Document:

Exhibit 10.17

 

AGREEMENT OF PURCHASE AND SALE

 

THIS AGREEMENT OF
PURCHASE AND SALE (this "Agreement") is made as of the 17th day of April, 2013 (the "Effective
Date") by and between ELI LILLY AND COMPANY, an Indiana corporation (“Seller”), and AR CAPITAL,
LLC, a Delaware limited liability company (“Purchaser”).

 

RECITALS

 

Seller desires to sell
to Purchaser, and Purchaser desires to purchase from Seller, the Property (as defined below), subject to and in accordance with
the terms, conditions and other provisions of this Agreement.

 

NOW, THEREFORE, in
consideration of the mutual agreements set forth herein and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties agree as follows:

 

SECTION 1DEFINITIONS

 

The following capitalized
terms shall have the meanings set forth in this Section 1 for all purposes under this Agreement:

 

Annual Net Rent.
The Basic Rent (as defined in the RR Sublease) payable during calendar year 2013.

 

Closing. The
consummation of the transactions described herein as more fully described in Section 4 below.

 

Closing Date.
The date one (1) business day after the Due Diligence Expiration Date, subject to extension as provided in Sections 3.2(d), 3.3(a),
3.3(b), 12.1 and 12.2.

 

Confidentiality
Agreement. That certain Confidentiality Agreement dated as of April 9, 2013 between Seller and Purchaser.

 

Due Diligence Expiration
Date. 11:59pm Eastern Time on the date that is twenty-one (21) days after the Effective Date.

 

Due Diligence Period.
The period commencing on the Effective Date and continuing until the Due Diligence Expiration Date.

 

Earnest Money.
Defined in Section 2.2 below.

 

Escrow Company.
Chicago Title Insurance Company.

 

Henry Street Property.
The parcel of land legally described in the Quitclaim Deed attached hereto as Exhibit O (the "Henry Street
Quitclaim Deed").

 

Improvements.
The buildings and other improvements situated on the Land.

 

Land. The parcels
of land legally described in Exhibit A.

 

    	 

    	 

    

 

 

Leases. The
leases and other occupancy agreements listed in Exhibit B attached hereto.

 

Permits. All
assignable permits or licenses related to the Real Property or the Personal Property, if any.

 

Personal Property.
All items of décor, furniture, equipment and other personal property owned by Seller and located on the Real Property as
of the Effective Date.

 

Property. The
Real Property and Personal Property, and all of Seller’s right, title and interest in, to and under the Leases, the Permits
and the Warranties.

 

Purchase Price.
$79,141,815. The Purchase Price is based on a capitalization rate of 7.0104% (the “Cap Rate”) and an Annual
Net Rent of $5,548,144.56. If the Annual Net Rent on the Closing Date is not $5,548,144.56, the Purchase Price shall be adjusted
accordingly.

 

Real Property.
The Land and the Improvements.

 

RR Lease. That
certain Lease Agreement, dated March 1, 2011, by and between Seller and Rolls-Royce Corporation, as amended by that certain First
Amendment to Lease, dated March 11, 2013.

 

RR Leases. The
RR Lease and the RR Sublease.

 

RR Sublease.
That certain Sublease Agreement, dated March 1, 2011, by and between Seller and Rolls-Royce Corporation, as amended by that certain
Letter Agreement, dated March 1, 2011, as further amended by that certain First Amendment to Sublease, dated March 11, 2013.

 

Tenant. The
tenant under the RR Leases (currently, Rolls-Royce Corporation).

 

Termination Surviving
Obligations. Purchaser’s obligations under Section 3.2, including Purchaser's obligations under the Confidentiality Agreement
incorporated into this Agreement pursuant to said section, and Purchaser’s and Seller’s obligations under Sections
10 and 15.3 hereof.

 

Title Company.
Chicago Title Insurance Company.

 

Warranties.
All assignable warranties, guaranties, indemnities, causes of action and similar rights which Seller may have against any manufacturer,
seller, engineer, contractor or builder in respect of any of the Improvements or the Personal Property, if any.

 

SECTION
2AGREEMENT TO SELL AND PURCHASE; PURCHASE PRICE 

 

2.1       
Agreement to Sell and Purchase. Seller agrees to sell to Purchaser, and Purchaser agrees to purchase from Seller, the Property,
subject to and in accordance with the terms, conditions and provisions hereof.

 

2.2       
Payment of the Purchase Price. The Purchase Price shall be payable in the following manner:

 

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(a)         
Earnest Money. Purchaser shall, within three (3) business days of execution and delivery of this Agreement by Seller and
Purchaser, (i) deposit with the Escrow Company, as escrow agent, the sum of $5,000,000 as earnest money (said amount, together
with all interest accruing thereon, being herein referred to as the “Earnest Money”), which shall be in the
form of a wire transfer of immediately available funds, and (ii) deliver a fully-executed copy of this Agreement to the Escrow
Company. If Purchaser has not terminated this Agreement pursuant to Section 3.2(d) below on or before the Due Diligence Expiration
Date, all of the Earnest Money shall become fully non-refundable and payable to Seller, subject to the provisions of this Section
2.2(a), except as otherwise expressly provided herein. The Earnest Money shall be held and disbursed by the Title Company pursuant
to the escrow agreement attached hereto as Exhibit C, which the parties hereby agree to execute and deliver to the
Escrow Company promptly upon execution of this Agreement. Purchaser additionally agrees to provide any commercially reasonable
information required by Escrow Company in connection with such escrow deposit. The Earnest Money shall be invested as provided
in said escrow agreement, with all interest accruing thereon being deemed part of the Earnest Money for all purposes hereunder.
If the sale hereunder is consummated in accordance with the terms hereof, the Earnest Money shall be paid to Seller and applied
to the Purchase Price at the Closing. In all other instances, the Earnest Money shall be paid to Seller and/or Purchaser as provided
in other provisions of this Agreement. Notwithstanding anything to the contrary in this Agreement, in any case in which the Earnest
Money is provided herein to be returned in its entirety to Purchaser, then One Hundred Dollars ($100) thereof shall be paid to
Seller and deducted from the amount due Purchaser, such amount belonging to Seller in any and all events and shall in effect constitute
option money, making this Agreement binding and enforceable even if any conditions or provisions herein are entirely within the
discretion or control of Purchaser for any time period.

 

(b)         
Balance of Purchase Price. Purchaser shall pay to Seller the balance of the Purchase Price, plus or minus net proration
credits (as such credits may be determined in accordance with Section 5, other applicable provisions of this Agreement or otherwise
agreed to between Buyer and Seller), at Closing by wire transfer of immediately available funds.

 

SECTION 3SELLER'S
DELIVERIES; CONDITIONS PRECEDENT

 

3.1       
Diligence Information. Seller has provided to Purchaser and Purchaser acknowledges receipt of copies of all of the materials
listed on Schedule 3.1 attached hereto (the "Due Diligence Materials"). All documentation, results
of inspections, studies, tests and investigations and other information received or obtained by any agents or representatives of
Purchaser pertaining to the Property, Seller, Tenant or the proposed sale transaction, including the Due Diligence Materials and
any other information made available to Purchaser in the on-line data room established by Broker, shall be hereinafter collectively
referred to as the "Diligence Information". The Confidentiality Agreement is hereby incorporated into this Agreement
by this reference thereto as if fully set forth herein in its entirety. Except as otherwise expressly set forth in this Agreement,
Seller makes no representations or warranties, either expressed or implied, and shall have no liability with respect to the accuracy
or completeness of any Diligence Information and Purchaser shall make its own independent inquiry regarding the economic feasibility,
physical condition and environmental state of the Property during the Due Diligence Period. Purchaser agrees to deliver to Seller
complete copies of any revised Survey, environmental reports, property condition report and zoning report pertaining to the Property
prepared by any third party for Purchaser promptly upon Seller's request.

 

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3.2       
Inspections and Access.

 

(a)         
Seller hereby grants a license to Purchaser, its employees, consultants, contractors and other agents to enter the Property to
conduct examinations, inspections and investigations the Property and all books, records, drawings, and other documentation relating
thereto located at the Property (collectively, the "Inspections"), subject to (1) the rights of all tenants of
the Property, (2) the terms, conditions and limitations set forth in this Agreement, and (3) the terms and conditions of the Confidentiality
Agreement. Without limiting the preceding sentence, Purchaser acknowledges that (A) Tenant has the right to at least five (5) business
days' prior written notice of entry upon the Property, (B) Tenant may require any persons desiring access to the Property to submit
to such reasonable inspection and security procedures as Tenant regularly employs in its ordinary business operations at the Property,
and (C) certain areas of the Property may be subject to access restrictions imposed by the government of the United States and
Purchaser agrees to abide by any such restrictions identified in this sentence. Purchaser shall have a right to enter upon the
Property pursuant to the license granted hereby for the purpose of conducting the Inspections and for no other purpose, and provided
that in each such instance: (x) Purchaser notifies Seller of such Inspections not less than six (6) business days prior to
such entry or such Inspections are otherwise scheduled with and approved by Seller and Tenant; and (y) Purchaser is in
full compliance with all of the terms of this Agreement. At Seller's election, a representative of Seller may be present during
any entry by Purchaser or its representatives upon the Property for conducting said Inspections. Purchaser shall take all necessary
actions to ensure that neither it nor any of its representatives shall interfere with any tenants or occupants or the ongoing operations
occurring at the Property during the course of performing any such Inspections. Purchaser shall not cause or permit any mechanics'
liens, materialmens' liens or other liens to be filed against the Property as a result of the Inspections. Purchaser shall have
the right to conduct, at its sole cost and expense, any inspections, studies or tests that Purchaser deems appropriate in determining
the condition of the Property; provided, however, Purchaser shall not be permitted to perform any Phase II environmental assessments
or any tests that require the physical alteration of the Property (including any borings or samplings), without the prior written
consent of Seller in each instance.

 

(b)         
Purchaser shall indemnify, defend and hold Seller, its tenants and their respective officers, directors, employees, brokers and
other agents and representatives (collectively, the "Indemnified Parties") harmless from and against any and all
claims, losses, damages, costs and expense (including, without limitation, reasonable attorneys fees' and court costs) suffered
or incurred by any of the Indemnified Parties arising out of or in connection with the activities of Purchaser (or Purchaser's
employees, consultants, contractors or other agents) on or about the Property, including mechanics' liens, damage to the Property
and injury to persons or property. Without limiting the foregoing, in the event that the Property is damaged, disturbed or altered
in any way as a result of such activities, Purchaser shall promptly restore the Property to its condition existing prior to the
commencement of such activities. Furthermore, Purchaser agrees to maintain, and to cause all of its contractors conducting any
Inspections to maintain, and have in effect comprehensive general liability insurance with a waiver of subrogation in favor of
Seller and Seller's designees, and limits of not less than One Million Dollars ($1,000,000), combined single limit, for personal
injury, including bodily injury and death, and property damage. Such insurance shall name Seller and Seller’s designees as
additional insured parties and shall be with companies, with deductibles and otherwise in form reasonably acceptable to Seller.
Purchaser shall deliver to Seller, prior to any entry upon the Property, certificates evidencing that the insurance required hereunder
is in full force and effect.

 

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(c)         
Purchaser shall not contact or communicate with Tenant without at least two (2) business days advance notice to Seller in each
instance. At Seller's election, a representative of Seller shall be present during any discussions or interviews between Purchaser
or its representatives and Tenant or its representatives. Notwithstanding any consent to any contact with Tenant or the presence
of Seller or its representatives at any discussions or interviews with Tenant, Purchaser shall not engage in any oral or written
communications with Tenant regarding the possibility of renegotiating any current terms of the RR Leases or any proposed amendments
to or renewals or extensions of the RR Leases. Purchaser shall not agree to any confidentiality or other agreement with Tenant
that prohibits Purchaser from disclosing to Seller any communications or information exchanged between Purchaser and Tenant prior
to Closing.

 

(d)         
If, during the Due Diligence Period, Purchaser determines that the Property is unacceptable to Purchaser in its sole and absolute
discretion, Purchaser may, as its sole and exclusive right and remedy, terminate this Agreement by giving written notice of termination
to Seller on or before the Due Diligence Expiration Date in accordance with the provisions of Section 11 below, which, if Purchaser's
reason for termination is one or more material enviornmental defects, such notice shall describe such environmental defects in
reasonable detail. If Purchaser does not give such notice of termination on or before the Due Diligence Expiration Date, Purchaser
shall be deemed to have waived its right to terminate this Agreement pursuant to this Section 3.2(d) and this Agreement shall continue
in full force and effect. In the event of such termination, $100,000 (the “Termination Amount”) of the Earnest Money
shall be paid to Seller, the remainder of the Earnest Money shall be returned to Purchaser and neither party shall have any further
obligations to the other party hereunder, except for the Termination Surviving Obligations, provided that if Purchaser's termination
is due solely to one or more material environmental defects to which Purchaser has reasonably objected in a notice to Seller prior
to the Due Diligence Expiration Date and Seller does not agree to cure such defect(s) by written notice given by the later of (i)
the Due Diligence Expiration Date or (ii) five (5) business days after receipt of Purchaser's notice of such defect(s) (the Closing
Date being automatically extended as necessary to allow for such period), then all of the Earnest Money shall be returned to Purchaser.
If Seller agrees to cure such defect(s), then Purchaser's termination shall be automatically nullified and the Closing Date shall
be extended as reasonably necessary for Seller to effectuate such cure, but in no event shall the extension exceed 30 days.

 

3.3       
Title and Survey.

 

(a)Seller has delivered
to purchaser (i) a commitment for an owner's policy of title insurance with respect to the Land and the Henry Street Property issued
by the Title Company under Order No. 456750 Revision No. 10, dated January 22, 2013 (the "Title Commitment"),
and (ii) copies of all exception documents referenced in the Title Commitment (the "Exception Documents"), and
(ii) an ALTA/ACSM Land Title Survey of the Real Property certified to Seller, Purchaser and the Title Company, prepared by The
Schneider Corporation under Project No. 629.111, dated November 8, 2012 and last revised April 16, 2013 (the "Survey").
Purchaser shall have until the date fourteen (14) days following the Effective Date (the "Title Review Date")
for examination of the Title Commitment and the Survey and giving notice to Seller of any matters disclosed by the Title Commitment
or the Survey to which Purchaser objects (the "Title Objection Notice”). Purchaser shall be deemed to have accepted
all exceptions to the Title Commitment and the form and substance of the Survey, excepting only matters objected to in the Title
Objection Notice. If Purchaser delivers a Title Objection Notice to Seller on or before the Title Review Date, Seller shall have
the right, but not the

 

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obligation (except
with respect to existing mortgages on the Real Property entered into by Seller), on or before the date five (5) days after receipt
of such Title Objection Notice (the “Seller Cure Date”), to cure any matters set forth in the Title Objection
Notice (by removal from or by endorsement to the title policy to be issued to Purchaser at Closing insuring over such objection
or by other method reasonably acceptable to Purchaser) or to agree in writing to cure same prior to Closing. If any material title
or survey matter reasonably objected to by Purchaser in the Title Objection Notice is not so cured by Seller (or agreed to be cured
by Seller) or waived by Purchaser on or before the Seller Cure Date, then Purchaser may, as its sole and exclusive remedy, terminate
this Agreement by written notice delivered to Seller on or before the date two (2) days after the Seller Cure Date, in which event
the Earnest Money (without deduction of the Termination Amount) shall be returned to Purchaser and neither party shall have any
further obligations to the other party hereunder, except for the Termination Surviving Obligations. If Purchaser does not give
such notice of termination on or before the date two (2) days after the Seller Cure Date, this Agreement shall continue in full
force and effect and all objections to the Title Commitment and Survey made by Purchaser and not cured or agreed to be cured by
Seller shall be deemed waived by Purchaser and Purchaser shall accept title to the Property subject thereto. If Seller elects to
cure any such defect, the Closing Date shall be extended as reasonably necessary for Seller to effectuate such cure, but in no
event shall the extension exceed 30 days. If Seller is unable to effectuate a cure of any defect Seller agreed to cure within such
period, then Purchaser may, as its sole and exclusive remedy, terminate this Agreement by written notice delivered to Seller on
or before the date two (2) days after the Seller Cure Date, in which event the Earnest Money shall be returned to Purchaser and
neither party shall have any further obligations to the other party hereunder, except for the Termination Surviving Obligations.
Purchaser acknowledges that the Real Property is subject to the following matter disclosed by the Title Commitment and the Survey:

 

6' tall wooden privacy fence
running east-west along the south edge of the sidewalk on the south side of the Lilly Fitness Center, and within this fence there
is a shed that lies 18.4' north of the deed line with the subject real estate.

 

Notwithstanding anything to the contrary
herein, so long as (a) the Title Company agrees to affirmatively insure that the Real Property complies with all zoning requirements
notwithstanding such matter or the potential loss of title to that portion of the Land consisting of an approximately 23' wide
strip of land within the fence described in such matter (said strip of land lying immediately north of a residential parcel now
or formerly owned by John A. Herbst and depicted on the Survey as "Area of Concern #1"), and (b) either the Title Company
does not charge an additional premium over the Title Company's standard 3.1 zoning endorsement fee for such affirmative coverage
or, if the Title Company does require such additional premium, Seller agrees in writing to pay such additional premium, then neither
such matter nor the use, occupation or possible adverse possession of said strip of land by the owner or occupants of such residential
parcel shall be a material title or survey matter for purposes of this Agreement.

 

(b)Purchaser may, within five (5)
days after learning of same, or the Closing Date, whichever occurs first, notify Seller in writing of any objections to any title
exceptions added to the Title Commitment (which do not relate to or arise out of actions by the Purchaser) after the Title Review
Date (such being referred to as “Gap Objections”). With respect to any Gap Objections, Seller shall have the
same option to cure or agree to cure such objections as set forth in Section 3.3(a) and Purchaser shall have the same option to
accept title subject to such matters or, for any material defect reasonably objected to by Purchaser, to terminate this Agreement
as set forth in Section 3.3(a), above.

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3.4       
Tenant Estoppels. Within two (2) business days of the Effective Date, Seller shall request from Tenant a tenant estoppel
certificate with respect to the RR Leases in the form of Exhibit D. Seller shall exercise commercially reasonable efforts
(which, for the avoidance of doubt, shall not include litigation, lease termination or the payment of any money to Tenant) to obtain
and deliver to Purchaser a tenant estoppel certificate executed by Tenant in the form of Exhibit D attached hereto
containing only immaterial exceptions, qualifications or modifications. For purposes of the foregoing, an exception, qualification
or modification shall be deemed to be “immaterial” if (such exception, qualification or modification does not (A) dispute
the enforceability of the Lease in question, (B) disclose a material monetary or substantial non-monetary default under the Lease
or (C) assert a term or condition not contained in the copy of the Lease made available to Purchase or otherwise disclosed to Purchaser,
which term or condition materially adversely affects the economic provisions of the Lease. If such an estoppel certificate from
Tenant is not delivered to Purchaser at least five (5) days prior to the Closing Date, Purchaser may, as its sole and exclusive
right and remedy, terminate this Agreement by delivering to Seller written notice of such termination prior to the Closing Date.
In the event of such termination, the Earnest Money (without deduction of the Termination Amount) shall be returned to Purchaser
and neither party shall have any further obligations to the other party, except for the Termination Surviving Obligations. Within
two (2) business days of the Effective Date, Seller shall request an estoppel letter from each of the two rooftop cell tenants
in the form of Exhibit L attached hereto, provided that the delivery of such estoppels to Purchaser shall not be
a condition to Purchaser's obligations hereunder and the failure of any such tenant to execute or deliver such an estoppel letter
shall not permit Purchaser to terminate this Agreement.

 

SECTION 4CLOSING

 

4.1       
Time and Place. the Closing shall be held through the mail by delivery of the closing documents to the Escrow Agent on or
prior to the Closing Date, or such other place or manner as the parties hereto may mutually agree. The parties agree to complete
all arrangements for Closing prior to the Closing Date so that all requirements for Closing, with the exception of the delivery
of the Purchase Price, are in place by the end of the day prior to the Closing Date and only the funding need be completed on the
Closing Date.

 

4.2       
Deliveries. At Closing Seller and Purchaser shall execute and deliver the following items:

 

(a)         
Seller shall execute and deliver to Purchaser the following:

 

		(i)	the Henry Street Quitclaim Deed;

 

		(ii)	a deed to the Real Property in the form of Exhibit E attached hereto, conveying to
Purchaser all of Seller’s right, title and interest in and to the Real Property (the "Deed");

 

		(iii)	a bill of sale in the form of Exhibit F attached hereto, conveying to Purchaser all
of Seller’s right, title and interest in and to the Personal Property;

 

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		(iv)	a non-foreign transferor certification pursuant to Section 1445 of the Internal Revenue Code;

 

		(v)	a vendor's certificate in form acceptable to the Title Company to permit the Title Company to delete
the 'standard' exceptions (other than standard exceptions requiring a current ALTA survey to delete) from the owner's policy of
title insurance to be issued to Purchaser; and

 

		(vi)	evidence of Seller’s authority to consummate the transactions described herein, as required
by the Title Company to issue the owner's policy of title insurance to Purchaser.

 

(b)         
Purchaser shall pay or deliver to Seller:

 

		(i)	the balance of the Purchase Price, by wire transfer, as provided in subsection 2.2(b) hereof;

 

		(ii)	evidence of Purchaser’s authority to consummate the transactions described herein, as required
by the Title Company to issue the owner's policy of title insurance to Purchaser.

 

(c)         
Seller and Purchaser shall jointly execute and deliver the following:

 

		(i)	an assignment and assumption of leases in the form of Exhibit G attached hereto,
whereby Seller assigns to Purchaser and Purchaser assumes all of Seller’s rights, title, interests, duties, obligations and
liabilities under the Leases;

 

		(ii)	an assignment and assumption of permits and warranties in the form of Exhibit H attached
hereto, whereby Seller assigns to Purchaser and Purchaser assumes all of Seller’s assignable rights, title, interests, duties,
obligations and liabilities under and with respect to the Permits and the Warranties;

 

		(iii)	a closing statement describing all prorations and other applicable credits;

 

		(iv)	Indiana Disclosure of Sales Information forms required to be filed with the Henry Street Quitclaim
Deed and the Deed;

 

		(v)	notice to each of the tenants of the Property in the form of Exhibit I attached hereto;

 

		(vi)	a partial assignment and assumption of that certain Parking Agreement, dated March 1, 2011, by
and among the City of Indianapolis Department Metropolitan Development ("DMD"), Seller and Rolls-Royce Corporation
(the "Parking Agreement"), containing an acknowledgement of Purchaser's obligations under the RR Sublease and
the continuing rights of DMD under the

 

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Parking Agreement in the form of
Exhibit J attached hereto (the "Partial Assignment of Parking Agreement");

 

		(vii)	a partial assignment and assumption of that certain Agreement, dated October 18, 2000, by and between
Seller and the Consolidated City of Indianapolis, Marion County, Indiana, Department of Capital Asset Management, as amended by
that certain First Amendment to Agreement, dated October 25, 2001 (the "City Maintenance Agreement"), in the form
of Exhibit K attached hereto (the "Partial Assignment of City Maintenance Agreement");

 

		(viii)	a real estate tax agreement in the form of Exhibit N attached hereto (the "Real
Estate Tax Agreement").

 

4.3       
Closing Instructions to Escrow Company. The Closing shall be facilitated through an escrow established with the Escrow Company,
using closing escrow instructions consistent with this Agreement. Notwithstanding the use of an escrow, the Closing shall be completed
(with the escrow closed out) on the Closing Date, including the concurrent delivery of all required documents and the Purchase
Price.

 

4.4       
Transfer of Capital Repair Fund. At Closing, Seller shall wire to an account of Purchaser the Capital Repair Fund (as defined
in the RR Sublease) in the amount of $885,000, less any amounts withdrawn therefrom in accordance with the terms of the RR Sublease
between the Effective Date and the Closing Date. Seller shall provide reasonably detailed accounting of any amounts withdrawn from
the Capital Repair Fund to the extent that the amount of such wire is less than $885,000.

 

SECTION 5PRORATIONS

 

5.1       
Real Estate Taxes and Assessments. Real estate taxes and special assessments shall not be prorated. Purchaser shall not
receive any credit for such taxes or assessments and shall be responsible (to the extent not paid by the tenants under the Leases)
for all such taxes and assessments due and payable after the Closing Date. The provisions of this Section 5.1 shall survive the
Closing.

 

5.2       
Rent. All rent and other amounts paid by the tenants under the Leases (collectively, "Rent"), for the month
of Closing shall be prorated as of the Closing Date based on the respective number of days of ownership of Seller and Purchaser
for such month (with Purchaser being deemed the owner on the Closing Date); provided, however, that (i) neither Purchaser nor Seller
shall receive credit at Closing for any Rent that is past due (the "Past Due Rent"), and (ii) Seller shall be
entitled to all Basic Rent payable under the RR Sublease for periods prior to July 1, 2013 and shall receive a credit at Closing
in the amount of any such Basic Rent that is not yet due and payable. Following the Closing, if Purchaser or Seller receives any
payment from any tenant for which Past Due Rent is outstanding, such payment shall be distributed in the following order of priority
unless otherwise specifically designated by the tenant paying such Past Due Rent: (a) for the rooftop cell tenants: first, on a
prorated basis to Purchaser and Seller for Rent due and payable by such tenant under its Lease accruing in the month in which the
Closing Date occurs; next, to Purchaser for Rent due and payable by such tenant under its Lease accruing after the month in which
the Closing

 

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Date occurs; and then, after
payment in full of all such amounts then due and payable to Purchaser from such tenant, to Seller to the extent of all Past Due
Rent owed by such tenant, together with interest and late charges, if applicable; and (b) for Tenant: first, to Seller to the extent
of all Past Due Rent owed by Tenant (together with interest and late charges, if applicable) attributable to the period prior to
July 1, 2013 for which Seller did not receive a credit at Closing; and then, to Purchaser. If any Past Due Rent is not paid to
Seller within (60) days after Closing, Seller shall have the right to attempt to effect collection by litigation or otherwise so
long as Seller does not take any action to terminate the tenant's lease or right to possession and so long as such Past Due Rent
collected by Seller is distributed in accordance with this Section 5.2. Purchaser shall cooperate with Seller in its efforts to
collect Past Due Rent but shall not be required to take any action against any tenant to terminate the tenant's lease or right
to possession. The provisions of this Section 5.2 shall survive the Closing.

 

5.3       
Insurance. Seller will maintain, up to the Closing Date, the insurance Seller is required to maintain pursuant to the RR
Sublease. Seller shall cancel all of its insurance policies with respect to the Property as of the Closing Date and shall be responsible
for the payment of any premiums and receive any refunds in connection therewith, provided that any refunds of premiums that Tenant
has paid shall be promptly paid to Tenant upon Seller's receipt. Purchaser shall obtain its own insurance policies effective as
of the Closing Date. The provisions of this Section 5.3 shall survive the Closing.

 

5.4       
Expenses. Except as otherwise expressly provided in this Section 5 (concerning real estate taxes, special assessments, insurance
and Rent), operating expenses of the Property that are not passed through to tenants, if any, shall be payable by Seller and Purchaser
on an accrual basis in accordance with the parties' respective periods of ownership so that Seller pays all expenses accruing prior
to the Closing Date and Purchaser pays all expenses accruing on or after the Closing Date. In the event either party receives a
bill for expenses for which the other party is obligated, such other party shall pay such bill promptly after receipt thereof and
this obligation shall survive the Closing. In the event of any prepaid expenses as of the Closing Date, Purchaser shall reimburse
Seller at Closing for the portion thereof attributable to the period on and after the Closing Date. The provisions of this Section
5.4 shall survive the Closing.

 

SECTION 6SELLER'S
REPRESENTATIONS AND WARRANTIES

 

6.1       
List of Representations and Warranties. Seller hereby represents and warrants to Purchaser the following matters:

 

(a)         
Authority. Seller has the legal power, right and authority to enter into this Agreement and to consummate the transactions
contemplated hereby. All required corporate action has been taken to approve the transactions contemplated by this Agreement and
this Agreement is the valid and binding obligation of Seller.

 

(b)         
Conflicts. Neither the execution and delivery of this Agreement nor the consummation of the transactions herein contemplated
conflict with or result in the material breach of any terms, conditions or provisions of or constitute a default under, any bond,
note, or other evidence of indebtedness or any agreement to which Seller is a party.

 

    	10

    	 

    

 

 

(c)         
Leases. Attached hereto as Exhibit B is a complete and accurate list of the leases and other occupancy agreements
demising any portion of the space in the Real Property other than any subleases or occupancy agreements that may have been entered
into by a tenant. With respect to the Leases other than the RR Leases, to Seller's knowledge, the copies thereof delivered or made
available to Purchaser or its counsel are true, correct and complete copies thereof and such Leases have not been amended except
as disclosed in any Diligence Information. Except as disclosed in any Diligence Information delivered or made available to Purchaser
or its counsel prior to the Effective Date: (i) to Seller’s knowledge, the Leases are in full force and effect, there are
no outstanding defaults thereunder by any tenant under the Leases, and no event has occurred which, with the giving of notice and
the expiration of any applicable cure period, would constitute a default by any tenant under the Leases; and (ii) Seller has not
received any notice of a default under the Leases that has not been cured. All lease commissions with respect to the RR Leases
have been paid in full, other than future contingent commissions not yet due and payable and expressly set forth in the RR Leases.
To Seller's knowledge, all lease commissions with respect to the Leases other than the RR Leases have been paid in full, other
than future contingent commissions not yet due and payable and expressly set forth in such Leases. The balance of the Capital Repair
Fund (as defined in the RR Sublease) is $885,000 as of the Effective Date, and Tenant has not requested any disbursements from
the Capital Repair Fund.

