FIRST AMENDMENT TO AGREEMENT OF PURCHASE AND SALE
Exhibit 10.32
FIRST AMENDMENT TO
This FIRST AMENDMENT TO AGREEMENT OF PURCHASE AND SALE (this “Amendment”) is executed this
12th day of December, 2005, between MOR MONTPELIER LLC, FORBES BOULEVARD LLC, and DERRY
COURT LLC (collectively, “Seller”) and ASSET CAPITAL PARTNERS, L.P. (“Purchaser”; and, collectively
with Seller, the “Parties”).
WHEREAS, Seller and Purchaser entered into that certain Agreement of Purchase and Sale dated
November 7, 2005 (the “Original Agreement”), pursuant to which Seller agreed to Sell, and Purchaser
agreed to Purchase, the real property described therein, subject to the terms thereof.
WHEREAS, pursuant to Section 2.2 of the Original Agreement, the Due Diligence Period (as
defined in the Original Agreement) was to expire at 5:00 p.m. eastern standard time on the date
hereof.
WHEREAS, the Parties have now mutually agreed to extend said Due Diligence Period as
described herein. All terms not otherwise defined herein shall have the meanings set forth in the
Original Agreement.
NOW, THEREFORE, the Parties hereby agree as follows:
Extension of Due Diligence Period.
1. Anything contained in the Original Agreement notwithstanding, the Due Diligence Period
under Section 2.2 of the Original Agreement shall hereby be extended for a period of forty-eight
(48) hours, and thus shall be deemed to expire on Wednesday, December 14, 2005 at 5:00 p.m. eastern
standard time.
2. Except as expressly amended by this Amendment, the Original Agreement is hereby ratified
and affirmed in all respects. This Amendment may be executed by the parties hereby in counterpart.
3. This Amendment shall be binding upon and shall inure to the benefit of the parties hereto
and their personal representatives, successors, and assigns.
4. This Amendment shall be interpreted and construed in accordance with the laws of the State
of Maryland.
Signatures appear on next page
IN WITNESS WHEREOF, the parties hereto have set their hands the day and year first
written above.
WITNESSES:
|
SELLER: | |||
MOR MONTPELIER LLC | ||||
By: /s/ Xxxx Knobloch_(SEAL) | ||||
Xxxx X. Xxxxxxxx, President | ||||
FORBES BOULEVARD LLC | ||||
By: /s/ Xxxx Knobloch___(SEAL) | ||||
Xxxx X. Xxxxxxxx, President | ||||
DERRY COURT LLC | ||||
By: /s/ Xxxx Knobloch___(SEAL) | ||||
Xxxx X. Xxxxxxxx, President | ||||
PURCHASER: | ||||
ASSET CAPITAL PARTNERS, L.P. | ||||
By: ACC GP, LLC, its general partner | ||||
By: Asset Capital Corporation, Inc., its Sole member |
||||
By: /s/ Xxxxx Fernau___(SEAL) | ||||
Xxxxx Xxxxxx, Chief Investment Officer |