Document:

EX-10.6

Maximum principal indebtedness for Tennessee recording tax purposes is $12,000,000.00.

DEED OF TRUST, SECURITY AGREEMENT AND FIXTURE FILING

NNN Lenox Medical, LLC,

a Delaware limited liability company,

Grantor

to

Joseph B. Pitt, Jr., as Trustee

(Trustee)

for the benefit of

LaSalle Bank National Association,

a national banking association,

as Beneficiary

PURSUANT TO T.C.A. § 47-28-104(B), NOTICE IS HEREBY GIVEN THAT THIS DEED OF TRUST SECURES FUTURE

ADVANCES WHICH ARE OBLIGATORY FOR THE PURPOSES OF SUCH STATUTE, AND WHICH ARE MADE FOR COMMERCIAL

PURPOSES.

PURSUANT TO T.C.A. § 47-9-502(c), FILING OF THIS DEED OF TRUST CONSTITUTES A FIXTURE FILING.

THE BENEFICIARY EXPRESSLY OBJECTS TO THE PRIORITY OF ANY MECHANICS’ OR MATERIALMEN’S LIENS IMPOSED

SUBSEQUENT TO THE DATE OF THE RECORDATION OF THIS DEED OF TRUST AS SUCH PRIORITY WOULD OTHERWISE BE

ALLOWED PURSUANT TO THE TERMS OF T.C.A. § 66-11-108.

This instrument was prepared by and

after recording return to:

KATTEN MUCHIN ROSENMAN LLP

401 South Tryon Street, Suite 2600

Charlotte, North Carolina 28202

Attention: Daniel S. Huffenus, Esq.

1

DEED OF TRUST, SECURITY AGREEMENT AND FIXTURE FILING

Table of Contents

Paragraph Page

	1.	 	Payment of Indebtedness; Performance of Obligations	 

	2.	 	Taxes and Other Obligations	 

	3.	 	Reserves for Taxes/Ground Rents/Insurance/Replacement Reserve/Tenant Improvements
and Leasing Reserve.	 

	4.	 	Use of Property	 

	5.	 	Insurance and Condemnation.	 

	6.	 	Preservation and Maintenance of Property	 

	7.	 	Protection of Beneficiary’s Security; Leases	 

	8.	 	Inspection	 

	9.	 	Books and Records	 

	10.	 	Financial Statements	 

	11.	 	Hazardous Substances	 

	12.	 	Representations and Covenants.	 

	13.	 	Lease Assignment	 

	14.	 	Subordination, Non-Disturbance and Attornment Agreements/Estoppel Certificates.	 

	15.	 	Transfers of the Property or Ownership Interests in Grantor; Assumption; Due on
Sale/Encumbrance.	 

	16.	 	No Additional Liens	 

	17.	 	Single Asset Entity	 

	18.	 	Grantor and Lien Not Released	 

	19.	 	Uniform Commercial Code Security Agreement and Fixture Filing	 

	20.	 	Events of Default; Acceleration of Indebtedness; Remedies	 

	21.	 	Entry; Foreclosure; Remedies	 

	22.	 	Expenditures and Expenses	 

	23.	 	Application of Proceeds of Foreclosure Sale	 

	24.	 	Appointment of Receiver or Mortgagee in Possession	 

	25.	 	Forbearance by Beneficiary Not a Waiver	 

	26.	 	Waiver of Statute of Limitations	 

	27.	 	Waiver of Appraisement, Valuation, Etc	 

	28.	 	Jury Trial Waiver	 

	29.	 	Indemnification	 

	30.	 	Duty to Defend	 

	31.	 	ERISA	 

	32.	 	No Oral Change	 

	33.	 	Notice	 

	34.	 	Successors and Assigns Bound; Joint and Several Liability; Agents; Captions	 

	35.	 	Governing Law; Jurisdiction; Severability	 

	36.	 	Release	 

	37.	 	Covenants Running with the Land	 

	38.	 	Terms	 

	39.	 	Loss of Note	 

	40.	 	Changes in the Laws Regarding Taxation	 

	41.	 	Substitution of Trustee. Beneficiary may, from time to time by written instrument
executed and acknowledged by Beneficiary and recorded in the county or counties
where the Property is located, and by otherwise complying with the provisions of
any applicable statutes, substitute a successor or successors for the Trustee named
herein or acting hereunder. Any fees or expenses payable to Trustee are the
obligation of Grantor.	 

	42.	 	Exculpation	 

	43.	 	Disclosure of Information	 

	44.	 	Sale of Loan; Securitization	 

	45.	 	Actions and Proceedings	 

	46.	 	No Third Party Beneficiaries	 

	47.	 	Exhibits and Riders	 

	48.	 	Customer Identification – USA Patriot Act Notice; OFAC	 

	49.	 	Counterparts	 

	50.	 	Disclaimers	 

	51.	 	Clearing Account	 

	52.	 	Cash Management Account	 

	53.	 	Concurrent Subordinate Indebtedness	 

	54.	 	Future Advances	 

Exhibit A — Legal Description

Exhibit B — Personal Property Description

Exhibit C — Pending and Threatened Litigation

2

Defined Terms

As used in this Deed of Trust, the following terms shall have the following meanings assigned
to them:

	 	 	 
	Grantor

Grantor’s Address

Property Address

	 	NNN Lenox Medical, LLC (“Grantor”) having its

principal places of business at 1551 N. Tustin

Avenue, Suite 300, Santa Ana, California 92705.

1551 N. Tustin Avenue, Suite 300

Santa Ana, California 92705

6730 Lenox Center Court

Memphis, Tennessee 38115

	 	 	 	 	 
	Trustee
	 	Joseph B. Pitt, Jr.

	Trustee’s
	 	Chicago Title Insurance Company,

	Address
	 	725 Cool Springs Blvd, Suite 160, Franklin, TN  37067

	 	 	 	 	 
	Beneficiary
	 	LaSalle Bank National Association, a national banking association, and its successors and

	 
	 	assigns as holders of the Note

	Beneficiary’s Address
	 	135 S. LaSalle Street, Suite 3410
	 
	 	Chicago, Illinois 60603

	 
	 	Attention: Real Estate Capital Markets

	 
	 	Re: Lenox Medical Office

	Note
	 	That Promissory Note of even date herewith made by Grantor to the order of Beneficiary in

	 
	 	the Principal Amount, together with all notes issued in substitution or exchange therefor,

	 
	 	as any of the foregoing may be amended, consolidated, modified or supplemented from time

	 
	 	to time

	Principal Amount
	 	$	12,000,000.00	 
	Maturity Date
	 	February 1, 2017

	Land
	 	The property described on Exhibit A to this Mortgage

	Personal Property
	 	The property described on Exhibit B to this Mortgage

	Replacement Reserve
Monthly Payment
	 	$1,644.00, subject to the provisions of subparagraph 3(c) of this Mortgage
	TI and Leasing Reserve
Monthly Payment
	 	$8154.50, subject to the provisions of subparagraph 3(d) of this Mortgage
	Permitted Use
	 	Office

	Guarantor
	 	NNN Realty Advisors, Inc., a Delaware corporation

	Pfizer Lease
	 	That certain lease between Pfizer Inc., a Delaware corporation (“Pfizer”), as tenant and

	 
	 	Borrower (or its predecessor in interest), as landlord dated January 11, 2002 (as amended

	 
	 	through the date hereof) for premises located at Building G at, 6730 Lenox Center Court,

	 
	 	Memphis, Tennessee 38115 consisting of approximately 97,854.28 gross square feet (the

	 
	 	“Pfizer Space”) which office building is commonly called The Medical Pavilion.
	Pfizer Reserve Monthly Payment
	 	Shall mean an amount equal to the following: (i) from May 1, 2008 until and including

	 
	 	January 1, 2009, $69,853.00; (ii) from January 1, 2009 until January 30, 2010 or the

	 
	 	Required Balance is met, $73,522.00

	Pfizer Replacement Lease
	 	A lease executed by a replacement tenant or tenants acceptable to Lender covering all or

	 
	 	part of the Pfizer Space (i) at a net annual rent which equals or exceeds $2,134,196.00

	 
	 	and (ii) for a term of not less than five (5) years.

	Required Rating
	 	A General Policy Rating of A: VIII or better in A.M. Best’s Key Rating Guide

3

THIS DEED OF TRUST, SECURITY AGREEMENT AND FIXTURE FILING (“Mortgage”) is made as of the
2nd day of January, 2007, by Grantor to Trustee, and for the benefit of Beneficiary.

R E C I T A L S:

A. Grantor has executed and delivered to Beneficiary the Note (which is hereinafter referred
to as the “Note”), providing for monthly installments of principal and/or interest, with the
balance thereof, if not sooner due or paid as set forth in the Note, due and payable on the
Maturity Date;

B. Beneficiary wishes to secure (i) the prompt payment of the Note, together with all interest
thereon in accordance with the terms of the Note, as well as the prompt payment of any additional
indebtedness accruing to Beneficiary on account of any future payments, advances or expenditures
made by Beneficiary pursuant to the Note or this Deed of Trust or any other agreement, document,
or instrument securing the payment of the indebtedness evidenced by the Note (the Note, this Deed
of Trust, and any other documents evidencing or securing the indebtedness evidenced by the Note or
executed in connection therewith, and any modification, renewal, and/or extension thereof, are
hereinafter collectively referred to as the “Loan Documents”), and (ii) the prompt performance of
each and every covenant, condition, and agreement now or hereafter arising contained in the Loan
Documents of Grantor. All payment obligations of Grantor are hereinafter sometimes collectively
referred to as the “Indebtedness” and all other obligations of Grantor are hereinafter sometimes
collectively referred to as the “Obligations”; and

C. The Schedule of Defined Terms appearing immediately before this page is incorporated into
this Deed of Trust by reference with the same force and effect as if contained in the body hereof.

D. Subsequent to the closing of the “Loan” (as defined in the Note), subject to the terms of
Paragraph 15 of this Deed of Trust, Grantor may transfer undivided tenant in common interests in
the Property (provided, however, there may be no more than thirty-five (35) tenants in common
(“Tenants in Common”) in the aggregate including Grantor (collectively “permitted TICs”) with the
consent of Beneficiary, as more specifically set forth in one or more Loan Assumption, Ratification
and Consent Agreements(s) by and between Grantor, Guarantor, the Tenants in Common and Beneficiary
(individually and collectively, the “Assumption Agreement”), and upon the execution of such
Assumption Agreement, “Grantor” shall thereafter be deemed to collectively include Grantor under
this Deed of Trust and all then existing Tenants in Common.

NOW, THEREFORE, TO SECURE TO BENEFICIARY the repayment of the Indebtedness and the performance
of the Obligations, Grantor has mortgaged, given, granted, bargained, sold, alienated, enfeoffed,
transferred, conveyed, confirmed, warranted, pledged, assigned, hypothecated and granted and by
these presents Grantor has executed this Deed of Trust and does hereby irrevocably mortgage, give,
grant, bargain, sell, alien, enfeoff, transfer, convey, confirm, warrant, pledge, assign,
hypothecate and grant a security interest in and to Trustee, IN TRUST, WITH POWER OF SALE,
Beneficiary the following described property and all proceeds thereof (which property is
hereinafter sometimes collectively referred to as the “Property”):

A. The Land;

B. All improvements of every nature whatsoever now or hereafter situated on the Land and owned
by Grantor (the “Improvements”), and all machinery, furnishings, equipment, fixtures (the
“Fixtures”), mechanical systems and other personal property now or hereafter owned by Grantor and
used in connection with the operation of the Improvements;

C. All easements, rights-of-way, strips and gores of land, streets, ways, alleys, passages,
sewer rights, water, water courses, water rights and powers, air rights and development rights, and
all estates, rights, titles, interests, privileges, liberties, tenements, hereditaments and
appurtenances of any nature whatsoever, in any way belonging, relating or pertaining to the Land
and the Improvements and the reversion and reversions, remainder and remainders, and all land lying
in the bed of any street, road or avenue, opened or proposed, in front of or adjoining the Land, to
the center line thereof and all the estates, rights, titles, interests, dower and rights of dower,
curtesy and rights of curtesy, property, possession, claim and demand whatsoever, both at law and
in equity, of Grantor of, in and to the Land and the Improvements and every part and parcel
thereof, with the appurtenances thereto;

D. All agreements affecting the use, enjoyment or occupancy of the Land and/or Improvements
now or hereafter entered into (the “Leases”), including any and all guaranties of such Leases, and
the immediate and continuing right to collect all rents, income, receipts, royalties, profits,
issues, service reimbursements, fees, accounts receivables, revenues and prepayments of any of the
same from or related to the Land and/or Improvements from time to time accruing under the Leases
and/or the operation of the Land and/or Improvements (the “Rents”), reserving to Grantor, however,
so long as no “Event of Default” (hereinafter defined) has occurred hereunder, a revocable license
to receive and apply the Rents in accordance with the terms and conditions of Paragraph 13 of this
Deed of Trust;

E. The Personal Property;

F. All awards or payments, including interest thereon, which may heretofore and hereafter be
made with respect to the Land and the Improvements, whether from the exercise of the right of
eminent domain or condemnation (including but not limited to any transfer made in lieu of or in
anticipation of the exercise of said rights), or for a change of grade, or for any other injury to
or decrease in the value of the Land and Improvements;

G. All proceeds of and any unearned premiums on any insurance policies covering the Property,
including, without limitation, the right to receive and apply the proceeds of any insurance,
judgments, or settlements made in lieu thereof, for damage to the Property;

H. All proceeds of the conversion, voluntary or involuntary, of any of the foregoing
including, without limitation, proceeds of insurance and condemnation awards, into cash or
liquidation claims;

I. The Clearing Account and Cash Management Account (as those terms are hereinafter defined)
and all deposits therein as hereinafter provided for in this Deed of Trust;

J. Any and all proceeds and products of any of the foregoing and any and all other security
and collateral of any nature whatsoever, now or hereafter given for the repayment of the
Indebtedness and the performance of Grantor’s obligations under the Loan Documents, including
(without limitation) the Replacement Reserve, the TI and Leasing Reserve, and all other escrows
established with Beneficiary by Grantor; and

K. All property management agreements and tenants in common agreements relating to the
Property.

AND without limiting any of the other provisions of this Deed of Trust, to the extent
permitted by applicable law, Grantor expressly grants to Beneficiary, as a secured party, a
security interest in the portion of the Property that is or may be subject to the provisions of the
Uniform Commercial Code that are applicable to secured transactions; it being understood and agreed
that the Improvements and Fixtures are part and parcel of the Land (the Land, the Improvements and
the Fixtures are collectively referred to as the “Real Property”) appropriated to the use thereof
and, whether affixed or annexed to the Real Property or not, shall for the purposes of this Deed of
Trust be deemed conclusively to be real estate and mortgaged hereby.

TO HAVE AND TO HOLD the Property and all parts thereof, together with the rents, issues,
profits and proceeds thereof, unto Beneficiary and to the use, benefit and advantage of
Beneficiary, forever, in Trust, subject, however, to the terms, covenants, and conditions herein.

Grantor covenants and agrees with Trustee and Beneficiary as follows:

1. Payment of Indebtedness; Performance of Obligations. Grantor shall promptly pay
when due the Indebtedness and shall promptly perform all Obligations.

2. Taxes and Other Obligations. Grantor shall pay, when due, and before any interest,
collection fees or penalties shall accrue, all taxes, assessments, fines, impositions and other
charges and obligations, including charges and obligations for any present or future repairs or
improvements made on the Property, or for any other goods or services or utilities furnished to the
Property, which may become a lien on or charge against the Property prior to this Deed of Trust,
subject, however, to Grantor’s right to contest such lien or charge upon the posting of security
reasonably satisfactory to Beneficiary so long as such contest stays the enforcement or collection
of such lien or charge. Should Grantor fail to make such payments, Beneficiary may, at its option
and at the expense of Grantor, pay the amounts due for the account of Grantor. Upon the request of
Beneficiary, Grantor shall immediately furnish to Beneficiary all notices of amounts due and
receipts evidencing payment. Grantor shall promptly notify Beneficiary of any lien on all or any
part of the Property and shall promptly discharge any unpermitted lien or encumbrance.

3. Reserves for Taxes/Ground Rents/Insurance/Replacement Reserve/Tenant Improvements and
Leasing Reserve.

(a) Grantor shall pay to Beneficiary, at the time of and in addition to the monthly
installments of principal and/or interest due under the Note, a sum equal to 1/12 of the
amount estimated by Beneficiary from time to time to be sufficient to enable Beneficiary to
pay at least 30 days before they become due and payable, all taxes, assessments and other
similar charges levied against the Property (collectively, the “Taxes”), and all ground
rents, if applicable. So long as no Event of Default exists hereunder, Beneficiary shall
apply the sums so paid by Grantor to pay such tax items and ground rents, if applicable. In
making any such payments, Beneficiary may do so according to any bill, statement or estimate
obtained by Beneficiary in good faith, without inquiry into the accuracy of such bill,
statement or estimate or into the validity thereof. These sums may be commingled with the
general funds of Beneficiary, and no interest shall be payable thereon nor shall these sums
constitute trust funds. If such amount on deposit with Beneficiary is insufficient to fully
pay such tax items and ground rents, if applicable, Grantor shall, within 10 days following
notice at any time from Beneficiary, deposit such additional sum as may be required for the
full payment of such tax items and ground rents, if applicable. Grantor hereby represents
and warrants that Beneficiary has a security interest in such funds and Grantor shall
execute any other documents and take any other actions necessary to provide Beneficiary with
a perfected security interest. Upon the Maturity Date, the moneys then remaining on deposit
with Beneficiary or its agent shall, at Beneficiary’s option, be applied against the
Indebtedness. The obligation of Grantor to pay such tax items and ground rents is not
affected or modified by the provisions of this paragraph.

(b) Grantor shall pay to Beneficiary, at the time of and in addition to the monthly
installments of principal and/or interest due under the Note, a sum equal to 1/12 of the
amount estimated by Beneficiary from time to time to be sufficient to enable Beneficiary to
pay at least 30 days before they become due and payable, all insurance premiums due for the
renewal, on an annual basis, of the coverage afforded by the insurance policies required
hereunder upon the expiration thereof. So long as no Event of Default exists hereunder,
Beneficiary shall apply the sums so paid by Grantor to pay such insurance premiums. In
making any such payment, Beneficiary may do so according to any bill, statement or estimate
obtained by Beneficiary in good faith, without inquiry into the accuracy of such bill,
statement or estimate or into the validity thereof. These sums may be commingled with the
general funds of Beneficiary, and no interest shall be payable thereon nor shall these sums
constitute trust funds. If such amount on deposit with Beneficiary is insufficient to fully
pay such insurance premiums, Grantor shall, within 10 days following notice at any time from
Beneficiary, deposit such additional sum as may be required for the full payment of such
insurance premiums. Grantor hereby represents and warrants that Beneficiary has a security
interest in such funds and Grantor shall execute any other documents and take any other
actions necessary to provide Beneficiary with a perfected security interest. Upon the
Maturity Date, the moneys then remaining on deposit with Beneficiary or its agent shall, at
Beneficiary’s option, be applied against the Indebtedness. The obligation of Grantor to pay
such insurance premiums is not affected or modified by the provisions of this paragraph.

(c) At the time of and in addition to the monthly installments of principal and/or
interest due under the Note, Grantor shall pay to Beneficiary the Replacement Reserve
Monthly Payment (such payments shall be referred to as the “Replacement Reserve”). The
Replacement Reserve may be commingled with the general funds of Beneficiary and such
Replacement Reserve shall not constitute trust funds. The funds contained in the
Replacement Reserve shall bear interest for the benefit of Grantor at the rate of interest
which is the lower of (i) the amount paid from time to time by Beneficiary on commercial
money market accounts; or (ii) the return on permitted investments to be made with the funds
by any third party servicer, rating agency or loan purchaser (“Reserve Interest Rate”), and
all such interest shall be added to and become part of the Replacement Reserve, provided
Beneficiary shall make no representation or warranty as to the actual rate of interest. The
funds contained in the Replacement Reserve shall be utilized by Grantor solely for exterior,
structural, HVAC and mechanical improvements that are customarily accounted for as capital
expenses (“Capital Expenses”), and other capital improvements approved in advance by
Beneficiary. Beneficiary shall make disbursements from the Replacement Reserve for the
actual cost of such items and approved capital improvements upon Grantor’s providing
Beneficiary with receipts, invoices, lien waivers, photographs and other documentation
deemed necessary by Beneficiary to insure that the work and/or materials related to the
requested disbursement have been completed and/or provided, with minimum draws of
$10,000.00, which shall occur no more frequently than once per month. Upon the Maturity
Date, the moneys then remaining on deposit with Beneficiary or its agent shall, at
Beneficiary’s option, be applied against the Indebtedness. Grantor hereby represents and
warrants that Beneficiary has a security interest in the Replacement Reserve and Grantor
shall execute any other documents and take any other actions necessary to provide
Beneficiary with a perfected security interest in the Replacement Reserve.

(d) At the time of and in addition to the monthly installments interest due under the
Note, Grantor shall pay to Beneficiary monthly deposits in the amount of the TI and Leasing
Reserve Monthly Payment for approved tenant improvements and leasing commissions. At the
time of and in addition to the monthly installments of principal and/or interest due under
the Note, Grantor shall pay to Beneficiary the Pfizer Reserve Monthly Payment (such
payments, along with the TI and Leasing Reserve Monthly Payment shall be referred to as the
“TI and Leasing Reserve”) until the earlier of (i) January 31, 2010 or (ii) the balance in
the TI and Leasing Reserve equals or exceeds $1,467,810.00 (the “Required Balance”).
Provided no Event of Default has occurred, the amount in the TI and Leasing Reserve in
excess of $97,854.00 (the “Stabilized Requirement”) shall be disbursed to Borrower (i) if
the Pfizer Lease is renewed or (ii) following vacation of the Pfizer Space by Pfizer, but
only after: (A) Lender shall have approved a Pfizer Replacement Lease and shall have
received a fully-executed copy of such Pfizer Replacement Lease; (B) Borrower has provided
an executed estoppel certificate satisfactory to Lender from such replacement tenant or
tenants stating that such replacement tenant or tenants are in occupancy, open for business,
and paying full contractual rent without any right of offset or rent abatement and that all
related tenant improvement and leasing commission obligations of Borrower, as landlord,
under the Pfizer Replacement Lease have been satisfied; (C) Borrower provides Lender with
receipts, invoices, lien waivers, photographs and other documentation deemed necessary by
Lender to insure that the work and/or materials requested have been completed and/or
provided; (D) Borrower has provided evidence that the work is fully completed in a good and
workmanlike manner free of all liens or claims by reason thereof; and (E) satisfaction of
any other terms and conditions that Lender may require in its reasonable discretion (the
“Release Requirements”). Upon satisfaction of the Release Requirements, the TI and Leasing
Reserve may be commingled with the general funds of Beneficiary and such TI and Leasing
Reserve shall not constitute trust funds. The funds contained in the TI and Leasing Reserve
shall bear interest for the benefit of Grantor at the Reserve Interest Rate and all such
interest shall be added to and become a part of the TI and Leasing Reserve, provided
Beneficiary shall make no representation or warranty as to the actual rate of interest. The
funds contained in the TI and Leasing Reserve shall be disbursed to Grantor solely to pay
for tenant improvements and leasing commissions due pursuant to leases entered into in
accordance with the requirements of Paragraph 7 hereof or otherwise approved by Beneficiary,
but only when the tenants under such leases are in occupancy, open for business, and paying
full contractual rent without any right of offset or rent abatement. Beneficiary shall make
disbursements from the TI and Leasing Reserve for the actual cost of such approved tenant
improvements and leasing commissions upon Grantor’s providing Beneficiary with receipts,
invoices, lien waivers, photographs and other documentation deemed necessary by Beneficiary
to insure that the work and/or materials related to the requested disbursement have been
completed and/or provided, with minimum draws of $10,000.00, which shall occur no more
frequently than once per month. Upon the Maturity Date, the moneys then remaining on
deposit with Beneficiary or its agent shall, at Beneficiary’s option, be applied against the
Indebtedness. Grantor hereby represents and warrants that Beneficiary has a security
interest in the TI and Leasing Reserve and shall execute any other documents and take any
other actions necessary to provide Beneficiary with a perfected security interest in the TI
and Leasing Reserve.

In the event that (i) the Loan is not fully transferred to and assumed by NNN
Healthcare/Office REIT Holdings, L.P., a Delaware Limited Partnership (the “REIT”) or to a
newly formed entity that is owned and controlled by the REIT, or (ii) the membership
interests in Grantor are not transferred to the REIT or to a newly formed entity that is
owned and controlled by the REIT, on or before April 30, 2007, the following conditions must
be satisfied; (i) the Required Balance will immediately increase to $1,957,080, (ii) Grantor
will within three (3) Business Days make a payment of $489,270.00 into the TI and Leasing
Reserve and (iii) Grantor will within ten (10) Business Days fully satisfy and pay off any
and all additional debt on the Property and cause to be released any and all liens
associated with the additional debt.

