Form of Indemnification Agreement



 EXHIBIT 10.6 
 FORM OF 
 INDEMNIFICATION AGREEMENT 
 THIS INDEMNIFICATION AGREEMENT (“Agreement”) is made and entered into as of the      day of
                    , 2008 by and among Income Property Trust of the Americas Inc., a Maryland corporation (the “Company”) and
                                    , a director and/or
officer of the Company (the “Indemnitee”). 
 RECITALS 
 WHEREAS, the interpretation of statutes, regulations and charter and Bylaw provisions regarding indemnification of directors and officers may be too
uncertain to provide such directors and officers with adequate notice of the legal, financial and other risks to which they may be exposed by virtue of their service as such; and 
 WHEREAS, damages sought against directors and officers in shareholder or similar litigation may be substantial, and the costs of defending such actions
and of judgments in favor of plaintiffs or of settlement therewith may be prohibitive for individual directors and officers, without regard to the merits of a particular action and without regard to the culpability of, or the receipt of improper
personal benefit by, any named director or officer; and 
 WHEREAS, the long period of time which may elapse before final disposition of such
litigation may impose undue hardship and burden on a director or officer or his estate in maintaining a proper and adequate defense of himself or his estate against claims for damages; and 
 WHEREAS, the Company is organized under the Maryland General Corporation Law (the “MGCL”), and Section 2-418 of the MGCL empowers
corporations to indemnify and advance expenses of litigation to a person serving as a director, officer, employee or agent of a corporation and to persons serving at the request of the corporation, while a director of a corporation, as a director,
officer, partner, trustee, employee or agent of another foreign or domestic corporation, partnership, joint venture, trust, other enterprise or employee benefit plan, and further provides that the indemnification and advancement of expenses set
forth in the MGCL are not “exclusive of any other rights, by indemnification or otherwise, to which a director may be entitled under the charter, the bylaws, a resolution of stockholders or directors, an agreement or otherwise, both as to
action in an official capacity and as to action in another capacity while holding such office”; and 
 WHEREAS, the charter of the
Company, as it may be amended or amended and restated from time to time (the “Charter”), provides that the Company shall indemnify and hold harmless directors, advisors, or affiliates, as such terms are defined in the Charter; and

 WHEREAS, the Board of Directors of the Company (the “Board”) has concluded that it is advisable and in the best interests of the
Company to enter into an agreement to indemnify in a reasonable and adequate manner the Indemnitee and to assume for itself maximum liability for expenses and damages in connection with claims lodged against him for his decisions and actions as a
director and/or officer of the Company; 







 NOW, THEREFORE, in consideration of the foregoing, and of other good and valuable consideration, the
receipt and sufficiency of which is acknowledged by each of the parties hereto, the parties agree as follows: 
 ARTICLE I 

DEFINITIONS 
 For purposes of this
Agreement, the following terms shall have the meanings set forth below: 
 Section 1.1. “Change in Control” shall mean a change in
the ownership of or power to direct the Voting Securities of the Company or the acquisition by a person not affiliated with the Company of the ability to direct the management of the Company. 
 Section 1.2. “Corporate Status” shall mean the status of a person who is or was a director or officer of the Company, or a member of any
committee of the Board, and the status of a person who, while a director or officer of the Company, is or was serving at the request of the Company as a director, officer, partner (including service as a general partner of any limited partnership),
trustee, employee, or agent of another foreign or domestic corporation, partnership, joint venture, trust, other incorporated or unincorporated entity or enterprise or employee benefit plan. 
 Section 1.3. “Disinterested Director” shall mean a director of the Company who neither is nor was a party to the Proceeding in respect of which
indemnification is being sought by the Indemnitee. 
 Section 1.4. “Expenses” shall mean without limitation expenses of Proceedings
including all attorneys’ fees, retainers, court costs, transcript costs, fees of experts, investigation fees and expenses, accounting and witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage,
delivery service fees and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating or being or preparing to be a witness in a Proceeding.

