Document:

ex101.htm

EXECUTIVE OFFICER LEVEL

 

CHIEF EXECUTIVE OFFICER

 

Palomar Medical Technologies, Inc.

2012 Incentive Compensation Program

Operating Period - January 1, 2012 to December 31, 2012

General

The amount of bonus the Chief Executive Officer (“CEO”) receives will depend on the 2012 actual performance of Palomar as compared to the Palomar 2012 Operating Plan (“the Plan”) and the CEO’s contribution toward achieving the Plan.  The payout is calculated based on the CEO’s 2012 base salary that was effective as of January 1, 2012.

Upon Palomar achieving the Bonus Levels as described below, the CEO’s bonus amount will be adjusted based on the CEO’s contribution toward achieving the Plan, including, but not limited to, the following objectives:

	
  

	
-

	
Launch two additional products in the professional market

	
  

	
-

	
Support strength of our products with clinical studies, white papers and luminary support

	
  

	
-

	
Increase North America sales by strengthening and expanding sales force

	
  

	
-

	
Increase international sales by supporting international offices

	
  

	
-

	
Increase international sales by supporting and adding distributors

	
  

	
-

	
Expand distribution for the home wrinkle treatment product to international markets

	
  

	
-

	
Manage patent litigation cases to maximize chances for favorable outcomes

Calculation of Incentive Compensation Amounts:

Target Bonus Level:

Up to 60% of base salary if Palomar achieves the Plan results from operations before other income/expense and before taxes (including the P&L charge for this Incentive Compensation Program) (“Target Results of Operations”).

Above Target Bonus Level:

Up to an additional 8% of the amount that Palomar exceeds the Target Results of Operations.

The Total Bonus payout shall be no more than 200% of the CEO’s base salary.

 

  

  

  

 

	
1.  

	
No incentive compensation will paid unless Palomar achieves the Target Results of Operations as listed above.  Even if the Target Results of Operations is achieved, the Compensation Committee of the Board of Directors (BOD) may adjust the incentive compensation based on the individual’s performance.

	
2.  

	
No incentive compensation will accrue to the benefit of any participant until December 31, 2012, at which time the participant must be an employee of Palomar.

	
3.  

	
Incentive compensation for the 2012 operating period will be paid by March 15, 2013, unless otherwise determined by the Compensation Committee of the BOD.

	
4.  

	
Where necessary the Compensation Committee of the BOD may adjust financial results to exclude unusual transactions not deemed to be part of normal current operations.

	
5.  

	
This Incentive Compensation Program may be modified for any reason without notice to the participant in part or in its entirety by the Compensation Committee of the BOD of Palomar.

	
6.  

	
Continuance of this particular Incentive Compensation Program beyond December 31, 2012 is not guaranteed.

 

 

	 	Approved by:
	 	 
	 	/s/ James G. Martin   
	 	James G. Martin
	 	Chairman of the Compensation Committee
	 	Palomar Medical Technologies, Inc.
	 	Approved by BOD on February 7, 2012

 

 

 

 

	
Received by:

	 
	 	 
	/s/ Joseph P. Caruso   	 
	
Joseph P. Caruso

	 
	
Chief Executive Officerex102.htm

EXECUTIVE OFFICER LEVEL

 

CHIEF FINANCIAL OFFICER

 

Palomar Medical Technologies, Inc.

2012 Incentive Compensation Program

Operating Period - January 1, 2012 to December 31, 2012

General

The amount of bonus the Chief Financial Officer (“CFO”) receives will depend on the 2012 actual performance of Palomar as compared to the Palomar 2012 Operating Plan (“the Plan”) and the CFO’s contribution toward achieving the Plan.  The payout is calculated based on the CFO’s 2012 base salary that was effective as of January 1, 2012.

Upon Palomar achieving the Bonus Levels as described below, the CFO’s bonus amount will be adjusted based on the CFO’s contribution toward achieving the Plan, including, but not limited to, the following objectives:

	
  

	
-

	
Launch two additional products in the professional market

	
  

	
-

	
Support strength of our products with clinical studies, white papers and luminary support

	
  

	
-

	
Increase North America sales by strengthening and expanding sales force

	
  

	
-

	
Increase international sales by supporting international offices

	
  

	
-

	
Increase international sales by supporting and adding distributors

	
  

	
-

	
Expand distribution for the home wrinkle treatment product to international markets

	
  

	
-

	
Manage patent litigation cases to maximize chances for favorable outcomes

Calculation of Incentive Compensation Amounts:

Target Bonus Level:

Up to 50% of base salary if Palomar achieves the Plan results from operations before other income/expense and before taxes (including the P&L charge for this Incentive Compensation Program) (“Target Results of Operations”).

Above Target Bonus Level:

Up to an additional 4.5% of the amount that Palomar exceeds the Target Results of Operations.

The Total Bonus payout shall be no more than 200% of the CFO’s base salary.

 

  

  

  

 

	
1.  

	
No incentive compensation will paid unless Palomar achieves the Target Results of Operations as listed above.  Even if the Target Results of Operations is achieved, the Compensation Committee of the Board of Directors (BOD) may adjust the incentive compensation based on the individual’s performance.

	
2.  

	
No incentive compensation will accrue to the benefit of any participant until December 31, 2012, at which time the participant must be an employee of Palomar.

	
3.  

	
Incentive compensation for the 2012 operating period will be paid by March 15, 2013, unless otherwise determined by the Compensation Committee of the BOD.

	
4.  

	
Where necessary the Compensation Committee of the BOD may adjust financial results to exclude unusual transactions not deemed to be part of normal current operations.

	
5.  

	
This Incentive Compensation Program may be modified for any reason without notice to the participant in part or in its entirety by the Compensation Committee of the BOD of Palomar.

	
6.  

	
Continuance of this particular Incentive Compensation Program beyond December 31, 2012 is not guaranteed.

 

 

 

	 	Approved by:
	 	 
	 	/s/ James G. Martin   
	 	James G. Martin
	 	Chairman of the Compensation Committee
	 	Palomar Medical Technologies, Inc.
	 	Approved by BOD on February 7, 2012

 

 

 

 

	
Received by:

	 
	 	 
	/s/ Paul S. Weiner   	 
	
Paul S. Weiner

	 
	
Chief Financial OfficerExhibit 10.1

SETTLEMENT AGREEMENT

          THIS
SETTLEMENT AGREEMENT (this “Agreement”) is entered into as of
February 6, 2012 (the “Effective Date”), by and among Q OLMOS
CREEK PROPERTY, LLC, a Texas limited liability company (“Lender”),
AMREIT
OLMOS CREEK, LP, a Texas limited partnership (“Borrower”), and AMREIT
MONTHLY INCOME & GROWTH FUND III, LTD., a Texas limited
partnership (“Guarantor”), on the following terms and conditions:

RECITALS:

          A.          NLI
Commercial Mortgage Fund, LLC, a Delaware limited liability company (“Original
Lender”), made a loan to Borrower in the stated principal amount
of $11,175,000.00 (the “Loan”), as evidenced by that certain
Secured Promissory Note dated October 3, 2006, in the stated principal amount
of $11,175,000.00, executed by Borrower, bearing interest and being payable to
the order of Original Lender as therein provided (the “Note”),
and being secured by, among other security, that certain Deed of Trust,
Security Agreement and Assignment of Rents dated of even date with the Note and
recorded in Book 12434, Page 1347, et seq., of the real property records
of Bexar County, Texas (the “Deed of Trust”), encumbering real
property and improvements located in Bexar County, Texas, more particularly
described in Exhibit A attached hereto (the “Project”), having an
address of 14602, 14610, 14620, 14624 and 14630 Huebner Road and 14439 NW
Military Highway, San Antonio, Texas 78230, and that certain Assignment of
Leases and Rents dated of even date with the Note and recorded as Document
Number 20060241435, in the real property records of Bexar County, Texas (the “Assignment
of Leases”);

          B.          As
additional security for the Loan, Guarantor executed that certain Guaranty
dated of even date with the Note in favor of Original Lender (the “Guaranty”),
pursuant to which Guarantor guaranteed the payment and performance of the
Guaranteed Obligations (as defined in the Guaranty) consisting of Borrower’s
liabilities and obligations under (i) that certain Environmental Indemnity
Agreement dated of even date with the Note, executed by Borrower in favor of
Original Lender (the “Environmental Indemnity”), and (ii)
paragraph 9 of the Note.

          C.          The
Loan matured on November 1, 2011. Borrower was notified by a letter sent on
behalf of Original Lender on November 2, 2011 that Borrower’s failure to pay
the Loan in full at maturity constituted a default under the Loan Documents
(defined below), and that Borrower’s subsequent failure to pay the Loan in full
on or prior to November 7, 2011 would constitute an Event of Default (as
defined in the Loan Documents) under the Loan Documents. Borrower failed to pay
the Loan in full on or prior to November 7, 2011 and an Event of Default
occurred and is continuing as of the Effective Date.

          D.          The
Loan and the Loan Documents, including without limitation, the Note (and the
right to receive payment thereunder), the Deed of Trust (and the right to
enforce any liens and/or security interests granted thereby), the Guaranty and
the Environmental Indemnity, were transferred, conveyed and assigned by
Original Lender to Lender pursuant to (1) that certain Assignment of Deed of
Trust, Security Agreement and Assignment of Rents recorded in Book 

1

15285, Page
2161, et seq., of the real property records of Bexar County, Texas, (2) that
certain Assignment of Assignment of Leases and Rents recorded in Book
15285, Page 2166, et. seq., of the real property records of Bexar
County, Texas, and (3) certain other endorsements, assignments and/or transfers
consummated on December 22, 2011.

          E.          Borrower
and Guarantor have informed Lender that Borrower is unable to pay the Loan in
full. Borrower, Guarantor and Lender desire to enter into this Agreement to
provide for the designation by Lender of itself or another entity to accept and
own the Project, in consideration for the conditional release and termination
by Lender of the responsibilities, obligations and liabilities of Borrower and
Guarantor under the Note, the Deed of Trust, the Guaranty and all other
documents evidencing, governing, securing or otherwise pertaining to the Loan
(collectively, the “Loan Documents), all subject to and in
accordance with the terms and conditions hereinafter set forth:

AGREEMENTS:

          NOW,
THEREFORE, for the premises, for Ten and No/100 Dollars ($10.00), and for other
good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Lender, Borrower and Guarantor hereby agree as follows:

          1.          Accounting.
Each of Borrower and Guarantor covenants and agrees that, in addition to and
not in limitation of any rights of Lender under the Loan Documents, for a
period of seventy-five (75) days from and after the Effective Date, Lender may
at any time during such period conduct an audit of the revenues and receipts of
the Project and the operating expenses of the Project based on books and
records of the Project provided by Borrower. Borrower shall make such books and
records available to Lender on request at the Project. Borrower warrants and
represents that to the best of Borrower’s actual knowledge, such books and
records are true and accurate in all material respects.

          2.          Conveyance
of the Project to Lender. Immediately following the execution of
this Agreement, Borrower shall convey all legal and equitable title and
interest in and to the Project to Lender by executing and delivering to Lender
the following:

                       (a)          Special
Warranty Deed (the “Deed”), in the same form, except as to
dating and execution, as the form attached hereto as Exhibit C and made
a part hereof;

                       (b)          Assignment
of Personal Property, Name, Service Contracts, Warranties, and Leases (the “General
Assignment”), in the same form, except as to dating and
execution, as the form attached hereto as Exhibit D and made a part
hereof, assigning and transferring to Lender all personal property and
contracts (excluding, however, any management or leasing contract between
AmREIT Realty Investment Corporation (“Manager”) and Borrower) comprising the
Project and the lessor’s interest in all leases of space in the Project,
including all amendments to such leases (such leases, with all amendments,
being herein called the “Leases”);

                       (c)          Such
affidavits, indemnities and other documents as may be reasonably required by
Lender or its title insurance company, including without limitation, Foreign
Investment in Real Property Tax affidavits in the form attached hereto as Exhibit
F, affidavits as 

2

to debts, liens and possession or other title affidavits, in order to
consummate the Conveyance (defined below) (the “Closing Affidavits”);

                       (d)          All
keys to the Project;

                       (e)          Evidence
reasonably satisfactory to Lender of Borrower’s termination of all existing
management and leasing agreements with respect to the Project and payment in
full (and release of Lender from) all termination fees or other amounts due to
the terminated party in question, including all leasing commissions owing and
any accounts payable; and

                       (f)          All
books and records in Borrower’s, Guarantor’s or Manager’s possession or control
or otherwise readily available to Borrower, Guarantor or Manager that relate to
the ownership, use, operation, leasing, maintenance, and operation of the
Project (which shall be delivered to Lender or such other party as it may
designate);

The Deed, the General Assignment and the Closing Affidavits are
collectively referred to herein as the “Conveyance Documents”. The Conveyance
Documents, and the conveyances to Lender effected thereby (collectively, the “Conveyance”),
shall be subject to only the Loan Documents and to the indebtedness evidenced
by the Note and the other Loan Documents, and the matters set forth on Exhibit
B attached hereto (the “Permitted Encumbrances”). The
Conveyance shall constitute an absolute conveyance of the Project, thereby
expressly waiving any right, claim, or interest of Borrower and Guarantor in or
to any profits which may thereafter accrue or be payable from the ownership,
use, lease, sale or other disposition of the Project.

In addition to the Conveyance Documents, immediately following the
execution of this Agreement, the Borrower shall execute and deliver to Lender a
Quitclaim Deed in the same form, except as to dating and execution, as the form
attached hereto as Exhibit M and made a part hereof, conveying all of
Borrower’s right, title and interest, if any, in and to the property more
particularly described therein.

          3.          Settlement
Documents. Following the execution and delivery of the
Conveyance Documents, Lender shall deliver notices to all tenants under the
Leases directing such tenants to pay all rents and other payments thereafter
payable under the Leases as directed by Lender in the form, except as to dating
and execution, attached hereto as Exhibit E and made a part hereof (the
“Tenant
Notice Letter”). This Agreement, the Conveyance Documents, the
Tenant Notice Letters, and all other documents or instruments executed or
delivered in connection with this Agreement are hereinafter collectively called
the “Settlement
Documents.” 

          4.          Retained
Liabilities. Notwithstanding anything to the contrary set forth
in this Agreement, Borrower and Guarantor shall remain liable for, and shall
not be released from their respective obligations related to, the following
matters (collectively, the “Retained Liabilities”):

                       (a)          any
warranty of title to the Project contained in the Deed, the Deed of Trust or in
any other Settlement Documents or Loan Documents;

                       (b)          any
failure of Borrower or Guarantor to comply with any of the representations,
warranties, covenants, agreements and indemnities relating to environmental 

3

matters contained in the Deed of Trust, the Environmental Indemnity,
the Guaranty or any other Loan Documents and which failure occurs prior to the
delivery of the Deed and possession of the Project to Lender (collectively, the
“Environmental
Indemnities”);

                       (c)          with
respect to Guarantor only, any and all obligations (including without
limitation, any indemnification obligations) and liabilities arising or
accruing under the Guaranty solely with respect to the portion of the
Guaranteed Obligations (as defined in the Guaranty) related to clauses (b),
(c), (e) or (z) of Paragraph 9 of the Note; provided, however, that
(1) Guarantor’s Retained Liabilities under this Section 4(c) that
relate solely to the obligations of the lessor under any Lease with respect to
security deposits of tenants shall be limited to the Transferred Security
Deposits (defined below), and (2) Guarantor’s Retained Liabilities under
this Section 4(c) shall continue until December 31, 2012, after which such
Retained Liabilities shall be released and discharged; and

                       (d)          any
obligations and liabilities arising under the Settlement Documents.

