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EXHIBIT 10.2

REAL ESTATE INVESTMENT ADVISORY AGREEMENT

Kennedy Associates Real Estate Counsel, Inc. currently has a contractual
service agreement with Riggs Bank, N.A. which is in effect and expires June 30,
2006 (the Prior Agreement).

This Real Estate Investment Advisory Agreement (Agreement) by and
between Kennedy Associates Real Estate Counsel, Inc. (Kennedy) and Riggs Bank
N.A. (Riggs) is effective July 15, 2002. This Agreement supersedes and
replaces the Prior Agreement. The Prior Agreement shall govern the
compensation and indemnification of Kennedy for periods prior to July 15, 2002.

WITNESSETH:

WHEREAS, Riggs is the trustee of the Riggs Bank N.A. Multi-Employer
Property Trust (Trust) established and administered under the Amended and
Restated Declaration of Trust dated October 6, 1996 (Trust Agreement);

WHEREAS, the Trust is a common trust fund for the collective investment in
real estate-related investments (Real Estate Investments) of assets of
retirement, pension or similar plans (Participating Plans); and

WHEREAS, Riggs has determined that it is in the best interest of the Trust
to engage Kennedy to provide the services set forth in this Agreement with
respect to the acquisition, management and disposition by the Trust of
interests in real property.





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NOW THEREFORE, the parties hereto hereby agree as follows:

|   |  |                                                                                                                                        
|-- |  | ---------------------------------------------------------------------------------------------------------------------------------------
|1. |  | Appointment: Riggs hereby appoints Kennedy as an investment advisor to
Riggs with respect to the Trust and the Real Estate Investments.
|2. |  | Services:                                                                                                                              

|    |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|--- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(a) |  | Kennedy shall advise Riggs with respect to real estate and
real estate-related investments now in the Trust and which Riggs may
wish in the future to make on behalf of the Trust.                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|(b) |  | Riggs and Kennedy shall prepare, on an annual basis, a
business plan addressing Kennedys goals and objectives with respect
to the Trust for the coming year. The plan shall be prepared and
submitted to Riggs no later than the 15th of November of the
preceding year. In addition, Kennedy shall prepare and submit to
Riggs valuation, financial and such other information as is set
forth in Appendix III, as amended from time to time by mutual
agreement of the parties.                                                                                                                                                                               
|(c) |  | Kennedy shall, from time to time, present to Riggs for its
consideration Real Estate Investments which, based upon Kennedys
preliminary investigation, are determined by Kennedy in good faith
to meet the requirements of and to present an appropriate investment
opportunity for the Trust. In reviewing potential properties,
Kennedy shall consider whether (i) the potential investment would
generate any unrelated business taxable income (UBTI) that would
either cause any title holding corporation(s) to lose its/their
federal or state tax exempt status or would have to be recognized or
realized by the Trust itself (as sole shareholder of

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|    |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|--- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |  | the title holding corporations(s)), and (ii) whether any other
contemplated activities might adversely affect the tax exempt
status of the title holding corporation(s).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|(d) |  | On receipt of an executed Letter of Intent for a potential
Real Estate Investment, Kennedy shall prepare an Investment Brief
for presentation to the Trust Real Estate Investment Committee (or
comparable committee within the Trust Department of Riggs, which is
established by Riggs) (collective TREIC). The Investment Brief
shall include sufficient information (project description, market
analysis, risk/return considerations, financial analyses,
transaction structure, etc.) for TREICs consideration of the
investment merit. Subject to Riggs approval through TREIC, Kennedy
shall complete all appropriate and necessary due diligence services,
negotiations and transaction documentation to effect the
acquisition.
|(e) |  | On completion of negotiations and documentation, Kennedy
shall present a recommendation to Riggs inclusive of a description
of any material changes to the transaction since submittal of the
Investment Brief. Upon Riggs approval of the recommendation,
Kennedy shall cause the investment transaction to be consummated.                                                                                                                                                                                                                                                                                                                                                                                                                
|(f) |  | Kennedy shall maintain appropriate records of the Real Estate
Investments and of Kennedys activities under this Agreement, which
records shall be open to inspection by Riggs or its authorized
representatives at Kennedys office during normal business hours.
Kennedy shall also prepare such                                                                                                                                                                                                                                                                                                                                                                                                                                           

