|
ASSIGNMENT AND ASSUMPTION OF SALE
AGREEMENT
AND ESCROW INSTRUCTIONS
THIS
ASSIGNMENT AND ASSUMPTION OF SALE AGREEMENT AND ESCROW
INSTRUCTIONS (this " Assignment ”) is
entered into as of November 20, 2007, by and between TRIPLE
NET PROPERTIES , LLC , a Virginia limited liability
company (“ Assignor ”), and NNN
HEALTHCARE/OFFICE REIT TUCSON MEDICAL OFFICE, LLC , a Delaware
limited liability company (“ Assignee ”),
with reference to the following Recitals:
R E C I T A L
S
A. Assignor, as “Buyer,” and 2001 W. Orange Grove
Road, LLC, an Arizona limited liability company, PVP Investments,
LLC, a Delaware limited liability company, WRM Investments, LLC, an
Arizona limited liability company, and EDI Baptist, LLC, an Arizona
limited liability company (collectively, “ Desert Life
Seller ”), and WRM Investments, LLC, an Arizona
limited liability company, and SOD Investments, LLC, an Arizona
limited liability company (collectively, " La Cholla
Seller ”), collectively, as “Seller,”
entered into that certain Sale Agreement and Escrow Instructions
dated October 19, 2007, as amended by (i) that certain
Amendment to Purchase Contract dated October 31, 2007, and
(ii) that certain Second Amendment to Sale Agreement and
Escrow Instructions dated November 2, 2007 (collectively, and
as may be further amended, the " Purchase Agreement
”) wherein Assignor agreed to purchase the “ Real
Property ” (as defined in the Purchase
Agreement).
B. To
facilitate a 1031 tax deferred exchange, La Cholla Seller conveyed
all of its right, title and interest in, to and under the Groun
|
