Exhibit
10.30


ENVIRONMENTAL INDEMNITY AGREEMENT


THIS ENVIRONMENTAL
INDEMNITY AGREEMENT (this "Agreement") is executed effective as of December 27, 2012, by IREIT NEWINGTON FAIR,
L.L.C., a Delaware Limited liability company ("Indemnitor"), for the benefit of BANK OF THE OZARKS
("Lender").


RECITALS


The following matters
are true and correct, are a part of this Agreement, and form the basis for this Agreement:


A.               
Lender is making a loan ("Loan") to Indemnitor under and pursuant to the terms and provisions of that certain
Loan Agreement between Lender, as lender, and Indemnitor, as borrower (the "Loan Agreement") of even date herewith
which Loan is further evidenced by that certain Promissory Note (the "Note") executed by Indemnitor and payable
to the order of Lender in the original principal amount of FIFTEEN MILLION ONE HUNDRED THIRTY THOUSAND AND NO/100 DOLLARS ($15,130,000.00),
secured, inter alia, by that certain Open-End Mortgage Deed, Assignment of Rents, Security Agreement and Fixture
Filing (the "Mortgage") covering certain real property ("Land") as more particularly described
on Exhibit A attached hereto and incorporated herein by this reference, together with the Improvements located thereon
and certain Personalty described in the Mortgage (the Land, together with said Improvements, Personalty and other property described
in the Mortgage being referred to herein as the "Mortgaged Property") (the Note, the Mortgage, the Loan Agreement,
this Agreement and all other documents or instruments evidencing, securing or pertaining to the Loan shall be collectively referred
to as the "Loan Documents"); and


B.                
As a material inducement in order for Lender to make the Loan to Indemnitor, Indemnitor has agreed to execute and deliver
this Agreement to and for the benefit of Lender.


NOW, THEREFORE,
for and in consideration of the making of the Loan by Lender to Indemnitor, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged and confessed, Indemnitor hereby agrees as follows:



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AGREEMENT


ARTICLE
I



DEFINITIONS


Section 1.1           
Definitions. As used in this Agreement, the following terms shall have the following meanings:


Assignment:
The Assignment of Rents dated as of the date hereof, executed by Indemnitor for the benefit of Lender. The Loan and the obligations
of Indemnitor or others created by the Loan Documents are secured by, among other things, the Assignment.


Customary Complying
Substances: Hazardous Substances which are (i) customarily used in connection with the occupancy, use, operation or maintenance
of the Mortgaged Property, (ii) in reasonably minimal amounts, taking into account the intended and proper use thereof, and
properly containerized and labeled, and (iii) stored, transported, disposed of and used in a manner that do not violate Environmental
Laws.


Environmental
Laws: Any federal, state or local law, statute, ordinance, order, decree, code, directive or regulation, whether now or hereafter
in effect, pertaining to health, industrial hygiene or the environmental conditions on, under or about the Mortgaged Property,
including, but not limited to, the following, as now or hereafter amended: Comprehensive Environmental Response, Compensation,
and Liability Act of 1980 ("CERCLA"), 42 U.S.C. § 9601 et seq.; Resource, Conservation
and Recovery Act ("RCRA"), 42 U.S.C. § 6901 et seq. as amended by the Superfund Amendments
and Reauthorization Act of 1986 ("SARA"), Pub. L. 99-499, 100 Stat. 1613; the Toxic Substances
Control Act ("TSCA"), 15 U.S.C. § 2601 et seq.; Emergency Planning and Community Right to
Know Act of 1986 ("EPCRA"), 42 U.S.C. § 11001 et seq.; Clean Water Act ("CWA"),
33 U.S.C. § 1251 et seq.; Clean Air Act ("CAA"), 42 U.S.C. § 7401 et seq.;
Federal Water Pollution Control Act ("FWPCA"), 33 U.S.C. § 1251 et seq.; Connecticut
General Statutes Section 22(a) (“CT Transfer Act”); any corresponding state laws or ordinances; and regulations,
rules, guidelines or standards promulgated pursuant to such laws, statutes and regulations, as such statutes, regulations, rules,
guidelines and standards are amended from time to time.


Environmental
Reports: Those certain Phase I Environmental Site Assessments and other environmental reports, whether one or more, with
respect to the Mortgaged Property described on Exhibit B attached hereto and made a part hereof for all purposes.


Event of Default:
Shall have the meaning provided in Article IV hereof.


Governmental
Authority: Any and all applicable courts, boards, agencies, commissions, offices or authorities of any nature whatsoever for
any governmental unit (federal, state, county, district, municipal, city or otherwise) or quasi-governmental unit, whether now
or hereafter in existence, with jurisdiction over all or any portion of the Mortgaged Property or the activities thereon or Indemnitor.



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Hazardous Substances:
Any substance, product, waste or other material which is or becomes listed, regulated or addressed as being a toxic, hazardous,
polluting or similarly harmful substance under any Environmental Law, including (but not limited to): (i) any substance included
within the definition of "hazardous waste" pursuant to Section 1004 of RCRA; (ii) any substance included within
the definition of "hazardous substance" pursuant to Section 101 of CERCLA; (iii) any substance included within
the definition of "regulated substance", "hazardous substance", "waste" or "pollutant"
(or other similar terms, without limitation) pursuant to any applicable state law or ordinance wherein the Mortgaged Property is
located; (iv) asbestos or asbestos containing materials in any form that are or could become friable;
(v) polychlorinated biphenyls; (vi) petroleum products; (vii) underground storage tanks, whether empty, filled or
partially filled with any substance; (viii) any radioactive materials, urea formaldehyde foam insulation or radon; and (ix) any
other chemical, material or substance, the exposure to which is prohibited, limited or regulated by any Governmental Authority
on the basis that such chemical, material or substance is toxic, hazardous or harmful to human health or the environment.


