Document:

<PAGE>

                                EXHIBIT 10.104

                    BOND REAL PROPERTY LEASE AGREEMENT FOR

                    THE INGRAM MICRO DISTRIBUTION FACILITY
<PAGE>

                      THE INDUSTRIAL DEVELOPMENT BOARD OF
                       THE CITY OF MILLINGTON, TENNESSEE

                  (a Tennessee public nonprofit corporation)

                                      TO

                        LEASE PLAN NORTH AMERICA, INC.

                           (an Illinois corporation)

                      ___________________________________

                           BOND REAL PROPERTY LEASE

                         DATED AS OF DECEMBER 20, 1995
                      ___________________________________

                                    This instrument prepared by:

                                    Baker, Donelson, Bearman & Caldwell
                                    Twentieth Floor
                                    First Tennessee Building
                                    165 Madison Avenue
                                    Memphis, TN 38103

<PAGE>

                               TABLE OF CONTENTS
                               -----------------

(This table of contents is provided for purposes of convenience only and does
not constitute a part of the Lease.)

<TABLE>
<CAPTION>
                                                                            Page
                                                                            ----
<S>                                                                         <C>
ARTICLE I
     Definitions...........................................................   2

ARTICLE II
     Representations, Warranties and Covenants of
     Lessor and Lessee.....................................................   4

ARTICLE III

     Commencement and Completion of Project; Issuance of
     the Bond; Compliance with Laws; Lessee's Acceptance;
     Permitted Contests; Assignment of Lessor's Rights.....................   5

ARTICLE IV
     Lease Term............................................................  10

ARTICLE V
     Rent..................................................................  10

ARTICLE VI
     Rent Absolute; State of Title.........................................  11

ARTICLE VII
     Taxes and Other Charges...............................................  13

ARTICLE VIII
     Liens.................................................................  15

ARTICLE IX
     Indemnification and Non-Liability of Lessor...........................  16

ARTICLE X
     Insurance.............................................................  17

ARTICLE XI
     Maintenance and Repair................................................  19
</TABLE>

                                       i
<PAGE>

<TABLE>
<S>                                                                         <C>
ARTICLE XII
     Condemnation..........................................................  19

ARTICLE XIII
     Casualty..............................................................  22

ARTICLE XIV
     Additions, Alterations, Improvements,
     Replacements and New Construction.....................................  23

ARTICLE XV
     Subletting, Assignments and Mortgaging................................  24

ARTICLE XVI
     Performance of Lessee's Obligations by Lessor;
     Permitted Contests....................................................  25

ARTICLE XVII
     Events of Default; Termination........................................  26

ARTICLE XVIII
     Repossession..........................................................  27

ARTICLE XIX
     Reletting.............................................................  28

ARTICLE XX
     Survival of Lessee's Obligations; Damages.............................  28

ARTICLE XXI
     Purchase and Purchase Prices..........................................  30

ARTICLE XXII
     Recording and Filing; Other Instruments...............................  31

ARTICLE XXIII
     Miscellaneous.........................................................  32
</TABLE>

                                      ii
<PAGE>

                           BOND REAL PROPERTY LEASE
                           ------------------------

     THIS LEASE (the "Lease"), made and entered into as of December 20, 1995, by
and between THE INDUSTRIAL DEVELOPMENT BOARD OF THE CITY OF MILLINGTON,
TENNESSEE, a public nonprofit corporation organized and existing under the laws
of the State of Tennessee (hereinafter called "Lessor"), and LEASE PLAN NORTH
AMERICA, INC., an Illinois corporation (hereinafter called "Lessee");

                             W I T N E S S E T H:

     WHEREAS, Lessor is a public nonprofit corporation and a public
instrumentality of The City of Millington, and is authorized under Sections 7-
53-101 to 7-53-311, inclusive, Tennessee Code Annotated, as amended (hereinafter
called the "Act"), to acquire, whether by purchase, exchange, gift, lease, or
otherwise, and to own, lease and dispose of properties for the public purpose of
promoting industry and developing trade by inducing manufacturing, industrial,
governmental, educational and commercial enterprises to locate in or remain in
the State of Tennessee and further the use of its agricultural products and
natural resources; and

     WHEREAS, to induce Lessee to cause a distribution facility to be operated
in Shelby County, Tennessee, Lessor has acquired land located in Shelby County,
Tennessee, and the Lessor will construct on such land such facility in
accordance with Lessee's requirements, and Lessor will lease said real property
to Lessee on the terms and conditions hereof; and

     WHEREAS, to obtain funds for such purposes Lessor will issue and sell to
Lease Plan North America, Inc. (in its capacity as purchaser of the Bond,
hereinafter referred to as the "Purchaser") its Industrial Development Revenue
Note (Ingram Micro L.P.) Series 1995 (herein sometimes referred to as the
"Bond") in the principal amount of not exceeding $22,000,000.00, under and
pursuant to the Act, the Bond to be secured by a Fee Construction Mortgage Deed
of Trust and Assignment of Rents and Leases dated as of the date hereof (the
"Mortgage") from the Lessor to an individual trustee for the benefit of the
Purchaser, and the proceeds from the sale of the Bond shall be deposited as, and
withdrawn in the manner and for the purposes, hereinafter set forth; and

     NOW, THEREFORE, Lessor, for and in consideration of the payments
hereinafter stipulated to be made by Lessee, and the covenants and agreements
hereinafter contained to be kept and performed by Lessee, does by these presents
demise, lease and let unto Lessee, and Lessee does by these presents hire, lease
and rent from Lessor, for the Term and upon the conditions hereinafter stated,
the premises described in Schedule A attached hereto (hereinafter called the
                          ----------
"Land") together with the

                                       1
<PAGE>

distribution facility and other related facilities and improvements thereon or
hereafter constructed thereon and appurtenances thereto;

     UNDER AND SUBJECT, however, to the encumbrances, if any, shown on Schedule
                                                                       --------
B; and
-

     UNDER AND SUBJECT to the following terms and conditions:

                                   ARTICLE I

                                  Definitions
                                  -----------

     Terms not defined herein shall have the meanings ascribed thereto in the
Participation Agreement by and among Lessee, Sublessee and ABN Amro Bank, N.V.,
Atlanta Branch, of even date herewith (the "Participation Agreement").  In
addition to the words, terms and phrases elsewhere defined in this Lease, the
following words, terms and phrases as used in this Lease shall have the
following respective meanings:

     "Act" shall mean Sections 7-53-101 to 7-53-311, inclusive, of Tennessee
Code Annotated, as amended.

     "All Unpaid Installments" shall mean an amount equal to (i) the then unpaid
principal amount of the Bond and all interest accrued or to accrue on and prior
to the next succeeding date or dates on which the Lessor can pay or prepay the
Bond, and (ii) any additional rental and any other amounts due or to become due
hereunder prior to the time that the Bond is paid in full, including without
limitation any unpaid fees and expenses of Lessor which are then due or will
become due prior to the time that the Bond is paid in full.

     "Authorized Lessee Representative" means the Authorized Sublessee
Representative, except that Lessee may, by written notice to the Purchaser,
designate an Authorized Lessee Representative in lieu of the Authorized
Sublessee Representative.

     "Authorized Sublessee Representative" means Paul H. LaPlante, Senior
Director Facilities and Real Estate, except that Sublessee may, by written
notice to the Purchaser, designate additional Authorized Sublessee
Representatives or delete Authorized Sublessee Representatives.

     "Basic Rent" shall mean the amounts described in Section 5.1 hereof.

     "Bond" shall mean the $22,000,000.00 Industrial Development Revenue Note
(Ingram Micro L.P.) Series 1995 issued by the Lessor.

                                       2
<PAGE>

     "Bond Documents" shall mean the Bond, this Lease, the Mortgage, and the
PILOT Agreement.

     "Building" shall mean all improvements situated on the Land, as they now
exist or may hereafter be modified.

     "Business Day" means any day other than a Saturday, a Sunday, or a public
holiday or the equivalent for banks generally in the State of Tennessee.

     "Completion Date" means the date of receipt by the Purchaser of the last of
the Certificates and other items required pursuant to the last paragraph of
Section 3.3 hereof.

     "Initial Basic Rent Payment" means the $294,172.50 payment due from the
Lessee to the Lessor.

     "Land" shall mean the real property described in Schedule A attached hereto
                                                      ----------
which, by this reference, is incorporated herein.

     "Lease" shall mean this instrument as originally executed or as it may from
time to time be supplemented or amended by one or more instruments supplemental
hereto.

     "Mortgage" shall mean the Fee Construction Mortgage Deed of Trust and
Assignment of Rents and Leases dated as of the date hereof from the Lessor to a
trustee for the benefit of the Purchaser.

     "PILOT Agreement" shall mean the Payment in Lieu of Taxes Agreement between
Lessor and Sublessee, of even date herewith.

     "Prime Rate" shall mean the U.S. Prime Rate most recently published in The
                                                                            ---
Wall Street Journal and, if more than one such Prime Rate is simultaneously so
-------------------
published, the highest of such rates or, if the Wall Street Journal ceases
                                                -------------------
publishing such Prime Rate, the rate from time to time announced by Citibank,
N.A. as its "Prime Rate" or "Base Rate".

     "Project" shall mean the Land and the Building.

     "Purchaser" shall mean Lease Plan North America, Inc., an Illinois
corporation, as the original purchaser of the Bond, and any subsequent owner of
the Bond.

     "Sublease" shall mean that certain Master Lease of even date herewith
between the Lessee, as lessor, and Sublessee, as lessee, or any other sublease
by the Lessee permitted under Section 15.1 hereof.

                                       3
<PAGE>

     "Sublessee" shall mean Ingram Micro, L.P. a Tennessee limited partnership,
or other permitted sublessee under a Sublease.

     "Term" shall mean the term described in Section 4.1.

                                  ARTICLE II

                 Representations, Warranties and Covenants of
                 --------------------------------------------
                               Lessor and Lessee
                               -----------------

     2.1  Representations of Lessor.  The Lessor is a public corporation and
          -------------------------
governmental instrumentality of the State of Tennessee and is duly incorporated,
validly existing and in good standing under the laws of the State of Tennessee
and is validly organized pursuant to the provisions of the Act.  The Lessor is
authorized and empowered by the provisions of the Act, and has all requisite
corporate power and authority to execute and deliver and perform its obligations
under this Lease.  This Lease has been duly authorized, executed and delivered
on behalf of the Lessor and constitutes valid and binding obligations of the
Lessor in accordance with its terms, subject to bankruptcy, insolvency or other
laws affecting creditors' rights generally and general principles of equity.
The execution, delivery and performance by the Lessor of this Lease will not
contravene or constitute a default under any provision of applicable law or
regulation, the certificate of incorporation or by-laws of the Lessor or of any
material contract, agreement, judgment, order, decree, rule, regulation or other
instrument binding on it in each case where the result thereof would have a
material adverse effect on the ability of Lessor to perform hereunder.

     2.2  Representations, Warranties and Covenants of Lessee.  Lessee hereby
          ---------------------------------------------------
represents and warrants to, and agrees and covenants with the Lessor and the
Purchaser as follows:

            (a)  Organization and Good Standing.  Lessee is a corporation duly
                 ------------------------------
     organized, validly existing and in good standing under the laws of the
     State of Illinois and is duly qualified as a foreign corporation in the
     State of Tennessee.

