SEC Contract Filing

Filing Date: 2015-12-04

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>firstamendmenttolenoxportf.htm
<DESCRIPTION>FIRST AMENDMENT TO LENOX PORTFOLIO PSA
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
 <!-- Document created using Wdesk 1 -->
 <!-- Copyright 2015 Workiva -->
 <title>Exhibit</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<a name="s7976ABB5EFCB7904122C25E2856F155C"></a><div></div><br><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT FOR THE LENOX VILLAGE PORTFOLIO </font></div><div style="line-height:120%;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">THIS FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT FOR THE LENOX VILLAGE PORTFOLIO (this &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">First Amendment</font><font style="font-family:inherit;font-size:12pt;">&#8221;) is made and entered into as of the 15th day of September, 2015 by and between </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">LENOX VILLAGE PROPERTIES, LLC</font><font style="font-family:inherit;font-size:12pt;">, a Tennessee limited liability company, </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">LENOX VILLAGE LIFESTYLE CENTER, LLC</font><font style="font-family:inherit;font-size:12pt;">, a Tennessee limited liability company, and </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">LENOX VILLAGE LIFESTYLE CENTER III, LLC</font><font style="font-family:inherit;font-size:12pt;">, a Tennessee limited liability company (collectively referred to herein as the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Seller</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">PREFERRED APARTMENT COMMUNITIES OPERATING PARTNERSHIP, L.P.,</font><font style="font-family:inherit;font-size:12pt;">&#32;a Delaware limited partnership (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Purchaser</font><font style="font-family:inherit;font-size:12pt;">&#8221;). </font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">RECITALS </font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:12pt;">, Seller and Purchaser entered into that certain Purchase and Sale Agreement For The Lenox Village Portfolio (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;) dated August 11, 2015, for three (3) separate properties more particularly described in Exhibit A of the Agreement and referred to herein as &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Lenox Village Town Center</font><font style="font-family:inherit;font-size:12pt;">&#8221;; the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Regent Building</font><font style="font-family:inherit;font-size:12pt;">&#8221;; and &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">LV III</font><font style="font-family:inherit;font-size:12pt;">&#8221; (each, a &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Property</font><font style="font-family:inherit;font-size:12pt;">&#8221; and collectively, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Properties</font><font style="font-family:inherit;font-size:12pt;">&#8221;); and</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">WHEREAS</font><font style="font-family:inherit;font-size:12pt;">, Seller and Purchaser now desire to amend and modify the Agreement as set forth below.</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">NOW, THEREFORE</font><font style="font-family:inherit;font-size:12pt;">, for and in consideration of the foregoing recitals and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Seller and Purchaser hereby agree as follows:</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96p