Document:

Agreement of Purchase and Sale

 Exhibit 10.2 
 AGREEMENT OF PURCHASE AND SALE 
 THIS AGREEMENT OF PURCHASE AND SALE (“Agreement”)
is made and entered into this 22nd day of August 2006 (the “Contract Date”), by and between
CYBEX INTERNATIONAL, INC., a New York corporation (“Purchaser”), and FIRST INDUSTRIAL DEVELOPMENT SERVICES, INC., a Maryland corporation (“Seller”). This Agreement is entered into pursuant to that
certain Industrial Building Lease, dated as of August 22, 2006, by and between Seller, as landlord, and Purchaser as tenant (the “Lease”). All capitalized terms used, but not otherwise defined in this Agreement, have the
meanings given to them in the Lease. Purchaser has executed and delivered four (4) original counterparts of this Agreement, in conjunction with timely executing and delivering to Seller an Exercise Notice pursuant to the Lease. 
 1. Sale. Seller agrees to sell and convey to Purchaser, and Purchaser agrees to purchase from Seller, for the purchase price and on the
terms and conditions herein set forth, (a) all of that certain “Premises”, situated in the City of Owatonna, Minnesota, consisting of the land legally described on Exhibit A attached hereto (the
“Land”), and any and all rights, easements and interests appurtenant thereto including, but not limited to, any streets or other public ways adjacent to said Land; (b) the Improvements located on the Land, and (c) the
personal property, contract rights, warranties, guarantees and other items included within Exhibit B to the Lease relative to the construction of the Improvements (collectively, the “Property”). 
 2. Purchase Price. The purchase price to be paid to Seller by Purchaser for the Property shall be Fourteen Million Two Hundred Fifty
Thousand and No/100 Dollars ($14,250,000) (the “Purchase Price”), which Purchase Price shall be increased for any “Additional Project Costs” pursuant to and in the amount set forth in Section 1.7 of Exhibit B to the
Lease and, if known at the time of Closing, decreased by any savings relating to Allowances pursuant to and as described in Section 2.4 of the Lease. The entire Purchase Price shall be paid in cash at Closing (defined below), plus or minus
prorations, by federal wire transfer; provided however, that all of the Earnest Money (defined below), together with all interest earned thereon, shall also be applied to the Purchase Price at Closing. 
 3. Closing. The purchase and sale contemplated herein shall be consummated at a closing (“Closing”) to take place at the
offices of the Title Company (defined below), on the date that is thirty (30) days following the Commencement Date or on such date as is otherwise mutually agreed between the parties in writing (“Closing Date”). If Tenant has
not been delivered possession of the Property pursuant to the Lease, then Seller shall deliver possession of the Property to Purchaser at Closing. 
 4. Earnest Money. Not later than 5:00 pm. Central Time on the day that is four (4) business days after the Contract Date, Purchaser shall deposit, as its earnest money deposit, with the Title Company (the “Earnest
Money Escrowee”) a cash earnest money deposit in the amount of Five Hundred Thousand No/100 Dollars ($500,000.00) (such deposit together with any interest thereon, the “Earnest Money”), and except as expressly provided
herein, the Earnest Money shall be non-refundable to Purchaser. If Purchaser fails to timely deposit the Earnest Money, Seller, at its option, may terminate this Agreement, upon written notice to 

 Purchaser and Earnest Money Escrowee, in which event, neither party shall have any further liability under this
Agreement, except as otherwise expressly provided herein, and Purchaser shall have no right to exercise the Purchase Option, notwithstanding any provision in the Lease and the Lease shall continue in accordance with its terms. The Earnest Money
shall be held by the Earnest Money Escrowee pursuant to the terms of this Agreement or, if required by the Earnest Money Escrowee, pursuant to earnest money escrow instructions mutually agreed to by Seller and Purchaser in accordance with the
provisions of this Agreement. In the event of any conflict between this Agreement and any such earnest money escrow instructions, the provisions of this Agreement shall in all instances prevail and control. 
 5. Confidentiality. Purchaser agrees to maintain in confidence the information contained in this Agreement or the sale contemplated hereby
and the information and data furnished or made available by Seller to Purchaser, its agents and representatives in connection with Purchaser’s investigation of the Property and the transactions contemplated by the Agreement; provided, however,
Purchaser, its agents and representatives may disclose such information and data (a) to Purchaser’s accountants, attorneys, prospective lenders, investment bankers, underwriters, ratings agencies, partners, consultants and other advisors
in connection with the transactions contemplated by this Agreement (collectively “Representatives”) to the extent that such Representatives reasonably need to know such information and data in order to assist, and perform services
on behalf of Purchaser; (b) to the extent required by any applicable statute, law, regulation or governmental authority, including the SEC; and (c) in connection with any litigation that may arise between the parties in connection with the
transactions contemplated by this Agreement. 
 6. Title and Survey Matters. 
 6.1. Conveyance of Title. At Closing, Seller shall convey fee simple title to the Property to Purchaser pursuant to a special warranty deed,
(the “Deed”), subject to the following items (the “Permitted Exceptions”): (a) Taxes; (b) those matters and exceptions set forth on Exhibit B attached hereto; (c) those matters that may
be specifically approved, in writing, by Purchaser (in its reasonable and good faith determination); (d) matters arising out of any act of Purchaser or any or all of its affiliates, representatives, lenders, agents, contractors, employees or
invitees; (e) any lien, claim or encumbrance or other matter first arising from and after the Commencement Date, except those liens, claims, and encumbrances directly caused by any willful, intentional or negligent act or omission of any or all
of Seller or its affiliates, representatives, lenders, agents, contractors, or employees; (f) local, state and federal laws, ordinances, rules and regulations, including, but not limited to, zoning ordinances; and (g) matters that arise
pursuant to development of the Improvements pursuant to and in compliance with the Lease (excluding any mechanics’ liens) (collectively, the “Permitted Exceptions”). 
 6.2. Title Commitment. Purchaser acknowledges that Purchaser has received a commitment (“Title Commitment”) issued by
Chicago Title Insurance Company (the “Title Company”), with an effective date of June 29, 2006 for a leasehold and Owner’s title insurance policy in the full amount of the Purchase Price, showing fee simple title to the
Land in Purchaser, together with copies of all underlying title exceptions referred to therein. 
  

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 7. Seller’s Representations and Warranties. Seller hereby represents to Purchaser that
the following matters are true as of the Contract Date in all material respects: 
 7.1. Due Authorization. Seller is a
corporation duly formed, validly existing and in good standing under the laws of the State of Maryland. Seller has full power to execute, deliver and carry out the terms and provisions of this Agreement and each of the other agreements, instruments
and documents herein required to be made or delivered by Seller pursuant hereto, and has taken, or will take prior to Closing, all necessary action to authorize the execution, delivery and performance of this Agreement and such other agreements,
instruments and documents. The individuals executing this Agreement and all other agreements, instruments and documents herein required to be made or delivered by Seller pursuant hereto on behalf of Seller are and shall be duly authorized to sign
the same on Seller’s behalf and to bind Seller thereto. 
 7.2. Enforceability. This Agreement has been, and each and all
of the other agreements, instruments and documents herein required to be made by Seller pursuant hereto have been, or on the Closing Date will have been, executed by or on behalf of Seller, and when so executed, are and shall be legal, valid and
binding obligations of Seller enforceable against Seller in accordance with their respective terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium and other similar laws affecting the rights of creditors generally and, as
to enforceability, the general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law). 
 7.3. Violations. To Seller’s actual knowledge, Seller has received no written notice from any governmental agency alleging, any violation of any law, statute, ordinance or regulation relating to the Property. 

