Document:

EX-10.1

AGREEMENT FOR PURCHASE AND SALE

OF REAL PROPERTY AND ESCROW INSTRUCTIONS

THIS AGREEMENT FOR PURCHASE AND SALE OF REAL PROPERTY AND ESCROW INSTRUCTIONS (“Agreement”) between
TREIT — Titan Plaza, L.P., a Virginia limited partnership, NNN TITAN 1, LLC, NNN TITAN 2, LLC, NNN
TITAN 4, LLC, NNN TITAN 5, LLC, NNN TITAN 6, LLC, NNN TITAN 7, LLC, NNN TITAN 8, LLC, NNN TITAN 9,
LLC, each one a Texas limited liability company (“Owner”) acting by and through Triple Net
Properties Realty, Inc. (“Agent” for Owner) (collectively, “Seller”), and CHASE MERRITT, L.P., a
Delaware limited partnership or its assigns (“Buyer”), is made and entered into as of the later of
(i) the date this Agreement is executed by Seller and (ii) the date this Agreement is executed by
Buyer (the “Effective Date”), with reference to the following facts:

	 	A.	 	Seller owns certain real property located in San Antonio, Texas and more
specifically described in Exhibit A attached hereto (the “Land”), commonly
known as Titan Building and Plaza and such other assets, as the same are herein
described.

	 	B.	 	Subject to the terms and conditions in this Agreement, Seller desires to sell
to Buyer and Buyer desires to purchase from Seller the Land and the associated assets.

NOW, THEREFORE, in consideration of the mutual covenants, premises and agreements herein contained,
the parties hereto do hereby agree as follows:

	1.	 	Purchase and Sale.

The purchase and sale includes, and at Closing (hereinafter defined) Seller shall sell,
assign, grant and transfer to Buyer, all of Seller’s right and title, estate interest in and
to all of the following (hereinafter sometimes collectively, the “Property”):

	 	1.1	 	The Land, described on Exhibit A attached hereto, together with all
structures, buildings, improvements, machinery, fixtures, and equipment affixed or
attached to the Land and all easements and rights appurtenant thereto, including: (i)
all easements, privileges and rights belonging or in any way appurtenant to the Land,
(ii) any land lying in the bed of any street, road, alley or right-of-way, open or
closed, adjacent to or abutting the Land, and (iii) any and all air rights, subsurface
rights, development rights, and water rights permitting to the Land (all of the
foregoing being collectively referred to herein as the “Land”);

	 	1.2	 	All leases listed on Exhibit B (the “Leases”), including associated
amendments, with all persons (“Tenants”) leasing the Real Property or any part thereof
or hereafter entered into in accordance with the terms hereof prior to Closing,
together with all security deposits, other deposits held in connection with the Leases,
Lease and all of Seller’s right, title and interest in and to all guarantees, letters
of credit and other similar credit enhancements providing additional security for such
Leases;

	 	1.3	 	All tangible and intangible personal property owned by Seller located on or
used in connection with the Real Property, including, specifically, without limitation,
all sculptures, paintings and other artwork, all equipment, furniture, tools and
supplies, all plans and specifications and other architectural and engineering
drawings, if any, with respect to the Land and the Improvements, and any other personal
property and all related intangibles as are owned by Seller and currently located in,
on or about or are used for the operation, maintenance, administration or repair of the
Real Property, including Seller’s interest, if any, in the common name of the Real
Property (the “Personal Property”);

	 	1.4	 	All service contracts, agreements, warranties and guaranties relating to the
operation of the Property as of the Effective Date, to the extent assignable, and any
other service and operating agreements pertaining to the Property that are entered into
by Seller after the date of this Agreement and prior to the Closing in accordance with
the terms of this Agreement, in each case to the extent approved by Buyer in accordance
with this Agreement (collectively, the “Contracts”); provided, however, any Contracts
not so approved by Buyer shall be terminated by Seller, at Buyer’s expense, on or
before the Closing; and

	 	1.5	 	To the extent transferable, all building permits, certificates of occupancy and
other certificates, permits, consents, authorizations, variances or waivers,
dedications, subdivision maps, licenses and approvals from any governmental or
quasi-governmental agency, department, board, commission, bureau or other entity or
instrumentality relating to the Property (the “Permits”).

	2.	 	Purchase Price.

Subject to the charges, prorations and other adjustments set forth in this Agreement, total
Purchase Price of the Property shall be Fifteen Million Three Hundred Thousand Dollars
($15,300,000) (“Purchase Price”) payable as follows:

	 	2.1	 	Deposit/Further Payments/Down Payment.

	 	2.1.1	 	On the Effective Date Buyer shall deliver to Escrow Holder (as
defined in Section 7.1.1 below) by wire transfer immediately available funds in
the amount of Three Hundred Thousand Dollars ($300,000.00) (the “Deposit”).
The Deposit shall be released to Seller within one (1) day after the Effective
Date. The Deposit once received by Seller, shall be deemed earned by Seller
and non-refundable to Buyer, notwithstanding Buyer’s failure to or decision not
to close, except that the Deposit shall be applied to the Purchase Price at
Closing.

	 	2.2	 	At least one (1) business day prior to Closing, Buyer shall deposit into Escrow
by wire transfer of federal funds, the balance of the Purchase Price, subject to
adjustment by reason of any applicable prorations and the allocation of Closing costs
described below.

	3.	 	Title to Property.

During the Inspection Period (hereafter defined) Buyer shall review and approve the Title
Documents (hereinafter defined) and the Survey (hereinafter defined). If the Title
Documents or Survey reflect or disclose any defect, exception or other matter affecting the
Property (“Title Defects”) that is unacceptable to Buyer, then prior to the expiration of
the Inspection Period, Buyer shall provide Seller with written notice of Buyer’s objections.
Seller may, at its sole option, elect to cure or remove the objections made by Buyer.
Should Seller elect to attempt to cure or remove the objection, it shall be a condition
precedent to Buyer’s obligation to acquire the Property that Seller cures such title
objection prior to the Closing. Unless Seller provides written notice to Buyer before the
expiration of the Inspection Period that Seller intends to cure Buyer’s title objections,
Seller shall be deemed to have elected not to cure or remove Buyer’s title objections, and
Buyer shall be entitled, as Buyer’s sole and exclusive remedy, either to (i) terminate this
Agreement by providing written notice of termination to Seller before the end of the
Inspection Period and returning the Due Diligence Items (hereinafter defined) immediately
thereafter or (ii) waive the objections and close this transaction as otherwise contemplated
herein. If Buyer shall fail to terminate this Agreement during the Inspection Period, all
matters shown on the Survey and all matters described in the Title Report, except for
monetary liens for indebtedness of the Seller and any matters the Seller has agreed to cure
in writing, shall be deemed “Permitted Exceptions.” On or prior to Closing, Seller shall
cause any monetary liens created by Seller which affect the Property, other than property
taxes or assessments not yet delinquent, to be deleted or omitted from the Title Policy (as
defined in Section 4.1.2). Seller will cause any recorded memorandum regarding the
management agreement for the Property to be removed from the Title Policy at no cost to
Buyer.

	4.	 	Due Diligence Items.

	 	4.1	 	Seller shall deliver to Buyer each of the following within five business days
of the Effective Date (together with the items described in Section 4.2, collectively,
the “Due Diligence Items”):

	 	4.1.1	 	Any existing survey of the Property, in Seller’s possession
(the “Survey”);

	 	4.1.2	 	A current preliminary title report or title commitment (the
“Title Report”), dated not earlier than thirty (30) days prior to the Effective
Date, for the issuance of a standard coverage owner’s policy of title
insurance, with standard provisions and exceptions (the “Title Policy”) to
Buyer from the Escrow Holder, together with copies of all documents
constituting exceptions to the title as reflected in the Title Report
(collectively referred to hereinafter as the “Title Documents”);

	 	4.1.3	 	A list of all contracts, including service contracts,
warranties, management, maintenance, leasing commission or other agreements
affecting the Property, if any, together with copies of the same;

	 	4.1.4	 	True and correct copies of the real estate and personal
property tax statements covering the Property or any part thereof for each of
the two (2) years prior to the current year and, if available, for the current
year;

	 	4.1.5	 	A schedule of all current or pending litigation with respect
to the Property or any part, thereof, if any, together with a brief description
of each such proceeding;

	 	4.1.6	 	Operating statements for the most recent two full calendar
years and monthly operating statements for the calendar year to date, or if
shorter, for any periods during which Seller was owner of the Real Property;

	 	4.1.7	 	An inventory of all personal property located on the Property,
used in the maintenance of the Property or stored for future use at the
Property and an inventory of all furniture and appliances used in the units, if
any;

	 	4.1.8	 	A current rent roll which may include, among other things:
(1) the name of the Tenant, (2) the number of rentable square feet in Tenant’s
premises as set forth in Tenant’s Lease, (3) the current monthly base rental
payable by such Tenant, (4) the term of the Lease, (5) any available options
for the Tenant under the Lease; and (6) the amount of any security deposit;

	 	4.1.9	 	All environmental, physical or mechanical reports prepared by
third parties in Seller’s possession relating to the Property;

	 	4.1.10	 	Copies of all Leases presently in effect with respect to the Real Property,
together with any amendments or modifications thereto. All Leases, amendments
and modifications with respect to Titan and St. Paul’s are listed on the
attached Exhibit I.

