Document:

Lease Agreement (releated to the Commerce Street Building)

 Exhibit 10.5 
  
 LEASE AGREEMENT 
 (the
“Lease”) 
 by and between 
 K & M ENTERPRISES, 
 a Tennessee general partnership 
 (“Landlord”) 
 and 
 COUNTRY MUSIC TELEVISION, INC., 
 a Tennessee corporation 
 (“Tenant”) 
 dated 
 March 4, 2002 
 for 
 Third and Fourth Floors of Office Space 
 (containing 
 approximately 57,345 square feet of net rentable area) 
 and related parking 
 at The Commerce Street Building 
 330 Commerce Street 
 Nashville, Tennessee

 TABLE OF CONTENTS 
  

			
	 	  	PAGE
		
	 Article I          SUMMARY OF LEASE PROVISIONS AND EXHIBITS
	  	1
	 SECTION 1.1 - Fundamental Lease Provisions
	  	1
	 SECTION 1.2 - Effect of Summary and Reference to Fundamental Lease Provisions
	  	2
	 SECTION 1.3 - Exhibits
	  	2
		
	 Article II        PREMISES AND TERM
	  	3
	 SECTION 2.1 - Premises
	  	3
	 SECTION 2.2 - Term; Renewal Terms
	  	4
	 SECTION 2.3 - Completion and Occupancy
	  	6
		
	 Article III        CONSTRUCTION
	  	8
	 SECTION 3.1 - Condition of Premises; Tenant’s Work
	  	8
	 SECTION 3.2 - Early Commencement Date
	  	9
	 SECTION 3.3 - Ownership of Improvements
	  	9
		
	 Article IV        RENT
	  	9
	 SECTION 4.1 - Payment
	  	9
	 SECTION 4.2 - Fixed Minimum Rent
	  	10
	 SECTION 4.3 - Adjustment of Fixed Minimum Rent
	  	10
	 SECTION 4.4 - Operating Expenses
	  	10
	 SECTION 4.5 - Late Payment Penalty
	  	15
	 SECTION 4.6 - Additional Rent
	  	15
	 SECTION 4.7 - Rent for a Partial Month
	  	15
		
	 Article V          UTILITY SERVICES
	  	15
	 SECTION 5.1 - Utilities
	  	15
		
	 Article VI        LANDLORD’S ADDITIONAL COVENANTS
	  	17
	 SECTION 6.1 - Repairs by Landlord
	  	17
	 SECTION 6.2 - Quiet Enjoyment
	  	17
	 SECTION 6.3 - Landlord’s Liability
	  	17
	 SECTION 6.4 - Services
	  	18
	 SECTION 6.5 - Common Areas
	  	19
	 SECTION 6.6 - Signage; Naming Rights for Building
	  	19
	 SECTION 6.7 - Access
	  	19
		
	 Article VII        TENANT’S ADDITIONAL COVENANTS
	  	19
	 SECTION 7.1 - Affirmative Covenants
	  	19
	 SECTION 7.2 - Negative Covenants
	  	23

  

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	 Article VIII     DESTRUCTION AND CONDEMNATION
	  	25
	 SECTION 8.1 - Destruction by Fire or Other Casualty
	  	25
	 SECTION 8.2 - Eminent Domain
	  	27
		
	 Article IX        DEFAULTS AND REMEDIES
	  	28
	 SECTION 9.1 - Default
	  	28
	 SECTION 9.2 - Bankruptcy
	  	29
	 SECTION 9.3 - Remedies of Landlord
	  	29
	 SECTION 9.4 - Waiver of Jury Trial; Tenant Not to Counterclaim
	  	30
	 SECTION 9.5 - Holdover by Tenant
	  	31
	 SECTION 9.6 - Landlord’s Right to Cure Defaults
	  	31
	 SECTION 9.7 - Effect of Waivers of Default
	  	31
	 SECTION 9.8 - Security Deposit
	  	31
	 SECTION 9.9 - Landlord’s Default
	  	31
		
	 Article X        MISCELLANEOUS PROVISIONS
	  	32
	 SECTION 10.1 - Notices
	  	32
	 SECTION 10.2 - Estoppel Certificates
	  	33
	 SECTION 10.3 - Applicable Law and Construction
	  	34
	 SECTION 10.4 - Binding Effect of Lease
	  	34
	 SECTION 10.5 - Effect of Unavoidable Delays
	  	34
	 SECTION 10.6 - Subordination
	  	35
	 SECTION 10.7 - No Waiver
	  	35
	 SECTION 10.8 - No Oral Changes
	  	36
	 SECTION 10.9 - No Representations by Landlord
	  	36
	 SECTION 10.10 - Changes in Entrances and Other Public Areas
	  	36
	 SECTION 10.11 - Risk of Loss or Damage to Personal Property, Etc.
	  	36
	 SECTION 10.12 - Rules and Regulations
	  	37
	 SECTION 10.13 - Telecommunications
	  	37
	 SECTION 10.14 - Roof Installations; Roof Rights
	  	37
	 SECTION 10.15 - Right of First Refusal; Right to Expand
	  	38
	 SECTION 10.16 - Interruption of Service
	  	39
	 SECTION 10.17 - Covenant of Confidentiality
	  	39
	 SECTION 10.18 - Binding Effect; Time of Essence
	  	40
	 SECTION 10.19 - Retail Lease
	  	40
	 SECTION 10.20 - Attorneys’ Fees
	  	40
	 SECTION 10.21 - Generator
	  	40
	 SECTION 10.22 - Brokers
	  	40
	 SECTION 10.23 - Environmental Warranties and Representations
	  	41
	 SECTION 10.24 - Additional Parking
	  	42
	 SECTION 10.25 - Right to Deduct and Offset
	  	42
	 SECTION 10.26 - Compliance with Law
	  	43
	 SECTION 10.27 - Landlord’s Insurance
	  	43

  

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 ARTICLE I 
 SUMMARY OF LEASE PROVISIONS AND EXHIBITS 
 SECTION 1.1 - Fundamental Lease Provisions: 
  

			
	DATE:	  	 March 4, 2002

		
	RENT COMMENCEMENT DATE:	  	 October 1, 2002

		
	TERMINATION DATE:	  	 September 30, 2009

		
	LANDLORD:	  	 K&M Enterprises,

		  	 a Tennessee general partnership

		
	ADDRESS OF LANDLORD:	  	 2617 Grandview Avenue

		  	 Nashville, Tennessee 37211

		  	 Attn: Walter G. Knestrick

		
	TENANT:	  	 Country Music Television, Inc.,

		  	 a Tennessee corporation

		
	ADDRESS OF TENANT:	  	 See Section 10.1

		
	BUILDING ADDRESS:	  	 330 Commerce Street

		  	 Nashville, Tennessee

		
	FIXED MINIMUM RENT:	  	Year 1 $917,520.00 or $76,460.00 per month ($16.00 psf)
		  	Year 2 $940,458.00 or $78,371.50 per month ($16.40 psf)
		  	Year 3 $963,396.00 or $80,283.00 per month ($16.80 psf)
		  	Year 4 $986,334.00 or $82,194.50 per month ($17.20 psf)
		  	Year 5 $1,009,272.00 or $84,106.00 per month ($17.60 psf)
		  	Year 6 $1,032,210.00 or $86,017.50 per month ($18.00 psf)
		  	Year 7 $1,055,148.00 or $87,929.00 per month ($18.40 psf)
		
	NET RENTABLE AREA OF PREMISES:	  	 Approximately 57,345 square feet

  

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	NET RENTABLE AREA OF BUILDING:	  	 Approximately 114,690 square feet

		
	TENANT’S PERCENTAGE:	  	 50%

		
	LEASE TERM:	  	
		
		  	 From the Commencement Date as defined under
 Section 2.2 until September 30, 2009

		
	OPTIONS:	  	 Two (2) Five (5) Year Options to Renew

		
	PERMITTED USE:	  	 General Office, Television Production and all other legal uses

		
	SECURITY DEPOSIT:	  	 None

		
	RULES AND REGULATIONS:	  	 Attached

 SECTION 1.2 - Effect of Summary and Reference to Fundamental Lease Provisions: 
 Each reference in this Lease to any of the Fundamental Lease Provisions contained in Section 1.1 shall be construed to incorporate
all of the terms provided under such Fundamental Lease Provision. 
 SECTION 1.3 - Exhibits: 
 The exhibits listed in this Section and attached to this Lease are hereby incorporated in and made a part of this Lease: 
 Exhibit “A” - Legal Description 
 Exhibit “B” - Space
Plans 
 Exhibit “C” - Description of Tenant’s Work. If not available as of the execution of this Lease,  

Exhibit “C” shall be supplemented following the execution of this Lease with the final plans and drawings for construction of the
Premises. 
 Exhibit “D” - HVAC Specifications 
  

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 Exhibit “E” - Cleaning Specifications 
 Exhibit “F” - List of Parking Garages 
 Exhibit “G” - Form of Subordination, Non-Disturbance and
Attornment Agreement 
 Exhibit “H” - Form of Retail Lease 
 ARTICLE II 
 PREMISES AND TERM 
 SECTION 2.1 - Premises: 
 (a)
    Landlord hereby leases to Tenant and Tenant hires and takes from Landlord the premises (the “Premises”) comprising the entire Third and Fourth Floors of the , office building known as The Commerce Street Building,
330 Commerce Street, described Nashville, Tennessee (the “Building”) located within the parcel of air space (the “Parcel”) described on Exhibit “A” attached hereto. The Premises contain approximately 57,345
rentable square feet and are delineated on the Space Plans attached hereto as Exhibit “B”. Tenant is also granted rights of ingress and egress to the Premises and the Building through the elevator and lobby areas servicing the
Building. The Premises are leased to Tenant subject to and with the benefits of the terms of this Lease, together with the appurtenances specifically granted in this Lease, but reserving and excepting to Landlord, provided the same do not interfere
with Tenant’s occupancy of the Premises, (i) the use of the exterior faces of the walls (other than Tenant’s signage) and (ii) the right to install, maintain, use, repair and replace pipes, ducts, conduits and wires through the
Premises serving the other parts of the Building. 
 (b)     In addition, Landlord hereby leases to
Tenant and Tenant hires and takes from Landlord sixty (60) parking spaces (the “CMT Parking”) on the top two (2) floors (the “Parking Area”) of the parking structure above which the Building is located, at a cost to
Tenant of $90.00 per parking space per month ($5,400.00), to be paid with the Fixed Minimum Rent described in Article IV. The parking charge for the CMT Parking shall remain at $90.00 per parking space for the first Renewal Term. The parking charge
for the CMT Parking during the second Renewal Term shall be 95% of the average monthly rate charged as of the commencement of the second Renewal Term by the three (3) parking garages identified on Exhibit “F” attached hereto.
Landlord shall furnish card key entry to the Parking Area and shall provide sixty (60) card keys to Tenant for the CMT Parking. Tenant shall have the discretion to use such card keys for its employees, agents, visitors and guests. Landlord
shall not issue more card keys than parking spaces that exist within the Parking Area. 
 (c)     In
addition to the CMT Parking, Landlord hereby leases to Tenant and Tenant hires and takes from Landlord the remaining parking spaces (the “Additional Spaces”) located in the Parking Area, at a cost to Tenant of $75.00 per parking space per
month, to be paid with the Fixed Minimum Rent described in Article IV. Landlord estimates that there will be 69 

  

 3 

 
Additional Spaces. Tenant shall only be obligated to pay for the number of Additional Spaces provided. The parking charge for the Additional Spaces shall
remain at $75.00 per parking space throughout the term of the Lease. Landlord shall provide a card key to Tenant for each of the Additional Spaces. Landlord shall have the right to withdraw (i) all or (ii) thirty (30) (but not any
other number) of the Additional Spaces from Tenant at any time prior to March 31, 2004 upon providing Tenant with at least 60 days’ prior written notice. Tenant shall have the ongoing right to return all or any portion of the Additional
Spaces to Landlord effective at any time after March 31, 2004 upon providing Landlord with at least 60 days’ prior written notice. 
 SECTION
2.2 - Term; Renewal Terms: 
 The term of this Lease shall commence following the date of the execution of this
Lease (the “Commencement Date”), Rent shall commence (the “Rent Commencement Date”) on October 1, 2002 and the term of the Lease shall end at noon on September 30, 2009 (the “Termination Date”). Tenant shall
have the right following completion of the Tenant’s Work (as defined in Article III herein) to occupy the Premises and to open for business prior to the Rent Commencement Date in accordance with the provisions of Section 3.2 hereof.

 Provided Tenant shall then be in compliance with all of the terms and conditions of this Lease, Landlord grants to Tenant
two (2) options to renew (each a “Renewal Option” and collectively the “Renewal Options”) the term of this Lease for a period of sixty (60) additional months each (each a “Renewal Term” and collectively the
“Renewal Terms”). Tenant shall exercise each Renewal Option by delivering written notice of such election to Landlord at least two hundred seventy (270) days prior to the expiration of the term of this Lease then in effect. The
renewal of this Lease shall be upon the same terms and conditions of this Lease, except (i) the Fixed Minimum Rent during each Lease Year of the first Renewal Term shall be an amount equal to the Fixed Minimum Rent payable for the most recent
Lease Year increased by $.40 per square foot as increased annually during the initial term of the Lease (or $18.80 per square foot for Year 1, $19.20 per square foot for Year 2, $19.60 per square foot for Year 3, $20.00 per square foot for Year 4,
and $20.40 per square foot for Year 5 of the first Renewal Term); and (ii) the Fixed Minimum Rent payable for the second Renewal Term shall be at ninety five percent (95%) of the Prevailing Rent, and the Base Year for purposes of
Tenant’s Pro-Rata Percentage of Operating Expenses shall be revised from calendar year 2003 to the first full calendar year of the second Renewal Term. The Prevailing Rent shall be determined in accordance with the procedure set forth in the
next paragraph. As used in this Lease, “Prevailing Rent” for the Premises shall mean the effective base rental rate per rentable square foot per annum, that would be received in arms’ length transactions by landlords renting
comparable office space in comparable buildings (i.e., as to age, location and quality) in equally desirable parts of the downtown Nashville central business district to tenants in new direct (or, where applicable, similar renewal or expansion)
transactions as of the date a determination of Prevailing Rent is required pursuant to the terms hereof, adjusted to reflect the then-current value of the following costs and expenses, if applicable at the time, and to the extent saved by Landlord
(and not already taken into account in the comparable rental rates) (i) cooperating broker leasing commissions, (ii) allowances toward the cost of tenant improvements, (iii) rental abatements, and (iv) other concessions customary
at that time. Such data regarding applicable transactions shall 

  

 4 

 
be derived from transactions during the twelve (12) month period immediately preceding Tenant’s notice of its intent to exercise its option, with
data from more recent transactions having precedence over data from less recent transactions 
 In the event Tenant elects to
exercise the second Renewal Option as set forth above, Landlord shall, within twenty (20) days after receipt of Tenant’s notice of exercise, notify Tenant in writing of the Fixed Minimum Rent payable for the second Renewal Term
(“Proposed Renewal Rental”). Tenant shall within twenty (20) days following delivery of the Proposed Renewal Rental by Landlord notify Landlord in writing of the acceptance or rejection of the Proposed Renewal Rental. If Tenant
accepts Landlord’s proposal, then the Proposed Renewal Rental shall be the rental rate in effect during the second Renewal Term. Failure of Tenant to respond in writing during the aforementioned twenty (20) day period shall be deemed a
rejection by Tenant of the Proposed Renewal Rental. Should Tenant reject (or be deemed to have rejected) Landlord’s Proposed Renewal Rental during such twenty (20) day period, then the Fixed Minimum Rental for the second Renewal Rental
shall be 95% of the Prevailing Rent determined as follows: 
  

	 	1.	 Within five (5) business days after the expiration of the second twenty (20) day period, Landlord shall send written notice to Tenant designating the
name of the Landlord’s independent, third party real estate broker in the Nashville, Tennessee area having no less than ten (10) years experience in commercial leasing and who is recognized as ethical and reputable within his or her field,
with such arbitrator using the standards described herein for Prevailing Rent (“Landlord’s Arbitrator”). 

  

	 	2.	 Within five (5) business days of receipt of Landlord’s notice designating its third party real estate broker, Tenant shall notify Landlord of the name
of Tenant’s independent, third party real estate broker in the Nashville, Tennessee area having no less than ten (10) years experience in commercial leasing and who is recognized as ethical and reputable within his or her field, with such
arbitrator using the standards described herein for Prevailing Rent (“Tenant’s Arbitrator”). 

  

	 	3.	 Within ten (10) business days after the appointment of Tenant’s Arbitrator, both Landlord’s Arbitrator and Tenant’s Arbitrator shall appoint
a third independent, real estate broker in the Nashville, Tennessee area having no less than ten (10) years experience in commercial leasing and who is recognized as ethical and reputable within his or her field, with such arbitrator using the
standards described herein for Prevailing Rent (“Third Party Arbitrator”). 

  

	 	4.	 As promptly as possible, but no later than thirty (30) days after the appointment of the Third Party Arbitrator, each of the three arbitrators shall submit
to Landlord and Tenant his/her determination of the Prevailing Rent. In determining Prevailing Rent, the parties (or brokers, as applicable) shall take into account all terms and conditions of the Lease. The average of the closest two of such
determinations shall be the Prevailing Rent for the second Renewal Term. 

  

 5 

	 	5.	 If either party shall fail to appoint an arbitrator having the aforesaid qualifications, within the time periods specified above, the arbitrator appointed by the
other party shall alone proceed to determine the Prevailing Rent. If Landlord’s Arbitrator and Tenant’s Arbitrator are unable to agree on the Third Party Arbitrator, within the time period specified above, the Third Party Arbitrator shall,
at the election of either party, be appointed by the American Arbitration Association (or any successor organization thereto), or in the event of its refusal, failure or inability to act within such time period, by a court of competent jurisdiction.
The determination of the Prevailing Rent made pursuant to the preceding portions of this paragraph shall be conclusive and binding on the parties, and final and non-appealable judgement thereon may be entered in any court of appropriate
jurisdiction. 

  

	 	6.	 Each party shall bear the cost of its arbitrator and one half of the cost of the Third Party Arbitrator. 

  

	 	7.	 Each party shall be entitled to present evidence and arguments to the arbitrator(s). 

  

	 	8.	 Each arbitrator shall be required to give written notice to the parties stating his/her determination, and shall furnish to each party a signed copy of such
determination. 

 The parties acknowledge the importance of completing the determination of the Prevailing Rent as
expeditiously as possible. Accordingly, the parties agree to instruct their respective arbitrators to appoint the Third Party Arbitrator within ten (10) business days after the appointment of Tenant’s Arbitrator and to instruct the three
arbitrators to make their final determinations of the Prevailing Rent within thirty (30) days after the appointment of the Third Party Arbitrator. 
 SECTION 2.3 - Completion and Occupancy: 
 2.3.1   Subject to the performance of
Landlord’s Work (as hereinafter defined) and as otherwise set forth herein, Tenant acknowledges that it is leasing the Premises on an “as-is” basis and that all tenant improvement costs requested or desired shall be made by Tenant at
its sole cost. Landlord hereby grants Tenant the right to demolish the existing improvements in the Premises, including but not limited to the dismantling and removal of the demountable wall systems. Landlord shall deliver the 30 ton Trane rooftop
unit (the “Supplemental Unit”) to Tenant in good operating order and condition; it being understood that Tenant shall have no right to utilize the other existing rooftop HVAC equipment. Tenant shall endeavor to complete the Tenant’s
Work set forth in Article III hereof and to have the Premises ready for occupancy on or before the specific date hereinbefore designated for the Rent Commencement Date. If the Premises are not ready for the Tenant’s occupancy on said
specific date, other than due to the failure of Landlord to timely complete Landlord’s Work, then this Lease shall not be affected thereby and Tenant shall not have any claim against Landlord or any claim that Fixed Minimum 

  

 6 

 
Rent shall not be due on the Rent Commencement Date, and Landlord shall have no liability to Tenant, by reason of any such postponement of such specific
date. 
 Landlord shall be responsible for (i) removing from the Premises all kitchen equipment and loose furniture and
equipment located in the Premises (including but not limited to all free standing chairs, file cabinets, desks, credenzas and book cases) and (ii) in the Training Room located in the Premises, for dismantling and removing all fixtures, built-in
and free standing desks, and the podium (collectively, the “Initial Work”). Landlord shall complete the Initial Work within thirty (30) days of the execution of this Lease. 
 In addition to the Initial Work, Landlord shall be responsible to remove the vault from the Premises (the “Vault Removal”).
Landlord shall use its best efforts to complete the Vault Removal within thirty (30) days of the execution of this Lease. 
 The Building currently includes an internal stairwell between the second and third floors of the Building. In addition to the Initial Work and the Vault Removal, Landlord shall be responsible to (i) close off the internal stairwell so
that the Premises shall be secure from the other floors of offices in the Building and (ii) ensure HVAC capacity in order to comply with the performance specifications set forth in Exhibit “D” attached hereto (collectively, the
“Supplemental Work”). (The Initial Work, the Vault Removal and the Supplemental Work are hereinafter collectively referred to as the “Landlord’s Work.”) Within thirty (30) days of the execution of this Lease, Landlord
shall provide Tenant with copies of all plans and drawings for the Supplemental Work for Tenant’s review and approval, which approval shall not be unreasonably withheld. Tenant shall complete its review and approval of said plans and drawings
within seven (7) business days after receipt. In performing the Supplemental Work, Landlord shall comply with all applicable fire safety regulations related to the stairwell. Landlord shall complete the Supplemental Work no later than
May 31, 2002. 
 Landlord shall notify Tenant when the Initial Work, the Vault Removal and the Supplemental Work,
respectively, is completed. Following each such notice of completion, Tenant shall have the right to inspect the work and notify Landlord of any objection or inadequacy of the work within fifteen (15) days after Landlord’s notice to Tenant
of its completion. Following receipt of such notice, Landlord shall have a right to correct any objection contained in such notice from Tenant or other deficiency raised by Tenant as to the adequacy of such work. In the event Tenant fails to so
notify Landlord within said fifteen (15) day period, Tenant shall be deemed to have accepted such work as complete. Following completion of the Initial Work, Tenant shall have access to the Premises for commencement of the Tenant’s Work
and installation of Tenant’s furniture and other improvements. 
 If Landlord fails to complete the Initial Work, the
Vault Removal or the Supplemental Work, respectively, within the respective times set forth herein, Tenant shall have the right to complete such work at the expense of Landlord, and Landlord shall reimburse Tenant for all costs incurred in
connection therewith promptly upon demand. 
  

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 2.3.2   The Premises shall be conclusively deemed ready for Tenant’s
occupancy as soon as (i) a certificate (temporary or final) permitting occupancy of the Premises has been issued by the governmental authority having jurisdiction, and (ii) the work to be done by Tenant (referred to on Exhibit
“C” annexed hereto and made a part hereof) in the Premises have been substantially completed by Tenant in accordance with the obligations assumed by Tenant hereunder. If not available as of the execution of this Lease, Exhibit
“C” shall be supplemented following the execution of this Lease with the final plans and drawings for construction of the Premises. Landlord shall’ cooperate with Tenant in obtaining a certificate of occupancy for the Premises.
Tenant acknowledges that other than (i) Landlord’s initial review of the Tenant’s final plans and drawings as set forth herein and (ii) completion of the Landlord’s Work, Landlord shall have no responsibility for completion
of the construction or renovation of the Premises, or the compliance of the Tenant’s Work with all local, state and federal laws and regulations including without limitation the Americans with Disabilities Act (ADA). The Premises shall not be
deemed to be unready for Tenant’s occupancy or incomplete, nor shall the Rent Commencement Date be delayed, for any reason related to the details of construction, decorations or mechanical adjustments required to be done in the Premises, or if
the delay in the availability of the Premises for occupancy shall be due to special work, changes, alterations or additions of Tenant in the layout or finish of the Premises or any part thereof, unless due to Landlord’s acts. 
 2.3.3   Tenant prior to commencement of construction of the Tenant’s Work shall make timely submission to Landlord of the
final plans and drawings referred to in Exhibit “C” for Landlord’s review and approval, which approval shall not be unreasonably withheld, delayed or conditioned. For Tenant’s Work consisting only of the office space on
the third and fourth floors (but not the lobby area and Building exterior), Landlord’s failure to approve plans and drawings on any grounds other than code compliance issues and for building structure reasons, shall be deemed unreasonable.
Landlord shall complete its review and approval of said plans and drawings within seven (7) business days after receipt. If not available as of the execution of this Lease, Exhibit “C” shall be supplemented following the
execution of this Lease with the final plans and drawings for construction of the Premises. 
 ARTICLE III 
 CONSTRUCTION 
 SECTION 3.1 - Construction of
Premises; Tenant’s Work: 
 Tenant acknowledges that, subject to the Landlord’s Work, it is leasing the
Premises in its “as-is” condition and Landlord shall have no responsibility to renovate or construct any portion of the Premises for Tenant’s use. Tenant shall perform all of the work (the “Tenant’s Work”) with respect
to the Premises on behalf of Tenant as set forth in the description of the Tenant’s Work attached hereto as Exhibit “C”. Tenant shall have the right to use the services of any licensed and reputable contractors, subcontractors,
architects, engineers and other consultants it deems necessary and appropriate, at its sole discretion for completion of the Tenant’s Work, which it deems necessary and appropriate, at its sole discretion. During its 

  

 8 

 
performance of Tenant’s Work, Tenant shall be afforded access to the Premises through the lobby of the Building and shall be permitted to use the top
floor of the Parking area as a staging area. Tenant shall not be charged for electricity, HVAC, elevators or the use of the freight dock during its performance of Tenant’s work. 
 Following completion of Tenant’s Work, Tenant shall furnish to Landlord a certified statement of the final cost of Tenant’s
Work and such other reasonable information that Landlord shall request in connection therewith. 
 SECTION 3.2 - Early Commencement Date:

 If Tenant has substantially completed the Tenant’s Work prior to the specific date mentioned in Section 2.2
hereof, Tenant shall have the right to enter into possession of the Premises. Under such circumstances, the term of the Lease shall commence on such date the Tenant occupies the Premises and conducts business therein (the “Early Commencement
Date”). Tenant shall not pay any Fixed Minimum Rent prior to the Rent Commencement Date despite such early occupancy; however, Tenant shall pay its Pro Rata Percentage of the Proforma Operating Expenses of the Building (as defined in
Section 4.4) from and after the date of the Early Commencement Date until the Rent Commencement Date. 
 SECTION 3.3 - Ownership of
Improvements: 
 All Tenant’s Work, installations, alterations, additions or improvements (the
“Improvements”) upon the Premises made by either party shall become the property of the Landlord and shall remain upon and be surrendered with the Premises as a part thereof at the expiration or sooner termination of the term of the Lease.
Landlord may require Tenant to remove any structural alterations made by Tenant as part of the Tenant’s Work by giving notice of such requirement to Tenant at the time Landlord grants its consent to such alterations. Movable office furniture,
office equipment and trade fixtures which are installed by Tenant at its expense shall remain the property of Tenant and may be removed at any time prior to the expiration of the term of the Lease, provided Tenant promptly repairs any damage caused
by such removal. 
 ARTICLE IV 
 RENT 
 SECTION 4.1 - Payment: 
 All Fixed Minimum Rent and other charges, including payment of all parking expenses, payable to Landlord under any provision of this Lease shall be paid to Landlord, or as Landlord may otherwise
designate, in lawful money of the United States which shall be legal tender in payment of all debts and dues, public and private, at the time of payment at the Address of Landlord or at such other place as Landlord in writing may designate, without
any set-off or 

  

 9 

 
deduction whatsoever, except as otherwise set forth herein, and without any prior demand therefor. In addition to the payment of Fixed Minimum Rent and other
charges, Tenant shall also pay to Landlord, at the time of payment of such Fixed Minimum Rent and other charges, all sales, use or occupancy taxes or lease taxes payable by virtue of any such payments to the extent such taxes are required in
Nashville, Tennessee to be paid by Tenant as a result of Tenant’s occupancy. 
 SECTION 4.2 - Fixed Minimum Rent: 
 Tenant shall pay the annual Fixed Minimum Rent in equal monthly installments in advance on the first day of each calendar month included
in the term of the Lease. Fixed Minimum Rent shall be due as follows: 
 Year 1 $917,520.00 or $76,460.00 per month ($16.00
psf) 
 Year 2 $940,458.00 or $78,371.50 per month ($16.40 psf) 
 Year 3 $963,396.00 or $80,283.00 per month ($16.80 psf) 
 Year 4 $986,334.00 or $82,194.50 per month ($17.20 psf) 
 Year 5
$1,009,272.00 or $84,106.00 per month ($17.60 psf) 
 Year 6 $1,032,210.00 or $86,017.50 per month ($18.00 psf) 

Year 7 $1,055,148.00 or $87,929.00 per month ($18.40 psf) 
 The first monthly installment of Fixed Minimum Rent shall be due on the Rent Commencement Date. 
 SECTION 4.3 - Adjustment of Fixed Minimum Rent: N/A. 
 SECTION 4.4 - Operating
Expenses: 
 4.4.1   Beginning as of January 1, 2004, in addition to the Fixed Minimum Rent, Tenant shall
pay to Landlord Tenant’s Percentage (as such term is hereinafter defined) of the increase in Operating Expenses (as such term is hereinafter defined) paid in any calendar year occurring during the term of the Lease which is in excess of the
greater of (i) $7.25 per rentable square foot contained in the Premises (the “Proforma Operating Expenses”) and (ii) the actual Operating Expenses paid in Calendar Year 2003 (the “Base Year”). As used herein,
“Tenant’s Percentage” shall mean the percentage of the net rentable area of the Building that the net rentable area of the Premises comprises, which percentage as of the Commencement Date is fifty percent (50%). The Operating Expenses
for the Base Year and all subsequent years shall assume a ninety-five percent (95%) occupancy for the Building. Tenant agrees to pay its share of the increase in Operating Expenses over the Base Year, as additional rent, in monthly payments in
advance during the term of this Lease as may be reasonably estimated by Landlord. Within thirty (30) days of the end of each calendar year, Landlord shall advise Tenant of Tenant’s share of the Operating Expenses payable for such year as
computed in good faith, without duplication, by Landlord. If there shall have been an underpayment by Tenant, Tenant shall forthwith pay the difference, and if there shall be an overpayment by Tenant, Tenant shall be given a credit 

  

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towards the next due payment(s) of its share of Operating Expenses. Operating Expenses payable by Tenant during the first Renewal Term shall continue to use
the same Base Year. The Base Year for the second Renewal Term shall be the first complete calendar year of the second Renewal Term. 
 4.4.2   “Operating Expenses” shall mean and include, with respect to a particular Leasehold Year, the total dollar amount of all costs and expenses reasonably and necessarily paid by Landlord because of or in connection
with the ownership, control, operation, repair, management, replacement, cleaning or maintenance of the Premises or Building, all related improvements thereto or thereon and all machinery, equipment, fixtures and other facilities, including personal
property, as may now or hereafter exist in or on the Premises or Building. Operating Expenses shall include, without limitation, the following: (a) The portion of wages, salaries, fees, related taxes, insurance costs, benefits (including
amounts payable under medical, pension and welfare plans and any amounts payable under collective bargaining agreements) and reimbursement of expenses of or relating to all personnel to the extent of services specifically rendered or performed in
operating, repairing, managing, replacing, cleaning and maintaining the Premises and Building; (b) All supplies and materials used in operating, repairing, cleaning and. maintaining the Premises and Building, excluding the replacement of light
bulbs/tubes in the Premises, the cost of which shall be Tenant’s responsibility hereunder; (c) Legal and accounting fees paid to unrelated third parties; (d) Costs of all utilities for the Premises and Building, which Landlord is
required to pay, including, without limitation, water, sewer, power, fuel, beating, lighting, air conditioning and ventilating; (e) Fees and other charges payable under or in respect of all maintenance, repair, cleaning, garbage removal and
other service agreements for or pertaining to the Premises and Building; (f) Cost of all insurance premiums covering the Premises and Building, its occupancy or operations; (g) Cost of repairs and maintenance of the Building, excluding
only such costs which are paid by the proceeds of insurance, or are paid wholly by Tenant to third parties or wholly by other than Landlord or Tenant to third parties; (h) Real estate maintenance costs for the Premises and Building;
(i) Security services for the Premises and Building; (j) Computer and electronic data processing equipment and services costs relating to the operation, maintenance and management of the Building; (k) Management fees of Landlord or
Landlord’s designated property management company for the Premises and Building (which fees shall not exceed three and one half percent (3.5%) of the fixed minimum rent payable by all tenants in the Building); (l) Real Estate Taxes
(as hereinafter defined); (m) All license fees, permit fees, drainage or easement fees, joint access/landscape fees, joint utility fees, restrictive covenant assessments or similar fees, and other fees and expenses required to be paid by
Landlord in connection with the operation and leasing of the Premises and Building; and (n) All other costs and expenses which are related to, or incidental to, or reasonably necessary, appropriate or desirable in connection with the
management, operation and maintenance of the Building. At the commencement and upon termination of the term of the Lease, Operating Expenses will be appropriately prorated to reflect the portion of the term for which the same have been paid or
incurred. Operating Expenses shall not include debt service payments or the cost of Capital Investment Items except as provided herein in this Section 4.4. Operating Expenses shall also not include the following: 
  

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 1.     Real property taxes or increases thereto attributable to
transfer of the Building or any interest therein or the land upon which the Building is situated or in Landlord, or a refinancing thereof or franchise, inheritance or capital stock taxes imposed upon or measured by the income or profits of Landlord.