7.4. Condemnation. To Seller’s actual knowledge, Seller has received no written notice of any pending condemnation or eminent
domain proceedings relating to the Property. 
 7.5. Existing Contracts. Seller is not a party to any existing agreement,
contract or commitment to sell, lease, provide rights of first refusal or other similar rights of purchase or occupancy with respect to the Property other than this Agreement the documents, listed in the Title Commitment, the Lease, and the purchase
agreement with the City of Owatonna pursuant to which the Property is being sold to Seller, which contains a right for the City of Owatonna to repurchase the Property from Seller. Seller hereby notifies Purchaser that the Property, as of the date
hereof, is subject to that certain Farm Lease by and between the City of Owatonna and Dale Hartle, dated as of June 15, 2005, and that certain sublease pursuant to a letter agreement dated March 31, 2006 by and between Dale Hartle and
Monsanto Company, which Seller shall terminate or cause to be terminated prior to the Closing. 
 7.6. Litigation. To
Seller’s actual knowledge, Seller has not received written notice of any actions, suits, arbitrations or other proceedings materially adversely affecting the Property or the Seller as relates to the Property. 
  

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 7.7. Recapture Agreements. As of the date of this Agreement, except for the Development
Agreement by and between the Seller and the City of Owatonna (the “City”), Minnesota (as amended, modified, or supplemented, the “Development Agreement”) and the Tri-Party Agreement (the “Tri-Party
Agreement”) by and between the Seller, the City and the Purchaser, in relation to the Property, the Seller has not entered into any recapture agreement or other agreement providing for the payment to any governmental authority or to the
owner or developer of another parcel of property any sum of money as compensation for the development of the Property or infrastructure improvements to be made either on or off of the Property (collectively, “Recapture Agreements”).

 7.8. Off-site Items. Seller has no actual knowledge of the necessity for Off-Site Items required for the Project other than
the possibility of a turn lane in the streets near the Project. 
 7.9. Bankruptcy. Seller has not made a general assignment
for the benefit of creditors, filed any voluntary petition in bankruptcy or, to its actual knowledge, suffered the filing of an involuntary petition by its creditors. 
 7.10. Section 1445. Seller is not a “foreign person” as such term is defined under Section 1445 of the Internal Revenue Code. 
 7.11. Contracts. As of the Closing, the Property will not be bound by any agreement for the provision of goods or services from and after
the Closing that have been entered into by Seller. 
 7.1. Wells. Seller does not have knowledge of any “wells” on
the Property, within the meaning of Minn. Stat. §103I.005. 
 7.2. Sewers. For purposes of satisfying the requirements of
Minn. Stat. §115.55, Seller represents that there is no “individual sewer treatment system” (within the meaning of that statute) on or serving the Property. 
 7.3. Use of Property. To Seller’s knowledge, methamphetamine production has not occurred on the Property. 
 All references in this Agreement to “Seller’s knowledge,” “Seller’s actual knowledge” or words of similar import shall refer
only to the actual (as opposed to deemed, imputed or constructive) knowledge of Chris Willson, without inquiry and, notwithstanding any fact or circumstance to the contrary, shall not be construed to refer to the knowledge of any other person or
entity. Notwithstanding anything else herein to the contrary, Mr. Willson shall have no personal liability for any of the foregoing representations and warranties. Seller’s representations and warranties set forth herein shall survive the
Closing for a period of twelve (12) months. It shall be a condition precedent to Purchaser’s obligation to proceed to Closing that all of the Seller’s representations and warranties in Section 7 are true and correct in all
material respects as of the Closing Date (the “Representation Condition”). Notwithstanding anything contained herein to the contrary, if any Seller representation or warranty is untrue or inaccurate in any material respect and
Purchaser becomes aware of such untruth or inaccuracy prior to Closing, Purchaser may elect, in its sole discretion and as its sole remedy hereunder, at 
  

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 law or in equity, either to (i) terminate this Agreement by delivery of written notice to Seller on or prior to
Closing, whereupon the Earnest Money shall be promptly returned to Purchaser and neither party shall have any further liability hereunder, except for those liabilities that expressly survive a termination of this Agreement; or (ii) proceed to
Closing and accept the untruth or inaccuracy of such Seller representation or warranty with no further right to terminate the Agreement (or pursue any other right or remedy) on the basis of the untruth or inaccuracy thereof. 
 8. Purchaser’s Covenants and Representations. 
 Purchaser hereby represents, warrants and covenants with Seller as follows: 
 8.1. Due
Authorization. Purchaser is a corporation duly authorized, validly existing and in good standing under the laws of the State of New York. Purchaser has full power to execute, deliver and carry out the terms and provisions of this Agreement
and each of the other agreements, instruments and documents herein required to be made or delivered by Purchaser pursuant hereto, and has taken all necessary action to authorize the execution, delivery and performance of this Agreement and such
other agreements, instruments and documents. The individuals executing this Agreement and all other agreements, instruments and documents herein required to be made or delivered by Purchaser pursuant hereto on behalf of Purchaser are and shall be
duly authorized to sign the same on Purchaser’s behalf and to bind Purchaser thereto. 
 8.2. Enforceability. This
Agreement has been, and each and all of the other agreements, instruments and documents herein required to be made by Purchaser pursuant hereto have been, or on the Closing Date will have been, executed by Purchaser or on behalf of Purchaser, and
when so executed, are and shall be legal, valid, and binding obligations of Purchaser enforceable against Purchaser in accordance with their respective terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium, and other
similar laws affecting the rights of creditors generally and, as to enforceability, the general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law). 
 9. Purchaser’s Conditions Precedent. The following shall be conditions precedent to Purchaser’s obligation to close hereunder
(“Purchaser’s Conditions Precedent”): 
 9.1. Seller’s Compliance. Seller shall have complied in all
material respects with the terms and conditions set forth in this Agreement to be performed by Seller. 
 9.2. Lease
Commencement. The Commencement Date of the Lease shall have occurred. 
 9.3. Title Policy. At Closing, the Title
Company shall have issued an ALTA owner’s title policy (or a “marked-up” Title Commitment) (the “Title Policy”), dated as of the Closing Date, insuring Purchaser’s interest as the fee owner of the Land and in the
amount of the Purchase Price, with all exceptions other than Permitted Exceptions deleted. 
 9.4. Phase I. Purchaser
acknowledges that it has reviewed and approved a copy of the Phase I environmental site assessment dated as of August 10, 2006 by Braun Intertec 
  

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 Corporation (the “Environmental Consultant”). Prior to the Closing, Purchaser shall have the opportunity
to obtain a follow-up Phase I environmental site assessment from the Environmental Consultant and if recommended by the Environmental Consultant in the follow-up Phase I, subject to the provisions hereof, a Phase II environmental site assessment
(the “Follow-up Assessments”). At Purchaser’s election by written notice to Seller within twenty-five (25) days of the Commencement Date, Purchaser can delay the Closing for the amount of days recommended by the
Environmental Consultant, in its reasonable estimation, in order to obtain the aforementioned Phase II and to have up to two (2) business days for Purchaser to review such Phase II. It shall be a Purchaser Condition Precedent that any Follow-up
Assessments obtained do not disclose any materially adverse condition that Seller is unwilling, in its sole discretion, to remediate promptly (before or after Closing), at Seller’s expense. 
 9.5. Recapture Agreements. To the extent that Purchaser would be required to bear any expense (other than de minimus expenses) in
conjunction with any Recapture Agreement that may be entered into by Seller, Seller hereby covenants that it shall not enter into any such agreement except as may be reasonably necessary in conjunction with the obligations of the Seller pursuant to
the Lease, and as may be approved in advance by Purchaser, such approval not to be unreasonably withheld or delayed. 
 9.6. Zoning
Endorsement. Purchaser shall have obtained, at Purchaser’s expense, an ALTA Zoning 3.1 endorsement in form and substance reasonably acceptable to Purchaser. 
 In the event that any of the Purchaser’s Conditions Precedent are not satisfied prior to the Closing, Purchaser, in its sole discretion, may terminate this Agreement by written notice to Seller prior to the
Closing Date, in which event, except as set forth below, the Earnest Money shall be promptly returned to Purchaser and neither party shall have any further liability to the other except as specifically set forth in this Agreement. 
 10. Seller’s Conditions Precedent. The following shall be conditions precedent (“Seller’s Conditions Precedent”)
to Seller’s obligation to close hereunder: 
 10.1. Purchaser’s Compliance. Purchaser shall have complied with all of
the terms and conditions set forth in this Agreement to be performed by Purchaser. 
 10.2. Conditions Precedent under the Lease.
All conditions precedent to Seller’s obligations pursuant to the Lease shall have been satisfied, and Purchaser shall not be in default pursuant to the Lease. 
 In the event that any of the Seller’s Conditions Precedent or other conditions precedent to Seller’s obligation to close hereunder set forth herein are not satisfied prior to the Closing, Seller, in its sole
discretion, may terminate this Agreement by written notice to Purchaser, and Seller shall have the right to exercise any or all of its remedies pursuant to Section 15.2 below, if applicable. 
  

