Document:

<PAGE>

                                                                    EXHIBIT 10.2

                           PURCHASE AND SALE AGREEMENT

                  Seller:       CISCO SYSTEMS, INC.,
                                A CALIFORNIA CORPORATION

                  Buyer:        NETWORK APPLIANCE, INC.,
                                A DELAWARE CORPORATION

                  Dated as of:  July_______, 2004

                  Property:     Research Triangle Park Site 12
                                Buildings 13, 14 and 15
                                7301-13 Kit Creek Road
                                7301-14 Kit Creek Road
                                7301-15 Kit Creek Road
                                Research Triangle Park, North Carolina 27709

                            SUBMISSION NOT AN OPTION

    THE SUBMISSION OF THIS AGREEMENT FOR EXAMINATION AND NEGOTIATION DOES NOT
  CONSTITUTE AN OFFER TO SELL, A RESERVATION OF, OR OPTION FOR THE PROPERTY AND
   SHALL VEST NO RIGHT IN ANY PARTY. BUYER OR ANYONE CLAIMING UNDER OR THROUGH
    BUYER SHALL HAVE THE RIGHTS TO THE PROPERTY AS SET FORTH HEREIN AND THIS
      AGREEMENT SHALL BECOME EFFECTIVE AS A AGREEMENT ONLY UPON EXECUTION,
   ACKNOWLEDGMENT AND DELIVERY THEREOF BY SELLER AND BUYER, REGARDLESS OF ANY
WRITTEN OR VERBAL REPRESENTATION OF ANY AGENT, MANAGER OR EMPLOYEE OF SELLER TO
                                  THE CONTRARY.

<PAGE>

                           PURCHASE AND SALE AGREEMENT

         Buyer and Seller hereby enter into this Purchase and Sale Agreement
(this "Agreement"), intending to be legally bound hereby, as of July ____, 2004
(the "Effective Date") (i.e., the date both parties have executed this
Agreement).

         1.       DEFINED TERMS:

                  a.       The terms listed below shall have the following
                           meanings throughout this Agreement:

Buyer:                     Network Appliance, Inc., a Delaware corporation

Buyer's Address:           495 East Java Drive
                           Sunnyvale, California 94089
                           Attn: Vice President, Work Place Resources

Closing Date:              The Effective Date, or such later date (but no later
                           than July 30, 2004) as may be agreed to in writing
                           between Buyer and Seller.

Improvements:              A four story office building (Building 13), a three
                           story office building (Building 14), and a three
                           story office building (Building 15), all with
                           accessory surface parking areas and other
                           improvements located on or affixed to the Land,
                           including any and all, heating, air conditioning and
                           ventilation lines, utilities and boilers, fixtures,
                           parking areas, and landscaping.

Leases:                    None.

Land:                      That certain parcel of land located in Research
                           Triangle Park, Wake County, North Carolina, more
                           particularly described on Exhibit A attached hereto,
                           together with all rights and interests appurtenant
                           thereto.

Operating

Agreements:                (i) all assignable contracts and agreements
                           (collectively, the "Service Contracts") (it being
                           understood that there are no Service Contracts), and
                           (ii) all assignable licenses, permits, plans,
                           drawings, soils reports, engineering reports,
                           warranties, guaranties, and indemnities in favor of
                           the Seller relating to or affecting the ownership,
                           maintenance or use of the Property, together with any
                           and all amendments, modifications or supplements
                           thereto (collectively, the "Intangibles").

Personal Property:         All items of tangible personal property
                           owned by Seller located at or attached and
                           appurtenant to or forming a part of the Property.

Property:                  The Real Property, the Personal Property, and the
                           Operating Agreements.

                                       2
<PAGE>

Property Address:          Research Triangle Park Site 12
                           Buildings 13, 14 and 15
                           7301-13 Kit Creek Road
                           7301-14 Kit Creek Road
                           7301-15 Kit Creek Road
                           Research Triangle Park, North Carolina 27709

Purchase Price:            $23,968,760.00, all cash.

Real Property:             The Land and the Improvements.

Review Period:             The period commencing as of June 30, 2004 (which the
                           parties acknowledge is the commencement date of the
                           Review Period even though such date is before the
                           date this Agreement is fully executed), and ending
                           immediately prior to the Closing.

Seller:                    Cisco Systems, Inc., a California corporation

Seller's Address:          170 West Tasman Drive
                           San Jose, California 95134-1706
                           Attn: Director, Americas Real Estate

Tenants:                   None.

Title Company/             Chicago Title Insurance Company
Escrow Agent:              150 Fayetteville Street Mall, Suite 1130 (27601)
                           P.O. Box 1880
                           Raleigh, North Carolina 27602-1883
                           Attn: Ms. Dixie R. Ladrie

                                       3
<PAGE>

b.       The following terms are defined in the referenced portion of this
         Agreement:

<TABLE>
<CAPTION>
          Defined Term                            Defined In
<S>                                         <C>
Agreement                                   Preliminary Statement
Buyer's Agents                              Section 4
Closing                                     Section 7.a
Contingencies                               Section 5.a
Deed                                        Section 2.a
Forced Removal Title Exceptions             Section 6.c
General Instrument                          Section 2.b
Hazardous Substances                        Section 11.k
Mortgage Exceptions                         Section 6.c
Notice                                      Section 21
Review Materials                            Section 4
Seller's Documents                          Section 8.a
Specimen Title Policy                       Section 6.a
Survey                                      Section 6.a
Title Commitment                            Section 6.a
Title Requirements                          Section 6.a
</TABLE>

         2.       PURCHASE OF PROPERTY: PAYMENT OF PURCHASE PRICE.

         Seller shall sell the Property to Buyer, and Buyer shall purchase the
Property from Seller, subject to all of the terms, covenants and conditions
hereinafter set forth in this Agreement.

                  a.       Real Property. Seller shall sell the Real Property to
Buyer, and Buyer shall purchase the Real Property from Seller, on all of the
mutual terms, covenants and conditions hereinafter set forth in this Agreement.
The Real Property shall be conveyed to Buyer by a Special Warranty Deed ("DEED")
in the form attached hereto as Exhibit B and incorporated herein by this
reference.

                  b.       Other Interests. All other interests of Seller in the
Property (including the Personal Property) shall be transferred and assigned by
Seller to Buyer pursuant to the General Instrument of Transfer ("GENERAL
INSTRUMENT") in the form annexed hereto as Exhibit C and incorporated herein by
this reference.

         3.       [Intentionally Deleted]

         4.       DELIVERY OF MATERIALS FOR REVIEW; CONFIDENTIALITY.

         In connection with Buyer's acquisition of the Property, Seller has
delivered to Buyer or made available to Buyer for its review at the Property, at
Seller's Address or at the offices of O'Brien/Atkins Associates, PA, located in
Research Triangle Park, North Carolina, any operating files maintained by Seller
or its property manager in connection with the leasing, current maintenance
and/or management of the Property, including, without limitation, operating
agreements, insurance policies, bills, invoices, receipts and other general
records relating to the

                                       4
<PAGE>

income and expenses of the Property, correspondence, surveys, plans and
specifications, warranties for services and materials provided to the Property,
environmental audits and similar materials, but excluding materials not directly
related to the leasing, current maintenance and/or management of the Property
such as, without limitation, Seller's internal memoranda, financial projections,
budgets, appraisals, accounting and tax records and similar proprietary,
elective or confidential information ("REVIEW MATERIALS"). In addition to the
Review Materials, Seller has made available to Buyer at such place or places at
the Property, in the offices of the property manager or elsewhere as the same
may be located, copies of all other materials and other information in
connection with the leasing, current maintenance and/or management of the
Property, to the extent the same were requested by Buyer.

         The Review Materials and all materials, books and records made
available to or examined by or on behalf of Buyer pursuant to this Agreement
shall: (i) be held in strict confidence by Buyer; (ii) not be used for any
purpose other than the investigation and evaluation of the Property by Buyer and
its lenders, attorneys, engineers, consultants and representatives
(collectively, "BUYER'S AGENTS"); and (iii) not be disclosed, divulged or
otherwise furnished to any other person or entity except to Buyer's Agents or as
required by law. If this Agreement is terminated for any reason whatsoever,
Buyer shall return to Seller all of the Review Materials, in the possession of
Buyer and Buyer's Agents. The provisions of this Section shall survive the
termination of this Agreement.

         5.       CONTINGENCIES.

                  a.       Contingencies to Purchase. Buyer's obligation to
purchase the Property is subject to the satisfaction of the contingencies
described below ("CONTINGENCIES TO PURCHASE").

                           (1)      Seller shall have delivered to Escrow Agent
         or Buyer all of the items required to be delivered to Escrow Agent or
         Buyer pursuant to the terms of this Agreement, including but not
         limited to, those required to be delivered by Seller pursuant to
         Section 8.

                           (2)      All of the representations and warranties of
         Seller contained in this Agreement shall be true and correct in all
         material respects as of the Closing Date (with appropriate
         modifications permitted under this Agreement or not materially adverse
         to Buyer).

                           (3)      Seller shall have performed and observed, in
         all material respects, all covenants and agreements of this Agreement
         to be performed and observed by Seller as of the Closing Date.

                  b.       Contingencies to Sell. Seller's obligation to sell
the Property is subject to the satisfaction of the contingencies described below
("CONTINGENCIES TO SELL").

                           (1)      Seller shall have received the Purchase
         Price as adjusted pursuant to and payable in the manner provided for in
         this Agreement.

                                       5
<PAGE>

                           (2)      Buyer shall have delivered to Escrow Agent
         or Seller all of the items required to be delivered to Escrow Agent or
         Seller pursuant to the terms of this Agreement, including but not
         limited to, those provided for in Section 8.

                           (3)      All of the representations and warranties of
         Buyer contained in this Agreement shall be true and correct in all
         material respects as of the date of Closing.

                           (4)      Buyer shall have performed and observed, in
         all material respects, all covenants and agreements of this Agreement
         to be performed and observed by Buyer as of the date of Closing.

                           (5)      Seller shall have received written approval
         of this transaction from Research Triangle Foundation of North
         Carolina.

                  6.       TITLE. At Closing, Seller shall convey and transfer
to Buyer such title to the Property as will enable the Title Company to issue to
Buyer, at Buyer's expense, an ALTA Owner's Policy of Title Insurance (the "TITLE
POLICY") covering the Property, in the full amount of the Purchase Price.
Notwithstanding anything contained herein to the contrary, the Property shall be
conveyed subject to the following matters, which shall be deemed to be Permitted
Exceptions: (i) the lien of all ad valorem real estate taxes and assessments not
yet due and payable as of the date of Closing, subject to adjustment as herein
provided; (ii) local, state and federal laws, ordinances or governmental
regulations, including but not limited to, building and zoning laws, ordinances
and regulations, now or hereafter in effect relating to the Property; and (iii)
items appearing of record (other than the Forced Removal Title Exceptions (as
defined below)) or shown on the Survey.