 2.     Depreciation or amortization. 
 3.     The cost of any item or expense, which, in accordance with generally accepted accounting principles is, or
should be, capitalized on the books of Landlord. 
 4.     The cost of any alterations, additions,
changes or decorations which are made in order to prepare any space for tenant occupancy, whether new or continued. 
 5.
    The general overhead of Landlord and labor costs (including salaries, wages, bonuses, medical, surgical and general welfare benefits (including life insurance), pension and union and general welfare payments and other fringe
benefits, severance and sick day payments and social security and payroll taxes) and all other compensation of all administrative personnel, officers, executives and staff members of Landlord or Landlord’s agents above the grade of building
manager. 
 6.     Any accrued and unfunded pension or other benefits for any personnel. 
 7.     Any rent, additional rent, imposition or other charge under any lease (including any ground or “sandwich
lease”) or sublease to or assumed by Landlord. 
 8.     Any cost which would otherwise be an
Operating Expense to the extent the same is reimbursable to Landlord by proceeds of insurance, condemnation award, refund, credit, warranty, service contract, any tenant (including Tenant) of the Building (except reimbursement pursuant to provisions
in the nature of this Section) or otherwise. 
 9.     Brokerage and leasing commissions, legal costs
(including attorneys’ fees and disbursements), space planning or architectural or engineering fees, closing costs and expenses and transfer and similar taxes incurred in leasing or procuring tenants for the Building, including Tenant, or in
connection with any mortgaging, financing, refinancing, transfer, sale of the Property or any part thereof or interest therein, or entering into or extending or modifying any lease, including this Lease, or sublease to or assumed by Landlord.

  

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 10.     The cost incurred by Landlord in performing work or
furnishing any service to or for a tenant of space in the Building (including Tenant) at such tenant’s cost and expense. 
 11.     Any amount paid to any affiliate of Landlord to the extent any such amount is unreasonable or otherwise in excess of the amount which would be paid in the absence of such relationship. 
 12.     Advertising, marketing or promotional expenditures. 
 13.     The cost of the acquisition or leasing of any artwork or sculptures (other than the costs of maintaining,
insuring and securing same). 
 14.     The cost of any construction or reconstruction of the Building.

 15.     Accounting fees, other than those incurred in connection with the operation of the Property
and the preparation of statements required pursuant to the provisions of this Lease and similar provisions or other leases of space in the Building. 
 16.     Costs and expenses (including court costs, attorneys’ fees and disbursements) related to or arising under or in connection with disputes with Tenant or any lender, or disputes which
result in punitive damages being assessed against Landlord, or disputes relating to clams of personal injury or property damage. 
 17.     Any costs incurred in the removal, containment, encapsulation, or disposal of or repair or cleaning (or monitoring) of areas affected by (a) any hazardous material or (b) any asbestos. 
 18.     Any cost or expense incurred in connection with correcting latent defects or inadequacies in the Building.

 19.     Late fees, penalties, interest charges or similar costs incurred by Landlord. 
 20.     Costs of complying with Americans with Disabilities Act and any other governmental regulation. 

21.     Debt service payments. 
 22.     Electricity for which any tenant is separately metered or submetered and pays Landlord or Utility provider directly. 
  

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 23.     Bad debt or rent loss. 
 24.     Costs for entertainment, gifts, and travel expenses. 
 25.     Costs of validated parking. 
 26.     Voluntary contributions. 
 27.
    Costs of maintaining and operating parking garage. 
 For the purposes of this Section 4.4, the
term “Real Estate Taxes” shall mean and include, unless otherwise specified, all federal, state, and local government taxes, assessments and charges of any kind or nature, whether general, special, ordinary or extraordinary, paid by,
imposed upon or assessed against Landlord or the Premises or Building during each Leasehold Year of the term of the Lease with respect to the ownership, management, operation, maintenance, repair or leasing of the Premises or Building. Taxes shall
include, without limitation, real property taxes and assessments, sewer assessments, charges, sales and use taxes, ad valorem taxes, personal property taxes, and all other taxes, assessments and charges in lieu of, or substituted for, any of the
foregoing taxes, assessments and charges. Taxes shall not include any federal, state or local government income, franchise, capital stock, inheritance or estate taxes, except to the extent such taxes are in lieu of or a substitute for any of the
taxes, assessments or charges previously described herein. Taxes shall also include the amount of all fees, costs and expenses (including without limitation, attorneys’ fees and court costs) paid or incurred by Landlord each Leasehold Year in
seeking or obtaining any refund or reduction of taxes or for contesting or protesting any imposition of taxes, whether or not successful and whether or not attributable to taxes assessed, paid or incurred in such Leasehold Year. At the commencement
and upon the termination of the term of the Lease, Taxes then paid or assessed will be appropriately prorated to reflect the portion of the period covered by such Taxes included within the term and if the amounts of Taxes then assessed but not then
due are not known, the Tenant shall pay to Landlord the appropriately prorated portion of such Taxes based upon the amounts due in the previous tax year. 
 Notwithstanding anything contained herein to the contrary, Tenant’s share of “Controllable Expenses” (as hereinafter defined) in any one calendar year shall not be increased by more than three and
one-half percent (3.5%) from the previous calendar year. “Controllable Expenses” shall mean all Operating Expenses other than Real Estate Taxes, municipal or other governmental charges of any kind, utilities, ice and snow removal,
insurance costs, and charges for trash dumpster removal. In the event the Consumer Price Index (seasonally adjusted United States City Average For All Items For All Urban Consumers” (1982-84=100) published monthly in the “Monthly Labor
Review” of the Department of Labor) (“CPI”) increases by more than five percent (5%) in any given calendar year, then the three and one-half percent (3.5%) limit as provided herein shall be converted to such CPI rate for
such calendar year. 
 Within three (3) months following the end of the Base Year and each calendar year thereafter,
Landlord shall provide to Tenant a line-item statement prepared by a certified public 

  

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accountant (the “Statement”), which shall state the Operating Expenses on a line-item basis as to the general categories of Operating Expenses, and
which shall be given to Tenant in a consistently similar line-item basis from year to year. Tenant, upon written request to Landlord, shall be provided with an additional itemized cost analysis in reasonable detail and shall have the right to have
its accountant review the records in support of Landlord’s cost analysis, at Tenant’s expense. In the event the audit results in a finding that Landlord has overcharged Tenant by five percent (5%) or more as to any calendar year, Landlord
shall pay the reasonable cost of said audit; provided, however, Tenant shall provide Landlord with thirty (30) days advance written notice of Tenant’s intent to have an audit performed on such records and to give Landlord an opportunity to
perform its own audit to review and correct any reasonable mistakes. 
 SECTION 4.5 - Late Payment Penalty: 
 A penalty of four percent (4%) per month of the Fixed Minimum Rent and parking charges and any additional rent due to increases in
Operating Expenses provided for in this Lease which is not paid within five (5) business days from the date due shall be assessed to Tenant. 
 SECTION 4.6 - Additional Rent: 
 In addition to the Fixed Minimum Rent, parking charges and any
additional rent due to increases in Operating Expenses, all other payments to be made hereunder by Tenant shall be deemed to be and shall become additional rent hereunder, whether or not the same be designated as such, and, unless another time shall
be herein expressly provided for the payment thereof, the same shall be due and payable within thirty (30) days of demand, and Landlord shall have the same remedies for failure to pay the same as for the nonpayment of Fixed Minimum Rent.

 SECTION 4.7 Rent for a Partial Month: 
 For any portion of a calendar month at the beginning or end of the term of the Lease, Tenant shall pay 1/30th of the monthly installment of Fixed Minimum Rent and additional rent for each day of such portion of a
month payable in advance at the beginning of such period. 
 ARTICLE V 
 UTILITY SERVICES 
 SECTION 5.1 - Utilities: 
 Landlord agrees to furnish to the Premises during generally recognized business days, and for the hours of 8:00 a.m. to 7:00 p.m., Monday
through Friday and 8:00 a.m. to 12:00 noon on Saturday (“Normal Business Hours”), exclusive of nationally recognized holidays, subject to the Rules and Regulations of the Building, heating, ventilation and air conditioning
(“HVAC”) for the comfortable use and occupancy of the Premises and in accordance with the performance specifications attached hereto as Exhibit “D”. 
  

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 If Tenant desires HVAC at any time outside of Normal Business Hours (“After-Hours
HVAC”), Landlord shall furnish such service upon reasonable notice from Tenant and Tenant shall pay the entire cost thereof within thirty (30) days of receipt of a statement from Landlord, which statement shall set forth such information
necessary for Tenant to verify that the cost charged to Tenant does not exceed Landlord’s actual cost of operating After-Hours HVAC to the Premises. Landlord’s rate for After-Hours HVAC shall not exceed rates for After-Hours HVAC then
being charged by first class office buildings in the central business district for Nashville, Tennessee. 
 Landlord shall
provide adequate electrical wiring, equipment, facilities and electricity to the Premises for Tenant’s lighting, normal desk top office equipment, including but not limited to personal computers, printers, scanners and normal copying equipment,
television and multimedia and editing equipment. Landlord shall also maintain and keep lighted the Parking Area, common stairs, common entries and restrooms in the Building in the manner and to the extent deemed by Landlord to be standard.

 In the event that Tenant requires electricity in amounts which are in excess of the amounts described herein (“Excess
Electric Usage”), Landlord shall furnish such service upon reasonable notice from Tenant and Tenant shall pay as additional rent a reasonable sum as reimbursement for the direct cost of such Excess Electric Usage. Said additional rent shall be
due and payable within thirty (30) days of receipt of an invoice from Landlord therefor. Any additional equipment, feeders or risers necessary to supply electrical requirements in excess of the amount to be provided by Landlord pursuant to this
subsection shall be supplied by Landlord at the expense of Tenant, provided such installations will not in Landlord’s judgment, overload the electrical system of the Building or entail excessive or unreasonable alterations to the Building or
the Premises. Excess Electric Usage shall include (i) machinery, lighting fixtures or equipment in the Premises having an electrical load in excess of 8 watts per square foot of rentable area of the Premises or occupancy in excess of one person
per 200 square feet of rentable area of the Premises, or any item of electrical equipment which (singularly) exceeds the electrical capacity of the risers serving the Premises, (ii) any electricity used or consumed by Tenant on the roof of the
Building or related to Tenant’s signage, and (iii) any material use of electricity by Tenant beyond Normal Business Hours. All electricity for the Supplemental Unit shall be separately metered at Tenant’s expense and paid for by
Tenant. Additionally, in the event that Tenant builds a central studio equipment room, a studio and control room, containing audio, video, lighting and production equipment, in the Premises during the construction of the Tenant’s Work, or at
any point during the term of the Lease, all electricity for such central studio equipment room, studio and control room shall be separately metered at Tenant’s expense and paid for by Tenant without regard to the payment of electricity by
Tenant or any other treatment of the payment of Excess Electric Usage or Operating Expenses in this Lease. The cost of any other meter and of its installation, maintenance and repair shall be paid for by the Landlord and Tenant agrees to pay to
Landlord within thirty (30) days of demand for all such Excess Electric Usage as shown by said meters, at the rates charged for such services by the local public utility. If a separate meter is not installed, or if Tenant disputes the amounts
charged by Landlord for Excess Electric Usage hereunder, the excess cost for such electric current shall be established by 

  

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an estimate made by a utility company or electrical engineer hired by Landlord, and reasonably acceptable to Tenant, at Landlord’s expense. 

Landlord shall provide hot and cold water from regular Building outlets for drinking and normal dining facilities, lavatory and toilet
purposes. Landlord shall not be in default hereunder or be liable for any damages directly or indirectly resulting from, nor shall the Rent be abated by reason of the governmentally mandated limitation, curtailment or rationing of, or restrictions
on, use of water, electricity, gas or any other form of energy serving the Premises or Building. Landlord shall not be liable under any circumstances for a loss of or injury to property or business, however occurring, through or in connection with
or incidental to failure to furnish any such services unless caused by the willful misconduct or gross negligence of Landlord, its agents, employees or contractors. 
 ARTICLE VI 
 LANDLORD’S ADDITIONAL COVENANTS 
 SECTION 6.1 - Repairs by Landlord: 
 Landlord covenants to keep in good order, repair and condition the structural soundness of the floors and walls and roof of the Building, the roof membrane, the Building facade and windows, the lobby, the common areas, passenger and freight
elevators, the HVAC system up to and including the main distribution loop (and including such equipment, if any, installed by Landlord to ensure additional HVAC capacity as part of the Supplemental Work, but not including the Supplemental Unit), the
electrical system up to and including the panels, subpanels and transformers, and the water and sewer pipes, ducts, conduits and wires running through the Premises (but not including Tenant’s service connections thereto) except as affected by
any work by or for Tenant or the negligence, act or omission of Tenant, its employees, agents and invitees. Landlord shall make all repairs required hereunder with reasonable promptness. The provisions of this Section shall not apply in the case of
damage by fire or casualty or by eminent domain, in which events the obligations of the Landlord shall be controlled by the applicable provisions of this Lease. Except as provided in this Lease, Landlord shall not be obligated to make repairs,
replacements or improvements of any kind upon the Premises or upon any equipment or facilities or fixtures contained herein, all of which shall be the responsibility of Tenant. 
 SECTION 6.2 - Quiet Enjoyment: 
 Landlord covenants that Tenant, on paying the
Fixed Minimum Rent and additional rent and performing Tenant’s obligations under this Lease shall peacefully and quietly have, hold and enjoy the Premises throughout the term of the Lease, subject to the other terms and provisions of this Lease
and to all mortgages and underlying leases to which this Lease may be or become subject and subordinate. 
 SECTION 6.3 - Landlord’s
Liability: 
  

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 In the event of a sale or assignment by Landlord of its interest in the Building, then,
and in that event, Landlord shall thereupon be entirely relieved of all terms, covenants, and obligations thereafter to be performed by Landlord under this Lease and it shall be deemed and construed, without further agreement, that the transferee or
lessee, as the case may be, has assumed and agreed to carry out any and all covenants and obligations of Landlord hereunder. 
 SECTION
6.4 - Services: 
 Landlord will furnish the following services to Tenant: 
 (a)     Three automatically operated passenger elevators and one automatically operated passenger/freight elevator
at all times and on all days throughout the year subject to such security arrangements (by key operation or otherwise) during non-business hours as Landlord shall deem prudent and necessary. 
 (b)     Heat, ventilation and air conditioning in accordance with the provisions of Section 5.1 and the
performance specifications set forth as Exhibit “D”. 
 (c)     Utilities in accordance
with the provisions of Section 5.1. 
 (d)     Landlord shall furnish such cleaning of the Premises
as in the judgment of Landlord is normal and usual in office buildings similar to the Building in the central business district in Nashville, Tennessee, and in accordance with the cleaning specifications attached hereto as Exhibit
“E”. 
 (e)     Exterior window washing at least two (2) times each calendar year,
the first of which shall occur prior to Tenant’s initial occupancy of the Premises. 
 (f)
    Carpet shampooing once each calendar year beginning in the year 2003. 
 (g)
    Hot and cold water to restrooms and restroom supplies. 
 (h)     Card-key
security system controlling entry to the Building and the elevators. 
 (i)     Building attendant
during eight (8) hours of the business day. 
 Such services shall be provided subject to interruptions caused by
repairs, renewals, improvements, changes of service, alterations, strikes, lockouts, labor controversies, inability to obtain fuel or power, accidents, breakdowns, catastrophes, national or local emergencies, acts of God, and conditions and causes
beyond the reasonable control of Landlord; and upon such happening, no claim for damages or abatement of rent for failure to furnish any such services shall be made by the Tenant or allowed by the Landlord; provided that same have not been caused by
the willful acts or omissions or gross negligence of Landlord, its agents, employees or 

  

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contractors. Landlord shall use best efforts to schedule non-emergency repairs, improvements, and alterations at such times so as to minimize interference
with Tenant’s business operations at the Premises. 
 SECTION 6.5 - Common Areas 
 Tenant and Tenant’s agents, employees and invitees shall have the right to use, in common with Landlord and Landlord’s tenants
and the agents, employees, and invitees of each, the public sidewalks, entrances, lobbies, vestibules, stairways, corridors, elevators, public toilets, and other public areas of the Building subject, however, to applicable rules, regulations, and
security measures; and Tenant and Tenant’s agents, employees, and invitees shall not obstruct or litter, or use for storage, temporary or otherwise, or for any purpose other than the intended or normal purpose, any of the public sidewalks,
entrances, lobbies, vestibules, stairways, corridors, elevators, public toilets, and other public areas of the Building. 
 SECTION
6.6 - Signage; Naming Rights for Building 
 Tenant shall have the exclusive right, at its expense, including
payment of all electricity related thereto, to install signs identifying Tenant at Tenant’s entrance and on the front of the Building, and on the roof, subject to Landlord’s reasonable approval, which approval shall not be unreasonably
withheld, delayed or conditioned. Tenant shall also be identified in the lobby directory. Tenant for so long as this Lease is in full force and effect shall have rights to designate the Building as the “CMT Building,” “Country Music
Television Building,” or any other name identifying the business conducted by Tenant at the Premises, approved in advance by Landlord, which approval shall not be unreasonably withheld, delayed or conditioned. 
 SECTION 6.7 - Access: 
 Tenant shall be afforded access to the Premises and Parking Area on a 24 hours per day, 7 days a week, 365 days a year basis. 
 ARTICLE VII 
 TENANT’S ADDITIONAL COVENANTS 
 SECTION 7.1 - Affirmative Covenants: 
 Tenant covenants,
at its own expense, at all times during the term of the Lease: 
 7.1.1   To perform promptly all of the
obligations of Tenant set forth in this Lease and in the exhibits attached hereto and to pay, when due, the Fixed Minimum Rent and all other charges and additional rents which by the terms of this Lease are to be paid by Tenant. 
  

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 7.1.2   To use the Premises only for general office, television production and
all other legally permitted uses (the “Permitted Use”) and to abide by and conform to any and all use restrictions set forth in the certificate of occupancy issued for the Premises and all other laws, orders, rules and regulations of any
governmental authority having or claiming jurisdiction over the Premises. 
 7.1.3   Except for repairs required to
be performed by Landlord pursuant to the provisions of this Lease, to keep the Premises, including equipment, facilities and fixtures therein, at Tenant’s sole cost and expense, in good order, repair, condition and free of vermin. 

7.1.4   Subject to Landlord’s obligations to ensure that the Building is in compliance with all applicable laws and
regulations, to make all repairs, alterations, additions, or replacements to the Premises, including equipment, facilities and fixtures therein required by any law or ordinance or any order or regulation of any governmental authority or board of
fire underwriters having jurisdiction or required by any insurance company providing coverage in any part of the Building; to keep the Premises equipped with all safety appliances so required because of such use and otherwise to comply with the
orders, regulations and recommendations of all such governmental authorities, board of fire underwriters and insurance companies. Tenant shall pay any fines, assessments, costs and expenses resulting from its violation of its undertakings as set
forth herein. 
 7.1.5   To pay promptly, when due, the entire cost of any work to the Premises, including
equipment, facilities and fixtures therein, undertaken by Tenant when permitted or required to do so under the provisions of this Lease so that the Premises shall at all times be .free of liens for labor and materials; to procure all necessary
permits before undertaking such work; to do all such work in a good and workmanlike manner as to insure proper maintenance of good and harmonious labor relationships; to comply with all governmental requirements relating thereto and to save Landlord
harmless and indemnified from all injury, loss, claims or damage to any person or property occasioned by or growing out of such work. 
 7.1.6   To defend and save Landlord harmless and indemnified from all injury, loss, claims or damage (including attorney’s fees and disbursements) to any person or property arising from, related to or
in connection with any work performed by or for Tenant in the Premises including the Tenant’s Work, or any use of the Premises including the roof of the Building. 
 7.1.7   Insurance Obligation. To maintain in responsible companies having a rating of not less than A-VII in Best’s Insurance Guide and licensed to do business in the State
of Tennessee (i) liability insurance, with contractual liability endorsement covering the matters set forth in this Lease, against all claims, demands or actions for injury to or death of any one person in an amount of not less than $2,000,000
and for injury to or death of more than one person in any one accident or occurrence to the limit of not less than $3,000,000 and for damage to property in an amount not less than $2,000,000 made by or on behalf of any person or persons, firms or
corporations arising from, relating to or connected with the conduct and operation of Tenant’s business at the Premises or caused by actions or omissions to act, where there is a duty 

  

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to act, of Tenant, its agents, servants and contractors; and (ii) fire insurance, with such extended coverage endorsements as Landlord may reasonably
from time to time require, covering all of Tenant’s fixtures, furniture, furnishings, floor coverings and equipment at the Premises in an amount not less than one hundred percent (100%) of their full replacement cost. Landlord and other
tenants and occupants of the Building shall not be liable for any damage by fire or other casualty covered by Tenant’s insurance, no matter how caused, it being understood that Tenant will look solely to its insurer for reimbursement. All of
said insurance shall be in form satisfactory to Landlord and shall provide that it shall not be subject to cancellation, termination or change except after at least thirty (30) days prior written notice to Landlord. All insurance provided by
Tenant as required under this Section shall be carried in favor of Landlord and Tenant, as their respective interests may appear, and such other parties designated by Landlord, as their interests may appear. All liability policies shall provide that
although the Landlord and those designated by Landlord are named insured, they shall nevertheless be entitled to recover under said policies for any loss or damage to Landlord and those designated by Landlord, their respective agents and employees,
resulting from Tenant’s negligence. The certificates of insurance shall be deposited with Landlord no later than fifteen (15) days before the commencement of the term of the Lease, and upon renewals of such policies, not less than fifteen
(15) days prior to the expiration of the term of such coverage. If Tenant fails to comply with such requirement, Landlord may, but shall not be obligated to, upon ten (10) business days notice, obtain such insurance and keep the same in
effect and Tenant shall pay Landlord the premium costs thereof within thirty days of demand. 
 7.1.8   To pay
within thirty (30) days of demand any increase in premiums that may be charged on insurance carried by Landlord or for which Landlord may be obligated to make reimbursement to other tenants or occupants of the Building under the terms of their
respective leases or occupancy agreements resulting from Tenant’s use or occupancy of the Premises for a use other than a Permitted Use, whether or not Landlord has consented to same. In determining whether increased premiums are the result of
such use or occupancy, a schedule or “make-up” rate of the organization issuing the coverage, or any and all risk insurance rates for said premises, or any rule books issued by the rating organization or similar bodies or by rating
procedures or rules of Landlord’s insurance company shall be conclusive evidence of the items and charges which make up the insurance rates and premiums on the Premises and the Building. 
 7.1.9   Waiver of Recovery.   Anything in this Lease to the contrary notwithstanding, Landlord and Tenant each
hereby waive and release each other of and from any and all rights of recovery (by way of subrogation or otherwise), claim, action or cause of action against each other, their respective parent entities, affiliated entities and their respective
directors, officers, agents, employees and contractors, for any loss or damage to property and any loss of business resulting therefrom that may occur in, on or about the Premises, regardless of cause or origin, including negligence of Landlord or
Tenant. Each party to this Lease agrees immediately to give to each insurance company written notice of the terms of the mutual waivers contained in this paragraph and to have the insurance policies properly endorsed, if necessary, to prevent the
invalidation of the insurance coverage by reason of the mutual waivers contained in this paragraph. 
  

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 7.1.10 Right of Entry.   To permit Landlord or Landlord’s agents to
enter upon the Premises at all reasonable times, upon at least twenty-four (24) hours prior notice, except in case of emergency, to examine same and to make such repairs, alterations, improvements or additions in the Premises or in the Building
as may be necessary without the same constituting an eviction, of Tenant, in whole or in part, and all rents shall in no wise abate while such repairs, alterations, improvements, or additions are being made by reason of loss or interruption of
business of Tenant because of the performance of any such work; provided that same have not been caused by the willful acts or omissions or gross negligence of Landlord, its agents, employees or contractors. Landlord shall use best efforts to
schedule non-emergency repairs, improvements, and alterations at such times so as to minimize interference with Tenant’s business operations at the Premises. Landlord or Landlord’s agents shall also have the right to enter upon the
Premises at reasonable times, upon at least 24 hours prior notice, to show them to prospective mortgagees or purchasers of the Building. During the two hundred seventy (270) days prior to the expiration of the term of this Lease, Landlord may
show the Premises to prospective tenants and Landlord may also place upon the Premises the usual notices “To Let” or “For Rent”, which notices Tenant shall permit to remain thereon without molestation. 
 7.1.11   To pay within thirty (30) days of demand Landlord’s reasonable and necessary out of pocket expenses,
including reasonable attorney’s, architect’s and engineer’s fees, incurred in enforcing any obligation of Tenant under this Lease or incurring any default by Tenant under this Lease. 
 7.1.12   Forthwith to cause to be discharged of record (by payment, bond, order of a court of competent jurisdiction or
otherwise) any mechanic’s lien at any time filed against the Premises or the Building for any work, labor, services or materials claimed to have been performed at, or furnished to, the Premises for or on behalf of Tenant or anyone holding the
premises through or under Tenant. If Tenant shall fail to cause such lien to be discharged within thirty (30) days of demand, then, in addition to any other right or remedy of Landlord, Landlord may, but shall not be obligated to, discharge the
same by paying the amount claimed to be due or by bonding or other proceeding deemed appropriate by Landlord and the amount so paid by Landlord and/or all costs and expense, including reasonable attorney’s fees, incurred by Landlord in
procuring the discharge of such lien shall be deemed to be additional rent. Nothing in this Lease contained shall be construed as a consent on the part of the Landlord to subject Landlord’s estate in the Premises or the Building to any lien or
liability under any laws, orders, rules and regulations of any governmental authority having or claiming jurisdiction over the Premises. The Tenant shall not have any authority to create any liens for labor or material on the Landlord’s
interest in the Premises or the realty of which the Premises form a part and all persons contracting with the Tenant for the destruction or removal of any facilities or other improvements or for the erection, installation, alteration, or repair of
any facilities or other improvements on or about the Premises, and all materialmen, contractors, mechanics, and laborers, are hereby charged with notice that they must look only to the Tenant and to the Tenant’s interests in the Premises to
secure the payment of any bill for work done or material furnished at the request or instruction of Tenant. 
 7.1.13
  Upon the expiration or other termination of the term of the Lease, to quit and surrender to Landlord the Premises, broom clean, in good order and condition, ordinary wear and 

  

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tear and damage by fire and other casualty excepted, and at Tenant’s expense, to remove all personal property of Tenant, and to repair all damages to
the Premises caused by such removal. Any personal property not so removed shall be deemed to have been abandoned by Tenant and may be retained or disposed of by Landlord, as Landlord shall desire, and if Landlord shall decide to dispose of same,
Landlord shall provide at least ten (10) days’ written notice to Tenant and should Tenant not remove same within said ten (10) days, such disposal shall be at the cost and expense of Tenant. 
 7.1.14   To remove all rubbish, dirt and debris from the Premises, at its own cost and expense, subject to the obligation of
Landlord to furnish normal and usual cleaning services as provided in Section 6.4 hereof. 
 7.1.15   To
remain fully obligated under this Lease, notwithstanding any assignment or sublease or any indulgence granted by Landlord to Tenant or to any assignee or sublessee, unless Landlord agrees to release Tenant from all obligations under this Lease.

 SECTION 7.2 - Negative Covenants: 
 Tenant covenants at all times during the term of the Lease and such further time as Tenant occupies the Premises, or any part thereof: 
 7.2.1   Not to injure, overload, deface or otherwise harm the Premises or any equipment or installation therein; nor commit any
waste or nuisance; nor permit the emission of any objectionable noise or odor; nor bum any trash or refuse in or about the Premises; nor make any use of the Premises, or any part thereof or equipment therein, which is improper or contrary to any law
or ordinance or to reasonable rules or regulations of Landlord as such may be promulgated from time to time; nor park or permit its employees, agents, visitors or invitees to park automobiles or other vehicles so as to interfere with the use of
driveways, entrances, exits, walks, roadways, highways, streets, or parking areas. Without limiting the foregoing provisions pertaining to overloading and noise, Tenant further covenants that (a) Tenant shall not place a load upon any floor of
the Premises which exceeds the load per square foot which such floor was designed to carry or which is allowed by law and (b) business machines and mechanical equipment belonging to Tenant which cause noise, vibration or any other nuisance that
may be transmitted to the structure or other portions of the Building or to the Premises to such a degree as to be objectionable to Landlord, or which interfere with the use or enjoyment by other tenants of their premises or the public portions of
the Building, shall be placed and maintained by Tenant, at Tenant’s cost and expense, in settings sufficient to eliminate noise or vibration. Landlord reserves the right to approve the weight and position of all safes which Tenant desires to
bring into the Premises. 
 7.2.2   Not to make any alterations or additions to the Premises or the Building, nor
permit the making of any holes in the walls, ceilings, or floors thereof, installed as part of Tenant’s Work, without on each occasion obtaining prior written consent of the Landlord, which consent shall not be unreasonably withheld, delayed or
conditioned. Tenant shall have the right to use the services of any licensed and reputable contractors, subcontractors, architects, engineers 

  

 23 

 
and other consultants in connection with the performance of any alterations or additions, which it deems necessary and appropriate, at its sole discretion.
Notwithstanding the foregoing, any alterations or improvements of a non-structural nature proposed by Tenant following completion of the Tenant’s Work shall not require Landlord approval if the cost of such alterations or improvements are less
than $25,000.00. 
 7.2.3   (a)     Not to assign, sublease, sell, mortgage, encumber,
pledge or in any manner transfer this Lease or any interest therein or sublet the Premises or any part or parts thereof, or grant any concession or license or otherwise permit occupancy of all or any part thereof by anyone with, through, or under
it, without the prior written consent of the Landlord, which consent shall not be unreasonably withheld, delayed or conditioned. If Tenant’s interest in this Lease shall be assigned in violation of the provisions hereof, such assignment shall
be invalid and of no force and effect against Landlord; provided, however, Landlord may collect an amount equal to the Fixed Minimum Rent from the assignee as a fee for its use and occupancy. If the Premises or any part thereof are sublet to, or
occupied by, or used by, any person other than Tenant, whether or not in violation of this Section, Landlord, after default by Tenant under this Lease, may collect any item of Rent or other sums paid by the subtenant, user or occupant as a fee for
its use and occupancy, and shall apply the net amount collected to the Fixed Minimum Rent and the items of Rent reserved in this Lease. No such assignment, subletting, occupancy, or use, whether with or without Landlord’s prior consent, nor any
such collection or application of Rent or fee for use and occupancy, shall be deemed a waiver by Landlord of any term, covenant or condition of this Lease or the acceptance by Landlord of such assignee, subtenant, occupant or user as Tenant
hereunder, nor shall the same, in any circumstances, relieve Tenant of any of its obligations under this Lease. The consent by Landlord to any assignment, subletting, occupancy or use shall not relieve Tenant from its obligation to obtain the
express prior consent of Landlord to any further assignment, subletting, occupancy or use. Any person to which this Lease is assigned with Landlord’s consent shall be deemed to have assumed all of the obligations arising under this Lease from
and after the date of such assignment and shall execute and deliver to Landlord, within thirty (30) days of demand, an instrument confirming such assumption. Notwithstanding and subsequent to any assignment, Tenant’s primary liability
hereunder shall continue notwithstanding (a) any subsequent amendment hereof, or (b) Landlord’s forbearance in enforcing against Tenant any obligation or liability, without notice to Tenant, to each of which Tenant hereby consents in
advance. If any such amendment operates to increase the obligations of Tenant under this Lease, the liability under this Section of the assigning Tenant shall continue to be no greater than if such amendment had not been made (unless such party
shall have expressly consented in writing to such amendment). 
   (b)     Notwithstanding
anything to the contrary contained in this Lease, Landlord’s consent shall not be required to an assignment of this Lease or a sublet of the Premises by Tenant to any entity that controls, is controlled by, or is under common control with
Tenant, or to any entity which acquires all or substantially all of the assets, stock or business of Tenant, or to any entity with which Tenant shall merge or consolidate, provided in all instances Tenant shall remain liable as to all of the terms,
provisions and conditions of this Lease. As used herein, the term “control” (i) in the case of a corporation shall mean ownership of fifty (50%) percent or more of the outstanding capital stock of that corporation, (ii) in
the case of a general 

  

 24 

 
partnership, shall mean fifty (50%) percent or more of the general partnership interest of the partnership, (iii) in the case of a limited
partnership, shall mean fifty (50%) percent or more of the general and limited partnership interests of such limited partnership, (iv) in the case of a limited liability company, shall mean fifty (50%) percent or more of the
membership interests of such limited liability company, and (v) in the case of a limited liability partnership, shall mean fifty (50%) percent or more of the partnership interest of such limited liability partnership. 
   (c)     In addition to the rights set forth in this Section 7.2.3, Tenant shall have the ongoing
right, without requiring Landlord’s consent, to sublease to any production entity with which Tenant is doing business with on an ongoing basis (a “Preferred Production Entity”), provided (i) all such subleases do not, in the
aggregate, exceed twenty-five percent (25%) of the rentable square footage of the Premises, (ii) the sublease has a lease term shorter in duration than Tenant’s initial term, (iii) the sublease does not provide for separate
entrances for Tenant and subtenant, and (iv) Tenant notifies Landlord at least ten (10) days prior to the effective date of the sublease, provided in all instances in the case of a permitted assignment or subletting, Tenant shall remain
liable as to all of the terms, provisions and conditions of this Lease. Subject to Section 6.6 of this Lease, a Preferred Production Entity may have identification signage outside of the Premises. 
 7.2.4   Not to place, install or maintain any sign, advertisement, notice or any other lettering upon the Building or any part
thereof, or upon or within the interior of the Building or any part thereof, except for such sign and/or lettering placed or installed pursuant to Section 6.6 hereof. 
 7.2.5   Not to place or display any signs, advertising or other things of whatsoever kind, nature or description in the windows of the Premises or within the Premises so that the same
are visible from outside of the Premises without Landlord’s prior approval, which approval shall not be unreasonably withheld or delayed. Tenant shall at its sole cost and expense have the right to replace one or more window panels with
non-glare, non-reflective glass panels, subject to Landlord’s approval, which approval shall not be unreasonably withheld, delayed or conditioned. 
 ARTICLE VIII 
 DESTRUCTION AND CONDEMNATION 
 SECTION 8.1 - Destruction by Fire or Other Cause: 
 8.1.1   If the Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt written notice thereof to Landlord. If the Premises or any part thereof
shall be rendered untenantable (including lack of reasonable means of access thereto) by reason of such damage, then the Fixed Minimum Rent, parking charges and other additional rent hereunder, or an amount thereof apportioned according to the area
of the Premises so rendered untenantable (if less than a material portion of the Premises shall be so rendered untenantable), shall be abated for the period from the date of such damage to the date when the repair of such damage shall have been
substantially completed. 
  

