Document:

Amended and Restated Promissory Note

 Exhibit 10.65 
 AMENDED AND RESTATED PROMISSORY NOTE 
  

			
	U.S. $20,900,000.00	 	November 7, 2007

 FOR VALUE RECEIVED, and at the times
hereinafter specified, KBS ADP PLAZA, LLC, a Delaware limited liability company (“Maker”), whose address is c/o KBS Capital Advisors LLC, 620 Newport Center Drive, Suite 1300, Newport Beach, California 92660,
hereby promises to pay to the order of AMERICAN GENERAL LIFE INSURANCE COMPANY, a Texas corporation (hereinafter referred to, together with each subsequent holder hereof, as “Holder”), at c/o AIG Global Investment Corp.,
1 SunAmerica Center, 38th Floor, Century City, Los Angeles, California 90067-6022, or at such other address as may be designated from
time to time hereafter by any Holder, the principal sum of TWENTY MILLION NINE HUNDRED THOUSAND AND NO/100THS DOLLARS ($20,900,000.00), together with interest on the principal balance outstanding from time to time, as hereinafter provided, in lawful
money of the United States of America. 
 RECITALS 
 A. On or about September 13, 2007, Holder made a loan to Maker and KBS Industrial Portfolio, LLC, a Delaware limited liability company
(“Other Maker”), in the original principal amount of $20,900,000.00 (the “Loan”). The Loan is evidenced by a Promissory Note dated as of September 13, 2007 (the “Original Note”) executed by Maker and Other Maker
for the benefit of Holder in the original principal amount of the Loan. 
 B. The Loan is secured by (i) a Deed to Secure Debt, Security
Agreement and Assignment of Leases and Rents of even date with the Original Note executed by Other Maker for the benefit of Holder, encumbering certain real property and improvements thereon located in Cobb County, Georgia (the “Georgia
Property”) and as more particularly described therein (the “Deed to Secure Debt”), (ii) a Mortgage, Security Agreement, Fixture Filing, Financing Statement and Assignment of Leases and Rents of even date with the Original Note
executed by Other Maker for the benefit of Holder, encumbering certain real property and improvements thereon located in Hennepin County, Minnesota (the “Minnesota Property”) and as more particularly described therein (the
“Mortgage”), and (iii) a Deed of Trust, Security Agreement, Fixture Filing, Financing Statement and Assignment of Leases and Rents of even date with the Original Note executed by Other Maker for the benefit of Holder, encumbering
certain real property and improvements thereon located in Tarrant County, Texas (the “Texas Property”) and as more particularly described therein (collectively with the Deed to Secure Debt and the Mortgage, the “Original Lien
Instruments”). The Original Note, the Original Lien Instruments and all of the other documents evidencing, securing and/or executed in connection with the Loan are collectively referred to herein as the “Original Loan Documents.”

 C. Pursuant to the Collateral Substitution Agreement dated as of September 13, 2007 among Maker, Other Maker and Holder,
contemporaneously with the execution and delivery of this Amended and Restated Promissory Note (this “Note”), (i) Holder is releasing the Georgia Property, the Minnesota Property and the Texas Property from the lien of the Original
Lien Instruments, (ii) Holder is releasing Other Maker from all of Other Maker’s 

 
liability under the Original Loan Documents (except for Other Maker’s liability under the environmental indemnity provisions contained in the Original
Lien Instruments) pursuant to the terms of a Release Agreement of even date herewith among Maker, Other Maker, KBS REIT Properties, LLC, a Delaware limited liability company, and Holder, and (iii) Maker is executing the Deed of Trust (as
defined in Section 11 below) and pledging the Property (as defined in Section 11 below) as security for the Loan. The releases of liens, release from liability and pledge of the Property described above are collectively hereinafter
referred to as the “Substitution.” 
 D. This Note shall be effective as of the closing date of the Substitution, and upon such
closing, (i) this Note shall amend, modify and restate in its entirety (but shall not constitute a novation of), the Original Note, and (ii) the conditions contained in this Note shall supersede and control the terms, covenants,
agreements, rights, obligations and conditions contained in the Original Note. 
 AGREEMENT 
 By its execution and delivery of this Note, Maker covenants and agrees as follows: 
 1. Interest Rate and Payments. 
 (a)
The balance of principal outstanding from time to time under this Note shall bear interest at the fixed rate of five and fifty-six one hundredths percent (5.56%) per annum (the “Original Interest Rate”), based on a three hundred
sixty (360) day year composed of twelve (12) months of thirty (30) days each; however, interest for partial months shall be calculated by multiplying the principal balance of this Note by the applicable interest rate
(i.e., the Original Interest Rate or the New Rate (hereinafter defined)), dividing the product by three hundred sixty (360), and multiplying that result by the actual number of days elapsed. 
 (b) Interest only was paid on the date the Loan was funded by Holder (the “Funding Date”), in advance, for the period from and including the
Funding Date through and including September 30, 2007 (the “Stub Interest Period”). Interest that was due on November 1, 2007 under the Original Note has been paid, in arrears, in the amount of $96,836.67. 
 (c) Commencing on December 1, 2007, and on the first day of each month thereafter through and including September 1, 2013, payments of
interest only shall be payable, in arrears, in the amount of $96,836.67 each. 
 (d) The entire outstanding principal balance of this Note,
together with all accrued and unpaid interest and all other sums due hereunder, shall be due and payable in full on October 1, 2013 (the “Original Maturity Date”). 
  

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 2. Holder’s Extension Option; Net Operating Income. Subject to the provisions of
Section 30 hereof: 
 (a) If Maker shall fail to pay the outstanding principal balance of this Note and all accrued interest and other
charges due hereon at the Original Maturity Date, Holder shall have the right, at Holder’s sole option and discretion, to extend the term of the Loan for an additional period of five (5) years (the “Extension Term”). If
Holder elects to extend the term of the Loan, Maker shall pay all fees of Holder incurred in connection with such extension, including, but not limited to, attorneys’ fees and title insurance premiums. Maker shall execute all documents
reasonably requested by Holder to evidence and secure the Loan, as extended, and shall obtain and provide to Holder any title insurance policy or endorsement requested by Holder. 
 (b) Should Holder elect to extend the term of the Loan as provided above, Holder shall (i) reset the interest rate borne by the then-existing
principal balance of the Loan to a rate per annum (the “New Rate”) equal to the greater of (A) the Original Interest Rate, or (B) Holder’s (or comparable lenders’, if Holder is no longer making such loans)
then-prevailing interest rate for five (5) year loans secured by properties similar to the Property (hereinafter defined), as determined by Holder in its sole discretion; (ii) re-amortize the then-existing principal balance of the
Loan over a thirty (30) year amortization period (the “New Amortization Period”); (iii) have the right to require Maker to enter into modifications of the non-economic terms of the Loan Documents as Holder may request (the
“Non-Economic Modifications”); and (iv) notwithstanding any provision set forth in the Loan Documents to the contrary, have the right to require Maker to make monthly payments into escrow for insurance premiums and real property
taxes, assessments and similar governmental charges. Hence, monthly principal and interest payments during the Extension Term shall be based upon the New Rate, and calculated to fully amortize the outstanding principal balance of the Loan over the
New Amortization Period. 
 (c) If Holder elects to extend the term of the Loan, Holder shall advise Maker of the New Rate within
fifteen (15) days following the Original Maturity Date. 
 (d) In addition to the required monthly payments of principal and
interest set forth above, commencing on the first day of the second month following the Original Maturity Date and continuing on the first day of each month thereafter during the Extension Term (each an “Additional Payment Date”), Maker
shall make monthly payments to Holder in an amount equal to all Net Operating Income (hereinafter defined) attributable to the Property for the calendar month ending on the last day of the month that is two months preceding each such Additional
Payment Date. For example, assuming the Original Maturity Date is January 1, then Net Operating Income for the period from January 1 through January 31 shall be payable to Holder on March 1; Net Operating Income for the period
from February 1 through February 28 shall be payable to Holder on April 1, and so on. 
 (e) Holder shall deposit all such
Net Operating Income received from Maker into an account or accounts maintained at a financial institution chosen by Holder or its servicer in its sole discretion (the “Deposit Account”) and all such funds shall be invested in a manner
acceptable to Holder in its sole discretion. All interest, dividends and earnings credited to the Deposit Account shall be held and applied in accordance with the terms hereof. 
  

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 (f) On the third Additional Payment Date and on each third Additional Payment Date thereafter, Holder
shall apply all Excess Funds (hereinafter defined), if any, to prepayment of amounts due under this Note, without premium or penalty. 
 (g)
As security for the repayment of the Loan and the performance of all other obligations of Maker under the Loan Documents, Maker hereby assigns, pledges, conveys, delivers, transfers and grants to Holder a first priority security interest in and to:
all Maker’s right, title and interest in and to the Deposit Account; all rights to payment from the Deposit Account and the money deposited therein or credited thereto (whether then due or in the future due and whether then or in the future on
deposit); all interest thereon; any certificates, instruments and securities, if any, representing the Deposit Account; all claims, demands, general intangibles, choses in action and other rights or interests of Maker in respect of the Deposit
Account; any monies then or at any time thereafter deposited therein; any increases, renewals, extensions, substitutions and replacements thereof; and all proceeds of the foregoing. 
 (h) From time to time, but not more frequently than monthly, Maker may request a disbursement (a “Disbursement”) from the Deposit Account for
capital expenses, tenant improvement expenses, leasing commissions and special contingency expenses. Holder may consent to or deny any such Disbursement in its sole discretion. 
 (i) Upon the occurrence of any Event of Default (hereinafter defined) (i) Maker shall not be entitled to any further Disbursement from the Deposit
Account; and (ii) Holder shall be entitled to take immediate possession and control of the Deposit Account (and all funds contained therein) and to pursue all of its rights and remedies available to Holder under the Loan Documents, at law and
in equity. 
 (j) All of the terms and conditions of the Loan shall apply during the Extension Term, except as expressly set forth above,
and except that no further extensions of the Loan shall be permitted. 
 (k) For the purposes of the foregoing: 
 (i) “Excess Funds” shall mean, on any Additional Payment Date, the amount of funds then existing in the Deposit Account
(including any Net Operating Income due on the applicable Additional Payment Date), less an amount equal to the sum of three regularly scheduled payments of principal and interest due on this Note; 
 (ii) “Net Operating Income” shall mean, for any particular period of time, Gross Revenue for the relevant period, less
Operating Expenses for the relevant period; provided, however, that if such amount is equal to or less than zero (0), Net Operating Income shall equal zero (0); 
 (iii) “Gross Revenue” shall mean all payments and other revenues (exclusive, however, of any payments attributable to sales
taxes) received by or 

  

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on behalf of Maker from all sources related to the ownership or operation of the Property, including, but not limited to, rents, room charges, parking fees,
interest, security deposits (unless required to be held in a segregated account), business interruption insurance proceeds, operating expense pass-through revenues and common area maintenance charges, for the relevant period for which the
calculation of Gross Revenue is being made; and 
 (iv) “Operating Expenses” shall mean the sum of all ordinary and
necessary operating expenses actually paid by Maker in connection with the operation of the Property during the relevant period for which the calculation of Operating Expenses is being made, including, but not limited to, (a) payments made by
Maker for taxes and insurance required under the Loan Documents, and (b) monthly debt service payments as required under this Note. 
 3. Budgets During Extension Term. Subject to the provisions of Section 30 hereof: 
 (a) Within
fifteen (15) days following the Original Maturity Date and on or before December 1 of each subsequent calendar year, Maker shall deliver to Holder a proposed revenue and expense budget for the Property for the remainder of the
calendar year in which the Original Maturity Date occurs or the immediately succeeding calendar year (as applicable). Such budget shall set forth Maker’s projection of Gross Revenue and Operating Expenses for the applicable calendar year, which
shall be subject to Holder’s reasonable approval. Once a proposed budget has been reviewed and approved by Holder, and Maker has made all revisions requested by Holder, if any, the revised budget shall be delivered to Holder and shall
thereafter become the budget for the Property hereunder (the “Budget”) for the applicable calendar year. If Maker and Holder are unable to agree upon a Budget for any calendar year, the budgeted Operating Expenses (excluding extraordinary
items) provided in the Budget for the Property for the preceding calendar year shall be considered the Budget for the Property for the subject calendar year until Maker and Holder agree upon a new Budget for such calendar year. 
 (b) During the Extension Term, Maker shall operate the Property in accordance with the Budget for the applicable calendar year, and the total of
expenditures relating to the Property exceeding one hundred and five percent (105%) of the aggregate of such expenses set forth in the Budget for the applicable time period shall not be treated as Operating Expenses for the purposes of
calculating “Net Operating Income,” without the prior written consent of Holder except for emergency expenditures which, in the Maker’s good faith judgment, are reasonably necessary to protect, or avoid immediate danger to, life or
property. 
 4. Reports During Extension Term. Subject to the provisions of Section 30 hereof: 
 (a) During the Extension Term, Maker shall deliver to Holder all financial statements reasonably required by Holder to calculate Net Operating Income,
including, without limitation, a monthly statement to be delivered to Holder concurrently with Maker’s payment of Net Operating Income that sets forth the amount of Net Operating Income 

  

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accompanying such statement and Maker’s calculation of Net Operating Income for the relevant calendar month. Such statements shall be certified by an
executive officer of Maker or Maker’s manager, managing member or general partner (as applicable) as having been prepared in accordance with the terms hereof and to be true, accurate and complete in all material respects. 
 (b) In addition, on or before February 1 of each calendar year during the Extension Term, Maker shall submit to Holder an annual income and expense
statement for the Property which shall include the calculation of Gross Revenue, Operating Expenses and Net Operating Income for the preceding calendar year and shall be accompanied by Maker’s reconciliation of any difference between the actual
aggregate amount of the Net Operating Income for such calendar year and the aggregate amount of Net Operating Income for such calendar year actually remitted to Holder. All such statements shall be certified by an executive officer of Maker or
Maker’s manager, managing member or general partner (as applicable) as having been prepared in accordance with the terms hereof and to be true, accurate and complete in all material respects. If any such annual financial statement discloses any
inconsistency between the calculation of Net Operating Income and the amount of Net Operating Income actually remitted to Holder, Maker shall immediately remit to Holder the amount of any underpayment of Net Operating Income for such calendar year
or, in the event of an overpayment by Maker, such amount may be withheld from any subsequent payment of Net Operating Income required hereunder. 
 (c) Holder may notify Maker within ninety (90) days after receipt of any statement or report required hereunder that Holder disputes any computation or item contained in any portion of such statement or report. If Holder so
notifies Maker, Holder and Maker shall meet in good faith within twenty (20) days after Holder’s notice to Maker to resolve such disputed items. If, despite such good faith efforts, the parties are unable to resolve the dispute at
such meeting or within ten (10) days thereafter, the items shall be resolved by an independent certified public accountant designated by Holder within fifteen (15) days after such ten (10) day period. The determination
of such accountant shall be final. All fees of such accountant shall be paid by Maker. Maker shall remit to Holder any additional amount of Net Operating Income found to be due for such periods within ten (10) days after the resolution of
such dispute by the parties or the accountant’s determination, as applicable. The amount of any overpayment found to have been made for such periods may be withheld from any required future remittance of Net Operating Income. 
 (d) Maker shall at all times keep and maintain full and accurate books of account and records adequate to reflect correctly all items required in
order to calculate Net Operating Income. 
 5. Prepayment. 
 (a) Maker shall have no right to prepay all or any part of this Note before the date that is twelve (12) calendar months from and after the first
day immediately following the Stub Interest Period (the “Lockout Expiration Date”). 
 (b) At any time on or after the Lockout
Expiration Date, Maker shall have the right to prepay the full principal amount of this Note and all accrued but unpaid interest 

  

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hereon as of the date of prepayment, provided that (i) Maker gives not less than thirty (30) days’ prior written notice to Holder of
Maker’s election to prepay this Note, and (ii) Maker pays a prepayment premium to Holder equal to the greater of (A) one percent (1%) of the outstanding principal amount of this Note or (B) the Present Value of this
Note (hereinafter defined), less the amount of principal being prepaid, calculated as of the prepayment date. 
 (c) Holder shall notify
Maker of the amount and basis of determination of the prepayment premium. Holder shall not be obligated to accept any prepayment of the principal balance of this Note unless such prepayment is accompanied by the applicable prepayment premium and all
accrued interest and other sums due under this Note. 
 (d) Except as expressly provided in this Note, in no event shall Maker be permitted
to make any partial prepayments of this Note. 
 (e) If Holder accelerates this Note for any reason, then in addition to Maker’s
obligation to pay the then outstanding principal balance of this Note and all accrued but unpaid interest thereon, Maker shall pay an additional amount equal to the prepayment premium that would be due to Holder if Maker were voluntarily prepaying
this Note at the time that such acceleration occurred, or if under the terms hereof no voluntary prepayment would be permissible on the date of such acceleration, Maker shall pay a prepayment premium calculated as set forth in the Deed of Trust
(hereinafter defined). 
 (f) For the purposes of the foregoing: 
 (i) The “Present Value of this Note” with respect to any prepayment of this Note, as of any date, shall be determined by
discounting all scheduled payments of principal and interest remaining to maturity of this Note, attributed to the amount being prepaid, at the Discount Rate. If prepayment occurs on a date other than a regularly scheduled payment date, the actual
number of days remaining from the prepayment date to the next regularly scheduled payment date will be used to discount within such period; 
 (ii) The “Discount Rate” is the rate which, when compounded monthly, is equivalent to the Treasury Rate plus fifty (50) basis points, when compounded semi-annually; 
 (iii) The “Treasury Rate” is the semi-annual yield on the Treasury Constant Maturity Series with maturity equal to the
remaining weighted average life of this Note, for the week prior to the prepayment date, as reported in Federal Reserve Statistical Release H.15 - Selected Interest Rates, conclusively determined by Holder on the prepayment date. The rate
will be determined by linear interpolation between the yields reported in Release H.15, if necessary. In the event Release H.15 is no longer published, Holder shall select a comparable publication to determine the Treasury Rate.

 (g) Holder shall not be obligated actually to reinvest the amount prepaid in any treasury obligations as a condition precedent to
receiving any prepayment premium. 
  

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 (h) Notwithstanding the foregoing or anything stated to the contrary in this Note, (i) at any time
during the Extension Term, Maker shall have the right to prepay the full principal amount of this Note and all accrued but unpaid interest thereon as of the date of prepayment, without prepayment premium thereon, (ii) no prepayment premium
shall be due in connection with the application of any insurance proceeds or condemnation awards to the principal balance of this Note, as provided in the Deed of Trust, and (iii) Maker shall have the right to prepay the full principal amount
of this Note and all accrued but unpaid interest thereon as of the date of prepayment, without prepayment premium thereon at any time during the sixty (60) days prior to the Original Maturity Date. 
 6. Payments. Whenever any payment to be made under this Note shall be stated to be due on a Saturday, Sunday or public holiday or the equivalent
for banks generally under the laws of the State of Oregon (any other day being a “Business Day”), such payment may be made on the next succeeding Business Day. 
 7. Default Rate. 
 (a) The entire balance of principal, interest, and other sums due upon the
maturity hereof, by acceleration or otherwise, shall bear interest from the date due until paid at a per annum rate equal to five percent (5%) over the prime rate (for corporate loans at large United States money center
commercial banks) published in The Wall Street Journal on the first business day of each month (the “Default Rate”); provided, however, that such rate shall not exceed the maximum permitted by applicable state or federal law. In the
event The Wall Street Journal is no longer published or no longer publishes such prime rate, Holder shall select a comparable reference. 
 (b) If any payment under this Note is not made when due, interest shall accrue at the Default Rate from the date such payment was due until payment is actually made. 
 8. Late Charges. In addition to interest as set forth herein, Maker shall pay to Holder a late charge equal to four percent (4%) of any
amounts due under this Note in the event any such amount is not paid when due; provided, however, that Maker shall be permitted to make one (1) payment due under this Note within five (5) days following its due date in any consecutive
twelve (12) month period, without incurring a late charge. Such late charges shall only apply to the monthly payments due under this Note, and not to the amount due at maturity or upon acceleration. 
 9. Application of Payments. All payments hereunder shall be applied first to the payment of late charges, if any, then to the payment of
prepayment premiums, if any, then to the repayment of any sums advanced by Holder for the payment of any insurance premiums, taxes, assessments, or other charges against the property securing this Note (together with interest thereon at the Default
Rate from the date of advance until repaid), then to the payment of accrued and unpaid interest, and then to the reduction of principal. 
 10. Immediately Available Funds. Payments under this Note shall be payable in immediately available funds without setoff, counterclaim or deduction of any kind, and shall be made by electronic funds transfer from a bank account
established and maintained by Maker for such purpose. 
  

