400 N.W. LOOP 410, SAN ANTONIO, TEXAS
Purchase Price: $24,000,000
Anticipated Closing Date: August 3, 20__
Outside Closing Date: August 18, 20__
Buyer (“B”): Seller (“S”): Title Company/Escrow Company (“TC”):
Sequoia Partners, or its assignee Sequoia Properties LLLP Atlanta Title Insurance Company
Vail , Colo 94111 22 South Park Square, Suite 304 500 N. St. Marys, # 2000
Attn: I.M. Buyer Alpharetta, GA 39992 San Antonio, TX 78200
(T): (000) 591-9915 Attn.: L. Ted Prosser, Managing Partner
(F): (000) 693-9480 (T): (000) 252-0000 Attn: E. Mike Gunn, Commercial Escrow Manager
Email: firstname.lastname@example.org (000) 002-0000 Cell (T): (000) 482-3700
(F): (000) 252-5404 (F): (000) 482-3717
Attorneys for Buyer (“BC”): Email: email@example.com Email: gram@Actt.com
OUR Law Firm Ref: Escrow No. GF#0000000000000000
153 Any Street, Suite 800 Attorneys for Seller (“SC”): Commitment No.: 44-905-80-000000000000
San Francisco, CA 94107-1957
Attn: M.Y Lawyer Lender (“L”):
(T): (000) 615-6012 Seller Life Insurance Company
c/o Seller Investments, LLC
(F): (000) 659-7312 Van,& Morrison , P.A.
3075 Sandersville Road, Suite A
e-mail: 14 South Park Square, Suite 600 Asheville,, IL 90062
firstname.lastname@example.org Ashville, NC 28801
(T): (000) 258-0000 In-House Counsel:
(F): (000) 253-0000 Jo. Cruz, Esq.
Email: email@example.com Telephone: 000.402.7819
Sharon L. Look, Sr. Legal Asst.
Telephone: 000.000.0427 (David)
Outside Counsel (“LC”):
Bob. Green, Esq.
Bob Yellow, LLP
2200 Jefferson Avenue, Suite 3200
Asheville, , TX 00001
Email: bob@ law.com
Direct Dial: 000.000.8038
Date Item Status
June 12, 2006 Execution date of PSA –Effective Date Done
June 14, 2006 (w/in 2 days after the Effective Date) S to deliver or make available to Buyer due diligence
(Existing 2005) Title/Survey Documents; Received
Property Documents; DONE
Regulatory Approvals and Notices; DONE
Financial Documents; and DONE
Additional Due Diligence Items – any reasonably DONE
requested by Buyer.
June 15, 2006 (3 business days after the execution date) Deposit in the amount of $200,000 to be made by B Receipt on 6/15, via wire,
acknowledged by TC
July 3, 2006 (10 days prior to end of Due Diligence B to furnish form of Subordination Agreement (for leases) to S Furnished to S – 6/27
Period) NEED LIST FOR BB/AA
July 7, 2006 (10 business days after Buyer’s receipt of B to notify S in writing of: B notified – 7/7, no Declarant
Title Report, Title Documents and Survey. “Survey” = Title objections; and Estoppels necessary.
updated Survey, which was received on 6/22)
Request for any certificates or estoppels from
declarant(s) under any CC&Rs, or from other parties to Where are we with Survey and
similar arrangements (the “Declarant Estoppels”) title Objections??
(S has 5 days – calendar days- to respond)
July 12, 2006 1st Amendment extending Due Diligence Period Executed
July 19, 2006 (extended per 1st Amendment) Expiration of Due Diligence Period 2nd Amendment executed –
5pm PDT B must deliver notice to continue before expiration of notice of continuance delivered,
Due Diligence Period no contracts to be assumed.
Schedule of Assumed Contracts
July 20, 2006 (1 business day after Due Diligence B to deposit additional $200,000
August 3, 2006 (15 days after the Expiration of Due Buyer to use good faith reasonable efforts to cause closing to