Document:

Exhibit 10.35

 

AMENDMENT NO. 3 TO OFFICE LEASE

 

This AMENDMENT NO. 3 TO OFFICE LEASE (this
“Amendment”) is dated October 25, 2001, for reference purposes only, by and
between MARRIOTT PLAZA ASSOCIATES L.P.,
a California limited partnership (“Landlord”), and COMMERCE ONE, INC., a Delaware corporation
(successor-in-interest to Commercebid.com) (“Tenant”).

 

RECITALS

 

A.            Landlord
and Commercebid.com entered into that certain Office Lease dated August 30,
1999 (the “Lease”) for premises consisting of approximately 10,029 rentable
square feet with a street address of 2901 Tasman Drive, Suite 211, Santa Clara,
California, and more particularly described in the Lease;

 

B.            On
November 12, 1999, Tenant succeeded to the interest of Commercebid.com as
tenant under the Lease.

 

C.            Landlord
and Tenant entered into that certain Amendment No. 1 To Office Lease dated
October 20, 2000 whereby Landlord agreed to (i) lease to Tenant certain
additional suites in the Building and (ii) to grant to Tenant options to lease
certain additional suites in the Building (“First Amendment”).

 

D.            At
Tenant’s request, Landlord agreed to lease to Tenant one additional suite in
the Building known as Suite 112 pursuant to that certain Amendment No. 2 To
Office Lease dated December 7, 2000 (“Second Amendment”).

 

E.             Pursuant
to the First Amendment Landlord was granted the right to require Tenant to
lease Suite 220 (referred to as the “Must Take Space” in the First Amendment)
and Landlord has elected to require Tenant to lease Suite 220 from Landlord.

 

F.             Pursuant
to the First Amendment, the parties are required to enter into this Lease
Amendment to reflect the leasing of Suite 220 from Landlord to Tenant.  Capitalized terms used in this Amendment and
not otherwise defined shall have the meanings assigned to them in the Lease.

 

NOW THEREFORE, for
good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Landlord and Tenant hereby agree as follows:

 

1.             Leasing
Of Must Take Space Suite 220.  On September 21, 2001 Landlord notified
Tenant that Tenant must lease Suite 220 in accordance with Section 10 of the
First Amendment.  The delivery date of
Suite 220 shall be deemed to be November 6, 2001 and the rent commencement date
for Suite 220 shall be December 29, 2001. 
On November 6, 2001, Suite 220 shall be deemed part of the Premises for
all purposes under the Lease.  It is
acknowledged that the current tenant of Suite 220, Menlo Equities, shall remain
in possession on November 6, 2001 as a subtenant of Tenant and that such shall
not impact the delivery date of Suite 220 to Tenant.

 

1

 

2.             Tenant’s
Percentage Share/Base Year.  Pursuant to Section 9 (j) of the Lease Agreement, Tenant’s
Percentage Share shall be 41.6% from and after November 6, 2001 (subject to
further adjustments based upon changes to the Premises).  The Base Year for Suite 220 shall be
calendar year 2001 pursuant to Section 3 of the First Amendment.

 

3.             Base
Rent.  Base
Rent for Suite 220 shall initially be $13,912.50 per month.  Such rent is subject to increases as set
forth in the Lease Agreement, as amended, as set forth in Section 5 below.

 

4.             Prepaid
Rent.  Tenant
has paid to Landlord the Base Rent for the period of December 29, 2001 through
January 28, 2002 ($13,912.50).  On
January 1, 2002, Tenant shall pay to Landlord the prorated Base Rent for Suite
220 for the period of January 29, 2002 through January 31, 2002 ($1,346.37) and
thereafter Base Rent for Suite 220 shall be due on the 1st day of
each month for that complete calendar month.

 

5.             Base
Rent Increases. 
Pursuant to Section 12 of the First Amendment, Base Rent for Suite 220
shall increase 4% on March 1, 2002 and on each succeeding March 1st thereafter
through expiration of the initial term of the Lease Agreement.