Hazardous Substances
Contamination: The contamination (whether presently existing or hereafter occurring) of the improvements, facilities, soil,
groundwater, surface water, air or other elements on or of the Mortgaged Property by Hazardous Substances, or the contamination
of the buildings, facilities, soil, groundwater, surface water, air or other elements on or of any other property as a result of
Hazardous Substances at any time, including the migration of vapors from contaminated soil or ground water into improvements (whether
before or after the date of the Mortgage); provided, however, the use, storage or existence of any of the Customary
Complying Substances in a manner which does not violate any Environmental Laws shall not constitute a Hazardous Substances Contamination.


Indemnitor's
Knowledge: Shall mean the actual knowledge of the primary officers or principals of Indemnitor and Guarantor (as defined in
the Loan Agreement) after inquiry is made by such individuals with the management personnel or other employees primarily responsible
for the day to day operation of the Mortgaged Property.


Loan Documents:
The Note, the Mortgage, the Loan Agreement, this Agreement, the Assignment and any and all other agreements, documents and instruments
now or hereafter executed by Indemnitor or any other Person in connection with the Loan or the performance and discharge of the
obligations related hereto or thereto, together with any and all renewals, modifications, amendments, restatements, consolidations,
substitutions, replacements, extensions and supplements hereof or thereof.


Person: Any
corporation, limited liability company, limited liability partnership, general partnership, limited partnership, firm, association,
joint venture, trust or any other association or legal entity, including any public or governmental body, quasi-governmental body,
agency or instrumentality, as well as any natural person.


Remedial Work.
Such corrective work and procedures as may be reasonably necessary or desirable in light of any Hazardous Substances Contamination
or a violation by Indemnitor or the Mortgaged Property of any Environmental Laws, all of which Remedial Work shall be undertaken
in a manner consistent with the requirements of all Environmental Laws.


Section 1.2           
All terms not defined in this Agreement shall have the same meanings as given them in the Loan Agreement.


Section 1.3           
Additional Definitions. As used herein, the following terms shall have the following meanings: (i) "hereof,"
"hereby," "hereto," "hereunder," "herewith" and similar terms mean of, by, to, under and
with respect to this Agreement or to the other documents or matters being referenced; (ii) "heretofore" means before,
"hereafter" means after, and "herewith" means concurrently with the date of this Agreement; (iii) all
pronouns, whether in masculine, feminine or neuter form, shall be deemed to refer to the object of such pronoun whether same is
masculine, feminine or neuter in gender, as the context may suggest or require; (iv) "including" means including,
without limitation; and (v) all terms used herein, whether or not defined in Section 1.1 hereof, and whether used
in singular or plural form, shall be deemed to refer to the object of such term whether such is singular or plural in nature, as
the context may suggest or require.


ARTICLE
II



REPRESENTATIONS AND WARRANTIES


Indemnitor unconditionally
represents and warrants to Lender as follows:


Section 2.1           
No Hazardous Substances. Except as disclosed in the Environmental Reports, the Mortgaged Property does not
contain any Hazardous Substances other than Customary Complying Substances, and the Mortgaged Property is not affected by any Hazardous
Substances Contamination.


Section 2.2           
No Violation of Law. Except as disclosed in the Environmental Reports, the Mortgaged Property and the operations
conducted thereon do not violate any applicable law, statute, ordinance, rule, regulation, order or determination of any Governmental
Authority or any Environmental Laws.


Section 2.3           
Permits and Licenses. To Indemnitor's Knowledge, all notices, permits, licenses and similar authorizations, if any,
required to be obtained or filed in connection with the ownership, operation or use of the Mortgaged Property, including the past
or present generation, treatment, storage, disposal or release of any Hazardous Substances into the environment, have been duly
obtained or filed.



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Section 2.4           
No Hazardous Substances. Except as disclosed in the Environmental Reports, neither Indemnitor nor, to Indemnitor's
Knowledge, any other Person, including any predecessor owner, tenant, licensee, occupant, user or operator of all or any portion
of the Mortgaged Property, has ever undertaken, caused, permitted, authorized or suffered the presence, use, manufacture, handling,
generation, transportation, storage, treatment, discharge, release, burial or disposal on, under, from or about the Mortgaged Property
of any Hazardous Substances (other than Customary Complying Substances) or the transportation to or from the Mortgaged Property
of any Hazardous Substances (other than Customary Complying Substances).


Section 2.5           
Adjoining Property. Except as may be disclosed in the Environmental Reports, no property adjoining the Mortgaged
Property is or has ever been used for the disposal, storage, treatment, processing, manufacturing or other handling of Hazardous
Substances in violation of any Environmental Laws, nor, to Indemnitor's Knowledge, is any other property adjoining the Mortgaged
Property affected by Hazardous Substances Contamination.


Section 2.6           
No Right to Lien. Neither Indemnitor nor, to Indemnitor's Knowledge, any other Person, including any predecessor
owner, tenant, licensee, occupant, user or operator of all or any portion of the Mortgaged Property, has ever undertaken, caused,
permitted, authorized or suffered the presence, use, manufacture, handling, generation, transportation, storage, treatment, discharge,
release, burial or disposal of any Hazardous Substances on, under, from or about any other real property, all or any portion of
which is legally or beneficially owned (or any interest or estate therein which is owned) by Indemnitor in any jurisdiction now
or hereafter having in effect a so-called "superlien" law or ordinance or any part thereof, the effect of which law or
ordinance would be to create a lien on the Mortgaged Property to secure any obligation in connection with the "superlien"
law of such other jurisdiction.


