FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT
Exhibit
10.7
FIRST AMENDMENT TO
PURCHASE AND SALE AGREEMENT
PURCHASE AND SALE AGREEMENT
This First Amendment to Purchase and Sale Agreement (the “First Amendment”) is made and
entered into as of August 11, 2005 by and among Xxxxxxx Xxxxx Associates, L.P., a Delaware limited
partnership (the “Seller”), and Columbia Equity Trust, Inc., a Maryland corporation (the
“Purchaser”) with reference to the following facts:
RECITALS:
A. Purchaser and Seller have entered into that certain Purchase and Sale Agreement, dated as
of August 5, 2005 (the “Contract”); and
B. Both parties desire to further amend and modify the Contract as set forth below.
NOW, THEREFORE, for and in consideration of the agreements and obligations hereinafter set
forth and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged by the parties hereto, Purchaser and Seller agree as follows:
TERMS
1. Purchase Price. The Purchase Price (as defined in the Contract) is changed to FOURTEEN
MILLION FIVE HUNDRED THOUSAND and 00/100 DOLLARS ($14,500,000).
2. Inspection Period. Purchaser shall have no further right to terminate the Contract
pursuant to Section 3.2(a) thereof.
3. Ratification. Except as modified by this First Amendment, the Contract remains in full
force and effect.
4. Counterparts. This First Amendment may be executed in multiple counterparts, each of
which shall be deemed an original, and all of which, taken together, shall constitute one and the
same instrument.
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment as of the date first
set forth above.
SELLER: | ||||||||
XXXXXXX XXXXX ASSOCIATES, L.P. | ||||||||
By: | SAP IV Xxxxxxx Xxxxx NF GP L.L.C., | |||||||
its sole general partner | ||||||||
By: | SAP IV Manager, Inc. | |||||||
its manager | ||||||||
By: | /s/ Xxxxxxx X. Xxxxxx | |||||||
Its: | Senior Executive Vice President |
PURCHASER: | ||||
COLUMBIA EQUITY TRUST, INC., | ||||
a Maryland corporation | ||||
By: | /s/ Xxxxxxx Xxxxx | |||
Its: | Director of Acquisitions |