SEC Contract Filing

Filing Date: 2017-03-13

Document Content:
<DOCUMENT>
<TYPE>EX-10.21
<SEQUENCE>4
<FILENAME>afin12312016ex1021.htm
<DESCRIPTION>SECOND AMENDMENT TO AGREEMENT FOR PURCHASE AND SALE OF REAL PROPERTY
<TEXT>
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<div><a name="se90c2a47a6a242cba79a4af1be5793d0"></a></div><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 10.21</font></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%;padding-top:1px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SECOND AMENDMENT TO AGREEMENT <br>FOR PURCHASE AND SALE OF REAL PROPERTY</font></div><div style="line-height:120%;padding-top:18px;text-align:justify;text-indent:53px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">THIS SECOND AMENDMENT TO AGREEMENT FOR PURCHASE AND SALE OF REAL PROPERTY (this </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">"Amendment")</font><font style="font-family:inherit;font-size:12pt;">&#32;is made to be effective as of November 18, 2016, by and between ARC DB5PROP001, LLC, a Delaware limited liability company and, its sole member, AMERICAN FINANCE OPERATING PARTNERSHIP, L.P., a Delaware limited partnership (collectively </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">"Seller"),</font><font style="font-family:inherit;font-size:12pt;">&#32;and CAPITAL COMMERCIAL INVESTMENTS, INC., a Texas corporation ("Buyer"), (Seller and Buyer sometimes collectively referred to herein as the </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">"Parties").</font></div><div style="line-height:120%;padding-top:20px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Recitals</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:18px;padding-top:17px;text-align:justify;text-indent:53px;"><font style="padding-bottom:18px;padding-top:17px;text-align:justify;font-family:inherit;font-size:12pt;padding-right:46px;">A.</font><font style="font-family:inherit;font-size:12pt;">The Parties entered into that certain Agreement for Purchase and Sale of Real Property (the </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">"Original Agreement"),</font><font style="font-family:inherit;font-size:12pt;">&#32;with an effective date of October 11, 2016, pursuant to which Buyer agreed to purchase from Seller the real property located at 1300, 1350, and 1400 American Boulevard, Hopewell Township, NJ, such real property being more particularly described therein (the </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">"Property").</font><font style="font-family:inherit;font-size:12pt;">&#32;The Original Agreement was amended by First Amendment to Agreement for Purchase and Sale of Real Property dated November 10, 2016 (the </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">"First Amendment").</font><font style="font-family:inherit;font-size:12pt;">&#32;The Original Agreement, as amended by the First Amendment, is hereinafter referred to as the </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">"Agreement".</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:18px;text-align:justify;text-indent:53px;"><font style="padding-bottom:18px;text-align:justify;font-family:inherit;font-size:12pt;padding-right:46px;">B.</font><font style="font-family:inherit;font-size:12pt;">Seller and Buyer desire to further amend the Agreement as hereinafter set forth. </font></div><div style="line-height:120%;text-align:left;padding-left:273px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Amendment</font></div><div style="line-height:120%;padding-top:18px;text-align:justify;text-indent:53px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">For and in consideration of the premises and the mutual covenants and agreements hereinafter made, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby amend the Agreement as follows:</font></div><div style="line-height:120%;padding-left:0px;padding-top:18px;text-align:justify;text-indent:53px;"><font style="padding-top:18px;text-align:justify;font-family:inherit;font-size:12pt;padding-right:42px;">1.</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Due Diligence Period.</font><font style="font-family:inherit;font-size:12pt;">&#32;Seller and Buyer agree the Due Diligence Period and Buyer's <br>right to terminate referenced in Section 6(b) of the Agreement is hereby amended to be 5:00 p.m. Central Standard Time on Wednesday, November 23, 2016. Buyer agrees as of the effective date of this Amendment, Buyer's right to terminate under </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 6(b)</font><font style="font-family:inherit;font-size:12pt;">&#32;of the Agreement is limited to Buyer resolving its parking issues related to the Property. Except for resolution of the parking issues, Buyer acknowledges it is satisfied with the physical condition of the Property.</font></div><div style="line-height:120%;padding-left:0px;padding-top:18px;text-align:justify;text-indent:53px;"><font style="padding-top:18px;text-align:justify;font-family:inherit;font-size:12pt;padding-right:42px;">2.</font><font style="font-family:inherit;font-size:12