Document:

Exhibit 10.6

 

ASSIGNMENT AND ASSUMPTION OF 

PURCHASE AND SALE AGREEMENT AND ESCROW
INSTRUCTIONS

 

For good and valuable consideration
the receipt and sufficiency of which is hereby acknowledged, the undersigned, Inland Real Estate Acquisitions, Inc., an
Illinois corporation, (“Assignor”), hereby assigns to Inland Real Estate Income Trust, Inc.,  a Maryland corporation
(“Assignee”), all of Assignor’s right, title and interest as a party to that certain Purchase and Sale Agreement
and Escrow Instructions dated as of August 21, 2015 (as amended, the “Purchase Agreement”) by and between Assignor,
as the buyer, and CBL/Settlers Ridge GP, LLC; CBL/Settlers Ridge LP, LLC; Settlers Ridge Management GP, LLC and Settlers Ridge
Management LP, LLC, collectively, as the seller, but only with respect to the purchase and sale of certain real property and improvements
listed on Exhibit A attached hereto and commonly known as Settlers Ridge Shopping Center (“Property”).

 

By execution hereof by
Assignee, Assignee for itself and its successors and assigns hereby accepts the assignment and assumes all of the obligations of
Assignor under the Purchase Agreement with respect to the Property; provided, however, Assignor agrees to remain liable under the
Purchase Agreement as if Assignor is still a party to such Purchase Agreement.

 

This Assignment is effective
as of the 1st day of October, 2015.

 

	 	ASSIGNOR:	
        Inland Real Estate Acquisitions, Inc.,

        an Illinois corporation

	 	 	 	 
	 	 	By:	/s/ Matthew Tice
	 	 	Name:	Matthew Tice
	 	 	Its:	Vice President
	 	 	 	 
	 	 	 	 
	 	ASSIGNEE:	
        Inland Real Estate Income Trust, Inc.,

        a Maryland corporation

	 	 	 	 
	 	 	By:	David Z. Lichterman
	 	 	Its:	Vice President, Treasurer & CAO

 

    	 

    	 

    

EXHIBIT A

 

LEGAL DESCRIPTION

 

(see attached)

 

    	 

    	 

    

First Described:

 

All those certain lots or pieces of ground situate in the Township
of Robinson, County

of Allegheny and Commonwealth of Pennsylvania, being Parcels B and
D in the

Robinson Park Associates Consolidation Plan, as recorded in the Department
of Real

Estate of Allegheny county, Pennsylvania, in plan Book Volume 257,
page 66; also

Parcel 1 in the Settlers Ridge Subdivision Plan No. 1, as recorded
in the Department

of Real Estate of Allegheny county, Pennsylvania, in plan Book volume
263, page

78; and also Lots 2,3,5,6,7 and 8 on the Settlers Ridge Subdivision
Plan No. 2, as

recorded in the Department of Real Estate of Allegheny County, Pennsylvania,
in Plan

Book Volume 264, page 112.

 

Being designated as the following tax parcels

Parcel B Block 334-H, Lot 190

Parcel D Block 265-J, Lot 10

Parcel 1 Block 334-H, Lot 100

Lot 2 Block 265-E, Lot 50

Lot 3 Block 265-K, Lot 60

Lot 5 Block 265-8, Lot 100

Lot 6 Block 265-8, Lot 125

Lot 7 Block 334-H, Lot 60

Lot 8 Block 334-H, Lot 80

 

 

 

Second Described:

 

All those certain lots or pieces of ground situate in the Township
of Robinson, County

of Allegheny and Commonwealth of Pennsylvania, being Lot 1 and Lot
4 on the

Settlers Ridge Subdivision Plan No. 2, as recorded in the Department
of Real Estate

of Allegheny County, Pennsylvania, in Plan Book Volume 264, page
112.

