← 7542 and 7656 S Colfax Ave, Chicago, IL 60649 · All properties

Agreement between Lofty Holding 7542 S Colfax Ave LLC and New Heights Development LLC - 7656 S Colfax Ave, Chicago, IL 60649 - 7542 and 7656 S Colfax Ave, Chicago, IL 60649.pdf

This page is a searchable text preview. Use the Dropbox link for the full original file.

Open full file in Dropbox

What This File Appears To Be

Docusign Envelope ID: 7CF48E91-8584-4779-A99C-90EC9AE5754C AGREEMENT BETWEEN LOFTY HOLDING 7542 S COLFAX LLC, AND NEW HEIGHTS DEVELOPMENT LLC, RECOGNIZING NEW HEIGHTS DEVELOPMENT LLC AS HAVING A FINANCIAL INTEREST IN THE PROPERTY LOCATED AT 7656 SOUTH COLFAX AVENUE, CHICAGO, ILLINOIS 60649 LOFTY HOLDING 7542 S COLFAX LLC (AKA LOFTY HOLDING 7642 & 7856 S. COLFAX AVENUE DAO LLC, ITS SUCCESSOR COMPANY) (LOFTY), AND NEW HEIGHTS DEVELOPMENT LLC (NEW HEIGHTS) AGREES THAT NEW HEIGHTS IS RECOGNIZED AS H

Text Preview

Docusign Envelope ID: 7CF48E91-8584-4779-A99C-90EC9AE5754C

AGREEMENT BETWEEN LOFTY HOLDING 7542 S COLFAX LLC,
AND NEW HEIGHTS DEVELOPMENT LLC, RECOGNIZING NEW
HEIGHTS DEVELOPMENT LLC AS HAVING A FINANCIAL
INTEREST IN THE PROPERTY LOCATED AT 7656 SOUTH COLFAX
AVENUE, CHICAGO, ILLINOIS 60649
LOFTY HOLDING 7542 S COLFAX LLC (AKA LOFTY HOLDING 7642 & 7856 S. COLFAX
AVENUE DAO LLC, ITS SUCCESSOR COMPANY) (LOFTY), AND NEW HEIGHTS
DEVELOPMENT LLC (NEW HEIGHTS) AGREES THAT NEW HEIGHTS IS
RECOGNIZED AS HAVING A 50% FINANCIAL INTEREST IN THE PROPERTY
LOCATED AT 7656 S. COLFAX AVENUE, CHICAGO, ILLINOIS 60649 IN
EXCHANGE FOR NEW HEIGHTS DEVELOPMENT LLC’S PROMISE TO REFINANCE AND REHAB THE PROPERTY AND THEN COMPENSATE LOFTY
HOLDING 7542 S. COLFAX LLC FOR THE BEFORE REHAB VALUE

WHEREAS, LOFTY, has agreed to recognize NEW HEIGHTS as having a 50% financial
interest in the property located at 7656 South Colfax, Chicago, Illinois, and will convey the
financial interest to NEW HEIGHTS through a Quit Claim Deed.

WHEREAS, LOFTY has agreed to recognize NEW HEIGHTS as having a 50%
financial interest in the subject property and will convey the financial interest through a
Quit Claim Deed in exchange for NEW HEIGHTS promise to re-finance and rehab the
property and then compensate LOFTY the agreed upon before rehab value.

WHEREAS, LOFTY has agreed that after the re-financing, rehabilitation, and
payment to LOFTY, that NEW HEIGHTS will be conveyed sole ownership of the subject
property through a Quit Claim Deed.

WHEREAS, This Agreement is being executed and delivered and shall be
performed, shall be construed and enforced in accordance with the laws of such State
in any Illinois state or federal court sitting in the County of Cook.

Docusign Envelope ID: 7CF48E91-8584-4779-A99C-90EC9AE5754C

IN WITNESS WHEREOF, the parties have duly
executed this Agreement on this _22nd__day of _August__,
2025.

TRANSFEROR:
_____________________________
EARL VANZE CO, MANAGER, FOR LOFTY HOLDING
7542 S. COLFAX AVENUE LLC, and for its successor
Company, LOFTY HOLDING 7542 & 7656 S. COLFAX
AVENUE DAO LLC, A DECENTRALIZED AUTONOMOUS
ORGANIZATION LIMITED LIABILITY COMPANY

TRANSFEREE:
_________________________________________

JULIAN EDWARDS, CEO, FOR NEW HEIGHTS
DEVELOPMENT LLC