 Section 1.5. “Good Faith Act or Omission” shall mean an act or omission of the Indemnitee reasonably believed by the Indemnitee
to be in or not opposed to the best interests of the Company and other than (i) one involving negligence or misconduct, or, if the Indemnitee is an independent director, one involving gross negligence or willful misconduct; (ii) one that
was material to the loss or liability and that was committed in bad faith or that was the result of active and deliberate dishonesty; (iii) one from which the Indemnitee actually received an improper personal benefit in money, property or
services; or (iv) in the case of a criminal Proceeding, one as to which the Indemnitee had cause to believe his conduct was unlawful. 
 Section 1.6. “Liabilities” shall mean liabilities of any type whatsoever, including, without limitation, any judgments, fines, excise taxes and penalties under the Employee Retirement Income Security Act of 1974, as amended,
penalties and amounts paid in settlement 

  

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(including all interest, assessments and other charges paid or payable in connection with or in respect of such judgments, fines, penalties or amounts paid
in settlement) in connection with the investigation, defense, settlement or appeal of any Proceeding or any claim, issue or matter therein. 
 Section 1.7. “Proceeding” shall mean any threatened, pending or completed action, suit, arbitration, alternate dispute resolution mechanism, investigation, administrative hearing or any other actual, threatened or completed
proceeding whether civil, criminal, administrative or investigative, or any appeal therefrom. 
 Section 1.8. “Voting Securities”
shall mean any securities of the Company that are entitled to vote generally in the election of directors. 
 ARTICLE II 
 TERMINATION OF AGREEMENT 
 This
Agreement shall continue until, and terminate upon the later to occur of (i) the death of the Indemnitee; or (ii) the final termination of all Proceedings (including possible Proceedings) in respect of which the Indemnitee is granted
rights of indemnification or advancement of Expenses hereunder and of any proceeding commenced by the Indemnitee regarding the interpretation or enforcement of this Agreement. 
 ARTICLE III 
 SERVICE BY INDEMNITEE, NOTICE OF PROCEEDINGS 
 AND DEFENSE OF CLAIMS 
 Section 3.1.
Notice of Proceedings. The Indemnitee agrees to notify the Company promptly in writing upon being served with any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may
be subject to indemnification or advancement of Expenses covered hereunder, but the Indemnitee’s failure to so notify the Company shall not relieve the Company from any liability which it may have to the Indemnitee under this Agreement unless
the Company’s ability to defend in such proceeding or to obtain proceeds under any insurance policy is materially and adversely prejudiced thereby, and then only to the extent the Company is thereby actually prejudiced. 
 Section 3.2. Defense of Claims. The Company will be entitled to participate, at its own expense, in any Proceeding of which it has notice. The
Company jointly with any other indemnifying party similarly notified of any Proceeding will be entitled to assume the defense of the Indemnitee therein, with counsel reasonably satisfactory to the Indemnitee; provided, however, that the Company
shall not be entitled to assume the defense of the Indemnitee in any Proceeding if there has been a Change in Control or if the Indemnitee has reasonably concluded that there may be a conflict of interest between the Company and the Indemnitee with
respect to such Proceeding. The Company will not be liable to the Indemnitee under this Agreement for any Expenses incurred by the Indemnitee in connection with the defense of any Proceeding, other than reasonable costs of investigation or as
otherwise provided below, after notice from the Company to the Indemnitee of its election to assume the defense of the Indemnitee therein. The Indemnitee shall have the right to employ his own counsel in any such Proceeding, but the fees 

  

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and expenses of such counsel incurred after notice from the Company of its assumption of the defense thereof shall be at the expense of the Indemnitee unless
(i) the employment of counsel by the Indemnitee has been authorized by the Company; (ii) the Indemnitee shall have reasonably concluded that counsel employed by the Company may not adequately represent the Indemnitee and shall have so
informed the Company; or (iii) the Company shall not in fact have employed counsel to assume the defense of the Indemnitee in such Proceeding or the counsel employed by the Company shall not, in fact, have assumed such defense or such counsel
shall not be acting, in connection therewith, with reasonable diligence; and in each such case the fees and expenses of the Indemnitee’s counsel shall be advanced by the Company in accordance with this Agreement. 
 Section 3.3. Settlement of Claims. The Company shall not settle any Proceeding in any manner which would impose any liability, penalty or
limitation on the Indemnitee without the written consent of the Indemnitee; provided, however, that the Indemnitee will not unreasonably withhold or delay consent to any proposed settlement. The Company shall not be liable to indemnify the
Indemnitee under this Agreement or otherwise for any amounts paid in settlement of any Proceeding effected by the Indemnitee without the Company’s written consent, which consent shall not be unreasonably withheld or delayed. 
 ARTICLE IV 
 INDEMNIFICATION 

