Document:

EX-10.26

 Exhibit 10.26 

[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately
with the Securities and Exchange Commission. 
 LEASE AGREEMENT 

BETWEEN 
 RP GATEWAY, LLC, A
GEORGIA LIMITED LIABILITY COMPANY 
 “LANDLORD” 

AND 
 SYNAGEVA BIOPHARMA CORP.,
A DELAWARE CORPORATION 
 “TENANT” 

AND FOLLOWING EXHIBITS 
 EXHIBIT
“A” – LEGAL DESCRIPTION & SITE PLAN 
 EXHIBIT “B” – LANDLORD’S WORK & SPECIFICATIONS

 EXHIBIT “B-1” – LANDLORD’S INTERIM COMPLETION WORK 

EXHIBIT “B-2” – PROJECT SCHEDULE 

EXHIBIT “B-3” – RESPONSIBILITY CHART RELATED TO CONSTRUCTION 

EXHIBIT “B-4” – DOCUMENT DESIGN LIST FOR TENANT (REFERENCED IN EXHIBIT “B”) 

EXHIBIT “C” – PROTECTIVE COVENANTS 

EXHIBIT “D” – MAINTENANCE, REPAIR, AND REPLACEMENT OBLIGATIONS 

EXHIBIT “E” – RIGHT OF FIRST REFUSAL 

EXHIBIT “F” – NON-OFFICE AREA 

LEASE DATED OCTOBER 22, 2013 

  
 1 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

							
	 	 	 CONTENTS
	  	PAGE #	 
			
	 1.
	 	 PREMISES
	  	 	4	  
			
	 2.
	 	 TERM
	  	 	4	  
			
	 3.
	 	 RENTAL
	  	 	5	  
			
	 4.
	 	 AGENT’S COMMISSION
	  	 	6	  
			
	 5.
	 	 UTILITY BILLS
	  	 	6	  
			
	 6.
	 	 USE OF PREMISES
	  	 	7	  
			
	 7.
	 	 MAINTENANCE, REPAIRS & REPLACEMENTS
	  	 	7	  
			
	 8.
	 	 TAXES
	  	 	9	  
			
	 9.
	 	 DESTRUCTION OF OR DAMAGE TO PREMISES
	  	 	11	  
			
	 10.
	 	 INSURANCE AND INDEMNITY
	  	 	12	  
			
	 11.
	 	 GOVERNMENTAL ORDERS
	  	 	14	  
			
	 12.
	 	 CONDEMNATION
	  	 	15	  
			
	 13.
	 	 ASSIGNMENT AND SUBLETTING
	  	 	16	  
			
	 14.
	 	 REMOVAL OF FIXTURES & EQUIPMENT
	  	 	16	  
			
	 15.
	 	 EVENTS OF TENANT DEFAULT
	  	 	17	  
			
	 16.
	 	 REMEDIES UPON DEFAULT
	  	 	17	  
			
	 17.
	 	 EXTERIOR SIGNS
	  	 	18	  
			
	 18.
	 	 ENTRY FOR CARDING, LANDLORD’S ACCESS, SECURITY
	  	 	19	  
			
	 19.
	 	 RIGHT OF FIRST REFUSAL
	  	 	19	  
			
	 20.
	 	 SNDA/ESTOPPEL
	  	 	19	  
			
	 21.
	 	 NO ESTATE IN LAND
	  	 	21	  
			
	 22.
	 	 HOLDING OVER
	  	 	21	  
			
	 23.
	 	 ATTORNEY’S FEES AND HOMESTEAD
	  	 	21	  

  
 2 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

							
			
	 24.
	 	 RIGHTS CUMULATIVE
	  	 	22	  
			
	 25.
	 	 WAIVER OF RIGHTS
	  	 	22	  
			
	 26.
	 	 DISCLOSURE OF OWNERSHIP
	  	 	22	  
			
	 27.
	 	 HAZARDOUS MATERIALS
	  	 	22	  
			
	 28.
	 	 FIXTURES, ALTERATIONS & IMPROVEMENTS; SURRENDER
	  	 	24	  
			
	 29.
	 	 PROMPT PAYMENTS
	  	 	25	  
			
	 30.
	 	 SECURITY DEPOSIT
	  	 	25	  
			
	 31.
	 	 OUTSIDE STORAGE
	  	 	26	  
			
	 32.
	 	 NOTICES
	  	 	27	  
			
	 33.
	 	 LANDLORD’S WORK
	  	 	28	  
			
	 34.
	 	 LANDLORD’S LIABILITY
	  	 	31	  
			
	 35.
	 	 LIEN INDEMNIFICATION
	  	 	32	  
			
	 36.
	 	 TIME OF ESSENCE
	  	 	32	  
			
	 37.
	 	 DEFINITIONS
	  	 	32	  
			
	 38.
	 	 GOVERNING LAW
	  	 	33	  
			
	 39.
	 	 COVENANT OF QUIET ENJOYMENT
	  	 	33	  
			
	 40.
	 	 RENEWAL OPTIONS
	  	 	33	  
			
	 41.
	 	 PROTECTIVE COVENANTS
	  	 	33	  
			
	 42.
	 	 ENTIRE AGREEMENT
	  	 	34	  
			
	 43.
	 	 ACCESS TO PREMISES PRIOR TO COMMENCEMENT DATE
	  	 	35	  
			
	 44.
	 	 SELF-HELP
	  	 	35	  
			
	 45.
	 	 CONFIDENTIALITY
	  	 	36	  
			
	 46.
	 	 EFFECT OF TERMINATION OF LEASE
	  	 	36	  

  
 3 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 LEASE 

THIS LEASE, made this 22nd day of October, 2013 (the “Effective Date”),
by and between RP GATEWAY, LLC, a Georgia limited liability company, first party (hereinafter called “Landlord”); and SYNAGEVA BIOPHARMA CORP., a Delaware corporation, second party (hereinafter called “Tenant”): 

W I T N E S S E T H : 
 1.
PREMISES 
 Landlord, for and in consideration of the rents, covenants, agreements, and stipulations hereinafter mentioned, provided for and
contained, to be paid, kept and performed by Tenant, has leased and rented, and by these presents leases and rents unto the said Tenant, and said Tenant hereby leases and takes upon the terms and conditions which hereinafter appear, the real
property containing approximately twelve (12) acres located in Oconee County, Georgia, as more particularly described on Exhibit “A” attached hereto and incorporated herein by this reference (hereinafter called
“Premises”), including two (2) to-be-constructed buildings containing approximately 35,000 square feet each, as depicted on the site plan attached as Exhibit “A”. As depicted on the site plan, one of the
buildings shall be known as the “APF Building” and one of the buildings shall be known as the “MRF Building”. 
 2. TERM

 The Tenant shall have the exclusive right to have and hold and use the Premises and all appurtenances thereto (including without limitation all
roadways and parking areas located on the Premises) for a term (the “Term”) commencing on the fifth (5th) day after the later to occur of (a) Landlord’s Interim Completion
Work (as defined below) is Substantially Complete (as defined below), and (b) Landlord notifies Tenant that Landlord’s Interim Completion Work is Substantially Complete (such date being the “Commencement Date”), and ending on the
last day of the calendar month that is one-hundred twenty-four (124) months thereafter. For purposes hereof, “Landlord’s Interim Completion Work” shall mean the work identified on Exhibit “B-1” attached
hereto and incorporated herein by this reference. For purposes hereof, Landlord’s Interim Completion Work shall be “Substantially Complete” on the date and time that Landlord has completed Landlord’s Interim Completion

  
 4 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 
Work except for minor punch list items which do not interfere with Tenant’s work or alterations on the APF Building. Notwithstanding the foregoing, Tenant shall have a license to occupy the
Premises upon execution of this Lease (the “Early Occupancy Date”) in order for Tenant to begin constructing certain improvements to the Premises (subject to any required approvals from Oconee County) pursuant to Section 43 below.

 3. RENTAL 
 Commencing on the Commencement
Date, Tenant agrees to pay to Landlord rental as follows: 
  

					
	 Months 1 – 4
	  	$	0.00 Monthly	  
	 Months 5 – 16
	  	$	36,167.00 Monthly	  
	 Months 17 – 28
	  	$	36,890.00 Monthly	  
	 Months 29 – 40
	  	$	37,628.00 Monthly	  
	 Months 41 – 52
	  	$	38,380.00 Monthly	  
	 Months 53 – 64
	  	$	39,148.00 Monthly	  
	 Months 65 – 76
	  	$	39,931.00 Monthly	  
	 Months 77 – 88
	  	$	40,730.00 Monthly	  
	 Months 89 – 100
	  	$	41,544.00 Monthly	  
	 Months 101 – 112
	  	$	42,350.00 Monthly	  
	 Months 113 – 124
	  	$	43,167.00 Monthly	  

 which rental shall be paid promptly on the first day of each month in advance during the Term. The rental and any other
amounts due by Tenant for any partial calendar month shall be prorated based on the number of days in that month. Notwithstanding anything to the contrary contained in this Lease, if Landlord’s Work (as defined in Section 33 below) is not
“substantially complete” (as defined below) on or before the fourth (4th) monthly anniversary of the Commencement Date (a) neither rental payments owed for Month 5 and
subsequent months, as applicable, pursuant to this Section 3 nor any other amounts due under this Lease (except for utilities) shall commence until the fifth (5th) day after the later to
occur of (i) Landlord’s Work is substantially complete, and (ii) Landlord notifies Tenant that Landlord’s Work is substantially complete (the day the Month 5 rental commences is herein referred to as the “Rent Commencement
Date”), and (b) the Term shall be extended to expire on the last day of the calendar month that is one-hundred twenty (120) months after the Rent Commencement Date; provided, however, that nothing herein shall waive or diminish
Tenant’s rights to rent abatement pursuant to Section 33 below. Upon the Rent Commencement Date, each of Landlord and Tenant agree to execute a rental commencement certificate of similar document upon request of the other party. For
purposes of this Lease, Landlord’s Work shall be deemed “substantially complete” at 

  
 5 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 
such time as Landlord has completed Landlord’s Work except for the (a) fire protection system, (b) minor punch list items that do not adversely affect the use or occupancy of the
Premises by Tenant or the conduct of the Tenant’s business therein, and (c) any other items with Tenant’s written consent (not to be unreasonably withheld) ((a), (b), and (c) are herein collectively referred to as the
“Remaining Landlord’s Work”). Unless otherwise agreed to by the parties in writing and except for excused delays under Section 33 below, Landlord shall use its best efforts to complete the Remaining Landlord’s Work on or
before the Project Completion Date (as defined in Section 33 below). 
 4. AGENT’S COMMISSION 

Landlord represents and warrants, that it has not engaged any broker, finder or any other person who would be entitled to any commission or fee in respect of
the execution of this Lease and any other transaction contemplated by this Lease, and Landlord agrees to indemnify and hold harmless Tenant against and in respect to any and all losses, liabilities or expenses which may be incurred by Tenant as a
result of any claim which may be asserted by any broker, finder or other person on the basis of any arrangements or agreements made or alleged to have been made on behalf of Landlord. Tenant represents and warrants, that it has not engaged any
broker, finder or any other person who would be entitled to any commission or fee in respect of the execution of this Lease other than Davidson Webster Associates, LLC (the “Broker”); and any other transaction contemplated by this Lease;
and agrees to indemnify and hold harmless Landlord against and in respect to any and all losses, liabilities or expenses which may be incurred by Landlord as a result of any claim which may be asserted by any other broker, finder or other person on
the basis of any arrangements or agreements made or alleged to have been made on behalf of Tenant. Landlord shall pay the commission and any other compensation due to Broker in connection with this transaction pursuant to a separate agreement. 

5. UTILITY BILLS 
 Commencing on the earlier of
(i) the Commencement Date, and (ii) the date Tenant’s contractor begins to install HVAC equipment onto the Premises, Tenant shall pay all utility bills incurred by Tenant, including, but not limited to, water, sewer, gas, electricity,
fuel, light and heat bills for the Premises, and Tenant shall pay all 

  
 6 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 
charges for garbage collection services or other sanitary services rendered to the Premises and used by Tenant in connection therewith. If Tenant fails to pay any of said utility bills or charges
for garbage collection or other sanitary services, Landlord may pay the same and such payment shall be added to and become part of the next rental payment due under this Lease. 

6. USE OF PREMISES 
 Tenant shall have the right
to use the Premises twenty-four (24) hours per day, seven (7) days per week for office, warehouse, manufacturing, and research facility purposes[*]
                                         and uses
ancillary thereto, and for any other uses permitted by applicable laws. The Premises shall not be used for any illegal purposes, or in any manner to create a nuisance or trespass, or in any manner to change its current operation the result of which
would be to materially change the insurance rating on the Premises, unless Tenant agrees to pay any increase in such insurance. 
 7. MAINTENANCE,
REPAIRS AND REPLACEMENTS 
 A. Landlord. Landlord agrees to keep in good order and repair, and replace when reasonably
prudent, the items set forth on Exhibit “D” attached hereto and incorporated herein, except to the extent that such repairs and replacements are rendered necessary by the negligence or actions of Tenant, its agents, employees
or invitees. As of the date that Landlord completes Landlord’s Work, Tenant shall receive exclusive control of the Premises and Landlord shall be under no obligation to inspect the Premises. Tenant shall promptly report in writing to Landlord
any defective conditions actually (not constructively) known to it which Landlord is required to repair, maintain or replace, and failure to do so shall make Tenant responsible for any increased costs which Landlord incurs due to Tenant’s
failure to promptly notify Landlord of such defective conditions actually known to it. 
 B. Tenant. Tenant shall perform all
maintenance and repairs of the buildings on the Premises listed on Exhibit “D” attached hereto, and shall make all necessary replacements to such items when reasonably necessary, except to the extent that such repairs and
replacements are rendered necessary by the 

  
 7 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 
negligence or actions of Landlord, its agents, employees or invitees. Tenant shall, at Tenant’s sole cost and expense, put, keep, replace, maintain and repair such items so that at all times
such items are in good order and repair, and Tenant shall not cause or permit any waste or deterioration to the Premises, except ordinary wear and tear. 

In the event Tenant fails to commence and diligently prosecute to completion any repairs or maintenance as required by this Lease within five
(5) business days after notice thereof from Landlord, the Landlord may, but shall not be obligated to, make said repairs or perform such maintenance, and bill Tenant for the cost of the same. Said amount shall be paid by Tenant within thirty
(30) days as part of the rental due thereon. 
 Tenant agrees to maintain a service contract on all heating, ventilating, and air
conditioning equipment on the Premises with a reputable HVAC contractor throughout the Term and any extension thereof. Tenant further agrees that, except as otherwise set forth in Section 28 below, it shall not disturb the integrity and support
provided by any demising wall and shall, at its sole cost and expense, promptly repair any damage or injury to any demising wall caused by Tenant or its employees, agents or invitees to the extent required pursuant to this Section 7. 

Except as necessary or prudent for Landlord to complete Landlord’s Work, Landlord shall not disturb any trees, plants, or other
vegetation on the Premises or buffering the visibility of the Premises. Tenant agrees, at Tenant’s expense, to maintain the landscaping as required in Exhibit “D” attached hereto in good order and repair throughout the
Term, reasonable wear and tear excepted. In the event Tenant fails to commence and diligently prosecute to completion any such items of landscaping in such condition within five (5) business days after notice of such failure from Landlord, the
Landlord may, but shall not be obligated to, perform such work and bill Tenant for the cost of same. Said amount shall be paid by Tenant within thirty (30) days as part of the rental due thereon. 

In connection with the administration of this Lease, Tenant further agrees to pay Landlord a property management fee equal to $3,600 per year,
payable in equal monthly installments of $300 at the same time monthly rental is paid by Tenant. 

  
 8 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 8. TAXES 

Commencing on the Commencement Date and continuing throughout the Term, Tenant shall, without notice or demand, as additional rent, pay and
discharge on or before the last day on which the same may be paid without penalty, all real estate taxes, together with all interest and penalties hereon, which shall or may on or after the Commencement Date be levied, assessed or imposed on or
become a lien upon or become due or payable out of or for or by reason of the Premises or any part thereof, or the improvements located thereon, or any buildings, appurtenances, or equipment now or hereafter erected or placed thereon or therein or
any part thereof (in no event will Tenant be responsible for any such real estate taxes or penalties attributed to any periods of time prior to the Commencement Date); provided, however, if at any time after the Commencement Date, any taxes are
levied or assessed by virtue of any future laws, ordinances, requirements, orders, directions, rules or regulations of the federal, state, county and city or local governments or other governmental authorities in lieu of or as a substitute for, in
whole or in part, real estate taxes to be paid by Tenant pursuant to this Section 8 above, such taxes shall constitute shall be paid by Tenant. Tenant shall further pay and discharge on or before the last day on which the same may be paid
without penalty, all assessments, rates and charges, sanitary assessments, and other governmental impositions and charges of every kind and nature whatsoever, extraordinary as well as ordinary, and each and every installment thereof, together with
all interest and penalties hereon, which shall or may during the Term be levied, assessed or imposed on or become a lien upon or grow due or payable out of or for or by reason of the Premises or any part thereof, or the improvements located thereon,
or any buildings, appurtenances, or equipment now or hereafter erected or placed thereon or therein or any part thereof. All taxes assessed or imposed in lieu of or in addition to the foregoing, shall be paid by Tenant, together with all interest
and penalties thereon, under or by virtue of all present or future laws, ordinances, requirements, orders, directions, rules or regulations of the 

  
 9 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 
federal, state, county and city or local governments and of all other governmental authorities whatsoever. Tenant shall pay all taxes and assessments which shall, prior to or during the Term be
levied, assessed, imposed, or become a lien upon the personal property of Tenant located upon the Premises. Tenant shall, within thirty (30) days after the time above provided for the payment by Tenant thereof, produce and deliver to Landlord
reasonably satisfactory evidence of such payment. 
 All such taxes and assessments for the tax years in which the Term shall commence and
terminate shall be equitably prorated between Landlord and Tenant. 
 Tenant shall have the right to contest or review in good faith by
legal proceedings, or in such other manner as it may deem suitable (which, if instituted, Tenant shall conduct at its own expense, and free of any expense to Landlord, and, if necessary, in the name of Landlord), any taxes, assessment, rate or
charge, sanitary assessment, or other governmental imposition or charge aforementioned. Notwithstanding the foregoing Tenant shall promptly pay all such items if at any time the Premises or any part thereof shall be in reasonable danger of being
foreclosed upon by reason of such nonpayment of taxes. The legal proceedings herein referred to shall include appropriate proceedings for review of tax assessments and appeals from orders therein and appeals from any judgment, decrees or orders, but
all such proceedings shall be begun as soon as reasonably possible after the imposition or assessment of any contested items and shall be prosecuted to adjudication with reasonable dispatch unless and until Tenant notifies Landlord that it intends
to cease or terminate such appeals or proceedings. In the event of any reduction, cancellation or discharge, Tenant shall pay the amount finally levied or assessed against the Premises or adjudicated to be due and payable on any such contested items
and if there shall be any refund with respect thereto, the party paying the same shall be entitled to the same. 
 It is the intention of
the parties that Landlord shall receive the rent referred to in Section 3 above free from all amounts that, by the provisions of this Section 8, are made payable by Tenant and that Tenant shall pay all costs, charges, expenses and damages
in connection therewith, except to the extent that such costs, charges, expenses and damages are caused by a failure of Landlord to promptly provide a tax bill to Tenant (if such tax bills are sent directly to Landlord instead of Tenant). 

  
 10 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 Nothing herein contained shall be construed to require Tenant to pay any inheritance, estate,
succession, transfer, gift, franchise, income, profit or excess profit, capital stock, capital levy, corporate or incorporated business tax or other similar tax that is or may be imposed upon Landlord, its successors or assigns, or upon the rent
payable by Tenant unless such taxes shall be levied instead and in lieu of real estate taxes upon the real property and improvements hereby demised. 

9. DESTRUCTION OF OR DAMAGE TO PREMISES 
 In the
event that all or any part of the buildings on the Premises shall be damaged or destroyed as a result of fire or other casualty, (a) and such damage or destruction, in tenant’s reasonable judgment, materially adversely affects the
operation of Tenant’s business in the Premises and occurs during the last year of the Term, Tenant shall have the right to terminate this Lease by providing written notice of such termination to Landlord within one-hundred (100) days after
the date of such casualty; and (b) in all events Tenant shall use commercially reasonable efforts to restore, rebuild and/or replace the Landlord’s Work to the same or better condition that existed on the date of such damage or destruction
(it being understood and agreed that Tenant shall have no obligation to restore, rebuild or replace any of Tenant’s or other improvements on the Premises other than Landlord’s Work). Tenant shall have the right to use all insurance
proceeds payable in connection with any such damage or destruction to so restore, rebuild and/or replace Landlord’s Work and any other improvements on the Premises (including without limitation the Premises and Tenant’s improvements and
personal property therein). If Tenant elects to terminate this Lease pursuant to this Section 9 above, Tenant shall transfer to Landlord an amount of the insurance proceeds actually received by Tenant for damage or destruction attributable to
Landlord’s Work to the extent Tenant has not restored, rebuilt or replaced Landlord’s Work; the remainder of such insurance proceeds shall be transferred to and become the property of Tenant. In the event Tenant is obligated to restore,
rebuild and/or replace Landlord’s Work pursuant to this Section 9, Landlord shall cooperate with Tenant in connection with such efforts by Tenant, including without limitation by executing permitting and other

  
 11 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 
documentation related to such restoration, rebuilding, and/or replacement. In the event that Landlord obtains mortgage financing or otherwise encumbers all or any portion of the Premises, such
mortgage or other encumbrance shall not interfere with Tenant’s rights or Landlord’s obligations set forth in this Section 9. Notwithstanding anything to the contrary contained in this Lease, Tenant shall have the right to receive and
keep, as its sole and exclusive property, any and all insurance proceeds from Tenant’s insurance company for Tenant’s equipment, personal property, and the improvements installed by or on behalf of Tenant. Rental shall not abate in the
event of any casualty (it being the intent that Tenant shall carry business interruption insurance to insure that Landlord receives monthly rent payments). Notwithstanding anything to the contrary contained herein, Tenant shall have no right to
terminate this Lease if such damage or destruction is caused by the negligence or willful misconduct of Tenant or its agents, employees, or invitees. 

10. INSURANCE AND INDEMNITY 
 Throughout the Term
Lease, Tenant, at Tenant’s own cost and expense and as additional rent shall: 
  

	 	(a)	 Keep, at a minimum, the buildings and ail other improvements related to Landlord’s Work, including all fixtures, insured against loss or damage
by fire with extended coverage, all such insurance to be in an aggregate amount which shall be not less than one hundred percent (100%) of the full replacement value of Landlord’s Work, without deduction for depreciation, and all such
insurance shall be carried with such insurance companies and in such form as shall be reasonably satisfactory to Landlord, and Tenant shall provide Landlord with a certificate of insurance evidencing such coverage as required in this Section 10
below. Deductibles, if any, shall be an obligation of the Tenant and in no case more than Fifty Thousand and 00/100 Dollars ($50,000.00). If Tenant fails to provide documentation of insurance coverage on Landlord’s Work as required herein, and
such failure is not cured within three (3) business days after notice from Landlord to Tenant, Landlord shall have the right to provide such coverage on behalf of Tenant at a cost not to exceed Landlord’s actual

  
 12 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

	 	
cost for such coverage for so long as Tenant does not procure such coverage. In such event, Landlord shall bill Tenant for the cost of same and such amount shall be paid by Tenant within thirty
(30) days as part of the rental due thereon. Landlord (and any mortgagee of Landlord if Landlord provides notice to Tenant) shall be named as loss payee on such policy. 

 

	 	(b)	Provide and keep in force a general public liability insurance policy with an insurance company authorized to do business in the State of Georgia. Such policy shall name the Landlord as an additional insured, and shall
be in the amount of not less than Three Million Dollars ($3,000,000) with respect to any one accident, Three Million Dollars ($3,000,000) with respect to injury or death of any one person and One Million Dollars ($1,000,000.00) with respect to
damage to property; provided, however, that such policy may be in a lesser amount if an excess liability policy or policies are carried by Tenant in such amounts that the effect of the aggregate coverage is as stated above. Such policy shall cover
the entire Premises as well as the streets, roads, avenues and sidewalks included therein, and the Tenant shall provide the Landlord with a certificate of such insurance as required in this Section 10. 

 

	 	(c)	Provide and keep in force a business interruption insurance policy to insure that Landlord continues to receive its monthly rent payments in the event the Premises become unusable for any reason. 

All insurance provided by Tenant as required by this Section 10 shall include the interest of the Landlord and any first mortgagee of the
Premises, as their respective interests may appear, and in such form as shall be reasonably satisfactory to Landlord and Tenant. All policies shall provide that loss, if any, payable thereunder with regard to coverage for Landlord’s Work, shall
be payable to Landlord and to the holder of such mortgage, as their respective interests may appear. 
 Tenant shall deliver to Landlord
customary certificates evidencing that all of the required insurance is in effect no later than the Early Occupancy Date. At least ten (10) days prior to the expiration of each such policy, Tenant shall deliver to Landlord the new certificate
for renewal insurance. 

  
 13 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 Tenant shall not violate or knowingly permit to be violated any of the conditions or
provisions of such policy. Tenant and Landlord shall cooperate in connection with the collection of any insurance monies that may be due in the event of loss. 

Each such policy (including renewal insurance) or certificate therefore issued by the insurer shall contain an agreement by the insurer that
such policy shall not be canceled without at least thirty (30) days prior written notice to Landlord. 
 Any insurance provided for in
this Section 10 may be effected by a policy or policies of blanket insurance; provided, however, that the amount of the total insurance shall be such as to furnish in protection the equivalent of separate policies in the amounts herein
required, and provided further that in all other respects, any such policy or policies shall comply with the other provisions of this Lease. 

Except as otherwise provided or limited in this Lease and except with respect to any claims for damages or property caused by the negligence
or willful misconduct of Landlord or default of Landlord’s obligations set forth in this Lease, Tenant agrees to, and hereby does, indemnify and save Landlord harmless against all claims for damages to persons or property by reason of
Tenant’s use or occupancy of Premises (including all appurtenances), and all expenses, incurred by Landlord as a result thereof, including reasonable attorney’s fees actually incurred and court costs. Except as otherwise specifically set
forth or limited in this Lease, Landlord agrees to, and hereby does, indemnify and save Tenant harmless against all loss, expense, and claims for damages to persons or property by reason of Landlord’s use or occupancy or access to the Premises
or Landlord’s default of its obligations under this Lease, and all expenses, incurred by Tenant as a result thereof, including reasonable attorney’s fees actually incurred and court costs. 

11. GOVERNMENTAL ORDERS 
 Tenant agrees, at its
own expense, promptly to comply with all laws and requirements of any legally constituted public authority during the Term with respect to its use of the Premises. In connection therewith, Tenant shall be responsible to perform or make any repairs,
alterations or improvements to the Premises in order to comply with any applicable laws or requirements that are required (i) as a result of any alterations 

  
 14 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 
performed or to be performed by Tenant, (ii) to accommodate Tenant’s employees with disabilities, (iii) as a result of Tenant’s specific use or occupancy of the Premises (as
opposed to uses or occupancy of the Premises generally by tenants or occupants, for which Landlord shall be responsible as set forth below), or (iv) as a result of any breach by Tenant of any of Tenant’s covenants or agreements under this
Lease. If any repairs, alterations, or improvements to the Premises are required to be made to the Premises in order to comply with any new laws or requirements or changes to existing laws or requirements of any legally constituted public authority
during the Term with respect to the Premises that is not listed in subsections (i)-(iv) above, then Landlord shall promptly perform or make such repair, alteration, or improvement. 

12. CONDEMNATION 
 If the whole of the Premises,
or such portion thereof as will in Tenant’s reasonable judgment materially adversely affects the operation of Tenant’s business, be condemned or taken by eminent domain or similar proceeding by any legally constituted authority for any
public use or purpose, then Tenant shall have the option to terminate this Lease within thirty (30) days after the date that title is transferred from Landlord as a result of such condemnation, taking by eminent domain or similar proceeding
and, if this Lease is so terminated, rental and other charges under this Lease shall be prorated as of said date. Any such termination shall be without prejudice to the rights of either Landlord or Tenant to recover compensation and damage caused by
such condemnation or taking eminent domain or similar proceeding. If Tenant does not so terminate this lease, rental and other charges under this Lease shall be equitably reduced. Landlord and Tenant agree that they shall not have any rights to any
award made to the other by any authority related to such condemnation or taking by eminent domain or similar proceeding notwithstanding the termination of the Lease as herein provided. If Landlord receives notice of any pending or threatened
condemnation or taking by eminent domain or similar proceeding, Landlord shall promptly deliver a copy of such notice to Tenant. Similarly, if Tenant receives notice of any pending or threatened condemnation or taking by eminent domain or similar
proceeding, Tenant shall promptly deliver a copy of such notice to Landlord. 

  
 15 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 13. ASSIGNMENT AND SUBLETTING 

Tenant shall not assign or sublease the Premises, or any part thereof, to others without the written consent of Landlord, which consent shall not be
unreasonably withheld or delayed. Assignees or sublessees of Tenant may, at the option of Landlord, become directly liable to Landlord, jointly and severally with Tenant, for all of such assignee’s or subtenant’s obligations under its
assignment or sublease during assignee’s or sublessee’s occupancy in the Premises. Tenant will be responsible for notifying assignees or sublessee’s of the provisions of this Section 13. 

Notwithstanding the foregoing provision mandating written consent of Landlord for assignments or subleases, Tenant shall have the right to
assign or sublease all or any part of the Premises without obtaining Landlord’s consent to any entity which controls or is controlled by or under common control with Tenant, or any corporation or entity which results from the merger or
consolidation with Tenant or to which Tenant sells all or substantially all of its assets. Sale or transfer of Tenant’s stock on a public stock exchange shall not be deemed to be assignment for purposes of this Section 13. 

Notwithstanding any assignment or sublease, Tenant shall remain primarily liable to Landlord under this Lease, it being understood and agreed
that nothing contained in this Section 13 (and no Landlord consent in the future) shall be construed to release Tenant from its obligations under this Lease. 

14. REMOVAL OF EQUIPMENT 
 Tenant shall prior to
the expiration of this Lease or any renewal thereof remove any and all equipment which Tenant is required to remove pursuant to Section 28 below and, in connection with such removal, Tenant shall repair to the extent reasonably practical all
damage to Landlord’s Work caused by such removal such that Landlord’s Work is restored to the condition in was in at the time of its completion, ordinary wear and tear excepted (and in no event shall Tenant be required to paint or repaint
any portion of Landlord’s Work or to repair or replace materials that are not reasonably available for purchase in Georgia). 

Landlord shall have the right to store or dispose of any of Tenant’s property remaining on the property after the termination of this
Lease or any extension or renewal thereof. Any such property shall be considered Landlord’s property and title thereto shall vest in Landlord. 

  
 16 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 15. EVENTS OF DEFAULT 

The happening of any one or more of the following events (hereinafter any one of which may be referred to as an “Event of Default”) during the Term,
or any renewal or extension thereof, shall constitute a breach of this Lease on the part of the Tenant: (1) Tenant fails to pay the rental as provided for herein within ten (10) days after receiving written notice from Landlord that such
payment is overdue; (2) Tenant abandons the Premises and fails to satisfy its obligations set forth in this Lease after any applicable notice and cure periods; (3) Tenant fails to comply with or abide by and perform any other obligation
imposed upon Tenant under this Lease after thirty (30) days’ notice from Landlord of such failure (provided that, if such failure cannot reasonably be cured within said 30 days and Tenant commences and diligently prosecutes a cure to such
failure within said 30 days, Tenant shall have such additional time as is reasonable (up to a maximum of ninety (90) days from the date of Landlord’s notice) to effect such cure and an Event of Default shall not be deemed to have
occurred); (4) Tenant is adjudicated bankrupt; (5) A receiver is appointed for Tenant’s property and such receiver is not removed within ninety (90) days after written notice from Landlord to Tenant to obtain such removal;
(6) Tenant, either voluntarily or involuntarily, takes advantage of any debtor relief proceedings under any present or future law, whereby the rent or any part thereof is, or is proposed to be, reduced or payment thereof deferred, provided that
if Tenant terminates any such involuntary proceedings within ninety (90) days, an Event of Default shall not be deemed to have occurred; (7) Tenant makes an assignment for benefit of creditors; or (8) A material portion of
Tenant’s effects are levied upon or attached under process against Tenant causing Tenant to be unable to satisfy its obligations under this Lease and such levy or attachment is not satisfied or dissolved within ninety (90) days after
written notice from Landlord to Tenant to obtain satisfaction thereof. 
 16. REMEDIES UPON DEFAULT 

Upon the occurrence of any Event of Default, Landlord may pursue any one or more of the following remedies, separately or concurrently, without any notice
(except as specifically provided hereafter) and without prejudice to any other remedy herein provided or provided by law: (a) terminate this Lease by giving written notice to Tenant and, upon such termination, Landlord shall be entitled to
recover from the Tenant damages in an 

  
 17 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 
amount equal to all rental which is then due and which would otherwise have become due throughout the remaining Term (exclusive of any unexercised renewal terms), as if this Lease had not been
terminated, after discounting such amount to present value using a discount factor of six percent (6%) and giving credit for the fair market rental value of the Premises (taking into account the average vacancy period for real property in the
Athens, Georgia market area) for the remainder of the then-current term (exclusive of any unexercised renewal terms) (it being agreed that the foregoing remedy shall not be considered a penalty); or (b) without terminating this Lease, Landlord
may enter upon and rent the Premises, in whole or in part, at the best price obtainable using commercially reasonable efforts (which for purposes hereof shall be deemed satisfied if Landlord engages a licensed commercial real estate brokerage firm),
for any term Landlord deems proper, with Tenant being liable on a month-to-month basis to Landlord for the deficiency, if any, between Tenant’s rent hereunder for remainder of the then-current term and the price obtained by Landlord for
reletting. Landlord shall use commercially reasonable efforts to mitigate its damages caused by Tenant’s default (which for purposes hereof shall be deemed satisfied if Landlord engages a licensed commercial real estate brokerage firm); or
(c) Landlord may exercise any other remedy available at law or in equity. Notwithstanding the foregoing, upon the occurrence of an Event of Default and the exercise of Landlord’s rights set forth in subparagraph (b) above, Tenant
shall have a right to engage its own commercial real estate broker to market the Premises for rent in order to identify a tenant to rent the Premises and Landlord agrees to cooperate with Tenant in connection therewith, including without limitation
by providing access to the Premises for prospective tenants to view the Premises within a reasonable time after request therefor by Tenant and by otherwise acting in good faith and in a commercially reasonable manner to review and accept or reject
prospective applications proffered by Tenant (it being understood that Landlord shall have the right to exercise commercially reasonable business judgment when accepting or rejecting any prospective applications). 

17. EXTERIOR SIGNS 
 Tenant shall have the right
to install signage on the Premises, provided such signage is in compliance with applicable law. Any and all signs placed on the Premises by Tenant shall be maintained in compliance with applicable law, and the Tenant shall be responsible to Landlord
for any damage caused by installation, use or maintenance of said signs. Tenant, upon the expiration of this Lease and any extension or renewal thereof, shall remove such signs and agrees upon removal of said signs to repair all damage incident to
such removal. 

  
 18 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 18. ENTRY FOR CARDING, LANDLORD’S ACCESS, SECURITY 

Landlord may card the Premises “For Rent” or “For Sale” no earlier than one hundred eighty (180) days before the termination of this
Lease. Landlord may enter the Premises during business hours upon forty-eight (48) hours prior notice to Tenant to exhibit same to (a) prospective tenants no earlier than one hundred eighty (180) days before the termination of this
Lease, and (b) lenders (existing or prospective) and prospective purchasers. Notwithstanding anything to the contrary contained in this Lease (y) except in the event of emergencies where prior notice to Tenant is impractical, Landlord
shall not enter the Premises for any reason or at any time except for Landlord to make repairs or replacements to, or to maintain, the Premises as required by this Lease after Tenant notifies Landlord that such repairs, replacements, or maintenance
is needed, and (z) if Landlord desires access to the Premises pursuant to this Section 18 or pursuant to any other Section of this Lease or otherwise, Landlord and Tenant shall reasonably cooperate with each other to establish a mutually
agreeable time for such access by Landlord. Tenant shall have the right (but not the obligation) to install a key-card system to control access to the Premises, security cameras, and any other security measures desired by Tenant to protect the
Premises and control access thereto, subject to Section 28 below. 
 19. RIGHT OF FIRST REFUSAL 

Tenant shall have a right of first refusal to purchase the Premises pursuant to the terms and condition set forth in Exhibit “E”
attached hereto. 
 20. SNDA/ESTOPPEL 
 Landlord
represents and warrants to Tenant that no Deed to Secure Debt or other similar lien encumbers the Premises as of the Effective Date. Landlord shall have the right to place a Deed to Secure Debt (or similar instrument) against the Premises for a loan
to be obtained by Landlord, in which case Tenant agrees to subordinate its interest in this Lease to such loan instrument provided that a commercially reasonable 

  
 19 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 
subordination, non-disturbance and attornment agreement from the applicable lender reasonably acceptable to Tenant is recorded in the applicable registry of deeds. Tenant agrees to respond to a
request by Landlord hereunder within ten (10) business days after written notice from Landlord. In addition, Tenant agrees that if Tenant sends a notice of Landlord’s default under any of the terms of this Lease to Landlord that Tenant
will also send a copy of any such notice to the holder of the Deed to Secure Debt (provided Tenant receives written notice that such holder exists and the name and address of such lender), and in the event any notice specifies some default on the
part of Landlord, and Landlord fails to cure such default within the time period Landlord is required to cure such default pursuant to this Lease, Tenant agrees to afford the holder of the Deed to Secure Debt a reasonable period of time (such period
of time to commence on the date that Tenant sends notice of Landlord’s default to such holder) to effect a cure of such default for and on behalf of Landlord, which reasonable period of time shall in no event exceed (a) thirty
(30) days longer than the period of time by which Landlord is required to cure such default pursuant to this Lease, or (b) the same period of time by which Landlord is required to cure such default pursuant to this Lease if such default
creates an emergency, affects the health or safety of the occupants of the Premises, materially adversely affects the ability of Tenant to operate its business in the Premises, or is reasonably likely to cause injury to persons or damage to the
Premises or material damage to Tenant’s equipment or property. Notwithstanding the foregoing to the contrary, in the event that Landlord does not provide to Tenant the name and address for any lender to which Tenant is required to deliver
notice pursuant to this Section 20 within five (5) business days after receipt of a written request therefor from Tenant (if no subordination, non-disturbance and attornment agreement exists), Tenant shall not be required to deliver any
notice of default to such lender pursuant to this Section 20. Tenant agrees to execute such commercially reasonable documents as may be reasonably required by the lending agency making such loan, provided such documents do not invalidate or
decrease Tenant’s rights hereunder or impose any liability or monetary or material obligations on Tenant. Within ten (10) business days after written request from Landlord or Tenant, the other party shall execute, acknowledge and deliver a
statement in writing (i) certifying that this Lease is unmodified and in full force and effect (or, if modified, stating the nature of such modification and certifying that this Lease, as so modified, is in full force

  
 20 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 
and effect), the dates to which rental and any other charges payable by Tenant hereunder are paid in advance, if any, and the amount of the Security Deposit (as defined below),
(ii) acknowledging that there are not, to their knowledge any uncured defaults on the part of the other hereunder (or specifying such defaults if any are claimed), and (iii) in case of a transfer of Landlord’s interest, attorning to
the transferee pursuant to all the terms and conditions of this Lease. The parties hereby acknowledge and agree that prospective lending agencies, transferees, or other applicable party may rely on the statement. 