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 11. Security. This Note is secured by a Deed of Trust, Security Agreement, Fixture Filing,
Financing Statement and Assignment of Leases and Rents of even date herewith granted by Maker for the benefit of the named Holder hereof (the “Deed of Trust”) encumbering certain real property and improvements thereon located in Multnomah
County, Oregon, and as more particularly described in such Deed of Trust (the “Property”). 
 12. Certain Definitions.
Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Deed of Trust. 
 13. Event of
Default. Each of the following events will constitute an event of default (an “Event of Default”) under this Note and under the Deed of Trust and each other Loan Document, and any Event of Default under any Loan Document shall
constitute an Event of Default hereunder and under each of the other Loan Documents: 
 (a) any failure to pay when due any sum hereunder
within five (5) days after the date such payment becomes due; 
 (b) any failure of Maker to properly perform any obligation contained
herein or in any of the other Loan Documents (other than the obligation to make under this Note, or in any of the other Loan Documents, interest payments, scheduled payments, late charges or payments of other amounts which by their express terms
require immediate payments without any grace period) and the continuance of such failure for a period of thirty (30) days following written notice thereof from Holder to Maker; provided, however, that if such failure is not curable within
such thirty (30) day period, then, so long as Maker commences to cure such failure within such thirty (30) day period and is continually and diligently attempting to cure to completion, such failure shall not constitute an Event
of Default; or 
 (c) subject to the provisions of Section 30 hereof, if, at any time during the Extension Term, Gross Revenue for any
calendar month shall be less than ninety-three percent (93%) of the amount of projected Gross Revenue for such month set forth in the applicable Budget. 
 14. Acceleration. Upon the occurrence of any Event of Default, the entire balance of principal, accrued interest, and other sums owing hereunder shall, at the option of Holder, become at once due and payable
without notice or demand. Upon the occurrence of an Event of Default described in Section 13(c) hereof, Holder shall have the option, in its sole discretion, to either (a) exercise any remedies available to it under the Loan Documents, at
law or in equity, or (b) require Maker to submit a new proposed budget for Holder’s approval. If Holder agrees to accept such new proposed budget, then such budget shall become the Budget for all purposes hereunder. 
  

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 15. Conditions Precedent. Maker hereby certifies and declares that all acts, conditions and things
required to be done and performed and to have happened precedent to the creation and issuance of this Note, and to constitute this Note the legal, valid and binding obligation of Maker, enforceable in accordance with the terms hereof, have been done
and performed and happened in due and strict compliance with all applicable laws. 
 16. Certain Waivers and Consents. Maker and all
parties now or hereafter liable for the payment hereof, primarily or secondarily, directly or indirectly, and whether as endorser, guarantor, surety, or otherwise, hereby severally (a) waive presentment, demand, protest, notice of protest
and/or dishonor, and all other demands or notices (other than notices expressly provided for under the Loan Documents) of any sort whatever with respect to this Note, (b) consent to impairment or release of collateral, extensions of time for
payment, and acceptance of partial payments before, at, or after maturity, (c) waive any right to require Holder to proceed against any security for this Note before proceeding hereunder, (d) waive diligence in the collection of this Note
or in filing suit on this Note, and (e) agree to pay all costs and expenses, including reasonable attorneys’ fees, which may be incurred in the collection of this Note or any part thereof or in preserving, securing possession of, and
realizing upon any security for this Note, whether or not suit or action is filed, and if suit or action is filed, such attorneys’ fees shall be as fixed by the trial court or appellate court in the event of an appeal. 
 17. Usury Savings Clause. The provisions of this Note and of all agreements between Maker and Holder are, whether now existing or hereinafter
made, hereby expressly limited so that in no contingency or event whatever, whether by reason of acceleration of the maturity hereof, prepayment, demand for payment or otherwise, shall the amount paid, or agreed to be paid, to Holder for the use,
forbearance, or detention of the principal hereof or interest hereon, which remains unpaid from time to time, exceed the maximum amount permissible under applicable law, it particularly being the intention of the parties hereto to conform strictly
to Oregon and Federal law, whichever is applicable. If from any circumstance whatever, the performance or fulfillment of any provision hereof or of any other agreement between Maker and Holder shall, at the time performance or fulfillment of such
provision is due, involve or purport to require any payment in excess of the limits prescribed by law, then the obligation to be performed or fulfilled is hereby reduced to the limit of such validity, and if from any circumstance whatever Holder
should ever receive as interest an amount which would exceed the highest lawful rate, the amount which would be excessive interest shall be applied to the reduction of the principal balance owing hereunder (or, at Holder’s option, be paid over
to Maker) and shall not be counted as interest. To the extent permitted by applicable law, determination of the legal maximum amount of interest shall at all times be made by amortizing, prorating, allocating and spreading in equal parts during the
period of the full stated term of this Note, all interest at any time contracted for, charged, or received from Maker in connection with this Note and all other agreements between Maker and Holder, so that the actual rate of interest on account of
the indebtedness represented by this Note is uniform throughout the term hereof. 
 18. Non-Recourse; Exceptions to Non-Recourse. The
Loan will be non-recourse, except Maker (but not any of its constituent members, partners, shareholders, officers, directors, principals or employees) shall be liable for the amount of: 
  

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 (a) any loss, damage or cost resulting from (i) fraud or intentional misrepresentation by Maker in
connection with obtaining the Loan, (ii) insurance proceeds or condemnation awards attributable to the Property not applied in accordance with the provisions of the Deed of Trust, except to the extent that Maker did not have the legal right,
because of a bankruptcy, receivership or similar judicial proceeding, to direct disbursement of such sums or payments, (iii) the misappropriation or misapplication of rents, profits, issues, products and income of the Property received
following any Event of Default under this Note or any other Loan Document (including any received or collected by or on behalf of Maker after an Event of Default, except to the extent that Maker did not have the legal right, because of a bankruptcy,
receivership or similar judicial proceeding, to direct the disbursement of such sums), (iv) any act of intentional waste by Maker of the Property, (v) any breach by Maker of any covenant, agreement or representation and warranty relating
to hazardous materials, (vi) failure to pay property or other taxes, assessments or charges (other than amounts paid to Holder for taxes, assessments or payment of the taxes, assessments or charges pursuant to Holder’s impound requirements
and where Holder elects not to apply such impounds toward payment of the taxes, assessments or charges owed) when due to the extent that they create liens senior to the lien of the Deed of Trust on all or any portion of the Property, and
(vii) any execution, amendment, modification or termination of any lease without the prior written consent of Holder to the extent Holder’s consent is required under the Loan Documents; provided, however, the provisions of this clause
(vii) shall not be applicable or of any force or effect so long as KBS ADP Plaza, LLC is the borrower under the Loan. 
 (b) the Loan,
in the event of (i) a breach of the due on sale or further encumbrance prohibition set forth in Sections 5.4, 5.5 and 5.7 of the Deed of Trust, (ii) a voluntary bankruptcy filing or other similar voluntary event by Maker or in the
event of any involuntary bankruptcy filing or other similar involuntary event (other than one filed by Holder) against Maker or the Property which is not dismissed within ninety (90) days of filing, or (iii) any Event of Default resulting
from Maker’s breach of Maker’s obligations to remit to Holder reserves for taxes, insurance premiums or any other amounts required to be reserved pursuant to the Deed of Trust or any other Loan Document. 
 19. Permitted REIT Distributions. 
 (a) Except as otherwise expressly provided in this Section 19 and notwithstanding anything stated to the contrary in this Note or in any of the other Loan Documents (but subject to this Section 19), Maker shall under all
circumstances be entitled to receive income generated from the Property (including while an Event of Default may exist) to cover Permitted REIT Distributions (as such term is defined below), except that, while an Event of Default continues in
existence, Maker’s right to receive such income to cover Permitted REIT Distributions shall be conditioned upon: (i) the payment of accrued and unpaid interest under the Loan, and (ii) if such Event of Default is the failure to pay
principal on or after the Original Maturity Date (without any acceleration), the payment of such principal outstanding under the Loan. 
 (b) “Permitted REIT Distributions” shall mean, subject to the Distribution Conditions (defined below), distributions (directly or indirectly) by Maker to KBS Real Estate Investment Trust, Inc. (the “REIT”) (which
indirectly owns 100% of Maker) to the extent that, if not distributed to the REIT: 
 (i) the REIT would, as the result of
the failure of Maker to receive cash from the Property, be unable to distribute all REIT taxable income with respect to the Property, or 
  

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 (ii) the REIT would, as a result of the failure of Maker to receive cash from the
Property, fail to satisfy its obligations to pay REIT Operating Expenses (as such term is defined below). 
 (c) Maker’s right to
receive income generated from the Property in an amount (the “Permitted REIT Distribution Cash Flow”) sufficient to enable Maker to make Permitted REIT Distributions shall be subject to the following terms and conditions (collectively, the
“Distribution Conditions”): 
 (i) at least fourteen (14) days prior to the end of the then current Projection
Period (as defined below), Maker shall deliver to Holder: (A) written notice setting forth an estimate of the REIT’s taxable income for the Property and the Permitted REIT Operating Expenses (the “REIT Distribution Notice”) for
the immediate succeeding period of no less than one fiscal quarter and no more than one fiscal year (each, a “Projection Period”), which REIT Distribution Notice shall also set forth the amount of Permitted REIT Distribution Cash Flow
needed to make Permitted REIT Distributions related to such Projection Period, and (B) written confirmation from Ernst & Young or another “Big 4” accounting firm that the estimate of the REIT’s taxable income
generated by the Property for the applicable Projection Period, as reflected in the REIT Distribution Notice, is a reasonable estimate of the same, all in form and substance reasonably acceptable to Holder. Such estimate shall be based on
(1) the REIT’s actual taxable income for the Property and the actual Permitted REIT Operating Expenses for the then current calendar year and (2) the REIT’s projected taxable income for the Property and the projected REIT
Operating Expenses for the remainder of such calendar year. 
 (ii) Within thirty (30) days following the end of each
fiscal quarter, Maker shall deliver to Holder a statement of the REIT’s best estimate of its taxable income for the Property (together with the REIT’s calculation thereof) and the actual REIT Operating Expenses for the immediately ended
fiscal quarter, and within thirty (30) days following the date that the REIT’s tax returns are filed for any fiscal year, Maker shall deliver to Holder a statement of the REIT’s actual taxable income for the Property for such fiscal
year together with evidence supporting such statement, and (A) if the Permitted REIT Distribution Cash Flow actually received by Maker for such fiscal quarter or fiscal year, as applicable, exceeded the actual cash needed to enable Maker to
make its Permitted REIT Distributions for such fiscal quarter or fiscal year, as applicable, the estimate of the Permitted REIT Distribution Cash Flow for the immediately succeeding fiscal quarter shall be adjusted to reduce the estimated amount of
the Permitted REIT Distribution Cash Flow by the amount of such excess, and (B) if the Permitted REIT Distribution Cash Flow actually received by Maker for such fiscal 

  

 12 

 
quarter or fiscal year, as applicable, was less than the actual cash needed to enable Maker to make its Permitted REIT Distributions during such fiscal
quarter or fiscal year, as applicable, the estimate of the Permitted REIT Distribution Cash Flow for the immediately succeeding fiscal quarter shall be adjusted to increase the estimated amount of the Permitted REIT Distribution Cash Flow by the
amount of such shortfall. 
 (iii) Notwithstanding anything stated to the contrary in this Note or in any of the other Loan
Documents, Holder acknowledges and agrees that, at all times prior to the Original Maturity Date, the funding of all reserves and other amounts are expressly subject to the provisions permitting disbursement to Maker of Permitted REIT Distributions
as provided herein. 
 (d) Notwithstanding anything to the contrary in this Note or elsewhere in the Loan Documents, Maker shall have no
right to receive Permitted REIT Distribution Cash Flow prior to Holder’s receipt of debt service, principal and any and all other amounts due under the Loan from and after the occurrence of any assumption of the Loan pursuant to
Section 5.4 of the Deed of Trust. 
 (e) As used in this Note: 
 (i) “REIT Operating Expenses” shall mean the Allocated Share (as defined below) of all actual costs, expenses and/or amounts
incurred by, or payable or reimbursable by, the REIT or the REIT Operating Partnership (as such term is defined below) for any of the following: (A) charges and fees charged by banks, audit fees, tax preparation fees, legal fees, accounting
consulting fees related to emerging technical pronouncements, tax consulting fees relating to REIT issues, due diligence costs and fees arising from state and local taxes, fees and expenses incurred in connection with annual corporate filings, and
local, state and federal income taxes, and (B) professional fees related to corporate structuring and/or filings, consulting fees and filing fees arising from SEC reporting requirements including, without limitation, 10K filings, 10Q filings,
and 8k filings, consulting fees and other fees and costs related to Sarbanes-Oxley 404 compliance requirements. 
 (ii)
“Allocated Share” shall mean at any time, and from time to time, an amount expressed as a percentage that is calculated by dividing the cost basis of the Property by the cost basis of all real property owned directly or indirectly by the
REIT or the REIT Operating Partnership. 
 (iii) “REIT Operating Partnership” shall mean KBS Limited Partnership, a
Delaware limited partnership. 
 20. Intentionally Deleted. 
 21. Severability. If any provision hereof or of any other document securing or related to the indebtedness evidenced hereby is, for any reason and
to any extent, invalid or unenforceable, then neither the remainder of the document in which such provision is contained, nor the application of the provision to other persons, entities, or circumstances, nor any other document referred to herein,
shall be affected thereby, but instead shall be enforceable to the maximum extent permitted by law. 
  

 13 

 22. Transfer of Note. Each provision of this Note shall be and remain in full force and effect
notwithstanding any negotiation or transfer hereof and any interest herein to any other Holder or participant. 
 23. Governing Law.
Regardless of the place of its execution, this Note shall be construed and enforced in accordance with the laws of the State of Oregon. 
 24. Time of Essence. Time is of the essence with respect to all of Maker’s obligations under this Note. 
 25.
Remedies Cumulative. The remedies provided to Holder in this Note, the Deed of Trust and the other Loan Documents are cumulative and concurrent and may be exercised singly, successively or together against Maker, the Property, and other
security, or any guarantor of this Note, at the sole and absolute discretion of the Holder. 
 26. No Waiver. Holder shall not by any
act or omission be deemed to waive any of its rights or remedies hereunder unless such waiver is in writing and signed by the Holder and then only to the extent specifically set forth therein. A waiver of one event shall not be construed as
continuing or as a bar to or waiver of any right or remedy granted to Holder hereunder in connection with a subsequent event. 
 27. Joint
and Several Obligation. If Maker is more than one person or entity, then (a) all persons or entities comprising Maker are jointly and severally liable for all of the Maker’s obligations hereunder; (b) all representations,
warranties, and covenants made by Maker shall be deemed representations, warranties, and covenants of each of the persons or entities comprising Maker; (c) any breach, Default or Event of Default by any of the persons or entities comprising
Maker hereunder shall be deemed to be a breach, Default, or Event of Default of Maker; and (d) any reference herein contained to the knowledge or awareness of Maker shall mean the knowledge or awareness of any of the persons or entities
comprising Maker. Holder acknowledges that, as of the date of this Note, Maker consists only of KBS ADP Plaza, LLC. 
 28. WAIVER OF JURY
TRIAL. MAKER AND HOLDER KNOWINGLY, IRREVOCABLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY RIGHT EITHER MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY ACTION, PROCEEDING OR COUNTERCLAIM BASED ON THIS NOTE, OR ARISING OUT OF, UNDER OR IN CONNECTION
WITH THIS NOTE, THE DEED OF TRUST, OR ANY OTHER LOAN DOCUMENTS OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENT (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY HERETO OR TO ANY LOAN DOCUMENT. THIS PROVISION IS A MATERIAL INDUCEMENT FOR
MAKER AND HOLDER TO ENTER INTO THE LOAN. 
 29. WAIVER OF PREPAYMENT RIGHT WITHOUT PREMIUM. MAKER HEREBY EXPRESSLY WAIVES ANY RIGHT IT
MAY HAVE UNDER APPLICABLE LAW TO PREPAY THIS NOTE, IN WHOLE OR IN PART, WITHOUT PREPAYMENT PREMIUM, UPON ACCELERATION OF THE ORIGINAL MATURITY DATE OF THIS 

  

 14 

 
NOTE, AND AGREES THAT, IF FOR ANY REASON A PREPAYMENT OF ALL OR ANY PART OF THIS NOTE IS MADE, WHETHER VOLUNTARILY OR FOLLOWING ANY ACCELERATION OF THE
ORIGINAL MATURITY DATE OF THIS NOTE BY HOLDER ON ACCOUNT OF THE OCCURRENCE OF ANY EVENT OF DEFAULT ARISING FOR ANY REASON, INCLUDING, WITHOUT LIMITATION, AS A RESULT OF ANY PROHIBITED OR RESTRICTED TRANSFER, FURTHER ENCUMBRANCE OR DISPOSITION OF THE
PROPERTY OR ANY PART THEREOF SECURING THIS NOTE, THEN MAKER SHALL BE OBLIGATED TO PAY, CONCURRENTLY WITH SUCH PREPAYMENT, THE PREPAYMENT PREMIUM PROVIDED FOR IN THIS NOTE OR, IN THE EVENT OF PREPAYMENT FOLLOWING ACCELERATION OF THE ORIGINAL MATURITY
DATE HEREOF WHEN THIS NOTE IS CLOSED TO PREPAYMENT, AS PROVIDED IN THE DEED OF TRUST. MAKER HEREBY DECLARES THAT HOLDER’S AGREEMENT TO MAKE THE LOAN AT THE INTEREST RATE AND FOR THE TERM SET FORTH IN THIS NOTE CONSTITUTES ADEQUATE
CONSIDERATION, GIVEN INDIVIDUAL WEIGHT BY MAKER, FOR THIS WAIVER AND AGREEMENT. 
 30. Applicability of Certain Provisions After Loan
Assumption. Notwithstanding anything to the contrary set forth in this Note: 
 (a) the provisions of Sections 2, 3, and 4 of this
Note shall be inapplicable and of no force and effect with respect to the named Maker hereof, but shall become applicable and remain in full force and effect immediately upon and after any permitted assumption of the Loan made pursuant to
Section 5.4 of the Deed of Trust; and 
 (b) the provisions of Section 19 of this Note shall apply only to the named Maker hereof
and shall become inapplicable and of no further force and effect immediately upon and after any permitted assumption of the Loan made pursuant to Section 5.4 of the Deed of Trust. 
 31. Secondary Market Transactions. Holder shall have the right at any time: (a) to participate, syndicate or securitize all or any portion of
its interest in the Loan, (b) to cause the Loan to be split into senior and one or more junior or mezzanine Loans in whatever proportion Holder deems appropriate (which Loans may be secured by mortgages, deeds of trust and/or a pledge of direct
or indirect partnership or membership interests in Maker), and (c) to create one or more senior and subordinate notes (i.e., an A/B or A/B/C structure) or multiple components of such note or notes, and thereafter to sell, assign, participate,
syndicate or securitize all or any part of any variant of the Loan (any of the foregoing, a “Secondary Market Transaction”). Maker shall cooperate with Holder to facilitate any Secondary Market Transaction and the rating of the Loan (or
any resulting variant thereof) and of each securitization in which one or more Loans are included; provided that Maker shall not be required to (i) incur any out-of-pocket expense in connection therewith unless Holder agrees to pay for such
out-of-pocket expenses as they are incurred by Maker, (ii) agree to a modification of any Loan document, or (iii) take any actions that would impose a significant burden on Maker, including, without limitation, requesting executives of
Maker or other executives of entities holding an interest (direct or indirect) in Maker to participate in any form of presentation regarding the Property or the Loans. Maker’s cooperation obligation shall continue until the Loan has been sold
through a Secondary Market Transaction. 
  

 15 

 32. Limitation on Liability. Under no circumstances shall any of Maker’s constituent members
or partners (or any of their respective constituent partners and/or members) have any personal liability for the payment or performance of any of Maker’s obligations under this Note, the Deed of Trust or any other Loan Document. 
 33. Bankruptcy. Maker hereby agrees that, notwithstanding ORS §§ 73.0602 and 73.0604, any payment under this Note which is avoided
in a later bankruptcy proceeding or otherwise shall not be deemed a payment, and Maker’s obligations under this Note shall be reinstated and/or supplemented to the extent of any payment so avoided. In such event, Maker shall not be discharged
even if this Note has been cancelled, renounced or surrendered. 
 34. Agreement in Writing. Under Oregon law, most agreements,
promises and commitments made by Holder concerning loans and other credit extensions which are not for personal, family or household purposes or secured solely by Maker’s residence must be in writing, express consideration and be signed by
Holder to be enforceable. 
 [Balance of Page Intentionally Left Blank] 
  

 16 

 IN WITNESS WHEREOF and intending to be legally bound, Maker has duly executed this Note as of the date
first above written. 
  

