Document:

exv10w33

 

Exhibit 10.33

SECOND AMENDMENT TO

AGREEMENT OF PURCHASE AND SALE

     This SECOND AMENDMENT TO AGREEMENT OF PURCHASE AND SALE (this “Amendment”) is executed this
14th day of December, 2005, between MOR MONTPELIER LLC, FORBES BOULEVARD LLC, and DERRY
COURT LLC (collectively, “Seller”) and ASSET CAPITAL PARTNERS, L.P. (“Purchaser”; and, collectively
with Seller, the “Parties”).

     WHEREAS, Seller and Purchaser entered into that certain Agreement of Purchase and Sale dated
November 7, 2005 (the “Original Agreement”), pursuant to which Seller agreed to Sell, and Purchaser
agreed to Purchase, the real property described therein, subject to the terms thereof.

     WHEREAS, pursuant to Section 2.2 of the Original Agreement, the Due Diligence Period (as
defined in the Original Agreement) was to expire at 5:00 p.m. eastern standard time on December 12,
2005.

     WHEREAS, pursuant to that certain First Amendment to Agreement of Purchase and Sale dated
December 12, 2005 (the “First Amendment”; and, collectively with the Original Agreement, the
“Agreement”), the Parties agreed to extend the Due Diligence Period until the date hereof at 5:00
p.m. eastern standard time.

     WHEREAS, the Parties have now mutually agreed to further extend said Due Diligence Period as
described herein. All terms not otherwise defined herein shall have the meanings set forth in the
Agreement.

     NOW, THEREFORE, the Parties hereby agree as follows:

     Extension of Due Diligence Period.

     1. Anything contained in the Agreement notwithstanding, the Due Diligence Period under Section
2.2 of the Agreement shall hereby be extended for an additional period of forty-eight (48) hours,
and thus shall be deemed to expire on Friday, December 16, 2005 at 5:00 p.m. eastern standard time.

     2. Except as expressly amended by this Amendment, the Agreement is hereby ratified and
affirmed in all respects. This Amendment may be executed by the parties hereby in counterpart.

     3. This Amendment shall be binding upon and shall inure to the benefit of the parties hereto
and their personal representatives, successors, and assigns.

     4. This Amendment shall be interpreted and construed in accordance with the laws of the State
of Maryland.

 

 

     IN WITNESS WHEREOF, the parties hereto have set their hands the day and year first written
above.

	 	 	 	 	 
	WITNESSES:

	 	SELLER:	 	 
	 
	 

	 	MOR MONTPELIER LLC	 	 
	 
	 	 	 	 
	 

	 	By: /s/ Mark Knobloch___(SEAL)	 	 
	 

	 	 	 	 
	 

	 	Mark D. Knobloch, President	 	 
	 
	 	 	 	 
	 

	 	FORBES BOULEVARD LLC	 	 
	 
	 	 	 	 
	 

	 	By: /s/ Mark Knobloch___(SEAL)	 	 
	 

	 	 	 	 
	 

	 	Mark D. Knobloch, President	 	 
	 
	 	 	 	 
	 

	 	DERRY COURT LLC	 	 
	 
	 	 	 	 
	 

	 	By: /s/ Mark Knobloch___(SEAL)	 	 
	 

	 	 	 	 
	 

	 	Mark D. Knobloch, President	 	 
	 
	 	 	 	 
	 

	 	PURCHASER:	 	 
	 
	 	 	 	 
	 

	 	ASSET CAPITAL PARTNERS, L.P.	 	 
	 
	 	 	 	 
	 

	 	By: ACC GP, LLC, its general partner	 	 
	 
	 	 	 	 
	 

	 	By: Asset Capital Corporation, Inc., its

Sole member	 	 
	 
	 	 	 	 
	 

	 	By: /s/ Blair Fernau___(SEAL)	 	 
	 

	 	Blair Fernau, Chief Investment Officerexv10w34

 

Exhibit 10.34

THIRD AMENDMENT TO

AGREEMENT OF PURCHASE AND SALE

     This THIRD AMENDMENT TO AGREEMENT OF PURCHASE AND SALE (this “Amendment”) is executed this
16th day of December, 2005, between MOR MONTPELIER LLC, FORBES BOULEVARD LLC, and DERRY
COURT LLC (collectively, “Seller”) and ASSET CAPITAL PARTNERS, L.P. (“Purchaser”; and, collectively
with Seller, the “Parties”).

     WHEREAS, Seller and Purchaser entered into that certain Agreement of Purchase and Sale dated
November 7, 2005 (the “Original Agreement”), pursuant to which Seller agreed to sell, and Purchaser
agreed to purchase, the real property described therein, subject to the terms thereof.

