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Assignment And Assumption Of Agreement Of Purchase And Sale

Assignment and Assumption Agreement

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 This Assignment and Assumption Agreement involves

MOODY NATIONAL REIT II, INC. | Moody National Companies, LP | MOODY NATIONAL REIT II, INC | MOODY NATIONAL YALE-SEATTLE HOLDING, LLC | MOODY NATIONAL YALE-SEATTLE MT, LLC

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Title: ASSIGNMENT AND ASSUMPTION OF AGREEMENT OF PURCHASE AND SALE
Governing Law: Washington     Date: 5/26/2016
Industry: Real Estate Operations     Sector: Services

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Moody National REIT II, Inc. 8-K

 

Exhibit 10.2

 

ASSIGNMENT AND ASSUMPTION OF AGREEMENT OF PURCHASE AND SALE

 

THIS ASSIGNMENT AND ASSUMPTION OF AGREEMENT OF PURCHASE AND SALE (this “ Assignment ”), is made and entered into as of the 24th day of May, 2016, by and between MOODY NATIONAL REIT II, INC., a Maryland corporation (“ Assignor ”), Moody National YALE-SEaTTLE Holding, LLC , a Delaware limited liability company (“ Fee Owner ”) and MOODY NATIONAL YALE-SEaTTLE MT, LLC, a Delaware limited liability company (“ Master Tenant ”, Fee Owner and Master Tenant are collectively referred to herein as “ Assignee ”).

 

W I T N E S S E T H :

 

WHEREAS, Assignor, as successor-in-interest to Moody National Companies, L.P., entered into that certain Agreement of Purchase and Sale for the purchase and sale of the land and the improvements located at 1800 Yale Avenue, Seattle, Washington (“ Hotel Site ”) dated as of October 26, 2015 (as amended, modified and supplemented, the “ Agreement ”). Any terms not defined herein shall have the meaning as set forth in the Agreement.

 

WHEREAS, Assignor now wishes to assign all of its right, title and interest under the Agreement in and to the Property, excluding the Hotel Agreements (the “ Primary Property ”), to Fee Owner, and Fee Owner desires to assume and perform the obligations of Assignor as Purchaser under the Agreement, with respect to the Primary Property.

 

WHEREAS, Assignor now wishes to assign all of its right, title and interest as Purchaser under the Agreement in and to Hotel Agreements to Master Tenant, and Master Tenant desires to assume and perform the obligations of the Assignor as purchaser under the Agreement, with respect to the Hotel Agreements.

 

NOW, THE


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