Document:

EX-10.30

 Exhibit 10.30 

AGREEMENT OF PURCHASE AND SALE 

By and Between 
 CRP
OAKMONT FLOWER MOUND, L.L.C., 
 a Delaware limited liability company, 

and 
 CRP OAKMONT GRAND
PRAIRIE, L.L.C., 
 a Delaware limited liability company, 

as Sellers 
 and

 IPT ACQUISITIONS LLC, 

a Delaware limited liability company, 

as Buyer 

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
	 ARTICLE 1 BASIC INFORMATION
	  	 	1	  
	 1.1 Certain Basic Terms
	  	 	1	  
	 1.2 Closing Costs
	  	 	3	  
	 1.3 Notice Addresses:
	  	 	4	  
		
	 ARTICLE 2 PURCHASE AND SALE
	  	 	4	  
		
	 ARTICLE 3 EARNEST MONEY
	  	 	5	  
	 3.1 Deposit of Earnest Money
	  	 	5	  
	 3.2 Form; Failure to Deposit
	  	 	5	  
	 3.3 Disposition of Earnest Money
	  	 	5	  
		
	 ARTICLE 4 DUE DILIGENCE
	  	 	6	  
	 4.1 Due Diligence Materials
	  	 	6	  
	 4.2 Physical Due Diligence
	  	 	6	  
	 4.3 Due Diligence/Termination Right
	  	 	7	  
	 4.4 Return of Documents and Reports
	  	 	7	  
	 4.5 Service Contracts
	  	 	7	  
	 4.6 Proprietary Information; Confidentiality
	  	 	7	  
	 4.7 No Representations or Warranties by Seller
	  	 	7	  
	 4.8 Buyer’s Responsibilities
	  	 	8	  
	 4.9 Buyer’s Agreement to Indemnify
	  	 	8	  
		
	 ARTICLE 5 TITLE AND SURVEY
	  	 	8	  
	 5.1 Title Commitment
	  	 	8	  
	 5.2 Survey
	  	 	8	  
	 5.3 Title Review
	  	 	9	  
	 5.4 Permitted Exceptions
	  	 	9	  
	 5.5 Delivery of Title Policy at Closing
	  	 	9	  
	 5.6 Additional Title Defects.
	  	 	10	  
		
	 ARTICLE 6 OPERATIONS AND RISK OF LOSS
	  	 	10	  
	 6.1 Ongoing Operations
	  	 	10	  
	 6.2 Damage
	  	 	11	  
	 6.3 Condemnation
	  	 	12	  
	 6.4 No Further Action Letter
	  	 	12	  
	 6.5 Estoppels
	  	 	13	  
		
	 ARTICLE 7 CLOSING
	  	 	13	  
	 7.1 Closing
	  	 	13	  
	 7.2 Conditions to Parties’ Obligation to Close
	  	 	13	  
	 7.3 Sellers’ Deliveries in Escrow
	  	 	14	  
	 7.4 Buyer’s Deliveries in Escrow
	  	 	15	  
	 7.5 Closing Statements
	  	 	16	  
	 7.6 Purchase Price
	  	 	16	  
	 7.7 Possession
	  	 	16	  
	 7.8 Delivery of Books and Records
	  	 	16	  

  
 (i) 

					
	 ARTICLE 8 PRORATIONS; DEPOSITS; COMMISSIONS
	  	 	16	  
	 8.1 Prorations
	  	 	16	  
	 8.2 Closing Costs
	  	 	17	  
	 8.3 Final Adjustment After Closing
	  	 	17	  
	 8.4 Security Deposit
	  	 	17	  
	 8.5 Commissions
	  	 	17	  
		
	 ARTICLE 9 REPRESENTATIONS AND WARRANTIES
	  	 	18	  
	 9.1 Sellers’ Representations and Warranties
	  	 	18	  
	 9.2 Buyer’s Representations and Warranties
	  	 	19	  
	 9.3 Survival of Representations and Warranties
	  	 	20	  
		
	 ARTICLE 10 DEFAULT AND REMEDIES
	  	 	20	  
	 10.1 Sellers’ Remedies
	  	 	20	  
	 10.2 Buyer’s Remedies
	  	 	20	  
	 10.3 Attorneys’ Fees
	  	 	21	  
	 10.4 Other Expenses
	  	 	21	  
		
	 ARTICLE 11 DISCLAIMERS; RELEASE
	  	 	22	  
	 11.1 Disclaimers By Seller
	  	 	22	  
	 11.2 Sale “As Is, Where Is.”
	  	 	22	  
	 11.3 Seller Released from Liability
	  	 	22	  
	 11.4 “Hazardous Materials” Defined
	  	 	23	  
	 11.5 Survival
	  	 	23	  
		
	 ARTICLE 12 MISCELLANEOUS
	  	 	23	  
	 12.1   Parties Bound; Assignment
	  	 	23	  
	 12.2   Headings
	  	 	24	  
	 12.3   Invalidity and Waiver
	  	 	24	  
	 12.4   Governing Law
	  	 	24	  
	 12.5   Survival
	  	 	24	  
	 12.6   Entirety and Amendments
	  	 	24	  
	 12.7   Time
	  	 	24	  
	 12.8   Confidentiality
	  	 	24	  
	 12.9   Notices
	  	 	24	  
	 12.10 Construction
	  	 	24	  
	 12.11 Calculation of Time Periods
	  	 	24	  
	 12.12 Execution in Counterparts
	  	 	25	  
	 12.13 No Recordation
	  	 	25	  
	 12.14 Further Assurances
	  	 	25	  
	 12.15 Discharge of Obligations
	  	 	25	  
	 12.16 No Third Party Beneficiary
	  	 	25	  
	 12.17 Information and Audit Cooperation.
	  	 	25	  
	 12.18 Multiple Properties
	  	 	25	  

  
 (ii) 

 AGREEMENT OF PURCHASE AND SALE 

This Agreement of Purchase and Sale (“Agreement”) is made and entered into by and between Buyer and Sellers. 

R E C I T A L S : 
 A.
Defined terms shall have the meaning set forth herein, whether or not such terms are used before or after the definitions are set forth. 

B. Buyer desires to purchase the Property and Sellers desire to sell their respective interests in and to the Property, all upon the terms and
conditions set forth in this Agreement. 
 NOW, THEREFORE, in consideration of the mutual terms, covenants and agreements set forth herein,
and the sums to be paid by Buyer, and for other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the parties agree as follows: 

ARTICLE 1 
 BASIC
INFORMATION 
 1.1 Certain Basic Terms. The following defined terms shall have the meanings set forth below: 

1.1.1 Sellers: CRP OAKMONT FLOWER MOUND, L.L.C., a Delaware limited liability company, and CRP OAKMONT GRAND PRAIRIE, L.L.C., a
Delaware limited liability company. 
 1.1.2 Buyer: IPT ACQUISITIONS LLC, a Delaware limited liability company. 

1.1.3 Purchase Price: $74,643,309.00. The Purchase Price may be allocated by Buyer among the individual parcels of the Land
(hereinafter defined) pursuant to written notice given by Buyer to Sellers on or before three (3) business days prior to the expiration of the Inspection Period, provided such allocation shall be subject to Sellers’ approval, not to be
unreasonably withheld, conditioned or delayed, and which approval shall be deemed given in the event Sellers fail to respond within two (2) business days following receipt of such notice from Buyer. 

1.1.4 Earnest Money: $2,000,000.00 to be deposited in accordance with Section 3.1, together with all interest earned
thereon while held by Escrow Agent. 
 1.1.5 Non-Refundable Earnest Money: $250,000.00 of the Earnest Money. 

 

			
	 1.1.6 Title Company:
	 	First American Title Insurance Company
		 	c/o Terra Nova Title & Settlement Services
		 	1725 DeSales Street, NW, Suite 401
		 	Washington, DC 20036
		 	Attention: Chris Critcher
		 	Facsimile: 202-331-0905
		 	Email: ccritcher@tnovatitle.com

  
 -1- 

			
	 1.1.7 Escrow Agent:
	 	Terra Nova Title & Settlement Services
		 	1725 DeSales Street, NW, Suite 401
		 	Washington, DC 20036
		 	
		 	 Attention: Chris Critcher

		 	 Facsimile: 202-331-0905

		 	 Email: ccritcher@tnovatitle.com

		 	

  

			
	 1.1.8 Broker:
	 	CBRE, Inc.
		 	2100 McKinney Avenue, Suite 700
		 	Dallas, Texas 75201
		 	Attention: Jack Fraker
		 	Facsimile: 214-919-4004

 1.1.9 Effective Date: October 31, 2014 

1.1.10 Title and Survey Review Period: The period beginning on the Effective Date and ending at 5:00 p.m., Dallas, Texas time on
November 17, 2014. 
 1.1.11 Inspection Period: The period beginning on the Effective Date and ending at 5:00 p.m., Dallas,
Texas time on November 21, 2014. 
 1.1.12 Closing Date: November 26, 2014, or such date to which the Closing may be
extended to the extent required by Sections 5.6 or 7.2.1. 
 1.1.13 Property: The Property consists of, collectively, (i) the
Real Property, subject to the Permitted Exceptions (as defined in Section 5.4), (ii) all of Sellers’ right, title and interest in and to the Leases, (iii) all of Sellers’ right, title and interest in and to the Tangible
Personal Property and (iv) all of Sellers’ right, title and interest in and to the Intangible Personal Property (as those terms are defined below). 

1.1.14 Real Property: The Real Property means, collectively: (i) the land described in Exhibit A attached hereto
(the “Land”); (ii) all improvements located on the Land, including, without limitation, the buildings (each, a “Building”) commonly known as 1700 Lakeside Parkway, Flower Mound, Texas, 1650 Lakeside
Parkway, Flower Mound, Texas and 3550 Roy Orr Boulevard, Grand Prairie, Texas (collectively, the “Improvements”); and (iii) all rights, benefits, privileges, easements, and appurtenances on the Land or pertaining thereto. 

1.1.15 Lease. Those certain leases relating to the Real Property set forth on Schedule 1.1.15 attached hereto (the
“Leases,” and each a “Lease”), between one of the Sellers (each individually hereinafter referred to as a “Seller”) and the tenants under such Leases as set forth on Schedule 1.1.15 (the
“Tenants,” and each a “Tenant”). 
 1.1.16 Tangible Personal Property. All equipment, furniture,
furnishings and appliances, if any, that are owned by Sellers and located at and used in connection with the Real Property. 

  
 -2- 

 1.1.17 Intangible Personal Property. The following intangible personal property related to
the Real Property (if any), all to the extent assignable: all trade names and trademarks associated exclusively with the Real Property; the plans and specifications and other architectural and engineering reports or drawings for the Improvements; to
the extent set forth on Schedule 4.6 hereto, contract rights related to the operation, management or tenant improvement work in connection with the Real Property, including maintenance, service, supply and equipment rental contracts, if any,
but not including the Leases or any property management agreement currently encumbering the Real Property (collectively, the items so set forth on Schedule 4.6, the “Service Contracts”) (but Sellers’ right, title and
interest therein shall only be assigned to the extent Sellers’ obligations thereunder are expressly agreed to be assumed by Buyer pursuant to this Agreement); contract rights under that certain Tax Abatement Agreement between Town of Flower
Mound, Texas and CRP Oakmont Flower Mound, L.L.C., dated September 17, 2012 (the “Tax Abatement Agreement”); governmental permits, approvals and licenses; telephone and facsimile numbers; and development rights, agreements and
applications, signage applications, rights and permits, water rights and water stock; but excluding rights under that certain Economic Development Agreement between City of Grand Prairie, Texas and CRP Oakmont Grand Prairie, L.L.C., dated
February 4, 2014, and excluding all proprietary information of Sellers and its managing agent including computer software and related licenses and appraisals, marketing plans, business plans, property appraisals, and other internally-generated
information reasonably intended by Sellers to remain confidential or proprietary (except the original books and records pertaining to the operation of the Property shall not be excluded). 

1.2 Closing Costs. Closing costs shall be allocated and paid as follows: 

 

			
	 	 
	Cost	 	Responsible Party
	 	 
	Commitment required to be delivered pursuant to Section 5.1	 	Buyer
	 	 
	Premium for TLTA Standard Coverage form Title Policy required to be delivered pursuant to Section 5.5	 	Sellers
	 	 
	Premium for additional, incremental charge for TLTA Extended Coverage (including deletion of survey exception) and any endorsements
desired by Buyer, any inspection fee charged by the Title Company, and any other Title Company charges	 	Buyer
	 	 
	Costs of any revisions, modifications or re-certifications of the Existing Survey requested by Buyer	 	Buyer
	 	 
	Costs of the updates of the Existing Survey required pursuant to Section 5.2 hereof.	 	Sellers
	 	 
	Recording fees for recordation of Deeds and documents to remove encumbrances in accordance herewith	 	Sellers
	 	 
	Recording fees for recordation of documents in connection with Buyer’s financing	 	Buyer
	 	 
	Any state, city and/or county documentary transfer taxes, if any	 	 Buyer
 1⁄2
 Sellers  1⁄2

	 	 
	Any escrow fee charged by Escrow Agent for holding the Earnest Money or conducting the Closing	 	 Buyer
 1⁄2
 Sellers  1⁄2

	 	 
	Real Estate Sales Commission to Broker	 	Sellers
	 	 
	Buyer’s legal fees	 	Buyer
	 	 
	Sellers’ legal fees	 	Sellers
	 	 
	Cost of third party reports obtained by Buyer, including any appraisal, engineering and/or environmental reports	 	Buyer
	 	 
	All other closing costs, expenses, charges and fees	 	Per custom in the county in which the Real Property is located (except each party shall pay its own attorneys’ fees)

  
 -3- 

 1.3 Notice Addresses: 

 

			
	 Buyer:
 c/o Industrial Property Trust
Inc.
 518 17th Street, 17th Floor

Denver, Colorado 80202
 Attention: Thomas McGonagle

Facsimile: (303) 869-4602
 Email:
tmcgonagle@industrialpropertytrust.com
  
 Copy to:

Barack Ferrazzano Kirschbaum & Nagelberg LLP
 200 West Madison
Street, Suite 3900
 Chicago, Illinois 60606
 Attn: Jeremy T.
Bunnow
 Facsimile: (312) 984-3150
 Email:
jeremy.bunnow@bfkn.com
	    	 Copy to:
 Joshua J. Widoff

General Counsel
 Industrial Property Trust Inc.

518 17th Street, 17th Floor

Denver, Colorado 80202
 Facsimile: (303) 869-4602

Email: jwidoff@dividendcapital.com

		
	 Seller:
 c/o Oakmont Industrial Group
III, LLC
 3520 Piedmont Road, Suite 100
 Atlanta, Georgia
30305
 Attention: Stephen L. Nelsen
 Telephone:
(404) 869-9990
 Facsimile: (404) 869-9996
 E-mail:
snelsen@oakmontre.com
	    	 Copy to:
 King & Spalding LLP

1180 Peachtree Street NE
 Atlanta, Georgia 30309

Attn: D. Clayton Howell, Esq. and
 Gautam P. Huded, Esq.

Telephone: (404) 572-2741
 Facsimile: (404) 572-5131

E-mail: chowell@kslaw.com

ghuded@kslaw.com

		
	 Copy to:
 c/o Oakmont Industrial Group
III, LLC
 3520 Piedmont Road, Suite 100
 Atlanta, Georgia
30305
 Attention: Thomas A. Cobb
 Telephone:
(404) 869-9952
 Facsimile: (404) 869-9996
 Email:
tcobb@oakmontre.com
	    	 Copy to:
 The Carlyle Group

1001 Pennsylvania Avenue, NW
 Washington, DC 20004-2505

Attention: Michael D. Gershenson
 Telephone: (202) 729-5460

Facsimile: (202) 639-9389
 Email:
michael.gershenson@carlyle.com

 ARTICLE 2 

PURCHASE AND SALE 

Subject to the terms and conditions of this Agreement, Sellers agree to sell to Buyer, and Buyer agrees to purchase from Sellers, the
Property. 

  
 -4- 

 ARTICLE 3 

EARNEST MONEY 
 3.1
Deposit of Earnest Money. Within one (1) business day after the Effective Date, Buyer shall deposit the Earnest Money with Escrow Agent. Escrow Agent shall invest the Earnest Money in government insured interest-bearing accounts
satisfactory to Sellers and Buyer, shall not commingle the Earnest Money, and shall promptly provide Buyer and Sellers with confirmation of the investments made. Such account shall have no penalty for early withdrawal. Any interest actually earned
on the Earnest Money during the period the same is held by the Escrow Agent shall be added to and become a part of the Earnest Money and shall accrue to the benefit of the party entitled to receive or apply the Earnest Money. The Earnest Money and
all interest accrued thereon shall be non-refundable to Buyer for any reason whatsoever, except and only if: 
 (i) this Agreement is
terminated by Buyer prior to the expiration of the Inspection Period pursuant to Sections 4.3 or 5.3, in which case the Non-Refundable Earnest Money shall be paid to Sellers and the balance of the Earnest Money shall be returned
to Buyer as provided in Section 3.3; 
 (ii) this Agreement is terminated by Buyer pursuant to Sections 5.5,
5.6, 6.2, 6.3, or 7.2, in which case the Non-Refundable Earnest Money shall be paid to Sellers and the balance of the Earnest Money shall be returned to Buyer as provided in Section 3.3; 

(iii) this Agreement is terminated by Buyer pursuant to Section 10.2 or by Sellers pursuant to Section 6.2, in which
case the entire Earnest Money shall be returned to and retained by Buyer (following the expiration of the Void Period (as defined in Section 6.2), in the case of any termination by Sellers pursuant to Section 6.2) as provided in
Section 3.3; or 
 (iv) this Agreement is terminated by Buyer pursuant to Section 7.2 as a result of Seller’s
failure to deliver the Conforming Tenant Estoppel (hereinafter defined), in which case the entire Earnest Money shall be returned to and retained by Buyer as provided in Section 3.3; 

(v) this Agreement is terminated by Sellers or Buyer (other than by Buyer or Sellers pursuant to the Sections described in clauses (i),
(ii) or (iii) of this Section 3.1 or by Sellers pursuant to Section 10.1), in which case the Non-Refundable Earnest Money shall be paid to Sellers and the balance of the Earnest Money shall be returned to Buyer as
provided in Section 3.3. 
 3.2 Form; Failure to Deposit. The Earnest Money to be deposited by Buyer shall be in the form
of a wire transfer to Escrow Agent of immediately available U.S. federal funds. If Buyer fails to timely deposit any portion of the Earnest Money within the time periods required, Sellers may terminate this Agreement by written notice to Buyer, in
which case Sellers shall be entitled to receive any such portion not so deposited by Buyer and any Earnest Money that has previously been deposited by Buyer with Escrow Agent shall be delivered to and retained by Sellers, and thereafter the parties
hereto shall have no further rights or obligations hereunder, except for rights and obligations which, by their terms, survive the termination hereof. 

3.3 Disposition of Earnest Money. The Earnest Money (to the extent deposited by Buyer as provided hereinabove), including any accrued
interest thereon, shall be applied as a credit to the Purchase Price at Closing. If Buyer elects to terminate this Agreement prior to the expiration of the Inspection Period pursuant to Sections 4.3 or 5.3, then within
one (1) business day after Escrow Agent’s and Sellers’ receipt of Buyer’s Due Diligence Termination Notice, Escrow Agent shall deliver the Non-Refundable Earnest Money to Sellers and the balance of the Earnest Money shall be
returned to Buyer. If this Agreement is terminated by either Sellers or Buyer pursuant to any provisions of this Agreement (other than by Buyer pursuant to Sections 4.3 or 5.3), then Escrow Agent shall deliver the Earnest Money
then held by Escrow Agent to the party hereto entitled to the same pursuant to such other provisions on or before the fifth (5th) business day after receipt by Escrow Agent and the
non-terminating party of written notice of such termination from the terminating party, unless the other party hereto notifies Escrow Agent that it disputes the right of the other party to receive the Earnest Money. In the event of any such dispute,
Escrow Agent may interplead the Earnest Money into a court of competent jurisdiction in the county in which the Real Property is located. All attorneys’ fees and costs and Escrow Agent’s costs and expenses incurred in connection with such
interpleader shall be assessed against the party that is not awarded the Earnest Money, or if the Earnest Money is distributed in part to both parties, then in the inverse proportion of such distribution. 

  
 -5- 

 ARTICLE 4 

DUE DILIGENCE 
 4.1
Due Diligence Materials. Within two (2) business days following the Effective Date, Sellers shall deliver to Buyer (or make available to Buyer electronically via website drop box or other account) those documents listed on
Exhibit B attached hereto, to the extent actually in Sellers’ or Sellers’ property managers’ possession or reasonable control as of the Effective Date (“Property Documents”). Notwithstanding the foregoing
to the contrary, Sellers shall have no obligation to make available to Buyer, and Buyer shall have no right to inspect or make copies of, any of the Excluded Documents. As used herein, “Excluded Documents” shall mean any of the
following documents: documents involving either Sellers’ financing/refinancing of the Property or any portion thereof; any purchase and escrow agreements and correspondence pertaining to Sellers’ acquisition of the Property or any portion
thereof; any documents pertaining to the potential acquisition of the Property or any portion thereof by any past or prospective purchasers; any third party purchase inquiries and correspondence; appraisals of the Property; Sellers’ entity
documentation (except to the extent required by the Title Company to issue the Title Policy (hereinafter defined); internal budgets; financial projections (except to the extent expressly set forth on Exhibit B); any documents subject to
attorney/client privilege and attorney work product; confidential or privileged information; and any other internal documents intended for internal reporting or similar use (except to the extent expressly set forth on Exhibit B). 

4.2 Physical Due Diligence. Commencing on the Effective Date and continuing until the Closing (or earlier termination of this
Agreement), Buyer shall have reasonable access to the Real Property at reasonable times during normal business hours, upon Sellers’ appropriate notice to Tenants to the extent required under the Leases, for the purpose of conducting inspections
and tests of the Real Property reasonably required by Buyer or its lender, provided that (i) Buyer must give Sellers at least twenty-four (24) hours’ prior notice of any such inspection or test, and with respect to any intrusive
inspection or test (e.g., core sampling) and/or any soil or vapor testing must obtain Sellers’ prior written consent (which consent may be given, withheld or conditioned in Sellers’ sole discretion), (ii) prior to performing
any inspection or test, Buyer must deliver a certificate of insurance to Sellers evidencing that Buyer and/or its contractors, agents and representatives have in place (A) commercial general liability insurance for their activities on the Real
Property with a policy limit of at least $2,000,000.00 per occurrence and otherwise upon terms reasonably satisfactory to Sellers covering any accident arising in connection with the presence of Buyer, its contractors, agents and representatives on
or about the Real Property, which insurance shall name Sellers, Sellers’ property manager and the existing mortgagee of the Real Property as additional insureds thereunder, and (B) workers compensation insurance (as required by law) with
respect to such activities, and (iii) all such inspections and tests shall be conducted by Buyer in compliance with Section 4.8. Buyer shall bear the cost of all such inspections and tests. Subject to the provisions of
Section 4.6, Buyer or Buyer’s representatives may meet with the Tenant or any governmental authority for any good faith, reasonable purpose in connection with the transaction contemplated by this Agreement; provided, however, Buyer
must contact Sellers at least one (1) business day in advance to inform Sellers of Buyer’s intended meeting and to allow Sellers the opportunity to attend such meeting if Sellers desire. 

