Document:

Environmental Indemnity Agreement

 EXHIBIT 10.13 
 ENVIRONMENTAL INDEMNITY AGREEMENT 
 THIS ENVIRONMENTAL INDEMNITY
AGREEMENT (this “Agreement”) is made as of December 21, 2011, by TNP SRT SUMMIT POINT, LLC, a Delaware limited liability company, having an address at 1900 Main Street, Suite 700, Irvine, California 92614
(“Borrower”) and TNP STRATEGIC RETAIL TRUST, INC., a Maryland corporation, having an address at 1900 Main Street, Suite 700, Irvine, California 92614 (“TNP Strategic”; Borrower and TNP Strategic, hereinafter
referred to, individually and collectively, as the context may require, as “Indemnitor”), in favor of JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, a banking association chartered under the laws of the United States of America,
having an address at 383 Madison Avenue, New York, New York 10179 (together with its successors and assigns, “Indemnitee”) and the other Indemnified Parties. 
 RECITALS: 
 A. Borrower is the owner of the Property (as defined in the
Loan Agreement (defined below)). 
 B. Indemnitee is prepared to make a loan (the “Loan”) to Borrower in the
principal amount of $12,500,000.00 pursuant to a Loan Agreement of even date herewith between Borrower and Indemnitee (as the same may hereafter be amended, restated, replaced, supplemented, renewed, extended or otherwise modified from time to time,
the “Loan Agreement”), which Loan shall be evidenced by that certain Promissory Note of even date herewith given by Borrower in favor of Indemnitee (as the same may hereafter be amended, restated, replaced, supplemented, renewed,
extended or otherwise modified from time to time, the “Note”) and secured by, among other things, that certain Deed to Secure Debt, Assignment of Leases and Rents and Security Agreement, dated as of the date hereof given by Borrower
to Indemnitee and encumbering the Property (as the same may hereafter be amended, restated, replaced, supplemented, renewed, extended or otherwise modified from time to time, the “Mortgage”). Capitalized terms not otherwise defined
herein shall have the meaning set forth in the Loan Agreement. 
 C. Indemnitee is unwilling to make the Loan unless Indemnitor
agrees to provide the indemnification, representations, warranties, covenants and other matters described in this Agreement for the benefit of the Indemnified Parties. 
 D. Indemnitor is entering into this Agreement to induce Indemnitee to make the Loan. 

 AGREEMENT: 
 NOW THEREFORE, in consideration of the premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Indemnitor hereby agrees for the benefit of
the Indemnified Parties as follows: 
 1. Indemnification. Indemnitor covenants and agrees, at its sole cost and
expense, to protect, defend, indemnify, release and hold the Indemnified Parties harmless from and against any and all Losses (defined below) imposed upon or incurred by or asserted against any Indemnified Parties and directly or indirectly arising
out of or in any way relating to any one or more of the following: (a) any presence of any Hazardous Substances in, on, above, or under the Property; (b) any past, present or threatened Release of Hazardous Substances in, on, above, under
or from the Property; (c) any activity by Indemnitor, any Person affiliated with Indemnitor, and any tenant or other user of the Property in connection with any actual, proposed or threatened use, treatment, storage, holding, existence,
disposition or other Release, generation, production, manufacturing, processing, refining, control, management, abatement, removal, handling, transfer or transportation to or from the Property of any Hazardous Substances at any time located in,
under, on or above the Property; (d) any activity by Indemnitor, any Person affiliated with Indemnitor, and any tenant or other user of the Property in connection with any actual or proposed Remediation of any Hazardous Substances at any time
located in, under, on or above the Property, whether or not such Remediation is voluntary or pursuant to court or administrative order, including but not limited to any removal, remedial or corrective action; (e) any past, present or threatened
non-compliance or violations of any Environmental Laws (or permits issued pursuant to any Environmental Law) in connection with the Property or operations thereon, including but not limited to any failure by Indemnitor, any Person affiliated with
Indemnitor, and any tenant or other user of the Property to comply with any order of any Governmental Authority in connection with any Environmental Laws; (f) the imposition, recording or filing or the threatened imposition, recording or filing
of any Environmental Lien encumbering the Property; (g) any administrative processes or proceedings or judicial proceedings in any way connected with any matter addressed in this Agreement; (h) any past, present or threatened injury to,
destruction of or loss of natural resources in any way connected with the Property, including but not limited to costs to investigate and assess such injury, destruction or loss; (i) any acts of Indemnitor, any Person affiliated with
Indemnitor, and any tenant or other user of the Property in arranging for disposal or treatment, or arranging with a transporter for transport for disposal or treatment, of Hazardous Substances at any facility or incineration vessel containing such
or similar Hazardous Substances; (j) any acts of Indemnitor, any Person affiliated with any Indemnitor, and any tenant or other user of the Property in accepting any Hazardous Substances for transport to disposal or treatment facilities,
incineration vessels or sites from which there is a Release, or a threatened Release of any Hazardous Substance which causes the incurrence of costs for Remediation; (k) any personal injury, wrongful death, or property or other damage arising
under any statutory or common law or tort law theory, including but not limited to damages assessed for private or public nuisance or for the conducting of an abnormally dangerous activity on or near the Property; and (l) any misrepresentation
or inaccuracy in any representation or warranty or material breach or failure to perform any covenants or other obligations pursuant to this Agreement, the Loan Agreement or the Mortgage. 

