Page | ||||
1. PURCHASE AND SALE OF PROPERTY | 1 | |||
2. PURCHASE PRICE | 7 | |||
3. SELLERS’ COVENANTS PRIOR TO CLOSING | 12 | |||
4. STATUS OF TITLE TO PROPERTY | 19 | |||
5. CLOSING | 23 | |||
6. CASUALTY LOSS AND CONDEMNATION | 33 | |||
7. REPRESENTATIONS AND WARRANTIES | 34 | |||
8. CONDITIONS PRECEDENT | 52 | |||
9. DEFAULT AND REMEDIES | 54 | |||
10. MISCELLANEOUS | 56 | |||
11. EXISTING LOANS | 59 | |||
12. SECTION 1031 EXCHANGES | 62 | |||
13. FLORIDA PROVISION | 62 | |||
14. CONDITION OF ACQUIRED ASSETS | 63 | |||
15. HOMES AND LOANS PURCHASE AGREEMENT | 64 | |||
16. GRAND BLANC AND HOLLY HILLS FORECLOSURE | 64 |
(ii) | Sellers’ interest in and to: |
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respective directors, officers, managers, general partners or authorized representatives (collectively, the “Exclusivity Parties”), to not, (A) initiate, solicit or knowingly encourage any inquiries or the making of any proposal regarding any Potential Transaction (as hereinafter defined); (B) engage in, continue or otherwise participate in any discussions or negotiations regarding, or provide any material information or data to any third party relating to, any Potential Transaction; (C) enter into any verbal or written agreement or agreement in principle with respect to any Potential Transaction; or (D) otherwise knowingly facilitate any effort or attempt to consummate a Potential Transaction. Sellers and Holdings shall advise Purchaser of any written inquiries by any third party with respect to a Potential Transaction valued at more than Five Hundred Million and 00/100 Dollars ($500,000,000.00) received by Patrick Zilis or Richard Cline or received in writing by any member of the Advisory Board of Holdings. A “Potential Transaction” means any stock or asset sale, merger, joint venture, partnership, purchase, exchange or contribution, business combination or similar transaction with respect to all or a portion of the Properties (other thande minimispersonal property). It is understood and agreed that the rights granted to Purchaser in thisSection 3(J) (collectively, the “Exclusivity Rights”) are of a special, unique and extraordinary character to Purchaser and that money damages would not be a sufficient remedy for any breach of the Exclusivity Rights by Sellers, Holdings or the Exclusivity Parties. Accordingly, notwithstanding any provision contained in this Agreement to the contrary and notwithstanding anything contained inSection 9(A), Sellers and Holdings, on their own behalf and on behalf of the Exclusivity Parties, expressly agree that Purchaser shall have the right, in the event of a breach of the obligations of Sellers, Holdings and the Exclusivity Parties set forth in thisSection 3(J), to (i) seek damages against Sellers, Holdings and the Exclusivity Parties arising out of any breach of clause (C) of thisSection 3(J), and (ii) seek injunctive and other equitable relief (without the necessity of posting a bond) to prevent the breach, or the further breach, of any of the Exclusivity Rights; |
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Sellers’ Initials | Purchaser’s Initials |
56
150 North Wacker Drive
Suite 2800
Chicago, Illinois 60606
Attention: Richard Cline, Jr.
E-mail: rcline@hometownamerica.net
Fox, Hefter, Swibel, Levin & Carroll, LLP
c/o Hometown America
150 N. Wacker Drive, Suite 2800
Chicago, IL 60606
Facsimile: 801-409-4959
E-mail: nnagel@hometownamerica.net
57
c/o Equity Lifestyle Properties, Inc.
Two North Riverside Plaza
Suite 800
Chicago, Illinois 60606
Attention: General Counsel
Telephone: 312.279.1652
Facsimile: 312.279.1653
E-mail: ken_kroot@equitylifestyle.com
191 N. Wacker Drive, 29th Floor
Chicago, Illinois 60606
Attention: Daniel J. Perlman, Esq.
Telephone: (312) 499-6090
Facsimile: (312) 499-6091
E-mail: danielperlman@paulhastings.com
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PURCHASER: MHC OPERATING LIMITED PARTNERSHIP, an Illinois limited partnership | ||||
By: | MHC Trust, a Maryland real estate investment trust, its general partner |
By: | Equity LifeStyle Properties, Inc., a | |||
Maryland corporation, its sole voting shareholder |
By: | /s/ Thomas P. Heneghan | |||
Name: | Thomas P. Heneghan | |||
Title: | President and Chief Executive Officer | |||
APACHE WESTPARK SPE LLC,
AUDUBON VILLAGE SPE LLC,
TIMBERTON RANCH SPE LLC,
HOMETOWN BEACON HILL COLONY, L.L.C.,
LONG FIELD WOODS SPE LLC,
SHADY LANE SPE LLC,
HOMETOWN CEDAR KNOLLS, L.L.C.,
HOMETOWN CHERON, L.L.C.,
HOMETOWN CHESTERFIELD, L.L.C.,
HOMETOWN CIMARRON, L.L.C.,
HOMETOWN CLOVERLEAF PHASE II, L.L.C.,
HOMETOWN CLOVERLEAF, L.L.C.,
FOREST ESTATES FSPE LLC,
COLONY COVE SPE LLC,
COVINGTON ESTATES MHC, L.L.C.,
DENALI PARK SPE LLC,
EMERALD LAKE SPE LLC,
HOMETOWN FEATHEROCK, L.L.C.,
HOMETOWN FERRAND, L.L.C.,
HOMETOWN HASELTON VILLAGE, L.L.C.,
HERON CAY MHC, L.L.C.,
HIDDEN VALLEY SPE LLC,
EAST LANE RANCH ESTATES SPE LLC,
HOMETOWN HOOSIER ESTATES, L.L.C.,
HOMETOWN LAKE WORTH, L.L.C.,
LAKELAND HARBOR SPE LLC,
LAKELAND JUNCTION SPE LLC,
PARKWOOD BRANCH TERRACE SPE LLC,
HOMETOWN LI’L WOLF, L.L.C.,
LOS RANCHOS FSPE LLC,
HOMETOWN MACOMB, L.L.C.,
MEADOW PARK SPE LLC,
HOMETOWN MOUNTAIN VIEW, L.L.C.,
HOMETOWN NORTH GLEN, L.L.C.,
PALM BEACH SPE LLC,
HOMETOWN PEPPERMINT WOODS, L.L.C.,
PINE RIDGE MHC, LLC,
HOMETOWN RIDGEWOOD, L.L.C.,
HOMETOWN ROCKFORD RIVERVIEW, L.L.C.,
HOMETOWN SHENANDOAH ESTATES, L.L.C.,
HOMETOWN STONEGATE STORAGE, L.L.C.,
HOMETOWN STONEGATE MANOR, L.L.C.,
HOMETOWN SUNSHINE VALLEY, L.L.C.,
SWAN CREEK SPE LLC,
VERO PALM MHC, L.L.C.,
HOMETOWN WEST MEADOW, L.L.C.,
HOMETOWN WESTBROOK, L.L.C.,
HOMETOWN WESTPARK EXPANSION, L.L.C.,
HOMETOWN WHISPERING PINES LARGO, L.L.C.,
HOMETOWN WILLIAMS ESTATES, LLC,
HOMETOWN WOODLANDS, L.L.C.,
HOMETOWN WOODLANDS PHASE II, L.L.C.,
MH FINANCIAL SERVICES, L.L.C.,
HOMETOWN AMERICA MANAGEMENT, L.L.C.,
each a Delaware limited liability company, and
N’TANDEM REAL ESTATE HOLDINGS, LLC, a
Maryland limited liability company
By: | /s/ Richard G. Cline, Jr. | ||
Name: | Richard G. Cline, Jr. | ||
Title: | Chief Executive Officer | ||
CWS COMMUNITIES LP, a Delaware limited partnership | ||||
By: | Second Merger Sub, LLC, a Maryland limited liability company, its general partner | |||
HOMETOWN COMMUNITIES LIMITED PARTNERSHIP, a Maryland limited partnership | ||||
By: | Hometown Communities, LLC, a Maryland limited liability company, its general partner | |||
CWS GREENBRIAR LP, a Delaware limited partnership | ||||
By: | CWS Greenbriar LLC, a Delaware limited liability company, its general partner | |||
HOMETOWN LAKE VILLAGE, L.P., a Delaware limited partnership | ||||
By: | Hometown Lake Village GP, L.L.C., a Delaware limited liability company, its general partner | |||
N’TANDEM PROPERTIES, L.P., a Delaware limited partnership | ||||
By: | Keystone Properties LLC, a Delaware limited liability company, its general partner |
For each such entity above, | ||||
By: | /s/ Richard G. Cline, Jr. | |||
Name: | Richard G. Cline, Jr. | |||
Title: | Chief Executive Officer | |||
EQUITY LIFESTYLE PROPERTIES, INC., a Maryland corporation | ||||
By: | /s/ Thomas P. Heneghan | |||
Name: | Thomas P. Heneghan | |||
Title: | President and Chief Executive Officer | |||
MHC TRUST, a Maryland real estate investment trust | ||||
By: | Equity LifesStyle Properties, Inc., a Maryland corporation, its sole voting shareholder |
By: | /s/ Thomas P. Heneghan | |||
Name: | Thomas P. Heneghan | |||
Title: | President and Chief Executive Officer | |||
HOMETOWN AMERICA HOLDINGS, L.L.C., a Delaware limited liability company | ||||
By: | Hometown Residential Manager, L.L.C., its managing member |
By: | /s/ Richard G. Cline, Jr. | |||
Name: | Richard G. Cline, Jr. | |||
Title: | Chief Executive Officer | |||
HOMETOWN AMERICA, L.L.C., a Delaware limited liability company | ||||
By: | Hometown Residential Manager, L.L.C., its manager |
By: | /s/ Richard G. Cline, Jr. | |||
Name: | Richard G. Cline, Jr. | |||
Title: | Chief Executive Officer |
EXHIBIT A | Sellers and Properties | |
EXHIBIT B | Intentionally Deleted | |
EXHIBIT C | Intentionally Deleted | |
EXHIBIT D | Intentionally Deleted | |
EXHIBIT E | Terms of Ownership Interest Purchase | |
EXHIBIT E-1 | Form of Assignment of Limited Partnership Interests* | |
EXHIBIT E-2 | Form of Assignment of General Partnership Interests* | |
EXHIBIT E-3 | Form of Assignment of Membership Interests* | |
EXHIBIT E-4 | Form of Notice to Tenants upon Sale of Ownership Interests* | |
EXHIBIT F | Form of Amendment to Agreement for Entity Sellers | |
EXHIBIT G | Form of Strict Joint Order Escrow Agreement | |
EXHIBIT H | List of Existing Loan Documents and Existing Loan Terms | |
EXHIBIT I | List of Defeasance Loans | |
EXHIBIT J | List of Unencumbered Properties | |
EXHIBIT K | Form of Bill of Sale (Personal Property)* | |
EXHIBIT L | Form of Notice to Vendors* | |
EXHIBIT M | Form of Letter to Tenants* | |
EXHIBIT N | Form of Assignment of Contracts, Licenses, Leases and Intangibles* | |
EXHIBIT O | Form of Assignment and Assumption of Ground Lease | |
EXHIBIT P | Form of Ground Lessor Consent and Estoppel | |
EXHIBIT Q | Form of Registration Rights Agreement | |
EXHIBIT R | Form of Hometown Joinder Guaranty Agreement | |
EXHIBIT S | Form of Articles Supplementary | |
EXHIBIT T | Form of Ground Lease Escrow Agreement | |
EXHIBIT T-1 | Form of Ground Lease Note Escrow Agreement | |
EXHIBIT U | Form of Master Escrow Agreement | |
EXHIBIT V | List of Michigan Loan Documents | |
EXHIBIT W | Form of Assignment of Michigan Loan Documents and Allonge* | |
SCHEDULE 2(D) | Ground Lease Distributions | |
SCHEDULE 3(A) | Due Diligence Materials | |
SCHEDULE 3(M) | Woodlands Loan Offer Terms* | |
SCHEDULE 5(D) | Closing Costs* |
SCHEDULE 7(B)(iii) | Purchaser Conflicts |
* | These schedules and exhibits omitted pursuant to Item 601(b)(2) of Regulation S-K. The Company agrees to furnish supplementally a copy of any omitted schedule or exhibit to the SEC upon request. |
Sellers and Properties
Exhibit A
Ref # | Property Name | Seller | Address | |||
1 | Apache East | Apache Westpark SPE LLC | 3500 South Tomahawk Dr., Apache Junction, AZ 85219 County of Pinal | |||
2 | Audubon Village | Audubon Village SPE LLC | 6565 Beggs Road, Orlando, Florida 32810 County of Orange | |||
3 | Avon | Timberton Ranch SPE LLC | 2600 West Auburn Road, Rochester Hills, MI 48309-4064 County of Oakland | |||
4 | Beacon Hill Colony | Hometown Beacon Hill Colony, L.L.C. | 1112 West Beacon Road, Lakeland, FL 33803 County of Polk | |||
5 | Beacon Terrace | CWS Communities LP | 2425 Harden Boulevard, Lakeland, FL 33803 County of Polk | |||
6 | Buena Vista | Long Field Woods SPE LLC | 4301 El Tora Boulevard, Fargo, ND 58103 County of Cass | |||
7 | Carefree Village, FL | Shady Lane SPE LLC | 8000 Sheldon Road, Tampa, FL 33615 County of Hillsborough | |||
