Exhibit 10.1

AGREEMENT OF PURCHASE AND SALE
This Agreement of Purchase and Sale is made as of the later of the dates on
which the parties hereto have executed this Agreement, as set forth next to each
party’s signature below (the “Effective Date”), by and between RREEF AMERICA
L.L.C., a Delaware limited liability company (“Buyer”), and FLATS AT CARRS HILL,
LP, a Florida limited partnership, (“Seller”).
Buyer agrees to purchase, and Seller agrees to sell, the following property (the
“Property”): (i) that certain improved real property (the “Real Property”),
situated in Athens, Clarke County, Georgia, legally described on Exhibit A
attached hereto and made a part hereof, and located at 592 Oconee Street and
improved by a 316-bed student housing project (the “Improvements”), together
with all rights, privileges, easements and appurtenances thereto, including any
and all mineral rights, development rights, air rights, and the like and all
right, title and interest of Seller in and to all strips and gores and any land
lying in the bed of any street, road or alley, open or proposed, adjoining the
Real Property; (ii) all right, title and interest of Seller in and to all
tangible personal property now or hereafter used in connection with the
operation, ownership, maintenance, management or occupancy of the Real Property
(the “Personal Property”), including, without limitation, the equipment,
machinery, furniture, furnishings and supplies listed on Exhibit B attached
hereto and made a part hereof, but excluding the personal property listed on
Exhibit B-1 attached hereto and made a part hereof; (iii) all the landlord’s
interest in the leases and other occupancy agreements and all amendments and
modifications thereto and the benefit of any guaranties thereof for space in the
Improvements, including leases which may be made by Seller after the date hereof
and before Closing in accordance with provisions hereof (collectively, the
“Leases”), and all security deposits and prepaid rent, if any thereunder; and
(iv) Seller’s right title and interest in all intangible personal property used
in the operation and management of the Property (the “Intangible Property”),
including, without limitation, all of the names under which the Real Property is
being operated, including those set forth in Schedule 5.1.19, the plans and
specifications, all architectural and engineering studies, reports, drawings and
prints relating to the Property, telephone numbers, rights to the Property’s
website and URLs, all warranties relating to the Real Property or the Personal
Property, all Service Contracts (as hereinafter defined) to the extent Buyer
agrees to assume the same as provided below, all licenses, permits and other
written authorizations necessary for the zoning, land use, operation, ownership,
construction and maintenance of the Property, all copyrights, logos, designs,
trademarks, service marks, including those set forth on Schedule 5.1.19, and all
goodwill associated with the Property, all tenant files and all other files and
records related to the management and operation of the Property, and all claims
and causes of action arising out of or in connection with the Property (other
than claims solely related to Seller’s ownership of the Property including
claims for delinquent rent for periods prior to the month in which the Closing
occurs, unless otherwise specifically provided below), but excluding all
proprietary information of Seller and its managing agent including computer
software (but not the data pertaining to the operation of the Property) and
related licenses and appraisals.

 

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1.    Consideration.
1.1    The purchase price for the Property shall be TWENTY SEVEN MILLION AND
NO/100 DOLLARS ($27,000,000.00) (the “Purchase Price”), payable in full at
Closing (as hereinafter defined) plus or minus prorations, by wire transfer of
funds.
1.2    In consideration of the Seller’s agreements contained herein, Buyer shall
pay Seller the sum of One Hundred Dollars ($100.00) (the “Contract
Consideration”) upon the Effective Date. The Contract Consideration shall be
non-refundable, regardless of whether Buyer purchases the Property, but shall be
a credit against the Purchase Price at Closing.
2.    Deposit. Buyer shall procure a letter of credit, in a form reasonably
acceptable to Seller, from a creditworthy bank or other financial institution
selected by Buyer (“Buyer’s Letter of Credit”) in the amount of Three Hundred
Thousand and No/100 Dollars ($300,000.00) and within three (3) business days
after the Effective Date shall deposit Buyer’s Letter of Credit with Chicago
Title Insurance Company, 5565 Glenridge Connector, Suite 300, Atlanta, GA 30342,
Attention: Andrew McGarry (the “Escrow Agent”), to secure Buyer’s performance
hereunder (Buyer’s Letter of Credit and any cash substituted therefor and any
interest earned thereon shall hereinafter be referred to as the “Deposit”). The
expiry date of Buyer’s Letter of Credit shall not be before _________, and the
beneficiary of Buyer’s Letter of Credit shall be the Escrow Agent. Buyer shall
within three (3) business days after the date of Buyer’s Review Period Notice
deposit Eight Hundred Thousand and No/100 Dollars ($800,000.00) in cash with the
Escrow Agent, and upon such deposit, Buyer’s Letter of Credit shall be returned
promptly to Buyer. Any cash Deposit shall be held in an interest-bearing
investment approved by Buyer. The Deposit, whether it is in the form of one or
more letters of credit or cash, or both, shall be held pursuant to Escrow
Instructions in the form attached hereto on Schedule 2, which shall be executed
by the parties hereto and, upon receipt of the Deposit, the Escrow Agent. At
Closing any cash Deposit plus any interest earned thereon shall be applied
against the Purchase Price.
3.    Review of Property.
3.1    Within three (3) business days after the Effective Date, Seller shall
deliver to Buyer all of the following in Seller’s possession or control relating
to the Property: (i) monthly operating statements for the Property for the year
to date and for the most recently completed prior year and annual operating
statements for two (2) years prior to the current year (such statements shall
include, in addition to current income and expense items, itemization of all
capital expenditures made during the respective periods, tenant payment records
and delinquent accounts); (ii) the current year’s operating and capital budget
with a comparison to actuals; (iii) a current rent roll (the “Rent Roll”) used
by Seller in the management and operation of the Property and listing every
tenant of the Property; (iv) a schedule of any employees employed by Seller in
the operation of the Property, setting forth the names, salaries or other
compensation, and other pertinent information concerning such employees,
including the terms of all contracts and collective bargaining agreements with
them; (v) a list showing all litigation instituted by or pending against Seller
or the Property; (vi) any ground lease, notes, deeds of trust, security deeds or
other mortgage documents to which Buyer will be taking subject; (vii) any notice
of any statute or code or insurance violation pertaining to the Property
received by Seller or Seller’s property manager in the previous five (5) years
and any

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documents pertaining to the resolution thereof; (viii) building permits and
certificates of occupancy and (ix) evidence of zoning of the Property (including
zoning reports obtained by Seller).
3.2    Within three (3) business days after the Effective Date, Seller shall
deliver to Buyer copies of all documents in Seller’s possession or control
relating to the Property, including, but not limited to: (i) surveys; (ii) real
and personal property tax bills for the previous three (3) years; (iii)
mechanical, electrical and structural plans and specifications, including
as-builts; (iv) the Leases (including any guaranties thereof), (v) tenant files,
including correspondence, which shall be made available to Buyer at Seller’s
offices, (vi) insurance certificates of Seller; (vii) warranties; (viii) Service
Contracts; (ix) management, leasing and commission agreements; (x) reports of an
engineer’s inspection of the structural aspects and mechanical systems of the
Improvements; (xi) soils and geotechnical reports; (xii) reports, studies,
assessments, test results or other documents relating to the environmental
condition of the Property; and (xiii) audits, inspections or reports determining
compliance (or non-compliance) with Laws, including the Americans with
Disabilities Act.
3.3    Seller shall provide Buyer and its Agents (as hereinafter defined) with
access to the Property to inspect and test each and every part thereof to
determine its present condition. Without limiting the foregoing, prior to any
entry, Buyer shall give Seller notice thereof, including in the case of on-site
testing the identity of the company or persons who will perform such testing and
the proposed scope of the testing, and Buyer shall deliver to Seller a
certificate of insurance evidencing general liability insurance coverage of not
less than One Million Dollars ($1,000,000.00) per occurrence and Two Million
Dollars ($2,000,000.00) in the aggregate. Seller shall approve or disapprove the
scope and methodology of such proposed testing within three (3) business days
after receipt of such notice, such approval not to be unreasonably withheld;
Seller’s failure to notify Buyer of its disapproval shall be deemed to be
Seller’s approval thereof. Buyer shall maintain and shall assure that its
contractors maintain, public liability and property damage insurance in amounts
and in form and substance adequate to insure against all liability of Buyer, and
its agents, employees or contractors (collectively in the case of Buyer,
“Agents”) arising out of any entry or inspections of the Property pursuant to
the provisions hereof, and upon request by Seller Buyer shall provide Seller
with evidence of such insurance coverage. Buyer shall indemnify, defend and hold
Seller harmless from and against any costs damage, liability, loss, expense,
lien or claim (including, without limitation, reasonable attorney’s fees)
proximately caused by any entry on the Property by Buyer and its Agents in the
course of performing the inspections, testing or inquiries provided for in this
Agreement, including without limitation, damage to the Property, bodily injury
or release of Hazardous Material (as hereinafter defined) onto the Property, but
excluding any costs incurred by Seller in supervising Buyer’s testing. The
foregoing indemnity shall survive the Closing, or if the sale is not
consummated, the termination of this Agreement.
3.4    Buyer shall have until 5:00 p.m. Eastern time on thirtieth (30th) day
following the Effective Date (the “Review Period”) to determine in its sole
discretion whether the Property supports the proposed purchase price. If Buyer
shall conclude that such is the case, Buyer shall so notify Seller (the “Review
Period Notice”) prior to the expiration of the Review Period. If Buyer fails to
give the Review Period Notice within the Review Period, then this Agreement
shall be deemed terminated upon the expiration of the Review Period, in which
event this Agreement will

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terminate without liability on the part of Seller or Buyer, other than Buyer’s
indemnity contained in Section 3.3 hereof, and the Deposit shall be returned to
Buyer as provided in the Escrow Instructions. In the event Buyer timely delivers
the Review Period Notice, Buyer will be deemed to have elected to proceed with
the transaction upon the terms and conditions contained in this Agreement, and
this Section 3.4 shall have no further force and effect. The Review Period
Notice shall contain reference to those Service Contracts that Seller shall be
obligated to terminate as of the Closing at Seller’s sole cost and expense.
4.    Title. Promptly after Buyer’s receipt of Seller’s existing title insurance
policies for the Property, Buyer shall order a title commitment on the Property
from Escrow Agent (the “Title Insurer”) and a survey. Buyer shall have until the
end of the Review Period in which to notify Seller in writing of any objection
Buyer may have to any exceptions reported in the title commitment or matters of
survey. Other than Curable Title Exceptions (as hereinafter defined) which
Seller hereby obligates itself to remove at its sole cost and expense and in a
manner reasonably satisfactory to Title Insurer, Seller may either cure any
title or survey defect so objected to by Buyer in a manner reasonably
satisfactory to Buyer or promptly notify Buyer that it is unable or unwilling
(in its sole discretion) to cure such defects. Except in the case of Curable
Title Exceptions, Buyer, within three (3) business days of receipt of such
notice, shall, as its exclusive remedy, elect by written notice to Seller one of
the following: (i) waive such title and survey objections and proceed to
Closing, (ii) terminate this Agreement, in which event the Deposit shall be
returned to Buyer, or (iii) cure the same, at its sole cost and expense. Failure
to send a written notice to Seller within such three (3) business day period
exercising such election shall be deemed an election to terminate this
Agreement. If the objected to exceptions which Seller is unable or unwilling to
remove relate to any (i) financing liens, mechanics’ and materialmen’s liens
caused by Seller, (ii) tax liens relating to the Property, (iii) liens or other
title exceptions resulting solely from acts of Seller occurring on or after the
Effective Date or (iv) other liens or encumbrances which secure other monetary
obligations which in the aggregate do not exceed $200,000 (collectively,
“Curable Title Exceptions”), Buyer may discharge the same at Closing and deduct
the cost to do so from the Purchase Price and Seller shall cooperate with Buyer
in doing so. All title exceptions and survey matters not objected to pursuant to
this Section and those which Seller cannot or is unwilling to remove (other than
Curable Title Exceptions) and to which Buyer agrees to take subject shall be
deemed permitted exceptions. Buyer shall not have the right to object to title
or to terminate this Agreement by reason of any title exceptions which are
caused by Buyer or its Agents. Buyer shall also have the right to update the
effective date of the title commitment prior to Closing, and object to any new
title matters reflected in the updated title commitment, in accordance with this
Section.
5.    Representations and Warranties of Seller.
5.1    Seller hereby warrants and represents to Buyer as follows:
5.1.1    Seller owns fee simple title to the Real Property.
5.1.2    The documents delivered to Buyer pursuant to Sections 3.1 and 3.2 are
true, correct and complete copies of those in Seller’s or Seller’s property
manager’s possession. All equipment leases and contracts for services relating
to the Property (including, without limitation, any management, leasing, service
or maintenance agreements) (collectively, “Service Contracts”)