											
	MAKER:
	
	 KBS ADP PLAZA, LLC,
 a Delaware limited
liability company

		
	By:	 	KBS REIT Acquisition XXV, LLC, a Delaware limited liability company, its sole member
			
		 	By:	 	KBS REIT Properties, LLC, a Delaware limited liability company, its sole member
				
		 		 	By:	 	KBS Limited Partnership, a Delaware limited partnership, its sole member
					
		 		 		 	By:	 	KBS Real Estate Investment Trust, Inc., a Maryland corporation, general partner
						
		 		 		 		 	By:	 	 /s/ Charles J. Schreiber, Jr.

		 		 		 		 		 	Charles J. Schreiber, Jr.
		 		 		 		 		 	Chief Executive OfficerDeed of Trust (relating to the financing of ADP Plaza)

 Exhibit 10.66 
 Recording requested by: 
 And when recorded mail to: 
 Otten, Johnson, Robinson, 
 Neff & Ragonetti, P.C. 
 950 Seventeenth Street 
 Suite 1600 
 Denver, Colorado 80202 
 Attention: Cara D. Hinshaw, Esq. 

 Tax Account Nos. R272228 and R128925 
  

 DEED OF TRUST, SECURITY AGREEMENT, FIXTURE FILING, FINANCING 
 STATEMENT AND ASSIGNMENT OF LEASES AND RENTS 
 THIS DEED OF TRUST, SECURITY AGREEMENT, FIXTURE FILING, FINANCING STATEMENT AND ASSIGNMENT OF LEASES AND RENTS (this “Deed of Trust”) is given as of November 7, 2007, by KBS ADP PLAZA, LLC, a Delaware
limited liability company (“Grantor”), to CHICAGO TITLE INSURANCE COMPANY OF OREGON (“Trustee”), for the use and benefit of AMERICAN GENERAL LIFE INSURANCE COMPANY, a Texas corporation (“Beneficiary”). 
 Article 1 
 PARTIES, PROPERTY,
AND DEFINITIONS 
 The following terms and references shall have the meanings indicated: 
 1.1 Beneficiary: The Beneficiary named in the introductory paragraph of this Deed of Trust, whose legal address is c/o AIG Global
Investment Corp., 1 SunAmerica Center, 38th Floor, Century City, Los Angeles, California 90067-6022, together with any future holder of the Note. 
 1.2 Chattels: All goods, fixtures, inventory, equipment, building and other materials, supplies, and other tangible personal property of every nature, whether now owned or hereafter acquired by Grantor, used,
intended for use, or reasonably required in the construction, development, or operation of the Property, together with all accessions thereto, replacements and substitutions therefor, and proceeds thereof. 
 1.3 Default: Any matter which, with the giving of notice, passage of time, or both, would constitute an Event of Default. 

 1.4 Environmental Assessment: The Phase I Environmental Site Assessment dated July 24,
2007 prepared by URS Corporation for the benefit of Beneficiary. 
 1.5 Environmental Claims: Any and all administrative, regulatory
or judicial actions, suits, demands, demand letters, claims, liens, notices of non-compliance or violation, investigations or proceedings relating in any way to any Environmental Law (hereafter “Claims”) or any permit issued under any such
Environmental Law, including without limitation (a) any and all Claims by governmental or regulatory authorities for enforcement, cleanup, removal, response, remedial or other actions or damages pursuant to any applicable Environmental Law, and
(b) any and all Claims by any third party seeking damages, contribution, indemnification, cost recovery, compensation or injunctive relief resulting from Hazardous Substances or arising from alleged injury or threat of injury to health, safety
or the environment. 
 1.6 Environmental Law: Any federal, state or local law, whether common law, court or administrative decision,
statute, rule, regulation, ordinance, court order or decree, or administrative order or any administrative policy or guidelines concerning action levels of a governmental authority (federal, state or local) now or hereafter in effect relating to the
environment, public health, occupational safety, industrial hygiene, any Hazardous Substance (including, without limitation, the disposal, generation, manufacture, presence, processing, production, Release, storage, transportation, treatment or use
thereof), or the environmental conditions on, under or about the Property, as amended and as in effect from time to time (including, without limitation, the following statutes and all regulations thereunder as amended and in effect from time to
time: the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended, 42 U.S.C. §§ 9601, et seq.; the Superfund Amendments and Reauthorization Act of 1986, Title III, 42 U.S.C.
§§ 11001, et seq.; the Clean Air Act, 42 U.S.C. §§ 7401, et seq.; the Safe Drinking Water Act, 42 U.S.C. §§ 300(f), et seq.; the Solid Waste Disposal Act, 42 U.S.C.
§§ 6901, et seq.; the Hazardous Materials Transportation Act, as amended, 49 U.S.C. §§ 5101, et seq.; the Resource Conservation and Recovery Act, as amended, 42 U.S.C. §§ 6901, et
seq.; the Federal Water Pollution Control Act, as amended, 33 U.S.C. §§ 1251, et seq.; the Toxic Substances Control Act of 1976, 15 U.S.C. §§ 2601, et seq.; the Occupational Safety and Health Act, 29
U.S.C. §§ 651, et seq.; and any successor statutes and regulations to the foregoing). 
 1.7 ERISA: The Employee
Retirement Income Security Act of 1974, as amended, together with all rules and regulations issued thereunder. 
 1.8 Event of
Default: As defined in Article 6. 
 1.9 Grantor: The Grantor named in the introductory paragraph of this Deed of Trust
(Taxpayer I.D. No. 26-0607144; Organizational I.D. No. 4395424), whose legal address is c/o KBS Capital Advisors LLC, 620 Newport Center Drive, Suite 1300, Newport Beach, California 92660, together with any future owner
of the Property or any part thereof or interest therein. 
 1.10 Hazardous Substances: Collectively, (a) any chemicals, materials
or substances defined as or included in the definition of “hazardous substances,” “hazardous 

  

 2 

 
wastes,” “hazardous materials,” “extremely hazardous wastes,” “restricted hazardous wastes,” “toxic substances,”
“toxic pollutants,” “contaminants” or “pollutants,” or words of similar import, under any applicable Environmental Law; and (b) any other chemical, material or substance, exposure to which is prohibited, limited or
regulated by any governmental authority, including, without limitation, asbestos and asbestos-containing materials in any form, lead-based paint, any radioactive materials and polychlorinated biphenyls (“PCBs”), or substances or compounds
containing PCBs. 
 1.11 Indemnitees: Collectively, Beneficiary and Beneficiary’s officers, directors, employees, agents,
affiliates, successors and assigns. 
 1.12 Insurance Agreement: The Agreement Concerning Insurance Requirements of even date herewith
executed by Grantor for the benefit of Beneficiary. 
 1.13 Intangible Personalty: The right to use all trademarks and trade names and
symbols or logos used in connection therewith, or any modifications or variations thereof, in connection with the operation of the improvements existing or to be constructed on the Property, together with all accounts, deposit accounts, letter of
credit rights, investment property, monies in the possession of Beneficiary (including, without limitation, proceeds from insurance, retainages and deposits for taxes and insurance), Permits, contract rights (including, without limitation, rights to
receive insurance proceeds) and general intangibles (whether now owned or hereafter acquired, and including proceeds thereof) relating to or arising from Grantor’s ownership, use, operation, leasing, or sale of all or any part of the Property,
specifically including but in no way limited to any right which Grantor may have or acquire to transfer any development rights from the Property to other real property, and any development rights which may be so transferred. 
 1.14 Lease Certificate: The Certificate Concerning Leases and Financial Condition of even date herewith made by Grantor to Beneficiary concerning
Leases of the Property. 
 1.15 Leases: Any and all leases, subleases and other agreements under the terms of which any person other
than Grantor has or acquires any right to occupy or use the Property, or any part thereof. 
 1.16 Loan: The loan from Beneficiary to
Grantor evidenced by the Note. 
 1.17 Loan Application: The Summary of Loan Terms executed as of July 31, 2007 on behalf of
Grantor and Beneficiary with respect to the Loan. 
 1.18 Loan Documents: The Note, all of the deeds of trust, mortgages and other
instruments and documents securing or executed and delivered in connection with the Note, including this Deed of Trust, the Reserve Agreement, the TI/LC Guaranty, the TI/LC Reserve Agreement, the Insurance Agreement, the Lease Certificate and each
other document executed or delivered in connection with the transaction pursuant to which the Note has been executed and delivered. The term “Loan Documents” also includes all modifications, extensions, renewals, and replacements of each
document referred to above. 
  

 3 

 1.19 Material Adverse Effect: The occurrence or existence of a condition or event which would have
a material adverse effect on (a) the business, profits, operations or financial condition of Grantor, (b) the ability of Grantor to pay any amounts under the Loan Documents as they become due, or (c) the value of the Property.

 1.20 Note: Grantor’s Amended and Restated Promissory Note of even date herewith, payable to the order of Beneficiary in the
principal face amount of $20,900,000.00, the last payment under which is due on October 1, 2013, or, if extended by Beneficiary pursuant to its terms, October 1, 2018, unless such due date is accelerated, together with all renewals,
extensions and modifications of such promissory note. All terms and provisions of the Note are incorporated by this reference in this Deed of Trust. 
 1.21 Permits: All permits, licenses, certificates and authorizations necessary for the beneficial development, ownership, use, occupancy, operation and maintenance of the Property. 
 1.22 Permitted Exceptions: The matters (excluding matters of survey) set forth in Schedule B-I of the title insurance policy insuring the
lien created by this Deed of Trust, in form and substance satisfactory to, and accepted by, Beneficiary, that Grantor has caused to be delivered to Beneficiary in connection with the Loan. 
 1.23 Property: The tract or tracts of land described in Exhibit A attached, together with the following: 
 (a) All buildings, structures, and improvements now or hereafter located on such tract or tracts, as well as all rights-of-way, easements, and other
appurtenances thereto; 
 (b) Any land lying between the boundaries of such tract or tracts and the center line of any adjacent street,
road, avenue, or alley, whether opened or proposed; 
 (c) All of the rents, income, receipts, revenues, issues and profits of and from such
tract or tracts and improvements; 
 (d) All (i) water and water rights (whether decreed or undecreed, tributary, nontributary or not
nontributary, surface or underground, or appropriated or unappropriated); (ii) ditches and ditch rights; (iii) spring and spring rights; (iv) reservoir and reservoir rights; and (v) shares of stock in water, ditch and canal
companies and all other evidence of such rights, which are now owned or hereafter acquired by Grantor and which are appurtenant to or which have been used in connection with such tract or tracts or improvements; 
 (e) All minerals, crops, timber, trees, shrubs, flowers, and landscaping features now or hereafter located on, under or above such tract or tracts;

 (f) All machinery, apparatus, equipment, fittings, fixtures (whether actually or constructively attached, and including all trade,
domestic, and ornamental fixtures) now or hereafter located in, upon, or under such tract or tracts or improvements and used or usable in connection with any present or future operation thereof, including but not limited to all 

  

 4 

 
heating, air-conditioning, freezing, lighting, laundry, incinerating and power equipment; engines; pipes; pumps; tanks; motors; conduits; switchboards;
plumbing, lifting, cleaning, fire prevention, fire extinguishing, refrigerating, ventilating, cooking, and communications apparatus; boilers, water heaters, ranges, furnaces, and burners; appliances; vacuum cleaning systems; elevators; escalators;
shades; awnings; screens; storm doors and windows; stoves; refrigerators; attached cabinets; partitions; ducts and compressors; rugs and carpets; draperies; and all additions thereto and replacements therefor; 
 (g) All development rights associated with such tract or tracts, whether previously or subsequently transferred to such tract or tracts from other real
property or now or hereafter susceptible of transfer from such tract or tracts to other real property; 
 (h) All awards and payments,
including interest thereon, resulting from the exercise of any right of eminent domain or any other public or private taking of, injury to, or decrease in the value of, any of such property; and 
 (i) All other and greater rights and interests of every nature in such tract or tracts and in the possession or use thereof and income therefrom,
whether now owned or subsequently acquired by Grantor. 
 1.24 Release: Disposing, discharging, injecting, spilling, leaking,
leaching, dumping, emitting, escaping, emptying, seeping, placing and the like, into or upon any land or water or air, or otherwise entering into the environment. 
 1.25 Reserve Agreement: The Reserve Agreement of even date herewith by and among Grantor, Beneficiary and the “Servicer” referenced therein. 
 1.26 Secured Obligations: All present and future obligations of Grantor to Beneficiary evidenced by or contained in the Note, this Deed of Trust
and all other Loan Documents, whether stated in the form of promises, covenants, representations, warranties, conditions, or prohibitions or in any other form, excluding, however, the provisions of Section 4.26 of this Deed of Trust. If the
maturity of the Note secured by this Deed of Trust is accelerated, the Secured Obligations shall include an amount equal to any prepayment fee or premium which would be payable under the terms of the Note as if the Note were prepaid in full on the
date of the acceleration. If under the terms of the Note no voluntary prepayment would be permissible on the date of such acceleration, then the prepayment fee or premium to be included in the Secured Obligations shall be equal to one hundred fifty
percent (150%) of the highest prepayment fee or premium set forth in the Note, calculated as of the date of such acceleration, as if prepayment were permitted on such date. 
 1.27 TI/LC Guaranty: The Tenant Improvements and Leasing Commissions Guaranty Agreement of even date herewith made by KBS REIT Properties, LLC, a
Delaware limited liability company, for the benefit of Beneficiary. 
 1.28 TI/LC Reserve Agreement: The Tenant Improvements and
Leasing Commissions Reserve Agreement of even date herewith by and among Grantor, Beneficiary and the “Servicer” referenced therein. 
  

 5 

 1.29 Trustee: The Trustee named in the introductory paragraph of this Deed of Trust, whose
address is 10135 SE Sunnyside Road, Suite 200, Clackamas, Oregon 97015. 
 Article 2 
 GRANTING CLAUSE 
 2.1 Grant to
Trustee. As security for the Secured Obligations, Grantor hereby grants, bargains, sells, warrants and conveys the Property to Trustee, in trust, with power of sale, for the use and benefit of Beneficiary, and subject to all provisions hereof.

 2.2 Security Interest to Beneficiary. As additional security for the Secured Obligations, Grantor hereby grants to Beneficiary a
security interest in the Property, Chattels and Intangible Personalty. To the extent any of the Property, Chattels or Intangible Personalty may be or have been acquired with funds advanced by Beneficiary under the Loan Documents, this security
interest is a purchase money security interest. This Deed of Trust constitutes a security agreement under the Uniform Commercial Code of the state in which the Property is located (the “Code”) with respect to any part of the Property,
Chattels and Intangible Personalty that may or might now or hereafter be or be deemed to be personal property, fixtures or property other than real estate (all collectively hereinafter called “Collateral”); all of the terms, provisions,
conditions and agreements contained in this Deed of Trust pertain and apply to the Collateral as fully and to the same extent as to any other property comprising the Property, and the following provisions of this Section shall not limit the
generality or applicability of any other provisions of this Deed of Trust but shall be in addition thereto: 
 (a) The Collateral shall be
used by Grantor solely for business purposes, and all Collateral (other than the Intangible Personalty) shall be installed upon the real estate comprising part of the Property for Grantor’s own use or as the equipment and furnishings furnished
by Grantor, as landlord, to tenants of the Property; 
 (b) The Collateral (other than the Intangible Personalty) shall be kept at the real
estate comprising a part of the Property, and shall not be removed therefrom without the consent of Beneficiary (being the Secured Party as that term is used in the Code); and the Collateral (other than the Intangible Personalty) may be affixed to
such real estate but shall not be affixed to any other real estate; 
 (c) No financing statement covering any of the Collateral or any
proceeds thereof is on file in any public office (except for financing statements that will be terminated concurrently with the recording of this Deed of Trust); and Grantor will, at its cost and expense, upon demand, furnish to Beneficiary such
further information and will execute and deliver to Beneficiary such financing statements and other documents in form satisfactory to Beneficiary and will do all such acts and things as Beneficiary may at any time or from time to time reasonably
request or as may be necessary or appropriate to establish and maintain a perfected first-priority security interest in the Collateral as security for the Secured Obligations, subject to no adverse liens or encumbrances; and Grantor will pay the
cost of filing the same or filing or recording such financing statements or other documents and this instrument in all public offices wherever filing or recording is deemed by Beneficiary to be necessary or desirable; 
  

 6 

 (d) The terms and provisions contained in this Section and in Section 7.6 of this Deed of
Trust shall, unless the context otherwise requires, have the meanings and be construed as provided in the Code; and 
 (e) This Deed of
Trust constitutes a financing statement under the Code with respect to the Collateral. As such, this Deed of Trust covers all items of the Collateral that are or are to become fixtures. The filing of this Deed of Trust in the real estate records of
the county where the Property is located shall also operate as a fixture filing in accordance with Section 79.0502 of the Code. Information concerning the security interests created hereby may be obtained from Beneficiary. Grantor is the
“Debtor” and Beneficiary is the “Secured Party” (as those terms are defined and used in the Code) insofar as this Deed of Trust constitutes a financing statement. 
 2.3 Environmental Provisions Not Secured. Notwithstanding any provision of this Deed of Trust or any other Loan Document, the obligations of
Grantor arising under Section 4.26 of this Deed of Trust are not, and shall not be, Secured Obligations under this Deed of Trust. 
 Article 3 
 GRANTOR’S REPRESENTATIONS AND WARRANTIES 
 3.1 Warranty of Title. Grantor represents and warrants to Beneficiary that: 
 (a) Grantor has good and marketable fee simple title to the Property, and such fee simple title is free and clear of all liens, encumbrances, security
interests and other claims whatsoever, subject only to the Permitted Exceptions; 
 (b) Grantor is the sole and absolute owner of the
Chattels and the Intangible Personalty, free and clear of all liens, encumbrances, security interests and other claims whatsoever, subject only to the Permitted Exceptions; 
 (c) This Deed of Trust is a valid and enforceable first lien and security interest on the Property, Chattels and Intangible Personalty, subject only to
the Permitted Exceptions; and 
 (d) Grantor, for itself and its successors and assigns, hereby agrees to warrant and forever defend, all
and singular, all of the Property and property interests granted and conveyed pursuant to this Deed of Trust, against every person whomsoever lawfully claiming, or to claim, the same or any part thereof; 
 The representations, warranties and covenants contained in this Section shall survive foreclosure of this Deed of Trust, and shall inure to the
benefit of Beneficiary. 
 3.2 Due Authorization. If Grantor is other than a natural person, then each individual who executes this
document on behalf of Grantor represents and warrants to Beneficiary that such execution has been duly authorized by all necessary corporate, partnership, limited liability company or other action on the part of Grantor. Grantor represents that
Grantor has obtained all consents and approvals required in connection with the execution, delivery and performance of this Deed of Trust. 
  

