-----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, VAHLlKbF/PdA+0/9wNK0+hPvCRyVUB94eQOOTytswi4pgc0yca4h5wcdIsZKbt// rdOl8+0SNW6xeB2QuyuMzQ== 0000711642-10-000197.txt : 20100518 0000711642-10-000197.hdr.sgml : 20100518 20100518151448 ACCESSION NUMBER: 0000711642-10-000197 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20100514 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20100518 DATE AS OF CHANGE: 20100518 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: 10842305 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 aipl6homestead_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) May 14, 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, the Purchase Contract was terminated on January 25, 2010 and reinstated on February 3, 2010 at the same sales price of $7,000,000. 

 

As previously disclosed, on March 29, 2010 and April 20, 2010, the Registrant and the Purchaser entered into amendments 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 and the expected closing date was extended from April 26, 2010 to May 21, 2010.   

 

On May 14, 2010, the Registrant and the Purchaser entered into a Fourth Amendment to the Purchase and Sale Contract (the “Fourth Amendment”) pursuant to which the expected closing date was changed from May 21, 2010 to May 20, 2010.

 

The summary of the terms and conditions of the Fourth Amendment is qualified in its entirety by reference to the Fourth 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

 

10.45       Fourth 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 May 14, 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: May 18, 2010

EX-10.45 2 aipl6homestead_ex10z45.htm EXHIBIT 10.45 FIRST AMENDMENT TO PURCHASE AND SALE CONTRACT

Exhibit 10.45

 

FOURTH AMENDMENT TO
PURCHASE AND SALE CONTRACT

 

            THIS FOURTH AMENDMENT TO PURCHASE AND SALE CONTRACT (this "Fourth Amendment") is made and entered into this 14th day of May, 2010 (the "Fourth Amendment Date"), by and between 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 amended by that certain First Amendment to Purchase and Sale Contract dated February 3, 2010, as further amended by that certain Second Amendment to Purchase and Sale Contract dated March 29, 2010, as further amended by that certain Third Amendment to Purchase and Sale Contract dated April 20, 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, that certain Third Amendment to Purchase and Sale Contract dated April 20, 2010 ("Third Amendment") set the Closing Date for May 21, 2010; and      

 

            WHEREAS, Purchaser requests that the Closing Date be changed to May 20, 2010, and Seller is willing to accommodate this request on the condition that it is able to obtain an amended Loan Payoff; and

 

            WHEREAS, Seller and Purchaser desire to 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.                  Amendment to Closing Date.  Seller hereby agrees to revise the Closing Date, as such term is defined in Section 5.1 of the Contract, from Friday, May 21, 2010 to Thursday, May 20, 2010; provided, however, that if Seller is unable to obtain a Loan Payoff statement from Lender for a Closing on such May 20, 2010 date, then the Closing Date shall automatically revert to May 21, 2010, as was provided for in the Third Amendment.  If Seller is able to obtain a Loan Payoff statement from Lender for a May 20, 2010 Closing Date, then Purchaser shall unconditionally be committed to proceed to Closing on May 20, 2010.      

2.                  General Provisions.  The following provisions shall apply with respect to this Fourth 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 Fourth Amendment, the terms and conditions of this Fourth Amendment shall control.

(d)               This Fourth 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 Fourth Amendment as of the Fourth 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: Maplegrove Property Management, LLC

a Michigan limited liability company, Manager

 

By:  /s/James F. Anderton, IV

Name:  James F. Anderton, IV

Title:  Manager

 

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