Document:

Office and Warehouse Lease

 Exhibit 10.23 
 OFFICE AND WAREHOUSE LEASE 
 BETWEEN 

AMNET HOLDINGS, LLC, 
 AS LANDLORD 
 AND 

WORLD OF JEANS and TOPS, 
 A CALIFORNIA CORPORATION, 
 AS TENANT 

17 Pasteur 

IRVINE, CA 92618 

  
 Page 1

 OFFICE AND WAREHOUSE LEASE AGREEMENT 

This OFFICE AND WAREHOUSE LEASE (the “Agreement”) dated as of November 1, 2011, is between AMNET HOLDINGS, LLC, a California limited
liability company (hereinafter referred to as “Landlord”), and WORLD OF JEANS & TOPS, a California corporation (hereinafter referred to as “Tenant”). For good and valuable consideration, the parties hereby enter into
this Agreement based upon the terms below. 
 ARTICLE 1 

BASIC AGREEMENT PROVISIONS 

 

							
	 1.1    Date of Agreement Preparation:
	  	November 1, 2011	  	
			
	 1.2    Landlord:
	  	Amnet Holdings, LLC (“Landlord”)	  	
			
	 1.3    Tenant:
	  	World of Jeans & Tops, a California corporation (“Tenant”)	  	
			
	 1.4    Tenant’s Trade Name:
	  	Tilly’s	  	
			
	 1.5    Tenant’s Address :
	  	10 Whatney, Irvine, CA 92618	  	
			
	 1.6    Premises Address:
	  	17 Pasteur, Irvine, CA 92618 (approximately 81,159 square foot industrial building, consisting of approximately 54,631 of warehouse and 26,528 of office)
(“Building”).	  	(Article 2)
			
	 1.7    Term:
	  	120 months commencing the first full calendar month following the Rental Commencement Date.	  	(Article 3)
			
	 1.8    Rent Commencement Date:
	  	November 1, 2011. If the Landlord modifies the Building to provide internal roof clearance of at least 40’, then Tenant will pay the increased Minimum Monthly
Rent set forth in Section 1.9 upon the earlier of (i) the date Landlord substantially completes the Building modification, or (ii) Tenant has access to the Building.	  	
			
	 1.9    Minimum Monthly Rent and Minimum Annual Rent:
	  	Fifty One Thousand Nine Hundred Forty One and 76/100 Dollars ($51,941.76), subject to the additional increases in accordance with Section 4.2 below. If Landlord
modifies the Building pursuant to Section 1.8, then the Minimum Monthly Rent base will be increased to Sixty Eight Thousand One Hundred Seventy Three and 56/100 ($68,173.56), and subject to additional increases in accordance with Section 4.2 below
if the conditions in (i) or (ii) of Section 1.8 do not occur until after November 1, 2012.The Minimum Annual Rent is 12 times the Minimum Monthly Rent. Annual Increases per Article 4.2	  	(Article 4)
			
	 1.10 Use of Premises:
	  	General office, light manufacturing, and distribution, all in accordance with the requirements of Articles 8 and 26 below, and any necessary permits and licenses to
be obtained and maintained by Tenant at Tenant’s expense.	  	(Article 8)
			
	 1.11 Security Deposit:
	  	One Hundred Eighty Three Thousand Five Hundred Thirty Eight and 30/100 Dollars ($183,538.30).	  	(Article 5)
			
	 1.12 Guarantor:
	  	None	  	
			
	 1.13 Addresses for Notices:
	  		  	(Article 25.3)
			
	           LANDLORD:

 

                   
    Notices to:
  

                   
    Amnet Holdings, LLC
	  	 TENANT:
  

Notices to:
  

Tilly’s
 10 Whatney
 Irvine, CA 92618

Attention: Lease Administration
	  	

  
 Page 2

			
	 with a copy to:
  

N/A
	  	 with a copy to:
  

Tilly’s
 10 Whatney

Irvine, CA 92618
 Attention: Legal
Department

		
	 Landlord’s Address for Payments and Reports:
  

Amnet Holdings, LLC
	  	 Tenant’s Address for Payments and Reports:
  

Tilly’s
 10 Whatney

Irvine, CA 92618
 Attention: Lease
Administration

 This Agreement is subject to the terms, covenants, conditions, Rules and Regulations herein set forth and Tenant
covenants as a material part of the consideration for this Agreement to keep and perform each and all of said terms, covenants, and conditions by it to be kept and performed and that this Agreement is made upon the condition of said performance.

 This Article is intended to supplement and/or summarize the provisions set forth in the balance of this Agreement. If there is any conflict
between any provisions contained in this Article and the balance of the Agreement, the balance of the Agreement shall control. 

ARTICLE 2 

PREMISES 
 Landlord hereby
leases to Tenant and Tenant hereby leases from Landlord the Premises, which are stated in Section 1.6 of this Agreement. Notwithstanding the foregoing, the rentable square footage of the Premises as set forth in this Agreement are final and
shall not be subject to revision, even if incorrect. The rentable square footage of the Premises shall not include any part of the roof located at the Premises. 
 This Agreement is subject to the terms, covenants, conditions, Rules and Regulations herein set forth and Tenant covenants as a material part of the consideration for this Agreement to keep and perform
each and all of said terms, covenants, conditions, rules and regulations by it to be kept and performed and that this Agreement is made upon the condition of said performance. 
 ARTICLE 3 
 TERM AND POSSESSION 

3.1 Term. The Commencement Date, Expiration Date and Term are stated in Section 1.7 and 1.8. of this Agreement. 

3.2 “As Is”. Tenant is hereby agrees that Tenant is leasing the Premises “as is”, and Tenant agrees to
accept the Premises in “as is” condition as of the date of delivery from Landlord, and without any warranties or representations made by Landlord as to the condition thereof. Tenant’s execution of this Agreement shall constitute
Tenant’s acknowledgement that the Premises are delivered in good condition. Landlord undertakes no obligation to make any improvements to the Premises, including, without limitation, no obligation to increase the roof clearance within the
Building. 
 ARTICLE 4 
 RENTAL 
 4.1 Minimum Monthly Rental. Tenant agrees to pay to Landlord
as Minimum Monthly Rent for the Premises (“MMR”), without prior notice or demand and without set off or deduction the sum of Fifty One Thousand Nine Hundred Forty One and 76/100 Dollars ($51,941.76) commencing on the Rent Commencement Date
in Section 1.8, and a like sum on or before the first day of each and every successive calendar month thereafter during the period of the tenancy except that the first month’s MMR shall be paid upon the execution hereof. If Landlord
modifies the Building as set forth in Section 1.8, then the base MMR will be increased to Sixty Eight Thousand One Hundred Seventy Three and 56/100 ($68,173.56) upon the earlier of (i) the date Landlord substantially completes the Building
modification, or (ii) Tenant has access to the Building. If Tenant is granted occupancy prior to the Rent Commencement Date then, (a) Tenant shall pay in advance an occupancy fee equal to one-thirtieth of the MMR amount for each day of
such early occupancy, and (b) such early occupancy shall not affect the termination date of this Agreement. If Landlord modifies the Building pursuant to Section 1.8 and Tenant cannot enter the Building and occupy the whole or any part on
account of Landlord’s modification, Tenant’s obligation to pay Rent shall be abated. Once Tenant can re-enter and re-occupy the Building, Tenant’s obligation to pay Rent will resume. The amount of Rent not paid by Tenant during the
abatement period will be paid by Tenant in equal monthly installments, together with MMR, over the remaining Lease Term. Any Rent abatement resulting from Section 1.8 will not impact the Rent Adjustment Date. 

4.2 Rent Increases. Commencing on the first day of the first full calendar month following 12 months after the Rent Commencement
Date and on each first day of that calendar month thereafter (each date referred to as the 

  
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 “Rent Adjustment Date”) the MMR shall be increased a percentage equal to the actual
increase in the Index based on the Los Angeles, Anaheim, Riverside all Urban Consumers Price Index (Base 1982-1984=100) as published by the US Department of Labor, Bureau of Labor Statistics ( “CPI”) for the month which is four
(4) months prior to the Rent Adjustment Date compared to the Index published for the month which is sixteen (16) months prior to such Rent Adjustment Date; however, in no event shall the MMR be increased on any adjustment date by more than
seven percent (7%) calculated on a cumulative basis and no less than three percent (3%) calculated on a cumulative basis. At no time will the MMR ever decrease, even if the square footage of the Premises decreases. The formula to be used
is as follows: 
 Ending CPI        
times         Previous MMR = Adjusted MMR 
 Beginning CPI 

If this CPI is discontinued or revised during the term, such other governmental index or computation with which it is replaced shall be
used in order to obtain substantially the same results as would be obtained if the CPI had not been discontinued or revised. No reduction in the MMR is allowed for reduced CPI 
 4.3 Payment Policies. Tenant acknowledges that it is Landlord’s policy to require payment by cashier’s check, money order, or immediate funds subsequent to the receipt by Landlord of two
or more checks returned on Tenant’s account due to non-sufficient funds in the account upon which the check is drawn. Additionally, in the event that Tenant is served with a default notice requiring the payment of Rent, Additional Rent or other
amounts due under the terms of the Agreement, then Landlord shall have the right to require Tenant’s tender of monies pursuant to such default notice to be in immediate funds. 

4.4 Returned Check Charge. Tenant acknowledges that in the event a check is returned or dishonored on Tenant’s account due to
non-sufficient funds, Tenant shall pay to Landlord Fifty and 00/100 Dollars ($50.00) as a Returned Check Charge. Tenant further acknowledges that said Returned Check Charge is included as “Additional Rent” (as defined in
Section 4.5 herein). 
 4.5 Additional Rent. All amounts that Tenant is required to pay to Landlord under this
Agreement, other than Minimum Annual Rent, shall be deemed additional rent and referred to as “Additional Rent.” All Additional Rent due under this Agreement shall be payable concurrently with the monthly installments of Minimum
Annual Rent, unless Landlord expressly in writing sets forth another time period for the payment of such Additional Rent. 
 4.6
Prorated Rent. Rent for any period during the term hereof which is for less than one (1) month shall be a prorated portion of the MMR herein, based upon a thirty (30) day month. 

4.7 Place of Payment. Any Rent (as defined in Section 20.4 herein) payable according to the provisions of this Agreement
shall be paid to Landlord, at the address herein stated, without deduction or offset, in lawful money of the United States of America, which shall be legal tender at the time of payment, or to such other person or at such other place as Landlord may
from time to time designate in writing. 
 4.8 Late Charges. Tenant hereby acknowledges that late payment by Tenant to
Landlord of Rent due hereunder will cause Landlord to incur costs not contemplated by this Agreement, the exact amount of which will be extremely difficult to ascertain. Such costs include but are not limited to processing and accounting charges and
late charges which may be imposed upon Landlord by terms of any mortgage or trust deed covering the Premises. Accordingly, if any installment of Rent or of a sum due from Tenant shall not be received by Landlord or Landlord’s designee by the
fifth (5th) day of the month after the date such installment is due, then Tenant shall pay to Landlord a late charge, of five percent (5%) of the MMR per occurrence, after the first late payment in any consecutive twelve (12) month
period. The parties hereby agree that such late charges represent a fair and reasonable estimate of the cost that Landlord will incur by reason of the late payment by Tenant. Acceptance of such late charges by the Landlord shall in no event
constitute a waiver of Tenant’s default with respect to such overdue amount, nor prevent Landlord from exercising any of the other rights and remedies granted hereunder. 
 4.9 Accord and Satisfaction. No payment by Tenant or receipt by Landlord of a lesser amount of MMR, or Additional Rent shall be deemed to be other than a payment of the earliest due MMR or
Additional Rent, nor shall any endorsement or statement on a check or any letter accompanying any such check or payment be deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord’s right to
recover the balance of such MMR or Additional Rent or payment or pursue any other remedy available in this Agreement, at law or in equity. Landlord may accept any partial payment from Tenant without invalidation of any contractual notice required to
be given herein (to the extent such contractual notice is required) and without invalidation of any notice given or required to be given pursuant to applicable law. Landlord shall have the right to apply any payments first to Late Charges and
interest payable by Tenant, then to Additional Rent, then to MMR. 
 ARTICLE 5 

SECURITY DEPOSIT 

Tenant has deposited with Landlord the sum of One Hundred Eighty Three Thousand Five Hundred Thirty Eight and 30/100 Dollars ($183,538.30), which
represents the security deposit (“Security Deposit”). Said sum shall be held by 

  
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Landlord as security for Tenant’s faithful performance of the terms, covenants, and conditions of this Agreement. If Tenant defaults with respect to any provision of this Agreement,
including but not limited to the payment of Rent, Landlord may (but shall not be required to) use, apply, and retain all or any part of the Security Deposit for the payment of any Rent or any other sum in default, for the payment of any amount which
Landlord may spend or become obligated to spend by reason of Tenant’s default, to compensate Landlord for any other loss or damage which Landlord may suffer by reason of Tenant’s default (including without limitation damages for rent lost
after the termination of this Agreement and all other amounts recoverable under California Civil Code section 1951.2), or repair damage to the Premises caused by Tenant or for which Tenant is liable under this Agreement, or to clean the Premises
upon the termination of this Agreement. If any portion of the Security Deposit is so used or applied, Tenant shall, within five (5) days after written demand therefor, deposit with Landlord, in Immediate Funds, an amount sufficient to restore
the Security Deposit to its original amount and Tenant’s failure to do so shall be a material breach of this Agreement. Tenant shall not be entitled to receive interest on the Security Deposit and Landlord shall not be required to segregate the
Security Deposit from its general funds. Landlord shall refund the unused balance of the Security Deposit within thirty (30) days after the later of (i) Landlord’s recovery of possession of the Premises, or (ii) the termination
or expiration of this Agreement. Upon the termination of Landlord’s interest in this Agreement, Landlord shall transfer the Security Deposit to Landlord’s successor in interest. Tenant waives all rights under California Civil Code section
1950.7 to the extent inconsistent with this Agreement. At Landlord’s option, Tenant shall increase the amount of the Security Deposit to be equal to the then existing MMR. 
 ARTICLE 6 
 POSSESSION AND QUIET ENJOYMENT 

6.1 Possession. If Landlord, for any reason whatsoever, including a failure to obtain possession, cannot deliver possession of the
Premises to Tenant at the commencement of the term hereof, this Agreement shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom, nor shall the Expiration Date of the above term be in any way
extended; but in that event, all Rent shall be abated during the period between the Commencement Date and the time when Landlord delivers possession. 
 6.2 Quiet Enjoyment. Upon Tenant paying the Rent reserved hereunder and observing and performing all of the covenants, conditions, and provisions on Tenant’s part to be observed and performed
hereunder, Tenant shall have quiet enjoyment of the Premises for the entire term hereof, subject to all the provisions of this Agreement. 
 6.3 Non-Smoking. Tenant acknowledges that the Premises a non-smoking building, per local code or ordinance. Tenant covenants and warrants that it shall not, in accordance with Article 8 below and
Rule 19 in Article 26 below, allow or permit any smoking within the Premises or any portions of the Building. 
 ARTICLE 7

 SERVICES, ASSESSMENTS, RESERVES AND UTILITIES 

7.1 Services Provided. Tenant agrees to pay directly to the appropriate utility company all charges for utility services supplied
to the Premises. 
 7.2 Assessments. Tenant agrees to pay to Landlord, as Additional Rent, (i) the regular
assessments under any covenants, conditions and restrictions or imposed by any association thereunder encumbering the Premises, which regular assessments shall be paid together with Minimum Monthly Rent or on such less frequent schedule as Landlord
may require, and (ii) any special assessments imposed under any covenants, conditions and restrictions or imposed by any association thereunder encumbering the Premises, within fifteen (15) days after written demand therefore from
Landlord. 
 7.3 Increased Costs. Tenant shall pay any increases in service, insurance premiums, and utility costs
incurred as a result of Tenant’s occupation of the Premises. 
 7.4 Excess Costs. If Tenant requires utility service
in excess of that furnished or supplied for the use of the Premises, Tenant shall first procure the written consent of Landlord before making any changes to the Premises. If Landlord agrees to the changes, Tenant shall be responsible for any and all
costs associated with increasing utility service to the Premises. 
 7.5 Access. Tenant shall permit access to the
Premises during normal business hours to installers or repairmen of utility services. 
 7.6 Waiver of Liability.
Landlord shall not be liable for, and Tenant shall not be entitled to, any Rent reductions by reason the failure to furnish any utility services to the Premises whether such failure is caused by accident, breakage, repairs, strikes, lockouts, or
other labor disturbances or labor disputes of any character, or by any other cause, similar or dissimilar, beyond the reasonable control of Landlord. Landlord shall not be liable under any circumstances for a loss of or injury to property, however
occurring, through or in connection with or incidental to failure to furnish any of the foregoing. Without limiting the foregoing, Landlord shall not be in default hereunder or be liable for any damages directly or indirectly resulting from, or by
reason of (i) the installation, use or interruption of use of any equipment in connection with the furnishing of the foregoing utilities and services, (ii) failure of any such utilities or services, or (iii) the limitation,
curtailment, rationing or restriction on use of water or electricity, gas or any other form of energy or any other service or utility whatsoever serving the Premises. Furthermore, Landlord and Tenant shall be entitled to (and, if Landlord so elects,
Tenant shall be obligated to) cooperate in a reasonable manner with the requirements of national, state or local governmental agencies or utilities suppliers in reducing energy or other resource consumption. 

  
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 7.7 HVAC Disclaimer. Tenant acknowledges that the functioning of heating, ventilating
and air conditioning systems is subject to variation from time to time, that such functioning can be effected by, among other things, outside temperature conditions, sunlight through windows at various times during the day, and heat-generating
machines, lighting and equipment, and that Landlord cannot be responsible for room temperatures and is not responsible for maintaining any particular temperature in all or any portion of the Premises. 

7.8 Utility Facilities Overload. Tenant may not install upon the Premises any electrical equipment which overloads the utility
facilities servicing the Premises; if Tenant does so, Tenant, at its own expense, shall make whatever changes are necessary to comply with the requirements of Landlord, the insurance underwriters, and any appropriate utility or governmental
authority. 
 7.9 Utility Disruption. Landlord shall not be liable in damages or otherwise for any loss, damage or
expense that Tenant may sustain or incur by reason of any change, failure, interference, interruption or defect in the electric and/or other utility services provided to the Premises and/or the Building. No such change, failure, interference,
interruption or defect shall entitle Tenant to terminate this Agreement or to abate the payments Tenant is required to make under this Agreement. 
 7.10 Reserves. Landlord shall have the right to impose, and if imposed Tenant shall pay as Additional Rent at the same time as payment of Minimum Monthly Rent, monthly impound funds towards the
cost of replacement of HVAC units at the Building, reroofing of the Building, repainting of the exterior of the Building, and slurry and stripe of the parking lot area of the Premises, all based on Landlord’s determination of the anticipated
costs thereof and the reasonable useful life of each such component. 
 ARTICLE 8 

USE AND COMPLIANCE WITH THE LAW 
 8.1 Use. Tenant shall use the Premises for the purpose stated in Section 1.10 of the Agreement and shall not use or permit the Premises to be used for any other purpose without the prior
written consent of Landlord, which consent may be withheld in the sole discretion of Landlord. Tenant shall not do or permit anything to be done in or about the Premises, nor bring or keep anything therein which will in any way increase the existing
rate of or affect any fire or other insurance upon the Building, or any of its contents, or cause cancellation of any insurance policy covering the Building or any part thereof or any of its contents. Tenant shall not do or permit anything to be
done in or about the Premises, including the parking and loading areas of the Building and the property, which will in any way obstruct or interfere with the rights of other tenants or occupants of the Building or injure or annoy them, or use or
allow the Premises to be used for any improper, immoral, unlawful, or objectionable purpose, nor shall Tenant cause, maintain, or permit any nuisance in, on, or about the Premises. Tenant shall not permit the Premises to be used for any activity
that causes extraordinary wear and tear within the Premises. Tenant shall not commit or suffer to be committed any waste in or upon the Premises. Tenant shall honor the terms of all recorded covenants, conditions, and restrictions relating to the
property on which the Premises are located. 
 8.2 Compliance with Law. Tenant shall not use the Premises or permit
anything to be done in or about the Premises which will in any way conflict with any law, statute, ordinance, or governmental rule or regulation now in force or which may hereafter be enacted or promulgated. Tenant shall, at its sole cost and
expense, promptly comply with all laws, statutes, ordinances, and governmental rules, regulations, or requirements now in force or which may hereafter be in force and with the requirements of any board of fire insurance underwriters or other similar
bodies now or hereafter constituted, relating to, or affecting the condition, use, or occupancy of the Premises, excluding structural changes not related to or affected by Tenant’s improvements or acts. The judgment of any court of competent
jurisdiction or the admission of Tenant in any action against Tenant, whether Landlord be a party thereto or not, that Tenant has violated any law, statute, ordinance, or governmental rule, regulation, or requirement, shall be conclusive of that
fact as between Landlord and Tenant. 
 ARTICLE 9 
 HOLD HARMLESS 
 9.1 Assumption of Risk. Tenant as a material
part of the consideration of this Agreement hereby assumes all risk of damage to property or injury to persons in, upon, or about the Premises from any cause other than Landlord’s sole active negligence or willful misconduct, and Tenant hereby
waives all claims in respect thereof against Landlord. 
 9.2 Indemnity. Tenant shall indemnify and hold Landlord
harmless against and from any and all liability, claims, judgments, or demands arising from Tenant’s use of the Premises for the conduct of its business or from any activity, work, or other thing done, permitted, or suffered by Tenant in, on,
or about the Building, or arising from any breach or default in the performance of any obligation on Tenant’s part to be performed under the terms of this Agreement, or arising from any act or negligence of Tenant or any officer, agent,
employee, guest, or invitee of Tenant, save and except claims or litigation arising through the sole active negligence or sole willful misconduct of Landlord, and from all and against all costs, attorneys’ fees, expenses and liabilities
incurred by reason of any such claim or any action or proceeding brought thereon, and in any case, action, or proceeding brought against Landlord by reason of any such claim. Tenant upon notice from Landlord shall defend the same at Tenant’s
expense by counsel reasonably satisfactory to Landlord. 

  
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 9.3 Waiver of Liability. Landlord and its agents shall not be liable for any damage
to property entrusted to employees of the Building, nor for loss or damage to any property by theft or otherwise, nor for any injury or damage to persons or property resulting from fire, explosion, falling plaster, steam, gas, electricity, water, or
rain which may leak from any part of the Building or from the pipes, appliances, or plumbing works therein or from the roof, street, or subsurface, or from any other place resulting from dampness or any other cause whatsoever, unless caused by or
due to the active negligence or willful misconduct of Landlord. Landlord or its agents shall not be liable for interference with the light or other incorporeal hereditaments, loss of business or loss or any income therefrom by Tenant, loss from
damages to goods, wares, merchandise or other property of Tenant, nor shall Landlord be liable for any latent defect in the Premises or in the Building. Tenant shall give prompt notice to Landlord in case of fire or accidents in the Premises or in
the Building, or of defects therein, or in the fixtures or equipment. 
 ARTICLE 10 

TENANT’S INSURANCE 
 10.1 Tenant’s Insurance. Tenant shall, at its sole cost and expense, commencing on the Rent Commencement Date and continuing thereafter during the term, procure, pay for, and keep in full
force and effect the following types of insurance, in at least the amounts specified below subject to increase as Landlord may reasonably require from time to time, and in the form specified below. 

 

	 	(a)	Commercial liability insurance with a combined single limit coverage limit of not less than One Million Dollars ($1,000,000) covering bodily injury, personal
injury, death and property damage liability per occurrence and in the aggregate of not less than Two Million Dollars ($2,000,000), or the current limit carried by Tenant, whichever is greater, insuring Landlord and Tenant against any and all
liability with respect to the Premises or arising out of the maintenance, use, or occupancy of the Premises, or related to the exercise of any rights of Tenant pursuant to this Agreement. All such insurance shall specifically insure the performance
by Tenant of the indemnity agreement set forth in Section 9.2 above. Further, all such insurance shall include, but not be limited to, blanket contractual, cross-liability, and severability of interest clauses, products/completed operations,
broad form property damage and independent contractors. In addition, at Landlord’s option, Tenant shall increase such coverage limits to comply with industry standards in effect from time to time. 

 

	 	(b)	Workers’ compensation coverage, as required by law, together with employer’s liability coverage in an aggregate amount of not less than One Million Dollars
($1,000,000) or any greater amount required under California laws from time to time in effect, and a waiver by Tenant’s insurer of any right of subrogation against Landlord by reason of any payment pursuant to such coverage.

  

	 	(c)	Business interruption or loss of income insurance in an amount not less than Five Million Dollars ($5,000,000). 

 

	 	(d)	Rental value insurance, payable to Landlord, insuring the loss of the full Rent for one year with an extended period of indemnity for an additional 180 days.

  

	 	(e)	Plate glass insurance covering all plate glass on the Premises, if any, at full replacement value. So long as Tenant maintains a minimum net worth of Five Million
Dollars ($5,000,000) Tenant shall have the option either to insure the risk or to self-insure. 

  

	 	(f)	Insurance covering Tenant’s leasehold improvements, alterations permitted under Article 12, trade fixtures, merchandise and personal property (“covered
items”) from time to time in, on, or about the Premises, in an amount not less than full replacement value, providing protection against earthquakes (if deemed necessary by Landlord in Landlord’s sole judgment) and any peril included
within the classification “fire and extended coverage,” sprinkler damage, vandalism, malicious mischief, and such other additional perils as covered in a standard “all risk” insurance policy. Upon the occurrence of a covered
casualty, any policy proceeds shall be used for the repair or replacement of the property damaged or destroyed unless this Agreement shall terminate under the provisions of Article 14. In addition, Tenant shall maintain comprehensive boiler and
machinery coverage on all heating, air-conditioning, and ventilation equipment, electrical, mechanical, and other systems serving the Premises in an amount not less than the replacement value thereof. Replacement values shall be determined no less
frequently than annually at Tenant’s expense by an engineer selected by the insurance carrier issuing the applicable policy. It is understood and acknowledged by Tenant that Landlord shall have no liability whatsoever for any damage or loss to
any of Tenant’s “covered items” as specified in this Article. 

  

	 	(g)	Commercial automobile liability and property insurance insuring all owned, non-owned, and hired vehicles used in the conduct of Tenant’s business and operated upon
or parked within the Premises with a combined single limit of not less than One Million Dollars ($1,000,000) covering bodily injury, death, and property damage per occurrence and in the aggregate. 

10.2 Policy Form. All policies of insurance provided for herein shall comply with the following: 

 

	 	(a)	policies must be issued by insurance companies with general policy holder’s ratings of not less than A-, and financial ratings of not less than Class VII, as rated
in the most current available “Best’s Key Rating Guide,” and which are qualified to do business in the state where the Premises is situated; 

  
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	 	(b)	any policies issued on a “Claims Made” basis must be renewed for a 3-year period after the termination of this Agreement or provide for a 3-year tail
reporting period if coverage is not renewed; 

  

	 	(c)	all such policies shall name Landlord, Landlord’s property manager, and Landlord’s mortgagee(s) or beneficiary(ies) as additional insureds (or, in the case of
casualty policies, shall name Landlord, Landlord’s property manager, and Landlord’s mortgagee(s) or beneficiary(ies) as loss payees), and all such policies shall be for the mutual and joint benefit and protection of Landlord, Tenant,
Landlord’s property manager, and Landlord’s mortgagee(s) or beneficiary(ies); and 

  

	 	(d)	All public liability, property damage, and other casualty policies shall be written as primary policies and any insurance carried by Landlord shall not be contributing
with such policies. 

 Executed copies of the policies of insurance, with certificates indicating that such insurance is currently
in force, or certificates thereof, shall be delivered to Landlord prior to Tenant, its agents, or employees entering the Premises for any purpose. Thereafter, upon Landlord’s request, executed copies of renewal policies or certificates thereof
shall be delivered to Landlord within thirty (30) days prior to the expiration of the term of each policy. If Tenant delivers a certificate of insurance to Landlord pursuant to either of the foregoing two sentences, Tenant shall, upon
Landlord’s request, deliver to Landlord an executed copy of the underlying policy. Whether or not Landlord requires Tenant to provide a copy of the underlying policies of insurance covered under this Article, Tenant shall provide Landlord with
an endorsement to each such policy, appropriately issued by Tenant’s insurance company to the effect that (a) the insurance is primary and any insurance carried by Landlord shall not be contributing with such policies, and
(b) Landlord, Landlord’s property manager, and Landlord’s mortgagee(s) or beneficiary(ies) are named as additional insureds or loss payees, as applicable, and (c) the insurer will give Landlord at least thirty
(30) days’ written notice in advance of any cancellation or lapse, or of the effective date of any reduction in the amounts, of insurance. 
 10.3 Blanket Policies. Notwithstanding anything to the contrary contained in this Article, Tenant’s obligations to carry insurance may be satisfied by coverage under a so-called blanket policy
of insurance, provided that the requirements set forth in this Agreement are otherwise satisfied and any such blanket policy contains a provision that the limit(s) of the policy shall apply independently to the Premises and the activities conducted
thereon in amounts not less than those amounts required by this Article 10. 
 10.4 Increased Premiums Due to Use of
Premises. Tenant shall not do any act in or about the Premises which will tend to increase the insurance rates upon the Building. Tenant agrees to pay to Landlord upon demand the amount of any increase in premiums for insurance resulting to
Landlord or any other tenant of the Building from Tenant’s use of the Premises, whether or not Landlord shall have consented to such use on the part of Tenant. 
 10.5 Tenant’s Building Insurance Requirement. In the event Tenant is the sole occupant of the Building in which the Premises are a part, then Tenant, during the term shall maintain in effect a
policy or policies of insurance covering the Building, in an amount not less than one hundred percent (100%) of the full replacement cost (exclusive of the cost of excavations, foundations, and footings), or the amount of insurance
Landlord’s mortgagee(s) or beneficiary(ies) may require Landlord to maintain, whichever is the greater, providing protection against any peril generally included in the classification “fire and extended coverage,” and such other
additional perils as covered in a standard “Special Risk” insurance policy, with earthquake coverage insurance if deemed necessary by Landlord in Landlord’s sole judgment or if required by Landlord’s mortgagee(s) or
beneficiary(ies), or by any governmental agency and including a rental interruption endorsement, if available (“Landlord’s Insurance”). Tenant’s obligation to carry insurance may be brought within the coverage of any so-called
blanket policy or policies of insurance carried and maintained by Landlord. However, in the event the Building in which the Premises are a part is occupied by other occupants, then Landlord shall maintain such policy(ies), and Tenant agrees to pay
to Landlord, as Additional Rent, its share of the cost of Landlord’s insurance (plus any finance charges payable by Landlord to the insurance carrier with respect thereto). The cost for any partial year of the term shall be prorated. Tenant
shall pay its share of such premiums (plus finance charges) in advance based on estimates made by Landlord from time to time within ten (10) days after Tenant’s receipt of Landlord’s written estimate. Landlord shall revise such
estimates within a reasonable time following the end of each year on the basis of the actual premiums paid for such year. Thereafter, Tenant shall pay its proportionate share of the adjusted estimated premiums in equal monthly installments. If the
premiums for the previous year were underestimated, Tenant shall pay its share of the deficiency along with the monthly installment of MMR next due. Any excess payment shall be credited against Tenant’s payment of estimated premiums next due.

