AMENDMENT TO CONTRACT OF SALE
Exhibit 10.4
AMENDMENT TO CONTRACT OF SALE
This
Amendment to Contract of Sale (“Amendment”), the effective date of which is June 2,
2006, is entered into by TR HIDDEN LAKE PARTNERS, LTD., a Texas
limited partnership (“Seller”) and
TRIPLE NET PROPERTIES, LLC, a Virginia limited liability company
(“Buyer”). Buyer and Seller are
sometimes collectively referred to herein as the
“Parties”.
Recitals
A. WHEREAS, Seller and Buyer entered into that certain Contract of Sale (the
“Agreement”) with an Effective Date of May 4, 2006, pursuant to which Seller agreed to
sell and Buyer agreed to purchase certain improved real property located in Bexar
County, Texas, more particularly described in the Agreement;
B. WHEREAS, pursuant to the terms of the Agreement, the Feasibility Period
expired May 5, 2006, but was then extended to May 12, 2006, and then June 2, 2006,
pursuant to letter agreements by and between Seller and Buyer dated May 5, 2006, and
May 25, 2006, respectively; and
C. WHEREAS,
Seller and Buyer mutually desire to amend certain provisions of the
Agreement.
Agreement
NOW, THEREFORE, for and in consideration of the mutual promises and agreements set forth herein
entered into by Buyer and Seller, the receipt and sufficiency of which is acknowledged, Seller and
Buyer agree as follows:
1. | The parties hereto have agreed that the “Feasibility Period” as defined in Section 5(a) of the Agreement will expire July 10, 2006. | ||
2. | All terms defined in the Agreement and denoted by initial capital letters shall have the same meanings provided in the Agreement when used in this Amendment, except to the extent that the moaning of any defined term is modified by or expressly set forth in the provisions of this Amendment. | ||
3. | This Amendment may be executed in multiple originals, each of which shall constitute an original for all purposes and together which shall constitute a fully executed agreement. A facsimile signature shall be deemed an original signature for all purposes. |
IN WITNESS WHEREOF, Seller and Buyer have executed this Amendment to be effective as of
June 2, 2006.
SELLER: | ||||||||||
TR HIDDEN LAKE PARTNERS, LTD., | ||||||||||
a Texas limited partnership | ||||||||||
By: | TRDC Hidden Lake Partners, Ltd., | |||||||||
a Texas limited partnership, its general partner | ||||||||||
By: | Xxxxxxxx Realty Development Corporation, | |||||||||
a Texas corporation, its general partner | ||||||||||
By: | /s/ W.T. Field
|
|||||||||
Name: | W.T. Field | |||||||||
Title: | President | |||||||||
BUYER: | ||||||||||
TRIPLE NET PROPERTIES, LLC, | ||||||||||
a Virginia limited liability company | ||||||||||
By: | /s/ Xxxxx Xxxxxx | |||||||||
Name: | Xxxxx Xxxxxx | |||||||||
Title: | President |