Company: CIO
Filing Date: 2025-07-24
Form Type: DEFA14A
Source: 0001193125-25-163769
Chunk: 158

Company: City Office REIT, Inc.
Filing Date: 2025-07-24
Form: DEFA14A
Chunk 158
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 this
shall be deemed delivered in trust for the sole benefit of the signing party and no such documents shall be binding upon Buyer unless and until the Closing shall occur under this Agreement.

Buyer acknowledges that the terms of the Parcel 13 Ground Sublease and Parcel 15 Ground Sublease condition any assignment thereof on the
delivery of a Phase I Environmental Site Assessment satisfying the requirements of Section 8.2 of each such ground sublease (a “Phase I”) with respect to the applicable Pima Real Property, dated no earlier than sixty
(60) days prior to the effective date of such assignment, to the Parcel 13 Ground Lessee and Parcel 15 Ground Lessee, as applicable. In order to satisfy such condition, Buyer shall obtain (and cause to be updated as necessary), at its sole cost
and expense, one or more Phase Is with respect to the Pima Real Property, and shall on or before the date that is thirty (30) days prior to the Closing Date deliver to Seller (or at Seller’s direction, directly to the Parcel 13 Ground
Lessee and Parcel 15 Ground Lessee) such Phase I or Phase Is.

4.3.6 . On or before the
Closing, Block 23 Seller shall have obtained and delivered to Escrow Holder all Block 23 Ground Lease Assignment Approvals. As used herein, the term “Block 23 Ground Lease Assignment Approvals” means all required approvals from the
City of Phoenix, Arizona, an Arizona municipal corporation (the “City”), for (i) the assignment of the Block 23 Ground Lease to the Buyer and the duly executed and acknowledged original signature of the City on the Block 23
Assignment, and (ii) an estoppel certificate relating to the Block 23 Ground Lease in the form attached hereto as Exhibit O (the “Block 23 Estoppel”), and the duly executed and acknowledged original signature of
the City on such estoppel. As used herein, “Block 23 Ground Lease” means that certain Unsubordinated Development Lease (Block 23), City Contract No. 121451-USL, dated December 22, 2016,
as amended and assigned.

Without limitation of the provisions of , below, not later than the date
that is twenty-one (21) days following the Effective Date, Buyer must designate in writing to Seller the entity or entities that will acquire the ground leasehold interest under the Block 23 Ground Lease
at the Close of Escrow pursuant to the Block 23 Assignment