FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT
Exhibit 10.80
FIRST AMENDMENT TO
THIS FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT (this “Amendment”) dated as of March 23, 2007, is entered into by and between KBS OFFICES AT KENSINGTON, LLC, a Delaware limited liability company (“Purchaser”), and CLPF-KENSINGTON, L.P., a Delaware limited partnership (“Seller”), with reference to the following recitals:
RECITALS
A. Seller and KBS Capital Advisors LLC, a Delaware limited liability company (“Original Purchaser”) are parties to that certain Purchase and Sale Agreement, dated March 20, 2007 (the “Purchase Agreement”). All initially-capitalized terms not otherwise defined herein shall have the meanings set forth in the Purchase Agreement unless the context clearly indicates otherwise.
B. Original Purchaser subsequently assigned the Purchase Agreement to Purchaser pursuant to that certain Assignment and Assumption of Purchase Agreement dated March 22, 2007.
C. Seller and Purchaser mutually desire to amend the Purchase Agreement as provided below.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
AGREEMENT
1. Extension of Due Diligence Period. The Due Diligence Period shall be, and hereby is, extended to and shall expire on March 26, 2007, at 5:00 p.m. Central Time.
2. No Other Amendments; This Amendment Governs and Controls. Except as expressly modified hereby, the Purchase Agreement shall remain unmodified and in full force and effect. To the extent any of the provisions of this Amendment are inconsistent with any of the provisions set forth in the Purchase Agreement, the provisions of this Amendment shall govern and control.
3. Counterparts. This Amendment may be executed in any number of counterparts, each of which shall be deemed an original, but all of which when taken together shall constitute one and the same instrument. Each counterpart may be delivered by facsimile transmission. The signature page of any counterpart may be detached therefrom without impairing the legal effect of the signature(s) thereon provided such signature page is attached to any other counterpart identical thereto.
IN WITNESS WHEREOF, Purchaser and Seller have executed this Amendment as of the day and year first above written.
[SIGNATURES ON NEXT PAGE]
PURCHASER:
KBS OFFICES AT KENSINGTON, LLC, | ||||||||
a Delaware limited liability company | ||||||||
By: |
KBS REIT ACQUISITION XII, LLC, | |||||||
a Delaware limited liability company, its sole member | ||||||||
By: | KBS LIMITED PARTNERSHIP, | |||||||
a Delaware limited partnership, its sole member | ||||||||
By: | KBS REAL ESTATE INVESTMENT TRUST, INC., | |||||||
a Maryland corporation, general partner | ||||||||
By: |
/s/ Xxxxxxx X. Xxxxxxxxx, Xx. | |||||||
Xxxxxxx X. Xxxxxxxxx, Xx. | ||||||||
Chief Executive Officer |
S-1
SELLER:
CLPF – KENSINGTON, L.P., a Delaware limited partnership | ||||||||||||||
By: |
CLPF – Kensington GP, LLC, a Delaware limited liability company | |||||||||||||
By: | Clarion Lion Properties Fund Holdings, L.P., a Delaware limited partnership | |||||||||||||
By: | CLPF - Holdings LLC, a Delaware limited liability company, its General Partner | |||||||||||||
By: | Clarion Lion Properties Fund Holdings REIT, LLC, a Delaware limited liability company, its sole member | |||||||||||||
By: | Clarion Lion Properties Fund, LLC, a Delaware limited liability company, its managing member | |||||||||||||
By: | ING Clarion Partners, LLC, a New York limited liability company, its manager |
By: |
/s/ Xxxxxxx X. Xxxxxx |
|||||||||||||||||||||||||||||||||
Name: |
Xxxxxxx X. Xxxxxx | |||||||||||||||||||||||||||||||||
Title: |
Authorized Signatory |
S-2