 7 

 3.3 Other Representations and Warranties. Grantor represents and warrants to Beneficiary as
follows: 
 (a) Grantor is a limited liability company, duly organized, validly existing and in good standing under the laws of the State of
Delaware. Grantor is duly authorized to transact business in and is in good standing under the laws of the State of Oregon; 
 (b) The
execution, delivery and performance by Grantor of the Loan Documents are within Grantor’s power and authority and have been duly authorized by all necessary action; 
 (c) This Deed of Trust is, and each other Loan Document to which Grantor is a party will, when delivered hereunder, be valid and binding obligations of Grantor enforceable against Grantor in accordance with their
respective terms, except as limited by equitable principles and bankruptcy, insolvency and similar laws affecting creditors’ rights; 
 (d) The execution, delivery and performance by Grantor of the Loan Documents will not contravene any contractual or other restriction binding on or affecting Grantor and will not result in or require the creation of any lien, security
interest, other charge or encumbrance (other than pursuant hereto) upon or with respect to any of its properties; 
 (e) The execution,
delivery and performance by Grantor of the Loan Documents does not contravene any applicable law; 
 (f) No authorization, approval, consent
or other action by, and no notice to or filing with, any court, governmental authority or regulatory body is required for the due execution, delivery and performance by Grantor of any of the Loan Documents or the effectiveness of any assignment of
any of Grantor’s rights and interests of any kind to Beneficiary; 
 (g) No part of the Property, Chattels, or Intangible Personalty is
in the hands of a receiver, no application for a receiver is pending with respect to any portion of the Property, Chattels, or Intangible Personalty, and no part of the Property, Chattels, or Intangible Personalty is subject to any foreclosure or
similar proceeding; 
 (h) Grantor has not made any assignment for the benefit of creditors, nor has Grantor filed, or had filed against it,
any petition in bankruptcy; 
 (i) There is no pending or, to the best of Grantor’s knowledge, threatened, litigation, action,
proceeding or investigation, including, without limitation, any condemnation proceeding, against Grantor or the Property before any court, governmental or quasi-governmental, arbitrator or other authority; 
  

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 (j) Grantor is a “non-foreign person” within the meaning of Sections 1445 and 7701 of the
United States Internal Revenue Code of 1986, as amended, and the regulations issued thereunder; 
 (k) Except as otherwise disclosed by the
survey made available by Grantor to Beneficiary, access to and egress from the Property are available and provided by public streets, and Grantor has no knowledge of any federal, state, county, municipal or other governmental plans to change the
highway or road system in the vicinity of the Property or to restrict or change access from any such highway or road to the Property; 
 (l)
All public utility services necessary for the operation of all improvements constituting part of the Property for their intended purposes are available at the boundaries of the land constituting part of the Property, including water supply, storm
and sanitary sewer facilities, and natural gas, electric, telephone and cable television facilities; 
 (m) Except as otherwise disclosed to
Beneficiary in writing prior to the date hereof, and to the best of Grantor’s knowledge, the Property is located in a zoning district that permits the development, use and operation of the Property as it is currently operated as a permitted,
and not as a non-conforming use. Except as otherwise disclosed to Beneficiary in writing prior to the date hereof, and to the best of Grantor’s knowledge, the Property complies in all respects with all zoning ordinances, regulations,
requirements, conditions and restrictions, including but not limited to deed restrictions and restrictive covenants, applicable to the Property; 
 (n) Except as otherwise disclosed to Beneficiary in writing prior to the date hereof, and to the best of Grantor’s knowledge, there are no special or other assessments for public improvements or otherwise now affecting the Property,
nor does Grantor know of any pending or threatened special assessments affecting the Property or any contemplated improvements affecting the Property that may result in special assessments. Except for the tax exceptions set forth in the lease to
Oregon Health & Science University, a qualifying tax-exempt organization under Oregon state law, there are no tax abatements or exceptions affecting the Property; 
 (o) Grantor has filed all tax returns it is required to have filed, and has paid all taxes as shown on such returns or on any assessment received
pertaining to the Property; 
 (p) Grantor has not received any notice from any governmental body having jurisdiction over the Property as
to any violation of any applicable law, or any notice from any insurance company or inspection or rating bureau setting forth any requirements as a condition to the continuation of any insurance coverage on or with respect to the Property or the
continuation thereof at premium rates existing at present which have not been remedied or satisfied; 
 (q) Grantor is not in default, in
any manner which would adversely affect its properties, assets, operations or condition (financial or otherwise), in the performance, observance or fulfillment of any of the obligations, covenants or conditions set forth in any agreement or
instrument to which it is a party or by which it or any of its properties, assets or revenues are bound; 
  

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 (r) Except as set forth in the Lease Certificate, there are no occupancy rights (written or oral),
Leases or tenancies presently affecting any part of the Property. The Lease Certificate contains a true and correct description of all Leases presently affecting the Property. No written or oral agreements or understandings exist between Grantor and
the tenants under the Leases described in the Lease Certificate that grant such tenants any rights greater than those described in the Lease Certificate or that are in any way inconsistent with the rights described in the Lease Certificate;

 (s) There are no options, purchase contracts or other similar agreements of any type (written or oral) presently affecting any part of
the Property; 
 (t) Except as otherwise disclosed to Beneficiary in writing prior to the date hereof, there exists no brokerage agreement
with respect to any part of the Property; 
 (u) Except as otherwise disclosed to Beneficiary in writing prior to the date hereof,
(i) there are no contracts presently affecting the Property (“Contracts”) having a term in excess of one hundred eighty (180) days or not terminable by Grantor (without penalty) on thirty (30) days’ notice;
(ii) Grantor has heretofore delivered to Beneficiary true and correct copies of each of the Contracts together with all amendments thereto; (iii) Grantor is not in default of any obligations under any of the Contracts; and (iv) the
Contracts represent the complete agreement between Grantor and such other parties as to the services to be performed or materials to be provided thereunder and the compensation to be paid for such services or materials, as applicable, and except as
otherwise disclosed herein, such other parties possess no unsatisfied claims against Grantor. Grantor is not in default under any of the Contracts and no event has occurred which, with the passing of time or the giving of notice, or both, would
constitute a default under any of the Contracts; 
 (v) To the best of Grantor’s knowledge, Grantor has obtained all Permits necessary
for the operation, use, ownership, development, occupancy and maintenance of the Property as an office complex, as it is currently being operated. To the best of Grantor’s knowledge, none of the Permits has been suspended or revoked, and all of
the Permits are in full force and effect, are fully paid for, and Grantor has made or will make application for renewals of any of the Permits prior to the expiration thereof; 
 (w) All insurance policies held by Grantor relating to or affecting the Property are in full force and effect and shall remain in full force and effect
until all Secured Obligations are satisfied. Grantor has not received any notice of default or notice terminating or threatening to terminate any such insurance policies. Grantor has made or will make application for renewals of any of such
insurance policies prior to the expiration thereof; 
 (x) Grantor either currently complies with or is not subject to ERISA. Neither the
making of the Loan nor the exercise by Beneficiary of any of its rights under the Loan Documents constitutes or will constitute a non-exempt, prohibited transaction under ERISA; 
  

 10 

 (y) Grantor’s exact legal name is correctly set out in the introductory paragraph of this Deed
of Trust. Grantor’s organizational identification number is correctly set forth in the definition of “Grantor” set forth in Article 1 hereof. Grantor’s location (as such term is used in Section 5.8 hereof) is the State
of Delaware; 
 (z) to the best of Grantor’s knowledge, except as disclosed in the Environmental Assessment, Hazardous Substances have
not at any time been generated, used, treated or stored on, or transported to or from the Property in any quantity or manner which violates any Environmental Law; 
 (aa) to the best of Grantor’s knowledge, except as disclosed in the Environmental Assessment, Hazardous Substances have not at any time been Released (hereinafter defined) or disposed of on the Property in any
quantity or manner which violates any Environmental Law; 
 (bb) to the best of Grantor’s knowledge, except as disclosed in the
Environmental Assessment, Grantor is in compliance with all applicable Environmental Laws with respect to the Property and the requirements of any permits issued under such Environmental Laws with respect to the Property; 
 (cc) to the best of Grantor’s knowledge, there are no past, pending or threatened Environmental Claims against Grantor or the Property; 

(dd) to the best of Grantor’s knowledge, except as disclosed in the Environmental Assessment, there is no condition or occurrence at the
Property that could reasonably be anticipated (i) to form the basis of any Environmental Claim against Grantor or the Property, or (ii) to cause the Property to be subject to any restrictions on the ownership, occupancy, use or
transferability thereof under any Environmental Law; and 
 (ee) to the best of Grantor’s knowledge, except as disclosed in the
Environmental Assessment, there are not now and never have been any underground storage tanks located on the Property. 
 3.4 Continuing
Effect. Grantor shall be liable to Beneficiary for any damage suffered by Beneficiary if any of the foregoing representations are inaccurate as of the date hereof, regardless when such inaccuracy may be discovered by, or result in harm to,
Beneficiary. Grantor further represents and warrants that the foregoing representations and warranties, as well as all other representations and warranties of Grantor to Beneficiary relative to the Loan Documents, shall survive termination of this
Deed of Trust. 
 Article 4 
 GRANTOR’S AFFIRMATIVE COVENANTS 
 4.1 Payment of Note. Grantor will pay all principal, interest, and other sums
payable under the Note, on the date when such payments are due, without notice or demand. 
  

 11 

 4.2 Performance of Other Obligations. Grantor will promptly and strictly perform and comply with
all other covenants, conditions, and prohibitions required of Grantor by the terms of the Loan Documents. 
 4.3 Other Encumbrances.
Grantor will promptly and strictly perform and comply with all covenants, conditions, and prohibitions required of Grantor in connection with any other encumbrance affecting the Property, the Chattels, or the Intangible Personalty, or any part
thereof, or any interest therein, regardless of whether such other encumbrance is superior or subordinate to the lien hereof. 
 4.4
Payment of Taxes. 
 (a) Property Taxes. Unless Grantor is depositing money into reserves pursuant to Section 4.4(b), Grantor
will (i) pay, before delinquency, all taxes and assessments, general or special, which may be levied or imposed at any time against Grantor’s interest and estate in the Property, the Chattels, or the Intangible Personalty, and
(ii) within ten days after each payment of any such tax or assessment, Grantor will deliver to Beneficiary, without notice or demand, an official receipt for such payment. At Beneficiary’s option, Beneficiary may retain the services of a
firm to monitor the payment of all taxes and assessments relating to the Property, the cost of which shall be borne by Grantor. 
 (b)
Deposit for Taxes. On or before the date hereof, Grantor shall deposit with Beneficiary an amount equal to 1/12th of the amount which Beneficiary estimates will be required to make the next annual payment of taxes, assessments, and similar
governmental charges referred to in this Section (collectively, the “Tax Reserves”), multiplied by the number of whole or partial months that have elapsed since the date one month prior to the most recent due date for such taxes,
assessments and similar governmental charges. Thereafter, with each monthly payment under the Note, Grantor shall deposit with Beneficiary an amount equal to 1/12th of the amount which Beneficiary estimates will be required to pay the next annual
payment of taxes, assessments, and similar governmental charges referred to in this Section. The purpose of these provisions is to provide Beneficiary with sufficient funds on hand to pay all such taxes, assessments, and other governmental charges
thirty (30) days before the date on which they become past due. If the Beneficiary, in its sole discretion, determines that the funds reserved hereunder are, or will be, insufficient, Grantor shall upon demand pay such additional sums as
Beneficiary shall determine necessary and shall pay any increased monthly charges requested by Beneficiary. Provided no Event of Default exists hereunder, Beneficiary will apply the amounts so deposited to the payment of such taxes, assessments, and
other charges when due, but in no event will Beneficiary be liable for any interest on any amount so deposited, and any amount so deposited may be held and commingled with Beneficiary’s own funds. Notwithstanding anything to the contrary in
this Section 4.4(b), the initial Grantor named herein shall only be required to deposit Tax Reserves with Beneficiary following the occurrence and during the continuance of any Event of Default. 
 (c) Intangible Taxes. If by reason of any statutory or constitutional amendment or judicial decision adopted or rendered after the date hereof,
any tax, assessment, or similar charge is imposed against the Note, against Beneficiary, or against any interest of Beneficiary in any real or personal property encumbered hereby, Grantor will pay such tax, 

  

 12 

 
assessment, or other charge before delinquency and will indemnify Beneficiary against all loss, expense, or diminution of income in connection therewith. In
the event Grantor is unable to do so, either for economic reasons or because the legal provisions or decisions creating such tax, assessment or charge forbid Grantor from doing so, then the Note will, at Beneficiary’s option, become due and
payable in full upon thirty (30) days’ notice to Grantor. 
 (d) Right to Contest. Notwithstanding any other provision of
this Section, Grantor will not be deemed to be in default solely by reason of Grantor’s failure to pay any tax, assessment or similar governmental charge so long as, in Beneficiary’s judgment, each of the following conditions is satisfied:

 (i) Grantor is engaged in and diligently pursuing in good faith administrative or judicial proceedings appropriate to contest the validity
or amount of such tax, assessment, or charge; and 
 (ii) Grantor’s payment of such tax, assessment, or charge would necessarily and
materially prejudice Grantor’s prospects for success in such proceedings; and 
 (iii) Nonpayment of such tax, assessment, or charge
will not result in the loss or forfeiture of any property encumbered hereby or any interest of Beneficiary therein; and 
 (iv) Grantor
deposits with Beneficiary, as security for such payment which may ultimately be required, a sum equal to the amount of the disputed tax, assessment or charge plus the interest, penalties, advertising charges, and other costs which Beneficiary
estimates are likely to become payable if Grantor’s contest is unsuccessful. 
 If Beneficiary determines that any one or more of such
conditions is not satisfied or is no longer satisfied, Grantor will pay the tax, assessment, or charge in question, together with any interest and penalties thereon, within fifteen (15) days after Beneficiary gives notice of such
determination. 
 4.5 Maintenance of Insurance. 
 (a) Coverages Required. Grantor shall maintain or cause to be maintained, with financially sound and reputable insurance companies or associations satisfactory to Beneficiary, all insurance required under the
terms of the Insurance Agreement, and shall comply with each and every covenant and agreement contained in the Insurance Agreement. In addition, unless otherwise approved by Beneficiary, Grantor shall maintain or cause to be maintained, with
financially sound and reputable insurance companies or associations satisfactory to Beneficiary, the same environmental insurance coverages, with Beneficiary named as an additional insured, as are in effect as of the date of this Deed of Trust.

 WARNING 
 Unless you
provide us with evidence of insurance coverage as required by our contract or loan agreement, we may purchase 

  

 13 

 
insurance at your expense to protect our interest, following written notice to you. This insurance may, but need not, also protect your interest. If the
collateral becomes damaged, the coverage we purchase may not pay any claim you make or any claim made against you. You may later cancel this coverage by providing evidence that you have obtained property coverage elsewhere. 
 You are responsible for the cost of any insurance purchased by us. The cost of this insurance may be added to your contract or loan balance. If the cost
is added to your contract or loan balance, the interest rate on the underlying contract or loan will apply to this added amount. The effective date of coverage may be the date your coverage lapsed or the date you failed to provide proof of coverage.

 The coverage we purchase may be considerably more expensive than insurance you can obtain on your own and may not satisfy the need for
property damage coverage or any mandatory liability insurance imposed by applicable law. 
 (b) Renewal Policies. Not less than
thirty (30) days prior to the expiration date of each insurance policy required pursuant to the Insurance Agreement, Grantor will deliver to Beneficiary an appropriate renewal policy (or a certified copy thereof), together with evidence
satisfactory to Beneficiary that the applicable premium has been prepaid. 
 (c) Deposit for Premiums. On or before the date hereof,
Grantor shall deposit with Beneficiary an amount equal to 1/12th of the amount which Beneficiary estimates will be required to make the next annual payments of the premiums for the policies of insurance referred to in this Section (the
“Insurance Reserves”), multiplied by the number of whole and partial months which have elapsed since the date one month prior to the most recent policy anniversary date for each such policy. Thereafter, with each monthly payment under the
Note, Grantor will deposit an amount equal to 1/12th of the amount which Beneficiary estimates will be required to pay the next required annual premium for each insurance policy referred to in this Section. The purpose of these provisions is to
provide Beneficiary with sufficient funds on hand to pay all such premiums thirty (30) days before the date on which they become past due. If Beneficiary, in its sole discretion, determines that the funds reserved hereunder are, or will be,
insufficient, Grantor shall upon demand pay such additional sums as Beneficiary shall determine necessary and shall pay any increased monthly charges requested by Beneficiary. Provided no Event of Default exists hereunder, Beneficiary will apply the
amounts so deposited to the payment of such insurance premiums when due, but in no event will Beneficiary be liable for any interest on any amounts so deposited, and the money so received may be held and commingled with Beneficiary’s own funds.
Notwithstanding anything to the contrary in this Section 4.5(c), the initial Grantor named herein shall only be required to deposit Insurance Reserves with Beneficiary following the occurrence and during the continuance of any Event of Default.

  

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 (d) Application of Hazard Insurance Proceeds. Grantor shall promptly notify Beneficiary of any
damage or casualty to all or any portion of the Property or Chattels. Beneficiary may participate in all negotiations and appear and participate in all judicial arbitration proceedings concerning any insurance proceeds which may be payable as a
result of such casualty or damage, and may, in Beneficiary’s sole discretion, compromise or settle, in the name of Beneficiary, Grantor, or both any claim for any such insurance proceeds. Any such insurance proceeds shall be paid to Beneficiary
and shall be applied first to reimburse Beneficiary for all costs and expenses, including attorneys’ fees, incurred by Beneficiary in connection with the collection of such insurance proceeds. The balance of any insurance proceeds received by
Beneficiary with respect to an insured casualty may, in Beneficiary’s sole discretion, either (i) be retained and applied by Beneficiary toward payment of the Secured Obligations, or (ii) be paid over, in whole or in part and subject
to such conditions as Beneficiary may impose, to Grantor to pay for repairs or replacements necessitated by the casualty; provided, however, that if all of the Secured Obligations have been performed or are discharged by the application of less than
all of such insurance proceeds, then any remaining proceeds will be paid over to Grantor. Notwithstanding the preceding sentence, if (A) no Default or Event of Default shall exist hereunder, and (B) the proceeds received by Beneficiary
(together with any other funds delivered by Grantor to Beneficiary for such purpose) shall be sufficient, in Beneficiary’s reasonable judgment, to pay for any restoration necessitated by the casualty, and (C) the cost of such restoration
shall not exceed $100,000.00, and (D) such restoration can be completed, in Beneficiary’s judgment, at least ninety (90) days prior to the maturity date of the Note, then Beneficiary shall apply such proceeds as provided in clause
(ii) of the preceding sentence. Beneficiary will have no obligation to see to the proper application of any insurance proceeds paid over to Grantor, nor will any such proceeds received by Beneficiary bear interest or be subject to any other
charge for the benefit of Grantor. Beneficiary may, prior to the application of insurance proceeds, commingle them with Beneficiary’s own funds and otherwise act with regard to such proceeds as Beneficiary may determine in Beneficiary’s
sole discretion. 
 (e) Successor’s Rights. Any person who acquires title to the Property or the Chattels upon foreclosure
hereunder will succeed to all of Grantor’s rights under all policies of insurance maintained pursuant to this Section. 
 4.6
Maintenance and Repair of Property and Chattels. Grantor will at all times maintain the Property and the Chattels in good condition and repair, will diligently prosecute the completion of any building or other improvement which is at any time in
the process of construction on the Property, and will promptly repair, restore, replace, or rebuild any part of the Property or the Chattels which may be affected by any casualty or any public or private taking or injury to the Property or the
Chattels. All costs and expenses arising out of the foregoing shall be paid by Grantor whether or not the proceeds of any insurance or eminent domain shall be sufficient therefor. Grantor will comply with all statutes, ordinances, and other
governmental or quasi-governmental requirements and private covenants relating to the ownership, construction, use, or operation of the Property, including but not limited to any environmental or ecological requirements; provided, that so long as
Grantor is not otherwise in default hereunder, Grantor may, upon providing Beneficiary with security reasonably satisfactory to Beneficiary, proceed diligently and in good faith to contest the validity or applicability of any such statute,
ordinance, or requirement. Beneficiary and any person authorized by Beneficiary may enter and inspect the Property at all reasonable times, and may inspect the Chattels, wherever located, at all reasonable times. 
  

