Document:

Exhibit 10.33

 Exhibit 10.33 

PURCHASE AND SALE AGREEMENT 

BY AND BETWEEN 

BRENTDALE HOLDINGS LIMITED PARTNERSHIP (SELLER) 

AS SELLER 
 AND 

RESOURCE REAL ESTATE OPPORTUNITY OP, LP (PURCHASER) 

AS PURCHASER 
 AND

 REPUBLIC TITLE OF TEXAS, INC. (TITLE COMPANY) 

Dated: July 2, 2013 

 TABLE OF CONTENTS 

 

									
	 1.
	 	 The Property
	  	 	2	  
				
		 	 1.1
	  	 Description
	  	 	2	  
		 	 1.2
	  	 “As-Is” Purchase
	  	 	3	  
		 	 1.3
	  	 Agreement to Convey
	  	 	4	  
		 	 1.4
	  	 Indivisible Package
	  	 	4	  
			
	 2.
	 	 Price and Payment
	  	 	4	  
				
		 	 2.1
	  	 Purchase Price
	  	 	4	  
		 	 2.2
	  	 Payment
	  	 	4	  
		 	 2.3
	  	 Closing
	  	 	5	  
			
	 3.
	 	 Inspections and Approvals
	  	 	5	  
				
		 	 3.1
	  	 Inspections
	  	 	5	  
		 	 3.2
	  	 Title and Survey
	  	 	8	  
		 	 3.3
	  	 Contracts
	  	 	9	  
		 	 3.4
	  	 Permitted Encumbrances
	  	 	10	  
		 	 3.5
	  	 Purchaser’s Right to Terminate
	  	 	10	  
		 	 3.6
	  	 Delivery of Title Policy at Closing
	  	 	11	  
			
	 4.
	 	 Seller’s Covenants for Period Prior to Closing
	  	 	11	  
				
		 	 4.1
	  	 Insurance
	  	 	11	  
		 	 4.2
	  	 Operation
	  	 	11	  
		 	 4.3
	  	 New Contracts
	  	 	11	  
		 	 4.4
	  	 New Leases
	  	 	11	  
			
	 5.
	 	 Representations and Warranties
	  	 	11	  
				
		 	 5.1
	  	 By Seller
	  	 	11	  
		 	 5.2
	  	 By Purchaser
	  	 	12	  
		 	 5.3
	  	 Survival and Limitation of Representations and Warranties; Seller’s Knowledge
	  	 	14	  
		 	 5.4
	  	 No Other Warranties and Representations
	  	 	14	  
		 	 5.5
	  	 No Environmental Representations
	  	 	15	  
			
	 6.
	 	 Costs and Prorations
	  	 	15	  
				
		 	 6.1
	  	 Purchaser’s Costs
	  	 	15	  
		 	 6.2
	  	 Seller’s Costs
	  	 	15	  
		 	 6.3
	  	 Prorations
	  	 	16	  
		 	 6.4
	  	 In General
	  	 	18	  
		 	 6.5
	  	 Purpose and Intent
	  	 	18	  
			
	 7.
	 	 Risk of Loss; Damage, Destruction or Condemnation
	  	 	18	  
				
		 	 7.1
	  	 Risk of Loss
	  	 	18	  
		 	 7.2
	  	 Condemnation
	  	 	19	  
			
	 8.
	 	 Notices
	  	 	20	  

									
	 9.
	 	 Closing and Escrow
	  	 	21	  
				
		 	 9.1
	  	 Escrow Instructions
	  	 	21	  
		 	 9.2
	  	 Seller’s Deliveries
	  	 	21	  
		 	 9.3
	  	 Purchaser’s Deliveries
	  	 	22	  
		 	 9.4
	  	 Possession
	  	 	22	  
		 	 9.5
	  	 Insurance
	  	 	23	  
		 	 9.6
	  	 Other Duties of Escrow Agent
	  	 	23	  
		 	 9.7
	  	 Disputes
	  	 	23	  
			
	 10.
	 	 Default; Failure of Condition
	  	 	23	  
				
		 	 10.1
	  	 Purchaser Default
	  	 	23	  
		 	 10.2
	  	 Seller Default
	  	 	24	  
		 	 10.3
	  	 Failure of Condition
	  	 	24	  
		 	 10.4
	  	 Entire Agreement
	  	 	25	  
		 	 10.5
	  	 Severability; Construction
	  	 	25	  
		 	 10.6
	  	 Applicable Law
	  	 	25	  
		 	 10.7
	  	 Assignability
	  	 	25	  
		 	 10.8
	  	 Successors Bound
	  	 	25	  
		 	 10.9
	  	 No Public Disclosure
	  	 	25	  
		 	 10.10
	  	 Captions
	  	 	26	  
		 	 10.11
	  	 Attorneys’ Fees
	  	 	26	  
		 	 10.12
	  	 No Partnership
	  	 	26	  
		 	 10.13
	  	 Time of Essence
	  	 	26	  
		 	 10.14
	  	 Counterparts
	  	 	26	  
		 	 10.15
	  	 Recordation
	  	 	26	  
		 	 10.16
	  	 Proper Execution
	  	 	26	  
		 	 10.17
	  	 Tax Protest
	  	 	26	  
		 	 10.18
	  	 Brokers
	  	 	27	  
		 	 10.19
	  	 No Processing
	  	 	27	  
		 	 10.20
	  	 Calculation of Time Periods
	  	 	27	  
		 	 10.21
	  	 Section 1031 Exchange
	  	 	27	  
		 	 10.22
	  	 Limitation of Liability
	  	 	28	  
		 	 10.23
	  	 Jury Waiver
	  	 	28	  

 LIST OF EXHIBITS & SCHEDULES 

 

			
	Exhibit A	  	Legal Description
	Exhibit B	  	Personal Property Not Part of Sale
	Exhibit C	  	Rent Roll
	Exhibit D	  	Property Contracts
	Exhibit E	  	Form of Special Warranty Deed
	Exhibit F	  	Form of Bill of Sale
	Exhibit G	  	Form of Assignment of Leases, Service Contracts, Warranties & Other Intangible Property
	Exhibit H	  	FIRPTA Affidavit
	Exhibit I	  	Form of Tenant Notice Letter
	Exhibit J	  	Due Diligence Items
	Exhibit K	  	Litigation
	Exhibit L	  	Owner’s Affidavit

  
 iii 

 KEY DATES & PARTIES 

 

			
	PURCHASER:	  	Resource Real Estate Opportunity OP, LP, a Delaware limited partnership
		
	SELLER:	  	Brentdale Holdings Limited Partnership, a Texas Limited Partnership
		
	PURCHASE PRICE:	  	$32,200,000.00
		
	DEPOSIT:	  	$500,000.00
		
	APPROVAL DATE:	  	July 16, 2013, 5:00 p.m. Eastern Standard Time
		
	CLOSING DATE:	  	July 26, 2013, or if elected by the Purchaser July 25, 2013, provided Purchaser gives written notice to Seller that it wishes to close on July 25, 2013 on or before July 18, 2013
		
	TITLE COMPANY:	  	Republic Title of Texas, Inc.
		
	BROKER:	  	Holliday Fenoglio Fowler, L.P.

  
 1 

 PURCHASE AND SALE AGREEMENT 

THIS PURCHASE AND SALE AGREEMENT (this “Agreement”), dated as of July     , 2013 (the
“Effective Date”), is made by and between BRENTDALE HOLDINGS LIMITED PARTNERSHIP, a Texas limited partnership with an office at 1270 Soldiers Field Road, Boston, MA 02135 (“Seller”) and RESOURCE REAL
ESTATE OPPORTUNITY OP, LP, a Delaware limited partnership with an office at One Crescent Drive, Suite 203, Philadelphia, PA 19112 (“Purchaser”) and Republic Title of Texas, Inc. (“Title Company”), the
consent of which appears at the end hereof. 
 A G R E E M E N T S: 

NOW, THEREFORE, in consideration of the covenants, promises and undertakings set forth herein, and for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, Seller and Purchaser agree as follows: 
 1. THE PROPERTY 

1.1 Description. Subject to the terms and conditions of this Agreement, and for the consideration herein set forth, Seller agrees to
sell and transfer, respectively, and Purchaser agrees to purchase and acquire, all of Seller’s assignable and transferable right, title, and interest in and to the following (collectively, the “Property”): 

(1) That certain parcel of land located at 1515 Rio Grande Drive, Plano, Texas, known as “The Brentdale” and more
particularly described on Exhibit A attached hereto, together with Seller’s interest (if any) in all privileges, rights, easements, streets, alleys, passages, and other rights-of-way or appurtenances to such land
(collectively, the “Land”); 
 (2) The buildings, improvements, parking areas, fixtures and all other
structures owned by Seller and located on the Land (collectively, the “Improvements”); 
 (3) All
furniture, equipment, machinery, supplies, signs and other tangible personal property of every kind and nature, if any, owned by Seller and installed or located at the Land or Improvements (collectively, the “Personal
Property”), except for the personal property listed on Exhibit B attached hereto (“Personal Property Not Part of Sale”); 

(4) All of Seller’s right, title and interest, if any, in all intangible assets of any nature relating to the Land, the
Improvements or the Personal Property, including, without limitation, all of Seller’s right, title and interest, if any, in all (i) warranties, licenses, permits, approvals, development rights, certificates, variances, consents and similar
documents evidencing rights relating to the Land or the Improvements, (ii) logos and trade names currently used in the operation of the Land and Improvements, and (iii) plans, specifications, drawings, surveys, engineering and other design
products, in each case only to the extent that Seller has such items in its possession or within its control (collectively, the “Intangible Property”); 

  
 2 

 (5) All of Seller’s rights, if any, in all the leases or occupancy
agreements, including those in effect on the Effective Date and any new leases entered into pursuant to Section 4.4, which as of the Closing (as hereinafter defined) affect all or any portion of the Land or Improvements (the
“Leases”), and any security deposits actually held by Seller with respect to any such Leases, all as set forth on Exhibit C attached hereto (the “Rent Roll”); and 

(6) All of Seller’s rights, if any, in all service, supply and equipment rental contracts affecting the Land or
Improvements (collectively, the “Property Contracts”) including, without limitation, those Property Contracts listed on Exhibit D attached hereto, to the extent Seller is entitled to transfer the Same to
Purchaser at no cost to Seller, and Purchaser does not elect to have Seller terminate them (at no cost the Seller) in accordance with Section 3.3 below. 

1.2 “As-Is” Purchase. Purchaser acknowledges that the Property is being sold in an “AS IS, WHERE IS” condition and
“WITH ALL FAULTS”. Except as expressly set forth in Section 5 this Agreement, no representations or warranties have been made or are made and no responsibility has been or is assumed by Seller or by any partner, officer,
person, firm, agent, attorney or representative acting or purporting to act on behalf of Seller as to (i) the condition or state of repair of the Property; (ii) the compliance or non-compliance of the Property with any applicable laws,
regulations or ordinances (including, without limitation, any applicable zoning, building or development codes); (iii) the value, expense of operation, or income potential of the Property; (iv) any other fact or condition which has or
might affect the Property or the condition, state of repair, compliance, value, expense of operation or income potential of the Property or any portion thereof; (v) whether the Property contains asbestos or harmful or toxic substances or
pertaining to the extent, location or nature of same; or (vi) any other matter related in any way to the Property. The parties agree that all understandings and agreements heretofore made between them or their respective agents or
representatives are merged in this Agreement and the Exhibits hereto annexed, which alone fully and completely express their agreement, and that this Agreement has been entered into after full investigation, or with the parties satisfied with the
opportunity afforded for full investigation, neither party relying upon any statement or representation by the other unless such statement or representation is specifically embodied in this Agreement or the Exhibits annexed hereto. 

Except with respect to Purchaser’s rights to bring suit against Seller for a breach of Seller’s representations and warranties under
Section 5, Purchaser waives its right to recover from, and forever releases and discharges Seller, Seller’s affiliates, Seller’s investment advisor and manager, the partners, trustees, shareholders, directors, officers, attorneys,
employees and agents of each of them, and their respective heirs, successors, personal representatives and assigns (collectively, the “Releasees”) from any and all demands, claims (including, without limitation, causes of
action in tort), legal or administrative proceedings, losses, liabilities, damages, penalties, fines, liens, judgments, costs or expenses whatsoever (including, without limitation, attorneys’ fees and costs), whether direct or indirect, known
or unknown, foreseen or unforeseen (collectively, “Claims”), that may arise on account of or in any way be connected with the Property, the physical condition thereof, or any law or regulation applicable thereto (including,
without limitation, claims under the Clean Air Act (42 U.S.C. 7401, et seq.), as 

  
 3 

 
amended, the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended (42 U.S.C. Section 9601, et seq.), the Resource Conservation and Recovery Act of
1976 (42 U.S.C. Section 6901, et seq.), as amended, the Clean Water Act (33 U.S.C. Section 1251, et seq.), as amended, the Safe Drinking Water Act (49 U.S.C. Section 1801, et seq.), as amended, the Hazardous
Materials Transportation Act (49 U.S.C. Section 1801, et seq.), as amended, and the Toxic Substances Control Act (15 U.S.C. Section 2601, et seq.). Without limiting the foregoing, Purchaser, upon closing, shall be deemed to
have waived, relinquished and released Seller and all other Releasees from any and all Claims, matters arising out of latent or patent defects or physical conditions, violations of applicable laws (including, without limitation, any environmental
laws) and any and all other acts, omissions, events, circumstances or matters affecting the Property. As part of the provisions of this Section 1.2, but not as a limitation thereon, Purchaser hereby agrees, represents and warrants that
the matters released herein are not limited to matters which are known or disclosed, and, except as provided herein, Purchaser hereby waives any and all rights and benefits which it now has, or in the future may have conferred upon it, by virtue of
the provisions of federal, state or local law, rules and regulations. Purchaser agrees that should any clean-up, remediation or removal of hazardous substances or other environmental conditions on or about the Property be required after the date of
Closing, such clean-up, removal or remediation shall not be the responsibility of Seller, unless such hazardous substance were introduced onto the Property by the Seller. 

1.3 Agreement to Convey. Seller agrees to convey, and Purchaser agrees to accept, title to the Land and Improvements by Special
Warranty Deed in the condition described in Section 3.4 and title to the Personal Property, by Bill of Sale and Assignment of Leases, Service Contracts, Warranties & Other Intangible Property Agreement, without warranty as to
the condition of such personalty. 
 1.4 Indivisible Package. Purchaser has no right to purchase, and Seller has no obligation to
sell, less than all of the Property, it being the express agreement and understanding of the Purchaser and Seller that, as a material inducement to Seller and Purchaser to enter into this Agreement, Purchaser has agreed to purchase, and Seller has
agreed to sell, all of the Property, subject to and in accordance with the terms and conditions hereof. 
 2. PRICE AND PAYMENT. 

2.1 Purchase Price. In consideration of the covenants herein contained, Seller hereby agrees to sell and Purchaser hereby agrees to
purchase the Property for a total purchase price of Thirty Two Million Two Hundred Thousand and 00/100 Dollars ($32,200,000.00) (the “Purchase Price”), which shall be paid by Purchaser as set forth below. 

2.2 Payment. Payment of the Purchase Price is to be made in cash as follows: 

(1) Within one (1) business day of the execution of this Agreement, Purchaser shall deliver to the Title Company by bank
wire of immediately available funds the sum of Five Hundred Thousand and 00/100 Dollars ($500,000.00) (the “Deposit”), as an earnest money deposit. 

  
 4 

 (2) The Deposit will be placed with and held in escrow by the Title Company, in
immediately available funds in an interest-bearing account at a mutually acceptable banking institution. Any interest earned by the Deposit shall be considered as part of the Deposit. Except as otherwise provided in this Agreement, the Deposit will
be applied to the Purchase Price at Closing. 
 (3) Prior to or contemporaneous with the execution hereof by Purchaser and
Seller, Purchaser has paid to Seller $100.00 (the “Independent Contract Consideration”), which amount Seller and Purchaser bargained for and agreed to as consideration for Seller’s execution and delivery of this
Agreement. The Independent Contract Consideration is non-refundable and in addition to any other payment or deposit required by this Agreement, and Seller shall retain the Independent Contract Consideration notwithstanding any other provision of
this Agreement to the contrary. 
 (4) No later than 11:00 a.m. Eastern Standard Time on the day of Closing, Purchaser shall
deliver to the Title Company by bank wire of immediately available funds the balance of the Purchase Price, subject to adjustment for the prorations as provided herein, for disbursement to Seller via wire transfer. 

2.3 Closing. Payment of the Purchase Price and the closing hereunder (the “Closing”) will take place pursuant
to an escrow style closing with the Title Company on or before the Closing Date or at such other time and place as may be agreed upon in writing by Seller and Purchaser. Funds shall be deposited into and held by the Title Company in a closing escrow
account with a bank satisfactory to Purchaser and Seller. All other documents required to be delivered shall be delivered, unless otherwise specified herein, to the Title Company by the Closing. Upon satisfaction or completion of all closing
conditions and deliveries, the parties shall direct the Title Company to immediately record the Deed and deliver the closing documents to the appropriate parties and make disbursements according to the closing statements executed by Seller and
Purchaser. 
 3. INSPECTIONS AND APPROVALS. 

3.1 Inspections. 

(1) Commencing on the Effective Date through the Approval Date, Seller agrees to allow Purchaser and Purchaser’s
engineers, architects, employees, agents and representatives (collectively, “Purchaser’s Agents”) reasonable access, during normal business hours, to the Property and to the records, if any, maintained for Seller by
Seller’s property manager (the “Property Manager”) during normal business hours. Such access shall be solely for the purposes of (i) reviewing Leases and contracts and any records relating thereto;
(ii) reviewing records relating to operating expenses; and (iii) inspecting the physical condition of the Property and conducting non-intrusive physical or environmental inspections of the Property. Purchaser shall not conduct or allow any
testing or air samples at the Property or any physically intrusive testing of, on or under the Property without first obtaining Seller’s written consent as to the timing and scope of work to be performed, and such consent may be granted or
withheld in Seller’s sole and absolute discretion. Purchaser shall execute an access agreement in form and substance reasonably proposed by Seller prior to Purchaser entering onto the Land. 

  
 5 

 (2) Purchaser agrees that, in making any inspections of the Property, Purchaser
and all of Purchaser’s Agents entering onto the Property shall carry not less than $1,000,000 commercial general liability insurance insuring all activity and conduct of Purchaser and such representatives while exercising such right of access
and naming Seller and the Property Manager as additional insureds. Purchaser represents and warrants that it carries not less than $1,000,000 commercial general liability insurance with contractual liability endorsement which insures
Purchaser’s indemnity obligations hereunder, and will provide Seller with written evidence of same prior to entry on the Property. Prior to Purchaser entering upon the Land, Purchaser shall provide a certificate of insurance in form reasonably
satisfactory to Seller evidencing such insurance. 
 (3) Purchaser agrees that in exercising its right of access hereunder,
Purchaser will use and will cause Purchaser’s Agents to use their best efforts not to interfere with the activity of tenants or any persons occupying or providing service at the Property. Purchaser shall, at least twenty-four (24) hours
prior to inspection, give Seller written notice of its intention to conduct any inspections, so that Seller shall have an opportunity to have a representative present during any such inspection. Purchaser shall not contact any tenant at the Property
or any employee of Seller’s property manager without the prior written consent from Seller, which consent shall not be unreasonably withheld and Seller expressly reserves the right to have such a representative present at all inspections of the
Property by Purchaser and any discussions with any tenants or any employees of Seller’s property manager, if Seller so consents. Purchaser agrees to cooperate with any reasonable request by Seller in connection with the timing of any such
inspection. Purchaser agrees (which agreement shall survive Closing or termination of this Agreement) to, within seven (7) days of receipt thereof, provide Seller with a copy of any and all reports generated by Purchaser’s third party
consultants in connection with or resulting from its inspection of the Property and work under Section 3.1 hereof, including, but not limited to, any environmental or property condition reports. 

(4) Unless Seller specifically and expressly otherwise agrees in writing, Purchaser agrees that (a) the results of all
inspections, analyses, studies and similar reports relating to the Property prepared by or for Purchaser utilizing any information acquired in whole or in part through the exercise of Purchaser’s inspection rights; and (b) all information
regarding the Property of whatsoever nature made available to Purchaser by Seller or Seller’s agents or representatives (the information in Section 3.1.4(a) and 3.1.4(b) collectively being referred to herein as, the
“Proprietary Information”) is confidential and shall not be disclosed to any other person except those assisting Purchaser with the transaction, including, but not limited to, third-party investors or potential investors,
lenders or potential lenders, if any, and then only upon Purchaser making such persons aware of the confidentiality restriction (in which event Purchaser shall be responsible for such person’s breach of such confidentially restrictions, as if
such breach were committed by Purchaser). Purchaser agrees not to use or allow to be used any such information for any purpose other than to determine whether 

  
 6 

 
to proceed with the contemplated purchase, or if Closing is consummated, in connection with the operation of the Property post-Closing. Further, if the purchase and sale contemplated hereby fails
to close for any reason whatsoever, Purchaser agrees to return to Seller or destroy all Proprietary Information. Notwithstanding any other term of this Agreement, the provisions of this Section 3.1.4 shall survive the termination of this
Agreement. Notwithstanding the foregoing, Purchaser shall be permitted to disclose Proprietary Information to the extent (i) it is legally required to do so by a court of competent jurisdiction; (ii) the Proprietary Information becomes
publicly available through another source other than Purchaser; 
 (5) Purchaser shall, at its sole cost and expense,
promptly restore any physical damage or alteration of the physical condition of the Property which results from any inspections conducted by or on behalf of Purchaser. All inspections shall be conducted at Purchaser’s sole cost and expense and
in strict accordance with all requirements of applicable law. 
 (6) Seller makes no representations or warranties as to the
truth, accuracy, completeness, methodology of preparation or otherwise concerning any engineering or environmental reports or any other materials, data or other information supplied to Purchaser in connection with Purchaser’s inspection of the
Property (e.g., that such materials are complete, accurate or the final version thereof, or that such materials are all of such materials as are in Seller’s possession). It is the parties’ express understanding and agreement that any
materials which Purchaser is allowed to review are provided only for Purchaser’s convenience in making its own examination and determination prior to the Approval Date as to whether it wishes to purchase the Property, and in doing so, Purchaser
shall rely exclusively on its own independent investigation and evaluation of every aspect of the Property and not on any materials supplied by Seller. Purchaser expressly disclaims any intent to rely on any such materials provided to it by Seller
in connection with its inspection and agrees that it shall rely solely on its own independently developed or verified information and only on representations explicitly set forth in this Agreement. 

(7) PURCHASER AGREES (WHICH AGREEMENT SHALL SURVIVE CLOSING OR TERMINATION OF THIS AGREEMENT) TO INDEMNIFY, DEFEND, AND HOLD
SELLER AND THE PROPERTY MANAGER FREE AND HARMLESS FROM ANY LOSS, INJURY, DAMAGE, CLAIM, LIEN, COST OR EXPENSE, INCLUDING REASONABLE ATTORNEYS’ FEES AND COSTS, ARISING OUT OF A BREACH OF THE FOREGOING AGREEMENTS BY PURCHASER IN CONNECTION WITH
THE INSPECTION OF THE PROPERTY, OR OTHERWISE FROM THE EXERCISE BY PURCHASER OR PURCHASER’S AGENTS OF THE RIGHT OF ACCESS ON THE PROPERTY (COLLECTIVELY, “PURCHASER’S INDEMNITY OBLIGATIONS”). THIS SECTION 3.1.7
SHALL SURVIVE CLOSING OR THE TERMINATION OF THIS AGREEMENT INDEFINITELY. PURCHASER HEREBY ACKNOWLEDGES AND AGREES THAT IN THE EVENT THAT PRIOR TO THE EFFECTIVE DATE, PURCHASER, OR ANY OF ITS EMPLOYEES, AGENTS, CONTRACTORS, CONSULTANTS, OR OTHER

  
 7 

 
REPRESENTATIVES, HAVE ENTERED ONTO THE PROPERTY TO INSPECT, TEST, SURVEY OR OTHERWISE EXAMINE THE PROPERTY, AND THE RECORDS RELATING THERETO, THE INDEMNITY SET FORTH IN THIS SECTION 3.1.7
OF THIS AGREEMENT SHALL APPLY RETROACTIVELY TO THE DATE OF SUCH INSPECTIONS, TESTING, SURVEYING, AND EXAMINATION. 
 (8)
Purchaser shall keep the Property free from any liens arising out of any work performed, materials furnished or obligations incurred by or on behalf of Purchaser or Purchaser’s Agents with respect to any inspection or testing of the Property.
If any such lien at any time shall be filed, Purchaser shall cause the same to be discharged of record within ten (10) days thereafter by satisfying the same. Failure by Purchaser to discharge such lien shall be a material breach of this
Agreement. 
 (9) In connection with Purchaser’s review of the Property, to the extent in the Seller’s possession,
Seller has delivered to Purchaser or made available to Purchaser at the Property the due diligence items (hereinafter, the “Due Diligence Items”) more particularly described on Exhibit “J” attached
hereto, without any representation as to the accuracy or completeness of the same. Notwithstanding the foregoing, the documentation in Exhibit “J” that is not currently available because it relates to the time period
“through the date of sale” shall (i) be delivered by Seller to Purchaser when such information becomes available and the obligation of Seller to deliver such information to Purchaser shall survive the Closing and (ii) be used by
Purchaser solely to satisfy Purchaser’s reporting requirements. 
 (10) Except as set forth on Exhibit
“J” attached hereto, Purchaser understands that any financial statements and data, including, without limitation, gross rental income, operating expenses and cash flow statements, which may be made available by Seller to Purchaser,
will be unaudited financial statements and data not prepared or reviewed by independent public accountants, and that Seller makes no representation as to the accuracy or completeness thereof. 

