SEC Contract Filing

Filing Date: 2022-09-30

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>tm2226648d1_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;10.1</B></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">THIS PURCHASE AGREEMENT (this
 &quot;Agreement&quot;) is made this 29<SUP>th</SUP> day of September, 2022 (the &quot;Effective Date&quot;), by and between <FONT STYLE="text-transform: uppercase">Limbach
company llc</FONT>, a Delaware limited liability company with an address of 926 Featherstone Street, Pontiac, Michigan 48342 (&quot;Seller&quot;),
and ROYAL OAK ACQUISITIONS LLC, a New York limited liability company with an address of 600 East Avenue, Suite&nbsp;200, Rochester, New
York 14607 (&quot;Buyer&quot;).</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, Seller is the fee
simple owner of certain real property and improvements located at 926 Featherstone Street in the City of Pontiac, County of Oakland and
State of Michigan, further identified as tax parcel identification numbers 14-27-126-014 and 14-27-126-015 and comprised of approximately
6.31+/- acres, together with all rights and appurtenances pertaining thereto (collectively referred to herein as the &quot;Premises&quot;),
which Premises is more fully described in Schedule &quot;A&quot; attached hereto and made a part hereof;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WHEREAS, Seller desires to sell
and Buyer desires to purchase, all of Seller&rsquo;s right, title and interest in and to the Premises; and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, Seller and Buyer
desire to enter into the Lease at the Closing (as such terms are defined below).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW THEREFORE, in consideration
of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are all hereby
acknowledged by each of the parties hereto, the parties, intending to be legally bound hereby, agree as follows:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">1.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Sale</U>.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">1.1</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">Seller
agrees to sell and convey to Buyer, and Buyer agrees to purchase from Seller, the Premises upon the terms and subject to the conditions
of this Agreement.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">1.2</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">The
Premises shall include all of the right, title and interest, if any, of Seller in and to the following:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt">1.2.1</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">All
buildings, improvements and structures located on the Premises, including, without limitation, that certain building containing approximately
74,843 square feet (collectively referred to herein as the &ldquo;Building&rdquo;);</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt">1.2.2</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">All
machinery, fixtures and equipment used in connection with the operation of the Premises</FONT> or <FONT STYLE="font-size: 10pt">permanently
affixed to the Building or the Premises, including, without limitation, any emergency generators located at the Premises (collectively,
the &ldquo;Personal Property&rdquo;), but such Personal Property expressly excludes (i)&nbsp;any removable personal property, inventory,
products, furniture, trade fixtures and equipment used in connec