Document:

Table of Contents

EXHIBIT 4.16 

Agreement among Vivo Participações S.A., Ericsson and Huawei—English summary. 

In August 2006, we began installing a new network based on GSM/GPRS/EDGE technology, with a core dual 2G/3G and 2G access, which will be superimposed onto the current CDMA network of Vivo, with completion scheduled for December 31, 2010. Such
implementation includes acquiring all the hardware, software and engineering services necessary as well as installation, configuration, integration, testing, activation and temporary operation of the respective elements. The contracts also include
the SW updates and the furnishing of the new features, guarantees, support and management, as well as O&M and integration with the network system management, the interaction capability of the networks to function with other operators and
integrating with the service platforms. The total cost of this new network is R$1,089 million. 

Vivo signed contracts with Ericsson and Huawei on August 4, 2006 to deploy the GSM network on its current CDMA network. 

Scope of contract:

Suppliers will provide Vivo with the core voice and data networks (Ericsson only) as well as the radio access (Ericsson and Huawei) for a GSM overlay which should evolve to UMTS.

Around 6,900 radio base stations will be deployed and would cover most of the country, with vendors responsible for the whole roll out of the project, including network design, planning, consultancy, customer support and training. In order to
guarantee quality of service, Vivo defined a comprehensive set of Key Performance Indicators to be fulfilled by the vendors. 

The project has the following two phases: 

Phase 1: Capacity installation: 53,000 Erl by January 31, 2007; 

Phase 2: Additional capacity installation: 53,000 Erl by December 31, 2007, leading to a total of 106,000 Erl.EX-10.1

Exhibit 10.1

PURCHASE AND SALE AGREEMENT

THIS PURCHASE AND SALE AGREEMENT (this “Agreement”) is made and entered into as of April 30,
2007, by and among THE ST. JOE COMPANY, a Florida corporation (“Joe”), 280 INTERSTATE NORTH,
L.L.C., a Delaware limited liability company, (“280 Interstate”), SOUTHHALL CENTER, LLC, a Florida
limited liability company, (“Southhall”), MILLENIA PARK ONE, L.L.C., a Florida limited liability
company (“Millenia”), 5660 NND, L.L.C., a Florida limited liability company (“5600”), GEORGIA WIND
I, LLC, a Florida limited liability company (“Georgia Wind I”), GEORGIA WIND II, LLC, a Florida
limited liability company (“Georgia Wind II”), GEORGIA WIND III, LLC, a Florida limited liability
company (“Georgia Wind III”), RIVERSIDE CORPORATE CENTER, LLC, a Florida limited liability company
(“Riverside”), OVERLOOK I & II LLC, a Florida limited liability company (“Overlook”), DEER POINT I
& II, LLC, a Florida limited liability company (“Deer Point”), PARK POINT, LLC, a Florida limited
liability company (“Park Point”), PARK POINT LAND, LLC, a Florida limited liability company (“Park
Point Land”) and PLUME STREET, LLC, a Delaware limited liability company (“Plume Street”) (Joe,
280 Interstate, Southhall, Millenia, 5660, Georgia Wind I, Georgia Wind II, Georgia Wind III,
Riverside, Overlook, Deer Point, Park Point, Park Point Land and Plume Street are collectively
referred to as “Seller”) and EOLA CAPITAL LLC, a Florida limited liability company (“Purchaser”).

W I T N E S S E T H:

A. Joe is the fee owner of those certain real properties located in (i) Panama City Beach, Bay
County, Florida and more particularly described on Exhibit A, (the “Beckrich One Property”)
(ii) Panama City Beach, Bay County, Florida and more particularly described on Exhibit A-1
(the “Beckrich Two Property”) and (iii) Tallahassee, Leon County, Florida and more particularly
described on Exhibit A-2 (the “Southwood One Property”) to this Agreement.

B. 280 Interstate is the fee owner of that certain real property located in Atlanta, Cobb
County, Georgia and more particularly described on Exhibit A-3 (the “280 Interstate North
Property”) to this Agreement.

C. Southhall is the fee owner of that certain real property located in Maitland, Orange
County, Florida and more particularly described on Exhibit A-4 (the “Southhall Center
Property”) to this Agreement.

D. Millenia is the fee owner of that certain real property located in Orlando, Orange County,
Florida and more particularly described on Exhibit A-5 (the “Millenia Park One/Legacy Point
Property”) to this Agreement.

E. 5660 is the fee owner of that certain real property located in Atlanta, Fulton County,
Georgia and more particularly described on Exhibit A-6 (the “5660 New Northside Drive
Property”) to this Agreement.

F. Georgia Wind I is the fee owner of that certain real property located in Alpharetta, Fulton
County, Georgia, and more particularly described on Exhibit A-7 (the “100 Windward Plaza
Property”) to this Agreement.

G. Georgia Wind II is the fee owner of that certain real property located in Alpharetta,
Fulton County, Georgia, and more particularly described on Exhibit A-8 (the “Windward
Pointe 200 Property”) to this Agreement.

H. Georgia Wind III is the fee owner of that certain real property located in Alpharetta,
Fulton County, Georgia, and more particularly described on Exhibit A-9 (the “300 Windward
Plaza”) to this Agreement.

I. Riverside is the fee owner of that certain real property located in Jacksonville, Duval
County, Florida, and more particularly described on Exhibit A-10 (the “245 Riverside
Property”) to this Agreement.

J. Overlook is the fee owner of those certain properties located in Glen Allen, Henrico
County, Virginia and more particularly described on Exhibit A-11 (the “Overlook I & II
Property”) to this Agreement.

K. Deer Point is the fee owner of those certain properties located in Alpharetta, Fulton
County, Georgia and more particularly described on Exhibit A-12 (the “Deerfield Point I &
II Property”) to this Agreement.

L. Park Point is the fee owner of that certain property located in Atlanta, Cobb County,
Georgia and more particularly described on Exhibit A-13 (the “Parkwood Point Property”) to
this Agreement.

M. Park Point Land is the fee owner of a 50% interest as tenant in common of that certain
property located in Atlanta, Cobb County, Georgia and more particularly described on Exhibit
A-14 (the “Park Point Land Property”) to this Agreement.

N. Plume Street is the fee owner of that certain property located in Norfolk, Virginia and
more particularly described on Exhibit A-15 (the “Norfolk Property”) to this Agreement.
The Beckrich One Property, the Beckrich Two Property, the Southwood One Property, the 280
Interstate North Property, the Southhall Center Property, the Millenia Park One/Legacy Point
Property, the 5660 New Northside Drive Property, the 100 Windward Plaza Property, the Windward
Pointe 200 Property, the 300 Windward Plaza Property, the 245 Riverside Property, the Overlook I &
II Property, the Deerfield Point I Property, the Deerfield Point II Property, the Parkwood Point
Property, the Parkwood Point Land and the Norfolk Property are collectively referred to as the
“Property” or the “Properties”.

O. The Beckrich One Property is improved with one (1) two (2) story office building (the
“Beckrich One Building”) having an address of 100 Beckrich Road, Panama City Beach, Florida 32407.

P. The Beckrich Two Property is improved with one (1) two (2) story office building (the
“Beckrich Two Building”) having an address of 120 Beckrich Road, Panama City Beach, Florida 32407.

Q. The Southwood One Property is improved with one (1) three (3) story office building (the
“Southwood One Building”) having an address of 3800 Esplanade Way, Tallahassee, Florida 32311.

R. The 280 Interstate North Property is improved with one (1) six (6) story office building
(the “280 Interstate North Building”) having an address of 280 Interstate North Circle, Atlanta,
Georgia 30339.

S. The Southhall Center Property is improved with a four (4) story office building office
building (the “Southhall Center Building”) having an address of 101 Southhall Lane, Maitland,
Florida 32751.

T. The Millenia Park One/Legacy Point Property is improved with one (1) six (6) story office
building (the “Millenia Park One/Legacy Point Building”) having an address of 4901 Vineland Road,
Orlando, Florida 32811.

U. The 5660 New Northside Drive Property is improved with one (1) fourteen (14) story office
building (the “5660 New Northside Drive Building”) having an address of 5660 New Northside Drive,
Atlanta, Georgia 30328.

V. The 100 Windward Plaza Property is improved with one (1) five (5) story office building
(the “100 Windward Plaza Building”) having an address of 4005 Windward Plaza Drive, Alpharetta,
Georgia 30005.

W. The Windward Pointe 200 Property is improved with one (1) five (5) story office building
(the “Windward Pointe 200 Building”) having an address of 5900 Windward Parkway, Alpharetta,
Georgia 30005.

X. The 300 Windward Plaza Property is improved with one (1) five (5) story office building
(the “300 Windward Plaza Building”) having an address of 4125 Windward Plaza Drive, Alpharetta,
Georgia 30005.

Y. The 245 Riverside Property is improved with one (1) seven (7) story office building (the
“245 Riverside Building”) having an address of 245 Riverside Avenue, Jacksonville, Florida 32202.

Z. The Overlook I & II Property is improved with (i) one (1) three (3) story office building
(the “Overlook I Building”) having an address of 4880 Sadler Road, Glen Allen, Virginia 23060, and
(ii) one (1) three (3) story office building (the “Overlook II Building”) having an address of 4870
Sadler Road, Glen Allen, Virginia 23060.

AA. The Deerfield Point I Property is improved with (i) one (1) four (4) story office building
(the “Deerfield Point I Building”) having an address of 12725 Morris Road Extension, Alpharetta,
Georgia 30004, and (ii) one (1) four (4) story office building (the “Deerfield Point II Building”)
having an address of 12735 Morris Road Extension, Alpharetta, Georgia 30004.

BB. The Parkwood Point Property is improved with one (1) eight (8) story office building (the
“Parkwood Point Building”) having an address of 2018 Powers Ferry Road, Atlanta, Georgia 30339.

CC. The Parkwood Point Land is unimproved land located on Powers Ferry Road, Atlanta, Georgia
30339.

DD. The Norfolk Property is improved with one (1) twenty (20) story office building (the
“Norfolk Building”) having an address of 150 West Main Street, Norfolk, Virginia 23510.

EE. Each Seller desires to sell, and Purchaser desires to purchase, the Property upon the
terms and conditions set forth in this Agreement.

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

1. Purchase and Sale. On the Closing Date (as herein defined in Section 6(a)), and
subject to the terms and conditions of this Agreement, Seller agrees to sell and deliver the
Property to Purchaser, and Purchaser agrees to purchase and accept the Property from Seller. For
all purposes of this Agreement, the Property shall be deemed to include the following:

(a) the Buildings and all other improvements and fixtures of any nature erected on the
Property other than any improvements or fixtures which are the property of tenants (collectively,
the “Improvements”), and all right, title and interest of Seller in and to any and all
(i) easements, covenants, appurtenances, tenements and hereditaments pertaining thereto, (ii) air
space and private rights-of-way serving or appurtenant to the Property, and (iii) land lying in the
bed of any street, road, avenue or alley, proposed, open or closed, in front of or adjoining the
Property, to the centerline thereof;

(b) all tangible personal property owned by each Seller, located at and used in connection
with the management, repair, maintenance and/or operation of the Property (the “Tangible Personal
Property”);

(c) all right, title and interest of each Seller in and to the following:

(d) all assignable governmental licenses, approvals, authorizations and permits respecting the
use and occupancy of each Property (collectively, the “Governmental Approvals”);

(e) all assignable drawings, plans, specifications, surveys and manuals, and warranties, if
any (collectively, the “Plans and Specifications”);

(f) all leases and occupancy agreements (collectively, the “Leases”) in effect as of the
Closing Date, including any and all deposits, letters of credit, and escrows (and any required
interest thereon) and prepaid rents;

(g) all assignable service, supply, maintenance and/or security contracts (collectively, the
“Service Contracts”) to be assigned to Purchaser as of the Closing Date in accordance with the
terms of this Agreement;

(h) all assignable construction, architectural and engineering contracts (collectively, the
“Construction Contracts”) to be assigned to Purchaser as of the Closing Date in accordance with the
terms of this Agreement; and

(i) All trademarks, logos and tradenames or other intangible rights relating to each Property
and/or Building, except any trade names or trade marks of “The St. Joe Company” or any of its
affiliates.

2. Feasibility Period.

(a) Feasibility Rights. For the period commencing on April 24, 2007 (the “Feasibility
Period Commencement Date”) and expiring at 5:00 PM, eastern time, on May 9, 2007 (the “Feasibility
Period”), Purchaser and its authorized agents and representatives shall have the right, during
normal business hours and upon prior reasonable notice given to Seller (which notice may be given
by facsimile transmission), to conduct such Feasibility Studies (as herein defined below) as
Purchaser, in its sole discretion, shall desire in order to evaluate the desirability of its
intended acquisition of the Property, subject, however, to Section 10(b) hereof, rights of tenants
in possession and to the remaining provisions of this Section 2. Notwithstanding the foregoing,
(i) Seller and its authorized agent(s), representative(s) or contractor(s) shall have the right to
be present upon any entry of the Property by Purchaser or any agent, representative or contractor
of Purchaser, (ii) Purchaser shall not have the right to communicate with Building tenants or any
Building tenant representatives except upon reasonable advance written notice (which notice may be
by electronic mail) to one of the Seller Knowledge Parties (as hereinafter defined), and Seller (or
its designee) shall have the right, but not the obligation to participate in such communication or
tenant interview (iii) Purchaser shall conduct its Feasibility Studies in a manner so as to
minimize any interference with Building tenants, occupants and invitees, the operation of the
Property or any injury or damage to the Property, and (iv) Purchaser shall not have the right to
conduct any Feasibility Study which is invasive in nature to any portion of the Property
(including, without limitation, drilling, coring or x-ray procedures) without the prior written
consent of Seller in each instance first obtained, which consent shall not be unreasonably withheld
by Seller but may be conditioned, in the discretion of Seller, upon the conditions that (y) Seller
have the right to reasonably approve, in advance, the intended Feasibility Study, and (z) Purchaser
conduct and perform any such Feasibility Study in accordance in all material respects with best
industry procedures, and otherwise in such a manner as to minimize interference with any Building
tenants, occupants and invitees, and the operation of the Property or any injury or damage to the
Property. For purposes hereof, “Feasibility Studies” means all assessments, inspections,
investigations and other studies of the environmental, economic, legal and/or physical condition of
the Property (including, without limitation, environmental audits, reports and assessments,
architectural and structural engineering inspections, investigations and studies, soils analyses
and borings and reviews of Tangible Personal Property, Governmental Approvals, Plans and
Specifications, Leases, Service Contracts and Construction Contracts), and civil engineering
inspections and surveys.

