Exhibit 10.18


CONSENT TO SALE, ASSUMPTIONS AND

SECOND LOAN MODIFICATION AGREEMENT


THIS CONSENT
TO SALE, ASSUMPTIONS AND SECOND LOAN MODIFICATION AGREEMENT (“Agreement”) is made effective as of December
15, 2014 (the “Effective Date”), by and among KRG NEENAH FOX POINT, L.L.C., a Delaware limited
liability company, formerly known as Inland Diversified Neenah Fox Point, L.L.C. (the “Borrower”), KITE REALTY
GROUP, L.P., a Delaware limited partnership (the “Guarantor”), IREIT NEENAH FOX POINT, L.L.C., a
Delaware limited liability company (the “Replacement Borrower”) and INLAND REAL ESTATE INCOME TRUST, INC.,
a Maryland corporation (the “Replacement Guarantor”) (the Borrower, the Guarantor, the Replacement Borrower
and the Replacement Guarantor are hereinafter each individually on a joint and several basis referred to as, a “Loan Party”
and all collectively on a joint and several basis referred to as, the “Loan Parties”) and PNC BANK, NATIONAL
ASSOCIATION, a national banking association and its successors and assigns (collectively, the “Lender”).


R
E C I T A L S:


WHEREAS,
the Lender has extended a loan to the Borrower in the original principal amount of TEN MILLION EIGHT HUNDRED THIRTY-SIX THOUSAND
FIVE HUNDRED THIRTY AND NO/100 ($10,836,530.00) DOLLARS (the “Loan”) pursuant to the terms and conditions of
that certain Loan Agreement dated as of October 21, 2011 executed by and between the Borrower and Lender (as the same may be amended,
modified, replaced and/or restated from time to time, the “Loan Agreement”);


WHEREAS,
the Loan is evidenced by that certain Promissory Note dated as of October 21, 2011 (as the same may be amended, modified, replaced
and/or restated from time to time, the “Note”), executed by the Borrower and made payable to the order of Lender
in the original principal amount of TEN MILLION EIGHT HUNDRED THIRTY-SIX THOUSAND FIVE HUNDRED THIRTY AND NO/100 ($10,836,530.00)
DOLLARS;


WHEREAS,
the Loan is secured, inter alia, by a Mortgage, Security Agreement, Assignment of Leases and Rents and Fixture Filing dated
as of October 21, 2011, executed by the Borrower for the benefit of Lender (as the same may be amended, modified, replaced and/or
restated from time to time, the “Mortgage”) encumbering the Premises (as such term is defined in the Mortgage
and incorporated herein by this reference) consisting of a parcel of real estate improved with an approximate 171,682 square foot
retail shopping center commonly known as Fox Point Plaza located at 828, 846-878 Fox Point Plaza, 928 S. Green Bay Road, and 800-824
Winneconne Avenue, Neenah, Wisconsin and legally described on Exhibit “A” attached to the Mortgage (the “Property”),
which was recorded on October 27, 2011 in the Office of the Register of Deeds for Winnebago County, Wisconsin as Instrument No.
1584595;




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WHEREAS,
the Loan is further secured, inter alia, by that certain Assignment of Rents and Leases dated as of October 21, 2011, executed
by the Borrower to and for the benefit of Lender encumbering the Property which was recorded on October 27, 2011 in the Register
of Deeds for Winnebago County, Wisconsin as Instrument No. 1584596 (as the same may be amended, modified, replaced or restated
from time to time, the “Assignment of Rents and Leases”);


WHEREAS,
the Loan is further secured, inter alia, by a Guaranty of Payment and Recourse Obligations dated as of October 21, 2011,
executed by the Original Guarantor (as hereinafter defined) in favor of Lender, as amended by and as assumed by the Guarantor pursuant
to that certain Consent to Merger, Assumption and First Loan Modification (as hereinafter defined) (collectively, as the same may
be amended, modified, replaced and/or restated from time to time, the “Guaranty”);


WHEREAS,
the Loan is further secured by that certain Environmental Indemnity Agreement dated as of October 21, 2011 jointly and severally
executed by Borrower and the Original Guarantor in favor of Lender in connection with the Property, as amended by and as assumed
by the Guarantor pursuant to the Consent to Merger, Assumption and First Loan Modification (as the same may be amended, modified,
replaced and/or restated from time to time, the “Environmental Indemnity”);


WHEREAS,
the Borrower, INLAND DIVERSIFIED REAL ESTATE TRUST, INC., a Maryland corporation (the “Original Guarantor”),
Guarantor and Lender entered into that Consent to Merger, Assumption and First Loan Modification Agreement made effective as of
July 1, 2014 (the “Consent to Merger, Assumption and First Loan Modification”) wherein Lender consented to permit
the Original Guarantor to merge with and into KRG Magellan, LLC, a Maryland limited liability company (the “Merger Sub”)
pursuant to an Agreement and Plan of Merger dated as of February 9, 2014 (the “Merger Agreement”) executed by
and among the Original Guarantor, Kite Realty Group Trust, a Maryland real estate investment trust (“KRG”) and
the Merger Sub. Under the terms of the Merger Agreement: (x) the Original Guarantor merged with and into the Merger Sub with the
Merger Sub being the surviving entity of such merger (the “Merger”), (y) at the time of the Merger, the Merger
Sub was wholly-owned by KRG; and (z) immediately following the consummation of the Merger and related contemporaneous transactions,
the Merger Sub became a wholly-owned subsidiary of Kite Realty Group, L.P., a Delaware limited partnership (“Kite OP”)
of which KRG is the sole general partner and owns in excess of a ninety-seven percent (97%) interest (collectively, the “Transaction”);




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WHEREAS,
Lender consented to the Merger and the Transaction subject to the amendment of the Loan Agreement, the Guaranty and the other Loan
Documents as provided in the Consent to Merger, Assumption and First Loan Modification, the Guarantor’s assumption of all
of the Original Guarantor’s obligations under the Guaranty and the Environmental Indemnity, as such Loan Documents were amended
by the Consent to Merger, Assumption and First Loan Modification and subject to the terms and conditions of the Consent to Merger,
Assumption and First Loan Modification;


WHEREAS,
the Mortgage was amended by that certain First Mortgage Modification Agreement made effective as of July 1, 2014 executed by Borrower
and Lender which amended the Permitted Transfer language contained in the Mortgage as requested by Borrower, Guarantor, the Merger
Sub and KRG, which was recorded on July 8, 2014 in the Office of the Register of Deeds for Winnebago County, Wisconsin as Instrument
No. 1667203 (the “First Mortgage Modification”);