Section 2.7           
No Investigations. To Indemnitor's Knowledge, no inquiry, investigation, administrative order, consent order and
agreement, litigation or settlement is proposed, threatened, anticipated or in existence with respect to any allegations that there
has been, there is currently or there is a threat of a presence, release, threat of release or placement of any Hazardous Substances
on, under, from or about the Mortgaged Property, or the manufacture, handling, generation, transportation, storage, treatment,
discharge, burial or disposal of any Hazardous Substances on, under, from or about the Mortgaged Property, or the transportation
of any Hazardous Substances to or from the Mortgaged Property. To Indemnitor's Knowledge no Governmental Authority or private third
party has determined, or threatens to determine, or is investigating any allegations that there has been, there is currently or
there is a threat of a presence, release, threat of release or placement of any Hazardous Substances on, under, from or about the
Mortgaged Property, or the manufacture, handling, generation, transportation, storage, treatment, discharge, burial or disposal
of any Hazardous Substances on, under, from or about the Mortgaged Property, or the transportation of any Hazardous Substances
to or from the Mortgaged Property.



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Section 2.8           
No Release, Etc. Indemnitor has taken all steps reasonably necessary to determine that no Hazardous Substances have
been generated, treated, placed, held, located or otherwise released on, under, from or about the Mortgaged Property other than
Customary Complying Substances used in a manner consistent with Environmental Laws.


Section 2.9           
No New Activity. To Indemnitor's knowledge, no activities or operations have occurred on or about the Mortgaged Property
since the effective date of the applicable Environmental Report which, by virtue of the nature of such activity or operation, would
impose a material possibility or concern that (i) a Hazardous Substances Contamination could have occurred on or about the
Mortgaged Property since the date of the applicable Environmental Report, or (ii) a violation of Environmental Law could have
occurred since the date of the Environmental Report. To Indemnitor's knowledge, the information and factual circumstances described
in the Environmental Report remains true, correct and complete in all material respects as of the date hereof.


Section 2.10       
CT Transfer Act. No part of the Mortgaged Property is or has been an "establishment" under §22a-134
et seq. of the CT Transfer Act.


ARTICLE
III



COVENANTS


Indemnitor unconditionally covenants and agrees with Lender
as follows:


Section 3.1           
No Hazardous Substances. Indemnitor will not use, generate, manufacture, produce, store, release, discharge, treat
or dispose of on, under, from or about the Mortgaged Property or transport to or from the Mortgaged Property any Hazardous Substances
(other than Customary Complying Substances) or knowingly allow any other Person to do so (other than Customary Complying Substances).
Prior to any construction, renovation or any other activities at the Mortgaged Property which might, in Lender's determination,
disturb any suspect asbestos containing material, Indemnitor shall conduct an asbestos survey in form and substance satisfactory
to Lender or, if applicable, as specified in any Environmental Laws. If asbestos containing material is discovered as a result
of such survey, Indemnitor shall comply with all federal, state laws, local ordinances and all regulations concerning the removal
and disposal of such materials, including all worker protection practices and standards.


Section 3.2           
Compliance with Environmental Laws. Indemnitor will keep and maintain the Mortgaged Property in compliance with,
and shall not cause or permit the Mortgaged Property to be in violation of, any Environmental Law. Indemnitor will comply and will
cause compliance with all requirements of Environmental Law, including, without limitation any actions to be taken under, or any
filing, reporting, recommendations, remediation and other requirements under the CT Transfer Act (and, with respect to the CT Transfer
Act, including, without limitation, in connection with any foreclosure of Lender’s interest in the Mortgaged Property and/or
any transfer thereof in lieu of or in connection with a foreclosure).



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Section 3.3           
Notice of Proceedings or Events. Indemnitor will give prompt written notices to Lender of: (i) any proceeding
or inquiry by any governmental or nongovernmental entity or Person with respect to the presence of any Hazardous Substances on,
under, from or about the Mortgaged Property, the migration thereof from or to other property or the disposal, storage or treatment
of any Hazardous Substances generated or used on, under or about the Mortgaged Property; (ii) all claims made or threatened
by any third party against Indemnitor or the Mortgaged Property or any other owner or operator, including a tenant, of the Mortgaged
Property relating to any loss or injury resulting from any Hazardous Substances; (iii) Indemnitor's discovery of any Hazardous
Substances Contamination on the Mortgaged Property or any current or historical circumstances relative to the Mortgaged Property
of an environmental nature which could subject Indemnitor or the Mortgaged Property to liability for damages or remediation pursuant
to any Environmental Laws; (iv) Indemnitor's discovery of any occurrence or condition on any real property adjoining or in
the vicinity of the Mortgaged Property that could cause the Mortgaged Property or any part thereof to be subject to any investigation
or remediation pursuant to any Environmental Laws; and (v) any and actions taken or to be taken pursuant to, and all filings, reporting,
recommendations, remediation and other requirements under, and compliance with, the CT Transfer Act applicable or relating to the
Mortgaged Property, Indemnitor, or any prior owner of the Mortgaged Property.


Section 3.4           
Lender's Rights. Indemnitor will permit Lender to join and participate in, as a party if it so elects, any legal
proceedings or actions initiated with respect to the Mortgaged Property in connection with any Environmental Laws or Hazardous
Substances, and Indemnitor shall pay all reasonable attorneys' fees incurred by Lender in connection therewith.


Section 3.5           
Remedial Work. If any Remedial Work reasonably necessary or desirable, Indemnitor shall commence and thereafter diligently
prosecute to completion all such Remedial Work within thirty (30) days after written demand by Lender for performance thereof
(or such shorter period of time as may be required under any Environmental Laws). Indemnitor's written proposal for any Remedial
Work shall be provided to Lender in advance for Lender's review and approval which proposal shall include (i) the identity
and biographical information with respect to any proposed contractor or engineer to be used with respect to such Remedial Work,
(ii) a description of the measures to be undertaken as a part of such Remedial Work to insure that value is maintained with
respect to the Mortgaged Property and that minimal disruption occurs as a result thereof to existing tenants at the Mortgaged Property
and to the ongoing revenue from the Mortgaged Property, and (iii) such other information as Lender may request. Lender shall
be provided a copy of all Environmental Reports prepared after discovery of the reasonable necessity to perform Remedial Work immediately
upon receipt thereof by Indemnitor, and shall be copied on all correspondence with any Governmental Authority regarding the Hazardous
Substances Contamination and/or the Remedial Work. Indemnitor shall provide Lender with periodic written status reports with respect
to any Remedial Work in form, detail and at a frequency reasonably acceptable to Lender. All costs and expenses of such Remedial
Work shall be paid by Indemnitor, including Lender's reasonable attorneys' fees and costs incurred in



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connection with monitoring or review of such Remedial Work. In the
event Indemnitor shall fail to timely commence, or cause to be commenced, or fail to diligently prosecute to completion, such Remedial
Work, Lender may, but shall not be required to, cause such Remedial Work to be performed, and all reasonable costs and expenses
thereof, or incurred in connection therewith, shall become part of the Indebtedness (as defined in the Mortgage).


