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EXHIBIT 10.2    
    

INVESTOR RIGHTS AGREEMENT  

        This Investor Rights Agreement (this "Agreement") is made and entered into as of November 12, 2004 among Transmeridian Exploration, Inc., a Delaware
corporation (the "Company"), and each of the purchasers executing this Agreement and listed on Schedule 1 attached hereto (collectively, the
"Purchasers"). 

        This
Agreement is being entered into pursuant to the Preferred Stock and Warrant Purchase Agreement, dated as of the date hereof, by and among the Company and the Purchasers (the
"Purchase Agreement"). 

        The
Company and the Purchasers hereby agree as follows: 

        1.     Definitions. 

        Capitalized
terms used and not otherwise defined herein shall have the meanings given such terms in the Purchase Agreement. As used in this Agreement, the following terms shall have the
following meanings: 

        "Advice" shall have the meaning set forth in Section 3(m). 

        "Affiliate" means, with respect to any Person, any other Person that directly or indirectly controls or is controlled by or under common
control with such Person. For the purposes of this definition, "control," when used with respect to any Person, means the possession, direct or indirect, of the power to direct or cause the direction
of the management and policies of such Person, whether through the ownership of voting securities, by contract or otherwise; and the terms of "affiliated," "controlling" and "controlled" have meanings
correlative to the foregoing. 

        "Blackout Period" shall have the meaning set forth in Section 3(n). 

        "Board" shall have the meaning set forth in Section 3(n). 

        "Business Day" means any day except Saturday, Sunday and any day which shall be a legal holiday or a day on which banking institutions in
the State of Texas generally are authorized or required by law or other government actions to close. 

        "Closing Date" means the Closing Date as defined in the Purchase Agreement. 

        "Commission" means the Securities and Exchange Commission. 

        "Common Stock" means the Company's Common Stock, par value $0.0006 per share. 

        "Effectiveness Period" shall have the meaning set forth in Section 2. 

        "Event" shall have the meaning set forth in Section 8(e). 

        "Exchange Act" means the Securities Exchange Act of 1934, as amended. 

        "Filing Date" means the 45th day following the Closing Date. 

        "Holder" or "Holders" means the holder or holders, as the case may be, from time to time
of Registrable Securities, including without limitation the Purchasers and their assignees. 

        "Indemnified Party" shall have the meaning set forth in Section 5(c). 

        "Indemnifying Party" shall have the meaning set forth in Section 5(c). 

        "Losses" shall have the meaning set forth in Section 5(a). 

        "Person" means an individual or a corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited
liability company, joint stock company, government (or an agency or political subdivision thereof) or other entity of any kind. 

 

        "Proceeding" means an action, claim, suit, investigation or proceeding (including, without limitation, an investigation or partial
proceeding, such as a deposition), whether commenced or threatened. 

        "Prospectus" means the prospectus included in any Registration Statement (including, without limitation, a prospectus that includes any
information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated under the Securities Act), as amended or
supplemented by any prospectus supplement, with respect to the terms of the offering of any portion of the Registrable Securities covered by such Registration Statement, and all other amendments and
supplements to the Prospectus, including post-effective amendments, and all material incorporated by reference in such Prospectus. 

        "Registrable Securities" means (a) the Conversion Shares and the Warrant Shares (without regard to any limitations on beneficial
ownership contained in the Certificate of Designation or Warrants) or other securities issued or issuable to each Purchaser or its transferee or designee (i) upon conversion of the Preferred
Stock and/or upon exercise of the Warrants, or (ii) upon any dividend or distribution with respect to, any exchange for or any replacement of such Preferred Stock or Warrants or
(iii) upon any conversion, exercise or exchange of any securities issued in connection with any such distribution, exchange or replacement; (b) securities issued or issuable upon any
stock split, stock dividend, recapitalization or similar event with respect to the foregoing; and (c) any other security issued as a dividend or other distribution with respect to, in exchange
for, in replacement or redemption of, or in reduction of the liquidation value of, any of the securities referred to in the preceding clauses; provided, however, that such securities shall cease to be
Registrable Securities when such securities have been sold to or through a broker or dealer or underwriter in a public distribution or a public securities transaction or when such securities may be
sold without any restriction pursuant to Rule 144(k) as determined by the counsel to the Company pursuant to a written opinion letter, addressed to the Company's transfer agent to such effect
as described in Section 2 of this Agreement. 

        "Registration Statement" means the registration statements and any additional registration statements contemplated by Section 2,
including (in each case) the Prospectus, amendments and supplements to such registration statement or Prospectus, including pre- and post-effective amendments, all exhibits
thereto, and all material incorporated by reference in such registration statement. 

        "Rule 144" means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from
time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 

        "Rule 158" means Rule 158 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from
time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 

        "Rule 415" means Rule 415 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from
time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 

        "Securities Act" means the Securities Act of 1933, as amended. 

        "Special Counsel" means Wiggin and Dana LLP. 

        "Warrant Shares" means the shares of Common Stock issuable upon the exercise of the warrants issued or to be issued to the Purchasers or
their assignees or designees in connection with the offering consummated under the Purchase Agreement. 

        2.     Registration. As soon as possible following the Closing Date (but not later than the Filing Date), the Company shall
prepare and file with the Commission a "shelf" Registration Statement 

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covering
all Registrable Securities for a secondary or resale offering to be made on a continuous basis pursuant to Rule 415. The Registration Statement shall be on Form S-3
(or if such form is not available to the Company on another form appropriate for such registration in accordance herewith). The Company shall use its best efforts to cause the Registration Statement
to be declared effective under the Securities Act not later than one hundred and twenty (120) days after the Closing Date (including filing with the Commission a request for acceleration of
effectiveness in accordance with Rule 461 promulgated under the Securities Act within five (5) Business Days of the date that the Company is notified (orally or in writing, whichever is
earlier) by the Commission that a Registration Statement will not be "reviewed," or not be subject to further review) and to keep such Registration Statement continuously effective under the
Securities Act until such date as is the earlier of (x) the date when all Registrable Securities covered by such Registration Statement have been sold or (y) the date on which the
Registrable Securities may be sold without any restriction pursuant to Rule 144(k) as determined by the counsel to the Company pursuant to a written opinion letter, addressed to the Company's
transfer agent to such effect (the "Effectiveness Period"). Upon the initial filing thereof, the Registration Statement shall cover at least 100% of the shares of Common Stock for issuance upon the
conversion of the Preferred Stock and 100% of the shares of Common Stock for issuance upon the exercise of the Warrants. Such Registration Statement also shall cover, to the extent allowable under the
Securities Act and the Rules promulgated thereunder (including Securities Act Rule 416), such indeterminate number of additional shares of Common Stock resulting from stock splits, stock
dividends or similar transactions with respect to the Registrable Securities. 

        3.     Registration Procedures. 

        In
connection with the Company's registration obligations hereunder, the Company shall: 

        (a)   Prepare
and file with the Commission on or prior to the Filing Date, a Registration Statement on Form S-3 (or if such form is not available to the
Company on another form appropriate for such registration in accordance herewith) (which shall include a Plan of Distribution substantially in the form of  Exhibit A attached hereto), and cause the
Registration Statement to become effective and remain effective as provided herein; provided, however,
that not less than three (3) Business Days prior to the filing of the Registration Statement or any related Prospectus or any amendment or supplement thereto, the Company shall
(i) furnish to the Special Counsel, copies of all such documents proposed to be filed, which documents (other than those incorporated by reference) will be subject to the review of such Special
Counsel, and (ii) at the request of any Holder cause its officers and directors, counsel or independent certified public accountants, as applicable, to respond to such inquiries as shall be
necessary, in the reasonable opinion of counsel to such Holders, to conduct a reasonable investigation within the meaning of the Securities Act. The Company shall not file the Registration Statement
or any such Prospectus or any amendments or supplements thereto to which the Holders of a majority of the Registrable Securities or the Special Counsel shall reasonably object within three
(3) Business Days after the Special Counsel's receipt thereof. 

        (b)   (i) Prepare
and file with the Commission such amendments, including post-effective amendments, to the Registration Statement as may be necessary to
keep the Registration Statement continuously effective as to the applicable Registrable Securities for the Effectiveness Period and to the extent any Registrable Securities are not included in such
Registration Statement for reasons other than the failure of the Holder to comply with Section 3(m) hereof, shall prepare and file with the Commission such additional Registration Statements in
order to register for resale under the Securities Act all Registrable Securities; (ii) cause the related Prospectus to be amended or supplemented by any required Prospectus supplement, and as
so supplemented or amended to be filed pursuant to Rule 424 (or any similar provisions then in force) promulgated under the Securities Act; (iii) respond as promptly as possible, and in
no event later than 10 business days, to any comments received from the Commission with respect to the Registration Statement or any amendment thereto and as promptly as possible provide the Holders
true and complete copies of all correspondence from and to the 

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Commission
relating to the Registration Statement; and (iv) comply in all material respects with the provisions of the Securities Act and the Exchange Act with respect to the disposition of all
Registrable Securities covered by the Registration Statement during the Effectiveness Period in accordance with the intended methods of disposition by the Holders thereof set forth in the Registration
Statement as so amended or in such Prospectus as so supplemented. 

        (c)   Notify
the Holders of Registrable Securities to be sold and the Special Counsel as promptly as possible (A) when a Prospectus or any Prospectus supplement or
post-effective amendment to the Registration Statement is proposed to be filed (but in no event in the case of this subparagraph (A), less than three (3) Business Days prior to date
of such filing); (B) when the Commission notifies the Company whether there will be a "review" of such Registration Statement and whenever the Commission comments in writing on such
Registration Statement; and (C) with respect to the Registration Statement or any post-effective amendment, when the same has become effective, and after the effectiveness thereof:
(i) of any request by the Commission or any other Federal or state governmental authority for amendments or supplements to the Registration Statement or Prospectus or for additional
information; (ii) of the issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement covering any or all of the Registrable Securities or the
initiation of any Proceedings for that purpose; (iii) if at any time any of the representations and warranties of the Company contained in any agreement contemplated hereby ceases to be true
and correct in all material respects; (iv) of the receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of the
Registrable Securities for sale in any jurisdiction, or the initiation or threatening of any Proceeding for such purpose; and (v) if the financial statements included in the Registration
Statement become ineligible for inclusion therein or of the occurrence of any event that makes any statement made in the Registration Statement or Prospectus or any document incorporated or deemed to
be incorporated therein by reference untrue in any material respect or that requires any revisions to the Registration Statement, Prospectus or other documents so that, in the case of the Registration
Statement or the Prospectus, as the case may be, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the
statements therein, in the light of the circumstances under which they were made, not misleading. 

        (d)   Use
its best efforts to avoid the issuance of, or, if issued, use best efforts to obtain the withdrawal of, (i) any order suspending the effectiveness of the
Registration Statement or (ii) any suspension of the qualification (or exemption from qualification) of any of the Registrable Securities for sale in any jurisdiction, at the earliest
practicable moment. 

        (e)   If
reasonably requested by the Holders of a majority in interest of the Registrable Securities, (i) promptly incorporate in a Prospectus supplement or
post-effective amendment to the Registration Statement such information as the Company reasonably agrees should be included therein and (ii) make all required filings of such
Prospectus supplement or such post-effective amendment as soon as practicable after the Company has received notification of the matters to be incorporated in such Prospectus supplement or
post-effective amendment; provided, however, that the Company shall not be required to take any action pursuant to this Section 3(e) that would, in the written opinion of counsel
for the Company (addressed to the Special Counsel), violate applicable law. 

        (f)    Furnish
to each Holder and the Special Counsel, without charge, at least one conformed copy of each Registration Statement and each amendment thereto, including
financial statements and schedules, and all exhibits to the extent requested by such Person (including those previously furnished or incorporated by reference) promptly after the filing of such
documents with the Commission. 

        (g)   Promptly
deliver to each Holder and the Special Counsel, without charge, as many copies of the Prospectus or Prospectuses (including each form of prospectus) and each
amendment or supplement thereto as such Persons may reasonably request; and the Company hereby consents to the 

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use
of such Prospectus and each amendment or supplement thereto by each of the selling Holders in connection with the offering and sale of the Registrable Securities covered by such Prospectus and any
amendment or supplement thereto. 

        (h)   Prior
to any public offering of Registrable Securities, use its reasonable commercial efforts to register or qualify or cooperate with the selling Holders and the
Special Counsel in connection with the registration or qualification (or exemption from such registration or qualification) of such Registrable Securities for offer and sale under the securities or
Blue Sky laws of such jurisdictions within the United States as any Holder requests in writing, to keep each such registration or qualification (or exemption therefrom) effective during the
Effectiveness Period and to do any and all other acts or things necessary or advisable to enable the disposition in such jurisdictions of the Registrable Securities covered by a Registration
Statement; provided, however, that the Company shall not be required to qualify generally to do business in any jurisdiction where it is not then so qualified or to take any action that would subject
it to general service of process in any jurisdiction where it is not then so subject or subject the Company to any material tax in any such jurisdiction where it is not then so subject. 

        (i)    Cooperate
with the Holders to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold pursuant to a Registration
Statement, which certificates shall be free, to the extent permitted by applicable law and the Purchase Agreement, of all restrictive legends, and to enable such Registrable Securities to be in such
denominations and registered in such names as any Holder may request at least two (2) Business Days prior to any sale of Registrable Securities. In connection therewith, the Company shall
promptly after the effectiveness of the Registration Statement cause an opinion of counsel to be delivered to and maintained with its transfer agent, together with any other authorizations,
certificates and directions required by the transfer agent, which authorize and direct the transfer agent to issue such Registrable Securities without legend upon sale by the Holder of such shares of
Registrable Securities under the Registration Statement. 

        (j)    Upon
the occurrence of any event contemplated by Section 3(c)(C)(v), as promptly as possible, prepare a supplement or amendment, including a
post-effective amendment, to the Registration Statement or a supplement to the related Prospectus or any document incorporated or deemed to be incorporated therein by reference, and file
any other required document so that, as thereafter delivered, neither the Registration Statement nor such Prospectus will contain an untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. 

        (k)   Cause
all Registrable Securities relating to such Registration Statement to be listed on any United States securities exchange, quotation system, market or
over-the-counter bulletin board, if any, on which similar securities issued by the Company are then listed as and when required pursuant to the Purchase Agreement. 

        (l)    Comply
in all material respects with all applicable rules and regulations of the Commission and make generally available to its security holders earning statements
satisfying the provisions of Section 11(a) of the Securities Act and Rule 158 not later than 45 days after the end of any 3-month period (or 90 days after the
end of any 12-month period if such period is a fiscal year) commencing on the first day of the first fiscal quarter of the Company after the effective date of the Registration Statement,
which statement shall conform to the requirements of Rule 158. 

        (m)  Request
each selling Holder to furnish to the Company information regarding such Holder and the distribution of such Registrable Securities as is required by law or the
Commission to be disclosed in the Registration Statement, and the Company may exclude from such registration the Registrable Securities of any such Holder who fails to furnish such information within
a reasonable 

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time
prior to the filing of each Registration Statement, supplemented Prospectus and/or amended Registration Statement. 

        If
the Registration Statement refers to any Holder by name or otherwise as the holder of any securities of the Company, then such Holder shall have the right to require (if such
reference to such Holder by name or otherwise is not required by the Securities Act or any similar federal statute then in force) the deletion of the reference to such Holder in any amendment or
supplement to the Registration Statement filed or prepared subsequent to the time that such reference ceases to be required. 

        Each
Holder agrees by its acquisition of such Registrable Securities that, upon receipt of a notice from the Company of the occurrence of any event of the kind described in
Section 3(c)(C)(i), 3(c)(C)(ii), 3(c)(C)(iii), 3(c)(C)(iv), 3(c)(C)(v) or 3(n), such Holder will forthwith discontinue disposition of such Registrable Securities under the Registration
Statement until such Holder's receipt of the copies of the supplemented Prospectus and/or amended Registration Statement contemplated by Section 3(j), or until it is advised in writing (the
"Advice") by the Company that the use of the applicable Prospectus may be resumed, and, in either case, has received copies of any additional or supplemental filings that are incorporated or deemed to
be incorporated by reference in such Prospectus or Registration Statement. 

        (n)   If
(i) there is material non-public information regarding the Company which the Company's Board of Directors (the "Board") reasonably determines not
to be in the Company's best interest to disclose and which the Company is not otherwise required to disclose, or (ii) there is a significant business opportunity (including, but not limited to,
the acquisition or disposition of assets (other than in the ordinary course of business) or any merger, consolidation, tender offer or other similar transaction) available to the Company which the
Board reasonably determines not to be in the Company's best interest to disclose and which the Company would be required to disclose under the Registration Statement, then the Company may postpone or
suspend filing or effectiveness of a registration statement for a period not to exceed 30 consecutive days, provided that the Company may not postpone or suspend its obligation under this
Section 3(n) for more than 45 days in the aggregate during any 12 month period (each, a "Blackout Period"). The payment requirements set forth in Sections 8(e) and
(f) shall be tolled during and shall not be applicable with respect to any Blackout Period. 

        4.     Registration Expenses. 

        All
fees and expenses incident to the performance of or compliance with this Agreement by the Company shall be borne by the Company whether or not the Registration Statement is filed or
becomes effective and whether or not any Registrable Securities are sold pursuant to the Registration Statement. The fees and expenses referred to in the foregoing sentence shall include, without
limitation, (i) all registration and filing fees (including, without limitation, fees and expenses (A) with respect to filings required to be made with each securities exchange,
quotation system, market or over-the-counter bulletin board on which Registrable Securities are required hereunder to be listed, (B) with respect to filings required to
be made with the Commission, and (C) in compliance with state or provincial securities or Blue Sky laws (including, without limitation, fees and disbursements of Special Counsel in connection
with Blue Sky qualifications of the Registrable Securities and determination of the eligibility of the Registrable Securities for investment under the laws of such jurisdictions as the Holders of a
majority of Registrable Securities may designate)), (ii) printing expenses (including, without limitation, expenses of printing certificates for Registrable Securities and of printing or
photocopying prospectuses), (iii) messenger, telephone and delivery expenses, (iv) Securities Act liability insurance, if the Company so desires such insurance, (v) fees and
expenses of all other Persons retained by the Company in connection with the consummation of the transactions contemplated by this Agreement, including, without limitation, the Company's independent
public 

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accountants
(including, in the case of an underwritten offering, the expenses of any comfort letters or costs associated with the delivery by independent public accountants of a comfort letter or
comfort letters) and legal counsel, and (vi) fees and expenses of the Special Counsel in connection with any Registration Statement hereunder. In addition, the Company shall be responsible for
all of its internal expenses incurred in connection with the consummation of the transactions contemplated by this Agreement (including, without limitation, all salaries and expenses of its officers
and employees performing legal or accounting duties), the expense of any annual audit, the fees and expenses incurred in connection with the listing of the Registrable Securities on any securities
exchange as required hereunder. Notwithstanding the foregoing, the Holders shall pay all underwriting discounts or commissions, selling commissions and stock transfer taxes attributable to any sale of
Registrable Securities. 

        5.     Indemnification. 

        (a)   Indemnification by the Company. The Company shall, notwithstanding any termination of this Agreement, indemnify and hold
harmless each Holder, the officers, directors, partners, agents, brokers (including brokers who offer and sell Registrable Securities as principal as a result of a pledge or any failure to perform
under a margin call of Common Stock), investment advisors and employees of each of them, each Person who controls any such Holder (within the meaning of Section 15 of the Securities Act or
Section 20 of the Exchange Act) and the officers, directors, agents and employees of each such controlling Person, to the fullest extent permitted by applicable law, from and against any and
all losses, claims, damages, liabilities, costs (including, without limitation, costs of preparation and reasonable attorneys' fees) and expenses (collectively, "Losses"), as incurred, arising out of
or relating to any untrue or alleged untrue statement of a material fact contained or incorporated by reference in the Registration Statement, any Prospectus or any form of prospectus or in any
amendment or supplement thereto or in any preliminary prospectus, or arising out of or relating to any omission or alleged omission of a material fact required to be stated therein or necessary to
make the statements therein (in the case of any Prospectus or form of prospectus or amendment or supplement thereto, in the light of the circumstances under which they were made) not misleading,
except to the extent, but only to the extent, that (i) such untrue statements or omissions are based solely upon information regarding such Holder furnished in writing to the Company by such
Holder expressly for use therein, which information was reasonably relied on by the Company for use therein or to the extent that such information relates to (x) such Holder and was reviewed
and expressly approved in writing by such Holder expressly for use in the Registration Statement, such Prospectus or such form of prospectus or in any amendment or supplement thereto or
(y) such Holder's proposed method of distribution of Registrable Securities as set forth in Exhibit A (or as such Holder otherwise informs the Company in writing); or (ii) in the
case of an occurrence of an event of the type described in Section 3(c)(C)(ii), 3(c)(C)(iii), 3(c)(C)(iv), 3(c)(C)(v) or 3(n), the use by a Holder of an outdated or defective Prospectus
after the delivery to the Holder of written notice from the Company that the Prospectus is outdated or defective and prior to the receipt by such Holder of the Advice contemplated in
Section 3(m). The Company shall notify the Holders promptly of the institution, threat or assertion of any Proceeding of which the Company is aware in connection with the transactions
contemplated by this Agreement. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of an Indemnified Party (as defined in Section 5(c) to
this Agreement) and shall survive the transfer of the Registrable Securities by the Holders. 

        (b)   Indemnification by Holders. Each Holder shall, severally and not jointly, indemnify and hold harmless the Company, its
directors, officers, agents and employees, each Person who controls the Company (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the
directors, officers, agents and employees of such controlling Persons, to the fullest extent permitted by applicable law, from and against all Losses, as incurred, arising solely out of or based
solely upon any untrue statement of a material fact contained in the Registration Statement, any Prospectus, or any form of prospectus, or in any amendment or supplement thereto, or arising solely 

7

 

out
of or based solely upon any omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of any Prospectus or form of prospectus or supplement
thereto, in the light of the circumstances under which they were made) not misleading, to the extent, but only to the extent, that (i) such untrue statement or omission is contained in or
omitted from any information so furnished in writing by such Holder to the Company specifically for inclusion in the Registration Statement or such Prospectus and that such information was reasonably
relied upon by the Company for use in the Registration Statement, such Prospectus, or in any amendment or supplement thereto, or to the extent that such information relates to (x) such Holder
and was reviewed and expressly approved in writing by such Holder expressly for use in the Registration Statement, such Prospectus, or such form of prospectus or in any amendment or supplement thereto
or (y) such Holder's proposed method of distribution of Registrable Securities as set forth in Exhibit A (or as such Holder otherwise informs the Company in writing) or (ii) in
the case of an occurrence of an event of the type described in Section 3(c)(C)(ii), 3(c)(C)(iii), 3(c)(C)(iv), 3(c)(C)(v) or 3(n), the use by a Holder of an outdated or defective
Prospectus after the delivery to the Holder of written notice from the Company that the Prospectus is outdated or defective and prior to the receipt by such Holder of the Advice contemplated in
Section 3(m); provided, however, that the indemnity agreement contained in this Section 5(b) shall not apply to amounts paid in settlement of any Losses if such settlement is effected
without the prior written consent of the Holder, which consent shall not be unreasonably withheld. Notwithstanding anything to the contrary contained herein, the Holder shall be liable under this
Section 5(b) for only that amount as does not exceed the net proceeds to such Holder as a result of the sale of Registrable Securities pursuant to such Registration Statement. 

        (c)   Conduct of Indemnification Proceedings. If any Proceeding shall be brought or asserted against any Person entitled to
indemnity hereunder (an "Indemnified Party"), such Indemnified Party promptly shall notify the Person from whom indemnity is sought (the "Indemnifying Party") in writing, and the Indemnifying Party
shall assume the defense thereof, including the employment of counsel reasonably satisfactory to the Indemnified Party and the payment of all reasonable fees and expenses incurred in connection with
defense thereof; provided, that the failure of any Indemnified Party to give such notice shall not relieve the Indemnifying Party of its obligations or liabilities pursuant to this Agreement, except
(and only) to the extent that it shall be finally determined by a court of competent jurisdiction (which determination is not subject to appeal or further review) that such failure shall have
proximately and materially adversely prejudiced the Indemnifying Party. 

        An
Indemnified Party shall have the right to employ separate counsel in any such Proceeding and to participate in the defense thereof, but the fees and expenses of such counsel shall be
at the expense of such Indemnified Party or Parties unless: (1) the Indemnifying Party has agreed in writing to pay such fees and expenses; or (2) the Indemnifying Party shall have
failed promptly to assume the defense of such Proceeding and to employ counsel reasonably satisfactory to such Indemnified Party in any such Proceeding; or (3) the named parties to any such
Proceeding (including any impleaded parties) include both such Indemnified Party and the Indemnifying Party, and such Indemnified Party shall have been advised by counsel that a conflict of interest
is likely to exist if the same counsel were to represent such Indemnified Party and the Indemnifying Party (in which case, if such Indemnified Party notifies the Indemnifying Party in writing that it
elects to employ separate counsel at the expense of the Indemnifying Party, the Indemnifying Party shall not have the right to assume the defense thereof and such counsel shall be at the reasonable
expense of the Indemnifying Party). The Indemnifying Party shall not be liable for any settlement of any such Proceeding effected without its written consent, which consent shall not be unreasonably
withheld. No Indemnifying Party shall, without the prior written consent of the Indemnified Party, effect any settlement of any pending Proceeding in respect of which any Indemnified Party is a party,
unless such settlement includes an unconditional release of such Indemnified Party from all liability on claims that are the subject matter of such Proceeding and does not impose any monetary or other
obligation or restriction on the Indemnified Party. 

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        The
Indemnifying Party shall pay all reasonable fees and expenses of the Indemnified Party (including reasonable fees and expenses to the extent incurred in connection with investigating
or preparing to defend such Proceeding in a manner not inconsistent with this Section), as incurred, within ten (10) Business Days of written notice thereof to the Indemnifying Party, which
notice shall be delivered no more frequently than on a monthly basis (regardless of whether it is ultimately determined that an Indemnified Party is not entitled to indemnification hereunder;
provided, that the Indemnifying Party may require such Indemnified Party to undertake to reimburse all such fees and expenses to the extent it is finally judicially determined that such Indemnified
Party is not entitled to indemnification hereunder). 

        (d)   Contribution. If a claim for indemnification under Section 5(a) or 5(b) is unavailable to an Indemnified Party
because of a failure or refusal of a governmental authority to enforce such indemnification in accordance with its terms (by reason of public policy or otherwise), then each Indemnifying Party, in
lieu of indemnifying such Indemnified Party, shall contribute to the amount paid or payable by such Indemnified Party as a result of such Losses, in such proportion as is appropriate to reflect the
relative fault of the Indemnifying Party and Indemnified Party in connection with the actions, statements or omissions that resulted in such Losses as well as any other relevant equitable
considerations. The relative fault of such Indemnifying Party and Indemnified Party shall be determined by reference to, among other things, whether any action in question, including any untrue or
alleged untrue statement of a material fact or omission or alleged omission of a material fact, has been taken or made by, or relates to information supplied by, such Indemnifying Party or Indemnified
Party, and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such action, statement or omission. The amount paid or payable by a party as a result of
any Losses shall be deemed to include, subject to the limitations set forth in Section 5(c), any reasonable attorneys' or other reasonable fees or expenses incurred by such party in connection
with any Proceeding to the extent such party would have been indemnified for such fees or expenses if the indemnification provided for in this Section was available to such party in accordance with
its terms. Notwithstanding anything to the contrary contained herein, the Holder shall be required to contribute under this Section 5(d) for only that amount as does not exceed the net proceeds
to such Holder as a result of the sale of Registrable Securities pursuant to such Registration Statement. 

        The
parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 5(d) were determined by pro rata allocation or by any other method of
allocation that does not take into account the equitable considerations referred to in the immediately preceding paragraph. No Person guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. 

        The
indemnity and contribution agreements contained in this Section are in addition to any liability that the Indemnifying Parties may have to the Indemnified Parties. The indemnity and
contribution agreements herein are in addition to and not in diminution or limitation of any indemnification provisions under the Purchase Agreement. 

        6.     Rule 144. 

        As
long as any Holder owns Preferred Stock, Conversion Shares, Warrants or Warrant Shares, the Company covenants to timely file (or obtain extensions in respect thereof and file within
the applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to Section 13(a) or 15(d) of the Exchange Act. As long as any Holder owns Preferred
Stock, Conversion Shares, Warrants or Warrant Shares, if the Company is not required to file reports pursuant to Section 13(a) or 15(d) of the Exchange Act, it will prepare and furnish to the
Holders and make publicly available in accordance with Rule 144(c) promulgated under the Securities Act annual and quarterly financial statements, together with a discussion and analysis of
such financial statements in 

9

 

form
and substance substantially similar to those that would otherwise be required to be included in reports required by Section 13(a) or 15(d) of the Exchange Act, as well as any other
information required thereby, in the time period that such filings would have been required to have been made under the Exchange Act. The Company further covenants that it will take such further
action as any Holder may reasonably request in writing, all to the extent required from time to time to enable such Person to sell Conversion Shares and Warrant Shares without registration under the
Securities Act within the limitation of the exemptions provided by Rule 144 promulgated under the Securities Act, including compliance with the provisions of the Purchase Agreement relating to
the transfer of the Conversion Shares and Warrant Shares. Upon the request of any Holder, in writing, the Company shall deliver to such Holder a written certification of a duly authorized officer as
to whether it has complied with such requirements. 

        7.     Approval of Certain Transactions. 

        (a)   As
long as at least 20% of the number of shares of Preferred Stock issued on the Closing Date are outstanding, the consent of the holders of at least 75% of the shares
of Preferred Stock, at the time outstanding, given in accordance with the Certificate of Incorporation and Bylaws of the Company, as amended, shall be necessary for effecting or validating (whether by
merger, consolidation or otherwise) any restructuring, incurrence, creation or assumption by the Company of, or the Company otherwise becoming or remaining liable with respect to, any Indebtedness,
including guarantees of Indebtedness of others and reimbursement obligations, whether contingent or matured, under letters of credit or other financial guarantees by third parties (or becoming
contractually committed to doing so) in excess of $1,000,000 in the aggregate. For purposes of this Section 7, "Indebtedness" means all funding obligations, contingent or otherwise. 

        (b)   The
approval of the holders of Preferred Stock required by Section 7(a), to the extent required thereby, of any financing and /or restructuring of debt of any
joint venture or subsidiary in which the Company is a shareholder or partner as of the date hereof which debt is jointly and severally guaranteed or secured by the Company up to a maximum exposure of
the Company of $50 million shall not be unreasonably withheld or delayed. 

        (c)   The
holders of Preferred Stock shall, in connection with the approval required by Section 7(a), review the terms and conditions of any other asset-based bank
financing proposed by the Company in good faith and with the objective of maximizing the Company's value. 

        8.     Miscellaneous. 

        (a)   Remedies. In the event of a breach by the Company or by a Holder, of any of their obligations under this Agreement, each
Holder or the Company, as the case may be, in addition to being entitled to exercise all rights granted by law and under this Agreement, including recovery of damages, will be entitled to specific
performance of its rights under this Agreement. The Company and each Holder agree that monetary damages would not provide adequate compensation for any losses incurred by reason of a breach by it of
any of the provisions of this Agreement and hereby further agrees that, in the event of any action for specific performance in respect of such breach, it shall waive the defense that a remedy at law
would be adequate. 

        (b)   No Inconsistent Agreements. Except as otherwise disclosed in the Purchase Agreement, neither the Company nor any of its
subsidiaries is a party to an agreement currently in effect, nor shall the Company or any of its subsidiaries, on or after the date of this Agreement, enter into any agreement with respect to its
securities that is inconsistent with the rights granted to the Holders in this Agreement or otherwise conflicts with the provisions hereof. Without limiting the generality of the foregoing, without
the written consent of the Holders of a majority of the then outstanding Registrable Securities, the Company shall not grant to any Person the right to request the Company to register any securities
of the Company under the Securities Act unless the rights so granted are subject in all 

10

 

respects
to the prior rights in full of the Holders set forth herein, and are not otherwise in conflict with the provisions of this Agreement. 

        (c)   Notice of Effectiveness. Within two (2) Business Days after the Registration Statement which includes the
Registrable Securities is ordered effective by the Commission, the Company shall deliver, and shall cause legal counsel for the Company to deliver, to the transfer agent for such Registrable
Securities (with copies to the Holders whose Registrable Securities are included in such Registration Statement) confirmation that the Registration Statement has been declared effective by the
Commission in the form attached hereto as Exhibit B. 

        (d)   Piggy-Back Registrations. If at any time when there is not an effective Registration Statement covering all
of the Registrable Securities, the Company shall determine to prepare and file with the Commission a registration statement relating to an offering for its own account or the account of others under
the Securities Act of any of its equity securities, other than on Form S-4 or Form S-8 (each as promulgated under the Securities Act) or its then equivalents
relating to equity securities to be issued solely in connection with any acquisition of any entity or business or equity securities issuable in connection with stock option or other employee benefit
plans, the Company shall send to each Holder of Registrable Securities written notice of such determination and, if within seven (7) Business Days after receipt of such notice, any such Holder
shall so request in writing (which request shall specify the Registrable Securities intended to be disposed of by the Holder), the Company will cause the registration under the Securities Act of all
Registrable Securities which the Company has been so requested to register by the Holder, to the extent required to permit the disposition of the Registrable Securities so to be registered, provided
that if at any time after giving written notice of its intention to register any securities and prior to the effective date of the registration statement filed in connection with such registration,
the Company shall determine for any reason not to register or to delay registration of such securities, the Company may, at its election, give written notice of such determination to such Holder and,
thereupon, (i) in the case of a determination not to register, shall be relieved of its obligation to register any Registrable Securities in connection with such registration (but not from its
obligation to pay expenses in accordance with Section 4 hereof), and (ii) in the case of a determination to delay registering, shall be permitted to delay registering any Registrable
Securities being registered pursuant to this Section 8(d) for the same period as the delay in registering such other securities. The Company shall include in such registration statement all or
any part of such Registrable Securities such Holder requests to be registered; provided, however, that the Company shall not be required to register any Registrable Securities pursuant to this
Section 8(d) that are eligible for sale pursuant to Rule 144(k) of the Securities Act. In the case of an underwritten public offering, if the managing underwriter(s) or underwriter(s)
should reasonably object to the inclusion of the Registrable Securities in such registration statement, then if the Company after consultation with the managing underwriter should reasonably determine
that the inclusion of such Registrable Securities, would materially adversely affect the offering contemplated in such registration statement, and based on such determination recommends inclusion in
such registration statement of fewer or none of the Registrable Securities of the Holders, then (x) the number of Registrable Securities of the Holders included in such registration statement
shall be reduced pro-rata among such Holders (based upon the number of Registrable Securities requested to be included in the registration), if the Company after consultation with the
underwriter(s) recommends the inclusion of fewer Registrable Securities, or (y) none of the Registrable Securities of the Holders shall be included in such registration statement, if the
Company after consultation with the underwriter(s) recommends the inclusion of none of such Registrable Securities; provided, however, that if securities are being offered for the account of other
persons or entities as well as the Company, such reduction shall not represent a greater fraction of the number of Registrable Securities intended to be offered by the Holders than the fraction of
similar reductions imposed on such other persons or entities (other than the Company). 

11

 

        (e)   Failure to File Registration Statement and Other Events. The Company and the Holders agree that the Holders will suffer
damages if the Registration Statement is not filed on or prior to the Filing Date and maintained in the manner contemplated herein during the Effectiveness Period. The Company and the Holders further
agree that it would not be feasible to ascertain the extent of such damages with precision. Accordingly, if (i) the Registration Statement is not filed on or prior to the Filing Date, or
(ii) except as otherwise permitted herein, the Company intentionally and willfully fails to file with the Commission a request for acceleration in accordance with Rule 461 promulgated
under the Securities Act within five (5) Business Days of the date that the Company is notified (orally or in writing, whichever is earlier) by the Commission that a Registration Statement will
not be "reviewed," or not subject to further review, or (iii) the Registration Statement is filed with and declared effective by the Commission but thereafter ceases to be effective as to all
Registrable Securities at any time prior to the expiration of the Effectiveness Period due to an intentional and willful act by the Company, without being succeeded immediately by a subsequent
Registration Statement filed with the Commission, except as otherwise permitted by this Agreement, including pursuant to Section 3(n), or (iv) trading in the Common Stock shall be
suspended or if the Common Stock is delisted from any securities exchange, quotation system, market or over-the-counter bulletin board on which Registrable Securities are
listed (each an "Exchange"), without immediately being listed on any other Exchange, for any reason for more than one (1) Business Day, other than pursuant to Section 3(n), due to an
intentional and willful act by the Company, or (v) the conversion rights of the Holders are suspended due to an intentional and willful act by the Company without the consent of the particular
Holder other than as set forth in the Certificate of Designation, or (vi) the Company has breached Section 3(n) of this Agreement (any such failure or breach being referred to as an
"Event"), the Company shall pay in cash as liquidated damages for such failure and not as a penalty to each Holder an amount equal to three percent (3%) of such Holder's Purchase Price for Preferred
Stock purchased and then outstanding pursuant to the Purchase Agreement and one and one-half percent (1.5%) of such Holder's Purchase Price for Preferred Stock purchased and then
outstanding pursuant to the Purchase Agreement for each subsequent thirty (30) day period until the applicable Event has been cured which shall be pro rated for such periods less than thirty
days (the "Periodic Amount"). Payments to be made pursuant to this Section 8(e) shall be due and payable immediately upon demand in immediately available cash funds. The parties agree that the
Periodic Amount represents a reasonable estimate on the part of the parties, as of the date of this Agreement, of the amount of damages that will be incurred by the Holders if the Registration
Statement is not filed on or prior to the forty-fifth (45th) day following the Closing Date and maintained in the manner contemplated herein during the Effectiveness Period or if any other Event as
described herein has occurred. Notwithstanding the foregoing, the Company shall remain obligated to cure the breach or correct the condition that caused the Event, and the Holder shall have the right
to take any action necessary or desirable to enforce such obligation. 

        (f)    Failure of Registration Statement to Become Effective. The Company and the Holders agree that the Holders will suffer
damages if the Registration Statement is not declared effective on or prior to the one hundred twentieth (120th) day following the Closing Date. The Company and the Holders further agree that it would
not be feasible to ascertain the extent of such damages with precision. Accordingly, if the Registration Statement is not declared effective within one-hundred and twenty (120) days
after the Closing Date, the Company shall pay in cash as liquidated damages for such failure and not as a penalty to each Holder an amount equal to (i) three percent (3%) of such Holder's
Purchase Price for Preferred Stock purchased and then outstanding pursuant to the Purchase Agreement and (ii) one and one-half percent (1.5%) of such Holder's Purchase Price for
Preferred Stock purchased and then outstanding pursuant to the Purchase Agreement for each subsequent thirty (30) day period (which shall be pro rated for such periods less than thirty
(30) days) until the Registration Statement is declared effective. Payments to be made pursuant to this Section 8(f) shall be due and payable immediately upon demand in immediately
available cash funds. The parties agree that 

12

 

the
amounts set forth in this Section 8(f) represent a reasonable estimate on the part of the parties, as of the date of this Agreement, of the amount of damages that will be incurred by the
Holders if the Registration Statement is not declared effective on or prior to the ninetieth (90th) day following the Closing Date. Notwithstanding the foregoing, the Company shall remain obligated to
cause the Registration Statement to become effective, and the Holder shall have the right to take any action necessary or desirable to enforce such obligation. 

        (g)   Specific Enforcement, Consent to Jurisdiction. 

          (i)  The
Company and the Holders acknowledge and agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed in
accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties shall be entitled to an injunction or injunctions to prevent or cure breaches of the
provisions of this Agreement and to enforce specifically the terms and provisions hereof, this being in addition to any other remedy to which any of them may be entitled by law or equity. 

         (ii)  Each
of the Company and the Holders (i) hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts located in New York City, New
York for the purposes of any suit, action or proceeding arising out of or relating to this Agreement and (ii) hereby waives, and agrees not to assert in any such suit, action or proceeding, any
claim that it is not personally subject to the jurisdiction of such court, that the suit, action or proceeding is brought in an inconvenient forum or that the venue of the suit, action or proceeding
is improper. Each of the Company and the Holders consents to process being served in any such suit, action or proceeding by mailing a copy thereof to such party at the address in effect for notices to
it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing in this Section 8(g) shall affect or limit any right to
serve process in any other manner permitted by law. 

        (h)   Amendments and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended,
modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given, unless the same shall be in writing and signed by the Company and the Holders of at least a
majority of the Registrable Securities. Notwithstanding the foregoing, a waiver or consent to depart from the provisions hereof with respect to a matter that relates exclusively to the rights of
Holders and that does not directly or indirectly affect the rights of other Holders may be given by Holders of the Registrable Securities to which such waiver or consent relates; provided, however,
that the provisions of this sentence may not be amended, modified, or supplemented except in accordance with the provisions of the immediately preceding sentence. 

