Document:

Exhibit 10.2

 

FIRST AMENDMENT TO PURCHASE AGREEMENT

 

 

THIS FIRST AMENDMENT
TO PURCHASE AGREEMENT (this “Amendment”) is made by and between BEHRINGER HARVARD 1221 COIT LP,
a Texas limited partnership (“Seller”), and CARTER VALIDUS PROPERTIES, LLC, a Delaware limited liability
company (“Purchaser”), effective as of this ___ day of July, 2012.

 

WITNESSETH:

 

WHEREAS, Purchaser
and Seller are parties to that certain Purchase Agreement, dated effective July 5, 2012, (the
“Agreement”) regarding certain improved real property located at 1221 Coit Road, Plano, Texas (the “Property”);
and

 

WHEREAS, Purchaser
and Seller desire to amend the Agreement to provide the parties with sufficient time to obtain and address Title and Survey matters.

 

NOW, THEREFORE,
in consideration of the foregoing, and in consideration of the mutual covenants herein
contained, the parties hereto agree as follows:

 

1.                 
Definitions. Capitalized terms used herein without definition, shall have the meaning assigned in the Agreement.

 

2.                 
Review of Commitment and Survey. Section 2.3 of the Agreement is amended in its entirety to read as follows:

 

“Purchaser
acknowledges that it has received the Title Commitment, copies of all instruments referred to in Schedule B and Schedule C
thereof, the Survey and a draft of an Updated Survey and has advised Seller that there are numerous defects in the draft Updated
Survey. Purchaser shall have until 5 p.m. eastern time on July 27, 2012 to provide a written list of the defects in the draft updated
Survey to the surveyor and to Seller. In the event that Purchaser does not deliver a list of purported defects to the Updated Survey
by July 27, 2012, the Title Review Period (as defined below), will be deemed to commence on July 30, 2012. Thereafter, Purchaser
shall have five (5) business days after the receipt of a revised Updated Survey purporting correct such defects (the “Title
Review Period”) to notify Seller in writing of such objections as Purchaser may have to anything contained in the Commitment
or the revised Updated Survey, including any defects contained in Purchaser’s written notice that were not corrected in the
revised Updated Survey; provided, however, that Purchaser shall not have the right to object to any Permitted Exceptions described
in Section 2.5 below. If Purchaser fails to object in writing to any item contained in the Commitment or the revised Updated Survey
during the Title Review Period, Purchaser shall be deemed to have waived its right to object to such item, and such item shall
thereafter be deemed a Permitted Exception. In the event that Purchaser objects to any item contained in the Commitment or the
Survey within the Title Review Period (such items being herein referred to as “Title Defects”), Seller shall notify
Purchaser in writing within five (5) business days following the date of Purchaser’s notice of such Title Defects (the “Cure
Period”) that either (a) the Title Defects have been, or will be at or prior to Closing, removed from the Commitment
or the Survey, as the case may be, or (b) Seller has failed or refuses to arrange to have the Title Defects removed. Purchaser
shall not direct the surveyor to delay or not deliver a revised Updated Survey.”

 

    	First Amendment to Purchase Agmt (Coit Road)	1	 

    	 

    
 

3.                 
Expiration of Inspection Period. Section 2.7 of the Agreement is hereby deleted in its entirety.

 

4.                 
Right of Termination. Section 3.3 of the Agreement is amended by adding the following sentence at the end thereof:
“Notwithstanding the foregoing, the Inspection Period shall be extend until July 27, 2012 solely with respect to zoning matters,
Purchaser’s right to terminate this Agreement under Section 3.3 of this Agreement being deemed to have been waived with respect
to all other matters.

 

5.                 
Notice. The last paragraph of Section 9.5 following the addresses for notice to the parties is deleted and replaced
by the following:

 

“Any notice, request, consent,
approval or other communication required or permitted to be given by any provision of this Agreement shall be in writing and shall
be (a) mailed by first class, United States mail, postage prepaid, certified, with return receipt requested, and addressed
to the parties hereto at the address listed below, (b) hand delivered to the intended addressee, (c) sent by nationally
recognized receipted overnight courier, or (d) sent by electronic facsimile (“Fax”) or email if such Fax or email is
followed within three business days by a hard copy of the Fax or email communication sent by one of the other three specified delivery
methods, charges prepaid and addressed as provided below or to such other address as the recipient party may from time to time
specify by notice to the other party given in conformance with this Section 9.5. Any such notice shall be deemed to be delivered,
given, and received for all purposes as of (A) three business days after being deposited in the United States mail, (B) the actual
date of delivery or transmission, as shown on the postal or courier service receipt, or on the transmittal log sheet generated
by the sending Fax machine, or as evidenced by the time of delivery on the email, if delivered or transmitted before 5:00 pm, recipient’s
local time, on a Business Day (and, otherwise, on the first Business Day after the date of actual delivery or transmission) or
(C) as of the actual date of attempted delivery (but not attempted but failed Fax transmission), if delivery is attempted but refused
between the hours of 9:00 am and 5:00 pm, recipient’s local time, on a Business Day. Copies of notices are for informational
purposes only, and a failure to give or receive copies of any notice shall not be deemed a failure to give notice.”