2. Duty to Defend and Attorneys and Other Fees and Expenses. Upon written request by any Indemnified Party, Indemnitor
shall defend same (if requested by any Indemnified Party, in the name of the Indemnified Party) by attorneys and other professionals approved by the Indemnified Parties. Notwithstanding the foregoing, any Indemnified Parties may, in their sole and
absolute discretion, engage their own attorneys and other professionals to defend or assist them, and, at the option of such Indemnified Parties, their attorneys shall control 

  
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the resolution of any claim or proceeding, providing that no compromise or settlement shall be entered without Indemnitor’s consent, which consent shall not be unreasonably withheld. Upon
demand, Indemnitor shall pay or, in the sole and absolute discretion of the Indemnified Parties, reimburse, the Indemnified Parties for the payment of reasonable fees and disbursements of attorneys, engineers, environmental consultants, laboratories
and other professionals in connection therewith. 
 3. Definitions. Capitalized terms used herein and not
specifically defined herein shall have the respective meanings ascribed to such terms in the Loan Agreement. As used in this Agreement, the following terms shall have the following meanings: 

The term “Legal Action” means any claim, suit or proceeding, whether administrative or judicial in nature. 

The term “Losses” includes any losses, damages, costs, fees, expenses, claims, suits, judgments, awards, liabilities
(including but not limited to strict liabilities), obligations, debts, diminutions in value, fines, penalties, charges, costs of Remediation (whether or not performed voluntarily), amounts paid in settlement, foreseeable and unforeseeable
consequential damages, litigation costs, attorneys’ fees, engineers’ fees, environmental consultants’ fees, and investigation costs (including but not limited to costs for sampling, testing and analysis of soil, water, air, building
materials, and other materials and substances whether solid, liquid or gas), of whatever kind or nature, and whether or not incurred in connection with any judicial or administrative proceedings, actions, claims, suits, judgments or awards.

 4. Unimpaired Liability. The liability of Indemnitor under this Agreement shall in no way be limited or
impaired by, and Indemnitor hereby consents to and agrees to be bound by, any amendment or modification of the provisions of the Note, the Loan Agreement, the Mortgage or any other Loan Document to or with Indemnitee by Indemnitor or any Person who
succeeds Indemnitor or any Person as owner of the Property. In addition, the liability of Indemnitor under this Agreement shall in no way be limited or impaired by (i) any extensions of time for performance required by the Note, the Loan
Agreement, the Mortgage or any of the other Loan Documents, (ii) any sale or transfer of all or part of the Property, (iii) except as provided herein, any exculpatory provision in the Note, the Loan Agreement, the Mortgage, or any of the
other Loan Documents limiting Indemnitee’s recourse to the Property or to any other security for the Note, or limiting Indemnitee’s rights to a deficiency judgment against Indemnitor, (iv) the accuracy or inaccuracy of the
representations and warranties made by Indemnitor under the Note, the Loan Agreement, the Mortgage or any of the other Loan Documents or herein, (v) the release of Indemnitor or any other Person from performance or observance of any of the
agreements, covenants, terms or conditions contained in any of the other Loan Documents by operation of law, Indemnitee’s voluntary act, or otherwise, (vi) the release or substitution in whole or in part of any security for the Loan, or
(vii) Indemnitee’s failure to record the Mortgage or file any UCC financing statements (or Indemnitee’s improper recording or filing of any thereof) or to otherwise perfect, protect, secure or insure any security interest or lien
given as security for the Loan; and, in any such case, whether with or without notice to Indemnitor and with or without consideration. 

  
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 5. Enforcement. The Indemnified Parties may enforce the obligations of
Indemnitor without first resorting to or exhausting any security or collateral or without first having recourse to the Note, the Loan Agreement, the Mortgage, or any other Loan Documents or any of the Property, through foreclosure proceedings or
otherwise, provided, however, that nothing herein shall inhibit or prevent Indemnitee from suing on the Note, foreclosing, or exercising any power of sale under, the Mortgage, or exercising any other rights and remedies thereunder. This Agreement is
not collateral or security for the Debt, unless Indemnitee expressly elects in writing to make this Agreement additional collateral or security for the Debt, which Indemnitee is entitled to do in its sole and absolute discretion. It is not necessary
for an Event of Default to have occurred for the Indemnified Parties to exercise their rights pursuant to this Agreement. Notwithstanding any provision of the Loan Agreement, the obligations pursuant to this Agreement are exceptions to any
non-recourse or exculpation provision of the Loan Agreement; Indemnitor is fully and personally liable for such obligations, and such liability is not limited to the original or amortized principal balance of the Loan or the value of the Property.

 6. Survival. The obligations and liabilities of Indemnitor under this Agreement shall fully survive
indefinitely notwithstanding any termination, satisfaction, assignment, entry of a judgment of foreclosure, exercise of any power of sale, or delivery of a deed in lieu of foreclosure of the Mortgage. Notwithstanding the provisions of this Agreement
to the contrary, the liabilities and obligations of Indemnitor hereunder shall not apply to the extent that Indemnitor can prove that such liabilities and obligations arose solely from Hazardous Substances that: (a) were not present on or a
threat to the Property prior to the date that Indemnitee or its nominee acquired title to the Property, whether by foreclosure, exercise of power of sale or otherwise and (b) were not the result of any act or negligence of Indemnitor or any of
Indemnitor’s affiliates, agents or contractors. 
 7. Interest. Any amounts payable to any Indemnified
Parties under this Agreement shall become immediately due and payable on demand and, if not paid within thirty (30) days of such demand therefor, shall bear interest at the lesser of (a) the Default Rate or (b) the maximum interest
rate which Indemnitor may by law pay or the Indemnified Parties may charge and collect, from the date payment was due, provided that the foregoing shall be subject to the provisions of Article 4 of the Note. 

