Document:

Unassociated Document

    
      Exhibit
        10.4 

Execution Copy

       

      PURCHASE
        AND SALE AGREEMENT

      

      

      THIS
        PURCHASE AND SALE 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 sell or cause to be sold 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:

       

      “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.

       

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

       

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

     

    “Ground
      Lease” means, as to a Property, the ground lease governing the lease hold
      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.

     

    “Honeywell
      Lease” means that certain Lease and Agreement, dated as of April 26, 1985,
      between Lexington Glendale LLC (as successor to GlenArrow Associates Limited
      Partnership by assignment) and Honeywell International Inc. (as successor to
      Sperry Corporation by assignment)

     

    “Honeywell
      Property” means the property located at 19019 N. 59th Avenue,
      Glendale,
      Arizona.

     

    “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
      Entity” means each of LMLP, each LMLP Sale Affiliate, each GP/Manager Entity
      and each Owner and “LMLP Entities” means LMLP, the LMLP Sale Affiliates,
      the GP/Manager Entities and the Owners, collectively.

     

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

     

    “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 Real Property and Leases, Personal Property
      and
      Intangible Property related to it.

     

    “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.

     

    “Sales
      Price” with respect to each Sold Asset means the value of the Property, as
      determined by the Parties, and shown on Schedule 1 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.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    “Seimens
      Property” means the property located at 1404-1501 Nolan Ryan Parkway,
      Arlington, Texas.

     

    “Selling
      Owner” means an Owner of a Sold Asset that is a Property.

     

    “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.

     

    “Sold
      Asset” means an Interest or a Property sold by LMLP to the
      Partnership.

     

    “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.

     

    “Tenneco
      Property” means the property located at 904 Industrial Road, Marshall,
      Michigan.

     

    “TIC
      Agreement” means the Amended and Restated Tenancy-In-Common Agreement,
      between Lexington Oklahoma City L.P. and 7th Street,
      Inc.

     

    “TIC
      Consent” means the consent of 7th Street,
      Inc. to
      the sale of 100% of the membership interests in Lexington Oklahoma City Manager
      LLC and 100% limited partnership interests in Lexington Oklahoma City
      L.P.

     

    “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 Sales Price with respect to such Closing, containing the Endorsements,
      insuring that the Partnership, if the Property is the Sold Asset, or the Owner,
      if an Interest is the Sold 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/Manager 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 Sold Asset is a
      Property, the applicable Owner, has full power and authority to own and assign
      the Sold 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 TIC 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 sale of the Sold 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 Sold 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 Selling 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 the 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
      Sold Asset, any GP/Manager Entity or any Owner is
      subject.  

     

    2.5  Sold
      Assets.  With respect to any Interest constituting a Sold Asset
      being sold 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 a GP/Manager Entity or an 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
      such 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/Manager Entity or an Owner.  Subject to obtaining
      waivers of all the ROFO/ROFR Rights and subject to obtaining the TIC Consent,
      LMLP has the absolute right, power and capacity, to sell, assign, convey,
      transfer and deliver the Interest 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 Selling 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 a
      GP/Manager 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/Manager 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 Sold 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  TIC
      Agreement.  LMLP has made available to the Partnership and Inland
      true, correct and complete copies of the TIC 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 TIC Agreement with respect to any material default under
        the
        TIC 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/Manager
      Entities, the Owners (other than the Selling 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 and (iv)
      obligations, duties and responsibilities under applicable laws.

     

    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 sale of a Sold
      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 sale of a Sold 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 Sold Asset or the Property
      to which the 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

      Partnership or the GP/Manager Entity or the Owner (if applicable) or
        their
        agents or the Sold 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.

     

    2.16  Operating
      Partnerships.  The transactions contemplated hereby do not
      constitute a sale of substantially all of the assets of Lepercq Corporate Income
      Fund L.P., Lepercq Corporate Income Fund II L.P. or Net 3 Acquisition L.P.,
      which would require the consent of the Special Limited partners under such
      entities’ respective limited partnership agreements.

     

    ARTICLE
      3

CONDITIONS
      PRECEDENT

     

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

     

    (a)  Representations
      and Warranties.  The representations and warranties made by LMLP
      in Article 2 of this Agreement with respect to such Sold 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 sale of such Sold Asset.

     

    (c)  Leases.  As
      of a Closing:  with respect to each Sold Asset, (i) the current Tenant
      Estoppel for the applicable Lease disclosing no matters reasonably objectionable
      to the Partnership and Inland, have 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; and (vii) there shall not have occurred an event
      of any material damage or destruction to the applicable Property or any

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

      significant condemnation of such Property which are not the obligation
        of
        the tenants thereof to repair and renders such Sold Asset unusable by the
        tenant
        thereof or gives the tenants thereof the right to terminate; provided that
        LMLP
        shall have the right to exercise the Owner’s rights under the Honeywell Lease
        with respect to the Released Option Parcel (as defined in the Honeywell
        Lease).

    

     

    (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 Sold 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 Sold 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)  TIC.  With
      respect to the sale of the Sold Asset relating to the TIC Agreement only, the
      receipt of the TIC Consent in a form reasonably acceptable to the Partnership
      and Inland.  There shall not have been any amendment to the TIC
      Agreement after the date hereof unless consented to by the Partnership and
      Inland.

     

    (h)  Seimens
      Property.  Only with respect to the Seimens Property, in the event
      LMLP and Inland, in good faith, determines that the expenses of remediation
      under that certain Scope of Services and Cost Proposal by BEM Systems, Inc.
      dated June 15, 2007 with respect to the Seimens Property exceeds $250,000,
      the
      written agreement of LMLP to indemnify the Partnership for such excess
      expense.

     

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

     

    (j)  Other
      Conditions.  All other conditions to the Partnership’s obligations
      set forth in this Agreement or the Partnership Agreement with respect to the
      sale of such Sold 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 Sold Asset is subject to the satisfaction or waiver of each of
      the
      following conditions related to the sale of a Sold 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 sale of such Sold Asset; provided that the
        Partnership’s failure to perform or comply as provided by this Section shall not
        be a condition to the sale of a Sold 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 Sold 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 sale of
      such
      Sold Asset have been satisfied as of the dates required.

     

    ARTICLE
      4

CLOSING

     

    4.1  Sale.  LMLP
      and each LMLP Sale Affiliate agree to sell the Sold Assets to the Partnership
      and the Partnership agrees to purchase the Sold Assets from LMLP and the LMLP
      Sale Affiliates.

     

    4.2  Closing.  The
      consummation of the sale of a Sold 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, requiring the
      simultaneous deliver of the applicable Deed, Leasehold Interest or Interests
      and
      disbursement of the Sales Price to the Owner, 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 sale of such Sold
      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 Sold 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 Sold Assets 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 Sold 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 Sold 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 Sold 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 as described in the definition of LMLP’s Equity
      with respect to each Sold Asset being sold 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 Sold Asset being sold at such Closing
      are
      true and correct in all material respects.

     

    (i)  Notice
      to Tenants.  If a Sold 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 Sold 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 Sales Price with respect
      to
      the applicable Sold 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 Sale
      Affiliate and the Partnership with respect to the pre- and post-sale periods,
      respectively.  Payments either from or to the applicable LMLP Sale
      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 Sale Affiliate any rent properly allocated
      to the pre-sale 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 Contribution Agreement unless the aggregate
      of all losses hereunder and under Article V of the Contribution Agreement
      exceeds $250,000, and in such 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

      agreements contained in this Agreement to be performed and complied with
        by
        it on or prior to a Closing of a sale of such Sold Asset; provided that the
        Partnership’s failure to perform or comply as provided by this Section shall not
        be a condition to the sale of a Sold Asset if such failure is caused by Event
        of
        Default by LMLP GP under the Partnership Agreement.

    

     

    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
        sales
        of Sold 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.

     

    6.13  Tax
      Free Exchanges. Notwithstanding Section 6.8 hereof, LMLP is permitted
      designate any Sold Asset as part of a tax free exchange under the Internal
      Revenue Code of 1986, as amended.  In such event, the parties hereto agree
      to cooperate with the other in such transaction, including, but not limited
      to,
      executing any commercially reasonable documents requested by the designating
      party and cooperating in a commercially reasonable manner with any facilitator
      in such transaction, provided that (i) the Partnership shall not incur any
      liability in connection with the exchange, (ii) the Partnership shall not be
      obligated to take title to any real property, other than a Sold Asset, (iii)
      the
      date of the Closing shall not be extended to accommodate nor shall the Closing
      be conditioned on consummation of the exchange, and (iv) any and all additional
      costs and charges attributable to the exchange including, without limitation,
      actual attorneys’ fees, brokers’ commissions and other transaction-related
      expenses shall be paid for by LMLP or an LMLP Sale Affiliate immediately upon
      demand by the Partnership.  In addition, LMLP shall indemnify, defend and
      hold the Partnership and Inland harmless from and against any and all losses,
      liens, claims, liabilities, damages, costs and expenses (including reasonable
      attorneys’ fees and costs) sustained by or threatened against the Partnership
      which result from or arise out of any exchange contemplated by this Section
      6.13

     

    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.

     

    (a)  In
      the
      event the Partnership acquires the Tenneco 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 I Environmental Report with respect to the
      Tenneco Property.

     

    (b)  In
      the
      event the Partnership acquires the Seimens Property hereunder, LMLP agrees
      to
      indemnify, defend and hold the Partnership harmless of and from any the expenses
      of remediation under that certain Scope of Services and Cost Proposal by BEM
      Systems, Inc. dated June 15, 2007 with respect to the Seimens
      Property.

     

    (c)  Notwithstanding
      anything in the foregoing to the contrary, the amount of expenses so indemnified
      by LMLP shall not exceed $250,000.00 individually in the case of Sections
7.2(a) or 7.2(b), unless agreed to in writing by
      LMLP.

     

    (d)  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.

     

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

     

    7.3  Honeywell
      Release Parcel.  Notwithstanding anything to the contrary, the
      Real Property constituting the Honeywell Property shall not include the Released
      Parcel (as defined in the Honeywell Lease).

     

    

     

    

     

    [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 Sale Affiliates, severally and solely with respect to the
      Sold
      Asset or Sold Assets set forth opposite their respective name on Schedule
      1 hereto, agree to sell such Sold Asset or Sold Asset subject to and in
      accordance with the terms and conditions of this Agreement:

    

    Lexington
      Tennessee Holdings L.P.

    

    By:
      Lex
      GP-1 Trust, its general partner

    

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

    

    LSAC
      Operating Partnership L.P.

    

    By:
      LSAC
      General Partner LLC

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

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    Lexington
      Contributions, Inc.

    

    By:
      /s/ T. Wilson
      Eglin                                                      

              
      Name:  T. Wilson
      Eglin
          
Title:     President

    

    Lexington
      TIC OK Holdings L.P.

    

    By:
      Lexington TIC OK LLC, its general partner

    

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

    

    Texan
      Christensen Limited Partnership

    

    By:
      Lexington BHI Trust, its general partner

    

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

    

    Texan
      Training Limited Partnership

    

    By:
      Lexington BHI Trust, its general partner

    

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

    

    Texan
      Petrolite Limited Partnership

    

    By:
      Lexington BHI Trust, its general partner

    

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

    

    Triple
      Net Investment Company LLC

    

    By:
      /s/ T. Wilson
      Eglin                                                      

    Name:   T.
      Wilson
      Eglin

    Title:      President

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Net
      3 Acquisition L.P.

    

    By:
      Lex
      GP-1 Trust, its general partner

    

    By:
      /s/ T. Wilson
      Eglin                                                      

    Name:   T.
      Wilson
      Eglin

    Title:      President

    

    Lepercq
      Corporate Income Fund L.P.

    

    By:
      Lex
      GP-1 Trust, its general partner

    

    By:
      /s/ T. Wilson
      Eglin                                                      

    Name:   T.
      Wilson
      Eglin

    Title:      President

    

    Lexington
      Elizabethtown 750 Corp.

    

    By:
      /s/ T. Wilson
      Eglin                                                      

    Name:   T.
      Wilson
      Eglin

    Title:      President

    

    Lexington
      Elizabethtown 730 Corp.

    

    By:
      /s/ T. Wilson
      Eglin                                                      

    Name:   T.
      Wilson
      Eglin

    Title:      President

    

    Lexington
      Dry Ridge Corp.

    

    By:
      /s/ T. Wilson
      Eglin                                                      

    Name:   T.
      Wilson
      Eglin

    Title:      President

    

    Lexington
      Hopkinsville Corp.

    

    By:
      /s/ T. Wilson
      Eglin                                                      

    Name:   T.
      Wilson
      Eglin

    Title:      President

    

    Lexington
      Owensboro Corp.

    

    By:
      /s/ T. Wilson
      Eglin                                                      

    Name:    T.
      Wilson
      Eglin

    Title:       President

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    Lexington
      Acquiport Company II, LLC

    

    By:
      /s/ T. Wilson
      Eglin                                                      

    Name:    T.
      Wilson
      Eglin

    Title:       President

    

    Union
      Hills Associates

    

    By:
      Union
      Hills Associates II, its managing general partner

    

    By:
      Lexington Realty Trust, its managing general partner

    

    By:
      /s/ T. Wilson
      Eglin                                                      

    Name:    T.
      Wilson
      Eglin

    Title:       President

    

    Lexington
      Foxboro I LLC

    

    By:
      /s/ T. Wilson
      Eglin                                                      

    Name:    T.
      Wilson
      Eglin

    Title:       President

    

    Westport
      View Corporate Center L.P.

    

    By:
      Lexington Westport LLC, its general partner

    

    By:
      /s/ T. Wilson
      Eglin                                                      

    Name:    T.
      Wilson
      Eglin

    Title:       President

    

    Lexington
      Realty Trust

    

    By:
      /s/ T. Wilson
      Eglin                                                      

    Name:    T.
      Wilson
      Eglin

    Title:       Chief
      Executive Officer

    

    Lexington
      Realty Advisors, Inc.

    

    By:
      /s/ T. Wilson
      Eglin                                                      

    Name:    T.
      Wilson
      Eglin

    Title:       President

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    LXP
      I, L.P.

    

    By:
      LXP I
      Trust, its general partner

    

    By:
      /s/ T. Wilson
      Eglin                                                      

    Name:    T.
      Wilson
      Eglin

    Title:       President

    

    North
      Tampa Associates

    

    By:
      Lexington Realty Trust, its managing general partner

    

    By:
      /s/ T. Wilson
      Eglin                                                      

    Name:    T.
      Wilson
      Eglin

    Title:       President

    

    Lexington
      Texas Holdings L.P.

    

    By;
      Lexington Texas Holdings Manager LLC, its general partner

    

    By:
      /s/ T. Wilson
      Eglin                                                      

    Name:    T.
      Wilson
      Eglin

    Title:       President

    

    Lepercq
      Corporate Income Fund II L.P.

    

    By:
      Lex
      GP-1 Trust, its general partner

    

    By:
      /s/ T. Wilson
      Eglin                                                      

    Name:    T.
      Wilson
      Eglin

    Title:       President

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

    SCHEDULE
      1

     

    

    
      
        	
                Property

              	 	 	 	 	 	 	 
	
                 

                 

                 

                

Type

              	
                Primary
                  Tenant

              	
                Address

              	
                Net
                  
Prorations 
and 
Adjustments 
(See
                  
Attached)

              	
                Purchase
                  
Price

              	
                Loans

              	
                Sold
                  Assets

              	
                Owner

              	
                GP/Manager
                  Entity

              	
                LMLP
                  Sale Affiliate

              
	
                Fee
                  interest

              	
                Advance
                  PCS, Inc.

              	
                2401
                  Cherahala Boulevard, Knoxville, Tennessee

              	 	 	
                $5,054,329.68

              	
                100%
                  membership interest in Lexington Knoxville Manager LLC

              	
                Lexington
                  Knoxville LLC

              	
                Lexington
                  Knoxville Manager LLC

              	
                Lexington
                  Tennessee Holdings L.P.

              
	
                Fee
                  interest

              	
                American
                  Golf Corporation

              	
                11411
                  N. Kelly Avenue, Oklahoma City, Oklahoma

              	 	 	
                --

              	
                100%
                  membership interest in LSAC Oklahoma City Manager LLC and 100 limited
                  partnership interest in LSAC Oklahoma L.P.

              	
                LSAC
                  Oklahoma City L.P.

              	
                LSAC
                  Oklahoma Manager LLC

              	
                LSAC
                  Operating Partnership L.P.

              
	
                Leasehold
                  interest

              	
                ASML
                  Lithography Holding NV

              	
                8555
                  South River Parkway, Tempe, Arizona

              	 	 	
                $13,415,219.10

              	
                100%
                  membership interest in Lexington Tempe Manager LLC and 100% limited
                  partnership interest in Lexington Tempe L.P.

              	
                Lexington
                  Tempe L.P.

              	
                Lexington
                  Tempe Manager LLC

              	
                Lexington
                  Contributions, Inc.

              

      

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
          	
                  40%
                    tenancy-in-common interest

                	
                  AT&T
                    Wireless Services, Inc.

                	
                  3201
                    Quail Springs Parkway, Oklahoma City, Oklahoma

                	 	 	
                  $14,748,872.00

                	
                  100%
                    membership interest in Lexington Oklahoma City Manager LLC and
                    100%
                    limited partnership interest in Lexington Oklahoma City
                    L.P.

                	
                  Lexington
                    Oklahoma City L.P.

                	
                  Lexington
                    Oklahoma City Manager LLC

                	
                  Lexington
                    TIC OK Holdings L.P.

                
	
                  Fee
                    interest

                	
                  Baker
                    Hughes, Inc.

                	
                  9110
                    Grogans Mill Road, Houston, Texas

                	 	 	
                  $23,650,170.60

                	
                  Fee
                    interest

                	
                  Texan
                    Christensen Limited Partnership

                	 	
                  Texan
                    Christensen Limited Partnership

                
	
                  Fee
                    interest

                	
                  Baker
                    Hughes, Inc.

                	
                  2529
                    West Thorne Drive, Houston, Texas

                	 	 	
                  $7,217,561.16

                	
                  Fee
                    interest

                	
                  Texan
                    Training Limited Partnership

                	 	
                  Texan
                    Training Limited Partnership

                
	
                  Fee
                    interest

                	
                  Baker
                    Hughes, Inc.

                	
                  12645
                    West Airport Road, Sugarland, Texas

                	 	 	
                  $16,371,694.47

                	
                  Fee
                    interest

                	
                  Texan
                    Petrolite Limited Partnership

                	 	
                  Texan
                    Petrolite Limited Partnership

                
	
                  Fee
                    interest

                	
                  Bay
                    Valley Foods, LLC

                	
                  2935
                    Van Vactor Way, Plymouth, Indiana

                	 	 	
                  $6,609,133.18

                	
                  100%
                    membership interest in LSAC Plymouth Manager LLC and 100% limited
                    partnership interest in LSAC Plymouth L.P.

                	
                  LSAC
                    Plymouth L.P.

                	
                  LSAC
                    Plymouth Manager LLC

                	
                  LSAC
                    Operating Partnership L.P.

                
	
                  Fee
                    interest

                	
                  CAE
                    Simuflite, Inc. (CAE Inc.)

                	
                  29
                    South Jefferson Road, Hanover, New Jersey

                	 	 	
                  $16,719,188.84

                	
                  100%
                    membership interest in LSAC Morris County 

                	
                  LSAC
                    Morris County L.P.

                	
                  LSAC
                    Morris County L.P.

                	
                  LSAC
                    Operating Partnership L.P.

                

        

      

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

    
      	 	 	 	 	 	 	 Manager
              LLC and 99.9% limited partnership interest in LSAC Morris
              County L.P.	 	 	 
	
              Fee
                interest

            	
              Corning,
                Inc.

            	
              736
                Addison Road, Erwin, New York

            	 	 	
              $9,357,883.09

            	
              100%
                membership interest in Lexington TNI Erwin Manager LLC and 100% limited
                partnership interest in Lexington TNI Erwin L.P.

            	
              Lexington
                TNI Erwin L.P.

            	
              Lexington
                TNI Erwin Manager LLC

            	
              Triple
                Net Investment Company LLC

            
	
              Fee
                interest

            	
              Cox
                Communications, Inc.

            	
              1440
                East 15th
                Street, Tucson, Arizona

            	 	 	
              $2,275,658.74

            	
              100%
                membership interest in Net 2 Cox LLC

            	
              Net
                2 Cox LLC

            	 	
              Net
                3 Acquisition  L.P.

            
	
              Fee
                interest

            	
              Dana
                Corporation

            	
              6938
                Elm Valley Drive, Kalamazoo, Michigan

            	 	 	
              $17,340,367.78

            	
              100%
                membership interest in Lexington Kalamazoo Manager LLC and 100% limited
                partnership interest in Lexington Kalamazoo L.P.

            	
              Lexington
                Kalamazoo L.P.

            	
              Lexington
                Kalamazoo Manager LLC

            	
              Lepercq
                Corporate Income Fund L.P.

            
	
              Leasehold
                interest

            	
              Dana
                Corporation

            	
              730
                North Black Branch Road, Elizabethtown, Kentucky

            	 	 	
              $4,694,433.14

            	
              100%
                interest in to be formed SP Subsidiary

            	
              To
                be formed SP Subsidiary

            	 	
              Lexington
                Elizabethtown 730 Corp.

            
	
              Leasehold
                

            	
              Dana
                

            	
              750
                North Black

            	 	 	
              $24,923,414.82

            	
              100%
                interest in 

            	
              To
                be 

            	 	
              Lexington

               

            

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              interest

            	
              Corporation

            	
              Branch
                Road, Elizabethtown, Kentucky

            	 	 	
               

            	
              to
                be formed SP Subsidiary

            	
              formed
                SP Subsidiary

            	 	
              Elizabethtown
                750 Corp.

            
	
              Leasehold
                interest

            	
              Dana
                Corporation

            	
              10000
                Business Boulevard, Dry Ridge, Kentucky

            	 	 	
              $11,805,918.47

            	
              100%
                interest in to be formed SP Subsidiary

            	
              To
                be formed SP Subsidiary

            	 	
              Lexington
                Dry Ridge Corp.

            
	
              Leasehold
                interest

            	
              Dana
                Corporation

            	
              301
                Bill Byran Boulevard, Hopkinsville, Kentucky

            	 	 	
              $14,603,212.19

            	
              100%
                interest in to be formed SP Subsidiary

            	
              To
                be formed SP Subsidiary

            	 	
              Lexington
                Hopkinsville Corp.

            
	
              Leasehold
                interest

            	
              Dana
                Corporation

            	
              4010
                Airpark Drive, Owensboro, Kentucky

            	 	 	
              $10,558,679.56

            	
              100%
                interest in to be formed SP Subsidiary hold interest

            	
              To
                be formed SP Subsidiary

            	 	
              Lexington
                Owensboro Corp.

            
	
              Fee
                interest

            	
              EDS
                Information Services, LLC (Electronic Data Systems
                Corporation)

            	
              3600
                Army Post Road, Des Moines, Iowa

            	 	 	
              $22,761,297.00

            	
              100%
                membership interest in Lexington TNI Des Moines Manager LLC and 100%
                limited partnership interest in Lexington TNI Des Moines
                L.P.

            	
              Lexington
                TNI Des Moines L.P.

            	
              Lexington
                TNI Des Moines Manager LLC

            	
              Triple
                Net Investment Company LLC

            
	
              Fee
                interest

            	
              Georgia
                Power Company

            	
              2500
                Patrick Henry Parkway, McDonough, Georgia

            	 	 	
              $12,675,000.00

            	
              100%
                membership interest in Acquiport McDonough Manager LLC and 100% limited
                partnership interest in Acquiport McDonough L.P.

            	
              Acquiport
                McDonough L.P.

            	
              Acquiport
                McDonough Manager LLC

            	
              Lexington
                Acquiport Company II, LLC

            

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              Fee
                interest (excluding the Released Parcel)

            	
              Honeywell,
                Inc.

            	
              19019
                N. 59th
                Avenue, Glendale, Arizona

            	 	 	
              $14,149,680.39

            	
              100%
                interest in Lexington Manager Glendale LLC

            	
              Lexington
                Glendale LLC

            	
              Lexington
                Glendale Manager LLC

            	
              Union
                Hills Associates

            
	
              Fee
                interest

            	
              (i)Structure,
                LLC (Infocrossing, Inc.)

            	
              11707
                Miracle Hills Drive, Omaha, Nebraska

            	 	 	
              $8,850,197.37

            	
              100%
                membership interest in LSAC Omaha Manager LLC and 100% limited partnership
                interest in LSAC Omaha L.P.

            	
              LSAC
                Omaha L.P.

            	
              LSAC
                Omaha Manager LLC

            	
              LSAC
                Operating Partnership L.P.

            
	
              Leasehold
                interest

            	
              (i)Structure,
                LLC (Infocrossing, Inc.)

            	
              2005
                East Technology Circle, Tempe, Arizona

            	 	 	
              $8,358,519.58

            	
              100%
                membership interest in LSAC Tempe Manager LLC and 100% limited partnership
                interest in LSAC Tempe L.P.

            	
              LSAC
                Tempe L.P.

            	
              LSAC
                Tempe Manager LLC

            	
              LSAC
                Operating Partnership L.P.

            
	
              Fee
                interest

            	
              Ivensys
                Systems, Inc. (Siebe, Inc.)

            	
              70
                Mechanic Street, Foxboro, Massachusetts

            	 	 	
              $14,090,991.79

            	
              Fee
                interest

            	
              Lexington
                Foxboro I LLC

            	 	
              Lexington
                Foxboro I LLC

            
	
              Fee
                interest

            	
              Kelsey
                Hayes Company (TRW Automotive)

            	
              1200
                & 12025 Tech Center Drive, Livonia, Michigan

            	 	 	
              $10,520,436.70

            	
              100%
                interest in Lexington Livonia L.L.C.

            	
              Lexington
                Livonia L.L.C.

            	
              Lexington
                Livonia L.L.C.

            	
              Lepercq
                Corporate Income Fund L.P.

            
	
              Fee
                interest

            	
              Kelsey-Seybold
                Clinic (St. Lukes Episcopal Health System)

            	
              11555
                University Boulevard, Houston, Texas

            	 	 	
              $9,788,652.45

            	
              100%
                membership interest in Lexington Sugarland Manager LLC and 100% limited
                partnership

            	
              Lexington
                Sugarland L.P.

            	
              Lexington
                Sugarland Manager LLC

            	
              Westport
                View Corporate Center L.P.

            

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
               

            	
               

            	
               

            	 	 	
               

            	
              interest
                in Lexington Sugarland L.P.

            	
               

            	
               

            	
               

            
	
              Fee
                interest (currently under contract)

            	
              Litton
                Loan Servicing L.P. (Credit-Based Asset Servicing and Securitization
                LLC)

            	
              3500
                North Loop Court, McDonough, Georgia

            	 	 	
              --

            	
              100%
                membership interest in NLSAF McDonough Manager LLC and 100% limited
                partnership interest in NLSAF McDonough L.P.

            	
              NLSAF
                McDonough L.P.

            	
              NLSAF
                McDonough Manager LLC

            	
              Lexington
                Realty Trust

            
	
              Fee
                interest

            	
              Montgomery
                County Management, LLC

            	
              17191
                St. Lukes Way, Woodlands, Texas

            	 	 	
              $7,500,000.00

            	
              100%
                membership interest in LSAC Woodlands Manager LLC and 100% limited
                partnership interest in LSAC Woodlands L.P.

            	
              LSAC
                Woodlands L.P.

            	
              LSAC
                Woodlands L.P.

            	
              LSAC
                Operating Partnership L.P.

            
	
              Fee
                interest

            	
              Nextel
                of Texas

            	
              1600
                Eberhardt Road, Temple, Texas

            	 	 	
              $8,799,283.19

            	
              100%
                membership interest in a to be formed SP Subsidiary and 99% limited
                partnership interest in Lexington Temple L.P.

            	
              Lexington
                Temple L.P.

            	
              To
                be formed SP Subsidiary

            	
              Lexington
                Realty Trust

            
	
              Fee
                interest

            	
              Nextel
                West Corporation

            	
              6455
                State Highway 303 N.E., Bremerton, Washington

            	 	 	
              $6,503,818.18

            	
              100%
                membership interest in Lexington Bremerton Manager LLC

            	
              Lexington
                Bremerton LLC

            	
              Lexington
                Bremerton Manager LLC

            	
              Lexington
                Realty Trust

            

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              Fee
                interest

            	
              Northrop
                Grumman Systems Corp.

            	
              3943
                Denny Avenue, Pascagoula, Mississippi

            	 	 	
              --

            	
              100%
                membership interest in LSAC Pascagoula Manager LLC and 100% limited
                partnership interest in LSAC Pascagoula L.P.

            	
              LSAC
                Pascagoula L.P.

            	
              LSAC
                Pascagoula Manager LLC

            	
              LSAC
                Operating Partnership L.P.

            
	
              Fee
                interest

            	
              Omnipoint
                Holdings, Inc. (T-Mobile USA, Inc.)

            	
              133
                First Park Drive, Oakland, Maine

            	 	 	
              $10,270,681.91

            	
              100%
                membership interest in Acquiport Oakland Manager LLC and 100% limited
                partnership interest in Acquiport Oakland L.P.

            	
              Acquiport
                Oakland L.P.

