Exhibit 10.49
SECOND AMENDMENT TO PURCHASE AND SALE CONTRACT
THIS SECOND AMENDMENT TO PURCHASE AND SALE CONTRACT (this “Amendment”) is entered into this 18th day of October, 2013, by and between CCIP/2 HIGHCREST, L.L.C., a Delaware limited liability company (“Seller”), and HIGHCREST APARTMENTS, LLC, a Delaware limited liability company (“Buyer”).
R E C I T A L S
C. The parties desire to amend the Purchase Agreement by the terms and provisions contained herein.
AGREEMENT
NOW, THEREFORE, in consideration of the mutual covenants set forth herein, and for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Seller and Buyer agree as follows:
SELLER:
CCIP/2 HIGHCREST, L.L.C.,
a Delaware limited liability company
By: CONSOLIDATED CAPITAL INSTITUTIONAL PROPERTIES/2, LP SERIES A,
a Delaware limited partnership, its member
By: CONCAP EQUITIES, INC.,
a Delaware corporation,
its general partner
By: /s/Mark C. Reoch
Name: Mark C. Reoch
Title: Vice President, Transactions
PURCHASER:
Highcrest Apartments, LLC,
a Delaware limited liability company
By: Laramar Highcrest, LLC,
a Delaware limited liability company
By: Witz Partners VIII, LLC,
a Delaware limited liability company,
its manager
By: The Laramar Group, L.L.C.,
a Delaware limited liability company,
its manager
By: /s/Bennett Neuman
Name: Bennett Neuman