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 8.1.2.   Landlord shall not be liable for any inconvenience or annoyance to
Tenant or injury to the business of Tenant resulting in any way from damage from fire or other casualty or the repair thereof. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s personal property, or on any work
outside of the Tenant’s Work and any subsequent alterations to the Premises, and that Landlord shall not he obligated to repair any damage thereto or replace the same. 
 8.1.3   (a)     Notwithstanding anything to the contrary contained in Sections 8.1.1 and 8.1.2 above, Landlord shall have the right to terminate this Lease if:
(i) the Building shall be damaged so that, in Landlord’s reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (ii) the Premises have been
materially damaged and there is less than two (2) years of the term remaining on the date of the casualty; (iii) a material uninsured loss to the Building occurs; or (iv) Landlord’s lender requires that the insurance proceeds be
applied to the payment of the mortgage debt. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. 
   (b)     In addition to Landlord’s right to terminate as provided herein, Tenant shall have the
right to terminate this Lease if: (i) a substantial portion of the Premises has been damaged by fire or other casualty and such damage cannot reasonably be repaired within 90 days after receipt of the Completion Estimate (defined below);
(ii) there is less than two (2) years of the term remaining on the date of such casualty; and (iii) Tenant provides Landlord with written notice of its intent to terminate within 30 days after the date of the fire or other casualty.

   (c)     If all or any portion of the Premises shall be made untenantable by fire or other
casualty, Landlord shall, with reasonable promptness but in all circumstances within 30 days after the date of the casualty, cause a reputable and licensed contractor selected by Landlord to provide Landlord and Tenant with a written estimate (the
“Completion Estimate”) of the amount of time (the “Restoration Period”) required to substantially complete the repair and restoration of the Premises and make the Premises tenantable again, using standard working methods
(“the Restoration Work”). If the Completion Estimate indicates that the Restoration Work cannot be performed within 180 days from the date of the fire or casualty, then notwithstanding anything to the contrary contained in this section,
either party shall have the right to terminate this Lease by giving written notice to the other of such election within thirty (30) days after receipt of the Completion Estimate, in which event this Lease and the term and estate hereby granted
shall expire as of the 5th day after notice of such election given by either party with the same effect as if that were the Termination Date.

   (d)     If neither Landlord nor Tenant elects to terminate this Lease in accordance with
the provisions of Section 8.1.3, Landlord shall proceed with reasonable diligence to collect all available insurance proceeds and, after receipt of the net proceeds of insurance, to repair or cause to be repaired the damage to the Premises and
the Building at its expense, but in no event shall Landlord be obligated to restore the Premises beyond the scope of the Tenant’s Work and 

  

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any subsequent alterations to the Premises. Landlord shall use its best efforts to perform the Restoration Work within the Restoration Period. In the event
that the Restoration Work is not completed within ninety (90) days following the expiration of the Restoration Period, or in the event that at any time prior to completion of the Restoration Work, it is reasonably foreseeable that the
Restoration Work will not be completed within ninety (90) days following the expiration of the Restoration Period, Tenant shall have the right to terminate this Lease upon providing written notice to Landlord, which notice shall be given no
later than 105 days following the expiration of the Restoration Period. Tenant covenants and agrees to cooperate with Landlord and any mortgagee in their efforts to collect insurance proceeds (including rent insurance proceeds) payable to such
parties. Landlord shall not be liable for any delay which may arise by reason of adjustment of insurance on the part of Landlord and/or Tenant, or any cause beyond the control of Landlord or contractors employed by Landlord. 
 SECTION 8.2 - Eminent Domain: 
 8.2.1   If the whole of the Premises shall be taken by any public or quasi-public authority under the power of condemnation, eminent domain or expropriation, or in the event of a conveyance in lieu thereof,
the term of the Lease shall cease as of the date possession shall be taken by such authority. 
 8.2.2   If a
portion of the Floor Space of the Premises shall be so taken or conveyed such that the remainder of the Premises remains, in Tenant’s reasonable judgment, suitable for its business purposes, the term of the Lease shall cease only with respect
to the part so taken or conveyed as of the date possession shall be taken by such authority. 
 8.2.3   If a
portion of the Floor Space of the Premises shall be so taken or conveyed such that the remainder of the Premises remains, in Tenant’s reasonable judgment, unsuitable for its business purposes, the term of the Lease shall cease only with respect
to the part so taken or conveyed as of the date possession shall be taken by such authority, and either party shall have the right to terminate this Lease upon notice in writing within thirty (30) days after such taking of possession.

 8.2.4   In the event of any such taking or conveyance of the Premises, or any portion thereof, Tenant shall pay
Fixed Minimum Rent and additional rent to the day when possession thereof shall be taken by such authority, with an appropriate refund by Landlord of such rent as may have been paid in advance for a period subsequent to such date. If this Lease
shall continue in effect as to any portion of the Premises not so taken or conveyed, the Fixed Minimum Rent shall be equitably reduced and the other charges shall thereafter be recomputed on the basis of the remaining Floor Space. If this Lease
shall so continue, Landlord shall, at its expense, but only to the extent of an equitable proportion of the award or other compensation for the portion taken or conveyed of the Building in which the Premises are located, make all necessary repairs
or alterations so as to constitute the remaining Premises a complete architectural and tenantable unit. 
  

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 8.2.5   If the parking spaces which are part of the Premises leased to Tenant
herewith shall be so taken or conveyed and shall not be available for use, then (i) Tenant’s obligations to pay for the parking spaces taken shall cease as of the date such spaces are taken and (ii) Landlord shall, at Tenant’s
option, furnish a like number of parking spaces to Tenant at the closest available adjacent parking area to the Building at a rate not to exceed the rate provided for in this Lease. 
 8.2.6   All compensation awarded for any such taking or conveyance, whether for the whole or a part of the Premises or
otherwise, shall be the property of Landlord, and Tenant hereby assigns to the Landlord all of Tenant’s right, title and interest in and to any and all such compensation. Tenant shall have the right to receive compensation that may be
separately awarded for Tenant’s leasehold value, improvements and equipment. 
 ARTICLE IX 
 DEFAULTS AND REMEDIES 
 SECTION
9.1 - Default: 
 9.1.1   If (a) Tenant fails to make any payment of Fixed Minimum Rent, parking
charges or additional rent when due, or fails to make any other payment herein provided for, and, in the case of Tenant’s failure to pay Fixed Minimum Rent or other required fixed monthly charges, such failure continues for ten
(10) business days after receipt of written notice that such payment is due (provided that in the event that Landlord has provided such notice to Tenant at least two (2) times during any calendar year, Landlord shall have the right to
require that Tenant pay future installments of Fixed Minimum Rent on a quarterly basis), or (b) if Tenant fails to promptly and fully perform any other covenant, condition or agreement contained herein and such failure continues for thirty
(30) days after written notice thereof from Landlord to Tenant or if such failure is of the nature that it cannot be cured within thirty (30) days, then, in the event that Tenant fails to commence to cure such default within thirty
(30) days after said written notice and fails to diligently pursue to cure such failure, then, in any one or more of such events, Landlord may serve upon Tenant a written notice (“Notice of Termination”) that this Lease will terminate
on a date to be specified therein, which shall not be less than three (3) days after the giving of such notice, and upon the date so specified, Tenant shall then quit and surrender the Premises to Landlord, but Tenant shall remain liable as
hereinafter set forth. 
 9.1.2   If the Notice of Termination provided for in the above paragraph shall have been
given and this Lease shall be terminated, then, and in such event, Landlord may without notice terminate all services, re-enter the Premises either by force or otherwise and by summary proceedings or otherwise, dispossess Tenant or the legal
representative of Tenant or other occupants of the Premises and remove their effects and hold the Premises as if this Lease had not been made. 
  

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 SECTION 9.2 - Bankruptcy: 
 9.2.1   If there shall be filed against Tenant in any court, pursuant to any statute either of the United States or of any
state, a petition in bankruptcy or insolvency or reorganization or the appointment of a receiver or trustee of all or a portion of Tenant’s property or if Tenant shall voluntarily file any such petition, then, and in the event, the Lease at
Landlord’s discretion and at Landlord’s option shall be deemed canceled and terminated, subject to the right of the trustee, with the court’s approval, to timely assume the unexpired Lease. If Tenant shall make an assignment for the
benefit of creditors or enter into an arrangement, this Lease shall be deemed canceled and terminated, in which event neither Tenant nor any person claiming through or under Tenant shall be entitled to acquire or remain in possession of the Premises
and Landlord shall have no further liability hereunder to Tenant and any such person, if in possession, shall forthwith quit and surrender the Premises. If this Lease shall be so canceled and terminated, Landlord, in addition to the other rights or
remedies of Landlord contained herein, or by virtue of any statute or rule of law, may retain as liquidated damages the Security Deposit or any monies received by Landlord from Tenant or others on behalf of Tenant. In addition, Landlord shall be
entitled to recover from Tenant, as liquidated damages, an amount equal to the difference between (i) the sum of (a) the annual Fixed Minimum Rent, and (b) all additional rents due for the remaining term of the Lease; and
(ii) the rental value of the Premises at the time of termination for such unexpired term. If the Premises, or any part thereof, be relet by Landlord for the unexpired term of said Lease, or any part thereof, before presentation of proof of such
liquidated damages to any court, the amount of rent received upon such reletting shall be deemed prima facie to be the fair and reasonable rental value for the part of the whole of the premises so relet during the term of the reletting. 

SECTION 9.3 - Remedies of Landlord: 
 9.3.1   In case of any such default, and Landlord elects not to terminate this Lease, (i) the Fixed Minimum Rent and additional rent shall become due thereupon and be paid up to the time of such
default; (ii) Landlord may relet the Premises, or any part or parts thereof, for a term which may at Landlord’s option be less than or exceed the period which would have otherwise constituted the balance of the term of this Lease and may
grant concessions or free rent; and (iii) Tenant or the legal representative of Tenant shall also pay Landlord, as liquidated damages for the failure of Tenant to observe and perform Tenant’s covenants herein contained, for each month of
the period constituting the balance of the term of the Lease, any deficiency between (a) the sum of (1) one monthly installment of the Fixed Minimum Rent, and (2) the monthly charge for Operating Expenses and other charges and
(b) the net amount, if any, of the rents and other amounts collected on account of the lease or leases of the Premises for each month of the period which would otherwise have constituted the balance of the term of the Lease. Landlord shall be
obligated to mitigate the damages of Tenant hereunder, provided, however, that the failure of Landlord to relet the Premises or any part thereof shall not release or affect Tenant’s liability for damages. In computing such liquidated damages,
there shall be added to the said deficiency such expenses as Landlord may incur in connection with the reletting, such as court costs, attorney’s fees and disbursements, brokerage commissions, and for putting and keeping the Premises in good
order or for preparing same for reletting, together with interest on the expenses 

  

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so incurred at the then maximum lawful rate from the date of such expenditure to the date of repayment thereof to Landlord. Any such liquidated damages shall
be paid in monthly installments by Tenant on the rent date specified in this Lease and any suit brought to collect the amount of deficiency for any month shall not prejudice in any way the rights of Landlord to collect the deficiency for any
subsequent month by a similar proceeding. Landlord, at Landlord’s option, may make such alterations, repairs, replacements and/or decorations of the Premises as Landlord, in Landlord’s sole judgment; considers advisable and necessary for
the purpose of reletting the Premises and the making of such alterations and/or declaration shall not operate or be construed to release Tenant from liability hereunder. 
 9.3.2   In the case of such default and the Lease is terminated, Landlord may recover from Tenant, or the legal representative of Tenant, as liquidated damages (i) the worth at the
time of termination of any unpaid Fixed Minimum Rent, additional rent, and other charges earned at the time of such termination; plus (ii) the worth at the time of the termination of the amount of the unpaid Fixed Minimum Rent, additional rent
and other charges which Tenant would have paid for the remaining term of the Lease, plus (iii) such expenses on other amounts to compensate Landlord for all the detriment proximately caused by Tenant’s failure to fulfill any of the
covenants of this Lease or which in the ordinary course of things would be likely to result therefrom, including without limitation, any costs or expenses incurred by Landlord in (1) maintaining or preserving the Premises after such default,
(2) recovering possession of the Premises, including attorneys fees therefor, (3) expenses of reletting the Premises including necessary renovations or alterations of the Premises including necessary renovations or alterations of the
Premises, attorneys fees and leasing commissions incurred, plus (4) such other amounts in addition to or in lieu of the foregoing as may be permitted by law. 
 As used in section (i) above, the “worth at the time of termination” is computed by allowing interest on unpaid amounts at the maximum rate allowed by law. As used in section
(ii) above the “worth at the time of termination” is computed by discounting such amount at the discount rate of the nearest Federal Reserve Bank in effect at the time of the award plus one percent (1%). 
 9.3.3   In the event of a breach or threatened breach by Tenant of any of the covenants or provisions hereof, Landlord shall
have the right of injunction and the right to invoke any remedy allowed at law or in equity as if re-entry, summary proceedings and other remedies were not herein provided for. Mention in this Lease of any particular remedy shall not preclude
Landlord from any other remedy in law or in equity. 
 SECTION 9.4 - Waiver of Jury Trial; Tenant Not to Counterclaim:

 It is mutually agreed by and between Landlord and Tenant that the respective parties hereto shall, and they hereby do,
waive trial by jury in any action, proceeding or counterclaim brought by either of the parties hereto against the other on any matter arising out of or in any way connected with this Lease. 
  

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 SECTION 9.5 - Holdover by Tenant: 
 In the event Tenant remains in possession of the Premises after the expiration or termination of the tenancy created hereunder, and
without the execution of a new lease, Tenant shall become a tenant at sufferance only, subject to the provisions of this Lease, except that the monthly rental during such holding over shall equal one hundred twenty five percent (125%) of the
monthly payment of Fixed Minimum Rent in effect immediately prior to such expiration or termination for the initial two (2) months of such holding over and one hundred fifty percent (150%) of the monthly payment of Fixed Minimum Rent in
effect immediately prior to such expiration or termination for the period of such holding over following the initial two (2) months of such holding over. 
 SECTION 9.6 - Landlord’s Right to Cure Defaults: 
 Landlord may, but
shall not be obligated to, cure, at any time, upon five (5) business days prior written notice to Tenant (except that notice shall not be required in the event of emergencies), any default by Tenant under this Lease and whenever Landlord so
elects, all costs and expenses incurred by Landlord in curing such default, including, without limitation, reasonable attorneys’ fees, together with interest on the amount of costs and expenses so incurred at the rate of twelve percent (12%),
shall be paid by Tenant to Landlord within thirty (30) days of demand and shall be recoverable as additional rent. 
 SECTION 9.7
- Effect of Waivers of Default: 
 No consent or waiver, express or implied, by Landlord to or of any breach of any
covenant, condition or duty of Tenant shall be construed as a consent or waiver to or of any other breach of the same or any other covenant, condition or duty unless in writing signed by the Landlord. 
 SECTION 9.8 - Security Deposit: None. 
 SECTION 9.9 - Landlord’s Default: 
 If Landlord fails to perform any covenant, condition, or
agreement contained in this Lease within thirty (30) days after receipt of written notice from Tenant specifying such failure (or if such failure cannot reasonably be cured within thirty (30) days, if Landlord does not commence to cure the
failure within that thirty (30) day period and to diligently proceed to complete such cure as promptly as possible), then such failure shall constitute a default hereunder and Landlord shall be liable to Tenant for any costs, expenses or
damages resulting therefrom (and Tenant’s reasonable and necessary out of pocket expenses, including reasonable attorney fees, architect’s and engineering fees, incurred in enforcing any obligation of Landlord under this Lease or incurred
through any default by Landlord under this Lease) sustained by Tenant as a result of Landlord’s default; provided, however, it is expressly understood and agreed that if Tenant obtains a money judgment against Landlord resulting from any
default or other claim arising under this Lease, that judgment shall be satisfied only out of the rents, issues, 

  

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profits, and other income actually received on account of Landlord’s right, title and interest in the Building, and no other real, personal or mixed
property of Landlord (or of any of the partners which comprise Landlord, or of partners or principals of such partners comprising Landlord, if any, or of Landlord’s officers, shareholders or directors, if any) wherever situated, shall be
subject to levy, attachment or execution, or otherwise used to satisfy any such judgment. Notwithstanding the foregoing, if (a) Tenant has obtained a judgment for damages against Landlord as a result of an uncured default by Landlord under this
Lease after expiration of all notice and cure periods; and (b) despite Tenant’s best efforts to levy such judgment against Landlord’s interest in the Building, such judgment has nonetheless not been satisfied within ninety
(90) days after the date that the judgment was obtained, then Tenant will have the right to deduct the unpaid amount of such judgment against the Fixed Minimum Rent, parking and additional charges otherwise payable hereunder. 
 ARTICLE X 
 MISCELLANEOUS
PROVISIONS  
 SECTION 10.1 - Notices: 
 Any notice or demand from Landlord to Tenant or from Tenant to Landlord shall be in writing and shall be deemed duly delivered if mailed by registered or certified mail, return receipt requested,
or delivered overnight by a nationally recognized overnight express courier addressed, if to Tenant, at the address of Tenant or such other address as Tenant shall have last designated by notice in writing to Landlord, and, if to Landlord, at the
address of Landlord or such other address as Landlord shall have last designated by written notice to Tenant. Initial addresses for notices are as follows: 
  

			
	 LANDLORD:
	  	 K&M Enterprises
 Attn: Walter G. Knestrick
 2617 Grandview Avenue
 Nashville, Tennessee 37211
 Telephone: (615) 259-3755
 Facsimile: (615) 256-7578

		
	 With a copy to:
	  	 Douglas McDowell
 Steve Massey
 602 Green Park
 Nashville, Tennessee 37215
 Telephone: (615) 248-1122
 Facsimile: (615) 255-4610

  

 32 

			
		
	 With a copy to:
	  	 Fred Russell Harwell, Esq.

		  	 Stokes, Bartholomew, Evans & Petree, P.A.

		  	 424 Church Street, Suite 2800

		  	 Nashville, Tennessee 37219

		  	 Phone: (615) 259-1457

		  	 Fax: (615) 259-1470

		  	 E-Mail: rharwell@stokesbartholomew.com

		
	 TENANT (Prior to Occupancy):
	  	 Country Music Television, Inc.

		  	 2806 Opryland Drive

		  	 Nashville, Tennessee 37214

		  	 Attention: General Manager

		
	 TENANT (After Occupancy):
	  	 Country Music Television, Inc.

		  	 330 Commerce Street

		  	 Nashville, Tennessee 37201

		  	 Attention: General Manager

		
	 With a copy to:
	  	 Viacom Inc.

		  	 1515 Broadway

		  	 New York, New York 10036

		  	 Attention: General Counsel

 SECTION 10.2 - Estoppel Certificates: 
 Tenant agrees that it will, at any time and from time to time, within ten (10) days following written notice by Landlord, execute,
acknowledge and deliver to Landlord a statement in writing certifying that this Lease is unmodified and in full force and effect (or if there have been any modifications, that the same is in full force and effect as modified, stating the
modifications) and the dates to which Fixed Minimum Rent and other payments due hereunder from Tenant have been paid in advance, if any, and stating whether or not to the best knowledge of the Tenant the Landlord is in default in the performance of
any covenant, agreement or condition contained in this Lease and, if so, specifying each such default. The failure of Tenant to execute, acknowledge and deliver to Landlord a statement in accordance with the provisions of this Section shall
constitute an acknowledgment by Tenant, which may be relied upon by any person holding or proposing to acquire an interest in the Building or the Premises or this Lease from or through Landlord that this Lease is unmodified and in full force and
effect and that the Fixed Minimum Rent and other charges have been paid to and including the respective due dates immediately preceding the date of such notice and shall constitute, as to any person entitled as aforesaid to rely upon such
statements, a waiver of any defaults, which may exist prior to the date of such notice. Landlord agrees to deliver a similar statement to Tenant within ten (10) days of Tenant’s written request therefore. 
  

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 SECTION 10.3 - Applicable Law and Construction: 
 The laws of the State of Tennessee shall govern the validity, performance and enforcement of this Lease. The invalidity or
unenforceability of any provision of this Lease shall not affect or impair any other provision. All negotiations, considerations, representations and understandings between the parties are incorporated in this Lease. The headings of the several
articles’ and sections contained herein are for convenience only and do not define, limit or construe the contents of such articles or sections. 
 SECTION 10.4 - Binding Effect of Lease: 
 The covenants, agreements and obligations herein contained,
except as herein otherwise specifically provided, shall extend to, bind and inure to the benefit of the parties hereto and their respective personal representatives, successors and permitted assigns. Each covenant, agreement, obligation or other
provision, herein contained shall be deemed and construed as a separate and independent covenant of the party bound by, undertaking or making the same, not dependent on any other provision of this Lease unless otherwise expressly provided. If any
term, covenant, agreement or provision of this Lease shall be held by any court of competent jurisdiction to be against public policy and/or null and void, such term, covenant, agreement or provision shall be deemed not to have been included in this
Lease and shall not affect the validity of the remaining terms, covenants, agreements or provisions of this Lease. 
 SECTION 10.5 - Effect of
Unavoidable Delays: 
 Subject to Section 10.16, the provisions of this Section shall be applicable if there shall
occur, during the term of the Lease, or prior to the commencement thereof, any (i) strike, lockout or labor dispute; (ii) inability to obtain labor or materials or reasonable. substitutes therefor; or (iii) acts of God, governmental
restrictions, regulations or controls, enemy or hostile governmental action, civil commotion, fire or other casualty or other conditions similar or dissimilar to those enumerated in this item (iii) any other circumstances beyond the reasonable
control of the party obligated to perform. If Landlord or Tenant shall, as a result of any of the above described events, fail punctually to perform any obligation on its part to be performed under this Lease, then such failure shall be excused and
not be a breach of this Lease by the party in question, but only to the extent occasioned by such event. If any right or option of any party to take any action under or with respect to this Lease is conditioned upon the same being exercised within
any prescribed period of time or at or before a named date, then such prescribed period of time and such named date shall be deemed to be extended or delayed, as the case may be, for a period equal to the period of the delay occasioned by any above
described event. Notwithstanding anything herein contained, however, the provisions of this Section shall not be applicable to Tenant’s obligation to pay the Fixed Minimum Rent or additional rent under the provisions of Article IV or its
obligation to pay any other sums, monies, costs, charges or expenses required to be paid by Tenant hereunder. 
  

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 SECTION 10.6 - Subordination: 
 10.6.1   This Lease is subject and subordinate to all ground leases and/or underlying leases now or hereafter covering the real property of which the Premises form a part and to all
mortgages which may now or hereafter be placed on or affect such leases and/or such real property, or any part or parts thereof, and/or Landlord’s interest therein and to all renewals, modifications, amendments, consolidations, replacements or
extensions thereof. This clause shall be self-operative and no further instrument of subordination shall be required by any mortgagee. In confirmation of such subordination, Tenant shall execute promptly any certificate that Landlord may request.

 10.6.2   Provided that any mortgagee agrees not to disturb Tenant’s use and occupancy hereunder, Tenant
agrees that neither the foreclosure of a mortgage affecting the Premises nor the institution of any suit, action, summary or other proceeding against the Landlord herein or any successor Landlord or any foreclosure proceeding brought by the holder
of any such mortgage to recover possession of such property shall, by operation of law or otherwise, result in a cancellation or termination of this Lease or the obligations of Tenant hereunder, and upon the request of any such Landlord, successor
Landlord or the holder of such mortgage, Tenant covenants and agrees to execute an instrument in writing reasonably satisfactory to such Landlord, successor Landlord or to the holder of such mortgage or to the purchaser of the mortgaged premises in
foreclosure whereby Tenant attorns to such successor in interest. 
 10.6.3 Landlord represents that, as of the date hereof,
the only mortgagee, trustee under a deed of trust, or ground lessor having an interest in the Building is AmSouth Bank. In connection with the above referenced, the parties acknowledge that AmSouth Bank, Landlord and Tenant shall, concurrent with
the full execution and delivery of this Lease, execute and deliver to the other party a subordination, attornment and nondisturbance agreement in the form attached hereto as Exhibit “G”. 
 10.6.4 If, in connection with obtaining financing for the Building, a banking, insurance or other recognized institutional lender shall
request reasonable modifications in this Lease as a condition to such financing, Tenant will not unreasonably withhold, delay or defer its consent thereto, provided that such modifications do not increase the obligations or diminish the rights of
Tenant hereunder or adversely affect the leasehold interest hereby created or Tenant’s use and enjoyment of the Premises. 
 SECTION 10.7 - No
Waiver: 
 The failure of either party to seek redress for violation of, or to insist upon the strict performance of, any
covenant or condition of this Lease or any of the Rules and Regulations now or hereafter adopted or promulgated by Landlord shall not prevent a subsequent act, which would have originally constituted a violation, from having all the force and effect
of an original violation. The receipt by Landlord of Fixed Minimum Rent or additional rent or any other charges payable under this Lease with knowledge of the breach of any covenant of this Lease by Tenant shall not be deemed a waiver of such
breach. No provision of this Lease shall be deemed 

  

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to have been waived by either party unless such waiver be in writing and signed by such party. No payment by Tenant or receipt by Landlord of a lesser amount
than the monthly payments required to be made hereunder shall be deemed to be other than on account of the earliest stipulated Fixed Minimum Rent or additional rent or other charges payable hereunder nor shall any endorsement or statement on any
check or any letter accompanying any check or payment be deemed an accord and satisfaction, and Landlord may accept such check or payment without prejudice to Landlord’s right to recover the balance of such rent or pursue any other remedy in
this Lease provided. 
 SECTION 10.8 - No Oral Changes: 
 This Lease may not be changed or terminated orally but only by an agreement in writing signed by the parties hereto. 
 SECTION 10.9 - No Representations by Landlord: 
 Landlord or Landlord’s
agents have made no representations, warranties or promises with respect to the Premises or the Building except as herein expressly set forth. 
 SECTION
10.10 - Changes in Entrances and Other Public Areas: 
 Provided that Landlord shall use best efforts to minimize
any disruption to Tenant in Tenant’s use of the Premises or impede its access to the Building, Landlord shall have the right at any time and from time to time, without thereby creating an actual or constructive eviction or incurring any
liability to Tenant therefor, to change the arrangement or location of such of the following as are not contained within the Premises or any part thereof: entrances, passageways, doors and doorways, corridors, stairs, toilets and other public
service portions of the Building. Landlord shall also have the right at any time and from time to time to change the entrances, exits, parking areas, driveways, walks, exterior lighting, landscaping and other common areas of the Building without
creating an actual or constructive eviction or incurring any liability to Tenant therefor. Landlord shall provide Tenant with at least thirty (30) days prior written notice of any planned changes. Notwithstanding the foregoing, Tenant shall
have the right to renovate the lobby area and the entry canopy of the Building at its sole cost and expense, but only upon the advance written approval of Landlord as to Tenant’s plans therefor. 
 SECTION 10.11 - Risk of Loss or Damage to Personal Property, Etc.: 
 Supplementing the provisions of Section 7.1.9 hereof and without limiting the generality of said Section 7.1.9, it is agreed that all personal property at any time placed or kept within
the Premises shall be placed or kept therein at the risk of the Tenant or other owner thereof; that Landlord shall not be liable for any theft or loss of any personal property placed or kept within the Premises unless caused by the willful
misconduct or gross negligence of Landlord, its agents, employees or contractors; and that Landlord shall not be liable to Tenant or to any other person whomsoever for any damage to any personal property at any time placed or kept within the 

  

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Premises arising from the bursting or leaking of water pipes or from any negligence of any tenant or occupant of space within the Building. 
 SECTION 10.12 - Rules and Regulations: 
 Tenant, its employees, agents, visitors and invitees shall comply with all reasonable rules and regulations Landlord may adopt from time to time for operation of the Building and the Parcel and the protection and
welfare of the Building, its tenants, visitors and occupants. Any rules and regulations shall become a part of this Lease and Tenant hereby agrees to comply with the same upon reasonable advance written notice thereof and delivery of a copy thereof
to Tenant, providing the same do not deprive Tenant of its rights established under this Lease. 
 SECTION 10.13 - Telecommunications:

 Tenant and/or its telecommunications and/or utility companies (including but not limited to local exchange
telecommunications companies and alternative access vendor services companies, and local and alternative utility vendor services companies), shall have a right of access to and within the Building (including sufficiently sized conduit pathway to the
Building) for the installation (at Tenant’s expense) and operation of its telecommunications and utility systems, including but not limited to voice, video, data and any other telecommunications services provided over wire, fiber optic,
microwave, wireless and any other transmission and/or utility system available in the Building, for part or all of Tenant’s telecommunications and/or utilities from, to and within the Building. 
 SECTION 10.14 - Roof Installations; Roof Rights: 
 Tenant shall have the exclusive right at no charge to install or cause to be installed satellite communications, microwave, DSS or other dishes or antennas (the “Roof Equipment”) on the roof of the Building
and/or cable connecting the Building to the dish or local utility. There shall be no additional charge payable by Tenant to Landlord for the use of such roof area or for the installation of the Roof Equipment, other than payment by Tenant of all of
the electricity or other utilities used or consumed on the roof. Tenant’s vendor or its affiliates as the designee of Tenant, shall be granted the right to install said items and Tenant and its designee shall be solely responsible, at its cost
and expense, for the maintenance and repair of the Roof Equipment and Landlord shall have no expense or responsibility for the maintenance and repair thereof unless the same was made necessary by the negligence or willful acts or omissions of
Landlord or its agents. Tenant shall be responsible at its cost and expense for compliance with any and all laws, and any other governmental rules, regulations (including life safety measures), approvals, permits or licenses in connection with
erecting or maintaining the Roof Equipment. All of said roof installations shall be made, and rights to the roof as described in this Section shall be exercised, so that they will (i) not materially interfere with any existing building systems
at the Building, (ii) comply with all required or necessary safety measures such as installation of safety rails or fencing, and (iii) complete all improvements to the roof necessary or required for the safe use thereof, such as protective
roof padding. Tenant shall notify Landlord in advance of any roof penetration or removal work so as to allow Landlord, at its option, to have a 

  

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representative available while such work is to be performed. Tenant represents and warrants that Tenant requires the Roof Equipment for the purpose of
receiving and sending information used by Tenant and/or its clients and Tenant shall not be paid rental by any third party for said party’s use of the Roof Equipment. Tenant shall have the right to penetrate the roof for the installation and
maintenance of any conduits, cable and other equipment installations necessary for its communications, data processing, supplementary HVAC, emergency power, and any other reasonable requirements of Tenant’s business. Additionally, Tenant shall
have the option at its expense to remove up to 2,000 square feet of the roof of the Building in connection with Tenant’s business operations. With respect both to penetration of the roof and removal of the roof, Tenant shall pay within thirty
(30) days of Landlord’s demand the reasonable out-of-pocket costs incurred by Landlord to repair any damage to the roof or other areas of the Building caused by such penetration or removal. Tenant shall also have the right to access the
roof for television production and related uses, so long as Tenant has complied with all applicable laws and regulations for such use. Tenant shall indemnify and hold harmless Landlord from any damage to persons or property as a result of such roof
use. Tenant shall be responsible to perform any and all of its work on the roof in compliance with Landlord’s roof warranty, provided that a copy of such warranty has been delivered to Tenant. At the expiration of the Lease, Tenant shall
restore the roof to substantially the same condition that existed prior to the Tenant’s penetration of or removal of the roof, ordinary wear and tear and damage by fire or other casualty excepted. 
 SECTION 10.15 - Right of First Refusal; Right to Expand: 
 10.15.1 So long as Tenant is not in default of the Lease beyond any applicable notice and cure period, Tenant shall have a right of first refusal on any available space in the Building, subject to the terms and
limitations herein. Landlord will notify Tenant that said space is being offered to a third party and which Landlord intends to accept, and Tenant shall have ten (10) business days to lease the additional space or such right shall terminate.
Tenant shall sign a notice of the exercise of the intention to lease the additional space, or a notice of waiver of such right within said ten (10) business days. The rental rate and other terms shall be the same as this Lease, except for the
square footage and term. The lease of such additional space, and the payment of Fixed Minimum Rent and compliance with all other terms and conditions, shall be effective on the commencement date contained in the offer to such third party without the
execution of any amendment or other instrument. The parties shall enter into a mutually agreed upon amendment to confirm Tenant’s leasing of additional space hereunder, but the failure to execute such amendment shall not affect Tenant’s
rights and obligations to lease the additional space form Landlord hereunder. 
 10.15.2 No later than ten (10) days
after request from Tenant, Landlord shall provide Tenant with a written notice identifying any unleased vacant space in the Building. Tenant shall have a one-time right (the “Expansion Right”) as of the date of the expiration of the third
year of the Lease to expand the size of the Premises into any unleased vacant space in the Building (hereinafter, the “Expansion Area”) provided that (i) if such unleased vacant space contains 10,000 square feet or less, Tenant shall
lease the entire space; and (ii) if such unleased vacant space is in excess of 10,000 square feet, Tenant shall lease no less than 10,000 square feet, provided the remaining unleased vacant space is reasonably marketable, provided further,

  

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Tenant is not then in default as to any of the terms and conditions of this Lease beyond any notice and cure period. The Fixed Minimum Rental rate and
expiration date of this Lease shall apply to the Expansion Area. All costs associated with improving such Expansion Area shall be paid for solely by Tenant, and Tenant shall accept such space on an “as-is” basis. Notwithstanding the
foregoing, Landlord, at its sole cost, shall be responsible for demising the Expansion Area at the Building, including providing standard HVAC and electrical systems, promptly following Tenant’s exercise of the Expansion Right. Tenant shall
furnish written notice to Landlord of its intent to expand the size of the Premises no earlier than April 2005 and no later than July 1, 2005, or such right shall terminate and be of no further force or effect. Tenant shall be bound to lease
the Expansion Area immediately upon its exercise of the Expansion Right, but the lease of the Expansion Area, the payment of Fixed Minimum Rent and compliance with all other terms and conditions of the Lease shall be effective as of October 1,
2005 without the execution of any amendment or other instrument. Tenant shall be afforded access to the Expansion Area promptly following its exercise of the Expansion Right in order to perform work to the Expansion Area. The parties shall enter
into a mutually agreed upon amendment to confirm Tenant’s leasing of the Expansion Area, but the failure to execute such amendment shall not affect Tenant’s rights and obligations to lease the Expansion Area from Landlord hereunder.