Notwithstanding the foregoing, without waiving any of Grantor’s repair and maintenance obligations
under the Loan Documents, Beneficiary agrees to defer its right under this Deed of Trust to require
monthly deposits of the TI and Leasing Reserve Monthly Payment into the TI and Leasing Reserve
until the Release Requirements are met as long as there exists no Event of Default (or event with
which notice or lapse of time or both could constitute an Event of Default) under the Loan
Documents. Notwithstanding the foregoing, without waiving any of Grantor’s repair and maintenance
obligations under the Loan Documents, Beneficiary agrees to defer its right under this Deed of
Trust to require monthly deposits of the Pfizer Reserve Monthly Payment into the TI and Leasing
Reserve for a period of sixteen (16) months from the date hereof as long as there exists no Event
of Default (or event with which notice or lapse of time or both could constitute an Event of
Default) under the Loan Documents.

(e) Upon the occurrence of an Event of Default, Beneficiary may apply any amounts then
held in any of the Reserves described above to the payment of the Indebtedness in such order
as Beneficiary may elect, in its sole and absolute discretion.

4. Use of Property. Unless required by applicable law, Grantor shall not permit
changes in the use of any part of the Property from the use existing at the time this Deed of Trust
was executed, which use Grantor represents and warrants is limited to the Permitted Use and related
uses. Grantor shall not initiate or acquiesce in a change in the zoning classification of the
Property without Beneficiary’s prior written consent.

5. Insurance and Condemnation. Grantor shall obtain and maintain, or cause to be
maintained, insurance for Grantor and the Property providing at least the following coverages:

(a) comprehensive all risk insurance (“Special Form”) including, but not limited to,
loss caused by any type of windstorm or hail on the Improvements and the Personal Property,
(i) in an amount equal to one hundred percent (100%) of the “Full Replacement Cost,” which
for purposes of this Deed of Trust shall mean actual replacement value (exclusive of costs
of excavations, foundations, underground utilities and footings) with a waiver of
depreciation, but the amount shall in no event be less than the outstanding principal
balance of the Loan; (ii) containing an agreed amount endorsement with respect to the
Improvements and Personal Property waiving all co-insurance provisions or to be written on a
no co-insurance form; (iii) providing for no deductible in excess of Ten Thousand and 00/100
Dollars ($10,000.00) for all such insurance coverage excluding windstorm and earthquake, and
(iv) if any of the Improvements or the use of the Property shall at any time constitute
legal non-conforming structures or uses, coverage for loss due to operation of law in an
amount equal to the Full Replacement Cost, coverage for demolition costs and coverage for
increased costs of construction. In addition, Grantor shall obtain: (A) if any portion of
the Improvements is currently or at any time in the future located in a federally designated
“special flood hazard area”, flood hazard insurance in an amount equal to the lesser of (1)
the outstanding principal balance of the Note or (2) the maximum amount of such insurance
available under the National Flood Insurance Act of 1968, the Flood Disaster Protection Act
of 1973 or the National Flood Insurance Reform Act of 1994, as each may be amended or such
greater amount as Beneficiary shall require and (B) earthquake insurance in amounts and in
form and substance satisfactory to Beneficiary in the event the Property is located in an
area with a high degree of seismic activity;

(b) business income insurance (i) with loss payable to Beneficiary; (ii) covering all
risks required to be covered by the insurance provided for in subparagraph (a) above; (iii)
in an amount equal to one hundred percent (100%) of the projected gross revenues from the
operation of the Property (as reduced to reflect expenses not incurred during a period of
restoration or repair) for a period of at least twelve (12) months after the date of the
loss or damage by fire or other casualty; and (iv) containing an extended period of
indemnity endorsement which provides that after the physical loss to the Improvements and
Personal Property has been repaired, the continued loss of income will be insured until such
income either returns to the same level it was at prior to the loss, or the expiration of
six (6) months from the date that the Property is repaired or replaced and operations are
resumed, whichever first occurs, and notwithstanding that the policy may expire prior to the
end of such period. The amount of such business income insurance shall be determined prior
to the date hereof and at least once each year thereafter based on Grantor’s reasonable
estimate of the gross revenues from the Property for the succeeding twelve (12) month
period. All proceeds payable to Beneficiary pursuant to this subsection shall be held by
Beneficiary and shall be applied to the obligations secured by the Loan Documents from time
to time due and payable hereunder and under the Note; provided, however, that nothing herein
contained shall be deemed to relieve Grantor of its obligations to pay the obligations
secured by the Loan Documents on the respective dates of payment provided for in this Deed
of Trust and the other Loan Documents except to the extent such amounts are actually paid
out of the proceeds of such business income insurance;

(c) at all times during which structural construction, repairs or alterations are being
made with respect to the Improvements, and only if the Property coverage form does not
otherwise apply, (i) owner’s contingent or protective liability insurance, otherwise known
as Owner Contractor’s Protective Liability, covering claims not covered by or under the
terms or provisions of the above mentioned commercial general liability insurance policy and
(ii) the insurance provided for in subparagraph (a) above written in a so-called builder’s
risk completed value form (A) on a non-reporting basis, (B) against all risks insured
against pursuant to subparagraph (a) above, (C) including permission to occupy the Property
and (D) with an agreed amount endorsement waiving co-insurance provisions;

(d) comprehensive boiler and machinery insurance, if steam boilers or other
pressure-fixed vessels are in operation, in amounts as shall be reasonably required by
Beneficiary on terms consistent with the commercial property insurance policy required under
subparagraph (a) above;

(e) commercial general liability insurance against claims for personal injury, bodily
injury, death or property damage occurring upon, in or about the Property, such insurance
(i) to be on the so-called “occurrence” form with a combined limit of not less than Two
Million and 00/100 Dollars ($2,000,000.00) in the aggregate and One Million and 00/100
Dollars ($1,000,000.00) per occurrence; (ii) to continue at not less than the aforesaid
limit until required to be changed by Beneficiary in writing by reason of changed economic
conditions making such protection inadequate and (iii) to cover at least the following
hazards: (A) premises and operations; (B) products and completed operations on an “if any”
basis; (C) independent contractors; (D) blanket contractual liability for all written
contracts and (E) contractual liability covering the indemnities contained in Paragraph 29
of this Deed of Trust to the extent the same is available;

(f) automobile liability coverage for all owned and non-owned vehicles, including
rented and leased vehicles containing minimum limits per occurrence of One Million Dollars
and 00/100 Dollars ($1,000,000.00);

(g) worker’s compensation and employee’s liability subject to the worker’s compensation
laws of the applicable state;

(h) umbrella and excess liability insurance in an amount not less than Three Million
and 00/100 Dollars ($3,000,000.00) per occurrence on terms consistent with the commercial
general liability insurance policy required under subparagraph (e) above, including, but not
limited to, supplemental coverage for employer liability and automobile liability, which
umbrella liability coverage shall apply in excess of the automobile liability coverage in
subparagraph (f) above;

(i) the insurance required under this Paragraph 5 above shall cover perils of terrorism
and acts of terrorism and Grantor shall maintain insurance for loss resulting from perils
and acts of terrorism on terms (including amounts) consistent with those required under
Paragraph 5 above at all times during the term of the Loan; and

(j) upon sixty (60) days written notice, such other reasonable insurance, including,
but not limited to, sinkhole or land subsidence insurance, if available at commercially
reasonable costs, and in such reasonable amounts as Beneficiary from time to time may
reasonably request against such other insurable hazards which at the time are commonly
insured against for property similar to the Property located in or around the region in
which the Property is located.

All insurance provided for in this Paragraph 5, shall be obtained under valid and enforceable
policies (collectively, the “Policies” or in the singular, the “Policy”), and shall be subject to
the approval of Beneficiary as to insurance companies, amounts, deductibles, loss payees and
insureds. The Policies shall be issued by financially sound and responsible insurance companies
authorized to do business in the State and having a claims paying ability rating of “AA” or better
(and the equivalent thereof) by at least two (2) of the rating agencies rating the Securities (one
(1) of which shall be S&P if they are rating the Securities and one (1) of which will be Moody’s if
they are rating the Securities), or if only one (1) rating agency is rating the Securities, then
only by such rating agency. The Policies described in this Paragraph 5 (other than those strictly
limited to liability protection) shall designate Beneficiary as loss payee. Not less than ten (10)
days prior to the expiration dates of the Policies theretofore furnished to Beneficiary,
certificates of insurance evidencing the Policies accompanied by evidence satisfactory to
Beneficiary of payment of the premiums due thereunder (the “Insurance Premiums”), shall be
delivered by Grantor to Beneficiary. Any blanket insurance Policy shall specifically allocate to
the Property the amount of coverage from time to time required hereunder and shall otherwise
provide the same protection as would a separate Policy insuring only the Property in compliance
with the provisions of this Paragraph 5. All Policies provided for or contemplated by this
Paragraph 5, except for the Policy referenced in Paragraph 5(g) of this Deed of Trust, shall name
Grantor as the insured and Beneficiary as the additional insured, as its interests may appear, and
in the case of property damage, boiler and machinery, flood and earthquake insurance, shall contain
a so-called New York standard non-contributing mortgagee clause in favor of Beneficiary providing
that the loss thereunder shall be payable to Beneficiary. All Policies shall contain clauses or
endorsements to the effect that: (1) no act or negligence of Grantor, or anyone acting for Grantor,
or of any tenant or other occupant, or failure to comply with the provisions of any Policy, which
might otherwise result in a forfeiture of the insurance or any part thereof, shall in any way
affect the validity or enforceability of the insurance insofar as Beneficiary is concerned; (2) the
Policy shall not be materially changed (other than to increase the coverage provided thereby) or
canceled without at least ten (10) days written notice to Beneficiary and any other party named
therein as an additional insured; (3) the issuers thereof shall give written notice to Beneficiary
if the Policy has not been renewed thirty (30) days prior to its expiration; and (4) Beneficiary
shall not be liable for any Insurance Premiums thereon or subject to any assessments thereunder.

Grantor shall keep the Improvements insured, and shall maintain during the entire term of this
Deed of Trust, comprehensive general liability coverage and such other coverages requested by
Beneficiary, by carrier(s), in amounts and in form at all times satisfactory to Beneficiary, which
carrier(s), amounts and form shall not be changed without the prior written consent of Beneficiary.
All such policies of insurance shall be issued by insurers qualified under the laws of the state
in which the Land is located, duly authorized and licensed to transact business in such state and
reflecting the Required Rating. Grantor shall maintain all coverages on the Property as are
required by Beneficiary at the closing of the Loan, and all other coverages as may be deemed
necessary by Beneficiary from time to time during the term of the Loan. Any failure by Beneficiary
to insist on full compliance with all of the above insurance requirements at closing does not
constitute a waiver of Beneficiary’s right to subsequently require full compliance with these
requirements. All policies required hereunder shall be indicated by evidence of insurance on the
Accord 28 form of certificate (as such form may be updated and renamed from time to time), naming
Beneficiary as loss payee and as additional insured. Unless Grantor provides Beneficiary with
evidence of the insurance coverage required by this Deed of Trust, Beneficiary may purchase
insurance at Grantor’s expense to protect Beneficiary’s interests in the Property and to maintain
the insurance required by this Deed of Trust. This insurance may, but need not, protect Grantor’s
interests. The coverage purchased by Beneficiary may not pay any claim made by Grantor or any
claim that is made against Grantor in connection with the Property or any required insurance
policy. Grantor may later cancel any insurance purchased by Beneficiary, but only after providing
Beneficiary with evidence that Grantor has obtained insurance as required by this Deed of Trust.
If Beneficiary purchases insurance for the Property or insurance otherwise required by this Deed of
Trust, Grantor will be responsible for the costs of that insurance, including interest and other
charges imposed by Beneficiary in connection with the placement of the insurance, until the
effective date of the cancellation or expiration of the insurance. The costs of the insurance may
be added to the Indebtedness. The costs of the insurance may be more than the cost of insurance
Grantor is able to obtain on its own.

In case of loss or damage by fire or other casualty, Grantor shall give immediate written
notice thereof to the insurance carrier(s) and to Beneficiary. Beneficiary is authorized and
empowered to make or file proofs of loss or damage (in each case only so long as such loss or
damage is equal to or greater than $120,000.00 and to settle and adjust any claim under insurance
policies which insure against such risks, or to direct Grantor, in writing, to agree with the
insurance carrier(s) on the amount to be paid in regard to such loss. The proceeds of any
insurance claim are hereby assigned to and shall be paid to Beneficiary as further security for the
payment of the Indebtedness and performance of the Obligations and applied as set forth herein.

Grantor shall immediately notify Beneficiary of any action or proceeding relating to any
condemnation or other taking, whether direct or indirect, of the Property, or part thereof, and
Grantor shall appear in and prosecute any such action or proceeding unless otherwise directed by
Beneficiary in writing. Grantor authorizes Beneficiary, at Beneficiary’s option, as
attorney-in-fact for Grantor, to commence, appear in and prosecute, in Beneficiary’s or Grantor’s
name, any action or proceeding relating to any condemnation or other taking of the Property,
whether direct or indirect, and to settle or compromise any claim in connection with such
condemnation or other taking, provided such claim is for an amount equal to or greater than
$120,000.00. The proceeds of any award, payment or claim for damages, direct or consequential, in
connection with any condemnation or other taking, whether direct or indirect, of the Property, or
part thereof, or for conveyances in lieu of condemnation, are hereby assigned to and shall be paid
to Beneficiary as further security for the payment of the Indebtedness and performance of the
Obligations and applied as set forth herein.

Provided no Event of Default then exists hereunder, the net insurance proceeds and net
proceeds of any condemnation award (in each case after deducting only Beneficiary’s reasonable
costs and expenses, if any, in collecting the same) shall be made available for the restoration or
repair of the Property if, in Beneficiary’s sole judgment (a) restoration or repair and the
continued operation of the Property is economically feasible, as determined by Beneficiary, (b) the
value of Beneficiary’s security is not reduced, (c) the loss or condemnation, as applicable, does
not occur in the 6-month period preceding the stated Maturity Date and Beneficiary’s independent
consultant certifies that the restoration of the Property can be completed at least 90 days prior
to the Maturity Date, and (d) Grantor deposits with Beneficiary an amount, in cash, which
Beneficiary, in its sole discretion, determines is necessary, in addition to the net insurance
proceeds or net proceeds of any condemnation award, as applicable, to pay in full the cost of the
restoration or repair, including the cost to carry the Property and make all required payments due
under the Loan during the period of restoration or repair. Notwithstanding the foregoing, it shall
be a condition precedent to any disbursement of insurance proceeds held by Beneficiary hereunder
that Beneficiary shall have approved (x) all plans and specifications for any proposed repair or
restoration, (y) the construction schedule and (z) the architect’s and general contractor’s
contract for all restoration that exceeds $25,000.00 in the aggregate. Beneficiary may establish
other conditions it deems reasonably necessary to assure the work is fully completed in a good and
workmanlike manner free of all liens or claims by reason thereof. Grantor’s deposits made pursuant
to this paragraph shall be used before the net insurance proceeds or net proceeds of any
condemnation award, as applicable, for such restoration or repair. If the net insurance proceeds
or net proceeds of any condemnation award, as applicable, are made available for restoration or
repair, such work shall be completed by Grantor in an expeditious and diligent fashion, and in
compliance with all applicable laws, rules and regulations. At Beneficiary’s option, the net
insurance proceeds or net proceeds of any condemnation award, as applicable, shall be disbursed
pursuant to a construction escrow acceptable to Beneficiary. If following the final payments for
the completion of such restoration or repair there are any net insurance proceeds or net proceeds
of any condemnation award, as applicable, remaining, such proceeds shall be paid (i) to Grantor to
the extent Grantor was required to make a deposit pursuant to this paragraph, (ii) then to fund any
shortfall in the Replacement Reserve, (iii) then to Beneficiary to be applied to the Indebtedness,
whether or not due and payable until paid in full, and (iv) then to Grantor. If an Event of
Default then exists, or any of the conditions set forth in subparagraphs (a) through (d) of this
Paragraph 5 have not been met or satisfied, the net insurance proceeds or net proceeds of any
condemnation award, as applicable, shall be applied to the Indebtedness, whether or not due and
payable, with any excess paid to Grantor.

6. Preservation and Maintenance of Property. Grantor (a) shall not commit waste or
permit impairment or deterioration of the Property; (b) shall not abandon the Property; (c) shall
keep the Property in good repair and restore or repair promptly, in a good and workmanlike manner,
all or any part of the Property to the equivalent of its original condition, ordinary wear and tear
excepted, or such other condition as Beneficiary may approve in writing, upon any damage or loss
thereto, if net insurance proceeds are made available to cover in whole or in part the costs of
such restoration or repair; (d) shall comply with all laws, ordinances, regulations and
requirements of any governmental body, and all requirements of any documents applicable to the
Property; (e) shall provide for management of the Property by Grantor or by a property manager
satisfactory to Beneficiary pursuant to a contract in form and substance satisfactory to
Beneficiary; (f) shall not take any steps whatsoever to convert the Property, or any portion
thereof, to a condominium or cooperative form of management; (g) shall not install or permit to be
installed on the Property any underground storage tank or above-ground storage tank without the
written consent of Beneficiary; and (h) shall give notice in writing to Beneficiary of and, unless
otherwise directed in writing by Beneficiary, appear in and defend any action or proceeding
purporting to affect the Property, the security granted by the Loan Documents or the rights or
powers of Beneficiary. Neither Grantor nor any tenant or other person shall remove, demolish or
alter any Improvement or any Fixture, equipment, machinery or appliance in or on the Land and owned
or leased by Grantor except when incident to the replacement of Fixtures, equipment, machinery and
appliances with items of like kind.

7. Protection of Beneficiary’s Security; Leases. If Grantor fails to pay the
Indebtedness or perform the Obligations, or if any action or proceeding is commenced which affects
the Property, the Trustee or Beneficiary, at Beneficiary’s option, Beneficiary may make such
appearances, disburse such sums and take such action as Beneficiary deems necessary, in its sole
discretion, to protect the Property or Beneficiary’s or Trustee’s respective interests herein,
including entry upon the Property to make repairs and perform environmental tests and studies. Any
amounts disbursed by Beneficiary pursuant to this Paragraph 7 (including attorneys’ costs and
expenses), with interest thereon at the “Default Rate” (defined in the Note) from the date of
disbursement, shall become additional Indebtedness of Grantor secured by the Loan Documents and
shall be due and payable on demand. Nothing contained in this Paragraph 7 shall require
Beneficiary to incur any expense or take any action hereunder.

Grantor shall not be authorized to enter into any ground lease of the Property, without
Beneficiary’s prior written approval. Grantor shall not, without Beneficiary’s prior written
consent, modify, amend, surrender or terminate any Lease, which approval shall not be unreasonably
withheld or delayed. All Leases of space in the Property shall be on the form of lease previously
approved by Beneficiary with tenants and for a use acceptable to Beneficiary. All Leases of space
in the Property executed or renewed after the date hereof must be approved by Beneficiary prior to
the execution thereof by Grantor.

Notwithstanding anything contained herein to the contrary, Grantor may enter into a proposed
Lease (including the amendment, renewal or extension of an existing Lease (a “Renewal Lease”)
without the prior written consent of Beneficiary, provided such proposed Lease or Renewal Lease (i)
provides for rental rates and terms comparable to existing local market rates and terms (taking
into account the type and quality of the tenant) as of the date such Lease or Renewal Lease is
executed by Grantor (unless, in the case of a Renewal Lease, the rent payable during such renewal,
or a formula or other method to compute such rent, is provided for in the original Lease), (ii) is
an arms-length transaction with a bona fide, independent third party tenant, (iii) is written on
the standard form of lease previously approved by Beneficiary, (iv) is not for premises greater
than or ten percent (10%) of the gross leaseable area of the Property, (v) is not for a rental
greater than or equal to ten percent (10%) of the total gross rental revenues of the Property; (vi)
shall have an initial term of not less than three (3) years or greater than ten (10) years, (vii)
is for the same use as the current use of the Property, (viii) shall not contain any options for
renewal or expansion by the tenant thereunder at rental rates which are either below comparable
market levels or less than the rental rates paid by the tenant during initial lease term; and (ix)
shall be to a tenant which is experienced, creditworthy and reputable. If Beneficiary consents to
any new Lease of space in the Property or the renewal of any existing Lease of space in the
Property, at Beneficiary’s request, Grantor shall cause the tenant thereunder to execute a
subordination and attornment agreement in form and substance satisfactory to Beneficiary
contemporaneously with the execution of such Lease. Grantor expressly understands that any and all
new or proposed leases or Renewal Leases are included in the definition of “Lease” or “Leases” as
such terms may be used throughout this Deed of Trust or any of the other Loan Documents.
Notwithstanding anything contained herein to the contrary, Grantor may terminate a Lease without
Beneficiary’s request in the ordinary course of business if (a) the related tenant is in default
and (b) either (x) such Lease is for less than ten percent (10%) of the then currently occupied and
rentable square feet of space at the Property, or (y) Grantor has executed a lease with a
replacement tenant for the premises in question. To the extent Beneficiary’s consent is required
under this Paragraph 7, and the lease in question is for less than 25% of both the gross leaseable
area of the Property and the total gross rental revenues of the Property, Grantor shall submit a
request to Beneficiary with the following language prominently displayed at the top and on the
cover of any such request in allcaps, boldface, 14 point type or larger: “IMMEDIATE RESPONSE
REQUIRED, CONSENT DEEMED GIVEN IF NO RESPONSE WITHIN 10 BUSINESS DAYS.” If no response has been
received within 10 Business Days of Beneficiary’s receipt of such request, Grantor shall submit a
second request to Beneficiary with the following language prominently displayed at the top and on
the cover of any such request in allcaps, boldface, 14 point type or larger: “IMMEDIATE RESPONSE
REQUIRED, CONSENT DEEMED GIVEN IF NO RESPONSE WITHIN 5 BUSINESS DAYS.” If no response has been
received within 5 Business Days of Beneficiary’s receipt of such second request, Beneficiary’s
consent shall be deemed to be given.

If at the time one or more Disclosure Documents (as hereinafter defined) are being prepared
for a securitization and if requested by Beneficiary, Grantor shall furnish, or shall cause the
applicable tenant to furnish, to Beneficiary financial data and/or financial statements in
accordance with Regulation AB (as defined in Item 1101(k) of Regulation AB) for any tenant of any
Property if, in connection with a securitization, Beneficiary reasonably expects there to be, with
respect to such tenant or group of affiliated tenants, a concentration within all of the Deed of
Trust loans included or reasonably expected to be included, as applicable, in such securitization
such that such tenant or group of affiliated tenants would constitute a Significant Obligor (as
defined in Item 1101(k)); provided, however, that in the event the related lease does not require
the related tenant to provide the foregoing information, Grantor shall use commercially reasonable
efforts to cause the applicable tenant to furnish such information, provided however, that Grantor
shall be in default hereunder only for failure to use commercially reasonable efforts to cause such
tenant to furnish such information.

8. Inspection. Beneficiary and its agents and designees may make or cause to be made
reasonable entries upon and inspections of the Property, including for performing any environmental
inspections and testing of the Property, and inspections of Grantor’s books, records, and contracts
at all reasonable times upon reasonable advance notice, which notice may be given in writing or
orally. Grantor shall cooperate with Beneficiary and its agents and designees with respect to all
such inspections, including any related to the sale or potential sale of all or any portion of the
Loan by Beneficiary and any securitization or potential securitization involving the Loan.

9. Books and Records. Grantor shall keep and maintain at all times at Grantor’s
address stated above, or such other place as Beneficiary may approve in writing, complete and
accurate books of accounts and records adequate to reflect correctly the results of the operation
of the Property and copies of all written contracts, Leases and other instruments affecting the
Property.