3.2 Title and Survey. No later than two (2) business days from the Effective Date, Purchaser shall order, and upon receipt, cause
a copy to be delivered to Seller, a commitment for title insurance on the Land, together with copies of all items shown as exceptions to title therein (the “Title Commitment”), issued by a title insurance company acceptable
to Purchaser (the “Title Company”). In addition, Seller shall promptly provide copies of the existing surveys of the Land to Purchaser (the “Survey”) to the extent in Seller’s possession.
Purchaser, at its sole cost and expense, shall arrange for any update to the Survey and upon receipt, shall promptly provide copies thereof to Seller. Purchaser shall have until July 23, 2013 (the “Title Notice Date”) to
provide written notice to Seller of any matters shown by the Title Commitment or Survey which are not satisfactory to Purchaser, in Purchaser’s sole discretion, which notice (the “Title Notice”) must specify the reason
such matter(s) are not satisfactory and the curative steps necessary to remove the objections stated in the Title Notice (collectively, the “Title Objections”). Seller shall have until the day that is one (1) business
days following receipt of the Title Notice to notify Purchaser of any Title Objections contained in Purchaser’s Titles 

  
 8 

 
Notice which Seller is not willing to cure or cause the Title Company to insure over (“Seller’s Response Title Notice”). In the event Seller fails to deliver
Seller’s Response Title Notice, Seller shall be deemed to have notified Purchaser that Seller is not willing to cure, or cause the Title Company to insure over, any of the Title Objections contained in Purchaser’s Title Notice. In the
event Seller is unable or unwilling or is deemed to be unwilling to cure or cause the Title Company to insure over all of the Title Objections, Purchaser may (as its sole and exclusive remedy), within one (1)) business days of Purchaser’s
receipt of the Seller’s Response Title Notice, terminate this Agreement by delivering written notice thereof to Seller (the “Purchaser Title Election”), in which event Purchaser shall receive a return of the Deposit. Seller
shall have no obligation whatsoever to expend or agree to expend any funds, to undertake or agree to undertake any obligations or otherwise to cure or agree to cure any Title Objections, and Seller shall not be deemed to have any obligation to cure
any Title Obligations unless Seller expressly undertakes such an obligation in Seller’s Response Title Notice. Purchaser’s sole right with respect to any Title Objection shall be to (i) submit the Purchaser Title Election within the
period set forth above pursuant to which the Agreement shall be terminated and Purchaser shall receive a refund of the Deposit, or (ii) waive such Title Objections and proceed to Closing without any abatement or reduction in the Purchase Price
on account of such Title Objections. All matters shown on the Title Commitment and/or Survey and any update thereof with respect to which Purchaser fails to give a Title Notice on or before the last date for so doing, or with respect to which a
timely Title Notice is given but Seller fails to undertake an express obligation to cure as provided above, shall be deemed to be approved by Purchaser and shall constitute a Permitted Encumbrance (as defined below) as provided in
Section 3.4 hereof, subject, however, to Purchaser’s termination right provided above in this Section 3.2. If, despite reasonable efforts consistent with the foregoing provisions of this Section 3.2, Seller
is unable to cure any title or survey objection made by Purchaser in the Title Notice which Seller agreed to cure, or any encumbrance which arises after the expiration of the Approval Period other than a Permitted Encumbrance (as defined below), in
each case prior to the scheduled Closing Date, and such title or survey objection or encumbrance can reasonably be cured within thirty (30) days of the scheduled Closing Date with reasonable efforts, Seller shall have the right to extend the
Closing Date for a period of up to thirty (30) days exercisable by written notice to the Purchaser (an “Extension Notice”) in order to provide additional time for such cure. Upon exercise of any such extension right, the
term “Closing Date” as used herein shall mean the date set forth in such Extension Notice. 
 3.3 Contracts. On or before
the Approval Date, Purchaser shall notify Seller in writing if Purchaser elects not to assume at Closing any of the service, maintenance, supply or other contracts relating to the operation of the Property which are identified on Exhibit
D attached hereto. Prior to Closing, Seller shall give notice of termination of such disapproved contract(s) to each such vendor; provided, if by the terms of the disapproved contract Seller has no right to terminate the same on or prior to
Closing, or if any fee or other compensation is due thereunder as a result of such termination, Purchaser shall be required at closing to assume all obligations thereunder until the effective date of the termination and to assume the obligations to
pay or reimburse Seller for the payment of any termination charge incurred in connection therewith. 

  
 9 

 3.4 Permitted Encumbrances. Unless Purchaser terminates this Agreement pursuant to
Sections 3.2 or 3.5 hereof following its opportunity to fully inspect the Property and the state of title thereto and all other matters relating to the Property, including its feasibility for Purchaser’s intended use and its
suitability as an investment, Purchaser shall be deemed to have approved and to have agreed to purchase the Property subject to the following: 

(1) All exceptions (including printed exceptions) to title shown in the Title Commitment other than Title Objections identified
and not thereafter waived by Purchaser; 
 (2) All matters, rights, interests, discrepancies, conflicts in boundary lines,
shortages in area, encroachments, and any state of facts shown on the Survey. 
 (3) All Property Contracts being assumed by
Purchaser and new contracts and new leases which Purchaser has approved or is deemed to have approved pursuant to Sections 4.3 and 4.4 hereof; 

(4) The lien of non-delinquent real and personal property taxes and all assessments and
unpaid installments thereof which are not delinquent; 
 (5) All Leases and rights of possession of the tenants under the
Leases; 
 (6) Rights of vendors and holders of security interests on personal property installed upon the Property by
tenants and rights of tenants to remove trade fixtures at the expiration of the term of the leases of tenants; and 
 (7) Any
other lien, encumbrance, easement or other exception or matter voluntarily imposed or consented to by Purchaser prior to or as of the Closing. 
 All of the
foregoing are referred to herein collectively as “Permitted Encumbrances.” Notwithstanding the foregoing, the Permitted Encumbrances shall not include any mortgage or deed of trust that was granted by Seller and that
encumbers the Land. 
 3.5 Purchaser’s Right to Terminate. Subject to Purchasers’ right to terminate this Agreement at a
later date pursuant to Sections 3.2, 7.1, 7.2, 10.2 and 10.3, if, as a result of its various investigations, Purchaser determines, in its sole discretion, not to proceed with the purchase of the Property, Purchaser
shall have the right by giving Seller written notice (the “Termination Notice”) on or before 5:00 P.M. Eastern Standard Time on July 16, 2013 (the “Approval Date”) to terminate its obligation to
purchase the Property. If the Termination Notice is timely given (i) due to Purchaser’s disapproval of the environmental condition of the Property, Seller shall direct the Title Company to promptly return the Deposit to Purchaser or
(ii) due to any other reason, Seller shall direct the Title Company to promptly return $450,000 of the Deposit to Purchaser and shall be entitled to receive $50,000 of the Deposit; and in either case, neither party shall have any further
liability hereunder other than continuing obligations under Sections 3.1.(4) and 3.1.(7) that survive the Closing or termination of this Agreement (the “Surviving Obligations”). If the Termination Notice is not
timely given to Seller, the Deposit shall be non-refundable to Purchaser and the Purchaser shall have no further right to terminate this Agreement except as provided under Sections 3.2, 7.1, 7.2, 10.2 and 10.3 hereof. 

  
 10 

 3.6 Delivery of Title Policy at Closing. Delivery of title in accordance with this
Agreement shall be evidenced by the willingness of the Title Company to issue, at Closing, its Owner’s ALTA Policy of Title Insurance in the amount of the Purchase Price showing title to the Real Property vested in Purchaser, subject to items
(1), (2), (4), (5) and (7) of the Permitted Encumbrances (the “Title Policy”). Purchaser may request such other endorsements to the Title Policy provided that the issuance of such endorsements shall not be a
condition to Purchaser’s obligations hereunder. Seller shall pay the costs of the Owner’s Title Policy premium, but only to the extent such cost shall be at the rates customarily charged by the Title Company therefore, and Purchaser shall
pay the cost for all endorsements and any special premium attributable to the obtainment of the affirmative insurance. Seller shall have no obligation to provide any indemnity or agreement to the Title Company or Purchaser to support the issuance of
the Title Policy or any such endorsements other than an Owner’s affidavit in the form of Exhibit “L” attached hereto (the “Owner’s Affidavit”). 

4. SELLER’S COVENANTS FOR PERIOD PRIOR TO CLOSING. Until Closing, Seller or Seller’s agent shall: 

4.1 Insurance. Keep the Property insured under its current or comparable policies. 

4.2 Operation. Operate and maintain the Property substantially in accordance with Seller’s past practices with respect to the
Property, normal wear and tear excepted. 
 4.3 New Contracts. Enter into only those third-party service contracts which are
reasonably necessary to carry out its obligations under Section 4.2 or which shall be cancelable on thirty (30) days written notice. If Seller enters into any such contract, it shall promptly provide written notice thereof to
Purchaser and unless Purchaser, within three (3) days thereafter, notifies Seller in writing of its intention to not assume such contract, it shall be treated as a contract approved by Purchaser under Section 3.3 hereof. 

4.4 New Leases. From the Effective Date until the Closing, Seller may not lease, rent or otherwise permit any person or persons to
occupy any portion of the residential elements of the Property other than pursuant to leases or lease extensions executed in the ordinary course of business and in accordance with Seller’s current leasing parameters and policies. 

5. REPRESENTATIONS AND WARRANTIES. 
 5.1
By Seller. Seller represents and warrants to Purchaser as follows: 
 (1) Seller is duly organized and validly
existing under the laws of the State of Texas, is authorized to do business in Texas, has duly authorized the execution and performance of this Agreement, and such execution and performance will not violate any material term of its articles of
incorporation or bylaws. 

  
 11 

 (2) Performance of this Agreement will not result in any breach of, or constitute
any default under, or result in the imposition of any lien or encumbrance upon the Property under, any agreement to which Seller is a party. 

(3) Except as set forth on Exhibit “K” (the “Litigation”) attached hereto, there is no
material litigation, or to the best of Seller’s knowledge, material pending litigation, affecting the Property which litigation is not covered by insurance or which could have a material adverse effect on the Property or Seller’s ability
to consummate the transactions contemplated hereby; 
 (4) To the best of Seller’s knowledge, Seller has not received
any written notice from any governmental authority of a violation of any governmental requirements (including environmental laws) on the Property which has not been remedied or of any proposed condemnation or exercise of eminent domain of the
Property. 
 (5) The Rent Roll and list of Property Contracts attached hereto are true, correct and complete in all material
respects. 
 (6) Seller is not a “foreign person” within the meaning of Sections 1445 and 7701 the Internal Revenue
Code of 1986, as amended (hereinafter, the “Code”). 
 (7) Seller (a) is not acting, directly or
indirectly for, or on behalf of, any person, group, entity or nation named by any Executive Order (including the September 24, 2001, Executive Order Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or
Support Terrorism) or the United States Treasury Department as a terrorist, “Specially Designated National and Blocked Person,” or other banned or blocked person, entity, or nation pursuant to any law that is enforced or administered by
the Office of Foreign Assets Control, and is not engaging in this transaction, directly or indirectly, on behalf of, or instigating or facilitating this transaction, directly or indirectly, on behalf of, any such person, group, entity or nation;
(b) is not engaging in this transaction, directly or indirectly, in violation of any laws relating to drug trafficking, money laundering or predicate crimes to money laundering; (c) none of the funds of Seller have been or will be derived
from any unlawful activity with the result that the investment of direct or indirect equity owners in Seller is prohibited by law or that the transaction or this Agreement is or will be in violation of law; and (d) Seller has and will continue
to implement procedures, and has consistently and will continue to consistently apply those procedures, to ensure the foregoing representations and warranties remain true and correct at all times prior to Closing. 

5.2 By Purchaser. Purchaser represents and warrants to Seller as follows: 

(1) Purchaser is duly organized, validly existing and in good standing under the laws of the State of Delaware, is authorized
to do business in Texas, has duly authorized the execution and performance of this Agreement, and such execution and performance will not violate any material term of its organizational documents. 

  
 12 

 (2) Purchaser is acting as principal in this transaction with authority to close
the transaction. 
 (3) No petition in bankruptcy (voluntary or otherwise), assignment for the benefit of creditors, or
petition seeking reorganization or arrangement or other action under federal or state bankruptcy laws is pending against or contemplated by Purchaser. 

(4) Purchaser acknowledges that, by the Closing Date, Purchaser will have had sufficient opportunity to inspect the Property
fully and completely at its expense in order to ascertain to its satisfaction the extent to which the Property complies with applicable zoning, building, environmental, health and safety and all other laws, codes and regulations. 

(5) Purchaser acknowledges that, by the Closing Date, Purchaser will have had sufficient opportunity to review the Leases,
Property Contracts, the Diligence Items (as hereinafter defined) expenses and other matters relating to the Property in order to determine, based upon its own investigations, inspections, tests and studies, whether to purchase the Property and to
assume Seller’s obligations under the Leases, Property Contracts and otherwise with respect to the Property. Purchaser is experienced in and knowledgeable about the ownership and management of real estate, and it has relied and will rely
exclusively on its own consultants, advisors, counsel, employees, agents, principals and/or studies, investigations and/or inspections with respect to the Property, its condition, value and potential. Purchaser agrees that, notwithstanding the fact
that it has received certain information from Seller or its agents or consultants, Purchaser has relied solely upon and will continue to rely solely upon its own analysis and will not rely on any information provided by Seller or its agents or
consultants, except as expressly set forth in Section 5.1 
 (6) Neither Purchaser nor any person, group, entity
or nation that Purchaser is acting, directly or indirectly for, or on behalf of, is named by any Executive Order (including the September 24, 2001, Executive Order Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten
to Commit, or Support Terrorism) or the United States Treasury Department as a terrorist, “Specially Designated National and Blocked Person,” or is otherwise a banned or blocked person, group, entity, or nation pursuant to any law that is
enforced or administered by the Office of Foreign Assets Control, and Purchaser is not engaging in this transaction, directly or indirectly, on behalf of, or instigating or facilitating this transaction, directly or indirectly, on behalf of, any
such person, group, entity or nation. Purchaser is not engaging in this transaction, directly or indirectly, in violation of any laws relating to drug trafficking, money laundering or predicate crimes to money laundering. None of the funds of
Purchaser have been or will be derived from any unlawful activity with the result that the investment of direct or indirect equity owners in Purchaser is prohibited by law or that the transaction or this Agreement is or will be in violation of law.
Purchaser has and will continue to implement procedures, and has consistently and will continue to consistently apply those procedures, to ensure the foregoing representations and warranties remain true and correct at all times prior to Closing.

  
 13 

 5.3 Survival and Limitation of Representations and Warranties; Seller’s Knowledge.
Seller’s representations and warranties set forth in this Section 5 are made as of the Effective Date and are remade as of the Closing Date and Section 5.1 shall survive the Closing provided that
(i) such representations and warranties shall cease and terminate four (4) months after the date of Closing, except in respect of any representation or warranty as to which Purchaser shall have commenced, on or before such four
(4) month anniversary, a legal proceeding based on the breach thereof as of the date of Closing, and then only for so long as such proceeding shall continue and limited to the breach therein claimed, (ii) Seller shall have no
liability to Purchaser with respect thereto unless and until the damages suffered by Purchaser as a result thereof shall equal or exceed $10,000 in the aggregate, and (iii) the maximum total liability for which Seller shall be
responsible with respect to all representations and warranties shall not exceed Three Hundred Thousand and 00/100 Dollars ($300,000.00) in the aggregate and recovery of actual damages up to that amount is Purchaser’s sole and exclusive remedy
for any such breach. Seller shall have no liability to Purchaser for matters disclosed by Seller or discovered by Purchaser prior to Closing. If Seller has actual knowledge that any of Seller’s representations and warranties contained in this
Section 5 may cease to be true, Seller shall give prompt notice to Purchaser (which notice shall include copies of the instrument, correspondence, or document, if any, upon which Seller’s notice is based). To the extent Purchaser
has or acquires actual knowledge prior to the Approval Date that Seller’s representations and warranties are inaccurate, untrue or incorrect in any way, such representations and warranties shall be deemed modified to reflect Purchaser’s
knowledge . For matters disclosed or discovered prior to Closing, Purchaser’s sole rights and remedies shall be as set forth in Section 10.3. Whenever a representation or warranty is made in this Agreement on the basis of the
knowledge of Seller or words to similar effect, such representation and warranty is made solely on the basis of the actual knowledge without inquiry or investigation of Tom Taranto, Director of Asset Management with Intercontinental Real Estate
Corporation provided, however, that such individual shall have no personal liability with respect to any such representation or warranty. The provisions of this Section 5.3 shall survive the Closing. 

5.4 No Other Warranties and Representations. Except as specifically set forth in this Section 5, neither Seller nor
Property Manager has made, makes or has authorized anyone to make, any warranty or representation as to the Leases, the Property Contracts, any written materials delivered to Purchaser, the persons preparing such materials, the truth, accuracy or
completeness of such materials, the present or future physical condition, development potential, zoning, building or land use law or compliance therewith, the operation, income generated by, or any other matter or thing affecting or relating to the
Property or any matter or thing pertaining to this Agreement. Purchaser expressly acknowledges that no such warranty or representation has been made and that Purchaser is not relying on any warranty or representation whatsoever other than as is
expressly set forth in this Section 5. Purchaser hereby acknowledges and agrees that SELLER HAS NOT MADE, DOES NOT MAKE AND SPECIFICALLY NEGATES AND DISCLAIMS ANY REPRESENTATIONS, WARRANTIES OR GUARANTIES OF ANY KIND OR CHARACTER
WHATSOEVER, WHETHER EXPRESS OR IMPLIED, ORAL OR WRITTEN, PAST, PRESENT, FUTURE OR OTHERWISE, OF, AS TO, CONCERNING OR WITH RESPECT TO, THE PROPERTY OTHER THAN AS EXPRESSLY SET FORTH HEREIN. 

  
 14 

 5.5 No Environmental Representations. Seller makes no representations or warranties as to
whether the Property contains asbestos, radon or any hazardous materials or harmful or toxic substances, or pertaining to the extent, location or nature of same, if any. Further, to the extent that Seller has provided to Purchaser information from
any inspection, engineering or environmental reports concerning asbestos, radon or any hazardous materials or harmful or toxic substances, Seller makes no representations or warranties with respect to the accuracy or completeness, methodology of
preparation or otherwise concerning the contents of such reports. 
 6. COSTS AND PRORATIONS 

6.1 Purchaser’s Costs. Purchaser shall pay the following costs of closing this transaction: 

(1) All costs of Purchaser’s due diligence, including but not limited to, the fees and disbursements of its counsel,
inspecting architect and engineer and any other consultants engaged by Purchaser; 
 (2) Any and all sales or use taxes
relating to the transfer of personal property to Purchaser; 
 (3) With respect to the Title Policy, the cost of, all
endorsements, any special premium attributable to the obtaining of affirmative coverage, and any extended title insurance coverage; the cost of any lender’s title insurance policy and all lender title policy endorsements; 

(4) One half of all escrow or closing agent fees; 

(5) All costs relating to the Survey, including, without limitation, its update, recertification or changes thereto or any new
survey obtained by Purchaser; 
 (6) Any documentary stamp or transfer tax; 

(7) The cost of recording the deed or any other instruments; and 

(8) Any other expense(s) incurred by Purchaser or its representative(s) in inspecting or evaluating the Property or closing
this transaction including but not limited to the cost any new Survey or update of the Survey or any new or updated environmental reports. 

6.2 Seller’s Costs. Seller shall pay the following costs of closing this transaction: 

(1) The fees and disbursements of Seller’s counsel; 

(2) One half of all escrow or closing agent fees; 

(3) The premium for the Title Policy (excluding the cost of, all endorsements, any special premium attributable to the
obtaining of affirmative coverage, and any extended title insurance coverage; the cost of any lender’s title insurance policy and all lender title policy endorsements); 

  
 15 

 All other costs not included herein shall be paid according to local custom. 

6.3 Prorations. At least four (4)    days prior to the Closing, Seller shall determine the amounts of prorations in
accordance with this Agreement and notify Purchaser thereof. Purchaser shall review and approve such determination at least two (2) business days prior to Closing. Thereafter, Purchaser and Seller shall each inform the Title Company. The
following prorations shall be made effective as of the Closing Date: 
 6.3.1 Proration Date. All prorations shall be
made as of 12:01 a.m., according to the time zone in which the Land is located, on the Closing Date as if Purchaser were vested with title to the Property during the entire Closing Date, so that all items of income and operating expenses for the
Closing Date shall be allocated to the Purchaser. 
 6.3.2 Rents. All rents under the Leases for the month in which
Closing occurs that are actually received by Seller shall be prorated as of the Closing Date. All advance payments of rents, other than for the month in which Closing occurs, and all security deposits, not applied, shall be a credit to the Purchaser
at Closing. All rents or other amounts owed for the period of Seller’s ownership of the Property shall remain the property of Seller, and Purchaser shall use reasonable efforts, at no material out of pocket cost to Purchaser (not to include
commencing any eviction action or other litigation to collect such delinquency) to collect such rents and other amounts for the benefit of Seller after Closing and shall cooperate with Seller in the collection of any such amounts owed to Seller.
Seller shall retain the right to pursue all remedies (excluding eviction of tenants or termination of any Lease) against tenants to collect such rents and other amounts owed to Seller. Seller will cause to be paid or turned over to Purchaser all
rents, if any, received by Seller after Closing and attributable to any period following the Closing. All rent received by Purchaser after the Closing Date shall be applied first to current rentals and then to delinquent rentals in the inverse order
of maturity. Purchaser shall cause to be paid or turned over to Seller all rents received by Purchaser after Closing and attributable to any period prior to Closing, subject to the provisions of the immediately preceding sentence. 

6.3.3 Security Deposits. At Closing, Purchaser will be credited with all cash security deposits held by Seller less any
portion of such security deposits applied by Seller in accordance with the terms under the Leases. Seller will use commercially reasonable efforts, at no material out of pocket cost and expense to Seller, to cause Purchaser to be named as
beneficiary under any letters of credit at Closing or as soon thereafter as practicable. Purchaser will not receive a credit at Closing for such letters of credit, if any. 

6.3.4 Real Estate Taxes. All real estate taxes which are due and payable during the calendar year in which the Closing
occurs and annual municipal or special assessments, if any. If the Closing shall occur before the tax rate or the assessed 

  
 16 

 
valuation of the Property is fixed for the then current year, the apportionment of taxes shall be upon the basis of the tax rate for the preceding year applied to the latest assessed valuation.
Subsequent to the Closing, when the tax rate and the assessed valuation of the Property is fixed for the year in which the Closing occurs, the parties agree to adjust the proration of taxes and, if necessary, to refund or repay such sums as shall be
necessary to effect such adjustment. 
 (1) Prepaid Taxes. If any portion of any assessments against the Property
other than taxes that are paid by Seller with respect to the Property at or prior to the Closing, relate to any time including on or after the Closing Date, Purchaser shall pay to Seller at the Closing the amount of such other assessments paid
prorated for the number of days, from, including and after the Closing. 
 (2) Tax Refunds. All refunds of taxes
received by Seller or Purchaser after the Closing with respect to the Property (“Tax Refund”) shall be applied (A) first, to Seller or Purchaser, as the case may be, to the extent of third party expenses incurred by
either party in protesting and obtaining such Tax Refund, (B) second, to Purchaser to the extent that such Tax Refund is required to be paid to (or credited against other amounts payable by) the Tenants under the Leases, and (C) third,
(x) to Seller if such Tax Refund is for any period which ends before the Closing Date and (y) to Purchaser if such Tax Refund is for any period which commences on or after the Closing Date. If Seller or Purchaser receives any Tax Refund,
then each shall retain or pay such amounts (or portions thereof) in order that such payments are applied in the manner set forth in this Subsection. Purchaser hereby agrees to execute all consents, receipts, instruments and documents which may
reasonably be requested in order to facilitate settling any certiorari proceeding commenced by Seller prior to the Closing Date and collecting the amount of any Tax Refund. 

(3) Installments. To the extent that taxes include special assessments or installments of special assessments, for the
purpose of this Section 6.3.4, Seller’s prorated portion of such assessments shall be determined assuming payment over the longest period of time permitted by the applicable taxing authorities. 

6.3.5 Utilities. Final readings and final billings for utilities will be made, if possible, as of the day preceding
Closing or as close to Closing as reasonably possible, in which event no proration will be made at Closing with respect to utility bills. If final readings and final billings for utilities are not available as of the day prior to Closing or a
reasonable time prior to Closing, the parties shall prorate the utility bills based on the most recent utility bills, and upon receipt of the actual utility bills which include the Closing Date and to the extent that the amounts apportioned at
Closing differ, Seller and Purchaser shall make all necessary adjustments by appropriate payments between themselves following Closing. Purchaser, with the reasonable cooperation of Seller, shall be responsible for the necessary actions needed to
arrange for utilities to be transferred to the name of Purchaser on the Closing, including the posting of any required deposits and Seller shall be entitled to recover and retain from the providers of such utilities any refunds or overpayments to
the extent applicable to the period prior to the Closing, and any utility deposits which it or its predecessors may have posted. 

  
 17 

 6.3.6 Property Contract Charges. Charges with respect to Property
Contracts and personal property leases transferred and assigned to Purchaser shall be prorated as of the Closing Date. To the extent not reflected in the closing statements evidencing the sale of the Property to Purchaser, Purchaser and Seller agree
to adjust between themselves outside of Closing any amounts which are the responsibility of the other party pursuant to this subsection. 

6.3.7 Miscellaneous Operating Income and Expense. Except as otherwise provided herein, all other income or operating
expenses relating to the operation of the Property (including, but not limited to common area reimbursements) will be prorated at the Closing, effective as of the Closing Date. 

6.3.8 Insurance Not Prorated. Seller and Purchaser agree that upon the Closing, none of the insurance policies relating
to the Property will be assigned to Purchaser and Purchaser shall responsible for arranging for its own insurance as of the Closing. Accordingly, there will be no prorations for insurance. 

6.3.9 The agreements in this Section 6.3 shall survive Closing. Final settlement of all prorated items shall occur
on or before the date that is ninety (90) days following the Closing Date, except for delinquent rentals and property taxes, if final determination thereof is not possible by said date, in such case each shall be determined upon collection or
the date upon which any such amounts shall become ascertainable. Purchaser and Seller shall cooperate and take all appropriate action to properly reconcile delinquent rentals with each other and with the tenants in a timely manner. 

6.4 In General. Any other costs or charges of closing this transaction not specifically mentioned in this Agreement shall be paid and
adjusted in accordance with local custom in the County in which the Land is located. All prorations shall be made on a 365-day calendar year basis, based on the actual number of days in the applicable month. 

6.5 Purpose and Intent. Except as expressly provided herein, the purpose and intent as to the provisions of prorations and
apportionments set forth in this Section 6 and elsewhere in this Agreement is that Seller shall bear all expenses of ownership and operation of the Property and shall receive all income therefrom accruing through midnight at the end of
the day preceding the Closing Date and Purchaser shall bear all such expenses and receive all such income accruing thereafter. 
 7. RISK OF LOSS;
DAMAGE, DESTRUCTION OR CONDEMNATION 
 7.1 Risk of Loss. In the event that all or a portion of the Improvements are damaged or
destroyed by fire or other casualty prior to the Closing Date such that the reasonably estimated cost to repair the same exceeds ten (10%) of the Purchase Price, then Purchaser may, at Purchaser’s sole option, elect to either: 

 

	 	(a)	terminate this Agreement and receive back the Deposit, whereupon Seller and Purchaser shall have no further obligations or liabilities to each other under this Agreement except as otherwise provided herein; or

  

	 	(b)	close the transaction contemplated by this Agreement. 