WHEREAS,
the Loan Parties have now requested Lender’s consent to: (a) allow the sale of the Property to the Replacement Borrower subject
to the Mortgage, the Assignment of Rents and Leases and Lender’s security interests therein (the “Sale”)
in consideration of the Replacement Borrower’s assumption of the Loan and all of the liabilities and obligations of the Borrower
under the Loan Agreement and the Loan Documents as provided in Paragraph 5 of this Agreement; (b) allow the Replacement
Guarantor to assume all of the liabilities and obligations of the Guarantor under the Environmental Indemnity commencing on the
Effective Date and continuing for all times thereafter; (c) allow the Replacement Guarantor to provide the Replacement Guaranty
(as such term is defined in Paragraph 6 hereof) in order to guarantee the Obligations (as such term is defined in the Replacement
Guaranty) commencing on the Effective Date and continuing for all times thereafter; and (d) to amend the Loan and the Loan Documents
as provided in this Agreement including, without limitation, to amend the LIBOR Margin from 2.25% to 1.85% and to extend the Maturity
Date to five (5) years from the closing of the Sale and the assumptions of the Loan and the Guaranty as provided for in this Agreement
(all of the foregoing, collectively, the “Loan Parties’ Request”);


WHEREAS,
Lender is willing to consent to the Loan Parties’ Request subject to the terms and conditions of this Agreement, including,
but not limited to, the Loan Parties’ satisfaction of all of the “Lender’s Conditions Precedent”
(as such term is defined in Paragraph 11 of this Agreement; and




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WHEREAS,
the Loan Parties hereby consent to and accept all of Lender’s Conditions Precedent and the parties now desire to: (a) amend
the Loan Agreement, the Guaranty and the other Loan Documents as provided in this Agreement; (b) provide for the Replacement Borrower’s
assumption of the Loan, the Debt, the Obligations and all of the Borrower’s liabilities and obligations under the Loan Agreement
and the Loan Documents as and to the extent provided in Paragraph 5 of this Agreement; and (c) provide for the Replacement
Guarantor’s execution and delivery of the Replacement Guaranty in order to guarantee the Obligations (as such term is defined
in the Replacement Guaranty) commencing on the Effective Date and continuing for all times thereafter and the assumption of all
of the Guarantor’s liabilities and obligations under the Environmental Indemnity, as amended by this Agreement commencing
on the Effective Date and continuing for all times thereafter as provided in Paragraph 6 of this Agreement, all in the manner
hereinafter set forth.


NOW, THEREFORE,
in consideration of the foregoing recitals and for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged and agreed, the parties hereto agree as follows:


AGREEMENTS:


1.              
Recitals. The foregoing recitals are hereby incorporated into this Agreement as if fully set forth herein.


2.              
Defined Terms. All terms defined in the foregoing Recitals are hereby incorporated into and made a part of Exhibit
A (Definition of Certain Terms) of the Loan Agreement and this Agreement. Except as specifically defined in this Agreement, all
capitalized terms used herein and in the foregoing recitals shall have the meanings ascribed therefor in the Loan Agreement.


3.              
References. All references herein to any of the Loan Documents shall be understood to be to the Loan Documents as
previously amended and as amended hereby and by the new Loan Documents as provided for in Paragraph 11 hereof. All references
in any of the Loan Documents to any other one or more of the Loan Documents shall hereafter be deemed to be such document(s) as
previously amended and as amended hereby and by the new Loan Documents as provided for in Paragraph 11 hereof. All references
in the Loan Documents to the Note shall hereinafter be deemed to be the Note, as amended, restated and replaced by the First Amended
and Restated Note (as hereinafter defined).


4.              
Status of Loan; No Further Advances.


(a)            
Each of the Loan Parties and Lender hereby acknowledges and agrees as follows:




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(i)             
As of December 15, 2014, the outstanding principal balance under the Loan is TEN MILLION EIGHT HUNDRED THIRTY-SIX THOUSAND
FIVE HUNDRED THIRTY AND NO/100 DOLLARS ($10,836,530.00);


(ii)           
As of December 14, 2014, the outstanding accrued and unpaid interest due under the Loan is SIXTEEN THOUSAND SIX HUNDRED
FIFTY AND 63/100 DOLLARS ($16,650.63);and


(iii)         
As of December 15, 2014, there is zero dollars available on a go forward basis on the Loan and the Loan Parties acknowledge
and agree that no further disbursements of the Loan shall be made by Lender except solely for any Protective Advances which Lender
elects to advance under the Loan Documents in its sole discretion; and


(b)           
Each of the Loan Parties hereby acknowledges and agrees as to itself as follows:


(i)             
As of the date hereof, to the actual knowledge of each Loan Party, no Event of Default has occurred and no event has occurred
or condition exists that, with notice and/or the passage of time, would constitute an Event of Default; and


(ii)           
As of the date hereof, no Loan Party has sent any written default notice of default to Lender.


(c)            
Lender hereby acknowledges and agrees as follows:


(i)             
As of the date hereof, to the actual knowledge of Lender without undertaking any independent investigation, no Event of
Default has occurred and no event has occurred or condition exists that, with notice and/or the passage of time, would constitute
an Event of Default (an “Unmatured Default”). The foregoing statement by Lender shall in no event waive any
rights by Lender to declare an Event of Default for any Event of Default or any Unmatured Default which preexists the Effective
Date to the extent unknown by Lender; and


(ii)           
As of the date hereof, Lender has not sent any written notice of an Event of Default or Unmatured Default to the Borrower
or Guarantor.




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5.              
Assumption by Replacement Borrower; Execution and Delivery of First Amended and Restated Promissory Note by Replacement
Borrower; Replacement and Substitution of Replacement Borrower for Borrower and Release of Borrower for Periods Commencing on the
Effective Date and Thereafter.


(a)            
On the Effective Date, the Replacement Borrower shall execute and deliver to Lender that certain First Amended and Restated
Promissory Note dated of even date herewith made payable to the order of Lender in the original principal amount of TEN MILLION
EIGHT HUNDRED THIRTY-SIX THOUSAND FIVE HUNDRED THIRTY AND NO/100 ($10,836,530.00) DOLLARS (the “First Amended and Restated
Note”) as: (a) an amendment, extension and restatement of, and replacement and substitution for, but not a payment of,
the Note; and (b) to evidence the Replacement Borrower’s assumption of all of the Borrower’s liabilities and obligations
under the Loan, the Note, as amended, restated and replaced by the First Amended and Restated Note and under the Loan Agreement,
as amended hereby, as regards liability for the repayment of all principal, interest and amounts due on the Loan, including, without
limitation, liability for all liabilities and obligations of the Borrower for such foregoing amounts which arose and/or were incurred
by the Borrower under the Loan and such documents prior to the Effective Date. The indebtedness evidenced by the Note is continuing
indebtedness evidenced by the First Amended and Restated Note, and nothing herein or in the First Amended and Restated Note shall
be deemed to constitute a payment, settlement or novation of the Note, or release or otherwise adversely affect any lien, mortgage,
or security interest securing such indebtedness or any rights of the Lender against Borrower, the Replacement Borrower, any guarantor,
any surety or other party primarily or secondarily liable for such indebtedness. All amounts outstanding under the Note shall be
automatically transferred to, and be deemed to be outstanding under the First Amended and Restated Note, which is assumed by the
Replacement Borrower. The First Amended and Restated Note amends, restates and replaces the Note in its entirety.




