SEC Contract Filing

Filing Date: 2016-05-25

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exh101purchaseandsaleagree.htm
<DESCRIPTION>EXHIBIT 10.1 PURCHASE AND SALE AGREEMENT
<TEXT>
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<div><a name="s5e838952e16e43a099e8cc07bf68025c"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:32px;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Exhibit 10.1</font></div><div style="line-height:120%;padding-bottom:32px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:32px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SEARS OUTLET STORES, L.L.C.</font></div><div style="line-height:120%;padding-bottom:32px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">AND</font></div><div style="line-height:120%;padding-bottom:32px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">LIT-ACQUISITIONS, L.L.C.</font></div><div style="line-height:120%;padding-bottom:32px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">AGREEMENT OF PURCHASE AND SALE</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">1980 West Avenue 140th</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">San Leandro, Alameda County, California</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><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;">DATED: May 19, 2016</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%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">THIS AGREEMENT (this &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Agreement&#8221;</font><font style="font-family:inherit;font-size:12pt;">) is made and entered into as of this 19th day of May, 2016 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Contract Date&#8221;</font><font style="font-family:inherit;font-size:12pt;">), by and between </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SEARS OUTLET STORE, L.L.C.</font><font style="font-family:inherit;font-size:12pt;">, a Delaware limited liability company (&#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Seller&#8221;</font><font style="font-family:inherit;font-size:12pt;">), and</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#32;LIT-ACQUISITIONS, L.L.C.</font><font style="font-family:inherit;font-size:12pt;">, a Delaware limited liability company</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:12pt;">(&#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Purchaser&#8221;</font><font style="font-family:inherit;font-size:12pt;">).</font></div><div style="line-height:120%;padding-left:48px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:inherit;font-size:10pt;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">SALE</font><font style="font-family:inherit;font-size:12pt;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Seller agrees to sell and convey to Purchaser, and Purchaser agrees to purchase from Seller, for the purchase price set forth below and on the terms and conditions set forth in this Agreement, the Project (as hereinafter defined), including that certain building (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Building&#8221;</font><font style="font-family:inherit;font-size:12pt;">), consisting of approximately 306,805 square feet and commonly known as 1980 West Avenue 140th in San Leandro, Alameda County, California. For purposes of this Agreement, the term, &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Project&#8221;</font><font style="font-family:inherit;font-size:12pt;">&#32;shall be deemed to mean, on a collective basis: (a) the parcel(s) of land described in </font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;text-decoration:underline;">Exhibit A</font><font style="font-family:inherit;font-size:12pt;">&#32;attached hereto (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Land&#8221;</font><font style="font-family:inherit;font-size:12pt;">), together with all rights, easements and interests appurtenant thereto including, but not limited to, any streets or other public ways adjacent to said Land and any water or mineral rights owned by, or leased to, Seller; (b) all improvements located on the Land, including