10. Financial Statements. If required by Beneficiary, Grantor shall furnish to
Beneficiary, within 60 days after the end of each calendar month, until the later to occur of
either (i) the first 12 calendar months following the closing of the loan (the “Loan”) evidenced by
the Note, or (ii) the Loan is securitized as described in Paragraph 43 below, a monthly unaudited
(a) statement of income and expenses, each in reasonable detail, prepared on a consistent, cash/tax
basis in accordance with sound accounting practices (relating to the real estate industry) or in
accordance with generally accepted accounting principles and certified as true and complete by
Grantor or its general partner, manager/managing member or chief financial officer, and (b) a rent
roll showing the name of each tenant, and for each tenant, (i) the space occupied, (ii) the lease
expiration date, (iii) the rent payable, and (iv) the security deposit being held for such tenant,
each in reasonable detail and dated and certified as true and complete by Grantor or its general
partner or chief financial officer. If required by Beneficiary, Grantor shall furnish to
Beneficiary, within 60 days after the end of each fiscal quarter of the operation of the business
of Grantor and at any other time upon Beneficiary’s request, an unaudited (a) balance sheet, (b) a
statement of income and expenses of the Property, and (c) a list of aged accounts receivables, each
in reasonable detail, prepared on a consistent, cash/tax basis in accordance with sound accounting
practices (relating to the real estate industry) or in accordance with generally accepted
accounting principles prepared on a consistent basis and certified as true and complete by Grantor
or its general partner, manager/managing member or chief financial officer. If required by
Beneficiary, Grantor shall also furnish to Beneficiary, and shall cause each Guarantor (as defined
in the Note) to furnish to Beneficiary, within 60 days after the end of each fiscal year of
Grantor, an unaudited (a) balance sheet, (b) a statement of income and expenses and (c) a statement
of cash flows, each in reasonable detail, prepared on a consistent, cash/tax basis in accordance
with sound accounting practices (relating to the real estate industry) or in accordance with
generally accepted accounting principles prepared on a consistent basis and certified as true and
complete by Grantor or its general partner, manager/managing member or chief financial officer and
each Guarantor, as the case may be. In the event that the Loan has an original principal balance
equal to or greater than $20,000,000.00 such annual financial statements shall be audited by an
independent certified public accountant. If Beneficiary requires audited GAAP-compliant financial
statements of Guarantor, Guarantor will provide such financial statements to Beneficiary within 120
days of Guarantor’s fiscal year-end or within 20 days of the filing of its returns with the
Internal Revenue Service. All of the information required by Beneficiary in this paragraph must be
in a form acceptable to Beneficiary in its absolute and sole discretion. If Grantor fails to
timely furnish Beneficiary with any of the financial information and reports set forth in this
paragraph within the required time periods, Beneficiary shall have the right, acting in its sole
discretion, to hire a certified public accounting firm acceptable to Beneficiary, to prepare such
financial information and reports, on an audited basis. The costs and expenses of such accounting
firm shall be paid by Grantor on demand and, to the extent advanced by Beneficiary become, with
interest thereon from the date advanced by Beneficiary at the Default Rate, additional Indebtedness
of Grantor secured by the Loan Documents. Additionally, if Grantor fails to timely furnish
Beneficiary with any of the financial information and reports set forth in this paragraph within
the required time periods, Beneficiary shall be entitled to receive a late charge equal to $500.00
for each financial information and/or report not so furnished to Beneficiary (the “Financial Late
Charge”). The Financial Late Charge shall be due and payable by Grantor immediately upon receipt
by Grantor of an invoice for same from Beneficiary. Until paid, the Financial Late Charge shall
bear interest at the Default Rate, and shall be deemed additional Indebtedness of Grantor secured
by the Loan Documents.

If, at the time one or more Disclosure Documents are being prepared for a securitization,
Beneficiary reasonably expects that Grantor alone or Grantor and one or more affiliates of Grantor
collectively, or the Property alone or the Property and any other parcel(s) of real property,
together with improvements thereon and personal property related thereto, that is “related”, within
the meaning of the definition of Significant Obligor of Regulation AB), to the Property (a “Related
Property”) collectively, will be a Significant Obligor, Grantor shall furnish to Beneficiary upon
request (i) the selected financial data as required under Item 1112(b)(1) of Regulation AB, if
Beneficiary reasonably expects that the principal amount of the Loan, together with any loans made
to an affiliate of Grantor or secured by a Related Property that is included in a securitization
with the Loan (a “Related Loan”), as of the cut-off date for such securitization may, or if the
principal amount of the Loan together with any Related Loans as of the cut-off date for such
securitization and at any time during which the Loan and any Related Loans are included in a
securitization does, equal or exceed ten percent (10%) of the aggregate principal amount of all
Deed of Trust loans included or reasonably expected to be included, as applicable, in the
securitization or (ii) the financial statements as required under Item 1112(b)(2) of Regulation AB,
if Beneficiary reasonably expects that the principal amount of the Loan together with any Related
Loans as of the cut-off date for such securitization may, or if the principal amount of the Loan
together with any Related Loans as of the cut-off date for such securitization and at any time
during which the Loan and any Related Loans are included in a securitization does, equal or exceed
twenty percent (20%) of the aggregate principal amount of all Deed of Trust loans included or
reasonably expected to be included, as applicable, in the securitization. Such financial data or
financial statements shall be furnished to Beneficiary (A) within ten (10) Business Days after
notice from Beneficiary in connection with the preparation of Disclosure Documents for the
securitization, (B) not later than thirty (30) days after the end of each fiscal quarter of Grantor
and (C) not later than seventy-five (75) days after the end of each fiscal year of Grantor for any
period for which a filing pursuant to the Securities Exchange Act of 1934 in connection with or
relating to the securitization (an “Exchange Act Filing”) is not required. As used herein,
“Regulation AB” shall mean Regulation AB under the Securities Act of 1933 and the Securities
Exchange Act of 1934 (as amended). As used herein, “Disclosure Document” shall mean a prospectus,
prospectus supplement, private placement memorandum, or similar offering memorandum or offering
circular, in each case in preliminary or final form, used to offer securities in connection with a
securitization.

11. Hazardous Substances. Grantor covenants and agrees that it (a) shall not use,
generate, store, or allow to be generated, stored or used, any “Hazardous Substances” (hereinafter
defined) on the Property, except in the ordinary course of Grantor’s business and in accordance
with all “Environmental Laws” (hereinafter defined), (b) shall at all times maintain the Property
in full compliance with all applicable Environmental Laws, including timely remediating the
Property if and when required, and (c) shall cause compliance by all tenants and sub-tenants on the
Property with Grantor’s covenants and agreements contained in this Paragraph 11. Grantor shall
promptly notify Beneficiary in writing of (i) any investigation, claim or other proceeding by any
party caused or threatened in connection with any Hazardous Substances on the Property, or the
failure or alleged failure of the Property to comply with any applicable Environmental Laws, or
(ii) Grantor’s discovery of any condition on or in the vicinity of the Property to fail to comply
with applicable Environmental Laws.

The term “Environmental Laws” shall include any present and future federal, state and/or local
law, statute, ordinance, code, rule, regulation, license, authorization, decision, order,
injunction or decree and/or other governmental directive or requirement, as well as common law,
which pertains or relates to health, safety or the environment (including but not limited to,
ground or air or water or noise pollution or contamination, and underground or above ground tanks)
and shall include, without limitation, the Comprehensive Environmental Response, Compensation and
Liability Act of 1980, as amended (“CERCLA”), the Resource Conservation and Recovery Act of 1976,
as amended (“RCRA”), and any state or federal lien or superlien or environmental clean-up statutes,
and regulations, rules, guidelines, or standards promulgated pursuant thereto all as amended from
time to time. The term “Hazardous Substances” shall include any substance, whether solid, liquid
or gaseous: (i) which is listed, defined or regulated as a “hazardous substance,” “hazardous
waste” or “solid waste,” or otherwise classified as hazardous or toxic, in or pursuant to any
Environmental Laws; or (ii) which is or contains asbestos, radon, any polychlorinated biphenyl,
urea formaldehyde foam insulation, explosive or radioactive material, lead paint, or motor fuel or
other petroleum hydrocarbons; or (iii) which causes or poses a threat to cause a contamination or
nuisance on the Property or any adjacent property or a hazard to the environment or to the health
or safety of persons on or about the Property.

12. Representations and Covenants.

(a) If Grantor is a corporation, it represents that it is a corporation duly organized,
existing and in good standing under the laws of its state of incorporation, that it is duly
qualified and in good standing under the laws of the state where the Land is located, and
that the execution and delivery of the Loan Documents and the performance of the obligations
thereunder are within Grantor’s corporate powers, have been duly authorized by all necessary
action of its board of directors, and do not contravene the terms of its articles of
incorporation or by-laws.

(b) If Grantor is a general or limited partnership or a limited liability company, it
represents that it is duly formed, organized and existing in the state of its formation,
that it is qualified to do business under the laws of the state where the Land is located,
and that the execution and delivery of the Loan Documents and the performance of the
obligations thereunder do not conflict with any provision of Grantor’s partnership agreement
or operating agreement, as applicable, and all other certificates and agreements governing
Grantor, and have been duly authorized by all necessary action of its partners or members.

(c) Grantor represents that (i) the execution and delivery of the Loan Documents, the
payment of the Indebtedness, and the performance of the Obligations do not violate any law
or conflict with any agreement by which Grantor is bound, or any court order by which
Grantor is bound, (ii) no consent or approval of any governmental authority or any third
party is required for the execution or delivery of the Loan Documents, the payment of
Indebtedness, and the performance of the Obligations, and (iii) the Loan Documents are valid
and binding agreements, enforceable in accordance with their terms.

(d) Grantor represents that (i) it is lawfully seized with fee simple title in the
estate hereby conveyed; (ii) it has the right to mortgage, convey, assign and grant a first
security interest in the Property; (iii) the Property is unencumbered, and Grantor will
warrant and defend title to the Property against all claims and demands, subject to
easements and restrictions listed in a schedule of exceptions to coverage in the title
insurance policy accepted by Beneficiary insuring Beneficiary’s and Trustee’s respective
interests in the Property; and (iv) it has no operations, assets or activities other than
the Property.

(e) Grantor represents and covenants that, to the best of Grantor’s knowledge, (i) all
material permits, licenses, authorizations, approvals, and certificates, including
certificates of completion and occupancy permits, required by law, ordinance or regulation
have been obtained and are and shall remain in full force and effect; and (ii) Grantor and
the use and occupancy of the Land and all improvements thereon are and shall remain in
compliance with all laws, regulations and ordinances, including without limitation, all
restrictive covenants of record and zoning and building laws.

(f) Grantor represents that, to the best of its knowledge after inquiry, except as
disclosed on the survey furnished by Grantor to Beneficiary in connection with the Loan, all
of the improvements on the Land lie wholly within the boundaries of and building line
restrictions relating to the Land and no improvements located on adjoining lands encroach
upon the Land so as to affect the value or marketability of the Property, except those which
are insured against by the title insurance policy accepted by Beneficiary insuring
Beneficiary’s and Trustee’s respective interests in the Property.

(g) Grantor represents that, to the best of Grantor’s knowledge, the Property is served
by public utilities, water and sewer (or septic facilities) and services in the surrounding
community, including police and fire protection, public transportation, refuse removal,
public education, and enforcement of safety codes which are adequate in relation to the
premises and location on which the Property is located (taking into account the Permitted
Use of the Property).

(h) Grantor represents that, to the best of Grantor’s knowledge, the Property is
serviced by public water and sewer systems which are adequate in relation of the
improvements and location on which the Property is located. All liquid and solid waste
disposal, septic and sewer systems located on the Property are in good and safe condition
and repair and in compliance with all applicable laws.

(i) Grantor represents that the Property has parking and other amenities necessary for
the operation of the business currently conducted thereon which are adequate in relation to
the premises and location on which the Property is located.

(j) Grantor represents that the Property is a contiguous parcel and a separate tax
parcel, and there are no delinquent taxes or other outstanding charges adversely affecting
the Property.

(k) Grantor represents that no action, omission, misrepresentation, negligence, fraud
or similar occurrence has taken place on the part of any person that would reasonably be
expected to result in the failure or impairment of full and timely coverage under any
insurance policies providing coverage for the Property.

(l) None of Grantor, any Guarantor, or any other holder of a direct or indirect legal
or beneficial interest in Grantor is or will be, held, directly or indirectly, by a “foreign
corporation,” “foreign partnership,” “foreign trust,” “foreign estate,” “foreign person,”
“affiliate” of a “foreign person” or a “United States intermediary” of a “foreign person”
within the meaning of IRC Sections 897 and 1445, the Foreign Investments in Real Property
Tax Act of 1980, the International Investment and Trade in Services Survey Act, the
Agricultural Foreign Investment Disclosure Act of 1978, the regulations promulgated pursuant
to such acts or any amendments to such acts.

(m) None of Grantor or any Guarantor is insolvent, and there has been no (i) assignment
made for the benefit of the creditors of any of them, (ii) appointment of a receiver for any
of them or for the properties of any of them, or (iii) bankruptcy, reorganization, or
liquidation proceeding instituted by or against any of them.

(n) All information in the application for the Loan submitted by Grantor to Beneficiary
(the “Loan Application”) and in all financial statements, rent rolls, reports, certificates
and other documents submitted in connection with the Loan Application or in satisfaction of
the terms thereof, are accurate, complete and correct in all material respects, provided,
however, to the extent that such information was prepared by someone other than Grantor or
an affiliate of Grantor, the foregoing representation is made to the best of Grantor’s
knowledge after inquiry. There has been no material adverse change in the representations
made or information heretofore supplied by or on behalf of Grantor or any Guarantor in
connection with the Loan or the Loan Application as to Grantor, any Guarantor, or the
Property. There has been no adverse change in any condition, fact, circumstance or event
that would make any such representations or information inaccurate, incomplete or otherwise
misleading.

(o) Except as listed on Exhibit C hereto, (i) there is no litigation,
arbitration, condemnation proceeding or other proceeding or governmental investigation
pending or, to Grantor’s knowledge, threatened against or relating to Grantor, any
Guarantor, or the Property and there are no outstanding judgment(s) against or relating to
Grantor or any Guarantor, in each case that may have a material adverse effect on Grantor’s
financial condition, the value of the Property or the net operating income therefrom, (ii)
Grantor and Guarantor, each has not (A) had any property foreclosed upon, (B) given a deed
in lieu of foreclosure, or (C) been involved in any criminal proceedings where Grantor or
Guarantor was the defendant and (iii) Grantor and Guarantor have not defaulted on any loan
or other indebtedness.

(p) The proceeds evidenced by the Note will be used by Grantor solely and exclusively
for proper business purposes and will not be used for the purchase or carrying of registered
equity securities within the purview and operation of any regulation issued by the Board of
Governors of the Federal Reserve System or for the purpose of releasing or retiring any
indebtedness which was originally incurred for any such purpose.

(q) Grantor represents and covenants that all Leases of space in the Property existing
as of the date hereof are in writing.

(r) Grantor covenants that Beneficiary shall be allowed to advertise in the various
news or financial media that Beneficiary has provided the Loan to Grantor, but Grantor shall
not do so without Beneficiary’s prior written permission.

(s) Grantor represents that Grantor and all Guarantors have filed all federal, state,
county, municipal, and city income and other tax returns required to have been filed by them
and have paid all taxes and related liabilities which have become due pursuant to such
returns or pursuant to any assessments received by them. Neither Grantor nor any Guarantor
knows of any basis for any additional assessment in respect to any such taxes and related
liabilities for prior years.

(t) Grantor covenants that if at any time the United States of America, any State
thereof or any subdivision of any such State shall require revenue or other stamps to be
affixed to the Note or this Deed of Trust, or impose any other tax or charge on the same,
Grantor will pay for the same, with interest and penalties thereon, if any.

(u) As of the date hereof, Grantor represents that Grantor and Guarantors have no valid
offset, defense, counterclaim, abatement or right to rescission with respect to any of the
Loan Documents.

(v) Grantor has dealt with no broker other than L.J. Melody (“Broker”) and Grantor
shall pay all fees and expenses owing to any mortgage broker and will indemnify, defend and
hold Beneficiary harmless from any and all other brokerage claims related to the Loan.
Notwithstanding the foregoing, Beneficiary may, at its sole election, pay incentive fees or
other compensation (collectively, “Incentives”) to Broker. Those Incentives are intended to
encourage Broker to bring loans to Beneficiary, and may be based on a variety of different
factors, including the amount of the Loan, the Contract Rate (as defined in the Note) the
spread, the number of loan applications or loans referred to Beneficiary, the amount of
investigative, due diligence or other assistance provided by Broker, or other factors. Any
cash payments to Broker are not referenced in the Loan Documents.

(w) Notwithstanding anything to the contrary contained herein, so long as this Deed of
Trust remains in effect, Grantor shall not bring an action for partition with respect to
such Grantor’s ownership interest in the Property or to compel any sale thereof, and each
entity comprising Grantor hereby expressly waives any and all rights to partition the
Property.

(x) Grantor shall give prompt notice to Beneficiary of any default under any Tenant in
Common Agreement (“TIC Agreement”).

(y) Grantor shall not modify, amend or terminate the TIC Agreement without the prior
written consent of Beneficiary, which consent may be withheld in Beneficiary’s sole and
absolute discretion.

(z) Without limiting the generality of Paragraph 15, there shall never be more than
thirty-five (35) tenants in common (including Grantor) owning the Property.

(aa) Grantor covenants that it shall not terminate the property manager under that
certain Management Agreement (the “Management Agreement”) executed by and between Grantor
and Triple Net Properties Realty, Inc. (the “Property Manager”) or modify and/or terminate
the Management Agreement or enter into a new management agreement, without the prior written
consent of Beneficiary. In the event Grantor does terminate the Property Manager with the
written consent of Beneficiary, Beneficiary shall have the right to approve the new
management agreement and approve any new property manager named by Grantor which new
property manager must be acceptable to Beneficiary in its sole discretion. The Management
Agreement or any subsequently approved management agreement shall provide that such property
manager may not be terminated without Beneficiary’s prior written consent, and which such
new property management agreement may not be terminated or amended without Beneficiary’s
prior written consent. In addition, the Management Agreement shall provide that all notice
from Beneficiary to the Tenants in Common may go to the Property Manager on behalf of all
Tenants in Common.

(bb) At all times during the term of the Loan, Property Manager shall have all
operating authority for the Property pursuant to the terms of the Management Agreement.

(cc) Grantor represents and warrants that it has not granted a security interest in the
Replacement Reserve or TI and Leasing Reserve to any other person or entity.

(dd) With respect to the Grantor hereunder, NNN Lenox Medical Member, LLC, a Delaware
limited liability company (“Sole Member”), shall at all times prior to the repayment in full
of the Concurrent Subordinate Indebtedness (hereinafter defined), be the sole member of such
entity.

(ee) With respect to the Sole Member hereunder, Triple Net Properties, LLC, a Virginia
limited liability company, shall at all times prior to the repayment in full of the
Concurrent Subordinate Indebtedness, be the “manager” of such entity.

Except as otherwise provided herein, each and all of the representations, covenants and obligations
of Grantor shall survive the execution and delivery of the Loan Documents and shall continue in
full force and effect until the Indebtedness is paid in full.

13. Lease Assignment. Grantor acknowledges that, concurrently herewith Grantor is
delivering to Beneficiary, as additional security for the repayment of the Loan, an Assignment of
Leases and Rents (the “Assignment”) pursuant to which Grantor has assigned to Beneficiary all of
Grantor’s right, title and interest in the Leases and the Rents and income from the Property. All
of the provisions of the Assignment are hereby incorporated herein as if fully set forth at length
in the text of this Deed of Trust. Grantor agrees to abide by all of the provisions of the
Assignment.

14. Subordination, Non-Disturbance and Attornment Agreements/Estoppel Certificates.

(a) Grantor shall, within 15 days after Beneficiary’s request, furnish Beneficiary with
a written statement, duly acknowledged, setting forth the sums secured by the Loan Documents
and any right of set-off, counterclaim or other defense which exists against such sums and
the Obligations.

(b) If the Property includes commercial property, Grantor shall use best efforts
(including institution of litigation) to deliver to Beneficiary upon request, tenant
subordination, non-disturbance and attornment agreements/estoppel certificates from each
commercial tenant at the Property in form and substance reasonably satisfactory to
Beneficiary provided that Grantor shall not be required to deliver such certificates more
frequently than two (2) times in any calendar year.

15. Transfers of the Property or Ownership Interests in Grantor; Assumption; Due on
Sale/Encumbrance.

(a) No Sale/Encumbrance. Grantor agrees that Grantor shall not, without the
prior written consent of Beneficiary, sell, convey, mortgage, grant, bargain, encumber,
pledge, assign, or otherwise transfer the Property or any interest therein or any part
thereof or permit the Property or any part thereof to be sold, conveyed, mortgaged, granted,
bargained, encumbered, pledged, assigned, or otherwise transferred except for: (i) pursuant
to Leases of space in the Property to tenants in accordance with the provisions of Paragraph
7; (ii) in connection with a condemnation action or other taking; or (iii) the disposal of
personalty that is obsolete or no longer used or useful, so long as such personalty is
replaced with similar items of comparable value and utility and in which Beneficiary has a
first lien and mortgage. In addition, Grantor shall not allow, without the prior written
consent of Beneficiary, any pledge of any ownership interests in Grantor.

(b) Sale/Encumbrance Defined. A sale, conveyance, Deed of Trust, grant,
bargain, encumbrance, pledge, assignment, or transfer of the Property within the meaning of
this Paragraph 15 shall be deemed to include, but not limited to the following: (i) an
installment sales agreement wherein Grantor agrees to sell the Property or any part thereof
for a price to be paid in installments; (ii) an agreement by Grantor leasing all or a
substantial part of the Property for other than actual occupancy by a space tenant
thereunder or a sale, assignment or other transfer of, or the grant of a Deed of Trust in,
Grantor’s right, title and interest in and to any Leases or any Rents; or (iii) a sale,
encumbrance, pledge, hypothecation, or transfer of any direct and/or indirect ownership
interests (including beneficial interests) in Grantor. Notwithstanding the foregoing,
provided that no Event of Default has occurred, the following transfers shall not be deemed
to be a sale or encumbrance for the purpose of this Paragraph 15: (A) transfers of interests
in Grantor for estate planning purposes to immediate family members (which shall be limited
to a spouse, parent, child and grandchild (each an “Immediate Family Member”)) of such party
or to trusts or entities created for the benefit of Immediate Family Members provided that
(1) Grantor shall provide Beneficiary with 30 days’ prior written notice of any such
permitted transfer, and (2) Grantor shall furnish Beneficiary with copies of any
documentation executed in connection with such permitted transfer promptly after execution
thereof, (B) transfers of direct and/or indirect interests in Grantor by operation of law or
upon death by devise or descent, provided that Grantor shall furnish Beneficiary with copies
of any documentation executed in connection with such permitted transfer promptly after
execution thereof, (C) transfers of direct and/or indirect interests in Grantor to
Guarantor(s), (D) a sale, encumbrance, pledge, hypothecation, or transfer of up to
ninety-nine percent (99%) in the aggregate (which may be pursuant to one or more
transactions during the term of the Loan) of the direct and/or indirect ownership interests
(including beneficial interests) in Grantor provided that (1) if such Transfer exceeds
forty-nine percent (49.0%) of the direct or indirect ownership interests in Grantor, such
Transfer is to the REIT or to a newly formed entity that is owned and controlled by the
REIT, (2) Grantor shall furnish Beneficiary with copies of any documentation executed in
connection with such permitted transfer promptly after execution thereof, (3) such transfer
does not result in change in the control or management of Grantor, and (4) if the transferor
is Guarantor or an entity owned and controlled by Guarantor, such transferor shall deliver
to Beneficiary within one (1) Business Day after the closing of any such transfer the net
proceeds for application to the outstanding balance of the Concurrent Subordinate
Indebtednessor, (E) Sole Member of Grantor may transfer 100% of its interest in Grantor or
Property to the REIT or to a newly formed entity that is owned and controlled by the REIT,
and (F) the issuance of new membership interests in Grantor by which an aggregate of less
than forty-nine percent (49%) of the ownership of Grantor’s membership interests shall be
vested in or pledged to a party or parties other than Guarantor, provided that (1) Grantor
shall furnish Beneficiary with copies of any documentation executed in connection with such
permitted transfer promptly after execution thereof, and (2) such transfer does not result
in change in the control or management of Grantor, and (3) Grantor shall deliver to
Beneficiary within one (1) Business Day after the closing of any such issuance the net
proceeds for application to the outstanding balance of the Concurrent Subordinate
Indebtedness. To the extent that the forgoing are not deemed to be a sale or encumbrance
for purposes of this Paragraph 15, no administrative fee shall be required in connection
therewith.

