EXHIBIT 10.2


 


REINSTATEMENT OF AND AMENDMENT TO

AGREEMENT OF PURCHASE AND SALE


 


THIS
REINSTATEMENT OF AND AMENDMENT TO AGREEMENT OF PURCHASE AND SALE (this “Amendment”) is entered into
as of the 22nd day of November, 2017, by and between BIGS MORTGAGE LLC, a Delaware limited
liability company and BIGS HOLDINGS LLC, a Delaware limited liability company (collectively,
“Seller”) and PLYMOUTH INDUSTRIAL REIT, INC., a Maryland
corporation (“Purchaser”).


 


RECITALS


 


WHEREAS, Seller and Purchaser
were parties to that certain Agreement of Purchase and Sale dated as of November 10, 2017 (the “Original Agreement”);


 


WHEREAS, pursuant to Section
4.5 of the Original Agreement, Purchaser exercised its right to terminate the Original Agreement on November 16, 2017 by sending
a termination notice to Seller (the “Termination Notice”);


 


WHEREAS, Purchaser and Seller
desire to reinstate the Original Agreement and to amend certain provisions of the Original Agreement as set forth herein.


 


NOW, THEREFORE, in consideration
of the mutual covenants and agreements herein contained, and of other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, Seller and Purchaser hereby agree as follows:


 


1.       Recitals;
Defined Terms. The Recitals set forth above are true and correct, and are incorporated herein by this reference. Capitalized
terms used herein and not otherwise defined shall have the meanings ascribed to such terms in the Original Agreement. The term
“Agreement” as used herein and in the Original Agreement shall mean and refer to the Original Agreement,
as amended by this Amendment.


 


2.       Reinstatement.
Seller and Purchaser hereby agree that (i) the Termination Notice is void, ab initio, as if the Termination Notice had never
been sent, (ii) the Original Agreement is reinstated, ratified and confirmed as if the Original Agreement never had been terminated,
and (iii) the Original Agreement is in full force and effect, as amended hereby.


 


3.       Inspection
Period. Purchaser hereby waives its right to terminate the Agreement pursuant to Section 4.5 of the Original Agreement.
Purchaser acknowledges that the Inspection Period has, by its terms, expired and that Purchaser will deposit the Additional Earnest
Money on or before November 21, 2017 in accordance with the terms of Section 3.1 of the Agreement.


 


4.       Title
and Survey. Purchaser hereby waives its right to terminate the Agreement pursuant to Section 5.3.2 of the Original Agreement.


 


5.       Deposit
of Additional Earnest Money. The second sentence of Section 3.1 of the Original Agreement is hereby deleted in its entirety
and the following is inserted in its stead: “Purchaser, no later than 5:00 p.m. Chicago time on November 22, 2017, shall
deposit the Additional Earnest Money, as specified in Section 1.1.4 above, with Escrow Agent.”


 




     


     

    

6.       Closing
Date. Section 1.1.14 of the Original Agreement is hereby amended by deleting “November 28, 2017” and inserting
“November 30, 2017” in its stead.


 


7.       Credit.
Seller and Purchaser hereby agree that at Closing, Purchaser shall receive a credit against the Purchase Price in an amount equal
to $1,750,000.00.


 


8.       Ratification;
Conflicts. Except as expressly amended or modified herein, all other terms and conditions of the Original Agreement are
hereby ratified and confirmed and shall remain and continue in full force and effect. In the event of any inconsistency or conflict
between this Amendment and the Original Agreement, the provisions of this Amendment shall control.


 


9.       Counterparts.
This Amendment may be executed in any number of counterparts, each of which shall be deemed an original, and all of which, when
taken together, shall constitute one and the same instrument. Delivery of an electronic signature page shall have the same legal
effect as delivery of an original signature page.


 


 


 


[SIGNATURE PAGE FOLLOWS]




    2 


     

    

IN WITNESS WHEREOF,
Seller and Purchaser have executed this Amendment as of the day and year first hereinabove written.


SELLER:


BIGS MORTGAGE LLC,
a Delaware limited liability company


 


 


By:   /s/ Christina Li                      

Printed Name: Christina Li


Title: Authorized Signatory


 


 


BIGS HOLDINGS LLC,
a Delaware limited liability company


 


 


By:   /s/ Christina Li                      

Printed Name: Christina Li


Title: Authorized Signatory


 


 


PURCHASER:


 


PLYMOUTH INDUSTRIAL REIT, INC., a Maryland corporation


 


 


By:   /s/ Pendleton P. White, Jr.    

Printed Name: Pendleton P. White, Jr.


Title: President