Document:

AGREEMENT OF
SALE

    

    AGREEMENT OF SALE, made as of
March 10, 2010, between Reflectkote, Inc, a Nevada corporation, having an
address at 408 West 57th Street, Ste 8E, New York, NY  10019
(“Seller”), and Extreme Mobile Coatings Worldwide Corp., a Delaware corporation,
having an address at 126 Dewey Dr., Nicholasville, KY  40356
(“Purchaser”).

    

    WITNESSETH:

    

    WHEREAS, Purchaser desires to
acquire, and Seller desires to sell, the assets of the business known as
Reflectkote hereinafter specified, upon the terms and conditions hereinafter set
forth.

    

    NOW, THEREFORE, in
consideration of the covenants and agreements hereafter set forth, and other
valuable consideration, the receipt and sufficiency of which hereby are
acknowledged, the parties hereto agree as follows:

    

    1.  Agreement
to Sell.  Seller agrees to sell, transfer and deliver to
Purchaser, and Purchaser agrees to purchase, upon the terms and conditions
hereinafter set forth, all of the assets (other than cash, certificates of
deposit, securities, cash equivalents and accounts receivable) of the business
known as Reflectkote (the “Assets”), including without limitation the
following:

    

    (a)  the
patents and rights described in Exhibit A-1 hereto (the “Patents”);
and

    (b)  all
right, title and interest of Seller in the name Reflectkote and any variants
thereof (the “Name”)

    

    2.  Purchase
Price.  The purchase price to be paid by Purchaser, as
follows:

    

    
      	
               
      

            	
              (a)

            	
              Assumption
      of those certain liabilities of REFLECTKOTE Existing Indebtedness
      identified in Exhibit B hereto in said principal amount, and paying the
      same according to the terms
thereof,

            

    

    
      	
               
      

            	
              (b)

            	
              The
      issuance of a total of 50,000,000 shares of common stock of Extreme Mobile
      Coatings Worldwide Corp. (the “Extreme Common Stock”), which shall be
      subject to a Registration Statement on Form S-4 and distributed to the
      shareholders of records of Reflectkote, Inc. as of the record date set and
      established by the Board of Directors of Reflectkote, Inc., that date
      being March 9, 2010.  The Extreme Common Stock shall not be
      distributed to the shareholders of Reflectkote, Inc., until the
      effectiveness of the Registration Statement on Form
  S-4.

            

    

    

    3.  The
Closing.  The “closing” means the settlement of the obligations
of Seller and Purchaser to each other under this agreement, including the
payment of the purchase price to Seller as provided in Article 1 hereof and the
delivery of the closing documents provided for in Article 4
hereof.  The closing shall be held at the offices of Michael S. Krome,
Esq., 8 Teak Court, Lake Grove, NY  11755, at 10 A.M. on March 10,
2010 (the “closing date”).

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    4.  Closing
Documents.  At the closing Seller shall execute and deliver to
Purchaser:

    

    (a)  a
Bill of Sale substantially in the form of Exhibit C hereto

    (b) such
other instruments as may be necessary or proper to transfer to Purchaser all
other ownership interests in the Assets to be transferred under this
agreement

    

    Seller
shall advise Purchaser of, and cause to be delivered to Purchaser, all trade
secrets and proprietary information pertaining to the business.

    

    At the
closing Purchaser shall execute and deliver to Seller:

    

    (a)  an
Assumption of the Existing Indebtedness in form and substance satisfactory to
Seller's attorney

    

    5.  Closing
Adjustments.  The following items shall be apportioned as of
midnight of the day preceding the closing date:

    

    (a)  interest
on the Existing Indebtedness, if any.

    

    6.  Use of
Purchase Price to Pay Encumbrances.  If there is any lien or
encumbrance against the Assets, or anything else affecting this sale, which
Seller is obligated to pay and discharge at the closing, Seller may use any
portion of the balance of the purchase price to discharge it, or Seller may
allow to Purchaser the amount thereof as a credit at the
closing.  Purchaser agrees to provide separate certified checks as
reasonably requested to assist in clearing up these matters.

