ASSIGNMENT AND ASSUMPTION OF RIGHTS UNDER SHOPPING CENTER PURCHASE AGREEMENT

Exhibit 10.47

ASSIGNMENT AND ASSUMPTION OF RIGHTS UNDER

SHOPPING CENTER PURCHASE AGREEMENT

For good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ GROUP LLC, an Ohio limited liability company (“Assignor”), hereby assigns, transfers and sets over to WESTIN STATION LLC (“Assignee”), all of Assignor’s right, title, and interest as Purchaser in and to that certain Shopping Center Purchase and Sale Agreement dated January 27, 2012 as same may have been or may be amended, including any addendum thereto (“Agreement”) with Westin Centre, LLC (“Seller”), as Seller, with respect to the land and improvements thereon located in Fayetteville, Cumberland County, North Carolina, more particularly described in the Agreement, including, but not limited to, its right, title and interest in and to the Deposit (as defined in the Agreement).

 

Dated: February 21, 2012		▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ GROUP, LLC,
		an Ohio limited liability company
		By:		▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ LIMITED PARTNERSHIP,
				a Delaware limited partnership, Managing Member
		By:		▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ & COMPANY, INC.,
				a Maryland corporation, General Partner
		By:		/s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
				▇▇▇▇▇▇ ▇. ▇▇▇▇▇, Chief Operating Officer and President

The undersigned, Assignee, hereby accepts the foregoing assignment and hereby assumes and agrees to perform all of Assignor’s obligations under the Agreement and hereby releases, indemnifies and holds Assignor harmless from any loss, cost, liability or expense which may be suffered by Assignor in connection with such Agreement, except for any such loss, cost, liability or expense resulting from the acts of Assignor in connection with the Agreement taken prior to the date of this Assignment without the applicable authorization or consent of the undersigned.

 

Dated: February 21, 2012		WESTIN STATION LLC, A Delaware limited liability company
		By:		/s/ R. ▇▇▇▇ ▇▇▇▇
				R. ▇▇▇▇ ▇▇▇▇, President