 


Section 3.6           
Monitoring System. In the event that Lender acquires knowledge or receives notice that any Hazardous Substance (other
than Customary Complying Substances) or Hazardous Substances Contamination exists in, on or under the Mortgaged Property, or of
any recommendations or requirements under the CT Transfer Act, upon Lender's written request thereof, Indemnitor will establish
and maintain, at Indemnitor's sole expense, a system to assure and monitor continued compliance with Environmental Laws and the
exclusion of Hazardous Substances from the Mortgaged Property, by any and all owners or operators, including tenants, of the Mortgaged
Property, which system shall include annual reviews of such compliance by employees or agents of Indemnitor who are familiar with
the requirements of the Environmental Laws and, at the request of Lender no more than once each year, an Environmental Report which
shall allow reliance thereon by Lender; provided, however, that if any Environmental Report indicates any violation of any Environmental
Laws or a need for further investigative or Remedial Work, (i) such system shall include at the request of Lender for detailed
reviews of the status of such violation and/or the conducting of such further investigations ("Supplemental Reports")
by the environmental consulting firm approved by Lender, and (ii) Lender may require the preparation of all Environmental
Reports as may be determined by Lender to be reasonably necessary. Indemnitor shall furnish an Environmental Report or such Supplemental
Reports to Lender within sixty (60) days after Lender so requests, together with such additional information as Lender may reasonably
request..


ARTICLE
IV



EVENTS OF DEFAULT


The term "Event
of Default", as used herein, shall mean the occurrence at any time and from time to time, of any one or more of the following:


Section 4.1           
Existence of Contamination. If either Indemnitor or Lender receives notice that Hazardous Substances (other than
Customary Complying Substances) or Hazardous Substances Contamination exists in, on or under any of the Mortgaged Property, and
Indemnitor fails, within thirty (30) days after acquisition of such knowledge or of such notice, (i) to notify Lender thereof
in accordance with Section 3.3 and 9.3 of this Agreement; and (ii) to commence and thereafter diligently prosecute
to completion any necessary remedial actions in compliance with Environmental Laws.


Section 4.2           
Breach of Representation. If any representation or warranty contained herein shall be false or misleading, or erroneous
in any material respect.


Section 4.3           
Cross-Default with Loan Agreement. The occurrence of any "Event of Default" as specified in the Loan Agreement.



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ARTICLE
V



REMEDIES


If an Event of Default
shall occur and be continuing, Lender may, at Lender's sole election, exercise any or all of the following:


Section 5.1           
Acceleration. Declare all unpaid amounts under the Note and any other unpaid portion of the Indebtedness immediately
due and payable, without further notice, presentment, protest, demand or action of any nature whatsoever (each of which is hereby
expressly waived by Indemnitor), whereupon the same shall become immediately due and payable.


Section 5.2           
Remedies Under Loan Documents. Exercise any and all other rights, remedies and recourses granted under the Loan Documents
or as may be now or hereafter existing in equity or at law, by virtue of statute or otherwise, including actions for damages and
specific performance.


ARTICLE
VI



SITE ASSESSMENTS


If Lender shall
ever have a reasonable basis to believe that there are Hazardous Substances (other than Customary Complying Substances) or Hazardous
Substances Contamination affecting any of the Mortgaged Property, Lender (by its officers, employees and agents) at any time and
from time to time, either prior to or after the occurrence of an Event of Default, may contract for the services of Persons (the
"Site Reviewers") to perform environmental site assessments ("Site Assessments") on the Mortgaged
Property for the purpose of determining whether there exists on the Mortgaged Property any environmental condition which could
result in any liability, cost or expense to the owner, occupier or operator of such Mortgaged Property arising under any Environmental
Law. The Site Assessments may be performed at any time or times, upon reasonable notice and under reasonable conditions established
by Indemnitor which do not impede the performance of the Site Assessments. The Site Reviewers are hereby authorized to enter upon
the Mortgaged Property for such purposes. The Site Reviewers are further authorized to perform both above and below the ground
testing for environmental damage or the presence of any Hazardous Substances on the Mortgaged Property, and such other tests on
the Mortgaged Property as may be reasonably necessary to conduct the Site Assessments in the reasonable opinion of the Site Reviewers.
Indemnitor will supply to the Site Reviewers such historical and operational information regarding the Mortgaged Property as may
be reasonably requested by the Site Reviewers to facilitate the Site Assessments and will make available for meetings with the
Site Reviewers appropriate personnel having knowledge of such matters. On request, Lender shall make the results of such Site Assessments
fully available to Indemnitor, which (prior to an Event of Default) may at its



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election participate
under reasonable procedures in the direction of such Site Assessments and the description of tasks of the Site Reviewers. The reasonable
cost of performing such Site Assessments shall be paid by Indemnitor upon demand of Lender and any such obligations shall be Indebtedness
secured by the Loan Documents and shall be payable by Indemnitor upon demand.


