SECOND AMENDMENT TO AGREEMENT
FOR SALE AND PURCHASE
THIS SECOND AMENDMENT TO AGREEMENT FOR SALE AND PURCHASE
("Amendment") made and entered into by and between by and among CROWNRIDGE
STORAGE PORTFOLIO, LLC, a Nevada limited liability company, and XXXXXXXX STORAGE
PORTFOLIO III, LLC, a Nevada limited liability company (together, "Sellers"),
whose address is 0000 Xxxxxxx Xxxxxx, #000, Xxxxx Xxxx, Xxxxxxxxxx 00000, and
U-STORE-IT, L.P., a Delaware limited partnership ("Buyer") whose address is 0000
Xxxxx Xxxx, Xxxxx 000, Xxxxxxxxx, Xxxx 00000, amends the Agreement for Sale and
Purchase dated October 3, 2005 between Sellers and Buyer, as amended by an
Amendment to Agreement for Sale and Purchase dated November 17, 2005 (as
amended, the "Agreement"). Capitalized terms not defined herein shall have the
meanings set forth in the Agreement.
WITNESSETH:
WHEREAS, Buyer and Sellers have agreed to amend the allocation of
the Purchase Price for the Properties and extend the Closing Date under the
Agreement; and
WHEREAS, in furtherance thereof, Sellers and Buyer agree to the
following amendments to the Agreement.
AGREEMENT:
NOW THEREFORE, in consideration of the mutual terms, provisions,
covenants and agreements set forth herein as well as other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
Buyer and Sellers agree as follows:
1. Section 2 of the Agreement is hereby amended by changing (i) the
allocated portion of the Purchase Price for the Radio Property from Thirteen
Million One Hundred Thousand Dollars ($13,100,000.00) to Eleven Million Eight
Hundred Fifty Thousand Dollars ($11,850,000.00) and (ii) the allocated portion
of the Purchase Price for the Artesia Property from Eighteen Million Seven
Hundred Thousand Dollars ($18,700,000.00) to Seventeen Million Four Hundred
Fifty Thousand Dollars ($17,450,000.00).
2. Section 8 of the Agreement is hereby amended by extending the
Closing Date to February 7, 2006.
3. This Amendment may be executed in counterparts, each of which
shall be deemed to be an original, and both of such counterparts shall
constitute one amendment. To facilitate execution of this Amendment, the parties
may execute and exchange by electronic or facsimile transmission counterparts of
the signature pages.
BUYER:
U-STORE-IT, L.P.
a Delaware limited partnership
By: U-Store-It Trust, its general partner
By: /s/ Xxxxxx X. Xxxxxx
--------------------------------------
Xxxxxx X. Xxxxxx
President
Date of Execution by Buyer: December 1, 2005
SELLER:
CROWNRIDGE STORAGE PORTFOLIO, LLC
a Nevada limited liability company
By: /s/ Xxxx X. Xxxxxxxx
------------------------------------------
Its: Managing Member
------------------------------------------
XXXXXXXX STORAGE PORTFOLIO III, LLC
a Nevada limited liability company
By: /s/ Xxxx X. Xxxxxxxx
------------------------------------------
Its: Managing Member
------------------------------------------
Date of Execution by Sellers:
----------------
Date of Execution by Seller: November 30, 2005
-2-