8. Waivers. 
 (a) Indemnitor hereby waives (i) any right or claim of right to cause a marshaling of Indemnitor’s assets or to cause Indemnitee or other Indemnified Parties to proceed against any of the
security for the Loan before proceeding under this Agreement against Indemnitor; (ii) and relinquishes all rights and remedies accorded by applicable law to indemnitors or guarantors, except any rights of subrogation which Indemnitor may have,
provided that the indemnity provided for hereunder shall neither be contingent upon the existence of any such rights of subrogation nor subject to any claims or defenses whatsoever which may be asserted in connection with the enforcement or
attempted enforcement of such subrogation rights including, without limitation, any claim that such subrogation rights were abrogated by any acts of Indemnitee or other Indemnified Parties; (iii) the right to assert a counterclaim, other than a
mandatory or compulsory counterclaim, in any action or proceeding brought against or by Indemnitee or other Indemnified Parties; (iv) notice of acceptance hereof and of any action taken 

  
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or omitted in reliance hereon; (v) presentment for payment, demand of payment, protest or notice of nonpayment or failure to perform or observe, or other proof, or notice or demand; and
(vi) all homestead exemption rights against the obligations hereunder and the benefits of any statutes of limitations or repose. Notwithstanding anything to the contrary contained herein, Indemnitor hereby agrees to postpone the exercise of any
rights of subrogation with respect to any collateral securing the Loan until the Loan shall have been paid in full. 
 (b)
Indemnitor hereby waives, to the fullest extent permitted by law, the right to trial by jury in any action, proceeding or counterclaim, whether in contract, tort or otherwise, relating to this agreement or the other loan documents or any acts or
omissions of any indemnified parties in connection therewith. 
 9. Subrogation. Indemnitor shall take any and all
reasonable actions, including institution of legal action against third parties, necessary or appropriate to obtain reimbursement, payment or compensation from such Person responsible for the presence of any Hazardous Substances at, in, on, under or
near the Property or otherwise obligated by law to bear the cost. The Indemnified Parties shall be and hereby are subrogated to all of Indemnitor’s rights now or hereafter in such claims. 

10. Indemnitor’s Representations and Warranties. Indemnitor represents and warrants that: 

(a) if Indemnitor is a corporation, a limited liability company, a statutory trust or partnership, it has the full corporate/ limited
liability company/ partnership/ trust power and authority to execute and deliver this Agreement and to perform its obligations hereunder; the execution, delivery and performance of this Agreement by Indemnitor has been duly and validly authorized;
and all requisite corporate/ limited liability company/ partnership/ trust action has been taken by Indemnitor to make this Agreement valid and binding upon Indemnitor, enforceable in accordance with its terms; 

(b) if Indemnitor is a corporation, a limited liability company, a statutory trust or partnership, its execution of, and compliance with,
this Agreement is in the ordinary course of business of Indemnitor and will not result in the breach of any term or provision of the charter, by-laws, partnership, operating or trust agreement, or other governing instrument of Indemnitor or result
in the breach of any term or provision of, or conflict with or constitute a default under, or result in the acceleration of any obligation under, any agreement, indenture or loan or credit agreement or other instrument to which Indemnitor or the
Property is subject, or result in the violation of any law, rule, regulation, order, judgment or decree to which Indemnitor or the Property is subject; 
 (c) to the best of Indemnitor’s knowledge, there is no action, suit, proceeding or investigation pending or threatened against it which, either in any one instance or in the aggregate, may result in
any material adverse change in the business, operations, financial condition, properties or assets of Indemnitor, or in any material impairment of the right or ability of Indemnitor to carry on its business substantially as now conducted, or in any
material liability on the part of Indemnitor, or which would draw into question the validity of this Agreement or of any action taken or to be taken in connection with the obligations of Indemnitor contemplated herein, or which would be likely to
impair materially the ability of Indemnitor to perform under the terms of this Agreement; 

  
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 (d) it does not believe, nor does it have any reason or cause to believe, that it cannot
perform each and every covenant contained in this Agreement; 
 (e) to the best of Indemnitor’s knowledge, no approval,
authorization, order, license or consent of, or registration or filing with, any governmental authority or other person, and no approval, authorization or consent of any other party is required in connection with this Agreement; and 

(f) this Agreement constitutes a valid, legal and binding obligation of Indemnitor, enforceable against it in accordance with the terms
hereof. 
 11. No Waiver. No delay by any Indemnified Party in exercising any right, power or privilege under this
Agreement shall operate as a waiver of any such privilege, power or right. 
 12. Notice of Legal Actions. Each
party hereto shall, within five (5) business days of receipt thereof, give written notice to the other party hereto of (i) any notice, advice or other communication from any Governmental Authority or any source whatsoever with respect to
Hazardous Substances on, from or affecting the Property, and (ii) any legal action brought against such party or related to the Property, with respect to which Indemnitor may have liability under this Agreement. Such notice shall comply with
the provisions of Section 15 hereof. 
 13. Examination of Books and Records. At reasonable times and
upon reasonable notice, the Indemnified Parties and their accountants shall have the right to examine the records, books, management and other papers of Indemnitor pertaining to its financial condition or the income, expenses and operation of the
Property, at the Property or at the office regularly maintained by Indemnitor where the books and records are located. The Indemnified Parties and their accountants shall have the right to make copies and extracts from the foregoing records and
other papers. 
 14. Taxes. Indemnitor has filed all federal, state, county, municipal, and city income and other
tax returns required to have been filed by it and has paid all taxes and related liabilities which have become due pursuant to such returns or pursuant to any assessments received by it. Indemnitor has no knowledge of any basis for any additional
assessment in respect of any such taxes and related liabilities for prior years. 
 15. Notices. All notices or
other written communications hereunder shall be made in accordance with Section 10.6 of the Loan Agreement. Notices to Indemnitor shall be addressed as follows: 
 TNP Strategic Retail Trust, Inc. 
 1900 Main Street, Suite 700 

Irvine, California 92614 
 Attention: 
 Facsimile No.: (949) 252-0212 

  
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 With a copy to: 
 Hirschler Fleischer 
 2100 E. Cary Street 

Richmond, VA 23223 
 Attention: Thomas G. Voekler 
 Facsimile No.: (804) 644-0957 

16. Duplicate Originals; Counterparts. This Agreement may be executed in any number of duplicate originals and each
duplicate original shall be deemed to be an original. This Agreement may be executed in several counterparts, each of which counterparts shall be deemed an original instrument and all of which together shall constitute a single Agreement. The
failure of any party hereto to execute this Agreement, or any counterpart hereof, shall not relieve the other signatories from their obligations hereunder. 
 17. No Oral Change. This Agreement, and any provisions hereof, may not be modified, amended, waived, extended, changed, discharged or terminated orally or by any act or failure to act on the
part of Indemnitor or any Indemnified Party, but only by an agreement in writing signed by the party against whom enforcement of any modification, amendment, waiver, extension, change, discharge or termination is sought. 