(b) Seller’s Cooperation. In order to facilitate the conduct of the Feasibility
Studies of Purchaser, prior to or simultaneously with the execution and delivery of this Agreement,
Seller has delivered to or for the benefit of Purchaser copies of the documents described on
Exhibit B to this Agreement (collectively, the “Seller Disclosures”), to the extent in
Seller’s possession or control. In addition, during the Feasibility Period, Seller shall provide
to Purchaser access at the Property to all documents in the possession of Seller and relating to
the physical condition, or the operation, management, maintenance or repair of the Property
(excluding, however, financial information of Seller, or any of its respective or derivative
members and owners, internal reports, memoranda, correspondence and other information, and matters
between Seller and its lender, and all privileged communications with legal counsel), with the
right in Purchaser, at the cost and expense of Purchaser, to inspect the same and make copies
thereof, it being acknowledged that such access, right of inspection and right to copy is given
without express or implied representation or warranty made by Seller in any respect.

(c) Right of Termination. Purchaser, in its sole discretion and for any reason, shall
have the right to terminate this Agreement upon written notice given to Seller at any time prior to
the expiration of the Feasibility Period, in which event this Agreement thereupon shall terminate,
the Additional Deposit (as herein defined in Section 3(a)), to the extent made by Purchaser, shall
be released to Purchaser, and neither Seller nor Purchaser shall have any further rights against or
obligations to the other hereunder except as expressly provided in this Agreement.

3. Deposit; Escrow.

(a) Deposit. Within two (2) business days of the execution and delivery of this
Agreement by the parties, Purchaser shall deliver to Seller immediately available funds in the
amount of FIVE MILLION AND 00/100 DOLLARS ($5,000,000.00) and representing the initial deposit
under this Agreement (the “Initial Deposit”). The Initial Deposit shall be non-refundable to
Purchaser except in the event of a default by Seller under this Agreement or failure of a condition
under Section 11(a) hereof, and shall be applied to the Purchase Price at Closing.

(b) Additional Deposit. If Purchaser does not terminate this Agreement as and in the
manner provided in Section 2(c) hereof, then no later than the two business days after the date of
expiration of the Feasibility Period, Purchaser shall deliver to Commercial Property Title, LLC,
attention Matthew McAfee, as agent of First American Title Insurance Company (the “Escrow Agent”),
immediately available funds in the amount of SEVEN MILLION DOLLARS ($7,000,000.00) (the “Additional
Deposit”) as an additional earnest money deposit hereunder, which Additional Deposit, together with
all interest and/or other income earned thereon and the proceeds thereof, shall be held and
invested, and applied or released by the Escrow Agent in accordance with Section 3(a) hereof;
provided, however, if for any reason Purchaser shall fail to deliver the Additional Deposit as and
in the manner provided in the preceding sentence, then and in such event and notwithstanding any
provision of this Agreement express or implied to the contrary, this Agreement thereupon
automatically shall terminate, the Initial Deposit shall be fully earned by Seller and neither
party shall have any further rights against or obligations to the other hereunder except as
expressly provided in this Agreement. The Additional Deposit shall be non-refundable to Purchaser
except in the event of a default by Seller under this Agreement or failure of a condition under
Section 11(a) hereof, and shall be applied to the Purchase Price at Closing. As used herein, the
term “Deposit” shall mean, collectively, the Initial Deposit, and, if and when paid, the Additional
Deposit (and all interest and/or other income earned thereon and all proceeds thereof).

(c) Escrow. Seller and Purchaser hereby (i) indemnify and agree to hold harmless and
defend the Escrow Agent, as escrow agent hereunder, in the good faith performance of its duties
hereunder as such escrow agent, (ii) release the Escrow Agent, from and against any liability to
Seller or Purchaser hereunder except for fraud, gross negligence or willful misconduct,
(iii) authorize the Escrow Agent to rely upon any signature, notice, demand, waiver, consent or
other instrument in good faith believed by it to be genuine, and (iv) in the event of a dispute
between Seller and Purchaser respecting the proper disposition of the Additional Deposit, authorize
the Escrow Agent to pay the Additional Deposit into the registry of any court asserting
jurisdiction over this Agreement.

4. Purchase Price and Terms of Payment.

(a) The purchase price (“Purchase Price”) for the Property shall be THREE HUNDRED EIGHTY-THREE
MILLION AND 00/100 DOLLARS ($383,000,000.00) and shall be paid on the Closing Date by Federal funds
wire transfer, in United States dollars, subject to adjustment as provided for in Section 7 hereof.
The Purchase Price shall be allocated at Closing with $56,000,000 allocated to the Norfolk
Property; $44,000,000.00 allocated to the Parkwood Point Property; $2,500,000.00 allocated to the
Park Point Land Property; and $280,500,000.00 allocated to all remaining Properties; provided,
however, during the Feasibility Period, Seller shall provide Purchaser with an allocation of the
Purchase Price for the Properties which are not specifically allocated pursuant to the terms of
this Agreement for purposes of transfer taxes to be paid at Closing, which allocation shall be
subject to Purchaser’s reasonable approval. The Additional Deposit shall be paid by the Escrow
Agent to Seller on the Closing Date and the entire Deposit shall be credited against the Purchase
Price.

(b) Subject to Section 6(a) below, on the Closing Date Purchaser shall accept title to the
Norfolk Property subject to the lien of that certain Deed of Trust and Security Agreement dated
September 26, 2003, which secures that certain promissory note in the original principal amount of
Thirty Million Dollars ($30,000,000) (the “Norfolk Existing Loan”), executed by 100 Main Street,
LLC, a Virginia limited liability company (“100 West Main”), as assigned to Plume Street in favor
of JPMorgan Chase Bank and assigned to Wells Fargo Bank, N.A., as Trustee for the Registered
Holders of J.P. Morgan Chase Commercial Mortgage Securities Corp., Commercial Mortgage Pass-Through
Certificates, Series 2004-C1 (the “Norfolk Existing Lender). Purchaser shall receive a credit
against the Purchase Price in an amount equal to the aggregate outstanding principal balance of the
Norfolk Existing Loan as of the Closing Date. The Seller shall pay or, at Seller’s option, allow
buyer a credit against the Purchase Price in an amount equal to all unpaid interest and other
charges on the Norfolk Existing Loan accrued through and including the day immediately preceding
the date of Closing.

(c) Subject to Section 6(a) below, on the Closing Date, Purchaser shall accept title to the
Parkwood Point Property subject to the lien of that certain Deed to Secure Debt, Assignment of
Leases and Rents and Security Agreement dated December 12, 2002 which secures that certain
promissory note in the original principal amount of Thirty Million Five Hundred Dollars
($30,500,000) (the “Parkwood Point Existing Loan”), executed by Parkwood Point, L.P., a Georgia
limited partnership, as assigned to Park Point in favor of Teachers Insurance and Annuity
Association of America (the “Parkwood Point Existing Lender”). Purchaser shall receive a credit
against the Purchase Price in an amount equal to the aggregate outstanding principal balance of the
Parkwood Point Existing Loan as of the Closing Date. The Seller shall pay or, at Seller’s option,
allow buyer a credit against the Purchase Price in an amount equal to all unpaid interest and other
charges on the Parkwood Point Existing Loan accrued through and including the day immediately
preceding the date of Closing.

5. Title.

(a) Title Documents. Seller has delivered to Purchaser true and complete copies of
the following: (i) an ALTA Form B 1992 owner’s title commitment for title insurance (the
“Commitment”) issued by First American Title Insurance Company (the “Title Company”), together with
all exceptions contained therein, and (ii) surveys of the Properties (collectively, the “Survey”)
conforming to requirements for ALTA/ACSM Land Urban Surveys. The Commitment and Survey together
are referred to in this Agreement as the “Title Documents.”

(b) Permitted Exceptions. On the Closing Date, title to the Property shall be subject
to no facts, conditions, requirements or exceptions, excepting only (i) Leases in effect as of the
date hereof which also shall be in effect as of the Closing Date (as the same may be modified or
amended, or assigned or sublet in accordance with Section 8(c) hereof), together with such
additional Leases as permissively may be entered into by Seller during the term of this Agreement
in accordance with Section 8(c) hereof (collectively, the “Approved Leases”), (ii) the lien of real
estate taxes not yet due and payable, (iii) the matters described on Exhibit C, Exhibit
C-1, Exhibit C-2, Exhibit C-3, Exhibit C-4, Exhibit C-5,
Exhibit C-6, Exhibit C-7, Exhibit C-8, Exhibit C-9, Exhibit
C-10, Exhibit C-11, Exhibit C-12, Exhibit C-13 and Exhibit C-14
(iv) any additional facts, conditions, requirements and exceptions set forth in the Title Documents
and accepted or deemed to have been accepted by Purchaser pursuant to the remaining provisions of
this Section 5 and (v) liens, encumbrances or other matters of title created or suffered to be
created by Purchaser or any party whose rights derive by, through or under Purchaser (collectively,
the “Permitted Exceptions”).

(c) Notice of Objection. Purchaser shall have the right, in its sole discretion, to
object to any fact, condition, requirement or exception set forth or otherwise disclosed in the
Title Documents other than the Permitted Exceptions (a “Title Defect”) upon written notice given to
Seller (“Notice of Objection”) no later than ten (10) days after the later of (i) Seller’s delivery
of the Commitment and the Survey or (ii) the date of execution of this Agreement by Seller and
Purchaser (the “Title Review Period”). Subject to Section 5(d) below, Purchaser shall be deemed to
have accepted any fact, condition, requirement or exception reflected in the Title Documents for
which no Notice of Objection timely shall have been given. Purchaser shall have the right to
update the Commitment up to and through the Closing Date (as the same may be extended) and
Purchaser shall be deemed to have waived its right to object to any new Title Defect reflected on
any update of the Commitment unless Purchaser shall give a written Notice of Objection with respect
to such Title Defect to Seller no later than ten (10) days after Purchaser’s receipt of such update
to the Commitment.

(d) Seller’s Title Rights and Obligations. Seller shall have the right, in its sole
discretion, and upon written notice to Purchaser given within five (5) business days from and after
the date any Notice of Objection shall have been given by Purchaser (the “Reply Period”), within
which to agree to satisfy or cure any title objection so noticed by Purchaser (“Notice of Cure”).
Seller shall be deemed to have refused to satisfy or cure, as the case may be, any and each fact,
condition, requirement and/or exception so noticed by Purchaser for which no such Notice of Cure
shall be given within the Reply Period. Notwithstanding the foregoing, and without the requirement
that any Notice of Objection be given by Purchaser, Seller hereby agrees as follows:

(i) On the Closing Date, to deliver to the Title Company all appropriate substantiation
of the existence, good standing, power and authority of Seller;

(ii) on the Closing Date, to deliver to the Title Company all appropriate
substantiation (including commercially standard seller affidavits) sufficient in order to
satisfy the Schedule B-I requirements of the Commitment(s) (except those Schedule B-I
requirements which are required of Purchaser), and delete the standard exceptions and
exceptions based upon rights or claims of parties in possession, other than tenants and
occupants under Approved Leases in effect as of the Closing Date;

(iii) on the Closing Date, (x) to pay and satisfy in full and release of record any and
all mortgage or deed of trust liens granted by Seller (other than the Existing Norfolk Loan
and the Existing Parkwood Point Loan which are being assumed by Purchaser pursuant to this
Agreement) and all delinquent real estate taxes, together with any and all interest and
penalties thereon, and (y) to pay and satisfy in full, or otherwise cause to be
affirmatively insured (either by obtaining a full release of record of, or bonding over,
indemnifying or escrowing with the Title Company), mechanics’ and materialmen’s liens and/or
notices of liens filed against the Property or any portion of the Property and arising out
of work performed or materials supplied for or on behalf of Seller, and other monetary
judgments and/or actions at law against Seller and constituting a lien against the Property
or any portion of the Property, it being understood that Seller may apply the Purchase
Price, or any portion thereof to satisfy Seller’s obligations under this clause (iii).

(e) Purchaser Rights. If Seller shall not give a Notice of Cure with respect to each
fact, condition, requirement and/or exception which is the subject of any proper Notice of
Objection, Purchaser thereupon shall have the right in the sole discretion of Purchaser and as
Purchaser’s exclusive right and remedy hereunder to elect to terminate this Agreement under and in
accordance with the provisions of Section 2(c) hereof and Escrow Agent shall promptly return the
Additional Deposit (to the extent such Additional Deposit was made by Purchaser) to Purchaser, it
being agreed that, if Purchaser for any reason shall fail to so terminate this Agreement, then
Purchaser conclusively shall be deemed to have elected to close hereunder without abatement of the
Purchase Price or any claim against Seller notwithstanding the existence of such fact, condition,
requirement and/or exception.

6. Closing.

(a) Closing Date. The closing of the sale and purchase of the Property (the
“Closing”) shall be held at the offices of McGuireWoods LLP, Bank of America Tower, 50 North Laura
Street, Suite 3300, Jacksonville, Florida 32202-3661 at 2:00 p.m., eastern time, on June 13, 2007,
unless otherwise agreed upon in writing by Seller and Purchaser. In the event that Purchaser has
not received written approval to assume the Norfolk Existing Loan and the Parkwood Point Existing
Loan from the Norfolk Existing Lender and the Parkwood Point Existing Lender, respectively, at
least five (5) business days before the date originally scheduled for Closing, the Norfolk Property
and/or the Parkwood Point Property, as applicable, shall be excluded from the Closing (such
Property thereafter being referred to as an “Excluded Property”), Purchaser shall close on the
remaining Properties, and the Purchase Price shall be reduced by the portion(s) of the Purchase
Price allocated to the Norfolk Property and/or the Parkwood Point Property, as applicable. Seller
and Purchaser agree that the Closing may occur via delivery of funds and closing documents into
escrow with the Escrow Agent, or at such other place as may be mutually agreeable to Seller and
Purchaser. The actual date of each Closing hereunder is referred to in this Agreement as a
“Closing Date” and collectively as the “Closing Dates.”

(b) Tender of Performance. On the Closing Date, the delivery to the Escrow Agent of
the Purchase Price for the Property, an executed and acknowledged special or limited warranty deed
of conveyance for each Property as required herein, and all other funds, documents and/or
instruments required to be delivered by either party to another under this Agreement, in each
instance pursuant to escrow instructions issued by legal counsel to Purchaser and Seller in form
and in substance in accordance with prevailing industry standards, shall be deemed to be a good and
sufficient tender of performance of the terms hereof (except for the provisions hereof that
expressly survive Closing). In addition, on the Closing Date, Seller and Purchaser shall deliver
to the other, and to the Title Company, such additional or other documents or instruments as
reasonably may be requested in order to accomplish Closing as intended hereunder. Notwithstanding
any provision of this Agreement, express or implied, to the contrary, including without limitation
Section 7 hereof, if the Purchase Price for any reason shall not be disbursed to Seller on the
Closing Date, then all assessments and income and expense prorations shall be readjusted between
Seller and Purchaser to the day of such disbursement, it being agreed that Seller shall not assume
the loss of net income generated by the Property as a result of a delay in Closing, recordation
and/or disbursement for any reason and without regard to fault.

