This Assignment and Assumption Agreement involves
Title: Assignment and Assumption of Agreement of Purchase and Sale
Assignment and Assumption of Agreement of Purchase and Sale
This Assignment and Assumption of Agreement of Purchase and Sale (“Assignment”) is entered into between Moody National REIT I, Inc., a Maryland corporation (“Assignor”), and Moody National REIT II, Inc., a Maryland corporation (“Assignee”), as of September 25, 2015 (“Effective Date”).
A. Pursuant to the terms of that certain Agreement of Purchase and Sale dated May 11, 2015 by and between Mueller Hospitality, LP, a Texas limited partnership (“Seller”), as seller, and Assignor, as buyer, as amended, modified and supplemented (the “Purchase Agreement”), Assignor agreed to acquire the Property (as such term is defined in the Purchase Agreement) located at 1200 Barbara Jordan Boulevard, Building 4 , Austin, Travis County, Texas.
B. Assignor desires to assign Assignor’s rights and interests in the Purchase Agreement to Assignee, and Assignee wishes to assume all of Assignors rights and interests in the Contract.
C. The Parties des