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 4.7 Leases. Grantor shall timely pay and perform each of its obligations under or in connection
with the Leases, and shall otherwise pay such sums and take such action as shall be necessary or required in order to maintain each of the Leases in full force and effect in accordance with its terms. Grantor shall make reasonable efforts to
promptly furnish to Beneficiary copies of any notices given to Grantor by the lessee under any Lease, alleging the default by Grantor in the timely payment or performance of its obligations under such Lease and any subsequent communication related
thereto. Grantor shall also promptly furnish to Beneficiary copies of any notices given to Grantor by the lessee under any Lease, extending the term of any Lease, requiring or demanding the expenditure of any sum by Grantor (or demanding the taking
of any action by Grantor), or relating to any other material obligation of Grantor under such Lease and any subsequent communication related thereto. Grantor agrees that Beneficiary, in its sole discretion, may advance any sum or take any action
which Beneficiary believes is necessary or required to maintain the Leases in full force and effect, and all such sums advanced by Beneficiary, together with all costs and expenses incurred by Beneficiary in connection with action taken by
Beneficiary pursuant to this Section, shall be due and payable by Grantor to Beneficiary upon demand, shall bear interest until paid at the Default Rate (as defined in the Note), and shall be secured by this Deed of Trust. 
 4.8 Eminent Domain; Private Damage. If all or any part of the Property is taken or damaged by eminent domain or any other public or private
action, Grantor will notify Beneficiary promptly of the time and place of all meetings, hearings, trials, and other proceedings relating to such action. Beneficiary may participate in all negotiations and appear and participate in all judicial or
arbitration proceedings concerning any award or payment which may be due as a result of such taking or damage, and may, in Beneficiary’s reasonable discretion, compromise or settle, in the names of both Grantor and Beneficiary, any claim for
any such award or payment. Any such award or payment is to be paid to Beneficiary and will be applied first to reimburse Beneficiary for all costs and expenses, including attorneys’ fees, incurred by Beneficiary in connection with the
ascertainment and collection of such award or payment. The balance, if any, of such award or payment may, in Beneficiary’s sole discretion, either (a) be retained by Beneficiary and applied toward the Secured Obligations, or (b) be
paid over, in whole or in part and subject to such conditions as Beneficiary may impose, to Grantor for the purpose of restoring, repairing, or rebuilding any part of the Property affected by the taking or damage. Notwithstanding the preceding
sentence, if (i) no Default or Event of Default shall have occurred and be continuing hereunder, and (ii) the proceeds received by Beneficiary (together with any other funds delivered by Grantor to Beneficiary for such purpose) shall be
sufficient, in Beneficiary’s reasonable judgment, to pay for any restoration necessitated by the taking or damage, and (iii) the cost of such restoration shall not exceed $100,000.00, and (iv) such restoration can be completed, in
Beneficiary’s judgment, at least ninety (90) days prior to the maturity date of the Note, and (v) the remaining Property shall constitute, in Beneficiary’s sole judgment, adequate security for the Secured Obligations, then
Beneficiary shall apply such proceeds as provided in clause (b) of the preceding sentence. Grantor’s duty to pay the Note in accordance with its terms and to perform the other Secured Obligations will not be suspended by the pendency or
discharged by the conclusion of any proceedings for the collection of any such award or payment, and any reduction in the Secured Obligations resulting from Beneficiary’s 

  

 16 

 
application of any such award or payment will take effect only when Beneficiary receives such award or payment. If this Deed of Trust has been foreclosed
prior to Beneficiary’s receipt of such award or payment, Beneficiary may nonetheless retain such award or payment to the extent required to reimburse Beneficiary for all costs and expenses, including attorneys’ fees, incurred in connection
therewith, and to discharge any deficiency remaining with respect to the Secured Obligations. 
 4.9 Mechanics’ Liens. Grantor
will keep the Property free and clear of all liens and claims of liens by contractors, subcontractors, mechanics, laborers, materialmen, and other such persons, and will cause any recorded statement of any such lien to be released of record within
thirty (30) days after the recording thereof or such earlier date as may be necessary to stop a foreclosure thereof. Notwithstanding the preceding sentence, however, Grantor will not be deemed to be in default under this Section if
(i) the aggregate amount of any asserted liens does not exceed $100,000.00, or (ii) to the extent such liens exceed $100,000.00, Grantor provides Beneficiary with such security as Beneficiary may require to protect Beneficiary against all
loss, damage and expense which Beneficiary may incur as a result of such liens in excess of $100,000.00, which security may consist of Grantor causing such liens in excess of $100,000.00 to be bonded over or insured over. Any initiation of
proceedings to foreclose on any such lien, however, shall constitute a Default. 
 4.10 Defense of Actions. Grantor will defend, at
Grantor’s expense, any action, proceeding or claim which affects any property encumbered hereby or any interest of Beneficiary in such property or in the Secured Obligations, and will indemnify and hold Beneficiary harmless from all loss,
damage, cost, or expense, including attorneys’ fees, which Beneficiary may incur in connection therewith. 
 4.11 Expenses of
Enforcement. Grantor will pay all costs and expenses, including attorneys’ fees, which Beneficiary may incur in connection with any effort or action (whether or not litigation or foreclosure is involved) to enforce or defend
Beneficiary’s rights and remedies under any of the Loan Documents, including but not limited to all attorneys’ fees, appraisal fees, consultants’ fees, and other expenses incurred by Beneficiary in securing title to or possession of,
and realizing upon, any security for the Secured Obligations. All such costs and expenses (together with interest thereon at the Default Rate from the date incurred) shall constitute part of the Secured Obligations, and may be included in the
computation of the amount owed to Beneficiary for purposes of foreclosing or otherwise enforcing this Deed of Trust. 
 4.12 Financial
Reports. During the term of the Loan, Grantor shall supply to Beneficiary (a) within forty-five (45) days following the end of each quarter, Grantor’s quarterly and annual operating statements for the Property as of the end
of and for the preceding quarter and fiscal year, as applicable, in each case prepared consistent with the form of operating statements delivered to Beneficiary by Grantor prior to the date of this Deed of Trust; (b) contemporaneously with
Grantor’s delivery of each of such operating statements, a certified rent roll signed and dated by Grantor in the form delivered to Beneficiary prior to the date of this Deed of Trust; and (c) within ninety (90) days following
the end of each year, an annual balance sheet and profit and loss statement of Grantor. The financial statements and reports described in (a) and (c) above shall be in the detail set forth in the financial statements delivered to
Beneficiary by Grantor prior to the date of this Deed of Trust, shall be prepared in accordance 

  

 17 

 
with generally accepted accounting principles consistently applied, and shall be certified as true and correct by Grantor (or, if required by Beneficiary
during the continuation of an Event of Default or if required to comply with regulatory requirements to which Beneficiary may be subject, by an independent certified public accountant acceptable to Beneficiary). Grantor shall also furnish to
Beneficiary within forty-five (45) days of Beneficiary’s request, any other financial reports or statements of Grantor as Beneficiary may reasonably request to comply with regulatory requirements to which Beneficiary may be subject,
or as requested by Beneficiary in its sole discretion during the continuation of an Event of Default. Upon Beneficiary’s demand after any Event of Default, or if Beneficiary securitizes the Loan, Grantor shall supply to Beneficiary the items
required in (a) and (b) above on a monthly basis. Notwithstanding the foregoing, for so long as KBS ADP Plaza, LLC is Grantor, any request or requirement that Grantor deliver audited financials certified by an independent certified
public accountant may be satisfied by delivery of the audited financials for KBS Real Estate Investment Trust, Inc. 
 4.13 Priority of
Leases. To the extent Grantor has the right, under the terms of any Lease, to make such Lease subordinate to the lien hereof, Grantor will, at Beneficiary’s request and Grantor’s expense, take such action as may be required to effect
such subordination. Conversely, Grantor will, at Beneficiary’s request and Grantor’s expense, take such action as may be necessary to subordinate the lien hereof to any future Lease designated by Beneficiary. 
 4.14 Inventories; Assembly of Chattels. Upon the occurrence of any Event of Default hereunder, Grantor will at Beneficiary’s request assemble
the Chattels and make them available to Beneficiary at any place designated by Beneficiary which is reasonably convenient to both parties. 
 4.15 Compliance with Laws, Etc. Grantor shall comply in all material respects with all applicable laws, rules, regulations and orders, such compliance to include, without limitation, maintaining all Permits and paying before the same
become delinquent all taxes, assessments and governmental charges imposed upon Grantor or the Property. 
 4.16 Records and Books of
Account. Grantor shall keep accurate and complete records and books of account, in which complete entries will be made in accordance with generally accepted accounting principles consistently applied, reflecting all financial transactions
relating to the Property. 
 4.17 Inspection Rights. At any reasonable time, and from time to time, Grantor shall permit Beneficiary,
or any agents or representatives thereof, to examine and make copies of and abstracts from the records and books of account of Grantor, and to visit the Property and to discuss with Grantor the affairs, finances and accounts of Grantor.

 4.18 Change of Grantor’s Address or State of Organization. Grantor shall promptly notify Beneficiary if changes are made in
Grantor’s address from that set forth in Section 9.10 hereof, or if Grantor shall either change its “location” (as such term is used in Section 5.8 hereof), its state of organization or if Grantor shall organize in any state
other than the State of Delaware. 
  

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 4.19 Further Assurances; Estoppel Certificates. Grantor will execute and deliver to Beneficiary
upon demand, and pay the costs of preparation and recording thereof, any further documents which Beneficiary may request to confirm or perfect the liens and security interests created or intended to be created hereby, or to confirm or perfect any
evidence of the Secured Obligations. Grantor will also, within ten days after any request by Beneficiary, deliver to Beneficiary a signed and acknowledged statement certifying to Beneficiary, or to any proposed transferee of the Secured Obligations,
(a) the balance of principal, interest, and other sums then outstanding under the Note, and (b) whether Grantor claims to have any offsets or defenses with respect to the Secured Obligations and, if so, the nature of such offsets or
defenses. 
 4.20 Costs of Closing. Grantor shall on demand pay directly or reimburse Beneficiary for any actual costs or expenses
pertaining to the closing of the Loan, including, but not limited to, fees of counsel for Beneficiary, costs and expenses for which invoices were not available at the closing of the Loan, or costs and expenses which are incurred by Beneficiary after
such closing, including, without limitation, costs or expenses incurred to obtain originals or copies of recorded or filed Loan Documents and UCC financing statements. All such costs and expenses (together with interest thereon at the Default Rate
from the date incurred by Beneficiary) shall constitute a part of the Secured Obligations, and may be included in the computation of the amount owed to Beneficiary for purposes of foreclosing or otherwise enforcing this Deed of Trust. 
 4.21 Fund for Electronic Transfer. All monthly payments of principal and interest on the Note, and escrow deposits, if any, under this Deed of
Trust, shall be made by Grantor by electronic funds transfer from a bank account established and maintained by Grantor for such purpose. Grantor shall establish and maintain such an account until the Note is fully paid and shall direct the
depository of such account in writing to so transmit such payments on or before the respective due dates to the account of Beneficiary as shall be designated by Beneficiary in writing. 
 4.22 Use. Grantor shall use the Property solely for the operation of an office complex, and for no other use or purpose. 
 4.23 Management. The Property shall be managed by CB Richard Ellis (“Property Manager”) under a management agreement previously
delivered to, and approved, by Beneficiary (the “Management Agreement”). If Grantor shall terminate or permit any amendment to or modification of the Management Agreement, or permit management of the Property by any person or entity other
than Property Manager (“New Property Manager”), Grantor shall promptly provide Beneficiary with notice thereof and any such New Property Manager shall have management expertise in managing properties similar in size and type to the
Property. Beneficiary hereby approves any of the following as New Property Managers: Jones Lang and PM Realty Group. Following a transfer of the Property by the initial Grantor named herein pursuant to the provisions of Section 5.4(c), below,
Beneficiary’s prior written consent shall be required for (a) any termination or modification of the Management Agreement, (b) management of the Property by any person or entity other than Property Manager, and (c) any leasing
agreement affecting the Property entered into by Grantor and any termination or modification of any such leasing agreement. 
  

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 4.24 Secondary Market Transactions. Beneficiary shall have the right at any time: (a) to
participate, syndicate or securitize all or any portion of its interest in the Loan, (b) to cause the Loan to be split into senior and one or more junior or mezzanine Loans in whatever proportion Beneficiary deems appropriate (which Loans may
be secured by mortgages, deeds of trust and/or a pledge of direct or indirect partnership or membership interests in Grantor), and (c) to create one or more senior and subordinate notes (i.e., an A/B or A/B/C structure) or multiple components
of such note or notes, and thereafter to sell, assign, participate, syndicate or securitize all or any part of any variant of the Loan (any of the foregoing, a “Secondary Market Transaction”). Grantor shall cooperate with Beneficiary to
facilitate any Secondary Market Transaction and the rating of the Loan (or any resulting variant thereof) and of each securitization in which one or more Loans are included; provided that Grantor shall not be required to (i) incur any
out-of-pocket expense in connection therewith unless Beneficiary agrees to pay for such out-of-pocket expenses as they are incurred by Grantor, (ii) agree to a modification of any Loan document, or (iii) take any actions that would impose
a significant burden on Grantor, including, without limitation, requesting executives of Grantor or other executives of entities holding an interest (direct or indirect) in Grantor to participate in any form of presentation regarding the Property or
the Loans. Grantor’s cooperation obligation shall continue until the Loan has been sold through a Secondary Market Transaction. 
 4.25 Cash Management. Following any transfer of the Property pursuant to the provisions of Section 5.4(c), below, or at any time after the closing of the Loan upon no less than thirty (30) days’ prior written notice by
Beneficiary, Grantor shall establish an account (the “Clearing Account”) under the sole dominion and control of Beneficiary at a bank (the “Clearing Bank”) into which all proceeds from the Property will be deposited during the
Loan term. The Clearing Bank will be selected by Grantor but must be acceptable to Beneficiary. Grantor shall be required to notify each tenant of the Property to remit all amounts due with respect to the Property directly to the Clearing Account.
Unless a Cash Management Period (as defined below) is continuing, all funds deposited into the Clearing Account shall be swept by the Clearing Bank into Grantor’s operating account at the Clearing Bank. There shall be no restrictions on
Grantor’s use of the operating account. During the continuance of a Cash Management Period, funds deposited into the Clearing Account shall be transferred by the Clearing Bank on a daily basis into a deposit account (the “Deposit
Account”) under the sole dominion and control of the Beneficiary at a bank selected by Beneficiary (the “Deposit Bank”). All funds in the Deposit Account shall be applied as follows: (a) first, to be used to cover interest
payments under the Note, (b) second, disbursed monthly to Grantor in an amount sufficient to allow Grantor to make Permitted REIT Distributions (as that term is defined in the Note), (c) third, to fund any reserves established under the
terms of the Loan Documents, and (d) fourth, to pay operating expenses and capital expenses of the Property. Notwithstanding the foregoing subsections (c) and (d), during the continuance of a Cash Management Period, all amounts on deposit
in the Deposit Account, after monthly payment to the Grantor of funds sufficient to allow Grantor to make Permitted REIT Distributions, shall be additional cash collateral for the Loan and applied to Grantor’s outstanding obligations under the
Loan as Beneficiary may elect. A “Cash Management Period” shall commence upon the occurrence and continuance of an Event of Default, and shall end if the Event of Default has been cured. Except as otherwise expressly provided herein to the
contrary, Grantor shall have the right under all circumstances to use proceeds from the Property first to make Permitted REIT Distributions before applying such proceeds to any debt service or reserve or other payment obligations under the Loan.

  

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 4.26 Hazardous Substances. Grantor covenants and agrees as follows: 
 (a) Grantor will (i) comply with all Environmental Laws applicable to the ownership or use of the Property, (ii) use its best efforts to cause
all tenants and other persons occupying the Property to comply with all Environmental Laws, (iii) immediately pay or cause to be paid all costs and expenses incurred in such compliance, and (iv) keep or cause the Property to be kept free
and clear of any liens imposed thereon pursuant to any Environmental Laws. 
 (b) Grantor will not generate, use, treat, store, Release or
dispose of, or permit the generation, use, treatment, storage, Release or disposal of, any Hazardous Substances on the Property, or transport or permit the transportation of any Hazardous Substances to or from the Property, in each case in any
quantity or manner which violates any Environmental Law. The foregoing to the contrary notwithstanding, (i) Grantor may store, maintain and use on the Property janitorial and maintenance supplies, paint and other Hazardous Substances of a type
and in a quantity readily available for purchase by the general public and normally stored, maintained and used by owners and managers of properties of a type similar to the Property, and (ii) tenants of the Property may store, maintain and use
on the Property (and, if any tenant is a retail business, hold in inventory and sell in the ordinary course of such tenant’s business) Hazardous Substances of a type and quantity readily available for purchase by the general public and normally
stored, maintained and used (and, if tenant is a retail business, sold) by tenants in similar lines of business on properties similar to the Property. 
 (c) If Beneficiary (i) has knowledge of any pending or threatened Environmental Claim against Grantor or the Property or (ii) has reason to believe that the Grantor or the Property are in violation of any
Environmental Law or (iii) receives a request for an environmental site assessment report from a regulatory or other governmental entity with jurisdiction over Beneficiary, then at Beneficiary’s written request, at any time and from time
to time, Grantor will provide to Beneficiary an environmental site assessment report concerning the Property, prepared by an environmental consulting firm approved by Beneficiary, indicating the presence or absence of Hazardous Substances and the
potential cost of any removal or remedial action in connection with any Hazardous Substances on the Property (except that any request arising from clause (iii) above shall be at Beneficiary’s sole cost and expense). Except as provided
above, any such environmental site assessment report shall be conducted at Grantor’s sole cost and expense. If Grantor fails to deliver to Beneficiary any such environmental site assessment report within thirty (30) days after being
requested to do so by Beneficiary pursuant to this Section 4.26, Beneficiary may obtain the same, and Grantor hereby grants to Beneficiary and its agents access to the Property and specifically grants to Beneficiary an irrevocable nonexclusive
license to undertake such an assessment, and the cost of such assessment (together with interest thereon at the Default Rate as defined in the Note) will be payable by Grantor on demand. 
 (d) Beneficiary may, at its option, at any time and from time to time, perform at its sole cost and expense an environmental site assessment report for
the Property, and 

  

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Grantor hereby grants to Beneficiary and its agents access to the Property upon reasonable prior notice to Grantor, and specifically grants to Beneficiary an
irrevocable non-exclusive license to undertake such an assessment, expressly excluding any invasive inspections. Grantor shall have the right to have an agent or representative of Grantor present during any such inspection. 
 (e) Grantor will advise Beneficiary in writing immediately upon learning of any of the following: (i)any pending or threatened Environmental Claim
against Grantor or the Property; (ii) any condition or occurrence on the Property that (A) results in noncompliance by Grantor with any applicable Environmental Law, or (B) could reasonably be anticipated to form the basis of an
Environmental Claim against Grantor or the Property; (iii) any condition or occurrence on the Property that could reasonably be anticipated to cause the Property to be subject to any restrictions on the ownership, occupancy, use or
transferability of the Property under any Environmental Law; and (iv) the taking of any removal or remedial action in response to the actual or alleged presence, in any quantity or manner which violates any Environmental Law, of any Hazardous
Substances on the Property. Each such notice shall describe in reasonable detail the nature of the claim, investigation, condition, occurrence or removal or remedial action and Grantor’s response thereto. In addition, Grantor will provide
Beneficiary with copies of all communications to or from Grantor and any governmental agency relating to Environmental Laws, all communications to or from Grantor and any person relating to Environmental Claims, and such detailed reports of any
Environmental Claim as may be requested by Beneficiary. 
 (f) Beneficiary shall have the right but not the obligation to participate in or
defend, as a party if it so elects, any Environmental Claim. Without Beneficiary’s prior written consent, Grantor shall not enter into any settlement, consent or compromise with respect to any Environmental Claim that might impair the value of
the Property. 
 (g) At its sole expense, Grantor will conduct any investigation, study, sampling and testing, and undertake any cleanup,
removal, remedial or other action necessary to remove and clean up all Hazardous Substances from the Property which must be so removed or cleaned up in accordance with the requirements of any applicable Environmental Laws, to the reasonable
satisfaction of a professional environmental consultant selected by Beneficiary, and in accordance with all such requirements and with orders and directives of all governmental authorities. If all or any portion of the Loan shall be outstanding,
Grantor may prepay the Loan in full, together with all applicable prepayment penalties, in lieu of complying with the preceding sentence. 
 (h) Grantor will defend (with attorneys satisfactory to the Indemnitees), protect, indemnify and hold harmless each of the Indemnitees and its respective officers, directors, employees, attorneys and agents from and against any and all
liabilities, obligations (including removal and remedial actions), losses, damages (including foreseeable and unforeseeable consequential damages and punitive damages), penalties, actions, judgments, suits, claims, costs, expenses and disbursements
(including reasonable attorneys’ and consultants’ fees and disbursements) of any kind or nature whatsoever that may at any time be incurred by, imposed on or asserted against any of them directly or indirectly based on, or arising or
resulting from (i) the actual or alleged presence of Hazardous Substances on the Property in any quantity or manner which violates Environmental Law, or the removal, handling, transportation, disposal 

  