  
 -6- 

 4.3 Due Diligence/Termination Right. Buyer may terminate this Agreement for any reason or
no reason by giving written notice of termination to Sellers (the “Due Diligence Termination Notice”) on or before 5:00 p.m., Dallas, Texas time, on the last day of the Inspection Period, in which case the Non-Refundable
Earnest Money shall be paid to Sellers and the balance of the Earnest Money shall be returned to Buyer as provided in Section 3.3. If Buyer does not timely give a Due Diligence Termination Notice, this Agreement shall continue in full
force and effect, Buyer shall be deemed to have waived its right to terminate this Agreement pursuant to Section 5.3 and this Section 4.3, and Buyer shall be deemed to have acknowledged that it has received or had sufficient
access to the Property Documents and sufficient opportunity to conduct all inspections and tests of the Property to satisfy itself as to the condition and operation of the Property. 

4.4 Return of Documents and Reports. If this Agreement terminates for any reason, then: (i) Buyer shall promptly return and/or
deliver to Sellers all Property Documents delivered by Sellers to Buyer and any copies thereof made, received or retained by Buyer; and (ii) at Sellers’ request, Buyer shall deliver to Sellers (without any representation or warranty)
copies of all third party reports, investigations and studies, other than economic analyses and documents prepared by Buyer’s attorneys (collectively, the “Reports”) prepared for Buyer in connection with its due diligence
review of the Property. Buyer’s obligation to deliver the Property Documents and the Reports to Sellers shall survive the termination of this Agreement. 

4.5 Service Contracts. Buyer shall assume the Service Contracts at Closing in accordance with Sections 7.3.2 and 7.4.1 hereof. The
parties shall endeavor, without any obligation by Buyer to pay money, to obtain on or prior to the Closing a written release by the third party vendor under such Service Contracts in favor of Sellers releasing the applicable Seller from all of such
Seller’s obligations under such Service Contracts arising from and after the date of Closing. If any such release is not so obtained, the same shall not be a failure of a condition in favor of Sellers or Buyer; however the applicable
Assignment(s) shall be modified by adding the following indemnification provision in favor of the applicable Seller (as assignor thereunder): “Assignee hereby agrees to indemnify, defend protect and hold Assignor harmless from and against any
and all claims, losses, liabilities, demands and expenses of whatever nature, including reasonable attorneys’ fees, suffered or incurred by Assignor by reason of any breach by Assignee of any of its obligations under the Contracts listed as
Item Nos.          and         _ on Exhibit “1” attached hereto [identify the specific Service Contract for which a release
of Sellers was not obtained] arising from and after the date hereof” If any such written release is obtained and delivered to Sellers after Closing, such indemnification shall terminate as to the Service Contract for which such release is
so obtained. 
 4.6 Proprietary Information; Confidentiality. Buyer acknowledges that the Property Documents which are not recorded
or public documents (collectively, the “Non-Public Property Documents”) are proprietary and confidential and will be delivered to Buyer or made available for Buyer’s review solely to assist Buyer in determining the feasibility
of purchasing and financing the Property. Buyer shall not use the Non-Public Property Documents for any purpose other than as set forth in the preceding sentence. Buyer shall not disclose the contents of the Non-Public Property Documents to any
person other than to those persons who are responsible for determining the feasibility of Buyer’s acquisition and financing of the Property (including lenders, partners, investors, consultants, and attorneys) and who have agreed to preserve the
confidentiality of such information as required hereby (collectively, “Permitted Outside Parties”); provided, however, Buyer shall disclose only such information to a particular Permitted Outside Party as is reasonably appropriate
for that Permitted Outside Party to perform its role in assisting Buyer in determining the feasibility of its acquisition and financing of the Property. Buyer shall not divulge the contents of the Non-Public Property Documents and other information
except in strict accordance with the confidentiality standards set forth in this Section 4.6, or except as may be otherwise required by law (including without limitation, any disclosure required by the United States Securities and
Exchange Commission) so long as Buyer uses reasonable efforts to limit the scope of any disclosure so required by law to the fullest extent permitted by applicable law. In permitting Buyer to review the Property Documents or any other information,
Sellers have not waived any privilege or claim of confidentiality with respect thereto, and no third party benefits or relationships of any kind, either express or implied, have been offered, intended or created. The terms of this
Section 4.6 shall terminate as of Closing. 
 4.7 No Representations or Warranties by Sellers. Buyer acknowledges and
agrees that: (i) except as expressly set forth in this Agreement and in the Closing documents and instruments executed and delivered by a Seller at the Closing (collectively, the “Transaction Documents”), Sellers have not made
nor make any representation or warranty regarding the truth, accuracy or completeness of the Property Documents or the sources thereof; (ii) some if not all of the Property Documents were prepared by third parties other than Sellers; and
(iii) Sellers have not undertaken any independent investigation as to the truth, accuracy or completeness of the Property Documents and are providing the Property Documents or making the same available for Buyer’s review solely as an
accommodation to Buyer. Except as expressly set forth in this Agreement and in the Transaction Documents, Sellers expressly disclaim any and all liability for representations or warranties, express or implied, statements of fact and other matters
contained in the Property Documents, or for omissions from the Property Documents, or in any other written or oral communications transmitted or made available to Buyer. Except as expressly set forth in this Agreement and in the Transaction
Documents, Buyer shall rely solely upon its own investigation with respect to the Property, including, without limitation, the Property’s physical, environmental or economic condition, compliance or lack of compliance with any ordinance, order,
permit or regulation or any other attribute or matter relating thereto. 

  
 -7- 

 4.8 Buyer’s Responsibilities. In conducting any inspections, investigations or tests
of the Property and/or Property Documents, Buyer and its agents and representatives shall: (i) not disturb any Tenant or unreasonably interfere with any Tenant’s use of the Property pursuant to a Lease; (ii) not unreasonably interfere
with the operation and maintenance of the Property; (iii) not damage any part of the Property or any personal property, equipment or fixtures owned or held by a Tenant or other third party; (iv) not injure or otherwise cause bodily harm to
Sellers or their respective agents, guests, invitees, licensees contractors and employees or the Tenants or their respective guests, invitees or licensees; (v) comply with all applicable laws; (vi) promptly pay when due the costs of all
tests, investigations, and examinations done with regard to the Property; (vii) not permit any liens to attach to the Property by reason of the exercise of its rights hereunder; (viii) repair any damage to the Real Property to the extent
resulting from or caused by any such inspections, investigations and/or tests, provided, however, Buyer shall have no obligation to repair any damage to the extent caused by a Seller’s gross negligence or willful misconduct, to remediate,
contain, abate or control any matter that existed prior to any entry by Buyer or its employees, agents, representatives, contractors and subcontractors (“Buyer’s Agents”), but is merely discovered by Buyer or Buyer’s
Agents pursuant to activities authorized under this Agreement, except to the extent exacerbated by Buyer or Buyer’s Agents; and (ix) not reveal or disclose prior to Closing any information obtained by Buyer prior to Closing concerning the
Property and the Property Documents to anyone other than the Permitted Outside Parties, in accordance with the confidentiality standards set forth in Section 4.6, or except as may be otherwise required by law (including without
limitation, any disclosure required by the United States Securities and Exchange Commission) so long as Buyer uses reasonable efforts to limit the scope of any disclosure so required by law to the fullest extent permitted by applicable law. 

4.9 Buyer’s Agreement to Indemnify. Buyer hereby indemnifies, defends and holds Sellers harmless from and against any and all
liens, claims, causes of action, damages, liabilities and expenses (including reasonable attorneys’ fees) arising out of Buyer’s inspections, investigations and/or tests of the Property or any violation of the provisions of
Sections 4.2, 4.6 and 4.8; provided, however, this indemnity shall not extend to protect Sellers from any matter that existed prior to any entry by Buyer or Buyer’s Agents, but is merely discovered by Buyer or
Buyer’s Agents pursuant to activities authorized under this Agreement, except to the extent exacerbated by Buyer or Buyer’s Agents, or which results from a Seller’s gross negligence or willful misconduct. Buyer’s obligations
under this Section 4.9 shall survive the termination of this Agreement and shall survive the Closing. 
 ARTICLE 5 

TITLE AND SURVEY 

5.1 Title Commitment. Prior to the Effective Date, Sellers delivered to Buyer (or made available to Buyer electronically via website
drop box or other account), and Buyer received: (i) a TLTA Form T-7 title commitment (the “Commitment”) issued by the Title Company for the issuance of the Title Policy (as defined below); and (ii) copies of all documents
of record referred to in the Commitment as exceptions to title (“Title Documents”). 
 5.2 Survey. Prior to the
Effective Date, Sellers delivered to Buyer (or made available to Buyer electronically via website drop box or other account), and Buyer received, the existing Survey of the Real Property listed on Exhibit B (the “Existing
Survey”). Sellers are currently updating the Existing Survey and will deliver such update to Buyer promptly after Sellers’ receipt thereof, but no later than November 10, 2014. Buyer may elect, at its expense, to modify or
re-certify the Existing Survey (the Existing Survey, as may be so modified or re-certified, the “Survey”) as necessary in order for the Title Company to delete the survey exception from the Title Policy and/or issue Extended
Coverage title insurance, or to otherwise satisfy Buyer’s objectives; however, the issuance and/or receipt of such modified or re-certified Survey shall not be a condition precedent to, or delay, the Closing. 

  
 -8- 

 5.3 Title Review. During the Title and Survey Review Period, Buyer shall review title to
the Real Property as disclosed by the Commitment, the Title Documents and the Survey. All matters shown in the Commitment, the Title Documents and the Survey which are not objected to by Buyer by delivery of written notice thereof
(“Buyer’s Title Objection Notice”) to Sellers on or before the end of the Title and Survey Review Period shall be conclusively deemed to be accepted by Buyer. If Buyer timely delivers to Sellers Buyer’s Title Objection
Notice prior to the end of the Title and Survey Review Period specifying Buyer’s objection to any title exception pertaining to the Real Property shown in the Commitment, the Title Documents and the Survey (each a “Title
Objection” and collectively the “Title Objections”), Sellers may, at their option, exercisable in their sole discretion, eliminate or cure (by title endorsement from the Title Company or otherwise) some or all of such Title
Objections; provided, however, if Sellers are able and willing to eliminate or cure some or all of such Title Objections, Sellers shall deliver to Buyer, within three (3) business days after the end of the Title and Survey Review Period
(“Sellers’ Notice Period”) written notice (“Sellers’ Title Notice”) of those Title Objections Sellers intend to eliminate or cure, in which case the elimination or curing by Sellers of the Title Objections
specified by Sellers for cure or elimination in Sellers’ Title Notice shall constitute an additional covenant of Sellers and be a condition to Buyer’s obligation to consummate the transaction contemplated hereunder. If Sellers do not
deliver Sellers’ Title Notice to Buyer within Sellers’ Notice Period, Buyer is deemed to be notified that Sellers are unable or unwilling to eliminate or cure the Title Objections. If Sellers (i) do not timely deliver Sellers’
Title Notice or (ii) notify or are deemed to have notified Buyer that Sellers are unable or unwilling to cure any particular Title Objection, Buyer shall be deemed to have waived those Title Objections which Sellers are unable or unwilling to
eliminate or cure unless on or before the end of the Inspection Period, Buyer delivers to Sellers and Escrow Agent Buyer’s Due Diligence Termination Notice terminating this Agreement pursuant to Section 4.3. Notwithstanding the
foregoing provisions of this Section 5.3 to the contrary: (A) if Buyer’s termination right pursuant to the foregoing provisions of this Section 5.3 has not expired prior thereto, it shall expire upon expiration of
the Inspection Period; and (B) subject to Buyer’s full performance under this Agreement, Sellers do agree to deliver title to the Real Property at Closing free and clear of (1) delinquent real property taxes, (2) mechanics’
liens and deeds of trust actually recorded against the Real Property that were created by, under or through Sellers, and (3) all matters which Sellers have agreed to eliminate or cure in Sellers’ Title Notice; provided, however, that
Sellers’ obligation to deliver title to the Real Property at Closing free and clear of mechanics’ liens recorded against the Real Property that were created by, under or through Sellers and which mechanics’ liens Sellers are actively
contesting in good faith, may be satisfied by Sellers’ bonding around such mechanics’ liens or taking such other actions or delivering such instruments as will permit the Title Company to issue the Title Policy without exception for such
mechanics’ liens. 
 5.4 Permitted Exceptions. The term “Permitted Exceptions” shall mean, collectively: (i) the
specific exceptions listed in the Commitment that the Title Company has not agreed to remove from the Commitment as of the end of the Inspection Period and that Sellers are not required to eliminate or cure as provided in Section 5.3;
(ii) matters created by, through or under Buyer; (iii) items shown on the Survey which have not been removed as of the end of the Inspection Period; (iv) real estate taxes not yet due and payable; and (v) the Leases. 

5.5 Delivery of Title Policy at Closing. Buyer’s obligation to purchase the Property shall be subject to and conditioned upon the
Title Company’s willingness to issue, upon the sole condition of the payment of its regularly scheduled premium, an TLTA Standard Coverage owner’s policy of title insurance (the “Title Policy”), insuring Buyer in the
amount of the Purchase Price that fee simple title to the Real Property is vested in Buyer as of the Closing, subject only to the standard preprinted conditions and exceptions and the Permitted Exceptions. Buyer shall have the right to request that
the Title Company issue TLTA Extended Coverage title insurance as part of the Title Policy together with such endorsements as Buyer may request as long as the issuance of such TLTA Extended Coverage with endorsements is not a condition precedent to
the Closing (provided, however, the issuance of such TLTA Extended Coverage and/or endorsements shall be a condition precedent to Buyer’s obligation to purchase the Property if and only if Buyer obtained and delivered to Sellers prior to the
end of the Inspection Period a pro forma policy and irrevocable commitment to issue such policy from the Title Company exhibiting the agreed-upon endorsements and survey matters in accordance with this Agreement, without any obligation on
Sellers’ part to execute any affidavits, certificates or other documents or incur any expense or liability as a condition to issuance of such endorsements, other than a standard Owner’s affidavit reasonably approved by Sellers). Buyer
shall pay for all costs of such TLTA Extended Coverage in excess of TLTA Standard Coverage, and the costs of all such endorsements requested by Buyer (other than the cost of those endorsements to effect the cure or elimination of any Title Objection
to be cured or eliminated by Sellers as designated in Sellers’ Title Notice, which cost shall be paid for by Sellers). In the event of any failure of such condition in this Section 5.5, Buyer shall have the right to terminate this
Agreement, in which case the Non-Refundable Earnest Money shall be paid to Sellers, the balance of the Earnest Money shall be returned to Buyer as provided in Section 3.3 and the parties hereto shall have no further rights or
obligations, other than those that by their terms survive the termination of this Agreement. 

  
 -9- 

 5.6 Additional Title Defects. In the event any update to the Commitment or the Survey
obtained after the Title and Survey Review Period, but prior to the Closing Date, discloses additional title or survey defects not disclosed by the original or any previous Commitment or Survey and not otherwise known by Buyer prior to such update
to the Commitment or the Survey (the “Additional Title Defects”), then Buyer shall have the right to deliver an additional Buyer’s Title Objection Notice with respect to such Additional Title Defects only within five
(5) days after receipt of the updated Commitment or Survey disclosing such Additional Title Defects (an “Additional Title Objection Notice”). If Buyer fails to deliver an Additional Title Objection Notice within such 5-day
period, then such Additional Title Defects shall be deemed to be Permitted Exceptions. If Buyer delivers an Additional Title Objection Notice within such 5-day period, then Buyer and Sellers shall follow the procedure set forth in Section 5.3
above, except that Sellers’ Notice Period shall be three (3) business days after delivery of the Additional Title Objection Notice, and if Sellers (i) do not timely deliver Sellers’ Title Notice or (ii) notify or are deemed
to have notified Buyer that Sellers are unable or unwilling to cure any particular Title Objection, then Buyer shall have the right to terminate this Agreement by written notice to Sellers within three (3) business days after the expiration of
Sellers’ Notice Period, and if Buyer fails to affirmatively terminate this Agreement within such period then the Additional Title Defects shall be deemed to be Permitted Exceptions. If Buyer delivers an Additional Title Objection Notice, then
the Closing Date shall not occur until the date that is the later of (a) the date on which the Closing Date is otherwise scheduled to occur, or (b) two (2) business days after all Additional Title Defects are waived or deemed to be
waived by Buyer in accordance with this Section 5.6. 
 ARTICLE 6 

OPERATIONS AND RISK OF LOSS 

6.1 Ongoing Operations. From the Effective Date through Closing: 

6.1.1 Operations. Sellers will perform their material obligations under the Leases and Service Contracts and will maintain in effect
all of its existing insurance policies pertaining to the Property. Without Buyer’s prior written approval, which may be withheld in Buyer’s sole and absolute discretion, Sellers shall not voluntarily (i) transfer any of Sellers’
right, title or interest in or to the Property (ii) cause or permit any deed of trust to be placed of record against the Property, or (iii) cause any other lien or encumbrance to be placed of record against the Property. Sellers will not
deliberately cause any action to be taken which would directly (i.e., without subsequent unforeseen action by any third party) cause any of the representations or warranties of Sellers contained herein to be materially untrue as of the Closing Date;
provided, however, that notwithstanding the foregoing, but without limiting Buyer’s rights under Sections 7.2 and 10.2, Sellers shall have no affirmative obligation to cure any inaccuracy in any of the representations and
warranties of Sellers contained herein. 
 6.1.2 New Contracts. Sellers will not enter into any contract that will be an obligation
affecting the Property or Buyer subsequent to the Closing (except as otherwise provided in Section 6.1.3 below), without first: (i) providing Buyer with notice and a copy of such new contract; and (ii) obtaining Buyer’s
prior approval thereof, if and as required under this Section 6.1.2. Buyer’s approval of such new contract shall not be unreasonably withheld or conditioned, and Buyer shall give Sellers written notice of Buyer’s approval or
reasonable disapproval thereof within two (2) business days after Buyer’s receipt of such notice and copy of such new contract (if Buyer does not notify Sellers of Buyer’s approval or reasonable disapproval of such new contract within
such time period, then Buyer will be deemed to have approved such new contract); provided, however, if such new contract is terminable without penalty on no more than 30 days’ notice, then Buyer’s approval of such new contract shall not be
required. Any such new contract entered into by Sellers pursuant to this Section 6.1.2 which will be an obligation affecting the Property or Buyer subsequent to the Closing shall be part of the Service Contracts to be assumed by Buyer in
the Assignments. 

  
 -10- 

 6.1.3 Leasing. Sellers will not, prior to the Closing Date, terminate a Lease, enter into
any amendment of a Lease, or enter into any new lease or license agreement pertaining to the Property (each, a “Lease Action”) without first: (i) providing Buyer with a copy of the proposed amendment, lease, licensing agreement
or the terms of the termination, as applicable, and any agreements giving rise to a leasing commission with respect thereto (each, a “Lease Action Commission Agreement”); and (ii) obtaining Buyer’s prior approval of such
Lease Action. Buyer agrees to give Sellers written notice of approval or disapproval of a proposed Lease Action within two (2) business days after Buyer’s receipt of a copy of the proposed new lease or licensing agreement, Lease
amendment or terms of Lease termination, as applicable. If Buyer does not respond to Sellers’ request for Buyer’s approval within such time period, then Buyer will be deemed to have approved the proposed Lease Action. With respect to
Sellers’ request for approval of any proposed Lease Action: (A) if such request is delivered by Sellers to Buyer before the date which is three (3) business days prior to the expiration of the Inspection Period, Buyer’s consent
shall not be unreasonably withheld or conditioned; and (B) if such request is delivered by Sellers to Buyer after the date which is three (3) business days prior to the expiration of the Inspection Period, then Buyer may withhold its
consent at its sole discretion. All new amendments to a Lease entered into by Sellers pursuant to this Section 6.1.3 shall be part of such Lease and shall be assumed by Buyer upon Closing in the applicable Assignment(s) (as defined
below). All new leases and licensing agreement entered into by Sellers pursuant to this Section 6.1.3 shall be a Lease under this Agreement and shall be assumed by Buyer upon Closing in the applicable Assignment(s). 

6.2 Damage. If prior to Closing the Real Property is damaged by fire or other casualty, Sellers shall estimate the cost to repair and
the time required to complete repairs (both of which shall be supported by independent third party reports) and will provide Buyer written notice of Sellers’ estimation (the “Casualty Notice”) as soon as reasonably possible
after the occurrence of the casualty. 
 6.2.1 Material. In the event of any Material Damage to or destruction of the Real Property
or any portion thereof prior to Closing (other than any Material Damage or destruction caused by Buyer or its employees, agents advisors or invitees), Buyer may, at its option, terminate this Agreement by delivering a written termination notice to
Sellers within fifteen (15) days after the date Sellers deliver the Casualty Notice to Buyer (and if necessary, the Closing Date shall be extended to give Buyer the full fifteen (15)-day period to make such election). In the event of any
damage or destruction of the Real Property or any portion thereof prior to the Closing Date that is not covered by insurance (other than any deductibles), whether or not such damage or destruction is Material Damage, Sellers may, at their option,
elect to terminate this Agreement by delivering a written termination notice to Buyer (the “Termination Notice”) within fifteen (15) days after the date of such damage or destruction (and if necessary, the Closing Date shall be
extended to give Sellers the full fifteen (15)-day period to deliver such Termination Notice); provided, however, that within two (2) business days following Sellers’ delivery of the Termination Notice pursuant to this sentence (the
“Void Period”), Buyer may unilaterally elect to void Sellers’ election to terminate this Agreement pursuant to the Termination Notice by delivering written notice of such election to Sellers (the “Void
Notice”), with such Void Notice to include a complete waiver by Buyer of any rights to receive from Sellers the amount of the uninsured loss (but not any deductibles) giving rise to Sellers’ election to terminate this Agreement
pursuant to such Termination Notice (and if necessary, the Closing Date shall be extended to give Buyer the full Void Period to deliver such Void Notice). In the event Sellers properly and timely deliver a Termination Notice and thereafter Buyer
fails timely to deliver the Void Notice, then this Agreement shall terminate effective as of the expiration of the Void Period. Upon any such termination pursuant to either of the two preceding sentences, the Earnest Money shall be returned to the
applicable party as provided in Section 3.1 and the parties hereto shall have no further rights or obligations hereunder, other than those that by their terms survive the termination of this Agreement. If Buyer and Sellers do not
terminate this Agreement pursuant to this Section 6.2.1, as applicable, then the parties shall proceed under this Agreement and close on schedule (subject to extension of Closing as provided hereinabove), and as of Closing Sellers shall
assign to Buyer, without representation or warranty by or recourse against Sellers, all of Sellers’ assignable rights in and to any resulting insurance proceeds (including any rent loss insurance applicable to any period on and after the
Closing Date) due Sellers as a result of such damage or destruction and Buyer shall assume full responsibility for all needed repairs, and Buyer shall receive a credit at Closing for any uninsured amount (except to the extent waived pursuant to a
Void Notice) and any deductible amount under such insurance policies to the extent not previously paid by Sellers (but the amount of such credit plus insurance proceeds shall not exceed the Purchase Price). For the purposes of this Agreement,
“Material Damage” and “Materially Damaged” means damage which, in Sellers’ reasonable estimation, exceeds $3,732,165.00, or which could permit any Tenant to terminate its Lease. 