 

6.             Expiration
Date/Option to Extend.  Pursuant to Section 4 of the First Amendment, the expiration date
of the Lease Agreement, as amended, is February 28, 2001.  The option to extend lease term pursuant to
Section 13 of the First Amendment applies to Suite 220 as Suite 220 is now part
of the Leased Premises.

 

7.             Ratification.  The Lease as amended by the First Amendment
and Second Amendment, and as amended by this Amendment, is hereby ratified by
Landlord and Tenant and Landlord and Tenant hereby agree that the Lease, as so
amended, shall continue in full force and effect.

 

8.     Miscellaneous.

 

8.1          Voluntary
Agreement.  The
parties have read this Amendment and on the advice of counsel they have freely
and voluntarily entered into this Amendment.

 

8.2          Attorneys’
Fees.  If
either party commences an action against the other party arising out of or in
connection with this Amendment, the prevailing party shall be entitled to
recover from the losing party reasonable attorneys’ fees and costs of suit.

 

8.3          Successors.  This Amendment shall be binding on and inure
to the benefit of the parties and their successors.

 

8.4          Counterparts.  This Amendment may be signed in two (2) or
more counterparts.  When at least one
such counterpart has been signed by each party, this Amendment shall be deemed
to have been fully executed, each counterpart shall be deemed to be an
original, and all counterparts shall be deemed to be one and the same
agreement.

 

2

 

IN WITNESS WHEREOF, Landlord
and Tenant have executed this Amendment as of the date first written above.

 

	
   

  	
  LANDLORD:

  	 

	
   

  	
   

  	 

	
   

  	
  MARRIOTT PLAZA ASSOCIATES L.P.,

  	 

	
   

  	
  a California
  limited partnership

  	 

	
   

  	
   

  	 

	
   

  	
  By:

  	
  Menlo
  Equities Associates IV LLC,

  	 

	
   

  	
   

  	
  a California
  limited liability company

  	 

	
   

  	
   

  	
  Its General
  Partner

  	 

	
   

  	
   

  	 

	
   

  	
   

  	
  By:

  	
  Menlo
  Equities LLC,

  
	
   

  	
   

  	
   

  	
  a California
  limited liability company

  	 

	
   

  	
   

  	
   

  	
  Its Manager

  	 

	
   

  	
   

  	 

	
   

  	
   

  	
  By:

  	
  Diamant
  Investments LLC,

  	 

	
   

  	
   

  	
   

  	
  a Delaware
  limited liability company

  	 

	
   

  	
   

  	
   

  	
  Its Member

  	 

	
   

  	
   

  	 

	
   

  	
   

  	
  By:

  	
  /s/ Richard
  J. Holmstrom

  	 

	
   

  	
   

  	
   

  	
  Richard J.
  Holmstrom, Manager

  	 

	
   

  	
   

  	 

	
   

  	
   

  	 

	
   

  	
  TENANT:

  	 

	
   

  	
   

  	 

	
   

  	
  COMMERCE ONE, INC.,

  	 

	
   

  	
  a Delaware
  corporation

  	 

	
   

  	
   

  	 

	
   

  	
   

  	 

	
   

  	
  By:

  	
   

  	
  /s/ Charles
  D. Boynton

  	 

	
   

  	
  Print Name:

  	
  Charles D.
  Boynton

  	 

	
   

  	
  Its:

  	
  Director of
  Finance

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
   

  	 

	
   

  	
  By:

  	
   

  	
  /s/ Brian
  Griggs

  	 

	
   

  	
  Print Name:

  	
  Brian Griggs

  	 

	
   

  	
  Its:

  	
  Authorized
  Representative

  	 

										

 

3Exhibit 10.3

 

WAIVER
AND STANDSTILL AGREEMENT

 

This Waiver and Standstill
Agreement (this “AGREEMENT”), dated as of August 22, 2002, is made by and among
Krupp Government Income Trust, a Massachusetts Business Trust (“GIT”), Krupp
Government Income Trust II, a Massachusetts Business Trust (“GIT 2” and,
collectively with GIT, the “TRUSTS”), Berkshire Income Realty, Inc. (“BIR”),
Berkshire Income Realty-OP, L.P. (“BIR-OP” and, collectively with BIR, the
“PURCHASERS”).

