EXHIBIT 2.4
PURCHASE AND SALE AGREEMENT
BURGER KING RESTAURANT
FORT WORTH, TEXAS
PURCHASE AND SALE AGREEMENT
This PURCHASE AND SALE AGREEMENT ("Agreement") is entered into as of May
______, 1996, by and between ▇▇▇▇▇ ▇▇▇▇▇▇▇ ("Seller"), and U. S. RESTAURANT
PROPERTIES OPERATING L. P., a Delaware limited partnership ("Buyer"), and its
assigns.
W I T N E S S E T H:
In consideration of the mutual covenants set forth herein, Seller and
Buyer agree as follows:
1. CONVEYANCE OF PROPERTY. On the terms and subject to the conditions
set forth in this Agreement, at Closing, as hereinafter defined, Seller shall
sell, convey and assign to Buyer, and Buyer shall buy and accept from Seller,
subject to the Permitted Encumbrances, as hereinafter defined, the property (the
"Property") designated on SCHEDULE 1 hereto, including the following:
(a) Good and indefeasible title in fee simple to the land (the
"Land"), located at ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ on which a Burger
King restaurant is located, together with all rights and interests appurtenant
thereto, including Seller's right, title, and interest in and to all adjacent
streets, alleys, rights-of-way and any adjacent strips or gores of real estate;
and buildings, structures and other improvements located on the Land
("Improvements");
(b) all of Seller's interest in the leases demising space in the
Improvements ("Lease") and the security deposits ("Deposits") made by tenant
("Tenant") holding under the Lease;
(c) to the extent assignable, all of Seller's interest in all
agreements (other than the agreements described elsewhere in this Section 1)
that relate to the ownership, maintenance and operation of the Property
("Property Agreements") which Buyer agrees in writing to assume; and
(d) to the extent in Seller's possession and assignable, any and all
(i) plans, drawings, specifications, surveys, and other technical descriptions
("Plans"), (ii) warranties ("Warranties"), (iii) licenses or permits
("Licenses"), and (iv) telephone exchanges, trade names and marks, and other
identifying material pertaining to the Land and Improvements ("Intangible
Personal Property").
2. ▇▇▇▇▇▇▇ MONEY. Within three (3) business days of the date both Buyer
and Seller execute and deliver this Agreement, Buyer shall deliver to
Commonwealth Land Title, Attn: ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇,
▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇ ("Title Company") $50.00 ("Non-Refundable
▇▇▇▇▇▇▇ Money") in consideration for this Agreement and the Inspection Period,
as hereinafter defined. The Title Company shall immediately deliver the Non-
Refundable ▇▇▇▇▇▇▇ Money to Seller and the Non-Refundable ▇▇▇▇▇▇▇ Money shall be
retained by Seller in all events. In addition, the Buyer shall deposit
$5,000.00 with Title Company (the "▇▇▇▇▇▇▇ Money"). The ▇▇▇▇▇▇▇ Money shall be
deposited in escrow or trust accounts that are interest-bearing, readily
available, liquid and federally insured to the full extent of the ▇▇▇▇▇▇▇ Money
deposited therein so that no portion of the
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▇▇▇▇▇▇▇ Money shall ever be at risk. The ▇▇▇▇▇▇▇ Money shall include any
interest earned thereon. Title Company shall deliver the ▇▇▇▇▇▇▇ Money only
in accordance with this Agreement.
3. PURCHASE PRICE.
(a) The purchase price for the Property shall be $600,000.00 (the
"Purchase Price"), payable by delivery by Buyer of 25,000 units of limited
partnership (the "Units") of U. S. Restaurant Properties Master L. P., a
Delaware limited partnership (the "Partnership"). The Units will not be
registered under U. S. securities laws and Seller will be restricted from
selling or transferring the Units during the two (2) year period following the
Closing Date. For purposes of determining the credit against the Purchase Price
for Units delivered hereunder, each Unit shall be valued at $24.00, which
valuation shall not be affected by any change in the market price of the Units
between the contract date and Closing. The Purchase Price shall be paid to the
Title Company and distributed by the Title Company as designated by Seller. The
Purchase Price shall be credited by the ▇▇▇▇▇▇▇ Money (and any interest earned
thereon) to the extent delivered to Seller and shall be adjusted as described in
this Agreement.