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|    |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |  | periodic reports of its activities and the Real Estate Investments
as Riggs may reasonably request.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|(g) |  | Kennedy shall recommend to Riggs, subject to Riggs approval,
appraisers, insurance agents and attorneys whose services are
necessary or appropriate to the acquisition, ownership, development,
operation and disposition of one or more of the Real Estate
Investments, and Riggs shall cause the Trust to pay such persons or
entities under the terms of the agreements entered into by Kennedy
with such persons or entities in the name of the Trust. Kennedy
shall select and employ on behalf of the Trust agents, accountants,
mortgage originators or servicers, lenders, technical advisors,
brokers, leasing agents, underwriters, escrow agents, custodians,
agents for collection, insurance agents, architects, engineers,
construction consultants and managers, construction contractors and
others whose services are necessary or appropriate to the
acquisition, ownership, development, operation and disposition of
one or more of the Real Estate Investments. Riggs shall cause the
Trust to pay, as directed by Kennedy, such persons or entities under
the terms of the agreements entered into by Kennedy with such
persons or entities in the name of the Trust.
|(h) |  | With respect to the disposition of Real Estate Investments,
Kennedy shall provide such services and make such recommendations,
as Riggs shall reasonably request.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|(i) |  | Kennedy shall cooperate with and support Riggs in its efforts
to market the Trust to existing and prospective Participating Plans.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          

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|    |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|--- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(j) |  | Kennedy shall provide usual and customary commercial real
estate asset management services in respect of the properties held
by the Trust as Real Estate Investments, including, among other
services, the leasing and re-negotiation of leases on the
properties, the retention of Property Management firms, and such
other usual and customary real estate asset management services as
are normally provided by Kennedy in respect of real estate
portfolios similar to the Trust. Kennedy shall provide such asset
management services in respect of all Real Estate Investments in the
Trust, including both new Real Estate Investments built or acquired
by the Trust and stabilized Real Estate Investments that have been
previously leased out.
|(k) |  | Kennedy shall provide other similar services within its area
of expertise which Riggs may reasonably request from time to time
relating to the Trust, but this shall not include property
management services which, if provided, shall be separately
compensated.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          

|   |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|-- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|3. |  | Furnishing Information to Kennedy: Riggs shall keep Kennedy informed
with regard to the Real Estate Investments owned by the Trust, and the
funds available or expected to be available for investment by the Trust.
In addition, Riggs shall provide Kennedy with a current list of all
Participating Plans in the Trust. Upon request, Riggs will provide
Kennedy any additional information as necessary and appropriate for the
purpose of Kennedy performing their functions.
|4. |  | Policy Board and Informational Material: Riggs shall maintain a Policy
Board for the Trust. The Policy Board shall have up to six members and
such duties and                                                                                                                                                                                                                                                                                                                     

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|   |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|-- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |  | responsibilities as determined by Riggs. For so long as this Agreement
is in effect, two members of the Policy Board may be nominated by
Kennedy. Each of the members of the Board shall be appointed by Riggs
and shall serve until he resigns or is replaced by Riggs. Neither the
appointment nor service by the Policy Board shall diminish Riggs
exclusive control over and authority to manage the Trust. All
informational material distributed by Riggs with respect to the Trust
shall list the members of the Policy Board and identify any members who
are employees of Kennedy to be such. In addition, all such informational
material shall clearly disclose that Kennedy is the investment advisor to
Riggs with respect to the Trust and the Real Estate Investments and that
Riggs is the Trustee.                                                                                                                                                                                                                                                                   
|5. |  | Custody of assets: Kennedy shall not have authority to retain possession
of any assets of the Trust or any instruments (excepting duplicate
originals thereof) evidencing the ownership of investments of the Trust.
All assets of the Trust and all instruments evidencing the ownership of
investments of the Trust and originals of all documents which are
necessary for Riggs to exercise their rights or remedies with respect to
the assets of the Trust, including, but not limited to, all notes,
mortgages, deeds, leases, certificates, title policies, assignments, legal
opinions, bills of sale and indemnities, shall be held by Riggs, which
shall be responsible for all custodial arrangements with respect thereto.
All payments, distributions, and other transactions in cash or securities,
whether with respect to the Trust or the assets thereof (including,
without limitation, any rents or mortgage payments or receipts) shall be
made directly to or from Riggs. Riggs is obligated to maintain the
records required of MEPT. Riggs represents that it is

