SECURITIES ACQUISITION AND PUT AGREEMENTSecurities Acquisition and Put Agreement • November 29th, 2006 • Transcontinental Realty Investors Inc • Real estate investment trusts • Texas
THIS SECURITIES ACQUISITION AND PUT AGREEMENT (the “Agreement”) is made and entered into on November 21, 2006, by and among TRANSCONTINENTAL REALTY INVESTORS, INC., a Nevada corporation (“TCI” or the “Company”), LEMAN DEVELOPMENT, LTD., a Texas limited partnership (“Leman”), acting by, through and under its General Partner, WINDMILL/KAUFMAN, LTD., a Texas limited partnership (“WKL”), in turn acting by, through and under its General Partner, SIEPELA DEVELOPMENT CORPORATION, a Texas corporation (“Siepela”); and KAUFMAN LAND PARTNERS, LTD., a Texas limited partnership (“KLP”), acting by, through and under its General Partner, KAUFMAN LAND MANAGEMENT, LLC, a Texas limited liability company (“Kaufman LLC”) (Leman and KLP and their respective successors and assigns hereunder are sometimes collectively called “Holders,” and all of the signatories hereto are collectively called the “Parties”); and