18. Headings, Etc. The headings and captions of various paragraphs of this Agreement are for convenience of reference only
and are not to be construed as defining or limiting, in any way, the scope or intent of the provisions hereof. 
 19.
Number and Gender/Successors and Assigns. All pronouns and any variations thereof shall be deemed to refer to the masculine, feminine, neuter, singular or plural as the identity of the Person referred to may require. Without limiting
the effect of specific references in any provision of this Agreement, the term “Indemnitor” shall be deemed to refer to each and every Person comprising an Indemnitor from time to time, as the sense of a particular provision may
require, and to include the heirs, executors, administrators, legal representatives, successors and assigns of Indemnitor, all of whom shall be bound by the provisions of this Agreement, provided that no obligation of Indemnitor may be assigned
except with the written consent of Indemnitee. Each reference herein to Indemnitee shall be deemed to include its successors and assigns. This Agreement shall inure to the benefit of the Indemnified Parties and their respective successors and
assigns forever. 
 20. Release of Liability. Any one or more parties liable upon or in respect of this Agreement
may be released without affecting the liability of any party not so released. 
 21. Rights Cumulative. The rights
and remedies herein provided are cumulative and not exclusive of any rights or remedies which Indemnitee has under the Note, the Mortgage, the Loan Agreement or the other Loan Documents or would otherwise have at law or in equity. 

22. Inapplicable Provisions. If any term, condition or covenant of this Agreement shall be held to be invalid, illegal or
unenforceable in any respect, this Agreement shall be construed without such provision. 

  
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 23. Governing Law. 

(a) THIS AGREEMENT WAS NEGOTIATED IN THE STATE OF NEW YORK, AND MADE BY INDEMNITOR AND ACCEPTED BY INDEMNITEE IN THE STATE OF
NEW YORK, AND THE PROCEEDS OF THE NOTE SECURED HEREBY WERE DISBURSED FROM THE STATE OF NEW YORK, WHICH STATE THE PARTIES AGREE HAS A SUBSTANTIAL RELATIONSHIP TO THE PARTIES AND TO THE UNDERLYING TRANSACTION EMBODIED HEREBY, AND IN ALL RESPECTS,
INCLUDING, WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE, THIS AGREEMENT AND THE OBLIGATIONS ARISING HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW
YORK APPLICABLE TO CONTRACTS MADE AND PERFORMED IN SUCH STATE (WITHOUT REGARD TO PRINCIPLES OF CONFLICT LAWS) AND ANY APPLICABLE LAW OF THE UNITED STATES OF AMERICA, EXCEPT THAT AT ALL TIMES THE PROVISIONS FOR THE CREATION, PERFECTION, AND
ENFORCEMENT OF THE LIENS AND SECURITY INTERESTS CREATED PURSUANT HERETO AND PURSUANT TO THE OTHER LOAN DOCUMENTS WITH RESPECT TO THE PROPERTY SHALL BE GOVERNED BY AND CONSTRUED ACCORDING TO THE LAW OF THE STATE IN WHICH THE PROPERTY IS LOCATED, IT
BEING UNDERSTOOD THAT, TO THE FULLEST EXTENT PERMITTED BY THE LAW OF SUCH STATE, THE LAW OF THE STATE OF NEW YORK SHALL GOVERN THE CONSTRUCTION, VALIDITY AND ENFORCEABILITY OF ALL LOAN DOCUMENTS AND ALL OF THE OBLIGATIONS ARISING HEREUNDER OR
THEREUNDER. TO THE FULLEST EXTENT PERMITTED BY LAW, INDEMNITOR HEREBY UNCONDITIONALLY AND IRREVOCABLY WAIVES ANY CLAIM TO ASSERT THAT THE LAW OF ANY OTHER JURISDICTION GOVERNS THIS AGREEMENT AND THE NOTE, AND THIS AGREEMENT AND THE NOTE SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK PURSUANT TO SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW. 
 (b) ANY LEGAL SUIT, ACTION OR PROCEEDING AGAINST INDEMNITEE OR INDEMNITOR ARISING OUT OF OR RELATING TO THIS AGREEMENT MAY AT INDEMNITEE’S OPTION BE INSTITUTED IN ANY FEDERAL OR STATE COURT
IN THE CITY OF NEW YORK, COUNTY OF NEW YORK, PURSUANT TO SECTION 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, AND INDEMNITOR WAIVES ANY OBJECTIONS WHICH IT MAY NOW OR HEREAFTER HAVE BASED ON VENUE AND/OR FORUM NON CONVENIENS OF ANY SUCH
SUIT, ACTION OR PROCEEDING, AND INDEMNITOR HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF ANY SUCH COURT IN ANY SUIT, ACTION OR PROCEEDING. INDEMNITOR DOES HEREBY DESIGNATE AND APPOINT: 

 
  

 
  

 
  