  
 -11- 

 6.2.2 Not Material. If the Real Property is not Materially Damaged, then neither Buyer nor
Sellers shall have the right to terminate this Agreement, and Sellers shall, at their option, either (i) repair the damage before the Closing in a manner reasonably satisfactory to Buyer, or (ii) assign to Buyer, without representation or
warranty by or recourse against Sellers, all of Sellers’ assignable rights in and to any resulting insurance proceeds (including any rent loss insurance applicable to any period on and after the Closing Date) due to Sellers as a result of such
damage or destruction and Buyer shall assume full responsibility for all needed repairs, and Buyer shall receive a credit at Closing for any uninsured amount and any deductible amount under such insurance policies to the extent not previously paid
by Sellers. 
 6.3 Condemnation. If proceedings in eminent domain are instituted with respect to the Real Property or any portion
thereof, then Sellers shall promptly notify Buyer of such proceedings and if the value of the portion of the Real Property with respect to which such proceedings are instituted exceeds $3,732,165.00, or the proceedings could permit any Tenant to
terminate its Lease, then Buyer may, at its option, by written notice to Sellers given within ten (10) days after Sellers notify Buyer of such proceedings (and if necessary the Closing Date shall be automatically extended to give Buyer the full
ten (10)-day period to make such election), either: (i) terminate this Agreement, in which event the Earnest Money shall be returned to the applicable party as provided in Section 3.1 and the parties hereto shall have no further
rights or obligations, other than those that by their terms survive the termination of this Agreement; or (ii) proceed under this Agreement, in which case Sellers shall, at the Closing, assign to Buyer their entire assignable right, title and
interest in and to any condemnation award, and Buyer shall have the sole right after the Closing to negotiate and otherwise deal with the condemning authority in respect thereto. If Buyer does not give Sellers written notice of its election within
the time required above, then Buyer shall be deemed to have elected the option in clause (ii) hereinabove. If the value of the portion of the Real Property with respect to which proceedings in eminent domain are instituted do not exceeds
$3,732,165.00 and would not permit any Tenant to terminate its Lease, then neither Buyer nor Sellers shall have the right to terminate this Agreement, and Sellers shall, at the Closing, assign to Buyer their entire assignable right, title and
interest in and to any condemnation award, and Buyer shall have the sole right after the Closing to negotiate and otherwise deal with the condemning authority in respect thereto. 

6.4 No Further Action Letter. CRP Oakmont Grand Prairie, L.L.C. (the “Grand Prairie Seller”) hereby covenants that
from and after the Effective Date until the Closing, it shall diligently pursue the issuance by the Texas Commission on Environmental Quality (“TCEQ”) of a final Certificate of Completion (the “Final
Certificate”) for the pending application under the TCEQ Voluntary Cleanup Program No. 2640 for the 2.3 acre tract of the Land owned by the Grand Prairie Seller (the “Vacant Parcel”); provided, however, that the
failure of the Grand Prairie Seller to obtain such Final Certificate shall not be a condition precedent to Buyer’s obligation to consummate the Closing in accordance herewith. In the event the Final Certificate is not issued prior to Closing,
Grand Prairie Seller shall, at its sole cost and expense and at all times from and after Closing until December 31, 2015, (i) use commercially reasonable efforts to pursue, the issuance of the Final Certificate by TCEQ, and (ii) upon
issuance of the Final Certificate, if applicable, close and abandon any monitoring wells at the Vacant Parcel in accordance with applicable law. Buyer hereby covenants to reasonably cooperate with Grand Prairie Seller in connection with Grand
Prairie Seller’s performance of its obligations under this Section 6.4, including, without limitation, permitting Seller reasonable access to the Vacant Parcel subject to a reasonable written access agreement entered into by Grand
Prairie Seller and Buyer prior to any such access. Grand Prairie Seller hereby acknowledges and agrees that any testing and inspections shall be subject to Buyer’s reasonable prior approval and in connection with the issuance of the Final
Certificate, no restrictions, controls or other requirements may be imposed on or with respect to the Vacant Parcel, other than a Permanent Institutional Control substantially similar to, and no more restrictive than, the Permanent Institutional
Control imposed on July 19, 2007 with respect to the remainder of the Land owned by Grand Prairie Seller. Notwithstanding anything to the contrary in this Agreement, Buyer acknowledges and agrees that Sellers shall have no liability whatsoever
arising from or in connection with any failure to obtain the Final Certificate on or prior to December 31, 2015, so long as the Grand Prairie Seller uses commercially reasonable efforts to do so as set forth in this Section 6.4. The terms
and provisions of this Section 6.4 shall survive Closing. 

  
 -12- 

 6.5 Estoppels. No later than five (5) days after the Effective Date (or, in the case
of any Lease executed after the Effective Date but before the Closing Date, after the execution of such Lease), Sellers shall request estoppel certificates from each Tenant (and any guarantor of a Tenant’s obligations under a Lease) in the form
attached hereto as Exhibit G or such form as provided in the applicable Lease (each a “Tenant Estoppel Certificate”). Sellers shall use commercially reasonable efforts to obtain and deliver the Tenant Estoppel Certificates to
Buyer on or before three (3) days prior to Closing. Sellers shall provide Buyer with an opportunity to review each Tenant Estoppel Certificate prior to submitting same to each Tenant; provided, however, that the five (5)-day period described in
the first sentence of this Section 6.5 shall be automatically extended with respect to each Tenant Estoppel Certificate by a period of time equal to the number of days that Buyer reviews such Tenant Estoppel Certificate before approving the
same for delivery to the applicable Tenant. 
 ARTICLE 7 

CLOSING 
 7.1
Closing. The consummation of the transaction contemplated herein (“Closing”) shall occur on the Closing Date (as it may be extended pursuant to Sections 5.6 or 7.2.1) at the offices of Escrow Agent (or such other location as
may be mutually agreed upon by Sellers and Buyer). Funds shall be deposited into and held by Escrow Agent in a closing escrow account with a bank satisfactory to Buyer and Sellers. Upon satisfaction or completion of all closing conditions and
deliveries, the parties shall direct Escrow Agent to immediately record and deliver the closing documents to the appropriate parties and make disbursements according to the closing statements executed by Sellers and Buyer. 

7.2 Conditions to Parties’ Obligation to Close. In addition to all other conditions set forth herein, the obligation of Sellers,
on the one hand, and Buyer, on the other hand, to consummate the transactions contemplated hereunder are conditioned upon the following: 

7.2.1 Representations and Warranties. The other party’s representations and warranties contained in this Agreement shall be true
and correct in all material respects; provided, however, if Buyer is actually aware (and Buyer shall be deemed to be actually aware of any disclosures delivered in writing by or on behalf of Sellers to Buyer in accordance with this Agreement,
including, without limitation, any disclosures made by Sellers via an electronic data site, or as a result of any information contained in the Property Documents or the Title Documents actually delivered or made available to Buyer pursuant to this
Agreement) that any of Sellers’ representations and warranties are not true and correct in all material respects prior to the end of the Inspection Period but Buyer nevertheless did not terminate this Agreement pursuant to
Section 4.3, then such inaccuracy shall not be a breach of such representations and warranties or the failure of the condition in this Section 7.2.1; and provided, further, that Sellers shall have the right in their sole
discretion to extend the Closing Date by a period not to exceed ten (10) days to cure any items which if not so cured would result in the condition set forth in this Section 7.2.1 not being satisfied with respect to Seller’s
representations and warranties so long as Sellers actively and diligently pursue such cure during the period of any such extension of the Closing Date pursuant to this Section 7.2.1 (it being acknowledged that, except during the pendency
of any such extension of the Closing Date as and to the extent set forth in this proviso and without limitation on Buyer’s rights under Section 10.2 hereof, Sellers shall have no affirmative obligation to take any steps to cure any
inaccuracy in its representations and warranties); 

  
 -13- 

 7.2.2 Deliveries. As of the Closing Date, the other party shall have tendered all
deliveries to be made at Closing; 
 7.2.3 Actions, Suits, etc. There shall exist no pending actions, suits, arbitrations, claims,
attachments, proceedings, assignments for the benefit of creditors, insolvency, bankruptcy, reorganization or other proceedings, actually filed against the other party that would materially affect either party’s ability to perform its
obligations under this Agreement; and 
 7.2.4 Estoppels. As a condition benefitting Buyer only, Sellers shall have delivered to
Buyer a tenant estoppel certificate from Universal Display & Fixtures Company, a Texas corporation (the “Existing Tenant”) (i) certifying to and for the benefit of Buyer (x) the items the Existing Tenant is
required to certify under clauses (a) through (f) of Section 31 of that certain Lease Agreement by and between the Flower Mound Seller and Existing Tenant, dated as of April 10, 2013 (the “Existing Lease”) and
(y) that, to the current actual knowledge of the Existing Tenant, there exists no uncured breach or default, or state of facts which, with notice, the passage of time, or both, would result in a breach or default on the part of either the
Existing Tenant or the landlord under such Existing Lease, (ii) dated no earlier than forty-five (45) days prior to Closing and (iii) disclosing no material inaccuracy in Sellers’ representations and warranties set forth in
Section 9.1.7 of this Agreement and no material deviations from the copy of the Existing Lease delivered or made available to Buyer pursuant to Section 4.1 of this Agreement (such estoppel certificate conforming to the
requirements set forth above in this Section 7.2.4, the “Conforming Tenant Estoppel”); provided, however, that Sellers shall have the right in their sole discretion to extend the Closing Date by a period not to exceed
ten (10) days to obtain the Conforming Tenant Estoppel described in this Section 7.2.4, so long as Sellers actively and diligently pursue such Conforming Tenant Estoppel during the period of any such extension of the Closing Date
pursuant to this Section 7.2.4. 
 So long as a party is not in default hereunder, if any condition to such party’s obligation to proceed
with the Closing hereunder has not been satisfied or waived by such party as of the Closing Date (or such earlier date as is provided herein), then such non-defaulting party may elect, in its sole discretion, either to: (i) terminate this
Agreement by delivering written notice to the other party on or before the Closing Date; or (ii) close notwithstanding the non-satisfaction of such condition (in which case such party shall be deemed to have waived such non-satisfied condition,
and there shall be no liability on the part of the other party hereto for any inaccuracies of representations and warranties of which the party electing to close had knowledge at the Closing). If either Buyer or Sellers elects to terminate this
Agreement pursuant to the foregoing, the Earnest Money shall be returned to the applicable party as provided in Section 3.1; provided, however, nothing contained in this Section 7.2 shall affect the rights and remedies of Sellers
under Section 10.1 and of Buyer under Section 10.2, in each case to the extent applicable. 
 7.3 Sellers’
Deliveries in Escrow. As of or prior to the Closing Date, Sellers shall deliver into escrow to Escrow Agent the following documents duly executed by Sellers: 

  
 -14- 

 7.3.1 Deed. A special warranty deed executed by each Seller in the form of
Exhibit C attached hereto (the “Deeds” and each a “Deed”), conveying the Real Property subject to the Permitted Exceptions; 

7.3.2 Bill of Sale, Assignment and Assumption. A Bill of Sale, Assignment and Assumption executed by each Seller in the form of
Exhibit D attached hereto (the “Assignments” and each an “Assignment”), conveying such Seller’s interest in the Leases, the Tangible Personal Property, the Intangible Personal Property (including
the Tax Abatement Agreement) and the Service Contracts; 
 7.3.3 Conveyancing or Transfer Tax Forms or Returns. Such conveyancing or
transfer tax forms or returns, if any, as are required to be delivered or signed by each Seller by applicable state and local law in connection with the conveyance of the Real Property; 

7.3.4 Sellers’ Non-Foreign Certificates. An affidavit as required by the Foreign Investors Real Property Tax Act (as amended), in
the form of Exhibit E attached hereto, executed by each Seller (or such other entity as is recognized as the transferor of such Seller’s interest in the Property for federal income tax purposes); 

7.3.5 Tenant Notices. A notice from the applicable Seller to each Tenant in the form of Exhibit F attached hereto
(“Tenant Notices” and each a “Tenant Notice”), informing each Tenant of the change of ownership of the Real Property to such new owner. Buyer shall promptly provide to Sellers all necessary information regarding the
Buyer required to complete each Tenant Notice; 
 7.3.6 Closing Statement. Sellers’ duly-executed counterpart to the closing
statement prepared in accordance with Section 7.5; 
 7.3.7 Title Documentation. Such evidence of authority and organization and
such reasonable and customary owner’s affidavits and gap undertakings as may be required by the Title Company in connection with the issuance of the Title Policy; and 

7.3.8 Additional Documents. Any additional documents that Buyer, Escrow Agent or the Title Company may reasonably require for the
proper consummation of the transaction contemplated by this Agreement (but no such additional document shall expand any existing or result in any new obligation, liability, covenant, representation or warranty of Sellers under this Agreement beyond
those expressly set forth in this Agreement). 
 7.4 Buyer’s Deliveries in Escrow. As of or prior to the Closing Date, Buyer
shall deliver in escrow to Escrow Agent the following: 
 7.4.1 Bill of Sale, Assignment and Assumption. The Assignments, executed by
Buyer; 
 7.4.2 Transfer Tax Forms or Returns. Such conveyancing or transfer tax forms or returns, if any, as are required to be
delivered or signed by Buyer by applicable state and local law in connection with the conveyance of Real Property; 
 7.4.3 Closing
Statement. Buyer’s duly-executed counterpart to the closing statement prepared in accordance with Section 7.5; and 
 7.4.4
Additional Documents. Any additional documents that Sellers, Escrow Agent or the Title Company may reasonably require for the proper consummation of the transaction contemplated by this Agreement (but no such additional document shall expand
any existing or result in any new obligation, liability, covenant, representation or warranty of Buyer under this Agreement beyond those expressly set forth in this Agreement). 

  
 -15- 

 7.5 Closing Statements. As of or prior to the Closing Date, Sellers and Buyer shall
deposit with Escrow Agent executed pro forma closing statements consistent with this Agreement in the form required by Escrow Agent. At least two (2) business days prior to the Closing Date, Buyer and Sellers shall cooperate with each
other and Escrow Agent to cause Escrow Agent to deliver drafts of such pro forma closing statements to Buyer and Sellers for review and comment. 

7.6 Purchase Price. No later than 11:00 a.m. (Central Time) on the Closing Date, Buyer shall deliver to Escrow Agent the Purchase
Price, less the Earnest Money that is applied to the Purchase Price, plus or minus applicable prorations, in immediate, same-day U.S. federal funds wired for credit into Escrow Agent’s escrow account, which funds must be delivered in a manner
to permit Escrow Agent to deliver, by wire transfer, good funds to Sellers or their designee on the Closing Date. 
 7.7 Possession.
Sellers shall deliver possession of the Real Property to Buyer at the Closing, subject to the Permitted Exceptions. 
 7.8 Delivery of
Books and Records. Within five (5) business days after the Closing, Sellers shall deliver, to the offices of Buyer’s property manager or to the Real Property the following documents and materials to the extent in Sellers’ or
Sellers’ property manager’s possession or control: the Leases and each Lease file; maintenance records and warranties; plans and specifications; licenses, permits and certificates of occupancy; copies or originals of all books and records
of account, contracts, and copies of correspondence with the Tenants and suppliers; receipts for deposits, unpaid bills and other 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. 
 ARTICLE 8  

PRORATIONS; DEPOSITS; COMMISSIONS 

8.1 Prorations. At Closing, the following items shall be prorated as of the date of Closing with all items of income and expense for
the Property being borne by Buyer from and after (but including) the date of Closing: Tenant Receivables (as defined below); utility costs, fees and assessments; prepaid expenses and obligations under those Service Contracts that are being assigned
to Buyer at Closing; accrued operating expenses; real and personal ad valorem taxes and assessments to the extent applicable to the Property to be conveyed (“Taxes”); and any assessments by private covenant that run with the Land
and will continue to bind the Property after the Closing (including, without limitation, payments made under any reciprocal easement agreements and/or any documents containing covenants, conditions and restrictions affecting the Property) for the
then-current calendar year of Closing. Specifically, the following shall apply to such prorations: 
 8.1.1 Taxes. If Taxes for the
year of Closing are not known or cannot be reasonably estimated, Taxes shall be prorated based on Taxes for the year prior to Closing. Any real property taxes and assessments arising out of the sale of the Real Property to Buyer (or its assignee) or
a subsequent sale or change in ownership thereafter, and/or arising out of any construction pertaining to the Real Property following the Closing, shall be paid by Buyer when assessed (which obligation shall survive the Closing). Any supplementary
tax bills received by Buyer or Sellers following the Closing relating to a period prior to Closing shall be prorated by the parties as if such tax bills had been available at Closing (which obligation shall survive the Closing). 

  
 -16- 

 8.1.2 Tenant Receivables. Rents and other amounts due from the Tenants under the Leases
(the “Tenant Receivables”) shall be apportioned on the basis of the period for which the same is payable and if, as and when collected, as follows: 

(a) Tenant Receivables and other income and payments received from a Tenant under a Lease after Closing in the following order of priority:
(i) first, to Tenant Receivables first coming due after Closing and applicable to the period of time after Closing, which amount shall be retained by Buyer; (ii) second, to payment of the current Tenant Receivables
then due for the month in which the Closing occurs, which amount shall be apportioned between Buyer and Sellers as of the Closing as set forth in Section 8.1 (with Sellers’ portion thereof to be delivered to Seller);
(iii) third, to payment of Tenant Receivables first coming due after Closing but applicable to the period of time before Closing (“Unbilled Tenant Receivables”), which amount shall be delivered to Sellers; and
(iv) thereafter, to delinquent Tenant Receivables which were due and payable as of Closing but not collected by Sellers as of Closing (collectively, “Uncollected Delinquent Tenant Receivables”), which amount shall be delivered
to Sellers. Notwithstanding the foregoing, Sellers shall have the right to pursue the collection of Uncollected Delinquent Tenant Receivables for a period of one (1) year after Closing without prejudice to Sellers’ rights or Buyer’s
obligations hereunder; provided, however, Sellers shall have no right to cause a Tenant to be evicted or to exercise any other “landlord” or “licensor” remedy (as set forth in any Lease) against a Tenant other than to sue for
collection, and provided further that Sellers may not commence any legal action against a Tenant until sixty (60) days after Closing and then only after fifteen (15) days’ prior notice to Buyer. Any sums received by Buyer to which
Sellers are entitled shall be held in trust for Sellers on account of such past due rents and license fees payable to Sellers, and Buyer shall remit to Sellers any such sums received by Buyer to which Sellers are entitled within ten
(10) business days after receipt thereof. Sellers expressly agrees that if Sellers receive any amounts after the Closing which are attributable, in whole or in part, to any period after the Closing, Sellers shall remit to Buyer that portion of
the monies so received by Sellers to which Buyer is entitled (in accordance with this Section 8.1.2) within ten (10) business days after receipt thereof. With respect to Unbilled Tenant Receivables, Buyer covenants and agrees to
(A) bill the same when billable and (B) cooperate with Sellers to determine the correct amount of taxes and/or insurance due. 

(b) The provisions of this Section 8.1.2 shall survive the Closing. 

8.1.3 Leasing Commissions. Sellers shall be solely responsible for all leasing commissions, tenant improvement credits or allowances or
other leasing costs associated with any Lease in place as of the Effective Date or not disclosed in a Lease or commission agreement delivered or made available on an electronic data site or otherwise as part of the Property Documents (an
“Undisclosed Commission”); provided, however, Buyer shall be solely responsible for any leasing commissions, tenant improvement credits or allowances or other leasing costs (expressly excluding Undisclosed Commissions) relating to a
future amendment, expansion or renewal of a Lease or associated with any Lease Action (provided, in the case of leasing commissions, the same are due pursuant to any Lease Action Commission Agreement) (the “Leasing Costs”), and such
Leasing Costs shall not be prorated. The provisions of this Section 8.1.3 shall survive the Closing. 
 8.2 Closing
Costs. Closing costs shall be allocated between Sellers and Buyer in accordance with Section 1.2. 
 8.3 Final Adjustment
After Closing. If final bills are not available or cannot be issued prior to Closing for any item being prorated under Section 8.1, then Buyer and Sellers agree to allocate such items on a fair and equitable basis as soon as such
bills are available, final adjustment to be made as soon as reasonably possible after the Closing; provided, however, such final adjustment shall be made by the date which is six (6) months after the Closing. Payments in connection with the
final adjustment shall be due within thirty (30) days of written notice. All such rights and obligations shall survive the Closing. 

8.4 Security Deposit. Except as set forth on Schedule 1.1.15, Sellers do not hold a security deposit under any Lease. If a Seller holds
any security deposits under any Lease at Closing, such Seller shall provide a credit to Buyer in the amount of such security deposits. 

8.5 Commissions. Sellers shall pay to Broker (identified in Section 1.1.8) the real estate sales commission due Broker at
Closing (but only if the Closing occurs in accordance with this Agreement) pursuant to a separate agreement among Sellers and Broker. Other than as stated above in this Section 8.5, Sellers, on the one hand, and Buyer, on the other hand,
each represents and warrants to the other that no real estate brokerage commission is payable to any person or entity in connection with the transaction contemplated hereby, and each agrees to and does hereby indemnify and hold the other harmless
from and against the payment of any commission to any other person or entity claiming by, through or under Sellers or Buyer, as applicable. The foregoing indemnity shall extend to any and all claims, liabilities, costs and expenses (including
reasonable attorneys’ fees and litigation costs) arising as a result of such indemnified claims and shall survive the Closing. 

  
 -17- 

 ARTICLE 9 

REPRESENTATIONS AND WARRANTIES 

9.1 Sellers’ Representations and Warranties. Sellers represents and warrants to Buyer that: 

9.1.1 Organization and Authority. Each Seller has been duly organized, is validly existing, and is in good standing in the state in
which it was formed, and is qualified to do business in the State of Texas. Each Seller has the full right and authority and has obtained any and all consents required to enter into this Agreement and to consummate or cause to be consummated the
transactions contemplated hereby. This Agreement has been, and all of the Transaction Documents to be delivered by a Seller at the Closing will be, authorized and properly executed and constitute, or will constitute, as appropriate, the valid and
binding obligation of such Seller, enforceable in accordance with their terms. 
 9.1.2 Conflicts and Pending Actions. There is no
agreement to which a Seller is a party or, to Sellers’ knowledge, binding on a Seller which is in conflict with this Agreement. To Sellers’ knowledge, as of the Effective Date, there is no action or proceeding pending or threatened against
a Seller which challenges or impairs either Seller’s ability to execute or perform its obligations under this Agreement. 
 9.1.3
Employees. As of the Closing, there will be no employees of a Seller who will become employees of Buyer solely as a result of the sale of the Property to Buyer. 