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 11. Closing Documents and Related Matters. 
 11.1. Seller’s Closing Documents. At Closing, Seller shall deliver, or cause to be delivered, to Purchaser, the following documents,
in form and substance reasonably acceptable to Purchaser: 
 11.1.1. The Deed, in recordable form, conveying the Property to Purchaser
subject to the Permitted Exceptions. 
 11.1.2. An Owner’s Affidavit, in form and substance reasonably acceptable to the Title
Company, executed by Seller, which Owner’s Affidavit shall not impose additional liability or obligations on Seller not specifically provided for in this Agreement. 
 11.1.3. A joint closing statement (“Closing Statement”) between Seller and Purchaser, conforming to the proration and other relevant provisions of this Agreement. 
 11.1.4. An “Entity Transferor” certification (as required under Section 1445 of the Internal Revenue Code), confirming
Seller’s representation that it is a “United States Person.” 
 11.1.5. A Certificate of Real Estate Value (PE-20).

 11.1.6. A Bill of Sale and General Assignment transferring Seller’s rights in and to all warranties and guarantees relating
to the construction of the Improvements, (i) solely as to any rights under such warranties and guaranties that exist in relation to claims made beyond the Warranty Period (Seller hereby expressly reserving for itself all rights under such
warranties and guaranties as to claims relating to the Warranty Period), and (ii) solely to the extent they are transferable. 
 11.1.7. An assignment and assumption pursuant to the form attached as Exhibit C hereto (the “TIF Obligations Assumption”) of the obligations and/or the rights of the Seller under (i) the Development Agreement,
(ii) the TIF Note (as defined in the Development Agreement), and (iii) the Promissory Note (the “Purchase Price Note”) in the amount of $769,527 that the Seller delivered to the City when purchasing the Property from the
City, and all obligations thereunder. 
 11.1.8. The temporary or final certificate of occupancy or legal equivalent thereof, or form
of letter from a governmental authority, as may be required to be delivered pursuant to the Lease in order for Substantial Completion to be deemed to occur, provided, however, that this Section 11.1.8 shall be deemed to have been
satisfied to occur on the date on which such certificate of occupancy would otherwise have been issued but for any Tenant Delays or Tenant Improvements. 
 11.1.9. An affidavit to Purchaser stating that amounts due and owing to parties having performed work or services for the Improvements pursuant to agreements with Seller or the General Contractor (other than
for work or services for which a party may have or assert a lien claim against the Property, which shall not be part of such affidavit) have been paid in full. Such affidavit shall be in addition to the Owner’s Affidavit provided for in
Section 11.1.2 above. 
  

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 11.1.10. A Minnesota Department of Health Well Disclosure Certification on the Deed that
“Seller certifies that Seller does not know of any wells on the described Property.” 
 11.1.11. The affidavit described in
Minnesota Statutes, Section 115B.16, Subdivision 2, if required. 
 11.2. Purchaser’s Closing Deliveries. At Closing
(or at such other times as may be specified below), Purchaser shall deliver or cause to be delivered to Seller the following, in form and substance reasonably acceptable to Seller: 
 11.2.1. The Purchase Price, as required by Section 2 hereof. 
 11.2.2. The Closing Statement, executed in counterpart by Purchaser. 
 11.2.3. A Certificate of Real Estate Value (PE-20). 
 11.2.4. A TIF Obligation Assumption. 
 11.3. Mutual Closing Documents. Each party shall
deliver such other documents and instruments as may reasonably be required by the other party and/or its counsel or the Title Company, and that may be necessary to consummate this transaction and to otherwise effectuate the agreements of the parties
hereunder, provided such documents and instruments shall not impose additional liability or obligations on Seller not specifically provided for in this Agreement. 
 12. Prorations and Adjustments. Prorations shall be made as of the Closing Date as if Purchaser were in title for the entire Closing Date. The following shall be prorated and adjusted between Seller and
Purchaser, provided, however, that if any of the following are explicitly the obligation of Purchaser pursuant to the Lease, then the prorations hereunder shall be adjusted as may be required to conform with the provisions of the Lease: 

12.1. Assessments. All assessments, general or special, shall be prorated as of the Closing Date, with Seller being responsible for any
installments of assessments that are due and payable prior to the Closing Date and Purchaser being responsible for any installments of assessments that are due and payable on or after the Closing Date. 
 12.2. Taxes. All ad valorem real estate and personal property taxes with respect to the Land and the Improvements shall be prorated as of
the Closing Date, based on the most currently available final tax information on an accrual basis for the calendar year in which the Closing occurs, such that Seller shall pay all such taxes attributable to the period prior to the Closing Date
regardless of when due and payable and Purchaser shall be responsible for all such taxes attributable to the period from and after the Closing Date. 
  

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 12.3. Other. Such other items as are customarily prorated in transactions of this nature
shall be ratably prorated. 
 12.4. Adjustments. All prorations at closing shall be final, and shall not be subject to
reproration. 
 13. Closing Expenses. Purchaser will pay for one-half of the cost of the Title Commitment, one-half of the cost
of the Title Policy and the entire cost of any endorsements that Purchaser has requested from the Title Company (obtaining any endorsements shall not be a condition precedent to Purchaser’s obligations hereunder), one-half of all escrow fees
hereunder, the cost of recording the Deed or other documents at the Closing, the cost of any survey obtained by Purchaser, and the cost of any and all transfer and/or documentary stamp taxes. Seller will pay for one-half of the cost of the Title
Commitment, one-half of the cost of the Title Policy and one-half of all escrow fees hereunder. Except as provided in Section 18 below, each of Seller and Purchaser shall be responsible for their respective attorneys’ fees.

 14. Diminution of Property. If, prior to Closing, all or any portion of the Property is taken or made subject to
condemnation, eminent domain or other governmental acquisition proceedings (collectively “Eminent Domain Portion”), then: 
 14.1. If value of the Eminent Domain Portion is not substantial (in the reasonable determination of Seller and Purchaser), Purchaser shall close and take the Property as diminished by such events with an assignment by Seller of any
condemnation proceeds less any amounts incurred by Seller to collect the condemnation proceeds. 
 14.2. If the value of the Eminent
Domain is substantial (in the reasonable determination of Seller and Purchaser), then Purchaser, may elect either to (i) terminate this Agreement by written notice to Seller delivered within ten (10) days after Purchaser is notified of
such Eminent Domain, in which event the Earnest Money shall be returned to Purchaser, and neither party shall have any further liability to the other hereunder, except for those liabilities that expressly survive a termination of this Agreement; or
(ii) proceed to close and take the Property as diminished by such events, together with an assignment of the condemnation proceeds less any amount incurred by Seller to collect the condemnation proceeds. 
 15. Default. 
 15.1.
Seller Default. If Seller is in material default of any of the covenants and agreements contained herein to be performed by Seller within the time for performance as specified herein (including Seller’s obligation to close),
Purchaser may elect, as Purchaser’s sole and exclusive remedy, either to (i) terminate this Agreement by written notice to Seller with a copy to the Earnest Money Escrowee, in which event the Earnest Money, together with all interest
thereon, shall be returned to Purchaser, and neither party shall have any further rights or obligations hereunder except as otherwise expressly provided below or elsewhere in this Agreement; or (ii) Purchaser may file an action for specific
performance of this Agreement. Purchaser shall have no other remedy for any default by Seller. In the event of the failure of any Condition Precedent to Purchaser’s obligation to close, Purchaser’s sole remedy hereunder, at law or in
equity, shall be to terminate this Agreement, in which event the Earnest Money shall be returned to Purchaser, whereupon neither party shall have any further liability hereunder except for those liabilities that expressly survive a termination of
this Agreement. 
  

