Document:

Exhibit

FIRST AMENDMENT TO
PURCHASE AND SALE AGREEMENT
(COCHRAN BYPASS – BI-LO STORE)

THIS FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT (this “Amendment”), dated as of October 27, 2017, is made by and between TNP SRT PORTFOLIO II, LLC, a Delaware limited liability company (“Seller”) and KAMIN REALTY LLC, a Delaware limited liability company (“Buyer”).

		
	A.
	Seller and Buyer are parties to that certain Purchase and Sale Agreement dated September 20, 2017 (the “Purchase Agreement”).

		
	B.
	Seller and Buyer desire to amend certain provisions of the Purchase Agreement as set forth herein.

NOW THEREFORE, in consideration of the premises, their mutual covenants and promises set forth herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Seller and Buyer hereby agree as follows:

		
	1.
	Defined Terms.  Capitalized terms used in this Amendment shall have the meanings set forth in the Purchase Agreement except as otherwise defined herein.  

		
	2.
	Reinstatement of Purchase Agreement.  The Purchase Agreement is hereby revived and reinstated and, as amended hereby, continues in full force and effect, as binding on the parties thereto.  The provisions of this Amendment shall control in the event of any conflicts with the provisions of the Purchase Agreement.

		
	3.
	Closing Date.  The definition of “Closing Date” is hereby amended to mean Tuesday, October 31, 2017.

		
	4.
	Execution of Amendment.  This Amendment may be executed in counterparts, each of which shall be part of one and the same instrument, which counterparts will be transmitted to each party to the Purchase Agreement by email transmission of signature pages.  This Amendment shall not be effective or binding upon either party until and unless Seller and Buyer have each delivered a signed signature page to this Amendment to the other party.

[SIGNATURES ON FOLLOWING PAGES]

IN WITNESS WHEREOF, Seller and Buyer have executed this Amendment as of the date first set forth above.

SELLER:

TNP SRT PORTFOLIO II, LLC, 
a Delaware limited liability company

By:                         
Name:                      
Title:                          

[SIGNATURES CONTINUE ON FOLLOWING PAGE]

BUYER:

KAMIN REALTY LLC,
a Delaware limited liability company

By:                         
Name:                      
Title:                          

First Amendment to
Purchase and Sale Agreement

902993.1Exhibit

SECOND AMENDMENT TO
PURCHASE AND SALE AGREEMENT
(COCHRAN BYPASS – BI-LO STORE)

THIS SECOND AMENDMENT TO PURCHASE AND SALE AGREEMENT (this “Amendment”), dated as of October 30, 2017, is made by and between TNP SRT PORTFOLIO II, LLC, a Delaware limited liability company (“Seller”) and KAMIN REALTY LLC, a Delaware limited liability company (“Buyer”).

		
	A.
	Seller and Buyer are parties to that certain Purchase and Sale Agreement dated September 20, 2017, as amended by that certain First Amendment to Purchase Agreement dated October 27, 2017 (as amended, the “Purchase Agreement”).

		
	B.
	Seller and Buyer desire to amend certain provisions of the Purchase Agreement as set forth herein.

NOW THEREFORE, in consideration of the premises, their mutual covenants and promises set forth herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Seller and Buyer hereby agree as follows:

		
	1.
	Defined Terms.  Capitalized terms used in this Amendment shall have the meanings set forth in the Purchase Agreement except as otherwise defined herein.  

		
	2.
	Ratification and Affirmation of Purchase Agreement.  Seller and Buyer hereby ratify and affirm the Purchase Agreement in its entirety, except as expressly amended herein.  The provisions of this Amendment shall control in the event of any conflicts with the provisions of the Purchase Agreement.

		
	3.
	Payment to Paving Vendor.  Seller agrees to pay, as of the Closing, through escrow and directly to PMOW, LLC, the retainage held by Seller and owing to PMOW, LLC, for its parking lot overlay work, in the amount of $10,551.48.  As a result of such payment, the TI Credit under Section 7(c)(iv) of the Purchase Agreement shall be reduced to $76,405.20.  

		
	4.
	Additional Seller Representation and Warranty.  The following representation is hereby added to Addendum II to the Purchase Agreement as part of Seller’s Representations and Warranties under “C.  The Lease:”

“4.    Tenant Improvement Work.  To Seller's Actual Knowledge, (i) the tenant improvement work by Seller pursuant to the Third Amendment to Lease for the lighting update in the amount of $68,080.00 and the work for the parking lot overlay in the amount of $94,963.32 (together, the “TI Work”) has been completed and is acceptable to Tenant, (ii) any consents required of Tenant under paragraph 4 of the Third Amendment to Lease were obtained, and (iii) the remaining balance of the tenant improvement allowance under the Third Amendment to the Lease is $76,405.20.”