 10.6 INTENTIONALLY DELETED. 
 10.7 Waiver of Subrogation. Neither Landlord nor Tenant shall be liable to the other or to any insurance company (by way of subrogation or otherwise) insuring the other party for any direct or
consequential loss or damage to any Building, structure or other tangible property, or any resulting loss of income, or losses under workers’ compensation laws and benefits, even though such loss or damage might have been occasioned by the
negligence of such party, its agents or employees, if any such loss or damage is covered by insurance benefiting the party suffering such loss or damage. To the extent it may be necessary, Landlord and Tenant agree to obtain from the insurer(s)
issuing property policies required hereunder endorsements which shall provide that the insurer waives all right of recovery by way of subrogation against the other party. Notwithstanding the foregoing, (i) nothing contained in this
Section 10.7 shall absolve Tenant of its obligations of maintenance and repair, payment of insurance deductibles, self-insured retentions and co-insurance, or indemnification obligations contained elsewhere in this Agreement, and (ii) in
the event that any loss is due to the act, omission or negligence or willful misconduct of Tenant or its agents, employees, contractors, subtenants, guests or invitees, Tenant’s liability insurance shall be primary and shall cover all losses
and damages prior to any other insurance. 

  
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 10.8 Failure by Tenant To Maintain Insurance. If Tenant neglects to secure and
maintain insurance policies complying with the provisions of this Article, Landlord may secure the appropriate insurance policies and Tenant shall pay, upon demand, the cost of same to Landlord, plus a service fee equal to fifteen percent
(15%) of the total annual premium cost of the policy or policies, as Additional Rent. Landlord, or an affiliate of Landlord, may act as an insurance agent or broker in such transactions and will be paid as a result of the placement of such
insurance. 
 ARTICLE 11 
 REPAIRS AND MAINTENANCE 
 11.1 Tenant’s Repairs and
Maintenance. Tenant shall, at Tenant’s sole expense, keep the Premises (both exterior and interior), utility installations, and alterations in good order, condition and repair (whether or not the portion of the Premises requiring repairs,
or the means of repairing the same, are reasonably or readily accessible to Tenant, and whether or not the need for such repairs occurs as a result of Tenant’s use, any prior use, the elements or the age of such portion of the Premises),
including, but not limited to, all equipment or facilities, such as plumbing, heating, ventilating, air-conditioning, electrical, lighting facilities, boilers, pressure vessels, fire protection system, fixtures, walls (interior and exterior),
foundations, ceilings, roofs, floors, windows, doors, gate, roll-up doors, railings, plate glass, skylights, roof insulation, roof foil paper, landscaping, driveways, parking lots including slurry and striping, fences, retaining walls, signs,
sidewalks and parkways located in, on, or adjacent to the Premises. Tenant, in keeping the Premises in good order, condition and repair, shall exercise and perform good maintenance practices, specifically including the procurement and maintenance of
the service contracts required by Section 11.1(a) below. Tenant’s obligations shall include restorations, replacements or renewals when necessary to keep the Premises and all improvements thereon or a part thereof in good order, condition
and state of repair. Tenant shall, during the term of this Agreement, keep the exterior appearance of the Building in a first-class condition consistent with the exterior appearance of other similar facilities of comparable age and size in the
vicinity, including, when necessary, the exterior repainting of the Building. 
 (a) Service Contracts. Tenant shall, at Tenant’s
sole expense, procure and maintain contracts with licensed vendors approved by Landlord, with copies to Landlord, in customary form and substance for, and with contractors specializing and experienced in the maintenance of the following equipment
and improvements, if any, if and when installed on the Premises: (i) HVAC equipment, (ii) boiler, and pressure vessels, (iii) fire extinguishing systems, including fire alarm and/or smoke detection and/or fire suppression and/or EFS
fire systems, (iv) landscaping and irrigation systems, (v) roof covering and drains, (vi) driveways and parking lots, (vii) roll-up doors (viii) basic utility feed to the perimeter of the Building, and (ix) any other
equipment, as required by Landlord. Tenant agrees at all times, from and after the Rent Commencement Date at its own cost and expense, to repair, replace, and maintain in good and tenantable condition, normal wear and tear excepted, the Premises and
every part thereof (except that portion of the Premises to be maintained by Landlord as hereinafter provided), and including without limitation all fixtures, carpeting, interior walls, and wall coverings, floor covering, plumbing repairs,
air-conditioning, and heating equipment, interior electrical repairs (including replacement of light bulbs and ballasts), carpet and other floor covering repairs, Tenant’s equipment therein, all Tenant’s signs, locks and closing devices,
roll-up doors, and all window sash, blinds, casement, or frames, such items of repair, maintenance, alteration and improvement, or reconstruction as may at any time or from time to time be required by a governmental agency having jurisdiction over
the Premises or any part thereof. All glass, both exterior and interior, is at the sole risk of Tenant, and any glass broken shall be promptly replaced by Tenant with glass of the same kind, size, and quality. 

(b) Replacement. Subject to Tenant’s indemnification of Landlord as set forth in Sections 9.2 and 24.3, and without relieving Tenant of
liability resulting from Tenant’s failure to exercise and perform maintenance practices described in Section 11.1 (a), if the items in 11.1(a) above cannot be repaired other than at a cost which is in excess of 50% of the cost of replacing
such item, then such item shall be replaced by Landlord, and the cost thereof shall be borne as follows: (i) if the replacement is covered under a warranty or Landlord has impounded from Tenant during the Term the cost of replacement of such
item, then the cost shall be borne by Landlord up to the amount of the warranty payment or impound payments received; or (ii) if Landlord has not collected from Tenant impound reserves for the replacement of such item, or if the replacement is
required before the expiration of the useful life of such item as reasonably determined by Landlord’s service contractors due to damage, misuse, failure to properly maintain, or other actions or inactions by Tenant or its agents, employees,
contractors, subtenants, guests or invitees (and even though Landlord has collected impound reserves from Tenant for such replacement), then the entire cost of such replacement shall be borne by Tenant. 

11.2 Landlord’s Repair and Maintenance. Subject to the provisions of Article 14, it is intended by the Parties hereto that
Landlord have no obligation, in any manner whatsoever, to repair and maintain the Premises, or the equipment therein, all of which obligations are intended to be that of the Tenant. It is the intention of the Parties that the terms of this Agreement
govern the respective obligations of the Parties as to maintenance and repair of the Premises, and they expressly waive the benefit of any statute now or hereafter in effect to the extent it is in consistent with the terms of this Agreement.

 11.3 Failure to Repair and/or Maintain. If Tenant refuses or neglects to make repairs and/or maintain the Premises, or
any part thereof, in a manner reasonably satisfactory to Landlord, Landlord shall have the right, upon giving Tenant reasonable written notice of its election to do so, to make such repairs or perform such maintenance on behalf of and for the
account of Tenant. In such event such work shall be paid for by Tenant as Additional Rental no later than ten (10) days after Tenant’s receipt of a bill therefor together with an administrative fee in an amount equal to ten percent
(10%) of the costs so incurred, as well as interest thereon at the Default Rate (as defined in Section 20.6 below). 

  
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 11.4 Surrender of the Premises. Upon any surrender of the Premises, Tenant shall
redeliver the Premises to Landlord in good order, condition, and state of repair, ordinary wear and tear and insured casualty damage excepted. Any construction within the Premises must be approved by the appropriate governmental authorities and
documented by issued permits. Any construction which is not permitted must be returned to the non-permitted state upon surrender to Landlord. All improvements made to the Premises by Tenant, including but not limited to, ceilings, rooms, light
fixtures, wall coverings, floor coverings and partitions and other items comprising Tenant’s Work, but excluding Removable Personal Property, shall become, at Landlord’s sole discretion, the property of Landlord upon the expiration or
earlier termination of this Agreement. Alternatively, if Landlord so conditions its consent to such improvements or if such improvements were installed without the consent of Landlord, Landlord may require Tenant to remove, at Tenant’s sole
cost and expense, any and all improvements, trade fixtures and personal property, including, but not limited to, ceilings, rooms, light fixtures, wall coverings, additional or modified fire systems and related equipment such as an EFS fire system
and fire pump, warehouse racking or warehouse equipment fixed to the premises, floor coverings and partitions and other items comprising Tenant’s Work, to repair any damage to the Premises caused by such removal, and to restore the Premises to
substantially the condition it was in on the date of delivery of the Premises by Landlord to Tenant. Any offices removed from the Premises must be restored to substantially the same condition as they were on the date of delivery of the Premises by
Landlord to Tenant and approved by Landlord. Any penetrations or attachment to the concrete slab or floor shall be filled by a method approved by the Landlord including refinishing and resealing the floor to a condition solely approved by the
Landlord. Any HVAC or air conditioning equipment relocated or removed from the roof shall be replaced or reinstalled by the Tenant at Landlord’s sole discretion. All low voltage wiring shall be left in tact and not cut. All wall outlets, jacks,
and plates shall be left in place and white in color. Upon the expiration or earlier termination of this Agreement, Tenant shall surrender the Premises broom clean, in good condition and repair, reasonable wear and tear and casualty damage excepted.
For purposes of this Agreement and particularly this Section 11.4, “reasonable wear and tear” shall (a) not include any damage or deterioration that could have been prevented by good maintenance practice or by Tenant performing
all of its maintenance, repair and replacement obligations under this Agreement, including without limitation under Section 11.1 above, and (b) mean and require that, at a minimum, there must be not less than five (5) years of
remaining useful life for each of the roof of the Building, the heating, ventilating and air conditioning systems, the parking lot, and the exterior paint on the Building, as of the expiration or earlier termination of the Term, all as reasonably
determined by Landlord, and all landscaping must be alive. 
 Should Tenant hold over in the Premises beyond the expiration or earlier
termination of this Agreement, the holding over shall not constitute a renewal or extension of this Agreement or give Tenant any rights under this Agreement. In such event, Landlord may, in its sole discretion, treat Tenant as a tenant at will,
subject to all of the terms and conditions in this Agreement, except that MMR shall be an amount equal to one and one-quarter (1-1/4) times the sum of MMR which was payable by Tenant for the twelve (12)-month period immediately preceding the
expiration or earlier termination of this Agreement. In the event Tenant fails to surrender the Premises upon the expiration or earlier termination of this Agreement, Tenant shall indemnify and hold Landlord harmless from all loss or liability which
may accrue therefrom including, without limitation, any claims made by any succeeding tenant founded on or resulting from Tenant’s failure to surrender. Acceptance by Landlord of any MMR or Additional Rent after the expiration or earlier
termination of this Agreement shall not constitute a consent to a hold-over hereunder, constitute acceptance of Tenant as a tenant at will, or result in a renewal of this Agreement. 
 Tenant is allowed to install equipment and racking. Upon surrender Tenant shall be responsible for repairing any damage to the floor to fill in any holes, using a two (2) part epoxy, approved by
Landlord prior to such repair. 
 11.5 Landlord’s Entry. The Tenant agrees to permit the Landlord and its authorized
representatives to enter the Premises In accordance with the rights set forth in Article 15 below in connection with the rights and obligations of Landlord set forth in this Article 11. No exercise by the Landlord of any rights herein reserved shall
entitle Tenant to any damage for any injury or inconvenience occasioned thereby nor to any abatement of Rent. In the event Landlord makes or causes any such repairs to be made or performed, as provided for herein Tenant shall pay the cost thereof to
Landlord forthwith, as Additional Rent upon receipt of a bill therefor, except for that work as provided herein which will be at the sole cost and expense of Landlord. Nothing herein contained shall imply any duty on the part of the Landlord to do
any such work which, under any provision of this Agreement, Tenant may be required to do, nor shall it constitute a waiver of Tenant’s default in failing to do the same. 
 ARTICLE 12 
 IMPROVEMENTS, ALTERATIONS, AND ADDITIONS

 12.1 Alterations. Tenant shall not make or suffer to be made any alterations, additions, or improvements to or of
the Premises or any part thereof without Landlord’s prior written consent, which Landlord may withhold in its sole discretion, except that Landlord’s consent shall not be required for non-structural alterations costing less than fifty
thousand dollars ($50,000.00) that are not visible from the exterior of the Premises. All alterations, additions, and improvements to the Premises, including but not limited to floor coverings, wall coverings, window coverings, paneling, and
built-in cabinet work, but excluding movable furniture, trade fixtures, and other unattached personal property, shall on the expiration of the Term become a part of the realty and belong to Landlord, and shall be surrendered with the Premises
whether or not installed with Landlord’s consent. Notwithstanding the foregoing, Tenant shall, at its sole cost and expense, remove any alterations, additions, or improvements designated for removal by Landlord upon written notice given to
Tenant within thirty (30) days after the termination of this Agreement. If Tenant receives any such designation at least ten (10) days before the termination of this Agreement, the removal shall be completed prior to termination. Otherwise
the removal shall be completed within ten (10) days after Tenant’s receipt of Landlord’s designation. Tenant shall repair any damage to the Premises caused in connection with the removal of any items pursuant to this Article and
restore 

  
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all damaged areas to a condition consistent with the surrounding finish. Landlord’s consent to any alterations, additions, or improvements, when given, shall be deemed to be conditioned upon
Tenant acquiring any governmental approvals or permits which may be required, all at Tenant’s sole cost and expense. All alterations, additions, and improvements shall be made by Tenant at Tenant’s sole cost and expense by licensed
contractors and in compliance with all laws and regulations. If requested by Landlord, Tenant shall provide a Payment and Performance Bond for Landlord Approved Construction over One Hundred Thousand Dollars ($100,000). Each contractor must first be
approved in writing by Landlord. Tenant shall cause its contractors to submit to Landlord prior to entering the Premises certificates and endorsements evidencing liability insurance meeting the requirements for Tenant’s commercial generally
liability policy set forth in Article 10 hereof and workers compensation and employer’s liability coverage as required by law. Each commercial general liability policy shall name as additional insureds Landlord, Landlord’s property
manager, and Landlord’s Mortgagees. 
 12.2 Signs and Other Displays. Tenant shall not, without Landlord’s prior
written consent, which Landlord may withhold in its sole discretion, display any signs, advertising placards, names, insignia, trademarks, descriptive material, or any similar item (i) on the exterior of the Premises, or (ii) inside the
Premises within twenty-four inches (24”) of any window or exterior door. Once given, Landlord may revoke its consent upon thirty (30) days’ advance written notice. Any sign request shall be made in accordance with the application
process in place at the time of the request, and all such signs shall be in compliance with all covenants and restrictions encumbering the Premises, and all conditions and requirements of all applicable governmental authorities. Prior to
Landlord’s approval, Tenant shall submit to Landlord all plans and specifications for the installation of any signage. The indemnity provisions of Section 9.2 above shall apply against any loss, cost or expense (including reasonable
attorneys fees) which may be sustained or incurred by Landlord, and all liability for any property damage or bodily injuries in any manner related to, Tenant’s installation, maintenance, operation or removal of any signage. Tenant agrees to pay
all taxes, permit fees, insurance premiums, and repairs to the area where any signage has been installed resulting from the installation of such signage. If any sign is placed on or about the Premises without the consent of Landlord, Landlord may,
if the same is not removed and any damage caused by such removal repaired by Tenant within five (5) days following written demand by Landlord that Tenant remove such signs, remove such signs and Tenant shall pay Landlord the cost of removal
together with interest at the Default Rate (as defined in Section 20.6 below) from date of expenditure until payment is made in full. Tenant shall pay all such amounts within ten (10) days after Landlord invoices Tenant for such costs.
Tenant shall pay all costs of permitted signs and all costs and expenses of installation, alteration, repair and maintenance of such signs. Tenant shall repair any damage which alteration, renovation or removal of its signs may cause during the
Term. Tenant, at its expense, shall remove its signs from the Premises at the termination or expiration of this Agreement and repair any damage to the Premises caused by such removal. 

ARTICLE 13 

LIENS 
 Tenant shall keep
the Premises free from any liens arising out of any work performed, materials furnished, or obligations incurred by Tenant. Landlord may require, at Landlord’s sole option, that Tenant shall provide to Landlord at Tenant’s sole cost and
expense a lien and completion bond in an amount equal to one and one-half (1-1/2) times any and all estimated cost of any improvements, additions, or alterations in the Premises to protect Landlord against any liability for mechanics’ and
materialmen’s liens and to assure completion of the work. Tenant shall give Landlord not less than ten (10) days’ notice in writing prior to the commencement of the improvements and Landlord shall have the right to post a Notice of
Non-Responsibility in or on the Premises, as provided by law, and the costs incurred by Landlord in procuring and recording such Notice of Non-Responsibility shall be immediately payable by Tenant to Landlord as Additional Rent. If Tenant disputes
the correctness or validity of any claim of lien, Tenant shall, within ten (10) days after written request by Landlord, record a statutory lien release bond as will release said property from the lien claimed and thereafter renew such bond as
required. 
 ARTICLE 14 
 RECONSTRUCTION 
 14.1 Landlord’s Right to Terminate. If the
Premises are damaged by fire or other casualty, Landlord may terminate this Agreement upon written notice to Tenant given within one hundred twenty (120) days after the casualty if: 

 

	 	(a)	The cost of repair is not fully covered by the net proceeds of the policy for Landlord’s Property Insurance (other than any deductible or self-insured retention)
that are actually received by Landlord and made available by its Mortgagees, unless within thirty (30) days after Landlord’s notice of termination, Tenant pays to Landlord the full amount of the shortfall needed to complete the
repair; or 

  

	 	(b)	The cost of repair exceeds ten percent (10%) of the full replacement cost; or 

 

	 	(c)	Landlord reasonably estimates that it will take longer than 180 days to complete the repairs of the Premises. 

14.2 End of Term Damage. If the Premises are materially damaged by fire or other casualty during the final two (2) years of
the Term, either party may terminate this Agreement upon notice to the other given within one hundred twenty (120) days after the casualty, provided that this Agreement shall not terminate if Tenant possesses an unexercised option to extend the
Term for at least two (2) years and exercises the option within thirty (30) days after the casualty. For purposes of this section, damage is “material” if the cost of repair exceeds Two Thousand Dollars ($2,000) per month
remaining in the Term at the time of the casualty, with a proration for partial months. 

  
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 14.3 Obligation to Repair. If this Agreement is not terminated pursuant to this
Article following any casualty damage to the Premises, then Landlord shall repair, reconstruct, and restore the basic shell of the Premises only,, and Tenant shall, at its expense, replace or fully repair all Tenant’s personal property, trade
fixtures, utility installations, interior improvements and alterations existing at the time of such damage. If the Premises are to be repaired in accordance with the foregoing, (i) Landlord shall make available to Tenant any portion of
insurance proceeds it receives which are allocable solely to any interior improvements installed at the inception of this Agreement, and (ii) Tenant shall fully cooperate with Landlord in removing Tenant’s personal property, trade
fixtures, and any debris from the Premises to facilitate the making of repairs. Landlord shall attempt in good faith to commence the repair, reconstruction, and restoration within six (6) months after the casualty, subject to force majeure, and
shall prosecute the same diligently to completion. Under no circumstances shall Landlord be required to repair any casualty damage to property installed in the Premises by Tenant. Upon the substantial completion of Landlord’s repairs, Tenant
shall promptly commence, at its sole cost, the repair, reconstruction, and restoration of the remainder of the Premises. 
 14.4
Rent Abatement. If the Premises are materially damaged by casualty (except for casualty damage caused by the negligence or intentional misconduct of Tenant or its employees, agents, or independent contractors), and as a result of the casualty
all or a portion of the Premises is rendered unusable for the operation of Tenant’s business, MMR shall proportionately abate, with the abatement percentage equal to the ratio which the Rentable Area of the Premises rendered unusable bears to
the total Rentable Area of the Premises immediately before the casualty. The abatement shall commence as of the date of the casualty and continue until the earlier of the date on which Tenant operates its business from the damaged area or fifteen
(15) days after the substantial completion of Landlord’s repairs. 
 14.5 No Compensation. Except as expressly
provided in this Article, Tenant shall have no claim for, and shall not be entitled to, any compensation from Landlord for damages for the loss of the use of the whole or any part of the Premises or of Tenant’s personal property, or for any
inconvenience or annoyance occasioned by the damage or by any repair, reconstruction, or restoration. If this Agreement is terminated pursuant to this Article 14, Landlord shall, subject to the rights of any Mortgagees, be entitled to receive and
retain all insurance proceeds resulting from or attributable to such damage or destruction, except for proceeds payable under policies obtained by Tenant which specifically insure Tenant’s personal property and trade fixtures. 

14.6 Waiver of Termination Rights. Landlord and Tenant waive any statutory or common-law right to terminate this Agreement by
reason of casualty damage to the Premises. 
 ARTICLE 15 
 ENTRY BY LANDLORD 
 Landlord may, but shall not be obligated to, enter the
Premises upon reasonable notice (except in emergency, in which case no notice shall be required) and without any abatement of Rent: (a) to examine the Premises; (b) to perform any obligation or exercise any right or remedy of Landlord
under this Agreement; (c) to make repairs, alterations, improvements, and additions to the Premises as Landlord deems necessary or desirable; (d) to perform work necessary to comply with laws, ordinances, rules, or the regulations of any
governmental authority or of any insurance underwriter; (e) to perform work that Landlord deems necessary to prevent waste or deterioration in connection with the Premises; (f) to show the Premises to prospective or actual purchasers,
tenants, Mortgagees, investors, and insurers; (g) to post notices of non-responsibility; and (h) for any other purpose permitted by law. In entering the Premises pursuant to this Article, Landlord may take thereon any reasonably required
materials. Landlord may erect scaffolding and other necessary structures around and within the Premises where reasonably required by the character of any work to be performed, always providing that the entrance to the Premises shall not be blocked
thereby, and further providing that Landlord shall use reasonable efforts, in light of expense and practicality, to minimize any interference with Tenant’s business. Tenant hereby waives any claim for damages or for any injury or inconvenience
to or interference with Tenant’s business, any loss of occupancy or quiet enjoyment of the Premises, and any other loss occasioned thereby. Any entry to the Premises obtained by Landlord by any of said means or otherwise shall not under any
circumstances be construed or deemed to be a forcible or unlawful entry into, or a detainer of, the Premises or an eviction of Tenant from the Premises or any portion thereof. During the six (6) months prior to the expiration of the Term,
Landlord may place upon the Premises leasing and/or for sale notices, which Tenant shall permit to remain without molestation. 

ARTICLE 16 

TAXES ON TENANT’S PROPERTY 
 16.1 Personal Property Taxes. Tenant shall be liable for and shall pay, at least ten (10) days before delinquency, all taxes levied against any person, property or trade fixtures placed by
Tenant in or about the Premises. If any such taxes on Tenant’s personal property or trade fixtures are levied against Landlord or Landlord’s property or if the assessed value of the Premises is increased by the inclusion therein of a value
placed upon such personal property or trade fixtures of Tenant and if Landlord, after written notice to Tenant, pays the taxes based upon such increased assessment, which Landlord shall have the right to do regardless of the validity hereof, but
only under proper protest if requested by Tenant, Tenant shall, upon demand, repay to Landlord the taxes so levied against Landlord, or the portion of such taxes resulting from such increase in the assessment. 

16.2 Real Property Taxes. As used herein, the term “Real Property Taxes” shall include any form of assessment; real
estate, general, special, ordinary or extraordinary, or rental levy or tax (other than inheritance, personal income or estate taxes); improvement bond; and/or license fee imposed upon or levied against any legal or equitable interest of Landlord in
the Premises, Landlord’s right to other income therefrom, and/or Landlord’s business of leasing, by any authority having the direct or indirect power to tax and where the funds are 

  
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generated with reference to the Building address and where the proceeds so generated are to be applied by the city, county or other local taxing authority of a jurisdiction within which the
Premises are located. The term “Real Property Taxes” shall also include any tax, fee, levy, assessment or charge, or any increase therein, imposed by reason of events occurring during the term of this Agreement, including but not limited
to, a change in the ownership of the Premises. 
 16.3 Payment of Real Property Taxes. Tenant shall pay the Real Property
Taxes applicable to the Premises during the term of this Agreement. Subject to Section , all such payments shall be made at least ten (10) days prior to any delinquency date. Upon Landlord request, Tenant shall promptly furnish Landlord with
satisfactory evidence that such taxes have been paid. If any such taxes shall cover any period of time prior to or after the expiration or termination of this Agreement, Tenant’s share of such taxes shall be prorated to cover only that portion
of the tax bill applicable to the period that this Agreement is in effect, and Landlord shall reimburse Tenant for any overpayment. If Tenant shall fail to pay any required Real Property Taxes, Landlord shall have the right to pay the same, and
Tenant shall reimburse Landlord therefor upon demand. 
 16.4 Advance Payment. Notwithstanding Section 16.3 above,
Landlord may, at Landlord’s option, estimate the current Real Property Taxes, and require that such taxes be paid in advance to Landlord by Tenant, either: (i) in a lump sum amount equal to the installment due, at least twenty
(20) days prior to the applicable delinquency date, or (ii) monthly in advance with the payment of the MMR. If Landlord elects to require payment monthly in advance, the monthly payment shall be an amount equal to the amount of the
estimated installment of taxes divided by the number of months remaining before the month in which said installment becomes delinquent. When the actual amount of the applicable tax bill is known, the amount of such equal monthly advance payments
shall be adjusted as required to provide the funds needed to pay the applicable taxes. If the amount collected by Landlord is insufficient to pay such Real Property Taxes when due, Tenant shall pay Landlord, upon demand, such additional sums as are
necessary to pay such obligations. All monies paid to Landlord under this Section may be intermingled with other monies of Landlord and shall not bear interest. In the event of a Breach by Tenant in the performance of its obligations under this
Agreement, then any balance of funds paid to Landlord under the provisions of this Section may, at the option of Landlord, be treated as an additional Security Deposit. 
 16.5 Increased Taxes. If alterations, utility installations, installation of trade or other fixtures or equipment, or any specialized improvements for the use of Tenant or the tenant improvements
in the Premises, whether installed, and/or paid for by Landlord or Tenant and whether or not affixed to the real property so as to become a part thereof, are assessed for real property tax purposes at a valuation higher than the valuation at which
tenant improvements conforming to Landlord’s “Building Standard”, then the Real Property Taxes and assessments levied against the Building by reason of such excess assessed valuation shall be deemed to be taxes levied against
personal property of Tenant and shall be governed by the provisions of Section 16.1 above. If the records of the County Assessor are not available or sufficiently detailed to serve as a basis for making said determination, the actual cost of
construction shall be used. 
 ARTICLE 17 
 EMINENT DOMAIN 
 If more than twenty-five percent (25%) of the Building shall be
taken or appropriated by any public or quasi-public authority under the power of eminent domain, and/or if Landlord shall agree to sell or convey to the authority under threat, or in lieu, of condemnation, either party hereto shall have the right,
at its option, to terminate this Agreement and Landlord shall be entitled to any and all income, Rent, award, or any interest therein whatsoever which may be paid or made in connection with such public or quasi-public use or purpose and Tenant shall
have no claim against Landlord for all or any portion of the proceeds or for the value of any unexpired term of this Agreement. If either less than twenty-five percent (25%) of the Building is taken, or more than twenty-five percent
(25%) is taken, and neither party elects to terminate as herein provided, the Rent thereafter to be paid shall be equitably reduced based upon the ratio which the square feet of floor area in the Building taken bears to the total square feet of
floor area in the Building immediately before the taking. 
 ARTICLE 18 

ESTOPPEL CERTIFICATES 
 18.1 Tenant Certificates. Tenant shall from time to time within ten (10) days after Landlord’s written request execute, acknowledge, and deliver an estoppel certificate certifying to
Landlord and its Mortgagees, investors, and purchasers (i) that this Agreement is unmodified and in full force and effect except as stated in the certificate, (ii) that a complete copy of this Agreement and all amendments is attached to
the certificate as an exhibit, (iii) the amount of Minimum Annual Rent and Additional Rent then in effect or payable, (iv) the dates through which Minimum Annual Rent and Additional Rent have been paid, (v) that no Rent has been paid
in advance except as specified, (vi) that except as specified there are no uncured defaults on the part of Landlord hereunder and no events have occurred which, with the giving of notice or the passage of time or both, would constitute defaults
on the part of Landlord, (vii) the dates on which Minimum Annual Rent and Additional Rent commenced to accrue, (viii) the first and last days of the Term, subject to any remaining extension options, (ix) identifying which extension
options Tenant has exercised and which remain unexercised, if any, and (x) any other information reasonably requested by Landlord. Landlord and its Mortgagees, investors, and purchasers may detrimentally rely on the certificate. 