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are listed on Schedule 5.1.2. All Service Contracts are terminable without
penalty on no more than thirty (30) days’, except as set forth on Schedule
5.1.2. notice and Seller has delivered copies of all Service Contracts as part
of its deliveries pursuant to Section 3.2. All Leases, Service Contracts and
other agreements delivered to Buyer are in full force and effect, without
default by any party and without any right of set‑off, except as disclosed in
writing at the time of such delivery.
5.1.3    The Rent Roll is a true, correct and complete list of (x) all of the
Leases, all of which are in full force and effect, (y) the names of all of the
tenants (or other persons possessing contractual rights to occupy a portion of
the Property or the permitted assignees or subtenants under the Leases) and (z)
their rental and any other monetary obligations thereunder; and, except as set
forth on the Rent Roll or in the Leases, (i) all rental and other payments due
under such Leases as of the date of the Rent Roll have been paid in full, (ii)
Seller and, to the best of Seller’s knowledge, the tenants under the Leases, are
not in default under the Leases, and Seller has fully complied with the terms
and conditions of all the Leases, and (iii) no rents or other payments have been
collected more than one year in advance and no rents or other deposits are held
by Seller, except security deposits described on the Rent Roll or prepaid rent
for the current month, and (vii) there are no commissions or other fees payable
brokers, agents or other third parties with regard to any of the Leases or with
regard to any renewals, extensions or expansions (whether due to options
previously or hereafter exercised or separately negotiated).
5.1.4    [Intentionally Omitted]
5.1.5    Seller has not (i) made a general assignment for the benefit of
creditors, (ii) filed any voluntary petition in bankruptcy or suffered the
filing of any involuntary petition by Seller’s creditors, (iii) suffered the
appointment of a receiver to take possession of all, or substantially all, of
Seller’s assets, as the case may be, which remains pending, (iv) suffered the
attachment or other judicial seizure of all, or substantially all of Seller’s
assets, as the case may be, which remains pending, (v) admitted in writing its
inability to pay its debts as they come due, or (vi) made an offer of
settlement, extension or composition to its creditors generally.
5.1.6    There are no special assessments, special tax districts or outstanding
obligations (contingent or otherwise) to governmental entities (collective
“Assessments”) with respect to the Property or any part thereof, nor are there
any pending condemnation actions, nor has Seller any knowledge of any
Assessments or condemnation actions being contemplated; the Property is
separately assessed for real estate tax purposes and not combined with any other
property for such purposes.
5.1.7     To the best of Seller’s knowledge, Seller is not in default under any
easements or other recorded restrictive covenant affecting the Property. There
are no off-site signs advertising the Property.
5.1.8    [Intentionally Omitted]
5.1.9    This Agreement has been duly authorized, executed and delivered by
Seller and is the legal, valid, and binding obligation of Seller enforceable
against Seller in accordance with its terms, and the execution and delivery
thereof does not violate any provision of any agreement

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or judicial order to which Seller is a party or to which Seller or the Property
is subject; and that all the documents to be delivered by Seller to Buyer at
Closing will, at Closing , be duly authorized, executed and delivered by Seller,
will be the legal, valid and binding obligations of Seller enforceable against
Seller in accordance with their respective terms and will be sufficient to
convey good and marketable title to Buyer, and the execution and delivery
thereof will not violate any provision of any agreement or judicial order to
which Seller is a party or to which Seller or the Property is subject.
Seller and, to Seller’s knowledge, each person or entity owning an interest in
Seller is (a) (i) not currently identified on the Specially Designated Nationals
and Blocked Persons List maintained by the Office of Foreign Assets Control,
Department of the Treasury (“OFAC”) and/or on any other similar list maintained
by OFAC pursuant to any authorizing statute, executive order or regulation
(collectively, the “Lists”), and (ii) not a person or entity with whom a citizen
of the United States is prohibited to engage in transactions by any trade
embargo, economic sanction, or other prohibition of United States law,
regulation, or Executive Order of the President of the United States, (b) none
of the funds or other assets of Seller constitute property of, or are
beneficially owned, directly or indirectly, by any Embargoed Person (as
hereinafter defined), and (c) no Embargoed Person has any interest of any nature
whatsoever in Seller (whether directly or indirectly).
 
The term “Embargoed Person” means any person, entity or government subject to
trade restrictions under U.S. law, including but not limited to, the
International Emergency Economic Powers Act, 50 U.S.C. §1701 et seq., The
Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders
or regulations promulgated thereunder with the result that the investment in
Seller is prohibited by law or Seller is in violation of law.

5.1.10    There are no employees of the Property or Seller who will be required
to become employees of Buyer as a result of the sale of the Property to Buyer or
for which Buyer shall be responsible in any way.
5.1.11    Seller knows of no facts nor has Seller misrepresented any fact which
would prevent Buyer from using and operating the Property after Closing in the
manner in which the Property is currently being used and operated.
5.1.12    Seller has not dealt with any broker or finder in connection with the
transaction contemplated by this Agreement other than any party to be paid a
commission pursuant to Section 6.12.
5.1.13    Except for the pending tenant collection and eviction actions
described on Schedule 5.1.13 attached hereto, there is no pending action, suit
or proceeding against or affecting the Property or relating to or arising out of
the ownership, management or operation of the Property in any court or before or
by any federal, state, or municipal department, commission, board, bureau or
agency or other governmental instrumentality nor has Seller or its property
manager received any written notice threatening any such action, suit or
proceeding against the Seller or the Property.
5.1.14    Seller has granted no options, rights of first offer or rights of
first refusal to acquire any interest in the Property to any party.

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5.1.15    Seller has no knowledge of, and has not received any written notice
from, any party alleging that the Property or its current uses are in violation
of any zoning, building, health, traffic, flood control or all other applicable
rules, regulations, codes, ordinances, or statutes of any local, state or
federal authority or any other governmental authority (collectively, the “Laws”)
asserting jurisdiction over the Property, which violations, if any, have not
heretofore been corrected in all material respects.
5.1.16    The Property is not part of a development that is subject to
restrictive covenants (“CCRs”) and governed by a declarant or owner’s
association.
5.1.17    To Seller’s knowledge neither the Property, including, without
limitation, soil and groundwater conditions, is in violation of any Law relating
to industrial hygiene, environmental conditions, hazardous waste or toxic
materials. Neither Seller nor, to Seller’s knowledge, any third party has used,
manufactured, stored or disposed of, on, under or about the Property or
transported to or from the Property, any flammable explosives, petroleum or
petroleum by-products, natural gas, natural gas liquids, liquefied natural gas,
or synthetic gas usable for fuel or mixture thereof, radon, radioactive
materials or wastes, hazardous materials or wastes, toxic materials or wastes,
asbestos, asbestos-containing materials, PCBs, or other similar materials or
wastes (collectively “Hazardous Materials”). To Seller’s knowledge no
underground storage tanks exist on or have been removed from the Property, and
the Property has never been used as a dump or landfill site.
    5.1.18    Neither Seller nor (in the case Seller is a disregarded entity)
Seller’s non-disregarded entity is a foreign person within the meaning of
Section 1445(f)(3) of the Code. The sale of the Property by Seller is not
subject to any federal, state or local withholding obligation of Buyer under the
existing tax law applicable to Seller or the Property.
5.1.19    Seller has not conducted business related to the Property under any
name other than those set forth on Schedule 5.1.19, and the only trademarks that
Seller is using in the conduct of its business at the Property are those set
forth on Schedule 5.1.19. Seller has not received any written notice that it or
the Property has infringed, or may be infringing, on any name referred to in
this Section or any trademark referred to in Schedule 5.1.19, and to the
knowledge of Seller, there is no third party using any such names or trademarks
such that (i) such third party would have a legitimate claim that Seller is
infringing upon the same or (ii) that Seller would have a claim that such third
party is infringing upon such names or trademarks.
5.2    Buyer hereby represents and warrants to Seller as follows which
representations are deemed to be remade by Buyer at Closing and shall survive
the Closing:
5.2.1    Buyer has not dealt with any broker or finder in connection with the
transaction contemplated by this Agreement other than any party to be paid a
commission pursuant to Section 6.12.
5.2.2    This Agreement has been duly authorized, executed and delivered by
Buyer and is the legal, valid, and binding obligation of Buyer enforceable
against Buyer in accordance with its terms, and the execution and delivery
thereof does not violate any provision of any agreement

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or judicial order to which Buyer is a party or to which Buyer is subject; and
that all the documents to be delivered by Buyer to Seller at Closing will, at
Closing , be duly authorized, executed and delivered by Buyer and will be the
legal, valid and binding obligations of Buyer enforceable against Buyer in
accordance with their respective terms, and the execution and delivery thereof
will not violate any provision of any agreement or judicial order to which Buyer
is a party or to which Buyer is subject.
5.3    Each of the representations and warranties of Seller contained in Section
5.1: (i) is made as of the Effective Date; (ii) will be deemed to be remade by
Seller and be true in all material respects, as of Closing; and (iii) will
survive for a period of one year after the Closing (the “Survival Period”),
except that the representations and warranties contained in Sections 5.1.5,
5.1.9 and 5.1.12 shall survive Closing without any limitation. Any claim that
Buyer may have at any time against Seller for a breach of any such
representation or warranty (other than those contained in Sections 5.1.5, 5.1.9
and 5.1.12), whether known or unknown, which is not asserted by written notice
from Buyer to Seller within such one year period will not be valid or effective,
and Seller will have no liability with respect thereto. The continued accuracy
of the aforesaid representations and warranties is a condition precedent to
Buyer’s obligation to close. In the event that on or prior to Closing Seller
becomes aware that any of such representations and warranties are not correct,
Seller shall notify Buyer of such inaccuracy within five (5) business days of
obtaining such knowledge (but, in any event, prior to Closing). In the event
that on or prior to Closing, Buyer obtains actual knowledge that any of Seller’s
representations and warranties are untrue, inaccurate or incorrect, Buyer shall
give Seller written notice thereof within five (5) business days of Buyer
obtaining such knowledge (but, in any event, prior to Closing). In either such
event, Seller shall have the right to cure such misrepresentation or breach and
shall be entitled to a reasonable adjournment of the Closing (not to exceed
fifteen (15) calendar days) to attempt such cure. If any of Seller’s
representations and warranties is not correct at the time the same is made or as
of Closing, and on or prior to the Closing Buyer has actual knowledge of such
inaccuracy and Seller either does not elect to or is unable to cure such
misrepresentation or breach after the cure period set forth above, Buyer may
either (a) if such misrepresentation or breach pertains to those representations
and warranties contained in Sections 5.1.5 or 5.1.9, terminate this Agreement,
in which case the Deposit will be returned to Buyer, and Buyer may pursue its
remedies under this Agreement if a representation or warranty of Seller was
breached, or (b) if such misrepresentation or breach pertains to any other
Seller’s representations or warranties and Buyer’s aggregate damages resulting
from such untruth, inaccuracy or incorrectness are reasonably estimated by Buyer
to exceed Ten Thousand and No/100 Dollars ($10,000.00), terminate this
Agreement, in which case the Deposit will be returned to Buyer, and Buyer may
pursue its remedies under this Agreement if a representation or warranty of
Seller was breached, or (c) waive such matter, including the right to make any
claim against Seller post-Closing and proceed to Closing.
6.    Closing.
6.1    The purchase and sale contemplated herein shall close (the “Closing”) at
the office of the Escrow Agent on the tenth (10th) day after the Review Period
Date (the “Closing Date”). Notwithstanding the foregoing or anything contained
herein to the contrary, Buyer shall have the right to accelerate the Closing
Date to a date as early as September 30, 2015, by delivery of written

