Document:

Unassociated Document

     

    Exhibit
      10.2

     

    Execution
      Copy

    MANAGEMENT
      AGREEMENT

     

    THIS
      MANAGEMENT AGREEMENT (this “Management Agreement”) is
      dated as of August 10, 2007 and entered into by and between Net Lease Strategic
      Assets Fund L.P., a Delaware limited partnership (the
“Partnership”), and Lexington Realty Advisors, Inc., a Delaware
      corporation (the “Asset Manager”).

     

    WHEREAS,
      the Partnership owns or will own net-leased real estate assets in the United
      States of America (collectively, the “Qualified Assets”);
      and

     

    WHEREAS,
      the Partnership desires to have the Asset Manager undertake the duties and
      responsibilities hereinafter set forth.

     

    NOW,
      THEREFORE, in consideration of the premises and the agreements,
      provisions and covenants herein contained, the Partnership and the Asset Manager
      agree as follows:

     

    1.           Definitions.  Unless
      otherwise defined herein, capitalized terms used in this Management Agreement
      shall have the meanings ascribed to such terms in that certain Limited
      Partnership Agreement of the Partnership dated as of even date herewith among
      The Lexington Master Limited Partnership, a Delaware limited partnership
      (“LMLP”), as a limited partner of the Partnership, LMLP GP LLC,
      a Delaware limited liability company (“LMLP GP”, and together
      with LMLP, collectively, the “LMLP Partners”), as a general
      partner of the Partnership, Inland American (Net Lease) Sub, LLC, a Delaware
      limited liability company (“Inland”), as a limited partner of
      the Partnership (as such limited partnership agreement may be amended, restated,
      supplemented or otherwise modified from time to time in accordance with the
      terms thereof, the “Partnership Agreement”).

     

    2.           Obligations
      of the Asset Manager.  The Asset Manager shall perform on behalf
      of the Partnership those duties and responsibilities of the General Partner
      in
      respect of the evaluation of Proposed Qualified Assets and the acquisition
      of
      Approved Qualified Assets as contemplated by Section 3.6 of the Partnership
      Agreement, and in respect of the management of the Qualified Assets that may
      be
      delegated to the Asset Manager pursuant to Section 3.1(c) of the Partnership
      Agreement.  With respect to the management of the Qualified Assets,
      the Asset Manager shall perform the duties and responsibilities described in
      Appendix 1 attached hereto and made a part hereof.  In
      performing its duties and responsibilities, the Asset Manager shall not, and
      shall have no power or authority to, (i) bind the Partnership, or to enter
      into
      any contract or other agreement in the name of or on behalf of the Partnership,
      unless specifically authorized in writing to do so by the Partnership, (ii)
      amend, cancel or alter any of the organizational documents of the Partnership,
      or (iii) do any act not authorized pursuant to this Management Agreement, unless
      specifically authorized to do so in writing by the Partnership or specifically
      authorized to do so by the Partnership Agreement.

     

    3.           No
      Partnership or Joint Venture.  The Partnership and the Asset
      Manager are not partners or joint venturers with each other and the terms of
      this Management Agreement shall not be construed so as to make them such
      partners or joint venturers or impose any liability as such on either of
      them.

     

    
      
         

      

      
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    4.           Limitation
      on the Asset Manager’s Liability.  The Asset Manager and its
      directors, officers and employees shall not be liable, responsible or
      accountable in damages or otherwise to the Partnership or either Partner for
      (a)
      any loss or liability arising out of any act or omission by the Asset Manager
      so
      long as any such act or omission did not constitute (i) a breach of this
      Management Agreement or of the Partnership Agreement and, if capable of cure,
      is
      not cured within fifteen (15) days after notice thereof is delivered to the
      Asset Manager by the Partnership, (ii) gross negligence or willful misconduct
      or
      (iii) fraud or bad faith on the part of the Asset Manager or (b) any acts or
      omissions by third parties selected by the Asset Manager in good faith and
      with
      reasonable care to perform services for the Partnership.

     

    5.           Partnership’s
      Professional Services.  The Partnership may independently retain
      legal counsel and accountants to provide such legal and accounting advice and
      services as the Partnership shall deem necessary or appropriate.

     

    6.           Expenses
      of the Asset Manager and the Partnership.

     

    (a)           The
      Asset Manager shall pay, without reimbursement by the Partnership (i) the
      salaries of all of its officers and regular employees and all employment
      expenses related thereto, (ii) general overhead expenses, (iii) record-keeping
      expenses, (iv) the costs of the office space and facilities which it requires,
      (v) the costs of such office space and facilities as the Partnership reasonably
      requires, (vi) all out of pocket costs and expenses incurred in connection
      with
      the management of the Qualified Assets and the Partnership (other than
      reasonable and customary costs and expenses of Third Parties retained in
      connection with the management of the Qualified Assets and the Partnership)
      and
      (vii) costs and expenses relating to Acquisition Activities as set forth in
      and
      limited by Section 3.6(f) of the Agreement.

     

    (b)           The
      Asset Manager shall either pay directly from a Partnership account or pay from
      its own account and be reimbursed by the Partnership for the following
      Partnership costs and expenses that are incurred by the Partnership or by the
      Asset Manager in the performance of its duties under this Management Agreement
      or the Partnership Agreement:

     

    (i)           Permitted
      Expenses;

     

    (ii)           subject
      to Section 3.6(f) of the Partnership Agreement, all reasonable and customary
      costs and expenses relating to Third Parties retained in connection with a
      Proposed Qualified Asset or an Approved Qualified Asset as provided in Section
      3.6(f) of the Partnership Agreement.

     

    The
      Asset
      Manager shall not pay or be reimbursed by the Partnership for any other cost
      or
      expense.

    (c)           Except
      as expressly otherwise provided in this Management Agreement or the Partnership
      Agreement, the Partnership shall directly pay all of its own expenses, and
      without limiting the generality of the foregoing, it is specifically agreed
      that
      the following expenses shall be borne directly by the Partnership and not be
      paid by the Asset Manager:

     

    (i)           interest,
      principal or any other cost of money borrowed by the Partnership;

     

    
      
         

      

      
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    (ii)           fees
      and expenses paid to independent contractors, appraisers, consultants and other
      agents retained by or on behalf of the Partnership and expenses directly
      connected with the financing, refinancing and disposition of real estate
      interests or other assets (including insurance premiums, legal services,
      brokerage and sales commissions, maintenance, repair and improvement costs
      and
      expenses related to the Qualified Assets); and

     

    (iii)           insurance
      as required by the Partnership.

     

    7.           Indemnification
      by the Partnership. The Partnership shall indemnify, defend and hold
      harmless the Asset Manager and its directors, officers and employees (the
“Asset Manager Indemnitees”) by reason of any act or omission
      or alleged act or omission arising out of the Asset Manager’s activities as the
      Asset Manager on behalf of the Partnership, against personal liability, claims,
      losses, damages and expenses for which the Asset Manager Indemnitees have not
      otherwise been reimbursed by insurance proceeds or otherwise (including
      attorneys’ fees, judgments, fines and amounts paid in settlement) actually and
      reasonably incurred by the Asset Manager Indemnitees in connection with such
      action, suit or proceeding and any appeal therefrom, unless the Asset Manager
      Indemnitees (A) acted fraudulently, in bad faith or with gross negligence or
      willful misconduct or (B) by such act or failure to act breached any covenant
      contained in this Management Agreement and, if capable of cure, is not cured
      within fifteen (15) days after notice thereof from the
      Partnership.  The indemnification provided under this Section 7
      shall (x) be in addition to, and shall not limit or diminish, the coverage
      of
      the Asset Manager under any insurance maintained by the Partnership and (y)
      apply to any legal action, suit or proceeding commenced by a Partner or in
      the
      right of a Partner or the Partnership. The indemnification provided under this
      Section 7 shall be a contract right and shall include the right to be
      reimbursed for reasonable expenses incurred by the Asset Manager within thirty
      (30) days after such expenses are incurred.

     

    8.           Terms
      and Termination.  This Management Agreement shall remain in force
      until terminated in accordance herewith.  This Management Agreement
      may be terminated by the Partnership at any time and for any reason immediately
      upon written notice of termination from the Partnership to the Asset
      Manager.  This Management Agreement shall automatically expire upon
      (i) the removal of LMLP GP as the General Partner of the Partnership or (ii)
      the
      completion of dissolution or winding up of the Partnership pursuant to Section
      9.2 of the Partnership Agreement.  This Management Agreement shall
      also terminate upon any of the following:

     

    (a)           The
      Asset Manager shall be adjudged bankrupt or insolvent by a court of competent
      jurisdiction or an order shall be made by a court of competent jurisdiction
      for
      the appointment of a receiver, liquidator or trustee of the Asset Manager or
      of
      all or substantially all of its assets by reason of the foregoing, or approving
      any petition filed against the Asset Manager for reorganization, and such
      adjudication or order shall remain in force and unstayed for a period of 30
      days.

     

    (b)           The
      Asset Manager shall institute proceedings for voluntary bankruptcy or shall
      file
      a petition seeking reorganization under the Federal Bankruptcy Code, for relief
      under any law for relief of debtors, or shall consent to the appointment of
      a
      receiver for

     

    
      
         

      

      
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    itself
      or
      for all or substantially all of its assets, or shall make a general assignment
      for the benefit of its creditors, or shall admit in writing its inability to
      pay
      its debts generally as they become due.

     

    (c)           With
      respect to any Qualified Asset, upon the sale or disposition
      thereof.

     

    9.           Action
      Upon Termination.  After the expiration or termination of this
      Management Agreement, the Asset Manager shall:

     

    (a)           Promptly
      pay to the Partnership or any person legally entitled thereto all monies
      collected and held for the account of the Partnership pursuant to this
      Management Agreement, after deducting any compensation and reimbursement for
      its
      expenses which it is then entitled to receive pursuant to the terms of this
      Management Agreement.

     

    (b)           Within
      90 days deliver to the Partnership a full account, including a statement showing
      all amounts collected by the Asset Manager and a statement of all monies
      disbursed by it, covering the period following the date of the last accounting
      furnished to the Partnership.

     

    (c)           Within
      ten (10) days deliver to the Partnership all assets and documents of the
      Partnership then in the custody of the Asset Manager.

     

    Upon
      termination of this Management Agreement, the Asset Manager shall be entitled
      to
      receive payment for any expenses and fees (including without limitation the
      Property Management Fee and the Partnership Management Fee which shall be
      prorated on a daily basis) as to which at the time of termination it has not
      yet
      received payment or reimbursement, as applicable, pursuant to Section 6
      and Section 10 hereof, less any damages to the Partnership caused by the
      Asset Manager.

     

    10.           Management
      Fees.

     

    (a)           Property
      Management Fee.  For all services hereunder (including leasing and
      leasing supervision), the Partnership shall pay to the Asset Manager (or its
      designee) an annual Property Management Fee (“Property Management
      Fee”) equal to the sum of (x) three percent (3%) of actual gross
      revenues for the fiscal year (or applicable portion thereof) derived from
      Qualified Assets, provided the lease encumbering the Qualified Asset provides
      for full recovery of the Property Management Fee from the tenant (“Gross
      Revenues”), plus (y) on Qualified Assets where the lease does not
      provide for full recovery of the Property Management Fee from the tenant, the
      amount recoverable for the fiscal year (or applicable portion thereof) from
      the
      tenants of such Qualified Assets for property management expenses under such
      leases (“Recoverable Amounts”), payable monthly.

     

    (b)           Partnership
      Management Fee.  The Partnership shall pay to the Asset Manager an
      annual Partnership Management Fee (“Partnership Management
      Fee”) equal to Inland’s Percentage Interest multiplied by three hundred
      seventy five thousandths of a percent (0.375%) of the Equity Capital for a
      fiscal year (pro rated for partial years), payable monthly and adjusted as
      provided herein.  Within thirty (30) days of the Partnership’s receipt
      of

     

    
      
         

      

      
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    the
      annual reports described in Section 4.3 of the Partnership Agreement
      for a fiscal year, the Asset Manager shall provide to the Partnership a written
      statement of reconciliation setting forth (x) the Equity Capital for such
      fiscal year (or partial year) and the Partnership Management Fee payable to
      the
      Asset Manager in connection therewith, pursuant to this Agreement, (y) the
      Partnership Management Fee already paid by the Partnership to the Asset Manager
      during such fiscal year (or partial year), and (z) either the amount owed
      to the Asset Manager by the Partnership (which shall be the excess, if any,
      of
      the Partnership Management Fee payable to the Asset Manager for such fiscal
      year
      (or partial year) pursuant to this Agreement over the Partnership Management
      Fee
      actually paid by the Partnership to the Asset Manager for such fiscal year
      (or
      partial year)) or the amount owed to the Partnership by the Asset Manager (which
      shall be the excess, if any, of the Partnership Management Fee actually paid
      by
      the Partnership to the Asset Manager for such fiscal year (or partial year)
      over
      the Partnership Management Fee payable to the Asset Manager for such fiscal
      year
      pursuant to this Agreement).  The Asset Manager or the Partnership, as
      the case may be, shall pay to the other the amount owed pursuant to clause
      (z)
      above within five (5) Business Days of the receipt by Inland of the written
      statement of reconciliation described in this Section 10.

     

    (c)           Acquisition
      Fees.  Upon the acquisition of any Approved Qualified Asset by the
      Partnership or by an SP Subsidiary (including any Approved Qualified Asset
      contributed in whole or in part by LMLP to the Partnership), Inland shall pay
      the Asset Manager an acquisition fee equal to the sum of the gross purchase
      price of such acquired Approved Qualified Asset multiplied by
      0.425%.

     

    11.           Assignment.  The
      Asset Manager may not assign or delegate any of its rights or obligations
      hereunder, except the Asset Manager may assign or delegate any of its rights
      or
      obligations hereunder to Lexington Contributions Inc., a Delaware
      corporation.

     

    12.           Notices.  Unless
      otherwise specifically provided herein, any notice or other communication
      required herein shall be given in accordance with the Partnership
      Agreement.

     

    13.           Amendments
      and Waivers.  No amendment, modification, termination or waiver of
      any provision of this Management Agreement shall in any event be effective
      without the written concurrence of the Partnership.  Any waiver or
      consent shall be effective only in the specific instance and for the specific
      purpose for which it was given.

     

    14.           Governing
      Law.  THIS MANAGEMENT AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF
      THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED
      IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF DELAWARE, WITHOUT REGARD
      TO CONFLICTS OF LAWS PRINCIPLES.

     

    15.           Entire
      Agreement.  This Management Agreement embodies the entire
      agreement of the parties with respect to the subject matter hereof and
      supersedes all prior agreements, written and oral, relating to the subject
      matter hereof.

     

    
      
         

      

      
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    16.           Severability.  In
      case any provision in or obligation under this Management Agreement shall be
      invalid, illegal or unenforceable in any jurisdiction, the validity, legality
      and enforceability of the remaining provisions or obligations, or of such
      provision or obligation in any other jurisdiction, shall not in any way be
      affected or impaired thereby.

     

    17.           No
      Waiver, etc.  No waiver by the Partnership of any default
      hereunder shall be effective unless such waiver is in writing and executed
      by
      the Partnership nor shall any such written waiver operate as a waiver of any
      other default or of the same default on a subsequent
      occasion.  Furthermore, the Partnership shall not, by any act, delay,
      omission or otherwise, be deemed to have waived any of its rights, privileges
      and/or remedies hereunder, and the failure or forbearance of the Partnership
      on
      one occasion shall not prejudice or be deemed or considered to have prejudiced
      its right to demand such compliance on any other occasion.