8 | Cedar Knolls | Hometown Cedar Knolls, L.L.C. | 12571 Garland Avenue, Apple Valley, MN 55124 County of Dakota | |||
9 | Cheron Village | Hometown Cheron, L.L.C. | 13222 SW 9th Court, Davie, FL 33325-4154 County of Broward | |||
10 | Chesterfield (a/k/a Hometown Chesterfield) | Hometown Chesterfield, L.L.C. | 49900 Fairchild Road, Chesterfield, MI 48051 County of Macomb | |||
11 | Cimarron Park | Hometown Cimarron, L.L.C. | 901 Lake Elmo Ave. North, Lake Elmo, MN 55042 County of Washington | |||
12 | Clinton, Hometown | Long Field Woods SPE LLC | 38080 Le Chateau Boulevard, Clinton, MI 48038 County of Macomb | |||
13(a) | Cloverleaf Farms MHC | Hometown Cloverleaf, L.L.C. | 900 North Broad Street, Brooksville, FL 34601-2345 County of Hernando | |||
13(b) | Cloverleaf Expansion (part of Cloverleaf Farms) | Hometown Cloverleaf Phase II, L.L.C. | Adjacent to Cloverleaf Farms which is located at 900 North Broad Steet, Brookville, FL 34601 County of Hernando | |||
14 | Cloverleaf Forest RV Park | Hometown Cloverleaf, L.L.C. | 900 North Broad Street, Brooksville, FL 34601-2345 County of Hernando | |||
15 | Coach Royale, ID | Forest Estates FSPE LLC | 181 and 219 North Liberty Drive, Boise, ID 83704 County of Ada | |||
16 | Colony Cove | Colony Cove SPE LLC | 4313 Kings Drive, Ellenton, FL 34222 County of Manatee | |||
17 | Covington Estates | Covington Estates MHC, L.L.C. | 3942 Glenwick Drive, St. Cloud, Florida 34772 Osceola County |
A-1
Ref # | Property Name | Seller | Address | |||
18 | Cranberry Lake | Shady Lane SPE LLC | 9620 Highland Road, White Lake, MI 48386 County of Oakland | |||
19 | Crystal Lake-Zephyrhills | Forest Estates FSPE LLC | 4604 Lake Crystal Blvd., Zephyrhills, FL 33541-2141 County of Pasco | |||
20 | Denali Park | Denali Park SPE LLC | 3405 South Tomahawk Dr., Apache Junction, AZ 85219 County of Pinal | |||
21 | Emerald Lake | Emerald Lake SPE LLC | 24300 Airport Road, Punta Gorda, FL 33950 County of Charlotte | |||
22 | Featherock | Hometown Featherock, L.L.C. | 2200 Highway 60 East, Valrico, FL 33594 Hillsborough County | |||
23 | Fernwood | N’Tandem Real Estate Holdings, LLC | 1901 Fernwood Drive, Capitol Heights, MD 20743 County of Prince George’s | |||
24 | Ferrand Estates | Hometown Ferrand, L.L.C. | 2680 44th Street, Wyoming, MI 49519 County of Kent | |||
25 | Foxwood Farms | Hidden Valley SPE LLC | 4500 NW Blitchton Road, Ocala, FL 34482 County of Marion | |||
26 | Glen, The | Hidden Valley SPE LLC | 214 Washington Street, Norwell, MA 02061 County of Plymouth | |||
27 | Grand Blanc Loan | (i) Hometown Communities Limited Partnership, (ii) MH Financial Services, L.L.C., and (iii) Hometown America Management, L.L.C. | 8225 Embury Rd, Grand Blanc, MI 48439 County of Genesee | |||
28 | Greenbriar Village | CWS Greenbriar LP | 63A Greenbriar Drive North, Bath, PA 18014 County of Northampton | |||
29 | Haselton Village | Hometown Haselton Village, L.L.C. | 14 Coral Street, Eustis, FL 32726 County of Lake | |||
30 | Heron Cay | Heron Cay MHC, L.L.C. | 1400 90th Avenue, Vero Beach, FL 32966 County of Indian River | |||
31 | Hidden Valley | Hidden Valley SPE LLC | 8950 Polynesian Lane, Orlando, FL 32836 County of Orange | |||
32 | Hillcrest | East Lane Ranch Estates SPE LLC | 401 Beech Street, Rockland, MA 02370, County of Bristol | |||
33 | Holly Hills Loan | (i) Hometown Communities Limited Partnership, (ii) MH Financial Services, L.L.C., and (iii) Hometown America Management, L.L.C. | 16181 Lancaster Way, Holly, MI 48442 County of Oakland | |||
34 | Hoosier Estates | Hometown Hoosier Estates, L.L.C. | 830 Campbell Street, Lebanon, IN 46052 County of Boone | |||
35 | Kings and Queens | N’Tandem Properties, L.P. | 2808 North Florida Avenue, Lakeland, FL 33805 County of Polk | |||
36 | Lake in the Hills | Shady Lane SPE LLC | 2700 Shimmons Road, Auburn Hills, MI 48326 County of Oakland |
A-2
Ref # | Property Name | Seller | Address | |||
37 | Lake Village | Hometown Lake Village, L.P. | 400 Lake Drive, Nokomis, FL 34275-1560 County of Sarasota | |||
38 | Lake Worth Village | Hometown Lake Worth, L.L.C. | 5160 Lake Worth Road, Lake Worth, FL 33463-3369 County of Palm Beach | |||
39 | Lakeland Harbor | Lakeland Harbor SPE LLC | 4747 North State Road 33, Lakeland, FL 33805 County of Polk | |||
40 | Lakeland Junction | Lakeland Junction SPE LLC | 202 E Griffin Road, Lakeland, FL 33805 County of Polk | |||
41 | Lakeside Terrace | Parkwood Branch Terrace SPE LLC | 24 Sunrise Lane, Fruitland Park, FL 34731 County of Lake | |||
42 | Li’l Wolf | Hometown Li’l Wolf, L.L.C. | 3411 Li’l Wolf Drive, Orefield, PA 18069 County of Lehigh | |||
43 | Los Ranchos | Los Ranchos FSPE LLC | 20843 Waalew Road, Apple Valley, CA 92307 County of San Bernardino | |||
44 | Macomb (a/k/a Hometown Macomb) | Hometown Macomb, L.L.C. | 45301 Chateau Thierry Blvd., Macomb, MI 48044 County of Macomb | |||
45 | Maple Grove Estates | Timberton Ranch SPE LLC | 8597 West Irving Lane, Boise, ID 83704 County of Ada | |||
46 | Meadow Park | Meadow Park SPE LLC | 3220 12th Avenue North, Fargo, ND 58102 County of Cass | |||
47 | Mountain View | Hometown Mountain View, L.L.C. | 4401 Timberline Road, B-4, Walnutport, PA 18088 County of Northampton | |||
48 | Mountain View Nevada | CWS Communities LP | 148 Day St., Henderson, NV 89074 County of Clark | |||
49 | North Glen Village | Hometown North Glen, L.L.C. | 18200 US 31 N #292, Westfield, IN 46074 County of Hamilton | |||
50 | Novi, Hometown | N’Tandem Properties, L.P. | 41875 Carousel Street, Novi, MI 48377 County of Oakland | |||
51 | Old Orchard | Shady Lane SPE LLC | 10500 Lapeer Road, Davison, MI 48423 County of Genesee | |||
52 | Orange Lake | Hidden Valley SPE LLC | 15840-32 State Road 50, Clermont, FL 34711 County of Lake | |||
53 | Palm Beach Colony | Palm Beach SPE LLC | 2000 North Congress Ave., West Palm Beach, FL 33409 County of Palm Beach | |||
54 | Parkwood Communities | Parkwood Branch Terrace SPE LLC | 414 Springlake Road, Wildwood, FL 34785 County of Sumter | |||
55(a) | Peppermint Woods | Hometown Peppermint Woods, L.L.C. | 3300 Eastern Boulevard, Baltimore, MD 21220 Baltimore County | |||
55(b) | Williams Estates | Hometown Williams Estates, LLC | 3300 Eastern Boulevard Baltimore, MD 21220 Baltimore County | |||
56 | Pine Ridge at Crestwood | Pine Ridge MHC, LLC | 2 Fox Street, Whiting, NJ 08759 County of Ocean | |||
57 | Regency Lakes | Hidden Valley SPE LLC | 216 Regency Lakes Drive, Winchester, VA 22603 County of Frederick |
A-3
Ref # | Property Name | Seller | Address | |||
58 | Ridgewood Estates | Hometown Ridgewood, L.L.C. | 3461 Stephanie Lane, Ellenton, FL 34222 County of Manatee | |||
59 | Rockford Riverview Estates | Hometown Rockford Riverview, L.L.C. | 135 Highview Road, Rockford, Minnesota 55373 County of Wright | |||
60 | Rosemount Woods | Hidden Valley SPE LLC | 13925 Bunratty Avenue, Rosemount, MN 55068 County of Dakota | |||
61 | Royal Estates | East Lane Ranch Estates SPE LLC | 8300 Ravine Road, Kalamazoo, MI 49009 County of Kalamazoo | |||
62 | Shady Lane Oaks | Shady Lane SPE LLC | 15777 Bolesta Road #174, Clearwater, FL 33760 County of Pinellas | |||
63 | Shady Lane Village | N’Tandem Properties, L.P. | 15666 49th Street North, Clearwater, FL 33762 County of Pinellas | |||
64 | Shenandoah Estates | Hometown Shenandoah Estates, L.L.C. | 5603 Bull Run Lane, Boise, ID 83714 County of Ada | |||
65 | Starlight Ranch | East Lane Ranch Estates SPE LLC | 6000 East Pershing Avenue, Orlando, FL 32822 County of Orange | |||
66(a) | Stonegate Manor | Hometown Stonegate Manor, L.L.C. | 1 Stonegate Drive, North Windham, Connecticut 06256 Windham County | |||
66(b) | Stonegate — Storage | Hometown Stonegate Storage, L.L.C. | 2 self-storage facilities located adjacent and near Stonegate Manor | |||
67 | Sunshine Valley | Hometown Sunshine Valley, L.L.C. | 1650 S. Arizona Avenue, Chandler, AZ 85248 County of Maricopa | |||
68 | Swan Creek | Swan Creek SPE LLC | 6988 McKean Road, Ypsilanti, MI 48917 County of Washtenaw | |||
69 | Tarpon Glen | Forest Estates FSPE LLC | 1038 Sparrow Lane, Tarpon Springs, FL 34689 County of Pinellas | |||
70 | Vero Palm Manufactured Housing Community | Vero Palm MHC, L.L.C. | 1405 82nd Avenue, Vero Beach, FL 32966 County of Indian River | |||
71 | Village Green | CWS Communities LP | 7300 20th Street, Vero Beach, FL 32966 County of Indian River | |||
72 | West Meadow Estates | Hometown West Meadow, L.L.C. | 120 W. Driftwood, Boise, ID 83713 County of Ada | |||
73 | Westbrook | Hometown Westbrook, L.L.C. | 45013 Catalpa Blvd, Macomb, MI 48044 County of Macomb | |||
74(a) | Westpark | Apache Westpark SPE LLC | 2501 West Wickenburg Way, Wickenburg, AZ 85390 County of Maricopa | |||
74(b) | Westpark Expansion (Part of Westpark) | Hometown Westpark Expansion, L.L.C. | ||||
75 | Whispering Pines Largo | Hometown Whispering Pines Largo, L.L.C. | 7501 142nd Avenue North, Largo, FL 33771 County of Pinellas | |||
76(a) | Woodlands, The | Hometown Woodlands, L.L.C. | 6237 South Transit, Lockport, NY 14094-6332 County of Niagara | |||
76(b) | Woodlands, The Expansion (part of Woodlands) | Hometown Woodlands Phase II, L.L.C. | expansion parcel — see The Woodlands |
A-4
Intentionally Deleted
B-1
Intentionally Deleted
C-1
Intentionally Deleted
D-1
Terms of Ownership Interest Purchase
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E-3
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E-7
Amendment to Agreement for Entity Sellers
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PURCHASER: ________________________, a ________________________ | ||||
By: | ||||
Name: | ||||
Its: | ||||
ADDITIONAL SELLER: ________________________, a ________________________ | ||||
By: | ||||
Name: | ||||
Its: | ||||
F-3
Form of Strict Joint Order Escrow Agreement
STRICT JOINT ORDER ESCROW TRUST INSTRUCTIONS
[ADDRESS]
ESCROW TRUST NO.: | DATE: _______, 20__ |
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G-2
For Sellers: | For Purchaser: | |||||
Firm/Name: | Firm/Name: | |||||
Attn: | Attn: | |||||
Address: | Address: | |||||
City/State: | City/State: | |||||
Phone no.: | Phone no.: | |||||
Fax no.: | Fax no.: | |||||
Signature: | Signature: | |||||
Accepted: | ||||||
By: | ||||||
Date: |
G-3
List of Existing Loan Documents and Existing Loan Information
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H-12
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H-38
2) Hidden Valley
3) The Glen
4) Orange Lake
5) Regency Lakes
6) Rosemount Woods
2) Buena Vista
3) Clinton, Hometown
4) Palm Beach Colony
2) Parkwood Communities
3) Cranberry Lake
4) Lake in the Hills
5) Old Orchard
6) Shady Lane Oaks
7) Carefree Village
I-1
2) Westpark (related expansion parcel not to be defeased but to be sold with Westpark)
3) Royal Estates
4) Hillcrest
5) Swan Creek