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(b)           
On the Effective Date, the Replacement Borrower hereby also expressly assumes all of the liabilities and obligations of
the Borrower under the Loan Agreement and the Loan Documents, commencing on the Effective Date and continuing for all times thereafter.
Without limiting the generality of the foregoing or any of the obligations in the Loan Documents, the Replacement Borrower hereby
covenants, promises and agrees commencing on the Effective Date and continuing for all times thereafter to: (a) pay the Debt and
the Obligations (as such terms are defined in the Loan Agreement) at the times, in the manner and in all respects as provided in
the Loan Agreement; (b) pay and perform each and all of the covenants, agreements and obligations of the Borrower in the Note,
as amended and restated by the First Amended and Restated Note, the Loan Agreement and the other Loan Documents at the time, in
the manner and in all respects as provided therein; and (c) be bound by each and every term and provision of the First Amended
and Restated Note, the Loan Agreement and other Loan Documents, as though such documents had originally been made, executed and
delivered by the Replacement Borrower. Notwithstanding anything contained herein to the contrary, except for those liabilities
and obligations of Borrower assumed by the Replacement Borrower pursuant to Paragraph 5(a) above, Replacement Borrower assumes
all other liabilities and obligations of the Borrower pursuant to this Paragraph 5(b) commencing on the Effective Date and
continuing for all times thereafter.


(c)            
On the Effective Date, in consideration of the assumption by the Replacement Borrower of all of the liabilities and obligations
of the Borrower under the Loan and the Loan Documents as and to extent provided for in this Paragraph 5 and in the First
Amended and Restated Note, the Lender hereby releases Borrower effective on the Effective Date from only: (a) all liabilities and
obligations of Borrower expressly assumed by the Replacement Borrower pursuant to Paragraph 5(a) hereof, including all liabilities
and obligations relating to the repayment of any and all outstanding principal, interest and other amounts due on the Loan; and
(b) all other liabilities and obligations under the Loan Documents as assumed by the Replacement Borrower pursuant to Paragraph
5(b) hereof commencing on the Effective Date and continuing for all times thereafter but expressly excluding this Agreement.
Accordingly, effective on the Effective Date, the Loan Agreement and the other Loan Documents are hereby modified to change the
definition of “Borrower” as applicable, to mean the Replacement Borrower. The obligations of Borrower under this Agreement
and under the Loan Documents for all periods preceding the Effective Date (excluding those obligations assumed by Replacement Borrower
pursuant to Paragraph 5(a) hereof in full) however shall expressly survive the execution and delivery of this Agreement.
For avoidance of doubt, on the Effective Dave, Borrower shall be released in full from any and all liabilities and obligations
for the repayment of any outstanding principal, interest and other amounts due on the Loan.




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6.              
Execution and Delivery of Replacement Guaranty; Replacement and Substitution of Replacement Guarantor for the Guarantor
as of the Effective Date and Continuing thereafter; Assumption by Replacement Guarantor of Guarantor’s Obligations under
the Environmental Indemnity Commencing on the Effective Date and Continuing Thereafter; Release of Guarantor under Guaranty for
all Periods Commencing on the Effective Date and Thereafter.


(a)            
On the Effective Date, the Replacement Guarantor shall execute and deliver to Lender that certain Replacement Guaranty of
Payment and Recourse Obligations dated as of the Effective Date in favor of Lender (the “Replacement Guaranty”)
whereby the Replacement Guarantor guarantees all of the Obligations (as such term is defined in the Replacement Guaranty) commencing
on the Effective Date and continuing for all times thereafter until the Replacement Guaranty is satisfied in accordance with the
terms thereof.


(b)           
On the Effective Date, the Replacement Guarantor hereby expressly assumes all of the liabilities and obligations of the
Guarantor under the Environmental Indemnity commencing on the Effective Date and continuing for all times thereafter. Without limiting
the generality of the foregoing or any of the obligations in the Loan Documents, the Replacement Guarantor hereby covenants, promises
and agrees effective on the Effective Date and continuing for all times thereafter to: (a) pay and perform each and all of the
covenants, agreements and obligations in the Environmental Indemnity at the time, in the manner and in all respects as provided
therein; and (b) be bound by each and every term and provision of the Environmental Indemnity, as though such document had originally
been made, executed and delivered by the Replacement Guarantor.


(c)            
On the Effective Date, in consideration of the execution and delivery of the Replacement Guaranty by the Replacement Guarantor
in favor of Lender and the assumption by the Replacement Guarantor of all of the liabilities and obligations of the Guarantor under
the Environmental Indemnity pursuant to this Paragraph 6, the Lender hereby releases Guarantor effective on the Effective
Date from and under the Guaranty and the Environmental Indemnity for matters and obligations which arise commencing on the Effective
Date and for all periods thereafter. Accordingly, effective on the Effective Date, the Environmental Indemnity and the other Loan
Documents are hereby modified to reflect that the Guarantor has been replaced by the Replacement Guarantor commencing on the Effective
Date and that the Replacement Guaranty is given in addition to the Guaranty. The obligations of Guarantor under this Agreement
under the Guaranty and the Environmental Indemnity for the periods preceding the Effective Date shall expressly survive the execution
and delivery of this Agreement.




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7.              
Amendment of Loan Agreement. Effective on the Effective Date, the Loan Agreement is hereby amended as follows:


(a)            
The definition of the term, “Borrower” contained in the first paragraph is hereby amended and restated to be,
“IREIT Neenah Fox Point, L.L.C., a Delaware limited liability company”.


(b)           
The definition of the term, “Guarantor” contained in Exhibit A (Definition of Terms) is hereby deleted in its
entirety and the following is substituted in its place:


“Guarantor”
shall mean Inland Real Estate Income Trust, Inc., a Maryland corporation.”


(c)            
Section 3.1(l) of the Loan Agreement captioned, “Ownership Interest” is hereby deleted in its entirety and the
following is substituted therefore:


“(l)Ownership
Interest. The Guarantor is the owner of one hundred percent (100%) of the membership interest in the Borrower.”


(d)           
The first sentence of Section 1.4(a) under Section 1.4 captioned, “Interest Rates” is hereby deleted in its
entirety and the following is hereby inserted in its place:


“(a)Provided
the conditions contained in Section 1.5 are satisfied, interest on the Loan shall accrue at a fluctuating rate per annum
equal to the sum of: (i) LIBOR plus (ii) one hundred eighty-five basis points (1.85%), for the applicable LIBOR Interest
Period.”


(e)            
The first sentence of Section 1.4(b) under Section 1.4 captioned, “Interest Rates” is hereby deleted in its
entirety and the following is hereby substituted in its place:


“(b)Notwithstanding
anything to the contrary or inconsistent herein, in the event all of the conditions contained in Section 1.5 herein are
not satisfied, interest on the Loan shall accrue at a fluctuating rate per annum equal to the sum of: (i) the Base Rate; plus
(ii) eighty-five basis points (0.85%);


(f)            
The third to the last sentence of the definition of the term, “LIBOR Interest Period” contained in Exhibit A
(Definition of Certain Terms) is hereby deleted in its entirety and the following is hereby substituted therefore:




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“If at any
time a LIBOR Interest Period expires less than one month before the Maturity Date, the LIBOR Portion shall automatically convert,
on the last day of the then existing LIBOR Interest Period, without further demand, presentment, protest or notice of any kind,
all of which are hereby waived by the Borrower, to a loan bearing interest at a fluctuating rate equal to the sum of: (i)
one hundred eighty-five basis points (1.85%) per annum; plus (ii) the Daily LIBOR Rate, adjusted by Lender as necessary
at the end of each Business Day.”