            (b)  Requisite Power and Authorization.
                 ---------------------------------

                    (i)   This Lease constitutes the legal, valid and binding
            obligation of the Lessee enforceable against the Lessee in
            accordance with its terms, subject to bankruptcy, insolvency or
            other laws affecting creditors' rights generally and general
            principles of equity.

                    (ii)  Lessee has all requisite power, authority and legal
            right to execute and deliver this Lease and all other instruments
            and documents to
                                       4
<PAGE>

          be executed and delivered by Lessee pursuant hereto, to perform and
          observe the provisions thereof and to carry out the transactions
          contemplated thereby. All corporate action on the part of Lessee which
          is required for the execution, delivery, performance and observance by
          Lessee of this Lease has been duly authorized and effectively taken.

               (iii) None of the execution and delivery of this Lease,
          consummation of the transactions contemplated hereby or compliance
          with the terms and conditions hereof will conflict with, constitute a
          breach of or a default under or violate, any material agreement or
          instrument to which Lessee is a party or by which Lessee or any of
          Lessee's property is bound, or any existing law, administrative
          regulation, court order or consent decree applicable to Lessee, in
          each case where the result thereof would have a material adverse
          effect on the ability of Lessee to perform hereunder.

               (iv)  There is no action, suit or proceeding at law or in equity
          or by or before any governmental agency or authority or arbitral
          tribunal now pending or, to the knowledge of the Lessee, threatened
          against or affecting the Lessee or any of its properties or rights
          which might adversely affect the validity of this Lease or the
          transactions contemplated hereby.

                                  ARTICLE III

              Commencement and Completion of Project; Issuance of
              ---------------------------------------------------
             the Bond; Compliance with Laws; Lessee's Acceptance;
             ----------------------------------------------------
               Permitted Contests; Assignment of Lessor's Rights
               -------------------------------------------------

     3.1  Agreement to Acquire, Construct and Equip the Project.  Subject to
          -----------------------------------------------------
the provisions of Section 3.5 hereof Lessor agrees that:

     (a)  It has acquired the Land.

     (b)  Except for agreements previously executed by Sublessee and Lessor, it
shall not execute any contract for or with respect to the construction of the
Project or any part thereof without the prior written approval of Lessee.

     (c)  Before entering into any contract for the construction of the Building
or any part thereof, it will cause the contractor to execute and deliver (i) any
bond required by Tenn. Code Ann. (S) 12-4-101 et seq. and (ii) such other bond
                                              -- ---
as Lessee may request.

     Lessor agrees that it will enter into, or accept the assignment of, such
contracts as Lessee or Sublessee may request in order to effectuate the purposes
of this Section but that it will not execute any other contract or give any
order for such construction and

                                       5
<PAGE>

acquisition of the Project unless and until Lessee or Sublessee shall have
approved the same in writing.

     Lessor hereby makes, constitutes and appoints Sublessee as its true and
lawful agent, (a) to construct the Project, (b) to make, execute, acknowledge
and deliver any contracts, order, receipts, writings and instructions, either in
the name of the Sublessee solely or as the stated agent for Lessor, with any
other persons, firms or corporations, and in general to do all things which may
be requisite or proper, all for the construction of the Project with the same
powers and with the same validity as Lessor could do if acting in its own
behalf, (c) pursuant to the provisions of this Lease, to pay all fees, costs and
expenses incurred in the construction of the Project from funds made available
therefor in accordance with this Lease, and (d) to ask, demand, sue for, levy,
recover and receive all such sums of money, debts, dues and other demands
whatsoever which may be due, owing and payable to Lessor under the terms of any
contract, order, receipt, writing or instruction in connection with the
construction of the Project, and to enforce the provisions of any contract,
agreement, obligation, bond or other performance security.  So long as Lessee is
not in default under any of the provisions of this Lease, this appointment of
Sublessee to act as agent and all authority hereby conferred are granted and
conferred irrevocably to the Completion Date and thereafter until all activities
in connection with the construction of the Project shall have been completed,
and shall not be terminated prior thereto by act of Lessor or of Lessee or by
operation of law.

     Lessee agrees, pursuant to the authority and power granted in the preceding
paragraph, promptly to commence construction of the Project and to proceed with
such acquisition and renovation with due diligence, in a good and workmanlike
manner and in compliance with all legal requirements, ordinances and
restrictions, and to complete such construction within 2 years after the date
hereof.

     Lessor agrees to use its best efforts to cause the construction of the
Project to be completed with all reasonable dispatch and in accordance with the
schedule desired by the Sublessee.

     Lessee shall, on behalf of Lessor, pay all costs and fees incurred by
Lessor in connection with the issuance of the Bond, and to the extent that the
proceeds of the Bond are available therefor Lessee shall be reimbursed for
payment of such costs and fees and for such reimbursement pursuant to Section
3.3 hereof.

     3.2  Agreement to Issue Bond; Application of Bond Proceeds.  In order to
          -----------------------------------------------------
provide funds for payment of the costs of the construction provided for in
Section 3.1 hereof, Lessor agrees that it will sell at par and cause to be
delivered to the Purchaser the Bond in the original principal amount not
exceeding $22,000,000.

                                       6
<PAGE>

     3.3  Use of Proceeds.  The proceeds of the Bond will be deposited by the
          ---------------
Purchaser, on behalf of Lessor, in a separate demand deposit account (the
"Construction Fund") to be established by Lessee with a bank of its choice and
withdrawals therefrom shall be made by the Lessee only for the payment of, or
reimbursement of Lessee for payment of, the following costs and expenses:

          (a)  The fees, taxes and expenses for recording or filing any of the
     Bond Documents; the fees, taxes and expenses for recording or filing any
     financing statements and any other documents or instruments that either the
     Lessor or the Purchaser may deem desirable to file or record in order to
     perfect or protect the lien of any of the Bond Documents:

          (b)  The legal and fiscal fees and expenses incurred in connection
     with the authorization and issuance of the Bond, the preparation of the
     Bond Documents, and all other documents in connection therewith;

          (c)  The fees for architectural, engineering and supervisory services
     with respect to the Project;

          (d)  All costs in connection with the construction of the Building;

          (e)  All costs payable under Section 9.3 hereof; and

          (f)  Any other costs and expenses relating to the Project which would
     constitute a cost or expense for which Lessor may issue bonds under the
     provisions of the Act.

     Deposits into the Construction Fund shall be made by the Purchaser only
upon receipt by it of (i) a request for such deposit by Sublessee, and (ii) a
certification by Sublessee that such deposit is properly payable from the
proceeds of the sale of the Bond in accordance with this Section 3.3, the
requirements of the Operative Documents (with respect to an Advance under the
Participation Agreement) have been met, that none of the items for which the
deposit is proposed to be made has formed the basis for any payment theretofore
made from the proceeds of the sale of the Bond, and, with respect to any
reimbursement sought by Lessee, that it has incurred and paid costs in that
amount for the construction of the Project or the issuance of the Bond. Unless
the Purchaser consents to the contrary, disbursements shall not be made more
often than twice per month and only after the Purchaser has been in receipt of
the disbursement request and the other items required by this paragraph for
three (3) days.  Any payment of proceeds of the Bond made to the Lessee shall
constitute reimbursement of the costs certified by the Lessee or Sublessee to
have been paid.

                                       7
<PAGE>

     Notwithstanding the foregoing, whenever there shall exist an Event of
Default hereunder, or whenever the Purchaser reasonably determines that the
unfunded portion of the Bond will be insufficient to pay the costs required to
complete the Project, the Purchaser shall not be required to make any further
deposits into the Construction Fund.

     Nothing contained in this Lease or in any related document shall impose
upon the Lessor or the Purchaser any obligation to see to the proper application
of the proceeds of the Bond disbursed in accordance with the terms hereof.

     Upon completion of the construction of the Project, Lessee shall cause all
costs and expenses in connection therewith to be paid, and shall deliver to the
Purchaser a certificate signed by the Authorized Lessee Representative that (i)
construction of the Building has been completed in all respects and all costs of
labor, services, materials and supplies used in such renovation have been paid,
and (ii) all other facilities necessary in connection with the Project have been
acquired and constructed and all costs and expenses incurred in connection
therewith have been paid.  Notwithstanding the foregoing, such certificate may
state that it is given without prejudice to any rights against third parties
which exist at the date of such certificate or which may subsequently come into
being.  No proceeds of the Bond shall be disbursed after receipt of such items
and certificate.

     3.4  Lessee Required to Pay Construction Costs in Event Bond Proceeds
          ----------------------------------------------------------------
Insufficient.  In the event the proceeds of the Bond available for payment of
------------
the costs of the Project and the other costs, fees and expenses listed in
Section 3.3 should not be sufficient to pay the same in full, Lessee agrees to
complete the Project and pay all that portion of the costs of the Project and
the other costs, fees and expenses listed in Section 3.3 as may be in excess of
the monies available therefor from the proceeds of the sale of the Bond.  Lessor
does not make any warranty, either express or implied, that the proceeds of the
Bond which, under the provisions of this Lease, will be available for payment of
the costs of the Project, will be sufficient to pay all the costs which will be
incurred in that connection.

     3.5  Lessor to Pursue Remedies Against Contractors, Subcontractors and
          -----------------------------------------------------------------
Suppliers and Their Sureties.  In the event of default of any contractor,
----------------------------
subcontractor or supplier under any contract made by it in connection with the
Project or in the event of breach of warranty with respect to any material,
workmanship or performance guarantee, Lessor will at the request of Lessee
promptly proceed (subject to Lessee's advice to the contrary, and subject to
Lessor's rights of indemnity and reimbursement set forth in the Indemnity
Agreement, of even date herewith, in favor of the Lessor), either separately or
in conjunction with others, to exhaust the remedies of Lessor against the
contractor, subcontractor or supplier so in default and against each surety for
the performance of such contract. Lessee agrees to advise Lessor of the steps it
intends to take in connection with any such default.  If Lessee shall so notify
Lessor, Lessee may, in its own name or in

                                       8
<PAGE>

the name of Lessor, prosecute or defend any action or proceeding or take any
other action involving any such contractor, subcontractor or surety which the
Lessee deems reasonably necessary, and in such event Lessor hereby agrees to
cooperate fully with Lessee and to take all action necessary to effect the
substitution of Lessee for Lessor in any such action or proceeding. Any amounts
recovered by way of damages, refunds, adjustments or otherwise in connection
with the foregoing (a) if Lessee has corrected, at its own expense, the matter
which gave rise to such default or breach, shall be paid to Lessee or (b) if
Lessee has not corrected, at its own expense, the matter which gave rise to such
default or breach, shall be paid to the Purchaser as a prepayment on the Bond.

     3.6  Use of Leased Property.  Lessee is hereby granted and shall have the
          ----------------------
right during the Term to occupy and use the Leased Property as a distribution
facility. Lessor agrees that at Lessee's request and expense it will use all
reasonable efforts to insure that such uses are and will continue to be lawful
uses under all applicable zoning laws and regulations.