 SECTION 10.16 - Interruption of Service: 
 Notwithstanding any provision in the Lease to the contrary, in the event the Premises shall become Untenantable (as herein defined) as a result of the interruption or curtailment of water, sewer, heat, air
conditioning, electricity, elevator service, or access to the Building, Fixed Minimum Rent, parking charges and additional rent shall abate until such service has been restored and the Premises are no longer Untenantable. Landlord shall use its best
efforts to restore the services as promptly as possible. Should Landlord fail to take reasonable steps to restore such services within three (3) business days of Landlord’s receipt of written notice from Tenant describing such interrupted
or curtailed services, Tenant shall be entitled to take action and to contract for such work as it considers reasonable to restore such services, and Landlord shall reimburse Tenant within thirty (30) days of demand all reasonable costs and
expenses incurred by or on behalf of Tenant in connection therewith. 
 For purposes of this Section,
“Untenantable” shall mean that the Premises cannot be used by Tenant for the purposes in which the Lease was intended for a minimum of three (3) business days as a result of an interruption or curtailment of water, sewer, heat, air
conditioning, electricity, elevator service or any other services required to be furnished by Landlord hereunder or of normal access to the Building. 
 SECTION 10.17 - Covenant of Confidentiality: 
 All terms, provisions, conditions, negotiations,
correspondences, space plans, and other information of or pertaining to this Lease are to be kept strictly confidential, and Landlord and Tenant hereby covenants that its agents and assigns shall not disclose the terms, provisions or conditions of
this Lease to any other party without having first obtained the written consent of the other party. 
  

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 SECTION 10.18 - Binding Effect; Time of Essence: 
 All terms and covenants of this Lease shall be applicable to and binding upon the heirs, executors, administrators, successors and
permitted assigns of the parties. Time is of the essence of this Lease. 
 SECTION 10.19 - Retail Lease: 
 Landlord and Tenant shall enter into a sublease agreement (the “Retail Lease”), in the form attached hereto as Exhibit
“H”, whereby Landlord shall sublease to Tenant certain retail space adjacent to the Building consisting of approximately 2,195 square feet, currently leased by Landlord from Commerce Street Venture through July 1, 2002, with
options to extend for two (2) additional five (5) year renewal terms. Following the execution of this Lease, Landlord agrees to request consent to the Retail Lease from Commerce Street Venture and to exercise the first five (5) year
renewal term under its lease. The terms of the Retail Lease shall govern Tenant’s use and occupancy of the retail space. 
 SECTION 10.20 -
Attorneys’ Fees: 
 In the event either party defaults in the performance or observation of any of the terms,
conditions, covenants or obligations contained in this Lease and the other party employs attorneys to enforce its rights hereunder, the defaulting party agrees to reimburse the other for all reasonable attorneys’ fees incurred thereby, whether
or not suit is actually filed. 
 SECTION 10.21 - Generator: 
 Throughout the term and any Renewal Term of this Lease, Tenant shall have the right at its sole cost and expense to install an emergency generator on a portion of the Parking Area. Tenant shall
have the right to use the existing concrete pad in the Parking Area for this purpose. No additional rent shall be due to such installation; however, Tenant shall pay the cost of any parking spaces in the Parking Area occupied by the generator.
Tenant shall furnish advance written notice to Landlord and shall obtain Landlord’s advance approval as to the location of such generator, which approval shall not be unreasonably withheld, delayed or conditioned. 
 SECTION 10.22 - Brokers: 
 Landlord and Tenant each warrants and represents to the other that it has had no dealings with real estate broker or agent in connection with the negotiation of this Lease, other than CB Richard Ellis, Inc., and that it knows of no other
real estate broker or agent who is or might be entitled to a commission in connection with this Lease. Each party shall indemnify and hold harmless the other from and against any and all liabilities or expenses, including reasonable attorneys’
fees, arising out of claims made by any other broker or individual through such party, for commissions or fees resulting from the execution of this Lease. Landlord shall be 

  

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responsible to pay any commissions due under this Lease. 
 SECTION 10.23 - Environmental Warranties and Representations: 
 Landlord represents and warrants that
to the best of Landlord’s knowledge upon reasonable investigation as of the Commencement Date of this Lease that (i) neither Landlord, nor any present or previous tenant of the Premises, nor any other third party, has released, used,
generated, manufactured, stored or disposed of, on, or under the Premises any hazardous substance, material, chemical or waste in violation of applicable Environmental Regulations; (ii) neither Landlord, nor any present or previous tenant of
the Property, nor any other third party, has transported to or from the Premises any flammable explosives, “hazardous waste”, or any other “hazardous substance”, as those terms are defined in applicable Environmental Regulations
in violation of applicable Environmental Regulations; (iii) there have been no orders, notices of violation, complaints or other similar communications of alleged or potential violations or failures to comply with applicable Environmental
Regulations issued by a governmental agency regarding any acts or omissions upon or affecting the Premises before the date of this Lease; (iv) except as disclosed by Landlord to Tenant and acknowledged by Tenant, Landlord is not aware of the
presence on the Premises of any asbestos, polychlorinated biphenyls (PCBs), or other known hazardous substances, material, chemicals or waste (as those terms are defined under applicable Environmental Regulations), wells or underground storage tanks
in violation of applicable Environmental Regulations; and (v) Landlord is in compliance with all applicable Environmental Regulations. 
 Landlord shall indemnify, hold harmless and defend Tenant from and against any and all liability, loss, damage or expense (including reasonable attorney’s fees, court costs and cleanup costs, if any) incurred by
Tenant in connection with any claim, demand or suit for damages, injunction or other relief to the extent caused by, arising out of or resulting from (i) any breach of Landlord’s representations and warranties contained in this
Section 10.23, or (ii) the generation, storage, use, handling, discharge, release or disposal of hazardous substances, chemicals, materials or waste, as those terms are defined under applicable Environmental Regulations, at the Premises,
which occurred before the Commencement Date of this Lease, or during the term of this Lease, but only if caused by the acts or omissions of Landlord, or its agents, representatives, or contractors. 
 Tenant covenants that during the term of this Lease it, and its employees, contractors, guests and invitees will not release, use,
generate, manufacture, store or dispose of, on, or under the Premises any hazardous substance, material, chemical or waste in violation of applicable Environmental Regulations. Notwithstanding the foregoing, Tenant may handle, store, use or dispose
of products, materials, substances and wastes containing hazardous materials (such as aerosol cans containing insecticides, inks, toner for copiers, paints, paint remover, cleaning solutions and the like) to the extent customary and necessary for
the use of the Premises for general office purposes; provided that Tenant shall always handle, store, use, and dispose of any such items in a safe and lawful manner. Tenant shall indemnify, hold harmless and defend Landlord from and against any and
all liability, loss, damage or expense (including reasonable attorney’s fees, court costs and cleanup costs, if any) incurred by Landlord in connection with any claim, demand or suit for damages, injunction or other relief to the extent caused
by, arising out of or resulting from the breach of Tenant’s covenants contained in this Section 10.23. 
  

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 For the purposes of this clause, the term “Environmental Regulations” shall
mean any law, statute, regulation, order or rule now or hereafter promulgated by any Governmental Authority, whether local, state or federal, relating to air pollution, water pollution, noise control and/or transporting, storing, handling,
discharge, disposal or recovery of on-site or off-site hazardous substances or materials, as same may be amended form time to time, including without limitation the following: (i) the Clean Air Act (42 U.S.C. § 7401 et seq.);
(ii) Marine Protection, Research and Sanctuaries Act (33 U.S.C. § 1401-1445); (iii) the Clean Water Act (33 U.S.C. § 1251 et seq.); (iv) Resource Conservation and Recovery Act, as amended by the Hazardous Waste and
Solid Waste Amendments of 1984 (42 U.S.C. § 6901 et seq.); (iv) Comprehensive Environmental Response Compensation and Liability Act, as’ amended by the Superfund Amendments and Reauthorization Act of 1986 (42 U.S.C. § 6901
et seq.); (v) Comprehensive Environmental Response Compensation and Liability Act, as amended by the Superfund Amendments and Reauthorization Act of 1986 (42 U.S.C. § 9601 et seq.); (vi) Toxic Substances Control Act
(15 U.S.C. § 2601 et seq.); (vii) the Federal Insecticide, Fungicide and Rodenticide Act as amended (7 U.S.C. § 135 et seq.); (viii) the Safe Drinking Water Act (42 U.S.C. § 300 (f) et seq.);
(ix) Occupational Health and Safety Act (29 U.S.C. § 651 et seq.); (x) the Hazardous Liquid Pipeline Safety Act (49 U.S.C. § 2001 et seq.); (xi) the Hazardous Materials Transportation Act (49 U.S.C. §
1801 et seq.); (xii) the Noise Control Act of 1972 (42 U.S.C. § 4901 et seq.); (xiii) Emergency Planning and Community Right to Know Act (42 U.S.C. §§ 11001-11050); and (xiv) the National
Environmental Policy Act (42 U.S.C. § 4321-4347). 
 The terms of this Section 10.23 shall survive the
expiration or sooner termination of this Lease. 
 SECTION 10.24 - Additional Parking: 
 In addition to the CMT Parking leased by Tenant from Landlord as described in Section 2.1(b), Landlord shall use its best efforts to
assist Tenant to obtain up to an additional one hundred fifty (150) parking spaces in the Commerce Street Garage for Tenant’s use during the initial term, first Renewal Term and the second Renewal Term. Tenant shall make payment to the
parking garage operator the parking charge for the number of parking spaces it uses each month for such additional parking spaces used. 
 SECTION
10.25 - Right to Deduct and Offset: 
 In the event Landlord fails to make any payment, including but not limited
to the brokerage commission, or fails to reimburse Tenant for costs incurred by Tenant in connection with restoring services or as a result of Landlord’s failure to perform any of its obligations hereunder (following the expiration of any
applicable cure periods granted to Landlord herein), Tenant may deduct the amount of such payment or costs from the next payments of Fixed Minimum Rent, parking charges or additional rent, and make such payment or reimburse itself for such costs, as
the case may be, on behalf of Landlord. 
  

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 SECTION 10.26 - Compliance with Law: 
 Landlord warrants that any alterations and improvements (other than those constructed by Tenant or at Tenant’s direction) which have
been constructed or installed by Landlord or at Landlord’s direction on or in the Premises or the Building did comply with all applicable covenants or restrictions of record and applicable building codes, regulations and ordinances in effect as
of the date of the completion of such construction. Landlord further warrants to Tenant that Landlord has no knowledge of any claim having been made by any governmental agency that a violation or violations of applicable building codes, regulations
and ordinances exist with regard to the Premises or the Building as of the Commencement Date. If the Premises or the Building do not comply with any present or future covenants or restrictions of record, applicable building codes, regulations or
ordinances, Landlord shall promptly after receipt of written notice from Tenant setting forth with specificity the nature and extent of such non-compliance, take such action, at Landlord’s expense, as may be reasonable or appropriate to rectify
the non-compliance. 
 SECTION 10.27 - Landlord’s Insurance: 
 Landlord shall obtain and keep in force during the term of the Lease, as it may be renewed, an “all-risk” property coverage insurance for the full replacement cost of the Building,
including the Premises. In addition, Landlord shall maintain Commercial Liability insurance against claims of bodily injury, personal injury and property damage arising out of Landlord’s operation of the Building in an amount consistent with
the amounts maintained by landlords of comparable buildings in downtown Nashville. 
 [SIGNATURE PAGES ATTACHED HERETO] 
  

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 IN WITNESS WHEREOF, Landlord and Tenant have hereunto executed this Lease as of the day
first set forth above. 
  

			
	LANDLORD:
	
	K & M ENTERPRISES
		
	By:	 	/s/ Walter G. Knestrick
		 	     Walter G. Knestrick
		 	     Managing General Partner

  

			
	TENANT:
	
	COUNTRY MUSIC TELEVISION, INC.
		
	By:	 	/s/ David H. Williamson
		 	     David H. Williamson
		 	     Vice President – Real Estate

  

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 RULES AND REGULATIONS 
  

	1.	 No sign, advertisement, display, notice, or other lettering or picture shall be exhibited, inscribed, painted or affixed on any part of the outside of the
Building or inside, if visible from the outside, without Landlord’s written consent. 

  

	2.	 No awning or other projection shall ‘be attached to the outside walls of the Premises or the Building without, in each instance, the prior written consent
of Landlord. 

  

	3.	 All loading and unloading of goods shall be done only at such times, in the areas and through the entrances designated for such purposes by Landlord.

  

	4.	 No loudspeakers or other devices shall be used in a manner so as to be heard or seen outside of the Premises without the prior written consent of the landlord.

  

	5.	 No auction, fire, bankruptcy, second-hand or going-out-of-business sales or other promotions or sales (except for periodic sales in the normal course of
business) shall be conducted on or about the Premises without the prior written consent of the landlord. 

  

	6.	 The corridors immediately adjoining the Premises shall not be obstructed by the Tenant, and Tenant shall not place or permit any obstructions in such areas or in
the stairwells. 

  

	7.	 Tenant shall not suffer, allow or permit any vibration, noise, light, odor or other effect to emanate from the Premises, or from any machine or other
installation therein, or otherwise suffer, allow or permit the same to constitute a nuisance or otherwise interfere with the safety, comfort or convenience of Landlord or any of the other occupants of the Building or their customers, clients, agents
or invitees or any others lawfully in the Building. Tenant shall not store gasoline, kerosene, or any inflammable or combustible or hazardous substance on the Premises without the prior written consent of Landlord. Upon notice by Landlord to Tenant
that any of the aforesaid is occurring, Tenant agrees to forthwith remove or control the same. 

  

	8.	 Tenant’s entry doors shall at all times, except when in actual use, be kept closed. 

  

	9.	 Tenant shall have the right to move furniture and equipment into and out of the Premises of the Building without the express consent of Landlord; and all moving
of same into or out of Premises, by Tenant, shall be done at such time and in such manner as Landlord shall reasonably designate. Landlord shall have the right to prescribe the weight, size and position of all safes and other heavy property brought
into the Premises, and also the times and manner of moving the same in and out of the premises. Landlord shall not be responsible for loss or damage to any such safe or property from any cause; but all damage done to the Premises by moving or
maintaining any such safe or property shall be repaired at the expense of Tenant by contractors or mechanics named by Landlord. 

	10.	 Upon termination of the Lease, Tenant shall use reasonable efforts to surrender all keys, provided, however, that the surrender of such keys shall not in itself
be considered as a termination of the Lease or a surrender of the Premises. 

  

	11.	 Landlord or Landlord’s representative shall not be liable for excluding any person from the Building who is intoxicated or under the influence of liquor or
drugs or who shall in any manner do any act in violation of any of the rules and regulations of the Building. 

  

	12.	 Doors of the Premises are to be closed and securely locked when Tenant closes, and Tenant must observe strict care and caution that all water faucets and other
apparatus are shut off before Tenant’s employees leave the Premises. 

  

	13.	 Tenant shall not disturb, solicit or canvas any occupancy of the Building and shall cooperate to prevent the same. 

 FIRST AMENDMENT TO LEASE AGREEMENT 
 THIS FIRST AMENDMENT TO LEASE AGREEMENT (this “Amendment”) is made and entered into by and between FERRARI PARTNERS,
L.P., a Georgia limited partnership (“Landlord”), and COUNTRY MUSIC TELEVISION, INC., a Tennessee corporation (“Tenant”). 
 W I T N E S S E T H: 
 WHEREAS, K & M Enterprises, a Tennessee general
partnership, as the original lessor entered into a Lease Agreement dated March 4, 2002 (the “Lease”), with respect to leasehold premises located at 330 Commerce Street, Nashville, Davidson County, Tennessee (the “Premises”);
and 
 WHEREAS, K & M Enterprises, a Tennessee general partnership, assigned its interest in the Lease to
Landlord; and 
 WHEREAS, the parties have agreed to amend the Lease as more particularly set forth herein.

 NOW, THEREFORE, for and in consideration of the mutual covenants of the parties, and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the parties covenant and agree, and the Lease is amended, as follows: 
 1.      All capitalized terms used herein and not otherwise defined shall have the meaning set forth in the Lease. 
 2.      Tenant shall lease from Landlord on a temporary basis as set forth herein, space located on the first floor of the Building, consisting of 4,878 square feet, as more
particularly shown on the floor plan attached hereto as Exhibit A (the “Temporary Premises”). The Premises, as described in the Lease, shall include the Temporary Premises for the period of Tenant’s occupancy of the Temporary
Premises, and the terns of the Lease, as modified herein, governing use and occupancy of the Premises shall also apply to the Temporary Premises during the period of Tenant’s occupancy of the Temporary Premises. 
 3.      The term of the Lease with respect to the Temporary Premises shall commence on March 1, 2004 and shall
continue until and shall expire on April 30, 2004 (the “Initial Expiration Date”). Notwithstanding anything to the contrary contained herein, Tenant and its agents and employees shall have the right to access the Temporary Premises as
of the date of this Agreement to prepare the Temporary Premises for Tenant’s occupancy; provided, that such access shall be in compliance with the terms of the Lease except that Tenant shall not be liable for Fixed Minimum Rent or any other
rent with respect to the Temporary Premises until March 1, 2004. Tenant shall have one (1) option (the “Extension Option”) to extend the Lease for sixty (60) days with respect to the Temporary Premises. The Extension Option
may be exercised by Tenant by providing written notice to Landlord no later than fifteen (15) days prior to the Initial Expiration Date with respect to 

  

 1 

 
the Temporary Premises. 
 4.
     Tenant acknowledges that Landlord is actively marketing the Temporary Premises for commercial lease on a long term basis. In the event Landlord enters into a lease with a third party for the Temporary Premises, or any part
thereof, during the term of the Lease with respect to the Temporary Premises, Landlord shall have the right to terminate the Lease with respect to the Temporary Premises at any time after the Initial Expiration Date by giving Tenant thirty
(30) days’ prior written notice, and upon the expiration of such thirty (30) day period, the Lease shall terminate with respect to the Temporary Premises. The Lease shall terminate with respect to the Temporary Premises on the
thirtieth (30th) day after Tenant’s receipt of notice from Landlord of such termination (the “Termination Date”), and neither
party shall have any further obligation with respect to the Temporary Space after the Termination Date except such obligations which may have accrued prior to the Termination Date or which expressly survive the termination of the Lease with respect
to the Temporary Space. 
 5.      The Temporary Premises shall be leased by Landlord to Tenant in its AS
IS condition. Neither Tenant, its employees, guests, contractors, or other parties in the Temporary Premises at the invitation, request or on account of Tenant shall use, occupy, go into or otherwise be present in the remaining space of Landlord
without Landlord’s prior consent. 
 6.      Tenant may run telephone and data wires to the
Temporary Premises at Tenant’s expense. Electrical and other utility usage in the Temporary Premises shall be subject to the limitations and requirements of electrical and utility usage which are set forth in the Lease for the original
Premises. No electrical office equipment other than personal computers, telephones, printers, copiers, facsimile machines, televisions, and tape machines may be located on or installed upon the Temporary Premises except with the prior written
consent of Landlord, which may be withheld in Landlord’s sole discretion. Refrigerator, microwave oven and coffee maker may be installed only in the existing kitchen space located in the Temporary Premises. All installations of electrical lines
and equipment shall be performed by Tenant in accordance with the requirements of the Lease with respect to such matters and applicable building codes and industry standards. Upon termination of the Lease with respect to the Temporary Premises,
Tenant shall return the Temporary Premises to Landlord in as good condition as at the commencement of the term of the Lease with respect to the Temporary Premises, broom clean, and with all personal property removed from the Temporary Premises.
Tenant shall repair any damage to the Temporary Premises at Tenant’s sole cost and expense. 
 7.
     Fixed Minimum Rent for the Temporary Premises shall be payable on a monthly basis in the amount of $6,666.60 per month, which is based upon an annualized rental rate of $16.40 per square foot. Fixed Minimum Rent shall be
payable on the same day of the month as Fixed Minimum Rent is payable for the original Premises under the Lease. Rent for the first month, if for a portion of the month only, shall be payable on the date of commencement of the lease for the
Temporary Premises, and such rent shall be prorated for such initial month. 
 8.      Prior to
commencement of the Lease with respect to the Temporary Premises, Tenant shall furnish to Landlord a list of the persons who will occupy the Temporary Premises. 

  

 2 

 
Landlord shall furnish to Tenant access cards for such occupants, up to a maximum of 25 cards. All such access cards shall be returned by Tenant to Landlord
at termination of the Lease with respect to the Temporary Premises. 
 9.      The following provisions
of the Lease shall not be applicable to the Temporary Premises: Article II, Article III, Section 4.2, Section 4.4, Exhibit C. 
 10.      Except as otherwise set forth herein, the Lease remains unmodified and in full force and effect. 
 11.      This instrument contains the entire agreement of the parties and may not be amended or modified accept by an agreement in writing executed between the parties hereto.

 IN WITNESS WHEREOF, this instrument has been executed this 12th day of February, 2004. 
  

					
	 LANDLORD:

	
	 FERRARI PARTNERS, L.P.,

	 a Georgia limited partnership

			
		 	 By:
	 	 FERRARI MANAGEMENT COMPANY, LLC,

		 		 	 a Georgia limited liability company, General Partner

		
	 By:
	 	 /s/ Chad M. Ferrari

		 	      Chad M. Ferrari, Partner

	
	 TENANT:

	
	 COUNTRY MUSIC TELEVISION, INC.,

	 a Tennessee corporation

		
	 By:
	 	 /s/ David H. Williamson

		 	      Name: David H. Williamson

		 	      Title: V.P. Real Estate

  

 3 

 SECOND AMENDMENT TO LEASE AGREEMENT 
 THIS SECOND AMENDMENT TO LEASE AGREEMENT is made and entered into by and between FERRARI PARTNERS, L.P., a Georgia limited
partnership (“Landlord”), and COUNTRY MUSIC TELEVISION, INC., a Tennessee corporation (“Tenant”). 
 W I
T N E S S E T H: 
 WHEREAS, K & M Enterprises, a Tennessee general partnership, as the original lessor
entered into a Lease Agreement dated March 4, 2002 (the “Lease”), with respect leasehold premises located at 330 Commerce Street, Nashville, Davidson County, Tennessee (the “Premises”); and 
 WHEREAS, K & M Enterprises, a Tennessee general partnership, assigned its interest in the Lease to Landlord; and 

WHEREAS, the parties entered into the First Amendment to Lease Agreement dated February 12, 2004 (the “First
Amendment”), pursuant to which Landlord leased to Tenant additional space, which is therein called the “Temporary Premises,” pursuant to the terms and provisions set forth therein, and the parties have agreed to further amend Lease to
extend the term of the lease of the Temporary Premises pursuant to the terms and provisions set forth herein. 
 NOW,
THEREFORE, for and in consideration of the mutual covenants of the parties, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties covenant and agree, and the Lease is amended, as
follows: 
 1.      Any capitalized terms used herein and not otherwise defined shall have the meaning
set forth in the Lease, as previously amended. 
 2.      The term of the lease of the Temporary Premises
is extended from the Initial Expiration Date of April 30, 2004 until and including October 31, 2004 (the “Extended Expiration Date”). 
 3.      The one (1) Extension Option granted to Tenant in Section 3 of the First Amendment is terminated, and shall be of no further force and effect. 
 4.      Fixed Minimum Rent for the Temporary Premise’s shall continue to be payable on a monthly basis in the
amount of $6,666.60 per month as set forth in Section 7 of the First Amendment. 
 5.     
Section 4 of the First Amendment is hereby amended to provide that Landlord shall have the right to terminate the Lease with respect to the Temporary Premises at any time after the Initial Expiration Date (as such term is defined therein) by
giving Tenant forty-five (45) days’ prior written notice. The Lease shall terminate with respect to the Temporary Premises on the forty-fifth (45th) day after Tenant’s receipt of such notice from Landlord of such termination (the “Termination Date”), and neither party shall have any further obligation with respect to the Temporary Space after the Termination Date
except such obligations which may have accrued prior to the 

  

 1 

 
Termination Date or which expressly survive the termination of the Lease with respect to the Temporary Space. 
 6.   The terms and provisions of the Lease, as modified by the First Amendment, shall continue in full force and effect and
shall govern the use and occupancy of the Temporary Premises by Tenant, except as specifically set forth herein. 
 7.
  Except as otherwise set forth herein, the Lease remains and shall continue in full force and effect. This instrument contains the entire agreement of the parties and may not be amended or modified except by an agreement in writing
executed between the parties hereto. 
 IN WITNESS WHEREOF, this instrument has been executed this 30th day of April, 2004. 
  

							
	 LANDLORD:

	
	 FERRARI PARTNERS, L.P.,

	 a Georgia limited partnership

			
		 	 By:
	 	 FERRARI MANAGEMENT COMPANY, LLC,

		 		 	 a Georgia limited liability company, General Partner

			
		 	 By:
	 	 /s/ Chad M. Ferrari

		 		 	 Chad M. Ferrari

		
		 	 TENANT:

		
		 	 COUNTRY MUSIC TELEVISION, INC.,

		 	 a Tennessee corporation

			
		 	 By:
	 	 /s/ David H. Williamson

		 		 	 David H. Williamson

		 		 	Vice President Real Estate

  

 2 

 THIRD AMENDMENT TO LEASE AGREEMENT 
 THIS THIRD AMENDMENT TO LEASE AGREEMENT is made and entered into by and between FERRARI PARTNERS, L.P., a Georgia limited
partnership (“Landlord”), and COUNTRY MUSIC TELEVISION, INC., a Tennessee corporation (“Tenant”). 
 W I
T N E S S E T H: 
 WHEREAS, K & M Enterprises, a Tennessee general partnership, as the original lessor
entered into a Lease Agreement dated March 4, 2002 (the “Lease”), with respect to leasehold premises located at 330 Commerce Street, Nashville, Davidson County, Tennessee (the “Premises”); and 
 WHEREAS, K & M Enterprises, a Tennessee general partnership, assigned its interest in the Lease to Landlord; and 

WHEREAS, the parties entered into the First Amendment to Lease Agreement dated February 12, 2004 (the “First
Amendment”), pursuant to which Landlord leased to Tenant additional space, which is therein called the “Temporary Premises,” pursuant to the terms and provisions set forth therein, and the parties entered into a Second Amendment to
Lease Agreement dated April 30, 2004 (the “Second Amendment”) pursuant to which the term of the lease of the Temporary Premises was extended, and the parties have agreed to further amend Lease to extend the term of the lease of the
Temporary Premises pursuant to the terms and provisions set forth herein. 
 NOW, THEREFORE, for and in consideration
of the mutual covenants of the parties, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties covenant and agree, and the Lease is amended, as follows: 
 1.      Any capitalized terms used herein and not otherwise defined shall have the meaning set forth in the Lease, as
previously amended. 
 2.      The term of the lease of the Temporary Premises is extended from
October 31, 2004 until and including April 30, 2005 (the “Extended Expiration Date”). 
 3.
     Fixed Minimum Rent for the Temporary Premises shall continue to be payable on a monthly basis in the amount of $6,666.60 per month as set forth in Section 7 of the First Amendment. 
 4.      The terms and provisions of the Lease, as modified by the First Amendment and the Second Amendment, shall
continue in full force and effect and shall govern the use and occupancy of the Temporary Premises by Tenant, except as specifically set forth herein. 

 5.   Except as otherwise set forth herein, the Lease remains and shall continue
in full force and effect. This instrument contains the entire agreement of the parties and may not be amended or modified except by an agreement in writing executed between the parties hereto. 
 IN WITNESS WHEREOF, this instrument has been executed this 3rd day of November, 2004. 
  

					
	 LANDLORD:

	
	 FERRARI PARTNERS, L.P.,

	 a Georgia limited partnership

			
		 	 By:
	 	 FERRARI MANAGEMENT COMPANY, LLC,

		 		 	 a Georgia limited liability company, General Partner

			
		 	 By:
	 	 /s/ Chad M. Ferrari

		 		 	 Chad M. Ferrari

	 TENANT:

	
	 COUNTRY MUSIC TELEVISION, INC.,

	 a Tennessee corporation

		
	 By:
	 	 /s/ David H. Williamson

		 	   Name: David H. Williamson

		 	  Title: Vice President- Real Estate

 FOURTH AMENDMENT TO LEASE AGREEMENT 
 THIS FOURTH AMENDMENT TO LEASE AGREEMENT is made and entered into by and between FERRARI PARTNERS, L.P., a Georgia
limited partnership (“Landlord”), and COUNTRY MUSIC TELEVISION, INC., a Tennessee corporation (“Tenant”). 
 W I T N E S S E T H: 
 WHEREAS, K & M Enterprises, a Tennessee general partnership, as the
original lessor entered into a Lease Agreement dated March 4, 2002, a First Amendment to Lease Agreement dated February 12, 2004, a Second Amendment to Lease Agreement dated April 30, 2004 and a Third Amendment to Lease Agreement
dated November 3, 2004 (collectively, the “Lease”), with respect leasehold premises located at 330 Commerce Street, Nashville, Davidson County, Tennessee (the “Premises”); and 
 WHEREAS, K & M Enterprises, a Tennessee general partnership, assigned its interest in the Lease to Landlord; and 

WHEREAS, the parties have agreed to further amend Lease to extend the term of the lease of the Temporary Premises pursuant to
the terms and provisions set forth herein. 
 NOW, THEREFORE, for and in consideration of the mutual covenants of the
parties, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties covenant and agree, and the Lease is amended, as follows: 
 1.      Any capitalized terms used herein and not otherwise defined shall have the meaning set forth in the Lease, as
previously amended. 
 2.      The term of the lease of the Temporary Premises is extended on a
month-to-month basis from and after the Extended Expiration Date of April 30, 2005. Either party hereto shall have the right to terminate the Lease with respect to the Temporary Premises upon thirty (30) days’ written notice to the
other party. 
 5.      Except as otherwise set forth herein, the Lease remains and shall continue in
full force and effect. This instrument contains the entire agreement of the parties and may not be amended or modified except by an agreement in writing executed between the parties hereto. 
  