18.2 Assignor Certificates. Within ten (10) days after receiving Landlord’s written request given from time to time
following any assignment of the Tenant’s interest in this Agreement, each assignor, whether the named Tenant herein or any subsequent assignor, shall execute, acknowledge, and deliver to Landlord an estoppel certificate signed by the assignor
containing the information required under Section 18.1 above for estoppel certificates signed by Tenant and certifying that, except as stated in the certificate, (a) the assignor remains liable for the

  
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obligations and liabilities of the Tenant under this Agreement, and (b) the assignor knows of no defenses or offsets to such obligations and liabilities. Landlord and its Mortgagees,
investors, and purchasers may detrimentally rely on the certificate. 
 ARTICLE 19 

FINANCIAL STATEMENTS 

Within ten (10) days after Landlord’s written request, Tenant shall furnish Landlord with the following documents: Financial statements,
including, but not limited to, balance sheets, profit and loss statements and statements of changes to financial condition, reflecting Tenant’s current financial condition in connection with an actual or proposed sale, financing or refinancing
of the Premises. In the event Tenant is a publicly-traded corporation, Tenant’s last published financial information shall be deemed satisfactory. 
 ARTICLE 20 
 DEFAULTS BY TENANT 

20.1 Events of Default. Tenant shall be in default under the terms of this Agreement if: 

 

	 	(a)	Tenant fails to make any payment of Rental (as defined in Section 20.4) within three (3) days after written notice; 

 

	 	(b)	Tenant commits a breach of any of its obligations under this Agreement other than the failure to make a payment of Rental, including, but not limited to,
Tenant’s being in default in the prompt and full performance of any its promises, covenants, or agreements herein contained for more than a reasonable time, in no event to exceed ten (10) days, after written notice thereof from
Landlord to Tenant describing the nature of the default in reasonable detail; 

  

	 	(c)	Tenant vacates or abandons the Premises prior to the end of the Term or any extension thereof; 

 

	 	(d)	Tenant makes any general assignment for the benefit of creditors; 

  

	 	(e)	A petition has been filed against Tenant to have Tenant adjudged a bankrupt or a petition for reorganization or arrangement under any law relating to bankruptcy
(unless, in the case of a petition filed against Tenant, the same is dismissed within sixty (60) days); 

  

	 	(f)	Tenant institutes any proceedings under the Bankruptcy Code or any similar or successor statute, code, or act; 

 

	 	(g)	An appointed trustee or receiver takes possession of all or substantially all of Tenant’s assets or of Tenant’s assets at the Premises, or of Tenant’s
interest in this Agreement, where possession is not restored to Tenant within thirty (30) days; or should all or substantially all of Tenant’s assets located at the Premises or Tenant’s interest in this Agreement have been attached or
judicially seized, where the seizure is not discharged within thirty (30) days; 

  

	 	(h)	Tenant fails to pay its debts generally as such debts become due (excluding debts which are subject to bona fide dispute). 

Any notice provided for in this Section 20.1 shall be in lieu of, and not in addition to, any notice required under Section 1161 of the
California Code of Civil Procedure, or any similar superseding statute. 
 20.2 Rights of Landlord upon Breach. Landlord
may treat the occurrence of any one (1) or more of the foregoing events as a breach of this Agreement, and, in addition to any and all other rights or remedies of Landlord under this Agreement, at law or in equity, Landlord shall have the
option, without further notice or demand of any kind to Tenant or any other person except as then may be required by law, to: 
  

	 	(a)	Declare the term ended and to re-enter and take possession of the Premises, and remove all persons therefrom; 

 

	 	(b)	Re-enter the Premises and occupy the whole or any part for and on account of Tenant, to the extent then permitted by California law, without declaring this Agreement
terminated, and to collect any unpaid Rental and other charges which have become due and payable, or which may thereafter become due and payable; or 

  

	 	(c)	Even though Landlord may have re-entered the Premises pursuant to Subsection 20.2(b), to elect thereafter to terminate this Agreement and all of the rights of Tenant in
or to the Premises; provided, however, that Landlord shall not be deemed to have terminated this Agreement, or the liability of Tenant to pay any Rental, by re-entering the Premises pursuant to this Section, or by any action in unlawful detainer or
otherwise to obtain possession of the Premises, unless Landlord shall have notified Tenant in writing that it has so elected to terminate this Agreement. 

  
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 20.3 Termination of Agreement. Should Landlord elect to terminate this Agreement
pursuant to the provisions of Sections 20.1 and 20.2 above, Landlord may recover from Tenant, as damages, the following: 
  

	 	(a)	The worth at the time of award of the unpaid Rental which had been earned at the time of termination; plus 

 

	 	(b)	The worth at the time of award of the amount by which the unpaid Rental which would have been earned after termination until the time of award exceeds the amount of
such Rental loss that Tenant proves could have been reasonably avoided; plus 

  

	 	(c)	The worth at the time of award of the amount by which the unpaid Rental for the balance of the Term after the time of award exceeds the amount of Rental loss that
Tenant proves could have been reasonably avoided; plus 

  

	 	(d)	Any other amount necessary to compensate Landlord for the detriment proximately caused by Tenant’s failure to perform its obligations under this Agreement or which
in the ordinary course of things would be likely to result therefrom, including, but not limited to, any costs or expenses incurred by Landlord in (i) retaking possession of the Premises, including reasonable attorneys’ fees (including
charges of in-house counsel) therefor, (ii) maintaining or preserving the Premises after any default, (iii) preparing the Premises for reletting to a new tenant, including repairs or alterations to the Premises, (iv) payment of
leasing commissions, and (v) payment of any other costs necessary or appropriate to relet the Premises; plus (vi) at Landlord’s election, any other amounts in addition to or in lieu of the foregoing as may be permitted from time to
time by the laws of the state where the Premises is situated. 

 As used in Subsections 20.3(a) and
(b) above, the “worth at the time of award” shall be computed by allowing interest at the maximum lawful rate. As used in Subsection 20.3(c) above, the “worth at the time of award” shall be computed by discounting such
amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award, plus one percent (1%). 
 20.4
Definition of Rent. The term “Rent” shall be deemed to be the MMR, Additional Rent, and all other sums required to be paid by Tenant pursuant to the terms of this Agreement, including after-accruing sums. All sums, for the purpose
of calculating any amount due under the provisions of Sections 20.2(b) and 20.2(c) above, shall be computed on the basis of the average monthly amount accruing during the immediately preceding six (6) month period, except that if it
becomes necessary to compute these sums before a six (6) month period has elapsed during the Term, then these sums shall be computed on the basis of the average monthly amount accruing during the shorter period. 

20.5 Non-Monetary Defaults. 
  

	 	(a)	Notwithstanding any other provision of this Article, if the default complained of, other than a default for the payment of monies, cannot be cured within the period
requiring curing as specified in Landlord’s written notice of default, then the default shall be deemed to be cured if Tenant, within the notice period, shall have commenced the curing of the default and shall thereafter diligently prosecute
the same to completion, so long as (i) such cure is fully completed within one hundred twenty (120) days after the date that Landlord serves written notice to Tenant of the incident constituting the breach of this Agreement, and
(ii) the continuance of which for the period required for cure will not subject Landlord or any Mortgagee to prosecution for a crime, termination or foreclosure of any Mortgage, damage to the Premises or other property, or liability for
potential injury or other harm to persons or property. 

  

	 	(b)	In addition, Landlord shall have the right, but not the obligation, to perform on Tenant’s behalf any action necessary to cure a default by Tenant hereunder.
However, such action by Landlord shall not cure Tenant’s default under this Agreement. Landlord shall charge Tenant a sum equal to the full cost of Landlord’s action plus an administrative fee of ten percent (10%) of such aggregate
cost. Tenant’s failure to pay such charge within five (5) days after Landlord’s written demand therefor shall be a separate default under this Agreement, but Tenant’s payment of such charge within such five (5) day period
shall cure the underlying default for which such costs were incurred by Landlord. 

 20.6 Default Interest.
In addition to any other remedies Landlord may have under this Agreement, and without reducing or adversely affecting any of Landlord’s rights and remedies under this Article 20, if any Rental or other amounts payable hereunder by Tenant
to Landlord are not paid within ten (10) days after demand therefore, the same shall bear interest at the annual rate of fifteen percent (15%) or the maximum rate permitted by law, whichever is less (the “Default Rate”),
calculated monthly from the due date thereof until paid, and the amount of such interest shall be included as Additional Rent. 

ARTICLE 21 

DEFAULTS BY LANDLORD 
 21.1 Failure To Perform. If Landlord fails to perform any of the covenants, provisions, or conditions contained in this Agreement on its part to be performed within thirty (30) days after
Tenant’s written notice of default to Landlord (or if more than thirty (30) days shall be required because of the nature of the default, if Landlord shall fail to promptly commence performance within such thirty (30) day period and
thereafter proceed diligently to cure the default), then Landlord shall be liable to Tenant for damages sustained by Tenant as a direct result of 

  
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Landlord’s breach as described below but Tenant shall not be entitled to terminate this Agreement as a result thereof or to set off any such damages against Rent otherwise due Landlord. For
purposes of this Agreement, damages sustained as a direct result of Landlord’s breach shall only include the following: (a) the actual costs of replacement, repair, or restoration of Tenant’s tangible property or the tangible property
of third parties for which Tenant is responsible, to the extent the damage or destruction of such tangible property occurred as a direct result of Landlord’s breach; and (b) actual damages awarded to third parties by courts of competent
jurisdiction against Tenant but only to the extent such damages are directly attributable to Landlord’s breach; and all other consequential damages (including, but not limited to, damages for lost profits) are hereby expressly waived by Tenant
and shall not be recoverable against Landlord. Notwithstanding anything to the contrary elsewhere in this Agreement, (i) Tenant shall be barred from asserting any claim or demand against Landlord hereunder unless Tenant commences an action
thereon within six (6) months after the date of the action, omission, or event to which the claim or demand relates, and (ii) Landlord shall not be liable to Tenant for any aggregate amount greater than the value of Landlord’s
interest in the Premises less the sum of all liens recorded against Landlord’s interest in the Premises from time to time. 

21.2 Cure by Assignee. If any part of the Premises is at any time subject to a mortgage or a deed of trust and this Agreement or
the Rental due from Tenant hereunder is assigned to a mortgagee, trustee, or beneficiary (called “Assignee” for purposes of this Article only) and Tenant is given written notice of the assignment, including the address of Assignee, then
Tenant shall give written notice of any default by Landlord to Assignee simultaneously with giving such notice to Landlord, specifying the default in reasonable detail and affording Assignee thirty (30) days beyond Landlord’s cure period
provided in Section 21.1 to itself cure, or commence to cure, such default(s). Tenant further agrees not to invoke any of its remedies under this Agreement until said thirty (30) days have elapsed, or during any period that such Assignee
is proceeding to cure such default with due diligence, or is taking steps with due diligence to obtain the legal right to enter the Premises or adjoining property to cure the default. If and when Assignee has made performance on behalf of Landlord,
the default shall be deemed cured. It is understood that the Assignee shall have the right, but not the obligation, to cure any default on the part of Landlord. Tenant agrees that if an Assignee shall succeed to the interest of Landlord under this
Agreement, neither the Assignee nor its successors or assigns shall be: liable for any prior act or omission of Landlord; subject to any claims, offsets, credits or defenses which Tenant might have against any prior landlord (including
Landlord); or bound by any assignment (except as otherwise expressly permitted hereunder), surrender, release, waiver, amendment or modification of this Agreement made without such Assignee’s prior written consent; or obligated to make any
payment to Tenant or liable for refund of all or any part of any security deposit or other prepaid charge to Tenant held by Landlord for any purpose unless the Assignee shall have come into exclusive possession of such deposit or charge. In
addition, if an Assignee shall succeed to the interest of Landlord under this Agreement, the Assignee shall have no obligation, nor incur any liability, beyond its then equity interest, if any, in the Premises. 

ARTICLE 22 

ASSIGNMENT AND SUBLETTING 
 22.1 No Assignment Without Consent. Tenant shall not transfer, assign, sublet, enter into license or concession agreements with respect to any portion of the Premises, or hypothecate this Agreement
or Tenant’s interest in and to the Premises in whole or in part, or otherwise permit occupancy of all or any part of the Premises by anyone with, through or under it, without first procuring the written consent of Landlord, which may be
withheld in Landlord’s sole discretion. Any attempt at a transfer shall be null and void and confer no rights upon a 3rd person. These prohibitions shall not be construed to refer to events occurring by operation of law, legal process,
receivership, bankruptcy, issuance of stock to the public, or otherwise. For purposes of this Article 22, a transfer of more than 50% of the voting ownership interests of Tenant in one or a series of related transactions shall be deemed to be an
assignment of this Agreement. 
 Anything in this Article 22 to the contrary notwithstanding, Tenant shall have the right, provided that Tenant
is not in default beyond the applicable cure period, to assign or sublease all or any portion of this Agreement (i) to Tenant’s direct or remote corporate parent, (ii) to any subsidiary of Tenant or of Tenant’s direct or remote
corporate parents, or (iii) to a successor to Tenant pursuant to a merger, consolidation, public offering, or a purchase of a majority of the assets or ownership interests of Tenant, without Landlord’s consent, provided that the following
conditions are met: 
  

	 	(a)	that the proposed use is identical to Tenant’s use under this Agreement; 

 

	 	(b)	that the proposed use will not violate competitive restriction clauses, if any; 

 

	 	(c)	that total Rent payable to Landlord after such assignment or subletting will be not less than total Rent payable before such transfer, taking into account rent
increases or any other factors applicable to the existing tenancy, so that Landlord does not suffer economic detriment resulting therefrom; 

  

	 	(d)	that all provisions of this Agreement would apply to and be ratified by the proposed transferee; 

 

	 	(e)	that regardless of whether such transfer of interest is denominated an assignment, sublease, or other conveyance, the obligations of Tenant pursuant to this Agreement
shall not be reduced or released and Tenant shall guarantee and make good any and all obligations of the transferee arising out of this Agreement; 

  

	 	(f)	that the proposed transferee is not less creditworthy than the Tenant; and. 

  
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	 	(g)	that any surrender, cancellation, or other termination of this Agreement shall, at Landlord’s option, terminate any or all subtenancies or, alternately, act as an
assignment to Landlord of Tenant’s interest in such subtenancies. 

 Neither the transfer of Tenant’s
stock to its employees pursuant to an employee stock ownership plan or other similar arrangement with one or more employees, or any transfer of Tenant’s stock by gift, bequest or inheritance shall be deemed to be a transfer of this Agreement or
Tenant’s interest in the Premises requiring Landlord’s consent. Further, anything in this Article 22 to the contrary notwithstanding, Landlord acknowledges that Tenant may issue voting stock to the public through listing on a
“national securities exchange” as defined in the Securities Exchange Act of 1934 or through trading on the Over-the-Counter Bulletin Board, and that such issuance and subsequent transfer of such shares and the transfer of any shares of
Tenant’s shareholders in a public offering or on such exchange or Bulletin Board shall be permitted without Landlord’s consent. 
 Each transfer to which Landlord has consented shall be in writing, in a form reasonably satisfactory to Landlord and executed by the transferor and transferee. If Tenant entity changes in connection with
a transfer, the transferee shall agree, in writing, to assume, be bound by and perform the covenants and conditions of this Agreement. Tenant shall deliver to Landlord a statement within 30 days after the end of each calendar year, and within 30
days after the expiration or earlier termination of the Term, specifying each transfer in effect during the period covered by the statement, as well as: (a) the date of the transfer document’s execution and delivery; (b) the square
footage of the rentable area demised and the tenant; and (c) a computation in reasonable detail showing the rental amounts, if any, paid and payable by Tenant to Landlord for the transfer pursuant to this subsection. Tenant shall not be
released from liability or relieved of its obligations, unless Landlord expressly agrees otherwise in writing. Except for transfers which do not require Landlord’ s consent, if the Minimum Annual Rent, or Additional Rent or other payment to be
paid to Tenant from a transfer exceeds the Rent and Additional Rent Tenant is required to pay Landlord under this Agreement, then Tenant shall pay to Landlord 50% of the excess, less Tenant’s reasonable expenses for reletting, without prior
demand, which shall be deemed Additional Rent. 
 Neither Tenant nor any other person having an interest in the possession, use,
occupancy or utilization of the Premises shall enter into any lease, sublease, license, concession, assignment or other agreement for use, occupancy or utilization for space in the Premises which provides for rental or other payment for such use,
occupancy, or utilization based in whole or in part on the net income or profits derived by any person from the part leased, used, occupied or utilized (other than an amount based on a fixed percentage or percentages of receipts or sales), and that
any such proposed lease, sublease, license, concession, assignment or other agreement shall be absolutely void and ineffective as conveyance of any right or interest in the possession, use, occupancy or utilization of any part of the Premises.

 22.2 No Consent to Subsequent Assignment. A consent to one (1) assignment, subletting, occupation, or use by any
other person shall not be deemed to be a consent to any subsequent assignment, subletting, occupation, or use by another person. Any such assignment or subletting without such consent shall be void, and shall at the option of Landlord constitute a
default under this Agreement. 
 22.3 Conditions to Consent. As a condition to Landlord’s prior written consent as
provided for in this Article 22, (i) Tenant shall pay to Landlord a nonrefundable review fee of $500.00 plus Landlord’s reasonable legal and consultant fees and costs incurred due to the request to transfer, (ii) Tenant shall
provide to Landlord such background, financial and other information as Landlord may request to evaluate the proposed transfer, (iii) the transferee(s) shall agree in writing to comply with and be bound by all of the terms, covenants,
conditions, provisions and agreements of this Agreement, and (iv) Tenant shall deliver to Landlord, promptly after execution, an executed copy of each transfer instrument and an agreement of said compliance by each transferee. Tenant agrees, by
way of example and without limitation, that it shall not be unreasonable for Landlord to withhold its consent to a proposed assignment or subletting if (a) Landlord determines that the proposed assignee’s or subtenant’s use of the
Premises conflicts with Section 1.10 or conflicts with any other provision under this Agreement; (b) Landlord determines that the proposed assignment or subletting would breach a covenant, condition or restriction in any encumbrance,
financing agreement or other agreement relating to the Premises or this Agreement; or (c) an Event of Default under Article 20 has occurred and is continuing at the time of Tenant’s request for Landlord’s consent, or as of the
effective date of such assignment or subletting. 
 22.4 No Release. Regardless of Landlord’s consent (or in
circumstances where no consent may be required pursuant to Section 22.1 above), no transfer under this Article 22 by Tenant shall release or discharge Tenant from its obligations or liability under this Agreement. This Agreement shall bind any
assignee, transferee or subtenant jointly with Tenant. 
 ARTICLE 23 

BROKERS 

Intentionally omitted. 

  
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 ARTICLE 24 
 HAZARDOUS SUBSTANCES 
 The term “Hazardous Substances,” as used in this Agreement,
shall mean (a) all chemicals, materials, or substances, whether gaseous, solid or liquid, for which the storage, handling, generation, treatment, disposal, discharge, release, transportation, or clean-up of, are subject to any federal, state,
or local laws, regulations, or policies in effect during the Term of this Agreement (collectively, “Hazardous Substance Laws”), and (b) all flammables, explosives, radioactive materials, asbestos and other carcinogens, chlorinated
biphenyls (PCB’s), pesticides, chemicals known to cause reproductive toxicity, petroleum and petroleum by-products and derivatives, whether or not such substances are subject to regulation under Hazardous Substance Laws. The Hazardous Substance
Laws include, without limitation, the Resource Conservation and Recovery Act (RCRA), Comprehensive Environmental Response, Compensation and Liability Act (CERCLA), Standard Amendments and Reauthorization Act (SARA), Emergency Planning and Community
Right-To-Know Act (SARA Title III), Federal Clean Water Act, Federal Clean Air Act, Federal Occupational Safety and Health Act (Fed/OSHA), Toxic Substances Control Act (TSCA), Hazardous Substances Act (HSA), California Hazardous Waste Control Law,
Hazardous Materials Release Response Plans and Inventory Law, California Underground Storage of Hazardous Substances Law, Aboveground Petroleum Storage Act, California Occupational, Safety, and Health Act (Cal/OSHA), Safe Drinking Water and Toxic
Enforcement Act (Proposition 65), Carpenter-Presley-Tanner Hazardous Substance Account Act, the Porter-Cologne Water Quality Act and any rules promulgated by the Southern California Air Quality Management District (SCAQMD) or other governmental
agencies controlling or regulating toxic substances in the air. 
 24.1 Tenant’s Restrictions. Tenant shall not cause
or permit to occur: 
  

	 	(a)	Any violation of any Hazardous Substance Laws or any federal, state, or local law, ordinance, or regulation now or hereafter enacted, related to environmental
conditions on, under, or about the Premises, or arising from Tenant’s use or occupancy of the Premises, including, but not limited to, soil and ground water conditions; or 

 

	 	(b)	The use, generation, release, manufacture, refining, production, processing, handling, treating, storage, or disposal of any Hazardous Substance on, under, or about the
Premises, or the transportation to or from the Premises of any Hazardous Substance. Tenant acknowledges and agrees that any disposal, release, or discharge of Hazardous Substances in, on, or under the Premises shall be in and of itself an
unreasonable use of the Premises beyond the scope of any permissible use of the Premises. 

 24.2 Environmental
Clean-up. 
  

	 	(a)	Tenant shall, at Tenant’s own expense, comply with all Hazardous Substance Laws and laws and regulations now effective or hereinafter enacted regulating the use,
generation, storage, notification, transportation, release, or disposal of Hazardous Substances. 

  

	 	(b)	Tenant shall, at Tenant’s own expense, make all submissions to, provide all information required by, and comply with all requirements of all governmental agencies
under the Hazardous Substance Laws. 

  

	 	(c)	Tenant shall provide Landlord with written notification of any spill, release or other discharge of Hazardous Substances at, on or near the Premises within twenty four
(24) hours of such event. 

  

	 	(d)	Should any governmental agency or any third party demand that a cleanup plan be prepared and that a cleanup be undertaken because of any disposal, discharge, or release
of Hazardous Substances that occurs during the term of this Agreement, at or from the Premises, or which arises at any time from Tenant’s use or occupancy of the Premises, then Tenant shall, at Tenant’s own expense, prepare and submit the
required clean-up plans and all related bonds and other financial assurances; and Tenant shall carry out all such cleanup plans and clean-up until completed to the satisfaction of the applicable governmental agency; provided, that any such clean-up
shall, at a minimum, return the Premises to the condition existing before the disposal, discharge, or release of the Hazardous Substances. Without limiting the foregoing, Tenant shall immediately remedy any violation of any of the Hazardous
Substance Laws by Tenant or otherwise at or from the Premises during the Term at Tenant’s sole cost and expense, including repairing any damage to the Premises or other property caused by such violation. Tenant’s clean-up of any such
disposal, discharge, or release, or Tenant’s remediation of any violation of the Hazardous Substance Laws, shall not preclude Landlord from, nor be in lieu of, the exercise by Landlord of any remedies available to Landlord for Tenant’s
breach of this Agreement, including termination of this Agreement. 

  

	 	(e)	Tenant shall promptly provide all information regarding the use, generation, release, manufacture, refining, production, processing, handling, treating, storage,
disposal or transportation of Hazardous Substances that is required by Landlord. If Tenant fails to fulfill any duty imposed under this Section within a reasonable time, Landlord may, but shall not be required to, do so; and in such case, Tenant
shall cooperate with Landlord in order to prepare all documents Landlord deems necessary or appropriate to determine the applicability of the Hazardous Substance Laws to the Premises and Tenant’s use thereof, and for compliance therewith, and
Tenant shall execute all documents promptly upon Landlord’s request. No such action by Landlord and no attempt made by Landlord to mitigate damages under any Hazardous Substance Laws shall constitute a waiver of any of Tenant’s obligations
under this Section. 

  
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	 	(f)	Tenant shall provide Landlord, at Tenant’s sole cost and expense, copies of all correspondence with any governmental agency concerning Hazardous Substances
promptly upon sending or receiving such correspondence. For purposes of this subsection, “correspondence” shall include any clean-up plans or other submittals made by Tenant to a governmental agency or any notice or other communication
received from a governmental agency. 

  

	 	(g)	Without limiting any other rights of Landlord under this Agreement to inspect or otherwise enter the Premises, Tenant shall permit Landlord and Landlord’s agents,
employees, contractors, and/or consultants to enter the Premises during regular business hours for the purposes of inspecting the Premises to insure that Tenant is complying with the Hazardous Substance Laws and the terms of this Article 24. Such
inspection may, but shall not be required to, include, without limitation, any sampling and/or testing of soil or of any materials or substances on the Premises deemed necessary by Landlord. Notwithstanding the foregoing, Landlord may, but shall not
be required to, enter the Premises at any time to stop the disposal, discharge, or release of any Hazardous Substances in violation of the Hazardous Substance Laws. No such inspection by Landlord shall in any way whatsoever limit, restrict, or
otherwise adversely affect any right or remedy Landlord may otherwise have against Tenant under this Agreement, including, without limitation, any right or remedy provided in Article 21.1 or the indemnity provided in Section 24.3 below.

 24.3 Tenant’s Indemnity. Tenant hereby indemnifies, defends, and holds harmless Landlord, the
Landlord’s property manager, their respective agents and employees, and any lender or encumbrancer of all or part of the Premises and their respective officers, directors, beneficiaries, shareholders, members, partners, agents, affiliates,
joint venturers, related and affiliated groups or entities, and employees from all fines, suits, procedures, claims, liabilities, and actions of every kind, and all costs associated therewith (including attorneys’ and consultants’ fees)
arising out of or in any way connected with any deposit, spill, discharge, or other release of Hazardous Substances that occurs during the term, at or from the Premises, or which arises at any time from Tenant’s use or occupancy of the
Premises, or from Tenant’s failure to provide all information, make all submissions, and take all steps required by all governmental agencies under the Hazardous Substance Laws and all other environmental laws; except that Tenant shall not be
liable for claims resulting from the sole active negligence or sole willful misconduct of Landlord, another party indemnified hereunder, or the agents, servants, or employees of Landlord or another indemnified party. 

24.4 Survival. Tenant’s obligations and liabilities (including, without limitation, indemnities under this Article 24 shall
survive the expiration of this Agreement. Nothing in this Article 24 (including, without limitation, those provisions enumerating the rights of Landlord and any action, or failure to act, thereunder) shall be deemed to be an approval or acquiescence
by Landlord of any action or failure to act by Tenant in violation of any Hazardous Substance Law. 
 24.5 Proposition 65
Disclosure. The Premises contain chemicals known to the State of California to cause cancer and birth defects or other reproductive harm. More information on specific exposure is available at www.prop65apt.org. 

ARTICLE 25 

GENERAL PROVISIONS 
 25.1 Plats and Riders. Clauses, plats, and riders, if any, signed by the Landlord and Tenant and endorsed on or affixed to this Agreement are a part hereof. 

25.2 Waiver. The waiver by Landlord of any term, covenant, or condition herein contained shall not be deemed to be a waiver of
such term, covenant, or condition on any subsequent breach of the same or any other term, covenant, or condition herein contained. The subsequent acceptance of Rental hereunder by Landlord shall not be deemed to be a waiver of any preceding breach
by Tenant of any term, covenant, or condition of this Agreement other than the failure of Tenant to pay the particular Rental so accepted, regardless of Landlord’s knowledge of such preceding breach at the time of the acceptance of such Rental.

 25.3 Notices. Except as otherwise required by law, any notice, information, demand, request, reply, or other
communication (the “Notice” for purposes of this Article only) required or permitted to be given under the provisions of this Agreement shall be given or served as set out herein. Such Notice shall be deemed sufficiently given if it is in
writing and if it is (a) served in conformity with the provisions of California Code of Civil Procedure Section 1162 or any superseding statute, (b) deposited in the United States mail, certified, return receipt requested, postage
prepaid or (c) sent by Express Mail, or other similar overnight service, provided proof of service is available as an ordinary business record of such overnight service. All Notices shall be addressed to the parties at the addresses set forth
below their signatures on the signature page hereof. Any Notice personally served shall be effective as of the date of service. Any Notice sent by mail shall be deemed given as of the earlier of (i) actual receipt or (ii) two
(2) business days following the date of deposit in the mail. Any Notice sent by Express Mail, or as otherwise provided in clause (c), shall be deemed given upon the date set forth on the proof of delivery. Either party may, by written Notice to
the other in the manner specified herein, specify an address within the state where the Premises is located for Notices, for payments and reports, in lieu of the address set forth on the signature page hereof. 

25.4 Obligation of Tenants and Agents. If there be more than one Tenant, the obligations hereunder imposed
upon Tenants shall be joint and several, and each Tenant or Tenant’s representative signing this Agreement warrants and agrees that each Tenant is the agent of, and has authority to bind, every other Tenant. If Tenant is

  
 Page 19

 
a business entity, each individual executing this Agreement on behalf of such entity represents he or she is duly empowered and authorized to execute this Agreement on behalf of such entity.

 25.5 Marginal Headings. The marginal headings and Article titles to the Articles of this Agreement are not a part
of this Agreement and shall have no effect upon the construction or interpretation of any part hereof. 
 25.6 Time. Time
is of the essence of this Agreement and each and all of its provisions in which performance is a factor. 
 25.7
Successors and Assigns. The covenants and conditions herein contained, subject to the provisions as to assignment, apply to and bind the heirs, successors, executors, administrators, and assigns of the parties hereto. 

25.8 Recordation. Neither Landlord nor Tenant shall record this Agreement or a short form memorandum hereof without the prior
written consent of the Landlord. 
 25.9 Prior Agreements. This Agreement contains all of the agreements of the
parties hereto with respect to any matter covered or mentioned in this Agreement, and no prior agreements or understanding pertaining to any such matters shall be effective for any purpose. No provision of this Agreement may be amended or added to
except by an agreement in writing signed by the parties hereto or their respective successors in interest. 
 25.10
Inability to Perform. This Agreement and the obligations of Tenant hereunder shall not be affected or impaired because Landlord is unable to fulfill any of its obligations hereunder or is delayed in doing so, if such inability or
delay is caused by reason of strike, labor troubles, inclement weather, acts of God, or any other cause beyond the reasonable control of Landlord. 
 25.11 Attorneys’ Fees. In the event that at any time after the date of execution of this Agreement, either Landlord or Tenant shall institute any action or proceeding against the other
relating to the provisions of this Agreement, or to any default hereunder, the party not prevailing in the action or proceeding shall reimburse the prevailing party for the reasonable expenses of its attorneys’ fees (including charges of
in-house counsel) and all costs or disbursements incurred therein by the prevailing party including, without limitation, any fees, costs, or disbursements incurred on any appeal from the action or proceeding. 