(c) Further Assurances. From time to time after the Closing Date, Seller and
Purchaser, without charge to the other, shall perform such other acts, and shall execute and
acknowledge and shall furnish such other documents, instruments, materials and/or information which
any such party or the Title Company reasonably may request in order to effect the intent of, and
the consummation of the transactions provided in, this Agreement. In furtherance and not in
limitation of the foregoing, Purchaser agrees to make the books and records of the Property for all
periods prior to the Closing Date (and if any tax appeal shall be prosecuted for any tax period
covering both the period of Seller’s ownership and the period of Purchaser’s ownership, applicable
tax appeal information) available to Seller for its tax purposes for a period of two (2) years
after the Closing Date. This Section 6(c) shall survive Closing and the delivery of the deed of
conveyance hereunder.

(d) Possession. Seller agrees to give to Purchaser possession of the Property on the
Closing Date, subject to the rights of tenants in possession under Approved Leases in effect as of
the Closing Date.

(e) Risk of Loss. Except as provided in Section 10(b) and Section 14 hereof, the risk
of loss shall be borne by Seller until the deeds of conveyance hereunder are delivered to
Purchaser.

7. Apportionments and Adjustments; and Closing Costs.

(a) Apportionments; In General. Subject to the remaining provisions of this Section
7, the following shall be apportioned between Seller and Purchaser as of 11:59 p.m. on the day
preceding the Closing Date, with Purchaser being deemed the owner of the Property on the Closing
Date, and thereafter shall be paid or received, as the case may be, by Purchaser: rents (“Rents”),
reimbursement of real estate taxes and operating expenses, other tenant charges under Leases, and
rent abatements and concessions under Leases (collectively, “CAM”), to the extent accrued and paid
as of the Closing Date; real property taxes, including any special assessments and business
improvement or special taxing area assessment, if any (collectively, “Taxes”), on the basis of the
tax year in which Closing occurs; water charges and sewer rents and charges and other utility
charges (collectively, “Utilities”) for the month or period in which Closing occurs; payments for
the month in which Closing occurs under Service Contracts assigned to Purchaser; and all other
items of expense and income in connection with the operation of the Property.

(b) Rents. Purchaser will receive a credit at Closing for all Rents collected by
Seller prior to the Closing Date and allocable to the period from and after the Closing based upon
the actual number of days in the month; provided, however, Seller shall retain all rights to
receive any lease termination payments received from APAC, with respect to the 100 Windward Plaza
Property Property and no portion of the termination payment received from APAC shall be subject to
proration. With respect to any unpaid or delinquent Rents existing as of the Closing Date,
Purchaser shall remit the same to Seller as, when and only to the extent received, on a
tenant-by-tenant basis, monthly, no later than the last day of each calendar month, and Purchaser
shall use commercially reasonable efforts to collect all such delinquent rents for the benefit of
Seller, provided, that Purchaser shall not be obligated to terminate a Lease, declare a default
under a Lease or bring suit against a tenant therefor, or incur any expense over and above its own
regular collection expenses, and, provided, further, that Seller shall not be deemed to waive any
right to bring suit against a tenant for any delinquent Rents, but Seller shall have no right to
sue to evict any tenants or terminate any Leases. Any Rent received by Seller from and after the
Closing Date for any period(s) after the Closing Date promptly shall be remitted to Purchaser. For
purposes of this Agreement, Rents received by Purchaser or Seller after Closing shall be applied in
the following order:

(i) First, to Rents due but unpaid for the calendar month in which the Closing Date
falls;

(ii) Second, to Rents then due and payable to Purchaser for calendar months following
the calendar month in which the Closing Date falls, but not, for the avoidance of doubt, to
prepay any Rents not due and payable at the time such Rent is received;

(iii) Third, to pay any Rents related to the period prior to the Closing Date which
have not been previously paid; and

(iv) Fourth, as Purchaser may direct.

(c) Taxes. If the Closing Date occurs before the tax assessment or rate for such tax
year is fixed, an apportionment of Taxes shall be made on the Closing Date upon the basis of the
tax assessment and rate for the preceding tax year and final adjustment shall be made within sixty
(60) days of the issuance of a final tax bill for the tax year in which Closing occurs. If any
proceeding for reduction of the assessed valuation of the Property has been or hereafter is filed
for a tax period covering both the period of Seller’s ownership and the period of Purchaser’s
ownership, the parties agree that Purchaser, in Purchaser’s reasonable discretion, will have the
right to settle or discontinue any such proceeding. Any tax saving or refund for such period,
after deduction for reasonable fees and expenses of third parties incurred in connection therewith,
shall be apportioned between Seller and Purchaser as of the Closing Date. If, after the Closing
Date, Purchaser receives any such tax savings as a credit against taxes payable in a subsequent tax
period, rather than as a refund, Purchaser promptly shall pay to Seller its pro rata share of the
tax saving. The cost of any such proceeding, including, without limitation, any contingency or
other professional fees, shall be borne in the ratio the parties are entitled to tax credits
pursuant hereto.

(d) Utilities. Apportionment of Utilities in each case shall be made based on meter
readings conducted no earlier than two (2) calendar days prior to the Closing Date, or, if readings
are unavailable, on estimates based upon actual bills issued for the immediately prior billing
period or otherwise as the parties mutually may agree, in which latter event final adjustments
shall be made after actual charges are determined but in no event later than sixty (60) days
following the Closing Date and a reasonable escrow therefor, at the option of Seller or Purchaser,
shall be established with the Escrow Agent on the Closing Date. Any Utilities billed directly to
and payable directly by a tenant under a Lease shall not be apportioned hereunder.

(e) Tenant Security Deposits. On the Closing Date, (i) the aggregate amount of all
cash security deposits held by Seller under the Leases shall be credited against the Purchase Price
therefor, and Purchaser shall assume the obligation for such security deposits pursuant to the
Assignment and Assumption (as herein defined in Section 12(a)(iii)), and (ii) any non-cash security
deposits and letters of credit held by Seller under any Leases shall be transferred, set over and
delivered to Purchaser. Seller agrees to reasonably cooperate with Purchaser after Closing in the
transfer and assignment of any letters of credit to the extent any such transfer and assignment is
not completed at Closing.

(f) Leasing Commissions. On the Closing Date, the aggregate amount of unpaid leasing
commissions, if any, payable to leasing or other agents for the then remaining term of each Lease
in effect as of the date hereof (not including any such commissions which may, in the future, be
payable with respect to unexercised termination, expansion or extension options) shall be credited
against the Purchase Price. On the Closing Date and pursuant to the Assignment and Assumption,
Purchaser shall assume all leasing commissions due and payable to leasing or other agents with
respect to (i) Leases entered into after the date hereof in accordance with the terms hereof and on
those terms approved by Purchaser, and (ii) the exercise of any right of renewal or expansion
existing under the Leases in effect as of the date hereof or entered into after the date hereof in
accordance with the terms hereof. Notwithstanding the foregoing, at or prior to Closing, Seller,
at Seller’s sole cost and expense, shall pay all leasing commissions with respect to the E*Trade
Lease (as defined in Section 11(a)(vii) below) as set forth in Exhibit 8G.

(g) Tenant Improvements and Allowances. As used in this Agreement, the term “Tenant
Costs” means all costs of all tenant construction obligations of the landlord under all Leases
whether such obligations are structured as the obligation of the landlord to deliver improved space
or to provide a tenant improvement allowance (excluding, however, any obligation by the landlord to
repair, restore or otherwise improve any tenant space not part of initial tenant improvements).

(i) With respect to Tenant Costs under Leases in effect as of the date hereof which are
monetary obligations on the Closing Date, Seller shall assign to Purchaser and Purchaser
shall assume the outstanding obligations of Seller with respect to all such monetary
obligations due and payable after the Closing Date, and the aggregate unpaid amount thereof
shall be credited against the Purchase Price, and Purchaser shall pay all such allowances
from and after the Closing Date as and when the same shall become due and payable; and

(ii) With respect to Tenant Costs under Leases executed from and after the date hereof
or renewals or extensions of existing Leases executed from and after the date hereof, on the
Closing Date, Purchaser shall reimburse Seller for all such Tenant Costs paid by Seller (and
any unpaid but earned construction management fees) as of or prior to the Closing Date,
Seller shall assign to Purchaser and Purchaser shall assume all of the obligations of Seller
under all Construction Contracts therefor as part of the Assignment and Assumption, and the
aggregate unpaid amount of all such Tenant Costs shall be paid by Purchaser from and after
the Closing Date as and when the same shall become due and payable. Notwithstanding the
foregoing, at or prior to Closing, Seller, at Seller’s sole cost and expense (and without
reimbursement from Purchaser), shall pay all Tenant Costs with respect to the E*Trade Lease
as set forth on Exhibit 8G.

(h) Existing Loan Reserves. Seller shall receive a credit for the amount of any and
all reserves held by the Norfolk Existing Lender and the Parkwood Point Existing Lender under the
Norfolk Existing Loan and the Parkwood Point Existing Loan.

(i) Final Adjustment After Closing. Prior to Closing, Seller shall complete partial
year reconciliation with respect to CAM, Taxes and Insurance charges for the year of Closing as of
April 30, 2007 (the “Preliminary CAM Reconciliation”). Subject to the post closing “true up”
provided for herein, CAM shall be prorated as of the date of Closing on a lease-by-lease basis with
each party being entitled to receive a portion of the CAM payable under each Lease for the CAM
Lease Year in which Closing occurs, which portion shall be equal to the actual CAM incurred during
the party’s respective periods of ownership of the Property during the CAM Lease Year and shall be
based upon the Preliminary CAM Reconciliation. Five (5) days prior to Closing Seller shall submit
to Purchaser an itemization of its actual CAM operating expenses through such date and the amount
of CAM received by Seller as of such date, together with an estimate of CAM to be incurred to, but
not including, the Closing, all based upon the Preliminary CAM Reconciliation. In the event that
Seller has received CAM payments in excess of its actual CAM operating expenses, Seller shall pay
to Purchaser (or provide Purchaser a credit against the Purchase Price) an amount equal to such
excess. In the event that Seller has received CAM payments less than its actual CAM, Purchaser
shall pay to Seller in an amount equal to such deficit following the final operating expense
reconciliation for CAM completed by Purchaser pursuant to the terms of this Agreement. Thereafter
following Closing, Purchaser agrees to perform the final operating expense reconciliation
adjustment for CAM for calendar year 2007 on or before March 31, 2008. Purchaser and Seller agree
to make adjustments for any CAM after reconciliations have been completed with all tenants on or
before March 31, 2008. Payments in connection with the final adjustment shall be due and payable
within thirty (30) days of written notice. As used herein, the term “CAM Lease Year” means the
twelve (12) month period as to which annual CAM are owed under each Lease. Upon receipt by either
party of any CAM true up payment from a Tenant, the party receiving the same shall provide to the
other party its allocable share of the “true up” payment within five (5) days of the receipt
thereof.

(j) Closing Costs. Seller shall pay for the following: (i) the cost of any
documentary stamps and/or transfer taxes associated with the deeds; (ii) the cost of recording any
corrective title instruments;(iii) the costs of clearing any title matter Seller elects to cure;
and (iv) one half of the charges of the Escrow Agent. Purchaser shall pay for the following: (i)
the cost of issuing the Commitment and the owner’s policy of title insurance and any endorsements;
(ii) one half of the charges of the Escrow Agent; and (iii) all other costs and expenses of
closing, including, without limitation, reimbursement to Seller of the survey costs and expenses,
all costs and expenses associated with Purchaser’s assumption of the Norfolk Existing Loan and the
Parkwood Point Existing Loan, and all costs and expenses associated with Purchaser’s financing of
the remaining Property. Each party shall pay the fees and expenses of its respective legal
counsel.

(k) Survival. The provisions of this Section 7 shall survive Closing and the delivery
of the deed of conveyance hereunder for Three Hundred Sixty-Five (365) days.

8. Representations, Warranties, and Covenants of Seller. For purposes of this Section
6, the term “Seller” means, as applicable, Joe, 280 Interstate, Southhall, Millenia, 5660, Georgia
Wind I, Georgia Wind II, Georgia Wind III, Riverside, Overlook, Deer Point, Park Point, Park Point
Land or Plume Street, the term “Property” means, as applicable, the portion of the Property owned
by a particular Seller and the term “Service Contracts” means those Service Contracts to which a
particular Seller is a party. Based upon the foregoing, Seller represents and warrants to, and
covenants with, Purchaser as follows:

(a) Seller has the right, power and authority to enter into this Agreement, and the right,
power and authority to convey the Property in accordance with the terms and conditions of this
Agreement. The execution and entry into this Agreement, the execution and delivery of the documents
and instruments to be executed and delivered by Seller on the Closing Date and the performance by
Seller of Seller’s duties and obligations under this Agreement and of all other acts necessary for
the full consummation of the purchase and sale of the Property as contemplated herein, are not in
violation of, and will not create any adverse condition under, any contract, agreement or other
instrument to which Seller is a party, or any judicial order or judgment of any nature by which
Seller is bound.

