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Document Preview Assignment and Assumption of Leases |
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Title: |
Assignment and Assumption of Leases |
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Entities: |
Cedar Bay Realty Advisors, Inc.; Cedar Shopping Centers Inc.; Loyal Plaza Associates, LP; Loyal Plaza Venture, LP |
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Date: |
2002 |
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Size: |
Preview shows 2KB of 8KB total |
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Price: |
$40 |
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ID: |
#254817 |
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ASSIGNMENT AND ASSUMPTION OF LEASES
This Assignment and Assumption of Leases (this "Agreement") is dated as
of the 2nd day of July, 2002 (the "Effective Date"), but executed on the
date shown on the signature page, by and between Loyal Plaza Venture, L.P.,
having its principal place of business at c/o Glimcher Development Company, 20
South Third Street, Columbus, OH 43215 ("Assignor"), and Loyal Plaza Associates,
L.P. ("Purchaser"), a Delaware limited partnership, having offices at c/o Cedar
Bay Realty Advisors, Inc., 44 South Bayles Avenue, Port Washington, New York
11050 ("Assignee").
A. Assignor and Assignee have entered into an Agreement to Purchase
Real Estate dated January 7, 2002 (the "Purchase Agreement"), pursuant to which
Assignor has agreed to convey to Assignee that certain tract of land more
particularly described on Exhibit A attached hereto and made a part hereof,
together with any and all of the buildings and improvements located thereon and
appurtenant thereto and all the tenements, hereditaments, and appurtenances
thereto belonging or in any way appertaining (collectively, the "Property").
B. Assignor desires to assign and to transfer to Assignee all of
Assignor's right, title, and interest as lessor in, under, and to all of the
leases, licenses, and concession agreements affecting the Property, including
all amendments, modifications, and addenda thereto, and specifically including
the leases of those current tenants on the Property listed on the Exhibit "B"
attached hereto and made a part hereof (collectively, the "Leases"), and
Assignee desires to accept such assignment, subject to the terms and conditions
of this Agreement.
NOW, THEREFORE, for and in consideration of the sum of Ten and no/100
Dollars ($10.00) and other good and valuable consideration to Assignor in hand
paid by Assignee, the receipt and sufficiency of which are hereby acknowledged,
Assignor and Assignee, intending to be legally bound, do hereby agree as
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