Document:

First_Amendment_to_Purchase_and_Sale_Agreement_Dunbar

FIRST AMENDMENT TO AGREEMENT OF PURCHASE AND SALE
This FIRST AMENDMENT TO AGREEMENT OF PURCHASE AND SALE (this "Amendment") is made and entered into effective this 15th day of September, 2014 by and between Preferred Apartment Communities Operating Partnership, L.P., a Delaware limited partnership ("Purchaser") and Sandstone Overland Park, LLC, Estancia Dallas, LLC, Stoneridge Nashville, LLC, and Vineyards Houston, LLC, all Delaware limited liability companies (collectively the “Seller”).
RECITALS
WHEREAS, Seller and Purchaser entered into that certain Agreement of Purchase and Sale dated effective as of July 25, 2014 (the “Agreement”) regarding the purchase by Purchaser of certain properties, including certain real property and improvements, as more particularly described in the Agreement. 

WHEREAS, Seller and Purchaser desire to modify and amend the Agreement in the manner hereinafter set forth.
FIRST AMENDMENT
NOW, THEREFORE, in consideration of the mutual promises herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by the parties, the parties agree as follows:
1.Definitions.  All capitalized terms used this in this Amendment but not otherwise defined shall have their same meanings as set forth in the Agreement.
2.Waiver of Termination Rights.  Purchaser has waived its rights to terminate the Agreement in accordance with the terms and provisions of Section 4.5 and 5.3; provided, however, the foregoing waiver shall not relieve Seller of its obligation to cure the Removable Liens.
3.Purchase Price.  The Purchase Price set forth in Section 1.1.3 is hereby increased to $181,740.000.00.
4.Closing Date and Pre-Closing Date. The Closing Date as defined in Section 1.1.14 of the Agreement is hereby amended and shall hereafter be September 24, 2014, or such later date as determined by Seller in the event it is unable to defease its existing financing on or before September 24, 2014, or by Purchaser as set forth below. The Pre-Closing Date as defined in Section 1.1.15 of the Agreement is hereby amended and shall hereafter be September 23, 2014.  On or before September 19, 2014, Purchaser may notify Seller in writing that the Closing Date and Pre-Closing Date must be extended, in Purchaser’s sole discretion, to a Pre-Closing Date and a Closing Date of not later than September 29 and September 30, 2014 by so notifying Seller and specifying the specific date for the Pre-Closing Date and Closing Date in such notice. Purchaser shall have no further right to extend the Pre-Closing Date or the Closing Date if not exercised by September 19, 2014. The provisions of Sections 7.2.5 and 7.6 are hereby modified and amended to replace October 14, 2014 with September 30, 2014 as the outside date for the Closing Date.
5.Section 8.1.3 is hereby amended by adding the following language:
For the Real Property owned by Estancia Dallas and Vineyards Houston (the “Estancia Property and the “Vineyards Property”, respectively), Seller is reimbursed by tenants of those Properties for certain utilities expenses (“RUBS”) previously incurred by Sellers in arrears. RUBS for the Estancia Property and the Vineyards Property will not be prorated pursuant to the terms applicable to Tenant Receivables under this Section 8.1.3. Seller shall be allocated the entire amount of RUBS for the Estancia Property and the Vineyards Property actually collected for the month in which Closing occurs.  Purchaser shall be entitled to collect all RUBS for the Estancia Property and the Vineyards Property collected after Closing (including delinquencies).
6.Ratification.  The parties hereby ratify and affirm the Agreement, which Agreement shall remain in full force and effect, except as specifically modified by this Amendment.  In the event of any conflict between the provisions of this Amendment and the Agreement, the provisions of this Amendment shall control.
7.Counterpart Signatures.  This Amendment may be signed in any number of counterparts, each of which shall be deemed to be an original and all of which taken together shall constitute one and the same instrument.  Seller and Purchaser further agree that the acknowledgement of this Amendment by Escrow Agent is not required for this Amendment to be binding and effective as between Seller and Purchaser.
8.Facsimile and PDF Signatures.  Handwritten signatures to this Amendment transmitted by telecopy or electronic mail (for example, through use of a Portable Document Format or “PDF” file) shall be valid and effective to bind the party so signing.  Each party to this Amendment shall be bound by its own telecopied or electronically transmitted handwritten signature and shall accept the telecopied or electronically transmitted handwritten signature of the other party to this Amendment.

[Remainder of page intentionally left blank; signatures to follow on next pages.]