	 	4.1.11	 	An aging report showing, with respect to each Tenant of the Real Property,
the date through which such Tenant has paid rent and a Tenant by Tenant monthly
aging report for the preceding twelve (12) months;

	 	4.1.12	 	All site plans, leasing plans, as-built plans, drawings, environmental,
mechanical, electrical, structural, soils and similar reports and/or audits and
plans and specifications relative to the Real Property in the possession of
Seller, if any; and

	 	4.1.13	 	Copies of utility bills for the Real Property for the prior calendar year and
the current year to date or if shorter, for any periods during which the Seller
was the owner of the Property.

	 	4.2	 	Seller shall make the following available for inspection by Buyer during
ordinary business hours at Seller’s management office:

	 	4.2.1	 	All site plans, leasing plans, as-built plans, drawings,
environmental, mechanical, electrical, structural, soils and similar reports
and/or audits and plans and specifications relative to the Property in the
possession of Seller, if any.

	 	4.2.2	 	The tenant files, books and records relating to the ownership
and operation of the Property.

	5.	 	Inspections.

	 	5.1	 	Buyer shall have a temporary non-exclusive license to enter and interview the
tenants and conduct non-invasive feasibility, environmental, and physical studies
collectively of the Property that Buyer may deem necessary or advisable (the
“Inspections”) at any time during the Inspection Period, on the terms set forth in this
Article 5. Buyer shall not conduct invasive testing of any kind (including without
limitation, “Phase II” environmental testing) without Seller’s consent. Buyer’s right
to conduct the Inspections shall be subject to rights of Tenants and shall be subject
to such conditions as may be reasonably imposed by the Seller in order to avoid
disruption at the Property. Notwithstanding the foregoing, if, after the expiration of
the Due Diligence Period, Buyer elects to go forward with the transaction herein, Buyer
shall be allowed continued access to the Property until Close of Escrow subject to the
prior approval of Seller, which shall not be unreasonably withheld and pursuant to the
terms of Section 5.2.

	 	5.2	 	Buyer must arrange all Inspections of the Property with Seller at least two (2)
business days in advance of any Inspections. Buyer and its agents shall maintain
equipment and other materials in an orderly manner while they are located on the
Property and to maintain them in locations specified by Seller. Buyer agrees to remove
all debris and trash resulting from the Inspections on a daily basis and to remove all
equipment and other materials used by Buyer or its agents as soon as the activity for
which such equipment and other materials are used is completed. Buyer and its agents
shall take all appropriate measures for the safety of persons and property on the
Property and shall comply with all applicable legal requirements. Buyer shall restore
any damage to the Property resulting from the Inspections including but not limited to
repair of surface openings resulting from tests. Buyer shall promptly provide to
Seller a copy of all reports and test results prepared or furnished in connection with
the Inspections.

	 	5.3	 	In the event that the Inspections show any fact, matter or condition to exist
with respect to the Property that is unacceptable to Buyer, in Buyer’s sole subjective
discretion, then Buyer shall be entitled, as its sole and exclusive remedy, to
(1) terminate this Agreement, or (2) waive the objection, and close the transaction as
otherwise contemplated herein. Buyer agrees to promptly discharge any liens that may
be imposed against the Property as a result of the Inspections and to defend, indemnify
and hold Seller harmless from all, claims, suits, losses, costs, expenses (including
without limitation court costs and attorneys’ fees), liabilities, judgments and damages
incurred by Seller as a result of any Inspections.

	 	5.4	 	Buyer shall indemnify, save and hold Seller and Seller’s officers, agents,
employees, directors, trustees, invitees, successors, and assigns (collectively
“Indemnitees”) harmless against all losses, costs, expenses, liabilities, claims,
litigation, demands, proceedings and damages (including but not limited to attorney’s
fees) suffered or incurred by Seller or any such Indemnitees arising out of and limited
to the Inspections, provided that Buyer shall not incur any liability due to its
discovery, without exacerbation of the condition of any Hazardous Materials or other
circumstances at the Property. Buyer waives any claims against Seller arising out of
the Inspections or this Agreement other than claims that are solely caused by or
solely arise from any negligent or willful misconduct of Seller. Buyer hereby assume
all responsibility for claims against Seller by the contractors, subcontractors,
employees, and agents of Buyer other than claims that are solely caused by or solely
arise from Seller’s negligence or willful misconduct.

	 	5.5	 	Buyer shall, during the term of this Agreement and at all times during which
access is available to it, require its subcontractors and agents, to maintain
insurance, in form and substance reasonably satisfactory to Seller, with insurance
companies acceptable to Seller, the following insurance: Comprehensive General
Liability or Commercial General Liability Insurance, with limits of not less than One
Million Dollars ($1,000,000) combined single limit per occurrence and not less than Two
Million Dollars ($2,000,000) on a general aggregate basis, for bodily injury, death and
property damage, and Excess (umbrella) liability insurance with liability insurance
with limits of not less than Five Million Dollars ($5,000,000) per occurrence. Each
policy of insurance shall name Seller as an additional insured. Further, each policy
of insurance shall state that such policy is primary and noncontributing with any
insurance carried by Seller. Such policy shall contain a provision that the naming of
the additional insured shall not negate any right the additional insured would have had
as a claimant under the policy if not so named and shall contain severability of
interest and cross-liability clauses. A certificate, together with any endorsements to
the policy required to evidence the coverage which is to be obtained hereunder, shall
be delivered to Seller prior to entry on the Property. The certificate shall expressly
provide that no less than thirty (30) days prior written notice shall be given Seller
in the event of any material alteration to or cancellation of the coverages evidenced
by said certificate. A renewal certificate for each of the policies required in this
Section shall be delivered to Seller not less than thirty (30) days prior to the
expiration date of the term of such policy. Any policies required by the provisions of
this Section may be made a part of a blanket policy of insurance with a “per project,
per location endorsement” so long as such blanket policy contains all of the provisions
required herein and does not reduce the coverage, impair the rights of the other party
to this Agreement or negate the requirements of this Agreement.

	 	5.6	 	During the course of its performance of the Inspections, Buyer will acquire
knowledge concerning the Property or Seller, or knowledge of other matters of a
sensitive business nature (collectively, “Privileged Information”). Except as
described below, neither Buyer nor its agents shall disclose to any third party,
publicize or suffer or permit any of their respective employees to so disclose or
publicize any such Privileged Information, other than to consultants, attorneys and
agents as necessary for the Buyer’s inspection and analysis of the Property. In the
event that Buyer believes in good faith that it is required by any legal requirement to
disclose any such Privileged Information, then Buyer shall immediately notify Seller of
such belief and the reasons for such belief. If Seller within 10 days after receipt of
such notice, advises the party that sent the notice that Seller shall itself disclose
the information, then Buyer shall not make such disclosure (unless either such party
reasonably believes that it must disclose such information by law). If Buyer
reasonably believes that such disclosure is required to be made in less than the 10-day
period, then the notice to Seller shall so state and Seller’s time to respond will be
reduced accordingly.

	 	5.7	 	The obligations of Buyer described in this Article shall survive the Closing or
any termination of this Agreement.

	6.	 	Approval.

	 	6.1	 	Buyer shall have fifteen (15) days from the Effective Date (“Inspection
Period”) to approve or disapprove the Inspections. If Buyer shall fail to notify
Seller and Escrow Holder of its disapproval of the Inspections in writing within the
Inspection Period, the condition of the Property shall be deemed approved. If Buyer
shall disapprove the Inspections within the Inspection Period this Agreement and the
Escrow shall thereupon be terminated. Buyer shall thereafter not be entitled to
purchase the Property, Seller shall not be obligated to sell the Property to Buyer and
the parties shall be relieved of any further obligation to each other with respect to
the Property, except as provided in Paragraph 5.

	 	6.2	 	Notwithstanding anything to the contrary contained herein, Buyer hereby agrees
that, in the event this Agreement is terminated for any reason, then Buyer shall
promptly and at its sole expense return to Seller all Due Diligence Items which have
been delivered by Seller to Buyer in connection with the Inspections, along with copies
of all reports, drawings, plans, studies, summaries, surveys, maps and other data
prepared by third parties relating to the Property, subject to restrictions on Buyer’s
ability to make any such materials available to Seller that are imposed in any
agreement with a third party consultant preparing any such reports or materials
(“Buyer’s Reports”); provided, however, that delivery of such copies and information by
Buyer shall be without warranty or representation whatsoever, express or implied,
including without limitations, any warranty or representation as to ownership,
accuracy, adequacy or completeness thereof or otherwise. Buyer shall cooperate with
Seller at no expense to Buyer in order to obtain a waiver of any such restrictions.

	 	6.3	 	Contracts. On or before the end of the Inspection Period, Buyer will
designate in a written notice to Seller which Contracts Buyer will assume and which
Contracts must be terminated by Seller at Closing. Taking into account any credits or
prorations to be made pursuant to this Agreement for payments coming due after Closing
but accruing prior to Closing, Buyer will assume the obligations arising from and after
Closing under those Contracts which Buyer has designated will not be terminated. At
Buyer’s expense, Seller shall terminate at Closing all Contracts that are not so
assumed.

