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Post Closing Agreement

 

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Title:

Post Closing Agreement

Entities:

Inland Western Retail Real Estate Trust Inc.

Date:

2004

Size:

Preview shows 3KB of 10KB total

Price:

$33

ID:

#250439

 

 

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                             POST CLOSING AGREEMENT


THIS POST CLOSING AGREEMENT (this Agreement@) is made and entered into as
of the 28th day of April, 2004, by and between INLAND WESTERN SAN ANTONIO
MILITARY DRIVE LIMITED PARTNERSHIP, an Illinois limited partnership
("Purchaser"), and XXL ONE, LTD., a Texas limited partnership ("Seller"), in
connection with the acquisition by Purchaser of that certain property commonly
known as Alison's Corner Shopping Center, San Antonio, Texas (the AProperty@).

WHEREAS, Purchaser is acquiring the Property from Seller (the
"Transaction").

WHEREAS, in order to proceed with and consummate such acquisition and as a
condition to closing the Transaction, Purchaser requires that Seller agree to
the obligations set forth below, which are to be performed after such closing.

NOW, THEREFORE, for good and valuable consideration including the mutual
promises contained herein, the parties hereto agree as follows:

1. WARRANTIES. Seller's right, title and interest in, to and under the
warranties set forth on Exhibit A attached hereto and made a part hereof
(individually, a "Warranty", and collectively, the "Warranties") were not
assigned to Purchaser at the closing of the Transaction because such Warranties
may not be assigned or transferred without the prior consent of the Warranty
issuer. From and after the date of this Agreement, Seller shall use its best
efforts to obtain the aforementioned consents (upon the receipt of which Seller
shall assign such Warranty to Purchaser) or have the Warranties reissued in the
name of Purchaser. Seller shall be responsible for the payment of any and all
fees and costs in connection with obtaining any such consents or the reissuance
of any of the Warranties. Seller shall, until the first to occur of (i) the
expiration of an applicable Warranty and (ii) the date that the applicable
Warranty is assigned to Purchaser (with any and all required consents) or
reissued in the name of Purchaser, cooperate with Purchaser, at no cost to
Seller, with respect to the enforcement of the terms and provisions of, and any
and all claims under, any Warranty.

2. FURTHER ASSURANCES. Seller and Purchaser agree to cooperate with each
other following the closing to confirm any matter and execute any document
reasonably required by the other party in furthering of the closing.

 

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