(b) Attached to this Agreement as: Exhibit 8B is a true and complete list of all
Leases in effect as of the date hereof with respect to the Beckrich One Property; Exhibit
8B-1 is a true and complete list of all Leases in effect as of the date hereof with respect to
the Beckrich Two Property; Exhibit 8B-2 is a true and complete list of all Leases in effect
as of the date hereof with respect to the Southwood One Property; Exhibit 8B-3 is a true
and complete list of all Leases in effect as of the date hereof with respect to the 280 Interstate
North Property; Exhibit 8B-4 is a true and complete list of all Leases in effect as of the
date hereof with respect to the Southhall Center Property; Exhibit 8B-5 is a true and
complete list of all Leases in effect as of the date hereof with respect to the Millenia Park
One/Legacy Point Property; Exhibit 8B-6 is a true and complete list of all Leases in effect
as of the date hereof with respect to the 5660 New Northside Drive Property; Exhibit 8B-7
is a true and complete list of all Leases in effect as of the date hereof with respect to the 100
Windward Plaza Property; Exhibit 8B-8 is a true and complete list of all Leases in effect
as of the date hereof with respect to the Windward Pointe 200 Property; Exhibit 8B-9 is a
true and complete list of all Leases in effect as of the date hereof with respect to the 300
Windward Plaza Property; Exhibit 8B-10 is a true and complete list of all Leases in effect
as of the date hereof with respect to the 245 Riverside Property; Exhibit 8B-11 is a true
and complete list of all Leases in effect as of the date hereof with respect to the Overlook I
Property and the Overlook II Property; Exhibit 8B-12 is a true and complete list of all
Leases in effect as of the date hereof with respect to the Deerfield Point I & II Property;
Exhibit 8B-13 is a true and complete list of all Leases in effect as of the date hereof
with respect to the Parkwood Point Property; Exhibit 8B-14 is a true and complete list of
all Leases in effect as of the date hereof with respect to the Norfolk Property. There are no
Leases in effect as of the date hereof with respect to the Park Point Land Property. Except as set
forth on Exhibit 8B, Exhibit 8B-1, Exhibit 8B-2, Exhibit 8B-3,
Exhibit 8B-4, Exhibit 8B-5, Exhibit 8B-6, Exhibit 8B-7,
Exhibit 8B-8, Exhibit 8B-9, Exhibit 8B-10, Exhibit 8B-11, Exhibit
8B-12, Exhibit 8B-13 and Exhibit 8B-14 to this Agreement, as of the date
hereof, (i) Seller is the owner of the lessor’s interest in all such Leases, (ii) Seller has not
modified any Lease or consented to any assignment or sublease of any Lease and, to the knowledge of
Seller, no Lease has been modified, assigned or sublet in any respect, (iii) Seller has performed
all material obligations on the part of the landlord to be performed under each such Lease, and
there are no agreements with any tenant for the performance of any work or otherwise with respect
to any matter except as set forth in such Leases, (iv) Seller heretofore has completed all tenant
improvements required under such Leases to be constructed by Seller, (v) except as set forth in
such Leases, no tenant has any option to purchase the Property, to lease additional space in the
Property, to extend the term of such tenant’s Lease, to put back to the landlord any space
currently subject to such tenant’s Lease, or to terminate such tenant’s Lease, (vi) no notice of
default has been given or received by Seller with respect to any Lease within the preceding ninety
(90) days, and no tenant otherwise is in monetary default for more than thirty (30) days or, to the
knowledge of Seller, is in material non-monetary default under its Lease, and (vii) no tenant has
paid rent for more than one (1) month in advance.

(c) After the date of this Agreement and pending Closing or the earlier termination of this
Agreement, Seller shall not, without first obtaining Purchaser’s consent, which consent shall not
be unreasonably withheld by Purchaser, (i) accept Rent (or any other amounts payable to Seller, as
landlord) more than thirty (30) days in advance of the due date thereof, (ii) extend or otherwise
modify or amend, or terminate any Lease or consent to any requested assignment or subletting of any
Lease (excluding renewal or extension, expansion or termination options, or assignment or
subleasing rights, contained within any of the Leases in existence as of the date hereof that do
not require Seller’s consent), or (iii) enter into any agreement for the lease or other occupancy
of any portion of the Property (excluding renewal, extension or expansion options, or assignment or
subleasing rights, contained within any of the Leases in existence as of the date hereof).

(d) Pending Closing or the earlier termination of this Agreement, subject to Section 8(c)
above, Seller shall not take any action which would materially impair the condition of title to the
Property.

(e) Attached to this Agreement as Exhibit 8E, Exhibit 8E-1, Exhibit
8E-2, Exhibit 8E-3, Exhibit 8E-4, Exhibit 8E-5, Exhibit 8E-6,
Exhibit 8E-7, Exhibit 8E-8, Exhibit 8E-9, Exhibit 8E-10,
Exhibit 8E-11, Exhibit 8E-12, Exhibit 8E-13, and Exhibit 8E-14 is a
true and complete list of all written Service Contracts pertaining to the Property as of the date
hereof. There are no Service Contracts in effect as of the date hereof with respect to the Park
Point Land Property. Except as set forth on Exhibit 8E, Exhibit 8E-1, Exhibit
8E-2, Exhibit 8E-3, Exhibit 8E-4, Exhibit 8E-5, Exhibit 8E-6,
Exhibit 8E-7, Exhibit 8E-8, Exhibit 8E-9, Exhibit 8E-10,
Exhibit 8E-11, Exhibit 8E-12, Exhibit 8E-13, and Exhibit 8E-14, as
applicable, all Service Contracts are in full force and effect and no party is in default
thereunder and, after the date of this Agreement, Seller shall not modify or amend, or terminate
any Service Contract other than for cause, or enter into any other agreement for comparable
services for the benefit of the Property without in each instance first obtaining the prior written
consent of Purchaser, which consent shall be granted if such agreement may be terminated upon
thirty (30) days prior notice by owner and without the imposition of a termination fee or penalty,
and otherwise shall not be unreasonably withheld, conditioned or delayed. If requested by
Purchaser in writing prior to the expiration of the Feasibility Period, Seller shall give notice of
termination of any Service Contract which by its terms may be terminated by Seller without the
imposition of a termination fee or penalty, it being agreed however, that such notice in each
instance shall be contingent upon Closing and that any Service Contract which by its terms shall
survive Closing notwithstanding prior notice of termination given by Seller shall be assumed by
Purchaser for the balance of its term and shall be subject to proration between the parties under
Section 7 hereof. On the Closing Date, Seller shall terminate any management contract for the
Property effective as of the Closing Date.

(f) As of the date hereof, there is no judicial, administrative or other adversarial suit,
action or proceeding pending or, to the knowledge of Seller, threatened against Seller or the
Property, which in any instance would bind the Property or Purchaser, or adversely affect Seller’s
ability to convey the Property to Purchaser as required by this Agreement.

(g) To the knowledge of Seller, as of the date hereof, there are no pending or contemplated
condemnation or eminent domain proceedings (or process or purchase in lieu thereof) affecting the
Property or any part thereof. If any such proceedings are commenced or notice thereof is received
by Seller prior to the Closing Date, the provisions of Section 14 of this Agreement shall govern.

(h) As of the date hereof, to Seller’s knowledge there are no, and Seller has not received
written notice of any, uncured violations of any law, ordinance, order or requirement of any
governmental or quasi-governmental authority affecting the Property.

(i) At Closing, there shall be no employees of the Property nor will there be any accrued
salary, vacation time or other benefits payable to any employee who could make a claim against the
Property or Purchaser.

(j) Seller is not a foreign person as defined in the Internal Revenue Code of 1986, as
amended, and, on the Closing Date, Seller shall execute and deliver a certification of non-foreign
status in the form reasonably required by the title or settlement agent conducting Closing.

(k) Seller has complied in all material respects with all of its obligations and has not
received any written notice of default from: (i) the Norfolk Existing Lender under the Norfolk
Existing Loan, and to Seller’s knowledge, no default or Event of Default, or event which with the
giving of notice, the passage of time or both would constitute a default or Event of Default has
occurred under the Norfolk Existing Loan, and Seller has provided Purchaser with full, complete and
correct copies of the Norfolk Existing Loan documents, which have not been amended or modified
except as contained in the documents delivered to Purchaser; and (ii) the Parkwood Point Existing
Lender under the Parkwood Point Existing Loan, and to Seller’s knowledge, no default or Event of
Default, or event which with the giving of notice, the passage of time or both would constitute a
default or Event of Default has occurred under the Parkwood Point Existing Loan. Seller has
provided Purchaser with full, complete and correct copies of the Parkwood Point Existing Loan
Documents, which have not been amended or modified except as contained in the documents delivered
to Purchaser;.

(l) Except as disclosed on Exhibit 8K, Exhibit 8K-1, Exhibit 8K-2,
Exhibit 8K-3, Exhibit 8K-4, Exhibit 8K-5, Exhibit 8K-6, Exhibit
8K-7, Exhibit 8K-8, Exhibit 8K-9, Exhibit 8K-10, Exhibit 8K-11,
Exhibit 8K-12, Exhibit 8K-13 and Exhibit 8K-14 to this Agreement and except
for paints, commercial cleaning agents and other substances ordinarily used in the repair,
maintenance or operation of the Property in compliance with all Environmental Laws, (i) Seller has
not used the Property and, to the knowledge of Seller, the Property has not been used for, the
storage, manufacture, treatment or disposal of “ Hazardous Substances,” (ii) to the knowledge of
Seller, no Hazardous Substances requiring remediation or removal are located on, in or under the
Property, and (iii) no action under any “Environmental Laws” has been taken against Seller, nor has
Seller received written notice of any violation of any Environmental Laws with respect to the
Property. The environmental reports, studies and analyses relating to the Property listed on
Exhibit 8K, through Exhibit 8K-14 are the environmental reports used by the
respective Seller, in connection with its ownership and operation of the Property. As used herein,
“Hazardous Substances” means all materials subject to regulation under the Comprehensive
Environmental Response, Compensation, and Liability Act, 42 U.S.C. §§6901 et seq.,
the Resource Conservation and Recovery Act, 42 U.S.C. §§6901 et seq., the Toxic
Substance Control Act, 15 U.S.C. §§2601 et seq., or any other applicable federal,
state or local law or regulation now in force or hereafter enacted relating to materials having
adverse effects on human health or the environment, and includes, but is not limited to, asbestos,
polychlorinated biphenyls (PCBs), petroleum products and lead-based paints. All such laws relating
to hazardous waste disposal and toxic substances are collectively referred to herein as
“Environmental Laws.”

(m) EXCEPT FOR THE REPRESENTATIONS AND WARRANTIES CONTAINED IN THIS SECTION 8, IT IS
UNDERSTOOD AND AGREED THAT SELLER DISCLAIMS ALL WARRANTIES OR REPRESENTATIONS OF ANY KIND OR
CHARACTER, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, INCLUDING, BUT NOT LIMITED TO,
WARRANTIES OR REPRESENTATIONS AS TO MATTERS OF TITLE (OTHER THAN SELLER’S WARRANTY OF TITLE SET
FORTH IN THE SPECIAL WARRANTY DEED TO BE DELIVERED AT CLOSING), ZONING, TAX CONSEQUENCES, PHYSICAL
OR ENVIRONMENTAL CONDITIONS, AVAILABILITY OR ACCESS, INGRESS OR EGRESS, PROPERTY VALUE, OPERATING
HISTORY, GOVERNMENTAL APPROVALS, GOVERNMENTAL REGULATIONS OR ANY OTHER MATTER OR THING RELATING TO
OR AFFECTING THE PROPERTY. EXCEPT FOR THE REPRESENTATIONS AND WARRANTIES CONTAINED IN THIS SECTION
8, PURCHASER AGREES THAT WITH RESPECT TO THE PROPERTY, PURCHASER HAS NOT RELIED UPON AND WILL NOT
RELY UPON, EITHER DIRECTLY OR INDIRECTLY, ANY REPRESENTATION OR WARRANTY OF SELLER OR SELLER’S
AGENTS OR EMPLOYEES. PURCHASER REPRESENTS THAT IT IS A KNOWLEDGEABLE, SOPHISTICATED AND EXPERIENCED
PURCHASER OF REAL ESTATE SIMILAR TO THE PROPERTY AND THAT IT IS RELYING SOLELY ON ITS OWN EXPERTISE
AND THAT OF PURCHASER’S CONSULTANTS, AND THAT PURCHASER WILL CONDUCT SUCH INSPECTIONS AND
INVESTIGATIONS OF THE PROPERTY, INCLUDING, BUT NOT LIMITED TO, THE PHYSICAL AND ENVIRONMENTAL
CONDITIONS THEREOF, AND SHALL RELY UPON SAME, AND, UPON CLOSING, ASSUME THE RISK THAT ADVERSE
MATTERS, INCLUDING, BUT NOT LIMITED TO, ADVERSE PHYSICAL AND ENVIRONMENTAL CONDITIONS, MAY NOT HAVE
BEEN REVEALED BY PURCHASER’S INSPECTIONS AND INVESTIGATIONS. EXCEPT FOR THE REPRESENTATIONS AND
WARRANTIES CONTAINED IN THIS SECTION 8, PURCHASER ACKNOWLEDGES AND AGREES THAT UPON CLOSING, SELLER
SHALL SELL AND CONVEY TO PURCHASER AND PURCHASER SHALL ACCEPT THE PROPERTY “AS IS, WHERE IS,” WITH
ALL FAULTS, AND THERE ARE NO ORAL AGREEMENTS, WARRANTIES OR REPRESENTATIONS COLLATERAL TO OR
AFFECTING THE PROPERTY BY SELLER OR ANY THIRD PARTY. THE TERMS AND CONDITIONS OF THIS SECTION
SHALL EXPRESSLY SURVIVE CLOSING AND NOT MERGE THEREIN.

(n) Without limiting Section 8(m) above, Purchaser acknowledges that, except as may otherwise
be specifically set forth elsewhere in this Agreement, neither Seller nor its consultants, brokers
or agents have made any representations or warranties of any kind upon which Purchaser is relying
as to any matters concerning the Property or the Personal Property, including, but not limited to,
the condition of the land or any improvements comprising the Property, the existence or
non-existence of Hazardous Substances, economic projections or market studies concerning the
Property, any development rights, taxes, bonds, covenants, conditions and restrictions affecting
the Property, water or water rights, topography, drainage, soil, subsoil of the Property, the
utilities serving the Property or any zoning or building laws, rules or regulations or
Environmental Laws affecting the Property. Seller makes no representation or warranty that the
Property complies with Title III of the Americans with Disabilities Act or any fire code or
building code. Except in the case of a breach of a representation or warranty in this Section 8
(or other breach of this Agreement by Seller), Purchaser, any affiliate or parent of Purchaser, all
shareholders, employees, officers and directors of Purchaser or Purchaser’s affiliate or parent,
and their respective successors and assigns (“Purchaser Group”) hereby covenant not to sue Seller,
its members, managers, or any affiliates of Seller or Seller’s members or managers for, and shall
not enforce any liability or obligation of Seller, its members or managers or affiliates of Seller
or Seller’s members or managers for, and hereby agree not to bring, assert or maintain any action
or claim for contribution, cost recovery or otherwise, including for injunctive relief, relating
directly or indirectly to the violation of Environmental Laws regarding the existence of asbestos
or Hazardous Substances on, or environmental conditions of, the Property, whether known or unknown,
by any action or proceeding wherein a money or other personal judgment, including injunctive
relief, is sought by Purchaser Group against Seller, its members or managers or affiliates of
Seller or Seller’s members or managers; provided, however, that Purchaser Group and their
successors or assigns may bring any action or proceeding to enforce and realize rights and claims
under such Environmental Laws for contribution, cost recovery or otherwise against third parties,
including but not limited to Sellers’ predecessors’ in title to the Property and name Seller and
Seller’s affiliates in such action or proceeding to the extent they, or any of them, are necessary
parties to such action or proceeding; further provided, however, that any judgment in any such
action or proceeding in favor of Purchaser Group or their successors or assigns shall not be
enforced by Purchaser Group or any such successor or assign against Seller, its general partners or
Seller’s affiliates or Seller’s members or managers.