21. NO ESTATE IN LAND 
 This Lease shall create
the relationship of Landlord and Tenant between the parties hereto; no estate shall pass out of Landlord. Tenant has only a usufruct, not subject to levy and sale and not assignable by Tenant except as otherwise set forth in this Lease. 

22. HOLDING OVER 
 If Tenant remains in possession
of the Premises after the expiration of the term hereof, with Landlord’s acquiescence and without any express agreement of parties, Tenant shall be a tenant at will at one hundred twenty-five percent (125%) of the rental rate which is in
effect at end of the Term; and there shall be no renewal of this Lease by operation of law. If Tenant remains in possession of the Premises after expiration of the term hereof without Landlord’s acquiescence, and Landlord notifies Tenant in
writing on or before the expiration of the term hereof that Landlord does not so acquiesce, then Tenant shall be a tenant at sufferance and, commencing on the date following the date of such expiration, the monthly rental payable pursuant to
Section 3 hereof shall, for each month or fraction thereof during which Tenant so remains in possession, be twice the monthly rental otherwise payable under Section 3 hereof. 

23. ATTORNEY’S FEES AND HOMESTEAD 
 If any
rent or other sum due and payable under this Lease is collected by or through an attorney at law, Tenant agrees to pay Landlord’s reasonable attorney’s fees in connection with such collection. If Landlord or Tenant brings an action in law
or in equity to enforce the terms and provisions of this Lease, the prevailing party as determined by the court in such action shall be entitled to recover reasonable attorneys’ fees actually incurred and court costs. Tenant waives all
homestead rights and exemptions which Tenant may have under any law as against any obligation owing under this Lease. 

  
 21 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 24. RIGHTS CUMULATIVE 

All rights, powers and privileges conferred hereunder upon parties hereto shall be cumulative and not restrictive of those given by law. 

25. WAIVER OF RIGHTS 
 No failure of Landlord or
Tenant to exercise any of its rights or remedies in connection with this Lease, or to insist upon strict compliance by the other of its obligations in this Lease, and no custom or practice of the parties at variance with the terms hereof, shall
constitute a waiver of such right, remedy or obligation to demand exact compliance with the terms hereof. 
 26. DISCLOSURE OF OWNERSHIP 

The owner of the Premises is RP GATEWAY, LLC, a Georgia limited liability company, which has an address of 4920 North Royal Atlanta Drive, Tucker, Georgia
30084, and the person authorized to manage the Premises is Elbert Rivers, whose address is 4920 North Royal Atlanta Drive, Tucker, Georgia. Service of process and demands and notices as to the Landlord shall be sent in accordance with
Section 32 below. 
 27. HAZARDOUS MATERIALS 

Tenant shall not use, store or dispose in or on, the Premises, any Hazardous Material (as defined below) except in compliance with all applicable laws. Tenant
shall (a) promptly remediate a Release of Hazardous Materials caused by Tenant, its agents, employees or invitees to the extent required by applicable laws, and (b) indemnify and hold Landlord harmless from any and all claims, demands,
liabilities, costs, expenses, penalties, damages and losses resulting from such Release of Hazardous Materials on the Premises, including, without limitation, reasonable attorney’s fees actually incurred. Landlord shall (y) promptly
remediate a Release of Hazardous Materials not caused by Tenant, its agents, employees or invitees to the extent required by applicable laws, and (z) indemnify and hold Tenant harmless from any and all claims, demands, liabilities, costs,
expenses, penalties, damages and losses resulting from such Release of 

  
 22 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 
Hazardous Materials if such Release was caused by Landlord. Notwithstanding the foregoing, in the event that Landlord or Tenant are obligated to remediate a Release or to indemnify the other
pursuant to this Section 27, the parties will work in good faith and cooperate with each other in connection with any such remediation, provided that the party not responsible for the remediation or indemnity shall not be obligated to incur any
material cost in connection with such good faith and cooperation. Tenant and Landlord further covenant that they will not (a) bury nor inject, nor pour upon the surface or in or upon the Premises or into any public or private sewer or drainage
facility, any Hazardous Material in violation of law, or (b) dig, drill or bore below ground level, nor install any underground storage tanks except as required by law or other government authority without the prior written consent of the
other, which consent shall not be unreasonably withheld, conditioned or delayed. If Hazardous Materials appear on or under the Premises and are not the result of the actions of Landlord or Tenant (or their respective agents, employees or invitees),
then Landlord and Tenant shall work in good faith and cooperate with each other to cause the party who caused the Hazardous Materials to appear on or under the Premises to remove them to the extent required by Georgia law and to the extent required
for Tenant to continue to conduct its business on the Premises, provided that (a) the costs and expenses incurred in connection therewith shall be borne by Landlord, and (b) Tenant shall not be required to incur any material costs in
connection with such cooperation. The term “Hazardous Materials” as used in this Lease means any hazardous or toxic material, substance or waste as those or similar terms are defined and regulated under any statute, law, ordinance, rule or
regulation of any local, state or federal authority having jurisdiction over the Premises or its use, including but not limited to any hazardous or toxic material, substance or waste which is (a) defined as a hazardous substance under
Section 311 of the Federal Water Pollution Control Act (33 U.S.C. Section 1317) as amended; (b) defined as a hazardous waste under Section 1004 of the Federal Resource Conservation and Recovery Act (42 U.S.C. Section 6901
et. seq.) as amended; or (c) defined as a hazardous substance under Section 101 of the Comprehensive Environmental Response, Compensation and Liability Act, (42 U.S.C. Section 9601 et. seq.) as amended. The provisions hereof shall
survive the termination of the Lease. The term “Release” in this lease means a release, spill, disposal, discharge, or leak of Hazardous Materials at, in, on, under the Premises. 

  
 23 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 28. FIXTURES, ALTERATIONS AND IMPROVEMENTS; SURRENDER 

Tenant shall have the right to make alterations and improvements to the Premises without Landlord’s written consent, provided that Tenant complies with
the provisions of this Section 28. Notwithstanding the foregoing to the contrary, Tenant shall not make any alterations or improvements to Landlord’s Work without Landlord’s prior written consent, which consent shall not be
unreasonably withheld, conditioned or delayed. At the expiration or termination of this Lease, Tenant shall remove all of Tenant’s moveable property, trade fixtures, and process equipment from the Premises and Tenant may remove ALL OR NONE of
the interior walls, lab space and improvements and alterations located in the shaded portion (the “Non-Office Area”) of the APF Building and the MRF Building shown on Exhibit “F” attached hereto and hereby
incorporated herein by this reference. Notwithstanding the foregoing, Landlord shall have the right to elect, upon written notice delivered to Tenant at least one hundred eighty (180) days prior to the expiration of the Term, that Tenant remove
everything from the Non-Office Area from the floor of each building to the bottom of the bar joist of the ceiling no later than the expiration of the Term. The foregoing election is an “all or nothing” election and shall apply only to the
Non-Office Area. With respect to the balance of the improvements located in the APF Building and the MRF Building (as shown on Exhibit “F”), Tenant shall, after removing Tenant’s moveable property, trade fixtures and
process equipment, leave such space in broom clean condition upon the expiration of this Lease. 
 In connection with any removal under this
Section 28, Tenant shall repair to the extent reasonably practical all damage to Landlord’s Work caused by such removal such that Landlord’s Work is restored to the condition in was in at the time of its completion, ordinary wear and
tear excepted (and in no event shall Tenant be required to paint or repaint any portion of Landlord’s Work or to repair or replace materials that are not reasonably available for purchase in Georgia). Should this Lease terminate for any reason
before the then-existing Term has expired, the aforesaid 180 day period shall be adjusted to read “within 30 days after the termination of this Lease” so that Landlord has a reasonable opportunity to require Tenant to remove all of its
alterations and improvements from the Premises; in such event, Tenant shall be given access to the Premises at no charge for sixty (60) days after such termination in order for Tenant to fulfill its obligations set forth in this
Section 28; provided that such free access shall not constitute a waiver by Landlord of any of its rights with respect to any 

  
 24 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 
default by Tenant. For the avoidance of doubt, it is agreed that the intent of the above language is to provide that, if the alterations and improvements in the Non-Office Area are removed from
the Premises by Tenant as set forth above (either at Tenant’s election or due to Landlord’s request), then all of such alterations and improvements shall be removed from the Non-Office Area from the floor of each building to the bottom of
the bar joist of the ceiling. 
 29. PROMPT PAYMENTS 

If any payment (a) of monthly rental is not received by Landlord within ten (10) days after such payment is due, or (b) of any other amount due
and payable by Tenant under this Lease is not received by Landlord within thirty (30) days after invoice by Landlord therefor, such payment shall bear a handling fee of five percent (5%) of the amount due to cover expenses incurred by
Landlord such as bookkeeping, personnel, processing and other costs not contemplated hereunder and incapable of exact computation; provided, however, Tenant shall not be responsible to pay such handling fee the first time in each twelve
(12) month period under this Lease that such handling fee is due. Landlord and Tenant agree that said fee represents a fair and reasonable estimate of Landlord’s expenses. Tenant shall remit payment of such handling fee within thirty
(30) days after receiving a bill therefor from Landlord. The handling fee shall be in addition to the remedies available to Landlord pursuant to Section 16 and shall in no way be construed to limit those remedies. 

30. SECURITY DEPOSIT 
 As security for the
faithful performance by Tenant of all of the terms and conditions upon the Tenant’s part to be performed, Tenant has deposited cash with Calloway Title & Escrow, LLC (“Escrow Agent”) this day in the amount of One Million Two
Hundred Ninety-Seven Thousand One Hundred Sixty Seven and 00/100 Dollars ($1,297,167.00), which amount represents a deposit for first month’s rent due under this Lease (the “First Month’s Rental Deposit”) in the amount of Thirty
Six Thousand One Hundred Sixty-Seven and 00/100 Dollars ($36,167.00) and a security deposit (the “Security Deposit”) in the amount of One Million Two Hundred Sixty Thousand and 00/100 Dollars ($1,260,000.00). Provided Tenant is not in
default under this Lease, Escrow Agent shall disburse to Landlord the First Month’s Rental Deposit when the same is due upon written notice 

  
 25 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 
from Landlord (with a copy to Tenant) certifying that same is due and the Security Deposit shall be held by Escrow Agent as security through the Term and shall be returned to the Tenant with any
interest earned thereon within thirty (30) days after the expiration of the term herein, provided the Premises is returned to the Landlord in the condition required under this Lease. If an Event of Default by Tenant occurs, Landlord shall have
the right to use and apply the Security Deposit to cure such Event of Default, and Escrow Agent shall be entitled to disburse funds to Landlord upon receipt of a written notice from Landlord to Escrow Agent and Tenant certifying that an Event of
Default has occurred and is continuing. Escrow Agent shall incur no liability hereunder for relying on such certification received from Landlord. Fees for the Escrow Agent to hold the Security Deposit shall be paid by Tenant and will not exceed
three hundred and 00/100 dollars ($300.00) per year. The Escrow Agent shall deposit the Security Deposit in an interest bearing, FDIC insured escrow account at a bank reasonably acceptable to Tenant. Provided no continuing Event of Default exists,
Escrow Agent shall return One Hundred Five Thousand and 001/00 Dollars ($105,000.00) of the Security Deposit to Tenant within thirty (30) days after each anniversary of the Term. Tenant acknowledges and agrees that the Security Deposit
(a) is being made by Tenant because Landlord has expended funds for prepare the Premises for Tenant (including without limitation to acquire the Premises and construct Landlord’s Work) and may be used and applied by Landlord to cure any
and all Events of Default by Tenant and for costs, expenses and damages caused by Tenant to which Landlord is entitled to reimbursement pursuant to the terms of this Lease, (b) subject to applicable law, is not and shall not be deemed an asset
of Tenant in the event of any bankruptcy or similar filing by Tenant, and (c) subject to applicable law, shall be immediately transferred and retained by Landlord in the event Tenant files for bankruptcy or similar proceeding, provided that the
Security Deposit continues to be subject to and applied in accordance with the terms of this Lease. 
 31. OUTSIDE STORAGE 

Tenant shall have the right to store any materials, trade inventory, refuse or other items outside the buildings, provided that such storage complies with all
applicable laws. 

  
 26 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 32. NOTICES 

Any notice given by either Landlord or Tenant to the other under this Lease shall be sufficient if given in accordance with the requirements of this
Section 32; provided, however, that any notice which is expressly required by any provision of this Lease (“Required Notice”), whether given by Landlord or Tenant, shall not be valid, effective or properly given unless given strictly
in accordance with this Section 32. Landlord and Tenant agree that the foregoing requirement for strict compliance with this Section 32, with respect to Required Notices, is a material element of this Lease which may not be altered
verbally or by course of conduct or dealing between Landlord and Tenant and which will not be satisfied by substantial compliance. Each notice to be given hereunder shall be given by (i) placing the notice in the United States mail, certified
or registered, properly stamped, (ii) delivered by fax transmission, provided that such notice is also delivered pursuant to another method set forth in this Section 32, (iii) delivered by overnight delivery service such as FedEx or
UPS, or (iv) by hand delivery, in each case addressed to the location shown below or such other addresses as the respective party may direct in writing to the other. Such notice shall be deemed effective (A) three (3) business days
after such placing in the mail when delivered by U.S. Mail service, (B) on the day actually delivered by an overnight delivery service if a business day, or, if not a business day, the first business day after such delivery (C) when
delivered by fax, upon confirmation of the completion of the fax provided such fax is sent on a business day or, if not, then on the first business day after such fax is sent, or (D) upon such hand delivery if delivered on a business day, or,
if not delivered on a business day, then the first business day after such delivery. Rejection or other refusal by the addressee to accept or the inability of the United States Postal Service or delivery service to deliver because of a changed
address of which no notice was given shall conclusively constitute receipt of the notice sent. Either Landlord or Tenant shall have the right from time to time to change the address or individual’s attention to which notices to it shall be sent
by giving to the other at least ten (10) days prior notice thereof. The addresses of Landlord and Tenant shall be as follows: 
  

					
	Notice to Landlord:	  	 RP GATEWAY, LLC
 4920 North Royal Atlanta
Drive
 Tucker, Georgia 30084
 Attn: Elbert Rivers

Fax: (770) 491-1387

  
 27 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

					
			
		 	With a copy to:	  	 McClure & Kornheiser, LLC
 6400 Powers
Ferry Road, Suite 150
 Atlanta, Georgia 30339
 Attention:
Michael P. Kornheiser, Esq.
 Fax: (678) 388-2690

			
		 	With a copy to:	  	Any holder of a Deed to Secure Debt as required pursuant to Section 20 above.
		
	Notice to Tenant:	  	 Synageva Biopharma Corp.
 33 Hayden
Avenue
 Lexington, MA 02421
 Attn: Legal Department

Fax: (781) 357-9901

			
		 	With a copy to:	  	 Mintz Levin Cohn Ferris Glovsky and Popeo, PC

One Financial Center
 Boston, MA 02111

Attention: Allan Caggiano, Esq.
 Fax: (617) 542-2241

 33. LANDLORD’S WORK 

Landlord shall complete in a good, workmanlike, and diligent manner the work described on the attached Exhibit “B” and Exhibit “B-1”, which is attached hereto and incorporated herein by this reference (hereinafter collectively referred to as the “Landlord’s Work”) in accordance with all
applicable laws and pursuant to the plans and specifications referenced on Exhibit “B” and Exhibit “B-1” (the “Approved Plans and Specifications”) within the timeframes set forth on
the Project Schedule (defined below). As stated in Section 2 above, the portion of Landlord’s Work described on Exhibit “B-1” is herein referred to as “Landlord’s Interim Completion Work”. Attached as
Exhibit “B-2” hereto and incorporated herein by this reference is a project schedule containing scheduling dates in connection with the planned construction of the improvements (the “Project Schedule”) which
includes work to be performed by both Landlord and Tenant on or before certain scheduled dates (which dates may be modified as set forth in this Lease), all as more particularly shown on the Project Schedule and the responsibility chart attached as
Exhibit “B-3” hereto and 

  
 28 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 
incorporated herein by this reference. Landlord shall use commercially reasonable and diligent efforts to Substantially Complete Landlord’s Interim Completion Work on or before
February 7, 2014 (the “Interim Completion Date”) and all of Landlord’s Work on or before July 8, 2014 (the “Landlord’s Work Completion Date”), which dates shall automatically be extended on a day for day basis
pursuant to this Section 33 below. 
 In order to incentivize Landlord to Substantially Complete Landlord’s Interim Completion
Work on or before the Interim Completion Date, Tenant agrees to pay to Landlord, in addition to all other amounts due under this Lease, One Thousand Two Hundred Five and 00/100 Dollars ($1,205.00) per day for each day that Landlord’s Interim
Completion Work is Substantially Complete prior to the Interim Completion Date. The incentive payment shall be made to Landlord with Tenant’s first payment of monthly rent due after substantial completion of Landlord’s Work (for the
avoidance of doubt, the incentive payment will be due at the same time that Tenant’s second payment of monthly rent is due under this Lease since the first payment of monthly rent is being deposited with Landlord upon execution of this Lease).
For purposes of Landlord’s right to receive the incentive payment only, it is understood and agreed that the Interim Completion Date shall not be extended for force majeure delays which cause Landlord to fail to Substantially Complete
Landlord’s Interim Completion Work. 
 In the event that a force majeure event or a delay caused by Tenant or its agents, employees or
invitees (including, without limitation, delays by Tenant in the completion of Tenant’s work set forth on the Project Schedule or delays caused by Tenant’s change orders) causes a delay in the Substantial Completion of Landlord’s
Interim Completion Work or substantial completion of Landlord’s Work, the Interim Completion Date and Landlord’s Work Completion Date, as applicable, shall be automatically extended one day for each day of such delay so caused. In the
event that a force majeure event or a delay caused by Landlord or its agents, employees or invitees causes a delay in the completion of Tenant’s work set forth on the Project Schedule, the time periods set forth on the Project Schedule for
Tenant’s work shall be extended by one day for each day of such delay so caused and such delay shall not be deemed to be a delay by Tenant (it being understood that a force majeure event could cause a delay to both Tenant and Landlord
simultaneously). 

  
 29 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 In the event that Landlord’s Interim Completion Work is not Substantially Complete on or
before Interim Completion Date or all of Landlord’s Work is not substantially complete on or before the Landlord’s Work Completion Date, then (a) all rent and other amounts due by Tenant under this Lease (except for payment of
utilities) shall abate for two (2) days for each day after the Interim Completion Date that Landlord’s Interim Completion Work is not Substantially Complete and two (2) days for each day after the Landlord’s Work Completion Date
that all of Landlord’s Work is not substantially complete (which rent abatements shall be in addition to, and not in lieu of or concurrent with, the free rent during the first four (4) months of the Term as reflected in Section 3
above); provided, however, that if Landlord’s Interim Completion Work is not Substantially Complete by the Interim Completion Date and Tenant’s abatement right set forth herein becomes effective, then the date that Landlord must
substantially complete all of Landlord’s Work shall be automatically extended to the date that is one hundred thirty-five (135) days after Landlord’s Interim Completion is Substantially Completed (the “Project Completion
Date”). In addition, if Landlord’s Interim Completion Work is not Substantially Complete on or before the sixtieth (60th) day after the Interim Completion Date or if all of
Landlord’s Work is not substantially complete on or before the sixtieth (60th) day after the Landlord’s Work Completion Date, Tenant shall have the right and option upon written
notice to Landlord to (i) require Landlord to cease completion of any or all portions of Landlord’s Interim Completion Work or Landlord’s Work (as applicable), and (ii) complete such work itself, in which case Landlord shall
reimburse Tenant upon demand for all reasonable costs and expenses incurred by Tenant in connection with the completion of such work or, at Tenant’s option, Tenant may offset such costs and expenses against rental and amounts due by Tenant to
Landlord under this Lease until Tenant is fully reimbursed. If Tenant elects to complete Landlord’s Interim Completion Work or Landlord’s Work as aforesaid, then Tenant shall use commercially reasonable efforts to promptly perform and
complete such work. If Landlord believes in good faith that Tenant is failing to use such commercially reasonable efforts to promptly perform and complete such work as aforesaid, Landlord shall send written notice to Tenant specifying such failure
and if Tenant fails to commence commercially reasonable efforts within three (3) business days after receipt of such notice, then the two (2) day per day rental abatement shall cease. 

  
 30 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 Tenant acknowledges that Landlord’s Work will be performed by John W. Rooker and
Associates, Inc. (“Contractor”), which is an affiliate of Landlord. Landlord’s Work shall be warranted by the Contractor for a period of one (1) year. Pursuant to this Section 33 below, Tenant shall have the right to require
or direct reasonable departures by Contractor from the Approved Plans and Specifications (including substitution of materials) (the “Altered Work”), but Tenant shall not have the right to require Landlord to use any particular contractor
or subcontractor. With respect to any requirement or direction for Altered Work by Tenant (a) such request shall be in writing from Tenant to Landlord, (b) Tenant shall pay any increased costs incurred by Landlord in connection with such
departure, and (c) the reasonable delay (if any) caused by such Altered Work shall constitute a Tenant delay. If any Altered Work requested by Tenant will create any such delay, Landlord shall promptly notify Tenant of the anticipated number of
days of delay that such Altered Work will cause and Tenant shall have the right to rescind its request for such Altered Work; and if Tenant so rescinds such request, Tenant shall not be deemed to have caused any delay and the Interim Completion Date
and the Landlord’s Work Completion date shall not be extended as a result of same. 
 Notwithstanding anything to the contrary
contained in this Lease, in the event Landlord requests any approval, consent or other information from Tenant in connection with any portion of Landlord’s Work, Tenant shall not be deemed to have caused any delay (and no dates herein shall be
extended as a result of same) except to the extent Tenant fails to respond to such a request for approval or consent within three (3) business days after the date that Landlord makes such request. 

34. LANDLORD’S LIABILITY 
 If Landlord is in
default with respect to its obligations under this Lease (a) for three (3) business days after written notice to Landlord if such default creates a safety or health hazard or adversely affects the operation of Tenant’s business on the
Premises, or (b) for thirty (30) days (or such longer period of time as is necessary, but not to exceed 90 days, if such default cannot reasonably be cured within 30 days and Landlord commences and diligently prosecutes a cure to such
default within said 30 days) after written notice to Landlord if such default does not create a safety or health hazard and does not adversely affect the operation of Tenant’s business on the Premises, Tenant shall have all rights and remedies
available at 

  
 31 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 
law and in equity, provided that any monetary damages suffered by Tenant, if any, shall be satisfied solely from (and limited to the amount of) Landlord’s equity in and to the Premises and
the income and insurance proceeds derived from the Premises from time to time. It is expressly understood and agreed that Landlord’s liability under the terms of this Lease shall in no event exceed the amount of its interest in and to the
Premises and any insurance or other proceeds related thereto. In no event shall any partner of Landlord nor any joint venture in Landlord, nor any officer, director, member or shareholder of Landlord or any such partner or joint venture of Landlord
be personally liable with respect to any of the provisions of this Lease Upon sale of the Premises by Landlord and assignment of this Lease by Landlord, Landlord shall be released from its obligations set forth in this Lease (and Tenant agrees to
look to such successor for satisfaction of all of such obligations) arising after the date of such transfer and assignment provided that Landlord’s transferee and assignee assumes such obligations in writing. 

35. LIEN INDEMNIFICATION 
 Landlord and Tenant
warrant to the other that they will not cause any liens to be attached to the Premises. However, to the extent a lien is so attached, such lien shall be promptly removed or bonded by the party causing such lien, provided that neither party shall
have an obligation to remove or bond over such lien if such party has commenced and is diligently prosecuting a contest to such lien in good faith and such contest does not adversely affect the other party’s interest in the Premises. For the
avoidance of doubt, if the lien causes Landlord to be in default (or potential default with the giving of notice) under a loan secured by the Premises, then Landlord or Tenant (whichever is responsible for such lien) must promptly remove or bond off
such lien. 
 36. TIME OF ESSENCE 
 Time is of
the essence of this Lease. 
 37. DEFINITIONS 

“Landlord” as used in this Lease shall include first party, its heirs, representatives, assigns and successors in title to the Premises or any
portion thereof. “Tenant” shall include second party, and if this Lease shall be 

  
 32 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 
validly assigned or sublet, shall include also Tenant’s assignees or sublessees, as to the Premises covered by such assignment or sublease. “Landlord” and “Tenant”
include male and female, singular and plural, corporation, partnership or individual, as may fit the particular parties. 
 38. GOVERNING LAW

 Both parties agree that the laws of the State of Georgia will govern this Lease. 

39. COVENANT OF QUIET ENJOYMENT 
 So long as no
Event of Default by Tenant exists, Landlord agrees that Tenant shall be entitled to quiet enjoyment of the Premises and Tenant’s enjoyment of the Premises shall not be hindered or molested by Landlord or any party acting by, through or under
Landlord during the Term. 
 40. RENEWAL OPTIONS 

Tenant shall have the option to renew this Lease, provided no Event of Default exists at the time of Tenant’s exercise of such renewal option, for two
(2) additional terms of five (5) years each (each an “Extension Term”; collectively, the “Extension Terms”), commencing upon the expiration of the initial term and the first renewal term, as applicable, upon at least
One Hundred Eighty (180) days prior written notice to Landlord of Tenant’s election to exercise an option. Each such renewal term shall be on the same terms and conditions of this Lease, except that the agreed upon monthly rental rate
during the first Extension Term shall be $46,375.00 per month and the rental rate during the second Extension Term shall be $48,125.00 per month. 

41. PROTECTIVE COVENANTS 
 This Lease shall be
subject to the terms and provisions of that the Declaration of Covenants, Restrictions and Easements for Gateway Business Technology Park attached hereto as Exhibit “C” (the “Declaration”). Landlord and Tenant
acknowledge and agree that they will comply with the terms of the Declaration applicable to the extent of each party’s use and operation of the Premises. Pursuant to Section 2.03 of the Declaration, as long as this Lease is in effect and
Tenant remains in possession of the Premises (Tenant shall be deemed to be in possession of the Premises during any temporary vacation thereof, including without limitation in connection with any construction or casualty), Landlord hereby assigns
the voting rights appurtenant to its 

  
 33 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 
Parcel (as defined in the Declaration) to Tenant, and, at the request of Tenant, Landlord shall send notice to the Association (as defined in the Declaration, the “Association’’)
notifying the Association of such assignment as required pursuant to said Section 2.03; if the Premises described in Exhibit A attached hereto does not include all of the property owned by Landlord that is subject to the Declaration, Exhibit A
shall automatically be amended to include any such property not included (at no additional cost to Tenant) so that Landlord is permitted to assign such voting rights to Tenant pursuant to the requirements of Section 2.03 of the Declaration.
Notwithstanding such assignment, Landlord agrees that it will not, or cause any other person or entity to, during the Term vote to amend the Declaration or take any other action as an Owner (as defined in the Declaration) or with respect to the
Declaration or the Association that will have an adverse impact on Tenant or the use or operation of the Premises by Tenant. After the completion of all of Landlord’s Work and Tenant’s improvements set forth on Exhibits B, B-1, B-2, B-3,
and B-4 attached hereto, Landlord shall request and obtain a Certificate of Compliance from the Association pursuant to Section 4.11 of the Declaration. Tenant shall have the right (but not an obligation) throughout the Term to enforce the
Declaration against any party in violation thereof (and Landlord hereby appoints Tenant it’s attorney in fact, coupled with an interest, for such purposes) and Landlord agrees to cooperate in such regard (at no material cost to Landlord),
including without limitation by executing documents requested by Tenant and appearing at hearings. 
 42. ENTIRE AGREEMENT

 This Lease contains the entire agreement of the parties hereto with respect to the matters contained herein and, with respect thereto, no
representations, inducements, promises or agreements, oral or otherwise, between the parties, not embodied herein, shall be of any force or effect. This Lease may be modified only by an agreement in writing, executed by all of the parties hereto. No
failure of Landlord or Tenant to exercise any power given Landlord hereunder, or to insist upon strict compliance by the other with its obligations in this Lease, and no custom or practice of the parties at variance with the terms of this Lease
shall constitute a waiver of such party’s right to demand exact compliance with the terms hereof. 

  
 34 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 43. ACCESS TO PREMISES PRIOR TO COMMENCEMENT DATE 

Insofar as this Section 43 conflicts with any other provisions in this Lease, the following shall control: Tenant shall be entitled to occupy the
Premises on a non-exclusive basis with Landlord as of the Early Occupancy Date in order to install Tenant’s trade fixtures and equipment and to make improvements and alterations and otherwise prepare the Premises for Tenant’s business.
Notwithstanding anything to the contrary contained in this Lease, no rental or other amounts due under this Lease shall be due or payable by Tenant between the Early Occupancy Date and the Rent Commencement Date, except for the payment of utilities
as set forth in this Lease; provided, however, that Landlord and Tenant agree to comply with all of the other obligations set forth in this Lease. During the construction of Landlord’s Work, Tenant agrees to use good faith, commercially
reasonable efforts not to interfere with Landlord as it completes construction of its respective work and improvements to the Premises. Landlord and Tenant shall access the Premises at their own risk and acknowledge that the other will be completing
certain construction inside or outside the Premises. In the event that Landlord’s or Tenant’s work within or outside the Premises interferes with the ability of the Landlord to perform Landlord’s Work, the parties shall reasonably
cooperate and coordinate with each other to avoid such interference and, if such interference cannot be avoided, Tenant shall temporarily stop its work causing such interference until Landlord completes the work with which Tenant is interfering and
Landlord shall use commercially reasonable and diligent efforts to complete such work. Tenant agrees to comply with any reasonable rules established by Landlord while Landlord is working on the Premises. With respect to any work performed by Tenant
on the Premises, Tenant agrees to cause such work to be performed in a good and workmanlike manner. Landlord and Tenant shall obtain customary lien waivers from all contractors and subcontractors who perform work on the Premises on behalf of such
party. Upon request of the other party, Landlord and Tenant shall provide copies of such lien waivers. In addition, upon the request of the other party, Landlord and Tenant shall provide such customary affidavits related thereto requested by a title
company issuing a date-down endorsement to their respective title insurance policies. 
 44. SELF-HELP. 

If Landlord fails to perform its obligations under this Lease, and such failure continues for (30) days after

  
 35 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 
notice from Tenant (or 3 business days if such failure causes an emergency or health or safety hazard or materially and adversely affects the operation of Tenant’s business on the Premises),
Tenant may (but shall not be required to do so) cure such failure by Landlord, and Landlord shall pay to Tenant the reasonable and actual out-of-pocket costs incurred by Tenant in making such repairs within thirty (30) days after demand
therefor. If Landlord shall default in any such payment, Tenant shall be entitled to deduct the cost thereof from the rent. 

45. CONFIDENTIALITY. 

Landlord at all times shall keep the existence of this Lease, Tenant’s occupation of the Premises, and all information related to or concerning Tenant
strictly confidential and shall not disclose same to any person or entity except on a “need to know” basis to its employees, members, managers, accountants, attorneys, advisors, agents, contractors, governmental entities (for permitting
purposes), potential purchasers and potential lenders. If Landlord desires to disclose any such information to the aforementioned parties (other than its attorneys, accountants, governmental entities, or potential lenders), Landlord shall only do so
after it has received an executed confidentiality agreement, enforceable by Tenant as a third-party beneficiary, requiring that such party keep all such information strictly confidential. The foregoing shall not be applicable to disclosure of
information required by applicable law. 
 46. EFFECT OF TERMINATION OF LEASE. No termination of tis Lease prior to the normal
ending thereof, by lapse of time or otherwise, shall affect Landlord’s right to collect rent for the period prior to termination hereof. 

[BALANCE OF PAGE INTENTIONALLY LEFT BLANK] 

  
 36 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 IN WITNESS WHEREOF, the parties herein have hereunto set their hands and seals as of
the day and year first above written. 
  

					
	LANDLORD:
	
	RP GATEWAY, LLC, A GEORGIA LIMITED LIABILITY COMPANY
		
	BY:	 	2011 WINSTON MANAGEMENT COMPANY, LLC, a Georgia limited liability company, its Manager
			
	By	 	/s/ Elbert Rivers	 	[SEAL]
			
	Name:	 	 Elbert Rivers
	 	
			
	Title:	 	 President
	 	
	
	TENANT:
	
	SYNAGEVA BIOPHARMA CORP., A DELAWARE CORPORATION
			
	By:	 	  
	 	
			
	Name:	 	  
	 	
			
	Title:	 	  
	 	
			
		 	[CORPORATE SEAL]	 	

  
 37 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 IN WITNESS WHEREOF, the parties herein have hereunto set their hands and seals as of the day and year
first above written. 
  

					
	LANDLORD:
	
	RP GATEWAY, LLC, A GEORGIA LIMITED LIABILITY COMPANY
		
	BY:	 	2011 WINSTON MANAGEMENT COMPANY, LLC, a Georgia limited liability company, its Manager
			
	By:	 	 	 	[SEAL]
			
	Name:	 	  
	 	
			
	Title:	 	  
	 	
	
	TENANT:
	
	SYNAGEVA BIOPHARMA CORP., A DELAWARE CORPORATION
			
	By:	 	/s/ Stephen Mahoney	 	
			
	Name:	 	 Stephen Mahoney
	 	
			
	Title:	 	 VP, General Counsel
	 	
			
		 	[CORPORATE SEAL]	 	

  
 38 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 EXHIBIT “A” 

All that tract or parcel of land lying in and being a part of the 240th GMD of Oconee County, Georgia,
containing 12.616 acres and being shown as Tract 1 on an ALTA/ACSM Land Title Survey by Ben McLeroy and Associates, Inc. for Rooker Company dated July 17, 2013, last revised September 23, 2013, and being more particularly described as
follows and shown on said survey attached hereto: 
 Commence at a 1/2 inch reinforcing rod situated at the point of intersection formed by the southerly
right of way line of Aiken Road (80’ R/W) and the westerly right of way line of McNutt Creek Road (80’ R/W), said 1/2 inch reinforcing rod being the TRUE POINT OF BEGINNING; run thence the following courses and distances along the westerly
right of way line of McNutt Creek Road: (i) South 39 degrees 21 minutes 10 seconds West 98.40 feet to a point, (ii) 151.27 feet along and around a curve with a counter-clockwise rotation and a radius of 5813.02 feet, the chord measurement
thereof being South 38 degrees 36 minutes 26 seconds West 151.27 feet to a 1/2 inch reinforcing rod; thence leaving said right-of-way the following courses and distances: (i) North 51 degrees 40 minutes 32 seconds West 203.33 feet to a 1/2 inch
reinforcing rod, (ii) South 36 degrees 26 minutes 26 seconds West 222.35 feet to a 1/2 inch reinforcing rod, (iii) South 55 degrees 30 minutes 58 seconds East 203.42 feet to a 1/2 inch reinforcing rod situated on the westerly right of way
line of McNuttt Creek Road; run thence 250.49 feet along the westerly right of way line of McNutt Creek Road, along and around a curve with a counter-clockwise rotation and a radius of 2106.00 feet, the chord measurement thereof being South 31
degrees 31 minutes 29 seconds West 250.35 feet to a 1/2 inch reinforcing rod; thence leaving said right-of-way the following courses and distances: (i) North 62 degrees 33 minutes 08 seconds West 2.26 feet to a point, (ii) 165.77 feet
along and around a curve with a counter-clockwise rotation and a radius of 280.00 feet, the chord measurement thereof being North 79 degrees 30 minutes 45 seconds West 163.36 feet to a point, (iii) South 83 degrees 31 minutes 38 seconds West
100.53 feet to a point, (iv) 169.59 feet along and around a curve with a clockwise rotation and a radius of 220.00 feet, the chord measurement thereof being North 74 degrees 23 minutes 22 seconds West 165.42 feet to a point, (v) North 52
degrees 18 minutes 22 seconds West 144.07 feet to a point, (vi) 144.14 feet along and around a curve with a counter-clockwise rotation and a radius of 280.00 feet, the chord measurement thereof being North 67 degrees 03 minutes 14 seconds West
142.56 feet to a 1/2 inch reinforcing rod; run thence the following courses and distances: (i) North 15 degrees 41 minutes 12 seconds East 165.79 feet to a 1/2 inch reinforcing rod, (ii) North 36 degrees 26 minutes 20 seconds East 726.16
feet to a 1/2 inch reinforcing rod situated on the southerly right of way line of Aiken Road; run thence the following courses and distances along the southerly right of way line of Aiken Road: (i) 238.71 feet along and around a curve with a
clockwise rotation and a radius of 6234.71 feet, the chord measurement thereof being South 62 degrees 36 minutes 35 seconds East 238.70 feet to a point, (ii) 473.38 feet along and around a curve with a clockwise rotation and a radius of 2353.61
feet, the chord measurement thereof being South 55 degrees 45 minutes 03 seconds East 472.58 feet to a 1/2 inch reinforcing rod being the TRUE POINT OF BEGINNING. 