     3.7  Lessee's Acceptance of Leased Property.  With regard to Lessor, Lessee
          --------------------------------------
accepts the Project in its condition on the date of the commencement of the
Term, and assumes all risks, if any, resulting from any present or future latent
or patent defects therein or from the failure of the Project to comply with all
legal requirements applicable thereto, reserving, however, any and all rights of
Lessee with respect to parties other than Lessor.

     3.8  Assignment of Lessor's Rights.  Concurrently with the execution of
          -----------------------------
this Lease, Lessor will enter into the Mortgage pursuant to which the Lessor
will assign to the Purchaser Lessor's rights under this Lease as security for,
among other things, the payment of the Bond.  Lessee hereby consents to such
assignment and agrees to make all payments to Lessor required hereunder (other
than the Initial Basic Rent Payment) directly to the Purchaser without defense
or set-off by reason of any dispute between Lessee and Lessor.  Lessee shall pay
the Initial Basic Rent Payment to Lessor, and Purchaser shall have no right to
receive such payment.  Lessee further agrees that upon such assignment the
Purchaser shall be entitled to enforce the provisions of this Lease without
regard to whether the Lessor is then in default with respect to the Bond.
Lessor and Lessee further acknowledge that the execution and delivery of the
Mortgage will not constitute the merger of all of the interests in the Lease in
Lessee or the extinguishment of the Lease.  Assignment of this Lease shall in no
event constitute a merger of the estate or interest of the Lessee hereunder with
the estate or interest of (a) the Lessor hereunder or (b) Purchaser as assignee
of Lessor.

     3.9  Authorized Lessee Representatives.  Anything herein contained to the
          ---------------------------------
contrary notwithstanding, any notice, request, direction or similar
communication of Lessee required or permitted under this Article III shall be
executed by an Authorized Lessee Representative on behalf of the Lessee, and the
Purchaser and Lessor shall not

                                       9
<PAGE>

be obligated to accept or act upon any such notice, request, direction or other
communication unless it is made by an Authorized Lessee Representative on behalf
of the Lessee.

     3.10  Compliance with Laws; Lessee's Acceptance of Project.  Subject to the
           ----------------------------------------------------
provisions of Section 16.2, Lessee shall throughout the Term and at no expense
to Lessor promptly cure any violations under all laws, ordinances, orders,
rules, regulations and requirements of duly constituted public authorities,
which are or shall become applicable to the Project, the repair and alteration
thereof, including, without limitation, the Building and the use or manner of
use of the Project, whether or not such laws, ordinances, orders, rules,
regulations and requirements are foreseen or unforeseen, ordinary or
extraordinary, and whether or not they shall involve any change of governmental
policy or shall require structural or extraordinary repairs, alterations or
additions, irrespective of the cost thereof; provided, however, that if after
the Bond has been paid in full, Lessee, in lieu of compliance with such laws,
orders, rules, regulations and requirements, or the making of such additions,
changes or alterations, may elect to terminate this Lease, and, in such event
shall have no further liability hereunder.

                                  ARTICLE IV

                                  Lease Term
                                  ----------

     4.1   Term.  Subject to the provisions contained in this Lease, this Lease
           ----
shall be in full force and effect for a Term commencing on the date hereof and
ending at midnight December 31, 2026 (or, if such date is not a Business Day,
ending the next Business Day); provided, however, that Lessee's obligations
hereunder shall survive until principal of and interest on the Bond are paid in
full.

     Notwithstanding the foregoing, the Term of this Lease may be terminated by
Lessee upon (i) payment to Purchaser, as assignee under this Lease, of an amount
equal to All Unpaid Installments, and (ii) written notice to Lessor and
Purchaser.

                                   ARTICLE V

                                     Rent
                                     ----

     5.1   Basic Rent.  Lessee will pay to Lessor without notice or demand, in
           ----------
immediately available funds, on the date hereof the Initial Basic Rent Payment,
and thereafter, as Basic Rent on December 1, 1996 and on the first day of each
December thereafter during the Term (or, if any such date is not a Business Day
on the next Business Day together with interest through such date), an amount
equal to the principal of and interest on the Bond due on such date; provided,
that until the Bond has been paid in full, all such payments and all advance
payments of rent (other than the Initial

                                      10
<PAGE>

Basic Rent Payment) shall be made to the Purchaser, as assignee of the Lessor's
rights hereunder. Any payment of rent hereunder made by Lessee to Purchaser for
the benefit of Lessor shall be deemed paid to Lessor as if delivered to Lessor.
All Basic Rent paid hereunder shall be absolutely net to Lessor, free of any
taxes, costs, expenses, liabilities, charges or other deduction whatsoever with
respect to the Project and the possession, operation, maintenance, repair,
rebuilding or use thereof, or of any portion thereof, so that this Lease shall
yield such Basic Rent net to or for the account of Lessor throughout the Term.
Upon full prepayment of All Unpaid Installments to the Purchaser, the Lessee
shall have no further obligation to pay Basic Rent during the remaining portion
of the Term hereof.

     5.2  Advance Payment of Rent.  The Lessee may at any time without notice or
          -----------------------
penalty, at its option, pay in advance all or any portion of any installment or
installments of Basic Rent to become due hereunder. Any such prepayment shall be
applied first to accrued interest on the Bond and the remainder, if any, to
principal installments on the Bond in the inverse order of maturity, without
penalty or premium. Upon full prepayment of All Unpaid Installments, the Lessee
shall have no further obligation to pay Basic Rent during the remaining portion
of the Term hereof.

     5.3  Additional Rent.  Lessee agrees to pay, as additional rent, all other
          ---------------
amounts, liabilities and obligations which Lessee herein assumes or agrees to
pay, except that the liquidated damages referred to in Sections 20.2 and 20.3
shall not constitute additional rent. In the event of any failure on the part of
Lessee to pay any such amounts, liabilities or obligations, Lessor shall have
all rights, powers and remedies provided for herein or by law or equity or
otherwise in the case of nonpayment of the Basic Rent.

     5.4  Net Lease.  This Lease is a "net lease" and the Basic Rent, additional
          ---------
rent and all other sums payable hereunder to or for the account of Lessor shall
be paid promptly and without set-off, counterclaim, abatement, suspension,
deduction, diminution or defense.

                                  ARTICLE VI

                         Rent Absolute; State of Title
                         -----------------------------

     6.1  No Termination or Abatement for Damage or Destruction, Etc.  Except as
          ----------------------------------------------------------
otherwise expressly provided herein, and until the Bond has been paid in full,
this Lease shall not terminate, nor shall Lessee have any right to terminate
this Lease or be entitled to the abatement of any rent or any reduction thereof,
nor shall the obligations hereunder of Lessee be otherwise affected, by reason
of any damage to or the destruction of all or any part of the Project from
whatever cause, the loss or theft of the Project or any part thereof, the taking
of the Project or any portion thereof by condemnation or otherwise, the
prohibition, limitation or restriction of Lessee's use of

                                      11
<PAGE>

the Project, or the interference with such use by any private person or
corporation, or by reason of any eviction by paramount title or otherwise, or
for any other cause whether similar or dissimilar to the foregoing, any present
or future law to the contrary notwithstanding, it being the intention of the
parties hereto that the Basic Rent and additional rent reserved hereunder shall
continue to be payable in all events and the obligations of Lessee hereunder
shall continue unaffected, unless the requirement to pay or perform the same
shall be terminated pursuant to an express provision of this Lease.

     Lessee acknowledges that Lessor has made no representations as to the
condition of the Project.  This Lease shall not terminate, nor shall Lessee have
any right to terminate this Lease, or be entitled to the abatement of any rent
or any reduction thereof, nor shall the obligations hereunder of Lessee be
otherwise affected, by reason of or due to the condition of the Project.

     The obligations of Lessee to make the payments required in Article V and to
perform and observe the other agreements on its part contained herein shall be
absolute and unconditional.  Until such time as the principal of and interest on
the Bond shall have been fully paid, Lessee (i) will not suspend or discontinue
any payments provided for in Article V, (ii) will perform and observe all of its
other agreements contained in this Lease and (iii) except as provided in Article
XXI will not terminate this Lease for any cause including, without limiting the
generality of the foregoing, any acts or circumstances that may constitute
failure of consideration, destruction of or damage to the Project, commercial
frustration of purpose, or any change in the tax or other laws of the United
States of America, the State of Tennessee or any political subdivision thereof.

     6.2  No Termination for Insolvency, Etc. of Lessor.  Lessee covenants and
          ---------------------------------------------
agrees that it will remain obligated under this Lease in accordance with its
terms, and that Lessee will not take any action to terminate, rescind or avoid
this Lease, notwithstanding the bankruptcy, insolvency, reorganization,
composition, readjustment, liquidation, dissolution, winding-up or other
proceedings affecting Lessor or any assignee of Lessor in any such proceeding
and notwithstanding any action with respect to this Lease which may be taken by
any trustee or receiver of Lessor or any assignee of Lessor in any such
proceeding, or by any court in any such proceeding. Lessor covenants and agrees
that it will not voluntarily submit to any bankruptcy, insolvency,
reorganization, composition, readjustment, action for appointment of a receiver,
liquidation, dissolution, winding-up or other proceeding affecting it or any
assignee under this Lease without the prior written consent of Lessee, so long
as Lessee is not in default hereunder.

     6.3  Waiver of Rights by Lessee.  Except as provided in Article XV hereof
          --------------------------
until such time as the principal of and interest on the Bond shall have been
paid in full, Lessee waives, to the extent legally permissible, all rights now
or hereafter conferred by law (i) to quit, terminate or surrender this Lease or
the Project or any part thereof, or (ii) to any abatement, suspension, deferment
or reduction of the Basic Rent or additional

                                      12
<PAGE>

rent or any other sums payable under this Lease, except as otherwise expressly
provided herein, regardless of whether such rights shall arise from any present
or future constitution, statute or rule of law.

     6.4  Condition and Title of Project.  Lessee acknowledges that it has
          ------------------------------
examined the premises described in Schedule A attached hereto and the state of
                                   ----------
Lessor's title thereto prior to the making of this Lease and knows the condition
and state thereof as of the first day of the term of this Lease, and accepts the
same in said condition and state; that no representations as to the condition or
state thereof have been made by representatives of Lessor; and that Lessee in
entering into this Lease is relying solely upon its own examination thereof.
Lessor shall not be liable to Lessee for any damages resulting from failure of
or any defect in Lessor's title to the Land which interferes with, prevents or
renders burdensome the use of the Project or the compliance by Lessee with any
of the terms of this Lease, or from delay in obtaining possession of all or any
part thereof, from any cause whatsoever (except to the extent arising out of
Lessor's breach of its obligations under Section 6.5 or 8.1 hereof), and no such
failure of or defect in Lessor's title or delay shall terminate this Lease or
entitle Lessee to any abatement, in whole or in part, of any of the rentals or
any other sums provided to be paid by Lessee pursuant to any of the terms of
this Lease.

     Lessor makes no warranty, either express or implied, that the Project will
be suitable for Lessee's purposes or needs.