          5.          Release
by Lender. Subject in all respects to Borrower’s and Guarantor’s
continued liabilities and obligations with respect to the Retained Liabilities
or under the Settlement Documents (including, without limitation,
Section 9 of this Agreement), (a) Lender hereby releases, acquits, and
forever discharges Borrower and Guarantor and their respective partners,
members, shareholders, officers, agents, servants, employees, attorneys and
representatives (collectively, the “Released Parties”), of and from any and
all of their responsibilities, obligations, and liabilities under the Loan
Documents, and any and all claims, demands, damages, costs, losses, expenses,
commissions, actions and causes of action of whatever nature in connection with
or arising or to arise from or resulting or to result from or relating to the
Project or the transactions evidenced by the Loan Documents (collectively, the
“Loan
Transaction”), and (b) Lender shall not bring or institute any
action or suit in connection with any amounts owed pursuant to the Note and the
other Loan Documents against any of the Released Parties. Notwithstanding the
foregoing, nothing contained in this Agreement shall release, reduce, limit,
impair or adversely affect the rights or remedies of Lender with respect to the
Retained Liabilities or under the Settlement Documents (including, without
limitation, Section 9 of this Agreement). This release shall inure to the
benefit of the Released Parties and their successors and assigns and shall be
binding on Lender, its successors and assigns.

          6.          Release
by Borrower. Borrower and Guarantor, in each instance for itself
and the Released Parties, hereby releases, acquits and forever discharges
Original Lender and Lender, and their respective members, affiliates and
subsidiaries, and each of their respective agents, servicers, servants,
employees, attorneys and representatives (collectively, the “Lender
Parties”), of and from any and all claims, demands, damages,
costs, losses, expenses, commissions, actions and causes of action of whatever
nature in connection with or arising or to arise from or resulting or to result
from or relating to the Loan Transaction, specifically including any claim or
claims of usury or lender liability, it being understood and agreed by the
parties to this Agreement that there is no admission on the part of any Lender
Party that interest has ever been contracted for, charged or received in excess
of the maximum amount allowed by applicable law. No promise or inducement for
this release has been offered except as set forth herein and this release is
executed without reliance upon any statement or representation of any person or
parties released, or their representatives, concerning the nature and extent of
the 

4

damages and/or the legal liability therefor. This release shall inure
to the benefit of the Lender Parties and their successors and assigns and shall
be binding on the Released Parties and their respective heirs, legal representatives,
successors and assigns.

          7.          Development,
Marketing and Sale of the Project. Each of Borrower and
Guarantor hereby acknowledges and agrees that from and after the Effective
Date, (a) Lender shall have the right to market the Project for sale to
prospective purchasers, and may disseminate to and share with any prospective
purchaser any financial or other information relating to the Project or its
operation, provided, however, that the representations, warranties and
covenants of Borrower and Guarantor hereunder shall not be deemed to run to or
otherwise benefit any purchasers of the Project or any right therein or part
thereof, and (b) neither Borrower nor Guarantor shall, without the prior written
consent of Lender, take any action with respect to the ownership, development,
leasing, or marketing of the Project. Each of Borrower and Guarantor hereby
waives any claim for loss, damage, liability, or profit against Lender arising
out of any future sale, conveyance, or other disposition of the Project or any
part thereof.

          8.          Change in
Management. Borrower shall relinquish, and cause Manager and any
other party retained by Borrower to relinquish, all management and/or leasing
responsibilities and duties relating to the Project in order that Lender, as
new owner, may assume management, leasing and operation of the Project under a
new manager effective as of the Conveyance. Borrower, Manager or any other
manager, leasing agent or listing agent which have been appointed to lease,
manage and operate the Project shall cause its personnel to be available for a
reasonable time to assure an orderly transfer of responsibilities, as
reasonably deemed necessary by Lender without any third party cost and expense
to Borrower or Manager or any such other manager or agent (for avoidance of
doubt, in no event shall the time of Borrower, Guarantor, Manager or their
employees, be charged to Lender).

          9.          Reinstatement.
If, at any time, this Agreement or the Conveyance are restrained, enjoined, set
aside, avoided or held to be invalid or unenforceable for any reason, in a
bankruptcy proceeding or otherwise, as a result of any act or omission by
Borrower or Guarantor or any other Released Party or any bankruptcy proceeding
affecting Borrower or Guarantor or any other Released Party, then the
liabilities, obligations, and responsibilities of Borrower and Guarantor under
the Loan Documents automatically shall be reinstated, the release in
Section 5 of this Agreement shall be void ab initio and all
of the respective rights, privileges and duties of each of Borrower, Guarantor
and Lender under the Loan Documents shall be reinstated. Neither Borrower nor
Guarantor shall seek to restrain, enjoin, upset, disturb, set aside, avoid, or
otherwise overturn any portion of this Agreement or the conveyance and transfer
of the Project to Lender hereunder and each of Borrower and Guarantor hereby
waives any rights it may have to restrain, enjoin, upset, disturb, set aside,
avoid or otherwise overturn this Agreement or the conveyance and transfer of
the Project to Lender hereunder. If a petition for relief under any federal or
state bankruptcy, insolvency or reorganization law is filed by or against
Borrower or Guarantor, Lender shall be entitled to immediate relief from the
automatic stay (to the extent necessary) to permit Lender to immediately
exercise any and all of its rights and remedies with respect to the Note, the
Deed of Trust, the Guaranty and all other Loan Documents.

          10.        No
Contest. Each of Borrower and Guarantor hereby covenants and
agrees that (a) neither Borrower nor Guarantor nor any other Released Party,
will oppose, hinder, impede, 

5

obstruct, delay or in any manner or means interfere with (1) the
exercise by Lender or its agents of Lender’s rights under the Assignment of
Leases, nor (2) Lender’s judicial or non-judicial foreclosure rights at law, in
equity or under and pursuant to the Loan Documents, and (b) neither Borrower nor
Guarantor shall challenge at any time (1) the validity of any non-judicial
foreclosure sale conducted by Lender or its agents with respect to the Project
or any part thereof, (2) the validity of any judicial foreclosure action
brought by Lender or its agents, (3) the enforceability of any transfer of
title to the Project, or any part thereof, resulting from any such non-judicial
foreclosure sale or judgment in judicial foreclosure action, or (4) the
validity of the Assignment of Leases or any other Loan Document, provided,
however, that the foregoing shall not be construed to limit the ability or
right of Borrower and Guarantor to contest a claim made by Lender or its agents
with respect to a matter released by Lender pursuant to Section 5 of this
Agreement.

          11.        Borrower’s
and Guarantor’s Representations and Warranties. To induce Lender
to enter into this Agreement, each of Borrower and Guarantor jointly and
severally represents and warrants to Lender that:

                       (a)          Collectively,
Borrower and Guarantor are the sole owners and holders of each and every claim,
cause of action, right and chose in action relating to the Loan Transaction;

                       (b)          Except
as disclosed on Exhibit G hereto, there are no actions, suits, or legal,
equitable, arbitrative, administrative or other proceedings pending or, to the
best of its actual knowledge, threatened against Borrower or the Project before
any federal, state, municipal or other court, department, commission, body,
board, bureau, agency or instrumentality, and there are no outstanding
judgments, injunctions, writs, rulings, or orders by any governmental entity
against Borrower or the Project;

                       (c)          Except
as disclosed on Exhibit H hereto, Borrower has not incurred any
liability or obligation for leasing or sales commissions to any broker or agent
in connection with the leasing and/or sale of any part of the Project that has
not been paid in full;

                       (d)          Except
as disclosed on Exhibit I hereto, there are no unpaid bills for any
labor, materials or services furnished for the Project or for the improvement
or maintenance of the Project, and, except for the liens created by the Loan
Documents, none of Borrower, Guarantor and Manager has actual knowledge of any
mechanics’, materialmen’s or other liens or encumbrances in existence, of
record or otherwise, affecting the Project, and there are no other unpaid bills
or other charges incurred by Borrower in the ownership, operation or leasing of
the Project except Scheduled Services and Materials (defined below);

                       (e)          Borrower
has not entered into any contract to sell the Project or granted any option,
right of first refusal or similar right to purchase the Project;

                       (f)          Neither
Borrower nor Guarantor has made an assignment for the benefit of creditors, or
filed a petition in bankruptcy, or been adjudicated insolvent or bankrupt, or
petitioned a court for the appointment of any receiver or custodian of or
trustee for it or any of its property, or commenced any proceeding relating to
such party under any reorganization, 

6

rearrangement, readjustment of debt, dissolution, rehabilitation or
liquidation law or statute of any jurisdiction;

                       (g)          There
has not been commenced and is not pending against Borrower or Guarantor any
proceeding of the nature described in Section 11(f) hereof, nor has any order
for relief been entered with respect to Borrower or Guarantor under the Federal
Bankruptcy Code;

                       (h)          No
person or entity is entitled to any brokerage fee or commission as a result of
any actions of Borrower or Guarantor in connection with the acquisition of the
Project by Lender, and Borrower shall defend, indemnify and hold Lender
harmless for any claim for such commission or compensation arising from
activities or actions taken by Borrower;

                       (i)          Each
of Borrower and Guarantor is executing this Agreement of its own free will and
accord and upon knowledge of the facts and the legal advice given by its
attorneys;

                       (j)          Borrower
is a limited partnership duly organized and validly existing under the laws of
the state of Texas, having all powers required to carry on its business and to
enter into and carry out the transactions contemplated hereby; AmREIT Olmos
Creek GP, Inc., the general partner of Borrower, is a corporation duly
organized and validly existing under the laws of the state of Texas, having all
powers required to carry on its business, to act as general partner on behalf
of Borrower, and to execute and perform in accordance with this Agreement;
Guarantor is a limited partnership duly organized and validly existing under
the laws of the state of Texas, having all powers required to carry on its
business, to execute this Agreement, and to perform its obligations under the
Guaranty; AmREIT Monthly Income & Growth III Corporation, the general
partner of Guarantor, is a corporation duly organized and validly existing
under the laws of the state of Texas, having all powers required to carry on
its business, to act as general partner on behalf of Guarantor, and to execute
and perform in accordance with this Agreement;

                       (k)          Borrower
and Guarantor have duly taken all action necessary to authorize the execution
and delivery by it of the Settlement Documents and to authorize the
consummation of the transactions contemplated thereby and the performance of
its obligations thereunder;

                       (l)          The
execution, delivery and performance by Borrower and Guarantor of this
Agreement, the Deed, the General Assignment, and the other Settlement
Documents, and the consummation of the transactions contemplated by the
Settlement Documents, do not and will not (A) conflict with any provision of
(i) to the Borrower’s and Guarantor’s current actual knowledge, any domestic or
foreign law, statute, rule or regulation, (ii) organizational documents of
Borrower or Guarantor, or (iii) any agreement, judgment, license,
order or permit applicable to or binding upon Borrower or Guarantor; (B) result
in the acceleration of any debt other than indebtedness by Borrower to Lender;
or (C) result in or require the creation of any lien or encumbrance upon any
assets or properties of Borrower or Guarantor except as expressly disclosed to
Lender or otherwise contemplated in the Settlement Documents. No consent,
approval, authorization or order of, and no notice to or filing with, any court
or governmental authority or third party is required in connection with the
execution, delivery or performance by Borrower of any Settlement Document or to
consummate any transactions contemplated by the Settlement Documents;

7

                       (m)         This
Agreement is, and the Deed, the General Assignment and the other Conveyance
Documents, when duly executed and delivered, will be, legal and binding
obligations of Borrower and Guarantor, enforceable in accordance with their
respective terms;

                       (n)          The
Recitals to this Agreement are true and correct in all respects;

                       (o)          Exhibit
J attached hereto is a true, correct and complete list of all operating
accounts maintained in connection with the Project (the “Operating Accounts”)
and the balances thereof as of February 3, 2012;

                       (p)          No
letter of credit has been issued in favor of Borrower or, to the best of
Borrower’s actual knowledge, Borrower’s predecessor in interest under the
Leases;

                       (q)          There
are no escrows, impounds or reserves for taxes, insurance, repairs,
maintenance, interest or any other matter or for any other purpose in
connection with the Loan or pursuant to the Loan Documents;

                       (r)          The
representations in Section 2 of the Environmental Indemnity are true and
correct;

                       (s)          Exhibit
K attached hereto is a true, correct and complete list of all services and materials
for the Project prior to the Effective Date for which either no billing has
been received or a billing has been received but has not been paid (the “Scheduled
Services and Materials”);

                       (t)          Exhibit
L attached hereto is a true, correct and complete list of all tenants of
the Project and Leases (including all amendments thereto) and all security
deposits delivered by such tenants and currently held by Borrower. To the best
of Borrower’s actual knowledge, Exhibit L is a true, correct and
complete list of all security or other deposits delivered by such tenant in
connection with its Lease.

                       (u)          No
payment received from any tenant for expense reimbursements or such tenant’s
share of taxes has been applied to any amount owed under or in connection with
the Loan;

                       (v)          Neither
Borrower nor Guarantor has any knowledge of any fact or condition existing
regarding the presence of, testing for, or remediation of, mildew, mold or mold
spores on the Project;

                       (w)          Borrower
is not a “foreign person” nor a “foreign corporation” as those terms are
defined in Section 1445 of the Internal Revenue Code of 1986, as amended;

                       (x)          Borrower
and Guarantor are currently in compliance with, and shall at all times during
the term of this Agreement (including any extension thereof) remain in
compliance with, the regulations of the Office of Foreign Asset Control (“OFAC”)
of the Department of the Treasury (including those named on OFAC’s Specially
Designated Nationals and Blocked Persons List) and any statute, executive order
(including the September 24, 2001, Executive 

8

Order Blocking Property and Prohibiting Transactions with Persons Who
Commit, Threaten to Commit, or Support Terrorism), or other governmental action
relating thereto;

                      (y)          Borrower
and Guarantor have requested conveyance of title to the Project in lieu of the
exercise of Lender’s remedies under the Loan Documents and, throughout the
negotiation, preparation and execution of this Agreement have been, and will
through the Conveyance be, represented by competent legal counsel of their own
choosing;

                      (z)          This
Agreement was entered into out of the free will of Borrower and Guarantor,
pursuant to arm’s-length negotiations, and Borrower and Guarantor believe this
Agreement is fair;

                      (aa)        Lender
has not taken advantage of Borrower or Guarantor by threats, intimidation,
overreaching, unconscionable conduct, or otherwise, and Borrower and Guarantor
are proceeding in the transactions contemplated by this Agreement as volunteers
in what they perceive to be their own best interests; and

                      (bb)        Neither
Borrower nor Guarantor has entered into this Agreement, the Conveyance
Documents or the other Settlement Documents to which it is a party or its
property is subject with the intent to hinder, delay or defraud any creditor.

All of the representations and warranties of this Section 11 shall
survive execution of this Agreement until December 31, 2012.