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notice to Seller at least two (2) days prior to the accelerated Closing Date.
The Closing shall occur by delivery of the documents set forth in Section 6.4
and payment of the Purchase Price to Seller. The sale shall be closed through
escrow with the Escrow Agent in accordance with the general provisions of the
usual form of escrow agreement used in similar transactions by such holder with
special provisions inserted (i) as may be required to conform with this
Agreement and (ii) to close on a so-called “New York Style” basis. Seller agrees
to execute a “gap indemnity” in favor of the Title Insurer if the same is
required to close on a “New York Style” basis.
6.2    Buyer reserves the right to take title to the Property in the name of a
nominee or assignee, or in the name of one or more of the institutional
investors for which Buyer or one of its affiliates is then acting as investment
manager (a “Separate Account”) or a nominee or assignee of a Separate Account.
In the event the rights and obligations of Buyer hereunder shall be assigned by
Buyer to a Separate Account, upon Closing, the assignor shall be released from
any obligation or liability hereunder, other than its indemnity contained in
Section 3.3, and such Separate Account shall be substituted as Buyer hereunder,
shall be entitled to the benefit of and may enforce Seller’s covenants,
representations and warranties hereunder as if such Separate Account were the
original Buyer hereunder (including the right to terminate this Agreement
pursuant to Section 3.4, if then applicable), and shall assume all obligations
and liabilities of Buyer hereunder, subject to any limitations of such
liabilities and obligations hereunder or provided by law. Upon notification to
Seller of any such assignment, Seller’s representations and warranties hereunder
shall be deemed remade to the Separate Account as of the date of such
assignment.
6.3    Taxes, rental and other income, and operating or other expenses of the
Property shall be prorated as of 12:01 a.m. on the day of Closing, with Buyer
receiving all income and responsible for all expenses commencing as of such
time. At least five (5) days prior to the Closing Date Seller shall supply Buyer
with the necessary information to compute or estimate the prorations, including
such supporting evidence as Buyer reasonably requests.
6.3.1    All general real estate taxes and assessments (“Taxes”) which
constitute a lien or charge on the Property for the tax period in which the
Closing Date occurs but are not due and payable as of the Closing Date shall be
prorated at Closing (i.e., all Taxes payable with respect to any calendar years
prior to the calendar year in which the Closing Date occurs shall be paid by
Seller and all real property taxes and assessment payable with respect to the
calendar year in which the Closing Date occurs shall be pro-rated based upon the
number of days each that Seller and Buyer will own the Property in the calendar
year in which the Closing Date occurs). All Taxes for periods prior to the tax
period in which the Closing Date occurs shall be paid by Seller on or before
Closing or if not yet due, Buyer shall receive a credit therefor. If Closing
occurs prior to the receipt by Seller of the tax bill for the Property for the
applicable tax period, credit for Taxes shall be based upon the estimated Taxes
calculated based upon the most recent ascertainable assessed valuation and tax
rates, but not less than the Taxes for the previous period with an adjustment to
be made between the parties as provided in Section 6.3.6. In the case of
Assessments for which a lien has been imposed on the Real Property as of the
Effective Date, Seller shall be responsible for all installments, whether
currently due or due subsequent to Closing. If Buyer elects to consummate the
transaction pursuant to Section 6.3, all Assessments for which a lien on the
Real Property are first imposed after the Effective Date shall be borne by
Buyer.

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6.3.2    Rental (including base rent and all additional rents) and other income,
including percentage rents, shall be prorated based solely upon collected
amounts. Any uncollected rent and other income shall be prorated when received,
and the receiving party shall pay the amount due the other party promptly upon
receipt less in the case of delinquent amounts collected by Buyer any reasonable
costs of collection (including, but not limited to, attorneys’ fees). All
amounts received shall be first applied to current charges, and the balance
shall be applied to make up delinquencies in the reverse order of maturity.
Seller shall give Buyer a credit for all tenant cash deposits (for security, pet
deposits etc.) held pursuant to the Leases and all interest thereon payable to
tenants, if any, which has accrued up to Closing. This provision shall survive
the Closing.
6.3.3    As to delinquent rent and other items, Buyer will bill and attempt to
collect such amounts in the ordinary course of business but shall not be
obligated to expend any money, engage a collection agency or take legal action
to collect any such amounts. Seller shall have the right to seek collection of
delinquent amounts due Seller, including the right to sue for amounts due, only
as to those former tenants whose leases have terminated. This provision shall
survive the Closing.
6.3.4    Seller and Buyer shall endeavor to obtain meter readings and account
changeovers for the Property on the day before the Closing Date, and if such
readings and changeovers are obtained, there shall be no proration of such
items. In such event Seller shall pay the bills for the period to and including
the day before the Closing Date and Buyer shall pay the bills for day of Closing
and thereafter. If meter readings cannot be obtained prior to the Closing Date,
utility charges shall be prorated based upon historical utility charges for such
month adjusted for current rates and levels of occupancy. Athens-Clarke County
Stormwater Management Fees shall be prorated as of the date of Closing.
6.3.5    Any fees and charges pursuant to any Service Contracts relating to the
Property which Buyer does not assume at Closing shall be paid by Seller prior to
Closing. Fees and charges for Service Contracts which Buyer is assuming shall be
prorated.
6.3.6    In the event that final calculations cannot be made for any expense
item, including Taxes, and any income item prior to Closing, Buyer and Seller
shall estimate the proration at Closing and shall reprorate such items as soon
as adequate information is available. Payments in connection with the final
adjustments shall be made by Seller or Buyer, as the case may be, within ten
(10) days after notice. This Section 6.3.6 shall survive Closing for one year
after Closing.    
6.3.7    Reserved.
6.3.8    Reserved.
6.3.9    At the Closing, Seller and Buyer shall pay their own respective costs
incurred with respect to the consummation of the purchase and sale of the
Property as contemplated herein, including, without limitation, attorneys’ fees.
Notwithstanding the foregoing, it is expressly agreed that Seller shall pay any
and all transfer and/or documentary stamp taxes incident to the conveyance of
title to the Property to Buyer. Buyer shall pay the cost of the title
examination and owner’s title insurance policy premium, including any
endorsements that Buyer requires, the survey, recording

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the deed, any mortgage recording tax and all other taxes, costs, fees or
expenses relating to Buyer’s financing of the Property and Buyer’s investigation
of the Property.
6.3.10    [Intentionally Omitted]
6.3.11    [Intentionally Omitted]
6.3.12    In addition, as part of Seller’s obligation to maintain the Property
all apartment units which are vacant on the date which is five (5) calendar days
prior to the Closing Date shall have been, at Seller’s sole cost and expense,
made ready for immediate new tenant occupancy, including, but not limited to,
completion of Seller’s standard decorating package with the replacement of
carpeting and appliances where in the normal course of Seller’s operation of the
Property prior to the date hereof such carpeting and appliances would have
otherwise been replaced prior to a new tenant taking occupancy. For all
apartment units that are vacant or are occupied without being subject to a lease
(e.g. holdover tenant that refuses to vacate) on the Closing Date which are not
made ready for immediate new tenant occupancy, Buyer shall receive a credit
against the Purchase Price in an amount equal to Five Hundred and No/100 Dollars
($500.00) per such unit. In addition, Buyer shall receive a credit against the
Purchase Price for each appliance, including, without limitation, each
refrigerator, range, dishwasher, disposal, washer and dryer (provided such unit
currently has a washer and dryer) (each an “Appliance Credit”). The Appliance
Credit for each missing appliance shall be in an amount equal to the purchase
price then being paid by Seller for a new appliance most recently purchased by
Seller within the period that is six (6) months prior to the Closing Date.
6.4    Closing Deliveries.
6.4.1    Possession of the Property, subject to the rights of tenants under the
Leases, shall be delivered to the Buyer on the date of Closing and Seller shall
thereupon deliver or make available to Buyer the originals, if in Seller’s
possession or in the possession of Seller’s property manager or leasing agent,
of all the Leases (including originals of the guaranties thereof), Service
Contracts and other documents delivered under Section 3.2, all correspondence
with tenants and any tenant ledger cards, supplies and advertising materials,
booklets, keys, and other items used in connection with the management and
operation of the Property.
6.4.2    At or before the Closing, Seller shall deliver to the Title Insurer
(for delivery to Buyer upon Closing) the following (other than the materials
described in Section 6.4.2.13, which shall be delivered directly to Buyer by
Seller substantially concurrent with the Closing):
6.4.2.1        Limited Warranty Deed (the “Deed”), in the form of
Schedule 6.4.2.1;
6.4.2.2        an affidavit in customary form that Seller is not a foreign
person within the meaning of Section 1445(e) of the Code, in the form of
Schedule 6.4.2.2;
6.4.2.3        [Intentionally Omitted];

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6.4.2.4        such affidavits as are customarily required by Title Insurer in
connection with issuance of the owner’s extended coverage title insurance
policy, including a mechanics’ lien and judgment affidavit;
6.4.2.5        an assignment of the Leases in the form of Schedule 6.4.2.5
(“Lease Assignment”);
6.4.2.6        an assignment of Intangible Property, including Service Contracts
(to the extent not terminated as provided in Section 3.4) in the form of
Schedule 6.4.2.6 (“Intangibles Assignment”);
6.4.2.7        letters, in form to be supplied by Buyer, to the tenants at the
Property, instructing the tenants to pay rent to Buyer and to recognize Buyer as
landlord under the Leases and providing the information regarding security
deposits as required by O.C.G.A. 44-7-30 et al.;
6.4.2.8        letters, in form to be supplied by Buyer, to the vendors under
the Service Contracts, instructing such vendors to recognize Buyer as the owner
under the Service Contracts;
6.4.2.9        a bill of sale in the form of Schedule 6.4.2.9 conveying the
Personal Property of Seller listed on Exhibit B;
6.4.2.10    a Rent Roll, certified as of the Closing Date, in the form
previously delivered to Buyer;
6.4.2.11    a “bring down certificate” stating that Seller’s representations and
warranties are true and correct as of the Closing Date, in the form of Schedule
6.4.2.11;
6.4.2.12    [Intentionally Omitted];
6.4.2.13    such resolutions, authorizations, bylaws or other corporate, limited
liability company and/or partnership documents relating to Seller as shall be
reasonably required by the Title Insurer;
6.4.2.14    keys to all locks located in or about any portion of the Property
and all personal properly described in the Bill of Sale to the extent in
Seller’s possession or reasonable control;
6.4.2.15    any document necessary to remove any broker’s lien in connection
with this transaction, including, but not limited to a Broker’s Lien Waiver
signed by brokers relating to the leasing, management and sale of the Property
and a Seller’s Affidavit Regarding Brokers in the forms of Schedule 6.4.2.15;
6.4.2.16    any transfer document or inspection or other certificate required by
any applicable Law in connection with this transaction;

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6.4.2.17    a waiver of any tax withholding which may be imposed upon Buyer due
to Seller’s obligation to pay taxes;
6.4.2.18    [Intentionally Omitted];
6.4.2.19    all warranty transfer request forms related to warranties for the
roof, equipment and other items. Seller agrees to use good faith efforts to
assist Buyer in completing the warranty transfers after Closing;
6.4.2.20    all other documents, instruments or writings which may be reasonably
required by the Title Insurer to consummate the transactions contemplated
herein, including any reasonable closing documents requested by Title Insurer
(provided that in no event shall any such document increase the liability of
Seller);
6.4.2.21    an Affidavit of Seller’s Gain in the form attached hereto as
Schedule 6.4.2.21 or other affidavit to comply with O.C.G.A. §48-7-128;
6.4.2.22    Pursuant to Section 6.2 above, a Separate Account of Buyer may
include a publicly registered real estate investment trust, and therefore Seller
further agrees to make its books and records relating to the Property available
for inspection and audit by Buyer or its agents and to execute and deliver (at
the time of completion of the audit) the audit letter in favor of Buyer’s
auditors in the form attached hereto as Schedule 6.4.2.22 and made a part hereof
(the covenants of Seller described by this sentence shall survive the Closing).
Buyer may also review and make copies of any of Seller’s files, books and
records relating to the Property. Buyer shall be responsible for all
out-of-pocket costs associated with this audit. Seller shall reasonably
cooperate (at no out of pocket cost to Seller) with Buyer’s auditor in the
conduct of such audit. In addition, Seller agrees to provide to Buyer or any
affiliate of Buyer, if requested by such auditor, historical financial
statements for the Property (for the past three (3) years) (with the names of
parties having an equity interest in Seller redacted), including (without
limitation) income and balance sheet data for the Property, whether required
before or after Closing, to the extent in Seller’s possession or control.
Without limiting the foregoing, (i) Buyer or its designated independent or other
auditor may audit Seller’s operating statements of the Property, at Buyer’s
expense, and Seller shall provide such documentation as Buyer or its auditor may
reasonably request in order to complete such audit, and (ii) Seller shall
furnish to Buyer such financial and other information as may be reasonably
required by Buyer or any affiliate of Buyer to make any required filings with
the U.S. Securities and Exchange Commission (“SEC”) or other governmental
authority. Seller shall maintain its records for use under this Section 6.4.2.22
for a period of not less than one (1) year after the Closing. This Section shall
expressly survive Closing. The purpose of the audit to be performed by Buyer
pursuant to this Section 6.4.2.22 is informational and shall not result in a
reduction of the Purchase Price.
6.5    At or before the Closing, Buyer shall deliver to Title Company (for
delivery to Seller upon Closing) the following:

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6.5.1    good federal funds in an amount equal to the Purchase Price less the
Deposit (if cash) and interest, if any, thereon, plus or minus prorations as
provided herein and plus funds sufficient to pay Buyer’s closing costs
hereunder;
6.5.2    such affidavits as are customarily required by Title Insurer in
connection with issuance of the owner’s title insurance policy;
6.5.3    counterpart of the Lease Assignment;
6.5.4    counterpart of the Intangibles Assignment;
6.5.5    such resolutions, authorizations, bylaws or other corporate, limited
liability company and/or partnership documents or agreements relating to Buyer
as shall be required by Title Company;
6.5.6    all other documents, instruments or writings which may be reasonably
required by the Title Insurer to consummate the transactions contemplated
herein, including any reasonable closing documents requested by Title Insurer
(provided that in no event shall any such document increase the liability of
Buyer).
6.6    At the Closing, Seller and Buyer will execute and deliver to the Title
Insurer the following documents in proper form:
6.6.1    Closing Statement; and
6.6.2    City, county and state transfer tax declarations or similar
instruments, if any.
6.7    Seller and Buyer hereby designate Title Company as the “Reporting Person”
for the transaction pursuant to Section 6045(e) of the Code and agree to execute
such documentation as is reasonably necessary to effectuate such designation.
6.8    Reserved.
6.9    Buyer’s obligation to proceed to Closing shall be conditioned upon
Seller’s performance of the following additional obligations, provided that
Buyer may in its sole discretion elect to waive failure by Seller to perform any
particular obligation. In the event any of the following additional conditions
are not satisfied as of the Closing Date, Buyer shall have the right to
terminate this Agreement, in which case the Deposit will be returned to Buyer.
6.9.1    The Occupancy Level (as defined in Section 6.10.1 below) shall be at
least 97% at Closing.
6.9.2    Seller shall deliver to Buyer satisfactory evidence that at Closing
there will be no outstanding contracts made by Seller for any improvements to
the Property or leasing commissions which have not been fully paid for and that
Seller has caused, or shall at Closing cause, to be discharged all mechanics’,
materialmen’s and service provider’s liens, arising from any labor or materials
or services, including brokerage, furnished prior to Closing.

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6.9.3    [Intentionally Omitted]
6.9.4    The physical condition of the Property shall be substantially the same
on the Closing Date as on the date of Buyer’s execution of this Agreement,
reasonable wear and tear and loss by casualty excepted (subject to the
provisions of Section 8.2).
6.9.5    Title Insurer shall be irrevocably and unconditionally committed to
issue to Buyer the title policy in the form approved or deemed approved by Buyer
pursuant to Section 4.
6.9.6    Subject to Section 5.3, all of Seller’s representations and warranties
contained herein shall be true and correct on the Closing Date.
6.9.7    There has been no material and adverse change to the Rent Roll between
the Effective Date and the Closing Date.
6.10    Between the Effective Date and the Closing, Seller shall:
6.10.1    operate the Property in the same manner as before the making of this
Agreement, the same as though Seller were retaining the Property; including all
commercially reasonable efforts to maintain the occupancy (defined as physically
occupied units with non-delinquent rent paying tenants) level of the Property
(the “Occupancy Level”) to at least 97%;
6.10.2    keep and perform all of the obligations to be performed by it as
landlord under any Lease or Laws;
6.10.3    not permit or consent to any new loans affecting the Property;
6.10.4    not without first obtaining the written consent of Buyer enter into
any other contracts (unless such contracts may be terminated at or prior to
Closing at no cost to Buyer) or, where the consent of Seller is required, permit
any tenants to enter into any contracts pertaining to the Property;
6.10.5    maintain the Property and Personal Property in condition at least as
good as at the time of Buyer’s inspection under Section 3.3 above;
6.10.6    not deplete the supplies of the Property other than in the normal
course;
6.10.7    not apply any security deposit against delinquent rent except in the
normal course of business;
6.10.8    promptly notify Buyer of any condemnation, environmental, zoning or
other land use regulation proceedings, any notices of violations of any Laws and
any litigation that arises out of the ownership of the Property, in each case to
the extent Seller obtains knowledge thereof;

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6.10.9    maintain or cause to be maintained, at Seller’s sole cost and expense,
all polices of insurance currently in effect with respect to the Property (or
comparable replacements thereof);
6.10.10    deliver to Buyer copies of all operating statements prepared in the
ordinary course of business within fifteen (15) days after Seller’s preparation
thereof relating to periods prior to Closing, even if prepared after Closing;
6.10.11    deliver to Buyer copies of any bills for Taxes and personal property
taxes and copies of any notices pertaining to real estate taxes, Assessments or
other matters of material importance to the Property that are received by Seller
after the Effective Date, even if received after Closing;
6.10.12    not create any new encumbrance or lien affecting the Property; and
6.10.13    complete and deliver to Buyer within three (3) business days after
the Effective Date the “Know Your Customer” form attached hereto as Schedule
6.10.13.
6.11    Seller shall not, after the Effective Date, enter into any new Leases or
any amendment of existing Leases, or permit any tenant to enter into any
sublease, assignment or other agreement (where the consent of Seller is required
under the applicable Lease), or waive any material rights of landlord under any
Lease, without in each case obtaining Buyer’s prior written consent thereto,
which consent in the case of any new Lease shall include approval of the
financial condition of the proposed tenant and the terms of such Lease
(including, without limitation, the rent and any concessions provided under such
proposed Lease), which consent shall not be unreasonably withheld or
conditioned. Notwithstanding the foregoing, Buyer’s consent shall not be
required for any new Leases or amendments to existing Leases that are on
Seller’s standard form lease; provided, however, Seller shall deliver copies of
any such permitted Lease within one (1) business day after execution thereof by
tenant. Notwithstanding anything to the contrary provided in this Section 6.11,
if Buyer fails to disapprove in writing any such new Lease or other action
requiring Buyer’s consent under this Section 6.11 within two (2) business days
after Buyer’s receipt of such request and information, Buyer shall be deemed to
have approved such new Lease or other action. If Buyer disapproves of such new
Lease or other action, Buyer shall provide Seller, along with such written
notice of disapproval, the reasons for Buyer’s disapproval.
6.12    Seller and Buyer each warrant and represent to the other that it has not
had any contact or dealings regarding the Property, or any communication in
connection with the subject matter of this transaction, through any real estate
broker or other person who can claim a right to a commission or finder’s fee in
connection with the sale contemplated herein except for Colliers International,
whose commission and fees shall be paid by Seller. In the event that any other
broker or finder makes a claim for a commission or finder’s fee based upon any
contact, dealings or communication, the party whose conduct is the basis for the
broker or finder making its claim shall indemnify, defend and hold harmless
other party against and from any commission, fee, liability, damage, cost and
expense, including without limitation, attorneys’ fees, arising out of or
resulting from any such claim. The provisions of this Section 6.12 shall survive
the Closing, or in the event that the Closing does not occur, the termination of
this Agreement.

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7.    Default.
7.1    If any action is brought by either party against the other party, the
prevailing party shall be entitled to recover court costs incurred and
reasonable attorneys’ fees and costs.
7.2    The obligations of Buyer contained herein are intended to be binding only
on the property of the Buyer and shall not be personally binding upon, nor shall
any resort be had to the private properties of any of the members, managers,
employees or officers. All documents to be executed by Buyer shall also contain
the foregoing exculpation.
7.3    IF SELLER DEFAULTS HEREUNDER, BUYER MAY, AS ITS SOLE AND EXCLUSIVE REMEDY
EXCEPT WHERE ANOTHER REMEDY IS SPECIFICALLY PROVIDED TO BUYER UNDER THIS
AGREEMENT, (I) TERMINATE THIS AGREEMENT, RECEIVE THE RETURN OF THE DEPOSIT, AND
RECEIVE FROM SELLER AN AMOUNT EQUAL TO BUYER’S ACTUAL OUT-OF-POCKET EXPENSES
RELATED TO THIS TRANSACTION IN AN AMOUNT NOT TO EXCEED FIFTY THOUSAND AND NO/100
DOLLARS ($50,000.00), (II) ENFORCE SPECIFIC PERFORMANCE OF THIS AGREEMENT OR
(III) IN THE EVENT SELLER INTENTIONALLY CONVEYS OR ENCUMBERS ANY PART OF THE
PROPERTY TO A THIRD PARTY (OTHER THAN PERMITTED LEASES) AND SUCH CONVEYANCE OR
ENBUMBRANCE IS NOT REMEDIED BY CLOSING AND SPECIFIC PERFORMANCE IS NOT AVAILABLE
AS A RESULT OF SUCH CONVEYANCE OR ENCUMBRANCE, SUE SELLER FOR DAMAGES. IF SAID
SALE IS NOT CONSUMMATED BECAUSE OF A DEFAULT UNDER THIS AGREEMENT SOLELY ON THE
PART OF BUYER, THE DEPOSIT SHALL BE PAID TO AND RETAINED BY SELLER AS LIQUIDATED
DAMAGES. THE PARTIES HAVE AGREED THAT SELLER’S ACTUAL DAMAGES, IN THE EVENT OF
SUCH A DEFAULT BY BUYER, WOULD BE EXTREMELY DIFFICULT OR IMPRACTICABLE TO
DETERMINE. THE PARTIES ACKNOWLEDGE THAT THE DEPOSIT HAS BEEN AGREED UPON, AFTER
NEGOTIATION, AS THE PARTIES’ REASONABLE ESTIMATE OF SELLER’S DAMAGES AND AS
SELLER’S EXCLUSIVE REMEDY AGAINST BUYER, AT LAW OR IN EQUITY, IN THE EVENT OF
SUCH A DEFAULT UNDER THIS AGREEMENT SOLELY ON THE PART OF BUYER.
8.    Miscellaneous.
8.1    This Agreement supersedes any and all agreements between the parties
hereto regarding the Property which are prior in time to this Agreement and can
be amended only in writing.
8.2    If the Improvements are destroyed or materially damaged, or if
condemnation proceedings are commenced against the Property, between the
Effective Date and the Closing, Buyer may terminate this Agreement and receive
the return of the Deposit upon notice to Seller on or before fifteen (15) days
after Seller notifies Buyer of such damage or condemnation. If Buyer elects to
accept the Property in its then condition, all proceeds of insurance or
condemnation awards payable to Seller by reason of such damage or condemnation
shall be paid or assigned to Buyer; Seller shall also pay to Buyer the amount of
any deductible and/or co‑insurance under any such policy and the estimated
amount of loss of rent from existing tenants expected to be suffered by Buyer as
a result of such damage. In the event of non‑material damage to the Property,
which

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damage Seller is unwilling to repair prior to Closing, Buyer shall accept the
Property in its then condition and in doing so, shall be entitled to a reduction
in the Purchase Price to the extent of (i) the cost of repairing such damage, as
determined by engineers employed by Buyer as part of its due diligence as
provided in Section 3.3, and the (ii) estimated amount of loss of rent from
existing tenants expected to be suffered by Buyer as a result of such damage.
8.3     RESERVED
8.4    Time is of the essence of this Agreement.
8.5    Any tender, notice, consent or approval required or permitted to be given
under this Agreement shall be in writing and shall be deemed to have been given
upon (i) hand delivery, (ii) upon delivery to a private contract carrier that
assures same or next day delivery and provides a receipt, (iii) upon receipt, if
transmitted by facsimile telecopy or by e-mail in .pdf, with a copy sent on the
same day by one of the other permitted methods of delivery, or (iv) upon receipt
or refused delivery, if deposited in the United States mail, registered or
certified mail, postage prepaid, return receipt requested, and in all cases
addressed as follows:
To Buyer:
RREEF America L.L.C.
222 S. Riverside Plaza, 26th Floor
Chicago, IL 60606
Attention: Jeffrey S. Anderson
Phone No.: (312) 537-9202
Fax No.: (312) 537-9346
E-Mail: jeff.anderson@db.com

with a copy to:
Alston & Bird LLP
1201 W. Peachtree Street
Atlanta, GA 30309
Attention: James G. Farris, Jr.
Phone No.: (404) 881-7896
Fax No.: (404) 881-7777
E-Mail: jay.farris@alston.com

To Seller:
Flats at Carrs Hill, LP
3030 Hartley Road, Suite 310
Jacksonville, FL 32257
Attention: Will Morgan
Phone No.: (904) 288-7810
Fax No.: (904) 260-9031
E-Mail: morgan@vestcor.com