9.1.4 Notices from Governmental Authorities. To Sellers’ knowledge, except as otherwise disclosed by or contained in the Property
Documents, as of the Effective Date Sellers have not received from any governmental authority written notice of any violation of any laws applicable (or alleged to be applicable) to the Real Property that has not been corrected. Except as disclosed
in the Tax Abatement Agreement, Sellers have not submitted an application for the creation of any special taxing district affecting the Property, or annexation thereby, or inclusion therein. To Sellers’ knowledge, there is no ongoing appeal
with respect to taxes or special assessments on the Real Property for any year. 
 9.1.5 Litigation. To Sellers’ knowledge,
except as otherwise disclosed by or contained in the Property Documents, as of the Effective Date: (i) neither Seller is a party to any litigation or other court proceeding which adversely affects the Real Property; and (ii) neither Seller
has received any written notice threatening any such litigation or other court proceeding which adversely affects the Real Property. No petition in bankruptcy (voluntary or otherwise) under federal or state bankruptcy law is pending against (or, to
Sellers’ Knowledge, threatened or contemplated) by or against a Seller or any general partner or managing member of a Seller. 
 9.1.6
Eminent Domain. To Sellers’ knowledge, except as otherwise disclosed by or described in the Property Documents, as of the Effective Date neither Seller has received written notice of any condemnation or eminent domain proceeding pending
or threatened, with regard to the Real Property. 
 9.1.7 Leases. To Sellers’ knowledge, the Tenants listed on Schedule
1.1.15 are the only tenants of the Real Property or occupants of the Real Property, and as of the date of this Agreement, neither Seller has entered into any other Lease other than as described on Schedule 1.1.15. Sellers have made
available to Buyer true, correct and complete copies of the Leases. Neither Seller has given or received any written notice of default under the Leases which remains uncured. As of the date of this Agreement all leasing commissions due to brokers
under any of the Leases, and all tenant improvement obligations and similar allowances to tenants, have been fully paid and satisfied by Sellers and no such commissions, obligations, concessions or inducements become payable in the future, except
with respect to a future amendment, expansion or renewal of a Lease or the execution of a new Lease. 
 9.1.8 Service Contracts. To
Sellers’ knowledge, except as otherwise disclosed in the Property Documents, as of the Effective Date the list of Service Contracts to be assumed by Buyer set forth on Schedule 4.6 attached to this Agreement is accurate in all
material respects. 
 9.1.9 OFAC and Patriot Act. None of either Seller nor any of their respective executive officers, directors,
managers, agents, employees, shareholders owning more than 10% of the interests in either Seller, members, partners, and other investors owning more than 10% of the interests in either Seller, or any other person that owns owning more than 10% of
the interests in either Seller or controls either Seller or any entity on whose behalf either Seller acts, is now or at any time through the Closing Date shall be a person who has been listed on (i) the Specially Designated Nationals and
Blocked Persons List contained in Appendix A to 31 C.F.R., Subtitle B, Part V; (ii) the Denied Persons List, the Entity List, and the Unverified Parties List maintained by the United States Department of Commerce; (iii) the List of
Terrorists and List of Debarred Parties maintained by the United States Department of State; and/or (iv) any other similar list maintained by any federal or state agency or pursuant to any Executive Order of the President of the United States
of America. 
  

  
 -18- 

 9.1.10 Non-Foreign Status. Neither Seller is a foreign person, foreign corporation,
foreign partnership, foreign trust or foreign estate, as those terms are defined in (a) the Internal Revenue Code of 1986, as amended and the corresponding income tax regulations, and (b) similar provisions of state law. 

9.2 Buyer’s Representations and Warranties. Buyer represents and warrants to Sellers that: 

9.2.1 Organization and Authority. Buyer has been duly organized, is validly existing and is in good standing in the state in which it
is formed, and will be qualified to do business in the State of Texas by the Closing Date. Buyer has the full right and authority and has obtained any and all consents required to enter into this Agreement and to consummate or cause to be
consummated the transactions contemplated hereby; provided, however, that Buyer may require other approvals in order to consummate the acquisition of the Real Property, which Buyer will have if Buyer does not terminate this Agreement prior to the
expiration of the Inspection Period. This Agreement has been, and all of the Transaction Documents to be delivered by Buyer at the Closing will be, authorized and properly executed and constitute, or will constitute, as appropriate, the valid and
binding obligation of Buyer, enforceable in accordance with their terms. 
 9.2.2 Conflicts and Pending Actions. There is no agreement
to which Buyer is a party or, to Buyer’s knowledge, binding on Buyer which is in conflict with this Agreement. To Buyer’s knowledge, as of the Effective Date there is no action or proceeding pending or threatened against Buyer which
challenges or impairs Buyer’s ability to execute or perform its obligations under this Agreement. 
 9.2.3 ERISA. Either
(i) no portion of the assets used to acquire the Property constitutes assets of any employee benefit plan subject to Title I of the U.S. Employee Retirement Income Security Act of 1974, as amended (“ERISA”), any plan, account
or other arrangement that is subject to Section 4975 of the U.S. Internal Revenue Code of 1986, as amended (the “Code”), or provisions under any other federal, state, local, non-U.S. or other laws or regulations that are
similar to such provisions of ERISA or the Code (“Similar Laws”), or an entity whose underlying assets are considered to include “plan assets” of any such plan, account or arrangement or (ii) the acquisition of the
Property will not constitute a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code or a similar violation under any applicable Similar Law. 

9.2.4 OFAC. None of Buyer nor any of its executive officers, directors, managers, agents, employees, shareholders owning more than 10%
of the interests in Buyer, members, partners, and other investors owning more than 10% of the interests in Buyer, or any other person that owns more than 10% of the interests in Buyer or controls Buyer or any entity on whose behalf Buyer acts, is
now or at any time through the Closing Date shall be a person who has been listed on (i) the Specially Designated Nationals and Blocked Persons List contained in Appendix A to 31 C.F.R., Subtitle B, Part V; (ii) the Denied Persons List,
the Entity List, and the Unverified Parties List maintained by the United States Department of Commerce; (iii) the List of Terrorists and List of Debarred Parties maintained by the United States Department of State; and/or (iv) any other
similar list maintained by any federal or state agency or pursuant to any Executive Order of the President of the United States of America. 

9.2.5 Source of Funds. Buyer, directly or through its parent entities, has available to it unrestricted funds which it may use in its
sole discretion to pay the full Purchase Price and otherwise comply with the provisions of this Agreement. Buyer expressly acknowledges and agrees that its obligations under this Agreement are not contingent upon Buyer obtaining financing for the
purchase of the Property. 

  
 -19- 

 9.3 Survival of Representations and Warranties. The representations and warranties set
forth in this Article 9 shall not be deemed to be merged into or waived by the Transaction Documents, but shall survive the Closing for a period of six (6) months (the “Survival Period”). Terms such as “to
Sellers’ knowledge” or like phrases: (i) mean the actual present and conscious awareness or knowledge of Thomas A. Cobb (the “Knowledge Party”), without any duty of inquiry or investigation (provided that so
qualifying Sellers’ knowledge shall not give rise to any personal liability on the part of the Knowledge Party or any other officer or employee of either Seller, on account of any breach of any representation or warranty made by a Seller
herein); and (ii) do not include constructive knowledge, imputed knowledge, or knowledge Sellers or such persons do not have but could have obtained through further investigation or inquiry. No broker, agent, or party other than Sellers are
authorized to make any representation or warranty for or on behalf of Sellers. Each party shall have the right to bring an action against the other on the breach of a representation or warranty hereunder, but only on the following conditions:
(A) the party bringing the action for breach first learns of the breach after the Closing, notifies Sellers of such breach within the Survival Period and files such action within thirty (30) days after first learning of such breach; and
(B) neither party shall have the right to bring a cause of action for a breach of a representation or warranty unless the damage to such party on account of such breach (individually or when combined with damages from other breaches) equals or
exceeds $100,000.00. Neither party shall have any liability after the Closing for the breach of a representation or warranty hereunder of which the other party hereto had knowledge as of the Closing. Furthermore, Buyer agrees that notwithstanding
anything to the contrary contained in this Agreement, the post-Closing maximum liability of Sellers, collectively, under in this Agreement and the Transaction Documents is limited to actual damages directly arising from any a breach of this
Agreement or the Transaction Documents, not to exceed $750,000.00 in the aggregate (the “Liability Cap”); provided, however, that the Liability Cap shall not apply to any prorations, and attorneys’ fees obligations hereunder.
The provisions of this Section 9.3 shall survive the Closing. Any breach of a representation or warranty that occurs prior to the Closing and which a party had knowledge thereof prior to the Closing shall be governed by
Article 10. 
 ARTICLE 10 

DEFAULT AND REMEDIES 

10.1 Sellers’ Remedies. IF THE CLOSING AND THE CONSUMMATION OF THE TRANSACTIONS HEREIN CONTEMPLATED DO NOT OCCUR BY REASON OF ANY
DEFAULT BY BUYER UNDER THIS AGREEMENT, THEN SELLERS SHALL BE ENTITLED, AS THEIR SOLE REMEDY (EXCEPT AS PROVIDED IN SECTIONS 4.9, 8.5, 10.3 AND 10.4), TO TERMINATE THIS AGREEMENT AND RETAIN OR RECOVER (AS THE CASE MAY
BE) THE ENTIRE EARNEST MONEY AS LIQUIDATED DAMAGES AND NOT AS PENALTY, IN FULL SATISFACTION OF CLAIMS AGAINST BUYER HEREUNDER. SELLERS AND BUYER AGREE THAT SELLERS’ DAMAGES RESULTING FROM ANY SUCH BUYER’S DEFAULT ARE DIFFICULT, IF NOT
IMPOSSIBLE, TO DETERMINE AND THE EARNEST MONEY IS A FAIR ESTIMATE OF THOSE DAMAGES WHICH HAS BEEN AGREED TO IN AN EFFORT TO CAUSE THE AMOUNT OF SUCH DAMAGES TO BE CERTAIN. THE PARTIES ACKNOWLEDGE THAT THE PAYMENT OF SUCH LIQUIDATED DAMAGES IS NOT
INTENDED AS A FORFEITURE OR PENALTY, BUT IS INTENDED TO CONSTITUTE LIQUIDATED DAMAGES TO SELLERS. NOTWITHSTANDING ANYTHING IN THIS SECTION 10.1 TO THE CONTRARY, IN THE EVENT OF BUYER’S DEFAULT OR A TERMINATION OF THIS AGREEMENT,
SELLERS SHALL HAVE ALL REMEDIES AVAILABLE AT LAW OR IN EQUITY IF BUYER OR ANY PARTY RELATED TO OR AFFILIATED WITH BUYER IS ASSERTING BY LEGAL PROCEEDINGS, NOTICES OR FILINGS ANY CLAIMS OR RIGHT TO THE PROPERTY (INCLUDING, WITHOUT LIMITATION, THE
RECORDING OF A LIS PENDENS OR OTHER LIEN AGAINST THE PROPERTY OR ANY PORTION THEREOF OR THE SEEKING OF AN INJUNCTION OR SIMILAR RELIEF) THAT WOULD OTHERWISE DELAY OR PREVENT SELLERS FROM HAVING CLEAR, INDEFEASIBLE AND MARKETABLE TITLE TO THE
PROPERTY OR ANY PORTION THEREOF. IN ALL OTHER EVENTS SELLERS’ REMEDIES SHALL BE LIMITED TO THOSE DESCRIBED IN THIS SECTION 10.1 AND SECTIONS 4.9, 8.5, 10.3 AND 10.4 HEREOF. IF THE CLOSING IS
CONSUMMATED, SELLERS SHALL HAVE ALL REMEDIES AVAILABLE AT LAW AND/OR IN EQUITY IF BUYER FAILS TO PERFORM ANY OF BUYER’S POST-CLOSING OBLIGATIONS UNDER THIS AGREEMENT. 

10.2 Buyer’s Remedies. If (a) the Closing and the consummation of the transactions herein contemplated do not occur by reason
of any default by Sellers under this Agreement, (b) prior to Closing any one or more of Sellers’ representations or warranties are determined to be untrue in any material respect when made herein (a “Representation
Default”) or (c) Sellers have defaulted under any of their obligations under this Agreement (or, with respect to Sellers’ obligations under Section 12.8 of this Agreement only, Sellers have materially defaulted under
such obligations), and have not cured such default within ten (10) days of receiving written notice of such default from Buyer (and if necessary the Closing Date shall be extended to give Sellers the full ten (10)-day period to cure any such
default), then, Buyer shall elect, as its sole remedy, either to: 

  
 -20- 

 (i) waive said failure or breach and proceed to the Closing; 

(ii) terminate this Agreement by giving Sellers written notice of such election prior to the Closing Date and recover from Escrow Agent, the
entire Earnest Money then held by Escrow Agent, and, if and only if specific performance is not available under clause (iii) below, recover from Sellers an amount equal to Buyer’s documented due diligence and legal expenses related to this
Agreement, but not to exceed $100,000.00 in the aggregate; or 
 (iii) enforce specific performance; provided, however, as conditions
precedent to Buyer’s right to enforce specific performance against Sellers (including the filing of a lis pendens or other claim or lien against the Property), all of the following must first have occurred: (A) a suit for specific
performance must be filed by Buyer in a proper court in the county in which the Real Property is located by the 15th day following the scheduled Closing Date; and (B) Buyer must have either deposited with Escrow Agent the Purchase Price, or
provided Sellers with clear documentary evidence that Buyer has immediately available liquid funds in an amount sufficient to fund the Purchase Price; and (C) Buyer must have fully performed all of its material obligations under this Agreement
necessary to permit the Closing to occur in accordance with the terms of this Agreement and waived all closing conditions for Buyer’s benefit. Buyer hereby waives any and all rights Buyer may have to obtain specific performance and to file a
lis pendens or any other claim or lien against the Property unless and until the express conditions precedent set forth above in this clause (iii) have been satisfied. 

Notwithstanding anything contained in this Section 10.2 to the contrary, in the event of a Representation Default of which Buyer
was aware prior to the end of the Inspection Period, Buyer shall be deemed to have elected the remedy set forth in clause (i) of this Section 10.2 unless, prior to the end of the Inspection Period, Buyer elects a remedy under either
clause (ii) or clause (iii) of this Section 10.2. 
 IN NO EVENT SHALL (X) SELLERS OR BUYER HAVE ANY LIABILITY
FOR ANY CONSEQUENTIAL, SPECIAL OR PUNITIVE DAMAGES FOR ANY CLAIM, CAUSE OF ACTION OR OTHER LIABILITY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE PROPERTY, WHETHER BASED ON CONTRACT, COMMON LAW, STATUTE, EQUITY OR OTHERWISE, AND/OR
(Y) SELLERS’ DIRECT OR INDIRECT PARTNERS, SHAREHOLDERS, MEMBERS, OWNERS OR AFFILIATES, ANY OFFICER, DIRECTOR, EMPLOYEE OR AGENT OF THE FOREGOING, OR ANY AFFILIATE OR CONTROLLING PERSON THEREOF (COLLECTIVELY, THE “SELLER
PARTIES”) OR BUYERS’ DIRECT OR INDIRECT PARTNERS, SHAREHOLDERS, MEMBERS, OWNERS OR AFFILIATES, ANY OFFICER, DIRECTOR, EMPLOYEE OR AGENT OF THE FOREGOING, OR ANY AFFILIATE OR CONTROLLING PERSON THEREOF HAVE ANY LIABILITY FOR ANY CLAIM,
CAUSE OF ACTION OR OTHER LIABILITY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE PROPERTY, WHETHER BASED ON CONTRACT, COMMON LAW, STATUTE, EQUITY OR OTHERWISE. 

10.3 Attorneys’ Fees. If either party hereto employs an attorney in connection with claims by one party against the other arising
from the operation of this Agreement, the non-prevailing party shall pay the prevailing party all reasonable fees and expenses, including attorneys’ fees, incurred in connection with such transaction. 

10.4 Other Expenses. If this Agreement is terminated due to the default of a party, then the defaulting party shall pay any fees due to
Escrow Agent for holding the Earnest Money plus any escrow cancellation fees and any fees due to the Title Company for preparation and/or cancellation of the Commitment. 

  
 -21- 

 ARTICLE 11 

DISCLAIMERS; RELEASE 

11.1 Disclaimers By Sellers. Except as expressly set forth in this Agreement and in the Transaction Documents, it is understood and
agreed that Sellers have not at any time made and are not now making, and specifically disclaims, any warranties or representations of any kind or character, express or implied, with respect to the Property, including, but not limited to, warranties
or representations as to (i) matters of title, (ii) environmental matters relating to the Property or any portion thereof, including, without limitation, the presence of Hazardous Materials in, on, under or in the vicinity of the Property,
(iii) geological conditions, including, without limitation, subsidence, subsurface conditions, water table, underground water reservoirs, limitations regarding the withdrawal of water, and geologic faults and the resulting damage of past and/or
future faulting, (iv) whether, and to the extent to which the Property or any portion thereof is affected by any stream (surface or underground), body of water, wetlands, flood prone area, flood plain, floodway or special flood hazard or fire
hazard, (v) drainage, (vi) soil conditions, including the existence of instability, past soil repairs, soil additions or conditions of soil fill, or susceptibility to landslides, or the sufficiency of any undershoring, (vii) the
presence of endangered species or any environmentally sensitive or protected areas, (viii) zoning or building entitlements to which the Property or any portion thereof may be subject, (ix) the availability of any utilities to the Property
or any portion thereof including, without limitation, water, sewage, gas and electric, (x) usages of adjoining property, (xi) access to the Property or any portion thereof, (xii) the value, compliance with the plans and
specifications, size, location, age, use, design, quality, description, suitability, structural integrity, operation, title to, or physical or financial condition of the Property or any portion thereof, or any income, expenses, charges, liens,
encumbrances, rights or claims on or affecting or pertaining to the Property or any part thereof, (xiii) the condition or use of the Property or compliance of the Property with any or all past, present or future federal, state or local
ordinances, rules, regulations or laws, building, fire or zoning ordinances, codes or other similar laws, (xiv) the existence or non-existence of underground storage tanks, surface impoundments, or landfills, (xv) the merchantability of
the Property or fitness of the Property for any particular purpose, (xvi) the truth, accuracy or completeness of the Property Documents, (xvii) tax consequences, or (xviii) any other matter or thing with respect to the Property. 

11.2 Sale “As Is, Where Is.” Buyer acknowledges and agrees that upon Closing, Sellers shall sell and convey to Buyer and
Buyer shall accept the Property “AS IS, WHERE IS, WITH ALL FAULTS,” except to the extent expressly provided otherwise in this Agreement and in the Transaction Documents. Except as expressly set forth in this Agreement and in the
Transaction Documents, Buyer has not relied and will not rely on, and Sellers have not made and are not liable for or bound by, any express or implied warranties, guarantees, statements, representations or information pertaining to the Property or
relating thereto (including specifically, without limitation, Property Documents or other information packages distributed with respect to the Property) made or furnished by Sellers or any broker, agent or third party representing or purporting to
represent Sellers, to whomever made or given, directly or indirectly, orally or in writing. Buyer represents that it is a knowledgeable, experienced and sophisticated purchaser of real estate and that, except as expressly set forth in this Agreement
and in the Transaction Documents, it is relying solely on its own expertise and that of Buyer’s consultants in purchasing the Property and shall make an independent verification of the accuracy of any documents and information provided by
Sellers. Buyer will conduct such inspections and investigations of the Property as Buyer deems necessary, including, but not limited to, the physical and environmental conditions thereof, and shall rely upon same. By failing to terminate this
Agreement prior to the expiration of the Inspection Period, Buyer acknowledges that Sellers have afforded Buyer a full opportunity to conduct such inspections and investigations of the Property as Buyer deemed necessary to satisfy itself as to the
condition of the Property and the existence or non-existence or curative action to be taken with respect to any Hazardous Materials on or discharged from the Property, and will rely solely upon same and not upon any information provided by or on
behalf of Sellers or their agents or employees with respect thereto, other than such representations, warranties and covenants of Sellers as are expressly set forth in this Agreement and/or the Transaction Documents. Buyer acknowledges that adverse
matters, including, but not limited to, adverse physical or construction defects or adverse environmental, health or safety conditions, may not have been revealed by Buyer’s inspections and investigations, and that such adverse matters are not
excluded from the scope of the disclaimers, releases and waivers set forth in this Article 11. 
 11.3 Seller Released from
Liability. Buyer acknowledges that it will have the opportunity to inspect the Property during the Inspection Period, and during such period, observe its physical characteristics and existing conditions and the opportunity to conduct such
investigations and studies on and of the Property and adjacent areas as Buyer deems necessary, and Buyer hereby FOREVER RELEASES AND DISCHARGES each Seller and the Seller Parties from all responsibility and liability, including without limitation,
liabilities under the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (42 U.S.C. § 9601 et seq.), as amended (“CERCLA”), regarding the condition, valuation, salability or utility of the
Property, and/or its suitability for any purpose whatsoever (including, but not limited to, with respect to the presence in the soil, air, structures and surface and subsurface waters, of Hazardous Materials or other materials or substances that
have been or may in the future be determined to be toxic, hazardous, undesirable or subject to regulation and that may need to be specially treated, handled and/or removed from the Property under current or future laws, regulations or guidelines,
and any structural and geologic conditions, subsurface soil and water conditions and solid and hazardous waste and Hazardous Materials on, under, adjacent to or otherwise affecting the Property). This release includes claims of which Buyer is
presently unaware or which Buyer does not presently suspect to exist which, if known by Buyer, would materially affect Buyer’s release of each Seller and the Seller Parties. 

  
 -22- 

 In this connection and to the extent permitted by law, Buyer hereby agrees, represents and
warrants that Buyer realizes and acknowledges that factual matters now unknown to it may have given or may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses and expenses which are presently
unknown, unanticipated and unsuspected, and Buyer further agrees, represents and warrants that the waivers and releases herein have been negotiated and agreed upon in light of that realization and that Buyer nevertheless hereby intends to release,
discharge and acquit each Seller and the Seller Parties from any such unknown causes of action, claims, demands, debts, controversies, damages, costs, losses and expenses. 

As between Buyer and Sellers only, Buyer further hereby WAIVES against each Seller (and by closing this transaction will be deemed to have
WAIVED against each Seller) any and all objections to or complaints regarding (including, but not limited to, federal, state and common law based actions, and any private right of action under, local, state and federal laws to which the Property is
or may be subject, including, but not limited to, CERCLA, and Resource Conservation and Recovery Act (42 U.S.C. § 6901 et seq.), as amended (“RCRA”)) the physical characteristics and any existing conditions of the
Property, including, without limitation, structural and geologic conditions, subsurface soil and water conditions and solid and hazardous waste and Hazardous Materials on, under, adjacent to or otherwise affecting the Property. Buyer further
acknowledges the risk of changes in applicable laws and regulations relating to past, present and future environmental conditions on the Property and the risk that adverse physical characteristics and conditions, including, without limitation, the
presence of Hazardous Materials or other contaminants, may not have been revealed by its investigation, and that such matters are not excluded from the scope of the disclaimers, releases and waivers set forth in this Article 11. 

Notwithstanding the foregoing provisions of this Section 11.3 to the contrary, such release of Sellers and the Seller Parties
contained herein shall not relieve Sellers of liability for any breach by Sellers of Sellers’ representations and warranties, covenants and indemnities contained in this Agreement which expressly survive Closing in accordance with the
provisions hereof or contained in the Transaction Documents. 
 11.4 “Hazardous Materials” Defined. For purposes hereof,
“Hazardous Materials” means “Hazardous Material,” “Hazardous Substance,” “Pollutant or Contaminant,” and “Petroleum” and “Natural Gas Liquids,” as those terms are defined or used in
Section 101 of CERCLA, and any other substances regulated because of their effect or potential effect on public health and the environment, including, without limitation, PCBs, lead paint, asbestos, urea formaldehyde, radioactive materials,
putrescible, and infectious materials. 
 11.5 Survival. The terms and conditions of this Article 11 shall expressly
survive the Closing, not merge with the provisions of any Transaction Documents and shall be incorporated into the Deeds. 
 Buyer
acknowledges and agrees that the disclaimers and other agreements set forth herein are an integral part of this Agreement and that Sellers would not have agreed to sell the Property to Buyer for the Purchase Price without the disclaimers and other
agreements set forth above. 
 ARTICLE 12 

MISCELLANEOUS 
 12.1
Parties Bound; Assignment. This Agreement, and the terms, covenants, and conditions contained herein, shall inure to the benefit of and be binding upon the heirs, personal representatives, successors, and assigns of each of the parties
hereto. However, Buyer may only assign its rights under this Agreement upon the following conditions: (i) each assignee of Buyer must be an affiliate of Buyer; (ii) all of the Earnest Money to be delivered by Buyer under this Agreement
must have been delivered in accordance herewith; (iii) the Inspection Period shall be deemed to have ended; (iv) each assignee of Buyer must assume in a written assignment and assumption agreement reasonably acceptable to Sellers all (and
not less than all) of the obligations of Buyer hereunder, but Buyer shall remain primarily liable for the performance of Buyer’s obligations; (v) a copy of the fully executed written assignment and assumption agreement(s) shall be
delivered to Sellers at least two (2) business days prior to the Closing Date; and (vi) there shall be no increase or “mark-up” of the Purchase Price. Sellers acknowledge that, subject to Section 12.18 and the
conditions set forth in the immediately preceding sentence, Buyer may assign its rights under this Agreement to one or more assignees. As used in clause (i) of this Section 12.1, an “affiliate of Buyer” shall mean
(a) any entity that is owned, controlled by or under common control with Buyer (a “Buyer Control Entity”), and (b) any entity in which one or more Buyer Controlled Entities directly or indirectly is the general partner (or
similar managing partner, member or manager) or owns more than fifty percent (50%) of the economic interests of such entity. 

