Document:

First Amendment to Sale, Purchase and Escrow Agreement

 Exhibit 10.62 

 
 FIRST AMENDMENT TO SALE, PURCHASE AND ESCROW AGREEMENT

 THIS FIRST AMENDMENT TO SALE, PURCHASE AND ESCROW AGREEMENT (“Amendment”) is
made and entered into as of December 7, 2012 by and between EDEN PRAIRIE WATERTOWER, LLC a Delaware limited liability company (“Seller”) and KBS-LEGACY APARTMENT COMMUNITY REIT VENTURE, LLC, a Delaware limited liability
company (“Purchaser”, and together with Seller, each a “Party”; and together the “Parties”). 
 RECITALS 
 A.      
The Parties previously entered in to that certain Sale, Purchase and Escrow Agreement with an Effective Date of November 29, 2012 (the “Agreement”) for the purchase and sale of a 228 unit apartment community with
approximately 10,065 square feet of commercial space known as “Watertower Apartments” located at 12300 Singletree Lane, Eden Prairie, Minnesota. 
 B.       The Parties desire to amend the Agreement as set forth in this Amendment. 
 NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth in this Amendment, and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Parties agree as follows: 
 AMENDMENT 

1.       Recitals. The foregoing Recitals are true and correct and are hereby
incorporated into the Amendment by this reference. 
 2.       Defined
Terms.   All capitalized terms used but not otherwise defined in this Amendment shall have the same meaning given to such terms in the Agreement. 

3.       Purchase Price. The Parties agree to reduce the Purchase Price by
Two Hundred Twenty Five Thousand and No/100 Dollars ($225,000.00) to Thirty Eight Million Three Hundred Seventy Five Thousand and No/100 Dollars ($38,375,000.00) (the “Purchase Price”). 

4.       Miscellaneous. Except as modified or amended by this Amendment, the
Parties hereby ratify and confirm the Agreement in all respects and the same shall remain in full force and effect as originally set forth in the Agreement and be binding on the Parties in accordance with its terms. This Amendment shall be binding
upon and inure to the benefit of the Parties, and their respective heirs, personal representatives, successors and assigns. 
 5.       Counterparts.   This Amendment may be executed in two or more counterparts each of which shall be an original but all of which shall
constitute one instrument. An executed facsimile copy or e-mail delivery of a “.pdf” format data file shall be an acceptable form of acceptance of this Amendment, and shall be considered an original for all purposes. 

[ADDITIONAL TEXT AND SIGNATURES APPEAR ON FOLLOWING PAGE.] 

  
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 6.       Conflicts.
  In the event of any conflict between the terms of the Agreement and the terms of this Amendment, the terms of this Amendment shall control. 
 IN WITNESS WHEREOF, the Parties have executed this Amendment as of the date set forth above. 
  

							
	SELLER:
	
	 EDEN PRAIRIE WATERTOWER, LLC, a Delaware
 limited liability company

			
		 	By:	 	  SBC Master Pension Trust, its Sole Member
			
		 		 	By: BlackRock Realty Advisors, Inc., a Delaware corporation, its Investment Manager
				
		 		 	By:	 	 /s/ Lawrence Palumbo

		 		 	Name:	 	 LAWRENCE PALUMBO

		 		 	Title:	 	 DIRECTOR

  

			
	
	PURCHASER:
	
	 KBS-LEGACY APARTMENT COMMUNITY REIT
 VENTURE, LLC, a Delaware limited liability company

	
	By: Legacy Partners Residential Realty LLC, a Delaware limited liability company, its Managing Member
		
	By:	 	 /s/ Kerry L. Nicholson

	Name:	 	 Kerry L. Nicholson

	Title:	 	 Senior Vice President

  
 2Assignment and Assumption of Sale, Purchase and Escrow Agreement

 Exhibit 10.63 

 
 ASSIGNMENT AND ASSUMPTION OF 

SALE, PURCHASE AND ESCROW AGREEMENT 
 This Assignment and Assumption of Sale, Purchase and Escrow Agreement (“Assignment”) is entered into between KBS-Legacy Apartment Community REIT Venture, LLC, a Delaware limited liability
company (“Assignor”), and KBS Capital Advisors LLC, a Delaware limited liability company (“Assignee”), as of December 12, 2012 (the “Effective Date”). 