                  (a)      Title Commitment; Survey. Buyer, at Buyer's expense,
shall have the right to cause the issuance of (i) a commitment of the Title
Company ("TITLE COMMITMENT") for an owner's title insurance policy in the form
of a specimen ALTA Form B (1987) with respect to the Real Property ("SPECIMEN
TITLE POLICY"), containing such endorsements, affirmative coverages, deletions
of printed exceptions and title exceptions, and reinsurance agreements as Buyer
shall approve, and Title Company agrees to issue, and specifying Title Company's
requirements relating to the issuance of such Specimen Title Policy ("TITLE
REQUIREMENTS") and (ii) an ALTA survey of the Real Property by a duly licensed
surveyor showing all physical conditions affecting the Real Property sufficient
for the deletion of the survey exception in accordance with the Title
Requirements ("SURVEY").

                  (b)      [Intentionally Deleted]

                  (c)      Forced Removal Title Exceptions. Seller hereby agrees
that it shall remove (x) a mechanic's or materialman's lien for work performed
on the Property at the request of Seller; or (y) a mortgage or related security
documents or similar encumbrance given to secure indebtedness for money borrowed
by Seller ("MORTGAGE EXCEPTIONS") (all of the foregoing in (x) and (y))
hereinafter collectively referred to as "FORCED REMOVAL TITLE EXCEPTIONS").

                                       6
<PAGE>

         7.       CLOSING REQUIREMENTS.

                  a.       The Closing. On the Closing Date, all matters to be
performed under this Agreement incident to the sale of the Property, and the
payment of the Purchase Price (collectively, "CLOSING") shall be performed at
the offices of Escrow Agent in Raleigh, North Carolina, or other mutually
acceptable location agreed to in writing by Buyer and Seller. The Closing shall
commence at 10:00 a.m. Notwithstanding anything in this Section 7.a to the
contrary, the parties agree to use commercially reasonable efforts to pre-close
the transaction contemplated hereby (i.e., sign documents into escrow) on the
business day immediately preceding the then-scheduled date of Closing.

                  b.       Possession and Condition of the Property. Without
limiting the generality of the foregoing, at Closing full possession of the Real
Property is to be delivered to Buyer, subject to the Permitted Exceptions.

         8.       CLOSING DELIVERIES.

                  a.       Seller's Deliveries. Seller shall deliver or cause to
be delivered the following documents ("SELLER'S DOCUMENTS") at or prior to the
Closing:

                           (1)      The duly executed and acknowledged Deed.

                           (2)      A certification duly executed by Seller
         under penalty of perjury stating that Seller is not a "foreign person"
         within the meaning of Section 1445 of the Internal Revenue Code of
         1986, as amended, in the form annexed hereto as Exhibit E.

                           (3)      Originals (or copies thereof if originals
         are not available) of all documents and materials in the possession of
         Seller or Seller's agents assigned pursuant to the General Instrument.

                           (4)      Originals (or copies thereof if originals
         are not available) of all Review Materials if not already provided, and
         all other books and records of Seller in the possession or control of
         Seller pertaining in a material way to the operation and management of
         the Property (excluding materials not directly related to the
         maintenance, operation or management of the Property such as, without
         limitation, Seller's internal memoranda, financial projections,
         budgets, appraisals, accounting and income tax records and similar
         proprietary, elective or confidential information).

                           (5)      [Intentionally Deleted]

                           (6)      [Intentionally Deleted]

                           (7)      Such affidavits as the Title Company may
         reasonably require in order to omit from any title insurance policy
         issued to Buyer or Buyer's mortgagee except for (i) parties in
         possession and (ii) mechanic's liens created by or through Seller.

                           (8)      Any corporate, partnership or other
         authorization documents necessary to record the Deed.

                                       7
<PAGE>

                           (9)      Evidence as the Title Company may reasonably
         require as to the authority of any individuals or constituent members
         in Seller to execute any instruments executed and delivered by Seller
         at Closing.

                           (10)     Any of the following which are requested by
         Buyer and in the possession of or reasonably available to Seller: any
         and all keys, and lock and safe combinations.

                           (11)     Additional documents reasonably required by
         the Title Company to consummate the transaction expressly contemplated
         by this Agreement.

                  b.       Mutual Deliveries. Buyer and Seller shall deliver or
cause to be delivered the following at or prior to the Closing:

                           (1)      Executed counterparts of the General
         Instrument; and

                           (2)      A closing statement reflecting the
         adjustments made at the Closing and described in Section 9 hereof.

                  c.       Buyer's Deliveries. Buyer shall, at or prior to the
Closing:

                           (1)      Pay to Seller the full amount of the
         Purchase Price (plus any additional funds necessary to pay Buyer's
         share of closing costs and prorations, as hereinafter set forth) by
         wire transfer of immediately available funds; and

                           (2)      [Intentionally Deleted]

                           (3)      Deliver evidence as the Title Company may
         reasonably require as to the authority of any individuals or
         constituent members in Buyer to execute any instruments executed and
         delivered by Buyer at Closing.

         9.       CLOSING COSTS AND PRORATIONS. At Closing, closing costs shall
be paid and prorations made as follows:

                  a.       Closing Costs. Seller shall pay: (a) the fees of any
counsel representing it in connection with this transaction; (b) one-half (1/2)
of any escrow fee which may be charged by the Title Company; and (c) all state,
county, or local transfer (excise) taxes. Buyer shall pay: (u) the fees of any
counsel representing it in connection with this transaction; (v) recording
charges and costs; (x) the fee for any title exam and the title insurance
premium for the Owner's title insurance policy issued at Closing to Buyer by the
Title Company; (y) the costs for the Survey; and (z) one-half (1/2) of any
escrow fee charged by the Title Company.

                  b.       Prorations. The Purchase Price shall be subject to
the following prorations. All such prorations shall be made so that Buyer has
the benefit of rent and bears the burden of expenses as of 12:01 a.m. on the
date of Closing.

                           (1)      Taxes. Non-delinquent real property taxes
         and non-delinquent general and special assessments shall be prorated
         through the Closing Date on the basis of

                                       8
<PAGE>
         the calendar year for such taxes and assessments. Delinquent real
         property taxes or delinquent general or special assessments shall be
         paid at Closing, and Seller shall be charged an amount equal to that
         portion of such taxes or assessments which relates to the period prior
         to Closing. If the Closing Date shall occur before the real property
         tax rate for such calendar year is fixed, the apportionment of taxes
         shall be made on the basis of the taxes assessed for the preceding
         calendar year. After the real property taxes are finally fixed for the
         calendar year in which the Closing Date occurs, Seller and Buyer shall
         make a recalculation of the apportionment of such taxes, and Seller or
         Buyer, as the case may be, shall make an appropriate payment to the
         other based on such recalculation. To the extent Seller has undertaken
         to obtain any real estate tax abatement, the amount of the net proceeds
         of such tax abatement shall be prorated through the Closing Date, if,
         as and when such proceeds are paid by the applicable governmental
         taxing authority.

                           (2)      Utilities. Final readings on all gas, water
         and electric meters shall be made as of the Closing Date, if possible.
         If final readings are not possible, gas, water and electricity charges
         will be prorated based on the most recent period for which costs are
         available. Any deposits made by Seller with utility companies shall be
         returned to Seller by such utility companies. Buyer shall be
         responsible for making all arrangements for the continuation of utility
         services.

         Notwithstanding any of the foregoing provisions: the Personal Property
is included in this sale, without further charge, except that Buyer shall pay to
Seller the amount of any and all sales or similar taxes payable in connection
with the Personal Property, if any, and Buyer shall execute and deliver any tax
returns required of it in connection therewith, said obligations of Buyer to
survive Closing.

         10.      DEFAULT.

                  a.       Buyer's Default. If Seller is not in default of
Seller's representations, warranties and covenants under this Agreement and is
ready, willing and able to convey the Property in accordance with this
Agreement, and Buyer fails to consummate this Agreement and take title, then the
parties hereto recognize and agree that the damages that Seller will sustain as
a result thereof will be substantial, but difficult if not impossible to
ascertain and Seller shall, as its sole remedy, be entitled to retain the
Deposit as liquidated damages, and not as a penalty and neither party shall have
any further rights or obligations with respect to the other under this
Agreement, except for the those which are expressly stated to survive
termination of this Agreement. Buyer agrees not to interpose any defense or
otherwise seek to interfere with Seller's retention and ownership of the
Deposit.

                  b.       Seller's Default. In the event that Buyer is not in
default of Buyer's representations, warranties and covenants under this
Agreement and is ready, willing and able to take title to the Property in
accordance with this Agreement, and Seller fails to consummate this Agreement
and convey title as set forth herein, Buyer shall have an action for specific
performance of Seller's obligations to execute the documents required to convey
the Property to Buyer, it being understood that the remedy of specific
performance shall not be available to enforce any other obligation of Seller
hereunder; alternatively, Buyer may elect to terminate this Agreement and
recover the Deposit. In either such case, Buyer shall have no right to an action

                                       9
<PAGE>

for damages against Seller other than for the return of the Deposit. Buyer shall
be deemed to have elected to terminate this Agreement and receive back the
Deposit if Buyer fails to file suit for specific performance against Seller in a
court having jurisdiction in the county and state in which the Property is
located, on or before sixty (60) following the date upon which Closing was to
have occurred.