All directions recited herein are referenced to Grid North (GA West Zone). 

[SEE SURVEY (SITE PLAN) ON NEXT PAGE] 

  
 39 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

  
 

 

  
 40 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 EXHIBIT “B” 

LANDLORD’S WORK 
  

							
		 	

	 		 	
				
		 	AUGUST 18, 2013	 		 	
			
		 	EXHIBIT B	 	
			
		 	APPROVED PLANS AND SPECIFICATIONS	 	
			
		 	FOR	 	
			
		 	SYNAGEVA BIOPHARMA CORP.	 	
			
		 	LOCATION:	 	GATEWAY BUSINESS PARK
		 		 	OCONEE COUNTY, GEORGIA
			
		 	LAND AREA:	 	12.6 ACRES
			
		 	TOTAL SIZE:	 	70,000 (TWO 35,000 SF BUILDINGS)
			
		 	CLEAR HEIGHT:	 	24 FOOT
			
		 	LANDLORDS WORK:	 	THE LANDLORD SHALL DESIGN AND CONSTRUCT THE CORE AND SMALL
BUILDINGS AND SITE WORK AS REQUIRED BY THE DESIGN DOCUMENTS EXHIBIT
B-4 AND AS FURTHER CLARIFIED BELOW AND IN EXHIBITS B-1 AND
B-3

 Page | 1 

  
 41 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

  
 

 

  
 42 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

  
 

 

  
 43 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

  
 

 

  
 44 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

  
 

 

  
 45 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 EXHIBIT “B-1” 

LANDLORD’S INTERIM COMPLETION WORK 
  

	1.	Installation of exterior concrete panels, slabs, structure and roof in the APF Building such that the Tenant’s contractors may commence mechanical, electrical, plumbing, and fire protection overhead rough-in.

  

	2.	APF Building to be substantially dried in exclusive of windows, doors, fire protection and all roof flashing. 

  

	3.	Floors to be broom cleaned in the APF Building. 

  

	4.	Pedestrian and vehicular access for contractors and construction vehicles to be provided via paving or a stone base. 

  
 46 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 EXHIBIT “B-2” 

PROJECT SCHEDULE 
 [SEE
ATTACHED 2 PAGES] 

  
 47 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

 [*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An
unredacted version of this exhibit has been filed separately with the Securities and Exchange Commission. 
  

  
 

 

 [*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An
unredacted version of this exhibit has been filed separately with the Securities and Exchange Commission. 
  

  
 

 

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 EXHIBIT “B-3” 

RESPONSIBILITY CHART RELATED TO CONSTRUCTION 

[SEE ATTACHED 4 PAGES] 

  
 48 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

  
 

 

  
 49 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

  
 

 

  
 50 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

  
 

 

  
 51 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

  
 

 

  
 52 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 EXHIBIT “B-4” 

DOCUMENT DESIGN LIST FOR TENANT (REFERENCED IN EXHIBIT “B”) 

[SEE ATTACHED 2 PAGES] 

  
 53 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

									
	 Document Reference #
	  	 Description
	  	 Issued As
	  	 Date
	 
	PLANS	  
		  	 COVER SHEET
	  		  	 	8/22/2013	  
	C-1.1	  	 OVERALL EXISTING CONDITIONS PLAN
	  		  	 	8/22/2013	  
	C-1.2	  	 EXISTING CONDITIONS PLAN
	  		  	 	8/22/2013	  
	C-2.1	  	 PRELIMINARY SITE PLAN
	  		  	 	8/22/2013	  
	C-2.2	  	 SITE PLAN
	  		  	 	8/22/2013	  
	C-3	  	 UTILITY PLAN
	  		  	 	8/22/2013	  
	C-4.1	  	 GRADING AND DRAINAGE PLAN
	  		  	 	8/22/2013	  
	C-4.2	  	 POND DETAILS
	  		  	 	8/27/2013	  
	C-5.1	  	 STORM & SANITARY SEWER PROFILES
	  		  	 	8/22/2013	  
	C-5.2	  	 SANITARY PROFILES
	  		  	 	8/22/2013	  
	C-5.2	  	 PROPOSED ROAD PLAN & PROFILE
	  		  	 	8/27/2013	  
	C-6.1	  	 PHASE I EROSION, SEDIMENTATION AND POLLUTION CONTROL PLAN
	  		  	 	8/20/2013	  
	C-6.2	  	 PHASE II EROSION, SEDIMENTATION AND POLLUTION CONTROL PLAN
	  		  	 	8/20/2013	  
	C-6.3	  	 PHASE III EROSION, SEDIMENTATION AND POLLUTION CONTROL PLAN
	  		  	 	8/20/2013	  
	C-6.4	  	 EROSION, SEDIMENTATION AND POLLUTION CONTROL NOTES
	  		  	 	8/20/2013	  
	C-6.5	  	 EROSION, SEDIMENTATION AND POLLUTION CONTROL NOTES
	  		  	 	8/20/2013	  
	C-6.6	  	 EROSION, SEDIMENTATION AND POLLUTION CONTROL DETAILS
	  		  	 	8/20/2013	  
	C-6.7	  	 TEMPORARY SEDIMENT BASIN CALCULATIONS & DETAILS
	  		  	 	8/27/2013	  
	C-7.1	  	 GENERAL CONSTRUCTION DETAILS
	  		  	 	8/22/2013	  
	C-7.2	  	 GENERAL CONSTRUCTION DETAILS
	  		  	 	8/22/2013	  
	C-7.3	  	 GENERAL CONSTRUCTION DETAILS
	  		  	 	8/27/2013	  
	L-1.1	  	 LANDSCAPE PLAN
	  		  	 	8/27/2013	  
	L-1.2	  	 LANDSCAPE DETAILS
	  		  	 	8/27/2013	  
	213041	  	 COVER SHEET
	  		  	 	9/13/2013	  
	A-0.1	  	 GENERAL SPECS & NOTES
	  		  	 	9/13/2013	  
	A-1.1	  	 SHELL PLAN - APF BUILDING
	  		  	 	9/13/2013	  
	A-1.2	  	 SHELL PLAN - MRF BUILDING
	  		  	 	9/13/2013	  
	A-1.3	  	 ROOF PLAN - APF BUILDING
	  		  	 	9/13/2013	  
	A-1.4	  	 ROOF PLAN - MRF BUILDING
	  		  	 	9/13/2013	  
	A-2.1	  	 EXTERIOR ELEVATIONS - APF BUILDING
	  		  	 	9/13/2013	  
	A-2.2	  	 EXTERIOR ELEVATIONS - MRF BUILDING
	  		  	 	9/13/2013	  
	A-3.1	  	 DOOR SCHEDULE
	  		  	 	9/13/2013	  
	A-4.1	  	 WALL SECTIONS
	  		  	 	9/13/2013	  
	A-4.2	  	 WALL SECTIONS
	  		  	 	9/13/2013	  
	A-5.1	  	 CONSTRUCTION DETAILS
	  		  	 	9/13/2013	  
	S0.1	  	 STRUCTURAL - GENERAL NOTES
	  		  	 	8/29/2013	  
	S1.1	  	 SHELL FOUNDATION PLAN - APF BUILDING
	  		  	 	8/29/2013	  

  
 54 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

									
	 Document Reference #
	  	 Description
	  	 Issued As
	  	 Date
	 
	S1.2	  	 SHELL FOUNDATION PLAN - MRF BUILDING
	  		  	 	8/29/2013	  
	S2.1	  	 SECTIONS & DETAILS
	  		  	 	8/29/2013	  
	S2.2	  	 SECTIONS & DETAILS
	  		  	 	8/29/2013	  

  
 55 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 EXHIBIT “C” 

DECLARATION 
 [SEE ATTACHED] 

  
 56 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

 [*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted
version of this exhibit has been filed separately with the Securities and Exchange Commission. 
  

					
		 		  	 DOC# 006875
 FILED IN OFFICE

10/15/2013 08:39 AM
 BK:1220 PG:333-362

ANGELA WATSON
 CLERK OF SUPERIOR

COURT
 OCONEE COUNTY

 DECLARATION OF COVENANTS, RESTRICTIONS AND EASEMENTS 

FOR GATEWAY BUSINESS TECHNOLOGY PARK 

This Declaration of Covenants, Restrictions and Easements, hereinafter called, the “Declaration”, is made as of the 14th day of
October, 2013, by the Oconee County Industrial Development Authority, (hereinafter called the “Developer”). 
 WHEREAS,
Developer is the owner of that certain tract or parcel of land lying and being in Oconee County, Georgia, and being more particularly described on Exhibit A attached hereto and incorporated herein (hereinafter called the “Property”, to be
known as the Gateway Business Technology Park; 
 WHEREAS, that certain tract or parcel of land lying and being in Oconee County,
Georgia, and being more particularly described on Exhibit B attached hereto and incorporated herein, hereinafter called the “Additional Property” is located in the vicinity of the Property; 

WHEREAS, Developer intends to develop the Property, and such portions of the Additional Property as may be acquired by Developer and
subjected to this Declaration from time to time hereafter, for the purposes and uses set forth in Section 5.01 below; 

WHEREAS, Developer desires to place certain covenants, restrictions and easements upon the Property for the benefit of the Developer
and the owners of the Property; 
 WHEREAS, Developer may subject portions of the Additional Property to the provisions of this
Declaration and the covenants, restrictions and easements set forth herein from time to time hereafter; 
 NOW, THEREFORE, the
Developer hereby declares that all of the Property, and such portions of the Additional Property as may be subjected hereto by the Developer from time to time hereafter, shall be held, used, sold, conveyed or otherwise encumbered subject to this
Declaration, without the necessity of specific reference hereto, which is for the purpose of enhancing and protecting the value, desirability and attractiveness of the Property, and such portions of the Additional Property as may be subjected hereto
by the Developer, and shall be binding on all parties having or acquiring any right, title or interest in the Property, or such portions of the Additional Property as may be subjected hereto by the Developer, or any part thereof, and shall, subject
to the limitations herein provided, inure to the benefit of such parties, together with the Developer, and their respective successors, successors-in-title, heirs and assigns. 

 [*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An
unredacted version of this exhibit has been filed separately with the Securities and Exchange Commission. 
  

 BK:1220    PG:334 

 

 ARTICLE L DEFINITIONS 

The following words, when used in this Declaration, shall have the following meanings, unless the context otherwise requires: 

1.01 Intentionally Deleted and Reserved. 
 1.02
ARC. “ARC” means the Architectural Review Committee. 
 1.03 Articles of Incorporation. “Articles of
Incorporation” means the Articles of Incorporation of the Association, which have been or will be filed in the office of the Secretary of State of the State of Georgia, as the same may be amended from time to time but only with (a) during
the Development Period and during the time that the Developer has a majority of the Voting shares, the approval of all Owners which are adversely impacted by such amendment, and (b) after the Development Period, with the approval of the Owners
(exclusive of the Developer) collectively holding a majority of the Voting Shares. 
 1.04 Assessment. “Assessment” means any
assessment, special or otherwise, levied pursuant to this Declaration. 
 1.05 Assessment Share. With respect to each Owner, “Assessment
Share” is the percentage equal to a fraction, the numerator of which is the total acreage of the Property owned by such Owner and the denominator of which is the total acreage of the Property, excluding any common areas the title to which is
vested in the Association. An Owner’s Assessment Share shall be recalculated whenever real property is added to or removed from the Property pursuant to this Declaration. 

1.06 Association. “Association” means Oconee Gateway Owners Association, Inc., a Georgia nonprofit corporation, its successors and
assigns. 
 1.07 Board. “Board” means the Board of Directors of the Association. 

1.08 Bylaws. “Bylaws” means the Bylaws of the Association which have been or will be adopted by the Board, as such Bylaws may be
amended from time to time. The Bylaws shall not be amended without approval of the Owners collectively holding a majority of the Voting Shares. 
 1.09
Class A Owners. “Class A Owners” has the meaning specified in Section 2.04 hereof. 
 1.10 Class B Owners.
“Class B Owners” shall have the meaning specified in Section 2.04 hereof, Notwithstanding anything to the contrary contained in this Declaration, in matters related to the Association and the administration of the Property, the Class
B Owners shall at all times act for the common good and general welfare and best interest of the Association and will not take any action that has or will have a material adverse effect on the Association or the Owners. 

1.11 Declaration. “Declaration” means this Declaration of Covenants, Restrictions and Easements, as the same may from time to time be
supplemented or amended in the manner prescribed herein. 

 [*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An
unredacted version of this exhibit has been filed separately with the Securities and Exchange Commission. 
  

 BK:1220    PG:335 

 

 1.12 Developer. “Developer” means the Oconee County Industrial Development Authority,
and its successors and assigns, provided that such successor or assign is designated as the “Developer” hereunder in a written instrument duly recorded in the public records of Oconee County, Georgia. Such successor or assign shall be
deemed a successor or assign of Developer only as to the particular rights or interests of Developer under this Declaration which are specifically designated in such recorded written instruments. Notwithstanding anything to the contrary contained in
this Declaration, the Developer shall, in its actions which relate to the Property and the Association, at all times act for the common good and general welfare of the Association and will not take any action that has or will have a material adverse
effect on the Association. 
 1.13 Development Guidelines. “Development Guidelines” has the meaning specified in Section 4.04
hereof. 
 1.14 Development Period. “Development Period” means the period commencing on the date of recording of this Declaration in
the Office of the Clerk of the Superior Court of Oconee County, Georgia, and terminating upon the earlier to occur of: (a) twenty (20) years from such date, (b) the date on which Developer owns less than 10% of the Property, and
(c) termination of the Development Period by the recording of an amendment to this Declaration in said Clerk’s Office, which amendment shall be executed and recorded by Developer and shall not require the consent of any Owner or other
party. 
 1.15 Easement Area. “Easement Area” means: 
  

	 	(a)	The Slope Easement described in Section 5.08 below; 

  

	 	(b)	The Landscape Easement described in Section 5.17 below; 

  

	 	(c)	The General Easement described in Section 6.01 below; and 

  

	 	(d)	those areas as to which an easement for the benefit of the Property and the Owners has been submitted to this Declaration or assigned to the Association (any such easement shall be approved by a majority of the Owners),
provided that such easement does not adversely impact any Owner without such Owner’s written consent. 

 Notwithstanding
anything to the contrary contained in this Declaration, the Easement Areas shall be used and maintained solely for the benefit of the Association and the Owners and in a manner consistent with the Development Guidelines. 

1.16 Law. “Law” means any law, code, ordinance, order, or regulation of any public or governmental authority applicable to the Parcel
in question. 
 1.17 Owner. “Owner” means the record owner, whether one or more persons or entities, of the fee simple title to any
Parcel, provided, however, that where fee simple title has been transferred and is being held merely as security for the repayment of a loan, the person or entity who would own the Property in fee simple if such loan were paid in full shall be
considered as being the Owner. 

 [*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An
unredacted version of this exhibit has been filed separately with the Securities and Exchange Commission. 
  

 BK:1220    PG:336 

 

 1.18 Parcel. “Parcel” means any discrete piece, parcel, tract or lot of land and the
improvements thereon, located within the Property and subject to this Declaration and reflected on any map or plat or in a deed of conveyance. 
 1.19
Person. “Person” shall mean a natural person, a corporation, a partnership, trust or any other entity, or any combination thereof. 

1.20 Property. “Property” means that certain real property more particularly described in Exhibit A, attached hereto. In addition,
during the Development Period, and from time to time, the Developer may subject a portion or portions of the Additional Property to the provisions of this Declaration by recording in the Office of the Clerk of the Superior Court of Oconee County,
Georgia, a supplemental declaration which describes such portion portions of the Additional Property and which expressly sets forth the intention of the Developer to make such portion or portions of the Additional Property subject to the provisions
of this Declaration. In addition, such supplemental declaration may contain additional covenants, conditions, restrictions, easements, charges, liens or other obligations created or imposed upon that portion or portions of the Additional Property
subjected to this Declaration thereby. From and after the recording of such supplemental declaration, such portion or portions of the Additional Property shall be considered a part of the Property for all purposes hereunder, except as provided in
Section 5.22. Such supplemental declaration and the annexation to the Property of any portion or portions of the Additional Property shall not require approval by the Owners. Nothing contained in this Declaration or in any recorded or
unrecorded plat, map, picture, drawing, brochure or other representation of a scheme of development, shall be construed as requiring the Developer to subject to the provisions of this Declaration any real property now or hereafter owned by it,
regardless of whether or not such real property is a part of the Additional Property or is subject to declarations containing provisions similar or identical to the provisions of this Declaration. The only manner in which any property other than the
Property described in Exhibit A attached hereto may be subjected to the provisions of this Declaration shall be by a supplemental declaration as provided above and no reference to this Declaration on any plat or in any other document shall otherwise
subject any additional property to the provisions hereof. Notwithstanding anything to the contrary contained in this Declaration, without the written consent of all Owners, no portion of the Property or the Additional Property or any other real
property shall become part of the Property subject to this Declaration if (i) such property contains any hazardous materials or other environmental contaminants unless and until such hazardous materials or contamination is first remediated in
accordance with applicable Laws, or (ii) the addition of such property will materially increase liability or cost to the Association or the Owners. 

1.21 Restrictions. “Restrictions” means all covenants, conditions, restrictions, easements, charges, liens and other obligations
created or imposed by this Declaration. 
 1.22 Right of Abatement. “Right of Abatement” has the meaning specified in
Section 9.02. 
 1.23 Structure. “Structure” means: 

(a) any building or other object constructed on the Property and intended to remain there for more than three (3) months, the placement of
which affects the appearance of such Parcel when viewed from the common areas of the Association or any public ways; 

 [*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An
unredacted version of this exhibit has been filed separately with the Securities and Exchange Commission. 
  

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 (b) any excavation, grading, fill, ditch, diversion dam or other thing or device which
affects or alters the natural flow of surface waters from, upon or across any Parcel, or which affects or alters the flow of any waters in any natural or artificial creek, stream, wash or drainage channel from, upon or across any Parcel; and 

(c) any change in the grade at any point on a Parcel of more than six (6) inches, whether or not Subsection (b) of this
Section 1.15 applies to such change. 
 1.24 Voting Share. “Voting Share” means the share of votes in the Association allocated
to a Parcel and the Owner and is equivalent to the percentage established as the Assessment Share in Section 1.05 above 
 ARTICLE
II. THE ASSOCIATION 
 2.01 The Association. The Association has been or will be formed as a Georgia corporation under the Georgia
Non-Profit Corporation Code. The Association shall have the duties, powers and rights set forth in this Declaration and in the Articles of Incorporation and Bylaws. 

2.02 The Board. The Board of Directors of the Association shall consist of no less than three (3) members and no more than seven
(7) who shall be elected at each annual meeting of the Owners and serve for a term of one year and until their successors are elected. The Board shall at all times manage the Association pursuant to this Declaration and for the common good and
general welfare of the Association, primarily, and the Owners, secondarily. Notwithstanding the foregoing, during the Development Period, the number of Directors shall be three and the Developer shall have the right to appoint all three of such
Directors, as it chooses, regardless of their ownership of any of the Property or their membership in the Association. Subject to the foregoing, the number, term, election and qualifications of the Board shall be fixed in the Articles of
Incorporation or the Bylaws or both. By resolution, the Board may delegate portions of its authority to an executive committee or to other committees, to officers of the Association or to agents and employees of the Association, but such delegation
of authority shall not relieve the Board of the ultimate responsibility for management of the affairs of the Association. Action by or on behalf of the Association may be taken by the Board or any duly authorized executive committee, officer, agent
or employee without a vote of the Owners, except if the Owners are permitted to vote on any such action pursuant to this Declaration or as otherwise specifically provided in this Declaration. 

2.03 Membership in the Association. Each Owner shall be a member of the Association. There shall be one membership in the Association for each
Parcel. The Person or Persons who constitute the Owner of a Parcel shall automatically be the holder of the membership in the Association appurtenant to that Parcel, and such membership shall automatically pass with fee simple title to the Parcel,
Membership in the Association shall not be assignable, separate and apart from fee simple title to a Parcel, except that an Owner may assign the voting rights appurtenant to its Parcel to a lessee of the entire Parcel in the lease or in another
written instrument, provided that a copy of such instrument is furnished to the Secretary of the Association prior to any meeting. In the event the Owner is not a natural person, the entity which is the Owner may appoint one of its officers or
employees as its voting representative. Any such appointment as set out herein shall be in writing delivered to the Association. 

 [*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An
unredacted version of this exhibit has been filed separately with the Securities and Exchange Commission. 
  

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 2.04 Classes of Membership. The Association shall have two classes of voting membership,
Class A Owners and the Class B Owner. “Class A Owners” shall include all Owners; provided, however, that so long as the Developer is the Class B Owner, it shall not be entitled to Class A membership, unless the Developer owns a
Parcel on which a building is being or has been constructed, and then the Developer shall be entitled to Class A membership as to such Parcel but only for so long as it owns such Parcel. The “Class B Owner” shall be the Developer, and
the Class B membership shall exist until the expiration or earlier termination of the Development Period. Notwithstanding anything herein stated to the contrary, at such time as the Class B membership ceases to exist, the Developer shall become a
Class A Owner with respect to each Parcel it then owns, if any. 
 2.05 Voting Rights of Owners. From and after the expiration or earlier
termination of the Development Period, the Class A Owners shall have full voting privileges. Before the expiration or earlier termination of the Development Period, the Class A Owners shall be entitled to vote only on (i) any proposal
to change the method of determining the allocation or amount of Assessments or Voting Shares, (ii) any proposal that the amount of Assessments exceed any maximum provided therefor in this Declaration, (iii) except as otherwise provided in
this Declaration, any proposal that a special Assessment for capital improvements be levied by the Association, (iv) any proposal to subject additional properties, other than any portion or portions of the Additional Property owned by the
Developer, to the provisions of this Declaration, and (v) any proposal of merger, consolidation or dissolution. In addition, before the expiration or earlier termination of the Development Period (a) any Class A Owner shall be
entitled to vote on any matter having or that would have a material adverse effect on such Owner, and (b) neither the Developer nor the Class B Owners shall exercise their Voting Shares in a manner, or take other action, that has or would have
a material adverse effect on the Association or any Owner. Except as otherwise set forth in this Declaration to the contrary, whenever in this Declaration the approval of the Owners is required, approval of the Owners shall be deemed to be given if
the Owners having at least 75% of the Voting Shares so approve. No vote shall be taken without first giving twenty-one (21) days written notice to the Owners of the time and date of the meeting where such vote will occur, which notice shall
provide reasonable detail of the content and nature of the mater to be voted on at such meeting. All meetings of the Owners held in person shall be held at a place within reasonable proximity to the Property as set forth in the notice thereof, or in
the event of a meeting held pursuant to waiver of notice, as may be set forth in the waiver. Meetings may take place via conference call. When entitled to vote, a Class A Owner shall be entitled to vote the Voting Shares allocated to said
Owner’s Parcel as set forth in Section 1.24 above, A Class A Owner shall be entitled to cast Voting Share for each Parcel owned. During the Development Period any action of the Association requiring the approval or affirmative vote of
the Class A Owners shall also require the approval or affirmative vote of the Class B Owner. The Class B Owner shall at all times cast its vote in a manner that serves the best interest of the Association. The Voting Shares of the Owners shall
be cast under rules and procedures as may be prescribed in this Declaration, the Articles of Incorporation, Bylaws or applicable Laws. 

ARTICLE III. DUTIES AND POWERS OF THE ASSOCIATION 

3.01 General Duties and Powers of the Association. The Association has been formed to further the common interests of the Owners. The
Association, acting through the Board, the ARC or other committee, or through persons to whom the Board has delegated any authorized powers of the Board, shall have the 

 [*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An
unredacted version of this exhibit has been filed separately with the Securities and Exchange Commission. 
  

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duties and powers specifically set forth herein or in the Articles of Incorporation or Bylaws, and, in general, the powers to perform its duties described in this Declaration and, subject to any
limitation set forth herein or in the Articles of Incorporation or Bylaws, the powers to do anything that may be necessary or desirable to further the common interests of the Owners. 

3.02 Duty to Maintain Easement Areas. The Association shall maintain the Easement Areas in a high-quality manner suitable to a first-class
business park, including the mowing of grass and trimming of shrubbery on a regular schedule, watering as necessary to maintain a healthy appearance, removal of weeds from planted areas and maintenance of bed line and other plant materials. Any
entrance area to the Property and any medians located within the public roads of the Property shall be maintained with shrubbery, frees and flowers. The remainder of the Easement Areas shall be maintained with grass. The Association shall light the
Easement Areas as may be appropriate for the purposes of landscape lighting and lighting of the major roads within the Property. The Association shall also maintain a project identification sign at any entrance to the Property and at various
locations throughput the Property, as may be necessary or appropriate. 
 3.03 Association Property. The Association may acquire real or
personal property, or interests therein, for the common use or benefit of all of the Owners. The Association shall accept title to any real or personal property, or interests therein, transferred to the Association by the Developer for the common
use or benefit of all of the Owners. The Association shall manage, operate, care for, maintain and repair any and all property, or interests therein, held by the Association, and shall keep them in a safe, attractive and desirable condition for the
use and enjoyment of the Owners. The Association shall pay any and all ad valorem taxes and other governmental assessments levied upon the Association’s property. To the extent deemed desirable by the Board, the Association shall obtain and
keep in full force and effect at all times, to the extent reasonably obtainable, casualty, fire and extended coverage insurance with respect to insurable improvements and personal property owned by the Association. 

3.04 Liability and Fidelity Insurance. To the extent deemed desirable by the Board, the Association shall obtain and keep in full force and
effect at all times, to the extent reasonably obtainable, broad form comprehensive liability insurance covering public liability for bodily injury and property damage. To the extent reasonably obtainable, the Association may obtain and keep in full
force and effect at all times a fidelity policy or bond providing fidelity coverage against dishonest acts on the part of directors, officers, employees and volunteers of the Association responsible for handling funds collected and held for the
benefit of all of the Owners or otherwise belonging to or administered by the Association. 
 ARTICLE IV. ARCHITECTURAL REVIEW COMMITTEE

 4.01 Purpose, Powers and Duties of the ARC. The “Architectural Review Committee” (the “ARC”) is formed as a
committee of the Association for the sole purpose of performing certain functions set forth in this Declaration and it shall at all times act in the common good and general welfare of the Association, primarily, and the Owners, secondarily,
including (a) to assure that any installation, construction or alteration of any Structure on any Parcel shall be submitted to the ARC for approval (i) as to whether the proposed installation, construction or alteration is in conformity and harmony
of external design and general quality with the standards of the Property, (ii) as to the location of Structures with respect to 

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topography, finished ground elevation and surroundings Structures; and (b) to carry out the rights and duties of the ARC as elsewhere set forth in this Declaration. To the extent, and only
to the extent, necessary to carry out such purpose, the ARC shall have all of the powers and duties to do each and everything necessary, suitable, convenient or proper for, or in connection with, or incidental to, the accomplishment of such purpose,
including, without being limited to, the power and duty to approve or disapprove plans and specifications for any installation, construction or alteration of any Structure which takes place on any Parcel. 

4.02 Members of the ARC. There shall be at least three (3) and no more than five (5) members of the ARC. During the Development Period
all members of the ARC shall be appointed by the Developer. Thereafter the members of the ARC shall be selected by a vote of the Board. Members shall be qualified or experienced in architecture, landscape architecture, engineering, environmental
design, construction, property development, planning, marketing, law or related professions. The members of the ARC shall elect from among themselves a Chairman and a Recording Secretary. 

 

	4.03	Operations of the ARC. 

 (a) Records. The ARC shall maintain records of its
actions and make such records available at reasonable places and times for inspection by the Board and each Owner. 
 (b) Activities.

 (i) The ARC shall make findings, determinations, rulings and orders, with respect to the conformity with the Development Guidelines,
concerning plans and specifications submitted for approval to the ARC pursuant to this Declaration. The ARC shall, as required, issue permits, authorizations or approvals, which may include reasonable specified requirements or conditions, pursuant
to this Declaration. 
 (ii) The action of the majority of members of the ARC with respect to the matters specified shall be final and
binding upon the ARC and upon any applicant for an approval, permit or authorization. Written notice of the decision of such members, shall, within five (5) days thereof, be given to any applicant for an approval, permit or authorization. The
applicant may, within ten (10) days after receipt of notice of any decision which he deems to be unsatisfactory, file a written request to have the matter in question reviewed by the Board. Upon filing of any such request, the matter with
respect to which such request was filed shall be reviewed promptly by the Board, but in no event later than thirty (30) days after the filing of such request. The decision of a majority of the members of the Board made in conformance with this
Declaration and the Development Guidelines with respect to such a matter shall be final and binding. 
 4.04 Development Guidelines. The provisions
and restrictions of this Section 4.04 (as amended from time to time pursuant to the provisions of this Section 4.04) shall constitute the Development Guidelines”. 

 

	 	(a)	All construction on and improvements made to the Property shall comply with all applicable Laws. 

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	 	(b)	The ARC shall from time to time enforce the Development Guidelines. 

  

	 	(c)	The Development Guidelines may be amended from time to time at the request of the Developer, any Owner, or the ARC (but, until the Development Period expires or is terminated, no such amendment shall be effective if it
would have a material adverse effect on any Owner or if it is not approved by the Owners having a majority of the Voting Shares) for the purpose of regulating the location, construction and aesthetic appearance of Structures, including, without
limitation, the following: 

 (i) governing the form and content of plans and specifications to be submitted for approval
pursuant to this Declaration; 
 (ii) governing the procedure for such submission of plan and specifications; and 

(iii) establishing guidelines with respect to the approval and disapproval of design features, architectural styles, exterior colors and
materials, details of construction, location and size of Structures and all other matters that require or permit regulation or approval by the ARC pursuant to this Declaration. 

 

	 	(d)	Notwithstanding anything to the contrary contained in this Declaration, in no event shall the Development Guidelines amend Section 5.22 of this Declaration without the prior written consent of the Owner of the
Parcel described on Exhibit C attached hereto. 

  

	 	(e)	The Development Guidelines may establish different guidelines and requirements applicable to various portions of the Property based on the applicable Laws. 

 

	 	(f)	The ARC shall make a published copy of its current Development Guidelines readily available to all applicants seeking the ARC’s approval and to each Owner. 

 

	 	(g)	No Structure shall be deemed to be in violation of the Development Guidelines to the extent that a Certificate of Compliance was issued therefor or if such Structure was in compliance with the Development Guidelines
when constructed or if the plans and specifications for such Structure were approved by the ARC, even if a subsequent amendment to the Development Guidelines causes such Structure to be in violation of the Development Guidelines; provided that any
alterations or improvements made to such Structure or plans and specifications shall be in compliance with the then-existing Development Guidelines. 

4.05 Submission of Plans and Specifications. No Structure shall be commenced, erected, placed, moved onto or permitted to remain on any Parcel,
nor shall any existing Structure upon any Parcel be altered in any way which materially changes the exterior appearance of the Structure or Parcel, unless plans and specifications therefor shall have been submitted to and approved in writing by the
ARC. Such plans and specifications shall be in such form and shall contain such information as may be reasonably required by the ARC. The ARC shall not withhold, condition or delay its approval or consent to any plans and specifications submitted to
the ARC for approval, provided that the ARC shall not be deemed to be unreasonably withholding, conditioning or delaying its approval or consent if such plans and specifications are in violation of the Development Guidelines or this Declaration.

 [*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An
unredacted version of this exhibit has been filed separately with the Securities and Exchange Commission. 
  

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 4.06 Approval of Plans and Specifications. Upon approval by the ARC of any plans and
specifications submitted pursuant to this Declaration, a copy of such plans and specifications, as approved, shall be deposited for permanent record with the ARC and a copy of such plans and specifications bearing such approval, in writing, shall be
returned to the applicant. Approval for use in connection with any Parcel or Structure of any plans and specifications shall not be deemed a waiver of the ARC’s right, in its discretion, to disapprove similar plans and specifications or any of
the features or elements included therein if such plans, specifications, features or elements are subsequently submitted for use in connection with any other Parcel or Structure. Approval of any such plans and specifications relating to any Parcel
or Structure, however, shall be final as to that Parcel or Structure and such approval may not be revoked or rescinded thereafter, provided that there has been adherence to, and compliance with, such plans and specifications, as approved, and any
conditions attached to any such approval. 
 4.07 Disapproval of Plans and Specifications. The ARC shall have the right to disapprove any
plans and specifications submitted pursuant to this Declaration because of any of the following: 
  

	 	(a)	the failure to include information as may have been reasonably requested; 

  

	 	(b)	the failure to comply with this Declaration or the Development Guidelines; 

  

	 	(c)	any other matter which, in the reasonable judgment of the ARC, would be likely to cause the proposed installation, construction or alteration of a Structure (i) to fail to be in conformity and harmony of external
design and general quality with the existing standards of the neighborhood and with the standards for the park, or (ii) as to location, to be incompatible with topography, finished ground elevation and surrounding Structures. 

In any case in which the ARC shall disapprove any plans and specifications submitted hereunder, or shall approve the same only as modified or upon specified
reasonable conditions, such disapproval or qualified approval shall be accompanied by a statement of the grounds upon which such action was based. In any such case the ARC shall, if requested, make reasonable efforts to assist and advise the
applicant in order that an acceptable proposal may be prepared and submitted for approval. 
 4.08 Obligation to Act. The ARC shall take
action on any plans and specifications submitted as herein provided within thirty (30) days after receipt thereof and receipt of any additional matters reasonably requested by the ARC. Approval by the ARC, if granted, together with any
conditions imposed by the ARC shall be placed in writing on the plans and specifications and shall be returned to the applicant. Should the ARC fail to act, the applicant may petition the Board to perform the unperformed obligations the ARC, in
which case the Board shall have the right to act on behalf (and in lieu) of the ARC with respect to such unperformed obligations. 
 4.09 Inspection
Rights. Any employee or agent of the ARC may, after giving at least 24 hours business days’ notice, enter upon any Parcel and Structure thereon during business hours for the purpose of ascertaining whether the installation, construction,
alteration or maintenance of any Structure or the use of any Parcel or Structure is in compliance with the provisions of this Declaration and any approval granted by the ARC; and neither the ARC, nor any such agent shall be deemed to have committed
a trespass or other wrongful act solely by reason of such entry or inspection. The Owner of such Parcel or Structure that the ARC enters shall have the right to be present during any such entry by the ARC. 

 [*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An
unredacted version of this exhibit has been filed separately with the Securities and Exchange Commission. 
  

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 4.10 Violations. If any Structure shall be erected, placed, maintained or altered upon any
Parcel, otherwise than in accordance with the plans and specifications approved by the ARC, such erection, placement, maintenance or alteration shall be deemed to have been undertaken in violation of this Article and without the approval required
herein. If, in the reasonable opinion of the ARC, such violation shall have occurred, the ARC shall provide written notice to the Owner by certified mail, setting forth in reasonable detail the nature of the violation and the specific action or
actions required to remedy the violation. If the Owner shall not have taken reasonable steps toward the required remedial action within thirty (30) days after the mailing of the aforesaid notice of violation, then the ARC shall have the Right
of Abatement as provided in Section 9.02 hereof; provided that, except in the event that such violation creates a health hazard or a dangerous or emergency situation or materially adversely affects another Owner, the Owner shall have such
additional time as is necessary to cure such violation (before the ARC exercises the Right of Abatement) provided that such cure is commenced during such 30-day period and such Owner is diligently prosecuting a cure to such violation. 

4.11 Certification of Compliance. 

(a) Upon completion of the installation, construction or alteration of any Structure in accordance with plans and specifications approved by
the ARC, the ARC shall, upon written request of the Owner thereof or upon the ARC’s own initiative, issue a Certificate of Compliance, identifying such Structure and the Parcel upon which such Structure is placed, and stating that the plans and
specifications have been approved and that such Structure complies with such plans and specifications. A copy of said Certificate shall be filed for permanent record with the plans and specifications on file with the ARC. 

(b) Any Certificate of Compliance issued in accordance with the provisions of this Section shall be conclusive evidence that all Structures on
the Parcel comply with all the requirements of this Article except as otherwise stated in the Certificate of Compliance; provided, however, that the Certificate shall in no way be construed to certify the acceptability, sufficiency or approval by
the ARC of the actual construction of Structures or of the workmanship, or to present or warrant to anyone the quality, function or operation of the Structures or of any construction, workmanship, engineering, materials or equipment. 

ARTICLE V. GENERAL COVENANTS AND RESTRICTIONS 

5.01 Restrictions on Use. No Parcel, Structure thereon or other portion of the Property shall be employed for any use other than the use or uses
allowed by this Declaration, the Development Guidelines, the applicable Laws, as the same may be amended from time to time. The Property shall be used for commercial, institutional, office, professional, manufacturing, testing, laboratory, and
research purposes and no portion of the Property shall be used for residential purposes. 
 5.02 Restriction on Rezoning. No Parcel or other
portion or portions of the Property may be rezoned under any applicable zoning ordinance or resolution without the prior written approval of the ARC. 

 [*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An
unredacted version of this exhibit has been filed separately with the Securities and Exchange Commission. 
  