(g)           
The definition of the term, “Initial Maturity Date” contained in Exhibit A (Definition of Certain Terms) is
hereby deleted in its entirety and is of no further force and effect. Any references in the Loan Agreement to the Initial Maturity
Date are null and void and of no further force and effect.


(h)           
The definition of the term, “Maturity Date” contained in Exhibit A (Definition of Certain Terms) is hereby deleted
in its entirety and the following is hereby inserted in its place:


““Maturity
Date” means the first to occur of: (i) December 15, 2019 or (ii) the date on which the Debt becomes due and payable pursuant
to the provisions of the Loan Documents (whether by acceleration or otherwise).”


(i)             
Section 1.12 captioned, “Extension Options” is hereby deleted in its entirety and is of no further force and
effect. Any references in the Loan Agreement to the First Extension Option, the First Extension Conditions, the First Extension
Notice, the First Extended Maturity Date, the Second Extension Option, the Second Extension Conditions, the Second Extension Notice,
or the Second Extended Maturity Date are null and void and of no further force and effect.


(j)             
Section 2.1 of the Loan Agreement captioned, “Loan Documents” is hereby amended to include the Replacement Guaranty
as the new Sections 2.1(n), the Assignment and Subordination of the Inland National Real Estate Services, LLC Property Management
Agreement as the new Section 2.1(o) and to include the Inland National Real Estate Services, LLC Consent to Assignment and Subordination
of Property Management Agreement and Estoppel as the new Subsection 2.1(p) hereby constituting additional new Loan Documents.


(k)           
Sections 5.9(b) captioned, “Financial Reports” is hereby deleted in its entirety and the following is substituted
in its place:


“(b)Financial
Reports. Borrower shall deliver or cause to be delivered to Lender each of the following:




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(i)                   
Borrower Annual Financial Statements. Within one hundred twenty (120) days after the end of each calendar year during
the term of the Loan, complete copies of Borrower’s annual internally prepared financial statements for such calendar year
in accordance with generally accepted accounting practices consistently applied, including a statement of operations (profit and
loss), a statement of cash flows (GAAP basis), a calculation of net operating income, a balance sheet and such other information
(including non-financial information) as reasonably requested by Lender, all of the foregoing financial statements and information
shall be prepared and certified as true, complete and correct by an appropriate officer of the Managing Member of Borrower.


                                                                                           
(ii)                   
Borrower Quarterly Financial Statements. Within forty-five (45) days after the end of each calendar quarter ending
March 31, June 30 and September 30, complete copies of Borrower’s internally prepared financial statements for such fiscal
quarter in accordance with generally accepted accounting practices consistently applied, including a statement of operations (profit
and loss), a statement of cash flows (GAAP basis), a calculation of net operating income, a balance sheet and such other information
(including non-financial information) as reasonably requested by Lender, all of the foregoing financial statements and information
shall be prepared and certified as true, complete and correct by an appropriate officer of the Managing Member of Borrower.


                                                                                         
(iii)                   
Guarantor’s Annual Financial Statements. Within ninety (90) days after the end of each fiscal year of the Guarantor
during the term of the Loan, complete copies of Guarantor’s annual GAAP-based unqualified audited financial statements for
such fiscal year in accordance with generally accepted accounting practices consistently applied, including a statement of operations
(profit and loss), a statement of cash flows, a balance sheet and such other information (including non-financial information)
as reasonably requested by Lender, all of the foregoing financial statements and information shall be prepared and audited by an
independent auditor of recognized standing, selected by the Guarantor and reasonably acceptable to the Lender and certified as
true and correct by the Guarantor’s treasurer or chief financial officer. Guarantor’s Form 10-K timely filed with the
SEC shall satisfy the requirements in this Section 5.9(b)(iii).




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(iv)                   
Guarantor’s Quarterly Financial Statements. Within forty-five (45) days after the end of each fiscal quarter
of the Guarantor during the term of the Loan, complete copies of Guarantor’s quarterly compiled financial statements for
such fiscal quarter in accordance with generally accepted accounting practices consistently applied and SEC guidelines, including
a statement of operations (profit and loss), a statement of cash flows, a balance sheet and such other information (including non-financial
information) as reasonably requested by Lender, all of the foregoing financial statements and information shall be prepared and
compiled by an independent auditor of recognized standing, selected by the Guarantor and reasonably acceptable to the Lender and
certified as true and correct by the Guarantor’s treasurer or chief financial officer. Guarantor’s Form 10-Q timely
filed with the SEC shall satisfy the requirements of this Section 5.9(b)(iv).


                                                                                           
(v)                   
Quarterly Operating Statements. Within forty-five (45) days after the end of each calendar quarter, complete copies
of Borrower’s internally prepared operating statements for the Property showing all Gross Income, all Operating Expenses
and all profit and loss for the subject calendar quarter in a form reasonable acceptable to Lender and containing such detail and
such other information (including non-financial information) as reasonably requested by Lender, all of the foregoing operating
statements and information shall be prepared and certified as true, complete and correct by an appropriate officer of the Managing
Member of Borrower.


                                                                                         
(vi)                   
Guarantor’s Covenant Compliance Certificate. So long as Guarantor has full recourse liability for the Payment
Obligations (as such term is defined in the Guaranty) pursuant to the application of Section 3(e) of the Guaranty and Section
5.16(b) of this Agreement, then contemporaneously with the furnishing of the financial statements pursuant to Sections 5.9(b)(iii)
and 5.9(b)(iv) herein, a duly completed compliance certificate from Guarantor, dated the date of such financial statements
and certified as true and correct by the Guarantor’s treasurer or chief financial officer, containing a computation (to the
extent applicable) and a confirmation of compliance with each of the financial covenants set forth in Section 4 of the Guaranty
and stating that the Guarantor has not become aware of any Event of Default that has occurred and is continuing or, if there is
any such Event of Default, describing it and the steps, if any, being taken to cure it.




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(vii)                   
Borrower’s Covenant Compliance Certificate. No later than forty-five (45) days after the end of each calendar
quarter, a duly completed compliance certificate certified as true and correct by Borrower, containing a computation and a confirmation
of on-going compliance with the Debt Service Coverage Ratio as set forth in Section 5.15 herein and stating that Borrower
has not become aware of any Event of Default that has occurred and is continuing or, if there is any such Event of Default, describing
it and the steps, if any being taken to cure it.