(c) TIC Assumption. Notwithstanding the foregoing provisions of this
Paragraph 15, Beneficiary shall not withhold its consent to a transfer of an undivided
tenant-in-common interest in the Property and partial assumption of this Loan (hereinafter,
a “TIC Assumption”), provided that each of the following terms and conditions are satisfied:

(i) Grantor is in compliance with all terms and conditions of the Loan
Documents and no Event of Default has occurred and is then continuing hereunder or
under any of the other Loan Documents and the proposed transferee (“Transferee”)
agrees to continue to comply with and be bound by all provisions of the Loan
Documents;

(ii) Grantor gives Beneficiary written notice of the terms of such prospective
TIC Assumption not less than thirty (30) days before the date on which such TIC
Assumption is scheduled to take place and, concurrently therewith, gives Beneficiary
all such information concerning Transferee as Beneficiary reasonably requests;

(iii) Grantor shall pay Beneficiary (A) in connection with such proposed TIC
Assumption, all reasonable out-of-pocket costs and expenses, including, without
limitation, reasonable attorneys’ fees incurred by Beneficiary and any rating agency
approval fees (whether such transfer is approved or rejected) plus (B) concurrently
with the closing of such TIC Assumption, a nonrefundable assumption fee in an amount
equal to the greater of (A) $5,000.00, or (B) 1% of such Transferee’s proportionate
share of the Principal Amount (based on such Transferee’s tenancy in common interest
in the Property), provided, however, with respect to TIC Assumptions closed on or
before the earlier of the date that is one hundred eighty (180) days of the date
hereof and the maturity date of the Concurrent Subordinate Indebtedness, such
nonrefundable assumption fee shall equal the lesser of (A) $1,000.00 per Transferee,
or (B) $7,000;

(iv) Transferee executes and delivers such documents and agreements as
Beneficiary shall reasonably require to evidence and effectuate said assumption and
delivers such legal opinions as Beneficiary may reasonably require, including,
without limitation, hazard insurance endorsements or certificates and other similar
materials as Beneficiary may deem necessary at the time of the TIC Assumption, all
in form and substance satisfactory to Beneficiary, including, without limitation, an
endorsement or endorsements to Beneficiary’s loan title insurance policy insuring
the lien of this Deed of Trust, extending the effective date of such policy to the
date of execution and delivery of the assumption agreement referenced in this
subparagraph 15(c)(iv), with no additional exceptions added to such policy, except
for items consented to by Beneficiary or permitted under this Deed of Trust, and
insuring that Transferee’s proportionate interest in the fee simple title to the
Property is vested in the Transferee;

(v) the transferring Grantor executes and delivers to Beneficiary, without any
cost or expense to Beneficiary, a release of Beneficiary, its officers, directors,
employees and agents, from all claims and liability relating to the transactions
evidenced by the other security documents through and including the date of the
closing of the TIC Assumption, which agreement shall be in form and substance
satisfactory to Beneficiary and shall be binding upon the Transferee;

(vi) subject to the provisions of Paragraph 11 of the Note, such TIC Assumption
is not construed so as to relieve the transferring Grantor of any personal liability
under the Note or any of the Loan Documents for any act or events occurring or
obligations arising prior to or simultaneously with the closing of such TIC
Assumption (excluding payment of the principal amount of the Note and interest
accrued thereon) and the transferring Grantor executes, without any cost or expense
to Beneficiary, such documents and agreements as Beneficiary shall reasonably
require to evidence and effectuate the ratification of such personal liability;

(vii) Transferee shall furnish, if Transferee is a corporation, partnership or
other entity, all appropriate papers evidencing Transferee’s capacity in good
standing and the qualification of the signers to execute the assumption of the
Obligations, which paper shall include certified copies of all documents relating to
the organization and formation of Transferee and of the entities, if any, which are
partners, members or shareholders of Transferee. Transferee and such constituent
partners, members or shareholders of Transferee (as the case may be) as Beneficiary
shall require, shall be single purpose entities, whose formation documents shall be
approved by counsel to Beneficiary. Transferee must comply with the provisions of
Paragraph 17 hereof;

(viii) Transferee shall furnish an opinion of counsel satisfactory to
Beneficiary and its counsel stating that (A) Transferee’s formation documents
provide proof for the matters described in subparagraph (vii) above, (B) the assets
of Transferee will not be consolidated with the assets of any other entity having an
interest in, or affiliation with, the Transferee, in the event of a bankruptcy or
insolvency of any such entity if required by any rating agency after the
securitization of the Loan, (C) the assumption of the Obligations has been duly
authorized, executed and delivered and the Loan Documents are valid, binding and
enforceable against the Transferee in accordance with their terms, (D) Transferee
and any entity which is a controlling stockholder, general partner or managing
member of Transferee have been duly organized and are in good standing and in
existence, (E) the waiver of the right to partition the Property is enforceable
against Transferee, and (F) with respect to such other matters as Beneficiary or any
applicable rating agency may request;

(ix) if the Loan has previously been securitized pursuant to Paragraph 43,
Beneficiary shall have received evidence in writing from the rating agencies to the
effect the proposed transfer will not result in a downgrade, qualification,
reduction or withdrawal of any rating initially assigned or to be assigned to any
securities issued in connection with the Loan; and

(x) Notwithstanding the foregoing or any of the provisions of the Loan
Documents to the contrary, a Transferee must meet all of the following conditions:

(A) the owner(s) of all of the ownership interests in a Transferee must be
an “ Accredited Investor” as defined in Rule 501 of Regulation D of the
Securities Act of 1933, and Transferee and/or its principals must have a
Beacon/FICO score of not less than 650;

(B) neither a Transferee nor the owner(s) of any of the ownership interests
in a Transferee shall have (1) been a party to any bankruptcy proceedings,
voluntary or involuntary, (2) made an assignment for the benefit of
creditors or taken advantage of any insolvency act, or any act for the
benefit of debtors, (3) defaulted on any indebtedness, (4) owned any
property which was subject to foreclosure or attachment proceedings, (5)
been a target of, or party to, any criminal investigation or proceeding, (6)
been a party to any threatened or pending litigation or (7) any outstanding
judgments;

(C) intentionally deleted;

(D) there shall be no material convictions, judgments, litigation or
regulatory action pending or threatened against Transferee, Transferee’s
principals or related entities which is not reasonably acceptable to
Beneficiary, and none of Transferee, Transferee’s principals or such related
entities shall be on any so-called prohibited persons lists;

(E) other than with respect to transfers by the initial Grantor hereunder,
the transfer (1) must be for the entire interest of a Tenant in Common in
the Property (or 100% of the ownership interests in a Tenant in Common), and
(2) can only be made to a single new Tenant in Common. In no event may any
such transfer result in “Grantor” being comprised of more than the number of
co-owners set forth in Revenue Procedure 2002-22, I.R.B. 2002-14, as such
pronouncement may be modified from time to time (which number is thirty five
[35] as of the date hereof);

(F) Transferee, Transferee’s principals and the related entities shall not
have defaulted under its or their obligations with respect to any other
indebtedness in a manner which is not acceptable to Beneficiary; and

(G) Transferee, Transferee’s principals and the related entities must have
demonstrated expertise in owning and operating real estate investment
property, which expertise shall be reasonably determined by Beneficiary.

Any such TIC Assumption shall not be construed as to relieve any current Guarantors of their
obligations under any guarantees or indemnity agreements executed in connection with the
Note, provided that if Transferee or a party associated with Transferee approved by
Beneficiary in its sole discretion assumes the obligations of the current Guarantors under
their guarantees or indemnity agreements and Transferee or such party associated with
Transferee if applicable, executes, without any cost or expense to Beneficiary, a new
guarantee and/or indemnity agreement in form and substance satisfactory to Beneficiary, then
Beneficiary shall release the current Guarantors from all obligations first arising under
their guarantees or indemnity agreements after the closing of such TIC Assumption;

(d) One-Time Assumption. Notwithstanding the foregoing provisions of this
Paragraph 15, Beneficiary shall not withhold its consent to a sale of the entire Property
and assumption of this Loan (hereinafter, an “Assumption”), provided that each of the
following terms and conditions are satisfied:

(i) Grantor is in compliance with all terms and conditions of the Loan
Documents and no default has occurred and is then continuing hereunder or under any
of the other Loan Documents and the proposed Transferee agrees to continue to comply
with and be bound by all provisions of the Loan Documents;

(ii) Grantor gives Beneficiary written notice of the terms of such prospective
Assumption not less than forty-five (45) days before the date on which such
Assumption is scheduled to take place and, concurrently therewith, gives Beneficiary
all such information concerning Transferee as Beneficiary reasonably requests.
Beneficiary shall have the right to approve or disapprove the proposed Transferee.
In determining whether to give or withhold its approval of the proposed Transferee,
Beneficiary shall consider Transferee’s experience in owning and operating a
facility similar to the Property, Transferee’s entity structure, Transferee’s
financial strength, the Transferee’s general business standing and Transferee’s
relationship and experience with contractors, vendors, tenants, Beneficiaries and
other business entities;

(iii) Grantor shall pay Beneficiary (A) in connection with such proposed
Assumption, all reasonable out-of-pocket costs and expenses, including, without
limitation, reasonable attorneys’ fees incurred by Beneficiary and any rating agency
approval fees (whether such transfer is approved or rejected), plus (B) concurrently
with the closing of such Assumption, a nonrefundable assumption fee in an amount
equal to 1% of the then outstanding principal balance of the Note (the “Assumption
Fee”). Notwithstanding the foregoing, Beneficiary agrees to waive the first
Assumption Fee, so long as the Transferee is the REIT or a newly formed entity that
is owned and controlled by the REIT;

(iv) Transferee executes and delivers such documents and agreements as
Beneficiary shall reasonably require to evidence and effectuate said assumption and
delivers such legal opinions as Beneficiary may reasonably require, including,
without limitation, hazard insurance endorsements or certificates and other similar
materials as Beneficiary may deem necessary at the time of the Assumption, all in
form and substance satisfactory to Beneficiary, including, without limitation, an
endorsement or endorsements to Beneficiary’s loan title insurance policy insuring
the lien of this Deed of Trust, extending the effective date of such policy to the
date of execution and delivery of the assumption agreement referenced in this
subparagraph 15(c)(iv), with no additional exceptions added to such policy, except
for items consented to by Beneficiary or permitted under this Deed of Trust, and
insuring that fee simple title to the Property is vested in the Transferee;

(v) Grantor executes and delivers to Beneficiary, without any cost or expense
to Beneficiary, a release of Beneficiary, its officers, directors, employees and
agents, from all claims and liability relating to the transactions evidenced by the
other security documents through and including the date of the closing of the
Assumption, which agreement shall be in form and substance satisfactory to
Beneficiary and shall be binding upon the Transferee;

(vi) subject to the provisions of Paragraph 11 of the Note, such Assumption is
not construed so as to relieve Grantor of any personal liability under the Note or
any of the Loan Documents for any act or events occurring or obligations arising
prior to or simultaneously with the closing of such Assumption (excluding payment of
the principal amount of the Note and interest accrued thereon) and Grantor executes,
without any cost or expense to Beneficiary, such documents and agreements as
Beneficiary shall reasonably require to evidence and effectuate the ratification of
such personal liability;

(vii) Transferee shall furnish, if Transferee is a corporation, partnership or
other entity, all appropriate papers evidencing Transferee’s capacity in good
standing and the qualification of the signers to execute the assumption of the
Obligations, which paper shall include certified copies of all documents relating to
the organization and formation of Transferee and of the entities, if any, which are
partners, members or shareholders of Transferee. Transferee and such constituent
partners, members or shareholders of Transferee (as the case may be) as Beneficiary
shall require, shall be single purpose entities, whose formation documents shall be
approved by counsel to Beneficiary. Transferee must comply with the provisions of
Paragraph 17 hereof;

(viii) Transferee shall furnish an opinion of counsel satisfactory to
Beneficiary and its counsel stating that (A) Transferee’s formation documents
provide proof for the matters described in subparagraph (vi) above, (B) the assets
of Transferee will not be consolidated with the assets of any other entity having an
interest in, or affiliation with, the Transferee, in the event of a bankruptcy or
insolvency of any such entity if required by any rating agency after the
securitization of the Loan, (C) the assumption of the Obligations has been duly
authorized, executed and delivered and the Loan Documents are valid, binding and
enforceable against the Transferee in accordance with their terms, (D) Transferee
and any entity which is a controlling stockholder, general partner or managing
member of Transferee have been duly organized and are in good standing and in
existence, and (E) with respect to such other matters as Beneficiary or any
applicable rating agency may request; and

(ix) if the Loan has previously been securitized pursuant to Paragraph 44,
Beneficiary shall have received evidence in writing from the rating agencies to the
effect the proposed transfer will not result in a downgrade, qualification,
reduction or withdrawal of any rating initially assigned or to be assigned to any
securities issued in connection with the Loan.

Any such Assumption shall not be construed as to relieve any current Guarantors of their
obligations under any guarantees or indemnity agreements executed in connection with the Note,
provided that if Transferee or a party associated with Transferee approved by Beneficiary in
its sole discretion assumes the obligations of the current Guarantors under their guarantees
or indemnity agreements and Transferee or such party associated with Transferee if applicable,
executes, without any cost or expense to Beneficiary, a new guarantee and/or indemnity
agreement in form and substance satisfactory to Beneficiary, then Beneficiary shall release
the current Guarantors from all obligations first arising under their guarantees or indemnity
agreements after the closing of such Assumption. If the Transferee under this Section 15(d)
is the REIT, at such time as the REIT achieves a minimum net worth not less than $10,000,000
as determined by Beneficiary in its sole discretion, then the REIT shall be deemed an
acceptable substitute guarantor for purposes of this section;

(e) Transfer of Membership Interests.

Notwithstanding anything herein to the contrary, the sole member of the initial Grantor
hereunder shall have the right, without Beneficiary’s consent, to transfer non-managing
limited liability company interests in such initial Grantor to one or more Persons (each, a
“Member Transferee”), provided, the following criteria are satisfied:

1) Each Member Transferee and/or its principals must be an “Accredited Investor” as
defined in Rule 501 of Regulation D of the Securities Act of 1933;

2) Each Member Transferee and/or its principals must not be listed on any so-called
prohibited persons lists, including, but not limited to any list published by the Office of
Foreign Assets Control or any successor agency;

3) No Member Transferee and/or its principals may, in the previous ten (10) years, have
been party to any bankruptcy proceedings, voluntary or involuntary, made an assignment for
the benefit of creditors or taken advantage of any insolvency act, or any act for the
benefit of debtors;

4) No Member Transferee may hold more than 7.5% of the interest in the Property
(determined by multiplying the initial Grantor’s interest in the Property by the Member
Transferee’s interest in such initial Grantor);

5) Triple Net Properties, LLC shall remain the sole manager of initial Grantor; and

6) Not less than 10 days prior to such transfer, Grantor shall provide notice of the
pending transfer to Beneficiary, together with a certificate certifying compliance with the
foregoing.

(f) Beneficiary’s Rights. Except as provided in subparagraph 15(c), (d) and
(e) above, Beneficiary reserves the right to condition the consent required hereunder upon a
modification of the terms hereof and on assumption of the Note, this Deed of Trust and the
Loan Documents as so modified by the proposed Transferee, payment of an assumption fee of
one percent (1%) of the Principal Amount, and all of Beneficiary’s out of pocket expenses
incurred in connection with such transfer, the approval by a rating agency of the proposed
transferee, the proposed transferee’s continued compliance with the covenants set forth in
this Deed of Trust, including, without limitation, the covenants contained in Paragraph 17,
or such other conditions as Beneficiary shall determine in its sole discretion to be in the
interest of Beneficiary. All of Beneficiary’s out-of-pocket expenses incurred shall be
payable by Grantor whether or not Beneficiary consents to such assumption. Beneficiary
shall not be required to demonstrate any actual impairment of its security or any increased
risk of default hereunder in order to declare the Note immediately due and payable upon
Grantor’s prohibited sale, conveyance, mortgage, grant, bargain, encumbrance, pledge,
assignment, or transfer of the Property without Beneficiary’s consent. This provision shall
apply to every sale, conveyance, mortgage, grant, bargain, encumbrance, pledge, assignment,
or transfer of the Property regardless of whether voluntary or not, or whether or not
Beneficiary has consented to any previous sale, conveyance, mortgage, grant, bargain,
encumbrance, pledge, assignment, or transfer of the Property.

(g) Lockout Periods.

(i) Beneficiary may send written notice (the “Securitization Notice”) to
Grantor notifying Grantor that Beneficiary has initiated contact with (A) any rating
agency concerning the securitization of the Loan or (B) any purchaser or investor
regarding the sale of the Loan. Once a Securitization Note has been given, Grantor
can no longer transfer any interest in the Property; provided, however, that
notwithstanding the foregoing, in the event that Grantor has been provided with all
the information concerning any proposed Tenant in Common as a Transferee as
described above in subparagraph 15(c)(ii) prior to the receipt of the Securitization
Notice, Grantor shall have thirty (30) days from the date of the receipt of the
Securitization Notice to complete all the requirements set forth in this
Paragraph 15 necessary to transfer a Tenant in Common interest hereunder. In the
event such transfer is not completed within said thirty (30) day period, Grantor
shall be prohibited from trying to add the proposed Tenant in Common or transferring
any interest to any other Tenant in Common for six (6) months from the date of the
Securitization Notice. If the Loan is not securitized or sold within six (6) months
from the date of the Securitization Notice, then Grantor may again try to admit a
new Tenant in Common subject to Beneficiary providing a subsequent Securitization
Notice in the event Beneficiary later initiates contact with any rating agency
concerning the securitization of the Loan or initializes contact with a potential
whole loan purchaser or investor and the thirty (30) day period and six (6) month
period described above shall commence again. Any subsequent approval and admittance
of a new Tenant in Common shall comply with the terms and conditions of this
Paragraph 15.

(ii) Beneficiary shall have no obligation to provide a Securitization Notice if
an Event of Default has occurred and is then continuing hereunder or under any of
the other Loan Documents and in such event Grantor shall have no right to add an
additional Tenant in Common or transfer any interest in the Property.

16. No Additional Liens. Grantor covenants not to execute any mortgage, security
agreement, assignment of leases and rents or other agreement granting a lien (except the liens
granted to Beneficiary by the Loan Documents) or, except as set forth in Paragraph 2 above, take or
fail to take any other action which would result in a lien against the interest of Grantor in the
Property without the prior written consent of Beneficiary.

17. Single Asset Entity. Grantor and any other entity required by Beneficiary to be a
Special Purpose Entity pursuant to the provisions of this Paragraph 17 or otherwise (a “Required
SPE”) shall not hold or acquire, directly or indirectly, any ownership interest (legal or
equitable) in any real or personal property other than the Property, or become a shareholder of or
a member or partner in any entity which acquires any property other than the Property, until such
time as the Indebtedness has been fully repaid and all Obligations are satisfied. Grantor’s and
any Required SPE’s articles of incorporation, partnership agreement or operating agreement, as
applicable, (w) as to Grantor, limit its purpose to the acquisition, ownership, operation and
disposition of the Property, and as to any Required SPE, limit its purpose to acting as the general
partner of the limited partnership that owns the Property, or a member of the limited liability
company that owns the Property, or the general partner of any Required SPE which is a limited
partnership, or a member of any Required SPE which is a limited liability company, (x) prohibit
other activities, mergers, consolidations and asset sales while the Loan is outstanding until such
time as the Indebtedness has been fully repaid, (y) contain separateness covenants satisfactory to
Beneficiary, and (z) provide that such provisions shall not be amended without the prior written
consent of Beneficiary. Grantor covenants that:

(a) Grantor is organized solely for the purpose of acquiring, developing, owning,
holding, selling, leasing, transferring, exchanging, managing and operating the Property,
entering into the Loan Documents with the Beneficiary, refinancing the Property in
connection with a permitted repayment of the Loan, and transacting lawful business that is
incident, necessary and appropriate to accomplish the foregoing; and any Required SPE is
organized solely for the purpose of acting as a general partner of the limited partnership
that owns the Property, or a member of the limited liability company that owns the Property,
or the general partner of any Required SPE which is a limited partnership, or a member of
any Required SPE which is a limited liability company;

(b) Grantor is not engaged and will not engage in any business unrelated to the
acquisition, development, ownership, management or operation of the Property, and any
Required SPE is not engaged and will not engage in any business unrelated to (1) acting as
general partner of the limited partnership that owns the Property, (2) acting as a member of
the limited liability company that owns the Property, (3) acting as general partner of any
Required SPE which is a limited partnership, or (4) acting as a member of any Required SPE
which is a limited liability company;

(c) Grantor does not have and will not have any assets other than those related to the
Property and any Required SPE does not have and will not have any assets other than its
partnership interest in the limited partnership that owns the Property, or its membership
interest in the limited liability company that owns the Property or acts as the general
partner of such limited partnership or managing member of such limited liability company, as
applicable;

(d) neither Grantor nor any Required SPE have engaged, sought or consented to and will
not, without the affirmative vote of all of its members, managers, directors or general
partners, as applicable, engage in, seek or consent to any dissolution, winding up,
liquidation, consolidation, merger, sale of all or substantially all of its assets, transfer
of partnership or membership interests, or amendment of its limited partnership agreement,
articles of incorporation, bylaws, articles of organization, certificate of formation,
limited liability company agreement and/or operating agreement (as applicable) with respect
to the matters set forth in this definition (in each case, except as permitted hereunder or
otherwise with Beneficiary’s prior written consent);

(e) Any Grantor or Required SPE that is a limited partnership has as its only general
partners, Special Purpose Entities that are corporations, limited partnerships or limited
liability companies;

(f) Any Grantor or Required SPE that is a limited liability company, if such limited
liability company has more than one member, has at least one manager that is a Special
Purpose Entity;

(g) Any Grantor or Required SPE that is a limited liability company, if such limited
liability company has only one member, (1) has been formed under Delaware law and (2) has
either a corporation or other person or entity that shall become a member of the limited
liability company upon the dissolution or disassociation of the member, and (3) will not
cause or allow such entity to take any action related to a bankruptcy or insolvency
proceeding or a voluntary dissolution without the unanimous affirmative vote of 100% of the
managers;

(h) Grantor and any Required SPE (1) have articles of organization, a certificate of
formation, limited liability company agreement and/or an operating agreement, as applicable
(if such entity is a limited liability company), (2) have a limited partnership agreement
(if such entity is a limited partnership), or (3) have a certificate of incorporation,
articles or bylaws (if such entity is a corporation) that, in each case, provide that such
entity will not, without the affirmative vote of all of its members, managers, directors, or
general partners, as applicable: (i) dissolve, merge, liquidate or consolidate and, as to
any Required SPE, permit Grantor (as applicable) to dissolve, merge, liquidate, or
consolidate; (ii) except as permitted herein, sell all or substantially all of its assets
or, as to any Required SPE, the assets of the Grantor (as applicable), (iii) engage in any
other business activity, or amend its organizational documents with respect to the matters
set forth in this definition without the consent of the Beneficiary; or (iv) file a
bankruptcy or insolvency petition or otherwise institute insolvency proceedings with respect
to itself or, as to any Required SPE, with respect to Grantor (as applicable);

(i) Grantor and any Required SPE have not and shall not, without the affirmative vote
of all of its member, managers, directors or general partners, as applicable: (i) dissolve,
merge, liquidate, or consolidate, or, as to any Required SPE, permit Grantor (as applicable)
to dissolve, merge, liquidate, or consolidate; (ii) except as permitted herein, sell all or
substantially all of its assets or, as to any Required SPE, the assets of the Grantor (as
applicable), (iii) engage in any other business activity, or amend its organizational
documents, or, with respect to any Required SPE, amend the organizational documents of
Grantor, with respect to the matters set forth in this definition without the consent of the
Beneficiary; or (iv) file a bankruptcy or insolvency petition or otherwise institute
insolvency proceedings with respect to itself or, as to any Required SPE, with respect to
Grantor;

(j) each of Grantor and any Required SPE is solvent and pays its debts and liabilities
(including, as applicable, shared personnel and overhead expenses) from its assets as the
same become due, and endeavors to maintain adequate capital for the normal obligations
reasonably foreseeable in a business of its size and character and in light of its
contemplated business operations;

(k) each of Grantor and any Required SPE has not failed and will not fail to correct
any known misunderstanding regarding the separate identity of such entity;

(l) each of Grantor and any Required SPE will file its own tax returns; provided,
however, that its assets and income may be included in a consolidated tax return of its
parent companies if inclusion on such consolidated tax return is in compliance with
applicable law or, in the event that such Grantor or Required SPE is a disregarded entity
for federal tax purposes, then its assets and income may be included on the tax returns
filed by its owner;

(m) each of Grantor and any Required SPE has maintained and will maintain its own
resolutions and agreements;

(n) each of Grantor and any Required SPE (1) has not commingled and will not commingle
its funds or assets with those of any other person, (2) will pay its obligations solely with
its own assets, and (3) has not participated and will not participate in any cash management
system with any other person other than Beneficiary;

(o) each of Grantor and any Required SPE has held and will hold its assets in its own
name;

(p) each of Grantor and any Required SPE has conducted and will conduct its business in
its name or in a name franchised or licensed to it by an entity other than an Affiliate of
Grantor;

(q) each of Grantor and any Required SPE has maintained and will maintain its balance
sheets, operating statements and other entity documents separate from any other Person and
has not permitted and will not permit its assets to be listed as assets on the financial
statement of any other entity except as required or permitted by generally accepted
accounting principles; provided, however, that any such consolidated financial statement
shall contain a note indicating that it maintains separate balance sheets and operating
statements for such Grantor or Required SPE, respectively, and, if it is the Grantor, for
the Property.