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 5.03 Resubdivision of Property. No Parcel may be split, divided, or subdivided for sale,
resale, gift, transfer, long-term lease or otherwise, without the prior written approval of the ARC of plans and specifications for such split, division or subdivision. A variance shall not be deemed to be a rezoning. 

5.04 Air, Water and Noise Pollution. No use of any Parcel shall be permitted which, in violation of applicable Laws: (i) emits pollutants
into the atmosphere, (ii) creates noise or (iii) discharges liquid or solid wastes or other harmful matter into any waterway. The Development Guidelines may be amended pursuant to Section 4.04(c) above to include such standards. No
waste or any substance or materials of any kind shall be discharged into any private or public sewer serving the Property, or any part thereof, in ‘ violation of any regulations of the City of Bogart, Oconee County, or any other private or
public body having jurisdiction. 
  

	5.05	Solid Waste. 

 (a) No person shall dump rubbish, garbage, or any other form of
solid waste on any Parcel, 
 (b) Except during approved construction, and in accordance with any regulations of the City of Bogart, Oconee
County, or any other public or private body having jurisdiction, no person shall bum rubbish, garbage, or any other form of solid waste on any Parcel. 

(c) Except for building materials employed during the course of construction of any Structure approved by the ARC, no lumber, metals, bulk
materials or solid waste of any kind shall be kept, stored, or allowed to accumulate on any Parcel, unless such item is screened or otherwise handled in a manner set forth in the Development Guidelines. During the construction it shall be the
responsibility of each Owner to insure that the construction site is kept free of unsightly accumulations of rubbish and scrap materials, and that construction materials, trailers, shacks and the like are kept in a neat and orderly manner. The
Development Guidelines may be amended pursuant to Section 4.04(c) above to incorporate provisions relating to the handling of construction materials so as to avoid unsightliness during the course of construction. 

 

	5.06	Mining and Drilling. No Parcel shall be used for the purpose of boring, mining, quarrying, exploring for or removing oil, other hydrocarbons or minerals; nor shall any Parcel be used for the purpose of
drilling for or removing water, unless done by the governmental body having jurisdiction. 

  

	5.07	Waterfront Land. On Parcels adjacent to or including lakes, ponds, rivers, streams, creeks or other water bodies or courses: 

 

	 	(a)	no land vehicle shall be stored within twenty (20) feet of the water boundary thereof; and 

  

	 	(b)	no refuse of any kind shall be placed or disposed of therefrom into the adjacent waters. 

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unredacted version of this exhibit has been filed separately with the Securities and Exchange Commission. 
  

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	5.08	Slope and Erosion Control. 

 (a) No Structure, planting or any other materials
shall be placed or permitted to remain, nor shall any activity be undertaken, which may create erosion, siltation or similar problems or which may obstruct or retard the flow of water through drainage channels within the area labels as the
“Slope Easement” shown on Exhibit D attached hereto (the “Slope Easement”). The portion of the Slope Easement and all improvements thereon located on a Parcel shall be maintained continuously by the Owners of such Parcel, except
for those improvements for which a public authority or utility company is responsible. 
 (b) No activity which creates erosion, siltation or
similar problems shall be undertaken on any Parcel without the prior written approval of the ARC of plans and specifications for the prevention and control of such erosion or siltation. The ARC may, as a condition of approval of such plans and
specifications, reasonably require the use of certain means of preventing and controlling such erosion or siltation, which conditions may exceed those contained in applicable Laws. Such means may include, for example, physical devices for
controlling the runoff and drainage of water, special precautions in grading and otherwise changing the natural landscape, and required landscaping. The Development Guidelines may be amended pursuant to Section 4.04(c) above to include
provisions for the prevention and control of erosion and siltation. All such requirements and guidelines may exceed those contained in applicable Laws. 

5.09 Trees. No trees having a diameter of twelve (12) inches or more (measured from a point three (3) feet above ground level) shall be
removed from any Parcel unless such removal is in conformity with approved landscaping plans and specifications submitted pursuant to the provisions hereof. The Development Guidelines may be amended pursuant to Section 4.04(c) above to include
provisions relating to the preservation of trees and other natural resources and wildlife upon the Property. 
 5.10 Chemical Fertilizers, Herbicides
and Pesticides. No commercial chemical fertilizers, herbicides or pesticides shall be used on any of the Property, except products which are available for consumer use through retail sources and are approved by the appropriate Federal, State
and local governmental agencies. 
 5.11 Machinery. No Structure shall be altered on its exterior by the addition of any sort of machinery,
including air conditioning and heating units, other than window air-conditioning units, without the prior written approval of the ARC of plans and specifications for such alteration. Approval of the ARC of such alteration may be conditioned on the
appropriate screening of said machinery. The Development Guidelines may be amended pursuant to Section 4.04(c) above to include provisions for the location and screening of machinery. 

 

	5.12	Signs. 

 (a) No signs whatsoever, including, but not limited, to, commercial and
similar signs, shall, without the ARC’s prior written approval of plans and specifications therefor, be installed, altered or maintained on any Parcel, or on any portion of a Structure visible from the exterior thereof, except: 

(i) such signs as may be required by applicable Laws and legal proceedings; 

(ii) not more than one “For Sale” or “For Rent” sign, which sign shall comply with any requirements therefor set forth in
the Development Guidelines; 
 (iii) directional signs for vehicular or pedestrian safety in accordance with the plans and specifications
approved by the ARC. 

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 (b) In no event during approved construction of any Structure shall more than one job
identification sign be approved by the ARC, although more than one entity may be identified on such sign. 
 (c) Exterior graphics which are
incorporated in the design of any Structure shall require the prior written approval of the ARC of plans and specifications for such graphics. 
 5.13
Setbacks. The Development Guidelines may be amended pursuant to Section 4.04(c) to include provisions for setbacks for the location of any Structure. No Structure shall be erected or placed on any Parcel unless its location is consistent
with the Development Guidelines. 
 5.14 Roads and Driveways. No road or driveways shall be constructed or altered on any Parcel without the prior
written approval of the ARC of the plans and specifications for such roads and driveways. The Development Guidelines may be amended pursuant to Section 4.04(c) to include provisions relating to the design and location of roads and. 

5.15 Parking. Each Owner shall provide a sufficient number of parking spaces to meet the requirements of applicable Laws. In addition, each Owner shall
provide a sufficient number of parking spaces to meet the reasonably anticipated needs of employees and customers using such Parcel, in accordance with plans and specifications approved by the ARC. Parking facilities for vehicles on any Parcel shall
be constructed or altered in accordance with the prior written approval of the ARC of plans and specifications for such parking facilities. No parking or vehicles shall be allowed on any Parcel except on the portions thereof approved for parking
purposes by the ARC. The Development Guidelines may be amended pursuant to Section 4.04(c) relating to the size, location, design and adequacy of any and all parking facilities. 

5.16 Exterior lighting. Exterior lighting to be erected or altered on any Parcel or Structure shall be subject to the prior written approval of the ARC
of plans and specifications for such lighting, The Development Guidelines may be amended pursuant to Section 4.04(c) to include provisions relating to the design, location and direction of exterior lighting. 

5.17 Maintenance. Each Owner shall keep and maintain each Parcel and Structure owned by him, other than the Landscape Easement area shown on Exhibit D
attached hereto, as well as all landscaping located thereon, in good condition and repair, including, but not limited to, (i) the repairing and painting, or other appropriate external care, of all Structures; (ii) the seeding, watering and
mowing of all open space areas; and (iii) the pruning and trimming of all trees, hedges and shrubbery so that the same are not obstructive of a view of motorists or pedestrians of street traffic. If, in the reasonable opinion of the ARC, any
Owner shall fail to perform the duties imposed by this Section, the ARC shall give written notice to the Owner to remedy the condition in question, setting forth in reasonable detail the nature of the condition. If the Owner shall fail to take
reasonable steps to remedy such condition within thirty (30) days after the mailing of said written notice by certified mail, then the ARC shall have the Right to Abatement as provided in Section 9.02 hereof. The Development Guidelines may
be amended pursuant to Section 4.04(c) above to include provisions relating to the maintenance of Structures and landscaping. 

 [*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An
unredacted version of this exhibit has been filed separately with the Securities and Exchange Commission. 
  

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 5.18 Outside Storage. Outside storage or placement of raw materials, finished goods, products,
supplies and similar materials shall not be allowed unless screened by enclosures, fences or other devices for which plans and specifications shall have been approved by the ARC, except for retail garden centers. The Development Guidelines may be
amended pursuant to Section 4.04(c) to include provisions for the screening of such outside storage. 
 5.19 Pipes. Except in accordance with
the plans and specifications therefor approved by the ARC, no pipe for the transportation of liquids, slurries or gases shall be installed on any Parcel above the surface of the ground, except hoses and movable pipes used for irrigation or
firefighting purposes. 
 5.20 Poles and Wires. Except in accordance with plans and specifications therefor approved by the ARC, or pursuant to the
easement created by Subsection 6.01(a), below, no poles or wires for the transmission of electricity, telephone messages or the like shall be installed on any Parcel above the surface of the ground. 

5.21 Zoning and Private Restrictions. The Restrictions shall not be construed as permitting any action prohibited by applicable Laws, or by any deed or
lease. In the event of any conflict, the most restrictive provision of such Laws, deeds, leases or the Restrictions shall govern and control. 
  

	5.22	[*] 

 5.23 Variances. Except with respect to Section 5.22 above, reasonable variances from
the strict application of the limitations and Restrictions set forth in this Declaration or the Development Guidelines in any specific case may be granted by the ARC, in its sole and absolute discretion, if such strict application would be
unreasonable or unduly harsh under the circumstances; provided, however, that any such variance shall not materially injure any of the Property. Any such variance must be in writing or be contained in written guidelines or rules promulgated by the
ARC, and no such variance shall constitute a waiver or estoppel with respect to any future action by the ARC. 
 ARTICLE VI. EASEMENTS

  

	6.01	Easements. 

  

	 	(a)	Non-exclusive easements and rights-of-way are hereby expressly reserved to the Association in perpetuity and to the Developer during the Development Period, in, on, over, under and across the areas labeled as the
“General Easement” (the “General Easement”) on Exhibit D attached hereto for the following purposes: 

 (i)
the erection, installation, construction, maintenance and use of wires, lines, conduits and poles and the necessary or proper attachments in connection with the transmission of electricity, telephone, cable television cables and other utilities and
similar facilities; 

 [*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An
unredacted version of this exhibit has been filed separately with the Securities and Exchange Commission. 
  

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 (ii) the erection, installation, construction, maintenance and use of storm-water drains,
land drains, public and private sewers, irrigation systems, pipelines for supplying gas, water and heat, and for any other public or quasi-public facility, service or function; 

(iii) slope control purposes, including the right to grade and plant slopes and prevent the doing of any activity which might interfere with
slopes or which might create erosion or sliding problems or which might change, obstruct or retard drainage; 
 (iv) the erection,
installation, construction, maintenance and use of the roadway shown on Exhibit D as “Gateway East Pkwy” for vehicular and pedestrian access; and 

(v) the erection, installation, construction, maintenance and use of the drainage facilities shown on Exhibit D as “Storm Water
Management”. 
 The Association, and the Developer during the Development Period, may transfer or dedicate any easement or right-of-way
set forth in this Section 6.01(a) to any public entity or to any other entity for public purposes, provided that such transfer or dedication will not materially adversely effect the Association’s and Owners’ right to use the areas
affected thereby pursuant to the Association’s and Owners’ rights set forth in this Declaration. 
 (b) Subject to all of the other
covenants and restrictions contained in this Declaration and the Development Guidelines, each Owner shall have the right to use the General Easement area in any manner not inconsistent with the purposes for which it is reserved. 

6.02 Entry. The Developer, the Association and their employees, agents, successors and assigns, shall have the right at all reasonable times to enter
upon all parts of each Easement Area for any of the purposes for which such Easement Area is reserved, without being deemed to have committed a trespass or wrongful act solely by reason of such entry and the carrying out of such purposes, provided
the same are done in accordance with the provisions of this Section and the entrant uses commercially reasonable efforts to minimize interruption to the use and enjoyment of the Parcels by the Owners. The Developer, the Association and their
employees, agents, successors and assigns shall, to the extent reasonably practical, repair all damage caused by such entry and leave each Parcel in the same condition and repair as existed prior to such entry. 

ARTICLE VII. ASSESSMENTS 
 7.01
Covenants for Assessments. Each Owner of any portion of the Property, including any purchaser at any judicial sale or non-judicial sale under power, by acceptance of a deed or other instrument transferring ownership of such portion of the
Property, whether or not it shall be so expressed in any such deed or other instrument, covenants and agrees and shall be deemed to covenant and agree to pay to the Association any annual Assessments or charges and any special Assessments, which
Assessments are to be fixed, established and collected from time to time for the purposes of and as provided in this Declaration. 

 [*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An
unredacted version of this exhibit has been filed separately with the Securities and Exchange Commission. 
  

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 7.02 Purpose of Assessments. The annual and special Assessments shall be assessed, collected and
administered by and for the benefit of the Association. The Assessments shall be used for the costs set out as follows: 
 (a) Improving and
maintaining: (i) the Easement Areas, (ii) any portion of the Property owned by the Association and held or used for the common benefit of all of the Owners, and (iii) any property as to which the Association has a right or obligation
to improve, maintain and/or use for the benefit of the Property and/or the Owners; 
 (b) Enforcing the Restrictions; 

(c) Paying the expenses of the ARC; 

(d) Paying the Association’s management and administrative costs up to a maximum amount of seven percent (7.0%) per annum of the
total annual and special Assessments; and 
 (e) Paying any other costs and expenses incurred by the Association pursuant to this
Declaration. All sums received by the Association pursuant to the annual or special Assessments shall be held in trust for the benefit of all of the Owners and for the purposes and uses designated herein. The Association shall maintain appropriate
records of all expenditures of funds and all Assessments, which records shall be open for inspection by any Owner during normal business hours upon reasonable notice and at said Owner’s cost and expense. 

7.03 Annual Assessments. 
 (a) On or
before November 1 of each calendar year, the Board shall cause a proposed budget for the succeeding calendar year to be prepared. The proposed budget shall show, in reasonable detail, (i) the categories of expenses and the anticipated
amounts of expenses, as determined by the Board to be necessary or desirable for the purposes set forth in Section 7.02, above, (ii) any expected income and estimated sources and amounts thereof for such succeeding calendar year and any
expected surplus from the prior year, and (iii) the amount of the annual Assessment for such succeeding calendar year. The Board shall cause a copy of such proposed budget to be sent by first-class mail to each Owner promptly after such
proposed budget is prepared. Thereafter, each Owner may provide comments and suggestions about the proposed budget to the Board. The Board shall adopt a budget for the upcoming calendar year and shall cause a copy thereof to be sent by first-class
mail to each Owner no later than January 15 of said calendar year. Copies of the proposed budget and the existing budget shall be made available to any Owner requesting a copy thereof upon payment of the reasonable expense of copying the same,
and the books and records of the Association relating to the same may be examined by any Owner or any authorized representative of an Owner at the Association’s principal office during normal business hours. 

(b) The annual Assessment shall be allocated among the Parcels and the Owners thereof, as to which the obligation to pay Assessments shall
accrue as of January 1 of said upcoming calendar year pursuant to the provision of this Article, in accordance with the method or formula for allocation set forth in Section 1.05 above, subject to the following limitations and agreements
of Developer. In 

 [*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An
unredacted version of this exhibit has been filed separately with the Securities and Exchange Commission. 
  

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calculating the number of acres within Parcels for Assessment purposes, the ARC may, but is not required to deduct the amount of any property lying within any Easement Area or particular type of
Easement Area, provided that all similar types of Easement Areas within the Property are treated similarly. 
 7.04 Special Assessments. In addition
to any annual Assessments, the Association may at any time levy a special Assessment for the purpose of defraying, in whole or in part, the cost of any unexpected expense for a permitted purpose affecting all of the Owners. Special Assessments shall
be allocated among the Parcels and the Owners thereof in accordance with the method or formula for allocation set forth in Section 1.05 above. 

7.05 Due Date of Assessments. The obligation with respect to Assessments shall accrue as to each Parcel and the Owner thereof commencing on the first
day of the first month following the date of recordation in the public records of Oconee County, Georgia, of the first deed conveying a Parcel from the Developer to the first Class A Owner. The Assessment Share with respect to each Parcel and
the Owner thereof shall be due and payable in full on or before February 15 of the year for which such annual Assessment is made. The Assessment Share with respect to a Parcel as to which the obligation to pay Assessments shall accrue after
January 1 of the then current calendar year shall be prorated on the basis of the number of months remaining in said year and shall be due and payable in Ml on or before thirty (30) days after notice by the Association. The due date of any
special Assessment shall be as fixed by the Association in the notice of special Assessment sent to the Owners. 
 7.06 Owner’s Obligation for
Payment of Assessments. Subject to and except as set forth in Section 7.8 below (a) the annual and special Assessments provided for herein shall be the debt of the Owner of the Parcel covered by such Assessments, (b) no Owner may
exempt itself or himself from liability for such Assessments, and (c) any Assessment Share not paid within the time period specified in this Article shall bear, and the Owner of the Parcel shall be obligated to pay, interest at the annual
interest rate stated below on the amount of the Assessment Share from the due date thereof, together with all costs and expenses of collection, including reasonable attorney’s fees and court costs, and the Association shall have the right to
bring suit against the Owner to recover a money judgment for all such amounts without foreclosing or waiving the liens securing same as provided for in this Article. The annual interest rate from the due date until paid shall be equal to the rate of
interest quoted in the Wall Street Journal as the “Prime Rate”, from time to time, plus two (2%) per annum. 
 7.07 Assessment Lien and
Foreclosure. Subject to and except as set forth in Section 7.08 below (a) all sums assessed in the manner provided in this Article but unpaid, together with interest thereon and the costs of collection, including attorney’s fees
as provided above, shall become a continuing lien and charge on the Parcel covered by such Assessment, which shall bind such Parcel in the hands of the Owner, and its successors and assigns, and (b) such lien shall be superior to all other
liens and charges against the Parcel, except the liens for ad valorem taxes and for all sums unpaid on a first priority purchase money security deed to the extent it secures funds used for the purchase of such Parcel or the construction of any
Structure or other improvement thereon. The Association shall have the power to release the Assessment lien or to subordinate it to any other lien and such power shall be entirely discretionary with the Association. To evidence the Assessment lien,
the Board shall prepare a written notice of Assessment lien setting forth the amount of the unpaid indebtedness, the date that the unpaid indebtedness was due, the name of the Owner of 

 [*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An
unredacted version of this exhibit has been filed separately with the Securities and Exchange Commission. 
  

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the Parcel covered by such lien and a description of the Parcel. Such notice shall be signed by the Board and shall be recorded in the office of the Clerk of the Superior Court of Oconee County,
Georgia. Such lien for payment of Assessments shall attach with the priority set forth above from the date that such payment becomes delinquent as set forth in this Article. Subsequent to the recording of a notice of Assessment of lien as provided
above, the Association may institute suit against the Owner to foreclose the Assessment lien in the same manner as mechanics’ and materialmen’s liens are foreclosed under applicable Georgia law, and in addition or as an alternative, seek a
personal judgment against the Owner for the amount of the unpaid Assessment plus accrued interest thereon, all such remedies being cumulative. In any such suit or proceeding, the Owner shall be required to pay the costs, expenses and the
Association’s actual attorney’s fees incurred, The Association shall have the power to bid on the Parcel in question at foreclosure or other legal sale and to acquire, hold, lease, mortgage, convey or otherwise deal with the same. Upon the
written request of any holder of a deed to secure debt on any Parcel, the Association shall report to said holder any unpaid Assessments remaining unpaid on that Parcel for longer than thirty (30) days after the same is due. Any such holder
affected by the Assessment lien may, but shall not be required to, pay any unpaid Assessment and upon such payment, such mortgagee shall be assigned the debt and lien securing same, without recourse or warranty. 

7.08 Estoppel Certificate. Upon payment of such reasonable fee as may be determined from time to time by the Association and upon the written request
of any Owner, any mortgagee or any person with, or intending to acquire, any right, title or interest in the Parcel of such Owner, the Association shall furnish a written statement setting forth the amount of any Assessments or other amounts, if
any, due and owing to Association and remaining unpaid with respect to such Parcel and/or the Owner thereof and setting forth the amount of any Assessment levied against such Parcel and/or the Owner thereof which is not yet due and payable.
Notwithstanding anything to the contrary contained in this Declaration, such statement shall be conclusive against the Association to establish that for all purposes no greater or other amounts were then due or accrued and unpaid and that no other
Assessments were then levied and unpaid against such Parcel and/or Owner and the Association. 
 7.09 No Offsets. Subject to Section 7.08 above,
all Assessments shall be payable in the amounts specified in the levy thereof, and no offsets or reductions thereof shall be permitted for any reason, including, without limitation, any claim of non-use of Easement Areas, any claim against the
Association or any claim that the Association or the ARC is not properly exercising its duties and powers under this Declaration. 
 7.10 Assessment
Cap. Notwithstanding anything got the contrary contained in this Declaration, without the approval of all Class A Owners (a) no Assessments shall be made by the Association which result in the total amount of Assessments applicable to
any Parcel and the Owner thereof for any calendar year exceeding One Hundred and 00/100 Dollars ($100.00) per acre owned by such Owner (the “Assessment Cap”), which Assessment Cap shall increase by no more than five percent (5%) per
year, and (b) this Section 7,10 shall not be amended (i) without the approval of all Class A Owners during the Development Period, and (ii) without the approval of the Owners (exclusive of the Developer) having a majority of
the Voting Share after the Development Period. 

 [*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An
unredacted version of this exhibit has been filed separately with the Securities and Exchange Commission. 
  

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 ARTICLE VIII. DURATION AND AMENDMENT 

8.01 Duration. This Declaration and the Restrictions contained herein shall run with and bind the Property for the longest period permissible
under Georgia law. 
 8.02 Conveyance to a Governmental Entity. Anything in this Declaration to the contrary notwithstanding, with respect to
any portion of the Property, the provisions of this Declaration shall be inapplicable to any portion of the Property which is conveyed to a governmental entity for the purpose of providing public rights of way or utility easements, if upon such
transfer, the deed of conveyance of such fee simple title to such governmental entity expressly states that (i) this Declaration and the Restrictions contained herein shall not be applicable to its use for such governmental service or function,
and (ii) this Declaration shall automatically become applicable to any such portion of the Property if it is used for any purpose other than for providing public rights of way or utility easements. 

8.03 Amendment. Except as otherwise expressly provided in this Declaration, this Declaration and the Restrictions contained herein may not be
amended in any respect except by an amendment recorded in the Office of the Clerk of the Superior Court of Oconee County, Georgia, or in such other place of recording as may be appropriate at the time of the recording of such instrument, pursuant to
prior approval of such amendment by the Owners; provided, however, that (a) during the Development Period, this Declaration and the Restrictions may not be amended without the approval of the Developer and all Owners adversely affected thereby,
and (b) the provisions in Section 5.22 shall not be amended without the prior written consent of the Owner of Parcel described on Exhibit C attached hereto. This Section 8.03 shall not be amended without approval of the Owner of the
Parcel described on Exhibit C attached hereto. 
 ARTICLE IX. ENFORCEMENT 

9.01 Rights of Enforcement. This Declaration and the Restrictions contained herein shall inure to the benefit of and shall be enforceable by
(i) the Developer, (ii) the Association and (iii) each Owner. The Association shall enforce this Declaration and the Restrictions and exercise the Right of Abatement at the written request of any Owner. 

9.02 Right of Abatement. 
 (a) In
the event of a violation or breach of any Restriction contained in this Declaration, the Association shall give written notice by certified mail to the Owner setting forth in reasonable detail the nature of such violation or breach and the specific
action or actions needed to be taken to remedy such violation or breach. If the Owner shall fail to take reasonable steps to remedy such violation or breach within thirty (30) days after the mailing of written notice, or if such violation or
breach shall not be remedied within sixty (60) days after the mailing of said written notice (which sixty-day period shall be extended as reasonably necessary if a cure to such violation is commenced by the applicable Owner within said 30-day
period and such Owner is diligently prosecuting a cure to such violation), then the Association shall have the Right of Abatement. 
 (b) The
Right of Abatement, as used in this Declaration, means the right of the Association, through its agents and. employees, to enter at all reasonable times upon any Parcel or Structure, as to 

 [*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An
unredacted version of this exhibit has been filed separately with the Securities and Exchange Commission. 
  

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which notice of a violation, breach or other condition to be remedied has been given pursuant to this Declaration, and to take the actions specified in such notice to abate, extinguish, remove or
repair such violation, breach or other condition which may exist thereon contrary to the provisions hereof, without being deemed to have committed a trespass or wrongful act solely by reason of such entry and such actions, provided such entry and
such actions are carried out in accordance with the provisions of this Section, and with the costs thereof, including the costs of collection including reasonable attorneys’ fees, together with interest thereon at twelve percent (12%) per
annum, to be a binding obligation of such Owner enforceable in law, as well as a lien on such Owner’s Parcel enforceable in law, as well as a lien on such Owner’s Parcel enforceable pursuant to the provisions of Section 9.04 hereof.
Such lien shall be superior to any and all charges, liens or encumbrances which may in any manner arise or be imposed upon the Parcel after such entry whether arising from or imposed by judgment or decree or by any agreement, contract, mortgage,
deed to secure debt or other instrument, excepting only (i) such liens for taxes or other public charges as are by applicable Laws made superior, and (ii) first priority purchase money security deed to the extent it secures funds used for
the purchase of such Parcel or the construction of any Structure or other improvement thereon. 
 9.03 Specific Performance. Nothing contained
in this Declaration shall be deemed to affect or limit the rights of the Developer, the Association or any Owner or enforce the Restrictions by appropriate judicial proceedings or to recover damages; however, it is hereby declared that it is
impossible to measure in money the damages which will accrue to a beneficiary hereof, its transferees, successors or assigns, by reason of a violation of, or failure to perform any of the obligations provided by this Declaration; and, therefore, the
Developer, the Association and any Owner shall be entitled to relief by way of injunction or specific performance, as well as any other relief available at law or in equity to enforce the provisions hereof. 

9.04 Enforcement of Lien. If any interest, cost or other charge is not paid as required by this Declaration, the Association may bring either
(i) an action at law against the Owner obligated to pay the same, or (ii) an action by suit, judgment and foreclosure to foreclose, in accordance with the law in the same manner as foreclosure of statutory liens for the improvement of real
property, any lien created by this Declaration against the Parcel or Parcels subject to the lien, or may bring both actions, for the purpose of collecting Assessments, costs or charges plus any interest thereon and costs of collection, including
reasonable attorneys’ fees. The Association shall have the power to bid on the Parcel or Parcels at the foreclosure sale, and to acquire, hold, lease, encumber and convey the same. 

9.05 No Waiver. The failure of the Developer, the Association, or the Owner of any Parcel, his or its respective legal representatives, heirs,
successors and assigns to enforce any Restrictions herein contained shall in no event be considered a waiver of the right to do so thereafter, as to the same violation or breach or as to any violation or breach occurring prior or subsequent thereto.

 ARTICLE X. MISCELLANEOUS 
 10.01
No Reverter. No Restriction herein is intended to be, or shall be construed as, a condition subsequent or as creating a possibility of reverter. 

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 10.02 Invalidity. A determination by a court that any provision hereof is invalid for any
reason shall not affect the validity of any other provision hereof. 
 10.03 Interpretation. The Association shall have the right to construe
and interpret the provisions of this Declaration and in the absence of an adjudication by a court of competent jurisdiction to the contrary, such construction or interpretation shall be final and binding as to all persons or property benefitted or
bound by the provisions hereof. 
 10.04 Headings. The headings of the Articles and Sections hereof are for convenience only and shall not
affect the meaning or interpretation of the contents of this Declaration. 
 10.05 Gender. Throughout this Declaration, the masculine gender
shall be deemed to include the feminine and neuter, and the singular, the plural, and vice versa. 
 10.06 Notices. All amendments, notices,
requests, objections, waivers, rejections, agreements, approvals, disclosures or consents of any kind made pursuant to this Declaration, the Development Guidelines, or with respect to the Restrictions, whether made by the Developer, the Association
or any committee thereof, any Owner or any other person shall be in writing. Any such communication to the Developer shall be deemed effective for all purposes as of the date such communication is mailed, postage prepaid by registered or certified
mail, return receipt requested, addressed to the Developer at the Oconee County Board of Commissioners, Oconee County Courthouse, Watkinsville, Georgia 30677, or at such other address as may be furnished by the Developer. Any such communication to
the Association shall be deemed effective for all purposes as of the date such communication is mailed, postage prepaid by registered or certified mail, return receipt requested, addressed to the Association at the Oconee County Board of
Commissioners, Oconee County Courthouse, Watkinsville, Georgia 30677, or at such other address as may be furnished by the Association. Any such communication to any Owner shall be effective for all purposes as of the date such communication is
mailed, postage prepaid, by registered or certified mail, return receipt requested, addressed to such Owner at his address as listed on the real property ad valorem tax records of Oconee County, Georgia. Owners shall have the right to designate
another or additional notice addresses by providing written notice to the Association. 
 10.07 Developer to Act for Board and ARC.
Notwithstanding anything contained in this Declaration to the contrary, it is understood and agreed that, from the date of this Declaration through December 31, 2013, the Developer shall have the right to act for and on behalf of the Board and
ARC with respect to all matters in this Declaration requiring the approval or other action of the Board or the ARC (or both of them). 

[Balance of Page Intentionally Left Blank] 

 [*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An
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 IN WITNESS WHEREOF, the Developer has caused this Declaration to be duly executed
under seal, as of the date first above written. 
  

							
	Signed, sealed and delivered in the presence of:	 		 	Oconee County Industrial Development Authority
				
	

	 		 	By:	 	

	  
	 		 		 	  

	Unofficial Witness	 		 		 	Chairman
				
	

	 		 	Attest	 	

	  
	 		 		 	  

	Notary Public	 		 		 	Secretary
				
	[AFFIX NOTARY SEAL]	 		 		 	(Authority Seal)
	

	 		 		 	

 [*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An
unredacted version of this exhibit has been filed separately with the Securities and Exchange Commission. 
  

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 Exhibit A 

All that tract or parcel of land, situate, lying and being partially within the city limits of Bogart, in the
240th District, G.M., Oconee County, Georgia, and being known and designated as Tract 1 containing 52.149 acres as shown on plat entitled “Survey for Oconee County Development
Authority”, by Ben McLeroy and Associates, Inc., Ben McLeroy, registered surveyor, dated August 11, 1997, recorded in Plat Book 32 page 7, in the Office of the Clerk of the Superior Court of Oconee County, Georgia, all as more particularly
shown as Tract 1 on said plat attached hereto as Exhibit A-1. 
  
 

 

 [*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An
unredacted version of this exhibit has been filed separately with the Securities and Exchange Commission. 
  

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 EXHIBIT A-1 
  

 

 [*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An
unredacted version of this exhibit has been filed separately with the Securities and Exchange Commission. 
  

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 Exhibit B 

All that tract or parcel of land, situate, lying and being partially within the city limits of Bogart, in the
240th District, G.M., Oconee County, Georgia, and being known and designated as Tract 4 containing 52.827 acres as shown on plat entitled “Survey for Oconee County Development
Authority”, by Ben McLeroy and Associates, Inc., Ben McLeroy, registered surveyor, dated August 11, 1997, recorded in Plat Book 32 page 7, in the Office of the Clerk of the Superior Court of Oconee County, Georgia, all as more particularly
shown as Tract 4 on said plat attached hereto as Exhibit B-1. 

 [*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An
unredacted version of this exhibit has been filed separately with the Securities and Exchange Commission. 
  

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 EXHIBIT B-1 
  

 

 [*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An
unredacted version of this exhibit has been filed separately with the Securities and Exchange Commission. 
  

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 EXHIBIT C 

All that tract or parcel of land lying in and being a part of the 240th GMD of Oconee County, Georgia,
containing 12.616 acres and being shown as Tract 1 on an ALTA/ACSM Land Title Survey by Ben McLeroy and Associates, Inc. for Rooker Company dated July 17, 2013 and being more particularly described as follows and shown on said survey attached
hereto as Exhibit C-1: 
 Commence at a 1/2 inch reinforcing rod situated at the point of intersection formed by the southerly right of way line of Aiken
Road (80’ R/W) and the westerly right of way line of McNutt Creek Road (80’ R/W), said 1/2 inch reinforcing rod being the TRUE POINT OF BEGINNING; run thence the following courses and distances along the westerly right of way line of
McNutt Creek Road: (i) South 39 degrees 21 minutes 10 seconds West 98.40 feet to a point, (ii) 151.27 feet along and around a curve with a counter-clockwise rotation and a radius of 5813.02 feet, the chord measurement thereof being South 38 degrees
36 minutes 26 seconds West 151.27 feet to a 1/2 inch reinforcing rod; thence leaving said right-of-way the following courses and distances: (i) North 51 degrees 40 minutes 32 seconds West 203.33 feet to a 1/2 inch reinforcing rod, (ii) South 36
degrees 26 minutes 26 seconds West 222.35 feet to a 1/2 inch reinforcing rod, (iii) South 55 degrees 30 minutes 58 seconds East 203.42 feet to a 1/2 inch reinforcing rod situated on the westerly right of way line of McNuttt Creek Road; run thence
250.49 feet along the westerly right of way line of McNutt Creek Road, along and around a curve with a counter-clockwise rotation and a radius of 2106.00 feet, the chord measurement thereof being South 31 degrees 31 minutes 29 seconds West 250.35
feet to a 1/2 inch reinforcing rod; thence leaving said right-of-way the following courses and distances: (i) North 62 degrees 33 minutes 08 seconds West 2.26 feet to a point, (ii) 165.77 feet along and around a curve with a counter-clockwise
rotation and a radius of 280.00 feet, the chord measurement thereof being North 79 degrees 30 minutes 45 seconds West 163.36 feet to a point, (iii) South 83 degrees 31 minutes 38 seconds West 100.53 feet to a point, (iv) 169.59 feet along and around
a curve with a clockwise rotation and a radius of 220.00 feet, the chord measurement thereof being North 74 degrees 23 minutes 22 seconds West 165.42 feet to a point, (v) North 52. degrees 18 minutes 22 seconds West 144.07 feet to a point, (vi)
144.14 feet along and around a curve with a counter-clockwise rotation and a radius of 280.00 feet, the chord measurement thereof being North 67 degrees 03 minutes 14 seconds West 142.56 feet to a 1/2 inch reinforcing rod; run thence the following
courses and distances: (i) North 15 degrees 41 minutes 12 seconds East 165.79 feet to a 1/2 inch reinforcing rod, (ii) North 36 degrees 26 minutes 20 seconds East 726.16 feet to a 1/2 inch reinforcing rod situated on the southerly right of way line
of Aiken Road; run thence the following courses and distances along the southerly right of way line of Aiken Road: (i) 238.71 feet along and around a curve with a clockwise rotation and a radius of 6234.71 feet, the chord measurement thereof being
South 62 degrees 36 minutes 35 seconds East 238.70 feet to a point, (ii) 473.58 feet along and around a curve with a clockwise rotation and a radius of 2353.61 feet, the chord measurement thereof being South 55 degrees 45 minutes 03 seconds East
472.58 feet to a 1/2 inch reinforcing rod being the TRUE POINT OF BEGINNING. 

 [*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An
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 EXHIBIT C-1 
  

 

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 EXHIBIT D 

PLAN OF EASEMENTS 
  

 

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 EXHIBIT “D” 

Landlord’s and Tenant’s Maintenance, Repair and Replacement Obligations 

LANDLORD OBLIGATIONS: Roof, foundations, structural components, exterior walls (exclusive of all glass and exterior doors), all utility, electrical and
other components and systems and amenities serving the Buildings to the extent such utilities are located outside the Buildings (including all roads) and any items not specifically listed as Tenant’s obligations below, but specifically
excluding all of the items listed as Tenant Obligations below. 
 TENANT OBLIGATIONS: HVAC equipment, mechanical systems, warehouse lighting, office
lighting, outside lighting, electrical systems, interior of the Buildings (except as specifically set forth above as Landlord’s obligations), plumbing, landscaping, all maintenance and repairs necessary or required to Tenant’s fixtures,
equipment, alterations and improvements installed by Tenant. 