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 15.2. Purchaser Default. In the event Purchaser fails to close or defaults under or
breaches any other obligations imposed on Purchaser under this Agreement or under the Lease, then Seller shall be entitled to (and shall) receive the Earnest Money as fixed and liquidated damages, and Purchaser and Seller shall cause the Title
Company to immediately deliver the Earnest Money to Seller, and thereafter, this Agreement shall terminate and neither party shall have any further liability hereunder, except for those liabilities which expressly survive the termination of this
Agreement. Seller shall have no other remedy for any default by Purchaser, including any right to damages. PURCHASER AND SELLER ACKNOWLEDGE AND AGREE THAT: (1) THE AMOUNT OF THE EARNEST MONEY IS A REASONABLE ESTIMATE OF AND BEARS A REASONABLE
RELATIONSHIP TO THE DAMAGES THAT WOULD BE SUFFERED AND COSTS INCURRED BY SELLER AS A RESULT OF HAVING WITHDRAWN THE PROPERTY FROM SALE AND THE FAILURE OF CLOSING TO HAVE OCCURRED DUE TO A DEFAULT OF PURCHASER UNDER THIS AGREEMENT; (2) THE
ACTUAL DAMAGES SUFFERED AND COSTS INCURRED BY SELLER AS A RESULT OF SUCH WITHDRAWAL AND FAILURE TO CLOSE DUE TO A DEFAULT OF PURCHASER UNDER THIS AGREEMENT WOULD BE EXTREMELY DIFFICULT AND IMPRACTICAL TO DETERMINE; (3) PURCHASER SEEKS TO LIMIT
ITS LIABILITY UNDER THIS AGREEMENT TO THE AMOUNT OF EARNEST MONEY IN THE EVENT THIS AGREEMENT IS TERMINATED AND THE TRANSACTION CONTEMPLATED BY THIS AGREEMENT DOES NOT CLOSE DUE TO A DEFAULT OF PURCHASER UNDER THIS AGREEMENT; AND (4) THE AMOUNT
OF THE EARNEST MONEY SHALL BE AND CONSTITUTE VALID LIQUIDATED DAMAGES FOR A DEFAULT OF PURCHASER UNDER THIS AGREEMENT. Purchaser and Seller agree that any remedies provided for pursuant to this Agreement for a default of Purchaser shall be in
addition to any remedies of Seller set forth in the Lease, and any termination of this Agreement pursuant to the terms hereof shall not cause a termination of the Lease. In the event that Purchaser has defaulted pursuant to this Agreement or the
Lease, then Purchaser shall have no further right to exercise the Purchase Option, notwithstanding any provision in the Lease. All of the foregoing shall be without limitation upon the rights and remedies of Seller hereunder, at law or in equity in
the event of a default by Purchaser pursuant to Sections 5, 16, 17, 18, 22.8, and 22.9, or any covenant, agreement, indemnity, representation or warranty of Purchaser that survives the Closing or
the termination of this Agreement. 
 15.3. Liability Cap and Survival Period. Notwithstanding anything to the contrary
contained in this Agreement, Seller’s aggregate liability under this Agreement for any and all defaults, breaches, indemnities, failures of conditions and all other matters shall not exceed the amount of One Hundred Thousand and No/100 Dollars
($100,000.00). 
 15.4. Lease Warranty Provisions. The Seller and Purchaser specifically acknowledge and agree that
notwithstanding any other provisions of this Agreement to the contrary: (a) the provisions of Exhibit B of the Lease shall not be subject to the provisions of Sections 15.1, 15.3, 21.1, or 22.1 of this Agreement, and
(b) the provisions of Exhibit B of the Lease shall survive the Closing to the extent and for the period provided in Exhibit B of the Lease. 
  

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 15.5. Lease and Tri-Party Agreement Survival. In the event of a termination of this
Agreement due to a default by the Purchaser, the Lease shall not be terminated, and to the extent set forth in the Lease, the Purchaser shall remain obligated as Tenant and the Seller shall remain obligated as Landlord thereunder subject to the
terms of the Lease. In addition to the foregoing, Purchaser, as Tenant, shall be obligated to pay any and all Rent due and owing from and after the Commencement Date that may have accrued prior to the termination of this Agreement within five
(5) days after any termination of this Agreement. The provisions of the Tri-Party Agreement shall survive the conveyance pursuant to this Agreement for the benefit of the Seller. 
 16. Successors and Assigns. The terms, conditions and covenants of this Agreement shall be binding upon and shall inure to the benefit of
the parties and their respective nominees, successors, beneficiaries and permitted assigns; provided, however, that no conveyance, assignment or transfer of any interest whatsoever of, in or to the Property or this Agreement shall be made by
Purchaser during the term of this Agreement. Seller or Purchaser may assign its interest in and obligations under this Agreement (including, without limitation, to a so-called “Qualified Intermediary” in order to accomplish the Exchange),
subject to the provisions of Section 22.9. 
 17. Brokerage. Each party hereto represents and warrants to the other
that it has dealt with no brokers or finders in connection with this transaction. Seller and Purchaser each hereby indemnify, protect and defend and hold the other harmless from and against all losses, claims, costs, expenses and damages (including,
but not limited to, reasonable fees of counsel selected by the indemnified party) resulting from the claims of any broker, finder or other such party, claiming by, through or under the acts or agreements of the indemnifying party. The obligations of
the parties pursuant to this Section 17 shall survive any termination of this Agreement. 
 18. Litigation.
In the event of litigation between the parties with respect to the Property, this Agreement, the performance of their respective obligations hereunder or the effect of a termination under this Agreement, the losing party shall pay all costs and
expenses reasonably incurred by the prevailing party in connection with such litigation, including attorneys’ reasonable fees. Notwithstanding any provision of this Agreement to the contrary, the obligations of the parties under this
Section 18 shall survive termination of this Agreement. 
 19. Notices. Any notice, demand or request which may be
permitted, required or desired to be given in connection therewith shall be given in writing and directed to Seller, Purchaser or Title Company/Earnest Money Escrowee as follows: 
  

			
	Seller:	  	First Industrial Development Services, Inc.
		  	7625 Golden Triangle Drive, Suite T
		  	Eden Prairie, MN 55344
		  	Attn: Chris Willson
		  	Facsimile: (952) 943-8778
		
	With a copy to:	  	Barack Ferrazzano Kirschbaum
		  	Perlman & Nagelberg LLP

  

 11 

			
		  	333 West Wacker Drive, Suite 2700
		  	Chicago, Illinois 60606
		  	Attention: Julie K. Rademaker and Matt Kim-Miller
		  	Facsimile: (312) 984-3150
		
	Purchaser:	  	Cybex International, Inc.
		  	10 Trotter Drive
		  	Medway, Massachusetts 02053
		  	Attention: Chief Operating Officer
		  	Facsimile: (508) 533-5799
		
	With a copy to:	  	Archer & Greiner, P.C.
		  	One Centennial Square
		  	Haddonfield, NJ 08033
		  	Attention: James H. Carll, Esquire
		  	Facsimile: (856) 795-0574
		
	Title Company	  	
	Earnest Money	  	
	Escrowee:	  	Chicago Title Insurance Company
		  	171 North Clark, 04CI
		  	Chicago, Illinois 60601
		  	Attention: Jennifer Rench
		  	Facsimile: (312) 223-5801