    

    7.  Representations
and Warranties of Seller.  Seller represents and warrants to
Purchaser as follows:

    

    (a)  Seller
is a corporation duly organized and validly existing under the laws of Nevada,
and is duly qualified to do business in New York.  Seller has full
power and authority to conduct its business as now carried on, and to carry out
and perform its undertakings and obligations as provided herein.  The
execution and delivery by Seller of this agreement and the consummation of the
transactions contemplated herein have been duly authorized by the Board of
Directors of Seller and will not conflict with or breach any provision of the
Certificate of Incorporation or Bylaws of Seller.

    (b)  No
action, approval, consent or authorization of any governmental authority is
necessary for Seller to consummate the transactions contemplated
hereby.

    (c)  Seller
is the owner of and has good and marketable title to the Assets, free of all
liens, claims and encumbrances, except as set forth herein.

    (d)  There
are no violations of any law or governmental rule or regulation pending against
Seller or the Assets.

    (e)  There
are no judgments, liens, suits, actions or proceedings pending against Seller or
the Assets, except as set forth in Exhibit D herein.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (f)  Seller
has not entered into, and the Assets are not subject to, any:  (i)
written contract or agreement for the employment of any employee of the
business; (ii) contract with any labor union or guild; (iii) pension,
profit-sharing, retirement, bonus, insurance, or similar plan with respect to
any employee of the business; or (iv) similar contract or agreement affecting or
relating to the Assets.

    

    8.  Representations
and Warranties of Purchaser.  Purchaser represents and warrants
to Seller as follows:

    

    (a)  Purchaser
is a corporation duly organized and validly existing under the laws of Delaware,
and is duly qualified to do business in New York.  Purchaser has full
power and authority to carry out and perform its undertakings and obligations as
provided herein.  The execution and delivery by Purchaser of this
agreement and the consummation of the transactions contemplated herein have been
duly authorized by the Board of Directors of Purchaser and will not conflict
with or breach any provision of the Certificate of Incorporation or Bylaws of
Purchaser.

    (b)  No
action, approval, consent or authorization of any governmental authority is
necessary for Purchaser to consummate the transactions contemplated
hereby.

    

    9.   
 No Other
Representations.  Purchaser acknowledges that neither Seller
nor any representative or agent of Seller has made any representation or
warranty (expressed or implied) regarding the Assets or the business, or any
matter or thing affecting or relating to this agreement, except as specifically
set forth in this agreement.  Seller shall not be liable or bound in
any manner by any oral or written statement, representation, warranty, agreement
or information pertaining to the Assets or the business or this agreement
furnished by any broker, agent or other person, unless specifically set forth in
this agreement.  Purchaser has inspected the Assets, Purchaser agrees
to take the Assets “as is” and in their present condition, subject to reasonable
use, wear, tear and deterioration between now and the closing date.

    

    10.  Conduct
of the Business.  Seller, until the closing,
shall:

    

    (a)  conduct
the business in the normal, useful and regular manner;

    (b)  use
its best efforts to preserve the business and the goodwill of the customers and
suppliers of the business and others having relations with Seller;
and

    (c)  give
Purchaser and its duly designated representatives reasonable access to Seller's
premises and the books and records of the business, and furnish to Purchaser
such data and information pertaining to Seller's business as Purchaser from time
to time reasonably may request.

    

    Unless
and until the closing shall take place, Purchaser shall hold in confidence all
information obtained in connection with this agreement, and, if for any reason
the closing shall not take place, Purchaser shall return to Seller all documents
received hereunder.