(o) Seller has provided to Purchaser certain unaudited historical financial information
regarding the Property relating to certain periods of time in which Seller owned the Property.
Seller and Purchaser hereby acknowledge that such information has been provided to Purchaser at
Purchaser’s request solely as illustrative material. Seller represents only that such information
is the same information provided to Seller by the property manager and prepared by the property
manager and makes no representation or warranty that such material is accurate or that Purchaser
will achieve similar financial or other results with respect to the operations of the Property, it
being acknowledged by Purchaser that Seller’s operation of the Property and allocations of revenues
or expenses may be vastly different than Purchaser may be able to attain. Purchaser acknowledges
that it is a sophisticated and experienced Purchaser of real estate and further that Purchaser has
relied upon its own investigation and inquiry with respect to the operation of the Property and
releases and covenants not to sue Seller and the affiliates of Seller from any liability with
respect to such historical information, unless there has been fraud by Seller in the preparation of
the historical information.

(p) To the extent that Seller may provide to Purchaser existing or other reports of third
parties regarding the condition of the Property, Seller makes no representation or warranty
concerning the accuracy or completeness of any such reports, studies or investigations regarding
the Property which was prepared by anyone other than Seller itself, including but not limited to
the Due Diligence Items (the “Existing Third Party Reports”), Purchaser hereby releases and
covenants not to sue Seller, its general partners or affiliates of Seller or Seller’s general
partners from and with respect to any liability whatsoever with respect to the Existing Third Party
Reports, or, including, without limitation, the matters set forth in the Existing Third Party
Reports, and the accuracy and/or completeness of the Existing Third Party Reports. Furthermore,
Purchaser acknowledges that it will be purchasing the Property with all faults disclosed in the
Existing Third Party Reports.

(q) Except for representations or warranties that are made by their terms as of a specified
date, which shall be true and correct in all material respects as of the date so specified, each of
the foregoing representations and warranties of Seller shall be true and correct in all material
respects as of the date of this Agreement and as of the Closing Date, and Seller shall provide
written notice to Purchaser of any facts or circumstances which would materially alter or make any
such representation or warranty untrue or incorrect in any material respect.

In connection with the foregoing provisions of this Section 8 and notwithstanding any
provision of this Agreement, express or implied, to the contrary, Seller and Purchaser agree as
follows:

(i) Any representation or warranty made to the knowledge of Seller is made to the
actual knowledge of Mike Daly, Vice President — Asset Management, Chris Eyrick, Manager –
Real Estate Investments, Teresa Terhune, Manager — Asset Management or Shari Chaney, Manager
– Asset Management (collectively, The “Seller Knowledge Parties”) without independent
investigation, and in connection with their respective roles in connection with the
ownership of the Property;

(ii) no representation or warranty of Seller shall be deemed to have been breached if
or to the extent any breach thereof hereafter arising is caused by any tenant or occupant of
the Property or any other act or occurrence beyond the reasonable control of Seller or by
any act or omission by Purchaser or any agent, employee, independent contractor or invitee
of Purchaser;

(iii) if prior to or contemporaneously with the tender of performance hereunder on the
Closing Date, Purchaser shall obtain knowledge of any act or omission, or fact or
circumstance, which individually or collectively renders any representation or warranty
under this Section 8 untrue or incorrect in any material respect and Purchaser for any
reason shall fail to give to Seller written notice thereof prior to the time of completed
tender of performance on hereunder on the Closing Date, then and in each such event such
representation or warranty shall be deemed waived by Purchaser to the extent of such act or
omission or fact or circumstance unless otherwise agreed to in writing by Seller and
Purchaser, it being agreed for the purposes of this Section 8(p)(iii) that the knowledge of
Purchaser shall be deemed to include all information and disclosure contained in this
Agreement, in all Feasibility Studies, all Seller Disclosures, any other information
provided to Purchaser by or on behalf of Seller or its managing agent hereunder, all Title
Documents, and any and all other due diligence review and investigation conducted by or on
behalf of Purchaser by its legal representatives;

(iv) each of the representations and warranties of Seller shall survive Closing,
provided, however, that if any claim for breach of any of such representations or warranties
is not made within six (6) months from and after the Closing Sate by the filing of a
judicial action or suit or by notice of claim, then such representation and warranty and
claim thereupon automatically shall expire; and

(v) Seller shall not be obligated to pay any amounts with respect to breaches of
representations and warranties until the aggregate obligation of Seller with respect to such
breaches exceeds FIFTY THOUSAND AND 00/100 Dollars ($50,000.00), whereupon Seller shall be
liable for all such amounts which exceed FIFTY THOUSAND AND 00/100 DOLLARS ($50,000.00). In
no event shall the aggregate liability of Seller to Purchaser with respect to breaches of
representations and warranties exceed ONE MILLION FIVE HUNDRED THOUSAND AND 00/100 DOLLARS
($1,500,000.00).

9. Representations and Warranties of Purchaser. Purchaser represents and warrants to,
and covenants with, Seller as follows:

(a) Purchaser is a limited liability company duly formed and validly existing under the laws
of the State of Florida, has full power and authority to execute and deliver this Agreement and to
perform the obligations of Purchaser hereunder, and the person(s) executing this Agreement on
behalf of Purchaser have been authorized to execute and deliver this Agreement on behalf of
Purchaser. The execution and delivery by Purchaser of, and the performance and compliance by
Purchaser with, the terms and provisions of this Agreement do not violate any term, condition or
provision of (i) Purchaser’s organizational or governing documents, (ii) any judgment, order,
injunction, decree, regulation or ruling, of any court or other governmental authority to which
Purchaser is subject, or (iii) any agreement or contract to which Purchaser is a party or is bound.
No consent, waiver or approval by any third party which heretofore has not been obtained is
required in connection with the execution and delivery by Purchaser of this Agreement or the
performance by Purchaser of the obligations to be performed under this Agreement by Purchaser.

(b) The representations and warranties of Purchaser shall be true and correct as of the date
of this Agreement and as of the Closing Date and shall survive Closing.

10. Additional Covenants of the Parties.

(a) Covenants of Seller. Pending the Closing Date, Seller shall:

(i) Use commercially reasonable efforts to obtain and, no later than five (5) business
days prior to the Closing Date, to deliver to Purchaser executed estoppel certificates from
Tenants representing not less than seventy percent (70%) of gross leased area of the
Buildings, which percentage must include all Major Tenants (as hereinafter defined) and be
dated not earlier than the date of this Agreement and substantially in the form of
Exhibit D1 hereto (the “Tenant Estoppels”). For purposes of this Agreement, the term
Major Tenants shall mean those Tenants leasing more than 10,000 square feet in the
aggregate. Seller shall promptly deliver to Purchaser all Tenant Estoppels that Seller
receives. In determining whether this requirement has been satisfied, Purchaser may object
to any Tenant Estoppel which does not substantially conform to Exhibit D1 or that
otherwise discloses any materially adverse matters, which all adverse matters must be
rectified to Purchaser’s reasonable satisfaction. Purchaser shall notify Seller within five
(5) business days of its receipt of any Tenant Estoppel of its approval or disapproval (and
if disapproved, the basis for such disapproval). If Purchaser fails to provide such notice
to Seller within said time period, Purchaser shall be deemed to have approved any such
Tenant Estoppel. Notwithstanding anything to the contrary contained herein, the deletion by
any Tenant of the language contained in Paragraphs 14 and/or 15 as shown on Exhibit
D1 shall not constitute a material, adverse matter, nor shall any such deletion be the
basis of disapproval by Purchaser of any Tenant Estoppel; provided, however, that if any
Tenant returns a Tenant Estoppel without such language (or materially, adversely modifies
such language), Seller shall submit a subordination, non-disturbance and attornment
agreement, in form reasonably acceptable to Purchaser (a “SNDA”), to such Tenant and further
provided that the receipt of a SNDA executed on behalf of such Tenant shall not be a
condition to or delay Closing. Seller agrees to use commercially reasonable efforts to
obtain any SNDA as contemplated in this Section 10(a)(i);

(ii) continue to cause the Property to be operated in its customary manner and in
compliance with applicable laws;

(iii) perform all material obligations on the part of the landlord to be performed
under all Leases for the Property;

(iv) maintain in effect currently maintained physical damage, liability and other
insurance coverage with respect to the Property; and

(v) Riverside shall, prior to Closing, remediate and monitor the moisture relating to
the men’s and women’s restrooms located on the first, second and third floors of the 245
Riverside Building in accordance with the recommendations of Skyetech set forth in that
certain report prepared by Skyetech for the benefit of Riverside’s property manager dated
February 7, 2007;

(vi) Seller shall use commercially reasonable efforts to assist Purchaser in obtaining
any third party estoppels and consents from parties other than tenants under the Leases, as
Purchaser deems reasonably necessary in connection with its investigation of the Property;
provided, however, in no event shall any such third party estoppels and consents be
considered a condition precedent to Purchaser’s obligation to perform pursuant to the terms
of this Agreement; and

(vii) Seller shall use commercially reasonable efforts to obtain a waiver or release of
that certain Memorandum of Option and Right of First Offer dated December 23, 2004, by and
between BSD II, LLC, a Georgia limited liability company (“BSD”) and Park Point Land (the
“Park Point Option”) from BSD with respect to the Park Point Land Property; provided,
however, in the event that Seller is unable to obtain the waiver or release of the Park
Point Option, the Park Point Land Property will be removed from the Property to be conveyed
to Purchaser at Closing and Purchaser shall receive a credit against the Purchase Price in
the amount allocated to the Park Point Land Property in Section 4(a) hereof.

(b) Covenants of Purchaser.

(i) Prior to and as a condition of any entry of Purchaser onto the Property for the
purpose of conducting any Feasibility Study, Purchaser shall obtain and deliver to Seller
substantiation of comprehensive liability and property damage insurance coverage in an
amount no less than TWO MILLION AND 00/100 DOLLARS ($2,000,000.00) public liability and TWO
HUNDRED THOUSAND AND 00/100 DOLLARS ($200,000.00) property damage, with a contractual
liability endorsement for Purchaser’s indemnity obligations under this Section 10(b), and
naming each Seller as an additional insured. Purchaser agrees to indemnify, hold harmless
and defend Seller from and against any and all claims, damages or liabilities (including
reasonable attorneys’ fees, court costs and expert witness and other third party consultant
costs and expenses) for any injury or damage to persons or property caused by or in
connection with the conduct of the Feasibility Studies by or on behalf of Purchaser or the
entry of Purchaser (or any agent or representative of Purchaser) unto the Property prior to
the Closing Date.

(ii) Purchaser shall restore to its prior condition any portion(s) of the Property
damaged by or on behalf of Purchaser, including, without limitation, damage occasioned by
the conduct of any Feasibility Study, which restoration shall be completed within thirty
(30) days of written demand therefor by Seller.

(iii) Promptly upon any termination of this Agreement, Purchaser shall deliver to
Seller all Seller Disclosures and all copies thereof in the possession or control of
Purchaser or any of its agents, representatives, consultants or professionals.

(iv) Purchaser shall use commercially reasonable means to obtain the written consent of
the Norfolk Existing Lender and the Parkwood Point Existing Lender to Purchaser’s assumption
of the Norfolk Existing Loan and the Parkwood Point Existing Loan. Purchaser shall provide
Norfolk Existing Lender and Parkwood Point Existing Lender any and all information as such
lenders may reasonably request in connection with each such lender’s approval of the
Purchaser and the Purchaser’s assumption of the Norfolk Existing Loan and the Parkwood Point
Existing Loan.

(v) This Section 10(b) shall survive the termination of this Agreement and Closing and
the delivery of the deed of conveyance hereunder.

11. Conditions Precedent to the Obligations of the Parties.

(a) Purchaser’s Conditions. The obligation of Purchaser to perform hereunder and to
acquire the Property on the Closing Date shall be subject to the following express conditions (each
of which conditions may be waived in writing by Purchaser, in the sole discretion of Purchaser):

(i) On the Closing Date, title to the Property shall be as provided for in Section 5
hereof;

(ii) on the Closing Date, the representations and warranties of Seller as set forth in
this Agreement shall be true and correct in all material respects in accordance with their
respective terms and Seller shall have performed all of its covenants and obligations
hereunder in all material respects;

(iii) on or before five (5) business days prior to the Closing Date, Seller shall have
obtained and delivered the Tenant Estoppels from Tenants under the Leases in accordance with
and as required under Section 10(a)(i) hereof (the “Estoppel Threshold”), failing which,
Purchaser shall be entitled to either (A) terminate this Agreement and the Deposit shall be
promptly returned to Purchaser and neither Seller nor Purchaser shall have any further
obligations to each other under this Agreement (except for those obligations that expressly
survive termination of this Agreement), or (B) permit Seller to meet the Estoppel Threshold
by delivering a Seller Estoppel (as defined in Section 12(a)(vii)) on or before five (5)
business days prior to the Closing Date, or (C) waive such condition and proceed to Closing;

(iv) on the Closing Date, no judicial, administrative or other adversarial suit, action
or proceeding shall be pending against Seller or the Property and which in any instance
adversely and materially would bind the Property or Purchaser, or adversely and materially
affect Seller’s ability to convey the Property to Purchaser as required by this Agreement;

(v) on the Closing Date, Seller shall tender performance as provided for in this
Agreement;

(vi) subject to the terms of Section 4 hereof, Purchaser shall have obtained the
written approval of the Norfolk Existing Lender and Parkwood Point Existing Lender of
Purchaser’s assumption of the Norfolk Existing Loan and the Parkwood Point Existing Loan,
respectively;

(vii) Georgia Wind I and E*Trade Group, Inc. shall have consummated a lease amendment
for space at the 100 Windward Building on substantially the same terms as evidenced by the
Letter of Intent by and between Georgia Wind I, LLC and E*Trade Group, Inc., dated April 2,
2007 attached hereto as Exhibit 11(a)(viii) (the “E*Trade Lease”). The form of the
E*Trade Lease shall be in a form reasonably agreed upon by Seller and Purchaser. In the
event the E*Trade Lease is not consummated prior to Closing, Seller shall provide Purchaser
with a credit against the Purchase Price in the amount of Two Million Five Hundred Twenty
Thousand Six Hundred Twenty-Nine and 00/100 Dollars ($2,520,629.00);

(viii) Riverside and Advantis Real Estate Services Company, Lewis, Longman, & Walker,
P.A., Pappas Metcalf Jenks & Miller, P.A., Broad Street Partners, L.L.C., and American
Association of Clinical Endocrinologists, Inc. shall have executed lease amendments with
respect to their respective leases terminating any rights such tenants may have under their
leases to utilize offsite parking facilities; provided, however in the event Riverside is
unable to execute lease amendments with respect to such leases prior to Closing, Seller
shall execute, at Closing, an agreement to provide Purchaser, at no cost to Purchaser, with
the offsite parking for such tenants on such terms and conditions as required under their
respective leases until the expiration of the term of such leases (including any renewal
term provided under the terms and conditions of such leases as of the date hereof);

(ix) Georgia Wind II and Arseal Technologies, LLC, a Georgia limited liability company
shall have consummated an office lease for space at the 200 Windward Pointe 200 Building on
substantially the same terms as incorporated into the draft lease attached hereto as
Exhibit 11(a)(ix) (the Arseal Lease”);

(x) Deer Point and Cygnus Business Media, Inc., a Delaware corporation shall have
consummated an office lease for space at the Deer Point II Building on substantially the
same terms as incorporated into the draft lease attached hereto as Exhibit 11(a)(x)
(the “Cygnus Lease”)

(b) Seller’s Conditions. The obligation of Seller to perform hereunder and to sell
the Property on the Closing Date shall be subject to the following express conditions (each of
which conditions may be waived in writing by Seller, in the sole discretion of Seller):

(i) on the Closing Date, the representations and warranties of Purchaser set forth in
this Agreement shall be true and correct in all material respects in accordance with their
respective terms and Purchaser shall have performed all of its covenants and obligations
hereunder in all material respects; and

(ii) on the Closing Date, Purchaser shall tender performance as provided for in this
Agreement.