  
 18 

 In all other cases or, if Purchaser elects to proceed pursuant to Section 7.1(b),
Purchaser shall purchase the Property in accordance with the terms hereof except that (i) the Purchase Price shall be reduced by the amount of any applicable insurance deductible with respect to any damage or destruction of the Improvements by
fire or other casualty (or such lesser amount as Purchaser and Seller reasonably agree to be necessary to repair the damage), and (ii) Seller shall assign to Purchaser at Closing all insurance proceeds payable on account of such damage (less
Seller’s reasonable cost to secure the same and less repair costs incurred by Seller with respect to such damage as documented to Purchaser’s reasonable satisfaction) and deliver to Purchaser any insurance proceeds previously paid to
Seller on account of such damage and not already expended toward Seller’s reasonable cost of securing the same or restoration of the Improvements. Purchaser shall be deemed to have elected to proceed under Section 7.1(b) unless,
within five (5) calendar days from Purchaser’s receipt of written notice from Seller of such casualty, Purchaser provides Seller with written notice that Purchaser elects to terminate this Agreement pursuant to Section 7.1(a).

 7.2 Condemnation. In the event that all or a material portion of the Property should be condemned or becomes the subject of
condemnation proceedings or a written threat of condemnation proceedings prior to the Closing such that the reasonably estimated loss of value as a result thereof exceeds ten (10%) of the Purchase Price, Purchaser may, at Purchaser’s sole
option, elect either to: 
  

	 	(a)	terminate this Agreement and receive back the Deposit, whereupon Seller and Purchaser shall have no further obligations or liabilities to each other under this Agreement except as otherwise provided herein; or

  

	 	(b)	close the transaction contemplated by this Agreement. 

 In all other cases, or if Purchaser
elects to proceed under Section 7.2(b), Purchaser shall purchase the Property in accordance with the terms hereof (without reduction in the Purchase Price) and Seller shall assign to Purchaser at Closing all condemnation proceeds payable
and still outstanding as a result of such condemnation (less Seller’s reasonable cost to secure the same and less repair costs incurred by Seller with respect to such taking as documented to Purchaser’s reasonable satisfaction) and deliver
to Purchaser any condemnation proceeds previously paid to Seller on account of such condemnation (less Seller’s reasonable cost to secure the same). Purchaser shall be deemed to have elected to proceed under Section 7.2(b) unless,
within five (5) days of notice from Seller of the condemnation or condemnation proceedings or threat of condemnation proceedings, Purchaser provides Seller with written notice that Purchaser elects to terminate this Agreement pursuant to
Section 7.2(a). 

  
 19 

 8. NOTICES 

Any notices required or permitted to be given hereunder shall be given in writing and shall be delivered (a) upon the delivery (or refusal to accept
delivery) by messenger or overnight express delivery service (of, if such date is not on a business day, on the business day next following such date; or (b) on the third (3rd) business
day next following the date of its mailing by certified mail, postage prepaid, return receipt requested; or (c) upon the facsimile transmission as evidenced by a receipt report (followed by the delivery by one of the other means identified in
(a) or (b) above; (d) upon the receipt of an electronic email transmission, following by delivery by of the other means identified in (a) or (b) above, and such notices shall be addressed as follows: 

 

			
	If to Seller:	  	 Intercontinental Real Estate Corporation

1270 Soldiers Field Road
 Boston, MA 02135

Attention: Tom Taranto
 Telephone: 617-782-2600

Fax: 617-782-9442

		
		  	And
		
		  	 Ted Broadfoot
 SVP of Operations and Asset
Management
 Pinnacle Family of Companies
 5055 Keller Springs
Rd. Suite 400
 Addison, TX 75001
 P: 214-891-7802 /
C:214-766-1517
 tbroadfoot@pinnaclefamily.com

		
	With a copy to:	  	 Bradley & Associates
 1270 Soldiers
Field Road
 Boston, Massachusetts 02135
 Attention: Andrea
Salvi, Esq.
 Telephone: 617-782-2600
 Fax:
617-782-9442

  
 20 

			
	If to Purchaser:	  	 Resource Real Estate Opportunity OP, LP
 One
Crescent Drive, Suite 203
 Philadelphia, PA 19112
 Attention:
Marshall Hayes
 Telephone: 303-209-6351
 Fax:
215-553-8409

		
	With a copy to:	  	
		  	 Resource Real Estate Inc.
 One Crescent Drive,
Suite 203
 Philadelphia, PA 19112
 Attention: Shelle
Weisbaum
 Telephone: 215-832-4187
 Fax:
215-761-0452

		
	 If to Title Company to:
	  	 Republic Title of Texas, Inc.
 Commercial
Division
 2626 Howell Street, 10th Floor
 Dallas, Texas
75204
 Attention: Nancy Colaluca
 Telephone: 214-855-8855

Fax: 972-516-2506

 Either party may, by notice given as aforesaid, change the address of addresses, or designate an additional address or
additional addresses, for its notices, provided, however, that no notice of a change of address shall be effective until actual receipt of such notice. 

9. CLOSING AND ESCROW. 
 9.1 Escrow
Instructions. Upon execution of this Agreement, the parties shall deliver an executed counterpart of this Agreement to the Title Company to serve as the instructions to the Title Company as the escrow holder for consummation of the transaction
contemplated herein. Seller and Purchaser agree to execute such additional and supplementary escrow instructions as may be appropriate to enable the Title Company to comply with the terms of this Agreement; provided, however that in the event of any
conflict between the provisions of this Agreement and any supplementary escrow instructions, the terms of the Agreement shall prevail. 

9.2 Seller’s Deliveries. At or before the Closing, Seller shall deposit into escrow, or make available at the property, as
applicable, the following items: 
 (1) a Special Warranty Deed to the Property, in the form attached hereto as
Exhibit E, subject to the Schedule B exceptions to the Title Policy and other matters subsequently approved by Purchaser or Purchaser’s counsel; 

  
 21 

 (2) four (4) duly executed counterparts of the Bill of Sale in the form
attached hereto as Exhibit F (the “Bill of Sale”); 
 (3) four (4) duly
executed counterparts of the Assignment and Assumption of Leases, Service Contracts, Warranties and Other Intangible Property Agreement in the form attached hereto as Exhibit G (the “Assignment of Leases”);

 (4) an affidavit pursuant to Section 1445(b)(2) of the Code, and on which Purchaser is entitled to rely, that Seller
is not a “foreign person” within the meaning of Section 1445(f)(3) of the Code in the form attached hereto as Exhibit H (the “FIRPTA Affidavit”); 

(5) a letter notifying tenants of the conveyance of the Property in the form attached hereto as Exhibit I;

 (6) originals of the Leases which are still in effect as of the Closing, and to the extent originals are not available,
copies shall suffice; 
 (7) the Owner’s Affidavit in the form attached hereto as Exhibit L and other
documents required by the Title Company reasonably acceptable to Seller; 
 (8) originals of all Property Contracts relating
to the Property which Purchaser has elected to assume or which are not terminable by Seller on or before the Closing, and to the extent originals are not available, copies shall suffice; 

(9) one (1) counterpart original signature page to the closing statement setting forth the Purchase price, the closing
adjustments and prorations and application thereof (the “Closing Statement”); and 
 9.3 Purchaser’s
Deliveries. At or before Closing, Purchaser shall deposit into escrow the following items: 
 (1) No later than 2:00 p.m.
Eastern Standard Time on the day of Closing, immediately available funds necessary to close this transaction, including, without limitation, the Purchase Price (less the Deposit and interest thereon net of investment fees, if any) and funds
sufficient to pay Purchaser’s closing costs and share of prorations hereunder; 
 (2) four (4) duly executed
counterparts of the Bill of Sale; 
 (3) four (4) duly executed counterparts of the Assignment of Leases; and 

(4) one (1) counterpart original signature page to the Closing Statement. 

9.4 Possession. Purchaser shall be entitled to possession of the Property upon conclusion of the Closing, subject to the Permitted
Encumbrances. 

  
 22 

 9.5 Insurance. Seller shall terminate its policies of insurance as of the Closing Date,
and Purchaser shall be responsible for obtaining its own insurance on such date and thereafter. 
 9.6 Other Duties of Escrow Agent.
Escrow Agent shall not be bound in any way by any other agreement or contract between Seller and Purchaser, whether or not Escrow Agent has knowledge thereof. Escrow Agent’s only duties and responsibilities with respect to the Deposit shall be
to hold the Deposit and other documents delivered to it as agent and to dispose of the Deposit and such documents in accordance with the terms of this Agreement. Without limiting the generality of the foregoing, Escrow Agent shall have no
responsibility to protect the Deposit and shall not be responsible for any failure to demand, collect or enforce any obligation with respect to the Deposit or for any diminution in value of the Deposit from any cause, other than Escrow Agent’s
gross negligence or willful misconduct. Escrow Agent may, at the expense of Seller and Purchaser, consult with counsel and accountants in connection with its duties under this Agreement. Escrow Agent shall not be liable to the parties hereto for any
act taken, suffered or permitted by it in good faith in accordance with the advice of counsel and accountants. Escrow Agent shall not be obligated to take any action hereunder that may, in its reasonable judgment, result in any liability to it
unless Escrow Agent shall have been furnished with reasonable indemnity satisfactory in amount, form and substance to Escrow Agent. 
 9.7
Disputes. Escrow Agent is acting as a stakeholder only with respect to the Deposit. If there is any dispute as to whether Escrow Agent is obligated to deliver the Deposit or as to whom the Deposit is to be delivered, Escrow Agent shall not
make any delivery, but shall hold the Deposit until receipt by Escrow Agent of an authorization in writing, signed by all the parties having an interest in the dispute, directing the disposition of the Deposit, or, in the absence of authorization,
Escrow Agent shall hold the Deposit until the final determination of the rights of the parties in an appropriate proceeding. Escrow Agent shall have no responsibility to determine the authenticity or validity of any notice, instruction, instrument,
document or other item delivered to it, and it shall be fully protected in acting in accordance with any written notice, direction or instruction given to it under this Agreement and believed by it to be authentic. If written authorization is not
given, or proceedings for a determination are not begun, within thirty (30) days after the date scheduled for the closing of title and diligently continued, Escrow Agent may, but is not required to, bring an appropriate action or proceeding for
leave to deposit the Deposit with a court of the State of Maryland pending a determination. Escrow Agent shall be reimbursed for all costs and expenses of any action or proceeding, including, without limitation, attorneys’ fees and
disbursements incurred in its capacity as Escrow Agent, by the party determined not to be entitled to the Deposit. Upon making delivery of the Deposit in the manner provided in this Agreement, Escrow Agent shall have no further liability hereunder.
In no event shall Escrow Agent be under any duty to institute, defend or participate in any proceeding that may arise between Seller and Purchaser in connection with the Deposit. 

10. DEFAULT; FAILURE OF CONDITION. 
 10.1
Purchaser Default. If the sale is not consummated due to any default by Purchaser hereunder, then Seller shall retain the Deposit as liquidated damages. The parties have agreed that Seller’s actual damages, in the event of a failure to
consummate this sale due to Purchaser’s default prior to closing, would be extremely difficult or impracticable to determine. 

  
 23 

 
After negotiation, the parties have agreed that, considering all the circumstances existing on the date of this agreement, the amount of the Deposit is a reasonable estimate of the damages that
Seller would incur in such event. Each party specifically confirms the accuracy of the statements made above and the fact that each party was represented by counsel who explained, at the time this agreement was made, the consequences of this
liquidated damages provision. The foregoing is not intended to limit Purchaser’s obligations under Sections 3, 10.9, 10.15 and 10.18. 

10.2 Seller Default. If the sale of the property is not consummated due to Seller’s default hereunder, then Purchaser may elect,
as Purchaser’s sole and exclusive remedy, either to (1) terminate this agreement and receive a refund of the Deposit, in which event neither party shall have any further rights or obligations hereunder except as otherwise provided herein,
or (2) enforce specific performance of this agreement; provided that any suit for specific performance must be brought within 90 days of Seller’s default, Purchaser hereby waiving the right to bring suit at any later date. Purchaser shall
not have any other rights or remedies hereunder as a result of any default by Seller prior to Closing, and Purchaser hereby waives any other such remedy as a result of a default hereunder by Seller. 

10.3 Failure of Condition. If, prior to Closing, Seller discloses to Purchaser or Purchaser discovers that (i) title to the
Property is subject to defects, limitations or encumbrances other than Permitted Encumbrances; or (ii) any representation or warranty of Seller contained in this Agreement is or, as of the Closing Date, will be untrue, then Purchaser shall
promptly give Seller written notice of its objection thereto. In such event, Seller may elect to postpone the Closing for thirty (30) days and attempt to cure such objection, provided that Purchaser may not object to the state of title of the
Property on the basis of any Permitted Encumbrances. The parties acknowledge and agree that Seller shall have no obligation to cure any objection within (i) or (ii) above. If Purchaser fails to waive any such objection within ten
(10) days after notice from Seller that Seller will not cure the objection, this Agreement will terminate automatically and Seller shall promptly direct the Title Company to return the Deposit to Purchaser, provided that Purchaser shall not be
in default hereunder, and neither party shall have any liability to the other except for the Surviving Obligations or as otherwise set forth herein. For the purposes of this Agreement, any title defect, limitation or encumbrance other than a
Permitted Encumbrance shall be deemed cured if Title Company will agree to issue an ALTA owner’s title insurance policy to Purchaser for the Purchase Price, which policy takes no exception for such defect, limitation or encumbrance and is
issued for no additional premium or for an additional premium if Seller agrees to pay such additional premium upon Closing. Notwithstanding the foregoing or any other provision of this Agreement, it shall not be a failure of a condition precedent, a
breach of any representation or warranty, or a default by Seller if any tenant is in default of its Lease or is not in occupancy of any portion of the Property or if Seller terminates any Lease prior to Closing by reason of the tenant’s
default. In any such event, the obligations of Purchaser shall not be affected in any manner and Purchaser shall not be entitled to an abatement of or credit against the Purchase Price nor shall it give rise to any other claim on the part of the
Purchaser. In addition, Purchaser’s obligation hereunder to complete settlement shall be conditioned upon Seller delivering each of the items set forth in Section 9.2 of this Agreement, failing which this Agreement will terminate
automatically and Seller shall promptly direct the Title Company to return the Deposit to Purchaser, provided that Purchaser shall not be in default hereunder, and neither party shall have any liability to the other except for the Surviving
Obligations or as otherwise set forth herein. 

  
 24 

 10.4 Entire Agreement. This Agreement, together with the Exhibits attached hereto, all of
which are incorporated by reference, is the entire agreement between the parties with respect to the subject matter hereof, and no alteration, modification or interpretation hereof shall be binding unless in writing and signed by both parties. 

10.5 Severability; Construction. If any provision of this Agreement or application to any party or circumstances shall be determined by
any court of competent jurisdiction to be invalid and unenforceable to any extent, the remainder of this Agreement or the application of such provision to such person or circumstances, other than those as to which it is so determined invalid or
unenforceable, shall not be affected thereby, and each provision hereof shall be valid and shall be enforced to the fullest extent permitted by law. All dollar amounts stated in this Agreement are U.S. dollar amounts. The normal rule of construction
that any ambiguities be resolved against the drafting party shall not apply to the interpretation of this Agreement or any exhibits or amendments hereto. 

10.6 Applicable Law. This Agreement shall be construed and enforced in accordance with the laws of the State of Maryland. 

10.7 Assignability. Purchaser may not assign this Agreement, other than to a wholly owned subsidiary of Purchaser, without first
obtaining Seller’s written consent, which consent may be granted or withheld in Seller’s sole and absolute discretion. Any assignment in contravention of this provision shall be void. No assignment shall release the Purchaser herein named
from any obligation or liability under this Agreement. Any assignee shall be deemed to have made any and all representations and warranties made by Purchaser hereunder, as if the assignee were the original signatory hereto. If Purchaser requests
Seller’s written consent to any assignment, Purchaser shall (1) notify Seller in writing of the proposed assignment; (2) provide Seller with the name and address of the proposed assignee; (3) provide Seller with financial
information including financial statements of the proposed assignee; (4) provide Seller with a copy of the proposed assignment, and (5) such other information as reasonably requested by Seller. 

10.8 Successors Bound. This Agreement shall be binding upon and inure to the benefit of Purchaser and Seller and their respective
successors and permitted assigns. 
 10.9 No Public Disclosure. Seller shall make no public disclosure of the purchase/sale price of
the Property, either before or after Closing, however it is understood that the Seller shall have the right, subsequent to Closing, to publicize the transaction in a press release provided the purchase/sale price of the Property is not disclosed.
Nothing contained herein shall prevent Seller or Purchaser from making any disclosure(s) required by applicable law. The provisions of this paragraph shall survive the Closing or any termination of this Agreement. The provisions of this
Section 10.9 shall survive Closing and any termination of this Agreement. 

  
 25 

 10.10 Captions. The captions in this Agreement are inserted only as a matter of
convenience and for reference and in no way define, limit or describe the scope of this Agreement or the scope or content of any of it provisions. 

10.11 Attorneys’ Fees. In the event of any litigation arising out of this Agreement, the prevailing party shall be entitled to
reasonable attorneys’ fees and costs. 
 10.12 No Partnership. Nothing contained in this Agreement shall be construed to create
a partnership or joint venture between the parties or their successors in interest. 
 10.13 Time of Essence. Time is of the essence
in this Agreement. 
 10.14 Counterparts. This Agreement may be executed and delivered in any number of counterparts, each of which
so executed and delivered shall be deemed to be an original and all of which shall constitute one and the same instrument. Signatures to this Agreement transmitted by telecopy or by email using pdf file shall be valid and effective to bind the party
so signing. Each party agrees to promptly deliver an execution original to this Agreement with its actual signature to the other party, but a failure to do so shall not affect the enforceability of this Agreement, it being expressly agreed that each
party to this Agreement shall be bound by its own telecopied or pdf signature and shall accept the telecopied or pdf signature of the other party to this Agreement. 

10.15 Recordation. Seller and Purchaser each agrees that neither this Agreement nor any memorandum or notice hereof shall be recorded
and Purchaser agrees (a) not to file any notice of pendency or other instrument (other than a judgment) against the Property or any portion thereof in connection herewith and (b) to indemnify Seller against all costs, expenses and
liabilities (including reasonable attorneys’ fees, expenses and disbursements) incurred by Seller by reason of the filing by Purchaser of such notice of pendency or other instrument. The terms of this Section 10.15 shall survive any
termination of this Agreement. 
 10.16 Proper Execution. The submission by Seller to Purchaser of this Agreement in unsigned form
shall be deemed to be a submission solely for Purchaser’s consideration and not for acceptance and execution. Such submission shall have no binding force and effect, shall not constitute an option, and shall not confer any rights upon Purchaser
or impose any obligations upon Seller irrespective of any reliance thereon, change of position or partial performance. The submission by Seller of this Agreement for execution by Purchaser and the actual execution and delivery thereof by Purchaser
to Seller shall similarly have no binding force and effect on Seller unless and until Seller shall have executed this Agreement and the Deposit shall have been received by the Title Company and a counterpart thereof shall have been delivered to
Purchaser. 
 10.17 Tax Protest. If, as a result of any tax protest or otherwise, any refund is paid or reduction of any real
property or other tax or assessment is made available relating to the Property with respect to any period for which, under the terms of this Agreement, Seller is responsible, Seller shall be entitled to receive or retain such refund or the benefit
of such reduction, less the equitable prorated costs of collection. The terms of this Section 10.17 shall survive the Closing. 

  
 26 

 10.18 Brokers. Each of Seller and Purchaser represents to the other that it has had no
dealings, negotiations, or consultations with any broker, representative, employee, agent or other intermediary in connection with the Agreement or the sale of the Property, except for Holliday Fenoglio Fowler, L.P. (the
“Broker”), who will be paid by Seller upon the Closing of the transaction contemplated hereby and not otherwise, pursuant to a separate written agreement between Seller and Broker. Seller and Purchaser agree that, except as
provided above, each will indemnify, defend and hold the other free and harmless from the claims of any other broker(s), representative(s), employee(s), agent(s) or other intermediary(ies) claiming to have represented Seller or Purchaser,
respectively, or otherwise to be entitled to compensation in connection with this Agreement or in connection with the sale of the Property. The terms and provisions of this paragraph shall survive Closing hereunder. 

10.19 No Processing. Without Seller’s prior written consent, until the Closing, Purchaser shall not make any application to any
governmental agency for any permit, approval, license or other entitlement for the Property or the use or development thereof, or have any communications with any governmental agency or official relating to the condition (environmental or otherwise)
of the Property. 
 10.20 Calculation of Time Periods. Unless otherwise specified, in computing any period of time described herein,
the day of the act or event after which the designated period of time begins to run is not to be included and the last day of the period so computed is to be included at, unless such last day is a Saturday, Sunday or legal holiday for national banks
in the location where the Property is located, in which event the period shall run until the end of the next day which is neither a Saturday, Sunday, or legal holiday. The last day of any period of time described herein shall be deemed to end at
5:00 p.m. Eastern Standard Time. 
 10.21 Section 1031 Exchange. Purchaser and Seller hereby acknowledge that Purchaser and/or
Seller (the “Exchange Party”) may desire to effectuate a tax-deferred exchange (also known as a “1031” exchange (the “Exchange”)) in connection with the purchase and/or sale of all or a
portion of the Property. Each party (the “Cooperating Party”) hereby agrees to cooperate with the Exchange Party in connection with the Exchange contemplated by the Exchange Party, provided that: 

(a) All documents executed in connection with the Exchange (the “Exchange Documents”) shall recognize that
Cooperating Party is acting solely as an accommodating party to such Exchange, shall have no liability with respect thereto, and is making no representation or warranty that the transactions qualify as a tax-free exchange under Section 1031 of
the Internal Revenue Code or any applicable state or local laws and shall have no liability whatsoever if any such transactions fail to so qualify. All Exchange Documents executed by Cooperating Party in connection with the Exchange shall be in form
and substance reasonably acceptable to Cooperating Party. 
 (b) Such Exchange shall not result in Cooperating Party incurring any
additional costs or liabilities (and Exchange Party shall pay all additional costs and expenses to the extent that such are incurred, including, without limitation, any additional costs or expenses incurred by Cooperating Party as a result of its
participation in the Exchange). Exchange Party 

  
 27 

 
shall indemnify, defend and hold Cooperating Party harmless from and against all claims, demands, liability, losses, damages, costs and expenses (including reasonable attorneys’ and
accountants’ fees) suffered or incurred by Cooperating Party in connection with the Exchange. 
 (c) In no event shall Cooperating
Party be obligated to acquire any property or otherwise be obligated to take title, or appear in the records of title, to any property in connection with the Exchange. 

(d) In no event shall Exchange Party’s consummation of such Exchange constitute a condition precedent to Exchange Party’s
obligations under this Agreement, and Exchange Party’s failure or inability to consummate such Exchange shall not be deemed to excuse or release Exchange Party from its obligations under this Agreement. 

(e) Purchaser and Seller further agree that, in connection with the foregoing, and subject in all respects to the foregoing provisions,
Cooperating Party shall consent to Exchange Party assigning all or a portion of its rights under this Agreement to an exchange intermediary solely for the purpose of consummating such Exchange. In no event shall any such assignment release Exchange
Party of its obligations under this Agreement or any document executed pursuant to the terms hereof, including, without limitation, its indemnity obligations hereunder, or affect in any manner any of Exchange party’s representations, warranties
or covenants set forth in this Agreement. 
 10.22 Limitation of Liability. Purchaser hereby acknowledges and agrees that in no event
shall any partner, member, manager, shareholder, or officer of Seller ever be liable to Purchaser as a result of a breach of this Agreement, and Purchaser agrees to look solely to Seller for satisfaction of any claim, loss or damage. The provisions
of this Section 10.22 shall survive Closing or any termination of this Agreement. 
 10.23 Jury Waiver. PURCHASER AND
SELLER DO HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE THEIR RIGHT TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF, OR UNDER OR IN CONNECTION WITH THIS AGREEMENT, THE DOCUMENTS DELIVERED BY PURCHASER AT
CLOSING OR SELLER AT CLOSING, OR ANY COURSE OF CONDUCT, COURSE OF DEALINGS, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ANY ACTIONS OF EITHER PARTY ARISING OUT OF OR RELATED IN ANY MANNER WITH THIS AGREEMENT OR THE PROPERTY (INCLUDING WITHOUT
LIMITATION, ANY ACTION TO RESCIND OR CANCEL THIS AGREEMENT AND ANY CLAIMS OR DEFENSES ASSERTING THAT THIS AGREEMENT WAS FRAUDULENTLY INDUCED OR IS OTHERWISE VOID OR VOIDABLE). THIS WAIVER IS A MATERIAL INDUCEMENT FOR SELLER TO ENTER INTO AND ACCEPT
THIS AGREEMENT AND THE DOCUMENTS DELIVERED BY PURCHASER AT CLOSING AND SHALL SURVIVE THE CLOSING OF TERMINATION OF THIS AGREEMENT. 

[SIGNATURE PAGE TO FOLLOW] 

  
 28 

 IN WITNESS WHEREOF, Purchaser and Seller have executed this Agreement as of the Effective Date.

 SELLER: 
  

			
	BRENTDALE HOLDINGS LIMITED PARTNERSHIP,
	a Texas limited partnership
	
	By: BRENTDALE MANAGER, LLC,
	a Delaware limited liability company, its General Partner
	
	By: INTERCONTINENTAL OLYMPIC BRENTDALE, LLC,
	a Delaware limited liability company, its Manager
	
	By: INTERCONTINENTAL REAL ESTATE INVESTMENT FUND III, LLC, a Massachusetts limited liability company, its Manager
	
	By: INTERCONTINENTAL REAL ESTATE CORPORATION
	a Massachusetts Corporation, its Manager
		
	By:	 	 /s/ Peter Palandjian

	Name:	 	Peter Palandjian
	Title:	 	President and Treasurer

 PURCHASER: 
  

			
	Resource Real Estate Opportunity OP, LP, a Delaware limited partnership
	
	By: Resource Real Estate Opportunity REIT, Inc.
		