 Section 4.1. General. Upon the terms and subject to the conditions set forth in this Agreement, the Company shall hold harmless and
indemnify the Indemnitee against any and all Liabilities actually incurred by or for him in connection with any Proceeding (whether the Indemnitee is or becomes a party, a witness or otherwise is a participant in any role) to the fullest extent
required or permitted by the Charter and by applicable law in effect on the date hereof and to such greater extent as applicable law may hereafter from time to time permit. For all matters for which the Indemnitee is entitled to indemnification
under this Article IV, the Indemnitee shall be entitled to advancement of Expenses in accordance with Article V hereof. 
 Section 4.2.
Proceeding Other Than a Proceeding By or In the Right of the Company. If the Indemnitee was or is a party or is threatened to be made a party to any Proceeding (whether the Indemnitee is or becomes a party, a witness or otherwise is a
participant in any role) (other than a Proceeding by or in the right of the Company) by reason of his Corporate Status, or by reason of alleged action or inaction by him in any such capacity, the Company shall, subject to the limitations set forth
in Section 4.3 below, hold harmless and indemnify him against any and all Expenses and Liabilities actually and reasonably incurred by or for the Indemnitee in connection with the Proceeding if the act(s) or omission(s) of the Indemnitee giving
rise thereto were Good Faith Act(s) or Omission(s). 
 Section 4.3. Proceedings by or in the Right of the Company. If the Indemnitee,
by reason of his Corporate Status, or by reason of alleged action or inaction by him in such capacity, was or is a party or is threatened to be made a party to any Proceeding (whether the Indemnitee is or becomes a party, a witness or otherwise is a
participant in any role) by or in the right of the Company, then the Company shall, subject to the limitations set forth in Section 4.6 below, hold harmless and indemnify him against any and all Expenses actually incurred by or for him in
connection with the investigation, defense, settlement or appeal of such Proceeding if the act(s) 

  

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or omission(s) of the Indemnitee giving rise to the Proceeding were Good Faith Act(s) or Omission(s); except that no indemnification under this
Section 4.3 shall be made in respect of any claim, issue or matter as to which the Indemnitee shall have been finally adjudged to be liable to the Company, unless a court of appropriate jurisdiction (including, but not limited to, the court in
which such Proceeding was brought) shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, regardless of whether the Indemnitee’s act(s) or omission(s) were found to be a
Good Faith Act(s) or Omission(s), the Indemnitee is fairly and reasonably entitled to indemnification for such Expenses which such court shall deem proper. 
 Section 4.4. Indemnification of a Party Who is Wholly or Partly Successful. Notwithstanding any other provision of this Agreement, to the extent that the Indemnitee is, by reason of the Indemnitee’s
Corporate Status, a party to and is successful, on the merits or otherwise, in any Proceeding, the Indemnitee shall be indemnified by the Company to the maximum extent consistent with applicable law, against all Expenses and Liabilities actually
incurred by or for him in connection therewith. If the Indemnitee is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the
Company shall hold harmless and indemnify the Indemnitee to the maximum extent consistent with applicable law, against all Expenses and Liabilities actually and reasonably incurred by or for him in connection with each successfully resolved claim,
issue or matter in such Proceeding. Resolution of a claim, issue or matter by dismissal, with or without prejudice, except as provided in Section 4.5 hereof, shall be deemed a successful result as to such claim, issue or matter, so long as
there has been no finding (either adjudicated or pursuant to Article VI hereof) that the act(s) or omission(s) of the Indemnitee giving rise thereto were not a Good Faith Act(s) or Omission(s). 
 Section 4.5. Indemnification for Expenses as Witness. Notwithstanding any other provision of this Agreement, to the extent that the Indemnitee, by
reason of the Indemnitee’s Corporate Status, has prepared to serve or has served as a witness in any Proceeding, or has participated in discovery proceedings or other trial preparation, the Indemnitee shall be held harmless and indemnified
against all Expenses actually and reasonably incurred by or for him in connection therewith. 
 Section 4.6. Specific Limitations on
Indemnification. In addition to the other limitations set forth in this Article IV, and notwithstanding anything in this Agreement to the contrary, the Company shall not be obligated under this Agreement to make any payment to the Indemnitee for
indemnification with respect to any Proceeding: 
 (a) To the extent that payment is actually made to the Indemnitee under any insurance
policy or is made on behalf of the Indemnitee by or on behalf of the Company otherwise than pursuant to this Agreement. 
 (b) If a court in
such Proceeding has entered a judgment or other adjudication which is final and has become non-appealable and establishes that a claim of the Indemnitee for such indemnification arose from: (i) acts or omissions of the Indemnitee that are not
Good Faith Acts or Omissions or which are the result of active and deliberate dishonesty; (ii) acts or omissions of the Indemnitee which the Indemnitee had reasonable cause to believe were unlawful; or (iii) a transaction in which the
Indemnitee actually received an improper personal benefit in money, property or services. 
  

