AGREEMENT OF SALEAgreement of Sale • December 22nd, 2011 • Sun Communities Inc • Real estate investment trusts
This AGREEMENT OF SALE (this “Agreement”) is made and entered into this 16th day of November, 2011 (the “Effective Date”), by and between CLUB NAPLES RV RESORT LLC (the "Seller"), a Delaware limited liability company, having its principal office at c/o Morgan Management, 1170 Pittsford Victor Road, Pittsford, New York 14534, and SUN COMMUNITIES OPERATING LIMITED PARTNERSHIP (the "Purchaser"), a Michigan limited partnership having its principal office at 27777 Franklin Road, Suite 200, Southfield, Michigan 48034, or its designee or assignee.
FIRST AMENDMENT TO AGREEMENT OF SALE (CLUB NAPLES)Agreement of Sale • December 22nd, 2011 • Sun Communities Inc • Real estate investment trusts
This First Amendment to Agreement of Sale (“Amendment”) is entered into effective as of the 29th day of November, 2011 by and between CLUB NAPLES RV RESORT LLC, a Delaware limited liability company (the “Seller”), with an address at c/o Morgan Management, 1170 Pittsford Victor Road, Pittsford, New York 14534, and SUN COMMUNITIES OPERATING LIMITED PARTNERSHIP, with an address at c/o Sun Communities, Inc., 27777 Franklin Road, Suite 200, Southfield, Michigan 48034 (the “Purchaser”);.
FIRST AMENDMENT TO NON-COMPETE AGREEMENTNon-Compete Agreement • December 22nd, 2011 • Sun Communities Inc • Real estate investment trusts
This First Amendment to Non-Compete Agreement (“Amendment”) is entered into effective as of the 15th day of December, 2011 by and between ROBERT C. MORGAN and ROBERT MOSER, both having an address at c/o Morgan Management, 1170 Pittsford Victor Road, Pittsford, New York 14534, and SUN COMMUNITIES OPERATING LIMITED PARTNERSHIP, with an address at c/o Sun Communities, Inc., 27777 Franklin Road, Suite 200, Southfield, Michigan 48034 (the “SCOLP”).
FIRST AMENDMENT TO AGREEMENT OF SALE (NORTH LAKE ESTATES)Agreement of Sale • December 22nd, 2011 • Sun Communities Inc • Real estate investment trusts
This First Amendment to Agreement of Sale (“Amendment”) is entered into effective as of the 29th day of November, 2011 by and between NORTH LAKE RV RESORT LLC, a Delaware limited liability company (collectively, the “Seller”), with an address at c/o Morgan Management, 1170 Pittsford Victor Road, Pittsford, New York 14534, and SUN COMMUNITIES OPERATING LIMITED PARTNERSHIP, with an address at c/o Sun Communities, Inc., 27777 Franklin Road, Suite 200, Southfield, Michigan 48034 (the “Purchaser”);.
Promissory NoteSun Communities Inc • December 22nd, 2011 • Real estate investment trusts
FOR VALUE RECEIVED, Sun Blueberry Hill LLC, a Michigan limited liability company; Sun Grand Lake LLC, a Michigan limited liability company; Sun Three Lakes LLC, a Michigan limited liability company; Sun Club Naples LLC, a Michigan limited liability company; Sun Naples Gardens LLC, a Michigan limited liability company; and Sun North Lake Estates LLC, a Michigan limited liability company (collectively, the “Borrower”), hereby promise to pay to the order of Bank of America, N.A., a national banking association (together with any and all of its successors and assigns and/or any other holder of this Note, “Lender”), without offset, in immediately available funds in lawful money of the United States of America, at the Commercial Real Estate Banking Office in Troy, Michigan, of Bank of America, N.A. (“Administrative Agent”) or at such other place as Administrative Agent from time to time may designate, the principal sum of Nine Million Nine Hundred Sixteen Thousand Six Hundred Sixty Six and 6
TERM LOAN AGREEMENT Dated as of December 15, 2011 Among SUN BLUEBERRY HILL LLC, a Michigan limited liability company SUN GRAND LAKE LLC, a Michigan limited liability company SUN THREE LAKES LLC, a Michigan limited liability company SUN CLUB NAPLES...Term Loan Agreement • December 22nd, 2011 • Sun Communities Inc • Real estate investment trusts
This Term Loan Agreement (this “Agreement”) is entered into as of December 15, 2011, by and among Sun Blueberry Hill LLC, a Michigan limited liability company; Sun Grand Lake LLC, a Michigan limited liability company; Sun Three Lakes LLC, a Michigan limited liability company; Sun Club Naples LLC, a Michigan limited liability company; Sun Naples Gardens LLC, a Michigan limited liability company; and Sun North Lake Estates LLC, a Michigan limited liability company (collectively “Borrower”), each lender from time to time party hereto (collectively, the “Lenders” and individually, a “Lender”), and Bank of America, N.A., a national banking association, acting on behalf of the Lenders, as Administrative Agent.
