Document:

EX-10.9

 Exhibit 10.9 
 SIC Loan No. B2110723 
 NOTE 

 

			
	$408,000.00	  	December 19, 2012

 FOR VALUE
RECEIVED, the undersigned, VITRAN ALABAMA, LLC, a Delaware limited liability company (“Borrower”), promises to pay in lawful money of the United States, to the order of STANDARD INSURANCE COMPANY, an Oregon corporation
(together with any assigns, collectively, “Lender”), at its office in Hillsboro, Oregon, or such other place as Lender may designate, the principal amount of a loan (“Loan”) of Four Hundred Eight Thousand and No/100ths
Dollars ($408,000.00), together with interest thereon, on the following agreements, terms and conditions. 
 1.
Payments. Borrower shall make monthly payments of principal and interest to Lender, in amounts sufficient to fully amortize the principal balance of this Note over a fifteen (15) year amortization period in substantially equal
monthly payments. Such monthly payments of principal and interest shall be in the initial amount of Three Thousand Two Hundred and No/100ths Dollars ($3,200.00) payable on the first day of each month, commencing with the first
day of February, 2013, together with such other sums as may become due hereunder or under any instrument securing this Note, until the entire indebtedness is fully paid, except that any remaining indebtedness if not sooner paid shall be
finally due and payable on the first day of January, 2028, which is the maturity date of this Note (“Maturity Date”). The monthly payment amount will change after each Rate Adjustment Date (as defined in Paragraph 2) to an
amount sufficient to repay the then unpaid principal balance of this Note in full at the then current interest rate, in substantially equal monthly payments over the balance of the amortization period specified above. If applicable, until the
payment is again changed, Borrower shall pay the new monthly payment each month beginning on the first day of the first calendar month after the applicable Rate Adjustment Date. Lender will mail or deliver to Borrower a notice of any changes in the
interest rate applicable to this Note, and any resulting changes in the monthly payments required under this Note, prior to the date the first payment is due after the applicable Rate Adjustment Date. Every payment received with respect hereto shall
be applied, in any order that may be determined by Lender in its sole discretion, to sums under this Note, including, without limitation: (a) late charges; (b) expenses paid or funds advanced by Lender with interest thereon at the Default
Rate when applicable (as hereinafter defined); (c) any prepayment fees due with respect to any payment and any other fees which may remain unpaid; (d) accrued interest on the principal balance from time to time remaining unpaid; and
(e) subject to the prepayment provisions herein, the principal balance hereunder. 
 2. Interest. The interest rate
applicable to this Note will change on the applicable Rate Adjustment Dates. Interest shall be calculated on the basis of a 360-day year consisting of twelve 30-day months, except that interest due and payable for a period of less than a full month
and/or any prepayment shall be calculated on an actual accrual method. The initial interest rate included in the aforesaid payments, unless adjusted as otherwise provided in this Note, shall be calculated at the rate of Four and Seven-Eighths
percent (4.875%) per annum (“Note Rate”) upon the unpaid balance of principal of this Note. Borrower, jointly and severally, also promises 

  
 Page 1

 
to pay interest at the Note Rate from the date of disbursement of the Loan proceeds evidenced by this Note (“Disbursement Date”) to the date from which interest is included in the first
payment previously described. As used herein, “Rate Adjustment Date(s)” shall be as follows: 
  

	 	•	 	 59 months from the First Payment Date; 

  

	 	•	 	 119 months from the First Payment Date; 

  

	 	(a)	One hundred and twenty (120) days prior to each Rate Adjustment Date, Lender will notify Borrower in writing of the Adjusted Interest Rate that will become
effective in accordance with this Note. The “Adjusted Interest Rate” will be Lender’s then prevailing annual interest rate for similar loans then being originated by Lender with a similar term (equal to the period between the Rate
Adjustment Date and the earlier of the next Rate Adjustment Date or the Maturity Date) then being originated by Lender on properties comparable to the Property (as herein defined) as determined solely by Lender. 

 

	 	(a)	Borrower shall have thirty (30) days from the date of receipt of such notification from Lender to accept or reject the Adjusted Interest Rate. Failure by Borrower
to notify Lender of the acceptance or rejection of the Adjusted Interest Rate within such thirty (30) day period shall be deemed to be a rejection of the Adjusted Interest Rate. If the Adjusted Interest Rate is rejected by Borrower (or deemed
rejected), the entire unpaid principal balance of this Note, all accrued unpaid interest hereon, and any other amounts payable hereunder or under the other Loan Documents (as hereinafter defined) shall be due and payable in full, without a
Prepayment Fee, no later than the Rate Adjustment Date. 

  

	 	(b)	If Borrower accepts the Adjusted Interest Rate for the offered period, the Adjusted Interest Rate shall become effective on the Rate Adjustment Date and monthly
installments of principal and interest shall then be due and payable in an amount to be determined that will amortize the remaining unpaid principal balance of this Note at the Adjusted Interest Rate over the remaining amortization period. In such
case, Borrower shall also have the option to prepay a portion of the remaining unpaid principal balance of this Note as described in paragraph 3(e) below. 

  

	 	(c)	Thereafter, monthly installments of principal and interest on the unpaid principal balance of this Note, at the Adjusted Interest Rate, in the amount thus calculated,
shall be due and payable in consecutive monthly installments commencing on the first day of the calendar month after the Rate Adjustment Date and continuing on the first day of each calendar month thereafter, to and including the monthly installment
of principal and interest due and payable on the earlier of the next Rate Adjustment Date or the Maturity Date. 

3. Prepayment Restrictions; Fees. Borrower shall have the right to prepay, in full but not in part, the obligation
evidenced by this Note upon giving Lender (i) not less than thirty 

  
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(30) days’ prior written notice of (a) Borrower’s intention to so prepay this Note, and (b) the date upon which such prepayment will be received by Lender (“Prepayment
Date”), and (ii) payment to Lender of the Prepayment Fee (as hereinafter defined), if any, then due to Lender as hereinafter provided. 
  

	 	(a)	As used herein, the term “Prepayment Fee” shall mean an amount which is the greater of 

 

	 	(i)	one percent (1%) of the outstanding principal balance of this Note at the time of prepayment, or 

 

	 	(ii)	the sum of 

  

	 	(A)	the Present Value (as hereinafter defined) of the scheduled monthly payments due under this Note from the Prepayment Date to the earlier of the next Rate Adjustment
Date or the Maturity Date. 

  

	 	(B)	the Present Value of the amount of principal and interest due under this Note on the earlier of the next Rate Adjustment Date or the Maturity Date (assuming all
scheduled monthly payments due prior to such dates were made when due), minus 

  

	 	(C)	the outstanding principal balance of this Note as of the Prepayment Date. 

 The “Present Values” described in (A) and (B) shall be computed on a monthly basis as of the Prepayment Date discounted at a rate equal to the yield-to-maturity of the U.S. Treasury
Note or Bond closest in maturity to the earlier of the next Rate Adjustment Date or the Maturity Date as reported in The Wall Street Journal (or, if The Wall Street Journal is no longer published, as reported in such other daily financial
publication of national circulation which shall be designated by Lender) on the fifth business day preceding the Prepayment Date. Borrower shall be obligated to prepay this Note on the Prepayment Date set forth in the written notice to Lender
required hereinabove, after such notice has been delivered to Lender. 
  

	 	(b)	Notwithstanding the foregoing or any other provision herein to the contrary, if Lender elects to apply insurance proceeds, condemnation awards, or any escrowed amounts,
if applicable, to the reduction of the outstanding principal balance of this Note in the manner provided in the Deed of Trust, no Prepayment Fee shall be due or payable as a result of such application and the monthly installments due and payable
hereunder shall be reduced accordingly. 

  
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	 	(c)	In the event the Maturity Date is accelerated by Lender at any time due to a default by Borrower in the payment of principal and/or interest due under this Note or in
the performance of the terms, covenants or conditions contained in this Note, the Deed of Trust or any of the other Loan Documents (as hereinafter defined), then a tender of payment in an amount necessary to satisfy the entire outstanding principal
balance of this Note together with all accrued unpaid interest hereon made by Borrower, or by anyone on behalf of Borrower, at any time prior to, at, or as a result of, a foreclosure sale or sale pursuant to power of sale, shall constitute a
voluntary prepayment hereunder prior to the contracted Maturity Date of this Note thus requiring the payment to Lender of a Prepayment Fee equal to the applicable Prepayment Fee as set forth in paragraph (a) above; provided, however, that in
the event such Prepayment Fee is construed to be interest under the laws of the State of Oregon in any circumstance, such payment shall not be required to the extent that the amount thereof, together with other interest payable hereunder, exceeds
the maximum rate of interest that may be lawfully charged under applicable law. 

  

	 	(d)	Notwithstanding anything contained herein to the contrary, during the ninety (90) day period immediately preceding the Maturity Date of this Note, the entire
outstanding principal balance and all accrued unpaid interest on this Note may be prepaid in whole, but not in part, at par, without incurring a Prepayment Fee. 

 

	 	(e)	Notwithstanding anything contained herein to the contrary, if Borrower accepts the Adjusted Interest Rate as provided in paragraph 2 above, Borrower shall have the
right to prepay a portion of the unpaid principal balance of this Note prior to the Rate Adjustment Date, without a Prepayment Fee, provided the remaining principal balance of this Note after the prepayment may not be less than $150,000.00. Any
partial prepayment must be received by Lender no less than thirty (30) days prior to the Rate Adjustment Date. Any partial prepayment will be applied to pay down the principal balance of this Note upon Lender’s receipt of such prepayment.
The then remaining principal balance of this Note will then be used to calculate the new monthly payment amount as described in paragraph 2(d) above. 

 4. Waiver. To the extent permitted by law, each and every Borrower, surety, guarantor, endorser or signator to this Note and any other party now or hereafter liable for the payment of this Note, in
whatever capacity, whether in whole or in part hereby (a) waives notice of intent to demand, presentment for payment, notice of demand, demand, notice of nonpayment, protest, notice of protest, notice of dishonor, notice of intent to
accelerate, notice of acceleration, and all other notices, filing of suit, and diligence in collecting this Note and/or enforcing any of the security herefor; (b) agrees that Lender shall not be required first to institute suit or exhaust its
remedies against Borrower or others liable or to become liable hereon or against the Property (as hereinafter defined), it being understood that Lender may exercise its rights hereunder and pursue its remedies in any order and at any time it
desires, and may do so, without notice to or consent of any such person, and without in any way diminishing the obligations of any such 

  
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person; (c) consents to Lender dealing with any such person with reference to this Note by way of forbearance, extension, modification, compromise or otherwise; (d) consents and agrees
to any and all extensions, releases, renewals, partial payments, surrenders, exchanges, substitutions of security herefor, compromises, discharges or modifications and any other indulgence with respect to any right or obligation secured by or
provided by the Deed of Trust, Mortgage, or Deed to Secure Debt, as the case may be, securing this Note (“Deed of Trust”) or any other instrument securing this Note, before or after the maturity of this Note, without notice thereof to any
of them; or (e) consents and agrees that Lender may take any other action which Lender may deem reasonably appropriate to protect its security interest in the property securing this Note (“Property”). Any such action(s) taken under
the preceding sentence may be taken against one, all, or some of such persons, and Lender may take any such action against one differently than another of such persons, in Lender’s sole discretion. 

5. Default; Default Rate. Time is material and of the essence hereof with respect to the payment of any sums of any nature by and
the performance of all duties or obligations of the Borrower. Each of the following shall be an Event of Default under this Note: (a) failure to make any payment of principal and/or interest or any other payment required by the provisions of
this Note or of any instrument securing this Note on the date such payment or payments are due; (b) failure to perform any other provision of this Note or of any instrument securing this Note; (c) falsity in any material respect of the
warranties in the Deed of Trust or of any representation, warranty or information furnished by Borrower or its agents to Lender in connection with the loan evidenced by this Note (“Loan”); or (d) failure to pay or perform under any
Other Loan Documents (as described and defined in the Deed of Trust). Upon the occurrence of any Event of Default, any sum not paid as provided in this Note or in any instrument securing this Note, shall, at the option of Lender, without notice,
bear interest from such due date at a rate of interest (“Default Rate”) equal to four (4) percentage points per annum greater than the Note Rate, or the maximum rate of interest permitted by law, whichever is the lesser, and, at the
option of Lender, the unpaid balance of principal, accrued interest, plus any other sums due under this Note, or under any instrument securing this Note shall at once become due and payable, without notice except as described in paragraph 12, and
shall bear interest at the Default Rate. If an Event of Default occurs during a period of time in which prepayment is permitted only on payment of a prepayment fee, such fee shall be computed as if the sum declared due on default were a prepayment
and shall be added to the sums due and payable hereunder. 
 6. Late Charges. If any payment is not received by Lender
(or by the correspondent if a correspondent has been designated by Lender to receive payments) within five (5) calendar days after its due date, Lender, at its option, may assess a late charge equal to five cents for each $1.00 of each overdue
payment or the maximum late charge permitted by the laws of the state in which the Property is located, whichever is less. Such late charge shall be due and payable on demand, and Lender, at its option, may (a) refuse to accept any late payment
or any subsequent payment unless accompanied by such late charge, (b) add such late charge to the principal balance of this Note or (c) treat the failure to pay such late charge as demanded as an Event of Default hereunder. If such late
charge is added to the principal balance of this Note, it 

  
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shall bear interest at the Default Rate. The late charge is compensation for damages suffered by Lender and does not constitute interest. 

7. Acknowledgments Regarding Default Rate, Late Charges and Prepayment Charges. 

 

	 	(a)	Borrower acknowledges and agrees that (i) a default in making the payments herein agreed to be paid when due will result in the Lender incurring additional expense
in servicing the Loan, loss to Lender of the use of the money due, and frustration to Lender in meeting its other commitments, (ii) if for any reason it fails to pay any amounts due hereunder, Lender shall be entitled to damages for the
detriment caused thereby, but that it is extremely difficult and impractical to ascertain the extent of such damages, and (iii) the Default Rate and the late charge described in this Note are a reasonable estimate of such damages.

  

	 	(b)	Borrower acknowledges and agrees that (i) prepayment prior to the maturity date may result in loss to Lender, (ii) the amount of the loss will depend on the
interest rates at the time of prepayment, the amount of principal prepaid and the length of time remaining between the prepayment date and the scheduled maturity date, (iii) prepayment is most likely to occur when interest rates have dropped
below the Note Rate, and (iv) because it is extremely difficult and impractical to ascertain now the amount of loss Lender may suffer in the event of prepayment, (A) Lender shall be entitled to damages for the loss caused by prepayment and
(B) the prepayment fee described in this Note is a reasonable measure of such damages. Borrower agrees that the prepayment fee described in this Note shall be imposed, to the extent permitted by law, whether the prepayment is voluntary,
involuntary or by operation of law, in connection with an Event of Default, or required by Lender in connection with a transfer or contract to transfer the Property, provided that no prepayment fee shall be added to sums prepaid with casualty
insurance proceeds or condemnation awards. 

  

	 	(c)	Borrower expressly (i) waives any right to prepay the Loan without payment of the prepayment fee described above in connection with a transfer or contract to
transfer the Property by Borrower, or a successor in interest of the undersigned, and (ii) agrees to pay such prepayment fee as provided above in connection with such a transfer or contract to transfer. 

 

	 	(d)	Borrower represents that it is a knowledgeable real estate investor and fully understands the effect of the fees, charges, waivers and agreements contained above.
Borrower acknowledges and agrees that the making of the Loan by Lender at the interest rate and with the other terms described herein is sufficient consideration for such fees, charges, waiver and agreement, and that Lender would not make this Loan
on these terms without such fees, charges, waiver and agreement. 

  
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 8. Expenses and Attorney Fees. If Lender refers this Note to an attorney for
collection or seeks legal advice following a default alleged in good faith under this Note; if Lender is the prevailing party in any litigation instituted in connection with this Note; or if Lender or any other person initiates any judicial or
nonjudicial action, suit or proceeding, including but not limited to a foreclosure sale, in connection with this Note or the security therefor, and an attorney is employed by Lender to (a) appear in any such action, suit or proceeding,
(b) reclaim, seek relief from a judicial or statutory stay, sequester, protect, preserve or enforce Lender’s interest in this Note, the Deed of Trust, or any other security for this Note (including but not limited to proceedings at
appellate levels, under federal bankruptcy law, in eminent domain, under probate proceedings, or in connection with any state or federal tax lien), or (c) assist Lender in any foreclosure sale, then, in any such event, Borrower shall pay
attorney’s fees and costs and expenses incurred by Lender and/or its attorney in connection with the above-mentioned events and any appeals or discretionary reviews related to such events, including but not limited to costs incurred in
searching records, the cost of title reports, the cost of appraisals, and the cost of surveyors’ reports. If not paid within ten days after such fees, costs and expenses become due and written demand for payment is made upon Borrower, such
amount may, at Lender’s option, be added to the principal of this Note and shall bear interest at the Default Rate. 
 9.
No Usury. In no event shall any payment of interest or any other sum payable hereunder both (a) violate the usury laws of the state in which the Property is located and (b) allow Borrower to bring a claim for usury or raise usury as
a defense in any action on this Note. If it is established that both (a) and (b) have occurred, and any payment exceeding lawful limits has been received, Lender shall refund such excess or, at its option, credit the excess amount to
principal, but such payments shall not affect the obligation to make periodic payments required herein. 
 10. Security.
The indebtedness evidenced by this Note is secured by the Deed of Trust, Mortgage, or Deed to Secure Debt, as applicable (“Deed of Trust”), of even date and may be secured by other security instruments. 

11. Due on Sale or Encumbrance. As provided in the Deed of Trust securing this Note, and subject to any exceptions provided
therein, transfers or encumbrances of the Property, or of ownership interests in Borrower, cause all sums evidenced by this Note and/or secured by the Deed of Trust or by any other Loan Document to become immediately due and payable. By signing this
Note, Borrower acknowledges that Borrower has received and reviewed a copy of the Deed of Trust and is familiar with the provisions restricting the transfer of the Property and the ownership interests therein and assumptions of the Loan. 

12. Notice and Opportunity to Cure. Notwithstanding any other provision of this Note, Lender shall not accelerate the sums
evidenced hereby because of a nonmonetary default (defined below) by Borrower unless Borrower fails to cure the default within fifteen (15) days of the earlier of the date on which Lender mails or delivers written notice of the default to
Borrower. For purposes of this Note, the term “nonmonetary default” means a failure by Borrower or any other person or entity to perform any obligation contained in this Note or any other document or instrument evidencing or securing the
Loan (collectively, “Loan 

  
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Documents”), other than the obligation to make payments provided for in this Note or any other Loan Document. If a nonmonetary default is capable of being cured and the cure cannot
reasonably be completed within the fifteen (15) day cure period, the cure period shall be extended up to sixty (60) days so long as Borrower has commenced action to cure within the fifteen (15) day cure period, and in Lender’s
opinion, Borrower is proceeding to cure the default with due diligence. No notice of default and no opportunity to cure shall be required if during any 12-month period Lender has already sent a notice to Borrower concerning default in the
performance of the same obligation. None of the foregoing shall be construed to obligate Lender to forebear in any other manner from exercising its remedies and Lender may pursue any other rights or remedies which Lender may have because of a
default. 
 13. Commercial Purpose. The obligation evidenced by this Note is exclusively for commercial or business
purposes. 
 14. Notices. All notices required or permitted under this Note shall be in writing and may be
telecopies, cabled, delivered by hand, or mailed by first class registered or certified mail, return receipt requested, postage prepaid, and addressed as follows: 
 If to Lender: 
 STANDARD INSURANCE COMPANY

 c/o StanCorp Mortgage Investors, LLC 
 Attn: Mortgage Loan Servicing T3A 
 19225 NW Tanasbourne Drive

 Hillsboro, OR 97124 
 If to Borrower: 
 VITRAN ALABAMA, LLC

 Attn: Chris Keylon 
 P.O. Box 1290 (for U.S.P.S. mail delivery) 
 2850 Kramer Road (for
courier or other delivery) 
 Gibsonia, PA 15044 

Changes in the respective addresses to which such notices shall be directed may be from time to time by either party by notice to the
other party given at least ten (10) days before such change of address is to become effective. Notices given by mail in accordance with this provision shall be deemed to have been given three (3) days after the date of dispatch; notices
given by any other means shall be deemed to have been given when received. 
 15. Choice of Law, Jurisdiction and Venue;
Enforceability; Severability. Except for matters relating to the validity and/or enforcement of the security interest of Lender in the Property, which shall be determined in accordance with the applicable laws of the state in which the affected
Property is situated, the law of the state of Oregon shall govern the validity, interpretation, construction, performance and enforcement of this Note and any and all other 

  
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Loan Documents. If, for any reason or to any extent any word, term, provision, or clause of this Note or any of the other Loan Documents, or its application to any person or situation, shall be
found by a court or other adjudicating authority to be invalid or unenforceable, the remaining words, terms, provisions, or clauses shall be enforced, and the affected work, term, clause, or provision shall be applied, to the fullest extent
permitted by law. Borrower irrevocably submits to the jurisdiction of Multnomah County state or Portland, Oregon federal court in any action or proceeding brought to enforce or otherwise arising out of or relating to this Note or any of the
other Loan Documents, and waives any claim that such forum is inappropriate and/or an inconvenient forum. 
 16. Successors
and Assigns. Whenever used herein, the words “undersigned”, “Borrower” and “Lender” shall be deemed to include their respective heirs, devisees, executors, administrators, personal representatives, successors and
assigns. 
 NOTICES TO BORROWER 
 DO NOT SIGN THIS NOTE BEFORE YOU READ IT. THIS NOTE PROVIDES FOR THE PAYMENT OF A FEE IF THIS NOTE IS PREPAID PRIOR TO THE DATE PROVIDED FOR REPAYMENT IN THIS NOTE AND OTHER CHARGES IF PAYMENTS ARE
LATE. IF YOU HAVE ANY QUESTIONS ABOUT THIS NOTE, YOU SHOULD CONSULT YOUR ATTORNEY. 
 ORS 41.580 Disclosure. UNDER OREGON
LAW, MOST AGREEMENTS, PROMISES AND COMMITMENTS BY LENDER, CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES, OR SECURED SOLELY BY THE BORROWER’S RESIDENCE MUST BE IN WRITING, EXPRESS
CONSIDERATION AND BE SIGNED BY AN AUTHORIZED REPRESENTATIVE OF LENDER TO BE ENFORCEABLE. 
 BORROWER: 

VITRAN ALABAMA, LLC, 
 a Delaware
limited liability company 
  

			
	By:	 	 /s/ CHRIS KEYLON

		 	CHRIS KEYLON
		 	Its: Authorized Manager

  
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 SIC Loan No. B2110726 

NOTE 
  

			
	$191,000.00	  	December 19, 2012

 FOR VALUE
RECEIVED, the undersigned, VITRAN GEORGIA, LLC, a Delaware limited liability company (“Borrower”), promises to pay in lawful money of the United States, to the order of STANDARD INSURANCE COMPANY, an Oregon corporation
(together with any assigns, collectively, “Lender”), at its office in Hillsboro, Oregon, or such other place as Lender may designate, the principal amount of a loan (“Loan”) of One Hundred Ninety-One Thousand and No/100ths
Dollars ($191,000.00), together with interest thereon, on the following agreements, terms and conditions. 
 1.
Payments. Borrower shall make monthly payments of principal and interest to Lender, in amounts sufficient to fully amortize the principal balance of this Note over a fifteen (15) year amortization period in substantially equal
monthly payments. Such monthly payments of principal and interest shall be in the initial amount of One Thousand Four Hundred Ninety-Nine and No/100ths Dollars ($1,499.00) payable on the first day of each month, commencing with the
first day of February, 2013, together with such other sums as may become due hereunder or under any instrument securing this Note, until the entire indebtedness is fully paid, except that any remaining indebtedness if not sooner paid
shall be finally due and payable on the first day of January, 2028, which is the maturity date of this Note (“Maturity Date”). The monthly payment amount will change after each Rate Adjustment Date (as defined in Paragraph 2)
to an amount sufficient to repay the then unpaid principal balance of this Note in full at the then current interest rate, in substantially equal monthly payments over the balance of the amortization period specified above. If applicable, until the
payment is again changed, Borrower shall pay the new monthly payment each month beginning on the first day of the first calendar month after the applicable Rate Adjustment Date. Lender will mail or deliver to Borrower a notice of any changes in the
interest rate applicable to this Note, and any resulting changes in the monthly payments required under this Note, prior to the date the first payment is due after the applicable Rate Adjustment Date. Every payment received with respect hereto shall
be applied, in any order that may be determined by Lender in its sole discretion, to sums under this Note, including, without limitation: (a) late charges; (b) expenses paid or funds advanced by Lender with interest thereon at the Default
Rate when applicable (as hereinafter defined); (c) any prepayment fees due with respect to any payment and any other fees which may remain unpaid; (d) accrued interest on the principal balance from time to time remaining unpaid; and
(e) subject to the prepayment provisions herein, the principal balance hereunder. 
 2. Interest. The interest rate
applicable to this Note will change on the applicable Rate Adjustment Dates. Interest shall be calculated on the basis of a 360-day year consisting of twelve 30-day months, except that interest due and payable for a period of less than a full month
and/or any prepayment shall be calculated on an actual accrual method. The initial interest rate included in the aforesaid payments, unless adjusted as otherwise provided in this Note, shall be calculated at the rate of Four and Seven-Eighths
percent (4.875%) per annum (“Note Rate”) upon the unpaid balance of principal of this Note. Borrower, jointly and severally, also promises 

  
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to pay interest at the Note Rate from the date of disbursement of the Loan proceeds evidenced by this Note (“Disbursement Date”) to the date from which interest is included in the first
payment previously described. As used herein, “Rate Adjustment Date(s)” shall be as follows: 
  

	 	•	 	 59 months from the First Payment Date; 

  

	 	•	 	 119 months from the First Payment Date; 

  

	 	(a)	One hundred and twenty (120) days prior to each Rate Adjustment Date, Lender will notify Borrower in writing of the Adjusted Interest Rate that will become
effective in accordance with this Note. The “Adjusted Interest Rate” will be Lender’s then prevailing annual interest rate for similar loans then being originated by Lender with a similar term (equal to the period between the Rate
Adjustment Date and the earlier of the next Rate Adjustment Date or the Maturity Date) then being originated by Lender on properties comparable to the Property (as herein defined) as determined solely by Lender. 

 

	 	(a)	Borrower shall have thirty (30) days from the date of receipt of such notification from Lender to accept or reject the Adjusted Interest Rate. Failure by Borrower
to notify Lender of the acceptance or rejection of the Adjusted Interest Rate within such thirty (30) day period shall be deemed to be a rejection of the Adjusted Interest Rate. If the Adjusted Interest Rate is rejected by Borrower (or deemed
rejected), the entire unpaid principal balance of this Note, all accrued unpaid interest hereon, and any other amounts payable hereunder or under the other Loan Documents (as hereinafter defined) shall be due and payable in full, without a
Prepayment Fee, no later than the Rate Adjustment Date. 

  

	 	(b)	If Borrower accepts the Adjusted Interest Rate for the offered period, the Adjusted Interest Rate shall become effective on the Rate Adjustment Date and monthly
installments of principal and interest shall then be due and payable in an amount to be determined that will amortize the remaining unpaid principal balance of this Note at the Adjusted Interest Rate over the remaining amortization period. In such
case, Borrower shall also have the option to prepay a portion of the remaining unpaid principal balance of this Note as described in paragraph 3(e) below. 

  

	 	(c)	Thereafter, monthly installments of principal and interest on the unpaid principal balance of this Note, at the Adjusted Interest Rate, in the amount thus calculated,
shall be due and payable in consecutive monthly installments commencing on the first day of the calendar month after the Rate Adjustment Date and continuing on the first day of each calendar month thereafter, to and including the monthly installment
of principal and interest due and payable on the earlier of the next Rate Adjustment Date or the Maturity Date. 

3. Prepayment Restrictions; Fees. Borrower shall have the right to prepay, in full but not in part, the obligation
evidenced by this Note upon giving Lender (i) not less than thirty 

  
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(30) days’ prior written notice of (a) Borrower’s intention to so prepay this Note, and (b) the date upon which such prepayment will be received by Lender (“Prepayment
Date”), and (ii) payment to Lender of the Prepayment Fee (as hereinafter defined), if any, then due to Lender as hereinafter provided. 
  

	 	(a)	As used herein, the term “Prepayment Fee” shall mean an amount which is the greater of 

 

	 	(i)	one percent (1%) of the outstanding principal balance of this Note at the time of prepayment, or 

 

	 	(ii)	the sum of 

  

	 	(A)	the Present Value (as hereinafter defined) of the scheduled monthly payments due under this Note from the Prepayment Date to the earlier of the next Rate Adjustment
Date or the Maturity Date. 

  

	 	(B)	the Present Value of the amount of principal and interest due under this Note on the earlier of the next Rate Adjustment Date or the Maturity Date (assuming all
scheduled monthly payments due prior to such dates were made when due), minus 

  

	 	(C)	the outstanding principal balance of this Note as of the Prepayment Date. 

 The “Present Values” described in (A) and (B) shall be computed on a monthly basis as of the Prepayment Date discounted at a rate equal to the yield-to-maturity of the U.S. Treasury
Note or Bond closest in maturity to the earlier of the next Rate Adjustment Date or the Maturity Date as reported in The Wall Street Journal (or, if The Wall Street Journal is no longer published, as reported in such other daily financial
publication of national circulation which shall be designated by Lender) on the fifth business day preceding the Prepayment Date. Borrower shall be obligated to prepay this Note on the Prepayment Date set forth in the written notice to Lender
required hereinabove, after such notice has been delivered to Lender. 
  

	 	(b)	Notwithstanding the foregoing or any other provision herein to the contrary, if Lender elects to apply insurance proceeds, condemnation awards, or any escrowed amounts,
if applicable, to the reduction of the outstanding principal balance of this Note in the manner provided in the Deed of Trust, no Prepayment Fee shall be due or payable as a result of such application and the monthly installments due and payable
hereunder shall be reduced accordingly. 

  
 Page 3

	 	(c)	In the event the Maturity Date is accelerated by Lender at any time due to a default by Borrower in the payment of principal and/or interest due under this Note or in
the performance of the terms, covenants or conditions contained in this Note, the Deed of Trust or any of the other Loan Documents (as hereinafter defined), then a tender of payment in an amount necessary to satisfy the entire outstanding principal
balance of this Note together with all accrued unpaid interest hereon made by Borrower, or by anyone on behalf of Borrower, at any time prior to, at, or as a result of, a foreclosure sale or sale pursuant to power of sale, shall constitute a
voluntary prepayment hereunder prior to the contracted Maturity Date of this Note thus requiring the payment to Lender of a Prepayment Fee equal to the applicable Prepayment Fee as set forth in paragraph (a) above; provided, however, that in
the event such Prepayment Fee is construed to be interest under the laws of the State of Oregon in any circumstance, such payment shall not be required to the extent that the amount thereof, together with other interest payable hereunder, exceeds
the maximum rate of interest that may be lawfully charged under applicable law. 

  

	 	(d)	Notwithstanding anything contained herein to the contrary, during the ninety (90) day period immediately preceding the Maturity Date of this Note, the entire
outstanding principal balance and all accrued unpaid interest on this Note may be prepaid in whole, but not in part, at par, without incurring a Prepayment Fee. 

 

	 	(e)	Notwithstanding anything contained herein to the contrary, if Borrower accepts the Adjusted Interest Rate as provided in paragraph 2 above, Borrower shall have the
right to prepay a portion of the unpaid principal balance of this Note prior to the Rate Adjustment Date, without a Prepayment Fee, provided the remaining principal balance of this Note after the prepayment may not be less than $150,000.00. Any
partial prepayment must be received by Lender no less than thirty (30) days prior to the Rate Adjustment Date. Any partial prepayment will be applied to pay down the principal balance of this Note upon Lender’s receipt of such prepayment.
The then remaining principal balance of this Note will then be used to calculate the new monthly payment amount as described in paragraph 2(d) above. 

 4. Waiver. To the extent permitted by law, each and every Borrower, surety, guarantor, endorser or signator to this Note and any other party now or hereafter liable for the payment of this Note, in
whatever capacity, whether in whole or in part hereby (a) waives notice of intent to demand, presentment for payment, notice of demand, demand, notice of nonpayment, protest, notice of protest, notice of dishonor, notice of intent to
accelerate, notice of acceleration, and all other notices, filing of suit, and diligence in collecting this Note and/or enforcing any of the security herefor; (b) agrees that Lender shall not be required first to institute suit or exhaust its
remedies against Borrower or others liable or to become liable hereon or against the Property (as hereinafter defined), it being understood that Lender may exercise its rights hereunder and pursue its remedies in any order and at any time it
desires, and may do so, without notice to or consent of any such person, and without in any way diminishing the obligations of any such 

  
 Page 4

 person; (c) consents to Lender dealing with any such person with reference to this Note by way of
forbearance, extension, modification, compromise or otherwise; (d) consents and agrees to any and all extensions, releases, renewals, partial payments, surrenders, exchanges, substitutions of security herefor, compromises, discharges or
modifications and any other indulgence with respect to any right or obligation secured by or provided by the Deed of Trust, Mortgage, or Deed to Secure Debt, as the case may be, securing this Note (“Deed of Trust”) or any other instrument
securing this Note, before or after the maturity of this Note, without notice thereof to any of them; or (e) consents and agrees that Lender may take any other action which Lender may deem reasonably appropriate to protect its security interest
in the property securing this Note (“Property”). Any such action(s) taken under the preceding sentence may be taken against one, all, or some of such persons, and Lender may take any such action against one differently than another of such
persons, in Lender’s sole discretion. 
 5. Default; Default Rate. Time is material and of the essence hereof with
respect to the payment of any sums of any nature by and the performance of all duties or obligations of the Borrower. Each of the following shall be an Event of Default under this Note: (a) failure to make any payment of principal and/or
interest or any other payment required by the provisions of this Note or of any instrument securing this Note on the date such payment or payments are due; (b) failure to perform any other provision of this Note or of any instrument securing
this Note; (c) falsity in any material respect of the warranties in the Deed of Trust or of any representation, warranty or information furnished by Borrower or its agents to Lender in connection with the loan evidenced by this Note
(“Loan”); or (d) failure to pay or perform under any Other Loan Documents (as described and defined in the Deed of Trust). Upon the occurrence of any Event of Default, any sum not paid as provided in this Note or in any instrument
securing this Note, shall, at the option of Lender, without notice, bear interest from such due date at a rate of interest (“Default Rate”) equal to four (4) percentage points per annum greater than the Note Rate, or the maximum rate
of interest permitted by law, whichever is the lesser, and, at the option of Lender, the unpaid balance of principal, accrued interest, plus any other sums due under this Note, or under any instrument securing this Note shall at once become due and
payable, without notice except as described in paragraph 12, and shall bear interest at the Default Rate. If an Event of Default occurs during a period of time in which prepayment is permitted only on payment of a prepayment fee, such fee shall be
computed as if the sum declared due on default were a prepayment and shall be added to the sums due and payable hereunder. 
 6.
Late Charges. If any payment is not received by Lender (or by the correspondent if a correspondent has been designated by Lender to receive payments) within five (5) calendar days after its due date, Lender, at its option, may assess a
late charge equal to five cents for each $1.00 of each overdue payment or the maximum late charge permitted by the laws of the state in which the Property is located, whichever is less. Such late charge shall be due and payable on demand, and
Lender, at its option, may (a) refuse to accept any late payment or any subsequent payment unless accompanied by such late charge, (b) add such late charge to the principal balance of this Note or (c) treat the failure to pay such
late charge as demanded as an Event of Default hereunder. If such late charge is added to the principal balance of this Note, it 

  
 Page 5

 
shall bear interest at the Default Rate. The late charge is compensation for damages suffered by Lender and does not constitute interest. 

7. Acknowledgments Regarding Default Rate, Late Charges and Prepayment Charges. 

 

	 	(a)	Borrower acknowledges and agrees that (i) a default in making the payments herein agreed to be paid when due will result in the Lender incurring additional expense
in servicing the Loan, loss to Lender of the use of the money due, and frustration to Lender in meeting its other commitments, (ii) if for any reason it fails to pay any amounts due hereunder, Lender shall be entitled to damages for the
detriment caused thereby, but that it is extremely difficult and impractical to ascertain the extent of such damages, and (iii) the Default Rate and the late charge described in this Note are a reasonable estimate of such damages.

  

	 	(b)	Borrower acknowledges and agrees that (i) prepayment prior to the maturity date may result in loss to Lender, (ii) the amount of the loss will depend on the
interest rates at the time of prepayment, the amount of principal prepaid and the length of time remaining between the prepayment date and the scheduled maturity date, (iii) prepayment is most likely to occur when interest rates have dropped
below the Note Rate, and (iv) because it is extremely difficult and impractical to ascertain now the amount of loss Lender may suffer in the event of prepayment, (A) Lender shall be entitled to damages for the loss caused by prepayment and
(B) the prepayment fee described in this Note is a reasonable measure of such damages. Borrower agrees that the prepayment fee described in this Note shall be imposed, to the extent permitted by law, whether the prepayment is voluntary,
involuntary or by operation of law, in connection with an Event of Default, or required by Lender in connection with a transfer or contract to transfer the Property, provided that no prepayment fee shall be added to sums prepaid with casualty
insurance proceeds or condemnation awards. 

  

	 	(c)	Borrower expressly (i) waives any right to prepay the Loan without payment of the prepayment fee described above in connection with a transfer or contract to
transfer the Property by Borrower, or a successor in interest of the undersigned, and (ii) agrees to pay such prepayment fee as provided above in connection with such a transfer or contract to transfer. 

 

	 	(d)	Borrower represents that it is a knowledgeable real estate investor and fully understands the effect of the fees, charges, waivers and agreements contained above.
Borrower acknowledges and agrees that the making of the Loan by Lender at the interest rate and with the other terms described herein is sufficient consideration for such fees, charges, waiver and agreement, and that Lender would not make this Loan
on these terms without such fees, charges, waiver and agreement. 

  
 Page 6

 8. Expenses and Attorney Fees. If Lender refers this Note to an attorney for
collection or seeks legal advice following a default alleged in good faith under this Note; if Lender is the prevailing party in any litigation instituted in connection with this Note; or if Lender or any other person initiates any judicial or
nonjudicial action, suit or proceeding, including but not limited to a foreclosure sale, in connection with this Note or the security therefor, and an attorney is employed by Lender to (a) appear in any such action, suit or proceeding,
(b) reclaim, seek relief from a judicial or statutory stay, sequester, protect, preserve or enforce Lender’s interest in this Note, the Deed of Trust, or any other security for this Note (including but not limited to proceedings at
appellate levels, under federal bankruptcy law, in eminent domain, under probate proceedings, or in connection with any state or federal tax lien), or (c) assist Lender in any foreclosure sale, then, in any such event, Borrower shall pay
attorney’s fees and costs and expenses incurred by Lender and/or its attorney in connection with the above-mentioned events and any appeals or discretionary reviews related to such events, including but not limited to costs incurred in
searching records, the cost of title reports, the cost of appraisals, and the cost of surveyors’ reports. If not paid within ten days after such fees, costs and expenses become due and written demand for payment is made upon Borrower, such
amount may, at Lender’s option, be added to the principal of this Note and shall bear interest at the Default Rate. 
 9.
No Usury. In no event shall any payment of interest or any other sum payable hereunder both (a) violate the usury laws of the state in which the Property is located and (b) allow Borrower to bring a claim for usury or raise usury as
a defense in any action on this Note. If it is established that both (a) and (b) have occurred, and any payment exceeding lawful limits has been received, Lender shall refund such excess or, at its option, credit the excess amount to
principal, but such payments shall not affect the obligation to make periodic payments required herein. 
 10. Security.
The indebtedness evidenced by this Note is secured by the Deed of Trust, Mortgage, or Deed to Secure Debt, as applicable (“Deed of Trust”), of even date and may be secured by other security instruments. 

11. Due on Sale or Encumbrance. As provided in the Deed of Trust securing this Note, and subject to any exceptions provided
therein, transfers or encumbrances of the Property, or of ownership interests in Borrower, cause all sums evidenced by this Note and/or secured by the Deed of Trust or by any other Loan Document to become immediately due and payable. By signing this
Note, Borrower acknowledges that Borrower has received and reviewed a copy of the Deed of Trust and is familiar with the provisions restricting the transfer of the Property and the ownership interests therein and assumptions of the Loan. 

12. Notice and Opportunity to Cure. Notwithstanding any other provision of this Note, Lender shall not accelerate the sums
evidenced hereby because of a nonmonetary default (defined below) by Borrower unless Borrower fails to cure the default within fifteen (15) days of the earlier of the date on which Lender mails or delivers written notice of the default to
Borrower. For purposes of this Note, the term “nonmonetary default” means a failure by Borrower or any other person or entity to perform any obligation contained in this Note or any other document or instrument evidencing or securing the
Loan (collectively, “Loan 

  
 Page 7

 
Documents”), other than the obligation to make payments provided for in this Note or any other Loan Document. If a nonmonetary default is capable of being cured and the cure cannot
reasonably be completed within the fifteen (15) day cure period, the cure period shall be extended up to sixty (60) days so long as Borrower has commenced action to cure within the fifteen (15) day cure period, and in Lender’s
opinion, Borrower is proceeding to cure the default with due diligence. No notice of default and no opportunity to cure shall be required if during any 12-month period Lender has already sent a notice to Borrower concerning default in the
performance of the same obligation. None of the foregoing shall be construed to obligate Lender to forebear in any other manner from exercising its remedies and Lender may pursue any other rights or remedies which Lender may have because of a
default. 
 13. Commercial Purpose. The obligation evidenced by this Note is exclusively for commercial or business
purposes. 
 14. Notices. All notices required or permitted under this Note shall be in writing and may be
telecopies, cabled, delivered by hand, or mailed by first class registered or certified mail, return receipt requested, postage prepaid, and addressed as follows: 
 If to Lender: 
 STANDARD INSURANCE COMPANY

 c/o StanCorp Mortgage Investors, LLC 
 Attn: Mortgage Loan Servicing T3A 
 19225 NW Tanasbourne Drive

 Hillsboro, OR 97124 
 If to Borrower: 
 VITRAN
GEORGIA, LLC 
 Attn: Chris Keylon 
 P.O. Box 1290 (for U.S.P.S. mail delivery) 
 2850 Kramer Road (for
courier or other delivery) 
 Gibsonia, PA 15044 

Changes in the respective addresses to which such notices shall be directed may be from time to time by either party by notice to the
other party given at least ten (10) days before such change of address is to become effective. Notices given by mail in accordance with this provision shall be deemed to have been given three (3) days after the date of dispatch; notices
given by any other means shall be deemed to have been given when received. 
 15. Choice of Law, Jurisdiction and Venue;
Enforceability; Severability. Except for matters relating to the validity and/or enforcement of the security interest of Lender in the Property, which shall be determined in accordance with the applicable laws of the state in which the affected
Property is situated, the law of the state of Oregon shall govern the validity, interpretation, construction, performance and enforcement of this Note and any and all other 

  
 Page 8

 
Loan Documents. If, for any reason or to any extent any word, term, provision, or clause of this Note or any of the other Loan Documents, or its application to any person or situation, shall be
found by a court or other adjudicating authority to be invalid or unenforceable, the remaining words, terms, provisions, or clauses shall be enforced, and the affected work, term, clause, or provision shall be applied, to the fullest extent
permitted by law. Borrower irrevocably submits to the jurisdiction of Multnomah County state or Portland, Oregon federal court in any action or proceeding brought to enforce or otherwise arising out of or relating to this Note or any of the
other Loan Documents, and waives any claim that such forum is inappropriate and/or an inconvenient forum. 
 16. Successors
and Assigns. Whenever used herein, the words “undersigned”, “Borrower” and “Lender” shall be deemed to include their respective heirs, devisees, executors, administrators, personal representatives, successors and
assigns. 
 NOTICES TO BORROWER 
 DO NOT SIGN THIS NOTE BEFORE YOU READ IT. THIS NOTE PROVIDES FOR THE PAYMENT OF A FEE IF THIS NOTE IS PREPAID PRIOR TO THE DATE PROVIDED FOR REPAYMENT IN THIS NOTE AND OTHER CHARGES IF PAYMENTS ARE
LATE. IF YOU HAVE ANY QUESTIONS ABOUT THIS NOTE, YOU SHOULD CONSULT YOUR ATTORNEY. 
 ORS 41.580 Disclosure. UNDER OREGON
LAW, MOST AGREEMENTS, PROMISES AND COMMITMENTS BY LENDER, CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES, OR SECURED SOLELY BY THE BORROWER’S RESIDENCE MUST BE IN WRITING, EXPRESS
CONSIDERATION AND BE SIGNED BY AN AUTHORIZED REPRESENTATIVE OF LENDER TO BE ENFORCEABLE. 
 BORROWER: 

VITRAN GEORGIA, LLC, 
 a Delaware
limited liability company 
  

			
	By:	 	 /s/ CHRIS KEYLON

		 	CHRIS KEYLON
		 	Its: Authorized Manager

  
 Page 9

 SIC Loan No. B2110724 

NOTE 
  

			
	$1,208,000.00	  	December 19, 2012

 FOR VALUE RECEIVED, the undersigned, VITRAN ILLINOIS, LLC, a Delaware limited liability company
(“Borrower”), promises to pay in lawful money of the United States, to the order of STANDARD INSURANCE COMPANY, an Oregon corporation (together with any assigns, collectively, “Lender”), at its office in Hillsboro, Oregon,
or such other place as Lender may designate, the principal amount of a loan (“Loan”) of One Million Two Hundred Eight Thousand and No/100ths Dollars ($1,208,000.00), together with interest thereon, on the following
agreements, terms and conditions. 
 1. Payments. Borrower shall make monthly payments of principal and interest to
Lender, in amounts sufficient to fully amortize the principal balance of this Note over a fifteen (15) year amortization period in substantially equal monthly payments. Such monthly payments of principal and interest shall be in the initial
amount of Nine Thousand Four Hundred Seventy-Five and No/100ths Dollars ($9,475.00) payable on the first day of each month, commencing with the first day of February, 2013, together with such other sums as may become due
hereunder or under any instrument securing this Note, until the entire indebtedness is fully paid, except that any remaining indebtedness if not sooner paid shall be finally due and payable on the first day of January, 2028, which is
the maturity date of this Note (“Maturity Date”). The monthly payment amount will change after each Rate Adjustment Date (as defined in Paragraph 2) to an amount sufficient to repay the then unpaid principal balance of this Note in full at
the then current interest rate, in substantially equal monthly payments over the balance of the amortization period specified above. If applicable, until the payment is again changed, Borrower shall pay the new monthly payment each month beginning
on the first day of the first calendar month after the applicable Rate Adjustment Date. Lender will mail or deliver to Borrower a notice of any changes in the interest rate applicable to this Note, and any resulting changes in the monthly payments
required under this Note, prior to the date the first payment is due after the applicable Rate Adjustment Date. Every payment received with respect hereto shall be applied, in any order that may be determined by Lender in its sole discretion, to
sums under this Note, including, without limitation: (a) late charges; (b) expenses paid or funds advanced by Lender with interest thereon at the Default Rate when applicable (as hereinafter defined); (c) any prepayment fees due with
respect to any payment and any other fees which may remain unpaid; (d) accrued interest on the principal balance from time to time remaining unpaid; and (e) subject to the prepayment provisions herein, the principal balance hereunder.

 2. Interest. The interest rate applicable to this Note will change on the applicable Rate Adjustment Dates. Interest
shall be calculated on the basis of a 360-day year consisting of twelve 30-day months, except that interest due and payable for a period of less than a full month and/or any prepayment shall be calculated on an actual accrual method. The initial
interest rate included in the aforesaid payments, unless adjusted as otherwise provided in this Note, shall be calculated at the rate of Four and Seven-Eighths percent (4.875%) per annum (“Note Rate”) upon the unpaid
balance of principal of this Note. Borrower, jointly and severally, also promises 

  
 Page 1

 
to pay interest at the Note Rate from the date of disbursement of the Loan proceeds evidenced by this Note (“Disbursement Date”) to the date from which interest is included in the first
payment previously described. As used herein, “Rate Adjustment Date(s)” shall be as follows: 
  

	 	•	 	 59 months from the First Payment Date; 

  

	 	•	 	 119 months from the First Payment Date; 

  

	 	(a)	One hundred and twenty (120) days prior to each Rate Adjustment Date, Lender will notify Borrower in writing of the Adjusted Interest Rate that will become
effective in accordance with this Note. The “Adjusted Interest Rate” will be Lender’s then prevailing annual interest rate for similar loans then being originated by Lender with a similar term (equal to the period between the Rate
Adjustment Date and the earlier of the next Rate Adjustment Date or the Maturity Date) then being originated by Lender on properties comparable to the Property (as herein defined) as determined solely by Lender. 

 

	 	(a)	Borrower shall have thirty (30) days from the date of receipt of such notification from Lender to accept or reject the Adjusted Interest Rate. Failure by Borrower
to notify Lender of the acceptance or rejection of the Adjusted Interest Rate within such thirty (30) day period shall be deemed to be a rejection of the Adjusted Interest Rate. If the Adjusted Interest Rate is rejected by Borrower (or deemed
rejected), the entire unpaid principal balance of this Note, all accrued unpaid interest hereon, and any other amounts payable hereunder or under the other Loan Documents (as hereinafter defined) shall be due and payable in full, without a
Prepayment Fee, no later than the Rate Adjustment Date. 

  

	 	(b)	If Borrower accepts the Adjusted Interest Rate for the offered period, the Adjusted Interest Rate shall become effective on the Rate Adjustment Date and monthly
installments of principal and interest shall then be due and payable in an amount to be determined that will amortize the remaining unpaid principal balance of this Note at the Adjusted Interest Rate over the remaining amortization period. In such
case, Borrower shall also have the option to prepay a portion of the remaining unpaid principal balance of this Note as described in paragraph 3(e) below. 

  

	 	(c)	Thereafter, monthly installments of principal and interest on the unpaid principal balance of this Note, at the Adjusted Interest Rate, in the amount thus calculated,
shall be due and payable in consecutive monthly installments commencing on the first day of the calendar month after the Rate Adjustment Date and continuing on the first day of each calendar month thereafter, to and including the monthly installment
of principal and interest due and payable on the earlier of the next Rate Adjustment Date or the Maturity Date. 

3. Prepayment Restrictions; Fees. Borrower shall have the right to prepay, in full but not in part, the obligation
evidenced by this Note upon giving Lender (i) not less than thirty 

  
 Page 2

 
(30) days’ prior written notice of (a) Borrower’s intention to so prepay this Note, and (b) the date upon which such prepayment will be received by Lender (“Prepayment
Date”), and (ii) payment to Lender of the Prepayment Fee (as hereinafter defined), if any, then due to Lender as hereinafter provided. 
  

	 	(a)	As used herein, the term “Prepayment Fee” shall mean an amount which is the greater of 

 

	 	(i)	one percent (1%) of the outstanding principal balance of this Note at the time of prepayment, or 

 

	 	(ii)	the sum of 

  

	 	(A)	the Present Value (as hereinafter defined) of the scheduled monthly payments due under this Note from the Prepayment Date to the earlier of the next Rate Adjustment
Date or the Maturity Date. 

  

	 	(B)	the Present Value of the amount of principal and interest due under this Note on the earlier of the next Rate Adjustment Date or the Maturity Date (assuming all
scheduled monthly payments due prior to such dates were made when due), minus 

  

	 	(C)	the outstanding principal balance of this Note as of the Prepayment Date. 

 The “Present Values” described in (A) and (B) shall be computed on a monthly basis as of the Prepayment Date discounted at a rate equal to the yield-to-maturity of the U.S. Treasury
Note or Bond closest in maturity to the earlier of the next Rate Adjustment Date or the Maturity Date as reported in The Wall Street Journal (or, if The Wall Street Journal is no longer published, as reported in such other daily financial
publication of national circulation which shall be designated by Lender) on the fifth business day preceding the Prepayment Date. Borrower shall be obligated to prepay this Note on the Prepayment Date set forth in the written notice to Lender
required hereinabove, after such notice has been delivered to Lender. 
  

	 	(b)	Notwithstanding the foregoing or any other provision herein to the contrary, if Lender elects to apply insurance proceeds, condemnation awards, or any escrowed amounts,
if applicable, to the reduction of the outstanding principal balance of this Note in the manner provided in the Deed of Trust, no Prepayment Fee shall be due or payable as a result of such application and the monthly installments due and payable
hereunder shall be reduced accordingly. 

  
 Page 3

	 	(c)	In the event the Maturity Date is accelerated by Lender at any time due to a default by Borrower in the payment of principal and/or interest due under this Note or in
the performance of the terms, covenants or conditions contained in this Note, the Deed of Trust or any of the other Loan Documents (as hereinafter defined), then a tender of payment in an amount necessary to satisfy the entire outstanding principal
balance of this Note together with all accrued unpaid interest hereon made by Borrower, or by anyone on behalf of Borrower, at any time prior to, at, or as a result of, a foreclosure sale or sale pursuant to power of sale, shall constitute a
voluntary prepayment hereunder prior to the contracted Maturity Date of this Note thus requiring the payment to Lender of a Prepayment Fee equal to the applicable Prepayment Fee as set forth in paragraph (a) above; provided, however, that in
the event such Prepayment Fee is construed to be interest under the laws of the State of Oregon in any circumstance, such payment shall not be required to the extent that the amount thereof, together with other interest payable hereunder, exceeds
the maximum rate of interest that may be lawfully charged under applicable law. 

  

	 	(d)	Notwithstanding anything contained herein to the contrary, during the ninety (90) day period immediately preceding the Maturity Date of this Note, the entire
outstanding principal balance and all accrued unpaid interest on this Note may be prepaid in whole, but not in part, at par, without incurring a Prepayment Fee. 

 

	 	(e)	Notwithstanding anything contained herein to the contrary, if Borrower accepts the Adjusted Interest Rate as provided in paragraph 2 above, Borrower shall have the
right to prepay a portion of the unpaid principal balance of this Note prior to the Rate Adjustment Date, without a Prepayment Fee, provided the remaining principal balance of this Note after the prepayment may not be less than $150,000.00. Any
partial prepayment must be received by Lender no less than thirty (30) days prior to the Rate Adjustment Date. Any partial prepayment will be applied to pay down the principal balance of this Note upon Lender’s receipt of such prepayment.
The then remaining principal balance of this Note will then be used to calculate the new monthly payment amount as described in paragraph 2(d) above. 

 4. Waiver. To the extent permitted by law, each and every Borrower, surety, guarantor, endorser or signator to this Note and any other party now or hereafter liable for the payment of this Note, in
whatever capacity, whether in whole or in part hereby (a) waives notice of intent to demand, presentment for payment, notice of demand, demand, notice of nonpayment, protest, notice of protest, notice of dishonor, notice of intent to
accelerate, notice of acceleration, and all other notices, filing of suit, and diligence in collecting this Note and/or enforcing any of the security herefor; (b) agrees that Lender shall not be required first to institute suit or exhaust its
remedies against Borrower or others liable or to become liable hereon or against the Property (as hereinafter defined), it being understood that Lender may exercise its rights hereunder and pursue its remedies in any order and at any time it
desires, and may do so, without notice to or consent of any such person, and without in any way diminishing the obligations of any such 

  
 Page 4

 
person; (c) consents to Lender dealing with any such person with reference to this Note by way of forbearance, extension, modification, compromise or otherwise; (d) consents and agrees
to any and all extensions, releases, renewals, partial payments, surrenders, exchanges, substitutions of security herefor, compromises, discharges or modifications and any other indulgence with respect to any right or obligation secured by or
provided by the Deed of Trust, Mortgage, or Deed to Secure Debt, as the case may be, securing this Note (“Deed of Trust”) or any other instrument securing this Note, before or after the maturity of this Note, without notice thereof to any
of them; or (e) consents and agrees that Lender may take any other action which Lender may deem reasonably appropriate to protect its security interest in the property securing this Note (“Property”). Any such action(s) taken under
the preceding sentence may be taken against one, all, or some of such persons, and Lender may take any such action against one differently than another of such persons, in Lender’s sole discretion. 

5. Default; Default Rate. Time is material and of the essence hereof with respect to the payment of any sums of any nature by and
the performance of all duties or obligations of the Borrower. Each of the following shall be an Event of Default under this Note: (a) failure to make any payment of principal and/or interest or any other payment required by the provisions of
this Note or of any instrument securing this Note on the date such payment or payments are due; (b) failure to perform any other provision of this Note or of any instrument securing this Note; (c) falsity in any material respect of the
warranties in the Deed of Trust or of any representation, warranty or information furnished by Borrower or its agents to Lender in connection with the loan evidenced by this Note (“Loan”); or (d) failure to pay or perform under any
Other Loan Documents (as described and defined in the Deed of Trust). Upon the occurrence of any Event of Default, any sum not paid as provided in this Note or in any instrument securing this Note, shall, at the option of Lender, without notice,
bear interest from such due date at a rate of interest (“Default Rate”) equal to four (4) percentage points per annum greater than the Note Rate, or the maximum rate of interest permitted by law, whichever is the lesser, and, at the
option of Lender, the unpaid balance of principal, accrued interest, plus any other sums due under this Note, or under any instrument securing this Note shall at once become due and payable, without notice except as described in paragraph 12, and
shall bear interest at the Default Rate. If an Event of Default occurs during a period of time in which prepayment is permitted only on payment of a prepayment fee, such fee shall be computed as if the sum declared due on default were a prepayment
and shall be added to the sums due and payable hereunder. 
 6. Late Charges. If any payment is not received by Lender
(or by the correspondent if a correspondent has been designated by Lender to receive payments) within five (5) calendar days after its due date, Lender, at its option, may assess a late charge equal to five cents for each $1.00 of each overdue
payment or the maximum late charge permitted by the laws of the state in which the Property is located, whichever is less. Such late charge shall be due and payable on demand, and Lender, at its option, may (a) refuse to accept any late payment
or any subsequent payment unless accompanied by such late charge, (b) add such late charge to the principal balance of this Note or (c) treat the failure to pay such late charge as demanded as an Event of Default hereunder. If such late
charge is added to the principal balance of this Note, it 

  
 Page 5

 
shall bear interest at the Default Rate. The late charge is compensation for damages suffered by Lender and does not constitute interest. 

7. Acknowledgments Regarding Default Rate, Late Charges and Prepayment Charges. 

 

	 	(a)	Borrower acknowledges and agrees that (i) a default in making the payments herein agreed to be paid when due will result in the Lender incurring additional expense
in servicing the Loan, loss to Lender of the use of the money due, and frustration to Lender in meeting its other commitments, (ii) if for any reason it fails to pay any amounts due hereunder, Lender shall be entitled to damages for the
detriment caused thereby, but that it is extremely difficult and impractical to ascertain the extent of such damages, and (iii) the Default Rate and the late charge described in this Note are a reasonable estimate of such damages.

  

	 	(b)	Borrower acknowledges and agrees that (i) prepayment prior to the maturity date may result in loss to Lender, (ii) the amount of the loss will depend on the
interest rates at the time of prepayment, the amount of principal prepaid and the length of time remaining between the prepayment date and the scheduled maturity date, (iii) prepayment is most likely to occur when interest rates have dropped
below the Note Rate, and (iv) because it is extremely difficult and impractical to ascertain now the amount of loss Lender may suffer in the event of prepayment, (A) Lender shall be entitled to damages for the loss caused by prepayment and
(B) the prepayment fee described in this Note is a reasonable measure of such damages. Borrower agrees that the prepayment fee described in this Note shall be imposed, to the extent permitted by law, whether the prepayment is voluntary,
involuntary or by operation of law, in connection with an Event of Default, or required by Lender in connection with a transfer or contract to transfer the Property, provided that no prepayment fee shall be added to sums prepaid with casualty
insurance proceeds or condemnation awards. 

  

	 	(c)	Borrower expressly (i) waives any right to prepay the Loan without payment of the prepayment fee described above in connection with a transfer or contract to
transfer the Property by Borrower, or a successor in interest of the undersigned, and (ii) agrees to pay such prepayment fee as provided above in connection with such a transfer or contract to transfer. 

 

	 	(d)	Borrower represents that it is a knowledgeable real estate investor and fully understands the effect of the fees, charges, waivers and agreements contained above.
Borrower acknowledges and agrees that the making of the Loan by Lender at the interest rate and with the other terms described herein is sufficient consideration for such fees, charges, waiver and agreement, and that Lender would not make this Loan
on these terms without such fees, charges, waiver and agreement. 

