ASSIGNMENT OF MEMBERSHIP INTEREST
ASSIGNMENT, dated as of October 1, 2000, by SX Advisors, LLC, a Delaware
limited liability company ("Assignor") to Wellsford Fordham Tower, LLC, a
Delaware limited liability company ("Assignee").
WHEREAS, Assignor is a member with a 51% membership interest in Creamer
Vitale Wellsford, LLC a Delaware limited liability company (the "Company");
WHEREAS, Assignor desires to assign to Assignee its entire membership
interest in the Company and Assignee desires to acquire such interest.
NOW THEREFORE, for $200,000 (the "Purchase Price") and other good and
valuable consideration, the receipt of which is hereby acknowledged, Assignor
does hereby assign unto Assignee all of its right, title and interest as a
member in and to the Company;
TO HAVE AND TO HOLD the same unto Assignee, its successors and assigns
forever;
AND Assignee hereby accepts said interest and agrees to pay the Purchase
Price on the date hereof one-half to Michael J. Vitale ("Vitale") and one-half
to Frank G. Creamer, Jr. ("Creamer"), Vitale and Creamer constituting all of the
members of Assignor.
Exhibit 10.103 Page 1
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IN WITNESS WHEREOF, Assignor and Assignee have executed this instrument as
of the date and year first above written.
ASSIGNOR:
SX ADVISORS, LLC
By: /s/ Michael J. Vitale
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Name: Michael J. Vitale
Title: Managing Director
ASSIGNEE:
WELLSFORD FORDHAM TOWER, LLC
By: /s/ James J. Burns
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Name: James J. Burns
Title: Wellsford Capital Member
Exhibit 10.103 Page 2
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