Document:

EX-10.43

 Exhibit 10.43 

FIRST AMENDMENT TO 

PURCHASE AND SALE AGREEMENT 

THIS FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT (this “Amendment”) is entered into effective as of
February 5, 2013 by and among CRP/WF CREEKSTONE, LLC, a Delaware limited liability company (“Seller”), and TRADE STREET OPERATING PARTNERSHIP, LP, a Delaware limited partnership
(“Purchaser”). 
 RECITALS: 

WHEREAS, Seller and Purchaser entered into that certain Purchase and Sale Agreement dated as of November 16, 2012 (the
“Purchase Agreement”) for the purchase and sale of that certain property commonly known as “Woodfield Creekstone” located at 5472 S. Miami Boulevard, Durham, North Carolina, as the same is more particularly described in
the Purchase Agreement (the “Property”); and 
 WHEREAS, Seller and Purchaser desire to amend the Purchase Agreement as provided
herein. 
 NOW, THEREFORE, in consideration of the mutual covenants of Seller and Purchaser and for other good and valuable
consideration, the receipt and sufficiency of which the parties hereby acknowledge, Seller and Purchaser hereby agree as follows: 

1. Incorporation of Recitals; Capitalized Terms. The Recitals set forth above are hereby incorporated herein to the same extent as if
fully set forth herein. All capitalized terms stated herein shall have the same meanings as ascribed to them in the Purchase Agreement unless otherwise defined. 

2. Definitions. Paragraphs 1.1(j) and (k) of the Purchase Agreement are hereby amended and restated in their entirety to read as
follows: 
 “(j) Closing Date: The date that is forty (40) days after Seller notifies Purchaser that is has received the
Final Certificate of Occupancy for the Project (as hereinafter defined); provided, however, that (a) if Seller shall have not notified Purchaser that it has received the Final Certificate of Occupancy for the Project on or before March 27,
2013, the Closing Date shall be adjusted to that date that is ten (10) business days after Seller notifies Purchaser that is has received the Final Certificate of Occupancy for the Project, but in no event before May 6, 2013 or after
June 14, 2013, and (b) if Seller shall have notified Purchaser that it has received the Final Certificate of Occupancy for the Project before March 27, 2013, Purchaser shall have the one-time right to extend the Closing Date to
May 6, 2013 by depositing with the Escrow Agent the Closing Extension Deposit at least five (5) business days prior to the then scheduled Closing Date. 

(k) Final Certificate of Occupancy for the Project: The non-conditional Certificates of Compliance issued by the Durham City-County
Inspections Department in connection with the 

 
construction and development of the Project.” 
 3. Closing Extension.
Paragraph 6.1 of the Purchase Agreement is hereby amended and restated in its entirety to read as follows: 
 “The consummation of the
transaction contemplated herein (“Closing”) shall occur on the Closing Date at the offices of the Escrow Agent or pursuant to escrow arrangements reasonably satisfactory to Purchaser and Seller. 

Upon completion of the deliveries pursuant to Paragraphs 6.2 and 6.3 below, satisfaction of the other conditions to Closing
herein set forth and performance by each party of its obligations required to be performed prior to or at the Closing, the parties shall direct the Title Company to make such deliveries and disbursements according to the terms of this
Agreement.” 
 4. Earnest Money. Notwithstanding anything to the contrary contained in the Purchase Agreement, Purchaser hereby
(a) irrevocably authorizes and directs the Escrow Agent to disburse immediately to Seller a portion of the Earnest Money in the amount of Three Hundred Seventy-Five Thousand Dollars ($375,000) (the “Disbursement”), and
(b) acknowledges and agrees that such Earnest Money is nonrefundable except in the event that Seller defaults in its obligation to sell and convey the Property to Purchaser in accordance with the terms and conditions of the Purchase Agreement,
as amended hereby. In the event that Seller defaults in its obligation to sell and convey the Property to Purchaser in accordance with the terms and conditions of the Purchase Agreement, as amended hereby, Purchaser shall have the rights and
remedies set forth in Section 9.2 of the Purchase Agreement, including, without limitation, the right to receive a return of the Disbursement as part of the Earnest Money. At Closing, the Disbursement shall be credited, and the balance of the
Earnest Money applied, against the Purchase Price in accordance with Section 1.4 of the Purchase Agreement, as amended hereby. 
 5.
Stormwater Work. Pursuant to that certain Stormwater Facility Agreement and Covenants dated as of December 14, 2011, and recorded as Instrument 201200296 in the Durham County Register of Deeds, by and between Seller and the City of
Durham, Seller agreed, inter alia, to construct certain stormwater management facility(ies) in accordance with the plans approved by the Director of Public Works (the “Stormwater Facility”). As of the date hereof, Seller has
completed such construction work of the Stormwater Facility as is necessary to achieve a Tier 3 Certification. Certain construction work (the “Stormwater Work”) to the Stormwater Facility, however, remains to be completed in order
to achieve BMP As-Built Certification (“BMP Certification”) from a BMP Certifying Engineer (“BCE”). 
 In
a letter dated as of the date hereof from Seller to the City of Durham – Department of Public Works, a copy of which is attached hereto as Exhibit A (the “Stormwater Services Letter”), Seller and Buyer acknowledge that
the Stormwater Work is comprised of the items described in Paragraphs 4(a)-(n) of the Letter. The Stormwater Work described in the Letter shall be deemed to be Punch List Items for all purposes under the Purchase Agreement, except as