	7.	 	Escrow.

	 	7.1	 	Opening.

	 	7.1.1	 	The purchase and sale of the Property shall be consummated
through an escrow (“Escrow”) to be opened with Fidelity National Title Company,
attention, Natalie Vona, 17911 Von Karman, Suite 275, Irvine, CA 92614 (“Escrow
Holder” or the “Title Company”) within two (2) business days after the
Effective Date. Escrow shall be deemed to be opened as of the date fully
executed copies (or counterparts) of this Agreement are delivered to Escrow
Holder by Buyer and Seller (“Opening of Escrow”). This Agreement shall be
considered as the Escrow instructions between the parties, with such further
instructions as Escrow Holder shall require in order to clarify its duties and
responsibilities. If Escrow Holder shall require further Escrow instructions,
Escrow Holder may prepare such instructions on its usual form. Such further
instructions shall be promptly signed by Buyer and Seller and returned to
Escrow Holder within three (3) business days of receipt thereof. In the event
of any conflict between the terms and conditions of this Agreement and such
further instructions, the terms and conditions of this Agreement shall control.

	 	7.2	 	Closing.

	 	7.2.1	 	Escrow shall close (“Closing”) on or before Friday, July 7,
2006 (“Closing Date”). Closing must occur, if at all, no later than the
Closing Date or this Agreement shall terminate without further action of the
parties and neither party shall have any further obligations to the other
hereunder except Buyer’s indemnification under Section 5.

	 	 	 	 	 	 	 
	7.3

	 	Buyer Required to Deliver.
	 	

	 
	 	 	 	 	 	 
	 	 	 
	 
	 	 	 	 	 	 
	 	 	Buyer shall deliver to Escrow the following:
	 
	 	 	 	 	 	 
	
 
	 	 	7.3.1	 	 	On the Effective Date, the Deposit;

	 	7.3.2	 	On or before Closing, the Purchase Price, subject to the
closing adjustments, credits and prorations contemplated hereby;

	 	7.3.3	 	On or before Closing, such other documents as Title Company
may reasonably require from Buyer in order to issue the Title Policy;

	 	7.3.4	 	An original counterpart executed by Buyer of an assignment and
assumption agreement (the “Assignment and Assumption Agreement”) in
substantially the form attached hereto as Exhibit C, whereby Seller
assigns and conveys to Buyer all of Seller’s right, title and interest in and
Buyer assumes all of Seller’s obligations under, the Leases and the Contracts
and the Permits;

	 	7.3.5	 	A counterpart closing statement (the “Closing Statement”)
setting forth the Purchase Price and all amounts charged against Buyer pursuant
to Section 7.7 of this Agreement.

	 	7.4	 	Seller Required to Deliver.

	 	 	 	On or before Closing, Seller shall deliver to Escrow the
following:

	 	7.4.1	 	A duly executed and acknowledged special warranty deed,
conveying fee title to the Property in favor of Buyer (the “Deed”);

	 	7.4.2	 	An executed certificate of non-foreign status;

	 	7.4.3	 	A bill of sale of the Personal Property, if any, without
warranty, in favor of Buyer and duly executed by Seller, in substantially the
form attached hereto as Exhibit D;

	 	7.4.4	 	An original counterpart executed by Seller of the Assignment
and Assumption Agreement;

	 	7.4.5	 	A counterpart Closing Statement setting forth the Purchase
Price and all amounts charged against Seller pursuant to Section 7.7 of this
Agreement;

	 	7.4.6	 	Such other documents as Title Company may reasonably require
from Seller in order to issue the Title Policy;

	 	7.4.7	 	A letter from Seller addressed to each Tenant informing such
Tenant of the change in ownership and directing that future rent payments be
made to Buyer;

	 	7.4.8	 	All keys to all buildings and other improvements located on
the Property, combinations to any safes thereon, and security devices therein
in Seller’s possession; and

	 	7.4.9	 	All records and files relating to the management or operation
of the Property, including, without limitation, all insurance policies, all
security contracts, all tenant files (including correspondence), property tax
bills, and all calculations used to prepare statements of rental increases
under the Leases and statements of common area charges, insurance, property
taxes and other charges which are paid by tenants of the Project.

	 	 	 	 	 	 	 
	7.5

	 	Buyer’s Costs.
	 	

	 
	 	 	 	 	 	 
	 	 	 
	 
	 	 	 	 	 	 
	 	 	Buyer shall pay the following:
	 
	 	 	 	 	 	 
	
 
	 	 	7.5.1	 	 	One-half (1/2) of Escrow Holder’s fees, costs and expenses;
	 
	 	 	 	 	 	 
	
 
	 	 	7.5.2	 	 	The cost of recording any documents relating to Buyer’s financing;

	 	7.5.3	 	Title Company’s premium for endorsements to the Title Policy
and any extended ALTA coverage; and

	 	7.5.4	 	All other costs customarily borne by Buyers of real property
in the county in which the Property is situated;

	 	 	 	 	 	 	 
	7.6

	 	Seller’s Costs.
	 	

	 
	 	 	 	 	 	 
	 	 	 
	 
	 	 	 	 	 	 
	 	 	Seller shall pay the following:
	 
	 	 	 	 	 	 
	
 
	 	 	7.6.1	 	 	One-half (1/2) of Escrow Holder’s fees, costs and expenses;
	 
	 	 	 	 	 	 
	
 
	 	 	7.6.2	 	 	All transfer taxes and costs of recording the Deed;

	 	7.6.3	 	Title Company’s premium for a basic Title Policy, exclusive of
the premium for any endorsements or extended ALTA coverage; and

	 	7.6.4	 	All other costs not itemized above which are customarily borne
by sellers of real property in the county in which the Property is situated.

	 	7.7	 	Prorations.

	 	7.7.1	 	Items to be Prorated. The following shall be prorated
between Seller and Buyer as of the Closing with the Buyer being deemed the
owner of the Property as of the Closing:

	 	(a)	 	Taxes and Assessments All
non-delinquent real property taxes, assessments and other governmental
impositions of any kind or nature, including, without limitation, any
special assessments or similar charges (collectively, “Taxes”), which
relate to the tax year within which the Closing occurs based upon the
actual number of days in the tax year. With respect to any portion of
the Taxes which are payable by any Tenant directly to the authorities,
no proration or adjustment shall be made. The proration for Taxes
shall be based upon the most recently issued tax bill for the Property,
and shall be calculated based upon the maximum early payment discount
available. The prorations for taxes and assessments which are made at
Closing shall be final, and not subject to reproration after Closing.
Upon the Closing, Buyer shall be responsible for real estate taxes and
assessments on the Property payable from and after the Closing. In no
event shall Seller be charged with or be responsible for any increase
in the taxes or assessments on the Property resulting from the sale of
the Property or from any improvements made or leases entered into after
the Closing. With respect to all periods for which Seller has paid
Taxes, Seller hereby reserves the right to institute or continue any
proceeding or proceedings for the reduction of the assessed valuation
of the Property, and, in its sole discretion, to settle the same.
Seller shall have sole authority to control the progress of, and to
make all decisions with respect to, such proceedings but shall provide
Buyer with copies of all communications with the taxing authorities.
All net tax refunds and credits attributable to any period prior to the
Closing which Seller has paid or for which Seller has given a credit to
Buyer shall belong to and be the property of Seller, provided, however,
that any such refunds and credits that are the property of Tenants
under Leases shall be promptly remitted by Seller directly to such
Tenants or to Buyer for the credit of such Tenants. All net tax
refunds and credits attributable to any period subsequent to the
Closing shall belong to and be the property of Buyer. Buyer agrees to
cooperate with Seller in connection with the prosecution of any such
proceedings and to take all steps, whether before or after the Closing,
as may be necessary to carry out the intention of this subparagraph,
including the delivery to Seller, upon demand, of any relevant books
and records, including receipted tax bills and cancelled checks used in
payment of such taxes, the execution of any and all consent or other
documents, and the undertaking of any acts necessary for the collection
of such refund by Seller. Buyer agrees that, as a condition to the
transfer of the Property by Buyer, Buyer will cause any transferee to
assume the obligations set forth herein.

	 	(b)	 	Rents Buyer will receive a credit at
the Closing for all rents collected by Seller prior to the Closing and
allocable to the period from and after the Closing based upon the
actual number of days in the month. No credit shall be given the
Seller for accrued and unpaid rent or any other non-current sums due
from Tenants until these sums are paid, and Seller shall retain the
right to collect any such rent provided Seller does not sue to evict
any tenants or terminate any Tenant Leases. Buyer shall cooperate with
Seller after the Closing to collect any rent under the Tenant Leases
which has accrued as of the Closing; provided, however, Buyer shall not
be obligated to sue any Tenants or exercise any legal remedies under
the Tenant Leases or to incur any expense over and above its own
regular collection expenses. All payments collected from Tenants after
the Closing shall first be applied to the month in which the Closing
occurs, then to any rent due to Buyer for the period after Closing and
finally to any rent due to Seller for the period prior to Closing;
provided, however, notwithstanding the foregoing, if Seller collects
any payments from Tenants after Closing through its own collection
efforts, Seller may first apply such payments to rent due the Seller
for the period prior to Closing.

	 	(c)	 	CAM Expenses To the extent that
Tenants are reimbursing the landlord for common area maintenance and
other operating expenses (collectively, “CAM Charges”), CAM Charges
shall be prorated at Closing and again subsequent to Closing, as of the
date of Closing on a lease-by-lease basis with each party being
entitled to receive a portion of the CAM Charges payable under each
Lease for the CAM Lease Year in which Closing occurs, which portion
shall be equal to the actual CAM Charges incurred during the party’s
respective periods of ownership of the Property during the CAM Lease
Year. As used herein, the term “CAM Lease Year” means the twelve (12)
month period as to which annual CAM Charges are owed under each Lease.
Five (5) days prior to Closing the Seller shall submit to Buyer an
itemization of its actual CAM Charges operating expenses through such
date and the amount of CAM Charges received by the Seller as of such
date, together with an estimate of CAM Charges to be incurred to, but
not including, the Closing. In the event that the Seller has received
CAM Charges payments in excess of its actual CAM Charges operating
expenses, the Buyer shall be entitled to receive a credit against the
Purchase Price for the excess. In the event that the Seller has
received CAM Charges payments less than its actual CAM Charges
operating expenses, to the extent that the Leases provide for a “true
up” at the end of the CAM Lease Year, the Seller shall be entitled to
receive any deficit but only after the Buyer has received any true up
payment from the Tenant. Upon receipt by either party of any CAM
Charge 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.

