Document:

<PAGE>

                                                                EXHIBIT 10.59

                         CONSENT TO TRANSFER OF PROPERTY
            AND ASSUMPTION OF AMENDED AND RESTATED SECURED PROMISSORY
          NOTE, AMENDED AND RESTATED DEED TO SECURE DEBT AND SECURITY
                    AGREEMENT, LOAN AGREEMENT, ASSIGNMENT OF
                 LEASES AND RENTS AND ESCROW SECURITY AGREEMENT
                                     752693

         THIS CONSENT TO TRANSFER OF PROPERTY AND ASSUMPTION OF AMENDED AND
RESTATED SECURED PROMISSORY NOTE, AMENDED AND RESTATED DEED TO SECURE DEBT AND
SECURITY AGREEMENT, LOAN AGREEMENT, ASSIGNMENT OF LEASES AND RENTS AND ESCROW
SECURITY AGREEMENT ("Consent and Assumption") is entered into effective as of
August 13, 2004 among (i) LASALLE BANK NATIONAL ASSOCIATION, AS TRUSTEE FOR
MORGAN STANLEY DEAN WITTER CAPITAL I INC., COMMERCIAL MORTGAGE PASS-THROUGH
CERTIFICATES, SERIES 2001-TOP1 ("Lender"); (ii) THE PROMENADE AT PLEASANT HILL,
L.P., a Georgia limited partnership ("Current Borrower"); (iii) RAMCO PROMENADE
LLC, a Michigan limited liability company ("Proposed Borrower"); (iv) JAMES C.
WALLACE, JR. ("Current Guarantor") and (v) RAMCO-GERSHENSON PROPERTIES, L.P.
("Proposed Guarantor").

                                   WITNESSETH:

         WHEREAS, PRINCIPAL COMMERCIAL FUNDING, LLC ("Original Lender") provided
Current Borrower a loan (the "Loan") in the original principal amount of
Fourteen Million Two Hundred Sixteen Thousand Dollars ($14,216,000.00) evidenced
by a Amended and Restated Secured Promissory Note dated August 24, 2000, from
Current Borrower to Original Lender (the "Note") secured by a Amended and
Restated Deed to Secure Debt and Security Agreement dated August 24, 2000 (the
"Mortgage") covering the property described therein (the "Property") and
recorded September 1, 2000 in Book 21208, Page 0035 among the land records of
Gwinnett County, Georgia, and an Assignment of Leases and Rents dated August 24,
2000 (the "Assignment of Leases and Rents") and recorded September 1, 2000 in
Book 21208, Page 0083 among the land records of Gwinnett County, Georgia (the
Note, the Mortgage, the Assignment of Leases and Rents, Loan Agreement and all
other documents, instruments and agreements executed and delivered in connection
with the Loan, as heretofore amended, modified, or assigned, to be referred to
hereinafter as the "Current Loan Documents"); and

         WHEREAS, Original Lender assigned the Mortgage and the Assignment of
Leases and Rents to Lender through an Assignment of Amended and Restated Deed to
Secure Debt and Security Agreement dated February 23, 2001 and recorded
September 17, 2001, in Book 24491, at Page 0216, in the Gwinnett County,
Georgia; and

         WHEREAS, Current Borrower and Proposed Borrower have requested that
Lender consent to the transfer of Current Borrower's interest in the Property to
Proposed Borrower and Lender will consent to the transfer of Current Borrower's
interest in the Property to Proposed

<PAGE>

Borrower provided that: (i) Proposed Borrower enters into this Consent and
Assumption assuming Current Borrower's obligations under the Note, Mortgage,
Assignment of Leases and Rents, Loan Agreement dated August 24, 2000 and Escrow
Security Agreement dated August 24, 2000, (collectively with this document, the
"Loan Documents"); (ii) Proposed Borrower enters into that certain Environmental
Indemnity Agreement dated of even date herewith; and (iii) Proposed Guarantor
enters into the Guaranty of even date herewith.

         NOW, THEREFORE, in consideration of the above premises and of the
benefits to be obtained by the covenants contained herein, and for other good,
valuable and legal consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties hereto intending to be legally bound hereby agree as
follows:

1.       Lender hereby consents to the transfer of all of Current Borrower's
         interest in the Property to Proposed Borrower. Nothing herein shall in
         any way be construed to impair or affect the first lien priority of the
         Mortgage.

2.       Proposed Borrower hereby agrees to assume all of Current Borrower's
         obligations under the Loan Documents and abide by the terms thereof.
         The funds used to facilitate the purchase of the Property are a capital
         contribution and are not secured, directly or indirectly, by an
         interest in the Proposed Borrower or other collateral assigned to the
         Lender.

3.       Lender's consent to this transfer and assumption of all of Current
         Borrower's obligations under the Loan Documents by Proposed Borrower
         shall not be deemed to be a waiver of Lender's requirements for consent
         to any future transfer.

4.       On the date that Proposed Borrower assumes the loan and acquires the
         ownership interest in the Property from Current Borrower, which shall
         be the same date as the date this document is recorded ("Transfer
         Date"), Current Borrower and Current Guarantor shall be released from
         all obligations under the Loan Documents and Current Guarantor shall be
         released from all obligations under that certain Guaranty dated August
         24, 2000 in connection with the loan documents except Current Borrower
         and Current Guarantor shall remain liable to Lender, its successors
         and/or assigns for any environmental indemnity obligations specified in
         the Mortgage/under that certain Environmental Indemnity Agreement dated
         August 24, 2000, and/or for any Hazardous Material (as defined in the
         Environmental Indemnity Agreement/Mortgage) introduced to the Property
         prior to the Transfer Date or introduced by Current Borrower or Current
         Guarantor after the Transfer Date.

5.       Proposed Guarantor agrees to enter into the Guaranty and abide by the
         terms thereof.

6.       As of the date hereof, Borrower is a Michigan limited liability.
         Borrower shall become a Delaware limited liability company within 60
         days after the Transfer Date.

7.       The following shall be added as a Permitted Transfer in the Mortgage:
         "1) transfer of limited partnership interests of Ramco-Gershenson
         Properties, L.P. (RGPLP), the limited

<PAGE>

         partnership which owns the sole membership in Borrower and (2) sales of
         publicly traded shares of Ramco-Gershenson Properties Trust (RGPT),
         which is a publicly traded real estate trust that is the general
         partner of RGPLP provided (i) RGPLP shall continue to own the Borrower,
         which shall continue to own the Premises and (ii) RGPT continues to be
         the general partner of RGPLP and own a 70% interest in RGPLP". Lender
         acknowledges that such transfers shall not be deemed a default under
         any of the Current Loan Documents or trigger the payment obligations,
         if any, under applicable escrow reserves or other similar accounts.

8.       The Notice address to Borrower, as shown on the first page of the
         Mortgage, is hereby changed to read: 31500 Northwestern Highway, Suite
         300, Farmington Hills, MI 48334

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

10.      Except as herein specifically modified and consented to, the Loan
         Documents shall remain in full force and effect as written.

11.      Proposed Borrower and Proposed Guarantor will not be responsible or
         liable for breach of a warranty or representation by Current Borrower
         and/or Current Guarantor, exclusive of the Environmental Indemnity
         Agreement.

12.      This Consent and Assumption shall be governed by the laws of the state
         of Georgia and be binding upon and inure to the benefit of the parties
         hereto, their successors and assigns.

         IN WITNESS WHEREOF, the parties have signed and sealed this agreement
as of the date and year above written.