25.12 Sale of Premises by Landlord. In the event of any sale of the Building, Landlord shall be and is hereby
entirely freed and relieved of all liability under any and all of its covenants and obligations contained in or derived from this Agreement arising out of any act, occurrence, or omission occurring after the consummation of such sale; and the
purchaser at such sale or any subsequent sale of the Premises shall be deemed, without any further agreement between the parties or their successors in interest or between the parties and any such purchaser, to have assumed and agreed to carry out
any and all of the covenants and obligations of Landlord under this Agreement. 
 25.13 Subordination, Attornment.
Tenant shall, upon Landlord’s request, subordinate this Agreement to any mortgage or deed of trust placed by Landlord upon the Premises, or the Building; provided, that such mortgage or deed of trust, by its terms or by separate written
agreement with Tenant, provides that if Tenant is not then in default under this Agreement past the applicable cure period, this Agreement shall not terminate as a result of the foreclosure of such mortgage or deed of trust, and Tenant’s rights
under this Agreement shall continue in full force and effect and Tenant’s possession of the Premises shall be undisturbed except in accordance with the provisions of this Agreement. Tenant will, upon request of the holder of the mortgage or
deed of trust, be a party to such an agreement, if such agreement does not materially alter or modify this Agreement, and will agree that if such holder of the mortgage or deed of trust succeeds to the interest of Landlord, Tenant will attorn to
such holder of the mortgage or deed of trust (or successor-in-interest of the holder of the mortgage or deed of trust) as its landlord under the terms of this Agreement. In the event that the holder of a mortgage or deed of trust notifies Tenant of
a default under the mortgage or deed of trust and demands that Tenant pay its rent and all other sums due under this Agreement to such holder or its assignee, Tenant shall honor such demand without inquiry and pay its rent and all other sums due
under this Agreement directly to the holder, its assignee or as otherwise required pursuant to such notice and shall not thereby incur any obligation or liability to Landlord. 
 25.14 Severability. Any provision of this Agreement which shall prove to be invalid, void, or illegal shall in no way affect, impair, or invalidate any other provision hereof and such other
provision shall remain in full force and effect. 
 25.15 Cumulative Remedies. No remedy or election hereunder shall
be deemed exclusive but shall, wherever possible, be cumulative with all other remedies at law or in equity. 
 25.16
Easements. Landlord reserves the right to grant such easements, rights, or dedications as may be necessary or convenient, and Tenant agrees that its leasehold interest shall be subordinate to any such interests granted. Tenant shall execute
any documents as may be required to effectuate the purposes of this Section. 
 25.17 Choice of Law. This
Agreement shall be governed by the laws of the State of California. 
 25.18 Exhibits. Exhibits A and B are attached to
and incorporated into this Agreement by reference. 
 25.19 Execution of Agreement - No Option:
The submission of this Agreement to Tenant shall be for examination purposes only, and does not and shall not constitute a reservation of or option for Tenant to lease, or otherwise 

  
 Page 20

 
create any interest by Tenant in, the Premises. Execution of this Agreement by Tenant and return to Landlord shall not be binding upon Landlord notwithstanding any time interval, until Landlord
has in fact executed and delivered this Agreement to Tenant. 
 25.20 Waiver of Jury Trial.  

TO THE EXTENT PERMITTED BY LAW, LANDLORD AND TENANT WAIVE THE RIGHT TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING, OR COUNTERCLAIM BASED UPON, OR RELATED
TO, THE SUBJECT MATTER OF CLAIMS ARISING ONLY OUT OF THE NON-PAYMENT OF RENT AND ADDITIONAL CHARGES DUE PURSUANT TO THIS AGREEMENT. THIS WAIVER IS KNOWINGLY, INTENTIONALLY, AND VOLUNTARILY MADE BY TENANT AND TENANT ACKNOWLEDGES THAT NEITHER LANDLORD
NOR ANY PERSON ACTING ON BEHALF OF LANDLORD HAS MADE ANY REPRESENTATIONS OF FACT TO INDUCE THIS WAIVER OF TRIAL BY JURY OR IN ANY WAY TO MODIFY OR NULLIFY ITS EFFECT. TENANT FURTHER ACKNOWLEDGES THAT IT HAS BEEN REPRESENTED (OR HAS HAD THE
OPPORTUNITY TO BE REPRESENTED) IN THE SIGNING OF THIS AGREEMENT AND IN THE MAKING OF THIS WAIVER BY INDEPENDENT LEGAL COUNSEL, SELECTED OF ITS OWN FREE WILL, AND THAT IT HAS HAD THE OPPORTUNITY TO DISCUSS THIS WAIVER WITH COUNSEL. TENANT FURTHER
ACKNOWLEDGES THAT IT HAS READ AND UNDERSTANDS THE MEANING AND RAMIFICATIONS OF THIS WAIVER PROVISION. 

             Landlord’s Initials
             Tenant’s Initials 
 Any disputes arising between Landlord and
Tenant shall be subject to resolution in accordance with this Section 25.20. In the event of such a dispute, the parties shall first attempt to resolve the same through good faith direct discussions. In the event that either party determines
that a dispute under this Agreement cannot be resolved by good faith direct discussions, then such dispute shall be resolved by judicial reference as provided for in Part 2, Title 8, Chapter 6 of the California Code of Civil Procedure
(“Reference Proceeding”). In connection therewith, the parties agree as follows: (i) should the parties not be able to agree upon a referee, either party may make application to the Orange County Superior Court for the appointment
thereof; (ii) Landlord and Tenant shall, initially, share equally the cost of the Reference Proceeding, which shall include the cost of the referee and, upon either party’s election, the cost of a certified shorthand reporter; and,
(iii) the referee shall have the discretion to award the aforementioned costs to the prevailing party pursuant to Section 25.11 (Attorneys’ Fees) of this Agreement. Furthermore, the referee shall not have the power to award punitive
damages nor any other damages against a party that are not expressly provided for in this Agreement. It is expressly understood and agreed that the provisions set forth in this Section 25.20 (relating to a Reference Proceeding) shall not apply
to an unlawful detainer action. 
 ARTICLE 26 
 RULES AND REGULATIONS 
 26.1 No sign, placard, picture, advertisement, name,
or notice shall be inscribed, displayed, printed, or affixed on or to any part of the outside or inside of the Building without the written consent of Landlord first had and obtained and Landlord shall have the right to remove any such sign,
placard, picture, advertisement, name, or notice without notice to and at the expense of Tenant. 
 26.2 All approved signs or
lettering on doors shall be printed, painted, affixed, or inscribed at the expense of Tenant by a person approved of by Landlord. 
 26.3 Tenant shall not place anything or allow anything to be placed near the glass of any window, door, partition, or wall which may appear unsightly from outside the Premises; provided, however, that
Landlord may furnish and install a Building standard window covering at all exterior windows. Tenant shall not in any way deface the Premises or any part thereof. Tenant shall not, without prior written consent of Landlord, cause or otherwise
sunscreen any window. 
 26.4 The sidewalks, halls, passages, exits, entrances, elevators, and stairways shall not be obstructed
by Tenant or used by for any purpose other than for ingress and egress from the Premises. 
 26.5 The toilet rooms, urinals,
wash bowls, and other apparatus shall not be used for any purpose other than that for which they were constructed and no foreign substance of any kind whatsoever shall be thrown therein and the expense of any breakage, stoppage, or damage resulting
from the violation of this rule shall be borne by the tenant who, or whose employees, or invitees shall have caused it. 
 26.6
Tenant shall not overload the floor of the Premises. 
 26.7 No furniture, freight, or equipment outside the ordinary course of
business shall be brought into the Building without prior notice to Landlord and all moving of the same into or out of the Building shall be done at such time and in such manner as Landlord reasonably shall designate. Landlord shall have the right
to prescribe the weight, size, and position of all safes and other heavy equipment brought into the Building and also the times and manner of moving the same in and out of the Building. Safes or other heavy objects shall, if considered necessary by
Landlord, stand on supports of such thickness as is necessary to distribute the weight properly. Landlord shall not be responsible for loss of or damage to any such safe or property from any cause and all damage done to the Building by moving or
maintaining any such safe or other property shall be repaired at the expense of Tenant. 

  
 Page 21

 26.8 Tenant shall not use, keep, or permit to be used or kept any foul or noxious gas or
substance in the Premises, or permit or suffer the Premises to be occupied or used in a manner offensive or objectionable to Landlord or other occupants or neighbors of the Building by reason of noise, odors, and/or vibrations, or interfere in any
way with other tenants, neighbors or those having business therein, nor shall any animals or birds be brought in or kept in or about the Premises or the Building. 
 26.9 The Premises or adjacent common areas may not be used for washing clothes, for lodging, or for any improper, objectionable, or immoral purposes. 

26.10 Tenant shall not use or keep in the Premises or the Building any kerosene, gasoline, or inflammable or combustible fluid or
material, or use any method of heating or air conditioning other than that supplied by Landlord or reasonably approved by Landlord. 
 26.11 Landlord shall direct electricians as to where and how telephone and telegraph wires are to be introduced. No boring or cutting for wires will be allowed without the consent of Landlord. The
location of telephones, call boxes, and other office equipment affixed to the Premises shall be subject to the reasonable approval of Landlord. 
 26.12 On Saturdays, Sundays, and legal holidays, and on other days between the hours of 6:00 p.m. and 8:00 a.m. the following day, access to the Premises or to the halls, corridors, elevators, or
stairways in the Building may be refused unless the person seeking access is known to the person or employee in charge of the Premises and has a pass or is properly identified. Landlord shall in no case be liable for damages for any error with
regard to the admission or exclusion from the Premises of any person or persons. In case of invasion, mob, riot, public excitement, or other commotion, Landlord reserves the right to prevent access to the Premises during the continuance of the same
by closing of the doors or otherwise, for the safety of the tenants and protection of property. 
 26.13 Landlord reserves the
right to exclude or expel from the Premises any person who in the judgment of Landlord is intoxicated or under the influence of liquor or drugs, or who shall in any manner do any act in violation of any of the rules and regulations of the Premises.

 26.14 Landlord shall have the right, exercisable without notice and without liability to Tenant, to change the name and
street address of the Premises. 
 26.15 Tenant shall not disturb, solicit, or canvass any occupant of the Premises and shall
cooperate to prevent same. 
 26.16 Without the written consent of Landlord, Tenant shall not use the name of the Premises in
connection with or in promoting or advertising the business of Tenant except as Tenant’s address. 
 26.17 Landlord shall
have the right to control and operate the public portions of the Premises and the public facilities and heating and air conditioning, as well as facilities furnished for the common use of the tenants, in such manner as it deems best for the benefit
of the tenants generally. 
 26.18 Without the written consent of Landlord, Tenant shall not conduct any auction, fire sale,
tent sale, going-out-of-business sale, or similar activity upon the Premises. 
 26.19 Smoking will only be permitted in
designated areas and shall not be permitted with 30 feet of the Building entrances. IN NO EVENT MAY ANY SMOKING OCCUR WITHIN THE BUILDING. 
 26.20 Use of portable electric heaters and toasters are prohibited. 
 Remainder
of Page Blank – Signatures Follow 

  
 Page 22

 IN WITNESS WHEREOF, Landlord and Tenant have duly executed this Agreement on the day and
year first above written. 
  

							
	 “Landlord”
  

Amnet Holdings, LLC,
 a California limited
liability company
  

By:                        
                                         
              
         Hezy
Shaked
         Manager
	 		 		 	 “Tenant”
  

World of Jeans & Tops,
 a California
corporation
  

By:                        
                                         
                                         
 
         Daniel Griesemer
         President & CEO

  
 Page 23

 TABLE OF CONTENTS 

 

					
	 Article
	  	Page	 
	 Article 1 BASIC AGREEMENT PROVISIONS
	  	 	2	  
		
	 Article 2 PREMISES
	  	 	3	  
		
	 Article 3 TERM AND POSSESSION
	  	 	3	  
		
	 Article 4 RENTAL
	  	 	3	  
		
	 Article 5 SECURITY DEPOSIT
	  	 	4	  
		
	 Article 6 POSSESSION AND QUIET ENJOYMENT
	  	 	5	  
		
	 Article 7 SERVICES, ASSESSMENTS, RESERVES AND UTILITIES
	  	 	5	  
		
	 Article 8 USE AND COMPLIANCE WITH THE LAW
	  	 	6	  
		
	 Article 9 HOLD HARMLESS
	  	 	6	  
		
	 Article 10 TENANT'S INSURANCE
	  	 	7	  
		
	 Article 11 REPAIRS AND MAINTENANCE
	  	 	9	  
		
	 Article 12 IMPROVEMENTS, ALTERATIONS, AND ADDITIONS
	  	 	10	  
		
	 Article 13 LIENS
	  	 	11	  
		
	 Article 14 RECONSTRUCTION
	  	 	11	  
		
	 Article 15 ENTRY BY LANDLORD
	  	 	12	  
		
	 Article 16 TAXES ON TENANT'S PROPERTY
	  	 	12	  
		
	 Article 17 EMINENT DOMAIN
	  	 	13	  
		
	 Article 18 ESTOPPEL CERTIFICATES
	  	 	13	  
		
	 Article 19 FINANCIAL STATEMENTS
	  	 	14	  
		
	 Article 20 DEFAULTS BY TENANT
	  	 	14	  
		
	 Article 21 DEFAULTS BY LANDLORD
	  	 	15	  
		
	 Article 22 ASSIGNMENT AND SUBLETTING
	  	 	16	  
		
	 Article 23 BROKERS
	  	 	17	  
		
	 Article 24 HAZARDOUS SUBSTANCES
	  	 	18	  
		
	 Article 25 GENERAL PROVISIONS
	  	 	19	  
		
	 Article 26 RULES AND REGULATIONS
	  	 	21Forty-second Supplemental Indenture

 Exhibit 4.1 
 EXECUTION VERSION 
 FORTY-SECOND SUPPLEMENTAL INDENTURE TO

 AMENDED AND RESTATED INDENTURE 
 FORTY-SECOND SUPPLEMENTAL INDENTURE dated March 22, 2012, among HOST HOTELS & RESORTS, L.P., a Delaware limited partnership (the “Company”), and THE BANK OF NEW YORK MELLON,
as Successor Trustee (the “Trustee”), to the Amended and Restated Indenture, dated as of August 5, 1998, as amended and supplemented through the date of this Forty-Second Supplemental Indenture (the
“Indenture”). 
 RECITALS 
 WHEREAS, the Company, certain Subsidiaries of the Company and HSBC Bank USA (f/k/a Marine Midland Bank) executed and delivered the Amended and Restated Indenture, dated as of August 5, 1998, amending
and restating the form of Indenture previously filed as Exhibit 4.1 to the Registration Statement (No. 333-50729) filed with the Securities and Exchange Commission (“Commission”) on Form S-3 by the Company, its Parents and certain
Subsidiaries of the Company; 
 WHEREAS, the Company desires to create a series of Securities to be issued under the Indenture,
as hereby supplemented, to be known as (i) the 5.25% Series A Senior Notes due 2022 (hereinafter, the “Series A Notes”) and (ii) the 5.25% Series B Senior Notes due 2022 to be exchanged for the Series A Notes (hereinafter,
the “Series B Notes”); 
 WHEREAS, Section 9.1(e) of the Indenture provides that the Company and the
Trustee may amend or supplement the Indenture without the written consent of the Holders of the outstanding Securities to provide for the issuance of and establish the form and terms and conditions of Securities of any Series as permitted by the
Indenture; 
 WHEREAS, all acts and things prescribed by the Indenture, by law and by the organizational documents of the
Company and the Trustee necessary to make this Forty-Second Supplemental Indenture a valid instrument legally binding on the Company and the Trustee, in accordance with its terms, have been duly done and performed; and 

WHEREAS, all conditions precedent to amend or supplement the Indenture have been met. 

NOW, THEREFORE, to comply with the provisions of the Indenture, and in consideration of the above premises, the Company and the Trustee
covenant and agree as follows: 
 ARTICLE 1 
 Section 1.01 Nature of Supplemental Indenture. This Forty-Second Supplemental Indenture supplements the Indenture and does and shall be deemed to form a part of, and shall be construed in
connection with and as part of, the Indenture for any and all purposes. 

 Section 1.02 Establishment of New Series. Pursuant to Section 2.2 of the
Indenture, there is hereby established the Series A Notes and the Series B Notes (collectively, the “5.25% Notes”) having the terms, in addition to those set forth in the Indenture and this Forty-Second Supplemental Indenture, set
forth in the form of 5.25% Notes, attached to this Forty-Second Supplemental Indenture as Exhibit A, which is incorporated herein as a part of this Forty-Second Supplemental Indenture. In addition to the initial aggregate principal amount of Series
A Notes issued on the Series Issue Date, the Company may issue additional Series A Notes (the “Additional Notes”) under the Indenture and this Forty-Second Supplemental Indenture in accordance with Section 2.2 of the Indenture
and Section 4.7 of the Indenture, as supplemented by Section 5.01 below of this Forty-Second Supplemental Indenture. 

Section 1.03 Redemption. (a) At any time, upon not less than 30 nor more than 60 days’ notice, the Company may
redeem the 5.25% Notes in whole or in part, at a Redemption Price equal to 100% of the principal amount thereof plus the Make-Whole Premium, together with accrued and unpaid interest thereon, if any, to the applicable Redemption Date (subject to the
right of Holders of record on the relevant Record Date to receive interest due on an Interest Payment Date that is on or prior to the applicable Redemption Date). 
 (b) Notwithstanding the foregoing, within the period beginning 90 days prior to their Stated Maturity, upon not less than 30 nor more than 60 days’ notice, the Company may redeem the 5.25% Notes in
whole or in part, at a Redemption Price equal to 100% of the principal amount thereof, together with accrued and unpaid interest thereon, if any, to the applicable Redemption Date (subject to the right of Holders of record on the relevant Record
Date to receive interest due on an Interest Payment Date that is on or prior to the applicable Redemption Date). 
 (c) The
5.25% Notes will not have the benefit of any sinking fund. 
 (d) Notice of a redemption of the 5.25% Notes made pursuant to
this Section 1.03 shall be given in the manner set forth in Section 3.3 of the Indenture; provided, however, that any such notice need not set forth the Redemption Price but need only set forth the calculation thereof as described in
subsection (a) of this Section 1.03. The Redemption Price, calculated as aforesaid, shall be set forth in an Officer’s Certificate delivered by the Company to the Trustee no later than one Business Day prior to the Redemption Date.

 (e) The Company is not prohibited from acquiring the 5.25% Notes by means other than a redemption, whether pursuant to an
issuer tender offer, in open market transactions, or otherwise, assuming such acquisition does not otherwise violate the terms of the Indenture. 
 ARTICLE 2 
 Section 2.01 “Subsidiary Guarantors” means, with
respect to the 5.25% Notes, any Future Subsidiary Guarantors that provide a Subsidiary Guarantee with respect to the 5.25% Notes pursuant to the terms of the Indenture, but excluding any Persons whose Guarantees have been released pursuant to the
terms of the Indenture. The provisions of Article 12 of the Indenture will be applicable to the 5.25% Notes. 

  
 2 

 Section 2.02 The second sentence of the definition of “Subsidiary
Guarantee” set forth in Section 1.1 of the Indenture shall read, for purposes of the 5.25% Notes, as follows: “Each Subsidiary Guarantee with respect to the 5.25% Notes will be a senior obligation of the Subsidiary Guarantor and
will be full and unconditional regardless of the enforceability of the 5.25% Notes, the Forty-Second Supplemental Indenture or the Indenture.” 
 ARTICLE 3 
 Section 3.01 Subject to the further provisions of this Article
3 and Article 5 of this Forty-Second Supplemental Indenture, the covenants set forth in Article 4 of the Indenture shall be applicable to the 5.25% Notes. By virtue of the occurrence of the REIT Conversion, Section 4.15 of the Indenture (as
replaced and superseded by Section 5.03 of this Forty-Second Supplemental Indenture) is applicable, and Section 4.9 of the Indenture is inapplicable, to the 5.25% Notes. 

Section 3.02 The provisions of Sections 4.10 and 4.11 of the Indenture as supplemented by Section 5.06 hereof and as amended and
supplemented by Section 5.07 hereof, respectively, and Sections 5.01, 5.02, 5.03 and 5.04 hereof, together with Sections 4.7, 4.8, 4.15 and 4.12 of the Indenture, respectively, replaced and superseded thereby (collectively, the “Suspended
Covenants”) shall not be applicable to the 5.25% Notes, in the event and only for so long as, the 5.25% Notes are rated Investment Grade. 
 Section 3.03 Notwithstanding the foregoing, in the event that one or both of the Rating Agencies withdraws its ratings or downgrades the ratings assigned to the 5.25% Notes below the required Investment
Grade, the foregoing covenants will be reinstated as of and from the date of such withdrawal or ratings downgrade (and as supplemented, amended or replaced and superseded as of the date hereof). Calculations under the reinstated Section 5.03 of
this Forty-Second Supplemental Indenture will be made as if Section 5.03 of this Forty-Second Supplemental Indenture had been in effect since the Series Issue Date except that no Default or Event of Default will be deemed to have occurred
solely by reason of a Restricted Payment made while that covenant was suspended. 
 Section 3.04 For avoidance of doubt, the
definition of “GAAP” contained in the Indenture shall apply in all instances to the 5.25% Notes and the provisions of Section 1.4(c) of the Indenture shall not apply in any instance to the 5.25% Notes. 

Section 3.05 Section 9.1 of the Indenture is hereby supplemented by the following clause solely with respect to the 5.25% Notes:

 “(k) to conform the text of this Indenture or the 5.25% Notes to any provision of the “Description of Series A
Senior Notes” section of the Company’s Offering Memorandum dated March 14, 2012, relating to the initial offering of the 5.25% Notes, to the extent that such provision in that “Description of Series A Senior Notes” was
intended to be a verbatim recitation of a provision of this Indenture or of the 5.25% Notes.” 

  
 3 

 Section 3.06 Section 10.1 of the Indenture is hereby supplemented by adding the
following paragraph at the end of such Section, solely with respect to the 5.25% Notes: 
 “Notwithstanding the foregoing,
the Company will not be required to make a Change of Control Offer upon a Change of Control Triggering Event if (1) a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements
set forth in the Indenture applicable to a Change of Control Offer made by the Company and purchases all 5.25% Notes properly tendered and not withdrawn under the Change of Control Offer, or (2) notice of redemption has been given pursuant to
the Indenture in accordance with Section 3.3 of the Indenture and Section 1.03 of the Forty-Second Supplemental Indenture unless and until there is a default in payment of the applicable Redemption Price.” 

Section 3.07 The second sentence of the penultimate paragraph of Section 10.1 of the Indenture, as supplemented by Section 3.06
hereof, shall read, for purposes of the 5.25% Notes, as follows: 
 “The Paying Agent shall on the Change of Control
Payment Date or promptly thereafter deliver or cause to be delivered to Holders of Securities so accepted payment in an amount equal to the Change of Control Payment (together with accrued and unpaid interest) for such Securities (subject to clause
(b)(4) above), and the Trustee or its authenticating agent shall promptly authenticate and the Registrar shall deliver (or cause to be transferred by book entry) to such Holders a new Security equal in principal amount to any unpurchased portion of
the Security surrendered; provided, however, that each such new Security will be in a principal amount of $1,000 or an integral multiple thereof. Any Securities not so accepted shall be promptly mailed or delivered by the Company to the Holder
thereof. The Company will publicly announce the results of the Change of Control Offer on or as soon as practicable after the consummation thereof.” 
 ARTICLE 4 
 Section 4.01 For all purposes of this Forty-Second Supplemental
Indenture, except as otherwise expressly provided or unless the context requires otherwise: 
 (a) A term defined in the
Indenture and not otherwise defined herein has the same meaning when used in this Forty-Second Supplemental Indenture; and 

(b) The following terms have the meanings given to them in this Section 4.01 and shall have the meaning set forth below for the
purposes of this Forty-Second Supplemental Indenture and the Indenture solely with respect to the 5.25% Notes: 

“5.25% Notes” means collectively, the Series A Notes and, when and if issued as provided in the Registration Rights
Agreement, the Exchange Notes. 
 “Applicable Procedures” means, with respect to any transfer or exchange of or
for beneficial interests in any Global Note, the rules and procedures of the Depository, Euroclear and Clearstream that apply to such transfer or exchange at the relevant time. 

“Certificated Note” means a certificated 5.25% Note registered in the name of the Holder thereof and issued in
accordance with Section 6.01 of this Forty-Second Supplemental Indenture, in the form of Exhibit A to this Forty-Second Supplemental Indenture except that such Note shall not include the information called for by footnotes 2, 5 and 8 thereof.

  
 4 

 “Change of Control” means: (i) any sale, transfer or other conveyance,
whether direct or indirect, of all or substantially all of the assets of the Company or Host or Host REIT (for so long as Host or Host REIT is a Parent of the Company immediately prior to such transaction or series of related transactions), on a
consolidated basis, in one transaction or a series of related transactions, if, immediately after giving effect to such transaction, any “person” or “group” (as such terms are used for purposes of Sections 13(d) and 14(d) of the
Exchange Act, whether or not applicable) other than an Excluded Person is or becomes the “beneficial owner,” directly or indirectly, of more than 50% of the total voting power in the aggregate normally entitled to vote in the election of
directors, managers, or trustees, as applicable, of the transferee; (ii) any “person” or “group” (as such terms are used for purposes of Sections 13(d) and 14(d) of the Exchange Act, whether or not applicable) other than an
Excluded Person is or becomes the “beneficial owner,” directly or indirectly, of more than 50% of the total voting power in the aggregate of all classes of Capital Stock of the Company (or Host or Host REIT for so long as Host or Host REIT
is a Parent of the Company immediately prior to such transaction or series of related transactions) then outstanding normally entitled to vote in elections of directors, managers or trustees, as applicable; (iii) during any period of 12
consecutive months after the Issue Date (for so long as Host or Host REIT is a Parent of the Company immediately prior to such transaction or series of related transactions), Persons who at the beginning of such 12-month period constituted the Board
of Host or Host REIT (together with any new Persons (i) whose election was approved by a vote of a majority of the Persons then still comprising the Board who were either members of the Board at the beginning of such period or whose election,
designation or nomination for election was previously so approved, and (ii) who are members of the Board (A) who were nominated by a shareholder or group of shareholders of Host or Host REIT for election to such Board, and (B) whose
nomination as a member of such Board was included in the definitive proxy statement of Host or Host REIT, as applicable, pursuant to (I) Rule 14a-11 under the Exchange Act or any successor rule or similar requirement, or (II) a requirement in
the bylaws of Host or Host REIT, to include in its proxy solicitation materials, a Person nominated for election to the Board by a shareholder or group of shareholders), cease for any reason to constitute a majority of the Board of Host or Host
REIT, as applicable, then in office; or (iv) Host REIT ceases to be a general partner of the Operating Partnership or ceases to control the Company; provided, however, that neither (x) the pro rata distribution by Host to its shareholders
of shares of the Company or shares of any of Host’s or Host REIT’s other Subsidiaries; nor (y) the REIT Conversion (or any element thereof), shall, in and of itself, constitute a Change of Control for purposes of this definition.

 “Clearstream” means Clearstream Banking S.A., or its successors. 

“Consolidated Coverage Ratio” of any Person on any Transaction Date means the ratio, on a pro forma basis, of:

 (a) the aggregate amount of Consolidated EBITDA of such Person attributable to continuing operations and businesses
(exclusive of amounts attributable to operations and businesses permanently discontinued or disposed of) for the Reference Period, 

  
 5 

 to: 
 (b) the aggregate Consolidated Interest Expense of such Person (exclusive of amounts attributable to operations and businesses permanently discontinued or disposed of, but only to the extent that the
obligations giving rise to such Consolidated Interest Expense would no longer be obligations contributing to such Person’s Consolidated Interest Expense subsequent to the Transaction Date) during the Reference Period; 

provided that for purposes of such calculation: 

(1) acquisitions of operations, businesses or other income-producing assets (including any reinvestment of disposition
proceeds in income-producing assets held as of and not disposed on the Transaction Date) which occurred during the Reference Period or subsequent to the Reference Period and on or prior to the Transaction Date shall be assumed to have occurred on
the first day of the Reference Period; 
 (2) transactions giving rise to the need to calculate the Consolidated
Coverage Ratio shall be assumed to have occurred on the first day of the Reference Period; 
 (3) the incurrence
of any Indebtedness or issuance of any Disqualified Stock during the Reference Period or subsequent to the Reference Period and on or prior to the Transaction Date (and the application of the proceeds therefrom to the extent used to refinance or
retire other Indebtedness or invested in income-producing assets held as of and not disposed on the Transaction Date) shall be assumed to have occurred on the first day of such Reference Period; 

(4) the Consolidated Interest Expense of such Person attributable to interest on any Indebtedness or dividends on any
Disqualified Stock bearing a floating interest (or dividend) rate shall be computed on a pro forma basis as if the average rate in effect from the beginning of the Reference Period to the Transaction Date had been the applicable rate for the entire
period, unless such Person or any of its Subsidiaries is a party to an Interest Swap and Hedging Obligation (which shall remain in effect for the 12-month period immediately following the Transaction Date) that has the effect of fixing the interest
rate on the date of computation, in which case such rate (whether higher or lower) shall be used; and 
 (5)
whenever pro forma effect is to be given to an acquisition of assets, the amount of income or earnings related thereto and the amount of Consolidated Interest Expense associated with any Indebtedness Incurred in connection therewith, the pro forma
calculation shall be determined in good faith by a responsible financial or accounting officer of the Company. 

“Consolidated EBITDA” means, for any Person and for any period, the Consolidated Net Income of such Person for such
period adjusted to add thereto (to the extent deducted from net revenues in determining Consolidated Net Income), without duplication: (A) the sum of: (i) Consolidated Interest Expense; (ii) provisions for taxes based on income (to
the extent of such Person’s proportionate interest therein); (iii) depreciation and amortization 

  
 6 

 
expense (to the extent of such Person’s proportionate interest therein); (iv) any other noncash items reducing the Consolidated Net Income of such Person for such period (to the extent
of such Person’s proportionate interest therein); (v) any dividends or distributions during such period to such Person or a Consolidated Subsidiary (to the extent of such Person’s proportionate interest therein) of such Person from
any other Person which is not a Restricted Subsidiary of such Person or which is accounted for by such Person by the equity method of accounting (other than a Non-Consolidated Restricted Entity), to the extent that: (a) such dividends or
distributions are not included in the Consolidated Net Income of such Person for such period, and (b) the sum of such dividends and distributions, plus the aggregate amount of dividends or distributions from such other Person since the Issue
Date that have been included in Consolidated EBITDA pursuant to this clause (v), do not exceed the cumulative net income of such other Person attributable to the equity interests of the Person (or Restricted Subsidiary of the Person) whose
Consolidated EBITDA is being determined; (vi) any cash receipts of such Person or a Consolidated Subsidiary of such Person (to the extent of such Person’s proportionate interest therein) during such period that represent items included in
Consolidated Net Income of such Person for a prior period which were excluded from Consolidated EBITDA of such Person for such prior period by virtue of clause (B) of this definition; and (vii) any nonrecurring expenses incurred in
connection with the REIT Conversion, minus: (B) the sum of: (I) all non-cash items increasing the Consolidated Net Income of such Person or of a Consolidated Subsidiary of such Person (to the extent of such Person’s proportionate
interest therein) for such period; and (II) any cash expenditures of such Person or a Consolidated Subsidiary of such Person (to the extent of such Person’s proportionate interest therein) during such period to the extent such cash expenditures
(a) did not reduce the Consolidated Net Income of such Person or a Consolidated Subsidiary of such Person for such period and (b) were applied against reserves or accruals that constituted noncash items reducing the Consolidated Net Income
of such Person or a Consolidated Subsidiary of such Person (to the extent of such Person’s proportionate interest therein) when reserved or accrued; all as determined on a consolidated basis for such Person and its Consolidated Subsidiaries (it
being understood that the accounts of such Person’s Consolidated Subsidiaries shall be consolidated only to the extent of such Person’s proportionate interest therein). 