 1 

 IN WITNESS WHEREOF, this instrument has been executed this
         day of August, 2005 and is effective the 1st day of May, 2005. 
  

					
	 LANDLORD:

	
	 FERRARI PARTNERS, L.P.,

	 a Georgia limited partnership

			
		 	 By:
	 	 FERRARI MANAGEMENT COMPANY, LLC,

		 		 	 a Georgia limited liability company, General Partner

			
		 	 By:
	 	 /s/ Chad M. Ferrari

		 		 	 Chad M. Ferrari

	
	 TENANT:

	
	 COUNTRY MUSIC TELEVISION, INC.,

	 a Tennessee corporation

		
	 By:
	 	 /s/ David H. Williamson

		 	  Name: David H. Williamson
		 	  Title: V.P. Real Estate

  

 2 

 FIFTH AMENDMENT TO LEASE AGREEMENT 
 THIS FIFTH AMENDMENT TO LEASE AGREEMENT (this “Amendment”) is made and entered into by and between FERRARI PARTNERS,
L.P., a Georgia limited partnership (“Landlord”) and COUNTRY MUSIC TELEVISION, INC., a Tennessee corporation (“Tenant”). 
 WITNESSETH: 
 WHEREAS, K & M Enterprises, a Tennessee general partnership,
as the original lessor entered into a Lease Agreement dated March 4, 2002 (the “Lease Agreement”) with respect to leasehold Premises located at 330 Commerce Street, Nashville, Davidson County, Tennessee; and 
 WHEREAS, K & M Enterprises, a Tennessee general partnership, assigned its interest in the Lease to Landlord; and 

WHEREAS, the Lease Agreement was previously amended by First Amendment to Lease Agreement dated February 12, 2004 (the
“First Amendment”), by Second Amendment to Lease Agreement dated April 30, 2004 (the “Second Amendment”), by Third Amendment to Lease Agreement dated November 3, 2004 (the “Third Amendment”) and by Fourth
Amendment to Lease Agreement dated August 9, 2005 (the Lease Agreement, as amended, is herein called the “Lease”); and 
 WHEREAS, the parties have agreed that additional space shall be leased by Landlord to Tenant and that the Lease shall be further amended all as set forth herein. 
 NOW, THEREFORE, for and in consideration of the mutual covenants of the parties, and other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties covenant and agree, and the Lease is amended, as follows: 
 1.      Any capitalized terms used herein and not otherwise defined shall have the meaning set forth in the Lease, as previously amended, and as amended hereby. 
 2.      Landlord leases to Tenant additional space consisting of the entire Second Floor of the Building, consisting
of 28,672 rentable square feet, in addition to the space currently defined as the Premises as set forth in the Lease. Accordingly, the indicated provisions of the Lease are amended as follows: 
 (a)      In Section 1.1, “Fundamental Lease Provisions,” the definition of “NET RENTABLE AREA OF
PREMISES” is amended to read as follows: 
 57,345 square feet on the Third and Fourth Floors of the
Building and 28,672 square feet on the Second Floor of the Building for a total of 86,017 square feet. 

 (b)      The first two sentences of Subsection (a),
Section 2.1, “Premises,” are amended to read as follows: 
 Landlord hereby leases to Tenant
and Tenant hires and takes from Landlord the premises (the “Premises”) comprising the entire Third, Fourth and Second Floors of the office Building known as 330 Commerce Street, Nashville, Tennessee (the “Building”) located
within the parcel of air space (the “Parcel”) described on Exhibit “A” attached hereto. The Premises contain 57,345 rentable square feet on the Third and Fourth Floors, and 28,672 rentable square feet on the Second Floor,
and are delineated on the Space Plans attached hereto as Exhibit “B”. 
 (c)      The
drawing of the floor plan of the Second Floor of the Building showing the additional space on the Second Floor to be included with the Premises which is shown as the Exhibit “B” attached hereto, shall be included with the Exhibit
“B” to the Lease. 
 (d)      The additional 28,672 rentable square feet which is included
within the Lease herein, shall be a part of the Premises as defined in the Lease, but is also designated as the “Expansion Premises” herein. The initial 57,345 rentable square feet of the Premises is herein sometimes called the
“Initial Premises.” 
 3.      The first paragraph of Section 2.2, “Term; Renewal
Terms,” is amended as follows: 
 (a)      The Commencement Date of the Lease for the Expansion
Premises shall be the date of issuance of a Certificate of Occupancy, or other equivalent certificate, by the Metropolitan Government of Nashville and Davidson County on completion of Tenant’s Work for the Expansion Premises, or June 1,
2006, whichever is earlier. 
 (b)      The term of the Lease for the Expansion Premises shall be eighty
four (84) months from the Rent Commencement Date and the term of the Lease for the Initial Premises shall be extended to the date eighty four (84) months after the Rent Commencement Date for the Expansion Premises. Landlord and Tenant
shall execute a letter agreement verifying the actual Rent Commencement Date if earlier than June 1, 2006. If no letter agreement setting an earlier Rent Commencement Date is executed, then the Rent Commencement Date shall be June 1, 2006.
In the event the Rent Commencement Date is June 1, 2006, then the Termination Date of the initial term of the Lease shall be eighty four (84) months thereafter, which Termination Date shall be May 31, 2013. The Termination Date of
September 30, 2009 contained in Section 1.1, “Fundamental Lease Provisions,” is changed to the Termination Date to be determined as set forth in this Section. 
 (c)      The Rent Commencement Date for the Expansion Premises all be the date four (4) months after the date
of occupancy of the Expansion Premises by Tenant, or June 1, 2006, whichever is earlier. 

 (d)   Tenant may have access to the Expansion Premises upon the mutual
execution and delivery of this Amendment for the purpose of installation of equipment by Tenant in accordance with the provisions hereof. Tenant’s access pursuant to this paragraph (d) shall not constitute occupancy of the Expansion
Premises for purposes of this Section 3 and Tenant shall have no obligation to pay Fixed Minimum Rent by reason of such access. 
 4.   The second, third and fourth paragraphs of Section 2.2, “Term; Renewal Teams,” governing Renewal Terms, are amended as follows: 
 (a)   Tenant shall continue to have two (2) Renewal Options of sixty (60) additional months each following
expiration of the initial term, as extended by this Amendment. The terms and provisions of the Renewal Options shall continue to be governed by the provisions of Section 2.2, “Term; Renewal Terms,” except that: 
 (i)   The Fixed Minimum Rent for the Premises during the first Renewal Term shall be as follows: 
  

			
	 Year One
	  	 $19.10 per square foot or $136,910.39 per month

	 Year Two
	  	 $19.50 per square foot or $139,777.62 per month

	 Year Three
	  	 $19.90 per square foot or $142,644.85 per month

	 Year Four
	  	 $20.30 per square foot or $145,512.09 per month

	 Year Five
	  	 $20.70 per square foot or $148,379.32 per month

 (ii)   The Fixed Minimum Rent for the second Renewal Term shall be at
ninety five percent (95%) of the Prevailing Rent, to be determined as provided in Section 2.2. 
 5.
  The term of the leases of the Parking Area under Section 2.1, Subsection (b), and the Additional Spaces under Section 2.1, Subsection (c), are extended until the Termination Date of the Lease, as defined in this Amendment.
There shall be no Renewal Terms of the leases of the Parking Area or Additional Spaces, except as otherwise agreed to in writing by the parties hereto. Otherwise, the leases of the Parking Area and the Additional Spaces are subject to all the terms
and provisions of Subsections (b) and (c) of Section 2.1. 
 6.   The provisions of
Section 2.3, “Completion and Occupancy,” are amended to provide that Landlord leases the Expansion Premises to Tenant on an AS IS basis, and Landlord shall not be required to perform any work on the Expansion Premises or with respect
to the internal stairwell between the second and third floors of the Building. Notwithstanding the foregoing, Landlord agrees to deliver vacant, broom clean possession of the Expansion Premises upon full execution of this Amendment. If Tenant elects
to open the internal stairwell and has received all required permits and/or approvals from the appropriate governmental authority, Landlord hereby agrees to consent to such construction; provided, however, that Tenant agrees to use commercially
reasonable efforts to construct the internal stairwell using a similar width and similar railings as currently used on the internal stairwell connecting the Third and Fourth Floors of the Building. If Tenant does not elect to open the internal
stairwell, Tenant shall have the right, at Tenant’s election, to (x) erect drywall to cover the existing two (2) doors located by such 

 
internal staircase or (y) erect drywall to cover the entire glass enclosure enclosing such internal. Accordingly, there is no “Landlord’s
Work” for the Expansion Premises or with respect to, or on, such internal stairwell. Tenant shall have full responsibility for performance of all leasehold improvements on the Expansion Premises. Landlord represents and warrants that as of the
date hereof, all Building systems servicing the Expansion Premises (i.e., HVAC, plumbing, electrical and mechanical) shall be in good repair and working order. 
 7.   Tenant shall perform at Tenant’s sole cost and expense all improvements to the Premises necessary or desired by Tenant for Tenant’s occupancy of or expansion to the
Expansion Premises. Landlord shall have no responsibility for any such improvements, and there shall be no Landlord’s Work for the Expansion Premises, or with respect to the internal stairwell between the second and third floors of the
Building, or with respect to any work or reconfiguration by Tenant on the third and fourth floors of the Premises on account of its occupancy of or expansion to the Expansion Premises. To this end Section 2.3, “Completion and
Occupancy,” and all of Article III, “Construction,” which includes Sections 3.1 through 3.3 shall govern the Tenant’s improvement and occupancy of the Premises, except for the following modifications: 
 (a)   In Section 2.3.1 the right granted by Landlord to Tenant to demolish existing improvements is extended to
demolition of existing improvements on the Expansion Premises and the opening of the internal stairwell as set forth in Section 6 above. The reference to Landlord’s obligation to deliver the thirty (30) Ton Trane rooftop unit is
deleted, since the Landlord has completed this obligation. The second, third, fourth, fifth and sixth paragraphs of Section 2.3.1 are deleted in their entirety, since these paragraphs are applicable only to Landlord’s obligation to perform
certain work with respect to the Initial Premises which has been completed. 
 (b)   The provisions of
Section 2.3.2 shall be applicable to Tenant’s Work on the Premises (including the Expansion Premises), except that there shall be no Landlord’s Work on the Expansion Premises, or with respect to the internal stairwell between the
second and third floors of the Building, or with respect to any work or reconfiguration by Tenant on the third and fourth floors of the Premises on account of its occupancy of or expansion to the Expansion Premises. Tenant shall have all the
obligations for completion of construction and compliance with applicable laws and regulations, including the Americans with Disabilities Act, which are set forth in Section 2.3.2. 
 (c)   Tenant shall submit to Landlord, prior to commencement of any demolition or any construction of Tenant’s Work on
the premises (including the Expansion Premises), the final plans and drawings for such work for Landlord’s review and approval, as provided in Section 2.3.3, which plans and drawings shall include those for any work or reconfiguration by
Tenant on the third and fourth floors of the Premises on account of its occupancy of or expansion to the Expansion Premises. The reference to the third and fourth floors in the second sentence of Section 2.3.3 shall be changed to refer to the
“Expansion Premises.” Notwithstanding Section 2.3.3, in the event review of the final plans and drawings by Landlord requires, in the reasonable judgment of Landlord, review by a structural, electrical or mechanical engineer, then the
allowable review period shall be extended to a period equal to 

 
twelve (12) business days after delivery to Landlord of the last to be delivered report of the engineers consulted to review the plans and drawings. In
the event Landlord fails to approve or disapprove the plans and drawings within such twelve (12) day period, Landlord shall be deemed to have granted its approval. The final plans and drawings for construction of the Expansion Premises shall be
automatically included as Exhibit “C” to the Lease upon approval by Landlord. Additionally, any movement of electrical equipment, machinery or other items from an area on the third or fourth floor which is separately metered for electric
usage, as provided under Section 5.1, (and therefore off the separate meter) to an area in the Premises (whether in the Expansion Premises or on the Third or Fourth Floor) that is not separately metered is subject to Landlord’s prior
review and approval, which approval shall not be unreasonably withheld, conditioned or delayed. 
 (d)
     Section 3.1, “Construction of Premises; Tenant’s Work,” is amended to provide that during performance of Tenant’s Work, 
 (i)       Tenant must make all deliveries to the Premises through the loading dock and Tenant will not be afforded access to the Premises through the lobby or front
entrance of the Building, except that Landlord will grant permission to allow delivery through the front entrance of the Building before or after normal business hours for items which are too large to be delivered through the loading dock hallways
if such permission is specifically requested prior to delivery; provided, further, that Landlord will entertain requests to allow delivery of oversized items through the front entrance of the Building in circumstances in which delivery before or
after normal business hours is impractical, and in these situations consent of Landlord will not be unreasonably withheld, conditioned or delayed; 
 (ii)     Tenant will not be allowed to use the top floor of the Parking Area as a staging area; 
 (iii)    On a daily basis, Tenant will work with general contractor to insure they shall use commercially reasonable efforts to: (1)control the dust caused from demolition and construction during the
performance of Tenant’s Work and (2) keep all parts of the Building outside of the Expansion Premises free from dust and demolition and construction debris and materials; and 
 (iv)    Landlord may charge Tenant for, and Tenant shall pay upon thirty (30) days written demand therefor, all
reasonable costs for any (1) extra cleaning of the Building (outside the Expansion Premises) which must reasonably be done on account of dust or debris from the demolition and construction in the Expansion Premises, (2) extra filters for,
or cleaning, maintenance and repair of, the HVAC or other systems serving the Building, which must 

 
reasonably be done on account of dust or debris from the demolition and construction in the Expansion Premises; and to return such systems back to their
pre-demolition and pre-construction condition, normal wear and tear accepted, and (3) damage to elevators caused by Tenant from Tenant’s demolition or construction activity. 
 As provided in Section 3.1, Tenant shall not be charged for normal use of electricity and HVAC, or for use of elevators or freight dock during Tenant’s performance of Tenant’s Work
for the Expansion Premises. 
 8.       Section 4.2, “Fixed Minimum Rent,” is
modified as follows: 
 (a)       Fixed Minimum Rent for the Initial Premises shall continue
to be paid through September 30, 2009, which is the end of lease year 7 of the initial term of the Lease, as provided in Section 4.2 of the Lease. 
 (b)        From October 1, 2009 through the Lease Termination Date determined as provided in this Amendment (which shall be the date eighty four
(84) months after the Rent Commencement Date for the Expansion Premises), Fixed Minimum Rent for the Initial Premises shall be as follows: 
  

			
	10/1/09 through 5/31/10	  	$83,628.13 per month ($17.50 per square foot)
	6/1/10 though 5/31/11	  	$85,539.63 per month ($17.90 per square foot)
	6/1/11 through 5/31/12	  	$87,451.13 per month ($18.30 per square foot)
	6/1/12 through	  	
	Termination Date	  	$89,362.63 per month ($18.70 per square foot)

 (c)        Fixed Minimum Rent for the
Expansion Premises shall be payable as follows: 
  

			
	Rent Commencement Date	  	
	through 5/31/07	  	$38,946.13 per month ($16.30 per square foot)
	6/1/07 through 5/31/08	  	$39,901.87 per month ($16.70 per square foot)
	6/1/08 through 5/31/09	  	$40,857.60 per month ($17.10 per square foot)
	6/1/09 through 5/31/10	  	$41,813.33 per month ($17.50 per square foot)
	6/1/10 through 5/31/11	  	$42,769.07 per month ($17.90 per square foot)
	6/1/11 through 5/31/12	  	$43,724.80 per month ($18.30 per square foot)
	6/1/12 through Termination Date	  	$44,680.53 per month ($18.70 per square foot)

 (d)       Landlord agrees to reduce the Fixed
Minimum Rent for the Premises as an incentive for Tenant to occupy the entire Expansion Premises, by the amount of $9,769.01 monthly for the balance of the initial term of the Lease, as extended hereby, and as a further incentive to defer the
out-of-pocket improvement costs incurred by Tenant, Landlord agrees to refund $410,298.60 of the aggregate amount of the above incentive within 30 days of 

 
the full execution of this Amendment and the remaining $410,298.60 of the aggregate amount on or before December 1, 2005. 
 (e)   In the event of exercise by Tenant of any of the Renewal Options granted in the Lease, as modified herein, then Landlord
agrees to a Tenant improvement allowance of $1.50 per rentable square foot per year of the Renewal Term, to be used for improvements to the Premises. 
 9.       Section 4.4, “Operating Expenses,” is amended as follows: 
 (a)       For the Initial Premises, Tenant shall continue to pay Operating Expenses computed as set forth in Section 4.4.1 of the Lease. Tenant’s Percentage of the net rentable
area of the Building to be used in computation of the Operating Expenses for the Initial Premises shall continue to be fifty percent (50%) as provided in Section 4.4.1. 
 (b)       For the Expansion Premises, Tenant shall pay Operating Expenses as set forth in
Section 4.4.1 in addition to the Fixed Minimum Rent for the Expansion Premises, except that the following changes shall be made in Section 4.4.1 for purposes of computation of Operating Expenses for the Expansion Premises: 
 (i)   The amount of Operating Expenses to be paid for the Expansion Premises shall be the increase in Operating Expenses paid
in any calendar year in excess of the actual Operating Expenses paid in the year Tenant takes occupancy of the Expansion Premises, which shall be the Base Year for computation for Operating Expenses for the Expansion Premises. 
 (ii)   Tenant’s Percentage of the net rentable area of the Building for purposes of computation of Tenant’s share of
increase in Operating Expenses for the Expansion Premises shall be twenty five percent (25%) and shall assume a ninety five percent (95%) occupancy for the Building. 
 10.     Section 5.1, “Utilities,” is amended to provide that the first forty (40) hours of After-Hours HVAC furnished to Tenant in the Expansion Premises
only will be furnished by Landlord at no charge to Tenant. (Such forty hours of no-charge After-Hours HVAC is over the entire term of the Lease, and not forty hours per month or year.) Thereafter, After-Hours HVAC shall be furnished at the cost
charged as determined under Section 5.1. Furnishing of HVAC, electrical and other utility services shall be as set forth in Section 5.1, and Exhibit D concerning HVAC, and the provisions regarding “Excess Electric Usage (and
Tenant’s obligations therefor) shall continue to be in effect and apply to the Premises (including the Expansion Premises). 
 11.     Section 6.4, “Services,” is amended to provide that Landlord’s management staff will be available to Tenant on a twenty-four (24) hour basis. Notwithstanding the above, Landlord’s
staff will respond to an emergency call within a maximum time limit two (2) hours after a call is initiated at the telephone number or pager number furnished by Landlord to Tenant. The providing of this 

 
response to an emergency is subject to the provisions of Section 6.4 of the Lease. Landlord shall hold Tenant harmless for any performance of services
by an employee of Tenant, or a contractor or an agent of Tenant, who is requested by Landlord to reset or otherwise provide services for the Building fire alarm or elevator systems and shall indemnify Tenant from all claims, damages or expenses
arising from such performance of service. 
 Notwithstanding anything in the Lease to the contrary, unless and until
Landlord leases the first floor of the Building to a third party, any additional Operating Expenses for security purposes will be paid by Tenant. In the event Landlord leases the first floor to an outside, unrelated third party (i.e., not related to
Tenant, its parent, or any subsidiaries of parent) during the term of the we, or any renewal thereof, Landlord will be responsible for one fourth (1/4) of the cost of one lobby security guard between the hours of 8:00 a.m. and 5:00 p.m., Monday
through Friday. Landlord will provide security for the vacant portions of the first floor space and access thereto, upon Tenant’s occupancy of the second floor. In the event Landlord leases the first floor to a third party tenant, Landlord will
assume responsibility for the Building security costs, and in this event Tenant will reimburse Landlord for the following standard Building security personnel: one (1) position of front lobby security guard filled 24 hours, 7 days per week; one
(1) security guard patrolling the parking garage 40 hours per week; and one (1) Security Supervisor. Landlord will pay for one-fourth ( 1/4) of the cost of one (1) lobby security guard between the hours of 8 a.m. and 5 p.m., Monday through Friday, on a monthly basis at the actual rates charged by security company. Tenant will continue the management
of their security staff. Notwithstanding anything to the contrary contained herein, Tenant shall, at Tenant’s sole cost and expense, arrange for any additional security required by Tenant for any special events hosted by Tenant in the Building.

 Landlord will pay up to the sum of $3,000.00 for installation by Tenant of an elevator security system in the
parking garage elevators, provided that such installation is approved in advance by Landlord, which approval shall not be unreasonably withheld, conditioned or delayed. 
 As long as Tenant remains the only tenant in the Building, up to two (2) employees of Tenant may be trained on the card reader system for employee badges and such trained Tenant employees
may have access to the Building security system for employee badges for the purpose of updating Tenant’s security badges only. Tenant shall be fully responsible and liable for any negligence or willful misconduct of employees of Tenant arising
out of access to the security system or harm to the security system caused by an employee of Tenant. 
 12.
    Section 7.2.2 is amended to provide that the cost of any non-structural alterations or improvements to the Premises not requiring Landlord’s approval is increased from an amount less than $25,000.00 to an amount
less than $75,000.00. 

 13.       Section 7.2.3 is amended to provide that
Landlord will respond to a written request from Tenant for consent to the assignment or subletting of the Premises within thirty (30) days after such written request, together with audited financial statements of the proposed assignee or
sublessee, is delivered in accordance with the notice requirement of the Lease. Landlord’s failure to respond within such thirty (30) day period shall be deemed to be Landlord’s consent to such assignment or subletting. All income
from an assignment or subletting in excess of the applicable Fixed Minimum Rent and other items of Rent, less the actual out of pocket costs of legal fees and brokerage commissions, not in excess of market rates for comparable downtown office space
in Nashville, Tennessee, incurred by Tenant in connection with such assignment or subletting, provided in the Lease shall be divided fifty percent (50%) to Landlord and fifty percent (50%) to Tenant. 
 14.       Section 10.1, “Notices,” is amended to provide that the notice address for the
Landlord shall be as follows: 
 Ferrari Partners, L.P. 
 Attn: Keith Ferrari/Chad Ferrari 
 357 Riverside Drive, Suite 230A 
 Franklin, Tennessee 37064 
 Telephone: 615-591-2727 
 Facsimile: 615-591-2722 
 And that the notice address for the Tenant shall be as follows: 
 Country Music Television, Inc. 
 Attn: General Manager 
 330 Commerce Street 
 Nashville, Tennessee 37201 
 With a copy to: 
 Viacom Inc. 
 1515 Broadway, 45th Floor 
 New York, New York 10036 
 Attention: General Council 
 15.     Section 10.15, “Right of
First Refusal; Right to ‘Expand,” is amended as follows: 
 (a)
      Section 10.15.1 is amended to provide: 
 (i)
      That the word “ongoing” is inserted in front of the phrase “right of first refusal” on the second line of Section 10.15.1. 
 (ii)       In the event Tenant exercises its right of first refusal to lease the entire first floor during
the first thirty six (36) months of the lease of the Expansion 

 
Premises, the Fixed Minimum Rent for the first floor shall be at the same per square foot rate or rates as the Fixed Minimum Rent for the Expansion Premises
for the same period and the term of the Lease shall be the remaining term of the Lease as extended hereby. Tenant shall pay all other charges and Rent as set forth in the Lease, as amended hereby and the lease of the first floor shall be otherwise
subject to the provisions hereof, except that any rent rebate, or other similar concession, will be given on a prorata basis based on the remaining percentage of the eighty four (84) month term of the lease of the Expansion Premises using a
rebate amount of $19.50 per square foot. To calculate the amount of rebate, the number of square feet of the entire first floor will be multiplied by $19.50, and the product of this calculation will be multiplied by the percentage of the lease term
of the Expansion Premises remaining to run as of the commencement of the lease of the right of first refusal premises. 
 If
Tenant exercises its right of first refusal to lease the entire first floor after thirty six (36) months from the Commencement Date of the lease of the Expansion Premises, then the Fixed Minimum Rent shall be an amount equal to the Prevailing
Rent, calculated in accordance with the procedures set forth in Section 2.2 of the Lease without rebate. All other amounts payable under the Lease, whether Rent or otherwise, shall be the amounts set forth or as determined in the Lease as
amended hereby. 
 In the event Tenant exercises its right of first refusal to lease less than the entire first floor at any
time during the term of the Lease, then the terms and conditions of the lease of such portion of the first floor shall be the same terms and conditions of the third party offer presented to Tenant on the basis of which Tenant exercises its right of
first refusal 
 (b)       The parties acknowledge and agree that the one time Expansion Right
granted to Tenant in Section 10.15.2 has expired and is of no further force and affect. 
 16.
      Landlord further leases to Tenant effective upon the date of execution hereof an additional 5,000 rentable square feet of space on the first floor of the Building, the location of which. is more particularly
described on Exhibit C attached hereto and incorporated herein, for use by Tenant as transition space (the “Transition Space”), said Lease to be for a period of ten (10) months or until 30 days after occupancy of Second Floor,
whichever is later, provided that any such lease shall be terminable on thirty (30) days’ written notice by Landlord to Tenant if Landlord leases the entire first floor to a third party. In the event Landlord leases a portion but not the
entire first floor to a third party (the “Third Party Space”), Landlord shall have the right upon thirty (30) days’ prior notice, provided .commercially comparable space is available, to relocate the Transition Space (the
“Relocated Transition Space”). Tenant hereby agrees to waive any claims (but specifically excluding any claims arising from the negligence or willful misconduct of Landlord or Landlord’s employees, agents or contractors) against
Landlord for interference with Tenant’s use or occupancy of the Relocated Transition Space resulting from the initial build out of the Third Party Space. In the event Tenant, in its sole and absolute discretion, deems the Relocated Transition
Space unsuitable for Tenant’s purposes, Tenant shall have the right to terminate such lease upon ten (10) days’ prior notice to Landlord. Fixed Minimum Rent for the Transition Space for the first six (6) months of the lease will
be free. 

 Thereafter, rent for months seven (7) through ten (10), or until after 30 days after occupancy of
Second Floor, will be at the rate of $16.40 per rentable square foot, payable on the first day of each month, in advance. If Tenant needs to expand the square footage of the “Transition Space” during the above referenced term, Tenant shall
pay, following Tenant’s occupancy of such expanded transition space, $16.40 per rentable square foot for any square footage over the 5,000 square feet on the date of occupancy. 
 17.       The Lease is further amended to the extent necessary to conform to the foregoing. Except as
otherwise set forth herein, this Lease remains unmodified and in full force and effect. This Amendment contains the entire agreement of the parties and may not be amended or modified except by an agreement in writing executed between the parties
hereto. This Amendment may be executed in one or more counterparts, each of which shall be deemed an original and when taken together, shall constitute one and the same instrument. 
 IN WITNESS WHEREOF, this Amendment has been executed this          day of August,
2005. 
  

					
	LANDLORD:
	
	FERRARI PARTNERS, L.P.,
	a Georgia limited partnership
			
		 	By:	 	FERRARI MANAGEMENT COMPANY, LLC,
		 		 	a Georgia limited liability company, General Partner
	
	            By: /s/ Chad M.
Ferrari                                    
	                   Chad M. Ferrari, Secretary
	
	TENANT:
	
	COUNTRY MUSIC TELEVISION, INC.,
	a Tennessee corporation
	
	By: /s/ David H.
Williamson                                    
	          Name: David H.
Williamson                              
	          Title: V.P. Real
Estate                                        

 SIXTH AMENDMENT TO LEASE AGREEMENT 
 THIS SIXTH AMENDMENT TO LEASE AGREEMENT (this “Amendment”) is made and entered into by and between FERRARI PARTNERS,
L.P., a Georgia limited partnership (“Landlord”), and COUNTRY MUSIC TELEVISION, INC., a Tennessee corporation (“Tenant”). 
 W I T N E S SE T H: 
 WHEREAS, Landlord (as successor-in-interest to K & M
Enterprises, a Tennessee general partnership, the original lessor) and Tenant are parties to that certain Lease Agreement dated March 4, 2002, as modified by a First Amendment to Lease Agreement dated February 12, 2004, a Second Amendment
to Lease Agreement dated April 30, 2004, a Third Amendment to Lease Agreement dated November 3, 2004, Fourth Amendment to Lease Agreement dated August 9, 2005, and a Fifth Amendment to Lease Agreement dated September 16, 2005
(collectively referred to hereinafter as, the “Lease”), with respect leasehold premises located at 330 Commerce Street, Nashville, Davidson County, Tennessee (the “Premises”); and 
 WHEREAS, the parties have agreed to further amend the Lease as more particularly set forth herein. 
 NOW, THEREFORE, for and in consideration of the mutual covenants of the parties, and other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties covenant and agree, and the Lease is amended, as follows: 
 1.         All capitalized terms used herein and not otherwise defined shall have the meaning set forth in the Lease. 
 2.         Tenant shall lease from Landlord on a temporary basis as set forth herein, space located on the first floor of the Building, consisting of
approximately 2,880 square feet, as more particularly shown on the floor plan attached hereto as Exhibit A (the “Second Temporary Premises”). The Premises, as described in the Lease, shall include the Second Temporary Premises for the
period of Tenant’s occupancy of the Second Temporary Premises, and the terms of the Lease, as modified herein, governing use and occupancy of the Premises shall also apply to the Second Temporary Premises during the period of Tenant’s
occupancy of the Second Temporary Premises. 
 3.         The term of the Lease with
respect to the Second Temporary Premises shall commence on March 17, 2006 and shall continue until and shall expire on April 7, 2006. Notwithstanding anything to the contrary contained herein, Tenant and its agents and employees shall have
the right to access the Second Temporary Premises as of the date of this Agreement to prepare the Second Temporary Premises for Tenant’s occupancy; provided, that such access shall be in compliance with the terms of the Lease except that Tenant
shall not be liable for Fixed Minimum Rent or any other rent with respect to the Second Temporary Premises until March 17th, 2006. Tenant acknowledges that Landlord is actively marketing the Second Temporary Premises for 

 2 
 commercial lease on a long term basis. As provided herein and with Landlord’s approval, Tenant shall have the right to extend the term of the Lease with respect to the Second Temporary Premises on a week-by week basis, upon providing
written notice to Landlord no later than three (3) days prior to the then current expiration date with respect to the Second Temporary Premises. 
 4.       The Second Temporary Premises shall be leased by Landlord to Tenant in its “AS- IS” condition. Neither Tenant, its employees, guests, contractors, or other parties in
the Second Temporary Premises at the invitation, request or on account of Tenant shall use, occupy, go into or otherwise be present in the remaining space of Landlord without Landlord’s prior consent. 
 5.       Tenant may run telephone and data wires to the Second Temporary Premises at Tenant’s expense.
Electrical and other utility usage in the Second Temporary Premises shall be subject to the limitations and requirements of electrical and utility usage which are set forth in the Lease for the original Premises. No electrical office equipment other
than personal computers, telephones, printers, copiers, facsimile machines, televisions, and tape machines may be located on or installed upon the Second Temporary Premises except with the prior written consent of Landlord, which may be withheld in
Landlord’s sole discretion. All installations of electrical lines and equipment shall be performed by Tenant in accordance with the requirements of the Lease with respect to such matters and applicable building codes and industry standards.
Upon termination of the Lease with respect to the Second Temporary Premises, Tenant shall return the Second Temporary Premises to Landlord in as good condition as at the commencement of the term of the Lease with respect to the Second Temporary
Premises, broom clean, and with all personal property removed from the Second Temporary Premises. Tenant shall repair any damage to the Second Temporary Premises at Tenant’s sole cost and expense. 
 6.       Fixed Minimum Rent for the Second Temporary Premises shall be payable on a monthly basis in the
amount of $4,032.00 per month, which is based upon an annualized rental rate of $16.80 per square foot. Fixed Minimum Rent shall be payable on the same day of the month as Fixed Minimum Rent is payable for the original Premises under the Lease. Rent
for the first month, if for a portion of the month only, shall be payable on the date of commencement of the lease for the Second Temporary Premises, and such rent shall be prorated for such initial month and each month of occupancy thereafter. In
amplification of the foregoing, the Fixed Minimum Rent payable with respect to the Second Temporary Premises for the month of March 2006 shall be $1,950.97 (equal to the sum of $4,032.00 multiplied by a fraction, the numerator of which is the number
of days of the Term occurring in March 2006 (15 days) and the denominator of which is 31). 
 7.
      Prior to commencement of the Lease with .respect to the Second Temporary Premises, Tenant shall furnish to Landlord a list of the persons who will occupy the Second Temporary Premises. 
 8.       The following provisions of the Lease shall not be applicable to the Second Temporary Premises:
Article II, Article III, Section 4.2, Section 4.4, and Exhibit C of the original Lease, and the provisions of all subsequent amendments. 