 
otherwise expressly provided in this Amendment. Seller agrees to diligently carry on construction of such Stormwater Work during the contract period with the intent to achieve BCE BMP
Certification. Buyer acknowledges, however, that as of the Closing Date certain items of Stormwater Work may remain to be completed and/or BCE BMP Certification shall have not been obtained. If, on or before the Closing Date, items of Stormwater
Work are not completed (as reasonably determined by Seller and Purchaser) and/or BCE BMP Certification shall have not been obtained, then One Hundred Fifty Percent (150%) of the amount required (as reasonably determined by Seller and Purchaser)
to complete such outstanding items and obtain BCE BMP Certification shall be withheld from Seller’s proceeds at Closing, placed in escrow as a Punch List Holdback, and disbursed after the Closing in accordance with the Punch List Holdback
Agreement as such outstanding items are completed until BCE BMP Certification is obtained. 
 6. Ratification of Agreement. Except as
modified by this Amendment, all of the terms and provisions of the Purchase Agreement are hereby ratified and confirmed by Seller and Purchaser and shall remain in full force and effect. 

7. Counterparts. This Amendment may be executed in multiple counterparts, all of which taken together shall constitute one and the same
agreement, binding upon the parties hereto. 
 [Signature Page(s) to Follow] 

 IN WITNESS WHEREOF, Purchaser and Seller have executed this Amendment as of the date first above
written. 
 SELLER: 
 CRP/WF CREEKSTONE, LLC 

a Delaware limited liability company 
  

			
	
		
	By:	 	/s/ Michael A. Underwood
	Name:	 	Michael A. Underwood
	Title:	 	Manager

 PURCHASER: 
 TRADE STREET
OPERATING PARTNERSHIP, LP 
 a Delaware limited partnership 
  

			
	
		
	By:	 	/s/ Bert Lopez
	Name:	 	Bert Lopez
	Title:	 	COO/CFO

  
  
  

 EXHIBIT A 

Storm Services LetterEX-10.44

 Exhibit 10.44 

SECOND AMENDMENT TO 

PURCHASE AND SALE AGREEMENT 

THIS SECOND AMENDMENT TO PURCHASE AND SALE AGREEMENT (this “Second Amendment”) is entered into effective as of
May 2, 2013 by and among CRP/WF CREEKSTONE, LLC, a Delaware limited liability company (“Seller”), and TRADE STREET OPERATING PARTNERSHIP, LP, a Delaware limited partnership
(“Purchaser”). 
 RECITALS: 

WHEREAS, Seller and Purchaser entered into that certain Purchase and Sale Agreement dated as of November 16, 2012 (the
“Original Agreement”), as amended by that certain First Amendment dated as of February 5, 2013 (the “First Amendment” and, together with the Original Agreement, collectively, the “Purchase
Agreement”) for the purchase and sale of that certain property commonly known as “Woodfield Creekstone” located at 5472 S. Miami Boulevard, Durham, North Carolina, as the same is more particularly described in the Purchase
Agreement (the “Property”); and 
 WHEREAS, Seller and Purchaser desire to amend the Purchase Agreement as provided
herein. 
 NOW, THEREFORE, in consideration of the mutual covenants of Seller and Purchaser and for other good and valuable
consideration, the receipt and sufficiency of which the parties hereby acknowledge, Seller and Purchaser hereby agree as follows: 

1.        Incorporation of Recitals; Capitalized Terms. The Recitals set forth above are hereby
incorporated herein to the same extent as if fully set forth herein. All capitalized terms stated herein shall have the same meanings as ascribed to them in the Purchase Agreement unless otherwise defined. 

