THIRD AMENDMENT TO AGREEMENT FOR PURCHASE AND SALE
Exhibit 10.5
THIRD AMENDMENT TO AGREEMENT FOR PURCHASE AND SALE
THIS THIRD AMENDMENT TO AGREEMENT FOR PURCHASE AND SALE (this “Amendment”) is made effective as of October 7, 2014 (the “Effective Date”), by and among the seller entities identified on the signature pages attached hereto (collectively, “Sellers”, or each, a “Seller”) and CubeSmart, L.P. (“Purchaser”).
RECITALS
A. Sellers and Purchaser entered into that certain Agreement for Purchase and Sale on August 25, 2014 (as amended by that certain First Amendment to Agreement for Purchase and Sale dated as of October 2, 2014 and that certain Second Amendment to Agreement for Purchase and Sale dated as of October 7, 2014, the “Agreement”) in connection with the purchase and sale of twenty-six (26) self-storage facilities, as more fully described therein.
▇. ▇▇▇▇▇▇▇ and Purchaser wish to amend the Agreement upon the terms and conditions contained herein.
AGREEMENT
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Sellers and Purchaser do hereby covenant and agree as follows:
1. Definitions. Capitalized terms which are used in this Amendment, but not defined in this Amendment, shall have the meanings ascribed to such terms as set forth in the Agreement.
2. Disapproval Date. Section 3(c) of the Agreement is hereby amended to provide that the Disapproval Date shall be Monday, October 13, 2014. The foregoing extension shall not affect the Group One Closing Date or the Group One Outside Closing Date, each of which shall remain as November 3, 2014.
3. Ratification. Except as expressly provided in this Amendment, all of the terms and provisions of the Agreement shall remain unaffected, unchanged and unimpaired by reason of this Amendment. The Agreement, as amended by this Amendment, is hereby ratified, confirmed and continued in full force and effect. In the event of any conflict or inconsistency between this Amendment and the Agreement, the terms of this Amendment shall govern and control.
4. Counterparts. This Amendment may be executed in counterparts, in which case all such counterparts taken together shall constitute one and the same instrument which is binding upon all parties hereto, notwithstanding that all of the parties are not signatories to the original or the same counterpart. Facsimile and PDF/Adobe Acrobat signatures shall be treated as original signatures.
[signatures on following pages]
IN WITNESS WHEREOF, the parties hereto have duly executed this Amendment as of the Effective Date.
PURCHASER:
By: CubeSmart, its general partner
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Senior Vice President, Chief Legal Officer & Secretary
SELLERS:
GROUP ONE SELLERS:
STORAGE PARTNERS OF SOUTH HARLEM, LLC
By: HSREP II Holding, LLC, a Delaware limited liability company
By: HSRE REIT II, a Maryland real estate investment trust, its
sole member
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Its: Trustee
WWP-HSRE SDO, LLC
WWP-HSRE ONTARIO GE, LLC
WWP-HSRE ONTARIO, LLC
By: HSRE-WWP I, LLC, a Delaware limited liability company
By: HSRE-WWP IA, LLC, a Delaware limited liability company
By: HSREP II Holding, LLC, a Delaware limited liability
company
By: HSRE REIT II, a Maryland real estate
investment trust, its sole member
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Its: Trustee
HSREP II STORAGE – BOLINGBROOK, LLC
HSREP II STORAGE – CANAL, LLC
HSREP II STORAGE – CHESTNUT, LLC
HSREP II STORAGE – COLTON, LLC
HSREP II STORAGE – COUNTRYSIDE, LLC
HSREP II STORAGE – EXETER, LLC
HSREP II STORAGE – FORSYTH, LLC
HSREP II STORAGE – GEORGESVILLE, LLC
HSREP II STORAGE – ▇▇▇▇▇▇▇▇▇, LLC
HSREP II STORAGE – ▇▇▇▇▇▇▇▇, LLC
HSREP II STORAGE – ▇▇▇▇▇, LLC
HSREP II STORAGE – POLARIS, LLC
HSREP II STORAGE – ▇▇▇▇▇▇▇, LLC
HSREP II STORAGE – ▇▇▇▇▇▇▇, LLC
HSREP II STORAGE – TWENTY FIFTH, LLC
HSREP II STORAGE – WAKEFIELD, LLC
HSREP II STORAGE – WAVERLY, LLC
HSREP II STORAGE – WESTERN, LLC
HSREP II STORAGE – WOONSOCKET, LLC
By: HSREP II Storage I, LLC, a Delaware limited liability company
By: HSREP II Storage Holding I, LLC, a Delaware limited
liability company
By: HSREP II Holding, LLC, a Delaware limited
liability company
By: HSRE REIT II, a Maryland real estate
investment trust, its sole member
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
Its: Trustee
GROUP TWO SELLERS:
STORAGE PARTNERS OF BLUE ISLAND, LLC
STORAGE PARTNERS OF MAYWOOD, LLC
STORAGE PARTNERS OF NORTH KEDZIE, LLC
STORAGE PARTNERS OF SOUTH CHICAGO, LLC
By: HSRE Chicago Self Storage Holding I, LLC, a Delaware
limited liability company
By: HSRE REIT I, a Maryland real estate investment
trust, its sole member
By: /s/ ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
Name: ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
Its: Trustee