  
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 8. Expenses and Attorney Fees. If Lender refers this Note to an attorney for
collection or seeks legal advice following a default alleged in good faith under this Note; if Lender is the prevailing party in any litigation instituted in connection with this Note; or if Lender or any other person initiates any judicial or
nonjudicial action, suit or proceeding, including but not limited to a foreclosure sale, in connection with this Note or the security therefor, and an attorney is employed by Lender to (a) appear in any such action, suit or proceeding,
(b) reclaim, seek relief from a judicial or statutory stay, sequester, protect, preserve or enforce Lender’s interest in this Note, the Deed of Trust, or any other security for this Note (including but not limited to proceedings at
appellate levels, under federal bankruptcy law, in eminent domain, under probate proceedings, or in connection with any state or federal tax lien), or (c) assist Lender in any foreclosure sale, then, in any such event, Borrower shall pay
attorney’s fees and costs and expenses incurred by Lender and/or its attorney in connection with the above-mentioned events and any appeals or discretionary reviews related to such events, including but not limited to costs incurred in
searching records, the cost of title reports, the cost of appraisals, and the cost of surveyors’ reports. If not paid within ten days after such fees, costs and expenses become due and written demand for payment is made upon Borrower, such
amount may, at Lender’s option, be added to the principal of this Note and shall bear interest at the Default Rate. 
 9.
No Usury. In no event shall any payment of interest or any other sum payable hereunder both (a) violate the usury laws of the state in which the Property is located and (b) allow Borrower to bring a claim for usury or raise usury as
a defense in any action on this Note. If it is established that both (a) and (b) have occurred, and any payment exceeding lawful limits has been received, Lender shall refund such excess or, at its option, credit the excess amount to
principal, but such payments shall not affect the obligation to make periodic payments required herein. 
 10. Security.
The indebtedness evidenced by this Note is secured by the Deed of Trust, Mortgage, or Deed to Secure Debt, as applicable (“Deed of Trust”), of even date and may be secured by other security instruments. 

11. Due on Sale or Encumbrance. As provided in the Deed of Trust securing this Note, and subject to any exceptions provided
therein, transfers or encumbrances of the Property, or of ownership interests in Borrower, cause all sums evidenced by this Note and/or secured by the Deed of Trust or by any other Loan Document to become immediately due and payable. By signing this
Note, Borrower acknowledges that Borrower has received and reviewed a copy of the Deed of Trust and is familiar with the provisions restricting the transfer of the Property and the ownership interests therein and assumptions of the Loan. 

12. Notice and Opportunity to Cure. Notwithstanding any other provision of this Note, Lender shall not accelerate the sums
evidenced hereby because of a nonmonetary default (defined below) by Borrower unless Borrower fails to cure the default within fifteen (15) days of the earlier of the date on which Lender mails or delivers written notice of the default to
Borrower. For purposes of this Note, the term “nonmonetary default” means a failure by Borrower or any other person or entity to perform any obligation contained in this Note or any other document or instrument evidencing or securing the
Loan (collectively, “Loan 

  
 Page 7

 
Documents”), other than the obligation to make payments provided for in this Note or any other Loan Document. If a nonmonetary default is capable of being cured and the cure cannot
reasonably be completed within the fifteen (15) day cure period, the cure period shall be extended up to sixty (60) days so long as Borrower has commenced action to cure within the fifteen (15) day cure period, and in Lender’s
opinion, Borrower is proceeding to cure the default with due diligence. No notice of default and no opportunity to cure shall be required if during any 12-month period Lender has already sent a notice to Borrower concerning default in the
performance of the same obligation. None of the foregoing shall be construed to obligate Lender to forebear in any other manner from exercising its remedies and Lender may pursue any other rights or remedies which Lender may have because of a
default. 
 13. Commercial Purpose. The obligation evidenced by this Note is exclusively for commercial or business
purposes. 
 14. Notices. All notices required or permitted under this Note shall be in writing and may be
telecopies, cabled, delivered by hand, or mailed by first class registered or certified mail, return receipt requested, postage prepaid, and addressed as follows: 
 If to Lender: 
 STANDARD INSURANCE COMPANY

 c/o StanCorp Mortgage Investors, LLC 
 Attn: Mortgage Loan Servicing T3A 
 19225 NW Tanasbourne Drive

 Hillsboro, OR 97124 
 If to Borrower: 
 VITRAN
ILLINOIS, LLC 
 Attn: Chris Keylon 
 P.O. Box 1290 (for U.S.P.S. mail delivery) 
 2850 Kramer Road (for
courier or other delivery) 
 Gibsonia, PA 15044 

Changes in the respective addresses to which such notices shall be directed may be from time to time by either party by notice to the
other party given at least ten (10) days before such change of address is to become effective. Notices given by mail in accordance with this provision shall be deemed to have been given three (3) days after the date of dispatch; notices
given by any other means shall be deemed to have been given when received. 
 15. Choice of Law, Jurisdiction and Venue;
Enforceability; Severability. Except for matters relating to the validity and/or enforcement of the security interest of Lender in the Property, which shall be determined in accordance with the applicable laws of the state in which the affected
Property is situated, the law of the state of Oregon shall govern the validity, interpretation, construction, performance and enforcement of this Note and any and all other 

  
 Page 8

 
Loan Documents. If, for any reason or to any extent any word, term, provision, or clause of this Note or any of the other Loan Documents, or its application to any person or situation, shall be
found by a court or other adjudicating authority to be invalid or unenforceable, the remaining words, terms, provisions, or clauses shall be enforced, and the affected work, term, clause, or provision shall be applied, to the fullest extent
permitted by law. Borrower irrevocably submits to the jurisdiction of Multnomah County state or Portland, Oregon federal court in any action or proceeding brought to enforce or otherwise arising out of or relating to this Note or any of the
other Loan Documents, and waives any claim that such forum is inappropriate and/or an inconvenient forum. 
 16. Successors
and Assigns. Whenever used herein, the words “undersigned”, “Borrower” and “Lender” shall be deemed to include their respective heirs, devisees, executors, administrators, personal representatives, successors and
assigns. 
 NOTICES TO BORROWER 
 DO NOT SIGN THIS NOTE BEFORE YOU READ IT. THIS NOTE PROVIDES FOR THE PAYMENT OF A FEE IF THIS NOTE IS PREPAID PRIOR TO THE DATE PROVIDED FOR REPAYMENT IN THIS NOTE AND OTHER CHARGES IF PAYMENTS ARE
LATE. IF YOU HAVE ANY QUESTIONS ABOUT THIS NOTE, YOU SHOULD CONSULT YOUR ATTORNEY. 
 ORS 41.580 Disclosure. UNDER OREGON
LAW, MOST AGREEMENTS, PROMISES AND COMMITMENTS BY LENDER, CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES, OR SECURED SOLELY BY THE BORROWER’S RESIDENCE MUST BE IN WRITING, EXPRESS
CONSIDERATION AND BE SIGNED BY AN AUTHORIZED REPRESENTATIVE OF LENDER TO BE ENFORCEABLE. 
  

			
	 BORROWER:

	
	 VITRAN ILLINOIS, LLC,
 a Delaware limited liability company

		
	 By:
	 	 /s/ CHRIS KEYLON

		 	CHRIS KEYLON
		 	Its: Authorized Manager

  
 Page 9

 SIC Loan No. B2110705 

NOTE 
  

			
	$2,425,000.00	  	December 19, 2012

 FOR VALUE
RECEIVED, the undersigned, VITRAN INDIANAPOLIS, LLC, a Delaware limited liability company (“Borrower”), promises to pay in lawful money of the United States, to the order of STANDARD INSURANCE COMPANY, an Oregon corporation
(together with any assigns, collectively, “Lender”), at its office in Hillsboro, Oregon, or such other place as Lender may designate, the principal amount of a loan (“Loan”) of Two Million Four Hundred Twenty-Five Thousand and
No/100ths Dollars ($2,425,000.00), together with interest thereon, on the following agreements, terms and conditions. 
 1. Payments. Borrower shall make monthly payments of principal and interest to Lender, in amounts sufficient to fully amortize the principal balance of this Note over a fifteen
(15) year amortization period in substantially equal monthly payments. Such monthly payments of principal and interest shall be in the initial amount of Nineteen Thousand Twenty and No/100ths Dollars ($19,020.00) payable on the
first day of each month, commencing with the first day of February, 2013, together with such other sums as may become due hereunder or under any instrument securing this Note, until the entire indebtedness is fully paid, except that
any remaining indebtedness if not sooner paid shall be finally due and payable on the first day of January, 2028, which is the maturity date of this Note (“Maturity Date”). The monthly payment amount will change after each
Rate Adjustment Date (as defined in Paragraph 2) to an amount sufficient to repay the then unpaid principal balance of this Note in full at the then current interest rate, in substantially equal monthly payments over the balance of the amortization
period specified above. If applicable, until the payment is again changed, Borrower shall pay the new monthly payment each month beginning on the first day of the first calendar month after the applicable Rate Adjustment Date. Lender will mail or
deliver to Borrower a notice of any changes in the interest rate applicable to this Note, and any resulting changes in the monthly payments required under this Note, prior to the date the first payment is due after the applicable Rate Adjustment
Date. Every payment received with respect hereto shall be applied, in any order that may be determined by Lender in its sole discretion, to sums under this Note, including, without limitation: (a) late charges; (b) expenses paid or funds
advanced by Lender with interest thereon at the Default Rate when applicable (as hereinafter defined); (c) any prepayment fees due with respect to any payment and any other fees which may remain unpaid; (d) accrued interest on the
principal balance from time to time remaining unpaid; and (e) subject to the prepayment provisions herein, the principal balance hereunder. 
 2. Interest. The interest rate applicable to this Note will change on the applicable Rate Adjustment Dates. Interest shall be calculated on the basis of a 360-day year consisting of twelve 30-day
months, except that interest due and payable for a period of less than a full month and/or any prepayment shall be calculated on an actual accrual method. The initial interest rate included in the aforesaid payments, unless adjusted as otherwise
provided in this Note, shall be calculated at the rate of Four and Seven-Eighths percent (4.875%) per annum (“Note Rate”) upon the unpaid balance of principal of this Note. Borrower, jointly and severally, also promises

  
 Page 1

 
to pay interest at the Note Rate from the date of disbursement of the Loan proceeds evidenced by this Note (“Disbursement Date”) to the date from which interest is included in the first
payment previously described. As used herein, “Rate Adjustment Date(s)” shall be as follows: 
  

	 	•	 	 59 months from the First Payment Date; 

  

	 	•	 	 119 months from the First Payment Date; 

  

	 	(a)	One hundred and twenty (120) days prior to each Rate Adjustment Date, Lender will notify Borrower in writing of the Adjusted Interest Rate that will become
effective in accordance with this Note. The “Adjusted Interest Rate” will be Lender’s then prevailing annual interest rate for similar loans then being originated by Lender with a similar term (equal to the period between the Rate
Adjustment Date and the earlier of the next Rate Adjustment Date or the Maturity Date) then being originated by Lender on properties comparable to the Property (as herein defined) as determined solely by Lender. 

 

	 	(a)	Borrower shall have thirty (30) days from the date of receipt of such notification from Lender to accept or reject the Adjusted Interest Rate. Failure by Borrower
to notify Lender of the acceptance or rejection of the Adjusted Interest Rate within such thirty (30) day period shall be deemed to be a rejection of the Adjusted Interest Rate. If the Adjusted Interest Rate is rejected by Borrower (or deemed
rejected), the entire unpaid principal balance of this Note, all accrued unpaid interest hereon, and any other amounts payable hereunder or under the other Loan Documents (as hereinafter defined) shall be due and payable in full, without a
Prepayment Fee, no later than the Rate Adjustment Date. 

  

	 	(b)	If Borrower accepts the Adjusted Interest Rate for the offered period, the Adjusted Interest Rate shall become effective on the Rate Adjustment Date and monthly
installments of principal and interest shall then be due and payable in an amount to be determined that will amortize the remaining unpaid principal balance of this Note at the Adjusted Interest Rate over the remaining amortization period. In such
case, Borrower shall also have the option to prepay a portion of the remaining unpaid principal balance of this Note as described in paragraph 3(e) below. 

  

	 	(c)	Thereafter, monthly installments of principal and interest on the unpaid principal balance of this Note, at the Adjusted Interest Rate, in the amount thus calculated,
shall be due and payable in consecutive monthly installments commencing on the first day of the calendar month after the Rate Adjustment Date and continuing on the first day of each calendar month thereafter, to and including the monthly installment
of principal and interest due and payable on the earlier of the next Rate Adjustment Date or the Maturity Date. 

3. Prepayment Restrictions; Fees. Borrower shall have the right to prepay, in full but not in part, the obligation
evidenced by this Note upon giving Lender (i) not less than thirty 

  
 Page 2

 
(30) days’ prior written notice of (a) Borrower’s intention to so prepay this Note, and (b) the date upon which such prepayment will be received by Lender (“Prepayment
Date”), and (ii) payment to Lender of the Prepayment Fee (as hereinafter defined), if any, then due to Lender as hereinafter provided. 
  

	 	(a)	As used herein, the term “Prepayment Fee” shall mean an amount which is the greater of 

 

	 	(i)	one percent (1%) of the outstanding principal balance of this Note at the time of prepayment, or 

 

	 	(ii)	the sum of 

  

	 	(A)	the Present Value (as hereinafter defined) of the scheduled monthly payments due under this Note from the Prepayment Date to the earlier of the next Rate Adjustment
Date or the Maturity Date. 

  

	 	(B)	the Present Value of the amount of principal and interest due under this Note on the earlier of the next Rate Adjustment Date or the Maturity Date (assuming all
scheduled monthly payments due prior to such dates were made when due), minus 

  

	 	(C)	the outstanding principal balance of this Note as of the Prepayment Date. 

 The “Present Values” described in (A) and (B) shall be computed on a monthly basis as of the Prepayment Date discounted at a rate equal to the yield-to-maturity of the U.S. Treasury
Note or Bond closest in maturity to the earlier of the next Rate Adjustment Date or the Maturity Date as reported in The Wall Street Journal (or, if The Wall Street Journal is no longer published, as reported in such other daily financial
publication of national circulation which shall be designated by Lender) on the fifth business day preceding the Prepayment Date. Borrower shall be obligated to prepay this Note on the Prepayment Date set forth in the written notice to Lender
required hereinabove, after such notice has been delivered to Lender. 
  

	 	(b)	Notwithstanding the foregoing or any other provision herein to the contrary, if Lender elects to apply insurance proceeds, condemnation awards, or any escrowed amounts,
if applicable, to the reduction of the outstanding principal balance of this Note in the manner provided in the Deed of Trust, no Prepayment Fee shall be due or payable as a result of such application and the monthly installments due and payable
hereunder shall be reduced accordingly. 

  
 Page 3

	 	(c)	In the event the Maturity Date is accelerated by Lender at any time due to a default by Borrower in the payment of principal and/or interest due under this Note or in
the performance of the terms, covenants or conditions contained in this Note, the Deed of Trust or any of the other Loan Documents (as hereinafter defined), then a tender of payment in an amount necessary to satisfy the entire outstanding principal
balance of this Note together with all accrued unpaid interest hereon made by Borrower, or by anyone on behalf of Borrower, at any time prior to, at, or as a result of, a foreclosure sale or sale pursuant to power of sale, shall constitute a
voluntary prepayment hereunder prior to the contracted Maturity Date of this Note thus requiring the payment to Lender of a Prepayment Fee equal to the applicable Prepayment Fee as set forth in paragraph (a) above; provided, however, that in
the event such Prepayment Fee is construed to be interest under the laws of the State of Oregon in any circumstance, such payment shall not be required to the extent that the amount thereof, together with other interest payable hereunder, exceeds
the maximum rate of interest that may be lawfully charged under applicable law. 

  

	 	(d)	Notwithstanding anything contained herein to the contrary, during the ninety (90) day period immediately preceding the Maturity Date of this Note, the entire
outstanding principal balance and all accrued unpaid interest on this Note may be prepaid in whole, but not in part, at par, without incurring a Prepayment Fee. 

 

	 	(e)	Notwithstanding anything contained herein to the contrary, if Borrower accepts the Adjusted Interest Rate as provided in paragraph 2 above, Borrower shall have the
right to prepay a portion of the unpaid principal balance of this Note prior to the Rate Adjustment Date, without a Prepayment Fee, provided the remaining principal balance of this Note after the prepayment may not be less than $150,000.00. Any
partial prepayment must be received by Lender no less than thirty (30) days prior to the Rate Adjustment Date. Any partial prepayment will be applied to pay down the principal balance of this Note upon Lender’s receipt of such prepayment.
The then remaining principal balance of this Note will then be used to calculate the new monthly payment amount as described in paragraph 2(d) above. 

 4. Waiver. To the extent permitted by law, each and every Borrower, surety, guarantor, endorser or signator to this Note and any other party now or hereafter liable for the payment of this Note, in
whatever capacity, whether in whole or in part hereby (a) waives notice of intent to demand, presentment for payment, notice of demand, demand, notice of nonpayment, protest, notice of protest, notice of dishonor, notice of intent to
accelerate, notice of acceleration, and all other notices, filing of suit, and diligence in collecting this Note and/or enforcing any of the security herefor; (b) agrees that Lender shall not be required first to institute suit or exhaust its
remedies against Borrower or others liable or to become liable hereon or against the Property (as hereinafter defined), it being understood that Lender may exercise its rights hereunder and pursue its remedies in any order and at any time it
desires, and may do so, without notice to or consent of any such person, and without in any way diminishing the obligations of any such 

  
 Page 4

 
person; (c) consents to Lender dealing with any such person with reference to this Note by way of forbearance, extension, modification, compromise or otherwise; (d) consents and agrees
to any and all extensions, releases, renewals, partial payments, surrenders, exchanges, substitutions of security herefor, compromises, discharges or modifications and any other indulgence with respect to any right or obligation secured by or
provided by the Deed of Trust, Mortgage, or Deed to Secure Debt, as the case may be, securing this Note (“Deed of Trust”) or any other instrument securing this Note, before or after the maturity of this Note, without notice thereof to any
of them; or (e) consents and agrees that Lender may take any other action which Lender may deem reasonably appropriate to protect its security interest in the property securing this Note (“Property”). Any such action(s) taken under
the preceding sentence may be taken against one, all, or some of such persons, and Lender may take any such action against one differently than another of such persons, in Lender’s sole discretion. 

5. Default; Default Rate. Time is material and of the essence hereof with respect to the payment of any sums of any nature by and
the performance of all duties or obligations of the Borrower. Each of the following shall be an Event of Default under this Note: (a) failure to make any payment of principal and/or interest or any other payment required by the provisions of
this Note or of any instrument securing this Note on the date such payment or payments are due; (b) failure to perform any other provision of this Note or of any instrument securing this Note; (c) falsity in any material respect of the
warranties in the Deed of Trust or of any representation, warranty or information furnished by Borrower or its agents to Lender in connection with the loan evidenced by this Note (“Loan”); or (d) failure to pay or perform under any
Other Loan Documents (as described and defined in the Deed of Trust). Upon the occurrence of any Event of Default, any sum not paid as provided in this Note or in any instrument securing this Note, shall, at the option of Lender, without notice,
bear interest from such due date at a rate of interest (“Default Rate”) equal to four (4) percentage points per annum greater than the Note Rate, or the maximum rate of interest permitted by law, whichever is the lesser, and, at the
option of Lender, the unpaid balance of principal, accrued interest, plus any other sums due under this Note, or under any instrument securing this Note shall at once become due and payable, without notice except as described in paragraph 12, and
shall bear interest at the Default Rate. If an Event of Default occurs during a period of time in which prepayment is permitted only on payment of a prepayment fee, such fee shall be computed as if the sum declared due on default were a prepayment
and shall be added to the sums due and payable hereunder. 
 6. Late Charges. If any payment is not received by Lender
(or by the correspondent if a correspondent has been designated by Lender to receive payments) within five (5) calendar days after its due date, Lender, at its option, may assess a late charge equal to five cents for each $1.00 of each overdue
payment or the maximum late charge permitted by the laws of the state in which the Property is located, whichever is less. Such late charge shall be due and payable on demand, and Lender, at its option, may (a) refuse to accept any late payment
or any subsequent payment unless accompanied by such late charge, (b) add such late charge to the principal balance of this Note or (c) treat the failure to pay such late charge as demanded as an Event of Default hereunder. If such late
charge is added to the principal balance of this Note, it 

  
 Page 5

 
shall bear interest at the Default Rate. The late charge is compensation for damages suffered by Lender and does not constitute interest. 

7. Acknowledgments Regarding Default Rate, Late Charges and Prepayment Charges. 

 

	 	(a)	Borrower acknowledges and agrees that (i) a default in making the payments herein agreed to be paid when due will result in the Lender incurring additional expense
in servicing the Loan, loss to Lender of the use of the money due, and frustration to Lender in meeting its other commitments, (ii) if for any reason it fails to pay any amounts due hereunder, Lender shall be entitled to damages for the
detriment caused thereby, but that it is extremely difficult and impractical to ascertain the extent of such damages, and (iii) the Default Rate and the late charge described in this Note are a reasonable estimate of such damages.

  

	 	(b)	Borrower acknowledges and agrees that (i) prepayment prior to the maturity date may result in loss to Lender, (ii) the amount of the loss will depend on the
interest rates at the time of prepayment, the amount of principal prepaid and the length of time remaining between the prepayment date and the scheduled maturity date, (iii) prepayment is most likely to occur when interest rates have dropped
below the Note Rate, and (iv) because it is extremely difficult and impractical to ascertain now the amount of loss Lender may suffer in the event of prepayment, (A) Lender shall be entitled to damages for the loss caused by prepayment and
(B) the prepayment fee described in this Note is a reasonable measure of such damages. Borrower agrees that the prepayment fee described in this Note shall be imposed, to the extent permitted by law, whether the prepayment is voluntary,
involuntary or by operation of law, in connection with an Event of Default, or required by Lender in connection with a transfer or contract to transfer the Property, provided that no prepayment fee shall be added to sums prepaid with casualty
insurance proceeds or condemnation awards. 

  

	 	(c)	Borrower expressly (i) waives any right to prepay the Loan without payment of the prepayment fee described above in connection with a transfer or contract to
transfer the Property by Borrower, or a successor in interest of the undersigned, and (ii) agrees to pay such prepayment fee as provided above in connection with such a transfer or contract to transfer. 

 

	 	(d)	Borrower represents that it is a knowledgeable real estate investor and fully understands the effect of the fees, charges, waivers and agreements contained above.
Borrower acknowledges and agrees that the making of the Loan by Lender at the interest rate and with the other terms described herein is sufficient consideration for such fees, charges, waiver and agreement, and that Lender would not make this Loan
on these terms without such fees, charges, waiver and agreement. 

  
 Page 6

 8. Expenses and Attorney Fees. If Lender refers this Note to an attorney for
collection or seeks legal advice following a default alleged in good faith under this Note; if Lender is the prevailing party in any litigation instituted in connection with this Note; or if Lender or any other person initiates any judicial or
nonjudicial action, suit or proceeding, including but not limited to a foreclosure sale, in connection with this Note or the security therefor, and an attorney is employed by Lender to (a) appear in any such action, suit or proceeding,
(b) reclaim, seek relief from a judicial or statutory stay, sequester, protect, preserve or enforce Lender’s interest in this Note, the Deed of Trust, or any other security for this Note (including but not limited to proceedings at
appellate levels, under federal bankruptcy law, in eminent domain, under probate proceedings, or in connection with any state or federal tax lien), or (c) assist Lender in any foreclosure sale, then, in any such event, Borrower shall pay
attorney’s fees and costs and expenses incurred by Lender and/or its attorney in connection with the above-mentioned events and any appeals or discretionary reviews related to such events, including but not limited to costs incurred in
searching records, the cost of title reports, the cost of appraisals, and the cost of surveyors’ reports. If not paid within ten days after such fees, costs and expenses become due and written demand for payment is made upon Borrower, such
amount may, at Lender’s option, be added to the principal of this Note and shall bear interest at the Default Rate. 
 9.
No Usury. In no event shall any payment of interest or any other sum payable hereunder both (a) violate the usury laws of the state in which the Property is located and (b) allow Borrower to bring a claim for usury or raise usury as
a defense in any action on this Note. If it is established that both (a) and (b) have occurred, and any payment exceeding lawful limits has been received, Lender shall refund such excess or, at its option, credit the excess amount to
principal, but such payments shall not affect the obligation to make periodic payments required herein. 
 10. Security.
The indebtedness evidenced by this Note is secured by the Deed of Trust, Mortgage, or Deed to Secure Debt, as applicable (“Deed of Trust”), of even date and may be secured by other security instruments. 

11. Due on Sale or Encumbrance. As provided in the Deed of Trust securing this Note, and subject to any exceptions provided
therein, transfers or encumbrances of the Property, or of ownership interests in Borrower, cause all sums evidenced by this Note and/or secured by the Deed of Trust or by any other Loan Document to become immediately due and payable. By signing this
Note, Borrower acknowledges that Borrower has received and reviewed a copy of the Deed of Trust and is familiar with the provisions restricting the transfer of the Property and the ownership interests therein and assumptions of the Loan. 

12. Notice and Opportunity to Cure. Notwithstanding any other provision of this Note, Lender shall not accelerate the sums
evidenced hereby because of a nonmonetary default (defined below) by Borrower unless Borrower fails to cure the default within fifteen (15) days of the earlier of the date on which Lender mails or delivers written notice of the default to
Borrower. For purposes of this Note, the term “nonmonetary default” means a failure by Borrower or any other person or entity to perform any obligation contained in this Note or any other document or instrument evidencing or securing the
Loan (collectively, “Loan 

  
 Page 7

 
Documents”), other than the obligation to make payments provided for in this Note or any other Loan Document. If a nonmonetary default is capable of being cured and the cure cannot
reasonably be completed within the fifteen (15) day cure period, the cure period shall be extended up to sixty (60) days so long as Borrower has commenced action to cure within the fifteen (15) day cure period, and in Lender’s
opinion, Borrower is proceeding to cure the default with due diligence. No notice of default and no opportunity to cure shall be required if during any 12-month period Lender has already sent a notice to Borrower concerning default in the
performance of the same obligation. None of the foregoing shall be construed to obligate Lender to forebear in any other manner from exercising its remedies and Lender may pursue any other rights or remedies which Lender may have because of a
default. 
 13. Commercial Purpose. The obligation evidenced by this Note is exclusively for commercial or business
purposes. 
 14. Notices. All notices required or permitted under this Note shall be in writing and may be
telecopies, cabled, delivered by hand, or mailed by first class registered or certified mail, return receipt requested, postage prepaid, and addressed as follows: 
 If to Lender: 
 STANDARD INSURANCE COMPANY

 c/o StanCorp Mortgage Investors, LLC 
 Attn: Mortgage Loan Servicing T3A 
 19225 NW Tanasbourne Drive

 Hillsboro, OR 97124 
 If to Borrower: 
 VITRAN
INDIANAPOLIS, LLC 
 Attn: Chris Keylon 
 P.O. Box 1290 (for U.S.P.S. mail delivery) 
 2850 Kramer Road (for
courier or other delivery) 
 Gibsonia, PA 15044 

Changes in the respective addresses to which such notices shall be directed may be from time to time by either party by notice to the
other party given at least ten (10) days before such change of address is to become effective. Notices given by mail in accordance with this provision shall be deemed to have been given three (3) days after the date of dispatch; notices
given by any other means shall be deemed to have been given when received. 
 15. Choice of Law, Jurisdiction and Venue;
Enforceability; Severability. Except for matters relating to the validity and/or enforcement of the security interest of Lender in the Property, which shall be determined in accordance with the applicable laws of the state in which the affected
Property is situated, the law of the state of Oregon shall govern the validity, interpretation, construction, performance and enforcement of this Note and any and all other 

  
 Page 8

 
Loan Documents. If, for any reason or to any extent any word, term, provision, or clause of this Note or any of the other Loan Documents, or its application to any person or situation, shall be
found by a court or other adjudicating authority to be invalid or unenforceable, the remaining words, terms, provisions, or clauses shall be enforced, and the affected work, term, clause, or provision shall be applied, to the fullest extent
permitted by law. Borrower irrevocably submits to the jurisdiction of Multnomah County state or Portland, Oregon federal court in any action or proceeding brought to enforce or otherwise arising out of or relating to this Note or any of the
other Loan Documents, and waives any claim that such forum is inappropriate and/or an inconvenient forum. 
 16. Successors
and Assigns. Whenever used herein, the words “undersigned”, “Borrower” and “Lender” shall be deemed to include their respective heirs, devisees, executors, administrators, personal representatives, successors and
assigns. 
 NOTICES TO BORROWER 
 DO NOT SIGN THIS NOTE BEFORE YOU READ IT. THIS NOTE PROVIDES FOR THE PAYMENT OF A FEE IF THIS NOTE IS PREPAID PRIOR TO THE DATE PROVIDED FOR REPAYMENT IN THIS NOTE AND OTHER CHARGES IF PAYMENTS ARE
LATE. IF YOU HAVE ANY QUESTIONS ABOUT THIS NOTE, YOU SHOULD CONSULT YOUR ATTORNEY. 
 ORS 41.580 Disclosure. UNDER OREGON
LAW, MOST AGREEMENTS, PROMISES AND COMMITMENTS BY LENDER, CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES, OR SECURED SOLELY BY THE BORROWER’S RESIDENCE MUST BE IN WRITING, EXPRESS
CONSIDERATION AND BE SIGNED BY AN AUTHORIZED REPRESENTATIVE OF LENDER TO BE ENFORCEABLE. 
 BORROWER: 

VITRAN INDIANAPOLIS, LLC, 
 a
Delaware limited liability company 
  

			
	By:	 	 /s/ CHRIS KEYLON

		 	CHRIS KEYLON
		 	Its: Authorized Manager

  
 Page 9

 SIC Loan No. B2110717 

NOTE 
  

			
	$1,815,000.00	  	December 19, 2012

 FOR VALUE
RECEIVED, the undersigned, VITRAN INDIANA, LLC, a Delaware limited liability company (“Borrower”), promises to pay in lawful money of the United States, to the order of STANDARD INSURANCE COMPANY, an Oregon corporation
(together with any assigns, collectively, “Lender”), at its office in Hillsboro, Oregon, or such other place as Lender may designate, the principal amount of a loan (“Loan”) of One Million Eight Hundred Fifteen Thousand and
No/100ths Dollars ($1,815,000.00), together with interest thereon, on the following agreements, terms and conditions. 
 1. Payments. Borrower shall make monthly payments of principal and interest to Lender, in amounts sufficient to fully amortize the principal balance of this Note over a fifteen
(15) year amortization period in substantially equal monthly payments. Such monthly payments of principal and interest shall be in the initial amount of Fourteen Thousand Two Hundred Thirty-Five and No/100ths Dollars
($14,235.00) payable on the first day of each month, commencing with the first day of February, 2013, together with such other sums as may become due hereunder or under any instrument securing this Note, until the
entire indebtedness is fully paid, except that any remaining indebtedness if not sooner paid shall be finally due and payable on the first day of January, 2028, which is the maturity date of this Note (“Maturity Date”). The
monthly payment amount will change after each Rate Adjustment Date (as defined in Paragraph 2) to an amount sufficient to repay the then unpaid principal balance of this Note in full at the then current interest rate, in substantially equal monthly
payments over the balance of the amortization period specified above. If applicable, until the payment is again changed, Borrower shall pay the new monthly payment each month beginning on the first day of the first calendar month after the
applicable Rate Adjustment Date. Lender will mail or deliver to Borrower a notice of any changes in the interest rate applicable to this Note, and any resulting changes in the monthly payments required under this Note, prior to the date the first
payment is due after the applicable Rate Adjustment Date. Every payment received with respect hereto shall be applied, in any order that may be determined by Lender in its sole discretion, to sums under this Note, including, without limitation:
(a) late charges; (b) expenses paid or funds advanced by Lender with interest thereon at the Default Rate when applicable (as hereinafter defined); (c) any prepayment fees due with respect to any payment and any other fees which may
remain unpaid; (d) accrued interest on the principal balance from time to time remaining unpaid; and (e) subject to the prepayment provisions herein, the principal balance hereunder. 

2. Interest. The interest rate applicable to this Note will change on the applicable Rate Adjustment Dates. Interest shall be
calculated on the basis of a 360-day year consisting of twelve 30-day months, except that interest due and payable for a period of less than a full month and/or any prepayment shall be calculated on an actual accrual method. The initial interest
rate included in the aforesaid payments, unless adjusted as otherwise provided in this Note, shall be calculated at the rate of Four and Seven-Eighths percent (4.875%) per annum (“Note Rate”) upon the unpaid balance of
principal of this Note. Borrower, jointly and severally, also promises 

  
 Page 1

 
to pay interest at the Note Rate from the date of disbursement of the Loan proceeds evidenced by this Note (“Disbursement Date”) to the date from which interest is included in the first
payment previously described. As used herein, “Rate Adjustment Date(s)” shall be as follows: 
  

	 	•	 	 59 months from the First Payment Date; 

  

	 	•	 	 119 months from the First Payment Date; 

  

	 	(a)	One hundred and twenty (120) days prior to each Rate Adjustment Date, Lender will notify Borrower in writing of the Adjusted Interest Rate that will become
effective in accordance with this Note. The “Adjusted Interest Rate” will be Lender’s then prevailing annual interest rate for similar loans then being originated by Lender with a similar term (equal to the period between the Rate
Adjustment Date and the earlier of the next Rate Adjustment Date or the Maturity Date) then being originated by Lender on properties comparable to the Property (as herein defined) as determined solely by Lender. 

 

	 	(a)	Borrower shall have thirty (30) days from the date of receipt of such notification from Lender to accept or reject the Adjusted Interest Rate. Failure by Borrower
to notify Lender of the acceptance or rejection of the Adjusted Interest Rate within such thirty (30) day period shall be deemed to be a rejection of the Adjusted Interest Rate. If the Adjusted Interest Rate is rejected by Borrower (or deemed
rejected), the entire unpaid principal balance of this Note, all accrued unpaid interest hereon, and any other amounts payable hereunder or under the other Loan Documents (as hereinafter defined) shall be due and payable in full, without a
Prepayment Fee, no later than the Rate Adjustment Date. 

  

	 	(b)	If Borrower accepts the Adjusted Interest Rate for the offered period, the Adjusted Interest Rate shall become effective on the Rate Adjustment Date and monthly
installments of principal and interest shall then be due and payable in an amount to be determined that will amortize the remaining unpaid principal balance of this Note at the Adjusted Interest Rate over the remaining amortization period. In such
case, Borrower shall also have the option to prepay a portion of the remaining unpaid principal balance of this Note as described in paragraph 3(e) below. 

  

	 	(c)	Thereafter, monthly installments of principal and interest on the unpaid principal balance of this Note, at the Adjusted Interest Rate, in the amount thus calculated,
shall be due and payable in consecutive monthly installments commencing on the first day of the calendar month after the Rate Adjustment Date and continuing on the first day of each calendar month thereafter, to and including the monthly installment
of principal and interest due and payable on the earlier of the next Rate Adjustment Date or the Maturity Date. 

3. Prepayment Restrictions; Fees. Borrower shall have the right to prepay, in full but not in part, the obligation
evidenced by this Note upon giving Lender (i) not less than thirty 

  
 Page 2

 
(30) days’ prior written notice of (a) Borrower’s intention to so prepay this Note, and (b) the date upon which such prepayment will be received by Lender (“Prepayment
Date”), and (ii) payment to Lender of the Prepayment Fee (as hereinafter defined), if any, then due to Lender as hereinafter provided. 
  

	 	(a)	As used herein, the term “Prepayment Fee” shall mean an amount which is the greater of 

 

	 	(i)	one percent (1%) of the outstanding principal balance of this Note at the time of prepayment, or 

 

	 	(ii)	the sum of 

  

	 	(A)	the Present Value (as hereinafter defined) of the scheduled monthly payments due under this Note from the Prepayment Date to the earlier of the next Rate Adjustment
Date or the Maturity Date. 

  

	 	(B)	the Present Value of the amount of principal and interest due under this Note on the earlier of the next Rate Adjustment Date or the Maturity Date (assuming all
scheduled monthly payments due prior to such dates were made when due), minus 

  

	 	(C)	the outstanding principal balance of this Note as of the Prepayment Date. 

 The “Present Values” described in (A) and (B) shall be computed on a monthly basis as of the Prepayment Date discounted at a rate equal to the yield-to-maturity of the U.S. Treasury
Note or Bond closest in maturity to the earlier of the next Rate Adjustment Date or the Maturity Date as reported in The Wall Street Journal (or, if The Wall Street Journal is no longer published, as reported in such other daily financial
publication of national circulation which shall be designated by Lender) on the fifth business day preceding the Prepayment Date. Borrower shall be obligated to prepay this Note on the Prepayment Date set forth in the written notice to Lender
required hereinabove, after such notice has been delivered to Lender. 
  

	 	(b)	Notwithstanding the foregoing or any other provision herein to the contrary, if Lender elects to apply insurance proceeds, condemnation awards, or any escrowed amounts,
if applicable, to the reduction of the outstanding principal balance of this Note in the manner provided in the Deed of Trust, no Prepayment Fee shall be due or payable as a result of such application and the monthly installments due and payable
hereunder shall be reduced accordingly. 

  
 Page 3

	 	(c)	In the event the Maturity Date is accelerated by Lender at any time due to a default by Borrower in the payment of principal and/or interest due under this Note or in
the performance of the terms, covenants or conditions contained in this Note, the Deed of Trust or any of the other Loan Documents (as hereinafter defined), then a tender of payment in an amount necessary to satisfy the entire outstanding principal
balance of this Note together with all accrued unpaid interest hereon made by Borrower, or by anyone on behalf of Borrower, at any time prior to, at, or as a result of, a foreclosure sale or sale pursuant to power of sale, shall constitute a
voluntary prepayment hereunder prior to the contracted Maturity Date of this Note thus requiring the payment to Lender of a Prepayment Fee equal to the applicable Prepayment Fee as set forth in paragraph (a) above; provided, however, that in
the event such Prepayment Fee is construed to be interest under the laws of the State of Oregon in any circumstance, such payment shall not be required to the extent that the amount thereof, together with other interest payable hereunder, exceeds
the maximum rate of interest that may be lawfully charged under applicable law. 

  

	 	(d)	Notwithstanding anything contained herein to the contrary, during the ninety (90) day period immediately preceding the Maturity Date of this Note, the entire
outstanding principal balance and all accrued unpaid interest on this Note may be prepaid in whole, but not in part, at par, without incurring a Prepayment Fee. 

 

	 	(e)	Notwithstanding anything contained herein to the contrary, if Borrower accepts the Adjusted Interest Rate as provided in paragraph 2 above, Borrower shall have the
right to prepay a portion of the unpaid principal balance of this Note prior to the Rate Adjustment Date, without a Prepayment Fee, provided the remaining principal balance of this Note after the prepayment may not be less than $150,000.00. Any
partial prepayment must be received by Lender no less than thirty (30) days prior to the Rate Adjustment Date. Any partial prepayment will be applied to pay down the principal balance of this Note upon Lender’s receipt of such prepayment.
The then remaining principal balance of this Note will then be used to calculate the new monthly payment amount as described in paragraph 2(d) above. 

 4. Waiver. To the extent permitted by law, each and every Borrower, surety, guarantor, endorser or signator to this Note and any other party now or hereafter liable for the payment of this Note, in
whatever capacity, whether in whole or in part hereby (a) waives notice of intent to demand, presentment for payment, notice of demand, demand, notice of nonpayment, protest, notice of protest, notice of dishonor, notice of intent to
accelerate, notice of acceleration, and all other notices, filing of suit, and diligence in collecting this Note and/or enforcing any of the security herefor; (b) agrees that Lender shall not be required first to institute suit or exhaust its
remedies against Borrower or others liable or to become liable hereon or against the Property (as hereinafter defined), it being understood that Lender may exercise its rights hereunder and pursue its remedies in any order and at any time it
desires, and may do so, without notice to or consent of any such person, and without in any way diminishing the obligations of any such 

  
 Page 4

 
person; (c) consents to Lender dealing with any such person with reference to this Note by way of forbearance, extension, modification, compromise or otherwise; (d) consents and agrees
to any and all extensions, releases, renewals, partial payments, surrenders, exchanges, substitutions of security herefor, compromises, discharges or modifications and any other indulgence with respect to any right or obligation secured by or
provided by the Deed of Trust, Mortgage, or Deed to Secure Debt, as the case may be, securing this Note (“Deed of Trust”) or any other instrument securing this Note, before or after the maturity of this Note, without notice thereof to any
of them; or (e) consents and agrees that Lender may take any other action which Lender may deem reasonably appropriate to protect its security interest in the property securing this Note (“Property”). Any such action(s) taken under
the preceding sentence may be taken against one, all, or some of such persons, and Lender may take any such action against one differently than another of such persons, in Lender’s sole discretion. 

5. Default; Default Rate. Time is material and of the essence hereof with respect to the payment of any sums of any nature by and
the performance of all duties or obligations of the Borrower. Each of the following shall be an Event of Default under this Note: (a) failure to make any payment of principal and/or interest or any other payment required by the provisions of
this Note or of any instrument securing this Note on the date such payment or payments are due; (b) failure to perform any other provision of this Note or of any instrument securing this Note; (c) falsity in any material respect of the
warranties in the Deed of Trust or of any representation, warranty or information furnished by Borrower or its agents to Lender in connection with the loan evidenced by this Note (“Loan”); or (d) failure to pay or perform under any
Other Loan Documents (as described and defined in the Deed of Trust). Upon the occurrence of any Event of Default, any sum not paid as provided in this Note or in any instrument securing this Note, shall, at the option of Lender, without notice,
bear interest from such due date at a rate of interest (“Default Rate”) equal to four (4) percentage points per annum greater than the Note Rate, or the maximum rate of interest permitted by law, whichever is the lesser, and, at the
option of Lender, the unpaid balance of principal, accrued interest, plus any other sums due under this Note, or under any instrument securing this Note shall at once become due and payable, without notice except as described in paragraph 12, and
shall bear interest at the Default Rate. If an Event of Default occurs during a period of time in which prepayment is permitted only on payment of a prepayment fee, such fee shall be computed as if the sum declared due on default were a prepayment
and shall be added to the sums due and payable hereunder. 
 6. Late Charges. If any payment is not received by Lender
(or by the correspondent if a correspondent has been designated by Lender to receive payments) within five (5) calendar days after its due date, Lender, at its option, may assess a late charge equal to five cents for each $1.00 of each overdue
payment or the maximum late charge permitted by the laws of the state in which the Property is located, whichever is less. Such late charge shall be due and payable on demand, and Lender, at its option, may (a) refuse to accept any late payment
or any subsequent payment unless accompanied by such late charge, (b) add such late charge to the principal balance of this Note or (c) treat the failure to pay such late charge as demanded as an Event of Default hereunder. If such late
charge is added to the principal balance of this Note, it 

  
 Page 5

 
shall bear interest at the Default Rate. The late charge is compensation for damages suffered by Lender and does not constitute interest. 

7. Acknowledgments Regarding Default Rate, Late Charges and Prepayment Charges. 

 

	 	(a)	Borrower acknowledges and agrees that (i) a default in making the payments herein agreed to be paid when due will result in the Lender incurring additional expense
in servicing the Loan, loss to Lender of the use of the money due, and frustration to Lender in meeting its other commitments, (ii) if for any reason it fails to pay any amounts due hereunder, Lender shall be entitled to damages for the
detriment caused thereby, but that it is extremely difficult and impractical to ascertain the extent of such damages, and (iii) the Default Rate and the late charge described in this Note are a reasonable estimate of such damages.

  

	 	(b)	Borrower acknowledges and agrees that (i) prepayment prior to the maturity date may result in loss to Lender, (ii) the amount of the loss will depend on the
interest rates at the time of prepayment, the amount of principal prepaid and the length of time remaining between the prepayment date and the scheduled maturity date, (iii) prepayment is most likely to occur when interest rates have dropped
below the Note Rate, and (iv) because it is extremely difficult and impractical to ascertain now the amount of loss Lender may suffer in the event of prepayment, (A) Lender shall be entitled to damages for the loss caused by prepayment and
(B) the prepayment fee described in this Note is a reasonable measure of such damages. Borrower agrees that the prepayment fee described in this Note shall be imposed, to the extent permitted by law, whether the prepayment is voluntary,
involuntary or by operation of law, in connection with an Event of Default, or required by Lender in connection with a transfer or contract to transfer the Property, provided that no prepayment fee shall be added to sums prepaid with casualty
insurance proceeds or condemnation awards. 

  

	 	(c)	Borrower expressly (i) waives any right to prepay the Loan without payment of the prepayment fee described above in connection with a transfer or contract to
transfer the Property by Borrower, or a successor in interest of the undersigned, and (ii) agrees to pay such prepayment fee as provided above in connection with such a transfer or contract to transfer. 

 

	 	(d)	Borrower represents that it is a knowledgeable real estate investor and fully understands the effect of the fees, charges, waivers and agreements contained above.
Borrower acknowledges and agrees that the making of the Loan by Lender at the interest rate and with the other terms described herein is sufficient consideration for such fees, charges, waiver and agreement, and that Lender would not make this Loan
on these terms without such fees, charges, waiver and agreement. 

  
 Page 6

 8. Expenses and Attorney Fees. If Lender refers this Note to an attorney for
collection or seeks legal advice following a default alleged in good faith under this Note; if Lender is the prevailing party in any litigation instituted in connection with this Note; or if Lender or any other person initiates any judicial or
nonjudicial action, suit or proceeding, including but not limited to a foreclosure sale, in connection with this Note or the security therefor, and an attorney is employed by Lender to (a) appear in any such action, suit or proceeding,
(b) reclaim, seek relief from a judicial or statutory stay, sequester, protect, preserve or enforce Lender’s interest in this Note, the Deed of Trust, or any other security for this Note (including but not limited to proceedings at
appellate levels, under federal bankruptcy law, in eminent domain, under probate proceedings, or in connection with any state or federal tax lien), or (c) assist Lender in any foreclosure sale, then, in any such event, Borrower shall pay
attorney’s fees and costs and expenses incurred by Lender and/or its attorney in connection with the above-mentioned events and any appeals or discretionary reviews related to such events, including but not limited to costs incurred in
searching records, the cost of title reports, the cost of appraisals, and the cost of surveyors’ reports. If not paid within ten days after such fees, costs and expenses become due and written demand for payment is made upon Borrower, such
amount may, at Lender’s option, be added to the principal of this Note and shall bear interest at the Default Rate. 
 9.
No Usury. In no event shall any payment of interest or any other sum payable hereunder both (a) violate the usury laws of the state in which the Property is located and (b) allow Borrower to bring a claim for usury or raise usury as
a defense in any action on this Note. If it is established that both (a) and (b) have occurred, and any payment exceeding lawful limits has been received, Lender shall refund such excess or, at its option, credit the excess amount to
principal, but such payments shall not affect the obligation to make periodic payments required herein. 
 10. Security.
The indebtedness evidenced by this Note is secured by the Deed of Trust, Mortgage, or Deed to Secure Debt, as applicable (“Deed of Trust”), of even date and may be secured by other security instruments. 

11. Due on Sale or Encumbrance. As provided in the Deed of Trust securing this Note, and subject to any exceptions provided
therein, transfers or encumbrances of the Property, or of ownership interests in Borrower, cause all sums evidenced by this Note and/or secured by the Deed of Trust or by any other Loan Document to become immediately due and payable. By signing this
Note, Borrower acknowledges that Borrower has received and reviewed a copy of the Deed of Trust and is familiar with the provisions restricting the transfer of the Property and the ownership interests therein and assumptions of the Loan. 

12. Notice and Opportunity to Cure. Notwithstanding any other provision of this Note, Lender shall not accelerate the sums
evidenced hereby because of a nonmonetary default (defined below) by Borrower unless Borrower fails to cure the default within fifteen (15) days of the earlier of the date on which Lender mails or delivers written notice of the default to
Borrower. For purposes of this Note, the term “nonmonetary default” means a failure by Borrower or any other person or entity to perform any obligation contained in this Note or any other document or instrument evidencing or securing the
Loan (collectively, “Loan 

  
 Page 7

 
Documents”), other than the obligation to make payments provided for in this Note or any other Loan Document. If a nonmonetary default is capable of being cured and the cure cannot
reasonably be completed within the fifteen (15) day cure period, the cure period shall be extended up to sixty (60) days so long as Borrower has commenced action to cure within the fifteen (15) day cure period, and in Lender’s
opinion, Borrower is proceeding to cure the default with due diligence. No notice of default and no opportunity to cure shall be required if during any 12-month period Lender has already sent a notice to Borrower concerning default in the
performance of the same obligation. None of the foregoing shall be construed to obligate Lender to forebear in any other manner from exercising its remedies and Lender may pursue any other rights or remedies which Lender may have because of a
default. 
 13. Commercial Purpose. The obligation evidenced by this Note is exclusively for commercial or business
purposes. 
 14. Notices. All notices required or permitted under this Note shall be in writing and may be
telecopies, cabled, delivered by hand, or mailed by first class registered or certified mail, return receipt requested, postage prepaid, and addressed as follows: 
 If to Lender: 
 STANDARD INSURANCE COMPANY 

c/o StanCorp Mortgage Investors, LLC 
 Attn: Mortgage Loan Servicing T3A 
 19225 NW Tanasbourne Drive

 Hillsboro, OR 97124 
 If to Borrower: 
 VITRAN INDIANA, LLC 

Attn: Chris Keylon 
 P.O. Box 1290 (for U.S.P.S. mail delivery) 
 2850 Kramer Road (for
courier or other delivery) 
 Gibsonia, PA 15044 

Changes in the respective addresses to which such notices shall be directed may be from time to time by either party by notice to the
other party given at least ten (10) days before such change of address is to become effective. Notices given by mail in accordance with this provision shall be deemed to have been given three (3) days after the date of dispatch; notices
given by any other means shall be deemed to have been given when received. 
 15. Choice of Law, Jurisdiction and Venue;
Enforceability; Severability. Except for matters relating to the validity and/or enforcement of the security interest of Lender in the Property, which shall be determined in accordance with the applicable laws of the state in which the affected
Property is situated, the law of the state of Oregon shall govern the validity, interpretation, construction, performance and enforcement of this Note and any and all other 

  
 Page 8

 
Loan Documents. If, for any reason or to any extent any word, term, provision, or clause of this Note or any of the other Loan Documents, or its application to any person or situation, shall be
found by a court or other adjudicating authority to be invalid or unenforceable, the remaining words, terms, provisions, or clauses shall be enforced, and the affected work, term, clause, or provision shall be applied, to the fullest extent
permitted by law. Borrower irrevocably submits to the jurisdiction of Multnomah County state or Portland, Oregon federal court in any action or proceeding brought to enforce or otherwise arising out of or relating to this Note or any of the
other Loan Documents, and waives any claim that such forum is inappropriate and/or an inconvenient forum. 
 16. Successors
and Assigns. Whenever used herein, the words “undersigned”, “Borrower” and “Lender” shall be deemed to include their respective heirs, devisees, executors, administrators, personal representatives, successors and
assigns. 
 NOTICES TO BORROWER 
 DO NOT SIGN THIS NOTE BEFORE YOU READ IT. THIS NOTE PROVIDES FOR THE PAYMENT OF A FEE IF THIS NOTE IS PREPAID PRIOR TO THE DATE PROVIDED FOR REPAYMENT IN THIS NOTE AND OTHER CHARGES IF PAYMENTS ARE
LATE. IF YOU HAVE ANY QUESTIONS ABOUT THIS NOTE, YOU SHOULD CONSULT YOUR ATTORNEY. 
 ORS 41.580 Disclosure. UNDER OREGON
LAW, MOST AGREEMENTS, PROMISES AND COMMITMENTS BY LENDER, CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES, OR SECURED SOLELY BY THE BORROWER’S RESIDENCE MUST BE IN WRITING, EXPRESS
CONSIDERATION AND BE SIGNED BY AN AUTHORIZED REPRESENTATIVE OF LENDER TO BE ENFORCEABLE. 
 BORROWER: 

VITRAN INDIANA, LLC, 
 a Delaware
limited liability company 
  

			
	By:	 	 /s/ CHRIS KEYLON

		 	CHRIS KEYLON
		 	Its: Authorized Manager

  
 Page 9

 SIC Loan No. B2110720 

NOTE 
  

					
	$1,575,000.00	  	 	December 19, 2012	  

 FOR VALUE RECEIVED, the undersigned, VITRAN KANSAS, LLC, a Delaware limited liability company
(“Borrower”), promises to pay in lawful money of the United States, to the order of STANDARD INSURANCE COMPANY, an Oregon corporation (together with any assigns, collectively, “Lender”), at its office in Hillsboro, Oregon,
or such other place as Lender may designate, the principal amount of a loan (“Loan”) of One Million Five Hundred Seventy-Five Thousand and No/100ths Dollars ($1,575,000.00), together with interest thereon, on the following
agreements, terms and conditions. 
 1. Payments. Borrower shall make monthly payments of principal and interest to
Lender, in amounts sufficient to fully amortize the principal balance of this Note over a fifteen (15) year amortization period in substantially equal monthly payments. Such monthly payments of principal and interest shall be in the initial
amount of Twelve Thousand Three Hundred Fifty-Three and No/100ths Dollars ($12,353.00) payable on the first day of each month, commencing with the first day of February, 2013, together with such other sums
as may become due hereunder or under any instrument securing this Note, until the entire indebtedness is fully paid, except that any remaining indebtedness if not sooner paid shall be finally due and payable on the first day of January,
2028, which is the maturity date of this Note (“Maturity Date”). The monthly payment amount will change after each Rate Adjustment Date (as defined in Paragraph 2) to an amount sufficient to repay the then unpaid principal balance of
this Note in full at the then current interest rate, in substantially equal monthly payments over the balance of the amortization period specified above. If applicable, until the payment is again changed, Borrower shall pay the new monthly payment
each month beginning on the first day of the first calendar month after the applicable Rate Adjustment Date. Lender will mail or deliver to Borrower a notice of any changes in the interest rate applicable to this Note, and any resulting changes in
the monthly payments required under this Note, prior to the date the first payment is due after the applicable Rate Adjustment Date. Every payment received with respect hereto shall be applied, in any order that may be determined by Lender in its
sole discretion, to sums under this Note, including, without limitation: (a) late charges; (b) expenses paid or funds advanced by Lender with interest thereon at the Default Rate when applicable (as hereinafter defined); (c) any
prepayment fees due with respect to any payment and any other fees which may remain unpaid; (d) accrued interest on the principal balance from time to time remaining unpaid; and (e) subject to the prepayment provisions herein, the
principal balance hereunder. 
 2. Interest. The interest rate applicable to this Note will change on the applicable Rate
Adjustment Dates. Interest shall be calculated on the basis of a 360-day year consisting of twelve 30-day months, except that interest due and payable for a period of less than a full month and/or any prepayment shall be calculated on an actual
accrual method. The initial interest rate included in the aforesaid payments, unless adjusted as otherwise provided in this Note, shall be calculated at the rate of Four and Seven-Eighths percent (4.875%) per annum (“Note
Rate”) upon the unpaid balance of principal of this Note. Borrower, jointly and severally, also promises 

  
 Page 1

 
to pay interest at the Note Rate from the date of disbursement of the Loan proceeds evidenced by this Note (“Disbursement Date”) to the date from which interest is included in the first
payment previously described. As used herein, “Rate Adjustment Date(s)” shall be as follows: 
  

	 	•	 	 59 months from the First Payment Date; 

  

	 	•	 	 119 months from the First Payment Date; 

  

	 	(a)	One hundred and twenty (120) days prior to each Rate Adjustment Date, Lender will notify Borrower in writing of the Adjusted Interest Rate that will become
effective in accordance with this Note. The “Adjusted Interest Rate” will be Lender’s then prevailing annual interest rate for similar loans then being originated by Lender with a similar term (equal to the period between the Rate
Adjustment Date and the earlier of the next Rate Adjustment Date or the Maturity Date) then being originated by Lender on properties comparable to the Property (as herein defined) as determined solely by Lender. 

 

	 	(a)	Borrower shall have thirty (30) days from the date of receipt of such notification from Lender to accept or reject the Adjusted Interest Rate. Failure by Borrower
to notify Lender of the acceptance or rejection of the Adjusted Interest Rate within such thirty (30) day period shall be deemed to be a rejection of the Adjusted Interest Rate. If the Adjusted Interest Rate is rejected by Borrower (or deemed
rejected), the entire unpaid principal balance of this Note, all accrued unpaid interest hereon, and any other amounts payable hereunder or under the other Loan Documents (as hereinafter defined) shall be due and payable in full, without a
Prepayment Fee, no later than the Rate Adjustment Date. 

  

	 	(b)	If Borrower accepts the Adjusted Interest Rate for the offered period, the Adjusted Interest Rate shall become effective on the Rate Adjustment Date and monthly
installments of principal and interest shall then be due and payable in an amount to be determined that will amortize the remaining unpaid principal balance of this Note at the Adjusted Interest Rate over the remaining amortization period. In such
case, Borrower shall also have the option to prepay a portion of the remaining unpaid principal balance of this Note as described in paragraph 3(e) below. 

  

	 	(c)	Thereafter, monthly installments of principal and interest on the unpaid principal balance of this Note, at the Adjusted Interest Rate, in the amount thus calculated,
shall be due and payable in consecutive monthly installments commencing on the first day of the calendar month after the Rate Adjustment Date and continuing on the first day of each calendar month thereafter, to and including the monthly installment
of principal and interest due and payable on the earlier of the next Rate Adjustment Date or the Maturity Date. 

3. Prepayment Restrictions; Fees. Borrower shall have the right to prepay, in full but not in part, the obligation
evidenced by this Note upon giving Lender (i) not less than thirty 

  
 Page 2

 
(30) days’ prior written notice of (a) Borrower’s intention to so prepay this Note, and (b) the date upon which such prepayment will be received by Lender (“Prepayment
Date”), and (ii) payment to Lender of the Prepayment Fee (as hereinafter defined), if any, then due to Lender as hereinafter provided. 
  

	 	(a)	As used herein, the term “Prepayment Fee” shall mean an amount which is the greater of 

 

	 	(i)	one percent (1%) of the outstanding principal balance of this Note at the time of prepayment, or 

 

	 	(ii)	the sum of 

  

	 	(A)	the Present Value (as hereinafter defined) of the scheduled monthly payments due under this Note from the Prepayment Date to the earlier of the next Rate Adjustment
Date or the Maturity Date. 

  

	 	(B)	the Present Value of the amount of principal and interest due under this Note on the earlier of the next Rate Adjustment Date or the Maturity Date (assuming all
scheduled monthly payments due prior to such dates were made when due), minus 

  

	 	(C)	the outstanding principal balance of this Note as of the Prepayment Date. 

 The “Present Values” described in (A) and (B) shall be computed on a monthly basis as of the Prepayment Date discounted at a rate equal to the yield-to-maturity of the U.S. Treasury
Note or Bond closest in maturity to the earlier of the next Rate Adjustment Date or the Maturity Date as reported in The Wall Street Journal (or, if The Wall Street Journal is no longer published, as reported in such other daily financial
publication of national circulation which shall be designated by Lender) on the fifth business day preceding the Prepayment Date. Borrower shall be obligated to prepay this Note on the Prepayment Date set forth in the written notice to Lender
required hereinabove, after such notice has been delivered to Lender. 
  

	 	(b)	Notwithstanding the foregoing or any other provision herein to the contrary, if Lender elects to apply insurance proceeds, condemnation awards, or any escrowed amounts,
if applicable, to the reduction of the outstanding principal balance of this Note in the manner provided in the Deed of Trust, no Prepayment Fee shall be due or payable as a result of such application and the monthly installments due and payable
hereunder shall be reduced accordingly. 

  
 Page 3

	 	(c)	In the event the Maturity Date is accelerated by Lender at any time due to a default by Borrower in the payment of principal and/or interest due under this Note or in
the performance of the terms, covenants or conditions contained in this Note, the Deed of Trust or any of the other Loan Documents (as hereinafter defined), then a tender of payment in an amount necessary to satisfy the entire outstanding principal
balance of this Note together with all accrued unpaid interest hereon made by Borrower, or by anyone on behalf of Borrower, at any time prior to, at, or as a result of, a foreclosure sale or sale pursuant to power of sale, shall constitute a
voluntary prepayment hereunder prior to the contracted Maturity Date of this Note thus requiring the payment to Lender of a Prepayment Fee equal to the applicable Prepayment Fee as set forth in paragraph (a) above; provided, however, that in
the event such Prepayment Fee is construed to be interest under the laws of the State of Oregon in any circumstance, such payment shall not be required to the extent that the amount thereof, together with other interest payable hereunder, exceeds
the maximum rate of interest that may be lawfully charged under applicable law. 

  

	 	(d)	Notwithstanding anything contained herein to the contrary, during the ninety (90) day period immediately preceding the Maturity Date of this Note, the entire
outstanding principal balance and all accrued unpaid interest on this Note may be prepaid in whole, but not in part, at par, without incurring a Prepayment Fee. 

 

	 	(e)	Notwithstanding anything contained herein to the contrary, if Borrower accepts the Adjusted Interest Rate as provided in paragraph 2 above, Borrower shall have the
right to prepay a portion of the unpaid principal balance of this Note prior to the Rate Adjustment Date, without a Prepayment Fee, provided the remaining principal balance of this Note after the prepayment may not be less than $150,000.00. Any
partial prepayment must be received by Lender no less than thirty (30) days prior to the Rate Adjustment Date. Any partial prepayment will be applied to pay down the principal balance of this Note upon Lender’s receipt of such prepayment.
The then remaining principal balance of this Note will then be used to calculate the new monthly payment amount as described in paragraph 2(d) above. 