        (i)    Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall
be in writing and shall be deemed given and effective on the earlier of (i) the date of transmission, if such notice or communication is delivered via facsimile at the facsimile telephone
number specified for notice prior to 5:00 p.m., New York City time, on a Business Day, (ii) the next Business Day after the date of transmission, if such notice or communication is
delivered via facsimile at the facsimile number specified in this Section on a day that is not a Business Day or later than 5:00 p.m., New York City time, on any date and earlier than
11:59 p.m., New York City time, on such date, (iii) the Business Day following the date of mailing, if sent by nationally recognized overnight courier service such as Federal Express or
(iv) actual receipt by the party to whom such notice is required to be given. The addresses for such communications shall be with respect to each Holder at its address set forth under its name
on Schedule 1 attached hereto, or with respect to the Company, addressed to: 

Transmeridian
Exploration, Inc.

397 N. Sam Houston Pkwy E, Suite 300

Houston, Texas 77060

Attention: Chief Financial Officer

Facsimile No.: 281-999-9094 

13

 

or
to such other address or addresses or facsimile number or numbers as any such party may most recently have designated in writing to the other parties hereto by such notice. Copies of notices to the
Company shall be sent to Weycer, Kaplan, Pulaski & Zuber, P.C., 1400 Summit Tower, Eleven Greenway Plaza, Houston, Texas 77046, Attention: Robert Beasley, Esq, Facsimile:
713-961-5341. Copies of notices to any Holder shall be sent to the addresses, if any, listed on Schedule 1 attached
hereto. 

        (j)    Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors
and permitted assigns and shall inure to the benefit of each Holder and its successors and assigns; provided, that the Company may not assign this Agreement or any of its rights or obligations
hereunder without the prior written consent of Holders holding a majority of the Registrable Securities; and provided, further, that each Holder may assign its rights hereunder in the manner and to
the Persons as permitted under the Purchase Agreement. 

        (k)   Assignment of Registration Rights. The rights of each Holder hereunder, including the right to have the Company register
for resale Registrable Securities in accordance with the terms of this Agreement, shall be automatically assignable by each Holder to any transferee of such Holder of all or a portion of the Preferred
Stock, the Warrants or the Registrable Securities if: (i) the Holder agrees in writing with the transferee or assignee to assign such rights, and a copy of such agreement is furnished to the
Company within a reasonable time after such assignment, (ii) the Company is, within a reasonable time after such transfer or assignment, furnished with written notice of (a) the name and
address of such transferee or assignee, and (b) the securities with respect to which such registration rights are being transferred or assigned, (iii) following such transfer or
assignment the further disposition of such securities by the transferee or assignees is restricted under the Securities Act and applicable state securities laws, (iv) at or before the time the
Company receives the written notice contemplated by clause (ii) of this Section 8(k), the transferee or assignee agrees in writing with the Company to be bound by all of the provisions
of this Agreement, and (v) such transfer shall have been made in accordance with the applicable requirements of the Purchase Agreement and applicable securities legislation. The rights to
assignment shall apply to the Holders (and to subsequent) successors and assigns. 

        The
Company may require, as a condition of allowing such assignment in connection with a transfer of Preferred Stock, Warrants or Registrable Securities (i) that the Holder or
transferee of all or a portion of the Preferred Stock, the Warrants or the Registrable Securities as the case may be, furnish to the Company a written opinion of counsel that is reasonably acceptable
to the Company to the effect that such transfer may be made without registration under the Securities Act, (ii) that the Holder or transferee execute and deliver to the Company an investment
letter in form and substance acceptable to the Company and (iii) that the transferee be an "accredited investor" as defined in Rule 501(a) promulgated under the Securities Act. 

        (l)    Counterparts; Facsimile. This Agreement may be executed in any number of counterparts, each of which when so executed
shall be deemed to be an original and, all of which taken together shall constitute one and the same Agreement. In the event that any signature is delivered by facsimile transmission, such signature
shall create a valid binding obligation of the party executing (or on whose behalf such signature is executed) the same with the same force and effect as if such facsimile signature were the original
thereof. 

        (m)  Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York,
without regard to principles of conflicts of law thereof. 

        (n)   Cumulative Remedies. The remedies provided herein are cumulative and not exclusive of any remedies provided by law. 

14

 

        (o)   Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent
jurisdiction to be invalid, illegal, void or unenforceable in any respect, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and
shall in no way be affected, impaired or invalidated, and the parties hereto shall use their reasonable efforts to find and employ an alternative means to achieve the same or substantially the same
result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining terms,
provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable. 

        (p)   Headings; Interpretation. The headings herein are for convenience only, do not constitute a part of this Agreement and
shall not be deemed to limit or affect any of the provisions hereof. Any form of the word "include" as used in this Agreement shall be deemed to be followed by the phrase "without limitation". 

        (q)   Registrable Securities Held by the Company and its Affiliates. Whenever the consent or approval of Holders of a specified
percentage of Registrable Securities is required hereunder, Registrable Securities held by the Company or its Affiliates (other than any Holder or transferees or successors or assigns thereof if such
Holder is deemed to be an Affiliate solely by reason of its holdings of such Registrable Securities) shall not be counted in determining whether such consent or approval was given by the Holders of
such required percentage. 

        (r)   Obligations of Purchasers. The Company acknowledges that the obligations of each Purchaser under this Agreement, are
several and not joint with the obligations of any other Purchaser, and no Purchaser shall be responsible in any way for the performance of the obligations of any other Purchaser under this Agreement.
The decision of each Purchaser to enter into to this Agreement has been made by such Purchaser independently of any other Purchaser. The Company further acknowledges that nothing contained in this
Agreement, and no action taken by any Purchaser pursuant hereto, shall be deemed to constitute the Purchasers as a partnership, an association, a joint venture or any other kind of entity, or create a
presumption that the Purchasers are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated hereby. Each Purchaser shall be entitled to
independently protect and enforce its rights, including without limitation, the rights arising out of this Agreement, and it shall not be necessary for any other Purchaser to be joined as an
additional party in any proceeding for such purpose. 

        Each
Purchaser has been represented by its own separate legal counsel in their review and negotiation of this Agreement and with respect to the transactions contemplated hereby. For
reasons of administrative convenience only, this Agreement has been prepared by Special Counsel (counsel for North Sound Capital, LLC) and the Special Counsel will perform certain duties under this
Agreement. Such counsel does not represent all of the Purchasers but only North Sound Capital, LLC. The Company has elected to provide all Purchasers with the same terms and Agreement for the
convenience of the Company and not because it was required or requested to do so by the Purchasers. The Company acknowledges that such procedure with respect to this Agreement in no way creates a
presumption that the Purchasers are in any way acting in concert or as a group with respect to this Agreement or the transactions contemplated hereby or thereby. 

[signature
page follows] 

15

 

        IN
WITNESS WHEREOF, the parties hereto have caused this Investor Rights Agreement to be duly executed by their respective authorized persons as of the date first indicated above. 

COMPANY:

TRANSMERIDIAN EXPLORATION, INC.

By:
/s/ EARL W. MCNIEL

Name: Earl W. McNiel

Title: Vice President, Chief Financial Officer 

16

 

PURCHASERS:

CONCENTRATED ALPHA PARTNERS, L.P.

By: /s/ WILLIAM O. REIMANN

Name: William O. Reimann

Title: Vice President 

BBT FUND, L.P.

By: /s/ WILLIAM O. REIMANN

Name: William O. Reimann

Title: Vice President 

M AND M CAPITAL, LLC

By: /s/ JOHN D. CRANMER

Name: John D. Cranmer

Title: Manager 

NORTH SOUND LEGACY FUND LLC

By: /s/ THOMAS MCAULEY

Name: Thomas McAuley

Title: Manager 

NORTH SOUND LEGACY INSTITUTIONAL FUND LLC

By: /s/ THOMAS MCAULEY

Name: Thomas McAuley

Title: Manager 

NORTH SOUND LEGACY INTERNATIONAL LTD

By: /s/ THOMAS MCAULEY

Name: Thomas McAuley

Title: Manager 

RIDGEWOOD LIMITED

By: /s/ NEAL J. FIORE

Name: Neal J. Fiore

Title: General Partner 

SDS CAPITAL GROUP SPC, LTD

By: /s/ KEVIN JOHNSON

Name: Kevin Johnson

Title: Trading Director 

WILLEMSTAD MANAGEMENT & CONSULTING CORP

By: /s/ MICHAEL KRALAND

Name: Michael Kraland

Title: Investment Advisor 

[Omnibus
Transmeridian Investor Rights Agreement Signature Page] 

17

 
SCHEDULE
1

  

PURCHASERS 

	Name, Address and Fax Number of Purchaser and Registration Instructions
	 	Copies of Notices to

	Concentrated Alpha Partners, L.P.

c/o CAP Genpar, L.P.

201 Main Street, Suite 3200

Fort Worth, TX 76102

Attn: Brad Donley	 	 
	
BBT Fund, L.P.

c/o BBT Genpar, L.P.

201 Main Street, Suite 3200

Fort Worth, TX 76102

Attn: Brad Donley	
 	

 
	
M and M Capital, LLC

c/o John D. Cranmer, Manager

P.O. Box 562

Moorestown, NJ 08057	
 	

 
	
North Sound Legacy Fund LLC

c/o North Sound Capital LLC

53 Forest Avenue, Suite 202

Old Greenwich, CT 06870

Attn: Andrew David	
 	

 
	
North Sound Legacy Institutional Fund LLC

c/o North Sound Capital LLC

53 Forest Avenue, Suite 202

Old Greenwich, CT 06870

Attn: Andrew David	
 	

Wiggin and Dana LLP

400 Atlantic Street

Stamford, CT 06901

Attn: Michael Grundei
	
North Sound Legacy International, Ltd.

c/o North Sound Capital LLC

53 Forest Avenue, Suite 202

Old Greenwich, CT 06870

Attn: Andrew David	
 	

Wiggin and Dana LLP

400 Atlantic Street

Stamford, CT 06901

Attn: Michael Grundei
	
Ridgewood Limited

c/o Neil Fiore, General Partner

763 Upper Boulevard

Ridgewood, NJ 07450	
 	

Wiggin and Dana LLP

400 Atlantic Street

Stamford, CT 06901

Attn: Michael Grundei
	
SDS Capital Group SPC, Ltd.

SDS Capital Group SPC, Ltd.

c/o SDS Management, LLC

53 Forest Avenue, 2nd Floor

Old Greenwich, CT 06870	
 	

 
	
Willemstad Management & Consulting Corp.

c/o Michael Kraland, Investment Advisor

POB 837, Willemstad

Curaçao, Netherlands Antilles	
 	

 

18

 
EXHIBIT
A

   

PLAN OF DISTRIBUTION 

        We
are registering the shares of common stock on behalf of the selling security holders. Sales of shares may be made by selling security holders, including their respective donees,
transferees, pledgees or other successors-in-interest directly to purchasers or to or through underwriters, broker-dealers or through agents. Sales may be made from time to
time on the OTC Bulletin Board or any exchange upon which our shares may trade in the future, in the over-the-counter market or otherwise, at market prices prevailing at the
time of sale, at prices related to market prices, or at negotiated or fixed prices. The shares may be sold by one or more of, or a combination of, the following: 

	—
	a
block trade in which the broker-dealer so engaged will attempt to sell the shares as agent but may position and resell a portion of the block as principal to facilitate
the transaction (including crosses in which the same broker acts as agent for both sides of the transaction);

	—
	purchases
by a broker-dealer as principal and resale by such broker-dealer, including resales for its account, pursuant to this prospectus;

	—
	ordinary
brokerage transactions and transactions in which the broker solicits purchases;

	—
	through
options, swaps or derivatives;

	—
	in
privately negotiated transactions;

	—
	in
making short sales or in transactions to cover short sales; and

	—
	put
or call option transactions relating to the shares. 

        The
selling security holders may effect these transactions by selling shares directly to purchasers or to or through broker-dealers, which may act as agents or principals. These
broker-dealers may receive compensation in the form of discounts, concessions or commissions from the selling security holders and/or the purchasers of shares for whom such broker-dealers may act as
agents or to whom they sell as principals, or both (which compensation as to a particular broker-dealer might be in excess of customary commissions). The selling security holders have advised us that
they have not entered into any agreements, understandings or arrangements with any underwriters or broker-dealers regarding the sale of their securities. 

        The
selling security holders may enter into hedging transactions with broker-dealers or other financial institutions. In connection with those transactions, the broker-dealers or other
financial institutions may engage in short sales of the shares or of securities convertible into or exchangeable for the shares in the course of hedging positions they assume with the selling security
holders. The selling security holders may also enter into options or other transactions with broker-dealers or other financial institutions which require the delivery of shares offered by this
prospectus to those broker-dealers or other financial institutions. The broker-dealer or other financial institution may then resell the shares pursuant to this prospectus (as amended or supplemented,
if required by applicable law, to reflect those transactions). 

        The
selling security holders and any broker-dealers that act in connection with the sale of shares may be deemed to be "underwriters" within the meaning of Section 2(11) of the
Securities Act of 1933, and any commissions received by broker-dealers or any profit on the resale of the shares sold by them while acting as principals may be deemed to be underwriting discounts or
commissions under the Securities Act. The selling security holders may agree to indemnify any agent, dealer or broker-dealer that participates in transactions involving sales of the shares against
liabilities, including liabilities arising under the Securities Act. We have agreed to indemnify each of the selling security holders and 

19

 

each
selling security holder has agreed, severally and not jointly, to indemnify us against some liabilities in connection with the offering of the shares, including liabilities arising under the
Securities Act. 

        The
selling security holders will be subject to the prospectus delivery requirements of the Securities Act. We have informed the selling security holders that the
anti-manipulative provisions of Regulation M promulgated under the Securities Exchange Act of 1934 may apply to their sales in the market. 

        Selling
security holders also may resell all or a portion of the shares in open market transactions in reliance upon Rule 144 under the Securities Act, provided they meet the
criteria and conform to the requirements of Rule 144. 

        Upon
being notified by a selling security holder that a material arrangement has been entered into with a broker-dealer for the sale of shares through a block trade, special offering,
exchange distribution or secondary distribution or a purchase by a broker or dealer, we will file a supplement to this prospectus, if required pursuant to Rule 424(b) under the
Securities Act, disclosing: 

	—
	the
name of each such selling security holder and of the participating broker-dealer(s);

	—
	the
number of shares involved;

	—
	the
initial price at which the shares were sold;

	—
	the
commissions paid or discounts or concessions allowed to the broker-dealer(s), where applicable;

	—
	that
such broker-dealer(s) did not conduct any investigation to verify the information set out or incorporated by reference in this prospectus; and

	—
	other
facts material to the transactions. 

        In
addition, if required under applicable law or the rules or regulations of the Commission, we will file a supplement to this prospectus when a selling security holder notifies
us that a donee or pledgee intends to sell more than 500 shares of common stock. 

        We
are paying all expenses and fees in connection with the registration of the shares. The selling security holders will bear all brokerage or underwriting discounts or commissions paid
to broker-dealers in connection with the sale of the shares. 

20

 
EXHIBIT
B

   

FORM OF NOTICE OF EFFECTIVENESS OF REGISTRATION STATEMENT 

[Name
and Address of Transfer Agent] 

Re:
Transmeridian Exploration, Inc. 

Dear
[            ]: 

        We
are counsel to Transmeridian Exploration, Inc., a Delaware corporation (the "Company"), and have represented the Company in connection with that certain Preferred Stock and
Warrant Purchase Agreement (the "Purchase Agreement") dated as of                        , 2004 by and among the Company and the
buyers named therein (collectively, the "Holders") pursuant to which the
Company issued to the Holders its Series A Cumulative Convertible Preferred Stock, par value $0.0006 per share (the "Preferred Stock") convertible into shares of the Company's common stock, par
value $0.0006 per share (the "Common Stock"), and warrants to purchase shares of the Common Stock (the "Warrants"). Pursuant to the Purchase Agreement, the Company has also entered into an Investor
Rights Agreement with the Holders (the "Investor Rights Agreement") pursuant to which the Company agreed, among other things, to register the shares of Common Stock issuable upon conversion of the
Preferred Stock and exercise of the Warrants, under the Securities Act of 1933, as amended (the "1933 Act"). In connection with the Company's obligations under the Investor Rights Agreement, on
                            , 2004, the Company filed a Registration Statement on
Form S-    (File No. 333-                        ) (the "Registration
Statement") with the Securities and Exchange Commission (the "SEC") relating to the Registrable Securities which names each of the Holders as a selling securityholder thereunder. 

        In
connection with the foregoing, we advise you that a member of the SEC's staff has advised us by telephone that the SEC has entered an order declaring the Registration Statement
effective under the 1933 Act at [ENTER TIME OF EFFECTIVENESS] on [ENTER DATE OF EFFECTIVENESS] and we have no knowledge, after telephonic inquiry of a
member of the SEC's staff, that any stop order suspending its effectiveness
has been issued or that any proceedings for that purpose are pending before, or threatened by, the SEC and the Registrable Securities are available for resale under the 1933 Act pursuant to the
Registration Statement. 

Very
truly yours, 

By:
                                        

cc: [LIST NAMES OF HOLDERS] 

21

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EXHIBIT 10.2QuickLinks
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Exhibit 10.1    
    

 
 

AGREEMENT OF PURCHASE AND SALE    
    

        This
Agreement, dated as of the "Effective Date" (being defined as the date that the last party signed this Agreement as shown by the date
set forth next to said party's signature below), is between CABOT INDUSTRIAL VENTURE A, LLC, a Delaware limited liability company, CABOT INDUSTRIAL VENTURE B, LLC, a Delaware limited
liability company, CW INDUSTRIAL VENTURE B, LLC, a Delaware limited liability company, CW INDUSTRIAL VENTURE A TEXAS, L.P., a Delaware limited partnership and CW INDUSTRIAL
VENTURE B TEXAS, L.P., a Delaware limited partnership (each a "Selling Entity" and collectively,
"Seller"), and DIVIDEND CAPITAL OPERATING PARTNERSHIP LP, a Delaware limited partnership ("Buyer"). 

 
 

ARTICLE I
  
    PURCHASE AND SALE OF PROPERTY    
    

 Section 1.1    Sale.  

        Seller agrees to sell to Buyer, and Buyer agrees to purchase from Seller, subject to the terms, covenants and conditions set forth herein, all of Seller's right,
title and interest in and to the following property (collectively, the "Property"): 

        (a)   Real Property. That certain real property generally described on  Exhibit A-1 attached hereto and made a part hereof,
 as more particularly described in  Exhibit A attached hereto and made a part hereof (the "Land"), together with (1) all
improvements located thereon (the "Improvements"), (2) all rights, benefits, privileges, easements, tenements, hereditaments,
rights-of-way and other appurtenances thereon or in any way appertaining thereto, including all mineral rights, development rights, air and water rights, and (3) all
strips and gores and any land lying in the bed of any street, road or alley, open or proposed, adjoining such Land (collectively, the "Real Property"); 

        (b)   Leases. All of the landlord's interest in and to all of the Leases (as defined in
Section 2.1(b) below) of the Real Property, including Leases entered into after the date of this Agreement as permitted by this Agreement; 

        (c)   Tangible Personal Property. All of the equipment, machinery, furniture, furnishings, supplies and
other tangible personal property, if any, owned by Seller and now or hereafter located on and used exclusively in the operation, ownership or maintenance of the Real Property (collectively, the
"Tangible Personal Property"), but specifically excluding from the Tangible Personal Property (1) any items of personal property owned by tenants
of the Property, (2) any items of personal property in Seller's property management office, if any, located on the Real Property, (3) any items of personal property owned by third
parties and leased to Seller, and (4) proprietary computer software, systems and equipment and related licenses used in connection with the operation or management of the Property. Seller will
provide to Buyer any list which is in Seller's possession of such Tangible Personal Property within the Delivery Period as defined in Section 2.1 below; and 

        (d)   Intangible Personal Property. To the extent assignable at no cost to Seller, all intangible
personal property, if any, owned by Seller and related to the Real Property and the Improvements, including, without limitation: any trade names and trademarks associated with the Real Property and
the Improvements (but specifically excluding the name "RREEF" and any derivatives thereof); any plans and specifications and other architectural and engineering drawings for the Improvements; any
warranties; any Service Contracts (as defined in Section 2.1(b) below) and other contract rights related to the Property (but only to the extent Seller's obligations thereunder are expressly
assumed by Buyer pursuant to the Assignment of Leases as defined in 

 

Section 8.3(a)(3)
below); and any governmental permits, approvals and licenses (including any pending applications) (collectively, the "Intangible Personal
Property"). 

        (e)   Ground Lease Interest. The lessee's interest of Selling Entity, Cabot Industrial Venture B, LLC,
in that certain Ground Lease dated May     , 2001 between Cabot Industrial Properties, L.P. ("Ground Lessor") and Meadows Business
Center, LLC (predecessor in interest to Cabot Industrial Venture B, LLC), as assigned by Meadows Business Center, LLC to Cabot Industrial Venture B, LLC ("Ground
Lessee"), as evidenced by Memorandum of Ground Lease and of Assignment between Ground Lessor and Ground Lessee undated, filed for record July 8, 2003 recorded in Deed
Book 2875, page 352, Forsyth County, Georgia records, as subordinated by that certain Subordination of Ground Lease form Ground Lessee, Ground Lessor and Archon Financial, L.P. dated as of
June 25, 2003, recorded July 8, 2003 in Deed Book 2875, page 476 aforesaid records (the "Ground Lease"). The Ground Lease was entered into
in order to satisfy certain parking obligations of Ground Lessee in its Lease of 5925 Cabot Parkway, Alpharetta, Georgia 30005 to Ciena Corporation. Seller shall use its good faith efforts to obtain
the consent of Ground Lessor to the assignment of the Ground Lease to Buyer. It shall be a condition of Closing that Seller obtain Ground Lessor's consent to said assignment. 

        For
purposes of this Agreement: (i) the term "Parcel" means each separate parcel of land identified on Exhibit A attached
hereto, (ii) the term "Building" means, collectively, a Parcel, the Improvements located on such
Parcel and the Personal Property and Intangible Property associated with such Parcel and Improvements. 

        Notwithstanding
any other provision of this Agreement to the contrary, Buyer acknowledges and agrees that each Selling Entity comprising Seller is only the owner of those Buildings
identified on Exhibit A-1 as being owned by such Selling Entity, and that such Selling Entities do not have any ownership interest in
any of the other Buildings. Wherever in this Agreement the obligations of Seller are set forth or Seller shall make a representation, warranty or certification, such obligations, warranties,
representations and certifications of Seller shall be made by and binding upon each Selling Entity only as to that portion of the Property that it owns. Buyer and each Selling Entity acknowledge that
this Agreement has been entered into as a single agreement rather than multiple agreements between Buyer and each Selling Entity as a matter of convenience and simplicity, and the liabilities and
duties of each Selling Entity hereunder shall be independent and several, and not joint, in the same manner as if each Selling Entity had entered into a separate agreement with Buyer for the Real
Property owned by each Selling Entity; provided, however, that the purchase and sale of the Property must occur simultaneously as part of a single transaction in accordance with the terms of this
Agreement (except as may be expressly provided to the contrary contained herein). 

 Section 1.2    Purchase Price.  

        (a)   The purchase price of the Property is TWO HUNDRED SIXTY SIX MILLION FIVE HUNDRED THOUSAND and xx/100 DOLLARS
($266,500,000.00) (the "Purchase Price"). Buyer shall allocate the Purchase Price to each Building is set forth on  Exhibit A-1 at or prior to Closing.

        (b)   The Purchase Price shall be paid as follows: 

        (1)   Within two (2) business days after the Effective Date, Buyer shall deposit in escrow with Chicago Title Insurance
Company (the "Escrow Agent") cash or other immediately available funds in the amount of TWO MILLION and xx/100 DOLLARS ($2,000,000.00) (the
"Initial Deposit"). If Buyer delivers a waiver notice under Section 2.2 to Seller prior to the expiration of the Contingency Period, Buyer shall
deposit in escrow with the Escrow Agent an additional amount of EIGHT MILLION and xx/100 DOLLARS ($8,000,000.00) (the "Additional Deposit") in cash or
other immediately available funds within one (1) business day after the expiration of the Contingency Period. The Initial Deposit and the Additional 

2

 

Deposit
(if and when the Additional Deposit is deposited by Buyer with the Escrow Agent as provided hereunder) are collectively referred to herein as the
"Deposit". 

        The
Deposit shall be held in an interest bearing account and all interest thereon, less investment fees, if any, shall be deemed a part of the Deposit. If the sale of the Property as
contemplated hereunder is consummated, then the Deposit shall be paid to Seller at the Closing (as defined below) and credited against the Purchase Price. IF THE SALE OF THE
PROPERTY IS NOT CONSUMMATED DUE TO SELLER'S DEFAULT HEREUNDER, THEN BUYER MAY ELECT, AS BUYER'S SOLE AND EXCLUSIVE REMEDY, EITHER TO: (1) TERMINATE THIS AGREEMENT AND RECEIVE A REFUND OF THE
DEPOSIT, IN WHICH EVENT NEITHER PARTY SHALL HAVE ANY FURTHER RIGHTS OR OBLIGATIONS HEREUNDER EXCEPT AS PROVIDED IN SECTIONS 6.1, 9.3 AND 9.9 BELOW, OR (2) ENFORCE SPECIFIC PERFORMANCE OF
THIS AGREEMENT. BUYER SHALL NOT HAVE ANY OTHER RIGHTS OR REMEDIES HEREUNDER AS A RESULT OF ANY DEFAULT BY SELLER PRIOR TO CLOSING, AND BUYER HEREBY WAIVES ANY OTHER SUCH REMEDY AS A RESULT OF A
DEFAULT HEREUNDER BY SELLER. IF THE SALE IS NOT CONSUMMATED DUE TO ANY DEFAULT BY BUYER HEREUNDER, THEN SELLER SHALL RETAIN THE DEPOSIT AS LIQUIDATED DAMAGES. THE PARTIES HAVE AGREED THAT SELLER'S
ACTUAL DAMAGES, IN THE EVENT OF A FAILURE TO CONSUMMATE THIS SALE DUE TO BUYER'S DEFAULT PRIOR TO CLOSING, WOULD BE EXTREMELY DIFFICULT OR IMPRACTICABLE TO DETERMINE. AFTER NEGOTIATION, THE PARTIES
HAVE AGREED THAT, CONSIDERING ALL THE CIRCUMSTANCES EXISTING ON THE DATE OF THIS AGREEMENT, THE AMOUNT OF THE DEPOSIT IS A REASONABLE ESTIMATE OF THE DAMAGES THAT SELLER WOULD INCUR IN SUCH EVENT. BY
PLACING THEIR INITIALS BELOW, EACH PARTY SPECIFICALLY CONFIRMS THE ACCURACY OF THE STATEMENTS MADE ABOVE AND THE FACT THAT EACH PARTY WAS REPRESENTED BY COUNSEL WHO EXPLAINED, AT THE TIME THIS
AGREEMENT WAS MADE, THE CONSEQUENCES OF THIS LIQUIDATED DAMAGES PROVISION. THE FOREGOING IS NOT INTENDED TO LIMIT BUYER'S OBLIGATIONS UNDER SECTIONS 6.1, 9.3 AND 9.9.

	INITIALS:	 	SELLER         	 	BUYER         

        (2)   The balance of the Purchase Price (plus or minus the prorations pursuant to Section 8.5 hereof) shall be paid to
Seller in cash or by wire transfer of other immediately available funds at the consummation of the purchase and sale contemplated hereunder (the
"Closing"). 

 
 

ARTICLE II
  
    CONDITIONS    
    

 Section 2.1    Buyer's Conditions Precedent.  

        Subject to the provisions of Section 9.3 hereof, Seller has provided and/or shall provide Buyer and its consultants and other agents and representatives
with access to the Property to perform Buyer's inspections and review and determine the present condition of the Property. Seller has delivered or made available to Buyer at Seller's offices or at the
Real Property, or shall within the Delivery Period (as defined below) deliver or make available to Buyer at Seller's offices or at the Real Property, copies of all Due Diligence Materials (as defined
in Section 2.2 below) in Seller's possession, except as otherwise specifically provided herein. Notwithstanding anything to the contrary contained herein, the Due Diligence Materials shall
expressly exclude (i) those portions of the Due Diligence Materials that would disclose Seller's cost of acquisition of the Real Property, or cost of construction of the Improvements and
related soft costs, or any estimates of costs to repair, replace, remediate or maintain the Real Property, (ii) any reports, presentations, summaries and the like prepared for any of Seller's 

3

 

boards,
committees, partners or investors in connection with its consideration of the acquisition of the Real Property, construction of the Improvements or sale of the Property, (iii) any
proposals, letters of intent, draft contracts or the like prepared by or for other prospective purchasers of the Property or any part thereof, (iv) Seller's internal memoranda, attorney-client
privileged materials, internal appraisals, structural or physical inspection reports, and (v) any information which is the subject of a confidentiality agreement between Seller and a third
party (the items described in clauses (i), (ii) (iii), (iv) and (v) being collectively referred to as the "Confidential
Information"). The "Delivery Period" shall mean the period which ends five (5) days after the Effective Date. Buyer's
obligation to purchase the Property is conditioned upon Buyer's review and approval of the following, within the applicable time periods described in Sections 2.2 and 4.1 hereof: 

        (a)   Title to the Property and survey matters in accordance with Article IV below. 

        (b)   The Due Diligence Materials, including, but not limited to, tenant leases, any guaranties thereof and any other occupancy
agreements, and all amendments and modifications thereof (collectively, the "Leases") affecting the Property, and of all contracts pertaining to the
operation of the Property, including all management, leasing, service and maintenance agreements, and equipment leases (collectively, the "Service
Contracts") and the Ground Lease. 

        (c)   The physical condition of the Property. 

        (d)   The zoning, land use, building, environmental and other statutes, rules, or regulations applicable to the Property. 

        (e)   The tenant correspondence files, operating statements and books and records pertaining to the operation of the Property
in each case for each of the three (3) most recent years during which the Property has been owned by Seller and for the current year (to the extent available), current real estate tax bills,
any warranties, licenses, permits, certificates of occupancy, plans and specifications, and any current rent roll, current accounts receivable schedule and list of Tangible Personal Property in such
form as Seller shall have in its possession for the Property, current tenant financial information and other agreements or documents pertaining to the Property which will be binding on Buyer after
Closing. 

        (f)    Any other matters Buyer deems relevant to the Property. 

 Section 2.2    Contingency Period.  

        Buyer shall have from the Effective Date until August 16, 2004 (such period being referred to herein as the "Contingency
Period") to review and approve the matters described in Sections 2.1(b)-(f) above in Buyer's sole discretion (title and survey review and approval shall be governed by
the provisions of Section 4.1 below). If Buyer determines to proceed with the purchase of the Property, then Buyer shall, before the end of the Contingency Period, so notify Seller in writing,
in which case Buyer shall be deemed to have approved all of the matters described in Sections 2.1(a)-(f) above (subject to the provisions of Section 4.1 below as to title and survey
matters), including, without limitation, all documents, Service Contracts and other contracts, agreements, Leases, reports and other items and materials related to the Property prepared by or on
behalf of Seller (collectively, the "Due Diligence Materials"), and the Deposit shall become nonrefundable except as expressly provided herein. If
before the end of the Contingency Period Buyer fails to give Seller such written notice, then Buyer shall be deemed to have elected to terminate this Agreement, the Deposit shall be returned to Buyer,
and neither party shall have any further rights or obligations hereunder except as provided in Sections 6.1, 9.3 and 9.9 below. 

4

 
 
 

ARTICLE III
  
    BUYER'S EXAMINATION    
    

 Section 3.1    Representations and Warranties of Seller.  

        Subject to the disclosures contained in Schedule 1 attached hereto and made a part hereof (the
"Disclosure Items"), matters contained in the Due Diligence Materials, and any matters of public record where the Property is located, Seller hereby
makes the following representations and warranties with respect to the Property. Notwithstanding anything to the contrary contained herein or in any document delivered in connection herewith, Seller
shall have no liability with respect to the Disclosure Items. 

        (a)   Seller has not (i) made a general assignment for the benefit of creditors, (ii) filed any voluntary
petition in bankruptcy or suffered the filing of any involuntary petition by Seller's creditors, (iii) suffered the appointment of a receiver to take possession of all, or substantially all, of
Seller's assets, (iv) suffered the attachment or other judicial seizure of all, or substantially all, of Seller's assets, (v) admitted in writing its inability to pay its debts as they
come due, or (vi) made an offer of settlement, extension or composition to its creditors generally. 

        (b)   Seller is not a "foreign person" as defined in Section 1445 of the Internal Revenue Code of 1986, as amended (the
"Code") and any related regulations. 

        (c)   Subject to the provisions of Section 9.18 below, (i) this Agreement has been, and all documents executed by
Seller which are to be delivered to Buyer at Closing will be, duly authorized, executed and delivered by Seller, and (ii) this Agreement does not and such other documents will not violate any
provision of any agreement or judicial order to which Seller is a party or to which Seller or, to the best of Seller's knowledge, the Property is subject. 

        (d)         (i)     The only Leases in force for the Property are set forth in a tenant list attached
hereto as Exhibit B and made a part hereof (or, if not attached, which Seller shall deliver to Buyer within the Delivery Period and which at that
time will be attached hereto as Exhibit B and made a part hereof), and to the best of Seller's knowledge, Seller has received no written notice
of any default by Seller with respect to such Leases which has not been cured. The copies of the Leases provided to Buyer pursuant to Section 2.1 constitute true and complete copies of such
Leases. 

        (ii)   Seller
shall deliver the Ground Lease to Buyer within the Delivery Period, and to the best of Seller's knowledge, Seller has received no written notice of any default
by Seller with respect to the Ground Lease which has not been cured. The copy of the Ground Lease provided to Buyer pursuant to Section 2.1 constitutes a true and complete copy of the Ground
Lease. 

        (e)   To the best of Seller's knowledge, the only Service Contracts in effect for the Property are set forth in a list of
Service Contracts attached hereto as Exhibit G and made a part hereof (or, if not attached, which Seller shall deliver to Buyer within the
Delivery Period and which at that time will be attached hereto as Exhibit G and made a part hereof). 

        (f)    To the best of Seller's knowledge, there is no litigation or governmental proceeding (including, but not limited to any
condemnation proceeding) pending or threatened with respect to the Property, or with respect to Seller which impairs Seller's ability to perform its obligations under this Agreement, except for any
personal injury or property damage action for which there is adequate insurance coverage. 

        (g)   To the best of Seller's knowledge, Seller has received no written notice from any governmental authority of any violation
of any law applicable to the Property (including, without 

5

 

limitation,
any Environmental Law as defined in Section 3.6(a)(2) below) that has not been corrected. 

        (h)   To the best of Seller's knowledge, all of the Due Diligence Materials delivered or made available by Seller to Buyer in
connection with the Property are complete copies of such items in Seller's possession which are used by Seller in the operation of the Property. 

        (i)    Seller has been duly organized, is validly existing, and is in good standing in the state in which it was formed, and, if
so required to, is qualified to do business in the state in which the Real Property is located. 

        (j)    Seller is not an "employee benefit plan" within the meaning of Section 3(3) of the Employee Retirement Income
Security Act of 1974, as amended, a "plan" within the meaning of Section 4975 of the Internal Revenue Code of 1986, as amended, or an entity deemed to hold "plan assets" within the meaning of
29 C.F.R. § 2510.3-101 of any such employee benefit plan or plans. 

        Each
of the representations and warranties of Seller contained in this Section 3.1: (1) shall be deemed remade, and shall be true in all material respects as of the date of
Closing, subject in each case to (A) any Exception Matters (as defined below), (B) the Disclosure Items, and (C) other matters expressly permitted in this Agreement or otherwise
specifically approved in writing; and (2) shall survive the Closing as provided in Section 3.3 below. 

 Section 3.2    No Liability for Exception Matters.  

        As used herein, the term "Exception Matter" shall refer to a matter which would make a representation or warranty
of Seller contained in this Agreement untrue or incorrect and which is disclosed to Buyer in the Due Diligence Materials, the Disclosure Items, or otherwise, or is a matter of public record, or is
otherwise discovered by Buyer before the Closing, including, without limitation, matters disclosed in any tenant estoppel certificate or from interviews with tenants, property managers or any other
person. If Buyer first obtains knowledge of any material Exception Matter after the close of the Contingency Period and prior to Closing and such Exception Matter was not contained in the Due
Diligence Materials, the Disclosure Items or is not a matter of public record, Buyer's sole remedy shall be to terminate this Agreement on the basis thereof, upon written notice to Seller within the
earlier of (a) five (5) days following Buyer's discovery of such Exception Matter or (b) the Closing, which ever occurs first, in which event the Deposit shall be returned to
Buyer, unless within five (5) days after receipt of such notice or by the Closing, as the case may be, Seller notifies Buyer in writing that it elects to attempt to cure or remedy such
Exception Matter (unless such Exception Matter relates to a recognized environmental condition or a suspected recognized environmental condition, in which case Buyer does not have the obligation to
accept Seller's cure), in which event there shall be no return of the Deposit unless and until Seller is unable to so cure or remedy within the time period set forth below. Seller shall be entitled to
extend the Closing Date (as defined in Section 8.2 below) for up to fifteen (15) business days in order to attempt to cure or remedy any Exception Matter. Buyer's failure to give notice
within five (5) days after it has obtained knowledge of a material Exception Matter shall be deemed a waiver by Buyer of such Exception Matter. Seller shall have no obligation to cure or remedy
any Exception Matter, even if Seller has notified Buyer of Seller's election to attempt to cure or remedy any Exception Matter (except as specifically provided in Section 4.1(c) hereof), and,
subject to Buyer's right to terminate this Agreement as set forth above, Seller shall have no liability whatsoever to Buyer with respect to any Exception Matters. Upon any termination of this
Agreement, neither party shall have any further rights nor obligations hereunder, except as provided in Sections 6.1, 9.3 and 9.9 below. If Buyer obtains knowledge of any Exception Matter before the
Closing, but nonetheless elects to proceed with the acquisition of the Property, Seller shall have no liability with respect to such Exception Matter, notwithstanding any contrary provision, 

6

 

covenant,
representation or warranty contained in this Agreement or in any Other Documents (as defined in Section 9.19 below). 

 Section 3.3    Survival of Seller's Representations and Warranties of Sale.  

        The representations and warranties of Seller contained herein or in any Other Documents shall survive for a period of six (6) months after the Closing. Any
claim which Buyer may have against Seller for a breach of any such representation or warranty, whether such breach is known or unknown, which is not
specifically asserted by written notice to Seller within such six (6) month period shall not be valid or effective, and Seller shall have no liability with respect thereto. 

 Section 3.4    Seller's Knowledge.  

        For purposes of this Agreement and any document delivered at Closing, whenever the phrase "to the best of Seller's
knowledge" or the "knowledge" of Seller or words of similar import are used, they shall be deemed to mean and are limited to the
current actual knowledge only of Peter F. Feinberg, at the times indicated only, and not any implied, imputed or constructive knowledge of such individual(s) or of Seller or any Seller Related Parties
(as defined in Section 3.7 below), and without any independent investigation or inquiry having been made or any implied duty to investigate, make any inquiries or review the Due Diligence
Materials other than due inquiry to the property manager of each project. Furthermore, it is understood and agreed that such individual(s) shall have no personal liability in any manner whatsoever
hereunder or otherwise related to the transactions contemplated hereby. 

 Section 3.5    Representations and Warranties of Buyer.  

        Buyer represents and warrants to Seller as follows: 

        (a)   This Agreement and all documents executed by Buyer which are to be delivered to Seller at Closing do not and at the time
of Closing will not violate any provision of any agreement or judicial order to which Buyer is a party or to which Buyer is subject. 

        (b)   Buyer has not (i) made a general assignment for the benefit of creditors, (ii) filed any voluntary petition
in bankruptcy or suffered the filing of any involuntary petition by Buyer's creditors, (iii) suffered the appointment of a receiver to take possession of all, or substantially all, of Buyer's
assets, (iv) suffered the attachment or other judicial seizure of all, or substantially all, of Buyer's assets, (v) admitted in writing its inability to pay its debts as they come due,
or (vi) made an offer of settlement, extension or composition to its creditors generally. 

        (c)   Buyer has been duly organized, is validly existing and is in good standing in the state in which it was formed, and, if
required to do so, is qualified to do business in the state in which the Real Property is located. This Agreement has been, and all documents executed by Buyer which are to be delivered to Seller at
Closing will be, duly authorized, executed and delivered by Buyer. 

        (d)   Buyer is purchasing the Property as investment rental property, and not for Buyer's own operations or use. 

        (e)   Buyer is not acquiring the Property with the assets of an employee benefit plan as defined in Section 3(3) of the
Employee Retirement Income Security Act of 1974, as amended ("ERISA"). 