(b) No proration shall be made of real estate and personal property
taxes, utility charges and maintenance expenses, since these expenses are
obligations of the Tenant pursuant to the Lease. Base Rent pursuant to the
Lease shall be prorated as of 11:59 o'clock p.m. on the Closing Date.
4. DELIVERY OF DOCUMENTS BY SELLER. On or before the date which is seven
(7) days following the date hereof, Seller shall deliver to Buyer the following
documents ("Documents"):
(a) All current and historical sales information provided to Seller
by the Tenant under the Lease and all balance sheets and financial information
of Tenant (the "Financial Statements");
(b) Payment history of Tenant under the Lease for the prior two (2)
years;
(c) Commitment for title insurance covering the fee estates in the
Land and the Improvements ("Title Commitment") from the Title Company, setting
forth the status of the title of the Land and the Improvements, showing all
matters of record affecting the Land and the Improvements, together with a true,
complete, and legible copy of all documents referred to in the Title Commitment;
(d) Current "as-built" survey ("Survey") listing all easements and
encroachments affecting the Property, parking spaces (including handicapped
designation), containing a flood plain certification, in form and content
satisfactory to Buyer and the Title Company;
(e) Current Phase I Environmental Report for the Property (the
"Report"); and
(f) copies of any (i) Warranties, (ii) Licenses, (iii) certificates
of occupancy for the Improvements, (iv) Plans, (v) Property Agreements, (vi)
engineering studies, but only to the extent in
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Seller's possession or obtainable by Seller without undue expense. In addition,
Seller shall prepare and deliver to Buyer an inventory of any personal property
("Personal Property") to be conveyed to Buyer.
5. RIGHT OF ENTRY AND INSPECTION.
(a) From the date hereof to the Closing Date, Seller shall afford
Buyer and its representatives a continuing right to inspect, at reasonable
hours, the Property, Documents, and all other documents or data pertaining to
the Property. Buyer shall indemnify and hold Seller harmless from and against
any loss, claim or liability arising or resulting from the inspections made by
Buyer. If Buyer, in its sole and absolute discretion is not satisfied with the
physical condition of the Improvements, any matter in the Documents, or any
matter in the information available to Buyer concerning the Property, Buyer may
terminate this Agreement in accordance with Section 14, by delivering written
notice to Seller prior to 5:00 o'clock p. m. on the date that is thirty (30)
days after the last to be delivered of any of the Documents referenced in
Sections 4(a) through 4(e) hereof (such period, the "Inspection Period").
(b) Buyer's failure to terminate this Agreement by delivering the
notice by the time called for in Section 5(a) shall terminate Buyer's right to
terminate this Agreement under that Section.
6. TITLE. Buyer shall have the right, at any time during the Inspection
Period, to object in writing to any matters reflected by the Survey or the Title
Commitment. All matters to which Buyer objects are "Non-Permitted
Encumbrances". All matters to which such objection is not made are "Permitted
Encumbrances". Seller, at its sole cost and expense, shall have the right, but
not the obligation, to cure or remove all Non-Permitted Encumbrances within ten
(10) days following the expiration of the Inspection Period. If Seller does not
cause all of the Non-Permitted Encumbrances to be removed or cured within the
above described ten (10) day period, then Buyer shall have the right, as its
sole and exclusive remedies, either (i) to terminate this Agreement in
accordance with Section 14 by delivering notice to Seller within two (2) days
after the expiration of the above described ten (10) day period, or (ii) to
elect to purchase the Property subject to the Non-Permitted Encumbrances without
any reduction in the Purchase Price. Buyer's failure to deliver the foregoing
notice of termination shall be deemed Buyer's waiver of such Non-Permitted
Encumbrances and a waiver of such right to terminate.