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with a copy to:
Stearns Weaver Miller Weissler Alhadeff & Sitterson, P.A.
150 West Flagler Street, Suite 2200
Miami, FL 33130
Attention: Terry M. Lovell, Esq.
Phone No.: (305) 789-3308
Fax No.: (305) 789-2631
E-Mail: tlovell@stearnsweaver.com

or such other addresses as either party may from time to time specify in writing
to the other. Any notice required under this Agreement, may be given in writing
by the law firm representing the party giving said notice.
8.6    This Agreement shall be binding upon and inure to the benefit of the
successors and assigns of the parties hereto, provided Seller may not assign its
rights or obligations hereunder without the prior written consent of Buyer and
Buyer may not assign its rights or obligations hereunder except as provided in
Section 6.2.
8.7    The performance and interpretation of this Agreement shall be controlled
by the laws of the state in which the Property is located.
8.8    During the term of this Agreement, so long as Buyer is not in default
hereunder, Seller shall not make or accept any offers to sell the Property,
engage in any discussions or negotiations with any third party with respect to
the sale or other disposition of the Property, or enter into any contracts or
agreements regarding any disposition of the Property.
8.9    Each party agrees to maintain in confidence, and not to disclose to any
third party, the information contained in this Agreement or pertaining to the
sale contemplated hereby and the information and data furnished or made
available by Seller to Buyer, its Agents and representatives in connection with
Buyer’s investigation of the Property and the transactions contemplated by the
Agreement; provided, however, that each party, Buyer’s Agents and
representatives may disclose such information and data (i) to such party’s
accountants, attorneys, prospective lenders, clients, members, partners,
consultants and other advisors in connection with the transactions contemplated
by this Agreement (collectively “Representatives”) to the extent that such
Representatives reasonably need to know (in the respective party’s reasonable
discretion) such information and data in order to assist, and perform services
on behalf of, such party, (ii) to the extent required by any Law or court order,
(iii) in connection with any securities filings, registration statements or
similar filings undertaken by Buyer; and (iv) in connection with any litigation
that may arise between the parties in connection with the transactions
contemplated by this Agreement. Both parties shall consult with each other prior
to making any press release intended for general circulation regarding the
transactions contemplated hereunder. The provision of this Section 8.9 shall
survive the Closing, or in the event that the Closing does not occur, the
termination of this Agreement.
8.10    If the time period by which any right, option or election provided under
this Agreement must be exercised, or by which any act required hereunder must be
performed, or by which the Closing must be held, expires on a Saturday, Sunday
or legal or bank holiday, then such

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time period shall be automatically extended through the close of business on the
next regularly scheduled business day.
8.11    Buyer represents and warrants to Seller that Buyer is a knowledgeable,
experienced and sophisticated buyer of real estate.  Buyer acknowledges that,
except for the representations and warranties made by Seller in this Agreement
and any of the documents executed by Buyer at Closing, Buyer has not relied upon
and will not rely upon, either directly or indirectly, any statement or other
information of or from Seller or any of its affiliates or any principal,
partner, manager, officer, director, trustee, agent, employee or other person
acting or purporting to act on behalf of Seller or any of its affiliates.  Buyer
acknowledges that it has conducted or will conduct such inspections and
investigations as to the condition of the Property and all matters bearing upon
the Property and the construction, prospects, operations and results of
operations thereof as it deems necessary or appropriate.  Buyer is acquiring the
Property “as is” and “where is” and with all faults, defects or other adverse
matters, and upon Closing, will accept the Property subject to adverse
structural, physical, economic, environmental and other conditions that may then
exist whether or not revealed by the inspections and investigations conducted by
Buyer or disclosed by Seller, and except for the representations and warranties
made by Seller in this Agreement or in any document executed by Seller at
Closing, Buyer specifically waives and releases (a) all warranties, express,
implied, statutory or otherwise (including warranties of merchantability and
warranties of fitness for use or acceptability for the purpose intended by
Buyer) with respect to the Property (except for any warranties of title provided
in the deed) or its condition or the construction, prospects, operations or
results of operations of the Property and (b) all rights, remedies, recourse or
other basis for recovery (including any rights, remedies, recourse or basis for
recovery based on negligence or strict liability) that Buyer might otherwise
have against Seller or any of its affiliates, any person who holds a direct or
indirect ownership interest in Seller or any such affiliate and the respective
principals, partners, officers, directors, trustees, agents and employees of
each such person in respect of the condition of the Property.  Notwithstanding
anything herein to the contrary (including the foregoing release), Buyer shall
have the right to defend (but Buyer has no right to assert, file or otherwise
proceed with a contribution, indemnity or other claim against Seller) government
and third-party claims by alleging that Seller (or someone acting on Seller’s
behalf), not Buyer, is liable for such claims and Buyer has no obligation to
indemnify Seller for governmental or third party claims asserted before or after
the Closing as a result of any act or omission taken or failed to be taken by or
on Seller’s behalf prior to the Closing. Buyer acknowledges and agrees that the
disclaimers, waivers and releases set forth in this Section 8.11 are an integral
part of this Agreement and that Seller would not have agreed to complete the
transactions contemplated hereby on the terms provided in this Agreement without
the disclaimers, waivers and releases set forth in this Section 8.11.  This
Section 8.11 shall survive Closing.

[Signatures Appear on Following Pages]

20

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
dates set forth below.
Dated: September 24, 2015
BUYER:
RREEF AMERICA L.L.C.,
a Delaware limited liability company
By /s/ Jeff Anderson   
Name:            Jeff Anderson               
Title:            Vice President               

[Signatures Continue on Following Page]

21

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Dated: September 24, 2015

SELLER:
FLATS AT CARRS HILL, LP,
a Florida limited partnership

By: Flats at Carrs Hill, LLC, a Florida limited
         liability company, its general partner

         By: JDR Partners, Inc., a Florida
                 corporation, its manager

                 By:        /s/ William L. Morgan   
                 Name:      William L. Morgan     
                 Title:        Vice President           

22

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LIST OF EXHIBITS AND SCHEDULES
EXHIBIT A    LEGAL DESCRIPTION
EXHIBIT B    PERSONAL PROPERTY
EXHIBIT B-1    EXCLUDED PERSONAL PROPERTY

Schedule 2    EARNEST MONEY ESCROW INSTRUCTIONS
Schedule 5.1.2    SERVICE CONTRACTS
Schedule 5.1.13    PENDING COLLECTION AND EVICTION ACTIONS
Schedule 5.1.19    NAMES AND TRADEMARKS
Schedule 6.4.2.1    DEED
Schedule 6.4.2.2    FIRPTA
Schedule 6.4.2.5    ASSIGNMENT OF LEASES
Schedule 6.4.2.6    ASSIGNMENT OF INTANGIBLE PROPERTY
Schedule 6.4.2.9    BILL OF SALE
Schedule 6.4.2.11    REAFFIRMATION OF REPRESENTATIONS AND WARRANTIES
Schedule 6.4.2.15    FORM OF AFFIDAVITS REGARDING BROKERS
Schedule 6.4.2.21    AFFIDAVIT OF SELLER’S GAIN
Schedule 6.4.2.22    FORM OF REPRESENTATION LETTER
Schedule 6.10.13    “KNOW YOUR CUSTOMER” FORM

 

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EXHIBIT A
LEGAL DESCRIPTION

[rreefflatsatcarrs_image1a01.gif]

 

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EXHIBIT B
PERSONAL PROPERTY
[rreefflatsatcarrs_image2a01.gif]

 

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EXHIBIT B-1
EXCLUDED PERSONAL PROPERTY
Description
Make
Serial #
Laptop
Think Pad
R90FFwF
Tablet
Apple iPad
DYVJ7NFXDFHW

LEGAL02/35842903v8
 

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Schedule 2
EARNEST MONEY ESCROW INSTRUCTIONS
This Agreement (this “Agreement”) is entered into as of this      day of
              , 2015 by and between FLATS AT CARRS HILL, LP, a Florida limited
partnership (collectively “Seller”), RREEF AMERICA L.L.C. (“Buyer”) and Chicago
Title Insurance Company, 5565 Glenridge Connector, Suite 300, Atlanta, GA 30342,
Attention: Andrew McGarry (“Escrow Agent”).
RECITALS:
A.WHEREAS, Seller and Buyer have entered into that certain Agreement of Purchase
and Sale on or about the date hereof (the “Purchase Contract”), whereby Seller
agreed to sell and Buyer agreed to purchase certain real property located in ,
more particularly described therein (the “Property”);
B.    WHEREAS, the Purchase Contract obligates Buyer to deposit a letter of
credit the “Letter of Credit”) in the sum of Three Hundred Thousand and No/100
Dollars ($300,000.00) with the Escrow Agent within three (3) business days after
the Effective Date to secure its obligations under the Purchase Contract, the
Letter of Credit to be replaced by the Cash Deposit (as hereinafter defined), if
the Purchase Contract is not terminated in accordance with Section 3.4 thereof
prior to the expiration of the Review Period, (the Letter of Credit and the Cash
Deposit, together with any interest earned on the Cash Deposit, shall be
referred to herein as the “Deposit”); and
C.    WHEREAS, the parties now desire to set forth the terms and conditions of
the Escrow.
NOW THEREFORE, in consideration of Ten Dollars ($10.00) in hand paid and other
good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties agree as follows:
AGREEMENTS:
1.    The parties agree that the Cash Deposit will be placed in an
interest-bearing escrow account or other interest bearing instrument which Buyer
may elect from among those offered by Escrow Agent. Any interest earned on the
Deposit shall be deemed to be part of the Deposit. All checks, money orders or
drafts will be processed for collection in the normal course of business. Escrow
Agent may initially deposit such funds in its custodial or escrow accounts which
may result in the funds being commingled with escrow funds of others for a time;
however, as soon as the Cash Deposit has been credited as collected funds to
Escrow Agent’s account, then Escrow Agent shall immediately deposit the Cash
Deposit into an interest bearing account with any reputable trust company, bank,
savings bank, savings association, or other financial services entity approved
by Seller and Buyer. Deposits held by Escrow Agent shall be subject to the
provisions of applicable state statutes governing unclaimed property. Seller and
Buyer will execute the appropriate Internal Revenue Service documentation for
the giving of

LEGAL02/35842903v8
 

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taxpayer identification information relating to this account. Seller and Buyer
do hereby certify that each is aware that the Federal Deposit Insurance
Corporation coverages apply to a maximum legally specified maximum amount per
depositor. Further, Seller and Buyer understand that Escrow Agent assumes no
responsibility for, nor will Seller or Buyer hold same liable for any loss
occurring which arises from a situation or event under the Federal Deposit
Insurance Corporation coverages.
All interest will accrue to and be reported to the Internal Revenue Service for
the account of Buyer, as set forth below:

Name:        RREEF America L.L.C.
Address:    222 S. Riverside Plaza, 26th Floor
Chicago, IL 60606
Attention: Jeffrey S. Anderson
Phone No.: (312) 537-9202
Fax No.: (312) 537-9346

Tax Identification or Social Security No.:    58-2364506

Escrow Agent shall not be responsible for any penalties, or loss of principal or
interest, or any delays in the withdrawal of the funds which may be imposed by
the depository institution as a result of the making or redeeming of the
investment pursuant to Seller and Buyer instructions.
2.    In the event Buyer terminates the Purchase Contract pursuant to Section
3.4 thereof on or before the end of the Review Period, Escrow Agent shall upon
the written request of Buyer deliver the Deposit to Buyer and notify Seller of
such disbursement (the “Termination Date”). Any request from Buyer received by
Escrow Agent to return the Deposit to Buyer on or before the Termination Date
shall constitute Buyer’s election to terminate the Purchase Contract pursuant to
Section 3.4 of the Purchase Contract. Buyer shall send a copy of any such
request to Seller simultaneously with delivery of such request to Escrow Agent.
If the Purchase Contract is not terminated by Buyer pursuant to Section 3.4 of
the Purchase Contract, and Buyer replaces the Letter of Credit with cash in the
amount of $800,000.00 (the “Cash Deposit”), then upon Escrow Agent’s receipt of
the Cash Deposit, the Letter of Credit shall be returned to Buyer. Escrow Agent
shall, no later than two (2) business days prior to the expiry date of the
Letter of Credit, draw down the face amount thereof and hold the proceeds as the
Deposit in accordance herewith.
3.    In the event that either party delivers a request for the Deposit to
Escrow Agent after the Termination Date, Escrow Agent shall notify the other
party of such request and, if Escrow Agent does not receive a notice from the
other within seven (7) days after the Escrow Agent’s notice disputing the
disbursement, Escrow Agent shall disburse the Deposit in accordance with the
terms of the Purchase Contract. In the event that any party hereto timely
delivers a notice to the other parties hereto disputing a disbursement request,
Escrow Agent shall continue to hold such disputed funds until Escrow Agent shall
receive a joint order from Buyer and Seller requesting such disbursement or
Escrow Agent shall receive an order, judgment or decree of any court ordering
disbursement. In the event that Escrow Agent complies with any orders, judgments
or decrees issued or entered by any court, Escrow Agent shall not be liable to