        (f)    Other than Seller's Broker (as defined in Section 6.1 below), Buyer has had no contact with any broker or finder
with respect to the Property. 

        Each
of the representations and warranties of Buyer contained in this Section shall be deemed remade by Buyer as of the Closing and shall survive the Closing. 

7

 

 Section 3.6    Buyer's Independent Investigation.  

        (a)   By Buyer electing to proceed under Section 2.2, Buyer will be deemed to have acknowledged and agreed that it has
been given a full opportunity to inspect and investigate each and every aspect of the Property, either independently or through agents of Buyer's choosing, including, without limitation: 

        (1)   All matters relating to title and survey, together with all governmental and other legal requirements such as taxes,
assessments, zoning, use permit requirements and building codes. 

        (2)   The physical condition and aspects of the Property, including, without limitation, the interior, the exterior, the square
footage within the improvements on the Real Property and within each tenant space therein, the structure, seismic aspects of the Property, the foundation, roof, paving, parking facilities, utilities,
and all other physical and functional aspects of the Property. Such examination of the physical condition of the Property shall include an examination for the presence or absence of Hazardous
Materials, as defined below, which shall be performed or arranged by Buyer (subject to the provisions of Section 9.3 hereof) at Buyer's sole expense. For purposes of this Agreement,
"Hazardous Materials" shall mean inflammable explosives, radioactive materials, asbestos, asbestos-containing
materials, polychlorinated biphenyls, lead, lead-based paint, radon, under and/or above ground tanks, hazardous materials, hazardous wastes, hazardous substances, oil, or related
materials, which are listed or regulated in the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended (42 U.S.C. Sections 6901, et seq.), the Resources Conservation
and Recovery Act of 1976 (42 U.S.C. Section 6901, et seq.), the Clean Water Act (33 U.S.C. Section 1251, et seq.), the Safe Drinking Water Act (14 U.S.C. Section 1401, et seq.),
the Hazardous Materials Transportation Act (49 U.S.C. Section 1801, et seq.), and the Toxic Substance Control Act (15 U.S.C. Section 2601, et seq.), and the following for any Property
located in the State of California, the California Hazardous Waste Control Law (California Health and Safety Code Section 25100, et seq.), the Porter-Cologne Water Quality Control Act
(California Water Code Section 13000, et seq.), and the Safe Drinking Water and Toxic Enforcement Act of 1986 (California Health and Safety Code Section 25249.5, et seq.) and any other
applicable federal, state or local laws (collectively, "Environmental Laws"). 

        (3)   Any easements and/or access rights affecting the Property. 

        (4)   The Leases and all matters in connection therewith, including, without limitation, the ability of the tenants to pay the
rent and the economic viability of the tenants. 

        (5)   The Service Contracts and any other documents or agreements of significance affecting the Property. 

        (6)   All other matters of material significance affecting the Property, including, but not limited to, the Due Diligence
Materials. 

        (b)   Except as expressly stated herein, Seller makes no representation or warranty as to the truth, accuracy or completeness
of any materials, data or information delivered by Seller to Buyer in connection with the transaction contemplated hereby. Buyer acknowledges and agrees that all materials, data and information
delivered by Seller to Buyer in connection with the transaction contemplated hereby are provided to Buyer as a convenience only and that any reliance on or use of such materials, data or information
by Buyer shall be at the sole risk of Buyer, except as otherwise expressly stated herein. Without limiting the generality of the foregoing provisions, Buyer acknowledges and agrees that (a) any
environmental or other report with respect to the Property which is delivered by Seller to Buyer shall be for general informational purposes only, (b) Buyer shall not have any right to rely on
any such report delivered by Seller to Buyer (unless the 

8

 

environmental
consultant subsequently provides a reliance letter to Buyer, but in no event shall Seller have any liability to Buyer arising out of said reliance letter), but rather will rely on its
own inspections and investigations of the Property and any reports commissioned by Buyer with respect thereto, (c) neither Seller, any affiliate of Seller nor the person or entity which
prepared any such report delivered by Seller to Buyer shall have any liability to Buyer for any inaccuracy in or omission from any such report and (d) the failure to deliver any report as to
the environmental or other condition of the Property, including any proposal for work at the Property which was not performed by Seller, shall not be actionable by Buyer under this Agreement or
otherwise. 

        (c)   EXCEPT AS EXPRESSLY SET FORTH IN SECTION 3.1 ABOVE AND ELSEWHERE IN THIS AGREEMENT, BUYER SPECIFICALLY ACKNOWLEDGES AND
AGREES THAT SELLER IS SELLING AND BUYER IS PURCHASING THE PROPERTY ON AN "AS IS WITH ALL FAULTS" BASIS AND THAT BUYER IS NOT RELYING ON ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND WHATSOEVER,
EXPRESS OR IMPLIED, FROM SELLER, ANY SELLER RELATED PARTIES, OR THEIR AGENTS OR BROKERS, OR ANY OTHER PERSON ACTING OR PURPORTING TO ACT ON BEHALF OF SELLER, AS TO ANY MATTERS CONCERNING THE PROPERTY,
INCLUDING WITHOUT LIMITATION: (i) the quality, nature, adequacy and physical condition and aspects of the Property, including, but not limited to, the structural elements, seismic aspects of
the Property, foundation, roof, appurtenances, access, landscaping, parking facilities and the electrical, mechanical, HVAC, plumbing, sewage, and utility systems, facilities and appliances, the
square footage within the improvements on the Real Property and within each tenant space therein, (ii) the quality, nature, adequacy, and physical condition of soils, geology and any
groundwater, (iii) the existence, quality, nature, adequacy and physical condition of utilities serving the Property, (iv) the development potential of the Property, and the Property's
use, habitability, merchantability, or fitness, suitability, value or adequacy of the Property for any particular purpose, (v) the zoning or other legal status of the Property or any other
public or private restrictions on use of the Property, (vi) the compliance of the Property or its operation with any applicable codes, laws, regulations, statutes, ordinances, covenants,
conditions and restrictions of any governmental or quasi-governmental entity or of any other person or entity, (vii) the presence of Hazardous Materials on, under or about the Property or the
adjoining or neighboring property, (viii) the quality of any labor and materials used in any improvements on the Real Property, (ix) the condition of title to the Property,
(x) the Leases, Service Contracts, or other documents or agreements affecting the Property, or any information contained in any rent roll furnished to Buyer for the Property, (xi) the
value, economics of the operation or income potential of the Property, or (xii) any other fact or condition which may affect the Property, including without limitation, the physical condition,
value, economics of operation or income potential of the Property. 

 Section 3.7    Release.  

        (a)   Without limiting the above, and subject to the representations and warranties of Seller contained in Section 3.1
hereof, Buyer on behalf of itself and its successors and assigns waives its right to recover from, and forever releases and discharges, Seller, Seller's affiliates, Seller's investment advisor, the
partners, trustees, beneficiaries, shareholders, members, managers, directors, officers, employees and agents and representatives of each of them, and their respective heirs, successors, personal
representatives and assigns (collectively, the "Seller Related Parties"), from any and all demands, claims, legal or administrative proceedings, losses,
liabilities, damages, penalties, fines, liens, judgments, costs or expenses whatsoever (including, without limitation, court costs and attorneys' fees and disbursements), whether direct or indirect,
known or unknown, foreseen or unforeseen, that may arise on account of or in any way be connected with (i) the physical condition of the Property including, without limitation, all structural
and seismic elements, all mechanical, electrical, plumbing, sewage, heating, ventilating, air conditioning and other 

9

 

systems,
the environmental condition of the Property and the presence of Hazardous Materials on, under or about the Property, or (ii) any law or regulation applicable to the Property,
including, without limitation, any Environmental Law and any other federal, state or local law. 

        (b)   For Properties located in the State of California, in connection with Section 3.7(a) above, Buyer expressly waives
the benefits of Section 1542 of the California Civil Code, which provides as follows: "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 ACKNOWLEDGES AND AGREES THAT IT HAS BEEN REPRESENTED BY LEGAL
COUNSEL OF ITS CHOICE IN CONNECTION WITH THIS AGREEMENT, AND THAT SUCH COUNSEL HAS EXPLAINED TO BUYER THE PROVISIONS OF THIS SECTION 3.7. BY INITIALING BELOW, BUYER CONFIRMS IT HAS AGREED TO THE
PROVISIONS OF THIS SECTION 3.7. 

        BUYER'S
INITIALS:                                       
                     
 

 Section 3.8    Survival.  

        The provisions of this Article III shall survive the Closing subject to the limitations and qualifications contained in such provisions and in Sections
9.11 and 9.19 hereof. 

 
 

ARTICLE IV
  
    TITLE    
    

 Section 4.1    Conditions of Title.  

        (a)   Seller has ordered updated preliminary title reports or commitments for each Property (collectively, the
"Title Report") from Chicago Title Insurance Company (the "Title Company"), which shall be made
available to Buyer, together with copies of all underlying documents relating to title exceptions referred to therein, promptly upon Seller's receipt thereof. Buyer acknowledges that the Title Company
is posting the Title Reports and copies of title documents on its website, to which Buyer shall have access, and which access shall be deemed delivery thereof by Seller. Seller shall also furnish to
Buyer within the Delivery Period any existing surveys of the Property in Seller's possession. Buyer shall immediately order any plat or survey of the Property or any update thereto from a duly
licensed surveyor (the "Survey") if desired by Buyer or if necessary to support the issuance of the Title Policy (as defined in Section 4.2
below). Buyer shall provide to Seller a copy of the Survey, which shall be certified to the Title Company, Buyer and Seller. Buyer shall pay the entire cost of the Survey. If Closing does not occur,
Buyer shall, if Seller so requests, assign to Seller all contract rights Buyer has with the surveyor and in such event Seller shall reimburse Buyer for the cost of the Survey. 

        (b)   By August 16, 2004 (the "Title Review Date"), Buyer shall furnish
Seller with a written statement of objections, if any, to the title to the Property, including, without limitation, any objections to any matter shown on the Survey (collectively,
"Objections"). Buyer agrees that it shall diligently pursue its review of title and survey for each Building, and that upon completion of review of
title and survey of one Building, that it shall provide any objections for said Building, rather than wait until Buyer reviews title and survey for all Buildings before Buyer begins sending its
objections to Seller. In the event the Title Company amends or updates the Title Report after the Title Review Date (each, a "Title Report Update"),
Buyer shall furnish Seller with a written statement of Objections to any matter first raised in a Title Report Update within three (3) business days after its receipt of such Title Report
Update (each, a "Title Update Review  

10

 

 Period"). Should Buyer fail to notify Seller in writing of any Objections in the Title Report prior to the Title Review Date, or to any matter first disclosed in a Title Report
Update prior to the Title Update Review Period, as applicable, Buyer shall be deemed to have approved such matters which shall be considered to be "Conditions of
Title" as defined in Section 4.1(e) below. 

        (c)   If Seller receives a timely Objection in accordance with Section 4.1(b) ("Buyer's
Notice"), Seller shall have the right, but not the obligation, within five (5) business days after receipt of Buyer's Notice ("Seller's Response
Period"), to elect to attempt to cure any such matter upon written notice to Buyer ("Seller's Response"), and may extend the
Closing Date for up to fifteen (15) business days to allow such cure. If Seller does not give any Seller's Response, Seller shall be deemed to have elected not to attempt to cure any such
matters. Notwithstanding the foregoing, Seller shall in any event be obligated to cure all matters or items (i) that are mortgage or deed of trust liens or security interests or other voluntary
liens against the Property, in each case granted by Seller (and not tenants of the Property or other third parties), (ii) real estate tax liens, other than liens for taxes and assessments not
yet delinquent, (iii) claims of mechanic's or materialmen's liens under contracts entered into by Seller, which may be cured by Seller bonding over said liens, (iv) judgment liens
against Seller, which may be cured by Title Company insuring Buyer against collection and (v) that have been voluntarily placed against the Property by Seller (and not tenants of the Property
or other third parties) after the date of this Agreement and that are not otherwise permitted pursuant to the provisions hereof. Seller shall be entitled to apply the Purchase Price towards the
payment or satisfaction of such liens, and may cure any Objection by causing the Title Company to insure against collection of the same out of the Property. 

        (d)   If Seller elects (or is deemed to have elected) not to attempt to cure any Objections raised in any Buyer's Notice timely
delivered by Buyer to Seller pursuant to Section 4.1(b), or if Seller notifies Buyer that it elects to attempt to cure any such Objection but then does not for any reason effect such cure on or
before the Closing Date as it may be extended hereunder, then Buyer, as its sole and exclusive remedy, shall have the option of terminating this Agreement by delivering written notice thereof to
Seller within three (3) business days after (as applicable) (i) its receipt of Seller's Response stating that Seller will not attempt to cure any such Objection or (ii) the
expiration of Seller's Response Period if Seller does not deliver a Seller's Response or (iii) Seller's failure to cure by the Closing Date (as it may be extended hereunder) any Objection which
Seller has previously elected to attempt to cure pursuant to a Seller's Response. In the event of such a termination, the Deposit shall be returned to Buyer, and neither party shall have any further
rights or obligations hereunder except as provided in Sections 6.1, 9.3 and 9.9 below. If no such termination notice is timely received by Seller hereunder, Buyer shall be
deemed to have waived all such Objections in which event those Objections shall become "Conditions of Title" under Section 4.1(e). If the Closing
is not consummated for any reason other than Seller's default hereunder, Buyer shall be responsible for any title or escrow cancellation charges. 

        (e)   At the Closing, Seller shall convey title to the Property to Buyer by deeds in the form of  Exhibit C attached hereto (the "Deed") subject to no exceptions other than: 

	(i)
	Interests
of tenants in possession under the Leases;

	(ii)
	Matters
created by, or with the written consent of, Buyer;

	(iii)
	Non-delinquent
liens for real estate taxes and assessments; and

	(iv)
	Any
exceptions disclosed by the Title Report and any Title Report Update which is approved or deemed approved by Buyer in accordance with this Article IV above, and any
exceptions to title disclosed by the public records or which would be disclosed by an inspection and/or survey of the Property. 

11

 

        All
of the foregoing exceptions shall be referred to collectively as the "Conditions of Title." Subject to the terms and conditions
contained elsewhere in this Agreement, by acceptance of the Deed and the Closing of the purchase and sale of the Property, (x) Buyer agrees it is assuming for the benefit of Seller all of the
obligations of Seller with respect to the Conditions of Title from and after the Closing, and (y) Buyer agrees that Seller shall have conclusively satisfied its obligations with respect to
title to the Property. The provisions of this Section shall survive the Closing. Notwithstanding anything to the contrary contained herein, if the legal description of any Building attached hereto as  Exhibit A does not match the legal description of the Building contained in the vesting deed into Seller, then Seller reserves the right to
attach the vesting deed legal description to the Deed in lieu of the Exhibit A legal description. If the legal description of any Building
contained on a Survey does match either the legal description attached hereto as Exhibit A or the legal description contained in the vesting deed
into Seller, then, in addition to the Deed, Seller agrees to execute a quitclaim deed containing said Exhibit A legal and/or Survey legal, so
long as said legal descriptions (1) reasonably cover the same property intended to be conveyed, and (2) do not contain any property being retained by Seller. 

 Section 4.2    Evidence of Title.  

        Delivery of title in accordance with the foregoing shall be evidenced by the irrevocable written commitment, subject to the sole condition of payment of the
premium, of the Title Company to issue, at Closing, its Owner's TLTA Policy of Title Insurance for the Texas Buildings, a Leasehold ALTA Policy of Title Insurance for the Ground Lease and an Owner's
ALTA Policy of Title Insurance with extended coverage (i.e., General Exceptions 1-5 deleted to the extent permitted by the Conditions of Title) for all other Buildings in the amount of the
Purchase Price showing title to the Real Property vested in Buyer, subject only to the Conditions of Title (the "Title Policy"). The Title Policy may
contain such endorsements as reasonably required by Buyer provided that the issuance of such endorsements shall not be a condition to Buyer's obligations hereunder. Buyer shall pay the costs for all
such endorsements. Seller shall have no obligation to provide any indemnity or agreement to the Title Company or Buyer to support the issuance of the Title Policy or any such endorsements other than
an affidavit as to the existing tenants of the Property and any ongoing construction work at the Property. 

 
 

ARTICLE V
  
    RISK OF LOSS AND INSURANCE PROCEEDS    
    

 Section 5.1    Minor Loss.  

        Buyer shall be bound to purchase the Property for the full Purchase Price as required by the terms hereof, without regard to the occurrence or effect of any
damage to the Property or destruction of any improvements thereon or condemnation of any portion of the Property, provided that: (a) the cost to repair any such damage or destruction does not
exceed five percent (5.0%) of the Purchase Price in the estimate of an architect or contractor selected by Seller and reasonably acceptable to Buyer or in the case of a condemnation, the diminution in
the value of the remaining Property as a result of a partial threatened or completed condemnation is not material (as hereinafter defined) and (b) upon the Closing, there shall be a credit
against the Purchase Price due hereunder equal to the amount of any insurance proceeds or condemnation awards collected by Seller as a result of any such damage or destruction or condemnation, plus
the amount of any insurance deductible, less any sums expended by Seller toward the collection of such proceeds or awards and the restoration or repair of the Property (the nature of which restoration
or repairs, but not the right of Seller to effect such restoration or repairs, shall be subject to the approval of Buyer, which approval shall not be unreasonably withheld, conditioned or delayed). If
the proceeds or awards have not been collected as of the Closing, then such proceeds or awards shall be assigned to Buyer, except to the extent needed to reimburse Seller for 

12

 

sums
expended to collect such proceeds or awards or to repair or restore the Property, and Seller shall retain the rights to such proceeds and awards to such extent. 

        Buyer
acknowledges that Seller has received a notice of condemnation from Georgia D.O.T. for 3445 Breckenridge Boulevard, Duluth, Gwinnett County, Georgia (Project HPP IM
85-2(146) I-85/SR 316 Interchange Improvements, Parcel 6B), and if Buyer waives or is deemed to have waived its termination right under Section 2.2 of this
Agreement, then said condemnation is not material as hereinafter defined. 

 Section 5.2    Major Loss.  

        If the cost to repair the damage or destruction as specified above exceeds five percent (5.0%) of the Purchase Price in the estimate of an architect or contractor
selected by Seller and reasonably acceptable to Buyer or the diminution in the value of the remaining Property as a result of a condemnation is material (as hereinafter defined), then Buyer may, at
its option to be exercised within five (5) days of Buyer's receipt of the damage estimate or the commencement of condemnation proceedings, either terminate this Agreement or consummate the
purchase for the full Purchase Price as required by the terms hereof. If Buyer elects to terminate this Agreement by delivering written notice thereof to Seller or fails to give Seller notice within
such five (5) day period that Buyer will proceed with the purchase, then this Agreement shall terminate, the Deposit shall be returned to Buyer
and neither party shall have any further rights or obligations hereunder except as provided in Sections 6.1, 9.3 and 9.9 below. If Buyer elects to proceed with the purchase, then upon the Closing,
there shall be a credit against the Purchase Price due hereunder equal to the amount of any insurance proceeds or condemnation awards collected by Seller as a result of any such damage or destruction
or condemnation, plus the amount of any insurance deductible, less any sums expended by Seller toward the collection of such proceeds or awards or to restoration or repair of the Property (the nature
of which restoration or repairs, but not the right of Seller to effect such restoration or repairs, shall be subject to the approval of Buyer, which approval shall not be unreasonably withheld,
conditioned or delayed). If the proceeds or awards have not been collected as of the Closing, then such proceeds or awards shall be assigned to Buyer, except to the extent needed to reimburse Seller
for sums expended to collect such proceeds or awards or to repair or restore the Property, and Seller shall retain the rights to such proceeds and awards to such extent. A condemnation shall be deemed
material if as a result of the taking or if reasonably likely in a pending proceeding, any portion of any net rentable area of the Improvements, or any parking is taken which would cause the Property
to be in violation of any existing laws or regulations, including but not limited to, zoning regulations, or the existing access to the Property is materially and adversely affected, permanently. 

 Section 5.3    Uninsured Loss.  

        In the event of uninsured damage or destruction to any portion of the Property for which Seller is unwilling to pay for the cost of repair, if the parties are
unable to agree on a course of action, then Buyer shall elect by the earlier of (a) five (5) business days after written demand by Seller for Buyer to make an election or
(b) Closing, to either (1) terminate this Agreement and receive a full refund of the Deposit and the parties shall have no further rights or obligations hereunder except those that
expressly survive a termination, or (2) proceed to Closing without receiving any credit against the Purchase Price as a result of such uninsured damage or destruction. If Buyer fails to make a
timely election or refuses to Close in such event, this Agreement shall terminate and Buyer shall receive a full refund of the Deposit, and the parties shall have no further rights or obligations
hereunder except those that expressly survive a termination. 

13

  

 
 

ARTICLE VI
  
    BROKERS AND EXPENSES    
    

 Section 6.1    Brokers.  

        The parties represent and warrant to each other that no broker or finder was instrumental in arranging or bringing about this transaction except for CB Richard
Ellis ("Seller's Broker"). At Closing, Seller shall pay the commission due, if any, to Seller's Broker, which shall be paid pursuant to a separate
agreement between Seller and Seller's Broker. If any other person brings a claim for a commission or finder's fee based upon any contact, dealings or communication with Buyer or Seller, then the party
through whom such person makes his claim shall defend the other party (the "Indemnified Party") from such claim, and shall indemnify the Indemnified
Party and hold the Indemnified Party harmless from any and all costs, damages, claims, liabilities or expenses (including without limitation, court costs and reasonable attorneys' fees and
disbursements) incurred by the Indemnified Party in defending against the claim. The provisions of this Section 6.1 shall survive the Closing or, if the purchase and sale is not consummated,
any termination of this Agreement. 

 Section 6.2    Expenses.  

        Except as expressly provided in this Agreement, each party hereto shall pay its own expenses incurred in connection with this Agreement and the transactions
contemplated hereby. 

 
 

ARTICLE VII
  
    LEASES AND OTHER AGREEMENTS    
    

 Section 7.1    Buyer's Approval of New Leases and Agreements Affecting the Property.  

        Between the Effective Date and the Closing, Seller shall continue to lease the Property in the same manner as before the making of this Agreement, the same as
though Seller were retaining the Property provided that (i) before the expiration of the Contingency Period, any new Lease executed by Seller (and any renewal, extension or expansion not
subject to an agreed fixed rate) must provide for terms consistent with the "Cash Flow Assumptions" provided in the Sales Package or as otherwise approved by Buyer; and (ii) after the
expiration of the Contingency Period Seller shall not enter into any new Lease or other agreement affecting the Property, or modify or terminate any existing Lease or other agreement affecting the
Property, which will be binding on the Property after Closing, except as permitted or required under any Lease and except for agreements which are terminable on no more than sixty (60) days'
notice without payment of any penalty or fee or other cost to Seller, without first obtaining Buyer's approval of the proposed action, which approval will not be unreasonably withheld, conditioned or
delayed. In such case, Buyer shall specify in detail the reasons for its disapproval of any such proposed action. If Buyer fails to give Seller notice of its approval or disapproval of any such
proposed action requiring its approval under this Section 7.1 within three (3) business days after Seller notifies Buyer of Seller's desire to take such action, then Buyer shall be
deemed to have given its approval. Any new Lease or other agreement or amendment shall be on Seller's standard forms for such documents. Buyer agrees to cooperate with Seller in enabling Seller to
complete any such proposed transaction requiring Buyer's approval. Prior to expiration of the Contingency Period, Seller's rights hereunder shall be subject to the Seller's giving Buyer five
(5) days prior written notice before entering into any new Leases or agreements affecting the Property and in any case at least three (3) days prior to the expiration of the Contingency
Period. 

 Section 7.2    Tenant Improvement Costs, Leasing Commissions and Concessions.  

        With respect to any new Lease or Lease modification entered into by Seller between June 21, 2004 and the Closing Date, and with respect to any renewal or
extension of any Lease, whether through the 

14

 

exercise
of an option or otherwise, occurring between such date and the Closing Date, all tenant improvement work, leasing commissions, legal fees or other expenses or grants of any free rent period
or other concessions ("Leasing Costs") shall be prorated over the term of the lease, renewal or extension, based on the economic benefit to the parties hereto occurring before or after the Closing.
Seller's share of such costs shall be based on the portion of economic benefit of the lease term, renewal or extension, as the case may be, occurring prior to Closing, which amount shall be a credit
against the Purchase Price, and Buyer shall be responsible for the remainder of such costs. Buyer shall reimburse Seller for all such costs incurred by Seller to the extent Buyer is obligated therefor
pursuant to the provisions hereof. Pursuant to the Assignment of Leases Buyer shall assume any then outstanding obligations with respect to such tenant improvements, leasing commissions and
concessions. With respect to Leases or Lease modifications or renewals entered into before June 21, 2004, Seller shall be responsible for and shall pay on the Closing Date all Leasing Costs
applicable to the then current term of such Leases and Lease modifications or renewals. The provisions of this Section shall survive the Closing. 

 Section 7.3    Tenant Notices.  

        At the Closing, Seller shall furnish Buyer with a signed notice to be given to each tenant of the Property. The notice shall disclose that the Property has been
sold to Buyer, that, after the Closing, all rents should be paid to Buyer and that Buyer shall be responsible for all the tenant's security deposit. The form of the notice shall be otherwise
reasonably acceptable to the parties. Buyer covenants to deliver said notices to each tenant as soon as reasonably possible after Closing. This provision shall expressly survive Closing. 

 Section 7.4    Maintenance of Improvements and Operation of Property; Removal of Tangible Personal Property.  

        Seller agrees to keep its customary property insurance covering the Property in effect until the Closing (provided, however, that the terms of any such coverage
maintained in blanket form may be modified
as Seller deems necessary). Seller shall maintain all Improvements substantially in their present condition (ordinary wear and tear, casualty and condemnation excepted), and shall operate and manage
the Property in a manner consistent with Seller's practices in effect prior to the Effective Date, provided that Seller shall in no event be obligated to make any capital expenditures or repairs.
Seller shall not remove any Tangible Personal Property, except as may be required for necessary repair or replacement, and replacement shall be of approximately equal quality and quantity as the
removed item of Tangible Personal Property. 

 Section 7.5    Service Contracts.  

        Within three (3) business days prior to the expiration of the Contingency Period, Buyer will advise Seller in writing which Service Contracts Buyer will
assume and which Service Contracts Buyer requests be terminated at Closing (and Buyer's failure to so advise Seller in writing shall be deemed to constitute Buyer's election to assume all such Service
Contracts), provided Seller shall have no obligation to terminate, and Buyer shall be obligated to assume, any Service Contracts which by their terms cannot be terminated without penalty or payment of
a fee or other cost to Seller. Seller shall deliver at Closing notices of termination of all Service Contracts that are not so assumed and Buyer shall be responsible for any charges applicable to
periods commencing with the Closing. Notwithstanding the foregoing, (a) for any Service Contracts which apply to any portion of the Property plus other property owned by Seller and not included
in this transaction, Seller shall not be required to assign said Service Contract, and at Closing, Seller shall exclude the applicable Property from said Service Contracts and (b) Seller shall
terminate, as of the Closing Date, all existing management and leasing agreements with respect to the Property. 

15

 

 Section 7.6    Master Lease.  

        (a)   On the Closing Date, and subject to the consummation of the transaction contemplated herein, Buyer shall lease to Seller,
and Seller shall lease from Buyer, approximately 792,486 square feet of vacant space in the portions of the Property set forth in Exhibit J (the
Master Lease Schedule) (the "Master Leased Space"), at the applicable base rent and operating expense reimbursement set forth in the Master Lease
Schedule and upon the other terms and conditions set forth in the Master Lease Schedule. Seller and Buyer shall execute and deliver a lease substantially in Seller's applicable current standard lease
form, with appropriate modifications consistent with a master lease, pursuant to the
terms of which Buyer shall lease the Master Leased Premises to Seller following the Closing (the "Master Lease"). Seller and Buyer shall negotiate the
final form of such lease in good faith. 

        (b)   At the Closing, an amount equal to $3,457,000.00 (the "Holdback") shall
be held back from the Purchase Price and deposited into escrow with Escrow Agent pursuant to a Holdback Escrow Agreement (the "Holdback Escrow
Agreement") in form reasonably acceptable to Seller, Buyer and Escrow Agent. The Holdback represents the base rent and operating expense reimbursements scheduled to be paid
under the Master Lease over the entire term for all of the Master Leased Space, and the Holdback, as allocated to each vacant space, represents the maximum liability of Seller for each vacant space
(i.e. the Base Rent Obligation plus the Operating Expense Obligation for each vacant space divided by the number of months of master lease for each space represents the monthly gross rent payable by
Seller under the Master Lease. The Escrow Agent shall pay to Buyer out of the Holdback base rent and operating expense reimbursements as and when they become due under the Master Lease. When Buyer and
a third party tenant enter into a lease for any portion of the Master Leased Space, and subsequently, when the conditions for dropping the space have been satisfied (such date being defined as the
"Drop Date" below) and the Master Lease is modified to exclude such space from the Master Lease, Seller and Buyer shall instruct Escrow Agent to release to Seller the portion of the Holdback, if any,
applicable to the base rent and operating expense reimbursements scheduled to be paid from the Drop Date over the remaining term of the Master Lease applicable to the dropped space. Subject to the
full payment and performance by Seller of its obligations under the Master Lease, any Holdback remaining upon the expiration, or earlier termination of the Master Lease as a result of the complete
substitution of space under third party leases, shall be released to Seller. 

        (c)   Seller or its agent, as leasing agent under the leasing agreement described below, shall present from time to time to
Buyer proposed third-party leases (together with applicable tenant financial information and other information customarily provided to institutional owners of industrial property in such packages).
Buyer shall notify Seller within five business days of receipt of the package if it rejects or accepts the proposed lease, subject to confirmation of the information provided therein and agreement on
the final lease form. Buyer is not obligated to enter into any third-party leases covering the Master Leased Space unless it meets the Approval Criteria set forth in  Exhibit I (including the terms
of the Master Lease Schedule) and the lease form and other lease terms are reasonably satisfactory to Buyer. The
amounts for Tenant Improvements and Commissions in the Master Lease Schedule are the maximum amounts that can be required of Buyer under any proposed third-party lease. If a proposed third-party lease
meets the Approval Criteria except that it contains Tenant Improvement and Commissions amounts in excess of those on the Master Lease Schedule, and Buyer rejects said proposal solely because of such
excess costs, Seller shall have the right to pay for the following items, in which event Buyer shall accept the proposed lease: (i) any and all tenant improvements for the primary term in
excess of the amounts indicated in the Master Lease Schedule, (ii) leasing commissions for the primary term in excess of the amounts indicated in the Master Lease Schedule, (iii) any
rent concessions, 

16

 

allowances,
inducements, or payments or the like, and (iv) reasonable attorneys' fees and expenses associated with the negotiation of the third-party lease. 

        (d)   If, as and when Buyer executes leases to third-party tenants covering portions of the Master Lease Space, then effective
as of the later date (the "Drop Date") that (i) the third-party tenant has paid its first monthly installment of base rent and (ii) the date for which the first month's rent is due, the
Master Lease shall be modified to drop the portion of the space covered by such third-party lease from the space covered by the Master Lease, and reducing the rental under the Master Lease by the
amount applicable to such third-party space as set forth in the Master Lease Schedule; provided, however, that any rent paid by said third party tenant prior to the Drop Date shall be credited at that
time against Seller's obligations to pay rent under the Master Lease. If by Closing, a tenant has leased and is paying rent on any Master Leased Space, the parties shall adjust the Holdback amount and
Master Lease to reflect said interim lease. In the event that said third-party tenant initially pays a reduced rent (i.e. at below the stabilized rent under the Lease) or receives free rent, then
Escrow Agent shall pay to Buyer from the Holdback the difference between said reduced rent or free rent and the Master Lease rent, and Seller shall receive payment from the Holdback of the amount of
reduced rent required to be paid by said third-party tenant. 

        (e)   Buyer shall enter into a management and leasing agreement for the term of the Master Lease for each project in which all
or some of the space in such project is being leased under the Master Lease, in which Seller, or its agent, shall manage and lease such projects for Buyer. If a Building that is subject to the Master
Lease is part of a project (as defined in Section 8.4(a)) that contains more than one Building to be acquired by Buyer, Seller shall have the right to manage and lease all of the Buildings in
the project during the Master Lease period. The management and leasing agreement shall provide for a leasing commission consistent with the Master Lease Schedule and shall be in a form reasonably
acceptable to an institutional owner of industrial properties. Seller and Buyer shall negotiate the final form of such management and leasing agreement in good faith, which management fee shall be the
management fee used in calculating the estimated operating expense reimbursements for the Master Lease. 

 
 

ARTICLE VIII
  
    CLOSING AND ESCROW    
    

 Section 8.1    Escrow Instructions.  

        The escrow instructions to Escrow Agent will be in the form of Exhibit H attached hereto (the "Escrow
Instructions"), which shall be executed by Seller and Buyer simultaneously with this Agreement, for delivery to Escrow Agent. Seller and Buyer agree to execute such reasonable additional and
supplementary escrow instructions as may be appropriate to enable the Escrow Agent to comply with the terms of this Agreement. 

 Section 8.2    Closing.  

        The Closing hereunder shall be held and delivery of all items to be made at the Closing under the terms of this Agreement shall be made on, but not before,
October 1, 2004, and before 11:00 a.m. Eastern time, or such other earlier date and time as Buyer and Seller may mutually agree upon in writing (the "Closing
Date"). The Closing shall be held at the offices of the Title Company or as otherwise mutually agreed on by the parties. Except as expressly provided herein, such date and time
may not be extended without the prior written approval of both Seller and Buyer. 

17

 

 Section 8.3    Deposit of Documents.  

        (a)   At or before the Closing, each Seller shall deposit into escrow the following items: 

        (1)   the duly executed and acknowledged Deeds in the form attached hereto as  Exhibit C conveying the Real Property to Buyer subject to the
Conditions of Title; 

        (2)   four (4) duly executed counterparts of the Bill of Sale in the form attached hereto as  Exhibit D (the "Bill of
Sale"); 

        (3)   four (4) duly executed counterparts of an Assignment and Assumption of Leases, Service Contracts, Warranties and
Other Intangible Property in the form attached hereto as Exhibit E pursuant to the terms of which Buyer shall assume all of Seller's obligations
under the Leases, Service Contracts, and other documents and agreements affecting the Property (the "Assignment of Leases"); 

        (4)   an affidavit pursuant to Section 1445(b)(2) of the Code, and on which Buyer is entitled to rely, that Seller is
not a "foreign person" within the meaning of Section 1445(f)(3) of the Code; 

        (5)   California 597-W Certificate for California Properties; 

        (6)   two (2) duly executed counterparts of the Master Lease, and Holdback Escrow Agreement, executed by the Seller; 

        (7)   two (2) duly executed counterparts of the management and leasing agreement described in  Section 7.6(d) executed by Seller or its agent;
and 

        (8)   four (4) duly executed counterparts of an Assignment and Assumption of the Ground Lease, consented to by Ground
Lessor, in recordable form to be recorded at Closing, which consent of Ground Lessor shall be a condition to Closing. 

        (b)   At or before Closing, Buyer shall deposit into escrow the following items: 

        (1)   immediately available funds necessary to close this transaction, including, without limitation, the Purchase Price (less
the Deposit and interest thereon net of investment fees, if any) and funds sufficient to pay Buyer's closing costs and share of prorations hereunder; 

        (2)   four (4) duly executed counterparts of the Bill of Sale; 

        (3)   four (4) duly executed counterparts of the Assignment of Leases; 

        (4)   two (2) duly executed counterparts of the Master Lease, and Holdback Escrow Agreement, executed by the Buyer; 

        (5)   two (2) duly executed counterparts of the management and leasing agreement described in  Section 7.6(e); and 

        (6)   four (4) duly executed counterparts of an Assignment and Assumption of the Ground Lease, which consent of Ground
Lessor shall be a condition to Closing 

        (c)   Seller and Buyer shall each execute and deposit a closing statement, such transfer tax declarations and such other
instruments as are reasonably required by the Title Company or otherwise required to close the escrow and consummate the acquisition of the Property in accordance with the terms hereof. Seller and
Buyer hereby designate Title Company as the "Reporting Person" for the transaction pursuant to Section 6045(e) of the Code and the regulations
promulgated thereunder and agree to execute such documentation as is reasonably necessary to effectuate such designation. 

18

 

        (d)   Within five (5) business days after the Closing Date, Seller shall deliver or make available at the Property to
Buyer: originals of the Leases to the extent in Seller's possession, or copies of any Leases not in Seller's possession together with an affidavit from Seller as to such copies being true and complete
copies of the applicable Lease(s), copies of the tenant correspondence files (for the three (3) most recent years of Seller's ownership of the Property only and the current year), and originals
of any other items which Seller was required to furnish Buyer copies of or make available at the Property pursuant to Sections 2.1(b) or (e) above, to the extent in Seller's possession, except
for Seller's general ledger and other internal books or records which shall be retained by Seller. Seller shall deliver possession of the Property to Buyer as required hereunder and shall deliver to
Buyer or make available at the Property a set of keys to the Property on the Closing Date. 

 Section 8.4    Estoppel Certificates.  

        (a)   If in accordance with Article II of this Agreement Buyer elects to proceed with the purchase of the Property, then
Seller shall use commercially reasonable efforts to obtain estoppel certificates from each tenant of the Property substantially in the form attached hereto as  Exhibit F or, if a tenant's lease
requires a different form, in the form required by the tenant's lease, or as otherwise provided in this
paragraph below. It shall be a condition to Buyer's obligation to close the sale and purchase of the Property that on or before the Closing, Buyer is able to obtain an estoppel certificate
substantially in such form (i) from all of the Major Tenants (defined as any tenant occupying over 75,000 square feet of a Building, and QPL Electronics Distributors Inc. (14 & 16
Progress, Boston), Best Software (3445 Breckenridge Blvd., Atlanta), WA Butler (1302 Avenue R, Dallas), Sermatech International (12505 Reed Road, Houston), PHD Manufacturing (1640 South
39th Ave., Phoenix), Laboratory Corp. of America (3930 East Watkins St., Phoenix) and XO Arizona (3930 East Watkins St., Phoenix)) and (ii) for each project in the Property
[a "project" is each building or buildings grouped together in the Investment Summary; for example, 3435 and 3445 Breckinridge Blvd. in Atlanta is one project], for Leases that
in the aggregate for such project cover at least 65% of the total rentable square feet of such project actually rented to tenants and that represent at least 65% of the base rent revenue of such
project (collectively, the "Estoppel Threshold"). The Estoppel Threshold shall be measured against the rent roll of the Property as of the date hereof
(i.e. Seller will not have to deliver estoppels for tenants who have executed Leases after the date hereof), but exclusive of any Leases which expire after the Effective Date or are otherwise
terminated with Buyer's approval or by a tenant pursuant to an express termination right under its Lease after the Effective Date. All estoppel certificates shall be dated no more than
forty-five (45) days prior to the originally scheduled Closing Date. An estoppel certificate, even though not in the required estoppel form, will be deemed reasonably acceptable to
Buyer if it (i) contains the following information: confirming rent, security deposit, and termination date; that no rent has been paid more than one month in advance; that the Lease is in full
force and effect and that a true and correct copy of the Lease with all amendments and modifications is attached; and that all work to be performed by landlord has been performed and that the tenant
has no knowledge of any landlord default, (ii) is on the form required by the Lease, or (iii) is on the standard form of a tenant which customarily issues its own form. If Seller is
unable to satisfy the Estoppel Threshold, Seller may (but is not required to) deliver estoppel certificates containing the information set forth in clause (i) above executed by Seller covering
such leases as are sufficient, when aggregated with the tenant estoppel certificates previously delivered, to satisfy the Estoppel Threshold, provided that Buyer shall not be obligated to accept
Seller estoppel certificates that collectively cover in excess of ten percent (10%) of the area of the Property actually rented to tenants. Seller's representations and warranties in any Seller
estoppel certificates will survive the Closing, subject to the limitations contained in Sections 3.2, 3.3, 3.4, 9.11 and 9.19 hereof. In the event that Buyer receives an estoppel certificate
from a tenant complying with the 

19

 

requirements
of this Section 8.4 and for which Seller previously delivered its estoppel certificate, Seller shall be automatically released from any liability or obligation under its estoppel
certificate. 

        (b)   If Seller is unable to obtain and deliver sufficient tenant estoppel certificates as required under
Section 8.4(a), or if the certificates received or substituted Seller estoppels contain material information or omissions unacceptable to Buyer in its reasonable discretion and Buyer objects
thereto by written notice to Seller within two (2) business days after receipt by Buyer of the objectionable estoppel, but in any event on or before the Closing Date, then Seller will not be in
default by reason thereof, and Seller may elect to extend the Closing Date by up to thirty (30) days in order to satisfy the requirement. If Seller still cannot satisfy the requirement at the
end of such extended period, then Buyer may, by written notice given to Seller before the Closing, elect to terminate this Agreement and receive a
refund of the Deposit or waive said condition. If Buyer so elects to terminate this Agreement, neither party shall have any further rights or obligations hereunder except as provided in
Section 6.1 above and Sections 9.3 and 9.9 below. If no such notice is delivered by Buyer, Buyer shall be deemed to have waived such condition. 