 

Second Described being designated as the following tax parcels:

Lot 1 Block 265-E, Lot 1

Lot 4 Block 265-J, Lot 25

 

 

 

Third Described:

 

Together with those non-exclusive easements benefitting the Land
as set forth in

that certain Reciprocal Easement, Covenant and Restriction Agreement
between

Settlers Ridge L.P. and Settlers Ridge Management L.P., dated December
10, 2010

and recorded in Deed Book Volume 14454, page 389; as amended by First

Amendment to Reciprocal Easement, Covenant and Restriction Agreement
between

Settlers Ridge L.P. and Settlers Ridge Management L.P., dated June
11, 2012 and

recorded in Deed Book Volume 14943, page 228.

 

 

 

 

Fourth Described:

 

Together with the easement rights as set forth in Easement Agreement
between

Chief Commercial Construction, L.P. and Settlers Ridge, L.P., dated
May 9, 2007 and

recorded in Deed Book Volume 13560, page 334; as assigned by Assignment
and

Assumption of Agreements from Settlers Ridge, L.P. to Settlers Ridge
Management,

L.P., dated December 15, 2010, effective as of December 17, 2010
and recorded in

Deed Book Volume 14473, page 513.Exhibit 10.7

 

 

ASSIGNMENT
OF PARTNERSHIP INTEREST

 

 

THIS
ASSIGNMENT OF PARTNERSHIP INTEREST (this
"Assignment") dated as
of the 1st day
of October, 2015,
by and between
CBL/SETTLERS RIDGE GP, LLC
("Assignor") and INLAND REAL
ESTATE INCOME TRUST, INC. ("Assignee").

 

WHEREAS,
Assignor and Assignee's
predecessor in interest entered
into that certain Purchase
and Sale Agreement
and Escrow Instructions
dated as of August 21, 2015, as amended
and assigned, (the "Agreement"), for the
sale and purchase of certain "Ownership
Interests" (as more particularly described
in Exhibit A attached here).

 

WHEREAS, Assignor
desires to assign,
transfer, set over
and deliver to
Assignee all of Assignor's right,
title and interest
in and to
the Ownership Interests as hereinafter
provided; and

 

WHEREAS, Assignee
desires to accept the assignment and assume the
duties and obligations of Assignor
with respect to
the Ownership Interests.

 

NOW,
THEREFORE, in accordance
with the Agreement
and in consideration
of the sum of
Ten Dollars ($10.00), the
sufficiency and receipt of which are hereby acknowledged, the parties do
hereby covenant and
agree as follows and
take the following actions:

 

1.Assignor
does hereby assign,
transfer, set over
and deliver unto
Assignee all of the
Assignor's right, title and
interest, in and to, all of its right, title
and interest in and to the Ownership Interests. Assignor hereby agrees that such assignment is and shall
be irrevocable, unconditional and shall survive and shall not be affected by the subsequent dissolution, bankruptcy or
insolvency of Assignor.

    1 

     

    

 

2.Assignee
hereby accepts the
foregoing assignment of
the Ownership Interests
and hereby assumes all
duties and obligations
of Assignor with
respect to the Ownership Interests,
to the extent such
duties and obligations arise or
accrue from and after the date of
this Assignment. Assignee shall defend, indemnify and hold harmless Assignor from and against any and all Claims
asserted against or incurred by Assignor
as a result of any acts
or omissions, which arise or accrue after the date of this Assignment, in connection
with the Ownership Interests. "Claims" means claims, demands, causes of action, losses, damages, liabilities,
judgments, costs and expenses (including,
without limitations, reasonable attorneys' fees,
whether suit is instituted or not). Notwithstanding
anything to the contrary contained herein, during the Property Representations
Survival Period (as such term is defined in the Agreement), Assignor shall defend, indemnify and hold Assignee harmless from and
against any and all Claims (i) for personal injury which are covered by Assignor's insurance resulting from events occurring during
the period of ownership by O'Connor/RealVest
Retail Holding Company LLC beginning on December 17, 2010, and (ii) made by
Barnes & Noble Booksellers, Inc., or its successors and/or assigns ("B&N
Tenant"), with respect to Assignor's incorrect
billing of B&N Tenant's pro rata share of the real property taxes
and assessments for years prior to calendar year 2015; provided, however,
that in each case of clauses (i) and
(ii) above, Assignor's liability under this defense, indemnity and hold harmless agreement
shall be limited to the amount of, and recoverable only out of, the Holdback (as such term is defined in the Agreement).