                      (Signatures begin on following page)

<PAGE>

                          LENDER:

                          LASALLE BANK NATIONAL ASSOCIATION,
                          AS TRUSTEE FOR MORGAN STANLEY DEAN
                          WITTER CAPITAL I INC., COMMERCIAL
                          MORTGAGE PASS-THROUGH CERTIFICATES,
                          SERIES 2001-TOP1

                           By:   PRINCIPAL GLOBAL INVESTORS, LLC,
                                 formerly known as PRINCIPAL CAPITAL
                                 MANAGEMENT, LLC, a Delaware limited
                                 liability company, in its capacity as Primary
                                 Servicer its authorized signatory

                                 By: /s/  Patrick G. Haiter
                                 Patrick G. Haiter,
                                 Executive Director
                                 (Principal Real Estate Investments)

                            By: /s/  Christopher J. Henderson
                            Christopher J. Henderson,
                                Counsel

                          CURRENT BORROWER:

                          THE PROMENADE AT PLEASANT HILL, L.P.,
                          A Georgia limited partnership

                          By: /s/  James C. Wallace Jr.
                          James C. Wallace Jr.,
                          Sole General Partner

                          CURRENT GUARANTOR:

                          By: /s/  James C. Wallace Jr.
                          James C. Wallace Jr., an
                          Individual Guarantor

(Signatures continue on following page)

<PAGE>

                          PROPOSED BORROWER:

                          RAMCO PROMENADE LLC, a Michigan
                          limited liability company

                          By: /s/  Richard J. Smith
                          Richard J. Smith,
                          Chief Financial Officer

                          PROPOSED GUARANTOR:

                          RAMCO-GERSHENSON PROPERTIES, L.P., a
                          Delaware limited partnership

                          By     RAMCO-GERSHENSON
                                 PROPERTIES TRUST, a Maryland
                                 real estate investment trust, its Sole
                                 General Partner

                                 By: /s/  Richard J. Smith
                                 Richard J. Smith,
                                 Chief Financial Officer

                                           And

                                 By: /s/ Richard Gershenson
                                 Richard Gershenson,
                                 EVP<PAGE>
                                                                  Exhibit 10.60

                       REAFFIRMATION, CONSENT TO TRANSFER
                         AND SUBSTITUTION OF INDEMNITOR

     THIS REAFFIRMATION, AND CONSENT TO TRANSFER AND SUBSTITUTION OF INDEMNITOR
(this "AGREEMENT") is made and entered into as September 7, 2004, by and among
the following parties:

A.   BOCA MISSION, LLC, a Delaware limited liability company having a new
     address at 31500 Northwestern Highway, Suite 300, Farmington Hills, MI
     48334 ("BORROWER");

B.   INVESTCORP PROPERTIES LIMITED, a Delaware corporation having an address at
     280 Park Avenue, New York, NY 10017 (the "ORIGINAL INDEMNITOR");

C.   NWC GLADES 441, INC., a Delaware corporation having an address at 280 Park
     Avenue, New York, NY 10017 (the "ORIGINAL PRINCIPAL");

D.   DIVERSIFIED INVEST II, LLC, a Delaware limited liability company having an
     address at 280 Park Avenue, New York, NY 10017 ("DIVERSIFIED", and together
     with the Original Principal, "SELLER");

     (Original Indemnitor, Original Principal and Diversified are sometimes
     referred to herein as the "ORIGINAL OBLIGORS");

E.   RAMCO BOCA SPC, INC., a Delaware corporation having an address at 31500
     Northwestern Highway, Suite 300, Farmington Hills, MI 48334, the Managing
     Member of Borrower (the "SUBSTITUTE PRINCIPAL");

F.   RAMCO - GERSHENSON PROPERTIES, L.P., a Delaware limited partnership having
     an address at 31500 Northwestern Highway, Suite 300, Farmington Hills, MI
     48334 (the "PURCHASER", and in its capacity as a substitute indemnitor, the
     "SUBSTITUTE INDEMNITOR");

     (Purchaser, Substitute Principal and Substitute Indemnitor are sometimes
     referred to herein as the "SUBSTITUTE OBLIGORS")

G.   LASALLE BANK NATIONAL ASSOCIATION, AS TRUSTEE FOR THE REGISTERED HOLDERS OF
     LB-UBS COMMERCIAL MORTGAGE TRUST 2003-C5, COMMERCIAL MORTGAGE PASS-THROUGH
     CERTIFICATES, SERIES 2003-C5 whose mailing address is c/o Wachovia
     Securities, Commercial Real Estate Services, 8739 Research Dr., URP4,
     Charlotte, NC 28288-1075 (28262-1075 for overnight deliveries) ("LENDER").

                                        1
<PAGE>
                                    RECITALS

     1. Lehman Brothers Bank FSB (the "ORIGINAL LENDER"), pursuant to the Loan
Documents (as hereinafter defined) made a loan to Borrower in the original
principal amount of $40,500,000 (the "LOAN"). The Loan is evidenced and secured
by the following documents executed in favor of Original Lender by Borrower:

     a.   Promissory Note dated as of April 11, 2003, payable by Borrower to
          Original Lender in the original principal amount of $40,500,000 (the
          "NOTE");

     b.   Mortgage and Security Agreement (the "MORTGAGE") of even date with the
          Note, granted by Borrower to Original Lender, recorded in the real
          estate records of Palm Beach County, State of Florida ("RECORDER'S
          OFFICE");

     c.   Assignment of Leases and Rents of even date with the Note granted by
          Borrower to Original Lender, recorded in the Recorder's Office (the
          "ASSIGNMENT");

     d.   UCC-1 financing statements with Borrower as debtor and Original Lender
          as secured party, filed with the Recorder's Office and with the
          Secretary of State of the State of Delaware (collectively the
          "FINANCING STATEMENTS");

     e.   Guaranty of Recourse Obligations of Borrower by and between Original
          Indemnitor and Original Lender of even date with the Note (the
          "INDEMNITY AGREEMENT");

     f.   Environmental Indemnity Agreement by and between Borrower, Original
          Indemnitor and Original Lender of even date with the Note (the
          "ENVIRONMENTAL INDEMNITY AGREEMENT");

     g.   Cash Management Agreement by and between Borrower and Original Lender
          of even date with the Note;

     h.   Assignment of Agreements, Permits and Contracts by and between
          Borrower and Original Lender of even date with the Note;

     i.   Replacement Reserve and Security Agreement by and between Borrower and
          Original Lender of even date with the Note;

     j.   Excess Cash Reserve and Security Agreement by and between Borrower and
          Original Lender of even date with the Note; and

     k.   Tenant Improvement and Leasing Commission Reserve and Security
          Agreement by and between Borrower and Original Lender of even date
          with the Note.

                                        2
<PAGE>
     The foregoing documents, together with any and all other documents executed
by Borrower and/or Original Indemnitor in connection with the Loan, are
collectively called the "LOAN DOCUMENTS."

     2. Original Lender assigned, sold and transferred its interest in the Loan
and all Loan Documents to Lender and Lender is the current holder of all of
Original Lender's interest in the Loan and Loan Documents.

     3. Borrower continues to be the owner of fee title to the real property and
improvements located thereon and continues to be the owner of all of the
property as described in and encumbered by the Mortgage and the other Loan
Documents (the "PROPERTY").

     4. Pursuant to that certain Contract of Sale and Purchase dated June 29,
2004, (such agreement together with all amendments thereto the "PURCHASE
AGREEMENT"), Diversified agreed to transfer and sell all of Diversified's
membership interests in the Borrower (representing 99.9% of the ownership
interests of Borrower) to the Purchaser and Original Principal agreed to
transfer and sell all of Original Principal's membership interest in the
Borrower (representing 0.10% of the ownership interests of Borrower) to the
Substitute Principal (collectively, the "TRANSFERRED OWNERSHIP INTERESTS").

     5. Borrower (after giving effect to transfer of the Transferred Ownership
Interests) and Purchaser agreed that Substitute Principal would be substituted
in place of and instead of Original Principal as the sole Manager of the
Borrower (the "TRANSFERRED MANAGEMENT INTERESTS").

     (the transfers contemplated in Section 4 and Section 5 above are referred
     to as the "TRANSFER").

     6. The parties acknowledge and agree that Section 8.1 of the Mortgage
requires the consent of Lender for the Transfer. Borrower, Original Obligors and
Substitute Obligors have all requested that Lender consent to the Transfer,
subject to conditions contained in the Mortgage, the other Loan Documents and
this Agreement.

     7. Borrower, Original Obligors and Substitute Obligors have also all
requested that Lender consent to the substitution of Substitute Indemnitor as
indemnitor and guarantor under the Indemnity Agreement and the Environmental
Indemnity Agreement and to the assumption by Substitute Indemnitor of all the
obligations of Original Indemnitor under the Indemnity Agreement, the
Environmental Indemnity Agreement, and the other Loan Documents to which
Original Indemnitor is a party (the "SUBSTITUTION").