	 	(d)	 	Operating Expenses All operating
expenses (including all charges under the service contracts and
agreements assumed by Buyer) shall be prorated, and as to each service
provider, operating expenses payable or paid to such service provider
in respect to the billing period of such service provider in which the
Closing occurs (the “Current Billing Period”), shall be prorated on a
per diem basis based upon the number of days in the Current Billing
Period prior to the Closing and the number of days in the Current
Billing Period from and after the Closing, and assuming that all
charges are incurred uniformly during the Current Billing Period. If
actual bills for the Current Billing Period are unavailable as of the
Closing, then such proration shall be made on an estimated basis based
upon the most recently issued bills, subject to readjustment upon
receipt of actual bills.

	 	(e)	 	Security Deposits; Prepaid Rents.
Prepaid rentals and other tenant charges and security deposits
(including any portion thereof which may be designated as prepaid rent)
under Tenant Leases, if and to the extent that such deposits are in
Seller’s actual possession or control and have not been otherwise
applied by Seller to any obligations of any Tenants under the Tenant
Leases, shall be credited against the Purchase Price, and upon the
Closing, Buyer shall assume full responsibility for all security
deposits to be refunded to the Tenants under the Tenant Leases (to the
extent the same are required to be refunded by the terms of such Tenant
Leases or applicable). In the event that any security deposits are in
the form of letters of credit or other financial instruments (the
“Non-Cash Security Deposits”) Buyer shall have such financial
instruments transferred after Closing. Seller will cooperate with
Buyer after the Closing to have Buyer named as beneficiary under the
Non-Cash Security Deposits; provided that such cooperation shall be at
no cost or expense to Seller. Buyer will not receive a credit against
the Purchase Price for such security deposits.

	 	(f)	 	Leasing Costs. Seller shall receive a
credit at the Closing for all leasing costs, including tenant
improvement costs and allowances, and its pro-rata leasing commissions,
previously paid by Seller in connection with any Lease or modification
to an existing tenant Lease which was entered into after the Effective
Date and which is approved or deemed approved by Buyer pursuant to this
Agreement, which approval included approval of the tenant improvement
costs. The Seller’s pro-rata share shall be equal to a fraction which
has as its numerator the number of months left in the base term of the
Lease after the Closing and which has as its denominator the number of
months in the base term of the Lease. Seller shall credit to Buyer at
Closing the cost of all tenant improvement allowances, leasing
commissions, free rent, and other tenant inducements or benefits with
respect to the premises leased as of the Effective Date by the Tenants
pursuant to the Tenant Leases in effect as of the Effective Date, to
the extent that such improvement allowances and leasing commissions are
unpaid or that such fee rent period has not occurred as of the Closing.
In consideration of such credit, Buyer shall assume all obligations,
risks and liabilities for paying all leasing commission, honoring all
fee rent and other tenant inducements and completing all tenant
improvements and related work on the premises including, but not
limited to, those matters referenced on Exhibit E hereto.

	 	7.7.2	 	Calculation; Reproration. Prior to Closing the
parties shall jointly prepare an estimated closing statement which shall set
forth the costs payable under sections 7.5 and 7.6 and the prorations and
credits provided for in section 7.7.1 and elsewhere in this Agreement. Any
item which cannot be finally prorated because of the unavailability of
information shall be tentatively prorated on the basis of the best data then
available and adjusted when the information is available in accordance with
this subparagraph; provided, however, that there shall be no reproration for
taxes and assessments. The estimated closing statement as adjusted as
aforesaid and approved in writing by the parties shall be referred to herein as
the “Closing Statement”. If the prorations and credits made under the Closing
Statement shall prove to be incorrect or incomplete for any reason, then either
party shall be entitled to an adjustment to correct the same; provided,
however, that there shall be no reproration for taxes and assessments; and
further provided that any adjustment shall be made, if at all, within sixty
(60) days after the Closing (except with respect to CAM Charges, in which case
such adjustment shall be made within thirty (30) days after the information
necessary to perform such adjustment is available), and if a party fails to
request an adjustment to the Closing Statement by a written notice delivered to
the other party within the applicable period set forth above (such notice to
specify in reasonable detail the items within the Closing Statement that such
party desires to adjust and the reasons for such adjustment), then the
prorations and credits set forth in the Closing Statement shall be binding and
conclusive against such party.

	 	7.7.3	 	Items Not Prorated. Seller and Buyer agree that (a)
on the Closing, the Property will not be subject to any financing arranged by
Seller; (b) none of the insurance policies relating to the Property will be
assigned to Buyer and Buyer shall responsible for arranging for its own
insurance as of the Closing; and (c) utilities, including telephone,
electricity, water and gas, shall be read on the Closing and Buyer shall be
responsible for all the necessary actions needed to arrange for utilities to be
transferred to the name of Buyer on the Closing, including the posting of any
required deposits and Seller shall be entitled to recover and retain from the
providers of such utilities any refunds or overpayments to the extent
applicable to the period prior to the Closing, and any utility deposits which
it or its predecessors may have posted. Accordingly, there will be no
prorations for debt service, insurance or utilities. In the event a meter
reading is unavailable for any particular utility, such utility shall be
prorated in the manner provided in subparagraph (1)(e) above.

	 	7.7.4	 	Indemnification. Buyer and Seller shall each
indemnify, protect, defend and hold the other harmless from and against any
claim in any way arising from the matters for which the other receives a credit
or otherwise assumes responsibility pursuant to this Section.

	 	7.7.5	 	Survival. This Section 7.7 shall survive the Closing.

	 	7.8	 	Determination of Dates of Performance.

Promptly after delivery to Buyer of the Title Report, Escrow Holder shall prepare
and deliver to Buyer and Seller a schedule which shall state each of the following
dates:

	 	7.8.1	 	The date of Opening of Escrow pursuant to Paragraph 7.1;

	 	7.8.2	 	The date of receipt of the Title Report by Buyer;

	 	7.8.3	 	The date by which title must be approved by Buyer pursuant to
Paragraph 3;

	 	7.8.4	 	The date by which the Inspections must be approved by Buyer
pursuant to Paragraph 5.1;

	 	7.8.5	 	The date by which the amounts described in Paragraph 2 must be
deposited by Buyer, for which determination Escrow Holder shall assume
satisfaction of the condition expressed in Paragraph 2 on the last date stated
for its satisfaction; and

	 	7.8.6	 	The date of Closing pursuant to Paragraph 7.2.

If any events which determine any of the aforesaid dates occur on a date other than
the date specified or assumed for its occurrence in this Agreement, Escrow Holder
shall promptly redetermine as appropriate each of the dates of performance in the
aforesaid schedule and notify Buyer and Seller of the dates of performance, as
redetermined.

	8.	 	Representations, Warranties, and Covenants.

	 	8.1	 	Representations of Seller. Each entity referred to herein as a Seller
hereby represents and warrants as of the date hereof to Buyer as follows:

	 	8.1.1	 	TREIT — Titan Plaza, L.P. is a limited partnership duly formed
and validly existing under the laws of the Commonwealth of Virginia. NNN Titan
1, LLC, NNN Titan 2, LLC, NNN Titan 3, LLC, NNN Titan 4, LLC, NNN Titan 5, LLC,
NNN Titan 6, LLC, NNN Titan 7, LLC, NNN Titan 8, LLC and NNN Titan 9, LLC are
each a Texas limited liability company duly formed and validly existing under
the laws of the State of Texas. Subject to receipt of the approval described
in Section 10.2.2, Seller has full power and authority to enter into this
Agreement, to perform this Agreement and to consummate the transactions
contemplated hereby. This Agreement is a legal, valid and binding obligation
of Seller, enforceable against Seller in accordance with its terms, subject to
the effect of applicable bankruptcy, insolvency, reorganization, arrangement,
moratorium or other similar laws affecting the rights of creditors generally.

	 	8.1.2	 	Seller is not a “foreign person” within the meaning of Section
1445(f) of the Internal Revenue Code of 1986, as amended (the “Code”).

	 	8.1.3	 	The list of leases attached hereto as Exhibit B
represents all of the leases that affect the Property as of May 22, 2006.

	 	8.1.4	 	Except as set forth on any schedule of litigation delivered
pursuant to Paragraph 4.1.5, to the best of Seller’s knowledge there are no
actions, suits or proceedings pending, or, threatened against Seller and
affecting any portion of the Real Property, at law or in equity, or before or
by any federal, state, municipal, or other governmental court, department,
commission, board, bureau, agency, or instrumentality, domestic or foreign.

	 	8.1.5	 	Seller has not received any notice of any violations of any
ordinance, regulation, law, or statute of any governmental agency pertaining to
the Real Property or any portion thereof.

	 	8.1.6	 	To Seller’s knowledge, there are no presently pending or
contemplated proceedings to condemn the Real Property or any part of it.

	 	8.1.7	 	Seller has no knowledge of nor received any written notice of
violation issued pursuant to any environmental law with respect to the Real
Property or any use or condition thereof other than the notice listed on the
attached Exhibit F.