 

WHEREAS, the Declaration of
Trust of each of the Trusts, as presently in effect (collectively, the
“DECLARATIONS OF TRUST”), among other things, prohibits the Ownership by a
Person (as those terms are defined herein and therein) of more than 9.8% of the
outstanding shares of such Trust (the “EXCESS SHARE PROVISION”); and

 

WHEREAS, each of the
Declarations of Trust further provides that the trustees of such Trust (the
“TRUSTEES”) may in their discretion waive the Excess Share Provision provided
that certain conditions are met relating to the effect of such waiver (the
“EXCESS SHARE WAIVER”) on the applicable Trust’s status under the Internal
Revenue Code as a real estate investment trust (a “REIT”); and

 

WHEREAS, the Purchasers have
proposed to acquire up to 55% of the outstanding shares of each of the Trusts
in exchange for the Series A preferred stock of BIR in connection with the
formation of a REIT whose primary goal will be to acquire, own and operate
multi-family residential properties (the “EXCHANGE OFFER”); and

 

WHEREAS, in connection with
the Exchange Offer, the Purchasers have requested that the Trustees of each of
the Trusts grant an Excess Share Waiver to each of the Purchasers pursuant to
Article XII.1(G) of each of the Declarations of Trust; and

 

WHEREAS, the Trustees of
each of the Trusts have determined to grant such Excess Share Waivers on the
terms and conditions set forth herein;

 

NOW, THEREFORE, in
consideration of the mutual covenants and agreements contained herein, the
parties hereto agree as follows:

 

1.             DEFINITIONS.

 

As used in this Agreement,
the following terms shall have the meanings set forth below:

 

1.1. “ACTION” means any
claim, action, cause of action or suit (whether in contract or tort or
otherwise), litigation (whether at law or in equity, whether civil or
criminal), controversy, assessment, arbitration, investigation, hearing,
charge, complaint, demand, notice or proceeding to, from, by or before any
United States federal, state or local or any foreign government, or political
subdivision thereof, or any multinational organization or authority or any
authority, agency or commission entitled to exercise any administrative,
executive, judicial, legislative, police, regulatory or taxing authority or
power, any court or tribunal (or any department, bureau or division thereof),
or any arbitrator or arbitral body.

 

1

 

1.2. “AFFILIATE” shall have
the meaning given it in Rule 12b-2 under the Exchange Act. For the avoidance of
doubt, the Trusts shall not be deemed to be an Affiliate of the Purchaser.

 

1.3. “AGREEMENT” shall have
the meaning set forth in the preamble.

 

1.4. “ASSOCIATE” shall have
the meaning given it in Rule 12b-2 under the Exchange Act. For the avoidance of
doubt, the Trusts shall not be deemed to be an Associate of the Purchaser.

 

1.5. “BIR” shall have the
meaning set forth in the preamble.

 

1.6. “BIR-OP” shall have the
meaning set forth in the preamble.

 