         11.      SELLER'S REPRESENTATIONS AND WARRANTIES. Seller hereby makes
the following representations and warranties to Buyer as of the Effective Date:

                  a.       Due Authorization. Seller is duly organized, validly
existing, and in good standing under the laws of the State of California, has
all necessary power and authority to own and use its properties and to transact
the business in which it is engaged, and has full power and authority to enter
into this Agreement, to execute and deliver the documents and instruments
required of Seller herein, and to perform its obligations hereunder. Seller is
duly authorized to execute and deliver, and perform this Agreement and all
documents and instruments and transactions contemplated hereby or incidental
hereto.

                  b.       Leases. There are no leases or occupancy agreements
to which Seller is a party affecting the Property.

                  c.       No Conflict. The execution and delivery of, and
consummation of the transactions contemplated by this Agreement is not
prohibited by, and will not conflict with, constitute grounds for termination
of, or result in the breach of any agreement or instrument to which Seller is
now a party or otherwise subject.

                  d.       Notices. To Seller's knowledge, prior to the
Effective Date Seller has received no written notice or citation (a "NOTICE")
from any federal, state, county or municipal authority or any other party
alleging any fire, health, safety, building pollution, environmental, zoning or
other violation of any law, regulation, permit, order or directive in respect of
the Property or any part thereof which violation remains outstanding.

                  e.       Legal Proceedings. Seller has received no written
notice of any actions, suits or proceedings, pending before any court,
commission, agency or other administrative authority against, or affecting the
Property which, if adversely determined, could individually or in the aggregate
have a materially adverse effect on title to the Property or any portion thereof
or which could in any material way interfere with the consummation by Seller of
the transaction contemplated by this Agreement.

                  f.       [Intentionally Deleted]

                  g.       Eminent Domain. Seller has received no written notice
from any governmental authority that any eminent domain proceedings relating to
the Property are pending, and to Seller's knowledge no such proceedings are
threatened.

                  h.       No Other Contracts. There are no other written
agreements affecting the Property by which Purchaser would be bound other than
the Operating Agreements, the Permitted Exceptions and this Agreement (and the
closing documents executed by Buyer in connection herewith).

                                       10
<PAGE>

                  i.       Updating of Schedules Exhibits Representations and
Warranties. Seller shall modify, update and supplement all representations,
warranties, exhibits and schedules attached to or delivered in connection with
this Agreement through the Closing Date to the extent required to make such
representations, warranties, exhibits and schedules true, accurate and complete.

                  j.       As-Is Purchase. As a material inducement to Seller to
execute this Agreement, Buyer acknowledges, represents and warrants that,
subject to and in reliance on the representations and warranties of Seller set
forth in this Section 11, upon the satisfaction or waiver of the Contingencies
(i) Buyer will have fully examined and inspected the Property, together with the
Review Materials and such other documents and materials with respect to the
Property which Buyer deems necessary or appropriate in connection with its
investigation and examination of the Property, (ii) Buyer will have accepted the
foregoing and the physical condition, value, presence/absence of Hazardous
Substances, financing status, use, leasing, operation, tax status, income and
expenses of the Property, (iii) except with respect to Seller's representations
and warranties as set forth in this Section 11 (subject to the limitations set
forth in this Section 11, including, without limitation, in subsections l and
m), the Property will be purchased by Buyer "AS IS" and "WHERE IS" and with all
faults and, upon Closing, Buyer shall assume responsibility for the physical
condition of the Property and (iv) Buyer will have decided to purchase the
Property solely on the basis of its own independent investigation. Except as
expressly set forth herein or in Seller's Documents, Seller has not made, does
not make, and has not authorized anyone else to make any representation as to
the present or future physical condition, value, presence/absence of Hazardous
Substances, financing status, leasing, operation, use, tax status, income and
expenses or any other matter or thing pertaining to the Property, and Buyer
acknowledges that no such representation or warranty has been made and that in
entering into this Agreement it does not rely on any representation or warranty
other than those expressly set forth in this Agreement or in Seller's Documents.
EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT OR IN SELLER'S DOCUMENTS, SELLER
MAKES NO WARRANTY OR REPRESENTATION, EXPRESS OR IMPLIED OR ARISING BY OPERATION
OF LAW, INCLUDING, WITHOUT LIMITATION, ANY WAY OF CONDITION, HABITABILITY,
MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE OF THE PROPERTY. Seller
shall not be liable for or bound by any verbal or written statements,
representations, real estate broker's "setups" or information pertaining to the
Property furnished by any real estate broker, agent, employee, servant or any
other person unless the same are specifically set forth in this Agreement or in
Seller's Documents. The provisions of this Section l1.j. shall survive the
Closing. If Buyer shall proceed to Closing with actual knowledge of any matter,
or as to any matter set forth in the Review Materials which is in conflict with
any of Seller's representations, warranties or indemnities made in this
Agreement, Buyer shall be deemed to have waived such Seller's representations,
warranties or indemnities to the extent inconsistent with such actual knowledge
or the contents of such Review Materials.

                  k.       Environmental Status. Except as disclosed in Exhibit
F and the additional reports and/or governmental files referred to therein, to
Seller's knowledge, Seller has received no written notification that any
governmental or quasi-governmental authority has determined that there are any
violations of any environmental statutes, ordinances or regulations affecting
the Property. As used herein, the term "HAZARDOUS SUBSTANCES" shall include,

                                       11
<PAGE>

asbestos-containing materials, polychlorinated biphenyls, flammable materials,
explosives, radioactive materials, petroleum products and those materials or
substances now or heretofore defined as "hazardous substances," "hazardous
materials," "hazardous waste," "toxic substances," or other similar designations
under 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, 42 U.S.C. Section 6901 et seq., the Hazardous Materials
Transportation Act, 49 U.S.C. Section 1801 et seq., the Federal Water Pollution
Control Act, 33 U.S.C. Section 1251 et seq., the Clean Air Act, 42 U.S.C.
Section 7401 et seq., the Toxic Substances Control Act, 15 U.S.C. Section 2601
et seq., the Refuse Act, 33 U.S.C. Section 407 et seq., together with all
implementing regulations or any other applicable similar state federal, county,
regional, municipal or local law, statute, ordinance, rule or regulation
governing the control of substances dangerous to public health or safety as same
may be amended from time to time.

                  l.       Limitation of Seller's Representations. All
representations and warranties made by Seller in this Agreement, unless
expressly provided otherwise, shall not survive the Closing. Where
representations and warranties are made in this Agreement to "Seller's
knowledge," such phrase shall mean and be limited to the actual knowledge of
Suzanne Cooper, Chris Kite and Thomas Colwell (the "DESIGNATED EMPLOYEES") and
shall not be construed, by imputation or otherwise, to refer to the knowledge of
Seller or any affiliate of Seller, to any property manager or to any officer,
agent, manager, representative or employee of Seller or any affiliate of Seller,
or to impose upon such Designated Employees any duty to investigate the matter
to which such actual knowledge, or the absence thereof, pertains.

                  m.       Survival of Seller's Representations and Warranties.
The representations and warranties of Seller set forth in this Section 11, as
updated by the certificate of Seller to be delivered to Buyer at Closing in
accordance with Section 8.a(6) hereof, shall survive Closing for a period of
twelve (12) months. No claim for a breach of any representation or warranty of
Seller shall be actionable or payable (a) if the breach in question results from
or is based on a condition, state of facts or other matter which was actually
known to Buyer or disclosed in writing to Buyer prior to Closing, (b) unless the
valid claims for all such breaches collectively aggregate more than
Fifty-Thousand Dollars ($50,000.00), in which event the full amount of such
claims shall be actionable, and (c) unless written notice containing a
description of the specific nature of such breach shall have been given by Buyer
to Seller prior to the expiration of said twelve (12) month period and an action
shall have been commenced by Buyer against Seller within ninety (90) days after
the termination of the survival period provided for above in this Section. Buyer
agrees to first seek recovery under any insurance policies and service contracts
prior to seeking recovery from Seller, and Seller shall not be liable to Buyer
if Buyer's claim is satisfied from such insurance policies and service
contracts. As used herein, the term "Cap" shall mean the total aggregate amount
of One Million Dollars ($1,000,000.00). In no event shall Seller's aggregate
liability to Buyer under this Agreement, for breach of any representation or
warranty of Seller in this Agreement or the certificate to be delivered by
Seller at Closing pursuant to Section 8.a(6) hereof or otherwise for any other
breach by Seller under this Agreement, exceed the amount of the Cap.

         12.      BUYER'S REPRESENTATIONS AND WARRANTIES. Buyer hereby makes the
following representations and warranties to Seller as of the Effective Date:

                                       12
<PAGE>

                  a.       Due Authorization. Buyer is duly organized, validly
existing, and in good standing under the laws of the State of Delaware, is duly
qualified and in good standing under the laws of the State of North Carolina,
has full power to execute, deliver and carry out the terms and provisions of
this Agreement and has taken all necessary action to authorize the execution,
delivery and performance of this Agreement, and the individual(s) executing this
Agreement on behalf of Buyer has the authority to bind Buyer to the terms and
conditions of this Agreement.

                  b.       Enforceability. This Agreement and all documents
required hereby to be executed by Buyer, when so executed, shall be legal,
valid, and binding obligations of Buyer, enforceable against Buyer in accordance
with their respective terms, subject to applicable bankruptcy, insolvency,
reorganization, moratorium, and other similar laws affecting the rights of
creditors generally and, as to enforceability, to general principles of equity
(regardless of whether enforcement is sought in a proceeding in equity or at
law).

         13.      GENERAL COVENANTS. The parties covenant to do the following.

                  a.       [Intentionally Deleted]

                  b.       Entry; Buyer's Inspection; Termination. During the
Review Period, Buyer and Buyer's Agents may enter the Property from time to time
(and without unreasonably interfering with the operation of the Property) for
purposes of (i) performing non-invasive physical tests (except that Buyer may
perform minor testing to determine the presence of asbestos-containing
materials, termites and other wood destroying insects, provided that all damage
resulting therefrom is promptly repaired by Buyer at its sole expense and to
Seller's reasonable satisfaction) and (ii) conduct any and all engineering,
environmental and other inspections at the Property and examine and evaluate
relevant agreements and documents within the possession of Seller or subject to
its control as Buyer may reasonably request. No soil and/or ground water
sampling shall be performed unless and until the location, scope and methodology
of such sampling and the environmental consultant selected by Buyer to perform
such sampling have all been approved by Seller. Prior to conducting any such
sampling, Buyer shall have a utility mark-out performed for the Property. Copies
of all environmental and engineering reports prepared by or on behalf of Buyer
with respect to the Property shall be provided promptly to Seller. With respect
to Buyer's right to inspect the Property, Buyer agrees that each inspection
shall be performed during normal business hours or at such other times as Seller
and Buyer shall mutually agree. Seller shall have the right, at its option, to
cause Seller's representative to be present at all inspections, reviews and
examinations conducted on the Property by Buyer. All communications in
connection with this Agreement and/or access to the Property shall be through
Suzanne Cooper and no one else. Such inspections, assessments and tests shall
not damage the Property in any respect, shall not be invasive in any respect
(unless Buyer obtains Seller's prior written consent), and shall be conducted in
accordance with standards customarily employed in the industry and in compliance
with all governmental laws, rules and regulations. Following each entry by Buyer
with respect to inspections and/or tests on the Property, Buyer shall restore
the Property to a condition which is as near to its original condition as
existed prior to any such inspections and/or tests. Buyer shall not contact any
third parties in connection with the Property without obtaining Seller's prior
consent and shall not disrupt Seller's activities on the Property. Buyer shall
obtain, pay for, and maintain at all times during the term of this Agreement,
insurance policies and minimum limits of coverage as designated below, and any

                                       13
<PAGE>

other insurance required by law, regulation or order, with insurance companies
licensed to do business in the state in which Buyer's activities hereunder are
to be performed, with an A.M. Best's Insurance Rating of A:VIII or better. In no
way do these minimum requirements limit the liability assumed elsewhere in this
Agreement, including but not limited to Buyer's defense and indemnity
obligations.