                                                                                     
(viii)                   
Rent Rolls. Only if requested by Lender and then upon Lender’s request, a certified copy of the updated rent
roll for the Property in a form reasonably acceptable to Lender, which shall be prepared and certified as true, complete and correct
by an appropriate officer of the Managing Member of Borrower.


                                                                                         
(ix)                   
Budgets and Forecasts. Only if requested by Lender and then upon Lender’s request, copies of the projected
operating budgets and forecasts for the Property for the ensuing year containing such detail as Lender shall reasonably require
which, which shall be prepared and certified as true, correct and complete by an appropriate officer of the Managing Member of
Borrower.


                                                                                           
(x)                   
Annual Tenant Sales and Co-Tenancy Reports. Only if requested by Lender and then upon Lender’s request, annual
tenant sales reports for those Tenants of the Property which are required to report their annual tenant sales to Borrower in a
form acceptable to Lender. Within thirty (30) days of Lender’s request, co-tenancy reports for the Property in a form acceptable
to Lender, which shall be certified as true, correct and complete by an appropriate officer of the Managing Member of Borrower.


                                                                                         
(xi)                   
Leasing Activity Reports. Only if requested by Lender and then upon Lender’s request, leasing activity reports
for the Property in a form acceptable to Lender, which shall be prepared and certified as true, correct and complete by an appropriate
officer of the Managing Member of Borrower.


                                                                                       
(xii)                   
Other Information. Within ten (10) days after request, such further detailed information covering the Property and
the financial affairs of any Loan Party and/or any related entity thereof, as may be reasonably requested by Lender.




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All financial statements
regarding Borrower and Guarantor which are delivered by Borrower to Lender pursuant to this Section 5.9(b) shall be submitted
by Borrower to Lender in one of the following four (4) methods:


	Email:	financial@pncbank.com	 	Fax:	
        913-253-9813

        (Please use the “fine” quality setting when
        faxing)

	 	 	 	 	 
	Regular Mail	 	Overnight Mail
	 	
        PNC Bank, NA

        Attn: Credit Administration

        PO Box 25964

        Shawnee Mission, KS 66225-5964
	 	 	
        PNC Bank, NA

        Attn: Credit Administration

        10851 Mastin, Suite 300

        Overland Park, KS 66210

        913-253-9000



 






Any default, breach or violation of this Section
5.9(b) which continues after fifteen (15) days’ notice from Lender of such default, breach or violation shall be an Event
of Default (without any further notice, grace or cure period).”


 


(l)             
The addresses contained in Section 8.8 of the Loan Agreement captioned, “Notices” are hereby amended and restated
to read as follows:


	If to Borrower:	
        IREIT Neenah Fox Point, L.L.C.

        c/o Inland Real Estate Income Trust, Inc.

        2901 Butterfield Road

        Oak Brook, Illinois 60523

        Attn: President

        

        

	with a copy to:	
        The Inland Real Estate Group, Inc.

        2901 Butterfield Road

        Oak Brook, Illinois 60523

        Attn: Robert Baum, Esq., General Counsel

	If to Lender:	
        PNC Bank, National Association

        One North Franklin Street, Suite 2150

        Chicago, Illinois 60606

        Attn: Joel G. Dalson, Senior Vice President

	with a copy to:	
        Robbins, Salomon & Patt, Ltd.

        180 North LaSalle Street, Suite 3300

        Chicago, Illinois 60601

        Attn: Andrew M. Sachs, Esq.



 




    	14



    	 



    

 


8.              
Amendment of the Guaranty. Effective on the Effective Date, the following paragraph is hereby added as a new Paragraph
29 to the Guaranty:


“26.Further
Limitation of Liability of this Guaranty. Guarantor shall be liable under the terms of this Guaranty from the date of this
Guaranty through and including December 14, 2014. Effective on December 15, 2014 (the “Effective Date”), INLAND
REAL ESTATE INCOME TRUST, INC., a Maryland corporation (the “Replacement Guarantor”) is executing and delivering
a Replacement Guaranty of Payment and Performance dated as of the Effective Date in favor of Lender in order to guarantee the repayment
and performance of the Obligations commencing on the Effective Date and continuing for all times thereafter until the Replacement
Guaranty of Payment and Performance is satisfied pursuant to the terms thereof.” 


9.              
Amendment of Loan Agreement and all Loan Documents. Effective on the Effective Date, the Loan Agreement and all other
Loan Documents are hereby amended to reflect that IREIT Neenah Fox Point, L.L.C., a Delaware limited liability company replaces
KRG Neenah Fox Point, LLC as the Borrower commencing on the Effective Date and continuing at all times thereafter. Effective on
the Effective Date, the Loan Agreement and all of the Loan Documents are hereby amended to reflect that the Replacement Guarantor
and the Replacement Guaranty replace the Guarantor and the Guaranty respectively commencing on the Effective Date and continuing
at all times thereafter until the Replacement Guaranty is satisfied in accordance with the terms thereof. Effective on the Effective
Date, all references in the Loan Documents to the Note shall hereafter be deemed to be the Note, as amended, restated and replaced
by the First Amended and Restated Note.


10.           
Assumption and Extension Fee. Contemporaneous with the execution of this Agreement, Replacement Borrower shall pay
an assumption fee of 0.20% (20 bps) of the Loan to Lender in the amount of TWENTY-ONE THOUSAND SIX HUNDRED SEVENTY-THREE AND 06/100
DOLLARS ($21,673.06) (the “Assumption and Extension Fee”). The Assumption and Extension Fee shall be
deemed fully earned as of the date of this Agreement. The Assumption and Extension Fee shall not be refundable for any reason.


11.           
Lender’s Conditions Precedent. Lender’s execution of this Agreement and consent to the Sale of the Property
to the Replacement Borrower subject to the Mortgage, the Assignment of Rents and Leases and the Lender’s security interests
therein and the Replacement Borrower’s assumption of the Loan and the liabilities and obligations of the Borrower under the
Loan Documents as provided in Paragraph 5 hereof and the assumption by the Replacement Guarantor of the Guarantor’s
liabilities and obligations under the Guaranty and under the Environmental Indemnity as provided in Paragraph 6 hereof and
to amend the Loan Agreement and the Loan Documents as set forth in this Agreement are expressly conditioned upon receipt by Lender
contemporaneous with the execution of this Agreement of all of the following payments and documents in a form and content acceptable
to Lender (collectively, the “Lender’s Conditions Precedent”):




    	15



    	 



    

 


(a)              
The full execution and delivery of this Agreement by the Loan Parties to Lender;


(b)              
The execution and delivery of the First Amended and Restated Note by the Replacement Borrower made payable to the order
of the Lender;


(c)              
The execution and delivery of the Replacement Guaranty by the Replacement Guarantor to Lender;


(d)              
The full execution and delivery of that certain Assumption and Second Mortgage and Assignment of Rents and Leases Modification
Agreement executed by and between Replacement Borrower and Lender which amends the Mortgagor and the Assignor to be the Replacement
Borrower, amends the Maturity Date and amends the Permitted Transfer language contained in the Mortgage as requested by the Replacement
Borrower and the Replacement Guarantor (the “Second Mortgage Modification”);