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|   |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|-- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |  | currently a qualified professional asset manager (QPAM) as that term
is defined in Prohibited Transaction Exemption 84-14 and that it will
notify Kennedy as soon as practicable if it ceases to qualify as a QPAM.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|6. |  | Compliance with Laws, Regulations, Codes, Etcetera: Kennedy shall
perform its duties and responsibilities under this Agreement in accordance
with, and will be limited in the exercise of its rights by, the provisions
of the Employee Retirement Income Security Act of 1974 (ERISA) and all
other applicable federal, state and local laws, ordinances, codes or
regulations applicable to its duties and responsibilities, including
without limitation identifying the appropriate required permits,
certificates, approvals and inspections. If a charge of noncompliance
with respect to any such laws, regulations or ordinances is brought
against Kennedy, it shall promptly notify Riggs of such charge in writing.                                                                                                                                                                     
|7. |  | Confidentiality: Kennedy and Riggs each agree that any information
provided it or its employees by the other party or by persons acting for
or on behalf of the other party concerning such other party or the Trust
and which is not public information shall be treated as proprietary and
confidential by the recipient and its employees. Such information shall
not be divulged to any party except as described in the next sentence or
used for any purpose other than for the management and administration of
the Trust or the performances required by this Agreement. Each party and
its employees may, in good faith, divulge factual information of the type
described in this paragraph to regulatory authorities and the
Participating Plans.. Kennedy shall keep Riggs informed on a current
basis, of information being communicated and divulged to any Participating
Plan, without

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|   |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|-- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |  | regard to whether such information is proprietary and confidential as
described in this subsection. The provisions of this subsection
regarding confidentiality shall survive the termination or expiration of
this Agreement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
|8. |  | Solicitation of Riggs Removal as Trustee: During the term of this
Agreement, Kennedy shall not (a) request, encourage or solicit any
Participating Plan to vote for or support the removal of Riggs as the
Trustee of the Trust, or the replacement of Riggs by another trustee, or
(b) request, encourage or solicit any Participating Plan to withdraw from
the Trust; unless Kennedy in good faith reasonably believes that
applicable law or fiduciary obligations requires it to do so; provided,
however, that, other than a solicitation as described in items (a) or (b)
above, nothing herein shall preclude Kennedy from communicating any
information or concerns to Participating Plans or potential Participating
Plans relating to the Trust that Kennedy reasonably and in good faith
believes is required or appropriate to be disclosed to Participating Plans
or potential Participating Plans by applicable law, the terms of the
Declaration, or that is material or important information that is required
or appropriate to be disclosed to an investor in the Trust under
principles of good faith and fair dealing with investors, and no such
communications shall be deemed to violate this Section 8.
|9. |  | Compensation: Riggs shall solely be responsible for establishing the
formula for calculating the fees Riggs charges to the Trust Participants
and may change those fees at any time. As of the effective date of this
Agreement, the fees established by Riggs were those shown in Appendix I to
this Agreement. The provisions for compensating Kennedy under this
Agreement are set forth in Appendix II to this                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               