In making the foregoing representations and warranties, we have not made or
undertaken to make any investigation as to factual matters or as to the accuracy or
completeness of any representation, warranty, data or any other information related
thereto and hereby disclaim liability for any unintentional misstatement. Whenever
the term “to the best of Seller’s knowledge” or similar language is used herein with
respect to the existence or absence of facts, it signifies that we have not
undertaken any independent investigation of facts, but instead base our opinion in
sole reliance upon the current actual knowledge of Rick Burnett and Thomas C. Young
and we disclaim any obligation to conduct any independent investigation with respect
to such matters.

	 	8.2	 	Approval of Property; Limitations on Seller Representations and
Warranties.

	 	8.2.1	 	Seller makes no representations or warranties as to the truth,
accuracy, completeness, methodology of preparation or otherwise concerning any
engineering or environmental reports, audits, the materials prepared by the
Seller, or any other materials, data or other information whatsoever supplied
to Buyer in connection with Buyer’s inspection of the Property. It is the
parties’ express understanding and agreement that such materials are provided
only for Buyer’s convenience in making its own examination and determination
prior to the expiration of the Inspection Period as to whether it wishes to
purchase the Property, and, in doing so, Buyer shall rely exclusively on its
own independent investigation and evaluation of every aspect of the Property
and not on any materials supplied by Seller. Except as may be specifically
provided elsewhere in this Agreement, Buyer expressly disclaims any intent to
rely on any such materials provided to it by Seller in connection with its
inspection and agrees that it shall rely solely on its own independently
developed or verified information. Except with respect to all obligations in
this Agreement (including without limitation Seller’s express representations
and warranties) that are expressly stated to survive Closing, the indemnity
provisions contained in the documents delivered in connection with the closing
of the transactions contemplated by this Agreement (collectively, the
“Surviving Obligations”), Buyer hereby releases Seller and its agents,
representatives, and employees from any and all claims, demands, and causes of
action, past, present, and future that Buyer may have relating to (a) the
condition of the Property at any time, before or after the Closing, including
without limitation, the presence of any hazardous materials, or (b) any other
matter pertaining to the Property. This release shall survive the Closing or
the termination of this Agreement.

	 	8.2.2	 	In the event of any breach by Seller of any of the preceding
representations or warranties or any other breach by Seller of any other
provision of this Agreement which is discovered by Buyer prior to Closing and
which is not cured by Seller within ten (10) business days of Seller’s receipt
of written notice, Buyer’s sole remedy shall be to elect in writing to
terminate this Agreement and receive a refund of the Deposit or waive such
breach and proceed with the Closing. In the event of any material breach by
Seller of any of such representations or warranties or any other material
breach by Seller of any other provision of this Agreement or any agreement
delivered in connection herewith discovered after Closing, Seller shall be
liable only for direct and actual damages suffered by Buyer on account of
Seller’s breach, up to the applicable limits described hereunder, and shall in
no event be liable for consequential or punitive damages. Any liability of
Seller hereunder for breach of any such representations or warranties shall be
limited to (a) claims in excess of an aggregate of Fifty Thousand Dollars
($50,000.00), and (b) a maximum aggregate cap of Two Hundred Fifty Thousand
Dollars ($250,000.00). Notice of such claim must be delivered to Seller in
writing within three (3) months of Closing. In no event shall Seller be liable
for any indirect or consequential damages on account of Seller’s breach of any
representation or warranty contained in this Agreement. Additionally,
notwithstanding the foregoing, if Buyer becomes aware prior to the Closing that
any representation or warranty hereunder is untrue, or any covenant or
condition to Closing has not been fulfilled or satisfied (if not otherwise
waived by Buyer), and Buyer nonetheless proceeds to close on the purchase of
the Property, then Buyer shall be deemed to have irrevocably and absolutely
waived, relinquished and released all rights and claims against Seller for any
damage or other loss arising out of or resulting from such untrue
representation or warranty or such unfulfilled or unsatisfied covenant or
condition. Seller’s representations and warranties set forth in Section
8.1 shall survive the Closing for a period of three (3) months.

	 	8.2.3	 	Approval of Property. The consummation of the
purchase and sale of the Property pursuant to this Agreement shall be deemed
Buyer’s acknowledgement that it has had an adequate opportunity to make such
legal, factual and other inspections, inquiries and investigations as it deems
necessary, desirable or appropriate with respect to the Property. Such
inspections, inquiries and investigations of Buyer shall be deemed to include,
but shall not be limited to, any leases and contracts pertaining to the
Property, the physical components of all portions of the Property, the physical
condition of the Property, such state of facts as an accurate survey,
environmental report and inspection would show, the present and future zoning
ordinance, ordinances, resolutions. Buyer shall not be entitled to and shall
not rely upon, Seller or Seller’s agents with regard to, and Seller will not
make any representation or warranty with respect to: (i) the quality, nature,
adequacy or physical condition of the Property including, but not limited to,
the structural elements, foundation, roof, appurtenances, access, landscaping,
parking facilities, or the electrical, mechanical, HVAC, plumbing, sewage or
utility systems, facilities, or appliances at the Property, if any; (ii) the
quality, nature, adequacy or physical condition of soils or the existence of
ground water at the Property; (iii) the existence, quality, nature, adequacy or
physical condition of any utilities serving the Property; (iv) the development
potential of the Property, its habitability, merchantability, or the fitness,
suitability, or adequacy of the Property for any particular purpose; (v) the
zoning or other legal status of the Property; (vi) the Property or its
operations’ compliance with any applicable codes, laws, regulations, statutes,
ordinances, covenants, conditions or restrictions of any governmental or
quasi-governmental entity or of any other person or entity; (vii) the quality
of any labor or materials relating in any way to the Property; or (viii) the
condition of title to the Property or the nature, status and extent of any
right-of-way, lease, right of redemption, possession, lien, encumbrance,
license, reservation, covenant, condition, restriction, or any other matter
affecting the Property except as expressly set forth in this Agreement. EXCEPT
AS EXPRESSLY PROVIDED IN THIS AGREEMENT AND/OR THE DEED, SELLER HAS NOT, DOES
NOT, AND WILL NOT MAKE ANY WARRANTIES OR REPRESENTATIONS WITH RESPECT TO THE
PROPERTY AND SELLER SPECIFICALLY DISCLAIMS ANY OTHER IMPLIED WARRANTIES OR
WARRANTIES ARISING BY OPERATION OF LAW, INCLUDING, BUT IN NO WAY LIMITED TO,
ANY WARRANTY OF CONDITION, MERCHANTABILITY, HABITABILITY, OR FITNESS FOR A
PARTICULAR PURPOSE OR USE. FURTHERMORE, SELLER HAS NOT, DOES NOT, AND WILL NOT
MAKE ANY REPRESENTATION OR WARRANTY WITH REGARD TO COMPLIANCE WITH ANY
ENVIRONMENTAL PROTECTION, POLLUTION, OR LAND USE LAWS, RULES, REGULATIONS,
ORDERS, OR REQUIREMENTS INCLUDING, BUT NOT LIMITED TO, THOSE PERTAINING TO THE
HANDLING, GENERATING, TREATING, STORING OR DISPOSING OF ANY HAZARDOUS WASTE OR
SUBSTANCE INCLUDING, WITHOUT LIMITATION, ASBESTOS, PCB AND RADON. BUYER
ACKNOWLEDGES THAT BUYER IS A SOPHISTICATED BUYER FAMILIAR WITH THIS TYPE OF
PROPERTY AND THAT, SUBJECT ONLY TO THE EXPRESS WARRANTIES SET FORTH IN THIS
AGREEMENT AND/OR CLOSING DOCUMENTS, BUYER WILL BE ACQUIRING THE PROPERTY “AS IS
AND WHERE IS, WITH ALL FAULTS,” IN ITS PRESENT STATE AND CONDITION, SUBJECT
ONLY TO NORMAL WEAR AND TEAR AND BUYER SHALL ASSUME THE RISK THAT ADVERSE
MATTERS AND CONDITIONS MAY NOT HAVE BEEN REVEALED BY BUYER’S INSPECTIONS AND
INVESTIGATIONS. BUYER SHALL ALSO ACKNOWLEDGE AND AGREE THAT THERE ARE NO ORAL
AGREEMENTS, WARRANTIES OR REPRESENTATIONS, COLLATERAL TO OR AFFECTING THE
PROPERTY BY SELLER, ANY AGENT OF SELLER OR ANY THIRD PARTY. THE TERMS AND
CONDITIONS OF THIS PARAGRAPH SHALL SURVIVE THE CLOSING, AND NOT MERGE WITH THE
PROVISIONS OF ANY CLOSING DOCUMENTS. SELLER SHALL NOT BE LIABLE OR BOUND IN
ANY MANNER BY ANY ORAL OR WRITTEN STATEMENTS, REPRESENTATIONS OR INFORMATION
PERTAINING TO THE PROPERTY FURNISHED BY ANY REAL ESTATE BROKER, AGENT,
EMPLOYEE, SERVANT OR OTHER PERSON, UNLESS THE SAME ARE SPECIFICALLY SET FORTH
OR REFERRED TO IN THIS AGREEMENT. EXCEPT WITH REGARD TO THE OBLIGATIONS
EXPRESSLY SET FORTH IN THIS AGREEMENT AND THE REPRESENTATIONS AND WARRANTIES IN
SECTION 8.1, BUYER HEREBY RELEASES SELLER AND ITS AGENTS, REPRESENTATIVES AND
EMPLOYEES FROM ANY AND ALL LIABILITY RELATING TO THE CONDITION OF THE PROPERTY
BEFORE OR AFTER THE CLOSING AND ANY OTHER MATTER RELATING TO THE PROPERTY,
WHETHER KNOWN OR UNKNOWN AT THE TIME OF THE CLOSING.