 Notices shall be either (i) personally delivered (including delivery by Federal Express or
other courier service) to the offices set forth above, in which case they shall be deemed delivered on the date of delivery to said offices; or (ii) sent by certified or registered mail, return receipt requested, in which case they shall be
deemed delivered on the date that is three (3) business days after the date shown on the receipt, unless delivery is refused or delayed by the addressee, in which event they shall be deemed delivered on the date of deposit in the U.S. Mail or
(iii) by confirmed facsimile, in which case they shall be deemed delivered on the date sent. 
 20. Benefit. This
Agreement is for the benefit only of the parties hereto or their nominees, successors, beneficiaries and assignees as permitted in Section 16, and no other person or entity shall be entitled to rely hereon, receive any benefit herefrom
or enforce against any party hereto any provision hereof, whether as a third party beneficiary or otherwise, it being specifically intended that there shall be no third party beneficiaries hereto or any third party reliance hereon. 
 21. Property Sold “AS IS”  
 21.1. The sale of the Property is on a strictly “AS IS,” “WHERE-IS” basis as of the Closing Date, without any representations or warranties, of any nature whatsoever from Seller, except as
may be otherwise expressly provided in this Agreement or the Lease. Seller hereby specifically disclaims any warranty (oral or written) concerning: (i) the nature and 
  

 12 

 condition of the Property and the suitability thereof for any and all activities and uses that Purchaser may elect to
conduct thereon; (ii) the manner, construction, condition and state of repair or lack of repair of any improvements located thereon; (iii) the nature and extent of any right-of-way, lien, encumbrance, license, reservation, condition or
otherwise; (iv) the compliance of the Property or its operation with any laws, rules, ordinances, or regulations of any government or other body; and (v) any other matter whatsoever, except as otherwise expressly set forth in this
Agreement or the Lease. Purchaser expressly acknowledges that, in consideration of the agreements of Seller herein, and except as otherwise expressly provided in this Agreement and the Lease, SELLER MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR
IMPLIED, OR ARISING BY OPERATION OF LAW, TO OR FOR THE BENEFIT OF PURCHASER AND CONCERNING THE PROPERTY, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTY OF QUANTITY, QUALITY, CONDITION, HABITABILITY, MERCHANTABILITY, SUITABILITY OR FITNESS FOR A
PARTICULAR PURPOSE OF THE PROPERTY, ANY IMPROVEMENTS LOCATED THEREON, OR ANY SOIL CONDITIONS RELATED THERETO. PURCHASER SPECIFICALLY ACKNOWLEDGES THAT PURCHASER IS NOT RELYING ON (AND SELLER HEREBY DISCLAIMS AND RENOUNCES) ANY REPRESENTATIONS
OR WARRANTIES MADE BY OR ON BEHALF OF SELLER OF ANY KIND OR NATURE WHATSOEVER. The Property is being sold together with the benefit of the warranties set forth in Exhibit B to the Lease and the representations and warranties set forth
herein. All other warranties of Seller are disclaimed by Seller. 
 21.2. FURTHER, EXCEPT AS SPECIFICALLY PROVIDED HEREIN AND IN THE
LEASE, PURCHASER, FOR PURCHASER AND PURCHASER’S SUCCESSORS AND ASSIGNS, HEREBY RELEASES SELLER FROM, AND WAIVES, ANY AND ALL CLAIMS AND LIABILITIES AGAINST SELLER FOR, RELATED TO, OR IN CONNECTION WITH, ANY ENVIRONMENTAL OR PHYSICAL CONDITION
AT THE PROPERTY (OR THE PRESENCE OF ANY MATTER OR SUBSTANCE RELATING TO THE ENVIRONMENTAL CONDITION OF THE PROPERTY), INCLUDING, BUT NOT LIMITED TO, CLAIMS AND/OR LIABILITIES RELATING TO (IN ANY MANNER WHATSOEVER) ANY HAZARDOUS, TOXIC OR DANGEROUS
MATERIALS OR SUBSTANCES LOCATED IN, AT, ABOUT OR UNDER THE PROPERTY, OR FOR ANY AND ALL CLAIMS OR CAUSES OF ACTION (ACTUAL OR THREATENED) BASED UPON, IN CONNECTION WITH, OR ARISING OUT OF, CERCLA, AS AMENDED BY SARA, AND AS MAY BE FURTHER AMENDED
FROM TIME TO TIME, RCRA, OR ANY OTHER CLAIM OR CAUSE OF ACTION (INCLUDING ANY FEDERAL OR STATE BASED STATUTORY, REGULATORY OR COMMON LAW CAUSE OF ACTION) RELATED TO ENVIRONMENTAL MATTERS OR LIABILITY WITH RESPECT TO, OR AFFECTING, THE PROPERTY.
PURCHASER REPRESENTS TO SELLER THAT PURCHASER HAS CONDUCTED, OR WILL CONDUCT PRIOR TO CLOSING, SUCH INVESTIGATIONS OF THE PROPERTY, INCLUDING BUT NOT LIMITED TO, THE PHYSICAL AND ENVIRONMENTAL CONDITIONS THEREOF, AS PURCHASER DEEMS NECESSARY TO
SATISFY ITSELF AS TO THE CONDITION OF THE PROPERTY AND THE EXISTENCE OR NONEXISTENCE OF, OR CURATIVE ACTION TO BE TAKEN WITH RESPECT TO, ANY HAZARDOUS OR TOXIC SUBSTANCES ON OR DISCHARGED FROM THE LAND, AND WILL RELY SOLELY UPON SAME AND NOT UPON
ANY INFORMATION PROVIDED BY, OR ON BEHALF OF, SELLER, ITS AGENTS 
  

 13 

 AND EMPLOYEES WITH RESPECT THERETO, OTHER THAN SUCH REPRESENTATIONS AND WARRANTIES OF SELLER AS ARE EXPRESSLY SET FORTH
IN THIS AGREEMENT OR IN THE LEASE. UPON CLOSING, PURCHASER SHALL ASSUME THE RISK THAT ADVERSE MATTERS, INCLUDING BUT NOT LIMITED TO, ADVERSE PHYSICAL AND ENVIRONMENTAL CONDITIONS, MAY NOT HAVE BEEN REVEALED BY PURCHASER’S INVESTIGATIONS.

 21.3. PURCHASER ACKNOWLEDGES AND AGREES THAT THE WAIVERS, RELEASES AND OTHER PROVISIONS CONTAINED IN THIS SECTION 21 WERE A
MATERIAL FACTOR IN SELLER’S ACCEPTANCE OF THE PURCHASE PRICE AND THAT SELLER IS UNWILLING TO SELL THE PROPERTY TO PURCHASER UNLESS SELLER AND OWNER ARE RELEASED AS EXPRESSLY SET FORTH ABOVE. PURCHASER, WITH PURCHASER’S COUNSEL, HAS FULLY
REVIEWED THE DISCLAIMERS AND WAIVERS SET FORTH IN THIS AGREEMENT, AND UNDERSTANDS THE SIGNIFICANCE AND EFFECT THEREOF. THE TERMS AND CONDITIONS OF THIS SECTION 21 WILL EXPRESSLY SURVIVE THE CLOSING, WILL NOT MERGE WITH THE PROVISIONS OF ANY CLOSING
DOCUMENTS. 
 22. Miscellaneous. 
 22.1. Entire Understanding. This Agreement constitutes the entire understanding between the parties with respect to the transaction contemplated herein, and all prior or contemporaneous oral agreements,
understanding, representations and statements, and all prior written agreements, understandings, representations and statements are merged into this Agreement. Neither this Agreement nor any provisions hereof may be waived, modified, amended,
discharged or terminated except by an instrument in writing signed by the party against which the enforcement of such waiver, modification, amendment, discharge or termination is sought, and then only to the extent set forth in such instrument.

 22.2. Time of the Essence. Time is of the essence of this Agreement. If any date herein set forth for the performance of any
obligations by Seller or Purchaser or for the delivery of any instrument or notice as herein provided should be on a Saturday, Sunday or legal holiday, the compliance with such obligations or delivery shall ipso facto be extended to
the next business day following such Saturday, Sunday or legal holiday. As used herein, the term “legal holiday” means any state or federal holiday for which financial institutions or post offices are generally closed in the State of
Minnesota for observance thereof. 
 22.3. Construction. This Agreement shall not be construed more strictly against one party
than against the other merely by virtue of the fact that it may have been prepared by counsel for one of the parties, it being recognized that both Seller and Purchaser have contributed substantially and materially to the preparation of this
Agreement. The headings of various paragraphs in this Agreement are for convenience only, and are not to be utilized in construing the content or meaning of the substantive provisions hereof. 
 22.4. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of Minnesota. 
  