(r) each of Grantor and any Required SPE has a sufficient number of employees in light
of its contemplated business operations, which may be none;

(s) each of Grantor and any Required SPE has observed and will observe all partnership,
corporate or limited liability company formalities, as applicable;

(t) each of Grantor and any Required SPE has no, and will have no, Indebtedness
(including loans (whether or not such loans are evidenced by a written agreement) between
such Grantor or Required SPE, respectively, and any Affiliates of Grantor) other than (i)
with respect to Grantor, the Loan and the Concurrent Subordinate Indebtedness , (ii) with
respect to Grantor or any Required SPE, unsecured liabilities incurred in the ordinary
course of business relating to the routine administration of Grantor or such Required SPE,
respectively, and, with respect to Grantor only, unsecured liabilities incurred in the
ordinary course of business relating to the ownership and operation of the Property, which
liabilities are owed to unrelated third parties, are not more than sixty (60) days past the
date incurred (unless disputed in accordance with applicable law), are not evidenced by a
note and are paid when due, and which amounts are normal and reasonable under the
circumstances, and shall not exceed two percent (2%) of the outstanding principal balance of
the Loan;

(u) each of Grantor and any Required SPE will not guarantee or become obligated for the
debts of any other entity or person or hold out its credits as being available to satisfy
the obligations of others, including not acquiring obligations or securities of its
partners, members or shareholders (except to the extent that any Required SPE acting as the
general partner of Grantor may become liable for the debts of Grantor, where Grantor is a
limited partnership);

(v) each of Grantor and any Required SPE has not and will not acquire obligations of
its partners, members or shareholders or any other Affiliate;

(w) each of Grantor and any Required SPE has allocated and will allocate fairly and
reasonably any overhead expenses that are shared with any Affiliate, including, but not
limited to, paying for shared office space and services performed by any employee of an
Affiliate;

(x) each of Grantor and any Required SPE has not maintained or used, and will not
maintain or use, invoices and checks bearing the name of any other Person, and will use its
own stationery for written communications with all other Persons;

(y) each of Grantor and any Required SPE has not pledged and will not pledge its assets
for the benefit of any other Person except as permitted or required pursuant to this Deed of
Trust;

(z) each of Grantor and any Required SPE has held itself out and identified itself and
will hold itself out and identify itself as a separate and distinct entity under its own
name or in a name franchised or licensed to it by an entity other than an Affiliate of
Grantor;

(aa) each of Grantor and any Required SPE has maintained and will maintain its assets
in such a manner that it will not be costly or difficult to segregate, ascertain or identify
its individual assets from those of any other Person;

(bb) each of Grantor and any Required SPE has not made and will not make loans to any
Person or hold evidence of indebtedness issued by any other person or entity (other than
cash and investment-grade securities issued by an entity that is not an Affiliate of or
subject to common ownership with such entity);

(cc) each of Grantor and any Required SPE has not identified and will not identify its
partners, members or shareholders, or any Affiliate of any of them, as a division or part of
it, and has not identified itself and shall not identify itself as a division of any other
Person (except to the extent such treatment may be required under the federal income tax law
and similar state law for disregarded entities);

(dd) each of Grantor and any Required SPE has not entered into or been a party to, and
will not enter into or be a party to, any transaction with its partners, members,
shareholders or Affiliates except in the ordinary course of its business and on terms which
are intrinsically fair, commercially reasonable and are no less favorable to it than would
be obtained in a comparable arm’s-length transaction with an unrelated third party;

(ee) each of Grantor and any Required SPE does not and will not have any of its
obligations guaranteed by any Affiliate except as otherwise required in the Loan Documents;
and

(ff) each of Grantor and any Required SPE has complied and will comply with all of the
terms and provisions contained in its organizational documents. The statement of facts
contained in its organizational documents are true and correct and will remain true and
correct.

For purposes of the foregoing:

“Affiliate” means any Person controlling, under common control with, or controlled by the
Person in question.

“Control” means the possession, directly or indirectly, of the power to direct or cause the
direction of management, policies or activities of a person or entity, whether through ownership of
voting securities, by contract or otherwise

“Person” or “Persons” shall mean any individual, corporation, partnership, joint venture,
limited liability company, estate, trust, unincorporated association, any federal, state, county or
municipal government or any bureau, department or agency thereof and any fiduciary acting in such
capacity on behalf of any of the foregoing.

“Special Purpose Entity” shall mean a limited partnership, limited liability company or
corporation which, at all times until the Indebtedness is paid and all Obligations are satisfied,
meets all of the requirements of this Paragraph 17.

18. Grantor and Lien Not Released. Without affecting the liability of Grantor or any
other person liable for the payment of the Indebtedness, and without affecting the lien or charge
of this Deed of Trust as security for the payment of the Indebtedness, Beneficiary may, from time
to time and without notice to any junior lien holder or holder of any right or other interest in
and to the Property: (a) release any person so liable, (b) waive or modify any provision of this
Deed of Trust or the other Loan Documents or grant other indulgences, (c) release all or any part
of the Property, (d) take additional security for any obligation herein mentioned, (e) subordinate
the lien or charge of this Deed of Trust, (f) consent to the granting of any easement, or
(g) consent to any map or plan of the Property.

19. Uniform Commercial Code Security Agreement and Fixture Filing. This Deed of Trust
shall constitute a security agreement and fixture filing pursuant to the Uniform Commercial Code in
effect from time to time for any of the items specified herein as part of the Property which, under
applicable law, may be subject to a security interest pursuant to the Uniform Commercial Code
(collectively, the “Collateral”), and Grantor hereby, pursuant to the terms of this Deed of Trust,
grants Beneficiary a security interest in the Collateral. Any reproduction of this Deed of Trust
or of any other security agreement or financing statement shall be sufficient as a financing
statement. In addition, Grantor authorizes Beneficiary to file on its behalf any financing
statements, as well as extensions, renewals and amendments thereof, and reproductions of this Deed
of Trust in such form as Beneficiary may require to perfect the security interest in respect to
said items. In addition, Grantor agrees to execute and deliver to Beneficiary any financing
statements, as well as extensions, renewals and amendments thereof, and reproductions of this Deed
of Trust in such form as Beneficiary may require to perfect a security interest with respect to
said items. Grantor shall pay all costs of filing such financing statements and any extensions,
renewals, amendments and releases thereof, and shall pay all reasonable costs and expenses of any
record searches for financing statements Beneficiary may reasonably require. Grantor shall, at
Beneficiary’s request, at any time and from time to time, execute and deliver to Beneficiary such
financing statements, amendments and other documents and do such acts as Beneficiary deems
necessary in order to establish and maintain valid, attached and perfected first security interests
in the Collateral in favor of Beneficiary, free and clear of all liens, claims and rights of third
parties whatsoever. Grantor hereby irrevocably authorizes Beneficiary at any time, and from time
to time, to execute and file in any jurisdiction any initial financing statements and amendments
thereto that (a) indicate the Collateral (i) as all assets of the Grantor or words of similar
effect, regardless of whether any particular asset comprised in the Collateral falls within the
scope of Article 9 of the Uniform Commercial Code of the jurisdiction wherein such financing
statement or amendment is filed, or (ii) as being of an equal or lesser scope or within greater
detail, and (b) contain any other information required by Section 5 of Article 9 of the Uniform
Commercial Code of the jurisdiction wherein such financing statement or amendment is filed
regarding the sufficiency or filing office acceptance of any financing statement or amendment,
including (i) whether the Grantor is an organization, the type of organization and any organization
identification number issued to the Grantor, and (ii) in the case of a financing statement filed as
a fixture filing or indicating Collateral as as-extracted collateral or timber to be cut, a
sufficient description of real property to which the Collateral relates. Grantor agrees to furnish
any such information to Beneficiary promptly upon request. Grantor further ratifies and affirms
its authorization for any financing statements and/or amendments thereto, executed and filed by
Beneficiary in any jurisdiction prior to the date of this Deed of Trust. In addition, Grantor
covenants to: (w) obtain acknowledgments from any bailee holding Collateral; (x) obtain consents
from any letter of credit issuers; (y) notify and take steps to perfect Beneficiary’s security
interest in any Commercial Tort Claims; and (z) take any action necessary to vest control in
Beneficiary of any of Grantor’s Electronic Chattel Paper. If an Event of Default shall occur,
Beneficiary, in addition to any other rights and remedies which it may have, shall have and may
exercise immediately and without demand, any and all rights and remedies granted to a secured party
upon default under the Uniform Commercial Code, including without limitation, the right to take
possession of the Collateral or any part thereof, and to take such other measures as Beneficiary
may deem necessary for the care, protection and preservation of the Collateral. Upon request or
demand of Beneficiary, Grantor shall, at its expense, assemble the Collateral and make it available
to Beneficiary at a convenient place acceptable to Beneficiary and Grantor. Grantor shall pay to
Beneficiary on demand any and all expenses, including legal expenses and attorneys’ fees, incurred
or paid by Beneficiary in protecting the interest in the Collateral and in enforcing the rights
hereunder with respect to the Collateral. Any notice of sale, disposition or other intended action
by Beneficiary, with respect to the Collateral, sent to Grantor in accordance with the provisions
hereof at least ten (10) days prior to such action, shall constitute commercially reasonable notice
to Grantor. Capitalized words and phrases used herein in this Paragraph 19 and not otherwise
defined herein shall have the respective meanings assigned to such terms in either: (i) Article 9
of the Uniform Commercial Code as in force in Illinois at the time the financing statement was
filed by Beneficiary, or (ii) Article 9 as in force at any relevant time in Illinois, the meaning
to be ascribed thereto with respect to any particular item of property shall be that under the more
encompassing of the two definitions.

THIS DEED OF TRUST SHALL BE EFFECTIVE AS A FINANCING STATEMENT FILED AS A FIXTURE FILING IN
THE REAL ESTATE RECORDS OF THE COUNTY WHERE THE PROPERTY IS LOCATED WITH RESPECT TO ALL GOODS
CONSTITUTING A PART OF THE PROPERTY WHICH ARE OR ARE TO BECOME FIXTURES RELATED TO THE PROPERTY.
FOR PURPOSES OF THE UNIFORM COMMERCIAL CODE THE FOLLOWING INFORMATION IS FURNISHED:

	 	a.	 	Name and address of the record owner of the real estate
described in this Deed of Trust:

NNN Lenox Medical, LLC

1551 N. Tustin Avenue, Suite 300

Santa Ana, California 92705

	 	b.	 	Name and address of the debtor (Grantor):

NNN Lenox Medical, LLC

1551 N. Tustin Avenue, Suite 300

Santa Ana, California 92705

	 	c.	 	Name and address of the secured party (Beneficiary):

LaSalle Bank National Association

135 South LaSalle Street

Suite 3410

Chicago, Cook County, Illinois 60603

	 	d.	 	Information concerning the security interest evidenced by this
Deed of Trust may be obtained from the secured party.

	 	e.	 	This Deed of Trust covers goods which are or are to become
fixtures.

20. Events of Default; Acceleration of Indebtedness; Remedies. The occurrence of any
one or more of the following events shall constitute an “Event of Default” under this Deed of
Trust:

(a) failure of Grantor to pay (i) within 5 days of the due date, any of the
Indebtedness, including any payment due under the Note or (ii) the outstanding Indebtedness,
including all accrued and unpaid interest, in full on the Maturity Date; or

(b) failure of Grantor to provide Beneficiary with evidence of renewal of any insurance
required hereunder within 10 days of Beneficiary’s request therefore, or

(c) failure of Grantor to pay when due any taxes, assessments and other similar charges
levied against the Property, or ground rents, if applicable, except to the extent sums
sufficient to pay such amounts have been escrowed with Beneficiary as required under
Paragraph 3 and Grantor has given notice of such amounts due to Beneficiary; or

(d) failure of Grantor to strictly comply with Paragraphs 15, 16 and 17 of this Deed of
Trust; or

(e) failure of Grantor to comply with the financial reporting requirements of
Paragraph 10 within 10 days after notice from Beneficiary; or

(f) a petition under any Chapter of Title 11 of the United States Code or any similar
law or regulation is filed by or against Grantor or any Guarantor (and in the case of an
involuntary petition in bankruptcy, which petition is not discharged within sixty (60) days
of its filing), or a custodian, receiver or trustee for any of the Property is appointed, or
Grantor or any Guarantor makes an assignment for the benefit of creditors, or any of them
are adjudged insolvent by any state or federal court of competent jurisdiction, or an
attachment or execution is levied against any of the Property (individually or collectively,
a “Bankruptcy Default”), provided, however, in the event that Grantor is comprised of more
than one Tenants in Common and pursuant to a buy/sell provision in the applicable TIC
Agreement, the defaulting Tenant in Common transfers its interest in the Property to a
non-defaulting Tenant in Common within sixty (60) days, no Bankruptcy Default shall be
deemed to have occurred; or

(g) the occurrence of an “Event of Default” under and as defined in any other Loan
Document; or

(h) Grantor is in default in the payment of any indebtedness (other than the
Indebtedness) and such default is declared and is not cured within the time, if any,
specified therefor in any agreement governing the same; or

(i) any statement, report or certificate made or delivered to Beneficiary by Grantor or
any Guarantor is not materially true and complete, or any representation or warranty made or
delivered to Beneficiary by Grantor or any Guarantor is not materially true and correct; or

(j) seizure or forfeiture of the Property, or any portion thereof, or Grantor’s
interest therein, resulting from criminal wrongdoing or other unlawful action of Grantor,
its affiliates, or any tenant in the Property under any federal, state or local law; or

(k) failure of Grantor, within 30 days after notice and demand, to satisfy each and
every Obligation, other than those set forth in the subparagraphs above; provided, however,
if such failure to satisfy such Obligation cannot by its nature be cured within 30 days, and
if Grantor commences to cure such failure promptly after written notice thereof and
thereafter diligently pursues the curing thereof (and then in all events cures such failure
within 60 days after the original notice thereof), Grantor shall not be in default hereunder
during such period of diligent curing;

(l) the termination of the Property Manager or modification or termination of the
Management Agreement or TIC Agreement without the prior written consent of the Beneficiary;
or

(m) in the event that Grantor is comprised of more than one Tenants in Common, the
filing by a Tenant in Common of an action to partition all or any portion of the Property or
any action to compel any sale thereof (individually or collectively, a “Partition Default”),
provided, however, if pursuant to a buy/sell provision in the applicable TIC Agreement, the
defaulting Tenant in Common transfers its interest in the Property to a non-defaulting
Tenant in Common within sixty (60) days, no Partition Default shall be deemed to have
occurred.

Upon the occurrence of an Event of Default, the Indebtedness, at the option of the
Beneficiary, shall become immediately due and payable without notice to Grantor; and Beneficiary
shall be entitled to immediately exercise and pursue any or all of the rights and remedies
contained in this Deed of Trust and any other Loan Document or otherwise available at law or in
equity. Each remedy provided in the Loan Documents is distinct and cumulative to all other rights
or remedies under the Loan Documents or afforded by law or equity, and may be exercised
concurrently, independently, or successively, in any order whatsoever.

21. Entry; Foreclosure; Remedies. Upon the occurrence of an Event of Default,
(a) Grantor, upon demand of Beneficiary, shall forthwith surrender to Beneficiary the actual
possession, or to the extent permitted by law, Beneficiary itself, or by such officers or agents as
it may appoint, may enter and take possession of all or any part of the Property, and may exclude
Grantor and its agents and employees wholly therefrom, and may have joint access with Grantor to
the books, papers and accounts of Grantor; and (b) if Grantor shall for any reason fail to
surrender or deliver the Property or any part thereof after such demand by Beneficiary, Beneficiary
may obtain a judgment or decree conferring on Beneficiary the right to immediate possession or
requiring the delivery to Beneficiary of the Property, and Grantor specifically consents to the
entry of such judgment or decree. Upon every such entering upon or taking of possession,
Beneficiary may hold, store, use, operate, manage and control the Property and conduct the business
thereof. Beneficiary shall have no liability for any loss, damage, injury, cost or expense
resulting from any action or omission by it or its representatives which was taken or omitted in
good faith.

Upon any foreclosure sale, Beneficiary may bid for and purchase the Property and shall be
entitled to apply all or part of the Indebtedness as a credit to the purchase price.

Upon the occurrence of an Event of Default, then, without notice to or the consent of Grantor,
Beneficiary shall be entitled to immediately exercise or pursue or cause to be exercised or pursued
any or all of the rights and remedies contained in this Deed of Trust or in any other Loan Document
or otherwise available at law or in equity including the right to do any one or more of the
following:

(a) Trustee, at the request of Beneficiary, and after publishing notice of the time and
place of sale at least three (3) different times in some newspaper published in a county in
which the Property is located, the first of which publications shall be at least twenty (20)
days prior to said sale, shall proceed to sell the Property, at public auction for cash.
The Trustee shall apply the proceeds from such sale as provided in Section 23 below. In the
event of any sale under this Deed of Trust or pursuant to any order in any judicial
proceedings or otherwise, the Property or any part thereof may be sold, in one parcel or in
such parcels, manner or order as Beneficiary, in its sole discretion, may direct. At
Beneficiary’s option, a sale may be conducted alternately as a single parcel and in tracts,
to be closed under whichever method yields a greater total price. If the Property is
located in two or more counties, it may all be sold in one of the counties if Trustee so
elects. Otherwise, the sale shall occur in the county in which the Property is located
unless Trustee, in his/her reasonable discretion, elects to conduct the sale elsewhere. The
sale shall be held at such location in the county as the foreclosure notice may specify.
One or more exercises of the power of sale provided for herein shall not extinguish or
exhaust said power until the entire Property has been sold or the Indebtedness has been paid
in full. Trustee is hereby released from all obligations imposed by statute which can be
waived, including any requirement of qualification or bond. It is agreed that Beneficiary,
in the event of any sale of the Property, may bid and buy as any third person might, but
Beneficiary shall not be required to present cash at the sale except to the extent, if any,
by which Beneficiary’s bid exceeds the amount of the Indebtedness, including all expenses of
collection and sale provided for herein. Trustee may delegate, in his/her sole discretion,
any authority possessed under this Deed of Trust, including the authority to conduct a
foreclosure sale. Without limiting the foregoing, Trustee may retain a professional
auctioneer to preside over the bidding, and the customary charge for the auctioneer’s
services shall be paid from sale proceeds as an expense of sale. If prior to or at any
foreclosure sale a third party represents to the Trustee in writing that such party holds
the next junior lien to this Deed of Trust (whether by judgment lien, junior deed of trust,
or otherwise), the Trustee may disburse surplus proceeds to such third party in an amount
not to exceed the amount of lien alleged by the third party in its written statement to the
Trustee. A foreclosure sale may be adjourned by Trustee and may be reset at a later time
and/or date by announcement at the time and place of the originally advertised sale and
without any further publication. The foreclosure sale of the Property shall be conducted
for cash to be tendered upon the conclusion of the bidding; provided, however, 1. Trustee
may accept a check issued or certified by a local bank as consideration for the sale and 2.
if, in his/her sole discretion, Trustee announces before or after bidding that, upon the
failure of the high bidder to complete the sale for cash within one (1) hour, the Property
may be sold to the second highest bidder, and if the high bidder should subsequently fail to
complete the purchase within that time, then Trustee may, at his/her option, close the sale
of the Property to the second highest bidder. Grantor further agrees that, in the event of
any sale hereunder, it will at once surrender possession of the Property, will from the
moment of sale be the tenant-at-will of the purchaser, will be removable by process and will
be liable to pay said purchaser the reasonable rental value of said Property after such
sale. Beneficiary or Trustee may, after default, advise third parties of the amount (or
estimated amount) of principal, interest and expenses that will be outstanding as of the
date of any foreclosure sale and may share any other available information regarding the
Property. Following the occurrence of a default hereunder, any “release” provision included
herein or in any other document whereby Beneficiary agreed to release all or part of the
Property upon the payment of less than all of the Indebtedness shall become void and
Beneficiary shall no longer be obligated to release any of the Property until the
Indebtedness has been paid in full. Grantor agrees that Grantor will not bid at any sale
hereunder and will not allow others to bid on Grantor’s behalf unless, at the time of sale,
Grantor has cash sufficient to pay at the sale the amount of Grantor’s bid.

(b) To enter upon, take possession of and manage the Property for the purpose of
collecting the Rents;

(c) To require Grantor to hold all Rents collected in trust for the benefit of
Beneficiary;

(d) To dispossess by the usual summary proceedings any Tenant defaulting in the payment
of Rent to Grantor;

(e) To lease the Property or any part thereof;

(f) To repair, restore, and improve the Property;

(g) To foreclose this Deed of Trust

(h) Apply to any court of competent jurisdiction for specific performance of this Deed
of Trust, an injunction against the violation hereof and/or the appointment of a receiver
which appointment is hereby consented to by the Grantor;

(i) Apply to any court of competent jurisdiction for specific performance of this Deed
of Trust, an injunction against the violation hereof and/or the appointment of a receiver;
and

(j) To foreclose this Deed of Trust by judicial or non-judicial process.

The foregoing remedies shall be cumulative of any other nonjudicial remedies available to
Beneficiary under this Deed of Trust or the other Loan Documents, at law or in equity. Proceeding
with a request or receiving a judgment for legal relief shall not be or be deemed to be an election
of remedies or bar any available nonjudicial remedy of Beneficiary.

22. Expenditures and Expenses. Grantor acknowledges and confirms that Beneficiary
shall impose certain administrative processing and/or commitment fees in connection with (a) the
extension, renewal, modification, amendment and termination of its loans, (b) the release or
substitution of collateral therefor, (c) obtaining certain consents, waivers and approvals with
respect to the Property, or (d) the review of any Lease or proposed Lease or the preparation or
review of any subordination, non-disturbance and attornment agreement. In addition, in any civil
action to foreclose the lien hereof or otherwise enforce Beneficiary’s rights, there shall be
allowed and included as additional Indebtedness in the order or judgment for foreclosure and sale
or other order all expenditures and expenses which may be paid or incurred by or on behalf of
Beneficiary including attorneys’ fees, costs and expenses, receiver’s fees, costs and expenses,
appraiser’s fees, engineers’ fees, outlays for documentary and expert evidence, stenographers’
charges, publication costs, and costs (which may be estimates as to items to be expended after
entry of said order or judgment) of procuring all such abstracts of title, title searches and
examination, title insurance policies, Torrens’ Certificates and similar data and assurances with
respect to the title as Beneficiary may deem reasonably necessary either to prosecute such civil
action or to evidence to bidders at any sale which may be had pursuant to such order or judgment
the true condition of the title to, or the value of, the Property (all said expenditures and
expenses are hereinafter collectively referred to as the “Reimbursable Expenses”). All
Reimbursable Expenses, and such costs, expenses and fees as may be incurred by Beneficiary at any
time or times hereafter in the protection of the Property, in enforcing the Obligations, and/or the
maintenance of the lien established by any of the Loan Documents, including accountants’ and
attorneys’ fees, costs and expenses in any advice, litigation, or proceeding affecting the Loan
Documents or the Property, whether instituted by Beneficiary, Grantor or any other party, or in
preparation for the commencement or defense of any action or proceeding or threatened action or
proceeding, shall be immediately due and payable to Beneficiary by Grantor, and, to the extent such
services relate to the Hazardous Substances Indemnification Agreement of even date herewith from
Grantor and Guarantors in favor of Beneficiary, by Grantor and Guarantors, with interest thereon at
the Default Rate set forth in the Note, and shall be secured by the Loan Documents. In addition,
Grantor shall be liable for the payment of all commissions and brokerage fees relating to the Loan.

23. Application of Proceeds of Foreclosure Sale. The proceeds of any foreclosure sale
of the Property shall be distributed and applied in the order of priority set forth in the Note
with the excess, if any, being applied to any parties entitled thereto as their rights may appear.

24. Appointment of Receiver or Mortgagee in Possession. If an Event of Default is
continuing or if Beneficiary shall have accelerated the Indebtedness, Beneficiary, upon application
to a court of competent jurisdiction, shall be entitled as a matter of strict right, without
notice, and without regard to the occupancy or value of any security for the Indebtedness, without
any showing of fraud or mismanagement on the part of Grantor or the insolvency of any party bound
for its payment, without regard to the existence of a declaration that the Indebtedness, or any
portion thereof, is immediately due and payable, and without regard to the filing of a notice of
default, to the appointment of a receiver or the immediate appointment of Beneficiary to take
possession of and to operate the Property, and to collect and apply the rents, issues, profits and
revenues thereof, and Grantor consents to such appointment.

25. Forbearance by Beneficiary Not a Waiver. Any forbearance by Beneficiary in
exercising any right or remedy under any of the Loan Documents, or otherwise afforded by applicable
law, shall not be a waiver of or preclude the exercise of any right or remedy. Beneficiary’s
acceptance of payment of any sum secured by any of the Loan Documents after the due date of such
payment shall not be a waiver of Beneficiary’s right to either require prompt payment when due of
all other sums so secured or to declare a default for failure to make prompt payment. The
procurement of insurance or the payment of taxes or other liens or charges by Beneficiary shall not
be a waiver of Beneficiary’s right to accelerate the maturity of the Indebtedness, nor shall
Beneficiary’s receipt of any awards, proceeds or damages under Paragraph 5 hereof operate to cure
or waive Grantor’s default in payment or sums secured by any of the Loan Documents. With respect
to all Loan Documents, only waivers made in writing by Beneficiary shall be effective against
Beneficiary.

