ASSIGNMENT OF AGREEMENT FOR PURCHASE AND SALE
Exhibit 10.21
ASSIGNMENT OF AGREEMENT FOR PURCHASE AND SALE
THIS ASSIGNMENT OF AGREEMENT FOR PURCHASE AND SALE (this “Assignment”) is made and entered into as of the 27th day of December, 2012, by and between X’XXXXXXX ACQUISITIONS, LLC, a California limited liability company (“ODA”) and OD WM NORTH CAROLINA, LLC, a Delaware limited liability company (“ODWM”), with respect to the following:
R E C I T A L S
A. ODA and 280 Business Park Realty, Ltd Partnership, a North Carolina limited partnership (“Seller”) entered into that certain Agreement of Purchase and Sale and Joint Escrow Instructions dated October 17, 2012 (the “Purchase Agreement”), pursuant to which, among other things, Seller agreed to convey to Buyer the Property, which real property consists of that certain land and improvements located at land and improvements located at 000 Xxxxxxxx Xxxx Xx., Xxxxxxx-Xxxxx, Xxxxx Xxxxxxxx. Capitalized terms which are not expressly defined in this Assignment shall have the meaning given to them in the Purchase Agreement.
X. XXX intends to convey all of its right, title and interest under the Purchase Agreement to ODWM, and ODWM desires to accept such assignment and assume all duties and obligations of ODA thereunder.
NOW, THEREFORE, the parties hereto hereby agree as follows:
1. Assignment. ODA hereby assigns all of its right, title and interest under the Purchase Agreement to ODWM. ODWM accepts such assignment and assumes all obligations and liabilities of ODA as the “Buyer” under the Purchase Agreement.
2. Indemnity. ODWM hereby agrees to indemnify, defend, and hold harmless ODA from and against any and all liability, cost, or expense which ODA may incur arising out of any default by ODWM in the performance of its obligations under the Purchase Agreement.
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IN WITNESS WHEREOF, the parties hereto have executed this Assignment as of the date and year first above written.
“ODA” |
X’XXXXXXX ACQUISITIONS, LLC, a California limited liability company | |||||||||
By: | /s/ Xxxxxxx X. X’Xxxxxxx | |||||||||
Xxxxxxx X. X’Xxxxxxx, as Trustee of the DOD Trust dated August 29, 2002, its sole member | ||||||||||
“ODFT” |
OD WM NORTH CAROLINA, LLC, a Delaware limited liability company | |||||||||
By: | X’Xxxxxxx Strategic Industrial REIT Operating Partnership, LP, a Delaware limited partnership, its sole Member and Manager | |||||||||
By: | X’Xxxxxxx Strategic Industrial REIT, Inc., a Delaware corporation, its sole General Partner | |||||||||
By: | /s/ Xxxxxxx X. X’Xxxxxxx | |||||||||
Xxxxxxx X. X’Xxxxxxx, its CEO and President |
2272/022441-0137 4260188.2 |
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