     8. Lender is willing to consent to the Transfer and the Substitution on and
subject to the terms and conditions set forth in this Agreement and in the
Mortgage and in the other Loan Documents.

                                        3
<PAGE>
                             STATEMENT OF AGREEMENT

     In consideration of the mutual covenants and agreements set forth herein,
the parties hereto hereby agree as follows:

     1. CERTAIN REPRESENTATIONS, WARRANTIES, AND COVENANTS REGARDING THE
TRANSFER.

     a.   Diversified hereby represents and warrants to Lender that it is owner
          of 99.9% of the Transferred Ownership Interests, that its ownership
          interest is unencumbered, that contemporaneously with the execution
          and delivery hereof, it has conveyed and transferred its Transferred
          Ownership Interests, and that Diversified is not obtaining or
          retaining any security interest or other interest in its Transferred
          Ownership Interests. Diversified further represents and warrants to
          Lender that in connection with the Transfer, Diversified has retained
          no ownership or managerial interest in the Borrower.

     b.   Original Principal hereby represents and warrants to Lender that it is
          the owner of 0.10% of the Transferred Ownership Interests and the
          Transferred Management Interests, that its ownership interest is
          unencumbered, that contemporaneously with the execution and delivery
          hereof, it has conveyed and transferred all of its Transferred
          Ownership Interests and all of the Transferred Management Interests to
          Substitute Principal, and that Original Principal is not obtaining or
          retaining any security interest in its Transferred Ownership Interests
          or Transferred Management Interests; Original Principal further
          represents and warrants to Lender in connection with the Transfer,
          Original Principal has retained no ownership or managerial interest in
          the Borrower.

     c.   Purchaser hereby represents and warrants to Lender, as of the date
          hereof, that simultaneously with the execution and delivery hereof,
          Purchaser has purchased from Diversified all of its Transferred
          Ownership Interests and that Purchaser has not conveyed or granted
          Seller, Original Principal or any other party any security interest or
          other interest in the Transferred Ownership Interests.

     d.   Substitute Principal hereby represents and warrants to Lender, as of
          the date hereof, that simultaneously with the execution and delivery
          hereof, Substitute Principal has purchased from Original Principal all
          of its Transferred Ownership Interest and all of the Transferred
          Management Interests and that Substitute Principal has not conveyed or
          granted Seller, Original Principal or any other party any security
          interest or other interest in the Transferred Ownership Interests or
          Transferred Management Interests.

     e.   Original Principal hereby represents and warrants to Lender that the
          organizational documents of Borrower, as delivered to Original Lender
          in connection with the closing of the Loan (the "BORROWER
          ORGANIZATIONAL DOCUMENTS") have not been modified, amended, altered or
          changed since the date of the closing of the Loan.

                                        4
<PAGE>
     f.   Borrower, Original Principal, Substitute Principal, Diversified and
          Purchaser each hereby represent and warrant to Lender that, other than
          the substitution of Purchaser and Substitute Principal as the owner of
          the Transferred Ownership Interests and the Transferred Management
          Interests, the Transfer will not result in any modification,
          amendment, alteration or change to the Borrower Organizational
          Documents (other than changes to the Borrower Organizational Documents
          necessary to effect the Transfer and Substitution). Purchaser and
          Substitute Principal each hereby covenants and agrees that it will be
          bound by the provisions of the Borrower Organizational Documents.
          Borrower, Purchaser and Substitute Principal covenant and agree that
          Borrower will remain a bankruptcy remote, special purpose entity
          throughout the term of the Loan in accordance with the terms of the
          Loan Documents.

     g.   Original Principal hereby represents and warrants to Lender that the
          organizational documents of Original Principal, as delivered to
          Original Lender in connection with the closing of the Loan (the
          "ORIGINAL PRINCIPAL ORGANIZATIONAL DOCUMENTS") have not been modified,
          amended, altered or changed since the date of the closing of the Loan
          (other than changes to the Original Principal Organizational Documents
          necessary to effect the Transfer and Substitution).

     2. REPRESENTATIONS, WARRANTIES, AND COVENANTS OF BORROWER, ORIGINAL
INDEMNITOR, ORIGINAL PRINCIPAL AND DIVERSIFIED.

     a.   The Borrower and Original Principal each hereby represent and warrant
          to Lender, as of the date hereof, that:

          i.   the Mortgage is a valid first lien on the Property for the full
               unpaid principal amount of the Loan and all other amounts as
               stated therein;

          ii.  there are no defaults under the provisions of the Note, the
               Mortgage, the Indemnity Agreement, the Environmental Indemnity
               Agreement, or the other Loan Documents;

          iii. there are no defenses, set-offs or rights of defense, set-off or
               counterclaim whether legal, equitable or otherwise to the
               obligations evidenced by or set forth in the Note, the Mortgage,
               the Indemnity Agreement, the Environmental Indemnity Agreement,
               or the other Loan Documents;

          iv.  all provisions of the Note, Mortgage, the Indemnity Agreement,
               the Environmental Indemnity Agreement, and other Loan Documents
               are in full force and effect, except as modified herein;

          v.   there are no subordinate liens of any kind covering or relating
               to the Property nor are there any mechanics' liens or liens for
               unpaid taxes or assessments encumbering the Property, nor has
               notice of a lien or notice of intent to file a lien been
               received; and

                                        5
<PAGE>
          vi.  The Borrower and Original Principal hereby represent and warrant
               that the representations and warranties made by Borrower in the
               Mortgage, Note, other Loan Documents or in any other documents or
               instruments delivered in connection with the Note, the Mortgage,
               or other Loan Documents are true, on and as of the date hereof,
               with the same force and effect as if made on and as of the date
               hereof, except as disclosed to Lender, and provided that
               "Permitted Exceptions" shall be updated to include any exceptions
               to title shown in the title policy issued to Borrower on the date
               hereof, and that no representation is made with respect to
               Section 5.14(a) of the Mortgage or Exhibits D and E to Borrower's
               Certification and the Rent Roll attached hereto shall be
               substituted for Exhibit J to Borrower's Certification.

          vii. The Original Indemnitor hereby represents and warrants that the
               representations and warranties, if any, made by Original
               Indemnitor in the Mortgage, Note, other Loan Documents or in any
               other documents or instruments delivered in connection with the
               Note, the Mortgage, or other Loan Documents are true, on and as
               of the date hereof, with the same force and effect as if made on
               and as of the date hereof.

     b.   Original Indemnitor hereby represents and warrants that (i) the
          representations and warranties made by Original Indemnitor under the
          Indemnity Agreement and Environmental Indemnity Agreement are true, on
          and as of the date hereof, with the same force and effect as made on
          and as of the date hereof; (ii) there are no defaults under the
          provisions of the Indemnity Agreement and the Environmental Indemnity
          Agreement; (iii) all provisions of the Indemnity Agreement and the
          Environmental Indemnity Agreement are in full force and effect; and
          (iv) there are no defenses, setoffs or rights of defense, setoff or
          counterclaim whether legal, equitable or otherwise to the obligations
          set forth in the Indemnity Agreement or Environmental Indemnity
          Agreement.

     c.   Original Principal, Original Indemnitor and Diversified hereby
          covenant and agree that from and after the date hereof, Lender may
          deal solely with Borrower (as newly constituted) and Substitute
          Obligors in all matters relating to the Loan, the Loan Documents, and
          the Property and that Lender has no further duty or obligation of any
          nature relating to this Loan or the Loan Documents to Original
          Principal, Original Indemnitor and Diversified.

     d.   Original Obligors understand and intend that Lender shall rely on the
          representations, warranties and covenants contained herein.

