Document:

EXHIBIT
      10.1

    SECOND
      ADDENDUM

    TO

    SECURITIES
      PURCHASE AGREEMENT

    

    Addendum
      dated as of March 17, 2008 to Securities Purchase Agreement dated March 31,
      20081 
      by and
      among George Foreman Enterprises, Inc., a Delaware corporation (the “Company”)
      and the Buyers set forth on the signature pages affixed to the Securities
      Purchase Agreement (individually a “Buyer” or collectively “Buyers”).
      Capitalized terms used herein shall have the meaning given to them in the
      Securities Purchase Agreement.

    

    1. Section
      1(b) of the Securities Purchase Agreement is amended to read as
      follows:

    

    “(b) Closing
      Dates.
      The
      closings of the purchase and sale of the Convertible Notes (the “Closings”)
      shall take place at the offices of Gottbetter & Partners, LLP, 488 Madison
      Avenue, 12th
      Floor,
      New York, NY 10022 or such other place as is mutually agreed to by the Company
      and the Buyers on or before March 31, 2008 subject to notification of
      satisfaction of the conditions of the Closings set forth herein (or such later
      date as is mutually agreed to by the Company and the Buyers).”

    

    2. In
      the
      event of any conflict between the provision of this Addendum and the provisions
      of the Securities Purchase Agreement, the provisions of this Addendum shall
      control. Otherwise, the provisions of the Securities Purchase Agreement shall
      remain in full force and effect. 

     

    
      	 	 	 
	 	
              COMPANY:

            
	 	 
	 	GEORGE FOREMAN ENTERPRISES, INC.
	 
 	 
 	 
 
	 	By:  	 
	 	
              

              Name:

              Title:

            
	 	 

      	 	 	 
	 	
              BUYER:

            
	 	 
	 	
              If
                an entity: 

              

              Print
                Name of Entity: 

            
	 
 	 
 	 
 
	 	 	 
	 	By:  	 
	 	
              

              Name:

              Title:

            
	 	 

      	 	 	 
	 	 
	 	
              If
                an individual:

            
	 
 	 
 	 
 
	
              Print
                Name:

            	 
	 	 	 
	
               Signature:

            	 
	 	
               

            
	 	 

    

      

      
        1 Will
          reflect the Closing Date. Not to be completed by
          Buyer.Unassociated Document

    EXHIBIT
      10.1

     

     

    

    CONTRACT
      OF SALE

    

    

    TRB
      CHATTANOOGA LLC 

    

     

    -
      Seller -

     

    

    FREEMAN
      WEBB INVESTMENTS, INC.

    

    -
      Purchaser -

    

    

    as
      of April 17, 2008

    

    

      
        	 	
                Marina
                  Pointe Apartments

              
	 	
                5750
                  Lake Resort Drive

              
	 	
                Chattanooga,
                  Tennessee

              

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    TABLE
      OF CONTENTS

    

    Page:

    

      1. Purchase
        Price

      

      2. Escrow
        

      

      3. Premises
        Sold "As Is" 

      

      4. Leases
        

      

      5. Title

      

      6. Acceptance
        of the Deed 

      

      7. Inspections

      

      8. No
        Financing Contingency 

      

      9. Authorization
        of Purchaser and Seller 

      

      10. Included
        Premises .

      

      11. Closing
        Costs 

      

      12. Closing
        Date 

      

      13. Closing
        Documents

      

      14. Preclosing
        Obligations of Seller

      

      15. Condemnation
        

      

      16. Casualty

      

      17. Assignment
        

      

      18. Brokers
        

      

      19. Section
        1031 Tax Deferred Exchange

      

      20. OFAC
        Matters

      

      21. Miscellaneous

       

    

    
      
         

      

      
        i

        
          

        

      

      
         

      

    

    CONTRACT
      OF SALE

    

    This
      CONTRACT OF SALE (this "Contract") is made and entered into as of the
      17th
      day of
      April, 2008 by and between TRB Chattanooga LLC, a Tennessee limited liability
      company having an office at 60 Cutter Mill Road, Suite 303, Great Neck, New
      York
      11021 ("Seller"), and Freeman Webb Investments, Inc., a Tennessee corporation
      having an office at 555 Great Circle Road, Suite 100, Nashville, Tennessee
      37228-1310 ("Purchaser").

    

    WITNESSETH:

    

    WHEREAS,
      Seller is the current owner of the property known as the Marina Pointe
      Apartments, 5750 Lake Resort Drive, Chattanooga, Tennessee and more particularly
      described on Exhibit A attached hereto (the "Premises"); and

    

    WHEREAS,
      Seller wishes to sell and Purchaser wishes to acquire the Premises in accordance
      with the terms hereof.

    

    NOW,
      THEREFORE, in consideration of the mutual covenants herein contained, the
      sufficiency of which being hereby acknowledged, the parties hereto do hereby
      agree as follows:

    

    1. Purchase
      Price.
      Seller
      agrees to sell and Purchaser agrees to acquire the Premises for the sum of
      $27,300,000.00 payable as follows:

    

    $300,000.00
      within three (3) business days after the execution and delivery of this Contract
      of Sale as the nonrefundable (except as specifically set forth herein)
      Downpayment (hereinafter defined), by wire transfer to the order of First
      American Title Insurance Company, as escrow agent (“Escrow Agent”), which sum
      shall be held in escrow pursuant to the terms hereof; and

    

    $27,000,000.00,
      at the Closing, by wire transfer of immediately available funds to an account
      designated by Seller.

    

    2. Escrow.
      Within
      three (3) business days after the execution of this Contract of Sale, Purchaser
      will deliver to Escrow Agent a wire transfer in the amount of $300,000.00 as
      the
      downpayment (the "Downpayment"). Escrow Agent shall deposit the Downpayment
      into
      an interest-bearing account(s) maintained at a federally insured financial
      institution(s). Escrow Agent shall deliver the Downpayment in accordance with
      this Contract of Sale, or a joint instruction signed by Seller and Purchaser,
      or
      separate instructions of like tenor signed by Seller and Purchaser, or a final
      judgment of a court of competent jurisdiction. Escrow Agent hereby is authorized
      and directed to deliver the Downpayment to Seller if, as and when title
      closes. If
      Escrow
      Agent shall receive a written request by one party for the release of the
      Downpayment other than as specifically authorized above, Escrow Agent will
      give
      a copy thereof to the other party. If Escrow Agent shall not receive an
      objection from the other party within five (5) business days, then Escrow Agent
      shall so release the Downpayment. Provided, however, in the event that Purchaser
      requests release of the Downpayment as a result of Purchaser terminating this
      Contract prior to the end of the Due Diligence Period, no consent or approval
      from the Seller is necessary and the Downpayment shall be immediately returned
      to Purchaser. If Escrow Agent receives an objection, then Escrow Agent shall
      continue to hold the Downpayment in accordance with the terms hereof. Escrow
      Agent at any time may deposit the Downpayment with a court of competent
      jurisdiction, and upon notice to Seller and Purchaser of such deposit, Escrow
      Agent shall have no further responsibility or liability hereunder. Escrow Agent
      may act upon any instruction or other writing believed by Escrow Agent in good
      faith to be genuine and to be signed or presented by the proper persons. Except
      as otherwise noted herein, any interest or income thereon shall be paid to
      the
      party entitled to receive the Downpayment; provided that if Seller shall receive
      the interest at Closing then such interest shall serve as a credit against
      the
      purchase price. If Purchase fails to make the deposit of the Downpayment as
      required hereunder, this Contract shall terminate and neither party shall have
      any further obligations hereunder to the other.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

