SECOND AMENDMENT TO CONTRIBUTION AND SALE AGREEMENT
Exhibit 99.3
SECOND AMENDMENT TO CONTRIBUTION AND SALE AGREEMENT
This Second Amendment to Contribution and Sale Agreement (this “Amendment”), dated January 30,
2006, is made and entered by and among Royal Tallahassee Partnership, Royal Tallahassee Partnership
II Limited Partnership, Royal Tallahassee III Partnership, Royal Gainesville Limited Partnership,
Royal Orlando Limited Partnership, Royal Lexington Limited Partnership, Royal Tucson Entrada Real
Limited Partnership, Royal Texas-Tennessee Limited Partnership, Royal Texas-Tennessee II Limited
Partnership, Raiders Pass Phase II Limited Partnership, Royal San Marcos Limited Partnership and
Royal San Antonio Limited Partnership (collectively, the “Contributors”), on the one hand, and
American Campus Communities, Inc. (the “Company”) and American Campus Communities Operating
Partnership LP (the “Operating Partnership” and, together with the Company, the “Contributee”), on
the other hand.
WHEREAS, the Contributors and the Contributee have entered into a Contribution and Sale
Agreement, dated as of December 2, 2005 (as amended, the “Contribution Agreement”); and
WHEREAS, the Contributors and the Contributee desire to amend the Contribution Agreement as
set forth herein.
NOW, THEREFORE, the Contributors and the Contributee agree as follows:
1. Capitalized Terms. Capitalized terms used herein and not otherwise defined shall
have the meanings assigned to such terms in the Contribution Agreement.
2. Amendments to Certain Definitions. The following definitions in Article 1 of the
Contribution Agreement are hereby amended to read as follows:
“Closing Date” shall mean the date of the Closing, which shall occur on or before
23 days after the ▇▇▇▇▇▇▇ Money becomes non-refundable pursuant to Section
4.4.
“Inspection Period” shall mean the period beginning on the Effective Date and
ending 67 days after the Effective Date.
3. Property Information. Notwithstanding anything to the contrary contained in the
Contribution Agreement, it is agreed and understood that the Property Information and other
materials, data and information provided by the Contributors through the end of the Inspection
Period shall be deemed to have satisfied the requirements of Article 6 of the Contribution
Agreement, other than with respect to those items listed on Exhibit A hereto; provided
however that after the date of this Amendment, the Operating Partnership may continue to request,
and the Contributors will use best effort to provide, any additional information, data and
materials concerning or related to the Properties and/or the Contributors requested by the
Contributee.
4. Waiver. The Contributee, on the one hand, and the Contributors, on the other hand,
each waive any breach of the Contribution Agreement and any claim of breach, delay or extension, in
each case, related to or arising from the failure or the alleged failure of the other occurring on
or prior to the date of this Amendment to provide any Property Information or any other reports,
data, materials or other information within the time period(s) specified therefor (if any) in the
Contribution Agreement, it being agreed and understood that the extension of the Inspection Period
from 60 days to 67 days is the sole and exclusive right and remedy of the parties hereto.
5. Ratification. Except as otherwise expressly provided in this Amendment, the
Contribution Agreement is hereby ratified and confirmed and shall continue in full force and effect
in accordance with its terms.
6. Counterparts. This Amendment may be executed in identical counterparts, which when
taken together shall constitute one and the same instrument. A counterpart transmitted by
facsimile shall be deemed an original for all purposes.
[signature pages follow]
IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first above
written.
| AMERICAN CAMPUS COMMUNITIES, INC. | ||||||
| By: | ||||||
| Name: | ||||||
| Title: | ||||||
| AMERICAN CAMPUS COMMUNITIES | ||||||
| OPERATING PARTNERSHIP LP | ||||||
| By: American Campus Communities Holdings LLC, its general partner |
||||||
| By: | ||||||
| Name: | ||||||
| Title: | ||||||
| ROYAL TALLAHASSEE PARTNERSHIP | ||||||
| By: | ||||||
| General Partner | ||||||
| By: | Keeling Family Irrevocable Trust u/t/a | |||||
| dated 12/31/92 | ||||||
| General Partner | ||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, attorney in fact | ||||||
| By: | ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ | |||||
| General Partner | ||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, attorney in fact | ||||||
| By: | ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ | |||||
| General Partner | ||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, attorney in fact | ||||||
| By: | ▇▇▇▇▇▇ ▇. ▇▇▇▇▇ | |||||
| General Partner | ||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, attorney in fact | ||||||
| ROYAL TALLAHASSEE PARTNERSHIP II | ||||||
| LIMITED PARTNERSHIP | ||||||
| By: | ||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ | ||||||
| General Partner | ||||||
| By: | ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ | |||||
| General Partner | ||||||
| By: | ▇▇▇▇ ▇. ▇▇▇▇▇▇ | |||||
| General Partner | ||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, attorney in fact | ||||||
| By: | ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ | |||||
| General Partner | ||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, attorney in fact | ||||||
| ROYAL TALLAHASSEE III PARTNERSHIP | ||||||
| By: | ||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
General Partner |
||||||
