Document:

Exhibit

Exhibit 10.20
FIRST AMENDMENT
 TO
REAL ESTATE SALE AGREEMENT

THIS FIRST AMENDMENT TO REAL ESTATE SALE AGREEMENT (“Amendment”) is made as of November 30, 2018 by and between REGENCY REALTY GROUP, INC., a Florida corporation (“Seller”), and THE PHILLIPS EDISON GROUP LLC, an Ohio limited liability company (“Buyer”).

WITNESSETH:
A.Seller, as Seller, and Buyer, as Buyer, are parties to a certain Real Estate Sale Agreement dated October 30, 2018 as amended by e-mail amendment dated November 29, 2018 (collectively, the “Agreement”) with respect to the shopping center commonly known as Ashburn Farm Market Center located in Ashburn, Virginia as more particularly described in the Agreement.

B.Seller and Buyer desire to amend the Agreement as more particularly set forth below.

NOW THEREFORE, in consideration of the premises and mutual covenants contained herein and in said Purchase Agreement, Seller and Buyer agree as follows:

1.Capitalized terms used herein but not defined shall have the meanings when used herein given to such terms in the Agreement.

2.Section 2.1 of the Agreement is hereby amended by deleting therefrom reference to “THIRTY ONE MILLION ONE HUNDRED THOUSAND AND 00/100 DOLLARS ($31,100,000.00)” and by substituting reference to “THIRTY MILLION EIGHT HUNDRED FIFTY THOUSAND AND 00/100 DOLLARS ($30,850,000.00)” in lieu thereof.

3.This Amendment shall be deemed timely delivery by Buyer of notice under Section 3.2 of the Agreement that Buyer has elected to go forward with the transaction contemplated by the Agreement to Closing.

4.It is acknowledged that by letter dated November 29, 2018, Buyer made title objections to certain matters with respect to the Property to Seller.  Buyer’s objections included a reservation of rights as to certain missing title exception documents noted in the Title Insurance Commitment, which missing documents Buyer is tracking down.  It is acknowledged that, under Section 7 of the Agreement, notwithstanding Section 3 above, Buyer retains its right to terminate the Agreement within 5 days after receipt of Seller’s responses to such title objections.       

5.As amended hereby, the Agreement is hereby restated and republished in its entirety and the same shall be deemed to be in full force and effect.  This Amendment may be executed in any number of counterpart originals, each of which, when taken together, shall be deemed to be one and the same instrument.  Executed copies of this Amendment may be delivered between the parties via e-mail.

      IN WITNESS WHEREOF, the parties have executed this Amendment.  

SELLER:

REGENCY REALTY GROUP, INC.,
a Florida corporation

By:    /s/ Barry E. Argalas            
Name:    Barry E. Argalas            
Title:    Senior Vice President                

	
		
	 
	BUYER:

THE PHILLIPS EDISON GROUP LLC,
an Ohio limited liability company

By:   PHILLIPS EDISON GROCERY CENTER OPERATING
         PARTNERSHIP I L.P.,
         a Delaware limited partnership,
         Sole Member

         By:  PHILLIPS EDISON GROCERY CENTER OP GP I LLC
                a Delaware limited liability company,
     General Partner

                By:  /s/ Robert F. Myers
                Name:   Robert F. Myers
                Its:   Vice President

                        

CONSENT AND JOINDER

“RCLP”

REGENCY CENTERS, L.P.,
a Delaware limited partnership

By:    Regency Centers Corporation
Its:    General Partner

By:    /s/ Barry E. Argalas            
Name:    Barry E. Argalas            
Title:    Senior Vice PresidentExhibit

Exhibit 10.21
SECOND AMENDMENT TO REAL
ESTATE SALE AGREEMENT

THIS SECOND AMENDMENT TO REAL ESTATE SALE AGREEMENT (“Second Amendment”) is made as of December 14, 2018, by and between THE PHILLIPS EDISON GROUP LLC, an Ohio limited liability company (“Buyer”), and REGENCY REALTY GROUP, INC., a Florida corporation (“Seller”).
 
RECITALS:
A.The parties heretofore executed that certain Real Estate Sale Agreement dated October 30, 2018, as modified by that certain First Amendment to Real Estate Sale Agreement dated November 30, 2018 (collectively, the “Agreement”), for the purchase and sale of certain property located in Ashburn, Virginia, as more particularly described in the Agreement. 

B.Seller and Buyer have agreed to amend the terms of the Agreement as hereinafter set forth.

C.Except as otherwise expressly provided for herein, capitalized terms used herein shall have the same meaning as set forth in the Agreement.

NOW, THEREFORE, in consideration of the premises and for good and valuable consideration, the receipt of which is hereby acknowledged, Seller and Buyer acknowledge and agree as follows: 

1.The foregoing recitals are true and correct and incorporated herein by this reference.  