  
 -23- 

 12.2 Headings. The article, section, paragraph and/or other headings of this Agreement are
for convenience only and in no way limit or enlarge the scope or meaning of the language hereof. 
 12.3 Invalidity and Waiver. If
any portion of this Agreement is held invalid or inoperative, then so far as is reasonable and possible the remainder of this Agreement shall be deemed valid and operative, and, to the greatest extent legally possible, effect shall be given to the
intent manifested by the portion held invalid or inoperative. The failure by either party to enforce against the other any term or provision of this Agreement shall not be deemed to be a waiver of such party’s right to enforce against the other
party the same or any other such term or provision in the future. 
 12.4 Governing Law. This Agreement shall, in all respects, be
governed, construed, applied, and enforced in accordance with the laws of the State of Texas. 
 12.5 Survival. The provisions of
this Agreement requiring the performance of any post-Closing obligations and the obligations of the parties not fully performed at the Closing which expressly survive the Closing, shall survive the Closing and shall not be deemed to be merged into
or waived by the Transaction Documents. 
 12.6 Entirety and Amendments. This Agreement embodies the entire agreement between the
parties and supersedes all prior agreements and understandings relating to the Property. This Agreement may be amended or supplemented only by an instrument in writing executed by the party against whom enforcement is sought. 

12.7 Time. Time is of the essence in the performance of this Agreement. 

12.8 Confidentiality. Neither Sellers nor Buyer shall make any public announcement or disclosure of any information related to this
Agreement to outside brokers or third parties, before or after the Closing, without the prior written specific consent of the other party; provided, however, that Buyer and Sellers may, subject in the case of Buyer to the provisions of
Section 4.6, make disclosure of this Agreement to, in the case of Buyer, its Permitted Outside Parties and, in the case of Sellers, their affiliates, partners, members, managers, officers, agents, attorneys, advisers, brokers,
consultants, employees, contractors, subcontractors, service providers, tenants and subtenants, in each case as is reasonably necessary to perform its obligations hereunder and/or as may be required under applicable laws, including without
limitation, any disclosure required by the United States Securities and Exchange Commission so long as the disclosing party uses reasonable efforts to limit the scope of any disclosure so required by law to the fullest extent permitted by applicable
law. Notwithstanding the foregoing, Buyer acknowledges and agrees that Sellers shall have the right, without requiring the consent or approval of Buyer, to issue a press release announcing the transaction promptly following the Closing, which press
release may include the name of the Buyer (or its assignee pursuant to Section 12.1 hereof, if applicable) and a description of Buyer (or such assignee) as an affiliate of Industrial Property Trust, Inc. but may not include the purchase price
for the Property. 
 12.9 Notices. All notices required or permitted under this Agreement shall be in writing and shall be served on
the parties at the addresses set forth in Section 1.3. Any such notices shall, unless otherwise provided herein, be given or served (i) by depositing the same in the United States mail, postage paid, certified and addressed to the
party to be notified, with return receipt requested, (ii) by overnight delivery using a nationally recognized overnight courier, (iii) by personal delivery, or (iv) by facsimile, evidenced by confirmed receipt. Notice deposited in the
mail in the manner hereinabove described shall be effective upon receipt or rejection of such notice. Notice given in any other manner shall be effective only if and when received (or rejected) by the party to be notified (or, in the case of
facsimile, upon confirmation of transmission) between the hours of 8:00 a.m. and 5:00 p.m. Dallas, Texas time of any business day with delivery made after such hours to be deemed received the following business day. A party’s address may be
changed by written notice to the other party; however, no notice of a change of address shall be effective until actual receipt of such notice. Copies of notices are for informational purposes only, and a failure to give or receive copies of any
notice shall not be deemed a failure to give notice. Notices given by counsel to the Buyer shall be deemed given by Buyer and notices given by counsel to the Sellers shall be deemed given by Sellers. 

12.10 Construction. The parties acknowledge that the parties and their counsel have reviewed and revised this Agreement and agree that
the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Agreement or any exhibits or amendments hereto. 

12.11 Calculation of Time Periods. Unless otherwise specified, in computing any period of time described herein, the day of the act or
event after which the designated period of time begins to run is not to be included and the last day of the period so computed is to be included, unless such last day is a Saturday, Sunday or legal holiday for national banks, in which event the
period shall run until the end of the next day which is neither a Saturday, Sunday, or legal holiday. The last day of any period of time described herein shall be deemed to end at 5:00 p.m. Dallas, Texas time. 

  
 -24- 

 12.12 Execution in Counterparts. This Agreement 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 Agreement. 
 12.13 No
Recordation. Buyer shall not record this Agreement or any memorandum hereof, or any affidavit pertaining hereto, and any such recordation by Buyer shall constitute a default hereunder by Buyer, whereupon Sellers shall have the remedies set forth
in Section 10.1. 
 12.14 Further Assurances. In addition to the acts and documents recited herein and contemplated to be
performed, executed and/or delivered by either party at Closing, each party agrees to perform, execute and deliver, but without any obligation to incur any additional liability or expense, any further deliveries and assurances as may be reasonably
necessary to consummate the transactions contemplated hereby or to perfect the conveyance, transfer and assignment of the Property to Buyer. 

12.15 Discharge of Obligations. The acceptance of Deeds by Buyer shall be deemed to be a full performance and discharge of every
representation and warranty made by Sellers herein and every agreement and obligation on the part of Sellers to be performed pursuant to this Agreement, except those which are herein specifically stated to survive Closing or are set forth in the
Transaction Documents. 
 12.16 No Third Party Beneficiary. The provisions of this Agreement and of the documents to be executed and
delivered at Closing are and will be for the benefit of Sellers and Buyer only and are not for the benefit of any third party, and accordingly, no third party shall have the right to enforce the provisions of this Agreement or of the documents to be
executed and delivered at Closing. 
 12.17 Information and Audit Cooperation. To the extent necessary to enable Buyer to comply with
any financial reporting requirements applicable to Buyer and upon at least three (3) days prior written notice to Sellers, within seventy-five (75) days after the Closing Date, Sellers shall reasonably cooperate (at no cost or liability to
Seller) and allow Buyer’s auditors to audit the trial balance related to the operation of the Property for the year prior to the Closing Date and for the portion of the calendar starting on January 1 through the Closing Date; provided,
however, that Sellers shall have no obligation to deliver any additional certificate, disclosure or similar letter to Buyer’s auditors. Other than any representation, warranty or covenant otherwise set forth in this Agreement or the Transaction
Documents, Sellers make no representations, warranties or covenants with respect to the trial balance or the books and records which may be reviewed in auditing the same, and Buyer releases and waives any liability or claims against Sellers related
to the trial balance or the books and records which may be reviewed and audited. 
 12.18 Multiple Properties. The transaction
contemplated under this Agreement is an “all or none” transaction and (i) any termination of this Agreement, including, without limitation, any termination due to a condition or matter relating to a single Property, shall constitute a
termination of this Agreement as to all of the Property and (ii) in no event shall Buyer be required to accept conveyance of the less than all of the Property or Sellers be required to convey less than all of the Property. 

[signatures begin on next page] 

  
 -25- 

 SIGNATURE PAGE TO AGREEMENT OF 

PURCHASE AND SALE 
 IN
WITNESS WHEREOF, the parties hereto have executed this Agreement on the date and year written below. 
  

			
	SELLERS:	  	 CRP OAKMONT FLOWER MOUND, L.L.C., a Delaware limited liability company

 
 By:   CRP Oakmont Industrial
Properties, L.L.C., a Delaware limited liability company Its Sole Member
  

By:   CRP Industrial Properties Member, L.L.C., a Delaware limited liability company Its Managing
Member
  
 By:      /s/ MICHAEL
GERSHENSON            

Name:      Michael
Gershenson                    

Title:      Vice
President                                    

 
 CRP OAKMONT GRAND PRAIRIE, L.L.C., a Delaware limited liability company

 
 By:   CRP Oakmont Industrial
Properties, L.L.C., a Delaware limited liability company Its Sole Member
  

By:   CRP Industrial Properties Member, L.L.C., a Delaware limited liability company Its Managing
Member
  
 By:      /s/ MICHAEL
GERSHENSON            

Name:      Michael
Gershenson                    

Title:      Vice
President                                    

 

  
 Signature Page 

			
	BUYER:	  	 IPT ACQUISITIONS LLC,
 a Delaware limited
liability company
  
 By:   IPT
Real Estate Holdco LLC, a Delaware limited liability company, its sole member
  

By:   Industrial Property Operating Partnership LP, a Delaware limited partnership, its sole member

 
 By:   Industrial Property Trust
Inc., a Maryland corporation, its general partner
  

By:      /s/ ANDREA KARP            

Name:      Andrea
Karp                    

Title:      SVP               
                         

  
 Signature PageEX-10.31

 Exhibit 10.31 

PURCHASE AND SALE AGREEMENT 

for 
 50 Route 46 E 

Totowa, New Jersey 
 between

 TOTOWA PROPERTY ASSOCIATES, LLC 

(as Seller) 
 and 

IPT ACQUISITIONS LLC 
 (as
Purchaser) 
 Dated: November 19, 2014 

 PURCHASE AND SALE AGREEMENT 

THIS PURCHASE AND SALE AGREEMENT (this “Agreement”) is made and entered into this 19th day of November, 2014, between TOTOWA PROPERTY ASSOCIATES, LLC, a Delaware limited liability company (“Seller”), and IPT ACQUISITIONS LLC, a Delaware limited liability
company (“Purchaser”). 
 RECITALS 

Seller has agreed to sell to Purchaser and Purchaser has agreed to purchase from Seller the real property commonly known as 50 Route 46 E,
Totowa, New Jersey upon the terms and conditions set forth in this Agreement. 
 NOW, THEREFORE, in consideration of the mutual promises
hereinafter set forth and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 

ARTICLE 1 
 Definitions 

Section 1.1 General Interpretive Principles. For purposes of this Agreement, except as otherwise expressly provided or unless the
context otherwise requires, (i) the words “herein,” “hereof,” “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular provision; and
(ii) the word “including” means “including, but not limited to.” 
 Section 1.2 Defined
Terms. 
 “Additional Rent” shall mean all reimbursements of Operating Expenses, reimbursements of Real Estate Taxes
and all other amounts and charges payable by Tenants to Seller, as landlord, under the Leases (other than Minimum Rent), but shall not include Security Deposits. 

“Assignable Contracts” shall mean all Contracts listed on the Contract Schedule other than the Contracts designated by
Purchaser for cancellation pursuant to Section 8.8. 
 “Bill of Sale” shall mean a bill of sale, substantially
in the form attached as Exhibit D, signed by Seller. 
 “Bob’s Lease” means that certain Lease, dated
September 25, 2014, between Seller, as landlord, and Bob’s Discount Furniture, LLC, as tenant, for the leased premises described therein and located at the Real Property. 

“Broker” shall mean CBRE. 

“Building” shall mean the building(s) on the Land. 

 “Business Days” shall mean any day of the week other than Saturday, Sunday or a
day on which banking institutions in the State of New Jersey are obligated or authorized by law to close. 
 “Cap Amount”
shall have the meaning set forth in Section 15.2(c). 
 “Casualty” shall mean a fire or other casualty. 

“Closing” shall have the meaning set forth in Section 13.1. 

“Closing Date” shall mean the date on which the purchase and sale of the Property contemplated by this Agreement are
consummated. 
 “Completion Evidence” shall mean, collectively, (i) a certification executed by an authorized
representative of Seller certifying to Purchaser certifying that the Roof Work (as such term is defined in Bob’s Lease) has been fully and finally completed, (ii) unconditional and final lien waivers from the roofing general contractor who
performed the Roof Work, (iii) an assignment, in writing, from Seller to Purchaser of any and all assignable warranties with respect to the Roof Work, (iv) copies of all permits and approvals related to or required in connection with the
Roof Work and any and all inspections relating thereto and (v) a certification executed by the roofing general contractor certifying to Purchaser that the Roof Work has been fully and finally completed. 

“Confidential Documents” shall mean (i) any reports or presentations prepared by Seller or any affiliate thereof to
consider the disposition of the Property, (ii) any proposals, letters of intent, draft contracts and similar documents prepared by or for other prospective purchasers of the Property, (iii) Seller’s internal memoranda, attorney-client
privileged documents or privileged communications or appraisals, (iv) except as required pursuant to Section 13.2, organizational documents of Seller, and any correspondence or internal communications between or among the partners
or members of Seller or any of their affiliates and (vi) Seller’s insurance policies and related documentation. 

“Contracts” shall mean all contracts and agreements between Seller and a third party or its managing agent and a third party
which provide for the management, operation, maintenance, leasing or repair of the Land, the Building or the Personal Property (including those in effect on the Effective Date and identified on the Contract Schedule and any new contract or agreement
entered into pursuant to Section 8.3). 
 “Contract Schedule” shall mean the information concerning Contracts
contained in Schedule 6.3(b). 
 “Deed” shall mean a deed substantially in the form attached as Exhibit C,
signed by Seller in proper form for recording. 

  
 -2- 

 “Deposit” shall mean the cash payment(s) made by Purchaser to Title Company
pursuant to Section 4.1 and the interest earned thereon. 
 “Due Diligence Period” shall mean the period
beginning on the Effective Date and ending at 5:00 p.m. (local time at the Real Property) on December 22, 2014. 
 “Effective
Date” shall mean the date on which this Agreement is fully executed and delivered by Seller and Purchaser. 

“Environmental Law” shall mean any federal, state or local law, ordinance, rule, regulation, requirement, guideline, code,
resolution, order or decree (including consent decrees and administrative orders) which regulates the use, generation, handling, storage, treatment, transportation, decontamination, clean-up, removal, encapsulation, enclosure, abatement or disposal
of any Hazardous Material, including the Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C. Section 9601, et seq., the Resource Conservation and Recovery Act, 42 U.S.C. Sections 6901,
et seq., the Toxic Substance Control Act, 15 U.S.C. Sections 2601, et seq., the Clean Water Act, 33 U.S.C. Sections 1251 et seq., the Hazardous Materials Transportation Act, 49 U.S.C.,
Section 5101, et seq., their state analogs (including, without limitation, the Industrial Site Recovery Act (“ISRA”), the New Jersey Spill Compensation and Control Act, and the rules and regulations promulgated by
the New Jersey Department of Environmental Protection pursuant thereto), and any other federal, state or local statute, law, ordinance, resolution, code, rule, regulation, order or decree regulating, relating to, or imposing liability or standards
of conduct concerning any Hazardous Material. 
 “Estoppel Certificate” shall have the meaning set forth in
Section 8.5. 
 “General Assignment” shall mean an Assignment of Licenses and Warranties in the form attached
as Exhibit F. 
 “Governmental Authorities” shall mean any municipal, county, state or federal governmental unit, or
any subdivision or agency thereof, having or acquiring jurisdiction over the Real Property or the management, operation, use or improvement thereof. 

“Hazardous Material” shall mean any flammable, explosive, radioactive or reactive materials, any asbestos (whether friable or
non-friable), any pollutants, contaminants or other hazardous, dangerous or toxic chemicals, materials or substances, any petroleum products or substances or compounds containing petroleum products, including gasoline, diesel fuel and oil, any
polychlorinated biphenyls or substances or compounds containing polychlorinated biphenyls, and any other material or substance defined as a “hazardous substance,” “hazardous material,” “hazardous
waste,” “toxic materials,” “contamination,” and/or “pollution” within the meaning of any Environmental Law. 

“Land” shall mean the parcel of land more particularly described on Exhibit A. 

  
 -3- 

 “Land Records” shall mean the public land records maintained by the applicable
Governmental Authorities for the jurisdiction in which the Land is located. 
 “Lease and Contract Assignment” shall mean
an Assignment and Assumption of Leases and Contracts in the form attached as Exhibit E, providing for the assignment of all Leases and Assignable Contracts. 

“Lease Schedule” shall mean the information concerning Tenants contained in Schedule 6.3(a). 

“Leases” shall mean all leases (other than subleases entered into by Tenants) and licenses, whether written or oral,
including all amendments, extensions, modifications and supplements thereto, pursuant to which the Tenant occupies any part of the Real Property, including those in effect on the Effective Date which are identified on the Lease Schedule and any new
leases, licenses or occupancy agreements entered into pursuant to Section 8.3. 
 “Legal Requirements” shall
mean all laws, ordinances, rules, regulations, orders and requirements of all Governmental Authorities relating to, or regulating, the ownership, use, operation, management, maintenance and repair of the Real Property. 

“Licenses” shall mean all licenses, authorizations, approvals and permits issued by Governmental Authorities relating to
Seller’s (and not any Tenant’s) use, operation, ownership or maintenance of the Real Property. 
 “Litigation
Schedule” shall mean the information concerning pending and threatened litigation contained in Schedule 6.2(b). 

“Mandatory Cure Item” shall mean a mortgage, deed of trust or other type of security instrument or other lien created by,
under or through the acts or agreements of Seller. 
 “Minimum Rent” shall mean all base rent, minimum rent or basic rent
payable in fixed installments and fixed amounts for stated periods by Tenants under their Leases. 
 “Non-Complying Tenant
Estoppel Certificate” shall have the meaning set forth in Section 8.5. 
 “Non-Foreign Affidavit”
shall mean an affidavit substantially in the form attached hereto as Exhibit G. 
 “Operating Expenses” shall mean
all costs, expenses, charges and fees relating to the ownership, management, operation, maintenance and repair of the Real Property, including electricity, gas, water and sewer charges and other public utilities, common area maintenance charges,
insurance premiums, vault charges, personal property taxes, Seller’s payments to project associations, and periodic charges payable under Assignable Contracts. 

  
 -4- 

 “Permitted Exceptions” shall mean (i) the lien of current Real Estate Taxes
not yet due and payable, (ii) the rights of Tenants under the Leases described in the Lease Schedule and any permitted additions, renewals and replacements thereof approved in writing by Purchaser or permitted under Section 8.3(b),
(iii) the additional exceptions (but not including the survey exception, the exceptions for unfiled mechanics liens, rights of parties in possession or Mandatory Cure Items, if any, encumbering the Real Property, or liens, encumbrances, adverse
claims or other matters, if any, created after the effective date of the Title Commitment but prior to the date title to the Real Property vests in Purchaser) contained in the Title Commitment which are approved, or deemed approved, by Purchaser
pursuant to Section 5.3, (iv) all matters disclosed (or that would be disclosed) by a current and accurate survey of the Real Property which are approved, or deemed approved, by Purchaser pursuant to Section 5.3,
(v) all matters arising from the actions of Purchaser or its agents, employees or contractors, and (vi) all additional exceptions to title which are approved, or deemed approved, by Purchaser pursuant to the terms of this Agreement. 

“Permitted Hazardous Materials” shall mean Hazardous Materials in ordinary quantities which are customarily used in the
operation, maintenance and repair of buildings and other improvements similar to the Building and which are stored and handled according to manufacturers’ standards and guidelines and prepackaged office supplies, cleaning materials and other
similar items sold for consumer use, in all such cases stored, handled and used in compliance with Environmental Laws. 

“Person” shall mean an individual, estate, trust, partnership, corporation, Governmental Authority or other legal entity.

 “Personal Property” shall mean all furniture, furnishings, fixtures, equipment, tools and other tangible personal
property of every kind and description owned by Seller and now located on the Land or in the Building and used in connection with the management, operation, maintenance and repair of the Real Property (but excluding items of movable trade fixtures
and personal property owned by the Tenant), subject, however, to depletions, replacements and additions in the ordinary course of business between the Effective Date and the Closing Date. 

“Plans” shall mean the plans, specifications and similar materials relating to the Building. 

“Property” shall have the meaning set forth in Section 2.1. 

“Proration Date” shall mean the Closing Date. 

“Purchase Price” shall mean the purchase price of the Property specified in Section 3.1. 

  
 -5- 

 “Real Estate Taxes” shall mean all taxes, assessments, vault rentals, and other
charges, if any, general, special or otherwise, levied or assessed upon or with respect to the ownership of and/or all other taxable interests in the Real Property imposed by any public or quasi-public authority having jurisdiction 

“Real Property” shall mean the Land and the Building. 

“Reimbursable Expenses” shall mean all or a portion of the Operating Expenses or Real Estate Taxes, or both, which are taken
into account under a Tenant’s Lease in determining the amount of Additional Rent payable by the Tenant. 
 “Rent”
shall mean, collectively, Minimum Rent and Additional Rent. 
 “Security Deposits” shall mean all security deposits
(including any interest accrued thereon in accordance with the terms of an applicable Lease) relating to space within the Real Property paid by Tenants to Seller. 

“Tenant Notice Letter” shall mean the notice substantially in the form attached as Exhibit H, executed by Seller and
Purchaser. 
 “Tenants” shall mean all Persons leasing or occupying space within the Real Property pursuant to a Lease.

 “Title Company” shall mean Fidelity National Title Insurance Company, whose address is 4643 S. Ulster Street, Suite 500,
Denver, CO 80237; Attention: Lindsey Mann. 
 “Utility Deposits” shall mean all deposits made by Seller with the Persons
providing water, sewer, gas, electricity, telephone and other public utilities to the Real Property. 
 “Warranties” shall
mean all warranties or guaranties in effect on the Closing Date that are assignable by Landlord from contractors, suppliers or manufacturers of personal property installed in or used in connection with the Real Property or any work performed or
improvements included as a part of the Real Property. 
 ARTICLE 2 

Purchase and Sale of the Property 

Section 2.1 Property to be Sold. On the Closing Date, and subject to the terms and conditions set forth in this Agreement, Seller
agrees to sell to Purchaser, and Purchaser agrees to purchase from Seller: (a) fee simple title to the Land; (b) fee simple title to the Building; (c) all right, title and interest of Seller, if any, in any land lying in the bed of
any street, road, avenue or alley, open or closed, adjacent to or abutting the Land, to the center line thereof; (d) all easements, covenants and other rights appurtenant to the Land and the Building; (e) all right, title and interest of
Seller in and to the Plans; (f) all 

  
 -6- 

 
right, title and interest of Seller in and to the proceeds of, or any award made for, a taking of all or any part of the Real Property by any Governmental Authority pursuant to the exercise of
its power of eminent domain; (g) all right, title and interest of Seller in and to the Personal Property; (h) all right, title and interest of Seller in and to the Leases and the Assignable Contracts; (i) all right, title and interest
of Seller in and to all transferable Licenses; and (j) all right, title and interest of Seller in and to the Warranties (collectively, the “Property”). 