                  (i)      Workers' Compensation insurance as required by any
applicable law or regulation, and Employer's Liability insurance in amounts not
less than $1,000,000;

                  (ii)     Commercial General Liability insurance on an
occurrence, not claims-made, basis, including coverage for bodily injury,
property damage, personal and advertising injury, products/completed operations,
contractual liability and cross liability, covering all operations by or on
behalf of Buyer arising out of or connected with this Agreement, with the
minimum limits of $1,000,000.00 per occurrence and $2,000,000.00 in the annual
aggregate, and including Seller as an additional insured, but only to the extent
of Buyer's indemnity obligations pursuant to this Agreement;

                  (iii)    Automobile Liability insurance covering all Buyer's
owned, hired and non-owned vehicles used in connection with this Agreement,
providing coverage of $1,000,000.00 combined single limit; and

                  (iv)     Umbrella and/or Excess Liability insurance on an
occurrence, not claims-made, basis, with minimum limits of $5,000,000.00 per
occurrence excess of Buyer's Employer's Liability, Commercial General Liability
and Automobile Liability policies, and with coverage terms at least as broad as
the underlying insurance

Buyer's insurance shall be primary to and noncontributory with any and all other
insurance maintained by or otherwise afforded to Seller. Except where prohibited
by law, Buyer's insurers shall waive all rights of recovery or subrogation
against Seller, but only to the extent of liabilities falling within Buyer's
indemnity obligations under this Agreement. Buyer shall deliver to Seller
certificates of insurance evidencing the coverages outlined above at the time
this Agreement is executed or within a reasonable time thereafter and within a
reasonable time after such coverage is renewed or replaced. All such
certificates shall provide that the insurer will endeavor to provide Seller with
30 days prior written notice in the event of cancellation or non-renewal of
coverage. The provisions of this Section 13.b shall survive the Closing or the
earlier termination of this Agreement.

                  c.       [Intentionally Deleted]

                  d.       Tenant Estoppels. No estoppels are required to be
obtained or delivered by Seller in connection with the transaction contemplated
by this Agreement.

         14.      USE OF PROCEEDS TO CLEAR TITLE. Any unpaid taxes, assessments,
water charges and sewer rents, together with the interest and penalties thereon,
which are due and payable on or before the Closing Date, and any other liens and
encumbrances which Seller is obligated to pay and discharge, together with the
cost of recording and filing any instruments necessary to discharge such liens
and encumbrances of record, may be paid out of the proceeds of the monies

                                       14
<PAGE>

payable on the Closing Date provided satisfactory arrangements are made with the
Title Company to ensure obtaining and recording of discharges with respect to
the same.

         15.      SURVIVAL. The terms, covenants and indemnities contained in
this Agreement required to be operative after delivery of the Deed shall survive
delivery of the Deed without limitation as to time, unless a time limitation is
expressly provided, and shall not be deemed to have been merged in the Deed.

         16.      DAMAGE TO PROPERTY. If the Property or any part thereof (i) is
damaged by casualty or (ii) is taken by exercise of the power of eminent domain
prior to the Closing Date, and in the case of either such casualty or taking the
damage to the Property exceeds One Million Dollars ($1,000,000), as reasonably
determined by Seller, Buyer may terminate this Agreement by notice given to
Seller within ten (10) business days of the date Seller gives notice to Buyer of
such casualty or taking. If Buyer does so terminate this Agreement, Seller shall
promptly return the Deposit to Buyer. If Buyer does not so terminate this
Agreement or such damage does not exceed One Million Dollars ($1,000,000) the
parties shall proceed to Closing without any reduction in the Purchase Price
except as specifically provided below. At the Closing, Seller shall assign to
Buyer all insurance proceeds arising from the casualty, together with a credit
against the Purchase Price equal to the deductible amount under the applicable
insurance policy, or pay over or assign to Buyer all awards recovered or
recoverable on account of such taking. As an inducement to Buyer to agree to the
provisions of this Section 16, Seller represents to Buyer that Seller maintains
property insurance for the Property through a program of self insurance in an
amount equal to the full replacement cost of the Improvements, and Seller agrees
to continue coverage in such amount in effect through the Closing Date.

         17.      BROKERAGE COMMISSION. Seller and Buyer each warrant to the
other party that its sole contact with the other party or the Property regarding
this transaction has been directly with the other party. Nevertheless, Seller
has communicated with The Staubach Company ("STAUBACH") and Buyer has
communicated with Tri Properties ("TP") and Commercial Carolina Corporation
("CCC") in connection with the transaction contemplated by this Agreement.
Seller has agreed to pay a commission to Staubach in connection with the
transaction contemplated by this Agreement in the amount of one hundred thousand
dollars ($100,000.00). As an accommodation, Seller has agreed to pay a
commission directly to each of TP and CCC in connection with the transaction
contemplated by this Agreement in the amount of one quarter of one percent
(.25%) of the Purchase Price (collectively, the "Cisco Share"). Neither
Staubach, CCC nor TP shall be entitled to any other commission, brokerage fee,
or other compensation from Seller in connection with this transaction. Any
additional compensation which may be due to TP and CCC shall be payable from
Buyer only. The foregoing commissions shall be earned, due and payable only upon
consummation of Closing (including recordation of the Deed and receipt of
Seller's funds) and not otherwise. In the event Closing (including recordation
of the Deed and receipt of Seller's funds) does not occur, for whatever reason,
whether by default of Buyer or Seller, or otherwise, Staubach, TP and CCC hereby
waive any right to any fee or commission and any claim or right of claim to any
fee or commission, including, without limitation, a claim of frustration of
commission. Seller and Buyer further warrant to each other that no other broker
or finder can properly claim a right to a commission or finder's fee based upon
contacts between the claimant and the warranting party with respect to the other
party or the Property. Seller and Buyer shall indemnify, defend, protect and
hold the

                                       15
<PAGE>

other party harmless from and against any loss, cost or expense, including, but
not limited to, reasonable attorneys' fees and court costs, resulting from any
claim for a fee or commission by any broker or finder in connection with the
Property and this Agreement resulting from the indemnifying party's actions or a
breach of any of the foregoing provisions. Without limiting the foregoing, Buyer
specifically agrees to indemnify Cisco for any amounts that may be payable to TP
or CCC over and above the Cisco Share and for any loss, cost or expense,
including, but not limited to, reasonable attorneys' fees and court costs,
resulting from CCC's or TP's failure to sign the signature block of this
Agreement. The foregoing indemnities shall survive the Closing.

         18.      SUCCESSORS AND ASSIGNS. The terms, covenants and conditions
herein contained shall be binding upon and inure to the benefit of the
successors and assigns of the parties hereto. Buyer may not assign its rights
under this Agreement without first obtaining Seller's written approval, which
approval may be given or withheld in Seller's sole and absolute discretion. No
assignment shall release or otherwise relieve Buyer from any obligations
hereunder.

         19.      ENTIRE AGREEMENT. This Agreement contains all of the
covenants, conditions and agreements between the parties and shall supersede all
prior correspondence, agreements and understandings, both verbal and written.
The parties intend that this Agreement constitute the complete and exclusive
statement of its terms and that no extrinsic evidence may be introduced in any
proceeding involving this Agreement.

         20.      ATTORNEYS' FEES. In the event of any litigation regarding the
rights and obligations under this Agreement or in the Escrow Agreement, the
prevailing party shall be entitled to reasonable attorneys' fees and court
costs. Each party shall bear its own attorneys' fees in connection with the
preparation of this Agreement and the consummation of the transactions
contemplated hereunder.

         21.      NOTICES. Any notice, demand, request, consent, approval,
disapproval or certificate ("NOTICE") required or desired to be given under this
Agreement shall be in writing and given by certified mail, return receipt
requested, by personal delivery or by Federal Express or a similar nationwide
over-night delivery service providing a receipt for delivery. Notices may not be
given by facsimile. The date of giving any Notice shall be deemed to be the date
upon which delivery is actually made by one of the methods described in this
Section 12.7 (or attempted if said delivery is refused or rejected). If a Notice
is received on a Saturday, Sunday or legal holiday, it shall be deemed received
on the next business day. All notices, demands, requests, consents, approvals,
disapprovals, or certificates shall be addressed as follows:

                  If to Buyer:       Network Appliance, Inc.
                                     495 East Java Drive
                                     Sunnyvale, California 94089
                                     Attn: Mr. Thomas Bryant

                  with a copy to:    Cox, Castle & Nicholson LLP
                                     555 Montgomery Street
                                     Suite 1500
                                     San Francisco, California 94111
                                     Attn: Doug Van Gessel, Esq.

                                       16
<PAGE>

                  If to Seller:      Cisco Systems, Inc.
                                     170 West Tasman Drive
                                     San Jose, California 95134-1706
                                     Attn: Director of Americas Real Estate

                  with a copy to:    Piper Rudnick LLP
                                     1200 Nineteenth Street, N.W.
                                     Washington, D.C. 20036
                                     Attn: Jeffrey R. Keitelman, Esq.

Either party may change its address by giving reasonable advance written Notice
of its new address in accordance with the methods described in this Section 21.

         22.      EXHIBITS AND DEFINED TERMS. All exhibits attached hereto are
incorporated herein by reference thereto. All of the terms and definitions set
forth in the Defined Terms section are incorporated in this Agreement by
reference thereto.

         23.      TIME. Time is of the essence of every provision herein
contained. When the last day for the performance of any act permitted or
required hereunder falls on any day which is not a business day in the City of
Raleigh, North Carolina, such act may be performed on the next business day in
said city. When an act must be performed or a notice given by the end of a
specified day, such act must be performed or such notice given by 5:00 p.m. in
the City of Raleigh, North Carolina.