2.Section 3.3 of the Agreement is hereby amended and restated in its entirety as follows:

		
	“3.3
	Time and Place of Closing.  The Closing shall take place at 10:00 A.M. at or through the offices of Escrow Agent at on January 9, 2019.  By providing Buyer with written notice, no later than January 7, 2019, Seller shall have the right to extend the date of Closing to January 18, 2019 if Seller has not obtained all required Tenant Estoppel Letters.  At any time during such extension period, Seller may provide Buyer with written notice that all required Tenant Estoppel Letters have been obtained, and the Closing shall be set at a time mutually agreeable to Buyer and Seller within the next three (3) business days following such written notice.”

3.The remaining terms and conditions of the Agreement remain in full force and effect.

4.This Second Amendment may be executed by the parties hereto individually or in combination, in one or more counterparts, each of which shall be an original and all of which will constitute one and the same Second Amendment.

5.The parties hereby agree that an executed facsimile or pdf copy of this Second Amendment may be transmitted to either party and be deemed an original for purposes hereof.

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

	
		
	 
	“SELLER”

REGENCY REALTY GROUP, INC., a Florida corporation

By: /s/ Barry E. Argalas________________
Name:  Barry E. Argalas________________
Title:  Senior Vice President_____________

	 
	 

	
		
	 
	“BUYER”

THE PHILLIPS EDISON GROUP LLC,
an Ohio limited liability company

By:  PHILLIPS EDISON GROCERY CENTER
        OPERATING PARTNERSHIP I L.P.,
        a Delaware limited partnership,
        Sole Member

       By:   PHILLIPS EDISON GROCERY 
                CENTER OP GP I
                LLC, a Delaware limited liability company,
                General Partner
               By:  /s/ Robert F. Myers
               Name:   Robert F. Myers
               Its: Vice President____

CONSENT AND JOINDER

	
		
	 
	“RCLP”
REGENCY CENTERS, L.P., a Delaware limited partnership

By:  Regency Centers Corporation
Its:  General Partner

By: /s/ Barry E. Argalas__________
Name:  Barry E. Argalas
Title:  Senior Vice PresidentExhibit

Exhibit 10.22
THIRD AMENDMENT TO REAL
ESTATE SALE AGREEMENT
THIS THIRD AMENDMENT TO REAL ESTATE SALE AGREEMENT (“Third Amendment”) is made as of January 8, 2019, by and between THE PHILLIPS EDISON GROUP LLC, an Ohio limited liability company (“Buyer”), and REGENCY REALTY GROUP, INC., a Florida corporation (“Seller”).
RECITALS:
A.The parties heretofore executed that certain Real Estate Sale Agreement dated October 30, 2018, as modified by that certain First Amendment to Real Estate Sale Agreement dated November 30, 2018, as further modified by that certain Second Amendment to Real Estate Sale Agreement dated December 14, 2018 (collectively, the “Agreement”), for the purchase and sale of certain property located in Ashburn, Virginia, as more particularly described in the Agreement. 

B.Seller and Buyer have agreed to amend the terms of the Agreement as hereinafter set forth.

C.Except as otherwise expressly provided for herein, capitalized terms used herein shall have the same meaning as set forth in the Agreement.

NOW, THEREFORE, in consideration of the premises and for good and valuable consideration, the receipt of which is hereby acknowledged, Seller and Buyer acknowledge and agree as follows: 

1.The foregoing recitals are true and correct and incorporated herein by this reference.  

2.The first sentence of Section 3.3 of the Agreement is hereby amended and restated in its entirety as follows:

“3.3    Time and Place of Closing.  The Closing shall take place at 10:00 A.M. at or through the offices of Escrow Agent on January 11, 2019.”
3.The remaining terms and conditions of the Agreement remain in full force and effect.

4.This Third Amendment may be executed by the parties hereto individually or in combination, in one or more counterparts, each of which shall be an original and all of which will constitute one and the same Third Amendment.

5.The parties hereby agree that an executed facsimile or pdf copy of this Third Amendment may be transmitted to either party and be deemed an original for purposes hereof.
[Remainder of page intentionally left blank]

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

	
		
	 
	“SELLER”

REGENCY REALTY GROUP, INC., a Florida corporation

By: /s/ Barry E. Argalas_____________
Name:  Barry E. Argalas
Title:  Senior Vice President

	
		
	 
	“BUYER”

THE PHILLIPS EDISON GROUP LLC,
an Ohio limited liability company

By:PHILLIPS EDISON GROCERY CENTER
      OPERATING PARTNERSHIP I L.P.,
      a Delaware limited partnership,
      Sole Member

By:   PHILLIPS EDISON GROCERY CENTER
         OP GPI LLC,
         a Delaware limited liability company,
         General Partner

By: /s/ Robert F. Myers______
Name: Robert F. Myers
             Its:      Vice President

	 
	 

CONSENT AND JOINDER

	
		
	 
	“RCLP”
REGENCY CENTERS, L.P., a Delaware limited partnership

By:  Regency Centers Corporation
Its:  General Partner

By: /s/ Barry E. Argalas__________________
Name:  Barry E. Argalas
Title:  Senior Vice President

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