            	
              Acquiport
                Oakland Manager LLC

            	
              Lexington
                Acquiport Company II, LLC

            
	
              Fee
                interest

            	
              Owens
                Corning

            	
              590
                Ecology Lane, Chester, South Carolina

            	 	 	
              $13,197,624.67

            	
              100%
                interest in a to be formed SP Subsidiary and 100% interest in Lexington
                Chester Industrial LLC

            	
              Lexington
                Chester Industrial LLC

            	
              To
                be formed SP Subsidiary

            	
              Lexington
                Realty Trust

            
	
              Fee
                interest

            	
              Owens
                Corning

            	
              1901
                49th
                Avenue, Minneapolis, Minnesota

            	 	 	
              --

            	
              100%
                membership interest in Lexington Minneapolis L.L.C.

            	
              Lexington
                Minneapolis L.L.C.

            	 	
              Lepercq
                Corporate Income Fund L.P.

            
	
              Fee
                interest

            	
              Parkway
                
Chevrolet, Inc.

            	
              25500
                SH 249, 
Tomball, Texas

            	 	 	
              $9,344,673.76

            	
              100%
                membership interest in LSAC Tomball Manager LLC and 100%
                limited

            	
              LSAC
                
Tomball L.P.

            	
              LSAC
                Tomball Manager LLC

            	
              LSAC
                Operating Partnership L.P.

            

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
               

            	
               

            	
               

            	 	 	
               

            	
              partnership
                
interest in LSAC 
Tomball L.P.

            	
               

            	
               

            	
               

            
	
              Fee
                interest

            	
              Seimens
                Dematic Postal Automation

            	
              1404-1501
                Nolan Ryan Parkway, Arlington, Texas

            	 	 	
              $21,010,306.55

            	
              100%
                membership interest in Lexington Arlington Manager LLC and 99.5%
                limited
                partnership interest in Lexington Arlington L.P.

            	
              Lexington
                Arlington L.P.

            	
              Lexington
                Arlington Manager LLC

            	
              Lexington
                Acquiport Company II, LLC

            
	
              Fee
                interest

            	
              Silver
                Spring Gardens, Inc. (Huntsinger Farms, Inc.)

            	
              2424
                Alpine Road, Eau Claire, Wisconsin

            	 	 	
              --

            	
              100%
                membership interest in LSAC Eau Claire Manager LLC and 100% limited
                partnership interest in LSAC Eau Claire L.P.

            	
              LSAC
                Eau Claire L.P.

            	
              LSAC
                Eau Claire Manager LLC

            	
              LSAC
                Operating Partnership L.P.

            
	
              Fee
                interest

            	
              SKF
                USA Inc.

            	
              324
                Industrial Park Road, Franklin, North Carolina

            	 	 	
              $1,508,477.25

            	
              Fee
                interest

            	
              Lexington
                Realty Trust

            	 	
              Lexington
                Realty Trust

            
	
              Fee
                interest

            	
              Sygma
                Network, Inc. (Sysco Corporation)

            	
              3600
                Southgate Drive, Danville, Illinois

            	 	 	
              $6,217,205.68

            	
              100%
                membership interest in Lexington Danville LLC

            	
              Lexington
                Danville LLC

            	 	
              Lexington
                Realty Advisors, Inc.

            
	
              Fee
                interest

            	
              Tenneco
                Automotive Operation Company (Tenneco

            	
              904
                Industrial Road, Marshall, Michigan

            	 	 	
              --

            	
              Fee
                interest

            	
              LXP
                I, L.P.

            	 	
              LXP
                I, L.P.

            

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
               

            	
              
Automotive
                Inc.)

            	
               

            	 	 	
               

            	
               

            	
               

            	 	
               

            
	
              Leasehold
                interest

            	
              TI
                Group Automotive Systems, LLC (TI Automotive LTD)

            	
              359
                Gateway Drive, Livonia, Georgia

            	 	 	
              $9,781,993.46

            	
              100%
                membership interest in Lexington Livonia TI Manager LLC and 100%
                limited
                partnership interest in Lexington Livonia TI L.P.

            	
              Lexington
                Livonia TI L.P.

            	
              Lexington
                Livonia TI Manager LLC

            	
              LSAC
                Operating Partnership L.P.

            
	
              Fee
                interest

            	
              Time
                Customer Service, Inc. (Time, Inc.)

            	
              10419
                North 30th
                Street,
                Tampa, Florida

            	 	 	
              $7,978,117.35

            	
              Fee
                interest

            	
              North
                Tampa Associates

            	 	
              North
                Tampa Associates

            
	
              Fee
                interest

            	
              TRW,
                Inc. (Experian Information Solutions, Inc.)

            	
              601
                & 701 Experian Parkway, Allen, Texas

            	 	 	
              $30,582,338.00

            	
              100%
                membership interest in Lexington Allen Manager LLC and 100% limited
                partnership interest in Lexington Allen L.P.

            	
              Lexington
                Allen L.P.

            	
              Lexington
                Allen Manager LLC

            	
              Lexington
                Texas Holdings L.P.

            
	
              Fee
                interest

            	
              Unisource
                Worldwide, Inc.

            	
              109
                Stevens Street, Jacksonville, Florida

            	 	 	
              --

            	
              Fee
                interest

            	
              Lepercq
                Corporate Income Fund L.P.

            	 	
              Lepercq
                Corporate Income Fund II L.P.

            
	
              Fee
                interest

            	
              Voicestream
                PCS I (T-Mobile USA, Inc.)

            	
              2999
                S.W. 6th
                Street, Redmond, Oregon

            	 	 	
              $9,654,317.77

            	
              100%
                membership interest in Lexington Redmond Manager LLC

            	
              Lexington
                Redmond LLC

            	
              Lexington
                Redmond Manager LLC

            	
              Lepercq
                Corporate Income Fund II L.P.

            
	
              Fee
                interest

            	
              Voicestream
                PCS II (T-Mobile USA, Inc.)

            	
              9601
                Renner 
Boulevard,

            	 	 	
              $10,141,927.70

            	
              100%
                
membership

            	
              Acquiport
                
Lenexa 

            	
              Acquiport
                Lenexa 

            	
              Lexington
                Acquiport 

            

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
               

            	
              USA,
                Inc.)

            	
              Lenexa,
                Kansas

            	 	 	
               

            	
              interest
                in Acquiport Lenexa Manager LLC

            	
              LLC

            	
              Manager
                LLC

            	
              Company
                II, LLC

            
	
              Fee
                interest

            	
              Voicestream
                PCS II (T-Mobile USA, Inc.)

            	
              3265
                East Goldstone Drive, Meridian, Idaho

            	 	 	
              $10,079,315.38

            	
              100%
                membership interest in Acquiport Meridian Manager LLC

            	
              Acquiport
                Meridian LLC

            	
              Acquiport
                Meridian Manager LLC

            	
              Lexington
                Acquiport Company II, LLC

            
	
              Fee
                interest

            	
              Voicestream
                PCS II (T-Mobile USA, Inc.)

            	
              3711
                San Gabrial, Mission, Texas

            	 	 	
              $6,282,487.42

            	
              100%
                membership interest in Lexington Mission Manager LLC and 99.5% limited
                partnership interest in Lexington Mission L.P.

            	
              Lexington
                Mission L.P.

            	
              Lexington
                Mission Manager LLC

            	
              Triple
                Net Investment Company LLC

            

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    SCHEDULE
      2

     

    

    Lease,
      dated as of September 27, 2000, between Texan Christensen Limited Partnership
      and Baker Hughes Incorporated, as amended

    

    Lease,
      dated as of September 27, 2000, between Texan Training Limited Partnership
      and
      Baker Hughes Incorporated, as amended

    

    Lease
      Agreement, dated June 30, 2005, between Lexington Hopkinsville Corp. and Dana
      Corporation, as amended

    

    Lease
      Agreement, dated June 30, 2005, between Lexington Owensboro Corp. and Dana
      Corporation, as amended

    

    Lease
      Agreement, dated June 30, 2005, between Lexington Dry Ridge Corp. and Dana
      Corporation, as amended

    

    Lease
      Agreement, dated June 30, 2005, between Lexington 750 Elizabethtown Corp. and
      Dana Corporation, as amended

    

    Lease
      Agreement, dated June 30, 2005, between Lexington 730 Elizabethtown Corp. and
      Dana Corporation, as amended

    

    Lease
      Agreement, date d as of March 14, 2003, between LSAC Plymouth L.P. (as successor
      to Van Vactor LLC by assignment and Bay Valley Foods, LLC (as successor by
      assignment to Dean Specialty Foods Group, LLC by assignment), as amended and
      assigned

    

    Honeywell
      Lease

    

    Lease
      Agreement, dated November 30, 2005, between LSAC Omaha L.P. and (i)Structure,
      LLC, as amended

    

    Lease
      Agreement, dated December 29, 2005, between LSAC Tempe L.P. and (i)Structure,
      LLC, as amended

    

    Nextel
      Communications Standard Office Lease Agreement, dated January 30, 2001, between
      Nextel West Corp. and Lexington Bremerton LLC (as successor to NBS Bremerton,
      L.L.C. by assignment), as amended and assigned

    

    Office
      Lease Agreement, dated as of July 13, 2004, between Lexington Sugarland L.P.
      (as
      successor to TDC KS, L.P. by assignment) and KS Management Services, LP, as
      amended and assigned

    

    Agreement
      of Sublease, dated as of October 1, 2004, between Lexington Livonia TI L.P.
      (as
      successor to TC Hart County, LLC by assignment) and TI Group Automotive Systems,
      LLC, as amended and assigned

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    Lease
      Agreement, dated as of December 15, 2003, between Acquiport Meridian LLC (as
      successor to HP Boise, LLC by assignment) and Voicestream PCS Holding, LLC,
      as
      amended and assigned

    

    Lease
      Agreement, dated as of March 30, 2004, between Acquiport Lenexa LLC (as
      successor to HP Kansas City, LLC by assignment) and Voicestream PCS II
      Corporation, as amended and assigned

    

    Lease
      Agreement, dated as of December 27, 2004, between Acquiport Oakland L.P. (as
      successor to HP Maine, LLC by assignment) and Omnipoint Holdings, Inc., as
      amended and assigned

    

    Lease
      Agreement, dated as of August 5, 2007, between Lexington Redmond LLC (as
      successor to HP Redmond, LLC by assignment) and Voicestream PCS I LLC, as
      amended and assigned

    

    Lease
      Agreement, dated as of June 2, 2003, between Lexington Mission L.P. (as
      successor to CentraTek L.P. by assignment) and T-Mobile West Corporation, as
      amended and assigned

    

    Lease
      Agreement, dated September 28, 1990, between Net 2 Cox (as successor to Net
      2
      L.P. by assignment) and CoxCom, Inc. (as successor to Robin Cable Systems of
      Tucson by assignment), as amended and assigned

    

    Lease
      Agreement, dated as of October 26, 2001, between Lexington Kalamazoo L.P. (as
      successor to Danacq Kalamazoo LLC by assignment) and Dana Corporation, as
      amended and assigned

    

    Nextel
      Communications Standard Office Lease Agreement, dated as of  , between
      Nextel of Texas Inc. and Lexington Temple L.P. (as successor to NBS Temple,
      L.L.C. by assignment), as amended and assigned

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

    SCHEDULE
      2.5

    

    ORGANIZATIONAL
      CHART

    

    [Attached]

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    SCHEDULE
      2.8

     

    RENT
      ROLL

    

    [Attached]

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    SCHEDULE
      4.2

    

    PERMITTED
      EXCEPTIONS

    

    

    Advance
      PCS, Inc. - 2401 Cherahala Boulevard, Knoxville,
      Tennessee

     

    1.           Taxes
      for the year 2007, a lien, but not yet due or payable, and all taxes
      forsubsequent years. (See 7)

     

    

    2.           Matters
      depicted or disclosed by survey of David E. Taylor, Jr., RLS NO. 1950,dated
      July
      19, 2002, and being also shown on Final Plat of Resubdivision of Lots6 and
      7 in
      Instrument No. 200010190027464, in the Knox County Register’s Office. (See
      8)

    

    3.           Covenants
      and restrictions recorded in Deed Book 2304, page 492, as amended byFirst
      Amendment dated February 21, 2001, and recorded as Instrument
      No.200104050067156, both in the office of the Knox County Register of Deeds,
      but
      omitting any covenant or restriction based on race, color, religion, sex,
      handicap, familiar status or national origin unless and only to the extent
      that
      said covenant (a) is exempt under Chapter 42, Section 3607 of the United States
      Code or (b) relates to handicap but does not discriminate against handicapped
      persons. (See 9)

    

    4.           Grant
      of Transmission Line Easement of record in Deed Book 2305, page 991,and Deed
      Book 2276, page 534, in the Knox County Register’s Office. (See 10)

    

     

    American
      Golf Corporation - 11411 N. Kelly Avenue, Oklahoma City,
      Oklahoma

     

    
      	
              1.

            	
              All
                taxes not yet due and payable.

            

    

     

    
      	
              2.

            	
              All
                interest in and to all oil, gas, coal, metallic ores or other minerals
                in
                and underlying the land, together with all rights, privileges, and
                estates
                relating thereto.

            

    

     

    
      	
              3.

            	
              Section
                line road easement created under Title 43 USC Section
                1095.

            

    

     

    
      	
              4.

            	
              Easement
                in favor of Oklahoma Gas and Electric Company recorded in Book 6116,
                page
                474.

            

    

     

    
      	
              5.

            	
              Easement
                in favor of Mid-Continent Pipe Line Company recorded in Book 6124,
                page
                1739.

            

    

     

    
      	
              6.

            	
              Easement
                in favor of John A. Henry & Co., Ltd., a Texas limited partnership and
                Walter C. Wilson and Nancy N. Wilson recorded in Book 6300, page
                1584.

            

    

     

    
      	
              7.

            	
              Right-of-Way
                in favor of Oklahoma Natural Gas Company, a division of ONEOK, Inc.,
                recorded in Book 6199, page 33.

            

    

     

    
      	
              8.

            	
              Right-of-Way
                in favor of Champlin Refining Company recorded in Book 182, page
                429, as
                modified by Partial release of Right-of-Way recorded in Book 5993,
                page
                122 and in Book 5991, page 1347, subject to Non-Exclusive Assignment
                of
                Easement in favor of Williams Pipe Line Company recorded in Book
                5219,
                page 435, as modified by Partial Release and Right-of-Way Agreement
                recorded in Book 6379, page 581.

            

    

     

    
      	
              9.

            	
              Right-of-Way
                in favor of Peppers Refining Company recorded in Book 1659, page
                507.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              10.

            	
              Right-of-Way
                in favor of Peppers Refining Company recorded in Book 1659, page
                500 and
                in Book 2384, page 68, as modified by Partial Release of Pipe Line
                Right-of-Way Easement recorded in Book 2653, page 658, subject to
                Non-Exclusive Assignment of Easement in favor of Williams Pipe Line
                Company recorded in Book 5219, page
                435.

            

    

     

    
      	
              11.

            	
              Right-of-Way
                Contract in favor of Standish Pipe Line Company recorded in Book
                3937,
                page 1009.

            

    

     

    
      	
              12.

            	
              Right-of-Way
                in favor of Standish Pipe Line Company recorded in Book 518, page
                356, as
                modified by Partial Release of Right-of-Way Contract recorded in
                Book
                2654, page 411.

            

    

     

    
      	
              13.

            	
              Report
                of Commissioners in Case No. 170833 in the District Court of Oklahoma
                County, State of Oklahoma, recorded in Book 3321, page 654 and in
                Book
                3371, page 70, as modified by Release of Temporary Easement recorded
                in
                Book 3933, page 556.

            

    

     

    
      	
              14.

            	
              Easement
                in favor of The City of Oklahoma City, recorded in Book 4438, page
                688.

            

    

     

    
      	
              15.

            	
              Easement
                in favor of Oklahoma Gas and Electric Company recorded in Book 5010,
                page
                1761.

            

    

     

    
      	
              16.

            	
              Reservation
                relating to replacement of fence set forth in Warranty Deed recorded
                in
                Book 6066, page 1024.

            

    

     

    
      	
              17.

            	
              Terms
                and conditions of Right-of-Way Contract recorded in Book 6214, page
                2132,
                granted as appurtenant to the subject
                premises.

            

    

     

    
      	
              18.

            	
              Declaration
                of Restrictive Covenants filed November 9, 1989, recorded in Book
                5979,
                page 84, as modified by Corrected Declaration of Restrictive Covenants
                recorded in Book 6070, page 105, which constitutes a benefit to the
                subject premises.

            

    

     

    
      	
              19.

            	
              Unrecorded
                Lease Agreement dated September 8, 1995, between 0-Sports Golf Development
                I Limited Partnership, an Oklahoma limited partnership, lessor and
                American Golf Corporation, a California corporation, lessee and Memorandum
                of Lease filed October 25, 1995, recorded in Book 6808, page 1196
                and
                Subordination, Nondisturbance and Attornment Agreement and Third
                Amendment
                by and between The Ohio National Life Insurance Company, an Ohio
                corporation, as lender, American Golf Corporation, a California
                corporation, as tenant and 0-Sports Golf Development I Limited
                Partnership, an Oklahoma limited partnership, as landlord, filed
                April 30,
                1996, recorded in Book 6887, page
                907.

            

    

     

     

    ASML
      Lithography Holding NV - 8555 South River Parkway, Tempe,
      Arizona

    
      

      
        	
                1.

              	
                
                  The
                    liabilities, obligations and burdens imposed upon said land by
                    reason of
                    inclusion within the Salt River Project Agricultural Improvement
                    and Power
                    District and Agricultural Improvement
                    Districts.

                

              

      

    
      	
              2.

            	
              Taxes
                and assessments collectible by the County Treasurer, a lien
                not yet due and payable for the year
                2007.

            

    

    

    
      	
              3.

            	
              Easements
                as shown on the plat of "Map of Dedication-Arizona State University
                Research Park” recorded in Book 275 of Maps, page
                26.

            

    

     

    
      
        	
                4.

              	
                Unrecorded
                  Lease under the terms and conditions of Lease made
                  by:

              

      

    

     

    
      	
               

            	
              Lessor

            	
              The
                Board of Regents, acting for and on behalf of Arizona State
                University

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
               

            	
              Lessee

            	
              Arizona
                State University Research Park, Inc., an Arizona non-profit corporation,
                formerly know as Price-Elliot Research Park, Inc., an Arizona non-profit
                corporation

            

    

    
      
        	
                 

              	
                Dated

              	
                October
                  08, 1984

              

      

      
        
          	
                   

                	
                  Term

                	
                  99
                    years

                

        

        
          
            	
                     

                  	
                    As
                      disclosed by

                  	
                    Memorandum
                      of Lease

                  

          

          
            
              	
                       

                    	
                      Recorded 

                    	
                      July
                        29, 1987

                    

            

            
              
                	
                         

                      	
                        Document
                          No,

                      	
                        87-479960

                      

              

            

          

        

      

    

    

    And
      thereafter amended in an unrecorded First amendment to Ground Lease, a
      memorandum of which recorded in Document No. 91-351641, in an unrecorded Second
      Amendment to Ground Lease, a memorandum of which recorded in Document No.
      93-33412, in an unrecorded Third Amendment to Ground Lease, a memorandum of
      which recorded in Document No. 95-802147, and in an unrecorded Fourth Amendment
      to Ground Lease, a memorandum of which recorded in Document No. 97-913460,
      and
      in an unrecorded Fourth (sic) Amendment to Ground Lease, a memorandum of which
      recorded in Document No. 02-492441, and in an unrecorded Sixth Amendment to
      Ground Lease, a memorandum of which recorded in Document No.
      06-1620928.

    

    
      	
              5.

            	
              Unrecorded
                Covenants, Conditions, Restrictions and other matters omitting, if
                any,
                restrictions based on race, color, religion, sex, handicap, familial
                status or national origin attached as Exhibit F to the lease referred
                to
                in Schedule A, made by the Arizona board of Regents for and on behalf
                of
                Arizona State University.

            

    

    

    And
      a
      Declaration of Height Limitations which recorded in Document No.
      96-774295.

    

    
      	
              6.

            	
              Terms,
                Covenants and Provisions of a “Tri-Party Agreement" recorded in Document
                No. 97-740911.

            

    

    

    
      	
              7.

            	
              Covenant
                and Agreement in favor of the City of Tempe recorded in Document
                No.
                97-906170, which among other things provides for an unobstructed
                yard, 60
                feet in width.

            

    

    

    
      	
              8.

            	
              Easement
                and rights incident thereto, as set forth in
                instrument:

            

    

    

    Recorded
      in Document
      No.                       98-253045

    Purpose                                                    electric
      lines and facilities

    
      

      
        	
                9.

              	
                Easement
                  and rights incident thereto, as set forth in
                  instrument:

              

      

    

    

    Recorded
      in Document
      No.                      98-423144

    Purpose                                                    water
      lines and fire hydrants

    
      
        

        
          	
                  10.

                	
                  Easement
                    and rights incident thereto, as set forth in
                    instrument:

                

        

      

    

    

    Recorded
      in Document
      No.                       98-520687

    Purpose                                                     nitrogen
      gas line and facilities

     

    And
      thereafter a supplemental easement recorded in Document No.
      98-916245.

    
      
        

        
          	
                  11.

                	
                  Unrecorded
                    lease, under the terms and conditions of Lease made
                    by:

                

        

      

    

     

    Lessor                              Ryan
      Companies US, Inc., a Minnesota corporation

    Lessee                              AS
      Lithography, Inc., a Delaware corporation

    Dated                               August
      15, 1997

    As
      disclosed
      by                Memorandum
      of Lease Agreement

    Recorded                         July
      17, 1999

    Document
      No.                  99-705420

    

    And
      thereafter amended in unrecorded Letter Agreement dated August 15, 1997 and
      in
      July 01, 1998 in an unrecorded First Amendment to Lease dated January 06, 2000,
      and the interest of the 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

      lessor
        was
        assigned to Lexington Tempe L.P., a Delaware limited partnership, all as
        disclosed by Absolute Assignment of Lease and Assumption Agreement (ASML
        SUBLEASE) recorded April 15, 2005 in Document No. 05-487972.

    

    
      
        

        
          	
                  12.

                	
                  Easement
                    and rights incident thereto, as set forth in
                    instrument:

                

        

      

    

    

    Recorded
      Document
      No.                          02-578728

    Purpose                                                    electric
      lines and facilities

    

    
      	
              13.

            	
              Terms,
                Covenants and Provisions of an “Encroachment Permit” recorded in Document
                No. 03- 1164016, which among other things, provides for a sign in
                the
                street right-of-way.

            

    

    

    
      	
              14.

            	
              Terms,
                Covenants and Provision of a "Recognition, Nondisturbance and Attornment
                Agreement" recorded in Document No.
                05-487973.

            

    

    
      

      
        	
                15.

              	
                
                  Terms
                    and Conditions contained in "Memorandum of Payment of Refunding
                    Bonds"
                    which provides for public notice and the management, maintenance,
                    modification and repair of
                    improvements.

                

              

      

    

    

    
      	
              16.  

            	
              Easement
                and rights incident thereto, as set forth in
                instrument:

            

    

    

    Recorded
      in Document
      No.                        06-1133283

    Purpose                                                     water
      line and fire hydrants

    

    
      	
              17.

            	
              Deed
                of Trust:

            

    

    

    
      	
            	
              Amount:

            	
              $13,647,900.00

            

    

    
      	
            	
              Dated:

            	
              April
                13, 2005

            

    

    
      	
            	
              Recorded:

            	
              April
                15, 2005

            

    

    
      	
            	
              Document
                No:

            	
              05-487974

            

    

    
      	
            	
              Trustor:

            	
              Lexington
                Tempe, L.P.

            

    

    
      	
            	
              Trustee:

            	
              Chicago
                Title Insurance Company

            

    

    
      	
            	
              Beneficiary:

            	
              JP
                Morgan Chae Bank, N.A.

            

    

    

    
      	
              18.

            	
              Financing
                Statement:

            

    

    

    
      	
            	
              Debtor:

            	
              Lexington
                Tempe, L.P.

            

    

    
      	
            	
              Secured
                Party:

            	
              JP
                Morgan Chase Bank, N.A.

            

    

    
      	
            	
              Recorded:

            	
              April
                15, 2005

            

    

    
      	
            	
              Document
                No:

            	
              05-487975

            

    

    

     

    AT&T
      Wireless Services, Inc. - 3201 Quail Springs Parkway, Oklahoma City,
      Oklahoma

     

    1.           Fees,
      taxes and assessments made by any taxing authority for the year 2007
      which

     
      are not yet ascertainable, due or payable, and all subsequent
      years.

    

    2.           Easement
      in favor of the City of Oklahoma City, a municipal corporation,recorded in
      Book
      5456, page 1762. (6)

    

    3.           Easement
      in favor of the City of Oklahoma City, a municipal corporation,recorded in
      Book
      5851, page 687. (7)

    

    4.           Easement
      in favor of The City of Oklahoma City (“City”) and any trust of whichthe City is
      sole beneficiary, recorded in Book 7458, page 1747, as modified by thePartial
      Release of Easement recorded in Book 8005, page 524. (8)

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    5.           Permanent
      Easement in favor of the City of Oklahoma City, a municipalcorporation, recorded
      in Book 7649, page 1718. (9)

    

    6.           Permanent
      Easement in favor of the City of Oklahoma City, a municipalcorporation, recorded
      in Book 7649, page 1723. (10)

    

    7.           Easement
      in favor of The City of Oklahoma City (“City”) and any trust of whichthe City is
      sole beneficiary, recorded in Book 7970, page 265. (11)

    

    8.           Easement
      in favor of Oklahoma Gas and Electric Company recorded in Book7875, page 648.
      (12)

    

    9.           Easement
      in favor of Oklahoma Gas and Electric Company recorded in Book8038, page 600.
      (13)

    

    10.         Covenants,
      conditions, restrictions, reservations, easements and liens forassessments
      set
      forth in the Declaration of Protective Covenants Quail SpringsOffice Park
      recorded in Book 4997, page 999, Amendment to Declaration ofProtective Covenants
      Quail Springs Office Park recorded in Book 5230, page 44 and Second Amendment
      to
      Declaration of Protective Covenants Quail Springs Office Park recorded in Book
      7269, page 735. (14)

    

    11.       Mortgage,
      Assignment of Leases and Rents, Security Agreement and Financing

    Statement
      executed by Lexington Oklahoma City L.P. (“Lexington”) and LXP LCI LLC in favor
      of JPMorgan Chase Bank, N.A. (“JPMorgan”), dated April 13, 2005, filed April 28,
      2005 and recorded in Book 9690, page 1010, as modified by Amended and Restated
      Mortgage, Assignment of Leases and Rents, Security Agreement and Financing
      Statement executed by Lexington and 7th STREET
      Inc., d/b/a
      Sheldon Cole Enterprises, dated May 23, 2005, filed June 2, 2005, recorded
      in
      Book 9729, page 1335, as assigned to LaSalle Bank National Association, as
      trustee for the Registered Holders of J.P. Morgan Chase Commercial Mortgage
      Securities Corp., Commercial Mortgage Pass-Though Certificates, Series
      2005-CIBC12 by the Assignment of Amended and Restated Mortgage, Assignment
      of
      Leases and Rents, Security Agreement and Financing Statement filed December
      15,
      2005, recorded in Book 9955, page 190. (B I 6)

    

    
      	
              12.

            	
              UCC
                Financing Statement filed April 28, 2005, recorded in Book 9690,
                page
                1179, wherein Lexington Oklahoma City L.P. and LXP LCI LLC are debtors
                and
                JPMorgan Chase Bank, N.A., is secured party. UCC Financing Statement
                Amendment filed December 15, 2005, recorded in Book 9955, page 209,
                being
                an assignment to LaSalle Bank National Association, as trustee for
                the
                Registered Holders of J.P. Morgan Chase Commercial Mortgage Securities
                Corp., Commercial Mortgage Pass-Though Certificates, Series 2005-CIBC12.
                (B I 7(a))

            

    

    

    13.       UCC
      Financing Statement filed June 2, 2005, recorded in Book 9729, page

    1368,
      wherein Lexington Oklahoma City L.P. and 7th STREET,
      Inc. d/b/a
      Sheldon Cole Enterprises are debtors and JPMorgan Chase Bank, N.A., is secured
      party. UCC Financing Statement Amendment filed December 15, 2005, recorded
      in
      Book 9955, page 206, being an assignment to LaSalle Bank National Association,
      as trustee for the Registered Holders of J.P. Morgan Chase Commercial Mortgage
      Securities Corp., Commercial Mortgage Pass-Though Certificates, Series
      2005-CIBC12. (B I 7(b))

    

     

    Baker
      Hughes, Inc. - 9110 Grogans Mill Road, Houston, Texas

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Baker
      Hughes, Inc. - 2529 West Thorne Drive, Houston, Texas

     

     

    Baker
      Hughes, Inc. - 12645 West Airport Road, Sugarland,
      Texas

     

    

    Bay
      Valley Foods, LLC - 2935 Van Vactor Way, Plymouth,
      Indiana

     

    
      	
              1.  

            	
              Mortgage,
                Security Agreement and Fixture Filing for $6,675,000.00 from LSAC
                Plymouth
                L.P., a Delaware limited partnership to LaSalle Bank National Association
                dated August 10, 2006, recorded August 11, 2006, as Instrument No.
                200605893, Recorder's Office, Marshall County, Indiana. Assignment
                of
                Mortgage, Security Agreement and Fixture Filing and Assignment of
                Assignment of Leases and Rent, from LaSalle Bank National Association
                to
                Wells Fargo Bank, N.A., recorded April 23, 2007, as Instrument #200702471,
                Recorder's Office, Marshall County,
                Indiana.

            

    

     

    
      	
              2.  

