Document:

Exhibit

EXHIBIT 10.2

FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT
AND JOINT ESCROW INSTRUCTIONS

(Jefferson at Perimeter Apartments, Atlanta, Georgia)

THIS FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT AND JOINT ESCROW INSTRUCTIONS (this “Amendment”) is made and entered into as of April 13, 2018, by and between BRE JEFFERSON ST. ANDREWS OWNER LLC, a Delaware limited liability company (“Seller”), and STEADFAST ASSET HOLDINGS, INC., a California corporation (“Buyer”).

RECITALS:

A.    Seller and Buyer are parties to that certain agreement titled “Purchase and Sale Agreement and Joint Escrow Instructions” dated as of March 26, 2018 (the “Agreement”).  All initially-capitalized terms not otherwise defined in this Amendment shall have the meanings set forth in the Agreement unless the context clearly indicates otherwise.

B.    Seller and Buyer mutually desire to amend the Agreement as provided in this Amendment.

AGREEMENTS:

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

1.Service Contracts.  Exhibit “H” to the Agreement is hereby deleted in its entirety and replaced with Exhibit “H” attached hereto.  For the avoidance of doubt, the Comcast contract referenced in Exhibit “H” as “Cable TV – Services Agreement” shall refer to that certain Services Agreement between Seller and Comcast Cable Communications Management, LLC (together with its successors and assigns, “Comcast”) dated as of April 1, 2018 (the “Service Agreement”), and not that certain Services Agreement between Seller’s predecessor-in-interest (i.e., Jefferson at Perimeter, L.P.) and Comcast of Georgia/Virginia, Inc. dated as of October 19, 2009 (the “2009 Agreement”), which shall not be assigned by Seller or assumed by Buyer at Closing.  Buyer and Seller acknowledge that the Service Agreement supersedes the 2009 Agreement pursuant to Section 17(h) of such Service Agreement and the 2009 Agreement is no longer in effect as of the date of this Amendment.  Additionally, the Comcast contract referenced in Exhibit “H” as “Cable TV – Compensation Agreement” shall refer to that certain Compensation Agreement between Seller and Comcast dated as of April 1, 2018 (the “Compensation Agreement”).

	
			
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	Jefferson at Perimeter - First Amendment to Purchase Agreement and Joint Escrow Instructions

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2.    Laundry Contract.  The Agreement is hereby amended to provide that the Laundry Contract is not a “Must Assume” Service Contract. In the event Buyer notifies Seller in Buyer’s Service Contract Notice that Buyer desires to have the Laundry Contract terminated at Closing, then such termination shall be at Buyer’s sole cost and expense, including, without limitation, payment by Buyer of any and all door fees, termination fees and penalties payable on, after or as a result of such termination, and any reimbursements of “Allowance” (as that term is defined in the Laundry Contract) due upon an early termination arising under the Laundry Contract prior to Closing.
3.    Income Under Cable Contract.  Notwithstanding the provisions of Section 6.9.5 of the Agreement, all rights of Seller to receive income pursuant to, and referred to as “Per Unit Compensation” in the Compensation Agreement and “Payment” in the Service Agreement, shall be assigned to Buyer upon Closing and not prorated, and at Closing Buyer shall receive a credit against the Purchase Price in an amount equal to any “Per Unit Compensation” or “Payment” (as such terms are defined in the Compensation Agreement and the Service Agreement, respectively) received by Seller prior to the Closing Date.
4.    No Other Amendments; This Amendment Governs and Controls.  Except as expressly modified by this Amendment, the Agreement shall remain unmodified and in full force and effect and is hereby reinstated, ratified and affirmed.  To the extent any of the provisions of this Amendment are inconsistent with any of the provisions set forth in the Agreement, the provisions of this Amendment shall govern and control.

5.    Authority.  Each party represents to the other party or parties that the individual executing this Amendment on behalf of such party has the capacity and authority to execute and deliver this Amendment on behalf of such party, and that this Amendment, once executed and delivered, is the legal, valid and binding obligation of such party.

6.    Governing Law.  This Amendment shall be governed by and construed in accordance with the laws of the State of Georgia.
7.    Counterparts.  This Amendment may be executed in one or more counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same document.  The delivery of an executed counterpart of this Amendment by facsimile or as a PDF or similar attachment to an e-mail shall constitute effective delivery of such counterpart for all purposes with the same force and effect as the delivery of an original, executed counterpart.
8.    Successors and Assigns.  This Amendment is binding upon and shall inure to the benefit of the successors and assigns of the parties to this Amendment.

[Signatures appear on following pages]

	
			
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IN WITNESS WHEREOF, Seller and Buyer have executed this Amendment as of the day and year first above written.