“Credit Facility” means the credit facility established pursuant to the Credit Agreement, dated as of November 22,
2011, among the Company, the other Subsidiary borrowers named therein, Bank of America, N.A., as Administrative Agent, and other agents and lenders party thereto, together with all other agreements, instruments and documents executed or delivered
pursuant thereto or in connection therewith, in each case as such agreements, instruments or documents may be amended, supplemented, extended, renewed, replaced or otherwise modified or restructured from time to time (including by way of adding
Subsidiaries of the Company as additional borrowers or guarantors thereof), whether by the same or any other agent, lender or group of lenders (including by means of sales of debt securities to institutional investors) but excluding Indebtedness
incurred under clause (12) of paragraph (d) of Section 5.01 of this Forty-Second Supplemental Indenture.  

“Depository” means, with respect to the 5.25% Notes issuable or issued in whole or in part in global form, the
Depository Trust Company (“DTC”), and any and all successors thereto appointed as depository by the Company. 

  
 7 

 “Euroclear” means Euroclear Bank S.A./N.V., or its successor, as operator
of the Euroclear system. 
 “Exchange Notes” means the Series B Notes, which will be issued in exchange for
Series A Notes pursuant to an Exchange Offer. 
 “Exchange Offer” means the offer that is to be made by the
Company in accordance with the terms of the Registration Rights Agreement. 
 “Exempted Affiliate Transaction”
means each of (i) employee compensation arrangements approved by a majority of independent (as to such transactions) members of the Board of the Company; (ii) payments of reasonable fees and expenses to the members of the Board;
(iii) transactions solely between the Company and any of its Subsidiaries or solely among Subsidiaries of the Company; (iv) Permitted Tax Payments; (v) Permitted Sharing Arrangements; (vi) Procurement Contracts;
(vii) Operating Agreements; (viii) Restricted Payments permitted under Section 5.03 of this Forty-Second Supplemental Indenture; (ix) any and all elements of the REIT Conversion; and (x) any Affiliate Transaction involving
aggregate consideration of less than $1.0 million in any 12-month period. 
 “Existing Senior
Notes” means amounts outstanding from time to time of (i) the 6 3/8% Senior Notes due 2015; (ii) the 6 3/4% Senior Notes due 2016; (iii) the 6 7/8% Senior Notes due 2014; (iv) the 9% Senior Notes due 2017; (v) the
5 7/8% Senior Notes due 2019; (vi) the 6%
Senior Notes due 2020; (vii) the 6% Senior Notes due 2021; (viii) the 3 1/4% Exchangeable Senior Debentures due 2024; (ix) the
2 5/8% Exchangeable Senior Debentures due 2027; and
(x) the 2 1/2% Exchangeable Senior Debentures
due 2029, in each case, not in excess of amounts outstanding immediately following the Series Issue Date of the 5.25% Notes, less amounts retired from time to time. 

“Foreign Subsidiary” means any Restricted Subsidiary that is not organized under the laws of the United States of
America or any State thereof or the District of Columbia and any direct or indirect Subsidiary of such Restricted Subsidiary. 

“Global Note” means a 5.25% Note that includes the information referred to in footnotes 2, 5 and 8 to the form of 5.25%
Note, attached to this Forty-Second Supplemental Indenture as Exhibit A, issued under the Indenture, that is deposited with or on behalf of and registered in the name of the Depository or a nominee of the Depository. 

“Global Note Legend” means the legend set forth in Section 6.01(g)(2) of this Forty-Second Supplemental Indenture,
which is required to be placed on all Global Notes issued under the Indenture. 
 “HMH Properties” means HMH
Properties, Inc., a Delaware corporation, which was merged into the Operating Partnership on December 16, 1998. 

“Host REIT” means Host Hotels & Resorts, Inc., a Maryland corporation and the successor by merger to Host,
which is the sole general partner of the Operating Partnership following the REIT Conversion, and its successors and assigns. 

  
 8 

 “Host REIT Merger” means the merger of Host with and into Host REIT, with
Host REIT surviving the merger, which merger occurred on December 29, 1998. 
 “Indirect Participant”
means an entity that, with respect to DTC, clears through or maintains a direct or indirect custodial relationship with a Participant. 
 “Initial Purchasers” means: 

                      
              Goldman, Sachs & Co., 

                       
             Deutsche Bank Securities Inc., 

                       
             J.P. Morgan Securities LLC, and 

                       
             Merrill Lynch, Pierce, Fenner & Smith Incorporated, 
                                   
   as representatives of the several initial 

                       
             purchasers. 
 “Institutional Accredited
Investor” means an institution that is an “accredited investor” as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act, who is not also a QIB. 

“Letter of Transmittal” means the letter of transmittal to be prepared by the Company and sent to all Holders of the
Series A Notes for use by such Holders in connection with the Exchange Offer. 
 “Make-Whole Premium” means,
with respect to any 5.25% Note at any Redemption Date, the excess, if any, of (a) the present value of the sum of the principal amount and all remaining interest payments (not including any portion of such payments of interest accrued as of the
Redemption Date), discounted on a semi-annual bond equivalent basis from such maturity date to the Redemption Date at a per annum interest rate equal to the sum of the Treasury Yield (determined on the Business Day immediately preceding such
Redemption Date) plus 50 basis points, over (b) the principal amount of the 5.25% Note being redeemed. 

“Merger” means, the merger of HMH Properties with and into the Operating Partnership with the Operating Partnership as
the surviving entity, which merger occurred on December 16, 1998. 
 “Net Cash Proceeds” means,
(i) with respect to any Asset Sale other than the sale of Capital Stock of a Restricted Subsidiary, the proceeds of such Asset Sale in the form of cash or Cash Equivalents, including payments in respect of deferred payment obligations (to the
extent corresponding to the principal, but not interest, component thereof) when received in the form of cash or Cash Equivalents (except to the extent such obligations are financed or sold with recourse to the Company or any of its Restricted
Subsidiaries) and proceeds from the conversion of other property received when converted to cash or Cash Equivalents, net of: 

(a) brokerage commissions and other fees and expenses (including fees and expenses of counsel and investment bankers) related to such
Asset Sale; 

  
 9 

 (b) provisions for all Taxes (including Taxes of Host REIT) actually paid or payable as a
result of such Asset Sale by the Company and its Restricted Subsidiaries, taken as a whole; 
 (c) payments made to repay
Indebtedness (other than Indebtedness subordinated in right of payment to the 5.25% Notes or a Subsidiary Guarantee) or any other obligations outstanding at the time of such Asset Sale that either (I) is secured by a Lien on the property or
assets sold; or (II) is required to be paid as a result of such sale; 
 (d) amounts reserved by the Company and its Restricted
Subsidiaries against any liabilities associated with such Asset Sale, including, without limitation, pension and other post employment benefit liabilities, liabilities related to environmental matters and liabilities under any indemnification
obligations associated with such Asset Sale, all as determined on a consolidated basis in conformity with GAAP; and 
 (e) any
Permitted REIT Distributions related to such Asset Sale; 
 (provided, however, that with respect to an Asset Sale by any Person
other than the Company or a Wholly Owned Subsidiary, Net Cash Proceeds shall be the above amount multiplied by the Company’s (direct or indirect) percentage ownership interest in such Person); and 

(ii) with respect to any issuance or sale of Capital Stock, the proceeds of such issuance or sale in the form of cash or Cash
Equivalents, including payments in respect of deferred payment obligations (to the extent corresponding to the principal, but not interest, component thereof) when received in the form of cash or Cash Equivalents (except to the extent such
obligations are financed or sold with recourse to the Company or any of its Restricted Subsidiaries) and proceeds from the conversion of other property received when converted to cash or Cash Equivalents, net of attorney’s fees,
accountant’s fees, underwriters’ or placement agents’ fees, discounts or commissions and brokerage, consultant and other fees incurred in connection with such issuance or sale and net of tax paid or payable as a result thereof
(provided, however, that with respect to an issuance or sale by any Person other than the Company or a Wholly Owned Subsidiary, Net Cash Proceeds shall be the above amount multiplied by the Company’s (direct or indirect) percentage ownership
interest in such Person). 
 “Offering Memorandum” means the Offering Memorandum of the Company dated
March 14, 2012 with respect to the 5.25% Notes. 
 “Officer’s Certificate” means a certificate
signed on behalf of the Company or Subsidiary Guarantor, as applicable, by an officer of the Company or Subsidiary Guarantor, as applicable, who must be the principal executive officer, the principal financial officer, the treasurer or the principal
accounting officer of the Company or Subsidiary Guarantor, as applicable. 
 “Participant” means, with respect
to the Depository, Euroclear or Clearstream, a Person who has an account with the Depository, Euroclear or Clearstream, respectively (and, with respect to The Depository Trust Company, shall include Euroclear and Clearstream). 

“Paying Agent” means, until otherwise designated, the Trustee. 

  
 10 

 “Permitted Investment” means any of the following: (i) an Investment
in Cash Equivalents; (ii) Investments in a Person substantially all of whose assets are of a type generally used in a Related Business (an “Acquired Person”) if, as a result of such Investments: (a) the Acquired Person
immediately thereupon is or becomes a Restricted Subsidiary of the Company; or (b) the Acquired Person immediately thereupon either (I) is merged or consolidated with or into the Company or any of its Restricted Subsidiaries and the
surviving Person is the Company or a Restricted Subsidiary of the Company or (II) transfers or conveys all or substantially all of its assets to, or is liquidated into, the Company or any of its Restricted Subsidiaries; (iii) an Investment in a
Person, provided that: (A) such Person is principally engaged in a Related Business; (B) the Company or one or more of its Restricted Subsidiaries participates in the management of such Person, as a general partner, member of such
Person’s governing board or otherwise; and (C) any such Investment shall not be a Permitted Investment if, after giving effect thereto, the aggregate amount of Net Investments outstanding made in reliance on this clause
(iii) subsequent to the Issue Date would exceed 10% of Total Assets; (iv) Permitted Sharing Arrangement Payments; (v) securities received in connection with an Asset Sale so long as such Asset Sale complied with the Indenture
including Section 5.04 of this Forty-Second Supplemental Indenture (but, only to the extent the fair market value of such securities and all other non-cash and non-Cash Equivalent consideration received complies with clause (2) of the
first paragraph of Section 5.04 of this Forty-Second Supplemental Indenture); (vi) Investments in the Company or in Restricted Subsidiaries of the Company; (vii) Permitted Mortgage Investments; (viii) any Investments constituting
part of the REIT Conversion; and (ix) any Investments in a Non-Consolidated Entity, provided that (after giving effect to such Investment) the total assets (before depreciation and amortization) of all Non-Consolidated Entities attributable to
the Company’s proportionate ownership interest therein, plus an amount equal to the Net Investments outstanding made in reliance upon clause (iii) above, does not exceed 20% of the total assets (before depreciation and amortization) of the
Company and its Consolidated Subsidiaries (to the extent of the Company’s proportionate ownership interest therein). 

“Permitted REIT Distributions” means, so long as Host REIT believes in good faith after reasonable diligence that Host
REIT qualifies as REIT under the Code, a declaration or payment of any dividend or the making of any distribution: (i) to Host REIT equal to the greater of: (a) the amount estimated by Host REIT in good faith after reasonable diligence to
be necessary to permit Host REIT to distribute to its shareholders with respect to any calendar year (whether made during such year or after the end thereof) 100% of the “real estate investment trust taxable income” of Host REIT within the
meaning of Code Section 857(b)(2), determined without regard to deductions for dividends paid and the exclusions set forth in Code Sections 857(b)(2)(C), (D), (E) and (F) but including therein all net capital gains and net recognized
built-in gains within the meaning of Treasury Regulations 1.337(d)-6 (whether or not such gains might otherwise be excluded or excludable therefrom); or (b) the amount that is estimated by Host REIT in good faith after reasonable diligence to
be necessary either to maintain Host REIT’s status as a REIT under the Code for any calendar year or to enable Host REIT to avoid the payment of any tax for any calendar year that could be avoided by reason of a distribution by Host REIT to its
shareholders, with such distributions to be made as and when determined by Host REIT, whether during or after the end of the relevant calendar year; in either the case of (a) or (b) if: (i) the aggregate principal amount of all
outstanding Indebtedness (other than the QUIPs Debt) of the Company and its Restricted Subsidiaries on a consolidated basis at such time is less than 80% of Adjusted Total Assets of the Company; and (II) no Default or Event of

  
 11 

 
Default shall have occurred and be continuing; and (ii) to any Person in respect of any Units, which distribution is required as a result of or a condition to the distribution or payment of
such dividend or distribution to Host REIT. 
 “Private Placement Legend” means the legend set forth in
Section 6.01(g)(1) of this Forty-Second Supplemental Indenture to be placed on all Series A Notes issued under the Indenture except where otherwise permitted by the provisions of the Indenture. 

“QIB” means a “qualified institutional buyer” as defined in Rule 144A. 

“Qualified Assets” means (i) Capital Stock of the Company or any of its Subsidiaries or of other Subsidiaries of
Host, Host REIT and each other Parent of the Company substantially all of whose sole assets are direct or indirect interests in Capital Stock of the Company; and (ii) other assets related to corporate operations of Host, Host REIT and each
other Parent of the Company which are de minimis in relation to those of Host, Host REIT and each other Parent of the Company and their Restricted Subsidiaries, taken as a whole. 

“Reference Period” with regard to any Person means the four full fiscal quarters (for which internal financial
statements are available) ended immediately preceding any date upon which any determination is to be made pursuant to the terms of the Securities or the Indenture. 
 “Refinancing Indebtedness” means Indebtedness or Disqualified Stock: (i) issued in exchange for, or the proceeds from the issuance and sale of which are used substantially
concurrently to repay, redeem, defease, refund, refinance, discharge or otherwise retire for value, in whole or in part; or (ii) constituting an amendment, modification or supplement to, or a deferral or renewal of ((i) and (ii) above
are, collectively, a “Refinancing”), any Indebtedness or Disqualified Stock in a principal amount (or accreted value, if applicable) or, in the case of Disqualified Stock, liquidation preference, not to exceed: (a) the principal
amount (or accreted value, if applicable) or, in the case of Disqualified Stock, liquidation preference, of the Indebtedness or Disqualified Stock so refinanced; plus (b) all accrued interest on the Indebtedness and the amount of all expenses
and premiums incurred in connection therewith; provided that Refinancing Indebtedness (other than a revolving line of credit from a commercial lender or other Indebtedness whose proceeds are used to repay a revolving line of credit from a
commercial lender to the extent such revolving line of credit or other Indebtedness was not put in place for purposes of evading the limitations described in this definition) shall: (x) not have an Average Life shorter than the Indebtedness or
Disqualified Stock to be so refinanced at the time of such Refinancing; and (y) be subordinated in right of payment to the rights of Holders of the 5.25% Notes if the Indebtedness or Disqualified Stock to be refinanced was so subordinated.

 “Registration Rights Agreement” means the Registration Rights Agreement, dated as of March 22, 2012, by
and among the Company and the Initial Purchasers, as such agreement may be amended, modified or supplemented from time to time.  
 “Regulation S” means Regulation S promulgated under the Securities Act, as it may be amended from time to time, and any successor provision thereto. 

  
 12 

 “Regulation S Global Note” means a Global Note substantially in the form of
Exhibit A hereto bearing the Global Note Legend and the Private Placement Legend and deposited with or on behalf of and registered in the name of the Depository or its nominee, issued in a denomination equal to the outstanding principal amount of
the notes sold in reliance on Rule 903 of Regulation S. 
 “Regulation S Restricted Period” means the 40-day
period beginning on the later of (i) the day that the Initial Purchasers advise the Company and the Trustee in writing is the first day on which the Series A Notes were offered to persons other than distributors (as defined in Regulation S) in
reliance on Regulation S and (ii) March 22, 2012. 
 “Restricted Certificated Note” means a
Certificated Note that includes the information called for in footnotes 6 and 7 (and not in footnotes 2, 5 and 8) to the form of 5.25% Note attached to this Forty-Second Supplemental Indenture as Exhibit A, issued under the Indenture. 

“Restricted Global Note” means a Global Note that includes the information called for in footnotes 2, 5, 6, 7 and 8 to
the form of Note, attached to this Forty-Second Supplemental Indenture as Exhibit A, issued under the Indenture; provided, that in no case shall an Exchange Note issued in accordance with the Indenture and the terms of the Registration Rights
Agreement be a Restricted Global Note. 
 “Restricted Payment” means, with respect to any Person (but without
duplication): 
 (1) the declaration or payment of any dividend or other distribution in respect of Capital Stock of such Person
or the Parent or any Restricted Subsidiary of such Person; 
 (2) any payment on account of the purchase, redemption or other
acquisition or retirement for value of Capital Stock of such Person or the Parent or any Restricted Subsidiary of such Person; 

(3) other than with the proceeds from the substantially concurrent sale of, or in exchange for, Refinancing Indebtedness, any purchase,
redemption, or other acquisition or retirement for value of, any payment in respect of any amendment of the terms of or any defeasance of, any Subordinated Indebtedness, directly or indirectly, by such Person or the Parent or a Restricted Subsidiary
of such Person prior to the scheduled maturity, any scheduled repayment of principal, or scheduled sinking fund payment, as the case may be, of such Indebtedness; 
 (4) any Restricted Investment by such Person; and 
 (5) the payment to any
Affiliate (other than the Company or its Restricted Subsidiaries) in respect of taxes owed by any consolidated group of which both such Person or a Subsidiary of such Person and such Affiliate are members; 

  
 13 

 provided, however, that the term “Restricted Payment” does not
include: 
 (a) any dividend, distribution or other payment on or with respect to Capital Stock of the Company to the extent
payable solely in shares of Qualified Capital Stock; 
 (b) any dividend, distribution or other payment to the Company, or to
any of the Subsidiary Guarantors, by the Company or any of its Restricted Subsidiaries; 
 (c) Permitted Tax Payments;

 (d) the declaration or payment of dividends or other distributions by any Restricted Subsidiary of the Company, provided
such distributions are made to the Company (or a Subsidiary of the Company, as applicable) on a pro rata basis (and in like form) with all dividends and distributions so made; 

(e) the retirement of Units upon conversion of such Units to Capital Stock of Host REIT; 

(f) any transactions comprising part of the REIT Conversion; 
 (g) any payments with respect to Disqualified Stock or Indebtedness at the stated time and amounts pursuant to the original terms of the instruments governing such obligations; 

(h) Permitted REIT Payments; 
 (i) payments in accordance with the existing terms of the QUIPs; and 
 (j) the
declaration or payment of dividends or other distributions by any Restricted Subsidiary of the Company that qualifies as a REIT not exceeding $10 million in any calendar year by all such Restricted Subsidiaries; 

and provided, further, that any payments of bona fide obligations of the Company or any Restricted Subsidiary shall not be deemed to be
Restricted Payments solely by virtue of the fact of another Person’s co-obligation with respect thereto. 
 “Rule
144A” means Rule 144A promulgated under the Securities Act, as it may be amended from time to time, and any successor provision thereto. 
 “Rule 144A Global Note” means a Global Note issued in accordance with Rule 144A. 
 “Rule 144A Restricted Global Note” means a Restricted Global Note issued in accordance with Rule 144A. 
 “Series Issue Date” means with respect to any series of Indebtedness issued under the Indenture, the date any notes of such series are first issued. 

“Shelf Registration Statement” shall have the meaning set forth in the Registration Rights Agreement. 

  
 14 

 “SLC” means HMC Senior Communities, Inc., a Delaware corporation, and its
successor Crestline Capital Corporation, a Maryland corporation, and its successors and assigns. 
 “Transfer Restricted
Notes” means Series A Notes that include the information called for by footnotes 6 and 7 to the form of 5.25% Note, attached to this Forty-Second Supplemental Indenture as Exhibit A, issued under the Indenture. 

“Treasury Yield” means the yield to maturity at the time of computation of United States Treasury securities with a
constant maturity (as compiled by and published in the most recent Federal Reserve Statistical Release H.15 (519) which has become publicly available at least two Business Days prior to the date fixed for redemption (or, if such Statistical
Release is no longer published, any publicly available source of similar data)) most nearly equal to the then remaining average life of the 5.25% Notes, provided that if the average life of the 5.25% Notes is not equal to the constant maturity of a
United States Treasury security for which a weekly average yield is given, the Treasury yield shall be obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly average yields of United States Treasury
securities for which such yields are given, except that if the average life of the 5.25% Notes is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year shall be
used. 
 “Unrestricted Certificated Notes” means one or more Certificated Notes that do not include and are not
required to include the information called for by footnotes 6 and 7 to the form Series A Note, attached to this Forty-Second Supplemental Indenture as Exhibit A, issued under the Indenture. 

“Unrestricted Global Note” means a permanent Global Note in the form of Exhibit A attached to this Forty-Second
Supplemental Indenture that includes the information referred to in footnotes 2, 5 and 8 thereof, and that is deposited with or on behalf of and registered in the name of the Depository. 

ARTICLE 5 

Section 5.01 Limitation on Incurrences of Indebtedness and Issuance of Disqualified Stock. For purposes of 5.25%
Notes, Section 4.7 of the Indenture is hereby replaced and superseded by the following covenant and the following covenant shall apply to the 5.25% Notes: 
 (a) Except as set forth below, neither the Company, the Subsidiary Guarantors nor any Restricted Subsidiary will, directly or indirectly, Incur any Indebtedness (including Acquired Indebtedness) or issue
any Disqualified Stock. Notwithstanding the foregoing sentence, if, on the date of any such Incurrence or issuance, after giving effect to, on a pro forma basis, such Incurrence or issuance and the receipt and application of the proceeds therefrom:

 (1) the aggregate amount of all outstanding Indebtedness (other than the QUIPs Debt) and the Disqualified
Stock of the Company, the Subsidiary Guarantors and the Restricted Subsidiaries (including amounts of Refinancing Indebtedness outstanding pursuant to paragraph (d)(3) hereof or otherwise), determined

  
 15 

 
on a consolidated basis (it being understood that the amounts of Indebtedness and Disqualified Stock of Restricted Subsidiaries shall be consolidated with that of the Company only to the extent
of the Company’s proportionate interest in such Restricted Subsidiaries), without duplication, is less than or equal to 65% of the Adjusted Total Assets of the Company; and 

(2) the Consolidated Coverage Ratio of the Company would be greater than or equal to 2.0 to 1.0, the Company and its
Restricted Subsidiaries may Incur such Indebtedness or issue such Disqualified Stock. 
 (b) In addition to the foregoing
limitations set forth in (a) above, except as set forth below, the Company, the Subsidiary Guarantors and any Restricted Subsidiary will not Incur any Secured Indebtedness or Subsidiary Indebtedness. Notwithstanding the foregoing sentence, if,
immediately after giving effect to the Incurrence of such additional Secured Indebtedness and/or Subsidiary Indebtedness and the application of the proceeds thereof, the aggregate amount of all outstanding Secured Indebtedness and Subsidiary
Indebtedness of the Company, the Subsidiary Guarantors and any Restricted Subsidiary (including amounts of Refinancing Indebtedness outstanding pursuant to paragraph (d)(3) hereof or otherwise), determined on a consolidated basis (it being
understood that the amounts of Secured Indebtedness and Subsidiary Indebtedness of Restricted Subsidiaries shall be consolidated with that of the Company only to the extent of the Company’s proportionate interest in such Restricted
Subsidiaries), without duplication, is less than or equal to 45% of Adjusted Total Assets of the Company, the Company and its Restricted Subsidiaries may Incur such Secured Indebtedness and/or Subsidiary Indebtedness. 

(c) In addition to the limitations set forth in (a) and (b) above, the Company, the Subsidiary Guarantors and any Restricted
Subsidiary will maintain at all times Total Unencumbered Assets of not less than 125% of the aggregate outstanding amount of the Unsecured Indebtedness (other than the QUIPs Debt) (including amounts of Refinancing Indebtedness outstanding pursuant
to paragraph (d)(3) hereof or otherwise) determined on a consolidated basis (it being understood that the Unsecured Indebtedness of the Restricted Subsidiaries shall be consolidated with that of the Company only to the extent of the Company’s
proportionate interest in such Restricted Subsidiaries). 
 (d) Notwithstanding paragraphs (a) or (b), the Company, the
Subsidiary Guarantors and any Restricted Subsidiary (except as specified below) may Incur or issue each and all of the following: 
 (1) Indebtedness outstanding (including Indebtedness issued to replace, refinance or refund such Indebtedness) under the Credit Facility at any time in an aggregate principal amount not to exceed $1.5
billion, less any amount repaid subsequent to the Series Issue Date as provided under Section 5.04 of the Forty-Second Supplemental Indenture (including that, in the case of a revolver or similar arrangement, such commitment is permanently
reduced by such amount); 

  
 16 

 (2) Indebtedness or Disqualified Stock owed: 

(A) to the Company; or 
 (B) to any Subsidiary Guarantor; provided that any event which results in any Restricted Subsidiary holding such Indebtedness or Disqualified Stock ceasing to be a Restricted Subsidiary or any subsequent
transfer of such Indebtedness or Disqualified Stock (other than to the Company or a Subsidiary Guarantor) shall be deemed, in each case, to constitute an Incurrence of such Indebtedness or issuance of Disqualified Stock not permitted by this clause
(2); 
 (3) Refinancing Indebtedness with respect to outstanding Indebtedness (other than Indebtedness Incurred
under clause (1), (2), (4), (6), (8), (12) or (14) of this paragraph) and any refinancings thereof; 

(4) Indebtedness: 
 (A) in respect of performance, surety or appeal bonds Incurred in the ordinary course of business; 
 (B) under Currency Agreements and Interest Swap and Hedging Obligations; provided that such agreements: 
 (a) are designed solely to protect the Company, the Subsidiary Guarantors or any Restricted Subsidiary against fluctuations in foreign currency exchange rates or interest rates; and 

(b) do not increase the Indebtedness of the obligor outstanding, at any time other than as a result of fluctuations in
foreign currency exchange rates or interest rates or by reason of fees, indemnities and compensation payable thereunder; or 
 (C) arising from agreements providing for indemnification, adjustment of purchase price or similar obligations, or from Guarantees or letters of credit, surety bonds or performance bonds securing any
obligations of the Company, the Subsidiary Guarantors or any Restricted Subsidiary pursuant to such agreements, in any case Incurred in connection with the disposition of any business, assets or Restricted Subsidiary (other than Guarantees of
Indebtedness Incurred by any Person acquiring all or any portion of such business, assets or Restricted Subsidiary for the purpose of financing such acquisition), in an amount not to exceed the gross proceeds actually received by the Company, the
Subsidiary Guarantors and any Restricted Subsidiary on a consolidated basis in connection with such disposition; 

(5) Indebtedness of the Company, to the extent the net proceeds thereof are promptly: 

(A) used to purchase all of the notes tendered in a Change of Control Offer made as a result of a Change of Control; or

  
 17 

 (B) deposited to defease the notes as described under Sections 8.3 and 8.4
of the Indenture; 
 (6) Guarantees of the notes and Guarantees of Indebtedness of the Company or any of the
Subsidiary Guarantors by any Restricted Subsidiary; provided the guarantee of such Indebtedness is permitted by and made in accordance with the terms of the Indenture at the time of the incurrence of such underlying Indebtedness or at the
time such guarantor becomes a Restricted Subsidiary; 
 (7) Indebtedness evidenced by the Securities and the
Guarantees thereof and represented by the Indenture up to the amounts issued pursuant thereto as of the Issue Date; 
 (8) the QUIPs Debt; 
 (9) Limited Partner Notes; 

(10) Indebtedness Incurred pursuant to the Blackstone Acquisition and any Indebtedness of Host, its Subsidiaries, a Public
Partnership or a Private Partnership incurred in connection with the REIT Conversion; 
 (11) Acquired
Indebtedness assumed in connection with an Asset Acquisition if, on the date of any such Incurrence, the Consolidated Coverage Ratio of the Person or asset or assets so acquired would be greater than or equal to 2.0 to 1.0; provided however,
that an acquisition within the meaning of clause (ii) of the definition of “Asset Acquisition,” will be deemed to be an acquisition of a Person for purposes of determining such Consolidated Coverage Ratio; 

(12) Secured Indebtedness in an aggregate principal amount (or accreted value, if applicable) at any time outstanding, not
to exceed $400.0 million, provided, however, that (A) the Incurrence of such Secured Indebtedness is otherwise permitted pursuant to paragraph (b) above and (B) the proceeds of such Secured Indebtedness are used
substantially concurrently to repay and permanently reduce Indebtedness outstanding under the Credit Facility (including that, in the case of a revolver or similar arrangement, such commitment is permanently reduced by such amount); 

(13) Indebtedness Incurred by Foreign Subsidiaries in an aggregate principal amount (or accreted value, as applicable) at
any time outstanding, not to exceed $300 million; and 
 (14) additional Indebtedness in an aggregate principal
amount (or accreted value, if applicable) at any time outstanding, not to exceed $150.0 million. 