  
 58 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 EXHIBIT “E” 

Right of First Refusal 
 During
the Term of the Lease and provided no Event of Default then exists beyond any applicable notice and cure period, Landlord hereby grants to Tenant a right of first refusal to purchase the Premises (the “Right of First Refusal”) on
the terms set forth below. 
 1. If Landlord shall receive, at any time during the Term, a bona fide offer (including, but not limited to, a
proposed contract or letter of intent) to purchase the Premises or any portion thereof (herein an “Offer”) and if such Offer is acceptable to Landlord, Landlord shall give Tenant the first right to purchase said Premises (or designated
part thereof) upon the same terms and conditions of such Offer. Except as set forth below, any agreement to transfer of membership, stock, partnership interest or other ownership interest in Landlord (whether directly or indirectly) shall constitute
an Offer and shall be subject to Tenant’s Right of First Refusal herein, in which case the term “Premises” used in this Exhibit “E” shall mean such ownership interest. Landlord shall sell the Premises pursuant
to a written offer to purchase only and will not accept any oral offer to purchase the Premises. Landlord shall, promptly following its determination that such an Offer is acceptable, deliver to Tenant a written notice that such an acceptable Offer
has been received and include a fully-executed copy of such Offer, which Offer shall include (without limitation) the exact property to be sold, the proposed sale price, the period for due diligence review of the Premises, the amount of time prior
to the closing date, and the name and address of the prospective purchaser to the extent known to Landlord. Tenant shall then have ten (10) business days after receipt of said notice to accept the terms and conditions of said Offer by giving
written notice to that effect to Landlord. If Tenant shall give such notice of acceptance to Landlord as aforesaid, the sale shall be consummated in accordance with the terms of said Offer and of those terms set out in this Exhibit
“E” which are not inconsistent therewith, and Landlord’s interest in the Premises (or designated portion thereof) shall be conveyed to Tenant by a good and sufficient Limited Warranty Deed conveying a good and clear record and
marketable title thereto, free from all (a) monetary and voluntary liens and encumbrances except ad valorem taxes not past due, and (b) other liens and encumbrances except as stated in the Offer, and Landlord and Tenant shall proceed in
good faith and with reasonable diligence to effect such conveyance. In the event that Tenant shall reject said terms and conditions or fail to give notice to Landlord within said ten (10) business day period, Landlord may proceed to sell the
Premises (or such designated portion thereof) to such party or any other third party during the following six (6) month period from the date Tenant rejects (or is deemed to have rejected) the Offer at no less than 97% of the price set forth in
the Offer and upon substantially the same terms, provisions and conditions as set forth in the Offer. In the event that (i) Landlord fails to timely consummate a sale subject to the Right of First Refusal as herein permitted, or
(ii) Landlord receives a bona fide offer to purchase any portion of the Premises not the subject of a prior Offer, then in each instance Landlord shall thereafter give Tenant notice of any succeeding bona fide Offer to purchase the Premises or
any portion thereof which may be acceptable to Landlord during the Term. Should Landlord consummate a sale to an unrelated third party as herein permitted, then the Right of First Refusal with respect only to that portion of the Premises that is the
subject of such conveyance shall be forever terminated and shall be of no further force and effect. In addition, if Tenant exercises the Right of First Refusal and thereafter fails to close the purchase of the Premises for any reason other than a
default by Landlord, then the Right of First Refusal with respect only to that portion of the Premises that is the subject of such proposed conveyance shall also be forever terminated and of no further force and effect. 

2. The foregoing shall not limit or restrict the rights of any bona fide mortgagee of Landlord from exercising any rights that it may have
under its mortgage. The Right of First Refusal shall not apply to transfers in connection with a condemnation and the Right of First Refusal shall terminate as to any property conveyed in a condemnation. Nothing contained herein shall prevent Tenant
from bidding at any foreclosure sale or otherwise make arrangements with any lender to purchase all or any portion of the Premises. 

  
 59 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

					
	[*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Securities and Exchange
Commission.

  

 3. The Right of First Refusal shall not apply to transfers among the existing members,
stockholders, partners or other persons or entities having a current ownership interest in Landlord (collectively “Owners”) or to companies wholly owned or controlled by Landlord or family members of one or more of the Owners or to
entities wholly owned and controlled by such family members or to any financing with an institutional lender (i.e., a bank or insurance company) or foreclosure sale or deed in lieu of foreclosure. Upon any foreclosure sale or deed in lieu of
foreclosure by such an institutional lender, the Right of First Refusal shall automatically terminate. 
 4. Notwithstanding an automatic
termination of the Right of First Refusal as set forth above, upon the termination of the Right of First Refusal, Tenant shall enter into a written acknowledgment evidencing such termination if requested by Landlord. 

5. No Offer shall include any value attributable to buildings or improvements on the Premises paid for by Tenant, nor shall Tenant, as the
owner of such buildings and improvements, ever be required to pay for such buildings or improvements in exercising the Right of First Refusal hereunder. 

6. If Tenant purchases the Premises, any prepaid rent will be credited against the purchase price. 

[END OF EXHIBIT “E”] 

  
 60 

 
  

	
	Tenant: Synageva Biopharma Corp., a Delaware corporation
	Address:
                                        ,
Oconee County, Georgia                     
	Landlord: RP GATEWAY, LLC, a Georgia limited liability company

 [*] = Portions of this exhibit have been omitted pursuant to a confidential treatment request. An
unredacted version of this exhibit has been filed separately with the Securities and Exchange Commission. 
  

 EXHIBIT “F” 

NON-OFFICE AREA (SHADED) 
 [* Two
pages redacted *]EX-4.1.17

 Exhibit 4.1.17 

Prepared by and Return to: 
 Mary T. Tomich, Esq. 

Dilworth Paxson LLP 
 1500 Market Street 

Suite 3500E 
 Philadelphia, PA 19102 

215-575-7000 
  

 
 FORTY-EIGHTH SUPPLEMENTAL

 INDENTURE 
 DATED
AS OF OCTOBER 1, 2013 
 TO 

INDENTURE OF MORTGAGE 
 DATED AS
OF JANUARY 1, 1941 
 AQUA PENNSYLVANIA, INC. 

TO 
 THE BANK OF NEW YORK MELLON
TRUST COMPANY, N. A., as Trustee 
  
  

 FORTY-EIGHTH SUPPLEMENTAL INDENTURE dated as of October 1, 2013, by and between AQUA
PENNSYLVANIA, INC. (f/k/a Pennsylvania Suburban Water Company), a corporation duly organized and existing under the laws of the Commonwealth of Pennsylvania (the “Company”) as successor by merger to the Philadelphia Suburban Water Company
(the “Original Company”), party of the first part, and THE BANK OF NEW YORK MELLON TRUST COMPANY, N. A., a national banking association (the “Trustee”), party of the second part. 

WHEREAS, the Original Company heretofore duly executed and delivered to The Pennsylvania Company for Insurances on Lives and Granting
Annuities, as trustee, an Indenture of Mortgage dated as of January 1, 1941 (the “Original Indenture”), which by reference is hereby made a part hereof, and in and by the Original Indenture the Original Company conveyed and mortgaged
to such trustee certain property therein described, to secure the payment of its bonds to be generally known as its “First Mortgage Bonds” and to be issued under the Original Indenture in one or more series as therein provided; and 

WHEREAS, through a series of mergers, changes of names and successions, The Bank of New York Mellon Trust Company, N. A. became the
successor trustee; such mergers, changes of name and successions not involving any change in the title, powers, rights or duties of the trustee, as trustee under the Original Indenture as supplemented at the respective dates thereof; and 

WHEREAS, the Original Company duly executed and delivered to the Trustee thirty-four supplemental indentures supplemental to the
Original Indenture, and the Company duly executed and delivered to the Trustee thirteen supplemental indentures to the Original Indenture so as to subject certain additional property to the lien of the Original Indenture and to provide for the
creation of additional series of bonds; and 
 WHEREAS, pursuant to an Agreement and Plan of Merger and Reorganization dated
December 20, 2001, and effective on January 1, 2002, the Original Company agreed to merge, in conjunction with its affiliated corporations, Consumers Pennsylvania Water Company – Shenango Valley Division, Consumers Pennsylvania Water
Company – Roaring Creek Division, Consumers Pennsylvania Water Company – Susquehanna Division, Waymart Water Company, Fawn Lake Forrest Water Company, Western Utilities, Inc., and Northeastern Utilities, Inc. (such affiliates referred to
hereinafter as the “Merging Entities”) with and into the Company; and 
 WHEREAS, pursuant to the Thirty-Fifth Supplemental
Indenture dated as of January 1, 2002 (the “Thirty-Fifth Supplemental Indenture”), the Company agreed to assume the obligations of the Original Company under the Original Indenture and all supplements thereto; and 

WHEREAS, the Company has issued under the Original Indenture, as supplemented at the respective dates of issue, sixty-four series of
First Mortgage Bonds designated, respectively, as set forth in the following table, the Indenture creating each series and the principal amount of bonds thereof issued being indicated opposite the designation of such series: 

  
 2 

							
	 Designation
	  	Indenture	  	Amount	 
	 3 1/4% Series due 1971
	  	Original	  	$	16,375,000	  
	 9 5/8% Series due 1975
	  	Thirteenth Supplemental	  	 	10,000,000	  
	 9.15% Series due 1977
	  	Fourteenth Supplemental	  	 	10,000,000	  
	 3% Series due 1978
	  	First Supplemental	  	 	2,000,000	  
	 3 3/8% Series due 1982
	  	Second Supplemental	  	 	4,000,000	  
	 3.90% Series due 1983
	  	Third Supplemental	  	 	5,000,000	  
	 3 1/2% Series due 1986
	  	Fourth Supplemental	  	 	6,000,000	  
	 4 1/2% Series due 1987
	  	Fifth Supplemental	  	 	4,000,000	  
	 4 1/8% Series due 1988
	  	Sixth Supplemental	  	 	4,000,000	  
	 5% Series due 1989
	  	Seventh Supplemental	  	 	4,000,000	  
	 4 5/8% Series due 1991
	  	Eighth Supplemental	  	 	3,000,000	  
	 4.70% Series due 1992
	  	Ninth Supplemental	  	 	3,000,000	  
	 6 7/8% Series due 1993
	  	Twelfth Supplemental	  	 	4,500,000	  
	 4.55% Series due 1994
	  	Tenth Supplemental	  	 	4,000,000	  
	 10 1/8% Series due 1995
	  	Sixteenth Supplemental	  	 	10,000,000	  
	 5 1/2% Series due 1996
	  	Eleventh Supplemental	  	 	4,000,000	  
	 7 7/8% Series due 1997
	  	Fifteenth Supplemental	  	 	5,000,000	  
	 8.44% Series due 1997
	  	Twenty-Third Supplemental	  	 	12,000,000	  
	 9.20% Series due 2001
	  	Seventeenth Supplemental	  	 	7,000,000	  
	 8.40% Series due 2002
	  	Eighteenth Supplemental	  	 	10,000,000	  
	 5.95% Series due 2002
	  	Twenty-Seventh Supplemental	  	 	4,000,000	  
	 12.45% Series due 2003
	  	Twentieth Supplemental	  	 	10,000,000	  
	 13% Series due 2005
	  	Twenty-First Supplemental	  	 	8,000,000	  
	 10.65% Series due 2006
	  	Twenty-Second Supplemental	  	 	10,000,000	  
	 9.89% Series due 2008
	  	Twenty-Fourth Supplemental	  	 	5,000,000	  
	 7.15% Series due 2008
	  	Twenty-Eighth Supplemental	  	 	22,000,000	  
	 9.12% Series due 2010
	  	Twenty-Fifth Supplemental	  	 	20,000,000	  
	 8 7/8% Series due 2010
	  	Nineteenth Supplemental	  	 	8,000,000	  
	 6.50% Series due 2010
	  	Twenty-Seventh Supplemental	  	 	3,200,000	  
	 9.17% Series due 2011
	  	Twenty-Sixth Supplemental	  	 	5,000,000	  
	 9.93% Series due 2013
	  	Twenty-Fourth Supplemental	  	 	5,000,000	  
	 9.97% Series due 2018
	  	Twenty-Fourth Supplemental	  	 	5,000,000	  
	 9.17% Series due 2021
	  	Twenty-Sixth Supplemental	  	 	8,000,000	  
	 6.35% Series due 2025
	  	Thirtieth Supplemental	  	 	22,000,000	  
	 9.29% Series due 2026
	  	Twenty-Sixth Supplemental	  	 	12,000,000	  
	 1995 Medium Term Note Series
	  	Twenty-Ninth Supplemental	  	 	77,000,000	  
	 7.72% Subseries A due 2025
	  	15,000,000	  			
	 6.82% Subseries B due 2005
	  	10,000,000	  			
	 6.89% Subseries C due 2015
	  	12,000,000	  			
	 6.99% Subseries D due 2006
	  	10,000,000	  			
	 7.47% Subseries E due 2003
	  	10,000,000	  			
	 6.83% Subseries F due 2003
	  	10,000,000	  			
	 7.06% Subseries G due 2004
	  	10,000,000	  			
	 1997 Medium Term Note Series
	  	Thirty-First Supplemental	  	 	65,000,000	  
	 6.75% Subseries A due 2007
	  	10,000,000	  			

  
 3 

									
	 6.30% Subseries B due 2002
	  	 	10,000,000            	  	  			
	 6.14% Subseries C due 2008
	  	 	10,000,000            	  	  			
	 5.80% Subseries D due 2003
	  	 	10,000,000            	  	  			
	 5.85% Subseries E due 2004
	  	 	10,000,000            	  	  			
	 6.00% Subseries F due 2004
	  	 	15,000,000            	  	  			
	 6.00% Series due 2029
	  	 	Thirty-Second Supplemental	  	  	 	25,000,000	  
	 1999 Medium Term Note Series
	  	 	Thirty-Third Supplemental	  	  	 	222,334,480	  
	 7.40% Subseries A due 2005
	  	 	15,000,000            	  	  			
	 7.40% Subseries B due 2005
	  	 	11,000,000            	  	  			
	 6.21% Subseries C due 2011
	  	 	15,000,000            	  	  			
	 9.53% Subseries D due 2019
	  	 	4,000,000            	  	  			
	 6.375% Subseries E due 2023
	  	 	14,000,000            	  	  			
	 8.26% Subseries F due 2022
	  	 	1,500,000            	  	  			
	 9.50% Subseries G due 2006
	  	 	1,440,000            	  	  			
	 9.22% Subseries H due 2019
	  	 	2,534,480            	  	  			
	 8.32% Subseries I due 2022
	  	 	3,500,000            	  	  			
	 8.14% Subseries J due 2025
	  	 	4,000,000            	  	  			
	 6.00% Subseries K due 2030
	  	 	18,360,000            	  	  			
	 5.93% Subseries L due 2012
	  	 	25,000,000            	  	  			
	 2.65% Subseries M due 2006
	  	 	5,000,000            	  	  			
	 3.461% Subseries N due 2007
	  	 	12,000,000            	  	  			
	 5.08% Subseries O due 2015
	  	 	20,000,000            	  	  			
	 5.17% Subseries P due 2017
	  	 	7,000,000            	  	  			
	 5.751% Subseries Q due 2019
	  	 	15,000,000            	  	  			
	 5.751% Subseries R due 2019
	  	 	5,000,000            	  	  			
	 6.06% Subseries S due 2027
	  	 	15,000,000            	  	  			
	 6.06% Subseries T due 2027
	  	 	5,000,000            	  	  			
	 5.98% Subseries U due 2028
	  	 	3,000,000            	  	  			
	 5.35% Series due 2031
	  	 	Thirty-Fourth Supplemental	  	  	 	30,000,000	  
	 5.55% Series due 2032
	  	 	Thirty-Sixth Supplemental	  	  	 	25,000,000	  
	 3.75% Series due 2010
	  	 	Thirty-Seventh Supplemental	  	  	 	3,200,000	  
	 5.15% Series due 2032
	  	 	Thirty Seventh Supplemental	  	  	 	25,000,000	  
	 5.05% Series due 2039
	  	 	Thirty-Eighth Supplemental	  	  	 	14,000,000	  
	 5.00% Series due 2036

5.00% Series due 2037

5.00% Series due 2038
	  	 
  
  
	Thirty-Ninth Supplemental
 Thirty-Ninth Supplemental

Thirty-Ninth Supplemental
	  
   

  
	  	 
  
  
	21,770,000
 24,165,000

25,375,000
	  
   

  

	 5.00% Series due 2035
	  	 	Fortieth Supplemental	  	  	 	24,675,000	  
	 5.00% Series due 2040
	  	 	Forty-first Supplemental	  	  	 	23,915,000	  
	 5.00% Series due 2041
	  	 	Forty-first Supplemental	  	  	 	23,915,000	  
	 5.25% Series due 2042
	  	 	Forty-second Supplemental	  	  	 	24,830,000	  
	 5.25% Series due 2043
	  	 	Forty-second Supplemental	  	  	 	24,830,000	  
	 6.25% Series due 2017
	  	 	Forty-third Supplemental	  	  	 	9,000,000	  
	 6.75% Series due 2018
	  	 	Forty-third Supplemental	  	  	 	13,000,000	  
	 5.00% Series due 2039
	  	 	Forty-fourth Supplemental	  	  	 	58,000,000	  
	 5.00% Series due 2040
	  	 	Forty-fifth Supplemental	  	  	 	62,165,000	  
	 4.75% Series due 2040
	  	 	Forty-fifth Supplemental	  	  	 	12,520,000	  
	 5.00% Series due 2033
	  	 	Forty-sixth Supplemental	  	  	 	25,910,000	  
	 5.00% Series due 2034
	  	 	Forty-sixth Supplemental	  	  	 	19,270,000	  
	 4.50% Series due 2042
	  	 	Forty-sixth Supplemental	  	  	 	15,000,000	  
	 5.00% Series due 2043
	  	 	Forty-sixth Supplemental	  	  	 	81,205,000	  
	 3.79% Series due 2041
	  	 	Forty-seventh Supplemental	  	  	 	40,000,000	  
	 3.80% Series due 2042
	  	 	Forty-seventh Supplemental	  	  	 	20,000,000	  
	 3.85% Series due 2047
	  	 	Forty-seventh Supplemental	  	  	 	20,000,000	  

  
 4 

 and 

WHEREAS, the bonds of each of said series that are outstanding as of June 30, 2013 are listed on Exhibit A attached hereto and
made a part hereof; and 
 WHEREAS, in order to secure the lien of the Original Indenture on the properties of the Original Company and the
Company, the Original Indenture and the first forty-seven supplemental indentures supplemental to the Original Indenture were duly recorded in the Commonwealth of Pennsylvania on the dates and in the office for the Recording of Deeds for the
counties and in the Mortgage Books at the pages indicated in Exhibit B hereto; and 
 WHEREAS, in addition to the property described
in the Original Indenture and the First through Forty-seventh Supplemental Indentures thereto, the Company has acquired certain other property and desires to confirm the lien of the Original Indenture thereon and in order to confirm such lien shall
cause this Forty-eighth Supplemental Indenture, with a true and correct copy of the Original Indenture attached hereto as Exhibit D (redacted to delete property descriptions for counties in which such Original Indenture has already been
recorded) to be recorded in the offices for the Recording of Deeds for the county of Clearfield; and 
 WHEREAS, the lien of the Original
Indenture, as supplemented, has been perfected as a security interest under the Pennsylvania Uniform Commercial Code by filing a financing statement in the office of the Secretary of the Commonwealth; and 

WHEREAS, the Company proposes to create under the Original Indenture, as supplemented by this Forty-eighth Supplemental Indenture, three
series of bonds to be designated (i) “First Mortgage Bond, 3.94% Series due 2031” (herein referred to as the “3.94% Series due 2031”) to be limited in aggregate principal amount to $25,000,000, to bear interest at the rate
of 3.94% per annum, and to mature on November 1, 2031, (ii) “First Mortgage Bond, 4.61% Series due 2045” (herein referred to as the “4.61% Series due 2045”) to be limited in aggregate principal amount to
$25,000,000, to bear interest at the rate of 4.61% per annum, and to mature on November 1, 2045, and (iii) “First Mortgage Bond, 4.62% Series due 2046” (herein referred to as the “4.62% Series due 2046”) to be
limited in aggregate principal amount to $25,000,000, to bear interest at the rate of 4.62% per annum, and to mature on November 1, 2046 (the 3.94% Series due 2031, the 4.61% Series due 2045 and the 4.62% Series due 2046 are collectively
referred to as the “Bonds”), each such series to be issued only as registered bonds without coupons and to be dated the date of delivery thereof; and 

WHEREAS, the Company intends to use the proceeds of the Bonds for general corporate purposes, including reducing the outstanding amount of
short-term lines of credit; and 
 WHEREAS, the Company proposes to issue the Bonds under the provisions of Article IV of the Original
Indenture, as supplemented by the indentures supplemental thereto, including this Forty-eighth Supplemental Indenture, and will comply with the provisions thereof as well as with other provisions of the Original Indenture and indentures supplemental
thereto in connection with the issuance of additional bonds so that it will be entitled to procure the authentication and delivery of the Bonds; and 

  
 5 

 WHEREAS, Article XVIII of the Original Indenture provides that the Company, when authorized by
resolution of its Board of Directors, may with the Trustee enter into an indenture supplemental to the Original Indenture, which thereafter shall form a part of the Original Indenture, for the purposes, inter alia, of subjecting to the
lien of the Original Indenture additional property, of defining the covenants and provisions applicable to any bonds of any series other than the 3 1/4% Series due 1971, of adding to the covenants and agreements of the Company contained in the
Original Indenture other covenants and agreements thereafter to be observed by the Company, of surrendering any right or power in the Original Indenture reserved to or conferred upon the Company, and of making such provisions in regard to matters or
questions arising under the Original Indenture as may be necessary or desirable and not inconsistent therewith; and 
 WHEREAS, the Company,
by proper corporate action, has duly authorized the creation of the 3.94% Series due 2031, the 4.61% Series due 2045 and the 4.62% Series due 2046 (to be issued in accordance with the terms and provisions of the Original Indenture and indentures
supplemental thereto, including this Forty-eighth Supplemental Indenture, and to be secured by said Original Indenture and indentures supplemental thereto, including this Forty-eighth Supplemental Indenture), and has further duly authorized the
execution, delivery and recording of this Forty-eighth Supplemental Indenture setting forth the terms and provisions of the 3.94% Series due 2031, the 4.61% Series due 2045 and the 4.62% Series due 2046 insofar as said terms and provisions are not
set forth in said Original Indenture; and 
 WHEREAS, the Bonds and the Trustee’s certificate upon said Bonds are to be substantially
in the following form—the proper amount, names of registered owners and numbers to be inserted therein, and such appropriate insertions, omissions and changes to be made therein as may be required or permitted by this Forty-eighth Supplemental
Indenture to conform to any pertinent law or usage: 
 [continued on next page] 

  
 6 

 THIS BOND HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND SALES
OR OTHER TRANSFERS HEREOF MAY BE MADE ONLY TO QUALIFIED INSTITUTIONAL BUYERS AS DEFINED IN RULE 144A UNDER THE ACT (“QUALIFIED INSTITUTIONAL BUYERS”), IN TRANSACTIONS EXEMPT FROM, OR NOT SUBJECT TO, REGISTRATION UNDER THE ACT. 

BY ITS ACCEPTANCE OF THIS BOND, THE HOLDER REPRESENTS AND AGREES THAT IT IS A QUALIFIED INSTITUTIONAL BUYER AND THAT THIS BOND IS BEING ACQUIRED FOR ITS OWN
ACCOUNT (AND NOT FOR THE ACCOUNT OF OTHERS) OR AS A FIDUCIARY FOR OTHERS FOR INVESTMENT AND NOT WITH A VIEW TO, OR FOR SALE IN CONNECTION WITH, THE PUBLIC DISTRIBUTION HEREOF IN ANY TRANSACTION THAT WOULD BE IN VIOLATION OF FEDERAL OR STATE
SECURITIES LAWS, AND THAT ANY RESALE OR OTHER TRANSFER HEREOF OR ANY INTEREST HEREIN PRIOR TO THE DATE THAT IS TWO YEARS AFTER THE LATER OF (A) ITS DATE OF ISSUE OR (B) THE LAST DATE ON WHICH THE COMPANY OR ANY OF ITS AFFILIATES WAS THE
BENEFICIAL OWNER HEREOF WILL BE MADE ONLY (1) TO A PLACEMENT AGENT OR THE COMPANY, (2) THROUGH ANY PLACEMENT AGENT OR BY ANY PLACEMENT AGENT ACTING AS PRINCIPAL TO A QUALIFIED INSTITUTIONAL BUYER, IN EACH CASE APPROVED BY SUCH PLACEMENT
AGENT, (3) DIRECTLY TO A QUALIFIED INSTITUTIONAL BUYER APPROVED BY THE COMPANY IN A TRANSACTION APPROVED BY THE COMPANY, (4) THROUGH A DEALER OTHER THAN A PLACEMENT AGENT TO A QUALIFIED INSTITUTIONAL BUYER, IN EACH CASE IN A TRANSACTION
APPROVED BY THE COMPANY, OR (5) DIRECTLY TO A QUALIFIED INSTITUTIONAL BUYER IN A TRANSACTION THAT MEETS THE REQUIREMENTS OF RULE 144A UNDER THE ACT, SUBJECT TO IN EACH CASE THE DISPOSITION OF THE PURCHASER’S PROPERTY BEING AT ALL TIMES
WITHIN ITS CONTROL. IN THE CASE OF CERTIFICATED BONDS, ANY TRANSFER DESCRIBED IN CLAUSE (3), (4) OR (5) ABOVE REQUIRES THE SUBMISSION TO THE TRUSTEE (AS DEFINED HEREIN) OR ANY DULY AUTHORIZED PAYING AGENT OF THE CERTIFICATE OF TRANSFER
ATTACHED HERETO DULY COMPLETED OR A DULY COMPLETED TRANSFER INSTRUMENT SUBSTANTIALLY IN THE FORM OF THE CERTIFICATE OF TRANSFER. THE COMPANY SHALL NOT RECOGNIZE ANY RESALE OR OTHER TRANSFER, OR ATTEMPTED RESALE OR OTHER TRANSFER, OF THIS BOND NOT
MADE IN COMPLIANCE WITH THE FOREGOING PROVISIONS. THIS BOND AND RELATED DOCUMENTATION MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME TO MODIFY THE RESTRICTIONS ON THE PROCEDURES FOR RESALES AND OTHER TRANSFERS OF THIS BOND TO REFLECT ANY CHANGE IN
APPLICABLE LAW OR REGULATION (OR THE INTERPRETATION THEREOF) OR PROVIDE ALTERNATIVE PROCEDURES IN COMPLIANCE WITH APPLICABLE LAW AND PRACTICES RELATING TO THE RESALE OR OTHER TRANSFER OF RESTRICTED SECURITIES GENERALLY. THE HOLDER OF THIS BOND SHALL
BE DEEMED, BY THE ACCEPTANCE OF THIS BOND, TO HAVE AGREED TO ANY SUCH AMENDMENT OR SUPPLEMENT. 

  
 7 

			
	No. R-	  	[PPN]

 $  
 AQUA
PENNSYLVANIA, INC. 
 (Incorporated under the Laws of the Commonwealth 

of Pennsylvania) 
 First Mortgage
Bond, 3.94% Series due 2031 
 Aqua Pennsylvania, Inc. (f/k/a known as Pennsylvania Suburban Water Company, successor by merger to
Philadelphia Suburban Water Company), a corporation organized and existing under the laws of the Commonwealth of Pennsylvania (hereinafter called the “Company”, which term shall include any successor corporation as defined in the Indenture
hereinafter referred to), for value received, hereby promises to pay to                     or its registered assigns, on the 1st day of November,
2031 (the “Maturity Date”), at the address designated by the registered owner pursuant to Section 11.1 of the Bond Purchase Agreement dated as of October 24, 2013, between the Company and the Purchasers listed therein (the
“Bond Purchase Agreement”), the sum of              Million Dollars in such coin or currency of the United States of America as at the time of payment is legal tender for the
payment of public and private debts and to pay interest thereon to the registered owner hereof by wire transfer of immediately available funds in accordance with Section 11.1 of the Bond Purchase Agreement to such registered owner from the
interest payment date next preceding the date of the authentication of this bond (or if this bond is authenticated after a Record Date as defined below and on or before the succeeding interest payment date, from such succeeding interest payment
date, or if this bond is authenticated on or prior to May 1, 2014 from the date hereof) until the principal hereof shall become due and payable, at the rate of 3.94% per annum, payable semiannually in like coin or currency on the 1st day of May and the 1st day of November in each year, commencing May 1, 2014 and to pay interest on overdue principal (including any overdue
required or optional prepayment of principal) and premium, if any, and, to the extent legally enforceable, on any overdue installment of interest at a rate of 5.94% per annum after maturity whether by acceleration or otherwise until paid. 

The interest so payable will (except as otherwise provided in the Forty-eighth Supplemental Indenture referred to herein) be calculated on the
basis of a 360-day year of twelve 30-day months and be paid to the person in whose name this bond (or a bond or bonds in exchange for which this bond was issued) is registered at the close of business on the
15th day of the calendar month preceding the month in which the interest payment date occurs whether or not such day is a business day (a “Record Date”) and principal, premium, if any,
and interest on this bond shall be paid by the Company in accordance with written payment instructions of the registered owner delivered to the Company on or before such record date. 

  
 8 

 This bond is one of a duly authorized issue of bonds of the Company known as its First Mortgage
Bonds, issued and to be issued without limitation as to aggregate principal amount except as set forth in the Indenture hereinafter mentioned in one or more series and equally secured (except insofar as a sinking fund or other similar fund
established in accordance with the provisions of the Indenture may afford additional security for the bonds of any specific series) by an Indenture of Mortgage (herein called the “Indenture”) dated as of January 1, 1941, executed by
the Philadelphia Suburban Water Company (now Aqua Pennsylvania, Inc., f/k/a Pennsylvania Suburban Water Company, as successor by merger) to The Pennsylvania Company for Insurances on Lives and Granting Annuities (succeeded as trustee by The Bank of
New York Mellon Trust Company, N.A.), as Trustee (the “Trustee”), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the property mortgaged and pledged, the nature and extent of the
security, the rights of the holders and registered owners of the bonds and of the Trustee in respect of such security, and the terms and conditions under which the bonds are and are to be secured and may be issued under the Indenture; but neither
the foregoing reference to the Indenture nor any provision of this bond or of the Indenture or of any indenture supplemental thereto shall affect or impair the obligation of the Company, which is absolute and unconditional, to pay at the stated or
accelerated maturity herein and in the Indenture provided, the principal of and premium, if any, and interest on this bond as herein provided. As provided in the Indenture, the bonds may be issued in series for various principal amounts, may bear
different dates and mature at different times, may bear interest at different rates and may otherwise vary as in the Indenture provided or permitted. This bond is one of the bonds described in the Forty-eighth Supplemental Indenture (the
“Forty-eighth Supplemental Indenture”) dated as of October 1, 2013, and designated therein as “First Mortgage Bond, 3.94% Series due 2031” in the aggregate principal amount of $25,000,000 (the “Bonds”). 

Concurrently with the issuance of the Bonds, the Company is issuing its “First Mortgage Bond, 4.61% Series due 2045” in the
aggregate principal amount of $25,000,000 and its “First Mortgage Bond, 4.62% Series due 2046” in the aggregate principal amount of $25,000,000. 

To the extent permitted by and as provided in the Indenture, modifications or alterations of the Indenture, or of any indenture supplemental
thereto, and of the rights and obligations of the Company and of the holders and registered owners of bonds issued and to be issued thereunder may be made with the consent of the Company by an affirmative vote of the holders and registered owners of
not less than 75% in principal amount of bonds then outstanding under the Indenture and entitled to vote, at a meeting of the bondholders called and held as provided in the Indenture, and, in case one or more but less than all of the series of bonds
then outstanding under the Indenture are so affected, by an affirmative vote of the holders and registered owners of not less than 75% in principal amount of bonds of any series then outstanding under the Indenture and entitled to vote on and
affected by such modification or alteration, or by the written consent of the holders and registered owners of such percentages of bonds; provided, however, that no such modification or alteration shall be made which shall reduce the percentage of
bonds the consent of the holders or registered owners of which is required for any such modification or alteration or which shall affect the terms of payment of the principal of or interest on the bonds, or permit the creation by the Company of any
lien prior to or on a parity with the lien of the Indenture with respect to any property subject to the lien of the Indenture as a first mortgage lien thereon, or which shall affect the rights of the holders or registered owners of less than all of
the bonds of any series affected thereby. 
 The Company may, at its option, upon notice as provided below, redeem at any time all, or from
time to time any part of, the Bonds, in an amount not less than 10% of the aggregate principal amount of the Bonds then outstanding in the case of a partial redemption, at 100% of the principal amount so redeemed, together with interest accrued
thereon to the date of such redemption, plus the Make-Whole Amount (as defined in the Forty-eighth Supplemental Indenture) determined for the redemption date with respect to such principal amount of each bond then outstanding. 

  
 9 

 Any redemption shall be effected by notice mailed to the registered owners thereof, as provided
in the Indenture, at least thirty (30) days and not more than forty-five (45) days before the redemption date, all on the conditions and in the manner provided in the Indenture. Each such notice shall specify such date (which shall be a
Business Day (as defined in the Forty-eighth Supplemental Indenture)), the aggregate principal amount of the Bonds to be redeemed on such date, the principal amount of each bond held by such holder to be redeemed (determined in accordance with
Article I, Section 3 of the Forty-eighth Supplemental Indenture), and the interest to be paid on the redemption date with respect to such principal amount being redeemed, and shall be accompanied by a certificate of the chief financial officer,
principal accounting officer, treasurer or comptroller (each, for purposes of this bond, a “Senior Financial Officer”) of the Company as to the estimated Make-Whole Amount due in connection with such redemption (calculated as if the date
of such notice were the date of the redemption), setting forth the details of such computation. Two Business Days prior to such prepayment, the Company shall deliver to each holder of Bonds a certificate of a Senior Financial Officer specifying the
calculation of such Make-Whole Amount as of the specified redemption date. 
 If this bond or any portion hereof is called for redemption
and payment thereof is duly provided for as specified in the Indenture, interest shall cease to accrue hereon or on such portion, as the case may be, from and after the redemption date. In the event of redemption of this bond in part only, a new
bond for the unredeemed portion hereof shall be issued in the name of the holder hereof upon the surrender hereof. 
 The principal hereof
may be declared or may become due prior to its Maturity Date on the conditions, in the manner and with the effect set forth in the Indenture upon the happening of an event of default, as in the Indenture provided; subject, however, to the right,
under certain circumstances, of the registered owners of a majority in principal amount of bonds then outstanding, including the Bonds, to annul such declaration. 

The Company, the Trustee and any Paying Agent may deem and treat the registered owner of this bond as the absolute owner hereof for the
purpose of receiving payment of or on account of the principal hereof and the interest hereon, and for all other purposes, and shall not be affected by any notice to the contrary. 

This bond is transferable by the registered owner hereof in person or by attorney duly authorized in writing, on books of the Company to be
kept for that purpose at the designated office of the Trustee in Philadelphia, Pennsylvania upon surrender hereof for cancellation at such office and upon presentation of a written instrument of transfer duly executed, and thereupon the Company
shall issue in the name of the transferee or transferees, and the Trustee shall authenticate and deliver, a new bond or bonds in authorized denominations, of equal aggregate unpaid principal amount. Any such transfer or exchange shall be subject to
the terms and conditions and to the payment of the charges specified in the Indenture. 

  
 10 

 No recourse shall be had for the payment of the principal of or interest on this bond or for any
claim based hereon or otherwise in respect hereof or of the Indenture or of any indenture supplemental thereto against any incorporator or any past, present or future stockholder, officer or director of the Company or of any predecessor or successor
corporation, as such, either directly or through the Company, or through any such predecessor or successor corporation or through any receiver or trustee in bankruptcy, by virtue of any constitutional provision, statute or rule of law or equity, or
by the enforcement of any assessment or penalty or otherwise; all such liability being, by the acceptance hereof and as part of the consideration for the issue hereof, expressly waived and released by every holder or registered owner hereof, as more
fully provided in the Indenture. 
 This bond shall not be entitled to any benefit under the Indenture or any indenture supplemental
thereto, or become valid or obligatory for any purpose, until The Bank of New York Mellon Trust Company, N. A., as Trustee under the Indenture, or a successor trustee thereunder, shall have signed the certificate of authentication endorsed hereon.

 This bond shall be deemed to be a contract and shall be construed in accordance with and governed by the laws of the Commonwealth of
Pennsylvania (excluding laws governing conflicts of law). 
 IN WITNESS WHEREOF, Aqua Pennsylvania, Inc. has caused this bond to be signed
by its President or a Vice President and its corporate seal to be hereto affixed and attested by its Secretary or an Assistant Secretary, and this bond to be
dated                . 
  

							
		 		 	AQUA PENNSYLVANIA, INC.
				
	Attest:	 		 		 	
				
	 	 		 	By	 	 
	Assistant Secretary	 		 	       (Vice) President

 [Form of Trustee’s Certificate] 

This bond is one of the Bonds, of the series designated therein, referred to in the within-mentioned Forty-eighth Supplemental Indenture. 

 

					
	 THE BANK OF NEW YORK

	 MELLON TRUST COMPANY,

	 N. A., TRUSTEE

		
	 By:
	 	 
		 	 Authorized Officer

  
 11 

 [Form of Certificate of Transfer] 

(To be delivered with a Certificated Bond to the Trustee) 

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto 

(please print or typewrite name and address including postal zip code of assignee and insert Taxpayer Identification No.) 

this bond and all rights hereunder, hereby irrevocably constituting and appointment attorney to transfer this bond the books of the Company with full power of
substitution in the premises. 
 CERTIFICATE OF TRANSFER 

(The following is not required for sales or other transfers of this bond to or through the Company or a placement agent). 

In connection with any transfer of this bond occurring prior to the date which is two years after the later of (a) the date of original
issue of this bond, or (b) the last date the Company or any of its affiliates was the beneficial owner of this bond, the undersigned confirms that: 
  

	 ̈	This bond is being transferred by the undersigned to a transferee that is, or that the undersigned reasonably believes to be, a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act
of 1933, as amended) pursuant to the exemption from registration under the Securities Act of 1933, as amended, provided by Rule 144A thereunder. 

If the foregoing box is not checked, then, so long as the accompanying bond shall bear a legend on its face restricting resales and other
transfers thereof (except in the case of a resale or other transfer made (i) to a placement agent referred to in such legend or to the Company or (ii) through a placement agent or by a placement agent acting as principal to a
“qualified institutional buyer” as defined in Rule 144A under the Securities Act of 1933, as amended, in a transaction approved by a placement agent) the Trustee shall not be obligated to register this bond in the name of any person other
than the registered owner hereof. 
 Dated: 

NOTICE: The signature of the beneficial owner to this assignment must correspond with the name as written on the face of this bond in every
particular, without alteration or enlargement or any change whatsoever. 
 TO BE COMPLETED BY PURCHASER IF THE BOX ABOVE IS CHECKED: 

The undersigned represents and warrants that it is a “qualified institutional buyer” as defined in Rule 144A under the Securities
Act of 1933, as amended, and acknowledges that it has received such information regarding the Company as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the registered
owner is relying upon the undersigned’s foregoing representations in order to claim the exemption from registration provided by Rule 144A. 
 Dated:

 NOTICE: To be executed by an officer. 

