Document:

10.3 First Amendment to Purchase Sale Agreement

Exhibit 10.3

FIRST AMENDMENT TO 
AGREEMENT OF PURCHASE AND SALE

This First Amendment to Agreement of Purchase and Sale (“First Amendment”) is dated as of the 30th day of April, 2013 by and between 9022 HERITAGE PARKWAY, LLC, an Illinois limited liability company (“Seller”) and RREEF AMERICA L.L.C., a Delaware limited liability company (“Purchaser”), with reference to the following facts.
RECITALS
A.On March 28, 2013, Seller and Purchaser entered into an Agreement of Purchase and Sale (“Agreement”) for the purchase and sale of the real estate commonly known as 9022 Heritage Parkway, Woodridge, Illinois (“Property”).
B.    Purchaser and Seller agree to amend the Agreement on the terms and conditions set forth below.
NOW, THEREFORE, in consideration of Ten and NO/100 Dollars ($10.00) 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 facts are hereby incorporated by reference into the terms and conditions of this First Amendment.

		
	2.
	Defined Terms. Unless otherwise specifically defined in this First Amendment, all defined terms used in this First Amendment shall have the same meaning as set forth in the Agreement.

		
	3.
	Inspection Period and Approval Date. Notwithstanding anything contained in the Agreement to the contrary, Seller and Purchaser agree that the Inspection Period and Approval Date shall expire at 5:00 p.m. CST on Thursday, May 2, 2013.

		
	4.
	Counterparts. This First Amendment may be executed in counterparts, which taken together shall constitute one and the same instrument.

		
	5.
	Agreement in Effect.  All of the other terms and conditions of the Agreement remain in full force and effect.

		
	6.
	Headings. The titles and headings of the paragraphs of this First Amendment have been inserted as a matter of convenience of reference only and shall not control or affect the meaning or construction of any of the terms or provisions of this First Amendment.

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	7.
	Conflict. In the event of a conflict between this First Amendment and the Agreement, as amended, the provisions of this First Amendment shall control.

IN WITNESS WHEREOF, the parties have executed this First Amendment on the date set forth above.

	
		
	SELLER

	9022 HERITAGE PARKWAY, LLC,

	an Illinois limited liability company

	 
	 

	By:
	9022 HERITAGE PARKWAY  MANAGER, LLC,

	 
	an Illinois limited liability company, its manager

	 
	 

	By:
	OAK REALTY GROUP, INC.,

	 
	an Illinois corporation, its manager

	 
	 

	By:
	/s/ Adam M. Levine

	Name:
	Adam M. Levine

	Title:
	President

	
		
	BUYER

	RREEF AMERICA L.L.C.,

	a Delaware limited liability company

	 
	 

	By:
	/s/ James N. Carbone

	Name:
	James N. Carbone

	Title:
	Managing Director

210.4 Second Amendment to Purchase Sale Agreement

Exhibit 10.4

SECOND AMENDMENT TO AGREEMENT OF PURCHASE AND SALE

THIS SECOND AMENDMENT TO AGREEMENT OF PURCHASE AND SALE (this "Amendment") is made as of the 7th day of May, 2013, between 9022 HERITAGE PARKWAY, LLC, an Illinois limited liability company (the “Seller”) and RREEF AMERICA L.L.C., a Delaware limited liability company (the “Buyer”).

W I T N E S S E T H:

WHEREAS, Buyer and Seller entered into that certain Agreement of Purchase and Sale with an Effective Date of March 28, 2013, as amended by First Amendment to Agreement of Purchase and Sale dated April 30, 2013 (collectively, the "Sale Agreement"), pursuant to which Seller has agreed to sell to Buyer certain property (the "Property") located at 9022 Heritage Parkway, Woodridge, Illinois, as more particularly described in the Sale Agreement; and

WHEREAS, Buyer and Seller desire to modify the Sale Agreement in certain respects.

NOW, THEREFORE, for the sum of Ten Dollars ($10.00) and other good and valuable consideration in hand paid by each party hereto to the other, the receipt and sufficiency of which are hereby acknowledged, Buyer and Seller hereby agree as follows:

1.    Definitions.  Any capitalized terms not otherwise defined herein shall have the meaning ascribed to such term as set forth in the Sale Agreement.

2.    Tenant Estoppel.  The Estoppel Certificate has been approved by Seller and the form is attached hereto as Exhibit “A”.

3.    Seventh Amendment.  The Seventh Amendment exhibit attached as Exhibit “G” to the Sale Agreement, is hereby deleted in its entirety and replaced with the Exhibit “G” attached hereto.  

4.    Approval Date.  Buyer hereby waives its termination right under Subparagraph 6(a) of the Sale Agreement.  The Approval Date shall be the date hereof.