 

(d)         
Violations of Laws. Seller has not received any written notice that the Property is currently in violation of any applicable
building, fire or other safety laws or regulations.

 

(e)         
Litigation. No litigation, including condemnation, eminent domain, or similar proceedings, has been served upon Seller,
or threatened in writing, with respect to the Property that remains outstanding.

 

(f)          
Bankruptcy. Seller is not the subject of any pending proceeding under any federal or state bankruptcy or insolvency laws
or laws for the appointment of a receiver or for the reorganization of debtors.

 

(g)         
Claims. There are no pending claims made by Seller against contractors who constructed or performed repairs to the Improvements,
there are no pending claims made against Seller by contractors who constructed or performed repairs to the Improvements, and there
are no pending claims made by Seller against any insurers for any damage to the Improvements or the Personal Property.

 

(h)         
Environmental Laws. Seller has not received any written notice that the Property is currently in violation of any applicable
environmental laws or regulations relating to Hazardous Materials (as defined in Section 7.3).

 

(i)           
Service Contracts. Except for matters disclosed by this Agreement, Diligence Information delivered or made available to
Purchaser or its counsel on or before the Effective Date or matters of record, Seller has not entered into any service contracts
that will survive Closing.

 

6.2       
Modifications to Representations and Warranties. The representations and warranties of Seller set forth in this Agreement
shall be deemed remade as of Closing, provided that Seller may give Purchaser on or before the Closing Date one or more notices
of any modifications (each a "Statement of Modifications") to such representations and warranties which arise
after the Effective Date. Further, all

 

    	11

    	 

    

representations and warranties
are deemed updated by virtue of the contents and disclosures set forth in any tenant estoppel certificate delivered to Purchaser
in connection with this Agreement. The representations and warranties set forth in Sections 6.1(a) and 6.1(b), as remade as of
Closing, shall survive the Closing without limitation on duration.

 

6.3       
Definition of Knowledge. As used in this Section 6 or other provisions of this Agreement, the term “to Seller's
knowledge” or any other reference to the knowledge of Seller (a) shall mean and apply to the actual knowledge of Stephen
L. Van Soelen, Director Strategic Real Estate and Facilities Planning of Seller (the "Seller Knowledge Individual")
and not to any other persons or entities, (b) shall mean the actual (and not implied or constructive) knowledge of such individual,
without any duty on such individual to conduct any investigation or inquiry of any kind, and (c) shall not apply to or be construed
to apply to information or material which may be in the possession of Seller generally or incidentally, but which is not actually
known to the Seller Knowledge Individual. Similarly, any reference to any written notice, claim, litigation, filing or other correspondence
or transmittal to Seller set forth herein (including Sections 6.1(c), 6.1(d), 6.1(e), 6.1(g) and 6.1(h)) shall be limited to refer
to only those actually received by or known to the Seller Knowledge Individual in the limited manner provided in clauses (a) -
(c) above. Seller represents that the Seller Knowledge Individual is the employee of Seller who is primarily responsible for transactions
involving the Property and an appropriate employee of Seller to be the Seller Knowledge Individual. Under no circumstances shall
the Seller Knowledge Individual have any personal obligations or liabilities under this Agreement or otherwise. This Section 6.3
shall survive the Closing.

 

6.4       
Limitations Concerning Purchaser’s Knowledge and Third Party Protection. Notwithstanding anything to the contrary
contained in this Agreement or in any of the documents or instruments delivered or required to be delivered by Seller hereunder,
all of the representations, warranties and certifications (collectively, the "Representations") which are made
by Seller and set forth herein or in any of the documents or instruments delivered or required to be delivered by Seller hereunder,
shall be subject to the following conditions and limitations: (a) after the Closing, there shall be no liability on the part of
Seller for any breach of a Representation arising from (i) any matter or circumstance of which Purchaser had knowledge at Closing,
(ii) any matter or circumstance described in any Statement of Modifications, (iii) any matter or circumstance that is disclosed
in any of the Diligence Information, or (iv) any matter or circumstance that is disclosed in any Inspection reports obtained by
Purchaser; (b) in the event that prior to the time of Closing, during the course of Purchaser's inspections, studies, tests and
investigations conducted pursuant to Section 3.2 hereof, or through other sources (including any Statement of Modifications or
tenant estoppel certificate), Purchaser gains knowledge of a fact or circumstance which, by its nature, indicates that a Representation
was or has become untrue or inaccurate, and such fact or circumstance was not intentionally withheld from Purchaser by Seller with
the intent to defraud Purchaser, then Purchaser shall not have the right to bring any lawsuit or other legal action against Seller,
nor pursue any other remedies against Seller, as a result of the breach of the Representation caused thereby, but Purchaser's sole
and exclusive right and remedy shall be to terminate this Agreement, in which event the Earnest Money (including the Termination
Amount) shall be returned to Purchaser and neither party shall have any further obligations to the other party hereunder, except
for the Termination Surviving Obligations; provided, however, that such right of termination

 

    	12

    	 

    

shall not be available for breaches
of Representations that have no material impact on the value of the Property, where ‘material impact’ shall mean that
the value of any such breach (individually or in the aggregate) would cause the Cap Rate to be reduced by one one-hundredth of
a percent (.01%); and (c) to the extent that Purchaser receives or obtains estoppel certificates, insurance policies, guarantees,
warranties or other items from third parties (collectively, “Third-Party Protections”) which provide a claim,
cause of action, defense or other protection for Purchaser with respect to liability for which Purchaser may have a right of recourse
against Seller hereunder, Purchaser agrees to pursue its rights with respect to such Third-Party Protections prior to pursuing
any rights against Seller hereunder, and to pursue its rights against Seller only to the extent that such Third-Party Protections
do not protect Purchaser against such liability. Without limiting Section 16.6 or any other provision hereof, the parties hereto
expressly acknowledge and agree that none of Seller's representations, warranties or covenants herein may be relied on by the Title
Company or Escrow Company, whether by subrogation or otherwise. This Section 6.4 shall survive the Closing.

 

6.5       
Other Limitations. Notwithstanding anything to the contrary contained in this Agreement or in any of the documents or instruments
delivered or required to be delivered by Seller hereunder: (a) Seller shall have no liability whatsoever to Purchaser for a breach
of any representation, warranty, covenant, agreement or other requirement or provision hereof or thereof, unless the valid claims
for all such breaches against Seller collectively aggregate more than the Liability Floor, in which event the full amount of such
valid claims shall be actionable up to, but not in excess of, the Liability Cap in the aggregate for all liability; (b) Seller
shall not have any liability whatsoever to Purchaser for a breach of any representation, warranty, covenant agreement or other
requirement or provision hereof or of any other agreement or document delivered in connection herewith, unless written notice containing
a description of the specific nature of such breach shall have been given by Purchaser to Seller prior to the date that is six
(6) months after the Closing Date and an action shall have been commenced by Purchaser against Seller within eight (8) months after
the Closing Date; and (c) in no event shall Seller be liable for any incidental, consequential or punitive damages or for any damages
in excess of the Liability Cap. For purposes of the foregoing: (A) “Liability Floor” shall mean Fifty Thousand
Dollars ($50,000), and (B) “Liability Cap” shall mean Four Million Dollars ($4,000,000). This Section 6.5 shall
survive the Closing.

 

SECTION 7PURCHASE
AS-IS

 

7.1AS IS.
EXCEPT FOR THE REPRESENTATIONS AND WARRANTIES OF SELLER EXPRESSLY SET FORTH IN THIS AGREEMENT OR EXPRESSLY SET FORTH IN ANY DOCUMENTS
DELIVERED BY SELLER TO PURCHASER AT CLOSING, PURCHASER WARRANTS AND ACKNOWLEDGES TO AND AGREES WITH SELLER THAT PURCHASER IS PURCHASING
THE PROPERTY IN ITS "AS-IS, WHERE IS" CONDITION "WITH ALL FAULTS" AS OF THE CLOSING DATE AND SPECIFICALLY AND
EXPRESSLY WITHOUT ANY WARRANTIES, REPRESENTATIONS OR GUARANTEES, EITHER EXPRESS OR IMPLIED, AS TO ITS CONDITION, FITNESS FOR ANY
PARTICULAR PURPOSE, MERCHANTABILITY, OR ANY OTHER WARRANTY OF ANY KIND, NATURE, OR TYPE WHATSOEVER FROM OR ON BEHALF OF SELLER.
EXCEPT FOR THE REPRESENTATIONS AND WARRANTIES OF SELLER EXPRESSLY SET FORTH IN THIS AGREEMENT OR EXPRESSLY SET FORTH IN ANY DOCUMENTS
DELIVERED BY SELLER TO PURCHASER AT CLOSING, SELLER SPECIFICALLY DISCLAIMS ANY WARRANTY,

 

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GUARANTY OR REPRESENTATION, ORAL OR WRITTEN,
PAST OR PRESENT, EXPRESS OR IMPLIED, CONCERNING (A) THE VALUE, NATURE, QUALITY OR CONDITION OF THE PROPERTY, INCLUDING THE WATER,
SOIL AND GEOLOGY, (B) THE INCOME TO BE DERIVED FROM THE PROPERTY, (C) THE SUITABILITY OF THE PROPERTY FOR ANY AND ALL ACTIVITIES
AND USES WHICH PURCHASER MAY CONDUCT THEREON, INCLUDING THE POSSIBILITIES FOR FUTURE DEVELOPMENT OF THE PROPERTY, (D) THE COMPLIANCE
OF OR BY THE PROPERTY OR ITS OPERATION WITH ANY LAWS, RULES, ORDINANCES OR REGULATIONS OF ANY APPLICABLE GOVERNMENTAL AUTHORITY
OR BODY, (E) THE HABITABILITY, MERCHANTABILITY, MARKETABILITY, PROFITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF THE PROPERTY,
(F) THE MANNER OR QUALITY OF THE CONSTRUCTION OR MATERIALS, IF ANY, INCORPORATED INTO THE PROPERTY, (G) THE MANNER, QUALITY, STATE
OF REPAIR OR LACK OF REPAIR OF THE PROPERTY, (H) THE PRESENCE OR ABSENCE OF HAZARDOUS MATERIALS AT, ON, UNDER, OR ADJACENT TO THE
PROPERTY OR ANY OTHER ENVIRONMENTAL MATTER OR CONDITION OF THE PROPERTY, (I) ANY LEASES, SERVICE CONTRACTS OR OTHER AGREEMENTS
OR WARRANTIES AFFECTING THE PROPERTY, OR (J) ANY OTHER MATTER WITH RESPECT TO THE PROPERTY. PURCHASER ACKNOWLEDGES AND AGREES THAT,
EXCEPT FOR THE REPRESENTATIONS AND WARRANTIES OF SELLER EXPRESSLY SET FORTH IN THIS AGREEMENT, ANY INFORMATION PROVIDED BY OR ON
BEHALF OF SELLER WITH RESPECT TO THE PROPERTY WAS OBTAINED FROM A VARIETY OF SOURCES AND THAT SELLER HAS NOT MADE ANY INDEPENDENT
INVESTIGATION OR VERIFICATION OF SUCH INFORMATION AND MAKES NO REPRESENTATIONS OR WARRANTIES AS TO THE ACCURACY OR COMPLETENESS
OF SUCH INFORMATION. SELLER SHALL NOT BE LIABLE OR BOUND IN ANY MANNER BY ANY ORAL OR WRITTEN STATEMENTS, REPRESENTATIONS OR INFORMATION
PERTAINING TO THE PROPERTY, OR THE OPERATION THEREOF, FURNISHED BY ANY REAL ESTATE BROKER, AGENT, EMPLOYEE, SERVANT OR OTHER PERSON
EXCEPT FOR THE EXPRESS REPRESENTATIONS AND WARRANTIES SET FORTH IN THIS AGREEMENT OR IN THE DOCUMENTS DELIVERED BY SELLER TO PURCHASER
AT CLOSING. PURCHASER FURTHER ACKNOWLEDGES AND AGREES THAT PURCHASER IS A SOPHISTICATED AND EXPERIENCED PURCHASER OF PROPERTIES
SUCH AS THE PROPERTY AND HAS BEEN DULY REPRESENTED BY COUNSEL IN CONNECTION WITH THE NEGOTIATION OF THIS AGREEMENT. SELLER HAS
MADE NO AGREEMENT TO ALTER, REPAIR OR IMPROVE ANY OF THE PROPERTY.

 

7.2Release of
Seller. Purchaser acknowledges that it will have the opportunity to inspect the Property during the Due Diligence Period, and
during such period, observe its physical characteristics and existing conditions and the opportunity to conduct such investigation
and study on and of the Property and adjacent areas as Purchaser deems necessary, and by closing the transactions contemplated
by this Agreement at Closing, Purchaser will be deemed to FOREVER RELEASE AND DISCHARGE Seller from all duties, obligations, responsibility
and liability pertaining to the Property in any way, including its condition, valuation, salability, financeability or utility
of the Property, or its suitability for any purpose whatsoever (including with respect to the presence in the soil, air, structures
and surface and subsurface waters, of Hazardous Materials or other materials or substances that have been or may in the future
be determined to be toxic, hazardous, undesirable or subject to regulation and that may need to be specially treated, handled and/or
removed from the Property under current or future federal, state and local laws, regulations or guidelines, and any structural
and geologic conditions, subsurface soil and water conditions and solid and hazardous waste and Hazardous Materials on, under,
adjacent to or otherwise affecting the Property), including:

 

    	14

    	 

    

(a) liabilities and responsibilities for
the lessor’s obligations under the Leases relating to the physical, environmental or legal compliance status of the Property,
whether arising before or after the date of this Agreement; and (b) liabilities under CERCLA; EXCEPT this Section 7.2 shall not
be construed to release, discharge or waive any claims against Seller for the breach of any representation or warranty of Seller
expressly set forth in this Agreement or expressly set forth in any documents delivered by Seller to Purchaser at Closing (collectively,
the "Excluded Claims"). Purchaser, by closing the transactions contemplated by this Agreement, will be deemed
to have WAIVED any and all objections and complaints (including federal, state and local statutory and common law based actions,
and any private right of action under any federal, state or local laws, regulations or guidelines to which the Property is or may
be subject, including CERCLA) concerning the physical characteristics and any existing conditions of the Property, including the
lessor’s obligations under the Leases relating to the physical, environmental or legal compliance status of the Property,
whether arising before or after the date of this Agreement, with the exception of the Excluded Claims. Purchaser further hereby
assumes the risk of changes in applicable laws and regulations relating to past, present and future environmental conditions on
the Property and the risk that adverse physical characteristics and conditions, including the presence of Hazardous Materials or
other contaminants, may not have been revealed by its investigation.

 

7.3Certain Definitions.
For purposes hereof, (a) the term "CERCLA " means the Comprehensive Environmental Response Compensation and Liability
Act and other federal laws governing Hazardous Materials as in effect on the date of this Agreement, together with its implementing
regulations and guidelines as of the date of this Agreement; and (b) the term "Hazardous Materials" means any
substance which is (i) designated, defined, classified or regulated as a hazardous substance, hazardous material, hazardous waste,
pollutant or contaminant under any applicable law, as currently in effect as of the date of this Agreement (ii) petroleum hydrocarbon,
including crude oil or any fraction thereof and all petroleum products, (iii) PCBs, (iv) lead, (v) friable asbestos, (vi) flammable
explosives, (vii) infectious materials or (viii) radioactive materials.

 

7.4Survival.
The terms and conditions of this Article 7 shall expressly survive the Closing, not merge with the provisions of any closing documents
and shall be deemed incorporated into the Deed. Purchaser acknowledges and agrees that the releases, waivers and disclaimers and
other agreements set forth herein are an integral part of this Agreement and that Seller would not have agreed to sell the Property
to Purchaser for the Purchase Price without the releases, waivers and disclaimers and other agreements set forth above.

 

SECTION 8PURCHASER'S
REPRESENTATIONS AND WARRANTIES

 

Purchaser hereby represents
and warrants to Seller as follows:

 

8.1       
Authority. Purchaser has the legal power, right and authority to enter into this Agreement and, at Closing, will have the
legal power, right and authority to consummate the transactions contemplated hereby. All required corporate action has been taken
to approve the transactions contemplated by this Agreement and this Agreement is the valid and binding obligation of Purchaser.

 

8.2       
Conflicts. Neither the execution and delivery of this Agreement nor the consummation of the transactions herein contemplated
conflict with or result in the material breach of any terms, conditions or provisions of or constitute a default under,

 

    	15

    	 

    

any bond, note, or other evidence
of indebtedness or any agreement to which Purchaser is a party.

 

8.3       
Patriot Act. Purchaser represents, warrants and covenants that neither Purchaser, nor ARC RRINSIN001, LLC, a Delaware limited
liability company ("Approved Assignee") nor any of their respective partners, officers, directors or members (i)
is listed on the Specially Designated Nationals and Blocked Persons List maintained by the Office of Foreign Asset Control, Department
of the Treasury ("OFAC") pursuant to Executive Order No. 13224, 66 Fed. Reg. 49079 (Sept. 25, 2001) (the “Order”)
and all applicable provisions of Title III of the USA Patriot Act (Public Law No. 107-56 (October 26, 2001)); (ii) is listed on
the Denied Persons List and Entity List maintained by the United States Department of Commerce; (iii) is listed on the List of
Terrorists and List of Disbarred Parties maintained by the United States Department of State, (iv) is listed on any list or qualification
of “Designated Nationals” as defined in the Cuban Assets Control Regulations 31 C.F.R. Part 515; (v) is listed on any
other publicly available list of terrorists, terrorist organizations or narcotics traffickers maintained by the United States Department
of State, the United States Department of Commerce or any other governmental authority or pursuant to the Order, the rules and
regulations of OFAC (including without limitation the Trading with the Enemy Act, 50 U.S.C. App. 1-44; the International Emergency
Economic Powers Act, 50 U.S.C. §§ 1701-06; the unrepealed provision of the Iraq Sanctions Act, Publ.L. No. 101-513; the
United Nations Participation Act, 22 U.S.C. § 2349 aa-9; The Cuban Democracy Act, 22 U.S.C. §§ 60-01-10; The Cuban
Liberty and Democratic Solidarity Act, 18.U.S.C. §§ 2332d and 233; and The Foreign Narcotic Kingpin Designation Act,
Publ. L. No. 106-120 and 107-108, all as may be amended from time to time); or any other applicable requirements contained in any
enabling legislation or other Executive Orders in respect of the Order (the Order and such other rules, regulations, legislation
or orders are collectively called the “Orders”); (vi) is engaged in activities prohibited in the Orders; or
(vii) has been convicted, pleaded nolo contendere, indicted, arraigned or custodially detained on charges involving money laundering
or predicate crimes to money laundering, drug trafficking, terrorist-related activities or other money laundering predicate crimes
or in connection with the Bank Secrecy Act (31 U.S.C. §§ 5311 et. seq.).

 

8.4       
Restricted Entities. Neither Purchaser, Approved Assignee nor any of their respective partners, officers, directors or members
is a restricted entity listed on Exhibit M attached hereto (a "Restricted Entity").

 

8.5       
Bankruptcy. Purchaser is not the subject of any pending proceeding under any federal or state bankruptcy or insolvency laws
or laws for the appointment of a receiver or for the reorganization of debtors.

 

The representations
and warranties of Purchaser set forth in this Agreement shall be deemed remade as of Closing, and said representations and warranties
as so remade shall survive the Closing without limitation on duration.

 

SECTION 9CLOSING
COSTS

 

Seller shall pay the
following expenses incurred in connection with the transactions described herein: (i) costs to obtain the Title Commitment and
a standard ALTA owner's title policy in the amount of the Purchase Price, (ii) the costs of any endorsements to Purchaser's

 

    	16

    	 

    

title insurance policy required to cure
any objections to the Title Commitment or the Survey that Seller is required or has agreed to cure pursuant to Section 3.3, (iii)
the cost to obtain the Survey, (iv) one-half the escrow fee charged by the Escrow Company, (v) Seller's legal fees and expenses,
and (vi) unless otherwise provided herein, all other closing costs customarily paid for by sellers of commercial real property
in Indiana. Purchaser shall pay the following expenses incurred in connection with the transactions described herein: (a) the costs
for any title endorsements (provided that the issuance of any of same will not be a condition to Closing in any respect) other
than endorsements required to cure any objections to the Title Commitment or the Survey that Seller is required or has agreed to
cure pursuant to Section 3.3, (b) the costs to obtain a lender's policy of title insurance, if any, and all endorsements thereto,
(c) the costs of any update or revisions to the Survey required by Purchaser, (d) one-half of the escrow fee charged by the Escrow
Company, (e) any and all costs and expenses of consultants, engineers and other professionals engaged by Purchaser in connection
with its due diligence, (f) Purchaser's legal fees and expenses, and (g) unless otherwise provided herein, all other closing costs
customarily paid for by purchasers of commercial real property in Indiana.

 

SECTION 10BROKERAGE
COMMISSIONS

 

Seller shall pay all
commissions brokerage fees due to CB Richard Ellis, Inc. ("Broker") pursuant to a separate agreement between Seller
and Broker. Seller and Purchaser each warrant and represent to the other that, except for Broker, neither has had any dealings
with any broker, agent or finder relating to the sale of the Property or the other transactions contemplated hereby, and each agrees
to indemnify, defend and hold the other harmless from and against any claim for brokerage commissions, compensation or fees by
any broker, agent or finder in connection with the sale of the Property or the other transactions contemplated hereby resulting
from the acts of the indemnifying party. The provisions of this Section 10 shall survive the Closing.

 

SECTION 11NOTICE

 

All notices, demands
and communications (a "Notice") under this Agreement shall be delivered or sent by: (a) hand delivery, (b) certified
mail, postage prepaid, return receipt requested, (c) facsimile with confirmation of successful tranmission generated by the sender's
machine, or (d) nationally recognized overnight carrier, to the applicable address/fax number of the intended recipient set forth
below or to such other address/fax number as either party may designate by notice pursuant to this Article.

 

	
        Notices to Seller:

         
	
        Eli Lilly and Company

        Lilly Corporate Center

        Drop Code 2046

        Indianapolis, IN 46285

        Attn: Stephen L. Van Soelen

        Fax: 317-276-9662

         

	
        With a copy to:

         
	
        ICE MILLER LLP

        One American Square

        Suite 2900

        Indianapolis, IN 46282-0001

        Attn: Zeff Weiss

        Fax: 317-592-4788

         

    	17

    	 

    

 

	
        Notices to Purchaser:
	
        AR Capital, LLC

        405 Park Avenue, 15th Floor

        New York, NY 10022

        Attn: Edward M. Weil, Jr.

        Fax: 212-421-5799

         

	
        With a copy to:
	
        AR Capital, LLC

        405 Park Avenue, 15th Floor

        New York, NY 10022

        Attn: Jesse C. Galloway

        Fax: 212-421-5799

	 	 
	And copy to:	
        James A. (Jim) Mezzanotte

        AR Capital, LLC

        7621 Little Avenue, Suite 200

        Charlotte, NC 28226

        Fax: 212-415-6507

         

Notices shall be deemed given: (i) on the
date delivered, if sent by hand delivery or delivered by facsimile transmission or by electronic mail (e.g. email); (ii) one business
day after deposit with an overnight carrier, if sent by nationally recognized overnight carrier; (iii) three business days after
being mailed, if sent by certified mail, postage prepaid, return receipt requested; or (iv) on the date transmitted if confirmation
of successful transmission is generated by the sender’s machine by 5:00pm Eastern Time on a business day, if sent by facsimile
(and if confirmation of successful transmission is generated by the sender's machine on a non-business day or after 5:00pm Eastern
Time on a business day, such Notice shall be deemed given on the following business day. Notices may be sent by counsel for a party
and such shall be deemed notice by the party so represented. Notices shall be deemed served as set forth above, even if such notices
are rejected or delivery refused by the intended recipient.

 

SECTION 12CASUALTY
AND CONDEMNATION

 

12.1    
If an Office Building (as defined in the RR Sublease) is "substantially destroyed" (as defined in Section 12.2.1 of the
RR Sublease) such that Tenant would have a right to terminate the RR Sublease (i.e. within thirty (30) days of such event, Seller
does not deliver to Tenant, with a copy to Purchaser, a written opinion of a qualified contractor that restoration of the Office
Building can be completed within fourteen (14) months of the date of the casualty), then Purchaser may, as its sole and exclusive
right and remedy, terminate this Agreement by written notice to Seller given on or before ten (10) days after Seller gives notice
to Purchaser that the restoration will take more than fourteen (14) months or otherwise fails to deliver such written opinion within
the thirty (30) day time period set forth above. In the event of a termination pursuant to this Section 12.1, the Earnest Money
(including the Termination Amount) shall be returned to Purchaser and neither party shall have any further obligation under this
Agreement, except for the Termination Surviving Obligations. If Purchaser is not entitled to or does not elect to so terminate
this Agreement, then the Closing shall take place as herein provided (with the Closing Date being extended as necessary to account
for the time periods described above) without abatement of the Purchase Price, and Seller shall assign and transfer to Purchaser
on the Closing Date, without warranty or recourse, all of Seller's right, title and interest in and to all insurance proceeds paid
or payable to Seller on account of such fire or casualty (less Seller’s reasonable costs of

 

    	18

    	 

    

collection thereof and amounts
used for reasonable repairs), and Seller shall pay to Purchaser at Closing an amount equal to (i) the insurance deductibles applicable
to such casualty (less any portion thereof Tenant is responsible for under the RR Sublease), and (ii) any amount collected by Seller
from Tenant under Section 12.4 of the RR Sublease in connection with such casualty. 

 

12.2    
If (a) all or any part of the Improvements is taken by eminent domain or if a legal proceeding seeking such taking by eminent domain
is filed prior to the Closing Date, and (b) the taking will result in a termination of the RR Sublease pursuant to Section 13.1
thereof, then Purchaser may, as its sole and exclusive right and remedy, terminate this Agreement by notice to Seller given on
or before ten (10) days after notice of such taking (and the Closing Date shall be extended as necessary to account for such ten
(10) day period), and, in the event of such termination, the Earnest Money shall be returned to Purchaser and neither party shall
have any further obligation under this Agreement, except for the Termination Surviving Obligations. If Purchaser is not entitled
to or does not elect to so terminate, the Closing shall take place as herein provided without abatement of the Purchase Price,
and Seller shall assign and transfer to Purchaser on the Closing Date, without warranty or recourse, all of Seller's right, title
and interest in and to all condemnation awards attributable to the Real Property paid or payable to Seller on account of such eminent
domain proceedings (less Seller’s reasonable costs incurred in connection with such proceedings and less amounts used for
reasonable repairs).

 

SECTION 13OPERATIONS
PRIOR TO CLOSING OR TERMINATION

 

13.1 Seller's Covenants.
Seller covenants and agrees with Purchaser that after the Effective Date until the Closing or termination of this Agreement, Seller
shall conduct its business involving the Property as follows:

 

(a)         
Seller shall not transfer title to any of the Property (other than use of regular business inventory or the transfer of Personal
Property no longer used in the operation of the Real Property which has been replaced with similar property, all in the ordinary
course of business) or create on the Property any easements, restrictions, covenants, mortgages or other encumbrances which will
survive Closing.

 

(b)         
Seller shall not enter into or amend any contracts or other agreements pertaining to the Property that will survive Closing, other
than (i) leases (which are specifically addressed in Section 14.1), (ii) contracts or other agreements reasonably entered into
in response to an emergency situation caused by a casualty, and (iii) contracts or other agreements that are entered into to fulfill
an obligation of Seller under the Leases and have been approved in writing by Purchaser (such approval not to be unreasonably withheld,
conditioned or delayed and will be deemed given if Purchaser fails to respond to a written request for approval within ten (10)
business days with a notice setting forth in reasonable detail the reasons for disapproval). At Closing, Purchaser shall assume
any contracts and agreements entered into by Seller pursuant to clause (ii) of this Section 13.1(b), provided that Purchaser shall
receive a credit against the Purchase Price to the extent amounts outstanding under such contracts or agreements as of the Closing
Date are not anticipated to be covered by insurance proceeds assigned to Purchaser or insurance deductibles paid to Purchaser at
Closing pursuant to Section 12.2. At Closing, Purchaser shall assume any contracts and agreements entered into by Seller pursuant
to clause (iii) of this Section 13.1(b), provided that Purchaser shall receive a credit against the Purchase Price for any amounts
outstanding under such contracts or agreements as of the

 

    	19

    	 

    

Closing Date that are not operating expenses
(any such amounts that are operating expenses shall be prorated pursuant to Section 5.4).