 

    	First Amendment to Purchase Agmt (Coit Road)	2	 

    	 

    
 

6.                 
Ratification. Purchaser and Seller ratify all other provisions of the Agreement, except
as may be inconsistent with the specific terms of this Amendment.

 

7.                 
Counterparts. This Amendment may be executed in as many counterparts as may be required and all counterparts shall
collectively constitute a single instrument. An executed copy of this Amendment delivered by facsimile or e-mail shall have the
effect of an original executed instrument.

 

    	First Amendment to Purchase Agmt (Coit Road)	3	 

    	 

    
 

IN WITNESS WHEREOF,
Seller and Purchaser have signed and delivered this Amendment to be effective as of the date first set forth above.

 

	 	PURCHASER:   
	 	 
	 	CARTER VALIDUS PROPERTIES, LLC, a 
	 	Delaware limited liability company  
	 	 
	 	By:_____________________________
	 	Name: John E. Carter
	 	Title: Manager    

 

 

  

	 	SELLER: 
	 	 
	 	BEHRINGER HARVARD 1221 COIT LP,
	 	a Texas limited partnership  

 

		By:	Behringer Harvard 1221 Coit GP, LLC,
	 	 	a Texas limited liability company, its
	 	 	general partner    
	 	 	 
	 	 	 
	 	 	By:__________________________
	 	 	Print Name:____________________
	 	 	Title:_________________________
	 	 	 

 

 

    	First Amendment to Purchase Agmt (Coit Road)	4Exhibit 10.3

 

NOTE MODIFICATION AGREEMENT

AND ASSIGNMENT OF PROCEEDS

 

THIS NOTE MODIFICATION
AGREEMENT AND ASSIGNMENT OF PROCEEDS (this (“Agreement”) is executed effective as of the ___ day of _________
2012, from BEHRINGER HARVARD SHORT-TERM OPPORTUNITY FUND I LP, a Texas limited partnership (“Assignor”), to
BEHRINGER HARVARD HOLDINGS, LLC, a Delaware limited liability company (“Assignee”).

 

RECITALS

 

A.               
Assignor executed and delivered to Assignee that certain Fifth Amended and Restated Unsecured Promissory Note dated as of
March 29, 2011 (the “Note”) in the original principal amount of up to Twenty Five Million Dollars ($25,000,000)
payable to the order of Assignee.

 

B.                
In connection with a modification of the Note, Assignor and Assignee have agreed to execute this Agreement.

 

1.                 
Defined Terms. As used in this Agreement, the following terms shall have the following meanings:

 

(a)               
“Carpenter Net Sales Proceeds” means the sales proceeds received by Assignor (or received by the
Carpenter Owner) as a result of the sale of the Carpenter Property to an independent buyer in an arm’s length transaction,
net of any indebtedness required to be paid from such proceeds and net of closing costs.

 

(b)              
“Carpenter Owner” means Behringer Harvard 250/290 Carpenter LP, a Texas limited partnership.

 

(c)              
“Carpenter Property” means that certain 539,368 square foot office building and related real and
personal property located at 250/290 E John Carpenter, Irving, Texas, owned by the Carpenter Owner.

 

(d)              
“Coit Net Sales Proceeds” means the sales proceeds received by Assignor (or received by any subsidiary
of Assignor that is a partner in the Coit Owner) as a result of the sale of the Coit Property to an independent buyer in an arm’s
length transaction, net of any indebtedness required to be paid from such proceeds and net of closing costs.

 

(e)               
“Coit Owner” means Behringer Harvard 1221 Coit LP, a Texas limited partnership.

 

(f)               
“Coit Property” means that certain 128,753 square foot office building and related real
and personal property located at 1221 Coit Road, Plano, Texas, owned by the Coit Owner.

 

(g)               
“Landmark Owner” means Behringer Harvard Landmark LP, a Texas limited partnership.

 

2.                 
Extension of Maturity Date. The Note is hereby modified to provide that the “Maturity Date” shall be
May 31, 2014.

 

    	Note Modification Agreement and Assignment of Proceeds	Page 1

    	 

    
 

3.                 
Assignments. In order to secure payment of the Note, Assignor hereby assigns to Assignee the following: (a) the Carpenter
Net Sales Proceeds; (b) the Coit Net Sales Proceeds; (c) all amounts received by Assignor (or received by Landmark Owner, its subsidiary)
under that certain Earn Out Agreement dated as of June 10, 2011, executed between Landmark Owner and Crow-Billingsley Investment
Company, a Texas corporation; and (d) all amounts received by Assignor under that certain Earnout and Services Agreement dated
as of January 18, 2012, executed between Assignor and various entities related to Crow-Billingsley Investment Company. Subject
to the provisions of Section 6 below, the Carpenter Net Sales Proceeds, the Coit Net Sales Proceeds and the amounts described in
clauses (c) and (d) of the preceding sentence, as applicable, shall be paid to Assignee no later than the next business day following
the date that Assignor (or the Carpenter Owner or the Coit Owner or the Landmark Owner, as the case may be) receives such proceeds.
Assignee shall apply such proceeds towards payment of the Note.