		
	5.
	Execution of Amendment.  This Amendment may be executed in counterparts, each of which shall be part of one and the same instrument, which counterparts will be transmitted to each party to the Purchase Agreement by email transmission of signature pages.  This Amendment shall not be effective or binding upon either party until and unless Seller and Buyer have each delivered a signed signature page to this Amendment to the other party.

[SIGNATURES ON FOLLOWING PAGES]

IN WITNESS WHEREOF, Seller and Buyer have executed this Amendment as of the date first set forth above.

SELLER:

TNP SRT PORTFOLIO II, LLC, 
a Delaware limited liability company

By:                         
Name:                          
Title:                          

[SIGNATURES CONTINUE ON FOLLOWING PAGE]

BUYER:

KAMIN REALTY LLC,
a Delaware limited liability company

By:                         
Name:                          
Title:                          

Second Amendment to
Purchase and Sale Agreement

903841.2Exhibit

PROMISSORY NOTE

US$2,500.000.00    September  27, 2017
FOR VALUE RECEIVED, Strategic Realty Operating Partnership, L.P., a Delaware limited partnership ("Borrower"), promises to pay to the order of Glenborough Property Partners, LLC, a Delaware limited liability company (together with its successors and assigns, “Lender”), in lawful money of the United States the principal sum of Two Million Five Hundred Thousand Dollars ($2,500,000.00), together with interest at the adjustable rate equal to the KeyBank prime rate, as such rate changes from time to time (or if for whatever reason such rate ceases to be available, the Bank of America prime rate) which is currently four and one quarter percent (4.25%) per annum, based on a 365 day year and the actual number of days elapsed. 
Interest shall be payable in arrears on each monthly anniversary of this Note, and upon any prepayment.  The principal and all accrued but unpaid interest shall be payable on March 31, 2018.  If the date for any payment due hereunder would otherwise fall on a non-business day at Borrower’s principal place of business, such payment date shall be extended to the next following business day with interest payable at the interest rate specified herein during such extension.
This Note may be prepaid in whole or in part, at any time from time to time, without penalty or premium.  All payments and prepayments received by Lender shall be applied first to accrued but unpaid interest, then to other charges due with respect to this Note and then to the unpaid principal balance.
Borrower waives presentment, demand for performance, protest, notice of protest, notice of dishonor or non-payment, bringing of suit and diligence in taking any action to collect any sums owing hereunder.
Borrower’s obligation to make payment under this Note is absolute and unconditional, and shall not be subject to any right of setoff, counterclaim or other defense that Borrower may have against Lender or any other person or entity under applicable law or otherwise, including any claims, actions or rights arising under any other agreement or document.
If the indebtedness represented by this Note or any part thereof is collected at law or in equity or in bankruptcy, receivership, or other judicial proceedings, or if this Note is placed in the hands of attorneys for collection after default, Borrower agrees to pay, in addition to the principal and interest payable hereon, reasonable attorneys’ fees and costs incurred by Lender.
Lender may at any time without Borrower’s consent assign all or any part of Lender’s rights under this Note to a third party.
This Note may be modified only by a written agreement executed by Borrower and Lender.
This Note shall be construed in accordance with and governed by the laws of the State of California.
Any provision of this Note that is illegal, invalid or unenforceable, shall be ineffective to the extent of such illegality, invalidity or unenforceability without rendering illegal, invalid or unenforceable the remaining provisions of this Note.
If this Note is destroyed, lost or stolen, Borrower will deliver a new note to Lender on the same terms and conditions as this Note with a notation of the unpaid principal and accrued and unpaid interest in substitution of the prior Note.  Lender shall furnish to Borrower reasonable evidence that the Note was destroyed, lost or stolen and any security or indemnity that may be reasonably required by Borrower in connection with the replacement of this Note.
IN WITNESS WHEREOF, Borrower has executed this Note as of the date and year first above written.

Strategic Realty Operating Partnership, L.P.
A Delaware limited partnership

		
	By:
	Strategic Realty Trust, Inc.,

A Maryland corporation
Its General Partner

By:                            

Name:                        

Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00281-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00281-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00281-of-00352.parquet"}]]