(e)              
Lender must obtain a current appraisal of the Property at Borrower’s expense which reflects that the outstanding principal
balance of the Loan to be assumed by the Replacement Borrower must have a maximum fifty-nine percent (59%) loan to value of the
Property based on the “As-Is” value per the updated Appraisal which must be acceptable to Lender;


(f)               
Delivery to Lender of a title date down endorsement to Lender’s Loan Title Insurance Policy obtained at Replacement
Borrower’s expense insuring the Replacement Borrower is in fee simple title to the Property and insuring Lender’s Mortgage,
as previously amended and as amended by the Second Mortgage Modification as a valid first mortgage lien on the Property and showing
no exceptions thereto other than Permitted Exceptions and insuring that all endorsements to Lender’s Title Insurance Policy
are brought forward currently through the recording date of the Second Mortgage Modification;


(g)              
UCC Financing Statements for the Replacement Borrower to be filed and recorded in the applicable jurisdictions;


(h)              
The execution and delivery to Lender of the Organizational Documents of the Replacement Borrower as provided in Subparagraph
(q) of Exhibit C of the Loan Agreement, as certified by an officer of the Sole Member of the Replacement Borrower;


(i)               
The execution and delivery to Lender of the Organizational Documents for the Replacement Guarantor as provided in Subparagraph
(q) of Exhibit C of the Loan Agreement, as certified by the applicable officer of the Replacement Guarantor;




    	16



    	 



    

 


(j)               
The full execution and delivery of that certain Assignment and Subordination of the Property Management Agreement executed
by the Replacement Borrower in favor of Lender pledging the new Property Management Agreement to be entered into with Inland National
Real Estate Services, LLC, a Delaware limited liability company as the new Property Manager effective upon the Sale (the “Assignment
and Subordination of the Inland National Real Estate Services, LLC Property Management Agreement”);


(k)              
The full execution and delivery of that certain Consent to Assignment and Subordination of Management Agreement and Estoppel
to be executed by Inland National Real Estate Services, LLC, a Delaware limited liability company as the new Property Manager of
the Property effective upon the Sale (the “Inland National Real Estate Services, LLC Consent to Assignment and Subordination
of Property Management Agreement and Estoppel”);


(l)               
A current Certificate of Insurance of the Replacement Borrower evidencing all insurance coverages on the Property which
shall be effective upon and after the Sale which must comply with all of the insurance requirements of the Loan Agreement and insuring
Lender as a mortgagee and additional insured;


(m)            
Borrower’s and Guarantor’s Counsel Opinion in the form as provided for the in the Loan Agreement for the Replacement
Borrower and the Replacement Guarantor with respect to this Agreement and the Related Documents (as hereinafter defined) and the
assumptions provided for in such documents;


(n)              
The execution and delivery to Lender of such other documents as Lender shall reasonably require in connection with this
Agreement (such other documents together with the documents provided for in this Paragraph 11 above are collectively referred
to herein as, the “Related Documents”);


(o)              
The payment by the Replacement Borrower of the Assumption and Extension Fee to Lender; and


(p)              
The payment by the Replacement Borrower of Lender’s legal fees and expenses in connection with the documentation,
negotiation and closing of this Agreement and all related documents as provided in Paragraph 12 of this Agreement.




    	17



    	 



    

 


12.           
Additional Loan Expenses. The Replacement Borrower hereby covenants and agrees to immediately pay Lender upon the
execution and closing of this Agreement, all expenses, charges, costs and fees relating to this Agreement, including, without limitation,
Lender’s attorney’s fees in connection with the negotiation, documentation and closing of this Agreement and all other
expenses, charges, costs and fees referred to or necessitated by the terms of this Agreement (collectively, the “Additional
Loan Expenses”). In the event the Additional Loan Expenses are not paid to Lender upon the execution of this Agreement,
the Additional Loan Expenses shall bear interest from the date of execution and closing of this Agreement until paid at the Default
Rate.


13.           
Representations and Warranties. Each of the Loan Parties hereby represents and warrants to Lender as to itself as
follows:


(a)              
Each has full power and authority to execute and deliver this Agreement and all Related Documents, and to perform their
respective obligations hereunder and thereunder;


(b)              
Upon the execution and delivery of this Agreement and all Related Documents, all such documents to which a Loan Party is
a party thereto, shall be valid, binding and enforceable upon each Loan Party in accordance with its respective terms, subject
to applicable bankruptcy, insolvency and similar laws affecting creditor’s rights generally and subject, as to enforceability,
to general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law);


(c)              
The execution, delivery and performance of this Agreement and all Related Documents to which the Replacement Borrower is
a party have been duly authorized by all necessary limited liability company action for and on behalf of the Replacement Borrower.
All entities and persons signing this Agreement and all Related Documents to which the Replacement Borrower is a party have the
appropriate legal authority for the Replacement Borrower to sign said documents for and on behalf of the Replacement Borrower as
the legal, valid and binding obligations of the Replacement Borrower, subject to applicable bankruptcy, insolvency and similar
laws affecting creditor’s rights generally and subject, as to enforceability, to general principles of equity (regardless
of whether enforcement is sought in a proceeding in equity or at law);




    	18



    	 



    

 


(d)              
The execution, delivery and performance of this Agreement and all Related Documents to which the Replacement Guarantor is
a party has been duly authorized by all necessary corporate action for and on behalf of the Replacement Guarantor. All entities
and persons signing this Agreement and all Related Documents to which the Replacement Guaranty is a party have the appropriate
legal authority for the Replacement Guarantor to sign said documents for and on behalf of the Replacement Guarantor as the legal,
valid and binding obligations of the Replacement Guarantor, subject to applicable bankruptcy, insolvency and similar laws affecting
creditor’s rights generally and subject, as to enforceability, to general principles of equity (regardless of whether enforcement
is sought in a proceeding in equity or at law);


(e)              
The execution, delivery and performance of this Agreement has been duly authorized by all necessary limited partnership
action for and on behalf of Guarantor. All entities and persons signing this Agreement have the appropriate legal authority for
the Guarantor to sign this Agreement for and on behalf of the Guarantor as the legal, valid and binding obligations of the Guarantor,
subject to applicable bankruptcy, insolvency and similar laws affecting creditor’s rights generally and subject, as to enforceability,
to general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law);


(f)               
The execution, delivery and performance of this Agreement has been duly authorized by all limited liability company action
for and on behalf of Borrower. All entities and persons signing this Agreement have the appropriate legal authority for the Borrower
to sign this Agreement for and on behalf of the Borrower as the legal, valid and binding obligations of the Borrower, subject to
applicable bankruptcy, insolvency and similar laws affecting creditor’s rights generally and subject, as to enforceability,
to general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law);


(g)              
The execution, delivery and performance of this Agreement and all Related Documents to which a Loan Party is a party does
not and will not contravene, conflict with, violate or constitute a default under any agreement or any applicable law, rule, regulation,
judgment, decree or order, or any agreement, indenture or instrument to which any Loan Party is a party or by which any Loan Party
is bound except for such violations that individually or in the aggregate would not have a material adverse effect on any Loan
Party or any the ability of any of them to perform their respective obligations hereunder and under all related documents;