2

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any of the parties hereto by reason of such compliance. In the absence of such a
joint order or court order, Escrow Agent may do nothing or may commence an
interpleader action as set forth in Section 4 below.
4.    Escrow Agent may pay the Deposit into a court of competent jurisdiction
upon commencement by Escrow Agent of an interpleader action in such court. The
costs and attorneys’ fees of Escrow Agent for such interpleader action shall be
paid one-half by each of the parties.
5.    For purposes of this Agreement, notices sent by facsimile or personal
delivery may be addressed as follows:
To Buyer:
RREEF America L.L.C.
222 S. Riverside Plaza, 26th Floor
Chicago, IL 60606
Attention: Jeffrey S. Anderson
Phone No.: (312) 537-9202
Fax No.: (312) 537-9346

with a copy to:
Alston & Bird LLP
1201 W. Peachtree Street
Atlanta, GA 30309
Attention: James G. Farris, Jr.
Phone No.: (404) 881-7896
Fax No.: (404) 881-7777

To Seller:
Flats at Carrs Hill, LP
3030 Hartley Road, Suite 310
Jacksonville, FL 32257
Attention: Will Morgan
Phone No.: (904) 288-7810
Fax No.: (904) 260-9031

with a copy to:
Stearns Weaver Miller Weissler Alhadeff & Sitterson, P.A.
150 West Flagler Street, Suite 2200
Miami, FL 33130
Attention: Terry M. Lovell, Esq.
Phone No.: (305) 789-3308
Fax No.: (305) 789-2631

To Escrow Agent
Chicago Title Insurance Company
5565 Glenridge Connector, Suite 300
Atlanta, GA 30342
Attention: Andrew McGarry
Phone No.: 770-850-9600
Fax No.:

6.    Escrow Agent shall not charge for its services hereunder. Escrow Agent
shall not be required to advance its own funds for any purpose provided that any
such advance, made at its

3

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option, shall be promptly reimbursed by the party for whom it is advanced, and
such optional advance shall not be an admission of liability on the part of
Escrow Agent.
7.    Escrow Agent shall have only such duties as are herein specifically
provided and shall incur no liability whatsoever, except for willful misconduct
or gross negligence so long as Escrow Agent has acted in good faith. Escrow
Agent may consult with counsel and shall be fully protected in any action taken
in good faith in accordance with such advice. Escrow Agent shall be fully
protected in acting in accordance with any written instrument given to it
hereunder and believed by it to have been signed by any proper party. In case of
any suit or proceeding regarding this Escrow, to which the Escrow Agent is or
may be at any time a party, it shall have a lien on the contents hereof for any
and all costs, attorney’s and solicitor’s fees whether such attorney(s) or
solicitor(s) shall be regularly retained or specially employed, and other
expenses which it may have incurred or become liable for on account hereof, and
it shall be entitled to reimburse itself therefor out of the Deposit, and the
undersigned jointly and severally agree to pay to the Escrow Agent upon demand
all such costs, fees and expenses so incurred.
8.    Escrow Agent shall not be liable for any loss or damage resulting from the
following:

( a )    The effect of the transaction underlying this Agreement including
without limitation, any defect in the title to the real estate, any failure or
delay in the surrender of possession of the property, the rights or obligations
of any party in possession of the property, the financial status or insolvency
of any other party, and/or any misrepresentation of fact made by any other
party;

( b )    The default, error, act or failure to act by any other party to the
escrow;

( c )    Any loss, loss of value or impairment of funds which have been
deposited in escrow while those funds are in the course of collection or while
those funds are on deposit in a depository institution if such loss or loss of
value or impairment results from the failure, insolvency or suspension of a
depository institution;

( d )    Any defects or conditions of title to any property that is the subject
of this escrow provided, however, that this limitation of liability shall not
affect the liability of Chicago Title Insurance Company under any title
insurance policy which it has issued or may issue. NOTE:    No title insurance
liability is created by this Agreement.

( e )    Escrow Agent’s compliance with any legal process including but not
limited to, subpoena, writs, orders, judgments and decrees of any court whether
issued with or without jurisdiction and whether or not subsequently vacated,
modified, set aside or reversed.

9.    This Agreement shall terminate upon the first to occur of (a) the
disbursement by Escrow Agent of all of the Deposit; or (b) the joint written
instructions of Buyer and Seller.

10.    Payment of the funds so held in escrow by the Escrow Agent, in accordance
with the terms, conditions and provisions of this Agreement, shall fully and
completely discharge and exonerate the Escrow Agent from any and all future
liability or

4

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obligations of any nature or character at law or equity to the parties hereto or
under this Agreement.

11.    This Agreement shall be binding upon and inure to the benefit of the
parties respective successors and assigns.

12.    This Agreement shall be governed by and construed in accordance with the
laws of the state in which the Property is located.

13.    This Agreement may be executed in any number of counterparts, each of
which shall be deemed to be an original, but all of which, when taken together,
shall constitute but one and the same instrument.

14.    Time shall be of the essence of this Agreement and each and every term
and condition hereof.

15.    In the event a dispute arises between Buyer and Seller under this
Agreement, the losing party shall pay the attorney’s fees and court costs of the
prevailing party.

5

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IN WITNESS WHEREOF, the parties have executed this Agreement as of the date
first above written.

Dated:                           , 2015

BUYER:
RREEF AMERICA L.L.C.,
a Delaware limited liability company
By:                                    
Name:                                    
Title:                                     

6

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Dated:                          , 2015

SELLER:
FLATS AT CARRS HILL, LP,
a Florida limited partnership

By: Flats at Carrs Hill, LLC, a Florida limited
        liability company, its general partner

        By: JPR Partners, Inc., a Florida corporation,
                its manager

                By:                                         
                Name:                                    
                Title:                                    

7

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Dated: ___________________, 2015

ESCROW AGENT:

Chicago Title Insurance Company

By: _____________________________
Name:___________________________
Title: ____________________________

8

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Schedule 5.1.2
SERVICE CONTRACTS
[rreefflatsatcarrs_image3a01.gif]

LEGAL02/35842903v8
 

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Schedule 5.1.13
LIST OF PENDING EVICTION AND COLLECTION ACTIONS
None.

LEGAL02/35842903v8
 

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Schedule 5.1.19
NAMES AND TRADEMARKS
1.
Flats at Carrs Hill

LEGAL02/35842903v8
 

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Schedule 6.4.2.1
FORM OF DEED

UPON RECORDING RETURN TO:

Alston & Bird LLP
One Atlantic Center
1201 West Peachtree Street
Atlanta, Georgia 30309‑3424
Attention: James G. Farris, Jr.
 

LIMITED WARRANTY DEED

STATE OF             

COUNTY OF         

THIS INDENTURE, made as of the _____ day __________, 2015, between FLATS AT
CARRS HILL, LP, a Florida limited partnership (herein called “Grantor”), and
                ,             (herein called “Grantee”), whose mailing address
is                                     .

WITNESSETH: That Grantor, for the sum of Ten Dollars ($10.00) and other good and
valuable consideration, in hand paid at and before the sealing and delivery of
these presents, the receipt and sufficiency of which are hereby acknowledged,
has granted, bargained, sold, aliened, conveyed and confirmed and by these
presents does grant, bargain, sell, alien, convey and confirm unto Grantee all
that tract or parcel of land described on Exhibit A, attached hereto and made a
part hereof.

TO HAVE AND TO HOLD the said bargained premises, together with all and singular
the rights, members and appurtenances thereof, to the same being, belonging or
in any wise appertaining, to the only proper use, benefit and behoof of Grantee,
forever, IN FEE SIMPLE.

This Deed and the warranty of title contained herein are made expressly subject
to the list of permitted exceptions set forth on Exhibit B attached hereto and
made a part hereof (collectively, the “Permitted Exceptions”).

Except as to any claims arising from or with respect to the Permitted
Exceptions, Grantor will warrant and forever defend the right and title to the
above described property unto Grantee against the lawful claims of all persons
owning, holding or claiming by, through or under Grantor, but not otherwise.

LEGAL02/35842903v8
 

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(The words “Grantor” and “Grantee” include all genders, plural and singular, and
their respective heirs, successors and assigns where the context requires or
permits.)
IN WITNESS WHEREOF, Grantor has signed and sealed this deed, the day and year
first above written.

Signed, sealed and delivered in the presence of:

   
Unofficial Witness

   
Notary Public

              (NOTARY SEAL)

My Commission Expires:

   

FLATS AT CARRS HILL, LP,
a Florida limited partnership

By: Flats at Carrs Hill, LLC, a Florida
        limited liability company, its general
        partner

         By: JPR Partners, Inc., a Florida
                 corporation, its manager

                 By:______________________
                 Name: ___________________
                 Title: ____________________

LEGAL02/35842903v8
 

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EXHIBIT A

LEGAL DESCRIPTION

LEGAL02/35842903v8
 

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EXHIBIT B

PERMITTED TITLE EXCEPTIONS

LEGAL02/35842903v8
 

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Schedule 6.4.2.2

FORM OF NON-FOREIGN AFFIDAVIT

The undersigned deponent (the “Deponent”), having personally appeared before the
undersigned notary public and first having been duly sworn according to law,
deposes and says under oath as follows:

1.    Deponent is presently a __________ of Flats at Carrs Hill, LP, a Florida
limited partnership (the “Seller”).

2.    In such capacity, the Deponent has personal knowledge of the facts sworn
to in this affidavit and such facts are true and correct.

3.    The Seller is the owner of certain real estate, a description of which is
set forth on Exhibit A attached hereto and made a part hereof, together with all
fixtures, improvements, easements and appurtenances related thereto
(collectively, the “Property”).

4.    Deponent understands that Section 1445 of the United States Internal
Revenue Code of 1986 (as amended, the “Code”), provides that a transferee of a
U.S. real property interest must withhold tax if the transferor is a “foreign
person” (as defined in the Code). For U.S. tax purposes (including
Section 1445), the owner of a disregarded entity (which has legal title to a
U.S. real property interest under local law) will be the transferor of the
property and not the disregarded entity. To inform [PURCHASER NAME:
________________], [a ______________________] (the “Transferee”) that
withholding of tax is not required upon the disposition of a U.S. real property
interest by the Seller, Deponent hereby certifies the following:

(a)    The Seller is not a “non-resident alien” for purposes of United States
income taxation or otherwise a “foreign person,” as defined in Section 1445 of
the Code.

(b)    The Seller is not a disregarded entity as defined in
Section 1.1445-2(b)(2)(iii) of the Income Tax Regulations issued under the Code.

(c)    The Seller’s United States taxpayer identification number is
______________________.

(d)    The address (and, if different, the mailing address) of the Seller is
____________________________.

(e)    The Seller owns 100% of the aforesaid Property.

(f)    Deponent is making this Affidavit pursuant to the provisions of Section
1445 of the Code in connection with the conveyance of the real property
described on Exhibit A, attached hereto and incorporated herein by reference, by
the Seller to

LEGAL02/35842903v8
 

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Transferee, which conveyance constitutes the disposition by the Seller of a
United States real property interest, for the purpose of establishing that
Transferee is not required to withhold tax pursuant to Section 1445 of the Code
in connection with such disposition.

(g)    Deponent acknowledges that this Affidavit may be disclosed to the
Internal Revenue Service by Transferee, that this Affidavit is made under
penalty of perjury, and that any false statement made herein could be punished
by fine, imprisonment or both.

5.    Under penalty of perjury, I declare that I have examined the foregoing
Affidavit and hereby certify that it is true, correct and complete and I further
declare that I have the authority to make this affidavit and the certifications
contained herein on behalf of the Seller.

Certified, sworn to and subscribed before me this ___ day of ____________, 20__.