                                        6
<PAGE>
     3. REPRESENTATIONS, WARRANTIES, AND COVENANTS OF BORROWER AND SUBSTITUTE
OBLIGORS.

     a.   Substitute Obligors hereby represent and warrant to Lender, as of the
          date hereof, that:

          i.   to the knowledge of Substitute Obligors, no default or Event of
               Default (as defined in the Mortgage) has occurred or is
               continuing;

          ii.  to the knowledge of Substitute Obligors, all provisions of the
               Loan Documents are in full force and effect; and

          iii. to the knowledge of Substitute Obligors, the representations and
               warranties made in the Mortgage, Note, and other Loan Documents
               or in any other documents or instruments delivered in connection
               with the Note, the Mortgage, or the other Loan Documents are
               true, on and as of the date hereof (except as specified in
               Section 2(a)(vii)).

     b.   Borrower and Substitute Obligors hereby covenant and agree as follows:

          i.   Borrower and Substitute Indemnitor shall perform all the
               respective past, present and future obligations contained in the
               Loan Documents in accordance with the terms of this Agreement;

          ii.  Borrower shall continue to pay when and as due all sums due under
               the Note and other Loan Documents (as modified hereby);

          iii. Borrower and Substitute Indemnitor shall perform all the
               respective obligations imposed under the Note, Mortgage,
               Indemnity Agreement, Environmental Indemnity Agreement and all
               other Loan Documents, all as modified hereby;

          iv.  Borrower shall not hereafter, without Lender's prior consent in
               accordance with the terms of the Loan Documents, further encumber
               the Property or sell or transfer the Property or any interest
               therein, except as may be specifically permitted in the Loan
               Documents;

     c.   Substitute Obligors understand and intend that Lender shall rely on
          the representations, warranties and covenants contained herein.

     4. CONSENT AND REAFFIRMATION OF BORROWER.

     a.   Borrower hereby represents and warrants to Lender that it has reviewed
          the Purchase Agreement, this Agreement, and all the documents executed
          in accordance therewith or herewith. Borrower consents to the Transfer
          and to the Substitution under the terms of the Purchase Agreement and
          this Agreement.

                                        7
<PAGE>
          Borrower further covenants and agrees that the Transfer and the
          Substitution shall not, and shall not be deemed to, impair, limit,
          abrogate or reduce in any manner or to any extent the liability or
          obligations of the Borrower under the Loan Documents.

     b.   Borrower hereby renews, reaffirms, ratifies and confirms the Note, the
          Mortgage and the other Loan Documents and acknowledges and agrees that
          the Loan Documents remain in full force and effect without impairment
          and without modification (except as specifically provided herein), and
          that no rights or remedies of Lender under the Loan Documents have
          been waived. Borrower reaffirms the truth and accuracy of all
          representations and warranties made by Borrower in the Loan Documents
          as if made on the date hereof.

     c.   Borrower agrees to continue to pay, perform, and discharge each and
          every obligation of payment and performance under, pursuant to and as
          set forth in the Note, the Mortgage, the Environmental Indemnity
          Agreement, and the other Loan Documents at the time, in the manner and
          otherwise in all respects as therein provided.

     d.   Borrower hereby acknowledges, agrees and warrants that (i) there are
          no rights of set-off or counterclaim, nor any defenses of any kind,
          whether legal, equitable or otherwise, which would enable Borrower to
          avoid or delay timely performance of its obligations under the Note,
          Mortgage, Indemnity Agreement, Environmental Indemnity Agreement, or
          any of the Loan Documents, as applicable; (ii) there are no monetary
          encumbrances or liens of any kind or nature against the Property
          except those created by the Loan Documents; and (iii) all rights,
          priorities, titles, liens and equities securing the payment of the
          Note are expressly recognized as valid and are in all things renewed,
          continued and preserved in force to secure payment of the Note, except
          as amended herein.

     5. ASSUMPTION OF OBLIGATIONS BY SUBSTITUTE INDEMNITOR.

          a. From and after the date of this Agreement, the Substitute
Indemnitor shall be obligated and responsible for the performance of each and
all of the obligations and agreements of the Original Indemnitor under the Loan
and the Loan Documents, including, without limitation, the Indemnity Agreement
and the Environmental Indemnity Agreement, and the Substitute Indemnitor shall
be liable and responsible for each and all of the liabilities of the Original
Indemnitor thereunder, as fully and completely as if the Substitute Indemnitor
had originally executed and delivered the Loan Documents as the Indemnitor
thereunder, including, without limitation, all of those obligations, agreements
and liabilities which would have, but for the provisions of this Agreement, been
the obligations, agreements and liabilities of the Original Indemnitor, without
regard to when such obligations, agreements and liabilities arise, accrue or
have arisen or accrued, and without regard to the Original Indemnitor then
responsible or liable therefor at the time of such accrual. From and after the
date hereof, the Substitute Indemnitor further agrees to abide by and be bound
by all of the terms of the Loan Documents having reference to the Original
Indemnitor, all as though each of the Loan Documents had been made,

                                        8
<PAGE>
executed, and delivered by the Substitute Indemnitor as the Original Indemnitor.
From and after the date hereof, the Substitute Indemnitor hereby agrees to pay,
perform, and discharge each and every obligation of payment and performance of
the Original Indemnitor under, pursuant to and as set forth in the Loan
Documents at the time, in the manner and otherwise in all respects as therein
provided.

          b. The Substitute Indemnitor acknowledges and agrees that following
the Transfer it will be an affiliate of the Borrower and will derive substantial
economic benefit from the Lender's agreement to consent to the Transfer and that
there is adequate consideration for the Substitution. The Substitute Indemnitor
acknowledges that the Lender would not consent to the Transfer without the
agreement of Substitute Indemnitor to execute and deliver this Agreement as
substitute indemnitor.

          c. The Substitute Indemnitor acknowledges and agrees that it has
received and reviewed (i) that certain Phase I Environmental Site Assessment for
Mission Bay Plaza, dated August 10, 2004, by URS Corporation, and (ii) that
certain Phase II Environmental Site Assessment for the Mission Bay Plaza
Property, dated August 18, 2004, by URS Corporation (collectively, the
"ENVIRONMENTAL REPORTS"). The Substitute Indemnitor understands, acknowledges
and agrees that, pursuant to the substitution of the Substitute Indemnitor for
the Original Indemnitor in Paragraph 5(a) above, the Substitute Indemnitor shall
be liable and responsible for each and all of the liabilities at the Property,
including those environmental concerns addressed in the Environmental Reports,
in accordance with the terms of the Environmental Indemnity Agreement.

     6. CONSENT.

     (a) Subject to the terms and conditions set forth in this Agreement, Lender
consents to the Transfer, subject to the Mortgage and the other Loan Documents.
Lender's consent to the Transfer shall, however, not constitute its consent to
any subsequent transfers of the Property or any interest therein (as defined in
the Mortgage).

     (b) Lender hereby consents to the Original Principal filing the Certificate
of Amendment of Certificate of Incorporation of NWC Glades 441, Inc. with the
Secretary of State of the State of Delaware in connection with the Transfer and
conforming changes to the by-laws of that corporation. Lender's consent herein
shall not constitute its consent to any other previous amendment or
modifications of the Original Principal Organizational Documents made without
the Lender's explicit consent.

     (c) Lender hereby consents to the First Amendment to Operating Agreement of
Boca Mission, LLC. Lender's consent herein shall not constitute its consent to
any other previous or future amendments or modifications of the Borrower
Organizational Documents.

     7. CONSENT TO SUBSTITUTION AND RELEASE OF ORIGINAL INDEMNITOR.  Subject to
the terms and conditions set forth in this Agreement, Lender consents to the
Substitution. From and after the date of this Agreement, the Original Indemnitor
shall, with respect only to those matters first arising or accruing after the
date of this Agreement, be fully released of their liability as the

                                        9
<PAGE>
Indemnitor under the Loan Documents, including without limitation, the Indemnity
Agreement and Environmental Indemnity Agreement, and the Substitute Indemnitor
shall be substituted, in each and every respect, for the Original Indemnitor, in
lieu of and in place of the Original Indemnitor with respect to each and every
reference to the Indemnitor, in the Loan Documents, including without
limitation, the Indemnity Agreement and Environmental Indemnity Agreement. The
Original Indemnitor hereby acknowledges and agrees that the release set forth
herein shall not be construed to release the Original Indemnitor from any
liability under any of the Loan Documents, including, without limitation, the
Indemnity Agreement and Environmental Indemnity Agreement, for any acts or
events occurring or obligations arising prior to or upon the date of this
Agreement, whether or not such acts, events or obligations are, as of the date
of this Agreement known or ascertainable.