 4. Waiver. To the extent permitted by law, each and every Borrower, surety, guarantor, endorser or signator to this Note and any other party now or hereafter liable for the payment of this Note, in
whatever capacity, whether in whole or in part hereby (a) waives notice of intent to demand, presentment for payment, notice of demand, demand, notice of nonpayment, protest, notice of protest, notice of dishonor, notice of intent to
accelerate, notice of acceleration, and all other notices, filing of suit, and diligence in collecting this Note and/or enforcing any of the security herefor; (b) agrees that Lender shall not be required first to institute suit or exhaust its
remedies against Borrower or others liable or to become liable hereon or against the Property (as hereinafter defined), it being understood that Lender may exercise its rights hereunder and pursue its remedies in any order and at any time it
desires, and may do so, without notice to or consent of any such person, and without in any way diminishing the obligations of any such 

  
 Page 4

 
person; (c) consents to Lender dealing with any such person with reference to this Note by way of forbearance, extension, modification, compromise or otherwise; (d) consents and agrees
to any and all extensions, releases, renewals, partial payments, surrenders, exchanges, substitutions of security herefor, compromises, discharges or modifications and any other indulgence with respect to any right or obligation secured by or
provided by the Deed of Trust, Mortgage, or Deed to Secure Debt, as the case may be, securing this Note (“Deed of Trust”) or any other instrument securing this Note, before or after the maturity of this Note, without notice thereof to any
of them; or (e) consents and agrees that Lender may take any other action which Lender may deem reasonably appropriate to protect its security interest in the property securing this Note (“Property”). Any such action(s) taken under
the preceding sentence may be taken against one, all, or some of such persons, and Lender may take any such action against one differently than another of such persons, in Lender’s sole discretion. 

5. Default; Default Rate. Time is material and of the essence hereof with respect to the payment of any sums of any nature by and
the performance of all duties or obligations of the Borrower. Each of the following shall be an Event of Default under this Note: (a) failure to make any payment of principal and/or interest or any other payment required by the provisions of
this Note or of any instrument securing this Note on the date such payment or payments are due; (b) failure to perform any other provision of this Note or of any instrument securing this Note; (c) falsity in any material respect of the
warranties in the Deed of Trust or of any representation, warranty or information furnished by Borrower or its agents to Lender in connection with the loan evidenced by this Note (“Loan”); or (d) failure to pay or perform under any
Other Loan Documents (as described and defined in the Deed of Trust). Upon the occurrence of any Event of Default, any sum not paid as provided in this Note or in any instrument securing this Note, shall, at the option of Lender, without notice,
bear interest from such due date at a rate of interest (“Default Rate”) equal to four (4) percentage points per annum greater than the Note Rate, or the maximum rate of interest permitted by law, whichever is the lesser, and, at the
option of Lender, the unpaid balance of principal, accrued interest, plus any other sums due under this Note, or under any instrument securing this Note shall at once become due and payable, without notice except as described in paragraph 12, and
shall bear interest at the Default Rate. If an Event of Default occurs during a period of time in which prepayment is permitted only on payment of a prepayment fee, such fee shall be computed as if the sum declared due on default were a prepayment
and shall be added to the sums due and payable hereunder. 
 6. Late Charges. If any payment is not received by Lender
(or by the correspondent if a correspondent has been designated by Lender to receive payments) within five (5) calendar days after its due date, Lender, at its option, may assess a late charge equal to five cents for each $1.00 of each overdue
payment or the maximum late charge permitted by the laws of the state in which the Property is located, whichever is less. Such late charge shall be due and payable on demand, and Lender, at its option, may (a) refuse to accept any late payment
or any subsequent payment unless accompanied by such late charge, (b) add such late charge to the principal balance of this Note or (c) treat the failure to pay such late charge as demanded as an Event of Default hereunder. If such late
charge is added to the principal balance of this Note, it 

  
 Page 5

 
shall bear interest at the Default Rate. The late charge is compensation for damages suffered by Lender and does not constitute interest. 

7. Acknowledgments Regarding Default Rate, Late Charges and Prepayment Charges. 

 

	 	(a)	Borrower acknowledges and agrees that (i) a default in making the payments herein agreed to be paid when due will result in the Lender incurring additional expense
in servicing the Loan, loss to Lender of the use of the money due, and frustration to Lender in meeting its other commitments, (ii) if for any reason it fails to pay any amounts due hereunder, Lender shall be entitled to damages for the
detriment caused thereby, but that it is extremely difficult and impractical to ascertain the extent of such damages, and (iii) the Default Rate and the late charge described in this Note are a reasonable estimate of such damages.

  

	 	(b)	Borrower acknowledges and agrees that (i) prepayment prior to the maturity date may result in loss to Lender, (ii) the amount of the loss will depend on the
interest rates at the time of prepayment, the amount of principal prepaid and the length of time remaining between the prepayment date and the scheduled maturity date, (iii) prepayment is most likely to occur when interest rates have dropped
below the Note Rate, and (iv) because it is extremely difficult and impractical to ascertain now the amount of loss Lender may suffer in the event of prepayment, (A) Lender shall be entitled to damages for the loss caused by prepayment and
(B) the prepayment fee described in this Note is a reasonable measure of such damages. Borrower agrees that the prepayment fee described in this Note shall be imposed, to the extent permitted by law, whether the prepayment is voluntary,
involuntary or by operation of law, in connection with an Event of Default, or required by Lender in connection with a transfer or contract to transfer the Property, provided that no prepayment fee shall be added to sums prepaid with casualty
insurance proceeds or condemnation awards. 

  

	 	(c)	Borrower expressly (i) waives any right to prepay the Loan without payment of the prepayment fee described above in connection with a transfer or contract to
transfer the Property by Borrower, or a successor in interest of the undersigned, and (ii) agrees to pay such prepayment fee as provided above in connection with such a transfer or contract to transfer. 

 

	 	(d)	Borrower represents that it is a knowledgeable real estate investor and fully understands the effect of the fees, charges, waivers and agreements contained above.
Borrower acknowledges and agrees that the making of the Loan by Lender at the interest rate and with the other terms described herein is sufficient consideration for such fees, charges, waiver and agreement, and that Lender would not make this Loan
on these terms without such fees, charges, waiver and agreement. 

  
 Page 6

 8. Expenses and Attorney Fees. If Lender refers this Note to an attorney for
collection or seeks legal advice following a default alleged in good faith under this Note; if Lender is the prevailing party in any litigation instituted in connection with this Note; or if Lender or any other person initiates any judicial or
nonjudicial action, suit or proceeding, including but not limited to a foreclosure sale, in connection with this Note or the security therefor, and an attorney is employed by Lender to (a) appear in any such action, suit or proceeding,
(b) reclaim, seek relief from a judicial or statutory stay, sequester, protect, preserve or enforce Lender’s interest in this Note, the Deed of Trust, or any other security for this Note (including but not limited to proceedings at
appellate levels, under federal bankruptcy law, in eminent domain, under probate proceedings, or in connection with any state or federal tax lien), or (c) assist Lender in any foreclosure sale, then, in any such event, Borrower shall pay
attorney’s fees and costs and expenses incurred by Lender and/or its attorney in connection with the above-mentioned events and any appeals or discretionary reviews related to such events, including but not limited to costs incurred in
searching records, the cost of title reports, the cost of appraisals, and the cost of surveyors’ reports. If not paid within ten days after such fees, costs and expenses become due and written demand for payment is made upon Borrower, such
amount may, at Lender’s option, be added to the principal of this Note and shall bear interest at the Default Rate. 
 9.
No Usury. In no event shall any payment of interest or any other sum payable hereunder both (a) violate the usury laws of the state in which the Property is located and (b) allow Borrower to bring a claim for usury or raise usury as
a defense in any action on this Note. If it is established that both (a) and (b) have occurred, and any payment exceeding lawful limits has been received, Lender shall refund such excess or, at its option, credit the excess amount to
principal, but such payments shall not affect the obligation to make periodic payments required herein. 
 10. Security.
The indebtedness evidenced by this Note is secured by the Deed of Trust, Mortgage, or Deed to Secure Debt, as applicable (“Deed of Trust”), of even date and may be secured by other security instruments. 

11. Due on Sale or Encumbrance. As provided in the Deed of Trust securing this Note, and subject to any exceptions provided
therein, transfers or encumbrances of the Property, or of ownership interests in Borrower, cause all sums evidenced by this Note and/or secured by the Deed of Trust or by any other Loan Document to become immediately due and payable. By signing this
Note, Borrower acknowledges that Borrower has received and reviewed a copy of the Deed of Trust and is familiar with the provisions restricting the transfer of the Property and the ownership interests therein and assumptions of the Loan. 

12. Notice and Opportunity to Cure. Notwithstanding any other provision of this Note, Lender shall not accelerate the sums
evidenced hereby because of a nonmonetary default (defined below) by Borrower unless Borrower fails to cure the default within fifteen (15) days of the earlier of the date on which Lender mails or delivers written notice of the default to
Borrower. For purposes of this Note, the term “nonmonetary default” means a failure by Borrower or any other person or entity to perform any obligation contained in this Note or any other document or instrument evidencing or securing the
Loan (collectively, “Loan 

  
 Page 7

 
Documents”), other than the obligation to make payments provided for in this Note or any other Loan Document. If a nonmonetary default is capable of being cured and the cure cannot
reasonably be completed within the fifteen (15) day cure period, the cure period shall be extended up to sixty (60) days so long as Borrower has commenced action to cure within the fifteen (15) day cure period, and in Lender’s
opinion, Borrower is proceeding to cure the default with due diligence. No notice of default and no opportunity to cure shall be required if during any 12-month period Lender has already sent a notice to Borrower concerning default in the
performance of the same obligation. None of the foregoing shall be construed to obligate Lender to forebear in any other manner from exercising its remedies and Lender may pursue any other rights or remedies which Lender may have because of a
default. 
 13. Commercial Purpose. The obligation evidenced by this Note is exclusively for commercial or business
purposes. 
 14. Notices. All notices required or permitted under this Note shall be in writing and may be
telecopies, cabled, delivered by hand, or mailed by first class registered or certified mail, return receipt requested, postage prepaid, and addressed as follows: 
 If to Lender: 
 STANDARD INSURANCE COMPANY 

c/o StanCorp Mortgage Investors, LLC 
 Attn: Mortgage Loan Servicing T3A 
 19225 NW Tanasbourne Drive

 Hillsboro, OR 97124 
 If to Borrower: 
 VITRAN KANSAS, LLC 

Attn: Chris Keylon 
 P.O. Box 1290 (for U.S.P.S. mail delivery) 
 2850 Kramer Road (for
courier or other delivery) 
 Gibsonia, PA 15044 

Changes in the respective addresses to which such notices shall be directed may be from time to time by either party by notice to the
other party given at least ten (10) days before such change of address is to become effective. Notices given by mail in accordance with this provision shall be deemed to have been given three (3) days after the date of dispatch; notices
given by any other means shall be deemed to have been given when received. 
 15. Choice of Law, Jurisdiction and Venue;
Enforceability; Severability. Except for matters relating to the validity and/or enforcement of the security interest of Lender in the Property, which shall be determined in accordance with the applicable laws of the state in which the affected
Property is situated, the law of the state of Oregon shall govern the validity, interpretation, construction, performance and enforcement of this Note and any and all other 

  
 Page 8

 
Loan Documents. If, for any reason or to any extent any word, term, provision, or clause of this Note or any of the other Loan Documents, or its application to any person or situation, shall be
found by a court or other adjudicating authority to be invalid or unenforceable, the remaining words, terms, provisions, or clauses shall be enforced, and the affected work, term, clause, or provision shall be applied, to the fullest extent
permitted by law. Borrower irrevocably submits to the jurisdiction of Multnomah County state or Portland, Oregon federal court in any action or proceeding brought to enforce or otherwise arising out of or relating to this Note or any of the
other Loan Documents, and waives any claim that such forum is inappropriate and/or an inconvenient forum. 
 16. Successors
and Assigns. Whenever used herein, the words “undersigned”, “Borrower” and “Lender” shall be deemed to include their respective heirs, devisees, executors, administrators, personal representatives, successors and
assigns. 
 NOTICES TO BORROWER 
 DO NOT SIGN THIS NOTE BEFORE YOU READ IT. THIS NOTE PROVIDES FOR THE PAYMENT OF A FEE IF THIS NOTE IS PREPAID PRIOR TO THE DATE PROVIDED FOR REPAYMENT IN THIS NOTE AND OTHER CHARGES IF PAYMENTS ARE
LATE. IF YOU HAVE ANY QUESTIONS ABOUT THIS NOTE, YOU SHOULD CONSULT YOUR ATTORNEY. 
 ORS 41.580 Disclosure. UNDER OREGON
LAW, MOST AGREEMENTS, PROMISES AND COMMITMENTS BY LENDER, CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES, OR SECURED SOLELY BY THE BORROWER’S RESIDENCE MUST BE IN WRITING, EXPRESS
CONSIDERATION AND BE SIGNED BY AN AUTHORIZED REPRESENTATIVE OF LENDER TO BE ENFORCEABLE. 
 BORROWER: 

VITRAN KANSAS, LLC, 
 a Delaware
limited liability company 
  

			
	By:	 	 /s/ CHRIS KEYLON

		 	CHRIS KEYLON
		 	Its: Authorized Manager

  
 Page 9

 SIC Loan No. B2110704 

NOTE 
  

					
	$1,435,000.00	  	 	December 19, 2012	  

 FOR VALUE RECEIVED, the undersigned, VITRAN MARYLAND, LLC, a Delaware limited liability company
(“Borrower”), promises to pay in lawful money of the United States, to the order of STANDARD INSURANCE COMPANY, an Oregon corporation (together with any assigns, collectively, “Lender”), at its office in Hillsboro, Oregon,
or such other place as Lender may designate, the principal amount of a loan (“Loan”) of One Million Four Hundred Thirty-Five Thousand and No/100ths Dollars ($1,435,000.00), together with interest thereon, on the following
agreements, terms and conditions. 
 1. Payments. Borrower shall make monthly payments of principal and interest
to Lender, in amounts sufficient to fully amortize the principal balance of this Note over a fifteen (15) year amortization period in substantially equal monthly payments. Such monthly payments of principal and interest shall be in the initial
amount of Eleven Thousand Two Hundred Fifty-Five and No/100ths Dollars ($11,255.00) payable on the first day of each month, commencing with the first day of February, 2013, together with such other sums as
may become due hereunder or under any instrument securing this Note, until the entire indebtedness is fully paid, except that any remaining indebtedness if not sooner paid shall be finally due and payable on the first day of January,
2028, which is the maturity date of this Note (“Maturity Date”). The monthly payment amount will change after each Rate Adjustment Date (as defined in Paragraph 2) to an amount sufficient to repay the then unpaid principal balance of
this Note in full at the then current interest rate, in substantially equal monthly payments over the balance of the amortization period specified above. If applicable, until the payment is again changed, Borrower shall pay the new monthly payment
each month beginning on the first day of the first calendar month after the applicable Rate Adjustment Date. Lender will mail or deliver to Borrower a notice of any changes in the interest rate applicable to this Note, and any resulting changes in
the monthly payments required under this Note, prior to the date the first payment is due after the applicable Rate Adjustment Date. Every payment received with respect hereto shall be applied, in any order that may be determined by Lender in its
sole discretion, to sums under this Note, including, without limitation: (a) late charges; (b) expenses paid or funds advanced by Lender with interest thereon at the Default Rate when applicable (as hereinafter defined); (c) any
prepayment fees due with respect to any payment and any other fees which may remain unpaid; (d) accrued interest on the principal balance from time to time remaining unpaid; and (e) subject to the prepayment provisions herein, the
principal balance hereunder. 
 2. Interest. The interest rate applicable to this Note will change on the applicable Rate
Adjustment Dates. Interest shall be calculated on the basis of a 360-day year consisting of twelve 30-day months, except that interest due and payable for a period of less than a full month and/or any prepayment shall be calculated on an actual
accrual method. The initial interest rate included in the aforesaid payments, unless adjusted as otherwise provided in this Note, shall be calculated at the rate of Four and Seven-Eighths percent (4.875%) per annum (“Note
Rate”) upon the unpaid balance of principal of this Note. Borrower, jointly and severally, also promises 

  
 Page 1

 
to pay interest at the Note Rate from the date of disbursement of the Loan proceeds evidenced by this Note (“Disbursement Date”) to the date from which interest is included in the first
payment previously described. As used herein, “Rate Adjustment Date(s)” shall be as follows: 
  

	 	•	 	 59 months from the First Payment Date; 

  

	 	•	 	 119 months from the First Payment Date; 

  

	 	(a)	One hundred and twenty (120) days prior to each Rate Adjustment Date, Lender will notify Borrower in writing of the Adjusted Interest Rate that will become
effective in accordance with this Note. The “Adjusted Interest Rate” will be Lender’s then prevailing annual interest rate for similar loans then being originated by Lender with a similar term (equal to the period between the Rate
Adjustment Date and the earlier of the next Rate Adjustment Date or the Maturity Date) then being originated by Lender on properties comparable to the Property (as herein defined) as determined solely by Lender. 

 

	 	(a)	Borrower shall have thirty (30) days from the date of receipt of such notification from Lender to accept or reject the Adjusted Interest Rate. Failure by Borrower
to notify Lender of the acceptance or rejection of the Adjusted Interest Rate within such thirty (30) day period shall be deemed to be a rejection of the Adjusted Interest Rate. If the Adjusted Interest Rate is rejected by Borrower (or deemed
rejected), the entire unpaid principal balance of this Note, all accrued unpaid interest hereon, and any other amounts payable hereunder or under the other Loan Documents (as hereinafter defined) shall be due and payable in full, without a
Prepayment Fee, no later than the Rate Adjustment Date. 

  

	 	(b)	If Borrower accepts the Adjusted Interest Rate for the offered period, the Adjusted Interest Rate shall become effective on the Rate Adjustment Date and monthly
installments of principal and interest shall then be due and payable in an amount to be determined that will amortize the remaining unpaid principal balance of this Note at the Adjusted Interest Rate over the remaining amortization period. In such
case, Borrower shall also have the option to prepay a portion of the remaining unpaid principal balance of this Note as described in paragraph 3(e) below. 

  

	 	(c)	Thereafter, monthly installments of principal and interest on the unpaid principal balance of this Note, at the Adjusted Interest Rate, in the amount thus calculated,
shall be due and payable in consecutive monthly installments commencing on the first day of the calendar month after the Rate Adjustment Date and continuing on the first day of each calendar month thereafter, to and including the monthly installment
of principal and interest due and payable on the earlier of the next Rate Adjustment Date or the Maturity Date. 

3. Prepayment Restrictions; Fees. Borrower shall have the right to prepay, in full but not in part, the obligation
evidenced by this Note upon giving Lender (i) not less than thirty 

  
 Page 2

 
(30) days’ prior written notice of (a) Borrower’s intention to so prepay this Note, and (b) the date upon which such prepayment will be received by Lender (“Prepayment
Date”), and (ii) payment to Lender of the Prepayment Fee (as hereinafter defined), if any, then due to Lender as hereinafter provided. 
  

	 	(a)	As used herein, the term “Prepayment Fee” shall mean an amount which is the greater of 

 

	 	(i)	one percent (1%) of the outstanding principal balance of this Note at the time of prepayment, or 

 

	 	(ii)	the sum of 

  

	 	(A)	the Present Value (as hereinafter defined) of the scheduled monthly payments due under this Note from the Prepayment Date to the earlier of the next Rate Adjustment
Date or the Maturity Date. 

  

	 	(B)	the Present Value of the amount of principal and interest due under this Note on the earlier of the next Rate Adjustment Date or the Maturity Date (assuming all
scheduled monthly payments due prior to such dates were made when due), minus 

  

	 	(C)	the outstanding principal balance of this Note as of the Prepayment Date. 

 The “Present Values” described in (A) and (B) shall be computed on a monthly basis as of the Prepayment Date discounted at a rate equal to the yield-to-maturity of the U.S. Treasury
Note or Bond closest in maturity to the earlier of the next Rate Adjustment Date or the Maturity Date as reported in The Wall Street Journal (or, if The Wall Street Journal is no longer published, as reported in such other daily financial
publication of national circulation which shall be designated by Lender) on the fifth business day preceding the Prepayment Date. Borrower shall be obligated to prepay this Note on the Prepayment Date set forth in the written notice to Lender
required hereinabove, after such notice has been delivered to Lender. 
  

	 	(b)	Notwithstanding the foregoing or any other provision herein to the contrary, if Lender elects to apply insurance proceeds, condemnation awards, or any escrowed amounts,
if applicable, to the reduction of the outstanding principal balance of this Note in the manner provided in the Deed of Trust, no Prepayment Fee shall be due or payable as a result of such application and the monthly installments due and payable
hereunder shall be reduced accordingly. 

  
 Page 3

	 	(c)	In the event the Maturity Date is accelerated by Lender at any time due to a default by Borrower in the payment of principal and/or interest due under this Note or in
the performance of the terms, covenants or conditions contained in this Note, the Deed of Trust or any of the other Loan Documents (as hereinafter defined), then a tender of payment in an amount necessary to satisfy the entire outstanding principal
balance of this Note together with all accrued unpaid interest hereon made by Borrower, or by anyone on behalf of Borrower, at any time prior to, at, or as a result of, a foreclosure sale or sale pursuant to power of sale, shall constitute a
voluntary prepayment hereunder prior to the contracted Maturity Date of this Note thus requiring the payment to Lender of a Prepayment Fee equal to the applicable Prepayment Fee as set forth in paragraph (a) above; provided, however, that in
the event such Prepayment Fee is construed to be interest under the laws of the State of Oregon in any circumstance, such payment shall not be required to the extent that the amount thereof, together with other interest payable hereunder, exceeds
the maximum rate of interest that may be lawfully charged under applicable law. 

  

	 	(d)	Notwithstanding anything contained herein to the contrary, during the ninety (90) day period immediately preceding the Maturity Date of this Note, the entire
outstanding principal balance and all accrued unpaid interest on this Note may be prepaid in whole, but not in part, at par, without incurring a Prepayment Fee. 

 

	 	(e)	Notwithstanding anything contained herein to the contrary, if Borrower accepts the Adjusted Interest Rate as provided in paragraph 2 above, Borrower shall have the
right to prepay a portion of the unpaid principal balance of this Note prior to the Rate Adjustment Date, without a Prepayment Fee, provided the remaining principal balance of this Note after the prepayment may not be less than $150,000.00. Any
partial prepayment must be received by Lender no less than thirty (30) days prior to the Rate Adjustment Date. Any partial prepayment will be applied to pay down the principal balance of this Note upon Lender’s receipt of such prepayment.
The then remaining principal balance of this Note will then be used to calculate the new monthly payment amount as described in paragraph 2(d) above. 

 4. Waiver. To the extent permitted by law, each and every Borrower, surety, guarantor, endorser or signator to this Note and any other party now or hereafter liable for the payment of this Note, in
whatever capacity, whether in whole or in part hereby (a) waives notice of intent to demand, presentment for payment, notice of demand, demand, notice of nonpayment, protest, notice of protest, notice of dishonor, notice of intent to
accelerate, notice of acceleration, and all other notices, filing of suit, and diligence in collecting this Note and/or enforcing any of the security herefor; (b) agrees that Lender shall not be required first to institute suit or exhaust its
remedies against Borrower or others liable or to become liable hereon or against the Property (as hereinafter defined), it being understood that Lender may exercise its rights hereunder and pursue its remedies in any order and at any time it
desires, and may do so, without notice to or consent of any such person, and without in any way diminishing the obligations of any such 

  
 Page 4

 
person; (c) consents to Lender dealing with any such person with reference to this Note by way of forbearance, extension, modification, compromise or otherwise; (d) consents and agrees
to any and all extensions, releases, renewals, partial payments, surrenders, exchanges, substitutions of security herefor, compromises, discharges or modifications and any other indulgence with respect to any right or obligation secured by or
provided by the Deed of Trust, Mortgage, or Deed to Secure Debt, as the case may be, securing this Note (“Deed of Trust”) or any other instrument securing this Note, before or after the maturity of this Note, without notice thereof to any
of them; or (e) consents and agrees that Lender may take any other action which Lender may deem reasonably appropriate to protect its security interest in the property securing this Note (“Property”). Any such action(s) taken under
the preceding sentence may be taken against one, all, or some of such persons, and Lender may take any such action against one differently than another of such persons, in Lender’s sole discretion. 

5. Default; Default Rate. Time is material and of the essence hereof with respect to the payment of any sums of any nature by and
the performance of all duties or obligations of the Borrower. Each of the following shall be an Event of Default under this Note: (a) failure to make any payment of principal and/or interest or any other payment required by the provisions of
this Note or of any instrument securing this Note on the date such payment or payments are due; (b) failure to perform any other provision of this Note or of any instrument securing this Note; (c) falsity in any material respect of the
warranties in the Deed of Trust or of any representation, warranty or information furnished by Borrower or its agents to Lender in connection with the loan evidenced by this Note (“Loan”); or (d) failure to pay or perform under any
Other Loan Documents (as described and defined in the Deed of Trust). Upon the occurrence of any Event of Default, any sum not paid as provided in this Note or in any instrument securing this Note, shall, at the option of Lender, without notice,
bear interest from such due date at a rate of interest (“Default Rate”) equal to four (4) percentage points per annum greater than the Note Rate, or the maximum rate of interest permitted by law, whichever is the lesser, and, at the
option of Lender, the unpaid balance of principal, accrued interest, plus any other sums due under this Note, or under any instrument securing this Note shall at once become due and payable, without notice except as described in paragraph 12, and
shall bear interest at the Default Rate. If an Event of Default occurs during a period of time in which prepayment is permitted only on payment of a prepayment fee, such fee shall be computed as if the sum declared due on default were a prepayment
and shall be added to the sums due and payable hereunder. 
 6. Late Charges. If any payment is not received by Lender
(or by the correspondent if a correspondent has been designated by Lender to receive payments) within five (5) calendar days after its due date, Lender, at its option, may assess a late charge equal to five cents for each $1.00 of each overdue
payment or the maximum late charge permitted by the laws of the state in which the Property is located, whichever is less. Such late charge shall be due and payable on demand, and Lender, at its option, may (a) refuse to accept any late payment
or any subsequent payment unless accompanied by such late charge, (b) add such late charge to the principal balance of this Note or (c) treat the failure to pay such late charge as demanded as an Event of Default hereunder. If such late
charge is added to the principal balance of this Note, it 

  
 Page 5

 
shall bear interest at the Default Rate. The late charge is compensation for damages suffered by Lender and does not constitute interest. 

7. Acknowledgments Regarding Default Rate, Late Charges and Prepayment Charges. 

 

	 	(a)	Borrower acknowledges and agrees that (i) a default in making the payments herein agreed to be paid when due will result in the Lender incurring additional expense
in servicing the Loan, loss to Lender of the use of the money due, and frustration to Lender in meeting its other commitments, (ii) if for any reason it fails to pay any amounts due hereunder, Lender shall be entitled to damages for the
detriment caused thereby, but that it is extremely difficult and impractical to ascertain the extent of such damages, and (iii) the Default Rate and the late charge described in this Note are a reasonable estimate of such damages.

  

	 	(b)	Borrower acknowledges and agrees that (i) prepayment prior to the maturity date may result in loss to Lender, (ii) the amount of the loss will depend on the
interest rates at the time of prepayment, the amount of principal prepaid and the length of time remaining between the prepayment date and the scheduled maturity date, (iii) prepayment is most likely to occur when interest rates have dropped
below the Note Rate, and (iv) because it is extremely difficult and impractical to ascertain now the amount of loss Lender may suffer in the event of prepayment, (A) Lender shall be entitled to damages for the loss caused by prepayment and
(B) the prepayment fee described in this Note is a reasonable measure of such damages. Borrower agrees that the prepayment fee described in this Note shall be imposed, to the extent permitted by law, whether the prepayment is voluntary,
involuntary or by operation of law, in connection with an Event of Default, or required by Lender in connection with a transfer or contract to transfer the Property, provided that no prepayment fee shall be added to sums prepaid with casualty
insurance proceeds or condemnation awards. 

  

	 	(c)	Borrower expressly (i) waives any right to prepay the Loan without payment of the prepayment fee described above in connection with a transfer or contract to
transfer the Property by Borrower, or a successor in interest of the undersigned, and (ii) agrees to pay such prepayment fee as provided above in connection with such a transfer or contract to transfer. 

 

	 	(d)	Borrower represents that it is a knowledgeable real estate investor and fully understands the effect of the fees, charges, waivers and agreements contained above.
Borrower acknowledges and agrees that the making of the Loan by Lender at the interest rate and with the other terms described herein is sufficient consideration for such fees, charges, waiver and agreement, and that Lender would not make this Loan
on these terms without such fees, charges, waiver and agreement. 

  
 Page 6

 8. Expenses and Attorney Fees. If Lender refers this Note to an attorney for
collection or seeks legal advice following a default alleged in good faith under this Note; if Lender is the prevailing party in any litigation instituted in connection with this Note; or if Lender or any other person initiates any judicial or
nonjudicial action, suit or proceeding, including but not limited to a foreclosure sale, in connection with this Note or the security therefor, and an attorney is employed by Lender to (a) appear in any such action, suit or proceeding,
(b) reclaim, seek relief from a judicial or statutory stay, sequester, protect, preserve or enforce Lender’s interest in this Note, the Deed of Trust, or any other security for this Note (including but not limited to proceedings at
appellate levels, under federal bankruptcy law, in eminent domain, under probate proceedings, or in connection with any state or federal tax lien), or (c) assist Lender in any foreclosure sale, then, in any such event, Borrower shall pay
attorney’s fees and costs and expenses incurred by Lender and/or its attorney in connection with the above-mentioned events and any appeals or discretionary reviews related to such events, including but not limited to costs incurred in
searching records, the cost of title reports, the cost of appraisals, and the cost of surveyors’ reports. If not paid within ten days after such fees, costs and expenses become due and written demand for payment is made upon Borrower, such
amount may, at Lender’s option, be added to the principal of this Note and shall bear interest at the Default Rate. 
 9.
No Usury. In no event shall any payment of interest or any other sum payable hereunder both (a) violate the usury laws of the state in which the Property is located and (b) allow Borrower to bring a claim for usury or raise usury as
a defense in any action on this Note. If it is established that both (a) and (b) have occurred, and any payment exceeding lawful limits has been received, Lender shall refund such excess or, at its option, credit the excess amount to
principal, but such payments shall not affect the obligation to make periodic payments required herein. 
 10. Security.
The indebtedness evidenced by this Note is secured by the Deed of Trust, Mortgage, or Deed to Secure Debt, as applicable (“Deed of Trust”), of even date and may be secured by other security instruments. 

11. Due on Sale or Encumbrance. As provided in the Deed of Trust securing this Note, and subject to any exceptions provided
therein, transfers or encumbrances of the Property, or of ownership interests in Borrower, cause all sums evidenced by this Note and/or secured by the Deed of Trust or by any other Loan Document to become immediately due and payable. By signing this
Note, Borrower acknowledges that Borrower has received and reviewed a copy of the Deed of Trust and is familiar with the provisions restricting the transfer of the Property and the ownership interests therein and assumptions of the Loan. 

12. Notice and Opportunity to Cure. Notwithstanding any other provision of this Note, Lender shall not accelerate the sums
evidenced hereby because of a nonmonetary default (defined below) by Borrower unless Borrower fails to cure the default within fifteen (15) days of the earlier of the date on which Lender mails or delivers written notice of the default to
Borrower. For purposes of this Note, the term “nonmonetary default” means a failure by Borrower or any other person or entity to perform any obligation contained in this Note or any other document or instrument evidencing or securing the
Loan (collectively, “Loan 

  
 Page 7

 
Documents”), other than the obligation to make payments provided for in this Note or any other Loan Document. If a nonmonetary default is capable of being cured and the cure cannot
reasonably be completed within the fifteen (15) day cure period, the cure period shall be extended up to sixty (60) days so long as Borrower has commenced action to cure within the fifteen (15) day cure period, and in Lender’s
opinion, Borrower is proceeding to cure the default with due diligence. No notice of default and no opportunity to cure shall be required if during any 12-month period Lender has already sent a notice to Borrower concerning default in the
performance of the same obligation. None of the foregoing shall be construed to obligate Lender to forebear in any other manner from exercising its remedies and Lender may pursue any other rights or remedies which Lender may have because of a
default. 
 13. Commercial Purpose. The obligation evidenced by this Note is exclusively for commercial or business
purposes. 
 14. Notices. All notices required or permitted under this Note shall be in writing and may be
telecopies, cabled, delivered by hand, or mailed by first class registered or certified mail, return receipt requested, postage prepaid, and addressed as follows: 
 If to Lender: 
 STANDARD INSURANCE COMPANY 

c/o StanCorp Mortgage Investors, LLC 
 Attn: Mortgage Loan Servicing T3A 
 19225 NW Tanasbourne Drive

 Hillsboro, OR 97124 
 If to Borrower: 
 VITRAN MARYLAND, LLC 

Attn: Chris Keylon 
 P.O. Box 1290 (for U.S.P.S. mail delivery) 
 2850 Kramer Road (for
courier or other delivery) 
 Gibsonia, PA 15044 

Changes in the respective addresses to which such notices shall be directed may be from time to time by either party by notice to the
other party given at least ten (10) days before such change of address is to become effective. Notices given by mail in accordance with this provision shall be deemed to have been given three (3) days after the date of dispatch; notices
given by any other means shall be deemed to have been given when received. 
 15. Choice of Law, Jurisdiction and Venue;
Enforceability; Severability. Except for matters relating to the validity and/or enforcement of the security interest of Lender in the Property, which shall be determined in accordance with the applicable laws of the state in which the affected
Property is situated, the law of the state of Oregon shall govern the validity, interpretation, construction, performance and enforcement of this Note and any and all other 

  
 Page 8

 
Loan Documents. If, for any reason or to any extent any word, term, provision, or clause of this Note or any of the other Loan Documents, or its application to any person or situation, shall be
found by a court or other adjudicating authority to be invalid or unenforceable, the remaining words, terms, provisions, or clauses shall be enforced, and the affected work, term, clause, or provision shall be applied, to the fullest extent
permitted by law. Borrower irrevocably submits to the jurisdiction of Multnomah County state or Portland, Oregon federal court in any action or proceeding brought to enforce or otherwise arising out of or relating to this Note or any of the
other Loan Documents, and waives any claim that such forum is inappropriate and/or an inconvenient forum. 
 16. Successors
and Assigns. Whenever used herein, the words “undersigned”, “Borrower” and “Lender” shall be deemed to include their respective heirs, devisees, executors, administrators, personal representatives, successors and
assigns. 
 NOTICES TO BORROWER 
 DO NOT SIGN THIS NOTE BEFORE YOU READ IT. THIS NOTE PROVIDES FOR THE PAYMENT OF A FEE IF THIS NOTE IS PREPAID PRIOR TO THE DATE PROVIDED FOR REPAYMENT IN THIS NOTE AND OTHER CHARGES IF PAYMENTS ARE
LATE. IF YOU HAVE ANY QUESTIONS ABOUT THIS NOTE, YOU SHOULD CONSULT YOUR ATTORNEY. 
 ORS 41.580 Disclosure. UNDER OREGON
LAW, MOST AGREEMENTS, PROMISES AND COMMITMENTS BY LENDER, CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES, OR SECURED SOLELY BY THE BORROWER’S RESIDENCE MUST BE IN WRITING, EXPRESS
CONSIDERATION AND BE SIGNED BY AN AUTHORIZED REPRESENTATIVE OF LENDER TO BE ENFORCEABLE. 
 BORROWER: 

VITRAN MARYLAND, LLC, 
 a Delaware
limited liability company 
  

			
	By:	 	 /s/ CHRIS KEYLON

		 	CHRIS KEYLON
		 	Its: Authorized Manager

  
 Page 9

 SIC Loan No. B2110719 

NOTE 
  

			
	$1,240,000.00	  	January 15, 2013

 FOR VALUE RECEIVED, the undersigned, VITRAN MICHIGAN, LLC, a Delaware limited liability company
(“Borrower”), promises to pay in lawful money of the United States, to the order of STANDARD INSURANCE COMPANY, an Oregon corporation (together with any assigns, collectively, “Lender”), at its office in Hillsboro, Oregon,
or such other place as Lender may designate, the principal amount of a loan (“Loan”) of One Million Two Hundred Forty Thousand and No/100ths Dollars ($1,240,000.00), together with interest thereon, on the following
agreements, terms and conditions. 
 1. Payments. Borrower shall make monthly payments of principal and interest to
Lender, in amounts sufficient to fully amortize the principal balance of this Note over a fifteen (15) year amortization period in substantially equal monthly payments. Such monthly payments of principal and interest shall be in the initial
amount of Nine Thousand Seven Hundred Twenty-Six and No/100ths Dollars ($9,726.00) payable on the first day of each month, commencing with the first day of March, 2013, together with such other sums as may
become due hereunder or under any instrument securing this Note, until the entire indebtedness is fully paid, except that any remaining indebtedness if not sooner paid shall be finally due and payable on the first day of February,
2028, which is the maturity date of this Note (“Maturity Date”). The monthly payment amount will change after each Rate Adjustment Date (as defined in Paragraph 2) to an amount sufficient to repay the then unpaid principal balance of
this Note in full at the then current interest rate, in substantially equal monthly payments over the balance of the amortization period specified above. If applicable, until the payment is again changed, Borrower shall pay the new monthly payment
each month beginning on the first day of the first calendar month after the applicable Rate Adjustment Date. Lender will mail or deliver to Borrower a notice of any changes in the interest rate applicable to this Note, and any resulting changes in
the monthly payments required under this Note, prior to the date the first payment is due after the applicable Rate Adjustment Date. Every payment received with respect hereto shall be applied, in any order that may be determined by Lender in its
sole discretion, to sums under this Note, including, without limitation: (a) late charges; (b) expenses paid or funds advanced by Lender with interest thereon at the Default Rate when applicable (as hereinafter defined); (c) any
prepayment fees due with respect to any payment and any other fees which may remain unpaid; (d) accrued interest on the principal balance from time to time remaining unpaid; and (e) subject to the prepayment provisions herein, the
principal balance hereunder. 
 2. Interest. The interest rate applicable to this Note will change on the applicable Rate
Adjustment Dates. Interest shall be calculated on the basis of a 360-day year consisting of twelve 30-day months, except that interest due and payable for a period of less than a full month and/or any prepayment shall be calculated on an actual
accrual method. The initial interest rate included in the aforesaid payments, unless adjusted as otherwise provided in this Note, shall be calculated at the rate of Four and Seven-Eighths percent (4.875%) per annum (“Note
Rate”) upon the unpaid balance of principal of this Note. Borrower, jointly and severally, also promises 

  
 Page 1

 
to pay interest at the Note Rate from the date of disbursement of the Loan proceeds evidenced by this Note (“Disbursement Date”) to the date from which interest is included in the first
payment previously described. As used herein, “Rate Adjustment Date(s)” shall be as follows: 
  

	 	•	 	 59 months from the First Payment Date; 

  

	 	•	 	 119 months from the First Payment Date; 

  

	 	(a)	One hundred and twenty (120) days prior to each Rate Adjustment Date, Lender will notify Borrower in writing of the Adjusted Interest Rate that will become
effective in accordance with this Note. The “Adjusted Interest Rate” will be Lender’s then prevailing annual interest rate for similar loans then being originated by Lender with a similar term (equal to the period between the Rate
Adjustment Date and the earlier of the next Rate Adjustment Date or the Maturity Date) then being originated by Lender on properties comparable to the Property (as herein defined) as determined solely by Lender. 

 

	 	(a)	Borrower shall have thirty (30) days from the date of receipt of such notification from Lender to accept or reject the Adjusted Interest Rate. Failure by Borrower
to notify Lender of the acceptance or rejection of the Adjusted Interest Rate within such thirty (30) day period shall be deemed to be a rejection of the Adjusted Interest Rate. If the Adjusted Interest Rate is rejected by Borrower (or deemed
rejected), the entire unpaid principal balance of this Note, all accrued unpaid interest hereon, and any other amounts payable hereunder or under the other Loan Documents (as hereinafter defined) shall be due and payable in full, without a
Prepayment Fee, no later than the Rate Adjustment Date. 

  

	 	(b)	If Borrower accepts the Adjusted Interest Rate for the offered period, the Adjusted Interest Rate shall become effective on the Rate Adjustment Date and monthly
installments of principal and interest shall then be due and payable in an amount to be determined that will amortize the remaining unpaid principal balance of this Note at the Adjusted Interest Rate over the remaining amortization period. In such
case, Borrower shall also have the option to prepay a portion of the remaining unpaid principal balance of this Note as described in paragraph 3(e) below. 

  

	 	(c)	Thereafter, monthly installments of principal and interest on the unpaid principal balance of this Note, at the Adjusted Interest Rate, in the amount thus calculated,
shall be due and payable in consecutive monthly installments commencing on the first day of the calendar month after the Rate Adjustment Date and continuing on the first day of each calendar month thereafter, to and including the monthly installment
of principal and interest due and payable on the earlier of the next Rate Adjustment Date or the Maturity Date. 

3. Prepayment Restrictions; Fees. Borrower shall have the right to prepay, in full but not in part, the obligation
evidenced by this Note upon giving Lender (i) not less than thirty 

  
 Page 2

 
(30) days’ prior written notice of (a) Borrower’s intention to so prepay this Note, and (b) the date upon which such prepayment will be received by Lender (“Prepayment
Date”), and (ii) payment to Lender of the Prepayment Fee (as hereinafter defined), if any, then due to Lender as hereinafter provided. 
  

	 	(a)	As used herein, the term “Prepayment Fee” shall mean an amount which is the greater of 

 

	 	(i)	one percent (1%) of the outstanding principal balance of this Note at the time of prepayment, or 

 

	 	(ii)	the sum of 

  

	 	(A)	the Present Value (as hereinafter defined) of the scheduled monthly payments due under this Note from the Prepayment Date to the earlier of the next Rate Adjustment
Date or the Maturity Date. 

  

	 	(B)	the Present Value of the amount of principal and interest due under this Note on the earlier of the next Rate Adjustment Date or the Maturity Date (assuming all
scheduled monthly payments due prior to such dates were made when due), minus 

  

	 	(C)	the outstanding principal balance of this Note as of the Prepayment Date. 

 The “Present Values” described in (A) and (B) shall be computed on a monthly basis as of the Prepayment Date discounted at a rate equal to the yield-to-maturity of the U.S. Treasury
Note or Bond closest in maturity to the earlier of the next Rate Adjustment Date or the Maturity Date as reported in The Wall Street Journal (or, if The Wall Street Journal is no longer published, as reported in such other daily financial
publication of national circulation which shall be designated by Lender) on the fifth business day preceding the Prepayment Date. Borrower shall be obligated to prepay this Note on the Prepayment Date set forth in the written notice to Lender
required hereinabove, after such notice has been delivered to Lender. 
  

	 	(b)	Notwithstanding the foregoing or any other provision herein to the contrary, if Lender elects to apply insurance proceeds, condemnation awards, or any escrowed amounts,
if applicable, to the reduction of the outstanding principal balance of this Note in the manner provided in the Deed of Trust, no Prepayment Fee shall be due or payable as a result of such application and the monthly installments due and payable
hereunder shall be reduced accordingly. 

  
 Page 3

	 	(c)	In the event the Maturity Date is accelerated by Lender at any time due to a default by Borrower in the payment of principal and/or interest due under this Note or in
the performance of the terms, covenants or conditions contained in this Note, the Deed of Trust or any of the other Loan Documents (as hereinafter defined), then a tender of payment in an amount necessary to satisfy the entire outstanding principal
balance of this Note together with all accrued unpaid interest hereon made by Borrower, or by anyone on behalf of Borrower, at any time prior to, at, or as a result of, a foreclosure sale or sale pursuant to power of sale, shall constitute a
voluntary prepayment hereunder prior to the contracted Maturity Date of this Note thus requiring the payment to Lender of a Prepayment Fee equal to the applicable Prepayment Fee as set forth in paragraph (a) above; provided, however, that in
the event such Prepayment Fee is construed to be interest under the laws of the State of Oregon in any circumstance, such payment shall not be required to the extent that the amount thereof, together with other interest payable hereunder, exceeds
the maximum rate of interest that may be lawfully charged under applicable law. 

  

	 	(d)	Notwithstanding anything contained herein to the contrary, during the ninety (90) day period immediately preceding the Maturity Date of this Note, the entire
outstanding principal balance and all accrued unpaid interest on this Note may be prepaid in whole, but not in part, at par, without incurring a Prepayment Fee. 

 

	 	(e)	Notwithstanding anything contained herein to the contrary, if Borrower accepts the Adjusted Interest Rate as provided in paragraph 2 above, Borrower shall have the
right to prepay a portion of the unpaid principal balance of this Note prior to the Rate Adjustment Date, without a Prepayment Fee, provided the remaining principal balance of this Note after the prepayment may not be less than $150,000.00. Any
partial prepayment must be received by Lender no less than thirty (30) days prior to the Rate Adjustment Date. Any partial prepayment will be applied to pay down the principal balance of this Note upon Lender’s receipt of such prepayment.
The then remaining principal balance of this Note will then be used to calculate the new monthly payment amount as described in paragraph 2(d) above. 

 4. Waiver. To the extent permitted by law, each and every Borrower, surety, guarantor, endorser or signator to this Note and any other party now or hereafter liable for the payment of this Note, in
whatever capacity, whether in whole or in part hereby (a) waives notice of intent to demand, presentment for payment, notice of demand, demand, notice of nonpayment, protest, notice of protest, notice of dishonor, notice of intent to
accelerate, notice of acceleration, and all other notices, filing of suit, and diligence in collecting this Note and/or enforcing any of the security herefor; (b) agrees that Lender shall not be required first to institute suit or exhaust its
remedies against Borrower or others liable or to become liable hereon or against the Property (as hereinafter defined), it being understood that Lender may exercise its rights hereunder and pursue its remedies in any order and at any time it
desires, and may do so, without notice to or consent of any such person, and without in any way diminishing the obligations of any such 

  
 Page 4

 
person; (c) consents to Lender dealing with any such person with reference to this Note by way of forbearance, extension, modification, compromise or otherwise; (d) consents and agrees
to any and all extensions, releases, renewals, partial payments, surrenders, exchanges, substitutions of security herefor, compromises, discharges or modifications and any other indulgence with respect to any right or obligation secured by or
provided by the Deed of Trust, Mortgage, or Deed to Secure Debt, as the case may be, securing this Note (“Deed of Trust”) or any other instrument securing this Note, before or after the maturity of this Note, without notice thereof to any
of them; or (e) consents and agrees that Lender may take any other action which Lender may deem reasonably appropriate to protect its security interest in the property securing this Note (“Property”). Any such action(s) taken under
the preceding sentence may be taken against one, all, or some of such persons, and Lender may take any such action against one differently than another of such persons, in Lender’s sole discretion. 

5. Default; Default Rate. Time is material and of the essence hereof with respect to the payment of any sums of any nature by and
the performance of all duties or obligations of the Borrower. Each of the following shall be an Event of Default under this Note: (a) failure to make any payment of principal and/or interest or any other payment required by the provisions of
this Note or of any instrument securing this Note on the date such payment or payments are due; (b) failure to perform any other provision of this Note or of any instrument securing this Note; (c) falsity in any material respect of the
warranties in the Deed of Trust or of any representation, warranty or information furnished by Borrower or its agents to Lender in connection with the loan evidenced by this Note (“Loan”); or (d) failure to pay or perform under any
Other Loan Documents (as described and defined in the Deed of Trust). Upon the occurrence of any Event of Default, any sum not paid as provided in this Note or in any instrument securing this Note, shall, at the option of Lender, without notice,
bear interest from such due date at a rate of interest (“Default Rate”) equal to four (4) percentage points per annum greater than the Note Rate, or the maximum rate of interest permitted by law, whichever is the lesser, and, at the
option of Lender, the unpaid balance of principal, accrued interest, plus any other sums due under this Note, or under any instrument securing this Note shall at once become due and payable, without notice except as described in paragraph 12, and
shall bear interest at the Default Rate. If an Event of Default occurs during a period of time in which prepayment is permitted only on payment of a prepayment fee, such fee shall be computed as if the sum declared due on default were a prepayment
and shall be added to the sums due and payable hereunder. 
 6. Late Charges. If any payment is not received by Lender
(or by the correspondent if a correspondent has been designated by Lender to receive payments) within five (5) calendar days after its due date, Lender, at its option, may assess a late charge equal to five cents for each $1.00 of each overdue
payment or the maximum late charge permitted by the laws of the state in which the Property is located, whichever is less. Such late charge shall be due and payable on demand, and Lender, at its option, may (a) refuse to accept any late payment
or any subsequent payment unless accompanied by such late charge, (b) add such late charge to the principal balance of this Note or (c) treat the failure to pay such late charge as demanded as an Event of Default hereunder. If such late
charge is added to the principal balance of this Note, it 

  
 Page 5

 
shall bear interest at the Default Rate. The late charge is compensation for damages suffered by Lender and does not constitute interest. 

7. Acknowledgments Regarding Default Rate, Late Charges and Prepayment Charges. 

 

	 	(a)	Borrower acknowledges and agrees that (i) a default in making the payments herein agreed to be paid when due will result in the Lender incurring additional expense
in servicing the Loan, loss to Lender of the use of the money due, and frustration to Lender in meeting its other commitments, (ii) if for any reason it fails to pay any amounts due hereunder, Lender shall be entitled to damages for the
detriment caused thereby, but that it is extremely difficult and impractical to ascertain the extent of such damages, and (iii) the Default Rate and the late charge described in this Note are a reasonable estimate of such damages.

  

	 	(b)	Borrower acknowledges and agrees that (i) prepayment prior to the maturity date may result in loss to Lender, (ii) the amount of the loss will depend on the
interest rates at the time of prepayment, the amount of principal prepaid and the length of time remaining between the prepayment date and the scheduled maturity date, (iii) prepayment is most likely to occur when interest rates have dropped
below the Note Rate, and (iv) because it is extremely difficult and impractical to ascertain now the amount of loss Lender may suffer in the event of prepayment, (A) Lender shall be entitled to damages for the loss caused by prepayment and
(B) the prepayment fee described in this Note is a reasonable measure of such damages. Borrower agrees that the prepayment fee described in this Note shall be imposed, to the extent permitted by law, whether the prepayment is voluntary,
involuntary or by operation of law, in connection with an Event of Default, or required by Lender in connection with a transfer or contract to transfer the Property, provided that no prepayment fee shall be added to sums prepaid with casualty
insurance proceeds or condemnation awards. 

  

	 	(c)	Borrower expressly (i) waives any right to prepay the Loan without payment of the prepayment fee described above in connection with a transfer or contract to
transfer the Property by Borrower, or a successor in interest of the undersigned, and (ii) agrees to pay such prepayment fee as provided above in connection with such a transfer or contract to transfer. 

 

	 	(d)	Borrower represents that it is a knowledgeable real estate investor and fully understands the effect of the fees, charges, waivers and agreements contained above.
Borrower acknowledges and agrees that the making of the Loan by Lender at the interest rate and with the other terms described herein is sufficient consideration for such fees, charges, waiver and agreement, and that Lender would not make this Loan
on these terms without such fees, charges, waiver and agreement. 

  
 Page 6

 8. Expenses and Attorney Fees. If Lender refers this Note to an attorney for
collection or seeks legal advice following a default alleged in good faith under this Note; if Lender is the prevailing party in any litigation instituted in connection with this Note; or if Lender or any other person initiates any judicial or
nonjudicial action, suit or proceeding, including but not limited to a foreclosure sale, in connection with this Note or the security therefor, and an attorney is employed by Lender to (a) appear in any such action, suit or proceeding,
(b) reclaim, seek relief from a judicial or statutory stay, sequester, protect, preserve or enforce Lender’s interest in this Note, the Deed of Trust, or any other security for this Note (including but not limited to proceedings at
appellate levels, under federal bankruptcy law, in eminent domain, under probate proceedings, or in connection with any state or federal tax lien), or (c) assist Lender in any foreclosure sale, then, in any such event, Borrower shall pay
attorney’s fees and costs and expenses incurred by Lender and/or its attorney in connection with the above-mentioned events and any appeals or discretionary reviews related to such events, including but not limited to costs incurred in
searching records, the cost of title reports, the cost of appraisals, and the cost of surveyors’ reports. If not paid within ten days after such fees, costs and expenses become due and written demand for payment is made upon Borrower, such
amount may, at Lender’s option, be added to the principal of this Note and shall bear interest at the Default Rate. 
 9.
No Usury. In no event shall any payment of interest or any other sum payable hereunder both (a) violate the usury laws of the state in which the Property is located and (b) allow Borrower to bring a claim for usury or raise usury as
a defense in any action on this Note. If it is established that both (a) and (b) have occurred, and any payment exceeding lawful limits has been received, Lender shall refund such excess or, at its option, credit the excess amount to
principal, but such payments shall not affect the obligation to make periodic payments required herein. 
 10. Security.
The indebtedness evidenced by this Note is secured by the Deed of Trust, Mortgage, or Deed to Secure Debt, as applicable (“Deed of Trust”), of even date and may be secured by other security instruments. 

11. Due on Sale or Encumbrance. As provided in the Deed of Trust securing this Note, and subject to any exceptions provided
therein, transfers or encumbrances of the Property, or of ownership interests in Borrower, cause all sums evidenced by this Note and/or secured by the Deed of Trust or by any other Loan Document to become immediately due and payable. By signing this
Note, Borrower acknowledges that Borrower has received and reviewed a copy of the Deed of Trust and is familiar with the provisions restricting the transfer of the Property and the ownership interests therein and assumptions of the Loan. 

12. Notice and Opportunity to Cure. Notwithstanding any other provision of this Note, Lender shall not accelerate the sums
evidenced hereby because of a nonmonetary default (defined below) by Borrower unless Borrower fails to cure the default within fifteen (15) days of the earlier of the date on which Lender mails or delivers written notice of the default to
Borrower. For purposes of this Note, the term “nonmonetary default” means a failure by Borrower or any other person or entity to perform any obligation contained in this Note or any other document or instrument evidencing or securing the
Loan (collectively, “Loan 

  
 Page 7

 
Documents”), other than the obligation to make payments provided for in this Note or any other Loan Document. If a nonmonetary default is capable of being cured and the cure cannot
reasonably be completed within the fifteen (15) day cure period, the cure period shall be extended up to sixty (60) days so long as Borrower has commenced action to cure within the fifteen (15) day cure period, and in Lender’s
opinion, Borrower is proceeding to cure the default with due diligence. No notice of default and no opportunity to cure shall be required if during any 12-month period Lender has already sent a notice to Borrower concerning default in the
performance of the same obligation. None of the foregoing shall be construed to obligate Lender to forebear in any other manner from exercising its remedies and Lender may pursue any other rights or remedies which Lender may have because of a
default. 
 13. Commercial Purpose. The obligation evidenced by this Note is exclusively for commercial or business
purposes. 
 14. Notices. All notices required or permitted under this Note shall be in writing and may be
telecopies, cabled, delivered by hand, or mailed by first class registered or certified mail, return receipt requested, postage prepaid, and addressed as follows: 
 If to Lender: 
 STANDARD INSURANCE COMPANY 

c/o StanCorp Mortgage Investors, LLC 
 Attn: Mortgage Loan Servicing T3A 
 19225 NW Tanasbourne Drive

 Hillsboro, OR 97124 
 If to Borrower: 
 VITRAN MICHIGAN, LLC 

Attn: Chris Keylon 
 P.O. Box 1290 (for U.S.P.S. mail delivery) 
 2850 Kramer Road (for
courier or other delivery) 
 Gibsonia, PA 15044 

Changes in the respective addresses to which such notices shall be directed may be from time to time by either party by notice to the
other party given at least ten (10) days before such change of address is to become effective. Notices given by mail in accordance with this provision shall be deemed to have been given three (3) days after the date of dispatch; notices
given by any other means shall be deemed to have been given when received. 
 15. Choice of Law, Jurisdiction and Venue;
Enforceability; Severability. Except for matters relating to the validity and/or enforcement of the security interest of Lender in the Property, which shall be determined in accordance with the applicable laws of the state in which the affected
Property is situated, the law of the state of Oregon shall govern the validity, interpretation, construction, performance and enforcement of this Note and any and all other 

  
 Page 8

 
Loan Documents. If, for any reason or to any extent any word, term, provision, or clause of this Note or any of the other Loan Documents, or its application to any person or situation, shall be
found by a court or other adjudicating authority to be invalid or unenforceable, the remaining words, terms, provisions, or clauses shall be enforced, and the affected work, term, clause, or provision shall be applied, to the fullest extent
permitted by law. Borrower irrevocably submits to the jurisdiction of Multnomah County state or Portland, Oregon federal court in any action or proceeding brought to enforce or otherwise arising out of or relating to this Note or any of the
other Loan Documents, and waives any claim that such forum is inappropriate and/or an inconvenient forum. 
 16. Successors
and Assigns. Whenever used herein, the words “undersigned”, “Borrower” and “Lender” shall be deemed to include their respective heirs, devisees, executors, administrators, personal representatives, successors and
assigns. 
 NOTICES TO BORROWER 
 DO NOT SIGN THIS NOTE BEFORE YOU READ IT. THIS NOTE PROVIDES FOR THE PAYMENT OF A FEE IF THIS NOTE IS PREPAID PRIOR TO THE DATE PROVIDED FOR REPAYMENT IN THIS NOTE AND OTHER CHARGES IF PAYMENTS ARE
LATE. IF YOU HAVE ANY QUESTIONS ABOUT THIS NOTE, YOU SHOULD CONSULT YOUR ATTORNEY. 
 ORS 41.580 Disclosure. UNDER OREGON
LAW, MOST AGREEMENTS, PROMISES AND COMMITMENTS BY LENDER, CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES, OR SECURED SOLELY BY THE BORROWER’S RESIDENCE MUST BE IN WRITING, EXPRESS
CONSIDERATION AND BE SIGNED BY AN AUTHORIZED REPRESENTATIVE OF LENDER TO BE ENFORCEABLE. 
 BORROWER: 

VITRAN MICHIGAN, LLC, 
 a Delaware
limited liability company 
  

			
	By:	 	 /s/ CHRIS KEYLON

		 	CHRIS KEYLON
		 	Its: Authorized Manager

  
 Page 9

 SIC Loan No. B2110727 

NOTE 
  

					
	$535,000.00	  	 	December 19, 2012	  

 FOR VALUE RECEIVED, the undersigned, VITRAN MISSISSIPPI, LLC, a Delaware limited liability company
(“Borrower”), promises to pay in lawful money of the United States, to the order of STANDARD INSURANCE COMPANY, an Oregon corporation (together with any assigns, collectively, “Lender”), at its office in Hillsboro, Oregon,
or such other place as Lender may designate, the principal amount of a loan (“Loan”) of Five Hundred Thirty-Five Thousand and No/100ths Dollars ($535,000.00), together with interest thereon, on the following agreements, terms
and conditions. 
 1. Payments. Borrower shall make monthly payments of principal and interest to Lender, in amounts
sufficient to fully amortize the principal balance of this Note over a fifteen (15) year amortization period in substantially equal monthly payments. Such monthly payments of principal and interest shall be in the initial amount of Four
Thousand One Hundred Ninety-Six and No/100ths Dollars ($4,196.00) payable on the first day of each month, commencing with the first day of February, 2013, together with such other sums as may become due
hereunder or under any instrument securing this Note, until the entire indebtedness is fully paid, except that any remaining indebtedness if not sooner paid shall be finally due and payable on the first day of January, 2028, which is
the maturity date of this Note (“Maturity Date”). The monthly payment amount will change after each Rate Adjustment Date (as defined in Paragraph 2) to an amount sufficient to repay the then unpaid principal balance of this Note in full at
the then current interest rate, in substantially equal monthly payments over the balance of the amortization period specified above. If applicable, until the payment is again changed, Borrower shall pay the new monthly payment each month beginning
on the first day of the first calendar month after the applicable Rate Adjustment Date. Lender will mail or deliver to Borrower a notice of any changes in the interest rate applicable to this Note, and any resulting changes in the monthly payments
required under this Note, prior to the date the first payment is due after the applicable Rate Adjustment Date. Every payment received with respect hereto shall be applied, in any order that may be determined by Lender in its sole discretion, to
sums under this Note, including, without limitation: (a) late charges; (b) expenses paid or funds advanced by Lender with interest thereon at the Default Rate when applicable (as hereinafter defined); (c) any prepayment fees due with
respect to any payment and any other fees which may remain unpaid; (d) accrued interest on the principal balance from time to time remaining unpaid; and (e) subject to the prepayment provisions herein, the principal balance hereunder.

