SEC Contract Filing

Filing Date: 2019-05-31

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>21
<FILENAME>ex_146102.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 10.1</b></font></p>

<p style="margin-bottom: 0px; text-align: left; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><b>REPRESENTATION AND WARRANTY INDEMNIFICATION AGREEMENT</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">This REPRESENTATION AND WARRANTY INDEMNIFICATION AGREEMENT (including all exhibits and schedules hereto, this &ldquo;<u>Agreement</u>&rdquo;) is made and entered into as of May 28, 2019, by and among <b>MEDAMERICA PROPERTIES</b><b> INC.</b>, a Delaware corporation (&ldquo;<u>MAMP</u>&rdquo;), and <b>BROAD STREET</b><b> OPERATING PARTNERSHIP, LP</b>, a Delaware limited partnership (the &ldquo;<u>Operating Partnership</u>&rdquo; and together with MAMP, the &ldquo;<u>MAMP Parties</u>&rdquo;), on the one hand, and each of Michael Z. Jacoby and Thomas M. Yockey (collectively, the &ldquo;<u>Indemnitors</u>&rdquo;), on the other hand. The MAMP Parties and the Indemnitors are each individually referred to herein as a &ldquo;<u>Party</u>&rdquo; and collectively as the &ldquo;<u>Parties</u>.&rdquo;</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;">RECITALS</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For purposes of this Agreement, all capitalized terms shall have the meanings given to such terms in <u>Exhibit A</u>, or as otherwise defined in this Agreement.</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Broad Street Ventures, LLC, a Maryland limited liability company (&ldquo;<u>BSV</u>&rdquo;), or its affiliate is (either alone or together with certain co-managers or co-managing members) the manager or the managing member of the limited liability companies set forth on <u>Exhibit </u><u>B</u> (collectively, the &ldquo;<u>BSV Entities</u>&rdquo;), each of which other limited liability companies, directly or indirectly, owns certain real property set forth opposite the name of such other limited liability companies on <u>Exhibit B</u> (collectively, the &ldquo;<u>BSV Properties</u>&rdquo;)</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Broad Street Realty, LLC, a Maryland limited liability company (&ldquo;<u>BSR</u>&rdquo;), serves as the property manager for each of the BSV Properties, other than the property known as Brookhill Azalea Shopping Center.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BSV, BSR, each of the BSV Entities and each of MAMP and its subsidiaries desire to combine the ownership of BSV, BSR and each of the BSV Entities through a series of merger transactions (such transactions, collectively, the &ldquo;<u>Transactions</u>&rdquo;) with MAMP or the Operating Partnership, as applicable, and certain of their respective subsidiaries pursuant to the agreements set forth on <u>Exhibit C</u> (the &ldquo;<u>Merger Agreements</u>&rdquo;), each of which has been entered into on the date hereof.</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">E.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each of the Indemnitors is a managing member of, and holds a 50.0% ownership interest in, each of BSV and BSR.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;text-indent:36pt;">F.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In order to induce the MAMP Parties to enter into and consummate the Transactions, the Indemnitors have agreed to provide certain indemnities with respect to the representations and warranties made by the applicable BSV Entity with respect to BSV, BSR, the other BSV Entities and the BSV Properties in the Merger Agreements.</p>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

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