1.7. “BUSINESS COMBINATION”
shall mean (i) any merger or consolidation of either Trust with (a) the
Purchasers, their Affiliates or Associates, or (b) any other entity if the
merger or consolidation is caused by the Purchasers, their Affiliates or
Associates; (ii) any sale, lease, exchange, mortgage, pledge, transfer or other
disposition of assets, in one transaction or a series of transactions, except
proportionally as a holder of Shares, whether as part of a dissolution or
otherwise, by either Trust to the Purchasers, their Affiliates or Associates;
(iii) any transaction which results in the issuance or transfer by either Trust
of any Shares to the Purchasers, their Affiliates or Associates, except (a)
pursuant to the exercise, exchange or conversion of securities exercisable for,
exchangeable for or convertible into Shares, which securities were outstanding
on the date of the Exchange Offer, (b) pursuant to a dividend paid or made by
such Trust from any source in respect of the Shares, or the exercise, exchange
or conversion of securities exercisable for, exchangeable for or convertible
into Shares which securities are distributed PRO RATA to all holders of Shares,
which securities were outstanding on the date of the Exchange Offer, (c)
pursuant to an exchange offer by such Trust to purchase Shares made on the same
terms to all holders of Shares, or (d) the issuance or transfer of Shares by
such Trust; PROVIDED, HOWEVER, that in no case under clauses (b) through (d)
above, inclusive, that there shall be an increase in the Purchasers’
proportionate Ownership of the Shares; (iv) any transaction by either Trust which
has the effect, directly or indirectly, of increasing the proportionate
Ownership of the Shares (or securities convertible into Shares) which are owned
by the Purchasers, except as a result of any purchase or redemption of any
Shares not caused, directly or indirectly, by the Purchasers, their Affiliates
or Associates; or (v) any receipt by the Purchasers, their Affiliates or
Associates of the benefit, directly or indirectly, except proportionately as a
holder of Shares of such Trust, of any loans, advances, guarantees, pledges or
other financial benefits, other than those expressly permitted in subsections
(i) through (iv) above, inclusive, provided by or through such Trust.

 

1.8. “CODE” shall mean the
Internal Revenue Code of 1986, as amended.

 

1.9. “DECLARATIONS OF TRUST”
shall have the meaning set forth in the recitals.

 

1.10. “EXCESS SHARE
PROVISION” shall have the meaning set forth in the recitals.

 

1.11. “EXCESS SHARE WAIVER”
shall have the meaning set forth in the recitals.

 

1.12. “EXCHANGE ACT” shall
mean the Securities Exchange Act of 1934, as amended.

 

2

 

1.13. “EXCHANGE OFFER” shall
have the meaning set forth in the recitals.

 

1.14. “INDEPENDENT TRUSTEE”
shall mean a Trustee of one or both of the Trusts who (i) is not an Affiliate,
directly or indirectly, of the Krupp Mortgage Advisors Limited Partnership
(together with any successors, the “Advisor”), whether by ownership of,
ownership interest in, employment by, any material business or professional
relationship with, or services as an officer or director of, the Advisor or its
Affiliates, (ii) does not serve as a director or trustee for more than two
other REITs organized by the Advisor or its Affiliates, and (iii) performs no
other services for the Trust, except as a Trustee. For this purpose, an
indirect relationship shall include circumstances in which an immediate family
member of a Trustee has one of the foregoing relationships with the Advisor or
the Trust.

 

1.15. “INDIVIDUAL” shall
have the meaning given it in Section 542(a)(2) of the Code, as modified by
Section 856(h) of the Code.

 

1.16. “GIT” and “GIT 2”
shall have the meanings set forth in the preamble.

 

1.17. A Person shall be
considered to “OWN”, be the “OWNER” or have “OWNERSHIP” of equity interests
(including without limitation Shares) if such Person is treated as owner of
such equity interests for purposes of Section 542 and Section 544 of the Code
as modified by Section 856(h) of the Code. 

 

1.18. “PERSON” shall include
an individual, corporation, partnership, estate, trust, association, joint
stock company, unincorporated organization or other entity and also includes a
group as that term is used for purposes of Section 13(d)(3) of the Exchange
Act.

 

1.19. “PURCHASERS” shall
have the meaning set forth in the preamble.

 

1.20. “REIT” shall have the
meaning set forth in the recitals.

 

1.21. “SHARES” of a Trust
shall mean shares of beneficial interest, no par value, of such Trust.

 

1.22. “TRUSTEES” shall have
the meaning set forth in the recitals.

 

1.23. “TRUSTS” shall have
the meaning set forth in the preamble.