  
 12 

 THIS BOND HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND SALES
OR OTHER TRANSFERS HEREOF MAY BE MADE ONLY TO QUALIFIED INSTITUTIONAL BUYERS AS DEFINED IN RULE 144A UNDER THE ACT (“QUALIFIED INSTITUTIONAL BUYERS”), IN TRANSACTIONS EXEMPT FROM, OR NOT SUBJECT TO, REGISTRATION UNDER THE ACT. 

BY ITS ACCEPTANCE OF THIS BOND, THE HOLDER REPRESENTS AND AGREES THAT IT IS A QUALIFIED INSTITUTIONAL BUYER AND THAT THIS BOND IS BEING ACQUIRED FOR ITS OWN
ACCOUNT (AND NOT FOR THE ACCOUNT OF OTHERS) OR AS A FIDUCIARY FOR OTHERS FOR INVESTMENT AND NOT WITH A VIEW TO, OR FOR SALE IN CONNECTION WITH, THE PUBLIC DISTRIBUTION HEREOF IN ANY TRANSACTION THAT WOULD BE IN VIOLATION OF FEDERAL OR STATE
SECURITIES LAWS, AND THAT ANY RESALE OR OTHER TRANSFER HEREOF OR ANY INTEREST HEREIN PRIOR TO THE DATE THAT IS TWO YEARS AFTER THE LATER OF (A) ITS DATE OF ISSUE OR (B) THE LAST DATE ON WHICH THE COMPANY OR ANY OF ITS AFFILIATES WAS THE
BENEFICIAL OWNER HEREOF WILL BE MADE ONLY (1) TO A PLACEMENT AGENT OR THE COMPANY, (2) THROUGH ANY PLACEMENT AGENT OR BY ANY PLACEMENT AGENT ACTING AS PRINCIPAL TO A QUALIFIED INSTITUTIONAL BUYER, IN EACH CASE APPROVED BY SUCH PLACEMENT
AGENT, (3) DIRECTLY TO A QUALIFIED INSTITUTIONAL BUYER APPROVED BY THE COMPANY IN A TRANSACTION APPROVED BY THE COMPANY, (4) THROUGH A DEALER OTHER THAN A PLACEMENT AGENT TO A QUALIFIED INSTITUTIONAL BUYER, IN EACH CASE IN A TRANSACTION
APPROVED BY THE COMPANY, OR (5) DIRECTLY TO A QUALIFIED INSTITUTIONAL BUYER IN A TRANSACTION THAT MEETS THE REQUIREMENTS OF RULE 144A UNDER THE ACT, SUBJECT TO IN EACH CASE THE DISPOSITION OF THE PURCHASER’S PROPERTY BEING AT ALL TIMES
WITHIN ITS CONTROL. IN THE CASE OF CERTIFICATED BONDS, ANY TRANSFER DESCRIBED IN CLAUSE (3), (4) OR (5) ABOVE REQUIRES THE SUBMISSION TO THE TRUSTEE (AS DEFINED HEREIN) OR ANY DULY AUTHORIZED PAYING AGENT OF THE CERTIFICATE OF TRANSFER
ATTACHED HERETO DULY COMPLETED OR A DULY COMPLETED TRANSFER INSTRUMENT SUBSTANTIALLY IN THE FORM OF THE CERTIFICATE OF TRANSFER. THE COMPANY SHALL NOT RECOGNIZE ANY RESALE OR OTHER TRANSFER, OR ATTEMPTED RESALE OR OTHER TRANSFER, OF THIS BOND NOT
MADE IN COMPLIANCE WITH THE FOREGOING PROVISIONS. THIS BOND AND RELATED DOCUMENTATION MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME TO MODIFY THE RESTRICTIONS ON THE PROCEDURES FOR RESALES AND OTHER TRANSFERS OF THIS BOND TO REFLECT ANY CHANGE IN
APPLICABLE LAW OR REGULATION (OR THE INTERPRETATION THEREOF) OR PROVIDE ALTERNATIVE PROCEDURES IN COMPLIANCE WITH APPLICABLE LAW AND PRACTICES RELATING TO THE RESALE OR OTHER TRANSFER OF RESTRICTED SECURITIES GENERALLY. THE HOLDER OF THIS BOND SHALL
BE DEEMED, BY THE ACCEPTANCE OF THIS BOND, TO HAVE AGREED TO ANY SUCH AMENDMENT OR SUPPLEMENT. 

  
 13 

			
	No. R-	  	[PPN]

 $  
 AQUA
PENNSYLVANIA, INC. 
 (Incorporated under the Laws of the Commonwealth 

of Pennsylvania) 
 First Mortgage
Bond, 4.61% Series due 2045 
 Aqua Pennsylvania, Inc. (f/k/a known as Pennsylvania Suburban Water Company, successor by merger to
Philadelphia Suburban Water Company), a corporation organized and existing under the laws of the Commonwealth of Pennsylvania (hereinafter called the “Company”, which term shall include any successor corporation as defined in the Indenture
hereinafter referred to), for value received, hereby promises to pay to                      or its registered assigns, on the 1st day of November,
2045 (the “Maturity Date”), at the address designated by the registered owner pursuant to Section 11.1 of the Bond Purchase Agreement dated as of October 24, 2013, between the Company and the Purchasers listed therein (the
“Bond Purchase Agreement”), the sum of              Million Dollars in such coin or currency of the United States of America as at the time of payment is legal tender for the
payment of public and private debts and to pay interest thereon to the registered owner hereof by wire transfer of immediately available funds in accordance with Section 11.1 of the Bond Purchase Agreement to such registered owner from the
interest payment date next preceding the date of the authentication of this bond (or if this bond is authenticated after a Record Date as defined below and on or before the succeeding interest payment date, from such succeeding interest payment
date, or if this bond is authenticated on or prior to May 1, 2014 from the date hereof) until the principal hereof shall become due and payable, at the rate of 4.61% per annum, payable semiannually in like coin or currency on the 1st day of May and the 1st day of November in each year, commencing May 1, 2014 and to pay interest on overdue principal (including any overdue
required or optional prepayment of principal) and premium, if any, and, to the extent legally enforceable, on any overdue installment of interest at a rate of 6.61% per annum after maturity whether by acceleration or otherwise until paid. 

The interest so payable will (except as otherwise provided in the Forty-eighth Supplemental Indenture referred to herein) be calculated on the
basis of a 360-day year of twelve 30-day months and be paid to the person in whose name this bond (or a bond or bonds in exchange for which this bond was issued) is registered at the close of business on the
15th day of the calendar month preceding the month in which the interest payment date occurs whether or not such day is a business day (a “Record Date”) and principal, premium, if any,
and interest on this bond shall be paid by the Company in accordance with written payment instructions of the registered owner delivered to the Company on or before such record date. 

  
 14 

 This bond is one of a duly authorized issue of bonds of the Company known as its First Mortgage
Bonds, issued and to be issued without limitation as to aggregate principal amount except as set forth in the Indenture hereinafter mentioned in one or more series and equally secured (except insofar as a sinking fund or other similar fund
established in accordance with the provisions of the Indenture may afford additional security for the bonds of any specific series) by an Indenture of Mortgage (herein called the “Indenture”) dated as of January 1, 1941, executed by
the Philadelphia Suburban Water Company (now Aqua Pennsylvania, Inc., f/k/a Pennsylvania Suburban Water Company, as successor by merger) to The Pennsylvania Company for Insurances on Lives and Granting Annuities (succeeded as trustee by The Bank of
New York Mellon Trust Company, N.A.), as Trustee (the “Trustee”), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the property mortgaged and pledged, the nature and extent of the
security, the rights of the holders and registered owners of the bonds and of the Trustee in respect of such security, and the terms and conditions under which the bonds are and are to be secured and may be issued under the Indenture; but neither
the foregoing reference to the Indenture nor any provision of this bond or of the Indenture or of any indenture supplemental thereto shall affect or impair the obligation of the Company, which is absolute and unconditional, to pay at the stated or
accelerated maturity herein and in the Indenture provided, the principal of and premium, if any, and interest on this bond as herein provided. As provided in the Indenture, the bonds may be issued in series for various principal amounts, may bear
different dates and mature at different times, may bear interest at different rates and may otherwise vary as in the Indenture provided or permitted. This bond is one of the bonds described in the Forty-eighth Supplemental Indenture (the
“Forty-eighth Supplemental Indenture”) dated as of October 1, 2013, and designated therein as “First Mortgage Bond, 4.61% Series due 2045” in the aggregate principal amount of $25,000,000 (the “Bonds”). 

Concurrently with the issuance of the Bonds, the Company is issuing its “First Mortgage Bond, 3.94% Series due 2031” in the
aggregate principal amount of $25,000,000 and its “First Mortgage Bond, 4.62% Series due 2046” in the aggregate principal amount of $25,000,000. 

To the extent permitted by and as provided in the Indenture, modifications or alterations of the Indenture, or of any indenture supplemental
thereto, and of the rights and obligations of the Company and of the holders and registered owners of bonds issued and to be issued thereunder may be made with the consent of the Company by an affirmative vote of the holders and registered owners of
not less than 75% in principal amount of bonds then outstanding under the Indenture and entitled to vote, at a meeting of the bondholders called and held as provided in the Indenture, and, in case one or more but less than all of the series of bonds
then outstanding under the Indenture are so affected, by an affirmative vote of the holders and registered owners of not less than 75% in principal amount of bonds of any series then outstanding under the Indenture and entitled to vote on and
affected by such modification or alteration, or by the written consent of the holders and registered owners of such percentages of bonds; provided, however, that no such modification or alteration shall be made which shall reduce the percentage of
bonds the consent of the holders or registered owners of which is required for any such modification or alteration or which shall affect the terms of payment of the principal of or interest on the bonds, or permit the creation by the Company of any
lien prior to or on a parity with the lien of the Indenture with respect to any property subject to the lien of the Indenture as a first mortgage lien thereon, or which shall affect the rights of the holders or registered owners of less than all of
the bonds of any series affected thereby. 
 The Company may, at its option, upon notice as provided below, redeem at any time all, or from
time to time any part of, the Bonds, in an amount not less than 10% of the aggregate principal amount of the Bonds then outstanding in the case of a partial redemption, at 100% of the principal amount so redeemed, together with interest accrued
thereon to the date of such redemption, plus the Make-Whole Amount (as defined in the Forty-eighth Supplemental Indenture) determined for the redemption date with respect to such principal amount of each bond then outstanding. 

  
 15 

 Any redemption shall be effected by notice mailed to the registered owners thereof, as provided
in the Indenture, at least thirty (30) days and not more than forty-five (45) days before the redemption date, all on the conditions and in the manner provided in the Indenture. Each such notice shall specify such date (which shall be a
Business Day (as defined in the Forty-eighth Supplemental Indenture)), the aggregate principal amount of the Bonds to be redeemed on such date, the principal amount of each bond held by such holder to be redeemed (determined in accordance with
Article I, Section 3 of the Forty-eighth Supplemental Indenture), and the interest to be paid on the redemption date with respect to such principal amount being redeemed, and shall be accompanied by a certificate of the chief financial officer,
principal accounting officer, treasurer or comptroller (each, for purposes of this bond, a “Senior Financial Officer”) of the Company as to the estimated Make-Whole Amount due in connection with such redemption (calculated as if the date
of such notice were the date of the redemption), setting forth the details of such computation. Two Business Days prior to such prepayment, the Company shall deliver to each holder of Bonds a certificate of a Senior Financial Officer specifying the
calculation of such Make-Whole Amount as of the specified redemption date. 
 If this bond or any portion hereof is called for redemption
and payment thereof is duly provided for as specified in the Indenture, interest shall cease to accrue hereon or on such portion, as the case may be, from and after the redemption date. In the event of redemption of this bond in part only, a new
bond for the unredeemed portion hereof shall be issued in the name of the holder hereof upon the surrender hereof. 
 The principal hereof
may be declared or may become due prior to its Maturity Date on the conditions, in the manner and with the effect set forth in the Indenture upon the happening of an event of default, as in the Indenture provided; subject, however, to the right,
under certain circumstances, of the registered owners of a majority in principal amount of bonds then outstanding, including the Bonds, to annul such declaration. 

The Company, the Trustee and any Paying Agent may deem and treat the registered owner of this bond as the absolute owner hereof for the
purpose of receiving payment of or on account of the principal hereof and the interest hereon, and for all other purposes, and shall not be affected by any notice to the contrary. 

This bond is transferable by the registered owner hereof in person or by attorney duly authorized in writing, on books of the Company to be
kept for that purpose at the designated office of the Trustee in Philadelphia, Pennsylvania upon surrender hereof for cancellation at such office and upon presentation of a written instrument of transfer duly executed, and thereupon the Company
shall issue in the name of the transferee or transferees, and the Trustee shall authenticate and deliver, a new bond or bonds in authorized denominations, of equal aggregate unpaid principal amount. Any such transfer or exchange shall be subject to
the terms and conditions and to the payment of the charges specified in the Indenture. 

  
 16 

 No recourse shall be had for the payment of the principal of or interest on this bond or for any
claim based hereon or otherwise in respect hereof or of the Indenture or of any indenture supplemental thereto against any incorporator or any past, present or future stockholder, officer or director of the Company or of any predecessor or successor
corporation, as such, either directly or through the Company, or through any such predecessor or successor corporation or through any receiver or trustee in bankruptcy, by virtue of any constitutional provision, statute or rule of law or equity, or
by the enforcement of any assessment or penalty or otherwise; all such liability being, by the acceptance hereof and as part of the consideration for the issue hereof, expressly waived and released by every holder or registered owner hereof, as more
fully provided in the Indenture. 
 This bond shall not be entitled to any benefit under the Indenture or any indenture supplemental
thereto, or become valid or obligatory for any purpose, until The Bank of New York Mellon Trust Company, N. A., as Trustee under the Indenture, or a successor trustee thereunder, shall have signed the certificate of authentication endorsed hereon.

 This bond shall be deemed to be a contract and shall be construed in accordance with and governed by the laws of the Commonwealth of
Pennsylvania (excluding laws governing conflicts of law). 
 IN WITNESS WHEREOF, Aqua Pennsylvania, Inc. has caused this bond to be signed
by its President or a Vice President and its corporate seal to be hereto affixed and attested by its Secretary or an Assistant Secretary, and this bond to be
dated                    . 
  

							
		 		 	AQUA PENNSYLVANIA, INC.
				
	Attest:	 		 		 	
				
	 	 		 	By	 	 
	Assistant Secretary	 		 	(Vice) President

 [Form of Trustee’s Certificate] 

This bond is one of the Bonds, of the series designated therein, referred to in the within-mentioned Forty-eighth Supplemental Indenture. 

 

					
	THE BANK OF NEW YORK
	 MELLON TRUST COMPANY,

	 N. A., TRUSTEE

		
	 By:
	 	 
		 	 Authorized Officer
	 	

  
 17 

 [Form of Certificate of Transfer] 

(To be delivered with a Certificated Bond to the Trustee) 

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto 

(please print or typewrite name and address including postal zip code of assignee and insert Taxpayer Identification No.) 

this bond and all rights hereunder, hereby irrevocably constituting and appointment attorney to transfer this bond the books of the Company with full power of
substitution in the premises. 
 CERTIFICATE OF TRANSFER 

(The following is not required for sales or other transfers of this bond to or through the Company or a placement agent). 

In connection with any transfer of this bond occurring prior to the date which is two years after the later of (a) the date of original
issue of this bond, or (b) the last date the Company or any of its affiliates was the beneficial owner of this bond, the undersigned confirms that: 
  

	 ̈	This bond is being transferred by the undersigned to a transferee that is, or that the undersigned reasonably believes to be, a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act
of 1933, as amended) pursuant to the exemption from registration under the Securities Act of 1933, as amended, provided by Rule 144A thereunder. 

If the foregoing box is not checked, then, so long as the accompanying bond shall bear a legend on its face restricting resales and other
transfers thereof (except in the case of a resale or other transfer made (i) to a placement agent referred to in such legend or to the Company or (ii) through a placement agent or by a placement agent acting as principal to a
“qualified institutional buyer” as defined in Rule 144A under the Securities Act of 1933, as amended, in a transaction approved by a placement agent) the Trustee shall not be obligated to register this bond in the name of any person other
than the registered owner hereof. 
 Dated: 

NOTICE: The signature of the beneficial owner to this assignment must correspond with the name as written on the face of this bond in every
particular, without alteration or enlargement or any change whatsoever. 
 TO BE COMPLETED BY PURCHASER IF THE BOX ABOVE IS CHECKED: 

The undersigned represents and warrants that it is a “qualified institutional buyer” as defined in Rule 144A under the Securities
Act of 1933, as amended, and acknowledges that it has received such information regarding the Company as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the registered
owner is relying upon the undersigned’s foregoing representations in order to claim the exemption from registration provided by Rule 144A. 
 Dated:

 NOTICE: To be executed by an officer. 

  
 18 

 THIS BOND HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND SALES
OR OTHER TRANSFERS HEREOF MAY BE MADE ONLY TO QUALIFIED INSTITUTIONAL BUYERS AS DEFINED IN RULE 144A UNDER THE ACT (“QUALIFIED INSTITUTIONAL BUYERS”), IN TRANSACTIONS EXEMPT FROM, OR NOT SUBJECT TO, REGISTRATION UNDER THE ACT. 

BY ITS ACCEPTANCE OF THIS BOND, THE HOLDER REPRESENTS AND AGREES THAT IT IS A QUALIFIED INSTITUTIONAL BUYER AND THAT THIS BOND IS BEING ACQUIRED FOR ITS OWN
ACCOUNT (AND NOT FOR THE ACCOUNT OF OTHERS) OR AS A FIDUCIARY FOR OTHERS FOR INVESTMENT AND NOT WITH A VIEW TO, OR FOR SALE IN CONNECTION WITH, THE PUBLIC DISTRIBUTION HEREOF IN ANY TRANSACTION THAT WOULD BE IN VIOLATION OF FEDERAL OR STATE
SECURITIES LAWS, AND THAT ANY RESALE OR OTHER TRANSFER HEREOF OR ANY INTEREST HEREIN PRIOR TO THE DATE THAT IS TWO YEARS AFTER THE LATER OF (A) ITS DATE OF ISSUE OR (B) THE LAST DATE ON WHICH THE COMPANY OR ANY OF ITS AFFILIATES WAS THE
BENEFICIAL OWNER HEREOF WILL BE MADE ONLY (1) TO A PLACEMENT AGENT OR THE COMPANY, (2) THROUGH ANY PLACEMENT AGENT OR BY ANY PLACEMENT AGENT ACTING AS PRINCIPAL TO A QUALIFIED INSTITUTIONAL BUYER, IN EACH CASE APPROVED BY SUCH PLACEMENT
AGENT, (3) DIRECTLY TO A QUALIFIED INSTITUTIONAL BUYER APPROVED BY THE COMPANY IN A TRANSACTION APPROVED BY THE COMPANY, (4) THROUGH A DEALER OTHER THAN A PLACEMENT AGENT TO A QUALIFIED INSTITUTIONAL BUYER, IN EACH CASE IN A TRANSACTION
APPROVED BY THE COMPANY, OR (5) DIRECTLY TO A QUALIFIED INSTITUTIONAL BUYER IN A TRANSACTION THAT MEETS THE REQUIREMENTS OF RULE 144A UNDER THE ACT, SUBJECT TO IN EACH CASE THE DISPOSITION OF THE PURCHASER’S PROPERTY BEING AT ALL TIMES
WITHIN ITS CONTROL. IN THE CASE OF CERTIFICATED BONDS, ANY TRANSFER DESCRIBED IN CLAUSE (3), (4) OR (5) ABOVE REQUIRES THE SUBMISSION TO THE TRUSTEE (AS DEFINED HEREIN) OR ANY DULY AUTHORIZED PAYING AGENT OF THE CERTIFICATE OF TRANSFER
ATTACHED HERETO DULY COMPLETED OR A DULY COMPLETED TRANSFER INSTRUMENT SUBSTANTIALLY IN THE FORM OF THE CERTIFICATE OF TRANSFER. THE COMPANY SHALL NOT RECOGNIZE ANY RESALE OR OTHER TRANSFER, OR ATTEMPTED RESALE OR OTHER TRANSFER, OF THIS BOND NOT
MADE IN COMPLIANCE WITH THE FOREGOING PROVISIONS. THIS BOND AND RELATED DOCUMENTATION MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME TO MODIFY THE RESTRICTIONS ON THE PROCEDURES FOR RESALES AND OTHER TRANSFERS OF THIS BOND TO REFLECT ANY CHANGE IN
APPLICABLE LAW OR REGULATION (OR THE INTERPRETATION THEREOF) OR PROVIDE ALTERNATIVE PROCEDURES IN COMPLIANCE WITH APPLICABLE LAW AND PRACTICES RELATING TO THE RESALE OR OTHER TRANSFER OF RESTRICTED SECURITIES GENERALLY. THE HOLDER OF THIS BOND SHALL
BE DEEMED, BY THE ACCEPTANCE OF THIS BOND, TO HAVE AGREED TO ANY SUCH AMENDMENT OR SUPPLEMENT. 

  
 19 

			
	No. R-	  	[PPN]
	$	  	

 AQUA PENNSYLVANIA, INC. 

(Incorporated under the Laws of the Commonwealth 

of Pennsylvania) 
 First Mortgage
Bond, 4.62% Series due 2046 
 Aqua Pennsylvania, Inc. (f/k/a known as Pennsylvania Suburban Water Company, successor by merger to
Philadelphia Suburban Water Company), a corporation organized and existing under the laws of the Commonwealth of Pennsylvania (hereinafter called the “Company”, which term shall include any successor corporation as defined in the Indenture
hereinafter referred to), for value received, hereby promises to pay to                     or its registered assigns, on the 1st day of November,
2046 (the “Maturity Date”), at the address designated by the registered owner pursuant to Section 11.1 of the Bond Purchase Agreement dated as of October 24, 2013, between the Company and the Purchasers listed therein (the
“Bond Purchase Agreement”), the sum of          Million Dollars in such coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and
private debts and to pay interest thereon to the registered owner hereof by wire transfer of immediately available funds in accordance with Section 11.1 of the Bond Purchase Agreement to such registered owner from the interest payment date next
preceding the date of the authentication of this bond (or if this bond is authenticated after a Record Date as defined below and on or before the succeeding interest payment date, from such succeeding interest payment date, or if this bond is
authenticated on or prior to May 1, 2014 the date hereof) until the principal hereof shall become due and payable, at the rate of 4.62% per annum, payable semiannually in like coin or currency on the 1st day of May and the 1st day of November in each year, commencing May 1, 2014 and to pay interest on overdue principal (including any overdue
required or optional prepayment of principal) and premium, if any, and, to the extent legally enforceable, on any overdue installment of interest at a rate of 6.62% per annum after maturity whether by acceleration or otherwise until paid. 

The interest so payable will (except as otherwise provided in the Forty-eighth Supplemental Indenture referred to herein) be calculated on the
basis of a 360-day year of twelve 30-day months and be paid to the person in whose name this bond (or a bond or bonds in exchange for which this bond was issued) is registered at the close of business on the
15th day of the calendar month preceding the month in which the interest payment date occurs whether or not such day is a business day (a “Record Date”) and principal, premium, if any,
and interest on this bond shall be paid by the Company in accordance with written payment instructions of the registered owner delivered to the Company on or before such record date. 

  
 20 

 This bond is one of a duly authorized issue of bonds of the Company known as its First Mortgage
Bonds, issued and to be issued without limitation as to aggregate principal amount except as set forth in the Indenture hereinafter mentioned in one or more series and equally secured (except insofar as a sinking fund or other similar fund
established in accordance with the provisions of the Indenture may afford additional security for the bonds of any specific series) by an Indenture of Mortgage (herein called the “Indenture”) dated as of January 1, 1941, executed by
the Philadelphia Suburban Water Company (now Aqua Pennsylvania, Inc., f/k/a Pennsylvania Suburban Water Company, as successor by merger) to The Pennsylvania Company for Insurances on Lives and Granting Annuities (succeeded as trustee by The Bank of
New York Mellon Trust Company, N.A.), as Trustee (the “Trustee”), to which Indenture and all indentures supplemental thereto reference is hereby made for a description of the property mortgaged and pledged, the nature and extent of the
security, the rights of the holders and registered owners of the bonds and of the Trustee in respect of such security, and the terms and conditions under which the bonds are and are to be secured and may be issued under the Indenture; but neither
the foregoing reference to the Indenture nor any provision of this bond or of the Indenture or of any indenture supplemental thereto shall affect or impair the obligation of the Company, which is absolute and unconditional, to pay at the stated or
accelerated maturity herein and in the Indenture provided, the principal of and premium, if any, and interest on this bond as herein provided. As provided in the Indenture, the bonds may be issued in series for various principal amounts, may bear
different dates and mature at different times, may bear interest at different rates and may otherwise vary as in the Indenture provided or permitted. This bond is one of the bonds described in the Forty-eighth Supplemental Indenture (the
“Forty-eighth Supplemental Indenture”) dated as of October 1, 2013, and designated therein as “First Mortgage Bond, 4.62% Series due 2046” in the aggregate principal amount of $25,000,000 (the “Bonds”). 

Concurrently with the issuance of the Bonds, the Company is issuing its “First Mortgage Bond, 3.94% Series due 2031” in the
aggregate principal amount of $25,000,000 and its “First Mortgage Bond, 4.61% Series due 2045” in the aggregate principal amount of $25,000,000. 

To the extent permitted by and as provided in the Indenture, modifications or alterations of the Indenture, or of any indenture supplemental
thereto, and of the rights and obligations of the Company and of the holders and registered owners of bonds issued and to be issued thereunder may be made with the consent of the Company by an affirmative vote of the holders and registered owners of
not less than 75% in principal amount of bonds then outstanding under the Indenture and entitled to vote, at a meeting of the bondholders called and held as provided in the Indenture, and, in case one or more but less than all of the series of bonds
then outstanding under the Indenture are so affected, by an affirmative vote of the holders and registered owners of not less than 75% in principal amount of bonds of any series then outstanding under the Indenture and entitled to vote on and
affected by such modification or alteration, or by the written consent of the holders and registered owners of such percentages of bonds; provided, however, that no such modification or alteration shall be made which shall reduce the percentage of
bonds the consent of the holders or registered owners of which is required for any such modification or alteration or which shall affect the terms of payment of the principal of or interest on the bonds, or permit the creation by the Company of any
lien prior to or on a parity with the lien of the Indenture with respect to any property subject to the lien of the Indenture as a first mortgage lien thereon, or which shall affect the rights of the holders or registered owners of less than all of
the bonds of any series affected thereby. 
 The Company may, at its option, upon notice as provided below, redeem at any time all, or from
time to time any part of, the Bonds, in an amount not less than 10% of the aggregate principal amount of the Bonds then outstanding in the case of a partial redemption, at 100% of the principal amount so redeemed, together with interest accrued
thereon to the date of such redemption, plus the Make-Whole Amount (as defined in the Forty-eighth Supplemental Indenture) determined for the redemption date with respect to such principal amount of each bond then outstanding. 

  
 21 

 Any redemption shall be effected by notice mailed to the registered owners thereof, as provided
in the Indenture, at least thirty (30) days and not more than forty-five (45) days before the redemption date, all on the conditions and in the manner provided in the Indenture. Each such notice shall specify such date (which shall be a
Business Day (as defined in the Forty-eighth Supplemental Indenture)), the aggregate principal amount of the Bonds to be redeemed on such date, the principal amount of each bond held by such holder to be redeemed (determined in accordance with
Article I, Section 3 of the Forty-eighth Supplemental Indenture), and the interest to be paid on the redemption date with respect to such principal amount being redeemed, and shall be accompanied by a certificate of the chief financial officer,
principal accounting officer, treasurer or comptroller (each, for purposes of this bond, a “Senior Financial Officer”) of the Company as to the estimated Make-Whole Amount due in connection with such redemption (calculated as if the date
of such notice were the date of the redemption), setting forth the details of such computation. Two Business Days prior to such prepayment, the Company shall deliver to each holder of Bonds a certificate of a Senior Financial Officer specifying the
calculation of such Make-Whole Amount as of the specified redemption date. 
 If this bond or any portion hereof is called for redemption
and payment thereof is duly provided for as specified in the Indenture, interest shall cease to accrue hereon or on such portion, as the case may be, from and after the redemption date. In the event of redemption of this bond in part only, a new
bond for the unredeemed portion hereof shall be issued in the name of the holder hereof upon the surrender hereof. 
 The principal hereof
may be declared or may become due prior to its Maturity Date on the conditions, in the manner and with the effect set forth in the Indenture upon the happening of an event of default, as in the Indenture provided; subject, however, to the right,
under certain circumstances, of the registered owners of a majority in principal amount of bonds then outstanding, including the Bonds, to annul such declaration. 

The Company, the Trustee and any Paying Agent may deem and treat the registered owner of this bond as the absolute owner hereof for the
purpose of receiving payment of or on account of the principal hereof and the interest hereon, and for all other purposes, and shall not be affected by any notice to the contrary. 

This bond is transferable by the registered owner hereof in person or by attorney duly authorized in writing, on books of the Company to be
kept for that purpose at the designated office of the Trustee in Philadelphia, Pennsylvania upon surrender hereof for cancellation at such office and upon presentation of a written instrument of transfer duly executed, and thereupon the Company
shall issue in the name of the transferee or transferees, and the Trustee shall authenticate and deliver, a new bond or bonds in authorized denominations, of equal aggregate unpaid principal amount. Any such transfer or exchange shall be subject to
the terms and conditions and to the payment of the charges specified in the Indenture. 

  
 22 

 No recourse shall be had for the payment of the principal of or interest on this bond or for any
claim based hereon or otherwise in respect hereof or of the Indenture or of any indenture supplemental thereto against any incorporator or any past, present or future stockholder, officer or director of the Company or of any predecessor or successor
corporation, as such, either directly or 7through the Company, or through any such predecessor or successor corporation or through any receiver or trustee in bankruptcy, by virtue of any constitutional provision, statute or rule of law or equity, or
by the enforcement of any assessment or penalty or otherwise; all such liability being, by the acceptance hereof and as part of the consideration for the issue hereof, expressly waived and released by every holder or registered owner hereof, as more
fully provided in the Indenture. 
 This bond shall not be entitled to any benefit under the Indenture or any indenture supplemental
thereto, or become valid or obligatory for any purpose, until The Bank of New York Mellon Trust Company, N. A., as Trustee under the Indenture, or a successor trustee thereunder, shall have signed the certificate of authentication endorsed hereon.

 This bond shall be deemed to be a contract and shall be construed in accordance with and governed by the laws of the Commonwealth of
Pennsylvania (excluding laws governing conflicts of law). 
 IN WITNESS WHEREOF, Aqua Pennsylvania, Inc. has caused this bond to be signed
by its President or a Vice President and its corporate seal to be hereto affixed and attested by its Secretary or an Assistant Secretary, and this bond to be dated
                    . 
  

									
		 		 	AQUA PENNSYLVANIA, INC.
			
	Attest:	 		 	
					
		 	 	 		 	By	 	 
		 	Assistant Secretary	 		 	(Vice) President

 [Form of Trustee’s Certificate] 

This bond is one of the Bonds, of the series designated therein, referred to in the within-mentioned Forty-eighth Supplemental Indenture. 

 

			
	 THE BANK OF NEW YORK
 MELLON TRUST
COMPANY,
 N. A., TRUSTEE

		
	By:	 	  

		 	        Authorized Officer

  
 23 

 [Form of Certificate of Transfer] 

(To be delivered with a Certificated Bond to the Trustee) 

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto 

(please print or typewrite name and address including postal zip code of assignee and insert Taxpayer Identification No.) 

this bond and all rights hereunder, hereby irrevocably constituting and appointment attorney to transfer this bond the books of the Company with full power of
substitution in the premises. 
 CERTIFICATE OF TRANSFER 

(The following is not required for sales or other transfers of this bond to or through the Company or a placement agent). 

In connection with any transfer of this bond occurring prior to the date which is two years after the later of (a) the date of original
issue of this bond, or (b) the last date the Company or any of its affiliates was the beneficial owner of this bond, the undersigned confirms that: 
  

	 ̈	This bond is being transferred by the undersigned to a transferee that is, or that the undersigned reasonably believes to be, a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act
of 1933, as amended) pursuant to the exemption from registration under the Securities Act of 1933, as amended, provided by Rule 144A thereunder. 

If the foregoing box is not checked, then, so long as the accompanying bond shall bear a legend on its face restricting resales and other
transfers thereof (except in the case of a resale or other transfer made (i) to a placement agent referred to in such legend or to the Company or (ii) through a placement agent or by a placement agent acting as principal to a
“qualified institutional buyer” as defined in Rule 144A under the Securities Act of 1933, as amended, in a transaction approved by a placement agent) the Trustee shall not be obligated to register this bond in the name of any person other
than the registered owner hereof. 
 Dated: 

NOTICE: The signature of the beneficial owner to this assignment must correspond with the name as written on the face of this bond in every
particular, without alteration or enlargement or any change whatsoever. 
 TO BE COMPLETED BY PURCHASER IF THE BOX ABOVE IS CHECKED: 

The undersigned represents and warrants that it is a “qualified institutional buyer” as defined in Rule 144A under the Securities Act
of 1933, as amended, and acknowledges that it has received such information regarding the Company as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the registered owner
is relying upon the undersigned’s foregoing representations in order to claim the exemption from registration provided by Rule 144A. 
 Dated: 

NOTICE: To be executed by an officer. 

  
 24 

 and; 

WHEREAS, all acts and things necessary to make the bonds, when executed by the Company and authenticated and delivered by the Trustee as in
this Forty-eighth Supplemental Indenture provided and issued by the Company, valid, binding and legal obligations of the Company, and this Forty-eighth Supplemental Indenture a valid and enforceable supplement to said Original Indenture, have been
done, performed and fulfilled, and the execution of this Forty-eighth Supplemental Indenture has been in all respects duly authorized: 

NOW, THEREFORE, THIS FORTY-EIGHTH SUPPLEMENTAL INDENTURE WITNESSETH: That, in order to secure the payment of the principal and interest of all
bonds issued under the Original Indenture and all indentures supplemental thereto, according to their tenor and effect, and according to the terms of the Original Indenture and of any indenture supplemental thereto, and to secure the performance of
the covenants and obligations in said bonds and in the Original Indenture and any indenture supplemental thereto respectively contained, and to provide for the proper issuing, conveying and confirming unto the Trustee, its successors in said trust
and its and their assigns forever, upon the trusts and for the purposes expressed in the Original Indenture and in any indenture supplemental thereto, all and singular the estates, property and franchises of the Company thereby mortgaged or intended
so to be, the Company, for and in consideration of the premises and of the sum of One Dollar ($1.00) in hand paid by the Trustee to the Company upon the execution and delivery of this Forty-eighth Supplemental Indenture, receipt whereof is hereby
acknowledged, and of other good and valuable consideration, has granted, bargained, sold, aliened, enfeoffed, released and confirmed and by these presents does grant, bargain, sell, alien, enfeoff, release and confirm unto The Bank of New York
Mellon Trust Company, N. A. as Trustee, and to its successors in said trust and its and their assigns forever: 
 All and singular the
premises, property, assets, rights and franchises of the Company, whether now or hereafter owned, constructed or acquired, of whatever character and wherever situated (except as herein expressly excepted), including among other things the following,
but reference to or enumeration of any particular kinds, classes, or items of property shall not be deemed to exclude from the operation and effect of the Original Indenture or any indenture supplemental thereto any kind, class or item not so
referred to or enumerated: 

  
 25 

 I. 

REAL ESTATE AND WATER RIGHTS. 

The real estate described in the deeds from the grantors named in Exhibit C hereto, dated and recorded as therein set forth, and any
other real estate and water rights acquired since the date of the Forty-seventh Supplemental Indenture. 
 II. 

BUILDINGS AND EQUIPMENT. 
 All
mains, pipes, pipe lines, service pipes, buildings, improvements, standpipes, reservoirs, wells, flumes, sluices, canals, basins, cribs, machinery, conduits, hydrants, water works, plants and systems, tanks, shops, structures, purification systems,
pumping stations, fixtures, engines, boilers, pumps, meters and equipment which are now owned or may hereafter be acquired by the Company (except as herein expressly excepted), including all improvements, additions and extensions appurtenant to any
real or fixed property now or hereafter subject to the lien of the Original Indenture or any indenture supplemental thereto which are used or useful in connection with the business of the Company as a water company or as a water utility, whether any
of the foregoing property is now owned or may hereafter be acquired by the Company. 
 It is hereby declared by the Company that all
property of the kinds described in the next preceding paragraph, whether now owned or hereafter acquired, has been or is or will be owned or acquired with the intention of using the same in carrying on the business or branches of the business of the
Company, and it is hereby declared that it is the intention of the Company that all thereof (except property hereinafter specifically excepted) shall be subject to the lien of the Original Indenture. 

It is agreed by the Company that so far as may be permitted by law tangible personal property now owned or hereafter acquired by the Company,
except such as is hereafter expressly excepted from the lien hereof, shall be deemed to be and construed as fixtures and appurtenances to the real property of the Company. 

III. 
 FRANCHISES AND RIGHTS OF
WAY. 
 All the corporate and other franchises of the Company, all water and flowage rights, riparian rights, easements and rights of way,
and all permits, licenses, rights, grants, privileges and immunities, and all renewals, extensions, additions or modifications of any of the foregoing, whether the same or any thereof, or any renewals, extensions, additions or modifications thereof,
are now owned or may hereafter be acquired, owned, held, or enjoyed by the Company. 

  
 26 

 IV. 