	By:	 	 /s/ Alan F. Feldman

	Name:	 	 Alan F. Feldman

	Title:	 	 Chief Executive Officer

  
 29 

 CONSENT AND AGREEMENT OF TITLE COMPANY/ ESCROW AGENT 

The undersigned hereby agrees to (i) accept the foregoing Agreement, (ii) be Title Company under said Agreement, and
(iii) be bound by said Agreement in the performance of its duties as Title Company. 
  

			
	REPUBLIC TITLE OF TEXAS, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 30 

 EXHIBIT A 

LEGAL DESCRIPTION 
 All of
Lot 1, in Block 1, of Ridgecreek Apartments, an addition to the City of Plano, Texas, according to the Map thereof recorded in Volume D, Page 115, of the Map Records of Collin County, Texas, being more particularly described as follows: 

BEGINNING at a  1⁄2 inch iron rod found for a corner
at the intersection of the westerly right-of-way line of Rio Grande Drive (60 feet wide) with the northerly right-of-way line of 15th Street (FM 544) (100 feet wide); 

THENCE, South 89 degrees 30 minutes 15 seconds West, along said northerly right-of-way line of
15th Street, a distance of 362.29 feet to a 5/8 inch iron rod found with Huitt-Zollars cap for a corner; 

THENCE, North 00 degrees 29 minutes 45 seconds West, along the easterly line of a 50 foot by 180 foot street easement to the City of Plano as
recorded in the Deed Records of Collin County, Texas, a distance of 50.00 feet to a  1⁄2 inch iron rod found for a corner; 

THENCE, South 89 degrees 30 minutes 15 seconds West, along the northerly line of said street easement a distance of 180.00 feet to  1⁄2 inch iron rod found for a corner in the easterly line of Lot 4A, Block 3, Pitman Corners Addition, an addition to the City of Plano, as recorded in the Deed
Records of Collin County, Texas; 
 THENCE, North 04 degrees 30 minutes 52 seconds East, along the easterly line of said Lot 4A, a distance
of 100.40 feet to a  1⁄2 inch iron rod found at the beginning of a curve to the left, said point also being the northeast corner of said Lot 4A and the
southeast corner of a 3.2011 acre City of Plano tract as recorded in Volume 901, Page 292 of the Deed Records of Collin County, Texas; 

THENCE, in a northwesterly direction along the northeasterly line of said City of Plano tract, and along said curve to the left, whose radius
bears North 82 degrees 58 minutes 45 seconds West, having a radius of 137.50 feet, a central angle of 34 degrees 56 minutes 55 seconds and an arc length of 83.87 feet to a  1⁄2 inch iron rod found at the end of said curve to the left; 
 THENCE, North 27 degrees 55 minutes 40
seconds West, continuing along the northeasterly line of said City of Plano tract a distance of 89.78 feet to a  1⁄2 inch iron rod found at the beginning of a
curve to the left; 
 THENCE, in a northwesterly direction along the northeasterly line of said City of Plano tract, and along said curve to
the left, having a radius of 307.50 feet, a central angle of 30 degrees 30 minutes 30 seconds and an arc length of 163.74 feet to a  1⁄2 inch iron rod found at
the end of said curve to the left; 

 THENCE, North 58 degrees 26 minutes 20 seconds West, continuing along the northeasterly line of
said City of Plano tract a distance of 207.31 feet to a 5/8 inch iron rod found with Huitt-Zollars cap for a corner; 
 THENCE, South 89
degrees 30 minutes 15 seconds West, along the northerly line of said City of Plano tract a distance of 126.26 feet to a 5/8 inch iron rod found with Huitt-Zollars cap on the easterly line of Lot 2, Block 3, Pitman Corners Addition, an addition to
the City of Plano, Texas as recorded in Cabinet B, Page 106 of the Plat Records of Collin County, Texas, said point also being the northwesterly corner of said City of Plano tract; 

THENCE, in a northwesterly direction along the northeasterly line of said Lot 2, Block 3, Pitman Corners Addition, and along a curve to the
left, whose tangent bears North 00 degrees 29 minutes 45 seconds West, having a radius of 90.65 feet, a central angel of 60 degrees 32 minutes 58 seconds and an arc length of 95.80 feet to a 5/8 inch iron rod found with Huitt-Zollars cap at the end
of said curve to the left and the beginning of a curve to the left; 
 THENCE, in a northwesterly direction along the northeasterly line of
said Lot 2, Block 3, Pitman Corners Addition, and along said curve to the left, having a radius of 603.66 feet, a central angle of 01 degree 25 minutes 25 seconds, and an arc length of 15.00 feet to a
 1⁄2 inch iron rod found at the end of said curve to the left; 

THENCE, North 56 degrees 29 minutes 45 seconds West, a distance of 103.00 feet to a 5/8 inch iron rod found with Huitt-Zollars cap for an angle
point; 
 THENCE, North 40 degrees 10 minutes 40 seconds West, a distance of 108.50 feet to a
 1⁄2 inch iron rod found for an angle point; 

THENCE, North 64 degrees 51 minutes 55 seconds West, a distance of 71.50 feet to a  1⁄2 inch iron rod found for an angle point; 
 THENCE, North 45 degrees 32 minutes 25 seconds West, a
distance of 35.90 feet to a 5/8 inch iron rod found with Huitt-Zollars cap for an angle point; 
 THENCE, North 01 degree 28 minutes 15
seconds West, a distance of 99.00 feet to a 60d nail found for an angle point; 
 THENCE, North 47 degrees 03 minutes 10 seconds West, a
distance of 35.39 feet to a 60d nail found for an angle point; 
 THENCE, North 00 degrees 17 minutes 30 seconds West, 200.00 feet East of
and parallel with the easterly right-of-way line of Custer Road (FM 2478) (100 feet wide), a distance of 55.96 feet to a 5/8 inch iron rod found with Huitt-Zollars cap for an angle point; 

THENCE, North 15 degrees 09 minutes 24 seconds East, a distance of 226.48 feet to a 5/8 inch iron rod found with Huitt-Zollars cap for a
corner; 

 THENCE, North 89 degrees 34 minutes 45 seconds East, a distance of 981.77 feet to a 5/8 inch iron
rod found with Huitt-Zollars cap for a corner on the westerly right-of-way line of Rio Grande Drive (60 feet wide); 
 THENCE, South 00
degrees 16 minutes 00 seconds East, along the westerly right-of-way line of said Rio Grande Drive a distance of 484.49 feet to a 5/8 inch iron rod found with Huitt-Zollars cap at the beginning of a curve to the left; 

THENCE, in a southeasterly direction along the westerly right-of-way line of said Rip Grande Drive and along said curve to the left, having a
radius of 560.00 feet, a central angle of 42 degrees 12 minutes 45 seconds and an arc length of 412.58 feet to a 1 inch iron rod found at the end of said curve to the left; 

THENCE, South 42 degrees 28 minutes 45 seconds East, continuing along the westerly right-of-way line of said Rio Grande Drive a distance of
28.24 feet to a 1 inch iron rod found at the beginning of a curve to the right; 
 THENCE, in a southeasterly direction continuing along the
westerly right-of-way line of said Rio Grande Drive and along said curve to the right, having a radius of 500.00 feet, a central angle of 42 degrees 00 minutes 00 seconds and an arc length of 366. 52 feet to a drill hole found in concrete pad at the
end of said curve to the right; 
 THENCE, South 00 degrees 28 minutes 45 seconds East, continuing along the westerly right-of-way line of
said Rio Grande Drive a distance of 2.61 feet to the POINT OF BEGINNING and CONTAINING 20.956 acres of land, more or less. 

 EXHIBIT B 

PERSONAL PROPERTY NOT PART OF SALE 
 Any
and all software (licensed to Pinnacle or otherwise) that is installed on any of the computers being included as a part of the sale of the Property 

 EXHIBIT C 

RENT ROLL 
 Attached hereto
consisting of thirty-two (32) pages. 

 EXHIBIT D 

PROPERTY CONTRACTS 
 [To Be
Provided] 

 EXHIBIT E 

FORM OF SPECIAL WARRANTY DEED 

SPECIAL WARRANTY DEED 
  

					
	STATE OF TEXAS	  	§	  	
		  	§	  	KNOW ALL MEN BY THESE PRESENTS
	COUNTY OF COLLIN	  	§	  	

 THAT, BRENTDALE HOLDINGS LIMITED PARNTERSHIP, a Texas limited partnership (the
“Grantor”), for and in consideration of the sum of Ten and No/100 Dollars ($10.00) cash and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, paid by
[                    ], a
[                    ](the “Grantee”), subject to the provisions set forth herein, HAS GRANTED , BARGAINED, SOLD and CONVEYED, and
by these presents DOES GRANT, BARGAIN, SELL and CONVEY unto Grantee all of that certain tract or tracts of land (the “Land”) described on Exhibit “A” which is attached hereto and incorporated herein by reference for
all purposes, together with all of Grantor’s right, title and interest in and to any improvements located thereon and any easements, interests, benefits, privileges, rights and appurtenances pertaining to such Land, (said Land, improvements,
easements, interest, benefits, privileges, rights and appurtenances being herein collectively referred to as the “Property”). 

This conveyance is made subject to the matters set forth on Exhibit “B” attached hereto and incorporated herein by this
reference for all purposes. 
 TO HAVE AND TO HOLD the Property unto Grantee, and Grantee’s successors and assigns forever, and Grantor
does hereby bind Grantor, and Grantor’s successors and assigns, to WARRANT and FOREVER DEFEND, all and singular the Property unto Grantee and Grantee’s successors and assigns, against every person whomsoever lawfully claiming or to claim
the same or any part thereof, by, through or under Grantor, but not otherwise, and subject, however, to the provisions contained herein. 

Grantee, by its acceptance hereof, does hereby assume and agree to pay any and all ad valorem taxes and special assessments pertaining to the
Property for the calendar year 2013 and subsequent years, there having been a proper proration of ad valorem taxes for the current calendar year between Grantor and Grantee. 

[THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 

[SIGNATURE PAGE TO FOLLOW] 

 EXECUTED to be effective as of the day      of
             2013. 
  

											
	 BRENTDALE HOLDINGS LIMITED PARTNERSHIP,

a Texas limited partnership

		
	By:	 	BRENTDALE MANAGER, LLC,
		 	a Delaware limited liability company, its General Partner
			
		 	By:	 	INTERCONTINENTAL OLYMPIC BRENTDALE, LLC,
		 		 	a Delaware limited liability company, its Manager
			
		 		 	By: INTERCONTINENTAL REAL ESTATE INVESTMENT FUND III, LLC, a Massachusetts limited liability company, its Manager
				
		 		 	By:	 	INTERCONTINENTAL REAL ESTATE CORPORATION
	a Massachusetts Corporation, its Manager
				
		 		 	By:	 	  

		 		 		 		 	Name:	 	Peter Palandjian
		 		 		 		 	Title:	 	President and Treasurer

  

			
	COMMONWEALTH OF MASSACHUSETTS	  	)
	 ) ss.
	  	
	COUNTY OF SUFFOLK	  	  )

 The foregoing instrument was acknowledged before me this      day of May, 2012 by Peter Palandjian, as
President and Treasurer of Intercontinental Real Estate Corporation, a Massachusetts corporation, manager of Intercontinental Real Estate Investment Fund III, LLC, a Massachusetts limited liability company, as manager of Intercontinental Olympic
Brentdale, LLC, a Delaware limited liability company, as General Partner of Brentdale Manager, LLC. 
 Witness my hand and official seal.

 My commission expires: 
  

	
	  

	Notary Public

 Exhibit “A” to Special Warranty Deed 

Legal Description of Land 

[TO BE INSERTED] 

 Exhibit “B” to Special Warranty Deed/ 

Permitted Encumbrances 

[TO BE INSERTED] 

 EXHIBIT F 

BILL OF SALE 
 KNOW ALL
MEN BY THESE PRESENTS, that BRENTDALE HOLDINGS LIMITED PARTNERSHIP, a Texas limited partnership (“Seller”), for good and valuable consideration paid by
[                                        ]
(“Purchaser”), hereby sells to Purchaser, its successors and assigns, the personal property (“Personal Property”) more particularly referred to in Exhibit “A” attached hereto. 

TO HAVE AND TO HOLD the same unto Purchaser, its successors and assigns to and for its own use and behalf forever. 

Purchaser agrees to pay all sales taxes payable by reason of the transfer to Purchaser of said Personal Property. 

This Bill of Sale shall be without representation or warranty by, and without recourse to, Seller except that Seller warrants that (a) Seller is the sole
owner of the Personal Property, (b) Seller has the power, authority and right to execute and deliver this Bill of Sale and to sell, assign and transfer the Personal Property, and (c) Seller has not made any prior sale or assignment of any
of the Personal Property. 
 This Bill of Sale may be executed in any number of counterparts, each of which so executed shall be deemed an
original; such counterparts shall together constitute but one agreement. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

[SIGNATURE PAGE TO FOLLOW] 

 IN WITNESS WHEREOF, Seller and Purchaser have caused these presents to be signed by their
duly authorized officers as of this      day of             , 2013. 

SELLER: 
  

									
	 BRENTDALE HOLDINGS LIMITED PARTNERSHIP,

a Texas limited partnership

		
	By:	 	 BRENTDALE MANAGER, LLC,

a Delaware limited liability company, its General Partner

			
		 	By:	 	 INTERCONTINENTAL OLYMPIC BRENTDALE, LLC,

a Delaware limited liability company, its Manager

				
		 		 	By:	 	 INTERCONTINENTAL REAL ESTATE INVESTMENT FUND III, LLC,

a Massachusetts limited liability company, its Manager

					
		 		 		 	By:	 	 INTERCONTINENTAL REAL ESTATE CORPORATION

a Massachusetts Corporation, its Manager

					
		 		 		 	By:	 	  

		 		 		 	Name:	 	Peter Palandjian
		 		 		 	Title:	 	President and Treasurer

 PURCHASER: 

 Exhibit “A” to Bill of Sale 

List of Personal Property 

Attached hereto 

 EXHIBIT G 

ASSIGNMENT OF LEASES, SERVICE CONTRACTS, 

WARRANTIES AND OTHER INTANGIBLE PROPERTY 

For good and valuable consideration, the receipt of which is hereby acknowledged, BRENTDALE HOLDINGS LIMITED PARTNERSHIP, a Texas
limited partnership (“Assignor”) hereby irrevocably assigns, transfers and sets over to [                    ]
(“Assignee”) all of Assignor’s right, title and interest in and to: 
 (1) 1. all of Seller’s rights, if any, in
all the leases or occupancy agreements (the “Leases”), and any security deposits actually held by Seller with respect to any such Leases, all as set forth on Exhibit “A” attached hereto (the “Rent
Roll”); 
 (2) 2. all of Seller’s rights, if any, in all service, supply and equipment rental contracts as set forth on
Exhibit “B” (the “Property Contracts”); 
 (3) 3. all of Seller’s right, title and
interest, if any, in all intangible assets of any nature relating to the improvements and land being conveyed to Assignee by separate Special Warranty Deed; including, without limitation, all of Assignor’s right, title and interest, if any, in
all (i) warranties, licenses, permits, approvals, development rights, certificates, variances, consents and similar documents evidencing rights relating to the land or the improvements, (ii) logos and trade names currently used in the
operation of the Land and Improvements, and (iii) plans, specifications, drawings, surveys, engineering and other design products, in each case only to the extent that Seller has such items in its possession or within its control (collectively,
the “Intangible Property”); 
 Assignee hereby assumes all obligations in connection with the Leases, the Property
Contracts and Intangible Property, arising or first becoming due and payable after the date hereof. 
 Assignor hereby reserves the right to
collect and retain delinquent rentals as described on Exhibit “A”. 
 Assignor hereby represents and warrants only that it
has not previously assigned the Leases, the Property Contracts, the Intangible Property, contract rights and other rights assigned hereby. Assignor makes no other representation or warranty in connection with this Assignment and, except for the
foregoing, this Assignment is made without recourse to Assignor. 
 All terms of this Assignment shall be binding upon, inure to the benefit
of and be enforceable by the parties hereto and their respective legal representatives, successors and assigns. 
 No modification, waiver,
amendment, discharge or change of this Assignment shall be valid unless the same is in writing and signed by the party against which the enforcement of such modification, waiver, amendment, discharge or change is or may be sought. 

This Assignment shall be construed and enforced in accordance with the laws of the State of Texas. 

This Assignment may be executed in any number of counterparts, each of which so executed shall be deemed an original; such counterparts shall
together constitute but one agreement. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

[SIGNATURE PAGE TO FOLLOW] 

 IN WITNESS WHEREOF, Assignor and Assignee have each executed this Assignment of this
    day of             , 2013. 
 ASSIGNOR: 

 

									
	 BRENTDALE HOLDINGS LIMITED PARTNERSHIP,

a Texas limited partnership

		
	By:	 	 BRENTDALE MANAGER, LLC,
 a
Delaware limited liability company, its General Partner

			
		 	By:	 	 INTERCONTINENTAL OLYMPIC BRENTDALE, LLC,

a Delaware limited liability company, its Manager

				
		 		 	By:	 	 INTERCONTINENTAL REAL ESTATE INVESTMENT FUND III, LLC,

a Massachusetts limited liability company, its Manager

					
		 		 		 	By:	 	 INTERCONTINENTAL REAL ESTATE CORPORATION

a Massachusetts Corporation, its Manager

					
		 		 		 	By:	 	  

		 		 		 	Name:	 	Peter Palandjian
		 		 		 	Title:	 	President and Treasurer

 ASSIGNEE: 

 Exhibit “A” 

Rent Roll 
 Attached
hereto 

 Exhibit “B” 

Property Contracts 

Attached hereto 

 EXHIBIT H 

TRANSFEROR’S CERTIFICATION OF NON-FOREIGN STATUS 

To inform                     , a
                    (“Transferee”), that withholding of tax under Section 1445 of the Internal Revenue Code of 1986, as amended
(the “Code”), will not be required upon the transfer of certain real property to Transferee by BRENTDALE APARTMENTS LIMITED PARTNERSHIP (“Transferor”), the undersigned hereby certifies the following on behalf
of Transferor: 
 1. Transferor is not a foreign corporation, foreign partnership, foreign trust or foreign estate (as those
terms are defined in the Code and the Income Tax Regulations promulgated thereunder); 
 2. Transferor is not a disregarded
entity as defined in §1.1445-2(b)(2)(iii) [CONFIRM IF ACCURATE; IF NOT REVISE ACCORDINGLY]; 
 3.
Transferor’s U.S. employer identification number is                     and; 

4. Transferor’s office address is c/o Intercontinental Real Estate Corporation, 1270 Soldiers Field Road, Boston,
Massachusetts. 
 Transferor understands that this Certification may be disclosed to the Internal Revenue Service by Transferee and that any
false statement contained herein could be punished by fine, imprisonment, or both. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 [SIGNATURE PAGE TO FOLLOW] 

 Under penalty of perjury I declare that I have examined this Certification and to the best of my
knowledge and belief it is true, correct and complete, and I further declare that I have authority to sign this document on behalf of Transferor. 
 Dated:
            , 2013. 
  

									
	BRENTDALE HOLDINGS LIMITED PARTNERSHIP,
	a Texas limited partnership
		
	By:	 	BRENTDALE MANAGER, LLC,
		 	a Delaware limited liability company, its General Partner
			
		 	By:	 	INTERCONTINENTAL OLYMPIC BRENTDALE, LLC,
		 		 	a Delaware limited liability company, its Manager
				
		 		 	By:	 	INTERCONTINENTAL REAL ESTATE INVESTMENT FUND III, LLC,
		 		 		 	a Massachusetts limited liability company, its Manager
					
		 		 		 	By:	 	INTERCONTINENTAL REAL ESTATE CORPORATION
		 		 		 		 	a Massachusetts Corporation, its Manager
					
		 		 		 	By:	 	  

		 		 		 	Name:	 	Peter Palandjian
		 		 		 	Title:	 	President and Treasurer

 EXHIBIT I 

FORM OF TENANT NOTICE LETTER 

[INSERT LETTERHEAD FOR PROPERTY MANAGER] 

            , 2013 
  

	
	  

	  

	  

  

	Re:	The Brentdale Apartments 

 1515 Rio Grande Drive, Plano, Texas 

Notice to Tenant of Change in Ownership 

Dear Tenant: 
 Please be advised that effective
[                    ], your landlord, Brentdale Apartments Limited Partnership has sold the above-referenced property to
[                    ] with an address at
[                    ]. Your security deposit has been transferred to such entity and such entity shall be responsible for holding the same in
accordance with the terms of your lease. Effective [                    ] all future rental payments should be sent to the following address: 

 

	
	  

	  

	  

 Any questions regarding maintenance and management of the property should be addressed to: 

 

	
	  

	  

	  

 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

[SIGNATURE PAGE TO FOLLOW] 

 Very Truly Yours, 
  

									
	BRENTDALE HOLDINGS LIMITED PARTNERSHIP,
	a Texas limited partnership
		
	By:	 	BRENTDALE MANAGER, LLC,
		 	a Delaware limited liability company, its General Partner
			
		 	By:	 	INTERCONTINENTAL OLYMPIC BRENTDALE, LLC,
		 		 	a Delaware limited liability company, its Manager
				
		 		 	By:	 	INTERCONTINENTAL REAL ESTATE INVESTMENT FUND III, LLC, a Massachusetts limited liability company, its Manager
					
		 		 		 	By:	 	INTERCONTINENTAL REAL ESTATE CORPORATION
		 		 		 		 	a Massachusetts Corporation, its Manager
					
		 		 		 	By:	 	  

		 		 		 	Name:	 	Peter Palandjian
		 		 		 	Title:	 	President and Treasurer

 EXHIBIT J 

DUE DILIGENCE ITEMS 
 To the extent in
Seller’s possession: 
 Critical Items: 

(1) Monthly income statements for the Property beginning December 2011 and through date of sale; 

(2) Monthly bank statements for the Property beginning December 2011 through date of sale; 

(3) Reconciliations to aforementioned bank statements; 

(4) Monthly rent rolls for December 2011 through month of sale; 

(5) Trial Balances for the years ended 2011, 2012 and last date the seller owns the Property; 

(6) Balance Sheet at 1/1/12, 12/31/12, 1/31/13 and the last month the seller owns the Property; 

(7) Account payable and account receivable detail listing/aging reports at 12/31/11, 12/31/12 and date of sale; 

(8) Check registers and payables registers for January 2012, February 2012, January 2013, and February 2013; 

(9) Copy of management agreement; 

(10) General Ledger for 2012 and 2013; 

(11) Copies of all insurance invoices for past 12 months; 

(12) Copies of all real estate tax bills for 2012 and 2013; 

(13) Contact person at the property management company with whom the auditors can discuss internal control procedures and walkthrough
information; 
 (14) Standard Lease form with respect to the Property; 

(15) Copies of all utility bills for past 12 months; 

Other Items: 
 (16) On-site access
to the Tenant Leases including any and all modifications, supplements or amendments thereto and all tenant lease files; 
 (17) A schedule
of all tenant deposits in the form customarily utilized by Seller; 

 (18) Contracts relating to the maintenance and operation of the Property and access at the
Property to all maintenance and service logs for the Property; 
 (19) To the extent available at the property, copies of or access to any
and all site plans, as-built, boundary and topographical surveys of the Property, zoning reports, soil and compaction studies or tests for the Property, architectural drawings, plans and specifications with respect to the Property; 

(20) Insurance loss runs during the period of Seller’s ownership of the Property; 

(21) Most recent elevation certificates (if available); 

(22) To the extent available, copies of all guaranties or warranties currently in effect related to the roof or any structure or operating
system at the Property; 
 (23) A list of employee units and model/office units, and employee rental and discount information; 

(24) A schedule of capital improvements completed during the period of Seller’s ownership; 

(25) Documentation related to eviction activity for the past 12 months; 

(26) List of all personal property to be conveyed with the Property; 

(27) Historical real property tax bills for the past three years and the most recent notice of reassessment, if one exists; 

(28) To the extent available, the most recent tax, license fee and permit bills and copies of all such licenses and permits, including the
certificates of occupancy; 
 (29) List of current employees of the Property and payroll; 

(30) All engineering studies, environmental reports, termite inspections or warranties, to the extent available and in the Seller’s
possession, which relate to its Property and were prepared for such Seller by third parties; 
 (31) The Seller’s ACM plan, lead in
water O&M, and other O&M plans, if any. 
 (32) The most recent Title and Survey in Seller’s possession, which relate to its
Property and were prepared for such Seller by third parties; 

 EXHIBIT K 

LITIGATION 
 None 

 EXHIBIT L 

OWNER’S AFFIDAVIT 

AFFIDAVIT AS TO DEBTS AND LIENS AND PARTIES IN POSSESSION 

(ENTITY OWNER) 
 GF#: 

SUBJECT
PROPERTY:                                        
and being more fully described in the title commitment for the referenced GF#. 
 OWNER: 

SALE TO: 
 STATE OF TEXAS 

COUNTY OF 
 BEFORE ME, the undersigned authority,
on this day personally appeared the undersigned Affiant, personally known to me to be the person whose name is subscribed hereto and upon oath deposes and says that: 
  

	1.	To the best knowledge and belief of Affiant: 

  

	 	a.	The charges for all labor and materials that may have been furnished to the property or to the improvements thereon have been fully paid. 

 

	 	b.	All contracts for the furnishing of labor or materials to the property or for improvements thereon have been completed and fully paid. 

 

	 	c.	There are no security agreements or leases affecting any goods or chattels that have become attached, or that will at any later date become attached, to the property or improvements thereon as fixtures that have not
been fully performed and satisfied, which are not shown on the referenced title commitment. 

  

	 	d.	There are no loans of any kind on the property, which are not shown on the referenced title commitment. 

  

	 	e.	There are no brokers that have a signed commission agreement with Owner under which a commission is claimed or earned and has not been paid, which are not shown on the settlement statements. 

 

	2.	Affiant has no knowledge of a notice of change of use nor has Owner received a notice of change of use by the appraisal district. 

  

	3.	The property is currently being used for the following purposes, and to the best knowledge and belief of Affiant, the improvements, if any, and such use do not violate any restrictive covenants affecting the property:

	
	     

  

	4.	There are no proceedings involving Owner, or notice to Owner of any proceedings, by any agency or authority, public or private, that levies taxes or assessments, which may result in taxes or assessments affecting the
property and which are not shown by the referenced title commitment. 

  

	5.	There are no Judgments, Federal Tax Liens, or State Tax Liens against Owner and/or the property; Owner is not indebted to the State of Texas for any penalties or wages pursuant to a final order of the Texas Workforce
Commission; and neither Owner nor the Property is subject to a claim under the Medicaid Estate Recovery Program. 