          12.       Lender’s
Representations and Warranties. To induce Borrower to enter into
this Agreement, Lender represents and warrants to Borrower that:

                      (a)          Lender
is the sole owner and holder of each and every claim, cause of action, right
and chose in action relating to the Loan Documents (including the Guaranty) and
the Environmental Indemnities;

                      (b)          Lender
has taken all action necessary to authorize the execution and delivery of this
Agreement and to authorize the consummation of the transactions contemplated
hereby and the performance of its obligations hereunder; and

                      (c)          This
Agreement imposes legal and binding obligations on Lender, enforceable in
accordance with its terms.

          13.       Allocation
of Revenues and Expenses. Ad valorem taxes of the Project, all
expenses of the Project and all rents and other revenue derived from the
ownership, use, leasing, and operation of the Project shall be allocated and
paid as between Borrower and Lender and as between Borrower and Lender in the
following manner:

                      (a)          All
checks, money orders, cash or similar payments applicable or attributable to
the period commencing on January 1, 2012 and continuing thereafter (regardless
of when actually received), less any operating expenses of the Project approved
by Lender and paid by Borrower, shall be assigned, endorsed and delivered to
Lender on the Effective Date and thereafter within two (2) business days
following receipt by Borrower;

9

                      (b)          All
Scheduled Services and Materials shall be and become the responsibility of
Lender; and

                      (c)          On
the Effective Date, Borrower immediately shall transfer and assign to Lender
all cash in the Operating Accounts and cash security deposits in the amount of
$38,489.50 (the “Transferred Security Deposits”).

Except for any liability for services or materials which have not been
scheduled or otherwise disclosed to Lender, so long as Lender shall have
received all funds payable to Lender under this Section 13, Lender shall have
no claim against Borrower relating to any unpaid expenses of the Project.
Borrower shall use good faith efforts to cause all water, sewer, electricity,
natural gas, and other utilities for the Project, and all other services for
the Project, to be transferred to Lender on the Effective Date. 

          14.       Due
Diligence Conditions. On or prior to the Effective Date Borrower
shall have furnished or caused to be furnished to Lender, or Lender shall
otherwise obtain (to the extent deemed necessary or advisable to Lender), the
following to the extent within Borrower’s, Guarantor’s or Manager’s possession
or control, each of which shall be approved by Lender in its sole and absolute
discretion:

                      (a)          A
current rent roll of the Project (the “Rent Roll”), in form satisfactory to
Lender, certified by Borrower and Guarantor and accompanied by all Leases;

                      (b)          Without
limiting the generality of the obligation to furnish or cause to be furnished
all Leases pursuant to Section 14(a) above, Borrower shall have furnished or
caused to be furnished to Lender (1) the Leases for the tenants commonly known
as Ana Gonzales Identity, Frederick’s Restaurant and Thrifty Liquor, and (2)
all amendments to and extensions of the Leases for the tenants commonly known
as Park Avenue Cleaners, UPS Store, Solar Nail Salon, Edward Jones and Subway;

                      (c)          Detailed
calculations, on a tenant-by-tenant basis, of all common area maintenance,
operating expense, or other “triple-net” costs passed through to the tenant
under any Lease;

                      (d)          Evidence
satisfactory to Lender that 2011 taxes and assessments for the Project have
been paid in full;

                      (e)          Copies
of (1) all operating, leasing, and management contracts and agreements for the
Project, and (2) to the extent in the possession or control of Borrower,
Guarantor or their respective agents, equipment servicing and warranty
agreements and other contracts for the use and operation of the Project;

                      (f)          Copies
of all surveys and site plans, in Borrower’s or Guarantor’s possession or
otherwise readily available to Borrower or Guarantor, pertaining to the Project
or any improvement thereof;

10

                      (g)          Copies
of all plans and specifications, in Borrower’s or Guarantor’s possession or
otherwise readily available to Borrower or Guarantor, pertaining to the Project
or any improvement thereof;

                      (h)          Certificates
evidencing the existence and good standing of Borrower and Guarantor and
resolutions of Borrower and Guarantor evidencing the authority of Borrower and
Guarantor to execute and deliver this Agreement, convey, assign and transfer to
Lender the Project and all related agreements, rights, materials and
information, under and pursuant to the Deed and the General Assignment, and
otherwise to consummate the transactions contemplated by this Agreement;

                      (i)          To
the full extent the same are in the possession of Borrower or Guarantor or
otherwise readily available to Borrower or Guarantor, all documentation related
to or evidencing any liens or encumbrances, of record or otherwise, on the
Project, except for the liens created by the Loan Documents;

                      (j)          To
the full extent the same are in the possession of Borrower or Guarantor or
otherwise readily available to Borrower or Guarantor, all certificates of
occupancy for space in the Project, and all other licenses, certificates,
consents, permits and approvals required by any regulatory authority having
jurisdiction over the Project;

                      (k)          An
operating statement accurately reflecting the rental and other income and the
operating and capital expenditures of the Project for the calendar year 2011
and for the period commencing on January 1, 2012 and ending on the Effective
Date;

                      (l)          An
aging accounts receivable report for the Project as of the Effective Date,
certified to by Borrower and Guarantor;

                      (m)          Paid
invoices for all common area maintenance charges, utilities and insurance
premiums applicable or attributable to 2011 with respect to the Project;

                      (n)          The
budget or budgets under which the Project is being operated for 2012;

                      (o)          A
statement of all utility deposits being held with respect to the Project; and

                      (p)          Such
other documents or items affecting the Project, Borrower or Guarantor as Lender
reasonably shall request, provided that Borrower and Guarantor shall be
obligated to furnish to Lender only such documents or items as are in Borrower’s
or Guarantor’s possession or control or otherwise readily available to Borrower
or Guarantor.

Each of Borrower and Guarantor agrees that it will (1) cooperate fully
with Lender to obtain such title insurance reports or commitments, engineering
reports, environmental engineering reports and other information on the Project
as Lender shall determine to be necessary or advisable to be obtained, at
Lender’s sole cost and expense, in connection with this Agreement, (2)
reasonably cooperate with Lender and any manager retained by Borrower, to
provide full access to the Project and its records, including the right to
conduct engineering studies, environmental 

11

assessments, financial audits and other inspections that Lender shall
determine to be necessary or advisable to be made, without cost and expense to
Borrower or Guarantor, in connection with this Agreement, and (3) further
cooperate after the Effective Date to effectuate an orderly transfer of the
Project and its operations to Lender and to provide Lender access to the
Project and any information relating to the Project which is in Borrower’s or
Guarantor’s possession or control which is reasonably necessary to effectuate
the purposes of this Agreement. Each of Borrower and Guarantor further covenants
and agrees, upon request by Lender, (A) to deliver to each tenant of the
Project a tenant estoppel certificate, in form satisfactory to Lender, and (B)
to request each such tenant to complete and execute such tenant estoppel
certificate and return the same to Lender to confirm that each respective Lease
is valid and continues in full force and effect without offset, credit or
defense and to confirm such other matters with respect to the Leases and the
Project as may be required by Lender, and (C) to use good faith efforts,
consistent with the terms of the Leases, to cause such tenant estoppel
certificates to be completed, executed and returned, without any third party
cost and expense to Borrower or Guarantor (for avoidance of doubt, in no event
shall the time of Borrower, Guarantor or Manager, or their employees, be
charged to Lender).

          Upon
delivery of the Deed by Borrower and acceptance thereof by Lender, all of
Borrower’s and Guarantor’s obligations to deliver the items set forth in
clauses (a) through (p) of Section 14 shall be deemed to have been satisfied in
full.

          15.       No
Extinguishment or Merger; Subsequent Foreclosure.

                      (a)          No
Extinguishment. The parties acknowledge and agree that Lender’s
title to the Project shall be subject to any Continuing Liens (defined below),
and that any such Continuing Liens shall not be extinguished by the Conveyance.
As used in this Agreement, “Continuing Liens” shall mean,
collectively, any liens and/or security interests created under the Deed of
Trust or any of the other Loan Documents to which Lender’s title to the Project
shall be subject, as determined by Lender in its sole and absolute discretion,
which determination may be made by Lender with respect to some, all or none of
the liens and security interests created under the Loan Documents. Lender’s
election to take title subject to any Continuing Liens shall not be an
assumption of the indebtedness associated with such Continuing Liens.

                      (b)          No Merger.
The parties acknowledge and agree that if Lender elects to take title to the
Project subject to any Continuing Liens, the Conveyance is not intended to, and
shall not, merge Lender’s interests as the fee owner of the Project pursuant to
the Conveyance Documents with or into Lender’s interests as the owner and
holder of any Continuing Liens. In furtherance thereof, if Lender elects to
take title to the Project subject to any Continuing Liens, the Deed and the
General Assignment shall expressly recite that the interests being conveyed
thereby shall not merge with or into, but shall be and at all times remain
separate and distinct from, any Continuing Liens, notwithstanding any union of
those interests in Lender at any time by purchase, termination or otherwise,
and that the Continuing Liens shall be and at all times remain valid and
continuous liens and/or security interests encumbering the Project.

                      (c)          Subsequent
Foreclosure. Nothing in this Agreement shall be deemed to waive
or release any rights to void the Deed that Lender may have under Section
51.006 of the Texas Property Code. Each of Borrower and Guarantor acknowledges
that Lender is relying on 

12

Borrower and Guarantor to disclose all liens or encumbrances affecting
the Project that exist or may arise on or prior to the Effective Date, that
Lender has no personal knowledge of any such lien or encumbrance except for
those liens and encumbrances evidenced of record or otherwise disclosed by
Borrower or Guarantor to Lender in writing, and that Lender would not have
entered into this Agreement but for such reliance upon Borrower and Guarantor.
To the extent Lender, in its sole and absolute discretion, elects to exercise
its rights under Section 51.006 of the Texas Property Code, Borrower and
Guarantor shall execute any document or instrument reasonably necessary or
appropriate to effect a foreclosure under the Deed of Trust as contemplated by
Section 51.006 of the Texas Property Code.

          16.       Notices.
Any notices or requests hereunder shall be in writing and mailed by certified
or registered mail, return receipt requested, postage prepaid, or delivered by
Federal Express or any similar overnight air courier service, addressed to
Borrower or Lender as follows:

	
  

 	
  

 
	
 If to
 Lender:

 	
 Q Olmos
 Creek Property, LLC

 
	
  

 	
 301 Commerce
 Street, Suite 3200

 
	
  

 	
 Fort Worth,
 Texas 76102

 
	
  

 	
 Attention:     Thomas
 F. Ellis III

 
	
  

 	
  

 
	
 with a copy
 to:

 	
 Q Olmos
 Creek Property, LLC

 
	
  

 	
 301 Commerce
 Street, Suite 3200

 
	
  

 	
 Fort Worth,
 Texas 76102

 
	
  

 	
 Attention:     Business
 Affairs

 
	
  

 	
  

 
	
 with a copy
 to:

 	
 Vinson &
 Elkins L.L.P.

 
	
  

 	
 2001 Ross
 Avenue, Suite 3700

 
	
  

 	
 Dallas,
 Texas 75201-2975

 
	
  

 	
 Attention:     Randy
 R. Jurgensmeyer

 
	
  

 	
  

 
	
 If to
 Borrower:

 	
 AmREIT Olmos
 Creek, LP

 
	
  

 	
 8 Greenway
 Plaza, Suite 1000

 
	
  

 	
 Houston,
 Texas 77046

 
	
  

 	
 Attention:     Chad
 Braun

 
	
  

 	
  

 
	
 with a copy
 to:

 	
 Bass Berry
 Sims

 
	
  

 	
 The Tower at
 Peabody Place

 
	
  

 	
 100 Peabody
 Place, Suite 900

 
	
  

 	
 Memphis,
 Tennessee 38103-3672

 
	
  

 	
 Attention:     T.
 Gaillard Uhlhorn

 
	
  

 	
  

 
	
 If to
 Guarantor:

 	
 AmREIT
 Monthly Income & Growth Fund III, Ltd.

 
	
  

 	
 8 Greenway
 Plaza, Suite 1000

 
	
  

 	
 Houston,
 Texas 77046

 
	
  

 	
 Attention:     Chad
 Braun

 

13

	
  

 	
  

 
	
 with a copy
 to:

 	
 Bass Berry
 Sims

 
	
  

 	
 The Tower at
 Peabody Place

 
	
  

 	
 100 Peabody
 Place, Suite 900

 
	
  

 	
 Memphis,
 Tennessee 38103-3672

 
	
  

 	
 Attention:     T.
 Gaillard Uhlhorn

 

or to such other addresses as may be designated from time to time by
Lender or Borrower in accordance with these provisions. Any such notice or
request sent in accordance with these provisions shall be deemed to have been
validly and effectively delivered on the third business day following deposit
in United States mail or the first business day following deposit with Federal
Express or other similar overnight air courier service. For purposes of this
Agreement “business day” shall mean any day on which national banking
associations are required and authorized to be open for business.

          17.       Entire
Agreement; No Representations. This Agreement and the other
Settlement Documents, as executed or amended in accordance with this Agreement,
constitute the entire understanding and agreement between Lender, Borrower and
Guarantor with respect to the matters addressed herein and therein and
supersede all prior written or oral understandings and agreements of Lender,
Borrower and Guarantor in connection therewith. Except as set forth herein, in
any other Settlement Documents or in the Loan Documents, Lender, Borrower and
Guarantor acknowledge and agree that they are not relying on any
representation, warranty, indemnity or assurance in entering into this
Agreement and consummating the transactions contemplated hereby. This
Agreement, including, without limitation, all representations, warranties and
agreements made herein, shall survive and continue to be in full force and effect
following the execution of the Settlement Documents, any modifications and
amendments thereto and any other instruments necessary to effectuate the
transactions contemplated herein.

          18.       Future
Assurances. At Lender’s request following the Effective Date,
Borrower and/or Guarantor shall execute or re-execute any Settlement Document
or any other certificate, document or instrument as may be reasonably necessary
to ratify, confirm, authorize or effect the Conveyance.

          19.       Assignment.
Lender shall have the right to assign its rights and obligations under this
Agreement to an entity controlling, controlled by or under common control with
Lender.

          20.       Severability.
Except as set forth in Section 9 of this Agreement, in case any of the
provisions of this Agreement shall for any reason by held to be invalid,
illegal, or unenforceable, such invalidity, illegality or unenforceability
shall not affect any other provision hereof, and this Agreement shall be
construed as if such invalid, illegal, or unenforceable provision had never
been contained herein.

          21.       Form and
Substance. All documents, certificates, and other items required
under this Agreement shall be in form and substance satisfactory to Lender.

          22.       Costs and
Expenses. Except as otherwise expressly set forth in this
Agreement, Lender shall pay all costs and expenses incurred in connection with
the consummation of the Conveyance (including recording fees, any escrow fees
and any costs associated with the 

14

issuance of a title commitment or policy and endorsements thereto).
Each of Borrower, Guarantor and Lender shall bear and pay its own costs and
expenses incurred in connection with the preparation and negotiation of this
Agreement or any other Settlement Documents, including without limitation the
costs and expenses of its own legal counsel.

          23.       Number
and Gender. Whenever used herein, the singular number shall
include the plural and the plural the singular, and the use of any gender shall
be applicable to all genders.

          24.       Captions.
The captions, headings, and arrangements used in this Agreement are for
convenience only and do not in any way affect, limit, amplify, or modify the
terms and provisions hereof.