SIGNATURE PAGE TO FIRST AMENDMENT OF AGREEMENT OF
PURCHASE AND SALE
BY AND BETWEEN
SANDSTONE OVERLAND PARK, LLC
AND PREFERRED APARTMENT COMMUNITIES OPERATING PARTNERSHIP, L.P.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year written below.
SELLER:
Sandstone Overland Park, LLC,
a Delaware limited liability company

By:    JTL AREP Investments I, LLC,
a Delaware limited liability company
its sole member

By:    JTL 4 Pack, LLC,
a Missouri limited liability company
its Manager

By: /s/ Whitney A. Greaves______________
  Whitney A. Greaves
  Authorized Representative

Date executed by Seller:
___September 17, 2014________

SIGNATURE PAGE TO AGREEMENT OF
PURCHASE AND SALE
BY AND BETWEEN
ESTANCIA DALLAS, LLC
AND PREFERRED APARTMENT COMMUNITIES OPERATING PARTNERSHIP, L.P.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year written below.
SELLER:
Estancia Dallas, LLC,
a Delaware limited liability company

By:    JTL AREP Investments I, LLC,
a Delaware limited liability company
its sole member

By:    JTL 4 Pack, LLC,
a Missouri limited liability company
its Manager

By: /s/ Whitney A. Greaves______________
  Whitney A. Greaves
  Authorized Representative

Date executed by Seller:
___September 17, 2014________

SIGNATURE PAGE TO AGREEMENT OF
PURCHASE AND SALE
BY AND BETWEEN
STONERIDGE NASHVILLE, LLC
AND PREFERRED APARTMENT COMMUNITIES OPERATING PARTNERSHIP, L.P.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year written below.
SELLER:
Stoneridge Nashville, LLC,
a Delaware limited liability company

By:    JTL AREP Investments I, LLC,
a Delaware limited liability company
its sole member

By:    JTL 4 Pack, LLC,
a Missouri limited liability company
its Manager

By: /s/ Whitney A. Greaves______________
  Whitney A. Greaves
  Authorized Representative

Date executed by Seller:
___September 17, 2014________

SIGNATURE PAGE TO AGREEMENT OF
PURCHASE AND SALE
BY AND BETWEEN
VINEYARDS HOUSTON, LLC
AND PREFERRED APARTMENT COMMUNITIES OPERATING PARTNERSHIP, L.P.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year written below.
SELLER:
Vineyards Houston, LLC,
a Delaware limited liability company

By:    JTL AREP Investments I, LLC,
a Delaware limited liability company
its sole member

By:    JTL 4 Pack, LLC,
a Missouri limited liability company
its Manager

By: /s/ Whitney A. Greaves______________
  Whitney A. Greaves
  Authorized Representative

Date executed by Seller:
___September 17, 2014________

SIGNATURE PAGE TO FIRST AMENDMENT OF AGREEMENT OF
PURCHASE AND SALE
BY AND BETWEEN
SANDSTONE OVERLAND PARK, LLC
AND PREFERRED APARTMENT COMMUNITIES OPERATING PARTNERSHIP, L.P.

PURCHASER:

Preferred Apartment Communities Operating Partnership, L.P.,
a Delaware limited partnership

By:    Preferred Apartment Advisors, LLC, 
a Delaware limited  liability company, its agent

By: _/s/  Jeffrey R. Sprain__________________
Jeffrey R. Sprain
General Counsel and Secretary

Date executed by Purchaser:

___September 17, 2014________CONTRIBUTION
 AGREEMENT

 

This
CONTRIBUTION AGREEMENT (this
“Agreement”) is entered
into effective as
of September 12th,
2014 (the “Effective
Date”), by and
between Vopia, Inc.,
a Nevada corporation
(“Vopia”) and Gimwork
Project LP (“Contributor”).

 

R
E C I
T A L
S:

 

A.Contributor
desires to contribute
and  assign  all 
of  its  assets 
and  liabilities associated
with its search
technology software and
online platform (the
“Business”) to Vopia
in return for
common stock valued
at $0.10 per
share of Vopia
(the “Common Stock”).

 

C.                   
Vopia agrees to
accept such asset
contribution and assume
such liabilities of
Contributor pursuant to
the terms of
this Agreement.

 

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

 

1.                       
Contribution and
Issuance of Common
Stock.

 

(a)                       
As of
the Effective Date,
Contributor does hereby
assign, transfer and
deliver to Vopia
all of Contributor’s
right, title and
interest in and
to all assets,
both tangible and
intangible, owned by
Contributor prior the
date hereof, and
all rights, privileges,
duties and obligations
of Contributor
associated with the Business
(the “Assigned Assets and Assumed Liabilities”), 
including, without limitation:

 

(i)                
all accounts, including,
without limitation, deposit
accounts, investment accounts,
all present and
future rights of
Contributor to payment
for services rendered,
all accounts receivable,
notes receivable, contract
rights, book debts,
debentures, drafts and
other obligations or
indebtedness owing to
Contributor, no matter
how they arise (including,
without limitation, any such obligation that
might be characterized as an account,
contract right or general
intangible under the UCC
in effect in any
jurisdiction);

 

(ii)                     
all inventory, including,
without limitation, all
goods, merchandise and
other personal property,
now owned by
the Contributor;

 

(iii)                   
all intellectual property,
including, without limitation,
royalty rights, copyrights, trademarks
and domain names;

 

		(iv)	all
                                         real property
                                         owned by
                                         Contributor;

 

(v)                     
all contract
rights, including without
limitation, all contracts
associated with the
Business;

 

		(vi)	all
                                         furniture, fixtures
                                         and equipment;

 