  

	6.	(a) All ad valorem and personal property taxes (if any), all “use” type business taxes (if any), including but not limited to hotel use and occupancy taxes, and all association/ maintenance type taxes or
assessments (if any) that are currently due and payable have been paid or will be paid at closing and are shown on the settlement statements. (b) Any of the above referenced taxes which are the obligation of Owner and which have been prorated
on the settlement statements are based on information approved by Owner. 

	7.	Owner is the only occupant of the property, except (list any leases): 

			
	     

	     
	 	.

  

	8.	There are no unrecorded contracts; deeds; mortgages; mechanic’s liens; options of any kind, including but not limited to options to purchase or lease; rights of first refusal or requirements of prior approval of a
future purchaser or occupant; rights of reentry; rights of reverter; or rights of forfeiture affecting the property or improvements thereon, which are not shown on the referenced title commitment. 

 

	9.	There are no unrecorded contracts or agreements related to facilities, systems or equipment located on the property, including but not limited to laundry facilities, cable television systems, central antenna systems,
telecommunication systems and alarm systems, which are not shown on the referenced title commitment. 

  

	10.	No proceedings in bankruptcy or receivership have ever been instituted by or against Owner, and Owner has never made an assignment for the benefit of creditors. 

 

	11.	The property has curb cut(s) and driveway(s) providing actual vehicular and pedestrian access to                     ,
which is/are open and in use. 

 This affidavit is made to the Purchaser and/or Lender and to Republic Title of Texas, Inc., as
an inducement to them to complete the above referenced transaction, and Affiant realizes that said Purchaser and/or Lender and Republic Title of Texas, Inc., are relying upon the representations contained herein; and Affiant does hereby swear under
the penalties of perjury that the foregoing information is true and correct in all respects, to the best knowledge and belief of Affiant, and that Affiant is authorized to make this affidavit on behalf of Owner. 

REMAINDER OF PAGE INTENTIONALLY LEFT BLANK. 

 EXECUTED effective as of             
    , 2013 
  

			
	By:	 	  

		
	By:	 	  

	Name:	 	  

	Title:	 	  

 STATE OF
                     
 COUNTY OF
                     
 SWORN TO AND
SUBSCRIBED BEFORE ME on                  , 2013, by
                                        ,
                                         of
                                        ,
                                         of
                                        . 

 

			
	  

	Notary Public, State of Texas
	Notary’s printed name:	 	  

	My commission expires:Exhibit 10.34

 Exhibit 10.34 

CAMDEN CENTENNIAL 

IMPROVED COMMERCIAL PROPERTY EARNEST MONEY CONTRACT 

Article 1: General Provisions 

1.1 Contract. Subject to the terms and conditions of this Improved Commercial Property Earnest Money Contract (the
“Contract”), ORI-COLORADO, INC., a Nevada corporation (“Seller”) agrees to sell to Purchaser (as identified below), and Purchaser agrees to purchase from Seller, that certain residential apartment complex located at
2961 West Centennial Drive, Littleton, Colorado commonly known as the “Camden Centennial Apartments” consisting of (i) the real property described in Exhibit A, attached hereto and made a part hereof, together with all
improvements and fixtures located thereon and all appurtenances and easements relating thereto and all right, title and interest of Seller in and to any unpaid award for the taking by eminent domain of any part of the aforesaid tract of land or for
damage to such tract of land by reason of a change of grade of any street (the “Real Property”); (ii) the interest of Seller in all leases, tenancies, licenses and other agreements, including all amendments thereto, for the use
or occupancy of any portion of the of the Real Property, including leases which may be entered into by Seller after the Effective Date and prior to Closing as permitted by this Contract, and all guaranties in connection therewith (the
“Leases”); (iii) all of Seller’s right, title and interest, in and to all fixtures, furniture, equipment, and other tangible personal property, if any, owned by Seller (the “Personal Property”) presently
located on the Real Property (but expressly excluding all computer equipment, computer networking equipment, check scanners, facsimile machines, photocopiers, any and all licenses and software in connection with any of the foregoing exclusions,
project signage bearing any name, logo or trademark of Seller or any of its affiliates, golf carts and other motorized vehicles and any items of personal property owned by tenants, any managing agent or others); and (iv) all of Seller’s
right, title and interest, if any, in and to all of the following items, to the extent assignable and without warranty, all entitlements and intangible personal property in connection with or arising out of the design, construction, ownership,
occupancy, use, management, operation, maintenance, repair or ownership of the Real Property (the “Intangible Personal Property”), including without limitation: (a) licenses, permits governmental approvals and certificates of
occupancy relating to the operation of the Real Property, (b) the right to use the name of the Real Property (if any) in connection with the Real Property (but expressly excluding any right to use the name “Camden”, or any derivation
thereof, and any other names, logos and trademarks owned by Seller or any of its affiliates), (c) if still in effect, guaranties and warranties received by Seller from any unrelated third party, contractor, manufacturer or other person in
connection with improvements to or operation of the Real Property, and (d) all local phone numbers and facsimile numbers for the Real Property (the Real Property, the Leases, the Personal Property and the Intangible Personal Property are
referred to herein collectively as, the “Property”). 
 1.2 Defined Terms. The following defined terms shall have
the meanings set forth below: 
  

			
	1.2.1 Seller:	  	As set forth in Section 1.1
		
	1.2.2 Purchaser:	  	Resource Real Estate Opportunity OP, LP or its permitted assignee

			
		
	1.2.3 Purchase Price:	  	$30,600,000.00
		
	1.2.4 Earnest Money:	  	$500,000.00 together with any interest earned thereon
		
	1.2.5 Intentionally Omitted	  	
		
	1.2.6 For Cause Reason	  	A termination by Purchaser of this Contract (a) pursuant to the termination rights of Purchaser under any of Sections 2.9, 4.3, 4.4, 4.6 or 8.6 or (b) due to Purchaser’s dissatisfaction with the environmental condition of the
Property
		
	1.2.7 Title Company	  	 Chicago Title Company
 Commercial Division

5501 LBJ Freeway, Suite 200
 Dallas, Texas 75240

Attn: Eric Dahlberg
 Telephone: (214) 987-6777

Facsimile: (214) 987-6788
 email:
eric.dahlberg@cttdallas.com

		
	1.2.8 Escrow Agent:	  	The Title Company shall act as Escrow Agent
		
	1.2.9 Seller’s Broker:	  	Moran & Company (David Martin)
		
	1.2.10 Effective Date:	  	September 4, 2013
		
	1.2.11 Inspection Period:	  	The period which commenced on the Effective Date and which ends on September 20, 2013 at 5:00pm (Mountain Daylight Time).
		
	1.2.12 Closing Date:	  	September 30, 2013.
		
	1.2.13 Business Day	  	Any day which is not a Saturday, Sunday or holiday on which national banks operating in the State of Colorado are authorized to be closed.
		
	1.2.14 Service Contracts	  	Those service, maintenance and operational contracts in effect with respect to the Real Property which must be assumed by Purchaser at Closing, all of which are identified on Exhibit H attached hereto and made a part
hereof.

  
 2 

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

 

			
	 Cost
	  	Responsible Party
		
	Premium for standard form Owner’s Title Insurance Policy	  	Seller
		
	Premium for extended coverage and any endorsements	  	Purchaser
		
	Costs of new Survey provided by Seller and revisions, modifications or re-certifications thereto	  	Purchaser
		
	Any costs or fees required to transfer the guaranties or warranties, if any, being assigned to Purchaser	  	Purchaser
		
	 Recording Fees
  

(i)     Deed
  

(ii)    Instruments to remove encumbrances that Seller is obligated to remove
	  	      
 Purchaser

 
 Seller

		
	Documentary fees, transfer taxes, stamp taxes, intangible taxes, recording taxes and other taxes and assessments applicable to real and personal property conveyances	  	Purchaser
		
	Any escrow fee charged by Escrow Agent for holding the Earnest Money or conducting the Closing	  	Seller 1/2
Purchaser 1/2
		
	Real Estate Sales Commission to Seller’s Broker	  	Seller

 1.4 Earnest Money. The Earnest Money, in immediately available federal funds, evidencing
Purchaser’s good faith to perform Purchaser’s obligations under this Contract, shall be deposited by Purchaser with the Escrow Agent not later than the third Business Day after the Effective Date. The Escrow Agent shall hold and disburse
the Earnest Money in accordance with the escrow provisions in Exhibit B. In the event that Purchaser fails to timely deposit the Earnest Money with the Escrow Agent, this Contract shall be of no force and effect. The Earnest Money shall be
applied to the Purchase Price at Closing. Except as expressly provided otherwise in this Contract, the Earnest Money shall be nonrefundable. 

1.5 Independent Contract Consideration. Seller and Purchaser agree and acknowledge that as Independent Contract Consideration (herein
so called) for Seller’s entering into this Contract (i) One Hundred and No/100 Dollars ($100.00) of the Earnest Money shall be paid to Seller if this Contract is terminated by Purchaser due to a For Cause Reason and (ii) Fifty
Thousand and No/100 Dollars ($50,000.00) of the Earnest Money shall be paid to Seller if this Contract is terminated by Purchaser for any reason other than a For Cause Reason. Moreover, Seller and Purchaser agree and acknowledge that the Independent
Contract Consideration has been bargained for and agreed as additional consideration for Seller’s execution and delivery of this Contract. At Closing, the Independent Contract Consideration shall be applied to the Purchase Price. 

Article 2: Inspections, Title Review 

2.1 Property Information. To the extent not previously provided, Seller shall make available to Purchaser, to the extent in
Seller’s possession or control, copies of, or access to with the right to copy, within three (3) Business Days after the Effective Date, the materials as may be listed on Exhibit C attached hereto and made a part hereof (the
“Property Information”). 

  
 3 

 Except as otherwise expressly provided herein, Seller makes no representations or warranties as
to the accuracy or completeness of the Property Information or any other documents and information Seller may provide to Purchaser. 
 2.2
Confidentiality. The Property Information and all other information furnished to, or obtained through inspection of the Property by, Purchaser or Purchaser Parties (hereinafter defined) is herein called “Confidential
Information.” The term “Confidential Information” shall not include (i) matters of public record, (ii) information available to Purchaser from third parties who do not have a duty to Seller to keep such information
confidential, (iii) matters generally known to the public, and (iv) matters already known to Purchaser or any of its affiliates, lenders, employees, attorneys, accountants and other professionals or agents relating to the Property
(“Purchaser Parties”). Confidential Information will be treated by Purchaser and Purchaser Parties as confidential, and will not be disclosed to anyone other than Purchaser’s consultants and Purchaser Parties who agree to
maintain the confidentiality of the Confidential Information, and will, if requested by Seller in writing, be destroyed or returned to Seller by Purchaser if the Closing does not occur for any reason. In such an event, and at Seller’s request,
an officer of Purchaser shall certify that all of the Confidential Information has been destroyed or returned to Seller. Purchaser agrees to use the Confidential Information only for the purpose of evaluating the purchase of the Property and not in
any other manner and agrees not to use the Confidential Information in any way which is directly detrimental to the Seller, or to directly interfere with, circumvent or attempt to circumvent the interests of the Seller or its affiliates in the
Property. The confidentiality provisions of this Section 2.2 shall not apply to any disclosures made by Purchaser as required by law, by court order, or in connection with any subpoena served upon Purchaser; provided that Purchaser shall
provide Seller with prior written notice before making any such disclosure. Purchaser’s obligations under this Section 2.2 shall survive termination of this Contract for a period of twelve (12) months. 

2.3 Inspections in General. Commencing on the Effective Date, Purchaser, its agents, and employees shall have the right to enter upon
the Real Property for the purpose of making non-invasive inspections at Purchaser’s sole risk, cost and expense. Prior to any entry onto the Real Property, Purchaser shall provide Seller with evidence that Purchaser maintains commercial general
liability insurance with coverage in an amount not less than $2,000,000 per occurrence and $5,000,000 aggregate, issued by an insurer acceptable to Seller, in form and substance acceptable to Seller and which names Seller and its property manager as
additional insureds under such insurance. All of such entries upon the Real Property shall be at reasonable times during normal business hours and after at least 24 hours prior notice to Seller, and Seller or Seller’s agent shall have the right
to accompany Purchaser during any activities performed by Purchaser on the Real Property. Upon reasonable prior written notice and request from Purchaser, Seller shall notify tenants of the Real Property and permit Purchaser to view occupied units,
subject to the rights of tenants under their Leases and except to the extent specifically prohibited in such tenants’ Leases. Provided Purchaser does not purchase the Property for any reason other than Seller’s breach of its obligations
under this Contract, within ten (10) days after Seller’s request, Purchaser shall provide Seller with a copy of any written reports from third-parties actually received by Purchaser with regard to such tests and inspections (collectively,
the “Purchaser’s Reports”); however, the furnishing of copies of Purchaser’s Reports shall be 

  
 4 

 
without any representation or warranty, express or implied, as to the accuracy, completeness or any other matter regarding such reports, tests and inspections nor shall Seller have any right to
use or rely on same without the express written consent of the preparer of such reports. Purchaser does not warrant or represent that Seller will be able to obtain such consent. Purchaser shall not be obligated to provide any market or economic
feasibility studies, reports, data or analyses prepared by or for Purchaser. If any inspection or test disturbs all or any portion of the Real Property, Purchaser will restore such Real Property to substantially the same condition as existed before
the inspection or test. Except to the extent arising out of the negligence or willful misconduct of Seller, its property manager, or their respective trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents,
counsel, contractors and employees, Purchaser shall indemnify, defend, and hold harmless Seller, its property manager, and their respective trustees, directors, affiliates, parents, shareholders, officers, tenants, partners, agents, counsel,
contractors and employees from and against any and all losses, costs, damages, claims, or liabilities, including but not limited to, mechanic’s and materialmen’s liens and Seller’s and property manager’s attorneys’ fees,
arising out of or in connection with Purchaser’s or its agents’ entry on the Real Property and any inspections of the Real Property. The provisions of this paragraph shall survive the Closing or the earlier termination of this Contract and
shall not be merged into the Deed or other closing documents. 
 2.4 Environmental Inspections. The inspections under
Section 2.3 may include a non-invasive Phase I environmental inspection of the Real Property, but no Phase II environmental inspection or other invasive inspection or sampling of soil, water, air or other materials, including without
limitation construction materials for analytical testing, either as part of the Phase I inspection or any other inspection, shall be performed without the prior written consent of Seller, which may be withheld in Seller’s sole and absolute
discretion, and if consented to by Seller, the proposed scope of work and the party who will perform the work shall be subject to Seller’s reasonable review and approval. At Seller’s written request, Purchaser shall deliver to Seller
copies of any Phase II or other environmental report to which Seller consents as provided above. 
 2.5 Termination During Inspection
Period. If Purchaser determines, in Purchaser’s sole discretion, that the Property is not suitable for Purchaser’s intended use or purpose, or for any reason or no reason whatsoever, Purchaser may, on or before the expiration of the
Inspection Period, deliver a written notice to Seller electing to terminate this Contract (the “Termination Notice”). If Purchaser fails to deliver the Termination Notice to Seller prior to the expiration of the Inspection Period,
Purchaser shall be conclusively deemed to have accepted the Property for all purposes and Purchaser shall continue to perform all its obligations in accordance with the terms of this Contract. In the event Purchaser terminates this Contract by
timely delivery of the Termination Notice such Termination Notice shall, if the termination is due to a For Cause Reason state such For Cause Reason with reasonable specificity. In the event Purchaser terminates this Contract the Earnest Money, less
the applicable Independent Contract Consideration, shall be immediately returned to the Purchaser by the Escrow Agent, the applicable Independent Contract Consideration shall be immediately paid to Seller by the Escrow Agent. Following any
termination under this Section 2.5 neither Seller nor Purchaser shall have any further liability to the other under this Contract except for such obligations of Purchaser which expressly survive the termination of this Contract. 

  
 5 

 2.6 AS-IS SALE/PURCHASER’S RELIANCE ON ITS INVESTIGATIONS/RELEASE.
EXCEPT FOR THE REPRESENTATIONS AND WARRANTIES EXPRESSLY PROVIDED BY SELLER IN SECTION 7.1 BELOW, PURCHASER AGREES (I) THAT IT IS PURCHASING THE PROPERTY ON AN “AS-IS, WHERE-IS” AND “WITH ALL FAULTS” BASIS AND BASED
EXCLUSIVELY ON ITS OWN INVESTIGATION AND EXAMINATION OF THE PROPERTY, (II) THAT NEITHER SELLER NOR ITS EMPLOYEES, OFFICERS, DIRECTORS, TRUSTEES, PRINCIPALS, AGENTS, CONSULTANTS, AFFILIATES, PARENTS, BROKERS, PROPERTY MANAGERS, ATTORNEYS,
CONTRACTORS, AND THEIR RESPECTIVE SUCCESSORS AND ASSIGNS (COLLECTIVELY, “REPRESENTATIVES”) HAVE MADE, AND SELLER AND ITS REPRESENTATIVES DO NOT MAKE AND SPECIFICALLY NEGATE AND DISCLAIM ANY WARRANTY OR REPRESENTATION OF ANY KIND OR
CHARACTER WHETHER EXPRESS, IMPLIED OR STATUTORY, WRITTEN OR ORAL, PAST, PRESENT OR FUTURE, OF, AS TO, CONCERNING OR WITH RESPECT TO ANY MATTER PERTAINING TO THE PROPERTY INCLUDING WITHOUT LIMITATION: (A) THE VALUE OF PROPERTY; (B) ANY
INCOME TO BE DERIVED FROM THE PROPERTY; (C) THE SUITABILITY OF THE PROPERTY FOR ANY AND ALL ACTIVITIES AND USES WHICH PURCHASER MAY CONDUCT THEREON, INCLUDING THE POSSIBILITIES FOR FUTURE DEVELOPMENT OF THE PROPERTY; (D) THE HABITABILITY,
MERCHANTABILITY, MARKETABILITY, PROFITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF THE PROPERTY; (E) THE MANNER, QUALITY, STATE OF REPAIR OR LACK OF REPAIR ON THE PROPERTY; (F) THE NATURE, QUALITY OR CONDITION OF THE PROPERTY, INCLUDING,
WITHOUT LIMITATION, WATER, WATER RIGHTS, SOIL, OR GEOLOGICAL CONDITIONS; (G) THE COMPLIANCE OF OR BY THE SELLER, THE PROPERTY, OR ITS OPERATION WITH ANY CODES, LAWS, RULES, ORDINANCES, REGULATIONS OF ANY APPLICABLE GOVERNMENTAL AUTHORITY OR
BODY, INCLUDING, WITHOUT LIMITATION, ANY APPLICABLE ZONING OR BUILDING REQUIREMENTS; (H) THE NATURE, MANNER OR QUALITY OF THE CONSTRUCTION OR MATERIALS INCORPORATED INTO THE PROPERTY, INCLUDING, WITHOUT LIMITATION, ANY LATENT OR PATENT DEFECTS;
(I) THE DESIGN OF THE PROPERTY, INCLUDING, WITHOUT LIMITATION, THE SPECIFICATION OF ANY MATERIALS OR PRODUCTS INCORPORATED INTO OR USED IN CONNECTION WITH THE CONSTRUCTION OF THE PROPERTY; (J) COMPLIANCE WITH ANY ENVIRONMENTAL, HEALTH,
SAFETY OR LAND USE LAWS, RULES, REGULATIONS, ORDERS, CODES OR REQUIREMENTS, INCLUDING, BUT NOT LIMITED TO, THE AMERICANS WITH DISABILITIES ACT OF 1990, THE FEDERAL WATER POLLUTION CONTROL ACT, THE FEDERAL RESOURCE CONSERVATION AND RECOVERY ACT, THE
U.S. ENVIRONMENTAL PROTECTION AGENCY REGULATIONS AT 40 CFR, PART 261, THE COMPREHENSIVE ENVIRONMENTAL RESPONSE, COMPENSATION AND LIABILITY ACT OF 1980, AS AMENDED (“CERCLA”), THE RESOURCE CONSERVATION AND RECOVERY ACT OF 1976, THE
CLEAN WATER ACT, THE SAFE DRINKING WATER ACT, THE HAZARDOUS MATERIALS TRANSPORTATION ACT, THE TOXIC SUBSTANCE CONTROL ACT, AND REGULATIONS PROMULGATED UNDER ANY OF THE FOREGOING AS WELL AS 

  
 6 

 
ANY AND ALL OTHER LAWS, ORDINANCES, RULES AND/OR REGULATIONS CREATED OR IMPOSED BY ANY GOVERNMENTAL AUTHORITY HAVING JURISDICTION OVER THE PROPERTY, WHETHER LOCAL, STATE OR FEDERAL, PERTAINING TO
ENVIRONMENTAL REGULATION, CONTAMINATION, CLEAN-UP OR DISCLOSURE, AS NOW EXISTING AND/OR AS HEREAFTER AMENDED. (COLLECTIVELY, “ENVIRONMENTAL LAWS”); (K) THE PRESENCE OR ABSENCE OF “HAZARDOUS MATERIALS” (AS DEFINED
BELOW) AT, ON, OR UNDER THE PROPERTY OR ANY PROPERTY NEAR OR ADJACENT TO THE PROPERTY; (L) THE PRESENCE OR ABSENCE OF ANY UNDERGROUND STORAGE TANKS ON THE PROPERTY OR ON PROPERTY ADJACENT TO OR NEAR THE PROPERTY; (M) THE CONTENT,
COMPLETENESS OR ACCURACY OF ANY OF THE PROPERTY INFORMATION (AND ANY OTHER DOCUMENTS AND INFORMATION GIVEN TO OR REVIEWED BY PURCHASER), THE OFFERING, IF ANY, PREPARED BY SELLER’S BROKER, OR ANY OTHER MATERIALS RELATED TO PURCHASER’S
INSPECTION OF THE PROPERTY, OR ANY PRELIMINARY REPORTS, TITLE COMMITMENTS, OR OTHER REPORTS OR DOCUMENTS REGARDING TITLE TO THE PROPERTY; (N) THE TENANT OCCUPANCY LEVEL AT THE PROPERTY; (O) DEFICIENCY OF ANY UNDERSHORING;
(P) DEFICIENCY OF ANY DRAINAGE; (Q) THE FACT THAT ALL OR A PORTION OF THE PROPERTY MAY BE LOCATED IN OR NEAR ANY FLOOD AREA OR ZONE OR WETLANDS; (R) THE EXISTENCE OF VESTED LAND USE, ZONING OR BUILDING ENTITLEMENTS AFFECTING THE
PROPERTY (PURCHASER IS SOLELY RESPONSIBLE FOR OBTAINING ANY CERTIFICATION OF OCCUPANCY OR ANY OTHER APPROVAL OR PERMIT NECESSARY FOR TRANSFER OR OCCUPANCY OF THE PROPERTY); (S) THE SQUARE FOOTAGE OF THE PROPERTY OR THE CONFORMITY OF THE
IMPROVEMENTS TO ANY PLANS OR SPECIFICATIONS FOR THE PROPERTY, INCLUDING ANY PLANS AND SPECIFICATIONS THAT MAY HAVE BEEN PROVIDED TO PURCHASER; AND (T) ANY OTHER MATTER RELATING TO THE PROPERTY OR TO THE DEVELOPMENT OR OPERATION OF THE PROPERTY.
AS USED HEREIN, THE TERM “HAZARDOUS MATERIALS” SHALL MEAN ANY HAZARDOUS OR TOXIC MATERIALS, SUBSTANCES OR WASTES THAT ARE OR BECOME REGULATED BY ANY FEDERAL, STATE OR LOCAL GOVERNMENTAL AUTHORITY, INCLUDING, WITHOUT LIMITATION,
(I) SUBSTANCES DEFINED AS “HAZARDOUS SUBSTANCES,” “HAZARDOUS MATERIALS” OR “TOXIC SUBSTANCES” IN ANY ENVIRONMENTAL LAWS; (II) ANY MATERIALS, SUBSTANCES OR WASTES WHICH ARE TOXIC, IGNITABLE, RADIOACTIVE,
CORROSIVE OR REACTIVE AND WHICH ARE REGULATED BY ANY STATE OR LOCAL GOVERNMENTAL AUTHORITY OR ANY AGENCY OF THE UNITED STATES OF AMERICA; (III) ASBESTOS, MOLD, FUNGI, PETROLEUM AND PETROLEUM BASED PRODUCTS, UREA FORMALDEHYDE FOAM INSULATION,
POLYCHLORINATED BIPHENYLS (PCBS), AND FREON AND OTHER CHLOROFLUOROCARBONS; AND (IV) THOSE SUBSTANCES DEFINED AS ANY OF THE FOREGOING IN THE REGULATIONS ADOPTED AND PUBLICATIONS PROMULGATED PURSUANT TO EACH OF THE AFORESAID LAWS. PURCHASER
ACKNOWLEDGES THAT THE PURCHASE PRICE REFLECTS THE “AS-IS,” “WHERE-IS” NATURE OF THIS SALE AND ANY FAULTS, LIABILITIES, DEFECTS 

  
 7 

 
OR OTHER ADVERSE MATTERS THAT MAY BE ASSOCIATED WITH THE PROPERTY AND PURCHASER’S AGREEMENT TO PURCHASE THE PROPERTY “AS-IS” IS A MATERIAL INDUCEMENT TO SELLER TO AGREE TO SELL THE
PROPERTY AT THE PURCHASE PRICE PROVIDED HEREIN. 
 WITHOUT LIMITING THE FOREGOING AND SUBJECT SOLELY TO THE SELLER’S
REPRESENTATIONS AND WARRANTIES IN SECTION 7.1 BELOW, PURCHASER, FOR ITSELF AND ITS AGENTS, PARENTS, AFFILIATES, SUCCESSORS AND ASSIGNS, WAIVES ITS RIGHT TO RECOVER FROM AND RELEASES AND FOREVER DISCHARGES SELLER, AND ITS REPRESENTATIVES FROM
ANY AND ALL CLAIMS, DEMANDS, LIABILITIES, LOSSES, DAMAGES, PENALTIES, FINES, LIENS, JUDGMENTS, COSTS OR EXPENSES (INCLUDING WITHOUT LIMITATION ATTORNEY FEES AND DISBURSEMENTS) WHATSOEVER (COLLECTIVELY “CLAIMS”) WHETHER AT LAW OR IN
EQUITY, WHETHER KNOWN OR UNKNOWN AT THE TIME OF THIS CONTRACT, WHICH PURCHASER HAS OR MAY HAVE IN THE FUTURE, ARISING OUT OF THE PHYSICAL (INCLUDING WITHOUT LIMITATION, DESIGN AND CONSTRUCTION DEFECTS), ENVIRONMENTAL, HEALTH, SAFETY, ECONOMIC OR
LEGAL CONDITION OF THE PROPERTY, INCLUDING, WITHOUT LIMITATION, ALL CLAIMS IN TORT OR CONTRACT AND ANY CLAIM FOR INDEMNIFICATION OR CONTRIBUTION ARISING UNDER ANY ENVIRONMENTAL LAWS OR ANY SIMILAR FEDERAL, STATE OR LOCAL STATUTE, RULE OR REGULATION
(INCLUDING ANY SUBSEQUENT AMENDMENT OR ADDITION THERETO AND JUDICIAL INTERPRETATIONS THEREOF). PURCHASER, FOR ITSELF AND ITS AGENTS, AFFILIATES, PARENTS, SUCCESSORS AND ASSIGNS UPON CLOSING, SHALL BE DEEMED TO HAVE WAIVED, RELINQUISHED AND RELEASED
SELLER, AND ITS REPRESENTATIVES FROM AND AGAINST ANY AND ALL MATTERS AFFECTING THE PROPERTY, EXCEPT THOSE THAT EXPRESSLY SURVIVE CLOSING HEREUNDER. PURCHASER ACKNOWLEDGES THAT PURCHASER HAS BEEN REPRESENTED BY INDEPENDENT LEGAL COUNSEL OF
PURCHASER’S SELECTION AND PURCHASER IS GRANTING THIS WAIVER AND RELEASE OF ITS OWN VOLITION AND AFTER CONSULTATION WITH PURCHASER’S COUNSEL. 
  