  
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 (e) For purposes of determining any particular amount of Indebtedness under this
Section 5.01 of this Forty-Second Supplemental Indenture: 
 (1) Indebtedness Incurred under the Credit
Facility on or prior to the Issue Date shall be treated as Incurred pursuant to clause (1) of subsection (d) of this Section 5.01 of this Forty-Second Supplemental Indenture; and 

(2) Guarantees, Liens or obligations with respect to letters of credit supporting Indebtedness otherwise included in the
determination of such particular amount shall not be included as additional Indebtedness. 
 (f) For purposes of determining
compliance with this Section 5.01: 
 (1) in the event that an item of Indebtedness (or any portion thereof)
meets the criteria of more than one of the types of Indebtedness described in the above clauses, the Company, in its sole discretion, shall classify such item of Indebtedness (or any portion thereof) at the time of incurrence and will only be
required to include the amount and type of such Indebtedness in one of the above clauses; 
 (2) the Company will
be entitled at the time of Incurrence to divide and classify an item of Indebtedness in more than one of the types of Indebtedness described above, and with respect to any Indebtedness Incurred pursuant to any specific clause under subsection
(d) of this Section 5.01 of this Forty-Second Supplemental Indenture, the Company may, after such Indebtedness is Incurred reclassify all or a portion of such Indebtedness under a different clause of subsection (d) of this Section
5.01; and 
 (3) Indebtedness under clauses (13) and (14) of subsection (d) of this
Section 5.01 of this Forty-Second Supplemental Indenture shall be reclassified automatically as having been incurred pursuant to subsection (a) of this Section 5.01 if at any date after such Indebtedness is Incurred, such Indebtedness
could have been Incurred under subsection (a) of this Section 5.01, but only to the extent such Indebtedness could have been so Incurred. 
 Indebtedness or Disqualified Stock of any Person that is not a Restricted Subsidiary of the Company, which Indebtedness or Disqualified Stock is outstanding at the time such Person becomes a Restricted
Subsidiary (including by designation) of the Company or is merged with or into or consolidated with the Company or one of its Restricted Subsidiaries, shall be deemed to have been Incurred or issued at the time such Person becomes a Restricted
Subsidiary of the Company or is merged with or into or consolidated with the Company, or one of its Restricted Subsidiaries, and Indebtedness or Disqualified Stock which is assumed at the time of the acquisition of any asset shall be deemed to have
been Incurred or issued at the time of such acquisition. 
 Notwithstanding any other provision of this Section 5.01, the
maximum amount of Indebtedness the Company and the Subsidiary Guarantors may Incur pursuant to this Section 5.01 shall not be deemed to be exceeded solely as a result of fluctuations in the exchange rate of currencies. 

  
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 Section 5.02 Limitation on Liens. For purposes of 5.25% Notes,
Section 4.8 of the Indenture is hereby replaced and superseded by the following covenant and the following covenant shall apply to the 5.25% Notes: 
 Neither the Company, the Subsidiary Guarantors, nor any Restricted Subsidiary shall secure any Indebtedness under the Credit Facility or the Existing Senior Notes by a Lien or suffer to exist any Lien on
their respective properties or assets securing Indebtedness under the Credit Facility or the Existing Senior Notes unless effective provision is made to secure the 5.25% Notes equally and ratably with the Lien securing such Indebtedness for so long
as Indebtedness under the Credit Facility or Existing Senior Notes is secured by such Lien. 
 Section 5.03 Limitation on
Restricted Payments. For purposes of 5.25% Notes, Section 4.15 of the Indenture is hereby replaced and superseded by the following covenant and the following covenant shall apply to the 5.25% Notes: 

(a) The Company and the Subsidiary Guarantors will not, and the Company and the Subsidiary Guarantors will not permit any Restricted
Subsidiary to, directly or indirectly, make a Restricted Payment if, at the time of, and after giving effect to, the proposed Restricted Payment: 
 (1) a Default or Event of Default shall have occurred and be continuing; 
 (2) the Company could not Incur at least $1.00 of Indebtedness under paragraph (a) of Section 5.01 of this Forty-Second Supplemental Indenture; or 

(3) the aggregate amount of all Restricted Payments (the amount, if other than in cash, the fair market value of any
property used therefor) made on and after the Issue Date shall exceed the sum of, without duplication: 
 (A) 95%
of the aggregate amount of the Funds From Operations (or, if the Funds From Operations is a loss, minus 100% of the amount of such loss) accrued on a cumulative basis during the period (taken as one accounting period) beginning on the first day of
the fiscal quarter in which the Issue Date occurs and ending on the last day of the last fiscal quarter preceding the Transaction Date; 
 (B) 100% of the aggregate Net Cash Proceeds received by the Company after the Issue Date from the issuance and sale permitted by the Indenture of its Capital Stock (other than Disqualified Stock) to a
Person who is not a Subsidiary of the Company including from an issuance to a Person who is not a Subsidiary of the Company of any options, warrants or other rights to acquire the Capital Stock of the Company (in each case, exclusive of any
Disqualified Stock or any options, warrants or other rights that are redeemable at the option of the holder, or are required to be redeemed, prior to the Stated Maturity of the Securities), and the amount of any Indebtedness (other than Indebtedness
subordinate in right of payment to the 5.25% Notes) of the Company that was issued and sold for cash upon the conversion of such Indebtedness after the Issue Date into Capital Stock (other than Disqualified Stock) of the Company, or otherwise
received as Capital Contributions; 

  
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 (C) an amount equal to the net reduction in Investments (other than
Permitted Investments) in any Person other than a Restricted Subsidiary after the Issue Date resulting from payments of interest on Indebtedness, dividends, repayments of loans or advances, or other transfers of assets, in each case to the Company
or any of its Restricted Subsidiaries or from the Net Cash Proceeds from the sale of any such Investment (except, in each case, to the extent any such payment or proceeds are included in the calculation of Funds From Operations) or from designations
of Unrestricted Subsidiaries or Non-Consolidated Entities as Restricted Subsidiaries (valued in each case as provided in the definition of “Investments”); 

(D) the fair market value of noncash tangible assets or Capital Stock (other than that of the Company or its Parent)
representing interests in Persons acquired after the Issue Date in exchange for an issuance of Qualified Capital Stock; and 
 (E) the fair market value of noncash tangible assets or Capital Stock (other than that of the Company or its Parent) representing interests in Persons contributed as a Capital Contribution to the Company
after the Issue Date. 
 Notwithstanding the foregoing, (i) for purposes of determining whether the Company, the Subsidiary Guarantors and
any Restricted Subsidiary may make a Restricted Payment representing the declaration or payment of any dividend or other distribution in respect of Capital Stock of such Person or the Parent or any Restricted Subsidiary of such Person constituting
Preferred Stock, the Consolidated Coverage Ratio of the Company contemplated by clause (2) of Section 5.01(a), shall be greater than or equal to 1.7 to 1 and (ii) the Company may make Permitted REIT Distributions. 

Section 5.04 Limitation on Asset Sales. For purposes of 5.25% Notes, Section 4.12 of the Indenture is hereby replaced
and superseded by the following covenant and the following covenant shall apply to the 5.25% Notes: 
 The Company and the
Subsidiary Guarantors will not, and the Company and the Subsidiary Guarantors will not permit any Restricted Subsidiary to, consummate any Asset Sale, unless: 
 (1) the consideration received by the Company, the Subsidiary Guarantor or such Restricted Subsidiary is at least equal to the fair market value of the assets sold or disposed of as determined by the
Board of the Company, in good faith; and 
 (2) at least 75% of the consideration received consists of cash, Cash
Equivalents and/or real estate assets; provided that, with respect to the sale of one or more real estate properties, up to 75% of the consideration may consist of indebtedness of the purchaser of such real estate properties so long as such
Indebtedness is secured by a 

  
 21 

 
first priority Lien on the real estate property or properties sold; and provided that, for purposes of this clause (2) the amount of: 

(A) any Indebtedness (other than Indebtedness subordinated in right of payment to the 5.25% Notes or a Subsidiary
Guarantee) that is required to be repaid or assumed (and is either repaid or assumed by the transferee of the related assets) by virtue of such Asset Sale and which is secured by a Lien on the property or assets sold; and 

(B) any securities or other obligations received by the Company, any Subsidiary Guarantor or any such Restricted
Subsidiary from such transferee that are immediately converted by the Company, the Subsidiary Guarantor or such Restricted Subsidiary into cash (or as to which the Company, any Subsidiary Guarantors or such Restricted Subsidiary has received at or
prior to the consummation of the Asset Sale a commitment (which may be subject to customary conditions) from a nationally recognized investment, merchant or commercial bank to convert into cash within 90 days of the consummation of such Asset Sale
and which are thereafter actually converted into cash within such 90-day period) will be deemed to be cash. 
 In the event that
the aggregate Net Cash Proceeds received by the Company, any Subsidiary Guarantors or such Restricted Subsidiaries from one or more Asset Sales occurring on or after the Closing Date in any period of 12 consecutive months (such 12 consecutive month
period, an “Asset Sale Period”) exceed 5% of Total Assets (determined as of the date closest to the commencement of such Asset Sale Period for which a consolidated balance sheet of the Company and its Restricted Subsidiaries has
been filed with the Commission or provided to the trustee pursuant to Section 4.2 of the Indenture), then during the period commencing 180 days prior to the commencement of such Asset Sale Period and running through the date that is 12 months
after the date Net Cash Proceeds so received exceeded 5% of Total Assets, an amount equal to the Net Cash Proceeds received during such Asset Sale Period must have been or must be: 

(1) invested in or committed to be invested in, pursuant to a binding commitment subject only to reasonable, customary
closing conditions, and providing an amount equal to the Net Cash Proceeds are, in fact, so invested, within an additional 180 days, (x) fixed assets and property (other than notes, bonds, obligations and securities) which in the good faith
reasonable judgment of the Board of the Company will immediately constitute or be part of a Related Business of the Company, Subsidiary Guarantor or such Restricted Subsidiary (if it continues to be a Restricted Subsidiary) immediately following
such transaction, (y) Permitted Mortgage Investments, or (z) a controlling interest in the Capital Stock of an entity engaged in a Related Business; provided that concurrently with an Investment specified in clause (z), such entity becomes
a Restricted Subsidiary; or 
 (2) used to repay and permanently reduce Indebtedness outstanding under the Credit
Facility (including that, in the case of a revolver or similar arrangement, such commitment is permanently reduced by such amount). 

  
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 Pending the application of any such Net Cash Proceeds as described above, the Company may invest such Net
Cash Proceeds in any manner that is not prohibited by the Indenture. Any Net Cash Proceeds from Asset Sales that are not or were not applied or invested as provided in the first sentence of this paragraph (including any Net Cash Proceeds which were
committed to be invested as provided in such sentence but which are not in fact invested within the time period provided) will be deemed to constitute “Excess Proceeds.” 

Within 30 days following each date on which the aggregate amount of Excess Proceeds exceeds $25 million, the Company will make an offer
to purchase from the Holders of the 5.25% Notes and holders of any other Indebtedness of the Company ranking pari passu with the Securities from time to time outstanding with similar provisions requiring the Company to make an offer to purchase or
redeem such Indebtedness with the proceeds from such Asset Sale, on a pro rata basis, an aggregate principal amount (or accreted value, as applicable) of Securities and such other Indebtedness equal to the Excess Proceeds on such date, at a purchase
price in cash equal to 100% of the principal amount (or accreted value, as applicable) of the Securities and such other Indebtedness, plus, in each case, accrued interest (if any) to the payment date. To the extent that the aggregate amount of
Securities and other senior Indebtedness tendered pursuant to an Asset Sale Offer is less than the Excess Proceeds, the Company may use any remaining Excess Proceeds for general corporate purposes. If the aggregate principal amount (or accreted
value, as applicable) of Securities and such other Indebtedness tendered pursuant to an Asset Sale Offer exceeds the amount of Excess Proceeds, the Securities to be purchased and such other Indebtedness shall be selected on a pro rata basis.
Upon completion of such Offer to Purchase, the amount of Excess Proceeds shall be reset at zero. 
 Notwithstanding, and without
complying with, any of the foregoing provisions: 
 (1) the Company, the Subsidiary Guarantors and any Restricted
Subsidiary may, in the ordinary course of business, convey, sell, lease, transfer, assign or otherwise dispose of inventory acquired and held for resale in the ordinary course of business; 

(2) the Company, the Subsidiary Guarantors and any Restricted Subsidiary may convey, sell, lease, transfer, assign or
otherwise dispose of assets pursuant to and in accordance with Article 5 and Section 4.13 of the Indenture; 

(3) the Company, the Subsidiary Guarantors and any Restricted Subsidiary may sell or dispose of damaged, worn out or other
obsolete property in the ordinary course of business so long as such property is no longer necessary for the proper conduct of the business of the Company, the Subsidiary Guarantor or such Restricted Subsidiary, as applicable; and 

(4) the Company, the Subsidiary Guarantors and any Restricted Subsidiary may exchange assets held by the Company, the
Subsidiary Guarantor or a Restricted Subsidiary for one or more real estate properties and/or one or more Related Businesses of any Person or entity owning one or more real estate properties and/or one or more Related Businesses; provided
that the Board of the Company has determined in good faith that the fair market value of the assets received by the Company are approximately equal to the fair market value of the assets exchanged by the Company. 

  
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 No transaction listed in clauses (1) through (4) inclusive shall be deemed to be
an “Asset Sale.” 
 Section 5.05 Events of Default. For purposes of 5.25% Notes,
Section 6.1(d) of the Indenture is hereby replaced and superseded by the following clause solely with respect to the 5.25% Notes: 
 “(d) a default in (a) Secured Indebtedness of the Company or the Secured Indebtedness of any of the Company’s Restricted Subsidiaries with an aggregate principal amount in excess of 5% of
Total Assets, or (b) other Indebtedness of the Company or other Indebtedness of any of its Restricted Subsidiaries with an aggregate principal amount in excess of $150 million, in either case, (A) resulting from the failure to pay
principal or interest when due (after giving effect to any applicable extensions or grace or cure periods) or (B) as a result of which the maturity of such Indebtedness has been accelerated prior to its final Stated Maturity;” 

Section 5.06 Limitation on Dividend and Other Payment Restrictions Affecting Subsidiary Guarantors. Solely with respect to
the 5.25% Notes, Section 4.10 of the Indenture is hereby (a) amended by striking the word “or” immediately before clause (viii) in the first sentence of the second paragraph thereof and (b) supplemented by inserting the
following additional clauses after clause (viii) in the first sentence of the second paragraph thereof: 
 (ix) imposed
under purchase money obligations for property acquired in the ordinary course of business and Capitalized Lease Obligations that impose restrictions on the property purchased or leased of the nature described in clause (iv) of the preceding
paragraph; (x) by reason of provisions limiting the disposition or distribution of assets or property in joint venture agreements, asset sale agreements, sale-leaseback agreements, stock sale agreements and other similar agreements (including
agreements entered into in connection with a Restricted Investment) entered into with the approval of the Board of the Company and not otherwise prohibited by this Indenture, which limitation is applicable only to the assets that are the subject of
such agreements and which do not detract from the value of the Company’s property or assets or the value of property or assets of any Restricted Subsidiary in any manner material to the Company and its Restricted Subsidiaries, taken as a whole;
or (xi) by reason of restrictions on cash or other deposits or net worth imposed by hotel managers or other customers under contracts entered into in the ordinary course of business. 

  
 24 

 Section 5.07 Limitation on Transactions with Affiliates. Solely with respect
to the 5.25% Notes, Section 4.11 of the Indenture is hereby (a) amended by striking the second sentence of the second paragraph thereof and (b) supplemented by inserting the following sentence after the first sentence of the second
paragraph thereof: 
 Notwithstanding the foregoing, prior to engaging in any Affiliate Transaction or series of related
Affiliate Transactions, other than Exempted Affiliate Transactions and any transaction or series of related transactions specified in any of clauses (ii) through (iv) of this paragraph, (a) with an aggregate value in excess of $25
million, the Company must deliver to the Trustee an Officer’s Certificate certifying that the transaction complies with the first paragraph of this Section 4.11; (b) with an aggregate value in excess of $50 million, must first be
approved pursuant to a Board Resolution set forth in an Officer’s Certificate certifying that the transaction complies with the first paragraph of this Section 4.11 and that the transaction has been approved by a majority of the Board of
the Company who are disinterested in the subject matter of the transaction; and (c) with an aggregate value in excess of $250 million, will require the Company to obtain a favorable written opinion from an independent financial advisor of
national reputation as to the fairness from a financial point of view of such transaction to the Company, such Subsidiary Guarantor or such Restricted Subsidiary, except that in the case of a real estate transaction or related real estate
transactions with an aggregate value in excess of $250 million, an opinion may instead be obtained from an independent, qualified real estate appraiser that the consideration received in connection with such transaction is fair to the Company, such
Subsidiary Guarantor or such Restricted Subsidiary. 
 ARTICLE 6 

Section 6.01 For purposes of the 5.25% Notes, Section 2.7 of the Indenture is hereby supplemented with, and where inconsistent
replaced by, the following provisions: 
 (a) Transfer and Exchange of Global Notes. A Global Note may not be
transferred as a whole except by the Depository to a nominee of the Depository, by a nominee of the Depository to the Depository or to another nominee of the Depository, or by the Depository or any such nominee to a successor Depository or a nominee
of such successor Depository. All Global Notes will be exchanged by the Company for Certificated Notes if: 
 (1)
the Company delivers to the Trustee notice from the Depository (A) that it is unwilling or unable to continue to act as Depository and a successor Depository is not appointed by the Company within 90 days after the date of such notice from the
Depository or (B) that it is no longer a clearing agency registered under the Exchange Act and a successor Depository is not appointed by the Company within 90 days after the date of such notice from the Depository; 

(2) the Company, at its option, notifies the Trustee in writing that it elects to cause the issuance of Certificated
Notes; or 
 (3) upon request of the Trustee or Holders of a majority of the principal amount of outstanding
5.25% Notes if there shall have occurred and be continuing a Default or Event of Default with respect to the 5.25% Notes. 
 Upon the occurrence of any of the preceding events in (1), (2) or (3) above, Certificated Notes shall be issued in such names as the Depository shall instruct the Trustee. Global Notes also may
be exchanged or replaced, in whole or in part, as provided in Sections 2.8 and 2.11 of the Indenture. A Global Note may not be exchanged 

  
 25 

 
for another 5.25% Note other than as provided in this Section 6.01(a), however, beneficial interests in a Global Note may be transferred and exchanged as provided in Section 6.01(b),
(c) or (f) hereof. 
 (b) Transfer and Exchange of Beneficial Interests in the Global Notes. The transfer and
exchange of beneficial interests in the Global Notes will be effected through the Depository, in accordance with the provisions of the Indenture and the Applicable Procedures. Beneficial interests in the Restricted Global Notes will be subject to
restrictions on transfer comparable to those set forth herein. Transfers of beneficial interests in the Global Notes also will require compliance with either subparagraph (1) or (2) below, as applicable, as well as one or more of the other
following subparagraphs, as applicable: 
 (1) Transfer of Beneficial Interests in the Same Global Note.
Beneficial interests in any Restricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Restricted Global Note in accordance with the transfer restrictions set forth in the Private
Placement Legend. Beneficial interests in any Unrestricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note. No written orders or instructions shall be required
to be delivered to the Registrar to effect the transfers described in this Section 6.01(b)(1). 
 (2) All
Other Transfers and Exchanges of Beneficial Interests in Global Notes. In connection with all transfers and exchanges of beneficial interests that are not subject to Section 6.01(b)(1) above, the transferor of such beneficial interest must
deliver to the Registrar either: (A)(1) a written order from a Participant or an Indirect Participant given to the Depository in accordance with the Applicable Procedures directing the Depository to credit or cause to be credited a beneficial
interest in another Global Note in an amount equal to the beneficial interest to be transferred or exchanged; and (2) instructions given in accordance with the Applicable Procedures containing information regarding the Participant account to be
credited with such increase; or (B)(1) a written order from a Participant or an Indirect Participant given to the Depository in accordance with the Applicable Procedures directing the Depository to cause to be issued a Certificated Note in an amount
equal to the beneficial interest to be transferred or exchanged; and (2) instructions given by the Depository to the Registrar containing information regarding the Person in whose name such Certificated Note shall be registered to effect the
transfer or exchange referred to in (B)(1) above; 
 Upon consummation of an Exchange Offer by the Company in accordance with
Section 6.01(f) hereof, the requirements of this Section 6.01(b)(2) shall be deemed to have been satisfied upon receipt by the Registrar of the instructions contained in the Letter of Transmittal delivered by the Holder of such beneficial
interests in the Restricted Global Notes. Upon satisfaction of all of the requirements for transfer or exchange of beneficial interests in Global Notes contained in the Indenture and the 5.25% Notes or otherwise applicable under the Securities Act,
the Trustee shall adjust the principal amount of the relevant Global Note(s) pursuant to Section 6.01(h) hereof. 
 (3) Transfer of Beneficial Interests to Another Restricted Global Note. A beneficial interest in any Restricted Global Note may be transferred to a Person

  
 26 

 
who takes delivery thereof in the form of a beneficial interest in another Restricted Global Note if the transfer complies with the requirements of Section 6.01(b)(2) above and the Registrar
receives the following: 
 (A) if the transferee will take delivery in the form of a beneficial interest in the
144A Global Note, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (1) thereof; and 
 (B) if the transferee will take delivery in the form of a beneficial interest in the Regulation S Global Note, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the
certifications in item (2) thereof. 
 (4) Transfer and Exchange of Beneficial Interests in a Restricted
Global Note for Beneficial Interests in an Unrestricted Global Note. A beneficial interest in any Restricted Global Note may be exchanged by any holder thereof for a beneficial interest in an Unrestricted Global Note or transferred to a Person
who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note if the exchange or transfer complies with the requirements of Section 6.01(b)(2) above and: 

(A) such exchange or transfer is effected pursuant to the Exchange Offer in accordance with the Registration Rights
Agreement and Section 6.01(f) of this Forty-Second Supplemental Indenture, and the holder of the beneficial interest to be transferred, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter
of Transmittal that it is not (i) a Broker-Dealer, (ii) a Person participating in the distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Company or the Subsidiary Guarantors;

 (B) such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration
Rights Agreement; 
 (C) such transfer is effected by a Broker-Dealer pursuant to the Exchange Offer Registration
Statement in accordance with the Registration Rights Agreement; or 
 (D) the Registrar receives the following:

 (1) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial
interest for a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (1)(a) thereof; or 

(2) if the holder of such beneficial interest in a Restricted Global Note proposes to transfer such beneficial interest to
a Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note, a certificate 

  
 27 

 
from such holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 
 and, in each such case set forth in this subparagraph (D), if the Registrar so requests or if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the Registrar to
the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities
Act. 
 If any such transfer is effected pursuant to subparagraph (B) or (D) above at a time when an Unrestricted Global Note has not
yet been issued, the Company shall issue and, upon receipt of an Authentication Order in accordance with Section 2.3 of the Indenture, the Trustee shall authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal
to the aggregate principal amount of beneficial interests transferred pursuant to subparagraph (B) or (D) above. 
 Beneficial
interests in an Unrestricted Global Note cannot be exchanged for, or transferred to Persons who take delivery thereof in the form of, a beneficial interest in a Restricted Global Note. 

(c) Transfer or Exchange of Beneficial Interests for Certificated Notes. 

(1) Beneficial Interests in Restricted Global Notes to Restricted Certificated Notes. If any holder of a beneficial interest in a
Restricted Global Note proposes to exchange such beneficial interest for a Restricted Certificated Note or to transfer such beneficial interest to a Person who takes delivery thereof in the form of a Restricted Certificated Note, then, if the
exchange or transfer complies with the requirements of Section 6.01(a) of this Forty-Second Supplemental Indenture, upon receipt by the Registrar of the following documentation: 

(A) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest
for a Restricted Certificated Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (2)(a) thereof; 
 (B) if such beneficial interest is being transferred to a QIB in accordance with Rule 144A, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item
(1) thereof; 
 (C) if such beneficial interest is being transferred to a Non-U.S. Person in an offshore
transaction in accordance with Rule 903 or Rule 904, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (2) thereof; 

(D) if such beneficial interest is being transferred pursuant to an exemption from the registration requirements of the
Securities Act in accordance with Rule 144, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(a) thereof; 

  
 28 

 (E) if such beneficial interest is being transferred to an Institutional
Accredited Investor in reliance on an exemption from the registration requirements of the Securities Act other than those listed in subparagraphs (B) through (D) above, a certificate to the effect set forth in Exhibit B hereto, including
the certifications, certificates and Opinion of Counsel required by item (3)(d) thereof, if applicable; 

(F) if such beneficial interest is being transferred to the Company or any of its Subsidiaries, a certificate to the
effect set forth in Exhibit B hereto, including the certifications in item (3)(b) thereof; or 
 (G) if such
beneficial interest is being transferred pursuant to an effective registration statement under the Securities Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(c) thereof, 

the Trustee shall cause the aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant to Section 6.01(h) hereof,
and the Company shall execute and the Trustee shall authenticate and deliver to the Person designated in the instructions a Certificated Note in the appropriate principal amount. Any Certificated Note issued in exchange for a beneficial interest in
a Restricted Global Note pursuant to this Section 6.01(c) shall be registered in such name or names and in such authorized denomination or denominations as the holder of such beneficial interest shall instruct the Registrar through instructions
from the Depository and the Participant or Indirect Participant. The Trustee shall deliver such Certificated Notes to the Persons in whose names such Notes are so registered. Any Certificated Note issued in exchange for a beneficial interest in a
Restricted Global Note pursuant to this Section 6.01(c)(1) shall bear the Private Placement Legend and shall be subject to all restrictions on transfer contained therein. 
 (2) Beneficial Interests in Restricted Global Notes to Unrestricted Certificated Notes. A holder of a beneficial interest in a Restricted Global Note may exchange such beneficial interest for an
Unrestricted Certificated Note or may transfer such beneficial interest to a Person who takes delivery thereof in the form of an Unrestricted Certificated Note only if the exchange or transfer complies with the requirements of Section 6.01(a)
of this Forty-Second Supplemental Indenture and: 
 (A) such exchange or transfer is effected pursuant to the
Exchange Offer in accordance with the Registration Rights Agreement and Section 6.01(f) of this Forty-Second Supplemental Indenture, and the holder of such beneficial interest, in the case of an exchange, or the transferee, in the case of a
transfer, certifies in the applicable Letter of Transmittal that it is not (i) a Broker-Dealer, (ii) a Person participating in the distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of
the Company or the Subsidiary Guarantors; 
 (B) such transfer is effected pursuant to the Shelf Registration
Statement in accordance with the Registration Rights Agreement; 

  
 29 

 (C) such transfer is effected by a Broker-Dealer pursuant to the Exchange
Offer Registration Statement in accordance with the Registration Rights Agreement; or 
 (D) the Registrar
receives the following: 
 (1) if the holder of such beneficial interest in a Restricted Global Note proposes to
exchange such beneficial interest for an Unrestricted Certificated Note, a certificate from such holder in the form of Exhibit C hereto, including the certifications in item (1)(b) thereof; or 

(2) if the holder of such beneficial interest in a Restricted Global Note proposes to transfer such beneficial interest to
a Person who shall take delivery thereof in the form of an Unrestricted Certificated Note, a certificate from such holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 

and, in each such case set forth in this subparagraph (D), if the Registrar so requests or if the Applicable Procedures so require, an Opinion of Counsel
in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in
order to maintain compliance with the Securities Act. 
 (3) Beneficial Interests in Unrestricted Global Notes to Unrestricted
Certificated Notes. If any holder of a beneficial interest in an Unrestricted Global Note proposes to exchange such beneficial interest for an Unrestricted Certificated Note or to transfer such beneficial interest to a Person who takes delivery
thereof in the form of an Unrestricted Certificated Note, then, if the exchange or transfer complies with the requirements of Section 6.01(a) of this Forty-Second Supplemental Indenture and upon satisfaction of the conditions set forth in
Section 6.01(b)(2) of this Forty-Second Supplemental Indenture, the Trustee shall cause the aggregate principal amount of the applicable Unrestricted Global Note to be reduced accordingly pursuant to Section 6.01(h) hereof, and the Company
shall execute and, upon receipt of a Company Order pursuant to Section 2.3 of the Indenture, the Trustee shall authenticate and deliver to the Person designated in the instructions an Unrestricted Certificated Note in the appropriate principal
amount. Any Unrestricted Certificated Note issued in exchange for a beneficial interest pursuant to this Section 6.01(c)(3) shall be registered in such name or names and in such authorized denomination or denominations as the holder of such
beneficial interest requests through instructions to the Registrar from or through the Depository and the Participant or Indirect Participant. The Trustee shall deliver such Unrestricted Certificated Notes to the Persons in whose names such 5.25%
Notes are so registered. Any Unrestricted Certificated Note issued in exchange for a beneficial interest pursuant to this Section 6.01(c)(3) shall not bear the Private Placement Legend. 

(d) Transfer and Exchange of Certificated Notes for Beneficial Interests. 

  
 30 

 (1) Restricted Certificated Notes or Unrestricted Certificated Notes to Beneficial
Interests in Restricted Global Notes. If any Holder of a Restricted Certificated Note or Unrestricted Certificated Note proposes to exchange a Restricted Certificated Note or Unrestricted Certificated Note, as applicable, for a beneficial
interest in a Restricted Certificated Note or Unrestricted Global Note other than a Regulation S Restricted Global Note, as applicable, or to transfer such Restricted Certificated Notes to a Person who takes delivery thereof in the form of a
beneficial interest in a Restricted Global Note, then, upon receipt by the Registrar of the following documentation: 
 (A) if the Holder of such Restricted Certificated Note or Unrestricted Certificated Note proposes to exchange such Restricted Certificated Note or Unrestricted Certificated Note, as applicable, for a
beneficial interest in a Restricted Global Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (2)(b) thereof; 

(B) if such Restricted Certificated Note or Unrestricted Certificated Notes is being transferred to a QIB in accordance
with Rule 144A, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (1) thereof; 
 (C) if such Restricted Certificated Note or Unrestricted Certificated Notes is being transferred to a Non-U.S. Person in an offshore transaction in accordance with Rule 903 or Rule 904, a certificate to
the effect set forth in Exhibit B hereto, including the certifications in item (2) thereof; 
 (D) if such
Restricted Certificated Note or Unrestricted Certificated Note is being transferred pursuant to an exemption from the registration requirements of the Securities Act in accordance with Rule 144, a certificate to the effect set forth in Exhibit B
hereto, including the certifications in item (3)(a) thereof; 
 (E) if such Restricted Certificated Note or
Unrestricted Certificated Notes is being transferred to an Institutional Accredited Investor in reliance on an exemption from the registration requirements of the Securities Act other than those listed in subparagraphs (B) through
(D) above, a certificate to the effect set forth in Exhibit B hereto, including the certifications, certificates and Opinion of Counsel required by item (3)(d) thereof, if applicable; 

(F) if such Restricted Certificated Note or Unrestricted Certificated Notes is being transferred to the Company or any of
its Subsidiaries, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(b) thereof; or 
 (G) if such Restricted Certificated Note or Unrestricted Certificated Notes is being transferred pursuant to an effective 

  
 31 

 
registration statement under the Securities Act, a certificate to the effect set forth in Exhibit B hereto, including the certifications in item (3)(c) thereof, 

the Trustee shall cancel the Restricted Certificated Note or Unrestricted Certificated Notes, increase or cause to be increased the aggregate principal
amount of, in the case of clause (A) above, the appropriate Restricted Global Note and in the case of clause (B) above, the 144A Global Note, in the case of clause (C) above, the Regulation S Global Note. 