     8. NOTICES TO BORROWER AND INDEMNITOR.  Without amending, modifying or
otherwise affecting the provisions of the Loan Documents except as expressly set
forth herein, the Lender shall, from and after the date of this Agreement,
deliver any notices to the Borrower and/or "Indemnitor" which are required to be
delivered pursuant to the Loan Documents, or are otherwise delivered by the
Lender thereunder at Lender's sole discretion, to the Borrower's and/or
Substitute Indemnitor's addresses set forth above, as applicable. In addition,
all references to the address of the Borrower and all references to the
"Indemnitor" or to the address of "Indemnitor" in the Loan Documents are hereby
modified to refer to the Borrower's and/or Substitute Indemnitor's addresses set
forth above, as applicable. Any reference to the Borrower's address or primary
place of business shall be references to the Borrower's address set forth above.

     9. RELEASE AND COVENANT NOT TO SUE.  Borrower, Original Obligors and
Substitute Obligors, on behalf of themselves and their heirs, successors and
assigns, hereby release and forever discharge Lender, Original Lender, each of
their predecessors in interest and their successors and assigns, together with
any officers, directors, partners, employees, investors, certificate holders and
agents (including, without limitation, servicers of the loan) of each of the
foregoing (collectively the "LENDER PARTIES"), from all debts, accountings,
bonds, warranties, representations, covenants, promises, contracts,
controversies, agreements, claims, damages, judgments, executions, actions,
inactions, liabilities demands or causes of action of any nature, at law or in
equity, known or unknown, which Borrower, Original Obligors and/or Substitute
Obligors now have by reason of any cause, matter, or thing through and including
the date hereof, arising out of or relating to: (a) the Loan, including, without
limitation, its funding, administration and servicing; (b) the Loan Documents;
(c) the Property; (d) any reserve and/or escrow balances held by Lender or any
servicers of the Loan; (e) the Transfer and/or Substitution; and (f) any other
disclosed agreement or transaction between Borrower, Original Obligors and/or
Substitute Obligors and the Lender Parties relating to the Property or the Loan.
Borrower, Original Obligors and Substitute Obligors, on behalf of themselves and
their heirs, successors and assigns, covenant and agree never to institute or
cause to be instituted or continue prosecution of any suit or other form of
action or proceeding of any kind or nature whatsoever against any of the Lender
Parties by reason of or in connection with any of the foregoing matters, claims
or causes of action.

                                       10
<PAGE>
     10. ACKNOWLEDGMENT OF INDEBTEDNESS.  This Agreement recognizes the
reduction of the principal amount of the Note and the payment of interest
thereon to the extent of payments made by Borrower prior to the date of
execution of this Agreement. The parties acknowledge and agree that, as of the
date of this Agreement, the unpaid principal balance of the Note is
$40,500,000.00 and interest on the Note is paid to August 10, 2004. Borrower,
Substitute Indemnitor and Substitute Principal acknowledge and agree that the
Loan, as evidenced and secured by the Loan Documents, is a valid and existing
indebtedness payable by Borrower to Lender. The parties acknowledge that Lender
is holding the following escrow and/or reserve balances:

<TABLE>
<S>                                    <C>
               Tax Escrow:             $572,775.10
               Insurance Escrow:       $ 10,063.79
               Replacement Reserve:    $ 54,703.55
               Tenant Improvement/
                  Leasing Commission
                  Reserve:             $ 41,559.46
</TABLE>

     The parties acknowledge and agree that Lender shall continue to hold the
escrow and reserve balances for the benefit of Borrower in accordance with the
terms of the Loan Documents. Original Obligors covenant and agree that the
Lender Parties have no further duty or obligation of any nature to Original
Obligors relating to such escrow and/or reserve balances. Original Obligors
hereby release and forever discharge the Lender Parties from any obligations to
Original Obligors relating to such escrow and/or reserve balances. Borrower and
Substitute Obligors acknowledge and agree that the funds listed above constitute
all of the reserve and escrow funds currently held by Lender with respect to the
Loan and authorize Lender to continue to hold such funds in an account
controlled by Lender for the benefit of Lender and Borrower.

     The parties further acknowledge and agree that Lender shall direct the
Deposit Bank (as defined in the Cash Management Agreement) to continue to hold
and manage the accounts established pursuant to the Cash Management Agreement
for the benefit of Borrower in accordance with the terms thereof. Original
Obligors covenant and agree that the Deposit Bank and Lender Parties have no
further duty or obligation of any nature to Original Obligors relating to such
accounts. Original Obligors hereby release and forever discharge the Deposit
Bank and Lender Parties from any obligations to Original Obligors relating to
such accounts.

     Lender hereby represents and warrants to Substitute Obligors and Original
Obligors that, to the "actual knowledge of Lender" as of the date hereof, (i) no
Default or event of Default has occurred and is continuing and (ii) the Loan
Documents are in full force and effect and the Loan Documents listed in Recital
A above constitute all of the material documents that evidence and secure the
Loan and such documents have not been amended except as described in this
Agreement. For purposes of this paragraph, the "actual knowledge of Lender"
shall mean the actual knowledge of employees of the Commercial Real Estate
Services Group of Wachovia Bank, National Association ("WB") actively involved
with the transactions described herein or with the servicing of the Loan without
any independent inquiry or investigation. The "actual knowledge of Lender" shall
not include knowledge imputed from other Lender Parties or other groups or
employees of WB not actively involved in servicing the Loan. Lender reserves the

                                       11
<PAGE>
right to declare any existing Default or Event of Default which subsequently
comes to the attention of Lender.

     11. INTEREST ACCRUAL RATE AND MONTHLY INSTALLMENT PAYMENT AMOUNT TO REMAIN
THE SAME.  The parties acknowledge and agree that the interest rate and the
monthly payments set forth in the Note shall remain unchanged. Prior to the
occurrence of an Event of Default hereunder or under the Loan Documents,
interest shall accrue on the principal balance outstanding from time to time at
the interest rate(s) set forth in the Note (which does not include such amounts
as may be required to fund the escrow and reserve obligations under the terms of
the Loan Documents) shall continue to be paid in accordance with the terms of
the Note.

     12. MODIFICATIONS TO LOAN DOCUMENTS.  The Loan Documents are modified as
set forth below:

     (a) Article 14(e) of the Note is hereby modified to delete "Investcorp
International Inc." and insert in its stead "Ramco-Gershenson Properties, L.P.".

     (b) Notwithstanding anything to the contrary in the Loan Documents and
Article 17 of the Note, the Borrower hereby initially and irrevocably designates
CT Corporation, with offices in the date hereof at 111 Eighth Avenue, New York,
New York 10011, to receive for and on behalf of Borrower service of process in
New York, New York with respect to the Note.

     (c) Section 3.16 of the Mortgage is hereby amended by deleting "Gumberg
Property Investors, Inc." and inserting in its stead "Ramco-Gershenson, Inc.".

     (d) Notwithstanding anything to the contrary in Section 3.11(a)(iv) of the
Mortgage, so long as the Ramco-Gershenson Properties Trust, a Maryland real
estate investment trust (the "TRUST"), is the general partner of
Ramco-Gershenson Properties, L.P., a Delaware limited partnership, any financial
information with respect to the Guarantor or Indemnitor (each as defined in the
Mortgage) required by Section 3.11(a)(iv) shall be satisfied if the financial
information is provided with respect to the Trust.

     (e) Section 4.2(i), (i) and (ii) are hereby modified in that the Borrower's
financial statements may be consolidated with the financial statements of the
Trust in accordance with generally accepted accounting procedures then in effect
in the United States of America from time to time ("GAAP").

     (f) Section 4.2(y) of the Mortgage is hereby amended as follows:

     "Investcorp Properties Limited" shall be deleted and "Ramco-Gershenson
Properties, L.P., a Delaware limited partnership" shall be inserted in its
stead.