 Section 8.5    Prorations.  

        (a)   Rents, including, without limitation, percentage rents, if any, and any additional charges and expenses payable by
tenants under Leases, all as and when actually collected; real property taxes and assessments; water, sewer and utility charges; amounts payable under any Service Contracts or other agreements or
documents; annual permits and/or inspection fees (calculated on the basis of the period covered); and any other expenses of the operation and maintenance of the Property (including, without
limitation, expenses prepaid by Seller and expenses already paid by Seller but which are being amortized over time by Seller and with respect to which Seller shall receive a credit at Closing in the
amount of the prepaid or unamortized portion thereof), shall all be prorated as of 11:59 p.m. on the day immediately prior to Closing (i.e., Buyer is entitled to the income and responsible for
the expenses of the day of Closing), on the basis of a 365-day year. Buyer shall reimburse Seller for the Leasing Costs due Seller, as provided in Section 7.2. Seller shall pay, or
credit Buyer, for the Leasing Costs for which Seller is responsible pursuant to Section 7.2. 

        All
rents collected after the Closing shall be applied and paid as provided in this Section 8.5(a). If a tenant shall specifically designate a payment as being attributable to, or
if it is readily ascertainable that a payment received from a tenant is attributable to reimbursement for work performed by Seller on the tenant's premises, such payment shall be so applied. If there
is no such designation or if not so readily ascertainable, any payment received from a tenant after Closing shall be deemed a payment of rent due after the Closing until the tenant is current on rents
and sums due under the applicable Lease on or after the Closing, and then such payments shall be paid to Seller to the extent of any rent or other sums owing to Seller for periods prior to Closing.
Buyer shall use reasonable efforts to collect such rents and other sums owing to Seller. Seller retains the right to collect any such rents and other sums from tenants after Closing; provided,
however, that Seller shall have no right to cause any such tenant to be evicted or to exercise any other landlord remedy against such tenant other than to sue for collection. 

        Reconciliations
of taxes, insurance charges and other expenses owed by tenants under Leases for the calendar year (or fiscal year if different from the calendar year) in which the
Closing occurs shall be prepared by Buyer with the cooperation of Seller within 90 days following the end of such year in accordance with the requirements set forth in the Leases and as
provided in this Section 8.5(a). For those Leases in which tenants pay a proportionate share of taxes, insurance charges or other expenses over a base year amount or expense stop, the proration
between the parties of the income received from tenants over such base year amount or expense stop shall be calculated based on the total amount of such expenses for the Property incurred by both
Seller and Buyer for the entire calendar (or, if 

20

 

applicable,
fiscal) year, rather than on the amount of such expenses actually incurred by each party for such year, in order to enable the parties to determine if the base year amount or expense stop
for such year is exceeded. Such income as so calculated shall be prorated between the parties based on the number of days each party owned the Property during such year and otherwise in accordance
with this Section 8.5(a). By way of illustration but without limiting the foregoing, if: (i) the Closing occurs on June 1, 2004, (ii) during Seller's period of ownership of
the Property during the year 2004 (151 days), Seller incurred expenses of $450,000, (iii) during Buyer's period of ownership of the Property during the year 2004 (214 days), Buyer
incurred expenses of $500,000, (iv) total expenses for such year recovered from tenants under Leases is $400,000 (e.g., $950,000 total expenses minus a total base year amount of $550,000), then
Seller would be entitled to $165,479.45 of such income ($400,000/365 days = $1,095.89 per diem multiplied by 151 days) and Buyer would be entitled to $234,520.55 of such income
($1,095.89 per diem multiplied by 214 days), regardless of the actual amount of expenses actually incurred by each party (which would have instead resulted in Seller receiving $189,473.68 of
such income and Buyer receiving $210,526.32 of such income). For Leases which do not have a base year amount or expense stop, the proration between the parties of income received from tenants from
reconciliations of expenses under the Leases shall be calculated based on the expenses actually incurred by each party for such year and each party's period of ownership of the Property, and otherwise
in accordance with this Section 8.5(a). 

        The
amount of any cash security deposits held by Seller under Leases shall be credited against the Purchase Price (and Seller shall be entitled to retain such cash security deposits).
With respect to any security deposits held in the form of letters of credit, if the same are transferable by their terms, Seller shall deliver such letters of credit to Buyer at the Closing, along
with Seller's execution of any reasonable transfer request of the issuing bank necessary to transfer the letter of credit to Buyer, but in any event at no cost or expense to Seller. If such letters of
credit are not transferable by their terms, Seller shall reasonably cooperate with Buyer so as to effect a transfer or re-issuance of such letters of credit to Buyer at Closing or as soon
thereafter as may be reasonably possible. If, despite such efforts, such letters of credit are not transferred or re-issued to Buyer as of Closing, then after Closing, pending such
transfer or re-issuance, if Buyer certifies to Seller that it is entitled to all or any portion of the security deposit under the Lease, Seller (at Buyer's expense) shall reasonably
cooperate with Buyer to make all or any portion of the proceeds of such letters of credit available to Buyer; provided, however, that Buyer shall indemnify Seller against any and all claims, damages
and expenses related to carrying out Buyer's directions. Buyer shall cause all utilities to be transferred into Buyer's name and account at the time of Closing, and shall make any utility deposits.
All of Seller's utility deposits shall be refunded to Seller, and if Buyer receives any Seller utility deposits, Buyer shall promptly pay them over to Seller. 

        Seller
and Buyer hereby agree that if any of the aforesaid prorations and credits cannot be calculated accurately on the Closing Date, in the case of an error, or in the case of rents or
other charges received from tenants, such amount have not been collected, then the same shall be calculated as soon as reasonably practicable after the Closing Date or the date such amounts have been
collected, and either party owing the other party a sum of money based on such subsequent proration(s) or credits shall pay said sum to the other party within thirty (30) days thereafter. Any
amounts not paid within such thirty (30) day period shall bear interest from the date actually received by the payor until paid at the greater of (i) the rate of ten percent (10%) per
annum or (ii) the prime rate (or base rate) reported from time to time in the "Money Rates" column or section of The Wall Street Journal as being
the base rate on corporate loans at larger United States money center commercial banks plus two (2) percent. Upon request of either party, the parties shall provide a detailed and accurate
written statement signed by such party certifying as to the payments received by such party from tenants from and after Closing and to the manner in which such payments were applied, and shall make
their books and records available for inspection by the other party during ordinary business hours upon reasonable advance notice. 

21

 

        (b)   All basic owner's title charges (excluding extended coverage, any of Buyer's endorsements, reinsurance charges, lender's
policy premiums, costs to remove the standard survey exception in Texas, and the additional premium costs resulting from the issuance of separate title policies for any of the buildings comprising the
Property or the upgrade of a CLTA policy in California to an ALTA policy) in California, Texas and Arizona and all sale and transfer taxes or similar taxes imposed upon the transfer of the Property by
applicable law shall be paid by Seller at Closing; other than the city transfer tax paid in California, which shall be split equally between Buyer and Seller. For the purpose of calculating insurance
premiums to be paid by each party, the parties acknowledge that Seller has obtained an aggregate premium quote, and the parties agree that the premium quote (based on $x/$1,000) shall be uniformly
applied to the purchase price of each Property in each county/state for purposes of calculating each party's share of the title premium. Except as set forth above, all title charges (including
endorsements and reinsurance charges), survey costs, escrow or closing fees, sale and transfer taxes, recording fees or taxes, documentary taxes and similar taxes and fees imposed upon the transfer of
the Property by applicable law shall be paid by Buyer at Closing. Any escrow fees shall be split equally between Seller and Buyer. The parties will execute and deliver any required transfer or other
similar tax declarations to the appropriate governmental entity at Closing. 

        (c)   The provisions of this Section 8.5 shall survive the Closing. 

 
 

ARTICLE IX
  
    MISCELLANEOUS    
    

 Section 9.1    Notices.  

        Any notices required or permitted to be given hereunder shall be given in writing and shall be delivered (a) in person, (b) by certified mail,
postage prepaid, return receipt requested, (c) by facsimile with confirmation of receipt, or (d) by a commercial overnight courier that guarantees next business day delivery and provides
a receipt, and such notices shall be addressed as follows: 

	To Buyer:	 	Dividend Capital Operating Partnership LP

518 17th Street, Suite 1700

Denver, Colorado 80202

Attention: Teresa L. Corral

Phone No.: (303) 226-1470

Fax No.: (303) 228-2201	 	 
	

with a copy to:	
 	

Mayer, Brown, Rowe & Maw LLP

190 South LaSalle Street

Chicago, Illinois 60603

Attention: George Ruhlen and Milos Markovic

Phone No.: (312) 701-7202

Fax No.: (312) 701-7711	
 	

 
	

To Seller:	
 	

c/o RREEF 280 Park Avenue, 40th Floor

New York, New York 10017

Attention: Peter F. Feinberg

Phone No.: (212) 454-3900

Fax No.: (212) 454-6616	
 	

 
	 	 	 	 	 

22

 

	

with a copy to:	
 	

Alston & Bird LLP

1201 W. Peachtree Street

Atlanta, Georgia 30309

Attention: James G. Farris, Jr.

Phone No.: (404) 881-7896

Fax No.: (404) 881-7777	
 	

 

or
to such other address as either party may from time to time specify in writing to the other party. Any notice or other communication sent as hereinabove provided shall be deemed effectively given
(a) on the date of delivery, if delivered in person; (b) on the date mailed if sent by certified mail, postage prepaid, return receipt requested or by a commercial overnight courier; or
(c) on the date of transmission, if sent by facsimile with confirmation of receipt. Such notices shall be deemed received (a) on the date of delivery, if delivered by hand or overnight
express delivery service; (b) on the date indicated on the return receipt if mailed; or (c) on the date of transmission, if sent by facsimile. If any notice mailed is properly addressed
but returned for any reason, such notice shall be deemed to be effective notice and to be given on the date of mailing. Any notice sent by the attorney representing a party, shall qualify as notice
under this Agreement. 

 Section 9.2    Entire Agreement.  

        This Agreement, together with the Exhibits and schedules hereto, contains all representations, warranties and covenants made by Buyer and Seller and constitutes
the entire understanding between the parties hereto with respect to the subject matter hereof. Any prior correspondence, memoranda or agreements are replaced in total by this Agreement together with
the Exhibits and schedules hereto. 

 Section 9.3    Entry and Indemnity.  

        In connection with any entry by Buyer, or its agents, employees or contractors onto the Property, Buyer shall give Seller reasonable advance notice of such entry
and shall conduct such entry and any inspections in connection therewith (a) during normal business hours, (b) so as to minimize, to the greatest extent possible, interference with
Seller's business and the business of Seller's tenants, (c) in compliance with all applicable laws, and (d) otherwise in a manner reasonably acceptable to Seller. Without limiting the
foregoing, prior to any entry to perform any on-site testing, including but not limited to any borings, drillings or samplings, Buyer shall give Seller written notice thereof, including
the identity of the company or persons who will perform such testing and the proposed scope and methodology of the testing. Seller shall approve or disapprove, in Seller's sole discretion, the
proposed testing within three (3) business days after receipt of such notice. If Seller fails to respond within such three (3) business day period, Seller shall be deemed to have
disapproved the proposed testing. If Buyer or its agents, employees or contractors take any sample from the Property in connection with any such approved testing, Buyer shall provide to Seller a
portion of such sample being tested to allow Seller, if it so chooses, to perform its own testing. Buyer shall permit Seller or its representative to be present to observe any testing or other
inspection or due diligence review performed on or at the Property. Upon the request of Seller, Buyer shall promptly deliver to Seller copies of any reports relating to any testing or other inspection
of the Property performed by Buyer or its agents, representatives, employees, contractors or consultants. Notwithstanding anything to the contrary contained herein, Buyer shall not contact any
governmental authority or any tenant without first obtaining the prior written consent of Seller thereto in Seller's sole discretion, and Seller, at Seller's election, shall be entitled to have a
representative participate in any telephone or other contact made by Buyer to a governmental authority or tenant and present at any meeting by Buyer with a governmental authority or tenant. Buyer
shall maintain, and shall assure that its contractors maintain, public liability and property damage insurance in amounts and in form and substance adequate to insure against all liability of Buyer
and its agents, employees or contractors, arising out of any entry or 

23

 

inspections
of the Property pursuant to the provisions hereof, and Buyer shall provide Seller with evidence of such insurance coverage upon request by Seller. Buyer shall indemnify and hold Seller
harmless from and against any costs, damages, liabilities, losses, expenses, liens or claims (including, without limitation, court costs and reasonable attorneys' fees and disbursements) arising out
of or relating to any entry on the Property by Buyer, its agents, employees or contractors in the course of performing the inspections, testings or inquiries provided for in this Agreement, including,
without limitation, any release of Hazardous Materials or any damage to the Property; provided that Buyer shall not be liable to Seller solely as a result of (i) the discovery by Buyer of a
pre-existing condition on the Property to the extent the activities of Buyer, its agents, representatives, employees, contractors or consultants are conducted without negligence or
(ii) disclosures required by law to be made to any governmental authorities as a result of Buyer's inspections provided that Buyer first shall promptly notify Seller of such intended disclosure
so that Seller may seek an appropriate protective order or other remedy in connection with such disclosure, and Buyer shall reasonably cooperate with Seller in obtaining such protective order or other
remedy. The provisions of this Section 9.3 shall be in addition to any access or indemnity agreement previously executed by Buyer in connection with the Property; provided that in the event of
any inconsistency between this Section 9.3 and such other agreement, the provisions of this Section 9.3 shall govern. The
foregoing indemnity shall survive beyond the Closing, or, if the sale is not consummated, beyond the termination of this Agreement. Buyer's right of entry, as provided in this Section 9.3,
shall continue up through the date of Closing. 

 Section 9.4    Time.  

        Time is of the essence in the performance of each of the parties' respective obligations contained herein. If the time period by which any right, option or
election provided under this Agreement must be exercised, or by which any act required hereunder must be performed, or by which the Closing must be held, expires on a Saturday, Sunday or legal or bank
holiday, then such time period shall be automatically extended through the close of business on the next regularly scheduled business day. 

 Section 9.5    Attorneys' Fees.  

        If either party hereto fails to perform any of its obligations under this Agreement or if any dispute arises between the parties hereto concerning the meaning or
interpretation of any provision of this Agreement, whether prior to or after Closing, or if any party defaults in payment of its post-Closing financial obligations under this Agreement,
then the defaulting party or the party not prevailing in such dispute, as the case may be, shall pay any and all costs and expenses incurred by the other party on account of such default and/or in
enforcing or establishing its rights hereunder, including, without limitation, court costs and reasonable attorneys' fees and disbursements. 

 Section 9.6    Assignment.  

        Buyer's rights and obligations hereunder shall not be assignable without the prior written consent of Seller in Seller's sole discretion. Notwithstanding the
foregoing, Buyer shall have the right, without the necessity of obtaining Seller's consent but with prior written notice to Seller, to assign its right, title and interest in and to this Agreement or
with respect to one or more properties to a separate account, or any entity in which Buyer is a general partner or manager, or an entity owned by a separate account, or any entity in which Buyer is a
general partner or manager, of Buyer at any time before the Closing Date. Buyer shall in no event be released from any of its obligations or liabilities hereunder in connection with any assignment.
Without limiting and notwithstanding the above, in no event shall Buyer have the right to assign its rights or obligations hereunder to any party which could not make the representation and warranty
contained in subsection 3.5(e) above, and in connection with any assignment pursuant to the terms hereof, the assignee shall reconfirm in a written instrument acceptable to Seller and delivered to
Seller prior to the effective date of the assignment said 

24

 

representation
and warranty as applied to the assignee and that all other terms and conditions of this Agreement shall apply to such assignee. Subject to the provisions of this Section, this Agreement
shall inure to the benefit of and be binding upon the parties hereto and their respective successors and assigns. 

 Section 9.7    Counterparts.  

        This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one and
the same instrument. 

 Section 9.8    Governing Law.  

        This Agreement shall be governed by and construed in accordance with the laws of the State of New York. 

 Section 9.9    Confidentiality and Return of Documents.  

        Buyer and Seller shall each maintain as confidential any and all material obtained about the other or, in the case of Buyer, about the Property, this Agreement or
the transactions contemplated hereby, and shall not disclose such information to any third party. Except as may be required by law, Buyer will not divulge any such information to other persons or
entities including, without limitation, appraisers, real estate brokers, or competitors of Seller. Notwithstanding the foregoing, Buyer shall have the right to disclose information with respect to the
Property to its officers, directors, employees, attorneys, accountants, environmental auditors, engineers, potential investors and lenders, and permitted assignees under this Agreement and other
consultants to the extent necessary for Buyer to evaluate its acquisition of the Property provided that all such persons are told that such information is confidential and agree (in writing for any
third party engineers, environmental auditors or other consultants) to keep such information confidential. If Buyer acquires the Property from Seller, Seller and Buyer shall have the right, subsequent
to the Closing of such acquisition, to publicize the transaction (other than the parties to or the specific economics of the transaction) in whatever manner it deems appropriate; provided that any
press release or other public disclosure regarding this Agreement or the transactions contemplated herein, and the wording of same, must be approved in advance by both parties. Nothing contained
herein shall prevent Seller or Buyer from making any disclosure(s) required by applicable law. The provisions of this paragraph shall survive the Closing or any termination of this Agreement. In the
event the transaction contemplated by this Agreement does not close as provided herein, upon the request of Seller, Buyer shall promptly return to Seller all Due Diligence Materials and other
documents and copies obtained by Buyer in connection with the purchase of the Property hereunder. 

 Section 9.10    Interpretation of Agreement.  

        The article, section and other headings of this Agreement are for convenience of reference only and shall not be construed to affect the meaning of any provision
contained herein. Where the context so requires, the use of the singular shall include the plural and vice versa and the use of the masculine shall include the feminine and the neuter. The term
"person" shall include any individual, partnership, joint venture, corporation, trust, unincorporated association, any other entity and any government
or any department or agency thereof, whether acting in an individual, fiduciary or other capacity. 

 Section 9.11    Limited Liability.  

        The obligations of each Selling Entity under this Agreement and under all of the Other Documents are intended to be binding only on the property of each Selling
Entity and shall not be personally binding upon, nor shall any resort be had to, the private properties of any Seller Related Parties or any other Selling Entity. 

25

 

 Section 9.12    Amendments.  

        This Agreement may be amended or modified only by a written instrument signed by Buyer and Seller. 

 Section 9.13    No Recording.  

        Neither this Agreement or any memorandum or short form thereof may be recorded by Buyer. 

 Section 9.14    Drafts Not an Offer to Enter into a Legally Binding Contract.  

        The parties hereto agree that the submission of a draft of this Agreement by one party to another is not intended by either party to be an offer to enter into a
legally binding contract with respect to the purchase and sale of the Property. The parties shall be legally bound with respect to the purchase and sale of the Property pursuant to the terms of this
Agreement only if and when the parties have been able to negotiate all of the terms and provisions of this Agreement in a manner acceptable to each of the parties in their respective sole discretion,
and both Seller and Buyer have fully executed and delivered to each other a counterpart of this Agreement. 

 Section 9.15    ERISA.  

        Without limiting Buyer's representation and warranty in Section 3.5(e) above, within ten (10) days after the Effective Date, Buyer shall furnish to
Seller all information regarding Buyer, its affiliates and the shareholders, members, investors or partners of each of them and any permitted assignees of Buyer hereunder (collectively, the
"Buyer Related Parties") as Seller requests in order to enable Seller to determine to Seller's sole satisfaction that Buyer's representation and
warranty contained in Section 3.5(e) of this Agreement is true and correct. Buyer represents and warrants and covenants to Seller that there will not be any change in any such information
regarding Buyer or the Buyer Related Parties prior to or on the Closing. In the event any such information or change in Seller's reasonable judgment makes this transaction a sale to a
party-in-interest, Seller may terminate this Agreement without liability on the part of Seller or Buyer (provided such change did not occur as a result of a default by Buyer),
other than Buyer's indemnity contained in Section 9.3 hereof and the obligations of Buyer contained in Sections 6.1 and 9.9 hereof, and the Deposit will be returned to Buyer. 

 Section 9.16    No Partnership.  

        The relationship of the parties hereto is solely that of Seller and Buyer with respect to the Property and no joint venture or other partnership exists between
the parties hereto. Neither party has any fiduciary relationship hereunder to the other. 

 Section 9.17    No Third Party Beneficiary.  

        The provisions of this Agreement are not intended to benefit any third parties. 

 Section 9.18    Reserved.  

 Section 9.19    Limitation on Liability.  

        Notwithstanding anything to the contrary contained herein, after the Closing: (a) the maximum aggregate liability of each Selling Entity, and the maximum
aggregate amount which may be awarded to and collected by Buyer (including, without limitation, for any breach of any representation, warranty and/or covenant by each Selling Entity) under this
Agreement or any documents executed pursuant hereto or in connection herewith, including, without limitation, the Deed, the Bill of Sale, and the Assignment of Leases (collectively, the
"Other Documents"), shall under no circumstances whatsoever exceed two percent (2%) of the Purchase Price allocated to the Buildings owned by the
applicable 

26

 

Selling
Entity; and (b) no claim by Buyer alleging a breach by a Selling Entity of any representation, warranty and/or covenant of a Selling Entity contained herein or in any of the Other
Documents may be made, and said Selling Entity shall not be liable for any judgment in any action based upon any such claim, unless and until such claim, either alone or together with any other claims
by Buyer alleging a breach by said Selling Entity of any such representation, warranty and/or covenant is for an aggregate amount in excess of Twenty-Five Thousand Dollars ($25,000) (the
"Floor Amount"), in which event said Selling Entity's liability respecting any final judgment concerning such claim or claims shall be for the entire
amount thereof, subject to the limitation set forth in clause (a) above; provided, however, that if any such final judgment is for an amount that is less than or equal to the Floor Amount, then
the Selling Entity shall have no liability with respect thereto. The prorations under Section 8.5 are not governed by this Section 9.19 and are not included in the computation of the
limitations of liability set forth in this Section 9.19. 

 Section 9.20    Survival.  

        Except as expressly set forth to the contrary herein, no representations, warranties, covenants or agreements of Seller contained herein shall survive the
Closing. 

 Section 9.21    Severability.  

        If any term or provision of this Agreement or the application thereof to any person or circumstance shall for any reason and to any extent be held to be invalid
or unenforceable, then such term or provision shall be ignored, and to the maximum extent possible, this Agreement shall continue in full force and effect, but without giving effect to such term or
provision. 

 Section 9.22    No Waiver.  

        Neither the failure of either party to exercise any power given such party hereunder or to insist upon strict compliance by the other party with its obligations
hereunder, nor any custom or practice of the parties at variance with the terms hereof shall constitute a waiver of either party's right to demand exact compliance with the terms hereof. 

 Section 9.23    Construction.  

        The parties agree that this Agreement is the result of negotiation by the parties, each of whom was represented by counsel, and thus, this Agreement shall not be
construed against the maker thereof. 

 Section 9.24    Survival of Article IX.  

        The provisions of this Article IX shall survive the Closing. 

 Section 9.25    Information and Audit Cooperation.  

        At any time before or within 75 days after the Closing, at Buyer's request, Seller shall reasonably cooperate with Buyer (at no cost or expense to Seller
or Seller's independent auditors) to enable Buyer to comply with any financial reporting requirements applicable to Buyer, including without limitation allowing Buyer's auditors access to the books
and records of Seller and the working papers of Seller's independent auditors relating to the operation of the Property. 

27

   
        The parties hereto have executed this Agreement as of the date set forth next to each party's signature below, and effective as of the Effective Date as defined in the first paragraph of
this Agreement. 

	Date of Execution: August 11, 2004	 	SELLER:

CABOT INDUSTRIAL VENTURE A, LLC,

a Delaware limited liability company
	

 	
 	

By:	

/s/  PETER F. FEINBERG      
 Peter F. Feinberg

Vice President
	

 	
 	

CABOT INDUSTRIAL VENTURE B, LLC,

a Delaware limited liability company
	

 	
 	

By:	

/s/  PETER F. FEINBERG      
 Peter F. Feinberg

Vice President
	

 	
 	

CW INDUSTRIAL VENTURE B, LLC, a Delaware

limited liability company
	

 	
 	

By:	

/s/  PETER F. FEINBERG      
 Peter F. Feinberg

Vice President

[SIGNATURES
CONTINUED ON NEXT PAGE] 

28

 

	 	 	CW INDUSTRIAL VENTURE A TEXAS, L.P.,

a Delaware limited partnership
	

 	
 	

By: CW Industrial A Texas, LLC, a Delaware

        limited liability company, its General Partner
	

 	
 	

 	

 	
 	

By:	

/s/  PETER F. FEINBERG      
 Peter F. Feinberg

Vice President
	

 	
 	

CW INDUSTRIAL VENTURE B TEXAS, L.P.,

a Delaware limited partnership
	

 	
 	

By: CW INDUSTRIAL B TEXAS, LLC,

        a Delaware limited liability company,

        its General Partner
	

 	
 	

 	

 	
 	

By:	

/s/  PETER F. FEINBERG      
 Peter F. Feinberg

Vice President

[SIGNATURES
CONTINUED ON NEXT PAGE] 

29

 

	Date of Execution: August 11, 2004	 	BUYER:
	

 	
 	

DIVIDEND CAPITAL OPERATING PARTNERSHIP LP,

a Delaware limited partnership
	

 	
 	

By:	

/s/  TERESA L. CORRAL      
 Name: Teresa L. Corral

Its: Vice President

30

 
 

LIST OF EXHIBITS AND SCHEDULES
  
  
  Exhibits    
    

	EXHIBIT A-1	 	GENERAL PROPERTY DESCRIPTION
	

EXHIBIT A	
 	

REAL PROPERTY DESCRIPTION
	

EXHIBIT B	
 	

LIST OF TENANT LEASES
	

EXHIBIT C	
 	

DEED
	

EXHIBIT D	
 	

BILL OF SALE
	

EXHIBIT E	
 	

ASSIGNMENT OF LEASES, SERVICE CONTRACTS, WARRANTIES AND OTHER INTANGIBLE PROPERTY
	

EXHIBIT F	
 	

ESTOPPEL CERTIFICATE
	

EXHIBIT G	
 	

LIST OF SERVICE CONTRACTS
	

EXHIBIT H	
 	

ESCROW AGREEMENT
	

EXHIBIT I	
 	

MASTER LEASE APPROVAL CRITERIA
	

EXHIBIT J	
 	

MASTER LEASE SCHEDULE
	
Schedules
	

SCHEDULE 1	
 	

DISCLOSURE ITEMS

  

 
 

Exhibit A-1    
    

 
  GENERAL PROPERTY DESCRIPTIONS
  
  
  ATLANTA PROPERTIES    
    

	Address
	 	County
	 	Bldgs.
	 	Area (SF)

(Approx.)
	 	Acres

(Approximate)
	 	Owner
	 	Allocation of

Purchase Price

	3435 & 3445 Breckinridge Blvd.

Duluth, GA	 	Gwinnett	 	2	 	144,404	 	12.50	 	Cabot Industrial Venture A, LLC	 	 
	

	4125 Buford Highway

Duluth, GA	 	Gwinnett	 	1	 	210,000	 	10.92	 	Cabot Industrial Venture A, LLC	 	 
	

	1700 Westgate Parkway

Atlanta, GA	 	Fulton	 	1	 	231,835	 	15.85	 	Cabot Industrial Venture A, LLC	 	 
	

	4300 Westpark Drive SW

Atlanta, GA	 	Fulton	 	1	 	216,074	 	10.09	 	Cabot Industrial Venture A, LLC	 	 
	

	5000 Westpark Drive SW

Atlanta, GA	 	Fulton	 	1	 	130,722	 	6.04	 	Cabot Industrial Venture A, LLC	 	 
	

	1075 & 1150 Cobb Int'l Place NW

Kennesaw, GA	 	Cobb	 	2	 	128,000	 	8.28	 	Cabot Industrial Venture B, LLC	 	 
	

	5925 & 5945 Cabot Parkway

Alpharetta, GA	 	Forsyth	 	2	 	211,436	 	17.95	 	Cabot Industrial Venture B, LLC	 	 
	

BOSTON PROPERTIES  

	Address
	 	County
	 	Bldgs.
	 	Area (SF)

(Approx.)
	 	Acres

(Approximate)
	 	Owner
	 	Allocation of Purchase

Price

	14 & 16 Progress Road

Billerica, MA	 	Middlesex	 	2	 	127,100	 	12.85	 	Cabot Industrial Venture A, LLC	 	 
	

	19 Technology Drive

Auburn, MA	 	Worcester	 	1	 	54,400	 	6.00	 	Cabot Industrial Venture B, LLC	 	 
	

	82 South Street

Hopkinton, MA	 	Middlesex	 	1	 	70,600	 	20.94	 	Cabot Industrial Venture B, LLC	 	 
	

	65 Sunnyslope Avenue

Tewksbury, MA	 	Middlesex	 	1	 	153,641	 	5.00	 	Cabot Industrial Venture B, LLC	 	 
	

A-1-1

 
 
 

DALLAS PROPERTIES    
    

	Address
	 	County
	 	Bldgs.
	 	Area (SF)

(Approx.)
	 	Acres

(Approximate)
	 	Owner
	 	Allocation of Purchase

Price

	Market II—2635 & 2737 Market Street

Garland, TX	 	Dallas	 	2	 	112,830	 	5.73

(Site 4—CTT)	 	CW Industrial Venture A Texas, LP	 	 
	

	Market III—2745—2875 Market Street

Garland, TX	 	Dallas	 	3	 	322,649	 	14.01

(Site 15—CTT)	 	CW Industrial Venture B Texas, LP	 	 
	

	Perimeter II—11910 Shiloh Road

Dallas, TX	 	Dallas	 	1	 	102,424	 	6.13

(Site 5—CTT)	 	CW Industrial Venture A Texas, LP	 	 
	

	Perimeter IV—12555/12623 Perimeter Dr.

Dallas, TX	 	Dallas	 	2	 	80,784	 	3.48

(Site 6—CTT)	 	CW Industrial Venture A Texas, LP	 	 
	

	11839 Shiloh Road Dallas,

Dallas, TX	 	Dallas	 	1	 	99,750	 	5.58

(Site 16—CTT)	 	CW Industrial Venture B Texas, LP	 	 
	

	601-09 Avenue R

Grand Prairie, TX	 	Tarrant	 	1	 	60,910	 	2.52

(Site 13—CTT)	 	CW Industrial Venture B Texas, LP	 	 
	

	1302 Avenue R

Grand Prairie, TX	 	Tarrant	 	1	 	36,840	 	3.61

(Site 12—CTT)	 	CW Industrial Venture B Texas, LP	 	 
	

	Westfork Center—1475-1555 Avenue S

Grand Prairie, TX	 	Tarrant	 	3	 	126,307	 	6.7

(Site 14—CTT)	 	CW Industrial Venture B Texas, LP	 	 
	

A-1-2

 
 
 

HOUSTON PROPERTIES    
    

	Address
	 	County
	 	Bldgs.
	 	Area (SF)

(Approx.)
	 	Acres

(Approximate)
	 	Owner
	 	Allocation of Purchase

Price

	Corporate IV—12603 & 12613 Executive Dr.

Stafford, TX	 	Fort Bend	 	2	 	79,252	 	4.09

(Site 8—CTT)	 	CW Industrial Venture A Texas, LP	 	 
	

	4000 Greenbriar

Stafford, TX	 	Fort Bend	 	1	 	229,200	 	16.00

(Site 9—CTT)	 	CW Industrial Venture A Texas, LP	 	 
	

	7215 Wynnewood

Houston, TX	 	Harris	 	1	 	77,328	 	2.38

(Site 7/Tract 1—CTT)	 	CW Industrial Venture A Texas, LP	 	 
	

	7240-60 Wynnewood

Houston, TX	 	Harris	 	1	 	30,078	 	2.07

(Site 7/Tract 2—CTT)	 	CW Industrial Venture A Texas, LP	 	 
	

	Silber II—1246-70 Silber Road

Houston, TX	 	Harris	 	1	 	170,880	 	8.56

(Site 17—CTT)	 	CW Industrial Venture B Texas, LP	 	 
	

	12505 Reed Road & 505-25 Julie Rivers Drive

Sugarland, TX	 	Harris	 	3	 	219,703	 	11.20

(Site 18—CTT)	 	CW Industrial Venture B Texas, LP	 	 
	

A-1-3

 
 
 

PHOENIX PROPERTIES    
    

	Address
	 	County
	 	Bldgs.
	 	Area (SF)

(Approx.)
	 	Acres

(Approximate)
	 	Owner
	 	Allocation of Purchase

Price

	101 North 104th Avenue

Tolleson, AZ	 	Maricopa	 	1	 	279,279	 	15.22	 	Cabot Industrial Venture A, LLC	 	 
	

	101 North 103rd Avenue

Tolleson, AZ	 	Maricopa	 	1	 	279,186	 	15.22	 	Cabot Industrial Venture B, LLC	 	 
	

	602 South 63rd Avenue

Phoenix, AZ	 	Maricopa	 	1	 	168,165	 	8.23	 	Cabot Industrial Venture B, LLC	 	 
	

	1402 South 40th Avenue

Phoenix, AZ	 	Maricopa	 	1	 	201,600	 	11.93	 	Cabot Industrial Venture B, LLC	 	 
	

	1640 South 39th Avenue

Phoenix, AZ	 	Maricopa	 	1	 	159,450	 	7.25	 	Cabot Industrial Venture A, LLC	 	 
	

	3930 East Watkins

Phoenix, AZ	 	Maricopa	 	1	 	101,932	 	8.50	 	Cabot Industrial Venture A, LLC	 	 
	

	849 West 24th Street

Tempe, AZ	 	Maricopa	 	1	 	36,000	 	3.30	 	Cabot Industrial Venture B, LLC	 	 
	

	645 West 24th Street

Tempe, AZ	 	Maricopa	 	1	 	22,400	 	2.60	 	Cabot Industrial Venture B, LLC	 	 
	

	1219 West Geneva

Tempe, AZ	 	Maricopa	 	1	 	12,246	 	0.86	 	Cabot Industrial Venture B, LLC	 	 
	

	1233 West Geneva

Tempe, AZ	 	Maricopa	 	1	 	12,056	 	0.86	 	Cabot Industrial Venture B, LLC	 	 
	

	1245 West Geneva

Tempe, AZ	 	Maricopa	 	1	 	13,972	 	1.03	 	Cabot Industrial Venture B, LLC	 	 
	

	1102 West Southern

Tempe, AZ	 	Maricopa	 	1	 	43,449	 	3.69	 	Cabot Industrial Venture B, LLC	 	 
	

A-1-4

 
 
 

SAN FRANCISCO PROPERTIES    
    

	Address
	 	County
	 	Bldgs.
	 	Area (SF)

(Approx.)
	 	Acres

(Approximate)
	 	Owner
	 	Allocation of Purchase

Price

	Huntwood—30955 Huntwood Avenue

Hayward, CA	 	Alameda	 	1	 	62,031	 	4.83	 	Cabot Industrial Venture A, LLC	 	 
	

	Eden Rock 5—3191 Corporate Avenue

Hayward, CA	 	Alameda	 	1	 	35,880	 	2.41	 	CW Industrial Venture B, LLC	 	 
	

	Eden Rock 9—3157-67 Corporate Place

Hayward, CA	 	Alameda	 	1	 	35,960	 	2.55	 	CW Industrial Venture B, LLC	 	 
	

	38503, 38505 & 38507 Cherry Street,

Newark, CA	 	Alameda	 	3	 	608,841	 	28.90	 	Cabot Industrial Venture B, LLC	 	 
	

A-1-5

  

 
 

EXHIBIT A
  
  
  Real Property Description

Group I  

Site
No. 1

NBU 20401512

3930 East Watkins Street 

PARCEL
NO.1: 

Lot
2, ALLRED TWO AT EASTBANK, a subdivision recorded in Book 469 of Maps, Page 36, and Certificate of Correction recorded December 23, 1999 in Recording No. 99-1146736,
records of Maricopa County, Arizona; 

EXCEPT
one-half of all oil and gas rights as reserved in Docket 86, page 263. 

PARCEL
NO.2: 

The
exclusive rights of Lot 8, 40TH STREET PROPERTIES, a subdivision recorded in Book 397 of Maps, Page 29, records of Maricopa County, Arizona to use Tract A, 40TH STREET PROPERTIES, a subdivision
recorded in Book 397 of Maps, Page 29, for parking and landscaping as set forth in Declaration of Protective Covenants, Conditions and Restrictions recorded in Recording
No. 94-680385 and Amendment recorded in Recording No. 96-733661, records of Maricopa County, Arizona. 

A-1-1

 

Group
I

Site No. 2

NBU 20401513

101 North 104th Avenue 

PARCEL
NO. 1: 

That
portion of the North half of Section 8, Township 1 North, Range 1 East of the Gila and Salt River Base and Meridian, Maricopa County, being more particularly described as follows: 

COMMENCING
at the North quarter corner of said Section 8; 

thence
South 00 degrees 07 minutes 32 seconds West along the East line of the Northwest quarter of Section 8, a distance of 608.51 feet; 

thence
South 89 degrees 54 minutes 03 seconds East a distance of 312.43 feet to the POINT OF BEGINNING; 

thence
South 00 degrees 05 minutes 57 seconds West a distance of 579.78 feet; 

thence
North 89 degrees 54 minutes 03 seconds West a distance of 1146.41 feet to a point on the Easterly right of way line of 104th Avenue as described in Recording No. 95-0137194,
of Official Records; 

thence
North 00 degrees 05 minutes 57 seconds East along said Easterly right of way line as described in Recording No. 95-0137194, of Official Records, a distance of
579.78 feet; 

thence
South 89 degrees 54 minutes 03 seconds East a distance of 1146.41 feet to the POINT OF BEGINNING; 

EXCEPT
that portion of the North half of Section 8, Township 1 North, Range 1 East of the Gila and Salt River Base and Meridian, Maricopa County, Arizona, being more particularly described as
follows: 

COMMENCING
at the North quarter corner of said Section 8; 

thence
North 89 degrees 18 minutes 57 seconds East along the North line of the Northeast quarter of said Section 8, a distance of 312.18 feet; 

thence
South 00 degrees 05 minutes 57 seconds West, a distance of 612.78 feet to the POINT OF BEGINNING; 

thence
South 00 degrees 05 minutes 57 seconds West, a distance of 39.21 feet to a point on a non-tangent curve; 

thence
Westerly and Northwesterly along a curve concave to the Northeast having a radius of 60.00 feet, an arc length of 73.02 feet and a central angle of 69 degrees 43 minutes 53 seconds to a point
of non-tangency; 

thence
South 89 degrees 54 minutes 03 seconds East, a distance of 56.28 feet to the POINT OF BEGINNING. 

PARCEL
NO. 2: 

An
easement for access recorded in Recording No. 95-0216201, of Official Records over that portion of the Northwest quarter of Section 8, Township 1 North, Range 1 East of
the Gila and Salt River Base and Meridian, Maricopa County, Arizona, being more particularly described as follows: 

COMMENCING
at the West quarter corner of said Section 8; 

thence
North 89 degrees 27 minutes 09 seconds East, a distance of 2641.25 feet to the center of said Section 8; 

A-1-2

 

thence
North 33 degrees 28 minutes 24 seconds West, a distance of 14.56 feet to a point; 

thence
North 00 degrees 05 minutes 57 seconds East, a distance of 168.45 feet to a point; 

thence
North 89 degrees 54 minutes 03 seconds West, a distance of 825.00 feet to the POINT OF BEGINNING; 

thence
North 89 degrees 54 minutes 03 seconds West, a distance of 66. 00 feet to a point; 

thence
North 00 degrees 05 minutes 57 seconds East, a distance of 2411.66 feet to the South right of way line of Van Buren Street; 

thence
North 89 degrees 19 minutes 37 seconds East along said line a distance of 66.00 feet to a point; 

thence
South 00 degrees 05 minutes 57 seconds West, a distance of 2412.55 feet to the POINT OF BEGINNING; 

EXCEPT
the following described property conveyed to the City of Tolleson in instrument recorded in Recording No. 98-353642 of Official Records; 

COMMENCING
at the West quarter corner of said Section 8; 

thence
along the East-West mid-section line of said Section 8, North 89 degrees 26 minutes 39 seconds East, a distance of 2641.15 feet to the center of said
Section 8; 

thence
leaving said East-West mid-section line, North 33 degrees 28 minutes 32 seconds West, a distance of 14.16 feet; 

thence
North 00 degrees 05 minutes 49 seconds East, a distance of 168.45 feet, to the Southeast corner of the Snapple Property as described in Recording No. 94-0331959 of Official
Records; 

thence
along the South line of said Snapple Property, North 89 degrees 54 minutes 11 seconds West, a distance of 825.00 feet, to the Southwest corner of said Snapple Property and to the Southeast
corner of an access roadway easement as described in Recording No. 94 - 0331959 of Official Records; 

thence
leaving the South line of said Snapple Property, along the South line of said access roadway easement North 89 degrees 54 minutes 11 seconds West, a distance of 33.00 feet to the POINT OF
BEGINNING; 

thence
continuing along said South line, North 89 degrees 54 minutes 11 seconds West, a distance of 33.00 feet to the Southwest corner of said access roadway easement; 

thence
leaving said South line, along the West line of said access roadway easement, North 00 degrees 05 minutes 49 seconds East, a distance of 1056.02 feet; 

thence
leaving said West line, South 89 degrees 54 minutes 11 seconds East, a distance of 33.00 feet; 

thence
along a line 33 feet East of and parallel with said West line, South 00 degrees of 05 minutes 49 seconds West, a distance of 1056.02 feet to the POINT OF BEGINNING. 