     

    18.           No
      Third Party Beneficiary.  The Asset Manager is not a third party
      beneficiary of the Partnership Agreement and shall have no rights or remedies
      thereunder, and the parties to the Partnership Agreement can amend, modify
      or
      terminate the Partnership Agreement at any time without the Asset Manager’s
      consent and without any liability to the Asset Manager.

     

    19.           Jurisdiction;
      Venue. Each party hereto hereby irrevocably and unconditionally (a) agrees
      that any action, suit or other legal proceeding brought in connection with
      or
      relating to this Agreement or any matter contemplated hereby shall be brought
      exclusively in a court of competent jurisdiction located in New Castle County,
      Delaware, whether a state or federal court, and shall not be brought in any
      court or forum outside New Castle County, Delaware; (b) consents and submits
      to,
      and agrees that it will not assert (by way of motion, as a defense or otherwise)
      that it is not subject to, personal jurisdiction in connection with any such
      action, suit or proceeding in any such court; and (c) waives to the fullest
      extent permitted by law, and agrees that it will not assert (by way of motion,
      as a defense or otherwise), any claim that the laying of venue of any such
      action, suit or proceeding in any such court is improper or that any such
      action, suit or proceeding brought in any such court was brought in an
      inconvenient forum or should be stayed by reason of the pendency of some other
      action, suit or other legal proceeding in a court or forum other than any such
      court.

     

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    IN
      WITNESS WHEREOF, the parties hereto have caused this Management
      Agreement to be duly executed and delivered by their respective officers
      thereunto duly authorized as of the date first written above.

     

    
      	PARTNERSHIP	NET
              LEASE
              STRATEGIC ASSETS FUND L.P., a Delaware limited
              partnership
	 	 	 
	 	By:	LMLP
              GP LLC, a Delaware limited liability company, the general
              partn
	 	 	 
	 	 	 
	
               

            	
              By:
                

            	/s/ 
T.
              Wilson Eglin
	 	 	Name: 
T.
              Wilson Eglin
	 	 	Title: 
              President
	 	 	 

    

     

    
      	ASSET
              MANAGER	LEXINGTON
              REALTY ADVISORS, INC.
	 	 	 
	 	 	 
	
               

            	
              By:
                

            	/s/ 
T.
              Wilson Eglin
	 	 	Name: 
T.
              Wilson Eglin
	 	 	Title: 
              President
	 	 	 

       

    

     

     

    
      	
              Solely
                with respect to Section
                10(c):

            

    

     

    
      	
              INLAND
                AMERICAN (NET LEASE) SUB, LLC

               

              By:
                Inland American Real Estate Trust, Inc.

            
	 	 
	 	 
	
              By:
                

            	/s/ 
T.
              Lori
              Foust 
	 	Name: 
Lori
              Foust 
	 	Its: 
              Treasurer
	 	 

    

     

    The
      undersigned hereby unconditionally and irrevocably guarantees the obligations
      of
      Inland American (Net Lease) Sub, LLC under Section 10(c):

     

    
      	
              INLAND
                AMERICAN REAL ESTATE TRUST,
                INC.

            
	 	 
	 	 
	
              By:
                

            	/s/ 
T.
              Lori
              Foust 
	 	Name: 
Lori
              Foust 
	 	Its: 
              Treasurer
	 	 

    

    
      
         

      

      
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    APPENDIX
      1

     

    

     

    PROPERTY
      MANAGEMENT RESPONSIBILITIES

     

    The
      Asset
      Manager shall perform its duties and obligations under Section 2 of
      the Management Agreement with respect to the management of the Qualified Assets
      in accordance with the following standards:

     

    1.           Management
      of the Qualified Assets.  Asset Manager shall devote its
      commercially reasonable efforts, consistent with first class professional
      management, to manage the Qualified Assets, and shall perform its duties with
      respect thereto under the Management Agreement in accordance with the
      Partnership Agreement and Annual Plan and in a reasonable, diligent and careful
      manner so as to manage and supervise the operation, maintenance, leasing and
      servicing of each Qualified Asset in a manner that is comparable to similar
      properties in the market area in which such Qualified Asset is
      located.  The services of Asset Manager hereunder are to be of a scope
      and quality not less than those generally performed by professional managers
      of
      other similarly situated properties in the market area in which each Qualified
      Asset is located.  Asset Manager shall make available to the
      Partnership the full benefit of the judgment, experience and advice of the
      members of Asset Manager’s organization and staff with respect to the policies
      to be pursued by the Partnership and will perform such services as may be
      requested by the Partnership within the scope of the Management Agreement in
      operating, maintaining, leasing, and servicing each Qualified
      Asset.

     

    2.           Specific
      Duties of Asset Manager.  Without limiting the duties and
      obligations of Asset Manager under any other provisions of the Management
      Agreement, Asset Manager shall have the following duties and perform the
      following services with respect to management of the Qualified
      Assets:

     

    2.1           Repairs
      and Maintenance.  In accordance with and subject to the
      Partnership Agreement and the Annual Plan, Asset Manager shall cause to be
      made,
      or ensure that the tenant makes, all repairs and shall cause to be performed,
      or
      ensure that the tenant performs, all maintenance on the buildings, appurtenances
      and grounds of each Qualified Asset as are required to maintain each Qualified
      Asset in such condition and repair (and in compliance with applicable codes)
      that is comparable to similarly situated properties in the market area in which
      such Qualified Asset is located, and such other repairs as may be required
      to be
      made under the leases governing each Qualified Asset. Asset Manager shall to
      the
      extent it deems necessary arrange for periodic inspections of the Qualified
      Assets by independent contractors.

     

    2.2           Leasing
      Supervision Activities.

     

    (a)           Leasing
      Supervision.  Asset Manager shall supervise all leasing
      activities, for the purpose of leasing the available space in the Qualified
      Assets to tenants upon such terms and conditions as shall be consistent with
      the
      Partnership Agreement and the Annual Plan.

     

    (b)           Generally.  In
      the performance of Asset Manager’s duties under this Section 2.2, Asset Manager
      shall (i) develop and coordinate advertising, marketing and

     

    
      
         

      

      
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    leasing
      plans for space at each Qualified Asset that is vacant or anticipated to become
      vacant; (ii) cooperate and communicate with leasing specialists, consultants
      and
      third-party brokers in the market, and solicit their assistance with respect
      to
      new tenant procurement; and (iii) notify the Partnership in writing of all
      offers for tenancy at each Qualified Asset which Asset Manager believes are
      made
      in good faith, including the identification and fee schedules of procuring
      brokers, if any.

     

    (c)           Negotiation
      of Leases.  Asset Manager shall negotiate all tenant leases,
      extensions, expansions and other amendments and related documentation on the
      Partnership’s behalf in accordance with the Partnership Agreement
      and  the Annual Plan. All such documentation shall be prepared at the
      Partnership’s expense by counsel acceptable to or designated by the Partnership,
      and shall be executed by the Partnership. The terms of all such documentation
      are to be approved by the Partnership pursuant to such reasonable procedures
      as
      may be requested by the Partnership from time to time. Notwithstanding the
      foregoing, (x) Asset Manager shall not, for any reason, have the power or
      authority to execute any such documentation on behalf of the Partnership or
      otherwise bind the Partnership without the Partnership’s prior written consent,
      and (y) the Partnership reserves the right to deal with any prospective tenant
      to procure any such lease, extension, expansion or other amendment or related
      documentation.

     

    (d)           Third
      Party Brokers.  Asset Manager shall encourage third-party real
      estate brokers to secure tenants for the Qualified Assets, and periodically
      notify such brokers of the spaces within the Qualified Assets that are available
      for lease.

     

    (e)           Compensation
      for Third-Party Brokers.  Asset Manager shall negotiate and enter
      into on behalf of the Partnership a commission agreement with third party
      brokers providing for a leasing commission to be paid at prevailing market
      rates, subject to prevailing market terms and conditions. Such leasing
      commission shall be paid by the Partnership.

     

    2.3           Rents,
      Billings and Collections.  Asset Manager shall be responsible for
      the monthly billing of rents and all other charges due from tenants to the
      Partnership with respect to each Qualified Asset.  Asset Manager shall
      use its commercially reasonable efforts to collect all such rents and other
      charges when due. Asset Manager shall notify the Partnership of all tenant
      defaults as soon as reasonably practicable after occurrence, and shall provide
      the Partnership with Asset Manager’s best judgment of the appropriate course of
      action in remedying such tenant defaults.

     

    2.4           Obligations
      Under Leases. Asset Manager shall supervise and use
      its commercially reasonable efforts to cause the Partnership to perform and
      comply, duly and punctually, with all of the obligations required  to
      be performed or complied with by the Partnership under all leases and all laws,
      statutes, ordinances, rules, permits and certificates of occupancy relating
      to
      the operation, leasing, maintenance and servicing of the Qualified Assets,
      including, without limitation, the timely payment by the Partnership of all
      sums
      required to be paid thereunder.

     

    
      
         

      

      
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    2.5           The
      Partnership’s Insurance.  The Asset Manager shall cause to be
      placed and kept in force all forms of insurance required by the Partnership
      Agreement and the Annual Plan or required by any mortgage, deed of trust or
      other security agreement covering all or any part of any Qualified
      Asset.  The Asset Manager is to be named as an additional insured on
      the general liability policies in its capacity as managing agent. All such
      insurance coverage shall be placed through insurance companies and brokers
      selected or approved by the Partnership, with limits, values and deductibles
      established by the Partnership and with such beneficial interests appearing
      therein as shall be acceptable to the Partnership and otherwise be in conformity
      with the requirements of the Partnership Agreement and the Annual
      Plan.  Should the Partnership elect to place such insurance coverage
      directly, the Asset Manager shall be named as an additional insured on the
      general liability policies in its capacity as managing agent and the Partnership
      will provide the Asset Manager with a certificate of insurance evidencing such
      coverage. The Asset Manager shall duly and punctually pay on behalf of the
      Partnership with funds provided by the Partnership all premiums with respect
      thereto, prior to the time the policy would lapse due to nonpayment. If any
      lease requires that a tenant maintain any insurance coverage, the Asset Manager
      shall use its commercially reasonable efforts to obtain insurance certificates
      annually, or more frequently, as required pursuant to the applicable leases,
      from each such tenant and review the certificates for compliance with the lease
      terms. If any lease requires the Partnership to provide insurance certificates
      to tenants thereunder, the Asset Manager shall obtain such insurance
      certificates from the Partnership, review the certificates for compliance with
      the lease terms, and provide a copy thereof to tenants in accordance with their
      respective leases.  The Asset Manager shall promptly investigate and
      make a full and timely written report to the insurance broker, with a copy
      to
      the Partnership, as to all accidents, claims or damage of which the Asset
      Manager has knowledge relating to the operation and maintenance of each
      Qualified Asset, any damage or destruction to each Qualified Asset, and the
      estimated cost of repair thereof, and shall prepare any and all reports required
      by any insurance company in connection therewith.  All such reports
      shall be filed timely with the insurance broker as required under the terms
      of
      the insurance policy involved.  The Asset Manager shall have no right
      to settle, compromise or otherwise dispose of any claims, demands or
      liabilities, whether or not covered by insurance, without the prior written
      consent of the Partnership, which consent may be withheld by the Partnership
      in
      its sole discretion.

     

    2.6           Insurance.

     

    (a)           The
      Asset Manager or the General Partner or LMLP will obtain and maintain on the
      Asset Manager’s behalf, at the Asset Manager’s or the General Partner’s or
      LMLP’s expense, the following insurance:

     

    (i)             Commercial
      Liability Insurance (Primary) written on an
      occurrence form is to have limits of not less than One Million Dollars
      ($1,000,000) per occurrence with a per location Aggregate of not less than
      Two
      Million Dollars ($2,000,000) (i.e. $1,000,000/$2,000,000). In addition to the
      stipulations outlined above, the insurance policy is to include coverage for
      Contractual Liability, Products-Completed Operations, Personal & Advertising
      Injury and will also cover injury to subcontractor's officers, employees,
      agents, subcontractors, invitees and guests and their personal property. The
      Partnership is to be endorsed as an additional insured on the Asset Manager's
      policy and such insurance will be endorsed as primary and
      non-contributory with any other insurance available to Partnership.

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    (ii)             Professional
      Liability insurance covering acts, errors or omissions of the Asset Manager
      shall be maintained with limits of not less than Two Million Dollars
      ($2,000,000) per occurrence. Coverage extensions shall include Blanket
      Contractual Liability. When policies are renewed or replaced, the policy
      retroactive date must coincide with the original inception date of the managers
      executed contract. A claims-made policy, which is not renewed or replaced,
      must
      have an extended reporting period of not less than two (2) years.

     

    (iii)             When
      any motor vehicles (owned, non-owned or hired) are used in connection with
      the
      services to be performed, the Asset Manager shall provide Comprehensive
      Automobile Liability Insurance with limits of not less than One Million Dollars
      ($1,000,000) per occurrence CSL, for bodily injury and property damage. The
      Partnership is to be endorsed as an additional insured on the Asset Manager's
      policy and such insurance will be endorsed as primary and non-contributory
      with
      any other insurance available to the Partnership.

     

    (iv)             Umbrella
      Liability coverage, if applicable, is to follow the form
      of the Primary Insurance requirements outlined above.

     

    (v)             Workers
      Compensation and Occupational Disease Insurance in accordance with the laws
      of
      the State of Illinois covering employees, directors, officers, commissioners
      and
      volunteers. Employer's Liability in an amount of not less than $1 MM/$1 MM/$1
      MM.

     

    (vi)             The
      Asset Manager shall provide Blanket Crime coverage covering all persons liable
      under this Agreement, against loss by dishonesty, robbery, burglary, theft,
      destruction or disappearance, computer fraud, credit card forgery and other
      related crime risks. The policy limit shall be written to cover losses in the
      amount of the maximum monies collected, received and/or in the Asset Manager's
      care at any given time.

     

    (vii)             When
      negligent, the Asset Manager shall be responsible for all loss or damage to
      Partnership’s property at replacement cost.

     

    (viii)             Any
      and all deductibles or self-insured retentions on referenced insurance coverages
      shall be borne by the Asset Manager.

     

    (ix)             All
      insurance carriers used by the Asset Manager must be licensed to conduct
      business in the State of New York and shall have a BEST Rating of not less
      than
      an "A". Proof of this coverage(s) is to be forwarded to the Partnership (with
      a
      copy to each Partner) in the form of a properly executed Certificate of
      Insurance.

     

    (b)           The
      Asset Manager shall require all subcontractors to carry, at a minimum, the
      following insurance, or the Asset Manager may provide the coverage for any
      or
      all of its subcontractors. The insurance carriers used must be licensed to
      conduct business in the State of New York and shall have a BEST Rating of not
      less than an "A".  Required Subcontractor Insurance Coverages are as
      follows:

     

    (i)           Workers
      Compensation and Occupational Disease Insurance shall be in accordance with
      the
      laws of the State of Illinois along with Employer's Liability in an amount
      of
      not less than $500,000/$500,000/$500,000.

