Document:

exv10w80

 

Exhibit 10.80

FOURTH AMENDMENT TO PURCHASE CONTRACT

     THIS FOURTH AMENDMENT TO PURCHASE CONTRACT (the “Amendment”) is entered into effective as of
June ___, 2005, by and between NBS LOUDOUN GATEWAY IV, L.L.C., a Delaware limited liability company
(“Seller”), and CARR CAPITAL CORPORATION, a District of Columbia corporation (“Buyer”).

RECITALS

     A. Seller and Buyer entered into that certain Purchase Contract dated as of February 14, 2005
relating to certain property located at 22980 Indian Creek Drive, Sterling Virginia (as amended,
the “Agreement”).

     B. The parties to this Amendment desire to amend the Agreement to confirm the expiration of
the Extended Inspection Period and to set the Closing Date, upon the terms and conditions set forth
below.

AGREEMENT

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

          1. Incorporation of Recitals. The foregoing recitals are fully incorporated herein by
this reference as if fully set forth at this point.

          2. Expiration of Extended Inspection Period. In light of AOL’s execution and delivery
of the Tenant Estoppel Certificate dated June 6, 2005 (the “Estoppel”), a copy of which is attached
hereto as Exhibit A, Buyer acknowledges that the matters set forth in the AOL Letter are
resolved to Buyer’s satisfaction, and the parties agree that the Extended Inspection Period shall
be deemed to have expired upon the full execution and delivery of this Amendment. The Additional
Earnest Money is due within three (3) business days after the expiration of the Extended Inspection
Period.

          3. Closing Date. The parties acknowledge and agree that Closing shall occur on
Wednesday, July 13, 2005. Notwithstanding the foregoing, Buyer has the right to extend the Closing
to Monday, July 25, 2005 by providing Seller with written notice of the exercise of such extension
right and by posting with the Escrowee an additional $500,000.00 deposit (the “Extension Earnest
Money”) before 5:00 p.m. on Tuesday, July 12, 2005. The definition of the term “Earnest Money”
under the Contract is hereby revised to collectively mean the Initial Earnest Money, the Additional
Earnest Money and the Extension Earnest Money. Upon the full execution and delivery of this
Amendment, the Earnest Money shall be non-refundable to Buyer except in the event of: (a) a breach
of any representation or warranty of Seller hereunder, (b) a default by Seller hereunder, or (c) a
failure of a condition to Buyer’s obligations hereunder.

 

          4. Waiver of SNDA and Additional Estoppel. Buyer hereby waives the right to receive
the SNDA or any other estoppel from the Tenant in addition to the Estoppel as conditions to
Closing. Notwithstanding the foregoing, in the event that Buyer exercises its right to extend the
Closing pursuant to Section 3 of this Amendment, Seller shall, upon Buyer’s written request, make
commercially reasonable efforts to obtain the Tenant’s execution to an updated estoppel
certificate. Such updated estoppel certificate shall be in the same form as the Estoppel except
that it shall reflect the payment of July rent by the Tenant and shall be dated after July 12,
2005. Obtaining the updated estoppel certificate for Buyer shall not be a condition to Closing.

          5. Full Force and Effect; Definitions; Counterparts. Except as amended hereby, the
Agreement remains in full force and effect, any previous termination of the Agreement being hereby
revoked. All capitalized terms used herein which are not defined herein shall have the same
meanings ascribed to them in the Agreement. This Amendment may be signed in identical counterparts
and by the exchange of faxed signatures.

     IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment as of the date first
set forth above.

	 	 	 	 	 
	 	 	SELLER:
	 
	 	 	 	 
	 	 	NBS LOUDOUN GATEWAY IV, L.L.C.,
	 	 	a Delaware limited liability company
	 
	 	 	 	 
	 

	 	By:
	 	18 Chai Corp., an IL corp., its manager
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Vice President
	 
	 	 	 	 
	 	 	BUYER:
	 
	 	 	 	 
	 	 	CARR CAPITAL CORPORATION, a District of Columbia corporation
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Clinton D. Fisch
	 

	 	 	 	 
	 

	 	 	 	Clinton D. Fisch
	 

	 	 	 	Principal

2

 

EXHIBIT A

Executed Tenant Estoppel Certificate

(to be attached)

A-1exv10w81

 

Exhibit 10.81

ASSIGNMENT AND ASSUMPTION OF PURCHASE CONTRACT

     FOR VALUE RECEIVED, CARR CAPITAL CORPORATION, a District of Columbia corporation (hereinafter
“Assignor”), on this ___day of ___, 2005, hereby transfers, grants, conveys, sets over and
assigns to CARR GATEWAY IV, LLC, a Virginia limited liability company (hereinafter “Assignee”),
all of Assignor’s right, title and interest in and to that certain Purchase Contract dated as of
February 14, 2005, between Assignor, as Buyer, and NBS LOUDOUN GATEWAY IV, L.L.C., a Delaware
limited liability company, as Seller (as amended, the “Sale Agreement”), for the purchase and sale
of that certain real property known as Loudoun Gateway IV and located at 22980 Indian Creek Drive,
Sterling, Virginia, as said property is more particularly described in the Sale Agreement.
Assignor further transfers, grants, conveys, sets over and assigns to Assignee all of Assignor’s
right, title and interest in and to all deposits and/or down payments made under and pursuant to
the Sale Agreement.

