Blueprint




 





Exhibit
10.6

 

AMENDMENT
TO

AGREEMENT
OF LIMITED PARTNERSHIP

OF

150
CCM BLACK OAK, LTD.

 

This Amendment
(this “Amendment”) to the Agreement of
Limited Partnership (the “Partnership Agreement”) of 150 CCM Black Oak,
Ltd. (the “Company”), dated as of September
25, 2017, is hereby adopted by 150 Black Oak GP, Inc., a Texas
corporation, whose address is 340 North Sam Houston Parkway East,
Suite 140, Houston, Texas 77060, as general partner
(“General
Partner”), and each of the individuals or entities
whose names are set forth on the Amended Exhibit A attached to this
Amendment as limited partners (the “Limited Partners”). Capitalized
terms used but not defined herein are used as defined in the
Partnership Agreement.

 

 WHEREAS, the General Partner presently
owns One Percent (1%) of the partnership interests of the
Company;

 

WHEREAS, the Fogarty Family Trust II
presently owns Fifty Percent (50%) of the issued and outstanding
common stock of the General Partner;

 

WHEREAS, the Fogarty Family Trust II is
presently the owner of limited partnership interests representing
Twenty-Three and One Half Percent (23.5%) of the Company’s
partnership interests; and

 

WHEREAS, Fogarty Family Trust II has
agreed to tender for surrender any and all common stock or right to
other equity interest it may have or be entitled to receive at time
in the future in the General Partner in exchange for the increase
of its ownership of the limited partnership interests of the
Company from Twenty-Three and One Half Percent (23.5%) of the
Company to Twenty-Four Percent (24%) of the Company’s
partnership interests;

 

NOW, THEREFORE, on the basis of the
mutual covenants and agreements made herein, which are expressly
deemed to constitute adequate and sufficient consideration in all
respects, the General Partner and the Limited Partners do hereby
agree as follows:

 




1.

Cancellation of Shares of 150 Black Oak GP,
Inc. The Fogarty Family Trust II hereby agrees to tender for
cancellation any and all shares of the common stock of the General
Partner that it presently owns and surrenders all of its right,
title and interest in such common stock or any other equity
interest in the General Partner that it may have or be entitled to
receive at a future date. In connection therewith the Fogarty
Family Trust II hereby agrees to execute and deliver the stock
power attached hereto as Exhibit B, and shall execute
any and all other instrument as shall be necessary and proper to
effectuate the cancellation of any and all equity interest it may
own in the General Partner or may have the right to
receive.





 




2.

Cancellation of Certain Partnership
Interests. The General Partner hereby agrees to the
cancellation of One-Half (1/2) of its general partner interests in
the Company.





 



 






 

AMENDMENT TO
AGREEMENT OF LIMITED PARTNERSHIP

 



 





 




3.

Issuance of Certain Partnership
Interests. The General Partner and the Limited Partners
agree that the Fogarty Family Trust II shall be entitled to receive
an additional One-Half of One Percent (.5%) of the partnership
interests of the Company in consideration for the cancellation of
its ownership interest in the General Partner.





 




4.

Amendment to Exhibit A of the Partnership
Agreement. The General Partner and the Limited Partners do
hereby amend the Partnership Agreement as follows, to reflect the
adjustments described herein: Exhibit A to the Partnership
Agreement is amended and replaced in its entirety as set forth on
Exhibit A
hereto.





 




5.

No Additional Modifications. Other than
as set forth herein, all other terms and conditions of the
Partnership Agreement shall remain unchanged and in full force and
effect.





 




6.

Successors and Assigns. This Amendment
shall be binding upon and shall inure to the benefit of the parties
hereto and their respective heirs, executors, administrators,
personal representatives, successors and assigns.





 




7.

No Third Party Beneficiaries. This
Amendment is intended for the benefit of the parties hereto and
their respective successors and permitted assigns and is not for
the benefit of, nor may any provision hereof be enforced by, any
other person.





 




8.

Counterparts. This Amendment may be
executed in any number of counterparts (including by fax or any
other means of electronic transmission each of which shall be an
original for all purposes), and all of which taken together shall
constitute one and the same instrument.





 

[Signature
Page Follows]



 






 

 AMENDMENT TO
AGREEMENT OF LIMITED PARTNERSHIP

 



 





IN WITNESS WHEREOF, the parties hereto
have executed this Amendment as of the date and year first above
written.

 

 

GENERAL
PARTNER:

 

150
BLACK OAK GP, INC.

A Texas
corporation

 

 

By:           /s/
Jeffrey
Busch                                                      

Name:

Title:

 

 

LIMITED
PARTNERS:

 

SED
DEVELOPMENT USA, INC.

A Delaware
corporation

 

 

By:          
/s/ Jeffrey
Busch        


Name:

Title:

 

 

AMERICAN
REAL ESTATE INVESTMENTS LLC

A Missouri Limited
Liability Company

 

 

By:           
/s/ Tracy
Weaver                                                     



Name:

Title:

 

 

WOODROW
A. HOLLAND, TRUSTEE FOR

THE
FOGARTY FAMILY TRUST II

 

 

By:           
/s/ Woodrow H.
Holland                                                     



Name:

Title:

 



 






 

 AMENDMENT TO
AGREEMENT OF LIMITED PARTNERSHIP

 



 





 

EXHIBIT
“A”

TO

150
CCM BLACK OAK, LTD. PARTNERSHIP AGREEMENT

 

General
Partner

 


	
Name
and Address of

General
Partner

	
Partnership
Interest

	
 

Capital
Contribution


	
 

150 Black Oak GP,
Inc.

340 North Sam
Houston Parkway East

Suite 140 Houston,
Texas 77060

	
 

.5%

	
 

$100.00






 

Limited
Partners

 


	
Names
and Addresses of

Limited
Partners

	
Partnership
Interest

	
 

Capital
Contribution


	
 

SeD
DEVELOPMENT USA, INC. (f/k/a) CCM DEVELOPMENT USA
CORPORATION

	
 

68.5%

	
 

$4,300,000.00


	
 

AMERICAN
REAL ESTATE INVESTMENTS LLC

	
 

7%

	
 

Zero*


	
 

WOODROW
A. HOLLAND, TRUSTEE FOR THE FOGARTY FAMILY TRUST II

	
 

24.0%

	
 

Zero*






 

*Limited partner
contributed contracts to purchase property

 

 

 

 



 






 

 AMENDMENT TO
AGREEMENT OF LIMITED PARTNERSHIP

 



 





 


EXHIBIT B

 

STOCK
POWER

 

 

 

 

 

 

 

 

 

 



 






 

 AMENDMENT TO
AGREEMENT OF LIMITED PARTNERSHIP

 



 





IRREVOCABLE STOCK
POWER

 

 

 

 

 

FOR VALUE RECEIVED,
The Fogarty Family Trust II does hereby transfer to:

 

150 Black Oak GP,
Inc.

 

500 common shares
of 150 Black Oak GP, Inc. (the “Company”) represented
in the Company’s books and records as maintained by the
Company.

 

These shares are
tendered for cancellation pursuant to the Amendment to Agreement of
Limited Partnership of 150 CCM Black Oak, Ltd, dated September 25,
2017 (the “Amendment”). The undersigned does hereby
irrevocably constitute and appoint the Company as attorney to
transfer the said stock on the books of the Company as provided in
the Amendment.

 

 

The Fogarty Family Trust II

 

 

 

/s/ Woodrow H.
Holland

Name: Woodrow A.
Holland

Title:   
Trustee

 

Dated: September
26, 2017