A-1-3

   
Group I

Site No. 3

NBU 020401514

1640 South 39th Avenue 

That
certain tract or parcel of land situated, lying and being in the City of Phoenix, Maricopa County, Arizona, being more particularly described as follows: 

Lot
11, 43RD AVENUE DISTRIBUTION CENTER UNIT 2, a subdivision recorded in Book 319 of Maps, Page 7, records of Maricopa County, Arizona; 

EXCEPT
the entire mineral estate in the property described lying not less than 500 feet beneath the natural surface. For purposes of this reservation the mineral estate shall include all substances
which have been discovered or which may in the future be discovered upon or under the property described, which are now or may in the future be valuable, and which are now or may in the future be
enjoyed through extraction from the property described. Without limiting the generality of the foregoing, the mineral estate shall include all forms of geothermal energy, all coal, all gases, all
hydrocarbon substances, all fissionable materials, all metallic minerals and all non-metallic minerals. 

A-1-4

 

Group
I

Site No. 4

NBU 020401515

101 North 103rd Avenue 

That
certain tract or parcel of land situated, lying and being in the City of Tolleson, Maricopa County, Arizona, being more particularly described as follows: 

That
portion of the North half of Section 8, Township 1 North, Range 1 East of the Gila and Salt River Base and Meridian, Maricopa County, Arizona, described as follows: 

COMMENCING
at the North quarter corner of said Section 8; 

thence
South 00 degrees 07 minutes 32 seconds West along the East line of the Northwest quarter of said Section 8, a distance of 608.51 feet; 

thence
South 89 degrees 54 minutes 03 seconds East, a distance of 312.43 feet to the POINT OF BEGINNING; 

thence
continuing South 89 degrees 54 minutes 03 seconds East, a distance of 1,146.41 feet; 

thence
South 00 degrees 05 minutes 57 seconds West, a distance of 579.78 feet; 

thence
North 89 degrees 54 minutes 03 seconds West, a distance of 1,146.41 feet to the Southeast corner of that certain Parcel conveyed to the SOUTHWEST MACK CORPORATION, an Arizona corporation, in
Deed recorded in Recording No. 95-0216200; 

thence
North 00 degrees 05 minutes 57 seconds East, along the East line of said Parcel, a distance of 579.78 feet to the POINT OF BEGINNING; 

EXCEPT
any portion of said land as conveyed to the City of Tolleson, a municipal corporation by Quit Claim Deed recorded January 14, 1999 as Recording No. 99-0035860. 

A-1-5

 

Group
I

Site No. 5

NBU 020401516

602 South 63rd Avenue 

That
certain tract or parcel of land situated, lying and being in the City of Phoenix, Maricopa County, Arizona, being more particularly described as follows: 

Lots
6, 7 and 8, ESTRELLA BUSINESS PARK, a subdivision recorded in Book 314 of Maps, Page 2, records of Maricopa County, Arizona 

A-1-6

   
Group I

Site No. 6

NBU 020401517

1402 S. 40th Avenue 

PARCEL
NO. 1: 

That
portion of Lot 1, 43rd AVENUE DISTRIBUTION CENTER UNIT 1, a subdivision recorded in Book 312 of Maps, Page 48, records of Maricopa County, Arizona, described as follows: 

BEGINNING
at the Southeast corner of said Lot 1; 

thence
North 89 degrees 59 minutes 59 seconds West 443.48 feet to the Southwest corner of said Lot 1; 

thence
North 00 degrees 10 minutes 59 seconds West along the West line of said Lot 1, 107.80 feet; 

thence
South 89 degrees 59 minutes 59 seconds East 471.74 feet to the beginning of a non-tangent curve, concave Southeasterly and the Easterly line of said Lot 1, the center of said curve
bears South 61 degrees 59 minutes 26 seconds East 238.65 feet; 

thence
Southwesterly through a central angle of 26 degrees 59 minutes 03 seconds 112.40 feet along with the arc of said curve and along the Easterly line of said Lot 1, to the POINT OF BEGINNING; 

EXCEPT
the entire mineral estate lying not less than 500 feet beneath the natural surface as reserved in Recording No. 86-407381, of
Official Records. 

PARCEL
NO. 2: 

That
portion of Lot 10, 43rd AVENUE DISTRIBUTION CENTER UNIT 2, a subdivision recorded in Book 319 of Maps, Page 7, records of Maricopa County, Arizona
described as follows: 

BEGINNING
at the Northeast corner of said Lot 10; 

thence
South 00 degrees 00 minutes 01 seconds West 150.54 feet along the East line of said Lot 10; 

thence
North 89 degrees 59 minutes 59 seconds West 56.50 feet to the beginning of a tangent curve concave Northeasterly having a radius of 373.00 feet; 

thence
Northwesterly 261.61 feet along the arc of said curve through a central angle of 40 degrees 11 minutes 09 seconds to the South line of the North 62.50 feet of said Lot 10; 

thence
North 89 degrees 59 minutes 59 seconds West along said South line 142.98 feet to the West line of said Lot 10; 

thence
North 00 degrees 10 minutes 59 seconds West along said West line 62.50 feet to the Northwest corner of said Lot 10; 

thence
South 89 degrees 59 minutes 59 seconds East 440.37 feet to the Northeast corner of said Lot 10 and the POINT OF BEGINNING; 

EXCEPT
the entire mineral estate lying not less than 500 feet beneath the natural surface as reserved in instrument recorded in Recording No. 86-407381, of Official Records. 

PARCEL
NO. 3: 

Lot
6, 43RD AVENUE DISTRIBUTION CENTER 1, a subdivision recorded in Book 312 of Maps, Page 48, records of Maricopa County, Arizona; 

EXCEPT
the entire mineral estate lying not less than 500 feet beneath the natural surface as reserved in Recording No. 86-407381, of Official Records. 

A-1-7

 

Group
I

Site No. 7

NBU 020401518

1102 West Southern Avenue 

That
certain tract or parcel of land situated, lying and being in the City of Tempe, Maricopa, County, Arizona, being more particularly described as follows: 

Lot
36 and the East 166.20 feet of Lot 35, BROADWAY INDUSTRIAL PARK UNIT 4, according to the plat of record in the Office of the County Recorder of Maricopa County, Arizona, recorded in Book 210 of
Maps, Page 48. 

A-1-8

 

Group
I

Site No. 8

NBU 020401519

1219 West Geneva Drive 

That
certain tract or parcel of land situated, lying and being in the City of Tempe, Maricopa County, Arizona, being more particularly described as follows: 

Lot
20, BROADWAY INDUSTRIAL PARK UNIT 4, a subdivision recorded in Book 210 of Maps, Page 48, records of Maricopa County, Arizona. 

A-1-9

 

Group
I

Site No. 9

NBU 020401520

1233 West Geneva Drive 

That
certain tract or parcel of land situated, lying and being in the City of Tempe, Maricopa County, Arizona, being more particularly described as follows: 

Lot
21, BROADWAY INDUSTRIAL PARK UNIT 4, according to the plat of record in the Office of the County Recorder of Maricopa County, Arizona, recorded in Book 210 of Maps, Page 48. 

A-1-10

 

Group
I

Site No. 10

NBU 020401521

1245 West Geneva Drive 

That
certain tract or parcel of land situated, lying and being in the City of Tempe, Maricopa County, Arizona, being more particularly described as follows: 

Lot
22, BROADWAY INDUSTRIAL PARK UNIT 4, according to the plat of record in the Office of the County Recorder of Maricopa County, Arizona, recorded in Book 210 of Maps, Page 48. 

A-1-11

 

Group
I

Site No. 11

NBU 020401522

645 West 24th Street 

That
certain tract or parcel of land situated, lying and being in the City of Tempe, Maricopa County, Arizona, being more particularly described as follows: 

PARCEL
NO. 1: 

Lot
3, BROADWAY INDUSTRIAL PARK UNIT 5, according to the plat of record in the Office of the County Recorder of Maricopa County, Arizona, recorded in Book 208 of Maps Page 2 and Certificate of
Correction recorded in Docket 13497, Page 705. 

PARCEL
NO. 2: 

The
East 94 feet of Lot 4, BROADWAY INDUSTRIAL PARK UNIT 5, according to the plat of record in the Office of the County Recorder of Maricopa County, Arizona, recorded in Book 208 of Maps, Page 2 and
Certificate of Correction recorded in Docket 13497 Page 705. 

PARCEL
NO. 3: 

Lot
2, BROADWAY INDUSTRIAL PARK UNIT 5, according to the plat of record in the Office of the County Recorder of Maricopa County, Arizona, recorded in Book 208 of Maps, Page 2 and Certificate of
Correction recorded in Docket 13497, Page 705. 

EXCEPT
the East 130 feet. 

A-1-12

 

Group
I

Site No. 12

NBU 020401523

849 West 24th Street 

That
certain tract or parcel of land situated, lying and being in the City of Tempe, Maricopa County, Arizona, being more particularly described as follows: 

The
West 46 feet of Lot 4, all of Lots 5 and 6 and the North 15 feet of Lot 7 of BROADWAY INDUSTRIAL PARK UNIT 5, according to the plat of record in the office of the County Recorder of Maricopa
County, Arizona, recorded in Book 208 of Maps, Page 2 and Certificate of Correction in Docket 13497, Page 705. 

EXCEPT
the East 88 feet of said Lot 7. 

A-1-13

 

Group
I

Site No. 13

NBU 20401525

30955 Huntwood Avenue 

REAL
PROPERTY IN THE CITY OF HAYWARD, COUNTY OF ALAMEDA, STATE OF CALIFORNIA, DESCRIBED AS FOLLOWS: 

PARCEL
2, PARCEL MAP 3780, FILED MAY 10, 1982, MAP BOOK 133, PAGE 63, ALAMEDA COUNTY RECORDS, AND MORE PARTICULARLY DESCRIBED AS FOLLOWS: 

BEGINNING
AT THE NORTHEAST CORNER OF SAID PARCEL 2; THENCE FROM SAID POINT OF BEGINNING, NORTH 88° 57' 23" WEST, 322.00 FEET; THENCE SOUTH 01° 02' 37"
WEST, 653.00 FEET; THENCE SOUTH 88° 57' 23" EAST, 322.00 FEET; AND THENCE NORTH 01° 02' 37" EAST, 653.00 FEET TO THE POINT OF BEGINNING. 

	ASSESSOR'S PARCEL NOS.	 	475-0020-090

475-0020-093	 	 

A-1-14

 

Group
I

Site No. 14

NBU 020401526

3191 Corporate Place 

THE
LAND REFERRED TO HEREIN IS SITUATE IN THE CITY OF HAYWARD, COUNTY OF ALAMEDA, STATE OF CALIFORNIA, AND MORE PARTICULARLY DESCRIBED AS FOLLOWS: 

PARCEL
I, PARCEL MAP 939, FILED JULY 13, 1972, BOOK 76 OF PARCEL MAPS, PAGE 10, ALAMEDA COUNTY RECORDS. 

EXCEPTING
THEREFROM, THAT PORTION DESCRIBED IN THE DEED TO EDEN ROCK CO. NO.3, A JOINT VENTURE, RECORDED JULY 31, 1978, REEL 5508, IMAGE 378, SERIES NO. 78-145175, OFFICIAL RECORDS. 

ASSESSOR'S
PARCEL NO. 461-0015-020-02 

A-1-15

 

Group
I

Site No. 15

NBU 020401527

3167 Corporate Place 

THE
LAND REFERRED TO HEREIN IS SITUATE IN THE CITY OF HAYWARD, COUNTY OF ALAMEDA, STATE OF CALIFORNIA, AND MORE PARTICULARLY DESCRIBED AS FOLLOWS: 

PARCEL
2, PARCEL MAP NO. 939, FILED JULY 13, 1972, IN BOOK 76 OF PARCEL MAPS, PAGE 10, ALAMEDA COUNTY RECORDS. 

TOGETHER
WITH: 

ALL
THAT CERTAIN REAL PROPERTY BEING A PORTION OF PARCEL 1 AS SHOWN ON "PARCEL MAP NO. 939", WHICH MAP IS FILED IN BOOK 76 OF PARCEL MAPS, AT PAGE 10, ALAMEDA COUNTY RECORDS, SAID REAL PROPERTY BEING
MORE PARTICULARLY DESCRIBED AS FOLLOWS: 

BEGINNING
AT THE CORNER COMMON TO PARCELS 1 AND 2 ON THE NORTHWESTERLY LINE OF CORPORATE PLACE, AS SHOWN ON THE ABOVE MENTIONED PARCEL MAP; THENCE FROM SAID POINT OF BEGINNING ALONG SAID NORTHERLY
LINE, SOUTH 76° 38' 05" WEST, 8.22 FEET; THENCE LEAVING THE LAST SAID LINE AND RUNNING ALONG A LINE PARALLEL TO AND 7.806 FEET SOUTHWESTERLY, AT RIGHT ANGLES, FROM THE DIVIDING
LINE BETWEEN SAID PARCELS 1 AND 2, NORTH 31° 37' 51" WEST, 205.78 FEET;
THENCE LEAVING SAID PARALLEL LINE, NORTH 58° 22' 09" EAST, 7.806 FEET TO SAID DIVIDING LINE; THENCE ALONG THE LAST SAID LINE, SOUTH 31° 37' 51" EAST,
208.356 FEET TO THE POINT OF BEGINNING. 

SAID
REAL PROPERTY IS THE SAME AS "LOT LINE ADJUSTMENT NO. 77-4" APPROVED BY THE CITY OF HAYWARD PLANNING COMMISSION ON SEPTEMBER 22, 1977. 

ASSESSOR'S
PARCEL NO. 461-0015-021-01 

A-1-16

   
Group I

Site No. 16

NBU 020401528

38503, 38505 & 38507 Cherry Street 

REAL
PROPERTY IN THE CITY OF NEWARK, COUNTY OF ALAMEDA, STATE OF CALIFORNIA, DESCRIBED AS FOLLOWS: 

PARCEL
ONE: 

A
PORTION OF LOTS 120, 121, 122, l05, 106, 107 AND A PORTION OF MOORES AVENUE, AS SAID LOTS AND AVENUE ARE SHOWN ON THE MAP SHOWING THE TOWN OF NEWARK AND THE VILLA-LOTS AND FARMS IN ITS
VICINITY, FILED APRIL 27, 1880, IN BOOK 17 OF MAPS, PAGE 42, IN THE OFFICE OF THE COUNTY RECORDER OF ALAMEDA COUNTY, DESCRIBED AS FOLLOWS: 

BEGINNING
AT A POINT ON THE SOUTHWESTERN LINE OF CHERRY STREET, ALSO KNOWN AS CHERRY ROAD, AS SAID STREET EXISTED BEFORE BEING WIDENED FROM A WIDTH OF 60 FEET, AT THE MOST NORTHERN CORNER OF THE 33.51
ACRE PARCEL OF LAND DESCRIBED IN THE DEED DATED JUNE 23, 1959, FROM SOUTHERN PACIFIC COMPANY TO PETERBILT MOTORS COMPANY, RECORDED JULY 10, 1959, IN BOOK 9084, PAGE 539, INSTRUMENT NO. AQ/81456,
OFFICIAL RECORDS OF SAID COUNTY; THENCE ALONG SAID SOUTHWESTERN LINE OF CHERRY STREET NORTH 56° 38' 32" WEST 700.00 FEET TO A LINE DRAWN PARALLEL WITH SAID NORTHWESTERLY 700
FEET RIGHT ANGLE MEASUREMENT, FROM THE NORTHWESTERN LINE OF SAID 33.51 ACRE PARCEL OF LAND; THENCE ALONG SAID PARCEL LINE SO DRAWN AND ITS PROLONGATION SOUTHWESTERLY SOUTH 33° 21'
28° WEST 1815.18 FEET TO THE PROLONGATION NORTHWESTERLY OF THE SOUTHWESTERN LINE OF SAID 33.51 ACRE PARCEL OF LAND; THENCE ALONG THE LAST SAID PROLONGATION, SOUTH 59° 25'
52" EAST 700.83 FEET TO THE NORTHWESTERN LINE OF SAID 33.51 ACRE PARCEL OF LAND; THENCE ALONG THE LAST MENTIONED LINE NORTH 33° 21' 28" EAST 1781.08 FEET TO THE
POINT OF BEGINNING. 

EXCEPTING
AND RESERVING, TO SOUTHERN PACIFIC COMPANY, A CORPORATION, ITS SUCCESSORS AND ASSIGNS, FOREVER THE TITLE AND EXCLUSIVE RIGHT TO ALL OF THE MINERALS AND MINERAL ORES OF EVERY KIND AND
CHARACTER NOW KNOWN TO EXIST OR HEREAFTER DISCOVERED UPON, WITHIN OR UNDERLYING SAID LAND OR THAT MAY BE PRODUCED THEREFROM, INCLUDING WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, ALL PETROLEUM,
OIL, NATURAL GAS AND OTHER HYDROCARBON SUBSTANCES AND PRODUCTS DERIVED THEREFROM TOGETHER WITH THE EXCLUSIVE AND PERPETUAL RIGHT OF SAID SOUTHERN PACIFIC COMPANY, ITS SUCCESSORS AND ASSIGNS, OF
INGRESS AND EGRESS BENEATH THE SURFACE OF SAID LAND TO EXPLORE FOR, EXTRACT, MINE AND REMOVE THE SAME, AND TO MAKE SURE USE OF THE SAID LAND BENEATH THE SURFACE AS IS NECESSARY OR USEFUL IN CONNECTION
THEREWITH, WHICH USE MAY INCLUDE LATERAL OR SLANT DRILLING, BORING, DIGGING OR SINKING WELLS, SHAFTS OR TUNNELS; PROVIDED, HOWEVER, THAT SAID GRANTOR, ITS SUCCESSORS AND ASSIGNS, SHALL NOT USE THE
SURFACE OF SAID LAND IN THE EXERCISE OF ANY OF SAID RIGHTS, AND SHALL NOT DISTURB THE SURFACE OF SAID LAND OR ANY IMPROVEMENTS THEREON RESERVED IN DEED RECORDED APRIL 12, 1962, ON REEL 558, IMAGE 384,
INSTRUMENT NO. AT/48454, ALAMEDA COUNTY RECORDS. 

A-1-17

 

PARCEL
TWO: 

A
NON-EXCLUSIVE EASEMENT FOR DRAINAGE AS CREATED IN THE DOCUMENT RECORDED JULY 14, 1987, SERIES NO. 87-196954, OFFICIAL RECORDS, OVER AND ACROSS THE FOLLOWING DESCRIBED REAL
PROPERTY: 

A
PORTION OF THE LANDS OF PACCAR INC. (SUCCESSOR TO PETERBILT MOTORS COMPANY) DESCRIBED IN THE GRANT DEED DATED JUNE 23, 1959 AND RECORDED JULY 10, 1959, SERIES NO. AQ-81456,
ALAMEDA COUNTY OFFICIAL RECORDS, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: 

BEGINNING
AT THE MOST WESTERLY CORNER OF THE SAID ABOVE DESCRIBED LANDS, ALONG THE NORTHWESTERLY BOUNDARY LINE THEREOF, NORTH 33° 14' 20" EAST, 25.03 FEET; THENCE LEAVING LAST
SAID LINE, PARALLEL WITH THE SOUTHWESTERLY LINES OF SAID LANDS, SOUTH 59° 33' 00" EAST, 500.79 FEET TO THE BEGINNING OF A TANGENT CURVE TO THE RIGHT; THENCE ALONG THE ARC OF
SAID CURVE HAVING A RADIUS OF 588.14 FEET, THROUGH A CENTRAL ANGLE OF 09° 21' 59", FOR AN ARC DISTANCE OF 96.15 FEET; THENCE SOUTH 50° 11' 00" EAST,
188.06 FEET; THENCE LEAVING SAID PARALLELISM, SOUTH 80° 06' 23" EAST 54.38 FEET; THENCE SOUTH 40° 03' 42" EAST, 154.36 FEET; THENCE SOUTH
50° 11' 00" EAST, 196.21 FEET;
THENCE SOUTH 30° 27' 00" WEST, 21.21 FEET TO A POINT ON THE SOUTHWESTERLY BOUNDARY LINE OF SAID ABOVE DESCRIBED LANDS; THENCE ALONG SAID BOUNDARY LINE NORTH 59° 33'
00" WEST, 25.00 FEET TO AN ANGLE POINT; THENCE NORTH 50° 11' 00" WEST, 562.15 FEET TO THE BEGINNING OF A TANGENT CURVE TO THE LEFT; THENCE ALONG THE ARC OF SAID
CURVE HAVING A RADIUS OF 563.14 FEET; THROUGH A CENTRAL ANGLE OF 09° 21' 59" FOR AN ARC DISTANCE OF 92.06 FEET; THENCE NORTH 59° 33' 00" WEST, 502.01
FEET TO THE BEGINNING OF THIS DESCRIPTION, RECORDED JULY 14, 1987, SERIES NO. 87-196954. 

	ASSESSOR'S PARCEL NOS.	 	092A-2300-008 (AFFECTS A PORTION)

092A-2300-009 (AFFECTS A PORTION)	 	 

A-1-18

 

Group
I

Site No. 17

NBU 020401529

4125 Buford Highway 

All
that tract or parcel of land lying and being in Land Lot 267 of the 6th Land District, Gwinnett County, Georgia, being Lot 2, Block "A", Jack Garner Estate, containing 10.9227 acres and being more
particularly described as follows: 

Beginning
at a 1" pipe located at the intersection of the land lot line common to Land Lots 267 and 268, said district and county, and the southeasterly right of way of southern railroad
(200' right of way), said iron pin being located 100 feet from the centerline of the main track; thence running along the southeasterly right of way of Southern Railroad, along a line parallel to and
100 feet from the centerline of the main track, North 49 degrees 54 minutes 30 seconds East a distance of 1417.40
feet to a 1/2" rebar set on said right of way; thence leaving said right of way and running South 33 degrees 35 minutes 32 seconds East a distance of 371.19 feet to an iron
pin set on the Northwesterly right of way of State Route No. 13 and U.S. Highway No. 23 (right of way varies, also known as Buford Highway); thence running along the Northwesterly right
of way said State Route No. 13 the following courses and distances: South 49 degrees 06 minutes 00 seconds West, 194.65 feet to an iron pin set; North 40 degrees 54 minutes 00 seconds West,
35.00 feet to an iron pin set; South 49 degrees 06 minutes 00 seconds West, 40.00 feet to an iron pin set; South 40 degrees 54 minutes 00 seconds East, 10.00 feet to an iron pin set; South 39 degrees
38 minutes 16 seconds West, 152.07 feet to an iron pin set; South 49 degrees 06 minutes 00 seconds West, 350.00 feet to a nail set; South 68 degrees 23 minutes 24 seconds West, 105.95 feet to an iron
pin set; South 49 degrees 06 minutes 00 seconds West, 175.00 feet to an iron pin set; North 40 degrees 54 minutes 00 seconds West, 20.00 feet to a nail set; South 49 degrees 06 minutes 00 seconds
West, 60.00 feet to an iron pin set; South 40 degrees 54 minutes 00 seconds East, 20.00 feet to an iron pin set; South 39 degrees 25 minutes 15 seconds West, 205.15 feet to an iron pin set; thence
leaving said right of way and running North 32 degrees 51 minutes 57 seconds West a distance of 317.29 feet to a 1/2" rebar found in an old roadbed (formerly old Peachtree
Road); thence running along the old roadbed South 32 degrees 20 minutes 03 seconds West a distance of 173.20 feet to a 1/2" rebar found on the land lot line common to Land
Lots 267 and 268; thence running along said land lot line North 30 degrees 11 minutes 57 seconds West a distance of 125.63 feet to a 1" pipe on the Southeasterly right of way of Southern
Railroad, said 1" pipe being the POINT OF BEGINNING. 

Being
the same property as conveyed by that certain Limited Warranty Deed from Duke-Weeks Realty Limited Partnership to Cabot Industrial Properties, L.P., a Delaware limited partnership,
dated February 16, 2000, filed for record February 22, 2000 and recorded in Deed Book 20060, Page 47, Gwinnett County, Georgia records. 

A-1-19

 

Group
I

Site No. 18

NBU 020401530

4300 Westpark Drive 

All
that tract or parcel lying and being in Land Lot 89 of the 14th District formerly Fayette County, now Fulton County, and being more particularly described as follows: 

        To
find the "TRUE POINT OF BEGINNING", start at the northeast intersection if extended of Westpark Drive (60' right-of-way) with South Westpark Drive (60'
right-of-way); thence in a southeast direction along said right-of-way a distance of 1155.56 to the "TRUE POINT OF
BEGINNING"; thence N 6°21'45" E a distance of 450.25 feet to iron pin found; thence N 88°50'30" E a distance of 933.47 feet to a point; thence
northeasterly 260.87 feet along a curve to the left, said curve being subtended by a chord bearing of N 70°37'00" E a chord distance of 256.50 feet, and having a radius of
410.07 feet to a point, said point being on the right-of-way of Westpark Drive (60' right-of-way); thence along said
right-of-way S 1°09'00"E a distance of 256.81 feet; thence southwesterly along said right-of-way 267.01 feet along a curve to
the right, said curve being subtended by a chord bearing of S 43°50'45" W, a chord distance of 240.40 feet, and having a radius 170.00 feet; thence along said
right-of-way S 88°50'30" W a distance of 619.68 feet to a point; thence westerly along said right-of-way 88.45 feet along a
curve to the left, said curve being subtended by a chord bearing of S 80°07'00" W, a chord distance of 88.11 feet, having a radius of 290.44 feet; thence along said
right-of-way S 71°23'30" W, a distance of 227.69 feet; thence westerly along said right-of-way 120.12 feet along a curve to the
right, said curve being subtended by a chord bearing of S 80°06'15" W a chord distance of 119.65 feet, having a radius of 395.00 feet; thence S
88°49'00" W a distance of 23.75 feet to the "TRUE POINT OF BEGINNING". 

Said
tract or parcel contains 10.087 acres and is shown on an "as-built" survey by Urban Engineers, Inc., dated December 17, 1980, last revised July 17, 1981, as
verified by Urban Engineers, Inc. 

        TOGETHER
WITH the rights, easements, privileges and obligations appurtenant to the above-described land created and established under that certain Agreement and Declaration of Easements
for Storm Drainage, Sewer, and Rail Lines by and between M.D. Hodges Enterprises, Inc. and Claude N. Rosenberg, Jr., Paul Sack, Alander F. Hogland, Johnson S. Bogart, Richard J. Bertero, Donald
A. King, Jr., Orra C. Hyde, III, Wayne R. Harkins and Dean M. Greenwood and their successors in trust, as Trustees of the RREEF MidAmerica Fund-II, a California Group Trust under Agreement
of Trust dated as of April 1, 1980, dated July 8, 1981, and recorded in Deed Book 7892, page 384, Records of Fulton County, Georgia. 

This
being the same property as conveyed in that certain Limited Warranty Deed from RREEF MA-II Westpark Drive, Inc., a Delaware corporation, to Cabot Industrial Properties, LP, a
Delaware limited partnership, dated September 8, 1998, field for record September 9, 1998 and recorded in Deed Book 25106, page 132, Fulton County, Georgia records. 

A-1-20

 

Group
I

Site No. 19

NBU 020401531

5000 Westpark Drive 

All
that tract or parcel lying and being in Land Lot 89 of the 14th District formerly Fayette County, now Fulton County, and being more particularly described as follows: 

Begin
at the northeast corner of the intersection of the extended rights-of-way of North Westpark Drive (60 foot wide right-of-way) and South Westpark
Drive (60 foot wide right-of-way) and thence proceeding in a northerly direction along the extended eastern right-of-way line of North Westpark Drive a
distance of 20.00 feet to a point, said point being on the eastern right-of-way line of North Westpark Drive; thence in a northerly, northeasterly, and easterly direction along
said right-of-way line, a distance of 1249.50 feet to a PK nail set, said PK nail being on the southern right-of-way line of North Westpark Drive and
being the POINT OF BEGINNING; thence along the curvature of said right-of-way line, said curvature having a chord bearing of North 86 degrees 02 minutes 30 seconds East and a
radius of 1116.45 feet, an arc distance of 108.82 feet (108.78 feet measured) to a point; thence North 88 degrees 50 minutes 00 seconds East along said right-of-way line a
distance of 322.35 feet to a 5/8" rebar set; thence South 06 degrees 21 minutes 45 seconds West a distance of 644.70 feet to a 5/8" rebar set;
thence North 83 degrees 42 minutes 15 seconds West a distance of 426.48 feet to a PK nail set; thence North 06 degrees 21 minutes 15 seconds East a distance of 583.47 feet to the POINT OF BEGINNING. 

Said
tract or parcel containing 6.035 acres more or less, as shown on "As-Built" Survey by Urban Engineers, Inc., dated December 17, 1980, last revised July 1, 1981. 

TOGETHER
WITH the rights, easements, privileges and obligations appurtenant to the above described lands created and established under that certain Agreement and Declaration of Easements for Common
Drives, Draining, Maneuvering and Parking by and between M.D. Hodges Enterprises, Inc., and Claude N. Rosenberg, Jr., Paul Sack, Alander F. Hogland, Johnson S. Bogart, Richard J. Bertero,
Donald A. King, Jr., Orra C. Hyde, III, Wayne R. Harkins and Dean M. Greenwood and their successors in trust, as Trustees of the RREEF MidAmerica Fund-II, a California Group Trust under
Agreement of Trust dated as of April 1 1980, dated July 8, 1981, filed July 9, 1981, and recorded in Deed Book 7892, page 412, Fulton County, Georgia records. 

This
being the same property as conveyed in that certain Limited Warranty Deed from RREEF MA-II Westpark Drive, Inc., a Delaware Corporation, to Cabot Industrial Properties, LP, a
Delaware Limited Partnership, dated September XX, 1998, filed for record September 9, 1998 and recorded in Deed Book 25106, page 132, Fulton County, Georgia records. 

A-1-21

 

Group
I

Site No. 20

NBU 020401532

1700 Westgate Parkway 

        ALL
THAT TRACT or parcel of land lying and being in Land Lot 67 of the 9C District, Fulton County, Georgia, and being more particularly described as follows: 

TO
FIND THE TRUE POINT OF BEGINNING, begin at the point of intersection of the line common to Land Lots 132 and 136 of the 14th FF District of Fulton County, Georgia, with the
northwestern right-of-way line of Fulton Industrial Boulevard (a 200 foot right-of-way); and running thence South 43 degrees 50 minutes 56 seconds West,
along said right-of-way line, a distance of 358.08 feet to the point of intersection of said right-of-way line with the southwestern
right-of-way line of Westgate Parkway (right-of-way of varying widths); thence leaving said right-of-way line of Fulton
Industrial Boulevard and running in a generally northwesterly and westerly direction, along said right-of-way line of said proposed Westgate Parkway the following courses and
distances: North 01 degree 09 minutes 04 seconds West, a distance of 50.00 feet to a point; North 46 degrees 09 minutes 04 seconds West, a distance of 64.64 feet to a point; North 44 degrees 22
minutes 09 seconds West, a distance of 450.22 feet to a point; North 46 degrees 09 minutes 04 seconds West, a distance of 1,038.66 feet to a point; along the arc of a 536.56 foot radius curve, an arc
distance of 364.16 feet to a point (said arc being subtended by a chord lying to the southwest thereof and bearing North 65 degrees 35 minutes 41 seconds West a distance of 357.22 feet); and North 85
degrees 02 minutes 17 seconds West, a distance of 464.40 feet to an iron pin set marking the TRUE POINT OF BEGINNING; from the TRUE POINT OF BEGINNING, as thus established, running thence South 04
degrees 57 minutes 44 seconds West, a distance of 60.25 feet to an iron pin set; thence South 26 degrees 09 minutes 58 seconds East, a distance of 855.36 feet to an iron pin set; thence South 63
degrees 50 minutes 02 seconds West, a distance of 648.68 feet to an iron pin set (on the centerline of a 30-foot Plantation Pipeline Company Easement); thence North 26 degrees 13 minutes
00 seconds West, along the centerline of said pipeline easement, a distance of 1,134.32 feet to an iron pin set on said southern right-of-way line of said proposed Westgate
Parkway; thence in an easterly direction, along said right-of-way line of said proposed Westgate Parkway, the following courses and distances: along the arc of a 1,280.00 foot
radius curve, an arc distance of 641.30 feet to an iron pin set (said arc being subtended by a chord lying to the south thereof and bearing North 80 degrees 36 minutes 31 seconds East a distance of
634.61 feet); and South 85 degrees 02 minutes 18 seconds East, a distance of 85.55 feet to the iron pin set marking the TRUE POINT OF BEGINNING. 

The
above-described property is shown as 15.853 acres on, and is described according to, plat of boundary survey prepared for Raco Fulton Properties, LP, and the Prudential Insurance Company of
America by Hayes, James & Associates, Inc., bearing the seal and certification of Billy Ray Cheek, Georgia Registered Land Surveyor No. 1615; dated September 28, 1988, last
revised November 17, 1988, which said plat of survey is incorporated herein by this reference and made a part of this description. 

A-1-22

 

Group
I

Site No. 21

NBU 020401533

1075 & 1150 Cobb International Place 

All
that tract or parcel of land lying and being in Land Lot 176, 20th District, City of Kennesaw, Cobb County, Georgia, and being more particularly described as follows: 

To
find the point of beginning commence at a 1/2 inch re-bar located at the intersection of the eastern right-of-way line of Cobb International
Boulevard (88 foot right-of-way) and the Land Lot Line dividing Land Lots 176 and 205, THENCE along said Land Lot Line South 89 degrees 04 minutes 20 seconds East for a
distance of 635.91 feet to a point on said Land Lot Line, said point being the POINT OF BEGINNING; From the POINT OF BEGINNING THUS ESTABLISHED, THENCE North 00 degrees 48 minutes 04 seconds East for
a distance of 403.10 feet to a point; THENCE North 43 degrees 34 minutes 55 seconds West for a distance of 53.36 feet to a point on the southern right-of-way line of Cobb
International Place; THENCE continue along said right-of way line along a curve to the left having a radius of 85.00 feet and an arc length of 121.04 feet, being subtended by a chord of
North 05 degrees 37 minutes 47 seconds East for a distance of 111.06 feet to a 5/8 inch re-bar on said right-of-way line; THENCE leaving said
right-of-way line, North 54 degrees 43 minutes 51 seconds East for a distance of 53.83 feet to a 5/8 inch re-bar; THENCE North 00 degrees 46 minutes
40 seconds East for a distance of 402.95 feet to a 5/8 inch re-bar; THENCE North 88 degrees 44 minutes 58 seconds East for a distance of 318.97 feet to a 5/8
inch re-bar; THENCE North 88 degrees 45 minutes 11 seconds East for a distance of 11.46 feet to a 5/8 inch re-bar; THENCE South 01 degrees 41 minutes 21 seconds
East for a distance of 1,000.17 feet to a point on the Land Lot Line dividing Land Lots 176 and 205; THENCE continue along said Land Lot Line North 89 degrees 04 minutes 20 seconds West for a distance
of 389.05 feet to a point, said point being the POINT OF BEGINNING. 

TOGETHER
WITH those easement rights arising under that certain Construction and Easement Agreement by and between Albritton Development Company I, Ltd., a Texas limited partnership, Cobb
International Park Association, Inc., a Georgia non-profit corporation, and Trivest Associates, Ltd., a Georgia limited partnership, dated as of October 30, 1986,
filed for record October 31, 1986 at 3:08 p.m., recorded in Deed Book 4186, Page 459, Records of Cobb County, Georgia. 

ALSO
TOGETHER WITH those easement rights arising under that certain Easement from Cobb International Park Association, Inc., a Georgia non-profit corporation, to Trivest
Associates, Ltd., a Georgia limited partnership, dated as of October 30, 1986, filed for record October 31, 1986 at 3:08 p.m., recorded in Deed Book 4186, Page 453, Records
of Cobb County, Georgia. 

ALSO
TOGETHER WITH those easement rights arising under that certain Reciprocal Drainage Easement Agreement by and between Trivest Associates, Ltd., a Georgia limited partnership, and Laurence
E. Mansfield, III, dated as of August 1, 1988, filed for record August 3, 1988 at 11:29 a.m., recorded in Deed Book 5023, Page 98, Records of Cobb County, Georgia. 

ALSO
TOGETHER WITH those easement rights arising under that certain Easement Agreement by and between Trivest Associates, Ltd., a Georgia limited partnership, and Raco Land Ventures I, L.L.C.,
a Georgia limited liability company, dated as of June 20, 1995, filed for record June 21, 1995 at 3:42 p.m., recorded in Deed Book 8930, Page 113, Records of Cobb County, Georgia. 

Said
tract or parcel contains 8.297 acres more or less and is shown, as 1075 and 1150 Cobb International Place, on a survey entitled "ALTA/ACSM Land Title Survey 1075, 1100 & 1150 Cobb
International Place Survey of Property for RACO/Melaver, L.L.C., Cabot Industrial Properties, L.P., and Commonwealth Land Title Insurance Company," prepared by Urban Engineers, Inc., bearing
the seal and certification of Richard T. Grant, Georgia Registered Land Surveyor No. 1748, dated October 22, 1996, last revised March 4, 1998. 

Being
the same property as conveyed by that certain Limited Warranty Deed from Raco/Melaver, L.L.C., a Georgia limited liability company, to Cabot Industrial Properties, L.P., a Delaware limited
partnership, dated March 13, 1998, filed for record March 16, 1998 and recorded in Deed Book 11094, Page 226, Cobb County, Georgia Records. 

A-1-23

 

Group
I

Site No. 22

NBU 020401534

5925 & 5945 Cabot Parkway 

FEE
TRACT: 

ALL
THE TRACT or parcel of land lying and being in Land Lots 840 and 841 of the 1st Section, 2nd District, Forsyth County, Georgia, and being more particularly described as
follows: 

COMMENCING
at the point of intersection of the westerly right-of-way line of Shiloh Road East (a 60-foot right-of-way) and the southwesterly
right-of-way line of Shiloh Road (a variable right-of-way) if said right-of-way lines were extended to a point of intersection;
thence running along the aforesaid right-of-way line extended of Shiloh Road East, South 07 degrees 39 minutes 48 seconds West a distance of 21.89 feet to a point; thence
running along the westerly right-of-way line of Shiloh Road East along a 489.30-foot radius curve to the left an arc distance of 146.71 feet to a point, said curve
being subtended by a 146.16 foot chord bearing South 02 degrees 12 minutes 29 seconds East; thence continuing along said westerly right-of-way of Shiloh Road East along the arc
of a 489.30-foot radius curve an arc distance of 60.04 feet to a point, said curve being subtended by a 60.00-foot chord bearing South 14 degrees 18 minutes 47 seconds East,
said point being the TRUE POINT OF BEGINNING; thence leaving the aforesaid POINT OF BEGINNING and continuing along the westerly right-of-way line of Shiloh Road East an arc
distance of 59.39 feet along the arc of a 489.30-foot radius curve deflecting to the left and having a 59.35-foot chord bearing South 21 degrees 18 minutes 20 seconds East;
thence continuing along said right-of-way line South 24 degrees 21 minutes 30 seconds East, a distance of 108.23 feet to a point; thence continuing along said
right-of-way line an arc distance of 327.14 feet along the arc of a 560.07-foot radius curve deflecting to the left having a 322.51-foot chord bearing
South 41 degrees 19 minutes 00 seconds East; thence leaving the westerly right-of-way line of Shiloh Road East and running South 77 degrees 50 minutes 48 seconds West, a
distance of 500.68 feet to a point; thence South 03 degrees 25 minutes 41 seconds West, a distance of 9.82 feet to a point at the centerline of a creek; thence running along the centerline of creek
approximately 1,186 feet to a point; thence leaving the aforesaid centerline of said creek and running North 63 degrees 24 minutes 04 seconds West, a distance of 116.96 feet to a point; thence North
00 degrees 53 minutes 45 seconds West, a distance of 417.85 feet to a point; thence North 30 degrees 10 minutes 25 seconds East, a distance of 63.31 feet to a point; thence North 89 degrees 01 minute
31 seconds East, a distance of 329.18 feet to a point; thence North 43 degrees 13 minutes 06 seconds East, a distance of 152.61 feet to a point; thence 62.81 feet along the arc of a
854.99-foot radius curve deflecting to the left and having a 62.80-foot chord bearing South 47 degrees 56 minutes 50 seconds East; thence 291.70 feet along the arc of a
360.00-foot radius curve deflecting to the left and having a 283.78-foot chord bearing South 73 degrees 15 minutes 50 seconds East; thence North 83 degrees 31 minutes 25
seconds East, a distance of 403.16 feet to a point; thence 70.65 feet along the arc of a 560.00-foot radius curve deflecting to the left and having a 70.60-foot
chord bearing North 79 degrees 54 minutes 35 seconds East; thence North 76 degrees 17 minutes 44 seconds East, a distance of 154.01 feet to the POINT OF BEGINNING. 