  
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 AS ITS AUTHORIZED AGENT TO ACCEPT AND ACKNOWLEDGE ON ITS BEHALF SERVICE OF ANY AND ALL PROCESS WHICH MAY
BE SERVED IN ANY SUCH SUIT, ACTION OR PROCEEDING IN ANY FEDERAL OR STATE COURT IN NEW YORK, NEW YORK, AND AGREES THAT SERVICE OF PROCESS UPON SAID AGENT AT SAID ADDRESS AND WRITTEN NOTICE OF SAID SERVICE MAILED OR DELIVERED TO INDEMNITOR IN THE
MANNER PROVIDED HEREIN SHALL BE DEEMED IN EVERY RESPECT EFFECTIVE SERVICE OF PROCESS UPON INDEMNITOR IN ANY SUCH SUIT, ACTION OR PROCEEDING IN THE STATE OF NEW YORK. INDEMNITOR (I) SHALL GIVE PROMPT NOTICE TO INDEMNITEE OF ANY CHANGED ADDRESS
OF ITS AUTHORIZED AGENT HEREUNDER, (II) MAY AT ANY TIME AND FROM TIME TO TIME DESIGNATE A SUBSTITUTE AUTHORIZED AGENT WITH AN OFFICE IN NEW YORK, NEW YORK (WHICH SUBSTITUTE AGENT AND OFFICE SHALL BE DESIGNATED AS THE PERSON AND ADDRESS FOR
SERVICE OF PROCESS), AND (III) SHALL PROMPTLY DESIGNATE SUCH A SUBSTITUTE IF ITS AUTHORIZED AGENT CEASES TO HAVE AN OFFICE IN NEW YORK, NEW YORK OR IS DISSOLVED WITHOUT LEAVING A SUCCESSOR. 

24. Miscellaneous. 
 (a) Wherever pursuant to this Agreement (i) Indemnitee exercises any right given to it to approve or disapprove, (ii) any arrangement or term is to be satisfactory to Indemnitee, or
(iii) any other decision or determination is to be made by Indemnitee, the decision of Indemnitee to approve or disapprove, all decisions that arrangements or terms are satisfactory or not satisfactory and all other decisions and determinations
made by Indemnitee, shall be in the sole and absolute discretion of Indemnitee and shall be final and conclusive, except as may be otherwise expressly and specifically provided herein. 

(b) Wherever pursuant to this Agreement it is provided that Indemnitor pay any costs and expenses, such costs and expenses shall include,
but not be limited to, legal fees and disbursements of Indemnitee, whether retained firms, the reimbursements for the expenses of the in-house staff or otherwise. 
 (c) If Indemnitor consists of more than one person or party, the obligations and liabilities of each such person or party hereunder shall be joint and several. 

[NO FURTHER TEXT ON THIS PAGE] 

  
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 IN WITNESS WHEREOF, this Agreement has been executed by Indemnitor and is effective
as of the day and year first above written. 
  

			
	INDEMNITOR:
	
	TNP SRT SUMMIT POINT, LLC, a Delaware limited liability company
		
	By:	 	 /s/ James Wolford

		 	Name: James Wolford
		 	Title: CFO
	
	TNP STRATEGIC RETAIL TRUST, INC., a Maryland corporation
		
	By:	 	 /s/ James Wolford

		 	Name: James Wolford
		 	Title: CFOPURCHASE AND SALE AGREEMENT

 Exhibit 10.1 
 MACHO UNO RACING CORPORATION 
 PURCHASE AND SALE AGREEMENT

 THIS PURCHASE AND SALE AGREEMENT (“Agreement”) is made and entered into as of this 16th day of
December, 2011, by and between (i) Macho Uno Racing Corporation, a Delaware corporation with an address of 901 South Federal Highway, Hallandale Beach, Florida 33009 (“Purchaser”), and (ii) The Alpen House Racing ULC, an Alberta
unlimited liability company with an address of 14875 Bayview Avenue, Aurora, Ontario, Canada (“Seller”). 
 RECITALS

 A. Seller is the owner of 100% of the right, title and interest (the “Ownership Interests”) in the thoroughbred
horses listed on Attachment A (the “Horses”). 
 B. Seller has agreed to sell the Ownership Interests to Purchaser and
Purchaser does hereby agree to purchase the Ownership Interests in accordance with the terms and conditions of this Agreement. 

AGREEMENT 

NOW, THEREFORE, in consideration of the mutual premises and covenants contained herein, the parties agree as follows: 

1. Agreement of Purchase and Sale. In accordance with the terms and conditions of this agreement, Seller agrees to sell the
Ownership Interests to Purchaser and Purchaser agrees to Purchaser the Ownership Interests from Seller. 
 2. Purchase
Price 
 2.1 Consideration. Purchaser shall on the date hereof (the “Closing Date”) issue to
Seller a promissory note in the form of Attachment B in the sum of One Million Two Hundred Twenty-Four Thousand Dollars ($1,224,000 U.S.) (the “Promissory Note”) as the consideration for the Ownership Interests (the “Purchase
Price”). 
 2.2 Grant of Security Interest. To secure the payment and performance of Purchaser’s
obligations under the Promissory Note (the “Obligations”), Purchaser hereby pledges, assigns and grants to Seller a security interest in all of Purchaser’s right, title and interest in and to (i) the Ownership Interests and the
Horses, (ii) all fixtures and equipment; all farm products; all inventory; all goods; all accessions and accessories, attachments, parts, equipment and repairs now or hereafter attached or affixed to or used in connection with any goods; all
consumer goods; all documents and warehouse receipts, bills of lading and other documents of title; all accounts; all receivables; all instruments; all goodwill; all payment intangibles; all general intangibles; all rights under contracts and
agreements including, but not limited to policies of insurance and leases; all commercial tort claims, contract and other claims and choses in action; all deposit accounts, checking accounts, securities accounts and commodity accounts and all sums
on deposit, financial assets and other property credited thereto; all money; all securities and investment property; all letters of credit and letter-of-credit rights; all chattel paper and electronic chattel paper; all patents, copyrights,
trademarks, trade names, rights under license agreements and other intellectual property, including but not limited to applications related to any of the foregoing; and all books and records, including but not limited to all mail or electronic mail
addressed to Purchaser; (iii) all other tangible or intangible property; and (iv) all proceeds (including but not limited to proceeds of policies of insurance), products, substitutions and replacements of any of the assets or property
referred to in the preceding clauses (i) through (iii), in each case of the preceding clauses (i) through (iv) wherever located, whether now existing or hereafter arising, and whether such Purchaser now has or hereafter acquires any
such right, title or interest. Upon request by Seller, Purchaser will (A) grant to Seller a security interest in all commercial tort claims that Purchaser may have against any person or entity, and Purchaser shall promptly notify Seller if any
such commercial tort claim is acquired or arises at any time, and (B) arrange for the execution of an account control agreement in favor of Seller with respect to each of its deposit accounts and securities accounts. In addition, upon request
by Seller, Purchaser will arrange for the execution of a customary landlord access agreement with the landlord for each of the premises occupied by Seller. 
 Purchaser authorizes Seller or its representatives to file UCC-1 financing statements naming Purchaser as debtor and describing any or all of the collateral described above, and any other appropriate
documentation relating to the security interest granted hereunder. In addition to any other such filings, Purchaser specifically authorizes Seller to file financing statements in appropriate jurisdictions naming Purchaser as the debtor and
describing the collateral as “all assets”. From time to time at Seller’s request, Purchaser will execute and deliver such financing statements, continuation statements and other documents, and will do such other acts and things, as
Seller reasonably deems necessary to establish and maintain a valid and perfected first priority security interest in the collateral for the Obligations. Purchaser will pay or reimburse Seller for the reasonable costs and expenses of any of the
foregoing filings and actions. 