6) Starlight Ranch
2) Lakeland Junction
3) Maple Grove Estates
4) Avon
I-2
Property Name | Seller | Address / # of Sites | ||
Cheron Village | Hometown Cheron, L.L.C. | 13222 SW 9th Court Davie, FL 33325-4154 County of Broward 202 Sites | ||
Chesterfield (a/k/a Hometown Chesterfield) | Hometown Chesterfield, L.L.C. | 49900 Fairchild Road Chesterfield, MI 48051 County of Macomb 345 Sites | ||
Coach Royale, ID | Forest Estates FSPE LLC | 181 and 219 North Liberty Drive Boise, ID 83704 County of Ada 91 Sites | ||
Covington Estates | Covington Estates MHC, L.L.C. | 3942 Glenwick Drive St. Cloud, Florida 34772 Osceola County 241 Sites | ||
Crystal Lake-Zephyrhills | Forest Estates FSPE LLC | 4604 Lake Crystal Blvd. Zephyrhills, FL 33541-2141 County of Pasco 330 Sites | ||
Grand Blanc | (i) Hometown Communities Limited Partnership, (ii) MH Financial Services, L.L.C., and (iii) Hometown America Management, L.L.C. [holder of Michigan Loan Documents] | 8225 Embury Rd Grand Blanc, MI 48439 County of Genesee 478 Sites | ||
Holly Hills | (i) Hometown Communities Limited Partnership, (ii) MH Financial Services, L.L.C., and (iii) Hometown America Management, L.L.C. [holder of Michigan Loan Documents] | 16181 Lancaster Way Holly, MI 48442 County of Oakland 242 Sites |
J-1
Property Name | Seller | Address / # of Sites | ||
Kings and Queens | N’Tandem Properties, L.P. | 2808 North Florida Avenue Lakeland, FL 33805 County of Polk 107 Sites | ||
Macomb (a/k/a Hometown Macomb) | Hometown Macomb, L.L.C. | 45301 Chateau Thierry Blvd. Macomb, MI 48044 County of Macomb 1427 Sites | ||
Novi, Hometown | N’Tandem Properties, L.P. | 41875 Carousel Street Novi, MI 48377 County of Oakland 725 Sites | ||
Shady Lane Village | N’Tandem Properties, L.P. | 15666 49th Street North Clearwater, FL 33762 County of Pinellas 155 Sites | ||
Stonegate — Storage | Hometown Stonegate Storage, L.L.C. | 1 self-storage facility located near Stonegate Manor | ||
Stonegate Manor | Hometown Stonegate Manor, L.L.C. | 1 Stonegate Drive North Windham, Connecticut 06256 Windham County 372 Sites [includes 1 on-site storage facility] | ||
Tarpon Glen | Forest Estates FSPE LLC | 1038 Sparrow Lane Tarpon Springs, FL 34689 County of Pinellas 170 Sites | ||
Westbrook | Hometown Westbrook, L.L.C. | 45013 Catalpa Blvd Macomb, MI 48044 County of Macomb 388 Sites |
Note: | The properties referred to as Cloverleaf Expansion, Westpark Expansion and Woodlands Expansion are unencumbered but shall be considered part of the Properties known as Cloverleaf Farms MHC, Westpark MHC and The Woodlands MHC, respectively. |
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AND WHEN RECORDED RETURN TO
___________________________
___________________________
Attn: _______________________
(COLONY COVE GROUND LEASE)
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ASSIGNOR: | ||||
[ a[ | ] ] | |||
By: | ||||
Name: | ||||
Title: | ||||
ASSIGNEE: | ||||
[ a[ | ] ] | |||
By: | ||||
Name: | ||||
Title: |
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Legal Description
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________________________
________________________
________________________
Re: Colony Cove, 4313 Kings Drive, Ellenton FL (the “Premises”) |
1. | Landlord owns and holds all of the right, title and interests as “Landlord” under the Leases covering the Premises. No other person or entity owns or holds any interest as “Landlord” under the Leases. | |
2. | The Leases are in full force and effect and have not been assigned, modified, supplemented or amended in any way whatsoever, except, if at all, as attached asExhibit B hereto and made a part hereof. Except for the Notes, true, correct and complete copies of the documents constituting the Leases are attached asExhibit B hereto. Except for the Notes, there are no other agreements, whether oral or written, between Tenant and Landlord concerning the Premises other than the Leases and the documents and agreements listed onExhibit A hereto. | |
3. | The term of the SW Lease commenced on March 15, 1979. The term of the SE Lease commenced on May 31, 1977. The term of the Lakes Lease commenced on March 15, 1979. Each of the Leases expires on May 31, 2107. |
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4. | The current scheduled net monthly rent (the “Monthly Base Rent”) for the period May through July of 2011 for the Leases is $107,340.66 per month, consisting of: (i) for the SW Lease, a Monthly Base Rent of $32,293.87 (a gross payment of $42,348.41 less a debt service payment under the SW Note (as defined herein) of $10,054.54); (ii) for the SE Lease, a Monthly Base Rent of $44,626.23 (a gross payment of $59,455.92 less a debt service payment under the SE Note (as defined herein) of $14,829.69); and (iii) for the Lakes Lease, a Monthly Base Rent of $30,420.57 (a gross payment of $40,555.48 less a debt service payment under the Lakes Note (as defined herein) of $10,134.91). The Monthly Base Rent under the Leases has been paid in full through ______, 2011. All payments of Monthly Base Rent and additional rent, if any, payable under the Leases has been fully paid and is current. There are no provisions for, and Landlord has no rights with respect to, terminating the Leases or increasing the rent payable thereunder, except as expressly set forth in the Leases. | |
5. | Tenant has no outstanding construction obligations under the Leases. Tenant’s current use and operation of the Premises complies with any use covenants and operating requirements contained in the Leases. | |
6. | Landlord has not delivered or received any notices of default under the Leases alleging current defaults under the Leases. To the best knowledge of Landlord, there is no default by Tenant or Landlord under the Leases, nor has any event or omission occurred which, with the giving of notice or the lapse of time, or both, would constitute a default thereunder. To the best knowledge of Landlord, Tenant has no defense, set-offs, basis for withholding rent, claims or counterclaims against Landlord for any failure of performance of any of the terms of the Leases. Landlord has no current offsets, charges, liens, claims, termination rights or defenses under the Leases. | |
7. | The termination right set forth in Section 22 of the Fifth Amendment is hereby waived by Landlord in its entirety and is of no further force or effect. | |
8. | Landlord is the record and beneficial owner of the Premises. Landlord has not assigned, conveyed, transferred, sold, encumbered or mortgaged its interest in the Lease or the Premises, and there are no mortgages, deeds of trust or other security interests encumbering Landlord’s fee interest in the Premises. | |
9. | Other than Tenant, no third party has any option or preferential right to purchase, acquire title to or lease all or any part of the Premises. | |
10. | Landlord has not received written notice of any pending eminent domain proceedings or other governmental actions or any judicial actions of any kind against Landlord’s interest in the Premises. | |
11. | Tenant holds an option to purchase the Premises pursuant to Sections 5 and 7 of the Fifth Amendment (the “Purchase Option”). The Purchase Option is in full force and effect, and may be exercised by Tenant pursuant to the terms of Sections 5 and 7 of the Fifth Amendment and of the other terms and provisions of the Leases. |
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12. | The address for notices to be given to Landlord under Section 24 of the Fifth Amendment is current and accurate as of the date hereof. | |
13. | The undersigned hereby consents to the assignment and transfer of the Leases to Purchaser or its assignee or designee. | |
14. | Landlord is the obligor under the following: (i) Replacement Promissory Note (Southwest) dated as of October 3, 2003 made by Landlord for the benefit of Chateau Communities, Inc. (the “Lender”) in the original principal amount of $972,409.33 (the “SW Note”); (ii) Replacement Promissory Note (Southeast) dated as of October 3., 2003 made by Landlord for the benefit of Lender in the original principal amount of $1,351,067.94 (the “SE Note”); and (iii) Replacement Promissory Note (Lakes) dated as of October 3, 2003 made by Landlord for the benefit of Lender in the original principal amount of $980,181.48 (the “Lakes Note”, and together with the SW Note and the SE Note, the “Notes”). True, correct and complete copies of the Notes are attached asExhibit C hereto. | |
15. | The SW Note has a maturity date of February 1, 2019. The SE Note has a maturity date of March 18, 2017. The Lakes Note has a maturity date of February 1, 2019. | |
16. | The Notes bear an interest rate of 9.5% per annum. | |
17. | As of ________, 2011, the outstanding principal balances on the Notes are as follows: (i) for the SW Note, [___________]; (ii) for the SE Note, [____________]; and (iii) for the Lakes Note, [_____________]. Payments of principal and interest under the Notes are to be made in equal monthly installments in the following amounts: (i) for the SW Note, $10,054.54 per month; (ii) for the SE Note, $14,829.69 per month; and (iii) for the Lakes Note, $10,134.91 per month. | |
18. | The current holder and payee of the Notes is Tenant, pursuant to the allonges dated as of October 16, 2003, true and correct copies of which are attached hereto asExhibit D. Tenant is allowed to off-set amounts due to Landlord under the Leases with amounts due from Landlord under the Notes. | |
19. | Landlord has not delivered or received any notices alleging current defaults under the Notes, and there is no default by Tenant or Landlord under the Notes, nor has any event or omission occurred which, with the giving of notice or the lapse of time, or both, would constitute a default thereunder. Landlord has no defense, set-offs, basis for withholding payment, claims or counterclaims against Tenant with respect to the Notes. | |
20. | The undersigned consents to the assignment of the Notes to the Purchaser, or its assignee or designee, and agrees to recognize the Purchaser, or its assignee or designee, as the holder of the Notes. |
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21. | The person or persons executing this certificate on behalf of Landlord have the power and authority to execute this certificate. |
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LANDLORD: ONEITA F. EDMONDS, as Trustee of the Edmonds Trust | ||||
By: | ||||
Name: | ||||
Title: |
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Two N. Riverside Plaza, Suite 800
Chicago, IL 60606
Attn: Chief Financial Officer
fax no. (312) 279-1710
Two N. Riverside Plaza, Suite 800
Chicago, IL 60606
Attn: General Counsel
fax no. (312) 279-1715
31 West 52nd Street
New York, New York 10019
Attn: Larry P. Medvinsky, Esq.