 2. Interest. The interest rate applicable to this Note will change on the applicable Rate Adjustment Dates. Interest
shall be calculated on the basis of a 360-day year consisting of twelve 30-day months, except that interest due and payable for a period of less than a full month and/or any prepayment shall be calculated on an actual accrual method. The initial
interest rate included in the aforesaid payments, unless adjusted as otherwise provided in this Note, shall be calculated at the rate of Four and Seven-Eighths percent (4.875%) per annum (“Note Rate”) upon the unpaid
balance of principal of this Note. Borrower, jointly and severally, also promises 

  
 Page 1

 
to pay interest at the Note Rate from the date of disbursement of the Loan proceeds evidenced by this Note (“Disbursement Date”) to the date from which interest is included in the first
payment previously described. As used herein, “Rate Adjustment Date(s)” shall be as follows: 
  

	 	•	 	 59 months from the First Payment Date; 

  

	 	•	 	 119 months from the First Payment Date; 

  

	 	(a)	One hundred and twenty (120) days prior to each Rate Adjustment Date, Lender will notify Borrower in writing of the Adjusted Interest Rate that will become
effective in accordance with this Note. The “Adjusted Interest Rate” will be Lender’s then prevailing annual interest rate for similar loans then being originated by Lender with a similar term (equal to the period between the Rate
Adjustment Date and the earlier of the next Rate Adjustment Date or the Maturity Date) then being originated by Lender on properties comparable to the Property (as herein defined) as determined solely by Lender. 

 

	 	(a)	Borrower shall have thirty (30) days from the date of receipt of such notification from Lender to accept or reject the Adjusted Interest Rate. Failure by Borrower
to notify Lender of the acceptance or rejection of the Adjusted Interest Rate within such thirty (30) day period shall be deemed to be a rejection of the Adjusted Interest Rate. If the Adjusted Interest Rate is rejected by Borrower (or deemed
rejected), the entire unpaid principal balance of this Note, all accrued unpaid interest hereon, and any other amounts payable hereunder or under the other Loan Documents (as hereinafter defined) shall be due and payable in full, without a
Prepayment Fee, no later than the Rate Adjustment Date. 

  

	 	(b)	If Borrower accepts the Adjusted Interest Rate for the offered period, the Adjusted Interest Rate shall become effective on the Rate Adjustment Date and monthly
installments of principal and interest shall then be due and payable in an amount to be determined that will amortize the remaining unpaid principal balance of this Note at the Adjusted Interest Rate over the remaining amortization period. In such
case, Borrower shall also have the option to prepay a portion of the remaining unpaid principal balance of this Note as described in paragraph 3(e) below. 

  

	 	(c)	Thereafter, monthly installments of principal and interest on the unpaid principal balance of this Note, at the Adjusted Interest Rate, in the amount thus calculated,
shall be due and payable in consecutive monthly installments commencing on the first day of the calendar month after the Rate Adjustment Date and continuing on the first day of each calendar month thereafter, to and including the monthly installment
of principal and interest due and payable on the earlier of the next Rate Adjustment Date or the Maturity Date. 

3. Prepayment Restrictions; Fees. Borrower shall have the right to prepay, in full but not in part, the obligation
evidenced by this Note upon giving Lender (i) not less than thirty 

  
 Page 2

 
(30) days’ prior written notice of (a) Borrower’s intention to so prepay this Note, and (b) the date upon which such prepayment will be received by Lender (“Prepayment
Date”), and (ii) payment to Lender of the Prepayment Fee (as hereinafter defined), if any, then due to Lender as hereinafter provided. 
  

	 	(a)	As used herein, the term “Prepayment Fee” shall mean an amount which is the greater of 

 

	 	(i)	one percent (1%) of the outstanding principal balance of this Note at the time of prepayment, or 

 

	 	(ii)	the sum of 

  

	 	(A)	the Present Value (as hereinafter defined) of the scheduled monthly payments due under this Note from the Prepayment Date to the earlier of the next Rate Adjustment
Date or the Maturity Date. 

  

	 	(B)	the Present Value of the amount of principal and interest due under this Note on the earlier of the next Rate Adjustment Date or the Maturity Date (assuming all
scheduled monthly payments due prior to such dates were made when due), minus 

  

	 	(C)	the outstanding principal balance of this Note as of the Prepayment Date. 

 The “Present Values” described in (A) and (B) shall be computed on a monthly basis as of the Prepayment Date discounted at a rate equal to the yield-to-maturity of the U.S. Treasury
Note or Bond closest in maturity to the earlier of the next Rate Adjustment Date or the Maturity Date as reported in The Wall Street Journal (or, if The Wall Street Journal is no longer published, as reported in such other daily financial
publication of national circulation which shall be designated by Lender) on the fifth business day preceding the Prepayment Date. Borrower shall be obligated to prepay this Note on the Prepayment Date set forth in the written notice to Lender
required hereinabove, after such notice has been delivered to Lender. 
  

	 	(b)	Notwithstanding the foregoing or any other provision herein to the contrary, if Lender elects to apply insurance proceeds, condemnation awards, or any escrowed amounts,
if applicable, to the reduction of the outstanding principal balance of this Note in the manner provided in the Deed of Trust, no Prepayment Fee shall be due or payable as a result of such application and the monthly installments due and payable
hereunder shall be reduced accordingly. 

  
 Page 3

	 	(c)	In the event the Maturity Date is accelerated by Lender at any time due to a default by Borrower in the payment of principal and/or interest due under this Note or in
the performance of the terms, covenants or conditions contained in this Note, the Deed of Trust or any of the other Loan Documents (as hereinafter defined), then a tender of payment in an amount necessary to satisfy the entire outstanding principal
balance of this Note together with all accrued unpaid interest hereon made by Borrower, or by anyone on behalf of Borrower, at any time prior to, at, or as a result of, a foreclosure sale or sale pursuant to power of sale, shall constitute a
voluntary prepayment hereunder prior to the contracted Maturity Date of this Note thus requiring the payment to Lender of a Prepayment Fee equal to the applicable Prepayment Fee as set forth in paragraph (a) above; provided, however, that in
the event such Prepayment Fee is construed to be interest under the laws of the State of Oregon in any circumstance, such payment shall not be required to the extent that the amount thereof, together with other interest payable hereunder, exceeds
the maximum rate of interest that may be lawfully charged under applicable law. 

  

	 	(d)	Notwithstanding anything contained herein to the contrary, during the ninety (90) day period immediately preceding the Maturity Date of this Note, the entire
outstanding principal balance and all accrued unpaid interest on this Note may be prepaid in whole, but not in part, at par, without incurring a Prepayment Fee. 

 

	 	(e)	Notwithstanding anything contained herein to the contrary, if Borrower accepts the Adjusted Interest Rate as provided in paragraph 2 above, Borrower shall have the
right to prepay a portion of the unpaid principal balance of this Note prior to the Rate Adjustment Date, without a Prepayment Fee, provided the remaining principal balance of this Note after the prepayment may not be less than $150,000.00. Any
partial prepayment must be received by Lender no less than thirty (30) days prior to the Rate Adjustment Date. Any partial prepayment will be applied to pay down the principal balance of this Note upon Lender’s receipt of such prepayment.
The then remaining principal balance of this Note will then be used to calculate the new monthly payment amount as described in paragraph 2(d) above. 

 4. Waiver. To the extent permitted by law, each and every Borrower, surety, guarantor, endorser or signator to this Note and any other party now or hereafter liable for the payment of this Note, in
whatever capacity, whether in whole or in part hereby (a) waives notice of intent to demand, presentment for payment, notice of demand, demand, notice of nonpayment, protest, notice of protest, notice of dishonor, notice of intent to
accelerate, notice of acceleration, and all other notices, filing of suit, and diligence in collecting this Note and/or enforcing any of the security herefor; (b) agrees that Lender shall not be required first to institute suit or exhaust its
remedies against Borrower or others liable or to become liable hereon or against the Property (as hereinafter defined), it being understood that Lender may exercise its rights hereunder and pursue its remedies in any order and at any time it
desires, and may do so, without notice to or consent of any such person, and without in any way diminishing the obligations of any such 

  
 Page 4

 
person; (c) consents to Lender dealing with any such person with reference to this Note by way of forbearance, extension, modification, compromise or otherwise; (d) consents and agrees
to any and all extensions, releases, renewals, partial payments, surrenders, exchanges, substitutions of security herefor, compromises, discharges or modifications and any other indulgence with respect to any right or obligation secured by or
provided by the Deed of Trust, Mortgage, or Deed to Secure Debt, as the case may be, securing this Note (“Deed of Trust”) or any other instrument securing this Note, before or after the maturity of this Note, without notice thereof to any
of them; or (e) consents and agrees that Lender may take any other action which Lender may deem reasonably appropriate to protect its security interest in the property securing this Note (“Property”). Any such action(s) taken under
the preceding sentence may be taken against one, all, or some of such persons, and Lender may take any such action against one differently than another of such persons, in Lender’s sole discretion. 

5. Default; Default Rate. Time is material and of the essence hereof with respect to the payment of any sums of any nature by and
the performance of all duties or obligations of the Borrower. Each of the following shall be an Event of Default under this Note: (a) failure to make any payment of principal and/or interest or any other payment required by the provisions of
this Note or of any instrument securing this Note on the date such payment or payments are due; (b) failure to perform any other provision of this Note or of any instrument securing this Note; (c) falsity in any material respect of the
warranties in the Deed of Trust or of any representation, warranty or information furnished by Borrower or its agents to Lender in connection with the loan evidenced by this Note (“Loan”); or (d) failure to pay or perform under any
Other Loan Documents (as described and defined in the Deed of Trust). Upon the occurrence of any Event of Default, any sum not paid as provided in this Note or in any instrument securing this Note, shall, at the option of Lender, without notice,
bear interest from such due date at a rate of interest (“Default Rate”) equal to four (4) percentage points per annum greater than the Note Rate, or the maximum rate of interest permitted by law, whichever is the lesser, and, at the
option of Lender, the unpaid balance of principal, accrued interest, plus any other sums due under this Note, or under any instrument securing this Note shall at once become due and payable, without notice except as described in paragraph 12, and
shall bear interest at the Default Rate. If an Event of Default occurs during a period of time in which prepayment is permitted only on payment of a prepayment fee, such fee shall be computed as if the sum declared due on default were a prepayment
and shall be added to the sums due and payable hereunder. 
 6. Late Charges. If any payment is not received by Lender
(or by the correspondent if a correspondent has been designated by Lender to receive payments) within five (5) calendar days after its due date, Lender, at its option, may assess a late charge equal to five cents for each $1.00 of each overdue
payment or the maximum late charge permitted by the laws of the state in which the Property is located, whichever is less. Such late charge shall be due and payable on demand, and Lender, at its option, may (a) refuse to accept any late payment
or any subsequent payment unless accompanied by such late charge, (b) add such late charge to the principal balance of this Note or (c) treat the failure to pay such late charge as demanded as an Event of Default hereunder. If such late
charge is added to the principal balance of this Note, it 

  
 Page 5

 
shall bear interest at the Default Rate. The late charge is compensation for damages suffered by Lender and does not constitute interest. 

7. Acknowledgments Regarding Default Rate, Late Charges and Prepayment Charges. 

 

	 	(a)	Borrower acknowledges and agrees that (i) a default in making the payments herein agreed to be paid when due will result in the Lender incurring additional expense
in servicing the Loan, loss to Lender of the use of the money due, and frustration to Lender in meeting its other commitments, (ii) if for any reason it fails to pay any amounts due hereunder, Lender shall be entitled to damages for the
detriment caused thereby, but that it is extremely difficult and impractical to ascertain the extent of such damages, and (iii) the Default Rate and the late charge described in this Note are a reasonable estimate of such damages.

  

	 	(b)	Borrower acknowledges and agrees that (i) prepayment prior to the maturity date may result in loss to Lender, (ii) the amount of the loss will depend on the
interest rates at the time of prepayment, the amount of principal prepaid and the length of time remaining between the prepayment date and the scheduled maturity date, (iii) prepayment is most likely to occur when interest rates have dropped
below the Note Rate, and (iv) because it is extremely difficult and impractical to ascertain now the amount of loss Lender may suffer in the event of prepayment, (A) Lender shall be entitled to damages for the loss caused by prepayment and
(B) the prepayment fee described in this Note is a reasonable measure of such damages. Borrower agrees that the prepayment fee described in this Note shall be imposed, to the extent permitted by law, whether the prepayment is voluntary,
involuntary or by operation of law, in connection with an Event of Default, or required by Lender in connection with a transfer or contract to transfer the Property, provided that no prepayment fee shall be added to sums prepaid with casualty
insurance proceeds or condemnation awards. 

  

	 	(c)	Borrower expressly (i) waives any right to prepay the Loan without payment of the prepayment fee described above in connection with a transfer or contract to
transfer the Property by Borrower, or a successor in interest of the undersigned, and (ii) agrees to pay such prepayment fee as provided above in connection with such a transfer or contract to transfer. 

 

	 	(d)	Borrower represents that it is a knowledgeable real estate investor and fully understands the effect of the fees, charges, waivers and agreements contained above.
Borrower acknowledges and agrees that the making of the Loan by Lender at the interest rate and with the other terms described herein is sufficient consideration for such fees, charges, waiver and agreement, and that Lender would not make this Loan
on these terms without such fees, charges, waiver and agreement. 

  
 Page 6

 8. Expenses and Attorney Fees. If Lender refers this Note to an attorney for
collection or seeks legal advice following a default alleged in good faith under this Note; if Lender is the prevailing party in any litigation instituted in connection with this Note; or if Lender or any other person initiates any judicial or
nonjudicial action, suit or proceeding, including but not limited to a foreclosure sale, in connection with this Note or the security therefor, and an attorney is employed by Lender to (a) appear in any such action, suit or proceeding,
(b) reclaim, seek relief from a judicial or statutory stay, sequester, protect, preserve or enforce Lender’s interest in this Note, the Deed of Trust, or any other security for this Note (including but not limited to proceedings at
appellate levels, under federal bankruptcy law, in eminent domain, under probate proceedings, or in connection with any state or federal tax lien), or (c) assist Lender in any foreclosure sale, then, in any such event, Borrower shall pay
attorney’s fees and costs and expenses incurred by Lender and/or its attorney in connection with the above-mentioned events and any appeals or discretionary reviews related to such events, including but not limited to costs incurred in
searching records, the cost of title reports, the cost of appraisals, and the cost of surveyors’ reports. If not paid within ten days after such fees, costs and expenses become due and written demand for payment is made upon Borrower, such
amount may, at Lender’s option, be added to the principal of this Note and shall bear interest at the Default Rate. 
 9.
No Usury. In no event shall any payment of interest or any other sum payable hereunder both (a) violate the usury laws of the state in which the Property is located and (b) allow Borrower to bring a claim for usury or raise usury as
a defense in any action on this Note. If it is established that both (a) and (b) have occurred, and any payment exceeding lawful limits has been received, Lender shall refund such excess or, at its option, credit the excess amount to
principal, but such payments shall not affect the obligation to make periodic payments required herein. 
 10. Security.
The indebtedness evidenced by this Note is secured by the Deed of Trust, Mortgage, or Deed to Secure Debt, as applicable (“Deed of Trust”), of even date and may be secured by other security instruments. 

11. Due on Sale or Encumbrance. As provided in the Deed of Trust securing this Note, and subject to any exceptions provided
therein, transfers or encumbrances of the Property, or of ownership interests in Borrower, cause all sums evidenced by this Note and/or secured by the Deed of Trust or by any other Loan Document to become immediately due and payable. By signing this
Note, Borrower acknowledges that Borrower has received and reviewed a copy of the Deed of Trust and is familiar with the provisions restricting the transfer of the Property and the ownership interests therein and assumptions of the Loan. 

12. Notice and Opportunity to Cure. Notwithstanding any other provision of this Note, Lender shall not accelerate the sums
evidenced hereby because of a nonmonetary default (defined below) by Borrower unless Borrower fails to cure the default within fifteen (15) days of the earlier of the date on which Lender mails or delivers written notice of the default to
Borrower. For purposes of this Note, the term “nonmonetary default” means a failure by Borrower or any other person or entity to perform any obligation contained in this Note or any other document or instrument evidencing or securing the
Loan (collectively, “Loan 

  
 Page 7

 
Documents”), other than the obligation to make payments provided for in this Note or any other Loan Document. If a nonmonetary default is capable of being cured and the cure cannot
reasonably be completed within the fifteen (15) day cure period, the cure period shall be extended up to sixty (60) days so long as Borrower has commenced action to cure within the fifteen (15) day cure period, and in Lender’s
opinion, Borrower is proceeding to cure the default with due diligence. No notice of default and no opportunity to cure shall be required if during any 12-month period Lender has already sent a notice to Borrower concerning default in the
performance of the same obligation. None of the foregoing shall be construed to obligate Lender to forebear in any other manner from exercising its remedies and Lender may pursue any other rights or remedies which Lender may have because of a
default. 
 13. Commercial Purpose. The obligation evidenced by this Note is exclusively for commercial or business
purposes. 
 14. Notices. All notices required or permitted under this Note shall be in writing and may be
telecopies, cabled, delivered by hand, or mailed by first class registered or certified mail, return receipt requested, postage prepaid, and addressed as follows: 
 If to Lender: 
 STANDARD INSURANCE COMPANY 

c/o StanCorp Mortgage Investors, LLC 
 Attn: Mortgage Loan Servicing T3A 
 19225 NW Tanasbourne Drive

 Hillsboro, OR 97124 
 If to Borrower: 
 VITRAN MISSISSIPPI, LLC 

Attn: Chris Keylon 
 P.O. Box 1290 (for U.S.P.S. mail delivery) 
 2850 Kramer Road (for
courier or other delivery) 
 Gibsonia, PA 15044 

Changes in the respective addresses to which such notices shall be directed may be from time to time by either party by notice to the
other party given at least ten (10) days before such change of address is to become effective. Notices given by mail in accordance with this provision shall be deemed to have been given three (3) days after the date of dispatch; notices
given by any other means shall be deemed to have been given when received. 
 15. Choice of Law, Jurisdiction and Venue;
Enforceability; Severability. Except for matters relating to the validity and/or enforcement of the security interest of Lender in the Property, which shall be determined in accordance with the applicable laws of the state in which the affected
Property is situated, the law of the state of Oregon shall govern the validity, interpretation, construction, performance and enforcement of this Note and any and all other 

  
 Page 8

 
Loan Documents. If, for any reason or to any extent any word, term, provision, or clause of this Note or any of the other Loan Documents, or its application to any person or situation, shall be
found by a court or other adjudicating authority to be invalid or unenforceable, the remaining words, terms, provisions, or clauses shall be enforced, and the affected work, term, clause, or provision shall be applied, to the fullest extent
permitted by law. Borrower irrevocably submits to the jurisdiction of Multnomah County state or Portland, Oregon federal court in any action or proceeding brought to enforce or otherwise arising out of or relating to this Note or any of the
other Loan Documents, and waives any claim that such forum is inappropriate and/or an inconvenient forum. 
 16. Successors
and Assigns. Whenever used herein, the words “undersigned”, “Borrower” and “Lender” shall be deemed to include their respective heirs, devisees, executors, administrators, personal representatives, successors and
assigns. 
 NOTICES TO BORROWER 
 DO NOT SIGN THIS NOTE BEFORE YOU READ IT. THIS NOTE PROVIDES FOR THE PAYMENT OF A FEE IF THIS NOTE IS PREPAID PRIOR TO THE DATE PROVIDED FOR REPAYMENT IN THIS NOTE AND OTHER CHARGES IF PAYMENTS ARE
LATE. IF YOU HAVE ANY QUESTIONS ABOUT THIS NOTE, YOU SHOULD CONSULT YOUR ATTORNEY. 
 ORS 41.580 Disclosure. UNDER OREGON
LAW, MOST AGREEMENTS, PROMISES AND COMMITMENTS BY LENDER, CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES, OR SECURED SOLELY BY THE BORROWER’S RESIDENCE MUST BE IN WRITING, EXPRESS
CONSIDERATION AND BE SIGNED BY AN AUTHORIZED REPRESENTATIVE OF LENDER TO BE ENFORCEABLE. 
 BORROWER: 

VITRAN MISSISSIPPI, LLC, 
 a
Delaware limited liability company 
  

			
	By:	 	 /s/ CHRIS KEYLON

		 	CHRIS KEYLON
		 	Its: Authorized Manager

  
 Page 9

 SIC Loan No. B2110732 

NOTE 
  

					
	$467,000.00	  	 	December 19, 2012	  

 FOR VALUE RECEIVED, the undersigned, VITRAN NORTH DAKOTA, LLC, a Delaware limited liability company
(“Borrower”), promises to pay in lawful money of the United States, to the order of STANDARD INSURANCE COMPANY, an Oregon corporation (together with any assigns, collectively, “Lender”), at its office in Hillsboro, Oregon,
or such other place as Lender may designate, the principal amount of a loan (“Loan”) of Four Hundred Sixty-Seven Thousand and No/100ths Dollars ($467,000.00), together with interest thereon, on the following agreements, terms
and conditions. 
 1. Payments. Borrower shall make monthly payments of principal and interest to Lender, in amounts
sufficient to fully amortize the principal balance of this Note over a fifteen (15) year amortization period in substantially equal monthly payments. Such monthly payments of principal and interest shall be in the initial amount of Three
Thousand Six Hundred Sixty-Three and No/100ths Dollars ($3,663.00) payable on the first day of each month, commencing with the first day of February, 2013, together with such other sums as may become due
hereunder or under any instrument securing this Note, until the entire indebtedness is fully paid, except that any remaining indebtedness if not sooner paid shall be finally due and payable on the first day of January, 2028, which is
the maturity date of this Note (“Maturity Date”). The monthly payment amount will change after each Rate Adjustment Date (as defined in Paragraph 2) to an amount sufficient to repay the then unpaid principal balance of this Note in full at
the then current interest rate, in substantially equal monthly payments over the balance of the amortization period specified above. If applicable, until the payment is again changed, Borrower shall pay the new monthly payment each month beginning
on the first day of the first calendar month after the applicable Rate Adjustment Date. Lender will mail or deliver to Borrower a notice of any changes in the interest rate applicable to this Note, and any resulting changes in the monthly payments
required under this Note, prior to the date the first payment is due after the applicable Rate Adjustment Date. Every payment received with respect hereto shall be applied, in any order that may be determined by Lender in its sole discretion, to
sums under this Note, including, without limitation: (a) late charges; (b) expenses paid or funds advanced by Lender with interest thereon at the Default Rate when applicable (as hereinafter defined); (c) any prepayment fees due with
respect to any payment and any other fees which may remain unpaid; (d) accrued interest on the principal balance from time to time remaining unpaid; and (e) subject to the prepayment provisions herein, the principal balance hereunder.

 2. Interest. The interest rate applicable to this Note will change on the applicable Rate Adjustment Dates. Interest
shall be calculated on the basis of a 360-day year consisting of twelve 30-day months, except that interest due and payable for a period of less than a full month and/or any prepayment shall be calculated on an actual accrual method. The initial
interest rate included in the aforesaid payments, unless adjusted as otherwise provided in this Note, shall be calculated at the rate of Four and Seven-Eighths percent (4.875%) per annum (“Note Rate”) upon the unpaid
balance of principal of this Note. Borrower, jointly and severally, also promises 

  
 Page 1

 
to pay interest at the Note Rate from the date of disbursement of the Loan proceeds evidenced by this Note (“Disbursement Date”) to the date from which interest is included in the first
payment previously described. As used herein, “Rate Adjustment Date(s)” shall be as follows: 
  

	 	•	 	 59 months from the First Payment Date; 

  

	 	•	 	 119 months from the First Payment Date; 

  

	 	(a)	One hundred and twenty (120) days prior to each Rate Adjustment Date, Lender will notify Borrower in writing of the Adjusted Interest Rate that will become
effective in accordance with this Note. The “Adjusted Interest Rate” will be Lender’s then prevailing annual interest rate for similar loans then being originated by Lender with a similar term (equal to the period between the Rate
Adjustment Date and the earlier of the next Rate Adjustment Date or the Maturity Date) then being originated by Lender on properties comparable to the Property (as herein defined) as determined solely by Lender. 

 

	 	(a)	Borrower shall have thirty (30) days from the date of receipt of such notification from Lender to accept or reject the Adjusted Interest Rate. Failure by Borrower
to notify Lender of the acceptance or rejection of the Adjusted Interest Rate within such thirty (30) day period shall be deemed to be a rejection of the Adjusted Interest Rate. If the Adjusted Interest Rate is rejected by Borrower (or deemed
rejected), the entire unpaid principal balance of this Note, all accrued unpaid interest hereon, and any other amounts payable hereunder or under the other Loan Documents (as hereinafter defined) shall be due and payable in full, without a
Prepayment Fee, no later than the Rate Adjustment Date. 

  

	 	(b)	If Borrower accepts the Adjusted Interest Rate for the offered period, the Adjusted Interest Rate shall become effective on the Rate Adjustment Date and monthly
installments of principal and interest shall then be due and payable in an amount to be determined that will amortize the remaining unpaid principal balance of this Note at the Adjusted Interest Rate over the remaining amortization period. In such
case, Borrower shall also have the option to prepay a portion of the remaining unpaid principal balance of this Note as described in paragraph 3(e) below. 

  

	 	(c)	Thereafter, monthly installments of principal and interest on the unpaid principal balance of this Note, at the Adjusted Interest Rate, in the amount thus calculated,
shall be due and payable in consecutive monthly installments commencing on the first day of the calendar month after the Rate Adjustment Date and continuing on the first day of each calendar month thereafter, to and including the monthly installment
of principal and interest due and payable on the earlier of the next Rate Adjustment Date or the Maturity Date. 

3. Prepayment Restrictions; Fees. Borrower shall have the right to prepay, in full but not in part, the obligation
evidenced by this Note upon giving Lender (i) not less than thirty 

  
 Page 2

 
(30) days’ prior written notice of (a) Borrower’s intention to so prepay this Note, and (b) the date upon which such prepayment will be received by Lender (“Prepayment
Date”), and (ii) payment to Lender of the Prepayment Fee (as hereinafter defined), if any, then due to Lender as hereinafter provided. 
  

	 	(a)	As used herein, the term “Prepayment Fee” shall mean an amount which is the greater of 

 

	 	(i)	one percent (1%) of the outstanding principal balance of this Note at the time of prepayment, or 

 

	 	(ii)	the sum of 

  

	 	(A)	the Present Value (as hereinafter defined) of the scheduled monthly payments due under this Note from the Prepayment Date to the earlier of the next Rate Adjustment
Date or the Maturity Date. 

  

	 	(B)	the Present Value of the amount of principal and interest due under this Note on the earlier of the next Rate Adjustment Date or the Maturity Date (assuming all
scheduled monthly payments due prior to such dates were made when due), minus 

  

	 	(C)	the outstanding principal balance of this Note as of the Prepayment Date. 

 The “Present Values” described in (A) and (B) shall be computed on a monthly basis as of the Prepayment Date discounted at a rate equal to the yield-to-maturity of the U.S. Treasury
Note or Bond closest in maturity to the earlier of the next Rate Adjustment Date or the Maturity Date as reported in The Wall Street Journal (or, if The Wall Street Journal is no longer published, as reported in such other daily financial
publication of national circulation which shall be designated by Lender) on the fifth business day preceding the Prepayment Date. Borrower shall be obligated to prepay this Note on the Prepayment Date set forth in the written notice to Lender
required hereinabove, after such notice has been delivered to Lender. 
  

	 	(b)	Notwithstanding the foregoing or any other provision herein to the contrary, if Lender elects to apply insurance proceeds, condemnation awards, or any escrowed amounts,
if applicable, to the reduction of the outstanding principal balance of this Note in the manner provided in the Deed of Trust, no Prepayment Fee shall be due or payable as a result of such application and the monthly installments due and payable
hereunder shall be reduced accordingly. 

  
 Page 3

	 	(c)	In the event the Maturity Date is accelerated by Lender at any time due to a default by Borrower in the payment of principal and/or interest due under this Note or in
the performance of the terms, covenants or conditions contained in this Note, the Deed of Trust or any of the other Loan Documents (as hereinafter defined), then a tender of payment in an amount necessary to satisfy the entire outstanding principal
balance of this Note together with all accrued unpaid interest hereon made by Borrower, or by anyone on behalf of Borrower, at any time prior to, at, or as a result of, a foreclosure sale or sale pursuant to power of sale, shall constitute a
voluntary prepayment hereunder prior to the contracted Maturity Date of this Note thus requiring the payment to Lender of a Prepayment Fee equal to the applicable Prepayment Fee as set forth in paragraph (a) above; provided, however, that in
the event such Prepayment Fee is construed to be interest under the laws of the State of Oregon in any circumstance, such payment shall not be required to the extent that the amount thereof, together with other interest payable hereunder, exceeds
the maximum rate of interest that may be lawfully charged under applicable law. 

  

	 	(d)	Notwithstanding anything contained herein to the contrary, during the ninety (90) day period immediately preceding the Maturity Date of this Note, the entire
outstanding principal balance and all accrued unpaid interest on this Note may be prepaid in whole, but not in part, at par, without incurring a Prepayment Fee. 

 

	 	(e)	Notwithstanding anything contained herein to the contrary, if Borrower accepts the Adjusted Interest Rate as provided in paragraph 2 above, Borrower shall have the
right to prepay a portion of the unpaid principal balance of this Note prior to the Rate Adjustment Date, without a Prepayment Fee, provided the remaining principal balance of this Note after the prepayment may not be less than $150,000.00. Any
partial prepayment must be received by Lender no less than thirty (30) days prior to the Rate Adjustment Date. Any partial prepayment will be applied to pay down the principal balance of this Note upon Lender’s receipt of such prepayment.
The then remaining principal balance of this Note will then be used to calculate the new monthly payment amount as described in paragraph 2(d) above. 

 4. Waiver. To the extent permitted by law, each and every Borrower, surety, guarantor, endorser or signator to this Note and any other party now or hereafter liable for the payment of this Note, in
whatever capacity, whether in whole or in part hereby (a) waives notice of intent to demand, presentment for payment, notice of demand, demand, notice of nonpayment, protest, notice of protest, notice of dishonor, notice of intent to
accelerate, notice of acceleration, and all other notices, filing of suit, and diligence in collecting this Note and/or enforcing any of the security herefor; (b) agrees that Lender shall not be required first to institute suit or exhaust its
remedies against Borrower or others liable or to become liable hereon or against the Property (as hereinafter defined), it being understood that Lender may exercise its rights hereunder and pursue its remedies in any order and at any time it
desires, and may do so, without notice to or consent of any such person, and without in any way diminishing the obligations of any such 

  
 Page 4

 
person; (c) consents to Lender dealing with any such person with reference to this Note by way of forbearance, extension, modification, compromise or otherwise; (d) consents and agrees
to any and all extensions, releases, renewals, partial payments, surrenders, exchanges, substitutions of security herefor, compromises, discharges or modifications and any other indulgence with respect to any right or obligation secured by or
provided by the Deed of Trust, Mortgage, or Deed to Secure Debt, as the case may be, securing this Note (“Deed of Trust”) or any other instrument securing this Note, before or after the maturity of this Note, without notice thereof to any
of them; or (e) consents and agrees that Lender may take any other action which Lender may deem reasonably appropriate to protect its security interest in the property securing this Note (“Property”). Any such action(s) taken under
the preceding sentence may be taken against one, all, or some of such persons, and Lender may take any such action against one differently than another of such persons, in Lender’s sole discretion. 

5. Default; Default Rate. Time is material and of the essence hereof with respect to the payment of any sums of any nature by and
the performance of all duties or obligations of the Borrower. Each of the following shall be an Event of Default under this Note: (a) failure to make any payment of principal and/or interest or any other payment required by the provisions of
this Note or of any instrument securing this Note on the date such payment or payments are due; (b) failure to perform any other provision of this Note or of any instrument securing this Note; (c) falsity in any material respect of the
warranties in the Deed of Trust or of any representation, warranty or information furnished by Borrower or its agents to Lender in connection with the loan evidenced by this Note (“Loan”); or (d) failure to pay or perform under any
Other Loan Documents (as described and defined in the Deed of Trust). Upon the occurrence of any Event of Default, any sum not paid as provided in this Note or in any instrument securing this Note, shall, at the option of Lender, without notice,
bear interest from such due date at a rate of interest (“Default Rate”) equal to four (4) percentage points per annum greater than the Note Rate, or the maximum rate of interest permitted by law, whichever is the lesser, and, at the
option of Lender, the unpaid balance of principal, accrued interest, plus any other sums due under this Note, or under any instrument securing this Note shall at once become due and payable, without notice except as described in paragraph 12, and
shall bear interest at the Default Rate. If an Event of Default occurs during a period of time in which prepayment is permitted only on payment of a prepayment fee, such fee shall be computed as if the sum declared due on default were a prepayment
and shall be added to the sums due and payable hereunder. 
 6. Late Charges. If any payment is not received by Lender
(or by the correspondent if a correspondent has been designated by Lender to receive payments) within five (5) calendar days after its due date, Lender, at its option, may assess a late charge equal to five cents for each $1.00 of each overdue
payment or the maximum late charge permitted by the laws of the state in which the Property is located, whichever is less. Such late charge shall be due and payable on demand, and Lender, at its option, may (a) refuse to accept any late payment
or any subsequent payment unless accompanied by such late charge, (b) add such late charge to the principal balance of this Note or (c) treat the failure to pay such late charge as demanded as an Event of Default hereunder. If such late
charge is added to the principal balance of this Note, it 

  
 Page 5

 
shall bear interest at the Default Rate. The late charge is compensation for damages suffered by Lender and does not constitute interest. 

7. Acknowledgments Regarding Default Rate, Late Charges and Prepayment Charges. 

 

	 	(a)	Borrower acknowledges and agrees that (i) a default in making the payments herein agreed to be paid when due will result in the Lender incurring additional expense
in servicing the Loan, loss to Lender of the use of the money due, and frustration to Lender in meeting its other commitments, (ii) if for any reason it fails to pay any amounts due hereunder, Lender shall be entitled to damages for the
detriment caused thereby, but that it is extremely difficult and impractical to ascertain the extent of such damages, and (iii) the Default Rate and the late charge described in this Note are a reasonable estimate of such damages.

  

	 	(b)	Borrower acknowledges and agrees that (i) prepayment prior to the maturity date may result in loss to Lender, (ii) the amount of the loss will depend on the
interest rates at the time of prepayment, the amount of principal prepaid and the length of time remaining between the prepayment date and the scheduled maturity date, (iii) prepayment is most likely to occur when interest rates have dropped
below the Note Rate, and (iv) because it is extremely difficult and impractical to ascertain now the amount of loss Lender may suffer in the event of prepayment, (A) Lender shall be entitled to damages for the loss caused by prepayment and
(B) the prepayment fee described in this Note is a reasonable measure of such damages. Borrower agrees that the prepayment fee described in this Note shall be imposed, to the extent permitted by law, whether the prepayment is voluntary,
involuntary or by operation of law, in connection with an Event of Default, or required by Lender in connection with a transfer or contract to transfer the Property, provided that no prepayment fee shall be added to sums prepaid with casualty
insurance proceeds or condemnation awards. 

  

	 	(c)	Borrower expressly (i) waives any right to prepay the Loan without payment of the prepayment fee described above in connection with a transfer or contract to
transfer the Property by Borrower, or a successor in interest of the undersigned, and (ii) agrees to pay such prepayment fee as provided above in connection with such a transfer or contract to transfer. 

 

	 	(d)	Borrower represents that it is a knowledgeable real estate investor and fully understands the effect of the fees, charges, waivers and agreements contained above.
Borrower acknowledges and agrees that the making of the Loan by Lender at the interest rate and with the other terms described herein is sufficient consideration for such fees, charges, waiver and agreement, and that Lender would not make this Loan
on these terms without such fees, charges, waiver and agreement. 

  
 Page 6

 8. Expenses and Attorney Fees. If Lender refers this Note to an attorney for
collection or seeks legal advice following a default alleged in good faith under this Note; if Lender is the prevailing party in any litigation instituted in connection with this Note; or if Lender or any other person initiates any judicial or
nonjudicial action, suit or proceeding, including but not limited to a foreclosure sale, in connection with this Note or the security therefor, and an attorney is employed by Lender to (a) appear in any such action, suit or proceeding,
(b) reclaim, seek relief from a judicial or statutory stay, sequester, protect, preserve or enforce Lender’s interest in this Note, the Deed of Trust, or any other security for this Note (including but not limited to proceedings at
appellate levels, under federal bankruptcy law, in eminent domain, under probate proceedings, or in connection with any state or federal tax lien), or (c) assist Lender in any foreclosure sale, then, in any such event, Borrower shall pay
attorney’s fees and costs and expenses incurred by Lender and/or its attorney in connection with the above-mentioned events and any appeals or discretionary reviews related to such events, including but not limited to costs incurred in
searching records, the cost of title reports, the cost of appraisals, and the cost of surveyors’ reports. If not paid within ten days after such fees, costs and expenses become due and written demand for payment is made upon Borrower, such
amount may, at Lender’s option, be added to the principal of this Note and shall bear interest at the Default Rate. 
 9.
No Usury. In no event shall any payment of interest or any other sum payable hereunder both (a) violate the usury laws of the state in which the Property is located and (b) allow Borrower to bring a claim for usury or raise usury as
a defense in any action on this Note. If it is established that both (a) and (b) have occurred, and any payment exceeding lawful limits has been received, Lender shall refund such excess or, at its option, credit the excess amount to
principal, but such payments shall not affect the obligation to make periodic payments required herein. 
 10. Security.
The indebtedness evidenced by this Note is secured by the Deed of Trust, Mortgage, or Deed to Secure Debt, as applicable (“Deed of Trust”), of even date and may be secured by other security instruments. 

11. Due on Sale or Encumbrance. As provided in the Deed of Trust securing this Note, and subject to any exceptions provided
therein, transfers or encumbrances of the Property, or of ownership interests in Borrower, cause all sums evidenced by this Note and/or secured by the Deed of Trust or by any other Loan Document to become immediately due and payable. By signing this
Note, Borrower acknowledges that Borrower has received and reviewed a copy of the Deed of Trust and is familiar with the provisions restricting the transfer of the Property and the ownership interests therein and assumptions of the Loan. 

12. Notice and Opportunity to Cure. Notwithstanding any other provision of this Note, Lender shall not accelerate the sums
evidenced hereby because of a nonmonetary default (defined below) by Borrower unless Borrower fails to cure the default within fifteen (15) days of the earlier of the date on which Lender mails or delivers written notice of the default to
Borrower. For purposes of this Note, the term “nonmonetary default” means a failure by Borrower or any other person or entity to perform any obligation contained in this Note or any other document or instrument evidencing or securing the
Loan (collectively, “Loan 

  
 Page 7

 
Documents”), other than the obligation to make payments provided for in this Note or any other Loan Document. If a nonmonetary default is capable of being cured and the cure cannot
reasonably be completed within the fifteen (15) day cure period, the cure period shall be extended up to sixty (60) days so long as Borrower has commenced action to cure within the fifteen (15) day cure period, and in Lender’s
opinion, Borrower is proceeding to cure the default with due diligence. No notice of default and no opportunity to cure shall be required if during any 12-month period Lender has already sent a notice to Borrower concerning default in the
performance of the same obligation. None of the foregoing shall be construed to obligate Lender to forebear in any other manner from exercising its remedies and Lender may pursue any other rights or remedies which Lender may have because of a
default. 
 13. Commercial Purpose. The obligation evidenced by this Note is exclusively for commercial or business
purposes. 
 14. Notices. All notices required or permitted under this Note shall be in writing and may be
telecopies, cabled, delivered by hand, or mailed by first class registered or certified mail, return receipt requested, postage prepaid, and addressed as follows: 
 If to Lender: 
 STANDARD INSURANCE COMPANY

 c/o StanCorp Mortgage Investors, LLC 
 Attn: Mortgage Loan Servicing T3A 
 19225 NW Tanasbourne Drive

 Hillsboro, OR 97124 
 If to Borrower: 
 VITRAN NORTH DAKOTA, LLC

 Attn: Chris Keylon 
 P.O. Box 1290 (for U.S.P.S. mail delivery) 
 2850 Kramer Road (for
courier or other delivery) 
 Gibsonia, PA 15044 

Changes in the respective addresses to which such notices shall be directed may be from time to time by either party by notice to the
other party given at least ten (10) days before such change of address is to become effective. Notices given by mail in accordance with this provision shall be deemed to have been given three (3) days after the date of dispatch; notices
given by any other means shall be deemed to have been given when received. 
 15. Choice of Law, Jurisdiction and Venue;
Enforceability; Severability. Except for matters relating to the validity and/or enforcement of the security interest of Lender in the Property, which shall be determined in accordance with the applicable laws of the state in which the affected
Property is situated, the law of the state of Oregon shall govern the validity, interpretation, construction, performance and enforcement of this Note and any and all other 

  
 Page 8

 
Loan Documents. If, for any reason or to any extent any word, term, provision, or clause of this Note or any of the other Loan Documents, or its application to any person or situation, shall be
found by a court or other adjudicating authority to be invalid or unenforceable, the remaining words, terms, provisions, or clauses shall be enforced, and the affected work, term, clause, or provision shall be applied, to the fullest extent
permitted by law. Borrower irrevocably submits to the jurisdiction of Multnomah County state or Portland, Oregon federal court in any action or proceeding brought to enforce or otherwise arising out of or relating to this Note or any of the
other Loan Documents, and waives any claim that such forum is inappropriate and/or an inconvenient forum. 
 16. Successors
and Assigns. Whenever used herein, the words “undersigned”, “Borrower” and “Lender” shall be deemed to include their respective heirs, devisees, executors, administrators, personal representatives, successors and
assigns. 
 NOTICES TO BORROWER 
 DO NOT SIGN THIS NOTE BEFORE YOU READ IT. THIS NOTE PROVIDES FOR THE PAYMENT OF A FEE IF THIS NOTE IS PREPAID PRIOR TO THE DATE PROVIDED FOR REPAYMENT IN THIS NOTE AND OTHER CHARGES IF PAYMENTS ARE
LATE. IF YOU HAVE ANY QUESTIONS ABOUT THIS NOTE, YOU SHOULD CONSULT YOUR ATTORNEY. 
 ORS 41.580 Disclosure. UNDER OREGON
LAW, MOST AGREEMENTS, PROMISES AND COMMITMENTS BY LENDER, CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES, OR SECURED SOLELY BY THE BORROWER’S RESIDENCE MUST BE IN WRITING, EXPRESS
CONSIDERATION AND BE SIGNED BY AN AUTHORIZED REPRESENTATIVE OF LENDER TO BE ENFORCEABLE. 
 BORROWER: 

VITRAN NORTH DAKOTA, LLC, 
 a Delaware
limited liability company 
  

			
	By:	 	 /s/ CHRIS KEYLON

		 	CHRIS KEYLON
		 	Its: Authorized Manager

  
 Page 9

 SIC Loan No. B2110710 

NOTE 
  

			
	$420,000.00	  	December 19, 2012

 FOR VALUE RECEIVED, the undersigned, VITRAN NEVADA, LLC, a Delaware limited liability company
(“Borrower”), promises to pay in lawful money of the United States, to the order of STANDARD INSURANCE COMPANY, an Oregon corporation (together with any assigns, collectively, “Lender”), at its office in Hillsboro, Oregon,
or such other place as Lender may designate, the principal amount of a loan (“Loan”) of Four Hundred Twenty Thousand and No/100ths Dollars ($420,000.00), together with interest thereon, on the following agreements, terms and
conditions. 
 1. Payments. Borrower shall make monthly payments of principal and interest to Lender, in amounts
sufficient to fully amortize the principal balance of this Note over a fifteen (15) year amortization period in substantially equal monthly payments. Such monthly payments of principal and interest shall be in the initial amount of Three
Thousand Two Hundred Ninety-Five and No/100ths Dollars ($3,295.00) payable on the first day of each month, commencing with the first day of February, 2013, together with such other sums as may
become due hereunder or under any instrument securing this Note, until the entire indebtedness is fully paid, except that any remaining indebtedness if not sooner paid shall be finally due and payable on the first day of January,
2028, which is the maturity date of this Note (“Maturity Date”). The monthly payment amount will change after each Rate Adjustment Date (as defined in Paragraph 2) to an amount sufficient to repay the then unpaid principal balance of
this Note in full at the then current interest rate, in substantially equal monthly payments over the balance of the amortization period specified above. If applicable, until the payment is again changed, Borrower shall pay the new monthly payment
each month beginning on the first day of the first calendar month after the applicable Rate Adjustment Date. Lender will mail or deliver to Borrower a notice of any changes in the interest rate applicable to this Note, and any resulting changes in
the monthly payments required under this Note, prior to the date the first payment is due after the applicable Rate Adjustment Date. Every payment received with respect hereto shall be applied, in any order that may be determined by Lender in its
sole discretion, to sums under this Note, including, without limitation: (a) late charges; (b) expenses paid or funds advanced by Lender with interest thereon at the Default Rate when applicable (as hereinafter defined); (c) any
prepayment fees due with respect to any payment and any other fees which may remain unpaid; (d) accrued interest on the principal balance from time to time remaining unpaid; and (e) subject to the prepayment provisions herein, the
principal balance hereunder. 
 2. Interest. The interest rate applicable to this Note will change on the applicable Rate
Adjustment Dates. Interest shall be calculated on the basis of a 360-day year consisting of twelve 30-day months, except that interest due and payable for a period of less than a full month and/or any prepayment shall be calculated on an actual
accrual method. The initial interest rate included in the aforesaid payments, unless adjusted as otherwise provided in this Note, shall be calculated at the rate of Four and Seven-Eighths percent (4.875%) per annum (“Note
Rate”) upon the unpaid balance of principal of this Note. Borrower, jointly and severally, also promises 

  
 Page 1

 
to pay interest at the Note Rate from the date of disbursement of the Loan proceeds evidenced by this Note (“Disbursement Date”) to the date from which interest is included in the first
payment previously described. As used herein, “Rate Adjustment Date(s)” shall be as follows: 
  

	 	•	 	 59 months from the First Payment Date; 

  

	 	•	 	 119 months from the First Payment Date; 

  

	 	(a)	One hundred and twenty (120) days prior to each Rate Adjustment Date, Lender will notify Borrower in writing of the Adjusted Interest Rate that will become
effective in accordance with this Note. The “Adjusted Interest Rate” will be Lender’s then prevailing annual interest rate for similar loans then being originated by Lender with a similar term (equal to the period between the Rate
Adjustment Date and the earlier of the next Rate Adjustment Date or the Maturity Date) then being originated by Lender on properties comparable to the Property (as herein defined) as determined solely by Lender. 

 

	 	(a)	Borrower shall have thirty (30) days from the date of receipt of such notification from Lender to accept or reject the Adjusted Interest Rate. Failure by Borrower
to notify Lender of the acceptance or rejection of the Adjusted Interest Rate within such thirty (30) day period shall be deemed to be a rejection of the Adjusted Interest Rate. If the Adjusted Interest Rate is rejected by Borrower (or deemed
rejected), the entire unpaid principal balance of this Note, all accrued unpaid interest hereon, and any other amounts payable hereunder or under the other Loan Documents (as hereinafter defined) shall be due and payable in full, without a
Prepayment Fee, no later than the Rate Adjustment Date. 

  

	 	(b)	If Borrower accepts the Adjusted Interest Rate for the offered period, the Adjusted Interest Rate shall become effective on the Rate Adjustment Date and monthly
installments of principal and interest shall then be due and payable in an amount to be determined that will amortize the remaining unpaid principal balance of this Note at the Adjusted Interest Rate over the remaining amortization period. In such
case, Borrower shall also have the option to prepay a portion of the remaining unpaid principal balance of this Note as described in paragraph 3(e) below. 

  

	 	(c)	Thereafter, monthly installments of principal and interest on the unpaid principal balance of this Note, at the Adjusted Interest Rate, in the amount thus calculated,
shall be due and payable in consecutive monthly installments commencing on the first day of the calendar month after the Rate Adjustment Date and continuing on the first day of each calendar month thereafter, to and including the monthly installment
of principal and interest due and payable on the earlier of the next Rate Adjustment Date or the Maturity Date. 

3. Prepayment Restrictions; Fees. Borrower shall have the right to prepay, in full but not in part, the obligation
evidenced by this Note upon giving Lender (i) not less than thirty 

  
 Page 2

 
(30) days’ prior written notice of (a) Borrower’s intention to so prepay this Note, and (b) the date upon which such prepayment will be received by Lender (“Prepayment
Date”), and (ii) payment to Lender of the Prepayment Fee (as hereinafter defined), if any, then due to Lender as hereinafter provided. 
  

	 	(a)	As used herein, the term “Prepayment Fee” shall mean an amount which is the greater of 

 

	 	(i)	one percent (1%) of the outstanding principal balance of this Note at the time of prepayment, or 

 

	 	(ii)	the sum of 

  

	 	(A)	the Present Value (as hereinafter defined) of the scheduled monthly payments due under this Note from the Prepayment Date to the earlier of the next Rate Adjustment
Date or the Maturity Date. 

  

	 	(B)	the Present Value of the amount of principal and interest due under this Note on the earlier of the next Rate Adjustment Date or the Maturity Date (assuming all
scheduled monthly payments due prior to such dates were made when due), minus 

  

	 	(C)	the outstanding principal balance of this Note as of the Prepayment Date. 

 The “Present Values” described in (A) and (B) shall be computed on a monthly basis as of the Prepayment Date discounted at a rate equal to the yield-to-maturity of the U.S. Treasury
Note or Bond closest in maturity to the earlier of the next Rate Adjustment Date or the Maturity Date as reported in The Wall Street Journal (or, if The Wall Street Journal is no longer published, as reported in such other daily financial
publication of national circulation which shall be designated by Lender) on the fifth business day preceding the Prepayment Date. Borrower shall be obligated to prepay this Note on the Prepayment Date set forth in the written notice to Lender
required hereinabove, after such notice has been delivered to Lender. 
  

	 	(b)	Notwithstanding the foregoing or any other provision herein to the contrary, if Lender elects to apply insurance proceeds, condemnation awards, or any escrowed amounts,
if applicable, to the reduction of the outstanding principal balance of this Note in the manner provided in the Deed of Trust, no Prepayment Fee shall be due or payable as a result of such application and the monthly installments due and payable
hereunder shall be reduced accordingly. 

  
 Page 3

	 	(c)	In the event the Maturity Date is accelerated by Lender at any time due to a default by Borrower in the payment of principal and/or interest due under this Note or in
the performance of the terms, covenants or conditions contained in this Note, the Deed of Trust or any of the other Loan Documents (as hereinafter defined), then a tender of payment in an amount necessary to satisfy the entire outstanding principal
balance of this Note together with all accrued unpaid interest hereon made by Borrower, or by anyone on behalf of Borrower, at any time prior to, at, or as a result of, a foreclosure sale or sale pursuant to power of sale, shall constitute a
voluntary prepayment hereunder prior to the contracted Maturity Date of this Note thus requiring the payment to Lender of a Prepayment Fee equal to the applicable Prepayment Fee as set forth in paragraph (a) above; provided, however, that in
the event such Prepayment Fee is construed to be interest under the laws of the State of Oregon in any circumstance, such payment shall not be required to the extent that the amount thereof, together with other interest payable hereunder, exceeds
the maximum rate of interest that may be lawfully charged under applicable law. 

  

	 	(d)	Notwithstanding anything contained herein to the contrary, during the ninety (90) day period immediately preceding the Maturity Date of this Note, the entire
outstanding principal balance and all accrued unpaid interest on this Note may be prepaid in whole, but not in part, at par, without incurring a Prepayment Fee. 

 

	 	(e)	Notwithstanding anything contained herein to the contrary, if Borrower accepts the Adjusted Interest Rate as provided in paragraph 2 above, Borrower shall have the
right to prepay a portion of the unpaid principal balance of this Note prior to the Rate Adjustment Date, without a Prepayment Fee, provided the remaining principal balance of this Note after the prepayment may not be less than $150,000.00. Any
partial prepayment must be received by Lender no less than thirty (30) days prior to the Rate Adjustment Date. Any partial prepayment will be applied to pay down the principal balance of this Note upon Lender’s receipt of such prepayment.
The then remaining principal balance of this Note will then be used to calculate the new monthly payment amount as described in paragraph 2(d) above. 

 4. Waiver. To the extent permitted by law, each and every Borrower, surety, guarantor, endorser or signator to this Note and any other party now or hereafter liable for the payment of this Note, in
whatever capacity, whether in whole or in part hereby (a) waives notice of intent to demand, presentment for payment, notice of demand, demand, notice of nonpayment, protest, notice of protest, notice of dishonor, notice of intent to
accelerate, notice of acceleration, and all other notices, filing of suit, and diligence in collecting this Note and/or enforcing any of the security herefor; (b) agrees that Lender shall not be required first to institute suit or exhaust its
remedies against Borrower or others liable or to become liable hereon or against the Property (as hereinafter defined), it being understood that Lender may exercise its rights hereunder and pursue its remedies in any order and at any time it
desires, and may do so, without notice to or consent of any such person, and without in any way diminishing the obligations of any such 

  
 Page 4

 
person; (c) consents to Lender dealing with any such person with reference to this Note by way of forbearance, extension, modification, compromise or otherwise; (d) consents and agrees
to any and all extensions, releases, renewals, partial payments, surrenders, exchanges, substitutions of security herefor, compromises, discharges or modifications and any other indulgence with respect to any right or obligation secured by or
provided by the Deed of Trust, Mortgage, or Deed to Secure Debt, as the case may be, securing this Note (“Deed of Trust”) or any other instrument securing this Note, before or after the maturity of this Note, without notice thereof to any
of them; or (e) consents and agrees that Lender may take any other action which Lender may deem reasonably appropriate to protect its security interest in the property securing this Note (“Property”). Any such action(s) taken under
the preceding sentence may be taken against one, all, or some of such persons, and Lender may take any such action against one differently than another of such persons, in Lender’s sole discretion. 

5. Default; Default Rate. Time is material and of the essence hereof with respect to the payment of any sums of any nature by and
the performance of all duties or obligations of the Borrower. Each of the following shall be an Event of Default under this Note: (a) failure to make any payment of principal and/or interest or any other payment required by the provisions of
this Note or of any instrument securing this Note on the date such payment or payments are due; (b) failure to perform any other provision of this Note or of any instrument securing this Note; (c) falsity in any material respect of the
warranties in the Deed of Trust or of any representation, warranty or information furnished by Borrower or its agents to Lender in connection with the loan evidenced by this Note (“Loan”); or (d) failure to pay or perform under any
Other Loan Documents (as described and defined in the Deed of Trust). Upon the occurrence of any Event of Default, any sum not paid as provided in this Note or in any instrument securing this Note, shall, at the option of Lender, without notice,
bear interest from such due date at a rate of interest (“Default Rate”) equal to four (4) percentage points per annum greater than the Note Rate, or the maximum rate of interest permitted by law, whichever is the lesser, and, at the
option of Lender, the unpaid balance of principal, accrued interest, plus any other sums due under this Note, or under any instrument securing this Note shall at once become due and payable, without notice except as described in paragraph 12, and
shall bear interest at the Default Rate. If an Event of Default occurs during a period of time in which prepayment is permitted only on payment of a prepayment fee, such fee shall be computed as if the sum declared due on default were a prepayment
and shall be added to the sums due and payable hereunder. 
 6. Late Charges. If any payment is not received by Lender
(or by the correspondent if a correspondent has been designated by Lender to receive payments) within five (5) calendar days after its due date, Lender, at its option, may assess a late charge equal to five cents for each $1.00 of each overdue
payment or the maximum late charge permitted by the laws of the state in which the Property is located, whichever is less. Such late charge shall be due and payable on demand, and Lender, at its option, may (a) refuse to accept any late payment
or any subsequent payment unless accompanied by such late charge, (b) add such late charge to the principal balance of this Note or (c) treat the failure to pay such late charge as demanded as an Event of Default hereunder. If such late
charge is added to the principal balance of this Note, it 

  
 Page 5

 
shall bear interest at the Default Rate. The late charge is compensation for damages suffered by Lender and does not constitute interest. 

7. Acknowledgments Regarding Default Rate, Late Charges and Prepayment Charges. 

 

	 	(a)	Borrower acknowledges and agrees that (i) a default in making the payments herein agreed to be paid when due will result in the Lender incurring additional expense
in servicing the Loan, loss to Lender of the use of the money due, and frustration to Lender in meeting its other commitments, (ii) if for any reason it fails to pay any amounts due hereunder, Lender shall be entitled to damages for the
detriment caused thereby, but that it is extremely difficult and impractical to ascertain the extent of such damages, and (iii) the Default Rate and the late charge described in this Note are a reasonable estimate of such damages.

  

	 	(b)	Borrower acknowledges and agrees that (i) prepayment prior to the maturity date may result in loss to Lender, (ii) the amount of the loss will depend on the
interest rates at the time of prepayment, the amount of principal prepaid and the length of time remaining between the prepayment date and the scheduled maturity date, (iii) prepayment is most likely to occur when interest rates have dropped
below the Note Rate, and (iv) because it is extremely difficult and impractical to ascertain now the amount of loss Lender may suffer in the event of prepayment, (A) Lender shall be entitled to damages for the loss caused by prepayment and
(B) the prepayment fee described in this Note is a reasonable measure of such damages. Borrower agrees that the prepayment fee described in this Note shall be imposed, to the extent permitted by law, whether the prepayment is voluntary,
involuntary or by operation of law, in connection with an Event of Default, or required by Lender in connection with a transfer or contract to transfer the Property, provided that no prepayment fee shall be added to sums prepaid with casualty
insurance proceeds or condemnation awards. 

  

	 	(c)	Borrower expressly (i) waives any right to prepay the Loan without payment of the prepayment fee described above in connection with a transfer or contract to
transfer the Property by Borrower, or a successor in interest of the undersigned, and (ii) agrees to pay such prepayment fee as provided above in connection with such a transfer or contract to transfer. 

 

	 	(d)	Borrower represents that it is a knowledgeable real estate investor and fully understands the effect of the fees, charges, waivers and agreements contained above.
Borrower acknowledges and agrees that the making of the Loan by Lender at the interest rate and with the other terms described herein is sufficient consideration for such fees, charges, waiver and agreement, and that Lender would not make this Loan
on these terms without such fees, charges, waiver and agreement. 

  
 Page 6

 8. Expenses and Attorney Fees. If Lender refers this Note to an attorney for
collection or seeks legal advice following a default alleged in good faith under this Note; if Lender is the prevailing party in any litigation instituted in connection with this Note; or if Lender or any other person initiates any judicial or
nonjudicial action, suit or proceeding, including but not limited to a foreclosure sale, in connection with this Note or the security therefor, and an attorney is employed by Lender to (a) appear in any such action, suit or proceeding,
(b) reclaim, seek relief from a judicial or statutory stay, sequester, protect, preserve or enforce Lender’s interest in this Note, the Deed of Trust, or any other security for this Note (including but not limited to proceedings at
appellate levels, under federal bankruptcy law, in eminent domain, under probate proceedings, or in connection with any state or federal tax lien), or (c) assist Lender in any foreclosure sale, then, in any such event, Borrower shall pay
attorney’s fees and costs and expenses incurred by Lender and/or its attorney in connection with the above-mentioned events and any appeals or discretionary reviews related to such events, including but not limited to costs incurred in
searching records, the cost of title reports, the cost of appraisals, and the cost of surveyors’ reports. If not paid within ten days after such fees, costs and expenses become due and written demand for payment is made upon Borrower, such
amount may, at Lender’s option, be added to the principal of this Note and shall bear interest at the Default Rate. 
 9.
No Usury. In no event shall any payment of interest or any other sum payable hereunder both (a) violate the usury laws of the state in which the Property is located and (b) allow Borrower to bring a claim for usury or raise usury as
a defense in any action on this Note. If it is established that both (a) and (b) have occurred, and any payment exceeding lawful limits has been received, Lender shall refund such excess or, at its option, credit the excess amount to
principal, but such payments shall not affect the obligation to make periodic payments required herein. 
 10. Security.
The indebtedness evidenced by this Note is secured by the Deed of Trust, Mortgage, or Deed to Secure Debt, as applicable (“Deed of Trust”), of even date and may be secured by other security instruments. 

11. Due on Sale or Encumbrance. As provided in the Deed of Trust securing this Note, and subject to any exceptions provided
therein, transfers or encumbrances of the Property, or of ownership interests in Borrower, cause all sums evidenced by this Note and/or secured by the Deed of Trust or by any other Loan Document to become immediately due and payable. By signing this
Note, Borrower acknowledges that Borrower has received and reviewed a copy of the Deed of Trust and is familiar with the provisions restricting the transfer of the Property and the ownership interests therein and assumptions of the Loan. 