         24.      CONFIDENTIALITY. Buyer and its representatives shall hold in
strictest confidence all data and information obtained with respect to Seller or
its business, whether obtained before or after the execution and delivery of
this Agreement, and shall not disclose the same to others; provided, however,
that it is understood and agreed that Buyer may disclose such data and
information to the employees, consultants, accountants and attorneys of Buyer
provided that such persons agree in writing to treat such data and information
confidentially. In the event this Agreement is terminated or Buyer fails to
perform hereunder, Buyer shall promptly return to Seller any statements,
documents, schedules, exhibits or other written information obtained from Seller
in connection with this Agreement or the transaction contemplated herein. It is
understood and agreed that, with respect to any provision of this Agreement
which refers to the termination of this Agreement and the return of the Deposit
to Buyer, such Deposit shall not be returned to Buyer unless and until Buyer has
fulfilled its obligation to return to Seller the materials described in the
preceding sentence. In the event of a breach or threatened breach by Buyer or
its agents or representatives of this Section 24, Seller shall be entitled to an
injunction restraining Buyer or its agents or representatives from disclosing,
in whole or in part, such confidential information. Nothing herein shall be
construed as prohibiting Seller from pursuing any other available remedy at law
or in equity for such breach or threatened breach. The provisions of this
Section 24 shall survive Closing or any early termination of this Agreement.

         25.      APPLICABLE LAW. This Agreement shall be governed by the laws
of the State of North Carolina.

                                       17
<PAGE>

         26.      NO ORAL MODIFICATION OR WAIVER. This Agreement may not be
changed or amended orally, but only by an agreement in writing. No waiver shall
be effective hereunder unless given in writing, and waiver shall not be inferred
from any conduct of either party.

         27.      NO RECORDING. Buyer agrees that it shall not record or file
this Agreement or any summary of the provisions thereof. Any such recording or
filing shall automatically render this Agreement null and void.

         28.      COUNTERPARTS; ELECTRONIC COPY. This Agreement may be executed
in any number of counterparts, each of which shall be deemed an original, but
all of which together shall constitute one and the same instrument. This
Agreement is legally effective, valid, and enforceable despite the fact that it
or signatures on it may be in electronic form or that it may have been created,
transmitted, stored, or otherwise handled or formed, in whole or in part, by
electronic means.

         29.      CAPTIONS. The captions of this Agreement are for convenience
and reference only and in no way define, describe, extend or limit the scope,
meaning or intent of this Agreement.

         30.      SEVERABILITY. The invalidation or unenforceability in any
particular circumstance of any of the provisions of this Agreement shall in no
way affect any of the other provisions hereof which shall remain in full force
and effect.

         31.      NO JOINT VENTURE. This Agreement shall not be construed as in
any way establishing a partnership, joint venture, express or implied agency, or
employer-employee relationship between Buyer and Seller.

         32.      NO THIRD PARTY BENEFICIARIES. This Agreement is for the sole
benefit of the parties hereto, their respective successors and permitted
assigns, and no other person or entity shall be entitled to rely upon or receive
any benefit from this Agreement or any term hereof.

         33.      NO PERSONAL LIABILITY. No general or limited partner of
Seller, no officer, director, or stockholder or member of any corporation or
limited liability company which is a partner at any tier in Seller, no disclosed
or undisclosed principal of Seller, and no person or entity in any way
affiliated with Seller shall have any personal liability with respect to this
Agreement, any instrument delivered by Seller at Closing, or the transaction
contemplated hereby, nor shall the property of any such person or entity be
subject to attachment, levy, execution or other judicial process. No general or
limited partner of Buyer, no officer, director, or stockholder or member of any
corporation or limited liability company which is a partner at any tier in
Buyer, no disclosed or undisclosed principal of Buyer, and no person or entity
in any way affiliated with Buyer shall have any personal liability with respect
to this Agreement, any instrument delivered by Buyer at Closing, or the
transaction contemplated hereby, nor shall the property of any such person or
entity be subject to attachment, levy, execution or other judicial process.

         34.      EXECUTION. The submission of this Agreement for examination
does not constitute an offer by or to either party. This Agreement shall be
effective and binding only after

                                       18
<PAGE>

due execution and delivery by the parties hereto; provided, however, that this
Agreement shall not be binding in any way upon Seller unless and until:

         (a) Seller shall execute and deliver the same to Buyer; and

         (b) Research Triangle Foundation of North Carolina has given its
written approval thereof.

If Seller notifies Buyer in writing at or prior to Closing that this Agreement
has not been approved by Research Triangle Foundation, then this Agreement shall
be deemed terminated.

                         [SIGNATURES ON FOLLOWING PAGE]

                                       19
<PAGE>

         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first above written.

BUYER                                     SELLER

NETWORK APPLIANCE, INC.,                  CISCO SYSTEMS, INC.,
A DELAWARE CORPORATION                    A CALIFORNIA CORPORATION

By: /s/ STEVEN J. GOMO                    By:__________________________________
   ----------------------------------
Its: Senior Vice President of Finance     Its:_________________________________
     and Chief Financial Officer
    ---------------------------------     Date:________________________________
Date: July 27, 2004
     --------------------------------     ESCROW AGENT

                                          CHICAGO TITLE
                                          INSURANCE COMPANY

                                          By:__________________________________

                                          Its:_________________________________

                                          Date:________________________________

                                       20
<PAGE>

Staubach, CCC and TP join herein to agree to the provisions of Section 17 above.

THE STAUBACH COMPANY                      COMMERCIAL CAROLINA CORPORATION

By:__________________________________     By:__________________________________

Its:_________________________________     Its:_________________________________

Date:________________________________     Date:________________________________

                                          TRI PROPERTIES

                                          By:__________________________________

                                          Its:_________________________________

                                          Date:________________________________

                                       21
<PAGE>

                                    EXHIBIT A

                                LAND DESCRIPTION

That certain parcel of land situate in Research Triangle Park, Cedar Fork
Township, Wake County, North Carolina, described more particularly as follows:

BEING all of Site 12 containing 37.8259 acres (including Surface Cover
Maintenance Easement containing 0.7774 acres) as shown on that map entitled
'Exempt Subdivision Map of Site 12' prepared by Barbara H. Mulkey Engineering,
Inc., on May 30, 2000 as recorded in Book of Maps 2000, Page 1300, Wake County,
North Carolina Registry.

TOGETHER WITH a permanent, non-exclusive open space easement over all of that
property identified as 'Natural Area Preserve' containing 26.0741 acres as shown
on the aforesaid map, said easement being more particularly described in
instrument recorded in Book 8706, Page 1763, aforesaid records.

                                       22
<PAGE>

                                    EXHIBIT B

                                  FORM OF DEED

       Excise Tax - $47,938.00               Recording Time, Book and Page
--------------------------------------------------------------------------------

Tax Lot No._________________________    Parcel Identifier No.______________
Verified by_________________________ County on _____________________, 20________
by______________________________________________________________________________

Mail after recording to: Edward P. Tewkesbury

                         1604 Battleground Ave., Suite B, Greensboro, NC  27408

This instrument was prepared by: Edward P. Tewkesbury

Brief description for the index:________________________________________________

                      NORTH CAROLINA SPECIAL WARRANTY DEED

THIS DEED is made on________________, 2004, by and between

<TABLE>
<CAPTION>
            GRANTOR                                        GRANTEE
<S>                                              <C>
Cisco Systems, Inc.                              Network Appliance, Inc.
170 West Tasman Drive                            495 East Java Drive
San Jose, California 95134-1706                  Sunnyvale, California 94089
</TABLE>

         The designations Grantor and Grantee include the parties, their heirs,
successors, and assigns, and include the singular, plural, masculine, feminine
or neuter as required by context.

         WITNESSETH, that Grantor, for valuable consideration paid by Grantee,
the receipt of which is hereby acknowledged, has and by these presents does
grant, bargain, sell and convey to Grantee in fee simple, the parcel of land
situated in Cedar Fork Township, Wake County, North Carolina, and more
particularly described on Exhibit A attached and incorporated into this Deed
(the "Property").

         TO HAVE AND TO HOLD the Property, and all privileges and appurtenances
thereto belonging, to Grantee in fee simple.

                                       23
<PAGE>

         And Grantor covenants with Grantee that Grantor has done nothing to
impair such title as Grantor received and that Grantor will warrant and defend
the title against the lawful claims of all persons claiming by, under or through
Grantor, except for matters of record, to which title to the Property is
subject.

         IN WITNESS WHEREOF, Grantor has caused this instrument to be signed in
its corporate name by its duly authorized officer by authority of its board of
directors, the date first written above.

                                 CISCO SYSTEMS, INC., a California corporation

                                 By:_________________________________
                                 Name:_______________________________
                                 Title:______________________________

County of ________________
State of _________________

         I, a Notary Public of ______________ County, _______________, certify
that ____________________ personally came before me this day and acknowledged
that (s)he is the ____________________ of Cisco Systems, Inc., a California
corporation, and that (s)he, as _________, being authorized to do so, executed
the foregoing on behalf of the corporation. Witness my hand and official seal or
stamp on_________________, 2004.

My Commission Expires:_______________  ____________________________Notary Public

[Official seal or stamp]

                                       24
<PAGE>

                                    EXHIBIT C

                           FORM OF GENERAL INSTRUMENT

                         GENERAL INSTRUMENT OF TRANSFER
                   7301-13, 7301-14 and 7301-15 Kit Creek Road
                  Research Triangle Park, North Carolina 27709

         This General Instrument of Transfer ("INSTRUMENT") is made as of the
____ day of __________, 2004, by and between CISCO SYSTEMS, INC., a California
corporation with a principal place of business at 170 West Tasman Drive, San
Jose, California 95134-1706 ("Assignor"), and NETWORK APPLIANCE, INC., a
Delaware corporation having a place of business at 495 East Java Drive,
Sunnyvale, California 94089 ("Assignee").