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or storage of such Hazardous Substances, (ii) any Environmental Claim with respect to Grantor or the Property, or (iii) the exercise of any
Indemnitee’s rights under this Section 4.26 (collectively, the “Indemnified Matters”), regardless of when such Indemnified Matters arise, but excluding any Indemnified Matter arising out of the gross negligence or willful
misconduct of any Indemnitee or with respect to Hazardous Substances first Released on the Property after the earlier of (1) the date neither Grantor nor any of its affiliates holds title to or any other interest in or lien on the Property as a
result of a transfer permitted under Section 5.4(c), below, or through foreclosure (or deed in lieu thereof) of the lien of the Deed of Trust, or (2) the payment in full of the Secured Obligations. To the extent that this indemnity is
unenforceable because it violates any law or public policy, Grantor agrees to contribute the maximum portion that it is permitted to contribute under applicable law to the payment and satisfaction of all Indemnified Matters. For the purposes of the
preceding sentence, “the Secured Obligations have been paid in full” shall mean the Secured Obligations have been voluntarily repaid in full by Grantor in cash, only, and shall not include the acceptance by Beneficiary of a deed in lieu of
foreclosure or the making of any bid made by Beneficiary in connection with a foreclosure of the Property. 
 (i) Grantor will reimburse
each Indemnitee for all sums paid and costs incurred by such Indemnitee with respect to any Indemnified Matter within ten (10) days following written demand therefor, with interest thereon at the Default Rate (as defined in the Note) if
not paid within such ten (10) day period. 
 (j) Should any Indemnitee institute any action or proceeding at law or in equity, or in
arbitration, to enforce any provision of this Deed of Trust (including an action for declaratory relief or for damages by reason of any alleged breach of any provision of this Section 4.26) or otherwise in connection with this Deed of Trust or
any provision hereof, it shall be entitled to recover from Grantor its reasonable attorneys’ fees and disbursements incurred in connection therewith if it is the prevailing party in such action or proceeding, including fees and disbursements
incurred on appeal. 
 (k) THE INDEMNITIES CONTAINED IN THIS SECTION 4.26 SHALL APPLY TO EACH INDEMNIFIED PARTY WITH RESPECT TO LOSSES
WHICH IN WHOLE OR IN PART ARE CAUSED BY OR ARISE OUT OF THE NEGLIGENCE OF SUCH (AND/OR ANY OTHER) INDEMNIFIED PARTY OR ANY STRICT LIABILITY. 
 (l) Grantor agrees that notwithstanding any term or provision contained in the Loan Documents to the contrary, the obligations of Grantor as set forth in this Section 4.26 shall be exceptions to any non-recourse or exculpatory
provision relating to the Loan, and Grantor shall be fully liable for the performance of its obligations under this Section, and such liability shall not be limited to the original principal amount of the Loan. 
 (m) The liability of Grantor under this Section 4.26 shall in no way be limited to or impaired by any amendment or modification of the provisions
of the Loan Documents unless such amendment or modification expressly refers to this Section 4.26. In addition, the liability of Grantor under this Section 4.26 shall in no way be limited or impaired by (i) any extensions of time for
performance required by any of the Loan Documents, (ii) any sale, assignment or foreclosure of the Note or any sale or transfer of all or any part of the Property, (iii) any exculpatory provision in any of the Loan Documents limiting any

  

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Indemnitee’s recourse to property encumbered by this Deed of Trust or to any other security, or limiting the Indemnitees’ rights to a deficiency
judgment against Grantor, (iv) the accuracy or inaccuracy of the representations and warranties made by Grantor under any of the Loan Documents, (v) the release of Grantor or any other person from performance or observance of any of the
agreements, covenants, terms or conditions contained in any of the Loan Documents by operation of law, any Indemnitee’s voluntary act, or otherwise, (vi) the release or substitution in whole or in part of any security for the Note or
(vii) Beneficiary’s failure to record this Deed of Trust or file any financing statements (or Beneficiary’s improper recording or filing of any thereof) or to otherwise perfect, protect, secure or insure any security interest or lien
given as security for the Note; and, in any such case, whether with or without notice to Grantor and with or without consideration. Notwithstanding the foregoing, and notwithstanding anything else stated to the contrary in this Deed of Trust, none
of the constituent members or partners in Grantor (nor any of their constituent members or partners) shall have any liability whatsoever for any of Grantor’s obligations hereunder. 
 (n) The provisions of this Section 4.26 shall be binding on and inure to the benefit of Grantor, the Indemnitees, and their respective successors
and assigns. Without limiting the generality of the foregoing, the provisions of this Section 4.26 shall inure to the benefit of each assignee or holder of the Note and each of such assignee’s or holder’s officers, directors,
employees, agents and affiliates. Notwithstanding the foregoing, Grantor, without the prior written consent of Beneficiary in each instance, may not assign, transfer or set over in whole or in part, all or any part of its benefits, rights, duties
and obligations hereunder. 
 (o) THE PROVISIONS OF THIS SECTION 4.26 SHALL SURVIVE FORECLOSURE, THE RECONVEYANCE, TERMINATION AND
RELEASE OF THIS DEED OF TRUST, BUT GRANTOR’S LIABILITY HEREUNDER SHALL BE SUBJECT TO SECTION 18 OF THE NOTE. 
 4.27 Heat Pump
Repairs. Grantor will have twelve (12) months following the date of this Deed of Trust to replace the existing heat pumps that serve the HVAC system at the Property with an alternative system that serves the HVAC system. If Grantor does not
replace the existing heat pumps as provided above and within the time period provided above, Grantor will have ninety (90) days (following the expiration of the twelve (12) month period set forth above) to install code-required auxiliary
drains underneath the replacement heat pumps, as noted in Section XI, Item 26 of the Property Condition Assessment dated October 11, 2007, prepared by Marx/Okubo Associates, Inc. Grantor’s failure to replace the existing heat
pumps with an alternative system within twelve (12) months following the date of this Deed of Trust shall not constitute a default under the Loan. 
 Article 5 
 GRANTOR’S NEGATIVE COVENANTS 
 5.1 Waste and Alterations. Grantor will not commit or permit any waste with respect to the Property or the Chattels. Grantor shall not cause or
permit any part of the Property, including but not limited to any building, structure, parking lot, driveway, landscape scheme, timber, or other ground improvement, to be removed, demolished, or materially altered without the prior written consent
of Beneficiary. 
  

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 5.2 Zoning and Private Covenants. Grantor will not initiate, join in, or consent to any change in
any zoning ordinance or classification, any change in the “zone lot” or “zone lots” (or similar zoning unit or units) presently comprising the Property, any transfer of development rights, any change in any private restrictive
covenant, or any change in any other public or private restriction limiting or defining the uses which may be made of the Property or any part thereof, without the prior written consent of Beneficiary. If under applicable zoning provisions the use
of all or any part of the Property is or becomes a nonconforming use, Grantor will not cause such use to be discontinued or abandoned without the prior written consent of Beneficiary, and Grantor will use its best efforts to prevent the tenant under
any Lease from discontinuing or abandoning such use. 
 5.3 Interference with Leases. 
 (a) Subject to the provisions of Section 5.3(d) hereof, Grantor will neither do, nor neglect to do, anything which may cause or permit the
termination of any Lease of all or any part of the Property, or cause or permit the withholding or abatement of any rent payable under any such Lease. 
 (b) Subject to the provisions of Section 5.3(d) hereof, without Beneficiary’s prior written consent, which may be granted or withheld in Beneficiary’s sole discretion, Grantor shall not enter into or
modify any Lease of all or any part of the Property. Any submission by Grantor for Beneficiary’s approval of a Lease or modification thereof shall be accompanied by a copy of such Lease or modification, a Lease abstract, a then-current rent
roll for the Property, year-to-date and prior year operating statements for the Property, and a cover letter requesting Beneficiary’s approval which contains a signature line on which Beneficiary may evidence its approval of such Lease or
modification. 
 (c) Except with the prior written consent of Beneficiary, which may be granted or withheld in Beneficiary’s sole
discretion, Grantor will not (i) collect rent from all or any part of the Property for more than one month in advance, (ii) assign the rents from the Property or any part thereof, or (iii) subject to the provisions of
Section 5.3(d) hereof, consent to the cancellation or surrender of all or any part of any Lease, except that Grantor may in good faith terminate any Lease for nonpayment of rent or other material breach by the tenant. 
 (d) Notwithstanding anything stated to the contrary in this Section 5.3, and provided that no Event of Default exists and is continuing,
Beneficiary’s approval shall not be required with respect to any new Lease entered into by the initial Grantor named herein for the Property in the future or with respect to any amendment, modification, extension, expansion or termination of
any existing Lease or future Lease; provided, however, that Grantor shall promptly deliver to Beneficiary a copy of any new Lease entered into by Grantor and any lease amendment, modification, extension, expansion or termination of any existing
Lease or future Lease entered into by Grantor. 
  

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 (e) Without limiting the generality of the foregoing, whether or not Beneficiary’s consent to the
cancellation or surrender of any Lease is required hereunder, Beneficiary may (i) require that Grantor deposit into an escrow account acceptable to Beneficiary in its reasonable discretion all cancellation penalties or other consideration paid
to Grantor in an amount equal to or greater than $100,000.00 (and any such termination fees received by Grantor under said $100,000.00 may be retained by Grantor) in connection with such cancellation or surrender (the “Termination Fees”);
provided, however, that the amount of any Termination Fees required to be deposited by Grantor under this Section 5.3 shall be limited to the lesser of (1) the actual amount of the Lease termination payment, and (2) the amount needed
to cover the retenanting costs of the vacant space, and (ii) impose such restrictions and conditions on the timing and amount of disbursements of the Termination Fees from such escrow account as Beneficiary may require in its reasonable
discretion, including, without limitation (A) requiring that (1) such vacant space be relet to a tenant and under a Lease acceptable to Beneficiary in its reasonable discretion (an “Approved Lease”), (2) the tenant under the
Approved Lease is in occupancy of the Property and paying rent, (3) Grantor provide to Beneficiary a tenant estoppel certificate from the tenant under the Approved Lease in a form acceptable to Beneficiary in Beneficiary’s reasonable
discretion, and (4) Grantor provide to Beneficiary evidence acceptable to Beneficiary in its reasonable discretion that all improvements to the Property required by the Approved Lease have been completed, and (B) limiting the amount of
such disbursement to the lesser of the actual cost of retenanting such space or the amount calculated by dividing the Termination Fees by the total square feet of space vacated, then multiplying that result by the number of square feet of newly
leased space under the applicable Lease or Approved Lease, as the case may be. If at any time the amount of Termination Fees held by Beneficiary exceeds the estimated amount needed for retenanting costs, such excess amount shall be promptly remitted
back to Grantor. Notwithstanding anything stated to the contrary herein, Permitted REIT Distributions (as defined in the Note) shall have priority over the requirement to deposit Termination Fees pursuant to this Section 5.3(e) and the
provisions of subsection 5.3(e)(ii)(A) shall apply only after a transfer of the Property by the initial Grantor named herein pursuant to the provisions of Section 5.4(c), below. Grantor hereby grants to Beneficiary a security interest in
the Termination Fees and agrees that, following the occurrence of any Event of Default, Beneficiary may apply the Termination Fees against the Secured Obligations in such order and manner as Beneficiary may elect in its sole discretion. 

5.4 Transfer or Further Encumbrance of Property. 
 (a) Without Beneficiary’s prior written consent, which consent may be granted or withheld in Beneficiary’s sole and absolute discretion, Grantor shall not (i) sell, assign, convey, transfer or otherwise
dispose of any legal, beneficial or equitable interest in all or any part of the Property, (ii) permit or suffer any owner, directly or indirectly, of any beneficial interest in the Property or Grantor to transfer such interest, whether by
transfer of partnership, membership, stock or other beneficial interest in any entity or otherwise, or (iii) mortgage, hypothecate or otherwise encumber or permit to be encumbered or grant or permit to be granted a security interest in all or
any part of the Property or Grantor or any beneficial or equitable interest in either the Property or Grantor. The provisions of this Section shall not prohibit transfers of title or interest under any will or testament or applicable law of
descent. 
  

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 (b) Notwithstanding the provisions of Section 5.4(a), the initial Grantor named herein shall have
the right to modify its organizational documents and/or structure without Beneficiary’s consent provided that such modifications do not result in a violation this Section 5.4. In addition, the provisions of this Section 5.4 shall not
prohibit transfers, pledges or the incurring of debt or other liabilities or obligations, or the signing of guarantees or other agreements by (or impose any financial covenants of any kind, including, without limitation, net worth requirements, on)
KBS Limited Partnership or any of the direct or indirect owners of KBS Limited Partnership, provided that (i) KBS Real Estate Investment Trust, Inc. (“KBS REIT”) continues to directly or indirectly own Grantor and (ii) the sole
asset manager of KBS REIT is any one or more of the following: (A) an entity indirectly or directly owned and controlled by Peter Bren and/or Charles Schreiber, Jr., or (B) an entity reasonably acceptable to Beneficiary
using commercial standards customarily applied by prudent institutional mortgage lenders for similar loans. 
 (c) Notwithstanding the
provisions of Section 5.4(a) to the contrary, Beneficiary shall permit transfer of the Property twice, provided that all of the following conditions are satisfied with respect to each such transfer: (i) no Event of Default has occurred and
is continuing; (ii) Grantor has paid to Beneficiary an assumption fee of one percent (1%) of the outstanding principal balance of the Secured Obligations; (iii) if the proposed transferee is a land trust, Beneficiary has received a
first-lien collateral assignment of all beneficial interest therein; (iv) Beneficiary has received and has had a reasonable opportunity to review and approve all organizational documentation of the proposed transferee, including, without
limitation, certificates and articles of formation, partnership and operating agreements, bylaws, certificates of good standing and authorizing resolutions and review all documents and agreements executed or to be executed in connection with
the proposed transfer; (v) the non-economic terms (e.g., those terms other than interest rate, payment schedule, principal balance, and non-recourse nature (subject to exceptions thereto customarily included by Beneficiary in loan documents))
of the Loan Documents have been modified as Beneficiary may request in good faith; (vi) the proposed transferee has assumed all of Grantor’s obligations under the Loan Documents; (vii) Beneficiary has received at least thirty
(30) days’ prior written notice of the proposed transfer; (viii) the proposed transferee (and, if applicable, its general partners) has a satisfactory history and recent experience of owning, operating and leasing property similar to
the Property; (ix) the proposed transferee (and, if applicable, its general partners) has, in the reasonable judgment of Beneficiary, a satisfactory credit history and professional reputation and character; (x) the Debt Service Coverage
Ratio (as hereinafter defined) is not less than 1.50x, and Beneficiary receives satisfactory evidence that such ratio will be maintained for the succeeding twelve (12) months; (xi) the Loan-to-Value Ratio (as hereinafter defined), taking
into account all obligations secured by liens on the Property does not exceed 65%; (xii) Grantor pays all costs and expenses incurred by Beneficiary in connection with such transfer, including, without limitation, all legal, processing,
accounting, title insurance, and appraisal fees, whether or not such transfer is actually consummated; (xiii) at Beneficiary’s option, Beneficiary has received an endorsement to its mortgagee’s title insurance policy at Grantor’s
expense, which endorsement states that the lien of this Deed of Trust remains a first and prior lien against the Property subject to no exceptions other than as approved by Beneficiary; (xiv) principals of the proposed transferee satisfying, in
the reasonable judgment of Beneficiary, Beneficiary’s then applicable credit review and underwriting standards, execute a guaranty agreement guaranteeing the recourse obligations of Grantor under the Loan Documents and an environmental
indemnity 

  

 27 

 
agreement in form and substance acceptable to Beneficiary in its sole discretion; (xv) a written opinion of counsel for the proposed transferee and its
principals satisfactory to Beneficiary shall be delivered to Beneficiary, including, without limitation, the existence, authority and due execution, and enforceability of the Loan Documents as assumed by the proposed transferee and enforceability of
any and all documents executed by the proposed transferee and its principals in connection with such transfer, (xvi) the proposed transferee, any person or entity executing any loan documents in connection with the transfer, and their
respective constituents, are not in violation of any laws relating to terrorism or money laundering, including without limitation, Executive Order No. 13224 on Terrorist Financing, effective September 24, 2001, and relating to Blocking
Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism, and the Bank Secrecy Act, as amended by the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct
Terrorism Act of 2001, as such laws have been or may hereafter be, renewed, extended, amended or replaced, (xvii) Beneficiary’s receipt of such new or increased impounds as Beneficiary may require, including, without limitation, Tax
Reserves, Insurance Reserves, tenant improvement and leasing commissions, capital improvements, capital expenditures and deferred maintenance, and the amendment of the Loan Documents to require the proposed transferee to make monthly deposits of
such new or increased impounds for such purposes thereafter; and (xviii) the proposed transferee establishes and maintains a Clearing Account (as defined in Section 4.25, above) in compliance with the cash management provisions of
Section 4.25 hereof. Upon the satisfaction of the foregoing conditions and execution of assumption documents in form and substance satisfactory to Beneficiary, Beneficiary shall release Grantor from liability under the Loan Documents other than
any such liability that arose on or prior to the effective date of the assumption or could be based on any event that occurred or any state of affairs that existed prior to or as of the effective date of the assumption (including, without
limitation, any liability arising under the exceptions to the non recourse provisions of the Loan Documents, and any liability arising under any environmental indemnity agreement). Notwithstanding the foregoing or any provision contained in the Loan
Documents to the contrary, in connection with a permitted transfer of the Property pursuant to the provisions of this Section 5.4(c), at any time after the “Lockout Expiration Date” (as defined in the Note) Grantor shall have the
right to prepay a portion of the principal balance of the Note in an amount necessary to satisfy the requirements of subsections 5.4(c)(x) and (xi) above (provided that Grantor shall pay Beneficiary the prepayment premium required
pursuant to Section 5(b) of the Note calculated on the amount of principal being paid, and further provided that such prepayment shall not exceed the minimum amount necessary to satisfy such requirements of
subsections 5.4(c)(x) and (xi) above). 
 (d) The term “Debt Service Coverage Ratio” shall mean the ratio, as
reasonably determined by Beneficiary, of (i) Net Operating Income for the preceding twelve (12) calendar months for the Property, to (ii) the annual debt service payments due under the Loan and on all other indebtedness secured, or to
be secured, by a lien on all or any part of the Property, where “Net Operating Income” shall mean all gross revenues generated by the Property (excluding loans or contributions to capital), less operating expenses (other than debt service
payments due under the Loan), as determined on a cash accounting basis, as of the date of such calculation for the period in question, adjusted, however, so that (A) operating expenses shall be deemed to include (1) a management fee equal
to the greater of the actual management fee for the Property or four percent (4%) of gross revenues, and (2) a tenant improvement, leasing commission, and capital improvement reserve equal to $0.75 per rentable square foot per year,

  

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(B) payments of operating expenses, including property taxes and assessments and insurance expenses, are to be spread out over the period during which
they accrued and shall be adjusted for any known future changes to any such expenses, (C) prepaid rents and other prepaid payments received are to be spread out over the periods during which such rents or payments are earned or applicable,
(D) security deposits shall not be included as items of income until duly applied or earned, (E) gross revenue shall be based on a lease-in-place analysis which reflects then current Leases in place, as determined by Beneficiary, in its
reasonable discretion, in accordance with its standard underwriting criteria, consistently applied, and excluding extraordinary, or one time items, and (F) any refunds or rebates to operating expenses are to be applied and credited against the
applicable operating expenses for the period that such operating expenses were incurred. Debt Service Coverage Ratio shall be calculated on a cash flow basis. The “Loan-to-Value Ratio” shall be the ratio, as determined by Beneficiary, of
the aggregate principal balance of the Note and all other indebtedness secured by liens or encumbrances against the Property to the fair market value of the Property, as such fair market value is determined by an M.A.I. appraisal satisfactory to
Beneficiary (the “Appraisal”). Upon Beneficiary’s request, Grantor shall deliver the appraisal to Beneficiary at Grantor’s sole cost and expense. 
 5.5 Further Encumbrance of Chattels. Grantor will neither create nor permit any lien, security interest or encumbrance against the Chattels or Intangible Personalty or any part thereof or interest therein,
other than the liens and security interests created by the Loan Documents, without the prior written consent of Beneficiary, which may be withheld for any reason. 
 5.6 Assessments Against Property. Grantor will not, without the prior written approval of Beneficiary, which may be withheld for any reason, consent to or allow the creation of any so-called special districts,
special improvement districts, benefit assessment districts or similar districts, or any other body or entity of any type, or allow to occur any other event, that would or might result in the imposition of any additional taxes, assessments or other
monetary obligations or burdens on the Property, and this provision shall serve as RECORD NOTICE to any such district or districts or any governmental entity under whose authority such district or districts exist or are being formed that, should
Grantor or any other person or entity include all or any portion of the Property in such district or districts, whether formed or in the process of formation, without first obtaining Beneficiary’s express written consent, the rights of
Beneficiary in the Property pursuant to this Deed of Trust or following any foreclosure of this Deed of Trust, and the rights of any person or entity to whom Beneficiary might transfer the Property following a foreclosure of this Deed of Trust,
shall be senior and superior to any taxes, charges, fees, assessments or other impositions of any kind or nature whatsoever, or liens (whether statutory, contractual or otherwise) levied or imposed, or to be levied or imposed, upon the Property or
any portion thereof as a result of inclusion of the Property in such district or districts. 
 5.7 Transfer or Removal of Chattels.
Grantor will not sell, transfer or remove from the Property all or any part of the Chattels, unless the items sold, transferred, or removed are simultaneously replaced with similar items of equal or greater value. 
  

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 5.8 Change of Name, Organizational I.D. No. or Location. Grantor will not change its name or the
name under which it does business (or adopt or begin doing business under any other name or assumed or trade name), change its organizational identification number, or change its location, without first notifying Beneficiary of its intention to do
so and delivering to Beneficiary such organizational documents of Grantor and executed modifications or supplements to this Deed of Trust (and to any financing statement which may be filed in connection herewith) as Beneficiary may require. For
purposes of the foregoing, Grantor’s “location” shall mean (a) if Grantor is a registered organization, Grantor’s state of registration, (b) if Grantor is an individual, the state of Grantor’s principal residence,
or (c) if Grantor is neither a registered organization nor an individual, the state in which Grantor’s place of business (or, if Grantor has more than one place of business, the Grantor’s chief executive office) is located.