26. Waiver of Statute of Limitations. Grantor hereby waives the right to assert any
statute of limitations as a bar to the enforcement of the lien created by any of the Loan Documents
or to any action brought to enforce the Note or any other obligation secured by any of the Loan
Documents.

27. Waiver of Appraisement, Valuation, Etc. Grantor agrees, to the full extent
permitted by law, that in case of a Default on the part of Grantor hereunder, neither Grantor nor
anyone claiming through or under Grantor hereunder will set up, claim or seek to take advantage of
any appraisement, valuation, stay, extension, homestead, exemption or redemption laws now or
hereafter in force, in order to prevent or hinder the enforcement or foreclosure of this Security
Instrument, or the absolute sale of the Property, or the delivery of possession thereof immediately
after such sale to the purchaser at such sale, and Grantor, for itself and all who may at any time
claim through or under it, hereby waives and renounces to the full extent that it may lawfully so
do so, the benefit of all such laws, and any and all right to have the assets subject to the
security interest of this Deed of Trust marshaled upon any foreclosure or sale under the power
herein granted. Without limiting the generality of the foregoing, this waiver is intended to
include a waiver of all homestead and exemption rights provided for by the Constitution and the
laws of the United States and of any state, including but not limited to the equity of redemption
and the statutory right of redemption and all rights of Grantor expressed in T.C.A. § 66-8-101, et
seq., as the same may be amended from time to time.

28. Jury Trial Waiver. GRANTOR AND BENEFICIARY BY ITS ACCEPTANCE OF THIS DEED OF
TRUST, EACH HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ITS RESPECTIVE RIGHT TO A TRIAL
BY JURY IN ANY ACTION OR PROCEEDING BASED UPON, OR RELATED TO, THE SUBJECT MATTER OF THE LOAN
DOCUMENTS AND THE BUSINESS RELATIONSHIP THAT IS BEING ESTABLISHED. THIS WAIVER IS KNOWINGLY,
INTENTIONALLY AND VOLUNTARILY MADE BY GRANTOR AND BY BENEFICIARY, AND GRANTOR ACKNOWLEDGES ON
BEHALF OF ITSELF AND ITS PARTNERS, MEMBERS, SHAREHOLDERS, AS THE CASE MAY BE, THAT NEITHER
BENEFICIARY, TRUSTEE NOR ANY PERSON ACTING ON BEHALF OF BENEFICIARY OR TRUSTEE HAS MADE ANY
REPRESENTATIONS OF FACT TO INDUCE THIS WAIVER OF TRIAL BY JURY OR HAS TAKEN ANY ACTIONS WHICH IN
ANY WAY MODIFY OR NULLIFY ITS EFFECT. GRANTOR AND BENEFICIARY ACKNOWLEDGE THAT THIS WAIVER IS A
MATERIAL INDUCEMENT TO ENTER INTO A BUSINESS RELATIONSHIP, THAT GRANTOR AND BENEFICIARY HAVE
ALREADY RELIED ON THIS WAIVER IN ENTERING INTO THE LOAN DOCUMENTS AND THAT EACH OF THEM WILL
CONTINUE TO RELY ON THIS WAIVER IN THEIR RELATED FUTURE DEALINGS. GRANTOR AND BENEFICIARY FURTHER
ACKNOWLEDGE THAT THEY HAVE BEEN REPRESENTED (OR HAVE HAD THE OPPORTUNITY TO BE REPRESENTED) IN THE
SIGNING OF THE LOAN DOCUMENTS AND IN THE MAKING OF THIS WAIVER BY INDEPENDENT LEGAL COUNSEL,
SELECTED OF THEIR OWN FREE WILL AND THAT THEY HAVE HAD THE OPPORTUNITY TO DISCUSS THIS WAIVER WITH
COUNSEL.

29. Indemnification. In addition to any other indemnifications provided in any of the
other Loan Documents, Grantor shall, at its sole cost and expense, protect, defend, indemnify,
release and save harmless Beneficiary, Trustee or any person or entity who is or will have been
involved in the servicing of this Loan, as well as the respective affiliates, subsidiaries, persons
controlling or under common control, directors, officers, shareholders, members, partners,
employees, agents, servants, representatives, contractors, subcontractors, participants, successors
and assigns of any and all of the foregoing (collectively, the “Indemnified Parties”), from and
against all liabilities, obligations, claims, demands, damages, penalties, causes of action,
losses, fines, costs and expenses (including without limitation reasonable attorneys’ fees and
expenses), imposed upon or incurred by or asserted against any of the Indemnified Parties and
directly or indirectly arising out of or in any way relating to any one or more of the following:
(a) ownership of this Deed of Trust, the Property or any interest therein or receipt of any Rents;
(b) any amendment to, or restructuring of, the Indebtedness, the Note, this Deed of Trust or any
other Loan Documents; (c) any and all lawful action that may be taken by Beneficiary or Trustee in
connection with the enforcement of the provisions of this Deed of Trust or the Note or any other
Loan Documents, whether or not suit is filed in connection with same, or in connection with Grantor
or any Guarantor becoming a party to a voluntary or involuntary federal or state bankruptcy,
insolvency or similar proceeding; (d) any accident, injury to or death of persons or loss of or
damage to property occurring in, on or about the Property or any part thereof or on the adjoining
sidewalks, curbs, adjacent property or adjacent parking areas, streets or ways; (e) any failure on
the part of Grantor to perform or comply with any of the terms of this Deed of Trust; (f)
performance of any labor or services or the furnishing of any materials or other property in
respect of the Property or any part thereof; (g) any failure of the Property to comply with any
laws or ordinances affecting or which may be interpreted to affect the Property; or (h) any
representation or warranty made in the Note, this Deed of Trust or the other Loan Documents being
false or misleading in any respect as of the date such representation or warranty was made. The
obligations and liabilities of Grantor under this Paragraph 29 (A) shall survive for a period of
two (2) years following any release of this Deed of Trust executed by Beneficiary and satisfaction
of the Loan evidenced by the Loan Documents, and (B) shall survive the transfer or assignment of
this Deed of Trust, the entry of a judgment of foreclosure, sale of the Property by nonjudicial
foreclosure sale, or delivery of a deed in lieu of foreclosure (including, without limitation, any
transfer by Grantor of any of its rights, title and interest in and to the Property to any party,
whether or not affiliated with Grantor); provided, however, that any act or omission pursuant to
subparagraphs (a) through (h) above was taken or occurred prior to the payment in full of the
Indebtedness.

30. Duty to Defend. Upon written request by an Indemnified Party, Grantor shall
defend such Indemnified Party (if requested by an Indemnified Party, in the name of the Indemnified
Party) by attorneys and other professionals approved by the Indemnified Parties. Notwithstanding
the foregoing, any Indemnified Parties may, in their sole and absolute discretion, engage their own
attorneys and other professionals to defend or assist them, and, at the option of the Indemnified
Parties, their attorneys shall control the resolution of the claim or proceeding. Upon demand,
Grantor shall pay or, in the sole and absolute discretion of the Indemnified Parties, reimburse,
the Indemnified Parties for the payment of reasonable fees and disbursements of attorneys,
engineers, and other professionals in connection therewith. Any amounts payable to any of the
Indemnified Parties by reason of the application of Paragraph 29 or this paragraph shall be secured
by this Deed of Trust and shall become immediately due and payable and shall bear interest at the
Default Rate specified in the Note from the date loss or damage is sustained by any of the
Indemnified Parties until paid.

31. ERISA. Grantor covenants and agrees that during the term of the Loan, (a) Grantor
is not a and will not become a “party in interest” as defined in Section 3(14) of the Employee
Retirement Income Security Act of 1974, as amended, with respect to any employee benefit plan, (b)
Grantor will take no action that would cause it to (i) become an “employee benefit plan” or (ii)
otherwise be considered “plan assets” as defined in 29 C.F.R. Section 2510.3-101, or “assets of a
governmental plan” subject to regulation under the state statutes, and (c) Grantor will not sell,
assign or transfer the Property, or any portion thereof or interest therein, to any transferee that
does not execute and deliver to Beneficiary its written assumption of the obligations of this
covenant. Grantor further covenants and agrees to protect, defend, indemnify and hold Beneficiary
harmless from and against all loss, cost, damage and expense (including without limitation, all
attorneys’ fees and excise taxes, costs of correcting any prohibited transaction or obtaining an
appropriate exemption) that Beneficiary may incur as a result of Grantor’s breach of this covenant.
This covenant and indemnity shall survive the extinguishment of the lien of this Deed of Trust by
foreclosure or action in lieu thereof; furthermore, the foregoing indemnity shall supersede any
limitations on Grantor’s liability under any of the Loan Documents.

32. No Oral Change. This Deed of Trust may not be modified, amended, waived,
extended, changed, discharged or terminated orally or by any act or failure to act on the part of
Grantor or Beneficiary, but only by an agreement in writing signed by the party against whom
enforcement of any modification, amendment, waiver, extension, change, discharge or termination is
sought.

33. Notice. Except for any notice required under applicable law to be given in
another manner, (a) any notice to Grantor provided for in the Loan Documents shall be given by
mailing such notice by Federal Express or any other nationally recognized overnight carrier
addressed to Grantor at Grantor’s address stated above or at such other address as Grantor may
designate by notice to Beneficiary or Trustee as provided herein, and (b) any notice to Trustee or
Beneficiary shall be given by Federal Express or any other nationally recognized overnight carrier
to Trustee’s or Beneficiary’s address stated above or to such other address as Trustee or
Beneficiary may designate by notice to Grantor as provided herein. Any notice provided for in the
Loan Documents shall be deemed to have been given to Grantor, Trustee or Beneficiary on the first
Business Day following such mailing in the manner designated herein. In addition, notice may also
be given by first class certified mail, return receipt requested, postage prepaid, addressed to the
address set forth above for the party to whom such notice is to be given and such notice given in
this manner shall be deemed received the third day after such notice was deposited with the United
States Postal Service.

34. Successors and Assigns Bound; Joint and Several Liability; Agents; Captions. The
covenants and agreements contained in the Loan Documents shall bind, and the rights thereunder
shall inure to, the respective successors and assigns of Trustee, Beneficiary and Grantor, subject
to the provisions of Paragraph 15 hereof. All representations, warranties, covenants and
agreements of Grantor contained in the Loan Documents shall be joint and several. In exercising
any rights under the Loan Documents or taking any actions provided for therein, Trustee or
Beneficiary may act through its employees, agents, or independent contractors as authorized by
Trustee or Beneficiary, respectively. The captions and headings of the paragraphs of this Deed of
Trust are for convenience only and are not to be used to interpret or define the provisions hereof.

35. Governing Law; Jurisdiction; Severability. THE PROVISIONS OF THIS INSTRUMENT
REGARDING (i) THE CREATION, PERFECTION AND ENFORCEMENT OF THE LIENS AND SECURITY INTERESTS HEREIN
GRANTED AND (ii) THE TRUSTEE, SHALL BE GOVERNED BY AND CONSTRUED UNDER THE LAWS OF THE STATE OF
TENNESSEE. ALL OTHER PROVISIONS OF THIS INSTRUMENT AND THE RIGHTS AND OBLIGATIONS OF GRANTOR AND
BENEFICIARY SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS
OF THE STATE OF ILLINOIS. THIS DEED OF TRUST SHALL BE GOVERNED BY, CONSTRUED, APPLIED AND ENFORCED
IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF ILLINOIS, WITHOUT REGARD TO CONFLICTS OF LAW
PRINCIPLES, AND GRANTOR AGREES THAT THE PROPER VENUE FOR ANY MATTERS IN CONNECTION HEREWITH SHALL
BE IN THE STATE OR FEDERAL COURTS LOCATED IN CHICAGO, ILLINOIS, AS BENEFICIARY MAY ELECT AND
GRANTOR HEREBY SUBMITS ITSELF TO THE JURISDICTION OF SUCH COURTS FOR THE PURPOSE OF ADJUDICATING
ANY MATTERS RELATED TO THE LOAN, PROVIDED, HOWEVER, THAT TO THE EXTENT THE MANDATORY PROVISIONS OF
THE LAWS OF ANOTHER JURISDICTION RELATING TO (i) THE PERFECTION OR THE EFFECT OF PERFECTION OR
NON-PERFECTION OF THE SECURITY INTERESTS IN ANY OF THE PROPERTY, (ii) THE LIEN, ENCUMBRANCE OR
OTHER INTEREST IN THE PROPERTY GRANTED OR CONVEYED BY THIS DEED OF TRUST, OR (iii) THE AVAILABILITY
OF AND PROCEDURES RELATING TO ANY REMEDY HEREUNDER OR RELATED TO THIS DEED OF TRUST ARE REQUIRED TO
BE GOVERNED BY SUCH OTHER JURISDICTION’S LAWS, SUCH OTHER LAWS SHALL BE DEEMED TO GOVERN AND
CONTROL. THE INVALIDITY, ILLEGALITY OR UNENFORCEABILITY OF ANY PROVISION OF THIS DEED OF TRUST OR
THE LOAN DOCUMENTS SHALL NOT AFFECT OR IMPAIR THE VALIDITY, LEGALITY OR ENFORCEABILITY OF THE
REMAINDER OF THIS DEED OF TRUST AND THE OTHER LOAN DOCUMENTS, AND TO THIS END, THE PROVISIONS OF
THIS DEED OF TRUST AND THE OTHER LOAN DOCUMENTS ARE DECLARED TO BE SEVERABLE.

36. Release. Upon payment of all sums secured by this Deed of Trust, Beneficiary
shall cause Trustee to release this Deed of Trust. Grantor shall pay Beneficiary’s and Trustee’s
reasonable costs incurred in releasing this Deed of Trust and any financing statements related
hereto.

37. Covenants Running with the Land. All covenants, conditions, warranties,
representations and other obligations contained in this Deed of Trust and the other Loan Documents
are intended by Grantor and Beneficiary to be, and shall be construed as, covenants running with
the Property until the lien of this Deed of Trust has been fully released by Beneficiary.

38. Terms. As used in the Loan Documents, (i) “Business Day” means a day when banks
are not required or authorized to be closed in Chicago, Illinois or New York, New York; and
(ii) the words “include” and “including” shall mean “including but not limited to” unless
specifically set forth to the contrary.

39. Loss of Note. Upon notice from Beneficiary of the loss, theft, or destruction of
the Note and upon receipt of indemnity reasonably satisfactory to Grantor from Beneficiary, or in
the case of mutilation of the Note, upon surrender of the mutilated Note, Grantor shall make and
deliver a new note of like tenor in lieu of the then to be superseded Note.

40. Changes in the Laws Regarding Taxation. If any law is amended, enacted or adopted
after the date of this Deed of Trust which deducts the Indebtedness from the value of the Property
for the purpose of taxation or which imposes a tax, either directly or indirectly, on the
Indebtedness of Beneficiary’s interest in the Property, Grantor will pay such tax, with interest
and penalties thereon, if any. In the event Beneficiary is advised by counsel chosen by it that
the payment of such tax or interest and penalties by Grantor would be unlawful or taxable to
Beneficiary or unenforceable or provide the basis for a defense of usury, then in any such event,
Beneficiary shall have the option, by written notice of not less than forty-five (45) days, to
declare the Indebtedness immediately due and payable.

41. Substitution of Trustee. Beneficiary may, from time to time by written instrument
executed and acknowledged by Beneficiary and recorded in the county or counties where the Property
is located, and by otherwise complying with the provisions of any applicable statutes, substitute a
successor or successors for the Trustee named herein or acting hereunder. Any fees or expenses
payable to Trustee are the obligation of Grantor.

42. Exculpation. This Deed of Trust and other Loan Documents and all of Grantor’s
obligations hereunder and thereunder are subject to the provisions of Paragraph 11 of the Note
entitled Exculpation. All of the provisions of the Note, including Paragraph 11, are incorporated
herein by this reference.

43. Disclosure of Information. Beneficiary shall have the right (but shall be under
no obligation) to make available to any party for the purpose of granting participation in or
selling, transferring, assigning or conveying all or any part of the Loan (including any
governmental agency or authority and any prospective bidder at any foreclosure sale of the
Property) any and all information which Beneficiary may have with respect to the Property,
Lease(s), Grantor and any Guarantor, whether provided by Grantor, any Guarantor or any third party
or obtained as a result of any environmental assessments. Grantor and each Guarantor agree that
Beneficiary shall have no liability whatsoever as a result of delivering any such information to
any third party, and Grantor and each Guarantor, on behalf of themselves and their successors and
assigns, hereby release and discharge Beneficiary from any and all liability, claims, damages, or
causes of action, arising out of, connected with or incidental to the delivery of any such
information to any third party.

44. Sale of Loan; Securitization. Beneficiary may, at any time and without the
consent of Grantor or any Guarantor, grant participation in or sell, transfer, securitize, assign
and convey all or any portion of its right, title and interest in and to the Loan, the servicing of
the Loan, this Deed of Trust, the Note and the other Loan Documents, any guaranties given in
connection with the Loan and any collateral given to secure the Loan. Grantor covenants to
cooperate with Beneficiary’s efforts in the sale, transfer or securitization of the Loan; such
cooperation includes Grantor’s obligations to (a) make non-material modifications of the Loan
Documents (such modifications shall not have a material adverse impact on Grantor and accordingly
such modifications shall not (i) increase the amount of the Indebtedness or (ii) change the
Contract Rate [as defined in the Note]), (b) provide additional information regarding Grantor’s
financial statements, (c) deliver updated information regarding Grantor and the Property, (d)
cooperate with all third parties, including, but not limited to, rating agencies and potential
investors to facilitate the rating and securitization of the Loan, (e) review Beneficiary’s
securitization offering materials to the extent such materials relate to Grantor, the Property or
the Loan, (f) respond to any inquiries of Beneficiary or other party relating thereto and (g)
deliver an estoppel certificate. Grantor agrees to represent and warrant the absence of
misstatements and/or omissions in the information relating to Grantor, the Property and the Loan
that is contained in the offering materials and which has been furnished to or approved by Grantor.
Grantor shall not be liable for Beneficiary’s post-closing costs incurred pursuant to any
securitization of the Loan by Beneficiary. .

Any such sale, transfer, participation, securitization of all or any portion of the Note, this Deed
of Trust and/or other Loan Documentation including, without any limitation, with respect to any
whole loan sale or securitization of the Loan shall be deemed a “Secondary Market Transaction”.

45. Actions and Proceedings. Beneficiary and Trustee have the right to appear in and
defend any action or proceeding brought with respect to the Property and to bring any action or
proceeding, in the name and on behalf of Grantor, which Beneficiary and Trustee, in their
discretion, decide should be brought to protect their respective interests in the Property.
Beneficiary and Trustee shall, at their option, be subrogated to the lien of any deed of trust or
other security instrument discharged in whole or in part by the Indebtedness, and any such
subrogation rights shall constitute additional security for the payment of the Indebtedness.

46. No Third Party Beneficiaries. The provisions of this Deed of Trust and the other
Loan Documents are for the benefit of Grantor and Beneficiary and shall not inure to the benefit of
any third party (other than any successor or assignee of Beneficiary). This Deed of Trust and the
other Loan Documents shall not be construed as creating any rights, claims or causes of action
against Beneficiary or any of its officers, directors, agents or employees in favor of any party
other than Grantor including but not limited to any claims to any sums held in the Replacement
Reserve or the TI and Leasing Reserve.

47. Exhibits and Riders. The following Exhibits and Riders (which may contain
additional representations, warranties, and covenants) are attached to this Deed of Trust and
hereby made a part of this Deed of Trust: Exhibit A (legal description for Land)
Exhibit B (definition of Personal Property), and Exhibit C (pending and threatened
litigation).

48. Customer Identification – USA Patriot Act Notice; OFAC. Beneficiary hereby
notifies Grantor that pursuant to the requirements of the USA Patriot Act (Title III of Pub. L.
107-56, signed into law October 26, 2001), as amended (the “Act”), and Beneficiary’s policies and
practices, Beneficiary is required to obtain, verify and record certain information and
documentation that identifies Grantor, which information includes the name and address of Grantor
and such other information that will allow Beneficiary to identify Grantor in accordance with the
Act. Grantor represents and covenants that it is not and will not become a person (individually, a
“Prohibited Person” and collectively “Prohibited Persons”) listed on the Specially Designated
Nationals and Blocked Persons List maintained by the Office of Foreign Asset Control, U.S.
Department of the Treasury (the “OFAC List”) or otherwise subject to any other prohibitions or
restriction imposed by laws, rules, regulations or executive orders, including Executive Order No.
13224, administered by OFAC (collectively the “OFAC Rules”). Grantor represents and covenants that
it also (a) is not and will not become owned or controlled by a Prohibited Person, (b) is not
acting and will not act for or on behalf of a Prohibited Person, (c) is not otherwise associated
with and will not become associated with a Prohibited Person, (d) is not providing and will not
provide any material, financial or technological support for or financial or other service to or in
support of acts of terrorism or a Prohibited Person. Grantor will not transfer any interest in
Grantor to or enter into a Lease with a Prohibited Person. Grantor shall immediately notify
Beneficiary if Grantor has knowledge that any Guarantor or any member or beneficial owner of
Grantor or any Guarantor is or becomes a Prohibited Person or (i) is indicted on or (ii) arraigned
and held over on charges involving money laundering or predicate crimes to money laundering.
Grantor will not enter into any Lease or any other transaction or undertake any activities related
to the Loan in violation of the federal Bank Secrecy Act, as amended (“BSA”), 31 U.S.C. §5311, et
seq. or any federal or state laws, rules, regulations or executive orders, including, but not
limited to, 18 U.S.C. §§1956, 1957 and 1960, prohibiting money laundering and terrorist financing
(collectively “Anti-Money Laundering Laws”). Grantor shall (A) not use or permit the use of any
proceeds of the Loan in any way that will violate either the OFAC Rules or Anti-Money Laundering
Laws, (B) comply and cause all of its subsidiaries to comply with applicable OFAC Rules and
Anti-Money Laundering Laws, (C) provide information as Beneficiary may require from time to time to
permit Beneficiary to satisfy its obligations under the OFAC Rules and/or the Anti-Money Laundering
Laws and (D) not engage in or conspire to engage in any transaction that evades or avoids, or has
the purpose of evading or avoiding, or attempts to violate, any of the foregoing. Grantor shall
immediately notify Beneficiary if any Tenant becomes a Prohibited Person or (1) is convicted of,
(2) pleads nolo contendere to, (3) is indicted on, or (4) is arraigned and held over on charges
involving money laundering or predicate crimes to money laundering.

49. Counterparts. This Deed of Trust may be executed in any number of counterparts
each of which shall be deemed to be an original but all of which when taken together shall
constitute one agreement.

50. Disclaimers. The relationship of Grantor and Beneficiary under this Deed of Trust
and the other Loan Documents is, and shall at all times remain, solely that of Grantor and
Beneficiary; and Beneficiary neither undertakes nor assumes any responsibility or duty to Grantor
or to any third party with respect to the Property. Notwithstanding any other provisions of this
Deed of Trust and the other Loan Documents: (i) Beneficiary is not, and shall not be construed to
be, a partner, joint venturer, member, alter ego, manager, controlling person or other business
associate or participant of any kind of Grantor and Beneficiary, and Beneficiary does not intend to
ever assume such status; (ii) Beneficiary does not intend to ever assume any responsibility to any
person for the quality, suitability, safety or condition of the Property; and (iii) Beneficiary
shall not be deemed responsible for or a participant in any acts, omissions or decisions of
Grantor.

Beneficiary shall not be directly or indirectly liable or responsible for any loss, claim,
cause of action, liability, indebtedness, damage or injury of any kind or character to any person
or property arising from any construction on, or occupancy or use of, the Property, whether caused
by or arising from: (i) any defect in any building, structure, grading, fill, landscaping, or
other improvements thereon or in any on-site or off-site improvement or other facility therein or
thereon; (ii) any act or omission of Grantor or any of Grantor’s agents, employees, independent
contractors, licensees or invitees; (iii) any accident in or on the Property or any fire, flood, or
other casualty or hazard thereon; (iv) the failure of Grantor or any of Grantor’s licensees,
employees, invitees, agents, independent contractors, or other representatives to maintain the
Property in a safe condition; or (v) any nuisance made or suffered on any part of the Property.