            	
              Assignment
                of Leases and Rents from LSAC Plymouth L.P., Q Delaware limited
                partnership to LaSalle Bank National Association dated August 10,
                2006,
                recorded with the Registry of Deeds for Marshall County on August
                11,
                2006, as Instrument No. 200605894. Assignment of Mortgage, Security
                Agreement and Fixture Filing and Assignment of Assignment of Leases
                and
                Rent, from LaSalle Bank National Association to Wells Fargo Bank,
                N.A.,
                recorded April 23, 2007, as Instrument #200702471, Recorder's Office,
                Marshall County, Indiana.

            

    

     

    
      	
              3.  

            	
              UCC
                Financing Statement listing LSAC Plymouth L.P., a Delaware limited
                partnership, as debtor, and LaSalle Bank National Association, as
                secured
                party, recorded with the Registry of Deeds for Marshall County on
                August
                11, 2006, as Instrument No. U20060121, and for the Secretary of the
                State
                of Indiana. ASSIGNED, by Amendment of UCC Financing Statement recorded
                April 23, 2007, as Instrument #U20070031, Recorder's Office, Marshall
                County, Indiana.

            

    

     

    
      	
              4.  

            	
              Taxes
                for 2006 due and payable 2007, a lien, but not yet due and payable
                and
                taxes for all subsequent years, which are not yet a
                lien.(6)

            

    

     

    
      	
              5.  

            	
              Final
                plat and restrictions recorded September 14, 2001, as Instrument
                #200107472, Recorder's Office, Marshall County,
                Indiana.(8)

            

    

     

    
      	
              6.  

            	
              Lease
                as evidenced by Subordination, Non-Disturbance and Attornment Agreement
                between Bay Valley Foods, LLC, a Delaware limited liability company
                (as
                Tenant) and LaSalle Bank National Association, a national banking
                association, (as Lender), dated August 10, 2006, recorded August
                11, 2006,
                as Instrument #200605896, Recorder's Office, Marshall County,
                Indiana.(12)

            

    

     

     

    CAE
      Simuflite, Inc. (CAE Inc.) - 29 South Jefferson Road, Hanover, New
      Jersey

     

     

    
      	
               

            	
              1.

            	
              Mortgage,
                Assignment of Leases and Rents, Fixture Filing and Security Agreement
                made
                by LSAC Morris County, L.P. to Mortgage Electric Registration Systems,
                Inc., dated November 15, 2006, recorded November 15, 2006, in Mortgage
                Book 20669, page 688.  Secures:  $16,900,000.00
                (Sixteen Million Nine Hundred Thousand and
                00/100).(4)

            

    

     

    
      	
               

            	
              (a)

            	
              Corrective
                Mortgage, Assignment of Leases and Rents, Fixture Filing and Security
                Agreement dated November 14, 2006, recorded January 2, 2007 in Mortgage
                Book 20703, page 457.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
               

            	
              (b)

            	
              County
                UCC Financing Statement vs. LSAC Morris County, L.P. recorded November
                15,
                2006 in Book 20669, page 733.

            

    

     

    
      	
               

            	
              (c)

            	
              County
                UCC Financing Statement vs. LSAC Morris County L.P., recorded November
                15,
                2006 in Book 20669, page 738.

            

    

     

    
      	
               

            	
              2.

            	
              Subject
                to 75 foot setback line as shown on map entitled “Subdivision of Property
                of Richard W. McEwan, Jr.” and filed with the Morris County Clerk’s Office
                as Map No.
                2448.(9)

            

    

     

    
      	
               

            	
              3.

            	
              Subject
                to Easement Agreement in Deed Book 6161, page
                43.(11)

            

    

     

    
      	
               

            	
              4.

            	
              Subject
                to Developers Agreement as set forth in Deed Book 6476, page
                162.(13)

            

    

     

    
      	
               

            	
              5.

            	
              Subject
                to rights of tenants, as tenants only, under lease recorded or unrecorded
                as evidence by but not limited to the following:
                (14)

            

    

    
       

      
        	
                 

              	
                (a)

              	
                
                  Lease
                    by and between HP Whippany, LLCV and CAE Simuflite Inc. as evidenced
                    by
                    Memorandum of Lease recorded in the Morris County Clerk’s Office on
                    October 18, 2005 in Deed Book 6458, page 209 and as affected
                    by
                    Subordination, Non-Disturbance and Attornment Agreement recorded
                    in the
                    Morris County Clerk’s Office on November 15, 2006 in Book 20669, page
                    717.

                

              

      

      
        
           

          
            	
                     

                  	
                    (b)

                  	
                    
                      
                        Assignment
                          of Assumption of Lease and Guaranty Agreement by and between
                          HP Whippany,
                          LLC and LSAC Morris County, L.P. recorded November 15,
                          2006 in Book 20669,
                          page 710.

                      

                    

                  

          

          
 

        

      

    

     

    Corning,
      Inc. - 736 Addison Road, Erwin, New York

     

     

    
      	
              1.

            	
              Grant
                from Samuel Miles to New York Central Electric Corporation recorded
                September 17, 1925 in Liber 396 cp 57. (noted on survey
                herein).

            

    

     

    
      	
              2.

            	
              Grant
                from Samuel Miles to New York Central Electric Corporation recorded
                May
                11, 1926 in Liber 397 cp 115. (noted on survey
                herein).

            

    

     

    
      	
              3.

            	
              Gas
                Pipeline Easement from Ambrose E. Scudder (et al) to Corning Natural
                Gas
                Corporation recorded August 13, 1957 in Liber 729 cp 62. (noted on
                survey
                herein).

            

    

     

    
      	
              4.

            	
              Grant
                from Phillip W. Scudder (et al) to New York Telephone Company recorded
                September 29, 1960 in Liber 781 cp 537. (noted on survey
                herein).

            

    

     

    
      	
              5.

            	
              New
                York State Department of Environmental Conservation Easement, Map
                No. 2
                Parcel 9 acquired under Notice of Appropriation recorded November
                8, 1976
                in Liber 969 cp 1086, reference to filed Map No. 4911. (noted on
                survey
                herein).

            

    

     

    
      	
              6.

            	
              Thirty-foot
                Sewer Easement as shown on Map No. 10113. (noted on survey
                herein).

            

    

     

    
      	
              7.

            	
              Easement
                from 736 Addison Road LLC to New York State Electric & Gas Corporation
                dated 03-20-06 and recorded 05-04-06 in Liber 2015 cp
                224.

            

    

     

    
      	
              8.

            	
              Easement
                from 736 Addison Road, LLC to Time Warner Cable dated May 22, 2006
                and
                recorded June 12, 2006 in Liber 2022 of deeds at page
                266.

            

    

    

    As
      to the
      above items, Policy/Company insures that the building as shown on survey herein
      last dated May 19, 2006 (Job No. 12781.01) may remain undisturbed 

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

      notwithstanding
        the said easements and agreements.

    

    

    
      	
              9.

            	
              Terms,
                covenants, conditions, agreements and other matters set forth in
                Lease
                Agreement between Corning Property Management Corporation, lessor,
                and
                Vandermark Exploration Inc. lessee, (Oil and Gas Lease) dated January
                13,
                2005 as evidenced by Memorandum recorded January 21, 2005 in Liber
                1928 cp
                213, as amended by Amendment of Oil and Gas Lease dated as of 10-4-05,
                evidenced by Memorandum of Amendment of Oil and Gas Lease dated 10-12-05
                and recorded 10-17-05 in Liber 1979 cp 182; partially assigned by
                Liber
                2073 cp 124 and Liber 2073 cp 127. (area affected by lease as amended
                is
                shown on survey herein made by Weiler Associates last revised May
                19, 2006
                (Job No. 12781.01).

            

    

    

    
      	
              10.

            	
              Terms,
                covenants, conditions, agreements and other matters set forth in
                unrecorded lease between 736 Addison Road, LLC and Corning Incorporated,
                dated September 30, 2005, as amended by First Amendment to Lease
                dated
                May_, 2006.

            

    

     

    
      	
              11.

            	
              Absolute
                Assignment of Leases and Rents between Lexington TNI Erwin L.P. and
                Transamerica Occidental Life Insurance Company dated September 28,
                2006
                and recorded in the Steuben County Clerk's Office October 10, 2006
                in
                Liber 2692 cp 312.

            

    

     

    
      	
              12.

            	
              Subordination,
                Non-Disturbance and Attornment Agreement between Corning Incorporated
                and
                Transamerica Occidental Life Insurance Company dated September 28,
                2006
                and recorded in the Steuben County Clerk's Office October 10, 2006
                in
                Liber 2692 cp 331.

            

    

    

     

    Cox
      Communications, Inc. - 1440 East 15th
      Street,
      Tucson, Arizona

    
 

    
      	
              1.

            	
              Taxes
                which are not yet due nor payable.
                (1)

            

    

    

    
      	
              2.

            	
              Water
                rights, claims or title to water, and agreements, covenants, conditions
                or
                rights incidental thereto, whether or not shown in the public
                records.  (2)

            

    

    

    
      	
              3.

            	
              Easements,
                restrictions, reservations, and conditions as set forth on the recorded
                plat of said
                subdivision.  (3)

            

    

    

    
      	
              4.

            	
              Easement
                and Right of Way between the City of Tucson and Catalina Broadcasting
                Company dated and recorded on September 4 , 1946 in Records Book
                102 and
                Page
                547.  (4)

            

    

    

    
      	
              5.

            	
              Any
                private rights or easements on, under and across those portions of
                the
                land lying within the road, street or alley as found in a deed recorded
                in
                Docket 28, Page 590 in connection with a sale of land between the
                City of
                Tucson and Catalina Broadcasting Company.  (5,
                6)

            

    

    

    
      	
              6.

            	
              Right
                of Way Easement interest granted by Cooke Cablevision of Tucson,
                Inc. to
                Tucson Electric Power Company recorded on July 14, 1988 in Docket
                28, Page
                590.   (7)

            

    

    

    
      	
              7.  

            	
              Terms
                and Provision set forth within the Memorandum of Site License Agreement
                recorded on March 20, 2002 as instrument number in Docket 11760 at
                Page
                1164 of the Records of Pima County, Arizona, between CoxCom, Inc.
                and
                Verizon
                Wireless.  (12)

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              8.

            	
              Rights
                of CoxCom, Inc. in Lease Agreement as referenced in Assignment and
                Assumption of Lease recorded July 20, 1998 in Docket 10841 at Page
                1919.  (11)

            

    

    

    
      	
              9.

            	
              Non-exclusive
                easement granted by Net 2 Cox,
                LLC to the Arizona Board of Regents on behalf of the University of
                Arizona
                recorded in Docket 12103, Page
                3979.  (13)

            

    8.  

     

    Dana
      Corporation - 6938 Elm Valley Drive, Kalamazoo,
      Michigan

     

    
      	
              1.  

            	
              All
                taxes not yet due and
                payable.  (3)

            

    

     

    
      	
              2.  

            	
              Easement
                granted to Consumers Energy Company, dated January 12, 1939 and recorded
                in Liber 378, page 342.
(4)

            

    

     

    
      	
              3.  

            	
              Deed
                to Consumers Energy Company, dated March 6, 1970 and recorded in
                Liber
                849, page 392 (5)

            

    

     

    
      	
              4.  

            	
              Easement
                granted to Consumers Energy Company, dated March 6, 1970 and recorded
                in
                Liber 850, page
                415.  (6)

            

    

     

    
      	
              5.  

            	
              Easement
                Agreement for Water Retention, recorded October 9, 1998 in Liber
                2077,
                page
                1092.  (7)

            

    

     

    
      	
              6.  

            	
              Deed
                dated November 9, 1995 in Liber 1829, page
                1060.  (8)

            

    

     

    
      	
              7.  

            	
              Watermain
                Easement from Spicer Heavy Axle and Brake, Inc. to Charter Township
                of
                Texas, Kalamazoo County and the City of Kalamazoo, recorded July
                1, 1999
                as document
                1999-029735.  (9)

            

    

     

    
      	
              8.  

            	
              Easement
                from Dana Commercial Credit Corporation to Texas Charter Township
                and the
                City of Kalamazoo, recorded October 19, 2001 as document
                2001-044405.  (10)

            

    

     

    
      	
              9.  

            	
              Watermain
                Easement from Kalamazoo Valley Community College Holding Company
                to
                Charter Township of Texas, recorded April 29, 2003 as document
                2003-029558.  (11)

            

    

     

    
      	
              10.  

            	
              Rights
                of the co-owners of Kalamazoo Valley Education and Office Park in
                the
                common elements as set forth in the Master Deed recorded August 18,
                1998
                in Liber 2060, page 836.
                (12)

            

    

     

    
      	
              11.  

            	
              Lease
                between Danacq Kalamazoo LLC as landlord and Dana Corporation as
                tenant,
                as evidenced by the Memorandum of Lease recorded November 7, 2001
                as
                document 2001-047401.  (Requirement
                6)

            

    

     

    
      	
              12.  

            	
              Mortgage
                by Lexington Kalamazoo L.P. to JPMorgan Chase Bank, N.A., now held
                by
                Wells Fargo Bank N.A. in the amount of
                $17,625,000.  (Requirement
                4)

            

    

     

     

    Dana
      Corporation - 730 North Black Branch Road, Elizabethtown,
      Kentucky

     

    

    
      	
              1.

            	
              All
                taxes not yet due and payable.

            

    

     

    
      	
              2.

            	
              Conditions,
                stipulations, restrictions, building lines and easements, together
                with
                incidental rights, as provided for on the recorded Plat of record
                in Plat
                Cabinet 1, Plat Slide 2514 and amended in Plat Cabinet 1, Plat Slide
                2673,
                in the Office of the Clerk of Hardin County,
                Kentucky.

            

    

     

    
      	
              3.

            	
              Protective
                Covenants for Hughes Commerce Center and Declaration of Restrictions,
                dated September 13, 1978, of record in Deed Book 362, Page 274, in
                the
                Office of the Clerk of Hardin County,
                Kentucky.

            

    

     

    
      	
              4.

            	
              Rights
                of others to use so much of subject property as lies within any publicly
                dedicated roadway or right-of-way.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              5.

            	
              All
                coal, oil, gas and other mineral rights heretofore conveyed, excepted,
                reserved or leased, together with all incidental rights
                thereto.

            

    

     

    
      	
              6.

            	
              Terms
                and Conditions of Memorandum of Ground Lease by and between DANA
                COMMERCIAL CREDIT CORPORATION, a Delaware corporation (Lessor) and
                LEXINGTON ELIZABETHTOWN 730 CORP., a Delaware corporation (Lessee),
                dated
                June 30, 2005, of record in Deed Book 1158, Page 129, as amended
                and
                restated by Amended and Restated Memorandum of Ground Lease, dated
                August
                31, 2005, of record in Deed Book 1164, Page 407 in the Office of
                the Clerk
                of Hardin County, Kentucky.

            

    

     

    
      	
              7.

            	
              Terms
                and Conditions of Memorandum of Ground Lease by and between DANA
                COMMERCIAL CREDIT CORPORATION, a Delaware corporation (Lessee) and
                LEXINGTON ELIZABETHTOWN 730 CORP., a Delaware corporation (Lessor),
                dated
                June 30, 2005, of record in Deed Book 1158, Page 144, as affected
                by
                Subordination, Non-Disturbance and Attornment Agreement, dated August
                31,
                2005, by and among COUNTRYWIDE COMMERCIAL REAL ESTATE FINANCE, INC.,
                a
                California corporation (Lender), LEXINGTON ELIZABETHTOWN 730 CORP.,
                a
                Delaware corporation (Landlord), and DANA CORPORATION, a Virginia
                corporation (Tenant), of record in Deed Book 1164, Page 434, in the
                Office
                of the Clerk of Hardin County,
                Kentucky.

            

    

     

    
      	
              8.

            	
              Leasehold
                Mortgage, Assignment of Leases and Rents, Security Agreement and
                Fixture
                Filing to secure $4,822,348.00 from LEXINGTON ELIZABETHTOWN 730 CORP.,
                a
                Delaware corporation, in favor of COUNTRYWIDE COMMERCIAL REAL ESTATE
                FINANCE INC., a California corporation dated August 31, 2005, and
                recorded
                in Mortgage Book 1516, Page 530, in the Office of the Clerk of Hardin
                County, Kentucky.

            

    

     

    
      	
              9.

            	
              Leasehold
                Mortgage, Assignment of Leases and Rents, Security Agreement and
                Fixture
                Filing to secure $4,822,348.00 in favor of COUNTRYWIDE COMMERCIAL
                REAL
                ESTATE FINANCE INC., a California corporation, dated August 31, 2005,
                and
                recorded in Mortgage Book 1516, Page 598, in the Office of the Clerk
                of
                Hardin County, Kentucky.

            

    

     

    
      	
              10.

            	
              Assignment
                of Leases and Rents from LEXINGTON ELIZABETHTOWN 730 CORP., a Delaware
                corporation, in favor of COUNTRYWIDE COMMERCIAL REAL ESTATE FINANCE
                INC.,
                a California corporation dated August 31, 2005, and recorded in Mortgage
                Book 1164, Page 416, in the Office of the Clerk of Hardin County,
                Kentucky.

            

    

     

    
      	
              11.

            	
              Financing
                Statement filed with COUNTRYWIDE COMMERCIAL REAL ESTATE FINANCE INC.,
                as
                Secured Party, and LEXINGTON ELIZABETHTOWN 730 CORP., a Delaware
                corporation, as Debtor, as shown of record in Mortgage Book 1516,
                Page
                584, in the Office of the Clerk of Hardin County,
                Kentucky.

            

    

     

    
      	
              12.

            	
              Subordination,
                Non-Disturbance and Attornment Agreement, dated August 31, 2005,
                by and
                among COUNTRYWIDE COMMERCIAL REAL ESTATE FINANCE INC., a California
                corporation (Lender), LEXINGTON ELIZABETHTOWN 730 CORP., a Delaware
                corporation (Landlord) and DANA CORPORATION, a Virginia corporation
                (Tenant), of record in Deed Book 1164, Page 434, in the Office of
                the
                Clerk of Hardin County, Kentucky.

            

    

     

     

    Dana
      Corporation - 750 North Black Branch Road, Elizabethtown,
      Kentucky

     

    

    
      	
              1.

            	
              All
                taxes not yet due and payable.

            

    

     

    
      	
              2.

            	
              Conditions,
                stipulations, restrictions, building lines and easements, together
                with
                incidental rights, as provided for on the recorded Plat of record
                in Plat
                Cabinet 1, Plat Slide 2514 and amended in Plat Cabinet 1, Plat Slide
                2673,
                in the Office of the Clerk of Hardin County,
                Kentucky.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              3.

            	
              Protective
                Covenants for Hughes Commerce Center and Declaration of Restrictions,
                dated September 13, 1978, of record in Deed Book 362, Page 274, in
                the
                Office of the Clerk of Hardin County,
                Kentucky.

            

    

     

    
      	
              4.

            	
              Rights
                of others to use so much of subject property as lies within any publicly
                dedicated roadway or right-of-way.

            

    

     

    
      	
              5.

            	
              All
                coal, oil, gas and other mineral rights heretofore conveyed, excepted,
                reserved or leased, together with all incidental rights
                thereto.

            

    

     

    
      	
              6.

            	
              Leasehold
                Mortgage, Assignment of Leases and Rents, Security Agreement and
                Fixture
                Filing to secure $25,602,534.00 from LEXINGTON ELIZABETHTOWN 750
                CORP., a
                Delaware corporation, in favor of COUNTRYWIDE COMMERCIAL REAL ESTATE
                FINANCE INC., a California corporation, dated August 31, 2005, and
                recorded in Mortgage Book 1516, Page 557, in the Office of the Clerk
                of
                Hardin County, Kentucky.

            

    

     

    
      	
              7.

            	
              Leasehold
                Mortgage, Assignment of Leases and Rents, Security Agreement and
                Fixture
                Filing to secure $25,602,534.00 in favor of COUNTRYWIDE COMMERCIAL
                REAL
                ESTATE FINANCE INC., a California corporation, dated August 31, 2005,
                and
                recorded in Mortgage Book 1516, Page 624, in the Office of the Clerk
                of
                Hardin County, Kentucky.

            

    

     

    
      	
              8.

            	
              Assignment
                of Leases and Rents from LEXINGTON ELIZABETHTOWN 750 CORP., a Delaware
                corporation, in favor of COUNTRYWIDE COMMERCIAL REAL ESTATE FINANCE
                INC.,
                a California corporation, dated August 31, 2005, and recorded in
                Mortgage
                Book 1164, Page 425, in the Office of the Clerk of Hardin County,
                Kentucky.

            

    

     

    
      	
              9.

            	
              Financing
                Statement filed with COUNTRYWIDE COMMERCIAL REAL ESTATE FINANCE INC.,
                as
                Secured Party, and LEXINGTON ELIZABETHTOWN 750 CORP., a Delaware
                corporation, as Debtor, as shown of record in Mortgage Book 1516,
                Page
                591, in the Office of the Clerk of Hardin County,
                Kentucky.

            

    

     

    
      	
              10.

            	
              Subordination,
                Non-Disturbance and Attornment Agreement, dated August 31, 2005,
                by and
                among COUNTRYWIDE COMMERCIAL REAL ESTATE FINANCE INC., a California
                corporation (Lender), LEXINGTON ELIZABETHTOWN 750 CORP., a Delaware
                corporation (Landlord) and DANA CORPORATION, a Virginia corporation
                (Tenant), of record in Deed Book 1164, Page 447, in the Office of
                the
                Clerk of Hardin County, Kentucky.

            

    

     

    
      	
              11.

            	
              Terms
                and Conditions of Memorandum of Ground Lease by and between DANA
                COMMERCIAL CREDIT CORPORATION, a Delaware corporation (Lessor) and
                LEXINGTON ELIZABETHTOWN 750 CORP., a Delaware corporation (Lessee),
                dated
                June 30, 2005, of record in Deed Book 1158, Page 121, as amended
                and
                restated by Amended and Restated Memorandum of Ground Lease, dated
                August
                31, 2005, of record in Deed Book 1164, Page 398, both in the Office
                of the
                Clerk of Hardin County, Kentucky.

            

    

     

    
      	
              12.

            	
              Terms
                and Conditions of Memorandum of Ground Lease by and between DANA
                COMMERCIAL CREDIT CORPORATION, a Delaware corporation (Lessee) and
                LEXINGTON ELIZABETHTOWN 750 CORP., a Delaware corporation (Lessor),
                dated
                June 30, 2005, of record in Deed Book 1158, Page 137, as affected
                by
                Subordination, Non-Disturbance and Attornment Agreement, dated August
                31,
                2005, by and among COUNTRYWIDE COMMERCIAL REAL ESTATE FINANCE, INC.,
                a
                California corporation (Lender), LEXINGTON ELIZABETHTOWN 750 CORP.,
                a
                Delaware corporation (Landlord), and DANA CORPORATION, a Virginia
                corporation (Tenant), of record in Deed Book 1164, Page 447, in the
                Office
                of the Clerk of Hardin County,
                Kentucky.

            

    

     

    
      	
              13.

            	
              Railroad
                Easement granted the City of Elizabethtown, Kentucky and Shannon
                Properties, Inc., dated January 6, 1994, of record in Deed Book 777,
                Page
                521, in the Office of the Clerk of Hardin County,
                Kentucky.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              14.

            	
              Certificate
                of Land Use Restrictions with the Hardin County Planning Commission
                of
                record in Deed Book 950, Page 277, in the Office of the Clerk of
                Hardin
                County, Kentucky.

            

    

     

    
      	
              15.

            	
              Restrictions
                and stipulations (deleting any restrictions indicating any preference,
                limitation or discrimination based on race, color, religion, sex,
                handicap, familial status or national origin) of record in Plat Cabinet
                1,
                Slides 1075 and 1453, as amended by Amendments to Ownership Certifications
                recorded in Deed Book 777, Page 509, and Deed Book 778, Page 73,
                Plat
                Cabinet 1, Slides 1462, 1463, and 1547, and Amended Record Plat recorded
                in Plat Cabinet 1, Slide 2673, all in the Office aforesaid. A violation
                of
                said restrictions and stipulations will not work a forfeiture or
                reversion
                of title.

            

    

     

     

    Dana
      Corporation - 10000 Business Boulevard, Dry Ridge,
      Kentucky

     

    

    
      	
              1.

            	
              All
                taxes not yet due and payable.

            

    

     

    
      	
              2.

            	
              Lease
                as evidenced by Memorandum of Lease between Lexington Dry Ridge Corp.,
                a
                Delaware corporation, (Lessor) and Dana Corporation, a Virginia
                Corporation (Lessee), dated June 30, 2005 and filed on July 11, 2005
                in
                Deed Book 309, page 663, Grant County
                Records.

            

    

     

    
      	
              3.

            	
              Right-of-Way
                and/or Easement for gas, electric and/or utility lines or facilities;
                for
                the transmission and/or distribution of electric energy and/or gaseous
                substances; and/or for other utility purposes; and for any and all
                purposes for which gas and/or electric energy and/or distribution
                and/or
                gaseous substances, together with underground facilities, if any,
                granted
                to Union, Light, Heat and Power, by instrument dated October 6, 1989,
                and
                recorded in Deed Book 177, Page 95, of the Grant County Records;
                said
                Grant of Easement being partially released pursuant to Quitclaim
                Deed of
                Part of Easement, dated August 12, 1998, and recorded in Deed Book
                243,
                Page 636, of the Grant County
                Records.

            

    

     

    
      	
              4.

            	
              Easements
                for the installation and operation of telecommunication lines and
                poles,
                as granted to American Telephone and Telegraph Company of Kentucky,
                Inc.,
                dated November 29, 1938, and recorded in Deed Book 59, Page 15 and
                16, of
                the Grant County Records.

            

    

     

    
      	
              5.

            	
              Grant
                of Easement for the purpose of erecting and operation poles, wire
                and
                conduits, as granted to Citizens Telephone Company, by Grant of Easement,
                dated October 11, 1950, and recorded in Deed Book 74, Page 470, of
                the
                Grant County Records.

            

    

     

    
      	
              6.

            	
              Easements
                for the construction and maintenance of drainage structures, slopes
                and
                ditches, as granted to City of Dry Ridge, Grant County, Kentucky,
                by Deed
                of Conveyance dated June 8, 1988, and recorded in Deed Book 169,
                Page 244,
                of the Grant County Records.

            

    

     

    
      	
              7.

            	
              Subject
                to stipulation, conditions and restrictions as set forth in Declaration
                of
                Protective Covenants by Grant County Industrial Park, dated September
                8,
                1988, and recorded in Deed Book 170, Page 368, of the Grant County
                Records.

            

    

     

    
      	
              8.

            	
              Right-of-Way
                and/or Easement for transmission and/or distribution of electric
                energy,
                including underground facilities, if any, granted to Union, Light,
                Heat
                and Power Company, by instrument dated June 5, 1998, and recorded
                in Deed
                Book 241, Page 121, of the Grant County
                Records.

            

    

     

    
      	
              9.

            	
              Right-of-Way
                and/or Easement for transmission and/or distribution of electric
                energy,
                including underground facilities, if any, granted to Union, Light,
                Heat
                and Power Company, recorded in Deed Book 290, Page 14, of the Grant
                County
                Records.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              10.

            	
              Easements
                as shown in Deed, dated September 6, 1988, and recorded in Deed Book
                170,
                Page 380 and referenced in Deed to Dana Commercial Credit Corporation,
                a
                Delaware corporation, dated October 17, 1997, and recorded in Deed
                Book
                234, Page 334, of the Grant County
                Records.

            

    

     

    
      	
              11.

            	
              Terms
                and conditions of Ground Lease, together with Option to Purchase
                and First
                Right of Refusal in favor of Lexington Dry Ridge Corp., a Delaware
                corporation, as evidenced by a Memorandum of Ground Lease recorded
                in Deed
                Book 309, Page 651, as amended and evidenced by an Amended and Restated
                Memorandum of Ground Lease recorded in Deed Book 311, Page 211 of
                the
                Grant County Records.

            

    

     

    
      	
              12.

            	
              Rights
                of the Public and others entitled thereto in and to the use of that
                portion of the property within the bounds of any publicly dedicated
                road
                or highways.

            

    

     

    
      	
              13.

            	
              Leasehold
                Mortgage, Assignment of Leases and Rents, Security Agreement and
                Fixture
                Filing from Lexington Dry Ridge Corp., a Delaware corporation to
                Countrywide Commercial Real Estate Finance Inc., in the amount of
                $12,127,609.00, and filed on September 8, 2005 and recorded in Mortgage
                Book 333, Page 799, of the Grant County
                Records.

            

    

     

    
      	
              14.

            	
              Subordination,
                Non-Disturbance and Attornment Agreement between Countrywide Commercial
                Real Estate Finance Inc. and Lexington Dry Ridge Corp., a Delaware
                corporation, and Dana Corporation filed on September 8, 2005 and
                recorded
                in Mortgage Book 334, Page 31, of the Grant County
                Records.

            

    

     

    
      	
              15.

            	
              Assignment
                of Leasehold Mortgage, Assignment of Leases and Rents, Security Agreement
                and Fixture Filing by Countrywide Commercial Real Estate Finance
                Inc., to
                LaSalle Bank National Association, as Trustee for Registered Holders
                of
                ML-CFC Commercial Mortgage Trust 2007-5, Commercial Mortgage Pass-Through
                Certificates, Series 2007-5 filed on April 2, 2007 in Mortgage Book
                368,
                Page 92, of the Grant County
                Records.

            

    

     

    
      	
              16

            	
              Assignment
                of Leases and Rents from Lexington Dry Ridge Corp., a Delaware corporation
                to Countrywide Commercial Real Estate Finance Inc., and recorded
                in
                Mortgage Book 333, Page 830, of the Grant County
                Records.

            

    

     

    
      	
              17.

