FIRST AMENDMENT TO ASSIGNMENT AND ASSUMPTION AGREEMENT
Exhibit 10.9
FIRST AMENDMENT TO ASSIGNMENT AND ASSUMPTION AGREEMENT
This First Amendment to Assignment and Assumption Agreement (the "Amendment") is made and entered into as of January 31, 2010 (the "Effective Date"), by and among Investment Concepts, Inc., a California corporation, National Tax Credit, Inc. II, a California corporation, National Tax Credit Investors II, a California limited partnership, and GAC Realty Advisors, LP, a Nevada limited partnership (each, a "Party" and any two or more, as the context requires, collectively, the "Parties"), with reference to the following:
A. The Parties entered into that certain Assignment and Assumption Agreement, dated as of September 8, 2009 (the "Agreement"), and under the terms of the Agreement, the closing of the transactions contemplated thereunder was to occur in no event later than January 31, 2010 (the "Initial Closing Date").
B. The Parties desires to modify the Agreement to extend the Initial Closing Date as herein provided.
NOW THEREFORE, in consideration of the mutual promises and for such other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:
1. Capitalized terms used herein have the same meanings as set forth in the Agreement, unless specifically defined herein.
2. The Closing Date is extended until March 1, 2010.
3. This Amendment constitutes the sole agreement of the Parties with respect to the matters herein, all prior oral or written agreements being merged herein.
Except as set forth above, all of the terms and conditions of the Agreement remain unmodified and in full force and effect.
[Signature on following page(s)]
IN WITNESS WHEREOF, the Parties have entered into this Amendment as of the Effective Date.
CO-GENERAL PARTNER: INVESTMENT CONCEPTS, INC.,
a California corporation
By /s/Xxxxxx Xxxxx
Name: Xxxxxx Xxxxx
Title: President
ASSIGNEE: GAC REALTY ADVISORS, LP,
a Nevada corporation,
By First Advisors Mortgage Corp.,
a Nevada corporation,
General Partner
By /s/Xxxxxx Xxxxx
Name: Xxxxxx Xxxxx
Title: President
ASSIGNOR: NATIONAL TAX CREDIT, INC., II,
a California corporation
By /s/Xxxxx X. Xxxx
Name: Xxxxx X. Xxxx
Title: Senior Vice President
NATIONAL TAX CREDIT INVESTORS II,
a California corporation,
General Partner
By National Partnership Investments Corp.,
a California corporation,
General Partner
By /s/Xxxxx X. Xxxx
Name: Xxxxx X. Xxxx
Title: Senior Vice President