 5.9 Improper Use of Property or Chattels. Grantor will not use the Property or the Chattels for any purpose or in any manner which
violates any applicable law, ordinance, or other governmental requirement, the requirements or conditions of any insurance policy, or any private covenant. 
 5.10 ERISA. Grantor shall not engage in any transaction which would cause the Note (or the exercise by Beneficiary of any of its rights under the Loan Documents) to be a non-exempt, prohibited transaction under
ERISA (including for this purpose the parallel provisions of Section 4975 of the Internal Revenue Code of 1986, as amended), or otherwise result in Beneficiary being deemed in violation of any applicable provisions of ERISA. Grantor shall
indemnify, protect, defend, and hold Beneficiary harmless from and against any and all losses, liabilities, damages, claims, judgments, costs, and expenses (including, without limitation attorneys’ fees and costs incurred in the investigation,
defense, and settlement of claims and in obtaining any individual ERISA exemption or state administrative exception that may be required, in Beneficiary’s sole and absolute discretion) that Beneficiary may incur, directly or indirectly, as the
result of the breach by Grantor of any warranty or representation set forth in Section 3.3(x) hereof or the breach by Grantor of any covenant contained in this Section. This indemnity shall survive any termination, satisfaction or foreclosure
of this Deed of Trust and shall not be subject to the limitation on personal liability described in the Note. 
 5.11 Use of Proceeds.
Grantor will not use any funds advanced by Beneficiary under the Loan Documents for household or agricultural purposes, to purchase margin stock, or for any purpose prohibited by law. 
 5.12 Single Purpose Entity. Grantor shall not engage in any business other than the ownership, development, operation and disposition of the
Property, and shall not own any assets other than those related to the Property, and shall not incur any subordinated debt or unsecured debt except customary lease financings of non-fixture equipment in the ordinary course of Grantor’s business
and except to trade creditors and service providers in the ordinary course of Grantor’s business. 
  

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 Article 6 
 EVENTS OF DEFAULT 
 Each of the following events will constitute an event of default (an “Event
of Default”) under this Deed of Trust and under each of the other Loan Documents: 
 6.1 Failure to Make Payments.
Grantor’s failure to make any payment due: (a) under the terms of the Note within five (5) days after the date such payment becomes due; or (b) under the terms of any other Loan Document when due, provided, however, that
whether or not stated in the applicable provision of any Loan Document, any payment or reimbursement obligation of Grantor (excluding, however, payments due under the Note) shall be due and payable within five (5) days following notice and
demand therefor from Beneficiary to Grantor. The notice and cure right described in clause (b) of the preceding sentence shall terminate upon transfer of the Property by the initial Grantor named herein pursuant to the provisions of
Section 5.4(c), above. 
 6.2 Due on Sale or Encumbrance. The occurrence of any violation of any covenant contained in
Section 5.4, 5.5 or 5.7 hereof. 
 6.3 Other Obligations. The failure of Grantor to properly perform any obligation contained
herein or in any of the other Loan Documents (other than the obligation to make payments under the Note or the other Loan Documents) and the continuance of such failure for a period of thirty (30) days following written notice thereof from
Beneficiary to Grantor; provided, however, that if such failure is not curable within such thirty (30) day period, then, so long as Grantor commences to cure such failure within such thirty (30) day period and is continually and diligently
attempting to cure to completion, such failure shall not constitute an Event of Default. 
 6.4 Levy Against Property. The levy
against any of the Property, Chattels or Intangible Personalty, of any execution, attachment, sequestration or other writ and the same is not released within sixty (60) days. 
 6.5 Liquidation. The liquidation, termination or dissolution of Grantor. 
 6.6 Appointment of Receiver. The appointment of a trustee or receiver for the assets, or any part thereof, of Grantor, or the appointment of a
trustee or receiver for any real or personal property, or the like, or any part thereof, representing the security for the Secured Obligations and the same is not terminated within sixty (60) days. 
 6.7 Assignments. The making by Grantor of a transfer in fraud of creditors or an assignment for the benefit of creditors. 
 6.8 Order for Relief. The entry in bankruptcy of an order for relief for or against Grantor and the same is not terminated within
sixty (60) days. 
 6.9 Bankruptcy. The filing of any petition (or answer admitting the material allegations of any
petition), or other pleading, seeking entry of an order for relief for or against 

  

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Grantor as a debtor or bankrupt or seeking an adjustment of any of such parties’ debts, or any other relief under any state or federal bankruptcy,
reorganization, debtor’s relief or insolvency laws now or hereafter existing, including, without limitation, a petition or answer seeking reorganization or admitting the material allegations of a petition filed against any such party in any
bankruptcy or reorganization proceeding, or the act of any of such parties in instituting or voluntarily being or becoming a party to any other judicial proceedings intended to effect a discharge of the debts of any such parties, in whole or in
part, or a postponement of the maturity or the collection thereof, or a suspension of any of the rights or powers of a trustee or of any of the rights or powers granted to Beneficiary herein, or in any other document executed in connection herewith.
Notwithstanding the foregoing, the filing of an involuntary bankruptcy petition against Grantor shall not constitute an Event of Default hereunder if such petition is dismissed within sixty (60) days after the date of such filing. 

6.10 Misrepresentation. If any representation or warranty made by Grantor in this Deed of Trust, any of the other Loan Documents, the Loan
Application or any other instrument or document modifying, renewing, extending, evidencing, securing or pertaining to the Note is false, misleading or erroneous in any material respect when made and shall cause a Material Adverse Effect. 

6.11 Judgments. The failure of Grantor to pay any money judgment in excess of $100,000.00 against any such party before the expiration of
thirty (30) days after such judgment becomes final and no longer appealable. 
 6.12 Admissions Regarding Debts. The
admission of Grantor in writing of its inability to pay its debts as they become due. 
 6.13 Assertion of Priority. The assertion of
any claim of priority over this Deed of Trust, by title, lien, or otherwise, unless Grantor within thirty (30) days after such assertion either causes the assertion to be withdrawn or provides Beneficiary with such security as Beneficiary may
require to protect Beneficiary against all loss, damage, or expense, including attorneys’ fees, which Beneficiary may incur in the event such assertion is upheld. 
 6.14 Other Loan Documents. The occurrence of any default by Grantor, after the lapse of any applicable grace or cure period, or the occurrence of any event or circumstance defined as an Event of Default, under
any of the Loan Documents other than this Deed of Trust. 
 6.15 Other Liens. The occurrence of any default by Grantor, after the
lapse of any applicable grace or cure period, or the occurrence of any event or circumstance defined as an Event of Default, under any other consensual lien encumbering the Property, or any part thereof or interest therein, or any document or
instrument evidencing obligations secured thereby. 
 Article 7 
 BENEFICIARY’S REMEDIES 
 Immediately upon or any time after the occurrence
of any Event of Default hereunder, Beneficiary may exercise any remedy available at law or in equity, including but not limited to those listed below and those listed in the other Loan Documents, in such sequence or combination as Beneficiary may
determine in Beneficiary’s sole discretion: 
  

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 7.1 Performance of Defaulted Obligations. Beneficiary may make any payment or perform any other
obligation under the Loan Documents or under Leases which Grantor has failed to make or perform, and Grantor hereby irrevocably appoints Beneficiary as the true and lawful attorney-in-fact for Grantor to make any such payment and perform any such
obligation in the name of Grantor. All payments made and expenses (including attorneys’ fees and expenses) incurred by Beneficiary in this connection, together with interest thereon at the Default Rate from the date paid or incurred until
repaid, will be part of the Secured Obligations and will be immediately due and payable by Grantor to Beneficiary. In lieu of advancing Beneficiary’s own funds for such purposes, Beneficiary may use any funds of Grantor which may be in
Beneficiary’s possession, including but not limited to insurance or condemnation proceeds and amounts deposited for taxes, insurance premiums, or other purposes. 
 7.2 Specific Performance and Injunctive Relief. Notwithstanding the availability of legal remedies, Beneficiary will be entitled to obtain specific performance, mandatory or prohibitory injunctive relief, or
other equitable relief requiring Grantor to cure or refrain from repeating any Default. 
 7.3 Acceleration of Secured Obligations.
Beneficiary may, without notice or demand, declare all of the Secured Obligations immediately due and payable in full. 
 7.4 Suit for
Monetary Relief. Subject to the non-recourse provisions of the Note, with or without accelerating the maturity of the Secured Obligations, Beneficiary may sue from time to time for any payment due under any of the Loan Documents, or for money
damages resulting from Grantor’s default under any of the Loan Documents. 
 7.5 Possession of Property. Beneficiary may enter
and take possession of the Property without seeking or obtaining the appointment of a receiver, may employ a managing agent for the Property, and may lease or rent all or any part of the Property, either in Beneficiary’s name or in the name of
Grantor, and may collect the rents, issues, and profits of the Property. Any revenues collected by Beneficiary under this Section will be applied first toward payment of all expenses (including attorneys’ fees) incurred by Beneficiary,
together with interest thereon at the Default Rate from the date incurred until repaid, and the balance, if any, will be applied against the Secured Obligations. 
 7.6 Enforcement of Security Interests. Beneficiary may exercise all rights of a secured party under the Code with respect to the Chattels and the Intangible Personalty, including but not limited to taking
possession of, holding, and selling the Chattels and enforcing or otherwise realizing upon any accounts and general intangibles. Any requirement for reasonable notice of the time and place of any public sale, or of the time after which any private
sale or other disposition is to be made, will be satisfied by Beneficiary’s giving of such notice to Grantor at least five days prior to the time of any public sale or the time after which any private sale or other intended disposition is to be
made. 
  

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 7.7 Foreclosure Against Property. 
 (a) Beneficiary may foreclose this Deed of Trust, insofar as it encumbers the Property, either by judicial action or through Trustee. Foreclosure through
Trustee will be initiated by Beneficiary’s request to Trustee to sell the Property in accordance with the laws of the State of Oregon at public auction to the highest bidder. Upon receipt of such written notice, Trustee shall promptly comply
with all notice, publication and other requirements of the laws of Oregon then in force with respect to such sales. The proceeds of any sale under this Section shall be applied first to the fees and expenses of sale, including a reasonable
Trustee’s fee and attorney’s fee, and then to the reduction or discharge of the Secured Obligations; any surplus remaining shall be paid over to Grantor or to such other person or persons as may be lawfully entitled to such surplus. At the
conclusion of any foreclosure sale, Trustee shall execute and deliver to the purchaser at the sale its deed, without warranty, which shall convey to purchaser the interest in the Property, which Grantor had or had power to convey at the time of its
execution of this Deed of Trust, and such as it may have acquired thereafter. Trustee’s deed shall recite facts showing the sale was conducted in compliance with all requirements of the law and this Deed of Trust, which recitals shall be prima
facie evidence of such compliance and conclusive evidence thereof in favor of bona fide purchasers and encumbrances. Nothing in this Section dealing with foreclosure procedures or specifying particular actions to be taken by Beneficiary or by
Trustee or any similar officer shall be deemed to contradict or add to the requirements and procedures now or hereafter specified by Oregon law, and any such inconsistency shall be resolved in favor of Oregon law applicable at the time of
foreclosure. 
 (b) The purchaser at any trustee’s or foreclosure sale hereunder may disaffirm any easement granted, or rental, Lease
or other contract made, in violation of any provision of this Deed of Trust, and may take immediate possession of the Property free from, and despite the terms of, such grant of easement and rental or Lease contract. 
 (c) Beneficiary shall have the right to become the purchaser at all sales to enforce this trust, being the highest bidder, and to have the Secured
Obligations owing, or any part thereof, credited against the amount for which such property is sold. 
 7.8 Appointment of Receiver.
To the extent permitted by law, Beneficiary shall be entitled, as a matter of absolute right and without regard to the value of any security for the Secured Obligations or the solvency of any person liable therefor, to the appointment of a
receiver for the Property upon ex-parte application to any court of competent jurisdiction. Grantor waives any right to any hearing or notice of hearing prior to the appointment of a receiver. Such receiver and its agents shall be empowered, but
shall not be obligated, to (a) take possession of the Property and any businesses conducted by Grantor or any other person thereon and any business assets used in connection therewith, (b) exclude Grantor and Grantor’s agents,
servants, and employees from the Property, (c) collect the rents, issues, profits, and income therefrom, (d) complete any construction which may be in progress, (e) do such maintenance and make such repairs and alterations as the
receiver deems necessary, (f) use all stores of materials, supplies, and maintenance equipment on the Property and replace such items at the expense of the receivership estate, (g) pay all taxes and assessments against the Property and the
Chattels, all premiums for insurance thereon, all utility and other operating expenses, and all sums due 

  

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under any prior or subsequent encumbrance, and (h) generally do anything which Grantor could legally do if Grantor were in possession of the Property.
All expenses incurred by the receiver or its agents shall constitute a part of the Secured Obligations. Any revenues collected by the receiver shall be applied first to the expenses of the receivership, including reasonable attorneys’ fees
incurred by the receiver and by Beneficiary, together with interest thereon at the Default Rate from the date incurred until repaid, and the balance shall be applied toward the Secured Obligations or in such other manner as the court may direct.
Unless sooner terminated with the express consent of Beneficiary, any such receivership will continue until the Secured Obligations have been discharged in full, or until title to the Property has passed after foreclosure sale and all applicable
periods of redemption have expired. 
 7.9 Right to Make Repairs, Improvements. Should any part of the Property come into the
possession of Beneficiary, whether before or after an Event of Default, Beneficiary may, but shall not be obligated to, use, operate, and/or make repairs, alterations, additions and improvements to the Property for the purpose of preserving it or
its value. Grantor covenants to promptly reimburse and pay to Beneficiary, at the place where the Note is payable, or at such other place as may be designated by Beneficiary in writing, the amount of all reasonable expenses (including the cost of
any insurance, taxes, or other charges) incurred by Beneficiary in connection with its custody, preservation, use or operation of the Property, together with interest thereon from the date incurred by Beneficiary at the Default Rate, and all such
expenses, costs, taxes, interest, and other charges shall be a part of the Secured Obligations. It is agreed, however, that the risk of accidental loss or damage to the Property is undertaken by Grantor and Beneficiary shall have no liability
whatsoever for decline in value of the Property, for failure to obtain or maintain insurance, or for failure to determine whether any insurance ever in force is adequate as to amount or as to the risks insured. 
 7.10 Surrender of Insurance. Beneficiary may surrender the insurance policies maintained pursuant to the terms hereof, or any part thereof, and
receive and apply the unearned premiums as a credit on the Secured Obligations and, in connection therewith, Grantor hereby appoints Beneficiary (or any officer of Beneficiary), as the true and lawful agent and attorney-in-fact for Grantor (with
full powers of substitution), which power of attorney shall be deemed to be a power coupled with an interest and therefore irrevocable, to collect such premiums. 
 7.11 Prima Facie Evidence. Grantor agrees that, in any assignments, deeds, bills of sale, notices of sale, or postings, given by Beneficiary, any and all statements of fact or other recitals
therein made as to the identity of Beneficiary, or as to the occurrence or existence of any Event of Default, or as to the acceleration of the maturity of the Secured Obligations, or as to the request to sell, posting of notice of sale, notice of
sale, time, place, terms and manner of sale and receipt, distribution and application of the money realized therefrom, and without being limited by the foregoing, as to any other act or thing having been duly done by Beneficiary, shall be taken by
all courts of law and equity as prima facie evidence that such statements or recitals state facts and are without further question to be so accepted, and Grantor does hereby ratify and confirm any and all acts that Beneficiary may
lawfully do by virtue hereof. 
 7.12 Collateral for All Obligations. Grantor acknowledges that the Property is collateral for the
full amount of the Secured Obligations. Neither Beneficiary nor Trustee shall 

  

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be required to marshal all or any part of the Property or proceed against all or any part of the Property in any particular sequence, and Beneficiary shall
not be limited in the amount it can recover from the Property to satisfy the Secured Obligations. 
 Article 8 
 ASSIGNMENT OF LEASES AND RENTS 
 8.1 Assignment of Leases and Rents. Grantor hereby unconditionally, absolutely and presently grants, transfers and assigns unto Beneficiary, all rents, royalties, issues, profits and income (“Rents”) now or hereafter due or
payable for the occupancy or use of the Property, and all Leases, whether written or oral, with all security therefor, including all guaranties thereof, now or hereafter affecting the Property; on the condition that Beneficiary hereby grants to
Grantor a license to collect and retain such Rents prior to the occurrence of any Event of Default hereunder. Such license shall be revocable by Beneficiary without notice to Grantor at any time after the occurrence of an Event of Default. Grantor
represents that the Rents and the Leases have not been heretofore sold, assigned, transferred or set over by any instrument now in force and will not at any time during the life of this assignment be sold, assigned, transferred or set over by
Grantor or by any person or persons whomsoever; and Grantor has good right to sell, assign, transfer and set over the same and to grant to and confer upon Beneficiary the rights, interest, powers and authorities herein granted and conferred. Failure
of Beneficiary at any time or from time to time to enforce the assignment of Rents and Leases under this Section shall not in any manner prevent its subsequent enforcement, and Beneficiary is not obligated to collect anything hereunder, but is
accountable only for sums actually collected. 
 8.2 Further Assignments. Grantor shall give Beneficiary at any time upon demand any
further or additional forms of assignment or transfer of such Rents, Leases and security as may be reasonably requested by Beneficiary, and shall deliver to Beneficiary executed copies of all such Leases and security. 
 8.3 Application of Rents. Beneficiary shall be entitled to deduct and retain a just and reasonable compensation from monies received hereunder for
its services or that of its agents in collecting such monies. Any monies received by Beneficiary hereunder may be applied when received from time to time in payment of any taxes, assessments or other liens affecting the Property regardless of the
delinquency, such application to be in such order as Beneficiary may determine. The acceptance of this Deed of Trust by Beneficiary or the exercise of any rights by it hereunder shall not be, or be construed to be, an affirmation by it of any Lease
nor an assumption of any liability under any Lease. 
 8.4 Collection of Rents. Upon or at any time after an Event of Default shall
have occurred and be continuing, Beneficiary may declare all sums secured hereby immediately due and payable, and may, at its option, without notice, and whether or not the Secured Obligations shall have been declared due and payable, either in
person or by agent, with or without bringing any action or proceeding, or by a receiver to be appointed by a court, (i) enter upon, take possession of, manage and operate the Property, or any part thereof (including without limitation making
necessary repairs, alterations and improvements to the Property); 

  

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(ii) make, cancel, enforce or modify Leases; (iii) obtain and evict tenants; (iv) fix or modify Rents; (v) do any acts which Beneficiary
deems reasonably proper to protect the security thereof; and (vi) either with or without taking possession of the Property, in its own name sue for or otherwise collect and receive such Rents, including those past due and unpaid. In connection
with the foregoing, Beneficiary shall be entitled and empowered to employ attorneys, and management, rental and other agents in and about the Property and to effect the matters which Beneficiary is empowered to do, and in the event Beneficiary shall
itself effect such matters, Beneficiary shall be entitled to charge and receive reasonable management, rental and other fees therefor as may be customary in the area in which the Property is located; and the reasonable fees, charges, costs and
expenses of Beneficiary or such persons shall be additional Secured Obligations. Beneficiary may apply all funds collected as aforesaid, less costs and expenses of operation and collection, including reasonable attorneys’ and agents’ fees,
charges, costs and expenses, as aforesaid, upon any Secured Obligations, and in such order as Beneficiary may determine. The entering upon and taking possession of the Property, the collection of such Rents and the application thereof as aforesaid
shall not cure or waive any default or waive, modify or affect notice of default under the Note or this Deed of Trust or invalidate any act done pursuant to such notice. 
 8.5 Authority of Beneficiary. Any tenants or occupants of any part of the Property are hereby authorized to recognize the claims of Beneficiary hereunder without investigating the reason for any action taken by
Beneficiary, or the validity or the amount of indebtedness owing to Beneficiary, or the existence of any default in the Note or this Deed of Trust, or under or by reason of this assignment of Rents and Leases, or the application to be made by
Beneficiary of any amounts to be paid to Beneficiary and regardless of whether Beneficiary has taken possession of any other portion of the Property. The sole signature of Beneficiary shall be sufficient for the exercise of any rights under this
assignment and the sole receipt of Beneficiary for any sums received shall be a full discharge and release therefor to any such tenant or occupant of the Property. Checks for all or any part of the rentals collected under this assignment of Rents
and Leases shall be drawn to the exclusive order of Beneficiary. 
 8.6 Indemnification of Beneficiary. Nothing herein contained shall
be deemed to obligate Beneficiary to perform or discharge any obligation, duty or liability of any lessor under any Lease of the Property, deem Beneficiary a “mortgagee in possession” prior to actual entry upon and taking possession of the
Property, and Grantor shall and does hereby indemnify and hold Beneficiary harmless from any and all liability, loss or damage which Beneficiary may or might incur under any Lease of the Property or by reason of this assignment; and any and all such
liability, loss or damage incurred by Beneficiary, together with the costs and expenses, including reasonable attorneys’ fees, incurred by Beneficiary in defense of any claims or demands therefor (whether successful or not), shall be additional
Secured Obligations, and Grantor shall reimburse Beneficiary therefor on demand. 
 Article 9 
 MISCELLANEOUS PROVISIONS 
 9.1 Time
of the Essence. Time is of the essence with respect to all of Grantor’s obligations under the Loan Documents. 
  