     

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    (ii)           Commercial
      Liability Insurance (Primary) written on an occurrence form is to have limits
      of
      not less than One Million Dollars ($1,000,000) per occurrence with a per
      location Aggregate of not less than Two Million Dollars ($2,000,000) (i.e.
      $1,000,000/$2,000,000). In addition to the stipulations outlined above, the
      insurance policy is to include coverage for Contractual Liability,
      Products-Completed Operations, Personal & Advertising Injury and will also
      cover injury to subcontractor's officers, employees, agents, subcontractors,
      invitees and guests and their personal property. The Partnership is to be
      endorsed as an additional insured on the subcontractor's policy and such
      insurance will be endorsed as primary and non-contributory with any other
      insurance available to Partnership.

     

    (iii)           When
      any motor vehicles (owned, non-owned and hired) are used in connection with
      the
      services to be performed, the subcontractor shall provide Comprehensive
      Automobile Liability Insurance with limits of not less than One Million Dollars
      ($1,000,000) per occurrence CSL, for bodily injury and property damage. The
      Partnership is to be endorsed as an additional insured on the subcontractor's
      policy and such insurance will be endorsed as primary and
      non-contributory with any other insurance available to Partnership.

     

    (iv)           When
      any architects, engineers, construction managers, elevator repair professionals,
      etc., perform work, Professional Liability insurance covering acts, errors
      or
      omissions shall be maintained with limits of not less than Five Million Dollars
      ($5,000,000) per occurrence is required. Coverage extensions shall include
      Blanket Contractual Liability. When policies are renewed or replaced, the policy
      retroactive date must coincide with, or proceed, the start of Services under
      this Agreement. A claims-made policy, which is not renewed or replaced, must
      have an extended reporting period of two (2) years.

     

    (v)           When
      the subcontractor's service agreement requires the handling of funds or valuable
      papers, the subcontractor shall provide Blanket Crime coverage covering all
      persons liable under this Agreement, against loss by dishonesty, robbery,
      burglary, theft, destruction or disappearance, computer fraud, credit card
      forgery and other related crime risks. The policy limit shall be written to
      cover losses in the amount of the maximum monies collected, received and/or
      in
      the subcontractor's care at any given time.

     

    (vi)           The
      insurance requirements under this Agreement shall be maintained in a separate
      Professional Liability Policy or as an adjunct to the General Liability Policy
      through endorsement. If the coverage is provided through an endorsement to
      the
      General Liability Policy a copy of the endorsement must be attached to the
      certificate. This insurance shall cover third party assault, bodily injury,
      property damage, damage to property in Subcontractor's care, custody, and
      control, or personal injury arising out of the Subcontractor's wrongful act(s)
      in an amount of not less than Five Million Dollars ($5,000,000). Coverage
      extensions shall include Blanket Contractual Liability and include a Lost Key
      Coverage Endorsement if the firm will possess keys to the property. When
      policies are renewed or replaced, the policy retroactive date must coincide
      with, or precede, start of Services under this Agreement. A Claims-made policy
      which is not renewed or replaced must have an extended reporting period of
      two
      (2) years.

     

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    (vii)           The
      policy must waive any right of recovery they may have against the Partnership
      because of payments made for injuries or damages arising out of your ongoing
      operations of "your work" done under a contract with that person or
      organization.

     

    (viii)                      Umbrella
      Liability coverage, if applicable, is to follow the form of the Primary
      Insurance requirements outlined above.

     

    2.7           Compliance
      with Insurance Policies; Compliance by Tenants with Tenant
      Leases.  Asset Manager shall use its commercially reasonable
      efforts to prevent the use of each Qualified Asset for any purpose that might
      void any policy of insurance held by the Partnership, or any tenant at each
      Qualified Asset, that might render any loss insured thereunder uncollectible
      or
      that would be in violation of any governmental restriction or the provisions
      of
      any lease.  Asset Manager shall use its commercially reasonable
      efforts to secure full compliance by the tenants with the terms and conditions
      of their respective leases, including, but not limited to, periodic maintenance
      of all building systems, including individual tenant’s heating, ventilation and
      air conditioning systems.

     

    2.8           Tenant
      Relations.  Asset Manager will maintain reasonable contact with
      the tenants of the Qualified Assets and keep the Partnership informed of the
      tenants’ concerns, expansion or contraction plans, changes in occupancy or use,
      and other matters that could have a material bearing upon the leasing, operation
      or ownership of each Qualified Asset.

     

    2.9           Compliance
      with Laws. Asset Manager shall use its commercially reasonable efforts to
      determine such action that may be necessary, inform the Partnership of action
      as
      may be necessary and, when authorized by the Partnership, take such action
      that
      may be necessary to cause the Qualified Assets to comply with all current and
      future laws, rules, regulations, or ordinances affecting the ownership, use
      or
      operation of each Qualified Asset; provided,  however, that Asset
      Manager need not obtain the prior authorization of the Partnership to take
      action in case of an emergency or any threat to life, safety or property, so
      long as Asset Manager shall give the Partnership prompt notice of any such
      action taken.

     

    2.10           Cooperation.
      Should any claims, demands, suits, or other legal proceedings be made or
      instituted by any third party against the Partnership that arise out of any
      matters relating to a Qualified Asset or the Management Agreement or Asset
      Manager’s performance hereunder, Asset Manager shall promptly give the
      Partnership all pertinent information and assistance in the defense or other
      disposition thereof; provided, however, in the event the foregoing requires
      Asset Manager to incur any expenses beyond the ordinary cost of performing
      its
      obligations under the Management Agreement, the Partnership shall pay for any
      such out-of-pocket costs of which the Partnership has been advised in
      writing.

     

    2.11           Notice
      of Complaints, Violations and Fire Damage. Asset Manager shall respond to
      complaints and requests from tenants within thirty (30) days of Asset Manager’s
      having received any material complaint made by a tenant or any alleged landlord
      default under any lease.  Additionally, Asset Manager shall notify the
      Partnership as soon as is reasonably practical (such notice to be accompanied
      by
      copies of supporting documentation) of each of the following:  any
      notice of any governmental requirements received by Asset Manager; upon becoming
      aware of any material defect in a Qualified Asset; and upon becoming aware
      of
      any

     

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    fire
      or
      other material damage to any Qualified Asset. In the case of any fire or other
      material damage to a Qualified Asset, Asset Manager shall also notify the
      Partnership’s insurance broker telephonically, so that an insurance adjuster has
      an opportunity to view the damage before repairs are started, and complete
      customary loss reports in connection with fire or other damage to a Qualified
      Asset.

     

    2.12           Notice
      of Damages and Suits; Settlement of Claims. Asset Manager shall notify the
      Partnership’s general liability insurance broker and the Partnership as soon as
      is reasonably practical of the occurrence of any bodily injury or property
      damage occurring to or claimed by any tenant or third party on or with respect
      to a Qualified Asset, and promptly forward to the broker, with copies to the
      Partnership, any summons, subpoena or other like legal documents served upon
      Asset Manager relating to actual or alleged potential liability of the
      Partnership, Asset Manager or a Qualified Asset.  Notwithstanding the
      foregoing, Asset Manager shall not be authorized to accept service of process
      on
      behalf of the Partnership, unless such authority is otherwise imputed by
      law.  The Asset Manager shall have no right to settle, compromise or
      otherwise dispose of any claims, demands, or liabilities, whether or not covered
      by insurance, without the prior written consent of the Partnership, which
      consent may be withheld by the Partnership in its sole discretion.

     

    2.13           Enforcement
      of Leases. The Asset Manager shall enforce compliance by tenants with each
      and all of the terms and provisions of the leases, provided,
however, that Asset Manager shall not, without the prior written consent
      of the Partnership in each instance, which consent may be withheld by the
      Partnership in its sole discretion, institute legal proceedings in the name
      of
      the Partnership to enforce leases, collect income and rent or dispossess tenants
      or others occupying a Qualified Asset or any portion thereof, or terminate
      any
      lease, lock out a tenant, or engage counsel or institute any proceedings for
      recovery of possession of a Qualified Asset if any such action by the Asset
      Manager would constitute a Major Decision.

     

    2.14           Environmental.

     

    (a)           Notice.
      The Asset Manager shall promptly advise the Partnership in writing of any
      evidence of non-compliance with any Environmental Laws, which Asset Manager
      is
      aware of, together with a written report of the nature and of the non-compliance
      and the potential threat, if any, to the health and safety of persons and/or
      damage to each Qualified Asset or the property adjacent to or surrounding each
      Qualified Asset. The Partnership acknowledges that (A) Asset Manager is not
      an
      environmental engineer and does not have any special expertise in the
      Environmental Laws, (B) Asset Manager’s duties under this Section 2.15
      are limited to the quality of reasonable commercial care and diligence
      customarily applied to property managers of triple net leased
      properties.

     

    (b)           Rights;
      Limitations. Without limiting any other provision contained herein and
      subject to Section 2.13, Asset Manager shall use commercially reasonable efforts
      to enforce the Partnership’s rights under the leases insofar as any tenant’s
      compliance with Environmental Laws are concerned; provided,
however, Asset Manager shall hold in confidence all information bearing
      on Environmental Laws and hazardous materials, except to the extent expressly
      instructed otherwise in writing by the Partnership, or except to the extent
      necessary to protect against the imminent threat to the life and safety of
      persons and/or damage

     

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

    to
      a
      Qualified Asset or damage to the property adjacent to or surrounding such
      Qualified Asset, or except to the extent such disclosure is required by
      Environmental Laws, other laws, or court order.

     

    2.15           Monitoring
      of Tenant Improvements.  The Asset Manager shall monitor the
      construction and installation of material tenant improvements undertaken by
      the
      tenant under any lease and act as the Partnership’s liaison with such tenant’s
      construction managers and contractors (or other supervisors of a tenant’s
      build-out).

     

    

    15Unassociated Document

      Exhibit
      10.3

     

    Execution
      Copy

    
 

    CONTRIBUTION
      AGREEMENT

     

    

    

    THIS
      CONTRIBUTION AGREEMENT (“Agreement”) is made as of the 10th day of
      August, 2007, between The Lexington Master Limited Partnership, a Delaware
      limited partnership (“LMLP”), and Net Lease Strategic Assets
      Fund L.P., a Delaware limited partnership (the
“Partnership”).

     

    RECITALS

     

    A.           The
      Partnership was formed pursuant to a limited partnership agreement, dated as
      of
      the date hereof (the “Partnership Agreement”), among LMLP, as a
      limited partner, LMLP GP LLC, a Delaware limited liability company
      (“LMLP GP”), as the general partner, Inland American (Net
      Lease) Sub, LLC, a Delaware limited liability company
      (“Inland”), as a limited partner.

     

    B.           At
      each Closing, LMLP will make a contribution of Property or Properties and/or
      direct or indirect interests in an Owner of Property or Owners of Properties
      to
      the Partnership subject to the terms and conditions of this
      Agreement.

     

    NOW
      THEREFORE, in consideration of the mutual covenants and agreements contained
      in
      this Agreement and for other good and valuable consideration, the receipt and
      sufficiency of which are hereby acknowledged, the parties hereto agree as
      follows:

     

    ARTICLE
      1

     

    DEFINITIONS

     

    1.1           Definitions.  In
      addition to the terms defined in this Agreement, the following terms shall
      have
      the meanings set forth herein:

     

    “AEP
      Property” the property located at 420 Riverport Road, Kingport,
      Tennessee.

     

    “Business
      Day” means any day of the year other than Saturday, Sunday or any other day
      on which banks located in New York, New York generally are closed for
      business.

     

    “Closing”
      shall have the meaning set forth in Section 4.1 hereof.  It
      being understood by the parties that this Agreement contemplates multiple
      Closings.

     

    “Contributed
      Asset” means an Interest or a Property contributed by LMLP to the
      Partnership.

     

    “Contributing
      Owner” means an Owner of Contributed Asset that is a Property.

     

    “Contribution
      Value” with respect to each Contributed Asset means the value of the
      Property, as determined by the Parties, and shown on Schedule 1
      hereto.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    “Eastgar”
      means Eastgar Associates Limited Partnership, a Connecticut limited
      partnership.

     

    “Eastgar
      Consent” means the consent of two-thirds in interest of the limited partners
      of Eastgar to the contribution of the general partnership interest in Eastgar
      to
      the Partnership.

     

    “Eastgar
      Partnership Agreement” means the limited partnership agreement of Eastgar,
      as the same may be amended from time to time.

     

    “Endorsements”
      means the following endorsements (if available in the jurisdiction in which
      the
      Property is located) as required by the Partnership and Inland:  (i)
      owner’s comprehensive endorsement; (ii) location endorsement; (iii) zoning
      endorsement; (iv) legal lot endorsement; (v) separate tax lot endorsement;
      (vi)
      street access endorsement; (vii) survey endorsement; (viii) deletion of
      creditor’s rights exclusion; (ix) encroachment endorsement, if applicable; (x)
      restrictions endorsement, if applicable; (xi) Fairway endorsement, if
      applicable; (xii) non-imputation endorsement, if applicable; and (xiii) such
      other endorsements as agreed by the Parties.

     

    “GP
      Entities” means each of the Persons listed on Schedule 1 hereto under
      the heading “GP Entity.”

     

    “Ground
      Lease” means, as to a Property, the ground lease governing the leasehold
      interest in the Real Property.

     

    “Ground
      Lease Estoppels” means estoppel certificates from the lessor of a Ground
      Lease, substantially in the form of Exhibit A attached hereto or in such
      other form as may be attached to the applicable Ground Lease.

     

    “Intangible
      Property” means, as to a Property, all intangible property owned by the
      Owner and used in connection with the Real Property or the Personal Property
      including, without limitation, all of the Owner’s right, title and interest in
      and to all:  licenses; approvals; applications and permits issued or
      approved by any governmental authority and relating to the use, operation,
      ownership, occupancy and/or maintenance of the Real Property or the Personal
      Property; Service Contracts; utility arrangements; indemnities; claims against
      third parties; plans; drawings; specifications; surveys; maps; engineering
      reports and other technical descriptions; books and records; insurance proceeds
      and condemnation awards; and all other intangible rights used in connection
      with
      or relating to the Real Property or the Personal Property, including rights,
      if
      any to current and past names of the Real Property.

     

    “Interest”
      means a direct or indirect equity interest in an Owner, as described on
Schedule 1 hereto.

     

    “Leases”
      means, as to a Property, all leases within the Improvements.

     

    “LMLP
      Contribution Affiliate” means each of the Persons listed on Schedule
      1 hereto under the heading “LMLP Contribution Affiliate.”

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    “LMLP
      Entity” means each of LMLP, each LMLP Contribution Affiliate, each GP Entity
      and each Owner and “LMLP’s Entities” means the LMLP, the LMLP
      Contribution Affiliates, the GP Entities and the Owners,
      collectively.

     

    “Loan”
      means a loan secured by a mortgage or deed of trust encumbering a Property,
      as
      shown on Schedule 1 hereto.

     

    “Loan
      Documents” means the documents and instruments evidencing and securing a
      Loan (excluding any certificates or similar instruments delivered to the lender
      in connection with the origination of a Loan which do not contain any terms
      of
      the Loan).

     

    “Owner”
      means each of the Persons listed on Schedule 1 hereto under the heading
“Owner”.