       

    

    Seller
      and Purchaser acknowledge that Escrow Agent is merely a stakeholder, and that
      Escrow Agent shall not be liable for any act or omission unless taken or
      suffered in bad faith, in willful disregard of this Contract of Sale or
      involving gross negligence. Escrow Agent shall not be liable for the failure
      of
      the institution(s) in which the Downpayment has been deposited or for
      establishing accounts in excess of applicable guaranty limits. Seller and
      Purchaser agree to indemnify and hold Escrow Agent harmless from and against
      any
      reasonable costs, claims or expenses incurred in connection with the performance
      of the Escrow Agent's duties hereunder, unless such costs, claims or expenses
      were occasioned by Escrow Agent's bad faith or its willful disregard of this
      Contract of Sale.

    

    Escrow
      Agent shall not be bound by any agreement between Seller and Purchaser, whether
      or not Escrow Agent has knowledge thereof, and Escrow Agent's only duties and
      responsibilities shall be to hold, and to dispose of, the Downpayment and
      interest earned thereon in accordance with this Contract of Sale. Escrow Agent
      may consult with counsel, and any opinion of counsel shall be full and complete
      authorization and protection in respect to any action taken or omitted by Escrow
      Agent hereunder in good faith and in reliance upon such opinion.

    

    All
      instructions or notices given to the Escrow Agent shall be in writing and
      delivered in accordance with the requirements of this Contract of Sale. For
      purposes of this paragraph, such instructions and notices shall be deemed
      delivered on the date of delivery, if by hand, or on the date of mailing if
      mailed, except that no instruction or notice to Escrow Agent shall be deemed
      effectively delivered to Escrow Agent until actual receipt thereof by Escrow
      Agent. 

    

    3. Premises
      Sold "AS
      IS".
      A. PURCHASER
      EXPRESSLY UNDERSTANDS AND AGREES AND ACKNOWLEDGES THAT SELLER WOULD NOT HAVE
      ENTERED THIS CONTRACT OF SALE WITHOUT THE EXPRESS PROVISIONS OF THIS PARAGRAPH
      3. IN PARTICULAR, PURCHASER ACKNOWLEDGES THAT SELLER ONLY RECENTLY ACQUIRED
      THE
      PREMISES BY DEED IN LIEU OF FORECLOSURE AND THEREFORE SELLER IS BOTH UNWILLING
      AND UNABLE TO MAKE ANY MORE REPRESENTATIONS OR WARRANTIES CONCERNING THE
      PREMISES THAN THE ONES SET FORTH IN THIS CONTRACT OF SALE AND THOSE CONTAINED
      IN
      THE CLOSING DOCUMENTS TO BE DELIVERED PURSUANT TO SECTION 13 HEREOF. IT IS
      UNDERSTOOD THAT THE PREMISES AND ALL IMPROVEMENTS AND FIXTURES SHALL BE
      DELIVERED "AS
      IS",
      “WHERE
      IS”
IN
      THEIR PRESENT CONDITION AND WITH ALL FAULTS, SUBJECT TO REASONABLE WEAR AND
      TEAR
      AND DETERIORATION BETWEEN NOW AND THE CLOSING DATE. SELLER SHALL NOT BE LIABLE
      FOR ANY LATENT OR PATENT DEFECTS IN THE PREMISES. PURCHASER ACKNOWLEDGES THAT,
      EXCEPT AS HEREIN SPECIFICALLY SET FORTH, NEITHER SELLER NOR ANY OF ITS
      REPRESENTATIVES, EMPLOYEES, MEMBERS, OFFICERS, DIRECTORS, SHAREHOLDERS,
      TRUSTEES, MEMBERS, PARTNERS, COUNSEL OR AGENTS HAS MADE OR WILL IN THE FUTURE
      MAKE ANY DISCLOSURES, REPRESENTATIONS OR WARRANTIES AS TO THE PHYSICAL
      CONDITION, STATE OF REPAIR, TENANCY, INCOME, EXPENSES OR OPERATION OF THE
      PREMISES. EXCEPTING ONLY THOSE REPRESENTATIONS (IF ANY) SPECIFICALLY SET FORTH
      IN THIS CONTRACT OF SALE, PURCHASER ACKNOWLEDGES THAT IT HAS NOT RELIED ON
      ANY
      REPRESENTATIONS, WARRANTIES OR OTHER STATEMENTS WHETHER ORAL OR WRITTEN IN
      ITS
      DECISION TO ACQUIRE THE PREMISES IN ACCORDANCE WITH THE TERMS HEREOF.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

       

    

    IN
      PARTICULAR, EXCEPT AS HEREIN SPECIFICALLY SET FORTH, SELLER HAS NOT MADE (AND
      IS
      UNWILLING TO MAKE) ANY DISCLOSURES, REPRESENTATIONS OR WARRANTIES IN RESPECT
      OF
      (I) THE PHYSICAL CONDITION OF THE PREMISES (INCLUDING, WITHOUT LIMITATION,
      IN
      RESPECT OF THE PRESENCE, NON-PRESENCE OR CONDITION OF HAZARDOUS MATERIALS
      (HEREAFTER DEFINED), (II) THE COMPLIANCE OR NON-COMPLIANCE OF THE PREMISES
      WITH
      ANY PLANS OR SPECIFICATIONS OR WITH APPLICABLE LAWS (INCLUDING, WITHOUT
      LIMITATION, THOSE RELATING TO THE PROTECTION OF THE ENVIRONMENT OR THE HEALTH,
      SAFETY, ACCESSIBILITY OR WELFARE OF EMPLOYEES, WORKERS OR GUESTS TO THE PREMISES
      (INCLUDING BUT NOT LIMITED TO THE OCCUPATIONAL SAFETY AND HEALTH ACT, AS
      AMENDED, AND THE AMERICAN WITH DISABILITIES ACT, AS AMENDED)), (III) THE
      REVENUES, INCOME OR EXPENSES OF THE PREMISES, (IV) THE ADEQUACY OR INADEQUACY
      OF
      THE UTILITIES, IF ANY, PROVIDED TO THE PREMISES, (V) THE ZONING OF THE PREMISES
      OR (VI) ANY OTHER MATTER WHATSOEVER AND WHETHER OR NOT CONCERNING THE PREMISES.
      PURCHASER ACKNOWLEDGES THE FOREGOING AND WARRANTS AND REPRESENTS THAT IT (OR
      ITS
      PRINCIPAL OFFICER IF PURCHASER SHALL BE AN ENTITY) HAS HAD SUFFICIENT TIME
      AND
      OPPORTUNITY (OR THAT THIS CONTRACT OF SALE PROVIDES FOR SUFFICIENT TIME AND
      OPPORTUNITY) TO INSPECT THE PREMISES AND OTHER MATTERS DEEMED IMPORTANT TO
      PURCHASER, THAT IT (OR ITS PRINCIPAL OFFICER IF PURCHASER SHALL BE AN ENTITY)
      IS
      EXPERIENCED IN OWNING REAL PROPERTY SIMILAR TO THE PREMISES AND THAT IT IS
      REPRESENTED BY ADVISORS AND COUNSEL OF ITS CHOOSING.