					
		 	 KF
	 	
		 	Purchaser’s Initials	 	

 THE AGREEMENT OF PURCHASER SET FORTH IN THIS SECTION 2.6 SHALL BE DEEMED TO BE AFFIRMED AS OF THE
CLOSING AND THE PROVISIONS OF THIS SECTION 2.6 SHALL SURVIVE INDEFINITELY THE CLOSING OR EARLIER TERMINATION OF THIS CONTRACT AND SHALL NOT BE MERGED INTO THE DEED OR OTHER CLOSING DOCUMENTS. 

2.7 Delivery of Title Commitment. To the extent not previously delivered to Purchaser, within three (3) days after the Effective
Date of this Contract, Seller shall cause to be delivered to Purchaser a title commitment issued by the Title Company to insure fee title to the Real Property (“Title Commitment”), together with copies of the vesting deed and all
documents referenced in the Title Commitment (the “Exception Documents”). 

  
 8 

 2.8 Survey. On or about September 12, 2013, Seller shall deliver to Purchaser an
ALTA/ACSM survey for the Real Property prepared under the direction of Landco Services and dated after the Effective Date (a “Survey”). Purchaser shall, at Closing, reimburse Seller for the cost of the Survey. All costs and expenses
of modifications to the Survey which are required or requested by Purchaser shall be borne by Purchaser whether or not Closing occurs. 

2.9 Title Review and Cure. During the Inspection Period, Purchaser shall review title to the Real Property as disclosed by the Title
Commitment, the Exception Documents related thereto and the existing survey or Survey for such Real Property and, no later the expiration of the Inspection Period, Purchaser may deliver to Seller in writing (“Purchaser’s Objection
Notice”) such objections as Purchaser may have to anything contained or set forth in the Title Commitment, Exception Documents, or Survey. Except as hereinafter expressly set forth, any items to which Purchaser does not object within the
Inspection Period shall be deemed acceptable to Purchaser. Seller shall, within three (3) days of its receipt of Purchaser’s Objection Notice, advise Purchaser in writing (“Seller’s Response”) which objections, if
any, it shall cure or cause to be cured prior to the Closing. Seller shall have no obligation to cure any title exceptions except that Seller shall in all events be obligated to cause to be released on or before Closing, (i) all liens filed
against the Property created or assumed by Seller, (ii) all items, if any, Seller agrees to cure in the Seller’s Response, and (iii) any exceptions to title created by, through or under Seller after the Effective Date of this Contract
without Purchaser’s consent and not reflected on the Title Commitment prior to the expiration of the Inspection Period. If Seller fails to send Seller’s Response Seller shall be deemed to have declined to cure all objections set forth in
Purchaser’s Objection Notice. If Seller declines, or is deemed to have declined, to cure any item to which Purchaser objected in Purchaser’s Objection Notice, Purchaser shall have three (3) business days to elect to (x) terminate
this Contract (whereupon all sums paid as Earnest Money, less the applicable Independent Contract Consideration, shall be returned to Purchaser by the Escrow Agent, the applicable Independent Contract Consideration shall be immediately paid to
Seller by the Escrow Agent and thereafter neither Seller nor Purchaser shall have any further liability to the other under this Contract except for such obligations of Purchaser which expressly survive the termination of this Contract), or
(y) waive those objections in Purchaser’s Objection Notice which Seller is deemed to have declined to cure or which did not expressly agree in Seller’s Response to cure. In the event Purchaser fails to timely elect (x) or
(y) above, then Purchaser shall be conclusively deemed to have elected (y) above. Subject to Seller’s obligation to cure certain title matters as described above, all matters shown on the Title Commitment and Survey, except to the
extent Seller expressly agreed in Seller’s Response to cure such matters; all matters objected to in Purchaser’s Objection Notice which are subsequently waived, or deemed waived, by Purchaser, any defects in or objections to title to the
Real Property or title exceptions or encumbrances, arising, by, through or under Purchaser, real estate taxes or other assessments not yet due and payable, and the rights of tenants in possession, as tenants only, under the Leases, are herein
collectively called, the “Permitted Exceptions”. 
 2.10 Delivery of Title Policy as of Closing. As a condition to
Purchaser’s obligation to close, the Title Company shall be prepared, at Closing, to issue to Purchaser, an Owner’s Policy of Title Insurance for the Real Property (the “Title Policy”), effective as of the date and

  
 9 

 
time of the recording of the Deed, in the amount of the Purchase Price, insuring Purchaser or its permitted assignee, as owner of good and indefeasible fee simple title to such Real Property, and
subject only to the Permitted Exceptions. Seller shall execute at Closing an affidavit as to authority, the rights of tenants in occupancy and the status of mechanics’ liens (and sufficient to remove from the Title Policy any exception for
mechanics’ liens filed against the Real Property which relate to any matters occurring prior to the Closing Date) in form acceptable to Seller and as the Title Company shall reasonably require for the issuance of the Title Policy. The Title
Policy may be delivered after Closing if that is customary in the locality where issued. 
 Article 3: Operations And Risk Of
Loss 
 3.1 Ongoing Operations. During the pendency of this Contract, Seller shall carry on its business and activities relating
to the Property, including the leasing of the Property, in substantially in the same manner as it did before the Effective Date. 
 3.2
Negative Covenants. Seller shall not (A) create or agree to any easements, liens, mortgages, encumbrances or other interests that would materially adversely affect the Property or Seller’s ability to comply with this Contract;
(B) initiate or consent to, approve or otherwise take any action with respect to zoning or any other governmental rules or regulations presently applicable to all or any part of the Real Property, other than as Seller reasonably deems
appropriate in its prudent operation of the Real Property; (C) fail to pay when due and payable all taxes and other public charges assessed against the Real Property or Seller; (D) fail to keep current and free from monetary or material
non-monetary default any and all secured financing against the Real Property; or (E) fail to pay in a timely fashion all proper bills for labor or services for work performed for or on behalf of Seller with respect to the Property. 

3.3 Compliance with Obligations. During the pendency of this Contract, Seller will perform its material obligations under the Leases
and Service Contracts and other material agreements which affect the Property. Seller shall maintain its current insurance policy in full force and effect and shall pay all required premiums and other charges. 

3.4 New Contracts. During the pendency of this Contract, Seller will not, without the prior consent of the Purchaser, enter into any
contract that will be an obligation affecting the Property subsequent to the Closing, except (a) Leases in the ordinary course of business, with terms of not more than fifteen months and in accordance with Seller’s business practices in
effect prior to the Effective Date and (b) contracts entered into in the ordinary course of business that are terminable as of the Closing Date and without penalty or cancellation fee. 

3.5 Hazardous Materials. Seller shall not use, produce, process, manufacture, generate, treat, handle, store or dispose of any
Hazardous Materials in violation of Environmental Law on or under the Real Property. Seller shall promptly furnish to Purchaser copies of all written communications received by Seller from any person (including notices, complaints, claims or
citations that any release or threatened release of any Hazardous Materials or any violation of any Environmental Law has actually or allegedly occurred) or given by Seller to any person concerning any past or present release or threatened release
of any Hazardous Substances in, on or under the Real Property (or any nearby real property which could migrate to the Real Property) or any past or present violation of any Environmental Law at the Real Property. 

  
 10 

 3.6 Litigation; Notice of Violations. Seller shall promptly notify Purchaser in writing of
any litigation, arbitration, condemnation or administrative hearing before any court or governmental agency concerning Seller or the Property that is instituted or threatened in writing after the date hereof other than eviction or unlawful detainer
actions that will be completed prior to Closing and insured claims for bodily injury. Seller shall promptly provide Purchaser with a copy of any written notices of violations received by Seller asserting a violation of any laws, ordinances,
regulations, licenses, permits, governmental approvals, certificates of occupancy, or any covenants, conditions or restrictions applicable to the Property. 

3.7 No Transfers. Except as permitted under clause (a) (iv) above, and except for depletions, replacements and additions of
the Personal Property in the ordinary course of business, Seller shall not in any manner sell, convey, assign, transfer, encumber or otherwise dispose of the Real Property, the Leases, the Personal Property, or the Service Contracts, or any part
thereof or interest therein. 
 3.8 Operations After Closing. Seller shall not dissolve its existing entity and shall remain validly
existing and in good standing under the laws of the State of Nevada until December 31, 2014; provided, however, that if Purchaser gives Seller written notice of a claim under this Contract on or before the expiration of such period, such
covenant shall extend until the such claim has been resolved. 
 3.9 Termination of Miscellaneous Contracts. Purchaser acknowledges
that Seller may have various service, maintenance and other operational contracts in effect in addition to the Service Contracts (such other contracts being herein called the “Miscellaneous Contracts”) which Miscellaneous Contracts
may also relate to various services, maintenance and other operations at the Real Property. Purchaser acknowledges that the Miscellaneous Contracts may include confidential arrangements between Seller and various vendors, national contracts and
other contracts which Seller cannot or will not permit Purchaser to assume. Accordingly, Seller will not provide copies of the Miscellaneous Contracts for Purchaser’s inspection, and Purchaser shall not be required or permitted to assume any of
the Miscellaneous Contracts. Seller will terminate each of the Miscellaneous Contracts, at its sole cost and expense, effective as of a date not later than the Closing Date. 

Article 4: Conditions Precedent and Remedies 

4.1 Purchaser’s Conditions to Closing. Purchaser’s obligation to close under this Contract shall be subject to and
conditioned upon the fulfillment of each and all of the following conditions precedent: 
 4.1.1 All of the documents
required to be delivered by Seller to Purchaser at the Closing pursuant to the terms and conditions hereof shall have been delivered; 

4.1.2 Each of representations and warranties of Seller set forth in Section 7.1 shall be true in all material
respects as of the Closing Date; 
 4.1.3 Title Company is prepared to issue, upon the condition of the payment of its
scheduled premiums, the Title Policy, subject to the Permitted Exceptions applicable to the Real Property; 
 4.1.4 Purchaser
has not elected to terminate this Contract pursuant to Section 2.5, 2.9, 4.3, 4.4, 4.6 or 8.6. 

  
 11 

 4.2 Seller’s Conditions to Closing. Without limiting any of the rights of Seller
elsewhere provided for in this Contract, Seller’s obligation to close with respect to conveyance of the Property under this Contract shall be subject to and conditioned upon the fulfillment of each and all of the following conditions precedent:

 4.2.1 All of the documents and funds required to be delivered by Purchaser to Seller at the Closing pursuant to the terms
and conditions hereof shall have been delivered; and 
 4.2.2 Each of the representations of Purchaser set forth in
Section 7.2 shall be true in all material respects as of the Closing Date. 
 4.3 Failure or Waiver of Conditions
Precedent. In the event any of the conditions set forth in Sections 4.1 or 4.2 are not fulfilled or waived, the party benefited by such conditions may, by written notice to the other party, terminate this Contract, whereupon all
rights and obligations hereunder of each party shall terminate except those that expressly survive any termination. Either party may, at its election, at any time or times on or before the date specified for the satisfaction of the condition, waive
in writing the benefit of any of the conditions set forth in Sections 4.1 and 4.2 above. In the event this Contract is terminated as a result of any condition set forth in Section 4.1, Purchaser, as its sole and exclusive
remedy, shall be entitled to a refund of the Earnest Money, less the applicable Independent Contract Consideration (which shall be paid to Seller). In any event, Purchaser’s consent to the close of escrow pursuant to this Contract shall waive
any remaining unfulfilled conditions, and any liability on the part of Seller for breaches of covenants, representations and warranties of which Purchaser had knowledge as of the Closing. 

4.4 Damage or Condemnation. 

4.4.1 Risk of loss resulting from any condemnation or eminent domain proceeding which is commenced or has been threatened
before the Closing Date, and risk of loss to the Property due to fire, flood or any other cause before the Closing Date, shall remain with Seller. 

4.4.2 If, prior to the Closing Date, all or part of the Real Property is damaged by fire or by any other cause whatsoever,
Seller shall promptly give Purchaser written notice of such damage. If the cost of repairing such damage is not in excess of Four Hundred Thousand and No/100 Dollars ($400,000.00), as estimated by an independent general contractor designated by
Seller or Seller’s lender or insurance company, then the Closing shall occur on the Closing Date and at Closing Purchaser shall receive a credit against the Purchase Price in an amount equal to (i) the estimated cost of repair or
replacement minus (ii) any sums reasonably expended by Seller in making emergency repairs or restoration for life safety purposes or to avoid further property damage to the extent that such costs were included in the estimated costs of
repair or replacement and any sums reasonably expended by Seller in repairing or replacing such damage. If the cost of repairing damage from such casualty is greater than Four 

  
 12 

 
Hundred Thousand and No/100 Dollars ($400,000.00), then either Seller or Purchaser shall have the right, for a period of ten (10) Business Days from the date of notice of the amount of
damage, to terminate this Contract by giving written notice of termination to the other party within such period. Upon such termination, the parties hereto shall be released of any further liability hereunder except for provisions which survive a
termination and Purchaser shall be entitled to a return of the Earnest Money, less the Independent Contract Consideration which shall be paid to Seller. If either party fails to notify the other party within such period of its intention to terminate
this Contract, then the parties shall proceed to Closing, and at Closing Purchaser shall receive a closing credit in the amount provided for in subsections (i) above minus the amount which Seller is entitled to withhold under subsection
(ii) above. 
 4.4.3 If, prior to the Closing Date, any condemnation or eminent domain proceedings shall be commenced by
any public authority against the Real Property, Seller shall promptly give Purchaser written notice thereof. Upon notice of the commencement of any such proceedings (from Seller or otherwise), Purchaser shall have the right to either (i) accept
the affected Real Property subject to the proceedings, whereupon any award paid prior to Closing (less Seller’s reasonable and necessary costs and expenses of pursuing and participating in such proceedings) shall be paid to Purchaser and Seller
shall deliver to Purchaser at Closing, without recourse or representation (other than Seller’s representation that it has the right to make such assignment without any other person or entity having the right to claim entitlement to all or any
portion of such proceeds), all of Seller’s right, title and interest in and to any such award, or (ii) terminate this Contract by giving written notice to Seller to that effect within ten (10) Business Days from the date Purchaser
receives notice of the proceedings. If this Contract is terminated by Purchaser as aforesaid, the parties hereto shall have no further liability hereunder except as otherwise expressly provided herein and Purchaser shall be entitled to a return of
the Earnest Money, less the Independent Contract Consideration which shall be paid to Seller. In the event Purchaser fails to notify Seller within such period of Purchaser’s intention to terminate this Contract, then Purchaser shall proceed to
Closing and Seller’s rights to any awards (less Seller’s reasonable and necessary costs and expenses of pursuing and participating in such proceedings) shall be assigned to Purchaser at Closing. Seller shall have no obligation to repair or
restore the Property or any portion thereof. 
 4.5 DEFAULT BY PURCHASER. IF PURCHASER SHALL DEFAULT IN ITS OBLIGATIONS UNDER THIS
CONTRACT AND SUCH DEFAULT SHALL CONTINUE UNCURED FOLLOWING THE FIFTH (5TH) DAY AFTER WRITTEN NOTICE OF SUCH DEFAULT IS GIVEN TO PURCHASER (HOWEVER SUCH NOTICE PERIOD SHALL NOT EXTEND THE
CLOSING DATE), PURCHASER AGREES THAT SELLER SHALL HAVE THE RIGHT TO TERMINATE THIS CONTRACT AND HAVE THE ESCROW AGENT DELIVER THE EARNEST MONEY TO SELLER AS LIQUIDATED DAMAGES TO COMPENSATE SELLER FOR TIME SPENT, LABOR AND SERVICES PERFORMED, AND
THE LOSS OF ITS BARGAIN. PURCHASER AND SELLER AGREE THAT IT WOULD BE IMPRACTICABLE OR EXTREMELY DIFFICULT TO CALCULATE DAMAGES WITH CERTAINTY IF PURCHASER SO DEFAULTS AND THAT THE EARNEST MONEY REPRESENTS A REASONABLE ESTIMATE OF SELLER’S
DAMAGES. SELLER 

  
 13 

 
AGREES TO ACCEPT THE EARNEST MONEY AS SELLER’S SOLE REMEDY IF PURCHASER DEFAULTS IN ITS OBLIGATIONS UNDER THIS CONTRACT, SELLER WAIVING ALL OTHER RIGHTS AND REMEDIES. THE FOREGOING IS NOT
INTENDED TO LIMIT PURCHASER’S INDEMNITY OBLIGATIONS HEREUNDER. 
 4.6 DEFAULT BY SELLER. IF SELLER DEFAULTS IN ITS OBLIGATION TO
SELL AND CONVEY THE PROPERTY TO PURCHASER PURSUANT TO THIS CONTRACT AND SUCH DEFAULT SHALL CONTINUE UNCURED FOLLOWING THE FIFTH (5TH) DAY AFTER WRITTEN NOTICE OF SUCH DEFAULT IS GIVEN TO
SELLER (HOWEVER SUCH NOTICE PERIOD SHALL NOT EXTEND THE CLOSING DATE), PURCHASER’S SOLE AND EXCLUSIVE REMEDY SHALL BE TO ELECT ONE OF THE FOLLOWING: (A) TO TERMINATE THIS CONTRACT, IN WHICH EVENT PURCHASER SHALL BE ENTITLED TO (I) THE
RETURN BY THE ESCROW AGENT TO PURCHASER OF THE EARNEST MONEY (INCLUDING THE INDEPENDENT CONTRACT CONSIDERATION), AND (II) IF SUCH DEFAULT IS THE RESULT OF SELLER’S INTENTIONAL BREACH OF THIS CONTRACT FOR THE PURPOSES OF DEPRIVING PURCHASER OF
THE BENEFIT OF ITS BARGAIN, PURCHASER SHALL ALSO BE ENTITLED TO THE RECOVERY FROM SELLER OF PURCHASER’S ACTUAL AND REASONABLE OUT-OF-POCKET COSTS AND EXPENSES INCURRED IN CONNECTION WITH ENTERING INTO THIS CONTRACT AND ATTEMPTING TO PURCHASE
THE PROPERTY, INCLUDING WITHOUT LIMITATION, DUE DILIGENCE INSPECTIONS PERFORMED BY PURCHASER AND ITS CONSULTANTS, AND LOAN DEPOSITS, APPLICATION AND COMMITMENT FEES, UP TO A MAXIMUM AMOUNT OF FIFTY THOUSAND AND NO/100 DOLLARS ($50,000.00) IN THE
AGGREGATE, AND AFTER PURCHASER HAS RECOVERED ALL THE FOREGOING NEITHER PARTY SHALL HAVE ANY FURTHER RIGHTS OR OBLIGATIONS EXCEPT FOR PURCHASER’S INDEMNITY OBLIGATIONS HEREUNDER, OR (B) TO BRING A SUIT FOR SPECIFIC PERFORMANCE PROVIDED THAT
ANY SUIT FOR SPECIFIC PERFORMANCE MUST BE BROUGHT WITHIN NINETY (90) DAYS OF SELLER’S DEFAULT, TO THE EXTENT PERMITTED BY LAW, PURCHASER WAIVING THE RIGHT TO BRING SUIT AT ANY LATER DATE. PURCHASER WAIVES ANY OTHER RIGHTS OR REMEDIES.
PURCHASER AGREES NOT TO FILE A LIS PENDENS OR OTHER SIMILAR NOTICE AGAINST THE PROPERTY EXCEPT IN CONNECTION WITH THE FILING OF A SUIT FOR SPECIFIC PERFORMANCE. 

Article 5: Closing 

5.1 Closing. The consummation of the transaction contemplated herein (“Closing”) shall occur on the Closing Date
through the usual form of deed and money escrow, which the parties shall establish with Escrow Agent. 
 5.2 Seller’s Deliveries in
Escrow. On or before noon (Mountain Daylight Time) on the Closing Date, Seller shall deliver in escrow to the Escrow Agent the following: 

5.2.1 Deed. A special warranty deed for the Real Property (the “Deed”) in the form attached hereto as
Exhibit D and made a part hereof, executed and acknowledged by Seller, conveying Seller’s title to the Real Property, subject only to the Permitted 

  
 14 

 
Exceptions. Any discrepancy between the description of the Real Property in the deed from Seller’s immediate grantor and the description reflected on the Survey shall, if requested by
Purchaser in writing at least five (5) Business Days before the Closing Date, be quitclaimed by Seller. 
 5.2.2 Bill
of Sale and Assignment of Leases and Contracts. A Bill of Sale and Assignment of Leases and Contracts for the Real Property (the “Assignment”) in the form of Exhibit E attached hereto, executed by Seller. 

5.2.3 Notice of Assignment. A notice of assignment to each of the vendors under the assumed Service Contracts executed
by Seller (the “Notice of Assignment”); 
 5.2.4 Notice to Residents. A notice to the tenants
regarding the sale of the Property in the form of Exhibit F attached hereto, or such other form as may be required by applicable state law, executed by Seller (the “Notice to Residents”); 

5.2.5 Withholding Exemption Certificate. A Colorado Form DR-1083, in form required by law and duly executed by Seller,
concerning required information with respect to a conveyance of a Colorado real property interest; 
 5.2.6 State Law
Disclosures. Such disclosures and reports as are required by applicable state and local law in connection with the conveyance of real property; 

5.2.7 FIRPTA. A Foreign Investment in Real Property Tax Act affidavit executed by Seller; and 

5.2.8 Additional Documents. Any additional documents that Purchaser, Escrow Agent or the Title Company may reasonably
require for the proper consummation of the transaction contemplated by this Contract. 
 5.3 Purchaser’s Deliveries in Escrow.
On or before noon (Mountain Daylight Time) on the Closing Date, Purchaser shall deliver in escrow to the Escrow Agent the following: 

5.3.1 Purchase Price. The Purchase Price, less the Earnest Money that is applied to the Purchase Price, plus or minus
applicable prorations, deposited by Purchaser with the Escrow Agent in immediate, same-day federal funds wired for credit into the Escrow Agent’s escrow account; 

5.3.2 Bill of Sale and Assignment of Leases and Contracts. The Assignment, executed by Purchaser; 

5.3.3 Notices of Assignment. The Notice of Assignment, executed by Purchaser; 

5.3.4 Notice to Residents. The Notice to Residents, executed by Purchaser; 

5.3.5 Real Property Transfer Declaration. A Real Property Transfer Declaration, in form required by law and duly
executed by Purchaser, concerning information with respect to a conveyance of a Colorado real property interest. 

  
 15 

 5.3.6 State Law Disclosures. Such disclosures and reports as are required
by applicable state and local law in connection with the conveyance of real property; and 
 5.3.7 Additional
Documents. Any additional documents that Seller, Escrow Agent or the Title Company may reasonably require for the proper consummation of the transaction contemplated by this Contract. 

5.4 Closing Statements. At the Closing, Seller and Purchaser shall deposit with the Escrow Agent executed closing statements consistent
with this Contract in the form required by the Escrow Agent. 
 5.5 Title Policy. The Title Policy shall be delivered as of Closing
as provided in Section 2.10. 
 5.6 Possession. Seller shall deliver possession of the Property to Purchaser at the
Closing, subject only to the rights of tenants under the Leases and the Permitted Exceptions. 
 5.7 Post-Closing Deliveries. To the
extent reasonably available to Seller, copies or original Leases (which may be electronic); lease files; originals of all contracts (or copies if no originals are available) and receipts for deposits; and all keys, if any, used in the operation of
the Property; shall be made available to Purchaser at the Property after the Closing. Within thirty (30) days following Closing Seller shall deliver to Purchaser a final income statement for the Property covering the month of Closing to the
Closing Date. The obligation to make such delivery shall survive Closing. 
 5.8 Close of Escrow. The Escrow Agent shall agree in
writing with Seller and Purchaser that (a) recordation of the Deed constitutes its representation that it is holding the closing documents, closing funds and closing statements and is prepared and irrevocably committed to disburse the closing
funds in accordance with the closing statements and (b) release of funds to Seller shall irrevocably commit Title Company to issue the Title Policy in accordance with this Contract. Upon satisfaction or completion of the foregoing conditions
and deliveries, the parties shall direct the Escrow Agent to immediately record and deliver the documents described above to the appropriate parties and make disbursements according to the closing statements executed by Seller and Purchaser and in
accordance with escrow instructions by each party consistent with this Contract. 
 Article 6: Prorations and Adjustments 

6.1 Prorations. The day of Closing shall belong to Purchaser and all prorations hereinafter provided to be made as of the Closing shall
each be made as of the end of the day before the Closing Date. With respect to each proration set forth below, the portion thereof applicable to periods beginning as of the Closing Date shall be credited or charged to Purchaser and the portion
thereof applicable to periods preceding the Closing Date shall be credited or charged to Seller. 