12. Notice and Opportunity to Cure. Notwithstanding any other provision of this Note, Lender shall not accelerate the sums
evidenced hereby because of a nonmonetary default (defined below) by Borrower unless Borrower fails to cure the default within fifteen (15) days of the earlier of the date on which Lender mails or delivers written notice of the default to
Borrower. For purposes of this Note, the term “nonmonetary default” means a failure by Borrower or any other person or entity to perform any obligation contained in this Note or any other document or instrument evidencing or securing the
Loan (collectively, “Loan 

  
 Page 7

 
Documents”), other than the obligation to make payments provided for in this Note or any other Loan Document. If a nonmonetary default is capable of being cured and the cure cannot
reasonably be completed within the fifteen (15) day cure period, the cure period shall be extended up to sixty (60) days so long as Borrower has commenced action to cure within the fifteen (15) day cure period, and in Lender’s
opinion, Borrower is proceeding to cure the default with due diligence. No notice of default and no opportunity to cure shall be required if during any 12-month period Lender has already sent a notice to Borrower concerning default in the
performance of the same obligation. None of the foregoing shall be construed to obligate Lender to forebear in any other manner from exercising its remedies and Lender may pursue any other rights or remedies which Lender may have because of a
default. 
 13. Commercial Purpose. The obligation evidenced by this Note is exclusively for commercial or business
purposes. 
 14. Notices. All notices required or permitted under this Note shall be in writing and may be
telecopies, cabled, delivered by hand, or mailed by first class registered or certified mail, return receipt requested, postage prepaid, and addressed as follows: 
 If to Lender: 
 STANDARD INSURANCE COMPANY 

c/o StanCorp Mortgage Investors, LLC 
 Attn: Mortgage Loan Servicing T3A 
 19225 NW Tanasbourne Drive

 Hillsboro, OR 97124 
 If to Borrower: 
 VITRAN NEVADA, LLC 

Attn: Chris Keylon 
 P.O. Box 1290 (for U.S.P.S. mail delivery) 
 2850 Kramer Road (for
courier or other delivery) 
 Gibsonia, PA 15044 

Changes in the respective addresses to which such notices shall be directed may be from time to time by either party by notice to the
other party given at least ten (10) days before such change of address is to become effective. Notices given by mail in accordance with this provision shall be deemed to have been given three (3) days after the date of dispatch; notices
given by any other means shall be deemed to have been given when received. 
 15. Choice of Law, Jurisdiction and Venue;
Enforceability; Severability. Except for matters relating to the validity and/or enforcement of the security interest of Lender in the Property, which shall be determined in accordance with the applicable laws of the state in which the affected
Property is situated, the law of the state of Oregon shall govern the validity, interpretation, construction, performance and enforcement of this Note and any and all other 

  
 Page 8

 
Loan Documents. If, for any reason or to any extent any word, term, provision, or clause of this Note or any of the other Loan Documents, or its application to any person or situation, shall be
found by a court or other adjudicating authority to be invalid or unenforceable, the remaining words, terms, provisions, or clauses shall be enforced, and the affected work, term, clause, or provision shall be applied, to the fullest extent
permitted by law. Borrower irrevocably submits to the jurisdiction of Multnomah County state or Portland, Oregon federal court in any action or proceeding brought to enforce or otherwise arising out of or relating to this Note or any of the
other Loan Documents, and waives any claim that such forum is inappropriate and/or an inconvenient forum. 
 16. Successors
and Assigns. Whenever used herein, the words “undersigned”, “Borrower” and “Lender” shall be deemed to include their respective heirs, devisees, executors, administrators, personal representatives, successors and
assigns. 
 NOTICES TO BORROWER 
 DO NOT SIGN THIS NOTE BEFORE YOU READ IT. THIS NOTE PROVIDES FOR THE PAYMENT OF A FEE IF THIS NOTE IS PREPAID PRIOR TO THE DATE PROVIDED FOR REPAYMENT IN THIS NOTE AND OTHER CHARGES IF PAYMENTS ARE
LATE. IF YOU HAVE ANY QUESTIONS ABOUT THIS NOTE, YOU SHOULD CONSULT YOUR ATTORNEY. 
 ORS 41.580 Disclosure. UNDER OREGON
LAW, MOST AGREEMENTS, PROMISES AND COMMITMENTS BY LENDER, CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES, OR SECURED SOLELY BY THE BORROWER’S RESIDENCE MUST BE IN WRITING, EXPRESS
CONSIDERATION AND BE SIGNED BY AN AUTHORIZED REPRESENTATIVE OF LENDER TO BE ENFORCEABLE. 
 BORROWER: 

VITRAN NEVADA, LLC, 
 a Delaware limited
liability company 
  

			
	By:	 	 /s/ CHRIS KEYLON

		 	CHRIS KEYLON
		 	Its: Authorized Manager

  
 Page 9

 SIC Loan No. B2110707 

NOTE 
  

			
	$1,380,000.00	  	December 19, 2012

 FOR VALUE
RECEIVED, the undersigned, VITRAN CINCINNATI, LLC, a Delaware limited liability company (“Borrower”), promises to pay in lawful money of the United States, to the order of STANDARD INSURANCE COMPANY, an Oregon corporation
(together with any assigns, collectively, “Lender”), at its office in Hillsboro, Oregon, or such other place as Lender may designate, the principal amount of a loan (“Loan”) of One Million Three Hundred Eighty Thousand and
No/100ths Dollars ($1,380,000.00), together with interest thereon, on the following agreements, terms and conditions. 
 1. Payments. Borrower shall make monthly payments of principal and interest to Lender, in amounts sufficient to fully amortize the principal balance of this Note over a fifteen (15) year
amortization period in substantially equal monthly payments. Such monthly payments of principal and interest shall be in the initial amount of Ten Thousand Eight Hundred Twenty-Four and No/100ths Dollars ($10,824.00)
payable on the first day of each month, commencing with the first day of February, 2013, together with such other sums as may become due hereunder or under any instrument securing this Note, until the entire indebtedness is fully paid,
except that any remaining indebtedness if not sooner paid shall be finally due and payable on the first day of January, 2028, which is the maturity date of this Note (“Maturity Date”). The monthly payment amount
will change after each Rate Adjustment Date (as defined in Paragraph 2) to an amount sufficient to repay the then unpaid principal balance of this Note in full at the then current interest rate, in substantially equal monthly payments over the
balance of the amortization period specified above. If applicable, until the payment is again changed, Borrower shall pay the new monthly payment each month beginning on the first day of the first calendar month after the applicable Rate Adjustment
Date. Lender will mail or deliver to Borrower a notice of any changes in the interest rate applicable to this Note, and any resulting changes in the monthly payments required under this Note, prior to the date the first payment is due after the
applicable Rate Adjustment Date. Every payment received with respect hereto shall be applied, in any order that may be determined by Lender in its sole discretion, to sums under this Note, including, without limitation: (a) late charges;
(b) expenses paid or funds advanced by Lender with interest thereon at the Default Rate when applicable (as hereinafter defined); (c) any prepayment fees due with respect to any payment and any other fees which may remain unpaid;
(d) accrued interest on the principal balance from time to time remaining unpaid; and (e) subject to the prepayment provisions herein, the principal balance hereunder. 

2. Interest. The interest rate applicable to this Note will change on the applicable Rate Adjustment Dates. Interest shall be
calculated on the basis of a 360-day year consisting of twelve 30-day months, except that interest due and payable for a period of less than a full month and/or any prepayment shall be calculated on an actual accrual method. The initial interest
rate included in the aforesaid payments, unless adjusted as otherwise provided in this Note, shall be calculated at the rate of Four and Seven-Eighths percent (4.875%) per annum (“Note Rate”) upon the unpaid balance of
principal of this Note. Borrower, jointly and severally, also promises 

  
 Page 1

 
to pay interest at the Note Rate from the date of disbursement of the Loan proceeds evidenced by this Note (“Disbursement Date”) to the date from which interest is included in the first
payment previously described. As used herein, “Rate Adjustment Date(s)” shall be as follows: 
  

	 	•	 	 59 months from the First Payment Date; 

  

	 	•	 	 119 months from the First Payment Date; 

  

	 	(a)	One hundred and twenty (120) days prior to each Rate Adjustment Date, Lender will notify Borrower in writing of the Adjusted Interest Rate that will become
effective in accordance with this Note. The “Adjusted Interest Rate” will be Lender’s then prevailing annual interest rate for similar loans then being originated by Lender with a similar term (equal to the period between the Rate
Adjustment Date and the earlier of the next Rate Adjustment Date or the Maturity Date) then being originated by Lender on properties comparable to the Property (as herein defined) as determined solely by Lender. 

 

	 	(a)	Borrower shall have thirty (30) days from the date of receipt of such notification from Lender to accept or reject the Adjusted Interest Rate. Failure by Borrower
to notify Lender of the acceptance or rejection of the Adjusted Interest Rate within such thirty (30) day period shall be deemed to be a rejection of the Adjusted Interest Rate. If the Adjusted Interest Rate is rejected by Borrower (or deemed
rejected), the entire unpaid principal balance of this Note, all accrued unpaid interest hereon, and any other amounts payable hereunder or under the other Loan Documents (as hereinafter defined) shall be due and payable in full, without a
Prepayment Fee, no later than the Rate Adjustment Date. 

  

	 	(b)	If Borrower accepts the Adjusted Interest Rate for the offered period, the Adjusted Interest Rate shall become effective on the Rate Adjustment Date and monthly
installments of principal and interest shall then be due and payable in an amount to be determined that will amortize the remaining unpaid principal balance of this Note at the Adjusted Interest Rate over the remaining amortization period. In such
case, Borrower shall also have the option to prepay a portion of the remaining unpaid principal balance of this Note as described in paragraph 3(e) below. 

  

	 	(c)	Thereafter, monthly installments of principal and interest on the unpaid principal balance of this Note, at the Adjusted Interest Rate, in the amount thus calculated,
shall be due and payable in consecutive monthly installments commencing on the first day of the calendar month after the Rate Adjustment Date and continuing on the first day of each calendar month thereafter, to and including the monthly installment
of principal and interest due and payable on the earlier of the next Rate Adjustment Date or the Maturity Date. 

3. Prepayment Restrictions; Fees. Borrower shall have the right to prepay, in full but not in part, the obligation
evidenced by this Note upon giving Lender (i) not less than thirty 

  
 Page 2

 
(30) days’ prior written notice of (a) Borrower’s intention to so prepay this Note, and (b) the date upon which such prepayment will be received by Lender (“Prepayment
Date”), and (ii) payment to Lender of the Prepayment Fee (as hereinafter defined), if any, then due to Lender as hereinafter provided. 
  

	 	(a)	As used herein, the term “Prepayment Fee” shall mean an amount which is the greater of 

 

	 	(i)	one percent (1%) of the outstanding principal balance of this Note at the time of prepayment, or 

 

	 	(ii)	the sum of 

  

	 	(A)	the Present Value (as hereinafter defined) of the scheduled monthly payments due under this Note from the Prepayment Date to the earlier of the next Rate Adjustment
Date or the Maturity Date. 

  

	 	(B)	the Present Value of the amount of principal and interest due under this Note on the earlier of the next Rate Adjustment Date or the Maturity Date (assuming all
scheduled monthly payments due prior to such dates were made when due), minus 

  

	 	(C)	the outstanding principal balance of this Note as of the Prepayment Date. 

 The “Present Values” described in (A) and (B) shall be computed on a monthly basis as of the Prepayment Date discounted at a rate equal to the yield-to-maturity of the U.S. Treasury
Note or Bond closest in maturity to the earlier of the next Rate Adjustment Date or the Maturity Date as reported in The Wall Street Journal (or, if The Wall Street Journal is no longer published, as reported in such other daily financial
publication of national circulation which shall be designated by Lender) on the fifth business day preceding the Prepayment Date. Borrower shall be obligated to prepay this Note on the Prepayment Date set forth in the written notice to Lender
required hereinabove, after such notice has been delivered to Lender. 
  

	 	(b)	Notwithstanding the foregoing or any other provision herein to the contrary, if Lender elects to apply insurance proceeds, condemnation awards, or any escrowed amounts,
if applicable, to the reduction of the outstanding principal balance of this Note in the manner provided in the Deed of Trust, no Prepayment Fee shall be due or payable as a result of such application and the monthly installments due and payable
hereunder shall be reduced accordingly. 

  
 Page 3

	 	(c)	In the event the Maturity Date is accelerated by Lender at any time due to a default by Borrower in the payment of principal and/or interest due under this Note or in
the performance of the terms, covenants or conditions contained in this Note, the Deed of Trust or any of the other Loan Documents (as hereinafter defined), then a tender of payment in an amount necessary to satisfy the entire outstanding principal
balance of this Note together with all accrued unpaid interest hereon made by Borrower, or by anyone on behalf of Borrower, at any time prior to, at, or as a result of, a foreclosure sale or sale pursuant to power of sale, shall constitute a
voluntary prepayment hereunder prior to the contracted Maturity Date of this Note thus requiring the payment to Lender of a Prepayment Fee equal to the applicable Prepayment Fee as set forth in paragraph (a) above; provided, however, that in
the event such Prepayment Fee is construed to be interest under the laws of the State of Oregon in any circumstance, such payment shall not be required to the extent that the amount thereof, together with other interest payable hereunder, exceeds
the maximum rate of interest that may be lawfully charged under applicable law. 

  

	 	(d)	Notwithstanding anything contained herein to the contrary, during the ninety (90) day period immediately preceding the Maturity Date of this Note, the entire
outstanding principal balance and all accrued unpaid interest on this Note may be prepaid in whole, but not in part, at par, without incurring a Prepayment Fee. 

 

	 	(e)	Notwithstanding anything contained herein to the contrary, if Borrower accepts the Adjusted Interest Rate as provided in paragraph 2 above, Borrower shall have the
right to prepay a portion of the unpaid principal balance of this Note prior to the Rate Adjustment Date, without a Prepayment Fee, provided the remaining principal balance of this Note after the prepayment may not be less than $150,000.00. Any
partial prepayment must be received by Lender no less than thirty (30) days prior to the Rate Adjustment Date. Any partial prepayment will be applied to pay down the principal balance of this Note upon Lender’s receipt of such prepayment.
The then remaining principal balance of this Note will then be used to calculate the new monthly payment amount as described in paragraph 2(d) above. 

 4. Waiver. To the extent permitted by law, each and every Borrower, surety, guarantor, endorser or signator to this Note and any other party now or hereafter liable for the payment of this Note, in
whatever capacity, whether in whole or in part hereby (a) waives notice of intent to demand, presentment for payment, notice of demand, demand, notice of nonpayment, protest, notice of protest, notice of dishonor, notice of intent to
accelerate, notice of acceleration, and all other notices, filing of suit, and diligence in collecting this Note and/or enforcing any of the security herefor; (b) agrees that Lender shall not be required first to institute suit or exhaust its
remedies against Borrower or others liable or to become liable hereon or against the Property (as hereinafter defined), it being understood that Lender may exercise its rights hereunder and pursue its remedies in any order and at any time it
desires, and may do so, without notice to or consent of any such person, and without in any way diminishing the obligations of any such 

  
 Page 4

 
person; (c) consents to Lender dealing with any such person with reference to this Note by way of forbearance, extension, modification, compromise or otherwise; (d) consents and agrees
to any and all extensions, releases, renewals, partial payments, surrenders, exchanges, substitutions of security herefor, compromises, discharges or modifications and any other indulgence with respect to any right or obligation secured by or
provided by the Deed of Trust, Mortgage, or Deed to Secure Debt, as the case may be, securing this Note (“Deed of Trust”) or any other instrument securing this Note, before or after the maturity of this Note, without notice thereof to any
of them; or (e) consents and agrees that Lender may take any other action which Lender may deem reasonably appropriate to protect its security interest in the property securing this Note (“Property”). Any such action(s) taken under
the preceding sentence may be taken against one, all, or some of such persons, and Lender may take any such action against one differently than another of such persons, in Lender’s sole discretion. 

5. Default; Default Rate. Time is material and of the essence hereof with respect to the payment of any sums of any nature by and
the performance of all duties or obligations of the Borrower. Each of the following shall be an Event of Default under this Note: (a) failure to make any payment of principal and/or interest or any other payment required by the provisions of
this Note or of any instrument securing this Note on the date such payment or payments are due; (b) failure to perform any other provision of this Note or of any instrument securing this Note; (c) falsity in any material respect of the
warranties in the Deed of Trust or of any representation, warranty or information furnished by Borrower or its agents to Lender in connection with the loan evidenced by this Note (“Loan”); or (d) failure to pay or perform under any
Other Loan Documents (as described and defined in the Deed of Trust). Upon the occurrence of any Event of Default, any sum not paid as provided in this Note or in any instrument securing this Note, shall, at the option of Lender, without notice,
bear interest from such due date at a rate of interest (“Default Rate”) equal to four (4) percentage points per annum greater than the Note Rate, or the maximum rate of interest permitted by law, whichever is the lesser, and, at the
option of Lender, the unpaid balance of principal, accrued interest, plus any other sums due under this Note, or under any instrument securing this Note shall at once become due and payable, without notice except as described in paragraph 12, and
shall bear interest at the Default Rate. If an Event of Default occurs during a period of time in which prepayment is permitted only on payment of a prepayment fee, such fee shall be computed as if the sum declared due on default were a prepayment
and shall be added to the sums due and payable hereunder. 
 6. Late Charges. If any payment is not received by Lender
(or by the correspondent if a correspondent has been designated by Lender to receive payments) within five (5) calendar days after its due date, Lender, at its option, may assess a late charge equal to five cents for each $1.00 of each overdue
payment or the maximum late charge permitted by the laws of the state in which the Property is located, whichever is less. Such late charge shall be due and payable on demand, and Lender, at its option, may (a) refuse to accept any late payment
or any subsequent payment unless accompanied by such late charge, (b) add such late charge to the principal balance of this Note or (c) treat the failure to pay such late charge as demanded as an Event of Default hereunder. If such late
charge is added to the principal balance of this Note, it 

  
 Page 5

 
shall bear interest at the Default Rate. The late charge is compensation for damages suffered by Lender and does not constitute interest. 

7. Acknowledgments Regarding Default Rate, Late Charges and Prepayment Charges. 

 

	 	(a)	Borrower acknowledges and agrees that (i) a default in making the payments herein agreed to be paid when due will result in the Lender incurring additional expense
in servicing the Loan, loss to Lender of the use of the money due, and frustration to Lender in meeting its other commitments, (ii) if for any reason it fails to pay any amounts due hereunder, Lender shall be entitled to damages for the
detriment caused thereby, but that it is extremely difficult and impractical to ascertain the extent of such damages, and (iii) the Default Rate and the late charge described in this Note are a reasonable estimate of such damages.

  

	 	(b)	Borrower acknowledges and agrees that (i) prepayment prior to the maturity date may result in loss to Lender, (ii) the amount of the loss will depend on the
interest rates at the time of prepayment, the amount of principal prepaid and the length of time remaining between the prepayment date and the scheduled maturity date, (iii) prepayment is most likely to occur when interest rates have dropped
below the Note Rate, and (iv) because it is extremely difficult and impractical to ascertain now the amount of loss Lender may suffer in the event of prepayment, (A) Lender shall be entitled to damages for the loss caused by prepayment and
(B) the prepayment fee described in this Note is a reasonable measure of such damages. Borrower agrees that the prepayment fee described in this Note shall be imposed, to the extent permitted by law, whether the prepayment is voluntary,
involuntary or by operation of law, in connection with an Event of Default, or required by Lender in connection with a transfer or contract to transfer the Property, provided that no prepayment fee shall be added to sums prepaid with casualty
insurance proceeds or condemnation awards. 

  

	 	(c)	Borrower expressly (i) waives any right to prepay the Loan without payment of the prepayment fee described above in connection with a transfer or contract to
transfer the Property by Borrower, or a successor in interest of the undersigned, and (ii) agrees to pay such prepayment fee as provided above in connection with such a transfer or contract to transfer. 

 

	 	(d)	Borrower represents that it is a knowledgeable real estate investor and fully understands the effect of the fees, charges, waivers and agreements contained above.
Borrower acknowledges and agrees that the making of the Loan by Lender at the interest rate and with the other terms described herein is sufficient consideration for such fees, charges, waiver and agreement, and that Lender would not make this Loan
on these terms without such fees, charges, waiver and agreement. 

  
 Page 6

 8. Expenses and Attorney Fees. If Lender refers this Note to an attorney for
collection or seeks legal advice following a default alleged in good faith under this Note; if Lender is the prevailing party in any litigation instituted in connection with this Note; or if Lender or any other person initiates any judicial or
nonjudicial action, suit or proceeding, including but not limited to a foreclosure sale, in connection with this Note or the security therefor, and an attorney is employed by Lender to (a) appear in any such action, suit or proceeding,
(b) reclaim, seek relief from a judicial or statutory stay, sequester, protect, preserve or enforce Lender’s interest in this Note, the Deed of Trust, or any other security for this Note (including but not limited to proceedings at
appellate levels, under federal bankruptcy law, in eminent domain, under probate proceedings, or in connection with any state or federal tax lien), or (c) assist Lender in any foreclosure sale, then, in any such event, Borrower shall pay
attorney’s fees and costs and expenses incurred by Lender and/or its attorney in connection with the above-mentioned events and any appeals or discretionary reviews related to such events, including but not limited to costs incurred in
searching records, the cost of title reports, the cost of appraisals, and the cost of surveyors’ reports. If not paid within ten days after such fees, costs and expenses become due and written demand for payment is made upon Borrower, such
amount may, at Lender’s option, be added to the principal of this Note and shall bear interest at the Default Rate. 
 9.
No Usury. In no event shall any payment of interest or any other sum payable hereunder both (a) violate the usury laws of the state in which the Property is located and (b) allow Borrower to bring a claim for usury or raise usury as
a defense in any action on this Note. If it is established that both (a) and (b) have occurred, and any payment exceeding lawful limits has been received, Lender shall refund such excess or, at its option, credit the excess amount to
principal, but such payments shall not affect the obligation to make periodic payments required herein. 
 10. Security.
The indebtedness evidenced by this Note is secured by the Deed of Trust, Mortgage, or Deed to Secure Debt, as applicable (“Deed of Trust”), of even date and may be secured by other security instruments. 

11. Due on Sale or Encumbrance. As provided in the Deed of Trust securing this Note, and subject to any exceptions provided
therein, transfers or encumbrances of the Property, or of ownership interests in Borrower, cause all sums evidenced by this Note and/or secured by the Deed of Trust or by any other Loan Document to become immediately due and payable. By signing this
Note, Borrower acknowledges that Borrower has received and reviewed a copy of the Deed of Trust and is familiar with the provisions restricting the transfer of the Property and the ownership interests therein and assumptions of the Loan. 

12. Notice and Opportunity to Cure. Notwithstanding any other provision of this Note, Lender shall not accelerate the sums
evidenced hereby because of a nonmonetary default (defined below) by Borrower unless Borrower fails to cure the default within fifteen (15) days of the earlier of the date on which Lender mails or delivers written notice of the default to
Borrower. For purposes of this Note, the term “nonmonetary default” means a failure by Borrower or any other person or entity to perform any obligation contained in this Note or any other document or instrument evidencing or securing the
Loan (collectively, “Loan 

  
 Page 7

 
Documents”), other than the obligation to make payments provided for in this Note or any other Loan Document. If a nonmonetary default is capable of being cured and the cure cannot
reasonably be completed within the fifteen (15) day cure period, the cure period shall be extended up to sixty (60) days so long as Borrower has commenced action to cure within the fifteen (15) day cure period, and in Lender’s
opinion, Borrower is proceeding to cure the default with due diligence. No notice of default and no opportunity to cure shall be required if during any 12-month period Lender has already sent a notice to Borrower concerning default in the
performance of the same obligation. None of the foregoing shall be construed to obligate Lender to forebear in any other manner from exercising its remedies and Lender may pursue any other rights or remedies which Lender may have because of a
default. 
 13. Commercial Purpose. The obligation evidenced by this Note is exclusively for commercial or business
purposes. 
 14. Notices. All notices required or permitted under this Note shall be in writing and may be
telecopies, cabled, delivered by hand, or mailed by first class registered or certified mail, return receipt requested, postage prepaid, and addressed as follows: 
 If to Lender: 
 STANDARD INSURANCE COMPANY 

c/o StanCorp Mortgage Investors, LLC 
 Attn: Mortgage Loan Servicing T3A 
 19225 NW Tanasbourne Drive

 Hillsboro, OR 97124 
 If to Borrower: 
 VITRAN CINCINNATI, LLC 

Attn: Chris Keylon 
 P.O. Box 1290 (for U.S.P.S. mail delivery) 
 2850 Kramer Road (for
courier or other delivery) 
 Gibsonia, PA 15044 

Changes in the respective addresses to which such notices shall be directed may be from time to time by either party by notice to the
other party given at least ten (10) days before such change of address is to become effective. Notices given by mail in accordance with this provision shall be deemed to have been given three (3) days after the date of dispatch; notices
given by any other means shall be deemed to have been given when received. 
 15. Choice of Law, Jurisdiction and Venue;
Enforceability; Severability. Except for matters relating to the validity and/or enforcement of the security interest of Lender in the Property, which shall be determined in accordance with the applicable laws of the state in which the affected
Property is situated, the law of the state of Oregon shall govern the validity, interpretation, construction, performance and enforcement of this Note and any and all other 

  
 Page 8

 
Loan Documents. If, for any reason or to any extent any word, term, provision, or clause of this Note or any of the other Loan Documents, or its application to any person or situation, shall be
found by a court or other adjudicating authority to be invalid or unenforceable, the remaining words, terms, provisions, or clauses shall be enforced, and the affected work, term, clause, or provision shall be applied, to the fullest extent
permitted by law. Borrower irrevocably submits to the jurisdiction of Multnomah County state or Portland, Oregon federal court in any action or proceeding brought to enforce or otherwise arising out of or relating to this Note or any of the
other Loan Documents, and waives any claim that such forum is inappropriate and/or an inconvenient forum. 
 16. Successors
and Assigns. Whenever used herein, the words “undersigned”, “Borrower” and “Lender” shall be deemed to include their respective heirs, devisees, executors, administrators, personal representatives, successors and
assigns. 
 NOTICES TO BORROWER 
 DO NOT SIGN THIS NOTE BEFORE YOU READ IT. THIS NOTE PROVIDES FOR THE PAYMENT OF A FEE IF THIS NOTE IS PREPAID PRIOR TO THE DATE PROVIDED FOR REPAYMENT IN THIS NOTE AND OTHER CHARGES IF PAYMENTS ARE
LATE. IF YOU HAVE ANY QUESTIONS ABOUT THIS NOTE, YOU SHOULD CONSULT YOUR ATTORNEY. 
 ORS 41.580 Disclosure. UNDER OREGON
LAW, MOST AGREEMENTS, PROMISES AND COMMITMENTS BY LENDER, CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES, OR SECURED SOLELY BY THE BORROWER’S RESIDENCE MUST BE IN WRITING, EXPRESS
CONSIDERATION AND BE SIGNED BY AN AUTHORIZED REPRESENTATIVE OF LENDER TO BE ENFORCEABLE. 
 BORROWER: 

VITRAN CINCINNATI, LLC, 
 a Delaware
limited liability company 
  

			
	By:	 	 /s/ CHRIS KEYLON

		 	CHRIS KEYLON
		 	Its: Authorized Manager

  
 Page 9

 SIC Loan No. B2110715 

NOTE 
  

			
	$1,240,000.00	  	January 15, 2013

 FOR VALUE
RECEIVED, the undersigned, VITRAN OHIO, LLC, a Delaware limited liability company (“Borrower”), promises to pay in lawful money of the United States, to the order of STANDARD INSURANCE COMPANY, an Oregon corporation (together
with any assigns, collectively, “Lender”), at its office in Hillsboro, Oregon, or such other place as Lender may designate, the principal amount of a loan (“Loan”) of One Million Two Hundred Forty Thousand and No/100ths
Dollars ($1,240,000.00), together with interest thereon, on the following agreements, terms and conditions. 
 1.
Payments. Borrower shall make monthly payments of principal and interest to Lender, in amounts sufficient to fully amortize the principal balance of this Note over a fifteen (15) year amortization period in substantially equal monthly
payments. Such monthly payments of principal and interest shall be in the initial amount of Nine Thousand Five Hundred Sixty-Six and No/100ths Dollars ($9,566.00) payable on the first day of each month, commencing with
the first day of March, 2013, together with such other sums as may become due hereunder or under any instrument securing this Note, until the entire indebtedness is fully paid, except that any remaining indebtedness if not
sooner paid shall be finally due and payable on the first day of February, 2028, which is the maturity date of this Note (“Maturity Date”). The monthly payment amount will change after each Rate Adjustment Date (as defined in
Paragraph 2) to an amount sufficient to repay the then unpaid principal balance of this Note in full at the then current interest rate, in substantially equal monthly payments over the balance of the amortization period specified above. If
applicable, until the payment is again changed, Borrower shall pay the new monthly payment each month beginning on the first day of the first calendar month after the applicable Rate Adjustment Date. Lender will mail or deliver to Borrower a notice
of any changes in the interest rate applicable to this Note, and any resulting changes in the monthly payments required under this Note, prior to the date the first payment is due after the applicable Rate Adjustment Date. Every payment received
with respect hereto shall be applied, in any order that may be determined by Lender in its sole discretion, to sums under this Note, including, without limitation: (a) late charges; (b) expenses paid or funds advanced by Lender with
interest thereon at the Default Rate when applicable (as hereinafter defined); (c) any prepayment fees due with respect to any payment and any other fees which may remain unpaid; (d) accrued interest on the principal balance from time to
time remaining unpaid; and (e) subject to the prepayment provisions herein, the principal balance hereunder. 
 2.
Interest. The interest rate applicable to this Note will change on the applicable Rate Adjustment Dates. Interest shall be calculated on the basis of a 360-day year consisting of twelve 30-day months, except that interest due and payable for
a period of less than a full month and/or any prepayment shall be calculated on an actual accrual method. The initial interest rate included in the aforesaid payments, unless adjusted as otherwise provided in this Note, shall be calculated at the
rate of Four and Five-Eighths percent (4.625%) per annum (“Note Rate”) upon the unpaid balance of principal of this Note. Borrower, jointly and severally, also promises

  
 Page 1

 
to pay interest at the Note Rate from the date of disbursement of the Loan proceeds evidenced by this Note (“Disbursement Date”) to the date from which interest is included in the first
payment previously described. As used herein, “Rate Adjustment Date(s)” shall be as follows: 
  

	 	•	 	 35 months from the First Payment Date; 

  

	 	•	 	 71 months from the First Payment Date; 

  

	 	•	 	 107 months from the First Payment Date; 

  

	 	•	 	 143 months from the First Payment Date. 

  

	 	(a)	One hundred and twenty (120) days prior to each Rate Adjustment Date, Lender will notify Borrower in writing of the Adjusted Interest Rate that will become
effective in accordance with this Note. The “Adjusted Interest Rate” will be Lender’s then prevailing annual interest rate for similar loans then being originated by Lender with a similar term (equal to the period between the Rate
Adjustment Date and the earlier of the next Rate Adjustment Date or the Maturity Date) then being originated by Lender on properties comparable to the Property (as herein defined) as determined solely by Lender. 

 

	 	(a)	Borrower shall have thirty (30) days from the date of receipt of such notification from Lender to accept or reject the Adjusted Interest Rate. Failure by Borrower
to notify Lender of the acceptance or rejection of the Adjusted Interest Rate within such thirty (30) day period shall be deemed to be a rejection of the Adjusted Interest Rate. If the Adjusted Interest Rate is rejected by Borrower (or deemed
rejected), the entire unpaid principal balance of this Note, all accrued unpaid interest hereon, and any other amounts payable hereunder or under the other Loan Documents (as hereinafter defined) shall be due and payable in full, without a
Prepayment Fee, no later than the Rate Adjustment Date. 

  

	 	(b)	If Borrower accepts the Adjusted Interest Rate for the offered period, the Adjusted Interest Rate shall become effective on the Rate Adjustment Date and monthly
installments of principal and interest shall then be due and payable in an amount to be determined that will amortize the remaining unpaid principal balance of this Note at the Adjusted Interest Rate over the remaining amortization period. In such
case, Borrower shall also have the option to prepay a portion of the remaining unpaid principal balance of this Note as described in paragraph 3(e) below. 

  

	 	(c)	Thereafter, monthly installments of principal and interest on the unpaid principal balance of this Note, at the Adjusted Interest Rate, in the amount thus calculated,
shall be due and payable in consecutive monthly installments commencing on the first day of the calendar month after the Rate Adjustment Date and continuing on the first day of each calendar month thereafter, to and including the monthly installment
of principal and interest due and payable on the earlier of the next Rate Adjustment Date or the Maturity Date. 

  
 Page 2

 3. Prepayment Restrictions; Fees. Borrower shall have the right to
prepay, in full but not in part, the obligation evidenced by this Note upon giving Lender (i) not less than thirty (30) days’ prior written notice of (a) Borrower’s intention to so prepay this Note, and (b) the date
upon which such prepayment will be received by Lender (“Prepayment Date”), and (ii) payment to Lender of the Prepayment Fee (as hereinafter defined), if any, then due to Lender as hereinafter provided. 

 

	 	(a)	As used herein, the term “Prepayment Fee” shall mean an amount which is the greater of 

 

	 	(i)	one percent (1%) of the outstanding principal balance of this Note at the time of prepayment, or 

 

	 	(ii)	the sum of 

  

	 	(A)	the Present Value (as hereinafter defined) of the scheduled monthly payments due under this Note from the Prepayment Date to the earlier of the next Rate Adjustment
Date or the Maturity Date. 

  

	 	(B)	the Present Value of the amount of principal and interest due under this Note on the earlier of the next Rate Adjustment Date or the Maturity Date (assuming all
scheduled monthly payments due prior to such dates were made when due), minus 

  

	 	(C)	the outstanding principal balance of this Note as of the Prepayment Date. 

 The “Present Values” described in (A) and (B) shall be computed on a monthly basis as of the Prepayment Date discounted at a rate equal to the yield-to-maturity of the U.S. Treasury
Note or Bond closest in maturity to the earlier of the next Rate Adjustment Date or the Maturity Date as reported in The Wall Street Journal (or, if The Wall Street Journal is no longer published, as reported in such other daily financial
publication of national circulation which shall be designated by Lender) on the fifth business day preceding the Prepayment Date. Borrower shall be obligated to prepay this Note on the Prepayment Date set forth in the written notice to Lender
required hereinabove, after such notice has been delivered to Lender. 
  

	 	(b)	Notwithstanding the foregoing or any other provision herein to the contrary, if Lender elects to apply insurance proceeds, condemnation awards, or any escrowed amounts,
if applicable, to the reduction of the outstanding principal balance of this Note in the manner provided in the Deed of Trust, no Prepayment Fee shall be due or payable as a result of such application and the monthly installments due and payable
hereunder shall be reduced accordingly. 

  
 Page 3

	 	(c)	In the event the Maturity Date is accelerated by Lender at any time due to a default by Borrower in the payment of principal and/or interest due under this Note or in
the performance of the terms, covenants or conditions contained in this Note, the Deed of Trust or any of the other Loan Documents (as hereinafter defined), then a tender of payment in an amount necessary to satisfy the entire outstanding principal
balance of this Note together with all accrued unpaid interest hereon made by Borrower, or by anyone on behalf of Borrower, at any time prior to, at, or as a result of, a foreclosure sale or sale pursuant to power of sale, shall constitute a
voluntary prepayment hereunder prior to the contracted Maturity Date of this Note thus requiring the payment to Lender of a Prepayment Fee equal to the applicable Prepayment Fee as set forth in paragraph (a) above; provided, however, that in
the event such Prepayment Fee is construed to be interest under the laws of the State of Oregon in any circumstance, such payment shall not be required to the extent that the amount thereof, together with other interest payable hereunder, exceeds
the maximum rate of interest that may be lawfully charged under applicable law. 

  

	 	(d)	Notwithstanding anything contained herein to the contrary, during the ninety (90) day period immediately preceding the Maturity Date of this Note, the entire
outstanding principal balance and all accrued unpaid interest on this Note may be prepaid in whole, but not in part, at par, without incurring a Prepayment Fee. 

 

	 	(e)	Notwithstanding anything contained herein to the contrary, if Borrower accepts the Adjusted Interest Rate as provided in paragraph 2 above, Borrower shall have the
right to prepay a portion of the unpaid principal balance of this Note prior to the Rate Adjustment Date, without a Prepayment Fee, provided the remaining principal balance of this Note after the prepayment may not be less than $150,000.00. Any
partial prepayment must be received by Lender no less than thirty (30) days prior to the Rate Adjustment Date. Any partial prepayment will be applied to pay down the principal balance of this Note upon Lender’s receipt of such prepayment.
The then remaining principal balance of this Note will then be used to calculate the new monthly payment amount as described in paragraph 2(d) above. 

 4. Waiver. To the extent permitted by law, each and every Borrower, surety, guarantor, endorser or signator to this Note and any other party now or hereafter liable for the payment of this Note, in
whatever capacity, whether in whole or in part hereby (a) waives notice of intent to demand, presentment for payment, notice of demand, demand, notice of nonpayment, protest, notice of protest, notice of dishonor, notice of intent to
accelerate, notice of acceleration, and all other notices, filing of suit, and diligence in collecting this Note and/or enforcing any of the security herefor; (b) agrees that Lender shall not be required first to institute suit or exhaust its
remedies against Borrower or others liable or to become liable hereon or against the Property (as hereinafter defined), it being understood that Lender may exercise its rights hereunder and pursue its remedies in any order and at any time it
desires, and may do so, without notice to or 

  
 Page 4

 
consent of any such person, and without in any way diminishing the obligations of any such person; (c) consents to Lender dealing with any such person with reference to this Note by way of
forbearance, extension, modification, compromise or otherwise; (d) consents and agrees to any and all extensions, releases, renewals, partial payments, surrenders, exchanges, substitutions of security herefor, compromises, discharges or
modifications and any other indulgence with respect to any right or obligation secured by or provided by the Deed of Trust, Mortgage, or Deed to Secure Debt, as the case may be, securing this Note (“Deed of Trust”) or any other instrument
securing this Note, before or after the maturity of this Note, without notice thereof to any of them; or (e) consents and agrees that Lender may take any other action which Lender may deem reasonably appropriate to protect its security interest
in the property securing this Note (“Property”). Any such action(s) taken under the preceding sentence may be taken against one, all, or some of such persons, and Lender may take any such action against one differently than another of such
persons, in Lender’s sole discretion. 
 5. Default; Default Rate. Time is material and of the essence hereof with
respect to the payment of any sums of any nature by and the performance of all duties or obligations of the Borrower. Each of the following shall be an Event of Default under this Note: (a) failure to make any payment of principal and/or
interest or any other payment required by the provisions of this Note or of any instrument securing this Note on the date such payment or payments are due; (b) failure to perform any other provision of this Note or of any instrument securing
this Note; (c) falsity in any material respect of the warranties in the Deed of Trust or of any representation, warranty or information furnished by Borrower or its agents to Lender in connection with the loan evidenced by this Note
(“Loan”); or (d) failure to pay or perform under any Other Loan Documents (as described and defined in the Deed of Trust). Upon the occurrence of any Event of Default, any sum not paid as provided in this Note or in any instrument
securing this Note, shall, at the option of Lender, without notice, bear interest from such due date at a rate of interest (“Default Rate”) equal to four (4) percentage points per annum greater than the Note Rate, or the maximum rate
of interest permitted by law, whichever is the lesser, and, at the option of Lender, the unpaid balance of principal, accrued interest, plus any other sums due under this Note, or under any instrument securing this Note shall at once become due and
payable, without notice except as described in paragraph 12, and shall bear interest at the Default Rate. If an Event of Default occurs during a period of time in which prepayment is permitted only on payment of a prepayment fee, such fee shall be
computed as if the sum declared due on default were a prepayment and shall be added to the sums due and payable hereunder. 
 6.
Late Charges. If any payment is not received by Lender (or by the correspondent if a correspondent has been designated by Lender to receive payments) within five (5) calendar days after its due date, Lender, at its option, may assess a
late charge equal to five cents for each $1.00 of each overdue payment or the maximum late charge permitted by the laws of the state in which the Property is located, whichever is less. Such late charge shall be due and payable on demand, and
Lender, at its option, may (a) refuse to accept any late payment or any subsequent payment unless accompanied by such late charge, (b) add such late charge to the principal balance of this Note or (c) treat the failure to pay such
late charge as demanded as an Event of Default hereunder. If such late charge is added to the principal balance of this Note, it 

  
 Page 5

 
shall bear interest at the Default Rate. The late charge is compensation for damages suffered by Lender and does not constitute interest. 

7. Acknowledgments Regarding Default Rate, Late Charges and Prepayment Charges. 

 

	 	(a)	Borrower acknowledges and agrees that (i) a default in making the payments herein agreed to be paid when due will result in the Lender incurring additional expense
in servicing the Loan, loss to Lender of the use of the money due, and frustration to Lender in meeting its other commitments, (ii) if for any reason it fails to pay any amounts due hereunder, Lender shall be entitled to damages for the
detriment caused thereby, but that it is extremely difficult and impractical to ascertain the extent of such damages, and (iii) the Default Rate and the late charge described in this Note are a reasonable estimate of such damages.

  

	 	(b)	Borrower acknowledges and agrees that (i) prepayment prior to the maturity date may result in loss to Lender, (ii) the amount of the loss will depend on the
interest rates at the time of prepayment, the amount of principal prepaid and the length of time remaining between the prepayment date and the scheduled maturity date, (iii) prepayment is most likely to occur when interest rates have dropped
below the Note Rate, and (iv) because it is extremely difficult and impractical to ascertain now the amount of loss Lender may suffer in the event of prepayment, (A) Lender shall be entitled to damages for the loss caused by prepayment and
(B) the prepayment fee described in this Note is a reasonable measure of such damages. Borrower agrees that the prepayment fee described in this Note shall be imposed, to the extent permitted by law, whether the prepayment is voluntary,
involuntary or by operation of law, in connection with an Event of Default, or required by Lender in connection with a transfer or contract to transfer the Property, provided that no prepayment fee shall be added to sums prepaid with casualty
insurance proceeds or condemnation awards. 

  

	 	(c)	Borrower expressly (i) waives any right to prepay the Loan without payment of the prepayment fee described above in connection with a transfer or contract to
transfer the Property by Borrower, or a successor in interest of the undersigned, and (ii) agrees to pay such prepayment fee as provided above in connection with such a transfer or contract to transfer. 

 

	 	(d)	Borrower represents that it is a knowledgeable real estate investor and fully understands the effect of the fees, charges, waivers and agreements contained above.
Borrower acknowledges and agrees that the making of the Loan by Lender at the interest rate and with the other terms described herein is sufficient consideration for such fees, charges, waiver and agreement, and that Lender would not make this Loan
on these terms without such fees, charges, waiver and agreement. 

  
 Page 6

 8. Expenses and Attorney Fees. If Lender refers this Note to an attorney for
collection or seeks legal advice following a default alleged in good faith under this Note; if Lender is the prevailing party in any litigation instituted in connection with this Note; or if Lender or any other person initiates any judicial or
nonjudicial action, suit or proceeding, including but not limited to a foreclosure sale, in connection with this Note or the security therefor, and an attorney is employed by Lender to (a) appear in any such action, suit or proceeding,
(b) reclaim, seek relief from a judicial or statutory stay, sequester, protect, preserve or enforce Lender’s interest in this Note, the Deed of Trust, or any other security for this Note (including but not limited to proceedings at
appellate levels, under federal bankruptcy law, in eminent domain, under probate proceedings, or in connection with any state or federal tax lien), or (c) assist Lender in any foreclosure sale, then, in any such event, Borrower shall pay
attorney’s fees and costs and expenses incurred by Lender and/or its attorney in connection with the above-mentioned events and any appeals or discretionary reviews related to such events, including but not limited to costs incurred in
searching records, the cost of title reports, the cost of appraisals, and the cost of surveyors’ reports. If not paid within ten days after such fees, costs and expenses become due and written demand for payment is made upon Borrower, such
amount may, at Lender’s option, be added to the principal of this Note and shall bear interest at the Default Rate. 
 9.
No Usury. In no event shall any payment of interest or any other sum payable hereunder both (a) violate the usury laws of the state in which the Property is located and (b) allow Borrower to bring a claim for usury or raise usury as
a defense in any action on this Note. If it is established that both (a) and (b) have occurred, and any payment exceeding lawful limits has been received, Lender shall refund such excess or, at its option, credit the excess amount to
principal, but such payments shall not affect the obligation to make periodic payments required herein. 
 10. Security.
The indebtedness evidenced by this Note is secured by the Deed of Trust, Mortgage, or Deed to Secure Debt, as applicable (“Deed of Trust”), of even date and may be secured by other security instruments. 

11. Due on Sale or Encumbrance. As provided in the Deed of Trust securing this Note, and subject to any exceptions provided
therein, transfers or encumbrances of the Property, or of ownership interests in Borrower, cause all sums evidenced by this Note and/or secured by the Deed of Trust or by any other Loan Document to become immediately due and payable. By signing this
Note, Borrower acknowledges that Borrower has received and reviewed a copy of the Deed of Trust and is familiar with the provisions restricting the transfer of the Property and the ownership interests therein and assumptions of the Loan. 

12. Notice and Opportunity to Cure. Notwithstanding any other provision of this Note, Lender shall not accelerate the sums
evidenced hereby because of a nonmonetary default (defined below) by Borrower unless Borrower fails to cure the default within fifteen (15) days of the earlier of the date on which Lender mails or delivers written notice of the default to
Borrower. For purposes of this Note, the term “nonmonetary default” means a failure by Borrower or any other person or entity to perform any obligation contained in this Note or any other document or instrument evidencing or securing the
Loan (collectively, “Loan 

  
 Page 7

 
Documents”), other than the obligation to make payments provided for in this Note or any other Loan Document. If a nonmonetary default is capable of being cured and the cure cannot
reasonably be completed within the fifteen (15) day cure period, the cure period shall be extended up to sixty (60) days so long as Borrower has commenced action to cure within the fifteen (15) day cure period, and in Lender’s
opinion, Borrower is proceeding to cure the default with due diligence. No notice of default and no opportunity to cure shall be required if during any 12-month period Lender has already sent a notice to Borrower concerning default in the
performance of the same obligation. None of the foregoing shall be construed to obligate Lender to forebear in any other manner from exercising its remedies and Lender may pursue any other rights or remedies which Lender may have because of a
default. 
 13. Commercial Purpose. The obligation evidenced by this Note is exclusively for commercial or business
purposes. 
 14. Notices. All notices required or permitted under this Note shall be in writing and may be
telecopies, cabled, delivered by hand, or mailed by first class registered or certified mail, return receipt requested, postage prepaid, and addressed as follows: 
 If to Lender: 
 STANDARD INSURANCE COMPANY 

c/o StanCorp Mortgage Investors, LLC 
 Attn: Mortgage Loan Servicing T3A 
 19225 NW Tanasbourne Drive

 Hillsboro, OR 97124 
 If to Borrower: 
 VITRAN OHIO, LLC 

Attn: Chris Keylon 
 P.O. Box 1290 (for U.S.P.S. mail delivery) 
 2850 Kramer Road (for
courier or other delivery) 
 Gibsonia, PA 15044 

Changes in the respective addresses to which such notices shall be directed may be from time to time by either party by notice to the
other party given at least ten (10) days before such change of address is to become effective. Notices given by mail in accordance with this provision shall be deemed to have been given three (3) days after the date of dispatch; notices
given by any other means shall be deemed to have been given when received. 
 15. Choice of Law, Jurisdiction and Venue;
Enforceability; Severability. Except for matters relating to the validity and/or enforcement of the security interest of Lender in the Property, which shall be determined in accordance with the applicable laws of the state in which the affected
Property is situated, the law of the state of Oregon shall govern the validity, interpretation, construction, performance and enforcement of this Note and any and all other 

  
 Page 8

 
Loan Documents. If, for any reason or to any extent any word, term, provision, or clause of this Note or any of the other Loan Documents, or its application to any person or situation, shall be
found by a court or other adjudicating authority to be invalid or unenforceable, the remaining words, terms, provisions, or clauses shall be enforced, and the affected work, term, clause, or provision shall be applied, to the fullest extent
permitted by law. Borrower irrevocably submits to the jurisdiction of Multnomah County state or Portland, Oregon federal court in any action or proceeding brought to enforce or otherwise arising out of or relating to this Note or any of the
other Loan Documents, and waives any claim that such forum is inappropriate and/or an inconvenient forum. 
 16. Successors
and Assigns. Whenever used herein, the words “undersigned”, “Borrower” and “Lender” shall be deemed to include their respective heirs, devisees, executors, administrators, personal representatives, successors and
assigns. 
 NOTICES TO BORROWER 
 DO NOT SIGN THIS NOTE BEFORE YOU READ IT. THIS NOTE PROVIDES FOR THE PAYMENT OF A FEE IF THIS NOTE IS PREPAID PRIOR TO THE DATE PROVIDED FOR REPAYMENT IN THIS NOTE AND OTHER CHARGES IF PAYMENTS ARE
LATE. IF YOU HAVE ANY QUESTIONS ABOUT THIS NOTE, YOU SHOULD CONSULT YOUR ATTORNEY. 
 ORS 41.580 Disclosure. UNDER OREGON
LAW, MOST AGREEMENTS, PROMISES AND COMMITMENTS BY LENDER, CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES, OR SECURED SOLELY BY THE BORROWER’S RESIDENCE MUST BE IN WRITING, EXPRESS
CONSIDERATION AND BE SIGNED BY AN AUTHORIZED REPRESENTATIVE OF LENDER TO BE ENFORCEABLE. 
 BORROWER: 

VITRAN OHIO, LLC, 
 a Delaware limited
liability company 
  

			
	By:	 	 /s/ CHRIS KEYLON

		 	CHRIS KEYLON
		 	Its: Authorized Manager

  
 Page 9

 SIC Loan No. B2110709 

NOTE 
  

			
	$2,227,000.00	  	January 15, 2013

 FOR VALUE
RECEIVED, the undersigned, VITRAN TOLEDO, LLC, a Delaware limited liability company (“Borrower”), promises to pay in lawful money of the United States, to the order of STANDARD INSURANCE COMPANY, an Oregon corporation
(together with any assigns, collectively, “Lender”), at its office in Hillsboro, Oregon, or such other place as Lender may designate, the principal amount of a loan (“Loan”) of Two Million Two Hundred Twenty-Seven Thousand and
No/100ths Dollars ($2,227,000.00), together with interest thereon, on the following agreements, terms and conditions. 
 1. Payments. Borrower shall make monthly payments of principal and interest to Lender, in amounts sufficient to fully amortize the principal balance of this Note over a fifteen (15) year
amortization period in substantially equal monthly payments. Such monthly payments of principal and interest shall be in the initial amount of Seventeen Thousand Four Hundred Sixty-Seven and No/100ths Dollars ($17,467.00)
payable on the first day of each month, commencing with the first day of March, 2013, together with such other sums as may become due hereunder or under any instrument securing this Note, until the entire indebtedness is fully
paid, except that any remaining indebtedness if not sooner paid shall be finally due and payable on the first day of February, 2028, which is the maturity date of this Note (“Maturity Date”). The monthly payment amount will
change after each Rate Adjustment Date (as defined in Paragraph 2) to an amount sufficient to repay the then unpaid principal balance of this Note in full at the then current interest rate, in substantially equal monthly payments over the balance of
the amortization period specified above. If applicable, until the payment is again changed, Borrower shall pay the new monthly payment each month beginning on the first day of the first calendar month after the applicable Rate Adjustment Date.
Lender will mail or deliver to Borrower a notice of any changes in the interest rate applicable to this Note, and any resulting changes in the monthly payments required under this Note, prior to the date the first payment is due after the applicable
Rate Adjustment Date. Every payment received with respect hereto shall be applied, in any order that may be determined by Lender in its sole discretion, to sums under this Note, including, without limitation: (a) late charges; (b) expenses
paid or funds advanced by Lender with interest thereon at the Default Rate when applicable (as hereinafter defined); (c) any prepayment fees due with respect to any payment and any other fees which may remain unpaid; (d) accrued interest
on the principal balance from time to time remaining unpaid; and (e) subject to the prepayment provisions herein, the principal balance hereunder. 
 2. Interest. The interest rate applicable to this Note will change on the applicable Rate Adjustment Dates. Interest shall be calculated on the basis of a 360-day year consisting of twelve 30-day
months, except that interest due and payable for a period of less than a full month and/or any prepayment shall be calculated on an actual accrual method. The initial interest rate included in the aforesaid payments, unless adjusted as otherwise
provided in this Note, shall be calculated at the rate of Four and Seven-Eighths percent (4.875%) per annum (“Note Rate”) upon the unpaid balance of principal of this Note. Borrower, jointly and severally, also promises

  
 Page 1

 
to pay interest at the Note Rate from the date of disbursement of the Loan proceeds evidenced by this Note (“Disbursement Date”) to the date from which interest is included in the first
payment previously described. As used herein, “Rate Adjustment Date(s)” shall be as follows: 
  

	 	•	 	 59 months from the First Payment Date; 

  

	 	•	 	 119 months from the First Payment Date; 

  

	 	(a)	One hundred and twenty (120) days prior to each Rate Adjustment Date, Lender will notify Borrower in writing of the Adjusted Interest Rate that will become
effective in accordance with this Note. The “Adjusted Interest Rate” will be Lender’s then prevailing annual interest rate for similar loans then being originated by Lender with a similar term (equal to the period between the Rate
Adjustment Date and the earlier of the next Rate Adjustment Date or the Maturity Date) then being originated by Lender on properties comparable to the Property (as herein defined) as determined solely by Lender. 

 

	 	(a)	Borrower shall have thirty (30) days from the date of receipt of such notification from Lender to accept or reject the Adjusted Interest Rate. Failure by Borrower
to notify Lender of the acceptance or rejection of the Adjusted Interest Rate within such thirty (30) day period shall be deemed to be a rejection of the Adjusted Interest Rate. If the Adjusted Interest Rate is rejected by Borrower (or deemed
rejected), the entire unpaid principal balance of this Note, all accrued unpaid interest hereon, and any other amounts payable hereunder or under the other Loan Documents (as hereinafter defined) shall be due and payable in full, without a
Prepayment Fee, no later than the Rate Adjustment Date. 

  

	 	(b)	If Borrower accepts the Adjusted Interest Rate for the offered period, the Adjusted Interest Rate shall become effective on the Rate Adjustment Date and monthly
installments of principal and interest shall then be due and payable in an amount to be determined that will amortize the remaining unpaid principal balance of this Note at the Adjusted Interest Rate over the remaining amortization period. In such
case, Borrower shall also have the option to prepay a portion of the remaining unpaid principal balance of this Note as described in paragraph 3(e) below. 

  

	 	(c)	Thereafter, monthly installments of principal and interest on the unpaid principal balance of this Note, at the Adjusted Interest Rate, in the amount thus calculated,
shall be due and payable in consecutive monthly installments commencing on the first day of the calendar month after the Rate Adjustment Date and continuing on the first day of each calendar month thereafter, to and including the monthly installment
of principal and interest due and payable on the earlier of the next Rate Adjustment Date or the Maturity Date. 

3. Prepayment Restrictions; Fees. Borrower shall have the right to prepay, in full but not in part, the obligation
evidenced by this Note upon giving Lender (i) not less than thirty 

  
 Page 2

 
(30) days’ prior written notice of (a) Borrower’s intention to so prepay this Note, and (b) the date upon which such prepayment will be received by Lender (“Prepayment
Date”), and (ii) payment to Lender of the Prepayment Fee (as hereinafter defined), if any, then due to Lender as hereinafter provided. 
  

	 	(a)	As used herein, the term “Prepayment Fee” shall mean an amount which is the greater of 

 

	 	(i)	one percent (1%) of the outstanding principal balance of this Note at the time of prepayment, or 

 

	 	(ii)	the sum of 

  

	 	(A)	the Present Value (as hereinafter defined) of the scheduled monthly payments due under this Note from the Prepayment Date to the earlier of the next Rate Adjustment
Date or the Maturity Date. 

  

	 	(B)	the Present Value of the amount of principal and interest due under this Note on the earlier of the next Rate Adjustment Date or the Maturity Date (assuming all
scheduled monthly payments due prior to such dates were made when due), minus 

  

	 	(C)	the outstanding principal balance of this Note as of the Prepayment Date. 

 The “Present Values” described in (A) and (B) shall be computed on a monthly basis as of the Prepayment Date discounted at a rate equal to the yield-to-maturity of the U.S. Treasury
Note or Bond closest in maturity to the earlier of the next Rate Adjustment Date or the Maturity Date as reported in The Wall Street Journal (or, if The Wall Street Journal is no longer published, as reported in such other daily financial
publication of national circulation which shall be designated by Lender) on the fifth business day preceding the Prepayment Date. Borrower shall be obligated to prepay this Note on the Prepayment Date set forth in the written notice to Lender
required hereinabove, after such notice has been delivered to Lender. 
  

	 	(b)	Notwithstanding the foregoing or any other provision herein to the contrary, if Lender elects to apply insurance proceeds, condemnation awards, or any escrowed amounts,
if applicable, to the reduction of the outstanding principal balance of this Note in the manner provided in the Deed of Trust, no Prepayment Fee shall be due or payable as a result of such application and the monthly installments due and payable
hereunder shall be reduced accordingly. 

  
 Page 3

	 	(c)	In the event the Maturity Date is accelerated by Lender at any time due to a default by Borrower in the payment of principal and/or interest due under this Note or in
the performance of the terms, covenants or conditions contained in this Note, the Deed of Trust or any of the other Loan Documents (as hereinafter defined), then a tender of payment in an amount necessary to satisfy the entire outstanding principal
balance of this Note together with all accrued unpaid interest hereon made by Borrower, or by anyone on behalf of Borrower, at any time prior to, at, or as a result of, a foreclosure sale or sale pursuant to power of sale, shall constitute a
voluntary prepayment hereunder prior to the contracted Maturity Date of this Note thus requiring the payment to Lender of a Prepayment Fee equal to the applicable Prepayment Fee as set forth in paragraph (a) above; provided, however, that in
the event such Prepayment Fee is construed to be interest under the laws of the State of Oregon in any circumstance, such payment shall not be required to the extent that the amount thereof, together with other interest payable hereunder, exceeds
the maximum rate of interest that may be lawfully charged under applicable law. 

  

	 	(d)	Notwithstanding anything contained herein to the contrary, during the ninety (90) day period immediately preceding the Maturity Date of this Note, the entire
outstanding principal balance and all accrued unpaid interest on this Note may be prepaid in whole, but not in part, at par, without incurring a Prepayment Fee. 

 

	 	(e)	Notwithstanding anything contained herein to the contrary, if Borrower accepts the Adjusted Interest Rate as provided in paragraph 2 above, Borrower shall have the
right to prepay a portion of the unpaid principal balance of this Note prior to the Rate Adjustment Date, without a Prepayment Fee, provided the remaining principal balance of this Note after the prepayment may not be less than $150,000.00. Any
partial prepayment must be received by Lender no less than thirty (30) days prior to the Rate Adjustment Date. Any partial prepayment will be applied to pay down the principal balance of this Note upon Lender’s receipt of such prepayment.
The then remaining principal balance of this Note will then be used to calculate the new monthly payment amount as described in paragraph 2(d) above. 

 4. Waiver. To the extent permitted by law, each and every Borrower, surety, guarantor, endorser or signator to this Note and any other party now or hereafter liable for the payment of this Note, in
whatever capacity, whether in whole or in part hereby (a) waives notice of intent to demand, presentment for payment, notice of demand, demand, notice of nonpayment, protest, notice of protest, notice of dishonor, notice of intent to
accelerate, notice of acceleration, and all other notices, filing of suit, and diligence in collecting this Note and/or enforcing any of the security herefor; (b) agrees that Lender shall not be required first to institute suit or exhaust its
remedies against Borrower or others liable or to become liable hereon or against the Property (as hereinafter defined), it being understood that Lender may exercise its rights hereunder and pursue its remedies in any order and at any time it
desires, and may do so, without notice to or consent of any such person, and without in any way diminishing the obligations of any such 

  
 Page 4

 
person; (c) consents to Lender dealing with any such person with reference to this Note by way of forbearance, extension, modification, compromise or otherwise; (d) consents and agrees
to any and all extensions, releases, renewals, partial payments, surrenders, exchanges, substitutions of security herefor, compromises, discharges or modifications and any other indulgence with respect to any right or obligation secured by or
provided by the Deed of Trust, Mortgage, or Deed to Secure Debt, as the case may be, securing this Note (“Deed of Trust”) or any other instrument securing this Note, before or after the maturity of this Note, without notice thereof to any
of them; or (e) consents and agrees that Lender may take any other action which Lender may deem reasonably appropriate to protect its security interest in the property securing this Note (“Property”). Any such action(s) taken under
the preceding sentence may be taken against one, all, or some of such persons, and Lender may take any such action against one differently than another of such persons, in Lender’s sole discretion. 

5. Default; Default Rate. Time is material and of the essence hereof with respect to the payment of any sums of any nature by and
the performance of all duties or obligations of the Borrower. Each of the following shall be an Event of Default under this Note: (a) failure to make any payment of principal and/or interest or any other payment required by the provisions of
this Note or of any instrument securing this Note on the date such payment or payments are due; (b) failure to perform any other provision of this Note or of any instrument securing this Note; (c) falsity in any material respect of the
warranties in the Deed of Trust or of any representation, warranty or information furnished by Borrower or its agents to Lender in connection with the loan evidenced by this Note (“Loan”); or (d) failure to pay or perform under any
Other Loan Documents (as described and defined in the Deed of Trust). Upon the occurrence of any Event of Default, any sum not paid as provided in this Note or in any instrument securing this Note, shall, at the option of Lender, without notice,
bear interest from such due date at a rate of interest (“Default Rate”) equal to four (4) percentage points per annum greater than the Note Rate, or the maximum rate of interest permitted by law, whichever is the lesser, and, at the
option of Lender, the unpaid balance of principal, accrued interest, plus any other sums due under this Note, or under any instrument securing this Note shall at once become due and payable, without notice except as described in paragraph 12, and
shall bear interest at the Default Rate. If an Event of Default occurs during a period of time in which prepayment is permitted only on payment of a prepayment fee, such fee shall be computed as if the sum declared due on default were a prepayment
and shall be added to the sums due and payable hereunder. 
 6. Late Charges. If any payment is not received by Lender
(or by the correspondent if a correspondent has been designated by Lender to receive payments) within five (5) calendar days after its due date, Lender, at its option, may assess a late charge equal to five cents for each $1.00 of each overdue
payment or the maximum late charge permitted by the laws of the state in which the Property is located, whichever is less. Such late charge shall be due and payable on demand, and Lender, at its option, may (a) refuse to accept any late payment
or any subsequent payment unless accompanied by such late charge, (b) add such late charge to the principal balance of this Note or (c) treat the failure to pay such late charge as demanded as an Event of Default hereunder. If such late
charge is added to the principal balance of this Note, it 

  
 Page 5

 
shall bear interest at the Default Rate. The late charge is compensation for damages suffered by Lender and does not constitute interest. 