	
	
	SELLER:

	BRE JEFFERSON ST. ANDREWS OWNER LLC,
a Delaware limited liability company

By:   __/s/ Olivia Hamlet______
Name:  Olivia Hamlet
Title:    Managing Director and Vice President

(Signatures continue on following page)

	
			
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	Jefferson at Perimeter - First Amendment to Purchase Agreement and Joint Escrow Instructions

	
	
	

BUYER:

	

STEADFAST ASSET HOLDINGS, INC.,
a California corporation

By:   __/s/ Ana Marie del Rio______
Name:  _Ana Marie del Rio_______
Title:__Secretary_______________

	
			
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	Jefferson at Perimeter - First Amendment to Purchase Agreement and Joint Escrow Instructions

EXHIBIT “H”
SERVICE CONTRACTS

	
			
	Vendor
	Service Provided
	Must Assume

	Comcast
	Cable TV – Services Agreement
	Yes

	Comcast
	Cable TV – Compensation Agreement
	Yes

	Laundry
	CSC
	No

	Avalon Water
	Chill Water
	Yes

	Colt Security Agency
	Intrusion Alarm
	No

	Rupert Landscape
	Landscape Maintenance
	Yes

	Callmax
	Answering Service
	No

	Atlanta Pest Control/Terminx
	Termite
	Yes

	Nuvox/Windstream
	Telephone
	No

	EGP
	Copy Machine Service
	Yes

	Terminx
	Pest Control
	Yes

	Terminx
	Pest Control
	Yes

	
			
	 
	H-1Document

EXHIBIT 10.3

ASSIGNMENT AND ASSUMPTION OF PURCHASE AGREEMENT

For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, STEADFAST ASSET HOLDINGS, INC., a California corporation (“Assignor”), hereby assigns to SIR JEFFERSON, LLC, a Delaware limited liability company (“Assignee”), all of Assignor’s rights and obligations under and in regard to that certain Purchase and Sale Agreement and Joint Escrow Instructions dated March 26, 2018, (as may have been amended or may hereafter be amended, the “Purchase Agreement”), between BRE Jefferson St. Andrews Owner LLC, a Delaware limited liability company  (“Seller”) and Assignor for the purchase and sale of that certain real property located in Plainfield, Indiana, as more particularly described in Exhibit A attached hereto (the “Property”).

Assignee hereby agrees to and shall assume, perform and be fully responsible for the performance of all of the obligations of Assignor under the Purchase Agreement.

All of the provisions, covenants and agreements contained in the Assignment shall extend to and be binding upon the respective legal representatives, successors and assigns of Assignor and Assignee.  This Assignment represents the entire agreement between Assignor and Assignee with respect to the subject matter of the Assignment, and all prior or contemporaneous agreements regarding such matters are hereby rendered null and void and of no force and effect. 

(SIGNATURES APPEAR ON FOLLOWING PAGE)

    
	
			
	Assignment of PSA - SIR Jefferson, LLC
	 
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WITNESS THE EXECUTION HEREOF, as of this June 11, 2018.

ASSIGNOR:

STEADFAST ASSET HOLDINGS, INC., 
a California corporation

By:  __/s/ Ana Marie del Rio__________
Ana Marie del Rio, Vice President 
 
 
                    
ASSIGNEE:

SIR JEFFERSON, LLC
a Delaware limited liability company

By:     Steadfast Income Advisor, LLC,
a Delaware limited liability company, 
its Manager
                            
                        
By:   __/s/ Kevin Keating_____________ 
Kevin J. Keating, 
Chief Accounting Officer
          

                            

    
	
			
	Assignment of PSA - SIR Jefferson, LLC
	 
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Exhibit A

DESCRIPTION OF THE LAND

ALL THAT TRACT OR PARCEL OF LAND LYING IN AND BEING A PART OF LAND LOT 363 OF THE 18TH DISTRICT, DEKALB COUNTY, GEORGIA AND BEING MORE BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
 

 
BEGINNING AT THE INTERSECTION OF THE NORTHERLY RIGHT-OF-WAY OF VALLEY VIEW ROAD (60 FOOT RIGHT-OF-WAY) AND THE EASTERLY RIGHT-OF-WAY OF ASHFORD-DUNWOODY ROAD (RIGHT-OF-WAY VARIES) PROCEED NORTHERLY ALONG SAID ASHFORD-DUNWOODY ROAD RIGHT-OF-WAY 124.94 FEET TO A POINT AND THE TRUE POINT OF BEGINNING.
 