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|    |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|--- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |  | Agreement. If Riggs, in good faith and after consultation with Kennedy,
determines that it should change the formula used for calculating the
fees it charges to the Trust Participants, Kennedys compensation under
this Agreement shall be changed proportionately on a prospective basis
only.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
|10. |  | Expenses of Kennedy: Kennedy shall bear all of its internal costs and
expenses in connection with the performance of its services hereunder,
including, but not limited to: employees salaries; travel; lodging while
in a travel status; office overhead (including long distance telephone
charges); insurance (other than insurance of Real Estate Investments);
taxes levied on Kennedy and its operations and income; and legal,
accounting and other professional fees associated with Kennedy internal
affairs (but not fees of such professionals incurred directly with respect
to a particular Real Estate Investment, whether or not such Real Estate
Investment is in fact acquired by the Trust). The intent of this
paragraph is that Kennedy shall be compensated solely by its fee.
|11. |  | Other Business of Kennedy: Nothing in this Agreement shall be construed
to restrict the right of Kennedy or its affiliates to act and continue to
act as investment managers or advisors for other clients, nor shall this
Agreement be deemed to restrict in any way the freedom of Kennedy or its
affiliates to conduct any other business venture of any nature or to make
investments for its investment account or the investment accounts of any
other person or entity.                                                                                                                                                                                                                                                                                                                      
|12. |  | Liability and Indemnification: Kennedy, its officers and its employees
will not be liable to Riggs (whether on a tort, breach of contract or
other theory) for investment advice or acts or omissions under or pursuant
to this Agreement or for                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    

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| |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
| |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| |  | the acts or omissions of Riggs in the management of the Trust, and Riggs
shall indemnify and save harmless Kennedy, its officers and employees
from and against any and all claims asserted against them arising from
any such investment advice, acts or omissions, including all attorneys
fees and other expenses reasonably incurred in the defense of any such
claim unless (a) such act or omission for which exculpation or
indemnification is sought constituted a breach of this Agreement, bad
faith, willful misfeasance, negligence or reckless disregard by Kennedy
of its duties in the performance of services under this Agreement, or (b)
with respect to any such act or omission for which exculpation or
indemnification was sought, Kennedy is a fiduciary to the Trust or a
Participating Plan under ERISA and such act or omission was a violation
of the duties imposed upon Kennedy as a fiduciary under ERISA (except to
the extent that liability arises derivatively from the acts or omissions
of Riggs) or a violation of any other federal or state law applicable to
Kennedy. Kennedy shall indemnify and save harmless Riggs from and
against any and all claims, including all attorneys fees and other
expenses reasonably incurred in the defense of any claim, asserted
against Riggs by reason of any act or omission of Kennedy that (a)
constituted a breach of this Agreement, bad faith, willful misfeasance,
negligence or reckless disregard of its duties in the performance of
services under this Agreement; or (b) constituted a violation of the
duties imposed upon Kennedy as a fiduciary under ERISA (except to the
extent that liability arises derivatively from the acts or omissions of
Riggs) or a violation of any other federal or state law applicable to

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|    |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
|--- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |  | Kennedy. The provisions of this paragraph shall survive a termination or
expiration of this Agreement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|13. |  | Assignment: This Agreement shall not be assignable by Riggs or Kennedy
without the written consent of either party, provided that no consent
shall be necessary in the case of a merger, acquisition or reorganization.
Kennedy warrants that, in the event of an acquisition, merger or
reorganization of Kennedy, there will be no material changes to the nature
or quality of the services provided by Kennedy to Riggs and that
continuity and quality of services provided by Kennedy to the Trust will
be preserved either by retaining senior personnel in place as of the
effective date of this Agreement or replacing them with a sufficient
number of individuals with comparable skill and experience in relevant
disciplines. To the extent permitted by law, the assigning party shall
provide notice to the other not less than sixty (60) days in advance of
such assignment, or such shorter period of notice as the parties may agree
upon; except that Riggs shall provide only that notice that it is
permitted to provide under any contractual commitments relating to the
transaction resulting in the assignment.
|14. |  | Acknowledgments, Representations and Warranties of Kennedy: With the
understanding that Riggs intends to rely on these representations, Kennedy
represents and agrees that:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               

|    |  |                                                                                                                                                                                                                                                                                               
|--- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(a) |  | In providing the services described in this Agreement,
Kennedy shall exercise the degree of care consistent with that of
qualified professional investment advisers in relating to the same
or similar kinds of investments and shall conduct itself in a manner
consistent with the fiduciary