     

    “Permitted
      Exceptions” are such exceptions to title to a Property either (i) set forth
      on Schedule 4.2(a) hereto or (ii) as may be approved in writing by the
      Parties and Inland, which shall be the only exceptions to title shown in a
      Title
      Policy.

     

    “Party”
      or “Parties” means, individually or collectively, as the case may be,
      LMLP and the Partnership, and their respective permitted successors and
      assigns.

     

    “Partner”
      means a partner of the Partnership.

     

    “Person”
      means any individual, corporation, partnership or other entity.

     

    “Personal
      Property” means, as to each Property, all tangible property owned by the
      Owner now or on the Closing Date and used in conjunction with the operation,
      maintenance, ownership and/or occupancy of the Real Property including without
      limitation:  furniture; furnishings; art work; sculptures; paintings;
      office equipment and supplies; landscaping; plants; lawn equipment; and whether
      stored on or off the Real Property, tools and supplies, maintenance equipment,
      materials and supplies used in the operation of the Real Property, shelving
      and
      partitions, and any construction and finish materials and supplies not
      incorporated into the Improvements and held for repairs and replacements
      thereto, wherever located.

     

    “Property”
      means, for each property described on Schedule 1 hereto, the fee simple
      interest or leasehold interest in the Real Property and Leases, Personal
      Property and Intangible Property related to it.

     

    “Purchase
      Agreement” means that certain Purchase and Sale Agreement, dated of even
      date herewith, between LMLP and the Partnership.

     

    “Real
      Property” means, as to each Property, the real property, together with all
      rights, privileges, hereditaments and interests appurtenant thereto, including,
      without limitation:  any water and mineral rights, development rights,
      air rights, easements, and any and all rights of the Owner in and to any
      streets, alleys, passages and other rights of way; and all buildings and other
      improvements located on or affixed to such real property and all replacements
      and additions thereto (collectively, “Improvements”).

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    “ROFO/ROFR
      Rights” means the rights of first offer or rights of first refusal provided
      in the Leases set forth on Schedule 2 hereto.

     

    “Schedule
      1” means Schedule 1 attached hereto, and any amendment or supplement
      thereto, or restatement thereof resulting from a Closing or an adjustment or
      proration under Section 4.4 hereof.

     

    “Service
      Contracts” means, as to each Property, all management, service, supply,
      equipment rental, and other contracts related to the operation, improvement
      or
      repair of the Real Property or the Personal Property.

     

    “Tenant
      Estoppels” means estoppel certificates from tenants of a Property or
      Properties, substantially in the form of Exhibit B attached hereto or in
      such other form as may be attached to the applicable Lease.

     

    “Title
      Company” means such title company or companies as may be selected by
      LMLP.

     

    “Title
      Policy” means an ALTA Owner’s Policy (1992) of title insurance, with
      extended coverage, issued by the Title Company as of a Closing, in the amount
      of
      the Contribution Value with respect to such Closing, containing the
      Endorsements, insuring that the Partnership, if the Property is the Contributed
      Asset, or the Owner, if an Interest is the Contributed Asset, is the owner
      of
      fee simple title or leasehold title, as applicable, to the Property, subject
      only to the Permitted Exceptions.

     

    ARTICLE
      2

     

    

     

    REPRESENTATIONS
      AND WARRANTIES OF LMLP

     

    As
      of the
      date of a Closing, LMLP hereby represents and warrants as follows to the
      Partnership with respect to itself, the GP Entities, the Owners and the
      Properties.

     

    2.1           Due
      Organization.  Each LMLP Entity has been duly organized and is
      validly existing and in good standing under the laws of its jurisdiction of
      organization, and is qualified to do business and in good standing in all
      jurisdictions where such qualification is necessary to carry on its business
      as
      now conducted.  True, correct and complete copies of the constituent
      documents of each GP Entity and each Owner (if applicable) have been delivered
      to the Partnership and Inland.

     

    2.2           Due
      Authorization.  LMLP and, to the extent that a Contributed Asset
      is a Property, the applicable Owner, has full power and authority to own and
      assign the Contributed Asset and to enter into this Agreement and to consummate
      the transactions contemplated hereby and thereby.  The execution,
      delivery and performance by each LMLP Entity of this Agreement, as applicable,
      have been duly and validly approved by all necessary limited partnership and
      limited liability company action and, except for the Eastgar Consent, no other
      actions or proceedings on the part of any LMLP Entity are necessary to authorize
      this Agreement or the transactions contemplated hereby and
      thereby.  Except for the ROFO/ROFR Rights, no consent, waiver,
      approval, or authorization of, or filing, registration, or qualification with,
      or notice to,

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    any
      governmental instrumentality or any Person (including without limitation, its
      partners, managers or members) is required to be made, obtained, or given by
      a
      LMLP Entity in connection with the execution, delivery, and performance of
      this
      Agreement and the contribution of the Contributed Asset or, if required, such
      consent or action has been obtained or taken.  Without limiting the
      generality of the foregoing, the performance of this Agreement by LMLP does
      not
      require the consent of the holder of any lien or Loan encumbering a Property,
      a
      Contributed Asset or an LMLP Entity, or, if required, such consent will be
      obtained and a copy will be delivered to the Partnership and Inland on or prior
      to the Closing.  Additionally, the execution, delivery and performance
      of this Agreement by each LMLP Entity, as applicable, does not conflict with
      any
      organizational documents of LMLP or any other LMLP Entity.  LMLP has
      duly and validly executed and delivered this Agreement.

     

    2.3           Enforceability.  This
      Agreement constitutes, and the documents executed pursuant to this Agreement
      when executed will constitute, legal, valid and binding obligations of LMLP
      and
      of a Contributing Owner (if applicable), enforceable against LMLP or such Owner
      in accordance with their respective terms, except to the extent such
      enforceability may be limited by applicable bankruptcy and other laws affecting
      creditors’ rights, or by general equitable principles.

     

    2.4           Conflicts.  The
      execution and delivery of this Agreement, and the performance by LMLP under
      this
      Agreement, do not and will not conflict with or result in a breach of (with
      or
      without the passage of time or notice or both) the terms of any of LMLP’s
      constituent documents, any judgment, order or decree of any governmental
      authority binding on LMLP, and, to LMLP’s knowledge, do not breach or violate
      any applicable law, rule or regulation of any governmental
      authority.  Subject to obtaining waivers of all ROFO/ROFR Rights, the
      execution, delivery and performance by LMLP under this Agreement will not result
      in a breach or violation of (with or without the passage of time or notice
      or
      both) the terms or provisions of, or constitute a default under, any indenture,
      mortgage, deed of trust, loan agreement or other agreement or instrument to
      which LMLP is a party or by which LMLP is bound or to which the Contributed
      Asset, any GP Entity or any Owner is subject.  

     

    2.5           Contributed
      Assets.  With respect to any Interest constituting a Contributed
      Asset being contributed by LMLP, LMLP holds title to such Interest free and
      clear of any liens, claims or other encumbrances, except as disclosed in writing
      to the Partnership and except as set forth on Schedule 1 and Schedule
      2.5 hereto.  Except as indicated on Schedule 2.5 hereto,
      LMLP holds, either directly or indirectly, one hundred percent (100%) of the
      ownership interest in the applicable Owner.  LMLP has not, directly or
      indirectly, sold, conveyed, transferred, given, pledged, mortgaged or otherwise
      disposed of, encumbered or granted in any manner any interest in a GP Entity
      or
      an Owner (other than intercompany loans which shall be satisfied by the
      applicable LMLP Entity as of the Closing); there are no outstanding warrants,
      options, rights, agreements, calls or other commitments to which an LMLP Entity
      (directly or indirectly) is a party relating to or providing for the sale,
      conveyance, transfer, gift, pledge, mortgage or other disposition, encumbrance
      or granting of, or permitting any Person to acquire any direct or indirect
      interest in, a GP Entity or an Owner.  Subject to obtaining waivers of
      the ROFO/ROFR Rights and subject to obtaining the Eastgar Consent, LMLP has
      the
      absolute right, power and capacity, to sell, assign, convey, transfer and
      deliver the Interests as contemplated by this Agreement, free and clear of
      any
      liens, claims or other encumbrances, other than the applicable

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Loan.  Each
      applicable Owner is the sole owner of the applicable Property.  Except
      for a Contributing Owner, each applicable Owner does not now own and has not
      at
      any time previously owned any assets or property other than the Property, and
      has engaged in no business other than the ownership of the
      Property.

     

    2.6           Litigation.  Except
      as disclosed in writing to the Partnership and Inland, to LMLP’s knowledge,
      there is no action, suit or proceeding pending or threatened against LMLP,
      a GP
      Entity, any Owner or a Property which, if adversely determined, would have
      a
      material adverse effect on the financial condition or results of operations
      of
      the GP Entity, the Owner or the Property, or which challenges or impairs LMLP’s
      ability to execute, deliver or perform under this Agreement or to assign the
      Contributed Asset, or to consummate the transaction as contemplated
      herein.

     

    2.7           Contractors
      and Suppliers.  Except as disclosed in writing to the Partnership
      and Inland, to LMLP’s knowledge, all contractors, subcontractors, suppliers,
      architects, engineers and others who have performed services or labor or
      supplied material in connection with the acquisition, development, ownership
      or
      management of the Property, other than those incurred in the ordinary course
      of
      business for the accounts payable period immediately prior to Closing and those
      engaged directly by tenants, have been paid in full.

     

    2.8           Leases.  LMLP
      has made available to the Partnership and Inland true, correct and complete
      copies of all of the Leases affecting the Property including all amendments
      and
      guarantees.  Except as disclosed in writing to the Partnership, to
      LMLP’s knowledge, no written notice has been given or received by the landlord
      under such Leases with respect to any material default under the Leases which
      remains uncured.  Except as disclosed in writing to the Partnership,
      to LMLP’s knowledge, there is no free rent outstanding and all of the landlord’s
      obligations to construct tenant improvements or reimburse the tenants for tenant
      improvements under the Leases have been paid and performed in full and all
      concessions from the landlord under the Leases have been paid and performed
      in
      full.  Schedule 2.8 hereto contains a rent roll for each Lease
      affecting a Property.

     

    2.9           Ground
      Leases.  LMLP has made available to the Partnership and Inland
      true, correct and complete copies of all of the Ground Lease affecting the
      Property, if applicable.  Except as disclosed in writing to the
      Partnership and Inland, to LMLP’s knowledge, no written notice has been given or
      received by the landlord under such Leases with respect to any material default
      under the Ground Lease which remains uncured.

     

    2.10           Eastgar
      Partnership Agreement.  LMLP has made available to the Partnership
      and Inland true, correct and complete copies of the Eastgar Partnership
      Agreement.  Except as disclosed in writing to the Partnership and
      Inland, to LMLP’s knowledge, no written notice has been given or received by
      LMLP under the Eastgar Partnership Agreement with respect to any material
      default under the Eastgar Partnership Agreement which remains
      uncured.

     

    2.11           Undisclosed
      Liabilities.  Except as disclosed in writing to the Partnership
      and Inland, to LMLP’s knowledge, there are no liabilities of the GP Entities,
      the Owners (other than the Contributing Owners) or the Property (including,
      but
      not limited to, liabilities for taxes relating to any period prior to the date
      hereof, other than real estate taxes not yet due and

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    payable),
      other than (i) any Loan (if applicable), (ii) obligations, duties and
      responsibilities under the Leases, (iii) trade payables in the ordinary course,
      (iv) obligations, duties and responsibilities under applicable laws, and (v)
      in
      the case of a Contributing Owner only, liabilities relating to assets owned
      by
      such Contributing Owner other than the Property.

     

    2.12           Legal
      Compliance.  Except as disclosed in writing to the Partnership and
      Inland, to LMLP’s knowledge, neither the Property nor the current use thereof
      violates in any material respect any governmental law or regulation or any
      covenants or restrictions encumbering the Property.  Except as
      disclosed in writing to the Partnership, to LMLP’s knowledge, no notice of
      violation or alleged violation of any laws, rules, regulations or codes, with
      respect to the Property has been issued which has not been corrected to the
      satisfaction of the issuer of the notice.

     

    2.13           Environmental.  Except
      as disclosed in the Phase I environmental report, if any, pertaining to the
      Property received by LMLP, a copy of which has been furnished to the
      Partnership, LMLP has no knowledge of any violation of Environmental Laws
      related to the Property or the presence or release of Hazardous Materials on
      or
      from the Property in violation of law.  Except as disclosed in writing
      to the Partnership, to LMLP’s knowledge, no Owner, tenant or other Person has,
      manufactured, introduced, released or discharged from or onto the Property
      any
      Hazardous Materials or any toxic wastes, substances or materials (including,
      without limitation, asbestos), in violation of any Environmental
      Laws.  The term “Environmental Laws” includes without
      limitation the Resource Conservation and Recovery Act and the Comprehensive
      Environmental Response Compensation and Liability Act and other federal laws
      governing the environment as in effect on the date of this Agreement or such
      later date as of which this representation is effective pursuant to the terms
      hereof, together with their implementing regulations and guidelines as of the
      date of this Agreement or such later date as of which this representation is
      effective pursuant to the terms hereof, and all state, regional, county,
      municipal and other local laws, regulations and ordinances that are equivalent
      or similar to the federal laws recited above or that purport to regulate
      Hazardous Materials.  The term “Hazardous Materials” includes
      petroleum, including crude oil or any fraction thereof, natural gas, natural
      gas
      liquids, liquified natural gas, or synthetic gas usable for fuel (or mixtures
      of
      natural gas or such synthetic gas), and any substance, material waste, pollutant
      or contaminant listed or defined as hazardous or toxic under any Environmental
      Law.

     

    2.14           Disclosure.  To
      LMLP’s knowledge, the documents delivered in connection with any contribution of
      a Contributed Asset pursuant hereto, the Leases and such other contracts and
      agreements disclosed to the Partnership and Inland were true and correct copies
      of such documents.  Other than this Agreement, the Partnership
      Agreement, the documents delivered in connection with any contribution of a
      Contributed Asset pursuant hereto, the Leases, the Ground Leases and such other
      contracts and agreements disclosed to the Partnership and Inland, to LMLP’s
      knowledge, there are no material contracts or agreements of any kind relating
      to
      the Contributed Asset or the Property to which the Partnership or the GP Entity
      or the Owner (if applicable) or their agents or the Contributed Assets or the
      Property would be bound after Closing.

     

    2.15           Loan.  If
      a Property is encumbered by a Loan (i) LMLP has delivered true, correct and
      complete copies of the Loan Documents to the Partnership and Inland, (ii) the
      payments due under or with respect to such Loan are current and (iii) to LMLP’s
      knowledge, there exist no

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    outstanding
      and uncured defaults under the Loan Documents and no notices of default have
      been received from the holder of such Loan which remain outstanding and
      uncured.  Schedule 1 hereto sets forth the outstanding
      principal balance and accrued interest due under each Loan.

     

    ARTICLE
      3

     

    CONDITIONS
      PRECEDENT

     

    3.1           Obligation
      of the Partnership.  The obligation of the Partnership to
      consummate a Closing with respect to a Contributed Asset is subject to the
      satisfaction or waiver by Inland of each of the following conditions related
      to
      the contribution of such Contributed Asset:

     

    (a)           Representations
      and Warranties.  The representations and warranties made by LMLP
      in Article 2 of this Agreement with respect to such Contributed Asset
      shall be true and correct in all material respects when made and on and as
      of
      the Closing Date, if applicable, as though such representations and warranties
      were made on and as of such date.