 14 

 22.5. Partial Invalidity. The provisions hereof shall be deemed independent and severable,
and the invalidity or partial invalidity or enforceability of any one provision shall not affect the validity of enforceability of any other provision hereof. 
 22.6. Recording. Neither this Agreement nor any memorandum thereof shall be recorded and the act of recording by Purchaser shall be deemed a default by Purchaser hereunder, provided, however that any
memorandum of the Lease that is required by the City of Owatonna shall not be deemed a default pursuant to the provisions of this Section. 
 22.7. Counterparts. This Agreement may be executed in multiple counterparts and shall be valid and binding with the same force and effect as if all parties had executed the same Agreement. 
 22.8. 8-K Filings. Purchaser and Seller will cooperate with each other, without third-party expense to either party, before and after
Closing, in providing such information as either party shall reasonably require from the other party to prepare its Form 8-K filings and such other reports and filings as may be required by any governmental authority. The provisions of this Section
shall survive the Closing. 
 22.9. 1031 Exchange. Purchaser recognizes and understands that this transaction may be part of a
contemplated “like kind” exchange for Seller under §1031 of the Internal Revenue Code (the “Seller’s Exchange”). As such, Purchaser agrees to cooperate with Seller in effectuating the Seller’s Exchange,
which cooperation may include the execution of documents and the taking of other reasonable action, as is reasonably necessary, in the opinion of Seller, to accomplish the Seller’s Exchange; provided, however that Purchaser shall not be
required to assume any additional expense or liability in connection with, or as part of its cooperation with, the Seller’s Exchange. Seller recognizes and understands that this transaction may be part of a contemplated “like kind”
exchange for Purchaser under §1031 of the Internal Revenue Code (the “Purchaser’s Exchange”). As such, Seller agrees to cooperate with Purchaser in effectuating the Purchaser’s Exchange, which cooperation may include
the execution of documents and the taking of other reasonable action, as is reasonably necessary, in the opinion of Purchaser, to accomplish the Purchaser’s Exchange; provided, however that Seller shall not be required to assume any additional
expense or liability in connection with, or as part of its cooperation with, the Purchaser’s Exchange. The covenants contained in this Section 22.9 shall survive the Closing and shall not be merged into any instrument of conveyance
delivered at Closing. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 15 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement of Purchase and Sale on the date
first above written. 
  

			
	SELLER:
	
	FIRST INDUSTRIAL DEVELOPMENT SERVICES, INC., a Maryland corporation
		
	By:	 	 /s/ Bernard Bak

	Name:	 	Bernard Bak
	Its:	 	VP Due Diligence and Investments
	
	PURCHASER:
	
	CYBEX INTERNATIONAL, INC., a New York corporation
		
	By:	 	 /s/ Arthur W. Hicks, Jr.

	Name:	 	Arthur W. Hicks, Jr.
	Its:	 	Executive Vice President

 RECEIVED, REVIEWED AND ACCEPTED this      day of
                    , 2006 
  

			
	 CHICAGO TITLE INSURANCE COMPANY

		
	 By:
	 	  

	 Name:
	 	  

	 Its:
	 	  

  

 S-1 

 EXHIBIT A 
 LEGAL DESCRIPTION 
 Lot 1 and Outlot A of Block 1, Ebeling Farm Addition, City of Owatonna, Steele County, Minnesota.

  

 A-1 

 EXHIBIT B 
 PERMITTED EXCEPTIONS 
 1. General and special taxes and assessments not yet due and payable.

 2. Terms and conditions of Drain Tile Agreement, dated September 1, 1965, between John W. Ebeling and Clara Ebeling, and Owatonna
Country Club recorded October 21, 1965, in Book 138, page 260. 
 3. Restrictions on access pursuant to Final Certificate, dated
August 31, 1967, filed November 3, 1967, in Book 143, page 469. 
 4. Restrictions on access pursuant to Final Certificate, dated
June 12, 1980, filed July 1, 1980, in Book 167, page 953, as Document No. 177763. 
 5. Highway Easement, dated
February 17, 1988 from Marvin W. Ebeling and Delores F. Ebeling, husband and wife; Lyle E. Ebeling and Alma L. Ebeling, husband and wife, Jack M. Ebeling and Crystal J. Ebeling, husband and wife, to the County of Steele, filed March 3,
1988, in Book 179, page 890, as Document No. 207967. 
 6. Utility easements shown on the plat of Ebeling Farm Addition. 
 7. The easement to be reserved by the City in its conveyance of the Land to the Seller for all utilities over, under, and across the following: The East
15 feet of the West 30 feet of Lot 1, Block 1, Ebeling Farm Addition. 
 8. The easement to be reserved by the City in its conveyance of the
Land to the Seller for all utilities over, under, and across the following: The West 30 feet of Outlot A, Ebeling Farm Addition. 
  

 B-1 

 EXHIBIT C 
 TIF OBLIGATIONS ASSIGNMENT 
 THIS ASSIGNMENT AND ASSUMPTION (the “Assignment”) is
made and entered into this      day of                     , 200     by and between
FIRST INDUSTRIAL DEVELOPMENT SERVICES, INC., a Maryland corporation (“Seller”), and CYBEX INTERNATIONAL, INC., a New York corporation (“Purchaser”). 
 R E C I T A L S: 
 WHEREAS, Seller and Purchaser entered into that
certain of Agreement of Purchase and Sale, dated August     , 2006 (the “Agreement”), for the purchase and sale of the real property and improvements thereon described in the Agreement (the
“Property”); and 
 WHEREAS, in connection with the consummation of the transaction contemplated under the Agreement, Seller
and Purchaser desire to execute this Assignment. 
 NOW, THEREFORE, in consideration of good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows: 
 1. Recitals. The foregoing recitals are hereby
incorporated in the body of this Assignment as if fully rewritten and restated herein. 
 2. Assignment of Development Agreement and
TIF Note. Seller hereby sells, transfers and assigns to Purchaser all of its obligations, rights, title and interests in and to (i) the Development Agreement by and between the Seller and the City of Owatonna (the
“City”), Minnesota (as amended, modified, or supplemented, the “Development Agreement”), (ii) the TIF Note (as defined in the Development Agreement), and (iii) the Promissory Note (the “Purchase
Price Note”) in the amount of $769,527 that the Seller delivered to the City when purchasing the Property from the City, and all obligations thereunder, subject in each case, however, to the terms, covenants and conditions of this
Assignment. 
 3. Assumption of Obligations. Purchaser hereby accepts the assignment of the obligations, rights, title and
interests in and to the Development Agreement, the TIF Note and the Purchase Price Note, subject to the terms and conditions hereof, and from and after the date hereof, Purchaser hereby assumes and shall be responsible for and shall perform all of
those obligations imposed on the “Developer” under the Development Agreement and the Seller as the maker of the Purchase Price Note that arise from and after the date of this Assignment, provided, however, that the Purchaser hereby accepts
all obligations pursuant to Sections 5.1 and 6.1, of the Development Agreement and the Purchase Price Note regardless of when such obligations arose. Notwithstanding the foregoing, (i) as between the City and the Seller, the Seller shall retain
all obligations under the Development Agreement in relation to the initial construction of the Improvements (as defined in the Lease) to the extent provided in the Lease (as defined in the Agreement) that such obligations are those of the Seller,
and (ii) as between the City and the Company, the Company shall retain all obligations under the Development Agreement in relation to the initial construction of the Improvements to the extent provided in the Lease (as defined in the Agreement)
that such obligations are those of the Company; provided, however, that in relation to 
  

 C-1 

 the provisions of the foregoing clauses (i) and (ii), neither party shall have a cause of action against the other
under this Assignment as to such construction obligations, and each party’s recourse in relation to such construction obligations shall be solely as set forth in the Lease. Notwithstanding the foregoing, to the extent that the Company shall
have paid any amounts directly to Seller (or to the City at the direction of Seller) in relation to amounts specifically due from Seller pursuant to the Development Agreement and the Purchase Price Note, then the Company shall be deemed to have
satisfied such obligations hereunder. 
 4. Counterparts. This Assignment may be executed in one or more identical
counterparts, all of which, when taken together shall constitute one and the same instrument. 
 5. Partial Invalidity. The
provisions hereof shall be deemed independent and severable, and the invalidity or enforceability of any one provision shall not affect the validity or enforceability of any other provision hereof. 
  