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|    |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
|--- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |  | responsibility requirements of ERISA, with respect to an
investment adviser who, under ERISA, is a fiduciary with respect
to the Trust.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|(b) |  | Kennedy is a registered investment adviser under the
Investment Advisers Act of 1940, and will maintain its registered
status under that Act unless firms engaged in providing real estate
investment advice are no longer permitted to be a registered
investment adviser under that Act. Kennedy is in compliance in all
material respects, and will continue to be in compliance in all
material respects during the entire term of this Agreement, with the
applicable provisions of that Act. Kennedy will provide Riggs with
a current and valid copy of Part II of Kennedys Form ADV during the
entire term of this Agreement. Kennedy has also complied with and
will comply with during the entire term of this Agreement, all
applicable regulations, registrations, filings, approvals,
authorizations, consents or examinations required by the United
States Securities and Exchange Commission, the United States
Department of Labor or any other governmental authority having
jurisdiction over its activities or the acts contemplated by this
Agreement.
|(c) |  | The personnel of Kennedy who will be responsible for carrying
out this Agreement are individuals experienced in the making of real
estate investments of the nature contemplated by this Agreement and
are also experienced in the performance of the various functions
contemplated by this Agreement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

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|    |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|--- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(d) |  | Kennedy shall promptly notify Riggs in the event of any
change in control of Kennedy or if Kennedy or any affiliate of
Kennedy is the subject of proceedings properly commenced under any
chapter of the Bankruptcy Act, is the subject of liquidation or
insolvency proceedings properly commenced by a regulatory agency
with jurisdiction to liquidate the business and affairs of a party;
is adjudged insolvent in any proceeding commenced in any court of
competent jurisdiction for the appointment of a receiver, liquidator
or trustee; makes a general assignment for the benefit of creditors;
or admits in writing its inability to pay its debts as they come
due.                                                                                                                                                                                                                                                                                                   
|(e) |  | Kennedy has procured and shall maintain at all times during
the term of this Agreement, if commercially available to investment
advisors, errors and omission/professional liability insurance or
fiduciary insurance which specifically includes coverage for the
Trusts plan assets in the amount of $5,000,000 per occurrence and
$5,000,000 in the aggregate. Kennedy shall furnish to Riggs on an
annual basis certificate(s) of insurance along with a letter setting
forth (i) the amount(s) of coverage, (ii) policy number(s), (iii)
expiration date(s), (iv) retention, and (v) carrier name(s).
Furthermore, Kennedy shall extend a good faith effort in providing
prior written notice to Riggs of any termination or reduction in the
amount or scope of coverage. Kennedy shall notify Riggs immediately
of any claim made under said errors and omission/professional
liability insurance or fiduciary liability insurance and any payment
of proceeds. Maintenance

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|    |  |                                                                                                                                                                
|--- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |  | of such insurance shall not release Kennedy from any obligations
or liabilities under this Agreement.                                                          
|(f) |  | Kennedy should promptly notify Riggs in the event that any of
the foregoing acknowledgments, representations, warranties or
agreements shall no longer be true.

|    |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|--- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|15. |  | Representations of Riggs: With the understanding that Kennedy intends to
rely upon these representations, Riggs represents, warrants and agrees
that: (i) it is the Trustee of the Trust; (ii) Kennedy has been duly
appointed by Riggs to provide investment advice to Riggs in connection
with its duties as Trustee of the Trust; and (iii) Riggs has delivered a
true and correct copy of the Trust Agreement and any amendments thereto as
may be adopted from time to time to Kennedy for convenience of reference,
but the rights, powers and duties of Kennedy shall be governed solely by
the terms of this Agreement without reference to the terms of the Trust
Agreement.
|16. |  | Construction:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        

|    |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(a) |  | This Agreement (including the exhibits, other addenda, if
any, and documents incorporated by reference, if any) constitutes
the entire Agreement between the parties with respect to its subject
matter, and supersedes all prior agreements, proposals, negotiations
and other written or oral communications between the parties with
respect to the subject matter of this Agreement. No waiver of any
breach of this Agreement, and no course of dealing between the
parties, shall be construed as a waiver of any subsequent breach of
this Agreement. Except as expressly

