This Assignment and Assumption Agreement involves
Title: ASSIGNMENT AND ASSUMPTION OF PURCHASE AGREEMENT
Governing Law: Georgia Date: 7/20/2016
Industry: Real Estate Operations Sector: Services
assignment AND ASSUMPTION of PURCHASE AGREEMENT
THIS ASSIGNMENT AND ASSUMPTION OF PURCHASE AGREEMENT (this “ Assignment ”) is entered into as of July 14, 2016 by and between CARROLL ACQUISITIONS, LLC , a Georgia limited liability company (“ Assignor ”), and BR CARROLL TENSIDE, LLC , a Delaware limited liability company (“ Assignee ”).
W I T N E S S E T H :
WHEREAS, Assignor and WATERTON TENSIDE OWNER, L.L.C., a Delaware limited liability company (“ Seller ”), entered into that certain Agreement of Purchase and Sale dated May 25, 2016 (the “ Agreement ”), with respect to that certain real property and related appurtenances commonly known as Tenside Apartments, and located in Atlanta, Georgia, all as more particularly described in the Agreement (the “ Property ”); and
WHEREAS, Assignor desires to assign all of Assignor’s right, title and interest in and to the Agreement to Assignee so that Assignee may acquire the Property;
NOW THEREFORE, in consideration of the foregoing recitals and other good and valuable consideration, the parties agree as follows:
1. Assignment . Effective as of the date hereof, Assignor hereby assigns, conveys, transfers and sets over to Assignee all of Assignor’s right, title and interest in, to and under the Agreement and Assignee shall succeed to all of Assignor's right, title and interests in, to and under the Agreement effective as of the date hereof, including, without limitation, the Earnest Money (as such term is defined in the Agreement) deposited by Assignor pursuant to the Agreement.