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 (c) If there has been no Change in Control, for Liabilities in connection with Proceedings settled
without the consent of the Company which consent, however, shall not be unreasonably withheld. 
 (d) For any loss or liability unless all of
the following conditions are met: (i) the Indemnitee has determined, in good faith, that the course of conduct that caused the loss or liability was in the best interests of the Company, (ii) the Indemnitee was acting on behalf of or
performing services for the Company, (iii) such loss or liability was not the result of negligence or misconduct, or, if the Indemnitee is an independent director, gross negligence or willful misconduct, and (iv) such indemnification is
recoverable only out of the Company’s net assets and not from the Company’s stockholders. 
 (e) For any loss or liability arising
from an alleged violation of federal or state securities laws unless one or more of the following conditions are met: (i) there has been a successful adjudication on the merits of each count involving alleged securities law violations as to the
Indemnitee, (ii) such claims have been dismissed with prejudice on the merits by a court of competent jurisdiction as to the Indemnitee; or (iii) a court of competent jurisdiction approves a settlement of the claims against the Indemnitee
and finds that indemnification of the settlement and the related costs should be made, and the court considering the request for indemnification has been advised of the position of the Securities and Exchange Commission and of the published position
of any state securities regulatory authority in which securities of the Company were offered or sold as to indemnification for violations of securities laws. 
 ARTICLE V 
 ADVANCEMENT OF EXPENSES 
 Notwithstanding any provision to the contrary in Article VI hereof, the Company shall advance to the Indemnitee all Expenses which, by reason of the
Indemnitee’s Corporate Status, were incurred by or for him in connection with any Proceeding for which the Indemnitee is entitled to indemnification pursuant to Article IV hereof, in advance of the final disposition of such Proceeding, provided
that all of the following are satisfied: (i) the Indemnitee was made a party to the proceeding by reason of his service as a director or officer of the Company, (ii) the Indemnitee provides the Company with written affirmation of his good
faith belief that he has met the standard of conduct necessary for indemnification by the Company pursuant to Article IV hereof, (iii) the Indemnitee provides the Company with a written agreement (the “Undertaking”) to repay the
amount paid or reimbursed by the Company, together with the applicable legal rate of interest thereon, if it is ultimately determined that the Indemnitee did not comply with the requisite standard of conduct, and (iv) the legal proceeding was
initiated by a third party who is not a stockholder of the Company or, if by a stockholder of the Company acting in his or her capacity as such, a court of competent jurisdiction approves such advancement. The Indemnitee shall be required to execute
and submit the Undertaking to repay Expenses advanced in the form of Exhibit A attached hereto or in such form as may be required under applicable law as in effect at the time of execution thereof. The Undertaking shall reasonably evidence the
Expenses incurred by or for the Indemnitee and shall contain the written 

  