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|    |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
|--- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |  | provided herein, this Agreement may be modified only if such
modifications are in writing and signed by the parties hereto.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|(b) |  | If any one or more of the covenants, agreements, provisions
or terms of this Agreement shall be held contrary to any express
provision of law or contrary to the policy of express law, though
not expressly prohibited, or against public policy, or shall for any
reason whatsoever be held invalid, then such covenants, agreements,
provisions or terms shall be deemed severable from the remaining
covenants, agreements, provisions or terms of this Agreement and
shall in no way affect the validity or enforceability of the other
provisions of this Agreement or the rights of the parties hereto.
Section headings are for convenience of reference only and shall not
affect the interpretation of this Agreement.
|(c) |  | Any reference to a section of ERISA, the Internal Revenue
Code or other laws shall be deemed to include a reference to any
amendment thereof and any successor provisions thereto as well as
any regulations or administrative pronouncements thereunder.                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
|(d) |  | This Agreement shall be administered, construed and enforced
in accordance with the laws of the District of Columbia as if the
Agreement were executed and performed entirely therein (without
giving effects to principles of conflicts of law) to the extent such
laws have not been preempted by ERISA or other applicable Federal
law.                                                                                                                                                                                                                                                                                                                                                                                      
|(e) |  | This Agreement may be executed in any manner of separate
counterparts, each of which shall together be deemed an original,
but the several                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      

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| |  |                                                                                             
| |  | --------------------------------------------------------------------------------------------
| |  | counterparts shall together constitute but one and the same
Agreement of the parties hereto.

|    |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
|--- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|17. |  | Relationship of Parties: The relationship between the parties created by
this Agreement is that of independent contractors, and not partners, joint
venturers or agents. Nothing in this Agreement shall be construed as
obligating the Trust to receive services from Kennedy to pay the fees or
other sums due Kennedy or otherwise render performance due to Kennedy and
Kennedy confirms that it will look solely to Riggs, and not the assets of
the Trust, for the payment of sums due it under this Agreement.
|18. |  | Notice: Any notice, report or other communication required or permitted
to be given hereunder shall be in writing and shall, unless some other
method of giving such notice, report or other communication is accepted by
the party to whom it is given, be given by being mailed by certified mail
to the following parties at the addresses indicated:                                                                                                                                                             

|                                            
|--------------------------------------------
|Riggs Bank, N.A                             
|808  17th Street, 12th Floor               
|Washington, D.C. 20006                      
|Attention: Henry A. Dudley, Jr.             
|The Legal Department  Attn: Joe Cahill     
|Kennedy Associates Real Estate Counsel, Inc.
|2400 Financial Center                       
|1215 4th Avenue                             
|Seattle, Washington 98161                   
|Attention: Jim C. Snyder                    

| |  |                                                                                                                        
| |  | -----------------------------------------------------------------------------------------------------------------------
| |  | Any party may at any time give notice to the other that it wishes to
change
its address for purposes of this paragraph.

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|    |  |             
|--- |  | ------------
|19. |  | Termination:

|    |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|--- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(a) |  | Except as provided in section 19(b), the term of this
Agreement shall commence on July 15, 2002, and shall continue until
June 30, 2012, (the Initial Term) as such may be extended as
provided in this section 19(a). The term of this Agreement shall be
automatically extended on June 30, 2012 and on each two-year
anniversary of June 30, 2012 for two (2) additional years (to June
30 of the year two years after such renewal date). The Initial Term
as so extended is referred to herein as the Extended Term.
|(b) |  | Prior to the expiration of this Agreement or any renewal
term:                                                                                                                                                                                                                                                                                                                                                                                                                                                             