(2) Restricted Certificated Notes to Beneficial Interests in Unrestricted Global Notes. A Holder of a Restricted Certificated Note
may exchange such Restricted Certificated Note for a beneficial interest in an Unrestricted Global Note or transfer such Restricted Certificated Note to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted
Global Note only if: 
 (A) such exchange or transfer is effected pursuant to the Exchange Offer in accordance
with the Registration Rights Agreement and Section 6.01(f) of this Forty-Second Supplemental Indenture, and the Holder, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of Transmittal
that it is not (i) a Broker-Dealer, (ii) a Person participating in the distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Company or the Subsidiary Guarantors; 

(B) such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights
Agreement; 
 (C) such transfer is effected by a Broker-Dealer pursuant to the Exchange Offer Registration
Statement in accordance with the Registration Rights Agreement; or 
 (D) the Registrar receives the following:

 (1) if the Holder of such Restricted Certificated Notes proposes to exchange such Restricted Certificated Note
for a beneficial interest in the Unrestricted Global Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(c) thereof; or 

(2) if the Holder of such Restricted Certificated Notes proposes to transfer such Notes to a Person who shall take
delivery thereof in the form of a beneficial interest in the Unrestricted Global Note, a certificate from such Holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 

and, in each such case set forth in this subparagraph (D), if the Registrar so requests or if the Applicable Procedures so require, an Opinion of Counsel
in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in
order to maintain compliance with the Securities Act. 

  
 32 

 Upon satisfaction of the conditions of any of the subparagraphs in this Section 6.01(d)(2), the Trustee
shall cancel the Restricted Certificated Notes so transferred or exchanged and increase or cause to be increased the aggregate principal amount of the appropriate Unrestricted Global Note. 

(3) Unrestricted Certificated Notes to Beneficial Interests in Unrestricted Global Notes. A Holder of an Unrestricted Certificated
Note may exchange such Unrestricted Certificated Note for a beneficial interest in an Unrestricted Global Note or transfer such Certificated Notes to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global
Note at any time. Upon receipt of a request for such an exchange or registration of transfer, the Trustee shall cancel the applicable Unrestricted Certificated Note and increase or cause to be increased the aggregate principal amount of one of the
Unrestricted Global Notes. 
 If any such exchange or registration of transfer from a Certificated Note to a beneficial interest is effected
pursuant to subparagraphs (2)(B), (2)(D) or (3) above at a time when an Unrestricted Global Note has not yet been issued, the Company shall issue and, upon receipt of a Company Order in accordance with Section 2.3 of the Indenture,
the Trustee shall authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the principal amount of Certificated Notes so transferred. 
 (e) Transfer and Exchange of Certificated Notes for Certificated Notes. Upon request by a Holder of Certificated Notes and such Holder’s compliance with the provisions of this
Section 6.01(e), the Registrar shall register the transfer or exchange of Certificated Notes. Prior to such registration of transfer or exchange, the requesting Holder must present or surrender to the Registrar the Certificated Notes duly
endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar duly executed by such Holder or by its attorney, duly authorized in writing. In addition, the requesting Holder shall provide any additional
certifications, documents and information, as applicable, required pursuant to the following provisions of this Section 6.01(e). 
 (1) Restricted Certificated Notes to Restricted Certificated Notes. Any Restricted Certificated Note may be transferred to and registered in the name of Persons who take delivery thereof in the
form of a Restricted Certificated Note if the Registrar receives the following: 
 (A) if the transfer will be
made pursuant to Rule 144A, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the certifications in item (1) thereof; 

(B) if the transfer will be made pursuant to Rule 903 or Rule 904, then the transferor must deliver a certificate in the
form of Exhibit B hereto, including the certifications in item (2) thereof; and 
 (C) if the transfer will
be made pursuant to any other exemption from the registration requirements of the Securities Act, then the transferor must deliver a certificate in the form of Exhibit B hereto, including the 

  
 33 

 
certifications, certificates and Opinion of Counsel required by item (3) thereof, if applicable. 
 (2) Restricted Certificated Notes to Unrestricted Certificated Notes. Any Restricted Certificated Note may be exchanged by the Holder thereof for an Unrestricted Certificated Note or transferred to
a Person or Persons who take delivery thereof in the form of an Unrestricted Certificated Note if: 
 (A) such
exchange or transfer is effected pursuant to the Exchange Offer in accordance with the Registration Rights Agreement and the Holder, in the case of an exchange, or the transferee, in the case of a transfer, certifies in the applicable Letter of
Transmittal that it is not (i) a Broker-Dealer, (ii) a Person participating in the distribution of the Exchange Notes or (iii) a Person who is an affiliate (as defined in Rule 144) of the Company; 

(B) any such transfer is effected pursuant to the Shelf Registration Statement in accordance with the Registration Rights
Agreement; 
 (C) any such transfer is effected by a Broker-Dealer pursuant to the Exchange Offer Registration
Statement in accordance with the Registration Rights Agreement; or 
 (D) the Registrar receives the following:

 (1) if the Holder of such Restricted Certificated Notes proposes to exchange such Restricted Certificated
Notes for an Unrestricted Certificated Note, a certificate from such Holder in the form of Exhibit C hereto, including the certifications in item (1)(d) thereof; or 

(2) if the Holder of such Restricted Certificated Notes proposes to transfer such Restricted Certificated Notes to a
Person who shall take delivery thereof in the form of an Unrestricted Certificated Note, a certificate from such Holder in the form of Exhibit B hereto, including the certifications in item (4) thereof; 

and, in each such case set forth in this subparagraph (D), if the Registrar so requests, an Opinion of Counsel in form reasonably acceptable to the
Registrar and the Company to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain
compliance with the Securities Act. 
 (3) Unrestricted Certificated Notes to Unrestricted Certificated Notes. A Holder of
Unrestricted Certificated Notes may transfer such Unrestricted Certificated Notes to a Person who takes delivery thereof in the form of an Unrestricted Certificated Note. Upon receipt of a request to register such a transfer, the Registrar shall
register the Unrestricted Certificated Notes pursuant to the instructions from the Holder thereof. 

  
 34 

 (f) Exchange Offer. Upon the occurrence of the Exchange Offer in accordance with the
Registration Rights Agreement, the Company shall issue and, upon receipt of a Company Order in accordance with Section 2.3 of the Indenture and an Opinion of Counsel for the Company as to certain matters discussed in this Section 6.01(f),
the Trustee shall authenticate (i) one or more Unrestricted Global Notes in an aggregate principal amount equal to the sum of (A) the principal amount of the beneficial interests in the Restricted Global Notes tendered for acceptance by
Persons who certify in the applicable Letters of Transmittal that (x) they are not Broker-Dealers, (y) they are not participating in a distribution of the Exchange Notes and (z) they are not affiliates (as defined in Rule 144) of the
Company, and accepted for exchange in the Exchange Offer and (B) the principal amount of Certificated Notes exchanged or transferred for beneficial interests in Unrestricted Global Notes in connection with the Exchange Offer pursuant to
Section 6.01(d)(2) and (ii) Certificated Notes in an aggregate principal amount equal to the principal amount of the Restricted Certificated Notes accepted for exchange in the Exchange Offer (other than Certificated Notes described in
clause (i)(B) immediately above). Concurrently with the issuance of such Exchange Notes, the Trustee shall cause the aggregate principal amount of the applicable Restricted Global Notes to be reduced accordingly, and the Company shall execute and,
upon receipt of a Company Order pursuant to Section 2.3 of the Indenture, the Trustee shall authenticate and deliver to the Persons designated by the Holders of Certificated Notes so accepted Certificated Notes in the appropriate principal
amount. 
 The Opinion of Counsel for the Company referenced above shall state that: 

(1) the Exchange Notes have been duly authorized and, when executed and authenticated in accordance with the provisions of the Indenture
delivered in exchange for Series A Notes in accordance with the Indenture and the Exchange Offer, will be entitled to the benefits of the Indenture and will be valid and binding obligations of the Company, enforceable in accordance with their terms
except as (x) the enforceability thereof may be limited by bankruptcy, insolvency or similar laws affecting creditors’ rights generally, (y) rights of acceleration and the availability of equitable remedies may be limited by equitable
principles of general applicability and (z) other customary limitations and exceptions for opinions of such type; and (2) when the Exchange Notes are executed and authenticated in accordance with the provisions of the Indenture and
delivered in exchange for Series A Notes in accordance with the Indenture and the Exchange Offer, the Guarantee of the Exchange Notes by the Subsidiary Guarantors will be entitled to the benefits of the Indenture and will be valid and binding
obligations of the Subsidiary Guarantors, enforceable in accordance with their terms except as (x) the enforceability thereof may be limited by bankruptcy, insolvency or similar laws affecting creditors’ rights generally, (y) rights
of acceleration and the availability of equitable remedies may be limited by equitable principles of general applicability and (z) other customary limitations and exceptions for opinions of this type; provided, however, that the opinion
described in subsection (2) above shall not be required in the event that no Subsidiary Guarantors exist as of the date of such Opinion of Counsel. 

  
 35 

 (g) Legends. The following legends shall appear on the face of all Global Notes and
Certificated Notes issued under the Indenture unless specifically stated otherwise in the applicable provisions of the Indenture. 
 (1) Private Placement Legend. 
 (A) Except as permitted by
subparagraph (B) below, each Global Note and each Certificated Note (and all Notes issued in exchange therefor or substitution thereof) shall bear the legend in substantially the following form: 

“THIS NOTE (OR ITS PREDECESSOR) HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND,
ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED, EXCEPT AS SET FORTH BELOW. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE HOLDER: 
 (1) AGREES THAT IT WILL NOT RESELL OR OTHERWISE TRANSFER THIS NOTE EXCEPT (A) TO HOST HOTELS & RESORTS, L.P. (“HOST L.P.”) OR ANY OF ITS WHOLLY OWNED SUBSIDIARIES, (B) TO A
PERSON WHO IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) (A “QIB”) PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QIB IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A,
(C) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (D) OUTSIDE THE UNITED STATES IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 904 UNDER THE SECURITIES ACT, (E) TO AN INSTITUTIONAL
“ACCREDITED INVESTOR” (AS DEFINED IN RULE 501 (A)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT) THAT, PRIOR TO SUCH TRANSFER, FURNISHES THE TRUSTEE A SIGNED LETTER CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS
RELATING TO THE TRANSFER OF THIS NOTE (THE FORM OF WHICH CAN BE OBTAINED FROM THE TRUSTEE) AND, IF SUCH TRANSFER IS IN RESPECT OF AN AGGREGATE PRINCIPAL AMOUNT OF NOTES LESS THAN $250,000, AN OPINION OF COUNSEL REASONABLY ACCEPTABLE TO HOST L.P.
THAT SUCH TRANSFER IS EXEMPT UNDER THE SECURITIES ACT, (F) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL REASONABLY ACCEPTABLE TO HOST L.P.), OR
(G) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH CASE, IN ACCORDANCE WITH THE APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION; AND 

  
 36 

 (2) AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM THIS NOTE OR AN INTEREST HEREIN IS
TRANSFERRED A NOTICE AS TO THE ABOVE RESTRICTIONS.” 
 (B) Notwithstanding the foregoing, any Global Note or
Certificated Note issued pursuant to subparagraphs (b)(4), (c)(2), (c)(3), (d)(2), (d)(3), (e)(2), (e)(3) or (f) to this Section 6.01 (and all 5.25% Notes issued in exchange therefor or substitution thereof) shall not bear the Private
Placement Legend. 
 (2) Global Note Legend. To the extent required by the Depository, each Global Note
shall bear a legend in substantially the following form: 
 “THIS GLOBAL NOTE IS HELD BY THE DEPOSITORY (AS DEFINED IN THE INDENTURE
GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT
TO SECTION 6.01 OF THE FORTY-SECOND SUPPLEMENTAL INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 6.01 OF THE FORTY-SECOND SUPPLEMENTAL INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE
TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.12 OF THE INDENTURE AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITORY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN CERTIFICATED FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY A NOMINEE OF
THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY OR BY THE DEPOSITORY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITORY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITORY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE
OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR
SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.” 
 (h) Cancellation and/or Adjustment of Global Notes. At such time as all beneficial interests in a particular Global Note have been exchanged for Certificated Notes or a particular Global Note has
been redeemed, repurchased or canceled in whole and not in part, 

  
 37 

 
each such Global Note shall be returned to or retained and canceled by the Trustee in accordance with Section 2.12 of the Indenture. At any time prior to such cancellation, if any beneficial
interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note or for Certificated Notes, the principal amount of 5.25% Notes represented by such
Global Note shall be reduced accordingly and an endorsement shall be made on such Global Note by the Trustee or by the Depository at the direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or
transferred to a Person who shall take delivery thereof in the form of a beneficial interest in another Global Note, such other Global Note shall be increased accordingly and an endorsement shall be made on such Global Note by the Trustee or by the
Depository at the direction of the Trustee to reflect such increase. 
 (i) General Provisions Relating to Transfers and
Exchanges. 
 (1) To permit registrations of transfers and exchanges, the Company shall execute and the Trustee shall
authenticate Global Notes and Certificated Notes upon receipt of a Company Order. 
 (2) No service charge shall be made to a
Holder of a beneficial interest in a Global Note or to a Holder of a Certificated Note for any registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any transfer tax or similar governmental charge
payable in connection therewith (other than any such transfer taxes or similar governmental charge payable upon exchange or transfer pursuant to Sections 2.11, 3.6, 4.12, and 10.1 of the Indenture). 

(3) The Registrar shall not be required to register the transfer of or exchange of any 5.25% Note selected for redemption in whole or in
part, except the unredeemed portion of any 5.25% Note being redeemed in part. 
 (4) All Global Notes and Certificated Notes
issued upon any registration of transfer or exchange of Global Notes or Certificated Notes shall be the valid obligations of the Company, evidencing the same debt, and entitled to the same benefits under the Indenture, as the Global Notes or
Certificated Notes surrendered upon such registration of transfer or exchange. 
 (5) Neither the Registrar nor the Company will
be required: 
 (A) to issue, to register the transfer of or to exchange any 5.25% Notes during a period
beginning at the opening of business 15 days before the day of any selection of 5.25% Notes for redemption and ending at the close of business on the day of selection; 

(B) to register the transfer of or to exchange any 5.25% Note selected for redemption in whole or in part, except the
unredeemed portion of any 5.25% Note being redeemed in part; or 

  
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 (C) to register the transfer of or to exchange a 5.25% Note between a record
date and the next succeeding interest payment date. 
 (6) Prior to due presentment for the registration of a transfer of any
5.25% Note, the Trustee, any Agent and the Company may deem and treat the Person in whose name any 5.25% Note is registered as the absolute owner of such 5.25% Note for the purpose of receiving payment of principal of and interest on such 5.25%
Notes and for all other purposes, and none of the Trustee, any Agent or the Company shall be affected by notice to the contrary. 

(7) The Trustee shall authenticate Global Notes and Certificated Notes in accordance with the provisions of Section 2.3 of the
Indenture. 
 (8) All certifications, certificates and Opinions of Counsel required to be submitted to the Registrar pursuant to
this Section 6.01 to effect a registration of transfer or exchange may be submitted by facsimile. 
 Notwithstanding
anything herein to the contrary, as to any certifications and certificates delivered to the Registrar pursuant to this Section 6.01 of this Forty-Second Supplemental Indenture, the Registrar’s duties shall be limited to confirming that any
such certifications and certificates delivered to it are substantially in the form of Exhibits A, B, C and D attached to this Forty-Second Supplemental Indenture. The Registrar shall not be responsible for confirming the truth or accuracy of
representations made in any such certifications or certificates. 
 ARTICLE 7 

Section 7.01 Except as specifically modified herein, the Indenture is in all respects ratified and confirmed and shall remain in full
force and effect in accordance with its terms. 
 Section 7.02 Except as otherwise expressly provided herein, no duties,
responsibilities or liabilities are assumed or shall be construed to be assumed by the Trustee by reason of this Forty-Second Supplemental Indenture. This Forty-Second Supplemental Indenture is executed and accepted by the Trustee subject to all the
terms and conditions set forth in the Indenture with the same force and effect as if those terms and conditions were repeated at length herein and made applicable to the Trustee with respect to this Forty-Second Supplemental Indenture. 

Section 7.03 The Trustee shall not be responsible in any manner whatsoever for or in respect of the recitals contained herein, all of
which recitals are made solely by the Company. The Trustee makes no representations as to the validity or sufficiency of this Forty-Second Supplemental Indenture. 
 Section 7.04 THIS FORTY-SECOND SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK INCLUDING, WITHOUT LIMITATION, SECTIONS 5 1401 AND 5 1402 OF
THE NEW YORK GENERAL OBLIGATIONS LAW AND NEW YORK 

  
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CIVIL PRACTICE LAWS AND RULES 327(b). EACH OF THE COMPANY AND THE SUBSIDIARY GUARANTORS HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF ANY NEW YORK STATE COURT SITTING IN THE BOROUGH OF
MANHATTAN IN THE CITY OF NEW YORK OR ANY FEDERAL COURT SITTING IN THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THE INDENTURE AND THE SECURITIES, AND IRREVOCABLY ACCEPTS
FOR ITSELF AND IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, JURISDICTION OF THE AFORESAID COURTS. EACH OF THE COMPANY AND THE SUBSIDIARY GUARANTORS IRREVOCABLY WAIVES, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO UNDER APPLICABLE
LAW, ANY OBJECTION WHICH THEY MAY NOW OR HEREAFTER HAVE TO THE LAYING OF THE VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT AND ANY CLAIM THAT ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN
AN INCONVENIENT FORUM. NOTHING HEREIN SHALL AFFECT THE RIGHT OF THE TRUSTEE OR ANY SECURITY HOLDER TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST THE COMPANY AND THE SUBSIDIARY
GUARANTORS IN ANY OTHER JURISDICTION. 
 Section 7.05 The parties may sign any number of copies of this Forty-Second
Supplemental Indenture. Each signed copy shall be an original, but all of such executed copies together shall represent the same agreement. 
 Section 7.06 All capitalized terms used in this Forty-Second Supplemental Indenture which are not otherwise defined herein, shall have the respective meanings specified in the Indenture, unless the
context otherwise requires. 
 Section 7.07 The 5.25% Notes may be issued in whole or in part in the form of one or more Global
Securities, registered in the name of Cede & Co., as nominee of The Depository Trust Company (“DTC”). 

  
 40 

 IN WITNESS WHEREOF, the parties to this Forty-Second Supplemental Indenture have caused this
Forty-Second Supplemental Indenture to be duly executed, all as of the date first written above. 
  

					
	 COMPANY

	
	HOST HOTELS & RESORTS, L.P., a Delaware limited partnership
		
	BY:	 	 HOST HOTELS & RESORTS, INC.,
 its general partner

		
	By:	 	            /s/ Larry K.
Harvey

		 	Name:	 	Larry K. Harvey
		 	Title:	 	Executive Vice President,
		 		 	Chief Financial Officer

 [Signature Page to Forty-Second Supplemental Indenture] 

 
					
	 TRUSTEE

	
	 THE BANK OF NEW YORK MELLON,

as Trustee

		
	By:	 	            /s/ Natalie
Lawrence

		 	Name:	 	Natalie Lawrence
		 	Title:	 	Agent

 [Signature Page to Forty-Second Supplemental Indenture] 

 EXHIBIT A 

FORM OF 5.25% [SERIES A][/SERIES B]1 SENIOR NOTE 
 Unless and until it is exchanged in whole or in part for 5.25% Notes in definitive form, this Security may not be transferred except as a whole by the Depository to a nominee of the Depository or by a
nominee of the Depository to the Depository or another nominee of the Depository or by the Depository or any such nominee to a successor Depository or a nominee of such successor Depository. Unless this certificate is presented by an authorized
representative of The Depository Trust Company (55 Water Street, New York, New York) (“DTC”), to the Company or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of
Cede & Co. or such other name as requested by an authorized representative of DTC (and any payment is made to Cede & Co. or such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein.2 
 HOST HOTELS & RESORTS, L.P. 
 5.25% [SERIES
A][/SERIES B]3 SENIOR NOTE DUE 2022 

CUSIP: 
 ISIN: 

No.                        
                                         
                                         
                       $ 
 Host Hotels & Resorts, L.P., a Delaware limited partnership (hereinafter called the “Company,” which term includes any successors under the Indenture hereinafter referred to), for
value received, hereby promises to pay to             , or registered assigns, the principal sum of $            , on
March 15, 2022. The Security is one of the 5.25% [Series A][/Series B] Senior Notes due 2022 referred to in such Indenture (hereinafter referred to for purposes of this 5.25% Senior Note collectively as the “5.25% Securities”).

  

			
	Interest Payment Dates:	 	    March 15 and September 15
		
	Record Dates:	 	    March 1 and September 1

  

	1 	 Series A should be replaced with Series B in the Exchange Notes. 

	2 	 To be used only if the Security is issued as a Global Note. 

	3 	 Series A should be replaced with Series B in the Exchange Notes. 

  
 A-1

 Reference is made to the further provisions of this Security on the reverse side, which
will, for all purposes, have the same effect as if set forth at this place. 
 IN WITNESS WHEREOF, the Company has caused
this Instrument to be duly executed. 
 Dated: 

 

			
	HOST HOTELS & RESORTS, L.P.,
	a Delaware limited partnership
	
	By its general partner,
	 HOST HOTELS & RESORTS, INC.,
 a Maryland corporation

		
	By:	 	  

		 	Name:
		 	Title:

  

			
	Attest:	 	  

		 	Name:
		 	Title:

  
 A-2

 FORM OF TRUSTEE’S CERTIFICATE OF AUTHENTICATION 

This is one of the 5.25% Securities of the Series designated therein referred to in the within mentioned Indenture. 

 

			
	 THE BANK OF NEW YORK MELLON,
 as Trustee

		
	 By:
	 	  

		 	Authorized Signatory

 HOST HOTELS & RESORTS, L.P. 

5.25% [Series A][/Series B]4 Senior Note due 2022 
 THIS GLOBAL NOTE IS HELD BY THE DEPOSITORY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY
PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (1) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 6.01 OF THE FORTY-SECOND SUPPLEMENTAL INDENTURE, (2) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN
PART PURSUANT TO SECTION 6.01 OF THE FORTY-SECOND SUPPLEMENTAL INDENTURE, (3) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION 2.12 OF THE INDENTURE AND (4) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A
SUCCESSOR DEPOSITORY WITH THE PRIOR WRITTEN CONSENT OF THE COMPANY. 
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN
PART FOR NOTES IN CERTIFICATED FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY A NOMINEE OF THE DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY OR BY THE DEPOSITORY OR
ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITORY OR A NOMINEE OF SUCH 
  

	4 	 Series A should be replaced with Series B in the Exchange Notes. 

  
 A-3

 
SUCCESSOR DEPOSITORY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (“DTC”), TO THE COMPANY
OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF,
CEDE & CO., HAS AN INTEREST HEREIN.5

 THIS NOTE (OR ITS PREDECESSOR) HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED, EXCEPT AS SET FORTH BELOW. BY ITS ACQUISITION HEREOF OR OF A BENEFICIAL INTEREST HEREIN, THE HOLDER: 

(1) AGREES THAT IT WILL NOT RESELL OR OTHERWISE TRANSFER THIS NOTE EXCEPT (A) TO HOST HOTELS & RESORTS, L.P. (“HOST
L.P.”) OR ANY OF ITS WHOLLY OWNED SUBSIDIARIES, (B) TO A PERSON WHO IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) (A “QIB”) PURCHASING FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF
A QIB IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (C) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (D) OUTSIDE THE UNITED STATES IN AN OFFSHORE TRANSACTION IN ACCORDANCE WITH RULE 904 UNDER
THE SECURITIES ACT, (E) TO AN INSTITUTIONAL “ACCREDITED INVESTOR” (AS DEFINED IN RULE 501 (A)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT) THAT, PRIOR TO SUCH TRANSFER, FURNISHES THE TRUSTEE A SIGNED LETTER
CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS RELATING TO THE TRANSFER OF THIS NOTE (THE FORM OF WHICH CAN BE OBTAINED FROM THE TRUSTEE) AND, IF SUCH TRANSFER IS IN RESPECT OF AN AGGREGATE PRINCIPAL AMOUNT OF NOTES LESS THAN $250,000, AN OPINION
OF COUNSEL REASONABLY ACCEPTABLE TO HOST L.P. THAT SUCH TRANSFER IS EXEMPT UNDER THE SECURITIES ACT, (F) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 

 

	5 	 To be included only on Global Notes deposited with DTC as Depository. 

  
 A-4

 
SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL REASONABLY ACCEPTABLE TO HOST L.P.), OR (G) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH CASE, IN ACCORDANCE WITH THE
APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION; AND 
 (2) AGREES THAT IT WILL
DELIVER TO EACH PERSON TO WHOM THIS NOTE OR AN INTEREST HEREIN IS TRANSFERRED A NOTICE AS TO THE ABOVE
RESTRICTIONS.”6 

1.     Interest. 
 Host Hotels & Resorts, L.P., a Delaware limited partnership (hereinafter called the “Company,” which term includes any successors under the Indenture hereinafter referred to),
promises to pay interest on the principal amount of this Security at the rate of 5.25% per annum from March 22, 2012 until maturity. To the extent it is lawful, the Company promises to pay interest on any interest payment due but unpaid on
such principal amount at a rate of 5.25% per annum compounded semi-annually. 
 The Company will pay interest
semi-annually on March 15 and September 15 of each year (each, an “Interest Payment Date”), commencing September 15, 2012. Interest on the 5.25% Securities will accrue from the most recent date to which interest has been
paid or, if no interest has been paid on the Securities, from the date of the original issuance. Interest will be computed on the basis of a 360-day year consisting of twelve 30-day months. 

2.     Method of Payment. 
 The Company shall pay interest on the 5.25% Securities (except defaulted interest) to the Persons who are the registered Holders at the close of business on the Record Date immediately preceding the
Interest Payment Date. Holders must surrender Securities to a Paying Agent to collect principal payments. Principal of, premium, if any, and interest on the 5.25% Securities will be payable in United States Dollars at the office or agency of the
Company maintained for such purpose, in the Borough of Manhattan, The City of New York or at the option of the Company, payment of interest may be made by check mailed to the Holders of the 5.25% Securities at the addresses set forth upon the
registry books of the Company; provided, however, Holders of Global Securities will be entitled to receive interest payments (other than at maturity) by wire transfer of immediately available funds, if appropriate wire transfer
instructions have been received in writing by the Trustee not fewer than 15 days prior to the applicable Interest Payment Date. Such wire instructions, upon receipt by the Trustee, shall remain in effect until revoked by such Holder. No service
charge will be made for any registration of transfer or exchange of Securities, but the Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 

 

	6 	 To be included only on Transfer Restricted Notes. 

  
 A-5

 3.    Paying Agent and Registrar. 

Initially, The Bank of New York Mellon will act as Paying Agent and Registrar. The Company may change any Paying Agent, Registrar or
co-Registrar without notice to the Holders. The Company or any of its Subsidiaries may, subject to certain exceptions, act as Paying Agent, Registrar or co-Registrar. 
 4.     Indenture. 
 The Company issued the
5.25% Securities under an Amended and Restated Indenture, dated as of August 5, 1998, as supplemented (the “Indenture”), between the Company, certain Subsidiaries of the Company and the Trustee. Capitalized terms herein are used as
defined in the Indenture unless otherwise defined herein. The 5.25% Securities are unlimited in aggregate principal amount. The terms of the 5.25% Securities include those stated in the Indenture and those made part of the Indenture by reference to
the Trust Indenture Act of 1939, as in effect on the date of the Indenture. The 5.25% Securities are subject to all such terms, and Holders of 5.25% Securities are referred to the Indenture and said Act for a statement of them. The Securities are
senior, general obligations of the Company. Each Holder of this Security, by accepting the same, (a) agrees to and shall be bound by the provisions of the Indenture, (b) authorizes and directs the Trustee on his behalf to take such action
as may be provided in the Indenture and (c) appoints the Trustee his attorney-in-fact for such purpose. 
 5. Redemption.

 At any time, upon not less than 30 nor more than 60 days’ notice, the Company may redeem the 5.25% Securities in
whole or in part at any time at a Redemption Price equal to 100% of the principal amount thereof plus the Make-Whole Premium, together with accrued and unpaid interest thereon, if any, to the applicable Redemption Date. Notice of a redemption of the
5.25% Securities made pursuant to this paragraph 5 shall be given in the manner set forth in Section 3.3 of the Indenture; provided however, that any such notice need not set forth the Redemption Price but need only set
forth the calculation thereof as described in the immediately preceding sentence of this paragraph 5. The Redemption Price, calculated as aforesaid, shall be set forth in an Officer’s Certificate delivered by the Company to the Trustee no later
than one Business Day prior to the Redemption Date. 
 Notwithstanding the foregoing, within the period beginning 90 days
prior to their Stated Maturity, upon not less than 30 nor more than 60 days’ notice, the Company may redeem the 5.25% Securities in whole or in part, at a Redemption Price equal to 100% of the principal amount thereof, together with accrued and
unpaid interest thereon, if any, to the applicable Redemption Date (subject to the right of Holders of record on the relevant Record Date to receive interest due on an Interest Payment Date that is on or prior to the applicable Redemption Date).

  
 A-6

 The Company is not prohibited from acquiring the 5.25% Securities by means other than a
redemption, whether pursuant to an issuer tender offer, in open market transactions, or otherwise, assuming such acquisition does not otherwise violate the terms of the Indenture. 

The 5.25% Securities will not have the benefit of a sinking fund. 
 6.     Denominations; Transfer; Exchange. 

The 5.25% Securities are in registered form, without coupons, in denominations of $2,000 and integral multiples of $1,000. A Holder may
register the transfer of, or exchange 5.25% Securities in accordance with, the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required by
law or permitted by the Indenture. The Registrar need not register the transfer of or exchange any 5.25% Securities (a) selected for redemption except the unredeemed portion of any 5.25% Security being redeemed in part or (b) for a period
beginning 15 Business Days before the mailing of a notice of an offer to repurchase or redemption and ending at the close of business on the day of such mailing. 
 7.     Persons Deemed Owners. 
 The registered
Holder of a 5.25% Security may be treated as the owner of it for all purposes. 
 8.     Unclaimed Money.