     6.5  No Conveyance of Title by Lessor.  Lessor covenants and agrees that,
          --------------------------------
during the Term of this Lease and if Lessee shall then not be in default under
this Lease, it will not convey, or suffer or permit the conveyance of, by any
voluntary act on its part, its title to the Project to any person, firm or
corporation whatsoever, irrespective of whether any such conveyance or attempted
conveyance shall recite that it is expressly subject to the terms of this Lease;
provided, however, that nothing herein shall restrict the conveyance or transfer
of the Project in accordance with any terms or requirements of this Lease or the
execution and delivery of the Mortgage.

                                  ARTICLE VII

                            Taxes and Other Charges
                            -----------------------

     7.1  Payment by Lessee - General.  Lessee agrees, subject to the provisions
          ---------------------------
of Section 16.2, to pay and discharge, as additional rent, punctually as and
when the same shall become due and payable, each and every cost, expense and
obligation of every kind and nature, foreseen or unforeseen, for the payment of
which Lessor or Lessee is or shall become liable by reason of its estate or
interest in the Project or any portion thereof, by reason of any right or
interest of Lessor or Lessee in or under this Lease, or by reason of

                                      13
<PAGE>

or in any manner connected with or arising out of the possession, operation,
maintenance, alteration, repair, rebuilding or use of the Project.

     7.2  Taxes and Other Governmental Charges.  Lessee agrees, subject to the
          ------------------------------------
provisions of Section 16.2, to pay and discharge, as additional rent, punctually
as and when the same shall become due and payable without penalty, all real
estate taxes, personal property taxes, business and occupation taxes,
occupational license taxes, water charges, sewage charges, assessments
(including, but not limited to, assessments for public improvements or benefits)
and all other governmental taxes, impositions and charges of every kind and
nature, extraordinary or ordinary, general or special, unforeseen or foreseen,
whether similar or dissimilar to any of the foregoing, which at any time during
the Term shall be or become due and payable by Lessor or Lessee and which shall
be levied, assessed or imposed:

          (i)   upon, or which shall be or become liens upon, the Project or any
     portion thereof or any interest of Lessor or Lessee therein or under this
     Lease or upon the rents payable hereunder;

          (ii)  upon or with respect to the possession, operation, maintenance,
     alteration, repair, rebuilding, use or occupancy of the Project or any
     portion thereof; or

          (iii) upon this transaction or any document to which Lessee is a
     party creating or transferring an interest or an estate in the Project;

under and by virtue of any present or future law, statute, regulation or other
requirement of any governmental authority, whether federal, state, county, city,
municipal or otherwise; provided, however, Lessee shall have no liability (a)
for any tax, charge, assessment or imposition attributable to properties or
operations of Lessor not involving the Project, or (b) with respect to payment
of any income taxes or similar taxes imposed upon Lessor for any period during
which no part of the Bond is unpaid.  It is the intention of the parties hereto
that, insofar as the same may be lawfully done, Lessor shall be free from all
costs, expenses and obligations and all such taxes, water charges, sewer
charges, assessments and all such other governmental impositions and charges,
and that this Lease shall yield net to Lessor not less than the Basic Rent and
any additional rent due hereunder throughout the Term.

     7.3  Lessee Subrogated to Lessor's Rights.  To the extent of any payments
          ------------------------------------
of additional rent by Lessee under this Article VII, Lessee shall be subrogated
to Lessor's rights in respect to the proceedings or matter which cause the Basic
Rent to be insufficient and any recovery by Lessor or release to Lessor of
moneys in such proceedings or matter shall be used to reimburse Lessee for the
amount of such

                                      14
<PAGE>

additional rent so paid by Lessee, provided always that the Basic Rent is paid
in the manner and at the time herein set forth.

     7.4  Utility Services.  Lessee agrees to pay or cause to be paid all proper
          ----------------
charges for gas, water, sewer, electricity, light, heat, power, telephone, and
other utility services used, rendered or supplied to, upon or in connection with
the Project. Lessee agrees that Lessor is not, nor shall it be, required to
furnish to Lessee or any other user of the Project any gas, water, sewer,
electricity, light, heat, power or any other facilities, equipment, labor,
materials or services of any kind.

     7.5  Fees and Expenses of Lessor.  Lessee agrees to pay as additional rent,
          ---------------------------
or cause to be paid, the reasonable expenses of Lessor relating to the Project
or to Lessor's rights or obligations hereunder, whether or not such fees or
expenses are payable before the commencement of, during, or after the expiration
of the Term.

     7.6  Proof of Payment.  Lessee covenants to furnish to Lessor, promptly
          ----------------
upon request, proof of the payment of any tax, assessment, and other
governmental or similar charge, and any utility charges, which is payable by
Lessee as provided in this Article.

     7.7  Proration.  Upon expiration or earlier termination of this Lease
          ---------
(except for the termination hereof pursuant to the provisions of Article XVII)
taxes, assessments and other charges which shall be levied, assessed or become
due upon the Project or any part thereof shall be prorated to the date of such
expiration or earlier termination.

     7.8  Payments in Lieu of Taxes.  The Lessor and the Lessee recognize that
          -------------------------
under present law, including specifically Section 7-53-305 of Tennessee Code
Annotated, that properties owned by the Lessor are exempt from all taxation in
the State of Tennessee. However, Sublessee has entered into an agreement for
payments in lieu of ad valorem taxes with the Lessor requiring it to make
certain payments in lieu of taxes with respect to the Project.

                                 ARTICLE VIII

                                     Liens
                                     -----

     8.1  Permitted Liens.  Subject to the provisions of Sections 15.1 and 16.2
          ---------------
herein, Lessee and Lessor will not create or permit to remain, and will
discharge, any lien, encumbrance or charge (other than a lien, encumbrance or
charge created or accepted by Lessor at the time of acquiring title or any lien
to secure the Bond in accordance with the terms of the Mortgage) upon the
Project or any part thereof or upon Lessor's or Lessee's respective interest
therein without the prior written consent of the Purchaser; provided that the
existence of any tax, mechanic's, laborer's, materialman's, supplier's or

                                      15
<PAGE>

vendor's lien or right in respect thereof shall not constitute a violation of
this Section 8.1 if payment is not yet due and payable with respect to such
claim.

                                  ARTICLE IX

                  Indemnification and Non-Liability of Lessor
                  -------------------------------------------

     9.1  General.  Lessee covenants and agrees, at its expense, to pay, and to
          -------
indemnify and save Lessor and the Purchaser harmless against and from any and
all claims by or on behalf of any person, firm, corporation, or governmental
authority, arising from the occupation, use, possession, conduct or management
of or from any work done in or about the Project or from the subletting of any
part thereof, including any liability for violation of conditions, agreements,
restrictions, laws, ordinances, or regulations affecting the Project or the
occupancy or use thereof. Lessee also covenants and agrees, at its expense, to
pay, and to indemnify and save Lessor harmless against and from, any and all
claims arising from (i) any condition of the Project, (ii) any breach or default
on the part of Lessee in the performance of any covenant or agreement to be
performed by Lessee pursuant to this Lease, (iii) any act or negligence of
Lessee, or any of its agents, contractors, servants, employees or licensees, or
(iv) any accident, injury or damage whatever caused to any person, firm or
corporation in or about the Project and from and against all costs, reasonable
counsel fees, expenses and liabilities incurred in any action or proceeding
brought by reason of any claim referred to in this Section. In the event that
any action or proceeding is brought against Lessor or Purchaser by reason of any
such claims, Lessee, upon notice from Lessor or Purchaser, covenants to resist
or defend such action or proceeding at no cost to Lessor.

     9.2  Costs of Repossession.  Lessee covenants and agrees to pay, and to
          ---------------------
indemnify Lessor and the Purchaser against, all costs and charges, including
reasonable counsel fees, lawfully and reasonably incurred in obtaining
possession of the Project after default of Lessee or upon expiration or earlier
termination of any term hereof, or in enforcing any covenant or agreement of
Lessee contained in this Lease.

     9.3  Expenses Paid by Lessee.  The Lessee will pay or cause to be paid in
          -----------------------
full all reasonable out-of-pocket expenses of the Lessor and the Purchaser
incurred in connection with the execution and delivery of this Lease and the
Mortgage and the consummation of the transactions contemplated by such
documents, including but not limited to (i) the reasonable fees and
disbursements of the Lessor's counsel, Purchaser's counsel and bond counsel,
(ii) all taxes (other than income taxes) applicable to such transactions, (iii)
all present and future recording and filing fees and taxes, and (iv) all
expenses incident to the preparation of the Mortgage, the Bond and the Lease and
any waivers, amendments, modifications or enforcement of the terms or provisions
thereof, or consents thereunder.

                                      16
<PAGE>

     9.4   Survival.  Lessee's obligations under this Article IX shall survive
           --------
the termination or expiration of this Lease.

                                   ARTICLE X

                                   Insurance
                                   ---------

     10.1  Insurance in General.  Lessee shall, at its expense, keep the Project
           --------------------
continuously insured against such risks as are customarily insured against by
businesses of like size and type engaged in the same or similar operations
(other than business interruption insurance) including, without limiting the
generality of the foregoing, the insurance coverage required by Sections 10.2
and 10.3. Each insurance policy required under this Article X shall be provided
by Tennessee Insurance Company or by another insurer (or insurers) as shall be
financially responsible, qualified to do business in Tennessee, and of
recognized standing. Each policy of insurance obtained in satisfaction of this
Section 10.1 shall be in form and have such provisions (including without
limitation the loss payable clause, the deductible amount, if any, and the
standard, mortgagee endorsement clause) as are generally considered standard
provisions for the type of insurance involved and are acceptable in all respects
to the Purchaser.

     10.2  Fire and Extended Coverage.  Lessee shall, at its expense, cause the
           --------------------------
Building to be insured against loss or damage by fire, with uniform broad form
extended coverage endorsement covering loss or damage by lightning, windstorm,
explosion, aircraft, smoke damage, vehicle damage, sprinkler leakage, vandalism,
malicious mischief and such other hazards as are normally covered by such
endorsement in such amount that the proceeds of such insurance, in the event of
the total destruction of the Building, will at least be sufficient to retire the
Bond, or in the amount of 100% of the insurable value of the Building (if
insurance is obtainable to such an amount, and, if not, to such an amount as is
obtainable), whichever shall be less (with deductible provisions not to exceed
$500,000).  For purposes of this Lease, insurable value shall mean actual
replacement value.

     10.3  Public Liability.  Lessee shall, at its expense, cause to be
           ----------------
maintained general public liability insurance against claims for bodily injury,
death or property damage occurring on, in or about the Project, and the
adjoining sidewalks and passageways, such insurance to afford protection to
Lessor of not less than $2,000,000 per occurrence for third party  bodily injury
and property damage.  Policies for such insurance shall be for the mutual
benefit of Lessor and Lessee.

     10.4  Loss Payable.  All policies of insurance required by Section 10.2
           ------------
hereof shall name Lessor, Lessee and Purchaser as additional insureds as the
respective interest of each of such parties may appear, and shall provide that
the proceeds of such insurance shall be payable to the Lessor, Lessee and the
Purchaser, as their interests may appear,

                                      17
<PAGE>

under a standard mortgage loss payable clause; provided, however, that in the
absence of an Event of Default hereunder, payment shall be made by the insurance
company directly to any sublessee of Lessee by check payable solely to such
sublessee or order. All such proceeds shall be held and disbursed as provided
herein. All such policies shall, to the extent obtainable, provide that any loss
shall be so payable notwithstanding any act or negligence of Lessee or any
sublessee or assignee of Lessee which might otherwise result in a forfeiture of
said insurance.

