Document:

exv10w84

 

Exhibit 10.84

SECOND AMENDMENT TO

CONTRIBUTION AGREEMENT

     This SECOND AMENDMENT TO CONTRIBUTION AGREEMENT (the “Amendment”) is made and entered
into as of May 2, 2005 by and between Clinton D. Fisch and Tracey E. Fisch, as
tenants-by-the-entirety (collectively, “Contributor”) and Columbia Equity, LP, a Virginia
limited partnership (“Acquirer”) with reference to the following facts:

RECITALS:

	 	A.	 	Contributor and Acquirer have entered into that certain Contribution Agreement
for a membership interest in Holualoa/Carr Capital Sherwood, LLC, dated January 31,
2005, as amended by that certain First Amendment to Contribution Agreement, dated March
30, 2005 (collectively, the “Contract”);
	 
	 	B.	 	Contributor and Acquirer have mutually agreed upon a hypothetical sale of the
Property (as defined in the Contract) for a sale price of Fourteen Million Six Hundred
Thousand Dollars ($14,600,000);
	 
	 	C.	 	Contributor and Acquirer have mutually agreed that the Contract shall terminate
if the Closing (as defined in the Contract) does not occur prior to June 30, 2005
pursuant to the terms of the Contract; and
	 
	 	D.	 	Contributor and Acquirer desire to amend the Contract as described below.

     NOW, THEREFORE, for and in consideration of the agreements and obligations hereinafter set
forth and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged by the parties hereto, Contributor and Acquirer agree as follows:

TERMS

	1.	 	Increase of Sale Price. Contributor and Acquirer hereby agree to amend Section 1.2
of the Contract to provide as follows:
	 
	 	 	The total consideration (the “Consideration”) for which Contributor agrees to
contribute and assign the Membership Interest to Acquirer, and which Acquirer agrees to pay
or deliver to Contributor, subject to the terms of this Agreement, shall be the issuance to
Contributor of a number of units of limited partnership interests in Acquirer
(“Units”) equal to (a) the amount of Net Cash Flow (as defined in the LLC Operating
Agreement) that Contributor would be entitled to receive pursuant to Section 3.1 of the LLC
Operating Agreement upon a hypothetical sale of the Property for a sale price of Sixteen
Million Dollars ($16,000,000) less the principal and accrued interest on the mortgage loan
secured by the Property (the “Mortgage Loan”) (with the Liquidating LLC Members
being entitled to any disproportionate distribution of Net Cash Flow that the Liquidating
LLC would be entitled to if it had not liquidated), (b) divided by the price per share at
which the common stock, $.01 par value per share, (the “Common Stock”) of Columbia

 

 

	 	 	Equity Trust, Inc., a Maryland corporation and the general partner of Acquirer (the
“REIT”), is offered to the public in the underwritten initial public offering of the
Common Stock (the “IPO”). On the Closing Date (as defined below), the Units shall
be issued to Contributor. Upon the request of Contributor, Acquirer shall issue
certificates reflecting Contributor’s ownership of Units. The certificates evidencing the
Units will bear appropriate legends indicating (i) that the Units have not been registered
under the Securities Act of 1933, as amended (“Securities Act”), and (ii) that
Acquirer’s Amended and Restated Agreement of Limited Partnership (the “Partnership
Agreement”) restricts the transfer of the Units. Upon receipt of the Units and
execution and delivery of the Partnership Agreement, Contributor shall become a limited
partner of Acquirer.

	2.	 	Extension of Closing Date. Contributor and Acquirer hereby agree to amend Sections
3.1(g) and 3.2(g) of the Contract to provide as follows:
	 
	 	 	The Closing shall have occurred on or prior to July 31, 2005.

Contributor and Acquirer hereby agree to amend Section 4.1 of the Contract to provide as follows:

	 	 	The consummation and closing (the “Closing”) of the transactions
contemplated under this Agreement shall take place at the offices of Hunton &
Williams LLP, Washington, D.C., or such other place as is mutually agreeable to the
parties, on the date of the closing of the IPO (the “Closing Date”), or as
otherwise set by agreement of the parties; provided, however, that this Agreement
shall terminate if Closing does not occur prior to July 31, 2005.
	 
	3.	 	Ratification. Except as modified by this Amendment, the Contract remains in full
force and effect.
	 
	4.	 	Counterparts. This Amendment may be executed in multiple counterparts, each of which
shall be deemed an original, and all of which, taken together, shall constitute one and the
same instrument.

 

 

     IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first set
forth above.

	 	 	 	 	 	 	 
	 	 	CONTRIBUTOR:
	 
	 	 	 	 	 	 
	 	 	Clinton D. Fisch and Tracey E. Fisch, as
tenants-by-the-entirety
	 
	 	 	 	 	 	 
	 	 	By:	 	     /s/ Clinton D. Fisch
	 	 	 	 	 
	 	 	 	 	Clinton D. Fisch
	 
	 	 	 	 	 	 
	 	 	By:	 	     /s/ Tracey E. Fisch
	 	 	 	 	 
	 	 	 	 	Tracey E. Fisch
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	ACQUIRER:
	 
	 	 	 	 	 	 
	 	 	Columbia Equity LP, a Virginia limited partnership
	 
	 	 	 	 	 	 
	 	 	By:	 	Columbia Equity Trust, Inc., a Maryland
corporation, its general partner
	 
	 	 	 	 	 	 
	 

	 	 	 	By:
	 	/s/ Oliver T. Carr, III
	 

	 	 	 	 	 	 
	 

	 	 	 	 	 	      Name: Oliver T. Carr, III

      Title: Chairman and Chief Executive Officerexv10w85

 