12. Delivery of Funds and Documents at Closing.

(a) On the Closing Date and without limitation of Section 6(b) of this Agreement, Seller shall
deliver to or for the benefit of Purchaser the following:

(i) Special or limited warranty deeds in the form attached hereto as Exhibit F,
Exhibit F-1 and Exhibit F-2, as applicable to the Property and
Improvements, in proper form for recording and duly executed and acknowledged by Seller (and
quitclaim deeds with legal descriptions of the Property based on the Survey, if requested by
Purchaser);

(ii) a quitclaim bill of sale (which shall not, for the avoidance of doubt, warrant
title, fitness for a particular purpose or condition or quality or provide any other
warranty) to all Tangible Personal Property, and physical possession of all security codes,
keys and any other forms of access;

(iii) a general assignment and assumption (the “Assignment and Assumption”),
substantially in the form of Exhibit E to this Agreement, of all Leases, Service
Contracts, Governmental Approvals, Plans and Specifications and Construction Contracts to be
assigned to Purchaser, together with originals (or, if not available, true copies) thereof;

(iv) actual possession of all non-cash Lease security and other deposits and/or escrows
thereunder;

(v) a current rent roll certified to be true and accurate in all material respects, and
copies of such maintenance and/or repair records of the Property which are reasonably
available to Seller and which Seller has the right to deliver, and which shall be deemed
delivered if left at the Property management office;

(vi) notices to Tenants advising them of the sale of the Property to Purchaser and to
whom future rent payments are to be forwarded, which notice shall be subject to the
reasonable approval of Purchaser;

(vii) the original Tenant Estoppels; provided, however, that in the event that Seller
is not able to obtain Tenant Estoppels in the amount of the Estoppel Threshold as required
in this Agreement and Purchaser agrees, Seller may satisfy its obligation to deliver the
Tenant Estoppels by delivering a seller estoppel certificate (a “Seller Estoppel”) in order
to satisfy the Estoppel Threshold in accordance with and subject to Section 11(a)(iii)
hereof, provided, however, that Seller shall not be permitted to deliver a Seller Estoppel
for (A) more than fifteen percent (15%) of the total rentable square footage for any
Property or (B) any Major Tenant. Such Seller Estoppel shall be in acceptable form if
delivered substantially in the form of Exhibit D-2 attached hereto and such Seller
Estoppel shall be deemed to be a representation and warranty of Seller and shall be subject
to the provisions of Section 8(p) until such time as Seller delivers the Tenant Estoppel to
Purchaser in replacement thereof. Seller’s liability under such Seller Estoppel shall cease
and terminate upon the receipt by Purchaser of a duly executed Tenant Estoppel from the
applicable Tenant;

(viii) all documents and funds required to be delivered by Seller under Section 5 of
this Agreement;

(ix) lease agreements executed by Joe with respect to the 245 Riverside Property, the
Beckrich One Property and the Southwood One Property on the terms set forth in Exhibit
G, Exhibit G-1, and Exhibit G-2, respectively, attached hereto and in
the form set forth in Exhibit H attached hereto, as such form may be amended as
reasonably agreed upon by Seller and Purchaser or as otherwise modified to reflect
conditions applicable only to a particular Property ( collectively, the “St. Joe Leases”).

(x) resolutions of each Seller authorizing the transactions contemplated under this
Agreement, and, to the Title Company, such other documents evidencing and substantiating the
capacity and authority of Seller as reasonably may be requested by the Title Company;

(xi) a certification by each Seller that the applicable representations and warranties
of such Seller deemed to be made as of the Closing Date are true and correct in all material
respects as of the Closing Date; and

(xii) a certification by each Seller of non-foreign status under Sections 1445 and 7701
of the Internal Revenue Code.

(b) On the Closing Date and without limitation of Section 6(b) of this Agreement, Purchaser
shall deliver to or for the benefit of Seller:

(i) the Purchase Price (adjusted as provided for in this Agreement);

(ii) the Assignment and Assumptions;

(iii) the St. Joe Leases;

(iv) a certification by Purchaser that the representations and warranties of Purchaser
deemed to be made as of the Closing Date are true and correct in all material respects as of
the Closing Date; and

(v) such resolutions, consents and/or other documents evidencing and substantiating the
capacity and authority of Purchaser which reasonably may be requested by the Title Company.

13. Brokerage. Seller and Purchaser each represents to the other that no broker or
finder acted in connection with this Agreement or the sale of the Property hereunder other than
Eastdil Secured, LLC, who has acted as Seller’s agent (“Broker”). Subject to consummation of
Closing, Seller shall pay a commission to Broker pursuant to a separate written agreement, and
shall indemnify and hold Purchaser harmless from and against any claims asserted by Broker against
Purchaser with respect to such commission. Seller and Purchaser agree to indemnify, defend and
hold the other harmless from and against claims for commission or finder’s fee made by or payment
due to any other broker, agent or finder with whom such party may have dealt in connection with
this Agreement or the sale of the Property hereunder. The provisions of this Section 13 shall
survive the termination of this Agreement, and Closing and the delivery of the deed of conveyance
hereunder. The provisions of this Section 13 are solely for the benefit of the parties hereto and
no broker or other party shall be entitled to any benefit by virtue hereof as a third-party
beneficiary or under any other theory.

14. Casualty or Condemnation.

(a) If all or a material part (as herein defined in Section 14(c) below) of the Property or
Improvements are damaged or destroyed by fire or other casualty, or are taken by power of
condemnation or eminent domain, or process or purchase in lieu thereof, prior to the Closing Date,
Seller shall deliver prompt notice thereof to Purchaser and this Agreement shall terminate, in
which event the Deposit shall be released to Purchaser and neither party shall have any further
rights against or obligations to the other hereunder except as expressly provided in this
Agreement, provided, that Purchaser may elect, by notice given to Seller within ten (10)
days of the date notice of the occurrence of such casualty or taking shall have been given to
Purchaser by Seller (provided, however, that the scheduled Closing Date may be extended in order to
provide to Purchaser a complete ten (10) day period within which to make such election), to close
hereunder without abatement or reduction of the Purchase Price (except to the extent of the
deductible under Seller’s insurance coverage in the case of casualty) and Purchaser shall have the
right to appear in, defend and participate with Seller to negotiate, settle and/or compromise any
such insurance claim or condemnation proceedings or negotiations, and, on the Closing Date, Seller
shall assign to Purchaser all right and entitlement of Seller in and to all insurance proceeds or
condemnation proceeds or awards payable with respect to such casualty or taking.

(b) If an immaterial part of the Property and Improvements are damaged by fire or other
casualty, or are taken by power of condemnation or eminent domain, or process or purchase in lieu
thereof, prior to the Closing Date, Seller shall deliver prompt notice thereof to Purchaser and
this Agreement shall remain in full force and effect and Purchaser shall be obligated to close
hereunder without any abatement or reduction of the Purchase Price (except to the extent of the
deductible under Seller’s insurance coverage in the case of casualty), provided, that, on
the Closing Date, Seller shall assign to Purchaser all right and entitlement of Seller in and to
all insurance proceeds or condemnation proceeds payable with respect to such casualty or taking.

(c) For the purposes of this Section, “material” means damage or destruction to any one or
more of the Properties (or any part thereof) which reasonably is estimated to cost more than ONE
MILLION AND 00/100 DOLLARS ($1,000,000.00) in the to repair or take longer than one hundred eighty
(180) days to repair, or, at the option of Purchaser, any taking which includes any portion of any
Building, or denies reasonable access to or loss of parking on the Property, such that following
such taking the number of parking spaces on the Property does not comply with applicable law, or
results in the Property violating any laws or failing to comply with zoning or any covenants,
conditions, or restrictions affecting the Property which affect the owner’s right to operate the
Property and cannot be cured, or entitles any (i) Major Tenants or (ii) tenants which in the
aggregate comprise five percent (5%) or more of the gross leaseable area of any building, under any
Leases to terminate their Lease.

15. Remedies.

(a) Purchaser Default. If Purchaser shall default in its performance obligations under
this Agreement prior to or on the Closing Date or the representations and warranties of Purchaser
set forth in this Agreement shall not be true and correct in any material respect as and when made
in accordance with their respective terms, and, with respect to any default other than a default by
Purchaser to tender performance on the Closing Date, such default shall continue for more than ten
(10) days following written notice thereof given by Seller to Purchaser or, if sooner, the Closing
Date, then and in such event Seller shall have the right, as Seller’s sole and exclusive remedy and
in lieu of any and all rights and remedies of Seller at law or in equity, to terminate this
Agreement upon written notice given to Purchaser, in which event the Deposit promptly shall be
released to Seller as liquidated damages and not as a penalty and neither party shall have further
rights or obligations to the other hereunder except as expressly provided in this Agreement.
Additionally, except, with respect to a Purchaser default under Section 10(b)(i)-(iii) or 13
hereof, Seller shall have all rights and remedies available to Seller at law or in equity.

(b) Seller Default. If Seller shall default in its performance obligations under this
Agreement prior to or on the Closing Date or the representations and warranties of Seller set forth
in this Agreement shall not be true and correct in any material respect as and when made in
accordance with their respective terms, and, with respect to any default other than a default by
Seller to tender performance on the Closing Date, such default shall continue for more than ten
(10) days following written notice thereof given by Purchaser to Seller or, if sooner, the Closing
Date, then and in such event Purchaser shall be entitled either (i) to terminate this Agreement
upon written notice given to Seller, in which event the Deposit promptly shall be released to
Purchaser and neither party shall have further rights or obligations to the other hereunder except
as expressly provided in this Agreement, or (ii) to seek specific performance of, but not damages
from, Seller; provided, however, that if specific performance is not a remedy available to
Purchaser solely as a result of a prior sale of the Property (or part thereof) by Seller to a third
party, then, in such event (and provided that Purchaser is not in default under the terms of this
Agreement), Purchaser shall also be entitled to pursue an action for compensatory damages against
Seller; provided, however, such compensatory damages shall in no event exceed Ten Million and
No/100 Dollars ($10,000,000.00). Notwithstanding the foregoing, if Purchaser for any reason shall
not file an action for specific performance in any court asserting jurisdiction over the Property
and Seller within sixty (60) days from the date scheduled for Closing, then Purchaser conclusively
shall be deemed to have waived its right of specific performance hereunder.

(c) Costs. In any judicial suit or action or other adversarial action between Seller
and Purchaser arising out of this Agreement, the prevailing party therein shall be entitled to
recover its reasonable attorneys’ fees, court costs and expert witness and other third party
consultant costs and expenses.

16. Notices. Except as permitted in Section 2(a) hereof, all notices and other
communications under this Agreement shall be in writing and shall be sent by either confirmed
facsimile, recognized overnight courier or personal delivery, in all cases addressed to the parties
as and at the addresses indicated after their signature to this Agreement, with copies to the other
parties there noted, or at such other address, and to the attention of such person, of which Seller
or Purchaser shall have given notice as herein provided. Notices shall be deemed given on the date
delivered or attempted in good faith to be delivered to the primary addressee during normal working
hours on business days. Any notice given by counsel to a party shall have the same effect as if
given by such party.

17. Miscellaneous Provisions.

(a) All exhibits attached to this Agreement hereby are incorporated by reference into this
Agreement. This Agreement (together with such exhibits) constitutes the entire understanding
between the parties with respect to the sale and purchase of the Property, and all prior
agreements, understandings, representations and statements, whether oral or written, are merged
herein. Unless expressly otherwise stated herein, no provision of this Agreement may be waived
except by instrument signed by the party against whom enforcement is sought. This Agreement may
not be modified or amended except by instrument signed by all parties hereto.

(b) This Agreement is intended to be performed in and shall be governed by and construed in
accordance with the laws of the State in which the particular property is located, without regard
to conflicts of laws principles.

(c) The captions in this Agreement are inserted for convenience only, and in no way define,
describe or limit the scope or intent of this Agreement or any of the provisions hereof. Seller
and Purchaser each acknowledges that it has been represented by legal counsel in the negotiation
and delivery of this Agreement, and accordingly agree that this Agreement shall be interpreted and
construed in accordance with its plain meaning and without reliance upon, or implication, inference
or assumption arising from, the fact that this Agreement may have been drafted, in whole or in
part, for or on behalf of any party hereto.

(d) This Agreement and the terms hereof shall bind and inure to the parties hereto and their
respective successors and permitted assigns. Notwithstanding the foregoing, Purchaser may not
assign its rights or obligations under this Agreement except with the prior written consent of
Seller, which consent may be granted or withheld by Seller in its sole discretion, but shall not be
unreasonably delayed. No assignment of this Agreement by Purchaser shall release Purchaser from
its obligations under this Agreement. Any assignment made in violation of this Section shall be
voidable at the option of Seller. Notwithstanding the foregoing, Purchaser may assign its rights
under this Agreement to any entity that controls, is controlled by, or is under common control with
Purchaser, provided, however, that Purchaser shall have no such right unless a written assignment
is delivered to Seller no later than five (5) business days before Closing; and further provided
that no such assignment shall relieve Purchaser of its obligations hereunder.