7. Acknowledgments Regarding Default Rate, Late Charges and Prepayment Charges. 

 

	 	(a)	Borrower acknowledges and agrees that (i) a default in making the payments herein agreed to be paid when due will result in the Lender incurring additional expense
in servicing the Loan, loss to Lender of the use of the money due, and frustration to Lender in meeting its other commitments, (ii) if for any reason it fails to pay any amounts due hereunder, Lender shall be entitled to damages for the
detriment caused thereby, but that it is extremely difficult and impractical to ascertain the extent of such damages, and (iii) the Default Rate and the late charge described in this Note are a reasonable estimate of such damages.

  

	 	(b)	Borrower acknowledges and agrees that (i) prepayment prior to the maturity date may result in loss to Lender, (ii) the amount of the loss will depend on the
interest rates at the time of prepayment, the amount of principal prepaid and the length of time remaining between the prepayment date and the scheduled maturity date, (iii) prepayment is most likely to occur when interest rates have dropped
below the Note Rate, and (iv) because it is extremely difficult and impractical to ascertain now the amount of loss Lender may suffer in the event of prepayment, (A) Lender shall be entitled to damages for the loss caused by prepayment and
(B) the prepayment fee described in this Note is a reasonable measure of such damages. Borrower agrees that the prepayment fee described in this Note shall be imposed, to the extent permitted by law, whether the prepayment is voluntary,
involuntary or by operation of law, in connection with an Event of Default, or required by Lender in connection with a transfer or contract to transfer the Property, provided that no prepayment fee shall be added to sums prepaid with casualty
insurance proceeds or condemnation awards. 

  

	 	(c)	Borrower expressly (i) waives any right to prepay the Loan without payment of the prepayment fee described above in connection with a transfer or contract to
transfer the Property by Borrower, or a successor in interest of the undersigned, and (ii) agrees to pay such prepayment fee as provided above in connection with such a transfer or contract to transfer. 

 

	 	(d)	Borrower represents that it is a knowledgeable real estate investor and fully understands the effect of the fees, charges, waivers and agreements contained above.
Borrower acknowledges and agrees that the making of the Loan by Lender at the interest rate and with the other terms described herein is sufficient consideration for such fees, charges, waiver and agreement, and that Lender would not make this Loan
on these terms without such fees, charges, waiver and agreement. 

  
 Page 6

 8. Expenses and Attorney Fees. If Lender refers this Note to an attorney for
collection or seeks legal advice following a default alleged in good faith under this Note; if Lender is the prevailing party in any litigation instituted in connection with this Note; or if Lender or any other person initiates any judicial or
nonjudicial action, suit or proceeding, including but not limited to a foreclosure sale, in connection with this Note or the security therefor, and an attorney is employed by Lender to (a) appear in any such action, suit or proceeding,
(b) reclaim, seek relief from a judicial or statutory stay, sequester, protect, preserve or enforce Lender’s interest in this Note, the Deed of Trust, or any other security for this Note (including but not limited to proceedings at
appellate levels, under federal bankruptcy law, in eminent domain, under probate proceedings, or in connection with any state or federal tax lien), or (c) assist Lender in any foreclosure sale, then, in any such event, Borrower shall pay
attorney’s fees and costs and expenses incurred by Lender and/or its attorney in connection with the above-mentioned events and any appeals or discretionary reviews related to such events, including but not limited to costs incurred in
searching records, the cost of title reports, the cost of appraisals, and the cost of surveyors’ reports. If not paid within ten days after such fees, costs and expenses become due and written demand for payment is made upon Borrower, such
amount may, at Lender’s option, be added to the principal of this Note and shall bear interest at the Default Rate. 
 9.
No Usury. In no event shall any payment of interest or any other sum payable hereunder both (a) violate the usury laws of the state in which the Property is located and (b) allow Borrower to bring a claim for usury or raise usury as
a defense in any action on this Note. If it is established that both (a) and (b) have occurred, and any payment exceeding lawful limits has been received, Lender shall refund such excess or, at its option, credit the excess amount to
principal, but such payments shall not affect the obligation to make periodic payments required herein. 
 10. Security.
The indebtedness evidenced by this Note is secured by the Deed of Trust, Mortgage, or Deed to Secure Debt, as applicable (“Deed of Trust”), of even date and may be secured by other security instruments. 

11. Due on Sale or Encumbrance. As provided in the Deed of Trust securing this Note, and subject to any exceptions provided
therein, transfers or encumbrances of the Property, or of ownership interests in Borrower, cause all sums evidenced by this Note and/or secured by the Deed of Trust or by any other Loan Document to become immediately due and payable. By signing this
Note, Borrower acknowledges that Borrower has received and reviewed a copy of the Deed of Trust and is familiar with the provisions restricting the transfer of the Property and the ownership interests therein and assumptions of the Loan. 

12. Notice and Opportunity to Cure. Notwithstanding any other provision of this Note, Lender shall not accelerate the sums
evidenced hereby because of a nonmonetary default (defined below) by Borrower unless Borrower fails to cure the default within fifteen (15) days of the earlier of the date on which Lender mails or delivers written notice of the default to
Borrower. For purposes of this Note, the term “nonmonetary default” means a failure by Borrower or any other person or entity to perform any obligation contained in this Note or any other document or instrument evidencing or securing the
Loan (collectively, “Loan 

  
 Page 7

 
Documents”), other than the obligation to make payments provided for in this Note or any other Loan Document. If a nonmonetary default is capable of being cured and the cure cannot
reasonably be completed within the fifteen (15) day cure period, the cure period shall be extended up to sixty (60) days so long as Borrower has commenced action to cure within the fifteen (15) day cure period, and in Lender’s
opinion, Borrower is proceeding to cure the default with due diligence. No notice of default and no opportunity to cure shall be required if during any 12-month period Lender has already sent a notice to Borrower concerning default in the
performance of the same obligation. None of the foregoing shall be construed to obligate Lender to forebear in any other manner from exercising its remedies and Lender may pursue any other rights or remedies which Lender may have because of a
default. 
 13. Commercial Purpose. The obligation evidenced by this Note is exclusively for commercial or business
purposes. 
 14. Notices. All notices required or permitted under this Note shall be in writing and may be telecopies,
cabled, delivered by hand, or mailed by first class registered or certified mail, return receipt requested, postage prepaid, and addressed as follows: 
 If to Lender: 
 STANDARD INSURANCE COMPANY 

c/o StanCorp Mortgage Investors, LLC 
 Attn: Mortgage Loan Servicing T3A 
 19225 NW Tanasbourne Drive

 Hillsboro, OR 97124 
 If to Borrower: 
 VITRAN TOLEDO, LLC 

Attn: Chris Keylon 
 P.O. Box 1290 (for U.S.P.S. mail delivery) 
 2850 Kramer Road (for
courier or other delivery) 
 Gibsonia, PA 15044 

Changes in the respective addresses to which such notices shall be directed may be from time to time by either party by notice to the
other party given at least ten (10) days before such change of address is to become effective. Notices given by mail in accordance with this provision shall be deemed to have been given three (3) days after the date of dispatch; notices
given by any other means shall be deemed to have been given when received. 
 15. Choice of Law, Jurisdiction and Venue;
Enforceability; Severability. Except for matters relating to the validity and/or enforcement of the security interest of Lender in the Property, which shall be determined in accordance with the applicable laws of the state in which the affected
Property is situated, the law of the state of Oregon shall govern the validity, interpretation, construction, performance and enforcement of this Note and any and all other 

  
 Page 8

 
Loan Documents. If, for any reason or to any extent any word, term, provision, or clause of this Note or any of the other Loan Documents, or its application to any person or situation, shall be
found by a court or other adjudicating authority to be invalid or unenforceable, the remaining words, terms, provisions, or clauses shall be enforced, and the affected work, term, clause, or provision shall be applied, to the fullest extent
permitted by law. Borrower irrevocably submits to the jurisdiction of Multnomah County state or Portland, Oregon federal court in any action or proceeding brought to enforce or otherwise arising out of or relating to this Note or any of the
other Loan Documents, and waives any claim that such forum is inappropriate and/or an inconvenient forum. 
 16. Successors
and Assigns. Whenever used herein, the words “undersigned”, “Borrower” and “Lender” shall be deemed to include their respective heirs, devisees, executors, administrators, personal representatives, successors and
assigns. 
 NOTICES TO BORROWER 
 DO NOT SIGN THIS NOTE BEFORE YOU READ IT. THIS NOTE PROVIDES FOR THE PAYMENT OF A FEE IF THIS NOTE IS PREPAID PRIOR TO THE DATE PROVIDED FOR REPAYMENT IN THIS NOTE AND OTHER CHARGES IF PAYMENTS ARE
LATE. IF YOU HAVE ANY QUESTIONS ABOUT THIS NOTE, YOU SHOULD CONSULT YOUR ATTORNEY. 
 ORS 41.580 Disclosure. UNDER OREGON
LAW, MOST AGREEMENTS, PROMISES AND COMMITMENTS BY LENDER, CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES, OR SECURED SOLELY BY THE BORROWER’S RESIDENCE MUST BE IN WRITING, EXPRESS
CONSIDERATION AND BE SIGNED BY AN AUTHORIZED REPRESENTATIVE OF LENDER TO BE ENFORCEABLE. 
 BORROWER: 

VITRAN TOLEDO, LLC, 
 a Delaware limited
liability company 
  

			
	By:	 	 /s/ CHRIS KEYLON

		 	CHRIS KEYLON
		 	Its: Authorized Manager

  
 Page 9

 SIC Loan No. B2110706 

NOTE 
  

			
	$1,850,000.00	  	December 19, 2012

 FOR VALUE RECEIVED, the undersigned, VITRAN PENNSYLVANIA, LLC, a Delaware limited liability company
(“Borrower”), promises to pay in lawful money of the United States, to the order of STANDARD INSURANCE COMPANY, an Oregon corporation (together with any assigns, collectively, “Lender”), at its office in Hillsboro, Oregon,
or such other place as Lender may designate, the principal amount of a loan (“Loan”) of One Million Eight Hundred Fifty Thousand and No/100ths Dollars ($1,850,000.00), together with interest thereon, on the following
agreements, terms and conditions. 
 1. Payments. Borrower shall make monthly payments of principal and interest to
Lender, in amounts sufficient to fully amortize the principal balance of this Note over a fifteen (15) year amortization period in substantially equal monthly payments. Such monthly payments of principal and interest shall be in the initial
amount of Fourteen Thousand Five Hundred Ten and No/100ths Dollars ($14,510.00) payable on the first day of each month, commencing with the first day of February, 2013, together with such other sums as may become due
hereunder or under any instrument securing this Note, until the entire indebtedness is fully paid, except that any remaining indebtedness if not sooner paid shall be finally due and payable on the first day of January, 2028, which is
the maturity date of this Note (“Maturity Date”). The monthly payment amount will change after each Rate Adjustment Date (as defined in Paragraph 2) to an amount sufficient to repay the then unpaid principal balance of this Note in full at
the then current interest rate, in substantially equal monthly payments over the balance of the amortization period specified above. If applicable, until the payment is again changed, Borrower shall pay the new monthly payment each month beginning
on the first day of the first calendar month after the applicable Rate Adjustment Date. Lender will mail or deliver to Borrower a notice of any changes in the interest rate applicable to this Note, and any resulting changes in the monthly payments
required under this Note, prior to the date the first payment is due after the applicable Rate Adjustment Date. Every payment received with respect hereto shall be applied, in any order that may be determined by Lender in its sole discretion, to
sums under this Note, including, without limitation: (a) late charges; (b) expenses paid or funds advanced by Lender with interest thereon at the Default Rate when applicable (as hereinafter defined); (c) any prepayment fees due with
respect to any payment and any other fees which may remain unpaid; (d) accrued interest on the principal balance from time to time remaining unpaid; and (e) subject to the prepayment provisions herein, the principal balance hereunder.

 2. Interest. The interest rate applicable to this Note will change on the applicable Rate Adjustment Dates. Interest
shall be calculated on the basis of a 360-day year consisting of twelve 30-day months, except that interest due and payable for a period of less than a full month and/or any prepayment shall be calculated on an actual accrual method. The initial
interest rate included in the aforesaid payments, unless adjusted as otherwise provided in this Note, shall be calculated at the rate of Four and Seven-Eighths percent (4.875%) per annum (“Note Rate”) upon the unpaid
balance of principal of this Note. Borrower, jointly and severally, also promises 

  
 Page 1

 
to pay interest at the Note Rate from the date of disbursement of the Loan proceeds evidenced by this Note (“Disbursement Date”) to the date from which interest is included in the first
payment previously described. As used herein, “Rate Adjustment Date(s)” shall be as follows: 
  

	 	•	 	 59 months from the First Payment Date; 

  

	 	•	 	 119 months from the First Payment Date; 

  

	 	(a)	One hundred and twenty (120) days prior to each Rate Adjustment Date, Lender will notify Borrower in writing of the Adjusted Interest Rate that will become
effective in accordance with this Note. The “Adjusted Interest Rate” will be Lender’s then prevailing annual interest rate for similar loans then being originated by Lender with a similar term (equal to the period between the Rate
Adjustment Date and the earlier of the next Rate Adjustment Date or the Maturity Date) then being originated by Lender on properties comparable to the Property (as herein defined) as determined solely by Lender. 

 

	 	(a)	Borrower shall have thirty (30) days from the date of receipt of such notification from Lender to accept or reject the Adjusted Interest Rate. Failure by Borrower
to notify Lender of the acceptance or rejection of the Adjusted Interest Rate within such thirty (30) day period shall be deemed to be a rejection of the Adjusted Interest Rate. If the Adjusted Interest Rate is rejected by Borrower (or deemed
rejected), the entire unpaid principal balance of this Note, all accrued unpaid interest hereon, and any other amounts payable hereunder or under the other Loan Documents (as hereinafter defined) shall be due and payable in full, without a
Prepayment Fee, no later than the Rate Adjustment Date. 

  

	 	(b)	If Borrower accepts the Adjusted Interest Rate for the offered period, the Adjusted Interest Rate shall become effective on the Rate Adjustment Date and monthly
installments of principal and interest shall then be due and payable in an amount to be determined that will amortize the remaining unpaid principal balance of this Note at the Adjusted Interest Rate over the remaining amortization period. In such
case, Borrower shall also have the option to prepay a portion of the remaining unpaid principal balance of this Note as described in paragraph 3(e) below. 

  

	 	(c)	Thereafter, monthly installments of principal and interest on the unpaid principal balance of this Note, at the Adjusted Interest Rate, in the amount thus calculated,
shall be due and payable in consecutive monthly installments commencing on the first day of the calendar month after the Rate Adjustment Date and continuing on the first day of each calendar month thereafter, to and including the monthly installment
of principal and interest due and payable on the earlier of the next Rate Adjustment Date or the Maturity Date. 

3. Prepayment Restrictions; Fees. Borrower shall have the right to prepay, in full but not in part, the obligation
evidenced by this Note upon giving Lender (i) not less than thirty 

  
 Page 2

 
(30) days’ prior written notice of (a) Borrower’s intention to so prepay this Note, and (b) the date upon which such prepayment will be received by Lender (“Prepayment
Date”), and (ii) payment to Lender of the Prepayment Fee (as hereinafter defined), if any, then due to Lender as hereinafter provided. 
  

	 	(a)	As used herein, the term “Prepayment Fee” shall mean an amount which is the greater of 

 

	 	(i)	one percent (1%) of the outstanding principal balance of this Note at the time of prepayment, or 

 

	 	(ii)	the sum of 

  

	 	(A)	the Present Value (as hereinafter defined) of the scheduled monthly payments due under this Note from the Prepayment Date to the earlier of the next Rate Adjustment
Date or the Maturity Date. 

  

	 	(B)	the Present Value of the amount of principal and interest due under this Note on the earlier of the next Rate Adjustment Date or the Maturity Date (assuming all
scheduled monthly payments due prior to such dates were made when due), minus 

  

	 	(C)	the outstanding principal balance of this Note as of the Prepayment Date. 

 The “Present Values” described in (A) and (B) shall be computed on a monthly basis as of the Prepayment Date discounted at a rate equal to the yield-to-maturity of the U.S. Treasury
Note or Bond closest in maturity to the earlier of the next Rate Adjustment Date or the Maturity Date as reported in The Wall Street Journal (or, if The Wall Street Journal is no longer published, as reported in such other daily financial
publication of national circulation which shall be designated by Lender) on the fifth business day preceding the Prepayment Date. Borrower shall be obligated to prepay this Note on the Prepayment Date set forth in the written notice to Lender
required hereinabove, after such notice has been delivered to Lender. 
  

	 	(b)	Notwithstanding the foregoing or any other provision herein to the contrary, if Lender elects to apply insurance proceeds, condemnation awards, or any escrowed amounts,
if applicable, to the reduction of the outstanding principal balance of this Note in the manner provided in the Deed of Trust, no Prepayment Fee shall be due or payable as a result of such application and the monthly installments due and payable
hereunder shall be reduced accordingly. 

  
 Page 3

	 	(c)	In the event the Maturity Date is accelerated by Lender at any time due to a default by Borrower in the payment of principal and/or interest due under this Note or in
the performance of the terms, covenants or conditions contained in this Note, the Deed of Trust or any of the other Loan Documents (as hereinafter defined), then a tender of payment in an amount necessary to satisfy the entire outstanding principal
balance of this Note together with all accrued unpaid interest hereon made by Borrower, or by anyone on behalf of Borrower, at any time prior to, at, or as a result of, a foreclosure sale or sale pursuant to power of sale, shall constitute a
voluntary prepayment hereunder prior to the contracted Maturity Date of this Note thus requiring the payment to Lender of a Prepayment Fee equal to the applicable Prepayment Fee as set forth in paragraph (a) above; provided, however, that in
the event such Prepayment Fee is construed to be interest under the laws of the State of Oregon in any circumstance, such payment shall not be required to the extent that the amount thereof, together with other interest payable hereunder, exceeds
the maximum rate of interest that may be lawfully charged under applicable law. 

  

	 	(d)	Notwithstanding anything contained herein to the contrary, during the ninety (90) day period immediately preceding the Maturity Date of this Note, the entire
outstanding principal balance and all accrued unpaid interest on this Note may be prepaid in whole, but not in part, at par, without incurring a Prepayment Fee. 

 

	 	(e)	Notwithstanding anything contained herein to the contrary, if Borrower accepts the Adjusted Interest Rate as provided in paragraph 2 above, Borrower shall have the
right to prepay a portion of the unpaid principal balance of this Note prior to the Rate Adjustment Date, without a Prepayment Fee, provided the remaining principal balance of this Note after the prepayment may not be less than $150,000.00. Any
partial prepayment must be received by Lender no less than thirty (30) days prior to the Rate Adjustment Date. Any partial prepayment will be applied to pay down the principal balance of this Note upon Lender’s receipt of such prepayment.
The then remaining principal balance of this Note will then be used to calculate the new monthly payment amount as described in paragraph 2(d) above. 

 4. Waiver. To the extent permitted by law, each and every Borrower, surety, guarantor, endorser or signator to this Note and any other party now or hereafter liable for the payment of this Note, in
whatever capacity, whether in whole or in part hereby (a) waives notice of intent to demand, presentment for payment, notice of demand, demand, notice of nonpayment, protest, notice of protest, notice of dishonor, notice of intent to
accelerate, notice of acceleration, and all other notices, filing of suit, and diligence in collecting this Note and/or enforcing any of the security herefor; (b) agrees that Lender shall not be required first to institute suit or exhaust its
remedies against Borrower or others liable or to become liable hereon or against the Property (as hereinafter defined), it being understood that Lender may exercise its rights hereunder and pursue its remedies in any order and at any time it
desires, and may do so, without notice to or consent of any such person, and without in any way diminishing the obligations of any such 

  
 Page 4

 
person; (c) consents to Lender dealing with any such person with reference to this Note by way of forbearance, extension, modification, compromise or otherwise; (d) consents and agrees
to any and all extensions, releases, renewals, partial payments, surrenders, exchanges, substitutions of security herefor, compromises, discharges or modifications and any other indulgence with respect to any right or obligation secured by or
provided by the Deed of Trust, Mortgage, or Deed to Secure Debt, as the case may be, securing this Note (“Deed of Trust”) or any other instrument securing this Note, before or after the maturity of this Note, without notice thereof to any
of them; or (e) consents and agrees that Lender may take any other action which Lender may deem reasonably appropriate to protect its security interest in the property securing this Note (“Property”). Any such action(s) taken under
the preceding sentence may be taken against one, all, or some of such persons, and Lender may take any such action against one differently than another of such persons, in Lender’s sole discretion. 

5. Default; Default Rate. Time is material and of the essence hereof with respect to the payment of any sums of any nature by and
the performance of all duties or obligations of the Borrower. Each of the following shall be an Event of Default under this Note: (a) failure to make any payment of principal and/or interest or any other payment required by the provisions of
this Note or of any instrument securing this Note on the date such payment or payments are due; (b) failure to perform any other provision of this Note or of any instrument securing this Note; (c) falsity in any material respect of the
warranties in the Deed of Trust or of any representation, warranty or information furnished by Borrower or its agents to Lender in connection with the loan evidenced by this Note (“Loan”); or (d) failure to pay or perform under any
Other Loan Documents (as described and defined in the Deed of Trust). Upon the occurrence of any Event of Default, any sum not paid as provided in this Note or in any instrument securing this Note, shall, at the option of Lender, without notice,
bear interest from such due date at a rate of interest (“Default Rate”) equal to four (4) percentage points per annum greater than the Note Rate, or the maximum rate of interest permitted by law, whichever is the lesser, and, at the
option of Lender, the unpaid balance of principal, accrued interest, plus any other sums due under this Note, or under any instrument securing this Note shall at once become due and payable, without notice except as described in paragraph 12, and
shall bear interest at the Default Rate. If an Event of Default occurs during a period of time in which prepayment is permitted only on payment of a prepayment fee, such fee shall be computed as if the sum declared due on default were a prepayment
and shall be added to the sums due and payable hereunder. 
 6. Late Charges. If any payment is not received by Lender
(or by the correspondent if a correspondent has been designated by Lender to receive payments) within five (5) calendar days after its due date, Lender, at its option, may assess a late charge equal to five cents for each $1.00 of each overdue
payment or the maximum late charge permitted by the laws of the state in which the Property is located, whichever is less. Such late charge shall be due and payable on demand, and Lender, at its option, may (a) refuse to accept any late payment
or any subsequent payment unless accompanied by such late charge, (b) add such late charge to the principal balance of this Note or (c) treat the failure to pay such late charge as demanded as an Event of Default hereunder. If such late
charge is added to the principal balance of this Note, it 

  
 Page 5

 
shall bear interest at the Default Rate. The late charge is compensation for damages suffered by Lender and does not constitute interest. 

7. Acknowledgments Regarding Default Rate, Late Charges and Prepayment Charges. 

 

	 	(a)	Borrower acknowledges and agrees that (i) a default in making the payments herein agreed to be paid when due will result in the Lender incurring additional expense
in servicing the Loan, loss to Lender of the use of the money due, and frustration to Lender in meeting its other commitments, (ii) if for any reason it fails to pay any amounts due hereunder, Lender shall be entitled to damages for the
detriment caused thereby, but that it is extremely difficult and impractical to ascertain the extent of such damages, and (iii) the Default Rate and the late charge described in this Note are a reasonable estimate of such damages.

  

	 	(b)	Borrower acknowledges and agrees that (i) prepayment prior to the maturity date may result in loss to Lender, (ii) the amount of the loss will depend on the
interest rates at the time of prepayment, the amount of principal prepaid and the length of time remaining between the prepayment date and the scheduled maturity date, (iii) prepayment is most likely to occur when interest rates have dropped
below the Note Rate, and (iv) because it is extremely difficult and impractical to ascertain now the amount of loss Lender may suffer in the event of prepayment, (A) Lender shall be entitled to damages for the loss caused by prepayment and
(B) the prepayment fee described in this Note is a reasonable measure of such damages. Borrower agrees that the prepayment fee described in this Note shall be imposed, to the extent permitted by law, whether the prepayment is voluntary,
involuntary or by operation of law, in connection with an Event of Default, or required by Lender in connection with a transfer or contract to transfer the Property, provided that no prepayment fee shall be added to sums prepaid with casualty
insurance proceeds or condemnation awards. 

  

	 	(c)	Borrower expressly (i) waives any right to prepay the Loan without payment of the prepayment fee described above in connection with a transfer or contract to
transfer the Property by Borrower, or a successor in interest of the undersigned, and (ii) agrees to pay such prepayment fee as provided above in connection with such a transfer or contract to transfer. 

 

	 	(d)	Borrower represents that it is a knowledgeable real estate investor and fully understands the effect of the fees, charges, waivers and agreements contained above.
Borrower acknowledges and agrees that the making of the Loan by Lender at the interest rate and with the other terms described herein is sufficient consideration for such fees, charges, waiver and agreement, and that Lender would not make this Loan
on these terms without such fees, charges, waiver and agreement. 

  
 Page 6

 8. Expenses and Attorney Fees. If Lender refers this Note to an attorney for
collection or seeks legal advice following a default alleged in good faith under this Note; if Lender is the prevailing party in any litigation instituted in connection with this Note; or if Lender or any other person initiates any judicial or
nonjudicial action, suit or proceeding, including but not limited to a foreclosure sale, in connection with this Note or the security therefor, and an attorney is employed by Lender to (a) appear in any such action, suit or proceeding,
(b) reclaim, seek relief from a judicial or statutory stay, sequester, protect, preserve or enforce Lender’s interest in this Note, the Deed of Trust, or any other security for this Note (including but not limited to proceedings at
appellate levels, under federal bankruptcy law, in eminent domain, under probate proceedings, or in connection with any state or federal tax lien), or (c) assist Lender in any foreclosure sale, then, in any such event, Borrower shall pay
attorney’s fees and costs and expenses incurred by Lender and/or its attorney in connection with the above-mentioned events and any appeals or discretionary reviews related to such events, including but not limited to costs incurred in
searching records, the cost of title reports, the cost of appraisals, and the cost of surveyors’ reports. If not paid within ten days after such fees, costs and expenses become due and written demand for payment is made upon Borrower, such
amount may, at Lender’s option, be added to the principal of this Note and shall bear interest at the Default Rate. 
 9.
No Usury. In no event shall any payment of interest or any other sum payable hereunder both (a) violate the usury laws of the state in which the Property is located and (b) allow Borrower to bring a claim for usury or raise usury as
a defense in any action on this Note. If it is established that both (a) and (b) have occurred, and any payment exceeding lawful limits has been received, Lender shall refund such excess or, at its option, credit the excess amount to
principal, but such payments shall not affect the obligation to make periodic payments required herein. 
 10. Security.
The indebtedness evidenced by this Note is secured by the Deed of Trust, Mortgage, or Deed to Secure Debt, as applicable (“Deed of Trust”), of even date and may be secured by other security instruments. 

11. Due on Sale or Encumbrance. As provided in the Deed of Trust securing this Note, and subject to any exceptions provided
therein, transfers or encumbrances of the Property, or of ownership interests in Borrower, cause all sums evidenced by this Note and/or secured by the Deed of Trust or by any other Loan Document to become immediately due and payable. By signing this
Note, Borrower acknowledges that Borrower has received and reviewed a copy of the Deed of Trust and is familiar with the provisions restricting the transfer of the Property and the ownership interests therein and assumptions of the Loan. 

12. Notice and Opportunity to Cure. Notwithstanding any other provision of this Note, Lender shall not accelerate the sums
evidenced hereby because of a nonmonetary default (defined below) by Borrower unless Borrower fails to cure the default within fifteen (15) days of the earlier of the date on which Lender mails or delivers written notice of the default to
Borrower. For purposes of this Note, the term “nonmonetary default” means a failure by Borrower or any other person or entity to perform any obligation contained in this Note or any other document or instrument evidencing or securing the
Loan (collectively, “Loan 

  
 Page 7

 
Documents”), other than the obligation to make payments provided for in this Note or any other Loan Document. If a nonmonetary default is capable of being cured and the cure cannot
reasonably be completed within the fifteen (15) day cure period, the cure period shall be extended up to sixty (60) days so long as Borrower has commenced action to cure within the fifteen (15) day cure period, and in Lender’s
opinion, Borrower is proceeding to cure the default with due diligence. No notice of default and no opportunity to cure shall be required if during any 12-month period Lender has already sent a notice to Borrower concerning default in the
performance of the same obligation. None of the foregoing shall be construed to obligate Lender to forebear in any other manner from exercising its remedies and Lender may pursue any other rights or remedies which Lender may have because of a
default. 
 13. Commercial Purpose. The obligation evidenced by this Note is exclusively for commercial or business
purposes. 
 14. Notices. All notices required or permitted under this Note shall be in writing and may be
telecopies, cabled, delivered by hand, or mailed by first class registered or certified mail, return receipt requested, postage prepaid, and addressed as follows: 
 If to Lender: 
 STANDARD INSURANCE COMPANY 

c/o StanCorp Mortgage Investors, LLC 
 Attn: Mortgage Loan Servicing T3A 
 19225 NW Tanasbourne Drive

 Hillsboro, OR 97124 
 If to Borrower: 
 VITRAN PENNSYLVANIA, LLC 

Attn: Chris Keylon 
 P.O. Box 1290 (for U.S.P.S. mail delivery) 
 2850 Kramer Road (for
courier or other delivery) 
 Gibsonia, PA 15044 

Changes in the respective addresses to which such notices shall be directed may be from time to time by either party by notice to the
other party given at least ten (10) days before such change of address is to become effective. Notices given by mail in accordance with this provision shall be deemed to have been given three (3) days after the date of dispatch; notices
given by any other means shall be deemed to have been given when received. 
 15. Choice of Law, Jurisdiction and Venue;
Enforceability; Severability. Except for matters relating to the validity and/or enforcement of the security interest of Lender in the Property, which shall be determined in accordance with the applicable laws of the state in which the affected
Property is situated, the law of the state of Oregon shall govern the validity, interpretation, construction, performance and enforcement of this Note and any and all other 

  
 Page 8

 
Loan Documents. If, for any reason or to any extent any word, term, provision, or clause of this Note or any of the other Loan Documents, or its application to any person or situation, shall be
found by a court or other adjudicating authority to be invalid or unenforceable, the remaining words, terms, provisions, or clauses shall be enforced, and the affected work, term, clause, or provision shall be applied, to the fullest extent
permitted by law. Borrower irrevocably submits to the jurisdiction of Multnomah County state or Portland, Oregon federal court in any action or proceeding brought to enforce or otherwise arising out of or relating to this Note or any of the
other Loan Documents, and waives any claim that such forum is inappropriate and/or an inconvenient forum. 
 16. Successors
and Assigns. Whenever used herein, the words “undersigned”, “Borrower” and “Lender” shall be deemed to include their respective heirs, devisees, executors, administrators, personal representatives, successors and
assigns. 
 NOTICES TO BORROWER 
 DO NOT SIGN THIS NOTE BEFORE YOU READ IT. THIS NOTE PROVIDES FOR THE PAYMENT OF A FEE IF THIS NOTE IS PREPAID PRIOR TO THE DATE PROVIDED FOR REPAYMENT IN THIS NOTE AND OTHER CHARGES IF PAYMENTS ARE
LATE. IF YOU HAVE ANY QUESTIONS ABOUT THIS NOTE, YOU SHOULD CONSULT YOUR ATTORNEY. 
 ORS 41.580 Disclosure. UNDER OREGON
LAW, MOST AGREEMENTS, PROMISES AND COMMITMENTS BY LENDER, CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES, OR SECURED SOLELY BY THE BORROWER’S RESIDENCE MUST BE IN WRITING, EXPRESS
CONSIDERATION AND BE SIGNED BY AN AUTHORIZED REPRESENTATIVE OF LENDER TO BE ENFORCEABLE. 
 BORROWER: 

VITRAN PENNSYLVANIA, LLC, 
 a
Delaware limited liability company 
  

			
	By:	 	 /s/ CHRIS KEYLON

		 	CHRIS KEYLON
		 	Its: Authorized Manager

  
 Page 9

 SIC Loan No. B2110713 

NOTE 
  

					
	$1,290,000.00	  	 	January 15, 2013	  

 FOR VALUE RECEIVED, the undersigned, VITRAN TENNESSEE, LLC, a Delaware limited liability company
(“Borrower”), promises to pay in lawful money of the United States, to the order of STANDARD INSURANCE COMPANY, an Oregon corporation (together with any assigns, collectively, “Lender”), at its office in Hillsboro, Oregon,
or such other place as Lender may designate, the principal amount of a loan (“Loan”) of One Million Two Hundred Ninety Thousand and No/100ths Dollars ($1,290,000.00), together with interest thereon, on the following
agreements, terms and conditions. 
 1. Payments. Borrower shall make monthly payments of principal and interest to
Lender, in amounts sufficient to fully amortize the principal balance of this Note over a fifteen (15) year amortization period in substantially equal monthly payments. Such monthly payments of principal and interest shall be in the initial
amount of Ten Thousand One Hundred Eighteen and No/100ths Dollars ($10,118.00) payable on the first day of each month, commencing with the first day of March, 2013, together with such other sums as may become due
hereunder or under any instrument securing this Note, until the entire indebtedness is fully paid, except that any remaining indebtedness if not sooner paid shall be finally due and payable on the first day of February, 2028, which is the
maturity date of this Note (“Maturity Date”). The monthly payment amount will change after each Rate Adjustment Date (as defined in Paragraph 2) to an amount sufficient to repay the then unpaid principal balance of this Note in full at the
then current interest rate, in substantially equal monthly payments over the balance of the amortization period specified above. If applicable, until the payment is again changed, Borrower shall pay the new monthly payment each month beginning on
the first day of the first calendar month after the applicable Rate Adjustment Date. Lender will mail or deliver to Borrower a notice of any changes in the interest rate applicable to this Note, and any resulting changes in the monthly payments
required under this Note, prior to the date the first payment is due after the applicable Rate Adjustment Date. Every payment received with respect hereto shall be applied, in any order that may be determined by Lender in its sole discretion, to
sums under this Note, including, without limitation: (a) late charges; (b) expenses paid or funds advanced by Lender with interest thereon at the Default Rate when applicable (as hereinafter defined); (c) any prepayment fees due with
respect to any payment and any other fees which may remain unpaid; (d) accrued interest on the principal balance from time to time remaining unpaid; and (e) subject to the prepayment provisions herein, the principal balance hereunder.

 2. Interest. The interest rate applicable to this Note will change on the applicable Rate Adjustment Dates. Interest
shall be calculated on the basis of a 360-day year consisting of twelve 30-day months, except that interest due and payable for a period of less than a full month and/or any prepayment shall be calculated on an actual accrual method. The initial
interest rate included in the aforesaid payments, unless adjusted as otherwise provided in this Note, shall be calculated at the rate of Four and Seven-Eighths percent (4.875%) per annum (“Note Rate”) upon the unpaid
balance of principal of this Note. Borrower, jointly and severally, also promises 

  
 Page 1

 
to pay interest at the Note Rate from the date of disbursement of the Loan proceeds evidenced by this Note (“Disbursement Date”) to the date from which interest is included in the first
payment previously described. As used herein, “Rate Adjustment Date(s)” shall be as follows: 
  

	 	•	 	 59 months from the First Payment Date; 

  

	 	•	 	 119 months from the First Payment Date; 

  

	 	(a)	One hundred and twenty (120) days prior to each Rate Adjustment Date, Lender will notify Borrower in writing of the Adjusted Interest Rate that will become
effective in accordance with this Note. The “Adjusted Interest Rate” will be Lender’s then prevailing annual interest rate for similar loans then being originated by Lender with a similar term (equal to the period between the Rate
Adjustment Date and the earlier of the next Rate Adjustment Date or the Maturity Date) then being originated by Lender on properties comparable to the Property (as herein defined) as determined solely by Lender. 

 

	 	(a)	Borrower shall have thirty (30) days from the date of receipt of such notification from Lender to accept or reject the Adjusted Interest Rate. Failure by Borrower
to notify Lender of the acceptance or rejection of the Adjusted Interest Rate within such thirty (30) day period shall be deemed to be a rejection of the Adjusted Interest Rate. If the Adjusted Interest Rate is rejected by Borrower (or deemed
rejected), the entire unpaid principal balance of this Note, all accrued unpaid interest hereon, and any other amounts payable hereunder or under the other Loan Documents (as hereinafter defined) shall be due and payable in full, without a
Prepayment Fee, no later than the Rate Adjustment Date. 

  

	 	(b)	If Borrower accepts the Adjusted Interest Rate for the offered period, the Adjusted Interest Rate shall become effective on the Rate Adjustment Date and monthly
installments of principal and interest shall then be due and payable in an amount to be determined that will amortize the remaining unpaid principal balance of this Note at the Adjusted Interest Rate over the remaining amortization period. In such
case, Borrower shall also have the option to prepay a portion of the remaining unpaid principal balance of this Note as described in paragraph 3(e) below. 

  

	 	(c)	Thereafter, monthly installments of principal and interest on the unpaid principal balance of this Note, at the Adjusted Interest Rate, in the amount thus calculated,
shall be due and payable in consecutive monthly installments commencing on the first day of the calendar month after the Rate Adjustment Date and continuing on the first day of each calendar month thereafter, to and including the monthly installment
of principal and interest due and payable on the earlier of the next Rate Adjustment Date or the Maturity Date. 

3. Prepayment Restrictions; Fees. Borrower shall have the right to prepay, in full but not in part, the obligation
evidenced by this Note upon giving Lender (i) not less than thirty 

  
 Page 2

 
(30) days’ prior written notice of (a) Borrower’s intention to so prepay this Note, and (b) the date upon which such prepayment will be received by Lender (“Prepayment
Date”), and (ii) payment to Lender of the Prepayment Fee (as hereinafter defined), if any, then due to Lender as hereinafter provided. 
  

	 	(a)	As used herein, the term “Prepayment Fee” shall mean an amount which is the greater of 

 

	 	(i)	one percent (1%) of the outstanding principal balance of this Note at the time of prepayment, or 

 

	 	(ii)	the sum of 

  

	 	(A)	the Present Value (as hereinafter defined) of the scheduled monthly payments due under this Note from the Prepayment Date to the earlier of the next Rate Adjustment
Date or the Maturity Date. 

  

	 	(B)	the Present Value of the amount of principal and interest due under this Note on the earlier of the next Rate Adjustment Date or the Maturity Date (assuming all
scheduled monthly payments due prior to such dates were made when due), minus 

  

	 	(C)	the outstanding principal balance of this Note as of the Prepayment Date. 

 The “Present Values” described in (A) and (B) shall be computed on a monthly basis as of the Prepayment Date discounted at a rate equal to the yield-to-maturity of the U.S. Treasury
Note or Bond closest in maturity to the earlier of the next Rate Adjustment Date or the Maturity Date as reported in The Wall Street Journal (or, if The Wall Street Journal is no longer published, as reported in such other daily financial
publication of national circulation which shall be designated by Lender) on the fifth business day preceding the Prepayment Date. Borrower shall be obligated to prepay this Note on the Prepayment Date set forth in the written notice to Lender
required hereinabove, after such notice has been delivered to Lender. 
  

	 	(b)	Notwithstanding the foregoing or any other provision herein to the contrary, if Lender elects to apply insurance proceeds, condemnation awards, or any escrowed amounts,
if applicable, to the reduction of the outstanding principal balance of this Note in the manner provided in the Deed of Trust, no Prepayment Fee shall be due or payable as a result of such application and the monthly installments due and payable
hereunder shall be reduced accordingly. 

  
 Page 3

	 	(c)	In the event the Maturity Date is accelerated by Lender at any time due to a default by Borrower in the payment of principal and/or interest due under this Note or in
the performance of the terms, covenants or conditions contained in this Note, the Deed of Trust or any of the other Loan Documents (as hereinafter defined), then a tender of payment in an amount necessary to satisfy the entire outstanding principal
balance of this Note together with all accrued unpaid interest hereon made by Borrower, or by anyone on behalf of Borrower, at any time prior to, at, or as a result of, a foreclosure sale or sale pursuant to power of sale, shall constitute a
voluntary prepayment hereunder prior to the contracted Maturity Date of this Note thus requiring the payment to Lender of a Prepayment Fee equal to the applicable Prepayment Fee as set forth in paragraph (a) above; provided, however, that in
the event such Prepayment Fee is construed to be interest under the laws of the State of Oregon in any circumstance, such payment shall not be required to the extent that the amount thereof, together with other interest payable hereunder, exceeds
the maximum rate of interest that may be lawfully charged under applicable law. 

  

	 	(d)	Notwithstanding anything contained herein to the contrary, during the ninety (90) day period immediately preceding the Maturity Date of this Note, the entire
outstanding principal balance and all accrued unpaid interest on this Note may be prepaid in whole, but not in part, at par, without incurring a Prepayment Fee. 

 

	 	(e)	Notwithstanding anything contained herein to the contrary, if Borrower accepts the Adjusted Interest Rate as provided in paragraph 2 above, Borrower shall have the
right to prepay a portion of the unpaid principal balance of this Note prior to the Rate Adjustment Date, without a Prepayment Fee, provided the remaining principal balance of this Note after the prepayment may not be less than $150,000.00. Any
partial prepayment must be received by Lender no less than thirty (30) days prior to the Rate Adjustment Date. Any partial prepayment will be applied to pay down the principal balance of this Note upon Lender’s receipt of such prepayment.
The then remaining principal balance of this Note will then be used to calculate the new monthly payment amount as described in paragraph 2(d) above. 

 4. Waiver. To the extent permitted by law, each and every Borrower, surety, guarantor, endorser or signator to this Note and any other party now or hereafter liable for the payment of this Note, in
whatever capacity, whether in whole or in part hereby (a) waives notice of intent to demand, presentment for payment, notice of demand, demand, notice of nonpayment, protest, notice of protest, notice of dishonor, notice of intent to
accelerate, notice of acceleration, and all other notices, filing of suit, and diligence in collecting this Note and/or enforcing any of the security herefor; (b) agrees that Lender shall not be required first to institute suit or exhaust its
remedies against Borrower or others liable or to become liable hereon or against the Property (as hereinafter defined), it being understood that Lender may exercise its rights hereunder and pursue its remedies in any order and at any time it
desires, and may do so, without notice to or consent of any such person, and without in any way diminishing the obligations of any such 

  
 Page 4

 
person; (c) consents to Lender dealing with any such person with reference to this Note by way of forbearance, extension, modification, compromise or otherwise; (d) consents and agrees
to any and all extensions, releases, renewals, partial payments, surrenders, exchanges, substitutions of security herefor, compromises, discharges or modifications and any other indulgence with respect to any right or obligation secured by or
provided by the Deed of Trust, Mortgage, or Deed to Secure Debt, as the case may be, securing this Note (“Deed of Trust”) or any other instrument securing this Note, before or after the maturity of this Note, without notice thereof to any
of them; or (e) consents and agrees that Lender may take any other action which Lender may deem reasonably appropriate to protect its security interest in the property securing this Note (“Property”). Any such action(s) taken under
the preceding sentence may be taken against one, all, or some of such persons, and Lender may take any such action against one differently than another of such persons, in Lender’s sole discretion. 

5. Default; Default Rate. Time is material and of the essence hereof with respect to the payment of any sums of any nature by and
the performance of all duties or obligations of the Borrower. Each of the following shall be an Event of Default under this Note: (a) failure to make any payment of principal and/or interest or any other payment required by the provisions of
this Note or of any instrument securing this Note on the date such payment or payments are due; (b) failure to perform any other provision of this Note or of any instrument securing this Note; (c) falsity in any material respect of the
warranties in the Deed of Trust or of any representation, warranty or information furnished by Borrower or its agents to Lender in connection with the loan evidenced by this Note (“Loan”); or (d) failure to pay or perform under any
Other Loan Documents (as described and defined in the Deed of Trust). Upon the occurrence of any Event of Default, any sum not paid as provided in this Note or in any instrument securing this Note, shall, at the option of Lender, without notice,
bear interest from such due date at a rate of interest (“Default Rate”) equal to four (4) percentage points per annum greater than the Note Rate, or the maximum rate of interest permitted by law, whichever is the lesser, and, at the
option of Lender, the unpaid balance of principal, accrued interest, plus any other sums due under this Note, or under any instrument securing this Note shall at once become due and payable, without notice except as described in paragraph 12, and
shall bear interest at the Default Rate. If an Event of Default occurs during a period of time in which prepayment is permitted only on payment of a prepayment fee, such fee shall be computed as if the sum declared due on default were a prepayment
and shall be added to the sums due and payable hereunder. 
 6. Late Charges. If any payment is not received by Lender
(or by the correspondent if a correspondent has been designated by Lender to receive payments) within five (5) calendar days after its due date, Lender, at its option, may assess a late charge equal to five cents for each $1.00 of each overdue
payment or the maximum late charge permitted by the laws of the state in which the Property is located, whichever is less. Such late charge shall be due and payable on demand, and Lender, at its option, may (a) refuse to accept any late payment
or any subsequent payment unless accompanied by such late charge, (b) add such late charge to the principal balance of this Note or (c) treat the failure to pay such late charge as demanded as an Event of Default hereunder. If such late
charge is added to the principal balance of this Note, it 

  
 Page 5

 
shall bear interest at the Default Rate. The late charge is compensation for damages suffered by Lender and does not constitute interest. 

7. Acknowledgments Regarding Default Rate, Late Charges and Prepayment Charges. 

 

	 	(a)	Borrower acknowledges and agrees that (i) a default in making the payments herein agreed to be paid when due will result in the Lender incurring additional expense
in servicing the Loan, loss to Lender of the use of the money due, and frustration to Lender in meeting its other commitments, (ii) if for any reason it fails to pay any amounts due hereunder, Lender shall be entitled to damages for the
detriment caused thereby, but that it is extremely difficult and impractical to ascertain the extent of such damages, and (iii) the Default Rate and the late charge described in this Note are a reasonable estimate of such damages.

  

	 	(b)	Borrower acknowledges and agrees that (i) prepayment prior to the maturity date may result in loss to Lender, (ii) the amount of the loss will depend on the
interest rates at the time of prepayment, the amount of principal prepaid and the length of time remaining between the prepayment date and the scheduled maturity date, (iii) prepayment is most likely to occur when interest rates have dropped
below the Note Rate, and (iv) because it is extremely difficult and impractical to ascertain now the amount of loss Lender may suffer in the event of prepayment, (A) Lender shall be entitled to damages for the loss caused by prepayment and
(B) the prepayment fee described in this Note is a reasonable measure of such damages. Borrower agrees that the prepayment fee described in this Note shall be imposed, to the extent permitted by law, whether the prepayment is voluntary,
involuntary or by operation of law, in connection with an Event of Default, or required by Lender in connection with a transfer or contract to transfer the Property, provided that no prepayment fee shall be added to sums prepaid with casualty
insurance proceeds or condemnation awards. 

  

	 	(c)	Borrower expressly (i) waives any right to prepay the Loan without payment of the prepayment fee described above in connection with a transfer or contract to
transfer the Property by Borrower, or a successor in interest of the undersigned, and (ii) agrees to pay such prepayment fee as provided above in connection with such a transfer or contract to transfer. 

 

	 	(d)	Borrower represents that it is a knowledgeable real estate investor and fully understands the effect of the fees, charges, waivers and agreements contained above.
Borrower acknowledges and agrees that the making of the Loan by Lender at the interest rate and with the other terms described herein is sufficient consideration for such fees, charges, waiver and agreement, and that Lender would not make this Loan
on these terms without such fees, charges, waiver and agreement. 

  
 Page 6

 8. Expenses and Attorney Fees. If Lender refers this Note to an attorney for
collection or seeks legal advice following a default alleged in good faith under this Note; if Lender is the prevailing party in any litigation instituted in connection with this Note; or if Lender or any other person initiates any judicial or
nonjudicial action, suit or proceeding, including but not limited to a foreclosure sale, in connection with this Note or the security therefor, and an attorney is employed by Lender to (a) appear in any such action, suit or proceeding,
(b) reclaim, seek relief from a judicial or statutory stay, sequester, protect, preserve or enforce Lender’s interest in this Note, the Deed of Trust, or any other security for this Note (including but not limited to proceedings at
appellate levels, under federal bankruptcy law, in eminent domain, under probate proceedings, or in connection with any state or federal tax lien), or (c) assist Lender in any foreclosure sale, then, in any such event, Borrower shall pay
attorney’s fees and costs and expenses incurred by Lender and/or its attorney in connection with the above-mentioned events and any appeals or discretionary reviews related to such events, including but not limited to costs incurred in
searching records, the cost of title reports, the cost of appraisals, and the cost of surveyors’ reports. If not paid within ten days after such fees, costs and expenses become due and written demand for payment is made upon Borrower, such
amount may, at Lender’s option, be added to the principal of this Note and shall bear interest at the Default Rate. 
 9.
No Usury. In no event shall any payment of interest or any other sum payable hereunder both (a) violate the usury laws of the state in which the Property is located and (b) allow Borrower to bring a claim for usury or raise usury as
a defense in any action on this Note. If it is established that both (a) and (b) have occurred, and any payment exceeding lawful limits has been received, Lender shall refund such excess or, at its option, credit the excess amount to
principal, but such payments shall not affect the obligation to make periodic payments required herein. 
 10. Security.
The indebtedness evidenced by this Note is secured by the Deed of Trust, Mortgage, or Deed to Secure Debt, as applicable (“Deed of Trust”), of even date and may be secured by other security instruments. 

11. Due on Sale or Encumbrance. As provided in the Deed of Trust securing this Note, and subject to any exceptions provided
therein, transfers or encumbrances of the Property, or of ownership interests in Borrower, cause all sums evidenced by this Note and/or secured by the Deed of Trust or by any other Loan Document to become immediately due and payable. By signing this
Note, Borrower acknowledges that Borrower has received and reviewed a copy of the Deed of Trust and is familiar with the provisions restricting the transfer of the Property and the ownership interests therein and assumptions of the Loan. 

12. Notice and Opportunity to Cure. Notwithstanding any other provision of this Note, Lender shall not accelerate the sums
evidenced hereby because of a nonmonetary default (defined below) by Borrower unless Borrower fails to cure the default within fifteen (15) days of the earlier of the date on which Lender mails or delivers written notice of the default to
Borrower. For purposes of this Note, the term “nonmonetary default” means a failure by Borrower or any other person or entity to perform any obligation contained in this Note or any other document or instrument evidencing or securing the
Loan (collectively, “Loan 

  
 Page 7

 
Documents”), other than the obligation to make payments provided for in this Note or any other Loan Document. If a nonmonetary default is capable of being cured and the cure cannot
reasonably be completed within the fifteen (15) day cure period, the cure period shall be extended up to sixty (60) days so long as Borrower has commenced action to cure within the fifteen (15) day cure period, and in Lender’s
opinion, Borrower is proceeding to cure the default with due diligence. No notice of default and no opportunity to cure shall be required if during any 12-month period Lender has already sent a notice to Borrower concerning default in the
performance of the same obligation. None of the foregoing shall be construed to obligate Lender to forebear in any other manner from exercising its remedies and Lender may pursue any other rights or remedies which Lender may have because of a
default. 
 13. Commercial Purpose. The obligation evidenced by this Note is exclusively for commercial or business
purposes. 
 14. Notices. All notices required or permitted under this Note shall be in writing and may be telecopies,
cabled, delivered by hand, or mailed by first class registered or certified mail, return receipt requested, postage prepaid, and addressed as follows: 
 If to Lender: 
 STANDARD INSURANCE COMPANY 

c/o StanCorp Mortgage Investors, LLC 
 Attn: Mortgage Loan Servicing T3A 
 19225 NW Tanasbourne Drive

 Hillsboro, OR 97124 
 If to Borrower: 
 VITRAN TENNESSEE, LLC 

Attn: Chris Keylon 
 P.O. Box 1290 (for U.S.P.S. mail delivery) 
 2850 Kramer Road (for
courier or other delivery) 
 Gibsonia, PA 15044 

Changes in the respective addresses to which such notices shall be directed may be from time to time by either party by notice to the
other party given at least ten (10) days before such change of address is to become effective. Notices given by mail in accordance with this provision shall be deemed to have been given three (3) days after the date of dispatch; notices
given by any other means shall be deemed to have been given when received. 
 15. Choice of Law, Jurisdiction and Venue;
Enforceability; Severability. Except for matters relating to the validity and/or enforcement of the security interest of Lender in the Property, which shall be determined in accordance with the applicable laws of the state in which the affected
Property is situated, the law of the state of Oregon shall govern the validity, interpretation, construction, performance and enforcement of this Note and any and all other 

  
 Page 8

 
Loan Documents. If, for any reason or to any extent any word, term, provision, or clause of this Note or any of the other Loan Documents, or its application to any person or situation, shall be
found by a court or other adjudicating authority to be invalid or unenforceable, the remaining words, terms, provisions, or clauses shall be enforced, and the affected work, term, clause, or provision shall be applied, to the fullest extent
permitted by law. Borrower irrevocably submits to the jurisdiction of Multnomah County state or Portland, Oregon federal court in any action or proceeding brought to enforce or otherwise arising out of or relating to this Note or any of the
other Loan Documents, and waives any claim that such forum is inappropriate and/or an inconvenient forum. 
 16. Successors
and Assigns. Whenever used herein, the words “undersigned”, “Borrower” and “Lender” shall be deemed to include their respective heirs, devisees, executors, administrators, personal representatives, successors and
assigns. 
 NOTICES TO BORROWER 
 DO NOT SIGN THIS NOTE BEFORE YOU READ IT. THIS NOTE PROVIDES FOR THE PAYMENT OF A FEE IF THIS NOTE IS PREPAID PRIOR TO THE DATE PROVIDED FOR REPAYMENT IN THIS NOTE AND OTHER CHARGES IF PAYMENTS ARE
LATE. IF YOU HAVE ANY QUESTIONS ABOUT THIS NOTE, YOU SHOULD CONSULT YOUR ATTORNEY. 
 ORS 41.580 Disclosure. UNDER OREGON
LAW, MOST AGREEMENTS, PROMISES AND COMMITMENTS BY LENDER, CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES, OR SECURED SOLELY BY THE BORROWER’S RESIDENCE MUST BE IN WRITING, EXPRESS
CONSIDERATION AND BE SIGNED BY AN AUTHORIZED REPRESENTATIVE OF LENDER TO BE ENFORCEABLE. 
 BORROWER: 

VITRAN TENNESSEE, LLC, 
 a
Delaware limited liability company 
  

			
	By:	 	 /s/ CHRIS KEYLON

		 	CHRIS KEYLON
		 	Its: Authorized Manager

  
 Page 9

 SIC Loan No. B2110721 

NOTE 
  

					
	$800,000.00	  	 	December 19, 2012	  

 FOR VALUE RECEIVED, the undersigned, VITRAN TENNESSEE, LLC, a Delaware limited liability company
(“Borrower”), promises to pay in lawful money of the United States, to the order of STANDARD INSURANCE COMPANY, an Oregon corporation (together with any assigns, collectively, “Lender”), at its office in Hillsboro, Oregon,
or such other place as Lender may designate, the principal amount of a loan (“Loan”) of Eight Hundred Thousand and No/100ths Dollars ($800,000.00), together with interest thereon, on the following agreements, terms and
conditions. 
 1. Payments. Borrower shall make monthly payments of principal and interest to Lender, in amounts
sufficient to fully amortize the principal balance of this Note over a fifteen (15) year amortization period in substantially equal monthly payments. Such monthly payments of principal and interest shall be in the initial amount of Six
Thousand Two Hundred Seventy-Five and No/100ths Dollars ($6,275.00) payable on the first day of each month, commencing with the first day of February, 2013, together with such other sums as may become due hereunder or
under any instrument securing this Note, until the entire indebtedness is fully paid, except that any remaining indebtedness if not sooner paid shall be finally due and payable on the first day of January, 2028, which is the maturity
date of this Note (“Maturity Date”). The monthly payment amount will change after each Rate Adjustment Date (as defined in Paragraph 2) to an amount sufficient to repay the then unpaid principal balance of this Note in full at the then
current interest rate, in substantially equal monthly payments over the balance of the amortization period specified above. If applicable, until the payment is again changed, Borrower shall pay the new monthly payment each month beginning on the
first day of the first calendar month after the applicable Rate Adjustment Date. Lender will mail or deliver to Borrower a notice of any changes in the interest rate applicable to this Note, and any resulting changes in the monthly payments required
under this Note, prior to the date the first payment is due after the applicable Rate Adjustment Date. Every payment received with respect hereto shall be applied, in any order that may be determined by Lender in its sole discretion, to sums under
this Note, including, without limitation: (a) late charges; (b) expenses paid or funds advanced by Lender with interest thereon at the Default Rate when applicable (as hereinafter defined); (c) any prepayment fees due with respect to
any payment and any other fees which may remain unpaid; (d) accrued interest on the principal balance from time to time remaining unpaid; and (e) subject to the prepayment provisions herein, the principal balance hereunder. 

2. Interest. The interest rate applicable to this Note will change on the applicable Rate Adjustment Dates. Interest shall be
calculated on the basis of a 360-day year consisting of twelve 30-day months, except that interest due and payable for a period of less than a full month and/or any prepayment shall be calculated on an actual accrual method. The initial interest
rate included in the aforesaid payments, unless adjusted as otherwise provided in this Note, shall be calculated at the rate of Four and Seven-Eighths percent (4.875%) per annum (“Note Rate”) upon the unpaid balance of
principal of this Note. Borrower, jointly and severally, also promises 

  
 Page 1

 
to pay interest at the Note Rate from the date of disbursement of the Loan proceeds evidenced by this Note (“Disbursement Date”) to the date from which interest is included in the first
payment previously described. As used herein, “Rate Adjustment Date(s)” shall be as follows: 
  

	 	•	 	 59 months from the First Payment Date; 

  

	 	•	 	 119 months from the First Payment Date; 

  

	 	(a)	One hundred and twenty (120) days prior to each Rate Adjustment Date, Lender will notify Borrower in writing of the Adjusted Interest Rate that will become
effective in accordance with this Note. The “Adjusted Interest Rate” will be Lender’s then prevailing annual interest rate for similar loans then being originated by Lender with a similar term (equal to the period between the Rate
Adjustment Date and the earlier of the next Rate Adjustment Date or the Maturity Date) then being originated by Lender on properties comparable to the Property (as herein defined) as determined solely by Lender. 

 

	 	(a)	Borrower shall have thirty (30) days from the date of receipt of such notification from Lender to accept or reject the Adjusted Interest Rate. Failure by Borrower
to notify Lender of the acceptance or rejection of the Adjusted Interest Rate within such thirty (30) day period shall be deemed to be a rejection of the Adjusted Interest Rate. If the Adjusted Interest Rate is rejected by Borrower (or deemed
rejected), the entire unpaid principal balance of this Note, all accrued unpaid interest hereon, and any other amounts payable hereunder or under the other Loan Documents (as hereinafter defined) shall be due and payable in full, without a
Prepayment Fee, no later than the Rate Adjustment Date. 

  

	 	(b)	If Borrower accepts the Adjusted Interest Rate for the offered period, the Adjusted Interest Rate shall become effective on the Rate Adjustment Date and monthly
installments of principal and interest shall then be due and payable in an amount to be determined that will amortize the remaining unpaid principal balance of this Note at the Adjusted Interest Rate over the remaining amortization period. In such
case, Borrower shall also have the option to prepay a portion of the remaining unpaid principal balance of this Note as described in paragraph 3(e) below. 

  

	 	(c)	Thereafter, monthly installments of principal and interest on the unpaid principal balance of this Note, at the Adjusted Interest Rate, in the amount thus calculated,
shall be due and payable in consecutive monthly installments commencing on the first day of the calendar month after the Rate Adjustment Date and continuing on the first day of each calendar month thereafter, to and including the monthly installment
of principal and interest due and payable on the earlier of the next Rate Adjustment Date or the Maturity Date. 

3. Prepayment Restrictions; Fees. Borrower shall have the right to prepay, in full but not in part, the obligation
evidenced by this Note upon giving Lender (i) not less than thirty 

  
 Page 2

 
(30) days’ prior written notice of (a) Borrower’s intention to so prepay this Note, and (b) the date upon which such prepayment will be received by Lender (“Prepayment
Date”), and (ii) payment to Lender of the Prepayment Fee (as hereinafter defined), if any, then due to Lender as hereinafter provided. 
  