     10.5  Evidence of Existence; Modification of Policies.  Certificates from
           -----------------------------------------------
the insurers evidencing the existence of all policies required under Sections
10.1 through 10.3 shall be filed with Lessor and the Purchaser, and such
policies of insurance shall contain an undertaking by the respective insurers
that such policies shall not be modified adversely to the interests of Lessor or
the Purchaser and that such policies shall not be cancelled without at least
thirty (30) days' prior written notice to Lessor and to the Purchaser.  Prior to
the expiration dates of the policies, originals of the renewal policies (or
certificates therefor from the insurers evidencing the existence thereof) shall
be deposited with Lessor and the Purchaser, or the Lessee shall provide Lessor
and the Purchaser with evidence satisfactory to Lessor and the Purchaser that
such policies or certificates are no longer required by the Lease.

     10.6  Adjustment of Claims.  Any claims under the policies of insurance
           --------------------
described in this Article shall be adjusted by the Lessee or its designee (at
Lessee's or such designee's expense), and the decision of the Lessee as to any
adjustment shall be final and conclusive; provided, that the proceeds from such
insurance shall be applied pursuant to the terms of this Lease.

     10.7  Blanket Policies.  Nothing in this Article shall prevent Lessee or
           ----------------
its designee from including the insurance required by Sections 10.1 through 10.3
within one or more blanket policies of insurance; provided, however, that in no
event shall the insurance coverage provided under any such blanket policy and
applicable to the Project be less than the amount and type of coverage otherwise
required to be provided by Lessee or its designee pursuant to the provisions of
this Article.

     10.8  Advances by Lessor or the Purchaser.  In the event that the Lessee
           -----------------------------------
shall fail to maintain or cause to be maintained, the full insurance coverage
required by this Lease or shall fail to keep the Project in good repair and good
operating condition, as required by Article XI of this Lease, the Lessor or the
Purchaser may (but shall be under no obligation to), after 10 days' written
notice to the Lessee, contract for the required policies of insurance and pay
the premiums on the same or make any required repairs, renewals and
replacements; and the Lessee agrees to reimburse the Lessor and the Purchaser to
the extent of the amount so advanced by them or any of them with interest
thereon at a rate per annum equal to the Prime Rate plus two percent (2%), or
the maximum rate permitted by applicable law, whichever is lower, from the date
of advance

                                      18
<PAGE>

to the date of reimbursement. Any amount so advanced by the Lessor or the
Purchaser shall become an additional obligation of the Lessee, shall be payable
upon demand and shall be deemed a part of the obligation of the Lessee evidenced
and secured by this Lease.

                                  ARTICLE XI

                            Maintenance and Repair
                            ----------------------

     11.1  Maintenance of Building.  Lessee, at its expense, will keep and
           -----------------------
maintain the Building in good repair and appearance, ordinary wear and tear
excepted.  Lessee shall promptly make, or cause to be made, all repairs,
interior and exterior, structural and nonstructural, ordinary and extraordinary,
foreseen and unforeseen, necessary to keep the Building in good and lawful order
and condition, wear and tear from reasonable use excepted, whether or not such
repairs are due to any law, rules, regulations or ordinances hereafter enacted
which involve a change of policy on the part of the governmental body enacting
the same, provided, however, that if the Bond has been paid in full, Lessee, in
lieu of making any structural or extraordinary repairs required during the Term,
may elect to terminate this Lease pursuant to Section 4.1(b), and in such event
Lessee shall have no further rights or obligations hereunder.

     11.2  Lessor Not Required to Repair.  Lessor shall not be required to make
           -----------------------------
any repairs, replacements or renewals of any nature or description to the
Project or to make any expenditures whatsoever in connection with this Lease or
to maintain the Project in any way. Lessee expressly waives the right contained
in any law now or hereafter in effect to make any repairs at the expense of
Lessor.

                                  ARTICLE XII

                                 Condemnation
                                 ------------

     12.1  Awards Assigned to Purchaser.  If, during the Term, all or any part
           ----------------------------
of the Project be taken by the exercise of the power of eminent domain or
condemnation, or sold under threat of condemnation, Lessee shall, subject to all
the terms of this Article, be entitled to, and shall receive, the entire award
for the taking. So long as the Bond has not been paid in full, Lessor hereby
irrevocably assigns all its right, title and interest in and to such award or
awards to the Purchaser, and Lessor and Lessee shall immediately pay the same to
the Purchaser and any such award or awards shall be held and disbursed as
provided herein.

                                      19
<PAGE>

     12.2  Condemnation of All or Material Part of Project.
           -----------------------------------------------

     (a)  If title to, or the temporary use or control of, all or substantially
all of the Project, shall be taken by the exercise of the power of eminent
domain or condemnation, or sold under the threat of condemnation, or if such use
or control of a substantial part of the Project shall be so taken or so sold as
results in rendering the Project unsatisfactory to Lessee for the purposes for
which the same was used immediately prior to such taking or condemnation (to be
determined in the sole judgment of Lessee), Lessee shall purchase for cash
Lessor's interest in the award or payment for such taking or sale and in the
remaining portion of the Project not taken or sold, if any, and such purchase
shall be made as of the first day of the first month occurring subsequent to
sixty (60) days after the effective date of such taking or sale.  The purchase
price for Lessor's interest in such award or payment for such taking or sale and
in the remaining portion of the Project not taken or sold, if any, shall be
determined as set forth in Section 21.1 hereof.  Lessee shall deliver to Lessor
and the Purchaser at least thirty (30) days before the date of purchase a
certificate, signed by an Authorized Lessee Representative, to the effect that
title to, or the temporary use or control of, all or substantially all of the
Project has been taken by the exercise of the power of eminent domain or
condemnation or sold under the threat of the exercise of such power.

     (b)  On the date of purchase the purchase price shall be paid as follows:

          (i)  an amount equal to the unpaid principal amount of the Bond and
     interest accrued thereon to the purchase date shall be paid to the
     Purchaser as the assignee of the Lessor to be applied to the payment of
     corresponding amounts of principal of and interest on the Bond; and

          (ii) the balance of the purchase price shall be paid to the Lessor.

     Upon payment of the purchase price in cash, Lessor shall convey Lessor's
interest in the remaining portion, if any, of the Project to Lessee, subject to
and pursuant to Article XXI, and the Purchaser shall assign and pay over the
entire amount of the Lessor's and the Lessee's interest in the award for the
taking or proceeds of the sale to the Lessee, less any expenses incurred by the
Lessor in collecting such award or proceeds (hereinafter called the "Net
Award").

     12.3  Condemnation of Less than Material Part of Project.
           --------------------------------------------------

     (a)  If a lesser portion of the Project be taken by exercise of the power
of eminent domain or condemnation or sold under the threat of condemnation, this
Lease shall nevertheless continue in full force and effect without abatement of
rent (except such rental reduction as results from a partial prepayment of the
Bond) and if such taking or sale shall have caused damage to, or necessitated
restoration or rebuilding of, any of the

                                      20
<PAGE>

improvements on the Land, Lessee, at its sole cost and expense, may at its
option restore such improvement to such condition as shall be reasonable in view
of the nature of the taking or the sale and the then intended use of the Project
by Lessee, whether or not the award for the taking or the proceeds from a sale
under threat of condemnation are sufficient for the purpose. Except as provided
in Section 12.3(b) hereof, if the Lessee shall not elect to so restore the
Project, the Lessee shall purchase for cash the remaining portion of the Project
and such purchase shall be made as of the first day of the first month occurring
subsequent to sixty (60) days after the effective date of such taking or sale.
The Lessee shall deliver to the Lessor and the Purchaser at least thirty (30)
days before such date a certificate signed by an Authorized Lessee
Representative to the effect that such lesser portion of the Project has been
taken or sold and stating whether or not the Lessee is exercising its option to
restore the Project. If the Lessee shall not elect to so restore the Project,
the Lessee, the Lessor and the Purchaser shall proceed as provided in Section
12.2(b). If the Lessee shall elect to restore the Project, the Lessee shall
promptly begin and diligently proceed with such restoration.

     (b)  So long as the Bond has not been paid in full, upon the filing by the
Lessee with the Lessor and the Purchaser of a certificate stating that the
restoration and rebuilding required by this Section 12.3 has been completed and
the costs thereof or stating that such restoration or rebuilding is not
required, as the case may be, the Purchaser shall assign and pay over to the
Lessee the cost of such restoration and rebuilding, if any, as if so certified
up to the full amount of the Net Award; provided, however, that the Purchaser
shall be authorized to make progress payments to the Lessee from time to time
upon certification by the Lessee that it is proceeding to so rebuild, restore,
replace or repair and that the amount requested does not exceed the amount
expended to date for such purpose.  If there shall remain any balance of the
proceeds of such taking or sale under threat of condemnation, the Purchaser
shall apply the balance to the prepayment of principal installments of the Bond
in the inverse order of maturity.  In the event the Bond has been paid in full,
the Purchaser shall assign and pay over to the Lessee any such balance.  In lieu
of such rebuilding or restoring as herein provided, the Lessee may direct that
the entire amount of the Net Award be applied by the Purchaser to the prepayment
of principal installments of the Bond in the inverse order of maturity.

     If any taking or sale of the character referred to in this Section shall
occur when no part of the Bond is unpaid, or if the amount of the proceeds of
such taking or sale under threat of condemnation, together with other sums
available for such purpose, is sufficient to pay in full all amounts owed on the
Bond, Lessee, in lieu of restoring as herein provided, may elect to terminate
this Lease, and in such event this Lease shall terminate, neither party shall
have any further liability hereunder, and all such proceeds shall be retained by
Lessee; subject, however, to the payment to the Purchaser of such part thereof
as shall be required in order to pay in full the remaining unpaid amounts on the
Bond.

                                      21
<PAGE>

     12.4  Notice of Condemnation.  In the case of any taking or proposed taking
           ----------------------
of all or any part of the Project, the Lessee shall, upon receipt of notice of
such taking or proposed taking, give prompt notice to the Lessor and the
Purchaser. Each such notice shall describe generally the nature and extent of
such taking, loss, proceeding or negotiations.

                                 ARTICLE XIII

                                   Casualty
                                   --------

     13.1  Lessee to Rebuild or Repair.
           ---------------------------

     (a)  If during the Term all or any part of the Project shall be destroyed
or damaged, the Lessee shall promptly notify the Lessor and the Purchaser, and
at the Lessee's sole cost and expense (whether or not the insurance proceeds
hereinafter mentioned are sufficient for the purpose) the Lessee may at its
option rebuild, restore, replace and repair the same to such condition as shall
be reasonable in view of the nature of the casualty and the then intended use of
the Project by Lessee.  Except as provided in Section 13.1(b) hereof, if the
Lessee shall not elect to so restore the Project, the Lessee shall purchase for
cash the remaining portion of the Project, and such purchase shall be made as of
the first day of the first month occurring subsequent to sixty (60) days after
the effective date of such casualty.  The Lessee shall deliver to the Lessor and
the Purchaser at least thirty (30) days before such date a certificate signed by
an Authorized Lessee Representative to the effect that such damage or
destruction has occurred and stating whether or not the Lessee is exercising its
option to restore the Project.  If the Lessee shall not elect to so restore the
Project, the Purchaser shall proceed to purchase the remaining portion of the
Project on the terms set forth in Section 12.2(b).  If the Lessee shall elect to
restore the Project, the Lessee shall promptly begin and diligently proceed with
such restoration.