     

    (b)           Compliance
      with Agreements and Covenants.  LMLP shall have performed and
      complied in all material respects with all of its covenants, obligations and
      agreements contained in this Agreement to be performed and complied with by
      it
      on or prior to a Closing of a contribution of such Contributed
      Asset.

     

    (c)           Leases.  As
      of a Closing:  with respect to such Contributed Asset, (i) the current
      Tenant Estoppel for the applicable Lease disclosing no matters reasonably
      objectionable to the Partnership and Inland, has been delivered to the
      Partnership and Inland; (ii) the current Ground Lease Estoppel for the
      applicable Ground Lease, if applicable, disclosing no matters reasonably
      objectionable to the Partnership and Inland, have been delivered to the
      Partnership and Inland; (iii) the consent of the ground lessor under the Ground
      Lease, if applicable and if required under the Ground Lease; (iv) the Leases
      and, if applicable, the Ground Leases shall be in full force and effect and
      no
      monetary or material nonmonetary default or claim by landlord or tenant shall
      have arisen under any Leases or, if applicable, the Ground Lease that was not
      specifically disclosed in writing to the Partnership and Inland; (v) no tenant
      at the applicable Property shall have initiated or had initiated against it
      any
      insolvency, bankruptcy, receivership or other similar proceeding; (iv) there
      shall not have been any amendment to the Lease or Ground Lease, as applicable,
      after the date hereof, unless consented to by the Partnership and Inland; (vii)
      there shall not have occurred an event of any material damage or destruction
      to
      the applicable Property or any significant condemnation of the applicable
      Property which are not the obligation of the tenants thereof to repair and
      renders such Property unusable by the tenant thereof or gives the tenants
      thereof the right to terminate.

     

    (d)           Title.  At
      Closing, the Title Company shall deliver a Title Policy with respect to the
      applicable Property as of the date and time of the recording of the Deed(s)
      or
      Assignment(s) of Leasehold Interest, or the delivery of the Assignment(s) of
      Interest.  If mutually agreed to by the Parties and Inland, in the
      case of an Assignment of Interest, the existing Title Policy may satisfy this
      condition, so long as the Title Company issues Fairway and non-imputation
      endorsements thereto as of such Closing, in form satisfactory to the
      Parties.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (e)           Loan.  Any
      required consent from the holder of a Loan with respect to such Contributed
      Asset shall have been obtained, and the Loan Documents modified in such form
      and
      substance as agreed by the Parties.

     

    (f)           ROFO/ROFR.  With
      respect to Contributed Assets listed on Schedule 2 hereto only, LMLP
      shall have received a waiver by the tenants at the applicable Property of its
      ROFO/ROFR Right in a form reasonably acceptable to the Partnership and
      Inland.

     

    (g)           Eastgar.  With
      respect to the contribution of the Contributed Assets relating to Eastgar only,
      the receipt of the Eastgar Consent in a form reasonably acceptable to the
      Partnership and Inland.  The general partner of Eastgar shall have
      approved the transactions contemplated hereunder in accordance with and as
      required by the Eastgar Agreement.  There shall not have been any
      amendment to the Eastgar Agreement after the date hereof unless consented to
      by
      the Partnership and Inland.

     

    (h)           AEP
      Property.  Only with respect to the AEP Property, in the event
      LMLP and Inland, in good faith, determines that the cost of any remediation
      arising from the reportable events recommended by that certain Phase II
      Environmental Report with respect to the AEP Property exceeds $250,000, the
      written agreement of LMLP to indemnify the Partnership for such excess
      cost.

     

    (i)           Other
      Conditions.  All other conditions to the Partnership’s obligations
      set forth in this Agreement or the Partnership Agreement with respect to the
      contribution of such Contributed Asset have been satisfied as of the dates
      required.

     

    3.2           Obligation
      of LMLP.  The obligation of LMLP to consummate a Closing with
      respect to a Contributed Asset is subject to the satisfaction or waiver of
      each
      of the following conditions related to the contribution of such Contributed
      Asset:

     

    (a)           Compliance
      with Agreements and Covenants.  The Partnership shall have
      performed and complied in all material respects with all of its covenants,
      obligations and agreements contained in this Agreement to be performed and
      complied with by it on or prior to a Closing of a contribution of such
      Contributed Asset; provided that the Partnership’s failure to perform or comply
      as provided by this Section shall not be a condition to the contribution of
      a
      Contributed Asset if such failure is caused by Event of Default by LMLP GP
      under
      the Partnership Agreement.

     

    (b)           Loan.  Any
      required consent from the holder of a Loan with respect to such Contributed
      Asset shall have been obtained, and the Loan Documents modified in such form
      and
      substance as agreed by the Parties.

     

    (c)           Other
      Conditions.  All other conditions to LMLP’s obligations set forth
      in this Agreement or the Partnership Agreement with respect to the contribution
      of such Contributed Asset have been satisfied as of the dates
      required.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    ARTICLE
      4

     

    CONTRIBUTION;
      CLOSING

     

    4.1           Contribution.  LMLP
      and each LMLP Contribution Affiliate agree to contribute the Contributed Assets
      to the Partnership subject to the terms and conditions set forth
      herein.

     

    4.2           Closing.  The
      consummation of the contribution of a Contributed Asset to the Partnership
      and
      the other transactions contemplated to occur simultaneously therewith shall
      take
      place on a Business Day within one hundred eighty (180) days from the date
      first
      set forth above, and not less than five (5) Business Days following notice
      from
      either party, through an escrow with the Title Company, after the execution
      of
      this Agreement and upon completion of the deliveries hereunder and satisfaction
      of the other conditions set forth herein with respect to the contribution of
      such Contributed Asset (each, a “Closing”).

     

    4.3           Deliveries
      by Parties.  At a Closing, in addition to any other documents or
      agreements required under any other provision of this Agreement, each Party
      shall make or cause to be made the following deliveries and
      performance:

     

    (a)           Deed/Assignment
      of Leasehold Interest.  If a Contributed Asset is a Property,
      either, as applicable, (i) a deed (a “Deed”) containing a special
      warranty of title, in statutory form or if the applicable jurisdiction does
      not
      promulgate such a form, in such form as the title company selected by LMLP
      shall
      require in order to issue a Title Policy with respect thereto, executed and
      acknowledged by the Owner thereof, conveying to the Partnership indefeasible
      fee
      simple title to such Property, subject only to the Permitted Exceptions, or
      (ii)
      an assignment of leasehold interest (an “Assignment of Leasehold
      Interest”), in substantially the form attached as Exhibit C hereto,
      executed and acknowledged, assigning to the Partnership the leasehold interest
      title to such Property.  The Deed or the Assignment of Leasehold
      Interest, as the case may be, shall be delivered, in escrow, to the offices
      of
      the title company in the appropriate counties for recording the Deed or the
      Assignment of Leasehold Interest, as the case may be, so that the Deed or the
      Assignment of Leasehold Interest, as the case may be, can be recorded on the
      date of such Closing;

     

    (b)           Bill
      of Sale.  If a Contributed Asset is a Property, a quit claim bill
      of sale (“Bill of Sale”), duly executed and acknowledged by Owner,
      conveying to the Partnership title to any Personal Property.

     

    (c)           General
      Assignment. An assignment by which Owner will assign, without recourse, all
      of Owner’s rights to the Partnership in and under: (i) all guaranties and
      warranties made by any contractor, subcontractor, materialman, supplier, or
      other person or entity with respect to the Improvements; (ii) the service or
      maintenance contracts currently existing with respect to all or any part of
      the
      Property to which Owner is a party, if any; and (iii) the permits, certificates
      of occupancy, approvals or other governmental authorizations possessed by Owner,
      if any, with regard to the operation of the Real Property or Personal
      Property.

     

    (d)           Assignment
      of Interest.  If a Contributed Asset is an Interest, an assignment
      (the “Assignment of Interest”) of such Interest, in substantially the
      form attached as Exhibit D hereto,

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    executed
      and acknowledged by LMLP, assigning the Interest to the Partnership, together
      with any filings required in the jurisdiction in which the entity to which
      such
      Interest relates is organized.

     

    (e)           Assignment
      of Leases.  If a Contributed Asset is a Property, a Bill of Sale
      and Assignment of Leases and Contracts in substantially the form attached as
      Exhibit E hereto (the “Assignment”), executed and acknowledged by
      the Owner of the Property, vesting in the Partnership good title to the Personal
      Property, Improvements and Leases described therein free of any claims, except
      as disclosed in writing to the Partnership and Inland, to the extent
      applicable;

     

    (f)           Loan
      Modification Documents.  If a Contributed Asset is a Property or
      an Interest in a Property encumbered by a Loan, any documents, executed and
      acknowledged by the holder of the Loan and the other parties thereto, modifying
      the Loan Documents, as contemplated by Section 3.1(e) above;

     

    (g)           Payment
      of Obligations Not Assumed.  Payment or provision for the payment
      in manner reasonably satisfactory to the Partnership and Inland of all
      obligations of LMLP or the Owner, if applicable, not specifically assumed or
      paid pursuant to this Agreement with respect to each Contributed Asset being
      contributed at such Closing, including payment or provision for payment of
      obligations arising directly from existing and known violations of applicable
      laws;

     

    (h)           Certificate.  A
      certificate from LMLP that its representations and warranties in Article
      2 with respect to itself and each Contributed Asset being contributed at
      such Closing are true and correct in all material respects.

     

    (i)           Notice
      to Tenants.  If a Contributed Asset is a Property, a notice to
      each tenant of such Property in substantially the form attached as Exhibit
      F hereto;

     

    (j)           State
      Law Disclosures.  Such disclosures and reports as are required by
      applicable state and local law in connection with the conveyance of real
      property or assignments of ownership interests;

     

    (k)           FIRPTA.  A
      Foreign Investment in Real Property Tax Act affidavit executed by LMLP with
      respect to such Contributed Asset; and

     

    (l)           Delivery
      of Books and Records.  Delivery to the offices of Partnership’s
      asset manager, to the extent in LMLP’s possession: the original Leases or copies
      thereof if the originals are not in LMLP’s possession; copies or originals of
      all books and records of account; contracts; copies of correspondence with
      tenants and suppliers; receipts for deposits; unpaid bills and other
      non-confidential papers or documents which pertain to the Property; all
      advertising materials, booklets, keys and other items, if any, used in the
      operation of the Property; and, if in LMLP’s possession or control, the original
“as-built” plans and specifications and all other available plans and
      specifications.

     

    4.4           Closing
      Costs.  Premiums for any title policy, costs of surveys and UCC
      searches, transfer taxes, recording fees, loan assumption or transfer fees
      and
      escrow fees, if any, and other

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    closing
      costs shall be paid by the Partnership; provided, however, that each Party
      shall
      pay its own legal fees incurred with this Agreement.

     

    4.5           Prorations
      and Adjustments.  The parties, acting in good faith, will attach
      to Schedule 1, at each Closing, a calculation of prorations and other
      adjustments taken into account in determining the Contribution Value with
      respect to the applicable Contributed Asset.  It is understood and
      agreed by the Parties that as of each Closing, some of the prorations and their
      adjustments may be based upon estimates.  The Parties agree to
      reprorate and readjust such items on a fair and equitable basis as soon as
      invoices or other bills are available and after final reconciliation with
      tenants, with final adjustment to be made as soon as reasonably possible after
      a
      Closing, to the effect that the income and expenses are received and paid on
      an
      accrual basis by the applicable LMLP Contribution Affiliate and the Partnership
      with respect to the pre- and post-contribution periods,
      respectively.  Payments either from or to the applicable LMLP
      Contribution Affiliate or the Partnership, as the case may be, in connection
      with the final adjustment shall be due within thirty (30) days after a
      determination of such final adjustment and Schedule 1 will be amended
      accordingly.  To the extent delinquent rents are received after a
      Closing, they shall be applied to current rents due and then to arrearages
      in
      the reverse order in which they were due, remitting to the applicable LMLP
      Contribution Affiliate any rent properly allocated to the pre-contribution
      period.

     

    ARTICLE
      5

     

    INDEMNIFICATION

     

    5.1           LMLP
      Indemnity.  LMLP agrees to indemnify, defend and hold the
      Partnership harmless of and from any liability, claim, demand, loss, expense
      or
      damage (collectively, “loss”) suffered by the Partnership arising from
      any act or omission of, or any breach of obligations by, LMLP or any Owner
      (if
      applicable), or an agent, employee or contractor of the foregoing, (i) occurring
      during LMLP’s or such Owner’s (if applicable) period of ownership before a
      Closing; or (ii) arising from any breach or inaccuracy of LMLP’s representations
      and warranties in Article 2 or any breach by LMLP of a obligation under
      this Agreement.  Notwithstanding anything in the foregoing to the
      contrary, (i) LMLP shall not be required to indemnify the Partnership under
      this
Article V or Article V of the Purchase Agreement unless the
      aggregate of all losses hereunder and under Article V of the Purchase
      Agreement exceeds $250,000, and in such event the amount of losses so
      indemnified by LMLP hereunder or under the Purchase Agreement, in the aggregate,
      shall not exceed $50,000,000.

     

    5.2           Survival.  The
      indemnities set forth in this Article 5 shall survive for a period of
      thirty (30) months from the date first set forth above.

     

    5.3           Procedure.  The
      following provisions govern all actions for indemnity under this Article
      5 and any other provision of this Agreement, other than Section
      7.2.  Promptly after receipt by an indemnitee of notice of any
      claim, such indemnitee will, if a claim in respect thereof is to be made against
      the indemnitor, deliver to the indemnitor written notice thereof and the
      indemnitor shall have the right to participate in and, if the indemnitor agrees
      in writing that it will be responsible for any costs, expenses, judgments,
      damages, and losses incurred by the indemnitee with respect to such claim,
      to
      assume the defense thereof, with counsel mutually

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    satisfactory
      to the parties; provided, however, that an indemnitee shall have the right
      to
      retain its own counsel, with the fees and expenses to be paid by the indemnitor,
      if the indemnitee reasonably believes that representation of such indemnitee
      by
      the counsel retained by the indemnitor would be inappropriate due to actual
      or
      potential differing interests between such indemnitee and any other party
      represented by such counsel in such proceeding.  The failure of
      indemnitee to deliver written notice to the indemnitor within a reasonable
      time
      after indemnitee receives notice of any such claim shall relieve such indemnitor
      of any liability to the indemnitee under this indemnity only if and to the
      extent that such failure is prejudicial to its ability to defend such action,
      and the omission so to deliver written notice to the indemnitor will not relieve
      it of any liability that it may have to any indemnitee other than under this
      indemnity.  If an indemnitee settles a claim without the before
      written consent of the indemnitor, then the indemnitor shall be released from
      liability with respect to such claim unless the indemnitor has unreasonably
      withheld such consent.

     

    ARTICLE
      6

     

    MISCELLANEOUS

     

    6.1           Survival.  The
      representations and warranties contained in this Agreement and the provisions
      of
      this Agreement that contemplate performance after a Closing shall survive only
      for a period of thirty (30) months from the date first set forth above, and
      the
      Partnership shall have the right to bring an action thereon only if it has
      given
      LMLP written notice of such claim within such thirty (30) month period in
      accordance with the provisions of Section 6.6.