ARTICLE
VII



INDEMNIFICATION


Section 7.1           
Agreement to Indemnify. REGARDLESS OF WHETHER ANY SITE ASSESSMENTS ARE CONDUCTED HEREUNDER, INDEMNITOR SHALL,
JOINTLY AND SEVERALLY, PROTECT, INDEMNIFY AND HOLD HARMLESS LENDER AND ANY TRUSTEE ACTING ON LENDER'S BEHALF AND THEIR RESPECTIVE
PARENTS, SUBSIDIARIES, DIRECTORS, OFFICERS, EMPLOYEES, REPRESENTATIVES, AGENTS, SUCCESSORS AND ASSIGNS FROM AND AGAINST ANY AND
ALL LOSS, DAMAGE, COSTS, EXPENSE, ACTION, CAUSES OF ACTION OR LIABILITY (INCLUDING REASONABLE ATTORNEYS' FEES AND COSTS) DIRECTLY
OR INDIRECTLY ARISING FROM OR ATTRIBUTABLE TO THE USE, GENERATION, MANUFACTURE, PRODUCTION, STORAGE, RELEASE, THREATENED RELEASE,
DISCHARGE, DISPOSAL OR PRESENCE OF ANY HAZARDOUS SUBSTANCES ON, UNDER, OR FROM THE MORTGAGED PROPERTY, WHETHER EXISTING OR NOT
EXISTING AND WHETHER KNOWN OR UNKNOWN AT THE TIME OF THE EXECUTION HEREOF AND REGARDLESS OF WHETHER OR NOT CAUSED BY, OR WITHIN
THE CONTROL OF INDEMNITOR, INCLUDING ANY ARISING UNDER THE CT TRANSFER ACT (WHETHER PRIOR TO, IN CONNECTION WITH OR FOLLOWING ANY
FORECLOSURE OR TRANSFER IN CONNECTION WITH OR IN LIEU OF A FORECLOSURE), AND INCLUDING (I) DAMAGES FOR PERSONAL INJURY, OR
INJURY TO THE MORTGAGED PROPERTY, NEIGHBORING PROPERTIES OR NATURAL RESOURCES OCCURRING UPON OR OFF THE MORTGAGED PROPERTY, FORESEEABLE
OR UNFORESEEABLE, INCLUDING THE COST OF DEMOLITION AND REBUILDING OF ANY IMPROVEMENTS ON THE MORTGAGED PROPERTY, INTEREST AND PENALTIES;
(II) THE COSTS OF ANY REQUIRED OR NECESSARY ENVIRONMENTAL INVESTIGATION OR MONITORING, ANY REMEDIAL WORK, REPAIR, CLEANUP
OR DETOXIFICATION OF THE MORTGAGED PROPERTY AND ANY NEIGHBORING PROPERTIES, AND THE PREPARATION AND IMPLEMENTATION OF ANY CLOSURE,
REMEDIAL OR OTHER REQUIRED PLANS INCLUDING FEES INCURRED FOR ATTORNEYS, CONSULTANTS, CONTRACTORS, EXPERTS AND LABORATORIES; AND
(III) LIABILITY TO ANY THIRD PERSON OR ANY GOVERNMENTAL AUTHORITY TO INDEMNIFY SUCH PERSON OR GOVERNMENTAL AUTHORITY FOR COST
EXPENDED IN CONNECTION WITH THE ITEMS REFERENCED IN SUBPARAGRAPH (II) IMMEDIATELY ABOVE. THIS COVENANT AND THE INDEMNITY
CONTAINED HEREIN SHALL (1) SURVIVE THE RELEASE OF THE LIEN OF THE MORTGAGE, OR THE 



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EXTINGUISHMENT OF THE LIEN OF THE MORTGAGE BY FORECLOSURE OR
ACTION IN LIEU THEREOF AND/OR THE TRANSFER OF THE MORTGAGED PROPERTY TO LENDER OR A THIRD PARTY IN CONNECTION WITH OR FOLLOWING
A FORECLOSURE AND/OR ANY TRANSFER IN LIEU THEREOF, AND SHALL CONTINUE IN EFFECT SO LONG AS A VALID CLAIM MAY BE LAWFULLY ASSERTED
AGAINST LENDER, AND (2) EXCLUDE ANY DAMAGES ATTRIBUTABLE TO HAZARDOUS SUBSTANCES FIRST INTRODUCED ONTO THE MORTGAGED PROPERTY AFTER
A FORECLOSURE THEREOF BY LENDER PURSUANT TO THE LOAN DOCUMENTS OR OTHERWISE DUE TO LENDER'S OWN GROSS NEGLIGENCE OR WILLFUL MISCONDUCT.


 


Section 7.2           
Indemnification Procedures. If any action shall be brought against Lender based upon any of the matters for which
Lender is indemnified hereunder, Lender shall notify Indemnitor in writing and Indemnitor shall promptly assume the defense thereof,
including, without limitation, the employment of counsel acceptable to Lender and the negotiation of any settlement; provided,
however, that any failure of Lender to notify Indemnitor of such matter shall not impair or reduce the obligations of Indemnitor
thereunder. Lender shall have the right, at the expense of Indemnitor to employ separate counsel in any such action and to participate
in the defense thereof. In the event Indemnitor shall fail to discharge or undertake to defend Lender against any claim, loss or
liability for which Lender is indemnified hereunder, Lender may, at its sole option and election, defend or settle such claim,
loss or liability. The liability of Indemnitor to Lender hereunder shall be conclusively established by such settlement, provided
such settlement is made in good faith, the amount of such liability to include both the settlement consideration and the costs
and expenses, including, without limitation reasonable attorneys' fees and reimbursements, incurred by Lender in effecting such
settlement. Indemnitor shall not, without the prior written consent of Lender: (i) settle or compromise any action, suit,
proceeding or claim or consent to the entry of any judgment that does not include as an unconditional term thereof the delivery
by the claimant or plaintiff to Lender of a full and complete written release of Lender (in form, scope and substance satisfactory
to Lender in its sole discretion) from all liability in respect of such action, suit, proceeding or claim and a dismissal with
prejudice of such action, suit, proceeding or claim; or (ii) settle or compromise any action, suit, proceeding or claim in
any manner that may adversely affect Lender or obligate Lender to pay any sum or perform any obligation as determined by Lender
in its sole discretion. All costs indemnified hereunder shall be immediately reimbursable to Lender when and as incurred and, in
the event of any litigation, claim or other proceeding, without any requirement of waiting for the ultimate outcome of such litigation,
claim or other proceedings, and Indemnitor shall pay to Lender any and all costs within ten (10) days after written notice
from Lender itemizing the amounts thereof incurred to the date of such notice. In addition to any other remedy available for the
failure of Indemnitor to periodically pay such amounts owing hereunder, such amounts, if not paid within said ten (10) day
period, shall bear interest at the Default Interest Rate (as specified in the Loan Documents).