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affirmation by the Indemnitee, described above, of his good faith belief that the standard of conduct necessary for indemnification has been met. The Company
shall advance such expenses within five (5) business days after the receipt by the Company of the Undertaking. The Indemnitee hereby agrees to repay any Expenses advanced hereunder if it shall ultimately be determined that the Indemnitee is not
entitled to be indemnified against such Expenses. Any advances and the undertaking to repay pursuant to this Article V shall be unsecured. 
 ARTICLE VI 
 PROCEDURE FOR PAYMENT OF LIABILITIES; DETERMINATION 
 OF RIGHT TO INDEMNIFICATION 
 Section
6.1. Procedure for Payment. To obtain indemnification for Liabilities under this Agreement, the Indemnitee shall submit to the Company a written request for payment, including with such request such documentation as is reasonably available to
the Indemnitee and reasonably necessary to determine whether, and to what extent, the Indemnitee is entitled to indemnification and payment hereunder. The Secretary of the Company, or such other person as shall be designated by the Board of
Directors, promptly upon receipt of a request for indemnification shall advise the Board of Directors, in writing, of such request. Any indemnification payment due hereunder shall be paid by the Company no later than five (5) business days
following the determination, pursuant to this Article VI, that such indemnification payment is proper hereunder. 
 Section 6.2. No
Determination Necessary when the Indemnitee was Successful. To the extent the Indemnitee has been successful, on the merits or otherwise, in defense of any Proceeding referred to in Sections 4.2 or 4.3 above or in the defense of any claim, issue
or matter described therein, the Company shall indemnify the Indemnitee against Expenses actually and reasonably incurred by or for him in connection with the investigation, defense or appeal of such Proceeding. 
 Section 6.3. Determination of Good Faith Act or Omission. In the event that Section 6.2 is inapplicable, the Company also shall hold harmless
and indemnify the Indemnitee unless the Company shall prove by clear and convincing evidence to a forum listed in Section 6.4 below that the act(s) or omission(s) of the Indemnitee giving rise to the Proceeding were not Good Faith Act(s) or
Omission(s). 
 Section 6.4. Forum for Determination. The Indemnitee shall be entitled to select from among the following the forums,
in which the validity of the Company’s claim under Section 6.3, that the Indemnitee is not entitled to indemnification will be heard: 
 (a) A quorum of the Board consisting of Disinterested Directors; 
 (b) Legal counsel selected by the Indemnitee, subject to the
approval of the Board, which approval shall not be unreasonably delayed or denied, which counsel shall make such determination in a written opinion; or 
 (c) A panel of three arbitrators, one of whom is selected by the Company, another of whom is selected by the Indemnitee and the last of whom is selected jointly by the first two arbitrators so selected. As soon as
practicable, and in no event later than thirty (30)

  

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days after written notice of the Indemnitee’s choice of forum pursuant to this Section 6.4, the Company shall, at its own expense, submit to the
selected forum in such manner as the Indemnitee or the Indemnitee’s counsel may reasonably request, its claim that the Indemnitee is not entitled to indemnification, and the Company shall act in the utmost good faith to assure the Indemnitee a
complete opportunity to defend against such claim. The fees and expenses of the selected forum in connection with making the determination contemplated hereunder shall be paid by the Company. If the Company shall fail to submit the matter to the
selected forum within thirty (30) days after the Indemnitee’s written notice or if the forum so empowered to make the determination shall have failed to make the requested determination within thirty (30) days after the matter has
been submitted to it by the Company, the requisite determination that the Indemnitee has the right to indemnification shall be deemed to have been made. 
 Section 6.5. Right to Appeal. Notwithstanding a determination by any forum listed in Section 6.4 above that the Indemnitee is not entitled to indemnification with respect to a specific Proceeding, the
Indemnitee shall have the right to apply to the court in which that Proceeding is or was pending, or to any other court of competent jurisdiction, for the purpose of enforcing the Indemnitee’s right to indemnification pursuant to this
Agreement. Such enforcement action shall consider the Indemnitee’s entitlement to indemnification de novo, and the Indemnitee shall not be prejudiced by reason of a prior determination that the Indemnitee is not entitled to indemnification. The
Company shall be precluded from asserting that the procedures and presumptions of this Agreement are not valid, binding and enforceable. The Company further agrees to stipulate in any such judicial proceeding that the Company is bound by all the
provisions of this Agreement and is precluded from making any assertion to the contrary. 
 Section 6.6. Right to Seek Judicial
Determination. Notwithstanding any other provision of this Agreement to the contrary, at any time after sixty (60) days after a request for indemnification has been made to the Company (or upon earlier receipt of written notice that a
request for indemnification has been rejected) and within one (1) year after the making of such indemnification request, the Indemnitee may petition a court of competent jurisdiction, whether or not the court has jurisdiction over, or is the
forum in which is pending, the Proceeding, to determine whether the Indemnitee is entitled to indemnification hereunder, and such court thereupon shall have the exclusive authority to make such determination, unless and until such court dismisses or
otherwise terminates the Indemnitee’s action without having made such determination. The court, as petitioned, shall make an independent determination of whether the Indemnitee is entitled to indemnification hereunder, without regard to any
prior determination in any other forum as provided hereby. 
 Section 6.7. Expenses under this Agreement. Notwithstanding any other
provision in this Agreement to the contrary, the Company shall indemnify the Indemnitee against all Expenses incurred by the Indemnitee in connection with any hearing or proceeding under this Section VI involving the Indemnitee and against all
Expenses incurred by the Indemnitee in connection with any other action between the Company and the Indemnitee involving the interpretation or enforcement of the rights of the Indemnitee under this Agreement, even if it is finally determined that
the Indemnitee is not entitled to indemnification in whole or in part hereunder. 
  