          25.       No Third
Party Beneficiary. Borrower and Guarantor acknowledge and agree
that the acceptance by Lender of title to the Project under the terms of this
Agreement and the assignment to Lender of the contracts and agreements related
to the Project shall not create any obligations on the part of Lender to third
parties that have claims of any kind whatsoever against Borrower or Guarantor
relating to the Project or otherwise, and Lender does not assume or agree to
discharge any liabilities of Borrower or Guarantor relating to the Project
which occurred prior to the Effective Date.

          26.       APPLICABLE
LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS WITHOUT GIVING EFFECT TO
PRINCIPLES OF CONFLICTS OF LAWS AND THE LAWS OF THE UNITED STATES APPLICABLE TO
TRANSACTIONS WITHIN SUCH STATE.

          27.       Advice of
Counsel. EACH OF BORROWER AND GUARANTOR ACKNOWLEDGES AND AGREES
THAT (A) BORROWER AND GUARANTOR HAVE EACH CAREFULLY READ, AND EACH UNDERSTANDS,
ALL OF THE TERMS OF THIS AGREEMENT; (B) EACH OF BORROWER AND GUARANTOR HAS
EXECUTED THIS AGREEMENT VOLUNTARILY, FREELY AND OF ITS OWN INITIATIVE, AFTER
HAVING CONSULTED WITH ITS INDEPENDENT LEGAL COUNSEL AND AFTER HAVING HAD ALL OF
THE TERMS OF THIS AGREEMENT EXPLAINED BY ITS INDEPENDENT LEGAL COUNSEL; (C) THE
WAIVERS AND RELEASES CONTAINED IN THIS AGREEMENT HAVE BEEN INTENTIONALLY,
INTELLIGENTLY, KNOWINGLY AND VOLUNTARILY AGREED TO; (D) THE WAIVERS AND RELEASES
CONTAINED IN THIS AGREEMENT HAVE BEEN AGREED TO WITH FULL KNOWLEDGE OF THEIR
SIGNIFICANCE AND CONSEQUENCES, INCLUDING FULL KNOWLEDGE OF THE SPECIFIC NATURE
OF ANY RIGHTS OR DEFENSES WHICH EACH HAS AGREED TO WAIVE OR RELEASE PURSUANT TO
THIS AGREEMENT; (E) EACH HAS HAD A FULL AND ADEQUATE OPPORTUNITY TO NEGOTIATE
THE TERMS CONTAINED IN THIS AGREEMENT AND THIS AGREEMENT AND THE TRANSACTIONS
CONTEMPLATED HEREBY ARE NOT THE RESULT OF FRAUD, DURESS OR UNDUE INFLUENCE; (F)
EACH IS EXPERIENCED IN AND FAMILIAR WITH TRANSACTIONS OF THE TYPE EVIDENCED BY
THIS AGREEMENT; AND (G) THE WAIVERS AND RELEASES CONTAINED IN THIS AGREEMENT
ARE MATERIAL INDUCEMENTS TO LENDER’S EXECUTION OF THIS AGREEMENT, AND LENDER 

15

HAS RELIED ON SUCH WAIVERS AND RELEASES IN ENTERING INTO THIS AGREEMENT
AND WILL CONTINUE TO RELY ON SUCH WAIVERS AND RELEASES IN ANY RELATED FUTURE
DEALINGS WITH BORROWER OR GUARANTOR.

          28.       No Oral
Agreements. THIS AGREEMENT AND THE ATTACHMENTS AND EXHIBITS
HERETO REPRESENT THE FINAL, ENTIRE AGREEMENT BETWEEN THE PARTIES HERETO AND
SUPERSEDE ANY AND ALL PRIOR COMMITMENTS, AGREEMENTS, REPRESENTATIONS, AND
UNDERSTANDINGS, WHETHER WRITTEN OR ORAL, RELATING TO THE SUBJECT MATTER HEREOF
AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT
ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN
THE PARTIES. THE PROVISIONS OF THIS AGREEMENT MAY BE AMENDED OR WAIVED ONLY BY
AN INSTRUMENT SIGNED BY ALL OF THE PARTIES HERETO.

          29.       Successors
and Assigns. The covenants and obligations contained herein
shall bind, and the benefits and advantages shall inure to, the respective
heirs, executors, administrators, personal representatives, successors and
assigns of the parties hereof.

          30.       Survival.
The provisions of this Agreement that contemplate performance after the
Conveyance and the obligations of the parties not fully performed upon
consummation of the Conveyance shall survive the Conveyance and shall not be
deemed to be merged into or waived by the Conveyance Documents.

          31.       Counterparts.
This Agreement may be executed in any number of counterparts, each of which
shall be deemed to be an original, and all of such counterparts shall
constitute one Agreement.

          32.       Time of
the Essence. Time is of the essence in the performance of this
Agreement.

          33.       Exhibits.
The following are exhibits to this Agreement:

	
  

 	
  

 	
  

 
	
 Exhibit A

 	
 —

 	
 Legal
 Description 

 
	
 Exhibit B

 	
 —

 	
 Permitted
 Encumbrances

 
	
 Exhibit C

 	
 —

 	
 Deed

 
	
 Exhibit D

 	
 —

 	
 General
 Assignment

 
	
 Exhibit E

 	
 —

 	
 Tenant
 Notice Letter

 
	
 Exhibit F

 	
 —

 	
 FIRPTA
 Certificate

 
	
 Exhibit G

 	
 —

 	
 Litigation

 
	
 Exhibit H

 	
 —

 	
 Unpaid
 Leasing and Sales Commissions

 
	
 Exhibit I

 	
 —

 	
 Unpaid Bills

 
	
 Exhibit J

 	
 —

 	
 Operating
 Accounts

 
	
 Exhibit K

 	
 —

 	
 Scheduled
 Services and Materials

 
	
 Exhibit L

 	
 —

 	
 List of
 Leases and Deposits

 
	
 Exhibit M

 	
 —

 	
 Quitclaim
 Deed

 

16

          EXECUTED to
be effective as of the Effective Date.

	
  

 	
  

 	
  

 
	
 LENDER:

 	
 Q OLMOS CREEK PROPERTY, LLC,
 a Texas 

 limited liability company

 
	
  

 	
  

 	
  

 
	
  

 	
 By: 

 	
 /s/ Noel
 Nesser

 
	
  

 	
  

 	
 Noel Nesser,
 CFO & Treasurer

 

Signature Pages - 

Settlement Agreement

	
  

 	
  

 	
  

 	
  

 
	
 BORROWER:

 	
 AMREIT OLMOS CREEK, LP,
 a Texas limited partnership

 
	
  

 	
 By:

 	
 AmREIT Olmos
 Creek GP, Inc., a Texas corporation, its general partner

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 By:

 	
   /s/
 Brett Treadwell

 
	
  

 	
  

 	
 Name: Brett
 Treadwell

 
	
  

 	
  

 	
 Title: Vice
 President

 
	
  

 	
  

 	
  

 	
  

 
	
 GUARANTOR:

 	
 AMREIT MONTHLY INCOME & GROWTH FUND
 III, LTD., a Texas limited partnership

 
	
  

 	
 By:

 	
 AmREIT
 Monthly Income & Growth III Corporation, a Texas corporation, its general
 partner

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 By:

 	
   /s/
 Brett Treadwell

 
	
  

 	
  

 	
 Name: Brett
 Treadwell

 
	
  

 	
  

 	
 Title: Vice
 President

 

Signature Pages - 

Settlement Agreement

EXHIBIT A

LEGAL DESCRIPTION

TRACT 1:

Lot 1, in Block 2, NCB 17842, Olmos Creek Office Park, Unit 1, City of
San Antonio, Bexar County, Texas, according to the plat recorded in Volume
9506, Pages 103-105, Deed and Plat Records, Bexar County, Texas, SAVE AND
EXCEPT that portion platted as Lot 3, Block 2, New City Block 17842, Olmos
Creek Office Park, an Addition to the City of San Antonio, Bexar County, Texas,
according to the map or plat thereof recorded in Volume 9530, Page 137, Deed
and Plat Records, Bexar County, Texas.

TRACT 2:

Lot 2, in Block 2, NCB 17842, Olmos Creek Office Park, Unit 1, City of
San Antonio, Bexar County, Texas, according to the plat recorded in Volume
9506, Pages 103-105, Deed and Plat Records, Bexar County, Texas.

TRACT 3:

Reciprocal Easement set out in Declaration recorded in Volume 6579,
Page 1561, Real Property Records, Bexar·  County, Texas.

A-1

EXHIBIT B

PERMITTED ENCUMBRANCES

Permitted Exceptions

	
  

 	
  

 	
  

 
	
 1.

 	
 The
 following restrictive covenants of record itemized below:

 
	
  

 	
  

 
	
  

 	
 Volume 3858, Page 728, Volume 5425, Page 1009, Volume 5425, Page
 1014, Volume 6579, Page 1561, Real Property Records, Bexar County, Texas, but
 omitting any covenants or restrictions, if any, including but not limited to
 those based upon race, color, religion, sex, sexual orientation, familial
 status, marital status, disability, handicap, national origin, ancestry, or
 source of income, as set forth in applicable state or federal laws, except to
 the extent that said covenant or restriction is permitted by applicable law.
 (Tracts 1 and 2)

 
	
  

 	
  

 
	
 2.

 	
 Standby fees, taxes and assessments by any taxing authority for the
 year 2012, and subsequent years; and subsequent taxes and assessments by any
 taxing authority for prior years due to change in land usage or ownership,
 but not those taxes or assessments for prior years because of an exception
 granted to a previous owner under Section 11.13, Texas Tax Code, or because
 of improvements not assessed for a previous tax year.

 
	
  

 	
  

 
	
 3.

 	
 The following matters and all terms of the documents creating or
 offering evidence of the matters:

 
	
  

 	
  

 
	
  

 	
 a.

 	
 25 foot Building Setback Line as shown on plat recorded in Volume
 9506, Pages 103-105, Deed and Plat Records, Bexar County, Texas. (Tracts 1
 and 2)

 
	
  

 	
  

 	
  

 
	
  

 	
 b.

 	
 Variable width Drainage Easement as shown on plat recorded in Volume
 9506, Pages 103-105, Deed and Plat Records, Bexar County, Texas. (Tracts 1
 and 2)

 
	
  

 	
  

 	
  

 
	
  

 	
 c.

 	
 10 foot Drainage Easement along the Southeasterly corner of property
 line as shown on plat recorded in Volume 9506, Pages 103-105, Deed and Plat
 Records, Bexar County, Texas. (Tract 1)

 
	
  

 	
  

 	
  

 
	
  

 	
 d.

 	
 16 foot Sanitary Sewer and Drainage Access Easement as shown on plat
 recorded in Volume 9506, Pages 103-105, Deed and Plat Records, Bexar County,
 Texas. (Tract 2)

 
	
  

 	
  

 	
  

 
	
  

 	
 e.

 	
 10 foot Sanitary Sewer easement along the Northwesterly property line
 as shown on plat recorded in Volume 9530, Page 137, Deed and Plat Records,
 Bexar County, Texas. (Tracts 1 and 2)

 
	
  

 	
  

 	
  

 
	
  

 	
 f.

 	
 28 foot Electric and Gas Lines Right of Way Agreement by and between
 the Olmos Creek Retail Partners, Ltd. and the City of San Antonio recorded in

 

B-1

	
  

 	
  

 	
  

 
	
  

 	
  

 	
 Volume
 7041, Page 1418, Real Property Records, Bexar County, Texas. (Tracts 1 and 2)

 
	
  

 	
  

 	
  

 
	
  

 	
 g.

 	
 16 foot Sanitary Sewer Easement along the Northwesterly property line
 granted to the City of San Antonio by instrument recorded in Volume 6397,
 Page 660, Real Property Records, Bexar County, Texas. (Tracts 1 and 2)

 
	
  

 	
  

 	
  

 
	
  

 	
 h.

 	
 Variable width Electric Easement and 10 foot Gas Easement located
 along the South property line by and between the Olmos Creek Retail Partners,
 Ltd. and the City of San Antonio recorded in Volume 7760, Page 1842, Real
 Property Records, Bexar County, Texas. (Tract 2)

 
	
  

 	
  

 	
  

 
	
  

 	
 i.

 	
 Pollution Agreement Plan referenced by Affidavit recorded in Volume
 6387, Page 1050, Real Property Records, Bexar County, Texas. (Tracts 1 and 2)

 
	
  

 	
  

 	
  

 
	
  

 	
 j.

 	
 Edwards Aquifer Protection Plan referenced by Affidavit recorded in
 Volume 7071, Page 1070, Real Property Records, Bexar County, Texas. (Tract 1)

 
	
  

 	
  

 	
  

 
	
  

 	
 k.

 	
 Terms, condition, and provisions of the Reciprocal Easement set out
 in Declaration recorded in Volume 6579, Page 1561, Real Property Records,
 Bexar County, Texas. (Tracts 1 and 2)

 
	
  

 	
  

 	
  

 
	
  

 	
 l.

 	
 Memorandum of Shopping Center Ground Lease by and between Olmos Creek
 Retail Partners, Ltd. (Landlord) and Albertson’s, Inc. (Tenant), dated
 October 31, 1995, and recorded in Volume 6579, Page 1640, Real Property
 Records, Bexar County, Texas; said lease assigned to and assumed by HEB
 Grocery Company, L.P., by Assignment and Assumption Agreement recorded in
 Volume 9421, Page 1026, Real Property Records, Bexar County, Texas. (Tracts 1
 and 2)

 
	
  

 	
  

 	
  

 
	
  

 	
 m.

 	
 Memorandum of Lease and Ingress/Egress and Parking Easements granted
 in such Memorandum by and between Olmos Creek Retail Partners, Ltd.
 (Landlord) and McDonald’s Corporation (Tenant), dated January 30, 1997, and
 recorded in Volume 7010, Page 1281, Real Property Records, Bexar County,
 Texas. (Tracts 1 and 2)

 
	
  

 	
  

 	
  

 
	
  

 	
 n.

 	
 Memorandum of Lease by and between Olmos Creek Retail Partners, Ltd.,
 (Landlord) and Subway Real Estate Corporation (Tenant), recorded in Volume
 11030, Page 136, Real Property Records, Bexar County, Texas; said Memorandum
 of Lease corrected and re-recorded in Volume 11157, Page 736, Real Property
 Records, Bexar County, Texas. (Tracts 1 and 2)

 
	
  

 	
  

 	
  

 
	
  

 	
 o.

 	
 Covenant not to compete recorded in Volume 7010, Page 1295, Real
 Property Records, Bexar County, Texas. (Tracts 1 and 2)

 

B-2

	
  

 	
  

 	
  

 
	
  

 	
 p.

 	
 Joint Development Agreement by and between Olmos Creek Retail
 Partners and World Savings and Loan Association recorded in Volume 7335, Page
 455, Real Property Records, Bexar County, Texas. (Tracts 1 and 2)

 
	
  

 	
  

 	
  

 
	
  

 	
 q.

 	
 13 foot Electric Easement recorded in Volume 9506, Pages 103-105,
 Deed and Plat Records, Bexar County, Texas. (Tracts 1 and 2).

 
	
  

 	
  

 	
  

 
	
  

 	
 r.

 	
 Deed of Trust, Security Agreement and Assignment of Rents dated
 October 3, 2006, executed by Amreit Olmos Creek, LP, as Borrower, for the
 benefit of NLI Commercial Mortgage Fund, LLC, as Lender, recorded October 4,
 2006 in Instrument No. 20060241434, Volume 12434, Page 1347 of the Real
 Property Records of Bexar County, Texas; as modified by Assignment of Deed of
 Trust, Security Agreement and Assignment of Rents from NLI Commercial
 Mortgage Fund, LLC to Q Olmos Creek Property, LLC dated effective December
 22, 2011 and recorded in Volume 15285, Page 2161.

