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Moody National REIT I, Inc. [moody-8k_04122012.htm]

 
EXHIBIT 10.1

 
ASSIGNMENT AND ASSUMPTION OF PURCHASE AGREEMENT
 
For good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, MOODY NATIONAL COMPANIES, LP, a Texas limited partnership
(“Assignor”), hereby assigns to Moody National Wood-Hou Holding, LLC, a Delaware
limited liability company (“Assignee”), all of Assignor's rights and obligations
under and in regard to that certain Purchase Agreement dated and effective March
22, 2012, as amended to the date hereof (as amended, the “Purchase Agreement”),
by and amongWoodlands Terrapin Investors I, LLC, Woodlands Terrapin Investors
II, LLC, Woodlands Terrapin Investors III, LLC, 537 Houston, LLC, Marc Hotel
Houston, LLC, Miriam Hotel Houston, LLC and Terrapin Operator Woodlands, LLC, as
sellers,and Assignor for the purchase and sale of Homewood Suites Woodlands
located 28913 Interstate 45, Spring, Texas (the “Property”).
 
Assignee hereby agrees to and shall assume, perform and be fully responsible for
the performance of all of the obligations of Assignor under the Purchase
Agreement.
 
All of the provisions, covenants and agreements contained in the Assignment
shall extend to and be binding upon the respective legal representatives,
successors and assigns of Assignor and Assignee. This Assignment represents the
entire agreement between Assignor and Assignee with respect to the subject
matter of the Assignment, and all prior or contemporaneous agreements regarding
such matters are hereby rendered null and void and of no force and effect.
 
(SIGNATURES APPEARS ON FOLLOWING PAGE)

 
 

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WITNESS THE EXECUTION HEREOF, as of this April 12, 2012.
 
 

   
ASSIGNOR:
           MOODY NATIONAL COMPANIES, LP,
a Texas limited partnership
   
By:
/s/ Brett Moody
   
Name:
Brett Moody     
Title:
Managing Member

 

   
ASSIGNEE:
         
MOODY NATIONAL WOOD-HOU HOLDING, LLC
an Delaware limited liability company
   
By:
/s/ Brett Moody
   
Name:
Brett Moody    
Title:
President

 

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