Exhibit 10.27
ASSIGNMENT OF REAL ESTATE SALE AGREEMENT
For good and valuable consideration, the receipt of which is hereby
acknowledged, BC-GFS II LLC, a Delaware limited liability company ("Assignor"),
hereby assigns, transfers and sets over to BC-GFS Boulder Creek LLC, a Delaware
limited liability company ("Assignee"), all of Assignor's right, title and
interest with respect to the real property and improvements commonly known as
Boulder Creek Apartments, located in Wilsonville, Oregon and legally described
in Exhibit A attached hereto, under that certain Real Estate Sale Agreement
dated March 27, 2003, as amended by Letter Agreement dated as of April 24, 2003
and that certain First Amendment to Real Estate Sale Agreement dated as of
May 2, 2003 (collectively, the "Agreement"), originally between EQR-FANCAP 2000A
Limited Partnership, an Illinois limited partnership, as Seller, and Xxxxxxx
Financial Services, Inc. ("Xxxxxxx") as Purchaser, and assigned by Xxxxxxx to
Assignor pursuant to that certain Assignment of Real Estate Sale Agreement dated
as of May 2, 2003.
DATED this 21st day of May, 2003.
ASSIGNOR: BC-GFS II LLC,
a Delaware limited liability company
By: GFS Equity Management LLC,
a Washington limited liability company,
its manager
By: /s/ Xxxx X. Xxxxxxx
--------------------------
Xxxx X. Xxxxxxx, Manager
ASSIGNEE: BC-GFS BOULDER CREEK LLC,
a Delaware limited liability company
By: BC-GFS II LLC, a Delaware limited
liability company, its manager
By: GFS Equity Management LLC, a
Washington limited liability
company, its manager
By: /s/ Xxxx X. Xxxxxxx
---------------------------
Xxxx X. Xxxxxxx, Manager
EXHIBIT A
LEGAL DESCRIPTION
Those tracts of land described per Fee No. 84-20376 and Fee No. 86-31768,
Clackamas County Deed Records, located in the Northeast one-quarter of Section
13, Township 3 South, Range 1 West, of the Willamette Meridian, in the County of
Clackamas and State of Oregon, being more particularly described as follows:
Beginning at a found 1 inch iron pipe shown per Survey No. 22,960, Clackamas
County Survey Records, marking the East one-quarter corner of said Section 13;
thence along the South line of said Northeast one-quarter, South 89 DEG.31'58"
West, 1119.81 feet to the East right-of-way line of Wilsonville Road (Market
Road No. 12), a point on a curve; thence along the arc of a non-tangent 542.96
foot radius curve concave to the East through a central angle of 6 DEG.28'57", a
distance of 61.43 feet (chord bears North 20 DEG.29'10" East, 61.40 feet) to a
point of tangency; thence continuing along said line, parallel with and 30.00
feet distant from the center line of said Xxxxxx Xxxx Xx. 00, Xxxxx 00
XXX.00'00" East, 1449.26 feet to a point of curvature; thence along the arc of a
316.48 foot radius curve concave to the West through a central angle of 21
DEG.34'15", a distance of 119.15 feet (chord bears North 12 DEG.56'27" East,
118.45 feet); thence leaving said line, South 0 DEG.57'22" East, 373.46 feet to
an angle point; thence South 61 DEG.38'25" East, 544.85 feet to the East line of
said Northeast one-quarter; thence along said line, South 0 DEG.11'43" East,
858.37 feet to the point of beginning.
EXCEPTING any portion lying within the right-of-way line of said Xxxxxx Xxxx Xx.
00.
ALSO EXCEPTING THEREFROM that portion conveyed to the City of Wilsonville for
right of way by Deed recorded June 3, 1996 as Fee No. 96-039862.