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ARTICLE
VIII



LENDER'S RIGHT TO REMOVE HAZARDOUS MATERIALS


Lender shall have
the right but not the obligation, without in any way limiting Lender's other rights and remedies under the Loan Documents, to enter
onto the Mortgaged Property, perform Remedial Work or to take such other actions as it deems reasonably necessary or advisable
to clean up, remove, resolve or minimize the impact of or otherwise deal with, any Hazardous Substances or Hazardous Substances
Contamination on the Mortgaged Property following receipt of any notice from any Person asserting the existence of any Hazardous
Substances or Hazardous Substances Contamination pertaining to the Mortgaged Property or any part thereof which, if true, could
result in an order, notice, suit, imposition of a lien on the Mortgaged Property or other action and/or which, in Lender's reasonable
opinion, could jeopardize Lender's security under the Loan Documents; provided, however, Lender shall have no right to proceed
with any of the rights granted to it in this paragraph until Lender has provided Indemnitor with written notice of Lender's intent
to take any of the actions described in this paragraph and Indemnitor fails to commence, within thirty (30) days following
Indemnitor's receipt of such notice, all Remedial Work or other action necessary to clean-up, remove or resolve any of the foregoing
and diligently proceeds thereafter to complete the same. All reasonable costs and expenses paid or incurred by Lender in the exercise
of any such rights shall be included in the Indebtedness secured by the Loan Documents and shall be payable by Indemnitor upon
demand.


ARTICLE
IX



MISCELLANEOUS


Section 9.1           
No Exculpation. This Agreement shall not be subject to any exculpation, non-recourse or other limitation of liability
provisions in the Loan Documents, and Indemnitor acknowledges that Indemnitor's obligations under this Agreement are joint, several
and unconditional, and are not limited by any such exculpation, non-recourse or similar limitation of liability provisions, if
any, in the Loan Documents.


Section 9.2           
Reimbursable Costs. Those costs, damages, liabilities, losses, claims, expenses (including reasonable attorneys'
fees and disbursements) for which Lender is indemnified hereunder shall be reimbursable to Lender after being paid by Lender, and
Indemnitor shall pay such costs, expenses, damages, liabilities, losses, claims, expenses (including reasonable attorneys' fees
and disbursements) to Lender within ten (10) days after notice from Lender itemizing the amounts paid to the date of such notice.
In addition to any remedy available for failure to periodically pay such amounts, such amounts shall thereafter bear interest at
the Default Interest Rate specified in the Loan Documents. Payment by Lender shall not be a condition precedent to the obligations
of Indemnitor under this Agreement.


Section 9.3           
Notices. Any notice, communication, request or other documents or demand permitted or required hereunder shall be
in writing and given in accordance with the provisions of the Loan Agreement.



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Section 9.4           
Governing Law. THIS AGREEMENT IS EXECUTED AND DELIVERED AS AN INCIDENT TO A LENDING TRANSACTION NEGOTIATED AND
CONSUMMATED IN DALLAS COUNTY, TEXAS AND SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS APPLICABLE
TO CONTRACTS MADE AND TO BE PERFORMED IN TEXAS; PROVIDED, HOWEVER, THAT EITHER FEDERAL LAW OR, TO THE EXTENT FEDERAL LAW DOES NOT
APPLY, THE LAW OF THE SITUS OF THE MORTGAGED PROPERTY SHALL BE APPLIED TO DETERMINE THE COMPLIANCE OF THE MORTGAGED PROPERTY WITH
ENVIRONMENTAL LAWS. Indemnitor, for itself and its successors and assigns, hereby irrevocably (i) submits to the nonexclusive
jurisdiction of the state and federal courts in Texas (ii) waives, to the fullest extent permitted by law, any objection that
it may now or in the future have to the laying of venue of any litigation arising out of or in connection with any Loan Document
brought in the applicable court of Dallas County, Texas or in the United States District Court with jurisdiction over Dallas
County, Texas; (iii) waives any objection it may now or hereafter have as to the venue of any such action or proceeding
brought in such court or that such court is an inconvenient forum; and (iv) agrees that any legal proceeding against any party
to any Loan Document arising out of or in connection with any of the Loan Documents may be brought in one of the foregoing courts.
Indemnitor agrees that service of process upon it may be made by certified or registered mail, return receipt requested, at its
address specified herein. Nothing herein shall affect the right of Lender to serve process in any other manner permitted by law
or shall limit the right of Lender to bring any action or proceeding against Indemnitor or with respect to any of Indemnitor's
property in courts in other jurisdictions. The scope of each of the foregoing waivers is intended to be all encompassing of any
and all disputes that may be filed in any court and that relate to the subject matter of this transaction, including contract claims,
tort claims, breach of duty claims and all other common law and statutory claims. Indemnitor acknowledges that these waivers are
a material inducement to Lender's agreement to enter into agreements and obligations evidenced by the Loan Documents, that Lender
has already relied on these waivers and will continue to rely on each of these waivers in related future dealings. The waivers
in this section are irrevocable, meaning that they may not be modified either orally or in writing, and these waivers apply to
any future renewals, extensions, amendments, modifications or replacements in respect of the applicable Loan Document. In connection
with any litigation, this Agreement may be filed as a written consent to a trial by the court.


Section 9.5           
Waiver of Acceptance. Indemnitor waives any acceptance of this Agreement by Lender.