51. Clearing Account. During the term of the Loan, Grantor shall establish and
maintain a segregated account (the “Clearing Account”) with LaSalle Bank National Association
(“Clearing Bank”), in trust for the benefit of Beneficiary, which Clearing Account shall, during a
“Cash Management Period” (as defined in the Cash Management Agreement [as defined below]), be under
the sole dominion and control of Beneficiary. The Clearing Account shall be entitled “NNN Lenox
Medical, LLC, as Borrower and LaSalle Bank National Association, as Lender, pursuant to Deed of
Trust, Security Agreement and Fixture Filing dated as of January 2, 2007 – Clearing Account”. The
Clearing Account shall be an “Eligible Account” (as defined in the Cash Management Agreement) and
shall not be commingled with other monies held by Grantor or Clearing Bank. All monies now or
hereafter deposited into the Clearing Account shall be deemed additional security for the
Indebtedness. Grantor hereby grants to Beneficiary a first priority security interest in the
Clearing Account and all deposits at any time contained therein and the proceeds thereof and will
take all actions necessary to maintain in favor of Beneficiary a perfected first priority security
interest in the Clearing Account. In addition, Grantor hereby authorizes Beneficiary to prepare
and file UCC Financing Statements and continuations thereof. Grantor shall not further pledge,
assign or grant any security interest in the Clearing Account or the monies deposited therein or
permit any lien or encumbrance to attach thereto, or any levy to be made thereon, or any UCC
Financing Statements, except those naming Beneficiary as the secured party, to be filed with
respect thereto.

Grantor shall, or shall cause the Property Manager to, deliver irrevocable written
instructions to all tenants under Leases to deliver all Rents payable thereunder directly to the
Clearing Account. Grantor shall, and shall cause Manager to, deposit all amounts received by
Grantor or Manager constituting Rents into the Clearing Account within one (1) Business Day after
receipt thereof.

During a Cash Management Period, Beneficiary and/or any servicer shall have the sole right to
make withdrawals from the Clearing Account and all costs and expenses for establishing and
maintaining the Clearing Account shall be paid by Grantor. In addition, Grantor shall obtain from
Clearing Bank its agreement during a Cash Management Period to transfer to the Cash Management
Account (defined below) in immediately available funds by federal wire transfer all amounts on
deposit in the Clearing Account once every Business Day.

Upon the occurrence of an Event of Default, Beneficiary may, in addition to any and all other
rights and remedies available to Beneficiary, apply any sums then present in the Clearing Account
to the payment of the Indebtedness in such order and priority as Beneficiary shall determine.

Grantor shall indemnify, defend and hold Beneficiary harmless from and against any and all
actions, suits, claims, demands, liabilities, losses, damages, obligations and costs and expenses
(including litigation costs and reasonable attorneys fees and expenses) arising from or in any way
connected with the Clearing Account (unless arising from the gross negligence or willful misconduct
of Beneficiary) or the performance of the obligations for which the Clearing Account was
established.

52. Cash Management Account. Simultaneously herewith, Grantor and Beneficiary shall
enter into a Cash Management Agreement (“Cash Management Agreement”) with LaSalle Bank National
Association, as “Agent”. During a Cash Management Period, Grantor shall establish and maintain a
segregated Eligible Account (the “Cash Management Account”) to be held by Agent in trust and for
the benefit of Beneficiary, which Cash Management Account shall be under the sole dominion and
control of Beneficiary. The Cash Management Account shall be entitled “NNN Lenox Medical, LLC, as
Borrower and LaSalle Bank National Association, as Lender, pursuant to Deed of Trust, Security
Agreement and Fixture Filing dated as of January 2, 2007 – Cash Management Account”. All monies
now or hereafter deposited into the Cash Management Account shall be deemed additional security for
the Indebtedness. Grantor hereby grants to Beneficiary a first priority security interest in the
Cash Management Account and all deposits at any time contained therein and the proceeds thereof and
will take all actions necessary to maintain in favor of Beneficiary a perfected first priority
security interest in the Cash Management Account. In addition, Grantor hereby authorizes
Beneficiary to prepare and file UCC Financing Statements and continuations thereof. Grantor will
not in any way alter or modify the Cash Management Account and will notify Beneficiary of the
account number thereof. Grantor shall not further pledge, assign or grant any security interest in
the Cash Management Account or the monies deposited therein or permit any lien or encumbrance to
attach thereto, or any levy to be made thereon, or any UCC Financing Statements, except those
naming Beneficiary as the secured party, to be filed with respect thereto.

During a Cash Management Period, on each date that a payment is due Beneficiary under the Loan
Documents (a “Payment Date”) (or, if such Payment Date is not a Business Day, on the immediately
preceding Business Day) all funds on deposit in the Cash Management Account shall be applied by
Beneficiary as provided in the Cash Management Agreement. Beneficiary and/or any servicer shall
have the sole right to make withdrawals from the Cash Management Account and all costs and expenses
for establishing and maintaining the Cash Management Account shall be paid by Grantor.

The insufficiency of funds on deposit in the Cash Management Account shall not relieve Grantor
from the obligation to make any payments, as and when due pursuant to this Deed of Trust and the
other Loan Documents, and such obligations shall be separate and independent, and not conditioned
on any event or circumstance whatsoever.

Upon the occurrence of an Event of Default, Beneficiary may, in addition to any and all other
rights and remedies available to Beneficiary, apply any sums then present in the Cash Management
Account to the payment of the Indebtedness in such order and priority as Beneficiary shall
determine.

Grantor hereby agrees that Beneficiary may modify the Cash Management Agreement for the
purpose of establishing additional sub-accounts in connection with any payments otherwise required
under this Deed of Trust and the other Loan Documents and Beneficiary shall provide notice thereof
to Grantor.

Grantor shall indemnify, defend and hold Beneficiary harmless from and against any and all
actions, suits, claims, demands, liabilities, losses, damages, obligations and costs and expenses
(including litigation costs and reasonable attorneys fees and expenses) arising from or in any way
connected with the Cash Management Account (unless arising from the gross negligence or willful
misconduct of Beneficiary) or the performance of the obligations for which the Cash Management
Account was established.

Notwithstanding anything to the contrary contained in this Deed of Trust and the other Loan
Documents, and provided no Event of Default has occurred and is continuing, during a Cash
Management Period, Grantor’s obligations with respect to the payment of the monthly debt service
payment required under the Note and amounts due hereunder for escrows for taxes, ground rents,
insurance, Replacement Reserves, TI and Leasing Reserves, and any other payment reserves
established pursuant to this Deed of Trust or any other Loan Document shall be deemed satisfied to
the extent sufficient amounts are deposited in the Cash Management Account established pursuant to
the Cash Management Agreement to satisfy such obligations on the dates each such payment is
required, regardless of whether any of such amounts are so applied by Beneficiary.

53. Concurrent Subordinate Indebtedness. Notwithstanding anything in this Deed of
Trust or the other Loan Documents to the contrary, by its acceptance hereof Beneficiary
acknowledges and agrees that Grantor, simultaneously herewith, is borrowing an additional Three
Million Seven Hundred and Twenty Five Thousand and No/100ths Dollars ($3,725,000) from Beneficiary
(the “Concurrent Subordinate Indebtedness”). Such Concurrent Subordinate Indebtedness is evidenced
by that certain Promissory Note in such original principal amount of even date herewith, and is
secured by that certain Subordinate Deed of Trust, Security Agreement and Fixture Filing of even
date herewith encumbering the Property, that certain Pledge Agreement of even date herewith made by
NNN Lenox Medical, LLC in favor of Beneficiary, and that certain Guaranty of Payment of even date
herewith made by Guarantor in favor of Beneficiary (collectively, the “Subordinate Loan
Documents”). Neither the existence of the Concurrent Subordinate Indebtedness or the execution and
delivery by Grantor and Guarantor of the Subordinate Loan Documents shall constitute an Event of
Default hereunder, provided however, that an Event of Default under the Subordinate Loan Documents
shall constitute an Event of Default hereunder.

STATE SPECIFIC PROVISIONS

54. Future Advances. Any and all future advances (if any), with interest thereon,
shall be secured by this Deed of Trust unless the parties shall agree otherwise in writing. This
Deed of Trust secures not only existing indebtedness and advances made contemporaneously with the
execution hereof, but also future advances, whether obligatory, or optional, or both, to the same
extent as if such future advances were made contemporaneously with the execution of this Deed of
Trust, even if no advance is made at the time of the execution of this Deed of Trust and even if no
indebtedness is outstanding at the time any advance is made.

[THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK;

SIGNATURE PAGES FOLLOW]

4

IN WITNESS WHEREOF, Grantor has executed this Deed of Trust or has caused the same to
be executed by its representatives thereunto duly authorized.

	 
	 

	GRANTOR:

	 	 	 
	NNN Lenox Medical, LLC, a Delaware limited liability company

	 
	 	 
	By:

	 	NNN Lenox Medical Member, LLC, a Delaware limited

liability company, its sole member
	 
	 	 
	By:

	 	Triple Net Properties, LLC, a Virginia limited liability

company, its sole member
	 
	 	 
	
 
	 	By: /s/ Richard Hutton
	
 
	 	 
	
 
	 	Name: Richard Hutton
	
 
	 	 
	
 
	 	Its: Executive Vice President
	
 
	 	 

5

STATE OF CALIFORNIA

COUNTY OF ORANGE

Before me, a Notary Public of the state and county mentioned, personally appeared Richard
Hutton, with whom I am personally acquainted (or proved to me on the basis of satisfactory
evidence), and who, upon oath, acknowledged himself/herself to be the Executive VP of Triple Net
Properties, LLC, a Virginia limited liability company, the sole member of NNN Lenox Medical Member,
LLC, a Delaware limited liability company, the sole member of NNN Lenox Medical, LLC, a Delaware
limited liability company, the within named bargainor, and that he/she as such Executive VP,
executed the foregoing instrument for the purposes therein contained, by personally signing the
name of the Triple Net Properties, LLC, the sole member of NNN Lenox Medical Member, LLC, a
Delaware limited liability company, the sole member of NNN Lenox Medical, LLC, by himself/herself
as Executive VP.

WITNESS my hand and seal, at office in (county) Orange, California (state), this 26th
day of December, 2006.

/s/ J. Hu

Notary Public

My Commission Expires: September 30, 2009.

[AFFIX NOTARY SEAL]

6EX-10.7

GUARANTY

THIS GUARANTY (“Guaranty”) is executed as of January 2, 2007 by NNN Realty Advisors, Inc., a
Virginia corporation (singularly and collectively referred to as “Guarantor”), for the benefit of
LaSalle Bank National Association, a national banking association, its successors and assigns
(“Lender”).

A. NNN Lenox Medical, LLC, a Delaware limited liability company (“Borrower”), is indebted to
Lender with respect to a loan (the “Loan”) pursuant to that certain Promissory Note dated of even
date herewith, payable to the order of Lender in the original principal amount of $12,000,000.00
(together with all renewals, modifications, increases and extensions thereof, the “Note”), which is
secured by the liens and security interests of a Deed of Trust, Security Agreement and Fixture
Filing, of even date herewith (the “Security Instrument”), and further evidenced, secured or
governed by the other Loan Documents (as defined in the Note). Capitalized terms used in this
Guaranty and not otherwise defined shall have the meanings assigned in the Security Instrument.

B. Lender is not willing to make the Loan, or otherwise extend credit, to Borrower unless
Guarantor unconditionally guarantees payment and performance to Lender of the Guaranteed
Obligations (as herein defined).

C. Guarantor will directly benefit from Lender’s making the Loan to Borrower.

D. Subsequent to the closing of the Loan, subject to the terms of Paragraph 15 of the Security
Instrument, Borrower may transfer undivided tenant in common interests in the Property (provided,
however, there may be no more than thirty-five (35) tenants in common in the aggregate), including
Borrower, with the consent of Lender, as more specifically set forth in one or more Loan
Assumption, Ratification and Consent Agreement(s) by and between Borrower, Guarantor, the tenant(s)
in common and Lender executed concurrently herewith or subsequently hereafter.

NOW, THEREFORE, as an inducement to Lender to make the Loan to Borrower thereunder, and to
extend such additional credit as Lender may from time to time agree to extend under the Loan
Documents, and for other good and valuable consideration, the receipt and legal sufficiency of
which are hereby acknowledged, the parties do hereby agree as follows:

ARTICLE 1

NATURE AND SCOPE OF GUARANTY

1.1 Guaranty of Obligations. Guarantor hereby irrevocably and unconditionally
guarantees to Lender (and its successors and assigns), jointly and severally, the payment and
performance of the Guaranteed Obligations as and when the same shall be due and payable, whether by
lapse of time, by acceleration of maturity or otherwise. Guarantor hereby irrevocably and
unconditionally covenants and agrees that it is liable, jointly and severally, for the Guaranteed
Obligations as a primary obligor, and that each Guarantor shall fully perform, jointly and
severally, each and every term and provision hereof.

1.2 Definition of Guaranteed Obligations. As used herein, the term “Guaranteed
Obligations” shall mean the unpaid balance of the Loan (as defined in the Note) in the event of (a)
any fraud, willful misconduct or material intentional misrepresentation by Borrower or any
Guarantor in connection with the Loan, (b) Borrower’s failure to make the first scheduled monthly
payment due under the Note, (c) a breach of the terms of Paragraphs 15 or 16 of the Security
Instrument or (d) the voluntary filing by Borrower, or the filing against Borrower by any Guarantor
or any affiliate of any Guarantor, or an involuntary bankruptcy filing against Borrower in which
Borrower or Guarantor acts in collusion with the filing party with respect to the filing, of any
proceeding for relief under any federal or state bankruptcy, insolvency or receivership laws or any
assignment for the benefit of creditors made by Borrower. In addition, the Guaranteed Obligations
shall also include and Guarantor shall also be liable for, and shall indemnify, defend and hold
Lender harmless from and against, any and all loss, liability, damage, cost, expense, claim or
other obligation (including without limitation reasonable attorney’s fees and costs of defense)
incurred or suffered by Lender and arising out of or in connection with the matters listed in
subparagraphs (i) through (vi) immediately below:

(i) any waste of the Property caused by act(s) or omission(s) of Borrower, its
agents, affiliates, officers and employees; or the removal or disposal of any
portion of the Property after an Event of Default under the Loan Documents to the
extent such Property is not replaced by Borrower with like property of equivalent
value, function and design;

(ii) the misapplication, misappropriation or conversion of: (A) any rents,
security deposits, proceeds or other funds; (B) any insurance proceeds paid by
reason of any loss, damage or destruction to the Property and not used by Borrower
for restoration or repair of the Property when and as permitted by the Loan
Documents; and/or (C) any awards or amounts received in connection with the
condemnation of all or any portion of the Property and not used by Borrower for
restoration or repair of the Property when and as permitted by the Loan Documents;

(iii) Borrower’s failure to deliver any security deposits collected with
respect to the Property to Lender or any other party entitled to receive such
security deposits under the Loan Documents following an Event of Default; and any
rents (including advanced or prepaid rents), issues, profits, accounts or other
amounts generated by or related to the Property attributable to, or accruing after
an Event of Default, which amounts were collected by Borrower or any other party on
its behalf or for its benefit and not turned over to the Lender or used to pay
unaffiliated third parties for reasonable and customary operating expenses and
capital expenditures for the Property, taxes and insurance premiums with respect to
the Property or any other amounts permitted or required to be paid under the Loan
Documents with respect to the Property;

(iv) the breach of the obligations set forth in that certain Hazardous
Substances Indemnification Agreement from Borrower and Guarantor to Lender of even
date herewith, as hereinafter amended, if at all; and

(v) the filing by Borrower, its members, managers, managing members or vice
presidents of any action to partition any portion of the Property and any action to
compel any sale thereof.

1.3 Nature of Guaranty. This Guaranty is an irrevocable, absolute, continuing
guaranty of payment and performance, is joint and several and is not a guaranty of collection.
This Guaranty may not be revoked by Guarantor and shall continue to be effective with respect to
any Guaranteed Obligations arising or created after any attempted revocation by Guarantor and after
(if Guarantor is a natural person) Guarantor’s death (in which event this Guaranty shall be binding
upon Guarantor’s estate and Guarantor’s legal representatives and heirs). The fact that at any
time or from time to time the Guaranteed Obligations may be increased or reduced shall not release
or discharge the obligation of Guarantor to Lender with respect to Guaranteed Obligations. This
Guaranty may be enforced by Lender and any subsequent holder of the Note and shall not be
discharged by the assignment or negotiation of all or part of the Note.

1.4 Guaranteed Obligations Not Reduced by Offset. The Guaranteed Obligations and the
liabilities and obligations of Guarantor to Lender hereunder, shall not be reduced, discharged or
released because or by reason of any existing or future offset, claim or defense of Borrower, or
any other party, against Lender or against payment of the Guaranteed Obligations, whether such
offset, claim or defense arises in connection with the Guaranteed Obligations (or the transactions
creating the Guaranteed Obligations) or otherwise.

1.5 Payment by Guarantor. If all or any part of the Guaranteed Obligations shall not
be punctually paid when due, whether at maturity or earlier by acceleration or otherwise,
Guarantor shall, immediately upon demand by Lender, and without presentment, protest, notice of
protest, notice of non-payment, notice of intention to accelerate the maturity, notice of
acceleration of the maturity, or any other notice whatsoever, pay in lawful money of the United
States of America, the amount due on the Guaranteed Obligations to Lender at Lender’s address as
set forth herein. Such demand(s) may be made at any time coincident with or after the time for
payment of all or part of the Guaranteed Obligations, and may be made from time to time with
respect to the same or different items of Guaranteed Obligations. Such demand shall be deemed
made, given and received in accordance with the notice provisions hereof.

1.6 No Duty to Pursue Others. It shall not be necessary for Lender (and Guarantor
hereby waives any rights which Guarantor may have to require Lender), in order to enforce such
payment by Guarantor, first to (a) institute suit or exhaust its remedies against Borrower or
others liable on the Loan or the Guaranteed Obligations or any other person, (b) enforce or exhaust
any of Lender’s rights or remedies against any collateral which shall ever have been given to
secure the Loan, (c) enforce Lender’s rights or remedies available to Lender against any other
guarantors of the Guaranteed Obligations, (d) join Borrower or any others liable on the Guaranteed
Obligations in any action seeking to enforce this Guaranty, or (e) resort to any other means of
obtaining payment of the Guaranteed Obligations. Lender shall not be required to mitigate damages
or take any other action to reduce, collect or enforce the Guaranteed Obligations.

1.7 Waivers. Guarantor agrees to the provisions of the Loan Documents, and hereby
waives notice of (a) any loans or advances made by Lender to Borrower, (b) acceptance of this
Guaranty, (c) any amendment or extension of the Note or of any other Loan Documents, (d) the
execution and delivery by Borrower and Lender of any other loan or credit agreement or of
Borrower’s execution and delivery of any promissory notes or other documents arising under the Loan
Documents or in connection with the Property, (e) the occurrence of any breach by Borrower or
default, (f) Lender’s transfer or disposition of the Guaranteed Obligations, or any part thereof,
(g) sale or foreclosure (or posting or advertising for sale or foreclosure) of any collateral for
the Guaranteed Obligations to the extent permitted by law, (h) protest, proof of non-payment or
default by Borrower, or (i) any other action at any time taken or omitted by Lender, and,
generally, all demands and notices of every kind in connection with this Guaranty, the Loan
Documents, any documents or agreements evidencing, securing or relating to any of the Guaranteed
Obligations and the obligations hereby guaranteed.

1.8 Payment of Expenses. In the event that Guarantor should breach or fail to timely
perform any provisions of this Guaranty, Guarantor shall, immediately upon demand by Lender, pay
Lender all costs and expenses (including court costs and reasonable attorneys’ fees) incurred by
Lender in the enforcement hereof or the preservation of Lender’s rights hereunder. The covenant
contained in this paragraph shall survive the payment and performance of the Guaranteed
Obligations.

1.9 Effect of Bankruptcy. In the event that, pursuant to any insolvency, bankruptcy,
reorganization, receivership or other debtor relief law, or any judgment, order or decision
thereunder, Lender must rescind or restore any payment, or any part thereof, received by Lender in
satisfaction of the Guaranteed Obligations, as set forth herein, any prior release or discharge
from the terms of this Guaranty given to Guarantor by Lender shall be without effect, and this
Guaranty shall remain in full force and effect. It is the intention of Borrower and Guarantor that
Guarantor’s obligations hereunder shall not be discharged except by Guarantor’s performance of such
obligations and then only to the extent of such performance.

1.10 Deferment of Rights of Subrogation, Reimbursement and Contribution.

(a) Notwithstanding any payment or payments made by any Guarantor hereunder, no
Guarantor will assert or exercise any right of Lender or of such Guarantor against Borrower
to recover the amount of any payment made by such Guarantor to Lender by way of subrogation,
reimbursement, contribution, indemnity, or otherwise arising by contract or operation of
law, and such Guarantor shall not have any right of recourse to or any claim against assets
or property of Borrower, whether or not the obligations of Borrower have been satisfied, all
of such rights being herein expressly waived by such Guarantor. Each Guarantor agrees not
to seek contribution or indemnity or other recourse from any other guarantor so long as the
Loan is outstanding. If any amount shall nevertheless be paid to a Guarantor by Borrower or
another Guarantor prior to payment in full of the Obligations (hereinafter defined), such
amount shall be held in trust for the benefit of Lender and shall forthwith be paid to
Lender to be credited and applied to the Obligations, whether matured or unmatured. The
provisions of this paragraph shall survive the termination of this Guaranty, and any
satisfaction and discharge of Borrower by virtue of any payment, court order or any
applicable law.

(b) Notwithstanding the provisions of Subparagraph 1.10(a), each Guarantor shall have
and be entitled to (i) all rights of subrogation otherwise provided by applicable law in
respect of any payment it may make or be obligated to make under this Guaranty and (ii) all
claims it would have against Borrower in the absence of Subparagraph 1.10(a) and to assert
and enforce same, in each case on and after, but at no time prior to, the date (the
“Subrogation Trigger Date”) which is ninety-one (91) days after the date on which all sums
owed to Lender under the Loan Documents (the “Obligations”) have been paid in full, if and
only if (x) no Event of Default of the type described in Paragraph 20(f) of the Security
Instrument with respect to any other Guarantor has existed at any time on and after the date
of this Guaranty to and including the Subrogation Trigger Date and (y) the existence of each
Guarantor’s rights under this Subparagraph 1.10(b) would not make such Guarantor a creditor
(as defined in the Code, as such term is hereinafter defined) of Borrower or any other
Guarantor in any insolvency, bankruptcy, reorganization or similar proceeding commenced on
or prior to the Subrogation Trigger Date.

1.11 Bankruptcy Code Waiver. It is the intention of the parties that Guarantor shall
not be deemed to be a “creditor” or “creditors” (as defined in Section 101 of the Bankruptcy Code)
of Borrower, or any such guarantor, by reason of the existence of this Guaranty, in the event that
Borrower or any such guarantor, becomes a debtor in any proceeding under the Bankruptcy Code, and
in connection herewith, Guarantor hereby waives any such right as a “creditor” under the Bankruptcy
Code. This waiver is given to induce Lender to make the Loan evidenced by the Note to Borrower.
After the Loan is paid in full and there shall be no obligations or liabilities under this Guaranty
outstanding, this waiver shall be deemed to be terminated.

1.12 “Borrower.” The term “Borrower” as used herein shall include any new or
successor corporation, association, partnership (general or limited), joint venture, trust or other
individual or organization formed as a result of any merger, reorganization, sale, transfer,
devise, gift or bequest of Borrower or any interest in Borrower.

ARTICLE 2

EVENTS AND CIRCUMSTANCES NOT REDUCING

OR DISCHARGING GUARANTOR’S OBLIGATIONS

Guarantor hereby consents and agrees to each of the following, and agrees that Guarantor’s
obligations under this Guaranty shall not be released, diminished, impaired, reduced or adversely
affected by any of the following, and waives any common law, equitable, statutory or other rights
(including without limitation rights to notice) which Guarantor might otherwise have as a result of
or in connection with any of the following:

2.1 Modifications. Any renewal, extension, increase, modification, alteration or
rearrangement of all or any part of the Guaranteed Obligations, Note, Loan Documents, or other
document, instrument, contract or understanding between Borrower and Lender, or any other parties,
pertaining to the Guaranteed Obligations or any failure of Lender to notify Guarantor of any such
action.

2.2 Adjustment. Any adjustment, indulgence, forbearance or compromise that might be
granted or given by Lender to Borrower or any Guarantor.

2.3 Condition of Borrower or Guarantor. The insolvency, bankruptcy, arrangement,
adjustment, composition, liquidation, disability, dissolution or lack of power of Borrower,
Guarantor or any other party at any time liable for the payment of all or part of the Guaranteed
Obligations; or any dissolution of Borrower or Guarantor, or any sale, lease or transfer of any or
all of the assets of Borrower or Guarantor, or any changes in the shareholders, partners or members
of Borrower or Guarantor; or any reorganization of Borrower or Guarantor.