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EQUITY LIFESTYLE PROPERTIES, INC. | ||||
By: | ||||
Name: | ||||
Title: |
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HOMETOWN AMERICA, L.L.C., a Delaware limited liability company | ||||
By: Hometown Residential Manager, L.L.C., a Delaware limited liability company, its manager | ||||
By: | ||||
Name: | ||||
Title: | ||||
Address: [•] | ||||
Telecopier: [•] |
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150 North Wacker Drive
Suite 2800
Chicago, Illinois 60606
Attention: Richard Cline
Facsimile:
Fox, Hefter, Swibel, Levin & Carroll, LLP
150 North Wacker Drive
Suite 2800
Chicago, Illinois 60606
Facsimile: (801) 409-4959
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Two North Riverside Plaza
Suite 800
Chicago, Illinois 60606
Attention:
Facsimile:
Two North Riverside Plaza
Suite 800
Chicago, Illinois 60606
Attention:
Facsimile:
191 N. Wacker Drive, 30th Floor
Chicago, Illinois 60606
Attention: Daniel J. Perlman
Facsimile: (312) 499-6100
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PURCHASER: MHC OPERATING LIMITED PARTNERSHIP, an Illinois limited partnership | ||||
By: | MHC Trust, a Maryland real estate investment trust, its general partner |
By: | Equity LifeStyle Properties, Inc., a Maryland corporation, its sole voting shareholder |
By: | ||||
Name: | ||||
Title: |
REALTY SYSTEMS, INC., a Delaware corporation | ||||
By: | ||||
Name: | ||||
Title: |
SELLERS’ GUARANTOR: HOMETOWN AMERICA HOLDINGS, L.L.C., a Delaware limited liability company | ||||
By: | Hometown Residential Manager, L.L.C., a Delaware limited liability company, its managing member |
By: | ||||
Name: | ||||
Title: |
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Form of Articles Supplementary
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EQUITY LIFESTYLE PROPERTIES, INC. | ||||
By: | ||||
Name: | Martina Linders | |||
Title: | Vice President — Tax and Accounting | |||
ATTEST:
Vice President — Legal and Assistant Secretary
By: | ||||
Name: | Martina Linders | |||
Title: | Vice President — Tax and Accounting | |||
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Escrowee: | First American Title Insurance Company | |
Escrow Number: | ||
Escrow Officer: | First American Title Insurance Company | |
30 N. LaSalle Street | ||
Suite 2700 | ||
Chicago, IL 60602 | ||
Phone: | ||
Email: | ||
Seller: | Colony Cove SPE, LLC | |
Attorney for Seller: | Nancy Nagel, Esq., of counsel | |
Fox, Hefter, Swibel, Levin & Carroll, LLP | ||
c/o Hometown America | ||
150 N. Wacker Drive, Suite 2800 | ||
Chicago, IL 60606 | ||
nnagel@hometownamerica.net | ||
Purchaser: | MHC Operating Limited Partnership | |
Attorney for Purchaser: | Daniel J. Perlman | |
Paul, Hastings, Janofsky & Walker LLP | ||
191 N. Wacker Drive | ||
30th Floor | ||
Chicago, IL 60606 | ||
Phone: 312-499-6090 | ||
Email: danielperlman@paulhastings.com | ||
Closing Date: | To be determined | |
Property: | The real property listed onExhibit A (the | |
“Property”) |
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ESCROWEE: FIRST AMERICAN TITLE INSURANCE COMPANY | ||||
By: | ||||
Name: | ||||
Title: | ||||
SELLER: COLONY COVE SPE LLC,a Delaware limited liability company | ||||
By: | ||||
Name: | ||||
Title: | ||||
PURCHASER: MHC OPERATING LIMITED PARTNERSHIP,an Illinois limited partnership | ||||
By: | MHC Trust, a Maryland real estate investment trust, its general partner |
By: | Equity LifeStyle Properties, Inc., a Maryland corporation, its sole voting shareholder |
By: | ||||
Name: | ||||
Title: | ||||
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(b) | ||||||||||||||||||||||||||||||||
(a) | Ground | Monthly | Monthly | (a) + (b) | ||||||||||||||||||||||||||||
Ground | Lease | Cumulative | Beginning | Ending | Purchase | Escrow | ||||||||||||||||||||||||||
Lease | Purchase | (a) + (b) | Purchase | Purchase | Per Day | Option | Distribution | |||||||||||||||||||||||||
Month | Payment | Price Δ | Cumulative | Price | Price | Increase | Escrow | Amount | ||||||||||||||||||||||||
Jun-11 | 30,520,548 | 30,643,836 | 4,109.59 | 6,600,000 | 0 | |||||||||||||||||||||||||||
Jul-11 | 107,341 | 127,397 | 234,738 | 30,643,836 | 30,771,233 | 4,109.59 | 6,600,000 | 0 | ||||||||||||||||||||||||
Aug-11 | 108,682 | 127,397 | 470,818 | 30,771,233 | 30,898,630 | 4,109.59 | 6,600,000 | 0 | ||||||||||||||||||||||||
Sep-11 | 108,682 | 123,288 | 702,788 | 30,898,630 | 31,021,918 | 4,109.59 | 6,600,000 | 0 | ||||||||||||||||||||||||
Oct-11 | 108,682 | 127,397 | 938,867 | 31,021,918 | 31,149,315 | 4,109.59 | 6,600,000 | 0 | ||||||||||||||||||||||||
Nov-11 | 110,041 | 123,288 | 1,172,196 | 31,149,315 | 31,272,603 | 4,109.59 | 6,600,000 | 0 | ||||||||||||||||||||||||
Dec-11 | 110,041 | 127,397 | 1,409,634 | 31,272,603 | 31,400,000 | 4,109.59 | 6,600,000 | 0 | ||||||||||||||||||||||||
Jan-12 | 110,041 | 169,399 | 1,689,074 | 31,400,000 | 31,569,399 | 5,464.48 | 6,600,000 | 0 | ||||||||||||||||||||||||
Feb-12 | 111,416 | 158,470 | 1,958,960 | 31,569,399 | 31,727,869 | 5,464.48 | 6,600,000 | 0 | ||||||||||||||||||||||||
Mar-12 | 111,416 | 169,399 | 2,239,776 | 31,727,869 | 31,897,268 | 5,464.48 | 6,600,000 | 0 | ||||||||||||||||||||||||
Apr-12 | 111,416 | 163,934 | 2,515,127 | 31,897,268 | 32,061,202 | 5,464.48 | 6,600,000 | 0 | ||||||||||||||||||||||||
May-12 | 112,809 | 169,399 | 2,797,335 | 32,061,202 | 32,230,601 | 5,464.48 | 6,600,000 | 0 | ||||||||||||||||||||||||
Jun-12 | 112,809 | 163,934 | 3,074,078 | 32,230,601 | 32,394,536 | 5,464.48 | 6,600,000 | 0 | ||||||||||||||||||||||||
Jul-12 | 112,809 | 169,399 | 3,356,286 | 32,394,536 | 32,563,934 | 5,464.48 | 6,600,000 | 0 | ||||||||||||||||||||||||
Aug-12 | 114,219 | 169,399 | 3,639,905 | 32,563,934 | 32,733,333 | 5,464.48 | 6,600,000 | 0 | ||||||||||||||||||||||||
Sep-12 | 114,219 | 163,934 | 3,918,058 | 32,733,333 | 32,897,268 | 5,464.48 | 6,600,000 | 0 | ||||||||||||||||||||||||
Oct-12 | 114,219 | 169,399 | 4,201,677 | 32,897,268 | 33,066,667 | 5,464.48 | 6,600,000 | 0 | ||||||||||||||||||||||||
Nov-12 | 115,647 | 163,934 | 4,481,258 | 33,066,667 | 33,230,601 | 5,464.48 | 6,600,000 | 0 | ||||||||||||||||||||||||
Dec-12 | 115,647 | 169,399 | 4,766,304 | 33,230,601 | 33,400,000 | 5,464.48 | 6,600,000 | 0 | ||||||||||||||||||||||||
Jan-13 | 115,647 | 178,356 | 5,060,307 | 33,400,000 | 33,578,356 | 5,753.42 | 6,305,997 | 294,003 | ||||||||||||||||||||||||
Feb-13 | 117,093 | 161,096 | 5,338,496 | 33,578,356 | 33,739,452 | 5,753.42 | 6,027,808 | 278,189 | ||||||||||||||||||||||||
Mar-13 | 117,093 | 178,356 | 5,633,944 | 33,739,452 | 33,917,808 | 5,753.42 | 5,732,360 | 295,449 | ||||||||||||||||||||||||
Apr-13 | 117,093 | 172,603 | 5,923,640 | 33,917,808 | 34,090,411 | 5,753.42 | 5,442,664 | 289,695 | ||||||||||||||||||||||||
May-13 | 118,556 | 178,356 | 6,220,552 | 34,090,411 | 34,268,767 | 5,753.42 | 5,145,752 | 296,912 | ||||||||||||||||||||||||
Jun-13 | 118,556 | 172,603 | 6,511,711 | 34,268,767 | 34,441,370 | 5,753.42 | 4,854,593 | 291,159 | ||||||||||||||||||||||||
Jul-13 | 118,556 | 178,356 | 6,808,624 | 34,441,370 | 34,619,726 | 5,753.42 | 4,557,680 | 296,912 | ||||||||||||||||||||||||
Aug-13 | 120,038 | 178,356 | 7,107,018 | 34,619,726 | 34,798,082 | 5,753.42 | 4,259,286 | 298,394 | ||||||||||||||||||||||||
Sep-13 | 120,038 | 172,603 | 7,399,659 | 34,798,082 | 34,970,685 | 5,753.42 | 3,966,645 | 292,641 | ||||||||||||||||||||||||
Oct-13 | 120,038 | 178,356 | 7,698,053 | 34,970,685 | 35,149,041 | 5,753.42 | 3,668,251 | 298,394 | ||||||||||||||||||||||||
Nov-13 | 121,539 | 172,603 | 7,992,195 | 35,149,041 | 35,321,644 | 5,753.42 | 3,374,109 | 294,141 | ||||||||||||||||||||||||
Dec-13 | 121,539 | 178,356 | 8,292,090 | 35,321,644 | 35,500,000 | 5,753.42 | 3,074,214 | 299,895 | ||||||||||||||||||||||||
Jan-14 | 121,539 | 195,342 | 8,608,971 | 35,500,000 | 35,695,342 | 6,301.37 | 2,757,333 | 316,881 | ||||||||||||||||||||||||
Feb-14 | 123,058 | 176,438 | 8,908,467 | 35,695,342 | 35,871,781 | 6,301.37 | 2,457,837 | 299,496 | ||||||||||||||||||||||||
Mar-14 | 123,058 | 195,342 | 9,226,867 | 35,871,781 | 36,067,123 | 6,301.37 | 2,139,436 | 318,400 | ||||||||||||||||||||||||
Apr-14 | 123,058 | 189,041 | 9,538,967 | 36,067,123 | 36,256,164 | 6,301.37 | 1,827,337 | 312,099 | ||||||||||||||||||||||||
May-14 | 124,596 | 195,342 | 9,858,905 | 36,256,164 | 36,451,507 | 6,301.37 | 1,507,399 | 319,939 | ||||||||||||||||||||||||
Jun-14 | 124,596 | 189,041 | 10,172,542 | 36,451,507 | 36,640,548 | 6,301.37 | 1,193,762 | 313,637 | ||||||||||||||||||||||||
Jul-14 | 124,596 | 195,342 | 10,492,481 | 36,640,548 | 36,835,890 | 6,301.37 | 873,823 | 319,939 | ||||||||||||||||||||||||
Aug-14 | 126,154 | 195,342 | 10,813,977 | 36,835,890 | 37,031,233 | 6,301.37 | 552,327 | 321,496 | ||||||||||||||||||||||||
Sep-14 | 126,154 | 189,041 | 11,129,172 | 37,031,233 | 37,220,274 | 6,301.37 | 237,132 | 315,195 | ||||||||||||||||||||||||
Oct-14 | 126,154 | 195,342 | 11,450,668 | 37,220,274 | 37,415,616 | 6,301.37 | 0 | 237,132 | ||||||||||||||||||||||||
Nov-14 | 127,731 | 189,041 | 11,767,440 | 37,415,616 | 37,604,658 | 6,301.37 | 0 | 0 | ||||||||||||||||||||||||
Dec-14 | 127,731 | 195,342 | 12,090,513 | 37,604,658 | 37,800,000 | 6,301.37 | 0 | 0 | ||||||||||||||||||||||||
Jan-15 | 127,731 | 212,329 | 12,430,572 | 37,800,000 | 38,012,329 | 6,849.32 | 0 | 0 | ||||||||||||||||||||||||
Feb-15 | 129,327 | 191,781 | 12,751,680 | 38,012,329 | 38,204,110 | 6,849.32 | 0 | 0 | ||||||||||||||||||||||||
Mar-15 | 129,327 | 212,329 | 13,093,336 | 38,204,110 | 38,416,438 | 6,849.32 | 0 | 0 |
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(b) | ||||||||||||||||||||||||||||||||
(a) | Ground | Monthly | Monthly | (a) + (b) | ||||||||||||||||||||||||||||
Ground | Lease | Cumulative | Beginning | Ending | Purchase | Escrow | ||||||||||||||||||||||||||
Lease | Purchase | (a) + (b) | Purchase | Purchase | Per Day | Option | Distribution | |||||||||||||||||||||||||
Month | Payment | Price Δ | Cumulative | Price | Price | Increase | Escrow | Amount | ||||||||||||||||||||||||
Apr-15 | 129,327 | 205,479 | 13,428,142 | 38,416,438 | 38,621,918 | 6,849.32 | 0 | 0 | ||||||||||||||||||||||||