Section 9.6           
No Waiver. The failure of any party to enforce any right or remedy hereunder, or to promptly enforce any such right
or remedy, shall not be deemed to be a waiver thereof nor give rise to any estoppel against such party, nor excuse any of the parties
from their obligations hereunder. Any waiver of such right or remedy must be in writing and signed by the party to be bound. This
Agreement is subject to enforcement at law and/or equity, including actions for damages and/or specific performance.


Section 9.7           
Time is of Essence. Time is of the essence in this Agreement with respect to all of the terms, conditions and covenants
herein contained.



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Section 9.8           
Survival. This Agreement shall be deemed to be continuing in nature and shall remain in full force and effect and
shall survive any exercise of any remedy by Lender under the Loan Documents, including foreclosure of the liens of the Loan Documents
(or deed in lieu thereof), even if, as part of such foreclosure or deed in lieu of foreclosure, the Indebtedness is satisfied in
full.


Section 9.9           
NO ORAL AGREEMENTS. THIS ENVIRONMENTAL INDEMNITY AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL, ENTIRE
AGREEMENT AMONG THE PARTIES HERETO AND SUPERSEDE ANY AND ALL PRIOR COMMITMENTS, AGREEMENTS, REPRESENTATIONS AND UNDERSTANDINGS,
WHETHER WRITTEN OR ORAL, RELATING TO THE SUBJECT MATTER HEREOF AND THEREOF AND MAY NOT BE CONTRADICTED OR VARIED BY EVIDENCE OF
PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OR DISCUSSIONS OF THE PARTIES HERETO. THERE ARE NO UNWRITTEN ORAL AGREEMENTS
AMONG THE PARTIES HERETO. The provisions hereof and the other Loan Documents may be amended or waived only by an instrument
in writing signed by Indemnitor and Lender.


Section 9.10       
WAIVER OF RIGHT TO TRIAL BY JURY. INDEMNITOR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY KNOWINGLY,
INTENTIONALLY, IRREVOCABLY, UNCONDITIONALLY AND VOLUNTARILY, WITH AND UPON THE ADVICE OF COMPETENT COUNSEL, WAIVES, RELINQUISHES
AND FOREVER FORGOES THE RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING BASED UPON, ARISING OUT OF OR IN ANY WAY RELATING
TO THIS AGREEMENT OR ANY CONDUCT, ACT OR OMISSION OF LENDER OR INDEMNITOR, OR ANY OF THEIR DIRECTORS, OFFICERS, PARTNERS, MEMBERS,
EMPLOYEES, AGENTS OR ATTORNEYS, OR ANY OTHER PERSONS AFFILIATED WITH LENDER OR INDEMNITOR, IN EACH OF THE FOREGOING CASES, WHETHER
SOUNDING IN CONTRACT, TORT OR OTHERWISE.


Section 9.11       
Joint and Several Liability. If Indemnitor consists of more than one Person, each shall be jointly and severally
liable to perform the obligations of Indemnitor under this Agreement.


Section 9.12       
Counterparts. To facilitate execution, this Agreement may be executed in as many counterparts as may be convenient
or required. It shall not be necessary that the signature and acknowledgment of, or on behalf of, each party, or that the signature
and acknowledgment of all persons required to bind any party, appear on each counterpart. All counterparts shall collectively constitute
a single instrument. It shall not be necessary in making proof of this Agreement to produce or account for more than a single counterpart
containing the respective signatures and acknowledgment of, or on behalf of, each of the parties hereto. Any signature and acknowledgment
page to any counterpart may be detached from such counterpart without impairing the legal effect of the signatures and acknowledgments
thereon and thereafter attached to another counterpart identical thereto except having attached to it additional signature and
acknowledgment pages.[SIGNATURE PAGE FOLLOWS]



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EXECUTED to be effective
as of the date first written above.


	 	
        INDEMNITOR:

        

        IREIT NEWINGTON FAIR, L.L.C., 

        a Delaware limited liability company

         

        By:      Inland Real Estate Income Trust,
        Inc.,

                   a Maryland corporation,

                   its sole member

         

         

                  By:/s/
        Roberta S. Matlin

                  Name: Roberta
        S. Matlin

                  Title:
        Vice President



STATE OF ILLINOIS)

)

COUNTY OF DUPAGE)


This instrument
was ACKNOWLEDGED before me on December 27, 2012 by Roberta S. Matlin, as Vice President of Inland
Real Estate Income Trust, Inc., a Maryland corporation, the sole member of IREIT NEWINGTON FAIR, L.L.C., a Delaware
limited liability company, on behalf of said limited liability company.


[S E A L]/s/ Jeanette M. Ireland

Notary Public, State of Texas

My Commission Expires:

Jeanette M. Ireland

_____11/7/16_________________Printed Name of Notary Public


 


List of Attachments:



Exhibit A – Description of Real Property


Exhibit B – Description of Environmental Reports



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Exhibit A



Description of Real Property


All those certain pieces or parcels of land,
with the buildings and improvements thereon, situated in the Town of Newington, County of Hartford and State of Connecticut, being
shown as "Parcel 2" and "Parcel 3 & 4" on a certain survey entitled "ALTA/ACSM Land Title Survey Prepared
for American National Insurance Co. and Newington-Berlin Retail, LLC 3475 Berlin Turnpike Newington, Connecticut Scale: Horz.:
1= 100' Proj. No.: 041106.A10 Date: 3/15/06", revised through 04/02/07, made by Fuss & O'Neill Inc., Consulting Engineers,
which survey is on file in the Newington Land Records as Drawing Number 3680. Said premises are more particularly bounded and described
as follows:


 


FIRST PIECE ("Parcel 2") - 3465 Berlin
Turnpike:


 


Beginning at a point in the easterly street
line of Masselli Road, being the most southwesterly corner of that certain parcel of land now or formerly owned by Agnes M. and
Mary M. Pane, also being a northerly corner of the herein described Parcel 2;


 