________________________
Notary Public

My Commission Expires:

________________________

(NOTARIAL SEAL)

   
Name:

LEGAL02/35842903v8
 

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EXHIBIT A
LEGAL DESCRIPTION

LEGAL02/35842903v8
 

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Schedule 6.4.2.5
FORM OF ASSIGNMENT AND ASSUMPTION OF LEASES
FOR VALUE RECEIVED, the undersigned, FLATS AT CARRS HILL, LP, a Florida limited
partnership (“Assignor”), hereby assigns, transfers and sets over to
                                     (“Assignee”), all interest of the
undersigned in any and all leases (the “Leases”) demising and leasing any
portion of the premises legally described on Exhibit A attached hereto,
including but not limited to those listed on Exhibit B attached hereto, together
with all rents payable under the Leases and all benefits and advantages to be
derived therefrom to hold and receive them unto the Assignee, and together with
all rights against guarantors, if any, of the obligations of the lessees under
the Leases.
1.    Assignor hereby assumes full responsibility for all obligations and
defaults of landlord under the Leases accrued to the date hereof, and full
responsibility for any commissions owed in connection with any of the Leases.
Assignor also agrees to indemnify, defend and hold Assignee harmless from any
claims, liabilities or costs (including reasonable attorneys’ fees) arising from
Assignor’s failure to perform said obligations.
2.    Assignee hereby assumes full responsibility for all obligations of
landlord under the Leases accruing after the date hereof other than any leasing
commissions or other costs incurred in connection with such Leases. Assignee
also agrees to indemnify, defend and hold Assignor harmless from any claims,
liabilities or costs (including reasonable attorneys’ fees) arising from
Assignee’s failure to perform said obligations.
[Signatures on following page]

LEGAL02/35842903v8
 

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IN WITNESS WHEREOF, Assignor and Assignee have executed this Assignment as of
the    day of              , 20  .
 
ASSIGNOR:

FLATS AT CARRS HILL, LP,
a Florida limited partnership

By: Flats at Carrs Hill, LLC, a Florida limited
         liability company, its general partner

         By: JPR Partners, Inc., a Florida
                 corporation, its manager

                 By:__________________________
                 Name: _______________________
                 Title: ________________________
 

ASSIGNEE:

_____________________________________

By: _________________________________
Name: _______________________________
Title: ________________________________

LEGAL02/35842903v8
 

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EXHIBIT A
LEGAL DESCRIPTION

LEGAL02/35842903v8
 

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EXHIBIT B
LEASES

LEGAL02/35842903v8
 

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Schedule 6.4.2.6
FORM OF ASSIGNMENT OF INTANGIBLE PROPERTY
THIS ASSIGNMENT (the “Assignment”), dated this    day of                      ,
20  , by and among FLATS AT CARRS HILL, LP, a Florida limited partnership
(“Assignor”), and                                            (“Assignee”).
WHEREAS, Assignee has this day purchased Assignor’s interest in the real
property legally described on the attached Exhibit A (the “Property”); and
WHEREAS, the execution and delivery of this Assignment is a condition precedent
to the purchase by the Assignee of the Property;
NOW, THEREFORE, in consideration of the purchase and sale of the Property, and
for other good and valuable consideration, Assignor agrees as follows:
1.    Assignor hereby grants, transfers and assigns to Assignee all the right,
title and interest of Assignor in and to the following:
(i)    to the extent such may be assigned, all licenses, permits, certificates
of occupancy, approvals, dedications, subdivision maps or plats and entitlements
issued, approved or granted by federal, state or municipal authorities or
otherwise in connection with the Property and its renovation, construction, use,
maintenance, repair, leasing and operation; and all licenses, consents,
easements, rights of way and approvals required from private parties to make use
of utilities, to insure pedestrian ingress and egress to the Property and to
insure continued use of any vaults under public rights-of-way presently used in
the operation of the Property.
(ii)    any trade style or trade name used in connection with the Property; and,
(iii)    all correspondence with the tenants under tenant leases, all booklets
and manuals relating to the maintenance and operation of the Property.
The foregoing are collectively referred to herein as the “Intangibles”.
2.    Assignor hereby grants, transfers and assigns to Assignee all the right,
title and interest of Assignor in and to the following (which shall include, but
not be limited to, those contracts specifically listed on Exhibit B):
(i)    any and all service agreements, maintenance contracts, contracts for the
purchase or delivery of labor, services, materials, goods, inventory or
supplies, cleaning contracts, equipment rental agreements or leases, together
with all supplements, amendments and modifications thereto, relating to the
Property or Assignor; and,
(ii)    all presently effective and assignable warranties, guaranties,
representations or covenants given to or made in favor of Assignor or Assignor’s
affiliates

    

LEGAL02/35842903v8

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in connection with the acquisition, development, construction, maintenance,
repair, renovation or inspection of the Property.
Provided, however, that the contracts specifically listed on Exhibit C hereto
shall be excluded from this Assignment. The foregoing are collectively referred
to herein as the “Contracts”.
3.    Assignor agrees to assume full responsibility for all the obligations
under the Intangibles and the Contracts accruing prior to the date hereof and
Assignor agrees to indemnify and hold Assignee harmless from any claims,
liabilities or costs arising from Assignor’s failure to perform said
obligations.
4.    Assignee assumes full responsibility for all obligations accruing under
the Intangibles and the Contracts from and after the date hereof and Assignee
agrees to indemnify and hold Assignor and its predecessors in title harmless
from all claims, liabilities or costs arising from Assignee’s failure to perform
said obligations.
5.    EXCEPT AS SPECIFICALLY SET FORTH IN THAT CERTAIN AGREEMENT OF PURCHASE AND
SALE BETWEEN ASSIGNOR AND ASSIGNEE’S PREDECESSOR IN INTEREST DATED SEPTEMBER __,
2015 (AS ASSIGNED TO ASSIGNEE, THE “PURCHASE AGREEMENT”), ASSIGNEE ACKNOWLEDGES
THAT ASSIGNOR HAS NOT MADE AND DOES NOT MAKE ANY REPRESENTATIONS AS TO THE
CONDITION, OR ANY OTHER MATTER AFFECTING OR RELATED TO THE INTANGIBLES OR THE
CONTRACTS, OR AS TO ANY MATTERS OF TITLE (OTHER THAN WARRANTIES OF TITLE AS
PROVIDED AND LIMITED HEREIN). ASSIGNEE EXPRESSLY AGREES THAT TO THE MAXIMUM
EXTENT PERMITTED BY LAW, THE INTANGIBLES AND CONTRACTS ARE CONVEYED “AS IS” AND
“WITH ALL FAULTS,” AND EXCEPT AS EXPRESSLY SET FORTH IN THE PURCHASE AGREEMENT,
ASSIGNOR EXPRESSLY DISCLAIMS, AND ASSIGNEE ACKNOWLEDGES AND ACCEPTS THAT
ASSIGNOR HAS DISCLAIMED, ANY AND ALL REPRESENTATIONS, WARRANTIES OR GUARANTEES,
OF ANY KIND, ORAL OR WRITTEN, EXPRESS OR IMPLIED CONCERNING THE INTANGIBLES OR
THE CONTRACTS, INCLUDING, WITHOUT LIMITATION, (i) THE VALUE, CONDITION,
MERCHANTABILITY, HABITABILITY, MARKETABILITY, PROFITABILITY, SUITABILITY OR
FITNESS FOR A PARTICULAR USE OR PURPOSE, OF THE INTANGIBLES OR THE CONTRACTS,
AND (ii) THE MANNER OF REPAIR, QUALITY, STATE OF REPAIR OR LACK OF REPAIR OF ANY
SUCH INTANGIBLES OR THE CONTRACTS.

[Signatures appear on following page]

LEGAL02/35842903v8
 

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IN WITNESS WHEREOF, the parties have executed this Assignment as of the date
first written above.
 
ASSIGNOR:

FLATS AT CARRS HILL, LP,
a Florida limited partnership

By: Flats at Carrs Hill, LLC, a Florida limited
         liability company, its general partner

         By: JPR Partners, Inc., a Florida
                 corporation, its manager

                 By:__________________________
                 Name: _______________________
                 Title: ________________________

 

ASSIGNEE:

_____________________________________

By: _________________________________
Name: _______________________________
Title: ________________________________

LEGAL02/35842903v8
 

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EXHIBIT A
LEGAL DESCRIPTION

LEGAL02/35842903v8
 

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EXHIBIT B
INCLUDED CONTRACTS

LEGAL02/35842903v8
 

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EXHIBIT C
EXCLUDED CONTRACTS

LEGAL02/35842903v8
 

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Schedule 6.4.2.9
FORM OF BILL OF SALE
Flats at Carrs Hill, LP (“Seller”), in consideration of Ten and No/100 Dollars
and other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, hereby sells, transfers, assigns and sets over unto
                      , (“Buyer”), all of its right, title and interest in and
to any and all personal property, which personal property is owned by Seller and
located on the real estate legally described on Exhibit A attached hereto (the
“Personal Property”), including, without limitation, those items specifically
described on Exhibit B attached hereto.
Seller hereby represents and warrants to Buyer that Seller is the absolute owner
of the Personal Property free and clear of all liens, charges and encumbrances,
and that Seller has full right, power and authority to sell the Personal
Property and to make this Bill of Sale.
EXCEPT AS SPECIFICALLY SET FORTH IN THAT CERTAIN AGREEMENT OF PURCHASE AND SALE
BETWEEN SELLER AND BUYER’S PREDECESSOR IN INTEREST DATED SEPTEMBER __, 2015 (AS
ASSIGNED TO BUYER, THE “PURCHASE AGREEMENT”), BUYER ACKNOWLEDGES THAT SELLER HAS
NOT MADE AND DOES NOT MAKE ANY REPRESENTATIONS AS TO THE CONDITION, OR ANY OTHER
MATTER AFFECTING OR RELATED TO THE PERSONAL PROPERTY, OR AS TO ANY MATTERS OF
TITLE (OTHER THAN WARRANTIES OF TITLE AS PROVIDED AND LIMITED HEREIN). BUYER
EXPRESSLY AGREES THAT TO THE MAXIMUM EXTENT PERMITTED BY LAW, THE PERSONAL
PROPERTY IS CONVEYED “AS IS” AND “WITH ALL FAULTS,” AND EXCEPT AS EXPRESSLY SET
FORTH IN THE PURCHASE AGREEMENT, SELLER EXPRESSLY DISCLAIMS, AND BUYER
ACKNOWLEDGES AND ACCEPTS THAT SELLER HAS DISCLAIMED, ANY AND ALL
REPRESENTATIONS, WARRANTIES OR GUARANTEES, OF ANY KIND, ORAL OR WRITTEN, EXPRESS
OR IMPLIED CONCERNING THE PERSONAL PROPERTY, INCLUDING, WITHOUT LIMITATION, (i)
THE VALUE, CONDITION, MERCHANTABILITY, HABITABILITY, MARKETABILITY,
PROFITABILITY, SUITABILITY OR FITNESS FOR A PARTICULAR USE OR PURPOSE, OF THE
PERSONAL PROPERTY, AND (ii) THE MANNER OF REPAIR, QUALITY, STATE OF REPAIR OR
LACK OF REPAIR OF ANY SUCH PERSONAL PROPERTY.
[Signature on Following Page]

LEGAL02/35842903v8
 

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IN WITNESS WHEREOF, Seller has executed this Bill of Sale as of the      day of
                     , 20__ .
 
SELLER:

FLATS AT CARRS HILL, LP,
a Florida limited partnership

By: Flats at Carrs Hill, LLC, a Florida limited
         liability company, its general partner

         By: JPR Partners, Inc., a Florida
                 corporation, its manager

                 By:__________________________
                 Name: _______________________
                 Title: ________________________

LEGAL02/35842903v8
 

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EXHIBIT A
LEGAL DESCRIPTION

LEGAL02/35842903v8
 

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EXHIBIT B
LISTED PERSONAL PROPERTY

LEGAL02/35842903v8
 

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Schedule 6.4.2.11
FORM OF REAFFIRMATION OF REPRESENTATIONS AND WARRANTIES
The undersigned hereby certifies to                                (“Buyer”), on
and as of the date set forth below that all representations and warranties
contained in that certain Agreement of Purchase and Sale (the “Agreement”), by
and between Flats at Carrs Hill, LP, and Buyer’s predecessor in interest dated
_____________ are true and correct in all material respects on and as of the
date set forth below, as if re-made by Seller effective as of the date hereof.
IN WITNESS WHEREOF, the undersigned have executed this Certificate as of this   
day of                   , 20__.