 3 
 9.     Except as otherwise set forth herein, the Lease remains unmodified and in full force and effect. 
 10.   This instrument contains the entire agreement of the parties and may not be amended or modified accept by an agreement in writing executed between the parties hereto. 

IN WITNESS WHEREOF, this instrument has been executed this 27th day of February, 2006. 
  

					
	LANDLORD:
	
	FERRARI PARTNERS, L.P.,
	a Georgia limited partnership
			
		 	By:	 	FERRARI MANAGEMENT COMPANY, LLC,
		 		 	a Georgia limited liability company, General Partner
	
	By: /s/ Chad M.
Ferrari                                        
        
	          Chad M. Ferrari, Partner
	
	TENANT:
	
	COUNTRY MUSIC TELEVISION, INC.,
	a Tennessee corporation
	
	By: /s/ Timothy
Stevenson                                        
    
	            Timothy Stevenson, Vice President – Real EstatePurchase and Sale Agreement (related to the Commerce Street Building)

 Exhibit 10.6 
  
  
 PURCHASE AND SALE AGREEMENT 
 330 Commerce Street 
 Nashville, Tennessee 
 BETWEEN 
 Ferrari Partners, L.P., a Georgia limited
partnership 
 AS SELLER 
 AND

 Wells Mid-Horizon Value-Added Fund I, LLC, 
 a Georgia limited liability company 
 AS PURCHASER 
  
  
 October 3, 2007

 TABLE OF CONTENTS 
  

							
	 	  	 	  	 	  	Page
			
	 1.
	  	 THE PROPERTY
	  	1
				
		  	 1.1
	  	 Description
	  	1
				
		  	 1.2
	  	 “As-Is” Purchase
	  	2
				
		  	 1.3
	  	 Agreement to Convey
	  	3
			
	 2.
	  	 PRICE AND PAYMENT
	  	3
				
		  	 2.1
	  	 Purchase Price
	  	3
				
		  	 2.2
	  	 Payment
	  	3
				
		  	 2.3
	  	 Closing
	  	4
			
	 3.
	  	 INSPECTIONS AND APPROVALS
	  	4
				
		  	 3.1
	  	 Inspections
	  	4
				
		  	 3.2
	  	 Title and Survey
	  	7
				
		  	 3.3
	  	 Contracts
	  	7
				
		  	 3.4
	  	 Permitted Encumbrances
	  	8
				
		  	 3.5
	  	 Purchaser’s Right to Terminate
	  	8
				
		  	 3.6
	  	 Delivery of Title Policy at Closing
	  	8
			
	 4.
	  	 SELLER’S COVENANTS FOR PERIOD PRIOR TO CLOSING
	  	9
				
		  	 4.1
	  	 Insurance
	  	9
				
		  	 4.2
	  	 Operation
	  	9
				
		  	 4.3
	  	 New Contracts
	  	9
				
		  	 4.4
	  	 New Leases
	  	9
				
		  	 4.5
	  	 Listing and Other Offers
	  	9
			
	 5.
	  	 REPRESENTATIONS AND WARRANTIES
	  	9
				
		  	 5.1
	  	 By Seller
	  	9
				
		  	 5.2
	  	 By Purchaser
	  	10
				
		  	 5.3
	  	 Mutual
	  	10
			
	 6.
	  	 COSTS AND PRORATIONS
	  	11
				
		  	 6.1
	  	 Purchaser’s Costs
	  	11
				
		  	 6.2
	  	 Seller’s Costs
	  	12
				
		  	 6.3
	  	 Prorations
	  	12
				
		  	 6.4
	  	 Taxes
	  	12

  

 -i- 

 TABLE OF CONTENTS 
 (continued) 
  

							
	 	  	 	  	 	  	Page
				
		  	 6.5
	  	 In General
	  	12
				
		  	 6.6
	  	 Purpose and Intent
	  	12
			
	 7.
	  	 DAMAGE, DESTRUCTION OR CONDEMNATION
	  	13
				
		  	 7.1
	  	 Material Event
	  	13
				
		  	 7.2
	  	 Immaterial Event
	  	13
				
		  	 7.3
	  	 Termination and Return of Deposit
	  	13
			
	 8.
	  	 NOTICES
	  	13
			
	 9.
	  	 CLOSING AND ESCROW
	  	14
				
		  	 9.1
	  	 Escrow Instructions
	  	14
				
		  	 9.2
	  	 Seller’s Deliveries
	  	15
				
		  	 9.3
	  	 Purchaser’s Deliveries
	  	15
				
		  	 9.4
	  	 Possession
	  	15
				
		  	 9.5
	  	 Insurance
	  	16
				
		  	 9.6
	  	 Notice Letters
	  	16
				
		  	 9.7
	  	 Post-Closing Collections
	  	16
			
	 10.
	  	 DEFAULT; FAILURE OF CONDITION
	  	16
				
		  	 10.1
	  	 Purchaser Default
	  	16
				
		  	 10.2
	  	 Seller Default
	  	16
				
		  	 10.3
	  	 Failure of Condition
	  	16
			
	 11.
	  	 MISCELLANEOUS
	  	17
				
		  	 11.1
	  	 Entire Agreement
	  	17
				
		  	 11.2
	  	 Severability
	  	17
				
		  	 11.3
	  	 Applicable law
	  	17
				
		  	 11.4
	  	 Assignability
	  	17
				
		  	 11.5
	  	 Successors Bound
	  	18

  

 -ii- 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	 	 	  	 Page

			
	 11.6
	 	 Breach
	  	18
			
	 11.7
	 	 No Public Disclosure
	  	18
			
	 11.8
	 	 Captions
	  	18
			
	 11.9
	 	 Attorneys’ Fees
	  	18
			
	 11.10
	 	 No Partnership
	  	18
			
	 11.11
	 	 Time of Essence
	  	18
			
	 11.12
	 	 Counterparts
	  	18
			
	 11.13
	 	 Recordation
	  	18
			
	 11.14
	 	 Proper Execution
	  	18
			
	 11.15
	 	 Tax Protest
	  	19
			
	 11.16
	 	 Survival and Limitation of Representations and Warranties; Seller’s Knowledge
	  	19
			
	 11.17
	 	 Time to Execute and Deliver
	  	19
			
	 11.18
	 	 No Processing
	  	19
			
	 11.19
	 	 Calculation of Time Periods
	  	20
			
	 11.20
	 	 Section 1031 Exchange
	  	20
			
	 11.21
	 	 Limitation of Liability
	  	

 LIST OF EXHIBITS 
  

			
	 Exhibit 1.1.1 Legal Description

	 Exhibit 1.1.3 Inventory of Personal Property

	 Exhibit 1.1.6 Schedule of Leases and Security Deposits

	 Exhibit 3.1.1 Due Diligence Documents

	 Exhibit 3.1.9 Form of Required Tenant Estoppel

	 Exhibit 3.1.10
	  	            Form of Required Landlord Estoppel
	 Exhibit 3.1.11
	  	            Form of Required REA Estoppel
	 Exhibit 3.3 Schedule of Contracts

	 Exhibit 9.2.1 Form of Special Warranty Deed

  

 -iii- 

 TABLE OF CONTENTS 
 (continued) 
  

			
	 	  	Page
	 Exhibit 9.2.2
	  	Form of Bill of Sale
	 Exhibit 9.2.3
	  	Form of Assignment and Assumption of Leases
	 Exhibit 9.2.4
	  	Form of Assignment and Assumption
	 Exhibit 9.2.6
	  	Form of FIRPTA Affidavit
	 Exhibit 9.2.7
	  	Form of Tenant Notice Letter
	 Exhibit 11.16
	  	Audit Letter

  

 -iv- 

 TERM SHEET 
  

			
	 PURCHASER:
	  	 Wells Mid-Horizon Value-Added Fund I,

		  	 LLC, a Georgia limited liability company

		
	 NOTICE ADDRESS:
	  	 6200 The Corners Parkway

		  	 Suite 250

		  	 Atlanta, GA 30092

		  	 Attention: Keith Willby, Senior Vice

		  	     President

		  	 Phone: (770) 243-8446

		  	 Fax: (770) 243-8199

		
	 With a copy to:
	  	 McGuireWoods, LLP

		  	 1170 Peachtree Street, Suite 2100

		  	 Atlanta, Georgia 30309

		  	 Attention: Stephen D. Peterson

		  	 Phone: (404) 443-5719

		  	 Fax: (404) 443-5764

		
	 SELLER:
	  	 Ferrari Partners, L.P.

		
		  	 NOTICE ADDRESS:

		  	 357 Riverside Drive, Suite 230A

		  	 Franklin, TN 37064

		  	 Attention: Chad M. Ferrari

		  	 Phone: (615) 591-2727

		  	 Fax: (615) 591-2722

		
	 With a copy to:
	  	 Gullett, Sanford, Robinson, and Martin

		  	 PLLC

		  	 315 Deaderick Street, Suite 1100

		  	 P.O. Box 198888

		  	 Nashville, TN 37219-8888

		  	 Attention: Wesley D. Turner

		  	 Phone: (615) 244-4994

		  	 Fax: (615) 256-6339

		
	 PROPERTY:
	  	 330 Commerce Street

		  	 Nashville, Tennessee

		
	 PURCHASE PRICE:
	  	 $14,150,000.00

		
	 APPROVAL DATE:
	  	 Thirty (30) days after the Effective Date

		  	 hereof

		
	 CLOSING DATE:
	  	 Forty-five (45) days after the Effective Date hereof

 PURCHASE AND SALE AGREEMENT 
 THIS PURCHASE AND SALE AGREEMENT (the “Agreement”), dated as of the          day of October, 2007 (the “Effective Date”), is made by
and between Ferrari Partners, L.P., a Georgia limited partnership (“Seller”), and Wells Mid-Horizon Value-Added Fund I, LLC, a Georgia limited liability company (“Purchaser”). 
 RECITALS: 
 Seller desires to sell certain
improved real property commonly known as 330 Commerce Street, Nashville, Tennessee, along with certain related personal and intangible property, and Purchaser desires to purchase such real, personal and intangible property. 
 NOW, THEREFORE, in consideration of the foregoing, of the covenants, promises and undertakings set forth herein, and for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, Seller and Purchaser agree as follows: 
  

	1.	 THE PROPERTY. 

 1.1
  Description.   Subject to the terms and conditions of this Agreement, and for the consideration herein set forth, Seller agrees to sell and transfer, and Purchaser agrees to purchase and acquire, all of Seller’s
right, title, and interest in and to the following (collectively, the “Property”): 
 1.1.1    Certain air
rights consisting of approximately 3,200,912 cubic feet lying directly above a site containing .71 acres of real property (such air rights being hereafter referred to as the “Air Rights”) located in Nashville, Tennessee and more
specifically described in Exhibit 1.1.1 attached hereto, which includes four (4) floors of office space together with two (2) floors of the nine (9) story parking garage located underneath the Air Rights space; 
 1.1.2    The building consisting of a four story office tower with approximately 118,082 square feet of net rentable area and the top
two levels of a nine story parking garage consisting of 136 parking spaces and such other buildings, parking areas, improvements, and fixtures of any nature erected within the Air Rights, including, but not limited to, all ventilating and air
conditioning systems, plumbing systems and electrical systems, other than any improvements or fixtures which are the property of tenants (the “Improvements”); 
 1.1.3    All of Seller’s interest and obligations as assignee of the lessee under Lease Agreement (the “Lobby Lease”) for space located at the street level of 330 Commerce
Street, Nashville, Davidson County, Tennessee 

  

 1 

 
from Commerce Street Venture to Linville Properties Company as evidenced by Memorandum of Lease of record in Book 6739, page 374, recorded in Book 6740, page 822, and
further recorded in Book 7075, page 517, Register’s Office for Davidson County, Tennessee, as subsequently assigned to Seller; 
 1.1.4    All of the Seller’s interest and obligations as assignee of the lessee under Lease Agreement (the “Retail Lease”) for approximately 2,195 square feet of space located on the ground floor of 330
Commerce Street, Nashville, Davidson County, Tennessee, not of record, which interest is subleased to Country Music Television, Inc. 
 1.1.5    All furniture, personal property, machinery, apparatus, and equipment now owned or hereafter acquired by Seller prior to the Closing Date and used in the operation, repair, management and maintenance of the Air Rights and
Improvements and situated thereon (collectively, the “Personal Property”), including, but not limited to the items generally described on Exhibit 1.1.3 attached hereto; 
 1.1.6    All rights of Seller under the reciprocal easement for ingress and egress, parking, utilities and support contained in the
Reciprocal Easement Agreement of records in Book 6739, page 331, and recorded in Book 6740, page 775, Register’s Office for Davidson County, Tennessee (the “REA”); 
 1.1.7    Any (i) private rights of way serving or appurtenant to the Air Rights, and (ii) any allocations of floor area ratio
or density attributed or appurtenant to the Air Rights; 
 1.1.8    That certain tenant lease with Country Music Television,
Inc. as tenant (the “Tenant”) for approximately 86,017 square feet in the Property dated March 4, 2002, as amended, together with any other occupancy agreements, including those in effect on the date of this Agreement which are
identified on the Schedule of Leases (herein so called) attached hereto as Exhibit 1.1.8, and any new leases entered into pursuant to Section 4.4, which as of the Closing (as hereinafter defined) affect all or any portion of the
Air Rights or Improvements, including any guarantees, deposits and escrows (and any interest thereon) and prepaid rents relating to or serving as security therefore and any files kept by Seller in connection therewith (the
“Leases”); 
 1.1.9    Subject to Section 3.3, all contracts and agreements relating to the
operation or maintenance of the Air Rights, Improvements or Personal Property as of the Closing Date pursuant to the terms of this Agreement; 
 1.1.10    All rights of Seller in the name “330 Commerce Street” and all other tradenames, trademarks, servicemarks and logos used in connection with the ownership, operation and maintenance of the Property;

  

 2 

 1.1.11    All rights of Seller in all licenses, franchises, permits, authorizations and
approvals used in or relating to the ownership, occupancy or operation of the Air Rights, Improvements and Personal Property (the “Permits”); 
 1.1.12    Any guaranties or warranties in favor of Seller, now or hereafter in effect, arising out of, or issued, whether express or implied, relating to the construction, operation and
maintenance of the Improvements or Personal Property, or arising out of, made, given or issued, by manufacturers or suppliers, in conjunction with the Improvements or the Personal Property (collectively, the “Warranties”); and

 1.1.13    All of Seller’s right, title, interest, powers, privileges, benefits, and options of Seller or otherwise
accruing to the owner of the land, allocable to the Property, including, but not limited to any development rights, floor area ratio allocations, lot coverage allocations, allocations of development density, zoning rights or other rights allocated
to or attributable to the Property (the “Development Rights”). 
 1.2    Agreement to Convey.
  Seller agrees to convey, and Purchaser agrees to accept (a) title to the Air Rights and Improvements by Special Warranty Deed subject only to the Permitted Exceptions; (b) title to the Personal Property, by Bill of Sale,
without warranty as to the condition of such personalty but containing warranties of title free and clear of all liens and encumbrances, subject only to the Permitted Exceptions; and (c) the Leases, the Retail Lease, the Lobby Lease and
security deposits, Permits, Warranties, all rights of Seller in the name 330 Commerce Street and any other rights of Seller in intangible property related to the Air Rights, the Improvements, Personal Property and Development Rights by
assignment. 
  

	2.	 PRICE AND PAYMENT. 

 2.1
  Purchase Price.   The purchase price for the Property (the “Purchase Price”) is FOURTEEN MILLION ONE HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS ($14,150,000.00) U.S. 
 2.2   Payment.   Payment of the Purchase Price is to be made in cash as follows: 
 2.2.1    Purchaser shall make an earnest money deposit with the Title Company of ONE HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS
($150,000.00) (the “Initial Deposit”) within two (2) business days of the execution of this Agreement. In addition, if this Agreement is not timely terminated by Purchaser under Section 3.5 hereof, Purchaser shall
deposit with the Title Company an additional earnest money deposit of ONE HUNDRED FIFTY THOUSAND AND NO/100 Dollars ($150,000.00) (the “Additional Deposit”) on or before two (2) business days after the Approval Date. The
Initial Deposit and, if 

  

 3 

 
deposited, the Additional Deposit are referred to in this Agreement as the “Deposit”. 
 2.2.2    The Deposit will be placed with and held in escrow by Fidelity National Title Insurance Company 22 Century Boulevard, Suite
200, 3 Lakeview Place, Nashville, TN 37214, Attention: Lynn Hammond (the “Title Company”), in immediately available funds in an interest-bearing account at a mutually acceptable banking institution. Any interest earned by the
Deposit shall be considered as part of the Deposit. Except as otherwise provided in this Agreement, the Deposit will be applied to the Purchase Price at Closing. 
 2.2.3    In the event the Purchaser terminates this Agreement pursuant to its terms the Title Company shall deliver the Deposit to Purchaser less and except ONE HUNDRED AND NO/100 DOLLARS
($100.00) (the “Independent Contract Consideration”), which amount shall be delivered to Seller for the bargained for and agreed to as consideration for Seller’s execution and delivery of this Agreement. The Independent
Contract Consideration shall be non-refundable when paid and Seller shall retain the Independent Contract Consideration notwithstanding any other provision of this Agreement to the contrary. 
 2.2.4    At Closing, Purchaser shall pay Seller the balance of the Purchase Price, subject to adjustment for the prorations as provided
herein, to the Title Company for disbursement to Seller via wire transfer in immediately available funds. 
 2.3
  Closing.   Payment of the Purchase Price, delivery of the Special Warranty Deed and the other closing deliveries required to be made pursuant to Section 9 hereof and the consummation of the purchase and sale
transaction contemplated hereunder (the “Closing”) will take place pursuant to an escrow closing on or before the date which is fifteen (15) days after the Approval Date (the “Closing Date”). The Closing will
take place at the offices of the Title Company or at such other time and place as may be agreed upon in writing by Seller and Purchaser. Closing shall occur through an escrow with the Title Company. Funds shall be deposited into and held by the
Title Company in a closing escrow account with a bank satisfactory to Purchaser and Seller. Upon satisfaction or completion of all closing conditions and deliveries, the parties shall direct the Title Company to immediately record and deliver the
closing documents to the appropriate parties and make disbursements according to the closing statements executed by Seller and Purchaser. 
  

	3.	 INSPECTIONS AND APPROVALS. 

 3.1    Inspections. 
 3.1.1    Commencing on the Effective Date through the Closing Date, Seller
agrees to allow Purchaser and Purchaser’s engineers, architects, 

  

 4 

 
employees, contractors, agents and representatives (“Purchaser’s Agents”) reasonable access, during normal business hours, to the Property and to
the records, if any, maintained by Seller or for Seller by Seller’s property management company. Such access shall be for the purposes of (i) reviewing Leases and Service Contracts and any other records relating to the Property;
(ii) reviewing records relating to the income and operating expenses; (iii) inspecting the physical condition of the Property, conducting non-intrusive physical or environmental inspections of the Property and subject to Seller’s
written consent, which consent may be granted or withheld in Seller’s reasonable discretion, conducting intrusive tests and inspections if deemed reasonably necessary by Purchaser based on Purchaser’s preliminary physical and environmental
inspections of the Property and such intrusive tests are approved by Seller, and (iv) conducting such other studies or inspections as Purchaser deems necessary or desirable. Prior to Seller’s execution of this Agreement, Seller has
delivered to Purchaser and Purchaser acknowledges receipt of copies of the items described on Exhibit 3.1.1 hereof (collectively, the “Due Diligence Documents”). 
 3.1.2    Purchaser agrees that, in making any physical or environmental inspections of the Property, Purchaser and all of
Purchaser’s Agents entering onto the Property shall carry not less than One Million Dollars ($1,000,000) comprehensive general liability insurance insuring all activity and conduct of Purchaser and such representatives while exercising such
right of access and naming Seller as an additional insured. Purchaser represents and warrants that it carries not less than One Million Dollars ($1,000,000) commercial general liability insurance with contractual liability endorsement which insures
Purchaser’s indemnity obligations hereunder, and will provide Seller with written evidence of same prior to entry on the Property. 
 3.1.3    Purchaser agrees that in exercising its right of access hereunder, Purchaser will use and will cause Purchaser’s Agents to use commercially reasonable efforts not to unreasonably interfere with the activities of
tenants or other persons occupying or providing service at the Property. Purchaser shall, at least twenty-four (24) hours prior to the inspection, give Seller notice of its intention to conduct any inspections. 
 3.1.4    Unless Seller specifically and expressly otherwise agrees in writing, Purchaser agrees that: (a) the results of all
inspections, analyses, studies and similar reports relating to the Property prepared by or for Purchaser utilizing any information acquired in whole or in part through the exercise of Purchaser’s inspection rights; and (b) all information
(the “Proprietary Information”) regarding the Property of whatsoever nature made available to Purchaser by Seller or Seller’s agents or representatives is confidential and shall not be disclosed to any other person except those
employees, agents, advisors, attorneys, consultants assisting Purchaser with the transaction, or Purchaser’s lender, if any. Purchaser agrees not to use or allow to be used any such information for any purpose other than to determine whether to
proceed with the contemplated purchase, or if same is consummated, in connection with the operation of the Property post-Closing, 

  

 5 

 
including, but not limited to the management, obtaining financing, or the Sale of the Property. Further, if the purchase and sale contemplated hereby fails to close
for any reason whatsoever, Purchaser agrees to return to Seller, or cause to be returned to Seller, all Proprietary Information. Notwithstanding any other term of this Agreement, the provisions of this Section 3.1.4 shall survive Closing
or the termination of this Agreement. Notwithstanding the foregoing, (AA) Purchaser shall be permitted to disclose the Proprietary Information and any information obtained pursuant, to clause (a) of this Section 3.1.4: (i) to any governmental authority, if required by any law, rule, or regulation, or any subpoena, interrogatory, civil investigation, demand, or similar process
applicable to us, or (ii) pursuant to the order of any court of competent jurisdiction requiring such disclosure; (BB) the Proprietary Information and any information obtained pursuant to clause (a) of this Section 3.1.4 shall
not be deemed to include any information that is a matter of public record, information that can readily be obtained in the marketplace, is generally known to industry experts or is disclosed by Seller and is not subject to a confidentiality
agreement. 
 3.1.5   Purchaser shall, at its sole cost and expense, promptly restore any physical damage or alteration of
the physical condition of the Property which results from any inspections conducted by or on behalf of Purchaser. All inspections shall be conducted at Purchaser’s sole cost and expense and in strict accordance with all requirements of
applicable law. 
 3.1.6   Except as specifically set forth in this Agreement, Seller makes no representations or warranties
as to the accuracy or methodology of preparation concerning any engineering or environmental reports or any other materials, data or other information supplied to Purchaser in connection with Purchaser’s inspection of the Property. It is the
parties’ express understanding and agreement that any materials which Purchaser is allowed to review are provided only for Purchaser’s convenience in making its own examination and determination prior to the Approval Date as to whether it
wishes to purchase the Property, and, in doing so, Purchaser shall rely exclusively on its own independent investigation and evaluation of every aspect of the Property and not on any materials supplied by Seller. Purchaser expressly disclaims any
intent to rely on any such materials provided to it by Seller in connection with its inspection and agrees that it shall rely solely on its own independently developed or verified information. 
 3.1.7   PURCHASER AGREES (WHICH AGREEMENT SHALL SURVIVE CLOSING OR TERMINATION OF THIS AGREEMENT) TO INDEMNIFY, DEFEND, AND HOLD SELLER
FREE AND HARMLESS FROM ANY LOSS, INJURY, DAMAGE, CLAIM, LIEN, COST OR EXPENSE, INCLUDING ATTORNEYS’ FEES AND COSTS, ARISING OUT OF A BREACH OF THE FOREGOING AGREEMENTS BY PURCHASER IN CONNECTION WITH THE INSPECTION OF THE PROPERTY, OR OTHERWISE
FROM THE EXERCISE BY PURCHASER OR PURCHASER’S AGENTS OF THE RIGHT OF ACCESS UNDER THIS SECTION 3.1 EXCEPT ANY SUCH LOSS, INJURY, 

  

 6 

 
DAMAGE, CLAIM, LIEN, COST OR EXPENSE ARISING OUT OF THE NEGLIGENCE OR INTENTIONAL ACTS OF SELLER, ITS AGENTS AND EMPLOYEES (COLLECTIVELY, “PURCHASER’S
INDEMNITY OBLIGATIONS”). THIS SECTION 3.1.7 SHALL SURVIVE CLOSING OR THE TERMINATION OF THIS AGREEMENT. 
 3.1.8
  Purchaser shall keep the Property free from any liens arising out of any work performed, materials furnished or obligations incurred by or on behalf of Purchaser or Purchaser’s Agents with respect to any inspection or testing of the
Property. If any such lien at any time shall be filed, Purchaser shall cause the same to be discharged of record within thirty (30) days thereafter by satisfying the same or, if Purchaser, in its discretion and in good faith determines that
such lien should be contested, by recording a bond, which removes such lien as a matter of law. 
 3.1.9   Seller agrees to
submit or cause its property manager to submit to Tenant (and any other tenant under a Lease in the event a new Lease is executed pursuant to Section 4.4 hereof) a request for Tenant to execute and deliver a tenant estoppel certificate to
Purchaser with respect to its Lease in the form attached hereto as Exhibit 3.1.9. It shall be a condition precedent to Purchaser’s Closing obligations that Purchaser receives a tenant estoppel certificate from Tenant and any new tenant (the
“Required Tenant Estoppel”) in the form of the estoppel certificate attached as Exhibit 3.1.9. If Purchaser does not receive the Required Tenant Estoppel on or before the Closing Date, Seller may extend the Closing Date up to fourteen
(14) days to allow Seller to obtain the Required Tenant Estoppel. If Purchaser does not receive the Required Tenant Estoppel on or before the expiration of such fourteen (14) day period, if applicable, Purchaser may either
(i) terminate this Agreement in writing delivered to Seller on or before the Closing Date, in which event the Deposit shall be returned to Purchaser and neither party shall have any further obligations hereunder other than those which expressly
survive the Closing or earlier termination of this Agreement, (ii) extend the Closing Date for another period not the exceed fourteen (14) days, or (iii) waive the foregoing condition precedent and proceed to Closing. 
 3.1.10   Seller agrees to submit or cause its property manager to submit to the landlords under the Lobby Lease and Retail Lease a
request for the landlords to execute and deliver a landlord estoppel certificate to Purchaser with respect to the Retail Lease and Lobby Lease in the form attached hereto as Exhibit 3.1.10. It shall be a condition precedent to Purchaser’s
Closing obligations that Purchaser receives a landlord estoppel certificate from the landlords under the Retail Lease and Lobby Lease (the “Required Landlord Estoppels”) in the form of the estoppel certificate attached as Exhibit 3.1.10.
If Purchaser does not receive the Required Landlord Estoppels on or before the Closing Date, Seller may extend the Closing Date up to fourteen (14) days to allow Seller to obtain the Required Landlord Estoppels. If Purchaser does not receive
the Required Landlord Estoppels on or before the expiration of such 

  

 7 

 
fourteen (14) day period, if applicable, Purchaser may either (i) terminate this Agreement in writing delivered to Seller on or before the Closing Date, in
which event the Deposit shall be returned to Purchaser and neither party shall have any further obligations hereunder other than those which expressly survive the Closing or earlier termination of this Agreement, (ii) extend the Closing Date
for another period not the exceed fourteen (14) days, or (iii) waive the foregoing condition precedent and proceed to Closing. 
 3.1.11   Seller agrees to submit or cause its property manager to submit to the Declarant and Venture (as defined in the REA) a request for an estoppel certificate with respect to the REA in the form attached hereto as Exhibit
3.1.11. It shall be a condition precedent to Purchaser’s Closing obligations that Purchaser receives an REA estoppel certificate (the “Required REA Estoppel”) in the form of the estoppel certificate attached as Exhibit 3.1.11. If
Purchaser does not receive the Required REA Estoppel on or before the Closing Date, Seller may extend the Closing Date up to fourteen (14) days to allow Seller to obtain the Required REA Estoppel. If Purchaser does not receive the Required REA
Estoppel on or before the expiration of such fourteen (14) day period, if applicable, Purchaser may either (i) terminate this Agreement in writing delivered to Seller on or before the Closing Date, in which event the Deposit shall be
returned to Purchaser and neither party shall have any further obligations hereunder other than those which expressly survive the Closing or earlier termination of this Agreement, (ii) extend the Closing Date for another period not the exceed
fourteen (14) days, or (iii) waive the foregoing condition precedent and proceed to Closing. 
 3.1.12   It shall
be a condition precedent to Purchaser’s Closing obligations that Seller obtain the requisite consents for the assignment of the Retail Lease and Lobby Lease in a form reasonably acceptable to Purchaser. 
 3.1.13   It shall be a condition precedent to Purchaser’s Closing obligations that Seller obtain a fully executed and recordable
amendment to the REA resolving ambiguities regarding the nature of the Air Rights as a leasehold interest in a form reasonably acceptable to Purchaser. 
 3.2   Title and Survey.   Upon the complete execution of this Agreement by both Seller and Purchaser, Seller shall order a commitment for title insurance on the Air Rights and appurtenant rights under
the REA, together with copies of all items shown as exceptions to title therein, issued by the Title Company, a copy of which shall be delivered to Seller (the “Title Commitment”). Prior to the execution of this Agreement, Seller
shall have delivered a copy of Seller’s existing survey of the Air Rights (the “Survey”). Purchaser shall have until the Approval Date to provide written notice to Seller of any matters shown by the Title Commitment or Survey
which are not satisfactory to Purchaser, which notice (the “Title Notice”) must specify the reason such matter(s) are not satisfactory and the curative steps necessary to remove the objections stated in the Title Notice. Within ten
(10) business days following Seller’s receipt of the Title 

  

 8 

 
Commitment and underlying exception documents, Seller shall deliver to Purchaser an update to the Survey, certified to Purchaser and certified to a current date (the
“Updated Survey”). If the Updated Survey or Survey reveals any matter which is not satisfactory to Purchaser, Purchaser shall deliver notice (the “Survey Notice”) to Seller on or prior to five (5) business days
after Purchaser’s receipt of the Updated Survey (the objections stated in the Title Notice and the Survey Notice are herein collectively called the “Title Objections”). The parties shall then have until ten (10) days after
the five (5) business days after Purchaser’s receipt of the Updated Survey, as hereinafter defined (the “Cure Date”) to make such arrangements or take such steps as they shall mutually agree to satisfy the Title
Objections. Except as set forth in this Section 3.2, in the event Seller and Purchaser fail to make arrangements with respect to any matter set forth in a Title Notice, Purchaser’s sole right with respect to any Title Objection shall be to
elect on or before the Closing Date to terminate this Agreement (other than continuing obligations under Sections 3.1.4 and 3.1.7 that survive the Closing or termination of this Agreement) (herein called the “Surviving
Obligations”) and to receive a refund of the Deposit. All matters shown on the Title Commitment and/or Survey and Updated Survey with respect to which Purchaser fails to give a Title Notice on or before the last date for so doing, or with
respect to which a timely Title Notice is given but Seller fails to undertake an express obligation to cure as provided above, shall be deemed to be approved by Purchaser and a “Permitted Encumbrance” as provided in
Section 3.4 hereof, subject, however, to Purchaser’s termination right provided in Section 3.5 hereof. 
 Notwithstanding the foregoing, and without the requirement that any Title Notice be given by Purchaser, Seller hereby agrees as follows: (i) On the Closing Date, to deliver to the Title Company all appropriate substantiation of the
existence, good standing, power and authority of Seller; (ii) on the Closing Date, to deliver to the Title Company all appropriate substantiation (including commercially standard seller affidavits) sufficient in order to delete exceptions based
upon rights or claims of parties in possession, other than tenants and occupants under Leases in effect as of the Closing Date, exceptions for mechanics liens, exceptions for any gap between the effective date of the any title commitment issued to
Purchaser and the Closing Date; (iii) on the Closing Date, (x) to pay and satisfy in full and release of record any and all mortgage or deed of trust liens granted by Seller and all delinquent real estate taxes, together with any and all
interest and penalties thereon, and (y) to pay and satisfy in full, or otherwise cause to be affirmatively insured (either by obtaining a full release of record of, or bonding over, indemnifying or escrowing with the Title Company),
mechanics’ and materialmen’s liens and/or notices of liens filed against the Property or any portion of the Property and arising out of work performed or materials supplied for or on behalf of Seller, and other monetary judgments and/or
actions at law against Seller and constituting a lien against the Property or any portion of the Property other than any lien for current year’s taxes not yet due and payable, it being understood that Seller may apply the Purchase Price, or any
portion thereof to satisfy Seller’s obligations under this clause (iii) (collectively, the “Unpermitted Exceptions”) and Purchaser shall have all 

  

 9 

 
remedies at law and in equity to require Seller to remove the Unpermitted Exceptions. 
 3.3   Contracts.   Purchaser shall assume at Closing all of the service, maintenance, supply or other contracts relating to the operation of the Property, which are identified on
Exhibit 3.3 attached hereto. 
 3.4   Permitted Encumbrances.   Unless Purchaser terminates this
Agreement (a) pursuant to Sections 3.2 or 3.5 hereof following its opportunity fully to inspect the Property, the state of title thereto and all other matters relating to the Property, including its feasibility for
Purchaser’s intended use and its suitability as an investment, or (b) pursuant to any other express right of termination in favor of Purchaser under this Agreement, Purchaser shall be deemed to have approved and to have agreed to purchase
the Property subject to the following: 
 3.4.1   All exceptions to title shown in the Title Commitment or matters shown on
the Survey which Purchaser has approved or is deemed to have approved pursuant to Section 3.2 hereof; 
 3.4.2
  All contracts and leases which Purchaser has approved or is deemed to have approved pursuant to Sections 3.3, 4.3 and 4.4 hereof; 
 3.4.3   The lien of non-delinquent real and personal property taxes and assessments; and 
 3.4.4   Rights of parties in possession pursuant to the Leases. 
 All of the foregoing are referred to herein
collectively as “Permitted Encumbrances.” 
 3.5   Purchaser’s Right to Terminate.
  If, as a result of its various investigations, Purchaser determines in its sole and absolute discretion, that the Property is not a suitable investment for its purposes for any reason or no reason, Purchaser shall have the right by
giving Seller written notice (the “Termination Notice”) on or before the date which is thirty (30) days after the Effective Date (the “Approval Date”) to terminate this Agreement. If the Termination Notice is
timely given, Seller shall direct the Title Company to promptly return the Deposit to Purchaser and neither party shall have any further liability hereunder except for the Surviving Obligations. If the Termination Notice is not given, Purchaser
shall have no further right to terminate this Agreement except for any other express rights of termination in favor of Purchaser hereunder. Purchaser shall have the right to deliver the Termination Notice for any reason or for no reason, in
Purchaser’s sole and absolute discretion. 
 3.6   Delivery of Title Policy at Closing.   As a
condition to Purchaser’s obligation to close, the Title Company shall deliver to Purchaser at Closing an ALTA Owner’s Policy of Title Insurance in the form approved by Purchaser (the 

  

 10 

 
“Title Policy”) issued by the Title Company as of the date and time of the recording of the Deed, in the amount of the Purchase Price, insuring
Purchaser as owner of indefeasible fee simple title to the Property, and subject only to the Permitted Exceptions. Seller shall execute at Closing an affidavit in such form as the Title Company shall reasonably require for the issuance of the Title
Policy or “marked-up” Title Commitment, including, but not limited to extended coverage, removal of the standard exceptions and gap indemnity. The Title Policy may be delivered after the Closing if at the Closing the Title Company issues a
currently effective, duly executed “marked-up” Title Commitment and irrevocably commits in writing to issue the Title Policy in the form of the “marked-up” Title Commitment promptly after the Closing Date. 
  