(vii)                
all of
Contributor’s unsatisfied debts, claims,
commitments, suits, obligations, and
other liabilities, (whether
absolute, accrued, asserted
or unasserted, fixed,
contingent or otherwise)
arising out of
Contributor’s ownership of the
Assigned Assets and
from the operation of
Contributor’s Business or other
activities of Contributor prior to the Effective Date including, without limitation,
contractual obligations (including lease obligations), local, state and
federal taxes, license fees, accrued and
unpaid costs of overhead, employment related
liabilities (including wages and liabilities related
to employee benefit), liabilities that may arise from adverse claims, disputes, proceedings,
investigations or inquiries (asserted, instituted or rendered, or otherwise existing or occurring, prior to, on or at any time
after, the Effective Date) arising out of Contributor’s ownership of the Assigned
Assets, from the operation of the Contributor’s Business or other activities
of Contributor prior to the Effective Date, accounts payable and trade debts and commitments based on express or implied warranties,
and any taxes, fees, expenses, liabilities, debts or obligations of Contributor relating to
this Agreement; and

 

    	 

    	 

    

 

(viii)                    
any costs
and expenses incurred
or to be
incurred in connection
with the transfer
and assumption of
the same.

 

(b)                       
Vopia hereby accepts
the assignment and
assumption of the
Assigned Assets and
Assumed Liabilities and
agrees to assume
and perform all
agreements, covenants and
obligations required of
Contributor thereunder.

 

(d)In
consideration of the
Assigned Assets and
Assumed Liabilities, Vopia
shall issue to
Contributor One Hundred
Thousand Shares (100,000)
shares of fully
paid and non-assessable
Common Stock.

 

2.                       
Further Assurances.
 Each party
hereto agrees to
execute, acknowledge, deliver,
file, record and
publish such further
instruments and documents
and do all
such further action
things as may
be required by
law, or as
may be required
to carry out
the intent and
purpose of this
Agreement.

 

3.                         
Third Party
Consents. If
and to the
extent the assignment
of any contract
of Contributor requires
third party consent,
Contributor agrees to
use its best
efforts to pursue
and obtain such
consent as soon
as practicable following
the Effective Date.

 

4.                       
Successors and
Assigns. This
Agreement shall be binding
upon the parties
hereto and their
respective executors, administrators,
successors and assigns,
and shall inure
to the benefit
of the parties
hereto and, except
as otherwise provided
herein, their respective
executors, administrators, successors
and assigns.

 

5.                       
Venue; Governing
Law. Each
of the parties
hereto consents to
the jurisdiction of
any court in Clark County,
Nevada for any action arising out
of matters relating to this Agreement. This
Agreement shall be
interpreted, construed and
governed by and
in accordance with
the laws of
the State of
Nevada without regard
to the conflicts
of law principles
thereof.

 

6.                       
Notices. All
notices required or permitted
hereunder shall be
sent in accordance
with the provisions
and to the
addresses maintained in
the records of
each party.

 

7.                        
Waiver. No
failure or delay by
either party in
exercising  any  right 
hereunder  shall operate
as a waiver
thereof nor shall
any single or
partial exercise thereof
preclude any other
or further exercise
of any other
right hereunder. Any
agreement on the
part of a
party hereto to
any such extension
or waiver shall
be valid only
if set forth
in an instrument
in writing signed
on behalf of
such party.

 

8.                        
Entire Agreement.
This Agreement (including
any schedules and
exhibits hereto) constitutes
the entire agreement,
and supersedes all
other prior agreements,
understandings, representations and warranties,
both written and
oral, among the
parties hereto with
respect to the
subject matter hereof.

9.                        
Severability.
The provisions
of this Agreement
shall be deemed
severable and the
invalidity or unenforceability
of any provision
shall not affect
the validity or
enforceability of the
other provisions hereof.
If any provision
of this Agreement,
or the application
thereof to any
person or any
circumstance is determined
by a court
of competent jurisdiction
to be invalid,
illegal, void or
unenforceable the remaining
provisions hereof, shall,
subject to the following sentence,
remain in full force and effect and shall in no way be affected, impaired or invalidated
thereby, so long as the economic or legal substance of the
transactions contemplated hereby is not
affected in any
manner adverse to any party. Upon
such determination that any provision
or the application thereof is invalid, illegal, void or unenforceable, the parties hereto shall negotiate in good faith
to modify this Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable manner
so that the transactions contemplated hereby are consummated as originally contemplated
to the fullest extent permitted by applicable law.

 

10.                       
Amendment.  This
Agreement may be changed
only by an
agreement in writing
signed by the
parties hereto.

 

11.                       
Counterparts.
This Agreement
may be executed
in one or
more counterparts and
as so executed
shall constitute a
single instrument.

 

[SIGNATURES
TO FOLLOW]

 

    	2

    	 

    

 

IN
WITNESS WHEREOF,
the parties hereto
have executed this
Agreement effective as
of the date
set forth in
the introductory paragraph
hereof.

 

 

Vopia,
Inc.

 

 

By:/s/
Jose De La Cruz

Name:
Jose De lA Cruz  

Title:
Chief Executive Officer

 

 

Gimwork
Project LP

 

By:/s/
Ramus Refer

Name:Rasmus
Refer

Title:Owner

 

    	3

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