    

    11.  Income
And Expenses Before and After the Closing.  Except as otherwise
provided in this agreement, Seller shall be liable for the payment of all bills
for merchandise, goods and inventory delivered to the business before the
closing; and Purchaser shall be liable for the payment of all bills for
merchandise, goods and inventory delivered to the business after the date of the
closing.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    All money
received by Purchaser after the closing, on account of Seller's accounts
receivable and other receivables (including without limitation credits for
unsold merchandise returned to suppliers before the closing) shall belong to
Seller, and shall be collected by Purchaser and promptly remitted to
Seller.

    

    Seller
shall be liable for the payment of all salaries, payroll deductions and taxes
levied upon the employer in connection with the employee's work performed before
the closing.  Purchaser shall be responsible for the payment of all
salaries, payroll deductions and taxes levied upon the employer in connection
with the employee's work performed after the closing.

    

    12.  Conditions
to Closing.  The obligations of the parties to close hereunder
are subject to the following conditions:

    

    (a)  All
of the terms, covenants and conditions to be complied with or performed by the
other party under this agreement on or before the closing shall have been
complied with or performed in all material respects.

    (b)  All
representations or warranties of the other party herein are true in all material
respects as of the closing date.

    (c)  On
the closing date, there shall be no liens or encumbrances against the Assets,
except as provided for herein.

    

    If
Purchaser shall be entitled to decline to close the transactions contemplated by
this agreement, but Purchaser nevertheless shall elect to close, Purchaser shall
be deemed to have waived all claims of any nature arising from the failure of
Seller to comply with the conditions or other provisions of this agreement of
which Purchaser shall have actual knowledge at the closing.

    

    13.  Brokerage.  The
parties hereto represent and warrant to each other that they have not dealt with
any broker or finder in connection with this agreement or the transactions
contemplated hereby, and no broker or any other person is entitled to receive
any brokerage commission, finder's fee or similar compensation in connection
with this agreement or the transactions contemplated hereby.  Each of
the parties shall indemnify and hold the other harmless from and against all
liability, claim, loss, damage or expense, including reasonable attorneys' fees,
pertaining to any broker, finder or other person with whom such party has
dealt.

    

    14.  Notices.  All
notices, demands and other communications required or permitted to be given
hereunder shall be in writing and shall be deemed to have been properly given if
delivered by hand or by Federal Express courier or by registered or certified
mail, return receipt requested, with postage prepaid, to Seller or Purchaser, as
the case may be, at their addresses first above written, or at such other
addresses as they may designate by notice given hereunder.

    

    15.  Survival.  The
representations, warranties and covenant contained herein shall survive the
delivery of the Bill of Sale and shall continue in full force and effect after
the closing, except to the extent waived in writing.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    16.  Further
Assurances.  In connection with the transactions contemplated
by this agreement, the parties agree to execute and deliver such further
instruments, and to take such further actions, as may be reasonably necessary or
proper to effectuate and carry out the transactions contemplated in this
agreement.

    

    17.  Entire
Agreement.  This agreement contains all of the terms agreed
upon between Seller and Purchaser with respect to the subject matter
hereof.  This agreement has been entered into after full
investigation.  All prior oral or written statements, representations,
promises, understandings and agreements of Seller and Purchaser are merged into
and superseded by this agreement, which alone fully and completely expresses
their agreement.

    

    18.  Changes
Must Be In Writing.  No delay or omission by either Seller or
Purchaser in exercising any right shall operate as a waiver of such right or any
other right.  This agreement may not be altered, amended, changed,
modified, waived or terminated in any respect or particular unless the same
shall be in writing signed by the party to be bound.  No waiver by any
party of any breach hereunder shall be deemed a waiver of any other or
subsequent breach.

    

    19.  Captions
And Exhibits.  The captions in this agreement are for
convenience only and are not to be considered in construing this
agreement.  The Exhibits annexed to this agreement are an integral
part of this agreement, and where there is any reference to this agreement it
shall be deemed to include said Exhibits.

    

    20.  Governing
Law.  This agreement shall be governed by and construed in
accordance with the laws of the State of New York.  If any provisions
of this agreement shall be unenforceable or invalid, such unenforceability or
invalidity shall not affect the remaining provisions of this
agreement.