Thence N 81° 02' 29" E, with the common
line between said Pane Parcel and said Parcel 2, a distance of 371.22 feet to a point for corner in the west line of that certain
parcel of land now or formerly owned by McBride Properties, Inc., and being the most northeasterly corner of said Parcel 2;


 


Thence, with the common line between said Parcel
2 and said McBride Properties, Inc. parcel, the following three courses and distances:


 


S 04° 33' 39" E, a distance of 74.76
feet to an angle point;


S 07° 48' 41" E, a distance of 76.32
feet to a point for corner;


N 81° 23' 38" E, a distance of 3.64
feet to a point in the southerly line of said McBride Properties, Inc., parcel being a northwest corner of that certain parcel
of land now or formerly owned by American National Insurance Co.;


 


Thence along the common line between said Parcel
2 and said American National Insurance Co. parcel, the following three courses and distances:


 


S 07° 55' 27" E, a distance of 51.34
feet to an angle point;


S 08° 03' 45" E, a distance of 659.03
feet to a point for corner;


S 80° 59' 19" W, a distance of 50.00
feet to an angle point being a westerly corner of said American National Insurance Co. parcel, also being the northeasterly corner
of that certain parcel of land now or formerly owned by First Brook Properties, LLC;



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Thence with the common line between said Parcel
2 and said First Brook Properties, LLC parcel, the following three courses and distances:


S 80° 58' 47" W, a distance of 354.52
feet to an angle point;


S 79° 24' 15" W, a distance of 251.36
feet to an angle point;


S 80° 41' 32" W, a distance of 115.82
feet to a point for corner in the west line of that certain parcel of land now or formerly owned by the Willows Homeowners Association,
Inc.


 


Thence N 09° 18' 28" W, with the common
line between said Parcel 2 and said Willows Homeowners Association, Inc. parcel, a distance of 534.06 feet to a point for corner,
also being a corner of that certain parcel of land now or formerly owned by Stella Kozakiewicz and Katherine Merlino Trustees;


 


Thence, with the common line between said Parcel
2 and said Stella Kozakiewicz and Katherine Merlino Trustees Parcel, the following three courses and distances:


 


N 79° 47' 56" E, a distance of 150,57
feet to a point for corner;


N 08° 15' 54" W, a distance of 407.23
feet to a point for corner;


N 81° 44' 54" E, a distance of 151.46
feet to a point for corner in the westerly street line of said Masselli Road;


 


Thence along the street line of said Masselli
Road the following three courses and distances:


 


Following a curve to the left having a chord
bearing of S 34° 41' 28" E, a chord distance of 118.96 feet, a radius of 64,99 feet, a delta of 132° 27' 50"
to a point of tangency;


N 79° 04' 59" E, a distance of 61.05
feet to a point for corner;


N 10° 55' 04" W, a distance of 31.91
feet to the point and place of beginning.


 


SECOND PIECE ("Parcel 3 & 4")
- 3563 Berlin Turnpike and 76 Rowley Street:


 


Beginning at a point located in the north street
line of Rowley Street, being the most southeasterly corner of the herein described Parcel 3 and 4, from which a concrete monument
found at the intersection of the north street line of Rowley Street with the west right of way line of the Berlin Turnpike State
Route 5 and 15 bears N 80° 54' 23" E, a distance of 412.76 feet;


 


Thence S 80° 54' 23" W, with the north
street line of Rowley Street, a distance of 357.34 feet to an iron pipe for the most southwesterly corner of the herein described
Parcel 3 and 4;


 


Thence departing said Rowley Street, along
the common line between said Parcel 3 and 4 and that certain parcel of land now or formerly owned by the Willows Homeowners Association,
Inc., the following four courses and distances:



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N 07° 44' 44" W, a distance of 162.84
feet to an angle point;


S 89° 54' 06" W, a distance of 155.88
feet to angle point;


N 87° 28' 22" W, a distance of 153.21
feet to an angle point;


N 09° 18' 28" W, a distance of 418.28
feet to a point being a corner in the southerly line of that certain parcel of land now or formerly owned by RK Newington, LLC;


 


Thence along the common line between said parcel
3 and 4, and said RK Newington, LLC parcel, the following three courses and distances:


 


N 80° 41' 32" E, a distance of 115.82
feet to an angle point;


N 79° 24' 15" E, a distance of 251.36
feet to an angle point


N 80° 58' 47" E, a distance of 354.52
feet to a corner for the most northeasterly corner of said herein described Parcel 3 and 4, also being a corner of that certain
parcel of land now or formerly owned by American National Insurance Co.;


 


Thence along the common line between said Parcel
3 and 4 and that certain parcel of land now or formerly owned by American National Insurance Co., the following six courses and
distances:


 


S 08° 49' 05" E, a distance of 220.24
feet to an angle point;


S 81° 10' 55" W, a distance of 40
feet to a railroad spike;


S 08° 49' 05" E, a distance of 167.00
feet to a railroad spike;


S 03° 17' 26" E, a distance of 124.58
feet to an angle point;


S 08° 49' 05" E, a distance of 110.39
feet to a point of curvature


Following a curve to the right having a chord
bearing of S 10° 10' 08" W, a chord distance of 22.77 feet, a radius of 35.00 feet, a delta of 37° 58' 26", and
an arc length of 23.20 feet to the point and place of beginning.


 


Together with the easements set forth
in an Easements With Covenants And Restrictions Affecting Land ("ECR") by and between Sam's East, Inc. and Newington-Berlin
Retail, LLC dated and recorded on April 19, 2007, in Volume 1932 at Page 669 of the Newington Land Records; as affected by a Supplemental
Easements with Covenants and Restrictions Affecting Land by and between Newington-Berlin Retail, LLC and Newington Gross, LLC dated
January 4, 2008, and recorded in Volume 1958 at Page 583 of the said Land Records.


 



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Exhibit B



Description of Environmental Reports


Phase I Environmental Site Assessment dated June 26, 2012 prepared
by CBRE, Inc.


 


 


 


 


 


 


 


 


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