            	
              Leasehold
                Mortgage, Assignment of Leases and Rents, Security Agreement and
                Fixture
                Filing from Lexington Dry Ridge Corp., a Delaware corporation to
                Countrywide Commercial Real Estate Finance Inc., in the amount of
                $12,127,609.00, and filed on September 8, 2005 and recorded in Mortgage
                Book 334, Page 1, of the Grant County
                Records.

            

    

     

    
      	
              18.

            	
              Subordination,
                Non-Disturbance and Attornment Agreement between Countrywide Commercial
                Real Estate Finance Inc. and Lexington Dry Ridge Corp., a Delaware
                corporation, and Dana Corporation filed on September 8, 2005 and
                recorded
                in Mortgage Book 334, Page 31, of the Grant County
                Records.

            

    

     

    
      	
              19.

            	
              Assignment
                of Leasehold Mortgage, Assignment of Leases and Rents, Security Agreement
                and Fixture Filing by Countrywide Commercial Real Estate Finance
                Inc., to
                LaSalle Bank National Association, as Trustee for Registered Holders
                of
                ML-CFC Commercial Mortgage Trust 2007-5, Commercial Mortgage Pass-Through
                Certificates, Series 2007-5 filed on April 3, 2007 in Mortgage Book
                368,
                Page 106, of the Grant County
                Records.

            

    

     

    
      	
              20.

            	
              UCC-1
                Financing Statement listed debtor as Lexington Dry Ridge Corp., a
                Delaware
                corporation and secured party as Countrywide Commercial Real Estate
                Finance Inc., filed on September 8, 2005 in Book FF2, Page 188 of
                the
                Grant County Records.

            

    

     

    
      	
              21.

            	
              UCC-3
                Financing Statement Amendment assigning to LaSalle Bank National
                Association, as Trustee for Registered Holders of ML-CFC Commercial
                Mortgage Trust 2007-5, Commercial Mortgage Pass-Through Certificates,
                Series 2007-5 filed on April 12, 2007 in Book FF2, Page 341, in the
                Grant
                County Records.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Dana
      Corporation - 301 Bill Byran Boulevard, Hopkinsville,
      Kentucky

     

    

    
      	
              1.

            	
              All
                taxes not yet due and payable.

            

    

     

    
      	
              2.

            	
              Conditions,
                stipulations, restrictions, building lines and easements, together
                with
                incidental rights, as provided for on the recorded Plat of record
                in Plat
                Cabinet 1, Slide 310, Plat Cabinet 1, Slide 391, and Plat Cabinet
                7, Slide
                456, all in Christian County,
                Kentucky.

            

    

     

    
      	
              3.

            	
              Conditions,
                stipulations, restrictions, building lines and easements, together
                with
                incidental rights, as set out in instrument of record in Deed Book
                465,
                Page 481, in Christian County,
                Kentucky.

            

    

     

    
      	
              4.

            	
              Terms
                and conditions of Deed of Dedication and Restrictions dated April
                123,
                1975, by the Hopkinsville Industrial Foundation, Inc., a non-profit
                organization, of record in Miscellaneous Book 3, Page 283, which
                was
                amended by Amendment to Deed of Dedication and Restrictions for the.
                Hopkinsville Industrial Park, dated November 20, 1981, of record
                in
                Miscellaneous Book 16, Page 143, and amended further by Amendment
                of
                Restrictions, dated December 14, 1989, of record in Miscellaneous
                Book 35,
                Page 84, all in Christian County,
                Kentucky.

            

    

     

    
      	
              5.

            	
              Terms
                and conditions of Memorandum of Lease, dated December 28, 1989, by
                and
                between Shannon Properties, Inc., a Delaware corporation ("Lessor"),
                and
                Dana Corporation, Parish Division, a Virginia corporation ("Lessee"),
                of
                record in Miscellaneous Book 35, Page 125, in Christian County,
                Kentucky.

            

    

     

    
      	
              6.

            	
              Right
                of Way Easement dated December 28, 1989, granted Pennyrile Rural
                Electric
                Cooperative Corporation of Hopkinsville, Kentucky, a Kentucky corporation,
                of record in Miscellaneous Book 36, Page 227, in Christian County,
                Kentucky.

            

    

     

    
      	
              7.

            	
              Conditions,
                stipulations, restrictions, building lines and easements, together
                with
                incidental rights, as set out in instrument of record in Deed Book
                530,
                Page 104, in Christian County,
                Kentucky.

            

    

     

    
      	
              8.

            	
              Certificate
                of Land Use Restrictions with the Louisville and Jefferson County
                Planning
                Commission of record in Deed Book 68, Page 168, in Christian County,
                Kentucky.

            

    

     

    
      	
              9.

            	
              Terms
                and conditions of Memorandum of Lease, dated June 30, 2005, by and
                between
                Lexington Hopkinsville Corp., a Delaware corporation ("Lessor") and
                Dana
                Corporation, a Virginia corporation ("Lessee"), of record in Miscellaneous
                Book 90, Page 425, in Christian County,
                Kentucky.

            

    

     

    
      	
              10.

            	
              Easement
                set forth in Deed of record in Deed Book 432, Page 406, in Christian
                County, Kentucky.

            

    

     

    
      	
              11.

            	
              Rights
                of others to use so much of subject property as lies within any publicly
                dedicated roadway or right-of-way.

            

    

     

    
      	
              12.

            	
              All
                coal, oil, gas and other mineral rights heretofore conveyed, excepted,
                reserved or leased, together with all incidental rights
                thereto.

            

    

     

    
      	
              13.

            	
              Mortgage,
                Assignment of Leases and Rents, Security Agreement and Fixture Filing
                to
                secure $15,001,124.00, up to a maximum of $30,002,248.00, in favor
                of
                COUNTRYWIDE COMMERCIAL REAL ESTATE FINANCE INC., a California corporation,
                dated August 31, 2005, and recorded in Mortgage Book 1006, Page 90,
                in
                Christian County, Kentucky.

            

    

     

    
      	
              14.

            	
              Assignment
                of Leases and Rents from in favor of COUNTRYWIDE COMMERCIAL REAL
                ESTATE
                FINANCE INC., a California corporation, dated August 31, 2005, and
                recorded in Mortgage Book 1006, Page 117, in Christian County,
                Kentucky.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              15.

            	
              Financing
                Statement (Fixture Filing) filed with COUNTRYWIDE COMMERCIAL REAL
                ESTATE
                FINANCE INC., a California corporation, as secured party, as shown
                of
                record in Mortgage Book 1006, Page 127, in Christian County,
                Kentucky.

            

    

     

    
      	
              16.

            	
              Subordination,
                Non-Disturbance and Attornment Agreement, dated August 31, 2005,
                by and
                among COUNTRYWIDE COMMERCIAL REAL ESTATE FINANCE INC., a California
                corporation (Lender), LEXINGTON HOPKINSVILLE CORP., a Delaware corporation
                (Landlord) and DANA CORPORATION, a Virginia corporation (Tenant),
                of
                record in Mortgage Book 1006, Page 135, in Christian County,
                Kentucky.

            

    

     

    

    Dana
      Corporation - 4010 Airpark Drive, Owensboro, Kentucky

           

    
      
        	
                1.

              	
                Lien
                  of 2007 real estate taxes not yet due and
                  payable.

              

      

    

    

    
      	
              2.

            	
              Conditions,
                stipulations, restrictions, building lines and easements, together
                with
                incidental rights, as provided for on the recorded Plat of record
                in Plat
                Book 26, Page 40, in the Office
                aforesaid.

            

    

    

    
      	
              3.

            	
              Easement
                granted City Utility Commission of the City of Owensboro, Kentucky,
                of
                record in Deed Book 684, Page 845, in the Office
                aforesaid.

            

    

    

    
      	
              4.

            	
              Memorandum
                of Ground Lease by and between Dana Commercial Credit Corporation,
                a
                Delaware corporation (lessor) and Lexington Owensboro Corp., a Delaware
                corporation (lessee), filed for record July 7, 2005 in Deed Book
                801, Page
                832, of the Daviess County Records.

            

    

    

    
      	
              5.

            	
              Memorandum
                of Lease by and between Lexington Owensboro Corp., a Delaware corporation
                (lessor) and Dana Corporation, a Virginia corporation (lessee), filed
                for
                record July 7, 2005 in Deed Book 801, Page 840, of the Daviess County
                Records.

            

    

    

    
      	
              6.

            	
              Amended
                and Restated Memorandum of Ground Lease by and between Dana Commercial
                Credit Corporation, a Delaware corporation (lessor) and Lexington
                Owensboro Corp., a Delaware corporation (lessee) filed for record
                September 2, 2005 in Deed Book 804, Page 823, of the Daviess County
                Records.

            

    

    

    
      	
              7.

            	
              Declaration
                of Covenants, Restrictions and Easements of the MidAmercia Airfare
                recorded in Deed Book 673, Page 360, in the office
                aforesaid.

            

    

    

    
      	
              8.

            	
              Deed
                of Avigation Easement and Airport Servitudes recorded in Deed Book
                651,
                Page 641, in the Office aforesaid.

            

    

    

    
      	
              9.

            	
              Leasehold
                Mortgage, Assignment of Leases and Rents, Security Agreement and
                Fixture
                Filing from Lexington Owensboro Corp., a Delaware corporation to
                Countrywide Commercial Real Estate Finance, Inc., in the maximum
                amount of
                $10,846,385.00, filed for record September 2, 2005 in Mortgage Book
                1451,
                Page 769, of the Daviess County
                Records.

            

    

    

    
      	
              10.

            	
              Assignment
                of leases and Rents from Lexington Owensboro Corp., a Delaware corporation
                to Countrywide Commercial Real Estate Financing, Inc., filed for
                record
                September 2, 2005 in Mortgage book 1451, page 797, of the Daviess
                County
                Records.

            

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              11.

            	
              Assignment
                of Leasehold Mortgage, Assignment of Leases and Rents, Security Agreement
                and Fixture Filing from Countrywide Commercial Real Estate Finance,
                Inc.
                to LaSalle Bank Notional Association, as trustee for the registered
                holders of ML-CFC Commercial Mortgage trust 2007-5, Commercial Mortgage
                Pass-Through Certificates, Series 2007-5, filed for record April
                9, 2007
                in Mortgage Book 1566, Page 945, of the Daviess County
                Records.

            

    

    

    
      	
              12.

            	
              Leasehold
                Mortgage, Assignment of Leases and Rents, Security Agreement and
                Fixture
                Filing from Lexington Owensboro Corp., a Delaware corporation to
                Countrywide Commercial Real Estate Finance, Inc., in the maximum
                amount of
                $10,846,385.00, filed for record September 2, 2005 in Mortgage Book
                1451,
                Page 806, of the Daviess County
                Records.

            

    

    

    
      	
              13.

            	
              Subordination,
                Non-Disturbance and Attornment Agreement by and between Countrywide
                Commercial Real Estate Financing, Inc., a Delaware Corporation (lender),
                Lexington Owensboro Corp., a Delaware corporation (landlord) and
                Dana
                Corporation, a Virginia corporation (tenant), filed for record September
                2, 2005 in Mortgage Book 1451, Page 832, of the Daviess County
                Records.

            

    

    

    
      	
              14.

            	
              Assignment
                of Leasehold Mortgage, Assignment of Leases and Rents, Security Agreement
                and Fixture Filing from Countrywide Commercial Real Estate Finance,
                Inc.
                to LaSalle Bank Notional Association, as trustee for the registered
                holders of ML-CFC Commercial Mortgage Trust 2007-5, Commercial Mortgage
                Pass-Through Certificates, Series 2007-5, filed for record April
                20, 2007
                in Mortgage Book 1569, Page 497, of the Daviess County
                Records.

            

    

    

    
      	
              15.

            	
              Financing
                Statement No. 15793 from Lexington Owensboro Corp. (debtor) to Countrywide
                Commercial Real Estate Finance, Inc. (secured party), filed for record
                September 6, 2005, in Fixture Filing Book 6, Page 534, of the Daviess
                County Records.

            

    

    

    
      	
              16.

            	
              Financing
                Statement Assignment from Countrywide Commercial Real Estate Finance,
                Inc.
                to LaSalle Bank National Association, as trustee for the Registered
                Holders of ML-CFC Commercial Mortgage Trust 2007-5, Commercial Mortgage
                Pass-Through Certificates, Series 2007-5, filed for record April
                9, 2007
                in Fixture Filing Book 7, Page 319, of the Daviess County
                Records.

            

    

    

     

    EDS
      Information Services, LLC (Electronic Data Systems Corporation) - 3600 Army
      Post
      Road, Des Moines, Iowa

     

    
      	
              1.  

            	
              All
                taxes not yet due and payable.

            

    

     

    
      	
              2.  

            	
              Declaration
                of Covenants and Restrictions filed of record June 11, 1997, in Book
                7654,
                page 147.

            

    

     

    Amended
      by First Amendment to Declaration of Covenants and Restrictions dated March
      30,
      2005, filed of record April 1, 2005, in Book 10999, Page 570-576.

     

    
      	
              3.  

            	
              Urban
                Renewal Development Agreement (Airport Business Park Urban Renewal
                Project) filed of record December 18, 1996, in Book 7544, page
                180.

            

    

     

    Terms
      and
      conditions of the Restated Urban Renewal Plan for the Airport Business Park
      Urban Renewal Project as contained within that certain Resolution Closing Public
      Hearing on the First Amendment to the Urban Renewal Plan for the Airport
      Business Park Urban Renewal Project and adopting same filed of record September
      28, 2001, in Book 9002, page 925, as Document No. 030155.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Terms
      and
      conditions of First Amendment to the Urban Renewal Development Agreement dated
      April 8, 2002, filed of record August 1, 2002, in Book 9255, page
      515.

     

    
      	
              4.  

            	
              Declaration
                of Covenants filed of record April 17, 1997, in Book 7613, page 810,
                and
                filed of record May 15, 1997, in Book 7634, page
                107.

            

    

     

    
      	
              5.  

            	
              Declaration
                of Covenants and Restrictions For Airport Business Park filed of
                record
                May 15, 1997, in Book 7634, page
                158.

            

    

     

    Amended
      by First Amendment to Declaration of Covenants and Restrictions for Airport
      Business Park dated January 24, 2002, filed of record March 13, 2002, in Book
      9104, page 714, as Document No. 089842.

     

    
      	
              6.  

            	
              Articles
                of Incorporation of Airport Business Park Owners' Association, Inc.,
                filed
                of record June 18, 1997, in Book 7658, page
                693.

            

    

     

    
      	
              7.  

            	
              Watermain
                Easement as shown on the Plat of Airport Business Park Plat No. 1
                and
                filed of record in Book 7634, page
                127.

            

    

     

    
      	
              8.  

            	
              Terms
                and conditions of a MidAmerican Energy Company Underground Electric
                Line
                Easement filed of record June 14, 2002, in Book 9183, page
                373.

            

    

     

    
      	
              9.  

            	
              Drainage
                and utility easements shown on the plat of Airport Business Park
                Plat 2
                filed of record November 6, 2002, in Book 9434, page
                630.

            

    

     

    
      	
              10.  

            	
              Terms
                and conditions of Permanent Easement For Storm Sewer Right of way
                dated
                October 18, 2002, filed of record November 6, 2002, in Book 9434,
                page
                669.

            

    

     

    
      	
              11.  

            	
              Terms
                and conditions of Supplemental Declaration of Covenants dated April
                8,
                2002, filed of record November 6, 2002, in Book 9434, page
                688.

            

    

     

    

    Georgia
      Power Company - 2500 Patrick Henry Parkway, McDonough,
      Georgia

     

    

    
      	
              1.

            	
              All
                taxes not yet due and payable.

            

    

     

    
      	
              2.

            	
              Right
                of Way Easement from C.W. Walker to Snapping Shoals Electric Membership
                Corporation, dated July 1, 1938, recorded September 21, 1939 in Deed
                Book
                31, Page 376, in the Office of the Clerk of the Superior Court, Henry
                County.

            

    

     

    
      	
              3.

            	
              Easement
                from C.W. Walker to Georgia Power Company, dated March 31, 1950,
                recorded
                April 29, 1950 in Deed Book 42, Page 502, in the Office of the Clerk
                of
                the Superior Court, Henry County.

            

    

     

    
      	
              4.

            	
              Easement
                from Claude Pittman to Georgia Power Company, dated March 8, 1954,
                recorded April 3, 1954 in Deed Book 49, Page 252, in the Office of
                the
                Clerk of the Superior Court, Henry
                County.

            

    

     

    
      	
              5.

            	
              Easement
                from Claude Pittman to Georgia Power Company, dated April 2, 1957,
                recorded April 27, 1957 in Deed Book 55, Page 550, in the Office
                of the
                Clerk of the Superior Court, Henry
                County.

            

    

     

    
      	
              6.

            	
              Easement
                from David H. Parker to Georgia Power Company, dated October 15,
                1959,
                recorded December 4, 1959 in Deed Book 62, Page 324, in the Office
                of the
                Clerk of the Superior Court, Henry
                County.

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              7.

            	
              Golf
                Play Easement from Killearn Properties, Inc. of Ga. to Killearn,
                Inc.,
                dated November 16, 1996, recorded December 19, 1996 in Deed Book
                2465,
                Page 262, in the Office of the Clerk of the Superior Court, Henry
                County.

            

    

     

    
      	
              8.

            	
              Terms
                and conditions Atlanta Tech Center Declaration of Covenants and
                Restrictions, dated March 3, 1999, recorded on March 2, 1999 in Deed
                Book
                3213, Page 251, in the Office of the Clerk of the Superior Court,
                Henry
                County.

            

    

     

    
      	
              9.

            	
              Terms
                and conditions of that Temporary Access Easement and Permanent Utility
                Easement Agreement from HP Venture III, LLC to Killearn Properties,
                Inc.
                of Ga., dated March 4, 1999, recorded March 11, 1999 in Deed Book
                3224,
                Page 209, in the Office of the Clerk of the Superior Court, Henry
                County.

            

    

     

    
      	
              10.

            	
              Terms
                and conditions of that Lease Agreement by and between HP Venture
                III, LLC
                and The Georgia Power Company, as evidenced for record by that Short
                Form
                Lease, dated February 19, 1999, recorded March 11, 1999 in Deed Book
                3224,
                Page 226, as assigned by Assignment and Assumption of Lease dated
                September 8, 2005, which was recorded as an amendment to that certain
                Special Warranty Deed recorded in Deed Book 8478, Page 124, in the
                Office
                of the Clerk of the Superior Court, Henry
                County.

            

    

     

    
      	
              11.

            	
              Temporary
                Construction Easement from HP Venture III, LLC to Henry County, Georgia,
                dated June 3, 2005, recorded June 22, 2005 in Deed Book 8213, Page
                196, in
                the Office of the Clerk of the Superior Court, Henry
                County.

            

    

     

    
      	
              12.

            	
              Deed
                to Secure Debt, Assignment of Leases and Rents and Security Agreement
                from
                Acquiport McDonough L.P. to Mortgage Electronic Registration Systems,
                Inc., as nominee for Bank of America, N.A. dated September 21, 2005,
                filed
                for record on September 29, 2005 at 12:52 pm in Deed Book 8517, Page
                173,
                in the Office of the Clerk of the Superior Court, Henry County,
                Georgia.

            

    

     

    
      	
              13.

            	
              UCC
                Financing Statement with Real Estate Addendum attached between Acquiport
                McDonough L.P. (Debtor) and Mortgage Electronic Registration Systems,
                Inc., (Secured Party) filed for record on September 29, 2005 at 12:52
                pm
                in Deed Book 8517, Page 207, in the Office of the Clerk of the Superior
                Court, Henry County, Georgia.

            

    

     

    
      	
              14.

            	
              Subordination,
                Non-Disturbance and Attornment Agreement between Georgia Power Company,
                Acquiport McDonough L.P. and Bank of America, N.A., dated September
                16,
                2005, filed for record September 29, 2005 at 12:52 pm in Deed Book
                8517,
                Page 198, in the Office of the Clerk of the Superior Court, Henry
                County.

            

    

     

     

    Honeywell,
      Inc. - 19019 N. 59th
      Avenue,
      Glendale, Arizona

     

    

    
      	
              1.  

            	
              Water
                Rights, claims or title to water, and agreements, covenants, conditions
                or
                rights incident thereto, whether or not shown by the public
                records.  (2)

            

    

    

    
      	
              2.  

            	
              Taxes
                which are not yet due nor payable.
                (3)

            

    

    

    
      	
              3.  

            	
              Easement
                and rights incident thereto as set forth in instrument recorded in
                Docket
                7123, Page 568.
(4)

            

    

    

    
      	
              4.  

            	
              Easement
                and rights incident thereto, as set forth in instrument recorded
                in
                Document No. 86-082375.
(5)

            

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
              5.  

            	
              Easement
                and rights incident thereto, as set forth in instrument recorded
                in
                Document No. 86-110548.
(6)

            

    

    

    
      	
              6.  

            	
              Easement
                and rights incident thereto, as set forth in instrument recorded
                in
                Document No. 86-110549.
(7)

            

    

    

    
      	
              7.  

            	
              Easement
                and rights incident thereto, as set forth in instrument recorded
                in
                Document No. 91-508123.
(8)

            

    

    

    
      	
              8.

            	
              Terms
                and conditions of Lease and Agreement between Glenarrow Associates
                Limited
                Partnership, an Arizona limited partnership, Landlord, and Sperry
                Corporation, a Delaware corporation, dated April 26, 1985 which interest
                was recorded on April 29, 1985 as Document No. 85-189421, as affected
                by
                Assignment of Lease between Sperry Corporation and SP-Space, Inc.,
                a
                Delaware corporation (now known as Honeywell, Inc.) via document
                recorded
                as Document Number 86-640656.
                (9)

            

    

     

    

    (i)Structure,
      LLC (Infocrossing, Inc.) - 11707 Miracle Hills Drive, Omaha,
      Nebraska

    
      
         

        
          	
                  1.

                	
                  
                    
                      All
                        taxes not yet due and
                        payable.(6)

                    

                  

                

        

         

      

      
        	
                2.

              	
                
                  Terms
                    and Provision set forth within the Memorandum of Lease dated
                    November 30,
                    2005 filed December 5, 2005 as instrument number 2005153093 of
                    the Records
                    of Douglas County, Nebraska, executed by and between LSAC Omaha
                    L.P., a
                    Delaware limited partnership ("Landlord"), and (i) Structure,
                    LLC, a
                    Delaware limited liability company, ("Tenant"), subject to those
                    certain
                    provisions set forth within the
                    Lease.(8)

                

              

      

       

    

    
      	
              3.

            	
              Deed
                of Trust, Security Agreement and Fixture Filing dated March 2, 2006,
                filed
                March 3, 2006 as instrument number 2006024080 of the Records of Douglas
                County, Nebraska, executed by LSAC Omaha L.P., a Delaware limited
                partnership to First American Title Insurance Company, as Trustee
                and
                LaSalle Bank National Association, a national banking association,
                Beneficiary, securing the principal sum of
                $9,000,000.00.

            

    

     

    (a)  Assigned
      to U.S. Bank, National Association, as Trustee for the Registered Holders of
      Merrill Lynch Mortgage Trust 2006-C1, Commercial Mortgage Pass-Through
      Certificates, Series 2006-C1, pursuant to the Assignment of Deed of Trust,
      Security Agreement and Fixture Filing filed July 3, 2006 as instrument number
      2006074607 of the Records of Douglas County, Nebraska.
(9)

     

    
      	
              4.

            	
              Assignment
                of Leases and Rents dated March 2, 2006 filed March 3, 2006 as instrument
                number 2006024081 of the Records of Douglas County, Nebraska, executed
                by
                and between LSAC Omaha, L.P., a Delaware limited partnership (“Borrower”)
                and LaSalle Bank National Association, as assignee
                (“Lender”).

            

    

     

    (a)  Assigned
      to U.S. Bank, National Association, as Trustee for the Registered Holders of
      Merrill Lynch Mortgage Trust 2006-C1, Commercial Mortgage Pass-Through
      Certificates, Series 2006-C1, pursuant to the Assignment of Deed of Trust,
      Security Agreement and Fixture Filing filed July 3, 2006 as instrument number
      2006074607 of the Records of Douglas County, Nebraska.
(10)

     

    
      	
              5.

            	
              Uniform
                Commercial Code- Financing Statement filed March 3, 2006 as instrument
                number 2006024082 of the Records of Douglas County, Nebraska, stating
                Debtor as:  LSAC Omaha, L.P. and Secured Party
                as:  LaSalle bank National Association, securing all collateral
                as set forth therein.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (a)  Assigned
      to U.S. Bank, National Association, as Trustee for the Registered Holders of
      Merrill Lynch Mortgage Trust 2006-C1, Commercial Mortgage Pass-Through
      Certificates, Series 2006-C1, pursuant to the Assignment of Deed of Trust,
      Security Agreement and Fixture Filing filed July 3, 2006 as instrument number
      2006074607 of the Records of Douglas County, Nebraska.
(11)

     

    
      	
              6.

            	
              Easements
                contained within the Dedication of the Plat of Miracle Hills Park
                an
                easements affecting subject property as shown thereon, filed November
                5,
                1984 in Book 1743 at Page 73 of the Deed Records of Douglas County,
                Nebraska.(13)

            

    

     

    
      	
               

            	
              (a)

            	
              Partial
                Release of Easement filed April 19, 1988 in Book 846 at Page 72 of
                the
                Records of Douglas County,
                Nebraska.

            

    

     

    
      	
              7.

            	
              Easements
                contained within the Dedication of the Plat or Miracle Hills Park
                Replat
                and easement affecting subject property as shown thereon, filed October
                28, 1987 in Book 1814 at Page 498 of the Deed Records of Douglas
                County,
                Nebraska.(14)

            

    

     

    
      	
               

            	
              (a)

            	
              Partial
                Release of Easement by Cox Cable Omaha Communications filed April
                19, 1988
                in Book 846 at Page 67, of the Records of Douglas County,
                Nebraska.

            

    

     

    
      	
               

            	
              (b)

            	
              Disclaimer
                and Release by Omaha Public Power District filed April 19, 1988 in
                Book
                846 at Page71 of the Records of Douglas County,
                Nebraska.

            

    

     

    
      	
              8.

            	
              Easement
                granted to Northwestern Bell Telephone Company by instrument filed
                October
                20, 1975 in Book 556 at Page 517 of the Miscellaneous Records of
                Douglas County,
                Nebraska.(15)

            

    

     

    
      	
              9.

            	
              Terms
                and conditions of the Development Agreement contained within Ordinance
                No.
                31328 filed September 25, 1987 in Book 827 at Page 446 of the
                Miscellaneous Records of Douglas County, •
                Nebraska.(16)

            

    

     

    
      	
              10.

            	
              Terms
                and condition of the Amendment to Easement Grant and Cross Easement
                dated
                April 4, 1988, filed April 4, 1988 in Book 844 at Page 350 of the
                Miscellaneous Records of Douglas County,
                Nebraska.(17)

            

    

     

    
      	
               

            	
              (a)

            	
              Second
                Amendment to Easement Grant and Cross Easement dated December 15,
                1989,
                filed December 18, 1989 in Book 908 at Page 150 of the Miscellaneous
                Records of Douglas County,
                Nebraska.

            

    

     

    
      	
              11.

            	
              Right
                of Way Easement granted to Omaha Public Power District by instrument
                filed
                August 16, 1988 in Book 858 at Page 719 of the Miscellaneous Records
                of
                Douglas County,
                Nebraska.(18)

            

    

     

     

    (i)Structure,
      LLC (Infocrossing, Inc.) - 2005 East Technology Circle, Tempe,
      Arizona

          

    
       

      
        	
                1.

              	
                UNRECORDED
                  GROUND LEASE under the terms and conditions contained therein made
                  by:

              

      

    

    

    
      	
               

            	
              Lessor:

            	
              THE
                ARIZONA BOARD OF REGENTS, acting for and on behalf of Arizona State
                University

            

    

    
      	
               

            	
              Lessee:

            	
              PRICE-ELLIOTT
                RESEARCH PARK, INC., an Arizona non-profit
                corporation

            

    

    
      	
               

            	
              Dated:

            	
              October
                8, 1984

            

    

    
      
        	
                 

              	
                Term:

              	
                99
                  years

              

      

      As disclosed
        by Memorandum of Lease

      
        
          	
                   

                	
                  Recorded: 

                	
                  July
                    29, 1987

                

        

        
          
            	
                     

                  	
                    Document
                      No.