 

(c)         
Seller shall not collect rent more than one month in advance other than as expressly provided in or contemplated by the terms and
conditions of the Leases.

 

SECTION 14LEASING

 

14.1    
Approval/Execution of Leases. From and after the Effective Date until the Closing or termination of this Agreement, Seller
shall not execute any new leases (or amendments or terminations to existing leases) without the prior written consent of Purchaser
(such consent not to be unreasonably withheld, conditioned or delayed).

 

SECTION 15DEFAULTS
AND REMEDIES

 

15.1    
Seller Defaults. In the event that Seller, on or prior to the Closing Date, shall default in the performance of its obligations
hereunder, Purchaser, as its sole and exclusive remedy, may either (a) seek specific performance of Seller’s obligations
hereunder, provided that any suit for specific performance must be brought within sixty (60) days after Seller’s default,
failing which, Purchaser shall be deemed to have waived its right to specific performance to the maximum extent permitted by law,
or (b) terminate this Agreement, in which case (i) Purchaser shall receive a refund of the Earnest Money (including the Termination
Amount), (ii) Seller shall reimburse Purchaser for Purchaser's reasonable and actual third-party costs incurred in connection with
this Agreement in an amount not to exceed One Hundred Thousand Dollars ($100,000) upon receipt of an invoice and reasonable supporting
documentation, and (iii) neither party shall have any further obligation to the other party hereunder. The provisions of this Section
shall not limit Purchaser’s or Seller's right to pursue and recover on a claim with respect to any of the Termination Surviving
Obligations. Purchaser hereby waives any other rights or remedies including the right to seek money damages. This Agreement confers
no present right, title or interest in the Property to Purchaser, and Purchaser agrees not to file a lis pendens or other similar
notice against the Property at any time or for any reason, except only in connection with, and after the filing of, a suit for
specific performance.

 

15.2    
Purchaser Defaults. In the event that Purchaser, on or prior to the Closing Date, shall default in the performance of its
obligations under this Agreement, then Seller, as its sole and exclusive remedy, may terminate this Agreement by notifying Purchaser
thereof and receive and retain the Earnest Money as liquidated damages, provided that this provision shall not limit Seller's or
Purchaser's rights to pursue and recover on a claim with respect to any of the Termination Surviving Obligations. In the event
Seller is entitled to the Earnest Money as liquidated damages, and to the extent Seller has not already received the Earnest Money,
Purchaser agrees to take all such actions and execute and deliver all such documents necessary or appropriate to effect such payment.

 

15.3    
Attorneys' Fees and Costs. In the event legal action is instituted to interpret or enforce the provisions of this Agreement,
the prevailing party shall be entitled to recover from the other party the prevailing party's reasonable costs and attorney's fees,
including all costs and fees that are incurred in any trial, on any appeal and/or in any bankruptcy proceeding. For purposes of
this Agreement, "prevailing

 

    	20

    	 

    

party" shall include a
party obtaining substantially the relief sought, whether by compromise, settlement or otherwise.

 

SECTION 16MISCELLANEOUS

 

16.1    
Entire Agreement; Amendments. This Agreement, together with the exhibits attached hereto (and the Confidentiality Agreement
incorporated herein), constitute the entire agreement of the parties hereto regarding the purchase and sale of the Property, and
all prior agreements, understandings, representations and statements, oral or written, including any so-called term sheets and
letters of intent, are hereby merged herein and superseded hereby. This Agreement may only be amended or modified by an instrument
in writing, signed by the party or parties intended to be bound thereby.

 

16.2    
TIME OF THE ESSENCE. ALL PARTIES HERETO AGREE THAT TIME IS OF THE ESSENCE IN THE PERFORMANCE OF THE PROVISIONS OF THIS AGREEMENT,
INCLUDING THE PARTIES’ RESPECTIVE OBLIGATIONS TO CLOSE ON THE CLOSING DATE.

 

16.3    
Counterpart/Electronic Delivery. This Agreement may be executed in one or more counterparts or by use of counterpart signature
pages. Furthermore, executed counterparts or counterpart signature pages of this Agreement may be delivered by facsimile or other
reliable electronic means (including sending .pdf documents by electronic mail), and executed counterparts or counterpart signature
pages so delivered shall be deemed to be originals for all purposes and shall be valid and binding for all purposes. Notwithstanding
the foregoing, each party delivering executed documents by facsimile or other electronic means agrees to provide the other party
with an original, hard copy of the relevant signed documents promptly after the request of the other party.

 

16.4    
Governing Law. This Agreement shall be deemed to be a contract made under the laws of the State of Indiana and for all purposes
shall be governed by and interpreted in accordance with the laws of the State of Indiana, without reference to conflicts of law
principles or rules.

 

16.5    
Recordation. Purchaser shall not record this Agreement or a memorandum or other notice thereof in any public office or records
without the express written consent of Seller except as may be required in connection with a suit for specific performance filed
in accordance with Section 15.1. A breach by Purchaser of this covenant shall constitute a material default by Purchaser under
this Agreement.

 

16.6    
Assignment; Third Party Beneficiaries. Purchaser shall not assign this Agreement without Seller's prior written consent,
which consent may be withheld for any reason or no reason in Seller’s sole discretion. Purchaser is entering into this Agreement
for and on behalf of Approved Assignee, a special purpose entity and affiliate of Purchaser, provided that the foregoing shall
not relieve Purchaser of any of its obligations or liability under this Agreement. Notwithstanding the first sentence of this Section
16.6, Purchaser may assign this Agreement without the consent of Seller to Approved Assignee. In the event of such an assignment,
Approved Assignee shall take title to all of the Property and the original Purchaser and Approved Assignee shall be jointly and
severally liable for Purchaser’s obligations hereunder. Subject to the

 

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previous sentence, this Agreement
shall inure to the benefit of and be binding on and enforceable against the parties hereto and their respective successors and
assigns. This Agreement is intended for the benefit of Purchaser and Seller, and except as provided in the indemnity granted by
Purchaser Section 3.2 with respect to the Indemnified Parties described therein, no other person or entity shall be entitled to
rely on this Agreement, receive any benefit from it or enforce any provisions of it against Purchaser or Seller.

 

16.7    
Section Headings. The Section headings contained in this Agreement are for convenience only and shall in no way enlarge
or limit the scope or meaning of the various and several Sections hereof.

 

16.8    
Severability. If any portion of this Agreement is held to be unenforceable by a court of competent jurisdiction, the remainder
of this Agreement shall remain in full force and effect.

 

16.9    
Waiver of Trial by Jury; Venue. Seller and Purchaser, to the extent they may legally do so, hereby expressly waive any
right to trial by jury of any claim, demand, action, cause of action or proceeding arising under or with respect to this Agreement,
or in any way connected with, or related to, or incidental to, the dealings of the parties hereto with respect to this Agreement
or the transactions related hereto or thereto, in each case whether now existing or hereafter arising, and irrespective of whether
sounding in contract, tort, or otherwise. With respect to any suit, action or proceedings relating to this Agreement, each
party irrevocably (i) submits to the non-exclusive jurisdiction of the courts of Marion County, Indiana, and (ii) waives any objection
which it may have at any time to the laying of venue of any proceedings brought in any such court, waives any claim that such proceedings
have been brought in an inconvenient forum and further waives the right to object with respect to such proceedings that such court
does not have jurisdiction over such party.

 

16.10 
Exculpation of Related Parties. Notwithstanding anything to the contrary contained in this Agreement or in any of the documents
executed pursuant to this Agreement (this Agreement and said documents being hereinafter collectively referred to as the “Documents”)
or provided under or required by law, the Documents shall not be binding on the direct or indirect shareholders, directors, managers,
beneficiaries, or any other equity holders of Seller, or any of their employees, advisors, representatives or other agents or affiliates,
but shall only be binding on Seller and its assets, subject to the other limitations set forth herein.

 

16.11 
Independent Counsel; Interpretation. Purchaser and Seller each acknowledge that: (a) they have been represented by independent
counsel in connection with this Agreement; (b) they have executed this Agreement with the advice of such counsel; and (c) this
Agreement is the result of arms-length negotiations between the parties hereto and the advice and assistance of their respective
counsel. Notwithstanding any rule of law to the contrary: (i) the fact that this Agreement was prepared by Seller's counsel as
a matter of convenience shall have no import or significance, and any uncertainty or ambiguity in this Agreement shall not be construed
against Seller because Seller's counsel prepared this Agreement; and (ii) no deletions from prior drafts of this Agreement shall
be construed to create the opposite intent of the deleted provisions.

 

    	22

    	 

    
 

16.12 
Governmental Approvals. Nothing contained in this Agreement shall be construed as authorizing Purchaser to apply for a zoning
change, variance, subdivision maps, lot line adjustment, or other discretionary governmental act, approval or permit with respect
to the Property prior to the Closing, and Purchaser agrees not to do so. Purchaser agrees not to submit any reports, studies or
other documents, including plans and specifications, impact statements for water, sewage, drainage or traffic, environmental reports,
or energy conservation checklists to any governmental agency prior to the Closing. Purchaser's obligation to purchase the Property
shall not be subject to or conditioned upon Purchaser's obtaining any variances, zoning amendments, subdivision maps, lot line
adjustment or other discretionary governmental act, approval or permit.

 

16.13 
No Waiver. No covenant, term or condition of this Agreement, other than as expressly set forth herein, shall be deemed to
have been waived by Seller or Purchaser unless such waiver is in writing and executed by Seller or Purchaser, as the case may be.

 

16.14 
Survival. The Termination Surviving Obligations shall survive any termination of this Agreement. Except as otherwise expressly
provided herein, no conditions and no representations, warranties, covenants, agreements or other obligations of Seller in this
Agreement shall survive the Closing and no action based thereon shall be commenced after the Closing.

 

16.15 
Meaning of "Include" and Variations Thereof. Whenever the words "include," "includes" or "including"
are used in this Agreement, they shall be understood to be followed by the words "without limitation."

 

16.16 
Meaning of "business day". As used in this Agreement, a "business day" shall mean any day other than
a Saturday, Sunday or any other day on which national banks in Indianapolis, Indiana are not open for business.

 

16.17 
Dedication of Henry Street Property. Purchaser acknowledges that Seller has submitted the Grant of Right of Way attached
hereto as Exhibit P to the City of Indianapolis, Department of Public Works to dedicate the Henry Street Property
(except for the air rights related to the existing overhead walkway which is located over the Henry Street Property) as public
right-of-way. Purchaser shall not require any compensation from the City of Indianapolis as a condition of such dedication and
agrees to accept the Henry Street Property subject to such Grant of Right of Way. If for any reason such dedication is not finalized
prior to Closing, Seller and Purchaser agree to reasonably cooperate with each other to finalize such dedication.

  

 

IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be executed and delivered as of the Effective Date.

  

 

 

COUNTERPART SIGNATURE PAGES FOLLOW

 

    	23

    	 

    
 

COUNTERPART SIGNATURE PAGE TO

AGREEMENT OF PURCHASE AND SALE

 

 

 

PURCHASER:

 

AR CAPITAL, LLC, a Delaware limited
liability company

 

 

By:/s/ Edward M. Weil, Jr.                       

 

Name: Edward M. Weil, Jr.

 

Title: President

 

 

    	24

    	 

    

COUNTERPART SIGNATURE PAGE TO

AGREEMENT OF PURCHASE AND SALE

 

 

 

SELLER:

 

 

ELI LILLY AND COMPANY,

an Indiana corporation

 

 

By:/s/ Stephen L. Van Soelen                          

Stephen L. Van Soelen, Director
–

Strategic Real Estate & Facilities
Planning

  

    	25

    	 

    

LIST OF EXHIBITS AND SCHEDULES

 

 

 

		I	EXHIBITS

 

		A	Legal Description of the Land

 

		B	List of Leases

 

		C	Escrow Agreement

 

		D	Form of Rolls-Royce Estoppel

 

		E	Form of Deed

 

		F	Form of Bill of Sale

 

		G	Form of Assignment and Assumption of Leases

 

		H	Form of Assignment and Assumption of Warranties

 

		I	Form of Notices to Tenants regarding Transfer of Property

 

		J	Partial Assignment of Parking Agreement

 

		K	Partial Assignment of City Maintenance Agreement

 

		L	Form of Rooftop Cell Tenant Estoppel

 

		M	Restricted Entities

 

		N	Real Estate Tax Agreement

 

		O	Henry Street Quitclaim Deed

 

		P	Grant of Right of Way

 

		II.	SCHEDULES

 

		3.1	Due Diligence Materials

  

    	26

    	 

    

EXHIBIT A

 

LEGAL DESCRIPTION OF THE LAND 

 

(Faris I Building)

 

Lots 10, 11, 12 and part of Lots 8,
9, 13, 14, 15 and 16 of Russell's Heirs Subdivision of Out Lot 26 of the Donation Lands of the City of Indianapolis, as per plat
thereof, recorded in Plat Book 2, page 24 in the Office of the Recorder of Marion County, Indiana; also, part of the first alley
West of Meridian Street, lying North of Merrill Street, as vacated per Declaratory Resolution 99-CP-13VAC and recorded as Instrument
#1999-0155155 in the said Recorder's Office, all being more particularly described as follows:

 

Commencing at the Northeast corner of
Lot 1 of Russell's Heirs Subdivision; thence along the East line thereof, also being the West right of way or Meridian Street,
South 00 degrees 00 minutes 00 seconds East (basis of bearings-due North along the center line of Meridian Street) 278.66 feet
to the Point of Beginning; thence continuing along the said West right of way, South 00 degrees 00 minutes 00 seconds East 121.60
feet to the Southeast corner of Lot 12 in said subdivision; thence along the South line of said Lot 12 and the extension thereof,
also being the North right of way of Merrill Street, North 89 degrees 44 minutes 45 seconds West 277.54 feet; thence North 00 degrees
00 minutes 00 seconds East 106.74 feet; thence North 90 degrees 00 minutes 00 seconds East 81.20 feet; thence North 00 degrees
00 minutes 00 seconds East 14.50 feet; thence South 89 degrees 44 minutes 45 seconds East 60.44 feet; thence North 00 degrees 15
minutes 15 seconds East 12.86 feet; thence South 89 degrees 44 minutes 45 seconds East 20.24 feet; thence South 00 degrees 15 minutes
15 seconds West 12.86 feet; thence South 89 degrees 44 minutes 45 seconds East 115.66 feet to the point of beginning.

 

(Faris I Access Parcel)

 

Part of Lots 1 through 9 inclusive of
Russell's Heirs Subdivision of Out Lot 26 of the Donation Lands of the City of Indianapolis, as per plat thereof, recorded in Plat
Book 2, page 24 in the Office of the Recorder of Marion County, Indiana; also, part of vacated Warsaw Street lying between Lots
6 and 7 of said Russell's Heirs Subdivision, vacated per Declaratory Resolution No. D 66-27 and recorded as Instrument #66-62087
in the said Recorder's Office; also, part of the alley lying West of and adjacent to Lot 7 of said Russell's Heirs Subdivision,
as vacated per Declaratory Resolution 99-CP-13VAC and recorded as Instrument #1999-0155155 in the said Recorder's Office, all being
more particularly described as follows:

 

Commencing at the Northeast corner of
Lot 1 of said Russell's Heirs Subdivision; thence along the East line thereof, also being the West right of way of Meridian Street,
South 00 degrees 00 minutes 00 seconds East (basis of bearings - due North along the center line of Meridian Street) 15.00 feet
to the Point of Beginning; thence continuing along the said West right of way, South 00 degrees 00 minutes 00 seconds East 263.66
feet; thence North 89 degrees 44 minutes 45 seconds West 115.66 feet; thence North 00 degrees 15 minutes 15 seconds East 12.86
feet; thence North 89 degrees 44 minutes 45 seconds West 20.24 feet; thence South 00 degrees 15 minutes 15 seconds West 12.86 feet;
thence North 89 degrees 44 minutes 45 seconds West 57.44 feet; thence North 07 degrees 45 minutes 00 seconds East 59.28 feet; thence
North 90 degrees 00 minutes 00 seconds East 41.60 feet; thence North 08 degrees 00 minutes 00 seconds East 130.50 feet; thence

 

    	A-1

    	 

    

North 90 degrees 00 minutes 00 seconds
East 13.20 feet; thence North 00 degrees 00 minutes 00 seconds East 75.13 feet to a point which bears North 89 degrees 51 minutes
00 seconds West 112.38 feet from the point of beginning; thence South 89 degrees 51 minutes 00 seconds East 112.38 feet to the
point of beginning.

 

(Faris II Building)

 

Part of Lots 8 through 16, inclusive,
Lots 17 through 20, inclusive, and part of Lots 21 and 22 in Seidensticker's Subdivision of the East Half of Out Lot No. 15 of
the Donation Lands of the City of Indianapolis, as per plat thereof, recorded in Plat Book 2, page 93 in the Office of the Recorder
of Marion County, Indiana; also a strip of ground 10 feet wide by parallel lines lying East of and adjacent to the East side of
Lots 17 through 20 and that part of Lot 21 in said Seidensticker's Subdivision; also, a part of Mechanic Street vacated per Declaratory
Resolution No. 99-CP-13 VAC recorded as Instrument No. 1999-0155155, all being more particularly described as follows:

 

Commencing at the Southeast corner of
Lot 16 in said subdivision; thence along the South line of said Lot 16, also being the North right of way of Henry Street, North
89 degrees 51 minutes 00 seconds West (basis of bearings-due North along the center line of Meridian Street) 102.50 feet to the
Point of Beginning; thence North 00 degrees 00 minutes 00 seconds East 18.95 feet; thence North 90 degrees 00 minutes 00 seconds
East 14.50 feet; thence North 00 degrees 00 minutes 00 seconds East 28.42 feet; thence North 90 degrees 00 minutes 00 seconds West
14.50 feet; thence North 00 degrees 00 minutes 00 seconds West 33.41 feet; thence North 90 degrees 00 minutes 00 seconds West 7.54
feet; thence North 07 degrees 59 minutes 24 seconds East 145.24 feet; thence North 90 degrees 00 minutes 00 seconds West 113.00
feet; thence North 00 degrees 00 minutes 00 seconds West 52.00 feet; thence North 90 degrees 00 minutes 00 seconds West 36.38 feet
to the West line of Lot 22 in said subdivision; thence along the West line of Lots 22 through 17 in said subdivision, thence South
00 degrees 06 minutes 53 seconds East 276.25 feet to the Southwest corner of said Lot 17; thence along the South line of said Lot
17 and the extension thereof, also being the North right of way of Henry Street, South 89 degrees 51 minutes 00 seconds East 136.18
feet to the point of beginning.

 

(Faris II Access Parcel)

 

Lots 1 through 7, Lots 23 and 24, part
of Lots 8 through 16, and part of Lots 21 and 22, all in Seidensticker's Subdivision of the East Half of Out Lot No. 15 of the
Donation Lands of the City of Indianapolis, as per plat thereof, recorded in Plat Book 2, page 93 in the Office of the Recorder
of Marion County, Indiana; also, a strip of ground 10 feet wide by parallel lines lying East of and adjacent to the East side of
Lots 22 through 24 and that part of Lot 21 in said Seidensticker's Subdivision; also, part of Mechanic Street vacated per Declaratory
Resolution No. 99-CP-13 VAC recorded as Instrument #99-0155155, all being more particularly described as follows:

 

Beginning at the Northeast corner of
Lot 1 in said Seidensticker's Subdivision; thence along the East line thereof, also being the West right of way of Meridian Street,
South 00 degrees 00 minutes 00 seconds East (basis of bearings - due North along the center line of Meridian Street) 400.00 feet
(plat) 400.21 feet (measured) to the Southeast corner of Lot 16 in said subdivision; thence along the South line of said Lot 16,
also being the North right of way of Henry Street, North 89 degrees 51 minutes 00 seconds West 102.50 feet; 

 

    	A-2

    	 

    

thence North 00 degrees 00 minutes 00
seconds East 18.95 feet; thence North 90 degrees 00 minutes 00 seconds East 14.50 feet; thence North 00 degrees 00 minutes 00 seconds
East 28.42 feet; thence North 90 degrees 00 minutes 00 seconds West 14.50 feet; thence North 00 degrees 00 minutes 00 seconds West
33.41 feet; thence North 90 degrees 00 minutes 00 seconds West 7.54 feet; thence North 07 degrees 59 minutes 24 seconds East 142.24
feet; thence North 90 degrees 00 minutes 00 seconds West 113.00 feet; thence North 00 degrees 00 minutes 00 seconds West 52.00
feet; thence North 90 degrees 00 minutes 00 seconds West 36.38 feet to the West line of Lot 22 in said subdivision; thence along
the West line of Lots 22 through 24 in said subdivision, North 00 degrees 06 minutes 53 seconds West 123.56 feet to the Northwest
corner of said Lot 24, which lies on the South right of way line of South Street; thence along said right of way South 89 degrees
56 minutes 46 seconds East 240.00 feet (plat) 239.47 feet (measured) to the point of beginning.

 

EXCEPTING THEREFROM:

 

Part of that 1.431 acre tract of land
described as “Parcel 4” in the Special Warranty Deed from Kite Henry, LLC to Eli Lilly and Company recorded as Instrument
Number 2002-0251905 in the Office of the Marion County Recorder being described as follows:

 

Beginning at the northeast corner of
Lot 1 in Seidensticker’s Subdivision per plat thereof recorded in Plat Book 2, Page 93; thence South 00 degrees 00 minutes
00 seconds East (basis of bearings is centerline of Meridian Street = North 00 degrees 00 minutes 00 seconds East) along the west
right of way line of Meridian Street a distance of 175.33 feet; thence North 90 degrees 00 minutes 00 seconds West a distance of
89.85 feet to a westerly corner of the tract of land described as Parcel 4 in Instrument number 2002-251905; thence the following
five courses along the westerly and north lines of said tract: 

 

1.North 90 degrees 00
minutes 00 seconds West a distance of 113.00 feet;

 

2.thence North
00 degrees 00 minutes 00 seconds East a distance of 52.00 feet;

 

3.thence North
90 degrees 00 minutes 00 seconds West a distance of 36.38 feet;

 

4.thence North
00 degrees 06 minutes 53 seconds West a distance of 123.56 feet;

 

5.thence South
89 degrees 56 minutes 46 seconds East a distance of 239.47 feet (240.00 feet, plat) to the Point of Beginning. 

 

(Parking Garage and Cafeteria/Conference
Building)

 

Part of Lots 1 through 8, part of Lots
13 through 16, all of Lots 17 through 23, inclusive, and part of Lot 24 of Russell's Heirs Subdivision of Out Lot 26 of the Donation
Lands of the City of Indianapolis, as per plat thereof, recorded in Plat Book 2, page 24 in the Office of the Recorder of Marion
County, Indiana; also, part of the alleys and/or street heretofore vacated lying within the block bounded by Meridian Street, Merrill
Street, Illinois Street, and Henry Street; also, part of Out Lot 26 of the Donation Lands of the City of Indianapolis, more particularly
described as a parcel of ground 192 feet in length from North to South by 60 feet in width from East to West, lying West of and
adjoining the alley running along the West side of Lots 1 to 6 and East of and adjoining the alley 

 

    	A-3

    	 

    

running along the East side of said
Lots 19 to 24, all being more particularly described as follows:

 

Commencing at the Northeast corner of
Lot 1 of said Russell's Heirs Subdivision; thence along the East line thereof, also being the West right of way of Meridian Street,
South 00 degrees 00 minutes 00 seconds East (basis of bearings-due North along the center line of Meridian Street) 15.00 feet;
thence North 89 degrees 51 minutes 00 seconds West 112.38 feet to the Point of Beginning; thence South 00 degrees 0 minutes 00
seconds West 75.13 feet; thence South 90 degrees 00 minutes 00 seconds West 13.20 feet; thence South 08 degrees 00 minutes 00 seconds
West 130.50 feet; thence South 90 degrees 00 minutes 00 seconds West 41.60 feet; thence South 07 degrees 45 minutes 00 seconds
West 59.28 feet; thence North 89 degrees 44 minutes 45 seconds West 3.00 feet; thence South 00 degrees 00 minutes 00 seconds West
14.50 feet; thence South 90 degrees 00 minutes 00 seconds West 81.20 feet; thence South 00 degrees 00 minutes 00 seconds West 106.74
feet to the South line of Lot 13 in said subdivision; thence along the South line of said Lot 13, also being the North right of
way of Merrill Street, North 89 degrees 44 minutes 45 seconds West 138.53 feet to the Southwest corner of said Lot 13; thence along
the West line of said Lots 13 through 24, also being the East right of way of Illinois Street, North 00 degrees 12 minutes 15 seconds
West 384.51 feet to a point which bears North 89 degrees 51 minutes 00 seconds West 305.05 feet from the point of beginning; thence
South 89 degrees 51 minutes 00 seconds East 305.05 feet to the point of beginning.

 

(Fitness Center and Surrounding Parking)

 

A portion of Out Lot 25 in the City
of Indianapolis, lying north of Merrill Street, east of Meridian Street and west of Madison Avenue and Union Street, and all of
vacated Merrill Street (vacated in Instrument number 99-156437), and a portion of Lots 1, 2, 3, 4, and 5, and all of Lots 6, 8,
9, 10, 11, 12, 13, 14, 15, 16, and 17 and the included vacated alleys, the vacated portion of Norwood Street and a portion of Union
Street in McCarty Heirs’ Subdivision of Out Lots 113 and a part of Lots 1, 2, 3, and 4 in McCarty Heirs’ Subdivision
of Out Lots 114 in the Donation Lands of the City of Indianapolis, as per plat thereof, recorded in Plat Book 2, page 54, in the
Office of the Recorder of Marion County, Indiana; and also a portion of Lot 20 and all of Lots 21, 22, 23, and 24 in Edwin Ray’s
Partition of Out Lot 115 of the Donation Land of the City of Indianapolis, as per plat thereof recorded in Town Lot Record 17,
pages 470 and 471 in said Recorder’s office described as follows: 

 

BEGINNING at the intersection of the
east right-of-way line of Meridian Street and the north right-of-way line of Merrill Street; thence North 00 degrees 07 minutes
56 seconds East 410.17 feet along the east right-of-way line of said Meridian Street; thence South 89 degrees 51 minutes 29 seconds
East 76.07 feet to southwest right-of-way line of Madison Avenue; thence South 19 degrees 57 minutes 19 seconds East 320.88 feet
along said southwest right-of-way line to the intersection of said southwest right-of-way line with the west right-of-way line
of Union Street; thence South 00 degrees 00 minutes 00 seconds East 108.83 feet along said west right-of-way line to the northeast
corner of said vacated Merrill Street (Instrument number 99-156437); thence South 00 degrees 00 minutes 00 seconds East 40.00 feet
to the southeast corner of said vacated Merrill Street; thence South 00 degrees 00 minutes 00 seconds East 20.00 feet along the
west right-of-way line of said Union Street; thence South 89 degrees 51 minutes 29 seconds East 58.52 feet to the west right-of-way
line of the proposed re-alignment of Madison Avenue; thence along said proposed west right-of-way line, Southerly 149.80 feet along
an arc to 

 

    	A-4

    	 

    

the right and having a radius of 556.00
feet and subtended by a long chord having a bearing of South 07 degrees 32 minutes 52 seconds East and a length of 149.35 feet;
thence South 00 degrees 00 minutes 00 seconds East 431.88 feet along said proposed right-of-way, parallel with the centerline of
vacated Union Street, to the north line of the Lilly Day Care Center Parcel as shown on the certain Land Title Survey prepared
by Paul I. Cripe, Inc. under Project No. 98438-30000, dated May 16, 1999; thence North 89 degrees 38 minutes 53 seconds West 238.90
feet along said north line to the east line of an alley; thence North 07 degrees 01 minute 04 seconds East 160.01 feet along said
east line to the northwest corner of said Lot 24 of Edwin Ray’s Partition of Out Lot 115; thence South 89 degrees 38 minutes
53 seconds East 11.87 feet along the north line of said Lot 24; thence North 00 degrees 21 minutes 07 seconds East 40.00 feet to
the southwest corner of said Lot 6 in McCarty Heirs’ Subdivision of Out Lot 113; thence North 00 degrees 00 minutes 00 seconds
East 45.50 feet along the west line of said Lot 6 to the northwest corner of said Lot 6; thence North 89 degrees 38 minutes 53
seconds West 142.41 feet along the south line of said Lot 8 in McCarty Heirs’ Subdivision of Out Lot 113 to the southeast
right-of-way line of Meridian Street; thence North 13 degrees 49 minutes 07 seconds East 364.50 feet to the southwest corner of
said vacated Merrill Street (Instrument number 99-156437); thence North 03 degrees 00 minutes 12 seconds West 40.06 feet to the
northwest corner of said vacated Merrill Street and the POINT OF BEGINNING and containing 5.222 acres, more or less. The bearings
in this description are based upon the centerline of vacated Union Street having a bearing of South 00 degrees 00 minutes 00 seconds
East.