7. REPRESENTATIONS AND WARRANTIES. Seller hereby represents and warrants
to, and covenants with, Buyer that:
(a) Seller has the full right, power, and authority to execute,
deliver, and perform this Agreement, and this Agreement, when executed and
delivered by Seller and Buyer, shall constitute the valid and binding agreement
of Seller, and shall be enforceable against Seller in accordance with its terms.
(b) All requisite action on the part of Seller has been taken by
Seller in connection with making and entering into this Agreement and the
consummation of the purchase and sale provided for herein.
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(c) No attachments, execution proceedings, assignments for the
benefit of creditors, insolvency, bankruptcy, reorganization or other
proceedings are pending or, to the best of Seller's knowledge, threatened
against Seller, which would materially adversely affect the ability of Seller to
consummate the transactions contemplated by this Agreement.
(d) Seller has not received any written notice from appropriate
governmental authorities that the Property is in violation of any applicable
laws.
(e) Seller has not received any written notices from any insurance
company, board of fire underwriters or similar organization regarding any
defects in the Property.
(f) Seller has no knowledge of any litigation, or possible
litigation, or of claims of violations or noncompliance with applicable laws and
regulations affecting the Property, including regulations of the Environmental
Protection Agency and any state regulatory body concerning the disposal of
grease, hazardous waste, petroleum, any underground storage tanks or any other
hazardous materials, or regulations of the Americans Disability Act providing
for access to the premises, dining areas and bathroom areas of the Property
("Applicable Laws").
(g) Seller has no contracts of any kind, such as for waste disposal,
termite protection, cleaning services, or paper supplies which will survive the
Closing Date.
(h) To the best of Seller's knowledge, the Financial Statements are
and will be true, correct, accurate and complete and will not omit to state any
fact or condition, the omission of which makes such statements misleading.
(i) Seller has received no written notice of taking, condemnation,
betterment or assessment, actual or proposed, with respect to the Property.
(j) All structures and Improvements upon the Property have been
constructed and installed in full compliance with the Plans and with all
applicable laws, statutes, ordinances, codes, covenants, conditions and
restrictions of any kind or nature affecting the Land or Improvements.
(k) No portion of the Property lies within any 100-year flood plain.
(l) Except for the Permitted Encumbrances, Seller owns the Property
free and clear of all liens, restrictions, charges and encumbrances. From the
date hereof until the Closing Date or earlier termination of this Agreement,
Seller will not sell or assign any of the Property or create or permit to exist
any liens (other than Permitted Encumbrances), encumbrances or charges thereon
without discharging the same prior to the Closing Date.
(m) Seller has no information or actual knowledge of any proposed
change in any of the Applicable Laws or any judicial or administrative action or
any action by adjacent land owners or
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any facts or conditions relating to the Property which would materially and
adversely affect, prevent or limit the use of such Property as a restaurant.
(n) All Licenses and occupancy certificates necessary for the
operation and occupancy of the Property, including, but not limited to, all
building and use permits, have been obtained for all operations to date and
shall be maintained through Closing.
(o) The Lease is in full force and effect, and Seller has no
knowledge of any event which would constitute a default or an event of default
either by Seller or Tenant under the Lease.
(p) From and after the date hereof, and until the Closing or earlier
termination of this Agreement, Seller shall not take any action, or omit to take
any action, which action or omission would have the effect of violating any of
the representations and warranties of Seller contained in this Agreement.
All representations and warranties made in this Agreement shall be
deemed to be made on the date hereof and again on the Closing Date. It shall be
a condition of Buyer's obligation to close that all warranties and
representations made hereunder are true on the Closing Date. All such
representations and warranties shall survive the Closing for a period of one
year and shall not be deemed to have merged into and be governed by the Closing
Documents. If Buyer discovers prior to Closing, that any representation or
warranty made in this Agreement is not true, then Buyer shall have the right, as
its sole and exclusive remedies, to either (i) terminate this Agreement in
accordance with Section 14 by delivering notice to Seller prior to the Closing
Date, or (ii) elect to purchase the Property subject to such untrue warranty or
representation without any reduction in the Purchase Price. If Buyer discovers
after Closing that any representation or warranty made in this Agreement is not
true, Buyer shall be entitled to exercise any and all rights and remedies
available at law or in equity as a result of any breach of any of such
representations or warranties, provided as a condition to Buyer's right to do
so, Buyer must deliver written notice of such breach to Seller within one (1)
year after the Closing Date and Buyer must exercise such remedies including the
filing of any suit or other action within two (2) years after the Closing Date,
based on a breach thereof of which Buyer gave Seller such notice within such one
(1) year period after the Closing Date.