 
	
  

 	
  

 	
  

 
	
  

 	
 s.

 	
 Assignment of Leases and Rents dated October 3, 2006, executed by
 Amreit Olmos Creek, LP, as Borrower, for the benefit of NLI Commercial
 Mortgage Fund, LLC, as Lender, recorded October 4, 2006 in Instrument No.
 20060241435, Volume 12434, Page 1395 of the Real Property Records of Bexar
 County, Texas; as modified by Assignment of Assignment of Leases and Rent
 from NLI Commercial Mortgage Fund, LLC to Q Olmos Creek Property, LLC dated
 effective December 22, 2011 and recorded in Volume 15285, Page 2166.

 
	
  

 	
  

 	
  

 
	
  

 	
 t.

 	
 Financing Statement, Amreit Olmos Creek, LP, as debtor, NLI
 Commercial Mortgage Fund, LLC, as secured party, recorded October 4, 2006 in
 Instrument No. 20060241436, Volume 12434, Page 1407 Real Property Records of
 Bexar County, Texas; as continued in Volume 14925, Page 1501, Real Property
 Records of Bexar County, Texas; as amended by Volume 15285, Page 2171, Real
 Property Records of Bexar County, Texas.

 
	
  

 	
  

 	
  

 
	
  

 	
 u.

 	
 Subordination, Attornment and Nondisturbance Agreement recorded in
 Volume 12434, Page 1413 and Volume 12434, Page 1426.

 

B-3

EXHIBIT C

	
  

 
	
 After
 recording, return to:

 
	
  

 
	
 Vinson &
 Elkins LLP

 2001 Ross Avenue, Suite 3700 

 Dallas, Texas 75201 

 Attention: Russell W. Oshman

 

SPECIAL
WARRANTY DEED

	
  

 	
  

 
	
 STATE OF
 TEXAS

 	
 §

 
	
  

 	
 §

 
	
 COUNTY OF
 BEXAR

 	
 §

 

          AMREIT
OLMOS CREEK, LP, a Texas limited partnership (“Grantor”),
for and in consideration of the sum of Ten and No/100 Dollars ($10.00) and
other valuable consideration, the receipt and sufficiency of which
consideration are hereby acknowledged, has Granted, Sold, and Conveyed, and by
these presents does Grant, Sell, and Convey, unto Q OLMOS CREEK PROPERTY, LLC,
a Texas limited liability company, having an address of 301 Commerce Street,
Suite 3200, Fort Worth, Texas 76102, Attention: Business Affairs (“Grantee”),
(a) all that certain real property situated in the County of Bexar, State of Texas,
and more particularly described on Exhibit A attached hereto and made a
part hereof for all purposes, (b) together with all buildings and improvements now
or hereafter situated thereon, and the lessor’s or landlord’s interest in all
space leases or occupancy agreements covering all or any portion thereof and
the buildings and improvements situated thereon, and (c) together with all of the
right, title and interest in and to the easements in anywise appertaining or
belonging thereto (collectively, the “Property”).

          This Deed
is made and accepted expressly subject to the matters set forth in Exhibit B
attached hereto and made a part hereof for all purposes.

          Notwithstanding
the fact that Grantor may be indebted to Grantee or an affiliate of Grantee or
that Grantee or an affiliate of Grantee may have or acquire, directly or
indirectly, an interest in one or more liens or encumbrances affecting title to
the Property, including without limitation some or all of the liens and
encumbrances described in Exhibit B attached hereto, (1) this Special
Warranty Deed is an absolute conveyance and not security for any obligation,
and Grantor expressly waives any statutory, equitable or other right to redeem
any interest in the Property, (2) this Special Warranty Deed shall not result
in the merger of any lien or encumbrance in which Grantee or an affiliate of
Grantee may have or acquire, directly or indirectly, an interest, with the
title conveyed hereby, and (3) this Special Warranty Deed shall not result in
the subordination or extinguishment of any lien or encumbrance in which Grantee
or an affiliate of Grantee may have or acquire, directly or indirectly, an
interest, in favor of any other lien or encumbrance.

C-1

          TO HAVE AND
TO HOLD the Property, together with all and singular the rights and
appurtenances belonging in any way to the Property, unto the said Grantee, its
successors and assigns forever, and Grantor binds itself and its successors and
assigns to warrant and forever defend all and singular the Property to Grantee,
its successors and assigns, against every person lawfully claiming or to claim
all or any part of the Property, by, through, or under Grantor, but not
otherwise.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK.]

C-2

          IN WITNESS
WHEREOF, Grantor has executed this Special Warranty Deed to be effective as of
February __, 2012.

	
 

	
 

	
 

	
 

	
 GRANTOR:

 	
 AMREIT OLMOS CREEK, LP,
 a Texas limited partnership

 
	
  

 	
 By:

 	
 AmREIT Olmos
 Creek GP, Inc., a Texas corporation, its general partner

 
	
  

 	
  

 	
  

 
	
  

 	
  

 	
 By:

 	
  

 

	
 

	
 

	
 

	
 

	
 

	
 

	
Name: 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
Title: 

	
 

	
  

 	
  

 
	
 STATE OF
 TEXAS

 	
 §

 
	
  

 	
 §

 
	
 COUNTY OF
 HARRIS

 	
 §

 

          This
instrument was acknowledged before me on February ___, 2012, by _________________________,
____________________ of AmREIT Olmos Creek GP, Inc., a Texas corporation, the
general partner of AmREIT Olmos Creek, LP, a Texas limited partnership, on
behalf of said corporation and limited partnership.

	
  

 	
  

 	
  

 
	
  

 	
  

 
	
  

 	
 Notary
 Public, State of Texas

 
	
  

 	
  

 
	
  

 	
 Printed name
 of notary

 
	
  

 	
  

 
	
  

 	
 My
 Commission Expires: 

 	
  

 

C-3

EXHIBIT A

LEGAL DESCRIPTION

TRACT 1:

Lot 1, in Block 2, NCB 17842, Olmos Creek Office Park, Unit 1, City of
San Antonio, Bexar County, Texas, according to the plat recorded in Volume
9506, Pages 103-105, Deed and Plat Records, Bexar County, Texas, SAVE AND
EXCEPT that portion platted as Lot 3, Block 2, New City Block 17842, Olmos
Creek Office Park, an Addition to the City of San Antonio, Bexar County, Texas,
according to the map or plat thereof recorded in Volume 9530, Page 137, Deed
and Plat Records, Bexar County, Texas. 

TRACT 2:

Lot 2, in Block 2, NCB 17842, Olmos Creek Office Park, Unit 1, City of
San Antonio, Bexar County, Texas, according to the plat recorded in Volume
9506, Pages 103-105, Deed and Plat Records, Bexar County, Texas. 

TRACT 3:

Reciprocal Easement set out in Declaration recorded in Volume 6579,
Page 1561, Real Property Records, Bexar· County, Texas. 

C-4

EXHIBIT B

PERMITTED ENCUMBRANCES

	
 

	
 

	
 

	
1.

	
The following restrictive covenants of record itemized below: 

	
 

	
 

	
 

	
 

	
Volume 3858, Page 728, Volume 5425, Page 1009, Volume 5425, Page
1014, Volume 6579, Page 1561, Real Property Records, Bexar County, Texas, but
omitting any covenants or restrictions, if any, including but not limited to
those based upon race, color, religion, sex, sexual orientation, familial
status, marital status, disability, handicap, national origin, ancestry, or
source of income, as set forth in applicable state or federal laws, except to
the extent that said covenant or restriction is permitted by applicable law.
(Tracts 1 and 2) 

	
 

	
 

	
 

	
2.

	
Standby fees, taxes and assessments by any taxing authority for the
year 2012, and subsequent years; and subsequent taxes and assessments by any
taxing authority for prior years due to change in land usage or ownership,
but not those taxes or assessments for prior years because of an exception
granted to a previous owner under Section 11.13, Texas Tax Code, or because
of improvements not assessed for a previous tax year.

	
 

	
 

	
 

	
3.

	
The following matters and all terms of the documents creating or offering
evidence of the matters:

	
 

	
 

	
 

	
 

	
a.

	
25 foot Building Setback Line as shown on plat recorded in Volume
9506, Pages 103-105, Deed and Plat Records, Bexar County, Texas. (Tracts 1
and 2) 

	
 

	
 

	
 

	
 

	
b.

	
Variable width Drainage Easement as shown on plat recorded in Volume
9506, Pages 103-105, Deed and Plat Records, Bexar County, Texas. (Tracts 1
and 2) 

	
 

	
 

	
 

	
 

	
c.

	
10 foot Drainage Easement along the Southeasterly corner of property
line as shown on plat recorded in Volume 9506, Pages 103-105, Deed and Plat
Records, Bexar County, Texas. (Tract 1) 

	
 

	
 

	
 

	
 

	
d.

	
16 foot Sanitary Sewer and Drainage Access Easement as shown on plat
recorded in Volume 9506, Pages 103-105, Deed and Plat Records, Bexar County,
Texas. (Tract 2) 

	
 

	
 

	
 

	
 

	
e.

	
10 foot Sanitary Sewer easement along the Northwesterly property line
as shown on plat recorded in Volume 9530, Page 137, Deed and Plat Records,
Bexar County, Texas. (Tracts 1 and 2) 

	
 

	
 

	
 

	
 

	
f.

	
28 foot Electric and Gas Lines Right of Way Agreement by and between
the Olmos Creek Retail Partners, Ltd. and the City of San Antonio recorded in
Volume 7041, Page 1418, Real Property Records, Bexar County, Texas. (Tracts 1
and 2) 

C-5

	
 

	
 

	
 

	
 

	
g.

	
16 foot Sanitary Sewer Easement along the Northwesterly property line
granted to the City of San Antonio by instrument recorded in Volume 6397,
Page 660, Real Property Records, Bexar County, Texas. (Tracts 1 and 2)

	
 

	
 

	
 

	
 

	
h.

	
Variable width Electric Easement and 10 foot Gas Easement located
along the South property line by and between the Olmos Creek Retail Partners,
Ltd. and the City of San Antonio recorded in Volume 7760, Page 1842, Real
Property Records, Bexar County, Texas. (Tract 2) 

	
 

	
 

	
 

	
 

	
i.

	
Pollution Agreement Plan referenced by Affidavit recorded in Volume
6387, Page 1050, Real Property Records, Bexar County, Texas. (Tracts 1 and 2)

	
 

	
 

	
 

	
 

	
j.

	
Edwards Aquifer Protection Plan referenced by Affidavit recorded in
Volume 7071, Page 1070, Real Property Records, Bexar County, Texas. (Tract 1)

	
 

	
 

	
 

	
 

	
k.

	
Terms, condition, and provisions of the Reciprocal Easement set out
in Declaration recorded in Volume 6579, Page 1561, Real Property Records,
Bexar County, Texas. (Tracts 1 and 2) 

	
 

	
 

	
 

	
 

	
l.

	
Memorandum of Shopping Center Ground Lease by and between Olmos Creek
Retail Partners, Ltd. (Landlord) and Albertson’s, Inc. (Tenant), dated
October 31, 1995, and recorded in Volume 6579, Page 1640, Real Property
Records, Bexar County, Texas; said lease assigned to and assumed by HEB
Grocery Company, L.P., by Assignment and Assumption Agreement recorded in
Volume 9421, Page 1026, Real Property Records, Bexar County, Texas. (Tracts 1
and 2) 

	
 

	
 

	
 

	
 

	
m.

	
Memorandum of Lease and Ingress/Egress and Parking Easements granted
in such Memorandum by and between Olmos Creek Retail Partners, Ltd.
(Landlord) and McDonald’s Corporation (Tenant), dated January 30, 1997, and
recorded in Volume 7010, Page 1281, Real Property Records, Bexar County,
Texas. (Tracts 1 and 2) 

	
 

	
 

	
 

	
 

	
n.

	
Memorandum of Lease by and between Olmos Creek Retail Partners, Ltd.,
(Landlord) and Subway Real Estate Corporation (Tenant), recorded in Volume
11030, Page 136, Real Property Records, Bexar County, Texas; said Memorandum
of Lease corrected and re-recorded in Volume 11157, Page 736, Real Property
Records, Bexar County, Texas. (Tracts 1 and 2) 

	
 

	
 

	
 

	
 

	
o.

	
Covenant not to compete recorded in Volume 7010, Page 1295, Real
Property Records, Bexar County, Texas. (Tracts 1 and 2) 

	
 

	
 

	
 

	
 

	
p.

	
Joint Development Agreement by and between Olmos Creek Retail
Partners and World Savings and Loan Association recorded in Volume 7335, Page
455, Real Property Records, Bexar County, Texas. (Tracts 1 and 2) 

C-6

	
 

	
 

	
 

	
 

	
q.

	
13 foot Electric Easement recorded in Volume 9506, Pages 103-105,
Deed and Plat Records, Bexar County, Texas. (Tracts 1 and 2).

	
 

	
 

	
 

	
 

	
r.

	
Deed of Trust, Security Agreement and Assignment of Rents dated
October 3, 2006, executed by Amreit Olmos Creek, LP, as Borrower, for the
benefit of NLI Commercial Mortgage Fund, LLC, as Lender, recorded October 4,
2006 in Instrument No. 20060241434, Volume 12434, Page 1347 of the Real
Property Records of Bexar County, Texas; as modified by Assignment of Deed of
Trust, Security Agreement and Assignment of Rents from NLI Commercial
Mortgage Fund, LLC to Q Olmos Creek Property, LLC dated effective December
22, 2011 and recorded in Volume 15285, Page 2161. 

	
 

	
 

	
 

	
 

	
s.

	
Assignment of Leases and Rents dated October 3, 2006, executed by
Amreit Olmos Creek, LP, as Borrower, for the benefit of NLI Commercial
Mortgage Fund, LLC, as Lender, recorded October 4, 2006 in Instrument No.
20060241435, Volume 12434, Page 1395 of the Real Property Records of Bexar
County, Texas; as modified by Assignment of Assignment of Leases and Rent
from NLI Commercial Mortgage Fund, LLC to Q Olmos Creek Property, LLC dated
effective December 22, 2011 and recorded in Volume 15285, Page 2166. 

	
 

	
 

	
 

	
 

	
t.

	
Financing Statement, Amreit Olmos Creek, LP, as debtor, NLI
Commercial Mortgage Fund, LLC, as secured party, recorded October 4, 2006 in
Instrument No. 20060241436, Volume 12434, Page 1407 Real Property Records of
Bexar County, Texas; as continued in Volume 14925, Page 1501, Real Property
Records of Bexar County, Texas; as amended by Volume 15285, Page 2171, Real
Property Records of Bexar County, Texas. 

	
 

	
 

	
 

	
 

	
u.

	
Subordination, Attornment and Nondisturbance Agreement recorded in
Volume 12434, Page 1413 and Volume 12434, Page 1426. 