 

EXCEPTING THEREFROM:

 

A portion of Out Lot 25 in the City
of Indianapolis, lying north of Merrill Street, east of Meridian Street and west of Madison Avenue and Union Street, and all of
vacated Merrill Street (vacated in Instrument number 99-156437), and a portion of Lots 14, 15, 16, and 17 and the included vacated
alleys in McCarty Heirs' Subdivision of Out Lots 113 in the Donation Lands of the City of Indianapolis, as per plat thereof, recorded
in Plat Book 2, page 54, in the Office of the Recorder of Marion County, Indiana described as follows: 

 

BEGINNING at the intersection of the
east right-of-way line of Meridian Street and the north right-of-way line of Merrill Street; thence North 00 degrees 07 minutes
56 seconds East 410.17 feet along the east right-of-way line of said Meridian Street; thence South 89 degrees 51 minutes 29 seconds
East 76.07 feet to southwest right-of-way line of Madison Avenue; thence South 19 degrees 57 minutes 19 seconds East 320.88 feet
along said southwest right-of-way line to the intersection of said southwest right-of-way line with the west right-of-way line
of Union Street; thence South 00 degrees 00 minutes 00 seconds East 108.83 feet along said west right-of-way line to the northeast
comer of said vacated Merrill Street (Instrument number 99-156437); thence South 00 degrees 00 minutes 00 seconds East 40.00 feet
to the southeast corner of said vacated Merrill Street; thence South 00 degrees 00 minutes 00 seconds East 12.36 feet along the
west right-of-way line of said Union Street; thence South 89 degrees 46 minutes 40 seconds West 100.67 feet; thence South 00 degrees
27 minutes 40 seconds West 33.53 feet; thence North 88 degrees 56 minutes 26 seconds West 16.35 feet; thence South 00 degrees 49
minutes 49 seconds East 146.66 feet to the face of curb on the north side of the Lilly Recreational Center; thence North 89 degrees
50 minutes 51 seconds West along said face of curb a distance of 80.97 feet to the east end of a brick retaining wall; thence North
01 degrees 17 minutes 51 seconds East along the east face of said brick retaining wall a distance of 1.32 feet; thence North 89
degrees 32 minutes 14 seconds West along the 

 

    	A-5

    	 

    

north face of said brick retaining wall
a distance of 35.37 feet to the southeast right-of-way line of Meridian Street; thence North 13 degrees 49 minutes 07 seconds East
196.95 feet to the southwest corner of said vacated Merrill Street (Instrument number 99-156437); thence North 03 degrees 00 minutes
12 seconds West 40.06 feet to the northwest corner of said vacated Merrill Street and the POINT OF BEGINNING. The bearings in this
description are based upon the centerline of vacated Union Street having a bearing of South 00 degrees 00 minutes 00 seconds East.

 

    	A-6

    	 

    

EXHIBIT B

 

LIST OF LEASES

 

RR Lease

 

RR Sublease

 

Standard Lease Agreement, dated March 30,
1998, by and between Omnipoint Communications Midwest Operations, LLC and Rapid Press, Inc. (predecessor in interest to Seller).

 

Site Agreement, executed by Sprint Spectrum
L.P. on December 22, 1997 and executed by Rapid Press, Inc. on December 3, 1997, as amended by that certain First Amendment to
PCS Site Agreement, dated August 31, 2006, by and between Eli Lilly and Company (as successor in interest to Rapid Press, Inc)
and Sprint Spectrum Realty Company LP (as successor in interest to Sprint Spectrum L.P.).

 

    	B-1

    	 

    

EXHIBIT C

 

ESCROW AGREEMENT

 

 

 

 

Chicago
Title Insurance Company

EARNEST MONEY ESCROW AGREEMENT

 

CTIC 456750

 

This Earnest Money Escrow Agreement, is entered into this ___
day of __________, 2013, by and between Chicago Title Insurance Company (“Title Company”) and AR Capital, LLC, a Delaware
limited liability company (“Purchaser”) and Eli Lilly and Company, an Indiana corporation (“Seller”).

 

Whereas, Seller and Purchaser have entered into an Agreement
of Purchase and Sale, dated April ___, 2013 (the "Purchase Agreement"), whereby Seller has agreed to sell and Purchaser
has agreed to purchase the real estate described in the Title Company's title commitment Order No. 456750 Revision No. 10;

 

Whereas, pursuant to the Purchase Agreement, Purchaser and Seller
have agreed to place a portion of the purchase money in escrow (“Earnest Money”);

 

Whereas, Purchaser has delivered an Earnest Money deposit in
the amount of $5,000,000.00 to Title Company to be held pursuant to the terms and provisions set forth herein; and

 

Now, therefore, in consideration of the foregoing and other
good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

 

		1.	Title Company acknowledges receipt of the $5,000,000.00 Earnest Money deposit and agrees to deposit such Earnest Money in accordance
with the terms and conditions of this Escrow Agreement. Upon receipt of the additional Earnest Money deposit, Title Company agrees
to deposit such Earnest Money in accordance with the terms and conditions of this Escrow Agreement.

 

		2.	Title Company shall deposit the Earnest Money in a money market savings account at JPMorgan Chase Bank, NA (“Depository”)
in the customer name of Select Income REIT, by Title Company, as Escrow Agent.

 

		a.	The investment shall be for a term beginning on the date of deposit and ending on the earlier of the closing date or upon written
notification from Seller and Purchaser

    	C-1

    	 

    

satisfactory to Title Company.

 

		b.	All interest will become a part of the Earnest Money and be reported to the Internal Revenue Service for the account of:

 

	Name:	AR Capital, LLC
	Address:	405 Park Avenue, 15th Floor
	 	New York, NY  10022
	Phone:	212-415-6500 
	Fax: 	212-421-5799

Tax ID or Social Security
No.

 

		c.	Upon the Depository’s request, Title Company will prepare the appropriate Internal Revenue Service Documentation to report
taxpayer identification information relating to this account. In the event Purchaser is unable or refuses to execute the IRS documentation,
Title Company is authorized to execute the documents on Purchaser’s behalf.

 

		d.	Title Company shall not be responsible for any penalties, or loss of principal or interest, or any delays in the withdrawal
of the Earnest Money which may be imposed by the Depository as a result of the making or redeeming of the investment pursuant to
the instructions contained herein. Nor shall Title Company be liable for any loss or impairment of the Earnest Money while the
Earnest Money is in the course of collection or while the Earnest Money is on deposit with the Depository, in each case if such
a loss or impairment results from the failure, insolvency or suspension of the Depository.

 

		3.	The Earnest Money plus all interest accruing thereon shall be paid to Seller and credited on behalf of Purchaser against the
purchase price at closing as reflected on closing statements executed by Seller and Purchaser unless Title Company receives a joint
written direction executed by Seller and Purchaser or their respective legal representatives authorizing Title Company to otherwise
disburse or apply the Earnest Money.  

 

		4.	Title Company shall be deemed to have no notice of, and shall not be controlled, limited, or bound by any of the provisions
contained in any other agreement, contract or document, including the Purchase Agreement, between Purchaser and Seller,
or between them, individually or collectively, and any other person.

 

		5.	Title Company’s charges for acting as escrow agent hereunder shall be $50. Seller and Purchaser shall be jointly and
severally liable for any and all charges associated with Title Company acting as escrow agent under this agreement. Title Company
is permitted to retain its fees out of the Earnest Money upon release of such funds for any reason other than for the purpose of
closing.

 

		6.	Without limitation, Title Company shall not be liable for loss or damage resulting from the following:

    	C-2

    	 

    

 

		a.	Any default, error, action or omission of any other party.

		b.	The expiration of any time limit or other delay, unless such time limit was known to Title Company and such loss is solely
caused by failure of Title Company to proceed in its ordinary course of business.

		c.	Any good faith act or forbearance by Title Company.

		d.	Compliance by Title Company with any and all legal process, writs, orders, judgments and decrees of any court whether issued
with or without jurisdiction, and whether or not subsequently vacated, modified, set aside or reversed.

		e.	Failure of Title Company to assert or fail to assert any cause of action or defense in any judicial, administrative, or other
proceeding either in the interest of itself or any other party or parties.

 

		7.	Title Company shall provide notice of any claim or demand by Seller or Purchaser with respect to the Earnest Money to the other
party.

 

		8.	In the event of any disagreement between Seller and Purchaser, or among them, and any other person, resulting in adverse claims
and demands being made in connection with, or for, any Earnest Money held pursuant to the terms of this Escrow Agreement, Title
Company shall refuse to comply with the claims or demands as long as such disagreement shall continue, and in so refusing, Title
Company shall not deliver or disburse the Earnest Money, and shall not be liable in any way to any person for its failure or refusal
to comply with conflicting or adverse demands. Title Company shall be entitled to continue to refrain from acting and refusing
to act until it receives authorization as follows:

 

a.                 
authorization executed by all parties to the disagreement; or

b.                
a certified or file-stamped copy of a court order resolving the disagreement or directing a specific distribution of all
or any portion of the Earnest Money; or

c.                 
a ruling pursuant to arbitration in accordance with Indiana law resolving the disagreement or directing a specific distribution
of all or any portion of the Earnest Money.

 

Upon receipt of any of the above, Title Company shall
promptly act according to the terms therein and shall be relieved from any duty, responsibility or liability arising from the adverse
claims, demands or from the terms of this Escrow Agreement.

 

		9.	In the event of any disagreement between Seller and Purchaser, or among them and any other person, resulting in adverse claims
and demands being made in connection with the Earnest Money, Title Company may commence an interpleader action and deposit the
Earnest Money with a court of competent jurisdiction and in such event shall be relieved of any and all further liability to Purchaser
and Seller. Purchaser and Seller, shall jointly reimburse Title Company for any and all expense, including reasonable attorneys’
fees and other costs and expenses incurred by Title Company relating to an interpleader action.

 

		10.	Upon completion of the disbursement of Earnest Money, Title Company shall be released and discharged of its escrow obligations
hereunder.

 

		11.	Any notice, demand, or request, consent or approval (“Notice”) shall be given in writing and

    	C-3

    	 

    

directed to Seller, Purchaser and Title Company at
the locations specified below:

 

	If to Purchaser	
        AR Capital, LLC

        405 Park Avenue, 15th Floor

        New York, NY 10022

        Attn: Edward M. Weil, Jr.

        Fax: 212-421-5799

         

        With a copy to:

         

        AR Capital, LLC

        405 Park Avenue, 15th Floor

        New York, NY 10022

        Attn: Jesse C. Galloway

        Fax: 212-421-5799

	 	 
	If to Seller	
        Eli Lilly and Company

        Lilly Corporate Center

        Drop Code 2046

        Indianapolis, IN 46285

        Attn: Stephen L. Van Soelen

        Fax: 317-276-9662

         

	 	
        With a copy to:

         

        ICE MILLER LLP

        One American Square

        Suite 2900

        Indianapolis, IN 46282-0001

        Attn: Zeff Weiss

        Fax: 317-592-4788

         

	If to Title Company	
        Chicago Title Insurance Company

        135 N. Pennsylvania Street

        Ste 710

        Indianapolis, IN 46204

        Attn: Mike Sibbing

        Fax: 317-644-8342

         

Any notice provided for in this agreement shall be
deemed delivered when (i) personally delivered to the addresses set forth above, in which case they shall be deemed delivered on
the date of delivery, (ii) sent by certified mail, return receipt requested, in which case they shall be deemed delivered on the
date shown on the receipt unless delivery is refused or delayed by the addressee in which event they shall be deemed delivered
on the date deposited in the United States Mail, (iii) sent by national overnight courier, in which case they shall be deemed delivered
on the date of delivery unless delivery is refused or delayed

    	C-4

    	 

    

by the addressee in which event they shall be deemed
delivered on the date deposited with the overnight courier, or (iv) sent by facsimile, in which case they shall be deemed delivered
on the date transmitted if confirmation of successful transmission is generated by the sender’s machine by 5:00pm Eastern
Time on a business day and on the following business day if confirmation of successful transmission is generated by the sender's
machine on a non-business day or after 5:00pm Eastern Time.

 

		12.	This agreement shall be governed by the laws of the State of Indiana.

 

		13.	No modification or amendment of this agreement or changes in the terms and conditions hereof shall be effective unless in writing
signed by all parties hereto.

 

		14.	This Escrow Agreement may be executed in multiple counterparts, each of which shall constitute an original, and together shall
constitute the Escrow Agreement.

 

		15.	The parties to this escrow acknowledge that the maintenance of escrow accounts with some depository institutions may result
in Escrow Holder or its affiliates being provided with bank services, accommodations or other benefits by the depository institution.
Escrow Holder or its affiliates also may elect to enter into other business transactions with or obtain loans for investment or
other purposes from the depository institution. All such services, accommodations and other benefits shall accrue to Escrow Holder
or its affiliates, and Escrow Holder or its affiliates shall have no obligation to account to the parties to the escrow for the
value of such services, accommodations or other benefits. 

 

Interest earned is dependent upon the amount of
the deposit, the time of deposit and the prevailing interest rate at the time.

 

Chicago Title Insurance Company is not responsible
for levies by taxing authorities based upon taxpayer identification number used to establish the interest bearing account.

 

 

[SIGNATURE PAGE FOLLOWS]

    	C-5

    	 

    

 

In WITNESS WHEREOF, the parties have executed this Earnest Money
Escrow Agreement as of the date appearing on page one.

 

Eli Lilly and Company,

an Indiana corporation

 

By:                                                                                   

Stephen L. Van Soelen,

Director – Strategic Real Estate &
Facilities Planning

 

AR Capital, LLC,

a Delaware limited liability company

 

By:__________________________________

 

Name:_______________________________

 

Its:__________________________________

 

 

 

Chicago Title Insurance Company

By:__________________________________

Name:_______________________________

Its:__________________________________

 

    	C-6

    	 

    

EXHIBIT D

 

 

 

ROLLS-ROYCE CORPORATION ESTOPPEL CERTIFICATE

 

		TO:	AR Capital, LLC and ARC RRINSIN001, LLC

405 Park Avenue, 15th
Floor

New York, NY 10022

 

 

		Re:	Rolls-Royce Meridian Center – Downtown Indianapolis
(“Property”)

 

 

Gentlemen:

 

The following certifications
are made with the knowledge that AR Capital, LLC and ARC RRINSIN001, LLC ("Purchaser") and its affiliates, any
lender of Purchaser or its affiliates, and their respective successors and assigns, are relying on them, and shall inure to the
benefit of such parties, in connection with the purchase and sale of the Property.

 

The undersigned ("Tenant"),
being the Tenant under the leases referred to in Paragraph 1 below, covering certain premises ("Leased Premises")
at the Property, hereby certifies to the addressees that the following statements are true, correct and complete as of the date
hereof:

 

1.Tenant is the
tenant under that certain Sublease Agreement dated March 1, 2011 with Eli Lilly and Company ("Landlord"), as amended
by that certain Letter Agreement, dated March 1, 2011, as further amended by that certain First Amendment to Sublease, dated March
11, 2013 (the "Sublease"). Tenant is also the tenant under that certain Lease Agreement, dated March 1, 2011,
with Landlord, as amended by that certain First Amendment to Lease, dated March 11, 2013 (the "Lease" and, together
with the Sublease, the "Leases"). The Sublease and the Lease are in full force and effect and have not been modified
except as provided in this Paragraph 1.

 

2.Tenant has accepted
and is presently occupying the Leased Premises, including the Fitness Center Parcel (as defined in the Sublease) as of January
1, 2013. The Leases have not been assigned or encumbered by Tenant and no sublease, concession agreement or license covering the
Leased Premises, or any portion of the Leased Premises, has been entered into by Tenant.

 

3.The Leases commenced
on March 11, 2011 and will expire on December 13, 2022. There are no extension or expansion options under the Leases except for
the Tenant’s two 5-year extension options. Basic Rent in the annual amount of $5,548,144.56 for calendar year 2013 is payable
in monthly installments of $462,345.38 under the Leases. Tenant has paid all Base Rent and Additional Rent through April 30, 2013.

 

    	D-1

    	 

    

 

4.To Tenant’s
knowledge, neither Landlord nor Tenant is in default under the Leases.

 

5.Tenant has no
defenses, setoffs, deductions, credits, or counterclaims against Landlord under the Leases.

 

6.All “Landlord
Offset Payments” (as set forth in Section 19.1 of the Sublease) due to Tenant have been paid in full. The “Tenant Improvement
Allowance” (set forth in Section 19.2 of the Sublease) in the amount of $4,008,775 has been paid in full and Landlord is
not responsible for completing any tenant improvements or alterations under the Leases, except as may be set forth in Section 9.5
of the Sublease and Section 9.5 of the Lease. The present balance of the “Capital Repair Fund” (as defined in Section
9.6 of the Sublease) is $885,000.

 

7.There are no
pending nor, to Tenant's best knowledge, threatened, actions, voluntary or involuntary, against Tenant under federal or state bankruptcy
or insolvency laws.

 

EXECUTED as of the ___ day of April, 2013.

 

	
         

         
	
        TENANT:

         

        ROLLS-ROYCE CORPORATION, a Delaware corporation

	 	 
	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 

 

    	D-2

    	 

    

 

EXHIBIT E

 

FORM OF DEED

 

LIMITED WARRANTY DEED

 

THIS INDENTURE WITNESSETH
that ELI LILLY AND COMPANY, an Indiana corporation ("Grantor"), for and in consideration of TEN AND 00/100 DOLLARS
and other good and valuable consideration, CONVEYS and TRANSFERS to __________ ("Grantee"), that certain real
estate located in Marion County, Indiana and more particularly described in Exhibit A (the “Real Estate”).

 

The preceding conveyance
and transfer is made subject to (1) all real estate taxes and assessments due and payable after the date hereof, which Grantee
by its acceptance hereof agrees to pay, (2) all easements, covenants, conditions, restrictions and other matters of record,
(3) all unrecorded leases, and (4) all matters that would be disclosed by a diligent inspection and/or an accurate survey
of the Real Estate. Except for the preceding matters, Grantor covenants with Grantee to warrant and defend title to the Real Estate
against the lawful claims of all persons claiming by, through or under Grantor, but against none other.

 

 

 

[SIGNATURE ON FOLLOWING PAGE]

 

    	E-1

    	 

    

IN WITNESS WHEREOF, Grantor has executed
this Limited Warranty Deed on the date of notarization below to be effective as of the ___ day of __________ 2013.

 

	 	GRANTOR:
	 	 
	 	ELI LILLY AND COMPANY,
	 	an Indiana corporation
	 	 	 
	 	 	 
	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 

 

STATE OF                     )

                          )  SS:

COUNTY OF                  )

 

Before me, a Notary
Public in and for said County and State, personally appeared _______________________, _______________ of Eli Lilly and Company,
who acknowledged the execution of the foregoing Limited Warranty Deed on behalf of said corporation.

 

Witness my hand and
Notarial Seal this ___ day of __________, 2013.

 

                                                                        

(signature)

 

                                                                         

(printed name)                    Notary Public

 

	My Commission Expires:	 	 	County of Residence:	 	 

 

Send future real estate tax bills to

and Grantee's mailing address is: 

 

I affirm under the penalties of perjury,
that I have taken reasonable care to redact each Social Security Number in this document, unless required by law. Matthew G. DeLaruelle

 

This instrument prepared by: Matthew G.
DeLaruelle, ICE MILLER LLP, One American Square, Suite 2900, Indianapolis, IN 46282.

    	E-2

    	 

    

 

EXHIBIT A

TO

LIMITED WARRANTY DEED

LEGAL DESCRIPTION

 

(Faris I Building)

 

Lots 10, 11, 12 and part of Lots 8,
9, 13, 14, 15 and 16 of Russell's Heirs Subdivision of Out Lot 26 of the Donation Lands of the City of Indianapolis, as per plat
thereof, recorded in Plat Book 2, page 24 in the Office of the Recorder of Marion County, Indiana; also, part of the first alley
West of Meridian Street, lying North of Merrill Street, as vacated per Declaratory Resolution 99-CP-13VAC and recorded as Instrument
#1999-0155155 in the said Recorder's Office, all being more particularly described as follows:

 

Commencing at the Northeast corner of
Lot 1 of Russell's Heirs Subdivision; thence along the East line thereof, also being the West right of way or Meridian Street,
South 00 degrees 00 minutes 00 seconds East (basis of bearings-due North along the center line of Meridian Street) 278.66 feet
to the Point of Beginning; thence continuing along the said West right of way, South 00 degrees 00 minutes 00 seconds East 121.60
feet to the Southeast corner of Lot 12 in said subdivision; thence along the South line of said Lot 12 and the extension thereof,
also being the North right of way of Merrill Street, North 89 degrees 44 minutes 45 seconds West 277.54 feet; thence North 00 degrees
00 minutes 00 seconds East 106.74 feet; thence North 90 degrees 00 minutes 00 seconds East 81.20 feet; thence North 00 degrees
00 minutes 00 seconds East 14.50 feet; thence South 89 degrees 44 minutes 45 seconds East 60.44 feet; thence North 00 degrees 15
minutes 15 seconds East 12.86 feet; thence South 89 degrees 44 minutes 45 seconds East 20.24 feet; thence South 00 degrees 15 minutes
15 seconds West 12.86 feet; thence South 89 degrees 44 minutes 45 seconds East 115.66 feet to the point of beginning.

 

(Faris I Access Parcel)

 

Part of Lots 1 through 9 inclusive of
Russell's Heirs Subdivision of Out Lot 26 of the Donation Lands of the City of Indianapolis, as per plat thereof, recorded in Plat
Book 2, page 24 in the Office of the Recorder of Marion County, Indiana; also, part of vacated Warsaw Street lying between Lots
6 and 7 of said Russell's Heirs Subdivision, vacated per Declaratory Resolution No. D 66-27 and recorded as Instrument #66-62087
in the said Recorder's Office; also, part of the alley lying West of and adjacent to Lot 7 of said Russell's Heirs Subdivision,
as vacated per Declaratory Resolution 99-CP-13VAC and recorded as Instrument #1999-0155155 in the said Recorder's Office, all being
more particularly described as follows:

 

Commencing at the Northeast corner of
Lot 1 of said Russell's Heirs Subdivision; thence along the East line thereof, also being the West right of way of Meridian Street,
South 00 degrees 00 minutes 00 seconds East (basis of bearings - due North along the center line of Meridian Street) 15.00 feet
to the Point of Beginning; thence continuing along the said West right of way, South 00 degrees 00 minutes 00 seconds East 263.66
feet; thence North 89 degrees 44 minutes 45 seconds West 115.66 feet; thence North 00 degrees 15 minutes 15 seconds East 12.86
feet; thence North 89 degrees 44 minutes 45 seconds West 20.24 feet; thence South 00 degrees 15 minutes 15 seconds West 12.86 feet;
thence North 89 degrees 44 minutes 45 seconds West 57.44 feet; thence North 07 degrees 45 

 

    	E-3

    	 

    

minutes 00 seconds East 59.28 feet;
thence North 90 degrees 00 minutes 00 seconds East 41.60 feet; thence North 08 degrees 00 minutes 00 seconds East 130.50 feet;
thence North 90 degrees 00 minutes 00 seconds East 13.20 feet; thence North 00 degrees 00 minutes 00 seconds East 75.13 feet to
a point which bears North 89 degrees 51 minutes 00 seconds West 112.38 feet from the point of beginning; thence South 89 degrees
51 minutes 00 seconds East 112.38 feet to the point of beginning.

 

(Faris II Building)

 

Part of Lots 8 through 16, inclusive,
Lots 17 through 20, inclusive, and part of Lots 21 and 22 in Seidensticker's Subdivision of the East Half of Out Lot No. 15 of
the Donation Lands of the City of Indianapolis, as per plat thereof, recorded in Plat Book 2, page 93 in the Office of the Recorder
of Marion County, Indiana; also a strip of ground 10 feet wide by parallel lines lying East of and adjacent to the East side of
Lots 17 through 20 and that part of Lot 21 in said Seidensticker's Subdivision; also, a part of Mechanic Street vacated per Declaratory
Resolution No. 99-CP-13 VAC recorded as Instrument No. 1999-0155155, all being more particularly described as follows:

 

Commencing at the Southeast corner of
Lot 16 in said subdivision; thence along the South line of said Lot 16, also being the North right of way of Henry Street, North
89 degrees 51 minutes 00 seconds West (basis of bearings-due North along the center line of Meridian Street) 102.50 feet to the
Point of Beginning; thence North 00 degrees 00 minutes 00 seconds East 18.95 feet; thence North 90 degrees 00 minutes 00 seconds
East 14.50 feet; thence North 00 degrees 00 minutes 00 seconds East 28.42 feet; thence North 90 degrees 00 minutes 00 seconds West
14.50 feet; thence North 00 degrees 00 minutes 00 seconds West 33.41 feet; thence North 90 degrees 00 minutes 00 seconds West 7.54
feet; thence North 07 degrees 59 minutes 24 seconds East 145.24 feet; thence North 90 degrees 00 minutes 00 seconds West 113.00
feet; thence North 00 degrees 00 minutes 00 seconds West 52.00 feet; thence North 90 degrees 00 minutes 00 seconds West 36.38 feet
to the West line of Lot 22 in said subdivision; thence along the West line of Lots 22 through 17 in said subdivision, thence South
00 degrees 06 minutes 53 seconds East 276.25 feet to the Southwest corner of said Lot 17; thence along the South line of said Lot
17 and the extension thereof, also being the North right of way of Henry Street, South 89 degrees 51 minutes 00 seconds East 136.18
feet to the point of beginning.

 

(Faris II Access Parcel)

 

Lots 1 through 7, Lots 23 and 24, part
of Lots 8 through 16, and part of Lots 21 and 22, all in Seidensticker's Subdivision of the East Half of Out Lot No. 15 of the
Donation Lands of the City of Indianapolis, as per plat thereof, recorded in Plat Book 2, page 93 in the Office of the Recorder
of Marion County, Indiana; also, a strip of ground 10 feet wide by parallel lines lying East of and adjacent to the East side of
Lots 22 through 24 and that part of Lot 21 in said Seidensticker's Subdivision; also, part of Mechanic Street vacated per Declaratory
Resolution No. 99-CP-13 VAC recorded as Instrument #99-0155155, all being more particularly described as follows:

 

Beginning at the Northeast corner of
Lot 1 in said Seidensticker's Subdivision; thence along the East line thereof, also being the West right of way of Meridian Street,
South 00 degrees 00 minutes 00 seconds East (basis of bearings - due North along the center line of Meridian Street) 400.00 feet
(plat) 400.21 feet (measured) to the Southeast corner of Lot 

 

    	E-4

    	 

    

16 in said subdivision; thence along
the South line of said Lot 16, also being the North right of way of Henry Street, North 89 degrees 51 minutes 00 seconds West 102.50
feet; thence North 00 degrees 00 minutes 00 seconds East 18.95 feet; thence North 90 degrees 00 minutes 00 seconds East 14.50 feet;
thence North 00 degrees 00 minutes 00 seconds East 28.42 feet; thence North 90 degrees 00 minutes 00 seconds West 14.50 feet; thence
North 00 degrees 00 minutes 00 seconds West 33.41 feet; thence North 90 degrees 00 minutes 00 seconds West 7.54 feet; thence North
07 degrees 59 minutes 24 seconds East 142.24 feet; thence North 90 degrees 00 minutes 00 seconds West 113.00 feet; thence North
00 degrees 00 minutes 00 seconds West 52.00 feet; thence North 90 degrees 00 minutes 00 seconds West 36.38 feet to the West line
of Lot 22 in said subdivision; thence along the West line of Lots 22 through 24 in said subdivision, North 00 degrees 06 minutes
53 seconds West 123.56 feet to the Northwest corner of said Lot 24, which lies on the South right of way line of South Street;
thence along said right of way South 89 degrees 56 minutes 46 seconds East 240.00 feet (plat) 239.47 feet (measured) to the point
of beginning.

 

EXCEPTING THEREFROM:

 

Part of that 1.431 acre tract of land
described as “Parcel 4” in the Special Warranty Deed from Kite Henry, LLC to Eli Lilly and Company recorded as Instrument
Number 2002-0251905 in the Office of the Marion County Recorder being described as follows:

 

Beginning at the northeast corner of
Lot 1 in Seidensticker’s Subdivision per plat thereof recorded in Plat Book 2, Page 93; thence South 00 degrees 00 minutes
00 seconds East (basis of bearings is centerline of Meridian Street = North 00 degrees 00 minutes 00 seconds East) along the west
right of way line of Meridian Street a distance of 175.33 feet; thence North 90 degrees 00 minutes 00 seconds West a distance of
89.85 feet to a westerly corner of the tract of land described as Parcel 4 in Instrument number 2002-251905; thence the following
five courses along the westerly and north lines of said tract: 

 

1.North 90 degrees 00
minutes 00 seconds West a distance of 113.00 feet;

 

2.thence North
00 degrees 00 minutes 00 seconds East a distance of 52.00 feet;

 

3.thence North
90 degrees 00 minutes 00 seconds West a distance of 36.38 feet;

 

4.thence North
00 degrees 06 minutes 53 seconds West a distance of 123.56 feet;

 

5.thence South
89 degrees 56 minutes 46 seconds East a distance of 239.47 feet (240.00 feet, plat) to the Point of Beginning. 