    

    21.  Binding
Effect.  This agreement shall not be considered an offer or an
acceptance of an offer by Seller, and shall not be binding upon Seller until
executed and delivered by both Seller and Purchaser.  Upon such
execution and delivery, this agreement shall be binding upon and inure to the
benefit of the parties hereto and their respective heirs, executors,
administrators, successors and permitted assigns.  This agreement may
be executed in counterparts.

    

    IN WITNESS WHEREOF, the
parties have executed this agreement as of the date first above
written.

    

    
      
        
          
            	
                     REFLECTKOTE,
      INC

                  
	 
      	 
      
	
                    By

                  	 
      
	 
      	
                    M.
      David Sayid, President

                  
	 
      	 
      
	
                     EXTREME
      MOBILE COATINGS WORLDWIDE CORP.

                  
	 
      	 
      
	
                    By

                  	 
      
	 
      	
                    Charles
      Woodward,
President

                  

          

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
A-1

    

    Patents

     

    
      a) 
 Patent
Application Number 61/132,569

    

     

    Filing
Date:  06/28/2008

     

    Confirmation
No.:  2571

     

    
      b)  
Patent
Application Number 61/273,098

    

     

    Filing
Date:  07/31/2009

     

    Confirmation
No.:  2776

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
B

    

    Existing
Indebtedness

     

    a)  Settlement
Agreement by and between RKTE (f/k/a HVAG), James Zimbler and Susan Zimbler vs.
Michael Margolies

     

    b)  Settlement
Agreement by and between RKTE (f/k/a HVAG), and James Zimbler vs. Stanley
Chason

     

    c)
RKTE Consent Order, Final Judgment with the SEC

     

    d)
RKTE Monetary Judgment with the SEC

     

    e)
State of Illinois- payroll taxes

     

    f)
State of Michigan – payroll taxes.

     

    g)
Amount due to Manhattan Transfer and Registrar

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
C

    

    BILL OF
SALE

    

    KNOW THAT, for valuable
consideration, Reflectkote, Inc, a Nevada corporation, having an address at 408
West 57th Street, Ste 8E, New York, NY  10019 (“Seller”), does hereby
grant, sell, transfer and assign unto Extreme Mobile Coatings Worldwide Corp., a
Delaware corporation, having an address at 126 Dewey Dr., Nicholasville,
KY  40356 (“Purchaser”), all right, title and interest of Seller in
and to the assets of the business known as Reflectkote, more particularly
described in Exhibit A attached hereto and made a part hereof,

    

    TO HAVE AND TO HOLD the same
unto Purchaser and the heirs, executors, administrators, successors and assigns
of Purchaser forever.

    

    IN WITNESS WHEREOF, Seller has
duly executed this Bill of Sale as of March 10, 2010.

    

    
      
        
          	
                  REFLECTKOTE,
      INC

                
	 
      	 
      
	
                  By

                	 
      
	 
      	
                  M.
      David Sayid,
President

                

        

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
D

    

    Judgments, Actions And
ProceedingsUnassociated Document

     

    SECOND AMENDMENT TO LOAN
AGREEMENT

     

    This Second Amendment to Loan Agreement
(this “Amendment”), dated as
of March 9, 2010, by and among GOLDMAN SACHS MORTGAGE COMPANY, a New York
limited partnership (“GSMC”) and
successor-in-interest to Goldman Sachs Commercial Mortgage Capital, L.P.,
CITICORP NORTH AMERICA, INC., a New York corporation (“Citigroup”), and SL
GREEN REALTY CORP., a Maryland corporation (“SL Green”, and
together with GSMC, Citigroup and their respective successors and assigns,
collectively, “Lender”), as lender,
and each of the entities listed as a “Borrower” on the signature pages hereto,
collectively, jointly and severally, together with their respective permitted
successors and assigns, “Borrower”), amends
that certain Loan Agreement, dated as of April 1, 2008, as amended by that
certain Amendment to Loan Agreement, dated as of  August 22, 2008 (the
“Loan
Agreement”; all capitalized terms used but not defined herein shall have
the respective meanings given such terms in the Loan Agreement).

