January 6, 2014Asset Purchase and Sale and Lease of Properties • January 14th, 2014 • Griffin Land & Nurseries Inc • Real estate
Reference is made to that certain Lease and Option Agreement of even date herewith (the “Long-Term Lease”) by and between Monrovia Connecticut LLC, as tenant, Monrovia Nursery Company, as guarantor (collectively, “Tenant”) and Imperial Nurseries, Inc. and River Bend Holdings, LLC, as landlord (collectively, “Landlord”). The Long-Term Lease is executed in conjunction with the purchase by Tenant of the landscape nursery business of Imperial Nurseries, Inc. as more particularly set forth in that certain Asset Purchase Agreement (“Agreement”) of even date herewith. In addition, Tenant and River Bend Holdings, LLC have entered into a short-term Lease Agreement with respect to certain other properties of River Bend Holdings, LLC (the “Short-Term Lease,” and the Short-Term Lease, the Long-Term Lease, the Agreement and all other ancillary documents executed in connection therewith are hereinafter collectively referred to as the “Transaction Documents”).