     (b)  So long as the Bond has not been paid in full, the Lessee shall file
with the Lessor and the Purchaser a certificate stating that such rebuilding,
restoration, replacement and repair has been completed and certifying the cost
thereof.  If there shall remain any balance of such insurance proceeds, the
Lessee shall apply the balance to the prepayment of the Bond.  In lieu of
rebuilding, restoration, replacement and repair as herein provided, Lessee may
apply the entire amount to the purchase of the Project on the terms set forth in
Section 12.2(b).

     Notwithstanding any other provision hereof, if all or any part of the
Project shall be destroyed or damaged after the Bond has been paid in full, (i)
Lessee shall have no obligation to effect the repair or restoration of the
Project and (ii) Lessee may elect by written notice to Lessor to terminate this
Lease, in which event Lessee shall have no further liability hereunder.

                                      22
<PAGE>

     13.2  Notice of Casualty.  In the case of any material damage to or
           ------------------
destruction of all or any part of the Project, the Lessee shall, upon receipt of
notice of such damage or destruction, give prompt notice thereof to the Lessor
and the Purchaser.  Each such notice shall describe generally the nature and
extent of such damage, destruction, loss, proceeding or negotiations.

                                  ARTICLE XIV

                     Additions, Alterations, Improvements,
                     -------------------------------------
                       Replacements and New Construction
                       ---------------------------------

     14.1  Additions, Alterations and Improvements by Lessee.  Provided that the
           -------------------------------------------------
Project will continue to constitute a "project" under the Act, Lessee shall have
the right to make additions to, alterations of, and improvements on the
Building, structural or otherwise, and to construct additional facilities, at
its expense.

     Lessee shall have the privilege of erecting any additional buildings and of
remodeling the Building from time to time as it in its discretion may determine
to be desirable for its uses and purposes, provided that such remodeling shall
not damage the basic structure of the then existing building or decrease its
value, with no obligation to restore or return the Building to its original
condition, but the cost of such new building or buildings and improvements and
remodeling shall be paid for by it and upon the expiration or termination of
this Lease shall belong to and be the property of Lessor, subject, however, to
the right of Lessee to remove from the Project at any time before the expiration
or termination of this Lease and while it is in good standing with reference to
the payment of Basic Rent and performance of its other obligations under this
Lease, all improvements placed in or upon the Project by Lessee which can be
removed without damage to the existing buildings or structures or if they cannot
be removed without such damage, then provided that Lessee repairs any damage
caused by such removal.

     14.2  Installation and Removal of Lessee's Equipment.  Lessee may at any
           ----------------------------------------------
time or times during the Term install or commence the installation of any
Lessee's equipment as Lessee may deem desirable, and Lessee may also remove any
Lessee's equipment, provided, however, that such installation or removal shall
not be permitted to interfere with the acquisition and installation of the
Project or in any way materially damage the Project.  All such Lessee's
equipment shall be acquired and installed at the expense of Lessee and shall
remain the property of Lessee.  Any item of Lessee's equipment may be removed at
any time by the Lessee and shall, upon the occurrence of an Event of Default, be
removed by the Lessee at the request of the Lessor.  Any such removal shall be
at the expense of the Lessee and the Lessee shall bear the costs of repair of
all damage to the Project resulting from or incident to such removal.

                                      23
<PAGE>

     14.3  Additions and Alterations Not to Diminish Value of Project.  The
           ----------------------------------------------------------
Project as improved or altered upon completion of additions, alterations,
improvements or construction made pursuant to the provisions of this Article XIV
shall be of a value of not less than the value of the Project immediately prior
to the making of such additions, alterations, improvements or the construction
of additional facilities.

     14.4  Quality of Work; Compliance With Laws; Insurance.  Lessee shall use
           ------------------------------------------------
its best efforts to cause all work done in connection with such additions,
alterations, improvements or construction, or repair or restoration in the event
of condemnation, damage or destruction to be done promptly, and in good and
workmanlike manner, and in compliance with all laws, ordinances, orders, rules,
regulations and requirements of all federal, state and municipal governments and
the appropriate departments, commissions, boards and offices thereof.  Lessee
shall maintain or cause to be maintained, at all times when any work is in
process in connection with such additions, alterations, improvements or
construction, worker's compensation insurance covering all persons employed in
connection with such work and with respect to whom death or bodily injury claims
could be asserted against Lessor, Lessee or the Project.

                                  ARTICLE XV

                    Subletting, Assignments and Mortgaging
                    --------------------------------------

     15.1  Continuing Obligations of Lessee.  With the prior written consent
           --------------------------------
of Lessor and Purchaser, Lessee may sublet the Project or any part thereof, and
may assign or otherwise transfer all of its rights and interest hereunder,
including the purchase option granted in Section 21.1 hereof; provided, however,
(a) that no assignment, transfer or sublease shall affect or reduce any of the
obligations of Lessee hereunder, except to the extent that the Purchaser and
Lessor each specifically agree in writing otherwise, and (b) that Lessee shall
give Lessor and the Purchaser not less than 10 days' prior written notice of any
such proposed assignment, transfer or sublease; provided, however, that no
consent of the Purchaser nor notice to Lessor and Purchaser shall be required in
order for the Lessee to execute and deliver the Sublease.  Nothwithstanding the
foregoing, Lessee may assign or otherwise transfer all of its rights and
interest hereunder without the prior written consent of the Lessor so long as
the Lessor receives, prior to the effective date of such transfer or assignment
(i) an opinion of counsel to such assignee that such assignment or transfer is
an exempt transaction under any securities laws or otherwise does not require
registration under any applicable securities laws; (ii) a certificate of Lessee
that at the time of such assignment or transfer there is  no default or event of
default existing under the Sublease and that the assignee is a commercial
lending institution or an insurance company or an affiliate of or trust for the
benefit of such commercial lending institution or insurance company or affiliate
thereof.

                                      24
<PAGE>

     15.2  Collection of Rent from Others No Release of Lessee.  If this Lease
           ---------------------------------------------------
be assigned or transferred, or if the Project or any part thereof be sublet or
occupied by anybody other than Lessee, Lessor may, after default by Lessee,
collect rent from the assignee, transferee, subtenant, or similar occupant and
apply the net amount collected to the Basic Rent and any other amounts reserved
hereunder, but no such assignment, transfer, subletting, possession or
collection shall, except to the extent that the Lessor and the Purchaser
specifically agree otherwise, be deemed the acceptance of the assignee,
transferee, subtenant or similar possessor as lessee, or a waiver or release of
Lessee from the performance of the terms, covenants and conditions of this Lease
to be performed by Lessee.  Any violation of any provision of this Lease,
whether by act or omission, by an assignee, transferee, subtenant, or similar
occupant, shall be deemed a violation of such provision by Lessee, it being the
intention of the parties hereto that Lessee shall, except to the extent that the
Lessor and the Purchaser specifically agree otherwise, assume and be liable to
Lessor for all and any acts and omissions of any and all assignees, transferees,
subtenants and similar occupants.

     15.3  Merger, Consolidation or Transfer of Assets by Lessee.  Lessee agrees
           -----------------------------------------------------
that at all times during the Term it will maintain its corporate existence as a
corporation qualified and authorized to do business in the State of Tennessee,
will not dissolve nor dispose of all or substantially all of its assets nor
consolidate with nor merge into another corporation nor permit another
corporation to consolidate with or merge into it, except with the prior written
consent of Lessor and Purchaser.

                                  ARTICLE XVI

                      Performance of Lessee's Obligations
                      -----------------------------------
                         by Lessor; Permitted Contests
                         -----------------------------

     16.1  Performance of Lessee's Obligations by Lessor.  If Lessee at any time
           ---------------------------------------------
shall fail to make any payment or perform any act on its part to be made or
performed under this Lease, then, subject to the provisions of Sections 15.2 and
16.2, Lessor may (but shall not be obligated to), upon ten (10) days' prior
written notice to Lessee and without waiving or releasing Lessee from any
obligations or default of Lessee hereunder, make any such payment or perform any
such act for the account and at the expense of Lessee; and may enter upon the
Project for the purpose and take all such action thereon as may be reasonably
necessary therefor.  No such entry shall be deemed an eviction of Lessee.  All
sums so paid by Lessor and all necessary and incidental costs and expenses
(including, without limitation, reasonable attorneys' fees and expenses)
incurred in connection with the performance of any such act by Lessor, together
with interest, at the lesser of (i) the overdue rate provided in the Sublease so
long as a Sublease is in effect or the Prime Rate plus two percent (2%) per
annum if a Sublease is not in effect or (ii) the maximum rate permitted by
applicable law, shall be deemed additional rent hereunder and shall be

                                      25
<PAGE>

payable by Lessee to Lessor on demand, and Lessee covenants to pay any such sum
or sums with interest as aforesaid.

     16.2  Permitted Contests.  Lessee shall not be required to (a) pay,
           ------------------
discharge or remove any tax, lien or assessment, or any mechanic's, laborer's or
materialman's lien, or any other lien or encumbrance, or any other imposition or
charge against the Project or any part thereof, or (b) comply or cause
compliance with the laws, ordinances, orders, rules, regulations or requirements
referred to in Sections 3.10 or 14.4 hereof, so long as Lessee shall, at
Lessee's expense, contest the same or the validity thereof in good faith, by
appropriate proceedings which shall operate to prevent the collection of the
tax, lien, assessment, encumbrance, imposition, charge, fine or penalty so
contested or resulting from such contest and the sale of the Project or any part
thereof to satisfy the same.  Such contest may be made by Lessee in the name of
Lessor or of Lessee, or both, as Lessee shall determine, and Lessor agrees that
it will, at Lessee's expense, cooperate with Lessee in any such contest to such
extent as Lessee may reasonably request.  It is understood, however, that Lessor
shall not be subject to any liability for the payment of any costs or expenses
in connection with any such proceeding brought by Lessee, and Lessee covenants
to pay, and to indemnify and save harmless Lessor from, any such costs or
expenses.  Pending any such proceeding Lessor shall not have the right to pay,
remove or cause to be discharged the tax, lien, assessment, encumbrance,
imposition or charge thereby being contested, provided, that Lessee shall have
given such security as Purchaser and Lessor may require.