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

       

    

    For
      purposes hereof, “Hazardous Wastes” shall mean and refer to explosives,
      radioactive materials, asbestos, asbestos-containing materials, polychlorinated
      biphenyls, lead, lead-based paint, radon, under and/or above ground storage
      tanks, hazardous materials, toxic substances, hazardous wastes, hazardous
      substances, mold, petroleum, petroleum based materials or any other materials
      or
      substances which are listed or regulated in the Comprehensive Environmental
      Response, Compensation and Liability Act of 1980, as amended (42 U.S.C. Sections
      6901, et seq.),
      the
      Resources Conservation and Recovery Act of 1976 (42 U.S.C. Section 6901,
et seq.),
      the
      Clean Water Act (33 U.S.C. Section 1251, et seq.),
      the
      Safe Drinking Water Act (14 U.S.C. Section 1401, et seq.),
      the
      Hazardous Materials Transportation Act (49 U.S.C. Section 1801, et seq.),
      the
      Toxic Substance Control Act (15 U.S.C. Section 2601, et seq.),
      or any
      other applicable federal, state or local laws.

     

    

    B. As
      of the
      expiration of the Due Diligence Period, Purchaser will have, or will have had
      ample opportunities to have: 

     

    (i) Examined
      and inspected the Premises and will know and be satisfied with the physical
      condition, quality, quantity and state of repair of the Premises in all
      respects, and by proceeding with this transaction following the expiration
      of
      the Due Diligence Period will be deemed to have determined that the same is
      satisfactory to Purchaser in all respects; 

     

    (ii) Reviewed
      the Lease(s) and all other premises information and all other instruments,
      records and documents which Purchaser deems appropriate or advisable to review
      in connection with this transaction, and Purchaser, by proceeding with this
      transaction following the expiration of the Due Diligence Period, will be deemed
      to have determined that the same and the information and data contained therein
      and evidenced thereby are satisfactory to Purchaser in all
      respects;

     

    (iii) Reviewed
      all applicable laws, ordinances, rules and governmental regulations (including,
      but not limited to, those relating to building, zoning and land use) affecting
      the development, use, occupancy or enjoyment of the Premises and the conformance
      and non-conformance of the Premises with same, and Purchaser, by proceeding
      with
      this transaction following the expiration of the Due Diligence Period, will
      be
      deemed to have determined that the same are satisfactory to
      Purchaser;

     

    (iv) Investigated,
      examined and approved the presence or absence of Hazardous Materials, in, on
      or
      under the Premises, which investigations, examinations or audits shall be
      performed or arranged by Purchaser, at Purchaser’s sole expense, prior to the
      end of the Due Diligence Period;

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

       

    

    (v) Investigated,
      examined and approved the quality, nature, adequacy and physical condition
      and
      aspects of the Premises, including, but not limited to, the structural elements,
      foundation, roof, appurtenances, access, landscaping, parking facilities and
      the
      electrical, mechanical, HVAC, plumbing, sewage, and utility systems, facilities
      and appliances, the square footage within the improvements on the
      Premises;

     

    (vi) Investigated,
      examined and approved the quality, nature, adequacy, and physical condition
      of
      soils, geology and any groundwater;

     

    (vii) Investigated,
      examined and approved the existence, quality, nature, adequacy and physical
      condition of utilities serving the Premises;

     

    (viii) Investigated,
      examined and approved the zoning or other legal status of the Premises or any
      other public or private restrictions on use of the Premises; and

     

    (ix) Investigated,
      examined and approved the compliance and non-compliance of the Premises or
      its
      operation with any applicable codes, laws, regulations, statutes, ordinances,
      covenants, conditions and restrictions of any governmental or quasi-governmental
      entity or of any other person or entity.

     

    C. By
      closing this transaction without further documentation, Purchaser, on behalf
      if
      itself and all of its officers, directors, members, managers, trustees,
      beneficiaries, shareholders, employees, representatives, successors and assigns,
      and their affiliates (collectively, the “Releasors”), will automatically be
      deemed to have waived and relinquished any and all claims, rights and remedies
      Releasors may now or hereafter have against Seller, its successors, assigns,
      officers, directors, members, managers, trustees, beneficiates, shareholders,
      employees, representatives, and their respective successors, assigns and
      affiliates (the “Seller Parties”), whether known or unknown, which may arise
      from or be related to this Contract of Sale or in any manner related to the
      Premises (including without limitation any past, present or future presence
      or
      existence of Hazardous Materials on, under or about the Premises, any past
      present or future violation of any rules, regulations or laws, now or hereafter
      enacted relating to the Premises, the physical or structural condition of the
      Premises, the financial performance of the Premises or any other matter or
      claim
      in any manner related to this Contract of Sale or the Premises); provided,
      however, that the release contained herein shall not be deemed to void the
      effect of any representations or warranties of Seller specifically contained
      in
      this Contract of Sale which representations or warranties by their terms are
      specifically set forth to survive Closing, or to release Seller Parties from
      any
      liabilities they may have under the closing documents delivered under Section
      13
      of this Contract. This section shall survive the Closing and the recordation
      of
      the deed and will not be deemed merged into the deed upon its recordation.
      If
      requested by Seller, Purchaser agrees to execute a separate release and waiver
      at the Closing confirming and acknowledging the foregoing.

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

       

    

    D. Purchaser
      acknowledges that Seller may have  information concerning the
      condition of the property, including information about its environmental
      and/or structural condition including possibly prior environmental or structural
      inspection reports. Purchaser also specifically acknowledges
      that Seller is under no obligation or duty to disclose such
      information to Purchaser, other than as specifically agreed to herein, and
      that Purchaser is not entitled to and does not expect any such
      disclosure other than as specifically agreed to herein. Purchaser acknowledges
      that Seller does not wish to expose itself to any potential claims (including
      without limitation that any such information (including without limitation
      environmental and building condition reports) is in any manner deficient or
      that
      the information disclosed is not all of the relevant information that Seller
      may
      have on the matter) and Purchaser agrees that it has or will be having its
      own
      environmental and structural reports commissioned by licensed and insured
      consultants chosen by Purchaser and that Purchaser will be relying solely on
      those reports in making any assessments or conclusions as to the environmental
      and/or physical condition of the Premises. Purchaser agrees that Seller shall
      have no obligation to provide any information regarding the environmental or
      physical condition of the Premises but in the event that Seller should provide
      any such information (notwithstanding that Seller has no obligation to do so),
      Purchaser acknowledges that any such information may not be all such information
      available to Seller on any particular topic. Purchaser hereby waives any claim
      against Seller and the Seller Parties related to any such information, except
      for any claims arising out of the breach of any representations and warranties
      specifically set forth herein (including without limitations claims that such
      information is wrong, is inaccurate, is incomplete or that Seller knew or should
      have known that such information is wrong, is inaccurate and/or is incomplete).
      