	 	8.2.4	 	Release. Except as expressly set forth in this
Agreement to the contrary and except for any claims arising under the express
representations, warranties or covenants of Seller under this Agreement or
under the indemnity provisions of any document delivered in connection with the
closing of the transactions contemplated by this Agreement, Buyer for itself
and its agents, affiliates, successors and assigns, hereby releases and forever
discharges Seller, and any party related to or affiliated with Seller and their
respective successors and assigns (the “Seller Related Parties”) from and
against any and all claims at law or equity which Buyer or any party related to
or affiliated with Buyer and their respective successors and assigns (each a
“Buyer Related Party”) whether known or unknown at the time of this agreement,
which Buyer or a Buyer Related Party has or may have in the future, arising
from or related to any matter or thing relating to or in connection with the
Property, including but not limited to, the documents and information referred
to in this Agreement, the leases and the tenants, the Loan, any construction
defects, errors or omissions in the design or construction and arising out of
the physical, environmental, economic or legal condition of the Property,
including, without limitation, any claim for indemnification or contribution
arising under the Comprehensive Environmental Response, Compensation, and
Liability Act (42 U.S.C. Section 9601, et. sm.) or any similar federal, state
or local statute, rule or ordinance relating to liability of property owners or
operators for environmental matters. For the foregoing purposes, Buyer hereby
specifically waives the provisions of Section 1542 of the California Civil Code
and any similar law of any other state, territory or jurisdiction. Section 1542
provides:

A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW
OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH
IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE
DEBTOR.

BUYER HEREBY SPECIFICALLY ACKNOWLEDGES THAT BUYER HAS CAREFULLY
REVIEWED THIS SUBSECTION AND DISCUSSED ITS IMPORT WITH LEGAL COUNSEL
AND THAT THE PROVISIONS OF THIS SUBSECTION ARE A MATERIAL PART OF THIS
AGREEMENT.

BUYER:      

	 	 	 
	8.3

	 	INTENTIONALLY DELETED
	 
	 	 
	8.4

	 	INTENTIONALLY DELETED
	 
	 	 
	8.5

	 	Covenants of Seller. Seller hereby covenants as follows:
	
 
	 	 

	 	8.5.1	 	At all times from the date hereof through the date of Closing,
Seller shall cause to be in force fire and extended coverage insurance upon the
Property, and public liability insurance with respect to damage or injury to
persons or property occurring on the Property in at least such amounts as are
maintained by Seller on the Effective Date;

	 	8.5.2	 	From the end of the Effective Date through the date of
Closing, Seller will not enter into any new lease with respect to the Property,
without Buyer’s prior written consent, which shall not be unreasonably
withheld. Exercise of a renewal option shall not be considered a new lease.
Any brokerage commission payable with respect to a new lease shall be paid by
Buyer. Further, Seller will not modify any existing Lease covering space in
the Property without first obtaining the written consent of Buyer which shall
not be unreasonably withheld. Buyer shall have five (5) business days from its
receipt of Seller’s notice of a new lease in which to approve or disapprove of
any new lease for which it has a right to consent. Failure to respond in
writing within said time period shall be deemed to be consent;

	 	8.5.3	 	From the Effective Date through the date of Closing, Seller
shall not sell, assign, or convey any right, title or interest whatsoever in or
to the Property, or create or permit to attach any lien, security interest,
easement, encumbrance, charge, or condition affecting the Property (other than
the Permitted Exceptions) without promptly discharging the same prior to
Closing;

	 	8.5.4	 	Seller shall not, without Buyer’s written approval, (a) amend
or waive any right under any Service Contract, or (b) enter into any agreement
of any type affecting the Property that is not terminable on 30 days notice.

	9.	 	Representations and Warranties of Buyer. Buyer hereby represents and warrants to
Seller as follows:

	 	9.1	 	Buyer is a limited partnership duly organized and validly existing under the
laws of the State of Delaware. Buyer has full power and authority to enter into this
Agreement, to perform this Agreement and to consummate the transactions contemplated
hereby. This Agreement is a legal, valid and binding obligation of Buyer, enforceable
against Buyer in accordance with its terms, subject to the effect of applicable
bankruptcy, insolvency, reorganization, arrangement, moratorium or other similar laws
affecting the rights of creditors generally.

	10.	 	Conditions Precedent to Closing.

	 	10.1	 	The obligations of Buyer pursuant to this Agreement shall, at the option of
Buyer, be subject to the following conditions precedent:

	 	10.1.1	 	All of the representations, warranties and agreements of Seller set forth in
this Agreement shall be true and correct in all material respects as of the
Effective Date, and Seller shall not have on or prior to closing, failed to
meet, comply with or perform in any material respect any conditions or
agreements on Seller’s part as required by the terms of this Agreement.

	 	10.1.2	 	There shall be no material adverse change in the matters reflected in the
Title Report, and there shall not exist any material adverse encumbrance or
title defect affecting the Property except for the Permitted Exceptions or
matters to be satisfied at Closing.

	 	10.1.3	 	Seller shall, no less than four (4) days prior to the Closing, deliver to
Buyer estoppel certificates for tenants representing seventy-five percent (75%)
of the square feet which are leased by tenants as of the Effective Date
(“Estoppel Threshold”), which shall include Tenant Estoppels (as defined
herein) for Titan, St. Paul’s and Verizon or their respective successors or
assigns. Seller shall, pre-closing, cooperate with Buyer in obtaining, but
shall not be obligated to obtain, any subordination, non-disturbance and
attornment agreement requested by Buyer’s Lender, in the form of
Exhibit J attached hereto and incorporated herein by this reference,
for any lease that does not contain automatic subordination language. All
estoppel certificates shall be substantially in the form which such tenants are
required to provide pursuant to the terms of each tenant’s respective lease,
or, at Seller’s option, in the form of Exhibit G attached hereto and
incorporated herein by this reference (“Tenant Estoppel”). Seller, in its sole
discretion, will add commercially reasonable content to the Tenant Estoppel, as
requested, to satisfy Buyer’s lender. For purposes of the foregoing sentence,
the determination of “commercially reasonable content” shall be determined by
Seller in its sole discretion. Seller shall have no liability or
responsibility for the information set forth in the estoppel certificates
delivered by the tenants. Estoppel certificates shall be deemed to satisfy
this condition precedent unless they disclose materially adverse matters and/or
are inconsistent with the documents delivered pursuant to Section 4.1.10.
Buyer shall notify Seller within four (4) business days of receipt of a copy of
the executed estoppel certificate of its approval or disapproval and the basis
of such disapproval, if disapproved. If Buyer disapproves of an estoppel
certificate because of a material, adverse matter disclosed therein, and Seller
is unable to obtain a reasonably acceptable estoppel certificate prior to the
Closing, but in no event later than fifteen (15) days after Buyer’s disapproval
of same, this Agreement shall terminate, Buyer shall receive a refund of the
Deposit and neither party shall have any further obligation to the other except
Buyer’s indemnification obligations under Paragraph 5.

	 	10.2	 	The obligations of Seller under this Agreement shall, at the option of Seller,
be subject to the following conditions precedent:

	 	10.2.1	 	All of the representations, warranties and agreements of Buyer set forth in
this Agreement shall be true and correct in all material respects as of the
Effective Date, and Seller shall not have on or prior to closing, failed to
meet, comply with or perform in any material respect any conditions or
agreements on Buyer’s part as required by the terms of this Agreement.

	 	10.2.2	 	Seller shall have received approval of the Sale from all entities comprising
Seller not later than twenty (20) business days following the Effective Date.
Upon receipt of such approval, Seller shall immediately notify Buyer of such
approval in writing (“Seller’s 10.2.2 Approval”). In the event Seller shall
not receive such approval, Seller shall provide Buyer with written notice of
such non-approval (“Seller’s 10.2.2 Notice”), terminate the Agreement, and,
notwithstanding Section 2.1.1 of this Agreement, return the Deposit to Buyer
within two (2) business days after Seller’s 10.2.2 Notice, and neither party
shall have any further obligations to the other hereunder except Buyer’s
indemnification under Section 5.

If any such condition is not fully satisfied by Closing, the party in whose favor the
condition runs shall notify the other party and may terminate this Agreement by written
notice whereupon this Agreement may be canceled, upon return of the Due Diligence Items and,
thereafter, neither Seller nor Buyer shall have any continuing obligations hereunder;
provided, however, that if Buyer notifies Seller of a failure to satisfy the conditions
precedent set forth in Section 10.1, Seller may, within ten (10) days of receipt of Buyer’s
notice agree to satisfy the condition by written notice to Buyer, and Buyer shall thereupon
be obligated to close the transaction provided Seller so satisfies such condition. Closing
may be delayed by Seller for up to ten (10) days after Seller’s receipt of Buyer’s notice to
allow Seller time to satisfy such conditions. If Seller fails to timely cure any condition
set forth in Section 10.1, this Agreement shall be canceled, Buyer shall receive a refund of
the Deposit and neither party shall have any further liability hereunder.