                  	
                    87-479960

                  

          

           

        

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

    

    MEMORANDUM
      OF FIRST AMENDMENT recorded
      in Document No. 91-351641

    MEMORANDUM
      OF SECOND AMENDMENT recorded
      in Document No. 93-033412

    MEMORANDUM
      OF THIRD AMENDMENT recorded
      in Document No. 95-0802147

    FOURTH
      AMENDMENT TO GROUND LEASE
      recorded in Document No. 97-0913460

    MEMORANDUM
      OF FOURTH AMENDMENT recorded
      in Document No. 2002-0492441

    

    GROUND
      LESSOR ESTOPPEL CERTIFICATE FOR MASTER GROUND LEASE recorded in Document No.
      2006-0286407

    

    RECOGNITION,
      NONDISTURBANCE AND ATTORNMENT AGREEMENT recorded in Document No.
      2006-0794078

    

    THIRD
      AMENDED AND RESTATED RECOGNITION, NONDISTURBANCE AND ATTORNMENT AGREEMENT
      recorded in Document No. 2006-1374480

    

    MEMORANDUM
      OF SIXTH AMENDMENT recorded in Document No. 2006-1620928

    

    2.         UNRECORDED
      LEASE under the terms and conditions contained therein made by:

    

    Lessor:                           PRICE-ELLIOTT
      RESEARCH PARK, INC., an Arizona non-profit corporation

    Lessee:                           PKS
      INFORMATION SERVICES, INC., a Delaware corporation

    Dated:                            December
      17, 1997

    Term:                             through
      December 31, 2082

    As
      disclosed by MEMORANDUM OF LEASE

    Recorded:                      December
      18, 1997

    Document
      No.               97-0887395

    

    RECOGNITION,
      NONDISTURBANCE AND ATTORNMENT AGREEMENT recorded in Document No.
      97-0887396

    

    FIRST
      AMENDMENT TO RECOGNITION, NONDISTURBANCE AND ATTORNMENT AGREEMENT recorded
      in
      Document No. 2004-1511670

    

    

    3.      
        UNRECORDED SUBLEASE under the terms and conditions contained therein
      made by:

    

    Lessor:             LSAC
      TEMPE L.P., a Delaware limited partnership

    Lessee:             STRUCTURE,
      LLC, a Delaware limited liability company

    Dated:              December
      29, 2005

    Term:               20
      years with two additional 10 year renewal terms

    As
      disclosed by MEMORANDUM OF SUBLEASE

    Recorded         January
      4, 2006

    Document
      No. 2006-0007594

    

    ASSIGNMENT
      AND ASSUMPTION OF LEASE AGREEMENT between:

    Assignor:          STRUCTURE,
      L.L.C., a Delaware limited liability company

    Assignee:          LSAC
      TEMPE L.P., a Delaware limited partnership

    Recorded:         January
      4, 2006

    Document
      No.  2006-0007593

     

    RECOGNITION,
      NONDISTRUBANCE AND ATTORNMENT AGREEMENT recorded in Document No.
      2006-0007595

    SUBORDINATION,
      NON-DISTURBANCE AND ATTORNMENT AGREEMENT recorded in Document NO.
      2006-0286406

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      	
              4.

            	
              The
                liabilities obligations and burdens imposed upon said land by reason
                of
                inclusion within the Salt River Project Agricultural Improvement
                and Power
                District and Agricultural Improvement
                Districts.

            

    

    

    
      	
              5.

            	
              Taxes
                and Assessments collectible by the County Treasurer, a lien not yet
                due
                and payable for the year 2007.

            

    

    

    6.           City
      of Tempe Assessment No. 00004.0000, Series 158 (Paving, curb,
      gutter).

    7.           Agreement
      according to the terms and conditions contained therein:

    Purpose                                  Intergovernmental
      Agreement for External Improvements

    Dated                                  August
      10, 1984

    Recorded                                  September
      27, 1984

    Document
      No.                                  84-423568
      and 84-423569 Addendum No. 2 in Document No. 85-204803 Amendment No. 1 in
      Document No. 87-508933

    First
      Amendment in Document No. 00-0450811

    

    
      	
              8.

            	
              EASEMENTS,
                RESTRICTIONS, CONDITIONS AND COVENANTS, omitting, if any, from the
                above,
                any restrictions based on race, color, religion, sex, handicap, familial
                status or national origin as shown on the
                plat:

            

    

    

    
      	
               

            	
              Recorded
                in Book 275 of Maps

            

    

    
      	
               

            	
              Page
                26

            

    

    
      	
               

            	
              Abandonments
                recorded in Documents 98-0437595 and
                98-0437597

            

    

    

    9.           EASEMENT
      and rights incident thereto, as set forth in instrument:

    

    

    Recorded
      in Document
      No.                                                                98-0994803

    Purpose:                                                      underground
      water line and above ground fire hydrants

    

    

    

    

    

    10.           EASEMENT
      and rights incident thereto, as set forth in instrument:

    

    Recorded
      in Document
      No.                                                       98-0994804

    Purpose                                                       drainage
      and public utilities

    

    11.           AGREEMENT
      according to the terms and conditions contained therein:

    

    Purpose                                                                easement
      for underground nitrogen gas line

    Dated                                                                October
      30, 2001

    Recorded                                                      November
      13, 2001

    Document
      No.                                                                2001-1052610

    

    
      	
              12.

            	
              LEASEHOLD
                DEED OF TRUST given to secure the original amount shown below, and
                any
                other amount payable under the terms
                thereof:

            

    

    

    Amount                                  $8,500,000.00

    
      	
              Dated

            	
              March
                2, 2006

            

    

    
      	
              Recorded

            	
              March
                2, 2006

            

    

    
      	
              Document
                No.

            	
              2006-0286403

            

    

    Trustor                                  LSAC
      TEMPE L.P., A Delaware limited partnership

    
      	
               

            	
              Trustee

            	
              Lawrence
                C. Petrowski, Esq. a member of the bar of the State of
                Arizona

            

    

    
      	
              Beneficiary

            	
              LaSalle
                Bank National Association, a national banking
                association

            

    

    

    THE
      BENEFICIAL INTEREST under said Deed of Trust was assigned by
      instrument:

    

    Recorded                                July
      10, 2006

    Document
      No.                                2006-0915053

    
      	
               

            	
              Assignee

            	
              U.S.
                BANK, NATIONAL ASSOCIATION, AS TRUSTEE FOR THE REGISTERED HOLDERS
                OF
                MERRILL LYNCH MORTGAGE TRUST 2006-C1, COMMERCIAL MORTGAGE PASS-THROUGH
                CERTIFICATES, SERIES 2006-Cl

            

    

    

    13.           ASSIGNMENT
      OF LEASES AND RENTS executed:

    

    By                                LSAC
      TEMPE L.P., a Delaware limited partnership

    To                                LaSalle
      Bank National Association

    Dated                                March
      2, 2006

    Recorded                                March
      2, 2006

    Document
      No.                                2006-0286404

    

    And
      thereafter Assigned to U.S. BANK, NATIONAL ASSOCIATION, AS TRUSTEE FOR THE
      REGISTERED HOLDERS OF MERRILL LYNCH MORTGAGE TRUST 2006-Cl, COMMERCIAL MORTGAGE
      PASS-THROUGH CERTIFICATES, SERIES 2006-Cl

    By
      instrument
      recorded                                                      July
      10, 2006

    Document
      No.                                                      2006-0915053

     

    14.            FINANCING
      STATEMENT between:

    

    Debtor                                 LSAC
      TEMPE L.P.

    Secured
      Party                                 LaSalle
      Bank National Association

    Recorded                                 March
      2, 2006

    Document
      No.                                 2006-0286405

    

    

    

    

    

    

    

    And
      assigned by instrument:

    

    To
      U.S.
      BANK, NATIONAL ASSOCIATION, AS TRUSTEE FOR THE REGISTERED HOLDERS OF MERRILL
      LYNCH MORTGAGE TRUST 2006-C1, COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,
      SERIES 2006-Cl

    Recorded                                 July
      10, 2006

    Document
      No.                                 2006-0915054

    

    15.            EASEMENT
      and rights incident thereto, as set forth in instrument:

    

    Recorded
      in Document
      No.                                                        2005-0159868

    Purpose                                                        underground
      telecommunications

    

    
      	
              16.

            	
              MEMORANDUM
                OF PAYMENT OF REFUNDING BONDS recorded in Document No.
                2006-0669239.

            

    

    

    17.            EASEMENT
      and rights incident thereto, as set forth in instrument:

    

    Recorded
      in Document
      No.                                                        2007-0191951

    Purpose                                                        power
      distribution

    

    18.            EASEMENT
      and rights incident thereto, as set forth in instrument:

    

    Recorded
      in Document
      No.                                                       2007-0430205

    Purpose                                                       power
      distribution

    

     

    

     

    Ivensys
      Systems, Inc. (Siebe, Inc.) - 70 Mechanic Street, Foxboro,
      Massachusetts

     

    

     

    
      	
              1.  

            	
              All
                taxes not yet due and payable.
                (5)

            

    

     

    
      	
              2.  

            	
              Restrictive
                covenants set forth in deed recorded in Book 3938, Page 496.
                (6)

            

    

     

    
      	
              3.  

            	
              Natural
                flow of the brooks and the rights of others entitled thereto as shown
                on a
                Plan 44252. (13).

            

    

     

    
      	
              4.  

            	
              Order
                of Taking for Relocation of Mechanic Street, dated May 4, 1997 and
                filed
                as Document No. 368983
                (15).

            

    

     

    
      	
              5.  

            	
              Terms
                and provisions of a lease by and between State Street Bank and Trust
                Company of Connecticut, National Association, as Owner Trustee, as
                Lessor,
                and The Foxboro Company, as Lessee, a Memorandum of which is dated
                March
                15, 1994 and filed as Document No. 688480. (See also lessee’s name change
                from The Foxboro Company to INVENSYS SYSTEMS, INC. by virtue of the
                Articles of Amendment filed as Document No. 1019157)
                (18).

            

    

     

    

     

    

     

    Kelsey
      Hayes Company (TRW Automotive) - 1200 & 12025 Tech Center Drive, Livonia,
      Michigan

     

    

    
      	
              1.

            	
              Taxes
                for the year 2007 and subsequent years, which are a lien not yet
                due and
                payable. (2)

            

    

    

    2.           Lessee’s
      interest of Kelsey-Hayes Company, a Delaware corporation and the
      terms,conditions and provisions contained in the lease between Lexington Livonia
      L.L.C., aMichigan limited liability company, as lessor and Kelsey-Hayes Company,
      a Delaware corporation, as lessee.  Said lease being evidenced of
      record by the Memorandum of Lease recorded in Liber 42032, Page 1491. (As to
      Unit 1) (4)

    

    3.           Lessee’s
      interest of Kelsey-Hayes Company, a Delaware corporation and the
      terms,conditions and provisions contained in the lease between Lexington Livonia
      L.L.C., aMichigan limited liability company, as lessor and Kelsey-Hayes Company,
      a Delaware corporation, as lessee.  Said lease being evidenced or
      record by the Memorandum of Lease recorded in Liber 42032, Page 1483. (As Unit
      2) (5)

    

    4.           Declaration
      of Restrictions and the terms, conditions, and provisions therein, as recordedin
      Liber 29198, Page 902. (6)

    

    5.           Declaration
      of Easements and Restrictions and the terms, conditions, and provisionstherein,
      as recorded in Liber 22705, Page 122.  First Amendment to Declaration
      ofEasements and Restrictions recorded in Liber 23027, Page 296. (7)

    

    6.           Easement
      Agreement Relating to Driveway and the terms, conditions, and provisionstherein,
      as recorded in Liber 23794, Page 549. (8)

    

    7.           Assignment
      of Rights of Develop Under Master Deed and the terms, conditions, andprovisions
      therein, as recorded in Liber 29198, page 898. (9)

    

    8.           Easement
      to City of Livonia for water main recorded in Liber 29485, Page 936.
      (10)

    

    9.           Easement
      to The Detroit Edison Company for overhead and underground right of wayrecorded
      in Liber 23912, page 103. (11)

    

    10.           Rights
      of the co-owners of LIVONIA TECH CENTER CONDOMINIUM in commonelements as set
      forth in the Master Deed as amended and as described in Act 59 of thePublic
      Acts
      of 1978 as amended, and all the terms and conditions, regulations,restrictions,
      easements and other matters set forth in the above described Master Deed and
      Statutes. (14)

    

     

    

     

    Kelsey-Seybold
      Clinic (St. Lukes Episcopal Health System) - 11555 University Boulevard,
      Houston, Texas

     

    

    
      	
              1.

            	
              Restrictive
                Covenants recorded in/under Slide No. 20040188 of the Plat Records
                of Fort
                Bend County, Texas, Restrictions filed for record under County Clerk's
                File No. 1999102191 of the Official Records of Fort Bend County,
                Texas,
                Restrictions as set out in First Crossing Amended and Restated Protective
                Covenants, filed for record under County Clerk's File No. 2000093051
                and
                amended under Clerk's File No. 2001037637 of the Official Records
                of Real
                Property of Fort Bend County, Texas, Restrictions filed for record
                under
                County Clerk's File No. 2000093053 of the Official Records of Fort
                Bend
                County, Texas, but omitting any covenant or restriction based on
                race,
                color, religion, sex, handicap, familial status or national
                origin.

            

    

     

     

    
      	
              2.

            	
              Standby
                fees, taxes and assessments by any taxing authority not yet due and
                payable for the year 2007, and subsequent
                years.

            

    

     

     

    
      	
              3.

            	
              A
                water line easement located along the West property line, granted
                to the
                City of Sugar Land by Instrument, filed for record under County Clerk's
                File No. 2000101397 of the Official Records of Fort Bend County,
                Texas.

            

    

     

     

    
      	
              4.

            	
              An
                easement ten (10) feet in width along side and rear property lines
                for the
                use of public utilities as set out In instrument filed for record
                under
                County Clerk's File No. 2001037637 of the Official Records of Fort
                Bend
                County, Texas.

            

    

     

     

    
      	
              5.

            	
              Pipeline
                easement twenty (20) feet in width located along the East property
                line,
                granted to Houston Pipe Line Company by instrument recorded in Volume
                112,
                Page 485 of the Deed Records of Fort Bend County, Texas, and as amended
                by
                instrument filed for record under County Clerk's File No. 9881581
                of the
                Official Public Records of Real Property of Fort Bend County, Texas;
                and
                as re-defined by Restatement and Definition of Easement Grant by
                instrument filed for record under County Clerk's File No. 2000070959
                of
                the Official Public Records of Real Property of Fort Bend County,
                Texas.

            

    

     

     

    
      	
              6.

            	
              Reciprocal
                Access Easement twenty-five (25) feet in width and widening to thirty
                (30)
                feet, for a private, non-exclusive, perpetual, irrevocable easement
                and
                right-of-way for the purpose of vehicular and pedestrian ingress
                and
                egress, by instrument dated September 15, 2003 filed for record under
                County Clerk's File No. 2003138404 of the Official Public Records
                of Real
                Property of Fort Bend County,
                Texas.

            

    

     

     

    
      	
              7.

            	
              Private,
                non-exclusive, perpetual, irrevocable easement and right-of-way for
                Driveway, Landscape and Utility Easements, including but not limited
                to
                storm drainage by Agreement dated May 28, 2002 filed for record under
                County Clerk's File No. 2002056137 of the Official Records of Fort
                Bend
                County, Texas.

            

    

     

     

    
      	
              8.

            	
              Private,
                non-exclusive easements for ingress and egress by Agreement dated
                May 19,
                2003 by instrument filed for record under County Clerk's File No.
                2003068577 of the Official Records of Fort Bend County, Texas. (Partial
                Termination of Easement filed under Clerk's File No. 2004082788 of
                the
                Official Public Records of Real Property of Fort Bend County,
                Texas.

            

    

     

     

    
      	
              9.

            	
              Private
                Driveway and Utility Easement Agreement dated May 22, 2003 filed
                for
                record under County Clerk's File No. 2003068580 of the Official Records
                of
                Fort Bend County, Texas.

            

    

     

     

    
      	
              10.

            	
              Conveyance
                of an undivided one-half (1/2) of the rights, title and interest
                in and to
                the minerals in and under the subject property granted to The Texas
                Department of Criminal Justice by Mineral Deed filed for record under
                County Clerk's File No. 9776299 of the Official Records of Fort Bend
                County, Texas. Exclusive rights as to the surface retained by Texas
                Department of Transportation. Surface rights in connection with said
                interest waived as set forth in instrument filed for record under
                County
                Clerk's File No. 9826613, as amended under County Clerk's File No.
                9848662
                of the Official Records of Fort Bend County,
                Texas.

            

    

     

     

    
      	
              11.

            	
              All
                oil, gas and other minerals, the royalties, bonuses, rentals and
                all other
                rights in connection with same are excepted herefrom as set forth
                in
                instrument filed for record under County Clerk's File No. 9826613,
                as
                amended under County Clerk's File No. 9848662 of the Official Records
                of
                Fort Bend County, Texas. Waiver of surface rights contained therein.
                Title
                to said interest not checked subsequent to date of aforesaid
                instrument.

            

    

     

     

    
      	
              12.

            	
              Various
                building and parking set back lines, as set out in First Crossing
                Amended
                and Restated Protective Covenants, filed for record under County
                Clerk's
                File No. 2000093051 of the Official Records of Fort Bend County,
                Texas,
                to-wit:

            

    

     

     

    Forty
      (40) feet in width along University Boulevard;

     

     

    Twenty-five
      (25) feet in width along any private street;

     

     

    Fifteen
      (15) feet in width along any side property line not abutting a street (public
      or
      private);

     

     

    Ten
      (10)
      feet in width along any rear property line not abutting a street (public or
      private);

     

     

    Thirty
      (30) feet in width along any side or rear property line (for buildings whose
      use
      is intended for bulk storage of materials, goods, inventories, or similar
      items);

     

     

    Forty
      (40) feet in width along any street (for parking garage
      structures);

     

     

    Twenty-five
      (25) feet along property lines adjoining any public street
      (parking)

     

     

    Ten
      (10)
      feet along side or rear property lines not adjoining a public street
      (parking)

     

     

    
      	
              13.

            	
              Terms,
                conditions and provisions of that certain Cross Access Easement as
                to a
                private driveway for pedestrian and vehicular access, by and between
                First
                Crossing, Ltd., a Texas limited partnership and Wolff Family Foundation,
                a
                Texas non-profit corporation and Physician Property Investment II
                LP, a
                Texas limited partnership, by Access Easement Agreement dated September
                15, 2003 filed for record under County Clerk's File No. 2003138404
                of the
                Official Records of Fort Bend County, Texas. (TRACT
                II)

            

    

     

     

    
      	
              14.

            	
              Terms,
                conditions and provisions of that certain Cross Access Easement as
                to a
                private, non-exclusive, perpetual, irrevocable easement and right-of-way
                for driveway, landscaping and for various utility easements, by and
                between First Crossing, Ltd., a Texas limited partnership and Wolff
                Family
                Charitable Foundation, a Texas not-for-profit foundation and Texas
                State
                Bank, a Texas banking corporation, by Private Driveway and Utility
                Easement Agreement, dated May 28, 2002 filed for record under County
                Clerk's File No. 2002056137 of the Official Records of Fort Bend
                County,
                Texas. (TRACTS III and IV)

            

    

     

     

    
      	
              15.

            	
              Terms,
                conditions and provisions for use as private, non-exclusive, perpetual,
                irrevocable easement and right-of-way for driveway, landscaping and
                for
                various utility easements, by and between First Crossing, Ltd., a
                Texas
                limited partnership and Wolff Family Foundation, a Texas not-for-profit
                foundation and JPMorgan Chase Bank, a New York state banking corporation
                by Private Driveway and Utility Easement Agreement dated May 22,
                2003
                filed for record under County Clerk's File No. 2003068580 of the
                Official
                Records of Fort Bend County, Texas. (TRACT
                V)

            

    

     

     

    
      	
              16.

            	
              Provisions
                for Annual Maintenance Charge and Special Assessments as set out
                in First
                Crossing Amended and Restated Protective Covenants, filed for record
                under
                County Clerk's File No(s). 2000093051 of the Official Records of
                Fort Bend
                County, Texas, and additionally secured by a lien as set forth therein.
                This lien has been subordinated to all first lien deeds of trust
                and liens
                in favor of third party financial institutions or representing bona
                fide
                seller financing.

            

    

     

     

    
      	
              17.

            	
              The
                above property lies within the City of Sugar Land and is subject
                to the
                restrictions, zoning map and regulations imposed by Ordinances of
                the City
                of Sugar Land, including the designation of the area in which the
                property
                is located as the "Sugar Land Municipal Airport
                Zoning".

            

    

     

     

    
      	
              18.

            	
              Contract
                effective February 11, 2002 by and between First Crossing, Ltd. and
                Wolff
                Family Charitable Foundation and the City of Sugar Land, as disclosed
                by
                Memorandum of Notice of Contract dated March 11, 2002 filed for record
                under County Clerk's File No. 2002035082 of the Official Records
                of Fort
                Bend County, Texas.

            

    

     

     

    
      	
              19.

            	
              A
                utility easement by instrument filed for record under County Clerk's
                File
                No. 2001037637 of the Official Records of Fort Bend County, Texas.
                (Tract
                VI)

            

    

     

     

    
      	
              20.

            	
              A
                ten (10) foot easement for underground utility purposes reserved
                in Deed
                dated August 20, 2004, from First Crossing, Ltd., a Texas limited
                partnership and Wolff Family Foundation, a Texas not-for-profit
                foundation, to TDC KS, L.P., a Delaware limited partnership, filed
                for
                record on August 20, 2004, under Clerk's File No. 2004102811 of the
                Official Public Records of Real Property of Fort Bend County,
                Texas.

            

    

     

     

    
      	
              21.

            	
              A
                sanitary sewer easement fifteen (15) feet in width, located along
                the
                westerly line, granted to the City of Sugar Land by instrument dated
                January 4, 2002 filed for record under County Clerk's File No. 2002004533
                of the Official Records of Fort Bend County, Texas. (TRACT
                IV)

            

    

     

     

    
      	
              22.

            	
              An
                Access Easement twenty-five (25) feet in width as shown on plat thereof
                filed under Slide No. 20040188 of the Plat Records of Fort Bend County,
                Texas, and by instrument filed under County Clerk's File No. 2003138404
                of
                the Official Records of Fort Bend County,
                Texas.

            

    

     

     

    

     

    

     

    

     

    Litton
      Loan Servicing L.P. (Credit-Based Asset Servicing and Securitization LLC) -
      3500
      North Loop Court, McDonough, Georgia

     

    

     

    
      	
              1.  

            	
              All
                taxes not yet due and payable.
                (5)

            

    

     

    
      	
              2.  

            	
              Easements
                in favor of Southern Bell Telephone and Telegraph Company, as follow:
                (7)

            

    

     

    (a)            dated
      February 17, 1955, recorded in Deed Book 50, page 592(a); and

     

    
      	
               

            	
              (b)

            	
              dated
                February 18, 1955, recorded in Deed Book 50, page 592(b), aforesaid
                records.

            

    

     

    
      	
              3.  

            	
              Right
                of Way Easement in favor of Southern Bell Telephone and Telegraph
                Company,
                dated May 23, 1990, recorded in Deed Book 1183, page 163, aforesaid
                records. (8)

            

    

     

    
      	
              4.  

            	
              Declaration
                of Restrictive Covenants for Greenwood Industrial Park by Robert
                Pattillo
                Properties, Inc., dated July 14, 1998, filed July 13, 1998, recorded
                in
                Deed Book 2953, page 203, aforesaid records; as amended by Amendment
                dated
                April 29, 1999, filed May 12, 1999, recorded in Deed Book 3300, page
                293,
                aforesaid records.
                (9)

            

    

     

    
      	
              5.  

            	
              Declaration
                of Easements and Agreement for Common Area Maintenance for Greenwood
                Industrial Park by Robert Pattillo Properties, Inc., dated July 14,
                1998,
                filed July 13, 1998, recorded in Deed Book 2953, page 250, aforesaid
                records; as amended by Amendment dated April 29, 1999, filed May
                12, 1999,
                recorded in Deed Book 3300, page 298, aforesaid records.
                (10)

            

    

     

    
      	
              6.  

            	
              Easements
                as contained within Right of Way Deed in favor of Henry County, Georgia,
                dated January 22, 1999, recorded in Deed Book 3197, page 38, aforesaid
                records.  (11)

            

    

     

    
      	
              7.  

            	
              Rail
                Construction Easement Agreement by and between CS Integrated LLC
                and
                Robert Pattillo Properties, Inc., dated April X, 1999, filed May
                12, 1999,
                recorded in Deed Book 3300, page 328, aforesaid
                records.  (12)

            

    

     

    
      	
              8.  

            	
              Memorandum
                of Lease from CS Integrated, LLC to Atlas Cold Storage America, LLC,
                dated
                October 23, 2002, filed November 4, 2002, recorded in Deed Book 5414,
                page
                46, aforesaid records; as amended by First Amendment dated December
                20,
                2005, filed February 17, 2006, recorded in Deed Book 8949, page 185,
                aforesaid records; as affected by Subordination, Non-Disturbance
                and
                Attormnent Agreement among Capmark Bank f/k/a GMAC Commercial Mortgage
                Bank) NK-McDonough Property LLC and Atlas Cold Storage dated January
                30,
                2007, filed January 31, 2007, recorded in Deed Book 9946, page 245,
                aforesaid
                records.  (13)

            

    

     

    
      	
              9.  

            	
              All
                matters shown on recorded plat filed January 24, 2007, recorded in
                Plat
                Book 46, pages 226-230, aforesaid
                records.  (14)

            

    

     

    
      	
              10.  

            	
              The
                following as shown on ALTA/ACSM Land Title Survey dated August 18,
                2006
                for NK­McDonough Property, LLC, Capmark Finance, Inc., a California
                corporation, its successors and assigns, Capmark Bank, a Utah Industrial
                Bank, its successors and assigns, and Lawyers Title Insurance Corporation
                by Watts & Browning Engineers, Inc., V. T. Hammond, Georgia R.L.S. No.
                2554, last revised January 16,
                2007:  (15)

            

    

     

    
      	
              (a)  

            	
              building
                setback lines: 20 feet along northern and eastern boundaries and
                70 feet
                along southern and western boundaries of Tracts One A and One B of
                subject
                property;

            

    

     

    
      	
              (b)  

            	
              encroachment
                by approximately 12.5 feet of small brick building into building
                setback
                line at southwest corner of Tract One A of subject
                property;

            

    

     

    
      	
              (c)  

            	
              matters
                along 80 foot right of way of Greenwood Road and along variable right
                of
                way of Greenwood Industrial Parkway (Tracts One A and One B) as shown
                on
                the survey;

            

    

     

    
      	
              (d)  

            	
              drainage
                pipe and weir box (Deed Book 6995, page 198) located in northeast
                portion
                of Tract One B of subject property;

            

    

     

    
      	
              (e)  

            	
              spur
                track running across northern boundary line and along easterly boundary
                line of Tracts One A and One B of subject
                property;

            

    

     

    
      	
              (f)  

            	
              18
                inch reinforced concrete pipe located along southern boundary line
                of
                Tract Two of subject property;

            

    

     

    
      	
              (g)  

            	
              drainage
                pipes located in southwest portion of Tract One A and along southern
                boundary line of Tract Two of subject
                property;

            

    

     

    
      	
              (h)  

            	
              sanitary
                sewer line with manholes in southwest portion of Tract One A of subject
                property;

            

    

     

    
      	
              (i)  

            	
              asphalt
                drive over portion of southeast corner of Tract One A of subject
                property.

            

    

     

    

     

    

     

    Montgomery
      County Management, LLC - 17191 St. Lukes Way, Woodlands,
      Texas

     

    

    
      	
              1.

            	
              Restrictive
                Covenants recorded in/under Cabinet "T", Sheet 26 of the Map Records
                of
                Montgomery County, Texas, and those recorded in/under 9357930, 2002-115442
                and 2002-115443 of the Real Property Records of Montgomery County,
                Texas,
                but omitting any covenant or restriction based on race, color, religion,
                sex, handicap, familial status, or national
                origin.

            

    

     

    
      	
              2.

            	
              Standby
                fees, taxes and assessments by any taxing authority not yet due and
                payable for the year 2007, and subsequent
                years.

            

    

     

     

    
      	
              3.

            	
              Water
                line easements ten (10) feet in width located in the easterly portion
                of
                the subject property, as granted to The Woodlands Metro Center Municipal
                Utility District by instrument recorded under County Clerk's File
                No.
                2002-103606 of the Real Property Records of Montgomery County, Texas,
                and
                as located on the plat of The Woodlands,. COLLEGE PARK SECTION 9,
                recorded
                in Cabinet T, Sheet 26 of the Map Records of Montgomery County,
                Texas.

            

    

     

     

    
      	
              4.

            	
              Storm
                sewer easements twenty (20) feet in width as granted to The Woodlands
                Metro Center Municipal Utility District, as set forth and defined
                in
                instrument recorded under County Clerk's File No. 2002-103607 of
                the Real
                Property Records of Montgomery County, Texas, and as located on the
                Plat
                of The Woodlands, COLLEGE PARK SECTION 9, recorded in cabinet T,
                Sheet 26
                of the Map Records of Montgomery County,
                Texas.

            

    

     

     

    
      	
              5.

            	
              Sanitary
                sewer easement granted to The Woodlands Metro Center Municipal Utility
                District by instrument recorded under County Clerk's File No. 2002-115445
                of the Real Property Records of Montgomery County,
                Texas.

            

    

     

     

    
      	
              6.

            	
              Drainage
                Easement dated October 31, 2002 by and between College Park Partners,
                L.P.
                and The Woodlands Metro Center Municipal Utility District and recorded
                under County Clerk's File No. 2002-115446 of the Real Property Records
                of
                Montgomery County, Texas.

            

    

     

     

    
      	
              7.

            	
              Storm
                sewer easement thirty (30) feet in width as granted to The Woodlands
                Metro
                Center Municipal Utility District by instrument recorded under County
                Clerk's File No. 2002-115445 of the Real Property Records of Montgomery
                County, Texas.

            

    

     

     

    
      	
              8.

            	
              Sanitary
                sewer easement of varying width along the easterly line of the subject
                property as granted to The Woodlands Metro Center Municipal Utility
                District by instrument recorded under County Clerk's File No. 2002-103608
                of the Real Property Records of Montgomery County, Texas, and as
                located
                on the plat of The Woodlands, COLLEGE PARK SECTION 9, recorded in
                Cabinet
                "T", sheet 26 of the Map Records of Montgomery County, Texas; said
                easement rights having been subsequently assigned to San Jacinto
                River
                Authority by instrument recorded under Clerk's File No. 2003-056209
                of the
                Real Property Records of Montgomery County,
                Texas.