RECITALS 

A.       Pursuant to the terms of that certain Sale, Purchase and Escrow Agreement dated as of
November 29, 2012 (the “Purchase Agreement”), Assignor agreed to acquire the Property (as such term is defined in the Purchase Agreement) commonly referred to as the Watertower Apartments in Eden Prairie, Minnesota subject to
and in accordance with the terms of the Purchase Agreement. 
 B.       Assignor desires to
assign, without recourse, representation or warranty, all of its rights, benefits, liabilities and obligations arising under the Purchase Agreement (and related documents) to Assignee, and Assignee desires to assume all of said rights, benefits,
liabilities and obligations. 
   NOW, THEREFORE, in consideration of the foregoing promises, the mutual undertakings
of the parties set forth herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties, the parties agree as follows: 

  1.         Recitals.     The above recitals are
incorporated herein by reference. 
   2.         Assignment and
Assumption.     Assignor hereby transfers, assigns and conveys, without recourse, representation or warranty, express or implied, the following to Assignee: i) all of Assignor’s rights, interests, liabilities and
obligations in and to the Property, ii) all of Assignor’s rights, interests, liabilities and obligations under the Purchase Agreement (and related documents), and iii) all of Assignor’s rights in and to the Initial Deposit (as defined in
the Purchase Agreement) previously deposited into escrow by Assignor for the benefit of Assignor to enable satisfaction of the Purchase Agreement requirements. Assignee hereby assumes all such rights, interests, liabilities and obligations, and
joins in all representations, warranties, releases, and indemnities, of Assignor under the Purchase Agreement (and related documents) relating to the Property, the Purchase Agreement (and related documents) and the Initial Deposit assigned to it
above. 
   3.         Successors and Assigns.
    This Assignment shall be binding upon and inure to the benefit of the parties’ successors and assigns. 
   4.         Attorneys’ Fees.     In the event of any controversy, claim, dispute, arbitration, or litigation between the
parties hereto to enforce or interpret any of the provisions of this Assignment or any right of either party hereto, the non-prevailing party to such controversy, claim, dispute, arbitration or litigation agrees to pay to the prevailing party all
costs and 

  
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expenses, including reasonable attorneys’ fees and costs, court or dispute resolution costs, arbitrator’s, mediator’s, consultant’s and expert witness’ fees and costs
incurred by the prevailing party, including, without limitation, fees incurred during trial or resolution of any action or dispute and any fees incurred as a result of an appeal from a judgment entered in any such matter. A prevailing party shall
include without limitation (a) a party who dismisses an action in exchange for sums due, or (b) the party determined to be the prevailing party by a court of law. The terms of this Section 4 shall survive the termination of the
Purchase Agreement. 
 5.         Counterparts.     This
Assignment may be executed in any number of counterparts, each of which shall be deemed an original, but all of which when taken together shall constitute one and the same instrument. Each counterpart may be delivered by facsimile transmission or
other electronic means and such shall be deemed effective as if original. The signature page of any counterpart may be detached therefrom without impairing the legal effect of the signature(s) thereon provided such signature page is attached to any
other counterpart identical thereto. 
 [REMAINDER OF PAGE IS INTENTIONALLY BLANK. 

SIGNATURES FOLLOW.] 

  
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 IN WITNESS WHEREOF, the undersigned have duly executed this Assignment and Assumption of
Purchase and Sale Contract to be effective as of the Effective Date set forth above. 
  

					
	ASSIGNOR:
	
	 KBS-Legacy Apartment Community REIT Venture, LLC,

a Delaware limited liability company

		
	By:	    	 LEGACY PARTNERS RESIDENTIAL REALTY LLC,
 a Delaware limited liability company,
 its managing member

			
		    	By:    	    	 /s/ Guy K. Hays

		    		    	 Guy K. Hays, as Trustee of the Hays 2009

Revocable Trust u/d/t dated November 12, 2009,
 a Managing Member

  

			
	ASSIGNEE:
	
	 KBS CAPITAL ADVISORS LLC,
 a Delaware limited liability company

		
	By:	 	     /s/ Charles J. Schreiber, Jr.

		 	    Charles J. Schreiber, Jr.,
		 	    Chief Executive Officer

  
 3Assignment and Assumption of Sale, Purchase and Escrow Agreement

 Exhibit 10.64 

 
 ASSIGNMENT AND ASSUMPTION OF 

SALE, PURCHASE AND ESCROW AGREEMENT 
 This Assignment and Assumption of Sale, Purchase and Escrow Agreement (“Assignment”) is entered into between KBS Capital Advisors LLC, a Delaware limited liability company
(“Assignor”), and KBS Legacy Partners Watertower LLC, a Delaware limited liability company (“Assignee”), as of December 12, 2012 (the “Effective Date”). 