(e) Neither this Agreement nor any memorandum hereof may be recorded among any public records.

(f) Time is of the essence of this Agreement.

(g) Except as otherwise expressly provided for in this Agreement, this Agreement and the terms
hereof shall not survive Closing but shall merge into the delivery of deed of conveyance hereunder.

(h) This Agreement may be executed simultaneously in one or more counterparts, each of which
shall be deemed to be an original, and all of which together shall constitute one and the same
instrument.

(i) Notwithstanding any provision of this Agreement to the contrary (other than Section 7(d)),
wherever in this Agreement (i) any provision governs the date of commencement or expiration of any
time period, or the date of occurrence of any act or event, if any such date otherwise would fall
on a Saturday or Sunday or day on which national banks doing business in the State of Florida are
closed for business, then and in such event, such date shall be deemed for all purposes of this
Agreement to commence or expire, or occur, as the case may be, on the next succeeding day on which
national banks doing business in the State of Florida are open for business.

(j) Purchaser shall keep the Purchase Price and the other economic terms of this Agreement,
and all Feasibility Studies, Seller Disclosures and any and all other information received by
Purchaser from or on behalf of Seller, confidential, provided, that, Purchaser may disclose the
same, in each instance on an “as-needed” basis, (i) to Purchaser’s attorneys, accountants,
consultants, partners and co-venturers, lenders and principals (each of whom shall be instructed to
keep such information confidential), (ii) in connection with any judicial suit or action or other
adversarial proceedings between the parties hereto or otherwise, and (iii) if and to the extent the
foregoing become or are public information. This Section 17(j) shall survive any termination of
this Agreement for a period of two (2) years measured from the effective date of such termination,
but shall merge into the deed of conveyance hereunder and shall not survive Closing.

(k) EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, IT IS UNDERSTOOD AND AGREED THAT SELLER
IS NOT MAKING ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND OR CHARACTER, EXPRESSED OR IMPLIED,
WITH RESPECT TO THE PROPERTY, INCLUDING, BUT NOT LIMITED TO, ANY REPRESENTATIONS OR WARRANTIES AS
TO HABITABILITY, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE (OTHER THAN SELLER’S
SPECIAL WARRANTY OF TITLE TO BE SET FORTH IN THE DEED), ZONING, TAX CONSEQUENCES, LATENT OR PATENT
PHYSICAL OR ENVIRONMENTAL DEFECTS OR CONDITIONS, VALUATION, THE COMPLIANCE OF THE PROPERTY WITH
GOVERNMENTAL LAWS, OR THE TRUTH, ACCURACY OR COMPLETENESS OF ANY THIRD PARTY INFORMATION PROVIDED
BY OR ON BEHALF OF SELLER TO PURCHASER. PURCHASER ACKNOWLEDGES AND AGREES THAT UPON CLOSING SELLER
SHALL SELL AND CONVEY TO PURCHASER, AND PURCHASER SHALL ACCEPT THE PROPERTY, “AS IS, WHERE IS, WITH
ALL FAULTS”, EXCEPT TO THE EXTENT EXPRESSLY OTHERWISE PROVIDED IN THIS AGREEMENT. PURCHASER
REPRESENTS TO SELLER THAT PURCHASER HAS CONDUCTED, OR PRIOR TO CLOSING SHALL CONDUCT, SUCH
INVESTIGATIONS OF THE PROPERTY, INCLUDING BUT NOT LIMITED TO, THE PHYSICAL AND ENVIRONMENTAL
CONDITIONS THEREOF, AS PURCHASER DEEMS NECESSARY TO SATISFY ITSELF AS TO THE CONDITION OF THE
PROPERTY AND ITS SURROUNDING AREA, AND, EXCEPT FOR SUCH REPRESENTATIONS, WARRANTIES AND COVENANTS
OF SELLER AS EXPRESSLY ARE SET FORTH IN THIS AGREEMENT, SHALL RELY SOLELY UPON SUCH PURCHASER
INVESTIGATIONS AND, FROM AND AFTER CLOSING, SHALL ASSUME THE RISK OF ADVERSE MATTERS, INCLUDING BUT
NOT LIMITED TO, ENGINEERING DEFECTS OR DEFICIENCIES AND ADVERSE PHYSICAL AND ENVIRONMENTAL
CONDITIONS, WHICH MAY NOT HAVE BEEN DISCOVERED BY PURCHASER PRIOR TO CLOSING.

(l) Each party understands that the other party may desire to structure this transaction as
part of a transaction qualifying as a like-kind exchange under Internal Revenue Code Section 1031
(and the regulations promulgated thereunder) and may desire an assignment by the exchanging party
of its rights under this Agreement to a qualified intermediary and a reassignment pursuant to
Section 17(m) below (collectively “Exchange”). Accordingly, either party may assign its rights to
this Agreement to a qualified intermediary, and the other party hereby consents to such Exchange,
provided, however, that the Exchange shall (i) not constitute an assumption by the qualified
intermediary of the exchanging party’s obligations hereunder, (ii) not release the exchanging party
of any of its obligations hereunder, (iii) not create any liabilities for the non-exchanging party
to third parties or create any additional liabilities for the non-exchanging party other than as
contained in this Agreement, (v) be at the sole cost and expense of the exchanging party, and (vi)
not delay Closing. The non-exchanging party shall execute such documents and take such other
action as may reasonably be requested by the exchanging party for the purpose of so qualifying the
transaction as a like-kind exchange under Section 1031 and the regulations thereunder.

The undersigned each understands that any qualified intermediary may desire (some time after
Closing) to reassign the rights to this Agreement to the exchanging party. The non-exchanging
party hereby consents to any such reassignment and agrees that in the event of any such
reassignment, the exchanging party shall enjoy all of the rights and privileges of the exchanging
party under this Agreement and under any documents executed in connection herewith (including, but
not limited to, the right to enforce the breach of any and all representations, warranties,
covenants, and agreements contained in this Agreement or any other document executed in connection
herewith, the right to enforce, and to enjoy, the benefit of any indemnification obligation of the
non-exchanging party contained in this Agreement or any other document executed in connection
herewith, and the right to enforce, enjoy and rely upon any and all waivers, agreements,
acknowledgements, guarantees, releases, discharges, certifications, affirmations, reaffirmations,
undertakings, approvals, admissions, and assumptions executed or undertaken by the non-exchanging
party under or in connection herewith, or the transaction described herein, and the right to enjoy
any and all limitations upon the representations, warranties, agreements, obligations,
responsibilities, and liabilities of the exchanging party under this Agreement). The non-exchanging
party further agrees that in the event of any such reassignment, then the exchanging party shall
have any and all rights, privileges, and remedies against or with respect to the non-exchanging
party as would exist if the assignment (by the exchanging party to the qualified intermediary)
referred to herein had never been made.

(m) RADON. Seller hereby gives the following disclosure as required by applicable Florida
statutes with respect to any Property located in the State of Florida:

Radon is a naturally occurring radioactive gas that,
when it has accumulated in a building in sufficient
quantities, may present health risks to persons who are
exposed to it over time. Levels of radon that exceed
federal and state guidelines have been found in buildings
in Florida. Additional information regarding radon and
radon testing may be obtained from your county public
health unit.

* * * * *

[SIGNATURES COMMENCE ON FOLLOWING PAGE]

1

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

	 	 	 	SELLER: “Joe”

THE ST. JOE COMPANY, a Florida corporation, its sole
member

By: /s/ Michael N. Regan     

	 
	 	 	Name:	 	 	Michael N. Regan
	 	 	Title:	 	 	Chief Financial Officer

“280 Interstate”

280 INTERSTATE NORTH, LLC, a Delaware limited liability
company

By: /s/ Michael N. Regan     

	 
	 	 	Name:	 	 	Michael N. Regan
	 	 	Title:	 	 	Senior Vice President

“Southhall”

SOUTHHALL CENTER, LLC, a Florida limited liability
company

By: /s/ Michael N. Regan     

	 
	 	 	Name:	 	 	Michael N. Regan
	 	 	Title:	 	 	Senior Vice President

“Millenia”

MILLENIA PARK ONE, LLC, a Florida limited liability
company

By: /s/ Michael N. Regan     

	 
	 	 	Name:	 	 	Michael N. Regan
	 	 	Title:	 	 	Senior Vice President

“5660”

5660 NND, LLC, a Florida limited liability company

By: /s/ Michael N. Regan     

	 
	 	 	Name:	 	 	Michael N. Regan
	 	 	Title:	 	 	Senior Vice President

“Georgia Wind I”

GEORGIA WIND I, LLC, a Florida limited liaibility
company

By: /s/ Michael N. Regan     

	 
	 	 	Name:	 	 	Michael N. Regan
	 	 	Title:	 	 	Senior Vice President

“Georgia Wind II”

GEORGIA WIND II, LLC, a Florida limited liability
company

By: /s/ Michael N. Regan     

	 
	 	 	Name:	 	 	Michael N. Regan
	 	 	Title:	 	 	Senior Vice President

“Georgia Wind III”

GEORGIA WIND III, LLC, a Florida limited liability
company

By: /s/ Michael N. Regan     

	 
	 	 	Name:	 	 	Michael N. Regan
	 	 	Title:	 	 	Senior Vice President

“Riverside”

RIVERSIDE CORPORATE CENTER, LLC, a Florida limited
liability company

By: /s/ Michael N. Regan     

	 
	 	 	Name:	 	 	Michael N. Regan
	 	 	Title:	 	 	Senior Vice President

“Overlook”

OVERLOOK I & II LLC, a Florida limited liability company

By: /s/ Michael N. Regan     

	 
	 	 	Name:	 	 	Michael N. Regan
	 	 	Title:	 	 	Senior Vice President

“Deer Point”

DEER POINT I & II, LLC, a Florida limited liability
company

By: /s/ Michael N. Regan     

	 
	 	 	Name:	 	 	Michael N. Regan
	 	 	Title:	 	 	Senior Vice President

“Park Point”

PARK POINT, LLC, a Florida limited liability company

By: /s/ Michael N. Regan     

	 
	 	 	Name:	 	 	Michael N. Regan
	 	 	Title:	 	 	Senior Vice President

“Park Point Land”

PARK POINT LAND, LLC, a Florida limited liability
company

By: /s/ Michael N. Regan     

	 
	 	 	Name:	 	 	Michael N. Regan
	 	 	Title:	 	 	Senior Vice President

“Plume Street”

PLUME STREET, LLC, a Delaware limited liability company

By: /s/ Michael N. Regan     

	 
	 	 	Name:	 	 	Michael N. Regan
	 	 	Title:	 	 	Senior Vice President

Address for Seller:

c/o The St. Joe Company

245 Riverside Avenue

Suite 500

Jacksonville, Florida 32202

Attention: Michael J. Daly, Jr.

Facsimile: 904/301-4511

With a copy to:

The St. Joe Company

245 Riverside Avenue

Suite 500

Jacksonville, Florida 32202

Attention: Scot M. Elder, Esquire

Facsimile: 904/301-4661

With an additional copy to:

McGuireWoods LLP

1170 Peachtree Street, N.E.

Suite 2100

Atlanta, Georgia 30309

Attention: John T. Grieb, Esquire

Facsimile: 404/443-5762

	 	 	 	 	 
	[SIGNATURES CONTINUE ON FOLLOWING PAGE]PURCHASER:EOLA CAPITAL LLC, a

	Florida limited liability company

	By:
	 	/s/ Troy M. Cox          ___________________
	 
	 	 	 	 

Name: Troy M. Cox

Title: Senior Vice President

Address for Purchaser:

512 E. Washington Street,

Suite 200

Orlando, Florida 32801

Attention: Joe P. Kuipers

Facsimile: 407-650-0597

With a copy to:

Greenberg Traurig, P. A.

450 S. Orange Avenue

Suite 650

Orlando, Florida 32801

Attention: Russell P. Hintze, Esq.

Facsimile: 407-420-5909

   ESCROW AGENT:               COMMERCIAL PROPERTY TITLE, LLC

?vspace?
--------------------

                                By:                        /s/ Matthew S. McAfee___________________
                                                           ----------------------------------------

Name: Matthew S. McAfee

Title: President

Address for Escrow Agent:

One Independent Drive

Suite 1200

Jacksonville, Florida 32202

Attention: Matthew S. McAfee, Esq.

Telephone: 904-301-1269

Facsimile: 904-301-1279

2

	 	 	 
	EXHIBIT LIST:

	 	

	 

	 	

	EXHIBIT A:

EXHIBIT A-1:

EXHIBIT A-2

EXHIBIT A-3

EXHIBIT A-4

EXHIBIT A-5

EXHIBIT A-6

EXHIBIT A-7

EXHIBIT A-8

EXHIBIT A-9

EXHIBIT A-10

EXHIBIT A-11

EXHIBIT A-12

EXHIBIT A-13

EXHIBIT A-14

EXHIBIT A-15

	 	Legal Description – Beckrich One Property

Legal Description – Beckrich Two Property

Legal Description – Southwood One Property

Legal Description – 280 Interstate North Property

Legal Description – Southhall Center Property

Legal Description – Millenia Park One/Legacy Point Property

Legal Description - 5660 New Northside Drive Property

Legal Description — 100 Windward Plaza Property

Legal Description — Windward Pointe 200 Property

Legal Description — 300 Windward Plaza Property

Legal Description - 245 Riverside Property

Legal Description - Overlook I Property & Overlook II Property

Legal Description — Deerfield Point I & II Property

Legal Description - Parkwood Point Property

Legal Description - Park Point Land Property

Legal Description - Norfolk Property
	 
	 	 
	EXHIBIT B:

	 	Seller Disclosures
	 
	 	 
	EXHIBIT C:

EXHIBIT C-1:

EXHIBIT C-2

EXHIBIT C-3

EXHIBIT C-4

EXHIBIT C-5

EXHIBIT C-6

EXHIBIT C-7

EXHIBIT C-8

EXHIBIT C-9

EXHIBIT C-10

EXHIBIT C-11

EXHIBIT C-12

EXHIBIT C-13

EXHIBIT C-14

EXHIBIT C-15

	 	Title Exceptions — Beckrich One Property

Title Exceptions – Beckrich Two Property

Title Exceptions – Southwood One Property

Title Exceptions – 280 Interstate North Property

Title Exceptions – Southhall Center Property

Title Exceptions – Millenia Park One/Legacy Point Property

Title Exceptions - 5660 New Northside Drive Property

Title Exceptions — 100 Windward Plaza Property

Title Exceptions — Windward Pointe 200 Property

Title Exceptions — 300 Windward Plaza Property

Title Exceptions - 245 Riverside Property

Title Exceptions - Overlook I Property & Overlook II Property

Title Exceptions — Deerfield Point I & II Property

Title Exceptions - Parkwood Point Property

Title Exceptions - Park Point Land Property

Title Exceptions - Norfolk Property
	 
	 	 
	EXHIBIT D-1:

EXHIBIT D-2:

	 	Form of Tenant Estoppel Certificate

Form of Seller Estoppel Certificate
	 
	 	 
	EXHIBIT 8B:

EXHIBIT 8B-1:

EXHIBIT 8B-2

EXHIBIT 8B-3

EXHIBIT 8B-4

EXHIBIT 8B-5

EXHIBIT 8B-6

EXHIBIT 8B-7

EXHIBIT 8B-8

EXHIBIT 8B-9

EXHIBIT 8B-10

EXHIBIT 8B-11

EXHIBIT 8B-12

EXHIBIT 8B-13

EXHIBIT 8B-14

	 	Lease Disclosure — Beckrich One Property

Lease Disclosure – Beckrich Two Property

Lease Disclosure – Southwood One Property

Lease Disclosure – 280 Interstate North Property

Lease Disclosure – Southhall Center Property

Lease Disclosure – Millenia Park One/Legacy Point Property

Lease Disclosure - 5660 New Northside Drive Property

Lease Disclosure — 100 Windward Plaza Property

Lease Disclosure — Windward Pointe 200 Property

Lease Disclosure — 300 Windward Plaza Property

Lease Disclosure - 245 Riverside Property

Lease Disclosure - Overlook I Property & Overlook II Property

Lease Disclosure — Deerfield Point I & II Property

Lease Disclosure - Parkwood Point Property

Lease Disclosure - Norfolk Property
	 
	 	 
	EXHIBIT 8E:

EXHIBIT 8E-1:

EXHIBIT 8E-2

EXHIBIT 8E-3

EXHIBIT 8E-4

EXHIBIT 8E-5

EXHIBIT 8E-6

EXHIBIT 8E-7

EXHIBIT 8E-8

EXHIBIT 8E-9

EXHIBIT 8E-10

EXHIBIT 8E-11

EXHIBIT 8E-12

EXHIBIT 8E-13

EXHIBIT 8E-14

	 	Service Contracts — Beckrich One Property

Service Contracts – Beckrich Two Property

Service Contracts – Southwood One Property

Service Contracts – 280 Interstate North Property

Service Contracts – Southhall Center Property

Service Contracts – Millenia Park One/Legacy Point Property

Service Contracts - 5660 New Northside Drive Property

Service Contracts — 100 Windward Plaza Property

Service Contracts — Windward Pointe 200 Property

Service Contracts — 300 Windward Plaza Property

Service Contracts - 245 Riverside Property

Service Contracts - Overlook I Property & Overlook II Property

Service Contracts — Deerfield Point I & II Property

Service Contracts - Parkwood Point Property

Service Contracts - Norfolk Property
	 
	 	 
	EXHIBIT 8G

	 	E* Trade Lease – Leasing Commissions and Tenant Improvements
	 
	 	 
	EXHIBIT 8K:

EXHIBIT 8K-1:

EXHIBIT 8K-2

EXHIBIT 8K-3

EXHIBIT 8K-4

EXHIBIT 8K-5

EXHIBIT 8K-6

EXHIBIT 8K-7

EXHIBIT 8K-8

EXHIBIT 8K-9

EXHIBIT 8K-10

	 	Environmental Disclosure — Beckrich One Property

Environmental Disclosure – Beckrich Two Property

Environmental Disclosure – Southwood One Property

Environmental Disclosure – 280 Interstate North Property

Environmental Disclosure – Southhall Center Property

Environmental Disclosure – Millenia Park One/Legacy Point Property

Environmental Disclosure - 5660 New Northside Drive Property

Environmental Disclosure — 100 Windward Plaza Property

Environmental Disclosure — Windward Pointe 200 Property

Environmental Disclosure — 300 Windward Plaza Property

Environmental Disclosure - 245 Riverside Property

EXHIBIT 8K-11 Environmental Disclosure —  Overlook I Property & Overlook II Property

	 	 	EXHIBIT 8K-12 Environmental Disclosure — Deerfield Point I & II Property

EXHIBIT 8K-13 Environmental Disclosure — Parkwood Point Property and Park Point Land Property

	 	 	 
	EXHIBIT 8K-14

	 	Environmental Disclosure — Norfolk Property
	 
	 	 
	EXHIBIT 11(a)(viii)

EXHIBIT 11(a)(ix)

EXHIBIT 11(a)(x)

	 	Terms of E* Trade Lease

Form of Arseal Lease

Form of Cygnus Lease
	 
	 	 
	EXHIBIT E:

	 	Form of Assignment and Assumption
	 
	 	 
	EXHIBIT F:

EXHIBIT F-1:

EXHIBIT F-2:

	 	Form of Florida Special Warranty Deed

Form of Georgia Limited Warranty Deed

Form of Virginia Special Warranty Deed
	 
	 	 
	EXHIBIT G:

EXHIBIT G-1:

EXHIBIT G-2:

	 	St. Joe Lease Terms – 245 Riverside

St. Joe Lease Terms – Beckrich One

St. Joe Lease Terms – Southwood
	 
	 	 
	EXHIBIT F:

	 	Form of St. Joe Lease – 245 Riverside, Beckrich One and Southwood

3

[Side Letter Agreement]

April 30, 2007

Eola Capital LLC

512 East Washington Street

Orlando, Florida 32801

Attn: Mr. Troy M. Cox

	 	 	 	Re: Purchase and Sale Agreement dated April 30, 2007 (the “Agreement”), by and
between EOLA CAPITAL LLC, a Florida limited liability company, and its permitted
assigns (“Purchaser”) and THE ST. JOE COMPANY, a Florida corporation (“Joe”),
(“280 Interstate”), SOUTHHALL CENTER, L.L.C. (“Southhall”) a Florida limited liability
company, MILLENIA PARK ONE, L.L.C., a Florida limited liability company (“Millenia”),
5660 NND, L.L.C., a Florida limited liability company (“5600”), GEORGIA WIND I, LLC, a
Florida limited liability company (“Georgia Wind I”), GEORGIA WIND II, LLC, a Florida
limited liability company (“Georgia Wind II”), GEORGIA WIND III, LLC, a Florida
limited liability company (“Georgia Wind III”), RIVERSIDE CORPORATE CENTER, L.L.C., a
Florida limited liability company (“Riverside”), OVERLOOK I & II, L.L.C., a Florida
limited liability company (“Overlook”), DEER POINT I & II, LLC, a Florida limited
liability company (“Deer Point”), PARK POINT, LLC, a Florida limited liability company
(“Park Point”) and PLUME STREET, LLC, a Delaware limited liability company (“Plume
Street”; Joe, 280 Interstate, Southhall, Millenia, 5660, Georgia Wind I, Georgia Wind
II, Georgia Wind III, Riverside, Overlook, Deer Point, Park Point and Plume Street are
collectively referred to as “Seller”), and joined in for the limited purposes
set forth herein by COMMERCIAL PROPERTY TITLE, LLC, as escrow agent (“Escrow
Agent”).

Dear Mr. Cox:

Reference is made to the above-referenced Agreement. Capitalized terms not otherwise defined
herein shall have the respective meanings ascribed to them in the Agreement. As an additional
inducement for the parties to enter into the Agreement and to agree to consummate the transactions
contemplated therein, and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereby agree to supplement and modify the Agreement as
follows:

	1)	 	Satisfaction and Defeasance of Existing Loans. Notwithstanding anything to the
contrary contained in Sections 4(b), 4(c), or any other provision of the Agreement, Purchaser
and Seller acknowledge and agree that Purchaser shall have the right (but not the obligation),
subject to the Norfolk Existing Lender’s consent and the Parkwood Point Existing Lender’s
consent, respectively, and at Purchaser’s expense, to satisfy or defease (rather than assume)
the Norfolk Existing Loan and/or the Parkwood Point Existing Loan at Closing.

	2)	 	Extension of Closing Date. Notwithstanding anything to the contrary contained in
Section 6(a) or any other provision of the Agreement, in the event that the Norfolk Property
or the Parkwood Point Property become an Excluded Property under Section 6(a) of the
Agreement, the Closing for any such Excluded Property shall be deferred in accordance with
Paragraph 3 below, and a pro rata portion of the Deposit (based upon the relative Purchase
Price allocations for the Norfolk Property and the Parkwood Point Property, respectively; the
“Excluded Property Deposit”) shall continue to be held by the Escrow Agent until the Closing
of the Excluded Property.

	3)	 	Deferred Closings. If a Property is an Excluded Property pursuant to Section 6(a) of
the Agreement, then the Closing(s) for any such Excluded Property (each a “Deferred Closing”)
shall be deferred until the date that is fifteen (15) days following Purchaser’s notice to
Seller that the conditions set forth in Section 11(a) have been satisfied with respect to such
Excluded Property (each a “Deferred Closing Date”). The amount of the Purchase Price payable
at Closing of the Property (other than an Excluded Property) shall be reduced by the Allocated
Purchase Price of the Excluded Property (or Excluded Properties). As to any Excluded
Property, the terms, conditions and covenants of the Agreement shall remain in full force and
effect as to the Deferred Closing and Deferred Closing Date for such Excluded Property and
Seller and Purchaser shall use commercially reasonable efforts to satisfy such conditions. If
the conditions to Closing with respect to any Excluded Property are not satisfied by August 1,
2007, and Seller and Purchaser are using commercially reasonable efforts to satisfy such
conditions, then absent an agreement by the parties to the contrary, any and all of each
party’s rights, liabilities, obligations, representations and warranties with respect to such
Excluded Property shall be void and of no further force and effect and Purchaser shall be
entitled to a refund of the Excluded Property Deposit with respect to such Excluded Property;
provided, however, such rights, liabilities, and obligations, together with all of the terms
of the Agreement, shall remain in full force and effect with respect to all Properties being
conveyed.

	4)	 	Effect on Agreement. Notwithstanding anything to the contrary set forth in the
Agreement, the parties agree that the provisions of this letter agreement shall modify the
provisions of the Agreement and shall constitute a part of the Agreement as though fully set
forth therein. Additionally, to the extent that the provisions of this letter agreement and
the Agreement are inconsistent, the terms of this letter agreement shall prevail.

If the foregoing accurately reflects our understandings, please indicate your agreement by
executing this letter agreement as indicated below.

Sincerely yours,

“Joe”

THE ST. JOE COMPANY, a Florida corporation, its sole
member

By: /s/ Michael N. Regan     

	 	 	 
	 	 	Name:	 	 	Michael N. Regan
	 	 	Title:	 	 	Chief Financial Officer

“280 Interstate”

280 INTERSTATE NORTH, LLC, a Delaware limited
liability company

By: /s/ Michael N. Regan     

	 	 	 
	 	 	Name:	 	 	Michael N. Regan
	 	 	Title:	 	 	Senior Vice President

“Southhall”

SOUTHHALL CENTER, LLC, a Florida limited liability
company

By: /s/ Michael N. Regan     

	 	 	 
	 	 	Name:	 	 	Michael N. Regan
	 	 	Title:	 	 	Senior Vice President

“Millenia”

MILLENIA PARK ONE, LLC, a Florida limited liability
company

By: /s/ Michael N. Regan     

	 	 	 
	 	 	Name:	 	 	Michael N. Regan
	 	 	Title:	 	 	Senior Vice President

“5660”

5660 NND, LLC, a Florida limited liability company

By: /s/ Michael N. Regan     

	 	 	 
	 	 	Name:	 	 	Michael N. Regan
	 	 	Title:	 	 	Senior Vice President

“Georgia Wind I”

GEORGIA WIND I, LLC, a Florida limited liaibility
company

By: /s/ Michael N. Regan     

	 	 	 
	 	 	Name:	 	 	Michael N. Regan
	 	 	Title:	 	 	Senior Vice President

“Georgia Wind II”

GEORGIA WIND II, LLC, a Florida limited liability
company

By: /s/ Michael N. Regan     

	 	 	 
	 	 	Name:	 	 	Michael N. Regan
	 	 	Title:	 	 	Senior Vice President

“Georgia Wind III”

GEORGIA WIND III, LLC, a Florida limited liability
company

By: /s/ Michael N. Regan     

	 	 	 
	 	 	Name:	 	 	Michael N. Regan
	 	 	Title:	 	 	Senior Vice President

“Riverside”

RIVERSIDE CORPORATE CENTER, LLC, a Florida limited
liability company

By: /s/ Michael N. Regan     

	 	 	 
	 	 	Name:	 	 	Michael N. Regan
	 	 	Title:	 	 	Senior Vice President

“Overlook”

OVERLOOK I & II LLC, a Florida limited liability
company

By: /s/ Michael N. Regan     

	 	 	 
	 	 	Name:	 	 	Michael N. Regan
	 	 	Title:	 	 	Senior Vice President

“Deer Point”

DEER POINT I & II, LLC, a Florida limited liability
company

By: /s/ Michael N. Regan     

	 	 	 
	 	 	Name:	 	 	Michael N. Regan
	 	 	Title:	 	 	Senior Vice President

“Park Point”

PARK POINT, LLC, a Florida limited liability company

By: /s/ Michael N. Regan     

	 	 	 
	 	 	Name:	 	 	Michael N. Regan
	 	 	Title:	 	 	Senior Vice President

“Park Point Land”

PARK POINT LAND, LLC, a Florida limited liability
company

By: /s/ Michael N. Regan     

	 	 	 
	 	 	Name:	 	 	Michael N. Regan
	 	 	Title:	 	 	Senior Vice President

“Plume Street”

PLUME STREET, LLC, a Delaware limited liability
company

By: /s/ Michael N. Regan     

4

	 	 	 
	

{                                    Name:     }            Michael N. Regan
{                                    Title:    }            Senior Vice President

5

Acknowledged and agreed this                   }
30th day of April, 2007.                       }
EOLA CAPITAL LLC,                              }
a Delaware limited liability company           }
By:  /s/ Troy M. Cox_______________            }

Name:  Troy M. Cox                             }
Title:  Vice President                         }
COMMERCIAL PROPERTY TITLE, LLC                 }
By: /s/ Matthew S. McAfee_________             }

Name: Matthew S. McAfee
Title:                        President
Name:
	 	 	 	Michael N. Regan
	Title:	 	 	 	Senior Vice President
	Acknowledged and agreed this
	30th day of April, 2007.
	EOLA CAPITAL LLC,
	a Delaware limited liability company
	By: /s/ Troy M. Cox_______________
	Name: Troy M. Cox
	Title: Vice President
	COMMERCIAL PROPERTY TITLE, LLC
	By: /s/ Matthew S. McAfee_________
	Name: Matthew S. McAfee
	Title:	 	President

6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}]]