COURTYARD BY MARRIOTT AGREEMENT OF SALECourtyard by Marriott Agreement of Sale • May 26th, 1998 • Arlen Capital Advisors LLC • Hotels & motels • California
Contract Type FiledMay 26th, 1998 Company Industry JurisdictionThe undersigned Limited Partner, and/or Assignee Holder or Unit Holder (the "Seller") does hereby sell, assign, transfer, convey and deliver (the "Sale") to Palm Investors, LLC, a Delaware limited liability company ("Palm" or the "Purchaser"), all of the Seller's right, title and interest in Units (as defined below) in Courtyard by Marriott Limited Partnership (the "Partnership") being sold pursuant to this Agreement of Sale ("Agreement") and the Offer dated May 26, 1998 (the "Offer") for a purchase price of $85,000 per Unit, less the amount of any distributions declared or paid from any source by the Partnership with respect to the Units after May 15, 1998, without regard to the record date or whether such distributions are classified as a return on, or a return of, capital. "UNITS" MEANS, THE INTEREST OF A LIMITED PARTNER AND INCLUDES, WITHOUT LIMITATION, ALL OF SELLER'S RIGHTS TO CLAIMS, DAMAGES, RECOVERIES, AND CAUSES OF ACTION ACCRUING TO THE BENEFIT OF SELLER WITH RESPECT TO SELL