PURCHASE AND SALE AGREEMENTPurchase and Sale Agreement • October 29th, 2010 • NTS Mortgage Income Fund • Real estate investment trusts • Virginia
THIS PURCHASE AND SALE AGREEMENT (“Agreement”), is by and between NTS/VIRGINIA DEVELOPMENT COMPANY, a Virginia corporation, as seller (“Seller”), and ASSET MANAGEMENT, L.L.C., a Virginia limited liability company, as purchaser (“Purchaser”). Fawn Lake Community Association, a Virginia non-stock corporation (the “FLCA”) and Fawn Lake Country Club, a Virginia non-stock corporation (the “FLCC”) are hereby joining in the execution of this Agreement for the purpose of making certain covenants, undertakings and/or representations expressly attributable to them hereunder (collectively, Seller, Purchaser, the FLCA and the FLCC sometimes are referred to herein as the “Parties”). By this Agreement, Seller agrees to sell and to convey to Purchaser, and Purchaser agrees to purchase and to acquire, all of Seller’s rights, title and interest in the Country Club Property (as hereinafter defined) of the Fawn Lake Country Club. This Agreement is for the purchase and sale of assets only, and except as e