 If money for the payment of principal or interest remains unclaimed for two years, the Trustee and the Paying Agent(s)
will pay the money back to the Company at its written request. After that, all liability of the Trustee and such Paying Agent(s) with respect to such money shall cease. 
 9.     Discharge Prior to Redemption or Maturity. 

Except as set forth in the Indenture, if the Company irrevocably deposits with the Trustee, in trust, for the benefit of the Holders,
U.S. legal tender, U.S. Government Obligations or a combination thereof, in such amounts as will be sufficient, in the opinion of a nationally recognized firm of independent public accountants, to pay the principal of, premium, if any, and interest
on such 5.25% Securities on the stated date for payment thereof or on the redemption date of such principal or installment of principal of, premium, if any, or interest on such 5.25% Securities, the Company will be discharged from certain provisions
of the Indenture and the 5.25% Securities (including the restrictive covenants described in paragraph 11 below, but excluding its obligation to pay the principal of, premium, if any, and interest on the 5.25% Securities). Upon satisfaction of
certain additional conditions set forth in the Indenture, the Company may elect to have its obligations and the obligations of the Subsidiary Guarantors, if applicable, discharged with respect to outstanding 5.25% Securities. 

  
 A-7

 10.     Amendment; Supplement; Waiver. 

The Company, the Subsidiary Guarantors and the Trustee may enter into a supplemental indenture for certain limited purposes without the
consent of the Holders. Subject to certain exceptions, the Indenture or the 5.25% Securities may be amended or supplemented with the written consent of the Holders of not less than a majority in aggregate principal amount of the 5.25% Securities
then outstanding, and any existing Default or Event of Default or compliance with any provision may be waived with the consent of the Holders of a majority in aggregate principal amount of the 5.25% Securities then outstanding. Without notice to or
consent of any Holder, the parties thereto may under certain circumstances amend or supplement the Indenture or the 5.25% Securities to, among other things, cure any ambiguity, defect or inconsistency, or make any other change that does not
adversely affect the rights of any Holder of a 5.25% Security. 
 11.     Restrictive Covenants.

 The Indenture imposes certain limitations on the ability of the Company, the Subsidiary Guarantors and any Restricted
Subsidiary to, among other things, incur additional Indebtedness and issue Disqualified Stock, pay dividends or make certain other Restricted Payments, enter into certain transactions with Affiliates, incur Liens, sell assets and subsidiary stock,
merge or consolidate with any other Person or transfer (by lease, assignment or otherwise) substantially all of the properties and assets of the Company. The limitations are subject to a number of important qualifications and exceptions and certain
restrictive covenants will cease to be applicable under certain circumstances. The Company must periodically report to the Trustee on compliance with such limitations. 
 12.     Repurchase at Option of Holder. 
 (a)
If there is a Change of Control Triggering Event, the Company shall be required to offer irrevocably to purchase on the Change of Control Purchase Date all outstanding 5.25% Securities at a purchase price equal to 101% of the principal amount
thereof, plus (subject to the right of Holders of record on a Record Date that is on or prior to such Change of Control Purchase Date to receive interest due on the Interest Payment Date to which such Record Date relates) accrued and unpaid
interest, if any, to the Change of Control Purchase Date. Holders of 5.25% Securities will receive a Change of Control Offer from the Company prior to any related Change of Control Purchase Date and may elect to have such 5.25% Securities purchased
by completing the form entitled “Option of Holder to Elect Purchase” appearing below. 
 (b) The Company will
not be required to make a Change of Control Offer upon a Change of Control Triggering Event if (1) a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in the
Indenture applicable to a Change of Control Offer made by the Company and purchases all 5.25% Securities properly tendered and not withdrawn under the Change of Control Offer, or (2) notice of redemption has been given pursuant to the Indenture
as described above under paragraph 5, unless and until there is a default in payment of the applicable redemption price. 

  
 A-8

 (c) The Indenture imposes certain limitations on the ability of the Company, the
Subsidiary Guarantors or any Restricted Subsidiary to sell assets and subsidiary stock. In the event the Net Cash Proceeds from a permitted Asset Sale exceed certain amounts, as specified in the Indenture, the Company will be required either to
reinvest the proceeds of such Asset Sale in a Related Business or other permitted investments, repay certain Indebtedness or to make an offer to purchase each Holder’s 5.25% Securities at 100% of the principal amount thereof, plus accrued
interest, if any, to the purchase date. The limitations and the Company’s obligations with respect to the use of proceeds from an Asset Sale are subject to a number of important qualifications and exceptions and will cease to be applicable
under certain circumstances. 
 13.     Notation of Guarantee. 

As set forth more fully in the Indenture, the Persons constituting Subsidiary Guarantors from time to time, in accordance with the
provisions of the Indenture, irrevocably and unconditionally and jointly and severally guarantee, in accordance with Section 12.1 of the Indenture, to the Holders and to the Trustee and its successors and assigns, that (i) the principal of
and interest on the 5.25% Securities will be paid, whether at the Stated Maturity or Interest Payment Dates, by acceleration, call for redemption or otherwise, and all other obligations of the Company to the Holders or the Trustee under the
Indenture or this 5.25% Security will be promptly paid in full or performed, all in accordance with the terms of the Indenture and this 5.25% Security, and (ii) in the case of any extension of payment or renewal of this 5.25% Security or any of
such other obligations, they will be paid in full when due or performed in accordance with the terms of such extension or renewal, whether at the Stated Maturity, as so extended, by acceleration or otherwise. Such Guarantees shall cease to apply,
and shall be null and void, with respect to any such guarantor who, pursuant to Article 12 of the Indenture, is released from its Guarantees, or whose Guarantees otherwise cease to be applicable pursuant to the terms of the Indenture.

 14.     Successor. 
 When a successor assumes all the obligations of its predecessor under the 5.25% Securities and the Indenture, the predecessor will be released from those obligations. 

15.     Defaults and Remedies. 
 If an Event of Default with respect to the 5.25% Securities occurs and is continuing (other than an Event of Default relating to bankruptcy, insolvency or reorganization of the Company), then either
the Trustee or the Holders of 25% in aggregate principal amount of the 5.25% Securities then outstanding may declare all 5.25% Securities to be due and payable immediately in the manner and with the effect provided in the Indenture. Holders of 5.25%
Securities may not enforce the Indenture or the 5.25% Securities, except as provided in the Indenture. The Trustee may require indemnity satisfactory to it before it enforces the Indenture or the 5.25% Securities. Subject to certain limitations,
Holders of a majority in principal amount of the then outstanding 5.25% Securities may direct the Trustee in its exercise of any trust or power 

  
 A-9

 
with respect to such 5.25% Securities. The Trustee may withhold from Holders of 5.25% Securities notice of any continuing Default or Event of Default (except a Default in payment of principal or
interest) if it determines that withholding notice is in their interest. 
 16.     Trustee and Agent Dealings
with Company. 
 The Trustee and each Agent under the Indenture, in its individual or any other capacity, may make
loans to, accept deposits from, and perform services for the Company or any Subsidiary Guarantor or any of their Subsidiaries or any of their respective Affiliates, and may otherwise deal with such Persons as if it were not the Trustee or such
agent. 
 17.     No Recourse Against Others. 

No recourse for the payment of the principal of, premium, if any, or interest on the 5.25% Securities or for any claim based thereon or
otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement of the Company or the Subsidiary Guarantors in the Indenture, or in the 5.25% Securities or because of the creation of any Indebtedness represented
thereby, shall be had against any incorporator, partner, stockholder, officer, director, employee or controlling Person of the Company or the Subsidiary Guarantors or of any successor Person thereof, except as an obligor or guarantor of the 5.25%
Securities pursuant to the Indenture. Each Holder, by accepting the 5.25% Securities, waives and releases all such liability. 

18.     Authentication. 
 This 5.25% Security shall not be valid until the Trustee or authenticating agent signs the certificate of authentication on the other side of this 5.25% Security. 

19.     Abbreviations and Defined Terms. 
 Customary abbreviations may be used in the name of a Holder of a 5.25% Security or an assignee, such as: TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants
with right of survivorship and not as tenants in common), CUST (= Custodian), and U/G/M/A (= Uniform Gifts to Minors Act). 

20.     CUSIP Numbers. 
 Pursuant to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company will cause CUSIP numbers to be printed on the 5.25% Securities as a convenience to
the Holders of the 5.25% Securities. No representation is made as to the accuracy of such numbers as printed on the 5.25% Securities and reliance may be placed only on the other identification numbers printed hereon. 

  
 A-10

 21.     Additional Rights of Holders of Transfer Restricted
Notes.7 
 In addition to the rights provided to Holders of 5.25% Securities under the Indenture, Holders of Transfer Restricted Notes shall have all the rights set forth in the Registration Rights Agreement
dated as of the date of the Forty-Second Supplemental Indenture, among the Company and the Initial Purchasers. 

22.     Governing Law. 
 THE INDENTURE AND THE 5.25% SECURITIES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK INCLUDING, WITHOUT LIMITATION, SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK
GENERAL OBLIGATIONS LAW AND NEW YORK CIVIL PRACTICE LAWS AND RULES 327(b). 
  

	7 	To be included only on Transfer Restricted Notes. 

  
 A-11

 [FORM OF ASSIGNMENT] 
 I or we assign this Security to 

			
	  
	  	
	  
	  	
	  
	  	

 (Print or type name, address and zip code of assignee) 
 Please insert Social Security or other identifying number of assignee 

	
	  

 and irrevocably appoint             agent to
transfer this Security on the books of the Company. The agent may substitute another to act for him. 
  

							
	Dated:	 	  
	  	                  Signed:       
                                         
                                         
     
		 		  		 	        (Sign exactly as name appears on
		 		  		 	        the other side of this Security)

 Signature Guarantee**                   
                              

 

	** 	NOTICE: The Signature must be guaranteed by an Institution which is a member of one of the following recognized signature Guarantee Programs: (i) The Securities
Transfer Agent Medallion Program (STAMP); (ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock Exchange Medallion Program (SEMP); or (iv) in such other guarantee program acceptable to the Trustee.

  
 A-12

 OPTION OF HOLDER TO ELECT PURCHASE 

If you want to elect to have this Security purchased by the Company pursuant to Section 5.04 of the Forty-Second Supplemental
Indenture or Article 10 of the Indenture, check the appropriate box: 
  ̈
Section 5.04 
  ̈ Article 10. 

If you want to elect to have only part of this Security purchased by the Company pursuant to Section 5.04 or Article 10 of the
Indenture, as the case may be, state the amount you want to be purchased: $            . 
  

			
	Date:                            
            	  	Signature:
                                         
               
		  	                   (Sign exactly as your name appears
		  	                   on the other side of this Security)

 Signature Guarantee***                   
                              

 

	*** 	NOTICE: The Signature must be guaranteed by an Institution which is a member of one of the following recognized signature Guarantee Programs: (i) The Securities
Transfer Agent Medallion Program (STAMP); (ii) The New York Stock Exchange Medallion Program (MNSP); (iii) The Stock Exchange Medallion Program (SEMP); or (iv) in such other guarantee program acceptable to the Trustee.

  
 A-13

 SCHEDULE OF
EXCHANGES8 
 The following exchanges of a part of this Global Security have been made: 
  

									
	 Date of Exchange
	 	 Amount of decrease in
Principal Amount of
this
Global Note
	 	 Amount of increase in
Principal Amount of
this
Global Note
	  	Principal Amount of
this
Global Note following such
decrease (or increase)	  	Signature of
authorized officer of
Trustee or Note
Custodian
		 		 		  		  	

  

	8 	This should be included only if the Security is issued in global form. 

  
 A-14

 EXHIBIT B 
 FORM OF CERTIFICATE OF TRANSFER 
 Host Hotels & Resorts, L.P. 

6903 Rockledge Drive, Suite 1500 

Bethesda, Maryland 20817 
 Attention:
Chief Financial Officer 
 The Bank of New York Mellon, as Trustee 
 525 William Penn Place, 38th Floor 
 Pittsburgh, Pennsylvania 15259 

Attention: Corporate Trust Department 
 Re: 5.25% Series A Senior Notes due 2022 
 Dear Sirs: 

Reference is hereby made to the Amended and Restated Indenture, dated as of August 5, 1998 (the “Base Indenture”),
among HMH Properties, Inc., its Parents, the Subsidiaries of Host Hotels & Resorts, L.P. (the Company”) named therein, and The Bank of New York Mellon, as successor-in-interest to HSBC Bank USA, formerly known as Marine Midland Bank,
as Trustee (the “Trustee”), and the Forty-Second Supplemental Indenture to the Base Indenture, dated as of March 22, 2012 (the “Forty-Second Supplemental Indenture” and, together with the Base Indenture, the
“Indenture”), between the Company, as issuer, and the Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture.             ,
(the “Transferor”) owns and proposes to transfer the Note[s] or interest in such Note[s] specified in Annex A hereto, in the principal amount of $            in such Note[s] or
interests (the “Transfer”), to             (the “Transferee”), as further specified in Annex A hereto. In connection with the Transfer, the Transferor hereby certifies
that: 

  
 B-1

 [CHECK ALL THAT APPLY] 
 1.   ̈  Check if Transferee will take delivery of a beneficial interest in the 144A Restricted Global Note or a
Certificated Note pursuant to Rule 144A. The Transfer is being effected pursuant to and in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and, accordingly, the Transferor hereby further
certifies that the beneficial interest or Certificated Note is being transferred to a Person that the Transferor reasonably believed and believes is purchasing the beneficial interest or Certificated Note for its own account, or for one or more
accounts with respect to which such Person exercises sole investment discretion, and such Person and each such account is a “qualified institutional buyer” within the meaning of Rule 144A in a transaction meeting the requirements of Rule
144A, and such Transfer is in compliance with any applicable blue sky securities laws of any state of the United States and the restrictions set forth in the Private Placement Legend. Upon consummation of the proposed Transfer in accordance with the
terms of the Indenture, the transferred beneficial interest or Certificated Note will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Rule 144A Global Note and/or the Certificated Note and in the
Indenture and the Securities Act. 
 2.   ̈  Check if
Transferee will take delivery of a beneficial interest in the Regulation S Global Note or a Restricted Certificated Note pursuant to Regulation S. The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the
Securities Act and, accordingly, the Transferor hereby further certifies that (i) the Transfer is not being made to a Person in the United States and (x) at the time the buy order was originated, the Transferee was outside the United
States or such Transferor and any Person acting on its behalf reasonably believed and believes that the Transferee was outside the United States or (y) the transaction was executed in, on or through the facilities of a designated offshore
securities market and neither such Transferor nor any Person acting on its behalf knows that the transaction was prearranged with a buyer in the United States, (ii) no directed selling efforts have been made in contravention of the requirements
of Rule 903(b) or Rule 904(b) of Regulation S under the Securities Act, (iii) the transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act and (iv) if the proposed transfer is being made
prior to the expiration of the Regulation S Restricted Period, the transfer is not being made to a U.S. Person or for the account or benefit of a U.S. Person (other than an Initial Purchaser and such Transfer is in compliance with any applicable
blue sky securities laws of any State of the United States and the restrictions set forth in the Private Placement Legend). Upon consummation of the proposed transfer in accordance with the terms of the Indenture, the transferred beneficial interest
or Certificated Note will be subject to the restrictions on Transfer enumerated in the Private Placement Legend printed on the Regulation S Global Note and/or the Restricted Certificated Note and in the Indenture and the Securities Act.

  
 B-2

 3.   ̈  Check and
complete if Transferee will take delivery of a beneficial interest in the Restricted Certificated Note pursuant to any provision of the Securities Act other than Rule 144A or Regulation S. The Transfer is being effected in compliance with the
transfer restrictions applicable to beneficial interests in Restricted Global Notes and Restricted Certificated Notes and pursuant to and in accordance with the Securities Act and any applicable blue sky securities laws of any state of the United
States, and accordingly the Transferor hereby further certifies that (check one): 

(a)   ̈  such Transfer is being effected pursuant to and in
accordance with Rule 144 under the Securities Act; 
 or 
 (b)   ̈  such Transfer is being effected to the Company or a subsidiary thereof; 

or 
 (c)   ̈  such Transfer is being effected pursuant to an effective registration statement under the Securities Act and in compliance with the prospectus delivery requirements of the Securities
Act; 
 or 

(d)   ̈  such Transfer is being effected to an Institutional
Accredited Investor and pursuant to an exemption from the registration requirements of the Securities Act other than Rule 144A, Rule 144, Rule 903 or Rule 904 and the Transferor hereby further certifies that it has not engaged in any general
solicitation within the meaning of Regulation D under the Securities Act and the Transfer complies with the transfer restrictions applicable to beneficial interests in a Restricted Global Note or Restricted Certificated Notes (including those set
forth in the Private Placement Legend) and the requirements of the exemption claimed, which certification is supported by (1) a certificate executed by the Transferee in the form of Exhibit D to the Forty-Second Supplemental Indenture and
(2) if such Transfer is in respect of a principal amount of Series A Notes at the time of transfer of less than $250,000, an Opinion of Counsel provided by the Transferor or the Transferee (a copy of which the Transferor has attached to this
certification and provided to the Company, which has confirmed its acceptability), to the effect that such Transfer is in compliance with the Securities Act. Upon consummation of the proposed transfer in accordance with the terms of the Indenture,
the Certificated Note will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on Restricted Certificated Notes and in the Indenture and the Securities Act. 

4.   ̈  Check if Transferee will take delivery of a transferred
beneficial interest in an Unrestricted Global Note or of an Unrestricted Certificated Note. 

  
 B-3

 (a)   ̈  Check if
Transfer is pursuant to Rule 144. (i) The Transfer is being effected pursuant to and in accordance with Rule 144 under the Securities Act and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky
securities laws of any state of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act. Upon consummation of
the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Certificated Note will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the
Restricted Global Notes, on Restricted Certificated Notes and in the Indenture and the Securities Act. 
 (b)   ̈  Check if Transfer is Pursuant to Regulation S. (i) The Transfer is being effected pursuant to and in accordance with Rule 903 or Rule 904 under the Securities Act and in
compliance with the transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any state of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend
are not required in order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Certificated Note will no longer be subject to
the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted Certificated Notes and in the Indenture. 
 The Transferor hereby further certifies that: 
 (a) the
offer of the beneficial interest or Certificated Note being transferred was not made to a person in the United States; 
 (b) either: 
 (i) at the time the buy order was
originated, the Transferee was outside the United States or the Transferor and any person acting on its behalf reasonably believed that the Transferee was outside the United States; or 

(ii) the transaction was executed in, on or through the facilities of a designated offshore securities market and
neither the Transferor nor any person acting on its behalf knows that the transaction was prearranged with a buyer in the United States; 
 (c) no directed selling efforts have been made in contravention of the requirements of Rule 903(b) or 904(b) of Regulation S, as applicable; and 

(d) the transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act.

  
 B-4

 Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred
beneficial interest or Certificated Note will no longer be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted Certificated Notes and in the Indenture and the
Securities Act. 
 (b)   ̈  Check if Transfer is
Pursuant to Other Exemption. (i) The Transfer is being effected pursuant to and in compliance with an exemption from the registration requirements of the Securities Act other than Rule 144, Rule 903 or Rule 904 and in compliance with the
transfer restrictions contained in the Indenture and any applicable blue sky securities laws of any State of the United States and (ii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in
order to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Certificated Note will not be subject to the restrictions on
transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes or Restricted Certificated Notes and in the Indenture. 
 This certificate and the statements contained herein are made for your benefit and the benefit of the Company. 
  

							
	  
	 	
Dated:                      
                                         
                                         
     

	 [Insert Name of Transferor]
	 		 	
				
	 By:
	 	  
	 		 	
		 	 Name:
	 		 	
		 	 Title:
	 		 	

  
 B-5

 ANNEX A TO CERTIFICATE OF TRANSFER 

1. The Transferor owns and proposes to transfer the following: 
 [CHECK ONE OF (a) OR (b)] 
  

	 	(a)   ̈  	a beneficial interest in the: 

  

	 	(i)   ̈  	144A Global Note (CUSIP             ), or 

 

	 	(ii)   ̈  	Regulation S Global Note (CUSIP             ), or 

 

	 	(b)   ̈  	a Restricted Certificated Note. 

 2. After the
Transfer the Transferee will hold: 
 [CHECK ONE] 

 

	 	(a)   ̈  	a beneficial interest in the: 

  

	 	(i)   ̈  	144A Global Note (CUSIP             ), or 

 

	 	(ii)   ̈  	Regulation S Global Note (CUSIP             ), or 

 

	 	(iii)   ̈  	Unrestricted Global Note (CUSIP             ); or 

 

	 	(b)   ̈  	a Restricted Certificated Note; or 

  

	 	(c)   ̈  	an Unrestricted Certificated Note, 

 in accordance with the terms of the Indenture. 

  
 B-6

 EXHIBIT C 
 FORM OF CERTIFICATE OF EXCHANGE 
 Host Hotels & Resorts, L.P. 

6903 Rockledge Drive, Suite 1500 

Bethesda, Maryland 20817 
 Attention:
Chief Financial Officer 
 The Bank of New York Mellon, as Trustee 
 525 William Penn Place, 38th Floor 
 Pittsburgh, Pennsylvania 15259 

Attention: Corporate Trust Department 
 Re: 5.25% Series A Senior Notes due 2022 
 Dear Sirs: 

Reference is hereby made to the Amended and Restated Indenture, dated as of August 5, 1998 (the “Base Indenture”),
among HMH Properties, Inc., its Parents, the Subsidiaries of Host Hotels & Resorts, L.P. (the “Company”) named therein and The Bank of New York Mellon, as successor-in-interest to HSBC Bank USA, formerly known as Marine Midland
Bank, as trustee (the “Trustee”), and the Forty-Second Supplemental Indenture to the Base Indenture, dated as of March 22, 2012 (the “Forty-Second Supplemental Indenture” and, together with the Base Indenture, the
“Indenture”), between the Company, as issuer, and the Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 

            , (the “Owner”) owns and proposes to exchange the
Note[s] or interest in such Note[s] specified herein, in the principal amount of $             in such Note[s] or interests (the “Exchange”). In connection with the Exchange, the
Owner hereby certifies that: 
 1. Exchange of Restricted Certificated Notes or Beneficial Interests in a Restricted Global Note for
Unrestricted Certificated Notes or Beneficial Interests in an Unrestricted Global Note 
 (a)   ̈   Check if Exchange is from beneficial interest in a Restricted Global Note to beneficial interest in an Unrestricted Global Note. In connection with the Exchange of the Owner’s
beneficial interest in a Restricted Global Note for a beneficial interest in an Unrestricted Global Note in an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired for the Owner’s own account
without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Global Notes and pursuant to and in accordance with the Securities Act of 1933, as amended (the “Securities
Act”), (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial interest in an Unrestricted
Global Note is being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 

  
 C-1

 (b)   ̈   Check if Exchange is from
beneficial interest in a Restricted Global Note to Unrestricted Certificated Note. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for an Unrestricted Certificated Note, the Owner hereby
certifies (i) the Certificated Note is being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted Global Notes and
pursuant to and in accordance with the Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the
Certificated Note is being acquired in compliance with any applicable blue sky securities laws of any state of the United States. 

(c)   ̈   Check if Exchange is from Restricted Certificated Note to beneficial
interest in an Unrestricted Global Note. In connection with the Owner’s Exchange of a Restricted Certificated Note for a beneficial interest in an Unrestricted Global Note, the Owner hereby certifies (i) the beneficial interest is
being acquired for the Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted Certificated Notes and pursuant to and in accordance with the
Securities Act, (iii) the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the beneficial interest is being acquired in
compliance with any applicable blue sky securities laws of any state of the United States. 

(d)   ̈   Check if Exchange is from Restricted Certificated Note to Unrestricted
Certificated Note. In connection with the Owner’s Exchange of a Restricted Certificated Note for an Unrestricted Certificated Note, the Owner hereby certifies (i) the Unrestricted Certificated Note is being acquired for the
Owner’s own account without transfer, (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted Certificated Notes and pursuant to and in accordance with the Securities Act, (iii) the
restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act and (iv) the Unrestricted Certificated Note is being acquired in compliance with any
applicable blue sky securities laws of any state of the United States. 
 2. Exchange of Restricted Certificated Notes or Beneficial
Interests in Restricted Global Notes for Restricted Certificated Notes or Beneficial Interests in Restricted Global Notes 

(a)   ̈   Check if Exchange is from beneficial interest in a Restricted Global
Note to Restricted Certificated Note. In connection with the Exchange of the Owner’s beneficial interest in a Restricted Global Note for a Restricted Certificated Note with an equal principal amount, the Owner hereby certifies that the
Restricted Certificated Note is being acquired for the Owner’s own account without transfer. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the Restricted Certificated Note issued will continue to be
subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Certificated Note and in the Indenture and the Securities Act. 

  
 C-2

 (b)   ̈   Check if Exchange is from
Restricted Certificated Note or Unrestricted Certificated to beneficial interest in a Restricted Global Note. In connection with the Exchange of the Owner’s Restricted Certificated Note for a beneficial interest in the [CHECK ONE]  ̈ 144A Global Note,  ̈ Regulation S Global Note with an equal principal amount, the Owner hereby certifies (i) the beneficial interest is being acquired
for the Owner’s own account without transfer and (ii) such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted Global Notes and pursuant to and in accordance with the Securities Act, and in
compliance with any applicable blue sky securities laws of any state of the United States. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the beneficial interest issued will be subject to the restrictions
on transfer enumerated in the Private Placement Legend printed on the relevant Restricted Global Note and in the Indenture and the Securities Act. 
 This certificate and the statements contained herein are made for your benefit and the benefit of the Company. 
  

			
	  

	[Insert Name of Owner]
	
	By:                          
                                         
                       
		 	Name:
		 	Title:
	
	Dated:                          
                                         
                

  
 C-3

 EXHIBIT D 
 FORM OF CERTIFICATE FROM ACQUIRING 
 INSTITUTIONAL ACCREDITED INVESTOR

 Host Hotels & Resorts, L.P. 
 6903 Rockledge Drive 
 Bethesda, Maryland 20817 

Attention: Chief Financial Officer 

The Bank of New York Mellon, as Trustee 

525 William Penn Place, 38th Floor 

Pittsburgh, Pennsylvania 15259 

Attention: Corporate Trust Department 
 Re: 5.25% Series A Senior Notes due 2022 
 Dear Sirs: 

Reference is hereby made to the Amended and Restated Indenture, dated as of August 5, 1998 (the “Base Indenture”),
among HMH Properties, Inc., its Parents, the Subsidiaries of Host Hotels & Resorts, L.P. (the “Company”) named therein and The Bank of New York Mellon, as successor-in-interest to HSBC Bank USA, formerly known as Marine Midland
Bank, as trustee (the “Trustee”), and the Forty-Second Supplemental Indenture to the Base Indenture, dated as of March 22, 2012 (the “Forty-Second Supplemental Indenture” and, together with the Base Indenture, the
“Indenture”), between the Company, as issuer, and the Trustee. Capitalized terms used but not defined herein shall have the meanings given to them in the Indenture. 

In connection with our proposed purchase of $            aggregate
principal amount of: (a) a beneficial interest in a Global Note, or (b) a Certificated Note, we confirm that: 

1. We understand that any subsequent transfer of the Securities or any interest therein is subject to certain restrictions and
conditions set forth in the Indenture and the undersigned agrees to be bound by, and not to resell, pledge or otherwise transfer the Securities or any interest therein except in compliance with, such restrictions and conditions and the United States
Securities Act of 1933, as amended (the “Securities Act”). 
 2. We understand that the offer and sale of the
Securities have not been registered under the Securities Act, and that the Securities and any interest therein may not be offered or sold except as permitted in the following sentence. We agree, on our own behalf and on behalf of any accounts for
which we are acting as hereinafter stated, that if we should sell the Securities or any interest therein, we will do so only (a) to a person who is a qualified institutional buyer in a transaction meeting the requirements of Rule 144A,
(b) pursuant to an exemption from registration under the Securities Act provided by Rules 144 thereunder (if available), (c) to an institutional “accredited investor” (as defined in Rule 501 (a)(1), (2), (3) or (7) of
Regulation D under the Securities Act) that, prior to such 

  
 D-1

 
transfer, furnishes the trustee a signed letter containing certain representations and agreements relating to the transfer of this Security (the form of which can be obtained from the trustee)
and, if such transfer is for less than an aggregate principal amount of $250,000, an opinion of counsel reasonably acceptable to the Company, if requested by the Company, that the transfer is exempt from registration under the Securities Act,
(d) outside the United States in a transaction complying with the provisions of Rule 904 under the Securities Act, (e) in accordance with another exemption from the registration requirements of the Securities Act (and based upon an opinion
of counsel reasonably acceptable to the Company, if requested by the Company), or (f) to the Company or any Subsidiary Guarantor and, in each case, in accordance with the applicable securities laws of any state of the United States or any other
applicable jurisdiction; provided, however, that for any transaction pursuant to clauses (a) through (d) occurring within one year of the date of issuance of the Securities by the Company, the purchaser of the Securities will represent
that is a “qualified person” as defined in Section 49(a)(1)(D)(iv) of the Internal Revenue Code of 1986, as amended (the “Code”). We will, and we will inform each subsequent purchaser that such subsequent purchaser is
required to, notify any subsequent purchaser from it as to the resale restrictions set forth in the preceding sentence. 

3. We understand that, on any proposed resale of the Securities or beneficial interest therein, we will be required to furnish to you
and the Company such certifications, legal opinions and other information as you and the Company may reasonably require to confirm that the proposed sale complies with the foregoing restrictions. We further understand that the Securities purchased
by us will bear a legend to the foregoing effect. 
 4. We are an institutional “accredited investor” (as
defined in Rule 501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act) and have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of our investment in the
Securities, and we and any accounts for which we are acting are each able to bear the economic risk of our or its investment. We are also a “qualified person” as defined above. 

5. We are acquiring the Securities or beneficial interest therein purchased by us for our own account or for one or more accounts
(each of which is an institutional “accredited investor”) as to each of which we exercise sole investment discretion. 
 You and the Company are entitled to rely upon this letter and are irrevocably authorized to produce this letter or a copy hereof to any interested party in any administrative or legal proceedings or
official inquiry with respect to the matters covered hereby. 
  

					
	  
	    	Dated:                         
                                         
                                         
              
	[Insert Name of Accredited Investor]	    		 	

  

			
	By:	 	  

		 	Name:
		 	Title:

  
 D-2

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