2.        Definitions. Paragraph 1.1(j) of the Purchase Agreement is hereby amended and
restated in its entirety to read as follows: 
 “(j)      Closing Date: Tuesday, May 14,
2013.” 
 3.        Earnest Money. Notwithstanding anything to the contrary contained in
the Purchase Agreement, Purchaser hereby (a) irrevocably authorizes and directs the Escrow Agent to disburse immediately to Seller the remaining Earnest Money in the amount of Five Hundred Seventy-Five Thousand Dollars ($575,000) (the
“May Disbursement”), and (b) acknowledges and agrees that such Earnest Money is nonrefundable except in the event that Seller defaults in its obligation to sell and convey the Property to Purchaser in accordance with the terms
and conditions of the Purchase Agreement, as amended hereby. In the event that Seller defaults in its obligation to sell and convey the Property to Purchaser in accordance with the terms and conditions of the Purchase Agreement, as amended hereby,
Purchaser shall have the rights and remedies set forth in Section 9.2 of the Purchase Agreement, including, without 

 
limitation, the right to receive a return of the May Disbursement as Earnest Money. At Closing, the February Disbursement (as hereinafter defined) and the May Disbursement shall be credited
against the Purchase Price in the same manner as Earnest Money in accordance with Section 1.4 of the Purchase Agreement, as amended hereby. “February Disbursement” shall mean that non-refundable portion of the Earnest Money in the
amount of Three Hundred Seventy Five Thousand Dollars ($375,000) previously disbursed by Escrow Agent to Seller, in accordance with and subject to the First Amendment. 

4.        Rent. 
  

	 	a.        	Paragraph 7.l(a) of the Purchase Agreement is hereby amended and restated in its entirety to read as follows: 

“Collected Rent. All collected rent and other collected income (and any applicable state or local tax on rent) under Leases in
effect on the Closing Date shall be prorated as of May 31, 2013. Uncollected rent and other income shall not be prorated. Purchaser shall apply rent and other income from tenants that are collected after the Closing first to the obligations
then owing to Purchaser for its period of ownership after May 31, 2013 and to costs of collection, remitting the balance, if any, to Seller. Seller expressly agrees that if Seller receives any amounts after the Closing Date which are
attributable, in whole or in part, to any period after May 31, 2013, Seller shall remit to Purchaser that portion of the monies so received by Seller to which Purchaser is entitled within thirty (30) days after receipt thereof. Any prepaid
rents for the period following May 31, 2013 shall, at Seller’s election, be paid over by Seller to Purchaser at Closing or credited against the Purchase Price at Closing. Purchaser will make reasonable efforts, without suit, to collect any
rents applicable to the period before May 31, 2013. Seller may pursue collection as to any rent not collected by Seller prior to the Closing Date, provided that Seller shall have no right to commence or pursue any legal proceedings against any
tenants seeking eviction of such tenant or take any action to terminate any Lease or any tenant’s occupancy under any Lease in connection therewith.” 
  

	 	b.	The first sentence of Paragraph 7.2 of the Purchase Agreement is hereby amended and restated in its entirety to read as follows: 

“All tenant security deposits in Seller’s possession (including, without limitation, pet deposits) and any prepaid rent for the
period after May 31, 2013, as reflected on the final Rent Roll delivered to Purchaser, (and interest thereon if required by law or contract to be earned thereon) and not theretofore applied to tenant obligations under the Leases
(“Deposits”) shall be transferred or credited to Purchaser at Closing or placed in escrow if required by law.” 

5.         Purchaser’s Conditions to Closing. 

 

	 	a.	 Due Diligence. Purchaser hereby acknowledges and agrees that is has completely and irrevocably satisfied itself with respect to the condition
precedent set forth in Paragraph 5.1(a) of the Purchase Agreement, and that 

	 	
Purchaser shall not hereafter be entitled to terminate this Agreement based upon the alleged failure of such condition. 

 

	 	b.	Final Certificate of Occupancy. Purchaser hereby acknowledges and agrees that is has completely and irrevocably satisfied itself with respect to the condition precedent set forth in Paragraph 5.l(d) of the Purchase
Agreement, and that Purchaser shall not hereafter be entitled to terminate this Agreement based upon the alleged failure of such condition. 

6.     Ratification of Agreement. Except as modified by this Second Amendment, all of the terms and provisions of
the Purchase Agreement are hereby ratified and confirmed by Seller and Purchaser and shall remain in full force and effect. 

7.         Counterparts. This Second Amendment may be executed in multiple counterparts, all of
which taken together shall constitute one and the same agreement, binding upon the parties hereto. 
 [Signature Page(s) to Follow]

 IN WITNESS WHEREOF, Purchaser and Seller have executed this Second Amendment as of the date first
above written. 
 SELLER: 
 CRP/WF CREEKSTONE, L.L.C.,

 a Delaware limited liability company 
  

 
  

	 	By:	CRP/WF Creekstone Venture, L.L.C., 

	 	    	a Delaware limited liability company, its 

	 	    	sole member 

  
  

	 	By:	CRP/WF Creekstone Venture, L.L.C., 

	 	    	a Delaware limited liability company, its 

	 	    	sole member 

  
  

			
	
		
	By:	 	/s/ Robert C. Konigsberg
	Name:	 	Robert C. Konigsberg
	Title:	 	Treasurer

  
  

PURCHASER: 
  

TRADE STREET OPERATING PARTNERSHIP, LP 
 a Delaware limited
partnership 
  
  

			
	
		
	By:	 	/s/ Bert Lopez
	Name:	 	Bert Lopez
	Title:	 	COO/CFO

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