     

    6.2           Additional
      Actions and Documents.  Each of the parties hereto hereby agrees
      to take or cause to be taken such further actions, to execute, deliver and
      file
      or cause to be executed, delivered and filed such further documents, and will
      obtain such consents, as may be necessary or as may be reasonably requested
      in
      order to fully effectuate the purposes, terms and conditions of this
      Agreement.

     

    6.3           Entire
      Agreement; Amendment.  This Agreement, including the Exhibits and
      other documents referred to herein or furnished pursuant hereto, constitute
      the
      entire agreement among the parties hereto with respect to the transactions
      contemplated herein, and supersede all prior oral or written agreements,
      commitments or understandings with respect to the matters provided for herein;
      provided, that nothing in this Section 6.3 shall have any effect
      on any other agreements.  Without limiting the foregoing, except as
      expressly provided otherwise herein, the contributions of Contributed Assets
      pursuant hereto shall be subject to the terms and conditions of the Partnership
      Agreement.  No amendment, modification or discharge of this Agreement
      shall be valid or binding unless set forth in writing and duly executed and
      delivered by the party against whom enforcement of the amendment, modification,
      or discharge is sought.

     

    6.4           Notices.  All
      notices, demands, requests, or other communications which may be or are required
      to be given, served, or sent by any party to any other party pursuant to this
      Agreement shall be in writing and shall be hand delivered, sent by overnight
      courier or mailed by first-class, registered or certified mail, return receipt
      requested, postage prepaid, or transmitted by facsimile, telegram, telecopy
      or
      telex, addressed as set forth in the Partnership Agreement. Notices may be
      given
      by counsel to the parties.  Each party may designate by notice in
      writing a

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    new
      address to which any notice, demand, request or communication may thereafter
      be
      so given, served or sent.  Each notice, demand, request or
      communication which shall be hand delivered, sent, mailed, faxed, telecopied
      or
      telexed in the manner described above, or which shall be delivered to a
      telegraph company, shall be deemed sufficiently given, served, sent, received
      or
      delivered for all purposes at such time as it is delivered to the addressee
      (with the return receipt, the delivery receipt, the confirmation receipt (with
      respect to a facsimile), or (with respect to a telecopy or telex) the answerback
      being deemed conclusive, but not exclusive, evidence of such delivery) or at
      such time as delivery is refused by the addressee upon
      presentation.

     

    6.5           Waivers.  No
      delay or failure on the part of any party hereto in exercising any right, power
      or privilege under this Agreement or under any other documents furnished in
      connection with or pursuant to this Agreement shall impair any such right,
      power
      or privilege to be construed as a waiver of any default or any acquiescence
      therein.  No single or partial exercise of any such right, power or
      privilege shall preclude the further exercise of such right, power or privilege,
      or the exercise of any other right, power or privilege.  No waiver
      shall be valid against any party hereto unless made in writing and signed by
      the
      party against whom enforcement of such waiver is sought and then only to the
      extent expressly specified therein.

     

    6.6           Counterparts.  This
      Agreement may be executed in counterparts, each of which shall be deemed an
      original, but all of which together shall constitute one and the same
      instrument.

     

    6.7           Governing
      Law.  This Agreement, the rights and obligations of the parties
      hereto, and any claim or disputes relating thereto, shall be governed by and
      construed in accordance with the laws of the State of Delaware (excluding the
      choice of law rules thereof) except for actions affecting title to real
      property, in which case the laws of the State in which the real property is
      located shall apply.

     

    6.8           Assignment.  No
      party hereto shall assign its rights and/or obligations under this Agreement,
      in
      whole or in part, whether by operation of law or otherwise, without the prior
      written consent of the other parties hereto; provided, that the Partnership
      shall be entitled to assign its rights under this Agreement to an SP
      Subsidiary.

     

    6.9           No
      Third Party Beneficiaries.  This Agreement is solely for the
      benefit of the parties hereto, and no provision of this Agreement shall be
      deemed to confer any third party benefit; except that Inland is a third party
      beneficiary of Sections 1.1, 2.1, 2.2, 2.6,
2.7, 2.9, 2.10, 2.12, 2.13, 2.14,
      2.15, 3.1, 4.1 and 4.3 hereof.

     

    6.10           Severability.  If
      any provision of this Agreement shall be held invalid, illegal or unenforceable,
      the validity, legality or enforceability of the other provisions hereof shall
      not be affected thereby, and there shall be deemed substituted for the provision
      at issue a valid, legal and enforceable provision as similar as possible to
      the
      provision at issue.

     

    6.11           Attorneys’
      Fees  If either Party brings an action at law or
      equity  against the other in order to enforce the provisions of this
      Agreement or as a result of an alleged default under this Agreement, the
      prevailing party in such action shall be entitled to recover court costs and
      reasonable attorney's fees actually incurred from the other.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

     

    6.12           Waiver
      of Jury Trial.  TO THE EXTENT PERMITTED BY APPLICABLE LAW, THE
      PARTIES HEREBY IRREVOCABLY WAIVE ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY
      LEGAL
      PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY RELATED AGREEMENTS,
      OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.  THE PROVISIONS OF
      THIS SECTION 6.12 SHALL SURVIVE ANY TERMINATION OF THIS
      AGREEMENT.

     

    ARTICLE
      7

     

    OTHER
      AGREEMENTS OF THE PARTIES

     

    7.1           Parties’
      Recoveries.  To the extent assignable, LMLP hereby assigns, as of
      the applicable Closing, to the Partnership any and all rights and benefits
      of
      LMLP under any purchase agreements, certificates, reports, estoppel letters
      or
      similar items (collectively the “Acquisition Documents”) entered into or
      received by LMLP in connection with the acquisition of any
      Property.  Further, LMLP agrees to enforce such rights and benefits on
      behalf of the Partnership and any recoveries under any of the Acquisition
      Documents shall be for the benefit of the Partnership.  Any such
      recoveries shall be paid over to the Partnership (but such payment shall in
      no
      event be deemed a “Capital Contribution” (as defined in the Partnership
      Agreement) to the Partnership by such Party).  Notwithstanding the
      foregoing, if any recovery specifically relates to such Party’s period of
      ownership prior to the applicable Closing, such recovery may be retained by
      such
      Party and thereby shall be excluded from the foregoing assignment.

     

    7.2           LMLP
      Environmental Indemnity.  In the event the Partnership acquires
      the AEP Property hereunder, LMLP agrees to indemnify, defend and hold the
      Partnership harmless of and from any expense arising from the costs of any
      remediation arising from reportable events recommended by that certain Phase
      II
      Environmental Report with respect to the AEP
      Property.  Notwithstanding anything in the foregoing to the contrary,
      the amount of expenses so indemnified by LMLP, in the aggregate, shall not
      exceed $250,000.00, unless agreed to in writing by LMLP.

     

    (a)           The
      indemnities set forth in this Section 7.2 shall survive for a period of
      five (5) years from the date first set forth above.

     

    (b)           Promptly
      after receipt by the Partnership of notice of any indemnifiable expense, the
      Partnership will deliver to LMLP written notice thereof.

     

    

     

    [Signature
      Page Follows]

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
      executed on their behalf as of the date first above written.

     

     

    
      	 	THE
              LEXINGTON
              MASTER LIMITED PARTNERSHIP, a Delaware limited Partnership	 
	 	 	 
	 	By:	Lex
              GP-1 Trust, a
              Delaware statutory trust, its general partner	 
	 	 	 	 
	
               

            	
              By:
                

            	/s/ T.
              Wilson
              Eglin	 
	 	 	Name: 
T.
              Wilson Eglin 	 
	 	 	Title: 
              President 	 

    

    

     

    
      	
            	NET
              LEASE
              STRATEGIC ASSETS FUND L.P., a Delaware limited partnership	 
	 	 	 
	 	By:	LMLP
              GP, a
              Delaware limited partnership, its general partner	 
	 	 	 	 
	
               

            	
              By:
                

            	/s/ T.
              Wilson
              Eglin	 
	 	 	Name: 
T.
              Wilson Eglin 	 
	 	 	Title: 
              President 	 

      
 

    

    The
      undersigned LMLP Contribution Affiliates, severally and solely with respect
      to
      the Contributed Asset or Contributed Assets set forth opposite their respective
      name on Schedule 1 hereto, agree to contribute such Contributed Asset or
      Contributed Asset subject to and in accordance with the terms and conditions
      of
      this Agreement:

    

    
      	Lex-Property
              Holdings LLC	 
	 	 
	 	 	 
	
              By:
                

            	/s/ T.
              Wilson
              Eglin	 
	 	Name: 
T.
              Wilson Eglin 	 
	 	Title: 
              President 	 

    

     

     

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
              Newkirk
                Sablemart L.P.

            	 
	 	 
	By:	Newkirk
              Sablemart GP LLC	 
	 	 	 
	By:	Lex-Property
              Holdings LLC	 
	 	 	 
	
              By:
                

            	/s/ T.
              Wilson
              Eglin	 
	 	Name: 
T.
              Wilson Eglin 	 
	 	Title: 
              President 	 

       

    

    
      	
              Chader
                Associates LLC

            	 
	 	 
	 	 	 
	
              By:
                

            	/s/ T.
              Wilson
              Eglin	 
	 	Name: 
T.
              Wilson Eglin 	 
	 	Title: 
              Authorized Officer	 

       

    

    
      	Newkirk
              MLP Unit LLC	 
	 	 
	 	 	 
	
              By:
                

            	/s/ T.
              Wilson
              Eglin	 
	 	Name: 
T.
              Wilson Eglin 	 
	 	Title: 
              President 	 

    

    
 

    
 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    SCHEDULE
      1

     

    

    
      	
              Property

               

            	 	 	 	 	 	 	 	 
	
              Primary
                Tenant

               

            	
              Address

               

            	
              Net
                Prorations

              and
                Adjustments

               (See
                Attached) 

               

            	
              Contribution
                Value

               

            	
              Loans

               

            	
              Contributed
                Asset

               

            	
              LMLP
                Contribution Affiliate

               

            	
              Owner

               

            	
              GP
                Entity

               

            	
              Property
                Interest

               

            
	
              American
                Electric Power

            	
              420
                Riverport Road, Kingport, Tennessee

            	 	 	
              --

            	
              100%
                interest in Newkirk Elport GP LLC

              99%
                limited partnership interest in Newkirk Elport L.P.

            	
              Lex-Property
                Holdings LLC

              LMLP

            	
              Newkirk
                Elport L.P.

            	
              Newkirk
                Elport GP LLC

            	
              Fee
                interest

            
	
              Entergy
                Services, Inc.

            	
              5201
                W. Barraque Street, Pine Bluff, Arkansas

            	 	 	
              --

            	
              100%
                interest in Newkirk Bluff GP LLC

               

              99%
                limited partnership interest in Newkirk Bluff L.P.

            	
              Lex-Property
                Holdings LLC

               

              LMLP

            	
              Newkirk
                Bluff L.P.

            	
              Newkirk
                Bluff GP LLC

            	
              Fee
                interest

            
	
              Lithia
                Motors

            	
              101
                Creger, Fort Collins, Colorado

            	 	 	
              --

            	
              Fee
                title to Property

            	
              Newkirk
                Sablemart L.P.

            	
              Newkirk
                Sablemart L.P.

            	
              N/A

            	
              Fee
                interest

            
	
              Raytheon
                Company

            	
              1200
                Jupiter Road, Garland, Texas

            	 	 	
              --

            	
              1%
                general partner interest

              60%
                limited partnership interest in Eastgar Associates Limited
                Partnership

            	
              Chader
                Associates LLC

              Newkirk
                MLP Unit LLC

            	
              Eastgar
                Associates Limited Partnership(1)

            	
              N/A

            	
              Fee
                interest

            
	
              United
                Technologies Corp.

            	
              120
                S.E. Parkway Drive, Franklin, Tennessee

            	 	 	
              --

            	
              100%
                interest in Newkirk Syrcar GP LLC

               99%
                limited partnership interest in Newkirk Syrcar L.P.

            	
              Lex-Property
                Holdings LLC

              LMLP

            	
              Newkirk
                Syrcar L.P.

            	
              Newkirk
                Syrcar GP LLC

            	
              Ground
                lease

            
	
              Wachovia
                Bank, N.A.

            	
              265
                Lehigh Street, Allentown, Pennsylvania

            	 	 	
              --

            	
              100%
                interest in Newkirk Croydon GP LLC

              99%
                limited partnership interest in Newkirk Croydon L.P.

            	
              Lex-Property
                Holdings LLC

               

              LMLP

            	
              Newkirk
                Croydon L.P.

            	
              Newkirk
                Croydon GP LLC

            	
              Fee
                interest

            

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (1)           LMLP
      indirectly holds the sole general partner interest and a 60% limited partnership
      interest in Eastgar Associates Limited Partnership.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    SCHEDULE
      2

     

    

    Amended
      and Restated Sublease Agreement, dated January 15, 1985, between Newkirk Syrcar
      L.P. (as successor to Stemp Leasing Corp.) and Essex Group, Inc.,. as amended
      and assigned

     

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    SCHEDULE
      2.5

     

    ORGANIZATIONAL
      CHART

    

    [Intentionally
      Omitted From Filing]

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    SCHEDULE
      2.8

     

    RENT
      ROLL

    

    [Intentionally
      Omitted From Filing]

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    SCHEDULE
      4.2

    

    PERMITTED
      EXCEPTIONS

    

    American
      Electric Power - 420 Riverport Road, Kingport,
      Tennessee

     

    

    

    Entergy
      Services, Inc. - 5201 W. Barraque Street, Pine Bluff,
      Arkansas

    

    

    1.           General
      Taxes for the year 2007 and thereafter, which are not yet due and
      payable.

    (a)

    

    2.           Right
      of
      Way Permit dated June 30, 1924 by L.E. Cheek and Belle Chek, his wife, to
      Arkansas Light & Power Company dated June 30, 1924 and filed July 12, 1924
      in Contract and Agreement Book 8 Page 62 in the Jefferson County Circuit Clerk’s
      Office.  (f)

    

    3.          Easements,
      restrictions and conditions contained in the Warranty Deed from ArkansasPower
      and Light Company to Middle South Services, Inc. dated April 14, 1971 and filed
      April 16, 1971 in Deed Book 400 Page 20 in the Jefferson County Circuit Clerk’s
      Office.  (g) 

    4.           Agreement
      entered into by and between Arkansas Power & Light Company and MiddleSouth
      Services, Inc. dated September 25, 1973 and filed October 25, 1973 in Contract
      and Agreement Book 30 Page 584 in the Jefferson County Circuit Clerk’s
      Office.  (h)

    

     

    Lithia
      Motors -101 Creger, Fort Collins, Colorado

     

     

    
      	
               

            	
              1.

            	
              All
                taxes not yet due and
                payable.  (6)

            

    

     

    
      	
               

            	
              2.

            	
              Covenants,
                conditions, and restrictions as contained in instrument recorded
                August 6,
                1997 in Book 1975 at Page 59 and as amended by First Amendment to
                Declaration of Protective Covenants and Restriction recorded December
                17,
                1979 in Book 2012 at Page 637, and any and all amendments and/or
                supplements thereto.
                (7)

            

    

     

    
      	
              3.

            	
              Right
                of way agreement between College Avenue Properties, Ltd., a Colorado
                corporation and the DLL/ City of Fort Collins, dated September 23,
                1971
                and recorded December 2, 1971 in Book 1484 at Page
                967.  (8)

            

    

     

    
      	
               

            	
              4.