			
	SELLER:
	
	 FIRST INDUSTRIAL DEVELOPMENT
 SERVICES, INC., a Maryland corporation

		
	By:	 	  

	Name:	 	  

	Its:	 	  

	
	PURCHASER:
	
	 CYBEX INTERNATIONAL, INC., a New York
 corporation

		
	By:	 	  

	Name:	 	  

	Its:	 	  

  

 C-2Tri-Party Agreement

 Exhibit 10.3 
 TRI-PARTY AGREEMENT 
 This TRI-PARTY AGREEMENT (this “Agreement”) is
made as of the 22nd day of August, 2006, by and among the City of Owatonna, Minnesota (the “City”), a municipal corporation and political subdivision organized and existing under the constitution and laws of the State of Minnesota,
First Industrial Development Services, Inc., a Delaware corporation (the “Developer”), and Cybex International, Inc., a New York corporation (the “Company”). 
 WHEREAS, pursuant to Minnesota Statutes, sections 469.124 through 469.134, the City has approved Owatonna Development District No. 3 Modification on
July 5, 2006 (the “Development District”) and has adopted a development program therefor (the “Development Program”); and 
 WHEREAS, pursuant to the provisions of Minnesota Statutes, sections 469.174 through 469.1799, as amended, (the “Tax Increment Act”), the City has created Tax Increment Financing District No. 3-2
(the “Tax Increment District”), and has adopted a tax increment financing plan therefor (the “Tax Increment Financing Plan”) which provides for the use of tax increment financing in connection with development
within the Development District; and 
 WHEREAS, the Developer and the City have entered into a Development Agreement dated as of
August 22, 2006, (the “Development Agreement”) pursuant to which the Developer has agreed to construct an approximately 340,000 square foot production, warehouse facility (the “Project”) on Lot 1, Block 1, And
Outlot A, Ebeling Farm Addition, Owatonna Industrial Park (the “Development Property”) for occupancy by the Company; 
 WHEREAS, pursuant to Minnesota Statutes, sections 116J.993 through 116J.994 (the “Business Subsidy Law”) and, in accordance with the Business Subsidy Law, the City has entered into a Business Subsidy Agreement (the
“Business Subsidy Agreement”) with the Company in connection with the Project and the subsidy provided in the Development Agreement; 
 WHEREAS, as the purchase consideration for the Developer’s acquisition of the Development Property from the City pursuant to that certain Agreement of Purchase and Sale, dated as of August 22, 2006 (the
“City-Developer Purchase Agreement”), the Developer is making a Promissory Note (the “Purchase Price Note”) in the amount of $769,527 in favor of the City; 
 WHEREAS, the Developer and the Company have entered into that certain Industrial Building Lease (the “Lease”) dated as of
August 22, 2006 relating to the lease of, and a purchase option for, the Development Property, as provided in the Lease; 
 WHEREAS, the
City, the Developer and the Company desire to provide that the Company has a direct obligation to the City to perform and satisfy certain of the obligations provided for in the Development Agreement. 
  

 1 

 NOW, THEREFORE, in consideration of the premises and the mutual obligations of the parties
hereto, each of them does hereby covenant and agree as follows: 
 1. For the period from the “Commencement Date” (as defined in the
Lease) until the expiration of the “Term” (as defined in the Lease) the Company shall pay all ad valorem property taxes with respect to the Development Property prior to such property taxes becoming delinquent. Notwithstanding the
foregoing, in the event that the Lease is terminated due to any default by the Company, the Company’s obligation to pay for such ad valorum property taxes shall survive until the Termination Date (as defined in the Development Agreement). In
the event that the Developer has required the Company to reimburse Developer for any property taxes instead of directly paying such taxes to the taxing authority, then to the extent that the Company shall have paid such amounts to Developer, then
the Company’s obligations pursuant to this Section 1 shall be deemed satisfied. 
 2. For the period from the Commencement Date
until the expiration of the Term, in the event the Developer is required to pay any Tax Increment shortfall (pursuant to Section 5.2 of the Development Agreement), then the Company shall, within five (5) days of Developer’s demand,
pay to the City or reimburse Developer for, as the case may be, such Tax Increment shortfall amounts. Notwithstanding the foregoing, in the event that the Lease is terminated due to any default by the Company, the Company’s obligation to pay
for such Tax Increment shortfall amounts shall survive until the Termination Date. 
 3. In the event that any Tax Increment will be
insufficient to make any payment pursuant to the Purchase Price Note when and as such amounts are due, the Company shall, within five (5) days of Developer’s demand for such amount, pay such amount to Developer, and Developer shall apply
such amount to the payment of amounts then due under the Purchase Price Note. 
 4. To the extent that the obligations of the Company under
this Agreement are deemed to be a guaranty or a surety obligation: 
  

	 	a.	Such obligations are a guaranty of payment and performance and not of collection. The Company hereby expressly waives, any right, whether existing under at law or in equity, to
require any party hereto to take prior recourse or proceedings against any person, entity or collateral. No party hereto shall be required first to institute suit or pursue or exhaust any rights or remedies against Developer or any other person or
entity liable on the obligations described in this Agreement, or to join the Developer or any other party in order to enforce the obligations of the Company hereunder. 

  

	 	b.	The Company hereby waives any claim or defense that its obligations under this Agreement were made without consideration or are not supported by adequate consideration or that the
obligations of Company hereunder exceed or are more burdensome than those of the Developer under the Development Agreement. 

  

	 	c.	The Company hereby waives (i) whether express or by operation of law, any complete or partial release of the liability of Developer hereunder; (ii) the insolvency,
bankruptcy, disability, dissolution, liquidation, termination, receivership, reorganization, merger, consolidation, change of form, structure or ownership, sale of all assets, or lack of corporate, partnership or other power of Developer;
(iii) either with or without notice to or consent of the Company, any renewal, extension, modification, supplement, subordination or rearrangement of the terms of any or all of the obligations under the Development Agreement; (iv) notice
of any and all defaults by 

  

 2 

 Developer under the Development Agreement, (v) all other notices, demands and protests, and all
other formalities of every kind in connection with the enforcement of the obligations, omission of or delay in which, might constitute grounds for relieving the Company of its obligations hereunder; and (vi) any requirement that any party
hereto protect, secure, perfect, insure or proceed against any security interest or lien, or any property subject thereto, or exhaust any right or take any action against any collateral. 
 5. Except in the event of, and to the extent of, Developer’s gross negligence or willful misconduct, the Company hereby indemnifies, defends, and
holds the Developer Developer’s members and their respective affiliates, owners, partners, members, directors, officers, agents and employees (collectively, “Developer Indemnified Parties”) harmless from and against any and all
Losses (defined below) arising from or in connection with any of the following: (a) any breach by the Company of any or all of its warranties, representations and covenants under this Agreement, and (b) any Event of Default, pursuant to
and as defined in the Development Agreement, by the Developer, which Event of Default is caused by any default of the Company under any agreement by and between the Company and the Developer (the “Company Indemnified Matters”). In
case any action or proceeding is brought against any or all of Developer and the Developer Indemnified Parties by reason of any of Company Indemnified Matters, Company, upon notice from Developer, shall resist and defend such action or proceeding by
counsel reasonably satisfactory to, or selected by, Developer. The term “Losses” shall mean all claims, demands, expenses, actions, judgments, damages (actual, but not consequential), penalties, fines, liabilities, losses of every kind and
nature, suits, administrative proceedings, costs and fees, including, without limitation, attorneys’ and consultants’ reasonable fees and expenses, and the costs of cleanup, remediation, removal and restoration, that are in any way related
to any matter covered by the foregoing indemnity. 
 6. All amounts payable hereunder that are not paid when and as due hereunder, shall bear
interest at the rate of 5% per annum above the “prime” or “reference” or “base” rate (on a per annum basis) of interest publicly announced as such, from time to time, by the JPMorgan Chase Bank, NA, or its
successor, from the due date thereof until paid. 
 7. The City represents and warrants that: 
  

	 	a.	The City is a municipal corporation and political subdivision organized and existing under the Constitution and laws of the State of Minnesota; 

