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HARTMAN SHORT TERM INCOME PROPERTIES XX, INC. FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits

July 7, 2014



Item 1.01 Entry into a Material Definitive Agreement.

On July 1, 2014, Hartman Short Term Income Properties XX, Inc. (the "Company"), through Hartman XX Limited Partnership, entered into a Purchase Agreement with BRI 1841 Energy Plaza, LLC, relating to the acquisition of a two building office complex commonly known as Energy Plaza I & II (the "Energy Plaza Property"), containing 180,119 square feet of office space located in San Antonio, Texas for an aggregate purchase price of $17,650,000.

The acquisition of the Energy Plaza Property is subject to substantial conditions to closing, including (i) the assumption of existing indebtedness secured by the Energy Plaza Property of approximately $10.5 million; and (ii) the absence of a material adverse change to the Energy Plaza Property prior to the acquisition date. There is no assurance that the Company will close the acquisition of the Energy Plaza Property on the terms described above or at all.

The material items of the agreement described herein are qualified in their entirety by the agreement attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet

Arrangement of a Registrant.

Loan Modification - Gulf Plaza

On July 2, 2014, the Company and its wholly owned subsidiaries Hartman Gulf Plaza, LLC and Hartman Parkway, LLC entered into a loan modification agreement with respect to the $30.0 million credit revolving credit facility between the Company, Hartman Parkway, LLC and a bank. The purpose of the loan modification was to secure the Gulf Plaza office property held by Hartman Gulf Plaza, LLC as borrowing base collateral for the revolving credit facility. As modified, the borrowing base of the revolving credit facility is $7.0 million.

The material items of the agreement described herein are qualified in their entirety by the agreements attached as Exhibits 10.2, 10.3, 10.4 and 10.5 to this Current Report on Form 8-K and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits. Exhibit Description 10.1 Purchase Agreement, dated as of July 1, 2014, by and between BRI 1841 Energy Plaza, LLC and Hartman XX Limited Partnership. 10.2 Loan Modification Agreement dated July 2, 2014 10.3 Note Amended and Restated dated July 2, 2014 10.4 Assignment of Rents - Gulf Plaza 10.5 Assignment of Management Agreement - Gulf Plaza ___________________________________________________________________



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Source: Edgar Glimpses


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