	11.	 	Damage or Destruction Prior to Closing.

In the event that the Property should be damaged by any casualty prior to the Closing, then
if the cost of repairing such damage, as reasonably estimated by Seller, is:

	 	11.1	 	Less than One Million Dollars ($1,000,000), the Closing shall proceed as
scheduled and any insurance proceeds shall be distributed to Buyer to the extent not
expended by Seller for restoration Buyer shall receive a credit at Closing equal to the
property insurance policy deductible reduced by any applicable payments made by Seller
for restoration;

	 	•	 	r if said cost is:

	 	11.2	 	Greater than One Million Dollars ($1,000,000), then either Seller or Buyer may
elect to terminate this Agreement, in which case the Buyer shall return the Due
Diligence Items to Seller and only if Seller elects to terminate this Agreement, the
Deposit shall be returned to the Buyer and neither party shall have any further
obligation to the other except for Buyer’s indemnification obligations under Paragraph
5. Should Buyer proceed to Closing, Buyer shall receive any insurance proceeds and a
credit at Closing equal to the property insurance policy deductible reduced by any
applicable payments made by Seller for restoration.

	12.	 	Eminent Domain.

	 	12.1	 	If, before the Closing, proceedings are commenced for the taking by exercise of
the power of eminent domain of all or a material part of the Property which, as
reasonably determined by Buyer, would render the Property unacceptable to Buyer or
unsuitable for Buyer’s intended use, Buyer shall have the right, by giving notice to
Seller within thirty (30) days after Seller gives notice of the commencement of such
proceedings to Buyer, to terminate this Agreement, in which event this Agreement shall
terminate, and only if Seller elects to terminate this Agreement, the Deposit shall be
returned to the Buyer and neither party shall have any further obligation to the other
except for Buyer’s indemnification under Paragraph 5. If, before the Closing,
proceedings are commenced for the taking by exercise of the power of eminent domain of
less than such a material part of the Property, or if Buyer has the right to terminate
this Agreement pursuant to the preceding sentence but Buyer does not exercise such
right, then this Agreement shall remain in full force and effect and, at the Closing,
the condemnation award (or, if not therefore received, the right to receive such
portion of the award) payable on account of the taking shall be transferred in the same
manner as title to the Property is conveyed. Seller shall give notice to Buyer within
three (3) business days after Seller’s receiving notice of the commencement of any
proceedings for the taking by exercise of the power of eminent domain of all or any
part of the Property.

	13.	 	Notices.

	 	13.1	 	All notices, demands, or other communications of any type given by any party
hereunder, whether required by this Agreement or in any way related to the transaction
contracted for herein, shall be void and of no effect unless given in accordance with
the provisions of this Paragraph. All notices shall be in writing and delivered to the
person to whom the notice is directed, either in person, by United States Mail, as a
registered or certified item, return receipt requested by telecopy or by Federal
Express. Notices delivered by mail shall be deemed given when received. Notices by
telecopy or Federal Express shall be deemed received on the business day following
transmission. Notices shall be given to the following addresses:

	 	 	 	 	 
	Seller:
	 	Theresa Hutton

	 
	 	 	 	 
	 
	 	Triple Net Properties, LLC

	 
	 	1551 N. Tustin Ave.  #200
	 
	 	Santa Ana, CA  92705

	 
	 	 	(714) 667-8252	 
	 
	 	(714) 667-6860  fax
	With Required Copy to:
	 	Thomas C. Young

	 
	 	 	 	 
	 
	 	Triple Net Properties, LLC

	 
	 	4 Hutton Centre Drive, Suite 700
	 
	 	South Coast Metro, CA  92707

	 
	 	(714) 667-8252 ext. 619
	 
	 	(714) 918-9150  fax
	 
	 	Joseph J. McQuade, Esq.

	 
	 	Hirschler Fleischer

	 
	 	The Federal Reserve Bank Building, 16th Floor

	 
	 	701 East Byrd Street
	 
	 	Richmond, VA  23219

	 
	 	 	(804) 771-9502	 
	 
	 	(804) 644-0957  fax
	Buyer:
	 	Bradley Redelsperger

	 
	 	 	 	 
	 
	 	Vice-President

	 
	 	660 Newport Center Drive, Suite 1240
	 
	 	Newport Beach, CA  92660

	With Required Copy to:
	 	Tamarin L. Preston

	 
	 	 	 	 

Director of Legal Affairs

660 Newport Center Drive, Suite 1240

Newport Beach, CA 92660

	14.	 	Remedies.

	 	14.1	 	Defaults by Seller. If there is any default by Seller under this
Agreement, which is not cured by Seller within ten (10) business days of Seller’s
receipt of written notice, Buyer may, as its sole options elect to either (a) declare
this Agreement terminated and receive a refund of the Deposit; or (b) treat this
Agreement as being in full force and effect and bring an action against Seller for
specific performance. In the event of a Seller default, all time periods hereunder
(including, but not limited to those referenced in Section 7.8) shall be extended for
the lesser of seven (7) days, or the actual number of days in which Seller cured its
default.

	 	14.2	 	Defaults by Buyer. If there is any default by Buyer under this
Agreement, following notice to Buyer and seven (7) days, during which period Buyer may
cure the default, then Seller may, as its sole remedy, declare this Agreement
terminated and each party shall thereupon be relieved of all further obligations and
liabilities, except any which survive termination. Notwithstanding the foregoing, the
Buyer’s right to cure shall be applicable to a failure to close and the Closing shall
in no event be extended pursuant to this Section. In the event this Agreement is
terminated due to the default of Buyer hereunder, Buyer shall deliver to Seller, at no
cost to Seller, the Due Diligence Items and all of Buyer’s Reports. In the event of a
Buyer default, all time periods hereunder (including, but not limited to those
referenced in Section 7.8) shall be extended for the lesser of seven (7) days, or the
actual number of days in which Buyer cured its default.

	 	14.3	 	ARBITRATION OF DISPUTES. ANY CLAIM, CONTROVERSY OR DISPUTE, WHETHER
SOUNDING IN CONTRACT, STATUTE, TORT, FRAUD, MISREPRESENTATION OR OTHER LEGAL THEORY,
RELATED DIRECTLY OR INDIRECTLY TO THIS AGREEMENT, WHENEVER BROUGHT AND WHETHER BETWEEN
THE PARTIES TO THIS AGREEMENT OR BETWEEN ONE OF THE PARTIES TO THIS AGREEMENT AND THE
EMPLOYEES, AGENTS OR AFFILIATED BUSINESSES OF THE OTHER PARTY, SHALL BE RESOLVED BY
ARBITRATION AS PRESCRIBED IN THIS SECTION. THE FEDERAL ARBITRATION ACT, 9 U.S.C. §§
1-15, NOT STATE LAW, SHALL GOVERN THE ARBITRABILITY OF ALL CLAIMS, AND THE DECISION OF
THE ARBITRATOR AS TO ARBITRABILITY SHALL BE FINAL.

A SINGLE ARBITRATOR WHO IS A RETIRED FEDERAL OR CALIFORNIA JUDGE SHALL CONDUCT THE
ARBITRATION UNDER THE THEN CURRENT RULES OF THE AMERICAN ARBITRATION ASSOCIATION
(THE “AAA”). THE ARBITRATOR SHALL BE SELECTED BY MUTUAL AGREEMENT ON THE
ARBITRATOR WITHIN THIRTY (30) DAYS OF WRITTEN NOTICE BY ONE PARTY TO THE OTHER
INVOKING THIS ARBITRATION PROVISION, IN ACCORDANCE WITH AAA PROCEDURES FROM A LIST
OF QUALIFIED PEOPLE MAINTAINED BY THE AAA. THE ARBITRATION SHALL BE CONDUCTED IN
SANTA ANA, CALIFORNIA AND ALL EXPEDITED PROCEDURES PRESCRIBED BY THE AAA RULES SHALL
APPLY.

THERE SHALL BE NO DISCOVERY OTHER THAN THE EXCHANGE OF INFORMATION WHICH IS PROVIDED
TO THE ARBITRATOR BY THE PARTIES. THE ARBITRATOR SHALL HAVE AUTHORITY ONLY TO GRANT
SPECIFIC PERFORMANCE AND TO ORDER OTHER EQUITABLE RELIEF AND TO AWARD COMPENSATORY
DAMAGES, BUT SHALL NOT HAVE THE AUTHORITY TO AWARD PUNITIVE DAMAGES OR OTHER
NONCOMPENSATORY DAMAGES OR ANY OTHER FORM OF RELIEF. THE ARBITRATOR SHALL AWARD TO
THE PREVAILING PARTY ITS REASONABLE ATTORNEYS’ FEES AND COSTS AND OTHER EXPENSES
INCURRED IN THE ARBITRATION, EXCEPT THE PARTIES SHALL SHARE EQUALLY THE FEES AND
EXPENSES OF THE ARBITRATOR. THE ARBITRATOR’S DECISION AND AWARD SHALL BE FINAL AND
BINDING, AND JUDGMENT ON THE AWARD RENDERED BY THE ARBITRATOR MAY BE ENTERED IN ANY
COURT HAVING JURISDICTION THEREOF.

	15.	 	Assignment.

Buyer may assign its rights under this Agreement to an entity in which Buyer has a legally
controlling interest, provided, however, that Buyer shall have no such right unless a
written assignment is delivered to Seller no later than 7 business days before Closing; and
further provided that no such assignment shall relieve Buyer of its obligations hereunder.