  

	 	b.	The City has complied with all provisions of the laws of the State of Minnesota and has full power and authority to create the Project the Development Program, the District and the
Plan; 

  

	 	c.	The City is duly authorized to carry out and consummate all transactions contemplated under this Agreement and any and all other agreements relating hereto;

  

	 	d.	This Agreement and the Development Agreement constitutes, or upon execution will constitute, a legal, valid and binding agreement of the City enforceable against the City in
accordance with their terms; and 

  

 3 

	 	e.	There is no action, suit, proceeding, inquiry or investigation, at law or in equity, or before or by any court, public board, governmental agency or body pending against the City,
and the City has no knowledge of any such action, suit, proceeding, or investigation, at law or in equity before or by any court, public board, governmental agency or body in the State, and, to the knowledge of the City, no such action is threatened
against the City, in any way contesting or questioning the due organization and lawful existence of the City or the title of any of the officers or members of the City to their offices, or in any way contesting or affecting the validity of the
Project, the Development Program, the District or the Plan, or contesting the powers of the City or its authority with respect to the Project, the Development Program, the District, the Plan or this Agreement. 

  

	 	f.	To the best of the City’s knowledge, there are no pending or threatened judicial, municipal or administrative proceedings affecting the Development Property or in which the
City is or will be a party by reason of the City’s ownership or operation of the Development Property or any portion thereof. No attachments, execution proceedings, assignments for the benefit of creditors, insolvency, bankruptcy,
reorganization or other proceedings are pending, or to the best of the City’s knowledge, threatened, against the City, nor are any of such proceedings contemplated by the City. 

  

	 	g.	Except for the Farm Lease, the Sublease and the City-Developer Conveyance Documents (as such terms are defined below), the City is not a party to any outstanding leases, licenses or
other use or occupancy agreements affecting the Development Property. Except for the Farm Lease, the Sublease, the City-Developer Conveyance Documents, the Business Subsidy Agreement, the Development Agreement and this agreement, the City is not a
party to any agreement relating to the operation or maintenance of the Development Property that would survive the closing pursuant to the City-Developer Conveyance Documents or which is not cancelable upon thirty (30) days’ notice,
without penalty. Further, the City is not subject to any commitment, obligation or agreement, including but not limited to any right of first refusal, redevelopment right or option to purchase in favor of a third party which would prevent the from
selling the Development Property to Purchaser or which would bind Purchaser following the closing under the City-Developer Conveyance Documents, except for the Farm Lease and Sublease. The City has, to the best of its knowledge and after due
inquiry, provided the Company and the Developer with a true and correct copy of the Farm Lease and Sublease with all amendments, modifications and supplements thereto. The term “Farm Lease” shall mean that certain Farm Lease, by and
between the City and Mr. Dale Hartle, dated as of June 15, 2005 , and all amendments and modifications thereto. The term “Sublease” shall mean the sublease of certain portions of the Farm Lease pursuant to that certain letter
agreement (as amended, the “Sublease”) dated March 31, 2006 between Monsanto Company and Mr. Dale Hartle, and all amendments and modifications thereto. The term “City-Developer Conveyance Documents” shall
mean the purchase and sale 

  

 4 

 agreement and the transactions related thereto pursuant to which the City is conveying the Development
Property to the Developer, and all amendments and modifications thereto. 
  

	 	h.	To the best of the City’s knowledge, there is no condition existing with respect to the maintenance, operation, use, or occupancy of the Development Property which violates any
statute, ordinance, law, or code, nor has the City received any notice, written or otherwise, from any governmental agency alleging violations of any law, statute, ordinance, or regulation relating to the Development Property.

  

	 	i.	The City does not have knowledge of any “wells” on the Development Property, within the meaning of Minn. Stat. §103I.005. 

  

	 	j.	For purposes of satisfying the requirements of Minn. Stat. §115.55, the City represents that there is no “individual sewer treatment system” (within the meaning of
that statute) on or serving the Development Property. 

  

	 	k.	To the City’s knowledge, methamphetamine production has not occurred on the Development Property. 

 8. The Company shall perform its obligations pursuant to this Agreement without any right of contribution, counterclaim or subrogation from, to or as
relates to the Developer or the Developer’s obligations under the Development Agreement. All obligations of the Company pursuant to this Agreement shall be a primary obligation of direct payment and not an obligation solely of collection from
the Company. The Developer shall have the right to specifically enforce the obligations of the Company under this Agreement. The obligations of the Company hereunder shall survive any termination of the Lease. 
 9. The City hereby grants the Company a right of first refusal to purchase the Development Property from the City in the event of a Reconveyance, as
defined in and pursuant to Paragraph 21.7 of the City-Developer Purchase Agreement. Such right shall commence upon the date notice is delivered by the City to the Developer, pursuant to Paragraph 21.7 of the City-Developer Purchase Agreement and
shall terminate thirty (30) days after a Reconveyance of the Development Property occurs, during which time if the Company determined that it desires to purchase the Development Property it shall provide the City with written notice of its
intent (an “Exercise Notice”), and shall have ninety (90) days (the “Closing Period”) from the later of the date notice is provided by the Company to the City or the date of the Reconveyance to close. In order
for an Exercise Notice to be effective, the Company shall have delivered prior to the expiration of the Closing Period evidence reasonably satisfactory to the City that the Company has engaged or will engage a contractor who will have reasonably
sufficient capacity to complete the contemplated improvements on the Development Property and has provided for a reasonable financing arrangement in relation to the Development Property and the contemplated improvements on it. Any conveyance
pursuant to this Section of the Development Property to the Company shall be on terms substantially in conformity with the provisions of the City-Developer Purchase Agreement (other than the required times for performance thereunder, which shall,
mutatis mutandis, be extended accordingly), including, but not limited to that any conveyance of the Development Property to the Company shall be subject to a right to a Reconveyance. 
  

 5 

 10. This Agreement may be executed in any number of counterparts, each of which shall constitute one and
the same instrument. 
 [REMAINDER OF PAGE INTENTIONALLY BLANK] 
  

 6 

 IN WITNESS WHEREOF, the City has caused this Agreement to be duly executed in its name and on its behalf and its seal to
be hereunto duly affixed, and each of the Developer and the Company has caused this Agreement to be duly executed in its respective name and on its respective behalf, on or as of the date first above written. 
  

					
		 	CITY OF OWATONNA
			
		 	By:	 	 /s/ Thomas A. Kuntz

		 		 	Thomas A. Kuntz
		 		 	    Its Mayor
			
		 	By:	 	 /s/ Greg L. Sparks

		 		 	Greg L. Sparks
		 		 	    Its City Administrator

 Signature Page for 
 Tri-Party Agreement 

 IN WITNESS WHEREOF, the City has caused this Agreement to be duly executed in its name and on its behalf and its seal to
be hereunto duly affixed, and each of the Developer and the Company has caused this Agreement to be duly executed in its respective name and on its respective behalf, on or as of the date first above written. 
  

							
		 		 	CYBEX INTERNATIONAL, INC.
				
		 		 	By:	 	 /s/ Arthur W. Hicks, Jr.

		 		 	Name:	 	Arthur W. Hicks, Jr.
		 		 	Title:	 	Executive Vice President
			
		 		 	FIRST INDUSTRIAL DEVELOPMENT SERVICES, INC.
				
		 		 	By:	 	 /s/ Bernard Bak

		 		 	Name:	 	Bernard Bak
		 		 	Title:	 	VP Due Diligence and Investments

 Signature Page for 
 Tri-Party Agreement

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