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 ARTICLE VII 
 PRESUMPTIONS AND EFFECT OF CERTAIN PROCEEDINGS 
 Section 7.1. Burden of Proof. In making a
determination with respect to entitlement to indemnification hereunder, the person, persons, entity or entities making such determination shall presume that the Indemnitee is entitled to indemnification under this Agreement and the Company shall
have the burden of proof to overcome that presumption. 
 Section 7.2. Effect of Other Proceedings. The termination of any Proceeding
or of any claim, issue or matter therein, by judgment, order or settlement shall not create a presumption that the act(s) or omission(s) giving rise to the Proceeding were not Good Faith Act(s) or Omission(s). The termination of any Proceeding by
conviction, or upon a plea of nolo contendere, or its equivalent, or an entry of an order of probation prior to judgment, shall create a rebuttable presumption that the act(s) or omission(s) of the Indemnitee giving rise to the Proceeding were not
Good Faith Act(s) or Omission(s). 
 Section 7.3. Reliance as Safe Harbor. For purposes of any determination of whether any act or
omission of the Indemnitee was a Good Faith Act or Omission, each act of the Indemnitee shall be deemed to be a Good Faith Act or Omission if the Indemnitee’s action is based on the records or books of accounts of the Company, including
financial statements, or on information supplied to the Indemnitee by the officers of the Company in the course of their duties, or on the advice of legal counsel for the Company or on information or records given or reports made to the Company by
an independent certified public accountant or by an appraiser or other expert selected with reasonable care by the Company. The provisions of this Section 7.3 shall not be deemed to be exclusive or to limit in any way the other circumstances in
which the Indemnitee may be deemed to have met the applicable standard of conduct set forth in this Agreement or under applicable law. 
 Section 7.4. Actions of Others. The knowledge and/or actions, or failure to act, of any other director, officer, agent or employee of the Company shall not be imputed to the Indemnitee for purposes of determining the right to
indemnification under this Agreement. 
 ARTICLE VIII 
 INSURANCE 
 In the event that the Company maintains officers’ and directors’ or similar
liability insurance to protect itself and any director or officer of the Company against any expense, liability or loss, such insurance shall cover the Indemnitee to at least the same degree as each other director and/or officer of the Company.

 ARTICLE IX 
 MISCELLANEOUS 
 Section 9.1. Non-Exclusivity. The rights of the Indemnitee hereunder shall not be deemed exclusive of
any other rights to which the Indemnitee may at any time be entitled under any provision of law, the Charter, the Bylaws of the Company, as the same may be in effect from time to time, any agreement, a vote of stockholders of the Company or a
resolution of directors of the Company or otherwise, and to the extent that during the term of this Agreement the rights 

  

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of the then-existing directors and officers of the Company are more favorable to such directors or officers than the rights currently provided to the
Indemnitee under this Agreement, the Indemnitee shall be entitled to the full benefits of such more favorable rights. No amendment, alteration, rescission or replacement of this Agreement or any provision hereof which would in any way limit the
benefits and protections afforded to an Indemnitee hereby shall be effective as to such Indemnitee with respect to any action or inaction by such Indemnitee in the Indemnitee’s Corporate Status prior to such amendment, alteration, rescission or
replacement. 
 Section 9.2. Subrogation. In the event of any payment under this Agreement, the Company shall be subrogated to the
extent of such payment to all of the rights of recovery of the Indemnitee, who shall execute all documents required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company to
bring suit to enforce such rights. 
 Section 9.3. Notices. All notices, requests, demands and other communications hereunder shall be
in writing and shall be deemed to have been duly given (i) if delivered by hand, by courier or by telegram and receipted for by the party to whom said notice or other communication shall have been directed at the time indicated on such receipt;
(ii) if by facsimile at the time shown on the confirmation of such facsimile transmission; or (iii) if by U.S. certified or registered mail, with postage prepaid, on the third business day after the date on which it is so mailed:

 If to the Indemnitee, as shown with the Indemnitee’s signature below. 
 If to the Company, to: 
  

	
	 Income Property Trust of the Americas Inc.