May-15 | 130,944 | 212,329 | 13,771,415 | 38,621,918 | 38,834,247 | 6,849.32 | 0 | 0 | ||||||||||||||||||||||||
Jun-15 | 130,944 | 205,479 | 14,107,838 | 38,834,247 | 39,039,726 | 6,849.32 | 0 | 0 | ||||||||||||||||||||||||
Jul-15 | 130,944 | 212,329 | 14,451,111 | 39,039,726 | 39,252,055 | 6,849.32 | 0 | 0 | ||||||||||||||||||||||||
Aug-15 | 132,581 | 212,329 | 14,796,020 | 39,252,055 | 39,464,384 | 6,849.32 | 0 | 0 | ||||||||||||||||||||||||
Sep-15 | 132,581 | 205,479 | 15,134,080 | 39,464,384 | 39,669,863 | 6,849.32 | 0 | 0 | ||||||||||||||||||||||||
Oct-15 | 132,581 | 212,329 | 15,478,989 | 39,669,863 | 39,882,192 | 6,849.32 | 0 | 0 | ||||||||||||||||||||||||
Nov-15 | 134,238 | 205,479 | 15,818,706 | 39,882,192 | 40,087,671 | 6,849.32 | 0 | 0 | ||||||||||||||||||||||||
Dec-15 | 134,238 | 212,329 | 16,165,273 | 40,087,671 | 40,300,000 | 6,849.32 | 0 | 0 | ||||||||||||||||||||||||
Jan-16 | 134,238 | 220,219 | 16,519,729 | 40,300,000 | 40,520,219 | 7,103.83 | 0 | 0 | ||||||||||||||||||||||||
Feb-16 | 135,916 | 206,011 | 16,861,656 | 40,520,219 | 40,726,230 | 7,103.83 | 0 | 0 | ||||||||||||||||||||||||
Mar-16 | 135,916 | 220,219 | 17,217,790 | 40,726,230 | 40,946,448 | 7,103.83 | 0 | 0 | ||||||||||||||||||||||||
Apr-16 | 135,916 | 213,115 | 17,566,821 | 40,946,448 | 41,159,563 | 7,103.83 | 0 | 0 | ||||||||||||||||||||||||
May-16 | 137,615 | 220,219 | 17,924,654 | 41,159,563 | 41,379,781 | 7,103.83 | 0 | 0 | ||||||||||||||||||||||||
Jun-16 | 137,615 | 213,115 | 18,275,384 | 41,379,781 | 41,592,896 | 7,103.83 | 0 | 0 | ||||||||||||||||||||||||
Jul-16 | 137,615 | 220,219 | 18,633,217 | 41,592,896 | 41,813,115 | 7,103.83 | 0 | 0 | ||||||||||||||||||||||||
Aug-16 | 139,335 | 220,219 | 18,992,771 | 41,813,115 | 42,033,333 | 7,103.83 | 0 | 0 | ||||||||||||||||||||||||
Sep-16 | 139,335 | 213,115 | 19,345,220 | 42,033,333 | 42,246,448 | 7,103.83 | 0 | 0 | ||||||||||||||||||||||||
Oct-16 | 139,335 | 220,219 | 19,704,774 | 42,246,448 | 42,466,667 | 7,103.83 | 0 | 0 | ||||||||||||||||||||||||
Nov-16 | 141,077 | 213,115 | 20,058,965 | 42,466,667 | 42,679,781 | 7,103.83 | 0 | 0 | ||||||||||||||||||||||||
Dec-16 | 141,077 | 220,219 | 20,420,260 | 42,679,781 | 42,900,000 | 7,103.83 | 0 | 0 | ||||||||||||||||||||||||
Jan-17 | 141,077 | 246,301 | 20,807,638 | 42,900,000 | 43,146,301 | 7,945.21 | 0 | 0 | ||||||||||||||||||||||||
Feb-17 | 142,840 | 222,466 | 21,172,944 | 43,146,301 | 43,368,767 | 7,945.21 | 0 | 0 | ||||||||||||||||||||||||
Mar-17 | 142,840 | 246,301 | 21,562,085 | 43,368,767 | 43,615,068 | 7,945.21 | 0 | 0 | ||||||||||||||||||||||||
Apr-17 | 142,840 | 238,356 | 21,943,282 | 43,615,068 | 43,853,425 | 7,945.21 | 0 | 0 | ||||||||||||||||||||||||
May-17 | 159,453 | 246,301 | 22,349,036 | 43,853,425 | 44,099,726 | 7,945.21 | 0 | 0 | ||||||||||||||||||||||||
Jun-17 | 159,453 | 238,356 | 22,746,846 | 44,099,726 | 44,338,082 | 7,945.21 | 0 | 0 | ||||||||||||||||||||||||
Jul-17 | 159,453 | 246,301 | 23,152,601 | 44,338,082 | 44,584,384 | 7,945.21 | 0 | 0 | ||||||||||||||||||||||||
Aug-17 | 161,257 | 246,301 | 23,560,160 | 44,584,384 | 44,830,685 | 7,945.21 | 0 | 0 | ||||||||||||||||||||||||
Sep-17 | 161,257 | 238,356 | 23,959,773 | 44,830,685 | 45,069,041 | 7,945.21 | 0 | 0 | ||||||||||||||||||||||||
Oct-17 | 161,257 | 246,301 | 24,367,332 | 45,069,041 | 45,315,342 | 7,945.21 | 0 | 0 | ||||||||||||||||||||||||
Nov-17 | 163,082 | 238,356 | 24,768,770 | 45,315,342 | 45,553,699 | 7,945.21 | 0 | 0 | ||||||||||||||||||||||||
Dec-17 | 163,082 | 246,301 | 25,178,154 | 45,553,699 | 45,800,000 | 7,945.21 | 0 | 0 | ||||||||||||||||||||||||
Jan-18 | 163,082 | 254,795 | 25,596,031 | 45,800,000 | 46,054,795 | 8,219.18 | 0 | 0 | ||||||||||||||||||||||||
Feb-18 | 164,928 | 230,137 | 25,991,096 | 46,054,795 | 46,284,932 | 8,219.18 | 0 | 0 | ||||||||||||||||||||||||
Mar-18 | 164,928 | 254,795 | 26,410,818 | 46,284,932 | 46,539,726 | 8,219.18 | 0 | 0 | ||||||||||||||||||||||||
Apr-18 | 164,928 | 246,575 | 26,822,321 | 46,539,726 | 46,786,301 | 8,219.18 | 0 | 0 | ||||||||||||||||||||||||
May-18 | 166,795 | 254,795 | 27,243,910 | 46,786,301 | 47,041,096 | 8,219.18 | 0 | 0 | ||||||||||||||||||||||||
Jun-18 | 166,795 | 246,575 | 27,657,280 | 47,041,096 | 47,287,671 | 8,219.18 | 0 | 0 | ||||||||||||||||||||||||
Jul-18 | 166,795 | 254,795 | 28,078,870 | 47,287,671 | 47,542,466 | 8,219.18 | 0 | 0 | ||||||||||||||||||||||||
Aug-18 | 168,683 | 254,795 | 28,502,347 | 47,542,466 | 47,797,260 | 8,219.18 | 0 | 0 | ||||||||||||||||||||||||
Sep-18 | 168,683 | 246,575 | 28,917,605 | 47,797,260 | 48,043,836 | 8,219.18 | 0 | 0 | ||||||||||||||||||||||||
Oct-18 | 168,683 | 254,795 | 29,341,082 | 48,043,836 | 48,298,630 | 8,219.18 | 0 | 0 | ||||||||||||||||||||||||
Nov-18 | 170,593 | 246,575 | 29,758,250 | 48,298,630 | 48,545,205 | 8,219.18 | 0 | 0 | ||||||||||||||||||||||||
Dec-18 | 170,593 | 254,795 | 30,183,638 | 48,545,205 | 48,800,000 | 8,219.18 | 0 | 0 | ||||||||||||||||||||||||
Jan-19 | 170,593 | 280,274 | 30,634,504 | 48,800,000 | 49,080,274 | 9,041.10 | 0 | 0 | ||||||||||||||||||||||||
Feb-19 | 172,524 | 253,151 | 31,060,179 | 49,080,274 | 49,333,425 | 9,041.10 | 0 | 0 | ||||||||||||||||||||||||
Mar-19 | 192,714 | 280,274 | 31,533,167 | 49,333,425 | 49,613,699 | 9,041.10 | 0 | 0 | ||||||||||||||||||||||||
Apr-19 | 192,714 | 271,233 | 31,997,114 | 49,613,699 | 49,884,932 | 9,041.10 | 0 | 0 | ||||||||||||||||||||||||
May-19 | 194,665 | 280,274 | 32,472,053 | 49,884,932 | 50,165,205 | 9,041.10 | 0 | 0 | ||||||||||||||||||||||||
Jun-19 | 194,665 | 271,233 | 32,937,951 | 50,165,205 | 50,436,438 | 9,041.10 | 0 | 0 | ||||||||||||||||||||||||
Jul-19 | 194,665 | 280,274 | 33,412,890 | 50,436,438 | 50,716,712 | 9,041.10 | 0 | 0 | ||||||||||||||||||||||||
Aug-19 | 196,636 | 280,274 | 33,889,800 | 50,716,712 | 50,996,986 | 9,041.10 | 0 | 0 | ||||||||||||||||||||||||
Sep-19 | 196,636 | 271,233 | 34,357,669 | 50,996,986 | 51,268,219 | 9,041.10 | 0 | 0 | ||||||||||||||||||||||||
Oct-19 | 196,636 | 280,274 | 34,834,579 | 51,268,219 | 51,548,493 | 9,041.10 | 0 | 0 | ||||||||||||||||||||||||
Nov-19 | 198,627 | 271,233 | 35,304,439 | 51,548,493 | 51,819,726 | 9,041.10 | 0 | 0 | ||||||||||||||||||||||||
Dec-19 | 198,627 | 280,274 | 35,783,340 | 51,819,726 | 52,100,000 | 9,041.10 | 0 | 0 |
T-9
Escrowee: | First American Title Insurance Company | |
Escrow Number: | ||
Escrow Officer: | First American Title Insurance Company 30 N. LaSalle Street Suite 2700 Chicago, IL 60602 Phone: Email: | |
Seller: | Colony Cove SPE, LLC | |
Attorney for Seller: | Nancy Nagel, Esq., of counsel Fox, Hefter, Swibel, Levin & Carroll, LLP c/o Hometown America 150 N. Wacker Drive, Suite 2800 Chicago, IL 60606 nnagel@hometownamerica.net | |
Purchaser: | MHC Operating Limited Partnership | |
Attorney for Purchaser: | Daniel J. Perlman Paul, Hastings, Janofsky & Walker LLP 191 N. Wacker Drive 30th Floor Chicago, IL 60606 Phone: 312-499-6090 Email: danielperlman@paulhastings.com | |
Closing Date: | To be determined | |
Property: | The real property listed onExhibit A (the “Property”) |
T-1-1
T-1-2
T-1-3
T-1-4
ESCROWEE: FIRST AMERICAN TITLE INSURANCE COMPANY | ||||
By: | ||||
Name: | ||||
Title: | ||||
SELLER: COLONY COVE SPE LLC, a Delaware limited liability company | ||||
By: | ||||
Name: | ||||
Title: |
PURCHASER: MHC OPERATING LIMITED PARTNERSHIP,an Illinois limited partnership | ||||
By: | MHC Trust, a Maryland real estate investment trust, its general partner |
By: | Equity LifeStyle Properties, Inc., a Maryland corporation, its sole voting shareholder |
By: | ||||
Name: | ||||
Title: |
T-1-5
T-1-6
T-1-7
Ground | Ground | |||||||||||
Lease | Lease | Avg. | ||||||||||
Notes | Notes | Daily | ||||||||||
Beginning | Ending | Amort | ||||||||||
Month | Balance | Balance | Amount | |||||||||
Jun-11 | 2,128,453 | 2,110,284 | 605.63 | |||||||||
Jul-11 | 2,110,284 | 2,091,972 | 590.73 | |||||||||
Aug-11 | 2,091,972 | 2,073,514 | 595.41 | |||||||||
Sep-11 | 2,073,514 | 2,054,910 | 620.13 | |||||||||
Oct-11 | 2,054,910 | 2,036,159 | 604.87 | |||||||||
Nov-11 | 2,036,159 | 2,017,260 | 629.98 | |||||||||
Dec-11 | 2,017,260 | 1,998,210 | 614.49 | |||||||||
Jan-12 | 1,998,210 | 1,979,010 | 619.35 | |||||||||
Feb-12 | 1,979,010 | 1,959,659 | 667.31 | |||||||||
Mar-12 | 1,959,659 | 1,940,153 | 629.20 | |||||||||
Apr-12 | 1,940,153 | 1,920,494 | 655.32 | |||||||||
May-12 | 1,920,494 | 1,900,679 | 639.20 | |||||||||
Jun-12 | 1,900,679 | 1,880,706 | 665.74 | |||||||||
Jul-12 | 1,880,706 | 1,860,576 | 649.36 | |||||||||
Aug-12 | 1,860,576 | 1,840,287 | 654.50 | |||||||||
Sep-12 | 1,840,287 | 1,819,836 | 681.67 | |||||||||
Oct-12 | 1,819,836 | 1,799,224 | 664.91 | |||||||||
Nov-12 | 1,799,224 | 1,778,449 | 692.51 | |||||||||
Dec-12 | 1,778,449 | 1,757,509 | 675.48 | |||||||||
Jan-13 | 1,757,509 | 1,736,404 | 680.82 | |||||||||
Feb-13 | 1,736,404 | 1,715,131 | 759.74 | |||||||||
Mar-13 | 1,715,131 | 1,693,690 | 691.65 | |||||||||
Apr-13 | 1,693,690 | 1,672,079 | 720.36 | |||||||||
May-13 | 1,672,079 | 1,650,298 | 702.64 | |||||||||
Jun-13 | 1,650,298 | 1,628,343 | 731.81 | |||||||||
Jul-13 | 1,628,343 | 1,606,215 | 713.81 | |||||||||
Aug-13 | 1,606,215 | 1,583,912 | 719.46 | |||||||||
Sep-13 | 1,583,912 | 1,561,432 | 749.33 | |||||||||
Oct-13 | 1,561,432 | 1,538,774 | 730.90 | |||||||||
Nov-13 | 1,538,774 | 1,515,937 | 761.24 | |||||||||
Dec-13 | 1,515,937 | 1,492,919 | 742.52 | |||||||||
Jan-14 | 1,492,919 | 1,469,719 | 748.39 | |||||||||
Feb-14 | 1,469,719 | 1,446,335 | 835.14 | |||||||||
Mar-14 | 1,446,335 | 1,422,766 | 760.29 | |||||||||
Apr-14 | 1,422,766 | 1,399,011 | 791.85 | |||||||||
May-14 | 1,399,011 | 1,375,067 | 772.38 | |||||||||
Jun-14 | 1,375,067 | 1,350,934 | 804.44 | |||||||||
Jul-14 | 1,350,934 | 1,326,609 | 784.65 | |||||||||
Aug-14 | 1,326,609 | 1,302,093 | 790.86 | |||||||||
Sep-14 | 1,302,093 | 1,277,382 | 823.70 | |||||||||
Oct-14 | 1,277,382 | 1,252,475 | 803.44 | |||||||||
Nov-14 | 1,252,475 | 1,227,372 | 836.79 | |||||||||
Dec-14 | 1,227,372 | 1,202,069 | 816.21 | |||||||||
Jan-15 | 1,202,069 | 1,176,566 | 822.67 | |||||||||
Feb-15 | 1,176,566 | 1,150,862 | 918.02 | |||||||||
Mar-15 | 1,150,862 | 1,124,954 | 835.75 |
T-1-8