 

3.This
Assignment is made
without any express
or implied warranty
of any kind, expect
as explicitly set
forth in the Agreement.

 

4.This
Assignment shall be
(a) binding upon, and
inure to the
benefit of, the
parties to this Assignment
and their respective successors
and assigns, and (b)
construed in accordance with the laws of the
Commonwealth of Pennsylvania, without
regard to the application of choice
of law principles.

 

5.This
Assignment may be
executed in several
counterparts, each of
which shall constitute an original
and all of
which together shall
constitute one and the same
instrument.

 

 

 

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    2 

     

    

 

IN
WITNESS WHEREOF, this
Assignment has been
signed, sealed and
delivered by the
parties as of the
date first above written.

 

	 	
        ASSIGNOR:

         

        CBL/SETTLERS RIDGE GP, LLC,

        a Pennsylvania limited liability company

	 	 	 	 	 
	 	By:	
        O’CONNOR/REALVEST SETTLERS RIDGE (GP) LLC,

        a Delaware limited liability company,

        its sole member

	 	 	 	 	 
	 	 	By:	
        O’CONNOR/REALVEST RETAIL HOLDING

        COMPANY LLC, a Delaware limited liability

        company, its sole member

	 	 	 	 	 
	 	 	 	By:	
        OC-RV RETAIL LLC,

        a Delaware limited liability company,

        its managing member

	 	 	 	 	 
	 	 	 	 	By:	/s/ William Q. O’Connor
	 	 	 	 	Name:	William Q. O’Connor
	 	 	 	 	Title:	President
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	
        ASSIGNEE:

         

        INLAND REAL ESTATE INCOME TRUST, INC.,

        a Maryland corporation

	 	 	 	 	 	 
	 	By:	/s/ David Z. Lichterman
	 	Name:	David Z. Lichterman
	 	Its:	Vice President, Treasurer & CAO

 

3

 

    	 

    	 

    

 

Exhibit
A

OWNERSHIP
INTERESTS

 

General
Partner of Settlers
Ridge, L.P., a
Pennsylvania limited partnership
- 1%

partnership
interestExhibit
10.8

ASSIGNMENT
OF PARTNERSHIP INTEREST

 

 

THIS
ASSIGNMENT OF PARTNERSHIP INTEREST
(this "Assignment") dated
as of the 1st
day of October,
2015, by and
between CBL/SETTLERS RIDGE LP,
LLC ("Assignor") and INLAND REAL ESTATE
INCOME TRUST, INC.
("Assignee").

 

WHEREAS,
Assignor and Assignee's
predecessor in interest entered
into that certain Purchase
and Sale Agreement
and Escrow Instructions
dated as of August 21, 2015, as amended and assigned, (the "Agreement"),
for the sale and purchase of certain
"Ownership Interests" (as more particularly described in
Exhibit A attached here).

 

WHEREAS,
Assignor desires to
assign, transfer, set
over and deliver
to Assignee all
of Assignor's right, title and
interest in and
to the Ownership Interests as hereinafter
provided; and

 

WHEREAS,
Assignee desires to
accept the assignment
and assume the
duties and obligations of
Assignor with respect
to the Ownership
Interests.

 

 

NOW,
THEREFORE, in accordance
with the Agreement
and in consideration
of the sum of Ten
Dollars ($10.00), the
sufficiency and receipt
of which are hereby acknowledged, the
parties do hereby covenant and agree as follows
and take the following actions:

 

1.Assignor
does hereby assign,
transfer, set over
and deliver unto
Assignee all of the
Assignor's right, title and
interest, in and
to, all of its
right, title and interest in
and to the Ownership Interests. Assignor hereby
agrees that such assignment is and shall
be irrevocable, unconditional and shall survive and shall not be affected by the subsequent dissolution, bankruptcy or
insolvency of Assignor.