            

    

     

     

    
      	
              9.

            	
              Building
                line twenty (20) feet in width along the easterly property lines
                of the
                subject property, as imposed by the Map and Dedication recorded in
                Cabinet
                T, Sheet 26 of the Map Records of Montgomery County,
                Texas.

            

    

     

     

    
      	
              10.

            	
              Pathway
                easement thirty (30) feet in width adjacent to, parallel with and
                extending the full length of the eastern (St. Luke's Way) boundary
                lines
                of the property as imposed by instrument recorded under County Clerk's
                File No. 2002-115443 of the Real Property Records of Montgomery County,
                Texas.

            

    

     

     

    
      	
              11.

            	
              Forest
                preserve thirty (30) feet in width along the east (St. Luke's Way)
                boundary line of the property as imposed by instrument recorded under
                County Clerk's File No, 2002-115443 of the Real Property Records
                of
                Montgomery County, Texas.

            

    

     

     

    
      	
              12.

            	
              Water
                line easement ten (10) feet in width along the north property line,
                as
                granted to Montgomery County Municipal Utility District No. 39 by
                instrument recorded under County Clerk's File No. 9535063 of the
                Real
                Property Records of Montgomery County, Texas, said easement sights
                having
                been subsequently assigned to San Jacinto River Authority by instrument
                recorded under Clerk's File No. 2003-056210 of the Real Property
                Records
                of Montgomery County, Texas.

            

    

     

     

    
      	
              13.

            	
              Building
                line twenty-five (25) feet in width along the north property line
                of the
                subject property, as imposed by the Map and Dedication recorded in
                Cabinet
                T, Sheet 26 of the Map Records of Montgomery County,
                Texas.

            

    

     

     

    
      	
              14.

            	
              Pathway
                easement thirty (30) feet in width adjacent to, parallel with and
                extending the full length of the northern (State Highway 242) boundary
                line of the property as imposed by instrument recorded under County
                Clerk's File No. 2002-115443 of the Real Property Records of Montgomery
                County, Texas.

            

    

     

     

    
      	
              15.

            	
              Forest
                preserves fifty (50) feet in width along the north (State Highway
                242)
                boundary line of the property, as imposed by instrument recorded
                under
                County Clerk's File No. 2002-115443 of the Real Property Records
                of
                Montgomery County, Texas.

            

    

     

     

    
      	
              16.

            	
              Easement
                ten (10) feet in width along the front and rear property lines and
                five
                (5) feet in width along the side property lines of Restricted Reserve
                "A",
                as reserved for public utilities by instruments recorded under County
                Clerk's File Nos. 9357930 and 2002-115442 of the Real Property Records
                of
                Montgomery County, Texas.

            

    

     

     

    
      	
              17.

            	
              Easement
                for utility purposes ten (10) feet in width adjacent to, parallel
                with,
                and extending the full length of each of the boundary lines of Restricted
                Reserve "A", as reserved by instrument recorded under County Clerk's
                File
                No. 2002-115443 of the Real Property Records of Montgomery County,
                Texas.

            

    

     

     

    
      	
              18.

            	
              Drainage
                easement fifteen (15) feet in width on each side of the center line
                of all
                gullies, ravines and natural drainage courses on the herein described
                subject property as imposed by the Map and Dedication recorded in
                Cabinet
                T, Sheet 26 of the Map Records of Montgomery County, Texas. (This
                will not
                appear on the Mortgagee's Title
                Policy.)

            

    

     

     

    
      	
              19.

            	
              An
                undivided 114 of 112 of all the oil, gas and other minerals, the
                royalties, bonuses, rentals and all other rights in connection with
                same
                covering an undivided 50 acres, resulting in a 12.5 mineral acre
                interest,
                are excepted here from as the same are set out to O. G. Williams,
                L. G.
                Williams, Morris Cloninger, Bessie Ingram, Wilson P. Ingram and Estelle
                Ingram Peebles in instrument recorded in Volume 425, Page 141 of
                the Deed
                Records of Montgomery County, Texas. The above interest is affected
                by
                Designation of Drillsite Location, Grant of Access Easement and Waiver
                of
                Other Rights to Surface Usage dated November 10, 1999, recorded under
                County Clerk's File No. 2000-030142 of the Real Property Records
                of
                Montgomery County, Texas. Title to above said interests have not
                been
                investigated subsequent to the execution date of cited
                instruments.

            

    

     

     

    
      	
              20.

            	
              An
                undivided 3116 royalty interest in and to all the oil, gas and other
                minerals on, in, under or that may be produced from the subject property
                is excepted here from as the same are reserved by Bank of the Southwest
                National Association by instrument recorded under County Clerk's
                File No.
                8022244 of the Real Property Records of Montgomery County, Texas,
                Title to
                above said interests have not been investigated subsequent to the
                execution date of cited
                instruments.

            

    

     

     

    
      	
              21.

            	
              An
                undivided 314 royalty interest in and to all the oil, gas and other
                minerals on, in, under or that may be produced from the subject property
                is excepted here from as the same are reserved by Rollie Minnock
                Koehler
                by instrument recorded under County Clerk's File No. 2000-011213
                of the
                Real Property Records of Montgomery County, Texas. Title to above
                said
                interests have not been investigated subsequent to the execution
                date of
                cited instruments.

            

    

     

     

    
      	
              22.

            	
              All
                remaining oil, gas, and other minerals, the royalties, bonuses, rentals
                and all other rights in connection with same, all of which are expressly
                excepted here from as the same are reserved by The Woodlands Land
                Development Company, L.P., by instrument, recorded under County Clerk's
                File No. 2002-115443 of the Real Property Records of Montgomery County,
                Texas. Waiver or surface rights as set forth therein. Title to above
                said
                interests have not been investigated subsequent to the execution
                date of
                cited instruments.

            

    

     

     

    
      	
              23.

            	
              All
                subterranean waters including without limitation all percolating
                waters
                and underground reservoirs and all other rights in connection with
                same
                are expressly excepted here from and not insured hereunder as the
                same are
                reserved in Deed recorded under County Clerk's File No. 2002-115443
                of the
                Real Property Records of Montgomery County, Texas. Waiver of surface
                rights as set forth therein Title to above said interests have not
                been
                investigated subsequent to the execution date of cited
                instruments.

            

    

     

     

    
      	
              24.

            	
              Annual
                and Benefit Assessment and User Fees payable to Woodlands Commercial
                Owners Association as set forth in instruments recorded under County
                Clerk's File Nos. 9357930 and 2002-115442 of the Real Property Records
                of
                Montgomery County, Texas.

            

    

     

     

    
      	
              25.

            	
              Reciprocal
                Easement Agreement dated December 20, 2002, recorded under County
                Clerk's
                File No. 2002-1 3441 8 of the Real Property Records of Montgomery
                County,
                Texas, between College Park Partners, L.P. and Bank One National
                Association. First Amendment to Reciprocal Easement Agreement dated
                effective December 20, 2002, recorded under Clerk's File No. 2003-006247
                of the Real Property Records of Montgomery County, Texas, between
                College
                Park Partners, L.P. and Bank One National Association. Lienholder
                consent
                and subordination to Reciprocal Easement dated December 20, 2002,
                recorded
                under Clerk's File No. 2002-1 3441 9 of the Real Property Records
                of
                Montgomery County, Texas, executed by Woodforest National
                Bank.

            

    

     

     

    
      	
              26.

            	
              Acknowledgement,
                Assignment and Agreement with Regard to The Reciprocal Access Agreement
                dated January 6, 2003 recorded under County Clerk's File No. 2003-002046
                of the Real Property Records of Montgomery County, Texas, between
                College
                Park Partners, LP. and Whataburger,
                Inc.

            

    

     

     

    
      	
              27.

            	
              Acknowledgement,
                Assignment and Agreement with Regard to The Reciprocal Easement Agreement
                dated January 15, 2003. recorded under County Clerk's File No. 2003-006401
                of the Real Property Records of Montgomery County, Texas, between
                College
                Park Partners, L.P, and Luke 242,
                L.P.

            

    

     

     

    
      	
              28.

            	
              Acknowledgement,
                Assignment, and Agreement with Regard to The Reciprocal Access Agreement
                dated March 3, 2003, recorded under County Clerk's File No. 2003-023892
                of
                the Real Property Records of Montgomery County, Texas, between College
                Park Partners, L.P., and Texas Taco Cabana,
                L.P.

            

    

     

     

    
      	
              29.

            	
              Acknowledgement,
                Assignment and Agreement with Regard to The Reciprocal Access Agreement
                dated March 31, 2003, recorded under County Clerk's File No. 2003-037255
                of the Real Property Records of Montgomery County, Texas, between
                College
                Park Partners, L.P. and Taco Bell of America,
                Inc.

            

    

     

     

    
      	
              30.

            	
              Shared
                Reciprocal Easement Agreement dated January 6, 2003, recorded under
                County
                Clerk's File No. 2003-002044 of the Real Property Records of Montgomery
                County, Texas, between Whataburger, Inc., and College Park Partners,
                L.P.
                Assignment and Assumption Agreement dated March 3, 2003, recorded
                under
                Clerk's File No. 2003-023893 of the Real Property Records of Montgomery
                County, Texas, between Texas Taco Cabana, L.P. and College Park Partners,
                LP.

            

    

     

     

    
      	
              31.

            	
              West
                End Reciprocal Easement Agreement dated Match 31, 2003, recorded
                under
                County Clerk's File No. 2003-037256 of the Real Property Records
                of
                Montgomery County, Texas, between Taco Bell of America, Inc. and
                College
                Park Partners, L.P.

            

    

     

     

    
      	
              32.

            	
              Acknowledgement,
                Assignment and Agreement with Regard to The Reciprocal Easement Agreement
                dated July 30, 2003, recorded under County Clerk's File No. 2003-090117
                of
                the Real Property Records of Montgomery County, Texas, between College
                Park Partners, L.P. and Chang Seob Yoon and Joung Young
                Yoon.

            

    

     

     

    
      	
              33.

            	
              Acknowledgement,
                Assignment and Agreement with Regard to The Reciprocal Easement Agreement
                dated October 31, 2003, recorded under County Clerk's File No. 2003-137881
                of the Real Property Records of Montgomery County, Texas, between
                College
                Park Partners, LP. and AmREIT Monthly Income & Growth Fund
                Ltd.

            

    

     

     

    
      	
              34.

            	
              Assignment
                and Assumption of Lease, effective May 23, 2006, executed by and
                between
                St. Luke's - Sadler L.P., as Assignor, and LSAC Woodlands, L.P.,
                as
                Assignee and recorded under County Clerk's File No. 2006-056825 of
                the
                Real property records of Montgomery County,
                Texas.

            

    

     

     

    
      	
              35.

            	
              Assignment
                and Assumption of Appurtenances effective May 23, 2006, executed
                by and
                between St. Luke's - Sadler, L.P., as Assignor, and LSAC Woodlands,
                LP.,
                as Assignee, and recorded under County Clerk's File No. 2006-056826
                of the
                Real Property Records of Montgomery County,
                Texas.

            

    

     

     

    
      	
              36.

            	
              Deed
                of Trust executed by LSAC Woodlands L.P. to Jay C. Paxton, Trustee
                dated
                June 15, 2006, recorded in 2006-067371 of the Real Proeprty Records
                of
                Montgomery County, Texas, securing Mortgage Electronic Registration
                Systems, Inc., as Nominee for Bank of America in the payment of one
                note
                in the principal sum of $7,500,000 due and payable and bearing interest
                as
                therein provided and all the terms conditions and stipulations contained
                therein.

            

    

     

     

    37.           Financing
      Statement executed by LSAC Woodlands, L.P., Debtor, to Mortgage Electronic
      Registration System, Inc., as nominee for Bank of America, Secured Party, filed
      June 15, 2006, recorded in 2006-067372 of the Real Property Records of
      Montgomery County, Texas.

     

     

    
      	
              38.

            	
              Subordination,
                Non-disturbance and Attornment Agreement dated June 15, 2006, recorded
                in
                2006-068047 of the Real Property Records of Montgomery County,
                Texas

            

    

     

     

    

     

    

     

    

     

    Nextel
      of Texas - 1600 Eberhardt Road, Temple, Texas

     

    

    1.           Taxes
      for the year 2007 and subsequent years, which are a lien not yet due and
      payable.

    

    2.           A
      permanent easement to the City of Temple recorded in Volume 3210, Page
      220,Official Public Records of Real Property of Bell County, Texas, and as
      shown
      on plat inCabinet C, Slide 227-D, Plat Records of Bell County,
      Texas.  (c)

    

    3.           A
      twenty (20) foot Public Utility Easement (Cabinet C, Slide 130-C), along the
      east andwest property lines and a fifteen (15) foot Public Utility Easement
      (Cabinet C, Slide 130-C) along the south property line, as shown on plat in
      Cabinet C, Slide 227-D, Plat Records of Bell County,
      Texas.  (d)

    

    4.           A
      fifteen (15) foot drainage easement through Lot 1, as shown on plat in Cabinet
      C, Slide227-D, Plat Records of Bell County, Texas.  (e)

    

    5.           Grantor
      reserves to and for the benefit of Boles Home (formerly known as Boles
      OrphanHome, and sometimes known as Boles Home, Inc.) one-half (1/2) of all
      the
      oil, gas andother minerals, and all the rights incident thereto, as reserved
      in
      General Warranty Deed dated June 12, 1997, recorded in Volume 3631, Page 800,
      Official Public Records of Real Property of Bell County, Texas from Temple
      Independent School District to Temple Economic Development
      Corporation.  (f)

    

    6.           Easement
      dated December 27, 2000, recorded in Volume 4325, Page 501, Official
      PublicRecords of Real Property of Bell County, Texas, from NBS Temple, LLC,
      a
      Delawarelimited liability company to Texas Utilities
      Company.  (h)

    

    

    Nextel
      West Corporation - 6455 State Highway 303 N.E., Bremerton,
      Washington

     

    

     

    
      	
              1.  

            	
              ALL
                TAXES NOT YET DUE AND PAYABLE.

            

    

     

    
      	
              2.  

            	
              RELINQUISHMENT
                OF ALL EASEMENTS EXISTING, FUTURE OR POTENTIAL, FOR ACCESS, LIGHT,
                VIEW
                AND AIR, AND ALL RIGHTS OF INGRESS, EGRESS AND REGRESS TO, FROM AND
                BETWEEN THE LAND AND THE HIGHWAY OR HIGHWAYS TO BE CONSTRUCTED ON
                LAND
                CONVEYED BY DEED

            

    

    

    TO:                                           STATE
      OF WASHINGTON

    DATED:                                           FEBRUARY
      28, 1980

    RECORDED:                                           APRIL
      24, 1980

    RECORDING
      NO.:                                           8004240036

    

    SAID
      INSTRUMENT PROVIDES FOR "ACCESS ROAD APPROACH" AS SPECIFIED
      THEREIN.

    

    
      	
              3.  

            	
              EASEMENT
                AND THE TERMS AND CONDITIONS
                THEREOF:

            

    

    

    
      	
               

            	
              GRANTEE:

            	
              PUGET
                SOUND POWER & LIGHT COMPANY, A WASHINGTON/
                CORPORATION

            

    

    
      	
               

            	
              PURPOSE:

            	
              ELECTRIC
                TRANSMISSION AND/OR DISTRIBUTION
                LINES

            

    

    AREA
      AFFECTED:                                                      A
      PORTION OF SAID PREMISES

    RECORDED:                                                      DECEMBER
      28, 1993

    RECORDING
      NO.:                                                      9312280067

    

    
      	
              4.  

            	
              EASEMENT
                AND THE TERMS AND CONDITIONS
                THEREOF:

            

    

    

    
      	
               

            	
              GRANTEE:

            	
              PUGET
                SOUND POWER & LIGHT COMPANY, A WASHINGTON
                CORPORATION

            

    

    
      	
               

            	
              PURPOSE:

            	
              ELECTRIC
                TRANSMISSION AND/OR DISTRIBUTION
                LINES

            

    

    
      	
               

            	
              AREA
                AFFECTED:

            	
              A
                PORTION OF SAID PREMISES

            

    

    
      	
               

            	
              RECORDED:

            	
              FEBRUARY
                1, 2001

            

    

    
      	
               

            	
              RECORDING
                NO.:

            	
              200102010219
                BEING A RE-RECORDING OF RECORDING NO.
                3000818

            

    

    

    
      	
              5.  

            	
              ALL
                COVENANTS, CONDITIONS, RESTRICTIONS, RESERVATIONS, EASEMENTS OR OTHER
                SERVITUDES, IF ANY, DISCLOSED BY THE SHORT PLAT RECORDED UNDER RECORDING
                NO, 3224-478 AND 3224479.

            

    

     

    RIGHTS
      OR
      BENEFITS, IF ANY, WHICH MAY BE DISCLOSED BY THE RECORDED DOCUMENT(S) ABOVE
      AFFECTING LAND OUTSIDE THE BOUNDARY DESCRIBED IN SCHEDULE A.

    

    
      	
              6.  

            	
              WAIVER
                OF DAMAGES AS GRANTED TO KITSAP COUNTY BY DEED RECORDED UNDER RECORDING
                NO. 273016.

            

    

    

    
      	
              7.  

            	
              COVENANTS,
                CONDITIONS AND RESTRICTIONS IMPOSED BY INSTRUMENT RECORDED ON FEBRUARY
                1,
                2001, UNDER RECORDING NO. 200102010220, INCLUDING BUT NOT LIMITED
                TO
                RIGHTS OR BENEFITS WHICH MAY BE DISCLOSED AFFECTING LAND OUTSIDE
                THE
                BOUNDARY DESCRIBED IN SCHEDULE A.

            

    

    

    
      	
              8.  

            	
              AGREEMENT
                AND THE TERMS AND CONDITIONS
                THEREOF:

            

    

     

    RECORDED:                                           FEBRUARY
      1, 2002

    RECORDING
      NO.:                                           200102010224

    REGARDING:                                           MEMORANDUM
      OF AGREEMENT

    

    
      	
              9.  

            	
              AGREEMENT
                AND THE TERMS AND CONDITIONS
                THEREOF:

            

    

     

    RECORDED:                                           MARCH
      9, 2001

    RECORDING
      NO.:                                           200103090112

    
      	
               

            	
              REGARDING:

            	
              CONSENT
                OF USE OF PUGET SOUND ENERGY, INC., TRANSMISSION LINE
                RIGHT-OF-WAY

            

    

    

    
      	
              10.  

            	
              DECLARATION
                OF COVENANT ASSOCIATED WITH MAINTENANCE AND OPERATION OF STORM. DRAINAGE
                FACILITIES IMPOSED BY INSTRUMENT RECORDED ON MAY 24, 2001, UNDER
                RECORDING
                NO. 200105240028.

            

    

    

    
      	
              11.  

            	
              EASEMENT
                AND THE TERMS AND CONDITIONS
                THEREOF:

            

    

     

    PURPOSE:                                           SLOPE,
      GUARDRAIL AND RETAINING WALL

    AREA
      AFFECTED:                                           A
      PORTION OF SAID PREMISES

    RECORDING
      NO.                                           200107130270

    

    
      	
              12.  

            	
              EASEMENT
                AND THE TERMS AND CONDITIONS
                THEREOF:

            

    

     

    PURPOSE:                                           WATER
      SYSTEM

    AREA
      AFFECTED:                                           A
      PORTION OF SAID PREMISES

    RECORDING
      NO.                                           200108140457

    

     

    

     

    Northrop
      Grumman Systems Corp. - 3943 Denny Avenue, Pascagoula,
      Mississippi

     

    

     

    
      	
              1.

            	
              Add
                valorem taxes which are not yet due nor
                payable  (6)

            

    

    

    2.           Matters
      of survey based upon survey prepared by Compton Engineering, P.A. dated
      9/22/06.

    

    
      	
              3.

            	
              Drainage
                easement from Vulcan Investment Corp. in favor of State Highway Commission
                dated 4/7/1972 recorded in Deed Book 429 at page 123.
                (8)

            

    

    

    
      	
              4.

            	
              Easement
                from Vulcan Investment Corp., in favor of the City of Pascagoula
                dated
                4/2/69 recorded in Deed Book 353 at page
                216.  (9)

            

    

    

    
      	
              5.

            	
              Easement
                from Vulcan Investment Corp., in favor of Jackson County dated March
                1965
                recorded in Deed Book 272 at page 441, which allows for a ten foot
                easement for a sewer
                line.  (10)

            

    

    

    
      	
              6.

            	
              Temporary
                easement from Vulcan Investment Corp. in favor of the State Highway
                Commission dated 9/3/63 recorded in deed book 247 at page
                75.  (11)

            

    

    

    
      	
              7.

            	
              Driveway
                Permit dated 4/3/63 recorded in Deed Book 239 at Page
                75.  (12)

            

    

    

    
      	
              8.

            	
              Reciprocal
                Easements, Restrictions and Operations Agreement between Eagle Equity,
                Ltd., Partnership #2 and K-Mart Corporation dated 6/24/92 recorded
                in Deed
                Book 999 at page
                840.  (13)

            

    

    

    
      	
              9.

            	
              Subject
                to the terms and conditions of an unrecorded lease by and between
                Northrup
                Grumman Systems Corporation and LSAC Pascagoula
                LP.  (14)

            

    

    

     

    

     

    Omnipoint
      Holdings, Inc. (T-Mobile USA, Inc.) - 133 First Park Drive, Oakland,
      Maine

     

    

     

    
      	
               

            	
              1.

            	
              All
                taxes not yet due and
                payable.(4)

            

    

     

    
      	
               

            	
              2.

            	
              Title
                to and rights of the public and others entitled thereto in and to
                any
                portion of the insured premises located within the bounds of adjacent
                streets, roads and
                ways.(5)

            

    

     

    
      	
               

            	
              3.

            	
              Terms
                and conditions of Maine Department of Environmental Protection Site
                Location of Development Findings of Fact and Order,
                L-20267-39-A-N/L-20267-31-B-N, dated September 26, 2000 and recorded
                in
                Book 6314, Page 135; as affected by Modification Order, dated November
                12,
                2001 and recorded in Book 6713, Page 103; as affected by Modification
                Order dated June 17, 2003 and recorded in Book 7490, Page 207; as
                affected
                by Modification Order, dated December 22, 2004 and recorded in Book
                8265,
                Page 164.(8)

            

    

     

    
      	
               

            	
              4.

            	
              Terms
                and conditions of Kennebec Regional Development Authority Declaration
                of
                Covenants, Restrictions and Performance Standards dated November
                29, 2001
                and recorded in Book 6714, Page 79; as affected by First Amendment
                to
                Declaration of Covenants, Restrictions and Performance Standards,
                Kennebec
                Regional Development Authority, dated August 25, 2003 and recorded
                in Book
                7594, Page 298; as affected by Second Amendment to Declaration of
                Covenants, Restrictions and Performance Standards, Kennebec Regional
                Development Authority, dated December 17, 2004 and recorded in Book
                8246,
                Page 144.(9)

            

    

     

    
      	
               

            	
              5.

            	
              Reservation
                of rights and easements for detention ponds as set forth in deed
                to HP
                Maine, LLC, from Kennebec Regional Development Authority dated December
                27, 2004 and recorded in Book 8260, Page
                92.(10)

            

    

     

    
      	
               

            	
              6.

            	
              Terms
                and conditions of Easement Agreement between Kennebec Regional Development
                Authority and HP Maine, LLC, dated December 27, 2004 and recorded
                in Book
                8260, Page 96.(11)

            

    

     

    
      	
               

            	
              7.

            	
              Terms
                and conditions of Lease between HP Maine, LLC, Landlord, and Omnipoint
                Holdings, Inc., Tenant, as evidenced by a Memorandum of Lease,
                acknowledged December 22, 2004 and recorded in Book 8260, Page 165,
                as
                affected by Assignment and Assumption of Lease and Guaranty with
                Acquiport
                Oakland L.P. dated September 9, 2005 and recorded in Book 8593, Page
                161,
                as affected by Subordination Non Disturbance and Attornment Agreement,
                dated September 23, 2005 and recorded in Book 8623, Page
                173.(12)

            

    

     

    
      	
               

            	
              8.

            	
              Mortgage
                and Security Agreement from Acquiport Oakland L.P. to JP Morgan Chase
                Bank, N.A. dated September 23, 2005 and recorded in Book 8619, Page
                1, as
                assigned to Wells Fargo Bank, N.A. as Trustee for the Registered
                Holders
                of J.P. Morgan Chase Commercial Mortgage Securities Corp., Commercial
                Mortgage Pass-Through Certificates, Series 2005-CIBC13 by Assignment
                of
                Mortgage and Security Agreement dated November 29, 2005 and recorded
                in
                Book 8805, Page 178.

            

    

     

    
      	
               

            	
              9.

            	
              Assignment
                of Leases and Rents from Acquiport Oakland L.P. to JP Morgan Chase
                Bank,
                N.A. dated September 23, 2005 and recorded in Book 8619, Page 62,
                as
                assigned to Wells Fargo Bank, N.A. as Trustee for the Registered
                Holders
                of J.P. Morgan Chase Commercial Mortgage Securities Corp., Commercial
                Mortgage Pass-Through Certificates, Series 2005-CIBC13 by Assignment
                of
                Mortgage and Security Agreement dated November 29, 2005 and recorded
                in
                Book 8805, Page 178.

            

    

     

    

     

    

     

    Owens
      Corning - 590 Ecology Lane, Chester, South Carolina

     

    

    
      	
              1.

            	
              Taxes
                for the year 2007 and subsequent years, which are a lien not yet
                due and
                payable. (2)

            

    

    

    
      	
              2.

            	
              Utility
                lines, poles, wires, terminals, equipment, sewers, manholes, and
                all other
                equipment or related improvements shown on that plat prepared for
                Owens
                Corning, Lexington Chester Industrial, LLC, JPMorgan Chase Bank,
                N.A. and
                Fidelity National Title Insurance Company, prepared by Enfinger &
                Associates dated July 14, 2005 and revised July 26, 2005.
                (4)

            

    

    

    3.           Right-of-way
      easement to Duke Power Company dated March 31, 1971 andrecorded on April 2,
      1971
      in Book 451 at Page 342. (10)

    

    4.           Unrecorded
      lease from Lexington Chester Industrial, LLC to Owens Corning. (11)

    

    5.           Lease,
      with option to purchase, from Lexington Chester Industrial to Owens Corning
      as
      evidenced by that certain Memorandum of Lease dated January 11, 2000 and
      recorded on February 17, 2000 in Book 772 at Page 299 and as amended by that
      certain Amended Memorandum of Lease dated July 21, 2005 and recorded on August
      1, 2005 in Book 895 at Page 21. (12)

     

    

     

    Owens
      Corning - 1901 49th
      Avenue,
      Minneapolis, Minnesota

     

    

    1.           Real
      estate taxes for 2007 and subsequent years, not yet due and
      payable.

    

    2.           As
      to insured easement parcel:

    Easement
      for ingress, egress and
      utility purposes over Outlot A, Canadian PacificRailway 3rd Addition
      as
      contained in Access Road Easement dated October 16, 2002,filed of record
      February 6, 2003, as Document No. 7941825. (9)

    

    3.           As
      to insured easement parcel:

    Easement
      for ingress, egress and
      utility purposes over Outlot B, Mularke ParkAddition as contained in Access
      Easement dated October 16, 2002, filed of recordFebruary 6, 2003, as Document
      No. 7941826. (10)

    

    4.           As
      to insured easement parcel:

    Easement
      for ingress, egress and
      utility purposes over a part of Auditor’s Subdivision No.208 as contained in
      Access Easement dated October 16, 2002, filed of record February 6,2003, as
      Document No. 7941827. (11)

    

    5.           As
      to insured easement parcel:

    Easement
      for roadway purposes over part of Auditor’s Subdivision No. 208 as contained in
      Easement dated October 16, 2002, filed of record February 6, 2003, as Document
      No. 7941827. (12)

    

    6.           Humboldt
      Yard-47th Ave.
      Common Pond and Storm Water Easement and Agreement

    dated
      as of October 16, 2002, filed of
      record February 6, 2003, as Document No.

    7941827.
      (13)

    

    7.           Terms
      and conditions of Lease as evidenced by Memorandum of Lease dated July
      10,

    2002,
      filed of record February 6, 2003, as Document No. 7941827, by and between
      Lexington Minneapolis LLC (Lessor) and Owens Corning (Lessee). (14)

    

    

     

    

     

    Parkway
      Chevrolet, Inc. - 25500 SH 249, Tomball, Texas

     

    

    1.           Taxes
      for the year 2007 and subsequent years, which are a lien not yet due and
      payable.

    

    
      	
              2.