Exhibit 10.85

SECOND AMENDMENT TO

CONTRIBUTION AGREEMENT

     This SECOND AMENDMENT TO CONTRIBUTION AGREEMENT (the “Amendment”) is made and entered
into as of May 2, 2005 by and between Carr Capital Real Estate Investments, LLC, a Virginia limited
liability company (“Contributor”) and Columbia Equity, LP, a Virginia limited partnership
(“Acquirer”) with reference to the following facts:

RECITALS:

	 	A.	 	Contributor and Acquirer have entered into that certain Contribution Agreement
for a membership interest in Holualoa/Carr Capital Sherwood, LLC, dated January 31,
2005, as amended by that certain First Amendment to Contribution Agreement, dated March
28, 2005 (collectively, the “Contract);
	 
	 	B.	 	Contributor and Acquirer have mutually agreed upon a hypothetical sale of the
Property (as defined in the Contract) for a sale price of Fourteen Million Six Hundred
Thousand Dollars ($14,600,000);
	 
	 	C.	 	Contributor and Acquirer have mutually agreed that the Contract shall terminate
if the Closing (as defined in the Contract) does not occur prior to June 30, 2005
pursuant to the terms of the Contract; and
	 
	 	D.	 	Contributor and Acquirer desire to amend the Contract as described below.

     NOW, THEREFORE, for and in consideration of the agreements and obligations hereinafter set
forth and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged by the parties hereto, Contributor and Acquirer agree as follows:

TERMS

	1.	 	Increase of Sale Price. Contributor and Acquirer hereby agree to amend Section 1.2
of the Contract to provide as follows:
	 
	 	 	The total consideration (the “Consideration”) for which Contributor agrees to
contribute and assign the Membership Interest to Acquirer, and which Acquirer agrees to pay
or deliver to Contributor, subject to the terms of this Agreement, shall be the issuance to
Contributor of a number of units of limited partnership interests in Acquirer
(“Units”) equal to (a) the amount of Net Cash Flow (as defined in the LLC Operating
Agreement) that Contributor would be entitled to receive pursuant to Section 3.1 of the LLC
Operating Agreement upon a hypothetical sale of the Property for a sale price of Sixteen
Million Dollars ($16,000,000) less the principal and accrued interest on the mortgage loan
secured by the Property (the “Mortgage Loan”) (with the Liquidating LLC Members
being entitled to any disproportionate distribution of Net Cash Flow that the Liquidating
LLC would be entitled to if it had not liquidated), (b) divided by the price per share at
which the common stock, $.01 par value per share, (the “Common Stock”) of Columbia

 

 

	 	 	Equity Trust, Inc., a Maryland corporation and the general partner of Acquirer (the
“REIT”), is offered to the public in the underwritten initial public offering of the
Common Stock (the “IPO”). On the Closing Date (as defined below), the Units shall
be issued to Contributor. Upon the request of Contributor, Acquirer shall issue
certificates reflecting Contributor’s ownership of Units. The certificates evidencing the
Units will bear appropriate legends indicating (i) that the Units have not been registered
under the Securities Act of 1933, as amended (“Securities Act”), and (ii) that
Acquirer’s Amended and Restated Agreement of Limited Partnership (the “Partnership
Agreement”) restricts the transfer of the Units. Upon receipt of the Units and
execution and delivery of the Partnership Agreement, Contributor shall become a limited
partner of Acquirer.
	2.	 	Extension of Closing Date. Contributor and Acquirer hereby agree to amend Sections
3.1(g) and 3.2(g) of the Contract to provide as follows:
	 
	 	 	The Closing shall have occurred on or prior to July 31, 2005.

Contributor and Acquirer hereby agree to amend Section 4.1 of the Contract to provide as follows:

	 	 	The consummation and closing (the “Closing”) of the transactions contemplated under
this Agreement shall take place at the offices of Hunton & Williams LLP, Washington, D.C.,
or such other place as is mutually agreeable to the parties, on the date of the closing of
the IPO (the “Closing Date”), or as otherwise set by agreement of the parties;
provided, however, that this Agreement shall terminate if Closing does not occur prior to
July 31, 2005.
	 
	3.	 	Ratification. Except as modified by this Amendment, the Contract remains in full
force and effect.
	 
	4.	 	Counterparts. This Amendment may be executed in multiple counterparts, each of which
shall be deemed an original, and all of which, taken together, shall constitute one and the
same instrument.

 

 

     IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first set
forth above.

	 	 	 	 	 	 	 
	 	 	CONTRIBUTOR:
	 
	 	 	 	 	 	 
	 	 	Carr Capital Real Estate Investment, LLC, a Virginia
limited liability company
	 
	 	 	 	 	 	 
	 	 	By:	 	Carr Capital Corporation, a District of Columbia
corporation, its managing member
	 
	 	 	 	 	 	 
	 

	 	 	 	By:
	 	/s/ Oliver T. Carr, III
	 

	 	 	 	 	 	 
	 	 	 	 	Name: Oliver T. Carr, III
	 	 	 	 	Title: President
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	ACQUIRER:
	 
	 	 	 	 	 	 
	 	 	Columbia Equity LP, a Virginia limited
partnership
	 
	 	 	 	 	 	 
	 	 	By:	 	Columbia Equity Trust, Inc., a Maryland
corporation, its general partner
	 
	 	 	 	 	 	 
	 

	 	 	 	By:
	 	/s/ Oliver T. Carr, III
	 

	 	 	 	 	 	 
	 	 	 	 	Name: Oliver T. Carr, III
	 	 	 	 	Title: Chairman and Chief Executive Officer

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