 

(Parking Garage and Cafeteria/Conference
Building)

 

Part of Lots 1 through 8, part of Lots
13 through 16, all of Lots 17 through 23, inclusive, and part of Lot 24 of Russell's Heirs Subdivision of Out Lot 26 of the Donation
Lands of the City of Indianapolis, as per plat thereof, recorded in Plat Book 2, page 24 in the Office of the Recorder of Marion
County, Indiana; also, part of the alleys and/or street heretofore vacated lying within the block bounded by Meridian Street, Merrill
Street, Illinois Street, and Henry Street; also, part of Out Lot 26 of the Donation Lands of the City of Indianapolis, more particularly
described as a parcel of ground 192 feet in length from North to South by 60 feet in width from East to West, lying West of and
adjoining the 

 

    	E-5

    	 

    

alley running along the West side of
Lots 1 to 6 and East of and adjoining the alley running along the East side of said Lots 19 to 24, all being more particularly
described as follows:

 

Commencing at the Northeast corner of
Lot 1 of said Russell's Heirs Subdivision; thence along the East line thereof, also being the West right of way of Meridian Street,
South 00 degrees 00 minutes 00 seconds East (basis of bearings-due North along the center line of Meridian Street) 15.00 feet;
thence North 89 degrees 51 minutes 00 seconds West 112.38 feet to the Point of Beginning; thence South 00 degrees 0 minutes 00
seconds West 75.13 feet; thence South 90 degrees 00 minutes 00 seconds West 13.20 feet; thence South 08 degrees 00 minutes 00 seconds
West 130.50 feet; thence South 90 degrees 00 minutes 00 seconds West 41.60 feet; thence South 07 degrees 45 minutes 00 seconds
West 59.28 feet; thence North 89 degrees 44 minutes 45 seconds West 3.00 feet; thence South 00 degrees 00 minutes 00 seconds West
14.50 feet; thence South 90 degrees 00 minutes 00 seconds West 81.20 feet; thence South 00 degrees 00 minutes 00 seconds West 106.74
feet to the South line of Lot 13 in said subdivision; thence along the South line of said Lot 13, also being the North right of
way of Merrill Street, North 89 degrees 44 minutes 45 seconds West 138.53 feet to the Southwest corner of said Lot 13; thence along
the West line of said Lots 13 through 24, also being the East right of way of Illinois Street, North 00 degrees 12 minutes 15 seconds
West 384.51 feet to a point which bears North 89 degrees 51 minutes 00 seconds West 305.05 feet from the point of beginning; thence
South 89 degrees 51 minutes 00 seconds East 305.05 feet to the point of beginning.

 

(Fitness Center and Surrounding Parking)

 

A portion of Out Lot 25 in the City
of Indianapolis, lying north of Merrill Street, east of Meridian Street and west of Madison Avenue and Union Street, and all of
vacated Merrill Street (vacated in Instrument number 99-156437), and a portion of Lots 1, 2, 3, 4, and 5, and all of Lots 6, 8,
9, 10, 11, 12, 13, 14, 15, 16, and 17 and the included vacated alleys, the vacated portion of Norwood Street and a portion of Union
Street in McCarty Heirs’ Subdivision of Out Lots 113 and a part of Lots 1, 2, 3, and 4 in McCarty Heirs’ Subdivision
of Out Lots 114 in the Donation Lands of the City of Indianapolis, as per plat thereof, recorded in Plat Book 2, page 54, in the
Office of the Recorder of Marion County, Indiana; and also a portion of Lot 20 and all of Lots 21, 22, 23, and 24 in Edwin Ray’s
Partition of Out Lot 115 of the Donation Land of the City of Indianapolis, as per plat thereof recorded in Town Lot Record 17,
pages 470 and 471 in said Recorder’s office described as follows: 

 

BEGINNING at the intersection of the
east right-of-way line of Meridian Street and the north right-of-way line of Merrill Street; thence North 00 degrees 07 minutes
56 seconds East 410.17 feet along the east right-of-way line of said Meridian Street; thence South 89 degrees 51 minutes 29 seconds
East 76.07 feet to southwest right-of-way line of Madison Avenue; thence South 19 degrees 57 minutes 19 seconds East 320.88 feet
along said southwest right-of-way line to the intersection of said southwest right-of-way line with the west right-of-way line
of Union Street; thence South 00 degrees 00 minutes 00 seconds East 108.83 feet along said west right-of-way line to the northeast
corner of said vacated Merrill Street (Instrument number 99-156437); thence South 00 degrees 00 minutes 00 seconds East 40.00 feet
to the southeast corner of said vacated Merrill Street; thence South 00 degrees 00 minutes 00 seconds East 20.00 feet along the
west right-of-way line of said Union Street; thence South 89 degrees 51 minutes 29 seconds East 58.52 feet to the west right-of-way
line of the proposed re-alignment of Madison Avenue; 

 

    	E-6

    	 

    

thence along said proposed west right-of-way
line, Southerly 149.80 feet along an arc to the right and having a radius of 556.00 feet and subtended by a long chord having a
bearing of South 07 degrees 32 minutes 52 seconds East and a length of 149.35 feet; thence South 00 degrees 00 minutes 00 seconds
East 431.88 feet along said proposed right-of-way, parallel with the centerline of vacated Union Street, to the north line of the
Lilly Day Care Center Parcel as shown on the certain Land Title Survey prepared by Paul I. Cripe, Inc. under Project No. 98438-30000,
dated May 16, 1999; thence North 89 degrees 38 minutes 53 seconds West 238.90 feet along said north line to the east line of an
alley; thence North 07 degrees 01 minute 04 seconds East 160.01 feet along said east line to the northwest corner of said Lot 24
of Edwin Ray’s Partition of Out Lot 115; thence South 89 degrees 38 minutes 53 seconds East 11.87 feet along the north line
of said Lot 24; thence North 00 degrees 21 minutes 07 seconds East 40.00 feet to the southwest corner of said Lot 6 in McCarty
Heirs’ Subdivision of Out Lot 113; thence North 00 degrees 00 minutes 00 seconds East 45.50 feet along the west line of said
Lot 6 to the northwest corner of said Lot 6; thence North 89 degrees 38 minutes 53 seconds West 142.41 feet along the south line
of said Lot 8 in McCarty Heirs’ Subdivision of Out Lot 113 to the southeast right-of-way line of Meridian Street; thence
North 13 degrees 49 minutes 07 seconds East 364.50 feet to the southwest corner of said vacated Merrill Street (Instrument number
99-156437); thence North 03 degrees 00 minutes 12 seconds West 40.06 feet to the northwest corner of said vacated Merrill Street
and the POINT OF BEGINNING and containing 5.222 acres, more or less. The bearings in this description are based upon the centerline
of vacated Union Street having a bearing of South 00 degrees 00 minutes 00 seconds East.

 

EXCEPTING THEREFROM:

 

A portion of Out Lot 25 in the City
of Indianapolis, lying north of Merrill Street, east of Meridian Street and west of Madison Avenue and Union Street, and all of
vacated Merrill Street (vacated in Instrument number 99-156437), and a portion of Lots 14, 15, 16, and 17 and the included vacated
alleys in McCarty Heirs' Subdivision of Out Lots 113 in the Donation Lands of the City of Indianapolis, as per plat thereof, recorded
in Plat Book 2, page 54, in the Office of the Recorder of Marion County, Indiana described as follows: 

 

BEGINNING at the intersection of the
east right-of-way line of Meridian Street and the north right-of-way line of Merrill Street; thence North 00 degrees 07 minutes
56 seconds East 410.17 feet along the east right-of-way line of said Meridian Street; thence South 89 degrees 51 minutes 29 seconds
East 76.07 feet to southwest right-of-way line of Madison Avenue; thence South 19 degrees 57 minutes 19 seconds East 320.88 feet
along said southwest right-of-way line to the intersection of said southwest right-of-way line with the west right-of-way line
of Union Street; thence South 00 degrees 00 minutes 00 seconds East 108.83 feet along said west right-of-way line to the northeast
comer of said vacated Merrill Street (Instrument number 99-156437); thence South 00 degrees 00 minutes 00 seconds East 40.00 feet
to the southeast corner of said vacated Merrill Street; thence South 00 degrees 00 minutes 00 seconds East 12.36 feet along the
west right-of-way line of said Union Street; thence South 89 degrees 46 minutes 40 seconds West 100.67 feet; thence South 00 degrees
27 minutes 40 seconds West 33.53 feet; thence North 88 degrees 56 minutes 26 seconds West 16.35 feet; thence South 00 degrees 49
minutes 49 seconds East 146.66 feet to the face of curb on the north side of the Lilly Recreational Center; thence North 89 degrees
50 minutes 51 seconds West along said face of curb a distance of 80.97 feet to the east end of a brick retaining wall; thence North
01 degrees 17 minutes 51 seconds East along the east face of said brick retaining wall a 

 

    	E-7

    	 

    

distance of 1.32 feet; thence North
89 degrees 32 minutes 14 seconds West along the north face of said brick retaining wall a distance of 35.37 feet to the southeast
right-of-way line of Meridian Street; thence North 13 degrees 49 minutes 07 seconds East 196.95 feet to the southwest corner of
said vacated Merrill Street (Instrument number 99-156437); thence North 03 degrees 00 minutes 12 seconds West 40.06 feet to the
northwest corner of said vacated Merrill Street and the POINT OF BEGINNING. The bearings in this description are based upon the
centerline of vacated Union Street having a bearing of South 00 degrees 00 minutes 00 seconds East.

 

 

    	E-8

    	 

    

EXHIBIT F

 

BILL OF SALE

 

KNOW ALL MEN BY THESE
PRESENTS, that ELI LILLY AND COMPANY, an Indiana corporation ("Seller"), in consideration of Ten and 00/00 Dollars
($10.00), the receipt and sufficiency of which are hereby acknowledged, does hereby sell, assign, transfer, quit claim and set
over unto __________________________________ ("Purchaser"), all items of décor, furniture, equipment and
other personal property owned by Seller and located on the real estate legally described on Exhibit A attached hereto on the date
hereof (the "Personal Property").

 

TO HAVE AND TO HOLD
the Personal Property unto Purchaser and Purchaser's legal representatives, successors and assigns forever.

 

This Bill of Sale is
delivered pursuant to that certain Agreement of Purchase and Sale dated __________ ___, 2013 between Assignor, as seller, and Select
Income REIT, as purchaser, as assigned to Assignee [and as amended by — Add Description of Amendments, if any] (the "Purchase
Agreement"), and is subject to all of the terms and conditions thereof, including without limitation Section 7 thereof.

 

Seller represents and
warrants to Purchaser that the Personal Property is free of any liens or encumbrances in favor of anyone claiming by, through or
under Seller other than (i) matters of record, and (ii) the rights of tenants pursuant to the Leases (as defined in the Purchase
Agreement).

 

THE PERSONAL PROPERTY
SOLD HEREUNDER IS SOLD IN ITS "AS IS", "WHERE IS" CONDITION WITHOUT ANY REPRESENTATION OR WARRANTY BY SELLER
EXCEPT AS EXPRESSLY SET FORTH ABOVE AND SELLER HEREBY EXPRESSLY DISCLAIMS ANY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR
PURPOSE AND NON-INFRINGEMENT.

 

IN WITNESS WHEREOF,
Seller has executed this Bill of Sale as of the _____ day of ________________, 2013.

 

	 	
        SELLER:

         

        ELI LILLY AND COMPANY,

        an Indiana corporation

         

	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 

 

 

 

    	F-1

    	 

    

EXHIBIT G

 

ASSIGNMENT AND ASSUMPTION OF LEASES

 

FOR AND IN CONSIDERATION
of the sum of Ten Dollars ($10.00) and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Eli Lilly and Company, an Indiana corporation ("Assignor"), hereby sells, transfers, assigns, delegates
and sets over unto _________________________________("Assignee"), its legal representatives, successors and assigns,
all of Assignor's rights, title, interests, duties, obligations and liabilities in, to and under those certain leases and other
leasing agreements referred to on Exhibit A attached hereto (the "Leases"). Notwithstanding
the foregoing, Assignor shall retain its rights as Landlord under that certain Sublease Agreement, dated March 1, 2011, by and
between Assignor and Rolls-Royce Corporation, as Tenant, as amended by that certain First Amendment to Sublease Agreement, dated
March 11, 2013 with respect to the obligations of Tenant accruing prior to said First Amendment and relating to the property removed
by said First Amendment, which obligations survive pursuant to Section 3 of said First Amendment, and such rights are not assigned
to Assignee.

 

Assignee does hereby
accept the foregoing assignment of the Leases, and does hereby assume and agree to perform, fulfill and observe all of the duties,
obligations and liabilities to be performed, fulfilled or observed by the landlord/lessor/owner under the Leases, as if Assignee
was the original landlord under the Leases.

 

This Assignment and
Assumption of Leases is delivered pursuant to that certain Agreement of Purchase and Sale dated __________ ___, 2013 between Assignor,
as seller, and __________, as purchaser, as assigned to Assignee [and as amended by — Add Description of Amendments, if any],
and is subject to all of the terms and conditions thereof, including without limitation Section 7 thereof.

 

This Assignment and
Assumption of Leases shall be binding on and shall inure to the benefit of Assignor and Assignee and their respective legal representatives,
heirs, successors and assigns.

 

This Assignment and
Assumption of Leases may be executed in counterparts, and as so executed shall constitute one and the same agreement.

 

IN WITNESS WHEREOF,
the parties hereto have executed this Assignment and Assumption of Leases as of the ____ day of ___________, 2013.

 

 

 

[SIGNATURE PAGE FOLLOWS]

 

    	G-1

    	 

    

SIGNATURE PAGE

 

TO

 

ASSIGNMENT AND ASSUMPTION OF LEASES

 

	 	
        ASSIGNOR:

         

        ELI LILLY AND COMPANY,

        an Indiana corporation

         

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	
        ASSIGNEE:

          

	 	By:	 
	 	 	 
	 	Its:	 

 

 

    	G-2

    	 

    

EXHIBIT H

 

ASSIGNMENT AND ASSUMPTION OF PERMITS
AND WARRANTIES

 

FOR AND IN CONSIDERATION
of the sum of Ten Dollars ($10.00) and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, ELI LILLY AND COMPANY, an Indiana corporation ("Assignor"), hereby sells, transfers, assigns, delegates
and sets over unto _________________ ("Assignee"), its legal representatives, successors and assigns, without
recourse or warranty whatsoever, to the extent assignable without the consent of third parties, all of Assignor’s rights,
title, interests, duties, obligations and liabilities under or with respect to the "Permits" and the "Warranties",
as such terms are defined in that certain Agreement of Purchase and Sale dated __________ ___, 2013 between Assignor, as seller,
and Select Income REIT, as purchaser, as assigned to Assignee [and as amended by — Add Description of Amendments, if any]
(the "Purchase Agreement").

 

Assignee does hereby
accept the foregoing assignment of the Permits and the Warranties and does hereby assume and agree to perform, fulfill and observe
all of the duties, obligations and liabilities to be performed, fulfilled or observed by the owner of the Property (as defined
in the Purchase Agreement) under or with respect to the Permits and the Warranties as if Assignee was the original named party
under the Permits and the Warranties.

 

This Assignment and
Assumption of Permits and Warranties is delivered subject to all of the terms and conditions of the Purchase Agreement, including
without limitation Section 7 thereof.

 

This Assignment and
Assumption of Permits and Warranties shall be binding on and shall inure to the benefit of Assignor and Assignee and their respective
legal representatives, heirs, successors and assigns.

 

This Assignment and
Assumption of Permits and Warranties may be executed in counterparts, and as so executed shall constitute one and the same agreement.

 

IN WITNESS WHEREOF,
the parties hereto have executed this Assignment and Assumption of Permits and Warranties as of the ____ day of ____________, 2013.

 

	 	
        ASSIGNOR:

         

ELI LILLY AND COMPANY,

        an Indiana corporation

         

	 	By:	 
	 	Name:	 
	 	Title:	 
	 	
        ASSIGNEE:

         

	 	By:	 
	 	 	 
	 	Its:	 

 

 

    	H-1

    	 

    

EXHIBIT I

 

Form of Notice to Tenants regarding Transfer
of Property

 

____________, 2013

VIA FEDERAL EXPRESS

[Tenant]

 

Re:[NAME OF PROPERTY]

 

Dear [Tenant]:

 

You are hereby advised that the above-referenced
property in which you are a tenant was sold by Eli Lilly and Company ("Seller") to ______________ ("New Owner")
and your lease was assigned and transferred effective as the date of this letter to New Owner, whose address is set forth below.
Your security deposit, if any, has been transferred to New Owner. [FOR ROLLS-ROYCE NOTICE: The Capital Repair Fund (as defined
in the Sublease) in the amount of $________________________, has been transferred to New Owner.] The above referenced property
will be managed by [MANAGEMENT COMPANY] and all checks for rent and other charges should be made payable to New Owner and forwarded
to:

 

In accordance with the terms of your lease,
copies of all future notices to landlord should be sent to:

 

[PURCHASER]

 

If you have any questions or need any additional
information, please feel free to contact __________ at [Telephone Number].

 

 

	 	Sincerely,
	 	 
	 	
        SELLER:

         

        ELI LILLY AND COMPANY,

        an Indiana corporation

         

	 	By:	 
	 	Name:	 
	 	Title:	 
	 	
        NEW OWNER:

         

	 	By:	 
	 	 	 
	 	Its:	 

 

 

    	I-1

    	 

    

EXHIBIT J

 

PARTIAL ASSIGNMENT OF PARKING AGREEMENT

 

This PARTIAL ASSIGNMENT
OF PARKING AGREEMENT (this "Agreement") is made and entered into as of the ___ day of __________, 2013 ("Effective
Date"), by and between ELI LILLY AND COMPANY, an Indiana corporation ("Assignor"), and __________, a
__________ ("Assignee").

 

RECITALS

 

A.Assignor entered
into that certain Parking Agreement, dated March 1, 2011 (the "Parking Agreement"), by and among the City of Indianapolis
Department of Metropolitan Development, on behalf of the Metropolitan Development Commission of Marion County, Indiana, acting
as the redevelopment commission of the City of Indianapolis, Indiana, under Indiana Code §36-7-15.1, for and on behalf of
the redevelopment district referred to in Indiana Code §36-3-1-6(c)(3) ("DMD"), Assignor and Rolls-Royce
Corporation, a Delaware corporation ("Rolls-Royce"); and

 

B.Contemporaneously
herewith, Assignor is selling to Assignee a portion of the Faris Property (this and all other capitalized terms used herein and
not otherwise defined shall have the meanings ascribed to them in the Parking Agreement) consisting of (i) the Faris II Building,
(ii) the Cafeteria-Conference Building and Parking Garage, (iii) the Faris I Building, (iv) the Fitness Center, (v) the South Parking
Lot, all as depicted on Exhibit A to the Parking Agreement and Exhibit A attached hereto, and (vi) that portion of the North
Parking Lot depicted on Exhibit A to the Parking Agreement that is shown as the North Parking Lot on Exhibit A attached
hereto (collectively, the "Transferred Property").

 

C.Contemporaneously
herewith, Assignor is assigning all of its right, title and interest in and to the Faris Property Lease, as amended, to Assignee.

 

D.Assignor is retaining
ownership of that portion of the Faris Property consisting of (i) the Brougher Premises and the Pennsylvania Parking Lot depicted
on Exhibit A of the Parking Agreement, and (ii) that portion of the North Parking Lot depicted on Exhibit A to the Parking Agreement
that is shown as the Brougher Parking Lot on Exhibit A attached hereto (collectively, the "Retained Property").

 

E. Assignor desires
to assign its rights and obligations under the Parking Agreement with respect to the Transferred Property to Assignee and Assignee
desires to assume said rights and obligations pursuant to the terms and conditions of this Agreement.

 

NOW, THEREFORE, in
consideration of the mutual agreements contained herein and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto agree as follows:

    	J-1

    	 

    

 

 

1.Assignment. Assignor hereby
transfers, conveys and assigns to Assignee all of Assignor's rights, duties, obligations and liabilities with respect to the Transferred
Property under the Parking Agreement.

 

2.Assumption. Assignee does
hereby accept the foregoing assignment and does hereby assume and agree to perform, fulfill and observe all of the duties, obligations
and liabilities to be performed, fulfilled or observed by Assignor under the Parking Agreement with respect to the Transferred
Property on or after the Effective Date.

 

3.Acknowledgement. For the
benefit of Rolls-Royce and DMD, (i) Assignee hereby acknowledges its obligations as successor landlord under the Faris Property
Lease and hereby acknowledges the continuing rights of DMD with respect to the Faris Parking Facilities located on the Transferred
Property; and (ii) Assignor hereby acknowledges the continuing rights of DMD with respect to the Faris Parking Facilities located
on the Retained Property.

 

4.Indemnification. Assignee
shall indemnify, defend and hold Assignor harmless from and against any and all liability, cost and expense, including, without
limitation, reasonable attorneys' fees, arising out of or in connection with the duties, obligations and liabilities to be performed,
fulfilled or observed by "Lilly" with respect to the Transferred Property under the Parking Agreement on or after the
Effective Date. Assignor shall indemnify, defend and hold Assignee harmless from and against any and all liability, cost and expense,
including without limitation reasonable attorneys' fees, arising out of or in connection with the duties, obligations or liabilities
to be performed, fulfilled or observed by "Lilly" under the Parking Agreement (a) prior to the Effective Date, and (b)
with respect to the Retained Property, on or after the Effective Date.

 

5.Successors and Assigns.
This Assignment and Assumption of Leases shall be binding on and shall inure to the benefit of Assignor and Assignee and their
respective legal representatives, heirs, successors and assigns.

 

6.Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original and all of which shall constitute
one instrument.

 

 

 

[Signatures on the Following Page]

 

    	J-2

    	 

    

 

 

IN WITNESS WHEREOF,
the parties have caused this Agreement to be duly executed as of the Effective Date.

 

 "ASSIGNOR"

 

 ELI LILLY AND COMPANY, an Indiana corporation

	 	
        

         

	 	 	 
	 	By:	 
	 	 	 
	 	Name: 	 
	 	 	 
	 	Title: 	 

 

 "ASSIGNEE"

 

 ____________________, a __________

	 	
        

         

			
	 	By:	 
	 	 	 
	 	Name: 	 
	 	 	 
	 	Title: 	 

    	J-3

    	 

    

CONSENT

TO

PARTIAL ASSIGNMENT OF PARKING AGREEMENT

 

DMD and Rolls-Royce hereby consent to the
foregoing Partial Assignment of Parking Agreement and agree as follows:

 

1.As used in Section 5 of the Parking
Agreement, "Lilly" shall mean Assignee. As used in Sections 6(a) and 6(b) of the Parking Agreement, "Lilly"
shall mean both Assignor and Assignee. As used in every other section of the Parking Agreement, "Lilly" shall mean Assignor
and/or Assignee, as applicable.

 

2.DMD agrees to provide to Assignor
and Assignee copies of Event Schedules pursuant to Section 5(b)(i) and 5(b)(ii) of the Parking Agreement and notices given to Rolls-Royce
under clause (A) of the second sentence of Section 5(b)(iii) of the Parking Agreement; provided that Assignor’s and Assignee’s
sole remedy for a breach of this Section by DMD shall be specific performance.

 

3.Assignor may assign all of its rights
and obligations under the Parking Agreement with respect to all or any portion of the Retained Property (the “Retained Property
Portion”) to a party that: (i) purchases such Retained Property Portion; and (ii) provides to DMD and Rolls-Royce a written
acknowledgment of the continuing rights of DMD hereunder with respect to such Retained Property Portion.

 

4.Assignee may assign all of its rights
and obligations under the Parking Agreement to a party that: (i) purchases the Transferred Property; (ii) acknowledges its obligations
as successor landlord under the Faris Property Lease; and (iii) provides to DMD and Rolls-Royce a written acknowledgment of the
continuing rights of DMD hereunder with respect to the Transferred Property.

 

5.Assignee's address for notices under
the Parking Agreement is:

 

405 Park Avenue, 15th Floor

New York, NY 10022

Attn:

 

With a copy to:

 

 

[SIGNATURE PAGE FOLLOWS]

    	J-4

    	 

    

IN WITNESS WHEREOF, DMD and Rolls-Royce
have caused the foregoing Consent to Partial Assignment of Parking Agreement to be duly executed as of the date first written above.

 

CITY OF INDIANAPOLIS DEPARTMENT OF METROPOLITAN
DEVELOPMENT, on behalf of the Metropolitan Development Commission of Marion County, Indiana, acting as the redevelopment commission
of the City of Indianapolis, Indiana, under Indiana Code §36-7-15.1, for and on behalf of the redevelopment district referred
to in Indiana Code §36-3-1-6(c)(3)

 

	By:	 
	 	 
	Printed:	 
	 	 
	Title:	 

 

ROLLS-ROYCE CORPORATION

 

	By:	 
	 	 
	Printed:	 
	 	 
	Title:	 

    	J-5

    	 

    

Exhibit A

	
         

 

 

    	J-6

    	 

    

EXHIBIT K

 

PARTIAL ASSIGNMENT OF CITY MAINTENANCE
AGREEMENT

 

PARTIAL ASSIGNMENT OF AGREEMENT

 

This PARTIAL ASSIGNMENT
OF AGREEMENT (this "Assignment") is made and entered into as of the ___ day of December, 2013 ("Effective
Date"), by and between ELI LILLY AND COMPANY, an Indiana corporation ("Assignor"), and __________, a __________
("Assignee").

 

RECITALS

 

A.Assignor entered into that certain
Agreement, dated October 18, 2000, with the Consolidated City of Indianapolis, Marion County, Indiana Department of Capital Asset
Management (as amended by that certain First Amendment to Agreement, dated October 25, 2001, executed by Assignor and Consolidated
City of Indianapolis, Marion County, Indiana, Department of Public Works, the "Agreement"); and

 

B.Contemporaneously herewith, Assignor
is selling to Assignee certain real estate located within the Project Area (as defined in the Agreement), which real estate is
legally described on Exhibit A attached hereto (collectively, the "Transferred Property").

 

E. In connection
with the sale of the Transferred Property, Assignor desires to assign certain obligations under the Agreement to Assignee and Assignee
desires to assume such obligations pursuant to the terms and conditions of this Assignment.

 

NOW, THEREFORE, in
consideration of the mutual agreements contained herein and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto agree as follows:

 

1.Assignment. Assignor hereby
assigns to Assignee all of Assignor's duties, obligations and liabilities under Section 3 of the Agreement as the same relate to
(i) the Transferred Property, (ii) the parcel depicted on Exhibit B attached hereto (the "Pedestrian Mall Parcel"),
and (iii) any public streets and walkways adjoining the Transferred Property or the Pedestrian Mall Parcel (collectively, the "Assigned
Obligations").

 

2.Assumption. Assignee does
hereby accept the foregoing assignment and does hereby assume the Assigned Obligations.

 

3.Indemnification. Assignee
shall indemnify, defend and hold Assignor harmless from and against any and all liability, cost and expense, including without
limitation reasonable attorneys' fees, arising out of or in connection with the Assigned Obligations to be performed, fulfilled
or observed by "Lilly" under the Agreement on or after the Effective Date. Assignor shall indemnify, defend and hold
Assignee harmless from and against any and all liability, cost and expense, including without limitation reasonable attorneys'
fees, arising out of or in

    	K-1

    	 

    

connection with the Assigned Obligations
to be performed, fulfilled or observed by "Lilly" under the Agreement prior to the Effective Date.

 

4.Successor and Assigns.
This Assignment shall be binding on and shall inure to the benefit of Assignor and Assignee and their respective legal representatives,
heirs, successors and assigns.

 

5.Counterparts.
This Assignment may be executed in two or more counterparts, each of which shall be deemed an original and all of which shall constitute
one instrument.

 

 

[Signatures on the Following Page]

 

    	K-2

    	 

    

IN WITNESS WHEREOF, the parties have caused
this Assignment to be duly executed as of the Effective Date.

 

"ASSIGNOR"

 

ELI LILLY AND COMPANY, an Indiana corporation

 

	By:  	 
	 	 
	Name:	 
	 	 
	Title:	 

 

"ASSIGNEE"

 

____________________, a __________

 

	By:  	 
	 	 
	Name:	 
	 	 
	Title:	 

    	K-3

    	 

    

Exhibit A

 

Legal Description of the Transferred
Property

 

(Faris I Building)

 

Lots 10, 11, 12 and part of Lots 8,
9, 13, 14, 15 and 16 of Russell's Heirs Subdivision of Out Lot 26 of the Donation Lands of the City of Indianapolis, as per plat
thereof, recorded in Plat Book 2, page 24 in the Office of the Recorder of Marion County, Indiana; also, part of the first alley
West of Meridian Street, lying North of Merrill Street, as vacated per Declaratory Resolution 99-CP-13VAC and recorded as Instrument
#1999-0155155 in the said Recorder's Office, all being more particularly described as follows:

 

Commencing at the Northeast corner of
Lot 1 of Russell's Heirs Subdivision; thence along the East line thereof, also being the West right of way of Meridian Street,
South 00 degrees 00 minutes 00 seconds East (basis of bearings - due North along the center line of Meridian Street) 278.66 feet
to the Point of Beginning; thence continuing along the said West right of way, South 00 degrees 00 minutes 00 seconds East 121.60
feet to the Southeast corner of Lot 12 in said subdivision; thence along the South line of said Lot 12 and the extension thereof,
also being the North right of way of Merrill Street, North 89 degrees 44 minutes 45 seconds West 277.54 feet; thence North 00 degrees
00 minutes 00 seconds East 106.74 feet; thence North 90 degrees 00 minutes 00 seconds East 81.20 feet; thence North 00 degrees
00 minutes 00 seconds East 14.50 feet; thence South 89 degrees 44 minutes 45 seconds East 60.44 feet; thence North 00 degrees 15
minutes 15 seconds East 12.86 feet; thence South 89 degrees 44 minutes 45 seconds East 20.24 feet; thence South 00 degrees 15 minutes
15 seconds West 12.86 feet; thence South 89 degrees 44 minutes 45 seconds East 115.66 feet to the point of beginning.

