AND ITS AFFILIATES, ACKNOWLEDGES THAT THE BUSINESS MANAGER AND ITS
AFFILIATES HAVE FIDUCIARY DUTIES TO THE COMPANY AND TO THE STOCKHOLDERS. THE
BUSINESS MANAGER, ON BEHALF OF ITSELF AND ITS AFFILIATES, AGREES, ON THE ONE
HAND, THAT THE BUSINESS MANAGER AND ITS AFFILIATES WILL ENDEAVOR TO BALANCE THE
INTERESTS OF THE COMPANY WITH THE INTERESTS OF THE BUSINESS MANAGER AND ITS
AFFILIATES IN MAKING ANY DETERMINATION WHERE A CONFLICT OF INTEREST EXISTS
BETWEEN THE COMPANY AND THE BUSINESS MANAGER OR ITS AFFILIATES.
26.
HEADINGS. THE SECTION HEADINGS HEREOF HAVE
BEEN INSERTED FOR CONVENIENCE OF REFERENCE ONLY AND SHALL NOT BE CONSTRUED TO
AFFECT THE MEANING, CONSTRUCTION OR EFFECT OF THIS AGREEMENT.
[THE REMAINDER OF THIS PAGE INTENTIONALLY BLANK]
20
IN WITNESS WHEREOF, the undersigned have executed this Business Management
Agreement as of the date first above written.
COMPANY:
BUSINESS MANAGER:
INLAND AMERICAN REAL ESTATE TRUST,
INC.
INLAND AMERICAN BUSINESS MANAGER &
ADVISOR INC.
By:
/s/ Brenda G. Gujral
By:
/s/ Roberta S. Matlin
Name:
Brenda G. Gujral
Name:
Roberta S. Matlin
Its:
President
Its:
President