PARTIAL ASSIGNMENT AGREEMENT
Exhibit 10.1.b
This PARTIAL ASSIGNMENT AGREEMENT, dated as of March 19, 2007, is made by and between CRZ
PHOENIX I LLC, a Delaware limited liability company (“Assignor”), and CRZ HOUSTON I LP, a
Delaware limited partnership (“Assignee”).
RECITALS:
WHEREAS, Assignor, as buyer, and BREOF BNK Xxxxxx XX, a Delaware limited partnership
(“Fannin Seller”), and BREOF BNK Phoenix LLC, a Delaware limited liability company
(“Phoenix Seller”, and together with Fannin Seller, collectively, the “Seller”),
collectively as seller, have entered into a certain Agreement of Purchase and Sale, dated as of
February 16, 2007 (the “Purchase and Sale Agreement”), with respect to the purchase and
sale of, among other things, all of Seller’s leasehold and fee interests in that certain real
property located at 0000 Xxxxxx Xxxxxx, Xxxxxxx, Xxxxx, (“Xxxxxx Property”), and 000 Xxxxx
Xxxxxxx Xxxxxx, Xxxxxxx, Xxxxxxx and 000 Xxxxx 0xx Xxxxxx, Xxxxxxx, Arizona (collectively,
“Phoenix Property”);
WHEREAS, Assignor desires to partially assign the Purchase and Sale Agreement to Assignee,
with respect to only portions of the “Property” (as defined in the Purchase and Sale Agreement)
that relate to the Fannin Property; and
WHEREAS, Assignee desires to assume all of the obligations of Assignor under the Purchase and
Sale Agreement with respect only to those portions of the Property that relate to the Fannin
Property, including but not limited to, payment of the Sixty Seven Million Three Hundred Eight
Thousand Dollars ($67,308,000) portion of the Purchase Price which has been allocated to the Fannin
Property;
NOW, THEREFORE, for good and valuable consideration, the receipt of which are hereby
acknowledged, Assignor and Assignee agree as follows:
1. Assignment. Assignor hereby assigns to Assignee, all of Assignor’s right, title
and interest under the Purchase and Sale Agreement with respect only to those portions of the
Property that relate to the Fannin Property. Assignor hereby acknowledges and agrees that Assignor
shall remain liable and responsible for all obligations and liabilities under the Purchase and Sale
Agreement that are not so assigned hereby.
2. Assumption. Assignee hereby accepts the foregoing assignment and assumes and
agrees to perform all of Assignor’s obligations and liabilities under the Purchase and Sale
Agreement that relate to the Fannin Property.
3. Liability. Notwithstanding anything to the contrary contained herein, Assignor and
Assignee hereby acknowledge and agree that each of Assignor and Assignee shall remain jointly and
severally responsible and liable with one another for the other party’s obligations and liabilities
under the Purchase and Sale Agreement and all other documents entered into by Assignor and Assignee
in connection with the consummation of the transaction contemplated by the Agreement, whether
occurring before, as of or after Closing.
4. Counterparts; Miscellaneous. This agreement may be executed in one or more
counterparts, each of which shall be deemed an original and all of which together shall constitute
one and the same instrument. All defined terms used, but not defined, herein shall have the
meaning ascribed to them in the Purchase and Sale Agreement.
5. Notices. Assignor and Assignee hereby acknowledge and agree that (i) any notice or
other communication delivered by either or both of the parties comprising Seller to Assignor or
Assignee shall be deemed delivery of such notice or other communication to both Assignor and
Assignee, and (ii) any notice or other communication received by either or both of the parties
comprising Seller from Assignor or Assignee shall be deemed to be a notice from both Assignor and
Assignee and shall be binding on both Assignor and Assignee.
[SIGNATURES ON FOLLOWING PAGE]
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IN WITNESS WHEREOF, Assignor and Assignee have executed and delivered this Partial Assignment
Agreement as of the day and year first written above.
ASSIGNOR | ||||||
CRZ PHOENIX I LLC, a Delaware limited liability company | ||||||
By: | /s/ Xxxxxxxx Xxx | |||||
Name: Xxxxxxxx Xxx | ||||||
Title: Authorized Signatory | ||||||
ASSIGNEE | ||||||
CRZ HOUSTON I LP, a Delaware limited partnership | ||||||
By: | /s/ Xxxxxxxx Xxx | |||||
Name: Xxxxxxxx Xxx | ||||||
Title: Authorized Signatory |
[SIGNATURE PAGE CONTINUES]
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The undersigned, Seller, hereby joins in the execution of this Partial Assignment Agreement
for the sole purpose of consenting and agreeing to the assignment contemplated therein on the terms
set forth therein:
SELLER | ||||||||
BREOF BNK XXXXXX XX, a Delaware limited partnership | ||||||||
By: | BREOF BNK Xxxxxx XX LLC, a Delaware limited liability company, its general partner |
|||||||
By: | BREOF BNK LLC, a Delaware limited liability company, its sole member |
By: | /s/ Xxxxxx X. Xxxxxxxx
|
|||||
Xxxxxx X. Xxxxxxxx | ||||||
President |
BREOF BNK PHOENIX LLC, a Delaware limited liability company | ||||||
By: | BREOF BNK LLC, a Delaware limited liability company, its sole member |
By: | /s/ Xxxxxx X. Xxxxxxxx
|
|||||
Xxxxxx X. Xxxxxxxx | ||||||
President |
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