 

(Faris I Access Parcel)

 

Part of Lots 1 through 9 inclusive of
Russell's Heirs Subdivision of Out Lot 26 of the Donation Lands of the City of Indianapolis, as per plat thereof, recorded in Plat
Book 2, page 24 in the Office of the Recorder of Marion County, Indiana; also, part of vacated Warsaw Street lying between Lots
6 and 7 of said Russell's Heirs Subdivision, vacated per Declaratory Resolution No. D 66-27 and recorded as Instrument #66-62087
in the said Recorder's Office; also, part of the alley lying West of and adjacent to Lot 7 of said Russell's Heirs Subdivision,
as vacated per Declaratory Resolution 99-CP-13VAC and recorded as Instrument #1999-0155155 in the said Recorder's Office, all being
more particularly described as follows:

 

Commencing at the Northeast corner of
Lot 1 of said Russell's Heirs Subdivision; thence along the East line thereof, also being the West right of way of Meridian Street,
South 00 degrees 00 minutes 00 seconds East (basis of bearings - due North along the center line of Meridian Street) 15.00 feet
to the Point of Beginning; thence continuing along the said West right of way, South 00 degrees 00 minutes 00 seconds East 263.66
feet; thence North 89 degrees 44 minutes 45 seconds West 115.66 feet; thence North 00 degrees 15 minutes 15 seconds East 12.86
feet; thence North 89 degrees 44 minutes 45 seconds West 20.24 feet; thence South 00 degrees 15 minutes 15 seconds West 12.86 feet;
thence North 89 degrees 44 minutes 45 seconds West 57.44 feet; thence North 07 degrees 45 minutes 00 seconds East 59.28 feet; thence
North 90 degrees 00 minutes 00 seconds East 41.60 feet; thence North 08 degrees 00 minutes 00 seconds East 130.50 feet; thence

  

    	K-4

    	 

    

North 90 degrees 00 minutes 00 seconds
East 13.20 feet; thence North 00 degrees 00 minutes 00 seconds East 75.13 feet to a point which bears North 89 degrees 51 minutes
00 seconds West 112.38 feet from the point of beginning; thence South 89 degrees 51 minutes 00 seconds East 112.38 feet to the
point of beginning.

 

(Faris II Building)

 

Part of Lots 8 through 16, inclusive,
Lots 17 through 20, inclusive, and part of Lots 21 and 22 in Seidensticker's Subdivision of the East Half of Out Lot No. 15 of
the Donation Lands of the City of Indianapolis, as per plat thereof, recorded in Plat Book 2, page 93 in the Office of the Recorder
of Marion County, Indiana; also a strip of ground 10 feet wide by parallel lines lying East of and adjacent to the East side of
Lots 17 through 20 and that part of Lot 21 in said Seidensticker's Subdivision; also, a part of Mechanic Street vacated per Declaratory
Resolution No. 99-CP-13 VAC recorded as Instrument No. 1999-0155155, all being more particularly described as follows:

 

Commencing at the Southeast corner of
Lot 16 in said subdivision; thence along the South line of said Lot 16, also being the North right of way of Henry Street, North
89 degrees 51 minutes 00 seconds West (basis of bearings - due North along the center line of Meridian Street) 102.50 feet to the
Point of Beginning; thence North 00 degrees 00 minutes 00 seconds East 18.95 feet; thence North 90 degrees 00 minutes 00 seconds
East 14.50 feet; thence North 00 degrees 00 minutes 00 seconds East 28.42 feet; thence North 90 degrees 00 minutes 00 seconds West
14.50 feet; thence North 00 degrees 00 minutes 00 seconds West 33.41 feet; thence North 90 degrees 00 minutes 00 seconds West 7.54
feet; thence North 07 degrees 59 minutes 24 seconds East 145.24 feet; thence North 90 degrees 00 minutes 00 seconds West 113.00
feet; thence North 00 degrees 00 minutes 00 seconds West 52.00 feet; thence North 90 degrees 00 minutes 00 seconds West 36.38 feet
to the West line of Lot 22 in said subdivision; thence along the West line of Lots 22 through 17 in said subdivision, thence South
00 degrees 06 minutes 53 seconds East 276.25 feet to the Southwest corner of said Lot 17; thence along the South line of said Lot
17 and the extension thereof, also being the North right of way of Henry Street, South 89 degrees 51 minutes 00 seconds East 136.18
feet to the point of beginning.

 

(Faris II Access Parcel)

 

Lots 1 through 7, Lots 23 and 24, part
of Lots 8 through 16, and part of Lots 21 and 22, all in Seidensticker's Subdivision of the East Half of Out Lot No. 15 of the
Donation Lands of the City of Indianapolis, as per plat thereof, recorded in Plat Book 2, page 93 in the Office of the Recorder
of Marion County, Indiana; also, a strip of ground 10 feet wide by parallel lines lying East of and adjacent to the East side of
Lots 22 through 24 and that part of Lot 21 in said Seidensticker's Subdivision; also, part of Mechanic Street vacated per Declaratory
Resolution No. 99-CP-13 VAC recorded as Instrument #99-0155155, all being more particularly described as follows:

 

Beginning at the Northeast corner of
Lot 1 in said Seidensticker's Subdivision; thence along the East line thereof, also being the West right of way of Meridian Street,
South 00 degrees 00 minutes 00 seconds East (basis of bearings - due North along the center line of Meridian Street) 400.00 feet
(plat) 400.21 feet (measured) to the Southeast corner of Lot 16 in said subdivision; thence along the South line of said Lot 16,
also being the North right of way of Henry Street, North 89 degrees 51 minutes 00 seconds West 102.50 feet; 

 

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thence North 00 degrees 00 minutes 00
seconds East 18.95 feet; thence North 90 degrees 00 minutes 00 seconds East 14.50 feet; thence North 00 degrees 00 minutes 00 seconds
East 28.42 feet; thence North 90 degrees 00 minutes 00 seconds West 14.50 feet; thence North 00 degrees 00 minutes 00 seconds West
33.41 feet; thence North 90 degrees 00 minutes 00 seconds West 7.54 feet; thence North 07 degrees 59 minutes 24 seconds East 142.24
feet; thence North 90 degrees 00 minutes 00 seconds West 113.00 feet; thence North 00 degrees 00 minutes 00 seconds West 52.00
feet; thence North 90 degrees 00 minutes 00 seconds West 36.38 feet to the West line of Lot 22 in said subdivision; thence along
the West line of Lots 22 through 24 in said subdivision, North 00 degrees 06 minutes 53 seconds West 123.56 feet to the Northwest
corner of said Lot 24, which lies on the South right of way line of South Street; thence along said right of way South 89 degrees
56 minutes 46 seconds East 240.00 feet (plat) 239.47 feet (measured) to the point of beginning.

 

EXCEPTING THEREFROM:

 

Part of that 1.431 acre tract of land
described as “Parcel 4” in the Special Warranty Deed from Kite Henry, LLC to Eli Lilly and Company recorded as Instrument
Number 2002-0251905 in the Office of the Marion County Recorder being described as follows:

 

Beginning at the northeast corner of
Lot 1 in Seidensticker’s Subdivision per plat thereof recorded in Plat Book 2, Page 93; thence South 00 degrees 00 minutes
00 seconds East (basis of bearings is centerline of Meridian Street = North 00 degrees 00 minutes 00 seconds East) along the west
right of way line of Meridian Street a distance of 175.33 feet; thence North 90 degrees 00 minutes 00 seconds West a distance of
89.85 feet to a westerly corner of the tract of land described as Parcel 4 in Instrument number 2002-251905; thence the following
five courses along the westerly and north lines of said tract: 

 

1.North 90 degrees 00
minutes 00 seconds West a distance of 113.00 feet;

 

2.thence North
00 degrees 00 minutes 00 seconds East a distance of 52.00 feet;

 

3.thence North
90 degrees 00 minutes 00 seconds West a distance of 36.38 feet;

 

4.thence North
00 degrees 06 minutes 53 seconds West a distance of 123.56 feet;

 

5.thence South
89 degrees 56 minutes 46 seconds East a distance of 239.47 feet (240.00 feet, plat) to the Point of Beginning. 

 

(Parking Garage and Cafeteria/Conference
Building)

 

Part of Lots 1 through 8, part of Lots
13 through 16, all of Lots 17 through 23, inclusive, and part of Lot 24 of Russell's Heirs Subdivision of Out Lot 26 of the Donation
Lands of the City of Indianapolis, as per plat thereof, recorded in Plat Book 2, page 24 in the Office of the Recorder of Marion
County, Indiana; also, part of the alleys and/or streets heretofore vacated lying within the block bounded by Meridian Street,
Merrill Street, Illinois Street, and Henry Street; also, part of Out Lot 26 of the Donation Lands of the City of Indianapolis,
more particularly described as a parcel of ground 192 feet in length from North to South by 60 feet in width from East to West,
lying West of and adjoining the alley running along the West side of Lots 1 to 6 and East of and adjoining the alley 

 

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running along the East side of said
Lots 19 to 24, all being more particularly described as follows:

 

Commencing at the Northeast corner of
Lot 1 of said Russell's Heirs Subdivision; thence along the East line thereof, also being the West right of way of Meridian Street,
South 00 degrees 00 minutes 00 seconds East (basis of bearings - due North along the center line of Meridian Street) 15.00 feet;
thence North 89 degrees 51 minutes 00 seconds West 112.38 feet to the Point of Beginning; thence South 00 degrees 00 minutes 00
seconds West 75.13 feet; thence South 90 degrees 00 minutes 00 seconds West 13.20 feet; thence South 08 degrees 00 minutes 00 seconds
West 130.50 feet; thence South 90 degrees 00 minutes 00 seconds West 41.60 feet; thence South 07 degrees 45 minutes 00 seconds
West 59.28 feet; thence North 89 degrees 44 minutes 45 seconds West 3.00 feet; thence South 00 degrees 00 minutes 00 seconds West
14.50 feet; thence South 90 degrees 00 minutes 00 seconds West 81.20 feet; thence South 00 degrees 00 minutes 00 seconds West 106.74
feet to the South line of Lot 13 in said subdivision; thence along the South line of said Lot 13, also being the North right of
way of Merrill Street, North 89 degrees 44 minutes 45 seconds West 138.53 feet to the Southwest corner of said Lot 13; thence along
the West line of said Lots 13 through 24, also being the East right of way of Illinois Street, North 00 degrees 12 minutes 15 seconds
West 384.51 feet to a point which bears North 89 degrees 51 minutes 00 seconds West 305.05 feet from the point of beginning; thence
South 89 degrees 51 minutes 00 seconds East 305.05 feet to the point of beginning.

 

(Fitness Center and Surrounding Parking)

 

A portion of Out Lot 25 in the City
of Indianapolis, lying north of Merrill Street, east of Meridian Street and west of Madison Avenue and Union Street, and all of
vacated Merrill Street (vacated in Instrument number 99-156437), and a portion of Lots 1, 2, 3, 4, and 5, and all of Lots 6, 8,
9, 10, 11, 12, 13, 14, 15, 16, and 17 and the included vacated alleys, the vacated portion of Norwood Street and a portion of Union
Street in McCarty Heirs’ Subdivision of Out Lots 113 and a part of Lots 1, 2, 3, and 4 in McCarty Heirs’ Subdivision
of Out Lots 114 in the Donation Lands of the City of Indianapolis, as per plat thereof, recorded in Plat Book 2, page 54, in the
Office of the Recorder of Marion County, Indiana; and also a portion of Lot 20 and all of Lots 21, 22, 23, and 24 in Edwin Ray’s
Partition of Out Lot 115 of the Donation Land of the City of Indianapolis, as per plat thereof recorded in Town Lot Record 17,
pages 470 and 471 in said Recorder’s office described as follows: 

 

BEGINNING at the intersection of the
east right-of-way line of Meridian Street and the north right-of-way line of Merrill Street; thence North 00 degrees 07 minutes
56 seconds East 410.17 feet along the east right-of-way line of said Meridian Street; thence South 89 degrees 51 minutes 29 seconds
East 76.07 feet to southwest right-of-way line of Madison Avenue; thence South 19 degrees 57 minutes 19 seconds East 320.88 feet
along said southwest right-of-way line to the intersection of said southwest right-of-way line with the west right-of-way line
of Union Street; thence South 00 degrees 00 minutes 00 seconds East 108.83 feet along said west right-of-way line to the northeast
corner of said vacated Merrill Street (Instrument number 99-156437); thence South 00 degrees 00 minutes 00 seconds East 40.00 feet
to the southeast corner of said vacated Merrill Street; thence South 00 degrees 00 minutes 00 seconds East 20.00 feet along the
west right-of-way line of said Union Street; thence South 89 degrees 51 minutes 29 seconds East 58.52 feet to the west right-of-way
line of the proposed re-alignment of Madison Avenue; thence along said proposed west right-of-way line, Southerly 149.80 feet along
an arc to 

 

    	K-7

    	 

    

the right and having a radius of 556.00
feet and subtended by a long chord having a bearing of South 07 degrees 32 minutes 52 seconds East and a length of 149.35 feet;
thence South 00 degrees 00 minutes 00 seconds East 431.88 feet along said proposed right-of-way, parallel with the centerline of
vacated Union Street, to the north line of the Lilly Day Care Center Parcel as shown on the certain Land Title Survey prepared
by Paul I. Cripe, Inc. under Project No. 98438-30000, dated May 16, 1999; thence North 89 degrees 38 minutes 53 seconds West 238.90
feet along said north line to the east line of an alley; thence North 07 degrees 01 minute 04 seconds East 160.01 feet along said
east line to the northwest corner of said Lot 24 of Edwin Ray’s Partition of Out Lot 115; thence South 89 degrees 38 minutes
53 seconds East 11.87 feet along the north line of said Lot 24; thence North 00 degrees 21 minutes 07 seconds East 40.00 feet to
the southwest corner of said Lot 6 in McCarty Heirs’ Subdivision of Out Lot 113; thence North 00 degrees 00 minutes 00 seconds
East 45.50 feet along the west line of said Lot 6 to the northwest corner of said Lot 6; thence North 89 degrees 38 minutes 53
seconds West 142.41 feet along the south line of said Lot 8 in McCarty Heirs’ Subdivision of Out Lot 113 to the southeast
right-of-way line of Meridian Street; thence North 13 degrees 49 minutes 07 seconds East 364.50 feet to the southwest corner of
said vacated Merrill Street (Instrument number 99-156437); thence North 03 degrees 00 minutes 12 seconds West 40.06 feet to the
northwest corner of said vacated Merrill Street and the POINT OF BEGINNING and containing 5.222 acres, more or less. The bearings
in this description are based upon the centerline of vacated Union Street having a bearing of South 00 degrees 00 minutes 00 seconds
East.

 

EXCEPTING THEREFROM:

 

A portion of Out Lot 25 in the City
of Indianapolis, lying north of Merrill Street, east of Meridian Street and west of Madison Avenue and Union Street, and all of
vacated Merrill Street (vacated in Instrument number 99-156437), and a portion of Lots 14, 15, 16, and 17 and the included vacated
alleys in McCarty Heirs' Subdivision of Out Lots 113 in the Donation Lands of the City of Indianapolis, as per plat thereof, recorded
in Plat Book 2, page 54, in the Office of the Recorder of Marion County, Indiana described as follows: 

 

BEGINNING at the intersection of the
east right-of-way line of Meridian Street and the north right-of-way line of Merrill Street; thence North 00 degrees 07 minutes
56 seconds East 410.17 feet along the east right-of-way line of said Meridian Street; thence South 89 degrees 51 minutes 29 seconds
East 76.07 feet to southwest right-of-way line of Madison Avenue; thence South 19 degrees 57 minutes 19 seconds East 320.88 feet
along said southwest right-of-way line to the intersection of said southwest right-of-way line with the west right-of-way line
of Union Street; thence South 00 degrees 00 minutes 00 seconds East 108.83 feet along said west right-of-way line to the northeast
comer of said vacated Merrill Street (Instrument number 99-156437); thence South 00 degrees 00 minutes 00 seconds East 40.00 feet
to the southeast corner of said vacated Merrill Street; thence South 00 degrees 00 minutes 00 seconds East 12.36 feet along the
west right-of-way line of said Union Street; thence South 89 degrees 46 minutes 40 seconds West 100.67 feet; thence South 00 degrees
27 minutes 40 seconds West 33.53 feet; thence North 88 degrees 56 minutes 26 seconds West 16.35 feet; thence South 00 degrees 49
minutes 49 seconds East 146.66 feet to the face of curb on the north side of the Lilly Recreational Center; thence North 89 degrees
50 minutes 51 seconds West along said face of curb a distance of 80.97 feet to the east end of a brick retaining wall; thence North
01 degrees 17 minutes 51 seconds East along the east face of said brick retaining wall a distance of 1.32 feet; thence North 89
degrees 32 minutes 14 seconds West along the 

 

    	K-8

    	 

    

north face of said brick retaining wall
a distance of 35.37 feet to the southeast right-of-way line of Meridian Street; thence North 13 degrees 49 minutes 07 seconds East
196.95 feet to the southwest corner of said vacated Merrill Street (Instrument number 99-156437); thence North 03 degrees 00 minutes
12 seconds West 40.06 feet to the northwest corner of said vacated Merrill Street and the POINT OF BEGINNING. The bearings in this
description are based upon the centerline of vacated Union Street having a bearing of South 00 degrees 00 minutes 00 seconds East.

 

    	K-9

    	 

    

Exhibit B

 

Depiction of the Pedestrian Mall Parcel

 

    	K-10

    	 

    

EXHIBIT L

 

FORM OF ROOFTOP CELL TENANT ESTOPPEL

 

 

The undersigned hereby
certifies to AR Capital, LLC and ARC RRINSIN001, LLC (and together with any successor and assigns thereof, collectively “Purchaser”)
and any of such Purchaser’s lender, mortgagee or beneficiary under any deed of trust or other security instrument, and their
respective successors and assigns as follows:

 

1.             The undersigned is the tenant under that certain [Lease Agreement] dated as of _________ __, ____, [as amended by
[insert any modifications to Lease] ([collectively,] the “Lease”) by and between _________________________ (“Landlord”)
and _________________________ (“Tenant”), pursuant to which Tenant leases that real property located
at _________________________________________ (the “Premises”).

 

2.             Except as set forth above, the Lease has not been modified, changed, altered, supplemented or amended in any respect,
nor have any provisions thereof been waived.

 

3.             The Lease is valid and in full force and effect on the date hereof. The Lease represents the entire agreement between
Landlord and Tenant with respect to the Premises and the land on which the Premises are situated.

 

4.             Except as expressly set forth in the Lease, Tenant is not entitled to, and has made no agreement with Landlord or
its agents or employees concerning, free rent, partial rent, rebate of rent payments, credit or offset or reduction in rent, or
any other type of rental concession including, without limitation, lease support payments, lease buy-outs, or assumption of any
leasing or occupancy agreements of Tenant.

 

5.             The initial term of the Lease began on __________ __, _____ and expires on ________ __, 20__. The Rent Commencement
Date was __________ __, ____. Tenant has accepted possession of the Premises and is open for business.

 

6.             Except as expressly set forth in the Lease, (i) Tenant has no outstanding options or rights to renew or extend the
term of the Lease, and (ii) Tenant has no outstanding expansion options, other options, rights of first refusal or rights of first
offer to purchase the Premises or any part thereof and/or the land on which the Premises are situated, or rights of first offer
to lease with respect to all or any part of the Premises.

 

7.             The Rent currently payable under the Lease is $____________ per month. Such rent has been paid through and including
the month of April, 2013. No such rent (excluding security deposits) has been paid more than one (1) month in advance of its due
date.

 

8.             Tenant's security deposit, if any, is $_________________ (if none, please state “none”).

 

    	L-1

    	 

    

 

 

9.             No event has occurred and no condition exists that constitutes, or that with the giving of notice or the lapse of
time or both, would constitute, a default by Tenant or, to the best knowledge of Tenant, Landlord under the Lease. Tenant has no
existing defenses or offsets against the enforcement of the Lease by Landlord.

 

10.          (a)All required
contributions by Landlord to Tenant on account of Tenant's improvements have been received by Tenant and all of Tenant's tenant
improvements have been completed in accordance with the terms of the Lease.

 

(b)Landlord has satisfied
all its obligations to Tenant arising out of or incurred in connection with the construction of the tenant improvements on the
Premises and no off-set exists with respect to any rents or other sums payable or to become payable by the Tenant under the Lease.

 

11.         The undersigned
is duly authorized to execute this Certificate on behalf of Tenant.

 

 

 

Dated: ____________, 2013

 

TENANT:

 

____________________, a ________________

 

By:______________

Name:

Title: 

 

    	L-2

    	 

    

EXHIBIT M

 

RESTRICTED ENTITIES

 

	Any person which is partially or wholly owned by the state or federal government
of any country which has been identified or designated by the United Nations or any other generally recognized international forum
or body as a country with which sensitive defense technologies or information should not be shared with or made available to (i.e.-
a country with defense sensitivities), for example, Myanmar, Iran, Iraq and Afghanistan; or
	Any person with competing business interest in the power systems or power generation
industries, aviation or other aero-space related industries, commercial, naval and other marine-related industries, oil and gas
and other large energy production and distribution industries, nuclear and other alternative energy production industries, including
any of the following:

		Ø	General Electric Company, provided, GE Capital shall not be precluded from providing financing to a qualified third party purchaser
that is not a GE owned or controlled entity.

		Ø	Pratt & Whitney

		Ø	SAFRAN/SNECMA (Société Nationale d’Étude et de Construction de Moteurs d’aviation)

		Ø	CFM International

		Ø	Engine Alliance LLC

		Ø	Hamilton Sunstrand

		Ø	Honeywell International Inc.

		Ø	Siemens AG

		Ø	ABB Ltd.

		Ø	IHI Corporation

		Ø	Ebara Corporation

		Ø	Samsung

		Ø	Hyundai

		Ø	SAAB AB

		Ø	MAN Aktiengesellschaft

		Ø	Dresser Inc.

		Ø	Turbodyne Technologies, Inc.

		Ø	Caterpillar Inc.

		Ø	Solar Turbines Inc.

		Ø	Westinghouse Electric Corporation

		Ø	Wärtsilä Corporation

		Ø	United Technologies Group

		Ø	Marine Hydraulics International Inc.

		Ø	Toshiba

		Ø	Dresser-Rand

		Ø	AREVA

 

 

    	M-1

    	 

    

 

EXHIBIT N

 

REAL ESTATE TAX AGREEMENT

 

Real Estate Tax Agreement

 

Pursuant to that certain
Agreement of Purchase and Sale, dated April ___, 2013, by and between Eli Lilly and Company ("Seller") and AR Capital,
LLC, as assigned to _________ ("Purchaser"), Purchaser is purchasing certain real estate located in Marion County, Indiana
and more particularly described in Exhibit A attached hereto (the "Real Estate"), which Real Estate includes a
portion of tax parcel number 1097406 (the "Brougher Tax Parcel") and a portion of tax parcel number 1083592 (the "Faris
II Grounds Tax Parcel"). In connection with such purchase, the parties hereby agree as follows:

 

1.Until the portion
of the Real Estate included within the Brougher Tax Parcel is assessed separately or as part of a tax parcel wholly owned by Purchaser,
Seller shall timely pay the full amount of taxes assessed with respect to the Brougher Tax Parcel and Purchaser shall reimburse
Seller for the equitable portion (based on acreage) of such taxes attributable to the land assessment for the Brougher Tax Parcel.
Such reimbursement shall be paid promptly upon Purchaser's receipt of a copy of the tax bill and an invoice setting forth such
equitable portion of such land assessment. Specifically, Purchaser shall reimburse Seller an amount equal to the total amount of
taxes assessed against the land (not including improvements) for the Brougher Tax Parcel multiplied by a fraction, the numerator
of which is 0.983 (representing the acreage of the Real Estate included within the Brougher Tax Parcel) and the denominator of
which is 2.978 (representing the total acreage of the Brougher Tax Parcel). If Purchaser receives a copy of the tax bill or any
assessment or other notices for the Brougher Tax Parcel, Purchaser shall promptly forward the same to Seller. Seller shall have
the right to control all appeals of taxes and assessments with respect to the Brougher Tax Parcel and receive any refunds in connection
therewith, provided that Seller shall indemnify, defend and hold Purchaser harmless from and against any claims to any such refunds
or portions thereof made by Rolls-Royce Corporation or the successor to Rolls-Royce's leasehold interest in the Real Estate ("Tenant").
If, prior to the portion of the Real Estate included within the Brougher Tax Parcel being assessed separately or as part of a tax
parcel wholly owned by Purchaser, new improvements are constructed upon Purchaser's property that increase the assessment for improvements
on such tax parcel, then Purchaser shall also reimburse Seller for the taxes attributable to such increased assessment. Any surplus
attributable to prior payments or appeals made by Seller with respec to any portion of the Real Property shall be for the sole
benefit of Seller.

 

2. Until the portion
of the Real Estate included within the Faris II Grounds Tax Parcel is assessed separately or as part of a tax parcel wholly owned
by Purchaser, the party receiving the bill for the Faris II Grounds Tax Parcel or any assessment or other notices related thereto
shall promptly forward the same to Tenant. If the Faris II Grounds Tax Parcel is no longer leased in its entirety by Tenant or
if Tenant shall fail to timely pay the full amount of taxes assessed with respect to the Faris II Grounds Tax Parcel, then either
party may pay such taxes (together with any interest and penalties) and the other party shall reimburse the paying party for the
equitable portion of such taxes, interest and penalties (with the land assessment being apportioned based on acreage and any assessments
for improvements being allocated to the party upon whose property such improvements are located). Such reimbursement shall be paid
promptly upon receipt of a copy of evidence of payment and an invoice setting forth such equitable portion of such taxes, interest
and penalties. Specifically, if Seller makes such payment, Purchaser shall reimburse Seller an amount equal to (i) the total amount
of taxes assessed against the land (not including improvements) for the Faris II Grounds Tax Parcel, multiplied by a fraction,
the numerator of which is 0.511 (representing the acreage of the Real Estate included within the Faris II Grounds Tax Parcel) and
the denominator of which is 1.431 (representing the total acreage of the Faris II Grounds Tax Parcel) plus

 

    	N-1

    	 

    

(ii) the amount of any taxes assessed as
part of the Faris II Grounds Tax Parcel against improvements located on Purchaser's property for the Faris II Grounds Tax Parcel,
plus (iii) any interest and penalties attributable to the amounts set forth in (i) or (ii). If Purchaser makes such payment, Seller
shall reimburse Purchaser an amount equal to (a) the total amount of taxes assessed against the land (not including improvements)
for the Faris II Grounds Tax Parcel multiplied by a fraction, the numerator of which is 0.920 (representing the acreage of Seller's
property included within the Faris II Grounds Tax Parcel) and the denominator of which is 1.431 (representing the total acreage
of the Faris II Grounds Tax Parcel), plus (b) the amount of any taxes assessed against improvements located on Seller's property
for the Faris II Grounds Tax Parcel, plus (c) any interest and penalties attributable to the amount set forth in (a) or (b). If
the Faris II Grounds Tax Parcel is no longer leased in its entirety by Tenant, then (x) the party receiving the bill for such tax
parcel or any assessment or other notices related thereto shall promptly forward the same to the other party, (y) parties shall
cooperate and coordinate with respect to the payment of taxes and equitably apportion the same as set forth above, and (z) the
parties shall cooperate and coordinate with respect to any appeals with respect thereto and the amount of any net refunds shall
be equitably apportioned between the parties.

 

3.The parties shall
cooperate to have the portions of the Brougher Tax Parcel and the Faris II Grounds Tax Parcel that are included within the Real
Estate assigned their own tax parcel numbers or incorporated into existing tax parcels wholly owned by Purchaser as soon as possible.

 

4.The provisions
of this Real Estate Tax Agreement shall survive until the end of the calendar year in which the portions of the Brouhger Tax Parcel
and the Faris II Grounds Tax Parcel included within the Real Estate are assessed as their own tax parcels or as part of tax parcels
wholly owned by Purchaser.

 

5.This Agreement
shall be binding upon and inure to the benefit of Seller and Purchaser and their respective successors and assigns.

 

6.This Agreement
may be executed in counterparts and signatures delivered by facsimile, electronic mail of .pdf file or other electronic means shall
have the force and effect of original signatures.