    

    WHEREAS,
Lender and Borrower desire to further amend the Loan Agreement with respect to
the matters set forth herein.

     

    NOW
THEREFORE, in consideration of the mutual premises contained herein and other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto hereby represent, warrant, covenant and agree
as follows:

     

    Section
1.      Amendments of Loan
Agreement.  Lender and Borrower hereby agree to amend the terms
of the Loan Agreement as hereinafter set forth:

     

    (a)           The
defined term “LIBOR Strike Rate” is hereby deleted in its entirety and the
following is inserted in lieu thereof:

     

    ““LIBOR Strike Rate”
means (1) with respect to the Initial Interest Rate Cap Agreement, 5.25%; and
(2) with respect to any Extension Interest Rate Cap Agreement,
6.00%.”

     

    (b)           The
defined term “Major Lease” is hereby deleted in its entirety and the following
is inserted in lieu thereof:

     

    ““Major Lease” means
any Lease which (i) when aggregated with all other Leases at the applicable
Property with the same Tenant (or affiliated Tenants), and assuming the exercise
of all expansion rights and all preferential rights to lease additional space
contained in each such Lease, is expected to contribute more than 15% of Net
Operating Income during any 12-month period (after adjustment to eliminate the
effect of free rent periods), (ii) is with an Affiliate of Borrower as Tenant,
(iii) requires an expenditure by landlord of $1,000,000 or more with respect to
Tenant Improvements and/or Leasing Commissions applicable to such Lease, or (iv)
is entered into during the continuance of an Event of Default.”

     

    (c)           The
following definitions are hereby inserted in the “DEFINITIONS” section of the
Loan Agreement in alphabetical order:

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    ““Permitted
Distributions” means:

     

     (1)
a single distribution from the Qualified Operating Account to reimburse Sponsor
for costs and expenses related to compliance with Section 1.2(b) of the
Loan Agreement, the Mezzanine Loan Agreement and the Junior Mezzanine Loan
Agreement and the related amendments of such loan agreements, provided that such
distribution does not cause the amount contained in the Qualified Operating
Account to be less than $5,000,000; and

     

    (2)
without regard to the distribution described in preceding clause (1),
distributions from the Qualified Operating Account, to the extent such
distributions (i) do not exceed $2,500,000 per Fiscal Quarter in the aggregate,
and (ii) are used solely for the purpose payment (or reimbursement) of corporate
overhead actually incurred and allocated to AFRT.”

     

    ““Qualified Operating
Account” means the account identified as follows:

     

    
      
        
          
            
              	
                      Account
      Holder

                    	
                      First
      States Group

                      680
      Old York Road

                      Jenkintown,
      PA 19046

                    
	 	 
	
                      Bank

                    	
                      Wachovia
      Bank N.A.

                    
	 	 
	
                      Account
      Number

                    	
                      2000011520836

                    
	 	 
	
                      ABA
      Number

                    	
                      031
      201 467”

                    

            

          

        

      

    

     

    ““Qualified Operating Account
Control Agreement” means an agreement relating to the Qualified Operating
Account, among Mezzanine Lender, Junior Mezzanine Lender, the holder of such
account and the Eligible Institution at which such account is maintained,
pursuant to which such account is pledged to Mezzanine Lender and Junior
Mezzanine Lender and Borrower is given full access to the funds on deposit
therein but provides for the discontinuance of such access upon receipt by such
Eligible Institution of written notice from Servicer of the occurrence and
continuance of a Mezzanine Loan Event of Default, as such agreement may be
amended, modified, supplemented, or replaced in accordance
herewith.”

     

    (d)                  
Section 3.2(a) of the Loan Agreement is hereby modified by deleting the last
sentence thereof.

