Stamps.com 2011 Annual Report Download - page 80

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EXHIBIT 10.24
AGREEMENT OF PURCHASE AND SALE
AND JOINT ESCROW INSTRUCTIONS
THIS AGREEMENT OF PURCHASE AND SALE AND JOINT ESCROW INSTRUCTIONS (" Agreement
") is made and
entered into as of this 19th day of October, 2011 (" Execution Date
"), by and between GRAND AVENUE PLAZA PROPERTIES, LLC., a
California limited liability company (" Seller "), and STAMPS.COM INC., a Delaware corporation (" Buyer ").
Recitals
A. Seller owns certain improved real property commonly known as 1970 and1990 East Grand Avenue and located in the
City of El Segundo (" City "), County of Los Angeles (" County "), State of California (" State
"), which is more particularly described on
Exhibit A attached hereto (the " Land "), together with (i) the building and any other improvements located on the Land (the "
Improvements
"), (ii) any and all leases, licenses or other agreements for the occupancy of all or any portion of the Land or the Improvements (collectively, the
" Leases
"), (iii) any and all service contracts, warranties, guarantees, indemnities and bonds relating to the Land or Improvements, together with
all supplements, amendments and modifications thereto (collectively, the " Service Contracts
"), and (iv) any and all plans, specifications,
certificates of occupancy, development rights, entitlements or other intangible property appurtenant to or in connection with the Land, the
Improvements, the Leases or the Service Contracts any names used in connection with the signage or marketing of the Land or Improvements,
including any registered trademarks (collectively, the " Intangibles
") and (v) personal property which is the property of Seller and used in
connection with the Land and the Improvements (collectively, the “ Personal Property”
and, together with the Intangibles, the Land, the
Improvements, the Leases and the Service Contracts, the " Property ").
B. Seller desires to sell the Property to Buyer, and Buyer desires to purchase the Property from Seller, upon the terms
and conditions set forth in this Agreement.
Basic Provisions
I.
Buyer
:
Stamps.com Inc.
II. Buyer's Counsel : Landmark Law Group, Inc.
406 Broadway, Suite 350G
Santa Monica, California 90401
Attn: Gulwinder S. Singh
1