 

2.             EXCESS SHARE WAIVER.

 

2.1. EXEMPTION FROM EXCESS
SHARE PROVISIONS. Subject to the terms and conditions of this Agreement, each
of the Trusts hereby exempts each of the Purchasers, in respect of the
acquisition of Shares of such Trust pursuant to the Exchange Offer, from the
provisions of Article XII.1(A) of each of the Declarations of Trust regarding a
Person becoming an Owner of Shares of such Trust in excess of 9.8% of the outstanding
Shares, but less than 80% of the outstanding Shares; PROVIDED, that (i) each
Trust shall have received contemporaneously with this grant of such exemption
an opinion of counsel from counsel to the Purchasers in the form attached as
EXHIBIT A hereto; (ii) such opinions shall be reconfirmed as of the
consummation of the Exchange Offer; (iii) each Trust shall have received an
opinion of counsel from counsel to

 

3

 

the Purchasers that this Agreement is enforceable
against the Purchasers in accordance with its terms; and (iv) the Purchasers
shall have furnished to each Trust a copy of the opinion of an independent
investment bank, when delivered to the Purchasers, to the effect that the
consideration to be received by the holder of Shares of the Trusts tendered in
the Exchange Offer is fair, from a financial point of view, to such holder.

 

2.2. LIMITATION ON OWNERSHIP
OF TRUSTS. Each of the Trusts will use its best efforts to prevent any Person
(other than the Purchasers and Persons treated as Owners of the outstanding
Shares of each Trust through their Ownership of the Purchasers) from becoming
the Owner of more than 4.9% of the outstanding Shares of such Trust, including
by utilizing any redemption provisions of the Trust and all available powers
under the Declaration of Trust to prevent or refuse to permit the transfer of
Shares in order to preserve the status of the Trust as a REIT under the Code;
PROVIDED, HOWEVER, that if any court of competent jurisdiction shall determine
any such action is ineffective or unauthorized in any instance, the Trust shall
have no liability to the Purchasers and the Purchasers shall promptly exercise
their rights described in Section 3.1.2 of this Agreement to protect and preserve
the status of the Trust

as a REIT.

 

2.3. TERM. The exemption
granted by Section 2.1 above shall expire if the Purchasers have not acquired
more than 9.8% of the outstanding Shares of a Trust pursuant to the Exchange
Offer by March 31, 2003. The provisions of Section 2.2 above shall expire at
such time as the Purchasers Own 9.8% or less of the outstanding Shares of such
Trust.

 

2.4. COMPLIANCE WITH
REGULATIONS. Each of the Trusts will comply with the procedures imposed by the
regulations promulgated under Section 857(f) of the Code for purposes of
determining the Ownership of the outstanding Shares of the Trust and shall
furnish to the Purchasers copies of all information provided by the holders of
Shares of such Trust in accordance with such procedures.

 

2.5. PROHIBITED ACTIONS. The
Trusts will not, without the prior written consent of the Purchasers, take, or
fail to take, any action that causes any Shares of the Trusts acquired by the
Purchasers pursuant to the Exchange Offer to be deemed “Excess Shares” under
the Declarations of Trust; PROVIDED, HOWEVER, that nothing in this Agreement
shall require the Trusts to take any such actions to preclude the application
of the Excess Share Provisions of the Declarations of Trust to any other
transaction not expressly permitted under this Agreement, whether involving the
Purchasers or any Person treated as an Owner of the Shares of any Trust as a
consequence of such Person’s direct or indirect interest in any Purchaser.

 

3.             STANDSTILL PROVISIONS.

 

3.1.
GENERAL STANDSTILL.

 

3.1.1.
LIMITATION ON OWNERSHIP BY THE PURCHASERS. The Purchasers shall not Own, or
offer, propose or agree to Own, in the aggregate, directly or indirectly, any
Shares of either of the Trusts in excess of fifty-five (55%) percent of the
outstanding Shares of such Trust.