MASTER CNN REAL ESTATE PURCHASE AGREEMENTMaster CNN Real Estate Purchase Agreement • December 22nd, 2011 • Sun Communities Inc • Real estate investment trusts • Delaware
THIS MASTER CNN REAL ESTATE PURCHASE AGREEMENT (this “Agreement”) is made and entered into as of November 9, 2011 by and among SUN COMMUNITIES OPERATING LIMITED PARTNERSHIP, a Michigan limited partnership (“SCOLP”), and ROBERT C. MORGAN and ROBERT MOSER (collectively, the “Principals”).
Non-Compete AgreementNon-Compete Agreement • December 22nd, 2011 • Sun Communities Inc • Real estate investment trusts • Florida
This NON-COMPETE AGREEMENT (this “Agreement”) dated as of November 29, 2011, and effective as of the Closing Date (as defined in the Master CNN Agreement) between ROBERT C. MORGAN and ROBERT MOSER, both having an address at c/o Morgan Management, 1170 Pittsford Victor Road, Pittsford, New York 14534, and SUN COMMUNITIES OPERATING LIMITED PARTNERSHIP, having an address at c/o Sun Communities, Inc., 27777 Franklin Road, Suite 200, Southfield, Michigan 48034 (“SCOLP”).
Promissory NotePromissory Note • December 22nd, 2011 • Sun Communities Inc • Real estate investment trusts
FOR VALUE RECEIVED, Sun Blueberry Hill LLC, a Michigan limited liability company; Sun Grand Lake LLC, a Michigan limited liability company; Sun Three Lakes LLC, a Michigan limited liability company; Sun Club Naples LLC, a Michigan limited liability company; Sun Naples Gardens LLC, a Michigan limited liability company; and Sun North Lake Estates LLC, a Michigan limited liability company (collectively, the “Borrower”), hereby promise to pay to the order of The PrivateBank and Trust Company, an Illinois state chartered bank (together with any and all of its successors and assigns and/or any other holder of this Note, “Lender”), without offset, in immediately available funds in lawful money of the United States of America, at the Commercial Real Estate Banking Office in Troy, Michigan, of Bank of America, N.A. (“Administrative Agent”) or at such other place as Administrative Agent from time to time may designate, the principal sum of Seven Million Eighty Three Thousand Three Hundred Thirty
FIRST AMENDMENT TO MASTER CNN REAL ESTATE PURCHASE AGREEMENTMaster CNN Real Estate Purchase Agreement • December 22nd, 2011 • Sun Communities Inc • Real estate investment trusts
This First Amendment to Master CNN Real Estate Purchase Agreement (“Amendment”) is entered into effective as of the 29th day of November, 2011 by and between ROBERT C. MORGAN and ROBERT MOSER (collectively, the “Seller”), with an address at c/o Morgan Management, 1170 Pittsford Victor Road, Pittsford, New York 14534, and SUN COMMUNITIES OPERATING LIMITED PARTNERSHIP, with an address at c/o Sun Communities, Inc., 27777 Franklin Road, Suite 200, Southfield, Michigan 48034 (the “Buyer”);.