2.4 Invalidity of Guaranteed Obligations. The invalidity, illegality or
unenforceability of all or any part of the Guaranteed Obligations, or any document or agreement
executed in connection with the Guaranteed Obligations, for any reason whatsoever, including
without limitation the fact that (a) the Guaranteed Obligations, or any part thereof, exceeds the
amount permitted by law, (b) the act of creating the Guaranteed Obligations or any part thereof is
ultra vires, (c) the officers or representatives executing the Note or the other
Loan Documents or otherwise creating the Guaranteed Obligations acted in excess of their authority,
(d) the Guaranteed Obligations violate applicable usury laws, (e) Borrower has valid defenses,
claims or offsets (whether at law, in equity or by agreement) which render the Guaranteed
Obligations wholly or partially uncollectible from Borrower, (f) the creation, performance or
repayment of the Guaranteed Obligations (or the execution, delivery and performance of any document
or instrument representing part of the Guaranteed Obligations or executed in connection with the
Guaranteed Obligations, or given to secure the repayment of the Guaranteed Obligations) is illegal,
uncollectible or unenforceable, or (g) the Note or any of the other Loan Documents have been forged
or otherwise are irregular or not genuine or authentic, it being agreed that Guarantor shall remain
liable hereon regardless of whether Borrower or any other person be found not liable on the
Guaranteed Obligations or any part thereof for any reason.

2.5 Release of Obligors. Any full or partial release of the liability of Borrower on
the Guaranteed Obligations, or any part thereof, or of any co-guarantors, or any other person or
entity now or hereafter liable, whether directly or indirectly, jointly, severally, or jointly and
severally, to pay, perform, guarantee or assure the payment of the Guaranteed Obligations, or any
part thereof, it being recognized, acknowledged and agreed by Guarantor that Guarantor may be
required to pay the Guaranteed Obligations in full without assistance or support of any other
party, and Guarantor has not been induced to enter into this Guaranty on the basis of a
contemplation, belief, understanding or agreement that other parties will be liable to pay or
perform the Guaranteed Obligations, or that Lender will look to other parties to pay or perform the
Guaranteed Obligations.

2.6 Other Collateral. The taking or accepting of any other security, collateral or
guaranty, or other assurance of payment, for all or any part of the Guaranteed Obligations.

2.7 Release of Collateral. Any release, surrender, exchange, subordination,
deterioration, waste, loss or impairment (including without limitation negligent, willful,
unreasonable or unjustifiable impairment) of any collateral, property or security, at any time
existing in connection with, or assuring or securing payment of, all or any part of the Guaranteed
Obligations.

2.8 Care and Diligence. The failure of Lender or any other party to exercise
diligence or reasonable care in the preservation, protection, enforcement, sale or other handling
or treatment of all or any part of such collateral, property or security, including but not limited
to any neglect, delay, omission, failure or refusal of Lender (a) to take or prosecute any action
for the collection of any of the Guaranteed Obligations, or (b) to foreclose, or initiate any
action to foreclose, or, once commenced, prosecute to completion any action to foreclose upon any
security therefor, or (c) to take or prosecute any action in connection with any instrument or
agreement evidencing or securing all or any part of the Guaranteed Obligations.

2.9 Unenforceability. The fact that any collateral, security, security interest or
lien contemplated or intended to be given, created or granted as security for the repayment of the
Guaranteed Obligations, or any part thereof, shall not be properly perfected or created, or shall
prove to be unenforceable or subordinate to any other security interest or lien, it being
recognized and agreed by Guarantor that Guarantor is not entering into this Guaranty in reliance
on, or in contemplation of the benefits of, the validity, enforceability, collectibility or value
of any of the collateral for the Guaranteed Obligations.

2.10 Offset. Any existing or future right of offset, claim or defense of Borrower
against Lender, or any other party, or against payment of the Guaranteed Obligations, whether such
right of offset, claim or defense arises in connection with the Guaranteed Obligations (or the
transactions creating the Guaranteed Obligations) or otherwise.

2.11 Merger. The reorganization, merger or consolidation of Borrower into or with any
other corporation or entity.

2.12 Preference. Any payment by Borrower to Lender is held to constitute a preference
under bankruptcy laws, or for any reason Lender is required to refund such payment or pay such
amount to Borrower or someone else.

2.13 Other Actions Taken or Omitted. Any other action taken or omitted to be taken
with respect to the Loan Documents, the Guaranteed Obligations, or the security and collateral
therefor, whether or not such action or omission prejudices Guarantor or increases the likelihood
that Guarantor will be required to pay the Guaranteed Obligations pursuant to the terms hereof, it
is the unambiguous and unequivocal intention of Guarantor that Guarantor shall be obligated to pay
the Guaranteed Obligations when due, notwithstanding any occurrence, circumstance, event, action,
or omission whatsoever, whether or not contemplated, and whether or not otherwise or particularly
described herein, which obligation shall be deemed satisfied only upon the full and final payment
and satisfaction of the Guaranteed Obligations.

ARTICLE 3

REPRESENTATIONS AND WARRANTIES

To induce Lender to enter into the Loan Documents and extend credit to Borrower, Guarantor
represents and warrants to Lender as follows:

3.1 Benefit. Guarantor has received, or will receive, direct or indirect benefit from
the making of this Guaranty with respect to the Guaranteed Obligations.

3.2 Familiarity and Reliance. Guarantor is familiar with, and has independently
reviewed books and records regarding, the financial condition of Borrower and is familiar with the
value of any and all collateral intended to be created as security for the payment of the Note or
Guaranteed Obligations; however, Guarantor is not relying on such financial condition or the
collateral as an inducement to enter into this Guaranty.

3.3 No Representation by Lender. Neither Lender nor any other party has made any
representation, warranty or statement to Guarantor in order to induce Guarantor to execute this
Guaranty.

3.4 Guarantor’s Financial Condition. As of the date hereof, and after giving effect
to this Guaranty and the contingent obligation evidenced hereby, Guarantor is, and will be,
solvent, and has and will have assets which, fairly valued, exceed its obligations, liabilities
(including contingent liabilities) and debts, and has and will have property and assets sufficient
to satisfy and repay its obligations and liabilities. There have been no (a) assignment made for
the benefit of Guarantor’s creditors, (b) appointment of a receiver for Guarantor or for
Guarantor’s properties, or (c) bankruptcy, reorganization, or liquidation proceeding instituted by
or against Guarantor.

3.5 Legality. The execution, delivery and performance by Guarantor of this Guaranty
and the consummation of the transactions contemplated hereunder do not, and will not, contravene
or conflict with any law, statute or regulation whatsoever to which Guarantor is subject or
constitute a default (or an event which with notice or lapse of time or both would constitute a
default) under, or result in the breach of, any indenture, mortgage, deed of trust, charge, lien,
or any contract, agreement or other instrument to which Guarantor is a party or which may be
applicable to Guarantor. This Guaranty is a legal and binding obligation of Guarantor and is
enforceable in accordance with its terms, except as limited by bankruptcy, insolvency or other laws
of general application relating to the enforcement of creditors’ rights.

3.6 Survival. All representations and warranties made by Guarantor herein shall
survive the execution hereof.

3.7 Review of Documents. Guarantor has had the opportunity to examine the Note and
all of the Loan Documents.

3.8 Litigation. Except as otherwise disclosed to Lender, there are no proceedings
pending or, so far as Guarantor knows, threatened before any court, governmental or administrative
agency which, if decided adversely to Guarantor, would materially adversely affect the financial
condition of Guarantor or the authority of Guarantor to enter into, or the validity or
enforceability of this Guaranty. In addition, except as otherwise disclosed to Lender, (a) there
are no outstanding judgment(s) against or relating to Guarantor, (b) Guarantor has not (i) had any
property foreclosed upon, (ii) given a deed in lieu of foreclosure, or (iii) been involved in any
criminal proceedings where Guarantor was the defendant and (c) Guarantor has not defaulted on any
loan or other indebtedness.

3.9 Tax Returns. Guarantor has filed all required federal, state and local tax
returns and has paid all taxes as shown on such returns as they have become due. No claims have
been assessed and are unpaid with respect to such taxes.

3.10 OFAC. Guarantor is not and will not become a person (individually, a “Prohibited
Person” and collectively “Prohibited Persons”) listed on the Specially Designated Nationals and
Blocked Persons List maintained by the Office of Foreign Asset Control, U.S. Department of the
Treasury (the “OFAC List”) or otherwise subject to any other prohibitions or restriction imposed by
laws, rules, regulations or executive orders, including Executive Order No. 13224, administered by
OFAC (collectively the “OFAC Rules”). Guarantor represents and covenants that it also (a) is not
and will not become owned or controlled by a Prohibited Person, (b) is not acting and will not act
for or on behalf of a Prohibited Person, (c) is not otherwise associated with and will not become
associated with a Prohibited Person, (d) is not providing and will not provide any material,
financial or technological support for or financial or other service to or in support of acts of
terrorism or a Prohibited Person. Guarantor shall immediately notify Lender if Guarantor or any
member, partner or beneficial owner of Guarantor becomes a Prohibited Person or (i) is indicted on
or (ii) arraigned and held over on charges involving money laundering or predicate crimes to money
laundering. Guarantor will not enter into any transaction or undertake any activities related to
the Loan in violation of the federal Bank Secrecy Act, as amended (“BSA”), 31 U.S.C. §5311, et seq.
or any federal or state laws, rules, regulations or executive orders, including, but not limited
to, 18 U.S.C. §§1956, 1957 and 1960, prohibiting money laundering and terrorist financing
(collectively “Anti-Money Laundering Laws”). Guarantor shall (A) not use or permit the use of any
proceeds of the Loan in any way that will violate either the OFAC Rules or Anti-Money Laundering
Laws, (B) comply and cause all of its subsidiaries to comply with applicable OFAC Rules and
Anti-Money Laundering Laws, (C) provide information as Lender may require from time to time to
permit Lender to satisfy its obligations under the OFAC Rules and/or the Anti-Money Laundering Laws
and (D) not engage in or conspire to engage in any transaction that evades or avoids, or has the
purpose of evading or avoiding, or attempts to violate, any of the foregoing. Guarantor shall
immediately notify Lender upon learning (but in no event later than ten (10) days after obtaining
such knowledge) that any Tenant becomes a Prohibited Person or (1) is convicted of, (2) pleads nolo
contendere to, (3) is indicted on, or (4) is arraigned and held over on charges involving money
laundering or predicate crimes to money laundering.

3.11 Net Worth Maintenance Requirements. Guarantor hereby represents that it has a
net worth of at least $10,000,000.00 as of the date hereof. Guarantor covenants and agrees that
until such time as the Note is paid in full and all obligations of Borrower and Guarantor under the
Loan Documents are satisfied (a) that Guarantor’s net worth shall not fall below $10,000,000.00 for
any sixty (60) consecutive day period, and (b) at no time Guarantor’s net worth fall below
$5,000,000.00. A breach of this provision or any of the other terms and conditions set forth in
this Guaranty shall be an “Event of Default” under the Loan Documents

3.12 Foreign Status. Guarantor is not or will not be, held, directly or
indirectly, to be a “foreign corporation,” “foreign partnership,” “foreign trust,” “foreign
estate,” “foreign person,” “affiliate” of a “foreign person” or a “United States intermediary” of a
“foreign person” within the meaning of IRC Sections 897 and 1445, the Foreign Investments in Real
Property Tax Act of 1980, the International Investment and Trade in Services Survey Act, the
Agricultural Foreign Investment Disclosure Act of 1978, the regulations promulgated pursuant to
such acts or any amendments to such acts.

ARTICLE 4

SUBORDINATION OF CERTAIN INDEBTEDNESS

4.1 Subordination of All Guarantor Claims. As used herein, the term “Guarantor
Claims” shall mean all debts and liabilities of Borrower to Guarantor, whether such debts and
liabilities now exist or are hereafter incurred or arise, or whether the obligations of Borrower
thereon be direct, contingent, primary, secondary, several, joint and several, or otherwise, and
irrespective of whether such debts or liabilities be evidenced by note, contract, open account, or
otherwise, and irrespective of the person or persons in whose favor such debts or liabilities may,
at their inception, have been, or may hereafter be created, or the manner in which they have been
or may hereafter be acquired by Guarantor. The Guarantor Claims shall include without limitation
all rights and claims of Guarantor against Borrower (arising as a result of subrogation or
otherwise) as a result of Guarantor’s payment of all or a portion of the Guaranteed Obligations to
the extent the provisions of Paragraph 1.4 hereof are unenforceable. Upon the occurrence of an
Event of Default or the occurrence of an event which would, with the giving of notice or the
passage of time, or both, constitute an Event of Default, Guarantor shall not receive or collect,
directly or indirectly, from Borrower or any other party any amount upon the Guarantor Claims.

4.2 Claims in Bankruptcy. In the event of receivership, bankruptcy, reorganization,
arrangement, debtor’s relief, or other insolvency proceedings involving Guarantor as debtor,
Lender shall have the right to prove its claim in any such proceeding so as to establish its rights
hereunder and receive directly from the receiver, trustee or other court custodian dividends and
payments which would otherwise be payable upon Guarantor Claims. Guarantor hereby assigns such
dividends and payments to Lender. Should Lender receive, for application upon the Guaranteed
Obligations, any such dividend or payment which is otherwise payable to Guarantor, and which, as
between Borrower and Guarantor, shall constitute a credit upon the Guarantor Claims, then upon
payment to Lender in full of the Guaranteed Obligations, Guarantor shall become subrogated to the
rights of Lender to the extent that such payments to Lender on the Guarantor Claims have
contributed toward the liquidation of the Guaranteed Obligations, and such subrogation shall be
with respect to that proportion of the Guaranteed Obligations which would have been unpaid if
Lender had not received dividends or payments upon the Guarantor Claims.

4.3 Payments Held in Trust. In the event that, notwithstanding anything to the
contrary in this Guaranty, Guarantor should receive any funds, payment, claim or distribution which
is prohibited by this Guaranty, Guarantor agrees to hold in trust for Lender an amount equal to the
amount of all funds, payments, claims or distributions so received, and agrees that it shall have
absolutely no dominion over the amount of such funds, payments, claims or distributions so received
except to pay them promptly to Lender, and Guarantor covenants promptly to pay the same to Lender.

4.4 Liens Subordinate. Guarantor agrees that any liens, security interests, judgment
liens, charges or other encumbrances upon Borrower’s assets securing payment of the Guarantor
Claims shall be and remain inferior and subordinate to any liens, security interests, judgment
liens, charges or other encumbrances upon Borrower’s assets securing payment of the Guaranteed
Obligations, regardless of whether such encumbrances in favor of Guarantor or Lender presently
exist or are hereafter created or attach. Without the prior written consent of Lender, Guarantor
shall not (a) exercise or enforce any creditor’s right it may have against Borrower, or (b)
foreclose, repossess, sequester or otherwise take steps or institute any action or proceedings
(judicial or otherwise, including without limitation the commencement of, or joinder in, any
liquidation, bankruptcy, rearrangement, debtor’s relief or insolvency proceeding) to enforce any
liens, mortgages, deeds of trust, security interest, collateral rights, judgments or other
encumbrances on assets of Borrower held by Guarantor.

ARTICLE 5

MISCELLANEOUS

5.1 Waiver. No failure to exercise, and no delay in exercising, on the part of
Lender, any right hereunder shall operate as a waiver thereof, nor shall any single or partial
exercise thereof preclude any other or further exercise thereof or the exercise of any other right.
The rights of Lender hereunder shall be in addition to all other rights provided by law. No
modification or waiver of any provision of this Guaranty, nor consent to departure therefrom, shall
be effective unless in writing and no such consent or waiver shall extend beyond the particular
case and purpose involved. No notice or demand given in any case shall constitute a waiver of the
right to take other action in the same, similar or other instances without such notice or demand.

5.2 Notices. Any notice, demand, statement, request or consent made hereunder shall
be in writing and shall be deemed to be received by the addressee on the first business day after
such notice is tendered to a nationally recognized overnight delivery service or on the third day
following the day such notice is deposited with the United States Postal Service first class
certified mail, return receipt requested, in either instance, addressed to the address, as set
forth below, of the party to whom such notice is to be given, or to such other address as either
party shall in like manner designate in writing. The addresses of the parties hereto are as
follows:

Guarantor:

NNN Realty Advisors, Inc.

1551 N. Tustin Avenue, Suite 300

Santa Ana, California 92705

Attn: Anthony W. Thompson/Theresa A. Hutton

Lender:

LaSalle Bank National Association

135 S. LaSalle Street

Suite 3410

Chicago, Illinois 60603

Attn: Real Estate Capital Markets

Re: Lenox Office Park

5.3 Governing Law; Jurisdiction. THIS GUARANTY SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF ILLINOIS, WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES,
AND THE APPLICABLE LAWS OF THE UNITED STATES OF AMERICA. GUARANTOR HEREBY IRREVOCABLY SUBMITS TO
THE JURISDICTION OF ANY COURT OF COMPETENT JURISDICTION LOCATED IN THE CITY OF CHICAGO AND STATE OF
ILLINOIS IN CONNECTION WITH ANY PROCEEDING ARISING OUT OF OR RELATING TO THIS GUARANTY.

5.4 Invalid Provisions. If any provision of this Guaranty is held to be illegal,
invalid, or unenforceable under present or future laws effective during the term of this Guaranty,
such provision shall be fully severable and this Guaranty shall be construed and enforced as if
such illegal, invalid or unenforceable provision had never comprised a part of this Guaranty, and
the remaining provisions of this Guaranty shall remain in full force and effect and shall not be
affected by the illegal, invalid or unenforceable provision or by its severance from this Guaranty,
unless such continued effectiveness of this Guaranty, as modified, would be contrary to the basic
understandings and intentions of the parties as expressed herein.

5.5 Amendments. This Guaranty may be amended only by an instrument in writing
executed by the party or an authorized representative of the party against whom such amendment is
sought to be enforced.

5.6 Parties Bound; Assignment. This Guaranty shall be binding upon and inure to the
benefit of the parties hereto and their respective successors, assigns, legal representatives,
heirs, executors, and administrators; provided, however, that Guarantor may not, without the prior
written consent of Lender, assign any of its rights, powers, duties or obligations hereunder.

5.7 Headings. The article, paragraph and subparagraph headings are for convenience of
reference only and shall in no way affect the interpretation of this Guaranty.

5.8 Recitals. The recital and introductory paragraphs hereof are a part hereof, form
a basis for this Guaranty and shall be considered prima facie evidence of the facts
and documents referred to therein.

5.9 Counterparts. To facilitate execution, this Guaranty may be executed in as many
counterparts as may be convenient or required. It shall not be necessary that the signature or
acknowledgment of, or on behalf of, each party, or that the signature of all persons required to
bind any party, or the acknowledgment of such party, appear on each counterpart. All counterparts
shall collectively constitute a single instrument. It shall not be necessary in making proof of
this Guaranty to produce or account for more than a single counterpart containing the respective
signatures of, or on behalf of, and the respective acknowledgments of, each of the parties hereto.
Any signature or acknowledgment page to any counterpart may be detached from such counterpart
without impairing the legal effect of the signatures or acknowledgments thereon and thereafter
attached to another counterpart identical thereto except having attached to it additional signature
or acknowledgment pages.

5.10 Financial Statements: Guarantor shall furnish or cause to be furnished to Lender
the following:

(a) within sixty (60) days after the close of each fiscal year of Guarantor, a balance
sheet of Guarantor dated as of the close of such fiscal year;

(b) within ten (10) days after its delivery to the Internal Revenue Service, copies of
any and all tax returns, requests for extension and other similar items; and

(c) from time to time, such additional financial statements and financial information
as Lender shall reasonably require.

All balance sheets shall include, among other things, disclosure of all contingent liabilities and
changes in financial condition, together with such supporting schedules and documentation as
Lender shall require. All balance sheets shall be certified by Guarantor. If audited financial
statements are required by Lender, Guarantor shall provide such audited financial statements to
Lender within the earlier to occur (i) 120 days after the end of Guarantor’s fiscal year or (ii) 20
days after Guarantor delivers its tax returns to the Internal Revenue Service.

5.11 Rights and Remedies. If Guarantor becomes liable for any indebtedness owing by
Borrower to Lender, by endorsement or otherwise, other than under this Guaranty, such liability
shall not be in any manner impaired or affected hereby and the rights of Lender hereunder shall be
cumulative of any and all other rights that Lender may ever have against Guarantor. The exercise
by Lender of any right or remedy hereunder or under any other instrument, or at law or in equity,
shall not preclude the concurrent or subsequent exercise of any other right or remedy.

5.12 Entirety. THIS GUARANTY EMBODIES THE FINAL, ENTIRE AGREEMENT OF GUARANTOR AND
LENDER WITH RESPECT TO GUARANTOR’S GUARANTY OF THE GUARANTEED OBLIGATIONS AND SUPERSEDES ANY AND
ALL PRIOR COMMITMENTS, AGREEMENTS, REPRESENTATIONS, AND UNDERSTANDINGS, WHETHER WRITTEN OR ORAL,
RELATING TO THE SUBJECT MATTER HEREOF. THIS GUARANTY IS INTENDED BY GUARANTOR AND LENDER AS A
FINAL AND COMPLETE EXPRESSION OF THE TERMS OF THIS GUARANTY, AND NO COURSE OF DEALING BETWEEN
GUARANTOR AND LENDER, NO COURSE OF PERFORMANCE, NO TRADE PRACTICES, AND NO EVIDENCE OF PRIOR,
CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OR DISCUSSIONS OR OTHER EXTRINSIC EVIDENCE OF ANY
NATURE SHALL BE USED TO CONTRADICT, VARY, SUPPLEMENT OR MODIFY ANY TERM OF THIS GUARANTY AGREEMENT.
THERE ARE NO ORAL AGREEMENTS BETWEEN GUARANTOR AND LENDER.

5.13 Waiver of Right to Trial by Jury. GUARANTOR HEREBY WAIVES ITS RIGHT TO A TRIAL
BY JURY OF ANY ISSUE TRIABLE OF RIGHT BY JURY, AND WAIVES ANY RIGHT TO TRIAL BY JURY FULLY TO THE
EXTENT THAT ANY SUCH RIGHT SHALL NOW OR HEREAFTER EXIST WITH REGARD TO THIS GUARANTY, THE SECURITY
INSTRUMENT, OR THE OTHER LOAN DOCUMENTS, OR ANY CLAIM, COUNTERCLAIM OR OTHER ACTION ARISING IN
CONNECTION THEREWITH. THIS WAIVER OF RIGHT TO TRIAL BY JURY IS GIVEN KNOWINGLY, INTENTIONALLY AND
VOLUNTARILY BY GUARANTOR, AND IS INTENDED TO ENCOMPASS INDIVIDUALLY EACH INSTANCE AND EACH ISSUE
AS TO WHICH THE RIGHT TO A TRIAL BY JURY WOULD OTHERWISE ACCRUE. LENDER IS HEREBY AUTHORIZED TO
FILE A COPY OF THIS PARAGRAPH IN ANY PROCEEDING AS CONCLUSIVE EVIDENCE OF THIS WAIVER BY
GUARANTOR. GUARANTOR ACKNOWLEDGES THAT NEITHER LENDER NOR ANY PERSON ACTING ON BEHALF OF LENDER
HAS MADE ANY REPRESENTATIONS OF FACT TO INDUCE THIS WAIVER OF TRIAL BY JURY OR HAS TAKEN ANY ACTION
WHICH IN ANY WAY MODIFIES OR NULLIFIES ITS EFFECT. GUARANTOR ACKNOWLEDGES THAT THIS WAIVER IS A
MATERIAL INDUCEMENT TO ENTER INTO THE LOAN, THAT LENDER HAS RELIED ON THIS WAIVER IN ENTERING INTO
THE LOAN DOCUMENTS AND THAT LENDER WILL CONTINUE TO RELY ON THIS WAIVER IN ITS FUTURE DEALINGS.
GUARANTOR FURTHER ACKNOWLEDGES THAT IT HAS BEEN REPRESENTED (OR HAS HAD THE OPPORTUNITY TO BE
REPRESENTED) IN THE SIGNING OF THIS GUARANTY AND ANY OTHER LOAN DOCUMENTS THAT GUARANTOR HAS
ENTERED INTO AND IN THE MAKING OF THIS WAIVER BY INDEPENDENT LEGAL COUNSEL, SELECTED OF ITS OWN
FREE WILL, AND THAT IT HAS HAD THE OPPORTUNITY TO DISCUSS THIS WAIVER WITH COUNSEL.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK –

SIGNATURE PAGE FOLLOWS]

1

EXECUTED as of the day and year first above written.

GUARANTOR:

NNN Realty Advisors, Inc., a Virginia
corporation

	 	 	 
	By:

	 	/s/ Andrea R. Biller
	
 
	 	 
	Name:

	 	Andrea R. Biller
	
 
	 	 
	Its:

	 	EVP
	
 
	 	 
	 
	 	 

2

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