Ground | Ground | |||||||||||
Lease | Lease | Avg. | ||||||||||
Notes | Notes | Daily | ||||||||||
Beginning | Ending | Amort | ||||||||||
Month | Balance | Balance | Amount | |||||||||
Apr-15 | 1,124,954 | 1,098,840 | 870.44 | |||||||||
May-15 | 1,098,840 | 1,072,520 | 849.03 | |||||||||
Jun-15 | 1,072,520 | 1,045,992 | 884.28 | |||||||||
Jul-15 | 1,045,992 | 1,019,254 | 862.53 | |||||||||
Aug-15 | 1,019,254 | 992,304 | 869.36 | |||||||||
Sep-15 | 992,304 | 965,140 | 905.45 | |||||||||
Oct-15 | 965,140 | 937,762 | 883.18 | |||||||||
Nov-15 | 937,762 | 910,166 | 919.84 | |||||||||
Dec-15 | 910,166 | 882,353 | 897.21 | |||||||||
Jan-16 | 882,353 | 854,319 | 904.32 | |||||||||
Feb-16 | 854,319 | 826,063 | 974.34 | |||||||||
Mar-16 | 826,063 | 797,584 | 918.69 | |||||||||
Apr-16 | 797,584 | 768,879 | 956.83 | |||||||||
May-16 | 768,879 | 739,947 | 933.30 | |||||||||
Jun-16 | 739,947 | 710,785 | 972.04 | |||||||||
Jul-16 | 710,785 | 681,393 | 948.13 | |||||||||
Aug-16 | 681,393 | 651,769 | 955.64 | |||||||||
Sep-16 | 651,769 | 621,909 | 995.31 | |||||||||
Oct-16 | 621,909 | 591,814 | 970.83 | |||||||||
Nov-16 | 591,814 | 561,480 | 1,011.13 | |||||||||
Dec-16 | 561,480 | 530,906 | 986.26 | |||||||||
Jan-17 | 530,906 | 500,089 | 994.07 | |||||||||
Feb-17 | 500,089 | 469,029 | 1,109.29 | |||||||||
Mar-17 | 469,029 | 437,723 | 1,009.87 | |||||||||
Apr-17 | 437,723 | 406,169 | 1,051.79 | |||||||||
May-17 | 406,169 | 389,196 | 547.55 | |||||||||
Jun-17 | 389,196 | 372,087 | 570.28 | |||||||||
Jul-17 | 372,087 | 354,843 | 556.25 | |||||||||
Aug-17 | 354,843 | 337,463 | 560.65 | |||||||||
Sep-17 | 337,463 | 319,945 | 583.93 | |||||||||
Oct-17 | 319,945 | 302,289 | 569.57 | |||||||||
Nov-17 | 302,289 | 284,492 | 593.21 | |||||||||
Dec-17 | 284,492 | 266,555 | 578.62 | |||||||||
Jan-18 | 266,555 | 248,476 | 583.20 | |||||||||
Feb-18 | 248,476 | 230,254 | 650.80 | |||||||||
Mar-18 | 230,254 | 211,887 | 592.47 | |||||||||
Apr-18 | 211,887 | 193,375 | 617.07 | |||||||||
May-18 | 193,375 | 174,716 | 601.89 | |||||||||
Jun-18 | 174,716 | 155,910 | 626.88 | |||||||||
Jul-18 | 155,910 | 136,955 | 611.46 | |||||||||
Aug-18 | 136,955 | 117,850 | 616.30 | |||||||||
Sep-18 | 117,850 | �� | 98,593 | 641.88 | ||||||||
Oct-18 | 98,593 | 79,184 | 626.09 | |||||||||
Nov-18 | 79,184 | 59,622 | 652.09 | |||||||||
Dec-18 | 59,622 | 39,904 | 636.05 | |||||||||
Jan-19 | 39,904 | 20,031 | 641.08 | |||||||||
Feb-19 | 20,031 | (0 | ) | 715.39 | ||||||||
Mar-19 | 0 | 0 | 0.00 | |||||||||
Apr-19 | 0 | 0 | 0.00 | |||||||||
May-19 | 0 | 0 | 0.00 | |||||||||
Jun-19 | 0 | 0 | 0.00 | |||||||||
Jul-19 | 0 | 0 | 0.00 | |||||||||
Aug-19 | 0 | 0 | 0.00 | |||||||||
Sep-19 | 0 | 0 | 0.00 | |||||||||
Oct-19 | 0 | 0 | 0.00 | |||||||||
Nov-19 | 0 | 0 | 0.00 | |||||||||
Dec-19 | 0 | 0 | 0.00 |
T-1-9
Escrowee: | First American Title Insurance Company | |
Escrow Number: | ||
Escrow Officer: | ||
First American Title Insurance Company | ||
30 N. LaSalle Street | ||
Suite 2700 | ||
Chicago, IL 60602 | ||
Phone: | ||
Email: | ||
Sellers: | See Preamble | |
Attorney for Sellers: | Daniel J. Perlman | |
Paul, Hastings, Janofsky & Walker LLP | ||
191 N. Wacker Drive | ||
30th Floor | ||
Chicago, IL 60606 | ||
Phone: 312-499-6090 | ||
Email: danielperlman@paulhastings.com | ||
Purchasers: | See Preamble | |
Attorney for Purchasers: | Nancy Nagel | |
Fox, Hefter, Swibel, Levin & Carroll, LLP | ||
c/o Hometown America, L.L.C. | ||
150 North Wacker Drive | ||
Suite 2800 | ||
Chicago, IL 60606 | ||
Phone: (312) 604-7570 | ||
Email: nnagel@hometownamerica.com | ||
Closing Date: | July 1, 2011 | |
Property: | All of the real property listed on Exhibit A (collectively, the “Properties”) |
U-1
U-2
U-3
U-4
U-5
U-6
ESCROWEE: FIRST AMERICAN TITLE INSURANCE COMPANY | ||||
By: | ||||
Name: | ||||
Title: | ||||
SELLERS: APACHE WESTPARK SPE LLC, AUDUBON VILLAGE SPE LLC, TIMBERTON RANCH SPE LLC, HOMETOWN BEACON HILL COLONY, L.L.C., LONG FIELD WOODS SPE LLC, SHADY LANE SPE LLC, HOMETOWN CEDAR KNOLLS, L.L.C., HOMETOWN CHERON, L.L.C., HOMETOWN CHESTERFIELD, L.L.C., HOMETOWN CIMARRON, L.L.C., HOMETOWN CLOVERLEAF PHASE II, L.L.C., HOMETOWN CLOVERLEAF, L.L.C., FOREST ESTATES FSPE LLC, COLONY COVE SPE LLC, COVINGTON ESTATES MHC, L.L.C., DENALI PARK SPE LLC, EMERALD LAKE SPE LLC, HOMETOWN FEATHEROCK, L.L.C., HOMETOWN FERRAND, L.L.C., HOMETOWN HASELTON VILLAGE, L.L.C., HERON CAY MHC, L.L.C., HIDDEN VALLEY SPE LLC, EAST LANE RANCH ESTATES SPE LLC, HOMETOWN HOOSIER ESTATES, L.L.C., HOMETOWN LAKE WORTH, L.L.C., LAKELAND HARBOR SPE LLC, LAKELAND JUNCTION SPE LLC, PARKWOOD BRANCH TERRACE SPE LLC, HOMETOWN LI’L WOLF, L.L.C., LOS RANCHOS FSPE LLC, HOMETOWN MACOMB, L.L.C., MEADOW PARK SPE LLC, HOMETOWN MOUNTAIN VIEW, L.L.C., |
U-7
HOMETOWN NORTH GLEN, L.L.C., PALM BEACH SPE LLC, HOMETOWN PEPPERMINT WOODS, L.L.C., PINE RIDGE MHC, LLC, HOMETOWN RIDGEWOOD, L.L.C., HOMETOWN ROCKFORD RIVERVIEW, L.L.C., HOMETOWN SHENANDOAH ESTATES, L.L.C., HOMETOWN STONEGATE STORAGE, L.L.C., HOMETOWN STONEGATE MANOR, L.L.C., HOMETOWN SUNSHINE VALLEY, L.L.C., SWAN CREEK SPE LLC, VERO PALM MHC, L.L.C., HOMETOWN WEST MEADOW, L.L.C., HOMETOWN WESTBROOK, L.L.C., HOMETOWN WESTPARK EXPANSION, L.L.C., HOMETOWN WHISPERING PINES LARGO, L.L.C., HOMETOWN WILLIAMS ESTATES, LLC, HOMETOWN WOODLANDS, L.L.C., HOMETOWN WOODLANDS PHASE II, L.L.C., MH FINANCIAL SERVICES, L.L.C., and HOMETOWN AMERICA MANAGEMENT, L.L.C. each a Delaware limited liability company for each of the above entities |
By: | ||||
Name: | ||||
Title: |
CWS COMMUNITIES LP, a Delaware limited partnership | ||||
By: | Second Merger Sub, LLC, a Maryland limited liability company, its general partner |
By: | ||||
Name: | ||||
Title: |
U-8
HOMETOWN COMMUNITIES LIMITED PARTNERSHIP, a Maryland limited partnership | ||||
By: | Hometown Communities, LLC, a Maryland limited liability company, its general partner |
By: | ||||
Name: | ||||
Title: |
CWS GREENBRIAR LP, a Delaware limited partnership | ||||
By: | CWS Greenbriar LLC, a Delaware limited liability company, its general partner |
By: | ||||
Name: | ||||
Title: |
HOMETOWN LAKE VILLAGE, L.P., a Delaware limited partnership | ||||
By: | Hometown Lake Village GP, L.L.C., a Delaware limited liability company, its general partner |
By: | ||||
Name: | ||||
Title: |
N’TANDEM PROPERTIES, L.P., a Delaware limited partnership | ||||
By: | Keystone Properties LLC, a Delaware limited liability company, its general partner |
By: | ||||
Name: | ||||
Title: |
U-9
N’TANDEM REAL ESTATE HOLDINGS, LLC, a Maryland limited liability company | ||||
By: | ||||
Name: | ||||
Title: | ||||
MH FINANCIAL SERVICES, L.L.C., a Delaware limited liability company; HOMETOWN AMERICA MANAGEMENT, L.L.C., a Delaware limited liability company; HOMETOWN AMERICA MANAGEMENT CORP., a Delaware corporation For each such entity above, | ||||
By: | ||||
Name: | ||||
Its: | ||||
HOMETOWN AMERICA MANAGEMENT, L.P., a Delaware limited partnership, BY: Hometown America Management Corp., its Sole General Partner; |
By: | ||||
Name: | ||||
Its: |
U-10
PURCHASERS: MHC OPERATING LIMITED PARTNERSHIP, an Illinois limited partnership | ||||
By: | MHC Trust, a Maryland real estate investment trust, its general partner |
By: | Equity LifeStyle Properties, Inc., a Maryland corporation, its sole voting shareholder |
By: | ||||
Name: | ||||
Title: |
REALTY SYSTEMS, INC., a Delaware corporation | ||||
By: | ||||
Name: | ||||
Title: |
U-11
PROPERTIES
Property Name | Street Address | City | State | Sellers | Purchasers | Proforma No. | ||||||
U-12
CLOSING STATEMENT
(See Attached)
U-13
V-1
V-2-
V-3-
Schedule
2(D)-1
(b) | ||||||||||||||||||||||||||||||||
(a) | Ground | Monthly | Monthly | (a) + (b) | ||||||||||||||||||||||||||||
Ground | Lease | Cumulative | Beginning | Ending | Purchase | Escrow | ||||||||||||||||||||||||||
Lease | Purchase | (a) + (b) | Purchase | Purchase | Per Day | Option | Distribution | |||||||||||||||||||||||||
Month | Payment | Price ∆ | Cumulative | Price | Price | Increase | Escrow | Amount | ||||||||||||||||||||||||
Jun-11 | 30,520,548 | 30,643,836 | 4,109.59 | 6,600,000 | 0 | |||||||||||||||||||||||||||
Jul-11 | 107,341 | 127,397 | 234,738 | 30,643,836 | 30,771,233 | 4,109.59 | 6,600,000 | 0 | ||||||||||||||||||||||||
Aug-11 | 108,682 | 127,397 | 470,818 | 30,771,233 | 30,898,630 | 4,109.59 | 6,600,000 | 0 | ||||||||||||||||||||||||
Sep-11 | 108,682 | 123,288 | 702,788 | 30,898,630 | 31,021,918 | 4,109.59 | 6,600,000 | 0 | ||||||||||||||||||||||||
Oct-11 | 108,682 | 127,397 | 938,867 | 31,021,918 | 31,149,315 | 4,109.59 | 6,600,000 | 0 | ||||||||||||||||||||||||
Nov-11 | 110,041 | 123,288 | 1,172,196 | 31,149,315 | 31,272,603 | 4,109.59 | 6,600,000 | 0 | ||||||||||||||||||||||||
Dec-11 | 110,041 | 127,397 | 1,409,634 | 31,272,603 | 31,400,000 | 4,109.59 | 6,600,000 | 0 | ||||||||||||||||||||||||
Jan-12 | 110,041 | 169,399 | 1,689,074 | 31,400,000 | 31,569,399 | 5,464.48 | 6,600,000 | 0 | ||||||||||||||||||||||||
Feb-12 | 111,416 | 158,470 | 1,958,960 | 31,569,399 | 31,727,869 | 5,464.48 | 6,600,000 | 0 | ||||||||||||||||||||||||
Mar-12 | 111,416 | 169,399 | 2,239,776 | 31,727,869 | 31,897,268 | 5,464.48 | 6,600,000 | 0 | ||||||||||||||||||||||||
Apr-12 | 111,416 | 163,934 | 2,515,127 | 31,897,268 | 32,061,202 | 5,464.48 | 6,600,000 | 0 | ||||||||||||||||||||||||
May-12 | 112,809 | 169,399 | 2,797,335 | 32,061,202 | 32,230,601 | 5,464.48 | 6,600,000 | 0 | ||||||||||||||||||||||||
Jun-12 | 112,809 | 163,934 | 3,074,078 | 32,230,601 | 32,394,536 | 5,464.48 | 6,600,000 | 0 | ||||||||||||||||||||||||
Jul-12 | 112,809 | 169,399 | 3,356,286 | 32,394,536 | 32,563,934 | 5,464.48 | 6,600,000 | 0 | ||||||||||||||||||||||||
Aug-12 | 114,219 | 169,399 | 3,639,905 | 32,563,934 | 32,733,333 | 5,464.48 | 6,600,000 | 0 | ||||||||||||||||||||||||
Sep-12 | 114,219 | 163,934 | 3,918,058 | 32,733,333 | 32,897,268 | 5,464.48 | 6,600,000 | 0 | ||||||||||||||||||||||||
Oct-12 | 114,219 | 169,399 | 4,201,677 | 32,897,268 | 33,066,667 | 5,464.48 | 6,600,000 | 0 | ||||||||||||||||||||||||
Nov-12 | 115,647 | 163,934 | 4,481,258 | 33,066,667 | 33,230,601 | 5,464.48 | 6,600,000 | 0 | ||||||||||||||||||||||||
