HEREOF OR THEREOF, SHALL BE DETERMINED AND SETTLED
BY BINDING ARBITRATION IN THE COUNTY OF ORANGE, STATE OF CALIFORNIA, IN
ACCORDANCE WITH TITLE 9 OF THE CALIFORNIA CIVIL CODE AND THE CODE OF CIVIL
PROCEDURE, INCLUDING SPECIFICALLY CALIFORNIA CODE OF CIVIL PROCEDURE SECTIONS
1283.05 AND 1283.1, AND THE RULES AND PROCEDURES OF THE AMERICAN ARBITRATION
ASSOCIATION. THE SUBSTANTIALLY PREVAILING PARTY SHALL BE ENTITLED TO AN AWARD OF
ITS REASONABLE COSTS AND EXPENSES INCLUDING BUT NOT LIMITED TO ATTORNEY'S FEES
AND COSTS. ANY AWARD RENDERED THEREIN SHALL BE FINAL AND BINDING ON EACH AND ALL
OF THE PARTIES THERETO AND THEIR PERSONAL REPRESENTATIVES, AND JUDGMENT MAY BE
ENTERED THEREON IN ANY COURT OF COMPETENT JURISDICTION.
8.18.2 WAIVER OF LEGAL RIGHTS. BY INITIALING IN THE SPACE BELOW,
THE PARTIES ACKNOWLEDGE AND AGREE TO HAVE ANY DISPUTE ARISING OUT OF THE MATTERS
INCLUDED IN THIS ARTICLE DECIDED BY NEUTRAL ARBITRATION AS PROVIDED UNDER
CALIFORNIA LAW AND THAT THEY ARE WAIVING ANY RIGHTS THEY MAY POSSESS TO HAVE THE
DISPUTE LITIGATED IN A COURT OR BY JURY TRIAL. THE PARTIES FURTHER ACKNOWLEDGE
AND AGREE THAT THEY ARE WAIVING THEIR JUDICIAL RIGHTS TO DISCOVERY AND APPEAL
EXCEPT TO THE EXTENT SUCH RIGHTS ARE SPECIFICALLY INCLUDED IN THIS ARTICLE. IF
EITHER PARTY REFUSES TO SUBMIT TO ARBITRATION AFTER EXECUTION OF THIS AGREEMENT
AND INITIALING BELOW, SUCH PARTY MAY BE COMPELLED TO ARBITRATE UNDER THE
AUTHORITY OF THE CALIFORNIA CODE OF CIVIL PROCEDURE. EACH PARTY'S AGREEMENT TO
THIS ARTICLE IS VOLUNTARY. THE PARTIES HAVE READ AND UNDERSTAND THE FOREGOING
AND AGREE TO SUBMIT DISPUTES ARISING OUT OF THE MATTERS INCLUDED IN THIS ARTICLE
TO NEUTRAL ARBITRATION.
/s/RH
/s/LR
Seller's Initials
Buyer's Initials
8.19 ACCEPTANCE OR REJECTION OF BUYER'S OFFER. THIS AGREEMENT DOES NOT
CONSTITUTE AN OFFER OF ANY KIND BY SELLER AND SHALL NOT BIND SELLER UNLESS DULY
EXECUTED AND DELIVERED BY SELLER. TO SUBMIT AN OFFER, BUYER SHALL DELIVER TO
ESCROW AGENT (1) THREE COMPLETED AND EXECUTED ORIGINALS OF THIS AGREEMENT
(2) CASH IN THE AMOUNT OF BUYER'S DEPOSIT AND (3) THE PURCHASER QUESTIONNAIRE.
SELLER SHALL HAVE 15 DAYS TO EITHER ACCEPT OR REJECT BUYER'S OFFER. IF SELLER
DOES NOT ACCEPT BUYER'S OFFER WITHIN SUCH 15-DAY PERIOD, THE OFFER SHALL BE
DEEMED REJECTED. IN THE EVENT THE OFFER IS REJECTED, BUYER'S DEPOSIT SHALL BE
RETURNED TO BUYER WITHOUT INTEREST AND THIS AGREEMENT SHALL NOT BECOME
EFFECTIVE.
[BALANCE OF PAGE INTENTIONALLY BLANK]
B-8
IN WITNESS WHEREOF, this Agreement has been executed as of the Effective
Date.
SELLER:
NNN 3500 Maple VF 2003, LLC,
a Delaware limited liability
company,
By:
Triple Net Properties, LLC,
a Virginia limited
liability company,
Manager
By:
/s/ Richard T. Hutton
Name:
Richard Hutton
Title:
Executive Vice President
Dated:
10/16, 2006
BUYER:
NNN 3500 Maple, LLC,
a Delaware limited liability company,
By:
Triple Net Properties, LLC,
a Virginia limited
liability company,
Manager
By:
/s/ Louis Rogers
Name:
Louis Rogers
Title:
President
Dated:
10/16, 2006
PARTIES MUST ALSO INITIAL SECTIONS 6.1 AND 8.18.2
BUYER MUST ALSO INITIAL FRONT PAGE
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