SEC Contract Filing

Filing Date: 2016-02-24

Document Content:
<DOCUMENT>
<TYPE>EX-10.328
<SEQUENCE>72
<FILENAME>v432079_ex10-328.htm
<DESCRIPTION>EXHIBIT 10.328
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.328</B></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 144.15pt 0pt 144.95pt; text-align: center"><B>ASSIGNMENT AND ASSUMPTION
OF COMMERCIAL CONTRACT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 92.8pt 0pt 95.1pt; text-align: center"><FONT STYLE="font-size: 10pt"><I>(Metropolitan
</I>- <I>547 </I></FONT><I>&amp; <FONT STYLE="font-size: 10pt">553 NE 1<SUP>st</SUP> Ave., Fort Lauderdale, FL)</FONT></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.55pt 0pt 8pt; text-align: justify; text-indent: 35.9pt">This
Assignment and Assumption of Commercial Contract (this &quot;Agreement&quot;), dated as of December 18, 2015 (the &quot;Effective
Date&quot;), is made by and between ArchCo Residential LLC, a Delaware limited liability company (&quot;ArchCo&quot;), and BR ArchCo
Flagler Village, LLC, a Delaware limited liability company (&quot;BRAFV&quot;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 92.8pt 0pt 94.1pt; text-align: center"><U>Recitals</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 43.7pt">This Agreement is made with respect to the following
facts:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.85pt 0pt 7.05pt; text-align: justify; text-indent: 36.4pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.85pt 0pt 7.05pt; text-align: justify; text-indent: 36.4pt">A.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>ArchCo is the Purchaser under that certain Commercial Contract dated as of November 30, 2015 (the &quot;Original Agreement&quot;)
with Metropolitan Property Investment, LLC, a Georgia limited liability company, as Seller, with respect to with respect to the
real property located at 547 and 553 NE 1st Ave., Fo11Lauderdale, Florida (the &quot;Property&quot;), as more particularly described
on <U>Exhibit A</U> attached to this Agreement. All capitalized terms used but not otherwise defined in this Agreement shall have
the meaning for such terms set fo11h in the Purchase Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 7.3pt; text-align: justify; text-indent: 36.15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.55pt 0pt 7.3pt; text-align: justify; text-indent: 36.15pt">B.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>ArchCo desires to assign its rights and obligations under the Purchase Agreement to BRAFV and BRAFV desires to assume ArchCo's
rights and obligations under the Purchase Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 144.15pt 0pt 144.05pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 144.15pt 0pt 144.05pt; text-align: center"><U>Agreement</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7pt 0pt 6.8pt; text-align: justify; text-indent: 36.15pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7pt 0pt 6.8pt; text-align: justify; text-indent: 36.15pt">In consideration
of the premises and the mutual benefits to be derived from this Agreement and the respective covenants and representations, warranties,
agreements, indemnities and promises set forth below, the parties, intending to be legally bound, agree as follows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.9pt 0pt 6.8pt; text-align: justify; text-indent: 37.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.9pt 0pt 6.8pt; text-align: justify; text-indent: 37.1pt">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Assignment</U>. ArchCo irrevocably grants, bargains, sells, assigns and otherwise transfers and delivers to BRAFV and its successors
and assigns, all rights and obligations of Purchaser under the Purchase Agreement excluding only representations and warranties
made by Purchaser under the Purchase Agreement to the extent made as of the Agreement Date (the &quot;Assumed Rights and Obligations&quot;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.55pt 0pt 6.55pt; text-align: justify; text-indent: 35.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.55pt 0pt 6.55pt; text-align: justify; text-indent: 35.95pt">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Acceptance by BRAFV</U>. BRAFV accepts and assumes the Assu med Rights and Obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 7.55pt 0pt 6.55pt; text-align: justify; text-indent: 35.95pt">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Indemnification.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; marg