    1

     

    

 

2.
Assignee hereby accepts
the foregoing assignment
of the Ownership Interests
and hereby assumes all
duties and obligations
of Assignor with
respect to the
Ownership Interests, to the extent such
duties and obligations arise
or accrue from
and after the date of this
Assignment. Assignee shall defend, indemnify
and hold harmless Assignor from and against any and
all Claims asserted against or incurred by
Assignor as a result of any acts
or omissions, which arise or accrue
after the date of
this Assignment, in connection with
the Ownership Interests. "Claims"
means claims, demands, causes of action,
losses, damages, liabilities, judgments, costs and
expenses (including, without limitations, reasonable attorneys' fees,
whether suit is instituted or not). Notwithstanding anything to the contrary
contained herein, during the Property Representations Survival Period (as such
term is defined in the Agreement), Assignor shall defend, indemnify and
hold Assignee harmless from and against
any and all Claims (i) for personal
injury which are covered by
Assignor's insurance resulting from events
occurring during the period of ownership
by O'Connor/RealVest Retail Holding Company LLC beginning on
December 17, 2010, and (ii) made by Barnes & Noble Booksellers, Inc., or
its successors and/or assigns ("B&N Tenant"), with
respect to Assignor's incorrect billing of
B&N Tenant's pro rata share of the real
property taxes and assessments for years prior
to calendar year 2015; provided,
however, that in each case of clauses (i)
and (ii) above, Assignor's liability under this defense, indemnity
and hold harmless agreement shall be limited to
the amount of, and recoverable only
out of, the
Holdback (as such term is defined
in the Agreement).

 

3.This
Assignment is made
without any express
or implied warranty of
any kind, expect as
explicitly set forth
in the Agreement.

 

4.This
Assignment shall be
(a) binding upon,
and inure to
the benefit of,
the parties to this
Assignment and their
respective successors and
assigns, and (b) construed in accordance
with the laws of the Commonwealth
of Pennsylvania, without regard to the application
of choice of law principles.

 

5.This Assignment
may be executed in
several  counterparts, each of
which shall constitute an original
and all of
which together shall
constitute one and the same instrument.

 

 

 

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left blank]

    2

     

    

 

 

IN
WITNESS WHEREOF, this
Assignment has been
signed, sealed and
delivered by the
parties as of the
date first above written.

 

	 	
        ASSIGNOR:

         

        CBL/SETTLERS RIDGE LP, LLC,

        a Pennsylvania limited liability company

	 	 	 	 	 
	 	By:	
        O’CONNOR/REALVEST SETTLERS RIDGE (LP) LLC,

        a Delaware limited liability company,

        its sole member

	 	 	 	 	 
	 	 	By:	
        O’CONNOR/REALVEST RETAIL HOLDING

        COMPANY LLC, a Delaware limited liability

        company, its sole member

	 	 	 	 	 
	 	 	 	By:	
        OC-RV RETAIL LLC,

        a Delaware limited liability company,

        its managing member

	 	 	 	 	 
	 	 	 	 	By:	/s/ William Q. O’Connor
	 	 	 	 	Name:	William Q. O’Connor
	 	 	 	 	Title:	President
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	
        ASSIGNEE:

         

        INLAND REAL ESTATE INCOME TRUST, INC.,

        a Maryland corporation

	 	 	 	 	 	 
	 	By:	/s/ David Z. Lichterman
	 	Name:	David Z. Lichterman
	 	Its:	Vice President, Treasurer & CAO

 

    3

     

    

 

Exhibit
A

OWNERSHIP
INTERESTS

 

Limited
Partner of Settlers
Ridge, L.P., a
Pennsylvania limited partnership
- 99%

partnership
interest

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