In connection with the conveyance of certain property owned by Assignor known
and numbered as Research Triangle Park Site 12 (Buildings 13, 14 and 15),
7301-13,7301-14, and 7301-15 Kit Creek Road, Research Triangle Park, North
Carolina 27709, more particularly described on Schedule I attached hereto and
made a part hereof (the "Premises"), and in consideration of Ten Dollars
($10.00) and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, Assignor hereby sells, assigns, transfers,
grants and conveys unto Assignee, all of Assignor's right, title and interest in
and to the following to the extent the same apply to the Premises and are
transferable or assignable (collectively, the "Interests"):

1.       All appurtenances and privileges belonging to the Premises and the
         rights, benefits and privileges of owning and operating the same;

2.       All rights, entitlements and/or approvals to develop the Premises which
         have been or may hereafter be granted by governmental bodies having
         jurisdiction or authority over the Premises, and any certificates
         evidencing compliance therewith;

3.       All variances, conditional use permits, special permits, exceptions,
         rezonings, general plan amendments, parcel maps, development
         agreements, permits, Licenses, applications, any other governmental
         approvals and consents (if any) relating to the Premises;

4.       All guarantees, warranties, and indemnities giving rise to any rights
         or benefits of Assignor in respect of the Premises and all claims
         and/or causes of action against contractors with respect to the
         Premises or any part thereof or any buildings, structures or
         improvements thereon, provided, however, that Assignor reserves, in
         common with Assignee, such rights in respect of the matters assigned in
         this paragraph 4 as may be necessary or convenient for Assignor's
         discharge of liabilities, or defense of claims, relating to the
         Premises which are not assigned to or assumed by Buyer in connection
         with the acquisition of the Premises;

5.       All bonds, construction contracts, architect's contracts, licenses,
         applications, permits, plans, drawings, specifications, "as-built"
         plans and/or surveys, site plans, maps, and any other plans relating to
         the construction of the improvements on the Premises;

                                       25
<PAGE>

6.       All engineering, soils, ground water and environmental reports and
         other technical descriptions and environmental reports concerning the
         Premises; and

7.       All tangible personal property owned by Assignor and located on or
         attached and appurtenant to, or forming part of the Premises ("PERSONAL
         PROPERTY").

         Assignee hereby accepts the foregoing transfer from Assignor of the
above-assigned Interests.

         This Instrument shall be binding upon and inure to the benefit of the
parties hereto and their respective heirs, successors and assigns and shall be
governed by the laws of the State of North Carolina.

         This Instrument may be executed in multiple counterparts, each of which
shall be deemed an original, but all of which together shall constitute one and
the same instrument.

         IN WITNESS WHEREOF, the parties have executed this Assignment under
seal as of the date first written above.

ASSIGNEE                                  ASSIGNOR

NETWORK APPLIANCE, INC.,                  CISCO SYSTEMS, INC.,
A DELAWARE CORPORATION                    A CALIFORNIA CORPORATION

By:__________________________________     By:__________________________________

Its:_________________________________     Its:_________________________________

Date:______________________               Date:______________________

                                       26
<PAGE>

                                   Schedule I

                                  The Premises

That certain parcel of land situate in Research Triangle Park, Cedar Fork
Township, Wake County, North Carolina, described more particularly as follows:

BEING all of Site 12 containing 37.8259 acres (including Surface Cover
Maintenance Easement containing 0.7774 acres) as shown on that map entitled
'Exempt Subdivision Map of Site 12' prepared by Barbara H. Mulkey Engineering,
Inc., on May 30, 2000 as recorded in Book of Maps 2000, Page 1300, Wake County,
North Carolina Registry.

TOGETHER WITH a permanent, non-exclusive open space easement over all of that
property identified as 'Natural Area Preserve' containing 26.0741 acres as shown
on the aforesaid map, said easement being more particularly described in
instrument recorded in Book 8706, Page 1763, aforesaid records.

                                       27
<PAGE>

                                    EXHIBIT D

                                   [RESERVED]

                                       28
<PAGE>

                                    EXHIBIT E

                         FORM OF NON-FOREIGN CERTIFICATE

                             NON-FOREIGN CERTIFICATE

                   7301-13, 7301-14 and 7301-15 Kit Creek Road
                  Research Triangle Park, North Carolina 27709

         Section 1445 of the Internal Revenue Code provides that a purchaser of
a United States Property interest must withhold tax if the seller is a foreign
person. To inform Network Appliance, Inc., a Delaware corporation ("Buyer") that
withholding of tax is not required upon the disposition of a United States
Property interest by Cisco Systems, Inc. ("Seller"), the undersigned hereby
certifies the following on behalf of Seller:

1.       Seller is not a foreign person (as that term is defined in the Internal
         Revenue Code and Income Tax Regulations);

2.       Seller's United States employer identification number is 77-0059951;
         and

3.       Seller's office address is        170 West Tasman Drive
                                           San Jose, California 95134-1706

Seller understands that this certification may be disclosed to the Internal
Revenue Service by Buyer and that any false statement contained herein could be
punished by fine, imprisonment, or both.

Under penalties 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 Seller.

CISCO SYSTEMS, INC., A CALIFORNIA CORPORATION

By:__________________________________

Its:_________________________________

Date:______________________

                                       29
<PAGE>

                                    EXHIBIT F

                         ENVIRONMENTAL REPORTS SCHEDULE

<TABLE>
<CAPTION>
                   TITLE                                  AUTHOR                      DATE
-------------------------------------------------------------------------------------------------
<S>                                              <C>                           <C>
Phase 1 Environmental Site Assessment            Engineering Consulting        March 24, 2000
                                                 Services, LTD.

-------------------------------------------------------------------------------------------------
Abandonded Underground Natural Gas Pipeline      Arcadis Geraghty & Miller     July 12, 2000
Investigation, Research Triangle Park,           of North Carolina, Inc.
North Carolina

-------------------------------------------------------------------------------------------------
Phase 1 Environmental Site Assessment            Engineering Consulting        July 20, 2000
                                                 Services, LTD.

-------------------------------------------------------------------------------------------------
Report of Subsurface Exploration and             Engineering Consulting        July 25, 2000
Geotechnical Engineering Analysis                Services, LTD.

-------------------------------------------------------------------------------------------------
RTP Site 12 Site Plan Approval Letter            Elizabeth H.                  August 17, 2000
                                                 Rooks-Research Triangle
                                                 Foundation of North
                                                 Carolina

-------------------------------------------------------------------------------------------------
Architectural Elevation Approval for             Elizabeth H.                  September 27, 2000
Buildings 13-15                                  Rooks-Research Triangle
                                                 Foundation of North
                                                 Carolina

-------------------------------------------------------------------------------------------------
Report of Additional Subsurface                  Engineering Consulting        October 4, 2000
Explorations for the Parking Lots on Cisco       Services, LTD.
Systems Site 12 Located in Research
Triangle Park, North Carolina ECS, Ltd.
Project Number 8590

-------------------------------------------------------------------------------------------------
Right of Way Encroachment Agreement Primary      State of North Carolina       November 1, 2000
and Secondary Highways                           Wake County

-------------------------------------------------------------------------------------------------
Three Party Right of Way Encroachment            State of North Carolina       November 1, 2000
Agreement on Primary and Seconday System         Wake County

-------------------------------------------------------------------------------------------------
</TABLE>

                                       30
<PAGE>

<TABLE>
<CAPTION>
                   TITLE                                  AUTHOR                      DATE
-------------------------------------------------------------------------------------------------
<S>                                              <C>                           <C>
Application for Driveway Entrance onto           Brandon H. Jones-State of     December 8, 2000
Louis Stevens Road Permit Number                 North Carolina Department
D51-40-00-259                                    of Transportation

-------------------------------------------------------------------------------------------------
Application for Driveway Entrance onto SR        Brandon H. Jones-State of     December 8, 2000
1639 Permit Number D51-40-00-252                 North Carolina Department
                                                 of Transportation

-------------------------------------------------------------------------------------------------
Encroachment Contract 12" x 8" tapping           State of North Carolina       December 29, 2000
sleeve, 8" gate valve and 20" steel carrier      Department of
pipe Louis Stevens Drive E51-40-00-0886          Transportation

-------------------------------------------------------------------------------------------------
Encroachment Contract 12" x 8" tapping           State of North Carolina       December 29, 2000
sleeve and  8" gate SR 1639 E51-40-00-0887       Department of
                                                 Transportation

-------------------------------------------------------------------------------------------------
Certificate of Substantial Completion Site       O'Brien/Atkins Associates     February 21, 2001
12

-------------------------------------------------------------------------------------------------
Encroachment Contract Tree Clearing and          State of North Carolina       August 6, 2001
Grading SR 1639 E51-4--01-0739                   Department of
                                                 Transportation

-------------------------------------------------------------------------------------------------
Cisco Systems, Inc. Building 13 Warranties,      Bovis Lend Lease, Inc.        November 6, 2001
General Information, Operations &
Maintenance Manuals, Test Reports

-------------------------------------------------------------------------------------------------
Certificate of Substantial Completion            O'Brien/Atkins Associates     November 16, 2001
Building 14

-------------------------------------------------------------------------------------------------
Cisco Systems, Inc. Building 14 Warranties,      Bovis Lend Lease, Inc.        December 14, 2001
General Information, Operations &
Maintenance Manuals, Test Reports

-------------------------------------------------------------------------------------------------
Cisco Systems, Inc. Building 15 Warranties,      Bovis Lend Lease, Inc.        February 13, 2002
General Information, Operations &
Maintenance Manuals, Test Reports

-------------------------------------------------------------------------------------------------
Cisco Systems, Inc. Site 12 Operations &         Bovis Lend Lease, Inc.        February 15, 2002
Maintenance Manuals, General Information &
Warranties

-------------------------------------------------------------------------------------------------
</TABLE>

                                       31
<PAGE>

<TABLE>
<CAPTION>
                   TITLE                                  AUTHOR                      DATE
-------------------------------------------------------------------------------------------------
<S>                                              <C>                           <C>
Total Acceptance of Maintenance-Public           Jimmy Little-Development      May 9, 2002
Water and Sanitary Sewer lines                   Inspector, Town of Cary

-------------------------------------------------------------------------------------------------
Air Permit No. 9439M00                           Laura S. Butler-North         June, 04 2004
                                                 Carolina Department of
                                                 Environmental and Natural
                                                 Resources Division of Air
                                                 Quality

-------------------------------------------------------------------------------------------------
</TABLE>

                                       32<PAGE>
                                                                   Exhibit 10.53

                              MAY 2004 AMENDMENT TO
                           LOAN AND SECURITY AGREEMENT

         THIS MAY 2004 AMENDMENT TO LOAN AND SECURITY AGREEMENT (the
"Amendment") is made and entered into as of the 1st day of May, 2004, by and
among FLEET CAPITAL CORPORATION, a Rhode Island corporation, successor in
interest by merger to FLEET CAPITAL CORPORATION, a Connecticut corporation,
formerly known as SHAWMUT CAPITAL CORPORATION, successor in interest by
assignment to BARCLAYS BUSINESS CREDIT, INC. ("Lender"), LOWRANCE ELECTRONICS,
INC., a Delaware corporation ("Lowrance"), LEI EXTRAS, INC., a Delaware
corporation ("LEI"), LOWRANCE CONTRACTS, INC., a Delaware corporation ("Lowrance
Contracts"), and SEA ELECTRONICS, INC., an Oklahoma corporation ("Sea
Electronics") (Lowrance, LEI, Lowrance Contracts and Sea Electronics are herein
individually and collectively called "Borrower").