C-7

EXHIBIT D

ASSIGNMENT OF PERSONAL PROPERTY, 

LEASES, SERVICE CONTRACTS, WARRANTIES AND NAME

	
 

	
 

	
STATE OF
TEXAS

	
§

	
 

	
§

	
COUNTY OF
BEXAR

	
§ 

          AMREIT OLMOS CREEK, LP,
a Texas limited partnership (“Grantor”),
for and in consideration of the sum of Ten and No/100 Dollars ($10.00) and
other good and valuable consideration to it in hand paid by Q OLMOS CREEK PROPERTY, LLC, a Texas
limited liability company (“Grantee”),
the receipt and sufficiency of which are hereby acknowledged, has Granted,
Sold, Assigned, Transferred, Conveyed, and Delivered and does by these presents
Grant, Sell, Assign, Transfer, Convey and Deliver unto Grantee, all of
Grantor’s rights, titles, and interests in and to the following described
properties located on, affixed to, and/or arising or used in connection with a
retail shopping center, with parking and other amenities (the “Project”) situated on the land in the
County of Bexar, State of Texas, more particularly described on Exhibit A
attached hereto and made a part hereof for all purposes (the “Land,” which together with the Project
is sometimes hereinafter called the “Property”):

          1.          All
fixtures, equipment, machinery, building materials, furniture, furnishings, and
other personal property owned by Grantor (the “Personal Property”), and located on, attached to, or used
in connection with the operation and maintenance of the Property; 

          2.          Any
leases for space in the Project (the “Leases”),
together with security and other deposits owned or held by Grantor pursuant to
the Leases, which Leases and security deposits are described on Exhibit C
attached hereto; 

          3.          Any
assignable service, maintenance, or management contracts (excluding, however,
any management contract between Grantor and AmREIT Realty Investment
Corporation) relating to the ownership and operation of the Property (the “Service Contracts”) in Grantor’s
possession which Service Contracts are described on Exhibit D attached
hereto; 

          4.          Any
assignable warranties and guaranties relating to the Property or any portion
thereof in Grantor’s possession (collectively, the “Warranties”); and 

          5.          The
right, title and interest of Grantor, if any, in any name which is used in the
operation of the Property, and any assignable variations thereof, and any
logos, trade names or trademarks in connection therewith (the “Name”). 

          The
Personal Property, the Leases, the Service Contracts, the Warranties and the Name
are sometimes hereinafter called the “Assignment
Property”. 

          This
assignment is made and accepted expressly subject to the matters set forth in Exhibit
B attached hereto and made a part hereof for all purposes. 

D-1

          Grantee for
itself and its successors hereby covenants and agrees with Grantor as follows: 

          1.          Grantee
hereby assumes and agrees to perform all of the lessor’s or landlord’s
obligations under the Leases which are set forth in the copies of the Leases or
documents relating to the Leases which have been delivered to Grantee on or
prior to the date hereof (collectively, the “Delivered Leases”) and which are required to be performed
from and after the date hereof (subject, in all respects, to the terms of such
Leases). 

          2.          Grantee
hereby assumes and agrees to perform all of the obligations of the owner of the
Property under the Service Contracts which have been delivered to Grantee on or
prior to the date hereof (collectively, the “Delivered Service Contracts”) and which are required to be
performed from and after the date hereof. 

          3.          Grantee
hereby indemnifies and agrees to hold Grantor harmless from and against any
loss, damage, liability, cost or expense (including reasonable attorneys’ fees
and court costs) resulting by virtue of Grantee’s failure to perform or comply
with any term, covenant, or condition of the Delivered Leases or the Delivered
Service Contracts required to be performed or complied with from and after the
date hereof and for liabilities arising out of the Leases and relating to
periods after the date hereof. Notwithstanding the foregoing, Grantee shall
neither indemnify nor hold harmless Grantor (a) from any liabilities arising
under the Leases or the Service Contracts and relating to periods prior to the
date hereof, or (b) for liabilities arising out of any Leases, any documents
relating to the Leases or any Service Contracts unless such Leases related
documents, or Service Contracts are delivered to Grantee on or prior to the
date hereof. 

          4.          Grantor
hereby indemnifies and agrees to hold Grantee harmless from and against any
loss, damage, liability, cost or expense (including reasonable attorneys’ fees
and court costs) resulting to Grantee by virtue of Grantor’s failure to perform
or comply with any term, covenant, or condition of the Leases, any documents
relating to the Leases or any Service Contracts which have been entered into by
Grantor and are required to be performed prior to the date hereof.
Notwithstanding the foregoing, Grantor shall neither indemnify nor hold Grantee
harmless from any liabilities arising under the Leases or the Service Contracts
and relating to periods after the date hereof, or for obligations under the Leases
arising after the date hereof which are assumed by Grantee. 

          5.          Notwithstanding
the fact that Grantor may be indebted to Grantee or an affiliate of Grantee or
that Grantee or an affiliate of Grantee may have or acquire, directly or
indirectly, an interest in one or more liens or encumbrances affecting title to
the Assignment Property, including without limitation some or all of the liens
and encumbrances described in Exhibit B attached hereto, (1) this
Assignment of Personal Property, Leases, Service Contracts, Warranties and Name
(this “Assignment”) is an
absolute assignment and conveyance and not security for any obligation, and
Grantor expressly waives any statutory, equitable or other right to redeem any
interest in the Assignment Property, (2) this Assignment shall not result in
the merger of any lien or encumbrance in which Grantee or an affiliate of
Grantee may have or acquire, directly or indirectly, an interest, with the
title conveyed hereby, and (3) this Assignment shall not result in the
subordination or extinguishment of any lien or encumbrance in which Grantee or
an affiliate of Grantee may have or acquire, directly or indirectly, an
interest, in favor of any other lien or encumbrance.

D-2

This Assignment may be executed in multiple counterparts, each of which
constitutes an original, and all of which together constitute one agreement. 

This Assignment shall be governed by and construed in accordance with
the laws of the State of Texas, without giving effect to principles of
conflicts of law. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK.]

D-3

          IN WITNESS
WHEREOF, Grantor and Grantee have executed this Assignment to be effective as
of February __, 2012. 

	
 

	
 

	
 

	
 

	
GRANTOR:

	
AMREIT OLMOS CREEK, LP, a Texas limited

partnership

	
 

	
By: 

	
AmREIT Olmos
Creek GP, Inc., a Texas

corporation, its general partner

	
 

	
 

	
 

	
 

	
 

	
By: 

	
 

	
 

	
 

	
Name: 

	
 

	
 

	
 

	
Title: 

	
 

	
 

	
 

	
STATE OF
TEXAS

	
§

	
 

	
§

	
COUNTY OF
HARRIS

	
§ 

          This
instrument was acknowledged before me on February ___, 2012, by _________________________,
____________________ of AmREIT Olmos Creek GP, Inc., a Texas corporation, the
general partner of AmREIT Olmos Creek, LP, a Texas limited partnership, on
behalf of said corporation and
limited partnership. 

	
 

	
 

	
 

	
 

	
 

	
 

	
Notary
Public, State of Texas

	
 

	
 

	
 

	
Printed name
of notary

	
 

	
 

	
 

	
My
Commission Expires:

	
 

D-4

	
 

	
 

	
 

	
 

	
 

	
 

	
GRANTEE:

	
 

	
Q OLMOS CREEK PROPERTY, LLC, a

Texas limited liability company

	
 

	
 

	
 

	
 

	
 

	
By:

	
 

	
 

	
 

	
 

	
Noel Nesser,
CFO & Treasurer

	
 

	
 

	
STATE OF
TEXAS

	
§

	
 

	
§

	
COUNTY OF
TARRANT

	
§ 

          This
instrument was acknowledged before me on February ___, 2012, by Noel Nesser,
CFO & Treasurer of Q Olmos Creek Property, LLC, a Texas limited liability
company, on behalf of said limited liability company. 

	
 

	
 

	
 

	
 

	
Notary
Public, State of Texas

	
 

	
 

	
 

	
Printed name
of notary

	
 

	
 

	
 

	
My
Commission Expires:

	
 

D-5

EXHIBIT A

LEGAL DESCRIPTION

TRACT 1:

Lot 1, in Block 2, NCB 17842, Olmos Creek Office Park, Unit 1, City of
San Antonio, Bexar County, Texas, according to the plat recorded in Volume
9506, Pages 103-105, Deed and Plat Records, Bexar County, Texas, SAVE AND
EXCEPT that portion platted as Lot 3, Block 2, New City Block 17842, Olmos
Creek Office Park, an Addition to the City of San Antonio, Bexar County, Texas,
according to the map or plat thereof recorded in Volume 9530, Page 137, Deed
and Plat Records, Bexar County, Texas.

TRACT 2:

Lot 2, in Block 2, NCB 17842, Olmos Creek Office Park, Unit 1, City of
San Antonio, Bexar County, Texas, according to the plat recorded in Volume
9506, Pages 103-105, Deed and Plat Records, Bexar County, Texas.

TRACT 3:

Reciprocal Easement set out in Declaration recorded in Volume 6579,
Page 1561, Real Property Records, Bexar· County, Texas.

D-6

EXHIBIT B

PERMITTED ENCUMBRANCES

	
  

 	
  

 	
  

 
	
 1.

 	
 The following restrictive covenants of record itemized below:

 
	
  

 	
  

 	
  

 
	
  

 	
 Volume 3858, Page 728, Volume 5425, Page 1009, Volume 5425, Page
 1014, Volume 6579, Page 1561, Real Property Records, Bexar County, Texas, but
 omitting any covenants or restrictions, if any, including but not limited to
 those based upon race, color, religion, sex, sexual orientation, familial
 status, marital status, disability, handicap, national origin, ancestry, or
 source of income, as set forth in applicable state or federal laws, except to
 the extent that said covenant or restriction is permitted by applicable law.
 (Tracts 1 and 2)

 
	
  

 	
  

 	
  

 
	
 2.

 	
 Standby fees, taxes and assessments by any taxing authority for the
 year 2012, and subsequent years; and subsequent taxes and assessments by any
 taxing authority for prior years due to change in land usage or ownership,
 but not those taxes or assessments for prior years because of an exception
 granted to a previous owner under Section 11.13, Texas Tax Code, or because
 of improvements not assessed for a previous tax year.

 
	
  

 	
  

 	
  

 
	
 3.

 	
 The following matters and all terms of the documents creating or
 offering evidence of the matters:

 
	
  

 	
  

 	
  

 
	
  

 	
 a.

 	
 25 foot Building Setback Line as shown on plat recorded in Volume
 9506, Pages 103-105, Deed and Plat Records, Bexar County, Texas. (Tracts 1
 and 2)

 
	
  

 	
  

 	
  

 
	
  

 	
 b.

 	
 Variable width Drainage Easement as shown on plat recorded in Volume
 9506, Pages 103-105, Deed and Plat Records, Bexar County, Texas. (Tracts 1
 and 2)

 
	
  

 	
  

 	
  

 
	
  

 	
 c.

 	
 10 foot Drainage Easement along the Southeasterly corner of property
 line as shown on plat recorded in Volume 9506, Pages 103-105, Deed and Plat
 Records, Bexar County, Texas. (Tract 1)

 
	
  

 	
  

 	
  

 
	
  

 	
 d.

 	
 16 foot Sanitary Sewer and Drainage Access Easement as shown on plat
 recorded in Volume 9506, Pages 103-105, Deed and Plat Records, Bexar County,
 Texas. (Tract 2)

 
	
  

 	
  

 	
  

 
	
  

 	
 e.

 	
 10 foot Sanitary Sewer easement along the Northwesterly property line
 as shown on plat recorded in Volume 9530, Page 137, Deed and Plat Records,
 Bexar County, Texas. (Tracts 1 and 2)

 
	
  

 	
  

 	
  

 
	
  

 	
 f.

 	
 28 foot Electric and Gas Lines Right of Way Agreement by and between
 the Olmos Creek Retail Partners, Ltd. and the City of San Antonio recorded in
 Volume 7041, Page 1418, Real Property Records, Bexar County, Texas. (Tracts 1
 and 2)

 

D-7

	
  

 	
  

 	
  

 
	
  

 	
 g.

 	
 16 foot Sanitary Sewer Easement along the Northwesterly property line
 granted to the City of San Antonio by instrument recorded in Volume 6397,
 Page 660, Real Property Records, Bexar County, Texas. (Tracts 1 and 2)

 
	
  

 	
  

 	
  

 
	
  

 	
 h.

 	
 Variable width Electric Easement and 10 foot Gas Easement located
 along the South property line by and between the Olmos Creek Retail Partners,
 Ltd. and the City of San Antonio recorded in Volume 7760, Page 1842, Real
 Property Records, Bexar County, Texas. (Tract 2)

 
	
  

 	
  

 	
  

 
	
  

 	
 i.

 	
 Pollution Agreement Plan referenced by Affidavit recorded in Volume
 6387, Page 1050, Real Property Records, Bexar County, Texas. (Tracts 1 and 2)

 
	
  

 	
  

 	
  

 
	
  

 	
 j.

 	
 Edwards Aquifer Protection Plan referenced by Affidavit recorded in
 Volume 7071, Page 1070, Real Property Records, Bexar County, Texas. (Tract 1)

 
	
  

 	
  

 	
  

 
	
  

 	
 k.

 	
 Terms, condition, and provisions of the Reciprocal Easement set out
 in Declaration recorded in Volume 6579, Page 1561, Real Property Records,
 Bexar County, Texas. (Tracts 1 and 2)

 
	
  

 	
  

 	
  

 
	
  

 	
 l.

 	
 Memorandum of Shopping Center Ground Lease by and between Olmos Creek
 Retail Partners, Ltd. (Landlord) and Albertson’s, Inc. (Tenant), dated October
 31, 1995, and recorded in Volume 6579, Page 1640, Real Property Records,
 Bexar County, Texas; said lease assigned to and assumed by HEB Grocery
 Company, L.P., by Assignment and Assumption Agreement recorded in Volume
 9421, Page 1026, Real Property Records, Bexar County, Texas. (Tracts 1 and 2)

 
	
  

 	
  

 	
  

 
	
  

 	
 m.

 	
 Memorandum of Lease and Ingress/Egress and Parking Easements granted
 in such Memorandum by and between Olmos Creek Retail Partners, Ltd.
 (Landlord) and McDonald’s Corporation (Tenant), dated January 30, 1997, and
 recorded in Volume 7010, Page 1281, Real Property Records, Bexar County,
 Texas. (Tracts 1 and 2)

 
	
  

 	
  

 	
  

 
	
  

 	
 n.

 	
 Memorandum of Lease by and between Olmos Creek Retail Partners, Ltd.,
 (Landlord) and Subway Real Estate Corporation (Tenant), recorded in Volume
 11030, Page 136, Real Property Records, Bexar County, Texas; said Memorandum
 of Lease corrected and re-recorded in Volume 11157, Page 736, Real Property
 Records, Bexar County, Texas. (Tracts 1 and 2)

 
	
  

 	
  

 	
  

 
	
  

 	
 o.

 	
 Covenant not to compete recorded in Volume 7010, Page 1295, Real
 Property Records, Bexar County, Texas. (Tracts 1 and 2)

 
	
  

 	
  

 	
  

 
	
  

 	
 p.

 	
 Joint Development Agreement by and between Olmos Creek Retail
 Partners and World Savings and Loan Association recorded in Volume 7335, Page
 455, Real Property Records, Bexar County, Texas. (Tracts 1 and 2)

 

D-8

	
  

 	
  

 	
  

 
	
  

 	
 q.

 	
 13 foot Electric Easement recorded in Volume 9506, Pages 103-105,
 Deed and Plat Records, Bexar County, Texas. (Tracts 1 and 2).