|     |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|---- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(i)  |  | Either party may elect to terminate if the
other is the subject of proceedings properly commenced under
any chapter of the Bankruptcy Act; is the subject of
liquidation or insolvency proceedings properly commenced by a
regulatory agency with jurisdiction to liquidate the business
and affairs of a party; is adjudged insolvent in any
proceeding commenced in any court of a competent jurisdiction
for the appointment of a receiver, liquidator or trustee;
makes a general assignment for the benefit of creditors; or
admits in writing its inability to pay its debts as they come
due.
|(ii) |  | Either party may terminate if the other
materially breaches this Agreement or commits, or has
committed prior to the effective date of this Agreement, an
act or omission in the performances contemplated by this
Agreement (or the Prior Agreement between                                                                                                                                                                                                                                                                                                                                        

17



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##### 



|      |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|----- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|      |  | the parties) constituting bad faith, willful misfeasance,
negligence or reckless disregard of duties or
responsibilities and such breach or act or omission is not
cured within that period of thirty (30) days next following
the date on which written notice specifying such breach or
act or omission is delivered to the breaching party.
Material breaches for purposes of this section 19 shall
include, but not be limited to, material violations by
Kennedy of Section 8 hereof and material failure by Kennedy
to comply with Section 2 hereof.                                                                                     
|(iii) |  | This Agreement shall terminate (A) on
liquidation of MEPT if the Trust is terminated pursuant to
Section 8.3 of the Trust Agreement, or (B) on Riggs removal,
resignation or otherwise ceasing to act as the trustee of the
Trust but this Agreement shall not terminate if (x) Riggs
ceases to be a Trustee because it is acquired and the
acquirer becomes Trustee of the Trust, or (y) a successor
Trustee is appointed which is or will become an affiliate of
Riggs or any successor to Riggs becomes the Trustee of the
Trust by merger, acquisition or reorganization of Riggs or by
sale of Riggs trust business in whole or in part.
|(iv)  |  | Either party may terminate if the Trust is the
subject of any action by any regulatory authority (including
without limitation the Office of Comptroller of Currency, the
Internal Revenue Service and the                                                                                                                                                                                                                                                                                                                                                                                                                                     

18



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##### 



|    |  |                                                                                                                                                                                                                                                                                                      
|--- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |  | Department of Labor) which results in conditions under
which the operation of the Trust is not feasible.                                                                                                                                                                                             
|(v) |  | Riggs may terminate this Agreement without
cause in the event that Participating Plans representing 60%
of the Units of the Trust notify within a 30-day period Riggs
and Kennedy in writing, referencing this Section 19(b)(v),
that they wish to terminate Kennedys services under this
Agreement.

|    |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|--- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(c) |  | A party electing to terminate this Agreement pursuant to
subsection (b) of this paragraph shall exercise such election by
written notice given in the manner described in Section 18.                                                                                                                                                                                                                                                              
|(d) |  | Upon termination or expiration, Kennedy will promptly honor
all instructions received from Riggs. Kennedy shall provide to
Riggs a final overall report and shall deliver to Riggs any and all
original documents pertaining to Real Estate Investments then in its
possession and, as requested by Riggs, copies of other books and
records relating to the Trust and the Real Estate Investments that
are not already in the possession of Riggs.
|(e) |  | Upon termination, fees of Kennedy shall be prorated to the
date of termination.                                                                                                                                                                                                                                                                                                                                                                    

19



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##### 



IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed by their duly authorized representatives as of the day and year first
above written.

|                                |  |                                            
|------------------------------- |  | -------------------------------------------
|Attest: /s/ Patrick O. Mayberry |  | RIGGS BANK N.A.                            
|                               
|Dated: May 24, 2002             |  | BY: /s/ Henry A. Dudley, Jr.               
|                               
|                                |  | ITS: Executive Vice President              
|                               
|Attest: /s/ Kimberly Addy       |  | KENNEDY ASSOCIATES REALESTATE COUNSEL, INC.
|                               
|Dated: 5/24/02                  |  | BY: /s/ Jim C. Snyder                      
|                               
|                                |  | ITS: President