ARTICLE 3 
 Purchase Price and
Terms of Payment 
 Section 3.1 Amount. The purchase price to be paid by Purchaser to Seller for the Property shall be
Twenty-Six Million Two Hundred Fifty Thousand Dollars ($26,250,000). At Closing, Purchaser shall pay to Seller an amount equal to the Purchase Price less the Deposit disbursed to Seller. 

Section 3.2 Payment. On the Closing Date, and subject to the terms and conditions of this Agreement, Purchaser shall pay the
Purchase Price to, or for the account of, Seller in the manner provided in Section 13.1. 
 ARTICLE 4 

Deposit 
 Section 4.1
Delivery of Deposit. Within two (2) Business Days after the execution and delivery of this Agreement by Seller and Purchaser, Purchaser shall deliver to Title Company by wire transfer a cash deposit in the amount of Five Hundred Thousand
Dollars ($500,000) to be held by Title Company as a good faith deposit under this Agreement. Unless this Agreement has previously been terminated, within two (2) Business Days after the expiration of the Due Diligence Period, Purchaser shall
deliver to Title Company an additional cash deposit in the amount of Five Hundred Thousand Dollars ($500,000) to be held by Title Company as an additional good faith deposit under this Agreement. 

Section 4.2 Deposit to Separate Account. Title Company shall, promptly after receipt, deposit the Deposit in an interest-bearing
account at a federally-insured bank mutually acceptable to Seller and Purchaser. The Deposit held by Title Company shall constitute trust funds in the hands of Title Company and shall not be commingled with Title Company’s separate funds or
with funds held by Title Company for the account of any other Person. 
 Section 4.3 Disposition of Deposit. If either Seller or
Purchaser makes a written demand on Title Company for the Deposit, Title Company shall give written notice of such demand to the other party. If Title Company does not receive a written objection from the other party to the proposed payment or
return of the Deposit within five (5) Business Days after the giving of such notice, Title Company shall pay the Deposit to the party making the demand. If Title Company receives a written objection from the other

  
 -7- 

 
party within the five (5) Business Day period, Title Company shall continue to hold the Deposit until otherwise directed by written instructions from Seller and Purchaser or until otherwise
directed by a court of competent jurisdiction. Notwithstanding the foregoing, in the event Purchaser timely terminates this Agreement pursuant to Section 5.4, Title Company shall return the Deposit to Purchaser immediately without the
requirement to notify Seller or wait for the expiration of the five (5) Business Day period. 
 Section 4.4 Interpleader.
In the event of a dispute concerning the disposition of the Deposit, Title Company shall have the right at any time to deposit any cash funds held by it under this Agreement with the clerk of the court of general jurisdiction of the city in which
the Property is located. Title Company shall give written notice of such deposit to Seller and Purchaser. Upon such deposit Title Company shall be relieved and discharged of all further obligations and responsibilities hereunder. 

Section 4.5 Title Company as Stakeholder. The parties acknowledge that Title Company is acting solely as a stakeholder at their
request and for their convenience; that Title Company shall not be deemed to be the agent of any of the parties; and that Title Company shall not be liable to any of the parties for any act or omission on its part unless taken or suffered in bad
faith, in willful disregard of this Agreement or involving gross negligence. Seller and Purchaser shall jointly and severally indemnify and hold Title Company harmless from and against all costs, claims, and expenses, including reasonable
attorneys’ fees, incurred in connection with the performance of Title Company’s duties hereunder, except with respect to actions or omissions taken or suffered by Title Company in bad faith, in willful disregard of this Agreement or
involving gross negligence on the part of Title Company. 
 Section 4.6 Title Company to Acknowledge Agreement. Title Company
shall acknowledge its agreement to the provisions of this Article 4, Article 13 and Article 15 by executing the joinder to this Agreement. 

ARTICLE 5 
 Inspection and Due
Diligence Period 
 Section 5.1 Physical Inspection of Real Property. 

(a) Purchaser and its employees, consultants, representatives and authorized agents shall have the right, at Purchaser’s risk, cost and
expense and subject to the rights of Tenants under the terms of their Leases, to enter the Real Property at any time or times before the Closing Date, during normal business hours and after reasonable advance notice, for purposes of making such
investigations and studies as Purchaser deems necessary or desirable to evaluate the Property. Purchaser shall provide Seller at least one (1) Business Days’ written notice in advance of Purchaser’s entry upon the Real Property.
Seller may, at its option, have an authorized representative of Seller present at any inspections of the Real Property. Purchaser shall not make or perform any borings or other physically invasive or destructive tests without Seller’s prior
written consent, which may be given or withheld in Seller’s sole discretion. In making its tests, inspections, investigations or studies, Purchaser shall not materially interfere with or disturb the use, occupancy or operation of the Building
by Seller or any of the Tenants. 

  
 -8- 

 (b) Purchaser shall not enter the Building until Purchaser has delivered to Seller a certificate
of insurance (in the form of ACORD 27) evidencing that Purchaser has obtained a policy of Commercial General Liability Insurance protecting Purchaser, as named insured, and Seller, as an additional insured, against liability for bodily injury, death
and property damage occurring in or about the Building, with such policy to afford protection to the limit of not less than $1,000,000 per occurrence, $2,000,000 in the aggregate, combined single limit for bodily injury, death and property damage.
Purchaser shall maintain the foregoing insurance at all times immediately prior to such entry through Closing or the earlier termination of this Agreement and thereafter with respect to any pre-Closing claim. 

(c) Purchaser shall not make any physical changes to the Real Property and, except for any matter arising from the mere discovery of any
pre-existing condition at the Property and except to the extent caused by Seller’s negligent act or omission, Purchaser shall indemnify and hold harmless Seller from and against (i) all physical damage to the Real Property owned by Seller
caused by its tests and investigations, (ii) all loss, liability or damage suffered or incurred by Seller arising out of or resulting from injury or death to individuals or damage to personal property caused by the tests and investigations
conducted by, or at the direction of, Purchaser, and (iii) all reasonable costs and expenses (including reasonable attorneys’ fees and disbursements) incurred by Seller in connection with any action, suit, proceeding, demand, assessment or
judgment incident to the foregoing, unless (in each case) such loss, liability or damage arises out of Seller’s negligence or willful misconduct. 

(d) Purchaser’s obligations to indemnify Seller pursuant to Section 5.1(c) shall survive the termination of this Agreement.

 Section 5.2 Inspection of Books and Records. 

(a) Beginning on the Effective Date and ending on the Closing Date, Purchaser shall have the right to inspect, and Seller shall make available
to Purchaser for inspection, copies of all documents and agreements in Seller’s possession or reasonable control pertaining to the ownership, use, operation, occupancy, maintenance, operation or leasing of the Real Property including the
records noted as “Access Documents” on Exhibit J (“Seller’s Records”); provided, however, Seller’s Records shall not include any Confidential Documents. Seller shall allow such inspections to be conducted
during normal business hours upon reasonable notice to Seller and shall make Seller’s Records pertaining to the physical condition of the Property and to daily operations (including, without limitation, Seller’s Record’s pertaining to
tenant correspondence, lease files, litigation, construction, zoning and governmental authorities) available to Purchaser at the Real Property and with Seller’s Records (if any) pertaining to accounting matters being at Seller’s offices in
Portland, Oregon. Purchaser understands and acknowledges that Seller’s Records will be provided, and all other documents and written materials 

  
 -9- 

 
delivered by Seller to Purchaser will be provided, without any representation or warranty, express or implied, as to the completeness or accuracy of the facts, presumptions, conclusions or other
matters contained therein, or Purchaser’s ability to rely thereon, except for the representations and warranties made by Seller in Article 6. Purchaser shall not, without reasonable prior notice given to Seller, contact any Tenant.
Seller shall be permitted to have a representative present during any discussions between Purchaser and any Tenant. 
 (b) To the extent in
Seller’s possession or reasonable control, Seller will deliver to Purchaser within three (3) Business Days after the Effective Date, copies of the documents noted as “Delivery Items” on Exhibit J. 

Section 5.3 Title Examination and Survey. 

(a) Title Commitment and Survey. Within ten (10) days after the Effective Date, Purchaser shall obtain and deliver to Seller a
current commitment for the issuance of an owner’s policy of title insurance for the Real Property (the “Title Commitment”) issued by Title Company. Purchaser acknowledges that Seller has delivered to Purchaser a copy of an
ALTA/ACSM Land Title Survey of the Real Property, last revised September 3, 2014, prepared by Mark Martins Engineering, LLC (the “Survey”). 

(b) Purchaser’s Title Objections. If Purchaser objects to any matter set forth in the Title Commitment and/or disclosed by the
Survey, Purchaser shall do so by notifying Seller in writing of such objection within twenty-two (22) days after the Effective Date (the “Title/Survey Deadline”). If Purchaser does not object to a particular matter set forth in
the Title Commitment and/or disclosed by the Survey on or before the Title/Survey Deadline (all such matters set forth in the Title Commitment and/or disclosed by the Survey on or before the Title/Survey Deadline, collectively, the “Initial
Matters”), Purchaser shall be conclusively deemed to have accepted Seller’s title to the Real Property subject to such Initial Matters. 

Within three (3) Business Days after receipt of Purchaser’s written notice of any objections to any Initial Matters, Seller shall either agree in
writing to cure such objections or shall notify Purchaser in writing that Seller is unable or unwilling to do so. If Seller timely notifies Purchaser that it is unable or unwilling to cure any Initial Matters to which Purchaser objects pursuant to
the immediately preceding sentence (collectively, the “Uncured Objection Matters”), Purchaser may terminate this Agreement at any time during the Due Diligence Period pursuant to Section 5.4. If Purchaser does not
terminate this Agreement pursuant to the preceding sentence, Purchaser shall be conclusively deemed to have waived any objections to the Uncured Objection Matters, the Uncured Objections Matters shall be deemed to be Permitted Exceptions and
Purchaser shall be obligated to purchase the Property in accordance with and subject to the terms of this Agreement without a reduction in the Purchase Price. To the extent Seller timely notifies Purchaser that Seller will cure a title and/or a
Survey objection, such objections shall not be a Permitted Exception and Seller shall be obligated to cure 

  
 -10- 

 
and remove the title or survey matter contained in such objection on or before the Closing Date. Notwithstanding anything contained herein, (i) in the event any update to the Title
Commitment and/or the Survey discloses matters in addition to the Initial Matters, such additional matters shall not be Permitted Exceptions unless approved by Purchaser in its sole discretion and (ii) Seller shall be obligated to discharge and
remove any and all Mandatory Cure Items on or before the Closing Date. 
 Section 5.4 Termination. Purchaser may elect to
terminate this Agreement at any time before the end of the Due Diligence Period by giving Seller written notification (the “Due Diligence Notice”) that Purchaser elects to terminate this Agreement. Purchaser shall have the absolute
right, in its sole and absolute discretion, to determine whether to give the Due Diligence Notice. If the Due Diligence Notice is timely given, Title Company shall promptly return the Deposit to Purchaser, and, except as otherwise provided in this
Agreement, no party shall have any further liability to any other party under this Agreement. If this Agreement is terminated pursuant to the provisions of this Section, Purchaser agrees, upon its receipt of a written request from Seller delivered
no later than thirty (30) days after the termination of this Agreement, (i) to deliver to Seller copies of all final, non-privileged surveys, written engineering and environmental reports prepared by third parties for Purchaser during the
Due Diligence Period and (ii) to destroy or return to Seller all Information in Purchaser’s possession which was previously delivered by Seller to Purchaser and to promptly confirm such destruction in a written notice delivered to Seller.
All third party reports and studies shall be delivered to Seller for information only without any representation or warranty as to their accuracy and completeness and without any right to rely thereon. If this Agreement is terminated by Purchaser in
accordance with this Section, then Seller and Purchaser shall each pay one-half (1/2) of any and all reasonable and customary title escrow and Purchaser shall pay all title cancellation and title search and commitment charges. 

ARTICLE 6 
 Representations and
Warranties of Seller 
 Seller makes the following representations and warranties to Purchaser: 

Section 6.1 Representations and Warranties Regarding Authority and Status. 

(a) Organization. Seller is a limited liability company duly and validly existing, in good standing, under the laws of the State of
Delaware and is qualified to business in the State of New Jersey. 
 (b) Authorization. Seller has the full right, power and
authority to execute and deliver this Agreement and has obtained all required approvals from its partners and/or its related funds to enter into this Agreement and to consummate the transaction contemplated hereby. 

(c) No Conflicting Agreements. The execution and delivery by Seller of, and the performance and compliance by Seller with the terms and
provisions of, this 

  
 -11- 

 
Agreement do not violate any of the terms, conditions or provisions of (i) Seller’s operating agreement, (ii) any judgment, order, injunction, decree, regulation or ruling of any
court or other Governmental Authority to which Seller and/or the Property is subject, or (iii) any agreement or contract to which Seller is a party or to which it or the Property is subject. 

(d) United States Person. Seller is a “United States person” within the meaning of Sections 1445(f)(3) and 7701(a)(30) of the
Internal Revenue Code of 1986, as amended. 
 (e) ERISA; Employees. Seller is not a “plan” nor a plan “fiduciary”
nor an entity holding “plan assets” (as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended, and its applicable regulations as issued by the Department of Labor and the Internal Revenue Service,
“ERISA”) nor an entity whose assets are deemed to be plan assets under ERISA. There are no employees of Seller employed in connection with the use, management, maintenance or operation of the Property whose employment will continue
after the Closing Date. There is no bargaining unit or union contract relating to any employees of Seller. 
 (f) OFAC. Neither
Seller nor any of its affiliates, nor any of their respective partners, or to Seller’s knowledge, any of their members, shareholders or other equity owners, and none of their respective employees, officers, directors, representatives or agents,
is a person or entity with whom U.S. persons or entities are restricted from doing business under regulations of the Office of Foreign Asset Control (“OFAC”) of the Department of the Treasury (including those named on OFAC’s
Specially Designated and Blocked Persons List) or under any statute, executive order (including the September 24, 2001, Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support
Terrorism), or other governmental action. 
 Section 6.2 Representations and Warranties Regarding Real Estate and Legal Matters.

 (a) Condemnation. Seller has not received from any Governmental Authority any notice of, and Seller has no actual knowledge of,
pending or contemplated condemnation proceedings affecting the Real Property, or any part thereof. 
 (b) Litigation. Except as set
forth on the Litigation Schedule, there are no investigations, actions, suits, proceedings or claims pending or, to the knowledge of Seller, threatened against or affecting Seller or the Real Property, at law or in equity or before or by any
federal, state, municipal or other governmental department, commission, board, agency or instrumentality. 
 (c) Environmental
Matters. Seller has delivered to Purchaser copies of the environmental reports described on Schedule 6.2(c) (whether one or more, the “Environmental Report”). To the actual knowledge of Seller (without independent
investigation or verification), except as disclosed in the Environmental Report, on the 

  
 -12- 

 
Effective Date (i) there are no Hazardous Materials (including, without limitation, Permitted Hazardous Materials) on the Real Property in violation of Legal Requirements, (ii) Seller
has not received any written notice that the Real Property is in violation of any Environmental Law that has not been cured, and (iii) neither Seller, the Property nor the Tenants are in violation of any requirements that may be applicable to
the Property under ISRA. 
 (d) Violations of Legal Requirements. Seller has not received written notice of any violations of Legal
Requirements, which violations have not been cured. 
 (e) Tax Appeals. There is no ongoing appeal with respect to taxes or special
assessments on the Property for any year, and any consultants engaged to perform work with respect to appeals of taxes or special assessments on the Property have been paid in full. 

Section 6.3 Representations and Warranties Regarding Leases, Contracts and Other Documents. 

(a) Leases. The Lease Schedule sets forth all Leases in effect on the Effective Date and the amount of any Security Deposit paid by the
Tenant under each Lease (noting whether such Security Deposit was made by cash or letter of credit). Seller has delivered or made available to Purchaser for Purchaser’s review a true and complete copy of each Lease. Seller has not received
written notice alleging, and has no actual knowledge of, any default of any of its material obligations under the Leases, which default(s) has(have) not been cured. Seller has not given any Tenant written notice alleging, and Seller has no actual
knowledge, that such Tenant is in default of any of its material obligations under its Lease, which default has not been cured. Except as expressly stated in the Lease Schedule, all leasing commissions and tenant improvement allowances have been
fully paid and satisfied by Seller with respect to the current term and the current demised premises under each Lease and no such commissions or tenant improvement allowances will become payable in the future with respect to the current term and the
current demised premises under each Lease; and except for the Roof Work, the tenant improvement work (if any) to be performed by the landlord under each Lease (collectively, “Tenant Improvement Work”) has been completed. Seller has
delivered to Purchaser or posted on Seller’s or on Broker’s website for the sale of the Property true and complete copies of all leasing commission agreements of which Seller has knowledge that will be binding on Purchaser after Closing in
connection with the Property. 
 (b) Contracts. The Contract Schedule sets forth all Contracts in effect on the Effective Date.
Seller has delivered or made available to Purchaser for Purchaser’s review complete copies of each of the Contracts. Seller has performed all obligations required to be performed by it and is not in material default under any of the Contracts.

 (c) Management Agreement. Immediately prior to Closing, there will be no contract or agreement in effect with any third party for
the management and/or 

  
 -13- 

 
landlord leasing representation for the Real Property (other than any agreement entered into by Purchaser) and no such contract or agreement shall be binding on the Real Property or Purchaser
from and after Closing. 
 Section 6.4 Representation and Warranty Regarding Brokers. Except for the Broker, no agent, broker or
other Person acting pursuant to express or implied authority of Seller is entitled to any commission or finder’s fee in connection with the transactions contemplated by this Agreement or will be entitled to make any claim against Seller for a
commission or finder’s fee. Seller has not dealt with any agent or broker in connection with the purchase of the Property other than the Broker. 

Section 6.5 Survival. All representations and warranties contained in this Article shall survive the Closing, except that the
representations and warranties in Section 6.2 and in Section 6.3 shall terminate nine (9) months after the Closing Date (the “Survival Period”) unless Purchaser initiates legal proceedings against Seller
for a breach thereof during the Survival Period. 
 Section 6.6 Limitations on Seller’s Liability for Representations and
Warranties. Seller’s liability for a misrepresentation or breach of warranty under this Article shall be subject to the following limitations: 

(a) Whenever a representation or warranty is made in this Agreement on the basis of the best knowledge or the actual knowledge of Seller or
words of similar import, or whether Seller has received written notice, such representation or warranty is made solely on the basis of the actual, as distinguished from implied, imputed or constructive, knowledge on the date that such representation
or warranty is made of Scott D. Hodson (“Seller’s Representative”). Purchaser agrees that no Seller’s Representative shall have any personal liability under this Agreement. As used in this Agreement, the terms
“actually known by Purchaser,” “to Purchaser’s actual knowledge,” “Purchaser obtains actual knowledge” or words of similar import shall mean any matter (i) disclosed by any written
document delivered by Seller to Purchaser or posted on Seller’s or on Broker’s website for the sale of the Property, (ii) disclosed by any written report prepared for Purchaser by any employee, agent or independent contractor of
Purchaser in connection with Purchaser’s due diligence or otherwise with respect to its acquisition of the Property, or (iii) actually known by Emily Santangelo, Dave Fazekas or Kyle O’Connor. 

(b) If, before the Closing, Purchaser obtains actual knowledge that any of Seller’s representations or warranties is inaccurate and
Purchaser’s nonetheless proceeds with the Closing, Seller shall not have any liability for any such matter regarding which Purchaser had actual knowledge before the Closing. 

  
 -14- 

 ARTICLE 7 

Representations and Warranties of Purchaser 

Section 7.1 General. Purchaser makes the following representations and warranties to Seller: 

(a) Organization. Purchaser is a limited liability company duly organized and validly existing under the laws of the State of Delaware.

 (b) Authorization. Purchaser is authorized to execute and deliver this Agreement and to consummate the transaction contemplated
hereby; provided, however, that Purchaser will require approval of its board of directors in order to consummate the acquisition of the Property, which approval Purchaser intends to seek prior to the end of the Due Diligence Period. If Purchaser
does not terminate this Agreement during the Due Diligence Period, Purchaser shall be deemed to have obtained the aforementioned approval of its board of directors and Purchaser shall have no right to extend the Due Diligence Period to obtain the
aforementioned approval of its board of directors. 
 (c) No Conflicting Agreements. The execution and delivery by Purchaser of, and
the performance and compliance by Purchaser with the terms and provisions of, this Agreement do not violate any of the terms, conditions or provisions of (i) Purchaser’s organizational documents, (ii) any judgment, order, injunction,
decree, regulation or ruling of any court or other Governmental Authority to which Purchaser is subject, or (iii) any agreement or contract to which Purchaser is a party or to which it is subject. 

(d) Brokers. Except for the Broker, no agent, broker or other Person acting pursuant to express or implied authority of Purchaser is
entitled to any commission or finder’s fee in connection with the transactions contemplated by this Agreement or will be entitled to make any claim against Seller for a commission or finder’s fee. Purchaser has not dealt with any agent or
broker in connection with the purchase of the Property other than the Broker. 
 (e) Investigations. Purchaser is a sophisticated
investor with substantial experience in purchasing and owning frontage retail and office/warehouse buildings similar to the Property. Purchaser has examined and inspected, and will have the right to examine and inspect, the physical nature and
condition of the Property, including structural, mechanical, plumbing, electrical, environmental and safety conditions. Without limitation on the representations, warranties and covenants of Seller contained herein or in the documents delivered by
Seller at Closing (the “Closing Documents”), Purchaser agrees to purchase the Property in its “as is, where is condition with all faults,” solely in reliance on its own tests, investigations and studies and not in reliance
on any representations or warranties made by Seller with regard to those matters except as expressly set forth in this Agreement and/or in the Closing Documents, and Purchaser agrees that the Purchase Price reflects and takes into account that the
Property is being sold in the aforementioned condition. Neither Seller, the Broker nor any other 

  
 -15- 

 
agent, partner, employee, or representative of Seller has made any representation or warranty regarding the physical condition of the Real Property, or any part thereof, or anything relating to
the subject matter of this Agreement, except as expressly set forth in this Agreement and/or in the Closing Documents; and Purchaser, in signing and delivering this Agreement, has not and will not rely upon any statement, information, or
representation to whomsoever made or given, whether to Purchaser or others, and whether directly or indirectly, verbally or in writing, made by any Person, except as expressly set forth in this Agreement and/or in the Closing Documents. 

(f) ERISA. Purchaser is not using the assets of an employee benefit plan as defined in Section 3(3) of ERISA and covered under
Title I, Part 4 of ERISA or Section 4975 of the Internal Revenue Code of 1986, as amended, in the performance or discharge of its obligations hereunder. 

(g) OFAC. To the actual knowledge of Emily Santangelo, Dave Fazekas and/or Kyle O’Connor (without any duty of inquiry), neither
Purchaser nor any of its affiliated entities, nor any of their respective partners, or to Purchaser’s knowledge, any of their members, shareholders or other equity owners, and none of their respective employees, officers, directors,
representatives or agents, is a person or entity with whom U.S. persons or entities are restricted from doing business under regulations of OFAC (including those named on OFAC’s Specially Designated and Blocked Persons List) or under any
statute, executive order (including the September 24, 2001, Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism), or other governmental action. 

Section 7.2 Survival. All representations and warranties made by Purchaser in Section 7.1 shall survive the Closing.