 
	
  

 	
  

 	
  

 
	
  

 	
 r.

 	
 Deed of Trust, Security Agreement and Assignment of Rents dated October
 3, 2006, executed by Amreit Olmos Creek, LP, as Borrower, for the benefit of
 NLI Commercial Mortgage Fund, LLC, as Lender, recorded October 4, 2006 in
 Instrument No. 20060241434, Volume 12434, Page 1347 of the Real Property
 Records of Bexar County, Texas; as modified by Assignment of Deed of Trust,
 Security Agreement and Assignment of Rents from NLI Commercial Mortgage Fund,
 LLC to Q Olmos Creek Property, LLC dated effective December 22, 2011 and
 recorded in Volume 15285, Page 2161.

 
	
  

 	
  

 	
  

 
	
  

 	
 s.

 	
 Assignment of Leases and Rents dated October 3, 2006, executed by
 Amreit Olmos Creek, LP, as Borrower, for the benefit of NLI Commercial
 Mortgage Fund, LLC, as Lender, recorded October 4, 2006 in Instrument No.
 20060241435, Volume 12434, Page 1395 of the Real Property Records of Bexar
 County, Texas; as modified by Assignment of Assignment of Leases and Rent
 from NLI Commercial Mortgage Fund, LLC to Q Olmos Creek Property, LLC dated
 effective December 22, 2011 and recorded in Volume 15285, Page 2166.

 
	
  

 	
  

 	
  

 
	
  

 	
 t.

 	
 Financing Statement, Amreit Olmos Creek, LP, as debtor, NLI
 Commercial Mortgage Fund, LLC, as secured party, recorded October 4, 2006 in
 Instrument No. 20060241436, Volume 12434, Page 1407 Real Property Records of
 Bexar County, Texas; as continued in Volume 14925, Page 1501, Real Property
 Records of Bexar County, Texas; as amended by Volume 15285, Page 2171, Real
 Property Records of Bexar County, Texas.

 
	
  

 	
  

 	
  

 
	
  

 	
 u.

 	
 Subordination, Attornment and Nondisturbance Agreement recorded in
 Volume 12434, Page 1413 and Volume 12434, Page 1426.

 

D-9

EXHIBIT C

LEASES AND SECURITY DEPOSITS

	
  

 	
  

 
	
 1.

 	
 Lease dated April 8, 2010, between AmREIT Olmos Creek, LP, as
 Landlord, and Ana Gonzalez, an individual, doing business as “Salon
 Identity”, as Tenant. 

 
	
  

 	
 Security Deposit: $2,874.67

 
	
  

 	
  

 
	
 2.

 	
 Ground Lease dated March 22, 1996, between Olmos Creek Retail
 Partners, Ltd., the predecessor in interest to AmREIT Olmos Creek, LP, as
 Landlord, and Compass Bank – San Antonio, a Texas corporation, the
 predecessor in interest to Compass Bank, as Tenant. 

 
	
  

 	
 Security Deposit: $-0-

 
	
  

 	
  

 
	
 3.

 	
 Shopping Center Lease dated August 3, 1996, as amended, between Olmos
 Creek Retail Partners, Ltd., the predecessor in interest to AmREIT Olmos
 Creek, LP, as Landlord, and Electra Lamp Shop, Inc., doing business as
 “Compton’s Lamps & Shades”, as Tenant. 

 
	
  

 	
 Security Deposit: $4,357.50

 

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 Amendments

 	
  

 	
  

 	
 Date

 	
  

 
	
 Amendment No. 1

 	
 October 1, 2002

 
	
 Amendment No. 2

 	
 February 1, 2007

 
	
 Amendment No. 3

 	
 September 18, 2009

 
	
 Amendment No. 4

 	
 July 16, 2010

 

	
  

 	
  

 
	
 4.

 	
 Shopping Center Lease dated September 17, 2002, as amended, between
 Olmos Creek Retail Partners, Ltd., the predecessor in interest to AmREIT
 Olmos Creek, LP, as Landlord, and Edward D. Jones & Co., as Tenant. 

 
	
  

 	
 Security Deposit: $-0-

 

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 Amendments

 	
  

 	
  

 	
 Date

 	
  

 
	
 Amendment No. 1

 	
 January 30, 2007

 
	
 Amendment No. 2

 	
 January 26, 2011

 

D-10

	
  

 	
  

 
	
 5.

 	
 Shopping Center Lease dated May 20, 1996, as amended, between Olmos
 Creek Retail Partners, Ltd., the predecessor in interest to AmREIT Olmos
 Creek, LP, as Landlord, and Trak Investments Inc., the predecessor in
 interest to McCurry Enterprises, LP, doing business as “Fantastic Sam’s”, as
 Tenant. 

 
	
  

 	
 Security Deposit: $1,969.33

 

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 Amendments

 	
  

 	
  

 	
 Date

 	
  

 
	
 Amendment No. 1

 	
 January 13, 1997

 
	
 Amendment No. 2

 	
 October 1, 2002

 
	
 Amendment No. 3

 	
 February 7, 2007

 
	
 Amendment No. 4

 	
 April 1, 2011

 
	
 Amendment No. 5

 	
 October 5, 2011

 

	
  

 	
  

 
	
 6.

 	
 Lease dated May 1, 2008, as amended, between AmREIT Olmos Creek, LP,
 as Landlord, and Odette, Inc., a Texas corporation doing business as
 “Frederick’s Restaurant”, as Tenant. 

 
	
  

 	
 Security Deposit: $11,466.67

 

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 Amendments

 	
  

 	
  

 	
 Date

 	
  

 
	
 Amendment No. 1

 	
 April 18, 2009

 

	
  

 	
  

 
	
 7.

 	
 Shopping Center Ground Lease dated October 31, 1995, and Shopping
 Center Ground Lease dated January 10, 2003, each as amended, between Olmos
 Creek Retail Partners, Ltd., the predecessor in interest to AmREIT Olmos
 Creek, LP, as Landlord, and Albertson’s, Inc., the predecessor in interest to
 HEB Grocery Company, LP, as Tenant. 

 
	
  

 	
 Security Deposit: $-0-

 

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 Amendments

 	
  

 	
  

 	
 Date

 	
  

 
	
 Amendment No. 1

 	
 January 15, 2003

 

	
  

 	
  

 
	
 8.

 	
 Ground Lease
 dated June 6, 1997, between Olmos Creek Retail Partners, Ltd., the
 predecessor in interest to AmREIT Olmos Creek, LP, as Landlord, and
 McDonald’s Corporation, as Tenant. 

 
	
  

 	
 Security
 Deposit: $-0-

 

D-11

	
  

 	
  

 
	
 9.

 	
 Shopping Center Lease dated November 29, 2004, as amended, between
 Olmos Creek Retail Partners, Ltd., the predecessor in interest to AmREIT
 Olmos Creek, LP, as Landlord, and Park Avenue Cleaners-SA, LLC, as Tenant. 

 
	
  

 	
 Security Deposit: $3,000.00

 

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 Amendments

 	
  

 	
  

 	
 Date

 	
  

 
	
 Amendment No. 1

 	
 April 18, 2008

 

	
  

 	
  

 
	
 10.

 	
 Shopping Center Lease dated October 16, 2002, as amended, between
 Olmos Creek Retail Partners, Ltd., the predecessor in interest to AmREIT
 Olmos Creek, LP, as Landlord, and LeVan Hoang, an individual, and the
 predecessor in interest to Hiep C. Mai and Buu T. Vo, individuals doing
 business as “Solar Nail Studio”, as Tenant. 

 
	
  

 	
 Security
 Deposit: $2,552.08

 

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 Amendments

 	
  

 	
  

 	
 Date

 	
  

 
	
 Amendment No. 1

 	
 February 2, 2007

 

	
  

 	
  

 
	
 11.

 	
 Shopping Center Lease dated November 4, 2003, as amended, between
 Olmos Creek Retail Partners, Ltd., the predecessor in interest to AmREIT
 Olmos Creek, LP, as Landlord, and Subway Real Estate Corp., as Tenant. 

 
	
  

 	
 Security Deposit: $3,191.25

 

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 Amendments

 	
  

 	
  

 	
 Date

 	
  

 
	
 Amendment No. 1

 	
 August 25, 2009

 

	
  

 	
  

 
	
 12.

 	
 Shopping Center Lease dated June 20, 1996, as amended, between Olmos
 Creek Retail Partners, Ltd., the predecessor in interest to AmREIT Olmos
 Creek, LP, as Landlord, and Thrifty Liquors, Inc., as Tenant. 

 
	
  

 	
 Security
 Deposit: $3,375.00

 

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 Amendments

 	
  

 	
  

 	
 Date

 	
  

 
	
 Amendment No. 1

 	
 January 22, 1997

 
	
 Amendment No. 2

 	
 March 28, 1997

 
	
 Amendment No. 3

 	
 October 1, 2002

 
	
 Amendment No. 4

 	
 February 5, 2007

 
	
 Amendment No. 5

 	
 April 12, 2010

 
	
 Amendment No. 6

 	
 February 18, 2011

 

D-12

	
  

 	
  

 
	
 13.

 	
 Shopping Center Lease dated March 15, 2004, as amended, between Olmos
 Creek Retail Partners, Ltd., the predecessor in interest to AmREIT Olmos
 Creek, LP, as Landlord, and Thomas H. Scherwitz, an individual, doing
 business as “The UPS Store”, as Tenant.

 
	
  

 	
 Security
 Deposit: $2,945.00

 

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 Amendments

 	
  

 	
  

 	
 Date

 	
  

 
	
 Amendment No. 1

 	
 August 4, 2009

 

	
  

 	
  

 
	
 14.

 	
 Shopping Center Lease dated May 20, 1996, as amended, between Olmos
 Creek Retail Partners, Ltd., the predecessor in interest to AmREIT Olmos
 Creek, LP, as Landlord, and Svelan Enterprises, Inc., doing business as “Wild
 Birds Unlimited”, as Tenant. 

 
	
  

 	
 Security
 Deposit: $2,758.00

 

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 Amendments

 	
  

 	
  

 	
 Date

 	
  

 
	
 Amendment No. 1

 	
 March 28, 2007

 
	
 Amendment No. 2

 	
 October 1, 2002

 

D-13

EXHIBIT D

SERVICE CONTRACTS

	
  

 	
  

 
	
 1.

 	
 Service Provider Contract dated July 2006 between Olmos Creek Retail
 Partners, LLC, the predecessor in interest to AmREIT Olmos Creek, LP, and MLC
 Landscaping Co., Inc. (month-to-month contract).

 
	
  

 	
  

 
	
 2.

 	
 Service Agreement dated August 23, 2004 with Allied Waste (formerly
 BFI) with a 60 day cancellation clause.

 

D-14

EXHIBIT E

TENANT NOTICE LETTER

AMREIT OLMOS CREEK,
LP

8 Greenway Plaza, Suite 1000

Houston, Texas 77046

February ___, 2012

	
  

 	
  

 
	
  [Name and Address of Tenant]

 	
  

 
	
  

 	
  

 
	
  

 	
  

 
	
  

 	
  

 

	
  

 	
  

 
	
 RE:

 	
 Lease dated _______________, 20___, between
 ______________________________, as Landlord, and
 ______________________________, as Tenant ____________________

 

Ladies/Gentlemen:

          This letter
relates to your lease (the “Lease”) of space in the shopping center
located at 14602, 14610, 14620, 14624 and 14630 Huebner Road and 14439 NW
Military Highway, San Antonio, Texas, and commonly known as Olmos Creek
Shopping Center (the “Project”). AmREIT Olmos Creek, LP (“Landlord”)
is selling and conveying the Project to Q Olmos Creek Property, LLC, a Texas
limited liability company (“New Owner”), and all leases of space in
the Project, including the above Lease, are being assigned to New Owner. In
order to receive credit for payment of rent under the Lease, payment of the
rent should be made in accordance with the directions of this letter.

          You are
hereby irrevocably and unconditionally authorized and directed that:

          (1) each
payment of rent or any other charge by you under the Lease is to be made in the
form of a check made payable to the order of New Owner and delivered to the
following address:

	
  

 	
  

 	
  

 
	
  

 	
 Q Olmos
 Creek Property, LLC

 
	
  

 	
 c/o Lincoln
 Property Company

 
	
  

 	
 Attn:

 	
 Retail
 Accounting

 
	
  

 	
 2000
 McKinney Avenue, Suite 1000

 
	
  

 	
 Dallas,
 Texas 75201

 

          and (2) any
notices or other correspondence with respect to the Lease should be sent to New
Owner at the following address:

E-1

	
  

 	
  

 
	
  

 	
 Q Olmos
 Creek Property, LLC

 
	
  

 	
 301 Commerce
 Street, Suite 3200

 
	
  

 	
 Fort Worth,
 Texas 76102

 
	
  

 	
 Attention:
 Business Affairs

 

Payments which are not made in accordance with this authorization and
direction will not be credited to payment of rents until otherwise properly
directed. Please contact the building manager, Bobbie Myers, at the address
below if you have any questions or comments on this matter:

	
  

 	
  

 
	
  

 	
 Bobbie Myers

 
	
  

 	
 c/o Lincoln
 Property Company

 
	
  

 	
 900 Capital
 of Texas Highway South, Suite 150

 
	
  

 	
 Austin,
 Texas 78746

 
	
  

 	
 Telephone:
 512.322.3218

 

          Your
security deposit in the amount of $_______________ was assigned and transferred
by Landlord to New Owner. New Owner is now responsible for your security
deposit.

          Thank you
for your cooperation.

	
  

 	
  

 	
  

 	
  

 	
  

 
	
 LANDLORD

 	
 AMREIT OLMOS CREEK,
 LP, a Texas limited partnership

 
	
  

 	
 By:

 	
 AmREIT Olmos Creek GP, Inc., a Texas corporation, its general partner

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 By:

 	
  

 
	
  

 	
  

 	
 Name: 

 	
  

 
	
  

 	
  

 	
 Title:

 	
  

 

E-2

	
  

 	
  

 	
  

 	
  

 
	
 NEW OWNER:

 	
 Q OLMOS CREEK
 PROPERTY, LLC, a Texas limited liability company

 
	
  

 	
  

 	
  

 
	
  

 	
 By:

 	
  

 
	
  

 	
 Name: 

 	
  

 
	
  

 	
 Title:

 	
  

 

E-3

EXHIBIT F 

FIRPTA CERTIFICATE 

          Section 1445
of the Internal Revenue Code provides that a transferee of a U.S. real property
interest must withhold tax if the transferor is a foreign person. For U.S. tax
purposes (including Section 1445), if a disregarded entity has legal title
to a U.S. real property interest under local law, the owner of such disregarded
entity (and not the disregarded entity itself) will be the transferor of such
property. To inform _______________________________, a _____________________ (“Transferee”)
that withholding of tax is not required upon the disposition of a U.S. real
property interest by AMREIT OLMOS CREEK, LP, a Texas limited
partnership (“Transferor”), the undersigned, in his or her capacity as
_____________ of _______________________, a _______________, but not
individually, hereby certifies to Transferee the following on behalf of
Transferor:

          1.      
Transferor is not a foreign corporation, foreign partnership, foreign trust, or
foreign estate (as those terms are defined in the Internal Revenue Code and
Income Tax Regulations);

	
  

 	
  

 	
  

 
	
  

 	
 2.