8. CLOSING. The closing ("Closing") of the sale of the Property by
Seller to Buyer shall occur on the date seven (7) days following the last day
of the Inspection Period, or at such earlier date agreed to by Seller and
Buyer in writing (the date such Closing occurs is hereinafter referred to as
the "Closing Date"). Closing shall occur in the offices of the Title
Company, located at ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇, or
at another place and or time as mutually agreed upon by Seller and Buyer,
commencing at 10:00 o'clock a.m. on the Closing Date. At Closing:
(a) Buyer shall deliver to Seller (i) the Purchase Price in
accordance with Section 3; and (ii) evidence satisfactory to Seller and the
Title Company that the person executing documents on behalf of Buyer has full
right, power and authority to do so.
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(b) Seller shall deliver or cause to be delivered to Buyer the
following ("Closing Documents"):
(i) Special Warranty Deed in the form of EXHIBIT B, conveying to
Buyer the Land and Improvements subject to the Permitted Encumbrances;
General Assignment in the form of EXHIBIT C; ▇▇▇▇ of Sale in the form of
EXHIBIT D; and IRC Section 1445 Certification in the form of EXHIBIT E;
Assignment and Assumption of Lease Agreement, in the form of EXHIBIT F;
original Estoppel Certificate in the form of EXHIBIT I; all fully executed,
sworn to, and acknowledged, as appropriate, by Seller;
(ii) Evidence satisfactory to Buyer and Title Company that the
person or persons executing the Closing Documents on behalf of Seller have
full right, power and authority to do so;
(iii) The originals (to the extent in Seller's possession) of
the Lease, all Property Agreements, Warranties, Licenses and Plans; and
(iv) An Investment Letter substantially in the form of EXHIBIT H,
hereto.
(c) Seller shall be responsible for the costs of obtaining the Title
Commitment, the Owner Policy of Title Insurance for the Property, and survey
costs (the "Closing Costs"). Buyer shall pay for the Reports and all recording
fees. Buyer and Seller shall share any escrow fees of the Title Company.
(d) Each of Seller and Buyer shall pay its own legal fees incurred in
connection with this Agreement; provided, however, that if a suit is filed by
Buyer or Seller alleging a breach hereof or default hereunder, the non-
prevailing party shall pay all reasonable legal fees of the prevailing party
resulting from such suit.
(e) Seller shall deliver to Buyer possession of the Property.
9. OPERATION OF PROPERTY. From the date hereof until Closing, Seller
warrants that it shall maintain and operate the Property in a manner consistent
with its past maintenance and operation.
10. NOTICES. Any notice provided or permitted to be given under this
Agreement must be in writing and may be served by depositing same in the United
States mail, addressed to the party to be notified, postage prepaid and
certified, with return receipt requested, by delivering the same in person to
such party, or by delivering the same by confirmed facsimile. Notice given in
accordance herewith shall be effective upon the earlier of receipt at the
address of the addressee or on the second (2nd) day following deposit of same in
the United States mail as provided for herein, regardless of whether same is
actually received. For purposes of notice, the addresses of the parties shall
be as follows:
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If to Buyer, to: U. S. Restaurant Properties, Inc.
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▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇
Attention: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
With copy to: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, Esq.
Middleberg ▇▇▇▇▇▇ & Gianna
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▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇
If to Seller, to: ▇▇. ▇▇▇▇▇ ▇▇▇▇▇▇▇
P. O. Box 121697
▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇
Either party may change its address for notice by giving ten (10) days prior
written notice thereof to the other party.
11. BROKERAGE COMMISSIONS. Buyer shall defend, indemnify, and hold
harmless Seller from any claim by any party claiming under Buyer for any
brokerage, commission, finder's, or other fees relative to this Agreement or the
sale of the Property, and any court costs, attorneys' fees, or other costs or
expenses arising therefrom and alleged to be due by authorization of Buyer.
Seller shall defend, indemnify and hold harmless Buyer from any claim by any
party claiming under Seller for any brokerage, commission, finder's, or other
fees relative to this Agreement or the sale of the Property, and any court
costs, attorneys' fees, or other costs or expenses arising therefrom and alleged
to be due by authorization of Seller.
12. ASSIGNS. This Agreement shall inure to the benefit of and be binding
on the parties hereto and their respective heirs, legal representatives,
successors and assigns. This Agreement may be assigned by Buyer without the
consent of Seller by delivery of written notice of assignment to Seller.
13. DESTRUCTION, DAMAGE OR TAKING BEFORE CLOSING. In the event of damage
to or destruction of all or any portion of the Property by fire or other
casualty, Seller shall promptly notify Buyer. If Seller reasonably estimates
that $50,000.00 or less is required to be expended to repair or restore the
damaged or destroyed Property or portion thereof ("Repair Cost"), this Agreement
shall remain in full force and effect, and Seller shall, at its option, either
(i) repair such damage or destruction, or, if such damage or destruction has not
been repaired prior to Closing, (ii) require Buyer to take title to the
Property, assign to Buyer all available casualty insurance proceeds and
indemnify Buyer (in form and content satisfactory to Buyer) for all costs and
expenses of repair in excess of available insurance proceeds. If Seller
reasonably estimates that the Repair Cost exceeds $50,000.00, Buyer shall have,
as its sole and exclusive remedies, (i) the option to terminate this Agreement
in accordance with Section 14 within ten (10) business days after its receipt of
notice from Seller as set forth above, by notice in writing to Seller, or (ii)
if Buyer does not elect to terminate, this Agreement shall remain in full force
and effect, Buyer shall take title to the Property subject to such damage to or
destruction, with an
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assignment by Seller to Buyer of all available casualty insurance proceeds.
In the event of an eminent domain taking or the issuance of a notice of an
eminent domain taking with respect to all or any portion of the Property,
Seller shall promptly notify Buyer. Buyer shall have, as its sole and
exclusive remedies, (i) the option to terminate this Agreement in accordance
with Section 14 within ten (10) business days after its receipt of such
notice from Seller, by notice in writing to Seller, or (ii) if Buyer does not
elect to terminate this Agreement, this Agreement shall remain in full force
and effect, Buyer shall be obligated to consummate this transaction for the
full Purchase Price, and Buyer shall be entitled to receive all eminent
domain awards and, to the extent the same may be necessary and appropriate,
Seller shall assign to Buyer at Closing Seller's rights to such awards. In
no event shall the Purchase Price be reduced, except to the extent of any
deductible amounts payable in connection with insurance proceeds assigned by
Seller to Buyer.
14. TERMINATION AND REMEDIES.
(a) If Buyer fails to consummate the purchase of the Property
pursuant to this Agreement for any reason other than termination hereof pursuant
to a right granted to Buyer in Sections 5, 6, 7, or 13, then Seller, as its sole
and exclusive remedy, shall have the right to terminate this Agreement by
notifying Buyer thereof, in which event the Title Company shall deliver to
Seller, as liquidated damages, the ▇▇▇▇▇▇▇ Money, whereupon neither Buyer nor
Seller shall have any further rights or obligations hereunder. Seller and Buyer
hereby acknowledge and agree they have included the provision for payment of
liquidated damages because, in the event of a breach by Buyer, the actual
damages incurred by Seller can reasonably be expected to approximate the amount
of liquidated damages called for, and because the actual amount of such damages
would be difficult if not impossible accurately to measure.