AFTER ACQUIRED PROPERTY. 
 All
real and fixed property and all other property of the character hereinabove described which the Company may hereafter acquire. 
 TOGETHER
WITH all and singular the tenements, hereditaments and appurtenances belonging or in any way appertaining to the aforesaid property or any part thereof, with the reversion and reversions, remainder and remainders, tolls, rents, revenues, issues,
income, product and profits thereof, and all the estate, right, title, interest and claim whatsoever, at law as well as in equity, which the Company now has or may hereafter acquire in and to the aforesaid premises, property, rights and franchises
and every part and parcel thereof. 
 EXCEPTING AND RESERVING, HOWEVER, certain premises, not used or useful in the supplying of water by
the Company, expressly excepted and reserved from the lien of the Original Indenture and not subject to the terms thereof. 
 AND ALSO
SAVING AND EXCEPTING from the property hereby mortgaged and pledged, all of the following property (whether now owned by the Company or hereafter acquired by it): all bills, notes and accounts receivable, cash on hand and in banks, contracts, choses
in action and leases to others (as distinct from the property leased and without limiting any rights of the Trustee with respect thereto under any of the provisions of the Original Indenture or of any indenture supplemental thereto), all bonds,
obligations, evidences of indebtedness, shares of stock and other securities, and certificates or evidences of interest therein, all automobiles, motor trucks, and other like automobile equipment and all furniture, and all equipment, materials,
goods, merchandise and supplies acquired for the purpose of sale in the ordinary course of business or for consumption in the operation of any properties of the Company other than any of the foregoing expected property which may be specifically
transferred or assigned to or pledged or deposited with the Trustee hereunder or required by the provisions of the Original Indenture or any indenture supplemental thereto so to be; provided, however, that if, upon the happening of a completed
default, as specified in Section I of Article XI of the Original Indenture, the Trustee or any receiver appointed hereunder shall enter upon and take possession of the mortgaged property, the Trustee or any such receiver may, to the extent permitted
by law, at the same time likewise take possession of any and all of the property described in this paragraph then on hand and any and all other property of the Company then on hand, not described or referred to in the foregoing granting clauses,
which is used or useful in connection with the business of the Company as a water company or as a water utility, and use and administer the same to the same extent as if such property were part of the mortgaged property, unless and until such
completed default shall be remedied or waived and possession of the mortgaged property restored to the Company, its successors or assigns. 

SUBJECT, HOWEVER, to the exceptions, reservations and matters hereinabove and in the Original Indenture recited, to releases executed since
the date of the Original Indenture in accordance with the provisions thereof, to existing leases, to easements and rights of way for pole lines and electric transmission lines and other similar encumbrances and restrictions which the Company hereby
certifies, in its judgment, do not impair the use of said property by the Company in its business, to liens existing on or claims against, and rights in and relating to, real estate acquired for right-of-way purposes, to taxes and assessments not
delinquent, to alleys, streets and highways that may run across or encroach upon said lands, to liens, if any, incidental to construction, and to Permitted Liens, as defined in the Original Indenture; and, with respect to any property which the
Company may hereafter acquire, to all terms, conditions, agreements, covenants, exceptions and reservations expressed or provided in such deeds and other instruments, respectively, under and by virtue of which the Company shall hereafter acquire the
same and to any and all liens existing thereon at the time of such acquisition. 

  
 27 

 TO HAVE AND TO HOLD, all and singular the property, rights, privileges and franchises hereby
conveyed, transferred or pledged or intended so to be unto the Trustee and its successors in the trust heretofore and hereby created, and its and their assigns forever. 

IN TRUST NEVERTHELESS, for the equal pro rata benefit and security of each and every entity who may be or become the holders of bonds and
coupons secured by the Original Indenture or by any indenture supplemental thereto, or both, without preference, priority or distinction as to lien or otherwise of any bond or coupon over or from any other bond or coupon, so that each and every of
said bonds and coupons issued or to be issued, of whatsoever series, shall have the same right, lien and privilege under the Original Indenture and all indentures supplemental thereto and shall be equally secured hereby and thereby, with the same
effect as if said bonds and coupons had all been made, issued and negotiated simultaneously on the date thereof; subject, however, to the provisions with reference to extended, transferred or pledged coupons and claims for interest contained in the
Original Indenture and subject to any sinking or improvement fund or maintenance deposit provisions, or both, for the benefit of any particular series of bonds. 

IT IS HEREBY COVENANTED, DECLARED AND AGREED, by and between the parties hereto, that all such bonds and coupons are to be authenticated,
delivered and issued, and that all property subject or to become subject hereto is to be held subject to the further covenants, conditions, uses and trusts hereinafter set forth, and the Company, for itself and its successors and assigns, does
hereby covenant and agree to and with the Trustee and its successor or successors in said trust, for the benefit of those who shall hold said bonds and coupons, or any of them, issued under this Indenture or any indenture supplemental hereto, or
both, as follows: 
 ARTICLE I. 

Form, Authentication and Delivery of the Bonds; Redemption Provisions 

SECTION 1. There shall be a sixty-fifth series limited in aggregate principal amount to $25,000,000 designated as “Aqua Pennsylvania,
Inc., First Mortgage Bond, 3.94% Series due 2031”, a sixty-sixth series of bonds limited in aggregate principal amount to $25,000,000 designated as “Aqua Pennsylvania, Inc., First Mortgage Bond, 4.61% Series due 2045” and a
sixty-seventh series of bonds limited in aggregate principal amount to $25,000,000 designated as “Aqua Pennsylvania, Inc., First Mortgage Bond, 4.62% Series due 2046”. 

  
 28 

 Interest on each Series of the Bonds shall be payable semiannually on May 1 and
November 1 (each an “Interest Payment Date”) in each year commencing May 1, 2014. Each Bond shall be dated the date of its authentication and shall bear interest from the interest payment date next preceding the date of the
authentication of such Bond (or if such Bond is authenticated after a Record Date as defined below and on or before the succeeding interest payment date, from such succeeding interest payment date, or if such Bond is authenticated on or prior to the
record date for the first interest payment date for the Bonds, in which case it shall bear interest from the date of original issuance of the Bonds); provided, however, that, if at the time of authentication of any Bond, interest on the predecessor
Bond of such Bond is in default, such Bond shall bear interest from the date to which interest has been paid, or, if no interest has been paid, from the date of original issuance thereof. The 3.94% Series due 2031 shall be stated to mature (subject
to the right of earlier redemption at the prices and dates and upon the terms and conditions hereinafter set forth) on November 1, 2031and shall bear interest at the rate of 3.94% per annum. The 4.61% Series due 2045 shall be stated to
mature (subject to the right of earlier redemption at the prices and dates and upon the terms and conditions hereinafter set forth) on November 1, 2045 and shall bear interest at the rate of 4.61% per annum. The 4.62% Series due 2046 shall
be stated to mature (subject to the right of earlier redemption at the prices and dates and upon the terms and conditions hereinafter set forth) on November 1, 2046 and shall bear interest at the rate of 4.62% per annum. Any payment of
principal of or interest on any Bond that is due on a date other than a Business Day (as defined below) shall be made on the next succeeding Business Day without including the additional days elapsed in the computation of the interest payable on
such next succeeding Business Day; provided that if the maturity date of any Bond is a date other than a Business Day, the payment otherwise due on such maturity date shall be made on the next succeeding Business Day and shall include the additional
days elapsed in the computation of interest payable on such next succeeding Business Day. As used herein, “Business Day” means any day other than a Saturday or Sunday, on which the Trustee, any paying agent or banks in New York, New York
are not required or authorized by law or executive order to close. 
 The Bonds shall be issuable only as registered bonds without coupons,
shall be in the form hereinabove recited, in the minimum denomination of $100,000 or any integral multiple of $1,000 in excess thereof, shall be lettered “R”, and shall bear such numbers as the Company may reasonably require. 

The principal of, and interest on the Bonds shall be payable as provided in the form of Bond, and shall be payable, along with interest on the
Bonds, in such coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and private debts; each installment of interest shall be paid by bank wire transfer of immediately available funds
pursuant to instructions and conditions incorporated in an agreement between such person and the Trustee or the Company. 
 The person in
whose name any Bond is registered at the close of business on any Record Date with respect to any Interest Payment Date shall be entitled to receive the interest payable on such Interest Payment Date notwithstanding the cancellation of such Bond
upon any transfer or exchange subsequent to the Record Date and prior to such Interest Payment Date; provided, however, that if and to the extent the Company shall default in the payment of the interest due on such Interest Payment Date, such
defaulted interest shall be paid to the persons in whose names outstanding Bonds are registered at the close of business on a subsequent Record Date established by notice given by mail by or on behalf of the Company to the holders of Bonds not less
than fifteen (15) days preceding such subsequent Record Date, such Record Date to be not less than ten (10) days preceding the date of payment of such defaulted interest. The term “Record Date” as used in this Section 1 with
respect to any regular Interest Payment Date shall mean the fifteenth (15th) day of the calendar month preceding such Interest Payment Date. 

Exchange of any Bonds shall be effected in accordance with the applicable provisions of Sections 7, 8 and 9 of Article II of the Original
Indenture. 

  
 29 

 The text of the Bonds and of the certificate of the Trustee upon such Bonds shall be,
respectively, substantially of the tenor and effect hereinbefore recited. 
 SECTION 2. The Company may redeem the Bonds prior to maturity
only as provided in this Section and upon payment of the redemption price specified in this Section. The Company may, at its option, upon notice as provided below, redeem at any time all, or from time to time any part of, the Bonds, in an amount not
less than 10% of the aggregate principal amount of the Bonds then outstanding in the case of a partial redemption, at 100% of the principal amount so redeemed, together with interest accrued thereon to the date of such redemption, plus the
Make-Whole Amount (as defined below) determined for the redemption date with respect to such principal amount of each Bond then outstanding. The Company will give each holder of Bonds and the Trustee written notice of each optional redemption under
this Section 2 not less than 30 days and not more than 45 days prior to the date fixed for such prepayment. Each such notice shall specify such date (which shall be a Business Day), the aggregate principal amount of the Bonds to be redeemed on
such date, the principal amount of each Bond held by such holder to be redeemed (determined in accordance with Section 3 below), and the interest to be paid on the redemption date with respect to such principal amount being redeemed, and shall
be accompanied by a certificate of the chief financial officer, principal accounting officer, treasurer or comptroller (each, for purposes of this Article I, a “Senior Financial Officer”) of the Company as to the estimated Make-Whole
Amount due in connection with such redemption (calculated as if the date of such notice were the date of the redemption), setting forth the details of such computation. Two Business Days prior to such prepayment, the Company shall deliver to each
holder of Bonds and the Trustee a certificate of a Senior Financial Officer specifying the calculation of such Make-Whole Amount as of the specified redemption date. 

The term “Make-Whole Amount” means, with respect to any Bond, an amount equal to the excess, if any, of the Discounted Value of the
Remaining Scheduled Payments with respect to the Called Principal of such Bond over the amount of such Called Principal, provided that the Make-Whole Amount may in no event be less than zero. For the purposes of determining the Make-Whole Amount,
the following terms have the following meanings: 
 “Called Principal” means, with respect to any Bond, the principal of such Bond
that is to be prepaid pursuant to this Section 2. 
 “Discounted Value” means, with respect to the Called Principal of any
Bond, the amount obtained by discounting all Remaining Scheduled Payments with respect to such Called Principal from their respective scheduled due dates to the Settlement Date with respect to such Called Principal, in accordance with accepted
financial practice and at a discount factor (applied on the same periodic basis as that on which interest on the Bonds is payable) equal to the Reinvestment Yield with respect to such Called Principal. 

“Reinvestment Yield” means, with respect to the Called Principal of any Bond, 0.50% over the yield to maturity implied by
(i) the yields reported, as of 10:00 A.M. (New York City time) on the second Business Day preceding the Settlement Date with respect to such Called Principal, on the display designated as “Page PX1” (or such other display as may
replace Page PX1) on Bloomberg Financial Markets for the most recently issued actively traded on-the-run U.S. Treasury securities (“Reported”) having a maturity equal to the Remaining Average Life of such Called Principal as of such
Settlement Date. If there are no such U.S. Treasury securities Reported having a maturity equal to such Remaining Average Life, then such implied yield to maturity will be determined by (a) converting U.S. Treasury bill quotations to bond
equivalent yields in accordance with accepted financial practice and (b) interpolating linearly between the yields Reported for the applicable most recently issued actively traded on-the-run U. S. Treasury securities with the maturities
(1) closest to and greater than such Remaining Average Life and (2) closest to and less than such Remaining Average Life. The Reinvestment Yield shall be rounded to the number of decimal places as appears in the interest rate of the
applicable Bond. 

  
 30 

 If such yields are not Reported or the yields Reported as of such time are not ascertainable
(including by way of interpolation), then “Reinvestment Yield” means, with respect to the Called Principal of any Bond, 0.50% over the yield to maturity implied by the U.S. Treasury constant maturity yields reported, for the latest day for
which such yields have been so reported as of the second Business Day preceding the Settlement Date with respect to such Called Principal, in Federal Reserve Statistical Release H.15 (or any comparable successor publication) for the U.S. Treasury
constant maturity having a term equal to the Remaining Average Life of such Called Principal as of such Settlement Date. If there is no such U.S. Treasury constant maturity having a term equal to such Remaining Average Life, such implied yield to
maturity will be determined by interpolating linearly between (1) the U.S. Treasury constant maturity so reported with the term closest to and greater than such Remaining Average Life and (2) the U.S. Treasury constant maturity so reported
with the term closest to and less than such Remaining Average Life. The Reinvestment Yield shall be rounded to the number of decimal places as appears in the interest rate of the applicable Note. 

“Remaining Average Life” means, with respect to any Called Principal, the number of years obtained by dividing (i) such Called
Principal into (ii) the sum of the products obtained by multiplying (a) the principal component of each Remaining Scheduled Payment with respect to such Called Principal by (b) the number of years, computed on the basis of a 360 day
year composed of twelve 30 day months and calculated to two decimal places, that will elapse between the Settlement Date with respect to such Called Principal and the scheduled due date of such Remaining Scheduled Payment. 

“Remaining Scheduled Payments” means, with respect to the Called Principal of any Bond, all payments of such Called Principal and
interest thereon that would be due after the Settlement Date with respect to such Called Principal if no payment of such Called Principal were made prior to its scheduled due date, provided that if such Settlement Date is not a date on which
interest payments are due to be made under the Bonds, then the amount of the next succeeding scheduled interest payment will be reduced by the amount of interest accrued to such Settlement Date and required to be paid on such Settlement Date
pursuant to this Section 2. 
 “Settlement Date” means, with respect to the Called Principal of any Bond, the date on which
such Called Principal is to be redeemed pursuant to this Section 2. 
 SECTION 3. In the case of each partial redemption of the Bonds,
the principal amount of the Bonds to be redeemed shall be allocated among all of the Bonds at the time outstanding in proportion, as nearly as practicable, to their respective unpaid principal amounts thereof. 

SECTION 4. Any redemption of the Bonds shall be effected in accordance with the provisions of Article V of the Original Indenture. 

  
 31 

 SECTION 5. All Bonds deemed to have been paid in full as provided in Section 2 and 3 of this
Article I of this Forty-eighth Supplemental Indenture shall be surrendered to the Trustee for cancellation, and the Trustee shall forthwith cancel the same and, in accordance with applicable laws and regulations and the Trustee’s policies and
procedures, and on the written request of the Company, deliver the same to the Company. Any Bond paid in full, whether at maturity or earlier redemption, shall be surrendered to the Company and cancelled and shall not be reissued, and no Bond shall
be issued in lieu of the principal amount of such Bond paid at maturity or redemption. In case part of an outstanding Bond shall be deemed to have been partially paid as provided in said Section 2 or Section 3, upon presentation of such
Bond at the designated office of the Trustee, the Trustee shall make a notation thereon of the payment of the portion of the principal amount of such Bond so deemed to have been paid unless the registered owner shall elect to surrender such Bond to
the Trustee, in which case the Company shall execute and the Trustee shall authenticate and deliver, without charge to the registered owner, Bonds in such authorized denominations as shall be specified by the registered owner for the unpaid balance
of the principal amount of such outstanding Bond. The holder of a Bond that has been partially paid, shall not be required to surrender such Bond to the Trustee or the Company; provided, however, prior to any sale or other disposition of any Bond by
a holder thereof, such holder will either endorse thereon the amount of principal paid thereon and the last date to which interest has been paid thereon or surrender such Bond to the Company in exchange for a new Bond or Bonds pursuant to Article II
of the Original Indenture. 
 SECTION 6. The 3.94% Series due 2031 in the aggregate principal amount of $25,000,000, the 4.61% Series due
2045 in the aggregate principal amount of $25,000,000 and the 4.62% Series due 2046 in the aggregate principal amount of $25,000,000 may be issued under the provisions of Article IV of the Original Indenture and may forthwith be executed by the
Company and delivered to the Trustee and shall be authenticated by the Trustee and delivered to or upon the order of the Company, upon receipt by the Trustee of the resolutions, certificates, opinions or other instruments or all of the foregoing
required to be delivered upon the issue of bonds pursuant to the provisions of the Original Indenture 

  
 32 

 ARTICLE II. 

Maintenance or Improvement Deposit. 

SECTION 1. The Company covenants that it will deposit with the Trustee on or before the March 1 next occurring after the bonds of the
bonds of the 9.97% Series due 2018 cease to be outstanding, or on or before the March 1 next occurring after the bonds of the 9.29% Series due 2026 cease to be outstanding, or on or before the March 1 next occurring after the bonds of the
9.17% Series due 2021 cease to be outstanding, or on or before the March 1 next occurring after the bonds of any of the Subseries of the 1995 Medium Term Note Series issued under the Twenty-Ninth Supplemental Indenture (consisting of the 7.72%
Subseries A due 2025 and the 6.89% Subseries C due 2015) shall cease to be outstanding, or on or before March 1 next occurring after the bonds of any of the Subseries of the 1999 Medium Term Note Series issued under the Thirty-Third
Supplemental Indenture (consisting of the 8.14% Subseries J due 2025, the 5.08% Subseries O due 2015, the 5.17% Subseries P due 2017, the 5.751% Subseries Q due 2019, the 5.751% Subseries R due 2019, the 6.06% Subseries S due 2027, the 6.06%
Subseries T due 2027 and the 5.98% Subseries U due 2028) cease to be outstanding, or on or before March 1 next occurring after the bonds of the 5.05% Series due 2039 cease to be outstanding, or on or before March 1 next occurring after the
bonds of the 5.00% Series due 2036 cease to be outstanding, or on or before March 1 next occurring after the bonds of the 5.00% Series due 2037 cease to be outstanding, or on or before March 1 next occurring after the bonds of the 5.00%
Series due 2038 cease to be outstanding, or on or before March 1 next occurring after the bonds of the 5.00% Series due 2035 cease to be outstanding, or on or before March 1 next occurring after the bonds of the 5.00% Series due 2040 cease
to be outstanding or on or before March 1 next occurring after the bonds of the 5.00% Series due 2041 cease to be outstanding, or on or before March 1 next occurring after the bonds of the 5.25% Series due 2042 cease to be outstanding, or
on or before March 1 next occurring after the bonds of the 5.25% Series due 2043 cease to be outstanding, or on or before March 1 next occurring after the bonds of the 6.25% Series due 2017 cease to be outstanding, or on or before
March 1 next occurring after the bonds of the 6.75% Series due 2018 cease to be outstanding, or on or before March 1 next occurring after the bonds of the 5.00% Series due 2033 cease to be outstanding, or on or before March 1 next
occurring after the bonds of the 5.00% Series due 2034 cease to be outstanding, or on or before March 1 next occurring after the bonds of the 5.00% Series due 2039 cease to be outstanding, or on or before March 1 next occurring after the
bonds of the 5.00% Series due 2040 cease to be outstanding, or on or before March 1 next occurring after the bonds of the 4.75% Series due 2040 cease to be outstanding, or on or before March 1 next occurring after the bonds of the 4.50%
Series due 2042 cease to be outstanding, or on or before March 1 next occurring after the bonds of the 5.00% Series due 2043 cease to be outstanding, or on or before March 1, next occurring after the bonds of the 3.79% Series due 2041
cease to be outstanding, or one or before March 1 next occurring after the bonds of the 3.80% Series due 2042 cease to be outstanding, or on or before March 1 next occurring after the bonds of the 3.85% Series due 2047 cease to be
outstanding, whichever is latest, and on or before March 1 in each year thereafter if and so long as any of the Bonds are outstanding, an amount in cash (the “Maintenance or Improvement Deposit”) equal to 9% of the Gross Operating
Revenues of the Company during the preceding calendar year less, to the extent that the Company desires to take such credits, the following: 

(a) the amount actually expended for maintenance during such calendar year; and 

(b) the Cost or Fair Value, whichever is less, of Permanent Additions acquired during such calendar year which at the time of
taking such credit constitute Available Permanent Additions; and 
 (c) the unapplied balance, or any part thereof, of the
Cost or Fair Value, whichever is less, of Available Permanent Additions acquired by the Company during the five calendar years preceding such calendar year and specified in the Officers’ Certificates delivered to the Trustee pursuant to
Section 2 of this Article, but only to the extent that the Permanent Additions with respect to which such Cost or Fair Value was determined shall at the time of taking such credit constitute Available Permanent Additions. 

  
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 SECTION 2. The Company covenants that it will on or before March 1 in each year, beginning
with the first deposit made with the Trustee under the provisions of Section 1 of this Article, as long as any of the Bonds are outstanding, deliver to the Trustee the following: 

(A) An Officers’ Certificate, which shall state: 

(i) The amount of the Gross Operating Revenues for the preceding calendar year; 

(ii) 9% of such Gross Operating Revenues; 

(iii) The amount actually expended by the Company for maintenance during such calendar year; 

(iv) The amount set forth in subparagraph (xii) of each Officers’ Certificate delivered to the Trustee pursuant to
the provisions of this Section during the preceding five calendar years (specifying each such Officers’ Certificate), after deducting from each such amount the aggregate of (a) the Cost or Fair Value, whichever is less, of all Permanent
Additions represented by such amount which have ceased to be Available Permanent Additions; and (b) any part of such amount for which the Company has previously taken credit against any Maintenance or Improvement Deposit (specifying the
Officers’ Certificate in which such credit was taken); and (c) any part of such amount for which the Company then desires to take credit against the Maintenance or Improvement Deposit; 

(v) An amount which shall be the aggregate of all amounts set forth pursuant to the provisions of clause (c) of the
foregoing subparagraph (iv); 
 (vi) The Cost or Fair Value, whichever is less, of Available Permanent Additions acquired by
the Company during the preceding calendar year; 
 (vii) That part of the amount set forth in subparagraph (vi) which
the Company desires to use as a credit against the Maintenance or Improvement Deposit; 
 (viii) The amount of cash payable
to the Trustee under the provisions of Section 1 of this Article, which shall be the amount by which the amount set forth in subparagraph (ii) hereof exceeds the sum of the amounts set forth in subparagraphs (iii), (v) and
(vii) hereof; 
 (ix) The sum of all amounts charged on the books of the Company against any reserve for retirement or
depreciation during the preceding calendar year representing the aggregate of the Cost when acquired of any part of the Company’s plants and property of the character described in the granting clauses hereof which has been permanently retired
or abandoned; 
 (x) The aggregate of the amounts set forth in subparagraphs (v) and (vii) hereof; 

  
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 (xi) The amount by which the amount set forth in subparagraph (x) exceeds
the amount set forth in subparagraph (ix), being the amount required to be deducted from the Cost or Fair Value of Available Permanent Additions in order to determine a Net Amount of Available Permanent Additions pursuant to the provisions of
Section 9 of Article I of the Original Indenture; 
 (xii) The amount set forth in subparagraph (vi) after
deducting the amount, if any, set forth in subparagraph (vii); and 
 (xiii) That all conditions precedent to the taking of
the credit or credits so requested by the Company have been complied with. 
 (B) In the event that the Officers’ Certificate delivered
to the Trustee pursuant to the provisions of paragraph (A) of this Section shall state, pursuant to the requirements of subparagraph (vi), the Cost or Fair Value of Available Permanent Additions acquired by the Company during the preceding
calendar year, the documents specified in paragraphs 2, 3, 5, 6 and 7 of subdivision (B) of Section 3 of Article IV of the Original Indenture. 

(C) An amount in cash equal to the sum set forth in subparagraph (viii) of the Officers’ Certificate provided for in paragraph
(A) hereof. 
 SECTION 3. All cash deposited with the Trustee as part of any Maintenance or Improvement Deposit provided for in
Section 1 of this Article, may, at the option of the Company, be applied to the purchase of bonds under the provisions of Section 2 of Article X of the Original Indenture or to the redemption of bonds under the provisions of Section 3
of Article X of the Original Indenture or may be withdrawn by the Company at any time to reimburse the Company for the cost of a Net Amount of Available Permanent Additions (excluding, however, from any such Available Permanent Additions all
Permanent Additions included in any certificate delivered to the Trustee for the purpose of obtaining a credit against any Maintenance or Improvement Deposit provided for in Section 1 of this Article to the extent that such Permanent Additions
have been used for any such credit). The Trustee shall pay to or upon the written order of the Company all or any part of such cash upon the receipt by the Trustee of: 

(a) A Resolution requesting such payment; and 

(b) The documents specified in paragraphs 2, 5, 6 and 7 of subdivision (B) of Section 3 of Article IV of the Original Indenture,
with such modifications, additions and omissions as may be appropriate in the light of the purposes for which they are used. 

  
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 ARTICLE III. 

Covenants of the Company. 

SECTION 1. The Company hereby covenants and agrees with the Trustee, for the benefit of the Trustee and all the present and future holders of
the Bonds, that the Company will pay the principal of and premium, if any, of and interest on all bonds issued or to be issued as aforesaid under and secured by the Original Indenture as hereby supplemented, as well as all bonds which may be
hereafter issued in exchange or substitution therefor, and will perform and fulfill all of the terms, covenants and conditions of the Original Indenture and of this Forty-eighth Supplemental Indenture with respect to the additional bonds to be
issued under the Original Indenture as hereby supplemented. 
 SECTION 2. The Company covenants and agrees that so long as any of the Bonds
are outstanding (a) the Company will not make any Stock Payment if, after giving effect thereto, its retained earnings, computed in accordance with generally accepted accounting principles consistently applied, will be less than the sum of
(i) Excluded Earnings, if any, since December 31, 2012, and (ii) $20,000,000; (b) Stock Payments made more than forty (40) days after the commencement, and prior to the expiration, of any Restricted Period shall not exceed
65% of the Company’s Net Income during such Restricted Period; and (c) the Company will not authorize a Stock Payment if there has occurred and is continuing an event of default under subsections (a) or (b) of Section 1 of
Article XI of the Original Indenture. 
 For the purposes of this Section 2 the following terms shall have the following meanings: 

“Capitalization” shall mean the sum of (i) the aggregate principal amount of all Debt at the time outstanding, (ii) the
aggregate par or stated value of all capital stock of the Company of all classes at the time outstanding, (iii) premium on capital stock, (iv) capital surplus, and (v) retained earnings. 

“Debt” means (i) all indebtedness, whether or not represented by bonds, debentures, notes or other securities, for the
repayment of money borrowed, (ii) all deferred indebtedness for the payment of the purchase price of property or assets purchased (but Debt shall not be deemed to include customer advances for construction or any bonds issued under the
Indenture which are not Outstanding Bonds), (iii) leases which have been or, in accordance with generally accepted accounting principles, should be recorded as capital leases and (iv) guarantees of the obligations of another of the nature
described in clauses (i), (ii) or (iii) which have been or, in accordance with generally accepted accounting principles, should be recorded as debt. 

“Determination Date” shall mean the last day of each calendar quarter. Any calculation with respect to any Determination Date shall
be based on the Company’s balance sheet as of such date. 
 “Excluded Earnings” shall mean 35% of the Company’s Net
Income during any Restricted Period. 
 “Net Income” for any particular Restricted Period shall mean the amount of net income
properly attributable to the conduct of the business of the Company for such period, as determined in accordance with generally accepted accounting principles consistently applied, after payment of or provision for taxes on income for such period.

  
 36 

 “Outstanding Bonds” shall mean bonds which are outstanding within the meaning indicated
in Section 20 of Article I of the Original Indenture except that, in addition to the bonds referred to in clauses (a), (b) and (c) of said Section 20, said term shall not include bonds for the retirement of which sufficient funds
have been deposited with the Trustee with irrevocable instructions to apply such funds to the retirement of such bonds at a specified time, which may be either the maturity thereof or a specified redemption date, whether or not notice of redemption
shall have been given. 
 “Restricted Period” shall mean a period commencing on any Determination Date on which the total Debt of
the Company is, or as the result of any Stock Payment then declared or set aside and to be made thereafter will be, more than 70% of Capitalization, and continuing until the third consecutive Determination Date on which the total Debt of the Company
does not exceed 70% of Capitalization. 
 “Stock Payment” shall mean any payment in cash or property (other than stock of the
Company) to any holder of shares of any class of capital stock of the Company as such holder, whether by dividend or upon the purchase, redemption, conversion or other acquisition of such shares, or otherwise. 

SECTION 3. The Company covenants and agrees that so long as any of the Bonds are outstanding neither the Company nor any subsidiary of the
Company will, directly or indirectly, lend or in any manner extend its credit to, or indemnify, or make any donation or capital contribution to, or purchase any security of, any corporation which directly or indirectly controls the Company, or any
subsidiary or affiliate (other than an affiliate which is a subsidiary of the Company) of any such corporation. 
 ARTICLE IV. 

The Trustee. 
 SECTION 1.
The Trustee hereby accepts the trust hereby declared and provided, and agrees to perform the same upon the terms and conditions in the Original Indenture, as supplemented by this Forty-eighth Supplemental Indenture. 

SECTION 2. Subject to the provisions of Article XIII of the Original Indenture, the Trustee may execute any of the trusts or powers hereof and
perform any of its duties by or through and consult with attorneys, agents, officers or employees selected by the Trustee in its sole discretion. The Trustee shall be entitled to advice of counsel concerning all matters of trusts hereof and the
duties hereunder and may in all cases pay such reasonable compensation to all such attorneys, agents, officers and employees as may reasonably be employed in connection with the trusts hereof. The Trustee may act or refrain from acting and rely upon
and be free from all liability for so relying upon the opinion or advice of any attorney (who may be the attorney or attorneys for the Company) and shall be free from all liability for any action taken or not taken in reliance on such opinion or
advice. The Trustee may act and rely on written opinions of experts employed by the Trustee and such advice shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by the Trustee hereunder in good
faith and in reliance thereon. The Trustee shall not be responsible for any loss or damage resulting from any action or non-action in good faith taken in reliance upon such opinion or advice. The Trustee shall not be bound to confirm, verify or make
any investigation into the facts or matters stated in any financial or other statements, resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order or other paper or document furnished pursuant to the
terms hereof. 

  
 37 

 SECTION 3. Before the Trustee shall be required to foreclose on, or to take control or possession
of, the real property or leasehold interest (the “Premises”) which may be the subject of any mortgage or mortgages for which the Trustee is mortgagee in connection with the issuance of the Bonds, the Trustee shall be indemnified and held
harmless by the holders and/or beneficial owners of the Bonds from and against any and all expense, loss, or liability that may be suffered by the Trustee in connection with any spill, leak or release which may have occurred on or invaded the
Premises or any contamination by any Hazardous Substance (as such terms are hereinafter defined), whether caused by the Company or any other person or entity, including, but not limited to, (1) any and all reasonable expenses that the Trustee
may incur in complying with any of the Environmental Statutes (hereinafter defined), (2) any and all reasonable costs that the Trustee may incur in studying or remedying any spill, leak or release which may have occurred on or invaded the
Premises or any contamination, (3) any and all fines or penalties assessed upon the Trustee by reason of such contamination, (4) any and all loss of value of the Premises or the improvements thereon by reason of such contamination, and
(5) any and all legal fees and costs reasonably incurred by the Trustee in connection with any of the foregoing. As used in this Section, contamination by any Hazardous Substance shall include contamination arising from the presence, creation,
production, collection, treatment, disposal, discharge, release, storage, transport, or transfer of any Hazardous Substance at or from the Premises or any improvements thereon. As used in this Section, the term “Hazardous Substance” shall
mean petroleum hydrocarbons or any substance which (a) constitutes a hazardous waste or substance under any applicable federal, state or local law, rule, order or regulation now or hereafter adopted; (b) constitutes a “hazardous
substance” as such term is defined under the Comprehensive Environmental Response, Compensation and Liability Act, as amended (42 U.S.C. §9601 et seq.) and the regulations issued thereunder and any comparable state or local law or
regulation; (c) constitutes a “hazardous waste” under the Resource Conservation and Recovery Act, (42 U.S.C. §6991) and the regulations issued thereunder and any comparable state or local law or regulation; (d) constitutes a
pollutant, contaminant, chemical or industrial, toxic or hazardous substance or waste as such terms are defined under the Federal Clean Water Act, as amended (33 U.S.C. §1251 et seq.), the Toxic Substances Control Act, as amended (15 U.S.C.
§ 2601 et seq.), or any comparable state or local laws or regulations; (e) exhibits any of the characteristics enumerated in 40 C.F.R. Sections 261.20-261.24, inclusive; (f) those extremely hazardous substances listed in
Section 302 of the Superfund Amendments and Reauthorization Act of 1986 (Public Law 99-499, 100 Stat. 1613) which are present in threshold planning or reportable quantities as defined under such act; (g) toxic or hazardous chemical
substances which are present in quantities which exceed exposure standards as those terms are defined under Sections 6 and 8 of the Occupational Safety and Health Act, as amended (29 U.S.C. §§655 and 657 and 29 C.F.R. Part 1910, subpart
2); and (h) any asbestos, petroleum-based products, or any substance contained within or released from any underground or aboveground storage tanks. As used in this Section, the term “Environmental Statutes” shall mean the statutes,
laws, rules, orders and regulations referred to in (a) through (g) inclusive in the preceding. 
 [Remainder of page intentionally
left blank] 

  
 38 

 ARTICLE V. 

Miscellaneous. 
 SECTION
1. This instrument is executed and shall be construed as an indenture supplemental to the Original Indenture, and shall form a part thereof, and except as hereby supplemented, the Original Indenture and the First, Second, Third, Fourth, Fifth,
Sixth, Seventh, Eighth, Ninth, Tenth, Eleventh, Twelfth, Thirteenth, Fourteenth, Fifteenth, Sixteenth, Seventeenth, Eighteenth, Nineteenth, Twentieth, Twenty-First, Twenty-Second, Twenty-Third, Twenty-Fourth, Twenty-Fifth, Twenty-Sixth,
Twenty-Seventh, Twenty-Eighth, Twenty-Ninth, Thirtieth, Thirty-First, Thirty-Second, Thirty-Third, Thirty-Fourth, Thirty-Fifth, Thirty-Sixth, Thirty-Seventh, Thirty-Eighth, Thirty-Ninth, Fortieth, Forty-first, Forty-second, Forty-third,
Forty-fourth, Forty-fifth, Forty-sixth and Forty-seventh Supplemental Indentures are hereby confirmed. All references in this Forty-eighth Supplemental Indenture to the Original Indenture shall be deemed to refer to the Original Indenture as
heretofore amended and supplemented, and all terms used herein and not specifically defined herein shall be taken to have the same meaning as in the Original Indenture, as so amended, except in the cases where the context clearly indicates
otherwise. 
 SECTION 2. Any notices to the Trustee under this Forty-eighth Supplemental Indenture shall be delivered to the Trustee by
registered or certified mail, hand delivery or other courier or express delivery service (with receipt confirmed) or by telecopy (with receipt confirmed) at the following address: 

The Bank of New York Mellon Trust Company, N. A. 

Global Corporate Trust 
 1735
Market Street, 6th Floor 
 AIM No: 193-0650 

Philadelphia, PA 19103 

Attention: Judy Wisniewski 

Telephone: 215-553-6941 
 Fax:
215-553-6915 
 Any change in such address or telecopy number may be made by notice to the Company delivered in the manner set forth above. 

SECTION 3. All recitals in this Forty-eighth Supplemental Indenture are made by the Company only and not by the Trustee; and all of the
provisions contained in the Original Indenture in respect of the rights, privileges, immunities, powers and duties of the Trustee shall be applicable in respect hereof as fully and with like effect as if set forth herein in full. 

SECTION 4. Although this Forty-eighth Supplemental Indenture is dated for convenience and for the purpose of reference as of October 1,
2013, the actual date or dates of execution hereof by the Company and the Trustee are as indicated by their respective acknowledgments annexed hereto. 

  
 39 

 SECTION 5. In order to facilitate the recording or filing of this Forty-eighth Supplemental
Indenture, the same may be simultaneously executed in several counterparts, each of which shall be deemed to be an original and such counterparts shall together constitute but one and the same instrument. 

[Remainder of page intentionally left blank] 

  
 40 

 IN WITNESS WHEREOF the parties hereto have caused their corporate seals to be hereunto affixed
and their authorized officers have hereto affixed their signatures, and their authorized officers have duly attested the execution hereof, as of the day first above written. 
  

							
	[CORPORATE SEAL]	 		 	AQUA PENNSYLVANIA, INC.,
		 		 	as successor by merger to
		 		 	Philadelphia Suburban Water Company
				
	Attest: /s/ Maria Gordiany                            	 		 	By:	 	 /s/ Diana Moy Kelly

		 		 		 	Name: Diana Moy Kelly
		 		 		 	Title: Treasurer
			
	[CORPORATE SEAL]	 		 	THE BANK OF NEW YORK
		 		 	MELLON TRUST COMPANY, N. A.,
		 		 	as Trustee
	Attest: /s/ Teresa Petta                                	 		 		 	
	 Authorized Officer
	 		 	By:	 	 /s/ Melonee Young

		 		 	Name: Melonee Young
		 		 	Title: Authorized Signer

  
 41 

 The Bank of New York Mellon Trust Company, N.A., Mortgagee and Trustee named in the foregoing
Forty-eighth Supplemental Indenture, hereby certifies that its precise name and the post office address are as follows: 
 The Bank of New
York Mellon Trust Company, N. A. 
 Global Corporate Trust. 

