Preview | Property Acquisition Services Agreement | Gen-Net Lease Income Trust, Inc.; Genesis Financial Group, Inc.

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Property Acquisition Services Agreement

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Title:

Property Acquisition Services Agreement

Entities:

Government Properties Trust Inc.; Gen-Net Lease Income Trust, Inc.; Genesis Financial Group, Inc.

Date:

2003

Size:

Preview shows 2KB of 7KB total

Price:

$32

ID:

#169449

► Services ► Services Agmt. ► Property Acquisition Services Agreements
► Real Estate

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                     PROPERTY ACQUISITION SERVICES AGREEMENT



         This Agreement, entered into as of September 30, 2003, by and between

Gen-Net Lease Income Trust, Inc., a Michigan corporation ("Gen-Net"), and

Genesis Financial Group, Inc., a Michigan corporation ("Genesis").



         WHEREAS, Gen-Net is a publicly registered real estate investment trust

that specializes in acquiring and holding government leased properties as well

as other single user properties net leased to credit-worthy tenants;



         WHEREAS, Gen-Net is actively engaged in raising capital to acquire

properties as described in its publicly registered prospectus(es) ("Qualified

Properties");



         WHEREAS, Gen-Net utilizes the services of property acquisition

specialists in order to identify Qualified Properties and to assist in

negotiating acceptable acquisition terms with potential sellers;



         WHEREAS, Genesis has approximately ten years of experience in acquiring

properties similar to the Qualified Properties and has developed close

relationships with developers and real estate brokers engaged in marketing such

properties;



         WHEREAS, the Gen-Net Board of Directors has unanimously determined that

it would considerably benefit Gen-Net's interests to engage Genesis as a

property acquisition agent in connection with its property acquisition program,

as to be described in the prospectus that will be part of a registration

statement of Gen-Net's successor to be filed with the Securities and Exchange

Commission (the "Secondary Offering"); and



         WHEREAS, Genesis has the knowledge, experience and resources to perform

these property acquisition services on behalf of Gen-Net.

End of Preview

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