 

4

 

3.1.2.
LIMITATION ON OWNERSHIP BY INDIVIDUALS. Each Purchaser shall by the provisions
of its organizational instruments and by agreement with its shareholders and
partners secure effective and enforceable rights to prevent, and shall
prohibit, the acquisition or retention of shares or partnership interests in
such Purchaser by any Person to the extent necessary so that (i) no Individual
shall Own more than 23.0% (by value) of the outstanding Shares of either Trust;
(ii) no two Individuals shall collectively Own more than 30% (by value) of the
outstanding Shares of such Trust; (iii) no three Individuals shall collectively
Own more than 36.5% (by value) of the outstanding Shares of such Trust; (iv) no
four Individuals shall collectively Own more than 43.0% (by value) of the
outstanding Shares of such Trust; (v) no five Individuals shall collectively
Own more than 49.5% (by value) of the outstanding Shares of such Trust; and
(vi) no Individual not taken into account in the immediately preceding clauses
shall, as a consequence of such Person’s Ownership of shares of BIR, Own more
than 1.75% (by value) of the outstanding Shares of either Trust. Without
limiting the generality of the foregoing, the Purchasers agree that they shall
make distributions of available cash, dispose of Shares of either Trust, or
take any other reasonable action necessary or appropriate to maintain the
foregoing limitations on Ownership of the Trusts.

 

3.1.3.
VIOLATION. If a Purchaser, or any Person that is treated as Owning Shares of
any Trust as a consequence of such Person’s direct or indirect interest in such
Purchaser, Owns, or offers, proposes or agrees to Own or retain any Shares of
either of the Trusts in violation of this Agreement, such Purchaser shall
notify the Trusts and shall immediately take all such action as necessary to
cause such violation to be corrected in compliance with the provisions of this
Agreement, the organizational documents of the Purchasers, and related
agreements between the Purchasers and their shareholders or partners; PROVIDED,
HOWEVER, that the Trusts may also pursue any other available remedy to which
they may be entitled as a result of such violation.

 

3.2. COMPLIANCE WITH REGULATIONS.
BIR will comply with the procedures imposed by the regulations promulgated
under Section 857(f) of the Code for purposes of determining the Ownership of
the outstanding shares of BIR. BIR-OP will follow the same procedures as if it
were governed by the provisions of Section 857(f). Each Purchaser shall furnish
to the Trusts copies of all information provided by the shareholders or
partners of such Purchaser in accordance with such procedures and any other
procedures adopted by the Purchasers in order to ensure compliance with the
provisions of this Agreement.

 

3.3. VALUATION REPORTS. For
purposes of ensuring compliance with the provisions of Section 3.1.2 hereof,
the Purchasers shall furnish to the Trustees of each Trust (i) each fiscal
quarter, a report setting forth the best judgment of the General Partner of
BIR-OP and of the directors of BIR as to the value of the different classes of
interests in each of the Purchasers and their determination of the percentage
Ownership in the Trusts held by Individuals that are direct and indirect
partners of BIR-OP (provided, however, that for those Individuals who are
indirect partners of BIR-OP solely by reason of the fact that they Own shares
of BIR, it shall be sufficient to represent that no such Individual Owns more
than 1.75% (by value) of the outstanding shares of either Trust solely by
reason of such Individual’s Ownership of shares of BIR); and (ii) annually, an
audit by the Purchasers’ independent accountants (or such other experts
reasonably acceptable to the Trusts) of the valuation methods and assumptions
used to prepare such reports.

 

5

 

3.4. FURTHER INFORMATION.
Each Purchaser shall promptly provide such further information regarding the
Ownership of its respective equity interests as the Trustees of the Trusts
shall from time to time reasonably request.

 

3.5. BOARDS OF TRUSTEES.
Each Purchaser shall not, and shall cause each Affiliate and Associate of such
Purchaser not to, directly or indirectly seek to change the composition of the
Board of Trustees of either of the Trusts such that the majority of such Board
of Trustees would not be comprised of Independent Trustees.

 

3.6. ACTIONS AFFECTING
STATUS. Each Purchaser shall not, and shall cause each Affiliate and Associate
of such Purchaser not to, directly or indirectly take any action to cause
either of the Trusts to cease to be a reporting company under the Exchange Act.

 

3.7. BUSINESS COMBINATIONS.
Each Purchaser shall not, and shall cause each Affiliate and Associate of such
Purchaser not to, alone or in concert with any Person, directly or indirectly
solicit, seek to effect, negotiate with or provide any information to any other
party with the intent of effecting, or make any statement or proposal, whether
written or oral, with the intent of effecting

any Business Combination with either or both
of the Trusts that shall not have been approved by a majority of the
Independent Trustees of such Trust.