  
 16 

 6.1.1 Taxes and Assessments. General real estate taxes and assessments
imposed by governmental authority and any assessments imposed by private covenant constituting a lien or charge on the Real Property for the year of Closing (collectively, “Taxes”) not yet due and payable shall be prorated based
upon the most recent ascertainable assessed values and mill levy. Purchaser hereby acknowledges and agrees that Seller has or may file appeals (the “Appeals”) with respect to the current tax year and also with respect to prior
year(s) ad valorem property taxes applicable to the Property (the “Appealed Taxes”). Seller shall be entitled, in Seller’s sole discretion, to continue to pursue such Appeals after the Closing Date. In the event that any such
Appeal is successful in reducing the amount of Appealed Taxes payable with respect to prior years, Seller shall be entitled to the full amount of any rebate, refund or reduction resulting from such Appeal. In the event that any such Appeal is
successful in reducing the amount of Appealed Taxes payable with respect to the current fiscal year, Seller and Purchaser shall prorate the net proceeds of any rebate, refund or reduction resulting from such Appeal relating to the current fiscal
year. 
 6.1.2 Collected Rent. All collected rent and other collected income (and any applicable state or local tax on
rent) under Leases in effect on the Closing Date shall be prorated. Seller shall be charged with any rent and other income collected by Seller before Closing but applicable to any period of time after Closing. Uncollected rent and other income shall
not be prorated. Purchaser shall apply rent and other income from tenants that are collected after the Closing first to the obligations then owing to Purchaser for its period of ownership and to costs of collection, remitting the balance, if any, to
Seller. Any prepaid rents for the period following the Closing Date shall be paid over by Seller to Purchaser. Purchaser will make reasonable efforts, without suit, to collect any rents applicable to the period before the Closing Date. Seller may
pursue collection as to any rent not collected by Purchaser within 6 months following the Closing Date provided that Seller shall have no right to pursue collection efforts against any tenant while in occupancy of an apartment at the Property. In
the event that any tenant pays its rent via an ACH or other automatic debit system, Seller shall cancel such automatic payments at Closing; provided, however, in the event that an automatic rent payment is erroneously forwarded to Seller after
Closing, Seller, shall remit such payment to Purchaser in accordance with Section 6.2 
 6.1.3 Common Meter
Utilities. Expenses related to common metered utilities, including water, sewer, electric, and gas, based upon the last reading of meters prior to the Closing shall be prorated. Seller shall endeavor to obtain meter readings on the day before
the Closing Date, and if such readings are obtained, there shall be no proration of such items. Seller shall pay, or cause to be paid, at Closing the bills therefor for the period to the day preceding the Closing, and Purchaser shall pay the bills
therefor for the period subsequent thereto. If the utility company will not issue separate bills, Purchaser will receive a credit against the Purchase Price for Seller’s portion and will pay the entire bill prior to delinquency after Closing.
If Seller has paid any utilities no more than 30 days in advance in the ordinary course of business, then Purchaser shall be charged its portion of such payment at Closing. 

6.1.4 Tenant Utilities. Recoveries from the utility expense reimbursements payable by the tenants pursuant to the Leases
regardless of whether or not collected by Seller (or a third party service provider) shall be prorated based upon, and shall relate back to, the months in which the billed expenses were incurred. 

  
 17 

 6.1.5 Fees and Charges under Service Contracts. Seller and Purchaser shall
prorate all fees and charges under the assumed Service Contracts on the basis of the periods to which such Service Contracts relate. 

6.1.6 Rent Ready Adjustments. Not more than two (2) Business Days prior to Closing (“Walk Though
Date”), a representative of Purchaser and a representative of Seller shall conduct an onsite walk-through of the then unoccupied rental units on the Property to determine whether such unoccupied rental units are in “rent ready”
condition. With respect to any rental unit that is vacated on or before five (5) Business Days prior to Closing that Seller has not placed in a “rent ready” condition before the Walk Through Date, Purchaser shall receive a credit
against the Purchase Price at Closing in the amount of $750 per unit. As used herein, “‘rent ready’ condition” means Seller’s practice and procedures, as of the date of this Agreement, for placing units in “rent
ready” condition. Nothing contained in this Section 6.1.6 shall be construed as limiting Purchaser’s rights and Seller’s obligations under the other provisions of this Agreement. 

6.2 Final Adjustment After Closing. If final prorations cannot be made at Closing for any item being prorated under
Section 6.1, then Purchaser and Seller agree to allocate such items on a fair and equitable basis as soon as invoices or bills are available, with final adjustment to be made as soon as reasonably possible after the Closing, but no later
than 90 days after the Closing (except for Taxes), to the effect that income and expenses are received and paid by the parties on an accrual basis with respect to their period of ownership. Payments in connection with the final adjustment shall be
due within 30 days of written notice. Seller shall have reasonable access to, and the right to inspect and audit, Purchaser’s books to confirm the final prorations. 

6.3 Service Contracts. Purchaser will assume the obligations arising from and after the Closing Date under the Service Contracts. 

6.4 Tenant Deposits. All tenant security deposits under the Leases (and interest thereon if required by law or contract to be earned
thereon) and not theretofore lawfully applied to tenant obligations under the Leases shall be transferred or credited to Purchaser at Closing or placed in escrow if required by law. As of the Closing, Purchaser shall assume Seller’s obligations
related to tenant security deposits under the Leases to the extent such tenant security deposits are actually transferred or credited to Purchaser. 

6.5 Utility Deposits. Purchaser shall be responsible for making any deposits, required by utility companies in order to provide service
to Purchaser. All utility deposits made by Seller shall remain the property of Seller. 
 6.6 Sale Commissions. Seller and Purchaser
represent and warrant each to the other that they have not dealt with any real estate broker, sales person or finder in connection with this transaction other than Seller’s Broker. If this transaction is closed, Seller shall pay Seller’s
Broker in accordance with their separate agreement. Seller’s Broker is an independent contractor and is not authorized to make any agreement or representation on behalf of either party. Except as expressly set forth above, if any claim is made
for broker’s or finder’s fees or commissions in 

  
 18 

 
connection with the negotiation, execution or consummation of this Contract or the transactions contemplated hereby, each party shall defend, indemnify and hold harmless the other party from and
against any such claim based upon any statement, representation or agreement of such party. 
 6.7 Leasing Commissions and Locator
Fees. Seller shall pay, and remain liable to pay, all locator fees and leasing commissions due and owing (including any delinquent amounts) under Leases as to which occupancy occurred prior to the Closing Date. In the event the Closing occurs,
Purchaser shall be responsible for all locator fees and leasing commissions due and owing under Leases as to which occupancy occurs on or after the Closing Date. 

Article 7: Representations 

7.1 Seller’s Representations. Except, in all cases, for any fact, information or condition disclosed in the Title Commitment, the
Permitted Exceptions, the Service Contracts, or the Property Information, or which is otherwise known to Purchaser prior to Closing, Seller represents and warrants to Purchaser the following (collectively, the “Seller’s
Representations”) as of the Effective Date: 
 7.1.1 Organization and Authority. Seller has been duly
organized and is validly existing as a corporation in good standing in the State of Nevada and is qualified to do business in the state in which the Property is located. Seller has the full right and authority, has made all required filings and has
obtained any and all consents required to enter into this Contract and, as of Closing, will have obtained any and all consents required to consummate or cause to be consummated the transactions contemplated hereby. This Contract has been, and all of
the documents to be delivered by Seller at the Closing will be, authorized and properly executed and constitutes, and will constitute, as appropriate, the valid and binding obligation of Seller, enforceable in accordance with their terms and do not,
and at the time of Closing will not, violate the charter documents of Seller or any provision of any agreement or judicial order to which Seller is a party. 

7.1.2 Conflicts and Pending Action. There is no agreement to which Seller is a party, or to Seller’s knowledge is
binding on Seller, whose provisions will be breached by consummation of the transaction contemplated by this Contract. To Seller’s knowledge, there is no action or proceeding pending or threatened against the Real Property, including
condemnation proceedings, or against the Seller which challenges or impairs Seller’s ability to execute or perform its obligations under this Contract. 

7.1.3 Rent Rolls and Operating Statements. To Seller’s knowledge, the Rent Roll attached hereto as Exhibit G
and all other rent rolls to be provided to Purchaser for the Real Property are or will be true, correct and complete in all material respects as of the dates thereof. The Operating Statements were prepared by or for Seller in the ordinary course of
its business and are the Operating Statements used and relied upon by Seller in connection with its operation of the Property; however Seller does not and will not represent or warrant that Purchaser will be able to, or that Purchaser should be able
to, operate the Property in a manner which will produce results which are the same as or similar to those reflected in the Operating Statements. 

  
 19 

 7.1.4 Leases. To Seller’s knowledge, except for those tenants under
the Leases, as shown on the Rent Roll, there are no other tenants in possession of, or claiming any possession to, any portion of the Property (subject to any new Leases that Seller is permitted to enter into under this Contract prior to Closing).To
Seller’s knowledge, Seller is not in material default or breach under any of the Leases, and Seller is the owner of the lessor’s interest under the Leases. Seller has not conveyed any of the lessor’s interest under the Leases, except
for collateral assignments/liens to be released at Closing. 
 7.1.5 Service Contracts. To Seller’s knowledge,
Seller has not received written notice of any material default under any of the Contracts that will not be terminated on the Closing Date and to Seller’s knowledge, no material default exists under any Service Contract. 

7.1.6 Violations. To Seller’s knowledge, Seller has not received any written notice from any governmental agency of
(i) any uncured material violation of any federal, state, county or municipal law, ordinance, order, regulation or requirement affecting the Property or (ii) any change to the zoning classification of, or any condemnation proceedings or
proceedings to widen or realign any street or highway adjacent to, the Property. 
 7.1.7 Foreign Person. Seller is
not a “foreign person” or a “disregarded entity” as defined in Section 1445 of the Internal Revenue Code, as amended, and the Treasury Regulations thereunder. 

7.1.8 OFAC. Neither Seller nor any of its affiliates is, nor will they become, a person or entity with whom U.S. persons
or entities are restricted from doing business under regulations of the Office of Foreign Asset Control (“OFAC”) of the Department of the Treasury (including those named on OFAC’s Specially Designated and Blocked Persons List)
or under any statute, executive order (including the September 24, 2001, Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism) or other governmental action and does
not, to its actual knowledge, engage in any dealings or transactions or be otherwise associated with such persons or entities. Neither Seller nor any person holding a direct or indirect ownership interest in Seller is described in, covered by or
specially designated pursuant to, or affiliated with any person described in, covered by or specially designated pursuant to, any Anti-Terrorism Law or any list issued by any department or agency of the United States of America in connection with
any Anti-Terrorism Law. “Anti-Terrorism Law” means Executive Order 13224, as amended; the International Emergency Economic Powers Act, 50 U.S.C. Sections 1701-06 et seq.; the Iraqi Sanctions Act, Pub.L. 101-513, 104 Stat.
2047-55; the United Nations Participation Act, 22 U.S.C. Section 287c; the Antiterrorism and Effective Death Penalty Act; the International Security and Development Cooperation Act, 22 U.S.C. Section 2349 aa-9; the Terrorism Sanctions
Regulations, 31 C.F.R. Part 595; the Terrorism List Governments Sanctions Regulations, 31 C.F.R. Part 596; and the Foreign Terrorist Organizations Sanctions Regulations, 31 C.F.R. Part 597. The foregoing does not apply to the extent any
direct or indirect interest in Seller is held through a U.S. Publicly-Traded Entity. As used in this Agreement, “U.S. Publicly-Traded Entity” an entity whose securities are listed on a national securities exchange, or quoted on an
automated quotation system, in the United States. 

  
 20 

 7.1.9 Insolvency. No petition in bankruptcy (voluntary or otherwise),
assignment for the benefit of creditors, or petition seeking reorganization or arrangement or other action under federal or state bankruptcy laws is pending against or contemplated by Seller. 

7.1.10 Hazardous Materials. To Seller’s knowledge, except as disclosed in the Property Information, Seller has
received no written notice of the presence of any Hazardous Materials in, on or under the Improvements or Real Property in violation of any Environmental Law. “ 

7.1.11 Definition of Seller’s Knowledge. Any representations made “to Seller’s knowledge” shall not
be deemed to imply any duty of inquiry. For purposes of this Contract, the term “to Seller’s knowledge” shall mean and refer only to actual knowledge of the Designated Representative of the Seller and shall not be construed to refer
to the knowledge of any other partner, officer, director, agent, employee or representative of the Seller, or any affiliate or parent of the Seller, or to impose upon such Designated Representative any duty to investigate the matter to which such
actual knowledge or the absence thereof pertains, or to impose upon such Designated Representative any individual personal liability. As used herein, the term Designated Representative shall refer to Tiffany Stanley who is the District Manager of
Seller’s property manager with supervisory responsibility for the Property. 
 7.2 Purchaser’s Representations. As a
material inducement to Seller to execute this Contract and consummate this transaction, Purchaser represents to Seller the following as of the Effective Date and as of the Closing Date: 

7.2.1 Organization and Authority. Purchaser has been duly organized and validly exists as a limited partnership in good
standing in the State of Delaware and, as of the Closing Date, will be qualified to do business in the state in which the Property is located. Purchaser has the full right and authority and has obtained any and all consents required to enter into
this Contract and, prior to Closing will have obtained any and all consents required to consummate or cause to be consummated the transactions contemplated hereby. This Contract has been, and all of the documents to be delivered by Purchaser at the
Closing will be, authorized and properly executed and constitutes, or will constitute, as appropriate, the valid and binding obligation of Purchaser, enforceable in accordance with their terms. 

7.2.2 Conflicts and Pending Action. There is no agreement to which Purchaser is a party, or to Purchaser’s
knowledge is binding on Purchaser, whose provisions will be breached by consummation of the transaction contemplated by this Contract. There is no action or proceeding pending or, to Purchaser’s knowledge, threatened against Purchaser which
challenges or impairs Purchaser’s ability to execute or perform its obligations under this Contract. 
 7.2.3
ERISA. Purchaser does not hold the assets of any employee benefit plan within the meaning of 29 C.F.R. §2510.3-101(a)(2). 

  
 21 

 7.2.4 Anti-Terrorism. Purchaser (which for this purpose includes its
partners, members, principal stockholders and any other constituent entities) (i) has not been designated as a “specifically designated national and blocked person” on the most current list published by the U.S. Treasury Department
Office of Foreign Assets Control at its official website, <http://www.treas.gov/ofac/t11 sdn.pdf> or at any replacement website or other replacement official publication of such list and (ii) is currently in compliance with and
will at all times during the term of this Contract (including any extension thereof) remain in compliance with the regulations of the Office of Foreign Asset Control of the Department of the Treasury and any statute, executive order (including the
September 24, 2001, Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism), or other governmental action relating thereto. 

7.3 ADA/FHA Disclosure. Purchaser acknowledges that the Property may be subject to the federal Americans With Disabilities Act (the
“ADA”) and the federal Fair Housing Act (the “FHA”). The ADA requires, among other matters, that tenants and/or owners of “public accommodations” remove barriers in order to make the Property accessible to
disabled persons and provide auxiliary aids and services for hearing, vision or speech impaired persons. Seller makes no warranty, representation or guarantee of any type or kind with respect to the Property’s compliance with the ADA or the FHA
(or any similar state or local law), and Seller expressly disclaims any such representation. Purchaser acknowledges that it is solely responsible for determining whether the Property complies with the ADA and the FHA. The provisions of this
Section 7.3 shall survive indefinitely the Closing or earlier termination of this Contract and shall not be merged into the Deed or other closing documents. 

7.4 Sophisticated Purchaser. Purchaser is a sophisticated and experienced purchaser of multifamily apartment projects, and has
participated in and is familiar with the acquisition, development, redevelopment, ownership, management, and operation of real estate projects similar to the Property. Purchaser has or will have under the terms of this Contract adequate opportunity
to complete and has completed all physical, financial, legal and regulatory investigations and examinations relating to the Property that it deems necessary, and will acquire the same solely on the basis of such investigations and examinations and
the title insurance protection afforded by the Title Policy and not on the basis of any information provided or to be provided by Seller or any Seller’s Representatives (other than as provided to the contrary in Section 7.1). 

Article 8: Miscellaneous 

8.1 Parties Bound. Except for an assignment pursuant to Section 8.2, Purchaser may not assign this Contract without the
prior written consent of Seller, and any such prohibited assignment shall be void; provided however, that Purchaser may assign to an Affiliate the rights to acquire the Property. Subject to the foregoing, this Contract shall be binding upon and
inure to the benefit of the respective legal representatives, successors, assigns, heirs, and devisees of the parties. For the purposes of this Section 8.1, the term “Affiliate” means: (i) an entity that directly or
indirectly controls, is controlled by or is under common control with the Purchaser, or (ii) an entity at least a majority of whose economic interest is owned by Purchaser and the term “control” means the power to direct the
management of such entity through voting rights, ownership or contractual obligations. No assignment shall relieve the assignor of any obligation under the Contract. 

  
 22 

 8.2 Section 1031 Exchange. Purchaser and Seller acknowledge that either party may
wish to structure this transaction as a tax deferred exchange of like-kind property within the meaning of Section 1031 of the Internal Revenue Code. Each party agrees to reasonably cooperate with the other party to effect such an exchange;
provided, however, that: (i) the cooperating party shall not be required to acquire or take title to any exchange property; (ii) the cooperating party shall not be required to incur any expense (excluding attorneys’ fees) or liability
whatsoever in connection with the exchange, including, without limitation, any obligation for the payment of any escrow, title, brokerage or other costs incurred with respect to the exchange; (iii) no substitution of the effectuating party
shall release said party from any of its obligations, warranties or representations set forth in this Contract or from liability for any prior or subsequent default under this Contract by the effectuating party, its successors, or assigns, which
obligations shall continue as the obligations of a principal and not of a surety or guarantor; (iv) the effectuating party shall give the cooperating party at least ten (10) Business Days prior notice of the proposed changes required to
effect such exchange and the identity of any party to be substituted in the Escrow; (v) the effectuating party shall be responsible for preparing all additional agreements, documents and escrow instructions (collectively, the
“Exchange Documents”) required by the exchange, at its sole cost and expense; (vi) the effectuating party shall be responsible for making all determinations as to the legal sufficiency, tax considerations and other
considerations relating to the proposed exchange, the Exchange Documents and the transactions contemplated thereby, and the cooperating party shall in no event be responsible for, or in any way be deemed to warrant or represent any tax or other
consequences of the exchange transaction arising by reason of the cooperating party’s performance of the acts required hereby; and (vii) the Closing Date shall not be changed as a result of such exchange. 

8.3 Headings. The article and section headings of this Contract are for convenience only and in no way limit or enlarge the scope or
meaning of the language hereof. 
 8.4 Invalidity and Waiver. If any portion of this Contract is held invalid or inoperative, then so
far as is reasonable and possible the remainder of this Contract shall be deemed valid and operative, and effect shall be given to the intent manifested by the portion held invalid or inoperative. The failure by either party to enforce against
the other any term or provision of this Contract shall not be deemed to be a waiver of such party’s right to enforce against the other party the same or any other such term or provision in the future. 

8.5 Governing Law. This Contract shall, in all respects, be governed, construed, applied, and enforced in accordance with the law of
the state in which the Real Property is located. 
 8.6 Limitations. 

8.6.1 Limitation Period. Seller’s covenants, indemnities, warranties and representations contained in this Contract
and in any document executed by Seller pursuant to this Contract shall survive Purchaser’s purchase of the Property only for a 

  
 23 

 
period commencing on the Closing Date and ending on the first anniversary of the Closing Date (the “Limitation Period”). Seller’s liability for breach of any such covenant,
indemnity, representation or warranty shall be limited to claims in excess of an aggregate amount of $25,000, and Seller shall be liable only to the extent that such aggregate amount exceeds such figure. Seller’s aggregate liability for claims
arising out of such covenants, indemnities, representations and warranties shall not exceed $300,000. Notwithstanding anything to the contrary contained in this Contract, Seller shall not be liable for consequential, punitive and/or exemplary
damages of any nature whatsoever. Purchaser shall provide written notice to Seller of any alleged breach of such covenants, indemnities, warranties or representations and shall allow Seller 30 days within which to cure such breach, or, if such
breach cannot reasonably be cured within 30 days, an additional reasonable time period not to exceed 90 days, so long as such cure has been commenced within such 30 days and is being diligently pursued. If Seller fails to cure such breach after
written notice and within such cure period, Purchaser’s sole remedy shall be an action at law for actual damages as a consequence thereof, provided that any claim or action at law for actual damages brought after Closing based upon a
misrepresentation or a breach of a covenant, indemnity, warranty or representation under this Contract shall be actionable or enforceable if and only if notice of such claim is given to Seller within ninety-one (91) days following the
expiration of the Limitation Period. The Limitation Period referred to herein shall apply to known as well as unknown breaches of such covenants, indemnities, warranties or representations. Purchaser’s waiver and release set forth in
Section 2.6 shall apply fully to liabilities under such covenants, indemnities, representations and warranties and is hereby incorporated by this reference. Purchaser specifically acknowledges that such termination of liability
represents a material element of the consideration to Seller. The limitation as to Seller’s liability in this Section 8.6.1 does not apply to Seller’s liability with respect to prorations and adjustments under Article 6.
The provision of this Section 8.6.1 shall survive indefinitely the Closing or earlier termination of this Contract and shall not be merged into the Deed or other closing documents. 

8.6.2 Disclosure. Notwithstanding any contrary provision of this Contract, if during the pendency of this Contract
Seller, to its knowledge as defined in Section 7.1.11, becomes aware of any matters which make any of its representations or warranties untrue in any material respect, Seller shall promptly disclose such matters to Purchaser in writing.
In the event that Seller so discloses any matters which make any of Seller’s representations and warranties untrue in any material respect or in the event that Purchaser otherwise becomes aware during the pendency of this Contract prior to
Closing of any matters which make any of Seller’s representations or warranties untrue in any material respect, Seller shall bear no liability for such matters, but Purchaser shall have the right to elect in writing on or before the earlier of
the Closing Date or three (3) Business Days after Seller discloses any such matters to Purchaser, (a) to waive such matters and complete the purchase of the Property without reduction of the Purchase Price in accordance with the terms of
this Contract, or (b) as to any matters disclosed following the expiration of the Inspection Period, to terminate this Contract and receive a refund of the Earnest Money, less the Independent Contract Consideration. 

  
 24 

 8.7 No Third Party Beneficiary. This Contract is not intended to give or confer any
benefits, rights, privileges, claims, actions, or remedies to any person or entity as a third party beneficiary or otherwise. 
 8.8
Time. Time is of the essence in the performance of this Contract. 
 8.9 Press Release. At no time prior to or following
Closing will Purchaser, Seller or their respective brokers release or cause or permit to be released any press notices, or publicity (oral or written) or advertising promotion relating to, or otherwise announce or disclose or cause or permit to be
announced or disclosed, in any manner whatsoever, this transaction or the terms, conditions, or substance of this Contract (including without limitation, the purchase price) without first obtaining the written consent of the other party, which shall
not be unreasonably withheld, conditioned or delayed. The foregoing shall not preclude either party from discussing the substance or any relevant details of such transactions with any of its attorneys, accountants, professional consultants, lenders,
partners, investors, or any prospective lender, partner or investor, as the case may be, or prevent either party hereto, from complying with laws, rules, regulations and court orders, including without limitation, governmental regulatory,
disclosure, tax and reporting requirements. Any party to this transaction (and each employee, agent or representative of the foregoing) may disclose to any and all persons, without limitation of any kind, the tax treatment and tax structure of the
transaction and all materials of any kind (including opinions or other tax analyses) that are provided to them relating to such tax treatment and tax structure except to the extent maintaining such confidentiality is necessary to comply with any
applicable federal or state securities laws. The authorization in the preceding sentence is not intended to permit disclosure of any other information unrelated to the tax treatment and tax structure of the transaction including (without limitation)
(a) any portion of the transaction documents or related materials to the extent not related to the tax treatment or tax structure of the transaction, (b) the existence or status of any negotiations unrelated to the tax issues, or
(c) any other term or detail not relevant to the tax treatment or the tax structure of the transaction. In addition to any other remedies available to a party, each party shall have the right to seek equitable relief, including without
limitation injunctive relief or specific performance, against the other party in order to enforce the provisions of this Section 8.9. 

8.10 Notices. All notices required or permitted hereunder shall be in writing and shall be served on the parties at the addresses set
forth on Exhibit I. Any such notices shall be either (a) sent by overnight delivery using a nationally recognized overnight courier, in which case notice shall be deemed delivered one Business Day after deposit with such courier,
(b) sent by facsimile or email, in which case notice shall be deemed delivered upon receipt of confirmation transmission of such facsimile or email notice, or (c) sent by personal delivery, in which case notice shall be deemed delivered
upon delivery (whether accepted or refused). Any notice sent by facsimile, email or personal delivery and delivered after 5:00 p.m. local time where the Real Property is located shall be deemed received on the next Business Day. A party’s
address may be changed by written notice to the other party; provided, however, that no notice of a change of address shall be effective until actual receipt of such notice. Copies of notices are for informational purposes only, and a failure to
give or receive copies of any notice shall not be deemed a failure to give notice. 

  
 25 

 8.11 Construction. The parties acknowledge that the parties and their counsel have
reviewed and revised this Contract and that the normal rule of construction, to the effect that any ambiguities are to be resolved against the drafting party, shall not be employed in the interpretation of this Contract or any exhibits or amendments
hereto. 
 8.12 Reporting Person. Purchaser and Seller hereby designate the Title Company as the “reporting person”
pursuant to the provisions of Section 6045(e) of the Internal Revenue Code of 1986, as amended. 
 8.13 Calculation of Time
Periods. Unless otherwise specified, in computing any period of time described herein, the day of the act or event after which the designated period of time begins to run is not to be included and the last day of the period so computed is to be
included, unless such last day is not a Business Day, in which event the period shall run until the end of the next Business Day. Additionally, in establishing the Closing Date, if the last day of the computed time period is a Friday or one Business
Day before or after a legal holiday for banks in the state in which the Real Property is located, the Closing Date shall be on the next day which is neither a Friday, Saturday, Sunday or legal holiday. The last day of any period of time described
herein shall be deemed to end at 5:00 p.m. local time where the Real Property is located. 
 8.14 Execution in Counterparts. This
Contract may be executed in any number of counterparts, each of which shall be deemed to be an original, and all of such counterparts shall constitute one Contract. To facilitate execution of this Contract, the parties may execute and exchange by
telephone facsimile, or by e-mail as a .pdf document or other electronic imaging, counterparts of the signature pages, provided that executed originals thereof are promptly forwarded to the other party by any of the delivery methods set forth in
Section 8.10 other than facsimile. 
 8.15 Attorneys’ Fees. Should either party employ attorneys to enforce any of
the provisions hereof, the party against whom any final judgment is entered agrees to pay the prevailing party all reasonable costs, charges, and expenses, including attorneys’ fees, expended or incurred in connection therewith. 