  
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 If any Event of Default (as defined in the Promissory Note) shall have occurred and be continuing, Seller
may exercise in respect of the collateral for the Obligations, in addition to all other rights and remedies provided for herein or otherwise available to it at law or in equity, all the rights and remedies on default under the applicable Uniform
Commercial Code or otherwise available at law or in equity to collect, enforce or satisfy any Obligations then owing. 
 3.
Representations and Warranties of Seller. Seller hereby represents, warrants and covenants to Purchaser as follows: 
 3.1 Binding Obligation. This Agreement is a valid and binding obligation of Seller, enforceable in accordance with its terms. 

3.2 No Violation. The execution, delivery and performance of the Agreement by Seller, and the sale of the Ownership
Interests, pursuant hereto, do not violate any laws, regulations, orders, decrees or agreements binding upon or affecting Seller or this transaction. 
 3.3 Clear Title. Seller owns good and marketable title in and to the Horses. 
 3.4 No Liens. There exists no lien, claim, charge, pledge, lease, hypothecation, security interest or other interest (collectively, “Claims”) in, or encumbrance on, against or in
connection with, the Horses, or any portion thereof. 
 3.5 No Agent Claims. There exists no claim of any
agent of Seller which could prevent Seller from transferring the Ownership Interests free and clear of all Claims. 
 3.6 Pedigree. The Horses are registered thoroughbreds and documents describing the pedigrees of the Horses shall be delivered by Seller to Purchaser at Closing. 

3.7 No Syndication. The Horses are not now nor have they ever been syndicated for stud duty or any other purpose.

 3.8 Acquisition by Seller. The Horses were acquired by Seller in July through November 2011 and have
been in Seller’s sole custody and control since such time. 
 3.9 Veterinary Examination. Prior to
their acquisition by Seller, the Horses were examined by a veterinarian chosen by Seller and the results of such examination were satisfactory to Seller’s veterinarian. 

3.10 Physical Examination. Prior to their acquisition by Seller, the Horses passed a physical examination by Seller
or its designee. 
 3.11 Insurance Evaluation. Prior to their acquisition by Seller, the Horses passed a
physical examination by Dr. Robert McMartin for insurability for all risks mortality, sickness and disease and were determined to be so insurable upon customary terms and conditions at standard rates. 

3.12 Other Warranties. Except as expressly set forth herein, SELLER MAKES NO REPRESENTATIONS OR
WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, WITH RESPECT TO THE HEALTH, PHYSICAL CONDITION OR SOUNDNESS OF THE HORSES, OR ANY OTHER MATTER AND, IN PARTICULAR, SELLER MAKES NO EXPRESS OR IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR
PURPOSE. 
 4. Representations and Warranties of Purchaser. Purchaser hereby warrants and represents to Seller that:

 4.1 Corporate Authority. Purchaser is a corporation duly organized, validly existing and in good
standing under the laws of the State of Delaware. Purchaser has undertaken all necessary corporate action to approve this transaction. 
 4.2 Binding Obligation. This Agreement is a valid and binding obligation of Purchaser, enforceable in accordance with its terms. 

4.3 No Violation. The execution, delivery and performance of the Agreement by Purchaser, and the purchase of the
Interest pursuant hereto, do not violate any laws, regulations, orders, decrees or agreements binding upon or affecting Purchaser or this transaction. 
 5. Conditions Precedent. The purchase and sale of the Horses and closing of this transaction shall be subject to the following conditions precedent: 

5.1 Deliveries of Seller. All documents required in this Agreement shall be executed by Seller and delivered to
Purchaser. 
 5.2 Representation and Warranties. The representations and warranties of Seller in
Section 3 and of Purchaser in Section 4 shall be true and correct as of the Closing Date. 

  
 2 

 6. Closing.  

6.1 Place and Date of Closing; Risk of Loss. The closing of the transaction contemplated hereby (the
“Closing”) will be held on the Closing Date at such time as the parties may mutually agree. Upon Seller’s delivery of the items set forth in Section 6.2 and Purchaser’s delivery of the items set forth in Section 6.3,
the Closing will be contemplated and Purchaser shall be deemed to have accepted delivery of the Ownership Interests in the Horses. Title to and all risks of loss with respect to the Ownership Interests will pass from Seller to Purchaser upon the
completion of the Closing in accordance with this Section 6. 
 6.2 Closing Deliveries of Seller. At the Closing,
Seller shall deliver to Purchaser: 
 (a) Bill of Sale. The Bill of Sale duly executed by Seller
substantially in the form of that attached hereto as Attachment C; and 
 (b) Other Documents. Such other
documents or instruments as Purchaser may reasonably request 
 6.3 Closing Deliveries of Purchaser. At
Closing, Purchaser shall deliver to Seller: 
 (a) Promissory Note. The Promissory Note as set forth in
Section 2.2; 
 (b) Bill of Sale. The Bill of Sale duly executed by Purchaser; and 

(c) Other Documents. Such other documents or instruments as Seller may reasonably request. 