     (g) Section 5.4 of the Mortgage is hereby deleted and the following
inserted in its stead: "There is no action, suit or proceeding, judicial,
administrative or otherwise (including any condemnation or similar proceedings),
pending or, to the best of Borrower's knowledge, threatened or contemplated
against, or affecting (i) the Property, or (ii) Borrower. There is no

                                       12
<PAGE>
action, suit or proceeding, judicial, administrative or otherwise (including any
condemnation or similar proceedings), pending or, to the best of Borrower's
knowledge, threatened or contemplated against, or affecting Guarantor, if any,
or Indemnitor, if any, that would have a material adverse effect on the
condition (financial or otherwise) of the business, prospects, operations,
assets or properties of Guarantor or Indemnitor."

     (h) Section 8.3 of the Mortgage is hereby amended as follows:

          (i) "Investcorp International Inc. ("INVESTCORP")" shall be deleted
and "Ramco-Gershenson Properties Trust, a Maryland real estate investment trust"
shall be inserted in its stead.

          (ii) The following shall be added as the last sentence of Section 8.3:

     "Notwithstanding anything to the contrary in Section 8.1, Section 8.2 or
Section 8.3, the Borrower shall not need to deliver to Lender written notice,
pursuant to Section 8.3, of (i) transfers of stock in the Trust, so long as
shares of the Trust are publicly traded on the New York Stock Exchange, and (ii)
transfers of the limited partnership interests in Ramco-Gershenson Properties,
L.P., so long as the Trust continues to owns 51% of Ramco-Gershenson Properties,
L.P., to be a general partner of Ramco-Gershenson Properties, L.P., and controls
the day to day operations of Ramco-Gershenson Properties, L.P."

     (i) Section 10.1(i) of the Mortgage is hereby amended and the following
substituted in its stead:

          "(i) if any federal tax lien is filed against Borrower, any member or
general partner of Borrower, any Guarantor, any Indemnitor or Borrower's
interest in the Property and the same is not discharged within thirty (30) days
after the same is filed; provided, however, the filing of a federal tax lien
shall not be an event of default if (a) any such federal tax lien is being
diligently contested in good faith by appropriate proceedings, (b) such
proceedings shall suspend the collection and/or effect of the federal tax lien,
(c) adequate reserves in accordance with GAAP shall be set aside on the books of
the Borrower, the member or general partner of Borrower, the Guarantor, or
Indemnitor, as applicable, and (d) within thirty (30) days after the lien is
filed, Borrower shall provide written notice to Lender (i) explaining the basis
for any contest, (ii) outlining the applicable proceedings, and (iii)
demonstrating the existence of adequate reserves."

     (j) Section 16.1 of the Mortgage is hereby deleted in its entirety and the
following substituted in its stead:

     "Section 16.1. Notices.  All notices, demands, requests or other written
communications hereunder or required by law shall be in writing and shall be
deemed to have been validly given or served by delivery of the same in person to
the intended addressee, or by depositing the same with Federal Express or
another reputable private courier service for next business day delivery, or by
depositing the same in the United States mail, postage prepaid, registered or
certified mail, return receipt requested, in any event addressed to the intended
addressee addressed as follows:

                                       13
<PAGE>
     If to Borrower: Boca Mission, LLC
                     31500 Northwestern Highway
                     Suite 300
                     Farmington Hills, Michigan 48334

     With a copy to: Alan Hurvitz, Esq.
                     Honigman Miller Schwartz and Cohn
                     32270 Telegraph Road
                     Suite 225
                     Bingham Farms, MI 48025-2457

     If to Lender:   LaSalle Bank National Association, as Trustee for the
                     Registered Holders of LB-UBS Commercial Mortgage
                     Trust 2003-C5, Commercial Mortgage Pass-Through
                     Certificates, Series 2003-C5
                     c/o Wachovia Securities, Structured Products Servicing
                     8739 Research Drive-URP4
                     Charlotte, NC 28288-1075 (28262-1075 for
                     overnight deliveries)

     With a copy to: Parker, Poe, Adams & Bernstein L.L.P.
                     Three Wachovia Center
                     401 South Tryon Street, Suite 3000
                     Charlotte, NC 28202-1935
                     Attn: James A. L. Daniel, Jr. Esq.

     All notices, demands and requests shall be effective (i) upon delivery, if
delivered in person, (ii) one (1) business day after having been deposited for
overnight delivery with any reputable overnight courier service, or (iii) three
(3) business days after having been deposited in the United States mail as
provided above. Rejection or other refusal to accept or the inability to deliver
because of changed address of which no notice was given as herein required shall
be deemed to be receipt of the notice, demand or request sent. By giving to the
other party hereto at least fifteen (15) days' prior written notice thereof in
accordance with the provisions hereof, the parties hereto shall have the right
from time to time to change their respective addresses and each shall have the
right to specify as its address any other address within the United States of
America."

     (j) Section 19.2 of the Mortgage is hereby deleted.

     13. NO OTHER MODIFICATIONS OF THE LOAN DOCUMENTS.  Except as specifically
provided for herein, the parties acknowledge and agree that the Transfer and
Substitution will not result in any modifications to the Loan Documents.

     14. CONDITIONS.  This Agreement shall be of no force and effect until each
of the following conditions has been met to the complete satisfaction of Lender:

                                       14
<PAGE>
     a.   Fees and Expenses.  Borrower shall pay, or cause to be paid: (i) all
          costs and expenses incident to the preparation and execution hereof
          and the consummation of the transactions contemplated hereby,
          including reasonable legal fees of the Lender's counsel and (ii) a
          transfer fee to Lender in the amount of $303,750.00, being 0.75% of
          the outstanding principal balance of the Note as of the date of the
          Transfer and all other fees listed in the conditional approval letter
          dated August 17, 2004.

     b.   Other Conditions.  Satisfaction of all requirements under the Loan
          Documents and the closing checklist for this transaction as determined
          by Lender and Lender's counsel in their sole discretion.

     15. DEFAULT.

     a.   Breach.  Any breach by Borrower, and/or Substitute Obligors of the
          representations and warranties contained herein shall constitute a
          default under the Mortgage and each other Loan Document. Any breach by
          Original Obligors of the representations and warranties contained
          herein shall constitute a default under this Agreement.

     b.   Failure to Comply.  Any failure by Borrower and/or Substitute Obligors
          to fulfill any one of the conditions set forth in this Agreement shall
          constitute a default under this Agreement and the Loan Documents. Any
          failure by Original Obligors to fulfill any of the conditions set
          forth in this Agreement shall constitute a default under this
          Agreement.

     16. ADDITIONAL REPRESENTATIONS, WARRANTIES AND COVENANTS OF BORROWER AND
SUBSTITUTE OBLIGORS.  As a condition of this Agreement, Borrower and Substitute
Obligors represent and warrant to Lender as follows:

     a.   Borrower is a limited liability company duly organized and validly
          existing under the laws of the State of Delaware and is qualified to
          do business and in good standing in the State of Florida. Borrower has
          full power and authority to enter into and carry out the terms of this
          Agreement and to continue to carry out the terms of the Loan
          Documents.

     b.   Substitute Indemnitor is a limited partnership duly organized and
          validly existing and in good standing under the laws of the State of
          Delaware. Substitute Indemnitor has full power and authority to enter
          into and carry out the terms of this Agreement and to assume the
          obligations of the Original Indemnitor under the Loan Documents.

     c.   Purchaser is a limited partnership duly organized and validly existing
          and in good standing under the laws of the State of Delaware.
          Purchaser has full power and authority to enter into and carry out the
          terms of this Agreement and to own its Transferred Ownership
          Interests.