| By: | Keeling Family Irrevocable Trust u/t/a dated | |||||
| 12/31/92 | ||||||
| General Partner | ||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, attorney in fact | ||||||
| By: | ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ | |||||
| General Partner | ||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, attorney in fact | ||||||
| By: | ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ | |||||
| General Partner | ||||||
| By: | ▇▇▇▇ ▇. ▇▇▇▇▇▇ | |||||
| General Partner | ||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, attorney in fact | ||||||
| ROYAL LEXINGTON LIMITED PARTNERSHIP | ||||||
| By: | Royal Lexington General Partnership, an | |||||
| Illinois general partnership, its general | ||||||
| partner | ||||||
| By: | ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ | |||||
| General Partner | ||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, attorney in fact | ||||||
| By: | ||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ | ||||||
| General Partner | ||||||
| By: | ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ | |||||
| General Partner | ||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, attorney in fact | ||||||
| By: | ▇▇▇▇ ▇. ▇▇▇▇▇▇ | |||||
| General Partner | ||||||
| fact | ||||||
| ROYAL GAINESVILLE LIMITED | ||||||
| PARTNERSHIP | ||||||
| By: | Gainesville Partners, an Illinois general | |||||
| partnership, its general partner | ||||||
| By: | ||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ | ||||||
| General Partner | ||||||
| By: | ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ | |||||
| General Partner | ||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, attorney in | ||||||
| fact | ||||||
| By: | ▇▇▇▇ ▇. ▇▇▇▇▇▇
General Partner |
|||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, attorney in fact | ||||||
| By: | ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ | |||||
| General Partner | ||||||
| fact | ||||||
| ROYAL ORLANDO LIMITED PARTNERSHIP | ||||||
| By: | Royal Orlando Northgate L.L.C., an Illinois | |||||
| limited liability company | ||||||
| By: | ||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ | ||||||
| Manager | ||||||
| By: | ||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ | ||||||
| Manager | ||||||
| By: | ||||||
| ▇▇▇▇ ▇. ▇▇▇▇▇▇ | ||||||
| Manager | ||||||
| ROYAL TUCSON ENTRADA REAL LIMITED | ||||||
| PARTNERSHIP (f/k/a Royal Tucson Limited | ||||||
| Partnership) | ||||||
| By: | Royal Tucson, L.L.C., an Illinois limited | |||||
| liability company, its general partner | ||||||
| By: | ||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ | ||||||
| Manager | ||||||
| By: | ||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ | ||||||
| Manager | ||||||
| ROYAL TEXAS – TENNESSEE LIMITED | ||||||||||||||
| PARTNERSHIP | ||||||||||||||
| By: | Royal Texas-Tennessee LLC, an Illinois limited liability company, its general partner |
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| By: | RSMH Texas-Tennessee LLC, an Illinois limited liability company, its manager |
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| By: | ||||||||||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ | ||||||||||||||
| Manager and Member | ||||||||||||||
| By: | ||||||||||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ | ||||||||||||||
| Manager and Member | ||||||||||||||
| RAIDERS PASS PHASE II LIMITED | ||||||||||||||
| PARTNERSHIP | ||||||||||||||
| By: | Raiders Pass Phase II LLC, an Illinois limited liability company, its general partner |
|||||||||||||
| By: | RSMH Raiders Pass Phase II LLC, an Illinois limited liability company, its manager |
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| By: | ||||||||||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ | ||||||||||||||
| Manager | ||||||||||||||
| By: | ||||||||||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ | ||||||||||||||
| Manager | ||||||||||||||
| ROYAL TEXAS – TENNESSEE II LP | ||||||||||||||
| By: | Royal Texas-Tennessee II LLC, an Illinois limited liability company, its general partner |
|||||||||||||
| By: | RSMH Texas-Tennessee II LLC, an Illinois limited liability company, its manager |
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| By: | ||||||||||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ | ||||||||||||||
| Manager and Member | ||||||||||||||
| By: | ||||||||||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ | ||||||||||||||
| Manager and Member | ||||||||||||||
| ROYAL SAN MARCOS L.P. | ||||||||||||||
| By: | Royal San Marcos LLC, an Illinois limited liability company |
|||||||||||||
| By: | RSMH San Marcos LLC, an Illinois limited liability company, its manager |
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| By: | ||||||||||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ | ||||||||||||||
| Manager and Member | ||||||||||||||
| By: | ||||||||||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ | ||||||||||||||
| Manager and Member | ||||||||||||||
| ROYAL SAN ANTONIO L.P. | ||||||||||||||||||
| By: | Royal San Antonio LLC, an Illinois limited liability company, its general partner |
|||||||||||||||||
| By: | RSMH San Antonio LLC, an Illinois limited liability company, its manager |
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| By: | ▇▇▇▇▇▇▇ Family Trust, its manager | |||||||||||||||||
| By: | ||||||||||||||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ | ||||||||||||||||||
| Trustee | ||||||||||||||||||
| By: | ▇▇▇▇▇▇▇▇ Family Trust, its manager | |||||||||||||||||
| By: | ||||||||||||||||||
| ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ | ||||||||||||||||||
| Trustee | ||||||||||||||||||