7. Covenants and Additional Agreements.  
 7.1 Sales Tax. Should any sale and/or use tax be imposed on any part of this transaction, said tax shall be collected from the Purchaser and remitted by the Seller. It is also understood that
Purchaser will become responsible for any use, ad valorem, and other taxes on its ownership of the Ownership Interests in the Horses with respect to periods after delivery of the Ownership Interests to Purchaser. 

7.2 Commission. Should any person or entity be entitled to any commission as a result of the sale of the Horses
pursuant hereto, payment of such amount shall be the sole responsibility of the party whose actions gave rise to the obligation to pay such amount, and each party agrees to indemnify and hold harmless the other party from and against any loss,
damage, claim, cause of action, or expense (including without limitation reasonable attorneys’ fees) arising from the failure of such party to pay any such amount owing by such party under this Section 7.2. 

7.3 Specific Performance. Seller hereby agrees and confirms that the subject matter of this Agreement is unique.
Accordingly, in addition to any other remedies which Purchaser may have in law or in equity, Seller agrees that Purchaser shall have the right to have all obligations, undertakings, agreements, covenants and other provisions of this Agreement
specifically performed by Seller, and Purchaser shall have the right to obtain an order or decree of such specific performance in any court of the United States or of any state or other political subdivision having competent jurisdiction over
Seller. 
 7.4 Delivery of Horses. Delivery of the Horses shall be made as soon as practicable following
the Closing. Simultaneously with such delivery, Seller shall deliver to Purchaser a copy of the Jockey Club Certificate of Foal Registration for the Horses properly endorsed to reflect the transfer of the Ownership Interests to Purchaser.

 8. Notices. Any notice to be given under this Agreement shall be deemed given when delivered by hand, via email (if to
Purchaser, at 901 South Federal Highway, Hallandale Beach, Florida 33009, and if to Seller, at 14875 Bayview Avenue, Aurora, Ontario, Canada), or via telecopy (if to Purchaser, at [    ], and if to Seller, or 905-841-8193); or on
the third business day following the deposit of such notice in the U.S. mail, postage prepaid, first class, registered or certified mail, return receipt requested, addressed to the addresses set forth above. 

9. Miscellaneous.  
 9.1 Entire Agreement. This Agreement (including the documents and instruments referred to herein) constitutes the entire agreement between the parties with respect to the subject matter hereof and
supersedes all other prior agreements and understandings, both written and/or oral, between such parties. This Agreement shall be binding upon the respective successors and permitted assigns of the parties hereto and shall inure to the benefit of
and be enforceable by the parties and their respective successors and permitted assigns. This Agreement may not be modified except in a writing signed by both parties. This Agreement is not assignable by either party except with the written consent
of the other party. 

  
 3 

 9.2 Governing Law. This Agreement was entered into and delivered
while the Horses were in Florida and this Agreement and any and all other documents or instruments referred to herein shall be governed by and construed in accordance with the laws of the Florida. 

9.3 Counterparts and Facsimile Signatures. This Agreement and any and all other documents or instruments referred
to herein may be executed with counterpart signatures all of which taken together shall constitute an original without the necessity of all parties signing each documents. This Agreement may also be executed by signatures to facsimile or electronic
transmittal documents in lieu of an original or machine generated or copied document. 
 9.4 Further
Actions. Each party hereto agrees that such party will take or cause to be taken such further actions, and will execute, deliver and file, or cause to be executed, delivered and filed, such further documents, instruments and consents, as may be
necessary or as may be reasonably requested by any other party in order to effectuate fully the purposes, terms and conditions of this Agreement, the Bill of Sale and the Promissory Note, whether before, at or after the date hereof. 

9.5 Binding Arbitration. Any controversy or claim arising out of or relating to this Agreement, or the breach
thereof, shall be settled by arbitration pursuant to the Commercial Arbitration Rules of the American Arbitration Association, and judgment on the award rendered by the Arbitrator(s) shall be binding, conclusive and non-appealable and may be entered
in any court having jurisdiction thereof. 
 9.6 Attorney Fees. In the event of any action or proceeding
to declare or enforce the terms of the Agreement (including the documents and instruments referred to herein), the prevailing party shall be entitled to recover its reasonable attorneys’ fees and other costs, in addition to any other relief
that may be granted. 
 IN WITNESS WHEREOF, this Agreement has been signed by Seller and Purchaser as of the date first above
written. 
  

