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Document Preview Agreement of Sale and Purchase [Amended and Restated] |
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Title: |
Agreement of Sale and Purchase [Amended and Restated] |
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Entities: |
American Financial Realty Trust; Jones Lang LaSalle Inc.; Bank of America, NA; Morgan, Lewis & Bockius; First States Group, L.P.; American Financial Realty Trust |
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Date: |
2003 |
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Size: |
Preview shows 7KB of 106KB total |
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Price: |
$49 |
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ID: |
#115975 |
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AMENDED AND RESTATED AGREEMENT OF SALE AND PURCHASE
BETWEEN
BANK OF AMERICA, N.A. ("SELLER")
AND
FIRST STATES GROUP, L.P. ("PURCHASER")
Dated: April 16, 2003
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
Page
{S} {C}
PRELIMINARY STATEMENT ............................................................. 1
1. DEFINED TERMS ..................................................................... 1
2. SALE AND PURCHASE OF PROPERTIES ................................................... 6
3. PROPERTIES - REAL AND PERSONAL ASSETS ............................................. 7
4. PURCHASE PRICE .................................................................... 8
5. MASTER LEASE AGREEMENT ............................................................ 8
6. CLOSING; CLOSING PROCEDURE ........................................................ 9
7. TITLE ............................................................................. 10
8. SERVICE AND MAINTENANCE CONTRACTS ................................................. 12
9. DOCUMENTS TO BE DELIVERED BY SELLER AT CLOSING .................................... 13
10. DOCUMENTS TO BE DELIVERED BY PURCHASER AT CLOSING ................................. 15
11. POSSESSION; RELEASE PREMISES ...................................................... 15
12. ADJUSTMENTS ....................................................................... 16
13. EXPENSES .......................................................................... 17
14. DEFAULT ........................................................................... 18
15. RISK OF LOSS ...................................................................... 19
16. BROKERS ........................................................................... 19
{/TABLE}
-i-
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
Page
{S} {C}
17. PROPERTIES "AS-IS." ............................................................... 20
18. DISCLAIMER ........................................................................ 20
19. DUE DILIGENCE PERIOD; PURCHASER'S ACCESS TO PROPERTIES ............................ 22
20. NOTICES AND ASSESSMENTS; TAX APPEALS .............................................. 26
21. NOTICES ........................................................................... 26
22. NO SURVIVAL ....................................................................... 27
23. FURTHER ASSURANCES ................................................................ 27
24. ESTOPPEL CERTIFICATES; SNDA ....................................................... 27
25. MISCELLANEOUS ..................................................................... 27
26. PURCHASER'S REPRESENTATIONS ....................................................... 29
27. SELLER'S REPRESENTATIONS .......................................................... 29
28. INDEMNIFICATION ................................................................... 30
29. MARKETING ......................................................................... 31
30. NO OFFER .......................................................................... 31
31. NO LIABILITY ...................................................................... 31
{/TABLE}
-ii-
{PAGE}
AMENDED AND RESTATED AGREEMENT OF SALE AND PURCHASE
THIS AMENDED AND RESTATED AGREEMENT OF SALE AND PURCHASE ("Agreement") is
made and entered into as of April 16, 2003, by and between BANK OF AMERICA,
N.A., a national banking association, having an address at 100 North Tryon
Street, Suite 5210, NC1-007-52-02, Charlotte, NC 28255 ("Seller"), and FIRST
STATES GROUP, L.P., a Delaware limited partnership, having an address at 1725
The Fairway, Jenkintown, Pennsylvania 19046 ("Purchaser"). Terms with initial
capital letters shall have the meanings assigned to such terms in Section 1.
BACKGROUND
A. Seller owns various Parcels, Buildings and Appurtenances more
particularly described on Exhibit A hereto (collectively, the "Properties" and,
individually, a "Property"), which Seller desires to sell, and Purchaser desires
to Purchase, on the terms and conditions herein provided.
B. Seller and Purchaser were parties to that certain Agreement of Sale
and Purchase dated February 14, 2003 (as amended, the "Prior Agreement")
relating to the certain of the Properties.
C. Seller and Purchaser desire to amend and restate the Prior Agreement
in its entirety to (i) amend and restate its terms and conditions and (ii) make
it applicable to the Properties.
NOW, THEREFORE, in consideration of the covenants and mutual promises
contained herein and other good and valuable consideration (the receipt and
sufficiency of which are hereby acknowledged), Seller and Purchaser, intending
to be legally bound hereby, agree to amend and restate the Prior Agreement in
its entirety, as follows:
1. Defined Terms. The following terms shall have the meanings set forth
below when used in this Agreement:
"Agreed Upon Percentage" shall mean, for each Property, the percentage
of the total Purchase Price assigned to such Property as agreed by
Seller and Purchaser and set forth on Exhibit B hereto. Each time a
Property is removed from this Agreement pursuant to the terms hereof,
the then remaining Agreed Upon Percentages shall be proportionately
reallocated over the then included Properties.
"Agreement" shall have the meaning given such term in the parties
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