            	
              The
                following as dedicated and shown on map recorded under Film Code
                No.
                567073 of

            

    

    the
      Map
      Records of Harris County, Texas: (1) Sanitary sewer easement, being ten (10)
      feet in width located adjacent to the right of way of Boudreaux Road and (2)
      Building set back line, being twenty-five (25) feet in width adjacent to the
      right of way of State Highway 249 and adjacent to the right of way of Boudreaux
      Road. (a)

    

    3.           Terms,
      conditions, and stipulations contained in Storm Sewer Easement
      recordedunderHarris County Clerk’s File No. X603783 and as shown on map recorded
      under FilmCode No. 567073 of the Map Records of Harris County Texas.
      (b)

    

    4.           Terms,
      conditions, and stipulations contained in Water Line Easement recorded
      underHarris County Clerk’s File No. X603784 and as shown on map recorded under
      FilmCode No. 567073 of the Map Records of Harris County Texas. (c)

    

    5.           Easements
      granted to CenterPoint Energy Houston Electric, LLC as set forth ininstrument
      recorded under Harris County Clerk’s File No. X988694 of the Map Records
      ofHarris County Texas. (d)

    

    6.           Drainage
      easement fifteen (15) feet in width on each side of the center line of all
      naturaldrainage courses as reflected by map recorded under Film Code No. 567073
      of the MapRecords of Harris County, Texas. (e)

    

    7.           A
      1/96th non-participating royalty interest in all oil, gas and other minerals
      as
      set forth byinstrument recorded in Volume 3090, Page 691 of the Deed Records
      of
      Harris County,Texas. (f)

    

    8.           A
      1/96th non-participating royalty interest in all oil gas and other minerals
      as
      set forth byinstrument recorded in Volume 3090, Page 694 of the Deed Records
      of
      Harris County,Texas. (g)

    

    9.           A
      1/96th non-participating royalty interest in all oil, gas and other minerals
      as
      set forth byinstrument recorded in Volume 4140, Page 21 of the Deed Records
      of
      Harris County,Texas. (h)

    

    10.           A
      2/96th non-participating royalty interest in all oil, gas and other minerals
      as
      set forth byinstrument recorded in Volume 4140, Page 35 of the Deed Records
      of
      Harris County,Texas.  (i)

    

    11.           All
      oil, gas and other mineral rights as set forth by instruments recorded under
      HarrisCounty Clerk’s File Nos. F440295 and 0415077. Surface rights waived as set
      forth therein.(j)

    

    12.           Terms,
      conditions, and stipulations contained in Waiver Of Special Appraisal For
      TheBenefit of Harris County Municipal Utility District No. 368 recorded under
      HarrisCounty Clerk’s File Nos. W800403 and W800405. (k)

    

    13.           Memorandum
      of Lease made as of August 25, 2006, between LSAC TOMBALL L.P., aDelaware
      limited partnership (“Landlord”) and PARKWAY CHEVROLET, INC., aTexas
      corporation, (“Tenant”), as filed
      for record on August 29, 2006 and recorded under Harris County Clerk’s File No.
      20060006594. (l)

    

    14.           Subordination, Non-Disturbance
      and Attornment Agreement dated October 5, 2006 byand
      between, Bear Stearns Commercial Mortgage, Inc., (Lender), and Parkway
      Chevrolet,Inc. (Tenant) filed for record on October 18, 2006 under Harris County
      Clerk’s File No. 20060134557.  (m)

    

    15.           Deed
      of Trust executed by LSAC Tomball, L.P., to J. Michael Pruitt, Trustee,
      datedOctober 5, 2006, recorded in/under 20060109800 of the Real Property Records
      of HarrisCounty, Texas, securing Mortgage Electronic Registration Systems,
      Inc.,
      in the payment of one note in the principal sum of Nine Million Four Hundred
      Twenty Five Thousand and 00/100 ($9,425,000.00), due and payable and bearing
      interest as therein provided; and all the terms, conditions and stipulations
      contained therein, including, but not limited to, any additional indebtedness,
      if any, secured by said instrument. Additionally secured

    by
      Assignment of Leases and Rents dated October 5, 2006, recorded in/under
      20060109803 of the Real Property Records of Harris County, Texas.

    

    16.           UCC-1
      Financing Statement executed by LSAC Tomball, L.P., Debtor, to
      MortgageElectronic Registration Systems, Inc., as nominee for Bear Stearns
      CommercialMortgage, Inc., Secured Party, filed October 7, 2006, recorded
      in/under 20060107700 of the Real Property Records of Harris County,
      Texas.

    

    18.           Additionally
      secured by Subordination, Non-Disturbance and Attornment Agreementdated October
      5, 2006, recorded in/under 20060134557 of the Real Property Records ofHarris
      County, Texas.

    

     

    Seimens
      Dematic Postal Automation - 1404-1501 Nolan Ryan Parkway, Arlington,
      Texas

     

    1.           Standby
      fees, taxes and assessments by any taxing authority not yet due and payable
      for
      the year 2007, and subsequent years.

     

     

    
      	
              2.

            	
              The
                following, all according to plat recorded in Cabinet A, Slide 8673A,
                of
                the Plat Records of TARRANT County,
                Texas:

            

    

     

     

    Water
      line easement, Ten (10) feet by Twenty (20) feet in width along the West
      property line(s).

     

     

    Drainage
      easement, Twenty (20) feet in width along the running North to South acrross
      property. property line(s).

     

     

    Electric
      easement, Ten (10) feet in width along the North and East property
      line(s).

     

     

    Utility
      easement, Twenty (20) feet in width along the West property
      line(s).

     

     

    Sidewalk
      easement, Three and one-half (3.5) feet in width along the South property
      line(s).

     

     

    Gas
      easement, Ten (10) feet in width along the Easterly property
      line(s).

     

     

    Sanitary
      Sewer easement, Fifteen (15) feet in width along the Easterly property
      line(s).

     

     

    Water
      line easement, Twenty (20) feet by Ten (10) feet in the Southeast corner of
      subject property.

     

     

    
      	
              3.

            	
              Easement
                executed by TCDFW SDPA BTS, L.P., a Texas limited partnership, to
                Ballpark
                Real Estate, L.P., a Texas limited partnership, dated April 17, 2003,
                filed April 30, 2003, recorded in/under Volume 16648, Page 295 of
                the Real
                Property Records of TARRANT County,
                Texas.

            

    

     

     

    
      	
              4.

            	
              Terms,
                provisions and conditions of Lease Agreement by and between TCDFW
                SDPA
                BTS, L.P., a Texas limited partnership as Lessor and Siemens Dematic
                Postal Automation, L.P., a Delaware limited partnership as Lessee,
                dated
                April 25, 2003, filed April 30, 2003, recorded in/under Volume 16648,
                Page
                298 of the Real Property Records of TARRANT County,
                Texas.

            

    

     

     

    
      	
              5.

            	
              Terms,
                conditions and stipulations contained in Memorandum of Parking Agreement
                and Easement Agreement executed by and between Texas Rangers Baseball
                Partners, a Texas general partnership, and TCDFW SPDA BTS, L.P.,
                a Texas
                limited partnership and Siemens Dematic Postal Automation, L.P., a
                Delaware limited partnership, dated April 17, 2003, filed April 30,
                2003,
                recorded in/under Volume 16648, Page 292, and being corrected and
                refiled
                in Volume 16817, page 218 of the Real Property Records of TARRANT
                County,
                Texas.

            

    

     

     

    
      	
              6.

            	
              Terms,
                conditions and stipulations contained in Access Easement Agreement
                executed by and between Ballpark Real Estate, L.P., a Texas limited
                partnership, and TCDFW SDPA BTS, LP, a Texas limited partnership,
                dated
                September 16, 2003, filed September 26, 2003, recorded in/under Volume
                17245, Page 220 of the Real Property Records of TARRANT County,
                Texas.

            

    

     

     

    
      	
              7.

            	
              Terms,
                conditions and stipulations contained in Easement Agreement executed
                by
                and between Lexington Arlington, LP., a Delaware limited partnership,
                and
                TCDFW SDPA BTS, L.P., a Texas limited partnership, dated December
                ___,
                2003, filed December 30, 2003, recorded in/under County Clerk's No.
                D203473461 of the Real Property Records of TARRANT County,
                Texas.

            

    

     

     

    
      	
              8.

            	
              Easement
                executed by Siemens Dematic Postal Automatic, L.P., to City of Arlington,
                dated December 18, 2003, filed March 16, 2004, recorded in/under
                County
                Clerk's No. D204078666 of the Real Property Records of TARRANT County,
                Texas.

            

    

     

    

     

    Silver
      Spring Gardens, Inc. (Huntsinger Farms, Inc.) - 2424 Alpine Road, Eau Claire,
      Wisconsin

     

    
      	
              1.  

            	
              All
                taxes not yet due and payable.
                (8)

            

    

     

    
      	
              2.  

            	
              Memorandum
                of Lease dated April 1, 2007, recorded April 2, 2007 as Document
                #966748.
                (10)

            

    

     

    
      	
              3.  

            	
              Easement
                granted to Northern States Power Company dated January 16, 1996,
                recorded
                January 17, 1996 in Volume 964 of Records on Page 109 as Document
                #692627.
                (11)

            

    

     

    
      	
              4.  

            	
              Building
                setback lines 50, 25 and 10 foot widths as disclosed by Survey dated
                February 27, 2007 and revised survey dated March 28, 2007, prepared
                by
                Peter Gartmann S-2279 as CADD - /] No. 07014PLN.
                (12)

            

    

     

    

     

    

     

    SKF
      USA Inc. - 324 Industrial Park Road, Franklin, North
      Carolina

     

    

    
      	
              1.

            	
              Taxes
                for the year 2007, not yet due and payable, and subsequent
                years.

            

    

     

    
      	
              2.

            	
              Restrictions,
                reservation of easements and conditions contained in instrument recorded
                in Book P-21, Page 1187, Macon County Registry. This policy insures
                that
                the restrictions have not been violated and that a future violation
                thereof will not cause a forfeiture or reversion of title. NOTE:
                This
                exception omits any covenant, condition or restriction based on race,
                color, religion, sex, handicap, familial status or national origin
                as
                provided in 42 U.S.C. Sect. 3604, unless and only to the extent that
                the
                covenant (a) is not in violation of state or federal law, (b) is
                exempt
                under 42 U.S.C. Sect. 3607, or (c) relates to a handicap, but does
                not
                discriminate against handicapped
                people.

            

    

     

    
      	
              3.

            	
              Unrecorded
                Lease evidenced by Memorandum of Lease in favor of SKF USA Inc.,
                recorded
                in Book S-21, Page 1907, Macon County
                Registry

            

    

     

    
      	
              4.

            	
              Easement
                (s) in favor of Nantahala Power and Light Company recorded in Book
                E-23,
                Page 122; Book V-16, Page 209; Book T-10, Page 112; and Book E-23,
                Page
                122, Macon County Registry.

            

    

     

    
      	
              5.

            	
              Right
                of Way of State Road 1168 and to any portion of the same which lies
                within
                the bounds of the land.

            

    

     

    
      	
              6.

            	
              Easement
                (s) recorded in Book P-21, Page 1193-1195, Macon County
                Registry.

            

    

     

    
      	
              7.

            	
              Easement
                (s) recorded in Book P-21, Page 1196-1198, Macon County
                Registry.

            

    

     

    
      	
              8.

            	
              Easement
                (s) recorded in Book J-18, Page 436, Macon County
                Registry.

            

    

     

    
      	
              9.

            	
              Terms
                and Conditions of Deed recorded in Book A-19, Page 776-779, Macon
                County
                Registry.

            

    

     

    
      	
              10.

            	
              Right
                of Way recorded in Book K-11, Page 44; Book T-10, Page 162; Book
                T-10,
                Page 163; and Book L-18, Page 108, Macon County
                Registry.

            

    

     

    
      	
              11.

            	
              Easement
                for water lines recorded in Book N-17, Page 484, Macon County
                Registry.

            

    

     

    
      	
              12.

            	
              Right
                of Way for telephone and electric as recorded in Book M-17, Page
                373,
                Macon County Registry.

            

    

     

    

     

    

     

    Sygma
      Network, Inc. (Sysco Corporation) - 3600 Southgate Drive, Danville,
      Illinois

     

    

    
      	
              1.

            	
              General
                Real Estate Taxes for the year 2007, not yet due and payable.
                (1)

            

    

    

    2.           Assignment
      and Assumption of Lease and Guaranty
      dated December 21, 2000 andrecorded December 21, 2000 as
      Document No. 00-15501, made
      by and betweenGreenwalt L #1, LLC (Assignor) and
      Lexington Danville LLC
      (Assignee),assigning Lease between Assignor
      and The Sygma Network, Inc. (2)

    

    
      	
              3.

            	
              Easement
                dated July 2, 1969 and recorded July 22, 1969 in Book 781 page 421
                as
                Document No. 810856 to Illinois Power Company, its successors and
                assigns,
                to erect, reconstruct, operate and maintain an electric transmission
                line
                and appurtenances over the West 52 feet of the West Half of the Southwest
                Quarter EXCEPT the South 30 acres, in Section 18, Township 19 North,
                Range
                10 West of the 2nd P.M., situated in Vermilion County, Illinois.
                (Affects
                West 12 feet of premises in question as shown on Survey made by Lowell
                H.
                Loving, Illinois Professional Land Surveyor No. 1716, dated April
                10,
                2000). (7)

            

    

    

    4.           Utility
      easement of 20 feet over, upon and across the North, East, South and
      Westproperty lines as shown by Survey made by Lowell H. Loving, Illinois
      ProfessionalLand Surveyor No. 1716, dated December 13, 2000 and included in
      Trustee’s Deedrecorded May 4, 2000 as Document No. 00-4935. (8)

     

    5.           Easement
      of Illinois Power Company, an Illinois Corporation, its
      successors andassigns, for electrical transmission lines
      and appurtenances, as
      contained inElectric Easement made by Jeff Greenwalt,
      President and Thomas W. Fifer,Secretary of Sygma, dated August 17, 2000 and
      recorded August 28, 2000 as Document No. 00-10835 over, across, under and
      through a 15 foot strip, the centerline of which shall
      begin at an existing pole located approximately 280 feet
      East of the West boundary line
      and adjacent to the North
      boundary line of the premises
      described in Schedule A; thence South
      approximately 23 degrees East a distance of approximately
      230 feet to a point of ending at a
      pad mounted transformer. (9)

     

    
      	
              6.

            	
              Mutual
                Grant of Easements dated December 13, 2000 and recorded December
                13, 2000
                and recorded December 13, 2000 as Document No. 00-15216, made by
                Greenwalt
                L#1, LLC and the City of Danville, an Illinois Municipal Corporation,
                granting certain drainage and lift station
                connections. (10)

            

    

    

     

    

     

    Tenneco
      Automotive Operation Company (Tenneco Automotive Inc.) - 904 Industrial Road,
      Marshall, Michigan

     

    

    
      	
              1.

            	
              Taxes
                for the year 2007 and subsequent years, which are a lien not yet
                due and
                payable.

            

    

    

    2.           Easement
      granted to Consumers Energy Company recorded in Liber 1821, Page229.
      (6)

    

    3.           Easements
      and the terms, conditions and provisions thereof which are recited inEasement
      Agreement recorded in Liber 2836, Page 27. (7)

    

    4.           Easement
      to the City of Marshall recorded in Liber 1662, Page 300. (8)

    

    5.           Any
      provision contained in any instruments of record, which provisions pertain
      tothe
      transfer of divisions under Section 109(3) of the Subdivision Control Act
      of1967, as amended. (9)

    

    6.           Easement
      for electrical utility purposes vested in Eastern Michigan Power Companyby
      instrument recorded in Liber 260, Page 582. Subsequently conveyed toConsumers
      Power Company. (10)

    

    7.           Easements
      and the terms, conditions and provisions thereof which are recited ininstrument
      recorded in Liber 825, Page 484. (11)

    

    8.           Rights,
      if any, of the United States government, the State of Michigan, any
      othergovernmental entity, riparian owners, the public or private persons
      existing in orwith respect to the present and past bed, banks, bottomland and
      waters ofKalamazoo River. (12)

    

     

    

     

    TI
      Group Automotive Systems, LLC (TI Automotive LTD) - 359 Gateway Drive, Livonia,
      Georgia

     

    

    1.           All
      taxes for the year 2007 and subsequent years which are liens not yet due
      andpayable. (3)

    

    2.           All
      matters shown on recorded plat filed in Plat Book 27, page 645, Franklin
      County,Georgia records, and Plat Book 2-J, page 51, Hart County, Georgia
      records. (8)

    

    3.           Terms
      and conditions of Short Form Lease Agreement by and between the JointDevelopment
      Authority of Franklin, Hart and Stephens Counties and TC HartCounty, LLC
      (lessee), dated October 1, 2004, filed October 25, 2004, recorded inDeed Book
      730, page 136, Franklin County, Georgia records, and filed October 25, 2004,
      recorded in Deed Book 501, page 287, Hart County, Georgia records; as amended
      by
      Amendment to Short Form Lease Agreement dated November 19, 2004, filed November
      23, 2004, recorded in Deed Book 734, page 247, Franklin County, Georgia records,
      and filed November 23, 2004, recorded in Deed Book 504, page 122, Hart County,
      Georgia records; as affected by Assignment and Assumption of Lease Agreement
      (Bond Lease) by and between PE/TI Hart County, LLC successor by name change
      to
      TC Hart County, LLC (assignor) and Lexington Livonia TI L.P. (assignee), dated
      August 8, 2005, filed August 10, 2005, recorded in Deed Book 778, page 20,
      Franklin County, Georgia records, and filed August 10, 2005, recorded in Deed
      Book 528, page 488, Hart County, Georgia records; and Assignment and Assumption
      Agreement between PE/TI Hart County, LLC (formerly TC Hart County, LLC)
      (assignor) and Lexington Livonia TI L.P. (assignee), dated August I, 2005,
      filed
      August 11, 2005, recorded in Deed Book 779, page 28, Franklin County, Georgia
      records, and filed August 11, 2005, recorded in Deed Book 528, page 588, Hart
      County, Georgia records. (9)

     

    4.           Subordination,
      Non-Disturbance and Attornment Agreement by and betweenJPMorgan Chase Bank,
      N.A.
      and TI Group Automotive Systems, LLC, datedNovember 4, 2005, filed November
      8,
      2005, recorded in Deed Book 791, page 339,Franklin County records, and filed
      November 4, 2005, recorded in Deed Book 538, page 272, Hart County records.
      (10)

     

    5.           Deed
      to Secure Debt from Lexington Livonia TI L.P. (borrower) and JointDevelopment
      Authority of Franklin, Hart and Stephens Counties (ground lessor) toJPMorgan
      Chase Bank, N.A. (lender), dated November 4, 2005, filed November 8,2005,
      recorded in Deed Book 791, page 247, Franklin County records, and filed November
      14, 2005, recorded in Deed Book 538, page 180, Hart County records; in the
      amount of $10,100,000.00 due December 1, 2020.  As transferred to
      LaSalle Bank National Association, as Trustee for the Registered Holders of
      J.P.
      Morgan Chase Commercial Mortgage Securities Corp., Commercial Mortgage
      Pass-Through Certificates, Series 2006-CIBC15, by Assignment dated June 20,
      2006, filed August 2, 2006, recorded in Deed Book 834, page 222, Franklin County
      records, and filed August 2, 2006, recorded indeed Book 562, page 504, Hart
      County records.

     

    6.           Assignment
      of Leases and Rents from Lexington Livonia TI L.P. to JPMorgan ChaseBank, N.A.,
      dated November 4, 2005, filed November 8, 2005, recorded in DeedBook 791, page
      324, Franklin County records, and filed November 14, 2005,recorded in Deed
      Book
      538, page 257, Hart County records.  As transferred to LaSalle Bank
      National Association, as Trustee for the Registered Holders of J.P. Morgan
      Chase
      Commercial Mortgage Securities Corp., Commercial Mortgage Pass-Through
      Certificates, Series 2006-CIBC15, by Assignment dated June 20, 2006, filed
      August 2, 2006, recorded in Deed Book 834, page 225, Franklin County records,
      and filed August 2, 2006, recorded in Deed Book 562, page 509, Hart County
      records.

     

    
      	
              7.

            	
              UCC
                Financing Statement from Lexington Livonia TI L.P., as debtor, to
                JPMorgan
                Chase Bank, N.A., as secured party, filed November 8, 2005, recorded
                in
                Deed Book 791, page 351, Franklin County records, and filed November
                4,
                2005, recorded in Deed Book 538, page 284, Hart County records; assigned
                to LaSalle Bank National Association, as Trustee for the Registered
                Holders of J.P. Morgan Chase Commercial Mortgage Securities Corp.,
                Commercial Mortgage Pass-Through Certificates, Series 2006-CIBC15,
                by
                Assignment filed August 2, 2006, recorded in Deed Book 834, page
                228,
                Franklin County records, and filed August 2, 2006, recorded in Deed
                Book
                562, page 514, Hart County records.

            

    

    

     

    

     

    Time
      Customer Service, Inc. (Time, Inc.) - 10419 North 30th
      Street,
      Tampa, Florida

     

    
      	
              1.  

            	
              All
                taxes not yet due and
                payable.(2)

            

    

     

    
      	
              2.  

            	
              Easement
                in favor of Tampa Electric Company, dated April 3, 1986 and recorded
                in
                Records Book 4880, page 663.
                (6)

            

    

     

    
      	
              3.  

            	
              Ordinance
                No. 9693-A approved August 24, 1987, recorded in Records Book 5211,
                page
                1987 and amended by Ordinance No. 9724-A approved September 25, 1987
                recorded in Records Book 5237, page 1064.
                (7)

            

    

     

    
      	
              4.  

            	
              Agreement
                for Access and Utility Easement between Stroh Brewing Company and
                Opus
                South Corporation and dated September 18, 1987, recorded in Records
                Book
                5246, page 40. (8)

            

    

     

    
      	
              5.  

            	
              Notice
                of Modification to Adopted Development Order, recorded in Records
                Book
                6026, page 665, Records Book 7589, page 1955, and Records Book 8217,
                page
                168. (9)

            

    

     

    
      	
              6.  

            	
              Deed
                from Stroh Brewery Company to The Dyson Company and dated December
                18,
                1985, recorded in Record Book 4709, page 1432.
                (10)

            

    

     

    
      	
              7.  

            	
              Deed
                from Stroh Brewery Company to Opus South Corporation and dated February
                13, 1987, recorded in Record Book 5046, page 465.
                (10)

            

    

     

    
      	
              8.  

            	
              Special
                Warranty Deed from Opus South Corporation to North Tampa Associates
                and
                dated March 30, 1988, recorded in Record Book 5371, page 39.
                (11)

            

    

     

    
      	
              9.  

            	
              Memorandum
                of Purchase Agreement between North Tampa Associates and Opus South
                Corporation and dated March 30, 1988, recorded in Records Book 5371,
                page
                44, and amended by  the Partial Release and Amendment of
                Memorandum of Option between The Stroh Brewery Company and Opus South
                Corporation and dated October 27, 1988, recorded in Records Book
                5537,
                page
                1872.  (12)

            

    

     

    

     

    TRW,
      Inc. (Experian Information Solutions, Inc.) - 601 & 701 Experian Parkway,
      Allen, Texas

     

     

    1.           Restrictive
      Covenants recorded in/under Volume 1407, Page 363 of the Real Property Records
      of Collin County, Texas, but omitting any covenant or restriction based on
      race,
      color, religion, sex, handicap, familial status, or national
      origin.

     

     

    2.           Standby
      fees, taxes and assessments by any taxing authority not yet due and payable
      for
      the year 2007, and subsequent years.

     

     

    3.           Easements
      and Building Setback Lines all as shown on plat recorded in Volume C, Page
      567,
      of the Map Records of Collin County, Texas.

     

     

    4.           Easement
      executed by Exxon Corporation, to Texas Power & Light Company, dated October
      12, 1981, filed March 17, 1982, recorded in/under Volume 1490, Page 106 of
      the
      Real Property Records of Collin County, Texas.

     

     

    5.           Easement
      executed by InteCom, Inc., to City of Allen, dated September 30, 1983, filed
      September 30, 1983, recorded in/under Volume 1744, Page 832 of the Real Property
      Records of Collin County, Texas.

     

     

    6.           Terms,
      provisions and conditions of Lease Agreement by and between Allen Office
      Investment Limited Partnership, a Texas limited partnership as Lessor and TRW,
      Inc. as Lessee, as evidenced by Memorandum of Lease, dated April 15, 1993,
      filed
      April 15, 1993, recorded in/under County Clerk's File Number 93-0027861 of
      the
      Real Property Records of Collin County, Texas.

     

    7.           Assignment
      and Assumption of lessor's Interest in leases by and between Allen Office
      Investment Limited partnership, a Texas limited partnership and Wells Operating
      Partnership, L.P., a Delaware limited partnership, recorded in Volume 5172,
      page
      378 of the Real Property Records of Collin County, Texas.

     

     

    8.           Easement
      executed by Allen Office Investment Limited Partnership, a Texas limited
      partnership, to Texas Utilities, dated July 30, 1993, filed August 6, 1993,
      recorded in/under County Clerk's File Number 93-0064994 of the Real Property
      Records of Collin County, Texas.

     

     

    9.           Easement
      executed by Allen Office Investment Limited Partnership, a Texas limited
      partnership, to Texas Utilities, dated June 30, 1998, filed July 20, 1998,
      recorded in/under Volume 4211, Page 425 of the Real Property Records of Collin
      County, Texas.

     

     

    10.           Deed
      of Trust executed by Lexington Allen L.P. to David S. Hall, Trustee, Dated
      April
      13, 2005 filed April 19, 2005 recorded in Volume 5900, Page 2251 of the Real
      Property Records of Collin County, Texas, securing JP Morgan Chase Bank, N.A.
      in
      the payment of one note in the principal sum of $30,582,338 due and payable
      and
      bearing interest as therein provided; and all the terms, conditions and
      stipulations contained therein.

     

     

    11.           Said
      Note and Deed of trust having been assigned to LaSalle Bank National Association
      as Trustee for the Registered Holders of JP Morgan Chase Commercial Mortgage
      Securities Corp., Commercial Mortgage Pass-Through Certificates, Series
      2005-LDP5 by instrument dated December 28, 2005, filed March 2, 2006, recorded
      in County Clerk’s File Number 20060302000272720 of the Real Property Records of
      Collin County, Texas.

     

     

    12.           UCC-1
      Financing Statement executed by Lexington Allen L.P., Debtor, to JP Morgan
      Chase
      Bank, N.A., Secured Party, filed April 19, 2005, recorded in Volume 5900, Page
      2281 of the Real Property Records of Collin County, Texas.

     

     

    13.           Said
      Financing Statement being Assigned by document filed March 2, 2006, recorded
      in
      County Clerk’s File Number 20060302000272730 of the Real Property Records of
      Collin County, Texas.

     

    

     

    

     

    Unisource
      Worldwide, Inc. - 109 Stevens Street, Jacksonville,
      Florida

     

    

    
      	
              1.

            	
              All
                taxes not yet due and payable.

            

    

     

    
      	
              2.

            	
              Sanitary
                Sewer Easement between Unijax Realty Company and Winn-Dixie Stores,
                Inc.,
                dated August 4, 1975 and recorded August 5, 1975, in Official Records
                Book
                3978, Page 437.

            

    

     

    
      	
              3.

            	
              40
                foot Access Easement as recorded in Official Records Book 6555, Page
                858.

            

    

     

    
      	
              4.

            	
              Reciprocal
                Easement Agreement recorded in Official Records Book 12333, Page
                602.

            

    

     

    

     

    

     

    Voicestream
      PCS I (T-Mobile USA, Inc.) - 2999 S.W. 6th
      Street,
      Redmond, Oregon

     

     

    1.           Regulations,
      including levies, liens, assessments, water and irrigation rights and easements
      for ditches and canals of the Central Oregon Irrigation District.

     

     

    2.           Reservations,
      conditions and restrictions, as set forth in instrument

     

    Recorded:                                May
      9, 1980

    Document
      No.:                                321-381,
      Deed Records

    

    3.           The
      Right of First Refusal in the above document was terminated by Quitclaim
      Deed

    Recorded:                                May
      26, 1993

    Document
      No.:                                300-565,
      Official Records

    

     

    4.           Covenants,
      easements and restrictions, but omitting restrictions, if any, based on race,
      color, religion, national origin, or physical or mental handicap, imposed by
      instrument, including the terms and provisions thereof,

     

    Recorded:                                October
      21, 1997

    Document
      No.:                                466-1907,
      Official Records Amended by instrument,

    Recorded:                                October
      4, 2000

    Document
      No.:                                2000-40325,
      Official Records Amended by instrument,

    Recorded:                                December
      6, 2001

    Document
      No.:                                2001-59966,
      Official Records Amended by instrument,

    Recorded:                                September
      17, 2003

    Document
      No.:                                2003-64299,
      Official Records

    

     

    5.           Access,
      landscape, pathway and public utility easements as delineated on the recorded
      plat.

     

     

    6.           Note
      regarding access restrictions to Airport Way as delineated on the recorded
      plat.

     

     

    7.           Conveyance
      of landscape easement, including the terms and provisions thereof,

     

    Dated:                      September
      17, 2003

    Recorded:                                September
      19, 2003

    Document
      No.:                                2003-65016,
      Official Records

    

     

    8.           Conveyance
      of Access Easement, including the terms and provisions thereof,

     

    Dated:                      September
      17, 2003

    Recorded:                                September
      19, 2003

    Document
      No.:                                2003-65017,
      Official Records

    

     

    9.           Unrecorded
      lease, including the terms and provisions thereof,

     

    Dated:                      September
      15, 2003

    Lessor:                      HP
      Redmond, LLC, a Georgia limited liability company

    Lessee:                      Voicestream
      PCS I LLC, a Delaware limited liability company

    

    10.           Disclosed
      by
      :                                Memorandum
      of Lease

    Recorded:                                September
      19, 2003

    Document
      No.:                                2003-65021,
      Official Records

    

     

    Voicestream
      PCS II (T-Mobile USA, Inc.) - 9601 Renner Boulevard, Lenexa,
      Kansas

     

    

     

    
      	
              1.

            	
              All
                taxes not yet due and payable.
                (2)

            

    

     

    
      	
              2.

            	
              The
                premises in question lie within the boundaries of the LEC STORM DRAINAGE,
                LEC RENNER BLVD. and WASTEWATER, and is subject to assessments by
                reason
                thereof. (3)

            

    

     

    
      	
              3.