     By execution hereof, Assignee hereby accepts the foregoing assignment and assumes and agrees
to be bound by all of the terms, conditions and provisions of the Sale Agreement to be kept or
observed by Assignor.

     Assignor and Assignee hereby mutually acknowledge and agree that, as of the date of this
assignment and assumption agreement, the Sale Agreement is in full force and effect.

     This assignment and assumption agreement may be executed in two counterparts and shall be
binding and valid with the same force and effect as if all parties executed the same assignment and
assumption agreement.

     Executed as of the day and year first hereinabove written.

	 	 	 	 	 	 	 
	 	 	 	 	ASSIGNOR:
	 
	 	 	 	 	 	 
	 	 	 	 	CARR CAPITAL CORPORATION,

a District of Columbia corporation
	 
	 	 	 	 	 	 
	 

	 	 	 	By:
	 	/s/ Oliver T. Carr, III
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Oliver T. Carr, III

President

 

	 	 	 	 	 	 	 
	 	 	 	 	ASSIGNEE:
	 
	 	 	 	 	 	 
	 	 	 	 	CARR GATEWAY IV, LLC,

a Virginia limited liability company
	 
	 	 	 	 	 	 
	 

	 	 	 	By:
	 	Columbia Equity LP,

a Virginia limited liability company
	 

	 	 	 	Its:
	 	Sole Member
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	By: Columbia Equity Trust, Inc.
a Maryland corporation
	 

	 	 	 	 	 	Its: General Partner
	 
	 	 	 	 	 	 
	 

	 	 	 	By:
	 	/s/ Oliver T. Carr, III
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	Oliver T. Carr, III

Chairman and Chief Executive Officer

-2-exv10w82

 

Exhibit 10.82

[CARR CAPITAL CORPORATION LETTERHEAD]

June 16, 2005

VIA OVERNIGHT MAIL

JPM I&G DOMESTIC REIT, INC.

JPM I&G DIRECT JV 10, LLC

I&G CAYMAN SUB CORP JV 10, INC.

c/o J.P. Morgan Investment Management Inc.

522 Fifth Avenue

New York, New York 10036

Attention: Mr. Scott M. MacDonald

Copy to:

Debevoise & Plimpton LLP

919 Third Avenue

New York, New York 10022

Attention: Peter J. Irwin, Esq.

	Re:      	 	Exercise of right to acquire a portion of the ownership Interest of JPM I&G

DOMESTIC REIT, INC., JPM I&G DIRECT JV 10, LLC and I&G CAYMAN
SUB CORP JV 10, INC.
(collectively, the “Acquisition Members”) , in Suffolk
 Holdings LLC, a Virginia limited
liability company (the “Company”)

Mr. MacDonald:

     Reference is made to that certain Limited Liability Company Agreement of Suffolk Holdings LLC,
dated as of March 17, 2005, by and among the Acquisition Members, Carr Capital Suffolk, LLC
(“Carr”) and Carr Capital Real Estate Investments, LLC (the “Suffolk Operating Agreement”). All
capitalized terms used herein, but not defined herein, shall have the respective meanings given to
them in the Suffolk Operating Agreement.

     Pursuant to Section 3.4 of the Suffolk Operating Agreement and Section 8.4 of the Operating
Agreement of Carr Capital Suffolk, LLC, dated as of March 17, 2005, by and among Carr Holdings,
LLC, Clark/Carr Investments LLC and Carr Capital Real Estate Investments, LLC (the “Carr Operating
Agreement”), the undersigned hereby notifies you that Carr desires to exercise its right to acquire
from the Acquisition Members an additional thirty-five percent (35%) Membership Interest in the
Company (the “Purchase Transaction”). The Purchase Transaction will occur on the date of, and is
contingent upon, the initial public offering (the “IPO”) of the common shares of Columbia Equity
Trust, Inc., a Maryland corporation (the “Carr REIT”), which IPO is currently expected to occur on
or about July 5, 2005. The purchase price attributable to the Membership Interest is $9,520,000.

 

 

     Please do not hesitate to call Ed Schulze of Carr Capital Corporation at (202) 303-3072 with
any questions related to the Purchase Transaction.