	 	(a)	As used herein, the term “Prepayment Fee” shall mean an amount which is the greater of 

 

	 	(i)	one percent (1%) of the outstanding principal balance of this Note at the time of prepayment, or 

 

	 	(ii)	the sum of 

  

	 	(A)	the Present Value (as hereinafter defined) of the scheduled monthly payments due under this Note from the Prepayment Date to the earlier of the next Rate Adjustment
Date or the Maturity Date. 

  

	 	(B)	the Present Value of the amount of principal and interest due under this Note on the earlier of the next Rate Adjustment Date or the Maturity Date (assuming all
scheduled monthly payments due prior to such dates were made when due), minus 

  

	 	(C)	the outstanding principal balance of this Note as of the Prepayment Date. 

 The “Present Values” described in (A) and (B) shall be computed on a monthly basis as of the Prepayment Date discounted at a rate equal to the yield-to-maturity of the U.S. Treasury
Note or Bond closest in maturity to the earlier of the next Rate Adjustment Date or the Maturity Date as reported in The Wall Street Journal (or, if The Wall Street Journal is no longer published, as reported in such other daily financial
publication of national circulation which shall be designated by Lender) on the fifth business day preceding the Prepayment Date. Borrower shall be obligated to prepay this Note on the Prepayment Date set forth in the written notice to Lender
required hereinabove, after such notice has been delivered to Lender. 
  

	 	(b)	Notwithstanding the foregoing or any other provision herein to the contrary, if Lender elects to apply insurance proceeds, condemnation awards, or any escrowed amounts,
if applicable, to the reduction of the outstanding principal balance of this Note in the manner provided in the Deed of Trust, no Prepayment Fee shall be due or payable as a result of such application and the monthly installments due and payable
hereunder shall be reduced accordingly. 

  
 Page 3

	 	(c)	In the event the Maturity Date is accelerated by Lender at any time due to a default by Borrower in the payment of principal and/or interest due under this Note or in
the performance of the terms, covenants or conditions contained in this Note, the Deed of Trust or any of the other Loan Documents (as hereinafter defined), then a tender of payment in an amount necessary to satisfy the entire outstanding principal
balance of this Note together with all accrued unpaid interest hereon made by Borrower, or by anyone on behalf of Borrower, at any time prior to, at, or as a result of, a foreclosure sale or sale pursuant to power of sale, shall constitute a
voluntary prepayment hereunder prior to the contracted Maturity Date of this Note thus requiring the payment to Lender of a Prepayment Fee equal to the applicable Prepayment Fee as set forth in paragraph (a) above; provided, however, that in
the event such Prepayment Fee is construed to be interest under the laws of the State of Oregon in any circumstance, such payment shall not be required to the extent that the amount thereof, together with other interest payable hereunder, exceeds
the maximum rate of interest that may be lawfully charged under applicable law. 

  

	 	(d)	Notwithstanding anything contained herein to the contrary, during the ninety (90) day period immediately preceding the Maturity Date of this Note, the entire
outstanding principal balance and all accrued unpaid interest on this Note may be prepaid in whole, but not in part, at par, without incurring a Prepayment Fee. 

 

	 	(e)	Notwithstanding anything contained herein to the contrary, if Borrower accepts the Adjusted Interest Rate as provided in paragraph 2 above, Borrower shall have the
right to prepay a portion of the unpaid principal balance of this Note prior to the Rate Adjustment Date, without a Prepayment Fee, provided the remaining principal balance of this Note after the prepayment may not be less than $150,000.00. Any
partial prepayment must be received by Lender no less than thirty (30) days prior to the Rate Adjustment Date. Any partial prepayment will be applied to pay down the principal balance of this Note upon Lender’s receipt of such prepayment.
The then remaining principal balance of this Note will then be used to calculate the new monthly payment amount as described in paragraph 2(d) above. 

 4. Waiver. To the extent permitted by law, each and every Borrower, surety, guarantor, endorser or signator to this Note and any other party now or hereafter liable for the payment of this Note, in
whatever capacity, whether in whole or in part hereby (a) waives notice of intent to demand, presentment for payment, notice of demand, demand, notice of nonpayment, protest, notice of protest, notice of dishonor, notice of intent to
accelerate, notice of acceleration, and all other notices, filing of suit, and diligence in collecting this Note and/or enforcing any of the security herefor; (b) agrees that Lender shall not be required first to institute suit or exhaust its
remedies against Borrower or others liable or to become liable hereon or against the Property (as hereinafter defined), it being understood that Lender may exercise its rights hereunder and pursue its remedies in any order and at any time it
desires, and may do so, without notice to or consent of any such person, and without in any way diminishing the obligations of any such 

  
 Page 4

 
person; (c) consents to Lender dealing with any such person with reference to this Note by way of forbearance, extension, modification, compromise or otherwise; (d) consents and agrees
to any and all extensions, releases, renewals, partial payments, surrenders, exchanges, substitutions of security herefor, compromises, discharges or modifications and any other indulgence with respect to any right or obligation secured by or
provided by the Deed of Trust, Mortgage, or Deed to Secure Debt, as the case may be, securing this Note (“Deed of Trust”) or any other instrument securing this Note, before or after the maturity of this Note, without notice thereof to any
of them; or (e) consents and agrees that Lender may take any other action which Lender may deem reasonably appropriate to protect its security interest in the property securing this Note (“Property”). Any such action(s) taken under
the preceding sentence may be taken against one, all, or some of such persons, and Lender may take any such action against one differently than another of such persons, in Lender’s sole discretion. 

5. Default; Default Rate. Time is material and of the essence hereof with respect to the payment of any sums of any nature by and
the performance of all duties or obligations of the Borrower. Each of the following shall be an Event of Default under this Note: (a) failure to make any payment of principal and/or interest or any other payment required by the provisions of
this Note or of any instrument securing this Note on the date such payment or payments are due; (b) failure to perform any other provision of this Note or of any instrument securing this Note; (c) falsity in any material respect of the
warranties in the Deed of Trust or of any representation, warranty or information furnished by Borrower or its agents to Lender in connection with the loan evidenced by this Note (“Loan”); or (d) failure to pay or perform under any
Other Loan Documents (as described and defined in the Deed of Trust). Upon the occurrence of any Event of Default, any sum not paid as provided in this Note or in any instrument securing this Note, shall, at the option of Lender, without notice,
bear interest from such due date at a rate of interest (“Default Rate”) equal to four (4) percentage points per annum greater than the Note Rate, or the maximum rate of interest permitted by law, whichever is the lesser, and, at the
option of Lender, the unpaid balance of principal, accrued interest, plus any other sums due under this Note, or under any instrument securing this Note shall at once become due and payable, without notice except as described in paragraph 12, and
shall bear interest at the Default Rate. If an Event of Default occurs during a period of time in which prepayment is permitted only on payment of a prepayment fee, such fee shall be computed as if the sum declared due on default were a prepayment
and shall be added to the sums due and payable hereunder. 
 6. Late Charges. If any payment is not received by Lender
(or by the correspondent if a correspondent has been designated by Lender to receive payments) within five (5) calendar days after its due date, Lender, at its option, may assess a late charge equal to five cents for each $1.00 of each overdue
payment or the maximum late charge permitted by the laws of the state in which the Property is located, whichever is less. Such late charge shall be due and payable on demand, and Lender, at its option, may (a) refuse to accept any late payment
or any subsequent payment unless accompanied by such late charge, (b) add such late charge to the principal balance of this Note or (c) treat the failure to pay such late charge as demanded as an Event of Default hereunder. If such late
charge is added to the principal balance of this Note, it 

  
 Page 5

 
shall bear interest at the Default Rate. The late charge is compensation for damages suffered by Lender and does not constitute interest. 

7. Acknowledgments Regarding Default Rate, Late Charges and Prepayment Charges. 

 

	 	(a)	Borrower acknowledges and agrees that (i) a default in making the payments herein agreed to be paid when due will result in the Lender incurring additional expense
in servicing the Loan, loss to Lender of the use of the money due, and frustration to Lender in meeting its other commitments, (ii) if for any reason it fails to pay any amounts due hereunder, Lender shall be entitled to damages for the
detriment caused thereby, but that it is extremely difficult and impractical to ascertain the extent of such damages, and (iii) the Default Rate and the late charge described in this Note are a reasonable estimate of such damages.

  

	 	(b)	Borrower acknowledges and agrees that (i) prepayment prior to the maturity date may result in loss to Lender, (ii) the amount of the loss will depend on the
interest rates at the time of prepayment, the amount of principal prepaid and the length of time remaining between the prepayment date and the scheduled maturity date, (iii) prepayment is most likely to occur when interest rates have dropped
below the Note Rate, and (iv) because it is extremely difficult and impractical to ascertain now the amount of loss Lender may suffer in the event of prepayment, (A) Lender shall be entitled to damages for the loss caused by prepayment and
(B) the prepayment fee described in this Note is a reasonable measure of such damages. Borrower agrees that the prepayment fee described in this Note shall be imposed, to the extent permitted by law, whether the prepayment is voluntary,
involuntary or by operation of law, in connection with an Event of Default, or required by Lender in connection with a transfer or contract to transfer the Property, provided that no prepayment fee shall be added to sums prepaid with casualty
insurance proceeds or condemnation awards. 

  

	 	(c)	Borrower expressly (i) waives any right to prepay the Loan without payment of the prepayment fee described above in connection with a transfer or contract to
transfer the Property by Borrower, or a successor in interest of the undersigned, and (ii) agrees to pay such prepayment fee as provided above in connection with such a transfer or contract to transfer. 

 

	 	(d)	Borrower represents that it is a knowledgeable real estate investor and fully understands the effect of the fees, charges, waivers and agreements contained above.
Borrower acknowledges and agrees that the making of the Loan by Lender at the interest rate and with the other terms described herein is sufficient consideration for such fees, charges, waiver and agreement, and that Lender would not make this Loan
on these terms without such fees, charges, waiver and agreement. 

  
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 8. Expenses and Attorney Fees. If Lender refers this Note to an attorney for
collection or seeks legal advice following a default alleged in good faith under this Note; if Lender is the prevailing party in any litigation instituted in connection with this Note; or if Lender or any other person initiates any judicial or
nonjudicial action, suit or proceeding, including but not limited to a foreclosure sale, in connection with this Note or the security therefor, and an attorney is employed by Lender to (a) appear in any such action, suit or proceeding,
(b) reclaim, seek relief from a judicial or statutory stay, sequester, protect, preserve or enforce Lender’s interest in this Note, the Deed of Trust, or any other security for this Note (including but not limited to proceedings at
appellate levels, under federal bankruptcy law, in eminent domain, under probate proceedings, or in connection with any state or federal tax lien), or (c) assist Lender in any foreclosure sale, then, in any such event, Borrower shall pay
attorney’s fees and costs and expenses incurred by Lender and/or its attorney in connection with the above-mentioned events and any appeals or discretionary reviews related to such events, including but not limited to costs incurred in
searching records, the cost of title reports, the cost of appraisals, and the cost of surveyors’ reports. If not paid within ten days after such fees, costs and expenses become due and written demand for payment is made upon Borrower, such
amount may, at Lender’s option, be added to the principal of this Note and shall bear interest at the Default Rate. 
 9.
No Usury. In no event shall any payment of interest or any other sum payable hereunder both (a) violate the usury laws of the state in which the Property is located and (b) allow Borrower to bring a claim for usury or raise usury as
a defense in any action on this Note. If it is established that both (a) and (b) have occurred, and any payment exceeding lawful limits has been received, Lender shall refund such excess or, at its option, credit the excess amount to
principal, but such payments shall not affect the obligation to make periodic payments required herein. 
 10. Security.
The indebtedness evidenced by this Note is secured by the Deed of Trust, Mortgage, or Deed to Secure Debt, as applicable (“Deed of Trust”), of even date and may be secured by other security instruments. 

11. Due on Sale or Encumbrance. As provided in the Deed of Trust securing this Note, and subject to any exceptions provided
therein, transfers or encumbrances of the Property, or of ownership interests in Borrower, cause all sums evidenced by this Note and/or secured by the Deed of Trust or by any other Loan Document to become immediately due and payable. By signing this
Note, Borrower acknowledges that Borrower has received and reviewed a copy of the Deed of Trust and is familiar with the provisions restricting the transfer of the Property and the ownership interests therein and assumptions of the Loan. 

12. Notice and Opportunity to Cure. Notwithstanding any other provision of this Note, Lender shall not accelerate the sums
evidenced hereby because of a nonmonetary default (defined below) by Borrower unless Borrower fails to cure the default within fifteen (15) days of the earlier of the date on which Lender mails or delivers written notice of the default to
Borrower. For purposes of this Note, the term “nonmonetary default” means a failure by Borrower or any other person or entity to perform any obligation contained in this Note or any other document or instrument evidencing or securing the
Loan (collectively, “Loan 

  
 Page 7

 
Documents”), other than the obligation to make payments provided for in this Note or any other Loan Document. If a nonmonetary default is capable of being cured and the cure cannot
reasonably be completed within the fifteen (15) day cure period, the cure period shall be extended up to sixty (60) days so long as Borrower has commenced action to cure within the fifteen (15) day cure period, and in Lender’s
opinion, Borrower is proceeding to cure the default with due diligence. No notice of default and no opportunity to cure shall be required if during any 12-month period Lender has already sent a notice to Borrower concerning default in the
performance of the same obligation. None of the foregoing shall be construed to obligate Lender to forebear in any other manner from exercising its remedies and Lender may pursue any other rights or remedies which Lender may have because of a
default. 
 13. Commercial Purpose. The obligation evidenced by this Note is exclusively for commercial or business
purposes. 
 14. Notices. All notices required or permitted under this Note shall be in writing and may be telecopies,
cabled, delivered by hand, or mailed by first class registered or certified mail, return receipt requested, postage prepaid, and addressed as follows: 
 If to Lender: 
 STANDARD INSURANCE COMPANY 

c/o StanCorp Mortgage Investors, LLC 
 Attn: Mortgage Loan Servicing T3A 
 19225 NW Tanasbourne Drive

 Hillsboro, OR 97124 
 If to Borrower: 
 VITRAN TENNESSEE, LLC 

Attn: Chris Keylon 
 P.O. Box 1290 (for U.S.P.S. mail delivery) 
 2850 Kramer Road (for
courier or other delivery) 
 Gibsonia, PA 15044 

Changes in the respective addresses to which such notices shall be directed may be from time to time by either party by notice to the
other party given at least ten (10) days before such change of address is to become effective. Notices given by mail in accordance with this provision shall be deemed to have been given three (3) days after the date of dispatch; notices
given by any other means shall be deemed to have been given when received. 
 15. Choice of Law, Jurisdiction and Venue;
Enforceability; Severability. Except for matters relating to the validity and/or enforcement of the security interest of Lender in the Property, which shall be determined in accordance with the applicable laws of the state in which the affected
Property is situated, the law of the state of Oregon shall govern the validity, interpretation, construction, performance and enforcement of this Note and any and all other 

  
 Page 8

 
Loan Documents. If, for any reason or to any extent any word, term, provision, or clause of this Note or any of the other Loan Documents, or its application to any person or situation, shall be
found by a court or other adjudicating authority to be invalid or unenforceable, the remaining words, terms, provisions, or clauses shall be enforced, and the affected work, term, clause, or provision shall be applied, to the fullest extent
permitted by law. Borrower irrevocably submits to the jurisdiction of Multnomah County state or Portland, Oregon federal court in any action or proceeding brought to enforce or otherwise arising out of or relating to this Note or any of the
other Loan Documents, and waives any claim that such forum is inappropriate and/or an inconvenient forum. 
 16. Successors
and Assigns. Whenever used herein, the words “undersigned”, “Borrower” and “Lender” shall be deemed to include their respective heirs, devisees, executors, administrators, personal representatives, successors and
assigns. 
 NOTICES TO BORROWER 
 DO NOT SIGN THIS NOTE BEFORE YOU READ IT. THIS NOTE PROVIDES FOR THE PAYMENT OF A FEE IF THIS NOTE IS PREPAID PRIOR TO THE DATE PROVIDED FOR REPAYMENT IN THIS NOTE AND OTHER CHARGES IF PAYMENTS ARE
LATE. IF YOU HAVE ANY QUESTIONS ABOUT THIS NOTE, YOU SHOULD CONSULT YOUR ATTORNEY. 
 ORS 41.580 Disclosure. UNDER OREGON
LAW, MOST AGREEMENTS, PROMISES AND COMMITMENTS BY LENDER, CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES, OR SECURED SOLELY BY THE BORROWER’S RESIDENCE MUST BE IN WRITING, EXPRESS
CONSIDERATION AND BE SIGNED BY AN AUTHORIZED REPRESENTATIVE OF LENDER TO BE ENFORCEABLE. 
 BORROWER: 

VITRAN TENNESSEE, LLC, 
 a
Delaware limited liability company 
  

			
	By:	 	 /s/ CHRIS KEYLON

		 	CHRIS KEYLON
		 	Its: Authorized Manager

  
 Page 9

 SIC Loan No. B2110714 

NOTE 
  

					
	$1,030,000.00	  	 	January 15, 2013	  

 FOR VALUE RECEIVED, the undersigned, VITRAN TEXAS, LLC, a Delaware limited liability company
(“Borrower”), promises to pay in lawful money of the United States, to the order of STANDARD INSURANCE COMPANY, an Oregon corporation (together with any assigns, collectively, “Lender”), at its office in Hillsboro, Oregon,
or such other place as Lender may designate, the principal amount of a loan (“Loan”) of One Million Thirty Thousand and No/100ths Dollars ($1,030,000.00), together with interest thereon, on the following agreements, terms and
conditions. 
 1. Payments. Borrower shall make monthly payments of principal and interest to Lender, in amounts
sufficient to fully amortize the principal balance of this Note over a fifteen (15) year amortization period in substantially equal monthly payments. Such monthly payments of principal and interest shall be in the initial amount of Seven
Thousand Nine Hundred Forty-Six and No/100ths Dollars ($7,946.00) payable on the first day of each month, commencing with the first day of March, 2013, together with such other sums as may become due hereunder or under any
instrument securing this Note, until the entire indebtedness is fully paid, except that any remaining indebtedness if not sooner paid shall be finally due and payable on the first day of February, 2028, which is the maturity date of this Note
(“Maturity Date”). The monthly payment amount will change after each Rate Adjustment Date (as defined in Paragraph 2) to an amount sufficient to repay the then unpaid principal balance of this Note in full at the then current interest
rate, in substantially equal monthly payments over the balance of the amortization period specified above. If applicable, until the payment is again changed, Borrower shall pay the new monthly payment each month beginning on the first day of the
first calendar month after the applicable Rate Adjustment Date. Lender will mail or deliver to Borrower a notice of any changes in the interest rate applicable to this Note, and any resulting changes in the monthly payments required under this Note,
prior to the date the first payment is due after the applicable Rate Adjustment Date. Every payment received with respect hereto shall be applied, in any order that may be determined by Lender in its sole discretion, to sums under this Note,
including, without limitation: (a) late charges; (b) expenses paid or funds advanced by Lender with interest thereon at the Default Rate when applicable (as hereinafter defined); (c) any prepayment fees due with respect to any payment
and any other fees which may remain unpaid; (d) accrued interest on the principal balance from time to time remaining unpaid; and (e) subject to the prepayment provisions herein, the principal balance hereunder. 

2. Interest. The interest rate applicable to this Note will change on the applicable Rate Adjustment Dates. Interest shall be
calculated on the basis of a 360-day year consisting of twelve 30-day months, except that interest due and payable for a period of less than a full month and/or any prepayment shall be calculated on an actual accrual method. The initial interest
rate included in the aforesaid payments, unless adjusted as otherwise provided in this Note, shall be calculated at the rate of Four and Five-Eighths percent (4.625%) per annum (“Note Rate”) upon the unpaid balance of
principal of this Note. Borrower, jointly and severally, also promises 

  
 Page 1

 
to pay interest at the Note Rate from the date of disbursement of the Loan proceeds evidenced by this Note (“Disbursement Date”) to the date from which interest is included in the first
payment previously described. As used herein, “Rate Adjustment Date(s)” shall be as follows: 
  

	 	•	 	 35 months from the First Payment Date; 

  

	 	•	 	 71 months from the First Payment Date; 

  

	 	•	 	 107 months from the First Payment Date; 

  

	 	•	 	 143 months from the First Payment Date. 

  

	 	(a)	One hundred and twenty (120) days prior to each Rate Adjustment Date, Lender will notify Borrower in writing of the Adjusted Interest Rate that will become
effective in accordance with this Note. The “Adjusted Interest Rate” will be Lender’s then prevailing annual interest rate for similar loans then being originated by Lender with a similar term (equal to the period between the Rate
Adjustment Date and the earlier of the next Rate Adjustment Date or the Maturity Date) then being originated by Lender on properties comparable to the Property (as herein defined) as determined solely by Lender. 

 

	 	(a)	Borrower shall have thirty (30) days from the date of receipt of such notification from Lender to accept or reject the Adjusted Interest Rate. Failure by Borrower
to notify Lender of the acceptance or rejection of the Adjusted Interest Rate within such thirty (30) day period shall be deemed to be a rejection of the Adjusted Interest Rate. If the Adjusted Interest Rate is rejected by Borrower (or deemed
rejected), the entire unpaid principal balance of this Note, all accrued unpaid interest hereon, and any other amounts payable hereunder or under the other Loan Documents (as hereinafter defined) shall be due and payable in full, without a
Prepayment Fee, no later than the Rate Adjustment Date. 

  

	 	(b)	If Borrower accepts the Adjusted Interest Rate for the offered period, the Adjusted Interest Rate shall become effective on the Rate Adjustment Date and monthly
installments of principal and interest shall then be due and payable in an amount to be determined that will amortize the remaining unpaid principal balance of this Note at the Adjusted Interest Rate over the remaining amortization period. In such
case, Borrower shall also have the option to prepay a portion of the remaining unpaid principal balance of this Note as described in paragraph 3(e) below. 

  

	 	(c)	Thereafter, monthly installments of principal and interest on the unpaid principal balance of this Note, at the Adjusted Interest Rate, in the amount thus calculated,
shall be due and payable in consecutive monthly installments commencing on the first day of the calendar month after the Rate Adjustment Date and continuing on the first day of each calendar month thereafter, to and including the monthly installment
of principal and interest due and payable on the earlier of the next Rate Adjustment Date or the Maturity Date. 

  
 Page 2

 3. Prepayment Restrictions; Fees. Borrower shall have the right to
prepay, in full but not in part, the obligation evidenced by this Note upon giving Lender (i) not less than thirty (30) days’ prior written notice of (a) Borrower’s intention to so prepay this Note, and (b) the date
upon which such prepayment will be received by Lender (“Prepayment Date”), and (ii) payment to Lender of the Prepayment Fee (as hereinafter defined), if any, then due to Lender as hereinafter provided. 

 

	 	(a)	As used herein, the term “Prepayment Fee” shall mean an amount which is the greater of 

 

	 	(i)	one percent (1%) of the outstanding principal balance of this Note at the time of prepayment, or 

 

	 	(ii)	the sum of 

  

	 	(A)	the Present Value (as hereinafter defined) of the scheduled monthly payments due under this Note from the Prepayment Date to the earlier of the next Rate Adjustment
Date or the Maturity Date. 

  

	 	(B)	the Present Value of the amount of principal and interest due under this Note on the earlier of the next Rate Adjustment Date or the Maturity Date (assuming all
scheduled monthly payments due prior to such dates were made when due), minus 

  

	 	(C)	the outstanding principal balance of this Note as of the Prepayment Date. 

 The “Present Values” described in (A) and (B) shall be computed on a monthly basis as of the Prepayment Date discounted at a rate equal to the yield-to-maturity of the U.S. Treasury
Note or Bond closest in maturity to the earlier of the next Rate Adjustment Date or the Maturity Date as reported in The Wall Street Journal (or, if The Wall Street Journal is no longer published, as reported in such other daily financial
publication of national circulation which shall be designated by Lender) on the fifth business day preceding the Prepayment Date. Borrower shall be obligated to prepay this Note on the Prepayment Date set forth in the written notice to Lender
required hereinabove, after such notice has been delivered to Lender. 
  

	 	(b)	Notwithstanding the foregoing or any other provision herein to the contrary, if Lender elects to apply insurance proceeds, condemnation awards, or any escrowed amounts,
if applicable, to the reduction of the outstanding principal balance of this Note in the manner provided in the Deed of Trust, no Prepayment Fee shall be due or payable as a result of such application and the monthly installments due and payable
hereunder shall be reduced accordingly. 

  
 Page 3

	 	(c)	In the event the Maturity Date is accelerated by Lender at any time due to a default by Borrower in the payment of principal and/or interest due under this Note or in
the performance of the terms, covenants or conditions contained in this Note, the Deed of Trust or any of the other Loan Documents (as hereinafter defined), then a tender of payment in an amount necessary to satisfy the entire outstanding principal
balance of this Note together with all accrued unpaid interest hereon made by Borrower, or by anyone on behalf of Borrower, at any time prior to, at, or as a result of, a foreclosure sale or sale pursuant to power of sale, shall constitute a
voluntary prepayment hereunder prior to the contracted Maturity Date of this Note thus requiring the payment to Lender of a Prepayment Fee equal to the applicable Prepayment Fee as set forth in paragraph (a) above; provided, however, that in
the event such Prepayment Fee is construed to be interest under the laws of the State of Oregon in any circumstance, such payment shall not be required to the extent that the amount thereof, together with other interest payable hereunder, exceeds
the maximum rate of interest that may be lawfully charged under applicable law. 

  

	 	(d)	Notwithstanding anything contained herein to the contrary, during the ninety (90) day period immediately preceding the Maturity Date of this Note, the entire
outstanding principal balance and all accrued unpaid interest on this Note may be prepaid in whole, but not in part, at par, without incurring a Prepayment Fee. 

 

	 	(e)	Notwithstanding anything contained herein to the contrary, if Borrower accepts the Adjusted Interest Rate as provided in paragraph 2 above, Borrower shall have the
right to prepay a portion of the unpaid principal balance of this Note prior to the Rate Adjustment Date, without a Prepayment Fee, provided the remaining principal balance of this Note after the prepayment may not be less than $150,000.00. Any
partial prepayment must be received by Lender no less than thirty (30) days prior to the Rate Adjustment Date. Any partial prepayment will be applied to pay down the principal balance of this Note upon Lender’s receipt of such prepayment.
The then remaining principal balance of this Note will then be used to calculate the new monthly payment amount as described in paragraph 2(d) above. 

 4. Waiver. To the extent permitted by law, each and every Borrower, surety, guarantor, endorser or signator to this Note and any other party now or hereafter liable for the payment of this Note, in
whatever capacity, whether in whole or in part hereby (a) waives notice of intent to demand, presentment for payment, notice of demand, demand, notice of nonpayment, protest, notice of protest, notice of dishonor, notice of intent to
accelerate, notice of acceleration, and all other notices, filing of suit, and diligence in collecting this Note and/or enforcing any of the security herefor; (b) agrees that Lender shall not be required first to institute suit or exhaust its
remedies against Borrower or others liable or to become liable hereon or against the Property (as hereinafter defined), it being understood that Lender may exercise its rights hereunder and pursue its remedies in any order and at any time it
desires, and may do so, without notice to or 

  
 Page 4

 
consent of any such person, and without in any way diminishing the obligations of any such person; (c) consents to Lender dealing with any such person with reference to this Note by way of
forbearance, extension, modification, compromise or otherwise; (d) consents and agrees to any and all extensions, releases, renewals, partial payments, surrenders, exchanges, substitutions of security herefor, compromises, discharges or
modifications and any other indulgence with respect to any right or obligation secured by or provided by the Deed of Trust, Mortgage, or Deed to Secure Debt, as the case may be, securing this Note (“Deed of Trust”) or any other instrument
securing this Note, before or after the maturity of this Note, without notice thereof to any of them; or (e) consents and agrees that Lender may take any other action which Lender may deem reasonably appropriate to protect its security interest
in the property securing this Note (“Property”). Any such action(s) taken under the preceding sentence may be taken against one, all, or some of such persons, and Lender may take any such action against one differently than another of such
persons, in Lender’s sole discretion. 
 5. Default; Default Rate. Time is material and of the essence hereof with
respect to the payment of any sums of any nature by and the performance of all duties or obligations of the Borrower. Each of the following shall be an Event of Default under this Note: (a) failure to make any payment of principal and/or
interest or any other payment required by the provisions of this Note or of any instrument securing this Note on the date such payment or payments are due; (b) failure to perform any other provision of this Note or of any instrument securing
this Note; (c) falsity in any material respect of the warranties in the Deed of Trust or of any representation, warranty or information furnished by Borrower or its agents to Lender in connection with the loan evidenced by this Note
(“Loan”); or (d) failure to pay or perform under any Other Loan Documents (as described and defined in the Deed of Trust). Upon the occurrence of any Event of Default, any sum not paid as provided in this Note or in any instrument
securing this Note, shall, at the option of Lender, without notice, bear interest from such due date at a rate of interest (“Default Rate”) equal to four (4) percentage points per annum greater than the Note Rate, or the maximum rate
of interest permitted by law, whichever is the lesser, and, at the option of Lender, the unpaid balance of principal, accrued interest, plus any other sums due under this Note, or under any instrument securing this Note shall at once become due and
payable, without notice except as described in paragraph 12, and shall bear interest at the Default Rate. If an Event of Default occurs during a period of time in which prepayment is permitted only on payment of a prepayment fee, such fee shall be
computed as if the sum declared due on default were a prepayment and shall be added to the sums due and payable hereunder. 
 6.
Late Charges. If any payment is not received by Lender (or by the correspondent if a correspondent has been designated by Lender to receive payments) within five (5) calendar days after its due date, Lender, at its option, may assess a
late charge equal to five cents for each $1.00 of each overdue payment or the maximum late charge permitted by the laws of the state in which the Property is located, whichever is less. Such late charge shall be due and payable on demand, and
Lender, at its option, may (a) refuse to accept any late payment or any subsequent payment unless accompanied by such late charge, (b) add such late charge to the principal balance of this Note or (c) treat the failure to pay such
late charge as demanded as an Event of Default hereunder. If such late charge is added to the principal balance of this Note, it 

  
 Page 5

 
shall bear interest at the Default Rate. The late charge is compensation for damages suffered by Lender and does not constitute interest. 

7. Acknowledgments Regarding Default Rate, Late Charges and Prepayment Charges. 

 

	 	(a)	Borrower acknowledges and agrees that (i) a default in making the payments herein agreed to be paid when due will result in the Lender incurring additional expense
in servicing the Loan, loss to Lender of the use of the money due, and frustration to Lender in meeting its other commitments, (ii) if for any reason it fails to pay any amounts due hereunder, Lender shall be entitled to damages for the
detriment caused thereby, but that it is extremely difficult and impractical to ascertain the extent of such damages, and (iii) the Default Rate and the late charge described in this Note are a reasonable estimate of such damages.

  

	 	(b)	Borrower acknowledges and agrees that (i) prepayment prior to the maturity date may result in loss to Lender, (ii) the amount of the loss will depend on the
interest rates at the time of prepayment, the amount of principal prepaid and the length of time remaining between the prepayment date and the scheduled maturity date, (iii) prepayment is most likely to occur when interest rates have dropped
below the Note Rate, and (iv) because it is extremely difficult and impractical to ascertain now the amount of loss Lender may suffer in the event of prepayment, (A) Lender shall be entitled to damages for the loss caused by prepayment and
(B) the prepayment fee described in this Note is a reasonable measure of such damages. Borrower agrees that the prepayment fee described in this Note shall be imposed, to the extent permitted by law, whether the prepayment is voluntary,
involuntary or by operation of law, in connection with an Event of Default, or required by Lender in connection with a transfer or contract to transfer the Property, provided that no prepayment fee shall be added to sums prepaid with casualty
insurance proceeds or condemnation awards. 

  

	 	(c)	Borrower expressly (i) waives any right to prepay the Loan without payment of the prepayment fee described above in connection with a transfer or contract to
transfer the Property by Borrower, or a successor in interest of the undersigned, and (ii) agrees to pay such prepayment fee as provided above in connection with such a transfer or contract to transfer. 

 

	 	(d)	Borrower represents that it is a knowledgeable real estate investor and fully understands the effect of the fees, charges, waivers and agreements contained above.
Borrower acknowledges and agrees that the making of the Loan by Lender at the interest rate and with the other terms described herein is sufficient consideration for such fees, charges, waiver and agreement, and that Lender would not make this Loan
on these terms without such fees, charges, waiver and agreement. 

  
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 8. Expenses and Attorney Fees. If Lender refers this Note to an attorney for
collection or seeks legal advice following a default alleged in good faith under this Note; if Lender is the prevailing party in any litigation instituted in connection with this Note; or if Lender or any other person initiates any judicial or
nonjudicial action, suit or proceeding, including but not limited to a foreclosure sale, in connection with this Note or the security therefor, and an attorney is employed by Lender to (a) appear in any such action, suit or proceeding,
(b) reclaim, seek relief from a judicial or statutory stay, sequester, protect, preserve or enforce Lender’s interest in this Note, the Deed of Trust, or any other security for this Note (including but not limited to proceedings at
appellate levels, under federal bankruptcy law, in eminent domain, under probate proceedings, or in connection with any state or federal tax lien), or (c) assist Lender in any foreclosure sale, then, in any such event, Borrower shall pay
attorney’s fees and costs and expenses incurred by Lender and/or its attorney in connection with the above-mentioned events and any appeals or discretionary reviews related to such events, including but not limited to costs incurred in
searching records, the cost of title reports, the cost of appraisals, and the cost of surveyors’ reports. If not paid within ten days after such fees, costs and expenses become due and written demand for payment is made upon Borrower, such
amount may, at Lender’s option, be added to the principal of this Note and shall bear interest at the Default Rate. 
 9.
No Usury. In no event shall any payment of interest or any other sum payable hereunder both (a) violate the usury laws of the state in which the Property is located and (b) allow Borrower to bring a claim for usury or raise usury as
a defense in any action on this Note. If it is established that both (a) and (b) have occurred, and any payment exceeding lawful limits has been received, Lender shall refund such excess or, at its option, credit the excess amount to
principal, but such payments shall not affect the obligation to make periodic payments required herein. 
 10. Security.
The indebtedness evidenced by this Note is secured by the Deed of Trust, Mortgage, or Deed to Secure Debt, as applicable (“Deed of Trust”), of even date and may be secured by other security instruments. 

11. Due on Sale or Encumbrance. As provided in the Deed of Trust securing this Note, and subject to any exceptions provided
therein, transfers or encumbrances of the Property, or of ownership interests in Borrower, cause all sums evidenced by this Note and/or secured by the Deed of Trust or by any other Loan Document to become immediately due and payable. By signing this
Note, Borrower acknowledges that Borrower has received and reviewed a copy of the Deed of Trust and is familiar with the provisions restricting the transfer of the Property and the ownership interests therein and assumptions of the Loan. 

12. Notice and Opportunity to Cure. Notwithstanding any other provision of this Note, Lender shall not accelerate the sums
evidenced hereby because of a nonmonetary default (defined below) by Borrower unless Borrower fails to cure the default within fifteen (15) days of the earlier of the date on which Lender mails or delivers written notice of the default to
Borrower. For purposes of this Note, the term “nonmonetary default” means a failure by Borrower or any other person or entity to perform any obligation contained in this Note or any other document or instrument evidencing or securing the
Loan (collectively, “Loan 

  
 Page 7

 
Documents”), other than the obligation to make payments provided for in this Note or any other Loan Document. If a nonmonetary default is capable of being cured and the cure cannot
reasonably be completed within the fifteen (15) day cure period, the cure period shall be extended up to sixty (60) days so long as Borrower has commenced action to cure within the fifteen (15) day cure period, and in Lender’s
opinion, Borrower is proceeding to cure the default with due diligence. No notice of default and no opportunity to cure shall be required if during any 12-month period Lender has already sent a notice to Borrower concerning default in the
performance of the same obligation. None of the foregoing shall be construed to obligate Lender to forebear in any other manner from exercising its remedies and Lender may pursue any other rights or remedies which Lender may have because of a
default. 
 13. Commercial Purpose. The obligation evidenced by this Note is exclusively for commercial or business
purposes. 
 14. Notices. All notices required or permitted under this Note shall be in writing and may be
telecopies, cabled, delivered by hand, or mailed by first class registered or certified mail, return receipt requested, postage prepaid, and addressed as follows: 
 If to Lender: 
 STANDARD INSURANCE COMPANY 

c/o StanCorp Mortgage Investors, LLC 
 Attn: Mortgage Loan Servicing T3A 
 19225 NW Tanasbourne Drive

 Hillsboro, OR 97124 
 If to Borrower: 
 VITRAN TEXAS, LLC 

Attn: Chris Keylon 
 P.O. Box 1290 (for U.S.P.S. mail delivery) 
 2850 Kramer Road (for
courier or other delivery) 
 Gibsonia, PA 15044 

Changes in the respective addresses to which such notices shall be directed may be from time to time by either party by notice to the
other party given at least ten (10) days before such change of address is to become effective. Notices given by mail in accordance with this provision shall be deemed to have been given three (3) days after the date of dispatch; notices
given by any other means shall be deemed to have been given when received. 
 15. Choice of Law, Jurisdiction and Venue;
Enforceability; Severability. Except for matters relating to the validity and/or enforcement of the security interest of Lender in the Property, which shall be determined in accordance with the applicable laws of the state in which the affected
Property is situated, the law of the state of Oregon shall govern the validity, interpretation, construction, performance and enforcement of this Note and any and all other 

  
 Page 8

 
Loan Documents. If, for any reason or to any extent any word, term, provision, or clause of this Note or any of the other Loan Documents, or its application to any person or situation, shall be
found by a court or other adjudicating authority to be invalid or unenforceable, the remaining words, terms, provisions, or clauses shall be enforced, and the affected work, term, clause, or provision shall be applied, to the fullest extent
permitted by law. Borrower irrevocably submits to the jurisdiction of Multnomah County state or Portland, Oregon federal court in any action or proceeding brought to enforce or otherwise arising out of or relating to this Note or any of the
other Loan Documents, and waives any claim that such forum is inappropriate and/or an inconvenient forum. 
 16. Successors
and Assigns. Whenever used herein, the words “undersigned”, “Borrower” and “Lender” shall be deemed to include their respective heirs, devisees, executors, administrators, personal representatives, successors and
assigns. 
 NOTICES TO BORROWER 
 DO NOT SIGN THIS NOTE BEFORE YOU READ IT. THIS NOTE PROVIDES FOR THE PAYMENT OF A FEE IF THIS NOTE IS PREPAID PRIOR TO THE DATE PROVIDED FOR REPAYMENT IN THIS NOTE AND OTHER CHARGES IF PAYMENTS ARE
LATE. IF YOU HAVE ANY QUESTIONS ABOUT THIS NOTE, YOU SHOULD CONSULT YOUR ATTORNEY. 
 ORS 41.580 Disclosure. UNDER OREGON
LAW, MOST AGREEMENTS, PROMISES AND COMMITMENTS BY LENDER, CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES, OR SECURED SOLELY BY THE BORROWER’S RESIDENCE MUST BE IN WRITING, EXPRESS
CONSIDERATION AND BE SIGNED BY AN AUTHORIZED REPRESENTATIVE OF LENDER TO BE ENFORCEABLE. 
 BORROWER: 

VITRAN TEXAS, LLC, 
 a Delaware
limited liability company 
  

			
	By:	 	 /s/ CHRIS KEYLON

		 	CHRIS KEYLON
		 	Its: Authorized Manager

  
 Page 9

 SIC Loan No. B2110712 

NOTE 
  

			
	$1,060,000.00	  	December 19, 2012

 FOR VALUE RECEIVED, the undersigned, VITRAN TEXAS, LLC, a Delaware limited liability company
(“Borrower”), promises to pay in lawful money of the United States, to the order of STANDARD INSURANCE COMPANY, an Oregon corporation (together with any assigns, collectively, “Lender”), at its office in Hillsboro, Oregon,
or such other place as Lender may designate, the principal amount of a loan (“Loan”) of One Million Sixty Thousand and No/100ths Dollars ($1,060,000.00), together with interest thereon, on the following agreements, terms and
conditions. 
 1. Payments. Borrower shall make monthly payments of principal and interest to Lender, in amounts
sufficient to fully amortize the principal balance of this Note over a fifteen (15) year amortization period in substantially equal monthly payments. Such monthly payments of principal and interest shall be in the initial amount of Eight
Thousand One Hundred Seventy-Seven and No/100ths Dollars ($8,177.00) payable on the first day of each month, commencing with the first day of February, 2013, together with such other sums as may become due hereunder or under
any instrument securing this Note, until the entire indebtedness is fully paid, except that any remaining indebtedness if not sooner paid shall be finally due and payable on the first day of January, 2028, which is the maturity date of
this Note (“Maturity Date”). The monthly payment amount will change after each Rate Adjustment Date (as defined in Paragraph 2) to an amount sufficient to repay the then unpaid principal balance of this Note in full at the then current
interest rate, in substantially equal monthly payments over the balance of the amortization period specified above. If applicable, until the payment is again changed, Borrower shall pay the new monthly payment each month beginning on the first day
of the first calendar month after the applicable Rate Adjustment Date. Lender will mail or deliver to Borrower a notice of any changes in the interest rate applicable to this Note, and any resulting changes in the monthly payments required under
this Note, prior to the date the first payment is due after the applicable Rate Adjustment Date. Every payment received with respect hereto shall be applied, in any order that may be determined by Lender in its sole discretion, to sums under this
Note, including, without limitation: (a) late charges; (b) expenses paid or funds advanced by Lender with interest thereon at the Default Rate when applicable (as hereinafter defined); (c) any prepayment fees due with respect to any
payment and any other fees which may remain unpaid; (d) accrued interest on the principal balance from time to time remaining unpaid; and (e) subject to the prepayment provisions herein, the principal balance hereunder. 

2. Interest. The interest rate applicable to this Note will change on the applicable Rate Adjustment Dates. Interest shall be
calculated on the basis of a 360-day year consisting of twelve 30-day months, except that interest due and payable for a period of less than a full month and/or any prepayment shall be calculated on an actual accrual method. The initial interest
rate included in the aforesaid payments, unless adjusted as otherwise provided in this Note, shall be calculated at the rate of Four and Five-Eighths percent (4.625%) per annum (“Note Rate”) upon the unpaid balance of
principal of this Note. Borrower, jointly and severally, also promises 

  
 Page 1

 
to pay interest at the Note Rate from the date of disbursement of the Loan proceeds evidenced by this Note (“Disbursement Date”) to the date from which interest is included in the first
payment previously described. As used herein, “Rate Adjustment Date(s)” shall be as follows: 
  

	 	•	 	 35 months from the First Payment Date; 

  

	 	•	 	 71 months from the First Payment Date; 

  

	 	•	 	 107 months from the First Payment Date; 

  

	 	•	 	 143 months from the First Payment Date. 

  

	 	(a)	One hundred and twenty (120) days prior to each Rate Adjustment Date, Lender will notify Borrower in writing of the Adjusted Interest Rate that will become
effective in accordance with this Note. The “Adjusted Interest Rate” will be Lender's then prevailing annual interest rate for similar loans then being originated by Lender with a similar term (equal to the period between the Rate
Adjustment Date and the earlier of the next Rate Adjustment Date or the Maturity Date) then being originated by Lender on properties comparable to the Property (as herein defined) as determined solely by Lender. 

 

	 	(b)	Borrower shall have thirty (30) days from the date of receipt of such notification from Lender to accept or reject the Adjusted Interest Rate. Failure by Borrower
to notify Lender of the acceptance or rejection of the Adjusted Interest Rate within such thirty (30) day period shall be deemed to be a rejection of the Adjusted Interest Rate. If the Adjusted Interest Rate is rejected by Borrower (or deemed
rejected), the entire unpaid principal balance of this Note, all accrued unpaid interest hereon, and any other amounts payable hereunder or under the other Loan Documents (as hereinafter defined) shall be due and payable in full, without a
Prepayment Fee, no later than the Rate Adjustment Date. 

  

	 	(c)	If Borrower accepts the Adjusted Interest Rate for the offered period, the Adjusted Interest Rate shall become effective on the Rate Adjustment Date and monthly
installments of principal and interest shall then be due and payable in an amount to be determined that will amortize the remaining unpaid principal balance of this Note at the Adjusted Interest Rate over the remaining amortization period. In such
case, Borrower shall also have the option to prepay a portion of the remaining unpaid principal balance of this Note as described in paragraph 3(e) below. 

  

	 	(d)	Thereafter, monthly installments of principal and interest on the unpaid principal balance of this Note, at the Adjusted Interest Rate, in the amount thus calculated,
shall be due and payable in consecutive monthly installments commencing on the first day of the calendar month after the Rate Adjustment Date and continuing on the first day of each calendar month thereafter, to and including the monthly installment
of principal and interest due and payable on the earlier of the next Rate Adjustment Date or the Maturity Date. 

  
 Page 2

 3. Prepayment Restrictions; Fees. Borrower shall have the right to
prepay, in full but not in part, the obligation evidenced by this Note upon giving Lender (i) not less than thirty (30) days’ prior written notice of (a) Borrower’s intention to so prepay this Note, and (b) the date
upon which such prepayment will be received by Lender (“Prepayment Date”), and (ii) payment to Lender of the Prepayment Fee (as hereinafter defined), if any, then due to Lender as hereinafter provided. 

 

	 	(a)	As used herein, the term “Prepayment Fee” shall mean an amount which is the greater of 

 

	 	(i)	one percent (1%) of the outstanding principal balance of this Note at the time of prepayment, or 

 

	 	(ii)	the sum of 

  

	 	(A)	the Present Value (as hereinafter defined) of the scheduled monthly payments due under this Note from the Prepayment Date to the earlier of the next Rate Adjustment
Date or the Maturity Date. 

  

	 	(B)	the Present Value of the amount of principal and interest due under this Note on the earlier of the next Rate Adjustment Date or the Maturity Date (assuming all
scheduled monthly payments due prior to such dates were made when due), minus 

  

	 	(C)	the outstanding principal balance of this Note as of the Prepayment Date. 

 The “Present Values” described in (A) and (B) shall be computed on a monthly basis as of the Prepayment Date discounted at a rate equal to the yield-to-maturity of the U.S. Treasury
Note or Bond closest in maturity to the earlier of the next Rate Adjustment Date or the Maturity Date as reported in The Wall Street Journal (or, if The Wall Street Journal is no longer published, as reported in such other daily financial
publication of national circulation which shall be designated by Lender) on the fifth business day preceding the Prepayment Date. Borrower shall be obligated to prepay this Note on the Prepayment Date set forth in the written notice to Lender
required hereinabove, after such notice has been delivered to Lender. 
  

	 	(b)	Notwithstanding the foregoing or any other provision herein to the contrary, if Lender elects to apply insurance proceeds, condemnation awards, or any escrowed amounts,
if applicable, to the reduction of the outstanding principal balance of this Note in the manner provided in the Deed of Trust, no Prepayment Fee shall be due or payable as a result of such application and the monthly installments due and payable
hereunder shall be reduced accordingly. 

  
 Page 3

	 	(c)	In the event the Maturity Date is accelerated by Lender at any time due to a default by Borrower in the payment of principal and/or interest due under this Note or in
the performance of the terms, covenants or conditions contained in this Note, the Deed of Trust or any of the other Loan Documents (as hereinafter defined), then a tender of payment in an amount necessary to satisfy the entire outstanding principal
balance of this Note together with all accrued unpaid interest hereon made by Borrower, or by anyone on behalf of Borrower, at any time prior to, at, or as a result of, a foreclosure sale or sale pursuant to power of sale, shall constitute a
voluntary prepayment hereunder prior to the contracted Maturity Date of this Note thus requiring the payment to Lender of a Prepayment Fee equal to the applicable Prepayment Fee as set forth in paragraph (a) above; provided, however, that in
the event such Prepayment Fee is construed to be interest under the laws of the State of Oregon in any circumstance, such payment shall not be required to the extent that the amount thereof, together with other interest payable hereunder, exceeds
the maximum rate of interest that may be lawfully charged under applicable law. 

  

	 	(d)	Notwithstanding anything contained herein to the contrary, during the ninety (90) day period immediately preceding the Maturity Date of this Note, the entire
outstanding principal balance and all accrued unpaid interest on this Note may be prepaid in whole, but not in part, at par, without incurring a Prepayment Fee. 

 

	 	(e)	Notwithstanding anything contained herein to the contrary, if Borrower accepts the Adjusted Interest Rate as provided in paragraph 2 above, Borrower shall have the
right to prepay a portion of the unpaid principal balance of this Note prior to the Rate Adjustment Date, without a Prepayment Fee, provided the remaining principal balance of this Note after the prepayment may not be less than $150,000.00. Any
partial prepayment must be received by Lender no less than thirty (30) days prior to the Rate Adjustment Date. Any partial prepayment will be applied to pay down the principal balance of this Note upon Lender’s receipt of such prepayment.
The then remaining principal balance of this Note will then be used to calculate the new monthly payment amount as described in paragraph 2(d) above. 

 4. Waiver. To the extent permitted by law, each and every Borrower, surety, guarantor, endorser or signator to this Note and any other party now or hereafter liable for the payment of this Note, in
whatever capacity, whether in whole or in part hereby (a) waives notice of intent to demand, presentment for payment, notice of demand, demand, notice of nonpayment, protest, notice of protest, notice of dishonor, notice of intent to
accelerate, notice of acceleration, and all other notices, filing of suit, and diligence in collecting this Note and/or enforcing any of the security herefor; (b) agrees that Lender shall not be required first to institute suit or exhaust its
remedies against Borrower or others liable or to become liable hereon or against the Property (as hereinafter defined), it being understood that Lender may exercise its rights hereunder and pursue its remedies in any order and at any time it
desires, and may do so, without notice to or 

  
 Page 4

 
consent of any such person, and without in any way diminishing the obligations of any such person; (c) consents to Lender dealing with any such person with reference to this Note by way of
forbearance, extension, modification, compromise or otherwise; (d) consents and agrees to any and all extensions, releases, renewals, partial payments, surrenders, exchanges, substitutions of security herefor, compromises, discharges or
modifications and any other indulgence with respect to any right or obligation secured by or provided by the Deed of Trust, Mortgage, or Deed to Secure Debt, as the case may be, securing this Note (“Deed of Trust”) or any other instrument
securing this Note, before or after the maturity of this Note, without notice thereof to any of them; or (e) consents and agrees that Lender may take any other action which Lender may deem reasonably appropriate to protect its security interest
in the property securing this Note (“Property”). Any such action(s) taken under the preceding sentence may be taken against one, all, or some of such persons, and Lender may take any such action against one differently than another of such
persons, in Lender’s sole discretion. 
 5. Default; Default Rate. Time is material and of the essence hereof with
respect to the payment of any sums of any nature by and the performance of all duties or obligations of the Borrower. Each of the following shall be an Event of Default under this Note: (a) failure to make any payment of principal and/or
interest or any other payment required by the provisions of this Note or of any instrument securing this Note on the date such payment or payments are due; (b) failure to perform any other provision of this Note or of any instrument securing
this Note; (c) falsity in any material respect of the warranties in the Deed of Trust or of any representation, warranty or information furnished by Borrower or its agents to Lender in connection with the loan evidenced by this Note
(“Loan”); or (d) failure to pay or perform under any Other Loan Documents (as described and defined in the Deed of Trust). Upon the occurrence of any Event of Default, any sum not paid as provided in this Note or in any instrument
securing this Note, shall, at the option of Lender, without notice, bear interest from such due date at a rate of interest (“Default Rate”) equal to four (4) percentage points per annum greater than the Note Rate, or the maximum rate
of interest permitted by law, whichever is the lesser, and, at the option of Lender, the unpaid balance of principal, accrued interest, plus any other sums due under this Note, or under any instrument securing this Note shall at once become due and
payable, without notice except as described in paragraph 12, and shall bear interest at the Default Rate. If an Event of Default occurs during a period of time in which prepayment is permitted only on payment of a prepayment fee, such fee shall be
computed as if the sum declared due on default were a prepayment and shall be added to the sums due and payable hereunder. 
 6.
Late Charges. If any payment is not received by Lender (or by the correspondent if a correspondent has been designated by Lender to receive payments) within five (5) calendar days after its due date, Lender, at its option, may assess a
late charge equal to five cents for each $1.00 of each overdue payment or the maximum late charge permitted by the laws of the state in which the Property is located, whichever is less. Such late charge shall be due and payable on demand, and
Lender, at its option, may (a) refuse to accept any late payment or any subsequent payment unless accompanied by such late charge, (b) add such late charge to the principal balance of this Note or (c) treat the failure to pay such
late charge as demanded as an Event of Default hereunder. If such late charge is added to the principal balance of this Note, it 

  
 Page 5

 
shall bear interest at the Default Rate. The late charge is compensation for damages suffered by Lender and does not constitute interest. 

7. Acknowledgments Regarding Default Rate, Late Charges and Prepayment Charges. 

 

	 	(a)	Borrower acknowledges and agrees that (i) a default in making the payments herein agreed to be paid when due will result in the Lender incurring additional expense
in servicing the Loan, loss to Lender of the use of the money due, and frustration to Lender in meeting its other commitments, (ii) if for any reason it fails to pay any amounts due hereunder, Lender shall be entitled to damages for the
detriment caused thereby, but that it is extremely difficult and impractical to ascertain the extent of such damages, and (iii) the Default Rate and the late charge described in this Note are a reasonable estimate of such damages.

  

	 	(b)	Borrower acknowledges and agrees that (i) prepayment prior to the maturity date may result in loss to Lender, (ii) the amount of the loss will depend on the
interest rates at the time of prepayment, the amount of principal prepaid and the length of time remaining between the prepayment date and the scheduled maturity date, (iii) prepayment is most likely to occur when interest rates have dropped
below the Note Rate, and (iv) because it is extremely difficult and impractical to ascertain now the amount of loss Lender may suffer in the event of prepayment, (A) Lender shall be entitled to damages for the loss caused by prepayment and
(B) the prepayment fee described in this Note is a reasonable measure of such damages. Borrower agrees that the prepayment fee described in this Note shall be imposed, to the extent permitted by law, whether the prepayment is voluntary,
involuntary or by operation of law, in connection with an Event of Default, or required by Lender in connection with a transfer or contract to transfer the Property, provided that no prepayment fee shall be added to sums prepaid with casualty
insurance proceeds or condemnation awards. 

  

	 	(c)	Borrower expressly (i) waives any right to prepay the Loan without payment of the prepayment fee described above in connection with a transfer or contract to
transfer the Property by Borrower, or a successor in interest of the undersigned, and (ii) agrees to pay such prepayment fee as provided above in connection with such a transfer or contract to transfer. 

 

	 	(d)	Borrower represents that it is a knowledgeable real estate investor and fully understands the effect of the fees, charges, waivers and agreements contained above.
Borrower acknowledges and agrees that the making of the Loan by Lender at the interest rate and with the other terms described herein is sufficient consideration for such fees, charges, waiver and agreement, and that Lender would not make this Loan
on these terms without such fees, charges, waiver and agreement. 

  
 Page 6

 8. Expenses and Attorney Fees. If Lender refers this Note to an attorney for
collection or seeks legal advice following a default alleged in good faith under this Note; if Lender is the prevailing party in any litigation instituted in connection with this Note; or if Lender or any other person initiates any judicial or
nonjudicial action, suit or proceeding, including but not limited to a foreclosure sale, in connection with this Note or the security therefor, and an attorney is employed by Lender to (a) appear in any such action, suit or proceeding,
(b) reclaim, seek relief from a judicial or statutory stay, sequester, protect, preserve or enforce Lender’s interest in this Note, the Deed of Trust, or any other security for this Note (including but not limited to proceedings at
appellate levels, under federal bankruptcy law, in eminent domain, under probate proceedings, or in connection with any state or federal tax lien), or (c) assist Lender in any foreclosure sale, then, in any such event, Borrower shall pay
attorney’s fees and costs and expenses incurred by Lender and/or its attorney in connection with the above-mentioned events and any appeals or discretionary reviews related to such events, including but not limited to costs incurred in
searching records, the cost of title reports, the cost of appraisals, and the cost of surveyors’ reports. If not paid within ten days after such fees, costs and expenses become due and written demand for payment is made upon Borrower, such
amount may, at Lender’s option, be added to the principal of this Note and shall bear interest at the Default Rate. 
 9.
No Usury. In no event shall any payment of interest or any other sum payable hereunder both (a) violate the usury laws of the state in which the Property is located and (b) allow Borrower to bring a claim for usury or raise usury as
a defense in any action on this Note. If it is established that both (a) and (b) have occurred, and any payment exceeding lawful limits has been received, Lender shall refund such excess or, at its option, credit the excess amount to
principal, but such payments shall not affect the obligation to make periodic payments required herein. 
 10. Security.
The indebtedness evidenced by this Note is secured by the Deed of Trust, Mortgage, or Deed to Secure Debt, as applicable (“Deed of Trust”), of even date and may be secured by other security instruments. 

11. Due on Sale or Encumbrance. As provided in the Deed of Trust securing this Note, and subject to any exceptions provided
therein, transfers or encumbrances of the Property, or of ownership interests in Borrower, cause all sums evidenced by this Note and/or secured by the Deed of Trust or by any other Loan Document to become immediately due and payable. By signing this
Note, Borrower acknowledges that Borrower has received and reviewed a copy of the Deed of Trust and is familiar with the provisions restricting the transfer of the Property and the ownership interests therein and assumptions of the Loan. 

