Exhibit 10.24
CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THE EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. REDACTED INFORMATION IS INDICATED BY [****].
CONTRACT FOR SALE AND PURCHASE
THIS CONTRACT FOR SALE AND PURCHASE (hereinafter, the “Contract”) is entered into by and between CRISP39 – 4 LLC, a Florida limited liability company, and LHC14 Old DeLand LLC, a Delaware limited liability company (jointly and severally, collectively, “Seller”), and TLO 12 SunGate, LLC, a Delaware limited liability company (“Buyer”).
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(iii) outstanding oil, gas and mineral rights of record without the right of entry; (iv) unplatted public utility easements of record; (v) real property taxes on the Portfolio not yet due and payable; and (vi) the restrictions and matters appearing of record in the Public Records of the County which
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[****]
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As to Seller: | |
[****] | |
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With a copy to: | |
[****] | |
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And, with a copy to: | |
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[****] | |
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As to Buyer: | |
[****] | |
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With a copy to: | |
[****] | |
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Any party may change the address to where notices are required to be delivered hereunder by delivering notice in accordance with this Section. If any party represented by legal counsel, such legal counsel is authorized to give notice or make deliveries under this Contract directly to the other party on behalf of his or her client, and the same shall be deemed proper notice or delivery hereunder if given or made in the manner hereinabove specified.
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IN WITNESS WHEREOF, the parties have hereunto set their respective hands and seals the day and year written below their signatures hereto.
| “SELLER” |
| CRISP39 – 4 LLC, a Florida limited liability company By:Crisp39 SPV LLC, a Florida limited liability company, its sole member By: CTO TRS Crisp39 LLC, a Delaware limited liability company, its Manager By:CTO Realty Growth, Inc. (f/k/a Consolidated-Tomoka Land Co.), a Maryland corporation, its sole member By: /s/ Steven R. Greathouse Name: Steven R. Greathouse Title: Chief Investment Officer |
| LHC14 OLD DELAND LLC, a Delaware limited liability company By: /s/ Steven R. Greathouse Name: Steven R. Greathouse Title: Chief Investment Officer |
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| “BUYER” |
| TLO 12 SunGate, LLC, a Delaware limited liability company [****] |
| |
[Signatures continue on following page]
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ESCROW AGENT’S ACKNOWLEDGMENT
The undersigned hereby: (i) accepts the escrow created by the foregoing Contract; (ii) expressly acknowledges the obligations of Escrow Agent contained in the Contract; and (iii) agrees to act in accordance with the terms of the Contract as Escrow Agent.
| “ESCROW AGENT” [****] |
JOINDER
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CTO Realty Growth, Inc. hereby joins in this Contract for Sale and Purchase for the sole and limited purpose of guarantying the obligations of Seller to Buyer hereunder, but only to the extent that (a) the Closing occurs and (b) Seller expressly has liability to Buyer under this Agreement. From and after the Closing, such obligations of the undersigned and Seller under this Agreement shall be joint and several.
In witness whereof, the undersigned has executed this Joinder effective as of June 23, 2021.
CTO REALTY GROWTH, INC.,
a Maryland corporation
By: /s/ Steven R. Greathouse
Name: Steven R. Greathouse
Title: Chief Investment Officer
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EXHIBIT A
LEGAL DESCRIPTION
[****]
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EXHIBIT B
[INTENTIONALLY OMITTED]
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EXHIBIT C
[INTENTIONALLY OMITTED]
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EXHIBIT D
[****]
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EXHIBIT E
[****]
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