AMERICAN LAND LEASE, INC. (a Delaware corporation)Underwriting Agreement • February 22nd, 2005 • American Land Lease Inc • Real estate investment trusts • New York
The undersigned, American Land Lease, Inc., a Delaware corporation (the “Company”), and Asset Investors Operating Partnership, L.P., a Delaware limited partnership (the “Operating Partnership”), each hereby address you as the representative (the “Representative”) of each of the persons, firms and corporations listed on Schedule I hereto (collectively, the “Underwriters”) and hereby confirm their agreement with the Underwriters with respect to the issue and sale by the Company and the purchase, acting severally and not jointly, by the Underwriters of 900,000 shares of the Company’s 7.75% Series A Cumulative Redeemable Preferred Stock (liquidation preference $25 per share), par value $.01 per share (the “Series A Preferred Shares”), and with respect to the grant by the Company to the Underwriters of the option described in Section 2(b) hereof to purchase all or any part of 100,000 additional Series A Preferred Shares to cover over-allotments, if any.