	16.	 	Interpretation and Applicable Law.

This Agreement shall be construed and interpreted in accordance with the laws of the state
in which the Property is located (the “State”). Where required for proper interpretation,
words in the singular shall include the plural; the masculine gender shall include the
neuter and the feminine, and vice versa. The terms “successors and assigns” shall include
the heirs, administrators, executors, successors, and assigns, as applicable, of any party
hereto.

	17.	 	Amendment.

This Agreement may not be modified or amended, except by an agreement in writing signed by
the parties. The parties may waive any of the conditions contained herein or any of the
obligations of the other party hereunder, but any such waiver shall be effective only if in
writing and signed by the party waiving such conditions and obligations.

	18.	 	Attorney’s Fees.

In the event it becomes necessary for either party to file a suit or arbitration to enforce
this Agreement or any provisions contained herein, the prevailing party shall be entitled to
recover, in addition to all other remedies or damages, reasonable attorneys’ fees and costs
of court incurred in such suit or arbitration.

	19.	 	Entire Agreement; Survival.

This Agreement (and the items to be furnished in accordance herewith) constitutes the entire
agreement between the parties pertaining to the subject matter hereof and supersedes all
prior and contemporaneous agreements and understandings of the parties in connection
therewith. No representation, warranty, covenant, agreement, or condition not expressed in
this Agreement shall be binding upon the parties hereto nor affect or be effective to
interpret, change, or restrict the provisions of this Agreement. All of the obligations of
the parties hereunder and all other provisions of this Agreement shall be deemed to have
merged into the Deed and shall be extinguished at Closing or the earlier termination of this
Agreement, except as expressly provided herein. Notwithstanding anything to the contrary in
this Agreement, the

	20.	 	Multiple Originals only; Counterparts.

Numerous agreements may be executed by the parties hereto. Each such executed copy shall
have the full force and effect of an original executed instrument. This Agreement may be
executed in any number of counterparts, all of which when taken together shall constitute
the entire agreement of the parties.

	21.	 	Acceptance.

Time is of the essence as to all dates set forth in this Agreement. The date of execution
of this Agreement by Seller shall be the date of execution of this Agreement. If the final
date of any period falls upon a Saturday, Sunday, or legal holiday under Federal law, the
laws of the State or the laws of the State of California, then in such event the expiration
date of such period shall be extended to the next day which is not a Saturday, Sunday, or
legal holiday under Federal law, the laws of the State or the State of California.

	22.	 	Real Estate Commission.

Seller and Buyer each represent and warrant to the other that neither Seller nor Buyer has
contracted or entered into any agreement with any real estate broker, agent, finder or any
other party in connection with this transaction, and that neither party has taken any action
which would result in any real estate broker’s, finder’s or other fees or commissions being
due and payable to any party with respect to the transaction contemplated hereby, except
that Seller has contracted with Triple Net Properties Realty, Inc., and Transwestern
Commercial Services as its brokers and will pay any commission due to said brokers under
separate agreement. Buyer shall pay at Closing any commission due to VOIT Commercial
Brokerage under separate agreement. Each party hereby indemnifies and agrees to hold the
other party harmless from any loss, liability, damage, cost, or expense (including
reasonable attorneys’ fees) resulting to the other party by reason of a breach of the
representation and warranty made by such party in this paragraph.

	23.	 	Exchange.

Each of Buyer and Seller reserves the right to structure the sale of the Property as a like
kind exchange pursuant to Section 1031 of the Internal Revenue Code of 1986, as amended. In
such event the party electing a like kind exchange shall have the right to assign its
interest in this Agreement to a qualified exchange intermediary of its choosing to effect
such exchange. The other party shall sign a customary assignment and/or notice of
assignment, however, such assignment shall at no cost or expense to party from whom the
notice is being requested and shall not otherwise affect the term of this Agreement.

	24.	 	Confidentiality.

Buyer agrees that, prior to the closing, all Property information received by Buyer shall be
kept confidential as provided in this paragraph. Without the prior written consent of
Seller, prior to the closing, the Property information shall not be disclosed by Buyer or
its representatives, in any manner whatsoever, in whole or in part, except (1) to Buyer’s
representatives who need to know the Property information for the purpose of evaluating the
Property and who are informed by the Buyer of the confidential nature of the Property
information; (2) as may be necessary for Buyer or Buyer’s representatives to comply with
applicable laws, including, without limitation, governmental, regulatory, disclosure, tax
and reporting requirements; to comply with other requirements and requests of regulatory and
supervisory authorities and self-regulatory organizations having jurisdiction over Buyer or
Buyer’s representatives; to comply with regulatory or judicial processes; or to satisfy
reporting procedures and inquiries of credit rating agencies in accordance with customary
practices of Buyer or its affiliates; and (3) to prospective tenants of the Property.

THE BALANCE OF THIS PAGE IS INTENTIONALLY LEFT BLANK

1

SIGNATURE PAGE FOR

Titan Building and Plaza Agreement for Purchase

and Sale of Real Property and Escrow Instructions

	 	 	EXECUTED on this the      day of      , 2006 by:

	 	 	SELLER:

TREIT — Titan Plaza, L.P.,

a Virginia limited partnership

By: /s/ Louis Rogers

Name: Louis Rogers

Title: President

NNN TITAN 1, LLC, a Texas limited

liability company

By: /s/ Louis Rogers

Name: Louis Rogers

Title: President

NNN TITAN 2, LLC, a Texas limited

liability company

By: /s/ Louis Rogers

Name: Louis Rogers

Title: President

2

NNN TITAN 4, LLC, a Texas limited

liability company

By: /s/ Louis Rogers

Name: Louis Rogers

Title: President

NNN TITAN 5, LLC, a Texas limited

liability company

By: /s/ Louis Rogers

Name: Louis Rogers

Title: President

NNN TITAN 6, LLC, a Texas limited

liability company

By: /s/ Louis Rogers

Name: Louis Rogers

Title: President

NNN TITAN 7, LLC, a Texas limited

liability company

By: /s/ Louis Rogers

Name: Louis Rogers

Title: President

3

NNN TITAN 8, LLC, a Texas limited

liability company

By: /s/ Louis Rogers

Name: Louis Rogers

Title: President

NNN TITAN 9, LLC, a Texas limited

liability company

By: /s/ Louis Rogers

Name: Louis Rogers

Title: President

	 	 	EXECUTED on this the      day of      , 2006 by:

	 	 	BUYER:

CHASE MERRITT, LP,

a Delaware limited partnership

By: /s/ Chad Horning

Name: Chad Horning

Title: President

4Sample Stock Certificate

     

    THE
      STUDIO ZONE, INC.

     

     

    INCORPORATED
      UNDER THE LAWS OF THE STATE OF NEVADA 

     

     

    AUTHORIZED
      SHARES $0.001 PAR VALUE

     

    

    
      	
               

              NUMBER 

               

            	
               

              SHARES

              CUSIP
                

              See
                Reverse

              For
                Certain Definitions

            

    

     

    THIS
      CERTIFIES THAT ______________________________

     

    Is
      The
      Owner of, 

     

    FULLY
      PAID AND NON-ASSESSABLE SHARES OF $0.001 PAR VALUE COMMON STOCK OF

     

    THE
      STUDIO ZONE, INC.

     

    Transferable
      on the books of the Corporation in person or by duly authorized attorney upon
      surrender of this Certificate properly endorsed. This Certificate is not valid
      unless countersigned by the Transfer Agent and registered by the Registrar.
      

     

    IN
      WITNESS WHEREOF, the said Company has caused this Certificate to be executed
      by
      the facsimile signatures of its duly authorized officers and to be sealed with
      the facsimile seal of the Company.

     

    
      	
               

              Dated:

            
	
               

            
	
              ______________________

            	
               

            	
              ________________________

            
	
               

              Secretary

            	
               

              SEAL

            	
               

              President

            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    THE
      STUDIO ZONE, INC.

     

     

    TRANSFER
      FEE: $_________ PER NEW CERTIFICATE ISSUED

     

    The
      following abbreviations when used in the inscription on the face of this
      certificate, shall be construed as though they were written out in full
      according to applicable law or regulations:

     

    TEN
      COM -
      as tenants in common

    TEN
      ENT -
      as tenants by the entireties

    JT
      TEN -
      as joint tenants with right of survivorship and not as tenants in
      common

    UNIF
      GIFT
      MIN ACT - __________ Custodian ___________ (Minor) under Uniform Gifts to Minors
      Act ____________ (State)

     

    Additional
      abbreviations may also be used though not in the above list.

     

    For
      Value
      Received, _________________ hereby sell, assign and transfer unto
      _______________ (Please insert Social Security or other identifying number
      of
      Assignee) 

     

    _________________________________________________________________

     

    (Please
      print or typewrite name and address, including zip code of
      Assignee)

     

    ____________________________________________________________________________________________________________________________________________________________________________________________
      Shares of the Common Stock represented by the within Certificate, and do hereby
      irrevocably constitute and appoint ____________attorney-in-fact to transfer
      the
      said stock on the books of the within-named Corporation, with full power of
      substitution in the premises.

     

    Dated:
      _________________

     

     

    _____________________________________________

     

     

    Notice:
      The signatures to this Assignment must correspond with the name(s) as
      written upon the face of the certificate in every particular, without alteration
      or enlargement
      or any change whatsoever.

     

    Signature(s)
      Guaranteed:

     

     

    ___________________________

     

    The
      signature(s) must be guaranteed by an eligible guarantor institution (Banks,
      Stockbrokers, Savings and Loan Associations and Credit Unions with membership
      in
      an approved signature guarantee Medallion Program), pursuant to S.E.C. Rule
      17Ad-15.

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