Said
parcel contains 16.8812 acres of land, more or less, and is shown as Lots 100 and 200 on, and described according to, that certain Boundary Survey for Meadows Business Center, LLC, et al.,
prepared by Greenhorne & O-Mara, Inc. dated April 12, 1999, which survey is incorporated herein by this reference. 

A-1-24

 

LEASEHOLD
TRACT: 

ALL
THAT TRACT or parcel of land lying and being in Land Lot 840 of the 2nd District of Forsyth County, Georgia, and being more particularly described as follows: 

Commencing
at the westerly right-of-way of Shiloh Road East (having a variable right-of-way) and the northerly right-of-way of
Cabot Parkway (having a 60' right-of-way), said point being THE POINT OF COMMENCEMENT; thence following the northerly right-of way of Cabot Parkway South 76 degrees
17 minutes 44 seconds West for a distance of 153.38 feet to a point; thence along a curve to a right having a radius of 500.00 feet and an arc length of 63.08 feet, being subtended by a chord of South
79 degrees 54 minutes 34 seconds West for a distance of 63.04 feet to a point; thence South 83 degrees 31 minutes 25 seconds West for a distance of 148.51 feet to a 5/8"
rebar, said point being the TRUE POINT OF BEGINNING; thence continuing along the northerly right-of-way of Cabot Parkway South 83 degrees 31 minutes 25 seconds West for a
distance of 254.64 feet to a point; thence along a curve to the right having a radius of 300.00 feet and an arc length of 80.40 feet, being subtended by a chord of North 88 degrees 47 minutes 57
seconds West for a distance of 80.16 feet to a 5/8" rebar; thence leaving the northerly right-of-way of Cabot Parkway North 09 degrees 53 minutes 12
seconds East for a distance of 26.97 feet to a 5/8" rebar; thence North 29 degrees 52 minutes 38 seconds West for a distance of 123.37 feet to a
5/8" rebar; thence North 83 degrees 29 minutes 33 seconds East for a distance of 311.41 feet to a 5/8" rebar; thence South 29 degrees 36 minutes
24 seconds East for a distance of 163.09 feet to the northerly right-of-way of Cabot Parkway and THE POINT OF BEGINNING. 

Said
tract containing 1.075 acres more or less. 

A-1-25

   
Group I

Site No. 23

NBU 20401535

14 & 16 Progress Road 

A
certain parcel of land situated in Billerica, Middlesex County and Commonwealth of Massachusett, being the premises shown as Lot 1-B on a plan entitled "Plan of Land Revised Subdivision
in WEM Indus. Park" by Howe Surveying Associates, Inc. dated June 16, 1986 and being more particularly bounded and described according to said plan as follows: 

	Easterly, Northerly

and Northwesterly	 	by the line of the cul-de-sac at the end of Progress Road, 149.05 feet
	

Northerly	
 	

by the line of said cul-de-sac, 27.40 feet;
	

Northeasterly	
 	

by the southwesterly line of Progress Road, 273.55 feet;
	

Southeasterly	
 	

by Lot 10 as shown on said plan, 624.20 feet;
	

Southwesterly	
 	

by land now or formerly of Francis Wyman Assoc., by four lines measuring respectively, 283.73 feet; 105.70 feet; 264.28 feet and 325.75 feet;
	

Northwesterly	
 	

by the Conservation Parcel as shown on said plan; and
	

Northeasterly	
 	

by Lot 2-B as shown on said plan, 335 feet.

Excepting
and excluding from the above described land the fee in the portion of Progress Road and the cul-de-sac adjacent thereto. 

The
granted premises comprise a portion of Parcels 3 and 4 as shown on a plan entitled "Plan of Land in Billerica and Burlington, Massachusetts" by Emmons, Fleming and Bienvenu, Engineers &
Surveyors, dated June 1967 and recorded with said Deeds, Plan Book 112, Plan 51. 

Together
with the right and easement, in common with others lawfully entitled thereto, for the use of Progress Road, Dunham Road Extension, Dunham Road and Plank Street for ingress and egress to and
from Middlesex Turnpike, a public way, which use shall be for all purposes for which streets and ways are used in the Town of Billerica. 

A-1-26

 

Group
I

Site No. 24

NBU 20401536

19 Technology Drive 

A
certain parcel of land situated on the northerly side of Technology Drive in the Town of Auburn, County of Worcester and Commonwealth of Massachusetts, bounded and described as follows: 

Beginning
at a railroad spike found on the northerly sideline of Technology Drive at the southeast corner of the land now or formerly of Brisson Electric; 

Thence,
N 28° 11' 21" W by Brisson Electric 469.75 feet to a concrete bound and the land now or formerly of the Massachusetts Turnpike Authority; 

Thence,
N 32° 52' 57" E by said land 296.94 feet to Route 1-90; 

Thence,
easterly by Route 1-90 a curve to the left having a radius of 12,150.00 feet an arc distance of 292.55 feet to the land now or formerly of Casey; 

Thence,
S 10° 40' 21" E by Casey 605.59 feet to Technology Drive; 

Thence,
westerly and southwesterly by Technology Drive by a curve to the left having a radius of 140.00 feet an arc distance of 50.00 feet; 

Thence,
S 69° 26' 00" W by Technology Drive 310.62 feet to the point of beginning. 

Said
parcel is shown on the plan recorded in Plan Book 480, Page 117 at the Worcester County Registry of Deeds. 

A-1-27

 

Group
I

Site No. 25

NBU 20401537

82 South Street 

That
certain parcel of land in the County of Middlesex and Commonwealth of Massachusetts, described as follows: 

	Easterly	 	by South Street, two hundred ninety-eight and 57/100 feet;
	

Southeasterly	
 	

three hundred eighty-two and 56/100 feet;
	

Easterly	
 	

four hundred twenty and 54/100 feet;
	

Southeasterly	
 	

three hundred fifty-one and 57/100 feet; and
	

Easterly	
 	

four hundred fifty-three and 09/100 feet, all by land now or formerly of James F. Moran;
	

Southwesterly	
 	

eight hundred twenty-eight and 62/100 feet; and
	

Southeasterly	
 	

three hundred thirty-seven and 20/100 feet, by land now or formerly of Boy Scouts Leaders Association;
	

Northwesterly	
 	

by Belknap Street, ten hundred sixty-nine and 94/100 feet; and
	

Northerly and

Northwesterly	
 	

by Lot 3 as shown on plan hereinafter mentioned, eight hundred thirty-two and 56/100 feet.

Said
parcel is shown as Lot 4 on said plan (Pan No. 36372B). 

All
of said boundaries are determined by the Court to be located as shown on a subdivision plan, as approved by the Court, filed in the Land Registration Office, a copy of which is filed in the
Registry of Deeds for the South Registry District of Middlesex County in Registration Book 1005, Page 195, with Certificate 175145. 

A-1-28

 

Group
I

Site No. 26

NBU 20401538

65 Sunnyslope Avenue 

A
parcel of land in Tewksbury, Middlesex County, Massachusetts, situated on the easterly, northerly and westerly sideline of the end of Sunnyslope Avenue, beginning at a point on the westerly sideline
of Sunnyslope Avenue at land now or formerly Meek, thence running: 

	N 60° 05' 32"W	 	175.12' along land now or formerly Meek and land now or formerly Atlantic Dracut Realty to a point; thence
	

N 10° 20' 12" E	
 	

195.69' along land now or formerly Atlantic Dracut Realty to a point; thence
	

N 75° 19' 01" E	
 	

18.00' along land now or formerly Atlantic Dracut Realty to a point; thence
	

N 10° 20' 12" E	
 	

22.07' along land now or formerly Atlantic Dracut Realty to a point; thence
	

N 75° 19' 01" E	
 	

164.09' along land now or formerly Atlantic Dracut Realty to a point; thence
	

N 10° 20' 12"E	
 	

609.43' along land now or formerly Atlantic Dracut Realty to a point at land now or formerly owners unknown; thence
	

S 88° 50' 24" E	
 	

687.18' along land now or formerly owners unknown and land now or formerly Parisi to a point; thence
	

S 03° 54' 17"W	
 	

1219.54' along land now or formerly Parisi to a point; thence
	

S 61 ° 39' 36"W	
 	

356.89' along land now or formerly Parisi to a point; thence
	

S 43° 24' 36" W	
 	

48.35' along land now or formerly Parisi to a point at land now or formerly DiBiase; thence
	

N 10° 20' 12" E	
 	

120.00' along land now or formerly DiBiase and the easterly end of Highland Road to a point; thence
	

N 79° 39' 48" W	
 	

90.00' along the northerly sideline of Highland Road to a point at land now or formerly Liegakos; thence
	

N 10° 20' 12" E	
 	

270.00' along land now or formerly Liegakos to a point; thence
	

N 79° 39' 48" W	
 	

380.00' along land now or formerly Liegakos and the northerly sideline of Raven Road to the point of intersection with the easterly sideline of Sunnyslope Avenue; thence
	

N 10° 20' 12" E	
 	

230.00' along the easterly sideline of Sunnyslope Avenue to a point; thence
	

N 79° 39' 48" W	
 	

40.00' along the northerly sideline of Sunnyslope Avenue to a point; thence
	

S 10° 20' 12" W	
 	

217.05' along the westerly sideline of Sunnyslope Avenue to the point of beginning.

A-1-29

 

Group I  

Site
No. 27

2627-2659 and 2701-2737 Market Street

Garland, Texas 

Site 4  

BEING
a tract of land situated in the Henry Reid Survey, Abstract No. 1197, Dallas County, Texas, and being ALL OF LOT 2, BLOCK 1, NORTHEAST BUSINESS PARK NO. 6, an addition to the City of
Garland, Dallas County, Texas as recorded in Volume 80168, Page 1743 of the Deed Records of Dallas County, Texas (D.R.D.C.T.), and being all of that tract of land described as Parcel V in deed to
Calwest Texas Properties, L.P. as recorded in Volume 99139, Page 2367, D.R.D.C.T., and being more particularly described as follows: 

COMMENCING
at an iron pin found at the intersection of the South right-of-way line of Wood Drive (60 feet wide) with the West right-of-way line of
Market Street (50 feet wide), said point of intersection being the beginning of a circular curve to the right, having a radius of 456.66 feet and whose back tangent bears North 14 degrees 42 minutes
51 seconds West; 

THENCE
southeasterly and southerly along said curve and along said West line of Market Street, through a central angle of 14 degrees 51 minutes 42 seconds, a chord distance of 118.12 feet, and an arc
distance of 118.45 feet to an iron pin found at the point of tangency of said curve; 

THENCE
South 00 degrees 08 minutes 51 seconds West, continuing along said West line, a distance of 260.60 feet to an iron pin found for the POINT OF BEGINNING; 

THENCE
South 00 degrees 08 minutes 51 seconds West, continuing along said West line a distance of 478.0 feet to an iron pin found for a corner; 

THENCE
North 89 degrees 51 minutes 09 seconds West departing from said West line of Market Street, a distance of 597.78 feet to an iron pin found for a corner in the East line of Kingsley Road
Industrial District No. 2, an addition to the City of Garland, Texas, as filed for recorded in Volume 783, Page 1554 of the Map Records of Dallas County, Texas; 

THENCE
North 16 degrees 51 minutes 32 seconds East, along said East line, a distance of 370.58 feet to an iron pin found for a corner; 

THENCE
North 29 degrees 50 minutes 56 seconds East, continuing along said East line, a distance of 141.69 feet to an iron pin found for a corner; 

THENCE
South 89 degrees 51 minutes 09 seconds East, a distance of 421.02 feet to the POINT OF BEGINNING AND CONTAINING 249,394 square feet or 5.725 acres of land. 

A-1-30

 

Group
I

Site No. 27

11910 Shiloh Road

Dallas, Texas

(Perimeter II) 

SITE 5  

BEING
a tract of land situated in the Solomon Dixon Survey, Abstract No. 408, Dallas County, Texas, and being ALL OF LOT 1, BLOCK B/8048 OF PERIMETER BUSINESS PARK, THIRD INSTALLMENT, an
addition to the City of Dallas, Texas, as recorded in Volume 74150, Page 758, Deed Records of Dallas County, Texas (D.R.D.C.T.) and being all of that tract of land described as Parcel II in deed to
Calwest Texas Properties, L.P., as recorded in Volume 99139, Page 2367, D.R.D.C.T., and being more particularly described as follows: 

BEGINNING
at a 1/2 inch iron rod with cap stamped "HALFF ASSOC. INC." (hereafter referred to as "with cap") set for the intersection of the east
right-of-way line of Shiloh Road (110 feet wide) and the north right-of-way line of International Parkway (60 feet wide), said point being the southwest
corner of said Lot 1; 

THENCE
North 00 degrees 22 minutes 00 seconds East, along the east right-of-way line, same being the west line of said Lot 1, a distance of 414.64 feet to a 1/2
inch iron rod with cap found for the common northwest corner of said Lot 1 and the southwest corner of that tract of land described in deed to Knickerbocker Properties, Inc. XII as recorded in
Volume 96042, Page 3809, D.R.D.C.T.; 

THENCE
South 89 degrees 38 minutes 00 seconds East, departing said east right-of-way line and said west line and along the common line of said Lot 1 and said Knickerbocker
tract and generally along a fence, a distance of 639.88 feet to a 1/2 inch iron rod with cap found for the common northeast corner of said Lot 1 and northwest corner of that
tract of land described in deed to Outdoor Cap Co., Inc. as recorded in Volume 94117, Page 3390, D.R.D.C.T.; 

THENCE
South 00 degrees 22 minutes 00 seconds West, departing said common line and said fence line and along the common line between said Lot 1 and said Outdoor Cap Co. tract, a distance of 419.30
feet to a 1/2 inch iron rod found for the common southeast corner of said Lot 1 and southwest corner of said Outdoor Cap Co. tract, said point being the aforementioned north
right-of-way line of International Parkway; 

THENCE
North 89 degrees 13 minutes 00 seconds West, departing said common line and along said North right-of-way line of International Parkway, a distance of 639.90 feet to the
POINT OF BEGINNING AND CONTAINING 266,813 square feet or 6.125 acres of land. 

A-1-31

 

Group
I

Site No. 27

12555-12589 and 12591-12623 Perimeter Drive

Dallas, Texas

(Perimeter IV) 

SITE
6 

BEING
a tract of land situated in the Solomon Dixon Survey, Abstract No. 408, and being a PART OF LOT 1, BLOCK D/8048, PERIMETER BUSINESS PARK, FOURTH INSTALLMENT, an addition to the City of
Dallas, Texas as recorded in Volume 74096, Page 1923, Deed Records, Dallas County, Texas (D.R.D.C.T.), and being all of that tract of land described as Parcel III in deed to Calwest Texas Properties
L.P. as recorded in Volume 99139, Page 2367, D.R.D.C.T., and being more particularly described as follows: 

COMMENCING
at a 1/2 inch iron rod with cap stamped "HALFF ASSOC. INC." (hereafter referred to as "with cap") found for the intersection of the East
right-of-way line of Shiloh Road (110 feet wide) and the North right-of-way line of Perimeter
Drive (60 feet wide), said point also being the Southwest corner of Perimeter Business Park, Seventh Installment, Lot 1A, Block D/8048 as recorded in Volume 99139, Page 2367, D.R.D.C.T.; 

THENCE
South 89 degrees 38 minutes 00 seconds East, along said North right-of-way line, a distance of 290.22 feet to a 1/2 inch iron rod found for the POINT OF
BEGINNING, said point being the common Southeast corner of said Lot 1A and Southwest corner of said Parcel III; 

THENCE
North 00 degrees 22 minutes 00 seconds East, departing said North right-of-way line and along the common line between said Lot 1A and said Parcel III, a distance of
349.85 feet to a 1/2 inch iron rod with cap found for the common Northeast corner of said Lot 1A and Northwest corner of said Parcel III; 

THENCE
South 89 degrees 42 minutes 22 seconds East, along the North line of said Parcel III, said being the North line of the aforementioned Lot 1, Block D/8048, a distance of 434.37 feet to a
1/2 inch iron rod with cap found for the Northeast corner of said Lot 1, said point being on the West line of Sport City Toyota, an addition to the City of Dallas as recorded in Volume
85253, Page 2498, D.R.D.C.T.; 

THENCE
South 00 degrees 45 minutes 14 seconds West, departing said North line and along the common line between said Lot 1 and said Sport City Toyota Addition, a distance of 350.42 feet to a
1/2 inch iron rod with cap found for the Southeast corner of said Lot 1, said point also being on the aforementioned North right-of-way line of Perimeter Drive; 

THENCE
North 89 degrees 38 minutes 00 seconds West, departing said common line and along said North right-of-way line, a distance of 432.00 feet to the POINT OF BEGINNING AND
CONTAINING 151,673 square feet or 3.4819 acres of land, more or less. 

A-1-32

 

Group
I

Site No. 27

7215 and 7240-60 Wynnwood Lane 

SITE
7 

TRACT
1 (7215-7225 Wynnwood Lane): 

BEING
a 2.3874 acre (103,995.0 square feet) tract of land being out of and a PART OF BLOCK ONE OF THE WYNNWOOD PARK ADDITION as recorded in Volume 129, Page 69 of the Harris County Map Records, in the
John Reinerman Survey, Abstract 642 in Houston, Harris County, Texas and being more particularly described by metes and bounds as follows: 

COMMENCING
at the intersection of the South line of said Block One and the Northeasterly right-of-way line of Hempstead Highway (Old U.S. Highway 290), 100 foot
right-of-way; 

THENCE
South 89 deg. 26 min. 00 sec. East along the South line of Block One and along the center line of a Missouri Kansas and Texas Railroad centered in a 17.00 foot wide railroad easement as per
Volume 1941, Page 453 of the Harris County Deed Records, a distance of 402.75 feet to a 5/8 inch iron rod found for the Southwest corner and the POINT OF BEGINNING of the herein
described tract of land; 

THENCE
North 00 deg. 34 min. 00 sec. East, along the West line of said tract, at 8.50 feet passing the North line of the aforementioned railroad easement and at 221.10 feet passing a 10.00 foot wide
building setback line, continuing for a total distance of 231.10 feet to a found 5/8 inch iron rod for the Northwest corner in the South line of Wynnwood Lane (60 foot
right-of-way) and the North line of Block One; 

THENCE
South 89 deg. 26 min. 00 sec. East along the North lines of Block One and of said 10.00 foot wide building setback line also being the South line of Wynnwood Lane (60 foot
right-of-way) for a total distance of 450.00 feet to a found one inch iron rod for Northeast corner; 

THENCE
South 00 deg. 34 min. 00 sec. West, along the East line of said tract, at 10.00 feet passing the aforementioned 10.00 foot wide building setback line and at 222.60 feet passing the North line
of the said 17.00 foot wide railroad easement, continuing for a total distance of 231.10 feet to a 5/8 inch iron rod found for the Southeast corner of the herein described tract of land
and located on the South line of Block One and center of the aforementioned railroad easement; 

THENCE
North 89 deg. 26 min. 00 sec. West along the South line of Block One and with the center line of said railroad easement for a distance of 450.00 feet to the POINT OF BEGINNING and containing
2.3874 acres (103,995.0 square feet) of land, more or less. 

TRACT
2 (7240 - 7260 Wynnwood Lane): 

Being
a 2.0661 acres (90,000.0 square feet) tract of land being out of and a PART OF BLOCK ONE OF THE WYNNWOOD PARK ADDITION as recorded per plat in Volume 129, Page 69 of the Harris County Map
Records, in the John Reinerman Survey, Abstract 642, in Houston, Harris County, Texas, and being more particularly described by metes and bounds as follows: 

BEGINNING
at a found 5/8 inch iron rod located in the North line of Wynnpark Drive (60 foot right-of-way), located at its intersection with a Northerly
projection of the East line of Fawnhope Drive (60 foot right-of-way); 

THENCE
North 00 deg. 34 min. 00 sec. East, a distance of 180.00 feet to a found 5/8 inch iron rod for corner, said corner being on the South line of a 40.00 foot wide Houston Lighting
and Power Company easement; 

A-1-33

 

THENCE
South 89 deg. 26 min. 00 sec. East, a distance of 500.00 feet along the South line of the aforementioned Houston Lighting and Power Company easement to a found 5/8 inch iron rod
at the Northeast corner of the herein described tract of land; 

THENCE
South 00 deg. 34 min. 00 sec. West, a distance of 180.00 feet to a found 3/4 inch iron rod in the North line of said Wynnpark Drive; 

THENCE
North 89 deg. 26 min. 00 sec. West, a distance of 500.00 feet along the North line of said Wynnpark Drive to the POINT OF BEGINNING and 2.0661 acres (90,000.0 square feet) of land, more or
less. 

A-1-34

 

Group
I

Site No. 27

12603 & 12613 Executive Drive

(Corporate IV)

SITE 8  

All
that certain 4.0862 acres of land out of UNRESTRICTED RESERVE "F", CORPORATE BUSINESS PARK, according to the plat thereof recorded in Volume 23, Page 5, Fort Bend County Map Records, and
Unrestricted Reserve "B", Corporate Business Park, according to the replat thereof recorded in Volume 22, Page 9, Fort Bend County Map Records, Stafford, Fort Bend County, Texas, and being more
particularly described by metes and bounds as follows: 

BEGINNING
at a found 5/8" iron rod with cap marking the intersection of the East right-of-way line of Executive Drive (60' wide) with the North line
of said Unrestricted Reserve "F"; 

THENCE
South 89 deg. 44 min. 27 sec. East—251.57 feet, with said North line, to a found 5/8" iron rod for corner; 

THENCE
South 00 deg. 04 min. 44 sec. West—709.20 feet, with the West line of a called 9.1354 acre tract described in deed dated September 30, 1994, from Exchange Business
Center, Inc. to Corporate Exchange Limited Partnership filed in the Official Public Records of Real Property of Fort Bend County, Texas at Clerk File No. 9466510, to a found "X" in
concrete for corner; 

THENCE
South 89 deg. 59 min. 24 sec. West—249.97 feet, with the North line of a called 2.08333 acre tract described in a deed dated May 1, 1980 from Vantage Properties, Inc.
to Corporate Center F-80 Investment Venture filed in the Official Public Records of Real Property of Fort Bend County, Texas at Clerk File No. 8667468, to a found
5/8" iron rod for corner; 

THENCE
North 00 deg. 03 min. 00 sec. West—710.38 feet, to the POINT OF BEGINNING of the herein described tract and containing 4.0862 acres (177,993 square feet) of land, more or less. 

A-1-35

   
Group I

Site No. 27

4000 Greenbriar Drive 

SITE 9:  

Description
of a 16.0001 acre (696,955 square feet) tract of land OUT OF RESERVE "B" OF GREENBRIAR SOUTHWEST, SECTION THREE, as recorded in Volume 22, Page 33 of the City of Fort Bend County Plat
Records in the Thomas J. Nichols Survey, Abstract No. 296, Fort Bend County, Texas and being more fully described as follows: 

BEGINNING
at a 5/8 inch iron rod found for the Northeast corner of said Reserve "B" of Greenbriar Southwest, Section Three, the Northwest corner of Commercial/Industrial Reserve "A" of
Greenbriar Southwest Section Four, and being a point in the South right-of-way line of Bluebonnet Drive (60 feet wide); 

THENCE,
South 00 deg. 09 min. 12 sec. East, along the common line between Section Three and Section Four, a distance of 1040.66 feet to a 5/8 inch iron rod found for the Southeast
corner of the herein described tract in the North right-of-way line of Greenbriar Drive (65 feet wide); 

THENCE,
South 89 deg. 56 min. 55 sec. West, along the North right-of-way line of Greenbriar Drive, a distance of 660.17 feet to a cut-back corner from which a
5/8 inch iron rod found bears North 82 deg. 57 min. 26 sec. West, a distance of 1.38 feet; 

THENCE,
North 45 deg. 06 min. 09 sec. West, a distance of 14.15 feet to a cut-back corner from which a found 5/8 inch iron rod bears North 79 deg. 20 min. 26 sec. West, a
distance of 1.55 feet; 

THENCE,
North 00 deg. 09 min. 12 sec. West, a distance of 1029.47 feet to a 5/8 inch iron rod found for the Northwest corner of the herein tract, in the South
right-of-way line of Bluebonnet Drive; 

THENCE,
North 89 deg. 50 min. 48 sec. East, along the South right-of-way line of Bluebonnet Drive, a distance of 670.17 feet to the POINT OF BEGINNING and CONTAINING 16.001
acres of land (696,965 square feet) more or less. 

A-1-36

 

Group
I

Site No. 27

1302 Avenue R 

SITE
12 

BEING
ALL OF SITE 1, BLOCK 2 OF THE FOURTH INSTALLMENT INDUSTRIAL COMMUNITY NO. 5 GREAT SOUTHWEST INDUSTRIAL DISTRICT, an addition to the City of Grand Prairie as recorded in Volume
388-115, Page 33 of the Plat Records of Tarrant County, Texas (PRTCT) and being more particularly described as follows: 

BEGINNING
at a 1/2 inch iron rod found at the most northwesterly corner of said SITE 1, BLOCK 2, said point being found in the southerly right-of-way line of
AVENUE R (60' right-of-way); 

THENCE
departing the westerly line of said SITE 1, BLOCK 2 and along the southerly right-of-way line of said AVENUE R EAST a distance of 375.00 feet to a
1/2 inch iron rod found for corner, said point being the most northeasterly corner of said SITE 1, BLOCK 2; 

THENCE
departing the southerly line of said AVENUE R and along the easterly line of said SITE 1, BLOCK 2 SOUTH a distance of 419.65 feet to a 5/8 inch iron rod found for corner in the
northerly line of a DRAINAGE & UTILITY Right-of-Way (70' right-of -way), said point being the most southeasterly corner of said SITE 1, BLOCK 2; 

THENCE
departing the easterly line of said SITE 1, BLOCK 2 and along the northerly line of said DRAINAGE & UTILITY Right-of-Way North 89 degrees 53 minutes 56 seconds
West a distance of 375.00 feet to a 1/2 inch iron rod found for corner, said point being the most southwesterly corner of said SITE 1, BLOCK 2; 

THENCE
departing the northerly line of said DRAINAGE & UTILITY Right-of-Way and along the westerly line of said SITE 1, BLOCK 2 NORTH a distance of 418.99 feet to the
POINT OF BEGINNING; 

CONTAINING
within these metes and bounds 3.610 acres or 157,244 square feet or land more or less. 

A-1-37

 

Group
I

Site No. 27

601-09 Avenue R 

SITE
13 

BEING
ALL OF SITE 10-R-2, BLOCK 1 PARCEL 1, THIRD INSTALLMENT, INDUSTRIAL COMMUNITY NO. 5, GREAT SOUTHWEST INDUSTRIAL DISTRICT, an addition to the City of Grand Prairie as
recorded in Volume 388-140,
Page 65 of the Plat Records of Tarrant County, Texas (PRTCT) and being more particularly described as follows: 

COMMENCING
at the intersection of the easterly right-of-way line of STATE HIGHWAY 360 (variable width right-of-way) and the northerly
right-of-way line of AVENUE "R" (60' right-of-way); 

THENCE
departing the easterly right-of-way line of said STATE HIGHWAY 360 and along the northerly right-of-way line of said AVENUE "R" EAST a distance
of 349.23 feet to a 1/2 inch iron rod found for the POINT OF BEGINNING, said point being the most southwesterly corner of said SITE 10-R-2, BLOCK 1; 

THENCE
departing the northerly right-of-way line of said AVENUE "R" and along the westerly line of said SITE 10-R-2, BLOCK 1 as follows: 

North
a distance of 81.50 feet to a 1/2 inch iron rod found for corner; 

West
a distance of 16.33 feet to an "X" cut found in concrete for corner; 

North
12 degrees 31 minutes 44 seconds East a distance of 28.48 feet to a "X" cut found in concrete for corner; 

North
a distance of 46.11 feet to a "X" cut found in concrete for corner; 

North
12 degrees 31 minutes 44 seconds East a distance of 110.57 feet to a 1/2 inch iron rod set for corner, said point being the most northwesterly corner of said SITE
10-R-2, BLOCK 1; 

THENCE
departing the westerly line of said SITE 10-R-2, BLOCK 1 and along the northerly line of said SITE 10-R-2, BLOCK 1 as follows: 

South
74 degrees 41 minutes 00 seconds East a distance of 50.54 feet to a 1/2 inch iron rod set for corner; 

East
a distance of 372.42 feet to a 1/2 inch iron rod found for corner, said point being the most northeasterly corner of said SAID 10-R-2, BLOCK 1; 

THENCE
departing the northerly line of said SITE 10-R-2, BLOCK 1 and along the easterly line of said SITE 10-R-2, BLOCK 1 SOUTH a distance of 250.00
feet to a 1/2 inch iron rod found for corner in the northerly right-of-way line of said AVENUE "R"; 

THENCE
departing the easterly line of said SITE 10-R-2, BLOCK 1 and along the northerly right-of-way line of said AVENUE "R" WEST a distance of 435.00
feet to the POINT OF BEGINNING; 

CONTAINING
within these metes and bounds 2.523 acres or 109,897 square feet of land more or less. 

A-1-38

 

Group
I

Site No. 27

1475-1555 Avenue S 

SITE 14  

TRACT
1 (1555 Avenue S): 

BEING
LOT 1, BLOCK 6, WESTFORK CENTER, an addition to the City of Grand Prairie, Tarrant County, Texas, according to the plat recorded in Volume 388-180, Page 67 of the Plat
Records of Tarrant County, Texas, and being more particularly described by metes and bounds, as follows: 

BEGINNING
at a 1/2" iron rod set, at the most Westerly Southeast corner of said Lot 1, being the West end of a radial corner clip, for the intersection of the North
right-of-way line of Avenue S (a 60 foot wide public right-of-way) with the West right-of-way line of 114th Street (a 60 foot
wide public right-of-way); 

THENCE
West 220.50 feet, to an "X" cut in concrete set, at the Southwest corner of said Lot 1; 

THENCE
North 390.00 feet, along the West boundary line of said Lot 1, to an "X" cut in concrete set, at the Northwest corner of said Lot 1; 

THENCE
East 255.50 feet, along the North boundary line of said Lot 1, to a 1/2" iron rod found, at the Northeast corner of said Lot 1, lying in the West
right-of-way line of aforesaid 114th Street; 

THENCE
along the East boundary line of said Lot 1, and the West right-of-way line of said 114th Street, as follows: 

1.    South
355.00 feet, to a 1/2" iron rod found, at the beginning of a curve to the right; 

2.    Southwesterly
54.98 feet, along said curve to the right having a radius of 35.0 feet, a central angle of 90 degrees 00 minutes 00 seconds and a chord bearing South 45 degrees 00
minutes 00 seconds West, 49.50 feet, to THE PLACE OF BEGINNING, containing 2.282 acres (99,382 square feet) of land. 

TRACT
2 (1515 Avenue S): 

BEING
LOT 2, BLOCK 6, WESTFORK CENTER, an addition of the City of Grand Prairie, Tarrant County, Texas, according to the plat recorded in Volume 388-180, Page 67 of the Plat Records of
Tarrant County, Texas, and being more particularly described by metes and bounds, as follows: 

BEGINNING
at an "X" cut in concrete, at the Southeast corner of said Lot 2, lying in the North right-of-way line of Avenue S (a 60 foot wide public
right-of-way); 

THENCE
West 219.50 feet, along the North right-of-way line of said Avenue S, and the South boundary line of said Lot 2, to an "X" cut in concrete set, at the Southwest corner
of said Lot 2; 

THENCE
North 390.00 feet, along the West boundary line of said Lot 2, to an "X" cut in concrete set, at the Northwest corner of said Lot 2; 

THENCE
East 219.50 feet, along the North boundary line of said Lot 2, to an "X" cut in concrete set, at the Northeast corner of said Lot 2; 

THENCE
South 390.00 feet, to THE PLACE OF BEGINNING, containing 1.965 acres (85,605 square feet) of land. 

A-1-39

 

TRACT
3 (1475 Avenue S): 

BEING
LOT 3, BLOCK 6, WESTFORK CENTER, an addition to the City of Grand Prairie, Tarrant County, Texas, according to the plat recorded in Volume 388-180, Page 67 of the Plat Records of
Tarrant County, Texas, and being more particularly described by metes and bounds, as follows: 

BEGINNING
at an "X" cut in concrete, at the Southeast corner of said Lot 3, lying in the North right-of-way line of Avenue S (a 60 foot wide public
right-of-way); 

THENCE
West 275.00 feet, along the North right-of-way line of said Avenue S, and the South boundary line of said Lot 3, to a 1/2" iron rod found, at
the Southwest corner of said Lot 3; 

THENCE
North 390.00 feet, along the West boundary line of said Lot 3, and the East boundary line of Tract 1, Site 3, Block 4, Industrial Community No. 6, Installment 1, Great Southwest
Industrial District, an addition to the City of Grand Prairie, Tarrant County, Texas, to an "X" cut in concrete found, at the Northwest corner of said Lot 3; 

THENCE
East 275.00 feet, along the North boundary line of said Lot 3, to an "X" cut in concrete set, at the Northeast corner of said Lot 3; 

THENCE
South 390.00 feet, along the East boundary line of said Lot 3, to THE PLACE OF BEGINNING, containing 2.462 acres (107,250 square feet) of land. 

A-1-40

 

Group
I

Site No. 27

2745 & 2805 & 2875 Market Street

(Market III) 

SITE
15 

TRACT
1: 

BEING
a tract of land situated in the Henry Reid Survey, Abstract No. 1197, Dallas County, Texas, and being ALL OF LOT 1, BLOCK 1, NORTHEAST BUSINESS PARK NO. 12, an Addition to the City of
Garland, Texas as recorded in Volume 85128, Page 2964 of the Deed Records of Dallas County, Texas (D.R.D.C.T.), and being all of that tract of land described as Tract 1 of Parcel IV in deed to Calwest
Texas Properties L.P. as recorded in Volume 99139, Page 2367, D.R.D.C.T., and being more particularly described as follows: 

BEGINNING
at a 1/2 inch iron rod found for the common Northeast corner of said Lot 1 and Southeast corner of Lot 2 of Block 1 of Northeast Business Park No. 6, an addition to the
City of Garland as
recorded in Volume 80168, Page 1743, D.R.D.C.T., said point being in the West right-of-way line of Market Street (50 foot right-of-way); 

THENCE
South 00 degrees 08 minutes 51 seconds West, along said West right-of-way and East line of said Lot 1, a distance of 852.33 feet to a crow's foot cut in concrete found
for the Southeast corner of said Lot 1; 

THENCE
North 89 degrees 51 minutes 09 seconds West, departing said West right-of-way line and said East line and along the South line of said Lot 1, a distance of 801.34 feet
to a 1/2 inch iron rod with cap stamped "HALFF ASSOC. INC." (hereafter referred to as "with cap") found for the Southwest corner of said Lot 1, said point being in the East line
of Kingsley Road Industrial District No. 2, an addition to the City of Garland as recorded in Volume 783, Page 1554, D.R.D.C.T.; 

THENCE
North 00 degrees 09 minutes 55 seconds East, along the common line between said Lot 1 and said Kingsley Road Industrial District No. 2, a distance of 174.49 feet to a 1/2
inch iron rod found for corner; 

THENCE
North 16 degrees 51 minutes 32 seconds East, continuing along said common line, a distance of 707.74 feet to a 1/2 inch iron rod with cap found for the common Northwest corner of
said Lot 1 and Southwest corner of the aforementioned Lot 2; 

THENCE
South 89 degrees 51 minutes 09 seconds East, departing said common line and along the common line between said Lots 1 and 2, a distance of 597.78 feet to the POINT OF BEGINNING AND CONTAINING
613,992 square feet or 14.0953 acres of land, more or less. 

TRACT
2: 

NON-EXCLUSIVE
EASEMENT rights for railroad spur crossing contained in that certain Agreement for Maintenance of Railroad Spur Crossing, by and between Vantage Properties, Inc., a
Texas corporation, and the City of Garland, filed April 2, 1986, recorded in Volume 86064, Page 3222, D.R.D.C.T.; 

TRACT
3: 

NON-EXCLUSIVE
EASEMENT rights for access contained in that certain Reciprocal Access Easement Agreement, by and between CIIF Associates II Limited Partnership, a Delaware limited
partnership, and Jerry Cook Enterprises Limited Liability Company, a Texas limited liability company, recorded in Volume 99139, Page 24, D.R.D.C.T. 

A-1-41

 

Group
I

Site No. 27

11839 Shiloh Road 

SITE 16  

BEING
a tract of land situated in the Enoch Dye Survey, Abstract No. 401 and being A PORTION OF CITY BLOCK NO. A/7471 OF THE CASA LINDA INDUSTRIAL DISTRICT, an addition to the City of Dallas as
recorded in Volume 26, Page 93 of the Map Records of Dallas County, Texas (MRDCT) and being a tract of land conveyed to G.D.A.F. ASSOCIATES as recorded in Volume 94150, Page 02336 of the Deed Records
of Dallas County, Texas (DRDCT) and being more particularly described as follows: 

BEGINNING
at a 1/2 inch iron rod set at the intersection of the westerly right-of-way line of SHILOH ROAD (variable width right-of-way)
and the northerly right-of-way line of SANTA ANNA AVENUE (60' right-of-way); 

THENCE
departing the westerly right-of-way line of said SHILOH ROAD and along the northerly right-of-way line of said SANTA ANNA AVENUE South 89 degrees
53 minutes 00 seconds West a distance of 692.00 feet to a 1/2 inch iron rod found for corner; 

THENCE
departing the northerly right-of-way line of said SANTA ANNA AVENUE North 00 degrees 07 minutes 00 seconds West a distance of 342.99 feet to an "X" cut set in top of a
concrete retaining wall for corner; 

THENCE
North 81 degrees 58 minutes 00 seconds West a distance of 49.48 feet to a 1/2 inch iron rod set for corner in the southerly right-of-way line of the
ATCHISON, TOPEKA & SANTA FE RAILWAY COMPANY (20' right-of-way); 

THENCE
along the southerly right-of-way line of said RAILROAD North 89 degrees 53 minutes 00 seconds East a distance of 745.43 feet to a 1/2 inch iron rod set
for corner in the westerly right-of-way line of said SHILOH ROAD; 

THENCE
departing the southerly right-of-way line of said RAILROAD and along the westerly right-of-way line of said SHILOH ROAD South 00 degrees 36
minutes 40 seconds West a distance of 350.03 feet to the POINT OF BEGINNING; 

CONTAINING
within these metes and bounds 5.582 acres of 243,152 square feet of land more or less. 