	 518 17th street, 17th Floor

	 Denver, CO 80202

	 Attention: President

	 Facsimile No. [(303) 869-4644]


 or to such other address as may have been furnished to the Indemnitee by the Company or to the Company by the
Indemnitee, as the case may be. 
 Section 9.4. Governing Law. The parties agree that this Agreement shall be governed by, and
construed and enforced in accordance with, the substantive laws of the State of Maryland, without application of the conflict of laws principles thereof. 
 Section 9.5. Binding Effect. Except as otherwise provided in this Agreement, this Agreement shall be binding upon and inure to the benefit of the parties hereto and their heirs, executors, administrators,
successors, legal representatives and permitted assigns. The Company shall require any successor or assignee (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of its respective assets or
business, by written agreement in form and substance reasonably satisfactory to the Indemnitee, to assume and agree to be bound by and to perform this Agreement in the same manner and to the same extent as the Company would be required to perform
absent such succession or assignment. 
  

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 Section 9.6. Waiver. No termination, cancellation, modification, amendment, deletion, addition or
other change in this Agreement, or any provision hereof, or waiver of any right or remedy herein, shall be effective for any purpose unless specifically set forth in a writing signed by the party or parties to be bound thereby. The waiver of any
right or remedy with respect to any occurrence on one occasion shall not be deemed a waiver of such right or remedy with respect to such occurrence on any other occasion. 
 Section 9.7. Entire Agreement. This Agreement, constitutes the entire agreement and understanding among the parties hereto in reference to the subject matter hereof; provided, however, that the parties
acknowledge and agree that the Charter contains provisions on the subject matter hereof and that this Agreement is not intended to, and does not, limit the rights or obligations of the parties hereto pursuant to such Charter. 
 Section 9.8. Titles. The titles to the articles and sections of this Agreement are inserted for convenience of reference only and should not be
deemed a part hereof or affect the construction or interpretation of any provisions hereof. 
 Section 9.9. Invalidity of Provisions.
Every provision of this Agreement is severable, and the invalidity or unenforceability of any term or provision shall not effect the validity or enforceability of the remainder of this Agreement. 
 Section 9.10. Pronouns and Plurals. Whenever the context may require, any pronoun used in this Agreement shall include the corresponding
masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural and vice versa. 
 Section
9.11. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together constitute one agreement binding on all the parties hereto. 
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. 
  

			
	INCOME PROPERTY TRUST OF THE AMERICAS INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	INDEMNITEE
	
	  

	(Name)	 	


  

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 EXHIBIT A 
 FORM OF UNDERTAKING TO REPAY EXPENSES ADVANCED 
 The Board of Directors of Income Property Trust of the Americas Inc.

 Re: Undertaking to Repay Expenses Advanced 
 Ladies and
Gentlemen: 
 This undertaking is being provided pursuant to that certain Indemnification Agreement dated the     
day of                     , 2008, by and among Income Property Trust of the Americas Inc. and the undersigned Indemnitee (the
“Indemnification Agreement”), pursuant to which I am entitled to advancement of expenses in connection with [Description of Proceeding] (the “Proceeding”). 
 Terms used herein and not otherwise defined shall have the meanings specified in the Indemnification Agreement. 
 I am subject to the Proceeding by reason of my Corporate Status or by reason of alleged actions or omissions by me in such capacity. During the period of
time to which the Proceeding relates I was
                                        
[name of office(s) held] of Income Property Trust of the Americas Inc. Pursuant to Article IV of the Indemnification Agreement, the Company is obligated to reimburse me for Expenses that are actually and reasonably incurred by or for me in
connection with the Proceeding, provided that I execute and submit to the Company an Undertaking in which (i) I undertake to repay any Expenses paid by the Company on my behalf, together with the applicable legal rate of interest thereon, if it
shall be ultimately determined that I am not entitled to be indemnified thereby against such Expenses; (ii) I affirm my good faith belief that I have met the standard of conduct necessary for indemnification; and (iii) I reasonably
evidence the Expenses incurred by or for me. 
 [Description of expenses incurred by or for Indemnitee] 
 This letter shall constitute my undertaking to repay to the Company any Expenses paid by it on my behalf, together with the applicable legal rate of
interest thereon, in connection with the Proceeding if it is ultimately determined that I am not entitled to be indemnified with respect to such Expenses as set forth above. I hereby affirm my good faith belief that I have met the standard of
conduct necessary for indemnification and that I am entitled to such indemnification. 
  

	
	  

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