                                    RECITALS

(A) Borrower, Lowrance Australia Pty Limited ("Lowrance Australia") and Lender
have entered into that certain Loan and Security Agreement, dated December 15,
1993, as such Loan and Security Agreement has been amended, including, without
limitation, as amended by (i) that certain First Amendment to Loan and Security
Agreement, dated October 16, 1995, by and among Lender, Borrower and Lowrance
Australia, (ii) that certain Second Amendment to Loan and Security Agreement,
dated November 1, 1996 by and among Lender and Borrower, (iii) that certain
Third Amendment to Loan and Security Agreement, dated December 30, 1996, by and
among Lender and Borrower, (iv) that certain Fourth Amendment to Loan and
Security Agreement, entered into effective as of April 1, 1997, by and among
Lender and Borrower, (v) that certain Fifth Amendment to Loan and Security
Agreement, entered into effective as of August 25, 1997, by and between Lender
and Borrower, (vi) that certain Sixth Amendment to Loan and Security Agreement
and Certain Other Loan Documents, entered into effective as of August 28, 1997,
by and between Lender and Borrower, (vii) that certain Seventh Amendment to Loan
and Security Agreement, entered into effective as of November 1, 1997, by and
between Lender and Borrower, (viii) that certain Eighth Amendment to Loan and
Security Agreement, made and entered into as of December 9, 1997, by and between
Lender and Borrower, (ix) that certain Ninth Amendment to Loan and Security
Agreement made and entered into as of September 14, 1998, by and between Lender
and Borrower, (x) that certain Tenth Amendment to Loan and Security Agreement
and Amendment to Certain Other Loan Documents, executed in November of 1998, by
Lender and Borrower; (xi) that certain Eleventh Amendment to Loan and Security
Agreement and Amendment to Certain Other Loan Documents, executed March 14,
2000, by Lender and Borrower, (xii) that certain Twelfth Amendment to Loan and
Security Agreement and Amendment to Certain Other Loan Documents, executed
October 15, 2000, by Lender and Borrower, (xiii) that certain Thirteenth
Amendment to Loan and Security Agreement and Amendment to Certain Other Loan
Documents and Limited Waiver entered into on October 19, 2001, by Lender and
Borrower, (xiv) that certain letter agreement, dated December 14, 2001, by and
between Lender and Borrower, (xv) that certain Fourteenth

                                       1
<PAGE>

Amendment to Loan and Security Agreement and Amendment to Certain Other Loan
Documents, entered into on March 11, 2002, by Lender and Borrower, (xvi) that
certain November 2002 Amendment to Loan and Security Agreement and Amendment to
Certain Other Loan Documents, entered into on November 26, 2002, by Lender and
Borrower, (xvii) that certain waiver and amendment letter agreement, dated May
29, 2003, entered into by Lender and Borrower, and (xviii) that certain
amendment letter agreement, dated September 10, 2003, executed by Lender and
Borrower (as amended, the "Loan Agreement").

         (B) Borrower has requested (i) that Lender consent to the $940,000
Distribution recently made by Lowrance to its shareholders in the form of a cash
dividend, such Distribution having been made in connection with the fiscal year
of Lowrance which will end July 31, 2004 (the "$940,000 Distribution"), and (ii)
that Lender waive the covenant embodied in Section 9.2(J) of the Loan Agreement
to the extent such covenant would be deemed violated solely due to the making of
the $940,000 Distribution by Lowrance.

         (C) Borrower has requested (i) that Lender consent to the secondary
public offering of the capital stock of Lowrance which is anticipated to close
during the summer of 2004 (the "Lowrance Secondary Offering"), (ii) that Lender
waive any covenants embodied in the Loan Agreement to the extent such covenants
would be deemed violated solely due to the consummation of the Lowrance
Secondary Offering, and (iii) that effective upon the consummation of the
Lowrance Secondary Offering, Borrower and Lender delete Section 11.1(K) Change
of Ownership of the Loan Agreement.

         (D) Pursuant to the terms and conditions of this Amendment, (i) Lender
is willing to consent to the making of the $940,000 Distribution by Lowrance and
to waive the covenant embodied in Section 9.2(J) of the Loan Agreement to the
extent such covenant would be deemed violated solely due to the making of the
$940,000 Distribution by Lowrance, (ii) Lender is willing to consent to the
consummation of the Lowrance Secondary Offering and to waive any covenants
embodied in the Loan Agreement to the extent they would be deemed violated
solely due to the consummation of the Lowrance Secondary Offering, and effective
upon consummation of the Lowrance Secondary Offering, to agree with Borrower to
the deletion of Section 11.1(K) Change of Ownership of the Loan Agreement, and
(iii) Borrower and Lender are willing to further amend the Loan Agreement, all
as hereinafter set forth.

         NOW, THEREFORE, in consideration of the premises herein contained and
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties, intending to be legally bound, agree as
follows:

                                   ARTICLE I
                                   DEFINITIONS

         1.01 Capitalized terms used in this Amendment are defined in the Loan
Agreement, as amended hereby, unless otherwise stated.

                                       2
<PAGE>

                                   ARTICLE II
                                   AMENDMENTS

         2.01 AMENDMENT TO SECTION 3.1(A) OF THE LOAN AGREEMENT. Effective as of
May 1, 2004, Section 3.1(A) of the Loan Agreement is hereby deleted in its
entirety and the following substituted in lieu thereof:

         "Outstanding principal on the Loans shall bear interest, calculated
         daily, at the following rates per annum (individually called, as
         applicable, an 'Applicable Annual Rate'): (i) (a) each Term Loan which
         is a LIBOR Loan shall bear interest at a rate per annum equal to 2.50%
         above the LIBOR Base Rate and (b) each Term Loan which is a Base Rate
         Loan shall bear interest at a rate per annum equal to 0.25% above the
         Base Rate, and (ii) (a) each Revolving Credit Loan which is a LIBOR
         Loan shall bear interest at a rate per annum equal to 2.50% above the
         LIBOR Base Rate and (b) each Revolving Credit Loan which is a Base Rate
         Loan shall bear interest at a fluctuating rate per annum equal to 0.25%
         above the Base Rate. Interest rate on each Base Rate Loan shall be
         increased or decreased, as the case may be, by an amount equal to any
         increase or decrease in the Base Rate, with such adjustments to be
         effective as of the opening of business on the day that any such change
         in the Base Rate becomes effective. The Base Rate in effect on the date
         hereof shall be the Base Rate effective as of the opening of business
         on the date hereof, but if this Agreement is executed on a day that is
         not a Business Day, the Base Rate on the date hereof shall be the Base
         Rate effective as of the opening of business on the last Business Day
         immediately preceding the date hereof. The interest rate on each Loan
         shall be calculated daily, based on the actual days elapsed over a 360
         day year. Further, for the purpose of computing interest, all items of
         payment received by Lender shall be applied by Lender (subject to final
         payment of all drafts and other items received in form other than
         immediately available funds) against the Obligations on the first
         Business Day after receipt. The determination of when a payment is
         received by Lender will be made in accordance with Section 3.6."

         2.02 DELETION OF SECTION 11.1(K) OF THE LOAN AGREEMENT. Effective as of
the date of consummation of the Lowrance Secondary Offering, Section 11.1(K) of
the Loan Agreement is hereby deleted in its entirety; provided, however, that in
addition to any of the other terms and conditions of this Amendment, a condition
precedent to the deletion of Section 11.1(K) of the Loan Agreement is
consummation of the Lowrance Secondary Offering and that until the date, if
ever, of the consummation of the Lowrance Secondary Offering, Section 11.1(K) of
the Loan Agreement shall remain in full force and effect.

         2.03 AMENDMENT FEE. In consideration for the agreements of Lender
contained herein but subject to Section 3.1(D) of the Loan Agreement, Borrower
agrees to pay Lender a fee of $5,000. Such fee shall be due and payable and
shall be fully earned as of the date of execution of this Amendment.

                                       3
<PAGE>

                                  ARTICLE III
                              CONDITIONS PRECEDENT

         3.01 CONDITIONS PRECEDENT. The effectiveness of this Amendment is
subject to the satisfaction of the following conditions precedent, unless
specifically waived in writing by Lender:

                  (a) Lender shall have received each of the following, each in
         form and substance satisfactory to Lender: (i) this Amendment, duly
         executed by Borrower; and (ii) such additional documents, instruments
         and information as Lender or its legal counsel may request;

                  (b) The representations and warranties contained herein, in
         the Loan Agreement and in the other Loan Documents, as each is amended
         hereby, shall be true and correct as of the date hereof, as if made on
         the date hereof;

                  (c) After giving effect to this Amendment, no Default or Event
         of Default shall have occurred and be continuing, unless such Default
         or Event of Default has been specifically waived in writing by Lender;

                  (d) All corporate proceedings taken in connection with the
         transactions contemplated by this Amendment and all documents,
         instruments and other legal matters incident thereto shall be
         satisfactory to Lender and its legal counsel; and

                  (e) Lender shall have received, in immediately available
         funds, payment of the fee described in Section 2.03 of this Amendment.

                                   ARTICLE IV
                     CONSENT TO $940,000 DISTRIBUTION AND TO
                   CONSUMMATION OF LOWRANCE SECONDARY OFFERING

         4.01 CONSENT TO $940,000 DISTRIBUTION. Subject to the satisfaction of
the conditions precedent specified in Article III of this Amendment and the
other terms, conditions and provisions of this Amendment, Lender (a) consents to
the $940,000 Distribution, and (b) waives the covenant embodied in Section
9.2(J) of the Loan Agreement to the extent that such covenant would be violated
solely due to the consummation of the $940,000 Distribution.

         4.02 CONSENT TO LOWRANCE SECONDARY OFFERING. Subject to the
satisfaction of the conditions precedent specified in Article III of this
Amendment, and the other terms, conditions and provisions of this Amendment,
Lender (a) consents to the consummation of the Lowrance Secondary Offering and
(b) waives the covenants embodied in the Loan Agreement to the extent that such
covenants would be violated solely due to the consummation of the Lowrance
Secondary Offering.