     

    (e)                   The
following is hereby inserted immediately following Section 3.6 of the Loan
Agreement:

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    “3.7.  Qualified Operating Account;
No Distributions.   Borrower shall cause the Qualified
Operating Account to be maintained at all times.  Borrower shall (i)
cause all amounts payable with respect to operating expenses for the Properties
to be paid exclusively from the Qualified Operating Account or a Collateral
Account and no other account, (ii) not permit excess cash attributable to the
Properties to be contained in any account other than the Qualified Operating
Account or a Collateral Account, and (iii) not permit the amounts contained in
the Qualified Operating Account to be used for any purpose other than in
connection with the Properties and the making of Permitted
Distributions.  Borrower shall not permit any distributions, transfers
or disbursements to be made from the Qualified Operating Account (or any other
account containing funds related to the Properties and/or the operations of
American Financial Realty Trust) to direct or indirect equityholders in Junior
Mezzanine Borrower, except for Permitted Distributions.  In the event
that any distribution described in clause (2) of the definition of “Permitted
Distribution” shall be in excess of the amount required to pay the corporate
overhead of American Financial Realty Trust for the period for which such
Permitted Distribution was made (as a result of such overhead being less than
the amount budgeted therefor), Borrower shall cause such excess to be promptly
returned to the Qualified Operating Account.  Borrower shall deliver
to Lender each month the monthly bank statement related to the Qualified
Operating Account.”

     

    (g)                  
Section 5.14 of the Loan Agreement is hereby modified by inserting the following
immediately after clause (iii) thereof:

     

    “Notwithstanding
anything to the contrary contained in this Section 5.14, from
and after the first day of the Extension Term, without further request from
Lender, Borrower shall deliver to Lender the monthly reports described in this
Section 5.14
for each month until the Indebtedness has been repaid in full.  All
such reports shall include, in addition to the information described above,
monthly cash flow statements tied to bank statements, including a reconciliation
of beginning cash balances to ending cash balances (including, without
limitation, a reconciliation of the Qualified Operating Account as to income
from rents, operating expenses, Tenant Improvements and Leasing Commissions,
Permitted Distributions and such other items as Lender shall reasonably
request).”

     

    (h)                   The
following Section 5.21 is hereby inserted immediately following Section 5.20 of
the Loan Agreement:

     

    “5.20.  Business
Plan.  Within 90 days after the first day of the Extension
Term, Borrower shall deliver to Lender a comprehensive long-term business plan
and restructuring proposal addressing repayment of the Loan, in each case, in a
format, and containing a level of detail, reasonably acceptable to
Lender.  Such comprehensive long-term business plan and restructuring
proposal shall include, without limitation, (i) income statements, balance
sheets and cash flow statements for the Properties as a whole, as well as profit
and loss statements for each individual Property, in each case, prepared in
accordance with GAAP, (ii) individual Property-level projections, projected rent
rolls and such other projections as Lender shall reasonably request, (iii) a
detailed narrative as to all material operating, balance sheet and financing
assumptions and (iv) such other reports and components as Lender shall
reasonably request.  To the extent applicable, the foregoing shall be
presented on a monthly basis for the first 12 months of the period covered by
such plans and on an annual basis for the remainder of the period covered by
such plans.”

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    Section
2.  Conditions
Precedent.  Contemporaneously with the execution and delivery
of this Amendment, Borrower shall comply with the conditions set forth in
Section 1.2(b) of the Loan Agreement, as modified by this Amendment (Lender
hereby acknowledging satisfaction of clause (i) thereof).  In
addition, the effectiveness of this Amendment is subject to the satisfaction of
the following conditions:

     

    (a)           On
the effective date of this Amendment, the Qualified Operating Account shall
contain no less than $5,000,000, and Borrower shall have delivered to Lender
reasonably satisfactory evidence thereof.