 
SELLER:

FLATS AT CARRS HILL, LP,
a Florida limited partnership

By: Flats at Carrs Hill, LLC, a Florida limited
         liability company, its general partner

         By: JPR Partners, Inc., a Florida
                 corporation, its manager

                 By:__________________________
                 Name: _______________________
                 Title: ________________________

LEGAL02/35842903v8
 

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Schedule 6.4.2.15

FORM OF AFFIDAVITS REGARDING BROKERS

STATE OF ________

COUNTY OF _______

BROKER’S LIEN WAIVER AND ACKNOWLEDGMENT OF PAYMENT

WHEREAS, the undersigned, ________________________ (the “Broker”), has a written
contract for licensed brokerage services regarding the real property (the
“Property”) described on Exhibit A attached hereto and by reference made part
hereof; and

WHEREAS, Flats at Carrs Hill, LP (the “Seller”) has contracted to sell the
Property to ______________ (the “Buyer”) and Seller and Buyer desire to close
the sale of the Property;

NOW, THEREFORE, for and in consideration of the sum of One Dollar ($1.00) in
hand paid by Seller and Buyer to Broker, and other good and valuable
considerations, the receipt and sufficiency whereof are hereby acknowledged, and
in order to induce Buyer to purchase the Property, Broker does hereby for
itself, its employees, agents, personal representatives, successors and assigns,
agree as follows:

a.    Acknowledgment of Receipt. Broker hereby acknowledges receipt in full of
all commissions, fees or other consideration due Broker in connection with the
management, sale, leasing or other conveyance or transfer of any interest in the
Property or otherwise for licensed brokerage services relating to the Property.

b.    Waiver. Broker does hereby waive, relinquish and release any and all
rights, claims and liens which Broker may now or hereafter have in and to the
Property, including, without limitation, any rights, claims and liens of Broker,
or rights to file or have filed any liens, claims of lien, pursuant to Official
Code of Georgia Annotated Sec. 44‑14‑600, et seq. on or against said Property on
account of brokerage services furnished by Broker on or before the date hereof.
In addition, Broker shall and does hereby indemnify and hold harmless Seller and
Buyer from and against any such claim or lien which may be asserted by any
agent, broker, or other intermediary by reason of any act or agreement of
Broker.

c.    All Parties Paid. Broker does hereby certify, warrant and represent that
any and all agents, cooperating brokers and other parties who have performed
brokerage services for Broker in connection with the Property have been paid in
full.

LEGAL02/35842903v8
 

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d.    Authorization. Broker does hereby warrant and represent that the
undersigned Broker (or the individual executing this instrument on behalf of
Broker) has personal knowledge of the matters herein stated, and is authorized
and fully qualified to execute this instrument as or on behalf of the
Undersigned.

e.    Reliance. This instrument may be relied on by Seller, Buyer, any lender
providing a mortgage loan secured by the Property, any title insurance company
insuring title or mortgagee title to the Property or any other party having any
interest in and to the Property or the purchase and sale referenced above, and
is given to induce Buyer to purchase the Property free and clear of any rights,
claims, and liens of Broker.

WITNESS the hand and seal of the Undersigned, as of __________ ____, 20__.

Signed, sealed, sworn to and subscribed before the undersigned unofficial
witness and notary public:

   
Unofficial Witness

   
Notary Public

(NOTARY SEAL)

My Commission Expires:

   

(Attachment: Property Description)
______________________________

By: (SEAL)
   Name:
   Title:

LEGAL02/35842903v8
 

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SELLER’S AFFIDAVIT REGARDING BROKERS

STATE OF __________

COUNTY OF ________

The undersigned deponent, ___________________________ (the “Deponent”), having
personally appeared before the undersigned notary public and first having been
duly sworn according to law, deposes and says under oath as follows:

1.    Deponent is presently a ____________ of Flats at Carrs Hill, LP, a Florida
limited partnership (the “Seller”).

2.    In such capacity, the Deponent has personal knowledge of the facts sworn
to in this affidavit and such facts are true and correct.

3.    The Seller is the owner of certain real estate, a description of which is
set forth on Exhibit A to that certain Deed executed as of even date herewith
from Seller in favor of ____________________________ (“Buyer”) and made a part
hereof (the “Property”). Seller has agreed to sell the Property to Buyer.

4.    Except only for ____________________________, who is to be paid a
commission upon closing of the sale of the Property in the amount set forth on
the Closing Statement between Seller and Buyer of even date herewith, Seller has
not entered into any written agreement with, or otherwise engaged the services
of, any commercial real estate broker for the payment of a real estate
commission or fee relating to the purchase, sale, management, leasing or other
licensed services pertaining to Commercial Real Estate (as defined in O.C.G.A.
§ 44-14-601(3)), and Seller has received no notice of any lien for any such
services. With respect to ____________________, the amount shown on the Closing
Statement is payment in full satisfaction of all amounts owed to said broker or
brokers. This Affidavit is given to induce a title insurance company to permit a
policy or policies of title insurance to be issued without exception for any
possible lien arising from the Commercial Real Estate Broker Lien Act (O.C.G.A.
§ 44-14-600 et seq.).

LEGAL02/35842903v8
 

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5.    This affidavit is made to induce Buyer to purchase the Property for the
purchase price of $______________________; to induce the title insurance company
to issue its owner’s policy insuring Buyer in the amount of said purchase price;
and to induce the attorney certifying title so to certify.

Certified, sworn to and subscribed before me this ___ day of ____________, 20__.

________________________
Notary Public

My Commission Expires:

________________________

(NOTARIAL SEAL)

   
Name:____________________________

LEGAL02/35842903v8
 

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Schedule 6.4.2.21

FORM OF AFFIDAVIT OF SELLER’S GAIN

___________________________
Seller’s Name

_________________________________
Seller’s Identification Number (SSN or FEI)
___________________________
___________________________
___________________________
Street Address

_______________________________
Spouse’s Identification Number (if jointly owned)

Instructions

The seller is required to execute this form or a similar document and present it
to the buyer where the seller wishes to establish the gain to be recognized from
a sale of real property, against which gain the withholding imposed by O.C.G.A.
§48-7-128 is to be applied. In order to be subject to the withholding only upon
the gain recognized, the seller must submit this affidavit with the withholding
return and present a copy of this form to the buyer.

The seller is to complete this document by calculating the gain below and
attaching documentation of the cost basis and selling expenses claimed. The
documents and attachments are to be submitted to the Department of Revenue. A
copy of this affidavit is to be presented to the buyer.

SALE PRICE:                 $_____________________________
LESS COST BASIS            <$____________________________>
LESS SELLING EXPENSES         <$____________________________>
$_____________________________
NET TAXABLE GAIN:         $_____________________________

LEGAL02/35842903v8
 

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Under penalty of perjury, I swear that the above information is, to the best of
my knowledge, and belief, true, correct, and complete.

______________________________
Seller’s signature (and Title, if applicable)

_______________________________
Date

Sworn to and subscribed before me this _____ day of _____________, 20___

______________________________
Notary Public

My commission expires_____________

 

2

LEGAL02/35842903v8

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Schedule 6.4.2.22

FORM OF REPRESENTATION LETTER

KPMG LLP
303 E. Wacker Drive
Chicago, IL 60601

XXXX XX, 20XX

Ladies and Gentlemen:

We are providing this letter in connection with your audit of the Historical
Summary of Gross Income and Direct Operating Expenses (“Historical Summary”) of
_____________________________________ (the “Property”) for the year ended
December 31, 201X for the purpose of expressing an opinion as to whether the
Historical Summary presents fairly, in all material respects, the gross income
and direct operating expenses in conformity with the cash method of accounting.

Certain representations in this letter are described as being limited to matters
that are material. Items are considered material, regardless of size, if they
involve an omission or misstatement of accounting information that, in the light
of surrounding circumstances, makes it probable that the judgment of a
reasonable person relying on the information would be changed or influenced by
the omission or misstatement.

Ambling Management Company provides property management services for the
property. Their duties include maintaining all accounting records and furnishing
monthly financial reports for the property and retaining all such records for a
period of five years.

We confirm, to the best of our knowledge and belief, the following
representations made to you during your audit:

1.    We have made available to you the financial records of the Property and
related data (collectively, “Financial Information”) which we are required to
deliver to ____________________________ (“Purchaser”) pursuant to that certain
Agreement of Purchase and Sale (“Agreement”) for the Property dated __________,
201__, by and between the undersigned, as seller (“Seller”), and Purchaser, as
purchaser (as amended and assigned).

2.    The Financial Information is true, accurate, correct and complete in all
material respects.

LEGAL02/35842903v8

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3.    We acknowledge our responsibility for the design and implementation of
programs and controls to prevent, deter and detect fraud. We understand that the
term “fraud” includes misstatements arising from fraudulent financial reporting
and misstatements arising from misappropriation of assets.

4.    We have no knowledge of any fraud or suspected fraud affecting the
undersigned involving:

a.    Management, or

b.    Employees who have significant roles in internal control over financial
reporting.

5.    We have no knowledge of any allegations of fraud or suspected fraud
affecting the Seller received in communications from employees or former
employees.

6.    We have no knowledge of any officer or director of the Seller, or any
other person acting under the direction thereof, having taken any action to
fraudulently influence, coerce, manipulate or mislead you during your audit of
the Property.

7.    To the best of our knowledge, the Seller has complied with all aspects of
contractual agreements that would have a material effect on the Financial
Information in the event of noncompliance.

8.    All income from operating leases is included as gross income in the
Financial Information. No other forms of revenue are included in the Financial
Information except as shown in the Financial Information.

Further, we confirm that we have made available to you the Financial Information
as required in the Agreement for the year ended December 31, 20XX in conformity
with the cash method of accounting.

Very truly yours,

_______________________, a__________________________

By:             
Name: _____________________
Title: _____________________
 

2

LEGAL02/35842903v8

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Schedule 6.10.13

“KNOW YOUR CUSTOMER” FORM

Counterparty Identification Form
In order to comply with German Money Laundering Act (Section 3 Part no. 2),
which applies on an extraterritorial basis, all Deutsche Bank entities, their
subsidiaries and affiliates are required to identify and maintain records of
their transactional and/or contractual counterparties and the ownership
structure of the funds or assets which are subject to the transaction.
In the Americas, please email your completed form to:
DeAMCounterparty.DueDiligenceRequests@db.com

--------------------------------------------------------------------------------

A.
Counterparty Information

Legal Name:     
Legal
Address:    _________________________________________________________________________
_________________________________________________________________________
Identification
Type:_________________________________________________________________________
Identification
#:    _________________________________________________________________________

Industry:
ð Financial Services    ð Investment Advisory     ð Real Estate Management

ð Other: ___________________________________________________________________
Please provide documents of identification for the entity listed above when
returning this form.

B.
Counterparty Ownership and Control Information

Please respond to the question below regarding the ownership and control
structure of the counterparty.

1)
Does any natural person own/control 25% or more of the counterparty?

ð Yes        ð No
If Yes, please provide information below regarding each control person and/or
beneficial owner that holds/controls 25% or more if the counterparty:
#
Full Name
Date of Birth
Full Address
Nationality
Ownership %
 

 
 
 
 
 

 
 
 
 
 

 
 
 
 
 

 
 
 
 

Please provide documents of identification for the entity listed above when
returning this form.

 

--------------------------------------------------------------------------------

C.
Transaction Information

In what capacity does the counterparty act?
ð Proprietary                 ð Discretionary                     ð
Non-Discretionary
If not Proprietary, please identify the entity for which the counterparty acts:
Legal Name:
    _________________________________________________________________________
Legal
Address:    _________________________________________________________________________
_________________________________________________________________________
Please provide documents of identification for the entity listed above when
returning this form.

D.
Transaction Investor and Ownership Information

Please respond to the questions below regarding the ownership structure of the
funds or assets which are subject to the transaction.
1)
Does any investor or beneficial owner own/control 25% or more transaction
assets?

ð Yes        ð No
If Yes, please provide information below regarding each investor and/or
beneficial owner that holds/controls 25% or more if the transactional assets:
#
Full Name
Date of Birth
Full Address
Nationality
Ownership %
 

 
 
 
 
 

 
 
 
 
 

 
 
 
 
 

 
 
 
 

Please provide documents of identification for the entity listed above when
returning this form.

On behalf of the counterparty, the authorized signatory confirms that the above
information is complete and accurate.
Subject to any legal restrictions, we further confirm that in the event of an
enquiry from law enforcement agencies or regulators, copies of the relevant
investor or beneficial owner details will be made available to Deutsche Bank, or
the regulatory body making the inquiry.
Signed: ______________________________________________________________________
Date: ___/___/_____
Name:
____________________________________________________________________________________________
Position:
__________________________________________________________________________________________
Contact Details:
____________________________________________________________________________________

--------------------------------------------------------------------------------

This section is for DB internal use only.
Add applicable comments or notes:
___________________________________________________________________________________________________
___________________________________________________________________________________________________
DB Employee Name: ________________________________ Phone Number:
__________________________________

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