CONTRACT OF SALE

                             CORPORATE CENTER EAST I



Contract of Sale made as of the 4th day of June, 2001 between CEDAR INCOME FUND

PARTNERSHIP, L.P. formerly known as UNI-INVEST (U.S.A.) PARTNERSHIP, L.P., a

Delaware limited partnership with an address c/o Brentway Management LLC, 44

South Bayles Avenue, Port Washington, NY 11050 ("Seller") and CIP, LLC a limited

liability company with an address at 405 N. Hershey, Bloomington, IL.



                              W I T N E S S E T H:



         For and in consideration of the mutual covenants herein contained, the

parties hereto agree as follows:



1. Agreement to Sell. Seller agrees to sell to Purchaser, and Purchaser agrees

to buy from Seller all that certain lot, tract or parcel of land and premises,

together with all buildings and improvements thereon, located at 2205 E. Empire

Street, Bloomington, Illinois and more particularly described in Exhibit A

attached hereto (the "Premises").



2. Purchase Price. Purchaser agrees to pay to Seller, and Seller agrees to

accept as and for the purchase price for the Premises the sum of One Million

Eight Hundred Sixty Thousand Dollars ($1,860,000) which sum (the "Purchase

Price") shall be paid as follows:



         (a) Upon execution of this contract, Purchaser shall deliver a

         certified or bank check in the amount of $93,000 (the "Down Payment")

         to be held by Stuart Widowski, Esq. ("Escrow Agent"), in accordance

         with the terms of this Contract; and



         (b) Upon closing of title, the balance of the Purchase Price, subject

         to apportionments pursuant to Paragraph 12 hereof, shall be paid to

         Seller. All monies in excess of $500 payable under this Contract,

         unless otherwise agreed to by Seller, shall be paid by unendorsed

         certified check of Purchaser, or official check of any bank, savings

         bank, trust company or savings and loan association having a banking

         office in the State of New York or, at Seller's or Purchaser's

         election, by wire transfer to Seller's account.



3. Title to Premises. Purchaser acknowledges that the Premises are to be

conveyed subject to the following matters, which matters shall not be deemed to

be title defects rendering Seller's title to the Premises unmarketable:

{PAGE}



         (a) Zoning ordinances and other applicable governmental regulations and

requirements, provided same do not prohibit the maintenance of the existing use

of the Premises;



         (b) Retaining walls and other walls, bushes, trees, hedges, fences and

the like extending from or onto the Premises, and any portion of the Premises

lying in the bed of any public street;



         (c) Rights of the public and adjoining owners of highways, streets,

roads, and lanes bounding the Premises;



         (d) Rights of any utility companies of record;



         (e) Covenants, restrictions, and easements of record on the date

hereof, if any, provided same are not currently being violated;



         (f) The present physical condition of the Premises, and all

improvements thereon, and any changes that may result in such condition from

reasonable wear and tear and natural deterioration prior to the closing;



         (g) Liens for taxes, assessments, water charges and sewer rents not yet

due and payable, subject to adjustment as hereinafter set forth;



         (h) Such state of facts which an accurate survey would show, including

the location of the Premises in relation to any flood plain, provided same do

not prevent the use of the existing structures on the Premises;



         (i) Standard conditions and exceptions to title contained in the

standard form of Owner's Title Insurance Policy; and

Home        Intelligence        Services        Subscriptions        News        About Us

Contact Us       Terms of Use       Resend Documents       Shopping Cart

Copyright © 2008 The Consus Group LLC