     

    E. [INTENTIONALLY
      DELETED]

    

    F. This
      Section shall survive the Closing or earlier termination of this Contract of
      Sale.

    

    4. Seller
      Representations.
      A.
      Seller warrants and represents that attached hereto as Exhibit B is a copy
      of a
      rent roll for the Premises which is materially true and correct as of the date
      thereon. Seller represents and warrants that it will make available to Purchaser
      during the Due Diligence Period, copies or originals of all lease files in
      its
      possession or in possession of the management company. However, since Seller
      has
      only recently acquired the Premises by deed-in-lieu of foreclosure Seller makes
      no representations or warranties that the lease files it possesses are complete
      or accurate. Seller represents and warrants that it has no knowledge of any
      leases other than as disclosed to Purchaser on Exhibit
      B,
      and
      that there are no written or oral agreements with tenants, to its knowledge,
      other than as disclosed on Exhibit
      B.

    

    B.
       Except
      as
      may be listed on Exhibit C attached hereto, Seller warrants and represents
      that
      to its knowledge no tenant at the Premises is in monetary default.

    

    
      
         

      

      
        6

        
          

        

      

      
         

      

       

    

    C. Seller
      warrants and represents that Seller has not nor will it in the future collect
      rent more than thirty (30) days in advance, nor does it have any knowledge
      that
      there are rents that have been prepaid more than thirty (30) days in advance
      except as may be specifically listed on Exhibit
      B
      and
      identified as prepaid rents.

    

    D. Seller
      warrants and represents that it has no knowledge that there are any service
      contracts pending in respect of the Premises that are not terminable on thirty
      (30) days or less notice, except those which Seller will disclose to Purchaser
      during the Due Diligence Period.

    

    E. Seller
      warrants and represents that there are no employees at the Premises who
      Purchaser would be responsible for following Closing.

    

    F. As
      of the
      date hereof, Seller warrants and represents that it has no knowledge of any
      pending or contemplated condemnation proceedings affecting the Premises or
      any
      part thereof.

    

    G. Seller
      warrants and represents that it has not received, nor to its knowledge have
      there been issued, any notices of non-compliance of the Premises or its
      operation with any applicable codes, laws, regulations, statutes, ordinances,
      covenants, conditions or restrictions of any governmental or quasi-governmental
      entity or of any other person or entity, which have not been fully and duly
      complied with.

    

    H. Seller
      warrants and represents that, to the best of its knowledge, any and all state,
      federal, and municipal payroll taxes, including, but not limited to,
      unemployment taxes, due for employees of the Property have been properly paid
      and will continue to be properly paid prior to Closing.

    

    I. The
      warranties and representations contained in this Section 4 shall survive the
      Closing for a period of six (6) months.

    

    5. Title.
      A.
      Purchaser agrees to promptly order a commitment for title insurance from Escrow
      Agent.
      Seller
      agrees to promptly furnish to Purchaser an updated ALTA survey of the Premises.
      Purchaser shall have until the end of the Due Diligence Period to notify Seller
      in writing of any objections it may have to said title commitment or survey,
      otherwise Purchaser shall be deemed to have waived any objections it may have
      to
      Seller's title to the Premises and shall be required to close on its acquisition
      of the Premises without offset or abatement. Purchaser agrees to take title
      if
      insurable by Escrow Agent at standard premiums and subject only to the Permitted
      Exceptions (hereafter defined). If Purchaser shall timely notify Seller of
      a
      defect in Seller's title or survey, Seller shall notify Purchaser within ten
      (10) days after receipt of such notice whether Seller will attempt to cure
      such
      defects. If Seller elects to cure such defects, then Seller shall be entitled,
      at its option, to extensions of the Closing Date (hereafter defined) for up
      to
      thirty (30) days in the aggregate to attempt to cure such defect(s). If Seller
      shall have elected to attempt to cure such defects and should Seller not cure
      such defect(s) regardless of the reason within ten (10) days prior to the
      Closing Date, or if Seller elects not to cure such defects, then Purchaser
      shall
      have the option to close on its purchase of the Premises in accordance with
      the
      terms hereof, with no abatement or offset, or to terminate this Contract, in
      which event the Downpayment, together with interest thereon, shall be returned
      to Purchaser and the parties shall have no other liability to each other.
      Purchaser shall have three (3) days following its receipt of an update title
      commitment (but in no event later than the Closing Date) to notify Seller of
      any
      new title defects raised thereby which did not exist at the time of the issuance
      of the initial title commitment or survey and the provisions above of this
      Paragraph shall apply in respect of such new title defects.

    

    
      
         

      

      
        7

        
          

        

      

      
         

      

       

    

    B.
      The
      Premises are sold subject to the following (collectively, the "Permitted
      Exceptions"):

    

    (1) any
      matters of record (other than liens or judgments for the payment of money)
      which
      do not adversely affect the marketability or insurability of title;

    

    (2) current
      city, state and county ad valorem taxes not yet due and payable;

    

    (3) easements
      and rights-of-way for the installation or maintenance of public utilities,
      streets and sidewalks, such do not interfere with the operation of the
      Premises;

    

    (4) the
      rights of tenants, as tenants only, under the apartment leases; and

    

    (5) such
      other matters, if any, as are not objected to by Purchaser as provided in A
      above or which are accepted by Purchaser.

    

    Notwithstanding
      anything in this agreement to the contrary, under no circumstances shall any
      liens or mortgages or deeds of trust, mechanic’s liens, attachments, liens to
      secure the payment of income taxes of Seller or Seller’s constituents, or
      delinquent property taxes against the Property be considered to be Permitted
      Exceptions and Purchaser’s failure to object to same shall not be deemed to be a
      waiver by Purchaser.

    

    C. Purchaser
      agrees to accept a limited warranty deed (or the local equivalent), in form
      satisfactory for recording, for the sale of the Premises.

    

    6. Acceptance
      of Deed.
      The
      acceptance of the deed by Purchaser shall constitute and be deemed and
      considered full compliance by Seller of all the terms and conditions of this
      Contract of Sale on the part of Seller to be performed. It is further expressly
      agreed that none of the provisions of this Contract of Sale shall survive the
      delivery and acceptance of the deed, except insofar as may herein otherwise
      be
      expressly and specifically provided.

    

    7. Inspections.
      A. At
      Purchaser's cost and expense, Purchaser and its advisors shall be permitted
      to
      inspect the Premises for structural integrity, compliance with applicable laws,
      to perform an environmental audit of the Premises, to review the historical
      and
      projected financial information relative to the operations of the Premises
      and
      any such other matters as Purchaser shall deem significant (the "Inspections").
      Purchaser agrees to indemnify and hold harmless Seller from any damage to person
      or property that may be caused by the Inspections. Purchaser shall not do any
      invasive testing (i.e. conducting borings) without the prior written consent
      of
      Seller, which consent shall not be unreasonably withheld.