 ARTICLE 8 
 Additional
Obligations of Seller 
 Section 8.1 Possession. Seller shall deliver possession of the Real Property to Purchaser on the
Closing Date, subject only to the rights of Tenants under the Leases described in the Lease Schedule and any additions, renewals and replacements thereof entered into in accordance with this Agreement. 

Section 8.2 Affirmative Covenants. From and after the Effective Date and through the Closing Date, Seller will: 

(a) continue to manage and operate the Real Property in the ordinary course of Seller’s business and in a manner consistent with
Seller’s past practices with respect to the Real Property and shall maintain insurance on the Real Property as currently insured; 

  
 -16- 

 (b) give prompt notice to Purchaser in accordance with Section 16.5 of any Casualty
or eminent domain (or threat thereof) affecting the Property following the Effective Date; 
 (c) perform, observe and comply in all
material respects with the terms and provisions of all Leases and Contracts to be performed, observed or complied with by Seller as the landlord under such Leases and Contracts, as applicable; and 

(d) promptly notify Purchaser of any event or condition known to Seller that causes any representation or warranty of Seller to be untrue as
of the Closing Date. 
 Section 8.3 Negative Covenants. From and after the Effective Date and through the day that is ninety
(90) days after the Effective Date, Seller agrees that, without Purchaser’s written consent in each case, which consent may be granted or withheld in Purchaser’s sole discretion, Seller will not: 

(a) except as otherwise provided in Section 8.8, alter or amend any of the Assignable Contracts or become a party to any new
Contract unless the new Contract is terminable without penalty to the then-owner of the Building upon not more than thirty (30) days notice; 

(b) alter, amend, renew or extend any Lease in any respect, except to the extent required in connection with options exercised by a Tenant
pursuant to an option contained in such Tenant’s Lease; 
 (c) subject to the provisions of Section 8.3(b) to the contrary,
(i) enter into any lease, (ii) amend, modify, or cancel any Lease (or guaranty thereof) or (iii) grant any consents under, or waive any provisions of, any Lease, in each case without the prior written consent of Purchaser; 

(d) terminate any Lease, or accept a surrender of the leased premises thereunder; 

(e) transfer, assign or create any right or interest whatsoever in or to the Property, market the Property for sale, cause or permit any
encumbrance to be placed of record against the real Property or enter into any agreement to do any of the foregoing; and/or 
 (f) knowingly
take, or knowingly cause any action to be taken, which would result in any representations or warranties of Seller contained in Section 6.1 to be untrue in any material respect as of the Closing Date. 

Section 8.4 Leasing Commissions, Tenant Allowances and Tenant Improvement Work. Seller shall be responsible for, and pay on or
before the Closing Date (or provide Purchaser a credit thereof) all outstanding leasing commissions and 

  
 -17- 

 
tenant improvement allowances and the cost of any Tenant Improvement Work with respect to the current term and the current demised premises under each Lease (collectively, “Seller’s
Leasing Costs”). 
 Section 8.5 Tenant Estoppels. Seller will send the Estoppel Certificates to the Tenants within ten
(10) days after the Effective Date and will use commercially reasonable efforts to deliver to Purchaser, at least three (3) Business Days prior to Closing, an Estoppel Certificate certified to Purchaser from each Tenant in the applicable
form attached hereto as Exhibit B (an “Estoppel Certificate”). Purchaser shall have three (3) Business Days after Purchaser’s receipt of an Estoppel Certificate from a Tenant (but in any case, prior to Closing) to
disapprove the applicable Estoppel Certificate so received on the basis of such constituting a Non-Complying Estoppel Certificate (and the failure to timely do so shall constitute approval thereof). A “Non-Complying Tenant Estoppel
Certificate” means an Estoppel Certificate that (a) discloses economic or other terms of the applicable Lease that are inconsistent in a material and adverse manner with the terms of the Lease delivered to Purchaser by Seller pursuant
to this Agreement and of which Purchaser did not have actual knowledge prior to the expiration of the Due Diligence Period, (b) alleges (1) a monetary default of Seller under the applicable Lease, or (2) a material non-monetary
default of Seller under the applicable Lease, or (c) is dated more than forty (45) days prior to the Closing. Seller shall not be obligated to incur any third-party costs in connection therewith or to declare any default or event of
default or otherwise exercise any remedies against any Tenant on account of such Tenant’s failure to provide an Estoppel Certificate. Seller shall not be in default hereunder by reason of Seller’s failure to deliver one or more Estoppel
Certificates to Purchaser or by reason of Seller’s delivery of one or more Estoppel Certificates that are Non-Complying Tenant Estoppel Certificates. Seller shall provide Purchaser with a copy of each completed Estoppel Certificate and
Purchaser shall have two (2) Business Days after receipt of such copy to give Seller any comments on such Estoppel Certificate prior to Seller submitting same to the applicable Tenant, which comments shall be limited to the factual information
that Seller inserts in the applicable Estoppel Certificate. 
 Section 8.6 Expenses. Seller agrees to pay all expenses incurred
by it in connection with the negotiation, execution and performance of this Agreement and the transactions contemplated hereby, including the fees and expenses of its legal counsel. 

Section 8.7 Sales Commission. Seller agrees to pay the commissions payable to the Broker in accordance with a separate agreement
between Seller and Broker. Seller and Purchaser will execute such documents as the other might reasonably require in confirmation of the consent of both parties to CBRE’s dual representation of Seller and Purchaser in connection with the
transaction contemplated under this Agreement. 
 Section 8.8 Cancellation of Contracts. Seller shall terminate each Contract
described on the Contract Schedule and which is not designated for assumption by Purchaser in a written notice given to Seller at least ten (10) days prior to the expiration of the Due Diligence Period. The foregoing notwithstanding, Seller
shall have no obligation to terminate that certain Contract for exterior lighting at the Real Property between Seller and the local electric utility (PSEG). 

  
 -18- 

 Section 8.9 Roof Repairs. Not later than three (3) Business Days prior to the
Closing Date, Seller shall, at Seller’s expense, (i) perform or cause to be performed the Roof Work (as defined in the Bob’s Lease) in a good, workmanlike and lien-free fashion and in compliance with the terms and conditions of
Bob’s Lease and (ii) deliver to Purchaser the Completion Evidence. After Closing, Purchaser will have no claims against Seller with respect to the Roof Work and Purchaser’s sole remedy with respect to the Roof Work hereunder shall be
to enforce the Roof Work warranty received from the roofing general contractor and assigned by Seller to Purchaser at Closing. 

Section 8.10 Non-cash Tenant Deposits. With respect to any security deposit under any Lease that is in the form of a letter of
credit, Seller shall (i) deliver such letter of credit to Purchaser at Closing, together with any applicable transfer fee(s); (ii) execute and deliver at Closing such other instruments as the issuer of such letter of credit shall require
in order to assign Seller’s interest in the same to Purchaser; and (iii) cooperate with Purchaser in changing the named beneficiary entitled to the benefits of such letters of credit to Purchaser. 

Section 8.10 Compliance Certificate. Seller will use commercially reasonable efforts to obtain the Compliance Certificate prior to
Closing, but in no event shall Seller have any obligation to incur costs and expenses in excess of $25,000.00 in connection with Seller’s efforts to obtain the Compliance Certificate. 

ARTICLE 9 
 Additional
Obligations of Purchaser 
 Section 9.1 Expenses. Purchaser agrees to pay all expenses incurred by it in connection with the
negotiation, execution and performance of this Agreement and the transactions contemplated hereby, including the fees and expenses of its legal counsel. 

ARTICLE 10 
 Conditions
Precedent to Seller’s Obligations 
 The obligations of Seller to sell the Property to Purchaser and to perform the other covenants
and obligations to be performed by it on the Closing Date shall be subject to the following conditions (all or any of which may only be waived in writing by Seller): 

Section 10.1 Purchaser’s Representations and Warranties True. The representations and warranties made by Purchaser in
Article 7 shall be true and correct in all material respects on the Effective Date and shall be true and correct in all material respects on and as of the Closing Date with the same force and effect as though such representations and
warranties had been made on and as of such date. 

  
 -19- 

 Section 10.2 Purchaser’s Performance. Purchaser shall have performed in all
material respects all obligations required by this Agreement to be performed by it on or before the Closing Date. 
 ARTICLE 11 

Conditions Precedent to Purchaser’s Obligations 

The obligations of Purchaser to purchase the Property from Seller and to perform the other covenants and obligations to be performed by it on
the Closing Date shall be subject to the following conditions (all or any of which may only be waived in writing by Purchaser): 

Section 11.1 Seller’s Representations and Warranties True. The representations and warranties made by Seller in Article
6 shall be true and correct in all material respects on the Effective Date and shall be true and correct in all material respects on and as of the Closing Date with the same force and effect as if such representations and warranties had been
made on and as of such date. 
 Section 11.2 Seller’s Performance. Seller shall have performed in all material respects all
covenants and obligations required by this Agreement to be performed by it on or before the Closing Date. 
 Section 11.3 Title to
Real Property. The condition of Seller’s title to the Property shall be as set forth in Section 5.3 as evidenced by the Title Company issuance to Purchaser, at Closing, of a 2006 ALTA form of extended coverage owner’s
policy of title insurance insuring good, marketable, insurable title to the Real Property in Purchaser in the amount of the Purchase Price, subject only to the Permitted Exceptions. 

Section 11.4 Absence of Major Unrepaired Damage. There shall be no unrepaired damage by Casualty to any portion of the Real
Property the estimated cost of repair of which is more than two percent (2%) of the Purchase Price, as estimated in good faith by an architect mutually agreed upon by Seller and Purchaser. 

Section 11.5 Tenant Estoppels. Purchaser shall have received an Estoppel Certificate from each Tenant and such Estoppel
Certificate shall not be a Non-Complying Tenant Estoppel Certificate. 
 Section 11.6 No Lease Termination. No Tenant shall have
terminated, or given written notice of intent to terminate, its Lease pursuant to the terms of such Tenant’s Lease. 

Section 11.7 No Tenant Bankruptcy. No Tenant shall have filed for voluntary bankruptcy after the Effective Date or be subject to
an involuntary bankruptcy proceeding after the Effective Date. 
 Section 11.8 Compliance Certificate. To the extent required
under any applicable Legal Requirement, Seller shall have delivered to Purchaser (i) a certificate of 

  
 -20- 

 
continued occupancy (or similar) issued by the applicable and appropriate Governmental Agencies evidencing no outstanding code violations at the Real Property and (ii) evidence that the Real
Property, if required to be inspected prior to Closing in connection with such certificate of continued occupancy (or similar) and/or the transactions contemplated hereunder by any governmental agency, was so inspected, such certification or
evidence to be dated not earlier than thirty (30) days prior to the Closing Date (the “Compliance Certificate”). 

ARTICLE 12 
 Damage by Casualty
or Condemnation 
 Section 12.1 Effect of Unrepaired Damage. If (i) any portion of the Property is damaged by Casualty
after the Effective Date and is not repaired and restored substantially to its original condition before the Closing, and (ii) (a) the estimated cost of repairs is less than two percent (2%) of the Purchase Price and (b) no
Tenant has the right to terminate its Lease as a result of such Casualty, Purchaser shall be required to purchase the Property in accordance with the terms of this Agreement and, at Closing, Seller shall assign to Purchaser all insurance claims and
proceeds with respect thereto and shall pay or credit to Purchaser the amount of any deductible or uninsured loss with respect to such Casualty. If (x) the estimated cost of repairing such damage is two percent (2%) or more of the Purchase
Price, or (y) a Tenant has the right to terminate its Lease as a result of such Casualty, Purchaser shall, as its sole option, either (i) terminate this Agreement, in which case Title Company shall return the Deposit to Purchaser and no
party shall have any further liability or obligation to any other party under this Agreement, except as otherwise provided in this Agreement; or (ii) proceed with the Closing, in which case Seller shall assign to Purchaser all insurance claims
and proceeds (other than claims and proceeds for rent loss insurance for rents attributable to periods prior to the Closing Date) with respect to such damage and shall pay or credit to Purchaser the amount of any deductible or uninsured loss with
respect to such Casualty. Purchaser shall deliver to Seller written notice of Purchaser’s election within ten (10) Business Days after Seller informs Purchaser in writing of the repair costs (and the Closing Date shall be extended to
accommodate such ten (10) Business Day period, if necessary). If a Casualty to any part of the Property has occurred and Purchaser is required or elects to complete the purchase of the Property, Seller shall cooperate with Purchaser in
prosecuting all insurance claims assigned to Purchaser at Closing. 
 Section 12.2 Estimate of Costs. For purposes of this
Article, an architect selected by Seller and approved in writing by Purchaser (such approval not to be reasonably withheld, delayed or conditioned), shall determine the estimated cost to repair damage caused by Casualty. 

Section 12.3 Condemnation. If all or any portion of the Property is taken (or is threatened to be taken) under the power or threat
of eminent domain (temporarily or permanently) (a “Taking”), which would (a) result in a loss of value of the Property of two percent (2%) or more, (b) permit Tenant to terminate its Lease or (c) adversely affect
access to the Property in any material respect (any such Taking under the foregoing 

  
 -21- 

 
clauses (a), (b) or (c), a “Material Taking”), then Purchaser shall, as its sole option, either (i) terminate this Agreement, in which case Title Company shall return
the Deposit to Purchaser and no party shall have any further liability or obligation to any other party under this Agreement, except as otherwise provided in this Agreement; or (ii) proceed with the Closing, in which case Seller shall assign to
Purchaser all applicable condemnation awards (or payment in lieu thereof). Purchaser shall deliver to Seller written notice of Purchaser’s election within ten (10) Business Days after Seller informs Purchaser in writing of such eminent
domain (and the Closing Date shall be extended to accommodate such ten (10) Business Day period, if necessary). In the event of a Taking that is not a Material Taking, Purchaser and Seller shall proceed with the Closing, in which case Seller
shall assign to Purchaser all applicable condemnation awards. 
 ARTICLE 13 

Closing 
 Section 13.1
Closing Date and Escrow. The closing of the purchase and sale of the Property (the “Closing”) shall take place on January 8, 2015. Closing shall be consummated by delivery of the Closing documents via overnight courier
to the Title Company. On or before 2:00 p.m. (local time at the Real Property) on the Closing Date, Purchaser shall cause to be deposited with Title Company immediately available funds in an amount equal to the sum of all amounts owed by Purchaser
under this Agreement and as shown on the Closing Statement. Seller shall have the right to extend the date for Closing for a single period of fifteen (15) days if the condition to Closing set forth in Section 11.5 (regarding the delivery
of the Tenant Estoppel Certificates) is not satisfied. 
 Section 13.2 Seller’s Deliveries. At the Closing, Seller shall
deliver to Purchaser the following: 
 (a) the Deed, signed by Seller in recordable form; 

(b) the Bill of Sale, signed by Seller; 

(c) the Lease and Contract Assignment, signed by Seller; 

(d) the General Assignment, signed by Seller; 

(e) the Tenant Notice Letter, signed by Seller; 

(f) the Non-Foreign Affidavit, signed by Seller; 

(g) a certificate executed by Seller, dated as of the Closing Date, pursuant to which Seller shall have certified to Purchaser that
Seller’s representations and warranties in Article 6 are true and correct in all material respects as of the Closing Date as if such representations and warranties were made on and as of the Closing Date or, if and to the extent any of
such representations and warranties is not so true and correct, shall identify with reasonable particularity the nature and extent to which any such representation or warranty is not so true and correct; 

  
 -22- 

 (h) an Owner’s Affidavit in the form attached as Exhibit I, signed by Seller; 

(i) a “gap indemnity” affidavit and other affidavits and other instruments, including all organizational documents of Seller and
Seller’s general partner, and good standing certificates reasonably requested by Title Company, evidencing the power and authority of Seller to enter into this Agreement and to consummate the transactions contemplated by this Agreement; 

(j) the Closing Statement, signed by Seller; 

(k) an original or a copy of each Lease and Assignable Contract then in effect (to the extent not theretofore delivered to Purchaser); 

(l) all keys and entry codes to the Real Property which are in Seller’s possession; 

(m) originals of the Leases or Seller shall promptly send the original Leases to Purchaser via overnight courier on the Closing Date; 

(n) a schedule setting forth all delinquent Rent owed by Tenants, all prepayments of Rent and all Security Deposits (including letters of
credit), if any, held by Seller or its managing agent under the Leases; 
 (o) all other documents, instruments, agreements and certificates
required by this Agreement to be signed by Seller or delivered to Purchaser at the Closing; 
 (p) all required transfer and other tax
declarations and returns duly executed and acknowledged by Seller; 
 (q) any letter of credit security deposit delivered to Seller by a
Tenant in connection with such Tenant’s Lease; and 
 (r) if received by Seller, the original Estoppel Certificates (to the extent not
theretofore delivered to Purchaser). 
 Section 13.3 Purchaser’s Deliveries. At the Closing, Purchaser shall deliver to
Seller the following: 
 (a) the Lease and Contract Assignment, signed by Purchaser; 

(b) the Closing Statement, signed by Purchaser; 

  
 -23- 

 (c) the Tenant Notice Letter, signed by Purchaser; 

(d) a certificate executed by Purchaser, dated as of the Closing Date, pursuant to which Purchaser shall have certified to Seller that
Purchaser’s representations and warranties in Article 7 are true and correct in all material respects as of the date of such certificate as if such representations and warranties were made on and as of the date of such certificate or, if
and to the extent any of such representations and warranties is not so true and correct, shall identify with reasonable particularity the nature and extent to which any such representation or warranty is not so true and correct; 

(e) all other documents, instruments, agreements and certificates required by this Agreement to be signed by Purchaser or delivered to Seller
at the Closing; and 
 (f) all required transfer and other tax declarations and returns duly executed and acknowledged by Purchaser. 

ARTICLE 14 
 Closing Adjustments
and Prorations 
 Section 14.1 General. All rentals, revenues and other income generated by the Real Property and all
utilities, Real Estate Taxes, project association dues and other payments, maintenance charges and other operating expenses incurred in connection with the ownership, management and operation of the Real Property shall be paid or shall be prorated
between Seller and Purchaser in accordance with the provisions of this Article. For purposes of the prorations and adjustments to be made pursuant to this Article, Purchaser shall be deemed to own the Real Property and therefore be entitled to any
revenues and be responsible for any expenses for the entire day upon which the Closing occurs. Any apportionments and prorations which are not expressly provided for in this Article shall be made in accordance with the customary practice in the
jurisdiction where the Real Property is located. Seller shall prepare and the parties shall agree upon a schedule of adjustments (the “Closing Statement”) before the Proration Date. The prorations required by this Article shall be
subject to post-Closing adjustments as necessary to reflect later relevant information not available at the Closing and to correct any errors made at the Closing with respect to such prorations; provided, however, except as otherwise expressly
provided in this Article to the contrary, such prorations shall be deemed final and not subject to further post-Closing adjustments with respect to any adjustments not requested in writing by Purchaser or Seller within six (6) months after the
Closing. 
 Section 14.2 Rent. Rent shall be prorated at the Closing in accordance with the following provisions: 

(a) Minimum Rent. Subject to Section 14.2(c) (relating to delinquent Rent), Minimum Rent and Additional Rent shall be
prorated between Seller and 

  
 -24- 

 
Purchaser as of the Proration Date on a cash basis (except as set forth below to the contrary with respect to the Minimum Rent and Additional Rent that is payable for the month in which the
Proration Date occurs) to the extent actually collected by Seller and based on the actual number of days in the month during which the Proration Date occurs. Seller shall be entitled to all Minimum Rent and Additional Rent which accrues and is
collected for the period before the Proration Date and Purchaser shall be entitled to all Minimum Rent and Additional Rent which accrues and is collected for the period after the Proration Date. If, after the Closing Date, Seller receives Minimum
Rent and Additional Rent (other than delinquent Rent) from a Tenant for the month in which the Proration Date occurs or for any subsequent month, Seller shall pay such Minimum Rent and Additional Rent to Purchaser within five (5) Business Days
after receipt. 
 (b) [intentionally omitted] 

(c) Delinquent Rent. Delinquent rent shall be prorated between Seller and Purchaser as of the Proration Date but not until it is
collected after the Closing. All Rent (net of the costs of collection including reasonable attorneys’ fees and costs) received by Seller or Purchaser from and after the Closing Date shall be applied (X) first, to such Rent as is then due
(Y) then, to any unpaid Rent due with respect to the month in which the Closing occurred and (Z) then to other delinquent Rent, if any, in the inverse order or maturity (i.e., the most recent delinquency to be paid first). For a
period of six (6) months after the Closing Date, Purchaser will make commercially reasonable efforts to collect all Rents in the usual course of Purchaser’s operation of the Property, but Purchaser will not be obligated to institute any
lawsuit or incur any out-of-pocket expenses to collect delinquent Rents. For a period of six (6) months after the Closing Date, Purchaser shall not waive any delinquent Rent or modify or amend any Lease so as to reduce the delinquent Rent owed
by the Tenant for any period in which Seller is entitled to receive such delinquent Rent. Seller may attempt to collect any delinquent Rents owed Seller and may institute any lawsuit or collection procedures, but may not evict any Tenant or
institute any action to terminate any Lease. 
 Section 14.3 Taxes and Assessments. Real Estate Taxes assessed against the Real
Property and personal property taxes assessed against the Personal Property (“Personal Property Taxes”) shall be prorated between Seller and Purchaser on a cash basis to the extent actually paid by such parties (and not the
Tenant’s direct obligation under the Lease), based upon the actual current tax bill. If the most recent tax bill received by Seller before the Proration Date is not the actual current tax bill, then Seller and Purchaser shall initially prorate
the Real Estate Taxes at the Closing by applying 100% of the tax rate for the period covered by the most current available tax bill to the latest assessed valuation, and shall reprorate the Real Estate Taxes retroactively at the Final Closing
Adjustment so long as the actual current tax bill is then available. 
 Section 14.4 Operating Expenses. All Operating Expenses
shall be prorated between Seller and Purchaser as of the Proration Date on a cash basis, to the extent actually paid, based on the actual number of days in the month during which the Proration Date occurs. Seller shall be responsible for all
Operating Expenses attributable 

  
 -25- 

 
to the period before the Proration Date and Purchaser shall be responsible for all Operating Expenses attributable to the period on and after the Proration Date. To the extent commercially
reasonable and practicable, Seller and Purchaser shall obtain billings and meter readings as of the Business Day preceding the Proration Date to aid in the proration of charges for gas, electricity and other utility services which are not the direct
responsibility of Tenants. If billings or meter readings as of the Business Day preceding the Proration Date are obtained, adjustments of any costs, expenses, charges or fees shown thereon shall be made in accordance with such billings or meter
readings. If billings or meter readings as of the Business Day preceding the Proration Date are not available for any utility service, the charges therefor shall be adjusted at the Closing on the basis of the per diem charges for the most recent
prior period for which bills were issued and shall be further adjusted at the Final Closing Adjustment on the basis of the actual bills for the current period. 

Section 14.5 Seller’s Credit for Prepaid Expenses; Purchaser’s Credit for Unpaid Expenses. 

(a) At the Closing, Seller shall receive credit from Purchaser for all Operating Expenses, Real Estate Taxes, Personal Property Taxes and
other items of cost or expense being prorated under this Article which, as of the Closing Date, have been prepaid by Seller for a period on and after the Proration Date. 