	 	 	 	 	 	 	 	 	 	 	 
	 	 	Very truly yours,
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	CARR CAPITAL SUFFOLK, LLC,
 a Virginia limited liability company
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	Carr Capital Real Estate Investments, LLC, a 
Virginia limited liability company, its

authorized member
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	Carr Capital Corporation, a District 
of Columbia corporation, its 
managing member
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	By:	 	/s/ Oliver T. Carr, III
	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	Name:
	 	Oliver T. Carr, III
	 

	 	 	 	 	 	 	 	Title:
	 	Presidentexv10w83

 

Exhibit 10.83

SECOND AMENDMENT TO

CONTRIBUTION AGREEMENT

     This SECOND AMENDMENT TO CONTRIBUTION AGREEMENT (the “Amendment”) is made and entered
into as of April 26, 2005 by and between Gregory Murdock, an individual (“Contributor”) and
Columbia Equity, LP, a Virginia limited partnership (“Acquirer”) with reference to the
following facts:

RECITALS:

	 	A.	 	Contributor and Acquirer have entered into that certain Contribution Agreement
for a membership interest in Holualoa/Carr Capital Sherwood, LLC, dated January 31,
2005, as amended by that certain First Amendment to Contribution Agreement, dated March
30, 2005 (collectively, the “Contract”);
	 
	 	B.	 	Contributor and Acquirer have mutually agreed upon a hypothetical sale of the
Property (as defined in the Contract) for a sale price of Fourteen Million Six Hundred
Thousand Dollars ($14,600,000);
	 
	 	C.	 	Contributor and Acquirer have mutually agreed that the Contract shall terminate
if the Closing (as defined in the Contract) does not occur prior to June 30, 2005
pursuant to the terms of the Contract; and
	 
	 	D.	 	Contributor and Acquirer desire to amend the Contract as described below.

     NOW, THEREFORE, for and in consideration of the agreements and obligations hereinafter set
forth and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged by the parties hereto, Contributor and Acquirer agree as follows:

TERMS

	1.	 	Increase of Sale Price. Contributor and Acquirer hereby agree to amend Section 1.2
to provide as follows:
	 
	 	 	The total consideration (the “Consideration”) for which Contributor agrees
to contribute and assign the Membership Interest to Acquirer, and which Acquirer
agrees to pay or deliver to Contributor, subject to the terms of this Agreement,
shall be the issuance to Contributor of a number of units of limited partnership
interests in Acquirer (“Units”) equal to (a) the amount of Net Cash Flow (as
defined in the LLC Operating Agreement) that Contributor would be entitled to
receive pursuant to Section 3.1 of the LLC Operating Agreement upon a hypothetical
sale of the Property for a sale price of Sixteen Million Dollars ($16,000,000) less
the principal of and accrued interest on the mortgage loan secured by the Property
(the “Mortgage Loan”) (with the Liquidating LLC Members being entitled to
any disproportionate distribution of Net Cash Flow that the Liquidating LLC would be
entitled to if it had not liquidated), (b) divided by

 

 

	 	 	the price per share at which the common stock, $.01 par value per share, (the
“Common Stock”) of Columbia Equity Trust, Inc., a Maryland corporation and
the general partner of Acquirer (the “REIT”), is offered to the public in
the underwritten initial public offering of the Common Stock (the “IPO”).
On the Closing Date (as defined below), the Units shall be issued to Contributor.
Upon the request of Contributor, Acquirer shall issue certificates reflecting
Contributor’s ownership of Units. The certificates evidencing the Units will bear
appropriate legends indicating (i) that the Units have not been registered under the
Securities Act of 1933, as amended (“Securities Act”), and (ii) that
Acquirer’s Amended and Restated Agreement of Limited Partnership (the
“Partnership Agreement”) restricts the transfer of the Units. Upon receipt
of the Units and execution and delivery of the Partnership Agreement, Contributor
shall become a limited partner of Acquirer.
	2.	 	Extension of Closing Date. Contributor and Acquirer hereby agree to amend Sections
3.1(g) and 3.2(g) of the Contract to provide as follows:
	 
	 	 	The Closing shall have occurred on or prior to July 31, 2005.

Contributor and Acquirer hereby agree to amend Section 4.1 of the Contract to provide as follows:

	 	 	The consummation and closing (the “Closing”) of the transactions
contemplated under this Agreement shall take place at the offices of Hunton &
Williams LLP, Washington, D.C., or such other place as is mutually agreeable to the
parties, on the date of the closing of the IPO (the “Closing Date”), or as
otherwise set by agreement of the parties; provided, however, that this Agreement
shall terminate if Closing does not occur prior to July 31, 2005.
	 
	3.	 	Ratification. Except as modified by this Amendment, the Contract remains in full
force and effect.
	 
	4.	 	Counterparts. This Amendment may be executed in multiple counterparts, each of which
shall be deemed an original, and all of which, taken together, shall constitute one and the
same instrument.

 

 

     IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first set
forth above.

	 	 	 	 	 
	 	 	CONTRIBUTOR:
	 
	 	 	 	 
	 
	 	 	 	 
	 	 	/s/ Gregory Murdock
	 	 	 
	 	 	Gregory Murdock
	 
	 	 	 	 
	 
	 	 	 	 
	 	 	ACQUIRER:
	 
	 	 	 	 
	 	 	Columbia Equity LP, a Virginia limited partnership
	 
	 	 	 	 
	 

	 	By:
	 	Columbia Equity Trust, Inc., a Maryland
corporation, its general partner
	 
	 	 	 	 
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Oliver T. Carr, III
	 

	 	 	 	 
	 

	 	 	 	      Name: Oliver T. Carr, III

      Title: Chairman and Chief Executive Officer

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