                                       15
<PAGE>
     d.   Substitute Principal is a corporation duly organized and validly
          existing in good standing under the laws of the State of Delaware and
          is authorized to transact business as a foreign corporation in each
          jurisdiction in which such authorization is necessary for the
          operation of the business or properties of Borrower. Substitute
          Principal has full power and authority to enter into this Agreement on
          its own behalf and to execute this Agreement. Substitute Principal has
          full power and authority to own its Transferred Ownership Interests
          and the Transferred Management Interests.

     e.   This Agreement constitutes the legal, valid and binding obligations of
          Borrower and Substitute Obligors enforceable in accordance with its
          terms. Neither the entry into nor the performance of and compliance
          with this Agreement has resulted or will result in any violation of,
          or a conflict with or a default under, any judgment, decree, order,
          mortgage, indenture, contract, agreement or lease by which Borrower or
          Substitute Obligors or any property of Borrower or Substitute Obligors
          are bound or any statute, rule or regulation applicable to Borrower or
          to Substitute Obligors.

     f.   The Loan Documents constitute the legal, valid and binding obligations
          of Borrower and Substitute Indemnitor, as applicable, enforceable in
          accordance with their terms. Neither the entry into nor the
          performance of and compliance with any of the Loan Documents has
          resulted or will result in any violation of, or a conflict with or a
          default under, any judgment, decree, order, mortgage, indenture,
          contract, agreement or lease by which Borrower or Substitute
          Indemnitor or any property of Borrower or Substitute Indemnitor are
          bound or any statute, rule or regulation applicable to Borrower or
          Substitute Indemnitor.

     g.   Neither the execution of this Agreement nor the assumption and
          performance of the obligations hereunder has resulted or will result
          in any violation of, or a conflict with or a default under, any
          judgment, decree, order, mortgage, indenture, contract, agreement or
          lease by which the Borrower or Substitute Obligors or any property of
          Borrower or Substitute Obligors are bound or any statute, rule or
          regulation applicable to the Borrower or the Substitute Obligors.

     h.   There is no action, proceeding or investigation pending or threatened
          which questions, directly or indirectly, the validity or
          enforceability of this Agreement or any of the other Loan Documents,
          or any action taken or to be taken pursuant hereto or thereto, or
          which might result in any material adverse change in the condition
          (financial or otherwise) or business of Borrower or Substitute
          Obligors.

     i.   There has been no legislative action, regulatory change, revocation of
          license or right to do business, fire, explosion, flood, drought,
          windstorm, earthquake, accident, other casualty or act of God, labor
          trouble, riot, civil commotion, condemnation or other action or event
          which has had any material adverse effect, on the business or
          condition (financial or otherwise) of Substitute Obligors or any

                                       16
<PAGE>
          of their properties or assets, whether insured against or not, since
          Substitute Obligors submitted to Lender their request for the
          Transfer.

     j.   The financial statements and other data and information supplied by
          Substitute Obligors in connection with Substitute Obligors' request
          for the Transfer or otherwise supplied in contemplation of Transfer
          were in all material respects true and correct on the dates they were
          supplied, and since their dates no material adverse change in the
          financial condition of Substitute Obligors has occurred, and there is
          not any pending or threatened litigation or proceedings which might
          impair to a material extent the business or financial condition of
          Substitute Obligors.

     k.   Borrower and Substitute Indemnitor hereby specifically remake and
          reaffirm the representations, warranties and covenants set forth in
          the Mortgage, the Indemnity Agreement, the Environmental Indemnity
          Agreement and the other Loan Documents.

     l.   Borrower hereby represents and warrants to Lender that Borrower will
          not permit the transfer of any interest in Borrower to any person or
          entity (or any beneficial owner of such entity) who is listed on the
          specifically Designated Nationals and Blocked Persons List maintained
          by the Office of Foreign Asset Control, Department of the Treasury
          pursuant to Executive Order No. 13224, 66 Fed. Reg. 49079 (Sept. 25,
          2001) an/or any other list of terrorists or terrorist organizations
          maintained pursuant to any of the rules and regulations of Office of
          Foreign Asset Control, Department of the Treasury or pursuant to any
          other applicable Executive Orders (such lists are collectively
          referred to as the "OFAC LISTS"). Borrower will not knowingly enter
          into a lease with any party who is listed on the OFAC Lists. Borrower
          shall immediately notify Lender if Borrower has knowledge that any
          member of beneficial owner of Borrower is listed on the OFAC Lists of
          (A) is indicted on or (B) arraigned and held over on charges involving
          money laundering or predicate crimes to money laundering. Borrower
          shall immediately notify Lender if Borrower knows that any tenant is
          listed on the OFAC Lists or (A) is convicted on, (B) pleads nolo
          contender to, (C) is indicted on or (D) is arraigned and held over on
          charges involving money laundering or predicate crimes to money
          laundering. Borrower further represents and warrants to Lender that
          Borrower is currently not on the OFAC list.

     m.   To the knowledge of Borrower and Substitute Obligors, no
          representation or warranty of Borrower or Substitute Obligors made in
          this Agreement contains any untrue statement of material fact or omits
          to state a material fact necessary in order to make such
          representations and warranties not misleading in light of the
          circumstances under which they are made.

Any breach of Borrower or Substitute Obligors of any of the representations and
warranties shall constitute an Event of Default under the Mortgage and each
other Loan Document.

                                       17
<PAGE>
     17. ADDITIONAL REPRESENTATIONS, WARRANTIES AND COVENANTS OF ORIGINAL
OBLIGORS.  As a condition of this Agreement, Original Obligors represent and
warrant to Lender as follows:

     a.   Diversified represents and warrants to Lender that Diversified is a
          limited liability company duly organized and validly existing and in
          good standing in the State of Delaware. Diversified has full power and
          authority to enter into and carry out the terms of this Agreement and
          to carry out the Transfer.

     b.   Original Indemnitor represents and warrants to Lender that Original
          Indemnitor is a limited liability company duly organized and validly
          existing under the laws of the State of Delaware. Original Indemnitor
          has full power and authority to enter into and carry out the terms of
          this Agreement.

     c.   Original Principal represents and warrants to Lender that Original
          Principal is a corporation duly organized and validly existing in good
          standing under the laws of the State of Delaware and is authorized to
          transact business as a foreign corporation in each jurisdiction in
          which such authorization is necessary for the operation of the
          business or properties of Borrower. Original Principal and has full
          power and authority to enter into this Agreement on its own behalf and
          to execute this Agreement.

     d.   This Agreement, the Purchase Agreement and all other documents
          executed by Original Obligors in connection therewith and herewith,
          constitute legal, valid and binding obligations of Original Obligors
          enforceable in accordance with their respective terms. Neither the
          entry into nor the performance of and compliance with this Agreement,
          the Purchase Agreement or the other documents executed by Original
          Obligors in connection therewith or herewith has resulted or will
          result in any violation of, or a conflict with or a default under, any
          judgment, decree, order, mortgage, indenture, contract, agreement or
          lease by which Original Obligors or any property of Original Obligors
          are bound or any statute, rule or regulation applicable to Original
          Obligors.

     e.   Original Principal has not received any written notices from any
          governmental entity claiming that Original Obligors, the Borrower or
          the Property is not presently in compliance with any laws, ordinances,
          rules, and regulations bearing upon the use and operation of the
          Property, including, without limitation, any notice relating to zoning
          laws or building code regulations, except as disclosed to Lender in
          writing.

     f.   The Original Principal hereby represents and warrants the following to
          Lender: The Rent Roll provided to Lender and certified as of the date
          hereof, is a true, complete and accurate summary of all tenant leases
          ("TENANT LEASES" or individually a "TENANT LEASE") affecting the
          Property as of the date of this Agreement. No rent has been prepaid
          under any Tenant Lease except rent for the current month. To the
          actual knowledge of Original Principal, each Tenant Lease has been
          duly executed and delivered by, and is a binding obligation of, the

                                       18
<PAGE>
          respective tenant, and each Tenant Lease is in full force and effect.
          Each Tenant Lease represents the entire agreement between the landlord
          and the respective tenant and no Tenant Lease has been terminated,
          renewed, amended, modified or otherwise changed without obtaining any
          prior written consent of Lender as required by the Loan Documents. The
          tenant under each Tenant Lease has taken possession of and is in
          occupancy of the premises therein described and is open for business
          (other than Eastern Financial and as shown on the Rent Roll). Rent
          payments have commenced under each Tenant Lease, and all tenant
          improvements in such premises and other conditions to occupancy and/or
          rent commencement have been completed by Landlord. To the actual
          knowledge of Original Principal, all obligations of the landlord under
          the Tenant Leases have been performed, and no event has occurred and
          no condition exists that, with the giving of notice or lapse of time
          or both, would constitute a default by Landlord under any Tenant
          Lease. To the actual knowledge of Original Principal, there are no
          offsets or defenses that any tenant has against the full enforcement
          of any Tenant Lease by the landlord thereunder. Each Tenant Lease is
          fully and freely assignable by the landlord without notice to or the
          consent of the tenant thereunder.

     g.   Borrower and Original Principal represent and warrant to Lender that
          Borrower is the current owner of the Property and there are no pending
          or, to Original Principal's actual knowledge, threatened suits,
          judgments, arbitration proceeding, administrative claims, executions
          or other legal or equitable actions or proceedings against Original
          Obligors, Borrower or the Property, or any pending or threatened
          condemnation or annexation proceedings affecting the Property, or any
          agreements to convey any portion of the Property, or any rights
          thereto, not disclosed in this Agreement, including, without
          limitation to any governmental agency.

     h.   No representation or warranty of Original Obligors made in this
          Agreement contains any untrue statement of material fact or omits to
          state a material fact necessary in order to make such representations
          and warranties not misleading in light of the circumstances under
          which they are made.