			
	 MACHO UNO RACING CORPORATION,
 Purchaser

		
	By:	 	/s/ Lyle Strachan
	Name:	 	Lyle Strachan
	Title:	 	Chief Financial Officer
	
	THE ALPEN HOUSE RACING ULC, Seller
		
	By:	 	/s/ Elfriede Stronach
	Name:	 	Elfriede Stronach
	Title:	 	Secretary/Treasurer

  
 4 

 ATTACHMENT A 

Horses 
  

							
	 Mare
	  	Sex	  	Purchase Price	 
	 Classic Threat
	  	C	  	$	75,000	  
	 Dashes N Dots
	  	F	  	$	37,000	  
	 Dattt Way
	  	C	  	$	85,000	  
	 Garden Music
	  	F	  	$	33,000	  
	 Go Ask Daisy
	  	C	  	$	55,000	  
	 Jin Mill
	  	F	  	$	24,000	  
	 Jo Zak
	  	F	  	$	117,000	  
	 Merry Me In Spring
	  	C	  	$	92,000	  
	 Mia Gatto
	  	F	  	$	27,000	  
	 Moody Broad
	  	F	  	$	20,000	  
	 Musical Factor
	  	F	  	$	50,000	  
	 On Fuego
	  	C	  	$	180,000	  
	 Prime Catch
	  	C	  	$	24,000	  
	 Pure Symmetry
	  	F	  	$	210,000	  
	 Rokeby Rosie
	  	C	  	$	65,000	  
	 Sahmkindawonderful
	  	C	  	$	40,000	  
	 Sparkling Honey
	  	F	  	$	15,000	  
	 Spinning Jolie
	  	C	  	$	32,000	  
	 Walts Wharf
	  	F	  	$	35,000	  
	 Woodland Sprite
	  	C	  	$	8,000	  
	 Total
	  		  	$	1,224,000	  
		  		  	  
	  
	 

  
 5 

 ATTACHMENT B 

Promissory Note 
 PROMISSORY NOTE 
  

					
	$            .00	 	 	December    , 2011	  

 For value received,
                     , a Delaware corporation having an address at 901 South Federal Highway, Hallandale Beach, Florida 33009 (“Borrower”),
promises to pay to the order of The Alpen House Racing ULC, an Alberta unlimited liability company, (“Lender”), at its office in Aurora, Ontario, Canada (or at such other location as Lender may direct), in lawful money of the United States
of America and in immediately available funds, on the Maturity Date (as hereafter defined), the principal sum of                     Dollars and No
Cents ($            .00), together with interest on the unpaid principal balance hereof at the rate of 0.19% per annum, compounded annually on each anniversary of the date hereof, from
and including the date hereof to but excluding the date of payment. As used herein, “Maturity Date” shall mean the earlier of (i) December 16, 2014 and (ii) the date of consummation of an offering of equity securities of Borrower
pursuant to which net proceeds from the sale of such equity securities to persons other than affiliates of Lender or Borrower equal or exceed the amount then due under this Note. This Note may be prepaid in whole or in part at any time without
penalty or premium. An “Event of Default” shall occur hereunder if the principal of and all accrued and unpaid interest on this Note shall not have been paid in full by 5:00 Eastern Standard Time on the Maturity Date. 

Borrower shall pay all costs of collection, including reasonable attorneys’ fees and legal expenses, if this Note is not paid when
due, whether or not legal proceedings are commenced. 
 Presentment for payment, demand, notice of dishonor and protest and any
and all other notices and defenses, including but not limited to set-off and counterclaim, are expressly waived. 
 This Note
shall be governed by and construed in accordance with the laws of the State of Florida without giving effect to conflicts of law provisions thereof. 
  

			
	 
	a Delaware corporation, as Borrower
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 6 

 ATTACHMENT C 

Bill of Sale 
 THIS BILL OF SALE is made and entered into as of this      day of December, 2011, by and between (i) Macho Uno Racing Corporation (“Purchaser”) and (ii) The Alpen
House Racing ULC (“Seller”). 
 W I T N E S S E T H: 

1. Sale of Horses. Subject and pursuant to the terms, provisions and conditions of that certain Purchase and Sale Agreement
between the parties hereto dated December     , 2011 (the “Purchase Agreement”), Seller, for valuable consideration as set forth therein, hereby grants, conveys, transfers, bargains and sells to Purchaser one hundred
percent (100%) of the ownership interests (the “Ownership Interests”) in and to the Horses listed on Attachment A hereto (the “Horses”). 
 2. Representations and Warranties of Seller. Seller represents and warrants to Purchaser: 
 (a) Binding Obligation. This Bill of Sale is a valid, binding obligation of Seller, enforceable in accordance with its terms and is delivered simultaneous with that certain Promissory Note of even
date herewith; 
 (b) No Violation. The execution, delivery and performance of the Bill of Sale by Seller,
and the sale of the Interest pursuant hereto, does not violate any laws, regulations, orders, decrees or agreements binding upon or affecting Seller or this transaction; 

(c) Clear Title. Seller owns good and marketable title in and to the Ownership Interests; 

(d) No liens. There are no liens, claims, charges, pledges, leases, hypothecations, security or other interest or
encumbrances on, against or in connection with the Horses; 
 (e) No Agent Claims. There are no claims of
any agents of Seller which prevents Seller from transferring the Interest free and clear of all claims; and 

(f) Pedigree. The description of the pedigrees of the Horses to be delivered by Seller pursuant to the Purchase
Agreement is true and correct. 
 (g) WARRANTIES. Except as expressly set forth herein or in the
Purchase Agreement, SELLER MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, WITH RESPECT TO THE HEALTH, PHYSICAL CONDITION OR SOUNDNESS OF THE HORSES, OR ANY OTHER MATTER AND, IN PARTICULAR, SELLER MAKES NO EXPRESS OR IMPLIED
WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. 
 3. Representations and Warranties of Purchaser.
Purchaser represents and warrants to Seller that the execution, delivery and performance of this Bill of Sale by Purchaser, and the purchase of the Ownership Interests pursuant hereto, do not violate any laws, regulations, orders, decrees or
agreements binding upon or affecting Purchaser or this transaction. 
 4. Governing Law. The Bill of Sale was entered
into and shall be governed by and construed in accordance with the laws of the State of Florida. 
 IN WITNESS WHEREOF, this
Bill of Sale has been signed by Seller and Purchaser as of the date first above written. 
  

			
	 MACHO UNO RACING CORPORATION,
 Purchaser

		
	By:	 	 
	Name:	 	
	Title:	 	
	
	THE ALPEN HOUSE RACING ULC, Seller
		
	By:	 	 
	Name:	 	
	 Title:
	 	

  
 7

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