     WHEREAS, pursuant to that certain First Amendment to Agreement of Purchase and Sale dated
December 12, 2005 (the “First Amendment”), the Parties agreed to extend the Due Diligence Period
until December 14, 2005 at 5:00 p.m. eastern standard time.

     WHEREAS, pursuant to that certain Second Amendment to Agreement of Purchase and Sale dated
December 14, 2005 (the “Second Amendment”), the Parties agreed to extend the Due Diligence Period
until December 16, 2005 at 5:00 p.m. eastern standard time. The Original Agreement, First
Amendment and Second Amendment are collectively referred to herein as the “Agreement”.

     WHEREAS, the Parties have now agreed to further amend the Agreement as described herein. All
terms not otherwise defined herein shall have the meanings set forth in the Agreement.

     NOW, THEREFORE, the Parties hereby agree as follows:

     Purchase Price Modification.

     1.     Anything contained in the Agreement notwithstanding, the Purchase Price under Section
1.1(f) of the Agreement is hereby reduced from Twenty-Three Million Two Hundred Thousand Dollars
($23,200,000.00) to Twenty-Two Million Seven Hundred Thousand Dollars ($27,700,000.00).

     Expiration of Due Diligence.

     2.     Purchaser and Seller acknowledge and agree that, as of the date hereof, the Due Diligence
Period under Section 2.2 of the Agreement has expired. Purchaser hereby waives its right to object
to any remaining issues and/or objections pertaining to the physical status of the Property on the
date hereof, and Purchaser shall have no further right to terminate this Agreement pursuant to said
Section 2.2 of the Agreement.

 

 

     Increase in Deposit.

     3.     Anything contained in Sections 1.1(g) and 1.3 of the Agreement notwithstanding, the Parties
agree that the Additional Deposit under Section 1.1(g), due at the expiration of the Due Diligence
Period under Section 1.3 of the Agreement, is hereby increased from Three Hundred Fifty Thousand
Dollars ($350,000.00) to Six Hundred Fifty Thousand Dollars ($650,000.00) (bringing the total
Earnest Money under the Agreement to $1,000,000). The Additional Deposit shall be payable by
Purchaser to Escrow Agent within three (3) Business Days of the date hereof, pursuant to Section
1.3 of the Agreement. In accordance with the expiration of the Due Diligence Period on the date
hereof, all Earnest Money paid or to be paid by Purchaser to Escrow Agent under the Agreement shall
become non-refundable to Purchaser, except as otherwise expressly provided in the Agreement.

     Defeasance Election and Assumption of Existing Loans.

     4.     Pursuant to Section 2.4 of the Agreement, the Parties acknowledge that Purchaser has
undertaken a Defeasance Election with respect to the Forbes Property, and shall assume the Existing
Loans with respect to the Derry Property and the Montpelier Property.

     Purchase Price Allocation - “Exhibit I” to the Agreement.

     5.     Anything contained in the Agreement notwithstanding, the following shall constitute
“Exhibit I - Purchase Price Allocation” to the Agreement, pursuant to Section 5.2(e) of the
Agreement:

	 	 	 	 	 
	"Exhibit I	 	 	 	 
	Purchase Price Allocation	 	 	 	 
	Forbes Property:
	 	$	9,400,000.00	 
	Derry Property:
	 	$	6,500,000.00	 
	Montpelier Property:
	 	$	6,800,000.00"	 

     Form of Owner’s Affidavit - “Exhibit K” to the Agreement.

     6.     Anything contained in the Agreement notwithstanding, Exhibit A attached hereto,
entitled “Form of Owner’s Affidavit”, shall constitute “Exhibit K - Form of Owner’s
Affidavit” to the Agreement.

     7.     Except as expressly amended by this Amendment, the Agreement is hereby ratified and
affirmed in all respects. This Amendment may be executed by the parties hereby in counterpart.

     8.     This Amendment shall be binding upon and shall inure to the benefit of the parties hereto
and their personal representatives, successors, and assigns.

     9.     This Amendment shall be interpreted and construed in accordance with the laws of the State
of Maryland.

[SIGNATURE PAGE FOLLOWS]

 

 

IN WITNESS WHEREOF, the parties to this Third Amendment to Agreement of Purchase and Sale have set
their hands the day and year first written above.