A-1-42

 

Group
I

Site No. 27

1246-70 Silber Road

(Silber II) 

SITE
17 

TRACT
1: 

All
that certain 8.5571 acres out of the James Wharton Survey, A-871, Harris County, Texas, and being out of that certain 32.559 acre tract as described in deed dated April 15, 1946
from J.G. Miller and wife, to Edmund L. Lorehn and Thomas H. Shartle filed at Volume 1441, Page 306 of the Harris County Deed Records and being more particularly described by metes and bounds as
follows: 

COMMENCING
at a point marking the Southwest corner of that certain 16.840 acre tract as described in a deed dated January 5, 1970 from Museum of Fine Arts of Houston to Warehouse Leasing
Corporation filed in Volume 7883, Page 76 of the Harris County Deed Records; 

THENCE,
S 88 deg. 28 min. 00 sec. E—970.66 feet, to a found "X" in concrete marking the POINT OF BEGINNING of the herein described tract; 

THENCE,
N 00 deg. 23 min. 01 sec. E—370.65 feet, with the East line of that certain 8.25 acre tract as described in a deed dated October 18, 1976 from Crow-Shutt
No. 9 to Robert T. Crow, et al filed in the Official Public Records of Real Property of Harris County, Texas at Clerk's File No. E955008, Film Code
No. ###-##-####, to a found 5/8 inch iron rod for corner; 

THENCE,
S 88 deg. 23 min. 57 sec. E—1007.30 feet, with the South line of Westview Terrace, according to the plat thereof filed at Volume 27, Page 17 of the Harris County Map Records, to a
found 5/8 inch iron rod for corner, 

THENCE,
S 01 deg. 10 min. 44 sec. West—140.84 feet, with the East line of that certain called 8.590 acre tract as described in deeds dated December 30, 1975 and January 30,
1975 from Robert E. Glaze, et al Trustee to Crow Shutt No. 15 filed in the Official Public Records of Real Property of Harris County, Texas at Clerk's File Nos. E879027 and E387569 and Film
Code No. ###-##-#### and ###-##-####, to a found 1/2 inch iron rod for an angle point; 

THENCE,
S 01 deg. 03 min. 39 sec. E—185.59 feet, continuing with the East line of said called 8.590 acre tract, to a found 5/8 inch iron rod for an angle point; 

THENCE,
S 00 deg. 50 min. 16 sec. E—43.19 feet, continuing with the East line of said called 8.590 acre tract, to a found 1/2 inch iron rod for corner; 

THENCE,
N 88 deg. 28 min. 00 sec. W—1010.92 feet, with the South line of said called 8.590 acre tract, to the POINT OF BEGINNING and containing 8.5571 acres (372,748 square feet) of land,
more or less. 

TRACT
2: 

NON-EXCLUSIVE
EASEMENT rights contained in instrument dated March 6, 1958, executed by W.H. Francis, Jr. and Houston Reinforced Plastics Co., to Globe Box Company, recorded in
Volume 3476, Page 381, Deed Records, Harris County, Texas, as amended by instrument recorded under Harris County Clerk's File Number J170695, over and across the following described property: 

All
that certain 58,228 square feet for roadway easement out of the James Wharton Survey, A-871 and being all that certain tract described in the instrument recorded in Volume 3476, Page
381 of the Harris County Deed Records, as amended by the instrument recorded in the Official Public Records of 

A-1-43

 

Real
Property of Harris County, Texas at Clerk's File No. J170695, Film Code No. 060-96-0542 and being more particularly described by metes and bounds as follows: 

BEGINNING
at a point in the East line of Silber Road which lies N 00 deg. 30 min. 00 sec. E—2506.30 feet from the Southwest corner of Cameron Iron Works 100 acre tract, which is the
intersection of the East line of Silber Road and the North line of the M.K. & T.R.R. right-of-way; 

THENCE,
S 88 deg. 28 min. 00 sec. E—970.73 feet to a point for corner; 

THENCE,
N 00 deg. 21 min. 30 sec. E—60.00 feet to a point for corner; 

THENCE,
N 88 deg. 28 min. 00 sec. W—970.59 feet to a point for corner; 

THENCE,
S 00 deg. 30 min. 00 sec. W—60.00 feet to the POINT OF BEGINNING and containing 58,228 square feet of land, more or less. 

A-1-44

 

Group
I

Site No. 27

12505 Reed Road

505-25 Julie Rivers Drive 

SITE
18 

TRACT
1: 

All
that certain 11.20 acres of land, being comprised of the 1.7985 acre tract and the 6.7641 acre tract described in the deed from Sugarland Properties, Inc. to Hines Industrial, Ltd.,
recorded under Volume 972, Page 568, in the Deed Records of Fort Bend County, Texas and the 2.6380 acre tract described in the deed from Sugarland Properties, Inc. to Hines
Industrial, Ltd. recorded under Volume 1121, Page 348 in the Deed Records of Fort Bend County, Texas, in the Brown & Belknap League, A-15, Fort Bend County, Texas, and being
more particularly described by metes and bounds as follows: (All bearings based on the record bearing of North 88 deg. 26 min. 49 sec. East along the North line of the 150.00 acre tract recorded under
Volume 724, Page 876, in the Deed Records of Fort Bend County, Texas) 

COMMENCING
at the intersection of the centerline of Corporate Drive (100' R.O.W.) with the centerline of Julie Rivers Drive (80' R.O.W.) according to the Street Dedication Plat recorded under Volume
26, Page 11, in the Plat Records of Fort Bend County, Texas; 

THENCE,
South 01 deg. 33 min. 11 sec. East—5.96 feet, along said centerline of Julie Rivers Drive, to an angle corner; 

THENCE,
South 88 deg. 25 min. 49 sec. West—40.00 feet to an "X" found in concrete for the Southeast corner and POINT OF BEGINNING of the herein described tract, common to the Southeast
corner of 1.7985 acre tract in the West right-of-way line of said Julie Rivers Drive; 

THENCE,
South 88 deg. 26 min. 49 sec. West—603.20 feet, along the North lines of said 1.7985 acre tract and the aforesaid 6.7641 acre tract, to an "X" found in concrete for the Southwest
corner of the herein described tract, common to the Southwest corner of said 6.7641 acre tract; 

THENCE,
North 01 deg. 33 min. 11 sec. West—952.00 feet, along the West line of said 6.7641 acre tract, to a 5/8 inch iron rod found for the Northwest corner of the herein
described tract, in the South right-of-way line of Reed Road (100' R.O.W.); 

THENCE,
North 88 deg. 26 min. 49 sec. East—309.50 feet, along said South right-of-way line, to a 5/8 inch iron rod found for the most Northerly
Northeast corner of the herein described tract, common to the Northeast corner of said 6.7641 acre tract; 

THENCE,
South 01 deg. 33 min. 11 sec. East—294.00 feet, along the East line of said 6.7641 acre tract, to a 60d nail found for an interior corner of the herein described tract, common to
the Northwest corner of aforesaid 2.6380 acre tract; 

THENCE,
North 88 deg. 26 min. 49 sec. East—293.70 feet, along the North line of said 2.6380 acre tract, to an "X" found in concrete for the most Easterly Northeast corner of the herein
described tract, common to the Northeast corner of said 2.6380 acre tract in the West right-of-way line of aforesaid Julie Rivers Drive; 

THENCE,
South 01 deg. 33 min. 11 sec. East—658.00 feet, along said West right-of-way line to the POINT OF BEGINNING of the herein described tract and containing
11.20 acres of land. 

TRACT
2: 

NON-EXCLUSIVE
EASEMENT rights by and between Probity I-87, Ltd., and Sugarland Properties Incorporated under that certain Driveway Agreement dated July 3, 1992,
recorded in Volume 2428, Page 1939, Official Records of Fort Bend County, 

A-1-45

 

Group
I

Site No. 28

3435 & 3445 Breckinridge Boulevard

NBU 020402050 

TRACT
1: 

All
that tract or parcel of land lying and being in Land Lot 207 of the 6th District of Gwinnett County, Georgia, and being more particularly described as follows: 

Commencing
at a pk nail set at the centerline intersection of Breckinridge Boulevard (having a 100 foot right-of-way) and Centerview Drive; 

THENCE
westerly along the centerline of Breckinridge Boulevard the following courses and distances: 

THENCE
along a curve to the right having a radius of 1888.76 feet and an arc length of 321.52 feet, being subtended by a chord of South 55 degrees 22 minutes 21 seconds West for a distance of 321.13
feet to a pk nail set; 

THENCE
South 57 degrees 30 minutes 11 seconds West for a distance of 28.54 feet to a pk nail set; 

THENCE
North 29 degrees 41 minutes 56 seconds West for a distance of 50.00 feet leaving the centerline of Breckinridge Boulevard to a 1/2" rebar found on the northerly
right-of-way line of said road, said rebar being the POINT OF BEGINNING; 

THENCE
North 29 degrees 41 minutes 56 seconds West for a distance of 891.20 feet leaving the northerly right-of-way line of Breckinridge Boulevard to a
1/2" rebar found on the southerly right-of-way line of Interstate 85 (having a variable right-of-way); 

THENCE
along the southerly right-of-way line of Interstate 85 North 59 degrees 10 minutes 36 seconds East for a distance of 714.86 feet to a 1/2"
rebar set; 

THENCE
South 30 degrees 49 minutes 20 seconds East leaving the southerly right-of-way line of Interstate 85 for a distance of 472.50 feet to a 1/2"
rebar set; 

THENCE
South 49 degrees 28 minutes 05 seconds East for a distance of 269.71 feet to a 1/2" rebar found on the northerly right-of-way line of
Breckinridge Boulevard; 

THENCE
along the northerly right-of-way line of Breckinridge Boulevard along a curve to the right having a radius of 1838.76 feet and an arc length of 813.17 feet, being
subtended by a chord of South 47 degrees 34 minutes 48 seconds West for a distance of 806.56 feet to a pk nail set; 

THENCE
South 57 degrees 30 minutes 11 seconds West for a distance of 28.49 feet to THE POINT OF BEGINNING. 

Said
property contains 14.445 acres more or less. 

LESS
AND EXCEPT that area conveyed to Gwinnett County by Deed dated May 27, 1999, recorded in Deed Book 18531, Page 75, Gwinnett County records. 

A-1-46

   EXHIBIT B  

List of Tenant Leases  

	Folder Structure—

Portfolio\City\Property
 
	 	Tenant

Name
	 	Original

Lease
	 	First

Amendment

to Lease
	 	Second

Amendment

to Lease
	 	Third

Amendment

to Lease
	 	Fourth

Amendment

to Lease
	 	Fifth

Amendment

to Lease
	 	Sixth

Amendment

to Lease
	 	Seventh

Amendment

to Lease

	Leases	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Atlanta\1075 &

1150 Cobb Intl Place NW	 	Laser Xpedited

Transportation Inc	 	August 1,

2002	 	February 25,

2003	 	 	 	 	 	 	 	 	 	 	 	 
	National\Atlanta\1075 &

1150 Cobb Intl Place NW	 	Fumex Inc	 	May 13,

2004	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Atlanta\1075 &

1150 Cobb Intl Place NW	 	Southern Book

Company	 	August 13,

2001	 	July 1,

2004	 	 	 	 	 	 	 	 	 	 	 	 
	National\Atlanta\1075 &

1150 Cobb Intl Place NW	 	Opella Inc	 	February 25,

2003	 	June 1,

2004	 	 	 	 	 	 	 	 	 	 	 	 
	National\Atlanta\1075 &

1150 Cobb Intl Place NW	 	The Climatic

Corporation	 	July 31,

2001	 	June 24,

2004	 	 	 	 	 	 	 	 	 	 	 	 
	National\Atlanta\1075 &

1150 Cobb Intl Place NW	 	Therm All Inc	 	August 14,

1997	 	N/A the first

amendment

is the

second

amendment	 	October 31,

2002	 	 	 	 	 	 	 	 	 	 
	National\Atlanta\

1700 Westgate Parkway	 	General Electric

Company 002	 	May 6,

1988	 	July 26,

1988	 	December 31,

1997	 	August 5,

2002	 	May 13,

2004	 	 	 	 	 	 
	National\Atlanta\3435 &

3445 Breckinridge Rd	 	OSI Portfolio

Services LP	 	January 11,

2001	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Atlanta\3435 &

3445 Breckinridge Rd	 	Southeast Camera & Video Repair

inc—Camera

Repair Japan

Company	 	September 30,

1999	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Atlanta\3435 &

3445 Breckinridge Rd	 	Touch Activated

Products LP	 	February 11,

2000	 	May 30,

2000	 	 	 	 	 	 	 	 	 	 	 	 
	National\Atlanta\3435 &

3445 Breckinridge Rd	 	Peachtree Software Inc	 	October 28,

1999	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Atlanta\3435 &

3445 Breckinridge Rd	 	Kilpatrick Turf

Equipment Inc	 	February 25,

2003	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Atlanta\3435 &

3445 Breckinridge Rd	 	Walong Marketing Inc	 	April 17,

2003	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Atlanta\3435 &

3445 Breckinridge Rd	 	Alternative

Mailing & Shipping

Systems Inc	 	September 12,

1999	 	December 23,

1999	 	 	 	 	 	 	 	 	 	 	 	 
	National\Atlanta\3435 &

3445 Breckinridge Rd	 	Globe Communications Inc	 	August 11,

2000	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Atlanta\

4125 Buford HWY	 	Logistics International Inc	 	August 30,

2002	 	 	 	 	 	 	 	 	 	 	 	 	 	 

B-1-1

 

	National\Atlanta\

4125 Buford HWY	 	National Gypsum

of Georgia LP	 	August 15,

1994	 	October 16,

1995	 	December 23,

1998	 	December 20,

1999	 	 	 	 	 	 	 	 
	National\Atlanta\

4125 Buford HWY	 	Rock Tenn

Converting Company	 	April 24,

1995	 	March 10,

1998	 	March 5,

2003	 	 	 	 	 	 	 	 	 	 
	National\Atlanta\

4300 Westpark

Drive SW	 	Fastforms Inc	 	November 25,

2003	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Atlanta\5925 &

5945 Cabot Parkway	 	Cambria Fabshop Inc	 	June 10,

2002	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Atlanta\5925 &

5945 Cabot Parkway	 	Ecompany Store	 	December 31,

1999	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Atlanta\5925 &

5945 Cabot Parkway	 	Ciena Corporation	 	November 14,

2000	 	March 29,

2001	 	May 8,

2003	 	 	 	 	 	 	 	 	 	 
	National\Atlanta\5925 &

5945 Cabot Parkway	 	Ciena Corporation	 	May 1,

2001	 	GROUND

LEASE	 	 	 	 	 	 	 	 	 	 	 	 
	National\Boston\14 &

16 Progress Road	 	RR Donnelley &

Sons Company	 	September 12,

2002	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Boston\14 &

16 Progress Road	 	Harman Specialty

Group	 	June 10,

2003	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Boston\14 &

16 Progress Road	 	Boise Cascade	 	March 30,

1989	 	February 14,

1991	 	August 30,

1995	 	March 4,

1997	 	February 3,

2000	 	January 7,

2003	 	 	 	 
	National\Boston\14 &

16 Progress Road	 	QPL Electronic

Distributors	 	September 24,

1992	 	November 10,

1995	 	Forthcoming	 	 	 	 	 	 	 	 	 	 
	National\Boston\14 &

16 Progress Road	 	GSI Lumonics	 	March 27,

2002	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Boston\14 &

16 Progress Road	 	Amarr Company	 	March 19,

2004	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Boston\

19 Technology Drive	 	Parker-Hannifin

Corporation	 	April 1,

2002	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Boston\

19 Technology Drive	 	J.R. Simplot	 	September 10,

2003	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Boston\

65 Sunny

Slope Avenue	 	Eastern Bag &

Paper Company	 	May 6,

1997	 	December 4,

2001	 	 	 	 	 	 	 	 	 	 	 	 
	National\Boston\

65 Sunny

Slope Avenue	 	McKesson General

Medical Corp.	 	December 23,

1988	 	Forthcoming	 	December 17,

1998	 	March 29,

2002	 	 	 	 	 	 	 	 
	National\City\Phoenix\

1102 W Southern	 	Manufacturers

Floor Covering

Outlet Company	 	January 14,

1998	 	March 4,

1999	 	June 13,

2002	 	 	 	 	 	 	 	 	 	 
	National\City\Phoenix\

1102 W Southern	 	NVI Manufacturing Inc	 	April 1,

2000	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\City\Phoenix\

1102 W Southern	 	Carmel Community School	 	June 1,

2004	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\City\Phoenix\

1219 W Geneva	 	Marsoner Inc	 	November 8,

1999	 	 	 	 	 	 	 	 	 	 	 	 	 	 

B-1-2

 

	1233 W. Geneva	 	Petty Windows

(Not on Disk)	 	March 9,

2004	 	June 16,

2004	 	 	 	 	 	 	 	 	 	 	 	 
	National\City\Phoenix\

645 W 24th	 	Loomis Fargo

and Co	 	December 20,

1996	 	January 28,

1997	 	 	 	 	 	 	 	 	 	 	 	 
	National\City\Phoenix\

645 W 24th	 	Loomis Fargo

and Co	 	April 13,

2004	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\City\Phoenix\

849 W 24th	 	Loomis Fargo

and Co	 	December 4,

2003	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\City\Phoenix\

E Watkins	 	Laboratory Corporation

of America	 	July 28,

1998	 	August 12,

1999	 	 	 	 	 	 	 	 	 	 	 	 
	National\City\Phoenix\

E Watkins	 	Nextlink Arizona Inc— XO Arizona,

Inc.	 	November 1,

1998	 	May 14,

1999	 	 	 	 	 	 	 	 	 	 	 	 
	National\City\Phoenix\

E Watkins	 	Expeditors

International

of Washington Inc	 	September 15,

1998	 	May 25,

1999	 	 	 	 	 	 	 	 	 	 	 	 
	National\City\Phoenix\

N 103rd Ave	 	PFX Pet Supply Inc	 	January 21,

2003	 	January 23,

2003	 	 	 	 	 	 	 	 	 	 	 	 
	National\City\Phoenix\

N 104th Ave	 	Simmons Company	 	March 12,

1997	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\City\Phoenix\

N 104th Ave	 	Genco I Inc	 	November 10,

1997	 	August 16,

2002	 	 	 	 	 	 	 	 	 	 	 	 
	National\City\Phoenix\

N 104th Ave	 	Continental Pet

Technologies Inc	 	January 15,

2002	 	November 7,

2002	 	January 29,

2003	 	 	 	 	 	 	 	 	 	 
	National\City\Phoenix\

S 39th Ave	 	Rykoff-Sexton Inc	 	April 15,

1992	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\City\Phoenix\

S 39th Ave	 	PHD Manufacturing Inc	 	January 11,

1993	 	July 1,

1999	 	July 29,

2003	 	 	 	 	 	 	 	 	 	 
	National\City\Phoenix\

S 40th Ave	 	Revlon Inc	 	April 1,

1992	 	April 1,

1992	 	December 20,

1996	 	July 20,

1998	 	June 15,

2004	 	 	 	 	 	 
	National\City\Phoenix\

S 40th Ave	 	Ultra Health

Products Inc	 	February 25,

2003	 	January 12,

2004	 	 	 	 	 	 	 	 	 	 	 	 
	S 40th Ave	 	Ultra Health

Products Inc

Assignment of

Lease—APANI

(Not on Disks)	 	May 11,

2004	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\City\Phoenix\

S 63rd Ave	 	Office Depot Inc	 	July 7,

1993	 	February 28,

1994	 	June 25,

1996	 	November 1,

1999	 	October 31,

2003	 	 	 	 	 	 
	National\Dallas\

11839 Shiloh	 	RHE Hatco, Inc	 	April 13,

2004	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

11910 Shiloh

Perimeter II	 	TRP International Inc	 	August 17,

2000	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

11910 Shiloh

Perimeter II	 	Southwestern Bell

Telephone Company	 	October 5,

2000	 	 	 	 	 	 	 	 	 	 	 	 	 	 

B-1-3

 

	National\Dallas\

11910 Shiloh

Perimeter II	 	Semi Chem Inc	 	November 26,

2002	 	January 15,

2003	 	August 11,

2003	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

11910 Shiloh

Perimeter II	 	RCB Distributing Inc	 	January 2,

2001	 	September 22,

2003	 	March 17,

2004	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

11910 Shiloh

Perimeter II	 	Environmental Inks and Coatings Corp	 	October 3,

2002	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

12555 & 12623 Perimeter

Dr	 	KWP Enterprises Inc	 	February 13,

2004	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

12555 & 12623 Perimeter

Dr	 	Galvacer America Inc	 	November 3,

2003	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

12555 & 12623 Perimeter

Dr	 	EOI EN Ovations Inc	 	October 11,

2002	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

12555 & 12623 Perimeter

Dr	 	Autronic Plastics Inc	 	April 25,

2002	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

1302 Ave R	 	WA Butler Company	 	September 18,

1989	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

1475-1555 Ave S	 	PI Systems LLC	 	November 13,

2003	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

1475-1555 Ave S	 	Carolina Glove Company	 	February 25,

2002	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

1475-1555 Ave S	 	Kelly Direct Inc	 	February 20,

2003	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

1475-1555 Ave S	 	Western Waterproofing

Company of America	 	March 27,

2003	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

1475-1555 Ave S	 	Swift Consulting Inc	 	April 11,

2003	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

1475-1555 Ave S	 	Performance

Home Medical

Equipment Inc	 	November 7,

2002	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

1475-1555 Ave S	 	Konica Photo

Imaging Inc.	 	May 29,

2002	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

1475-1555 Ave S	 	Mainstreet

Intergration

Services &

Consulting	 	April 4,

2003	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

2635 & 2737 Market	 	Twin Med Inc	 	October 6,

1999	 	October 20,

1999	 	November 1,

2002	 	December 11,

2002	 	January 20,

2003	 	 	 	 	 	 
	National\Dallas\

2635 & 2737 Market	 	ABCA Group Inc	 	March 3,

2003	 	 	 	 	 	 	 	 	 	 	 	 	 	 

B-1-4

 

	National\Dallas\

2635 & 2737 Market	 	Metrostar General

Contractors Inc	 	June 26,

2001	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

2635 & 2737 Market	 	HD International

Tractor Inc	 	April 22,

2002	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

2635 & 2737 Market	 	Mustang Glass Inc	 	July 25,

2002	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

2635 & 2737 Market	 	Dallas Wiping

Materials Inc 002	 	April 27,

2001	 	April 27,

2004	 	 	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

2635 & 2737 Market	 	Scent Shop	 	October 22,

2001	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

2635 & 2737 Market	 	North American

Composites Company	 	August 10,

2000	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

2745-2875 Market	 	Customform

Transportation

Systems Inc	 	March 8,

2001	 	July 24,

2002	 	 	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

2745-2875 Market	 	Lone Star

Plastics Inc

(Graevel Dallas Movers)	 	November 28,

2001	 	April 22,

2003	 	 	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

2745-2875 Market	 	Southwest Stainless LP	 	September 10,

2002	 	December 3,

2002	 	 	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

2745-2875 Market	 	POPST

Manufacturing

Corporation	 	November 16,

1995	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

601-609 Avenue R	 	DAWES Transportation Inc	 	October 31,

2002	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

601-609 Avenue R	 	Unifast Inc	 	December 22,

2003	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Dallas\

West Fork Center	 	Coast Chemical Inc	 	March 4,

2004	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Houston\

1246-1270 Silbur	 	Advance Excelsior Inc	 	February 1,

1997	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Houston\

1246-1270 Silbur	 	Jimenze Contact

Services Inc	 	October 22,

2002	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Houston\

12603-12613 Executive Drive	 	Eagle One

Logistics Inc	 	September 25,

2003	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Houston\

12603-12613 Executive Drive	 	Ritaco International Inc	 	February 4,

2000	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Houston\

12603-12613 Executive Drive	 	World Express Cargo Inc	 	July 27,

2001	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Houston\

12603-12613 Executive Drive	 	Direct Home

Care Supply LLC	 	January 22,

2003	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Houston\

12603-12613 Executive Drive	 	RJS Companies Inc	 	November 6,

1997	 	July 18,

2002	 	 	 	 	 	 	 	 	 	 	 	 

B-1-5

 

	National\Houston\

12603-12613 Executive Drive	 	American Tile

Supply Inc	 	April 30,

1995	 	July 1,

2000	 	July 1,

2003	 	 	 	 	 	 	 	 	 	 
	National\Houston\

12603-12613 Executive Drive	 	Whitehill

Manufacturing Inc	 	July 15,

1996	 	September 3,

1999	 	September 1,

2000	 	June 21,

2001	 	August 19,

2002	 	 	 	 	 	 
	National\Houston\

4000 Greenbriar	 	Labarge STC Inc	 	November 12,

2002	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	4000 Greenbriar	 	Tadiran Microwave

Networks Inc

(Not on Disk)	 	November 1,

1995	 	January 31,

2002	 	 	 	 	 	 	 	 	 	 	 	 
	National\Houston\

4000 Greenbriar	 	California Microwave—

Microwave Network

Systems Inc	 	November 1,

1995	 	January 31,

2002	 	 	 	 	 	 	 	 	 	 	 	 
	National\Houston\

7215 Wynwood	 	FulfillPlus Inc	 	January 30,

2002	 	January 31,

2003	 	November 4,

2003	 	 	 	 	 	 	 	 	 	 
	National\Houston\

7215 Wynwood	 	XL Parts Inc	 	June 29,

2001	 	September 17,

2001	 	 	 	 	 	 	 	 	 	 	 	 
	National\Houston\

7215 Wynwood	 	Designer Stone

Center Inc	 	June 29,

2001	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Houston\

7240-7260 Wynnpark	 	Liftex Inc	 	September 1,

1989	 	July 29,

1993	 	July 17,

1998	 	December 20,

1999	 	August 9,

2002	 	 	 	 	 	 
	National\Houston\

7240-7260 Wynnpark	 	Dimensional

Stone Supply

Inc	 	March 29,

2002	 	December 8,

2003	 	 	 	 	 	 	 	 	 	 	 	 
	National\Houston\

7240-7260 Wynnpark	 	Advanced Glass Block	 	December 13,

1999	 	December 14,

2000	 	April 30,

2002	 	August 15,

2003	 	 	 	 	 	 	 	 
	National\Houston\

7240-7260 Wynnpark	 	Senox Corporation	 	September 14,

2000	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Houston\Reed

Rd & 505 & 525 Julie

Rivers Dr	 	Servomex Company Inc	 	May 23,

2002	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Houston\Reed

Rd & 505 & 525 Julie

Rivers Dr	 	Provident Engineering Inc	 	June 6,

2003	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Reed Rd & 505 &

525 Julie Rivers Dr	 	Thomas Ambulance

Service Inc

(Not on Disk)	 	February 11,

2004	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Houston\Reed

Rd & 505 & 525 Julie

Rivers Dr	 	Draeger Safety Inc	 	October 2,

2002	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Houston\Reed

Rd & 505 & 525 Julie

Rivers Dr	 	Professional

Golf Ball

Services LTD	 	September 28,

2003	 	February 25,

2004	 	 	 	 	 	 	 	 	 	 	 	 
	National\Houston\Reed

Rd & 505 & 525 Julie

Rivers Dr	 	The Rental

Solution Inc	 	September 24,

2003	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Houston\Reed

Rd & 505 & 525 Julie

Rivers Dr	 	LS Motorsports LLC	 	December 9,

2003	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Houston\Reed

Rd & 505 & 525 Julie

Rivers Dr	 	Sermatech International Inc.	 	May 10,

1982	 	May 31,

1983	 	June 11,

1985	 	January 4,

1990	 	July 10,

1995	 	September 27,

2000	 	June 12,

2002	 	 

B-1-6

 

	National\Houston\Reed

Rd & 505 & 525 Julie

Rivers Dr	 	Linda Vista

Furniture	 	October 10,

2002	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Houston\Reed

Rd & 505 & 525 Julie

Rivers Dr	 	United Rentals Inc	 	July 13,

1999	 	May 12,

2004	 	 	 	 	 	 	 	 	 	 	 	 
	National\Houston\Reed

Rd & 505 & 525 Julie

Rivers Dr	 	Quest Design

and Product Ltd	 	October 24,

2002	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\Houston\Reed

Rd & 505 & 525 Julie

Rivers Dr	 	The Quest Corporation	 	February 18,

1999	 	January 1,

2000	 	June 14,

2001	 	 	 	 	 	 	 	 	 	 
	National\San Francisco\

Cherry Street	 	Accurate Moulding

and Millwork	 	December 17,

2002	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\San Francisco\

Cherry Street	 	Economic Packaging

Corporation	 	May 4,

2001	 	June 11,

2001	 	 	 	 	 	 	 	 	 	 	 	 
	Cherry Street	 	Economic Packaging

Corporation Lease

Term (Not

on Disks)	 	June 1,

2004	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Cherry Street	 	Economic Packaging

Corporation New

Lease (Not

on Disk)	 	June 1,

2004	 	June 18,

2004	 	 	 	 	 	 	 	 	 	 	 	 
	National\San Francisco\

Cherry Street	 	Innovated Pack'g Co Inc &

Integrated

Pack'g & Crating

Srvcs Inc	 	April 1,

1991	 	March 26,

1996	 	April 8,

1998	 	October 29,

2003	 	April 8,

2004	 	 	 	 	 	 
	National\San Francisco\

Cherry Street	 	Metropolitan Life

Insurance Company	 	August 3,

1998	 	September 8,

1998	 	April 24,

2000	 	August 16,

2001	 	 	 	 	 	 	 	 
	Cherry Street	 	Metropolitan Life

Insurance Company

(Not on Disk)	 	 	 	 	 	 	 	 	 	May 14,

2004	 	 	 	 	 	 
	National\San Francisco\

Cherry Street	 	Midland Manufacturing

Corporation	 	December 23,

2003	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\San Francisco\

Cherry Street	 	Specialized Packaging

Solutions Inc	 	October 29,

2003	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\San Francisco\

Cherry Street	 	ELO Touchsystems	 	June 26,

2000	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\San Francisco\

Cherry Street	 	Engineered Handling

Products	 	September 19,

1990	 	February 12,

1996	 	March 15,

2001	 	March 1,

2003	 	 	 	 	 	 	 	 
	National\San Francisco\

Cherry Street	 	Isis Foods Inc	 	March 1,

2002	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\San Francisco\

Cherry Street	 	Whirlpool Corporation	 	August 4,

1999	 	July 21,

1999	 	Forthcoming	 	July 21,

1999	 	August 22,

2000	 	 	 	 	 	 
	National\San Francisco\

Cherry Street	 	Vincent M Montesinos	 	April 7,

2003	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Cherry Street	 	Vincent M Montesinos

(Not on Disk)	 	July 1,

2004	 	 	 	 	 	 	 	 	 	 	 	 	 	 

B-1-7

 

	National\San Francisco\

Cherry Street	 	US China

International

Commerce Development Inc	 	May 7,

2004	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\San Francisco\

Corporate Avenue	 	Kulicke & Soffa

Industries Inc	 	April 1,

2002	 	May 28,

2004	 	 	 	 	 	 	 	 	 	 	 	 
	National\San Francisco\

Corporate Place	 	Multiple Allied

Services	 	June 18,

1998	 	March 23,

2000	 	 	 	 	 	 	 	 	 	 	 	 
	National\San Francisco\

Corporate Place	 	OpticNet Inc	 	September 20,

2000	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	National\San Francisco\

Corporate Place	 	Airlink Communications Inc	 	September 23,

2003	 	November 10,

2003	 	 	 	 	 	 	 	 	 	 	 	 
	National\San Francisco\

Huntwood	 	Neopost Leasing Inc	 	March 3,

1982	 	May 1,

1989	 	October 1,

1996	 	 	 	 	 	 	 	 	 	 

B-1-8

  

 
 

EXHIBIT C
  
  
  Deed
  
  
  GEORGIA FORM

After Recording, Return to:  

 
 

LIMITED WARRANTY DEED

STATE OF _______________  

COUNTY OF ______________  

        THIS INDENTURE, made this            day of MONTH OF CLOSING, 2004,
between                        (herein called
"Grantor") and ASSIGNEE NAME, ASSIGNEE ENTITY (herein called "Grantee"). 

        WITNESSETH:    That Grantor, for and in consideration of the sum of Ten Dollars ($10.00) and other good and valuable
consideration, in hand paid at and before the sealing and delivery of these presents, the receipt and sufficiency of which are hereby acknowledged, has granted, bargained, sold, aliened, conveyed and
confirmed and by these presents does grant, bargain, sell, alien, convey and confirm unto Grantee all that tract or parcel of land described on  Exhibit A, attached hereto and made a part hereof.

        TO HAVE AND TO HOLD the said bargained premises, together with all and singular the rights, members and appurtenances thereof, to the same
being, belonging or in any wise appertaining, to the only proper use, benefit and behoof of Grantee, forever, IN FEE SIMPLE. 

        This
Deed and the warranty of title contained herein are made expressly subject to the items set forth on Exhibit B attached hereto
and made a part hereof, without expanding the limited warranty of title contained herein. 

        Grantor
will warrant and forever defend the right and title to the above described property unto Grantee against the lawful claims of all persons owning, holding or claiming by, through
or under Grantor, but not otherwise. 

        (The
words "Grantor" and "Grantee" include all genders, plural and singular, and their respective heirs, successors and assigns where the context requires or permits.) 

        IN WITNESS WHEREOF, Grantor has signed and sealed this deed, the day and year first above written. 

	Signed, sealed and delivered

in the presence of:	 	  

	

 	
 	

By:	

 
	 	 	 	 	Name:

Title:
	

Unofficial Witness	
 	

 	

 
	

Notary Public	
 	

 	

 
	___________________ (NOTARY SEAL)	 	 	 
	

My Commission Expires:	
 	

 	

 

C-1

  

 
 

EXHIBIT A
  
    Legal Description    
    

A-1

  

 
 

EXHIBIT B    
    

	(I)
	INTERESTS
OF TENANTS IN POSSESSION UNDER LEASES;

	(II)
	MATTERS
CREATED BY, OR WITH THE WRITTEN CONSENT OF, GRANTEE;

	(III)
	NON-DELINQUENT
LIENS FOR REAL ESTATE TAXES AND ASSESSMENTS; AND

	(IV)
	ANY
EXCEPTIONS TO TITLE DISCLOSED BY THE PUBLIC RECORDS OR WHICH WOULD BE DISCLOSED BY AN INSPECTION AND/OR SURVEY OF THE PROPERTY. 

C-1

  

 
 

ARIZONA DEED EXHIBIT    
    

	Recorded at the request of:	 	 
	

	
 	

 
	

	
 	

 
	

	
 	

 
	

When recorded, mail to:	
 	

 
	

	
 	

 
	

	
 	

 
	

	
 	

 

Order
No.: 

 
 

Special Warranty Deed    
    

For
the consideration of Ten Dollars, and other valuable consideration, I or we,                        do hereby convey
to            the following real property located
in                        County,
Arizona: 

See
Exhibit "A" attached hereto. 

Without
expanding by implication the limited nature of this warranty, this Deed and the warranty of title contained herein are made expressly subject to the list of title exceptions set forth on  Exhibit B
attached hereto and made a part hereof and the Grantor hereby binds itself to warrant and defend the title as against all acts of the
Grantor herein and no other. 

	Dated:	 	 	 
	 	 	
	 	 

GRANTOR:

GRANTOR
ENTITY 

	

By:	
 	

 	

 
	 	 	
	 

	

Name:	
 	

 	
 	

 
	 	 	 	
	 	 
	

Title:	
 	

 	
 	

 
	 	 	 	
	 	 

	

State of	
 	

 	
 	

 	

 
	 	 	 	
	 	 	 
	

County of	
 	

 	
 	

Date of Acknowledgment	

 
	 	 	 	
	 	 	

	

Acknowledgment of	

 	
 	

 
	 	 	
	 	 

This
instrument was acknowledged before me this date by the persons above-subscribed and if subscribed in a representative capacity, then for the principal named and in the capacity indicated. 

	

 	
 	

 Notary Public

	
 	

 

My
commission expires: 

NOTE:
The parties are cautioned that by completing and executing this document, legal rights, duties and obligations are created. By signing, the parties acknowledge that they have been advised to
seek and obtain independent legal counsel as to all matters contained in the within document prior to signing same and that said parties have obtained advice or choose to proceed without same. 

C-1

 
 
 

EXHIBIT A to Arizona Deed
  Legal Description    
    

C-2

 
 
 

EXHIBIT B to Arizona Deed
  Permitted Exceptions

	(I)
	INTERESTS
OF TENANTS IN POSSESSION UNDER LEASES;

	(II)
	MATTERS
CREATED BY, OR WITH THE WRITTEN CONSENT OF, GRANTEE;

	(III)
	NON-DELINQUENT
LIENS FOR REAL ESTATE TAXES AND ASSESSMENTS; AND

	(IV)
	ANY
EXCEPTIONS TO TITLE DISCLOSED BY THE PUBLIC RECORDS OR WHICH WOULD BE DISCLOSED BY AN INSPECTION AND/OR SURVEY OF THE PROPERTY. 

C-3

  

 
 

CALIFORNIA FORM
  
  
  Deed    
    

RECORDING
REQUESTED BY AND

WHEN RECORDED MAIL TO: 

	

	
 	

 	
 	

 
	

	
 	

 	
 	

 
	

	
 	

 	
 	

 
	

Attn:	
 	

 	
 	

 	
 	

 
	 	 	 	
	 	 	 	 
	

(Space above this line for Recorder's use only)

[In
accordance with Section 11932 of the California Revenue and Taxation Code, Grantor has delivered the amount of transfer for which is due by Separate Statement which is not being
recorded with this Grant Deed.] 

 
 

GRANT DEED

        FOR
A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, SELLERNAME, SELLERENTITY does hereby GRANT to ASSIGNEENAME, ASSIGNEEENTITY, its entire interest in that certain
Real Property in the City of PROJECTCITY, PROJECTCOUNTY, State of PROJECTSTATE, as more particularly described in Exhibit "A" attached hereto, together
with all rights, interests, privileges, easements and appurtenances thereto and all right, title and interest of Grantor in, to and under adjoining streets, rights of way and easements (the
"Property"). 

        Without
expanding by implication the limited nature of this warranty, this Deed and the warranty of title contained herein are made expressly SUBJECT TO: 

The
list of title exceptions set forth on Exhibit B attached hereto and made a part hereof 

	 	 	 	 	 	SELLER NAME, SELLER ENTITY
	Dated:	 	  
	,	 	 	 	 
	YEAR OF CLOSING	 	 	 	 	By:	 	 
	 	 	 	 	 	 	 	 	

	 	 	 	 	 	Name:	 	 
	 	 	 	 	 	 	 	 	

	 	 	 	 	 	 	Title:	 	 
	 	 	 	 	 	 	 	 	

	STATE OF	 	)	 	 	 	 
	

 	
 	

)	
 	

ss.	
 	

 
	

COUNTY OF	
 	

)	
 	

 	
 	

 

        On                        YEAR
OF CLOSING, before me,                        , Notary Public, personally
appeared                        personally known to me (or proved to me on the basis of satisfactory
evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by
his/her/their signature(s) on the instrument the person(s) or the entity upon behalf of which the person(s) acted, executed the instrument. 

C-1

 

        Witness
my hand and official seal. 

	 	 	
 Notary Public
	

[SEAL]	
 	

 
	

MAIL TAX STATEMENTS AS DIRECTED TO:	
 	

 
	

	
 	

 
	

	
 	

 
	

	
 	

 
	

	
 	

 

C-2

  

 
 

EXHIBIT "A" to California Deed
  
    Legal Description    
    

C-1

 
 
 

EXHIBIT "B" to California Deed
  
    Permitted Title Exceptions    
    

	(I)
	INTERESTS
OF TENANTS IN POSSESSION UNDER LEASES;

	(II)
	MATTERS
CREATED BY, OR WITH THE WRITTEN CONSENT OF, GRANTEE;

	(III)
	NON-DELINQUENT
LIENS FOR REAL ESTATE TAXES AND ASSESSMENTS; AND

	(IV)
	ANY
EXCEPTIONS TO TITLE DISCLOSED BY THE PUBLIC RECORDS OR WHICH WOULD BE DISCLOSED BY AN INSPECTION AND/OR SURVEY OF THE PROPERTY. 

C-2

  

 
 

MASSACHUSETTS CORPORATE WARRANTY DEED EXHIBIT    
    

Prepared by and upon

recording return to:

	

	
 	

 
	

	
 	

 
	

	
 	

 

 
 

WARRANTY DEED
  [BY CORPORATION]    

        KNOW ALL PERSONS BY THESE PRESENTS That,                        ,
a                        ("Grantor"), whose mailing address
is                        ,
 

        For
consideration paid, and in full consideration of                        - Dollars
($                        ) 

        Grants
to                        ,
a                        ("Grantee"), whose mailing address
is                        ,
 

 with QUITCLAIM COVENANTS  

the
land described in Exhibit "A", and without expanding by implication the limited nature of this warranty, this Deed and the warranty of title
contained herein are made expressly subject to the list of title exceptions set forth on Exhibit B attached hereto and made a part hereof. 

        Being
the same property conveyed
to                        by                 
       deed
of                        dated                
        and recorded in the                        County Registry of Deeds at Book
            , page                        . 

        The
conveyance evidenced hereby is/is not a transfer of all nor substantially all of the assets of                        in
Massachusetts. 

C-1

 

        IN WITNESS WHEREOF, the Grantor has caused its corporate seal to be hereto affixed and these presents to be signed, acknowledged and
delivered in its name and behalf by                        ,
its                        , hereto duly authorized,
this            day of                        in the year 2004.

	

 	
 	

	

 	
 	

By:	

    

	 	 	 	Name:
	 	 	 	Its:
	

 	
 	

 	

              [CORPORATE SEAL]

 
 

The Commonwealth of Massachusetts    
    

                       ,
2004 

	COUNTY OF	  
	, ss	 

        On
this        day of                        , 2004, before, me
appeared                        , to me personally known, who, being by me duly sworn did say that he is the treasurer of said
corporation, and that the seal affixed to said instrument is the corporate seal of said corporation, and that said instrument was signed and sealed in behalf of said corporation by authority of its
board of directors, and                        acknowledged said instrument to be the free act and deed of said corporation.