 	
 Transferor
 is not a disregarded entity as defined in Section 1.1445-2(b)(2)(iii);

 
	
  

 	
  

 	
  

 
	
  

 	
 3.

 	
 Transferor’s
 U.S. employer identification number is ______________; and

 
	
  

 	
  

 	
  

 
	
  

 	
 4.

 	
 Transferor’s
 office address is __________________________________________________________________.

 

          Transferor
understands that this certification may be disclosed to the Internal Revenue
Service by Transferee and that any false statement contained herein could be
punished by fine, imprisonment, or both.

          Under
penalties of perjury I declare that I have examined this certification and that
to the best of my knowledge and belief it is true, correct and complete, and I
further declare that I have authority to sign this document on behalf of
Transferor.

          Dated
as of February __, 2012.

[Signature page follows.]

F-1

	
  

 	
  

 
	
  

 	
 _________________________,
 a ________________________

 

	
  

 	
  

 	
  

 
	
  

 	
 By:

 	
  

 

	
  

 	
  

 	
  

 
	
  

 	
 Name:

 	
  

 

	
  

 	
  

 	
  

 
	
  

 	
 Title:

 	
  

 

	
  

 	
  

 
	
 THE STATE OF
 ______________

 	
 §

 
	
  

 	
 §

 
	
 COUNTY OF
 ________________

 	
 §

 

          This
instrument was acknowledged before me on February ___, 2012, by
_____________, _______________ of ___________________________, a
____________________on behalf of said ___________________________.

	
  

 	
  

 
	
  

 	
 _______________________________________________________

 
	
  

 	
 Notary
 Public, State of ______________________

 

F-2

EXHIBIT G

LITIGATION

None. 

G-1

EXHIBIT H

UNPAID LEASING OR SALES COMMISSIONS

None. 

H-1

EXHIBIT I

UNPAID BILLS

	
  

 	
  

 
	
 1.

 	
 CPS Energy
 (Account # 300-1765-270, 300-1765-272, 300-1765-273, 300-2264-961)

 
	
  

 	
  

 
	
 2.

 	
 Allied Waste
 (Account # 3-0859-0009225, 3-0859-0009597, 3-0859-0218107)

 
	
  

 	
  

 
	
 3.

 	
 MLC
 Landscaping (Invoice # 54080)

 
	
  

 	
  

 
	
 4.

 	
 Clean Earth
 Solutions (Invoice # 24602)

 
	
  

 	
  

 
	
 5.

 	
 J’s Total
 Services (Invoice # 3192, 3182, 3183)

 

I-1

EXHIBIT J

OPERATING ACCOUNTS

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 Account

 	
  

 	
  

 	
  

 	
 Balance

 
	
 
Account #
 XXXXXXX with Amegy Bank, N.A.

 	
 
$52,010.51

 

J-1

EXHIBIT K

SCHEDULED SERVICES AND MATERIALS

Unpaid Invoices

	
  

 	
  

 
	
 1.

 	
 CPS Energy
 (Account # 300-1765-270, 300-1765-272, 300-1765-273, 300-2264-961)

 
	
  

 	
  

 
	
 2.

 	
 Allied Waste
 (Account # 3-0859-0009225, 3-0859-0009597, 3-0859-0218107)

 
	
  

 	
  

 
	
 3.

 	
 MLC
 Landscaping (Invoice # 54080)

 
	
  

 	
  

 
	
 4.

 	
 Clean Earth
 Solutions (Invoice # 24602)

 
	
  

 	
  

 
	
 5.

 	
 J’s Total
 Services (Invoice # 3192, 3182, 3183)

 
	
  

 	
  

 
	
 Work Performed, Invoice Not Yet Received

 
	
  

 	
  

 
	
 1.

 	
 Earthwise
 Organic Pest Control – pesticide service

 

K-1

EXHIBIT L

LIST OF LEASES AND DEPOSITS

	
  

 	
  

 
	
 1.

 	
 Lease dated April 8, 2010, between AmREIT Olmos Creek, LP, as
 Landlord, and Ana Gonzalez, an individual, doing business as “Salon
 Identity”, as Tenant. 

 
	
  

 	
 Security Deposit: $2,874.67

 
	
  

 	
  

 
	
 2.

 	
 Ground Lease dated March 22, 1996, between Olmos Creek Retail
 Partners, Ltd., the predecessor in interest to AmREIT Olmos Creek, LP, as
 Landlord, and Compass Bank – San Antonio, a Texas corporation, the
 predecessor in interest to Compass Bank, as Tenant. 

 
	
  

 	
 Security Deposit: $-0-

 
	
  

 	
  

 
	
 3.

 	
 Shopping Center Lease dated August 3, 1996, as amended, between Olmos
 Creek Retail Partners, Ltd., the predecessor in interest to AmREIT Olmos
 Creek, LP, as Landlord, and Electra Lamp Shop, Inc., doing business as
 “Compton’s Lamps & Shades”, as Tenant. 

 
	
  

 	
 Security Deposit: $4,357.50

 

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 Amendments

 	
  

 	
  

 	
  

 	
 Date

 	
  

 
	
 Amendment No. 1

 	
  

 	
 October 1, 2002

 
	
 Amendment No. 2

 	
  

 	
 February 1, 2007

 
	
 Amendment No. 3

 	
  

 	
 September 18, 2009

 
	
 Amendment No. 4

 	
  

 	
 July 16, 2010

 

	
  

 	
  

 
	
 4.

 	
 Shopping
 Center Lease dated September 17, 2002, as amended, between Olmos Creek Retail
 Partners, Ltd., the predecessor in interest to AmREIT Olmos Creek, LP, as
 Landlord, and Edward D. Jones & Co., as Tenant. 

 
	
  

 	
 Security
 Deposit: $-0-

 

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 Amendments

 	
  

 	
  

 	
  

 	
 Date

 	
  

 
	
 Amendment No. 1

 	
  

 	
 January 30, 2007

 
	
 Amendment No. 2

 	
  

 	
 January 26, 2011

 
									

L-2

	
  

 	
  

 
	
 5.

 	
 Shopping
 Center Lease dated May 20, 1996, as amended, between Olmos Creek Retail
 Partners, Ltd., the predecessor in interest to AmREIT Olmos Creek, LP, as
 Landlord, and Trak Investments Inc., the predecessor in interest to McCurry
 Enterprises, LP, doing business as “Fantastic Sam’s”, as Tenant. 

 
	
  

 	
 Security
 Deposit: $1,969.33

 

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 Amendments

 	
  

 	
  

 	
  

 	
 Date

 	
  

 
	
 Amendment No. 1

 	
  

 	
 January 13, 1997

 
	
 Amendment No. 2

 	
  

 	
 October 1, 2002

 
	
 Amendment No. 3

 	
  

 	
 February 7, 2007

 
	
 Amendment No. 4

 	
  

 	
 April 1, 2011

 
	
 Amendment No. 5

 	
  

 	
 October 5, 2011

 

	
  

 	
  

 
	
 6.

 	
 Lease dated
 May 1, 2008, as amended, between AmREIT Olmos Creek, LP, as Landlord, and
 Odette, Inc., a Texas corporation doing business as “Frederick’s Restaurant”,
 as Tenant. 

 
	
  

 	
 Security
 Deposit: $11,466.67

 

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 Amendments

 	
  

 	
  

 	
  

 	
 Date

 	
  

 
	
 Amendment No. 1

 	
  

 	
 April 18, 2009

 

	
  

 	
  

 
	
 7.

 	
 Shopping
 Center Ground Lease dated October 31, 1995, and Shopping Center Ground Lease
 dated January 10, 2003, each as amended, between Olmos Creek Retail Partners,
 Ltd., the predecessor in interest to AmREIT Olmos Creek, LP, as Landlord, and
 Albertson’s, Inc., the predecessor in interest to HEB Grocery Company, LP, as
 Tenant. 

 
	
  

 	
 Security
 Deposit: $-0-

 

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 Amendments

 	
  

 	
  

 	
  

 	
 Date

 	
  

 
	
 Amendment No. 1

 	
  

 	
 January 15, 2003

 

	
  

 	
  

 
	
 8.

 	
 Ground Lease
 dated June 6, 1997, between Olmos Creek Retail Partners, Ltd., the
 predecessor in interest to AmREIT Olmos Creek, LP, as Landlord, and
 McDonald’s Corporation, as Tenant. 

 
	
  

 	
 Security
 Deposit: $-0-

 

L-3

	
  

 	
  

 
	
 9.

 	
 Shopping
 Center Lease dated November 29, 2004, as amended, between Olmos Creek Retail
 Partners, Ltd., the predecessor in interest to AmREIT Olmos Creek, LP, as
 Landlord, and Park Avenue Cleaners-SA, LLC, as Tenant. 

 
	
  

 	
 Security
 Deposit: $3,000.00

 

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 Amendments

 	
  

 	
  

 	
  

 	
 Date

 	
  

 
	
 Amendment No. 1

 	
  

 	
 April 18, 2008

 

	
  

 	
  

 
	
 10.

 	
 Shopping
 Center Lease dated October 16, 2002, as amended, between Olmos Creek Retail
 Partners, Ltd., the predecessor in interest to AmREIT Olmos Creek, LP, as
 Landlord, and LeVan Hoang, an individual, and the predecessor in interest to
 Hiep C. Mai and Buu T. Vo, individuals doing business as “Solar Nail Studio”,
 as Tenant. 

 
	
  

 	
 Security
 Deposit: $2,552.08

 

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 Amendments

 	
  

 	
  

 	
  

 	
 Date

 	
  

 
	
 Amendment No. 1

 	
  

 	
 February 2, 2007

 

	
  

 	
  

 
	
 11.

 	
 Shopping
 Center Lease dated November 4, 2003, as amended, between Olmos Creek Retail
 Partners, Ltd., the predecessor in interest to AmREIT Olmos Creek, LP, as
 Landlord, and Subway Real Estate Corp., as Tenant. 

 
	
  

 	
 Security
 Deposit: $3,191.25

 

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 Amendments

 	
  

 	
  

 	
  

 	
 Date

 	
  

 
	
 Amendment No. 1

 	
  

 	
 August 25, 2009

 

	
  

 	
  

 
	
 12.

 	
 Shopping
 Center Lease dated June 20, 1996, as amended, between Olmos Creek Retail
 Partners, Ltd., the predecessor in interest to AmREIT Olmos Creek, LP, as
 Landlord, and Thrifty Liquors, Inc., as Tenant. 

 
	
  

 	
 Security
 Deposit: $3,375.00

 

	
  

 	
  

 	
  

 
	
  

 	
 Amendments

 	
  

 	
  

 	
  

 	
 Date

 	
  

 
	
 Amendment No. 1

 	
  

 	
 January 22, 1997

 
	
 Amendment No. 2

 	
  

 	
 March 28, 1997

 
	
 Amendment No. 3

 	
  

 	
 October 1, 2002

 
	
 Amendment No. 4

 	
  

 	
 February 5, 2007

 
	
 Amendment No. 5

 	
  

 	
 April 12, 2010

 
	
 Amendment No. 6

 	
  

 	
 February 18, 2011

 
							

L-4

	
  

 	
  

 
	
 13.

 	
 Shopping
 Center Lease dated March 15, 2004, as amended, between Olmos Creek Retail
 Partners, Ltd., the predecessor in interest to AmREIT Olmos Creek, LP, as
 Landlord, and Thomas H. Scherwitz, an individual, doing business as “The UPS
 Store”, as Tenant.

 
	
  

 	
 Security
 Deposit: $2,945.00

 

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 Amendments

 	
  

 	
  

 	
  

 	
 Date

 	
  

 
	
 Amendment No. 1

 	
  

 	
 August 4, 2009

 

	
  

 	
  

 
	
 14.

 	
 Shopping
 Center Lease dated May 20, 1996, as amended, between Olmos Creek Retail
 Partners, Ltd., the predecessor in interest to AmREIT Olmos Creek, LP, as
 Landlord, and Svelan Enterprises, Inc., doing business as “Wild Birds
 Unlimited”, as Tenant. 

 
	
  

 	
 Security
 Deposit: $2,758.00

 

	
  

 	
  

 	
  

 
	
  

 	
 Amendments

 	
  

 	
  

 	
  

 	
 Date

 	
  

 
	
 Amendment No. 1

 	
  

 	
 March 28, 2007

 
	
 Amendment No. 2

 	
  

 	
 October 1, 2002

 
							

L-5

EXHIBIT M

After
recording, return to:

Vinson &
Elkins LLP

2001 Ross Avenue, Suite 3700

Dallas, Texas 75201

Attention: Russell W. Oshman

QUITCLAIM
DEED

	
  

 	
  

 	
  

 
	
 STATE OF
 TEXAS

 	
 §

 	
  

 
	
  

 	
 §

 	
  

 
	
 COUNTY OF
 BEXAR

 	
 §

 	
  

 

          AMREIT
OLMOS CREEK, LP, a Texas limited partnership (“Grantor”),
for and in consideration of the sum of Ten Dollars ($10.00) and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, has RELEASED AND FOREVER QUITCLAIMED and by these presents does
RELEASE AND FOREVER QUITCLAIM unto Q OLMOS CREEK PROPERTY, LLC, a Texas
limited liability company having an address of 301 Commerce Street, Suite 3200,
Fort Worth, Texas 76102, Attention: Business Affairs (“Grantee”) all of
Grantor’s right, title, and interest (if any) in and to that certain tract or
parcel of land in Bexar County, Texas, more particularly described in Exhibit
A attached hereto and incorporated herein by this reference, together with
all rights, titles, and interests appurtenant thereto (such land and interests
are hereinafter collectively referred to as the “Property”).

          TO
HAVE AND TO HOLD the Property, together with all and singular the rights and
appurtenances thereunto in anywise belonging, unto Grantee, its successors and
assigns forever.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK.]

M-1

          IN
WITNESS WHEREOF, Grantor has executed this Quitclaim Deed to be effective as of
February __, 2012.

	
  

 	
  

 	
  

 
	
GRANTOR:

 	
 AMREIT OLMOS CREEK, LP,
 a Texas limited partnership

 
	
  

 	
 By:

 	
 AmREIT Olmos
 Creek GP, Inc., a Texas corporation, its general partner

 

	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
 By:

 	
  

 
	
  

 	
 Name:

 	
  

 
	
  

 	
 Title:

 	
  

 

	
  

 	
  

 	
  

 
	
 STATE OF
 TEXAS

 	
 §

 	
  

 
	
  

 	
 §

 	
  

 
	
 COUNTY OF
 HARRIS

 	
 §

 	
  

 

          This
instrument was acknowledged before me on February ___, 2012, by
_________________________, ____________________ of AmREIT Olmos Creek GP, Inc.,
a Texas corporation, the general partner of AmREIT Olmos Creek, LP, a Texas
limited partnership, on behalf of said corporation and limited partnership.

	
  

 	
  

 
	
  

 	
  

 
	
  

 	
 Notary
 Public, State of Texas

 
	
  

 	
  

 
	
  

 	
 Printed name
 of notary

 
	
  

 	
  

 
	
  

 	
 My
 Commission Expires: _________________________________

 

M-2

EXHIBIT
A

LEGAL
DESCRIPTION

Lot 3, Block
2, New City Block 17842, Olmos Creek Office Park, an Addition to the City of
San Antonio, Bexar County, Texas, according to the map or plat thereof recorded
in Volume 9530, Page 137, Deed and Plat Records, Bexar County, Texas.

M-3

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