Exhibit 10.73
SECOND AMENDMENT OF
PURCHASE AND SALE CONTRACT
THIS SECOND AMENDMENT OF PURCHASE AND SALE CONTRACT(this “Amendment”) is entered into effective as of the 10th day of December, 2008 (the “Effective Date”), by and betweenCCIP LOFT, L.L.C.,, a Delaware limited liability company, having an address at 4582 South Ulster Street Parkway, Suite 1100, Denver, Colorado 80237 (“Seller”), andTEG LOFTS LLC, a North Carolina limited liability company, having a principal address at 3 College Road, Suite 203, Airmont, New York 10952 (“Purchaser”).
RECITALS
A. Seller and Purchaser entered into that certain Purchase and Sale Contract, dated as of October 28, 2008, as amended by that certain First Amendment of Purchase and Sale Contract dated November 26, 2008 (collectively, the “Contract”), regarding real property located in Wake County, North Carolina and more particularly described in the Contract.
B. Seller and Purchaser desire to make modifications to the Contract subject to the terms and conditions described below.
C. All capitalized terms not otherwise defined in this Amendment shall have the meanings ascribed to them in the Contract.
NOW THEREFORE, for valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, Seller and Purchaser agree as follows:
agreements
Stewart Title Guaranty Company, c/o Ms. Wendy Howell, 1980 Post Oak Boulevard, Suite 610, Houston, Texas 77056 (“Escrow Agent” or “Title Insurer”).
Stewart Title Guaranty Company
1980 Post Oak Boulevard, Suite 610
Houston, Texas 77056
Attention: Wendy Howell
Telephone: (713) 625-8161
Facsimile: (713) 552-1703
E-Mail: whowell@stewart.com
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IN WITNESS WHEREOF, Seller and Purchaser have entered into this Second Amendment as of the date first above stated.
Seller:
CCIP LOFT, L.L.C.,a Delaware limited liability company
By: CONSOLIDATED CAPITAL
INSTITUTIONAL PROPERTIES, a
California limited partnership, its member
By: CONCAP EQUITIES, INC., a
Delaware corporation, its general partner
By: /s/Brian J. Bornhorst
Name: Brian J. Bornhorst
Title: Vice President
Purchaser:
TEG LOFTS LLC,
a North Carolina limited liability company
By: /s/David Willner
David Willner, Managing Member