 

 

 

 

 

    	N-2

    	 

    

 

 

 

 

 

IN WITNESS WHEREOF,
the parties have executed this Real Estate Tax Agreement as of __________ ___, 2013.

 

 

IN WITNESS WHEREOF,
the parties have caused this Agreement to be duly executed as of the Effective Date.

 

 "SELLER"

 

 ELI LILLY AND COMPANY, an Indiana corporation

	 	
        

         

	 	 	 
	 	By:	 
	 	 	 
	 	Name: 	 
	 	 	 
	 	Title: 	 

 

 "PURCHASER"

 

 ____________________, a __________

	 	
        

         

			
	 	By:	 
	 	 	 
	 	Name: 	 
	 	 	 
	 	Title: 	 

 

 

    	N-3

    	 

    

Exhibit A

To

Real Estate Tax Agreement

 

Legal Description of the Real Estate

 

(Faris I Building)

 

Lots 10, 11, 12 and part of Lots 8,
9, 13, 14, 15 and 16 of Russell's Heirs Subdivision of Out Lot 26 of the Donation Lands of the City of Indianapolis, as per plat
thereof, recorded in Plat Book 2, page 24 in the Office of the Recorder of Marion County, Indiana; also, part of the first alley
West of Meridian Street, lying North of Merrill Street, as vacated per Declaratory Resolution 99-CP-13VAC and recorded as Instrument
#1999-0155155 in the said Recorder's Office, all being more particularly described as follows:

 

Commencing at the Northeast corner of
Lot 1 of Russell's Heirs Subdivision; thence along the East line thereof, also being the West right of way or Meridian Street,
South 00 degrees 00 minutes 00 seconds East (basis of bearings-due North along the center line of Meridian Street) 278.66 feet
to the Point of Beginning; thence continuing along the said West right of way, South 00 degrees 00 minutes 00 seconds East 121.60
feet to the Southeast corner of Lot 12 in said subdivision; thence along the South line of said Lot 12 and the extension thereof,
also being the North right of way of Merrill Street, North 89 degrees 44 minutes 45 seconds West 277.54 feet; thence North 00 degrees
00 minutes 00 seconds East 106.74 feet; thence North 90 degrees 00 minutes 00 seconds East 81.20 feet; thence North 00 degrees
00 minutes 00 seconds East 14.50 feet; thence South 89 degrees 44 minutes 45 seconds East 60.44 feet; thence North 00 degrees 15
minutes 15 seconds East 12.86 feet; thence South 89 degrees 44 minutes 45 seconds East 20.24 feet; thence South 00 degrees 15 minutes
15 seconds West 12.86 feet; thence South 89 degrees 44 minutes 45 seconds East 115.66 feet to the point of beginning.

 

(Faris I Access Parcel)

 

Part of Lots 1 through 9 inclusive of
Russell's Heirs Subdivision of Out Lot 26 of the Donation Lands of the City of Indianapolis, as per plat thereof, recorded in Plat
Book 2, page 24 in the Office of the Recorder of Marion County, Indiana; also, part of vacated Warsaw Street lying between Lots
6 and 7 of said Russell's Heirs Subdivision, vacated per Declaratory Resolution No. D 66-27 and recorded as Instrument #66-62087
in the said Recorder's Office; also, part of the alley lying West of and adjacent to Lot 7 of said Russell's Heirs Subdivision,
as vacated per Declaratory Resolution 99-CP-13VAC and recorded as Instrument #1999-0155155 in the said Recorder's Office, all being
more particularly described as follows:

 

Commencing at the Northeast corner of
Lot 1 of said Russell's Heirs Subdivision; thence along the East line thereof, also being the West right of way of Meridian Street,
South 00 degrees 00 minutes 00 seconds East (basis of bearings - due North along the center line of Meridian Street) 15.00 feet
to the Point of Beginning; thence continuing along the said West right of way, South 00 degrees 00 minutes 00 seconds East 263.66
feet; thence North 89 degrees 44 minutes 45 seconds West 115.66 feet; thence North 00 degrees 15 minutes 15 seconds East 12.86
feet; thence North 89 degrees 44 minutes 45 seconds West 20.24 feet; thence South 00 degrees 15 minutes 15 seconds West 12.86 feet;
thence North 89 degrees 44 minutes 45 seconds West 57.44 feet; thence North 07 degrees 45 

 

    	N-4

    	 

    

minutes 00 seconds East 59.28 feet;
thence North 90 degrees 00 minutes 00 seconds East 41.60 feet; thence North 08 degrees 00 minutes 00 seconds East 130.50 feet;
thence North 90 degrees 00 minutes 00 seconds East 13.20 feet; thence North 00 degrees 00 minutes 00 seconds East 75.13 feet to
a point which bears North 89 degrees 51 minutes 00 seconds West 112.38 feet from the point of beginning; thence South 89 degrees
51 minutes 00 seconds East 112.38 feet to the point of beginning.

 

(Faris II Building)

 

Part of Lots 8 through 16, inclusive,
Lots 17 through 20, inclusive, and part of Lots 21 and 22 in Seidensticker's Subdivision of the East Half of Out Lot No. 15 of
the Donation Lands of the City of Indianapolis, as per plat thereof, recorded in Plat Book 2, page 93 in the Office of the Recorder
of Marion County, Indiana; also a strip of ground 10 feet wide by parallel lines lying East of and adjacent to the East side of
Lots 17 through 20 and that part of Lot 21 in said Seidensticker's Subdivision; also, a part of Mechanic Street vacated per Declaratory
Resolution No. 99-CP-13 VAC recorded as Instrument No. 1999-0155155, all being more particularly described as follows:

 

Commencing at the Southeast corner of
Lot 16 in said subdivision; thence along the South line of said Lot 16, also being the North right of way of Henry Street, North
89 degrees 51 minutes 00 seconds West (basis of bearings-due North along the center line of Meridian Street) 102.50 feet to the
Point of Beginning; thence North 00 degrees 00 minutes 00 seconds East 18.95 feet; thence North 90 degrees 00 minutes 00 seconds
East 14.50 feet; thence North 00 degrees 00 minutes 00 seconds East 28.42 feet; thence North 90 degrees 00 minutes 00 seconds West
14.50 feet; thence North 00 degrees 00 minutes 00 seconds West 33.41 feet; thence North 90 degrees 00 minutes 00 seconds West 7.54
feet; thence North 07 degrees 59 minutes 24 seconds East 145.24 feet; thence North 90 degrees 00 minutes 00 seconds West 113.00
feet; thence North 00 degrees 00 minutes 00 seconds West 52.00 feet; thence North 90 degrees 00 minutes 00 seconds West 36.38 feet
to the West line of Lot 22 in said subdivision; thence along the West line of Lots 22 through 17 in said subdivision, thence South
00 degrees 06 minutes 53 seconds East 276.25 feet to the Southwest corner of said Lot 17; thence along the South line of said Lot
17 and the extension thereof, also being the North right of way of Henry Street, South 89 degrees 51 minutes 00 seconds East 136.18
feet to the point of beginning.

 

(Faris II Access Parcel)

 

Lots 1 through 7, Lots 23 and 24, part
of Lots 8 through 16, and part of Lots 21 and 22, all in Seidensticker's Subdivision of the East Half of Out Lot No. 15 of the
Donation Lands of the City of Indianapolis, as per plat thereof, recorded in Plat Book 2, page 93 in the Office of the Recorder
of Marion County, Indiana; also, a strip of ground 10 feet wide by parallel lines lying East of and adjacent to the East side of
Lots 22 through 24 and that part of Lot 21 in said Seidensticker's Subdivision; also, part of Mechanic Street vacated per Declaratory
Resolution No. 99-CP-13 VAC recorded as Instrument #99-0155155, all being more particularly described as follows:

 

Beginning at the Northeast corner of
Lot 1 in said Seidensticker's Subdivision; thence along the East line thereof, also being the West right of way of Meridian Street,
South 00 degrees 00 minutes 00 seconds East (basis of bearings - due North along the center line of Meridian Street) 400.00 feet
(plat) 400.21 feet (measured) to the Southeast corner of Lot 

 

    	N-5

    	 

    

16 in said subdivision; thence along
the South line of said Lot 16, also being the North right of way of Henry Street, North 89 degrees 51 minutes 00 seconds West 102.50
feet; thence North 00 degrees 00 minutes 00 seconds East 18.95 feet; thence North 90 degrees 00 minutes 00 seconds East 14.50 feet;
thence North 00 degrees 00 minutes 00 seconds East 28.42 feet; thence North 90 degrees 00 minutes 00 seconds West 14.50 feet; thence
North 00 degrees 00 minutes 00 seconds West 33.41 feet; thence North 90 degrees 00 minutes 00 seconds West 7.54 feet; thence North
07 degrees 59 minutes 24 seconds East 142.24 feet; thence North 90 degrees 00 minutes 00 seconds West 113.00 feet; thence North
00 degrees 00 minutes 00 seconds West 52.00 feet; thence North 90 degrees 00 minutes 00 seconds West 36.38 feet to the West line
of Lot 22 in said subdivision; thence along the West line of Lots 22 through 24 in said subdivision, North 00 degrees 06 minutes
53 seconds West 123.56 feet to the Northwest corner of said Lot 24, which lies on the South right of way line of South Street;
thence along said right of way South 89 degrees 56 minutes 46 seconds East 240.00 feet (plat) 239.47 feet (measured) to the point
of beginning.

 

EXCEPTING THEREFROM:

 

Part of that 1.431 acre tract of land
described as “Parcel 4” in the Special Warranty Deed from Kite Henry, LLC to Eli Lilly and Company recorded as Instrument
Number 2002-0251905 in the Office of the Marion County Recorder being described as follows:

 

Beginning at the northeast corner of
Lot 1 in Seidensticker’s Subdivision per plat thereof recorded in Plat Book 2, Page 93; thence South 00 degrees 00 minutes
00 seconds East (basis of bearings is centerline of Meridian Street = North 00 degrees 00 minutes 00 seconds East) along the west
right of way line of Meridian Street a distance of 175.33 feet; thence North 90 degrees 00 minutes 00 seconds West a distance of
89.85 feet to a westerly corner of the tract of land described as Parcel 4 in Instrument number 2002-251905; thence the following
five courses along the westerly and north lines of said tract: 

 

1.North 90 degrees 00
minutes 00 seconds West a distance of 113.00 feet;

 

2.thence North
00 degrees 00 minutes 00 seconds East a distance of 52.00 feet;

 

3.thence North
90 degrees 00 minutes 00 seconds West a distance of 36.38 feet;

 

4.thence North
00 degrees 06 minutes 53 seconds West a distance of 123.56 feet;

 

5.thence South
89 degrees 56 minutes 46 seconds East a distance of 239.47 feet (240.00 feet, plat) to the Point of Beginning. 

 

(Parking Garage and Cafeteria/Conference
Building)

 

Part of Lots 1 through 8, part of Lots
13 through 16, all of Lots 17 through 23, inclusive, and part of Lot 24 of Russell's Heirs Subdivision of Out Lot 26 of the Donation
Lands of the City of Indianapolis, as per plat thereof, recorded in Plat Book 2, page 24 in the Office of the Recorder of Marion
County, Indiana; also, part of the alleys and/or street heretofore vacated lying within the block bounded by Meridian Street, Merrill
Street, Illinois Street, and Henry Street; also, part of Out Lot 26 of the Donation Lands of the City of Indianapolis, more particularly
described as a parcel of ground 192 feet in length from North to South by 60 feet in width from East to West, lying West of and
adjoining the 

 

    	N-6

    	 

    

alley running along the West side of
Lots 1 to 6 and East of and adjoining the alley running along the East side of said Lots 19 to 24, all being more particularly
described as follows:

 

Commencing at the Northeast corner of
Lot 1 of said Russell's Heirs Subdivision; thence along the East line thereof, also being the West right of way of Meridian Street,
South 00 degrees 00 minutes 00 seconds East (basis of bearings-due North along the center line of Meridian Street) 15.00 feet;
thence North 89 degrees 51 minutes 00 seconds West 112.38 feet to the Point of Beginning; thence South 00 degrees 0 minutes 00
seconds West 75.13 feet; thence South 90 degrees 00 minutes 00 seconds West 13.20 feet; thence South 08 degrees 00 minutes 00 seconds
West 130.50 feet; thence South 90 degrees 00 minutes 00 seconds West 41.60 feet; thence South 07 degrees 45 minutes 00 seconds
West 59.28 feet; thence North 89 degrees 44 minutes 45 seconds West 3.00 feet; thence South 00 degrees 00 minutes 00 seconds West
14.50 feet; thence South 90 degrees 00 minutes 00 seconds West 81.20 feet; thence South 00 degrees 00 minutes 00 seconds West 106.74
feet to the South line of Lot 13 in said subdivision; thence along the South line of said Lot 13, also being the North right of
way of Merrill Street, North 89 degrees 44 minutes 45 seconds West 138.53 feet to the Southwest corner of said Lot 13; thence along
the West line of said Lots 13 through 24, also being the East right of way of Illinois Street, North 00 degrees 12 minutes 15 seconds
West 384.51 feet to a point which bears North 89 degrees 51 minutes 00 seconds West 305.05 feet from the point of beginning; thence
South 89 degrees 51 minutes 00 seconds East 305.05 feet to the point of beginning.

 

(Fitness Center and Surrounding Parking)

 

A portion of Out Lot 25 in the City
of Indianapolis, lying north of Merrill Street, east of Meridian Street and west of Madison Avenue and Union Street, and all of
vacated Merrill Street (vacated in Instrument number 99-156437), and a portion of Lots 1, 2, 3, 4, and 5, and all of Lots 6, 8,
9, 10, 11, 12, 13, 14, 15, 16, and 17 and the included vacated alleys, the vacated portion of Norwood Street and a portion of Union
Street in McCarty Heirs’ Subdivision of Out Lots 113 and a part of Lots 1, 2, 3, and 4 in McCarty Heirs’ Subdivision
of Out Lots 114 in the Donation Lands of the City of Indianapolis, as per plat thereof, recorded in Plat Book 2, page 54, in the
Office of the Recorder of Marion County, Indiana; and also a portion of Lot 20 and all of Lots 21, 22, 23, and 24 in Edwin Ray’s
Partition of Out Lot 115 of the Donation Land of the City of Indianapolis, as per plat thereof recorded in Town Lot Record 17,
pages 470 and 471 in said Recorder’s office described as follows: 

 

BEGINNING at the intersection of the
east right-of-way line of Meridian Street and the north right-of-way line of Merrill Street; thence North 00 degrees 07 minutes
56 seconds East 410.17 feet along the east right-of-way line of said Meridian Street; thence South 89 degrees 51 minutes 29 seconds
East 76.07 feet to southwest right-of-way line of Madison Avenue; thence South 19 degrees 57 minutes 19 seconds East 320.88 feet
along said southwest right-of-way line to the intersection of said southwest right-of-way line with the west right-of-way line
of Union Street; thence South 00 degrees 00 minutes 00 seconds East 108.83 feet along said west right-of-way line to the northeast
corner of said vacated Merrill Street (Instrument number 99-156437); thence South 00 degrees 00 minutes 00 seconds East 40.00 feet
to the southeast corner of said vacated Merrill Street; thence South 00 degrees 00 minutes 00 seconds East 20.00 feet along the
west right-of-way line of said Union Street; thence South 89 degrees 51 minutes 29 seconds East 58.52 feet to the west right-of-way
line of the proposed re-alignment of Madison Avenue; 

 

    	N-7

    	 

    

thence along said proposed west right-of-way
line, Southerly 149.80 feet along an arc to the right and having a radius of 556.00 feet and subtended by a long chord having a
bearing of South 07 degrees 32 minutes 52 seconds East and a length of 149.35 feet; thence South 00 degrees 00 minutes 00 seconds
East 431.88 feet along said proposed right-of-way, parallel with the centerline of vacated Union Street, to the north line of the
Lilly Day Care Center Parcel as shown on the certain Land Title Survey prepared by Paul I. Cripe, Inc. under Project No. 98438-30000,
dated May 16, 1999; thence North 89 degrees 38 minutes 53 seconds West 238.90 feet along said north line to the east line of an
alley; thence North 07 degrees 01 minute 04 seconds East 160.01 feet along said east line to the northwest corner of said Lot 24
of Edwin Ray’s Partition of Out Lot 115; thence South 89 degrees 38 minutes 53 seconds East 11.87 feet along the north line
of said Lot 24; thence North 00 degrees 21 minutes 07 seconds East 40.00 feet to the southwest corner of said Lot 6 in McCarty
Heirs’ Subdivision of Out Lot 113; thence North 00 degrees 00 minutes 00 seconds East 45.50 feet along the west line of said
Lot 6 to the northwest corner of said Lot 6; thence North 89 degrees 38 minutes 53 seconds West 142.41 feet along the south line
of said Lot 8 in McCarty Heirs’ Subdivision of Out Lot 113 to the southeast right-of-way line of Meridian Street; thence
North 13 degrees 49 minutes 07 seconds East 364.50 feet to the southwest corner of said vacated Merrill Street (Instrument number
99-156437); thence North 03 degrees 00 minutes 12 seconds West 40.06 feet to the northwest corner of said vacated Merrill Street
and the POINT OF BEGINNING and containing 5.222 acres, more or less. The bearings in this description are based upon the centerline
of vacated Union Street having a bearing of South 00 degrees 00 minutes 00 seconds East.

 

EXCEPTING THEREFROM:

 

A portion of Out Lot 25 in the City
of Indianapolis, lying north of Merrill Street, east of Meridian Street and west of Madison Avenue and Union Street, and all of
vacated Merrill Street (vacated in Instrument number 99-156437), and a portion of Lots 14, 15, 16, and 17 and the included vacated
alleys in McCarty Heirs' Subdivision of Out Lots 113 in the Donation Lands of the City of Indianapolis, as per plat thereof, recorded
in Plat Book 2, page 54, in the Office of the Recorder of Marion County, Indiana described as follows: 

 

BEGINNING at the intersection of the
east right-of-way line of Meridian Street and the north right-of-way line of Merrill Street; thence North 00 degrees 07 minutes
56 seconds East 410.17 feet along the east right-of-way line of said Meridian Street; thence South 89 degrees 51 minutes 29 seconds
East 76.07 feet to southwest right-of-way line of Madison Avenue; thence South 19 degrees 57 minutes 19 seconds East 320.88 feet
along said southwest right-of-way line to the intersection of said southwest right-of-way line with the west right-of-way line
of Union Street; thence South 00 degrees 00 minutes 00 seconds East 108.83 feet along said west right-of-way line to the northeast
comer of said vacated Merrill Street (Instrument number 99-156437); thence South 00 degrees 00 minutes 00 seconds East 40.00 feet
to the southeast corner of said vacated Merrill Street; thence South 00 degrees 00 minutes 00 seconds East 12.36 feet along the
west right-of-way line of said Union Street; thence South 89 degrees 46 minutes 40 seconds West 100.67 feet; thence South 00 degrees
27 minutes 40 seconds West 33.53 feet; thence North 88 degrees 56 minutes 26 seconds West 16.35 feet; thence South 00 degrees 49
minutes 49 seconds East 146.66 feet to the face of curb on the north side of the Lilly Recreational Center; thence North 89 degrees
50 minutes 51 seconds West along said face of curb a distance of 80.97 feet to the east end of a brick retaining wall; thence North
01 degrees 17 minutes 51 seconds East along the east face of said brick retaining wall a 

    	N-8

    	 

    

distance of 1.32 feet; thence North
89 degrees 32 minutes 14 seconds West along the north face of said brick retaining wall a distance of 35.37 feet to the southeast
right-of-way line of Meridian Street; thence North 13 degrees 49 minutes 07 seconds East 196.95 feet to the southwest corner of
said vacated Merrill Street (Instrument number 99-156437); thence North 03 degrees 00 minutes 12 seconds West 40.06 feet to the
northwest corner of said vacated Merrill Street and the POINT OF BEGINNING. The bearings in this description are based upon the
centerline of vacated Union Street having a bearing of South 00 degrees 00 minutes 00 seconds East.

 

 

    	N-9

    	 

    

EXHIBIT O

 

HENRY STREET QUITCLAIM DEED

 

 

 

QUITCLAIM DEED

 

THIS INDENTURE WITNESSETH,
that ELI LILLY AND COMPANY, an Indiana corporation ("Grantor"), hereby QUITCLAIMS to __________, a __________,
for the sum of Ten Dollars ($10.00) and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, that certain real estate located in Marion County, Indiana and described on Exhibit A attached hereto and
incorporated herein.

 

IN WITNESS WHEREOF,
Grantor has executed this Quitclaim Deed on the date of notarization set forth on the following page to be effective as of __________
____, 2013.

 

 

	 	ELI LILLY AND COMPANY, an Indiana corporation
	 	 	 
	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Its:	 

    	O-1

    	 

    

STATE OF INDIANA             )

                                     ) SS:

COUNTY OF ____________)

 

Before me, a Notary
Public in and for said County and State, personally appeared ________________________, the ______________________________ of Eli
Lilly and Company, an Indiana corporation, who acknowledged the execution of the foregoing Quitclaim Deed on behalf of said corporation.

 

Witness my hand and
Notarial Seal this _____ day of __________________, 2013.

 

 

	 	(signature)

 

	 	(printed name)	(Notary Public)

 

 

	My Commission Expires: 	 	 
	 	 	 
	County of Residence: 	 	 

 

Send tax
statements to and

Grantee's mailing address is:

  

 

I affirm, under the penalties for perjury,
that I have taken reasonable care to redact each Social Security number in this document, unless required by law. Gregory C.
Touney

 

This instrument was prepared by: Gregory
C. Touney, Ice Miller LLP, One American Square, Suite 2900, Indianapolis, IN 46282, Tel: (317) 236-2100.

 

 

    	O-2

    	 

    

 

Exhibit A

 

Legal Description

 

15 feet, by parallel lines, off of the
entire North line of Russell's Heir's Subdivision of Out Lot No. 26 of the Donation Lands of the City of Indianapolis, as per plat
thereof recorded in Plat Book 2, Page 24, in the Office of the Recorder of Marion County, Indiana.

 

 

    	O-3

    	 

    

EXHIBIT P

 

GRANT OF RIGHT OF WAY

 

 

GRANT
OF RIGHT-OF-WAY

 

THIS INDENTURE WITNESSETH,
that ELI LILLY AND COMPANY, an Indiana corporation ("GRANTOR"), for itself, its successors and assigns, does hereby grant,
subject to the terms, conditions and limitations hereinafter set forth, to the City of Indianapolis, Department of Public Works
("GRANTEE"), its grantees, successors and assigns a permanent easement for a public right-of-way in and over the following
described real estate ("EASEMENT REAL ESTATE"), in Marion County, Indiana:

 

LEGAL DESCRIPTION ATTACHED HERETO AND INCORPORATED
HEREIN AS EXHIBIT "A"

 

This indenture is not
intended to and shall not be construed as surrendering, waiving, or affecting in any way GRANTOR's rights of access to and from
the EASEMENT REAL ESTATE, however, all such rights are subject to the ordinances, regulations, standards and specifications of
the City of Indianapolis, Marion County, Indiana.

 

This indenture shall
be binding until specifically vacated by legally constituted authority. Upon such vacation, in whole or in part, the portion thereof
so vacated shall revert to the owner of the fee simple title thereof, subject only to the rights of public utilities within the
EASEMENT REAL ESTATE or to the rights of governmental agencies having facilities within the EASEMENT REAL ESTATE.

 

GRANTOR agrees that
GRANTEE is not, as a condition of this grant, required to improve the EASEMENT REAL ESTATE.

 

GRANTOR and GRANTEE
agree that after improvement of all or a portion of the EASEMENT REAL ESTATE, the rights herein shall not lapse by reason of non-use.

 

    	P-1

    	 

    

Until such time as
GRANTEE shall take possession of said EASEMENT REAL ESTATE, the owner of the fee simple title thereof, and those claiming through
said owner, reserve the right to use said real estate for any legal purpose not inconsistent with this grant; however, said owner,
and those claiming through said owner or GRANTOR, shall not create, transfer or grant any indenture, easement, license, or other
property interests affecting the EASEMENT REAL ESTATE to a third party and shall not construct or cause to have constructed or
allow any construction of any structures on the EASEMENT REAL ESTATE, without the written consent of the GRANTEE. Said indentures,
easements, licenses, or other property interests, if consented to by GRANTEE, shall expire upon the taking of possession by GRANTEE.

 

GRANTOR, owner, and
those claiming through said owner or GRANTOR, shall not be eligible to demand or receive any compensation for surrender of possession
when GRANTEE shall take possession of the EASEMENT REAL ESTATE.

 

It is understood and
agreed that all provisions of this grant are stated herein and that no verbal agreements or promises are binding.

 

GRANTOR covenants and
represents that to the best of its knowledge the EASEMENT REAL ESTATE is not presently subject to any federal, Indiana, any other
state, or local environmentally related lien, proceeding, claim, liability or action; or the threat or likelihood thereof.

 

GRANTOR agrees that
between GRANTOR and GRANTEE, the acceptance of this grant by GRANTEE shall not increase the liability of GRANTEE for environmentally
related claims arising from or related to conditions on the EASEMENT REAL ESTATE prior to the acceptance of this grant.

 

In accordance with
I.C. 32-23-2-5, the most recent deed of record by which the GRANTOR holds title is A201300033850.

 

GRANTOR represents
that, to the knowledge of the undersigned representative executing this Grant of Right of Way on behalf of GRANTOR, (i) GRANTOR
is the sole owner of the EASEMENT REAL ESTATE, and (ii) there are no indentures, easements, licenses, encumbrances, leases, liens
or options of any kind or character on the EASEMENT REAL ESTATE as granted, except as set forth on EXHIBIT "B" attached
hereto and incorporated herein, and that it makes these representations for the purpose of inducing the GRANTEE to accept this
indenture.

 

This indenture shall
run with the EASEMENT REAL ESTATE, be a burden upon the EASEMENT REAL ESTATE, and shall be binding upon GRANTEE, GRANTOR, and the
successors and assigns of GRANTOR and of GRANTEE.

 

By acceptance of this
indenture, GRANTEE acknowledges that GRANTOR shall have no obligation other than those required by the Revised Code of the Consolidated
City and County and its regulations, to repair or maintain any public street or other public improvement hereafter located upon
the EASEMENT REAL ESTATE.

 

    	P-2

    	 

    

 

 

This indenture shall
be governed by and construed and enforced in accordance with the laws of the State of Indiana.

 

This grant is to be
and become effective and binding from and after its acceptance by GRANTEE.

 

Further, the GRANTEE
acknowledges that the grant made herein, if accepted by GRANTEE, shall be full satisfaction of the undertaking, related to the
dedication of the public right-of-way, of the GRANTOR, to the City of Indianapolis, Department of Public Works, or its predecessors,
in connection with the rezoning of such property or the variance granted upon such property in the cause docketed as N/A.

 

GRANTOR covenants that,
to GRANTOR'S knowledge, GRANTOR is the owner in fee simple of the EASEMENT REAL ESTATE, is lawfully seized thereof and has good
right to grant and convey the foregoing grant of right-of-way.

 

[SIGNATURE PAGE FOLLOWS]

 

    	P-3

    	 

    

 

IN WITNESS WHEREOF,
GRANTOR has set its hand and seal this ______ day of _____________________, 2013.

 

GRANTOR:

 

ELI LILLY AND COMPANY, an Indiana corporation

 

 

By: _________________________________

Stephen L. Van Soelen,
Director –

Strategic Real Estate
& Facilities Planning

 

 

STATE OF INDIANA            )

                                                   ) SS:

COUNTY OF MARION         )

 

Subscribed and sworn to me this ____ day
of _______________________ , 20______.

 

 

	County of Residence	 	Notary Public Signature

 

 

	Commission Expiration Date	 	Printed Name

    	P-4

    	 

    

 

The above Grant is accepted by the City
of Indianapolis, Department of Public Works.

 

RECOMMENDED FOR APPROVAL:

 

___________________________________

Stefan Wolfla, Infrastructure Manager,

Department of Code Enforcement

 

APPROVED PER LEGAL:

 

___________________________________

Joseph W. Smith

Assistant Corporation Counsel

Office of Corporation Counsel

 

CITY OF INDIANAPOLIS:

 

___________________________________

Lori Miser, Director

Department of Public Works

By Steven R. Hardiman II

Executive Assistant

 

STATE OF INDIANA)

) SS:

COUNTY OF MARION)

 

Subscribed and sworn to me this ________
day of _________________________ , 20______.

 

  

	County of Residence	 	Notary Public Signature

 

 

	Commission Expiration Date	 	Printed Name

 

 

This instrument was prepared by Richard
McDermott, Assistant Corporation Counsel, 200 E. Washington Street, Suite 1601, Indianapolis, Indiana 46204.

 

"I affirm, under the penalties for
perjury, that I have taken reasonable care to redact each Social Security number in this document, unless required by law."
Joseph W. Smith, Office of Corporation Counsel 1-24-2013

 

    	P-5

    	 

    

EXHIBIT "A"

 

EASEMENT REAL ESTATE

 

15 feet, by parallel lines, off of the entire North line of
Russell's Heir's Subdivision of Out Lot No. 26 of the Donation Lands of the City of Indianapolis, as per plat thereof recorded
in Plat Book 2, Page 24, in the Office of the Recorder of Marion County, Indiana.

