ASSIGNMENT AND ASSUMPTION OF PURCHASE AGREEMENT
EXHIBIT 10.11
For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, STEADFAST ASSET HOLDINGS, INC., a California corporation (“Assignor”), hereby assigns to XXX XXXXXXXX SUMMIT, LLC, a Delaware limited liability company (“Assignee”), all of Assignor’s rights and obligations under and in regard to that certain Purchase and Sale Agreement and Joint Escrow Instructions dated August 8, 2012 (as may be amended, the “Purchase Agreement”), between HMSREG, LLC, an Ohio limited liability company, and CSL HILLMEADOWS, LTD., an Ohio limited liability company (collectively, “Seller”) and Assignor for the purchase and sale of that membership interest relating to that certain real property located in Hilliard, Ohio, as more particularly described in Exhibit A attached hereto (the “Property”).
Assignee hereby agrees to and shall assume, perform and be fully responsible for the performance of all of the obligations of Assignor under the Purchase Agreement.
All of the provisions, covenants and agreements contained in the Assignment shall extend to and be binding upon the respective legal representatives, successors and assigns of Assignor and Assignee. This Assignment represents the entire agreement between Assignor and Assignee with respect to the subject matter of the Assignment , and all prior or contemporaneous agreements regarding such matters are hereby rendered null and void and of no force and effect.
(SIGNATURES APPEARS ON FOLLOWING PAGE)
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WITNESS THE EXECUTION HEREOF, as of this September 28, 2012.
ASSIGNOR:
STEADFAST ASSET HOLDINGS, INC.,
a California corporation
By: | /s/ Xxx Xxxxx del Rio |
Xxx Xxxxx del Rio | |
Vice President | |
ASSIGNEE:
XXX XXXXXXXX SUMMIT, LLC, a Delaware limited liability company
By: Steadfast Income Advisor, LLC,
a Delaware limited liability company, its Manager
By: | /s/ Xxxxx X. Xxxxxxx |
Xxxxx X. Xxxxxxx | |
Chief Accounting Officer | |
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Exhibit A
DESCRIPTION OF THE PROPERTY
(See Attached)
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