 
THENCE PROCEED ALONG SAID RIGHT-OF-WAY NORTH 01 DEGREE 38 MINUTES 09 SECONDS WEST 616.66 FEET TO A POINT; THENCE PROCEED ALONG A CURVE TO THE RIGHT NORTH 41 DEGREES 35 MINUTES 01 SECOND EAST WITH AN ARC LENGTH OF 96.59 FEET AND A RADIUS OF 59 FEET TO A POINT; THENCE PROCEED NORTH 84 DEGREES 48 MINUTES 12 SECONDS EAST A DISTANCE OF 309.31 FEET TO A POINT; THENCE PROCEED ALONG A CURVE TO THE LEFT NORTH 44 DEGREES 58 MINUTES 59 SECONDS EAST WITH AN ARC LENGTH OF 485.88 FEET AND A RADIUS OF 360.30 FEET TO A POINT; THENCE PROCEED NORTH 05 DEGREES 44 MINUTES 20 SECONDS EAST A DISTANCE OF 353.16 FEET TO A POINT; THENCE PROCEED ALONG A CURVE TO THE RIGHT NORTH 38 DEGREES 12 MINUTES 51 SECONDS EAST WITH AN ARC LENGTH OF 328.64 FEET AND A RADIUS OF 287.70 FEET TO A POINT; THENCE PROCEED NORTH 70 DEGREES 19 MINUTES 47 SECONDS EAST 233.32 FEET TO A POINT; THENCE PROCEED ALONG A CURVE TO THE LEFT NORTH 68 DEGREES 52 MINUTES 34 SECONDS EAST WITH AN ARC LENGTH OF 72.96 FEET AND A RADIUS OF 356.71 FEET TO A POINT; THENCE LEAVING SAID RIGHT-OF-WAY PROCEED SOUTH 23 DEGREES 47 MINUTES 37 SECONDS EAST A DISTANCE OF 75.25 FEET TO A POINT; THENCE PROCEED SOUTH 63 DEGREES 40 MINUTES 14 SECONDS WEST 246.87 FEET TO A POINT; THENCE PROCEED SOUTH 02 DEGREES 02 MINUTES 36 SECONDS EAST 369.16 FEET TO A POINT; THENCE PROCEED SOUTH 47 DEGREES 51 MINUTES 55 SECONDS EAST 465.94 FEET TO A POINT; THENCE PROCEED NORTH 89 DEGREES 11 MINUTES 41 SECONDS WEST 250.00 FEET TO A POINT; THENCE PROCEED SOUTH 06 DEGREES 08 MINUTES 50 SECONDS WEST 261.70 FEET TO A POINT; THENCE PROCEED NORTH 87 DEGREES 43 MINUTES 14 SECONDS WEST 100.00 FEET TO A POINT; THENCE PROCEED SOUTH 27 DEGREES 07 MINUTES 21 SECONDS EAST 93.58 FEET TO A POINT: THENCE PROCEED SOUTH 51 DEGREES 40 MINUTES 51 SECONDS WEST 91.67 FEET TO A POINT; THENCE 

    
	
			
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PROCEED SOUTH 24 DEGREES 02 MINUTES 19 SECONDS EAST 28.50 FEET TO A POINT; THENCE PROCEED SOUTH 11 DEGREES 34 MINUTES 21 SECONDS WEST 142.13 FEET TO A POINT; THENCE PROCEED SOUTH 23 DEGREES 19 MINUTES 16 SECONDS WEST 57.64 FEET TO A POINT; THENCE PROCEED SOUTH 87 DEGREES 55 MINUTES 58 SECONDS EAST 47.00 FEET TO A POINT; THENCE PROCEED SOUTH 03 DEGREES 51 MINUTES 24 SECONDS EAST 253 .68 FEET TO A POINT ALONG THE NORTHERN BOUNDARY OF THE VALLEY VIEW SUBDIVISION AS MORE PARTICULARLY DESCRIBED IN PLAT BOOK 23, PAGE 9, DEKALB COUNTY, GEORGIA RECORDS; THENCE PROCEED ALONG SAID BOUNDARY NORTH 89 DEGREES 14 MINUTES 06 SECONDS WEST 300.84 FEET TO A POINT; THENCE PROCEED SOUTH 89 DEGREES 18 MINUTES 03 SECONDS WEST 129.97 FEET TO A POINT; THENCE PROCEED SOUTH 89 DEGREES 21 MINUTES 21 SECONDS WEST 260.08 FEET TO A POINT; THENCE PROCEED SOUTH 89 DEGREES 17 MINUTES 46 SECONDS WEST 130.05 FEET TO A POINT; THENCE PROCEED NORTH 89 DEGREES 56 MINUTES 55 SECONDS WEST A DISTANCE OF 145.07 FEET TO A POINT ON SAID RIGHT-OF-WAY OF ASHFORD-DUNWOODY ROAD AND THE TRUE POINT OF BEGINNING; CONTAINING 24.74 ACRES AS MORE PARTICULARLY DESCRIBED ON THAT CERTAIN PLAT OF SURVEY FOR NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY, MAGNOLIA COMMONS JOINT VENTURE AND CHICAGO TITLE INSURANCE COMPANY, PREPARED BY BLUE RIDGE ENGINEERING, INC., DATED SEPTEMBER 17, 1994, LAST REVISED MARCH 21, 1995, BEARING THE SEAL AND CERTIFICATION OF H. TATE JONES, GEORGIA PROFESSIONAL LAND SURVEYOR NO. 2339.

    
	
			
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