    	19



    	 



    

 


(h)              
There is not any condition, event or circumstance existing, or any litigation, arbitration, governmental or administrative
proceedings, investigations, actions, examinations, claims or demands pending, or to any Loan Party’s knowledge, threatened,
affecting any Loan Party, which could prevent any of them from complying with or performing their respective obligations under
the Loan Documents, as previously amended and as amended by this Agreement and by the new loan documents provided for in Paragraph
11 of this Agreement, within the time limits set forth herein for such compliance or performance;


(i)               
There have been no changes to the Operating Agreement or the Articles of Formation of the Borrower, since they were last
delivered and/or certified to Lender in connection with the amendment of the Borrower’s name following the Merger as of August
26, 2014 and the Operating Agreement and the Articles of Formation of the Borrower as so last delivered and/or certified to Lender
remain in full force and effect as of the date of this Agreement; and


(j)               
There have been no changes to the Amended and Restated Agreement of Limited Partnership or the Certificate of Limited Partnership
of the Guarantor, since they were last delivered and/or certified to Lender in connection with the Merger and the Consent to Merger,
Assumption and First Loan Modification closings effective as of July 1, 2014 and the Amended and Restated Agreement of Limited
Partnership and the Certificate of Limited Partnership of the Guarantor as so last delivered and/or certified to Lender, remain
in full force and effect as of the date of this Agreement.


14.           
Amendment/Reaffirmation of Loan Documents. Except as previously amended and as amended by the terms of this Agreement
and by the new Loan Documents provided for in Paragraph 11 hereof, the terms and conditions of the Loan Agreement and the
other Loan Documents shall be and remain in full force and effect and shall continue to govern the rights and obligations of the
parties. The Loan Parties hereby restate, remake and reaffirm any and all covenants, representations and warranties contained in
the Loan Documents to which each is a party, as if all such instruments had been executed as of the date hereof.


15.           
No Defenses, Counterclaims. Each of the Loan Parties hereby represents and warrants to, and covenants with, Lender
as to itself that as of the date hereof: (a) each Loan Party has no defenses, offsets or counterclaims of any kind or nature whatsoever
against Lender with respect to the Loan or any of the Loan Documents, or any action previously taken or not taken by Lender with
respect thereto or with respect to any security interest, encumbrance, lien or collateral in connection therewith to secure the
liabilities of each Loan Party; and (b) that Lender has fully performed all obligations to each Loan Party which it may have had
or has on and of the date hereof.




    	20



    	 



    

 


16.           
General Release. In consideration of Lender entering into this Agreement and consenting to the Sale of the Property
to the Replacement Borrower and providing for the Loan Parties’ Request, and for good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, Borrower, Guarantor, Replacement Borrower and Replacement Guarantor for: (i)
themselves, (ii) any parent, affiliate or subsidiary thereof, (iii) any partnership or joint venture of which any person or entity
comprising such person (or any parent, affiliate or subsidiary thereof) is a partner, and (iv) the respective partners, members,
officers, directors, shareholders, heirs, legal representatives, legatees, successors and assigns of all of the foregoing persons
and entities, hereby release and forever discharge Lender, its past, present and future shareholders, successors, assigns, officers,
directors, agents, attorneys and employees together with their respective heirs, legal representatives, legatees, successors and
assigns of and from all actions, claims, demands, damages, debts, losses, liabilities, indebtedness, causes of action either at
law or in equity and of whatever kind or nature, whether known or unknown, direct or indirect, existing as of the date of this
Agreement, by reason of any matter, cause or thing whatsoever arising out of or relating to the transactions which are the subject
of this Agreement.


(a)              
It is acknowledged that Borrower, Guarantor, Replacement Borrower and Replacement Guarantor have read the General Release
provisions of this Paragraph 16 and consulted legal counsel before executing same; that Borrower, Guarantor, Replacement
Borrower and Replacement Guarantor have relied upon their own judgment and that of their legal counsel in executing the General
Release provisions of this Paragraph 16 and have not relied on or been induced by any representation, statement or act by
any other party referenced to herein which is not referred to in this instrument; that Borrower, Guarantor, Replacement Borrower
and Replacement Guarantor enter into the General Release provisions of this Paragraph 16 voluntarily, with full knowledge
of its significance; and that the General Release provisions of this Paragraph 16 are in all respects complete and final.


(b)              
If any term or provision of the General Release contained herein or the application thereof to any person, entity or circumstance
shall, to any extent, be held invalid and/or unenforceable by a court of competent jurisdiction, the remainder of the General Release
contained herein, or the application of such term or provisions to persons, entities or circumstances other than those as to which
it is held invalid or unenforceable shall not be affected thereby, and each term and provision of the General Release contained
herein shall be valid and be enforced to the fullest extent permitted by law.


17.           
No Custom. This Agreement shall not establish a custom or waive, limit or condition the rights and remedies of Lender
under the Loan Documents, all of which rights and remedies are expressly reserved.




    	21



    	 



    

 


18.           
Reaffirmation of Loan Documents, No Novation. Except as previously amended and as may be expressly set forth herein
and in the new Loan Documents provided for in Paragraph 11 hereof, the Loan Documents remain unmodified, and all other terms
and conditions thereof remain in full force and effect. Notwithstanding anything to the contrary contained herein or in the new
Loan Documents provided for in Paragraph 11 hereof, the Loan Parties and Lender expressly state, declare and acknowledge
that each of this Agreement and/or the new Loan Documents provided for in Paragraph 11 of this Agreement, is intended only
to modify each Loan Party’s continuing obligations in the manner set forth herein, and is not intended as a novation of any
and all amounts presently due and owing from any Loan Party to Lender.


19.           
Event of Default. Each of the Loan Parties hereby acknowledges and agrees that a breach by any one of them of any
term, provision, covenant or condition herein set forth or herein required of any of the Loan Parties, to be kept or performed,
and which is not kept or performed pursuant to the terms hereof, shall constitute an Event of Default under the Loan Documents
if said Event of Default is not cured within any applicable cure or grace period provided for in the Loan Documents.


20.           
Captions/Counterparts. The captions used herein are for convenience of reference only and shall not be deemed to
limit or affect the construction and interpretation of the terms of this Agreement. This Agreement may be executed in any number
of counterparts, all of which shall be taken to be one and the same instrument, with the same effect as if all parties had signed
the same signature page.


(SIGNATURE PAGE IMMEDIATELY FOLLOWS)




    	22



    	 



    

IN WITNESS WHEREOF,
Borrower, Guarantor, Replacement Borrower, Replacement Guarantor and Lender have duly authorized and executed this Consent to Sale,
Assumptions and Second Loan Modification Agreement as of the date first above written.