            	
              Easement
                for access and utilities granted to the City of Fort Collins in instrument
                recorded November 27, 1981 in Book 2143 at Page 590.
                (9)

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
               

            	
              5.

            	
              Terms
                and provisions of Option to Lease, Sale, and Allocation Agreement
                recorded
                January 23, 1983 in Book 2204 at Page 687, and Amendment thereto
                recorded July 31, 1996 at Reception No.
                96054930.  (10)

            

    

     

    
      	
               

            	
              6.

            	
              Effect
                of Notice of Final P.U.D. recorded February 7, 1997 at Reception No.
                97008171.  (11)

            

    

     

    
      	
               

            	
              7.

            	
              Terms,
                agreements, provisions, conditions and obligations as contained in
                Site
                and Landscape Covenants recorded February 7, 1997 at Reception No.
                97008172.  (12)

            

    

     

    
      	
               

            	
              8.

            	
              Notes,
                easements and other matters as shown or set forth on the plat of
                Creger
                Plaza Second Replat, recorded March 17, 1982 at Reception No.
                450747.  (13)

            

    

     

    

    

    Raytheon
      Company - 1200 Jupiter Road, Garland, Texas

     

    
      	
               

            	
              1.

            	
              All
                taxes not yet due and
                payable.  (5)

            

    

     

    
      	
               

            	
              2.

            	
              Twenty
                foot fire lane easement as shown on the plat recorded in Volume 80246,
                page, 1085, affecting Tracts 1 and 2.  The fire lane easement is
                depicted on Lot 1, Block 1, and is a 20 foot strip of land running
                North
                773.25 feet, East-West 917 feet, and South 773.25
                feet.  (10c)

            

    

     

    
      	
               

            	
              3.

            	
              Easement
                granted by E-Systems, Inc. to the City of Garland, recorded December
                18,
                1980 in Volume 80246, page 1082, affecting Tracts 1 and 3.  The
                easement is for the City to use for the purpose of ingress and egress
                during any emergency where it is reasonably necessary for emergency
                vehicles and the City’s personnel to enter the premises to protect the
                grantor’s property and people’s lives.  Grantor will keep the
                easement area free of all obstructions, but may erect chain link
                fence
                gates.  Grantee may remove such gates or fences without
                liability during an emergency.  The easement area is not stated
                with specificity, nor is there a plat or exhibit attached.  A
                depiction of the fire lane easement may be found in the final plat
                E-Systems, Garland, a subdivision of part of the Benjamin Dye Survey,
                Abstract 415, dated November 1980.  This plat is the plat
                discussed above, therefore this easement is the same easement discussed
                above.  (10d)

            

    

     

    
      	
               

            	
              4.

            	
              Declaration
                of Easement between E-Systems, Inc., Eastgar Associates Limited
                Partnership and Jerome S. Serchuck, dated December 23, 1980 and recorded
                in Volume 80251, page 1784; as amended by the Amendment to Declaration
                of
                Easement recorded May 14, 1981 in Volume 81094, page 2694, affecting
                Tracts 1, 2, and
                3.  (10e)

            

    

     

     

    United
      Technologies Corp. - 120 S.E. Parkway Drive, Franklin,
      Tennessee

    
 

    Wachovia
      Bank, N.A. - 265 Lehigh Street, Allentown,
      Pennsylvania

    

    
      	
              1.

            	
              All
                taxes not yet due and payable.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              2.

            	
              Urban
                renewal Plan for Little General Neighborhood Renewal Project Area
                as
                recorded in Misc. Book 354 page 455, as amended by Amendment recorded
                in
                Misc. Book 419 page 312.

            

    

     

    
      	
              3.

            	
              Assignment
                and Assumption Agreement between The First National Bank of Allentown
                and
                Croydon Associates recorded in Misc. Book 423 page
                547.

            

    

     

    
      	
              4.

            	
              Assignment
                (of contract of sale) from Croydon Associates to Lehigh County Industrial
                Development Authority recorded in Misc. Book 423 page
                553.

            

    

     

    
      	
              5.

            	
              Memorandum
                of Installment Sales Agreement Lehigh County Industrial Development
                Authority to Croydon Associates recorded in Misc. Book 423 page
                558.  Assignment of Installment Sales Agreement to The
                Philadelphia National Bank recorded in Misc. Book 423 page
                563.

            

    

     

    
      	
              6.

            	
              Memorandum
                of Assignment to Construct and Lease from Croydon Associates to First
                National Bank of Allentown recorded in Misc. Book 423 page 576, as
                amended
                in Misc. Book 436 page 444.

            

    

     

    
      	
              7.

            	
              Rights
                granted to Bell Telephone Company of Pennsylvania as in Misc. Book
                435
                page 318.

            

    

     

    
      	
              8.

            	
              Rights
                granted to Pennsylvania Power and Light Company as in Misc. Book
                425 at
                pages 68 and 71.

            

    

     

    
      	
              9.

            	
              Terms
                and conditions of Lease to The First National Bank of Allentown as
                recorded in Misc. Book 435 page 867, as amended in Misc. Book 436
                page
                381.

            

    

     

    

    

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Exhibit
      A

     

    GROUND
      LEASE ESTOPPEL CERTIFICATE FORM

    

    

    TO:                 __________________________________

    c/o
      _______________________________

    __________________________________

    __________________________________

     

    

    

    
      	
               

            	
              Re:

            	
              Proposed
                purchase of leasehold interest in property located at
                __________________________, _________, __________ (the "Property")
                pursuant to a Ground Lease dated ______________, ___________("Prime
                Lease") between the undersigned ("Landlord") and _________________________
                ("Tenant") by virtue of that certain Contribution/Purchase and Sale
                Agreement between __________________ and ________________________
                ("Purchaser") dated August __, 2007

            

    

    

    Ladies
      and Gentlemen:

    

    The
      following statements are made with the knowledge that Purchaser is relying
      on
      them in connection with the purchase and assignment of the Tenant's interest
      in
      the Prime Lease and, in connection therewith, Purchaser and Tenant and their
      respective lenders, successors and assigns (collectively, the "Beneficiaries")
      may rely on them for that purpose.

     

    The
      undersigned hereby certifies to Purchaser and the other Beneficiaries that
      the
      following statements are true, correct and complete as of the date
      hereof:

     

    1.           The
      Prime Lease is presently in full force and effect and Tenant is not in default
      thereunder beyond any applicable notice or cure period.  To the
      knowledge of the undersigned, no event has occurred that with the giving of
      notice or the passage of time, or both, would constitute a default under the
      Prime Lease.

    

    2.           The
      documents constituting the Prime Lease, as described on Exhibit A attached
      hereto, constitute the entire agreement between Landlord and Tenant and there
      has been no amendment, written or oral, to the Prime Lease except as included
      in
      Exhibit A.

    

    3.           The
      term of the Prime Lease commenced on _______________, ____ and, unless sooner
      terminated in accordance with its terms, the term will end on ____________,
      with
      options to extend for successive periods of _______ years
      each.  Except the foregoing options to extend, if any, there are no
      termination options, purchase options or rights of first refusal regarding
      the
      Property except as set forth in the Prime Lease.

    

    4.           Tenant
      has not made any payment to Landlord as a security deposit or rental
      deposit.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    5.           To
      the knowledge of the undersigned, Tenant has not entered into any sublease,
      assignment or any other agreement transferring any of its interest in the Prime
      Lease or the Premises, other than ____________________________________ as
      (sub)tenant.

    

    6.           All
      exhibits attached hereto are by this reference incorporated fully
      herein.

    

    7.           The
      undersigned is duly authorized to execute and deliver this estoppel
      certificate.

    

    8.           This
      estoppel certificate is binding upon the undersigned and its successors and
      assigns and may be relied upon by Purchaser and the other Beneficiaries, and
      if
      any mortgage loan encumbering the Property becomes the subject of any
      securitization, may also be relied upon by the credit rating agency, if any,
      rating the securities collateralized by the mortgage loan as well as any issuer
      of such securities and any servicer and/or trustee acting in respect of such
      securitization.

    EXECUTED
      as of the   day of  , 2007.

    

    

    _________________________________

    

    By:______________________________                                                                

    Name: ___________________________                                                               

    Title: ____________________________                                                               

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
      A TO GROUND LEASE ESTOPPEL

    

    PRIME
      LEASE DOCUMENTS

    

    

    [insert
      appropriate document list]

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Exhibit
      B

     

    TENANT
      ESTOPPEL CERTIFICATE FORM

    

    To:                                                                                          
      (the “Purchaser”)

    c/o
      Lexington Realty Trust

    One
      Penn
      Plaza, Suite 4015

    New
      York,
      New York 10119

    

    Re:           

    

    Ladies
      and Gentlemen:

    

    The
      following statements are made with
      the knowledge that Purchaser, and any party providing financing secured by
      the
      Property (together with its successors and assigns, the “Lender”) are relying on
      them in connection with your purchase of the Property and the assignment to
      you
      of the lease referred to below in connection therewith, and you and your
      successors and assigns and successor owners of the Property as well as Lender
      and the current Landlord (as hereafter defined) may rely on them for all
      purposes.

    

    The
      undersigned (“Tenant”), being the
      Tenant under the lease referred to in Paragraph 1 below and attached hereto
      as
      Schedule 1, covering certain premises (“Leased Premises”) at the Property,
      hereby certifies to you that the following statements are true, correct and
      complete as of the date hereof:

    

    1.           Tenant
      is the tenant under a lease currently with _____________________, as landlord
      (“Landlord”), dated _____________________ demising to Tenant approximately
      __________________ square feet at the Property, a true, correct and complete
      copy of which is attached hereto as Schedule 1. The initial term of the lease
      commenced on _____________________, and will expire on __________________,
      exclusive of unexercised renewal options and extension options contained in
      the
      lease. There have been no amendments, modifications or revisions to the lease,
      and there are no agreements of any kind between Landlord and Tenant regarding
      the Leased Premises, except as provided in the lease or except as set forth
      on
      Schedule 1.

    

    The
      lease, and all amendments and other
      agreements referred to above, are referred to in the following portions of
      this
      letter collectively as the “Lease.”

    

    2.           The
      Lease has been duly authorized and executed by Tenant and is in good standing
      and in full force and effect.

    

    3.           Tenant
      has accepted and is presently occupying the Leased Premises. Neither the Lease
      nor any interest in it has been assigned, transferred, or mortgaged by Tenant,
      and no sublease, concession agreement or license covering the Leased Premises,
      or any portion of the Leased Premises, has been entered into by Tenant, except
      as follows: (if none, write “none”):________.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    4.           Tenant
      is currently obligated to pay fixed or base rent under the Lease in the annual
      amount of _____________________________ and __/100 Dollars ($___________),
      payable in monthly installments of ____________________________ and __/100
      Dollars ($_____________).  Rent has been paid under the Lease through
      June 30, 2007 and no sums have been prepaid to Landlord, either as the last
      month’s rent or otherwise, except as follows: (if none, write
“none”):None.

    

    No
      sums
      have been deposited with Landlord other than ___________________ Dollars
      ($___________) deposited as security under the Lease.  Except as
      specifically stated in the Lease, Tenant is entitled to no rent concessions,
      free rent, allowances or other similar compensation in connection with renting
      the Leased Premises. There is currently no work in progress at the Leased
      Premises by either Tenant or the Landlord nor is there any work on the Leased
      Premises currently required of Landlord.

    

    5.           To
      Tenant’s knowledge, neither Landlord nor Tenant is in default under the Lease
      beyond any applicable cure period and, to Tenant’s knowledge, no event has
      occurred which, with the giving of notice or passage of time, or both, could
      result in such a default. Tenant has no knowledge of any setoffs, claims or
      defenses to enforcement of the Lease in accordance with its terms.

    

    Landlord
      under the Lease is in full
      compliance therewith and specifically there exists no default under the
      Lease.

    

    6.           Without
      limiting the generality of the statement made in Paragraph 1 above, except
      as
      specifically stated in the Lease, Tenant has not been granted: (a) any option
      to
      extend the term of the Lease; (b) any option to expand the Leased Premises
      or to
      lease additional space within the Property; (c) any right of first refusal
      on
      any space at the Property; or (d) any option to terminate the Lease prior to
      its
      stated expiration.

    

    7.           Tenant
      has not been granted any option or right of first refusal to purchase the Leased
      Premises or the Property or any part thereof, except as set for in Section
      ___ of the Lease.

    

    8.           Neither
      Tenant nor any guarantor of Tenant is the subject of any bankruptcy,
      reorganization, insolvency, readjustment of debt, dissolution or liquidation
      proceeding, and to the best knowledge of Tenant no such proceeding is
      contemplated or threatened.

    

    9.           Tenant
      has not received any notice of any threatened or pending condemnation, eminent
      domain or other taking of the Leased Premises

    

    Executed
      this _____ day of ____________________, 2007.

    

    TENANT:

    

    
      	
               

            	
              ___________________,
                a___________

            

      	 	 

      	 	By:
              ________________________________

    

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
            	Its:_________________________________

      

    

     

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    SCHEDULE
      1 TO

    TENANT
      ESTOPPEL CERTIFICATE FORM - GENERAL

    

    LEASE

    

    

    

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Exhibit
      C

    

    FORM
      OF ASSIGNMENT OF LEASEHOLD INTEREST

     

    UPON
      RECORDING, PLEASE RETURN TO:

     

    
 

    ASSIGNMENT
      AND ASSUMPTION OF LEASE AGREEMENT

     

    THIS
      ASSIGNMENT AND ASSUMPTION OF LEASE AGREEMENT (this “Assignment”) is made
      as of [      ] [  ], 2007 between
      [________________], a [____________________] (“Assignor”), and Net Lease
      Strategic Assets Fund L.P., a Delaware limited partnership (the
“Assignee”).

     

    WHEREAS,
      Assignee is the ground lessee pursuant to that certain [define ground lease
      agreement] (together with any and all modifications, extensions, replacements,
      amendments, renewals and assignments thereof are collectively referred to herein
      as the “Lease”) relating to certain real property and the improvements
      thereon (the real property and improvements thereon collectively referred to
      as
      the “Property”) located in [___________] more particularly described on
Exhibit A attached hereto and incorporated herein by
      reference;

     

    WHEREAS,
      Assignor now desires to assign to Assignee the Assignor’s leasehold interest in
      and to the Property, together with all other rights, title and interest existing
      under the Lease, including, but not limited to, all of Assignor’s right, title
      and interest as tenant under the Lease; and

     

    WHEREAS,
      Assignee, in consideration of Assignor’s assignment, has, except as set forth
      herein, agreed to assume the obligations and duties of Assignor existing under
      the Lease as tenant under the Lease arising from and after the date
      hereof.

     

    NOW,
      THEREFORE, in consideration of TEN DOLLARS and NO/100THS ($10.00), and other
      good and valuable consideration, the receipt and sufficiency of which are hereby
      acknowledged, Assignor and Assignee hereby agree as follows:

     

    1.           Assignment
      of Lease.  Assignor hereby assigns, transfers and sets over to
      Assignee all of Assignor’s right, title and interest as tenant under the Lease,
      together with all credits, deposits, rights of refusal, options (including,
      but
      not limited to, any options to purchase or renew set forth in the Lease),
      benefits, privileges and rights of Assignor under the Lease.