 

4.             MISCELLANEOUS.

 

4.1. SUCCESSION AND
ASSIGNMENT; NO THIRD-PARTY BENEFICIARY. This Agreement shall be binding upon
and inure to the benefit of the parties hereto and their respective successors
and permitted assigns, each of which such successors and permitted assigns
shall be deemed to be a party hereto for all purposes hereof. Except as
expressly provided herein, this Agreement is for the sole benefit of the
parties and their permitted successors and assignees and nothing herein
expressed or implied shall give or be construed to give any Person, other than
the Parties and such successors and assignees, any legal or equitable rights
hereunder.

 

4.2. AMENDMENTS AND WAIVERS.
No amendment or waiver of any provision of this Agreement shall be valid and
binding unless the same shall be in writing and signed by the Trusts and the
Purchasers. No waiver by any party of any breach of any provision hereunder,
whether intentional or not, shall be deemed to extend to any prior or
subsequent breach of any such provision hereunder or affect in any way any
rights arising by virtue of any prior or subsequent such occurrence. No delay
or omission on the part of any party in exercising any right, power or remedy
under this Agreement shall operate as a waiver thereof.

 

4.3. ENTIRE AGREEMENT. This
Agreement constitutes the entire agreement among the parties hereto with
respect to the subject matter hereof and supersedes any and all prior
discussions, negotiations, proposals, undertakings, understandings and
agreements, whether written or oral, with respect thereto.

 

4.4. COUNTERPARTS. This
Agreement may be executed in any number of counterparts, each of which shall be
deemed an original, but all of which together shall constitute but one and the
same instrument. This Agreement shall become effective when each party hereto
shall have received counterparts hereof signed by the other parties hereto.

 

6

 

4.5. SEVERABILITY. Any term
or provision of this Agreement that is invalid or unenforceable in any
situation in any jurisdiction shall not affect the validity or enforceability
of the remaining terms and provisions hereof or the validity or enforceability
of the offending term or provision in any other situation or in any other
jurisdiction. In the event that any provision hereof would, under applicable
law, be invalid or unenforceable in any respect, each party hereto intends that
such provision shall be construed by modifying or limiting it so as to be valid
and enforceable to the maximum extent compatible with, and possible under, applicable
law.

 

4.6. HEADINGS. The headings
contained in this Agreement are for convenience purposes only and shall not in
any way affect the meaning or interpretation hereof.

 

4.7. CONSTRUCTION. The
parties have participated jointly in the negotiation and drafting of this
Agreement. In the event an ambiguity or question of intent or interpretation
arises, this Agreement shall be construed as if drafted jointly by the parties
and no presumption or burden of proof shall arise favoring or disfavoring any
party by virtue of the authorship of any of the provisions of this Agreement.
The parties intend that each provision contained herein shall have independent
significance.

 

4.8. GOVERNING LAW. This
Agreement, the rights of the parties and all Actions arising in whole or in
part under or in connection herewith shall be governed by and construed in
accordance with the domestic substantive laws of The Commonwealth of
Massachusetts, without giving effect to any choice or conflict of law provision
or rule that would cause the application of the laws of any other jurisdiction.

 

4.9. JURISDICTION; VENUE.
Each party to this Agreement, by its execution hereof, (a) hereby irrevocably
submits to the exclusive jurisdiction of the state courts of The Commonwealth
of Massachusetts or the United States District Court located in The
Commonwealth of Massachusetts for the purpose of any Action between the parties
arising in whole or in part under or in connection with this Agreement, (b)
hereby waives to the extent not prohibited by applicable law, and agrees not to
assert, by way of motion, as a defense or otherwise, in any such Action, any
claim that it is not subject personally to the jurisdiction of the above-named
courts, that its property is exempt or immune from attachment or execution,
that any such Action brought in one of the above-named courts should be
dismissed on grounds of FORUM NON CONVENIENS, should be transferred or removed
to any court other than one of the above-named courts, or should be stayed by
reason of the pendency of some other proceeding in any other court other than
one of the above-named courts, or that this Agreement or the subject matter
hereof may not be enforced in or by such court and (c) hereby agrees not to
commence any such Action other than before one of the above-named courts.