	
        BORROWER:

         

        KRG NEENAH FOX POINT, L.L.C.,

        a Delaware limited liability company
	 	
        REPLACEMENT GUARANTOR:

         

        INLAND REAL ESTATE INCOME 

        TRUST, INC.,

        a Maryland corporation

	 	 	 	 	 
	By:	/s/ Daniel R. Sink	 	By:	/s/ David Z. Lichterman
	Name:	Daniel R. Sink	 	Name:	David Z. Lichterman
	Its:	
        Executive Vice President and

        Chief Financial Officer
	 	Its:	Vice President, Treasurer & CAO
	 	 	 	 	 
	 	 	 	 	 
	
        GUARANTOR:

         

        KITE REALTY GROUP, L.P.,

        a Delaware limited Partnership
	 	
        LENDER:

         

        PNC BANK, NATIONAL ASSOCIATION,

        a national banking association

	 	 	 	 	 
	By:	/s/ Daniel R. Sink	 	By:	/s/ Joel G. Dalson
	Name:	Daniel R. Sink	 	Name:	Joel G. Dalson
	Its:	
        Executive Vice-President and

        Chief Financial Officer
	 	Its:	Senior Vice-President
	 	 	 	 	 
	 	 	 	 	 
	
        REPLACEMENT BORROWER:

         

        IREIT NEENAH FOX POINT, L.L.C.,

         a Delaware limited liability company
	 	 	 
	 	 	 	 	 
	By:	
        Inland Real Estate Income Trust, Inc.

        a Maryland corporation, its sole member
	 	 	 
	 	 	 	 	 
	By:	/s/ David Z. Lichterman	 	 	 
	Name:	David Z. Lichterman	 	 	 
	Its:	Vice President, Treasurer & CAO	 	 	 


 


 


 


 


 


Execution
Page to Consent
to Sale, Assumptions



and Second Loan Modification
Agreement



 




    	23



    	 



    

STATE OF INDIANA)


) SS.


COUNTY OF MARION)


 


The undersigned, a Notary
Public in and for the said County, in the State aforesaid, DO HEREBY CERTIFY that Daniel
R. Sink, the Executive Vice-President and Chief Financial Officer of KRG NEENAH FOX POINT, L.L.C., a Delaware limited
liability company, who is personally known to me to be the same person whose name is subscribed to the foregoing instrument
as such Executive Vice-President and Chief Financial Officer, appeared before me this day in person and acknowledged that he signed
and delivered the said instrument as his own free and voluntary act and as the free and voluntary act of KRG NEENAH FOX POINT,
L.L.C. for the uses and purposes therein set forth.


 


GIVEN under my hand and notarial seal this 11th
day of December, 2014.


 


/s/ Stacey D. Teeters


Notary Public


 


My Commission Expires: April 14, 2020


 


 


 Notary
Page to Consent to Sale, Assumptions and


Second
Loan Modification Agreement 




    	24



    	 



    

STATE OF INDIANA)


) SS.


COUNTY OF MARION)


 


The undersigned, a Notary
Public in and for the said County, in the State aforesaid, DO HEREBY CERTIFY that daniel
r. sink, the Executive Vice-President and Chief Financial Officer of KITE REALTY GROUP TRUST, a Maryland real
estate investment trust which is the General Partner of KITE REALTY GROUP, L.P., a Delaware limited partnership, who is
personally known to me to be the same person whose name is subscribed to the foregoing instrument as such Executive Vice-President
and Chief Financial Officer, appeared before me this day in person and acknowledged that he signed and delivered the said instrument
as his own free and voluntary act and as the free and voluntary act of said KITE REALTY GROUP TRUST, as the General Partner
of and on behalf of KITE REALTY GROUP, L.P. and as the free and voluntary act of KITE REALTY GROUP, L.P. for the
uses and purposes therein set forth.


 


GIVEN under my hand and notarial seal this 11th
day of December, 2014.


 


/s/ Stacey D. Teeters


Notary Public


 


My Commission Expires: April 14, 2020


 


 


 


 Notary
Page to Consent to Sale, Assumptions and


Second
Loan Modification Agreement 





    	25



    	 



    

STATE OF ILLINOIS)


) SS.


COUNTY OF DUPAGE)


I, Susan Metzler,
a Notary Public, in and for and residing in said County, in the State aforesaid, DO HEREBY CERTIFY that David Z. Lichterman,
the VP, treasurer & CAO of INLAND REAL ESTATE INCOME TRUST, INC., a Maryland corporation, which is the Sole Member of
IREIT NEENAH FOX POINT, L.L.C., a Delaware limited liability company, who is personally known to me to be the same person
whose name is subscribed to the foregoing instrument as such VP, treasurer & CAO, appeared before me this day in person and
acknowledged that he/she signed and delivered the said instrument as his/her own free and voluntary act and as the free and voluntary
act of said INLAND REAL ESTATE INCOME TRUST, INC., as the Sole Member of and on behalf of IREIT NEENAH FOX POINT, L.L.C.
and as the free and voluntary act of IREIT NEENAH FOX POINT, L.L.C. for the uses and purposes therein set forth.


GIVEN under my hand and notarial seal
this 11th day of December, 2014.


/s/ Susan Metzler 


Notary Public


My Commission Expires: May 05, 2015


 


 Notary
Page to Consent to Sale, Assumptions and


Second
Loan Modification Agreement  




    	26



    	 



    

STATE OF ILLINOIS)


) SS.


COUNTY OF DUPAGE)


 


The undersigned,
a Notary Public in and for the said County, in the State aforesaid, DO HEREBY CERTIFY that David Z. Lichterman,
a(n) VP, treasurer & CAO of INLAND REAL ESTATE INCOME TRUST, INC., a Maryland corporation, who is personally known to
me to be the same person whose name is subscribed to the foregoing instrument as such VP, treasurer & CAO, appeared before
me this day in person and acknowledged that he/she signed and delivered the said instrument as his/her own free and voluntary act
and as the free and voluntary act of INLAND REAL ESTATE INCOME TRUST, INC. for the uses and purposes therein set forth.


GIVEN under my hand and
notarial seal this 11th day of December, 2014.


 


 


 


/s/ Susan Metzler 


Notary Public


 


My Commission Expires: May
05, 2015





 


 


 


Notary
Page to Consent to Sale, Assumptions and


Second
Loan Modification Agreement 











    	27



    	 



    

STATE OF ILLINOIS)


) SS.


COUNTY OF COOK)


 


The undersigned,
a Notary Public in and for the said County, in the State aforesaid, DO HEREBY CERTIFY that JOEL G. DALSON, a Senior Vice-President
of PNC BANK, NATIONAL ASSOCIATION, a national banking association, who is personally known to me to be the same person whose
name is subscribed to the foregoing instrument as such Senior Vice-President, appeared before me this day in person and acknowledged
that he signed and delivered the said instrument as his own free and voluntary act and as the free and voluntary act of said Bank
for the uses and purposes therein set forth.


GIVEN under my hand and
notarial seal this 12th day of December, 2014.


 


 


 


/s/ Rachel D. Booker 


Notary Public


 


My Commission Expires: 8-20-16


 




 Notary
Page to Consent to Sale, Assumptions and


Second
Loan Modification Agreement