	

 	
 	

	 	 	Notary Public
	 	 	Name:	    

	

 	
 	

My Commission expires                                   

C-2

  

 
 

EXHIBIT A to Massachusetts Deed
  
    Legal Description    

C-1

  

 
 

EXHIBIT B
  
    Permitted Exceptions    

	(I)
	INTERESTS
OF TENANTS IN POSSESSION UNDER LEASES;

	(II)
	MATTERS
CREATED BY, OR WITH THE WRITTEN CONSENT OF, GRANTEE;

	(III)
	NON-DELINQUENT
LIENS FOR REAL ESTATE TAXES AND ASSESSMENTS; AND

	(IV)
	ANY
EXCEPTIONS TO TITLE DISCLOSED BY THE PUBLIC RECORDS OR WHICH WOULD BE DISCLOSED BY AN INSPECTION AND/OR SURVEY OF THE PROPERTY. 

C-1

  

TEXAS SPECIAL WARRANTY DEED  

AFTER RECORDING RETURN TO: 

	

	
 	

 	
 	

 
	

	
 	

 	
 	

 
	

	
 	

 	
 	

 
	

	
 	

 	
 	

 

 
 

SPECIAL WARRANTY DEED    
    

	THE STATE OF TEXAS	§	 	 
	 	§	KNOW ALL MEN BY THESE PRESENTS:
	COUNTY OF PROJECT COUNTY	§	 

        THAT,
SELLER NAME, SELLER ENTITY ("Grantor"), for and in consideration of the sum of Ten and No/100 Dollars ($10.00) and other good and
valuable consideration in hand paid to Grantor by ASSIGNEE NAME, ASSIGNEE ENTITY ("Grantee"), whose mailing address
is                        ,
                        ,
Attention:                        , the receipt and sufficiency of such consideration being hereby acknowledged, has GRANTED, SOLD
AND CONVEYED, and by these presents does GRANT, SELL AND CONVEY unto Grantee
that certain real property being more particularly described in Exhibit A attached hereto and made a part hereof for all purposes, together with
all improvements, structures and fixtures situated thereon (collectively, the "Property"). 

        TO
HAVE AND TO HOLD the Property, together with all and singular the rights, interest, benefits, privileges, easements, tenements hereditaments and appurtenances thereon or appurtenant
thereto in anywise belonging, unto Grantee, its successors and assigns forever, and Grantor does hereby bind itself and its successors to WARRANT AND FOREVER DEFEND all and singular the Property, unto
Grantee, its successors and assigns, against every person whomsoever lawfully claiming, or claim the same, or any part thereof, by, through, or under Grantor, but not otherwise, subject to those title
matters listed on Exhibit B hereto. 

        Grantor
also conveys, without warranty all right, title and interest of Grantor in and to any alleys, strips or gores adjoining the
Property and any easements, rights of way or other interests in, on, under or to, any land, highway, street, road, right of way, open or proposed, in, on, under, across, in front of, abutting or
adjoining the Property. 

        Grantee,
by its acceptance hereof, hereby assumes payment of all standby charges, ad valorem real estate taxes and assessments with respect to the            calendar year and
subsequent calendar years not yet due and payable, each to the extent attributable to all or any portion of the Property. 

[the
remainder of this page is intentionally left blank] 

B-1

 

        IN
WITNESS WHEREOF, this instrument has been executed as of (but not necessarily on) this        day of                  ,
YEAR OF CLOSING. 

	 	 	GRANTOR:
	

 	
 	

SELLER NAME, SELLER ENTITY
	

 	
 	

 	

By:	

    

	 	 	 	Name:	    

	 	 	 	Its	    

B-2

  

 
 

EXHIBIT A
  
    LEGAL DESCRIPTION    

B-1

  

 
 

EXHIBIT B    

	(I)
	INTERESTS
OF TENANTS IN POSSESSION UNDER LEASES;

	(II)
	MATTERS
CREATED BY, OR WITH THE WRITTEN CONSENT OF, GRANTEE;

	(III)
	NON-DELINQUENT
LIENS FOR REAL ESTATE TAXES AND ASSESSMENTS; AND

	(IV)
	ANY
EXCEPTIONS TO TITLE DISCLOSED BY THE PUBLIC RECORDS OR WHICH WOULD BE DISCLOSED BY AN INSPECTION AND/OR SURVEY OF THE PROPERTY. 

B-1

  

 
 

EXHIBIT D
  
    Bill of Sale    
    

        This Bill of Sale (the "Bill of Sale") is made and entered into this    day of MONTH OF CLOSING, 2004,
by and between                        ("Assignor"), and ASSIGNEE NAME, ASSIGNEE
ENTITY ("Assignee"). 

        In
consideration of the sum of Ten Dollars ($10) and other good and valuable consideration paid by Assignee to Assignor, the receipt and sufficiency of which are hereby acknowledged,
Assignor does hereby assign, transfer, convey and deliver to Assignee, its successors and assigns, all items of Tangible Personal Property (as defined in the Agreement referred to below), if any,
owned by Assignor and situated upon and used exclusively in connection with the Real Property (as defined in the Agreement) and more particularly described on  Exhibit A attached hereto and
made a part hereof for all purposes, including, without limitation, the Tangible Personal Property identified in  Exhibit B, if any, attached hereto and made a part hereof for all purposes
(the "Personal
Property"). 

        This
Bill of Sale is made subject, subordinate and inferior to the easements, covenants and other matters and exceptions set forth on  Exhibit C, if any, attached hereto and made a part hereof for
all purposes. 

        Assignee
acknowledges and agrees that, except as expressly provided in, and subject to the limitations contained in, that certain Agreement of Purchase and Sale dated CONTRACTDATE, by
and between CABOT INDUSTRIAL VENTURE A, LLC, CABOT INDUSTRIAL VENTURE B, LLC, CW INDUSTRIAL VENTURE B, LLC, CW INDUSTRIAL VENTURE A TEXAS, L.P., and CW INDUSTRIAL VENTURE B TEXAS, L.P. and Dividend
Capital Operating Partnership LP (as amended, the "Agreement"), Assignor has not made, does not make and specifically disclaims any representations,
warranties, promises, covenants, agreements or guaranties of any kind or character whatsoever, whether express or implied, oral or written, past, present or future, of, as to, concerning or with
respect to (a) the nature, quality or conditions of the Personal Property, (b) the income to be derived from the Personal Property, (c) the suitability of the Personal Property
for any and all activities and uses which Assignee may conduct thereon, (d) the compliance of or by the Personal Property or its operation with any laws, rules, ordinances or regulations of any
applicable governmental authority or body, (e) the quality, habitability, merchantability or fitness for a particular purpose of any of the Personal Property, or (f) any other matter
with respect to the Personal Property. Assignee further acknowledges and agrees that, having been given the opportunity to inspect the Personal Property, Assignee is relying solely on its own
investigation of the Personal Property and not on any information provided or to be provided by Assignor, except as specifically provided in the Agreement. Assignee
further acknowledges and agrees that any information provided or to be provided with respect to the Personal Property was obtained from a variety of sources and that Assignor has not made any
independent investigation or verification of such information. Assignee further acknowledges and agrees that the sale of the Personal Property as provided for herein is made on an "as is, where is"
condition and basis "with all faults," except as specifically provided in, and subject to the limitations contained in, the Agreement. 

        The
obligations of Assignor are intended to be binding only on the property of Assignor and shall not be personally binding upon, nor shall any resort be had to, the private properties
of any Seller Related Parties (as defined in the Agreement). 

D-1

 

        IN
WITNESS WHEREOF, Assignor and Assignee have caused this Bill of Sale to be executed on the date and year first above written. 

	 	 	ASSIGNOR:
	

 	
 	

	

 	
 	

By:	

    

	 	 	Name:	    

	 	 	Its:	    

	

 	
 	
ASSIGNEE:
	

 	
 	

ASSIGNEE NAME, ASSIGNEE ENTITY
	

 	
 	

By:	

    

	 	 	Name:	    

	 	 	Its:	    

D-2

  

 
 

EXHIBIT E    
    
    Assignment of Leases, Service Contracts,
  Warranties and Other Intangible Property    
    

        This Assignment of Leases, Service Contracts, Warranties and Other Intangible Property (this "Assignment") is made
and entered into this    day of MONTH OF CLOSING, 2004, by and between                        ("Assignor"), ASSIGNEE NAME, ASSIGNEE ENTITY
("Assignee"). 

        For
good and valuable consideration paid by Assignee to Assignor, the receipt and sufficiency of which are hereby acknowledged, Assignor does hereby assign, transfer, set over and
deliver unto Assignee all of Assignor's right, title, and interest in and to the following (collectively, the "Assigned Items"): (i) those
certain leases (the "Leases") listed on Exhibit A attached hereto and made a part hereof for all
purposes except for Seller's right to collect delinquent rent and other delinquent sums owing under such Leases for the period prior to the date hereof in accordance with the Agreement (as defined
below), (ii) those certain service contracts, equipment leases, tenant improvement agreements and leasing agreements (the "Service Contracts")
listed on Exhibit B, if any, attached hereto and made a part hereof for all purposes, and (iii) those certain warranties held by Assignor
(the "Warranties") listed on Exhibit C, if any, attached hereto and made a part hereof for all
purposes, and (iv) all zoning, use, occupancy and operating permits, and other permits, licenses, approvals and certificates, maps, plans, specifications, and all other Intangible Personal
Property (as defined in the Agreement) owned by Assignor and used exclusively in the use or operation of the Real Property and Personal Property (each as defined in the Agreement), including, without
limitation, any trade name owned by Assignor now used exclusively in connection with the Real Property and any other agreements or rights relating to the use and operation of the Real Property and
Personal Property but excluding the names "RREEF" and any derivatives thereof (collectively, the "Other Intangible Property"). 

        This
Assignment is made subject, subordinate and inferior to the easements, covenants and other matters and exceptions set forth on  Exhibit D, if any, attached hereto and made a part hereof for
all purposes. 

        ASSIGNEE
ACKNOWLEDGES AND AGREES, BY ITS ACCEPTANCE HEREOF, THAT, EXCEPT AS EXPRESSLY PROVIDED IN, AND SUBJECT TO THE LIMITATIONS CONTAINED IN, THAT CERTAIN AGREEMENT OF PURCHASE AND
SALE, DATED AS OF CONTRACT DATE, BY AND BETWEEN CABOT INDUSTRIAL VENTURE A, LLC, CABOT INDUSTRIAL
VENTURE B, LLC, CW INDUSTRIAL VENTURE B, LLC, CW INDUSTRIAL VENTURE A TEXAS, L.P., and CW INDUSTRIAL VENTURE B TEXAS, L.P. AND DIVIDEND CAPITAL OPERATING PARTNERSHIP LP (AS AMENDED, THE
"AGREEMENT"), THE ASSIGNED ITEMS ARE CONVEYED "AS IS, WHERE IS" AND IN THEIR PRESENT CONDITION WITH ALL FAULTS, AND THAT ASSIGNOR HAS NOT MADE, DOES NOT
MAKE AND SPECIFICALLY DISCLAIMS ANY REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS, AGREEMENTS OR GUARANTIES OF ANY KIND OR CHARACTER WHATSOEVER, WHETHER EXPRESS OR IMPLIED, ORAL OR WRITTEN, PAST,
PRESENT OR FUTURE, OF, AS TO, CONCERNING OR WITH RESPECT TO THE NATURE, QUALITY OR CONDITION OF THE ASSIGNED ITEMS, THE INCOME TO BE DERIVED THEREFROM, OR THE ENFORCEABILITY, MERCHANTABILITY OR
FITNESS FOR ANY PARTICULAR PURPOSE OF THE ASSIGNED ITEMS. 

        Except
as otherwise expressly provided in Article VII of the Agreement, by accepting this Assignment and by its execution hereof, Assignee assumes the payment and performance of,
and agrees to pay, perform and discharge, all the debts, duties and obligations to be paid, performed or discharged from and after the Closing Date (as defined in the Agreement) by (a) the
"landlord" or the "lessor" under the terms, covenants and conditions of the Leases, including, without limitation, brokerage commissions and compliance with the terms of the Leases relating to tenant
improvements and security 

E-1

 

deposits,
and (b) the owner under the Service Contracts, the Warranties and/or the Other Intangible Property. Assignee agrees to indemnify, hold harmless and defend Assignor from and against
any and all claims, losses, liabilities, damages, costs and expenses (including, without limitation, court costs and reasonable attorneys' fees and disbursements) resulting by reason of the failure of
Assignee to pay, perform or discharge any of the debts, duties or obligations assumed or agreed to be assumed by Assignee hereunder arising out of or relating to, directly or indirectly, in whole or
in part, the Assigned Items, from and after the Closing Date. Except as otherwise expressly provided in Article VII and subject to the provisions of Sections 3.2 and 9.19 of the Agreement
(which provisions are not modified in any way by the following indemnity), Assignor agrees to protect, indemnify, defend and hold Assignee harmless from and against all claims, losses, damages, costs,
expenses, obligations and liabilities (including, without limitation, court costs and reasonable attorneys' fees and disbursements) (collectively,
"Claims") arising out of or relating to, directly or indirectly, in whole or in part, the Leases or Service Contracts prior to the Closing Date;
provided, however, that the foregoing indemnity shall not apply to any Claims relating in any way to the physical, environmental or other condition of the Property (as defined in the Agreement) or the
compliance or non-compliance of the Property with any legal requirements; and provided further that the foregoing indemnity shall apply solely to Claims first raised after the Closing Date
and shall survive only for a period of six (6) months after the Closing Date. Any such Claim which Assignee may have at any time against Assignor, whether known or unknown, which is not
specifically asserted by written notice to Assignor within such six (6) month period shall not be valid or effective, and neither Assignor nor any Seller Related Parties (as defined in the
Agreement) shall have any liability with respect thereto. 

        The
obligations of Assignor are intended to be binding only on the property of Assignor and shall not be personally binding upon, nor shall any resort be had to, the private properties
of any Seller Related Parties. 

        All
of the covenants, terms and conditions set forth herein shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns. 

E-2

 

        IN
WITNESS WHEREOF, Assignor and Assignee have caused this Assignment to be executed on the day and year first above written. 

	 	 	ASSIGNOR:
	

 	
 	

	

 	
 	

By:	

    

	 	 	Name:	    

	 	 	Its:	    

	

 	
 	
ASSIGNEE:
	

 	
 	
ASSIGNEE NAME, ASSIGNEE ENTITY
	

 	
 	

By:	

    

	 	 	Name:	    

	 	 	Its:	    

E-3

  

 
 

EXHIBIT F
  
    Tenant Estoppel

[DATE] 

Dividend
Capital Operating Partnership LP

518 17th Street, Suite 1700

Denver, CO 80202

Attention: Teresa L. Corral 

The
undersigned ("Tenant") hereby certifies to                        ("Seller") and to Dividend Capital
Operating Partnership LP ("Buyer") and any mortgage lender of Buyer or Buyer's assignee in connection with Buyer's proposed purchase of
[address], [city/state] (the "Building") that: 

        1.     Tenant
is the lessee of certain space (the "Premises") in the Building, containing approximately            square
feet and known as Suite No.            , under a lease
dated                        ,            (the "Lease") entered into between Tenant and
                        , as lessor ("Lessor"). 

        2.     The
Lease is presently in full force and effect and, to Tenant's knowledge, Tenant is not in default thereunder. 

        3.     The
Lease, a copy of which is attached hereto as Exhibit A, constitutes the entire agreement between the Lessor and
Tenant and there has been no amendment, written or oral, to the Lease except as included in Exhibit A. Tenant neither expects nor has been
promised any inducement, concession or consideration for entering into the Lease, except as stated therein, and there are no side agreements or understandings between Lessor and Tenant. 

        4.     Tenant
has accepted the Premises and is paying rent under the Lease. All work to be performed for Tenant under the Lease has been performed as required under the Lease
and has been accepted by Tenant, except                        , and all allowances to be paid to Tenant, including allowances for
tenant improvements, moving expenses or other items, have been paid. 

        5.     The
term of the Lease commenced on                        ,            ,
and will end on                        , with options to extend of successive periods
of            
years each. 

        6.     Base
rent is currently payable in the amount of $                        per month and Tenant is currently making estimated payments of
additional rent of $                        per
month. The base year for pass-through of operating expenses and taxes is                        , and the base year amount for
taxes is $                        , and the base year amount for operating
expenses is $                        [or the base amount for taxes
is                        , and the base amount for operating expenses
is                        . Tenant is required to pay its pro rata share
of operating expenses of the Building and its pro rata share of the Building's real property taxes and insurance costs. 

        7.     As
of the date of this certificate, to the knowledge of Tenant, Lessor is not in default under the Lease. 

        8.     The
amount of the security deposit paid under the terms of the Lease is                        Dollars
($                        ). No rent under the Lease has been paid more than one
month in advance, and no other sums have been deposited with Lessor. 

        9.     The
undersigned has not entered into any sublease, assignment or any other agreement transferring any of its interest in the Lease or the Premises except as follows:
                        . 

        10.   All
exhibits attached hereto are by this reference incorporated fully herein. The terms "this certificate" shall be considered to include all such exhibits. The
undersigned makes this statement for the Buyer's and Seller's benefit and protection with the understanding that Buyer (and any assignee of 

F-1

 

Buyer's
right to purchase the Premises) and its lender, if any, intend to rely upon this statement in connection with Buyer's or its assignee's intended purchase (and its lender's financing of the
purchase) of the Premises from Seller. The undersigned agrees that it will, upon receipt of written notice from Seller, commence to pay all rents to the Buyer (or its assignee) or to any agent acting
on behalf of the Buyer or its assignee. 

	EXECUTED:	  
	, 2004	 	TENANT:
	

 	

 	

 	
 	

By:	

  

	

 	

 	

 	
 	

Its:	

  

F-2

  

 
 

EXHIBIT G
  
    List of Service Contracts    
    

RREEF National—Service Contracts 

Effective
as of August 9, 2004 

	Folder Structure—Portfolio\City\Property
 
	 	DD Item/Contractor
	 	Inventory

	Service Contracts	 	 	 	 
	RREEF National\Atlanta\Service Contracts	 	Advantage Fire Sprinkler Co Inc	 	CF
	RREEF National\Atlanta\Service Contracts	 	All-Pro Pest Services Inc	 	CF
	RREEF National\Atlanta\Service Contracts	 	ATC Associates Inc 002	 	CF
	RREEF National\Atlanta\Service Contracts	 	Atlanta Contracting Enterprises Inc	 	CF
	RREEF National\Atlanta\Service Contracts	 	Clean & Clear	 	CF
	RREEF National\Atlanta\Service Contracts	 	Certified Fire Protection Inc	 	CF
	RREEF National\Atlanta\Service Contracts	 	Corporate Commercial Sweeping Inc	 	CF
	RREEF National\Atlanta\Service Contracts	 	East Coast Fire Protection Co Inc	 	CF
	RREEF National\Atlanta\Service Contracts	 	Peachtree Pest Control	 	CF
	RREEF National\Atlanta\Service Contracts	 	RRK Associates	 	CF
	RREEF National\Atlanta\Service Contracts	 	SKB Industries Inc	 	CF
	RREEF National\Atlanta\Service Contracts	 	Valcourt Building Services LC	 	CF
	RREEF National\Atlanta\Service Contracts	 	Watt Commercial Sweeping Inc	 	CF
	RREEF National\Atlanta\Service Contracts	 	Western Pest Services	 	CF
	RREEF National\Atlanta\Service Contracts	 	Hickory Hill Landscaping Inc	 	CF
	RREEF National\Atlanta\Service Contracts	 	Fire Systems Inc	 	CF
	RREEF National\Atlanta\Service Contracts	 	Allgood Services of Georgia Inc	 	CF
	RREEF National\Atlanta\Service Contracts	 	Environmental Care	 	CF
	RREEF National\Atlanta\Service Contracts	 	ValleyCrest Landscape Maintenance Inc	 	CF
	RREEF National\Boston\Service Contracts	 	Building Technology Engineers Inc	 	CF
	RREEF National\Boston\Service Contracts	 	Norel Service Company	 	CF
	RREEF National\Boston\Service Contracts	 	A-1 Lighting Services Co.	 	PJ
	RREEF National\Boston\Service Contracts	 	James A. Martin Company (65 Sunnyslope Ave)	 	PJ
	RREEF National\Boston\Service Contracts	 	James A. Martin Company (14 and 16 Progress Road)	 	PJ
	RREEF National\Boston\Service Contracts	 	Aetna Corp.	 	PJ
	RREEF National\Boston\Service Contracts	 	Landscaping Etc, Inc.	 	PJ
	RREEF National\Boston\Service Contracts	 	LandTech, Inc.	 	PJ
	RREEF National\Dallas\Service Contracts	 	Action Automatic Sprinkler Inc	 	CF
	RREEF National\Dallas\Service Contracts	 	Lighting Supply Inc	 	CF
	RREEF National\Dallas\Service Contracts	 	LMS Landscape Inc	 	CF
	RREEF National\Dallas\Service Contracts	 	Mister Sweeper Inc	 	CF
	RREEF National\Phoenix\Service Contracts	 	Sun State Lawn	 	CF
	RREEF National\Phoenix\Service Contracts	 	Southwest Lawn Care	 	CF
	RREEF National\Phoenix\Service Contracts	 	Terminix (Pest Control)	 	CF
	RREEF National\Phoenix\Service Contracts	 	Desert Sweeping	 	CF
	RREEF National\Phoenix\Service Contracts	 	Cactus Sweeping Inc	 	CF
	RREEF National\Phoenix\Service Contracts	 	Sunstate Sweeping	 	CF
	RREEF National\Phoenix\Service Contracts	 	Service Maintenance	 	CF
	RREEF National\Phoenix\Service Contracts	 	On-Site Commercial	 	CF
	 	 	 	 	 

G-1

 

	RREEF National\Phoenix\Service Contracts	 	Metro Fire Fire-Safety Testing	 	CF
	RREEF National\Phoenix\Service Contracts	 	Standard Roofing	 	CF
	RREEF National\Phoenix\Service Contracts	 	Brimhall Enterprises Inc., d/b/a A Design Electric	 	PJ
	RREEF National\San Francisco\Service Contracts (Excluding Cherry)	 	Pro-Sweep Inc 002	 	CF
	RREEF National\San Francisco\Service Contracts (Excluding Cherry)	 	Vista Universal Inc	 	CF
	RREEF National\San Francisco\Service Contracts (Excluding Cherry)	 	Cagwin & Dorward	 	CF
	RREEF National\San Francisco\Service Contracts (Excluding Cherry)	 	Barker Mechanical Services Inc	 	CF
	RREEF National\San Francisco\Service Contracts (Excluding Cherry)	 	Bay Alarm	 	CF

G-2

  

 
 

EXHIBIT H
  
    Earnest Money Escrow Agreement    
    

        This Escrow Agreement is made as of the Effective Date (as defined in the Purchase Agreement (defined below)), by and among CABOT INDUSTRIAL VENTURE A, LLC, a
Delaware limited liability company, CABOT INDUSTRIAL VENTURE B, LLC, a Delaware limited liability company, CW INDUSTRIAL VENTURE B, LLC, a Delaware limited liability company, CW INDUSTRIAL VENTURE A
TEXAS, L.P., a Delaware limited partnership and CW INDUSTRIAL VENTURE B TEXAS, L.P., a Delaware limited partnership (collectively, "Seller") and DIVIDEND CAPITAL OPERATING PARTNERSHIP LP ("Buyer"),
and CHICAGO TITLE INSURANCE COMPANY ("Escrow Agent"). 

RECITALS 

        Seller
and Buyer have entered into a certain purchase agreement of even date herewith (the "Purchase Agreement") concerning real property more particularly described in the Purchase
Agreement (the "Property"). 

        In
connection with the Purchase Agreement, Seller and Buyer have requested Escrow Agent to receive funds to be held in escrow and applied in accordance with the terms and conditions of
this Escrow Agreement. 

        NOW
THEREFORE, in consideration of the above recitals, the mutual promises set forth herein and other good and valuable consideration, the parties agree as follows: 

        1.     ESCROW
AGENT. Chicago Title Insurance Company hereby agrees to act as Escrow Agent in accordance with the terms and conditions hereof. 

        2.     INITIAL
DEPOSIT/ADDITIONAL DEPOSITS. Escrow Agent shall receive an initial deposit in the amount of Two Million and No/100 Dollars ($2,000,000.00). Any additional amounts
deposited with Escrow Agent shall be added to the initial deposit and together with the initial deposit and all interest earned thereon shall be referred to herein collectively as the "Escrow Fund". 

        3.     DEPOSITS
OF FUNDS. All checks, money orders or drafts will be processed for collection in the normal course of business. Escrow Agent may initially deposit such funds in
its custodial or escrow accounts which may result in the funds being commingled with escrow funds of others for a time; however, as soon as the Escrow Fund has been credited as collected funds to
Escrow Agent's account, then Escrow Agent shall immediately deposit the Escrow Fund into an interest bearing account with any reputable trust company, bank, savings bank, savings association, or other
financial services entity. Deposits held by Escrow Agent shall be subject to the provisions of applicable state statues governing unclaimed property. Seller and Buyer will execute the appropriate
Internal Revenue Service documentation for the giving of taxpayer identification information relating to this account. Seller and Buyer do hereby certify that each is aware the Federal Deposit
Insurance Corporation coverages apply to a maximum amount of $100,000.00 per depositor. Further, Seller and Buyer understand that Escrow Agent assumes no responsibility for, nor will Seller or Buyer
hold same liable for any loss occurring which arises from a situation or event under the Federal Deposit Insurance Corporation coverages. 

H-1

 

        All
interest will accrue to and be reported to the Internal Revenue Service for the account of Buyer, as set forth below: 

	Name:	 	Dividend Capital Operating Partnership LP

Address: 518 17th Street, Suite 1700

Denver, Colorado 80202

Attention: Teresa L. Corral

Phone No.: (303) 226-1470

Fax No.: (303) 226-2201	 	 
	

Tax I.D.	
 	

82-0538522	
 	

 

Escrow
Agent shall not be responsible for any penalties, or loss of principal or interest, or any delays in the withdrawal of the funds which may be imposed by the depository institution as a result
of the making or redeeming of the investment pursuant to Seller and Buyer instructions. 

        4.     DISBURSEMENT
OF ESCROW FUND. Escrow Agent may disburse all or any portion of the Escrow Fund in accordance with and in reliance upon written instructions from both Seller
and Buyer or otherwise as required/permitted by the terms of the Purchase Agreement. The Escrow Agent shall have no responsibility to make an investigation or determination of any facts underlying
such instructions or as to whether any conditions upon which the funds are to be released have been fulfilled or not fulfilled, or to whom funds are released. 

        5.     DEFAULT
AND/OR DISPUTES. In the event any party to the transaction underlying this Agreement shall tender any performance after the time when such performance was due,
Escrow Agent may proceed under this Agreement unless one of the parties to this Agreement shall give to the Escrow Agent written direction to stop further performance of the Escrow Agent's functions
hereunder. In the event written notice of default or dispute is given to the Escrow Agent by any party, or if Escrow Agent receives contrary written instructions from any party, the Escrow Agent will
promptly notify all parties of such notice. Thereafter, Escrow Agent will decline to disburse funds or to deliver any instrument or otherwise continue to perform its escrow functions, except upon
receipt of a mutual written agreement of the parties or upon an appropriate order of court. In the event of a dispute, the Escrow Agent is authorized to deposit the escrow into a court of competent
jurisdiction for a determination as to the proper disposition of said funds. In the event that the funds are deposited in court, the Escrow Agent shall be entitled to file a claim in the
proceeding for its costs and counsel fees, if any. 

        6.     ESCROW
AGENT FEES AND OTHER EXPENSES. Escrow Agent shall not charge for its services hereunder. Escrow Agent shall not be required to advance its own funds for any
purpose provided that any such advance, made at its option, shall be promptly reimbursed by the party for whom it is advanced, and such optional advance shall not be an admission of liability on the
part of Escrow Agent. 

        7.     PERFORMANCE
OF DUTIES. In performing any of its duties under this Agreement, or upon the claimed failure to perform its duties hereunder, Escrow Agent shall not be liable
to anyone for any damages, losses or expenses which may occur as a result of Escrow Agent so acting, or failing to act; provided, however, Escrow Agent shall be liable for damages arising out of its
willful default or gross negligence under this Agreement. Accordingly, Escrow Agent shall not incur any such liability with respect to (i) any good faith act or omission upon advice of counsel
given with respect to any questions relating to the duties and responsibilities of Escrow Agent hereunder, or (ii) any good faith act or omission in reliance upon any document, including any
written notice or instructions provided for in the Agreement, not only as to its due execution and to the validity and effectiveness of its provisions but also as to the truth and accuracy of any
information contained therein, which Escrow 

H-2

 

Agent
shall in good faith believe to be genuine, to have been signed or presented by the proper person or persons and to conform with the provisions of this Agreement. 

        8.     LIMITATIONS
OF LIABILITY. Escrow Agent shall not be liable for any loss or damage resulting from the following: 

        (a)   The
effect of the transaction underlying this Agreement including without limitation, any defect in the title to the real estate, any failure or delay in the surrender
of possession of the property, the rights or obligations of any party in possession of the property, the financial status or insolvency of any other party, and/or any misrepresentation of fact made by
any other party; 

        (b)   The
default, error, act or failure to act by any other party to the escrow; 

        (c)   Any
loss, loss of value or impairment of funds which have been deposited in escrow while those funds are in the course of collection or while those funds are on deposit
in a depository institution if such loss or loss of value or impairment results from the failure, insolvency or suspension of a depository institution; 

        (d)   Any
defects or conditions of title to any property that is the subject of this escrow provided, however, that this limitation of liability shall not affect the liability
of Escrow Agent under any title insurance policy which it has issued or may issue. NOTE: No title insurance liability is created by this Agreement. 

        (e)   Escrow
Agent's compliance with any legal process including but not limited to, subpoena, writs, orders, judgments and decrees of any court whether issued with or without
jurisdiction and whether or not subsequently vacated, modified, set aside or reversed. 

        9.     HOLD
HARMLESS. Buyer and Seller shall indemnify the Escrow Agent and hold the Escrow Agent harmless from all damage, costs, claims and expenses arising from performance
of its duties as Escrow Agent including reasonable attorneys' fees, except for those damages, costs, claims and expenses resulting form the gross negligence or willful misconduct of the Escrow Agent. 

        10.   TERMINATION.
This Agreement shall terminate upon the first to occur of (a) one year from the date hereof, in which event Escrow Agent shall disburse the Escrow
Fund to the person who deposited such funds, less Escrow Agent's fees and expenses, unless this Agreement is extended by written agreement of all parties including the Escrow Agent; (b) the
disbursement by Escrow Agent of all of the Escrow Fund and; (c) the joint written instructions of Buyer and Seller. 

        11.   RELEASE
OF PAYMENT. Payment of the funds so held in escrow by the Escrow Agent, in accordance with the terms, conditions and provisions of this Escrow Agreement, shall
fully and completely discharge and exonerate the Escrow Agent from any and all future liability or obligations of any nature or character at law or equity to the parties hereto or under this
Agreement. 

        12.   NOTICES.

	To Buyer:	 	Dividend Capital Operating Partnership LP

518 17th Street, Suite 1700

Denver, Colorado 80202

Attention: Teresa L. Corral

Phone No.: (303) 226-1470

Fax No.: (303) 226-2201	 	 
	 	 	 	 	 

H-3

 

	

with a copy to:	
 	

Mayer, Brown, Rowe & Maw LLP

190 South LaSalle Street

Chicago, Illinois 60603

Attention: George Ruhlen and Milos Markovic

Phone No.: (312) 701-7202

Fax No.: (312) 701-7711	
 	

 
	

To Seller:	
 	

c/o RREEF

280 Park Avenue, 40th Floor

New York, New York 10017

Attention: Peter F. Feinberg

Phone No.: (212) 454-3900

Fax No.: (212) 454-6616	
 	

 
	

with a copy to:	
 	

Alston & Bird LLP

1201 W. Peachtree Street

Atlanta, Georgia 30309

Attention: James G. Farris, Jr.

Phone No.: (404) 881-7896

Fax No.: (404) 881-7777	
 	

 
	

If to Escrow Agent:	
 	

Chicago Title Insurance Company

171 N. Clark Street

Chicago, IL 60601

Attention: Linda M. Tyrrell

Phone No.: (312) 223-3361

Fax No.: (312) 223-4857	
 	

 

        13.   This
Agreement shall be binding upon and inure to the benefit of the parties respective successors and assigns. 

        14.   This
Agreement shall be governed by and construed in accordance with the Laws of the State in which the Property is located. 

        15.   This
Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which, when taken together, shall constitute
but one and the same instrument. 

        16.   Time
shall be of the essence of this Agreement and each and every term and condition hereof. 

        17.   In
the event a dispute arises between Buyer and Seller under this Agreement, the losing party shall pay the attorney's fees and court costs of the prevailing party. 

H-4

 

        IN
WITNESS WHEREOF, the undersigned have caused this Agreement to be duly executed and sealed as of the date first stated above. 

	 	 	SELLER:

CABOT INDUSTRIAL VENTURE A, LLC,

a Delaware limited liability company
	

 	
 	

By:	

  
 Peter F. Feinberg

Vice President
	

 	
 	

CABOT INDUSTRIAL VENTURE B, LLC,

a Delaware limited liability company
	

 	
 	

By:	

  
 Peter F. Feinberg

Vice President
	

 	
 	

CW INDUSTRIAL VENTURE B, LLC,

a Delaware limited liability company
	

 	
 	

By:	

  
 Peter F. Feinberg

Vice President

[SIGNATURES
CONTINUED ON NEXT PAGE] 

H-5

 

	 	 	CW INDUSTRIAL VENTURE A TEXAS, L.P.,

a Delaware limited partnership
	

 	
 	

By: CW Industrial A Texas, LLC, a Delaware

        limited liability company, its General Partner
	

 	
 	

 	

 	
 	

By:	

  
 Peter F. Feinberg

Vice President
	

 	
 	

CW INDUSTRIAL VENTURE B TEXAS, L.P.,

a Delaware limited partnership
	

 	
 	

By: CW INDUSTRIAL B TEXAS, LLC,

        a Delaware limited liability company,

        its General Partner
	

 	
 	

 	

 	
 	

By:	

  
 Peter F. Feinberg

Vice President

[SIGNATURES
CONTINUED ON NEXT PAGE] 

H-6

 

	 	 	BUYER:
	

 	
 	

DIVIDEND CAPITAL OPERATING PARTNERSHIP LP,

a Delaware limited partnership
	

 	
 	

By:	

    

	 	 	 	Name:
	 	 	 	Its:

[SIGNATURES
CONTINUED ON NEXT PAGE] 

H-7

 

	 	 	ESCROW AGENT:
	

 	
 	

CHICAGO TITLE INSURANCE COMPANY
	

 	
 	

By:	

    

	 	 	 	Name:
	 	 	 	Title:
	

 	
 	

 	

                        [CORPORATE SEAL]

	 	 	 	 

H-8

  

 
 

SCHEDULE 1
  
    Disclosure Items    
    

        1.     Natural
hazards described in the following California code sections (the "Natural Hazard Laws") may affect the Property:
(A) Govt. Code Section 8589.3 (Special Flood Hazard Area); (B) Govt. Code Section 8589.4 (Inundation Area); (C) Govt. Code Section 51183.5 (Fire Hazard
Severity Zone); (D) Public Resource Code Section 2621.9 (Earthquake Fault Zone); (E) Public Resource Code Section 2694 (Seismic Hazard Zone); and (F) Public Resource
Code Section 4136 (Wildland Area). Seller's Broker shall execute and deliver to Buyer a Natural Hazards Disclosure Statement with respect to the foregoing matters (the
"Natural Hazards Disclosure Statement"). Buyer acknowledges and agrees that Buyer will independently evaluate and investigate whether any or all of such
Natural Hazards affect the Property, and Seller shall have no liabilities or obligations with respect thereto. Prior to the expiration of the Contingency Period, Buyer shall execute and deliver to
Seller the Natural Hazards Disclosure Statement. BUYER ACKNOWLEDGES AND REPRESENTS THAT BUYER HAS EXTENSIVE EXPERIENCE ACQUIRING AND CONDUCTING DUE DILIGENCE REGARDING COMMERCIAL PROPERTIES. THIS
PROVISION IS AN ESSENTIAL ASPECT OF THE BARGAIN BETWEEN THE PARTIES. 

H-1

 
 

EXHIBIT I    
    
    APPROVAL CRITERIA    
    
    MASTER LEASE    
    
    RREEF NATIONAL PORTFOLIO    
    

        I.     Lease
Parameters 

        A.    Provided
that the lease parameters outlined on the Master Lease Schedule attached hereto as Exhibit J are satisfied, a prospective lease will be deemed approved
subject to Use and Credit Criteria outlined below. 

        1.     In
order for the lease to be deemed an approved lease, the Tenant Improvement and Commission amounts to be paid by Buyer (i.e. Seller may elect to pay excess amounts
pursuant to Section 7.6) must be equal to or less than the amounts outlined on Exhibit J. 

        II.    Use

        A.    Tenant
operations consistent with existing uses in the park or uses commonly found in comparable industrial facilities shall be approved subject to the following: 

        1.     Uses
that pose significant environmental risk may be disapproved; 

        2.     Uses
that require more than pro rata share of automobile or truck parking may be disapproved; and 

        3.     Uses
that require outside storage or exterior trade fixtures may be disapproved. 

        III.  Credit
Criteria 

        A.    An
effort will be made to approve leases with tenants with positive prior landlord references. 

        B.    If
a tenant occupies greater than 50% of a property, such tenant must have 

        1.     Net
worth of at least aggregate base rent times four; and 

        2.     Positive
EBIDTA for prior 12 months or latest annual reporting period; and 

        3.     The
tenant, tenant's parent or wholly owned subsidiary of tenant must have been in business for a minimum of two years. 

        C.    If
a tenant occupies less than 50% of a property, but more than 25%, such tenant must have 

        1.     Net
worth of at least aggregate base rent times three; and 

        2.     Positive
Net Income for prior 12 months or latest annual reporting period 

        D.    If
the tenant occupies less than 25% of a property 

        1.     RREEF
will use best efforts to secure a bank letter of credit or a cash security deposit for the equivalent of one month's base rent from such tenant. 

        IV.   DCT
Approval Rights 

        A.    DCT
may, but is under no obligation to, approve leases that do not satisfy the above criteria. 

 
 

EXHIBIT J
  
    MASTER LEASE SCHEDULE    
    

QuickLinks

Exhibit 10.1

AGREEMENT OF PURCHASE AND SALE

ARTICLE I PURCHASE AND SALE OF PROPERTY

ARTICLE II CONDITIONS

ARTICLE III BUYER'S EXAMINATION

ARTICLE IV TITLE

ARTICLE V RISK OF LOSS AND INSURANCE PROCEEDS

ARTICLE VI BROKERS AND EXPENSES

ARTICLE VII LEASES AND OTHER AGREEMENTS

ARTICLE VIII CLOSING AND ESCROW

ARTICLE IX MISCELLANEOUS

LIST OF EXHIBITS AND SCHEDULES Exhibits

Exhibit A-1

GENERAL PROPERTY DESCRIPTIONS ATLANTA PROPERTIES

DALLAS PROPERTIES

HOUSTON PROPERTIES

PHOENIX PROPERTIES

SAN FRANCISCO PROPERTIES

EXHIBIT A Real Property Description

EXHIBIT C Deed GEORGIA FORM

LIMITED WARRANTY DEED

EXHIBIT A Legal Description

EXHIBIT B

ARIZONA DEED EXHIBIT

Special Warranty Deed

EXHIBIT A to Arizona Deed Legal Description

EXHIBIT B to Arizona Deed Permitted Exceptions

CALIFORNIA FORM Deed

GRANT DEED

EXHIBIT "A" to California Deed Legal Description

EXHIBIT "B" to California Deed Permitted Title Exceptions

MASSACHUSETTS CORPORATE WARRANTY DEED EXHIBIT

WARRANTY DEED [BY CORPORATION]

The Commonwealth of Massachusetts

EXHIBIT A to Massachusetts Deed Legal Description

EXHIBIT B Permitted Exceptions

SPECIAL WARRANTY DEED

EXHIBIT A LEGAL DESCRIPTION

EXHIBIT B

EXHIBIT D Bill of Sale

EXHIBIT E Assignment of Leases, Service Contracts, Warranties and Other Intangible Property

EXHIBIT F Tenant Estoppel

EXHIBIT G List of Service Contracts

EXHIBIT H Earnest Money Escrow Agreement

SCHEDULE 1 Disclosure Items

EXHIBIT I APPROVAL CRITERIA MASTER LEASE RREEF NATIONAL PORTFOLIO

EXHIBIT J MASTER LEASE SCHEDULE

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