Dec-12 | 115,647 | 169,399 | 4,766,304 | 33,230,601 | 33,400,000 | 5,464.48 | 6,600,000 | 0 | ||||||||||||||||||||||||
Jan-13 | 115,647 | 178,356 | 5,060,307 | 33,400,000 | 33,578,356 | 5,753.42 | 6,305,997 | 294,003 | ||||||||||||||||||||||||
Feb-13 | 117,093 | 161,096 | 5,338,496 | 33,578,356 | 33,739,452 | 5,753.42 | 6,027,808 | 278,189 | ||||||||||||||||||||||||
Mar-13 | 117,093 | 178,356 | 5,633,944 | 33,739,452 | 33,917,808 | 5,753.42 | 5,732,360 | 295,449 | ||||||||||||||||||||||||
Apr-13 | 117,093 | 172,603 | 5,923,640 | 33,917,808 | 34,090,411 | 5,753.42 | 5,442,664 | 289,695 | ||||||||||||||||||||||||
May-13 | 118,556 | 178,356 | 6,220,552 | 34,090,411 | 34,268,767 | 5,753.42 | 5,145,752 | 296,912 | ||||||||||||||||||||||||
Jun-13 | 118,556 | 172,603 | 6,511,711 | 34,268,767 | 34,441,370 | 5,753.42 | 4,854,593 | 291,159 | ||||||||||||||||||||||||
Jul-13 | 118,556 | 178,356 | 6,808,624 | 34,441,370 | 34,619,726 | 5,753.42 | 4,557,680 | 296,912 | ||||||||||||||||||||||||
Aug-13 | 120,038 | 178,356 | 7,107,018 | 34,619,726 | 34,798,082 | 5,753.42 | 4,259,286 | 298,394 | ||||||||||||||||||||||||
Sep-13 | 120,038 | 172,603 | 7,399,659 | 34,798,082 | 34,970,685 | 5,753.42 | 3,966,645 | 292,641 | ||||||||||||||||||||||||
Oct-13 | 120,038 | 178,356 | 7,698,053 | 34,970,685 | 35,149,041 | 5,753.42 | 3,668,251 | 298,394 | ||||||||||||||||||||||||
Nov-13 | 121,539 | 172,603 | 7,992,195 | 35,149,041 | 35,321,644 | 5,753.42 | 3,374,109 | 294,141 | ||||||||||||||||||||||||
Dec-13 | 121,539 | 178,356 | 8,292,090 | 35,321,644 | 35,500,000 | 5,753.42 | 3,074,214 | 299,895 | ||||||||||||||||||||||||
Jan-14 | 121,539 | 195,342 | 8,608,971 | 35,500,000 | 35,695,342 | 6,301.37 | 2,757,333 | 316,881 | ||||||||||||||||||||||||
Feb-14 | 123,058 | 176,438 | 8,908,467 | 35,695,342 | 35,871,781 | 6,301.37 | 2,457,837 | 299,496 | ||||||||||||||||||||||||
Mar-14 | 123,058 | 195,342 | 9,226,867 | 35,871,781 | 36,067,123 | 6,301.37 | 2,139,436 | 318,400 | ||||||||||||||||||||||||
Apr-14 | 123,058 | 189,041 | 9,538,967 | 36,067,123 | 36,256,164 | 6,301.37 | 1,827,337 | 312,099 | ||||||||||||||||||||||||
May-14 | 124,596 | 195,342 | 9,858,905 | 36,256,164 | 36,451,507 | 6,301.37 | 1,507,399 | 319,939 | ||||||||||||||||||||||||
Jun-14 | 124,596 | 189,041 | 10,172,542 | 36,451,507 | 36,640,548 | 6,301.37 | 1,193,762 | 313,637 | ||||||||||||||||||||||||
Jul-14 | 124,596 | 195,342 | 10,492,481 | 36,640,548 | 36,835,890 | 6,301.37 | 873,823 | 319,939 | ||||||||||||||||||||||||
Aug-14 | 126,154 | 195,342 | 10,813,977 | 36,835,890 | 37,031,233 | 6,301.37 | 552,327 | 321,496 | ||||||||||||||||||||||||
Sep-14 | 126,154 | 189,041 | 11,129,172 | 37,031,233 | 37,220,274 | 6,301.37 | 237,132 | 315,195 | ||||||||||||||||||||||||
Oct-14 | 126,154 | 195,342 | 11,450,668 | 37,220,274 | 37,415,616 | 6,301.37 | 0 | 237,132 | ||||||||||||||||||||||||
Nov-14 | 127,731 | 189,041 | 11,767,440 | 37,415,616 | 37,604,658 | 6,301.37 | 0 | 0 | ||||||||||||||||||||||||
Dec-14 | 127,731 | 195,342 | 12,090,513 | 37,604,658 | 37,800,000 | 6,301.37 | 0 | 0 | ||||||||||||||||||||||||
Jan-15 | 127,731 | 212,329 | 12,430,572 | 37,800,000 | 38,012,329 | 6,849.32 | 0 | 0 | ||||||||||||||||||||||||
Feb-15 | 129,327 | 191,781 | 12,751,680 | 38,012,329 | 38,204,110 | 6,849.32 | 0 | 0 | ||||||||||||||||||||||||
Mar-15 | 129,327 | 212,329 | 13,093,336 | 38,204,110 | 38,416,438 | 6,849.32 | 0 | 0 |
Schedule
2(D)-2-
(b) | ||||||||||||||||||||||||||||||||
(a) | Ground | Monthly | Monthly | (a) + (b) | ||||||||||||||||||||||||||||
Ground | Lease | Cumulative | Beginning | Ending | Purchase | Escrow | ||||||||||||||||||||||||||
Lease | Purchase | (a) + (b) | Purchase | Purchase | Per Day | Option | Distribution | |||||||||||||||||||||||||
Month | Payment | Price Δ | Cumulative | Price | Price | Increase | Escrow | Amount | ||||||||||||||||||||||||
Apr-15 | 129,327 | 205,479 | 13,428,142 | 38,416,438 | 38,621,918 | 6,849.32 | 0 | 0 | ||||||||||||||||||||||||
May-15 | 130,944 | 212,329 | 13,771,415 | 38,621,918 | 38,834,247 | 6,849.32 | 0 | 0 | ||||||||||||||||||||||||
Jun-15 | 130,944 | 205,479 | 14,107,838 | 38,834,247 | 39,039,726 | 6,849.32 | 0 | 0 | ||||||||||||||||||||||||
Jul-15 | 130,944 | 212,329 | 14,451,111 | 39,039,726 | 39,252,055 | 6,849.32 | 0 | 0 | ||||||||||||||||||||||||
Aug-15 | 132,581 | 212,329 | 14,796,020 | 39,252,055 | 39,464,384 | 6,849.32 | 0 | 0 | ||||||||||||||||||||||||
Sep-15 | 132,581 | 205,479 | 15,134,080 | 39,464,384 | 39,669,863 | 6,849.32 | 0 | 0 | ||||||||||||||||||||||||
Oct-15 | 132,581 | 212,329 | 15,478,989 | 39,669,863 | 39,882,192 | 6,849.32 | 0 | 0 | ||||||||||||||||||||||||
Nov-15 | 134,238 | 205,479 | 15,818,706 | 39,882,192 | 40,087,671 | 6,849.32 | 0 | 0 | ||||||||||||||||||||||||
Dec-15 | 134,238 | 212,329 | 16,165,273 | 40,087,671 | 40,300,000 | 6,849.32 | 0 | 0 | ||||||||||||||||||||||||
Jan-16 | 134,238 | 220,219 | 16,519,729 | 40,300,000 | 40,520,219 | 7,103.83 | 0 | 0 | ||||||||||||||||||||||||
Feb-16 | 135,916 | 206,011 | 16,861,656 | 40,520,219 | 40,726,230 | 7,103.83 | 0 | 0 | ||||||||||||||||||||||||
Mar-16 | 135,916 | 220,219 | 17,217,790 | 40,726,230 | 40,946,448 | 7,103.83 | 0 | 0 | ||||||||||||||||||||||||
Apr-16 | 135,916 | 213,115 | 17,566,821 | 40,946,448 | 41,159,563 | 7,103.83 | 0 | 0 | ||||||||||||||||||||||||
May-16 | 137,615 | 220,219 | 17,924,654 | 41,159,563 | 41,379,781 | 7,103.83 | 0 | 0 | ||||||||||||||||||||||||
Jun-16 | 137,615 | 213,115 | 18,275,384 | 41,379,781 | 41,592,896 | 7,103.83 | 0 | 0 | ||||||||||||||||||||||||
Jul-16 | 137,615 | 220,219 | 18,633,217 | 41,592,896 | 41,813,115 | 7,103.83 | 0 | 0 | ||||||||||||||||||||||||
Aug-16 | 139,335 | 220,219 | 18,992,771 | 41,813,115 | 42,033,333 | 7,103.83 | 0 | 0 | ||||||||||||||||||||||||
Sep-16 | 139,335 | 213,115 | 19,345,220 | 42,033,333 | 42,246,448 | 7,103.83 | 0 | 0 | ||||||||||||||||||||||||
Oct-16 | 139,335 | 220,219 | 19,704,774 | 42,246,448 | 42,466,667 | 7,103.83 | 0 | 0 | ||||||||||||||||||||||||
Nov-16 | 141,077 | 213,115 | 20,058,965 | 42,466,667 | 42,679,781 | 7,103.83 | 0 | 0 | ||||||||||||||||||||||||
Dec-16 | 141,077 | 220,219 | 20,420,260 | 42,679,781 | 42,900,000 | 7,103.83 | 0 | 0 | ||||||||||||||||||||||||
Jan-17 | 141,077 | 246,301 | 20,807,638 | 42,900,000 | 43,146,301 | 7,945.21 | 0 | 0 | ||||||||||||||||||||||||
Feb-17 | 142,840 | 222,466 | 21,172,944 | 43,146,301 | 43,368,767 | 7,945.21 | 0 | 0 | ||||||||||||||||||||||||
Mar-17 | 142,840 | 246,301 | 21,562,085 | 43,368,767 | 43,615,068 | 7,945.21 | 0 | 0 | ||||||||||||||||||||||||
Apr-17 | 142,840 | 238,356 | 21,943,282 | 43,615,068 | 43,853,425 | 7,945.21 | 0 | 0 | ||||||||||||||||||||||||
May-17 | 159,453 | 246,301 | 22,349,036 | 43,853,425 | 44,099,726 | 7,945.21 | 0 | 0 | ||||||||||||||||||||||||
Jun-17 | 159,453 | 238,356 | 22,746,846 | 44,099,726 | 44,338,082 | 7,945.21 | 0 | 0 | ||||||||||||||||||||||||
Jul-17 | 159,453 | 246,301 | 23,152,601 | 44,338,082 | 44,584,384 | 7,945.21 | 0 | 0 | ||||||||||||||||||||||||
Aug-17 | 161,257 | 246,301 | 23,560,160 | 44,584,384 | 44,830,685 | 7,945.21 | 0 | 0 | ||||||||||||||||||||||||
Sep-17 | 161,257 | 238,356 | 23,959,773 | 44,830,685 | 45,069,041 | 7,945.21 | 0 | 0 | ||||||||||||||||||||||||
Oct-17 | 161,257 | 246,301 | 24,367,332 | 45,069,041 | 45,315,342 | 7,945.21 | 0 | 0 | ||||||||||||||||||||||||
Nov-17 | 163,082 | 238,356 | 24,768,770 | 45,315,342 | 45,553,699 | 7,945.21 | 0 | 0 | ||||||||||||||||||||||||
Dec-17 | 163,082 | 246,301 | 25,178,154 | 45,553,699 | 45,800,000 | 7,945.21 | 0 | 0 | ||||||||||||||||||||||||
Jan-18 | 163,082 | 254,795 | 25,596,031 | 45,800,000 | 46,054,795 | 8,219.18 | 0 | 0 | ||||||||||||||||||||||||
Feb-18 | 164,928 | 230,137 | 25,991,096 | 46,054,795 | 46,284,932 | 8,219.18 | 0 | 0 | ||||||||||||||||||||||||
Mar-18 | 164,928 | 254,795 | 26,410,818 | 46,284,932 | 46,539,726 | 8,219.18 | 0 | 0 | ||||||||||||||||||||||||
Apr-18 | 164,928 | 246,575 | 26,822,321 | 46,539,726 | 46,786,301 | 8,219.18 | 0 | 0 | ||||||||||||||||||||||||
May-18 | 166,795 | 254,795 | 27,243,910 | 46,786,301 | 47,041,096 | 8,219.18 | 0 | 0 | ||||||||||||||||||||||||
Jun-18 | 166,795 | 246,575 | 27,657,280 | 47,041,096 | 47,287,671 | 8,219.18 | 0 | 0 | ||||||||||||||||||||||||
Jul-18 | 166,795 | 254,795 | 28,078,870 | 47,287,671 | 47,542,466 | 8,219.18 | 0 | 0 | ||||||||||||||||||||||||
Aug-18 | 168,683 | 254,795 | 28,502,347 | 47,542,466 | 47,797,260 | 8,219.18 | 0 | 0 | ||||||||||||||||||||||||
Sep-18 | 168,683 | 246,575 | 28,917,605 | 47,797,260 | 48,043,836 | 8,219.18 | 0 | 0 | ||||||||||||||||||||||||
Oct-18 | 168,683 | 254,795 | 29,341,082 | 48,043,836 | 48,298,630 | 8,219.18 | 0 | 0 | ||||||||||||||||||||||||
Nov-18 | 170,593 | 246,575 | 29,758,250 | 48,298,630 | 48,545,205 | 8,219.18 | 0 | 0 | ||||||||||||||||||||||||
Dec-18 | 170,593 | 254,795 | 30,183,638 | 48,545,205 | 48,800,000 | 8,219.18 | 0 | 0 | ||||||||||||||||||||||||
Jan-19 | 170,593 | 280,274 | 30,634,504 | 48,800,000 | 49,080,274 | 9,041.10 | 0 | 0 | ||||||||||||||||||||||||
Feb-19 | 172,524 | 253,151 | 31,060,179 | 49,080,274 | 49,333,425 | 9,041.10 | 0 | 0 | ||||||||||||||||||||||||
Mar-19 | 192,714 | 280,274 | 31,533,167 | 49,333,425 | 49,613,699 | 9,041.10 | 0 | 0 | ||||||||||||||||||||||||
Apr-19 | 192,714 | 271,233 | 31,997,114 | 49,613,699 | 49,884,932 | 9,041.10 | 0 | 0 | ||||||||||||||||||||||||
May-19 | 194,665 | 280,274 | 32,472,053 | 49,884,932 | 50,165,205 | 9,041.10 | 0 | 0 | ||||||||||||||||||||||||
Jun-19 | 194,665 | 271,233 | 32,937,951 | 50,165,205 | 50,436,438 | 9,041.10 | 0 | 0 | ||||||||||||||||||||||||
Jul-19 | 194,665 | 280,274 | 33,412,890 | 50,436,438 | 50,716,712 | 9,041.10 | 0 | 0 | ||||||||||||||||||||||||
Aug-19 | 196,636 | 280,274 | 33,889,800 | 50,716,712 | 50,996,986 | 9,041.10 | 0 | 0 | ||||||||||||||||||||||||
Sep-19 | 196,636 | 271,233 | 34,357,669 | 50,996,986 | 51,268,219 | 9,041.10 | 0 | 0 | ||||||||||||||||||||||||
Oct-19 | 196,636 | 280,274 | 34,834,579 | 51,268,219 | 51,548,493 | 9,041.10 | 0 | 0 | ||||||||||||||||||||||||
Nov-19 | 198,627 | 271,233 | 35,304,439 | 51,548,493 | 51,819,726 | 9,041.10 | 0 | 0 | ||||||||||||||||||||||||
Dec-19 | 198,627 | 280,274 | 35,783,340 | 51,819,726 | 52,100,000 | 9,041.10 | 0 | 0 |