12. Notice and Opportunity to Cure. Notwithstanding any other provision of this Note, Lender shall not accelerate the sums
evidenced hereby because of a nonmonetary default (defined below) by Borrower unless Borrower fails to cure the default within fifteen (15) days of the earlier of the date on which Lender mails or delivers written notice of the default to
Borrower. For purposes of this Note, the term “nonmonetary default” means a failure by Borrower or any other person or entity to perform any obligation contained in this Note or any other document or instrument evidencing or securing the
Loan (collectively, “Loan 

  
 Page 7

 
Documents”), other than the obligation to make payments provided for in this Note or any other Loan Document. If a nonmonetary default is capable of being cured and the cure cannot
reasonably be completed within the fifteen (15) day cure period, the cure period shall be extended up to sixty (60) days so long as Borrower has commenced action to cure within the fifteen (15) day cure period, and in Lender’s
opinion, Borrower is proceeding to cure the default with due diligence. No notice of default and no opportunity to cure shall be required if during any 12-month period Lender has already sent a notice to Borrower concerning default in the
performance of the same obligation. None of the foregoing shall be construed to obligate Lender to forebear in any other manner from exercising its remedies and Lender may pursue any other rights or remedies which Lender may have because of a
default. 
 13. Commercial Purpose. The obligation evidenced by this Note is exclusively for commercial or business
purposes. 
 14. Notices. All notices required or permitted under this Note shall be in writing and may be telecopies,
cabled, delivered by hand, or mailed by first class registered or certified mail, return receipt requested, postage prepaid, and addressed as follows: 
 If to Lender: 
 STANDARD INSURANCE COMPANY 

c/o StanCorp Mortgage Investors, LLC 
 Attn: Mortgage Loan Servicing T3A 
 19225 NW Tanasbourne Drive

 Hillsboro, OR 97124 
 If to Borrower: 
 VITRAN TEXAS, LLC 

Attn: Chris Keylon 
 P.O. Box 1290 (for U.S.P.S. mail delivery) 
 2850 Kramer Road (for
courier or other delivery) 
 Gibsonia, PA 15044 

Changes in the respective addresses to which such notices shall be directed may be from time to time by either party by notice to the
other party given at least ten (10) days before such change of address is to become effective. Notices given by mail in accordance with this provision shall be deemed to have been given three (3) days after the date of dispatch; notices
given by any other means shall be deemed to have been given when received. 
 15. Choice of Law, Jurisdiction and Venue;
Enforceability; Severability. Except for matters relating to the validity and/or enforcement of the security interest of Lender in the Property, which shall be determined in accordance with the applicable laws of the state in which the affected
Property is situated, the law of the state of Oregon shall govern the validity, interpretation, construction, performance and enforcement of this Note and any and all other 

  
 Page 8

 
Loan Documents. If, for any reason or to any extent any word, term, provision, or clause of this Note or any of the other Loan Documents, or its application to any person or situation, shall be
found by a court or other adjudicating authority to be invalid or unenforceable, the remaining words, terms, provisions, or clauses shall be enforced, and the affected work, term, clause, or provision shall be applied, to the fullest extent
permitted by law. Borrower irrevocably submits to the jurisdiction of Multnomah County state or Portland, Oregon federal court in any action or proceeding brought to enforce or otherwise arising out of or relating to this Note or any of the
other Loan Documents, and waives any claim that such forum is inappropriate and/or an inconvenient forum. 
 16. Successors
and Assigns. Whenever used herein, the words “undersigned”, “Borrower” and “Lender” shall be deemed to include their respective heirs, devisees, executors, administrators, personal representatives, successors and
assigns. 
 NOTICES TO BORROWER 
 DO NOT SIGN THIS NOTE BEFORE YOU READ IT. THIS NOTE PROVIDES FOR THE PAYMENT OF A FEE IF THIS NOTE IS PREPAID PRIOR TO THE DATE PROVIDED FOR REPAYMENT IN THIS NOTE AND OTHER CHARGES IF PAYMENTS ARE
LATE. IF YOU HAVE ANY QUESTIONS ABOUT THIS NOTE, YOU SHOULD CONSULT YOUR ATTORNEY. 
 ORS 41.580 Disclosure. UNDER OREGON
LAW, MOST AGREEMENTS, PROMISES AND COMMITMENTS BY LENDER, CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES, OR SECURED SOLELY BY THE BORROWER’S RESIDENCE MUST BE IN WRITING, EXPRESS
CONSIDERATION AND BE SIGNED BY AN AUTHORIZED REPRESENTATIVE OF LENDER TO BE ENFORCEABLE. 
 BORROWER: 

VITRAN TEXAS, LLC, 
 a Delaware limited
liability company 
  

			
	By:	 	 /s/ CHRIS KEYLON

		 	CHRIS KEYLON
		 	Its: Authorized Manager

  
 Page 9

 SIC Loan No. B2110730 

NOTE 
  

			
	$1,224,000.00	  	December 19, 2012

 FOR VALUE
RECEIVED, the undersigned, VITRAN WISCONSIN, LLC, a Delaware limited liability company (“Borrower”), promises to pay in lawful money of the United States, to the order of STANDARD INSURANCE COMPANY, an Oregon corporation
(together with any assigns, collectively, “Lender”), at its office in Hillsboro, Oregon, or such other place as Lender may designate, the principal amount of a loan (“Loan”) of One Million Two Hundred Twenty-Four Thousand and
No/100ths Dollars ($1,224,000.00), together with interest thereon, on the following agreements, terms and conditions. 
 1. Payments. Borrower shall make monthly payments of principal and interest to Lender, in amounts sufficient to fully amortize the principal balance of this Note over a fifteen (15) year
amortization period in substantially equal monthly payments. Such monthly payments of principal and interest shall be in the initial amount of Nine Thousand Six Hundred and No/100ths Dollars ($9,600.00) payable on the first day of each
month, commencing with the first day of February, 2013, together with such other sums as may become due hereunder or under any instrument securing this Note, until the entire indebtedness is fully paid, except that any remaining
indebtedness if not sooner paid shall be finally due and payable on the first day of January, 2028, which is the maturity date of this Note (“Maturity Date”). The monthly payment amount will change after each Rate Adjustment
Date (as defined in Paragraph 2) to an amount sufficient to repay the then unpaid principal balance of this Note in full at the then current interest rate, in substantially equal monthly payments over the balance of the amortization period specified
above. If applicable, until the payment is again changed, Borrower shall pay the new monthly payment each month beginning on the first day of the first calendar month after the applicable Rate Adjustment Date. Lender will mail or deliver to Borrower
a notice of any changes in the interest rate applicable to this Note, and any resulting changes in the monthly payments required under this Note, prior to the date the first payment is due after the applicable Rate Adjustment Date. Every payment
received with respect hereto shall be applied, in any order that may be determined by Lender in its sole discretion, to sums under this Note, including, without limitation: (a) late charges; (b) expenses paid or funds advanced by Lender
with interest thereon at the Default Rate when applicable (as hereinafter defined); (c) any prepayment fees due with respect to any payment and any other fees which may remain unpaid; (d) accrued interest on the principal balance from time
to time remaining unpaid; and (e) subject to the prepayment provisions herein, the principal balance hereunder. 
 2.
Interest. The interest rate applicable to this Note will change on the applicable Rate Adjustment Dates. Interest shall be calculated on the basis of a 360-day year consisting of twelve 30-day months, except that interest due and payable for
a period of less than a full month and/or any prepayment shall be calculated on an actual accrual method. The initial interest rate included in the aforesaid payments, unless adjusted as otherwise provided in this Note, shall be calculated at the
rate of Four and Seven-Eighths percent (4.875%) percent per annum (“Note Rate”) upon the unpaid balance of principal of this Note. Borrower, jointly and severally, also

  
 Page 1

 
promises to pay interest at the Note Rate from the date of disbursement of the Loan proceeds evidenced by this Note (“Disbursement Date”) to the date from which interest is included in
the first payment previously described. As used herein, “Rate Adjustment Date(s)” shall be as follows: 
  

	 	•	 	 59 months from the First Payment Date; 

  

	 	•	 	 119 months from the First Payment Date; 

  

	 	(a)	One hundred and twenty (120) days prior to each Rate Adjustment Date, Lender will notify Borrower in writing of the Adjusted Interest Rate that will become
effective in accordance with this Note. The “Adjusted Interest Rate” will be Lender’s then prevailing annual interest rate for similar loans then being originated by Lender with a similar term (equal to the period between the Rate
Adjustment Date and the earlier of the next Rate Adjustment Date or the Maturity Date) then being originated by Lender on properties comparable to the Property (as herein defined) as determined solely by Lender. 

 

	 	(a)	Borrower shall have thirty (30) days from the date of receipt of such notification from Lender to accept or reject the Adjusted Interest Rate. Failure by Borrower
to notify Lender of the acceptance or rejection of the Adjusted Interest Rate within such thirty (30) day period shall be deemed to be a rejection of the Adjusted Interest Rate. If the Adjusted Interest Rate is rejected by Borrower (or deemed
rejected), the entire unpaid principal balance of this Note, all accrued unpaid interest hereon, and any other amounts payable hereunder or under the other Loan Documents (as hereinafter defined) shall be due and payable in full, without a
Prepayment Fee, no later than the Rate Adjustment Date. 

  

	 	(b)	If Borrower accepts the Adjusted Interest Rate for the offered period, the Adjusted Interest Rate shall become effective on the Rate Adjustment Date and monthly
installments of principal and interest shall then be due and payable in an amount to be determined that will amortize the remaining unpaid principal balance of this Note at the Adjusted Interest Rate over the remaining amortization period. In such
case, Borrower shall also have the option to prepay a portion of the remaining unpaid principal balance of this Note as described in paragraph 3(e) below. 

  

	 	(c)	Thereafter, monthly installments of principal and interest on the unpaid principal balance of this Note, at the Adjusted Interest Rate, in the amount thus calculated,
shall be due and payable in consecutive monthly installments commencing on the first day of the calendar month after the Rate Adjustment Date and continuing on the first day of each calendar month thereafter, to and including the monthly installment
of principal and interest due and payable on the earlier of the next Rate Adjustment Date or the Maturity Date. 

  
 Page 2

 3. Prepayment Restrictions; Fees. Borrower shall have the right to prepay, in full
but not in part, the obligation evidenced by this Note upon giving Lender (i) not less than thirty (30) days’ prior written notice of (a) Borrower’s intention to so prepay this Note, and (b) the date upon which such
prepayment will be received by Lender (“Prepayment Date”), and (ii) payment to Lender of the Prepayment Fee (as hereinafter defined), if any, then due to Lender as hereinafter provided. 

 

	 	(a)	As used herein, the term “Prepayment Fee” shall mean an amount which is the greater of 

 

	 	(i)	one percent (1%) of the outstanding principal balance of this Note at the time of prepayment, or 

 

	 	(ii)	the sum of 

  

	 	(A)	the Present Value (as hereinafter defined) of the scheduled monthly payments due under this Note from the Prepayment Date to the earlier of the next Rate Adjustment
Date or the Maturity Date. 

  

	 	(B)	the Present Value of the amount of principal and interest due under this Note on the earlier of the next Rate Adjustment Date or the Maturity Date (assuming all
scheduled monthly payments due prior to such dates were made when due), minus 

  

	 	(C)	the outstanding principal balance of this Note as of the Prepayment Date. 

 The “Present Values” described in (A) and (B) shall be computed on a monthly basis as of the Prepayment Date discounted at a rate equal to the yield-to-maturity of the U.S. Treasury
Note or Bond closest in maturity to the earlier of the next Rate Adjustment Date or the Maturity Date as reported in The Wall Street Journal (or, if The Wall Street Journal is no longer published, as reported in such other daily financial
publication of national circulation which shall be designated by Lender) on the fifth business day preceding the Prepayment Date. Borrower shall be obligated to prepay this Note on the Prepayment Date set forth in the written notice to Lender
required hereinabove, after such notice has been delivered to Lender. 
  

	 	(b)	Notwithstanding the foregoing or any other provision herein to the contrary, if Lender elects to apply insurance proceeds, condemnation awards, or any escrowed amounts,
if applicable, to the reduction of the outstanding principal balance of this Note in the manner provided in the Deed of Trust, no Prepayment Fee shall be due or payable as a result of such application and the monthly installments due and payable
hereunder shall be reduced accordingly. 

  
 Page 3

	 	(c)	In the event the Maturity Date is accelerated by Lender at any time due to a default by Borrower in the payment of principal and/or interest due under this Note or in
the performance of the terms, covenants or conditions contained in this Note, the Deed of Trust or any of the other Loan Documents (as hereinafter defined), then a tender of payment in an amount necessary to satisfy the entire outstanding principal
balance of this Note together with all accrued unpaid interest hereon made by Borrower, or by anyone on behalf of Borrower, at any time prior to, at, or as a result of, a foreclosure sale or sale pursuant to power of sale, shall constitute a
voluntary prepayment hereunder prior to the contracted Maturity Date of this Note thus requiring the payment to Lender of a Prepayment Fee equal to the applicable Prepayment Fee as set forth in paragraph (a) above; provided, however, that in
the event such Prepayment Fee is construed to be interest under the laws of the State of Oregon in any circumstance, such payment shall not be required to the extent that the amount thereof, together with other interest payable hereunder, exceeds
the maximum rate of interest that may be lawfully charged under applicable law. 

  

	 	(d)	Notwithstanding anything contained herein to the contrary, during the ninety (90) day period immediately preceding the Maturity Date of this Note, the entire
outstanding principal balance and all accrued unpaid interest on this Note may be prepaid in whole, but not in part, at par, without incurring a Prepayment Fee. 

 

	 	(e)	Notwithstanding anything contained herein to the contrary, if Borrower accepts the Adjusted Interest Rate as provided in paragraph 2 above, Borrower shall have the
right to prepay a portion of the unpaid principal balance of this Note prior to the Rate Adjustment Date, without a Prepayment Fee, provided the remaining principal balance of this Note after the prepayment may not be less than $150,000.00. Any
partial prepayment must be received by Lender no less than thirty (30) days prior to the Rate Adjustment Date. Any partial prepayment will be applied to pay down the principal balance of this Note upon Lender’s receipt of such prepayment.
The then remaining principal balance of this Note will then be used to calculate the new monthly payment amount as described in paragraph 2(d) above. 

 4. Waiver. To the extent permitted by law, each and every Borrower, surety, guarantor, endorser or signator to this Note and any other party now or hereafter liable for the payment of this Note, in
whatever capacity, whether in whole or in part hereby (a) waives notice of intent to demand, presentment for payment, notice of demand, demand, notice of nonpayment, protest, notice of protest, notice of dishonor, notice of intent to
accelerate, notice of acceleration, and all other notices, filing of suit, and diligence in collecting this Note and/or enforcing any of the security herefor; (b) agrees that Lender shall not be required first to institute suit or exhaust its
remedies against Borrower or others liable or to become liable hereon or against the Property (as hereinafter defined), it being understood that Lender may exercise its rights hereunder and pursue its remedies in any order and at any time it
desires, and may do so, without notice to or 

  
 Page 4

 
consent of any such person, and without in any way diminishing the obligations of any such person; (c) consents to Lender dealing with any such person with reference to this Note by way of
forbearance, extension, modification, compromise or otherwise; (d) consents and agrees to any and all extensions, releases, renewals, partial payments, surrenders, exchanges, substitutions of security herefor, compromises, discharges or
modifications and any other indulgence with respect to any right or obligation secured by or provided by the Deed of Trust, Mortgage, or Deed to Secure Debt, as the case may be, securing this Note (“Deed of Trust”) or any other instrument
securing this Note, before or after the maturity of this Note, without notice thereof to any of them; or (e) consents and agrees that Lender may take any other action which Lender may deem reasonably appropriate to protect its security interest
in the property securing this Note (“Property”). Any such action(s) taken under the preceding sentence may be taken against one, all, or some of such persons, and Lender may take any such action against one differently than another of such
persons, in Lender’s sole discretion. 
 5. Default; Default Rate. Time is material and of the essence hereof with
respect to the payment of any sums of any nature by and the performance of all duties or obligations of the Borrower. Each of the following shall be an Event of Default under this Note: (a) failure to make any payment of principal and/or
interest or any other payment required by the provisions of this Note or of any instrument securing this Note on the date such payment or payments are due; (b) failure to perform any other provision of this Note or of any instrument securing
this Note; (c) falsity in any material respect of the warranties in the Deed of Trust or of any representation, warranty or information furnished by Borrower or its agents to Lender in connection with the loan evidenced by this Note
(“Loan”); or (d) failure to pay or perform under any Other Loan Documents (as described and defined in the Deed of Trust). Upon the occurrence of any Event of Default, any sum not paid as provided in this Note or in any instrument
securing this Note, shall, at the option of Lender, without notice, bear interest from such due date at a rate of interest (“Default Rate”) equal to four (4) percentage points per annum greater than the Note Rate, or the maximum rate
of interest permitted by law, whichever is the lesser, and, at the option of Lender, the unpaid balance of principal, accrued interest, plus any other sums due under this Note, or under any instrument securing this Note shall at once become due and
payable, without notice except as described in paragraph 12, and shall bear interest at the Default Rate. If an Event of Default occurs during a period of time in which prepayment is permitted only on payment of a prepayment fee, such fee shall be
computed as if the sum declared due on default were a prepayment and shall be added to the sums due and payable hereunder. 
 6.
Late Charges. If any payment is not received by Lender (or by the correspondent if a correspondent has been designated by Lender to receive payments) within five (5) calendar days after its due date, Lender, at its option, may assess a
late charge equal to five cents for each $1.00 of each overdue payment or the maximum late charge permitted by the laws of the state in which the Property is located, whichever is less. Such late charge shall be due and payable on demand, and
Lender, at its option, may (a) refuse to accept any late payment or any subsequent payment unless accompanied by such late charge, (b) add such late charge to the principal balance of this Note or (c) treat the failure to pay such
late charge as demanded as an Event of Default hereunder. If such late charge is added to the principal balance of this Note, it 

  
 Page 5

 
shall bear interest at the Default Rate. The late charge is compensation for damages suffered by Lender and does not constitute interest. 

7. Acknowledgments Regarding Default Rate, Late Charges and Prepayment Charges. 

 

	 	(a)	Borrower acknowledges and agrees that (i) a default in making the payments herein agreed to be paid when due will result in the Lender incurring additional expense
in servicing the Loan, loss to Lender of the use of the money due, and frustration to Lender in meeting its other commitments, (ii) if for any reason it fails to pay any amounts due hereunder, Lender shall be entitled to damages for the
detriment caused thereby, but that it is extremely difficult and impractical to ascertain the extent of such damages, and (iii) the Default Rate and the late charge described in this Note are a reasonable estimate of such damages.

  

	 	(b)	Borrower acknowledges and agrees that (i) prepayment prior to the maturity date may result in loss to Lender, (ii) the amount of the loss will depend on the
interest rates at the time of prepayment, the amount of principal prepaid and the length of time remaining between the prepayment date and the scheduled maturity date, (iii) prepayment is most likely to occur when interest rates have dropped
below the Note Rate, and (iv) because it is extremely difficult and impractical to ascertain now the amount of loss Lender may suffer in the event of prepayment, (A) Lender shall be entitled to damages for the loss caused by prepayment and
(B) the prepayment fee described in this Note is a reasonable measure of such damages. Borrower agrees that the prepayment fee described in this Note shall be imposed, to the extent permitted by law, whether the prepayment is voluntary,
involuntary or by operation of law, in connection with an Event of Default, or required by Lender in connection with a transfer or contract to transfer the Property, provided that no prepayment fee shall be added to sums prepaid with casualty
insurance proceeds or condemnation awards. 

  

	 	(c)	Borrower expressly (i) waives any right to prepay the Loan without payment of the prepayment fee described above in connection with a transfer or contract to
transfer the Property by Borrower, or a successor in interest of the undersigned, and (ii) agrees to pay such prepayment fee as provided above in connection with such a transfer or contract to transfer. 

 

	 	(d)	Borrower represents that it is a knowledgeable real estate investor and fully understands the effect of the fees, charges, waivers and agreements contained above.
Borrower acknowledges and agrees that the making of the Loan by Lender at the interest rate and with the other terms described herein is sufficient consideration for such fees, charges, waiver and agreement, and that Lender would not make this Loan
on these terms without such fees, charges, waiver and agreement. 

  
 Page 6

 8. Expenses and Attorney Fees. If Lender refers this Note to an attorney for
collection or seeks legal advice following a default alleged in good faith under this Note; if Lender is the prevailing party in any litigation instituted in connection with this Note; or if Lender or any other person initiates any judicial or
nonjudicial action, suit or proceeding, including but not limited to a foreclosure sale, in connection with this Note or the security therefor, and an attorney is employed by Lender to (a) appear in any such action, suit or proceeding,
(b) reclaim, seek relief from a judicial or statutory stay, sequester, protect, preserve or enforce Lender’s interest in this Note, the Deed of Trust, or any other security for this Note (including but not limited to proceedings at
appellate levels, under federal bankruptcy law, in eminent domain, under probate proceedings, or in connection with any state or federal tax lien), or (c) assist Lender in any foreclosure sale, then, in any such event, Borrower shall pay
attorney’s fees and costs and expenses incurred by Lender and/or its attorney in connection with the above-mentioned events and any appeals or discretionary reviews related to such events, including but not limited to costs incurred in
searching records, the cost of title reports, the cost of appraisals, and the cost of surveyors’ reports. If not paid within ten days after such fees, costs and expenses become due and written demand for payment is made upon Borrower, such
amount may, at Lender’s option, be added to the principal of this Note and shall bear interest at the Default Rate. 
 9.
No Usury. In no event shall any payment of interest or any other sum payable hereunder both (a) violate the usury laws of the state in which the Property is located and (b) allow Borrower to bring a claim for usury or raise usury as
a defense in any action on this Note. If it is established that both (a) and (b) have occurred, and any payment exceeding lawful limits has been received, Lender shall refund such excess or, at its option, credit the excess amount to
principal, but such payments shall not affect the obligation to make periodic payments required herein. 
 10. Security.
The indebtedness evidenced by this Note is secured by the Deed of Trust, Mortgage, or Deed to Secure Debt, as applicable (“Deed of Trust”), of even date and may be secured by other security instruments. 

11. Due on Sale or Encumbrance. As provided in the Deed of Trust securing this Note, and subject to any exceptions provided
therein, transfers or encumbrances of the Property, or of ownership interests in Borrower, cause all sums evidenced by this Note and/or secured by the Deed of Trust or by any other Loan Document to become immediately due and payable. By signing this
Note, Borrower acknowledges that Borrower has received and reviewed a copy of the Deed of Trust and is familiar with the provisions restricting the transfer of the Property and the ownership interests therein and assumptions of the Loan. 

12. Notice and Opportunity to Cure. Notwithstanding any other provision of this Note, Lender shall not accelerate the sums
evidenced hereby because of a nonmonetary default (defined below) by Borrower unless Borrower fails to cure the default within fifteen (15) days of the earlier of the date on which Lender mails or delivers written notice of the default to
Borrower. For purposes of this Note, the term “nonmonetary default” means a failure by Borrower or any other person or entity to perform any obligation contained in this Note or any other document or instrument evidencing or securing the
Loan (collectively, “Loan 

  
 Page 7

 
Documents”), other than the obligation to make payments provided for in this Note or any other Loan Document. If a nonmonetary default is capable of being cured and the cure cannot
reasonably be completed within the fifteen (15) day cure period, the cure period shall be extended up to sixty (60) days so long as Borrower has commenced action to cure within the fifteen (15) day cure period, and in Lender’s
opinion, Borrower is proceeding to cure the default with due diligence. No notice of default and no opportunity to cure shall be required if during any 12-month period Lender has already sent a notice to Borrower concerning default in the
performance of the same obligation. None of the foregoing shall be construed to obligate Lender to forebear in any other manner from exercising its remedies and Lender may pursue any other rights or remedies which Lender may have because of a
default. 
 13. Commercial Purpose. The obligation evidenced by this Note is exclusively for commercial or business
purposes. 
 14. Notices. All notices required or permitted under this Note shall be in writing and may be telecopies,
cabled, delivered by hand, or mailed by first class registered or certified mail, return receipt requested, postage prepaid, and addressed as follows: 
 If to Lender: 
 STANDARD INSURANCE COMPANY 

c/o StanCorp Mortgage Investors, LLC 
 Attn: Mortgage Loan Servicing T3A 
 19225 NW Tanasbourne Drive

 Hillsboro, OR 97124 
 If to Borrower: 
 VITRAN WISCONSIN, LLC 

Attn: Chris Keylon 
 P.O. Box 1290 (for U.S.P.S. mail delivery) 
 2850 Kramer Road (for
courier or other delivery) 
 Gibsonia, PA 15044 

Changes in the respective addresses to which such notices shall be directed may be from time to time by either party by notice to the
other party given at least ten (10) days before such change of address is to become effective. Notices given by mail in accordance with this provision shall be deemed to have been given three (3) days after the date of dispatch; notices
given by any other means shall be deemed to have been given when received. 
 15. Choice of Law, Jurisdiction and Venue;
Enforceability; Severability. Except for matters relating to the validity and/or enforcement of the security interest of Lender in the Property, which shall be determined in accordance with the applicable laws of the state in which the affected
Property is situated, the law of the state of Oregon shall govern the validity, interpretation, construction, performance and enforcement of this Note and any and all other 

  
 Page 8

 
Loan Documents. If, for any reason or to any extent any word, term, provision, or clause of this Note or any of the other Loan Documents, or its application to any person or situation, shall be
found by a court or other adjudicating authority to be invalid or unenforceable, the remaining words, terms, provisions, or clauses shall be enforced, and the affected work, term, clause, or provision shall be applied, to the fullest extent
permitted by law. Borrower irrevocably submits to the jurisdiction of Multnomah County state or Portland, Oregon federal court in any action or proceeding brought to enforce or otherwise arising out of or relating to this Note or any of the
other Loan Documents, and waives any claim that such forum is inappropriate and/or an inconvenient forum. 
 16. Successors
and Assigns. Whenever used herein, the words “undersigned”, “Borrower” and “Lender” shall be deemed to include their respective heirs, devisees, executors, administrators, personal representatives, successors and
assigns. 
 NOTICES TO BORROWER 
 DO NOT SIGN THIS NOTE BEFORE YOU READ IT. THIS NOTE PROVIDES FOR THE PAYMENT OF A FEE IF THIS NOTE IS PREPAID PRIOR TO THE DATE PROVIDED FOR REPAYMENT IN THIS NOTE AND OTHER CHARGES IF PAYMENTS ARE
LATE. IF YOU HAVE ANY QUESTIONS ABOUT THIS NOTE, YOU SHOULD CONSULT YOUR ATTORNEY. 
 ORS 41.580 Disclosure. UNDER OREGON
LAW, MOST AGREEMENTS, PROMISES AND COMMITMENTS BY LENDER, CONCERNING LOANS AND OTHER CREDIT EXTENSIONS WHICH ARE NOT FOR PERSONAL, FAMILY OR HOUSEHOLD PURPOSES, OR SECURED SOLELY BY THE BORROWER’S RESIDENCE MUST BE IN WRITING, EXPRESS
CONSIDERATION AND BE SIGNED BY AN AUTHORIZED REPRESENTATIVE OF LENDER TO BE ENFORCEABLE. 
 BORROWER: 

VITRAN WISCONSIN, LLC, 
 a Delaware
limited liability company 
  

			
	 By:
	 	 /s/ CHRIS KEYLON

		 	CHRIS KEYLON
		 	Its: Authorized Manager

  
 Page 9EX-10.13

 Exhibit 10.13 
 Execution Version 
 THIRD AMENDMENT TO CREDIT AGREEMENT

 EXECUTED by the parties hereto as of the 28th day of December, 2012. 
  

			
	AMONG:	  	VITRAN CORPORATION INC. and VITRAN EXPRESS CANADA INC., as Canadian Borrowers
		
		  	(the “Canadian Borrowers”)
		
	AND:	  	VITRAN CORPORATION, VITRAN EXPRESS, INC., LAS VEGAS/L.A. EXPRESS, INC., VITRAN LOGISTICS CORP., VITRAN LOGISTICS, INC., SHORTHAUL TRANSPORT CORPORATION and MIDWEST SUPPLY CHAIN,
INC., as U.S. Borrowers
		
		  	(collectively, the “U.S. Borrowers”, and together with the Canadian Borrowers, the “Borrowers”)
		
	AND:	  	THE CANADIAN BORROWERS, THE U.S. BORROWERS, CAN-AM LOGISTICS INC., VITRAN LOGISTICS LIMITED, EXPEDITEUR T.W. LTEE, 1098304 ONTARIO INC., DONEY HOLDINGS INC., ROUT-WAY EXPRESS
LINES LTD./LES SERVICE ROUTIERS EXPRESS ROUT LTEE, 1277050 ALBERTA INC., SOUTHERN EXPRESS LINES OF ONTARIO LIMITED, VITRAN ENVIRONMENTAL SYSTEMS INC., 0772703 B.C. LTD., 1833660 ONTARIO INC. and VITRAN PROPERTIES USA, INC., as
Guarantors
		
		  	(collectively, the “Guarantors”)
		
	AND:	  	JPMORGAN CHASE BANK, N.A., as Administrative Agent
		
		  	(the “Agent”)
		
	AND:	  	EACH OF THE FINANCIAL INSTITUTIONS PARTY HERETO, CONSTITUTING REQUIRED LENDERS (as such term is defined in the Credit Agreement (as defined below)), as Required
Lenders
		
		  	(collectively the “Required Lenders”)

 WHEREAS the Borrowers, the Guarantors, the Agent and the other Persons signatory thereto have
entered into a Credit Agreement dated as of November 30, 2011, as amended by that certain First Amendment to Credit Agreement dated as of December 29, 2011 and by that Second Amendment to Credit Agreement dated as of October 10, 2012
(including all annexes, exhibits and schedules thereto, as the same has been or may be further amended, modified, restated, supplemented or replaced from time to time, collectively the “Credit Agreement”); 

AND WHEREAS the parties hereto have agreed to amend certain provisions of the Credit Agreement, but, only to the extent and
subject to the limitations set forth in this Third Amendment to Credit Agreement (hereinafter this “Amendment Agreement”) and without prejudice to the Agent’s and the Secured Parties’ other rights; 

NOW THEREFORE for good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the parties
hereby agree as follows: 

 ARTICLE I – INTERPRETATION 

 

	1.1	All capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to such terms in the Credit Agreement (including, as the case may
be, as amended by the terms of this Amendment Agreement). 

 ARTICLE II – CONSENTS

  

	2.1	Notwithstanding the restrictions set forth in Sections, 6.5, 6.6 and 6.9 of the Credit Agreement, the Agent and the Required Lenders hereby consent to (a) Vitran
Express, Inc.’s disposition and sale of the real estate listed on “Exhibit A” hereto to the Subsidiaries of Vitran Properties USA, Inc. (listed on “Exhibit B” hereto, together with additional LLCs established as Subsidiaries
of Vitran Properties USA, Inc. in connection with the LLC Real Estate Facility (as hereinafter defined), the “LLC Excluded Subsidiaries”) for aggregate consideration not to exceed $51,000,000, (b) the consideration for such
sale being accepted as a vendor-take-back promissory note in favour of Vitran Express, Inc., made by such LLC Excluded Subsidiaries in an aggregate amount not to exceed $51,000,000, and (c) Vitran Express, Inc. leasing back the premises from
the LLC Excluded Subsidiaries, provided that the Operating Leases entered into by Vitran Express, Inc. are on market terms and reflect market rents, all to the satisfaction of the Administrative Agent. 

 

	2.2	Notwithstanding Section 5.15 of the Credit Agreement (which is added by virtue of this Amendment Agreement) and the restrictions set forth in Section 6.8 of
the Credit Agreement, the Agent and the Required Lenders hereby consent to the Loan Parties using a portion of the loan proceeds received from the LLC Real Estate Facility (as hereinafter defined) to payout, in full, the obligations owing under the
EDC Loan, in an aggregate amount of US$2,251,694.42. 

 ARTICLE III – AMENDMENTS

  

	3.1	As of the Amendment Effective Date, Section 1.1 of the Credit Agreement is hereby amended as follows: 

 

	 	(a)	by adding the following definitions thereto in proper alphabetical order: 

 ““LLC Excluded Subsidiaries” means, collectively, Vitran Alabama, LLC, Vitran Georgia, LLC, Vitran Illinois, LLC, Vitran Indianapolis, LLC, Vitran Indiana, LLC, Vitran Kansas, LLC,
Vitran Maryland, LLC, Vitran Michigan, LLC, Vitran Mississippi, LLC, Vitran North Dakota, LLC, Vitran New Jersey, LLC, Vitran Nevada, LLC, Vitran Toledo, LLC, Vitran Cincinnati, LLC, Vitran Ohio, LLC, Vitran Pennsylvania, LLC, Vitran Tennessee, LLC,
Vitran Texas, LLC, Vitran Wisconsin, LLC, Vitran Sioux Falls, LLC, Vitran Wichita, LLC and any additional LLCs established as Subsidiaries of Vitran Properties USA, Inc. in connection with the LLC Real Estate Facility. 

“LLC Priority and Access Agreement” means the Priority, Access, Waiver and Subordination Agreement by an among, amongst
others, the Administrative 

  
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Agent, Standard Insurance Company, certain Loan Parties and the LLC Excluded Subsidiaries, on terms and conditions satisfactory to the Administrative Agent. 

“LLC Real Estate Facility” means the term loan credit facility in the maximum aggregate amount of US$33,000,000 provided
to the LLC Excluded Subsidiaries pursuant to the LLC Real Estate Loan Agreement on terms and conditions satisfactory to the Administrative Agent. 
 “LLC Real Estate Loan Agreement” means, collectively, (i) the commitment letter dated December 17, 2012 between Vitran and StanCorp Mortgage Investors, LLC, and (ii) the
individual promissory notes issued (from time to time), under the foregoing commitment letter, by the LLC Excluded Subsidiaries in favour of Standard Insurance Company.”; 

 

	 	(b)	by deleting the definition of “EDC Loan” in its entirety; 

  

	 	(c)	by adding a reference to “LLC Priority and Access Agreement,” immediately after the reference to “Priority and Access Agreement,” in the fourth line
of the definition of “Loan Documents”; and 

  

	 	(d)	by deleting the definition of “Real Estate Facility” in its entirety and substituting the following therefor: 

““Real Estate Facility” means the credit facility in the minimum aggregate amount of $50,500,000 provided pursuant to the
Real Estate Loan Agreement on terms and conditions acceptable to the Administrative Agent.”. 
  

	3.2	As of the Amendment Effective Date, Article III of the Credit Agreement is hereby amended by adding the following new Sections 3.20 and 3.21 to the end thereof:

 “3.20 LLC Excluded Subsidiaries Each of the LLC Excluded Subsidiaries, (i) does not carry on
any business whatsoever other than in its capacity as a Landlord to Vitran Express, Inc., (ii) does not own any Accounts or Rolling Stock or any other personal or real property and assets (other than as set forth in Schedule 6.1), and
(iii) has not granted a Lien to any Person and no Person otherwise has a Lien against it or its personal or real property and assets (other than the Liens set forth on Schedule 6.2). 

3.21 Vitran Properties USA, Inc. Vitran Properties USA, Inc. (i) does not carry on any business whatsoever, (ii) does not
own any Accounts or Rolling Stock or any other personal or real property and assets, and (iii) has not granted a Lien to any Person and no Person otherwise has a Lien against it or its personal or real property and assets; save, in the case of
(a) clause (ii), that Vitran Properties USA, Inc. owns one hundred percent (100%) of the Equity Interests in the LLC Excluded Subsidiaries and owns a Deposit Account for collection of certain rents on behalf of the LLC Excluded
Subsidiaries, and (b) clause (iii), Vitran Properties USA, Inc. has granted a Lien to the Administrative Agent.”. 

  
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	3.3	As of the Amendment Effective Date, Article V of the Credit Agreement is hereby amended by adding the following new Section 5.15 to the end thereof:

 “5.15 LLC Real Estate Facility Loan Parties shall, and shall cause the LLC Excluded Subsidiaries, to
transfer and pay, directly or indirectly, any and all Net Proceeds received by any of them, at any time, under or pursuant to the LLC Real Estate Facility, to the Administrative Agent to be applied to the Secured Obligations in accordance with
Section 2.11(d) hereof.” 
  

	3.4	As of the Amendment Effective Date, Section 6.1 of the Credit Agreement is hereby amended as follows: 

 

	 	(a)	by deleting the reference to “$25,000,000” in the second last line of Subsection (d) thereof and substituting “$20,000,000” therefor; and

  

	 	(b)	by deleting Subsection (e) in its entirety and substituting the following therefor: 

“(e) Indebtedness of any Loan Party or any Subsidiary (including without limitation, Indebtedness owing under the Real Estate Loan
Agreement and the LLC Real Estate Loan Agreement) secured by a Lien on any real property and fixed assets (located at such real property) and extensions, renewals and replacements of any such Indebtedness in accordance with clause (f) hereof;
provided that (i), if required by the Administrative Agent, the Loan Party or Subsidiary has used commercially reasonable efforts to obtain an access agreement with respect to any such property subject to a Lien, in form and substance
satisfactory to Administrative Agent, from the holder of such Indebtedness (it being understood that to the extent such an access agreement is not obtained, Administrative Agent may establish a Reserve in its Permitted Discretion); (ii) the
aggregate principal amount of Indebtedness permitted by this clause (e) (in addition to the Indebtedness under the Real Estate Loan Agreement and the LLC Real Estate Loan Agreement) shall not at any time exceed an amount equal to the lesser of
(a) $20,000,000, and (b) 85% of the value of real estate owned or hereafter acquired by such Loan Party or such Subsidiary; (iii) no Event of Default has occurred and is continuing at the time any such Indebtedness is incurred, or
would result therefrom, and (iv) such Indebtedness incurred in calendar years 2013 and 2014, respectively, shall not exceed $10,000,000 in each such calendar year;”. 

 

	3.5	As of the Amendment Effective Date, Section 6.4 of the Credit Agreement is hereby amended as follows: 

 

	 	(a)	by deleting Subsection (e) thereof in its entirety and substituting the following therefor: 

“(e) Guarantees permitted pursuant to Section 6.1 and unsecured guarantees made by Vitran Corporation, Vitran Corporation Inc.,
Vitran Express, Inc. and Vitran Properties USA, Inc. in respect of the LLC Real Estate Facility, which unsecured guarantees shall be (i) on terms satisfactory to the Administrative 

  
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Agent, (ii) subordinate to the Secured Obligations, and (iii) subject to the LLC Priority and Access Agreement;”; 

 

	 	(b)	by deleting the word “and” from the end of Subsection (k) thereof; 

 

	 	(c)	by deleting the “.” from the end of Subsection (l) thereof and substituting “; and” therefor; and 

 

	 	(d)	by adding the following new Subsection (m) to the end thereof: 

 “(m) $50,000,000 vendor-take-back loan by Vitran Express, Inc. to the LLC Excluded Subsidiaries, as consideration for the sale of real property owned by Vitran Express, Inc. to the LLC Excluded
Subsidiaries.”. 
  

	3.6	As of the Amendment Effective Date, Section 6.8 of the Credit Agreement is hereby amended by deleting Subsection (b)(ii) thereof in its entirety and substituting
the following therefor: 

 “(ii) payment of regularly scheduled interest and principal payments as and when
due in respect of any Indebtedness (including, without limitation, the Real Estate Loan Agreement and the LLC Real Estate Loan Agreement), other than payments in respect of any Subordinated Indebtedness prohibited by the subordination provisions
thereof;”. 
  

	3.7	As of the Amendment Effective Date, Subsection 6.11(a) of the Credit Agreement is hereby amended by adding a reference to “, LLC Real Estate Loan Agreement”
immediately after the reference to “Real Estate Loan Agreement” therein. 

  

	3.8	As of the Amendment Effective Date, Article VI of the Credit Agreement is hereby amended by adding the following new Sections 6.14, 6.15 and 6.16 to the end thereof:

 “6.14 Operating Leases No Loan Party will, nor will it permit any Subsidiary to, enter into any
Operating Lease that is not on fair market terms nor for fair market rents or payments. 
 6.15 LLC Excluded Subsidiaries
Borrower Representative shall cause each of the LLC Excluded Subsidiaries not to (i) carry on any business whatsoever other than in its capacity as a Landlord to Vitran Express, Inc., (ii) own any Accounts or Rolling Stock or any other
personal or real property and assets (other than as set forth in Schedule 6.1), and (iii) grant a Lien to any Person against it or its personal or real property and assets (other than the Liens set forth on Schedule 6.2). 

6.16 Vitran Properties USA, Inc. Vitran Properties USA, Inc. shall not (i) carry on any business whatsoever, (ii) own any
Accounts or Rolling Stock or any other personal or real property and assets other than one hundred percent (100%) of the Equity Interests in the LLC Excluded Subsidiaries and a Deposit Account for collection of certain rents on behalf of the
LLC Excluded Subsidiaries, and (iii) grant a Lien to any Person against it or its personal or real property and assets other than Liens in favour of the Administrative Agent.”. 

  
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	3.9	As of the Amendment Effective Date, Section 7 of the Credit Agreement is hereby amended by deleting Subsection (s) thereof in its entirety and substituting
the following therefor: 

 “(s) any “Event of Default” occurs under the Real Estate Loan Agreement
(as such term is defined therein) or any default or breach occurs under the LLC Real Estate Loan Agreement.”. 
  

	3.10	As of the Amendment Effective Date, Credit Agreement Schedules 3.5, 3.12, 3.14, 3.15, 4.1 and 6.1 are hereby deleted and replaced, in their entirety, by Schedules 3.5,
3.12, 3.14, 3.15, 4.1 and 6.1 attached hereto. 

 ARTICLE IV – CONDITIONS TO EFFECTIVENESS

  

	4.1	This Amendment Agreement shall become effective upon satisfaction of the following conditions precedent (the date of satisfaction of all such conditions being referred
to herein as the “Amendment Effective Date”): 

  

	 	(a)	the Borrowers, each other Loan Party and the Required Lenders delivering to the Agent five (5) originally executed copies of this Amendment Agreement;

  

	 	(b)	Vitran Properties USA, Inc. delivering to the Agent five (5) originally executed copies of the Joinder Agreement (attached hereto as “Exhibit C”) and all
other Loan Documents (including joinders to the U.S. Security Agreement) in form and substance satisfactory to the Administrative Agent; 

  

	 	(c)	Net Proceeds in the amount of US$13,900,000 being delivered to the Administrative Agent for application to the Secured Obligations in accordance with
Section 2.11(d) of the Credit Agreement; 

  

	 	(d)	delivery of all documents (including, inter alia, the Priority, Access, Waiver and Subordination Agreement), opinions, certificates, etc., set forth on the
Closing Agenda attached hereto as “Exhibit D”, each in form and substance satisfactory to the Administrative Agent; and 

  

	 	(e)	delivery of all executed LLC Real Estate Facility loan documentation required by the Administrative Agent. 

ARTICLE V – REPRESENTATIONS AND WARRANTIES 

 

	5.1	Each Borrower and each other Loan Party warrants and represents to the Agent and the Secured Parties that the following statements are true, correct and complete:

  

	 	(a)	 Authorization, Validity, and Enforceability of this Amendment Agreement. Each Loan Party has the corporate power and authority to execute and
deliver this Amendment Agreement and to perform the Credit Agreement. Each Loan Party has taken all necessary corporate action (including, without limitation, obtaining approval of its shareholders if necessary) to authorize its execution

  
 - 6 -

	 	
and delivery of this Amendment Agreement and the performance of the Credit Agreement. This Amendment Agreement has been duly executed and delivered by each Loan Party and this Amendment Agreement
and the Credit Agreement constitute the legal, valid and binding obligations of each Loan Party, enforceable against each of them in accordance with their respective terms without defence, compensation, setoff or counterclaim. Each Loan Party’s
execution and delivery of this Amendment Agreement and the performance by each Loan Party of the Credit Agreement do not and will not conflict with, or constitute a violation or breach of, or constitute a default under, or result in the creation or
imposition of any Lien upon the property of any Loan Party by reason of the terms of (a) any contract, mortgage, hypothec, Lien, lease, agreement, indenture, or instrument to which any Loan Party is a party or which is binding on any of them,
(b) any requirement of law applicable to any Loan Party, or (c) the certificate or articles of incorporation or amalgamation or association or bylaws or memorandum of association or articles of association of any Loan Party.

  

	 	(b)	Governmental Authorization. No approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any governmental authority or other
person is necessary or required in connection with the execution, delivery or performance by, or enforcement against any Loan Party of this Amendment Agreement or the Credit Agreement except for such as have been obtained or made and filings
required in order to perfect and render enforceable the Agent’s Liens. 

  

	 	(c)	Incorporation of Representations and Warranties From Credit Agreement. The representations and warranties contained in the Credit Agreement and the other Loan
Documents are and will be true, correct and complete in all material respects on and as of the Amendment Effective Date to the same extent as though made on and as of that date, except to the extent such representations and warranties specifically
relate to an earlier date (other than in respect of any information contained in the Schedules attached to this Amendment Agreement), in which case they were true, correct and complete in all material respects on and as of such earlier date.

  

	 	(d)	Absence of Default. No event has occurred and is continuing or will result from the consummation of the transactions contemplated by this Amendment Agreement
that would constitute a Default or an Event of Default. 

  

	 	(e)	Security. All security delivered to or for the benefit of the Agent on behalf of the Secured Parties pursuant to the Credit Agreement and the other Loan
Documents remain in full force and effect and secure all obligations of the Borrowers and the other Loan Parties purported to being secured thereby, including, under the Credit Agreement and the other Loan Documents. 

 

	 	(f)	 Operating Leases. In accordance with Section 6.9 of the Credit Agreement, all Operating Leases of any Loan Party entered into with
Affiliates (including the 

  
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LLC Excluded Subsidiaries), are in form and substance and on terms consistent with the provisions set forth in Subsections 6.9(a)(i) and (ii). 

ARTICLE VI – AUTHORIZATION 
 The Required Lenders hereby authorize the Administrative Agent to accept and counstersign (in form and substance satisfactory to the Administrative Agent) a joinder to the U.S. Security Agreement
delivered and executed by Vitran Properties USA, Inc. 
 ARTICLE VII – MISCELLANEOUS 

 

	7.1	Each Borrower (i) reaffirms its Obligations under the Credit Agreement and the other Loan Documents to which it is a party, and (ii) agrees that the Credit
Agreement and the other Loan Documents to which it is a party remain in full force and effect, except as amended hereby, and are hereby ratified and confirmed. The other Loan Parties (i) consent to and approve the execution and delivery of this
Amendment Agreement by the parties hereto, (ii) agree that this Amendment Agreement does not and shall not limit or diminish in any manner the obligations of the Loan Parties under their guarantees (collectively, the
“Guarantees”) and that such obligations would not be limited or diminished in any manner even if such Loan Parties had not executed this Amendment Agreement, (iii) agree that this Amendment Agreement shall not be construed as
requiring the consent of such Loan Parties in any other circumstance, (iv) reaffirm each of their obligations under the Guarantees and the other Loan Documents to which they are a party, and (v) agree that the Guarantees and the other Loan
Documents to which they are a party remain in full force and effect and are hereby ratified and confirmed. 

  

	7.2	Nothing contained in this Amendment Agreement or any other communication between the Agent and/or the Secured Parties and the Borrowers (or any other Loan Party) shall
be a waiver of any other present or future violation, Default or Event of Default under the Credit Agreement or any other Loan Document (collectively, “Violations”). Similarly, nothing contained in this Amendment Agreement shall
directly or indirectly in any way whatsoever either: (i) impair, prejudice or otherwise adversely affect the Agent’s or the Secured Parties’ right at any time to exercise any right, privilege or remedy in connection with the Credit
Agreement or any other Loan Document with respect to any Violations (including, without limiting the generality of the foregoing, in respect of the non-conformity to any representation, warranty or covenant contained in any Loan Document),
(ii) except as specifically provided in Article II hereof, amend or alter any provision of the Credit Agreement or any other Loan Document or any other contract or instrument, or (iii) constitute any course of dealing or other basis for
altering any obligation of the Borrowers or any other Loan Party under the Loan Documents or any right, privilege or remedy of the Agent or the Secured Parties under the Credit Agreement or any other Loan Document or any other contract or instrument
with respect to Violations. Nothing in this Amendment Agreement shall be construed to be a consent by the Agent or the other Secured Parties to any Violations. 

 

	7.3	 Save as expressly set forth in this Amendment Agreement, (i) no additional waiver, consent or amendment in respect of any other term, condition,
covenant, agreement or any other aspect of the Credit Agreement is intended or implied, and (ii) all other terms 

  
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and conditions of the Credit Agreement remain in full force and effect. All other Loan Documents remain in full force and effect. 

 

	7.4	This Amendment Agreement shall be interpreted and the rights and liabilities of the parties hereto shall be determined in accordance with the laws of the Province of
Ontario and the federal laws of Canada applicable therein. 

  

	7.5	This Amendment Agreement may be executed in original, facsimile and/or other electronic means counterparts and all such counterparts taken together shall be deemed to
constitute one and the same instrument. 

 [the following pages are the signature pages] 

  
 - 9 -

 The parties have executed this Amendment Agreement as of the date first above written. 

 

					
	 JPMORGAN CHASE BANK, N.A.,
 as Administrative Agent

		
	By:	 	 /S/ RANDY ABRAMS

		 	Name:	 	Randy Abrams
		 	Title:	 	Authorized Officer

  

					
	 JPMORGAN CHASE BANK, N.A., TORONTO
 BRANCH,
 as Canadian Administrative Agent

		
	By:	 	 /S/ AUGGIE MARCHETTI

		 	Name:	 	Auggie Marchetti
		 	Title:	 	Senior Vice President & Region Manager

 - Signature Pages to Third Amendment to Credit Agreement - 

 
					
	 JPMORGAN CHASE BANK, N.A., TORONTO
 BRANCH,
 as a Canadian Lender

		
	By:	 	 /S/ AUGGIE MARCHETTI

		 	Name:	 	Auggie Marchetti
		 	Title:	 	Senior Vice President & Region Manager
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	 ROYAL BANK OF CANADA,
 as a Canadian Lender

		
	By:	 	 /S/ ROBERT S. KIZELL

		 	Name:	 	Robert S. Kizell
		 	Title:	 	Attorney-in-fact
		
	By:	 	 /S/ MICHAEL PETERSEN

		 	Name:	 	Michael Petersen
		 	Title:	 	Attorney-in-fact
	
	 FIFTH THIRD BANK,
 as a Canadian Lender

		
	By:	 	 /S/ MAURO SPAGNOLO

		 	Name:	 	Mauro Spagnolo
		 	Title:	 	Managing Director & Principal Officer
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	 EXPORT DEVELOPMENT CANADA,
 as a Canadian Lender

		
	By:	 	 /S/ SHEILA BANNING

		 	Name:	 	Sheila Banning
		 	Title:	 	Asset Manager
		
	By:	 	 /S/ TREVOR MULLIGAN

		 	Name:	 	Trevor Mulligan
		 	Title:	 	Asset Manager

  
 -
Signature Pages to Third Amendment to Credit Agreement - 

 
					
	 JPMORGAN CHASE BANK, N.A.,
 as a U.S. Lender

		
	By:	 	 /S/ RANDY ABRAMS

		 	Name:	 	Randy Abrams
		 	Title:	 	Authorized Officer
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	 ROYAL BANK OF CANADA,
 as a U.S. Lender

		
	By:	 	 /S/ ROBERT S. KIZELL

		 	Name:	 	Robert S. Kizell
		 	Title:	 	Attorney-in-fact
		
	By:	 	 /S/ MICHAEL PETERSEN

		 	Name:	 	Michael Petersen
		 	Title:	 	Attorney-in-fact
	
	 FIFTH THIRD BANK,
 as a U.S. Lender

		
	By:	 	 /S/ WILLIAM KRUMMEN

		 	Name:	 	William Krummen
		 	Title:	 	Vice President
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	 EXPORT DEVELOPMENT OF CANADA,
 as a U.S. Lender

		
	By:	 	 /S/ SHEILA BANNING

		 	Name:	 	Sheila Banning
		 	Title:	 	Asset Manager
		
	By:	 	 /S/ TREVOR MULLIGAN

		 	Name:	 	Trevor Mulligan
		 	Title:	 	Asset Manager

  
 -
Signature Pages to Third Amendment to Credit Agreement - 

 
					
	 VITRAN CORPORATION INC.,
 as a Canadian Borrower and as a Guarantor

		
	By:	 	 /S/ RICHARD E. GAETZ

		 	Name:	 	Richard E. Gaetz
		 	Title:	 	President & Chief Executive Officer
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	 VITRAN EXPRESS CANADA INC.,
 as a Canadian Borrower and as a Guarantor

		
	By:	 	 /S/ RICHARD E. GAETZ

		 	Name:	 	Richard E. Gaetz
		 	Title:	 	Chief Executive Officer
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	 VITRAN CORPORATION,
 as a U.S. Borrower and as a Guarantor

		
	By:	 	 /S/ RICHARD E. GAETZ

		 	Name:	 	Richard E. Gaetz
		 	Title:	 	Chief Executive Officer
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	 VITRAN EXPRESS, INC.,
 as a U.S. Borrower and as a Guarantor

		
	By:	 	 /S/ RICHARD E. GAETZ

		 	Name:	 	Richard E. Gaetz
		 	Title:	 	Chief Executive Officer
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

  
 -
Signature Pages to Third Amendment to Credit Agreement - 

 
					
	 LAS VEGAS/L.A. EXPRESS, INC.,
 as U.S. Borrower and as a Guarantor

		
	By:	 	 /S/ RICHARD E. GAETZ

		 	Name:	 	Richard E. Gaetz
		 	Title:	 	Chief Executive Officer
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	 VITRAN LOGISTICS CORP.,
 as a U.S. Borrower and as a Guarantor

		
	By:	 	 /S/ RICHARD E. GAETZ

		 	Name:	 	Richard E. Gaetz
		 	Title:	 	Chief Executive Officer
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	 VITRAN LOGISTICS, INC.,
 as a U.S. Borrower and as a Guarantor

		
	By:	 	 /S/ RICHARD E. GAETZ

		 	Name:	 	Richard E. Gaetz
		 	Title:	 	Chief Executive Officer
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	 SHORTHAUL TRANSPORT CORPORATION,
 as a U.S. Borrower and as a Guarantor

		
	By:	 	 /S/ RICHARD E. GAETZ

		 	Name:	 	Richard E. Gaetz
		 	Title:	 	Chief Executive Officer
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

  
 -
Signature Pages to Third Amendment to Credit Agreement - 

 
					
	 MIDWEST SUPPLY CHAIN, INC.,
 as a U.S. Borrower and as a Guarantor

		
	By:	 	 /S/ RICHARD E. GAETZ

		 	Name:	 	Richard E. Gaetz
		 	Title:	 	Chief Executive Officer
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	 CAN-AM LOGISTICS INC.,
 as a Guarantor

		
	By:	 	 /S/ RICHARD E. GAETZ

		 	Name:	 	Richard E. Gaetz
		 	Title:	 	President
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	 VITRAN LOGISTICS LIMITED,
 as a Guarantor

		
	By:	 	 /S/ RICHARD E. GAETZ

		 	Name:	 	Richard E. Gaetz
		 	Title:	 	Chief Executive Officer
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	 EXPEDITEUR T.W. LTEE,
 as a Guarantor

		
	By:	 	 /S/ RICHARD E. GAETZ

		 	Name:	 	Richard E. Gaetz
		 	Title:	 	Chief Executive Officer
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

  
 -
Signature Pages to Third Amendment to Credit Agreement - 

 
					
	 1098304 ONTARIO INC.,
 as a Guarantor

		
	By:	 	 /S/ RICHARD E. GAETZ

		 	Name:	 	Richard E. Gaetz
		 	Title:	 	President
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	 DONEY HOLDINGS INC.,
 as a Guarantor

		
	By:	 	 /S/ RICHARD E. GAETZ

		 	Name:	 	Richard E. Gaetz
		 	Title:	 	Chief Executive Officer
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	 ROUT-WAY EXPRESS LINES LTD./LES SERVICES ROUTIERS EXPRESS ROUT

LTEE,
 as a
Guarantor

		
	By:	 	 /S/ RICHARD E. GAETZ

		 	Name:	 	Richard E. Gaetz
		 	Title:	 	Chief Executive Officer
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	 1277050 ALBERTA INC.,
 as a Guarantor

		
	By:	 	 /S/ RICHARD E. GAETZ

		 	Name:	 	Richard E. Gaetz
		 	Title:	 	Chief Executive Officer
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

  
 -
Signature Pages to Third Amendment to Credit Agreement - 

 
					
	 SOUTHERN EXPRESS LINES OF ONTARIO LIMITED,
 as a Guarantor

		
	By:	 	 /S/ RICHARD E. GAETZ

		 	Name:	 	Richard E. Gaetz
		 	Title:	 	Chief Executive Officer
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	 VITRAN ENVIRONMENTAL SYSTEMS INC.,
 as a Guarantor

		
	By:	 	 /S/ RICHARD E. GAETZ

		 	Name:	 	Richard E. Gaetz
		 	Title:	 	President
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	 0772703 B.C. LTD.,
 as a Guarantor

		
	By:	 	 /S/ RICHARD E. GAETZ

		 	Name:	 	Richard E. Gaetz
		 	Title:	 	Chief Executive Officer
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	
	
	 1833660 ONTARIO INC.,
 as a Guarantor

		
	By:	 	 /S/ RICHARD E. GAETZ

		 	Name:	 	Richard E. Gaetz
		 	Title:	 	President
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

  
 -
Signature Pages to Third Amendment to Credit Agreement - 

 
					
	 VITRAN PROPERTIES USA, INC.,
 as a Guarantor

		
	By:	 	 /S/ RICHARD E. GAETZ

		 	Name:	 	Richard E. Gaetz
		 	Title:	 	Chief Executive Officer
		
	By:	 	  

		 	Name:	 	
		 	Title:	 	

  
 -
Signature Pages to Third Amendment to Credit Agreement - 

 “EXHIBIT A” 

REAL ESTATE SOLD TO LLC EXCLUDED SUBSIDIARIES 
 5500 Selma Hwy., Montgomery, AL 
 14 Tech Dr., Tifton, GA 

2222 Fourth St., Rock Island, IL 
 1294 Maxwell
Ave., Evansville, IN 
 2903 Foundation Dr., South Bend, IN 
 1602 Oliver Ave., Indianapolis, IN 
 615 Miami Ave., Kansas City, KS 

6525 Washington Blvd., Eldridge, MD 
 150
Becknell St., Pearl, MS 
 2034 E. Sweet Ave., Bismarck, ND 
 4229 15th Ave. NW, Fargo, ND 
 3537 Bruce St., N. Las Vegas, NV 

2789 E. Crescentville Rd., West Chester, OH 

2850 Kramer Dr., Gibsonia, PA 
 2007 Shoppers
Ln., Knoxville, TN 
 11529 Emerald St., Dallas, TX 
 2701 Roemer Rd., Appleton, WI 
 403 Holland St., Tomah, WI 

826 Dumaine Rd., Mobile, AL 
 1622 Cedar Grove
Rd., Conley, GA 
 2105 W. 162nd St., Markham, IL 
 18577 Dix-Toledo Hwy., Brownstown, MI 
 3890 Eastern SE, Grand Rapids, MI 

15 Route 173 East, Hampton, NJ 
 5300 Crayton
Ave., Cleveland, OH 
 5075 Krieger Ct., Columbus, OH 
 30520 Tracey Rd., Walbridge, OH 
 1200 Saint Johns Rd., Camp Hill, PA 

2727 Farrisview Blvd., Memphis, TN 
 4318
Northfield Ln., Houston, TX 

 “EXHIBIT B” 

LLC EXCLUDED SUBSIDIARIES 

Vitran Alabama, LLC 
 Vitran Georgia, LLC

 Vitran Illinois, LLC 
 Vitran
Indianapolis, LLC 
 Vitran Indiana, LLC 

Vitran Kansas, LLC 
 Vitran Maryland, LLC

 Vitran Michigan, LLC 
 Vitran
Mississippi, LLC 
 Vitran North Dakota, LLC 
 Vitran New Jersey, LLC 
 Vitran Nevada, LLC 

Vitran Toledo, LLC 
 Vitran Cincinnati, LLC

 Vitran Ohio, LLC 
 Vitran
Pennsylvania, LLC 
 Vitran Tennessee, LLC 
 Vitran Texas, LLC 
 Vitran Wisconsin, LLC 
 Vitran Wichita, LLC 
 Vitran Sioux Falls, LLC 

 “EXHIBIT C” 

FORM OF JOINDER AGREEMENT 
 THIS JOINDER AGREEMENT (this “Agreement”), dated as of December 28, 2012, is entered into between VITRAN PROPERTIES USA, INC., a Delaware corporation (the “New
Subsidiary”) and JPMORGAN CHASE BANK, N.A., in its capacity as administrative agent (the “Administrative Agent”) under that certain Credit Agreement dated as of November 30, 2011 (as the same may be amended, modified,
extended or restated from time to time, the “Credit Agreement”) among Vitran Corporation, a Nevada corporation, Vitran Corporation Inc., an Ontario corporation, the other Loan Parties party thereto, the Lenders party thereto,
JPMORGAN CHASE BANK, N.A., Toronto Branch, as Canadian Administrative Agent and the Administrative Agent. All capitalized terms used herein and not otherwise defined herein shall have the meanings set forth in the Credit Agreement. 

The New Subsidiary and the Administrative Agent, for the benefit of the Lenders, hereby agree as follows: 

1. The New Subsidiary hereby acknowledges, agrees and confirms that, by its execution of this Agreement, the New Subsidiary will be
deemed to be a Loan Party under the Credit Agreement and a U.S. Loan Guarantor for all purposes of the Credit Agreement and shall have all of the rights, duties, benefits and obligations of a Loan Party and a U.S. Loan Guarantor thereunder as if it
had executed the Credit Agreement. The New Subsidiary hereby ratifies, as of the date hereof, and agrees to be bound by, all of the terms, provisions and conditions contained in the Credit Agreement, including without limitation (a) all of the
representations and warranties of the Loan Parties set forth in Article III of the Credit Agreement, (b) all of the covenants set forth in Articles V and VI of the Credit Agreement and (c) all of the guaranty obligations set forth in
Article X of the Credit Agreement. Without limiting the generality of the foregoing terms of this paragraph 1, the New Subsidiary, subject to the limitations set forth in Section 10.9 of the Credit Agreement, hereby guarantees, jointly and
severally with the other Loan Guarantors, to the Administrative Agent and the Lenders, as provided in Article X of the Credit Agreement, the prompt payment and performance of the Guaranteed Obligations in full when due (whether at stated maturity,
as a mandatory prepayment, by acceleration or otherwise) strictly in accordance with the terms thereof and agrees that if any of the Guaranteed Obligations are not paid or performed in full when due (whether at stated maturity, as a mandatory
prepayment, by acceleration or otherwise), the New Subsidiary will, jointly and severally together with the other Loan Guarantors, promptly pay and perform the same, without any demand or notice whatsoever, and that in the case of any extension of
time of payment or renewal of any of the Guaranteed Obligations, the same will be promptly paid in full when due (whether at extended maturity, as a mandatory prepayment, by acceleration or otherwise) in accordance with the terms of such extension
or renewal. 
 2. If required, the New Subsidiary is, simultaneously with the execution of this Agreement, executing and
delivering such Collateral Documents (and such other documents and instruments) as requested by the Administrative Agent in accordance with the Credit Agreement. 
 3. The address of the New Subsidiary for purposes of Section 9.1 of the Credit Agreement is as follows: 

					
		 	  
	 	
		 	  
	 	
		 	  
	 	
		 	  
	 	

 4. The New Subsidiary hereby waives acceptance by the Administrative Agent and the Lenders of the
guaranty by the New Subsidiary upon the execution of this Agreement by the New Subsidiary. 
 5. This Agreement may be executed
in any number of counterparts, each of which when so executed and delivered shall be an original, but all of which shall constitute one and the same instrument. 
 6. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE PROVINCE OF ONTARIO AND THE FEDERAL LAWS OF
CANADA APPLICABLE THEREIN. 

 IN WITNESS WHEREOF, the New Subsidiary has caused this Agreement to be duly executed by its
authorized officer, and the Administrative Agent, for the benefit of the Lenders, has caused the same to be accepted by its authorized officer, as of the day and year first above written. 

 

			
	VITRAN PROPERTIES USA, INC.
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

	
	Acknowledged and accepted:
	
	JPMORGAN CHASE BANK, N.A., as Administrative Agent
		
	By:	 	  

		
	Name:	 	  

		
	Title:	 	  

 “EXHIBIT D” 

CLOSING AGENDA 
 (See Attached) 

 SCHEDULES 
 (See Attached)

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