	 	 	 	 	 
	WITNESSES:	SELLER:

MOR MONTPELIER LLC

 	 
	 	By:  	/s/ Mark Knobloch
 	 (SEAL) 
	 	 	Mark D. Knobloch, President 	 
	 	 	 	 
	 

	 	 	 	 	 
	 	FORBES BOULEVARD LLC

 	 
	 	By:  	/s/ Mark Knobloch
 	(SEAL) 
	 	 	Mark D. Knobloch, President 	 
	 	 	 	 
	 

	 	 	 	 	 
	 	DERRY COURT LLC

 	 
	 	By:  	/s/ Mark Knobloch
 	(SEAL) 
	 	 	Mark D. Knobloch, President 	 
	 	 	 	 
	 

	 	 	 	 	 
	 	PURCHASER:

ASSET CAPITAL PARTNERS, L.P.

 	 
	 	By:  	
ACC GP, LLC, its general partner
 	 
	 	 	 	 

	 	 	 	 	 
	 	By:  	Asset Capital Corporation, Inc., its Sole member
 	 
	 

	 	 	 	 	 
	 	 	 
	 	By:  	/s/Blair Fernau
 	(SEAL) 
	 	 	Blair Fernau, Chief Investment Officerexv10w35

 

Exhibit 10.35

FOURTH AMENDMENT TO

AGREEMENT OF PURCHASE AND SALE

     This FOURTH AMENDMENT TO AGREEMENT OF PURCHASE AND SALE (this “Amendment”) is executed this
9th day of January, 2006, between MOR MONTPELIER LLC, FORBES BOULEVARD LLC, and DERRY
COURT LLC (collectively, “Seller”) and ASSET CAPITAL PARTNERS, L.P. (“Purchaser”; and, collectively
with Seller, the “Parties”).

     WHEREAS, Seller and Purchaser entered into that certain Agreement of Purchase and Sale dated
November 7, 2005 (the “Original Agreement”), as amended by (i) a First Amendment to Agreement of
Purchase and Sale dated December 12, 2005 (the “First Amendment”), (ii) a Second Amendment to
Agreement of Purchase and Sale dated December 14, 2005 (the “Second Amendment”), and (iii) a Third
Amendment to Agreement of Purchase and Sale dated December 16, 2005 (the ‘Third Amendment”). The
Original Agreement as amended by the First Amendment, Second Amendment and Third Amendment is
referred to herein as the “Agreement”.

     WHEREAS, the Parties have now agreed to further amend the Agreement as described herein. All
terms not otherwise defined herein shall have the meanings set forth in the Agreement.

     NOW, THEREFORE, the Parties hereby agree as follows:

     Extension of Closing Date.

     1.     Anything contained in the Agreement notwithstanding, the definition of “Closing Date” under
Section 1.1(j) of the Agreement is hereby deleted in its entirety and replaced with the following:
“As designated by the Purchaser upon not less than 5 business days’ prior written notice, but no
later than January 31, 2006.”

     2.     Except as expressly amended by this Amendment, the Agreement is hereby ratified and
affirmed in all respects. This Amendment may be executed by the parties hereby in counterpart.

     3.     This Amendment shall be binding upon and shall inure to the benefit of the parties hereto
and their personal representatives, successors, and assigns.

     4.     This Amendment shall be interpreted and construed in accordance with the laws of the State
of Maryland.

[SIGNATURE PAGE FOLLOWS]

 

 

     IN WITNESS WHEREOF, the parties to this Fourth Amendment to Agreement of Purchase and Sale have set
their hands the day and year first written above.

	 	 	 	 	 
	WITNESSES:	SELLER:

MOR MONTPELIER LLC

 	 
	 	By:  	/s/ Mark Knobloch
 	 (SEAL) 
	 	 	Mark D. Knobloch, President 	 
	 	 	 	 
	 

	 	 	 	 	 
	 	FORBES BOULEVARD LLC

 	 
	 	By:  	/s/ Mark Knobloch
 	(SEAL) 
	 	 	Mark D. Knobloch, President 	 
	 	 	 	 
	 

	 	 	 	 	 
	 	DERRY COURT LLC

 	 
	 	By:  	/s/ Mark Knobloch
 	(SEAL) 
	 	 	Mark D. Knobloch, President 	 
	 	 	 	 
	 

	 	 	 	 	 
	 	PURCHASER:

ASSET CAPITAL PARTNERS, L.P.

 	 
	 	By:  	
ACC GP, LLC, its general partner
 	 
	 	 	 	 

	 	 	 	 	 
	 	By:  	Asset Capital Corporation, Inc., its Sole member
 	 
	 

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Blair Fernau
 	(SEAL) 
	 	 	Blair Fernau, Chief Investment Officer

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