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 9.2 Joint and Several Obligations. If Grantor is more than one person or entity, then (a) all
persons or entities comprising Grantor are jointly and severally liable for all of the Secured Obligations; (b) all representations, warranties, and covenants made by Grantor shall be deemed representations, warranties, and covenants of each of
the persons or entities comprising Grantor; (c) any breach, Default or Event of Default by any persons or entities comprising Grantor hereunder shall be deemed to be a breach, Default or Event of Default of Grantor; (d) any reference
herein contained to the knowledge or awareness of Grantor shall mean the knowledge or awareness of any of the persons or entities comprising Grantor; and (e) any event creating personal liability of any of the persons or entities comprising
Grantor shall create personal liability for all such persons or entities. 
 9.3 Waiver of Homestead and Other Exemptions; Commercial
Property. To the extent permitted by law, Grantor hereby waives all rights to any homestead or other exemption to which Grantor would otherwise be entitled under any present or future constitutional, statutory, or other provision of applicable
state or federal law. Grantor hereby waives any right it may have to require Beneficiary to marshal all or any portion of the security for the Secured Obligations. Grantor covenants and warrants that the Property is used by Grantor exclusively for
business and commercial purposes and is not and will not be occupied as the principal residence of Grantor or Grantor’s spouse or Grantor’s minor or dependent children. 
 9.4 Non-Recourse; Exceptions to Non-Recourse. Except as expressly set forth in the Note, the recourse of Beneficiary with respect to the
obligations evidenced by the Note, this Deed of Trust and the other Loan Documents shall be solely to the Property, Chattels and Intangible Personalty, and any other collateral given as security for the Note. 
 9.5 Rights and Remedies Cumulative. Beneficiary’s rights and remedies under each of the Loan Documents are cumulative of the rights and
remedies available to Beneficiary under each of the other Loan Documents and those otherwise available to Beneficiary at law or in equity. No act of Beneficiary shall be construed as an election to proceed under any particular provision of any Loan
Document to the exclusion of any other provision in the same or any other Loan Document, or as an election of remedies to the exclusion of any other remedy which may then or thereafter be available to Beneficiary. 
 9.6 No Implied Waivers. Beneficiary shall not be deemed to have waived any provision of any Loan Document unless such waiver is in writing and is
signed by Beneficiary. Without limiting the generality of the preceding sentence, neither Beneficiary’s acceptance of any payment with knowledge of a Default by Grantor, nor any failure by Beneficiary to exercise any remedy following a Default
by Grantor shall be deemed a waiver of such Default, and no waiver by Beneficiary of any particular Default on the part of Grantor shall be deemed a waiver of any other Default or of any similar Default in the future. 
 9.7 No Third-Party Rights. No person shall be a third-party beneficiary of any provision of any of the Loan Documents. All provisions of the Loan
Documents favoring Beneficiary are intended solely for the benefit of Beneficiary, and no third party shall be entitled to assume or expect that Beneficiary will waive or consent to modification of any such provision in Beneficiary’s sole
discretion. 
  

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 9.8 Preservation of Liability and Priority. Without affecting the liability of Grantor or of any
other person (except a person expressly released in writing) for payment and performance of all of the Secured Obligations, and without affecting the rights of Beneficiary with respect to any security not expressly released in writing, and without
impairing in any way the priority of this Deed of Trust over the interests of any person acquired or first evidenced by recording subsequent to the recording hereof, Beneficiary may, either before or after the maturity of the Note, and without
notice or consent: (a) release any person liable for payment or performance of all or any part of the Secured Obligations; (b) make any agreement altering the terms of payment or performance of all or any of the Secured Obligations;
(c) exercise or refrain from exercising, or waive, any right or remedy which Beneficiary may have under any of the Loan Documents; (d) accept additional security of any kind for any of the Secured Obligations; or (e) release or
otherwise deal with any real or personal property securing the Secured Obligations. Any person acquiring or recording evidence of any interest of any nature in the Property, the Chattels, or the Intangible Personalty shall be deemed, by acquiring
such interest or recording any evidence thereof, to have agreed and consented to any or all such actions by Beneficiary. 
 9.9
Subrogation of Beneficiary. Beneficiary shall be subrogated to the lien of any previous encumbrance discharged with funds advanced by Beneficiary under the Loan Documents, regardless of whether such previous encumbrance has been released of
record. 
 9.10 Notices. Any notice required or permitted to be given by Grantor or Beneficiary under this Deed of Trust shall be in
writing and will be deemed given (a) upon personal delivery, (b) on the first business day after receipted delivery to a courier service which guarantees next-business-day delivery, or (c) on the third business day after mailing, by
registered or certified United States mail, postage prepaid, in any case to the appropriate party at its address set forth below: 
 If to
Grantor: 
 KBS ADP Plaza, LLC 
 c/o KBS Capital Advisors LLC 
 620 Newport Center Drive 
 Suite 1300 
 Newport Beach, California 92660 
 Attention: Ms. Stacie Yamane 
 and: 
 KBS
ADP Plaza, LLC 
 c/o KBS Capital Advisors LLC 
 201 California Street 
 Suite 470 
 San Francisco, California 94111 
 Attention: Mr. Steve Silva 
  

 39 

 with a copy to: 
 Morgan Lewis & Bockius LLP 
 5 Park Plaza, Suite 1750 
 Irvine, California 92614 
 Attention: Bruce Fischer, Esq. 
 If to Beneficiary: 
 American General Life Insurance Company 
 c/o AIG Global Investment Corp. 
 1 SunAmerica Center, 38th
 Floor 
 Century City 
 Los Angeles, California 90067-6022 
 Attention: Director-Mortgage Lending and Real Estate 
 Either party may change such party’s address for notices or
copies of notices by giving notice to the other party in accordance with this Section. 
 9.11 Defeasance. Upon payment and
performance in full of all of the Secured Obligations, Beneficiary will execute and deliver to Grantor such documents as may be required to release this Deed of Trust of record. 
 9.12 Illegality. If any provision of this Deed of Trust is held to be illegal, invalid, or unenforceable under present or future laws effective
during the term of this Deed of Trust, the legality, validity, and enforceability of the remaining provisions of this Deed of Trust shall not be affected thereby, and in lieu of each such illegal, invalid or unenforceable provision there shall be
added automatically as a part of this Deed of Trust a provision as similar in terms to such illegal, invalid, or unenforceable provision as may be possible and be legal, valid, and enforceable. If the rights and liens created by this Deed of Trust
shall be invalid or unenforceable as to any part of the Secured Obligations, then the unsecured portion of the Secured Obligations shall be completely paid prior to the payment of the remaining and secured portion of the Secured Obligations, and all
payments made on the Secured Obligations shall be considered to have been paid on and applied first to the complete payment of the unsecured portion of the Secured Obligations. 
 9.13 Usury Savings Clause. It is expressly stipulated and agreed to be the intent of Beneficiary and Grantor at all times to comply with the
applicable law governing the highest lawful interest rate. If the applicable law is ever judicially interpreted so as to render usurious any amount called for under the Note or under any of the other Loan Documents, or contracted for, charged,
taken, reserved or received with respect to the Loan, or if acceleration of the maturity of the Note, any prepayment by Grantor, or any other circumstance whatsoever, results in Grantor having paid any interest in excess of that permitted by
applicable law, then it is the express intent of Grantor and Beneficiary that all excess amounts theretofore collected by Beneficiary be credited on the principal balance of the Note (or, at Beneficiary’s option, paid over to Grantor), and the
provisions of the Note and other Loan Documents immediately be deemed reformed and the amounts thereafter collectible hereunder and thereunder reduced, 

  

 40 

 
without the necessity of the execution of any new document, so as to comply with the applicable law, but so as to permit the recovery of the fullest amount
otherwise called for hereunder and thereunder. The right to accelerate maturity of the Note does not include the right to accelerate any interest which has not otherwise accrued on the date of such acceleration, and Beneficiary does not intend to
collect any unearned interest in the event of acceleration. All sums paid or agreed to be paid to Beneficiary for the use, forbearance or detention of the Secured Obligations evidenced hereby or by the Note shall, to the extent permitted by
applicable law, be amortized, prorated, allocated and spread throughout the full term of such Secured Obligations until payment in full so that the rate or amount of interest on account of such Secured Obligations does not exceed the maximum rate or
amount of interest permitted under applicable law. The term “applicable law” as used herein shall mean any federal or state law applicable to the Loan. 
 9.14 Obligations Binding Upon Grantor’s Successors. This Deed of Trust is binding upon Grantor and Grantor’s successors and assigns, and shall inure to the benefit of Beneficiary, and its successors
and assigns, and the provisions hereof shall likewise be covenants running with the land. The duties, covenants, conditions, obligations, and warranties of Grantor in this Deed of Trust shall be joint and several obligations of Grantor and
Grantor’s successors and assigns. 
 9.15 Construction. All pronouns and any variations of pronouns herein shall be deemed to
refer to the masculine, feminine, or neuter, singular or plural, as the identity of the parties may require. Whenever the terms herein are singular, the same shall be deemed to mean the plural, as the identity of the parties or the context requires.

 9.16 Attorneys’ Fees. Any reference in this Deed of Trust to attorneys’ or counsel’s fees paid or incurred by
Beneficiary shall be deemed to include paralegals’ fees and legal assistants’ fees. Moreover, wherever provision is made herein for payment of attorneys’ or counsel’s fees or expenses incurred by Beneficiary, such provision shall
include but not be limited to, such fees or expenses incurred in any and all judicial, bankruptcy, reorganization, administrative, or other proceedings, including appellate proceedings, whether such fees or expenses arise before proceedings are
commenced, during such proceedings or after entry of a final judgment. 
 9.17 Waiver and Agreement. GRANTOR HEREBY EXPRESSLY WAIVES
ANY RIGHT IT MAY HAVE UNDER APPLICABLE LAW TO PREPAY THE NOTE, IN WHOLE OR IN PART, WITHOUT PREPAYMENT CHARGE, UPON ACCELERATION OF THE MATURITY DATE OF THE NOTE, AND AGREES THAT, IF FOR ANY REASON A PREPAYMENT OF ALL OR ANY PART OF THE NOTE IS
MADE, WHETHER VOLUNTARILY OR FOLLOWING ANY ACCELERATION OF THE MATURITY DATE OF THE NOTE BY BENEFICIARY ON ACCOUNT OF THE OCCURRENCE OF ANY EVENT OF DEFAULT ARISING FOR ANY REASON, INCLUDING, WITHOUT LIMITATION, AS A RESULT OF ANY PROHIBITED OR
RESTRICTED TRANSFER, FURTHER ENCUMBRANCE OR DISPOSITION OF THE PROPERTY OR ANY PART THEREOF SECURING THE NOTE, THEN GRANTOR SHALL BE OBLIGATED TO PAY, CONCURRENTLY WITH SUCH PREPAYMENT, THE PREPAYMENT PREMIUM PROVIDED FOR IN THE NOTE (OR, IN THE
EVENT OF ACCELERATION WHEN THE NOTE IS CLOSED TO PREPAYMENT, AS PROVIDED IN THE DEFINITION OF 

  

 41 

 
“SECURED OBLIGATIONS” SET FORTH IN ARTICLE 1 HEREOF). GRANTOR HEREBY DECLARES THAT BENEFICIARY’S AGREEMENT TO MAKE THE LOAN AT THE
INTEREST RATE AND FOR THE TERM SET FORTH IN THE NOTE CONSTITUTES ADEQUATE CONSIDERATION, GIVEN INDIVIDUAL WEIGHT BY GRANTOR, FOR THIS WAIVER AND AGREEMENT. 
 9.18 Waiver of Jury Trial. BENEFICIARY AND GRANTOR KNOWINGLY, IRREVOCABLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY RIGHT EITHER MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY ACTION, PROCEEDING OR COUNTERCLAIM
BASED ON THIS DEED OF TRUST, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS DEED OF TRUST OR ANY LOAN DOCUMENT, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENT (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY HERETO OR TO ANY LOAN
DOCUMENT. THIS PROVISION IS A MATERIAL INDUCEMENT FOR BENEFICIARY AND GRANTOR TO ENTER INTO THE LOAN. 
 9.19 Governing Laws. The
substantive laws of the State of Oregon shall govern the validity, construction, enforcement, and interpretation of this Deed of Trust. 
 9.20 Entire Agreement; Inconsistency. The Loan Documents and the Loan Application constitute the entire understanding and agreement between Grantor and Beneficiary with respect to the Loan and supersede all prior agreements,
understandings or negotiations with respect thereto, whether written or oral. In the event of any inconsistency between the terms of the Loan Documents and the terms the Loan Application, the terms of the Loan Documents shall govern and control in
all respects. 
 9.21 Anti-Terrorism. Grantor represents, warrants and covenants to Beneficiary that: 
 (a) Neither Grantor, nor or any of its constituents, affiliates, members, officers, directors or any individual who has the authority to execute or
authorize, or who has been authorized to execute, and/or whose consent is required for the execution of the Loan Documents on behalf of Grantor is in violation of any laws relating to terrorism or money laundering, including without limitation,
Executive Order No. 13224 on Terrorist Financing, effective September 24, 2001, and relating to Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism, (as the same has been, or may
hereafter be, renewed, extended, amended or replaced, the “Executive Order”) and the Bank Secrecy Act (31 U.S.C. § 5311 et seq.), as amended by the Uniting and Strengthening America by Providing Appropriate Tools
Required to Intercept and Obstruct Terrorism Act of 2001 (Public Law 107-56, as the same has been, or may hereafter be, renewed, extended, amended or replaced, the “Patriot Act”). As used herein, “Anti-Terrorism Laws” shall mean
any laws relating to terrorism or money laundering, including the Executive Order, the Patriot Act, the laws comprising or implementing the Bank Secrecy Act, and the laws administered by the United States Treasury Department’s Office of
Foreign Asset Control (as any of the foregoing laws may from time to time be renewed, extended, amended, or replaced). 
  

 42 

 (b) Neither Grantor, nor any of its constituents, affiliates, members, officers, directors or any
individual who has the authority to execute or authorize, or who has been authorized to execute, and/or whose consent is required for the execution of the Loan Documents on behalf of Grantor, any person having a beneficial interest in Grantor, any
person for whom Grantor is acting as agent or nominee, or, to Grantor’s actual knowledge without inquiry, any of its respective brokers or other agents acting in any capacity in connection with the Loan or, to Grantor’s knowledge as of the
date hereof, Grantor’s predecessor in interest to the Property is a “Prohibited Person,” which is defined as follows: 
 (i) a
person or entity that is listed in the Annex to, or is otherwise subject to the provisions of, the Executive Order; 
 (ii) a person or
entity owned or controlled by, or acting for or on behalf of, any person or entity that is listed in the Annex to, or is otherwise subject to the provisions of, the Executive Order; 
 (iii) a person or entity with whom Beneficiary or any bank or other institutional lender is prohibited from dealing or otherwise engaging in any
Anti-Terrorism Law; 
 (iv) a person or entity who commits, threatens or conspires to commit or supports “terrorism” as defined in
the Executive Order; 
 (v) a person or entity that is named as a “specially designated national” or “blocked person” on
the most current list published by the U.S. Treasury Department Office of Foreign Assets Control at its official Website, http://www.treas.gov/ofac/t11sdn.pdf or at any replacement Website or other replacement official publication of such list; and

 (vi) a person or entity who is affiliated with a person or entity listed above. 
 (c) Neither Grantor, nor any of its constituents, affiliates, members, officers, directors or any individual who has the authority to execute or
authorize, or who has been authorized to execute, and/or whose consent is required for the execution of the Loan Documents on behalf of Grantor, or, to Grantor’s actual knowledge without inquiry, any of their respective brokers or other agents
acting in any capacity in connection with the Loan or, to Grantor’s knowledge as of the date hereof, the seller of the Property (if any portion of the Property is being acquired with proceeds of the Loan), does or shall (i) conduct any
business or engage in any transaction or dealing with any Prohibited Person, including making or receiving any contribution of funds, goods or services to or for the benefit of any Prohibited Person or leasing any portion of the Property to any
Prohibited Person, (ii) deal in, or otherwise engage in any transaction relating to, any property or interests in property blocked pursuant to the Executive Order, or (iii) engage in or conspire to engage in any transaction that evades or
avoids, or has the purpose of evading or avoiding, or attempts to violate, any of the prohibitions set forth in any Anti-Terrorism Law. 
  

 43 

 (d) Grantor shall promptly deliver to Beneficiary any certification or other evidence reasonably
requested from time to time by Beneficiary confirming Grantor’s compliance with this Section. The representations, warranties and covenants set forth in this Section shall be deemed repeated and reaffirmed by Grantor as of each date that
Grantor makes a payment to Beneficiary under the Note, this Deed of Trust and the other Loan Documents or receives any payment from Beneficiary. Grantor shall promptly notify Beneficiary in writing should Grantor become aware of any change in the
information set forth in these representations, warranties and covenants. 
 9.22 Limitation on Liability. Under no circumstances
shall any of Grantor’s constituent members or partners (or any of their respective constituent partners and/or members) have any personal liability for the payment or performance of any of Grantor’s obligations under the Note, this Deed of
Trust or any other Loan Document. 
 9.23 ORS 93.040 WARNING: THE PROPERTY DESCRIBED IN THIS INSTRUMENT MAY NOT BE WITHIN A FIRE
PROTECTION DISTRICT PROTECTING STRUCTURES. THE PROPERTY IS SUBJECT TO LAND USE LAWS AND REGULATIONS, WHICH, IN FARM OR FOREST ZONES, MAY NOT AUTHORIZE CONSTRUCTION OR SITING OF A RESIDENCE AND THAT LIMIT LAWSUITS AGAINST FARMING OR FOREST PRACTICES
AS DEFINED IN ORS 30.930 IN ALL ZONES. BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT, THE PERSON TRANSFERRING FEE TITLE SHOULD INQUIRE ABOUT THE PERSON’S RIGHTS, IF ANY, UNDER ORS 197.352. BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT,
THE PERSON ACQUIRING FEE TITLE TO THE PROPERTY SHOULD CHECK WITH THE APPROPRIATE CITY OR COUNTY PLANNING DEPARTMENT TO VERIFY APPROVED USES, THE EXISTENCE OF FIRE PROTECTION FOR STRUCTURES AND THE RIGHTS OF NEIGHBORING PROPERTY OWNERS, IF ANY, UNDER
ORS 197.352. 
 [Balance of Page Intentionally Left Blank] 
  

 44 

 IN WITNESS WHEREOF, Grantor has executed and delivered this Deed of Trust as of the date first mentioned
above. 
  

											
	KBS ADP PLAZA, LLC,
	a Delaware limited liability company
		
	By:	 	KBS REIT Acquisition XXV, LLC, a Delaware limited liability company, its sole member
			
		 	By:	 	KBS REIT Properties, LLC, a Delaware limited liability company, its sole member
				
		 		 	By:	 	KBS Limited Partnership, a Delaware limited partnership, its sole member
					
		 		 		 	By:	 	KBS Real Estate Investment Trust, Inc., a Maryland corporation, general partner
						
		 		 		 		 	By:	 	 /s/ Charles J. Schreiber, Jr.

		 		 		 		 		 	Charles J. Schreiber, Jr.
		 		 		 		 		 	Chief Executive Officer

									
	State of California	 	)	  	 	  	 
		 		 	) ss	  		  	
	County of	 	  
	 	)	  		  	

 On
                    , 2007, before me,
                                        ,
personally appeared Charles J. Schreiber, Jr., personally known to me, or proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that
he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. 
 WITNESS my hand and official seal. 
  

	
	 /s/ Authorized Signatory

	Signature of Notary

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