-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, G+6TrQtFt1yuc3BN8js5GBzW1QHHnZWiqbXcEZeiyt5F1xOe137fhQdraVgkO+/W hyTl501DE9MvpbBZF66fyw== 0000711642-10-000124.txt : 20100401 0000711642-10-000124.hdr.sgml : 20100401 20100401144929 ACCESSION NUMBER: 0000711642-10-000124 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20100329 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20100401 DATE AS OF CHANGE: 20100401 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ANGELES INCOME PROPERTIES LTD 6 CENTRAL INDEX KEY: 0000812564 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE [6500] IRS NUMBER: 954106139 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-16210 FILM NUMBER: 10723506 BUSINESS ADDRESS: STREET 1: 1873 SOUTH BELLAIRE STREET 17TH FLOOR CITY: DENVER STATE: CO ZIP: 80222 BUSINESS PHONE: 3037578101 MAIL ADDRESS: STREET 1: 1873 SOUTH BELLAIRE STREET 17TH FLOOR CITY: DENVER STATE: CO ZIP: 80222 8-K 1 aipl6_8k.htm 8K UNITED STATES

                               UNITED STATES

                     SECURITIES AND EXCHANGE COMMISSION

                           Washington, D.C. 20549

 

 

 

 

                                  FORM 8-K

 

 

                               CURRENT REPORT

 

 

                   Pursuant to Section 13 or 15(d) of the

                      Securities Exchange Act of 1934

 

      Date of Report (Date of earliest event reported) March 29, 2010

 

                     ANGELES INCOME PROPERTIES, LTD. 6

           (Exact name of Registrant as specified in its charter)

 

California

0-16210

95-4106139

(State or other jurisdiction

(Commission

(I.R.S. Employer

Of incorporation or

File Number)

Identification Number)

Organization)

 

 

 

                               55 Beattie Place

                             Post Office Box 1089

                       Greenville, South Carolina 29602

                   (Address of principal executive offices)

 

 

                                (864) 239-1000

                          (Issuer's telephone number)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:

 

[ ]   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

[ ]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

[ ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

[ ]   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 


 

Item 1.01   Entry into a Material Definitive Agreement.

 

Angeles Income Properties, Ltd. 6, a California limited partnership (the “Registrant”), owns Homestead Apartments (“Homestead”), a 168-unit apartment complex located in Lansing, Michigan.  As previously disclosed, on October 26, 2009, the Registrant entered into a Purchase and Sale Contract (the “Purchase Contract”) with a third party, Homestead on Lake Lansing, LLC, a Michigan limited liability company (the “Purchaser”), to sell Homestead for a total sales price of $7,000,000. 

 

As previously disclosed, on January 25, 2010, the Purchaser delivered written notice of its election to terminate the Purchase Contract.  Pursuant to its terms, the Purchase Contract was terminated. On February 3, 2010, the Registrant and the Purchaser entered into a Reinstatement and First Amendment to the Purchase and Sale Contract pursuant to which the Purchase Contract was reinstated at the same sales price of $7,000,000. 

 

On March 29, 2010, the Partnership and the Purchaser entered into a Second Amendment to the Purchase and Sale Contract pursuant to which the Registrant agreed to give the Purchaser a credit against the purchase price of $6,000 for capital improvements at Homestead required by the lender.

 

The summary of the terms and conditions of the Second Amendment is qualified in its entirety by reference to the Second Amendment to Purchase and Sale Contract, a copy of which is attached hereto as an exhibit.

 

 

Item 9.01   Financial Statements and Exhibits

 

(d)   Exhibit

 

10.43       Second Amendment to Purchase and Sale Contract between Angeles Income Properties, Ltd. 6, a California limited partnership, and Homestead on Lake Lansing, LLC, a Michigan limited liability company, dated March 29, 2010.

 

 

 

 

 

 

 

 

 

 

 

 

 

 


 

SIGNATURE

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

ANGELES INCOME PROPERTIES, LTD. 6

 

 

By:   Angeles Realty Corporation II

General Partner

 

By:   /s/Stephen B. Waters

Stephen B. Waters

Senior Director of Partnership Accounting

 

 

Date: April 1, 2010

EX-10.43 2 aipl6_ex10z43.htm EXHIBIT 10.43 FIRST AMENDMENT TO PURCHASE AND SALE CONTRACT

Exhibit 10.43

 

SECOND AMENDMENT TO
PURCHASE AND SALE CONTRACT

 

            THIS SECOND AMENDMENT TO PURCHASE AND SALE CONTRACT (this "Second Amendment") is made and entered into this 29th day of March, 2010 (the "Second Amendment Date"), by and among ANGELES INCOME PROPERTIES, LTD. 6, a California limited partnership, having an address at 4582 South Ulster Street Parkway, Suite 1100, Denver, Colorado 80237 ("Seller") and HOMESTEAD ON LAKE LANSING, LLC, a Michigan limited liability company, having a principal address at 1575 Watertower Place, East Lansing, Michigan 48823 ("Purchaser"). 

 

RECITALS:

 

            WHEREAS, Seller and Purchaser entered into that certain Purchase and Sale Contract dated October 26, 2009, as reinstated and amended by that certain Reinstatement and First Amendment to Purchase and Sale Contract dated February 3, 2010 (as amended, the "Contract"), for certain real property situated in the County of Ingham, State of Michigan, commonly known as Homestead Apartments, and more specifically described in the Contract (the "Property"); and

 

            WHEREAS, Seller and Purchaser desire to ratify the Contract and amend the Contract on the terms and conditions set forth below.

 

AGREEMENT:

 

            NOW, THEREFORE, in consideration of the mutual covenants set forth in the Contract and herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Seller and Purchaser agree to amend the Contract as follows:

 

 

1.                  Closing Proration.  Seller and Purchaser agree that Seller shall be entitled to a credit at Closing in an amount equal to Six Thousand Dollars and 00/100 ($6,000.00) for certain work at the Property required by Purchaser's Senior Financing Lender, which credit shall be evidenced in the Proration Schedule.    

2.                  General Provisions.  The following provisions shall apply with respect to this Second Amendment:

(a)                Except as modified herein, the Contract is in full force and effect and is hereby ratified by Purchaser and Seller. 

(b)               Capitalized terms used, but not otherwise defined, herein shall have the same meaning as ascribed to such terms in the Contract.

(c)                In the event of any conflict between the Contract and this Second Amendment, the terms and conditions of this Second Amendment shall control.

(d)               This Second Amendment may be executed in counterparts, each of which (or any combination of which) when signed by all of the parties shall be deemed an original, but all of which when taken together shall constitute one agreement.  Executed copies hereof may be delivered by telecopier or electronic mail and upon receipt shall be deemed originals and binding upon the parties hereto, and actual originals shall be promptly delivered thereafter.


            NOW, THEREFORE, the parties hereto have executed this Second Amendment as of the Second Amendment Date.

 

 

SELLER:

 

ANGELES INCOME PROPERTIES, LTD. 6,

a California limited partnership

 

By:       ANGELES REALTY CORPORATION II,

            a California corporation,

            its general partner

 

            By:       /s/John Spiegleman

            Name:  John Spiegleman

            Title:     Senior Vice President

 

 

 


 

PURCHASER:

 

 

HOMESTEAD ON LAKE LANSING, LLC,

a Michigan limited liability company

 

By: /s/James F. Anderton, IV

Name:  James F. Anderton, IV

Title:     Managing Member, Maplegrove Property Management, LLC

                                                                        Manager of Homestead on Lake Lansing, LLC

 

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