1735 Market Street, 6th Floor 

AIM No: 193-0650 
 Philadelphia,
PA 19103 
 Attention: Judy Wisniewski 

Telephone: 215-553-6941 
 Fax:
215-553-6915 
  

			
	THE BANK OF NEW YORK
	MELLON TRUST COMPANY, N. A.,
	as Trustee
		
	By:	 	 /s/ Melonee Young

	Name: Melonee Young
	Title: Authorized Signer

  
 42 

 COMMONWEALTH OF PENNSYLVANIA: 

COUNTY OF MONTGOMERY: 
 On the 2nd day of
October, 2013 before me, the Subscriber, a Notary Public for the Commonwealth of Pennsylvania, personally appeared Diana Moy Kelly, who acknowledged herself to be the Treasurer of Aqua Pennsylvania, Inc., a corporation, and that she as such
Treasurer, being authorized to do so, executed the foregoing Forty-eighth Supplemental Indenture as and for the act and deed of said corporation and for the uses and purposes therein mentioned, by signing the name of the corporation by herself as
such officer. 
 In Witness Whereof I hereunto set my hand and official seal. 

[NOTARIAL SEAL] 
 /s/
Jacqueline Peyreferry                                  

  
 43 

 ACKNOWLEDGMENT 

STATE OF CALIFORNIA 
 COUNTY OF
                                    ) 

On October     2, 2013 before me Kristie Dianne Duenes, Notary Public personally appeared Melonee Young, an authorized officer of The Bank
of New York Mellon Trust Company, N.A., who proved to me on the basis of satisfactory evidence to be the person(s) whose name is subscribed to the within instrument and acknowledged to me that she executed the same in her authorized capacity, and
that by her signature on the instrument the person, or the entity upon behalf of which the person acted, executed the instrument. 
 I certify under PENALTY
OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. 
 WITNESS my hand and official seal. 

 

			
	Signature /s/ Kristie Dianne Duenes                        	  	(Seal)

  
 44 

 EXHIBIT A 

OUTSTANDING FIRST MORTGAGE BONDS 
  

																			
	 	  	 	  	Interest	 	 	Issue	  	Maturity	  	Original	 	  	Balance (incl. CP)	 
	 Division
	  	Structure	  	Rate	 	 	Date	  	Date	  	Amount	 	  	@ 06/30/13	 
	 Roaring Creek
	  	Tax Exempt	  	 	5.05	% 	 	11/30/04	  	10/01/39	  	 	14,000,000	  	  	 	14,000,000	  
	 Aqua Pa
	  	Tax Exempt	  	 	5.15	% 	 	06/26/02	  	09/01/32	  	 	25,000,000	  	  	 	25,000,000	  
	 Aqua Pa
	  	Tax Exempt	  	 	5.00	% 	 	05/19/05	  	11/01/36	  	 	21,770,000	  	  	 	21,770,000	  
	 Aqua Pa
	  	Tax Exempt	  	 	5.00	% 	 	05/19/05	  	11/01/37	  	 	24,165,000	  	  	 	24,165,000	  
	 Aqua Pa
	  	Tax Exempt	  	 	5.00	% 	 	05/19/05	  	11/01/38	  	 	25,375,000	  	  	 	25,375,000	  
	 Aqua Pa
	  	Tax Exempt	  	 	5.00	% 	 	12/28/05	  	02/01/35	  	 	24,675,000	  	  	 	24,675,000	  
	 Aqua Pa
	  	Tax Exempt	  	 	5.00	% 	 	01/16/07	  	02/01/40	  	 	23,915,000	  	  	 	23,915,000	  
	 Aqua Pa
	  	Tax Exempt	  	 	5.00	% 	 	01/16/07	  	02/01/41	  	 	23,915,000	  	  	 	23,915,000	  
	 Aqua Pa
	  	Tax Exempt	  	 	5.25	% 	 	12/20/07	  	07/01/42	  	 	24,830,000	  	  	 	24,830,000	  
	 Aqua Pa
	  	Tax Exempt	  	 	5.25	% 	 	12/20/07	  	07/01/43	  	 	24,830,000	  	  	 	24,830,000	  
	 Aqua Pa
	  	Tax Exempt	  	 	6.25	% 	 	12/18/08	  	10/01/17	  	 	9,000,000	  	  	 	9,000,000	  
	 Aqua Pa
	  	Tax Exempt	  	 	6.75	% 	 	12/18/08	  	10/01/18	  	 	13,000,000	  	  	 	13,000,000	  
	 Aqua Pa
	  	Tax-Exempt	  	 	5.00	% 	 	07/18/09	  	10/01/39	  	 	58,000,000	  	  	 	58,000,000	  
	 Aqua Pa
	  	Tax-Exempt	  	 	5.00	% 	 	11/17/09	  	11/15/40	  	 	62,165,000	  	  	 	62,165,000	  
	 Aqua Pa
	  	Tax-Exempt	  	 	4.75	% 	 	11/17/09	  	11/15/40	  	 	12,520,000	  	  	 	12,520,000	  
	 Aqua Pa
	  	Tax-Exempt	  	 	5.00	% 	 	11/17/10	  	12/01/33	  	 	25,910,000	  	  	 	25,910,000	  
	 Aqua Pa
	  	Tax-Exempt	  	 	5.00	% 	 	11/17/10	  	12/01/34	  	 	19,270,000	  	  	 	19,270,000	  
	 Aqua Pa
	  	Tax-Exempt	  	 	4.50	% 	 	11/17/10	  	12/01/42	  	 	15,000,000	  	  	 	15,000,000	  
	 Aqua Pa
	  	Tax-Exempt	  	 	5.00	% 	 	11/17/10	  	12/01/43	  	 	81,205,000	  	  	 	81,205,000	  
		  		  				 		  		  	  
	  
	 	  	  
	  
	 
		  		  				 		  		  	 	528,545,000	  	  	 	528,545,000	  
		  		  				 		  		  	  
	  
	 	  	  
	  
	 
	 Aqua Pa
	  	Taxable	  	 	6.89	% 	 	12/19/95	  	12/15/15	  	 	12,000,000	  	  	 	12,000,000	  
	 Aqua Pa
	  	Taxable	  	 	7.72	% 	 	05/19/95	  	05/15/25	  	 	15,000,000	  	  	 	15,000,000	  
	 Shenango
	  	Taxable	  	 	8.14	% 	 	11/01/95	  	11/01/25	  	 	4,000,000	  	  	 	4,000,000	  
	 Aqua Pa
	  	Taxable	  	 	9.17	% 	 	11/01/91	  	09/15/21	  	 	8,000,000	  	  	 	3,600,000	  
	 Aqua Pa
	  	Taxable	  	 	9.29	% 	 	11/01/91	  	09/15/26	  	 	12,000,000	  	  	 	12,000,000	  
	 Aqua Pa
	  	Taxable	  	 	9.97	% 	 	06/01/88	  	06/01/18	  	 	5,000,000	  	  	 	5,000,000	  
	 Aqua Pa
	  	Taxable	  	 	5.08	% 	 	05/10/04	  	05/15/15	  	 	20,000,000	  	  	 	20,000,000	  
	 Aqua Pa
	  	Taxable	  	 	5.17	% 	 	05/10/04	  	05/10/17	  	 	7,000,000	  	  	 	7,000,000	  
	 Aqua Pa
	  	Taxable	  	 	5.751	% 	 	05/10/04	  	05/15/19	  	 	15,000,000	  	  	 	15,000,000	  
	 Aqua Pa
	  	Taxable	  	 	5.751	% 	 	05/10/04	  	05/15/19	  	 	5,000,000	  	  	 	5,000,000	  
	 Aqua Pa
	  	Taxable	  	 	6.06	% 	 	05/10/04	  	05/10/27	  	 	15,000,000	  	  	 	15,000,000	  
	 Aqua Pa
	  	Taxable	  	 	6.06	% 	 	05/10/04	  	05/15/27	  	 	5,000,000	  	  	 	5,000,000	  
	 Aqua Pa
	  	Taxable	  	 	5.98	% 	 	05/10/04	  	05/15/28	  	 	3,000,000	  	  	 	3,000,000	  
	 Aqua PA
	  	Taxable	  	 	3.79	% 	 	11/13/12	  	12/01/41	  	 	40,000,000	  	  	 	40,000,000	  
	 Aqua PA
	  	Taxable	  	 	3.80	% 	 	11/13/12	  	12/01/42	  	 	20,000,000	  	  	 	20,000,000	  
	 Aqua PA
	  	Taxable	  	 	3.85	% 	 	11/13/12	  	12/01/47	  	 	20,000,000	  	  	 	20,000,000	  
		  		  				 		  		  	  
	  
	 	  	  
	  
	 
		  		  				 		  		  	 	206,000,000	  	  	 	201,600,000	  
		  		  				 		  		  	  
	  
	 	  	  
	  
	 
	         TOTAL FIRST MORTGAGE BONDS
	  		  				 		  		  	 	734,545,000	  	  	 	730,145,000	  
		  		  				 		  		  	  
	  
	 	  	  
	  
	 

  
 A-1 

 EXHIBIT B 

RECORDING INFORMATION 
 BUCKS, CHESTER,
DELAWARE AND MONTGOMERY COUNTIES 
  

																			
	 	  	 	  	Bucks	  	Chester	  	Delaware	  	Montgomery
	 Indenture
	  	Date of
Recording	  	Book	  	Page	  	Book	  	Page	  	Book	  	Page	  	Book	  	Page
	 Original
	  	2/20/41	  	496	  	1	  	H-13.Vol.307	  	20	  	1034	  	1	  	1625	  	1
	 First Supplemental
	  	8/26/48	  	632	  	1	  	F-16.Vol.380	  	200	  	1668	  	169	  	2031	  	257
	 Second Supplemental
	  	7/1/52	  	768	  	438	  	18.Vol.425	  	186	  	1962	  	376	  	2360	  	517
	 Third Supplemental
	  	11/25/53	  	895	  	1	  	18.Vol.442	  	325	  	2052	  	1	  	2493	  	1
	 Fourth Supplemental
	  	1/9/56	  	1089	  	155	  	Z-20.Vol.499	  	1	  	2199	  	1	  	2722	  	425
	 Fifth Supplemental
	  	3/20/57	  	1181	  	316	  	B-22.Vol.536	  	601	  	2294	  	50	  	2850	  	335
	 Sixth Supplemental
	  	5/9/58	  	1254	  	1	  	G-23	  	201	  	2380	  	039	  	2952	  	289
	 Seventh Supplemental
	  	9/25/59	  	1332	  	509	  	B-25	  	109	  	2442	  	1	  	3090	  	249
	 Eighth Supplemental
	  	5/9/61	  	—  	  	—  	  	Z-26	  	17	  	2526	  	312	  	—  	  	—  
	 Eighth Supplemental
	  	5/10/61	  	1409	  	225	  	—  	  	—  	  	—  	  	—  	  	3249	  	289
	 Ninth Supplemental
	  	4/10/62	  	1458	  	372	  	G-28	  	126	  	2581	  	463	  	3307	  	169
	 Tenth Supplemental
	  	3/19/64	  	1568	  	1	  	M-30	  	967	  	2976	  	1043	  	3310	  	237
	 Eleventh Supplemental
	  	11/4/66	  	1655	  	695	  	Q-32	  	6682	  	762	  	223	  	3549	  	129
	 Twelfth Supplemental
	  	1/23/68	  	1691	  	531	  	N-33	  	219	  	2792	  	708	  	3542	  	315
	 Thirteenth Supplemental
	  	7/2/70	  	1763	  	1167	  	D-35	  	80	  	2850	  	301	  	3687	  	23
	 Fourteenth Supplemental
	  	11/5/70	  	1774	  	331	  	K-35	  	713	  	2858	  	3113	  	700	  	548
	 Fifteenth Supplemental
	  	12/11/72	  	1869	  	196	  	O-37	  	998	  	2926	  	550	  	3786	  	96
	 Sixteenth Supplemental
	  	5/28/75	  	1979	  	14	  	E-44	  	77	  	3005	  	511	  	4010	  	307
	 Seventeenth Supplemental
	  	12/18/77	  	2072	  	683	  	L-51	  	1	  	3072	  	43	  	5002	  	436
	 Eighteenth Supplemental
	  	4/29/77	  	2082	  	567	  	B-52	  	344	  	3078	  	728	  	5003	  	291
	 Nineteenth Supplemental
	  	6/23/80	  	2303	  	714	  	J-62	  	92	  	3261	  	293	  	5030	  	502
	 Twentieth Supplemental
	  	8/2/83	  	2487	  	370	  	D-72	  	1	  	96	  	810	  	5662	  	1045
	 Twenty-First Supplemental
	  	8/27/85	  	2690	  	806	  	54	  	550	  	—  	  	—  	  	5864	  	1347

  
 B-1 

																			
	 	  	 	  	Bucks	  	Chester	  	Delaware	  	Montgomery
	 Indenture
	  	Date of
Recording	  	Book	  	Page	  	Book	  	Page	  	Book	  	Page	  	Book	  	Page
	 Twenty-First Supplemental
	  	8/28/85	  	—  	  	—  	  	—  	  	—  	  	264	  	159	  	—  	  	—  
	 Twenty-Second Supplemental
	  	4/22/86	  	2774	  	160	  	263	  	275	  	326	  	592	  	5944	  	360
	 Twenty-Third Supplemental
	  	4/1/87	  	2960	  	693	  	—  	  	—  	  	—  	  	—  	  	—  	  	—  
	 Twenty-Third Supplemental
	  	4/2/87	  	—  	  	—  	  	680	  	337	  	447	  	1807	  	6115	  	602
	 Twenty-Fourth Supplemental
	  	7/25/88	  	3199	  	1095	  	1224	  	389	  	0593	  	0585	  	6324	  	143
	 Twenty-Fifth Supplemental
	  	1/12/90	  	0136	  	0250	  	1848	  	205	  	731	  	1571	  	6538	  	376
	 Twenty-Sixth Supplemental
	  	11/8/91	  	369	  	2190	  	2660	  	205	  	894	  	2241	  	6780	  	891
	 Twenty-Seventh Supplemental
	  	6/29/92	  	0487	  	1829	  	3055	  	182	  	0969	  	2023	  	6918	  	302
	 Twenty-Eighth Supplemental
	  	4/22/93	  	0652	  	1335	  	3542	  	1542	  	1081	  	0852	  	7112	  	0539
	 Twenty-Ninth Supplemental
	  	3/30/95	  	1045	  	1872	  	3875	  	1368	  	1349	  	0829	  	7561	  	1155
	 Thirtieth Supplemental
	  	8/30/95	  	1111	  	0798	  	3932	  	0471	  	1393	  	2255	  	7631	  	0689
	 Thirty-First Supplemental
	  	7/11/97	  	1421	  	2196	  	4201	  	2133	  	1607	  	138	  	7968	  	779
	 Thirty-Second Supplemental
	  	10/6/99	  	1939	  	421	  	4646	  	642	  	1936	  	1207	  	8548	  	1067
	 Thirty-Third Supplemental
	  	11/30/99	  	1970	  	1573	  	4675	  	1272	  	1936	  	1207	  	85898	  	317
	 Thirty-Fourth Supplemental
	  	10/31/01	  	2471	  	1207	  	5101	  	2142	  	2288	  	0174	  	9225	  	761
	 Thirty-Fifth Supplemental
	  	1/10/02	  	2541	  	765	  	5152	  	818	  	2329	  	1019	  	9314	  	1079
	 Thirty-Sixth Supplemental
	  	6/5/02	  	2731	  	1881	  	5296	  	356	  	2448	  	1862	  	9593	  	1416
	 Thirty-Seventh Supplemental
	  	12/27/02	  	3036	  	1425	  	12/31/02
 B-5514
	  	1552	  	12/31/02
 02631
	  	0294	  	12/30/02
 10018
	  	0204
	 Thirty-Eighth Supplemental
	  	11/9/04	  	4196	  	1557	  	11/23/04
 B-6342
	  	800	  	11/22/04
 B-3348
	  	1698	  	11/22/04
 B-00020
	  	0237
	 Thirty-Ninth Supplemental
	  	5/18/05	  	4441	  	1471
 #2005066104
	  	5/19/05
 6496
	  	1375
 #10534807
	  	03487	  	0939
 32005044507
	  	0020	  	0688
 2005069126

	 Fortieth Supplemental
	  	12/27/05	  	4768	  	1853	  	12/23/05
 6720
	  	897
 #10608829
	  	12/23/05
 03687
	  	2206
 #2005123053
	  	12/29/05
 11689
	  	1156
	 Forty-first Supplemental
	  	1/11/07	  	5250	  	1290
 #2007004610
	  	1/12/07
 7058
	  	820
 #10720615
	  	1/11/07
 04002
	  	2257	  	1/30/07
 0225
	  	00329
 #2007005061

  
 B-2 

																			
	 	  	 	  	Bucks	  	Chester	  	Delaware	  	Montgomery
	 Indenture
	  	Date of
Recording	  	Book	  	Page	  	Book	  	Page	  	Book	  	Page	  	Book	  	Page
	 Forty-second Supplemental
	  	12/13/07	  		  	#2007119080	  	12/13/07
 7326
	  	2091
 #10809606
	  	12/13/07
 04262
	  	1166
 #2007105884
	  	12/17/07
 12287
	  	02498-02544
 #2007147147

	 Forty-third Supplemental
	  	12/08/08	  	5961	  	2131
 #2008099812
	  	12/08/08
 7556
	  	1527
 #10889672
	  	12/08/08
 4466
	  	1185	  	12/08/08
 12504
	  	2585
 #2008115955

	 Forty-fourth Supplemental
	  	07/14/09	  	6158	  	2032
 2009057188
	  	07/13/09
 7720
	  	1563
 #10943667
	  	07/09/09
 4579
	  	1919
 #2009042911
	  	07/14/09
 12659
	  	894
 #2009075197

	 Forty-fifth Supplemental
	  	11/12/09	  	6266	  	1759	  	11/12/09
 7808
	  	255	  	11/12/09
 4654
	  	767	  	11/12/09
 12735
	  	2281
	 Forty-sixth Supplemental
	  	11/09/10	  	Instrument #2010079859	  	11/09/10	  	673	  	11/09/10
 4833
	  	1240	  	11/15/10
 12958
	  	587
	 Forty-seventh
	  	11/08/12	  	Instrument #2012093134	  	11/07/12
 8558
	  	1437	  	11/07/12
 5216
	  	763	  	11/05/12
 13445
	  	792

  
 B-3 

  
 BERKS COUNTY 
  

							
	 Indenture
	  	Date of
Recording	  	Book	  	Page
	Original	  	8/16/99	  	3113	  	707
	Thirty-Second Supplemental	  	10/6/99	  	3132	  	1510
	Thirty-Third Supplemental	  	11/30/99	  	3149	  	1260
	Thirty-Fourth Supplemental	  	10/31/01	  	3421	  	896
	Thirty-Fifth Supplemental	  	1/10/02	  	3461	  	417
	Thirty-Sixth Supplemental	  	6/4/02	  	3544	  	1357
	Thirty-Seventh Supplemental	  	12/30/02	  	3664	  	0001
	Thirty-Eighth Supplemental	  	11/30/04	  	4197	  	988
	Thirty-Ninth Supplemental	  	5/18/05	  	04583	  	1017
	Fortieth Supplemental	  	02/09/06	  	04782	  	1916
	Forty-first Supplemental	  	1/11/07	  	05054	  	0013
	Forty-second Supplemental	  	12/13/07	  	05272	  	1398
 #2007073573

	Forty-third Supplemental	  	12/09/08	  	Instr. #200805825
	Forty-fourth Supplemental	  	07/14/09	  	Instr. #2009033415
	Forty-fifth Supplemental	  	11/12/09	  	Instr. #2009053102
	Forty-sixth Supplemental	  	11/12/10	  	Instr. #2010044820

  
 B-4 

 BERKS COUNTY 
  

							
	 Indenture
	  	Date of
Recording	  	Book	  	Page
	Forty-seventh Supplemental	  	11/07/12	  	Instrument #2012046626

  
 B-5 

 BRADFORD, COLUMBIA, LAWRENCE, MERCER, NORTHUMBERLAND, PIKE, SCHUYLKILL AND WAYNE COUNTIES 

 

																			
	 	 	BRADFORD	 	COLUMBIA	 	LAWRENCE	 	MERCER
	 Indenture
	 	Date of
Recording	 	Instrument
No.	 	Date of
Recording	 	Instrument
No.	 	Date of
Recording	 	Book	 	Page	 	Date of
Recording	 	Instrument No.
	 Thirty-Fifth Supplemental
	 	12/21/01	 	200115497	 		 		 		 	1688	 	744	 		 	
	 Thirty-Sixth Supplemental
	 	07/04/02	 	200207151	 		 		 		 		 		 		 	
	 Thirty-Seventh Supplemental
	 	12/30/02	 	200216472	 		 		 		 		 		 		 	
	 Thirty-Eighth Supplemental
	 	11/22/04	 	200415112	 	11/30/04	 	200413567	 	11/24/04	 	1992	 	0291	 	11/24/04	 	2004020435
	 Thirty-Ninth Supplemental
	 	5/16/05	 	200504827	 	5/18/05	 	200505042	 	5/16/2005	 	2032	 	200
 #005488
	 	5/13/05	 	2005-7340
	 Fortieth Supplemental
	 	12/23/05	 	200594992	 	12/23/05	 	200513981	 	12/27/05	 	2088	 	0934
 #015325
	 	12/27/05	 	2005-
00020320
	 Forty-first Supplemental
	 	1/12/07	 	200700440	 	1/17/07	 	200700636	 	1/11/07	 	2007	 	000466	 	1/12/07	 	2007-
 00000583

	 Forty-second Supplemental
	 	12/18/07	 	200714762	 	12/20/07	 	200712896	 	12/17/07	 	2007	 	013275	 	12/14/07	 	2007
 00016849

	 Forty-third Supplemental
	 	12/10/08	 	200821178	 	12/11/08	 	200812596	 	12/12/08	 	2008	 	00014552	 	12/12/08	 	2008
 00014552

	 Forty-fourth Supplemental
	 	07/09/09	 	200914068	 	07/10/09	 	200906468	 	07/14/09	 	2009	 	005608	 	07/09/09	 	2009
 00007283

	 Forty-fifth Supplemental
	 	11/12/09	 	200924720	 	11/12/09	 	200910768	 	11/13/09	 	2009	 	009439	 	11/12/09	 	2009
 00012159

	 Forty-Sixth Supplemental
	 	11/04/10	 	201025652	 	11/12/10	 	201010292	 	11/08/10	 	2010	 	009211	 	11/05/10	 	2010
 11283

	 Forty-Seventh Supplemental
	 	11/06/12	 	201230341	 	11/07/12	 	201210538	 	11/07/12	 	Instrument #2012-014826	 	11/07/12	 	Instrument #2012-00015794

  
 B-6 

																																	
	 	 	NORTHUMBERLAND	 	PIKE	 	SCHUYLKILL	 	WAYNE
	 Indenture
	 	Date of
Rec.	 	 	Book	 	 	Page	 	Date of
Rec.	 	Book	 	 	Page	 	Date of
Rec.	 	Book	 	 	Page	 	Date of
Rec.	 	Book	 	Page
	 Thirty-Fifth Supplemental
	 				 	 	1404	  	 	246	 		 	 	1909	  	 	2328	 		 	 	1413	  	 	1	 		 	1911	 	1
	 Thirty-Sixth Supplemental
	 				 	 	1445	  	 	028	 		 				 		 		 	 	1584	  	 	0259	 		 		 	
	 Thirty-Seventh Supplemental
	 	 	12/30/02	  	 	 	1500	  	 	911	 	12/30/02	 	 	1959	  	 	2447	 	12/27/02	 	 	2022	  	 	1006	 	12/30/02	 	2136	 	148
	 Thirty-Eighth Supplemental
	 	 	11/22/04	  	 	 	1714	  	 	748	 	11/23/04	 	 	2081	  	 	1757	 	11/24/04	 	 	2126	  	 	569	 	11/23/04	 	2658	 	252
	 Thirty-Ninth Supplemental
	 	 	5/18/05	  	 	 	1761	  	 	50
 #200509076
	 	5/17/05	 	 	2109	  	 	2201
 #200500008491
	 	5/18/05	 	 	2150	  	 	1871-1919
 #200500010263
	 	5/16/05	 	Vol.
2769	 	1
 #200500004960

	 Fortieth Supplemental
	 	 	12/2705	  	 	 	1828	  	 	571	 	12/27/05	 	 	2151	  	 	1334	 	12/23/05	 	 	2184	  	 	875	 	12/27/05	 	2944	 	243
	 Forty-first Supplemental
	 	 	1/11/07	  	 	 	1933	  	 	634
 #200700696
	 	1/12/07	 	 	2214	  	 	472-515
 #200700000749
	 	1/11/07	 	 	2238	  	 	798-840
 #200700000686
	 	1/16/07	 	3216	 	229-272
 #200700000492

	 Forty-second Supplemental
	 	 	12/17/07	  	 	 	2024	  	 	953
 #200721572
	 	12/19/07	 	 	2261	  	 	175
 #200700018937
	 	12/18/07	 	 	2285	  	 	473
 #200700022991
	 	12/18/07	 	3433	 	1
#200700013194
	 Forty-third Supplemental
	 	 	12/10/08	  	 	 	Instrument #200819618	 	12/18/08	 	 	2296	  	 	268	 	12/10/08	 	 	2324	  	 	2159	 	12/09/08	 	3633	 	1
 1-45

	 Forty-fourth Supplemental
	 	 	07/14/09	  	 	 	2160	  	 	680
 #200910564
	 	07/14/09	 	 	2313	  	 	2050
 #200900007071
	 	07/10/09	 	 	2344	  	 	842
 #200900009544
	 	07/10/09	 	3777	 	204
 #200900007610

	 Forth-fifth Supplemental
	 	 	11/12/09	  	 	 	Instrument #200917348	 	11/13/09	 	 	2323	  	 	2637	 	11/12/09	 	 	2356	  	 	1104	 	11/12/09	 	3888	 	185
	 Forty-Sixth Supplemental
	 	 	11/08/10	  	 	 	Instrument #201016325	 	11/04/10	 	 	2349	  	 	1850	 	11/08/10	 	 	2386	  	 	2411	 	11/08/10	 	4127	 	9
	 Forty-Seventh Supplemental
	 	 	11/07/12	  	 	 	Instrument #201217185	 	11/06/12	 	 	2402	  	 	2160	 	11/05/12	 	 	2452	  	 	1076	 	11/06/12	 	Instr. #201200008114

  
 B-7 

 ADAMS, CARBON, CUMBERLAND, FOREST, JUNIATA, LACKAWANNA, LUZERNE, MONROE, NORTHAMPTON, SNYDER, SUSQUEHANNA AND
WYOMING COUNTIES 
  

																													
	 	  	ADAMS	  	CARBON	  	CUMBERLAND	 	  	FOREST
	 Indenture
	  	Date of
Rec.	  	Book	 	  	Page	  	Date of
Rec.	  	Book	  	Page	  	Date of
Rec.	  	Book	  	Page	 	  	Date of
Rec.	  	Book	  	Page
	 Thirty-Eighth Supplemental
	  	11/23/04	  	 	3781	  	  	1	  	11/30/04	  	200416309	  		  	11/22/04	  	2004047145	  				  	11/29/04	  	231	  	306
	 Thirty-Ninth Supplemental
	  	5/19/05	  	 	3970	  	  	54	  	5/18/05	  	1330	  	689
 #200505926
	  	5/13/05	  	1907	  	 	0247	  	  	5/16/05	  	234	  	345
 #478

	 Fortieth Supplemental
	  	12/28/05	  	 	4261	  	  	162	  	12/27/05	  	1408	  	576	  	12/27/05	  	1935	  	 	3233	  	  	12/27/05	  	0238	  	0304
	 Forty-first Supplemental
	  	1/11/07	  	 	4707	  	  	2081
 #2007000007
	  	1/12/07	  	1540	  	548
 #200700596
	  	1/11/07	  	1979	  	 	0482	  	  	1/09/07	  	0244	  	0362
 #2007000022

	 Forty-second Supplemental
	  	12/17/07	  	 	5062	  	  	223
 200700023048
	  	12/18/07	  	1650	  	261
 #200715671
	  	12/14/07	  	200746336	  				  	12/18/07	  	250	  	219
 #2007-1339

	 Forty-third Supplemental
	  	12/10/08	  	 	5312	  	  	110
 200800020691
	  	12/11/08	  	1735	  	864
 #7520A3.03
	  	12/11/08	  	200839447	  				  	12/08/08	  	255	  	548
 #200800142

	 Forty-fourth Supplemental
	  	07/13/09	  	 	5390	  	  	643
 200900011159
	  	07/10/09	  	1778	  	883
 #200905920
	  	07/10/09	  	200924123	  				  	07/13/09	  	258	  	466
	 Forty-fifth Supplemental
	  	11/13/09	  	 	5431	  	  	12	  	11/12/09	  	1805	  	605	  	11/13/09	  	200938300	  				  	11/13/09	  	260	  	659
	 Forty-sixth Supplemental
	  	11/09/10	  	 	2010-00011579	  	11/08/10	  	1873	  	355	  	11/08/10	  	201032542	  				  	11/15/10	  	266	  	855
	 Forty-seventh Supplemental
	  	11/07/12	  	 	5764	  	  	83	  	11/05/12	  	2007	  	782	  	11/06/12	  	Instrument #201234441	  	  	11/06/12	  	277	  	671

  
 B-8 

																									
	 	  	JUNIATA	  	LACKAWANNA	  	LUZERNE	  	MONROE
	 Indenture
	  	Date of
Rec.	  	Book	  	Page	  	Date of
Rec.	  	Book	  	Page	  	Date of
Rec.	  	Book	  	Page	  	Date of
Recording	  	Book	  	Page
	 Thirty-Eighth Supplemental
	  	11/22/04	  	345	  	1047	  	11/29/04	  	#200441665	  		  	11/23/04	  	3004	  	294775	  	11/24/04	  	2208	  	7674
	 Thirty-Ninth Supplemental
	  	5/13/05	  	354	  	0049
 #2005-1512
	  	5/16/05	  	#200512642	  		  	5/17/05	  	3005	  	117727
 #5637329
	  	5/18/05	  	2225	  	8444
 #200521128

	 Fortieth Supplemental
	  	12/22/05	  	0365	  	1028	  	12/23/05	  	#20536270	  		  	12/28/05	  	3005	  	349088
 #5677739
	  	12/27/05	  	2252	  	9105
 #200560314

	 Forty-first Supplemental
	  	1/09/07	  	385	  	0188	  	1/12/07	  	#200701277	  		  	1/16/07	  	3007	  	13425	  	11/06/07	  	2320	  	4708
	 Forty-second Supplemental
	  	12/13/07	  	401	  	0847
 #20073981
	  	12/17/07	  	#200734133	  		  	12/17/07	  	3007	  	328532
 #5799531
	  	12/17/07	  	2323	  	4362
 #200745976

	 Forty-third Supplemental
	  	12/08/08	  	418	  	356
 #2008004757
	  	12/11/08	  	#200829528	  		  	12/11/08	  	3008	  	262977
 #5850129
	  	12/08/08	  	2346	  	263
 #200834800

	 Forty-fourth Supplemental
	  	07/13/09	  	428	  	403	  	07/10/09	  	#200917720	  		  	07/14/09	  	3009	  	137259
 #5877023
	  	07/14/09	  	2356	  	6497
 #200917344

	 Forty-fifth Supplemental
	  	11/13/09	  	Instr. #2009003349	  	11/12/09	  	#200928049	  		  	11/12/09	  	3009	  	#225655	  	11/13/09	  	2362	  	5600
	 Forty-sixth Supplemental
	  	11/09/10	  	Instr. # 2010-002859	  	11/05/10	  	2010-22001	  		  	11/12/10	  	3010	  	205710	  	11/08/10	  	2378	  	5023
	 Forty-seventh Supplemental
	  	11/05/12	  	Instrument #201204749	  	11/05/12	  	Instrument
 #201221515
	  	11/5/12	  	3012	  	195945	  	11/07/12	  	2410	  	6678

  
 B-9 

																									
	 	  	NORTHAMPTON	  	SNYDER	  	SUSQUEHANNA	  	WYOMING
	 Indenture
	  	Date of
Rec.	  	Book	  	Page	  	Date of
Rec.	  	Book	  	Page	  	Date of
Rec.	  	Book	  	Page	  	Date of
Rec.	  	Book	  	Page
	 Thirty-Eighth Supplemental
	  	11/22/04	  	2004-1	  	452932	  	11/24/04	  	631	  	0001	  	11/24/04	  	Instr. #200411624	  	11/24/04	  	0513	  	0774
	 Thirty-Ninth Supplemental
	  	5/17/05	  	2005-1	  	182906
 #2005026917
	  	5/17/05	  	650	  	135
 #2005028880
	  	5/16/05	  	Instr. #200504384	  	5/18/05	  	0522	  	1289
	 Fortieth Supplemental
	  	12/23/05	  	2005-1	  	521563	  	12/27/05	  	677	  	684	  	12/22/05	  	Instr. #200512620	  	12/22/05	  	0536
 #2005004922
	  	0748
	 Forty-first Supplemental
	  	1/19/07	  	2007-1	  	25009
 #2007003204
	  	1/11/07	  	724	  	734
 #200700240
	  	1/10/07	  	Instr. #200700387	  	1/10/07	  	0558	  	0959
	 Forty-second Supplemental
	  	12/17/07	  	2007-1	  	446608
 #2007057981
	  	12/18/07	  	763	  	178
 #200707447
	  	12/17/07	  	Instr. #200713519	  	12/18/07	  	#2007	  	5154
	 Forty-third Supplemental
	  	12/09/08	  	2008-1	  	320419	  	12/12/08	  	803	  	217
 #220807546
	  	12/09/08	  	Instr. #200818392	  	12/10/08	  	#2008	  	6990
	 Forty-fourth Supplemental
	  	07/10/09	  	2009-1	  	177314
 #2009024436
	  	07/14/09	  	827	  	786
 #200904115
	  	07/09/09	  	Instr. #200911054	  	07/10/09	  	#2009	  	4233
	 Forty-fifth Supplemental
	  	11/12/09	  	2009-1	  	#284944	  	11/12/09	  		  	#200906458	  	11/13/09	  	Instr. #2009016907	  	11/12/09	  	#2009	  	9004
	 Forty-sixth Supplemental
	  	11/08/10	  	Instr. # 2010034053	  	11/08/10	  	#201006057	  	11/3/10	  	Instr. # 201019526	  	11/03/10	  	2010	  	10427
	 Forty-seventh Supplemental
	  	11/06/12	  	Instr. # 2012035708	  	11/07/12	  	Instr. #201206425	  	11/06/12	  	Instr. #201213685	  	11/06/12	  	2012	  	5064

  
 B-10 

 LEHIGH AND CRAWFORD COUNTIES 
  

											
	 	  	LEHIGH	 	CRAWFORD
	 Indenture
	  	Date of Rec.	  	Book	 	Date of Rec.	  	Book	  	Page
	 Forty-first Supplemental
	  	1/10/07	  	7390692	 	1/11/07	  	856	  	177
 #200700000444

	 Forty-second Supplemental
	  	12/14/07	  	7455854	 	12/14/07	  	905	  	577
 #200700015228

	 Forty-third Supplemental
	  	12/09/08	  	2008001239	 	12/10/08	  	948	  	860
 #200800012935

	 Forty-fourth Supplemental
	  	07/10/09	  	2009027356	 	07/13/09	  	971	  	685
 #200900006196

	 Forty-fifth Supplemental
	  	11/13/09	  	2009044872	 	11/12/09	  	986	  	1277
	 Forty-sixth Supplement
	  	11/10/10	  	2010037955	 	11/16/10	  	1027	  	753
	 Forty-seventh Supplement
	  	11/07/12	  	Instrument #2012-005015	 	11/05/12	  	Instrument # 201200010609

  
 B-11 

 CLARION, VENANGO AND WARREN COUNTIES 

 

																			
	 	  	CLARION	  	VENANGO	  	WARREN
	 Indenture
	  	Date of Rec.	  	Book	  	Page	  	Date of Rec.	  	Book	  	Page	  	Date of Rec.	  	Book	  	Page
	 Forty-third Supplemental
	  		  		  		  		  		  		  		  		  	
	 Forty-fourth Supplemental
	  	07/10/09	  	0790	  	0674
 #2009-3120
	  	07/13/09	  	544	  	184
 #2009003193
	  	07/09/09	  	1921	  	4
 #2009-2683

	 Forty-fifth Supplemental
	  	11/12/09	  	Instr. #2009-5388	  	11/12/09	  	Instr. #2009005802	  	11/13/09	  	1953	  	188
	 Forty-sixth Supplemental
	  	11/08/10	  	Instr. #2010-005233	  	11/05/10	  	597	  	625	  	11/5/10	  	2043	  	94
	 Forty-seventh Supplemental
	  	11/06/12	  	Instrument #2012040499	  	11/07/12	  	Instrument # 2012- 007086	  	11/05/12	  	2234	  	32

  
 B-12 

 EXHIBIT C 
  

											
	 County and

Grantor
	  	Company’s
Real Estate
Index No.	  	Date of
Deed	  	Book	  	Recorded
Page	  	Tax Parcel
I.D. Number

 [See
Attached] 

 EXHIBIT D 

The Original Indenture, redacted to delete property descriptions contained therein for property contained in Adams, Berks, Bradford, Bucks, Carbon, Chester,
Clarion, Columbia, Crawford, Cumberland, Delaware, Forest, Juniata, Lackawanna, Lawrence, Lehigh, Luzerne, Mercer, Monroe, Montgomery, Northampton, Northumberland, Pike, Schuylkill, Snyder, Susquehanna, Venango, Warren, Wayne and Wyoming counties.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00227-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00227-of-00352.parquet"}]]