Exhibit 10(m)
ASSIGNMENT AND ASSUMPTION OF AGREEMENT OF SALE AND PURCHASE
THIS ASSIGNMENT AND ASSUMPTION OF AGREEMENT OF SALE
AND PURCHASE made as of this 9th day of September, 1999 between YORK
AVENUE DEVELOPMENT, INC., a New York Corporation, with an office at
0000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 (the "Assignor") and
SOTHEBY'S, INC., a New York corporation, with offices at 0000 Xxxx
Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 (the "Assignee").
W I T N E S S E T H:
WHEREAS, Assignor, as purchaser, entered into an Agreement of
Sale and Purchase dated as of September 9, 1999 with The Xxxxxxxx Capital
Company, Xxxxxxxx X. Xxxxxxxx and Xxxxxxx X. Xxxxxxxx, as sellers, relating to
the purchase of the property at 0000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx (the
"Agreement");
NOW, THEREFORE, in consideration of the sum of One ($1.00)
Dollar and other good and valuable consideration paid by Assignee to Assignor,
the receipt and sufficiency whereof is hereby acknowledged by Assignor does
hereby sell, assign and transfer unto Assignee all of Assignor's right, title
and interest in and to the Agreement, including without limitation, all of the
Assignor's right, title and interest in and to any down payment deposited with
Seller's attorney in escrow in accordance with the Agreement.
Assignee hereby accepts the assignment and assumes all the
terms, covenants and conditions of the Agreement on Assignor's part to be
performed.
TO HAVE AND TO HOLD unto Assignee, its successors and assigns
forever, subject to the terms of the Agreement.
IN WITNESS WHEREOF, the undersigned have executed this
Assignment and Assumption of Agreement of Sale and Purchase as of the date set
forth above.
ASSIGNOR:
YORK AVENUE DEVELOPMENT, INC.
By: /s/ Xxxxxxx X. Xxxxxxxx
---------------------------
Name: Xxxxxxx X. Xxxxxxxx
Title:
ASSIGNEE:
SOTHEBY'S, INC.
By: /s/ Xxxxxxx X. Xxxxxxxx
---------------------------
Name: Xxxxxxx X. Xxxxxxxx
Title:
