ASSIGNMENT OF PURCHASE AGREEMENT
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THIS AGREEMENT is entered into as of this 19th day of May, 1999 by and between
N'Tandem Properties, L.P., a Delaware limited partnership ("Assignee"), Chateau
Communities, Inc., a Maryland corporation ("Assignor") Rio Grande Investors,
LLC, a New Mexico LLC, ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇, as Trustee of the ▇▇▇▇ ▇▇▇▇▇
▇▇▇▇▇▇▇▇▇▇ Trust dtd 4/13/90, ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇, as Trustee of the ▇▇▇▇▇▇▇ ▇.
▇▇▇▇▇ Trust dtd 10/10/90, ▇▇▇▇▇▇ ▇. ▇▇▇▇▇, as Trustee of the ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Trust dtd 3/14/90 and ▇▇▇▇ ▇. ▇▇▇▇▇▇▇, as Trustee of the ▇▇▇▇▇▇▇ Family 1995
Revocable Trust ( collectively "Seller").
WHEREAS, Assignor, as Purchaser and Seller entered into that certain Purchase
Agreement, dated as of May 10, 1999 regarding the purchase and sale of two
manufactured housing communities commonly known as Aztec Village and Village
Park (the "Purchase Agreement"); and
WHEREAS, Assignor desires to assign and Assignee desires to accept said
assignment of Assignor's interest as Purchaser in the Purchase Agreement.
NOW THEREFORE, for One and 00/100 ($1.00) Dollar the receipt and sufficiency
of which is hereby acknowledged, the parties agree as follows:
1. Assignor hereby assigns all of its right, title and interest as Purchaser
in the Purchase Agreement to Assignee.
2. Assignee accepts the assignment of the Purchase Agreement from Assignor
and agrees to assume all obligations of Assignor under said Purchase Agreement.
IN WITNESS WHEREOF the parties have executed this Agreement on the day first
written above.
Assignee: N'TANDEM PROPERTIES, L.P.
a Delaware limited partnership
By: N'Tandem Trust
Its: General Partner
By: /s/▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
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Its: Trustee
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Assignor: CHATEAU COMMUNITIES, INC., a Maryland corporation
By: /s/▇▇▇▇ ▇. ▇▇▇▇▇ ▇▇.
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Its: Executive Vice President
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ACKNOWLEDGMENT AND CONSENT:
Rio Grande Investors, LLC, a New Mexico LLC,
on behalf of the Sellers
By: /s/▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇
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Its: Managing Member
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