	4.	 SELLER’S COVENANTS FOR PERIOD PRIOR TO CLOSING. 

 Until Closing, Seller or Seller’s agent shall: 
 4.1   Insurance.
  Keep the Property insured under its current policies against fire and other hazards covered by extended coverage endorsement and commercial general liability insurance against claims for bodily injury, death and property damage occurring
in, on or about the Property. 
 4.2   Operation.   Keep and perform or cause to be performed all of the
obligations of Seller as lessor under the Leases and under the Service Contracts; operate and maintain the Property in accordance with Seller’s past practices with respect to the Property, normal wear and tear excepted including, but not
limited to, maintaining the Improvements in accordance with the Leases and performing regulatory scheduled maintenance of the Property (collectively, the “Legal Requirements”). 
 4.3   New Contracts.   Enter into only
those third-party contracts which are necessary to carry out its obligations under Section 4.2 and which shall be cancelable on thirty (30) days written notice at no cost to Purchaser. If Seller enters into any such contract, it
shall promptly provide written notice thereof to Purchaser and unless Purchaser, within ten (10) business days thereafter, notifies Seller in writing of its intention to not assume such contract, it shall be treated as a contract approved by
Purchaser under Section 3.3 hereof. 
 4.4   New Leases.   From the Effective Date to the
Approval Date (and thereafter until the Closing unless this Agreement is terminated by Purchaser on or before the Approval Date), Seller shall not enter into, terminate, amend, waive any rights under, or extend the terms of any Leases (collectively,
“Lease Modifications”) without the express written consent of Purchaser and if Seller desires to enter into any Lease Modifications, Seller shall promptly provide written notice thereof to Purchaser, which notice shall include a
copy of such proposed Lease Modification, and unless Purchaser, within ten (10) business days thereafter, notifies Seller in writing of its approval of such Lease Modifications, such Lease 

  

 11 

 
Modifications shall be deemed disapproved by Purchaser. 
 4.5   Listing and Other Offers.   From the date hereof until the earlier of termination of this Agreement or the Closing Date, Seller will not list the Property with any Broker or otherwise solicit or make or
accept any offers to sell the Property or enter into any contracts or agreements regarding any disposition of all or any portion of the Property or any interest therein. 
 4.6   Change in Status.   In the event that, between the Effective Date and the Closing Date, Seller becomes aware that any of the representations and warranties set forth in
this Agreement, including without limitation Section 5.1, are no longer true and correct, Seller shall promptly notify Purchaser in writing. 
  

	5.	 REPRESENTATIONS AND WARRANTIES. 

 5.1   By Seller.   Seller represents and warrants to Purchaser as follows: 
 5.1.1
  Seller is a limited partnership duly organized and validly existing under the laws of the State of Georgia, has full power and authority to execute and deliver this Agreement and to perform the obligations of Seller hereunder, and the
person executing this Agreement on behalf of Seller has been authorized to execute this Agreement on behalf of Seller. The execution and delivery by Seller of, and the performance and compliance by Seller with, the terms and provisions of this
Agreement do not violate any term, condition or provision of (i) Seller’s organizational or governing documents, (ii) any judgment, order, injunction, decree, regulation or ruling of any court or other governmental authority to which
Seller is subject, or (iii) any agreement, contract or covenant to which Seller is a party or is bound, or to which the Property is subject. No consent, waiver or approval by any third party, which heretofore has not been obtained, is required
in connection with the execution and delivery of this Agreement by Seller or the performance of the obligations to be performed under this Agreement by Seller. 
 5.1.2   The performance of this Agreement will not result in any breach of, or constitute any default under, or result in the imposition of any lien or encumbrance upon the Property under, any
agreement to which Seller is a party. 
 5.1.3   As of the date hereof, there is no judicial, administrative or other
adversarial suit, action or proceeding pending or, to the knowledge of Seller, threatened, which in any instance would bind the Property or the Purchaser, or adversely affect Seller’s ability to convey the Property to Purchaser as required by
this Agreement. 
 5.1.4   Seller has no knowledge of any governmental requirements (including Environmental Laws as
hereinafter defined) on the Property, which has not been remedied; except for paints, commercial cleaning agents and other substances ordinarily used In the repair, maintenance or operation of the 

  

 12 

 
Property, (1) Seller has not used the Property and, to the knowledge of Seller, the Property has not been used for, the storage, manufacture, treatment or
disposal of “Hazardous Substances,” (ii) to the knowledge of Seller, no Hazardous Substances requiring remediation or removal are located on, in or under the Property, and (iii) no action under any “Environmental Laws”
has been taken against Seller. As used herein, “Hazardous Substances” means all materials subject to regulation under the Comprehensive Environmental Response, Compensation, and Liability Act, 42 U.S.C. §§6901 et
seq., the Resource Conservation and Recovery Act, 42 U.S.C. §§6901 et seq., the Toxic Substance Control Act, 15 U.S.C. §§2601 et seq., or any other applicable federal, state or local law or
regulation now in force or hereafter enacted relating to materials having adverse effects on human health or the environment, and includes, but is not limited to, asbestos, polychlorinated biphenyls (PCBs), petroleum products and lead-based paints.
All such laws relating to hazardous waste disposal and toxic substances are collectively referred to herein as “Environmental Laws.” 
 5.1.5   To the knowledge of Seller, as of the date hereof, there are no pending or contemplated condemnation or eminent domain proceedings (or process or purchase in lieu thereof) affecting the Property or any part
thereof. 
 5.1.6   Seller has not received, with respect to the Property, written notice from any governmental authority
regarding any change to the zoning classification or proceedings to widen or realign any street or highway adjacent to the Property. 
 5.1.7   The list of Service Contracts to be delivered to Purchaser pursuant to this Agreement will be true, correct and complete as of the date of delivery. To Seller’s knowledge, all Service Contracts are in full force and
effect and no party is in default thereunder and Seller shall not modify or amend, or terminate any Service Contract other than for cause, or enter into any other agreement for comparable services for the benefit of the Property without in each
instance first obtaining the prior written consent of Purchaser, which consent shall be granted if such agreement may be terminated upon thirty (30) days prior notice by owner and without the imposition of a termination fee or penalty, and
otherwise shall not be unreasonably withheld, conditioned or delayed. 
 5.1.8   Seller is not a “foreign person”
within the meaning of Sections 1445 and 7701 the Internal Revenue Code of 1986, as amended (hereinafter, the “Code”). 
 5.1.9   Except for those tenants in possession of the Property under written leases for space in the Property, as shown in the schedule of Leases attached hereto as Exhibit 1.1.8, there are no parties in possession of, or
claiming any possession to, any portion of the Air Rights and Improvements. Attached to this Agreement as Exhibit 1.1.8 is a true and complete list of all Leases in effect as of the date hereof with respect to the Property, together with the
most recent rent roll for the Property, showing, inter alia, a full, complete and 

  

 13 

 
accurate list of tenants, current Rents, security deposits, prepaid Rents and Rent delinquencies, and unpaid leasing commissions. The rent roll is true, accurate and
complete in all material respects. Except as set forth on Exhibit 1.1.8 to this Agreement, as of the date hereof, (1) Seller is the owner of the lessor’s interest in all such Leases, (ii) except as set forth in such Exhibit,
Seller has not modified any Lease or consented to any assignment or sublease of any Lease and, to the knowledge of Seller, no Lease has been modified, assigned or sublet in any respect, (iii) Seller has performed all material obligations on the
part of the landlord to be performed under each such Lease, and there are no agreements with any tenant for the performance of any work or otherwise with respect to any matter, (iv) Seller heretofore has completed all tenant improvements
required under such Leases to be constructed by Seller, (v) except as set forth in the Leases, no tenant has any option to purchase the Property, to lease additional space in the Property, to extend the term of such tenant’s Lease, to put
back to the landlord any space currently subject to such tenant’s Lease, or to terminate such tenant’s Lease and Exhibit 1.1.8 correctly sets forth the status of any option, right of first refusal or right of first offer to purchase
the Property, to lease additional space in the Property or to extend the term of such tenant’s lease, (vi) no notice of default has been given or received by Seller with respect to any Lease within the preceding ninety (90) days, and
no tenant otherwise is in monetary default or, to the knowledge of Seller, is in nonmonetary default under its Lease, and (vii) no tenant has paid rent for more than one month in advance. 
 5.1.10   As of the date hereof, (i) Seller is the owner of the lessee’s interest in the Retail Lease and Lobby Lease,
(ii) Seller has not modified the Retail Lease or Lobby Lease or consented to any assignment or sublease thereof except for Seller’s sublease of the Retail Lease to Country Music Television, Inc., (iii) Seller has performed all
material obligations on the part of the lessee to be performed under the Lobby Lease and Retail Lease, and (iii) no notice of default has been given or received by Seller with respect to the Lobby Lease or Retail Lease. 
 5.1.11   As of the date hereof, (i) Seller is the owner of the Seller’s interest in the REA, (ii) Seller has not modified
the REA or consented to any modification thereof, (iii) Seller has performed all material obligations on the part of the Seller to be performed under the REA, (iii) no notice of default has been given or received by Seller with respect to
the REA, and (iv) the REA is in full force and effect. 
 5.1.12   The obligation of Purchaser to close the transaction
contemplated in this Agreement is expressly conditioned upon the fact that the representations and warranties of Seller contained in this Section 5.1 are currently true and correct and shall be true and correct as of the Closing Date unless
waived in writing by Purchaser. All such representations and warranties shall be remade and certified on the Closing except to the extent Seller discloses in such certificate that any such representations and warranties are not true. Notwithstanding
anything to the contrary in this Agreement, if, on or prior to the 

  

 14 

 
Closing Date (i) Seller notifies Purchaser that any of Seller’s representations and warranties were not true in all respects when made or is not or will not
be true in all respects with the same effect on and as of the Closing Date, or (ii) Purchaser discovers any material error, misstatement or omission in any such representation or warranty (individually and collectively, a “False Seller
Representation”), Purchaser (x) may elect to terminate this Agreement by notice to Seller, in which case the Deposit shall be returned to Purchaser and Purchaser shall be entitled to obtain reimbursement from Seller for all
out-of-pocket expenses incurred by Purchaser relative to this Agreement, thereupon this Agreement will become null and void and of no further force or effect and neither Party shall have any further liability or obligation to the other except the
Surviving Obligations; provided, however, that in the case of a False Seller Representation that consists of a willful and knowing misstatement by Seller when made, or becomes false because of the willful and knowing fault of Seller, the foregoing
right of Purchaser to terminate this Agreement shall be without limitation to any other rights or remedies Purchaser may have under this Agreement, or (y) proceed to close the transaction. 
 5.1.13   To Seller’s knowledge, no assessments have been made against any portion of the Property which are unpaid, whether or not
they have become liens. 
 5.1.14   Seller represents that neither Seller nor any of its respective officers, directors,
shareholders, partners, members or affiliates (including without limitation indirect holders of equity interests in Seller) is or will be an entity or person (i) that is listed in the Annex to, or is otherwise subject to the provisions of
Executive Order 13224 issued on September 24, 2001 (“EO13224”), (ii) whose name appears on the United States Treasury Department’s Office of Foreign Assets Control (“OFAC”) most current list of “Specifically
Designated National and Blocked Persons” (which list may be published from time to time in various mediums including, but not limited to, the OFAC website, http:www.treas.gov/ofac/t11sdn.pdf) (iii) who commits, threatens to commit or
supports “terrorism”, as that term is defined in EO3224, (iv) is subject to sanctions of the United States government or is in violation of any federal, state, municipal or local laws, statutes, codes, ordinances, orders, decrees,
rules or regulations relating to terrorism or money laundering, including, without limitation, EO13224 and the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, or (v) who
is otherwise affiliated with any entity or person listed above (any and all parties or persons described in clauses (i) – (v) above are herein referred to as a “Prohibited Person”). Seller covenants and agrees that neither Seller nor
any of its respective officers, directors, shareholders, partners, members or affiliates (including without limitation indirect holders of equity interests in Seller) shall (aa) conduct any business, nor engage in any transaction or dealing, with
any Prohibited Person, including, but not limited to, the making or receiving of any contribution of funds, goods, or services, to or for the benefit of a Prohibited Person, or (bb) engage in or conspire to engage in any transaction that evades

  

 15 

 
or avoids, or has the purpose of evading or avoiding, or attempts to violate, any of the prohibitions set forth in EO13224. 
 5.1.15   Other than a third party management agreement, Seller has not entered into any employment, employee benefit or collective
bargaining contracts affecting the Property, including pension or profit-sharing plans, agreements or trusts and medical, dental, hospital, life or other insurance plans. 
 5.1.16   To the best of Seller’s knowledge, the items listed on Schedule 5.1.16 are all of the licenses, permits or evidences of inspection (collectively the “Permits”) held by
Seller in connection with its ownership and operation of the Property. Seller is not aware of any violations or revocations in connection with any of the listed Permits. Neither Seller nor any agent or employees of Seller has received any notice of
any intention on the part of the issuing authority to cancel, suspend or modify any of the Permits or to take any action or institute any proceedings to effect such a cancellation, suspension or modification. All of the licenses and permits are
fully paid for, and Seller has made, or will make, application for renewals of any such Permits which will expire before the Closing Date. 
 5.1.17   To the best of Seller’s knowledge, there are no existing violations of law by the Property or due to the operation thereof. In the event that Seller or Purchaser receives written notice prior to the Closing from any
governmental or quasi-governmental authority having jurisdiction over the Property of any violation in connection with the Property, such party will promptly, and in any event prior to Closing, deliver notice of such matter to the other party. In
the event that Seller elects not to cure any such item prior to Closing, Purchaser may, at its election, either extend the Closing for up the thirty (30) days in order to allow Seller time to cure such violation, or terminate this Agreement and
receive a full return of the Deposit. 
 5.1.18   There are no outstanding agreements regarding the payment of leasing
commissions in connection with the Property, and Seller is not party to any agreement that would cause a leasing commissions to be due to any party in the event of any expansion or renewal of the Tenant Lease. 
 5.2   By Purchaser.   Purchaser represents and warrants to Seller as follows: 
 5.2.1   Purchaser is a limited partnership, duly organized, validly existing and in good standing under the laws of the State of
Delaware, has duly authorized the execution and performance of this Agreement, and such execution and performance will not violate any material term of its organizational documents. 
 5.2.2   Purchaser is acting as principal in this transaction with authority to close the transaction. 
  

 16 

 5.2.3   No petition in bankruptcy (voluntary or otherwise), assignment for the benefit
of creditors, or petition seeking reorganization or arrangement or other action under federal or state bankruptcy laws is pending against or contemplated by Purchaser. 
 5.2.4   Unless otherwise disclosed to Seller in writing, neither Purchaser nor any affiliate of or principal in Purchaser is other than a citizen of, or partnership, corporation or other form of
legal person domesticated in, the United States of America. 
 5.2.5   Purchaser will not use the assets of an employee
benefit plan as defined in Section 3(3) of the Employee Retirement Income Security Act of 1974 (“ERISA”) and covered under Title I, Part 4 of ERISA or Section 4975 of the Internal Revenue Code of 1986, as amended, in the
performance or discharge of its obligations hereunder, including the acquisition of the Property. Purchaser shall not assign its interest hereunder to any person or entity, which does not expressly make this covenant and warranty for the benefit of
Seller. 
 5.2.6   At closing, Purchaser shall assume and agree to perform all obligations of Seller under the Leases, the
Retail Lease, the Lobby Lease, the Permits, the Warranties, the REA, the Service Contracts, and all other obligations of Seller which Purchaser has agreed to perform hereunder. 
 5.3   Mutual.   Each of Seller and Purchaser represents to the other that it has had no dealings, negotiations, or consultations with any broker, representative, employee, agent
or other intermediary in connection with the Agreement or the sale of the Property, except for CB Richard Ellis (the “Broker”), who will be paid by Seller at Closing pursuant to separate agreement. Seller and Purchaser agree that each will
indemnify, defend and hold the other free and harmless from the claims of any other broker(s), representative(s), employee(s), agent(s) or other intermediary(ies) claiming to have represented Seller or Purchaser, respectively, or otherwise to be
entitled to compensation in connection with this Agreement or in connection with the sale of the Property. The terms and provisions of this paragraph shall survive Closing hereunder. 
  

	6.	 COSTS AND PRORATIONS. 

 6.1
  Purchaser’s Costs.   Purchaser shall pay the following costs of closing this transaction: 
 6.1.1   The fees and disbursements of its counsel, inspecting architect and engineer and any other consultants engaged by Purchaser, if
any; 
 6.1.2   Any and all recording fees; 
 6.1.3   One half (1/2) of any escrow fees; 
  

 17 

 6.1.4   Any and all real estate transfer, stamp or documentary tax(es); and 

6.1.5   Any other expense(s) incurred by Purchaser or its representative(s) in inspecting or evaluating the Property or closing this
transaction. 
 6.2   Seller’s Costs.   Seller shall pay the following costs of closing this
transaction: 
 6.2.1   The fees and disbursements of Seller’s counsel; 
 6.2.2   The cost of any update or recertification of the Survey; 
 6.2.3   The cost of any owner’s title insurance policy in the amount of the Purchase Price, any premium charges, and any
cancellation charge(s) imposed by any title company in the event a title insurance policy is not issued, unless caused by willful default of Purchaser hereunder. Notwithstanding the foregoing, the cost of any endorsements or coverages desired by
Purchaser in addition to the basic owner’s title insurance coverage, shall be paid by Purchaser. 
 6.2.4   One half
(1/2) of any escrow fees; and 
 6.2.5   Any commission paid to the Broker. 
 6.3   Prorations - Generally.   Subject to the remaining provisions of this Section 6, the following shall be
apportioned between Seller and Purchaser as of 11:59 p.m. on the day prior to the Closing Date, and thereafter shall be paid or received, as the case may be, by Purchaser: Rents, reimbursement of real estate taxes and operating expenses, other
tenant charges under Leases, and rent abatements and concessions under Leases which have been collected (or accrued) as of 11:59 p.m. on the day prior to the Closing Date (collectively, “Rents”), to the extent accrued and paid as of
the Closing Date; real property taxes and assessments, including any special assessments, property owner’s association fees and assessments, bond payments and business improvement or special taxing area assessments, if any (collectively,
“Taxes”), on the basis of the tax year in which closing occurs; water charges and sewer rents and charges and other utility charges (collectively, “Utilities”) for the month or period in which closing occurs;
payments for the month in which closing occurs under Service Contracts assigned to Purchaser; and all other items of expense and income in connection with the operation of the Property. In the event Purchaser elects to acquire the Property as part
of a transaction qualifying as a like-kind exchange under Internal Revenue Code Section 1031 and the regulations promulgated thereunder, any of the following adjustments or prorations that would otherwise be taken as a credit against the
Purchase Price may, at the option of Purchaser, be paid by Seller to Purchaser on the day immediately following the Closing 

  

 18 

 
Date, in cash or other immediately available payable funds (and shall not be credited against the Purchase Price). 
 6.4   Rents.   Any Rent received by Seller from and after the Closing Date for any period(s) after the Closing Date
promptly shall be remitted to Purchaser. The first rents collected after Closing from each tenant shall be successively applied to the payment of: (i) rents due and payable in the month payment is made;(ii) rents due and payable in the month in
which Closing occurs (iii) rents due and payable in months succeeding the month in which Closing occurs, up to and including the month in which payment is made; and (iv) rents due and payable in months preceding the month in which Closing
occurred other than applied above, if any. Purchaser shall collect and remit to Seller its prorated share of any delinquent rents paid to Purchaser after Closing, but Purchaser does not guarantee any such collections. With respect to any unpaid or
delinquent Rents existing as of the Closing Date, Purchaser shall remit the same to the Seller as and when received, on a tenant-by-tenant basis, and Purchaser shall use commercially reasonable efforts to collect all such delinquent rents for the
benefit of Seller, provided, that Purchaser shall not be obligated to terminate a Lease, declare a default under a Lease or bring suit against a tenant therefor, and, provided, further, that Seller shall be deemed to waive any right to bring suit
against a tenant for any delinquent Rents; including without limitation the right to declare a default under a Lease, terminate any Lease or forcibly evict any tenant or place a lien against the Property. 
 6.5   Taxes.   General real estate taxes and special assessments relating to the Property payable during the year in
which Closing occurs shall be prorated as of the Closing Date. If Closing shall occur before the actual taxes and special assessments payable during such year are known, the apportionment of taxes shall be upon the basis of taxes for the Property
payable during the immediately preceding year, provided that, if the taxes and special assessments payable during the year in which Closing occurs are thereafter determined to be more or less than the taxes payable during the preceding year (after
any appeal of the assessed valuation thereof is concluded), Seller and Purchaser promptly (but no later than March 31, 2008, except in the case of an ongoing tax protest) shall adjust the proration of such taxes and special assessments, and
Seller or Purchaser, as the case may be, shall pay to the other any amount required as a result of such adjustment and this covenant shall not merge with the deed delivered hereunder but shall survive the Closing. 
 6.6   Utilities.   Apportionment of Utilities in each case shall be made based on meter readings conducted no earlier
than two (2) calendar days prior to the Closing Date, or, if readings are unavailable, on estimates based upon actual bills issued for the immediately prior billing period or otherwise as the parties mutually may agree, in which latter event
final adjustments shall be made after actual charges are determined but in no event later than sixty (60) days following the Closing Date and a reasonable escrow therefor, at the option of Seller or Purchaser, shall be established with the
Escrow Agent on the Closing Date. In 

  

 19 

 
the alternative, Seller may coordinate with Purchaser and any applicable Utilities to have service switched from the account of Seller to the account of Purchaser on
the Closing Date, in which event Utility charges shall not be prorated. Any Utilities billed directly to and payable directly by a tenant under a Lease shall not be apportioned hereunder. 
 6.7   Tenant Security Deposits.   The aggregate amount of all cash security deposits held by Seller under the Leases
shall, at Purchaser’s election, be either (i) paid to Purchaser outside of Closing on the day immediately following the Closing Date, or (ii) taken as a credit against the Purchase Price, and the Purchaser shall assume the obligation
for such security deposits pursuant to the Assignment and Assumption provided for in Section 9.2.3 hereof, and (ii) any non-cash security deposits held by Seller under any Leases shall be delivered to Purchaser and Seller shall execute any
assignments or other documentation required to transfer such non-cash security deposits. 
 6.8   Leasing Commissions.
  The aggregate amount of unpaid leasing commissions, if any, due and payable to leasing or other agents for the then remaining term of each Lease in effect as of the date hereof, not including any such commissions which may, in the
future, be payable with respect to unexercised termination, expansion or extension options) shall, at Purchaser’s election, be either (i) paid to Purchaser outside of Closing on the day immediately following the Closing Date, or
(ii) taken as a credit against the Purchase Price. On the Closing Date and pursuant to the Assignment and Assumption provided for in Section 9.2.3 hereof, the Purchaser shall assume all leasing commissions due and payable to leasing or
other agents with respect to (A) the Leases, (B) Leases approved by Purchaser, entered into after the date hereof in accordance with the terms hereof, and (C) the exercise of any right of renewal or expansion existing under the Leases
in effect as of the date hereof. 
 6.9   Tenant Improvements and Allowances.   As used in this Agreement,
the term the “Tenant Costs” means all costs of all tenant construction obligations of the landlord under all Leases whether such obligations are structured as the obligation of the landlord to deliver improved space or to provide a tenant
improvement allowance; provided, however, from and after the date hereof, Purchaser shall have the right to review and approve any and all contracts for Tenant Improvements and Tenant Costs before such contracts are executed on behalf of Seller and
all such contracts must allow assignment to Purchaser. 
 6.9.1   With respect to Tenant Costs under Leases in effect as of
the date hereof which are monetary obligations on the Closing Date, the Purchaser may, at the option of Purchaser (A) elect to receive a credit against the Purchase Price or (B) elect to have Seller pay to Purchaser on the day following
the Closing Date the aggregate unpaid amount thereof by wire transfer of immediately available funds. At Closing, Seller shall assign to Purchaser and Purchaser shall assume the outstanding obligations of Seller with respect to all such monetary
obligations with respect to Tenant Costs under Leases, due and 

  

 20 

 
payable after the Closing Date. Thereafter, Purchaser shall pay all such monetary obligations with respect to Tenant Costs under Leases from and after the Closing Date
as and when the same shall become due and payable; and 
 6.9.2   With respect to Tenant Costs under Leases, approved by
Purchaser and executed from and after the date hereof; on the Closing Date, Purchaser shall reimburse the Seller for all such Tenant Costs paid by Seller as of or prior to the Closing Date, Seller shall assign to Purchaser and Purchaser shall assume
all of obligations of Seller under all Construction Contracts therefor as part of the Assignment and Assumption provided for in Section 9.3.1 hereof, and the aggregate unpaid amount of all such Tenant Costs shall be paid by Purchaser from and
after the Closing Date as and when the same shall become due and payable. 
 6.10  In General.   Any other
costs or charges of closing this transaction not specifically mentioned in this Agreement shall be paid and adjusted in accordance with local custom in Nashville, Tennessee. Notwithstanding anything to the contrary contained herein, Purchaser shall
have the option in Purchaser’s sole and absolute discretion, to take a credit against the Purchase Price for any or all of the adjustments required herein rather than accept payment on the day following Closing. Purchaser shall provide Seller
with reasonable advance notice prior to Closing of any adjustments it desire to have credited against the Purchase Price. 
 6.11  Purpose and Intent.   Except as expressly provided herein, the purpose and intent as to the provisions of prorations and apportionments set forth in this Section 6 and elsewhere in this Agreement
is that Seller shall bear all expenses of ownership and operation of the Property and shall receive all income therefrom accruing through midnight at the end of the day preceding the Closing Date and Purchaser shall bear all such expenses and
receive all such income accruing thereafter. 
 6.12  Final Adjustment After Closing.   The Purchaser and
Seller agree to make final adjustments for any item being prorated under this Section after reconciliations have been completed with all tenants on or before ninety (90) days after Closing. Payments in connection with the final adjustment shall
be due and payable within thirty (30) days of written notice. 
  

	7.	 DAMAGE, DESTRUCTION OR CONDEMNATION. 

 7.1  Material Event.   If, prior to Closing, the number of parking spaces on the Property are reduced below ratios required by applicable law or Leases, the buildings are damaged and the cost of repair exceeds
$100,000.00 (as determined by Purchaser and its contractors in consultation with Seller) or access to the Property is materially and adversely affected, or is destroyed or taken under power of eminent domain and the cost or repair exceeds $100,000
(as determined by Purchaser and its contractors in consultation with Seller), or a 

  

 21 

 
casualty or taking occurs that could, with the passage of time, grant the Tenant a right to terminate under the Lease (a “Material Event”), Purchaser
may elect to terminate this Agreement by giving written notice of its election to Seller within fifteen (15) days after receiving notice of such destruction or taking. If Purchaser does not give such written notice within such fifteen
(15) day period, this transaction shall be consummated on the date and at the Purchase Price provided for in Section 2, and Seller will assign to Purchaser the physical damage proceeds of any insurance policy(ies) payable to Seller,
or Seller’s portion of any condemnation award, in both cases, up to the amount of the Purchase Price, and, if an insured casualty, pay to Purchaser the amount of any deductible but not to exceed the amount of the loss. 
 7.2   Immaterial Event.   If, prior to Closing, the Property is subject to a casualty or a condemnation event that is
not a Material Event, Purchaser shall close this transaction on the date and at the Purchase Price agreed upon in Section 2, and Seller will assign to Purchaser the physical damage proceeds of any insurance policies payable to Seller, or
Seller’s rights to any portion of any condemnation award, in both cases, up to the amount of the Purchase Price and, if an insured casualty, pay to Purchaser the amount of any deductible but not to exceed the amount of the loss. 
 7.3   Termination and Return of Deposit.   If Purchaser elects to terminate this Agreement pursuant to this
Section 7, Seller shall promptly direct the Title Company to return the Deposit to Purchaser, and neither party shall have any further liability hereunder except for the Surviving Obligations. 
  

	8.	 NOTICES. 

 Any notice required
or permitted to be given hereunder shall be deemed to be given when hand delivered or one (1) business day after pickup by Emery Air Freight, Airborne, Federal Express, or similar overnight express service, or by facsimile (only as provided
below) in either case addressed to the parties at their respective addresses referenced below: 
  

			
	If to Seller:	  	Ferrari Partners, L.P.
		  	357 Riverside Drive
		  	Suite 230A
		  	Franklin, TN 37064
		  	Attention: Chad M. Ferrari
		  	Phone: (615) 591-2727
		  	Fax: (615) 591-2722
		
	With a copy to:	  	Gullett, Sanford, Robinson and Martin, PLLC
		  	315 Deaderick Street, Suite 1100
		  	P.O. Box 198888
		  	Nashville, TN 37219-8888
		  	Attention: Wesley D. Turner

  

 22 

			
		  	Phone: (615) 244-4994
		  	Fax: (615) 256-6339
		
	If to Purchaser:	  	c/o Wells Real Estate Funds
		  	6200 The Corners Parkway
		  	Suite 250
		  	Atlanta, GA 30092
		  	Attention: Keith Willby, Senior Vice President
		  	 Phone: (770) 243-8446
 Fax: (770) 200-8199

	With a copy to:	  	McGuireWoods, LLP
		  	1170 Peachtree Street, Suite 2100
		  	Atlanta, Georgia 30309
		  	Attention: Stephen D. Peterson
		  	Phone: (404) 443-5719
		  	Fax: (404) 443-5764

 or in each case to such other address as either party may from time to time designate by giving notice in
writing to the other party. Except for facsimile notices between 9:00 a.m. and 5:00 p.m. Atlanta time on a business day that are followed up by an overnight courier delivery, telephone and facsimile numbers are for informational purposes only.
Effective notice will be deemed given only as provided above. 
  

