ASSIGNMENT
EXHIBIT 10.7
This Assignment is made as of the 11th day of March, 2011 by INLAND REAL ESTATE ACQUISITIONS, INC., an Illinois corporation (“Assignor”) to and for the benefit of INLAND DIVERSIFIED CHARLOTTE NORTHCREST, L.L.C., a Delaware limited liability company (“Assignee”).
Assignor does hereby sell, assign, transfer, set over and convey unto Assignee all of its right, title and interest as Purchaser under that certain Purchase and Sale Agreement dated December 23, 2010, as amended (the “Agreement”) by and between Xxxxxx Investors, L.L.C., a North Carolina limited liability company (“Seller”) and Assignor for the sale and purchase of the property commonly known as Northcrest Shopping Center, Charlotte, North Carolina.
Assignor represents and warrants that it is the Purchaser under the Agreement, and that it has not sold, assigned, transferred, or encumbered such interest in any way to any other person or entity. By acceptance hereof, Assignee accepts the foregoing assignment and agrees, from and after the date hereof, to (i) perform all of the obligations of Purchaser under the Agreement, and (ii) indemnify, defend, protect and hold Assignor harmless from and against all claims and liabilities arising under the Agreement.
IN WITNESS WHEREOF, Assignor and Assignee have executed this instrument as of the date first written above.
ASSIGNOR:
INLAND REAL ESTATE ACQUISITIONS, INC.
an Illinois corporation
By: /s/ Xxxxxx Xxxxxxxx-Xxx
Name: Xxxxxx Xxxxxxxx-Xxx
As Its: Vice President
ASSIGNEE:
INLAND DIVERSIFIED CHARLOTTE NORTHCREST, L.L.C., a Delaware limited liability company
By: Inland Diversified Real Estate Trust, Inc., its sole member
By: /s/ Xxxxx X. Xxxxxxx
Name: Xxxxx X. Xxxxxxx
Its: President