    

    
      
         

      

      
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    B.
       Purchaser
      shall have until 5:00 p.m., CDT on the date which is 45 days after the Effective
      Date (as hereinafter defined) (the “Due Diligence Period”) in which to conduct
      the Inspections and to conduct all such other investigations of the Premises
      as
      Purchaser desires necessary to determine whether the Premises is suitable and
      satisfactory to Purchaser. Purchaser may, in Purchaser’s sole discretion and for
      any reason, terminate this Contract at any time prior to the end of the Due
      Diligence Period by giving written notice to Seller of such election. In the
      event Purchaser so terminates this Contract then the Downpayment shall be
      immediately returned to Purchaser, except for the sum of $100 which shall be
      retained by Seller as full consideration for the execution of this Contract
      and
      the parties shall have no liability to each other. 

    

    C. Seller
      agrees to cooperate, and to cause its property manager to cooperate, with
      Purchaser in connection with the Inspections referenced above and to provide
      access to the Premises in connection therewith (subject to the provisions of
      applicable leases). 

     

    8. No
      Financing Contingency.
      It is
      expressly understood and agreed that the obligations of Purchaser hereunder
      are
      NOT contingent on Purchaser being able to secure financing for all or any
      portion of the purchase price.

    

    9. Authorization
      of Purchaser and Seller.
      A.
      Purchaser warrants and represents that it was duly organized and is in good
      standing in its jurisdiction of organization and that it is in good standing
      in
      the State in which the Premises is located. Purchaser warrants and represents
      that it has the authority to enter into this Contract of Sale and agrees to
      supply to Seller such information as Seller may require (such as its certificate
      of incorporation, by-laws and resolutions adopted by its board of directors)
      to
      establish to Seller's reasonable satisfaction the accuracy of the warranties
      and
      representations contained in this paragraph. Purchaser represents that its
      signatory is fully authorized to execute and deliver this Contract of Sale
      on
      its behalf.

    

    B.
      Seller
      warrants and represents that it was duly organized and is in good standing
      in
      its jurisdiction of organization and that it is in good standing in the State
      in
      which the Premises is located. Seller warrants and represents that it has the
      authority to enter into this Contract of Sale and agrees to supply to Purchaser
      such information as Purchaser may require (such as its articles of organization,
      operating agreement and resolutions adopted by its members) to establish to
      Purchaser's reasonable satisfaction the accuracy of the warranties and
      representations contained in this paragraph. Seller represents that its
      signatory is fully authorized to execute and deliver this Contract of Sale
      on
      its behalf.

    

    
      
         

      

      
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    10. Included
      Premises.
      This
      sale includes all the right, title and interest of Seller in and to all
      easements, rights of way, privileges, transferrable permits, records, reports,
      transferrable licenses, appurtenances and rights to the same belonging to and
      inuring to the benefit of the Premises, supplies, fixtures and articles of
      personal property (including, but not limited to, machinery, computers, drills
      and other tools, snow removal equipment, landscaping equipment, and all other
      personal property located in apartments at the Premises including without
      limitation (as applicable) air conditioners, dishwashers, refrigerators and
      stoves) attached to or appurtenant to the Premises or used in connection with
      the operation of the Premises and owned by Seller. This sale also includes
      all
      the right, title and interest of Seller in and to any intangible property
      associated with the Premises, including, without limitation, building and trade
      names and all of Seller’s interest in and to any oral or written lease, covering
      any portion of the Premises.

    

    11. Closing
      Costs.
      A.
      Purchaser shall pay for all of its costs of closing including its own attorney
      fees and Purchaser shall pay for the transfer taxes, stamps and recording fees
      and costs (and similar items) in respect of the sale. Seller shall pay for
      all
      of its costs of closing including its own attorney fees and Seller shall pay
      for
      the cost of Purchaser’s standard title insurance premiums and for the cost of an
      updated survey certified in favor of Purchaser. The parties shall split the
      costs, if any, of Escrow Agent for serving as escrow and closing agent for
      this
      transaction. 

    

    B. Real
      property taxes, rents, wages, utilities, water/sewer charges and other operating
      expenses shall be adjusted as of the day before the Closing Date. For delinquent
      rent not adjusted pursuant to the previous sentence and received after the
      Closing Date, Purchaser shall be entitled to credit first the month during
      which
      the rent is received and then shall apply the balance, if any, to unpaid rent
      for the immediately preceding month(s) and agrees to send to Seller its prorata
      share, if any, of such rent. Purchaser agrees to use its good faith efforts
      to
      attempt to collect such delinquencies and Seller shall retain its contract
      rights as against the delinquent tenants for such delinquent rent, but Seller
      shall have no right to terminate any lease. If the actual taxes or other charges
      shall not have been set by the Closing Date, the apportionment shall be upon
      the
      basis of the tax rate (or other charge) for the previous year applied to the
      latest assessed valuation and such taxes shall be reprorated once the final
      tax
      bills for the year of Closing are available. Seller shall be responsible to
      pay
      the installments of any special assessments that are due and payable through
      the
      Closing Date and the Purchaser shall be responsible for the installments for
      the
      periods following the Closing Date. 

    

    12. Closing
      Date.
      A. The
      parties agree that the closing (the "Closing") shall occur on or before thirty
      (30) days following the expiration of the Due Diligence Period (the "Closing
      Date"). The Closing shall take place in escrow through the offices of Escrow
      Agent.

    

    B.
      Notwithstanding anything contained in this Contract of Sale to the contrary
      it
      is understood and agreed that in the event of any default on the part of
      Purchaser, Seller agrees to look solely to the Downpayment in accordance with
      the terms hereof as its liquidated damages and waives any claim for specific
      performance or any other claim either against the Purchaser or against any
      person disclosed or undisclosed. In the event Seller shall default hereunder
      (or
      in the event of any claim of Purchaser against Seller related to this Contract
      of Sale or the Premises other than a breach of any representations, warranties
      or agreement which should survive the Closing), except as specifically set
      forth
      herein, Purchaser's sole right shall be to either recover its Downpayment with
      interest thereon or to seek specific performance of this Contract of Sale,
      with
      it being understood that Seller shall in no event be liable for consequential
      or
      other monetary damages in respect of this Contract of Sale, the Premises or
      the
      transaction contemplated hereby. Seller and Purchaser acknowledge that the
      amount of damages of Seller occasioned by a default of Purchaser hereunder
      would
      be difficult or impossible to accurately predict and Seller and Purchaser,
      after
      consultation with counsel of their own choosing, agree that the liquidated
      damages provided for in this paragraph are reasonable sums to be used as
      liquidated damages. In connection with any obligations which are specifically
      agreed herein to survive the Closing, a party may be entitled to monetary
      damages from the other, but shall not be entitled to any special or
      consequential damages.

    

    
      
         

      

      
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    13. Closing
      Documents.
      A.
      Seller agrees to execute and deliver to Purchaser on the Closing Date all
      documents, in form reasonably satisfactory to Purchaser, necessary to effectuate
      the provisions hereof including, without limitation:

    

    a.
      The
      deed.