(b) At the Closing, Purchaser shall receive credit from Seller for all Operating Expenses, Real Estate Taxes, Personal Property Taxes and
other items of cost or expense being prorated under this Article which are accrued, but unpaid, as of the Closing Date, but only to the extent such accrued, unpaid items relate to a period before the Closing Date. On and after the Closing Date,
Purchaser shall pay all amounts for which Purchaser receives credit under this Section. 
 Section 14.6 Cash Security Deposits.
Purchaser shall be credited with and Seller shall be charged with an amount equal to the sum of all cash Security Deposits being held by Seller or Seller’s managing agent under the Leases. 

Section 14.7 Utility Deposits. Seller shall be entitled to retain all Utility Deposits. If any of the Utility Deposits is not
refundable to Seller without replacement by Purchaser, Purchaser shall either: (i) deliver the requisite replacement Utility Deposit to the utility company on or before the Closing Date, or (ii) pay to Seller at the Closing the amount of
such Utility Deposit, against a good and sufficient transfer by Seller to Purchaser of all interest of Seller in the Utility Deposit. 

Section 14.8 Required Statements and Reports. 

(a) Exchange of Information. As soon as reasonably practical after the Closing Date, Seller shall furnish to Purchaser a statement,
certified to be true and correct by Seller, setting forth all Operating Expenses incurred by Seller during the period beginning on the first day of the calendar year in which the Proration Date occurs (the

  
 -26- 

 
“Calendar Year of Proration”) and ending on the day before the Proration Date and all reimbursements (if any) received during such period by Seller, as landlord, under the Leases
for each Tenant’s share of Reimbursable Expenses for the Calendar Year of Proration. As soon as reasonably practical after December 31 of the Calendar Year of Proration, Purchaser shall furnish to Seller a statement, certified to be true
and correct by Purchaser, setting forth all Operating Expenses incurred by Purchaser during the period beginning on the Proration Date and ending on the last day of the Calendar Year of Proration and all reimbursements received during such period by
Purchaser, as landlord, under the Leases for each Tenant’s share of Reimbursable Expenses for the Calendar Year of Proration. 
 (b)
Purchaser’s Obligation to Bill Tenants. For a period of six (6) months after Closing, Purchaser shall bill each Tenant, at the time and in the manner required by the Tenant’s Lease, for the amount (if any) of Reimbursable
Expenses for the Calendar Year of Proration (and, if not billed by Seller before the Closing Date, the amount (if any) of Reimbursable Expenses for the calendar year immediately preceding the Calendar Year of Proration) which the Tenant is obligated
to pay to Purchaser, as landlord under the Tenant’s Lease, and shall prepare and deliver to each Tenant, at Purchaser’s expense, all statements and other supporting information required by the Tenant’s Lease to substantiate the amount
billed. 
 Section 14.10 Final Closing Adjustment. No later than 180 days after the Closing, Seller and Purchaser shall make a
final adjustment to the prorations made pursuant to this Article (the “Final Closing Adjustment”). The Final Closing Adjustment shall be made in the following manner: all adjustments or prorations not made or not correctly made at
the Closing shall be made or remade (as applicable) as a part of the Final Closing Adjustment. Any net adjustment in favor of Purchaser shall be paid in cash or cash equivalent by Seller to Purchaser no later than twenty (20) days after the
Final Closing Adjustment. Any net adjustment in favor of Seller shall be paid in cash or cash equivalent by Purchaser to Seller no later than twenty (20) days after the Final Closing Adjustment. 

Section 14.11 Closing Costs and Transfer Taxes. Seller shall pay the cost of preparing and recording the Deed and the New Jersey
Realty Transfer Fee payable in connection with the recording of the Deed, but if the Property is subject to the so called “New Jersey Mansion Tax,” Purchaser will pay such “New Jersey Mansion Tax.” Purchaser shall pay all
expenses of examinations of title, title insurance premiums (including for all endorsements), the cost of any Survey update or revision requested by Purchaser, fees, charges and expenses of Title Company, the tax certificate and all other recording
fees and Closing expenses. All Closing costs other than those for which payment responsibility is expressly allocated to Seller or Purchaser in this Agreement, shall be paid by Seller or Purchaser in accordance with local custom. 

Section 14.12 Tenant Incentives and Leasing Commissions. Seller shall be responsible for, and indemnifies Purchaser against,
(i) all Seller’s Leasing Costs. The provisions of this Article shall survive the Closing. 

  
 -27- 

 ARTICLE 15 

Termination and Default 

Section 15.1 Reasons for Termination. This Agreement may be terminated upon written notice given to Title Company and the other
party by: 
 (a) Purchaser at the Closing, if any one or more of the conditions set forth in Article 11 is not satisfied prior to or
at Closing; or 
 (b) Seller at the Closing, if any one or more of the conditions set forth in Article 10 is not satisfied prior to
or at Closing. 
 Section 15.2 Termination by Purchaser. 

(a) If Purchaser terminates this Agreement pursuant to Section 15.1(a), this Agreement shall become null and void, Title Company
shall return the Deposit to Purchaser and no party shall have any further liability or obligation to any other party under this Agreement, except as otherwise provided in this Agreement; provided that in the event such termination by Purchaser is
the result of a default by Seller, Seller shall Seller shall also reimburse Purchaser for Purchaser’s actual out-of-pocket costs and expenses (including reasonable attorneys’ fees, costs and disbursements) related to the negotiation of
this Agreement and the transactions contemplated hereby and Purchaser’s due diligence, up to a maximum of $75,000.00 (in the aggregate). The provisions of this Section shall survive any termination of this Agreement. 

(b) If Seller defaults prior to Closing in performing any of the covenants or agreements to be performed by Seller under this Agreement,
Purchaser shall have the right, in lieu of terminating this Agreement pursuant to Section 15.1, to elect to permit this Agreement to remain in effect and to sue for specific performance (but not to seek or collect any damages caused by
Seller’s default, except as otherwise expressly provided herein). If Purchaser does not file suit for specific performance within thirty (30) days after the earlier of the scheduled Closing Date or Purchaser’s receipt of Seller’s
written demand (following Purchaser’s allegation that Seller has defaulted under this Agreement) that Purchaser elect to either terminate this Agreement pursuant to Section 15.1 or to file suit for specific performance, then
Purchaser shall be deemed to have elected to terminate this Agreement pursuant to Section 15.2(a). If Purchaser elects to pursue specific performance pursuant to this Section 15.2(b) but specific performance as contemplated
in this Section 15.2(b) is unavailable to Purchaser as a result of any action taken by Seller, Seller shall reimburse Purchaser for Purchaser’s direct and actual damages, including without limitation all of its out-of-pocket costs
and expenses (including reasonable attorneys’ fees, costs and disbursements) related to the negotiation of this Agreement and the transactions contemplated hereby and Purchaser’s due diligence, provided that in no event shall such
reimbursement exceed $75,000.00 (in the aggregate). 

  
 -28- 

 (c) Notwithstanding anything set forth in this Agreement to the contrary, Purchaser agrees that
if the Closing is consummated, Seller shall have no liability to Purchaser for any breach of Seller’s covenants, agreements, representations or warranties under this Agreement and/or under any other agreement, document, certificate or
instrument delivered by Seller to Purchaser unless the valid claims for all such breaches collectively aggregate more than $50,000, in which event the full amount of such valid claims shall be actionable up to the Cap Amount; and Purchaser agrees
that any recovery against Seller for any breach of Seller’s covenants, agreements, representations and warranties under this Agreement and/or under any other agreement, document, certificate or instrument delivered by Seller to Purchaser, or
under any law applicable to the Property or this transaction, shall be limited to Purchaser’s actual damages not in excess of $1,000,000 (the “Cap Amount”) in the aggregate and that in no event shall Purchaser be
entitled to seek or obtain, and Purchaser hereby waives any right to pursue a claim thereunder for, any other damages of any kind, including, without limitation, consequential, indirect or punitive damages. Notwithstanding anything contained herein
or in the Closing Documents, the Cap Amount shall in no event apply to claims made or Seller’s liabilities under Article 14 or Sections 17.8 or 17.9 of this Agreement or attorneys’ fees reimbursement provision
contained in the Closing Documents. The provisions of this Section shall survive the Closing or any termination or purported termination of this Agreement. 

Section 15.3 Termination by Seller. If Seller terminates this Agreement pursuant to Section 15.1(b) because of a
failure by Purchaser to consummate the purchase of the Property in breach of this Agreement, Title Company shall pay the Deposit to Seller as Seller’s sole and exclusive remedy and as liquidated damages and no party shall have any further
liability or obligation to any other party under this Agreement, except with respect to those provisions hereof that survive a termination hereof. SELLER AND PURCHASER ACKNOWLEDGE THAT THE DAMAGES TO SELLER IN THE EVENT OF FAILURE BY PURCHASER TO
CONSUMMATE THE PURCHASE OF THE PROPERTY IN A BREACH OF THIS AGREEMENT BY PURCHASER WOULD BE DIFFICULT OR IMPOSSIBLE TO DETERMINE, THAT THE AMOUNT OF THE DEPOSIT REPRESENTS THE PARTIES’ BEST AND MOST ACCURATE ESTIMATE OF THE DAMAGES THAT WOULD
BE SUFFERED BY SELLER IF THE TRANSACTION FAILS TO CLOSE AS A RESULT OF SUCH BREACH AND THAT SUCH ESTIMATE IS REASONABLE UNDER THE CIRCUMSTANCES EXISTING ON THE EFFECTIVE DATE AND UNDER THE CIRCUMSTANCES THAT SELLER AND PURCHASER REASONABLY
ANTICIPATE WOULD EXIST AT THE TIME OF SUCH BREACH. Seller hereby waives any right to pursue a claim for consequential, indirect or punitive damages under this Agreement and/or under any other agreement, document, certificate or instrument
delivered by Seller to Purchaser, or under any law applicable to the Property or this transaction. 

  
 -29- 

 ARTICLE 16 

Notices 
 16.1
Notices. 
 (a) Manner of Giving Notice. Each notice, request, demand, consent, approval or other communication (individually,
a “Notice” and collectively, the “Notices”) which Seller or Purchaser is required or permitted to give to the other party pursuant to this Agreement shall be in writing and shall be given by one of the follows
means: (1) personal delivery with proof of delivery thereof (any notice so delivered shall be deemed to have been received at the time so delivered), (2) nationally recognized overnight delivery service designating next Business Day
delivery (any notice so delivered shall be deemed to have been received on the next Business Day following receipt by the courier), or (3) facsimile or email (with a copy of such facsimile or email notice also being sent to the recipient in
accordance with clause (2) above within twenty-four (24) hours after such facsimile or email notice is sent) and any notice so delivered shall be deemed to have been received (i) on the date of transmission, if so transmitted before
5:30 p.m. (local time of the recipient) on a Business Day, or (ii) on the next Business Day, if so transmitted on or after 5:30 p.m. (local time of the recipient) on a Business Day or if transmitted on a day other than a Business Day),
addressed to the parties at their respective addresses designated pursuant to subsection (b). 
 (b) Addresses for Notices. All
notices shall be addressed to the parties at the following addresses: if to Seller, to Totowa Property Associates, LLC, c/o Pacific Realty Associates, L.P., 15350 S.W. Sequoia Parkway, Suite 300, Portland, Oregon 97224 Attention: Real Estate
Counsel, email: jeffo@pactrust.com; with a copy to Totowa Property Associates, LLC, c/o Pacific Realty Associates, L.P., 15350 S.W. Sequoia Parkway, Suite 300, Portland, Oregon 97224 Attention: Scott D. Hodson email: scotth@pactrust.com; and with a
copy to Fried Frank Harris Shriver & Jacobson LLP, 801 17th Street NW, Washington DC 20006 Attention: Franz R. Rassman email: franz.rassman@friedfrank.com; and if to Purchaser, to IPT
Acquisitions LLC, c/o Industrial Property Trust Inc., 518 17th Street, 17th Floor, Denver, Colorado 80202, Attention: Thomas McGonagle, email:
tmcgonagle@industrialpropertytrust.com; with a copy to Joshua J. Widoff, General Counsel, Industrial Property Trust Inc., 518 17th Street, 17th
Floor, Denver, Colorado 80202, email: jwidoff@dividendcapital.com and a copy to Jeremy T. Bunnow, Barack Ferrazzano Kirschbaum & Nagelberg LLP, 200 West Madison Street, Suite 3900, Chicago, Illinois 60606, email: jeremy.bunnow@bfkn.com.
Either party may, by notice given pursuant to this Section, change the person or persons and/or address or addresses, or designate an additional person or persons or an additional address or addresses, for its notices, but notice of a change of
address shall only be effective upon receipt. 
 (c) Notice Given by Counsel. All Notices that are required or permitted to be given
by either party to the other under this Agreement may be given by such party or its legal counsel. 

  
 -30- 

 ARTICLE 17 

Miscellaneous Provisions 

Section 17.1 Entire Agreement. This Agreement, together with the exhibits and schedules hereto, contains the entire agreement
between the parties relating to the purchase and sale of the Property with all prior negotiations between the parties being merged into this Agreement and there are no promises, agreements, conditions, undertakings, warranties or representations,
oral or written, express or implied, between them other than as herein set forth. No change or modification of this Agreement shall be valid unless the same is in writing and signed by the parties hereto. No waiver of any of the provisions of this
Agreement or any other agreement referred to herein, shall be valid unless in writing and signed by the party against whom it is sought to be enforced. 

Section 17.2 Counterparts. This Agreement may be executed in any number of counterparts and it shall not be necessary that each
party to this Agreement execute each counterpart. 
 Section 17.3 Benefit and Burden. All terms of this Agreement shall be
binding upon, and inure to the benefit of and be enforceable by, the respective personal representatives, heirs, successors and permitted assigns of the parties hereto. Neither party shall have the right to assign its rights under this Agreement to
any other Person. Notwithstanding the foregoing, provided that Purchaser gives Seller at least five (5) days prior written notice of the assignment or delegation and that such assignment or delegation does not relieve Purchaser of its
obligations hereunder, Purchaser may assign this Agreement or Purchaser’s rights hereunder, or delegate all or any portion of its duties or obligations to (a) any entity that is owned, controlled by or is under common control with
Purchaser (a “Purchaser Control Entity”), and (b) any entity in which one or more Purchaser Controlled Entities directly or indirectly is the general partner (or similar managing partner, member or manager) or owns more than
50% of the economic interests of such entity, or (c) any entity (or subsidiary thereof) that is advised by an affiliate of Industrial Property Advisors LLC. No assignment of Purchaser’s rights under this Agreement or delegation by
Purchaser of all or any portion of Purchaser’s duties or obligations under this Agreement shall relieve the original Purchaser of any of its obligations and/or liabilities under this Agreement. 

Section 17.4 Governing Law. This Agreement is intended to be performed in the jurisdiction in which the Real Property is located
and shall be construed and enforced in accordance with the laws of such jurisdiction. 
 Section 17.5 Confidentiality. At all
times prior to Closing, Purchaser shall hold all information concerning the Property (the “Information”) in confidence and shall not at any time disclose or permit the disclosure of the Information to any Person without
Seller’s prior written consent. Purchaser further agrees that, at all times prior to Closing, Purchaser shall use the Information only for purposes of evaluating the Property in connection with its purchase of the Property in accordance with
the terms of this Agreement. Notwithstanding the foregoing, (i) Purchaser may disclose the Information to 

  
 -31- 

 
its legal counsel, accountants, and actual and prospective lenders, investors and partners and other Persons who reasonably need to review the Information in connection with Purchaser’s
purchase of the Property in accordance with the terms of this Agreement, (ii) the provisions of this Section shall not apply to any portions of the Information that are available from public sources other than through the actions of Purchaser
or its agents, and (iii) Purchaser may disclose the Information to the extent that such disclosure is required by law or court order, including without limitation, any disclosure required by the United States Securities and Exchange Commission.
Neither Seller nor Purchaser shall make any public announcements concerning the sale of the Property pursuant to this Agreement without first obtaining the prior written consent of the other. The provisions of this Section shall survive the Closing
or termination of this Agreement. 
 Section 17.6 No Recording. Neither Purchaser nor its agents or representatives shall record
or file this Agreement or any notice or memorandum hereof in any public records, except in connection with a suit by Purchaser for specific performance following Seller’s default. 

Section 17.7 Partial Invalidity. If any term or provision of this Agreement or the application thereof to any persons or
circumstances shall, to any extent, be invalid or unenforceable, the remainder of this Agreement or the application of such term or provision to persons or circumstances other than those as to which it is held invalid or unenforceable shall not be
affected thereby, and each term and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. 

Section 17.8 Attorneys’ Fees. If the parties become engaged in any litigation or with each other in connection with this
Agreement, the prevailing party shall be reimbursed and indemnified by the party not prevailing in such litigation for all reasonable costs and expenses incurred by the prevailing party in enforcing or establishing its rights hereunder, including
court costs and reasonable attorneys’ fees. The prevailing party shall be determined by the court based upon an assessment of which party’s major arguments or positions taken in the proceedings could fairly be said to have prevailed over
the other party’s major arguments or positions on major disputed issues. The provisions of this Section shall survive the Closing or any termination of this Agreement. 

Section 17.9 Indemnification Against Broker’s Claims. Seller shall indemnify, hold harmless and defend Purchaser from and
against (i) any claim or claims for brokerage or other commissions arising out of any breach of Seller’s representation and warranty in Section 6.4 and/or Seller’s failure to pay the commissions payable to the Broker in
accordance with a separate agreement between Seller and Broker, and (ii) all reasonable costs and expenses (including reasonable attorney’s fees) incurred by Purchaser in connection with any action, suit, proceeding, demand, assessment or
judgment incident to the foregoing. Purchaser shall indemnify, hold harmless and defend Seller from and against (i) any claim or claims for brokerage or other commissions arising out of any breach of Purchaser’s representation and warranty
in Section 7.1(d), and (ii) all reasonable costs and expenses (including reasonable attorney’s fees) incurred 

  
 -32- 

 
by Seller in connection with any action, suit, proceeding, demand, assessment or judgment incident to the foregoing. The provisions of this Section shall survive the Closing or any termination of
this Agreement. 
 Section 17.10 Time of the Essence. Time is of the essence under this Agreement. Notwithstanding the foregoing
or any other term of this Agreement, if the expiration of any time period for payment, performance or the taking of an action under this Agreement falls on a day that is not a Business Day, then such time period shall be automatically extended to
the next Business Day. 
 Section 17.11 [intentionally omitted] 

Section 17.12 Exculpation. Any provision of this Agreement to the contrary notwithstanding, neither Seller nor Purchaser shall
have any right to seek recourse against the partners, members, officers, directors, shareholders, employees, agents (or any of them) of Seller or Purchaser, respectively, or any of their personal assets, for satisfaction of any obligation or award
hereunder. 
 Section 17.13 Like-Kind Exchange. Seller and Purchaser shall each have the right to structure the disposition or
acquisition of the Property, as the case may be, as a like-kind exchange under Internal Revenue Code Section 1031 at the exchanging party’s sole cost and expense. The other party shall reasonably cooperate therein, provided that such other
party shall incur no material costs, expenses or liabilities in connection with the exchanging party’s exchange. If either party uses a qualified intermediary to effectuate an exchange, any assignment of the rights or obligations of such party
hereunder shall not relieve, release or absolve such party of its obligations to the other party. The exchanging party shall indemnify, defend and hold harmless the other party from all liability in connection with the indemnifying party’s
exchange, and the indemnified party shall not be required to take title to or contract for the purchase of any other property. The provisions of this Section 17.13 shall survive the Closing. 

Section 17.14 WAIVER OF JURY TRIAL. SELLER AND PURCHASER WAIVE TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY
EITHER OF THEM AGAINST THE OTHER ON ANY MATTER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS AGREEMENT. 
 Section 17.15
Reporting. For the purpose of complying with any information reporting requirements or other rules and regulations of the Internal Revenue Service (“IRS”) that are or may become applicable as a result of or in
connection with the transaction contemplated by this Agreement, including, but not limited to, any requirements set forth in proposed Income Tax Regulation Section 1.6045-4 and any final or successor version thereof (collectively the
“IRS Reporting Requirements”), Seller and Purchaser hereby designate and appoint the Title Company to act as the “Reporting Person” (as that term is defined in the IRS Reporting Requirements) to be
responsible for complying with any IRS Reporting Requirements. 

  
 -33- 

 Section 17.16 Bulk Sales. Prior to Closing, Purchaser shall comply with the
requirements of the New Jersey Bulk Sales Transfer Act and Seller shall file an Asset Transfer Tax Declaration form to supplement any application by Purchaser to the New Jersey Division of Taxation (the “Division”). In
furtherance thereof, the parties agree (i) to timely and fully comply with N.J.S.A 54:50-38; (ii) Seller agrees to provide to Purchaser all documentation necessary for the completion of Form C-9600, Notification of Sale, Transfer or
Assignment in Bulk at least thirty (30) days prior to the anticipated date of Closing; (iii) Purchaser shall submit the completed Form C-9600 with a copy of this Agreement to the Division at least fifteen (15) days prior to the
anticipated date of Closing. In the event the Division notifies Purchaser of a state tax claim or of amounts to be escrowed such amounts shall be withheld from the Purchase Price and held and released by Title Company in accordance with
N.J.S.A. 54:50-38. The provisions of this Section shall survive the Closing. 
 Section 17.16 Information and Audit Cooperation.
To the extent necessary to enable Purchaser to comply with any financial reporting requirements applicable to Purchaser and upon at least three (3) Business Days prior written notice to Seller, within seventy-five (75) days after the
Closing Date, Seller shall reasonably cooperate (at no cost or liability to Seller) and allow Purchaser’s auditors to audit the trial balance related to the operation of the Property for the calendar year prior to the Closing Date and for the
portion of the calendar year starting on January 1 through the Closing Date. Other than any representation, warranty or covenant otherwise set forth in this Agreement or the documents delivered at Closing, Seller makes no representations,
warranties or covenants with respect to the trial balance or the books and records which may be reviewed in auditing the same, and Purchaser releases and waives any liability or claims against Seller related to the trial balance or the books and
records which may be reviewed and audited. The provisions of this Section shall survive the Closing. 
 [signatures follow] 

  
 -34- 

 IN WITNESS WHEREOF, the parties have duly executed this Agreement as of the day and year first
above stated. 
  

			
	SELLER
	
	 TOTOWA PROPERTY ASSOCIATES, LLC,
 a
Delaware limited liability company

		
	By:	 	PACIFIC REALTY ASSOCIATES, L.P.,
		 	a Delaware limited partnership
		 	Managing Member
		
	By:	 	PacTrust Realty Inc.,
		 	a Delaware corporation
		 	General Partner
		
	By:	 	 /s/ SCOTT D. HODSON

		 	Scott D. Hodson
		 	Vice President
	
	PURCHASER
	
	 IPT ACQUISITIONS LLC,
 a Delaware
limited liability company

		
	By:	 	IPT Real Estate Holdco LLC, a Delaware limited liability company, its sole member
		
	By:	 	Industrial Property Operating Partnership LP, a Delaware limited partnership, its sole member
		
	By:	 	Industrial Property Trust Inc., a Maryland corporation, its general partner
		
	By:	 	 /s/ DAVE FAZEKAS

	Name:	 	Dave Fazekas
	Title:	 	Managing Director

 The undersigned joins in the execution of this Agreement solely for the purpose of acknowledging the
undersigned’s agreement to fulfill Title Company’s obligations under Section 4, Section 13 and Section 15 of this Agreement. 
  

			
	Fidelity National Title Insurance Company
		
	By:	 	 /s/ LINDSEY MANN

	Name:	 	Lindsay Mann
	Title:	 	Commercial Escrow Officer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00239-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00239-of-00352.parquet"}]]