SEC Contract Filing

Filing Date: 2024-07-23

Document Content:
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<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>southlandhold_ex10-3.htm
<DESCRIPTION>EXHIBIT 10.3
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<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit 10.3</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SECOND AMENDMENT AND ASSIGNMENT AND ASSUMPTION</B><BR><B>OF </B><BR><B>REAL ESTATE PURCHASE AGREEMENT</B><BR><BR><B>(ALVARADO PROPERTY)</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">THIS SECOND AMENDMENT AND ASSIGNMENT AND ASSUMPTION OF REAL ESTATE PURCHASE AGREEMENT (this &ldquo;<B>Amendment and Assignment</B>&rdquo;) is made and entered into as of July&nbsp;17, 2024 (the &ldquo;<B>Effective Date</B>&rdquo;), by and among Southland Holdings, LLC, Texas limited liability company (&ldquo;<B>Seller/Assignor</B>&rdquo;), Southland RE Properties, LLC, a Texas limited liability company (&ldquo;<B>Southland Assignee</B>&rdquo;), Reksuh Acquisition, LLC, a Nebraska limited liability company (&ldquo;<B>Reksuh Assignor</B>&rdquo;), and GCP Southland, LLC, a Nebraska limited liability company (&ldquo;<B>GCP Assignee</B>&rdquo;).</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>RECITALS:</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS, Reksuh Assignor (as Purchaser) and Seller/Assignor are parties to that certain Real Estate Purchase Agreement dated as of May&nbsp;7, 2024, as amended by that certain First Amendment to Real Estate Purchase Agreement dated as of June&nbsp;6, 2024 (collectively, the &ldquo;<B>Purchase Agreement</B>&rdquo;), with respect to that certain real property referred to in the Purchase Agreement as the Alvarado Property, all as more particularly described in the Purchase Agreement.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS, the Purchase Agreement also includes real property located in Grapevine, Texas and Coraopolis, Pennsylvania which are owned by Seller/Assignor and an affiliate of Seller, respectively.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS, the Purchase Agreement requires the allocation of the Purchase Price for each property prior to the expiration of the Due Diligence Period.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS, Seller/Assignor desires to assign, transfer, sell and convey to Southland Assignee all of Seller/Assignor&rsquo;s right, title, and interest in, to and under the Purchase Agreement.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
Southland Assignee desires to accept Seller/Assignor&rsquo;s right, title, and interest in, to and under the Purchase Agreement.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS, Reksuh Assignor desires to assign, transfer, sell and convey to GCP Assignee all of Reksuh Assignor&rsquo;s right, title, and interest in, to and under the Purchase Agreement.</FONT></P>

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