     

    
      
         

         

      

      
         

        
          

        

      

      
         

      

    

    2.           Assumption
      of Lease Obligations.  Assignee hereby accepts the assignment set forth
      in Section 1 above, and further agrees to assume all of the obligations
      of Assignor under the Lease arising from and after the date hereof.

     

    3.           Indemnity.

     

    (a)           Assignor
      hereby agrees to indemnify and hold harmless Assignee from any and all
      liability, loss, cost, damage or expense (including, without limitation,
      reasonable attorneys’ fees) which Assignee incurs under the Lease, and from any
      and all claims and demands whatsoever which are asserted against Assignee by
      reason of any alleged obligation or undertaking on its part to perform or
      discharge any of the terms, covenants or agreements contained therein, which
      liability, loss, cost, damage, expense, claim or demand arises from acts, events
      or omissions accruing on or before the Effective Date.  If Assignee
      incurs any such liability, loss, cost, damage or expense under the Lease or
      in
      defense against any such claims or demands, the amount thereof (including costs,
      expenses and reasonable attorneys’ fees) together with interest thereon at the
      rate of ten percent (10%) per annum from the date any payment is made, shall
      be
      reimbursed to Assignee by Assignor immediately upon demand.

     

    (b)           Assignee
      hereby agrees to indemnify and hold harmless Assignor from any and all
      liability, loss, cost, damage or expense (including, without limitation,
      reasonable attorneys’ fees) which Assignor incurs under the Lease, and from any
      and all claims and demands whatsoever which are asserted against Assignor by
      reason of any alleged obligation or undertaking on its part to perform or
      discharge any of the terms, covenants or agreements contained therein, which
      liability, loss, cost, damage, expense, claim or demand arises from acts, events
      or omissions accruing after the Effective Date provided not in any way
      attributable to Assignor.  If Assignor incurs any such liability,
      loss, cost, damage or expense under the Lease or in defense against any such
      claims or demands, the amount thereof (including costs, expenses and reasonable
      attorneys’ fees) together with interest thereon at the rate of ten percent (10%)
      per annum from the date any payment is made, shall be reimbursed to Assignor
      by
      Assignee immediately upon demand.

     

    (c)           The
      indemnity provisions of Sections 3 herein shall survive for a period of thirty
      (30) months from the date hereof, and any claim made thereunder must be made
      within such thirty (30) month period.

     

    3.           Assumption
      of Lease Obligations.  Assignee hereby accepts the assignment set
      forth in Section 1 above, and further agrees to assume all of the
      obligations of Assignor under the Lease arising from and after the date
      hereof.

     

    4.           Further
      Assurances.  The parties hereby agree to execute such other
      documents and perform such other acts as may be reasonably necessary or
      desirable to carry out the intents and purposes of this Assignment.

     

    
      
         

         

      

      
         

        
          

        

      

      
         

      

    

    5.           Governing
      Law.  This Assignment shall, in all respects, be governed,
      construed, applied, and enforced in accordance with the law of the State of
      [_________] without giving effect to the conflict of law principles
      thereof.

     

    6.           Binding
      Effect.  This Assignment shall be binding upon, and shall inure to
      the benefit of, the parties hereto and their respective heirs, successors and
      assigns.

     

    7.           Execution
      in Counterparts.  This Assignment may be executed in any number of
      counterparts, each of which shall be deemed to be an original, and all of such
      counterparts shall constitute one Assignment.

     

    
      
          

         

      

      
         

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF, the parties hereto have caused this Assignment to be
      signed as of the date first above written.

     

    
      	 	“ASSIGNOR”	 
	 	 	 	 
	 	[____________________]	 
	 	 	 	 
	 	 	 	 
	
               

            	
              By:
                

            	 	 
	 	 	Name: 	 
	 	 	Title: 	 
	 	 	 	 

     

    
      	
              State
                of New York

            	
              )

            	
               

            
	
               

            	
              )

            	
              ss.:

            
	
              County
                of . . . . . . .

            	
              )

            	
               

            

    

     

         On
      the . . . . . . day of . . . . . . in the year . . . . . . before me, the
      undersigned, personally appeared . . . . . ., personally known to me or proved
      to me on the basis of satisfactory evidence to be the individual(s) whose
      name(s) is (are) subscribed to the within instrument and acknowledged to me
      that
      he/she/they executed the same in his/her/their capacity(ies), and that by
      his/her/their signature(s) on the instrument, the individual(s), or the person
      upon behalf of which the individual(s) acted, executed the
      instrument.

     

    

    WITNESS
      my hand, at office, this ____
      day of _________, 2007.

    

    
      	
               

            	
              _____________________________

            

    

    
      	
               

            	
              Notary
                Public

            

    

     

     

    My
      Commission Expires:

     

    ________________________

     

    

     

    [Signatures
      continue on next page.]

     

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

     

    
      	 	"ASSIGNEE"	 
	 	 	 	 
	 	
              NET
                LEASE STRATEGIC ASSETS FUND L.P., a Delaware limited
                partnership

            	 
	 	 	 	 
	 	By:	
              LMLP
                GP LLC, it general partner

            	 
	 	 	 	 
	
               

            	
              By:
                

            	 	 
	 	 	Name:	 
	 	 	Title: 	 
	 	 	 	 

    
      	
              State
                of New York

            	
              )

            	
               

            
	
               

            	
              )

            	
              ss.:

            
	
              County
                of . . . . . . .

            	
              )

            	
               

            

    

     

         On
      the . . . . . . day of . . . . . . in the year . . . . . . before me, the
      undersigned, personally appeared . . . . . ., personally known to me or proved
      to me on the basis of satisfactory evidence to be the individual(s) whose
      name(s) is (are) subscribed to the within instrument and acknowledged to me
      that
      he/she/they executed the same in his/her/their capacity(ies), and that by
      his/her/their signature(s) on the instrument, the individual(s), or the person
      upon behalf of which the individual(s) acted, executed the
      instrument.

     

    

    WITNESS
      my hand, at office, this ____
      day of _________, 2007.

    

    
      	
               

            	
              _____________________________

            

    

    
      	
               

            	
              Notary
                Public

            

    

     

    My
      Commission Expires:

     

    ________________________

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    EXHIBIT
      A TO ASSIGNMENT

    

    LEGAL
      DESCRIPTION

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Exhibit
      D

     

    FORM
      OF ASSIGNMENT OF INTEREST

     

    ASSIGNMENT
      OF INTEREST

     

    THIS
      ASSIGNMENT OF INTEREST (this “Assignment”) is made as of
      [      ] [  ], 2007 between The
      Lexington Master Limited Partnership, a Delaware limited partnership
      (“Assignor”), and Net Lease Strategic Assets Fund L.P., a Delaware
      limited partnership (the “Partnership”).

     

    WHEREAS,
      Assignor is the owner of a 100% [TYPE OF INTEREST] in [ENTITY] (the
“Interest”); and

     

    WHEREAS,
      Assignor desires to assign, transfer and convey all of its right, title and
      interest in the Interest to the Partnership.

     

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

     

    1.           Assignment.  Assignor
      hereby assigns, transfers and sets over to the Partnership the Interest
      including all capital relating thereto and profits derived therefrom, in each
      case, free of liens, security interests and encumbrances.  The
      Partnership hereby accepts such assignment, and assumes all of Assignor’s
      duties, obligations and rights relating to the Interest on and after the date
      hereof subject to the terms of the [limited liability company] [limited
      partnership] agreement of [ENTITY].

     

    2.           Parties
      Bound.  No party may assign this Assignment without the prior
      written consent of the other party, and any such prohibited assignment shall
      be
      void.  Subject to the foregoing, this Assignment shall be binding upon
      and inure to the benefit of the respective legal representatives, successors,
      assigns, heirs, and devisees of the parties.

     

    3.           Governing
      Law.  This Assignment shall, in all respects, be governed,
      construed, applied, and enforced in accordance with the law of the State of
      Delaware without giving effect to the conflict of law principles
      thereof.

     

    4.           Time.  Time
      is of the essence in the performance of this Assignment.

     

    5.           Execution
      in Counterparts.  This Assignment may be executed in any number of
      counterparts, each of which shall be deemed to be an original, and all of such
      counterparts shall constitute one Assignment.  To facilitate execution
      of this Assignment, the parties may execute and exchange by telephone facsimile
      counterparts of the signature pages.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF, the parties hereto have caused this Assignment to be
      signed as of the date first above written.

     

    

    
      	 	
              THE
                LEXINGTON MASTER LIMITED PARTNERSHIP, a Delaware limited
                partnership

            	 
	 	 	 	 
	 	By:	
              Lex
                GP-1 Trust, its general partner

            	 
	 	 	 	 
	
              Date

            	
              By:
                

            	 	 
	 	 	Name: 	 
	 	 	Title: 	 
	 	 	 	 

    

     

    
      	
            	
              
                NET
                  LEASE STRATEGIC ASSETS FUND L.P., a Delaware limited
                  partnership

              

            	 
	 	 	 	 
	 	By:	
              
                LMLP
                  GP LLC, it general partner

              

            	 
	 	 	 	 
	
              Date

            	
              By:
                

            	 	 
	 	 	Name: 	 
	 	 	Title: 	 
	 	 	 	 

    

     

     

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Exhibit
      E

    

    

    ASSIGNMENT
      AND ASSUMPTION OF LEASE

     

    

     

    THIS
      ASSIGNMENT AND ASSUMPTION OF LEASE is made this _____ day of ____________,
      200,
      by and between _______________________________ (“Assignor”), and
      __________________________________ (“Assignee”), with reference to the following
      facts:

     

    A.           Assignor,
      as lessor, has entered into the lease described on Exhibit A attached
      hereto (collectively, the “Lease”) covering certain premises located upon that
      certain parcel of real property situated in the more particularly described
      in
Exhibit B attached hereto.

     

    B.           Pursuant
      to the terms of that certain Contribution Agreement entered into by Assignor
      and
      Assignee, dated as of August 10, 2007 (the “Agreement”), Assignor now desires to
      assign and transfer to Assignee all of Assignor’s interest as lessor in the
      Lease, subject to the rentals, terms, covenants, obligations, easements and
      restrictions set forth therein.

     

    NOW
      THEREFORE, in consideration of the mutual covenants and conditions herein below
      set forth, it is agreed:

     

    1.           Effective
      as of the date hereof (the “Effective Date”), Assignor assigns and transfers to
      Assignee, all of Assignor’s right, title and interest as landlord, accruing
      after the Effective Date, in and to the Lease, subject to the rentals, terms,
      covenants, obligations, easements and restrictions set forth in the
      Lease.

     

    2.           Assignee
      hereby accepts the assignment of the Lease as of the Effective Date, shall
      be
      entitled to all rights and benefits accruing to the landlord thereunder and
      hereby assumes all obligations thereunder and agrees to be bound by the terms
      of
      the Lease, from and after the Effective Date.

     

    3.           Assignor
      hereby agrees to indemnify and hold harmless Assignee from any and all
      liability, loss, cost, damage or expense (including, without limitation,
      reasonable attorneys’ fees) which Assignee incurs under the Lease, and from any
      and all claims and demands whatsoever which are asserted against Assignee by
      reason of any alleged obligation or undertaking on its part to perform or
      discharge any of the terms, covenants or agreements contained therein, which
      liability, loss, cost, damage, expense, claim or demand arises from acts, events
      or omissions accruing on or before the Effective Date.  If Assignee
      incurs any such liability, loss, cost, damage or expense under the Lease or
      in
      defense against any such claims or demands, the amount thereof (including costs,
      expenses and reasonable attorneys’ fees) together with interest thereon at the
      rate of ten percent (10%) per annum from the date any payment is made, shall
      be
      reimbursed to Assignee by Assignor immediately upon demand.

     

    4.           Assignee
      hereby agrees to indemnify and hold harmless Assignor from any and all
      liability, loss, cost, damage or expense (including, without limitation,
      reasonable attorneys’ fees) which Assignor incurs under the Lease, and from any
      and all claims and demands whatsoever which are asserted against Assignor by
      reason of any alleged obligation or undertaking on its part to perform or
      discharge any of the terms, covenants or agreements

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    contained
      therein, which liability, loss, cost, damage, expense, claim or demand arises
      from acts, events or omissions accruing after the Effective Date provided not
      in
      any way attributable to Assignor.  If Assignor incurs any such
      liability, loss, cost, damage or expense under the Lease or in defense against
      any such claims or demands, the amount thereof (including costs, expenses and
      reasonable attorneys’ fees) together with interest thereon at the rate of ten
      percent (10%) per annum from the date any payment is made, shall be reimbursed
      to Assignor by Assignee immediately upon demand.

     

    5.           The
      indemnity provisions of Sections 3 and 4 herein shall survive for a period
      of
      thirty (30) months from the date hereof, and any claim made thereunder must
      be
      made within such thirty (30) month period.

     

    6.           The
      provisions of this instrument shall be binding upon and inure to the benefit
      of
      Assignor and Assignee and their respective successors and assigns.

     

    7.           This
      Assignment and Assumption of Lease may be executed in counterparts which taken
      together shall constitute one and the same instrument.

     

    8.           Assignor
      hereby covenants that it will, at any time and from time to time, execute any
      documents and take such additional actions as Assignee or its successors or
      assigns shall reasonably require in order to more completely or perfectly carry
      out the transfers intended to be accomplished by this Assignment and Assumption
      of Lease.

     

    

     

    

     

    

     

    [Signatures
      on Following Page]

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF, Assignor and Assignee have executed this Assignment and
      Assumption of Lease as of the date set forth above.

     

    
      	 	ASSIGNOR:	 
	 	 	 	 
	 	 	 	 
	 	  	 
	 	 	 	 
	 	 	 	 
	
               

            	
              By:
                

            	 	 
	 	Name: 	 	 
	 	Title: 	 	 
	 	 	 	 

    

     

    
      	
               

            	
              By:
                

            	 	 
	 	Name: 	 	 
	 	Title: 	 	 
	 	 	 	 

       

    

    
      	
            	ASSIGNEE:	 
	 	 	 	 
	 	 	 	 
	 	  	 
	 	 	 	 
	 	 	 	 
	
               

            	
              By:
                

            	 	 
	 	Name: 	 	 
	 	Title: 	 	 
	 	 	 	 

       

      
        	
                 

              	
                By:
                  

              	 	 
	 	Name: 	 	 
	 	Title: 	 	 
	 	 	 	 

      

    

    

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    Exhibit
      F

    

    ______________
      __, 2007

    

    VIA
      FEDEX
      AND FACSIMILE

    [Insert
      Tenant Notice Address]

    

    Re:
      Notification Regarding Change of Address and Rent Redirection

    

    Ladies
      and Gentlemen:

    

    This
      letter is to notify you, as the
      tenant of the property located at [Insert property address] (the “Property”),
      that all notices from you to [Insert Landlord name] (“Landlord”) concerning any
      matter relating to your lease with Landlord should be sent to Landlord at the
      address set forth below:

    [Insert
      Address]

    

    From
      the
      date of this letter, all rentals and other payments that become due under the
      terms of your Lease subsequent to the date hereof should be mailed to the
      address below:

    [Insert
      Address]

    

    If
      you have any questions regarding
      this notice, please contact [______________] at (___) ___-____.

    

    Sincerely,

    [Insert
      Landlord Signature
      block]

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