8.16 Entirety and Amendments. This Contract embodies the entire agreement between the parties and supersedes all prior agreements and
understandings relating to the Property except for any confidentiality agreement binding on Purchaser, which shall not be superseded by this Contract. This Contract may be amended or supplemented only by an instrument in writing executed by the
parties. 
 8.17 Procedure for Indemnity. The following provisions govern actions for indemnity under this Contract. Promptly after
receipt by an indemnitee of notice of any claim, such indemnitee will, if a claim in respect thereof is to be made against the indemnitor, deliver to the indemnitor written notice thereof and the indemnitor shall have the right to participate in
such proceeding and, if the indemnitor agrees in writing that it will be responsible for any costs, expenses, judgments, damages, and losses incurred by the indemnitee with respect to such claim, to assume the defense thereof, with counsel mutually
satisfactory to the parties; provided, however, that an indemnitee shall have the right to retain its own counsel, with the fees and expenses to be paid by the indemnitor, if the indemnitee reasonably believes that representation

  
 26 

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

8.18 Waiver of Jury Trial. TO THE EXTENT PERMITTED BY APPLICABLE LAW, THE PARTIES HEREBY WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY
LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS CONTRACT OR THE TRANSACTIONS CONTEMPLATED HEREBY. NEITHER PARTY SHALL SEEK TO CONSOLIDATE ANY SUCH ACTION IN WHICH A JURY HAS BEEN WAIVED WITH ANY OTHER ACTION IN WHICH A JURY TRIAL CANNOT OR HAS
NOT BEEN WAIVED. EACH OF THE PARTIES ACKNOWLEDGES THAT IT HAS RECEIVED THE ADVICE OF COUNSEL WITH RESPECT TO THIS WAIVER. 
 8.19 No
Recording. Neither this Contract or any memorandum or short form thereof may be recorded by Purchaser. 
 8.20 No Partnership.
The relationship of the parties hereto is solely that of Seller and Purchaser with respect to the Property and no joint venture or other partnership exists between the parties hereto. Neither party has any fiduciary relationship hereunder to the
other. 
 8.21 Simultaneous Closings. The obligation of Seller to sell the Property to Purchaser under this Contract is hereby also
made expressly contingent and conditional upon the simultaneous closings of the purchase by Purchaser from ORI Park, Inc., a Nevada corporation (hereinafter called “Other Seller”) of the Camden Pinnacle multi-family residential
apartment complex located in the State of Colorado and described on Exhibit J attached hereto and incorporated herein by reference (herein called “Other Property”), pursuant to that certain Improved Commercial Property
Earnest Money Contract dated of even date herewith, between Other Seller and Purchaser (herein called “Other Purchase Agreement”). If Purchaser, for any reason, (i) terminates the Other Purchase Agreement, (ii) defaults in
its obligation to purchase the Other Property under the Other Purchase Agreement, or (iii) fails to close its purchase of the Other Property simultaneously with its closing of its purchase of the Property pursuant to this Contract (other than
as the result of a default by Seller under this Contract or the Other Seller under the Other Purchase Agreement), Seller may elect, by written notice to Purchaser, to terminate this Contract, in which event the Earnest Money shall (a) be
refunded to Purchaser, if Purchaser is not in default under this Contract or the Other Purchase Agreement, or (b) be retained by Seller as liquidated damages for such default, if Purchaser is in default under this Contract or the Other Purchase
Agreement, and not as a penalty, actual damages being difficult or impossible to measure; and this Contract shall be deemed to be null, void, terminated and of no further force or effect, except as herein to the contrary expressly provided. 

  
 27 

 The obligation of Purchaser to purchase the Property from Seller under this Contract is hereby also made
expressly contingent and conditional upon the simultaneous closing of the purchase by Purchaser of the Other Property from the Other Seller pursuant to the Other Purchase Agreement. If, for any reason, (a) the Other Purchase Agreement is
validly terminated by the Other Seller (except as a result of a default thereunder by Purchaser) or Purchaser, (b) the Other Seller defaults under its obligation to sell the Other Property under the Other Purchase Agreement, or (c) the
Other Seller fails to close the sale of the Other Property to Purchaser simultaneously with Seller’s sale of the Property to Purchaser pursuant to this Contract (other than as a result of a default by Purchaser under this Contract or the Other
Purchase Agreement), Purchaser may elect, by written notice to Seller, to terminate this Contract, in which event the Earnest Money shall be refunded to Purchaser, and this Contract shall be deemed to be null, void, terminated and of no further
force or effect, except as herein to the contrary expressly provided. 
 Notwithstanding anything set forth herein to the contrary, the Inspection Period
and the Closing Dates, respectively, under this Contract and under the Other Purchase Agreement, shall always be identical, and, if any of said dates is changed pursuant to the terms of this Contract or the Other Purchase Agreement, said change
shall also apply to said date under this Contract. 
 8.22 Submission not an Offer. The submission of this Contract to any party by
Seller shall not be construed as an offer, nor shall Purchaser have any rights with respect thereto, unless and until Seller shall execute a copy of this Contract and deliver the same to Purchaser. 

8.23 Independent Responsibility/No Alter Ego. The parties hereby agree that the obligations of the parties under this Contract are
separate and distinct, and that no party’s affiliate (of any type or nature) or other third party is responsible in any manner whatsoever for the debts, liabilities or obligations of any party hereto. As such, the parties agree that no
party’s affiliate (of any type or nature) or other third party is an alter-ego of any other party (or any affiliate thereof) or in any manner is or shall be vicariously, derivatively or otherwise liable for the debts, liabilities or obligations
of any party or any affiliate thereof (collectively, “Derivative Claims”). The parties further agree that, as a material part of and material inducement for the transactions contemplated by this Contract, they will not assert any
Derivative Claims in any dispute, claim or controversy relating to or arising out of this Contract. The provisions of this Section 8.23 shall survive the closing or consummation of the transactions contemplated by this Contract or any
termination or purported termination of this Contract. 
 8.24 Record Access and Retention. Seller shall provide to Purchaser (at
Purchaser’s expense) copies of, or shall provide Purchaser reasonable access to, such factual information as may be reasonably requested by Purchaser, and in the possession or reasonable control of Seller, or its property manager or accountants
(without any requirement for Seller to compile, categorize or otherwise organize such information), to facilitate Purchaser’s auditor to in the conduct of an audit, in accordance with Rule 3-14 of Securities and Exchange Commission Regulation
S-X, of the income statements of the Property for the year to date of the year in which Closing occurs plus the two (2) immediately preceding calendar years (provided, however, that other than fees paid or payable to Seller, a Seller affiliate
or a third party for on-site property management, such audit shall not include an audit of asset management fees internally allocated by Seller (as opposed to paid to a third party) or interest expenses attributable to Seller). Purchaser shall be
responsible for all out-of-pocket 

  
 28 

 
costs associated with this audit. Seller shall reasonably cooperate (at no cost to Seller) with Purchaser’s auditor in the conduct of such audit. In addition, Seller agrees to provide to
Purchaser or any affiliate of Purchaser, if requested by such auditor, historical financial statements for the Property, including (without limitation) income and balance sheet data for the Property, whether requested before or after Closing.
Seller’s obligation to maintain its records for use under this Section 8.24 shall be an on-going condition to Closing for Purchaser’s benefit until Closing. Seller shall maintain its records for use under this Section 8.24 for a
period of not less than one year after the Closing Date. The provisions of this Section shall survive Closing. 
 [Signature Pages Follow]

  
 29 

 SIGNATURE PAGES TO 

REAL ESTATE CONTRACT 
 BY AND
BETWEEN 
 ORI-COLORADO, INC. 

AND 
 RESOURCE REAL ESTATE
OPPORTUNITY OP, LP 
 IN WITNESS WHEREOF, the parties hereto have executed this Contract on the day and year written below. 

 

			
	“SELLER”
	
	ORI-COLORADO, INC.,
	a Nevada corporation
		
	By:	 	 /s/ William W. Sengelmann

	Name:	 	 William W. Sengelmann

	Title:	 	 Senior Vice President

 Date: September 4, 2013 

  
 S-1 

 SIGNATURE PAGES TO 

REAL ESTATE CONTRACT 
 BY AND
BETWEEN 
 ORI-COLORADO, INC. 

AND 
 RESOURCE REAL ESTATE
OPPORTUNITY OP, LP 
  

					
	“PURCHASER”
	
	RESOURCE REAL ESTATE OPPORTUNITY OP, LP, a Delaware limited partnership
		
	By:	 	Resource Real Estate Opportunity REIT, Inc., a Maryland corporation, its general partner
			
		 	By:	 	 /s/ Kevin Finkel

		 	Name:	 	 Kevin Finkel

		 	Title:	 	 President

Date: September 4, 2013 

  
 S-2 

 SIGNATURE PAGES TO 

REAL ESTATE CONTRACT 
 BY AND
BETWEEN 
 ORI-COLORADO, INC. 

AND 
 RESOURCE REAL ESTATE
OPPORTUNITY OP, LP 
 Escrow Agent has executed this Contract in order to agree that Escrow Agent shall act as escrowee with respect to and shall hold the
Earnest Money and the interest earned thereon, in escrow, and shall disburse the Earnest Money, and the interest earned thereon, pursuant to the provisions of Exhibit B hereof. 

 

			
	CHICAGO TITLE COMPANY
		
	By:	 	 /s/ Eric Dahlberg

	Name:	 	 Eric Dahlberg

	Title:	 	 Escrow Officer

Date: September 4, 2013 

  
 S-3 

 LIST OF EXHIBITS 

 

	A	Legal Description 

  

	B	Escrow Instructions 

  

	C	Property Information 

  

	D	Form of Deed 

  

	E	Form of Bill of Sale and Assignment of Leases and Contracts 

  

	F	Form of Notice to Tenants 

  

	G	Rent Roll 

  

	H	Service Contracts 

  

	I	Addresses for Notices 

  

	J	Legal Description of Camden Pinnacle 

 EXHIBIT A 

LEGAL DESCRIPTION 
 Lot 1, 

Block 1, 
 Centennial, 

County of Arapahoe, 
 State of Colorado 

  
 A-1 

 EXHIBIT B 

ESCROW INSTRUCTIONS 

1. Investment and Use of Funds. The Escrow Agent shall invest the Earnest Money in government insured
interest-bearing segregated accounts satisfactory to Purchaser and Seller, shall not commingle the Earnest Money with any funds of the Escrow Agent or others, and shall promptly provide Purchaser and Seller
with confirmation of the investments made. If the Closing under this Contract occurs, the Escrow Agent shall apply the Earnest Money against the Purchase Price due Seller at Closing. 

2. Contract Terminations. Upon a termination of this Contract, either party to this Contract (the “Terminating Party”)
may give written notice to the Escrow Agent and the other party (the “Non-Terminating Party”) of such termination and the reason for such termination. Such request shall also constitute a request for the release of the applicable
Independent Contract Consideration to the Seller and the remainder of the Earnest Money to the Purchaser. The Non-Terminating Party shall then have five Business Days in which to object in writing to the release of the Earnest Money. If the
Non-Terminating Party provides such an objection, then the Escrow Agent shall retain the Earnest Money until it receives written instructions executed by both Seller and Purchaser as to the disposition and disbursement of the Earnest Money, or until
ordered by final court order, decree or judgment, which is not subject to appeal, to deliver the Earnest Money to a particular party, in which event the Earnest Money shall be delivered in accordance with such notice, instruction, order, decree or
judgment. 
 3. Interpleader. Seller and Purchaser mutually agree that in the event of any controversy regarding the Earnest Money,
unless mutual written instructions are received by the Escrow Agent directing the Earnest Money’s disposition, the Escrow Agent shall not take any action, but instead shall await the disposition of any proceeding relating to the Earnest Money
or, at the Escrow Agent’s option, the Escrow Agent may interplead all parties and deposit the Earnest Money with a court of competent jurisdiction in which event the Escrow Agent may recover all of its court costs and reasonable attorneys’
fees. Seller or Purchaser, whichever loses in any such interpleader action, shall be solely obligated to pay such costs and fees of the Escrow Agent, as well as the reasonable attorneys’ fees of the prevailing party in accordance with the other
provisions of this Contract. 
 4. Liability of Escrow Agent. The parties acknowledge that the Escrow Agent is acting solely as a
stakeholder at their request and for their convenience, that the Escrow Agent shall not be deemed to be the agent of either of the parties, and that the Escrow Agent shall not be liable to either of the parties for any action or omission on its part
taken or made in good faith, and not in disregard of this Contract, but shall be liable for its negligent acts and for any loss, cost or expense incurred by Seller or Purchaser resulting from the Escrow Agent’s mistake of law respecting the
Escrow Agent’s scope or nature of its duties. Seller and Purchaser shall jointly and severally indemnify and hold the Escrow Agent harmless from and against all costs, claims and expenses, including reasonable attorneys’ fees, incurred in
connection with the performance of the Escrow Agent’s duties hereunder, except with respect to actions or omissions taken or made by the Escrow Agent in bad faith, in disregard of this Contract or involving willful misconduct or negligence on
the part of the Escrow Agent. 

  
 B-1 

 EXHIBIT C 

PROPERTY INFORMATION 
 Construction Plan
Drawings and Specification Books, to be made available at the Real Property 
 Copies of permits and licenses related to or affecting the Property,
including, Pool and Spa Permits, Elevator Permits (if applicable), Flood Elevation Certifications (if applicable) and Boiler Permits (if applicable) 

Current inspections reports to be made available at the Real Property 

Certificates of Occupancy 
 Soil Reports, if available 

All existing environmental reports prepared for the Seller or in Seller’s possession 

Standard form of apartment lease used by Seller for the Real Property and the right to inspect the existing Leases (electronic) in the possession of the
property manager for the Real Property to be made available at the Real Property. 
 Copies of all Service Contracts for the Real Property (as defined in
the contract) 
 A list of Personal Property, 
 Insurance
Claims History for the current year and the past two years for the Property 
 Floor plans and amenities 

Site Plan for the Real Property 
 Any existing land title survey
for the Real Property (“Existing Survey”) 
 Warranties on major items (i.e., roof) for the Real Property 

Current Rent Rolls for the Real Property and historical monthly rent rolls for the period commencing December 1, 2011 to current date. 

Utility Account List for the Real Property (including names/addresses of utility companies; account numbers) 

Copies of Utility Bills (telephone, electric, water/sewer, gas and cable) for the past three months for the Real Property 

Real Estate Tax Bills for the past two years for the Real Property 

  
 C-1 

 Capital Expenditures current year and prior 2 years for the Property which is included on the Operating
Statements 
 Operating Statements for the Property for the current year and prior two years. 

Accounts payable and accounts receivable detail listing/aging reports as calendar years ending December 31, 2011 and December 31, 2012 and as of the
calendar month end. 
 General ledgers for 2012 and 2013. 

List of current on site staff by name and position. 

  
 C-2 

 EXHIBIT D 

When recorded, return to: 
  

			
	  

	  

	  

	Attention:	 	  

 SPECIAL WARRANTY DEED 

For Ten Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
ORI-COLORADO, INC., a Nevada corporation (“Grantor”), hereby grants, sells and conveys to
                                        
(“Grantee”), that real property located in
                                         County,
Colorado and legally described on Exhibit A attached hereto and incorporated herein by this reference, together with all interests, privileges and easements appurtenant thereto and any and all improvements located thereon (the
“Property”). 
 SUBJECT TO: current taxes not yet due and payable, assessments and any other liens arising therefrom, all
reservations in patents, deed restrictions, if any, all easements, rights of way, covenants, conditions, restrictions, encroachments, liens, encumbrances, obligations and liabilities as may appear of record, and all other matters that can be
determined by a visual inspection or a complete and accurate survey of the Property (collectively, the “Permitted Exceptions”). 

TO HAVE AND TO HOLD the Property, subject to the Permitted Exceptions as aforesaid, unto Grantee, and Grantee’s successors and assigns,
forever; and Grantor does hereby bind Grantor, and Grantor’s successors and assigns, to WARRANT and FOREVER DEFEND, all and singular, the Property, subject to the Permitted Exceptions, unto Grantee, and Grantee’s successors and assigns,
against every person whomsoever lawfully claiming or to claim the same or any part thereof, by, through or under Grantor, but not otherwise. 

DATED effective as of the      day of             ,
20    . 
  

			
	ORI-COLORADO, INC.,
	a Nevada corporation
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 D-1 

					
	STATE OF                     	  	)	  	
		  	) ss	  	
	COUNTY OF                    	  	)	  	

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

WITNESS my hand and official seal. 
  

			
	  

	Notary Public in and for said County and State
	My Commission Expires:	 	  

  
 D-2 

 EXHIBIT A 

PROPERTY 

  
 D-3 

 EXHIBIT E 

BILL OF SALE AND ASSIGNMENT OF LEASES AND CONTRACTS 

This instrument is executed and delivered as of the      day of
            , 201   pursuant to that certain Improved Commercial Property Earnest Money Contract (“Contract”), dated
            , 201  , by and between ORI-COLORADO, INC., a Nevada corporation (“Seller”), and
                    , a                     
(“Purchaser”), covering the real property described in Exhibit A attached hereto (“Real Property”). 

1. Sale of Personalty. For good and valuable consideration, Seller hereby sells, transfers, sets over and conveys to Purchaser the
following without recourse or warranty (the “Personal Property”): 
 (a) Tangible Personalty. All of Seller’s
right, title and interest in and to all fixtures, furniture, equipment, and other tangible personal property, if any, owned by Seller presently located on such property, including without limitation all of the furniture, equipment and other tangible
personal property listed on Exhibit B-1 attached hereto and incorporated herein by reference, but expressly excluding all computer equipment, computer networking equipment, check scanners, facsimile machines, photocopiers, any and all
licenses and software in connection with any of the foregoing exclusions, project signage bearing any name, logo or trademark of Seller or any of its affiliates, golf carts and other motorized vehicles and any items of personal property owned by
tenants, any managing agent or others (the “Tangible Personalty”). 
 (b) Intangible Personalty. All of
Seller’s right, title and interest in and to all entitlements and intangible personal property in connection with or arising out of the design, construction, ownership, occupancy, use, management, operation, maintenance, repair or ownership of
the Real Property (the “Intangible Personal Property”), including without limitation: (a) licenses, permits governmental approvals and certificates of occupancy relating to the operation of the Real Property, (b) the right
to use the name of the Real Property (if any) in connection with the Real Property (but expressly excluding any right to use the name “Camden”, or any derivation thereof, and any other names, logos and trademarks owned by Seller or any of
its affiliates), (c) if still in effect, guaranties and warranties received by Seller from any unrelated third party, contractor, manufacturer or other person in connection with improvements to or operation of the Real Property, and
(d) all local phone numbers and facsimile numbers for the Real Property. 
 2. Assignment of Leases and Contracts. For good and
valuable consideration, Seller hereby assigns, transfers, sets over and conveys to Purchaser, and Purchaser hereby accepts such assignment of, the following without recourse or warranty (the “Assigned Property”): 

(a) Leases. All of Seller’s right, title and interest in and to the tenant leases covering the Real Property and tenant security
deposits which are specifically listed on Exhibit B-2 attached hereto and incorporated herein by reference (“Leases and Deposits”), and Purchaser hereby assumes all of Seller’s obligations under the Leases and Deposits
arising from and after the date of this instrument; 
 (b) Service Contracts. All of Seller’s right, title and interest in and
to the service contracts described in Exhibit B-3 attached hereto and incorporated herein by reference (the “Service Contracts”). 

  
 E-1 

 3. Assumption. Purchaser, for itself and its successors or assigns, hereby assumes the
obligations of Seller under the Leases and Deposits and Service Contracts arising from and after the date of this instrument and shall defend, indemnify and hold harmless Seller from and against any liability, damages, causes of action, expenses,
and attorneys’ fees incurred by Seller by reason of Purchaser’s breach or default of its obligations with respect to the Leases or tenant security deposits arising on and after the date of this instrument. Seller shall defend, indemnify
and hold harmless Purchaser from and against any liability, damages, causes of action, expenses, and attorneys’ fees incurred by Purchaser by reason of Seller’s breach or default of its obligations with respect to the Leases arising before
the date of this instrument. 
 4. Agreement Applies. The covenants, agreements, representations, warranties, releases, indemnities
and limitations provided in the Contract with respect to the property conveyed hereunder (including, without limitation, the limitations of liability provided in the Contract), are hereby incorporated herein by this reference as if herein set out in
full and shall inure to the benefit of and shall be binding upon Purchaser and Seller and their respective successors and assigns. 
 5.
Disclaimer. As set forth in the Contract, which provisions are hereby incorporated by this reference as if herein set out in full, the Personal Property and Assigned Property are conveyed by Seller and accepted by Purchaser AS IS, WHERE IS,
AND WITHOUT ANY REPRESENTATIONS OR WARRANTIES OF WHATSOEVER NATURE, EXPRESS OR IMPLIED, IT BEING THE INTENTION OF SELLER AND PURCHASER EXPRESSLY TO NEGATE AND EXCLUDE ALL WARRANTIES, INCLUDING WITHOUT LIMITATION, THE IMPLIED WARRANTIES OF
MERCHANTABILITY AND FITNESS FOR ANY PARTICULAR PURPOSE, WARRANTIES CREATED BY ANY AFFIRMATION OF FACT OR PROMISE OR BY ANY DESCRIPTION OF THE PROPERTY CONVEYED HEREUNDER, AND ALL OTHER REPRESENTATIONS AND WARRANTIES WHATSOEVER CONTAINED IN OR
CREATED BY THE UNIFORM COMMERCIAL CODE OF THE STATE OR STATES WHERE THE REAL PROPERTY IS LOCATED. 
 6. Counterparts. This instrument
may be executed in multiple counterparts, each of which shall constitute an original and all of which when taken together shall constitute one instrument. 

  
 E-2 

 IN WITNESS WHEREOF, the undersigned have caused this Bill of Sale and Assignment of Leases and
Contracts to be executed as of the date written above. 
  

			
	SELLER:
	
	 ORI-COLORADO, INC.,
 a Nevada
corporation

		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	PURCHASER:
	
	  

		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 E-3 

 Exhibit A 

Legal Description 

  
 E-4 

 Exhibit B-1 

List of Personal Property 

  
 E-5 

 Exhibit B-2 

Leases and Security Deposits 

  
 E-6 

 Exhibit B-3 

Service Contracts 

  
 E-7 

 EXHIBIT F 

NOTICE TO RESIDENTS 

[Date] 
 [VIA FIRST CLASS MAIL] [PERSONAL
DELIVERY] 
 Property Name 
 Address 

City/State/Zip 
 Dear Resident: 

Notice is hereby given to the tenants of Camden Centennial Apartments (the “Property”) that ORI-Colorado, Inc.
(“Landlord”) has sold the Property to
                                        
(“Purchaser”) effective as of this date. Purchaser has assumed all of the obligations of Landlord under your lease, including any obligations with respect to your security deposit. Purchaser acknowledges that it has received and is
responsible for your security deposit, which security deposit has been transferred to Purchaser, less any amounts applied by Landlord. Purchaser is now your landlord and all future rent payments under your lease shall be made to Purchaser. 

In the event that your rent payments are made to Seller via an ACH or other automatic debit system, such payments shall be rejected as of the
date hereof and you should make alternative arrangements with Purchaser for the payment of your rent. 
 Purchaser’s address and
telephone number for purposes of your lease are as follows: 
  

					
		 	  
	  	
		 	  
	  	
		 	  
	  	
		 	  
	  	

  

			
	Sincerely,
	
	 ORI-COLORADO, INC.,
 a Nevada
corporation

		
	By:	 	  

	Name:	 	  

	Title:	 	Authorized Signatory

  
 F-1 

 
			
	PURCHASER
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 F-2 

 EXHIBIT G 

RENT ROLL 

  
 G-1 

 EXHIBIT H 

SERVICE CONTRACTS 
  

			
	 VENDOR
	 	 SERVICE

	Comcast of California/Colorado/Florida/Oregon, Inc.	 	Cable – Bulk Services
	Mac-Gray Corporation	 	Laundry Lease Agreement
	Loss Prevention Technologies	 	Alarm Monitoring Services
	Waste Management of Colorado	 	Trash Service

  
 H-1 

 EXHIBIT I 

ADDRESSES FOR NOTICES 
  

			
	Purchaser:	  	Seller:
		
	 Resource Real Estate Opportunity OP, LP
 3033 E.
1st Avenue, Suite 805
 Denver, Colorado 80206

Attn: Marshall P. Hayes
 Telephone: (303) 209-6351

Facsimile: (303) 553-8409
 email:
mhayes@resourcerei.com
	  	 ORI-Colorado, Inc.
 c/o Camden USA, Inc.

11 Greenway Plaza, Suite 2400
 Houston, Texas 77046

Attn: William W. Sengelmann
 Telephone: (713) 354-2527

Facsimile: (713) 354-2708
 email:
bsengelmann@camdenliving.com

	Copy to:	  	
		
	 Resource Real Estate Opportunity OP, LP
 1845
Walnut Street, 18th Floor
 Philadelphia, PA 19103

Attn: Shelle Weisbaum
 Telephone: (215) 832-4187

Facsimile: (215) 761-0452
 email:
sweisbaum@resourcerei.com
	  	 and:
  

Camden Development, Inc.
 11 Greenway Plaza, Suite 2400

Houston, Texas 77046
 Attn: Stanley Jones

Telephone: (713) 354-2637
 Facsimile: (713) 354-2708

email: scjones@camdenliving.com

	And to:	  	
		  	Copy to:
	 Ledgewood, PC
 1900 Market Street, Suite 750

Philadelphia, PA 19103
 Attn: Stacy C. Bedwick, Esq

Telephone: (215) 731-9450
 Facsimile: (215) 735-2513

email: sbedwick@ledgewood.com
	  	  
 Camden Property Trust

11 Greenway Plaza, Suite 2400
 Houston, Texas 77046

Attn: J. Robert Fisher
 Telephone: (713) 354-2827

Facsimile: (713) 354-2710
 email:
bfisher@camdenliving.com

  
 I-1 

 EXHIBIT J 

LEGAL DESCRIPTION OF CAMDEN PINNACLE 

Parcel One: 
 Lot 2, Block 1, 

Ranch Pecos I Subdivision, according to the plat recorded November 10, 1972 in Plat Book F13 at Page 110, County of Adams, State of Colorado. 

Parcel Two: 
 together with those certain easements set forth on
Exhibits C and D on Use and Easement Declarations, recorded November 2, 1974 in Book 1963 at Pages 388 and 397, in Clerk and Recorders office of the County of Adams, State of Colorado. 

  
 J-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00221-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00221-of-00352.parquet"}]]