     

    (b)           Borrower
shall have paid or reimbursed Lender for all of its out-of-pocket costs and
expenses (including, without limitation, reasonable out-of-pocket legal fees)
related to the negotiation, execution and delivery of this Amendment and the
commencement of the Extension Term.

     

    (c)           Borrower
shall have delivered a fully executed copy of this Amendment to
Lender.

     

    Section
3.  Miscellaneous.

     

    (a)           All
of the terms and conditions of the Loan Agreement are incorporated herein by
reference with the same force and effect as if fully set forth
herein.  Except as expressly amended hereby, the Loan Agreement and
each of the other Loan Documents remains in full force and effect in accordance
with its terms.  For the avoidance of doubt, Borrower and Lender
acknowledge and agree that (i) subject to the satisfaction of the conditions set
forth in Section
2 hereof, the Maturity Date shall be the Payment Date in March 2011 or
such earlier date as may result from acceleration and (ii) Borrower has no
further options to extend the Maturity Date of the Loan.

     

    (b)           This
Amendment shall be governed by and construed and interpreted in accordance with
the laws of the State of New York, without regard to principles of conflicts of
law.

     

    (c)           Borrower
hereby (1) unconditionally ratifies and confirms, renews and reaffirms all
of its obligations under the Loan Agreement and each of the other Loan
Documents, (2) acknowledges and agrees that such obligations remain in full
force and effect, binding on and enforceable against it in accordance with the
terms, covenants and conditions of the Loan Agreement as amended hereby and the
other Loan Documents, in each case, without impairment, and (3) represents,
warrants and covenants that it is not in default under the Loan Agreement or any
of the other Loan Documents beyond any applicable notice and cure periods, and
there are no defenses, offsets or counterclaims against the
Indebtedness.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    (d)           Sponsor
hereby (1) unconditionally approves and consents to the execution by
Borrower of this Amendment and the modifications to the Loan Documents effected
thereby, (2) unconditionally ratifies, confirms, renews and reaffirms all of its
obligations under the Guaranty, the Environmental Indemnity and Cooperation
Agreement (the “Sponsor Documents”),
(3) acknowledges and agrees that its obligations under the Sponsor
Documents remain in full force and effect, binding on and enforceable against it
in accordance with the terms, covenants and conditions of such documents without
impairment, and (4) represents, warrants and covenants that it is not in
default under any Sponsor Document beyond any applicable notice and cure
periods, and there are no defenses, offsets or counterclaims against its
obligations under the Sponsor Documents.

     

    (e)           Whole
Loan Guarantor (1) unconditionally approves and consents to the execution
by Borrower of this Amendment and the modifications to the Loan Documents
effected thereby, (2) unconditionally ratifies, confirms, renews and reaffirms
all of its obligations under the Whole Loan Guaranty, (3) acknowledges and
agrees that its obligations under the Junior Mezz Guaranty remain in full force
and effect, binding on and enforceable against it in accordance with the terms,
covenants and conditions of such documents without impairment, and
(4) represents, warrants and covenants that it is not in default under the
Whole Loan Guaranty beyond any applicable notice and cure periods, and there are
no defenses, offsets or counterclaims against its obligations under the Whole
Loan Guaranty.

     

    (f)           Borrower
acknowledges and agrees that no oral communication or course of dealing from or
on behalf of Lender shall constitute any waiver, agreement, commitment, or
evidence of any assurance or intention of Lender with respect to the Loan, the
Loan Agreement and/or the other Loan Documents, and that any waiver, agreement,
commitment, assurance, or intention of Lender with respect to the Loan, the Loan
Agreement and/or the other Loan Documents shall be effective only if in writing
and duly executed by Lender.  Borrower acknowledges and agrees that no
Default or Event of Default shall be waived by Lender, unless such waiver is in
writing and duly executed by Lender.

     

    (g)           This
Amendment may be executed by facsimile signatures and in any number of
counterparts and by different parties hereto in separate counterparts, each of
which when so executed and delivered shall be deemed an original, but all of
which counterparts together shall constitute but one and the same
instrument.