 

4.                 
Time of the Essence. Time is of the essence of each obligation of Assignor hereunder.

 

5.                 
Covenant as to Further Assurances. Assignor will (and will cause the Carpenter Owner and the Coit Owner and the Landmark
Owner to) from time to time hereafter execute and deliver such further instruments and take such further action as may be reasonably
requested by Assignee to carry out the purposes of this Agreement.

 

6.                 
No Violation of Existing Loan Documents. If any provision of this Agreement violates the provisions of any loan document
(including, without limitation, any subordination agreement) to which Assignor or Assignee is a party, such provision shall be
deemed modified (or deleted if necessary) to the extent necessary to cause Assignor or Assignee, as the case may be, to be in compliance
with such loan document. Without limiting the generality of the preceding sentence, this Agreement is subject to the terms of any
subordination agreement executed by Assignee for the benefit of any other creditor of Assignor.

 

7.                 
Binding Effect. The terms, provisions, representations and warranties herein contained shall inure to the benefit
of, and bind the parties hereto and their respective heirs, devisees, representatives, successors and assigns.

 

8.                 
Counterparts. This Agreement may be executed in any number of counterparts with the same effect as if all parties
hereto had signed the same document. All such counterparts shall be construed together and shall constitute one instrument, but
in making proof hereof it shall only be necessary to produce one such counterpart.

 

9.                
Applicable Law. This Agreement is performable in Dallas County, Texas and shall in all respects be governed by, and
construed in accordance with, the substantive federal laws of the United States and the laws of the State of Texas.

 

10.             
Miscellaneous. Within this Agreement, words of any gender shall be held and construed to include any other gender,
and words in the singular number shall be held and construed to include the plural, unless the context otherwise requires. Captions
in this Agreement are intended for convenience only and are not to be considered in interpreting the provisions hereof. The parties
agree that time is of the essence with respect to this Agreement.

 

 

[Signature Page Follows]

 

    	Note Modification Agreement and Assignment of Proceeds	Page 2

    	 

    
 

IN WITNESS WHEREOF,
the undersigned has duly executed this Agreement as of the day and year first written above.

 

 

	 	ASSIGNOR:
	 	 
	 	BEHRINGER HARVARD

SHORT-TERM OPPORTUNITY FUND I LP

a Texas limited partnership
	 	 

 

	 	By: 	Behringer Harvard Advisors II LP,

a Texas limited partnership,
	 		its general partner
	 	 	 

 

	 	 	By:	 
	 	 	 	 
	 	 	Name:	 
	 	 	 	 
	 	 	Title:	 
	 	 	 	 
	 	 	 	 

 

	 	ASSIGNEE:
	 	 
	 	BEHRINGER HARVARD HOLDINGS, LLC,
	 	a Delaware limited liability company
	 	 

 

	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 

 

    	Note Modification Agreement and Assignment of Proceeds	Page 3

    	 

    
 

CONSENT OF OWNERS

 

The undersigned execute
this Agreement for the purpose of acknowledging their consent thereto and their agreement to apply the Carpenter Net Sales Proceeds,
the Coit Net Sales Proceeds and the amounts described in Section 3(c) above as provided in this Agreement.

 

 

	 	BEHRINGER HARVARD 1221 COIT LP,

a Texas limited partnership

 

	 	By: 	Behringer Harvard 1221 Coit GP, LLC,

a Texas limited liability company,

its general partner

  

	 	 	By:	 
	 	 	 	 
	 	 	Name:	 
	 	 	 	 
	 	 	Title:	 

 

 

 

	 	BEHRINGER HARVARD 250/290
Carpenter LP,

a Texas limited partnership

 

	 	By: 	Behringer Harvard 250/290 Carpenter GP, LLC,

a Texas limited liability company,

its general partner

  

	 	 	By:	 
	 	 	 	 
	 	 	Name:	 
	 	 	 	 
	 	 	Title:	 

 

 

 

	 	BEHRINGER HARVARD LANDMARK LP,

a Texas limited partnership

 

	 	By: 	Behringer Harvard Landmark GP, LLC,

a Texas limited liability company,

its general partner

  

	 	 	By:	 
	 	 	 	 
	 	 	Name:	 
	 	 	 	 
	 	 	Title:	 

  

    	Note Modification Agreement and Assignment of Proceeds	Page 4

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