            	
              Building
                setback lines, easements and limitations of access as shown on the
                recorded plat. (4)

            

    

     

    
      	
              4.

            	
              Right
                of way granted to Cities Service Gas Company as set forth in the
                instrument recorded in Misc. Book 24, at Page 306, as partially released
                by the instrument recorded November 27, 1989, as Document No. 1911070,
                in
                Volume 3087, at Page 892, as affected by the instrument recorded
                September
                19, 2001, as Document No. 3300791, in Book 7287, at Page 777 and
                the
                instrument recorded October 29, 2001, as Document No. 3316963, in
                Book
                7364, at Page 590.
                (5)

            

    

     

    
      	
              5.

            	
              Easement
                granted to Kansas City Power & Light Company as set forth in the
                instrument recorded in Misc. Book 35, at Page 111, partially disclaimed
                by
                the instrument recorded December 10, 1986, as Document No. 1662469,
                in
                Volume 2477, at Page 338 and by the instrument recorded March 16,
                1989, as
                Document No. 1856235, in Volume 2954, at Page 116.
                (6)

            

    

     

    
      	
              6.

            	
              Pipeline
                right of way granted to Cities Service Gas Company as set forth in
                the
                instrument recorded as Document No. 478848, in Misc. Book 66, at
                Page 460,
                as partially released by the instrument recorded November 27, 1989,
                as
                Document No. 1911070, in Volume 3087, at Page 892, as affected by
                the
                instrument recorded September 19, 2001, as Document No. 3300791,
                in Book
                7287, at Page 777 and the instrument recorded October 29, 2001, as
                Document No. 3316963, in Book 7364, at Page 590.
                (7)

            

    

     

    
      	
              7.

            	
              Easement
                condemned by Kansas City Power & Light Company in Suit No. 64443, as
                set forth in the instrument recorded March 26, 1976, as Document
                No.
                1051560, in Volume 1100, at Page 811.
                (8)

            

    

     

    
      	
              8.

            	
              Easement
                for drainage condemned by the City of Lenexa in Suit No. 88C4749,
                as set
                forth in the instrument recorded May 11, 1988, as Document No. 1789607,
                in
                Volume 2788, at Page 386.
                (9)

            

    

     

    
      	
              9.

            	
              Drainage
                easement granted to the City of Lenexa as set forth in the instrument
                recorded May 20, 1988, as Document No. 1791837, in Volume 2793, at
                Page
                960. (10)

            

    

     

    
      	
              10.

            	
              Permanent
                Traffic Signal Easement granted to the City of Lenexa as set forth
                in the
                instrument recorded December 14, 2000, as Document No. 3188537, in
                Book
                6793, at Page 841.
                (11)

            

    

     

    
      	
              11.

            	
              Resolution
                No. 2001-80 for Renner Ridge street and storm water extension improvements
                as set forth in the instrument recorded July 10, 2001, as Document
                No.
                3268956, in Book 7150, at Page 489.
                (12)

            

    

     

    
      	
              12.

            	
              Permanent
                drainage easement granted to the City of Lenexa as set forth in the
                instrument recorded September 27, 2001, as Document No. 3304628,
                in Book
                7303, at Page 833.
                (13)

            

    

     

    
      	
              13.

            	
              Permanent
                landscape and public access easement granted to the City of Lenexa
                as set
                forth in the instrument recorded September 27, 2001, as Document
                No.
                3304631, in Book 7303, at Page 842.
                (14)

            

    

     

    
      	
              14.

            	
              Right
                of way granted to Consolidated Main Sewer District of Johnson County
                as
                set forth in the instrument recorded October 8, 2001, as Document
                No.
                3308565, in Book 7326, at Page 472.
                (15)

            

    

     

    
      	
              15.

            	
              Easement
                granted to Kansas City Power & Light Company as set forth in the
                instrument recorded April 8, 2002, as Document No. 3398914, in Book
                7753,
                at Page 361. (16)

            

    

     

    
      	
              16.

            	
              Easement
                granted to Kansas City Power & Light Company as set forth in the
                instrument recorded July 2, 2002, as Document No. 3437232, in Book
                7921,
                at Page 179. (17)

            

    

     

    
      	
              17.

            	
              Easement
                granted to Kansas City Power & Light Company as set forth in the
                instrument recorded July 19, 2004, as Document No. 20040719-0007715,
                in
                Book 200407, at Page 007715.
                (18)

            

    

     

    
      	
              18.

            	
              The
                obligations and limitations imposed by the holder of the dominant
                estate,
                by the document creating the easement estate, shown as Tract 2 in
                Schedule
                A hereof, recorded January 23, 2001, as Document No. 3198702, in
                Book
                6830, at Page 720.
                (19)

            

    

     

    
      	
              19.

            	
              Tenancy
                rights, either as month-to-month, or by virtue of written leases
                of any
                person (s) now in possession of any part of the premises in question.
                (20)

            

    

     

    

     

    

     

    Voicestream
      PCS II (T-Mobile USA, Inc.) - 3265 East Goldstone Drive, Meridian,
      Idaho

     

    
      	
              1.

            	
              Taxes,
                including any assessments collected therewith, for the year 2007
                which are
                a lien not yet due and payable.

            

    

    

    
      	
              2.

            	
              Terms
                and provisions contained in a City of Meridian Ordinance No. 01-920
                recorded July 26, 2001 as Instrument No. 101074954, records of Ada
                County,
                Idaho.

            

    

    

    
      	
              3.

            	
              Terms,
                provisions, conditions and restrictions contained in the Development
                Agreement by and between the City of Meridian and Sundance Investments
                Limited Partnership.

            

    

    
      	
               

            	
              Recorded:
                October 25, 2001

            

    

    
      	
               

            	
              Instrument
                No: 101111017

            

    

    

    
      	
               

            	
              First
                Addendum to Recitals, Definitions, Conditions, and Final Agreement
                of the
                Development Agreement.

            

    

    
      	
               

            	
              Recorded:
                July 12, 2002

            

    

    
      	
               

            	
              Instrument
                No: 102078394

            

    

    

    
      	
               

            	
              First
                Addendum to Development Agreement with Affidavit of
                Correctness

            

    

    
      	
               

            	
              Recorded:
                October 16, 2002

            

    

    
      	
               

            	
              Instrument
                No: 102119238

            

    

    

    
      	
              4.

            	
              An
                easement for the purpose shown below and rights incidental thereto
                as set
                forth in a Sanitary Sewer Easement.

            

    

    
      	
               

            	
              Granted
                to: City of Meridian, Ada County,
                Idaho

            

    

    
      	
               

            	
              Purpose:
                operation and maintenance of a sewer
                line

            

    

    
      	
               

            	
              Recorded:
                March 19, 2002

            

    

    
      	
               

            	
              Instrument
                No: 102032101

            

    

    

    
      	
               

            	
              Affidavit
                for Correction Sanitary Sewer
                Easement

            

    

    
      	
               

            	
              Recorded
                June 24, 2004

            

    

    
      	
               

            	
              Instrument
                No: 104079946

            

    

    

    
      	
              5.

            	
              An
                easement for the purpose shown below and rights incidental thereto
                as set
                forth in a Storm Water Drainage
                Easement.

            

    

    
      	
               

            	
              Granted
                to: Ada County Highway District, a body politic and corporate of
                the State
                of Idaho

            

    

    
      	
               

            	
              Purpose:
                Storm Water Drainage

            

    

    Recorded:
      March 21, 2002

    Instrument
      No: 102033296

    

    
      	
              6.

            	
              An
                easement for the purpose shown below and rights incidental thereto
                as set
                forth in a Public Right-of-Way Easement
                (Sidewalks).

            

    

    
      	
               

            	
              Granted
                to: Ada County Highway District, a body politic and corporate of
                the State
                of Idaho

            

    

    Purpose:
      Sidewalks

    Recorded:
      March 21, 2002

    Instrument
      No: 102033298

    

    
      	
              7.

            	
              An
                easement for the purpose shown below and rights incidental thereto
                as set
                forth in an Irrigation Easement.

            

    

    
      	
               

            	
              Granted
                to Silverstone Corporate Center
                Association

            

    

    
      	
               

            	
              Purpose:
                operation and maintenance of an irrigation
                system

            

    

    
      	
               

            	
              Recorded:
                April 25, 2002

            

    

    
      	
               

            	
              Instrument
                No: 102047751

            

    

    

    
      	
               

            	
              Amendment
                to Irrigation Easement.

            

    

    
      	
               

            	
              Recorded:
                December 15, 2003

            

    

    
      	
               

            	
              Instrument
                No: 103206039

            

    

    

    
      	
              8.

            	
              Easements,
                reservations, restrictions, and dedications as shown on the official
                plats
                of Silverstone Subdivision recorded April 30, 2002 as Instrument
                No.
                102121616, records of Ada County,
                Idaho.

            

    

    

    
      	
              9.

            	
              Covenants,
                Conditions and Restrictions and Easements but omitting any covenant
                or
                restriction based on race, color, religion, sex, handicap, familial
                status, or national origin, unless and only to the extent that said
                covenant (a) is exempt under Chapter 42, Section 3607 of the United
                States
                Code or (b) relates to handicap but does not discriminate against
                handicapped persons as set forth in the
                document.

            

    

    
      	
               

            	
              Recorded:
                April 23, 2003

            

    

    
      	
               

            	
              Instrument
                No: 103067489

            

    

    

    
      	
              10.

            	
              An
                easement for the purpose shown below and rights incidental thereto
                as set
                forth in a document.

            

    

    
      	
               

            	
              Granted
                to: Idaho Power Company

            

    

    
      	
               

            	
              Purpose:
                Public Utilities

            

    

    
      	
               

            	
              Recorded:
                March 11, 2004

            

    

    
      	
               

            	
              Instrument
                No: 104027252

            

    

    

    
      	
              11.

            	
              An
                unrecorded lease with certain terms, covenants, conditions, options,
                and
                provisions set forth therein:

            

    

    
      	
               

            	
              Lessor:
                HP Boise, LLC, a Georgia limited liability
                company

            

    

    
      	
               

            	
              Lessee:
                Voicestream PCS Holdings, LLC, a Delaware limited liability
                company

            

    

    
      	
               

            	
              Disclosed
                by: Memorandum of Lease

            

    

    
      	
               

            	
              Recorded:
                December 15, 2003

            

    

    
      	
               

            	
              Instrument
                No: 103206046

            

    

    

    
      	
              12.

            	
              Assignment
                and Assumption of Lease and
                Guaranty

            

    

    
      	
               

            	
              Assignor:
                HP Boise, LLC, a Georgia limited liability
                company

            

    

    
      	
               

            	
              Assignee:
                Acquiport Meridian LLC, a Delaware limited liability
                company

            

    

    
      	
               

            	
              Dated:
                July 28, 2004

            

    

    
      	
               

            	
              Recorded:
                July 28, 2004

            

    

    
      	
               

            	
              Instrument
                No: 104095962

            

    

    

     

    

     

    Voicestream
      PCS II (T-Mobile USA, Inc.) - 3711 San Gabrial, Mission,
      Texas

     

    

    
      	
              1.

            	
              Standby
                fees, taxes and assessments by any taxing authority for the year
                2007, and
                subsequent years.

            

    

    

    
      	
              2.

            	
              Easements,
                building setbacks and reservations as shown according to the map
                or plat
                thereof, recorded in Volume 44, Page 10, Map records Hidalgo County,
                Texas.

            

    

    

    
      	
              3.

            	
              Utility
                Easement and Right of Way dated August 23, 2002, granted to Sharyland
                Utilities, L.P. recorded under Clerk’s File No. 1115760, Official Records,
                Hidalgo County, Texas.

            

    

    

    
      	
              4.

            	
              Utility
                Easement and Right of Way dated August 23, 2002, granted to Sharyland
                Utilities, L.P. recorded under Clerk’s File No. 1115761, Official Records,
                Hidalgo County, Texas.

            

    

    

    
      	
              5.

            	
              Utility
                Easement dated March 21, 2003, granted to City of Mission recorded
                under
                Clerk’s File No, 1180516., Official Records, Hidalgo County,
                Texas.

            

    

    

    
      	
              6.

            	
              Right
                of Way Easement granted to Hidalgo County Water Control & Improvement
                District No. 19, recorded in Volume 938, Page 320, Deed Records,
                Hidalgo
                County, Texas.

            

    

    

    
      	
              7.

            	
              Easement
                in favor of United Irrigation Company recorded in Volume 655, Page
                358,
                Deed Records, Hidalgo County,
                Texas.

            

    

    

    
      	
              8.

            	
              Maintenance
                and/or special assessments payable to Plantation Village Commercial
                Property Owners Association, Inc., as set out in instrument recorded
                under
                Clerk’s File No. 841329, Official Records, Hidalgo County,
                Texas.

            

    

    

    
      	
              9.

            	
              Mineral
                reservations and/or conveyances as set forth by instrument recorded
                in
                Volume 955, Page 523, Deed Records, Hidalgo County, Texas; together
                with
                all rights incident to the owners and lessees of the
                minerals.  Title to said interest not checked subsequent to date
                of aforesaid instrument.

            

    

    

    
      	
              10.

            	
              Terms,
                provisions, and conditions of lease by and between Lexington Mission,
                L.P., as Lessor, and Voicestream PCS II Corporation, as Lessee, dated
                February 12, 2004, recorded under Clerk’s File No. 1297802, Official
                Public Records of Hidalgo County,
                Texas.

            

    

    

    
      	
              11.

            	
              Zoning
                and building ordinances in favor of the City of
                Mission.

            

    

    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.

     

    2.           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.

     

    3.           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.

     

    4.           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.

     

    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.

     

    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

    

    
      	
               

            	
              By:

            	
              _____________________________

            

    

    
      	
               

            	
              Name:

            

    

    
      	
               

            	
              Title:

            

    

    

     

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

    

    
      	
               

            	
              By:
                LMLP GP LLC, it general partner

            

    

    

    
      	
               

            	
              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 Purchase and Sale 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:                      ________________________

     

    Its:           ________________________

     

    

     

    By:           ________________________

     

    Name:                      ________________________

     

    Its:           ________________________

     

    

     

    ASSIGNEE:

     

    

     

    ______________________________

     

    

     

    

     

    By:           ________________________

     

    Name:                      ________________________

     

    Its:           ________________________

     

    

     

    

     

    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]ex10_6.htm

    
      

    

    Exhibit
      10.6    Employment Agreement
      of Richard Yee

    

    EMPLOYMENT
      AGREEMENT

    BETWEEN
      BLUEGATE CORPORATION AND

    RICHARD
      T. YEE

     

    This
      Employment agreement (the "Agreement") is made effective as of the 30th day
      of
      January 2006, by and between Bluegate Corporation, a Nevada corporation
      ("Bluegate"), and Richard T. Yee (the "Executive").

     

    WHEREAS,
      The Executive is willing to be employed by Bluegate from and after the effective
      date on the basis and terms and conditions set forth in this
      Agreement.

     

    THEREFORE,
      upon the mutual promises and covenants of the parties, and other good and
      valuable consideration, the receipt and sufficiency of which is hereby
      acknowledged, and intending to be legally bound, the parties agree as
      follows:

     

    1.         Employment.

     

    Bluegate
      hereby employs the Executive, and the Executive hereby accepts such employment,
      for the period stated in section (3) below and upon the other terms and
      conditions herein provided.

     

    2.         Position
      and
      Duties.

     

    During
      the Employment Period the Executive agrees to serve as Senior Vice President
–
Operations ("SVP-Ops") of Bluegate.  In his capacity of SVP-Ops, the
      Executive will perform such duties and responsibilities for Bluegate as may
      from
      time to time be assigned to him by the Board of Directors of Bluegate. The
      Executive shall have no responsibility for payroll nor for the filing of any
      payroll tax return, nor for payment of any tax of any kind that may be due
      or
      payable by Bluegate or any of its divisions.

     

    3.         Term.

     

    By
      this
      Agreement, Bluegate employs the Executive, and the Executive accepts employment
      with Bluegate, for a period consisting of two (2) years, commencing on the
      date
      of this Agreement.

     

    4.            
      Compensation.

     

    In
      consideration of such service, Bluegate agrees to pay the Executive as
      compensation an annual salary of $140,000.00, in accordance with Bluegate's
      regular payroll practices in effect from time to time. Effective on January
      1,
      2007, the annual salary will increase by 5.0%, to $147,000.00.

     

    Stock
      Options. In addition to the compensation set forth above, the Executive
      shall be entitled to receive options to purchase the following number of
      Bluegate shares of common stock, par value $.001 per share, ("Option Shares")
      pursuant to a Stock Option Agreement and at the option price set out
      below:

     

    
      	
              GRANT
                DATE

            	 	
              VESTING
                DATE

            	 	
               OPTION
                SHARES

            	 	
              OPTION
                PRICE

            
	
              January
                30, 2006

            	 	
              March
                1, 2006

            	 	
              50,000
                shares

            	 	
              $0.75

            
	
              January
                30, 2006

            	 	
              September
                1, 2006

            	 	
              46,600
                shares

            	 	
              $0.75

            
	
              January
                30, 2006

            	 	
              March
                1, 2007

            	 	
              225,000
                shares

            	 	
              $0.75

            
	
              January
                30, 2006

            	 	
              March
                1, 2008

            	 	
              225,000
                shares

            	 	
              $0.75

            

    

     

    The
      Option Shares to be issued pursuant to this Agreement shall be restricted
      securities with piggy back registration rights, and shall terminate and become
      null and void after the expiration of five (5) years from the date of
      grant.

     

    Bonus.
      In addition to the compensation set forth above, Executive and Bluegate agree
      to
      enter into good faith negotiations with a view to reaching an agreement on
      the
      payment of one or more bonuses (the "Bonuses") in such amounts as are mutually
      agreed upon by Executive and Bluegate, if major transactions (such as
      acquisitions and financings) agreed mutually upon by them shall be
      achieved.  The Bonuses shall be payable at such time as is mutually agreed
      upon by Executive and Bluegate. The Executive and Bluegate agree that they
      intend for these good faith negotiations (i.e., to mutually define the
      bonus-triggering transactions, milestones, and/or achievements, as well as
      the
      associated pay-out metrics) to be completed by no later than 30 days from start
      date.

     

    Relocation.
      Bluegate recognizes that the Executive will relocate his family/home to the
      metropolitan Houston, Texas area at some time in the future. The terms for
      reimbursing the Executive for the costs of this relocation will be set forth
      in
      an addendum to this Agreement.

     

    5.        (Intentionally
      Left
      Blank)

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    6.            Confidentiality. 

     

    In the course of
      the performance of Executive's duties hereunder, Executive recognizes and
      acknowledges that Executive may have access to certain confidential and
      proprietary information of Company or any of its affiliates. 
Without  the prior written consent of Company, Executive shall not 
disclose  any such confidential or proprietary information to any person or
      firm,  corporation,  association,  or  other 
entity  for  any reason or purpose whatsoever,  and 
shall  not  use  such information, directly or indirectly, for
      Executive's  own  behalf  or on behalf of any other party. 
Executive agrees and affirms that  all  such information is the sole
      property of Company and that at the  termination  and/or 
expiration  of  this  Agreement,  at Company's written
      request, Executive shall promptly return to Company any and all such information
      so  requested  by  Company.

    

                   
      The provisions of this Section shall not, however, prohibit Executive from
      disclosing  to others or using in any manner information
      that:   

    
      (a)           has been 
        published  or  has become part of the public domain other than by
        acts, omissions or fault of  Executive;

      (b)          
        has been furnished or made known to Executive by third parties (other than
        those
        acting directly or indirectly for or on behalf of Executive) as a matter
        of
        legal right without restriction on its use or disclosure;

      (c)           
        was in the possession of Executive prior to obtaining such information from
        Company in connection with the performance of this Agreement; or

      (d)           
        is required to be disclosed by law.

      
         

        7.            
          Indemnification.

         

      

    

    The
      Company shall to the full extent permitted by  law  or  as set
      forth in the Articles of Incorporation and the Bylaws of the Company, 
indemnify, defend and hold harmless Executive from and against any and all 
claims,  demands,  liabilities,  damages,  loses 
and  expenses  (including reasonable  attorney's 
fees,  court costs and disbursements) arising out of the performance 
by  him  of  his duties hereunder except in the case of his
      willful misconduct.

    

    8.        Termination. 

     

    This
      Agreement and the employment relationship created hereby will terminate (i)
      with
      cause under Section 8(a); or (ii) upon the voluntary termination of employment
      by Executive under Section8(b).

     

               
      (a)        With Cause.  The
      Company may terminate this Agreement at any time because of (i) the
      determination by the Board of Directors in the exercise of its reasonable
      judgment that Executive has committed an act or acts constituting a felony
      or
      other crime involving moral turpitude, dishonesty or theft or fraud; or (ii)
      Executive's willful misconduct  in the performance of his duties hereunder,
      provided, in each case, however, that the Company shall not terminate this
      Agreement pursuant to this Section unless the Company shall first have
      delivered  to  the Executive, a notice which specifically identifies
      such breach or misconduct and the executive shall not have cured the same within
      fifteen (15) days after receipt of such notice.

               
      (b)        Voluntary
      Termination.  The Executive may terminate his employment 
voluntarily.

    

    Obligations
      of Company Upon Termination.  In the event of the termination of
      Executive's employment pursuant to Section 8 (a) or (b), Executive will be
      entitled only to the compensation earned by him hereunder as of the date of
      such
      termination (plus any life insurance benefits).  In the event of the
      termination of Executive's employment for any reason other than Section 8 (a)
      or
      (b) as described immediately above, all compensation of every nature described
      in this Agreement shall immediately vest and become due and owing to
      Executive.

    

    In
      the
      event of the Death of the Executive prior to the end of the Term of this
      Agreement, Executive’s spouse shall be entitled to receive Compensation pursuant
      to this Agreement through the end of its Term as it accrues.

     

    9.           
      Waiver
      of
      Breach.

     

    The
      waiver by any party hereto of a breach of any provision  of this Agreement
      will not operate or be construed as a waiver of any subsequent breach by any
      party.

              

    10.          
      Arbitration. 

     

    If
      a
      dispute should arise regarding this Agreement the parties agree that all claims,
      disputes, controversies, differences or other matters in question arising out
      of
      this relationship shall be settled finally, completely and conclusively by
      arbitration in Houston, Texas in accordance with the Commercial Arbitration
      Rules of the American Arbitration Association (the "Rules").  The governing
      law of this Agreement shall be the substantive law of the State of Texas,
      without giving effect to conflict of laws.  A decision of the arbitrator
      shall be final, conclusive  and binding on the Company and
      Executive.

    

    11.       
       Covenant
      Not to Compete.

     

    So
      long
      as the Executive is employed by the Company and for a period of eighteen (18)
      months after either (i) the voluntary termination of employment by Executive
      or
      (ii) the termination of the Executive by the Company for cause, as set forth
      in
      Section 8(b) hereof, the Executive specifically agrees that he will not, for
      himself, on behalf of, or in conjunction with any person, firm, corporation
      or
      entity, other than the Company (either as principal, employee, shareholder,
      member, director, partner, consultant, owner or part-owner of any corporation,
      partnership or any type of business entity) anywhere in any county in which
      the
      Company is doing business at the time of termination, directly or indirectly,
      own, manage, operate, control, be employed by, participate in, or be connected
      in any manner with the ownership, management, operation, or control of any
      business similar to the type of business conducted by the Company at the time
      of
      termination of the Executive's employment.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Executive's
      Acknowledgments and Agreements.  The Executive acknowledges and agrees
      that:

    

    
      (1)                 Due
        to the nature of the Company's business, the foregoing covenants place no
        greater restraint upon the Executive than is reasonably necessary to protect
        the
        business and goodwill of the Company; 

      (2)                 These
        covenants protect a legitimate interest of the Company and do not serve solely
        to limit the Company's future competition;

      (3)                 This
        Agreement is not an invalid or unreasonable restraint of trade;

      (4)                 A
        breach of these covenants by the Executive would cause irreparable damage
        to the
        Company;

      (5)                 These
        covenants will not preclude the Executive from  becoming gainfully employed
        following termination of employment with the Company;

      (6)                 These
        covenants are reasonable in scope and are reasonably necessary to protect
        the
        Company's business and goodwill and valuable and extensive trade which the
        Company has established through its own expense and effort;

      (7)                 The
        signing of this Agreement is necessary for the Executive's employment;
        and 

      (8)                 He
        has carefully read and considered all provisions of this Agreement and that
        all
        of the restrictions set forth are fair and reasonable and are reasonably
        required for the protection of the interests of the Company.

       

    

    Remedies,
      Injunction.  In the event of the Executive's actual or threatened
      breach of any provisions of this Agreement, the Executive agrees that the
      Company shall be entitled to a temporary restraining order, preliminary
      injunction and/or permanent injunction restraining and enjoining the Executive
      from violating the provisions herein.  Nothing in this Agreement shall be
      construed to prohibit the Company from pursuing any other available remedies
      for
      such breach or threatened breach, including the recovery of damages from the
      Executive.  The Executive further agrees that for the purpose of any such
      injunction proceeding, it shall be presumed that the Company's legal remedies
      would be inadequate and that the Company would suffer irreparable harm as a
      result of the Executive's violation of the provisions of this Agreement. 
In any proceeding brought by the Company to enforce the provisions of this
      Agreement, no other matter relating to the terms of any claim or cause of action
      of the Executive against the Company will be defense thereto.  The
      foregoing remedy provisions are subject to the provisions of §15.51 of the Texas
      Business and Commerce Code, as amended (the "Code"), which Code provisions
      shall
      control in the event of any conflict between the provisions hereof and the
      Code
      or any other law in effect relevant and applicable hereto.

     

    12.           Benefits
      Insurance.

     

    (i)Medical,
      Dental and Vision Benefits.  During  this Agreement, Executive and
      his dependents will be entitled to receive such group medical, dental and vision
      benefits as Company may provide to its other executives, provided such coverage
      is reasonably available, or be reimbursed if Executive is  carrying his own
      similar insurance.

    

    (ii)Benefit 
      Plans.  The Executive will be entitled to participate in any 
benefit plan or program of the Company which may currently be in  place or
      implemented in the future.

    

    (iii)Other
      Benefits.  During the Term, Executive will be entitled to receive, in
      addition to and not in lieu of base salary, bonus or other  compensation,
      such other benefits and normal perquisites as Company currently provides or
      such
      additional benefits as  Company may provide for its  executive
      officers in the future.

     

    13.
                Vacation and Sick
      Leave.

     

    Vacation
      Pay. The Executive shall be entitled to an annual vacation leave of four (4)
      weeks at full pay.  Executive is specifically permitted to work from home
      or other remote location in his discretion, which time shall not be considered
      as vacation leave.

     

    Sick
      Pay. The Executive shall be entitled to sick leave as needed.

     

    14.          
      Reimbursement of Expenses.

     

    Upon
      submission of a detailed statement and reasonable documentation, Company will
      reimburse Executive in the same manner as other executive officers for all
      reasonable and necessary or appropriate out-of-pocket travel and other expenses
      incurred by Executive in rendering services required under this Agreement. 
Executive shall be entitled to a $750 per month car allowance and up to a $1,000
      per month discretionary expense account.

     

    15.
                Withholding of
      Taxes.

     

    Bluegate
      may withhold from any payments under this Agreement all applicable taxes, as
      shall be required pursuant to any law or governmental regulation or
      ruling.

     

    16.
                Entire
      Understanding.

     

    This
      Agreement sets forth the entire understanding between the parties with respect
      to the subject matter hereof and cancels and supersedes all prior oral and
      written agreements between the parties with respect to the subject matter
      hereof.

     

    17.
               
Severability.

     

    If
      for
      any reason any provision of this Agreement shall be held invalid, such
      invalidity shall not affect any other provision of this Agreement not held
      so
      invalid.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    18.          
      Governing Law.

     

    This
      Agreement has been executed and delivered in the State of Texas and its
      validity, interpretation, performance and enforcement shall be governed by
      and
      construed in accordance with the laws thereof applicable to contracts executed
      and to be wholly performed in Texas.

     

    19.
                Notices.

     

    All
      notices shall be in writing and shall have been duly given if delivered by
      hand
      or mailed, certified or registered mail, return receipt requested to the
      following address or to such other address as either party may designate by
      like
      notice:

     

    If
      to Executive:

     

    Richard
      T. Yee

    103
      Oakview Drive

    Cranberry
      Township, Pennsylvania 16066

     

    If
      to Bluegate:

     

    Bluegate
      Corp.

    Attn:
      Chairman of the Board of Directors

    701
      N.
      Post Oak Road, Suite 630

    Houston,
      Texas 77024

     

    Bluegate
      has caused this Agreement to be executed by its officer and the Executive has
      signed this Agreement.

     

    20.
                Successors, Binding
      Agreement.

     

    This
      Agreement is binding upon Bluegate’s successors.  Bluegate will require any
      successor (whether direct or indirect, by purchase, merger, consolidation,
      or
      otherwise) to all or substantially all of the business and/or assets of Bluegate
      to expressly assume and agree to perform this Agreement in the same manner
      and
      to the same extent that Bluegate would be required to perform it as if no such
      succession had taken place.  Failure of Bluegate to obtain such assumption
      and agreement prior to the effectiveness of any such succession shall constitute
      a breach of this Agreement.

     

    This
      Agreement shall inure to the benefit of both Bluegate and its successors and
      assigns and the Executive and his personal or legal representatives, executors,
      administrators, heirs, distributes, successors and assigns.

     

    
      	
              Bluegate:

            	 	
              Executive:

            	 
	
               

            	 	 	
               

            
	
              William
                E. Koehler

            	 	
              RICHARD
                T. YEE

            	 
	
              President
                and COO

            	 	 	 

    

     

    4

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