(b) If Seller fails to consummate the sale of the Property pursuant
to this Agreement for any reason other than (i) termination hereof by Buyer
pursuant to Sections 5, 6, 7, or 13 or (ii) Buyer's failure to perform its
obligations hereunder, Buyer shall have the right, as its sole and exclusive
remedies, to either (i) terminate this Agreement by notifying Seller thereof, in
which case the Title Company shall deliver the ▇▇▇▇▇▇▇ Money to Buyer, whereupon
neither party hereto shall have any further rights or obligations hereunder, or
(ii) enforce specific performance of the obligations of Seller hereunder and/or
seek damages for breach of this Agreement by Seller.
(c) If Buyer terminates this Agreement pursuant to a right granted
Buyer in Section 5, 6, 7, or 13, then the Title Company shall deliver the
▇▇▇▇▇▇▇ Money to Buyer whereupon neither Buyer or Seller shall have any further
rights or obligations hereunder.
15. MISCELLANEOUS. Each of Buyer and Seller agrees with the other that it
has no present intention to make any public announcement of the purchase and
sale transaction contemplated hereby or of any of the terms thereof, and shall
obtain the written consent of the other party prior to making any announcement
or divulging any information. Both Seller and Buyer shall cooperate with one
another and in a timely manner execute all documents reasonably required to give
effect to the purchase and sale provided for herein. If any provision of this
Agreement is adjudicated by a court having
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jurisdiction over a dispute arising herefrom to be invalid or otherwise
unenforceable for any reason, such invalidity or unenforceability shall not
affect the other provisions hereof. This Agreement shall be governed and
construed in accordance with the laws of the State of Texas. This Agreement
is the entire agreement between Seller and Buyer concerning the sale of the
Property and no modification hereof or subsequent agreement relative to the
subject matter hereof shall be binding on either party unless reduced to
writing and signed by the party to be bound. The provisions of Sections 3, 7,
8, and 11 shall survive Closing. EXHIBITS A-I attached hereto are
incorporated herein by this reference for all purposes. Time is of the
essence in the performance of each and every provision of this Agreement. In
the event that the last day for taking any action or serving notice under
this Agreement falls on a Saturday, Sunday or legal holiday, the time period
shall be extended until the following business day.
16. DATE OF AGREEMENT. All references in this Agreement to "the date
hereof" or similar references shall be deemed to refer to the last date, in
point of time, on which all parties hereto have executed and received a fully
executed copy of this Agreement. This Agreement constitutes an offer by Buyer
to purchase the Property on the terms and conditions and for the Purchase Price
specified herein. Unless sooner terminated or withdrawn by notice in writing to
Seller, this offer shall lapse and terminate at the close of Buyer's business
day on ten (10) days following execution of this Agreement by Buyer, unless,
prior to such time, Seller has returned to Buyer two (2) fully executed copies
of this Agreement.
IN WITNESS WHEREOF, Buyer and Seller have executed this Agreement as of the
date first set forth above.
BUYER:
U. S. RESTAURANT PROPERTIES OPERATING L. P.
By: U. S. RESTAURANT PROPERTIES, INC.
By: /s/
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Name: ▇▇▇▇ ▇▇▇▇▇▇▇▇
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Title: Chairman
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SELLER:
/s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇
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The undersigned hereby executes this Agreement for the sole purpose of (i)
acknowledging receipt of the ▇▇▇▇▇▇▇ Money and the Non-Refundable ▇▇▇▇▇▇▇ Money
and (ii) to evidence its agreement to hold the Non-Refundable ▇▇▇▇▇▇▇ Money and
the ▇▇▇▇▇▇▇ Money in trust for the parties hereto in accordance with the terms
of this Agreement.
TITLE COMPANY:
COMMONWEALTH LAND TITLE COMPANY
By: /s/ ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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Title: Vice President
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Date of Execution: 6/21/96
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PURCHASE AND SALE AGREEMENT - PAGE ▇▇
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ATTACHMENTS:
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Exhibit A - Personal Property
Exhibit B - Special Warranty Deed
Exhibit C - General Assignment
Exhibit D - ▇▇▇▇ of Sale
Exhibit E - IRC Section 1445 Certification
Exhibit F - Assignment and Assumption of Lease Agreement
Exhibit G - Intentionally Deleted
Exhibit H - Investment Letter
Exhibit I - Estoppel Certificate
Schedules and Exhibits Omitted