                                 ARTICLE XVII

                        Events of Default; Termination
                        ------------------------------

     17.1  Events of Default.  If any one or more of the following events
(herein individually called an "Event of Default") shall happen:

          (a)  if Lessee shall fail to make payment of (i) any Basic Rent within
     five (5)  days after the same has become due and payable or (ii) any amount
     due under Article IX, Sections 12.02 or 13.01 hereof, after the same has
     become due and payable;

          (b)  if default shall be made in the due and punctual payment of any
     additional rent or other amount payable to Lessor or for the benefit of
     Lessor hereunder (other than as referred to in clause (a) above) within
     five (5) days after the same has become due and payable;

          (c)  if Lessee shall fail to observe or perform any term, covenant or
     condition of the Lessee under this Lease, or any representation or warranty
     set

                                      26
<PAGE>

     forth in this Lease or in any document entered into in connection herewith
     or in any document, certificate or financial or other statement delivered
     in connection herewith shall be false or inaccurate in any material way,
     and such failure or misrepresentation or breach of warranty shall remain
     uncured for a period of thirty (30) days after receipt of written notice
     thereof; provided, that if such failure to perform is not capable of being
     cured within one hundred eighty (180) days after the occurrence of such
     default and the Lessee is proceeding diligently to cure such default, the
     Lessee shall be entitled to an additional period (not to exceed one hundred
     eighty (180) days from the date of such default) to cure such default;

          (d)  if Lessee shall file a voluntary petition in bankruptcy, or shall
     be adjudicated a bankrupt or insolvent, or shall file any petition or
     answer seeking any reorganization, composition, readjustment, liquidation
     or similar relief for itself under any present or future statute, law or
     regulations, or shall seek or consent to or acquiesce in the appointment of
     any trustee, receiver, custodian or liquidator of Lessee or of all or any
     substantial part of its properties or of the Project, or shall make any
     general assignment for the benefit of creditors, or shall admit in writing
     its inability to pay its debts generally as they become due; or

          (e)  if a petition shall be filed against Lessee seeking any
     reorganization, composition, readjustment, liquidation or similar relief
     under any present or future statute, law or regulation, and shall remain
     undismissed or unstayed for an aggregate of sixty (60) days, or if any
     trustee, receiver, custodian or liquidator of Lessee or of all or any
     substantial part of its properties or of the Project shall be appointed
     without the consent or acquiescence of Lessee and such appointment shall
     remain unvacated or unstayed for an aggregate of sixty (60) days (whether
     or not consecutive); or

          (f)  if a default or an event of default shall occur under any of the
     other Bond Documents;

then in any such event (regardless of the pendency of any proceeding which has
or might have the effect of preventing Lessee from complying with the terms of
this Lease) Purchaser, as assignee of Lessor, or Lessor if the Bond has been
paid in full, at any time thereafter and until such Event of Default shall have
been waived may give a written termination notice to Lessee which shall specify
a date of termination of this Lease not less than ten (10) days after the giving
of such termination notice, and, subject to the provisions of Section 20.1
relating to the survival of Lessee's obligations, the Term shall expire and
terminate by limitation and all rights of Lessee under this Lease shall cease on
such date, except with respect to Lessee's option to purchase pursuant to
Section 21.1 hereof.

                                      27
<PAGE>

                                 ARTICLE XVIII

                                 Repossession
                                 ------------

     18.1 At any time after the expiration of the Term pursuant to Section
17.1, Purchaser, as assignee of Lessor, or Lessor, without further notice may
enter upon the Project and may remove Lessee and all other persons and any and
all property from the Project.  If any Event of Default occurs, Purchaser, as
assignee of Lessor, or Lessor if the Bond has been paid in full, shall also have
the right of entry repossession, and removal, after not less than ten (10) days'
prior written notice to Lessee of its intent to exercise such right and
specifying the nature of the Event of Default, prior to the expiration of the
Term and without any obligation on the part of Purchaser or Lessor to terminate
this Lease, provided that such right shall not be in contravention of the laws
of the jurisdiction in which the Project is located.  In the event of the
exercise of such right without termination of this Lease, the Lease shall
continue in full force and affect for the balance of the Term except that Lessee
shall have no right of possession from the date of the exercise of such right,
provided that the exercise of such right shall not preclude the subsequent
exercise of any other right under this Lease, including the right of termination
pursuant to Section 17.1.  Neither Purchaser nor Lessor shall be under any
liability for or by reason of any such entry, repossession or removal.

                                 ARTICLE XIX

                                 Reletting
                                 ---------

     19.1 If the Term shall have expired pursuant to Section 17.1, or if
Purchaser or Lessor shall have exercised its right of entry, repossession and
removal pursuant to Section 18.1, Lessor may relet the Project or any part
thereof for the account and benefit of Lessee for such rental terms, to such
persons, firms or corporations and for such period or periods as may be fixed
and determined by Lessor; provided, however, that Lessor shall not unreasonably
refuse to accept or receive any suitable occupant or tenant offered by Lessee,
so long as such tenant proposes to use the Project as a "project" under the Act.
Lessor shall not otherwise be required to do any act or exercise any diligence
to mitigate the damages to Lessee and, subject to the foregoing provisions,
Lessor shall not be responsible or liable for any failure to relet the Project
or any portion thereof.

                                 ARTICLE XX

                   Survival of Lessee's Obligations; Damages
                   -----------------------------------------

     20.1 Lessee's Obligations to Survive Expiration or Repossession. No
          ----------------------------------------------------------
expiration of the Term pursuant to Section 17.1 or repossession of the Project
pursuant to Section 18.1 shall relieve Lessee of its liability and obligations
under this Lease, including its

                                      28
<PAGE>

obligations under Article IX, all of which shall survive any such expiration or
repossession.

     20.2 Amounts Payable by Lessee on Expiration by Default.  In the event
          --------------------------------------------------
of the expiration of the Term pursuant to Section 17.1, Lessee shall pay to
Lessor the Basic Rent and all additional rent and other charges required to be
paid, and not theretofore paid, under this Lease or otherwise, by Lessee up to
the time of such expiration; and thereafter Lessee, until the end of what would
have been the Term in the absence of such expiration and whether or not the
Project or any part thereof shall have been relet, shall be liable for and shall
pay to Lessor, as and for liquidated and agreed current damages for Lessee's
default:

          (i)  the Basic Rent and all additional rent and other charges which
     would be payable under this Lease by Lessee if the Term had not so expired,
     less

          (ii) the net proceeds, if any, of any reletting effected for the
     account of Lessee pursuant to the provisions of Section 19.1, after
     deducting all Lessor's necessary and incidental expenses in connection with
     such reletting, including, without limitation, all repossession costs,
     brokerage commissions, legal expenses, reasonable attorneys' fees and
     expenses, employees' expenses, reasonable alteration costs, insurance
     premiums paid to insure the Project until it is relet and any taxes,
     special assessments or other similar governmental charges for such period
     and expenses of preparation for such reletting.

Lessee shall pay such current damages on the days on which the Basic Rent would
have been payable under this Lease if the Term hereof had not so expired, and
Lessor shall be entitled to recover the same from Lessee on each such day.

     The liability and obligations of Lessee as set forth in this Section 20.2
shall be the same if Lessor shall exercise its right of entry, repossession or
removal without termination of this Lease as provided in Section 18.1.

     20.3 Optional Recovery by Lessor on Expiration by Default.  At any
          ----------------------------------------------------
time after the expiration of the Term pursuant to Section 17.1, whether or not
Lessor shall have collected any current damages as aforesaid, Lessor shall, at
its option, be entitled to recover from Lessee, and Lessee will pay to Lessor on
demand, as and for liquidated and agreed final damages for Lessee's default and
in lieu of all current damages beyond the date of such demand, an amount equal
to the greater of:

          (i)  The Basic Rent and additional rent and other charges which would
     be payable under this Lease from the date of such demand (or, if it be
     earlier, the date to which Lessee shall have satisfied in full its
     obligations under Section 20.2 to pay current damages) for which would be
     the then unexpired Term if the same

                                      29
<PAGE>

     had not been so expired, less the then fair net rental value of the Project
     for the same period, or

          (ii) All Unpaid Installments of Rent if the Bond has not been paid in
     full.

     20.4 Rights and Obligations on Default Unchanged by Non-Termination.
          --------------------------------------------------------------
The right of recovery of Lessor and the obligation of Lessee to pay the amount
set  forth in Section 20.3 shall be the same if Lessor shall exercise its right
of entry, repossession or removal without termination of this Lease as provided
in Section 18.1.

     20.5 Law Affecting Liquidated Damages.  If any statute or rule of law
          --------------------------------
shall validly limit the amount of such liquidated final damages to less than the
amount agreed upon in Section 20.3, Lessor shall be entitled to the maximum
amount allowable under such statute or rule of law.

                                 ARTICLE XXI

                         Purchase and Purchase Prices
                         ----------------------------

     21.1 Option to Purchase.  At any time during the Term or within ninety
          ------------------
(90) days after the end of the Term, Lessee shall have an option to purchase the
Project for an amount equal to All Unpaid Installments plus the sum of $100.00.
Lessee shall deliver to Lessor and Purchaser at least fifteen (15) days before
the proposed date of purchase a notice signed by an Authorized Lessee
Representative stating that Lessee desires to exercise its option to purchase
under the provisions of this Section 21.1 on the date specified in such notice.
On the proposed date of purchase the purchase price shall become due and payable
and upon payment of the purchase price, in cash, Lessor shall convey the Project
to Lessee subject and pursuant to this Article.  Upon Lessee's exercise of the
option to purchase pursuant to this Section, the Term of this Lease shall
terminate.  The purchase price shall be paid as follows:

          (i)  an amount equal to the unpaid principal amount of the Bond and
     interest accrued thereon to the purchase date shall be paid to the
     Purchaser as the assignee of the Lessor to be applied to the payment of
     corresponding amounts of principal of and interest on the Bond; and

          (ii) the balance of the purchase price shall be paid to the Lessor.

     21.2 Granting of Easements.  From time to time during the Term Lessee shall
          ---------------------
have the right to cause Lessor (i) to grant easements affecting the Project,
(ii) to dedicate or convey, as required, portions of the Project for road,
highway and utilities and other public purposes, and (iii) to execute petitions
to have the Project or portions thereof annexed to any municipality or included
within any utility, highway or other

                                      30
<PAGE>

improvement or service district provided that, prior to the exercise of any of
the powers granted by this Section 21.2, (a) Lessee shall have obtained the
written consent of Purchaser to the granting of such easement; (b) Lessee shall
notify Lessor in writing of the action to be taken; and (c) Lessee shall furnish
Lessor with a certificate signed by an officer of Lessee certifying that the
action to be taken will not either adversely affect the market value of the
Project or the use of the Project in Lessee's business. Upon compliance with the
provisions hereof, Lessor shall, to the extent necessary, execute and deliver
all such documents as are necessary to effectuate the intent of this Section
21.2.

     21.3 Conveyance on Purchase.  In the event of any purchase of Lessor's
          ---------------------
interest in the Project or the remaining portion or remainder of the Project by
Lessee pursuant to any provision of this Lease, Lessor shall convey merchantable
title by quitclaim deed thereto to Lessee, but Lessor shall not otherwise be
obligated to give or assign any better title to Lessee than existed on the first
day of the Term.  Lessee shall accept such title, subject, however, to (i) any
liens, encumbrances, charges, exceptions and restrictions not created or caused
by Lessor or caused by Lessor at the request of lessee and/or Sublessee, and
(ii) any laws, regulations and ordinances.  Although Lessor shall be obligated
to convey title to the Project as aforesaid on the date of purchase upon receipt
of the purchase price therefor, Lessor shall nevertheless have such additional
time as is reasonably required by Lessor to deliver or cause to be delivered to
Lessee, at Lessee's expense, all instruments and documents reasonably required
by Lessee and necessary to remove from record or otherwise discharge any liens,
encumbrances, charges or restrictions in order that Lessor may convey title as
aforesaid.