    

    b.
      An
      assignment and assumption of leases, together with appropriate indemnifications,
      together with an assignment of the security deposits, if any, held in respect
      of
      the leases as listed on the then rent roll.

    

    c.
      A
      notice of sale to the tenants, if any, of the Premises directing the tenants
      to
      make all further rent payments to Purchaser as Purchaser may
      direct.

    

    d.
      The
      original lease and property files and keys in Seller's possession.

    

    e.
      An
      affidavit pursuant to Section 1445 of the Internal Revenue Code, as
      amended.

    

    f.
      A bill
      of sale covering all personal property and intangible property referred to
      in
      Section 10 hereof.

    

    g.
      Such
      other documents that shall reasonably be required to consummate the transactions
      herein contemplated, including an Owner’s Affidavit in such form as may be
      required by the title company in order to allow them to remove the related
      standard exceptions from the title policy.

    

    
      
         

      

      
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    B. Purchaser
      agrees to execute and deliver to Seller on the Closing Date all documents,
      in
      form reasonably satisfactory to Seller, necessary to effectuate the provisions
      hereof including, without limitation:

    

    a.
      The
      balance of the cash portion of the purchase price referred to
      hereinabove.

    

    b.
      The
      assignment and assumption of the leases, together with appropriate
      indemnifications.

    

    c.
      Such
      other documents that shall reasonably be required to consummate the transactions
      herein contemplated.

    

    14.
      Pre-Closing
      Obligations of Seller.
      Between
      the date hereof and the Closing Date, Seller shall:

    

    a.
      Keep
      the Premises and all parts thereof in the same state of repair and condition
      as
      they are currently in (including making ordinary repairs and replacements)
      reasonable wear and tear excepted; provided that nothing in this Contract shall
      require Seller to expend more than $10,000.00 in the aggregate on repairs and/or
      replacements to the Premises. Seller shall promptly notify Purchaser of any
      repairs or replacements which exceed the $10,000 limitation as set forth above,
      and which Seller does not intend to complete; Purchaser shall then have 10
      days
      from such notification within which to terminate this Contract if it so chooses
      and receive an immediate refund of the Downpayment.

    

    b.
      Not
      apply all or any part of the security deposit of any tenant, to the extent
      Seller shall have any, unless such tenant's lease has terminated and such tenant
      has vacated the Premises.

    

    c.
      Not
      withdraw, settle or compromise any reduction proceeding affecting real estate
      taxes assessed against the Premises without the prior consent of Purchaser
      which
      consent shall not be unreasonably withheld or delayed. Any future refunds and
      fees of counsel shall be prorated between Purchaser and Seller as of the Closing
      Date. This Paragraph 14(c) shall survive the Closing and the delivery of the
      deed.

    

    d.
      Not
      remove from the Premises any fixture, equipment or personal property included
      in
      this sale unless the same is replaced with items of at least equal value prior
      to the Closing Date.

    

    e.
      Subject to the leases for the Premises, permit Purchaser or its representatives
      access to the Premises upon reasonable prior notice and at reasonable
      times.

    

    
      
         

      

      
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    f.
      Seller
      will not alter, amend or modify the terms and provisions of any leases, or,
      enter into new tenant leases with a term in excess of twelve (12) months, or
      at
      rental rates below those set forth in the rent roll, without the prior written
      approval of Purchaser.

    

    g.
      Seller
      will not grant or purport to create to any third party any interest in the
      Premises or any part thereof or further encumber the Premises without the prior
      written approval of the Purchaser.

    

    h.
      Seller
      will not enter into any maintenance, management or other service contracts
      without the prior written approval of Purchaser.

    

    i.
      Seller
      will cause fire and extended coverage insurance relating to the Premises to
      be
      maintained in full force and effect at an amount no less than the full
      replacement cost of the Premises.

    

    j.
      Seller
      will promptly notify Purchaser in writing of any violation, alleged violation
      or
      anticipated violation, or any law, regulation, ordinance, order or other
      requirement of any governmental authority having jurisdiction over or affecting
      the Premises, or any part thereof, of which it is notified.

    

    k.
      Seller
      will not, without the prior written consent of Purchaser, permit any structural
      modifications or additions to the Premises.

    

    l.
      Seller
      shall not execute an assignment of any of the tenant leases or an assignment
      of
      any rent accruing under a tenant lease.

    

    m.
      Seller
      shall continue to maintain, operate and manage the Premises in the same manner
      that Seller has heretofore maintained and operated the Premises, and shall
      use
      good faith efforts to preserve for Purchaser the relationships of Seller and
      tenants.

    

    15. Condemnation.
      A. As
      of the date hereof, Seller has no knowledge of any pending or contemplated
      condemnation proceedings affecting the Premises or any part
      thereof.

    

    B.
      If
      prior to the Closing, all of the Premises shall be taken by condemnation,
      eminent domain or deed in lieu thereof, this Contract of Sale shall be
      automatically terminated, the Downpayment together with any interest thereon
      shall be returned to Purchaser and thereupon neither party shall have any
      further liability or obligation to the other. If prior to the Closing Date,
      a
      portion, but less than all, of the Premises shall be taken by condemnation,
      eminent domain or deed in lieu thereof, which shall have a material, adverse
      financial impact on the value or use of the Premises then Purchaser may, at
      Purchaser’s option, terminate this Contract of Sale by sending written notice
      thereof to Seller within thirty (30) days of such condemnation or other taking,
      in which event the Downpayment and the interest thereon shall be returned to
      Purchaser and thereupon neither party shall have any further liability or
      obligations to the other. If this Contract of Sale is not terminated as provided
      above Purchaser shall (a) accept title to the Premises subject to the
      condemnation or other taking, and (b) pay in full the purchase price and on
      the
      Closing Date the net proceeds of the award or payment (after payment of all
      actual collection costs) shall be assigned by Seller to Purchaser and net monies
      theretofore received by Seller in connection with such condemnation or other
      taking shall be paid over to Purchaser or allowed as a credit against the
      purchase price hereunder (unless previously used by Seller in connection with
      the repair of the Premises in connection therewith). This Paragraph shall govern
      to the extent inconsistent with any applicable law.

