SEC Contract Filing

Filing Date: 2022-01-28

Document Content:
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<TYPE>EX-10.15
<SEQUENCE>6
<FILENAME>ex10-15.htm
<DESCRIPTION>EX-10.15
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<P STYLE="border-top: Black 2pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">EXBHIBIT 10.15</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>PURCHASE AND SALE AGREEMENT</U></B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>THIS THIRD AMENDMENT TO PURCHASE
AND SALE AGREEMENT</B> (this &ldquo;<B><U>Amendment</U></B>&rdquo;), is effective as of December 28, 2021 (the &ldquo;<U>Effective Date</U>&rdquo;),
by and among WestFREIT Corp., a Maryland corporation (&ldquo;<U>Westridge Owner</U>&rdquo;), Damascus Centre, LLC, a New Jersey limited
liability company (&ldquo;<U>Damascus Owner</U>&rdquo;), and Grande Rotunda, LLC, a Maryland limited liability company (&ldquo;<U>Rotunda
Owner</U>&rdquo;; each also individually &ldquo;<U>Seller</U>,&rdquo; and collectively, &ldquo;<U>Seller</U>&rdquo;); and MCB Acquisition
Company LLC, a Maryland limited liability company (&ldquo;<U>Purchaser</U>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>W I T N E S S E T H</U>:</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0.5in">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seller
and Purchaser entered into that certain Purchase and Sale Agreement dated November 22, 2021 (the &ldquo;<B><U>Original Agreement</U></B>&rdquo;),
as amended by the First Amendment to Purchase and Sale Agreement dated December 22, 2021 (the &ldquo;<B><U>First Amendment</U></B>&rdquo;),
and as further amended by the Second Amendment to Purchase and Sale Agreement dated as of December 23, 2021 (the <B><U>Second Amendment</U></B>&rdquo;,
and together with the Original Agreement and the First Amendment, the &ldquo;<B><U>Agreement</U></B>&rdquo;) for the purchase of three
(3) properties located in Maryland described in the Agreement as the Westridge Property, the Damascus Property and the Rotunda Property,
and as more particularly described in the Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0.5in">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The First Amendment
extended the Due Diligence Period to 6:00 P.M. Eastern Time on December 23, 2021, and the Second Amendment further extended the Due Diligence
Period to 3:00 P.M. Eastern Time on December 28, 2021.&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0.5in">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seller
and Purchaser have agreed to further amend the Agreement as set forth below in this Amendment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, in consideration
of the mutual covenants of Seller and Purchaser set forth below and for other good and valuable consideration, the receipt and sufficiency
of which the parties acknowledge, Seller and Purchaser agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Incorporation of Recitals</U>. The recitals set forth above are hereby incorporated into and made
a part of this Amendment.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Definitions</U>. Unless otherwise expressly provided herein, all capitalized terms not expressly
defined herein shall have the same meanings ascribed to such terms in the Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Amendment of Purchase Price</U>. Section 2.1(a) of the Agreement is hereby deleted in its entirety
and replaced with the following: </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 1in; text-align: justify; text-indent: 0.5in">&ldquo;2.1 <U>Purchase
Price</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 1in; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
purchase price for the Properties (the &ldquo;<U>Purchase Price</U>&rdquo;) shall be Two Hundred Forty-Eight Million Seven Hundred Fifty
Thousand Two Hundred Sixty Nine and 40/100 Dollars ($248,750,269.40) which shall be allocated among the Properties as follows:</P>

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