Schedule
2(D)-3-
(1) | Current Rent Roll and true, correct and complete copies of the Leases. |
(2) | List and description of all Service Contracts and true, correct and complete copies thereof. |
(3) | List of tangible Personal Property and copies of the most recently filed personal property tax returns for each Property. |
(4) | Schedule of all insurance policies and copies thereof. |
(5) | Updated Title Commitment and underlying documents with the following endorsements: |
(i) | Extended Coverage; | ||
(ii) | Owner’s Comprehensive; | ||
(iii) | Zoning 3.1 with parking; and | ||
(vii) | Survey. |
(6) | Existing Surveys/Updated Surveys. | |
(7) | Existing environmental, engineering, soil testing, termite inspection and appraisal reports, if any. Reliance Letters for foregoing. | |
(8) | Existing zoning reports. | |
(9) | New zoning letter/zoning reports. | |
(10) | New appraisal reports for the Properties. | |
(11) | Property marketing materials and site maps. | |
(12) | Evidence of compliance with Hart-Scott-Rodino Act. | |
(13) | Regulation S-X Compliance/Audit Letter. | |
(14) | Seller Searches: |
(i) | UCC; | ||
(ii) | Judgment Lien; | ||
(iii) | Federal and State Tax Lien; |
Schedule
3(A)-1
(iv) | Bankruptcy; and | ||
(v) | Pending Litigation. |
(15) | Copies of Certificates of Title to Manufactured Homes. | |
(16) | Copies of Seller financing documents for Manufactured Homes. | |
(17) | Copies of pending sales contracts for Manufactured Homes. | |
(18) | Licensing/Utility Issues (for acquired utility companies). | |
(19) | Existing Loan Documents. |
(i) | Prepayment/Assumption provisions. |
(20) | Copies of recent debt compliance. | |
(21) | Copies of all correspondences with lenders with respect to all loans secured by the Properties for the prior 2 years. | |
(22) | Current mortgage statements with respect to all loans secured by the Properties. | |
(23) | Evidence of compliance by Seller with the Mobile Home Sales Act, Florida Statutes Section 723.071, that the tenants’ rights under Section 723.071 have been extinguished. (Florida properties only). |
(i) | Confirmation that annual filing fees have been paid to the Florida Department of Business and Professional Regulation (the “Department”). | ||
(ii) | Confirmation of approval by the Department of all prospectuses utilized with respect to the Property, and identification of the lots to which each prospectus applies. | ||
(iii) | Confirmation that the applicable prospectus was delivered to each tenant and completed with correct information for such tenant’s lot. | ||
(iv) | Confirmation that Leases are signed and are in the file for the initial term of each tenant, as well as copies of Leases signed for subsequent terms, if any. | ||
(v) | Confirmation that the approved prospectus(es), if approved prior to 1988, have been amended to conform to statutory changes made in 1986 and 1988. | ||
(vi) | Confirmation that records of meetings with the tenants’ negotiation committee for any year in which the rent was contested include a written record of the “material factors” used in establishing the lot rental amount as disclosed to the committee, pursuant to Rule 7D-32.004, Fla. Admin. Code. | ||
(vii) | Confirmation that records of security deposits, if any, are maintained in appropriate accounts pursuant to the requirements of Section 83.49, Florida Statutes. If there are deposits, provisions must be made to transfer those funds to Purchaser at the Closing. |
Schedule
3(A)-2
(viii) | Copies of rental increase notices from May 1, 2010 to the present with confirmation of mailing within ninety-five (95) days of effective date. | ||
(ix) | Confirmation that rental increase notices have been filed with the Department for the years 2010 to the present. | ||
(x) | Confirmation that all advertising that has been used with respect to the Property since 2010 has been filed with the Department. A copy of all advertising used should be made available to Purchaser upon demand. | ||
(xi) | Written confirmation that the homeowners association at the Property was incorporated in accordance with Section 723.075 — 723.079, Florida Statutes. There should be notification by the homeowners association of such incorporation by certified mail, return receipt requested. | ||
(xii) | Written confirmation that any notices of changes in the Property’s rules or regulations, reductions in services or utilities or amendments to the Property’s prospectus(es) have been filed with Department. | ||
(xiii) | Confirmation that Seller has complied with the notice provisions of Section 723.071(1) and (2), Florida Statutes. |
(24) | Blueprints of existing as-builts, including grading, utilities, common area facilities, etc. | |
(25) | Schedule of all contracts relating to miscellaneous revenues (laundry, vending, cable television, etc.) (if different from Service Contracts). | |
(26) | Schedule of current employee titles, salaries and related benefits. Provide job responsibilities for each title. | |
(27) | Turnover report by manufactured home site and tenant for the prior two (2) years. | |
(28) | Copies of all real estate and personal property tax bills for the prior two (2) years and all correspondence relating to said real estate or personal property tax bills. | |
(29) | Schedule of all utility bills with vendor name, account number and payments for the prior two (2) years. | |
(30) | Copies of any annual reports filed with any governmental authority with respect to a utility plant servicing any Property. | |
(31) | Schedule of all current litigation related to the Property or its tenants and correspondence relating to any open litigation or zoning disputes relating to the Property. | |
(32) | Accounts receivable aging report and written description of current collection and late fee policies. | |
(33) | Paid bill files and check registers for review for the prior two (2) years. | |
(34) | Copies of all permits and licenses (front and back), including certificate(s) of occupancy. |
Schedule 3(A)-3
(35) | Copies of all warranties still in effect. | |
(36) | Bank statements for the prior two (2) years for the account where rental revenues are deposited, including related enclosures. | |
(37) | Copies of all operating statements for the Property for any time during the period commencing with the first day of the second full calendar year preceding the date of this Agreement and ending on the Final Closing Date. | |
(38) | General ledger reports for the prior two (2) years. | |
(39) | Rent rolls for each of the prior two (2) years. | |
(40) | Copies of all paid repair and maintenance invoices over $500.00. | |
(41) | Copies of all paid administrative invoices over $500.00. | |
(42) | Tenant correspondence, including rent increase notices, advertisements, tenant applications, tenant reports, tenant work orders or maintenance requests, and security complaints (or security log, if this is the methodology for tracking security complaints/incidents). | |
(43) | Current-year operating and capital budget, if any. | |
(44) | Property personnel files. | |
(45) | Tenant profile report (if available) detailing age, occupation and employer, income, number of members of household, and length of residency. | |
(46) | Copies of state and local sales and/or use tax returns filed for the previous two years. | |
(47) | Internal audit reports on the Properties. | |
(48) | Copies of federal, state and/or local net income, gross income, gross receipt, excise, franchise or payroll tax returns for all entities that own the Properties (collectively, the “Property Owners” and individual, a “Property Owner”) for the prior 2 years. | |
(49) | Monthly occupancy reports for past 2 years. | |
(50) | Evidence of compliance with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008. | |
(51) | Organizational charts showing the complete ownership structure of each Property and Property Owner. | |
(52) | A list of all members and/or partners (whether a limited partner or general partner), as applicable, of the Property Owners, including a description of the ownership percentage or percent interest of each member or partner, as applicable. |
Schedule 3(A)-4
(53) | All partnership agreements, operating agreements and limited liability company agreements of each Property Owner, as applicable, and all amendments thereto. | |
(54) | Current certificates of formation or certificate of limited partnership, as applicable, for each Property Owner certified by the Secretary of State of the state of formation for such Property Owner. | |
(55) | Current certificates of good standing with respect to each Property Owner certified by the Secretary of State of the State of formation for such Property Owner and, in the event that such Property Owner was formed in a State other than the State where such Property Owner’s Property is located, a current certificate of authorization to transact business for such Property Owner (or similar authorization with respect to a foreign entity) certified by the Secretary of State of the State where the applicable Property is located, together with evidence of qualification and a certificate of good standing with respect to such Property Owner certified by the Secretary of State of the State were the Property is located. | |
(56) | Financial statements for each Property Owner which sets forth all of the assets and liabilities (including, without limitation, contingent liabilities) of such Property Owner. | |
(57) | Copies of any annual reports and similar reports filed with any governmental authority (including, without limitation, the Property Owner’s State of formation and the State, county and/or locality where the applicable Property is located) with respect to a Property Owner, as applicable. | |
(58) | A list of all bank accounts, escrow accounts, money market accounts, brokerage accounts and safety deposit accounts of each Property Owner, including, without limitation, the name, address and contact information of the financial institution and the names of all authorized signatories on such accounts. |
Schedule 3(A)-5
Schedule
7(B)(iii)-1