RECITALS 

A.      Pursuant to the terms of that certain Purchase and Sale Contract dated as of November 29,
2012, as previously assigned pursuant to that certain Assignment and Assumption of Sale, Purchase and Escrow Agreement by and between Legacy Partners Residential LLC and Assignor of even date herewith (the “Prior Assignment” and
collectively, the “Purchase Agreement”), Assignor agreed to acquire the Property (as such term is defined in the Purchase Agreement) commonly referred to as the Watertower Apartments in Eden Prairie, Minnesota subject to and in
accordance with the terms of the Purchase Agreement. 
 B.      Assignor desires to assign,
without recourse, representation or warranty, all of its rights, benefits, liabilities and obligations arising under the Purchase Agreement (and related documents) to Assignee, and Assignee desires to assume all of said rights, benefits, liabilities
and obligations. 
   NOW, THEREFORE, in consideration of the foregoing promises, the mutual undertakings of the
parties set forth herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties, the parties agree as follows: 
  1.         Recitals.     The above recitals are incorporated herein by reference. 

 2.         Assignment and Assumption.     Assignor hereby
transfers, assigns and conveys, without recourse, representation or warranty, express or implied, the following to Assignee: i) all of Assignor’s rights, interests, liabilities and obligations in and to the Property, ii) all of Assignor’s
rights, interests, liabilities and obligations under the Purchase Agreement (and related documents), and iii) all of Assignor’s rights in and to the Initial Deposit (as defined in the Purchase Agreement) previously deposited into escrow by
Assignor in accordance with the terms of the Purchase Agreement. Assignee hereby assumes all such rights, interests, liabilities and obligations, and joins in all representations, warranties, releases, and indemnities, of Assignor under the Purchase
Agreement (and related documents) relating to the Property, the Purchase Agreement (and related documents) and the Initial Deposit assigned to it above. Concurrent with the delivery of this Assignment, Assignee will deliver to Assignor an amount
equal to the Initial Deposit as reimbursement therefor and concurrently therewith Assignor will use such funds to promptly repay to KBS-Legacy Apartment Community REIT Venture, LLC (the “Venture LLC”) the $200,000 previously
advanced by the Venture LLC to Legacy Partners Residential LLC to enable it to make the Initial Deposit as referenced in the Prior Assignment. 
  3.         Successors and Assigns.     This Assignment shall be binding upon and inure to the benefit of the parties’
successors and assigns. 

  
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 4.        Attorneys’ Fees.
  In the event of any controversy, claim, dispute, arbitration, or litigation between the parties hereto to enforce or interpret any of the provisions of this Assignment or any right of either party hereto, the non-prevailing party to such
controversy, claim, dispute, arbitration or litigation agrees to pay to the prevailing party all costs and expenses, including reasonable attorneys’ fees and costs, court or dispute resolution costs, arbitrator’s, mediator’s,
consultant’s and expert witness’ fees and costs incurred by the prevailing party, including, without limitation, fees incurred during trial or resolution of any action or dispute and any fees incurred as a result of an appeal from a
judgment entered in any such matter. A prevailing party shall include without limitation (a) a party who dismisses an action in exchange for sums due, or (b) the party determined to be the prevailing party by a court of law. The terms of
this Section 4 shall survive the termination of the Purchase Agreement. 

5.        Release Under Purchase Agreement.   Upon consummation of the
transactions contemplated by the Purchase Agreement, Assignor shall be automatically released from its obligations under the Purchase Agreement. 
 6.        Counterparts.   This Assignment may be executed in any number of counterparts, each of which shall be deemed an original, but all of
which when taken together shall constitute one and the same instrument. Each counterpart may be delivered by facsimile transmission or other electronic means and such shall be deemed effective as if original. The signature page of any counterpart
may be detached therefrom without impairing the legal effect of the signature(s) thereon provided such signature page is attached to any other counterpart identical thereto. 
 [REMAINDER OF PAGE IS INTENTIONALLY BLANK. 
 SIGNATURES FOLLOW.] 

  
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 IN WITNESS WHEREOF, the undersigned hereby duly execute this Assignment and Assumption of
Purchase and Sale Contract to be effective as of the Effective Date set forth above. 
 ASSIGNOR: 

KBS CAPITAL ADVISORS LLC, a Delaware limited liability company 
  

			
	By:	 	     /s/ Charles J. Schreiber, Jr.

		 	    Charles J. Schreiber, Jr.,
		 	    Chief Executive Officer

  

													
	ASSIGNEE:	 		    		    		 		 		 	
	
	 KBS LEGACY PARTNERS WATERTOWER LLC,
 a Delaware limited liability company

													
		
	By:	 	       KBS LEGACY PARTNERS PROPERTIES LLC,

      a Delaware limited liability company,
       its sole member

			
		 	      By:	    	     KBS LEGACY PARTNERS LIMITED PARTNERSHIP,

    a Delaware limited partnership,
     its sole member

				
		 		    	    By:	  	     KBS LEGACY PARTNERS APARTMENT REIT, INC.,

    a Maryland corporation,

    its sole general partner

													
					
		 		    		    	By:	 	 /s/ Guy K. Hays

		 		    		    	Name:	 	Guy K. Hays
		 		    		    	Title:	 	 Executive Vice President

  
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