 

LESS AND EXCEPT:

Part of Russell's Heirs Subdivision of
Outlot 26 of the Donation Lands of the City of Indianapolis, as per the plat thereof, recorded in Plat Book 2, Page 24 in the Marion
County Recorder's Office that lies between a plane of 719.0 feet Mean Sea Level (M.S.L.) to a plane of 745.0 feet M.S.L., more
particularly described as follows:

 

Commencing at the intersection of the North
right of way of Henry Street with the East right of way of Illinois Street; thence South 89 degrees 51 minutes 00 seconds East
(assumed bearing) along the North right of way of Henry Street 241.00 feet; thence South 00 degrees 09 minutes 00 seconds West
40.00 feet to the South right of way of Henry Street; thence up 16.5 feet, more or less, to a point on a plane of 719.0 feet above
M.S.L. which is the Point of Beginning; thence South 00 degrees 09 minutes 00 seconds West 15.00 feet to the north line of Parcel
2 described within Instrument Number 2002-247917 recorded in the Marion County Recorder's Office; thence North 89 degrees 51 minutes
00 seconds West along said north line 35.00 feet; thence North 00 degrees 09 minutes 00 seconds East 15.00 feet to the South right
of way of Henry Street; thence South 89 degrees 51 minutes 00 seconds East along said South right of way 35.00 feet to the Point
of Beginning, being 16.5 feet, more or less, above the crown of said Henry Street.

    	P-6

    	 

    

  

EXHIBIT "B"

 

Provisions as set out in Declaratory Resolution No. 16367, 1947,
recorded December 31, 1947 in Book 1285, page 448.

 

Covenants and obligations set out in a declaration of maintenance
obligation dated August 9, 2000 and recorded August 21, 2000 as Instrument No. 2000-131817.

 

Covenants and obligations set out in a declaration of maintenance
obligation dated October 26, 2000 and recorded November 9, 2000 as Instrument No. 2000-178923.

 

Provisions regulating sewer use and barring the right to object
to annexation to the City of Indianapolis set out in a Sewer Construction Agreement recorded August 31, 2000 as Instrument No.
2000-137847.

 

Provisions regulating sewer use and barring the right to object
to annexation to the City of Indianapolis set out in a Sewer Service Agreement recorded August 31, 2000 as Instrument No. 2000-137848.

 

    	P-7

    	 

    

SCHEDULE 3.1

 

DUE DILIGENCE MATERIALS

 

Title Commitment

 

Exception Documents

 

Survey

 

Final Report - Phase I Environmental Site Assessment, dated
December 20, 2010, prepared by August Mack Environmental, Inc. under AME Project #: JK1184.310

 

Leases

 

Parking Agreement

 

City Maintenance Agreement

 

Letter from Brian D. Crandall,
Rolls-Royce Corporation, to Stephen L. Van Soelen, Eli Lilly and Company, dated March 7, 2013

 

Letter from William G.
Horton, Fink Roberts & Petrie, Inc. to Stephen Van Soelen, Eli Lilly and Company, dated November 30, 2012

    	Schedule 3.1(e) - Page 1Form of Revolving Line of Credit

EXHIBIT 10.2

REVOLVING CREDIT LINE AGREEMENT

Intending to be legally bound by this Revolving Credit Line Agreement ("Agreement"), dated______________, _________________________, an individual, whose mailing address is _______________________________ ________________  (the "Lender") and INFORMATION SYSTEMS ASSOCIATES, INC., a Florida corporation, whose mailing address is 819 SW Federal Hwy, Suite 206, Stuart, FL 34994 (the "Borrower") agree as follows:

                              I. Revolving Credit

1.1      In General. Subject to the terms of this Agreement, the lender hereby establishes a credit facility in favor of the Borrower (the "Credit Facility") under which the Lender will extend credit to the Borrower from time to time until ____________(the "Credit Termination Date"), by way of Loans pursuant to Section 1.2 hereof.  Each extension of credit shall be in such amount as the Borrower may request, but the aggregate principal amount of all extensions of credit at any one time outstanding shall not exceed $_________ (the "Commitment"). At the discretion of the lender, the Borrower may obtain credit, repay without penalty and obtain further credit as provided for under this Agreement, from the date hereof until the Credit Termination Date, in either the full amount of the Commitment or any lesser sum.

1.2      Drawings. The Borrower may draw on the Commitment in the following manner(s): By obtaining a cash advance (each such cash advance herein referred to as a "Loan").

1.3      Purpose. The proceeds of the Loans and other extensions of credit under the Credit Facility shall be used exclusively for purchase order financing or other working capital purposes approved in advance.

1.4      Security. The Credit Facility and Loans and other extensions of credit shall be secured by all receivables not otherwise pledged or encumbered.

1.5      Requests for Loans or Credit. In respect of each Loan and each other extension of credit, the Borrower shall give to the Lender at least one Business Day's telephonic notice of the Borrower's request therefor (in each case confirmed prior to disbursement of the Loan or other extension of credit by a written "Notice of Borrowing" in the form of Exhibit A attached hereto).

1.6      Interest; Repayment of Loans and Credit.

         (a)    Interest Rate. Borrower agrees to pay interest on the outstanding principal balance of each Loan at a fixed rate of ____% per month calculated on the daily amount outstanding. Interest shall be computed on the basis of the actual number of days elapsed between payments and on the basis of a 365-day year (or, in leap years, on the basis of a 366-day year). The daily rate will be calculated by dividing the monthly rate times the number of months and dividing by the actual number of days in a year which for the purposes of this agreement is 366. In no event shall the Borrower be obligated to pay any amount under this Agreement that exceeds the maximum amount allowable by law. If any sum is collected in excess of the applicable maximum amount allowable by law, the excess collected shall, at the Lender's discretion, be applied to reduce the principal balance of the Loans or returned to the Borrower.

         (b)      Repayment of Loans.

                  (1)      Payment Schedule.

                           The Borrower agrees to make monthly payments to the Lender of all accrued interest on the outstanding principal balance of each Loan on the first day of each month during the term of this Agreement.

                  (2)     Currency, Place and Dates of Payments. Payments shall be made in United States money at the Lender's address stated above, or at such other place as the Lender shall have designated by written notice to the Borrower. Any payment due on a day that is not a Business Day shall be made on the next succeeding Business Day and the extension of time shall be included in the computation of interest.

                  (3)   Evidence of Making and Repayment of Loans. The Lender’s records evidencing the date of disbursement and principal amount of each Loan and the amounts of all repayments of principal and payments of interest on each Loan shall constitute prima facie evidence of the making and repayment of such Loans and of the payment of such interest. However, Lender's making of erroneous notations in its records shall not affect the Borrower's obligation to repay the outstanding balance of principal under a Loan, and accrued interest thereon, as provided in this Agreement.

1.7    Evidence of Indebtedness; Loan Documents. The Credit Facility is or is to be evidenced and/or secured by this Agreement, a Master Note in the form attached as Exhibit B and all such other documents as the Lender may require from time to time to effectuate the intent of this Agreement, together with all renewals, extensions and modifications thereto (collectively the "Loan Documents").

1.8    Borrower's Obligations. The Borrower's obligations to pay, observe, and perform all indebtedness, liabilities, covenants and other obligations on the part of the Borrower to be paid, observed and performed under this Agreement and the remainder of the Loan Documents are herein collectively called the "Obligations".

                           II. Conditions of Lending

2.1    First Loan or Other Extension of Credit. The obligation of the Lender to make the first Loan or other extension of credit under this Agreement is subject to the satisfaction of all of the following conditions on or before the date on which the Lender shall grant such Loan or other extension of credit (the "Closing Date"):

         (a)    Documents Required for Closing. The Lender shall have received, in each case in form and substance satisfactory to the Lender, such fully executed originals or certified copies as the Lender may have requested of each of the following, in each case as amended through the Closing Date:

                  (1)      Loan Documents. All of the Loan Documents.

                  (2)      Consents. Evidence that all parties to the Loan (except the Lender) have obtained all necessary and appropriate authority, approvals and consents to execute and deliver the Loan Documents.

                  (3)     Organizational Documents. If any party to the Loan Documents (except the Lender) is a corporation, partnership, trust, association or other recognized legal entity other than a natural person (a "Legal

                           Entity"), all instruments pursuant to which such Legal Entity was organized and by which its internal affairs are governed and, if requested by the Lender, a Certificate of Good Standing, evidencing such Legal Entity's good standing and authority to conduct its business in the jurisdiction(s) in which it conducts its business.

                  (4)    Insurance. Evidence of the Borrower's compliance with the provisions stated below in Section 4.6.

         (b)      Certain Other Events. On the Closing Date:

                  (1)   The representations and warranties contained in III shall be true.

                  (2)   No event shall have occurred and be continuing that (i) constitutes an Event of Default, or (ii) with the giving of notice or passage of time, or both, would constitute an Event of Default.

                  (3)     No material adverse change shall have occurred in the financial condition of the Borrower or any Guarantor since the date of the most recent of the Borrower's and Guarantor's financial statements available to the Lender.

2.2      Subsequent Loans or Extensions of Credit. The obligation of the Lender to make the second or any subsequent Loan or other extension of credit is subject to (i) the prior satisfaction of all conditions stated above in Section 2.1, (ii) the satisfaction as of the date of such subsequent Loan or other extension of credit of the conditions stated above in Sections 2.1(b)(2) through 2.1(b)(3) of this Agreement, and (iii) the delivery to the Lender of such additional Loan Documents as may have been reasonably requested by the Lender in respect to such subsequent Loan or other extension of credit.  Any subsequent loans or extensions of credit are at the sole discretion of the lender.

                      III. Representations and Warranties

To induce the Lender to make the Commitment available to the Borrower, the Borrower makes the following representations and warranties to the Lender, which representations and warranties shall survive the execution of this Agreement and continue so long as the Borrower is indebted to the Lender under the Loan Documents, and until payment in full of the Credit Facility:

3.1      Organization. The Borrower, if it is a Legal Entity, as well as each Legal Entity comprising the Borrower, is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization, and has the lawful power to own its properties and to engage in the business it conducts.

3.2      No Breach. The execution and performance of the Loan Documents will not immediately, or with the passage of time or the giving of notice, or both:

                  (1)      Violate any law or result in a default under any contract, agreement, or instrument to which the Borrower is a party or by which the Borrower or its property is bound; or

                  (2)    Result in the creation or imposition of any security interest in, or lien or encumbrance on, any of the assets of the Borrower, except in favor of the Lender.

3.3      Authorization. The Borrower has the power and authority to incur and perform the Obligations, and, if the Borrower is a Legal Entity, the Borrower has taken all corporate, partnership, or other action necessary to authorize the execution and delivery of the Loan Documents and its incurring of the Obligations.

3.4      Validity. This Agreement is, and the remainder of the Loan Documents when delivered will be, legal, valid, binding, and enforceable in accordance with their respective terms.

3.5      Financial Statements. All financial statements heretofore given by the Borrower to the Lender, including any schedules and notes pertaining thereto, were prepared in accordance with generally accepted accounting principles, consistently applied, ("GAAP") and fully and fairly present the financial condition of the Borrower at the dates thereof and the results of operations for the periods covered thereby, and as of the date of this Agreement there have been no material adverse changes in the financial condition or business of the Borrower from the date of the most recent financial statements given to the Lender.

3.6      Taxes. Except as otherwise permitted by this Agreement, the Borrower has filed all tax returns it was required by law to have filed prior to the date of this Agreement, has paid or caused to be paid all taxes, assessments, and other governmental charges that were due and payable prior to the date of this Agreement, and has made 

adequate provision for the payment of such taxes, assessments, or other charges accruing but not yet payable, and the Borrower has no knowledge of any deficiency or additional assessment in a materially important amount in connection with any taxes, assessments, or charges not provided for on its books.

3.7      Compliance with Law. Except to the extent that the failure to comply would not materially interfere with the conduct of the business of the Borrower, the Borrower has complied with all applicable laws in respect of: (1) restrictions, specifications, or other requirements pertaining to products that the Borrower sells or to the services it performs; and (2) the conduct of its business.

3.8      Statements and Omissions. No representation or warranty by the Borrower contained in this Agreement or in any certificate or other document furnished by the Borrower pursuant to this Agreement contains any untrue statement of material fact or omits to state a material fact necessary to make such representation or warranty not misleading in light of the circumstances under which it was made.

3.9      No Pending Actions. There is no pending or threatened litigation affecting the Borrower or any Collateral that may have a material adverse effect on the business of the Borrower or the Collateral.

                           IV. Affirmative Covenants

For so long as the Commitment or any of the Obligations remains outstanding, the Borrower will, unless otherwise permitted by the Lender in writing:

4.1      Payments. Punctually pay when due all sums which may be due under the Loan Documents.

4.2      Accounting Records. Maintain accurate and proper accounting records and books in accordance with GAAP, and provide the Lender with access to such books and accounting records at the Lender's request during the Lender's normal business hours.

4.3      Financial Reporting. Furnish the Lender with financial reports, certified as true and correct by the Borrower's chief financial officer, in reasonable detail and form approved by the Lender, as follows:

         (a)      Not later than 90 days after and as of the end of each fiscal year a financial statement of the Borrower, audited by a firm of independent certified public accountants acceptable to the Lender, which financial statements shall include a balance sheet  and statements of income and cash flow, all prepared in  accordance with GAAP;

         (b)      Not later than 45 days after and as of the end of each fiscal quarter Borrower's Form 10-Q pursuant to Sections 13 or 15(d) of the Securities Exchange Act of 1934;

         (c)      From time to time such other information as the Lender may reasonably request.

4.4      Existence. If the Borrower is a Legal Entity, preserve and maintain the Borrower's legal existence and timely file all necessary and appropriate documents and exhibits and pay all appropriate fees and charges in connection therewith.

4.5      Observance of Laws. Conduct the Borrower's business activities in an efficient and regular manner and comply with all requirements of all applicable state, federal and local laws, rules and regulations.

4.6      Insurance. Maintain and keep in force insurance of the types and in such amounts as are satisfactory to the Lender, and in no event less than amounts customarily carried in lines of business similar to the Borrower's, including but not limited to, property and casualty, commercial general liability and workers' compensation insurance, and provide the Lender with a schedule or schedules or certificates of insurance from time to time setting forth all insurance then in effect along with copies of all such policies.

4.7      Facilities. Keep all of the Borrower's property and business premises in a good state of repair and condition, make all necessary repairs, renewals and replacements thereto from time to time so that such property and business premises shall be fully and efficiently preserved and maintained, keep such property and business premises free and clear of all liens, charges or encumbrances except those consented to by the Lender in writing and permit the Lender's authorized representatives to make reasonable inspections of the Borrower's property and business premises.

4.8      Taxes and Other Liabilities. Pay and discharge when due all of the Borrower's indebtedness, obligations, assessments and taxes, except such as the Borrower may in good faith contest or as to which a bona fide dispute may exist, provided that the Borrower has provided evidence satisfactory to the Lender regarding the Borrower's ability to pay the disputed items in the event they are determined to be justly due.

4.9     Notice to the Lender. Promptly give notice to the Lender of (a) the occurrence of any Event of Default, (b) any change in the name or organizational structure of the Borrower, (c) any uninsured loss through fire, theft, liability or property damage exceeding $50,000.00, (d) any pending or threatened litigation affecting the Borrower or any

         

Collateral involving an amount exceeding $50,000.00, (e) any event which could have a material adverse effect on the ability of the Borrower to continue its business operations in the ordinary course, (f) any change in the Borrower's principal place of business, and (g) any change in the location of any Collateral.

4.10 Hazardous Materials. Abide at all times by all applicable hazardous laws, rules and regulations and immediately notify the Lender of any claim or threatened claim affecting any property owned, leased or occupied by the Borrower.

                             V. Negative Covenants

For so long as the Commitment or any of the Obligations remains outstanding, the Borrower will not, without the prior written consent of the Lender:

5.1      Use of Funds. Use any of the proceeds of the Commitment for any purpose except as set forth in Section 1.3 of this Agreement.

5.2      Merger, Consolidation, Sale of Stock or Assets. Merge into or consolidate with any Legal Entity, acquire or establish any operating subsidiaries or acquire all or substantially all of the capital stock or assets of any other legal entity, or (unless the Borrower is a publicly-held Legal Entity) sell, or permit to be sold, assigned, pledged or transferred, any interest in the Borrower or legal entities comprising the Borrower or any of its operating subsidiaries; or sell, assign, transfer, pledge, mortgage, or otherwise dispose of all or substantially all of the major assets of the Borrower, except in the ordinary course of its business.

5.3      Business. Materially change the character of the Borrower's current business, or engage in any type of business other than the Borrower's current business.

                       VI. The Lender's Rights Upon Default

6.1      Events of Default. Each of the following events is an "Event of Default" under this Agreement:

         (a)      The Borrower's failure to pay when due any sum payable to the Lender under the Loan Documents or under any other agreement or note between the Lender and the Borrower, whether now existing or hereafter executed;

         (b)      The Borrower's failure to perform or observe any other obligation of the Borrower to the Lender (including, without limitation, all obligations undertaken in any of the Loan Documents);

         (c)      The dissolution or insolvency of the Borrower;

         (d)      The commencement of any proceeding or the taking of any act by or against the Borrower for any relief under bankruptcy, insolvency or similar laws for the protection of debtors, or for the appointment of a receiver of the business or assets of the Borrower or the Borrower's inability (or admission ofinability) to pay his, her, or its debts as they become due;

         (e)      Any governmental authority having jurisdiction over the revokes any authorization or permit materially affecting the Borrower's ability to do business;

         (f)       The Borrower defaults in the payment of any material debt owed by the Borrower to any person or entity other than the Lender, if such default permits the acceleration of such debt;

         (g)      Any representation, warranty, or other information made or furnished by the Borrower in respect of the Credit Facility is or shall be untrue or materially misleading;

         (h)      The Lender reasonably believes there has been a material impairment of or decrease in either the Borrower's ability to pay or perform the Obligations or the value of the Collateral or any guaranty given to secure payment of the Obligations;

         (i)       A final judgment (which alone or with other outstanding final judgments) is rendered against the Borrower in an aggregate amount of $100,000 or more, and each such judgment is not  discharged or stayed pending appeal within 30 days after entry of such judgment or is not discharged within 30 days after the expiration of any such stay;

         (j)       Any third party obtains a court order enjoining or prohibiting the Borrower or the Lender from performing any of its respective obligations under the Loan Documents and such order is not discharged within 60 days after its issuance; or

         (k)      The Borrower fails to pay when due any amount relating to any plan governed by the Employee Retirement Income Security Act of 1974, as amended.

6.2      The Lender's Rights. If an Event of Default shall occur and be continuing the Lender shall have, in addition to any and all other rights and remedies, legal or equitable, available to the Lender under any and all of the Loan Documents or at law, the following additional rights and remedies:

         (a)      The absolute right to deny to the Borrower any further Loan or extension of credit (the Lender's obligation to extend any further credit to the Borrower shall immediately terminate);

         (b)      The right, at the option of the Lender, to declare, without notice, the entire principal amount and accrued interest for any Loan or extension of credit outstanding under this Agreement, plus any fees and charges reasonably incurred by the Lender under any of the Loan Documents, immediately due and payable;

                               VII. Miscellaneous

7.1      Further Assurance. From time to time within five Business Days after the Lender's demand, the Borrower will execute and deliver such additional documents and provide such additional information as may be reasonably requested by the Lender to carry out the intent of this Agreement.

7.2      Enforcement and Waiver by the Lender. The Lender shall have the right at all times to enforce the provisions of the Loan Documents, as they may be amended from time to time, in strict accordance with their terms,  notwithstanding any conduct or custom on the part of the Lender in refraining from so doing at any time or 

times. The failure of the Lender at any time or times to enforce its rights under such provisions, strictly in accordance with the same, shall not be construed as having created a custom in any way or manner contrary to specific provisions of the Loan Documents or as having in any way or manner modified or waived the same. All rights and remedies of the Lender are cumulative and concurrent and the exercise of one right or remedy shall not be deemed a waiver or release of any other right or remedy.

7.3      Expenses of the Lender. The Borrower will, on demand, reimburse to the Lender all reasonable expenses, including reasonable attorneys' fees (including allocated costs of the Lender's in-house counsel), incurred by the Lender in connection with the administration, amendment, modification, workout, or enforcement of the Loan Documents and the collection or attempted collection of the indebtedness evidenced by the Loan Documents, whether or not legal proceedings are commenced.

7.4      Notices. Any notices or consents required or permitted by this Agreement or the remainder of the Loan Documents shall be in writing and shall be deemed delivered if delivered in person or if sent by certified mail, postage prepaid, return receipt requested, or by FAX, at the addresses or FAX numbers noted below, unless such address or FAX number is changed by written notice hereunder:

         

BORROWER                               

LENDER

        

Mr. Joseph Coschera, CEO        

         

ISA, INC.                       

    

819 SW Federal Highway                   

        

Stuart, Florida  34994        

                  

PHONE: (772) 403-2992                  

         

FAX:       (772) 403-2994                    

7.5      Waiver and Release by the Borrower. To the maximum extent permitted by applicable law, the Borrower (and each of them, if more than one):

         (a)      Waives notice and opportunity to be heard, after acceleration of the indebtedness evidenced by the Loan Documents, before exercise by the Lender of the remedy of setoff or of any other remedy or procedure permitted by any applicable law or by any prior agreement with the Borrower, and, except where specifically required by this Agreement or by any applicable law, notice of any other action taken by the Lender;

         (b)      Waives presentment, demand for payment, notice of dishonor,  and any and all other notices or demands in connection with the delivery, acceptance, performance, or enforcement of this, and consents to any extension of time (and even multiple extensions of time for longer than the original term), renewals, releases of any person or organization liable for the payment of the Obligations under this Agreement, and waivers or modifications or other indulgences that may be granted or consented to by the Lender in respect of the Loans and other extensions of credit evidenced by this Agreement;           

            

                    And

         (c)      Releases the Lender and its officers, agents, and employees from all claims for loss or damage caused by any act or omission on the part of any of them except willful misconduct.

7.6      Sales and Participations. The Borrower consents to the Lender's  negotiation, offer, and sale to third parties ("Participants") of the Credit Facility or participating interests in the Credit Facility, to any and all discussions and agreements heretofore or hereafter made between the Lender and any Participant or prospective Participant regarding the interest rate, fees, and other terms and provisions to the Credit Facility, and to the Lender's disclosure to any Participant or prospective Participant, from time to time, of such financial and other information pertaining to the Borrower and the Credit Facility as the Lender and such Participant or prospective Participant may deem appropriate (whether public or non-public, confidential or non-confidential, and including 

information relating to any insurance required to be carried by the Borrower and any financial or other information bearing on the Borrower's creditworthiness and the value of any Collateral). The Borrower acknowledges that the Lender's disclosure of such information to any Participant or prospective Participant constitutes an ordinary and necessary part of the process of effectuating and servicing the Credit Facility.

7.7      Applicable Law. The laws of the State of Florida shall govern the construction of this Agreement and the rights and remedies of the parties hereto.

7.8      Binding Effect. This Agreement shall inure to the benefit of the parties hereto and their respective heirs, personal representatives, successors and permitted assigns, and shall be binding on the parties hereto and their respective heirs, personal representatives, successors and assigns.

7.9      Merger. This Agreement and the remainder of the Loan Documents constitute the full and complete agreement between the Lender and the Borrower with respect to the Credit Facility, and all prior oral and written agreements, commitments, and undertakings shall be deemed to have been merged into the Loan Documents and such prior oral and written agreements, commitments, and undertakings shall have no further force or effect, except to the extent expressly incorporated in the Loan Documents.

7.10    Amendments; Consents. No amendment, modification, supplement, or waiver of any provision of this Agreement or the other Loan Documents, and no consent to any departure by the Borrower therefrom, may in any event be effective unless in writing signed by the Lender, and then only in the specific instance and for the specific purpose given.

7.11     Assignments.

         (a)      The Borrower shall have no right to assign any of its rights or obligations under the Loan Documents without the prior written consent of the Lender.

         (b)      The Lender may sell participations in the Credit Facility, as contemplated by Section 7.6 above.

.

7.12     Severability. If any provision of any of the Loan Documents shall beheld invalid under any applicable law, such invalidity shall not affect any other provision of the Loan Documents that can be given effect without the invalid provision, and, to this end, the provisions of the Loan Documents are severable.

7.13    Time is of the Essence. Time is of the essence under and in respect of this Agreement.

7.14    Headings. The headings of the various provisions of this Agreement are inserted for convenience of reference only and shall not affect the meaning or construction of any provision.

7.15    Counterparts. This Agreement may be executed in counterparts, each of shall be an original instrument and all of which shall together constitute one and the same agreement.

7.16    Dispute Resolution. Any controversy or claim arising out of or relating to this Agreement or any of the other Loan Documents shall, at the request of either party, be decided by binding arbitration conducted in the State of Florida without a judge or jury, under the auspices of the American Arbitration. The arbitrator will apply any applicable statute of limitations and will determine any controversy concerning whether an issue is suitable for arbitration. Judgment upon the arbitration award may be entered in any court having jurisdiction. The prevailing party will be entitled to recover its reasonable attorneys' fees and costs as determined by the arbitrator. This agreement to arbitrate shall not limit or restrict the right, if any, of any party to exercise before, during or following any arbitration proceeding, with respect to any claim or controversy, self-help remedies such as setoff, to foreclose a mortgage or lien or other security interest in any Collateral judicially or by power of sale, or to obtain provisional or ancillary remedies such as injunctive relief from a court having jurisdiction. 

Either party may seek those remedies without waiving its right to submit the controversy or claim in question to arbitration.

                               VIII. Definitions

8.1      Interest Rate shall have the meaning given in Section 1.6.

8.2      Business Day shall have the meaning given in Section 1.6(b)(2).

8.3      Closing Date shall have the meaning given in Section 2.1.

8.4      Commitment shall have the meaning given in Section 1.1.

8.5      Credit Facility shall have the meaning given in Section 1.1.

8.6      Credit Termination Date shall have the meaning given in Section 1.1.

8.7      Event of Default shall have the meaning given in Section 6.1.

8.8      GAAP shall have the meaning given in Section 3.5.

8.9      Legal Entity shall have the meaning given in Section 2.1(a)(3).

8.10     Loan shall have the meaning given in Section 1.2.

8.11     Loan Documents shall have the meaning given in Section 1.8.

8.12     Notice of Borrowing shall have the meaning given in Section 1.5.

8.13     Obligations shall have the meaning given in Section 1.9.

8.14     Participant shall have the meaning given in Section 7.6.

IN WITNESS WHEREOF, the Borrower and the Lender have duly executed this Agreement.

ISA, INC.                          

_____________________

Borrower

Lender

By: ________________                       

By: _______________

   

Title: __________            

 

Lender

                                                                      

EXHIBIT A

Notice of Borrowing

DATE: 

____________

TO:       

__________________

                                                             

SUBJECT:   Revolving Credit Line Agreement (the "Agreement") dated________________, between_______________ ___________________ (the "Lender") and ISA, INC. (the "Borrower").

Pursuant to Section 1.5 of the Agreement, the Borrower hereby requests a draw under the Credit Facility and confirms the following instructions therefor (capitalized terms not defined herein shall have the respective meanings assigned in the Agreement):

FORM OF DRAWING - LOAN

           Requested Date:

___________

           Principal Amount:

___________

METHOD OF DRAWING

Wire Transfer 

Or

Credit to Borrower's Deposit Account # _____N/A_______ maintained with the Lender.

Wire funds to:

                   

ABA #:

                   

Bank Account Number:

                   

Special Instructions:

Borrower hereby certifies as follows:

         1.       The representations and warranties set forth in Article III of the Agreement are true and correct on and as of the date hereto, provided that the representations and warranties set forth in the first sentence of Section 3.5 of the Agreement shall be deemed to be made with respect to the financial statements most recently delivered to the Lender pursuant to the Agreement.

         2.       As of the date hereof, no event has occurred and is continuing (a) constitutes an Event of Default under the Agreement, or (b) with the giving of notice or passage of time, or both, would constitute an Event of Default. The Borrower has observed and performed all of the Borrower's covenants and other agreements, and satisfied every condition, contained in the Agreement and in the other Loan Documents, to be observed, performed or satisfied by the Borrower.

                                         ISA, INC.

                                         By: ____________________

                                                   Authorized Signatory

                                                                        Borrower

Exhibit B

Master Note

Amount: $__________                                                   

Location: ___________

                                                          

Date: __________

 

The undersigned ("Borrower") promises to pay to the order of ________________ ("Lender") the principal amount of $___________or so much thereof as shall have been disbursed by the Lender and may remain outstanding, together with interest on outstanding balances of principal in accordance with and under the terms of that certain Revolving Credit Line Agreement of even date, between Lender and Borrower, relating to the Credit Facility therein described.

                                          ISA, INC.

                                          By:  _______________

                                                  Title: _______

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