    

    
      
         

      

      
        13

        
          

        

      

      
         

      

       

    

    16. Casualty.
      The
      risk of loss or damage or destruction to the Premises by fire or other casualty
      is assumed by Seller until the Closing, but, except as specifically set forth
      in
      this Paragraph, Seller shall not be obligated to repair or replace any such
      loss
      or damage. In the event of fire or other casualty, Seller shall have thirty
      (30)
      days to notify Purchaser whether it intends to rebuild the Premises, but if
      Seller shall fail to notify Purchaser of its election within such thirty (30)
      day period Seller shall be deemed to have elected not to rebuild. If Seller
      elects (or is deemed to have elected) not to repair or replace any such loss
      or
      damage to the Premises then Purchaser shall have the option of declaring this
      Contract of Sale terminated within thirty (30) days of Seller's election not
      to
      rebuild, in which event Seller or Purchaser shall instruct Escrow Agent to
      refund to Purchaser, with the interest earned thereon, the Downpayment whereupon
      this Contract of Sale and all rights of Purchaser hereunder and to the Premises
      shall terminate and neither Seller nor Purchaser shall have any further claim
      against the other; provided that if neither party shall have elected to
      terminate this Contract as aforesaid then Purchaser shall close title in
      accordance with this Contract and pay in full the Purchase Price, without any
      abatement thereof or claim against Seller for such loss or damage, and accepting
      an assignment, without recourse, of Seller's rights, if any, to any payments
      to
      be made under any applicable hazard insurance policies, if any, together with
      any payments under such policies made to Seller prior to the Closing not
      expended to repair or replace such loss, damage or destruction and Seller shall
      credit to Purchaser the amount of any insurance deductible. If Seller elects
      to
      repair or replace any such loss or damage, Seller shall be entitled to
      reasonable adjournments of the Closing Date in which to perform the work, not
      exceeding one hundred twenty (120) days in the aggregate. If Seller elects
      to
      repair or replace any such loss or damage to the Premises and if such loss
      or
      damage is not repaired (substantial completion thereof) prior to the Closing
      Date, as adjourned by Seller pursuant to this Paragraph, Purchaser shall have
      the option of: (a) declaring this Contract of Sale terminated, in which event
      Seller or Purchaser shall instruct Escrow Agent to refund to Purchaser, with
      the
      interest earned thereon, the Downpayment whereupon this Contract of Sale and
      all
      rights of Purchaser hereunder and to the Premises shall terminate and neither
      Seller nor Purchaser shall have any further claim against the other or (b)
      closing title in accordance with this Contract of Sale and paying in full the
      Purchase Price, without any abatement thereof or claim against Seller for such
      loss or damage, and accepting an assignment, without recourse, of Seller's
      rights, if any, to any payments to be made under any applicable hazard insurance
      policies for work not yet completed, together with any payments under such
      policies made to Seller prior to the Closing not expended to repair or replace
      such loss, damage or destruction; provided that if Purchaser shall have failed
      to timely make an election it shall be deemed to have chosen (b) above.
      Notwithstanding the foregoing, if the cost of the repairs and replacements
      is
      less than $25,000, as determined by an independent third party professional
      chosen by Seller and acting reasonably, Purchaser shall close title with a
      credit against the purchase price in such amount which shall not exceed $25,000
      and Seller shall retain the rights to the insurance proceeds, if any, in respect
      of such casualty. This Paragraph shall govern to the extent inconsistent with
      any applicable law.

    

    
      
         

      

      
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    17. Assignment.
      Purchaser will not, without the prior written consent of Seller (which consent
      may be withheld in Seller's absolute discretion), sell, assign or transfer
      its
      interest in this Contract of Sale. The sale of more than a 25% interest in
      Purchaser (if Purchaser shall be other than a natural person) shall be deemed
      an
      assignment requiring the consent of Seller as set forth in the preceding
      sentence. Notwithstanding the foregoing, Purchaser shall be permitted to assign
      this Contract to a corporation, partnership or other entity which is
      beneficially owned in whole or in part by William H. Freeman, James A. Webb,
      III
      and/or Kent A. Burns. Any purported assignment of this Contract of Sale in
      violation of this Paragraph 17 shall be ineffective and void ab
      initio.

    

    18. Brokers.
      Purchaser and Seller each represents and warrants that, except for CB Richard
      Ellis, Inc. (“Broker"): (i) it has not dealt with any broker in respect of the
      sale of the Premises to Purchaser and (ii) no broker brought the Premises to
      the
      attention of the Purchaser or was otherwise involved in the Purchaser's interest
      in the Premises. Seller agrees to compensate Broker as per a separate agreement.
      Each party shall indemnify, defend and hold harmless the other for any claims
      which would constitute a breach of the foregoing representations and warranties.
      The provisions of this Paragraph shall survive the Closing and the delivery
      of
      the deed or the other termination of this Contract of Sale.

    

    19. -Section
      1031 Tax Deferred Exchange.
      At the
      option of either Seller or Purchaser, each party agrees to cooperate with the
      other to qualify this transaction as a like-kind exchange of property described
      in Section 1031 of the Internal Revenue Code of 1986, as amended. Seller and
      Purchaser further agree to consent to the assignment of this Contract of Sale
      to
      a "Qualified Intermediary" and/or take such other action reasonably necessary
      to
      qualify this transaction as a like-kind exchange provided that (i) such exchange
      shall be at the cost and expense of the requesting party, (ii) the other party
      shall incur no liability as a result of such exchange and (iii) no such
      assignment of this Contract of Sale shall relieve the requesting party of its
      obligations under this Contract of Sale and the requesting party shall remain
      liable for the performance of its obligations hereunder including, without
      limitation, the representations, warranties, and covenants given by it under
      this Contract of Sale.

    

    20. OFAC
      Matters.
      Each of
      Seller and Purchaser represent, warrant and agree as follows as applicable
      to
      each of them:

     

    A.
      Seller
      and Purchaser, and all direct or to their knowledge indirect beneficial owners
      of Seller and Purchaser, are in compliance with all laws, statutes, orders,
      legislation, rules and regulations of any federal, state or local governmental
      authority in the United States of America applicable to such Persons (as
      hereinafter defined), including, without limitation, the requirements of
      Executive Order No. 13224, 66 Fed. Reg. 49079 (Sept. 25, 2001) (the “Order”) and
      other similar requirements contained in the rules and regulations of the Office
      of Foreign Asset Control, Department of the Treasury (“OFAC”) and in any
      enabling legislation or other Executive Orders in respect thereof (the Order
      and
      such other laws, statutes, rules, regulations, legislation, or orders are
      collectively called the “Orders”). For purposes of this subsection, “Person”
shall mean any corporation, partnership, limited liability company, joint
      venture, individual, trust, real estate investment trust, banking association,
      federal or state savings and loan institution and any other legal entity,
      whether or not a party hereto; and

     

    
      
         

      

      
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    B. Neither
      Seller nor Purchaser nor any of the direct or to their knowledge indirect
      beneficial owners of Seller nor Purchaser:

     

    1. is
      listed
      on the Specially Designated Nationals and Blocked Persons List maintained by
      OFAC pursuant to the Order and/or on any other list of terrorists or terrorist
      organizations maintained pursuant to any of the rules and regulations of OFAC
      or
      pursuant to any other applicable Orders (such lists are collectively referred
      to
      as the “Lists”);

     

    2. has
      been
      determined by competent authority to be subject to the prohibitions contained
      in
      the Orders;

     

    3. is
      owned
      or controlled by, nor acts for or on behalf of, any Person on the Lists or
      any
      other Person who has been determined by competent authority to be subject to
      the
      prohibitions contained in the Orders;

     

    4. shall
      transfer or permit the transfer of any interest in Seller or such parties to
      any
      Person who is, or whose beneficial owners are, listed on the Lists;
      or

     

    5. shall
      assign this Contract of Sale or any interest herein, to any Person who is listed
      on the Lists or who is engaged in illegal activities (or to a Person in which
      a
      Person who is listed on the Lists or who is engaged in illegal activities has
      any beneficial interest).