 

Each party further agrees
that for any Action between the parties arising in whole or in part under or in
connection with this Agreement, such party bring Actions only in the City of
Boston. Each party further waives any claim and shall not assert that venue
should properly lie in any other location within the selected jurisdiction.
Notwithstanding any other provision of this Agreement, a party may commence an
Action in any court and location (a) solely for the purpose of enforcing an
order or judgment issued by one of the courts specified above and (b) to the
extent set forth in Section 6.10.

 

7

 

4.10. SPECIFIC PERFORMANCE.
Each of the parties acknowledges and agrees that the other parties would be
damaged irreparably in the event any of the provisions of this Agreement are
not performed in accordance with their specific terms or otherwise are
breached. Accordingly, each of the parties agrees that, without posting bond or
other undertaking, the other parties shall be entitled to an injunction or
injunctions to prevent breaches of the provisions of this Agreement and to
enforce specifically this Agreement and the terms and provisions hereof in any
Action instituted in any court of the United States or any state thereof having
jurisdiction over the parties and the matter in addition to any other remedy to
which it may be entitled, at law or in equity. Each party further agrees that,
in the event of any action for specific performance in respect of such breach,
it shall not assert the defense that a remedy at law would be adequate.

 

4.11. WAIVER OF JURY TRIAL.
TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW THAT CANNOT BE WAIVED, THE
PARTIES HEREBY WAIVE, AND COVENANT THAT THEY WILL NOT ASSERT (WHETHER AS
PLAINTIFF, DEFENDANT OR OTHERWISE), ANY RIGHT TO TRIAL BY JURY IN ANY ACTION
ARISING IN WHOLE OR IN PART UNDER OR IN CONNECTION WITH THIS AGREEMENT, WHETHER
NOW EXISTING OR HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE.
THE PARTIES AGREE THAT ANY OF THEM MAY FILE A COPY OF THIS PARAGRAPH WITH ANY
COURT AS WRITTEN EVIDENCE OF THE KNOWING, VOLUNTARY AND BARGAINED-FOR AGREEMENT
AMONG THE PARTIES IRREVOCABLY TO WAIVE ITS RIGHT TO TRIAL BY JURY IN ANY
PROCEEDING WHATSOEVER BETWEEN THEM RELATING TO THIS AGREEMENT.

 

[THE REMAINDER OF THIS PAGE
IS INTENTIONALLY BLANK. SIGNATURES FOLLOW.]

 

8

 

IN WITNESS WHEREOF, each of
the undersigned has executed this Agreement as an agreement under seal as of
the date first above written.

 

	
  The Trusts:

  	
  KRUPP GOVERNMENT INCOME
  TRUST

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Douglas Krupp

  	
   

  
	
   

  	
   

  	
  Name: Douglas Krupp

  
	
   

  	
   

  	
  Title: Chairman

  
	
   

  	
   

  	
   

  
	
   

  	
  KRUPP GOVERNMENT INCOME
  TRUST II

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Douglas Krupp

  	
   

  
	
   

  	
   

  	
  Name: Douglas Krupp

  
	
   

  	
   

  	
  Title: Chairman

  
	
   

  	
   

  	
   

  
	
  The Purchasers: 

  	
  BERKSHIRE INCOME REALTY,
  INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ David Quade

  	
   

  
	
   

  	
   

  	
  Name: David Quade

  
	
   

  	
   

  	
  Title: President

  
	
   

  	
   

  	
   

  
	
   

  	
  BERKSHIRE INCOME
  REALTY-OP, L.P.

  
	
   

  	
  by:

  	
   Berkshire Income Realty, Inc.,

  its general partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ David Quade

  	
   

  
	
   

  	
   

  	
  Name: David Quade

  
	
   

  	
   

  	
  Title: President

  

 

9

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