	9.	 CLOSING AND ESCROW. 

 9.1
  Escrow Instructions.   Upon execution of this Agreement, the parties shall deliver an executed counterpart of this Agreement to the Title Company to serve as the instructions to the Title Company as the escrow holder for
consummation of the transaction contemplated herein. Seller and Purchaser agree to execute such additional and supplementary escrow instructions as may be appropriate to enable the Title Company to comply with the terms of this Agreement; provided,
however that in the event of any conflict between the provisions of this Agreement and any supplementary escrow instructions, the terms of the Agreement shall prevail. 
 9.2   Seller’s Deliveries.   Seller shall deliver either at the Closing or by making available at the Property, as appropriate, the following original documents, each
executed and, if required, acknowledged: 
 9.2.1   A Special Warranty Deed to the Property, in the form attached hereto as
Exhibit 9.2.1, subject, only to the Permitted Exceptions. 
 9.2.2   A Bill of Sale in the form attached hereto as
Exhibit 9.2.2 conveying the Personal Property. 
  

 23 

 9.2.3   (i) The Lease and any new leases entered into pursuant to Section 4.4;
(ii) a current listing of any tenant security deposits and prepaid rents held by Seller with respect to the Property; and (iii) an assignment of such leases, deposits, and prepaid rents by way of an Assignment and Assumption of Leases
agreement in the form attached hereto as Exhibit 9.2.3. 
 9.2.4   (i) Copies of all contracts relating to the
Property which Purchaser has elected to assume or which are not terminable by Seller on or before the Closing Date; and (ii) an assignment of such contracts to Purchaser by way of an Assignment and Assumption of Contracts agreement, in the form
attached hereto as Exhibit 9.2.4. 
 9.2.5   All books and records at the Property held by or for the account of
Seller, including, without limitation, plans and specifications, as available. 
 9.2.6   An affidavit pursuant to the
Foreign Investment and Real Property Tax Act in the form attached hereto as Exhibit 9.2.6. 
 9.2.7   A letter
notifying Tenant of the conveyance of the Property in the form attached hereto as Exhibit 9.2.7. 
 9.2.8   An
affidavit and certificate as to parties in possession and debts and liens in a form reasonably required by the Title Company and acceptable to Seller and consistent with the title requirements set forth in Section 3 2 hereof. 

9.2.9   An assignment of all Permits, Warranties and the rights of Seller in the name “330 Commerce Street.” 
 9.2.10  An assignment of all Seller’s right, title and interest in and to the Lobby Lease; 
 9.2.11  An assignment of all Seller’s right, title and interest in and to the Retail Lease; 
 9.2.12  The notices set forth In Section 9.6 hereof; 
 9.2.13  A recertification of Seller’s representations set forth in Section 5.1 hereof; and 
 9.2.14  A settlement statement. 
 9.3   Purchaser’s Deliveries.
  At the Closing, Purchaser shall (i) pay Seller the Purchase Price; and (ii) execute the agreements referred to in Sections 9.2.3(iii), 9.2.4(ii), 9.2.7, 9.2.11 and 9.2.12. 
  

 24 

 9.4   Possession.   Purchaser shall be entitled to possession of the
Property on the Closing Date. 
 9.5   Insurance.   Except for insurance maintained by the tenant under the
Leases, Seller shall terminate its policies of insurance as of the time of transfer of title on the Closing Date, and Purchaser shall be responsible for obtaining its own insurance thereafter. 
 9.6   Notice Letters.   Seller shall provide to Purchaser copies of form letters to contractors and utility companies
serving the Property, advising them of the sale of the Property to Purchaser and directing to Purchaser all bills for the services provided to the Property on and after the Closing Date. Seller shall be entitled to the return of any deposit(s)
posted by it with any utility company. 
 9.7   Closing Documents.   All closing documents required to be
furnished by Seller and Purchaser pursuant hereto shall be in form, execution and substance reasonably satisfactory to the Title Company, the parties and their respective counsel, provided, however, that the provisions of this
Section 9.7 shall not be construed to permit any party to impose any obligations, costs or risks on the other party that are not otherwise provided for under this Agreement. 
  

	10.	 DEFAULT; FAILURE OF CONDITION. 

 10.1   Purchaser Default.   If Purchaser shall become in breach of or default under this Agreement and the breach or default continues beyond the expiration of the cure period, if any, provided in
Section 11.6 hereof, the Deposit shall be retained by Seller as liquidated damages, and both parties shall be relieved of and released from any further liability hereunder except for the Surviving Obligations. Seller and Purchaser agree
that the Deposit is a fair and reasonable amount to be retained by Seller as agreed and liquidated damages in light of Seller’s removal of the Property from the market and the costs incurred by Seller and shall not constitute a penalty or a
forfeiture. 
 10.2   Seller Default.   If Seller shall refuse or fail to convey the Property as herein
provided for any reason other than (a) a default by Purchaser and the expiration of the cure period, if any, provided under Section 11.6 hereof, (b) the existence of a Pending Default (as defined in and contemplated by
Section 11.6), or (c) any other provision of this Agreement which permits Seller to terminate this Agreement or otherwise relieves Seller of the obligation to convey the Property, Purchaser shall elect as its exclusive remedies,
either to (i) terminate the Agreement and recover the Deposit; or (ii) seek specific performance. Seller and Purchaser agree that such amount is a fair and reasonable amount to be awarded to Purchaser as agreed and liquidated damages in
light of the anticipated damages and costs which would be incurred by Purchaser on Seller’s default and shall not constitute a penalty or a forfeiture. 
  

 25 

 10.3   Failure of Condition.   If, prior to Closing, Seller discloses to
Purchaser or Purchaser discovers that (i) title to the Property is subject to defects, limitations or encumbrances other than Permitted Encumbrances; or (ii) any representation or warranty of Seller contained in this Agreement is or, as of
the Closing Date, will be untrue, then Purchaser shall promptly give Seller written notice of its objection thereto. In such event, Seller may elect to postpone the Closing for thirty (30) days and attempt to cure such objection. If Purchaser
fails to waive any such objection within ten (10) days after notice from Seller that Seller will not cure the objection, this Agreement will terminate automatically and Seller shall promptly direct the Title Company to return the Deposit to
Purchaser, provided that Purchaser shall not be in default hereunder, and neither party shall have any liability to the other except for the Surviving Obligations. 
  

	11.	 MISCELLANEOUS. 

 11.1
  Entire Agreement.   This Agreement, together with the Exhibits attached hereto, all of which are incorporated by reference, is the entire agreement between the parties with respect to the subject matter hereof, and no
alteration, modification or interpretation hereof shall be binding unless in writing and signed by both parties. 
 11.2
  Severability.   If any provision of this Agreement or application to any party or circumstances shall be determined by any court of competent jurisdiction to be invalid and unenforceable to any extent, the remainder of
this Agreement or the application of such provision to such person or circumstances, other than those as to which it is so determined invalid or unenforceable, shall not be affected thereby, and each provision hereof shall be valid and shall be
enforced to the fullest extent permitted by law. 
 11.3   Applicable Law.   THIS AGREEMENT SHALL BE
CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF TENNESSEE. 
 11.4   Assignability.
  Except for an assignment to an affiliate of Purchaser, Purchaser may not assign this Agreement without first obtaining Seller’s written consent. Any assignment in contravention of this provision shall be void. No assignment shall
release the Purchaser herein named from any obligation or liability under this Agreement. Any assignee shall be deemed to have made any and all representations and warranties made by Purchaser hereunder, as if the assignee were the original
signatory hereto. If Purchaser requests Seller’s written consent to any assignment, Purchaser shall (1) notify Seller in writing of the proposed assignment; (2) provide Seller with the name and address of the proposed assignee; and
(3) provide Seller with a copy of the proposed assignment. 
  

 26 

 11.5   Successors Bound.   This Agreement shall be binding upon and
inure to the benefit of Purchaser and Seller and their respective successors and permitted assigns. 
 11.6   Breach.
  Should either party be in breach of or default under or otherwise fail to comply with any of the terms of this Agreement, except as otherwise provided in this Agreement, the complying party shall have the option to cancel this Agreement
upon ten (10) days written notice to the other party of the alleged breach or default and failure by such other party to cure such breach within such ten (10) day period. The non-defaulting party shall promptly notify the defaulting party
in writing of any such alleged breach, default or failure upon obtaining knowledge thereof. The Closing Date shall be extended to the extent necessary to afford the defaulting party the full ten-day period within which to cure such breach, default
or failure; provided, however, that the failure or refusal by a party to perform on the scheduled Closing Date (except in respect of a Pending Default by the other party) shall be deemed to be an immediate default without the necessity of notice;
and provided further, that if the Closing Date shall have been once extended as a result of default by a party, such party shall be not be entitled to any further notice or cure rights with respect to that or any other default. For purposes of this
Section 11.6, a “Pending Default” shall be a default for which (i) written notice was given by the non-defaulting party, and (ii) the cure period extends beyond the scheduled Closing Date. 
 11.7   Public Disclosure.   Neither Purchaser nor Seller shall make a public disclosure of the terms of this
transaction, either before or after Closing, except that this general prohibition shall not prevent (a) Seller and Purchaser from releasing a press release concerning the sale of the Property, provided that such press release shall contain only
the names of the Seller and Purchaser, the Closing Date and customary quotes usually included in a press release of this nature, (b) either party from disclosing any information with respect to the transaction contemplated herein, any matters
set forth in this Agreement, or any of the terms and provisions of this Agreement if and to the extent that such disclosure is required by applicable law or a court or other binding order or by applicable administrative rule or regulation or order
of any regulatory or supervisory agency or authority with competent jurisdiction over such matter, (c) Seller or Purchaser from disclosing any information with respect to the transaction contemplated herein, any matters set forth in this
Agreement, or any of the terms and provisions of this Agreement to any of their respective, current, or prospective lenders, members, officers, directors, trustees, employees, consultants, advisors, agents, representatives, partners and/or
shareholders (and any of the respective lenders, members, officers, directors, trustees, employees, consultants, advisors, agents, representatives, partners and/or shareholders of any of such parties); provided that all of the foregoing are advised
of the confidential nature of such information, matters, terms and provisions, or (d) Purchaser and/or any affiliate of Purchaser of any tier making any public statement, filing or other disclosure which any of them reasonably believes to be
required or desirable under applicable securities laws or in connection with any 

  

 27 

 
securities offering or registration by Seller and/or any parent of Seller of any tier, or as may be requested or required by the New York Stock Exchange, SEC or other
securities market. The parties hereto shall deliver to the other a copy of the press release at least one (1) business day prior to the issuance thereof. The provisions of this Section shall survive the closing of the transaction contemplated
by this Agreement or termination of this Agreement (whichever shall occur) without restriction or limitation. 
 11.8
  Captions.   The captions in this Agreement are inserted only as a matter of convenience and for reference and in no way define, limit or describe the scope of this Agreement or the scope or content of any of its
provisions. 
 11.9   Attorneys’ Fees.   In the event of any litigation arising out of this Agreement,
the prevailing party shall be entitled to reasonable attorneys’ fees and costs. 
 11.10   No Partnership.
  Nothing contained in this Agreement shall be construed to create a partnership or joint venture between the parties or their successors in interest. 
 11.11   Time of Essence.   Time is of the essence in this Agreement. 
 11.12   Counterparts.   This Agreement may be executed and delivered in any number of counterparts, each of which so executed and delivered shall be deemed to be an original and all of which shall constitute one
and the same instrument. 
 11.13   Recordation.   Purchaser and Seller agree not to record this Agreement
or any memorandum hereof. 
 11.14   Survival and Limitation of Representations and Warranties; Seller’s
Knowledge.   The representations and warranties set forth in this Agreement are made as of the date of this Agreement and are remade as of the Closing Date and Section 5.1 shall survive the Closing but written notification
of any claim arising therefrom must be received by Seller within one (1) year of the Closing Date or such claim shall be forever barred and Seller shall have no liability with respect thereto. 
 11.15   Calculation of Time Periods.   Unless otherwise specified, in computing any period of time described herein, the
day of the act or event after which the designated period of time begins to run is not to be included and the last day of the period so computed is to be included at, unless such last day is a Saturday, Sunday or legal holiday for national banks in
the location where the Property is located, in which event the period shall run until the end of the next day which is neither a Saturday, Sunday, or legal holiday. The last day of any period of time described herein shall be deemed to end at 5:00
p.m. Atlanta, Georgia time. 
  

 28 

 11.16   Indemnification for Lease Claims.   Seller will indemnify,
defend and hold harmless Purchaser from any and all liabilities, claims, damages, costs or expenses (including reasonable attorneys’ fees) arising from claims by Tenants under the Leases as a result of any obligations and duties of the landlord
thereunder arising prior to the Closing Date. Purchaser will indemnify, defend and hold harmless Seller from any and all liabilities, claims, damages, costs or expenses (including reasonable attorneys’ fees) arising from claims by Tenants under
the Leases as a result of any obligations and duties of landlord thereunder arising on or after the Closing Date. The indemnification obligations contained herein shall survive Closing. 
 11.17   Further Assurances.   The parties each agree to do, execute, acknowledge and deliver all such reasonable further
acts, instruments and assurances and to take all such reasonable further action before or after the Closing, as shall be necessary or desirable to perform this Agreement and consummate and effect the transactions contemplated hereby. Seller
acknowledges that Purchaser may be required by the Securities and Exchange Commission to file audited financial statements for one year (i.e., the last complete fiscal year) with regard to the Property. Seller shall (i) cooperate with
Purchaser, its counsel, accountants, agents, and representatives, provide them with access to Seller’s books and records (including, without limitation, the general ledger and operating statements) with respect to the operation of the Property
for the applicable period, and permit them to copy the same, and (ii) furnish Purchaser with such additional information concerning the same as Purchaser shall reasonably request. 
 11.18   Section 1031 Exchange.   Seller may effect the sale of the Property as part of a like kind exchange (the
“Exchange”) pursuant to §1031 of the Internal Revenue Code of 1986, as amended (the “Code”), provided that: (i) the Closing shall not be delayed or affected by reason of the Exchange nor shall the consummation or
accomplishment of the Exchange be a condition precedent or condition subsequent to Seller’s obligations under this Agreement; (ii) Seller shall effect the Exchange through an assignment of its rights under this Agreement to a qualified
intermediary; and (iii) Purchaser shall not be required to take an assignment of the purchase agreement for the replacement property or be required to acquire or hold title to any real property for purposes of consummating the Exchange.
Purchaser shall not by this Agreement or acquiescence to the Exchange (1) have rights under this Agreement affected or diminished in any manner, or (2) be responsible for compliance with or be deemed to have warranted to Seller that the
Exchange in fact complies with §1031 of the Code. 
 [Remainder of page intentionally left blank] 
  

 29 

 IN WITNESS WHEREOF, Purchaser and Seller have executed this Agreement on the date set forth below,
effective as of the date set forth above. 
  

													
	SELLER:	 	FERRARI PARTNERS, L.P.
		 	a Georgia limited partnership
		
		 	By: FERRARI MANAGEMENT COMPANY, LLC,
		 	       a Georgia limited liability company
						
		 		 		 		 		 	By: /s/ Chad M.
Ferrari                                
	Date: October 3rd, 2007	 		 		 		 	Name: Chad M.
Ferrari                                
		 		 		 		 		 	Title:
Secretary                                       
     
		
	PURCHASER:	 	Wells Mid-Horizon Value-Added Fund I, LLC,
		 	a Georgia limited liability company
				
		 		 		 	By: Wells Investment Management Company, LLC,
		 		 		 	a Georgia limited liability company, its manger
				
	Date: October 3, 2007	 		 		 	 By: /s/ Douglas P.
Williams                                

		 		 		 	 Name: Douglas P.
Williams                               

		 		 		 		 	 Title: Senior Vice
President                               

  
 An original, fully
executed copy of this Agreement, together with the Deposit, has been received by the Title Company this          day of September, 2007, and by execution, hereof the Title Company hereby covenants and
agrees to be bound by the terms of this Agreement. 
  

											
		 		 	FIDELITY NATIONAL TITLE INSURANCE
		 		 	COMPANY
				
		 		 		 	By:                                       
                           
		 		 		 		 	Name:                                      
             
		 		 		 		 	Title:                                      
                

  

 30 

 FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT 
 THIS FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT (the “First Amendment”) is dated effective as of the 1st day of November, 2007, and is to be and become part of that certain Purchase and Sale Agreement between Ferrari Partners,
L.P., a Georgia limited partnership, as Seller therein, and Wells Mid-Horizon Value-Added Fund I, LLC, a Georgia limited liability company, as Purchaser therein, dated as of October 3, 2007, (the “Agreement”) for the purchase and sale
of certain property (the “Property”) containing all that tract or parcel of real property located in Nashville, Tennessee and as more particularly described in the Agreement. 
 WITNESSETH 
 WHEREAS, the parties have agreed to extend
the Approval Date to November 9, 2007; 
 NOW THEREFORE, for and in consideration of the mutual covenants
contained herein, One and No/100ths Dollar ($1.00) in hand paid and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agree as follows: 
 1.        All terms used herein with an initial capital letter and not otherwise defined herein
shall have the meaning ascribed thereto in the Agreement. 
 2.        The first
sentence of Section 3.5 of the Agreement is deleted in its entirety and replaced with the following: 
 “If, as a
result of its various investigations, Purchaser determines in its sole and absolute discretion, that the Property is not a suitable investment for its purposes for any reason or no reason, Purchaser shall have the right by giving Seller written
notice (the “Termination Notice”) on or before November 9, 2007 (the “Approval Date”) to terminate this Agreement. 
 3.        This First Amendment may be executed in several counterparts, each of which shall constitute an original and all of which together shall constitute one and the same
instrument. Facsimile signatures shall be considered binding and original signatures. 
 EXCEPT AS MODIFIED HEREIN,
all other terms, covenants, conditions and obligations of the Agreement shall remain in full force and effect, and are hereby ratified and confirmed by the parties. 
  
 [SIGNATURES CONTAINED ON FOLLOWING PAGE] 
  

 1 

 IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to Purchase and
Sale Agreement to be executed as of the date set forth above. 
  
  

									
	SELLER:	 		 	PURCHASER:
			
	FERRARI PARTNERS, L.P., a Georgia	 		 	WELLS MID-HORIZON VALUE-ADDED
	limited partnership	 		 	FUND I, LLC, a Georgia limited liability
		 	  
 By:   Ferrari Management
Company,
 LLC
                                         
     
	 		 	 company
  
 By:    Wells Investment Management
 Company, LLC, a Georgia limited

		 	      By: /s/ Chad
Ferrari                        
	 		 	 liability company, its manager

		 	      Name: Chad Ferrari
      Title: Secretary
	 		 	  
 By: /s/ Douglas P.
Williams                                

		 		 		 	 Name: Douglas P. Williams

		 		 		 	 Title: Senior Vice President

  

 2 

 SECOND AMENDMENT TO PURCHASE AND SALE AGREEMENT 
 THIS SECOND AMENDMENT TO PURCHASE AND SALE AGREEMENT (the “Second Amendment”) is dated effective as of the 9th day of
November, 2007, and is to be and become part of that certain Purchase and Sale Agreement between Ferrari Partners, L.P., a Georgia limited partnership, as Seller therein, and Wells Mid-Horizon Value-Added Fund I, LLC, a Georgia limited liability
company, as Purchaser therein, elated as of October 3, 2007, as amended by that certain First Amendment to Purchase and Sale Agreement dated November 1, 2007 (the “Agreement”) for the purchase and sale of certain property (the
“Property”) containing all that tract or parcel of rear property located in Nashville, Tennessee and as more particularly described in the Agreement. 
 WITNESSETH 
 WHEREAS, the parties have agreed to extend the Approval Date to
November 14, 2007; 
 NOW THEREFORE, for and in consideration of the mutual covenants contained herein, One and
No/100ths Dollar ($1.00) in hand paid and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agree as follows: 
 1.         All terms used herein with an initial capital letter and not otherwise defined herein
shall have the meaning ascribed thereto in the Agreement. 
 2.         The first
sentence of Section 3.5 of the Agreement is deleted in its entirety and replaced with the following: 
 “If, as a
result of its various investigations, Purchaser determines in its sole and absolute discretion, that the Property is not a suitable investment for its purposes for any reason or no reason, Purchaser shall have the right by giving Seller written
notice (the “Termination Notice”) on or before November 14, 2007 (the “Approval Date”) to terminate this Agreement. 
 3.        This Second Amendment may be executed in several counterparts, each of which shall constitute an original and all of which together shall constitute one and the same
instrument. Facsimile signatures shall be considered binding and original signatures. 
 EXCEPT AS MODIFIED HEREIN,
all other terms, covenants, conditions and obligations of the Agreement shall remain in full force and effect, and are hereby ratified and confirmed by the parties. 
 [SIGNATURES CONTAINED ON FOLLOWING PAGE] 
  

 1 

 IN WITNESS WHEREOF, the parties hereto have caused this Second Amendment to Purchase and
Sale Agreement to be executed as of the date set forth above. 
  

									
	SELLER:	 		 	PURCHASER:
			
	FERRARI PARTNERS, L.P., a Georgia	 		 	WELLS MID-HORIZON VALUE-ADDED
	limited partnership	 		 	FUND I, LLC, a Georgia limited liability
		 	  
 By:    Ferrari
Management Company,
 LLC
	 		 	 company
  
 By:    Wells Investment Management
 Company, LLC, a Georgia limited

		 	      By: /s/ Chad
Ferrari                
	 		 	 liability company, its manager

		 	      Name: Chad Ferrari
      Title: Secretary
	 		 	  
 By: /s/ Kevin A.
Hoover                                    
 Name: Kevin Hoover
 Title: President

  

 2 

 THIRD AMENDMENT TO PURCHASE AND SALE AGREEMENT 
 THIS THIRD AMENDMENT TO PURCHASE AND SALE AGREEMENT (the “Third Amendment”) is dated effective as of the 13th day of
November, 2007, and is to be and become part of that certain Purchase and Sale Agreement between Ferrari Partners, L.P., a Georgia limited partnership, as Seller therein, and Wells Mid-Horizon Value-Added Fund I, LLC, a Georgia limited liability
company, as Purchaser therein, dated as of October 3, 2007, as amended by that certain First Amendment to Purchase and Sale Agreement dated November 1, 2007, and further amended by that certain Second Amendment to Purchase and Sale
Agreement dated November 9, 2007 (the “Agreement”) for the purchase and sale of certain property (the “Property”) containing all that tract or parcel of real property located in Nashville, Tennessee and as more particularly
described in the Agreement. 
 WITNESSETH 
 WHEREAS, the parties have agreed to reduce the Purchase Price by $370,000, which reduction is related to repair and maintenance-related issues; 
 NOW THEREFORE, for and in consideration of the mutual covenants contained herein, One and No/100ths Dollar ($1.00) in hand paid
and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agree as follows: 
 1.        All terms used herein with an initial capital letter and not otherwise defined herein shall have the meaning ascribed thereto in the Agreement. 
 2.        Section 2.1 of the Agreement is hereby deleted in its entirety and replaced with
the following: 
 2.1      Purchase Price. The purchase price for the Property (the
“Purchase Price”) is THIRTEEN MILLION SEVEN HUNDRED EIGHTY THOUSAND AND NO/100 DOLLARS ($13,780,000) U.S. 
 3.        This Third Amendment may be executed in several counterparts, each of which shall constitute an original and all of which together shall constitute one and the same instrument. Facsimile
signatures shall be considered binding and original signatures. 
 EXCEPT AS MODIFIED HEREIN, all other terms,
covenants, conditions and obligations of the Agreement shall remain in full force and effect, and are hereby ratified and confirmed by the parties. 
  
 [SIGNATURES CONTAINED ON FOLLOWING PAGE] 
  

 1 

 IN WITNESS WHEREOF, the parties hereto have caused this Third Amendment to Purchase and
Sale Agreement to be executed as of the date set forth above. 
  
  

									
	SELLER:	 		 	PURCHASER:
			
	FERRARI PARTNERS, L.P., a Georgia	 		 	WELLS MID-HORIZON VALUE-ADDED
	limited partnership	 		 	FUND I, LLC, a Georgia limited liability
		 	  
 By:     Ferrari
Management Company,
 LLC
	 		 	 company
  
 By:    Wells Investment Management
 Company, LLC, a Georgia limited

		 	      By: /s/ Chad M. Ferrari        
	 		 	 liability company, its manager

		 	      Name: Chad M. Ferrari
      Title: Secretary
	 		 	  
 By: /s/ Douglas P.
Williams                                
 Name: Douglas P. Williams
 Title: Senior Vice President

  

 2 

 FOURTH AMENDMENT TO PURCHASE AND SALE AGREEMENT 
 THIS FOURTH AMENDMENT TO PURCHASE AND SALE AGREEMENT (the “Fourth Amendment”) is dated effective as of the 27th day of
November, 2007, and is to be and become part of that certain Purchase and Sale Agreement between Ferrari Partners, L.P., a Georgia limited partnership, as Seller therein, and Wells Mid-Horizon Value-Added Fund I, LLC, a Georgia limited liability
company, as Purchaser therein, dated as of October 3, 2007, as amended by that certain First Amendment to Purchase and Sale Agreement dated November 1, 2007, and further amended by that certain Second Amendment to Purchase and Sale
Agreement dated November 9, 2007 and further amended by that certain Third Amendment to Purchase and Sale Agreement dated November 13, 2007 (the “Agreement”) for the purchase and sale of certain property (the
“Property”) containing all that tract or parcel of real property located in Nashville, Tennessee and as more particularly described in the Agreement. 
 WITNESSETH 
 WHEREAS, certain conditions to Closing set forth in the Agreement
have not been satisfied as of the date of this Fourth Amendment, including without limitation delivery of the documents required by Sections 3.1.9, 3.1.10, 3.1.11, 3.1.12, and 3.1.13 of the Agreement, together with an amendment to the Lobby Lease as
required pursuant to Purchaser’s title objection letter delivered November 13, 2007 (such documents being hereinafter referred to as the “Pre-Closing Deliveries”); 
 WHEREAS, the parties have agreed to change the Closing Date as more particularly set forth herein in order to allow for delivery
of the Pre-Closing Deliveries; 
 NOW THEREFORE, for and in consideration of the mutual covenants contained herein,
One and Noll00ths Dollar ($1.00) in hand paid and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agree as follows: 
 1.        All terms used herein with an initial capital letter and not otherwise defined herein
shall have the meaning ascribed thereto in the Agreement. 
 2.        The first
sentence of Section 2.3 of the Agreement is hereby deleted in its entirety and replaced with the following: 
 “Payment of the Purchase Price, delivery of the Special Warranty Deed and the other closing deliveries required to be made pursuant to Section 9 hereof and the consummation of the purchase and sale transaction contemplated
hereunder (the “Closing”) will take place pursuant to an escrow closing on or before the date which is the earlier of (a) two (2) business days after Purchaser receives the Pre-Closing Deliveries, or (b) December 13,
2007 (the “Closing Date”). In the event that any conditions to Closing have not been satisfied on or prior to December 13, 2007, either party may extend the Closing Date for up to an additional fourteen (14) days in order to
allow the Closing conditions to be satisfied by delivering written notice to the other party. Seller shall deliver the Pre-Closing Deliveries to Purchaser no later than 11:00 a.m. 
  

 1 

 Eastern time on the day which is two days prior to the date on which Seller proposes the Closing take
place. In the event that Purchaser receives the Pre-Closing Deliveries after 11:00 Eastern time, the Closing Date shall occur three (3) business days after Purchaser’s receipt of the Pre-Closing Deliveries. In the event that the conditions
to Closing are not satisfied on a Closing Date, and the Closing Date is not extended, this Agreement shall terminate, the Purchaser shall receive a return of the Deposit and neither party shall have any further obligations hereunder other than those
which expressly survive the Closing or earlier termination of this Agreement.” 
 3.        This Fourth Amendment may be executed in several counterparts, each of which shall constitute an original and all of which together shall constitute one and the same instrument. Facsimile
signatures shall be considered binding and original signatures. 
  
 [SIGNATURES CONTAINED ON FOLLOWING PAGE] 
  

 2 

 EXCEPT AS MODIFIED HEREIN, all other terms, covenants, conditions and obligations
of the Agreement shall remain in full force and effect, and are hereby ratified and confirmed by the parties. 
 IN WITNESS
WHEREOF, the parties hereto have caused this Fourth Amendment to Purchase and Sale Agreement to be executed as of the date set forth above. 
  
  

									
	SELLER:	 		 	PURCHASER:
			
	FERRARI PARTNERS, L.P., a Georgia	 		 	WELLS MID-HORIZON VALUE-ADDED
	limited partnership	 		 	FUND I, LLC, a Georgia limited liability
		 	  
 By:     Ferrari
Management Company,
 LLC
	 		 	 company
  
 By:    Wells Investment Management
 Company, LLC, a Georgia limited

		 	      By: /s/ Chad
Ferrari                        
	 		 	 liability company, its manager

		 	      Name: Chad Ferrari
      Title: Secretary
	 		 	  
 By: /s/ Douglas P.
Williams                            
 Name: Douglas P. Williams
 Title: Senior Vice President

  

 3 

 FIFTH AMENDMENT TO PURCHASE AND SALE AGREEMENT 
 THIS FIFTH AMENDMENT TO PURCHASE AND SALE AGREEMENT (the “Fifth Amendment”) is dated effective as of the 27th day of
November, 2007, and is to be and become part of that certain Purchase and Sale Agreement between Ferrari Partners, L.P., a Georgia limited partnership, as Seller therein, and Wells Mid-Horizon Value-Added Fund I, LLC, a Georgia limited liability
company, as Purchaser therein, dated as of October 3, 2007, as amended by that certain First Amendment to Purchase and Sale Agreement dated November 1, 2007, and further amended by that certain Second Amendment to Purchase and Sale
Agreement dated November 9, 2007 and further amended by that certain Third Amendment to Purchase and Sale Agreement dated November 13, 2007 and further amended by that certain Fourth Amendment to Purchase and Sale Agreement dated
November 27, 2007 (the “Agreement”) for the purchase and sale of certain property (the “Property”) containing all that tract or parcel of real property located in Nashville, Tennessee and as more particularly described in
the Agreement. 
 WITNESSETH 
 WHEREAS, the parties desire to clarify the Closing Date; 
 NOW THEREFORE, for
and in consideration of the mutual covenants contained herein, One and No/100ths Dollar ($1.00) in hand paid and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agree as
follows: 
 1.        All terms used herein with an initial capital letter and not
otherwise defined herein shall have the meaning ascribed thereto in the Agreement. 
 2.        The first sentence of Section 2.3 of the Agreement is hereby deleted in its entirety and replaced with the following: 
 “Payment of the Purchase Price, delivery of the Special Warranty Deed and the other closing deliveries required to be made pursuant
to Section 9 hereof and the consummation of the purchase and sale transaction contemplated hereunder (the “Closing”) will take place pursuant to an escrow closing on Friday, December 14, 2007.” 
 3.        This Fifth Amendment may be executed in several counterparts, each of which shall
constitute an original and all of which together shall constitute one and the same instrument. Facsimile signatures shall be considered binding and original signatures. 
  
 [SIGNATURES CONTAINED ON FOLLOWING PAGE] 
  

 1 

 EXCEPT AS MODIFIED HEREIN, all other terms, covenants, conditions and obligations
of the Agreement shall remain in full force and effect, and are hereby ratified and confirmed by the parties. 
 IN WITNESS
WHEREOF, the parties hereto have caused this Fifth Amendment to Purchase and Sale Agreement to be executed as of the date set forth above. 
  
  

									
	SELLER:	 		 	PURCHASER:
			
	FERRARI PARTNERS, L.P., a Georgia	 		 	WELLS MID-HORIZON VALUE-ADDED
	limited partnership	 		 	FUND I, LLC, a Georgia limited liability
		 	  
 By: Ferrari Management Company,

LLC
	 		 	 company
  
 By:  Wells Investment Management
 Company, LLC, a Georgia limited

		 	      By: /s/ Chad
Ferrari                        
	 		 	 liability company, its manager

		 	      Name: Chad Ferrari
      Title: Secretary
	 		 	  
         By: /s/ Douglas P. Williams                    
         Name: Douglas P. Williams
         Title: Senior Vice President

  

 2

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