     18. NO FURTHER CONSENTS.  Borrower, Substitute Indemnitor, Substitute
Principal, and Purchaser acknowledge and agree that Lender's consent herein
contained is expressly limited to the Transfer and Substitution, as herein
described, that such consents shall not waive or render unnecessary Lender's
consent or approval of any subsequent sale, conveyance, assignment or transfer
of the Property or any interest therein, or any future substitution of
indemnitor, and that Section 8.1 of the Mortgage shall continue in full force
and effect.

     19. INCORPORATION OF RECITALS.  Each of the Recitals set forth above in
this Agreement are incorporated herein and made a part hereof.

     20. PROPERTY REMAINS AS SECURITY FOR LENDER.  All of the Property as
described and defined in the Mortgage shall remain in all respects subject to
the lien, charge or encumbrance of

                                       19
<PAGE>
the Mortgage, and, nothing herein contained and nothing done pursuant hereto
shall affect or be construed to release or affect the liability of any party or
parties who may now or hereafter be liable under or on account of the Note or
the Mortgage, nor shall anything herein contained or done in pursuance hereof
affect or be construed to affect any other security for the Note, if any, held
by Lender.

     21. NO WAIVER BY LENDER.  Nothing contained herein shall be deemed a waiver
of any of Lender's rights or remedies under any loan agreement, the Note, the
Mortgage, any of the other Loan Documents, or under applicable law.

     22. CAPTIONS.  The headings to the Sections of this Agreement have been
inserted for convenience of reference only and shall in no way modify or
restrict any provisions hereof or be used to construe any such provisions.

     23. PARTIAL INVALIDITY.  If any provision of this Agreement is held to be
illegal, invalid or unenforceable under present or future laws, such provision
shall be fully severable, and this Agreement shall be construed and enforced as
if such illegal, invalid or unenforceable provision had never comprised a part
of this Agreement.

     24. ENTIRE AGREEMENT.  This Agreement and the documents contemplated to be
executed herewith constitutes the entire agreement among the parties hereto with
respect to the Transfer and Substitution and shall not be amended unless such
amendment is in writing and executed by each of the parties. The Agreement
supersedes all prior negotiations regarding the subject matter hereof. This
Agreement may not be amended, revised, waived, discharged, released or
terminated orally, but only by a written instrument or instruments executed by
the party against which enforcement of the amendment, revision, waiver,
discharge, release or termination is asserted. Any alleged amendment, revision,
waiver, discharge, release or termination which is not so documented shall not
be effective as to any party.

     25. BINDING EFFECT.  This Agreement and the documents contemplated to be
executed in connection herewith shall be binding upon and inure to the benefit
of the parties hereto and their respective successors and assigns; provided,
however, that the foregoing provisions of this Section shall not be deemed to be
a consent by Lender to any further sale, conveyance, assignment or transfer of
the Property or any interest therein (as defined in the Mortgage).

     26. MULTIPLE COUNTERPARTS.  This Agreement may be executed in multiple
counterparts, each of which will be an original, but all of which, taken
together, will constitute one and the same Agreement.

     27. GOVERNING LAW.  This Agreement shall be governed, construed, applied
and enforced in accordance with the laws of the State of Florida.

     28. EFFECTIVE DATE.  This Agreement shall be effective as of the date of
its execution by the parties hereto and thereupon is incorporated into the terms
of the Loan Documents.

                                       20
<PAGE>
     29. TIME OF ESSENCE.  Time is of the essence with respect to all provisions
of this Agreement.

     30. CUMULATIVE REMEDIES.  All remedies contained in this Agreement are
cumulative and Lender shall also have all other remedies provided at law and in
equity or in the Mortgage and other Loan Documents. Such remedies may be pursued
separately, successively or concurrently at the sole subjective direction of
Lender and may be exercised in any order and as often as occasion therefor shall
arise.

     31. CONSTRUCTION.  Each party hereto acknowledges that it has participated
in the negotiation of this Agreement and that no provision shall be construed
against or interpreted to the disadvantage of any party. Each of the parties has
had sufficient time to review this Agreement, have been represented by legal
counsel at all times, have entered into this Agreement voluntarily and without
fraud, duress, undue influence or coercion of any kind. No representations or
warranties have been made by Lender to any party except as set forth in this
Agreement.

     32. REPRESENTATIONS AND WARRANTIES MADE BY ORIGINAL OBLIGORS.  The
representations and warranties made by Original Obligors herein are made solely
to and for the benefit of Lender, its successors and assigns, and neither
Purchaser nor any other party shall be deemed a third party beneficiary of such
representations and warranties.

                         [SEE ATTACHED SIGNATURE PAGES]

                                       21
<PAGE>
     IN WITNESS WHEREOF, the parties hereto have executed this Agreement to be
effective as of the date first aforesaid.

     BORROWER:   BOCA MISSION, LLC,
                 a Delaware limited liability company

                 By: /s/ Dennis Gershenson
                     --------------------------------------------
                 Name: Dennis Gershenson
                 Title: President

     SUBSTITUTE: RAMCO BOCA SPC, INC.,
     PRINCIPAL   a Delaware corporation

                 By: /s/ Dennis Gershenson
                     --------------------------------------------
                 Name: Dennis Gershenson
                 Title: President

                                       22
<PAGE>
     SUBSTITUTE
     INDEMNITOR: RAMCO - GERSHENSON PROPERTIES, L.P.,
                 a Delaware limited partnership

                 By: RAMCO-GERSHENSON PROPERTIES TRUST,
                     a Maryland real estate investment trust
                 Its: General Partner

                 By: /s/ Dennis Gershenson
                     --------------------------------------------
                 Name: Dennis Gershenson
                 Title: President

     PURCHASER:  RAMCO - GERSHENSON PROPERTIES, L.P.,
                 a Delaware limited partnership

                 By: RAMCO-GERSHENSON PROPERTIES TRUST,
                     a Maryland real estate investment trust
                 Its: General Partner

                 By: /s/ Dennis Gershenson
                     --------------------------------------------
                 Name: Dennis Gershenson
                 Title: President

                                       23
<PAGE>
     ORIGINAL
     PRINCIPAL:  NWC GLADES 441, INC.,
                 a Delaware corporation

                 By: /s/ F. Jonathan Dracos
                     --------------------------------------------
                 Name: F. Jonathan Dracos
                 Title: Vice President

     ORIGINAL
     INDEMNITOR: INVESTCORP PROPERTIES LIMITED,
                 a Delaware corporation

                 By: /s/ F. Jonathan Dracos
                     --------------------------------------------
                 Name: F. Jonathan Dracos
                 Title: Vice President

     SELLER:     DIVERSIFIED INVEST II, LLC,
                 a Delaware limited liability company

                 By: /s/ F. Jonathan Dracos
                     --------------------------------------------
                 Name: F. Jonathan Dracos
                 Title: Vice President

                                       24
<PAGE>
     LENDER: LASALLE BANK NATIONAL ASSOCIATION, AS TRUSTEE FOR THE REGISTERED
             HOLDERS OF LB-UBS COMMERCIAL MORTGAGE TRUST 2003-C5, COMMERCIAL
             MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2003-C5

             By: WACHOVIA BANK, NATIONAL ASSOCIATION, solely in its capacity as
                 Master Servicer, as authorized pursuant to that Pooling and
                 Servicing Agreement dated July 11, 2003

                 By: /s/ Greg Blake
                     --------------------------------------------
                 Name: Greg Blake
                 Title: Vice President

                                       25

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