     

    This
      Section 20 shall survive the Closing.

    

    21. Miscellaneous.
      A. If
      either party shall be required to employ an attorney to enforce or defend the
      rights of such party related to this transaction or the Premises, the prevailing
      party shall be entitled to recover reasonable attorneys' fees. This paragraph
      shall survive the Closing or earlier termination of this Contract of
      Sale.

    

    B.
      This
      Contract of Sale contains the complete agreement between the parties, supersedes
      all prior agreements (oral or written) and no term hereof may be waived or
      amended except by the written agreement of the party to be charged by such
      waiver or amendment. This Contract of Sale has been negotiated and shall not
      be
      construed against its drafter. The parties agree that there are no oral
      agreements, understandings, representations or warranties which are not
      expressly set forth herein.

    

    
      
         

      

      
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    C. All
      notices, demands and other communications required or permitted to be given
      hereunder shall be in writing and shall be deemed to have been properly given
      if
      delivered by hand or sent by United States registered or certified mail, return
      receipt requested, or sent by Federal Express, United Parcel Service or other
      reputable overnight delivery service, to Seller (for the attention of Jeffrey
      A.
      Gould) at its address set forth above with a copy to Mark H. Lundy, TRB
      Chattanooga LLC, 60 Cutter Mill Road, Great Neck, New York 11021 and with a
      copy
      to Marc T. McNamee, Esq., Neal and Harwell, PLC, Suite 2000, One Nashville
      Place, 150 4th Avenue North, Nashville, Tennessee 37219-2498 or at such other
      addresses as it may designate by notice hereunder and to Purchaser at its
      address set forth above (for the attention of Kent A. Burns) with a copy to
      Jack
      F. King, Jr., Esq., Miller & Marin PLLC, 150 4th Avenue North, Nashville,
      Tennessee, or at such other addresses as it may designate by notice hereunder.
      The address for Escrow Agent is 315 Deaderick Street, Suite 2055, Nashville,
      Tennessee 37238.

    

    D. The
      respective attorneys for Seller and Purchaser are authorized to give and receive
      any notices required or permitted to be sent hereunder and are permitted to
      agree on adjournments of the Closing Date.

    

    E. This
      Contract of Sale shall not be binding until executed and delivered by Seller
      and
      Purchaser. Once fully executed and delivered, this Contract of Sale shall be
      binding upon and inure to the benefit of the parties hereto and their respective
      heirs, executors, administrators, successors and permitted assigns.

    

    F. This
      Contract of Sale shall be governed by and construed in accordance with the
      laws
      of the State in which the Premises is located.

    

    G. Purchaser
      agrees to make the checks or wire payments for the Purchase Price to such
      parties as Seller shall direct.

    

    H. If
      any
      provision hereof shall be deemed unenforceable, the remaining terms of this
      Contract of Sale shall be unaffected thereby and shall remain in full force
      and
      effect.

    

    I. The
      headings herein are for reference purposes only and shall not be deemed to
      affect the interpretation of this Contract of Sale.

    

    J. SELLER
      AND PURCHASER HEREBY WAIVE ANY AND ALL RIGHTS THAT EITHER MAY HAVE TO A JURY
      TRIAL IN RESPECT OF ANY DISPUTE CONCERNING THIS CONTRACT OF SALE OR THE
      PREMISES.

    

    
      
         

      

      
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    K. Each
      of
      Seller and Purchaser expressly understands and agrees and acknowledges that
      neither party would have entered this Contract of Sale without the express
      provisions of this Subparagraph K. Notwithstanding anything to the contrary
      set
      forth in this Contract of Sale, in no event shall either party ever be liable
      to
      the other party for consequential, compensatory or any other monetary damages
      in
      respect of this Contract of Sale, the Premises or the transaction contemplated
      hereby, except in connection with any claims arising out of those obligations
      set forth herein that specifically survive Closing. In connection with any
      obligations which are specifically agreed herein to survive Closing, the parties
      agree that a party may be entitled to monetary damages from the other, but
      shall
      not be entitled to any special or consequential damages.. In addition, each
      party hereby agrees that in no event shall either party make or bring any claim
      for any matter whatsoever against any member, shareholder, partner, officer,
      director, trustee, employee, agent, representative or counsel of or for the
      other party. Each party acknowledges that it agrees to this Subparagraph K
      and
      that it has consulted with counsel of its own choosing in so agreeing. This
      Subparagraph shall survive the Closing or earlier termination of this Contract
      of Sale.

    

    L. Purchaser
      understands and agrees that it shall not be permitted to record this Contract
      or
      a memorandum hereof and any breach of this provision shall constitute a default
      by Purchaser under this Contract in which event Seller shall be entitled to
      the
      Downpayment, this Contract shall be terminated and Seller shall (notwithstanding
      any other provisions of this Contract) be entitled to such remedies as are
      available in law or equity.

    

    M. Time
      is
      of the essence in this Contract.

    

    N. For
      the
      purpose of this agreement, all references to the Effective Date shall mean
      the
latest
      date
      upon which the Seller or Purchaser executes this agreement. In the event any
      time period specified in this agreement expires on a Saturday, Sunday or banking
      holiday, then the time period so expiring shall be extended to expire on the
      next business day.

    

    

    [SIGNATURES
      ON FOLLOWING PAGE]

    
      
         

      

      
        18

        
          

        

      

      
         

      

    

    

    IN
      WITNESS WHEREOF, the undersigned have executed and delivered this Contract
      of
      Sale as of the date first hereinabove written.

    

      
        	
                Date
                  Signed: ______________________

              	
                TRB
                  CHATTANOOGA LLC, as Seller

              
	
                Tax
                  ID # ________________________

              	 
	 	 
	
                 

              	
                By:_______________________________

              
	
                 

              	
                Mark
                  H. Lundy

              
	
                 

              	
                Senior
                  Vice President of the sole member

              
	 	 
	 	 
	
                Date
                  Signed: _____________________

              	
                FREEMAN
                  WEBB INVESTMENTS, INC., as

              
	
                Tax
                  ID #________________________

              	
                Purchaser

              
	 	 
	
                 

              	
                By:_______________________________

              
	 	
                Kent
                  A. Burns

              
	 	
                President

              
	 	 
	
                 

              	
                First
                  American Title Insurance Company, solely in its capacity as Escrow
                  Agent

              
	 	 
	
                 

              	
                By:_______________________________

              
	
                 

              	
                Name:_____________________________

              
	
                 

              	
                Title:_____________________________

              

      

    

     

    
      
         

      

      
        19

        
          

        

      

      
         

      

    

    

      EXHIBIT
        A

      

      Legal
        Description

       

    

    
      
         

      

      
         

        
          

        

      

      
         

      

       

    

    EXHIBIT
      B

    

    Rent
      Roll

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
      C

    

    Delinquency
      List

    

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

     

    EXHIBIT
      D

    

    Employees

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00140-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00140-of-00352.parquet"}]]