         4.03 LIMITED NATURE OF CONSENTS. The making of the $940,000
Distribution and consummation of the Lowrance Secondary Offering (collectively,
the "Transactions") in

                                       4
<PAGE>

accordance with the terms, conditions and provisions of this Amendment shall not
constitute a Default or an Event of Default. The foregoing consents described
above in Section 4.01 and Section 4.02 are strictly limited to the Transactions
as described and limited by this Amendment, and, except as otherwise
specifically provided for in this Amendment, nothing contained in this Amendment
shall be construed as a waiver by Lender of any covenant or provision of the
Loan Agreement, the other Loan Documents, this Amendment, or of any other
contract or instrument between Borrower and Lender, and the failure of Lender at
any time or times hereafter to require strict performance by Borrower of any
provision thereof shall not waive, affect or diminish any right of Lender to
thereafter demand strict compliance therewith. Lender hereby reserves all rights
granted under the Loan Agreement, the other Loan Documents, this Amendment and
any other contract or instrument between Borrower and Lender.

                                   ARTICLE V
                  RATIFICATIONS, REPRESENTATIONS AND WARRANTIES

         5.01 RATIFICATIONS. The terms and provisions set forth in this
Amendment shall modify and supersede all inconsistent terms and provisions set
forth in the Loan Agreement and the other Loan Documents, and, except as
expressly modified and superseded by this Amendment, the terms and provisions of
the Loan Agreement and the other Loan Documents are ratified and confirmed and
shall continue in full force and effect. Borrower and Lender agree that the Loan
Agreement and the other Loan Documents, as amended hereby, shall continue to be
legal, valid, binding and enforceable in accordance with their respective terms.

         5.02 REPRESENTATIONS AND WARRANTIES. Borrower hereby represents and
warrants to Lender that (a) the execution, delivery and performance of this
Amendment and any and all other Loan Documents executed and/or delivered in
connection herewith have been authorized by all requisite corporate action on
the part of Borrower and will not violate the Certificate of Incorporation or
Bylaws of Borrower; (b) the representations and warranties contained in the Loan
Agreement, as amended hereby, and any other Loan Documents are true and correct
on and as of the date hereof and on and as of the date of execution hereof as
though made on and as of each such date; (c) no Default or Event of Default
under the Loan Agreement, as amended hereby, has occurred and is continuing; (d)
Borrower is in full compliance with all covenants and agreements contained in
the Loan Agreement and the other Loan Documents, as amended hereby; (e) the
Borrower's Certificate of Incorporation and Bylaws are in full force and effect
on and as of the date hereof without modification or amendment in any respect
since November 1, 1996; (f) as of the date hereof, (i) Borrower is in existence
and in corporate and tax good standing in the State of its organization, (ii)
the Borrower is qualified to do business as a foreign corporation and is in
corporate and tax good standing in each jurisdiction where Borrower is doing
business and is required to be so qualified, (iii) Borrower does not owe
franchise taxes or other taxes required to maintain its corporate existence and
no franchise tax reports are due, and (iv) no proceedings are pending for
forfeiture of the Borrower's charter or for its dissolution either voluntarily
or involuntarily; and (g) the officer of Borrower executing this Amendment has
been duly elected and is, at present, qualified and acting in the office
indicated below such officer's name and is duly authorized to execute this
Amendment on behalf of Borrower.

                                       5
<PAGE>

                                   ARTICLE VI
                            MISCELLANEOUS PROVISIONS

         6.01 SURVIVAL OF REPRESENTATIONS AND WARRANTIES. All representations
and warranties made in the Loan Agreement or any other Loan Document, including,
without limitation, any document furnished in connection with this Amendment,
shall survive the execution and delivery of this Amendment and the other Loan
Documents, and no investigation by Lender or any closing shall affect the
representations and warranties or the right of Lender to rely upon them.

         6.02 REFERENCE TO LOAN AGREEMENT. Each of the Loan Agreement and the
other Loan Documents, and any and all other agreements, documents or instruments
now or hereafter executed and delivered pursuant to the terms hereof or pursuant
to the terms of the Loan Agreement, as amended hereby, are hereby amended so
that any reference in the Loan Agreement and such other Loan Documents to the
Loan Agreement shall mean a reference to the Loan Agreement, as amended hereby.

         6.03 EXPENSES OF LENDER. As provided in the Loan Agreement, Borrower
agrees to pay on demand all costs and expenses incurred by Lender in connection
with the preparation, negotiation and execution of this Amendment and the other
Loan Documents executed pursuant hereto and any and all amendments,
modifications, and supplements thereto, including, without limitation, the costs
and fees of Lender's legal counsel, and all costs and expenses incurred by
Lender in connection with the enforcement or preservation of any rights under
the Loan Agreement, as amended hereby, or any other Loan Documents, including,
without, limitation, the costs and fees of Lender's legal counsel.

         6.04 SEVERABILITY. Any provision of this Amendment held by a court of
competent jurisdiction to be invalid or unenforceable shall not impair or
invalidate the remainder of this Amendment and the effect thereof shall be
confined to the provision so held to be invalid or unenforceable.

         6.05 SUCCESSORS AND ASSIGNS. This Amendment is binding upon and shall
inure to the benefit of Lender and Borrower and their respective successors and
assigns, except that Borrower may not assign or transfer any of its rights or
obligations hereunder without the prior written consent of Lender.

         6.06 COUNTERPARTS. This Amendment may be executed in one or more
counterparts, each of which when so executed shall be deemed to be an original,
but all of which when taken together shall constitute one and the same
instrument.

         6.07 EFFECT OF WAIVER. No consent or waiver, express or implied, by
Lender to or for any breach of or deviation from any covenant or condition by
Borrower shall be deemed a consent to or waiver of any other breach of the same
or any other covenant, condition or duty.

         6.08 HEADINGS. The headings, captions, and arrangements used in this
Amendment are for convenience only and shall not affect the interpretation of
this Amendment.

                                       6
<PAGE>

         6.09 APPLICABLE LAW. THIS AMENDMENT AND ALL OTHER LOAN DOCUMENTS
EXECUTED PURSUANT HERETO SHALL BE DEEMED TO HAVE BEEN MADE AND TO BE PERFORMABLE
IN AND SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF TEXAS.

         6.10 FINAL AGREEMENT. THE LOAN AGREEMENT AND THE OTHER LOAN DOCUMENTS,
EACH AS AMENDED HEREBY, REPRESENT THE ENTIRE EXPRESSION OF THE PARTIES WITH
RESPECT TO THE SUBJECT MATTER HEREOF ON THE DATE THIS AMENDMENT IS EXECUTED. THE
LOAN AGREEMENT AND THE OTHER LOAN DOCUMENTS, AS AMENDED HEREBY, MAY NOT BE
CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS
OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES. NO
MODIFICATION, RESCISSION, WAIVER, RELEASE OR AMENDMENT OF ANY PROVISION OF THIS
AMENDMENT SHALL BE MADE, EXCEPT BY A WRITTEN AGREEMENT SIGNED BY BORROWER AND
LENDER.

         6.11 RELEASE. BORROWER HEREBY ACKNOWLEDGES THAT IT HAS NO DEFENSE,
COUNTERCLAIM, OFFSET, CROSS-COMPLAINT, CLAIM OR DEMAND OF ANY KIND OR NATURE
WHATSOEVER THAT CAN BE ASSERTED TO REDUCE OR ELIMINATE ALL OR ANY PART OF ITS
LIABILITY TO REPAY THE "OBLIGATIONS" OR TO SEEK AFFIRMATIVE RELIEF OR DAMAGES OF
ANY KIND OR NATURE FROM LENDER. BORROWER HEREBY VOLUNTARILY AND KNOWINGLY
RELEASES AND FOREVER DISCHARGES LENDER, ITS PREDECESSORS, OFFICERS, DIRECTORS,
AGENTS, EMPLOYEES, SUCCESSORS AND ASSIGNS, FROM ALL POSSIBLE CLAIMS, DEMANDS,
ACTIONS, CAUSES OF ACTION, DAMAGES, COSTS, EXPENSES, AND LIABILITIES WHATSOEVER,
KNOWN OR UNKNOWN, ANTICIPATED OR UNANTICIPATED, SUSPECTED OR UNSUSPECTED, FIXED,
CONTINGENT, OR CONDITIONAL, AT LAW OR IN EQUITY, ORIGINATING IN WHOLE OR IN PART
ON OR BEFORE THE DATE THIS AMENDMENT IS EXECUTED, WHICH THE BORROWER MAY NOW OR
HEREAFTER HAVE AGAINST LENDER, ITS PREDECESSORS, OFFICERS, DIRECTORS, AGENTS,
EMPLOYEES, SUCCESSORS AND ASSIGNS, IF ANY, AND IRRESPECTIVE OF WHETHER ANY SUCH
CLAIMS ARISE OUT OF CONTRACT, TORT, VIOLATION OF LAW OR REGULATIONS, OR
OTHERWISE, AND ARISING FROM ANY "LOANS", INCLUDING, WITHOUT LIMITATION, ANY
CONTRACTING FOR, CHARGING, TAKING, RESERVING, COLLECTING OR RECEIVING INTEREST
IN EXCESS OF THE HIGHEST LAWFUL RATE APPLICABLE, THE EXERCISE OF ANY RIGHTS AND
REMEDIES UNDER THE LOAN AGREEMENT OR OTHER LOAN DOCUMENTS, AND THE NEGOTIATION
OF AND EXECUTION OF THIS AMENDMENT.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                       7
<PAGE>

         IN WITNESS WHEREOF, this Amendment has been executed and is effective
as of the date first above-written.

                                    "LENDER"

                                    FLEET CAPITAL CORPORATION

                                    By:
                                       -----------------------------------------
                                    Name:
                                         ---------------------------------------
                                    Title:
                                          --------------------------------------

                                    "BORROWER"

                                    LOWRANCE ELECTRONICS, INC.

                                    By:
                                       -----------------------------------------
                                    Name:
                                         ---------------------------------------
                                    Title:
                                          --------------------------------------

                                    LEI EXTRAS, INC.

                                    By:
                                       -----------------------------------------
                                    Name:
                                         ---------------------------------------
                                    Title:
                                          --------------------------------------

                                    LOWRANCE CONTRACTS, INC.

                                    By:
                                       -----------------------------------------
                                    Name:
                                         ---------------------------------------
                                    Title:
                                          --------------------------------------

                                    SEA ELECTRONICS, INC.

                                    By:
                                       -----------------------------------------
                                    Name:
                                         ---------------------------------------
                                    Title:
                                          --------------------------------------

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00071-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00071-of-00352.parquet"}]]