ASSIGNMENT AND ASSUMPTION OF PURCHASE AND SALE AGREEMENT
EXHIBIT 10.176
ASSIGNMENT AND ASSUMPTION OF PURCHASE AND SALE AGREEMENT
For good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the undersigned, INLAND REAL ESTATE ACQUISITIONS, INC., an Illinois corporation, (“Assignor”) hereby assigns to INLAND AMERICAN REAL ESTATE TRUST, INC., a Maryland corporation, (“Assignee”) all of Assignor’s right, title and interest as a party to that certain Purchase and Sale Agreement [Portfolio #2] (the “Purchase Agreement”) by and between INLAND REAL ESTATE ACQUISITIONS, INC., (“Buyer”), and SUNTRUST BANK, a Georgia banking corporation, (“Seller”), dated October 17, 2007, as amended, with respect to the purchase and sale of those certain parcel(s) of land more fully defined on Exhibit A, attached hereto (the “Property”).
By execution hereof by Assignee, Assignee for itself and its successors and assigns hereby accepts the assignment and assumes all of the obligations of Assignor under the Purchase Agreement with respect to the Properties. The Assignor acknowledges and agrees that notwithstanding the foregoing the Assignor is not released from any of its obligations under the Purchase Agreement.
This Assignment is effective as of the 17th day of March, 2008.
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ASSIGNOR: |
INLAND REAL ESTATE ACQUISITIONS, INC., |
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an Illinois corporation |
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By: |
/s/ G. Xxxxxx Xxxxxxx |
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G. Xxxxxx Xxxxxxx |
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Its: |
President |
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ASSIGNEE: |
INLAND AMERICAN REAL ESTATE TRUST, |
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INC., a Maryland corporation |
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By: |
/s/ Xxxxxx X. Xxxxx |
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Xxxxxx X. Xxxxx |
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Its: |
Assistant Secretary |
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Exhibit A
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Prop. ID |
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Property Name |
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Xxxxxxx |
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Xxxx |
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Xxxxx |
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Xxx |
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Xxxxxx |
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Xxxx |
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0 |
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XX00000 |
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Roseland Xxxxxx |
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00000 Xxxxx X.X. Xxxxxxx #0 |
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Xxxxxxxx |
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XX |
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00000 |
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Indian River |
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3,359 |
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8 |
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FL00196 |
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Crystal River Xxxxxx |
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0000 Xxxxxxxxx X.X. Xxxxxxx 00 |
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Xxxxxxx Xxxxx |
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XX |
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00000 |
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Citrus |
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9,150 |
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8 |
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FL00296 |
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Mandarin Branch |
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00000 Xxx Xxxx Xxxxxxxxx |
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Xxxxxxxxxxxx |
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XX |
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00000 |
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Xxxxx |
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4,262 |
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8 |
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FL00783 |
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Southwood Xxxxxx |
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0000 00xx Xxxxxx, Xxxx |
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Xxxxxxxxx |
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XX |
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00000 |
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Manatee |
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3,461 |
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8 |
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FL01047 |
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Edgewater Branch |
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000 Xxxxx Xxxxxxxxx Xxxxxx |
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Xxxxxxxxx |
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XX |
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00000 |
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Volusia |
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4,200 |
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9 |
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FL00164 |
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Gulf Breeze Branch |
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00 Xxxxxxx Xx |
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Xxxx Xxxxxx |
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XX |
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00000 |
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Santa Xxxx |
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9,887 |
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9 |
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FL00172 |
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Hallandale |
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0000 Xxxx Xxxxxxxxxx Xxxxx Xxxx |
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Xxxxxxxxxx |
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XX |
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00000 |
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Broward |
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13,700 |
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9 |
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FL00212 |
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Lady Lake Branch |
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000 X.X. Xxxxxxx 000 |
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Xxxx Xxxx |
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XX |
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00000 |
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Lake |
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5,000 |
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9 |
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FL00221 |
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Freedom Park Office |
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000 Xxxx Xxxx Xxxxx Xxxxxxx |
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Xxxx Xxxxx |
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XX |
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00000 |
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Xxx |
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4,417 |
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9 |
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FL01005 |
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Palmetto Park Road |
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0000 Xxxx Xxxxxxxx Xxxx Xxxx |
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Xxxx Xxxxx |
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XX |
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00000 |
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Palm Beach |
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4,127 |
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9 |
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FL01009 |
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Riverbridge Xxxxxx |
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0000 Xxxxxx Xxxxx Xxxxxxxxx |
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Xxxxxxxxxx Xxxx |
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XX |
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00000 |
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Palm Beach |
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5,000 |
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9 |
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FL01234 |
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Country Road #1 Xxxxxx |
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0000 Xxxxx Xxxx 000 |
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Xxxx Xxxxxx |
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XX |
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00000 |
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Pinellas |
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5,335 |
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9 |
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FL01333 |
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East Tamarac |
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0000 Xxxx Xxxxxxxxxx Xxxxxxxxx |
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Xxxxxxx |
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XX |
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00000-0000 |
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Broward |
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7,000 |
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