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NORTH CAROLINA ASSIGNMENT OF CONTRACT
<br /> LEE COUNTY FOR PURCHASE AND SALE OF REAL
<br /> PROPERTY
<br /> THIS ASSIGNMENT OF CONTRACT FOR PURCHASE AND SALE OF REAL PROPERTY AGREEMENT,made
<br /> and entered into this l%hday of April,2021,by and between FORGE INVESTMENT GROUP,LLC,,a North
<br /> Carolina limited liability company,party of the first part hereinafter referred to as"Assignor", and MAD M&R,LLC,a
<br /> North Carolina Limited Liability Group,and COUNTY OF LEE,a political subdivision of the State of North Carolina
<br /> and a body both politic and corporate under the laws of the State of North Carolina a,parties of the second part
<br /> hereinafter referred to as"Assignees".
<br /> WITNESSETH:
<br /> WHEREAS,on or about the 31st day of March,2021,Assignor executed a Contract For Purchase and Sale of Real
<br /> Property with Marelli North Carolina USA,LLC,a Delaware limited liability company as Seller for multiple tracts of
<br /> land located on Nash Street and Broadway Road subject to those terms and conditions set forth therein and attached
<br /> hereto(a copy of the original Contract for Purchase and Sale of Real Property is attached hereto as Exhibit A);and
<br /> Whereas,on or about the 8h day of April,2021,Assignor executed a Lease to allow Seller to rent a portion of the
<br /> property from Assignor post Closing subject to those terms and conditions set forth therein and attached hereto(a copy of
<br /> the original signed lease is attached hereto as Exhibit B)
<br /> WHEREAS,the Contract for Purchase and Sale of Real Property and Lease and all amendments thereto are hereinafter
<br /> collectively referred to as the"Agreement";and
<br /> WHEREAS,the Assignor does desire to assign its right to purchase multiple tracts of land located on Nash Street and
<br /> Broadway Road, Lee County,NC to the Assignees as further delineated hereinbelow as follows:
<br /> a) County of Lee is being assigned the rights and obligations of Buyer under the Contract For Purchase and Sale of
<br /> Real Property for that portion of the land and buildings being sold within an approximate area of that 22+/-acres
<br /> as identified on Exhibit C,pending the completion of a mutually agreeable survey.At the time of Closing the
<br /> County of Lee is paying$7,100,000.00 of the$8,100,000.00 purchase price under the aforementioned contract.
<br /> b) MAD M&R,LLC, is being assigned the rights and obligations of Buyer under the Contract For Purchase and
<br /> Sale of Real Property for that portion of the land and buildings being sold within an approximate area of that
<br /> 68+/-acres as identified on Exhibit C,pending the completion of a mutually agreeable survey.At the time of
<br /> Closing MAD M&R,LLC is paying$1,000,000.00 of the$8,100,000.00 purchase price under the
<br /> aforementioned contract.
<br /> c) County of Lee is being assigned the rights and obligations of the Landlord under the aforementioned Lease and
<br /> County of Lee shall receive the lease payments due to the landlord thereunder.
<br /> NOW, THEREFORE,the Assignor,for and in consideration of the sum of Ten Dollars($10.00)and other good and
<br /> valuable consideration paid by Assignees,the receipt of which is hereby acknowledged,has assigned,transferred and
<br /> conveyed and by these presents does hereby assign,transfer and convey unto the Assignees, its heirs and assigns,all of
<br /> Assignor's right, in and to by virtue of the provisions of the above-referenced Contract and Lease between Forge
<br /> Investment Group LLC,therein designated as Buyer,and Marelli North Carolina USA,LLC,a Delaware limited liability
<br /> company,therein designated as Seller,for the purchase of land on Nash Street and Broadway Road, Lee County, NC. The
<br /> rights and obligations of the Assignees shall be as follows:
<br /> a) County of Lee is being assigned the rights and obligations of Buyer under the Contract For Purchase and Sale of
<br /> Real Property for that portion of the land and buildings being sold within an approximate area of that 22+/-acres
<br /> as identified on Exhibit C, pending the completion of a mutually agreeable survey.At the time of Closing the
<br /> County of Lee is paying$7,100,000.00 of the$8,100,000.00 purchase price under the aforementioned contract.
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