5.    Defeasance/Closing.  Paragraph 3 of the Agreement is hereby deleted and the following is substituted therefor:

“The purchase and sale contemplated herein shall be consummated at a closing (“Closing”) to take place at the offices of Chicago Title Insurance Company, 10 South LaSalle Street, Chicago, Illinois 60603, on the basis of a “New York Style” closing.  The Closing shall occur on May 31, 2012, on or before the close of business, or at such other 

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time as provided in this Agreement or as the parties may agree upon in writing (the “Closing Date”); provided, however, if either (a) the Estoppel Certificate or the Seventh Amendment has not been executed and delivered to Seller (or in escrow with the Title Company) by Tenant by the original Closing Date or (b) Seller has not completed the Defeasance (as hereinafter defined) by the original Closing Date, the Closing Date may be extended by Purchaser for up to thirty (30) days to allow for said deliveries.  The Closing shall be effective as of 12:01 A.M. on the Closing Date.  Provided, further, at such time that the Defeasance has been approved by Seller’s lender and may occur, then thereafter, Purchaser may elect to accelerate the Closing Date to a date specified in Purchaser’s notice to Seller (but such accelerated date must be at least seven (7) business days after the date of Purchaser’s notice to Seller and in no event prior to May 15, 2013).  In order to accelerate the Closing Date as provided in the foregoing sentence, Purchaser must have waived in writing Purchaser’s right to terminate this Agreement under Section 6(a) of this Agreement and under Section 7(d), as to any existing Objections, of this Agreement.  Notwithstanding the foregoing, the risk of loss of all or any portion of the Project shall be borne by Seller up to and including the actual time of the Closing and wire transfer of the Purchase Price to Seller, and thereafter by Purchaser, subject to the terms and conditions of Paragraph 16 below.”

6.    Confirmation.  Except as specifically set forth herein, all other terms and conditions of the Sale Agreement shall remain unmodified and in full force and effect, the same being confirmed and republished hereby.  To the extent there is any conflict between the terms of this Amendment and the Sale Agreement, the terms of this Amendment shall control.  

7.    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 a facsimile or “.pdf” copy of this Amendment executed by a party hereto shall be deemed to constitute delivery of an original hereof executed by such party.

[SIGNATURES BEGIN ON FOLLOWING PAGE]

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IN WITNESS WHEREOF, each of Buyer and Seller has caused this Amendment to be executed by persons duly authorized thereunto as of the day and year first above written.

	
		
	SELLER

	9022 HERITAGE PARKWAY, LLC,

	an Illinois limited liability company

	 
	 

	By:
	9022 HERITAGE PARKWAY  MANAGER, LLC,

	 
	an Illinois limited liability company, its manager

	 
	 

	By:
	OAK REALTY GROUP, INC.,

	 
	an Illinois corporation, its manager

	 
	 

	By:
	/s/ Adam M. Levine

	Name:
	Adam M. Levine

	Title:
	President

	
		
	BUYER

	RREEF AMERICA L.L.C.,

	a Delaware limited liability company

	 
	 

	By:
	/s/ Bradley J. Gries

	Name:
	Bradley J. Gries

	Title:
	Director10.5 Assignment of Purchase Sale Agreement

Exhibit 10.5

ASSIGNMENT OF AGREEMENT OF PURCHASE AND SALE

This Assignment of Agreement of Purchase and Sale (the “Assignment”) is made and entered into as of May 31, 2013, by and between RREEF AMERICA L.L.C., a Delaware limited liability company (“Assignor”) and RPT HERITAGE PARKWAY, LLC, a Delaware limited liability company (“Assignee”), with reference to the following facts:

Assignor, as Purchaser, and 9022 Heritage Parkway, LLC, an Illinois limited liability company, as Seller (“Seller”), have entered into that certain Agreement of Purchase and Sale dated as of March 28, 2013 (as the same has been amended from time to time, the “Purchase Agreement”), for the purposes of Assignor acquiring from Seller certain real property located at 9022 Heritage Parkway, in DuPage County, Illinois, as more particularly described in the Purchase Agreement.  Assignor now desires to assign to Assignee all of its rights and obligations under the Purchase Agreement, pursuant to the terms and conditions set forth herein.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

1.    As of the date hereof, Assignor hereby assigns, conveys, transfers and delivers to Assignee all of the Assignor’s right, title and interest in and to the Purchase Agreement.  

2.    Assignee hereby agrees to expressly assume, perform, and be subject to all the terms, covenants, conditions and obligations imposed upon Assignor under the Purchase Agreement.  

3.    Notwithstanding anything herein to the contrary, Assignor has not been released from, and shall remain fully liable to Seller for, all pre-closing obligations pursuant to the terms of the Purchase Agreement.  Assignee’s assumption of Assignor’s obligations under the Purchase Agreement shall entitle Assignee to the benefit of and the right to enforce Seller’s covenants, representations and warranties under the Purchase Agreement as if Assignee was the original Purchaser (as defined in the Purchase Agreement) thereunder.  Assignor and Assignee both hereby represent and warrant to Seller that Assignee is a Permitted Assignee as defined in Section 18 of the Purchase Agreement.  

4.    This Assignment shall inure to the benefit of, and be binding upon, the legal representatives, heirs, and permitted successors and assigns of the parties hereto and shall be governed by the laws of the State of Illinois.

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

	
		
	ASSIGNOR

	RREEF AMERICA L.L.C.,

	a Delaware limited liability company

	 
	 

	By:
	/s/ Julianna Ingersoll

	Name:
	Julianna Ingersoll

	Title:
	Director

	
		
	ASSIGNEE

	RPT HERITAGE PARKWAY, LLC,

	a Delaware limited liability company

	 
	 

	By:
	/s/ Julianna Ingersoll

	Name:
	Julianna Ingersoll

	Title:
	Vice President

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