     

    (h)           Lender
hereby consents to the execution of that certain Amendment to Amended and
Restated Senior Mezzanine Loan Agreement and that certain Amendment to Junior
Mezzanine Loan Agreement, each dated as of the date hereof.  The
Mezzanine Lender and Junior Mezzanine Lender may rely on such consent for
purposes of any applicable intercreditor or co-lender agreement, and the
Mezzanine Lender may rely on such consent for the purposes of any applicable
loan repurchase agreement.

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    [Signatures
appear on following page]

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    IN
WITNESS WHEREOF, for good and valuable consideration, the sufficiency of which
is hereby acknowledged and agreed, the parties hereto have executed and
delivered this Amendment as of the date first hereinabove set
forth.

     

    
      
        
          
            
              
                
                  	 
      	
                          BORROWER:

                        
	 
      	 
      
	 
      	
                          The
      entities listed on Schedule A to this

                        
	 
      	
                          signature
      page

                        
	 
      	 
      
	 
      	
                          By:

                        	
                          /s/ Timothy J. O'Connor

                        
	 
      	 
      	
                          Name:
      Timothy J. O'Connor

                        
	 
      	 
      	
                          Title:
      President

                        
	 
      	 
      
	 
      	
                          Solely
      with respect to Section 3(d)
      hereof:

                        
	 
      	 
      
	 
      	
                          SPONSOR:

                        
	 
      	 
      
	 
      	
                          GRAMERCY
      CAPITAL CORP., a Maryland

                        
	 
      	
                          corporation

                        
	 
      	 
      
	 
      	
                          By:

                        	
                          /s/ Timothy J. O'Connor

                        
	 
      	 
      	
                          Name:
      Timothy J. O'Connor

                        
	 
      	 
      	
                          Title:
      President

                        
	 
      	 
      
	 
      	
                          Solely
      with respect to Section 3(e)
      hereof:

                        
	 
      	 
      
	 
      	
                          WHOLE LOAN GUARANTOR:

                        
	 
      	 
      
	 
      	
                          GKK
      STARS JUNIOR MEZZ 1 LLC, a Delaware

                        
	 
      	
                          limited
      liability company

                        
	 
      	 
      
	 
      	
                          By:

                        	
                          /s/ Timothy J. O'Connor

                        
	 
      	 
      	
                          Name:
      Timothy J. O'Connor

                        
	 
      	 
      	
                          Title:
      President

                        

                

              

            

          

        

      

    

    

    [Signatures continued on following
page]

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        
          	 
      	
                  LENDER:

                
	 
      	 
      
	 
      	
                  GOLDMAN
      SACHS MORTGAGE COMPANY, a

                
	 
      	
                  New
      York limited partnership

                
	 
      	 
      
	 
      	
                  By:

                	
                  Goldman
      Sachs Real Estate Funding

                
	 
      	 
      	
                  Corp.,
      its general partner

                
	 
      	 
      	 
      
	 
      	 
      	
                  By:

                	
                  /s/ Mark Buono

                
	 
      	 
      	 
      	
                  Name:
      Mark Buono

                
	 
      	 
      	 
      	
                  Title:
      Authorized Signatory

                
	 
      	 
      
	 
      	
                  CITICORP
      NORTH AMERICA, INC., a New York

                  corporation

                
	 
      	 
      
	 
      	
                  By:

                	
                  /s/ Michael M. Schadt

                
	 
      	 
      	
                  Name:
      Michael M. Schadt

                
	 
      	 
      	
                  Title:
      Director

                
	 
      	 
      
	 
      	
                  SL
      GREEN REALTY CORP., a Maryland

                  corporation

                
	 
      	 
      
	 
      	
                  By:

                	
                  /s/ Andrew S. Levine

                
	 
      	 
      	
                  Name:
      Andrew S. Levine

                
	 
      	 
      	
                  Title:
      Executive Vice
President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00170-of-00352.parquet"}]]