     21.4 Charges Incident to Conveyance.  Lessee shall pay all charges incident
          --------------------------------
to any conveyance, including any escrow fees, recording fees, title insurance
premiums, Lessor's reasonable attorney's fees and any applicable federal, state
or local taxes and the like, including any federal or local documentary or
transfer taxes.

     21.5 Time of Payment of Purchase Price.  Notwithstanding any other
          ---------------------------------
provisions hereof, this Lease shall not terminate on the date on which Lessee
shall be obligated to purchase (whether or not any delay in the completion of
such purchase shall be the fault of Lessor), nor shall Lessee's obligations
hereunder cease until Lessee shall have paid the purchase price then payable for
the Project, without set-off, counterclaim, abatement, suspension, deduction,
diminution, or defense for any reason whatsoever, so long as the Bond has not
been paid in full, and until Lessee shall have discharged or made provision
satisfactory to Lessor for the discharge of, all of its obligations under this
Lease, which obligations have arisen on or before the date for the purchase of
the Project, including the obligation to pay the Basic Rent due and payable on
the date for the purchase of Lessor's interest in the Project, but exclusive of
any obligations with respect to maintenance, repair or restoration.

                                      31
<PAGE>

                                 ARTICLE XXII

                    Recording and Filing; Other Instruments
                    ---------------------------------------

     22.1 Recording.  This Lease and every supplement and modification
          ---------
hereof shall be recorded in the Register's Office of Shelby County, Tennessee,
or in such other office as may be at the time provided by law as the proper
place for the recordation of a deed conveying the Land.

                                 ARTICLE XXIII

                                 Miscellaneous
                                 -------------

     23.1 Waiver of Statutory Rights.  This Lease shall not be affected by any
          --------------------------
laws, ordinances, or regulations, whether federal, state, county, city,
municipal or otherwise, which may be enacted or become effective from and after
the date of this Lease affecting or regulating or attempting to affect or
regulate (i) the Basic Rent and other amounts herein reserved or (ii) the
continuing in occupancy of Lessee or any sublessees, transferees or assignees of
Lessee's interest in the Project beyond the dates of termination of their
respective leases, or otherwise.

     23.2 Non-Waiver by Lessor.  No failure by Lessor or by any assignee to
          --------------------
insist upon the strict performance of any term hereof or to exercise any right,
power or remedy consequent upon a breach thereof, and no acceptance of the Basic
Rent, in full or in part, during the continuance of such breach, shall
constitute a waiver of such breach or of such term. No waiver of any breach
shall affect or alter this Lease or constitute a waiver of a then existing or
subsequent breach.

     23.3 Remedies Cumulative. Each right, power and remedy of Lessor provided
          -------------------
for in this Lease shall be cumulative and concurrent and shall be in addition to
every other right, power or remedy provided for in this Lease or now or
hereafter existing at law or in equity or by statute or otherwise, in any
jurisdiction where such rights, powers and remedies are sought to be enforced,
and the exercise or beginning of the exercise by Lessor of any one or more of
the rights, powers or remedies provided for in this Lease or now or hereafter
existing at law or in equity or by statute or otherwise shall not preclude the
simultaneous or later exercise by Lessor of any or all such other rights, powers
or remedies.

     23.4 Surrender of the Project.  Except as otherwise provided in this Lease,
          ------------------------
Lessee shall, upon the expiration or termination of this Lease for any reason
whatsoever, surrender the Project to Lessor in good order, condition and repair,
except for reasonable wear and tear.

                                      32
<PAGE>

     23.5   Acceptance of Surrender.  No surrender to Lessor of this Lease or of
            -----------------------
the Project or any part thereof or of any interest therein shall be valid or
effective unless agreed to and accepted in writing by Lessor, and no act by any
representative or agent of Lessor, and no act by Lessor, other than such a
written agreement and acceptance by Lessor, together with the concurring written
consent of the Purchaser if the Bond has not been paid in full, shall constitute
an acceptance of any such surrender.

     23.6   No Claims Against Lessor.  Nothing contained in this Lease shall
            ------------------------
constitute any consent or request by Lessor, expressed or implied, for the
performance of any labor or services or the furnishing of any materials or other
property in respect of the Project or any part thereof, nor give Lessee any
right, power or authority to contract for or permit the performance of any labor
or services or the furnishings of any materials or other property in such
fashion as would permit the making of any claim against Lessor.  Lessor shall
have the right to post and keep posted at all reasonable times on the Project
any notices which Lessor shall be required to post for the protection of Lessor
and the Project from the perfecting of any lien.

     23.7   Amendments, Changes and Modification.  Except as otherwise provided
            ------------------------------------
provided in this Lease, subsequent to the sale of the Bond, this Lease may not
be effectively amended, changed, modified, altered or terminated without the
concurring written consent of the Purchaser.

     23.8   Applicable Law. This Lease shall be governed exclusively by the
            --------------
provisions hereof and by the applicable laws of the State of Tennessee.

     23.9   Severability.  In the event that any clause or provision of this
            ------------
Lease shall be held to be invalid by any court of competent jurisdiction, the
invalidity of such clause or provision shall not affect any of the remaining
provisions hereof.

     23.10  Notices and Demands.  All notices, certificates, demands, requests,
            -------------------
consents, approvals and other similar instruments under the Bond Documents,
shall be in writing, and shall be deemed to have been properly given and
received if sent by United States certified or registered mail, postage prepaid,
when delivered at the address specified (a) if to Lessee addressed to Lessee, at
135 So. LaSalle Street, Suite 711, Chicago, Illinois 60603, Attention: E. Bruce
Mumford, or at such other address as Lessee from time to time may have
designated by written notice to Lessor and the Purchaser; (b) if to Lessor
addressed to Lessor at 7743 Church Street, Millington, Tennessee 38054,
Attention: Frank Ryburn, or at such other address as Lessor may have designated
from time to time by written notice to Lessee and the Purchaser; and (c) if to
Purchaser addressed to Purchaser, at 135 So. LaSalle Street, Suite 711, Chicago,
Illinois 60603, Attention: E. Bruce Mumford, or at such other address as
Purchaser may have designated, from time to time, by written notice to Lessor
and Lessee.

                                      33
<PAGE>

     23.11  Headings and References.  The headings in this Lease are for
            -----------------------
convenience of reference only and shall not define or limit the provisions
thereof.  All references in this Lease to particular Articles or Sections are
references to Articles or Sections of this Lease, unless otherwise indicated.

     23.12  Successors and Assigns.  The terms and provisions of this Lease
            ----------------------
shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns.

     23.13  Multiple Counterparts.  This Lease may be executed in multiple
            ---------------------
counterparts, each of which shall be an original but all of which together shall
constitute but one and the same instrument.

     23.14  Quiet Possession.  Lessee, by keeping and performing the
            ----------------
covenants and agreements on its part herein contained, shall at all times during
the Term peaceably and quietly have, hold and enjoy the Project without suit,
trouble or hindrance from Lessor or its successors or assigns.

     23.15  Amendments, Changes and Modifications of Bond.  Lessor covenants
            ---------------------------------------------
and agrees during the Term that it will not, without the prior written consent
of Lessee, enter into or consent to any amendment, change or modification of the
Bond or the Mortgage which would adversely affect Lessee's rights under this
Lease.

     23.16  No Liability of Officers, Etc.  No recourse under or upon any
            -----------------------------
obligation, covenant or agreement contained in this Lease shall be had against
any incorporator, employee, member, director or officer, as such, past, present
or future, of the Lessor, either directly or through the Lessor.  Any and all
personal liability of every nature, whether at common law or in equity, or by
statute or by constitution or otherwise, of any such incorporator, employee,
member, director or officer is hereby expressly waived and released by Lessee as
a condition of and consideration for the execution of this Lease.

     23.17  Limitations on Recourse.  The parties hereto agree that the
            -----------------------
Lessee shall have no personal liability whatsoever to the Lessor or its
respective successors and assigns for any claim based on or in respect of this
Lease or arising in any way from the transactions contemplated hereby; provided,
however, that the Lessee shall be liable in its individual capacity for its own
willful misconduct or gross negligence (or negligence in the handling of funds).
It is understood and agreed that, except as provided in the preceding proviso:
(i) the Lessee shall have no personal liability under the Lease; (ii) all
obligations of the Lessee to the Lessor are solely nonrecourse obligations
except to the extent that it has received payment from others and are
enforceable solely against the Lessee's interest in the Project and the Bond;
and (iii) all such personal liability of the Lessee is expressly waived and
released as a condition of, and as consideration for, the executive and delivery
of the Lease by the Lessee.

                                      34
<PAGE>

     23.18  Respecting the Sublease.  Certain of the covenants of the Lessee
            -----------------------
hereunder will be assumed by the Sublessee in the Sublease and, while the
Sublease remains in full force and effect, the obligations contained in such
covenants shall be the responsibility of the Sublessee, or if the Sublease is
terminated, then such covenants are enforceable only to the extent of the
revenues derived from the Leased Property.

     23.19  No Usury.  No provision in this Lease shall require the payment
            --------
or permit the collection of interest in excess of the maximum permitted by law.
If any excessive interest in such respect is hereby provided for, or shall be
adjudicated to be so provided for herein, the provisions of this paragraph shall
govern, and the undersigned shall not be obligated to pay the amount of such
interest to the extent that it is in excess of the amount permitted by law.  In
the event Lessor or the Purchaser shall collect monies hereunder or otherwise
which are deemed to constitute interest which would increase any effective
interest rate to a rate in excess of that permitted to be charged by applicable
law, all such sums deemed to constitute interest in excess of the legal rate
shall be immediately returned to the payor thereof upon such determination.

     23.20  No Liability of the City of Millington or Shelby County, Tennessee.
            ------------------------------------------------------------------
The City of Millington and Shelby County, Tennessee shall not in any event be
liable for the performance or payment of any pledge, mortgage, obligation,
indebtedness, agreement of any kind whatsoever herein or in any agreement or
instrument mentioned herein, and none of the agreements or obligations of the
Lessor contained in this Lease or in any agreement or instrument mentioned
herein or otherwise shall be construed to constitute

                                      35
<PAGE>

an obligation or indebtedness of The City of Millington or Shelby County,
Tennessee within the meaning of any constitutional or statutory provision
whatsoever.

     IN WITNESS WHEREOF, THE INDUSTRIAL DEVELOPMENT BOARD OF THE CITY OF
MILLINGTON, TENNESSEE has executed this Lease by causing its name to be hereunto
subscribed and attested by its duly authorized officers; and LEASE PLAN NORTH
AMERICA, INC. has executed this Lease by causing its name to be hereunto
subscribed by its duly authorized officer, all being done as of the day and year
first above written, but actually on the dates hereinafter indicated in the
acknowledgements.

ATTEST:                       THE INDUSTRIAL DEVELOPMENT BOARD OF THE CITY OF
                              MILLINGTON, TENNESSEE

/s/ [ILLEGIBLE]               By: /s/ Tom Seale, Jr.
-------------------------        -------------------------
Title: Secretary              Title: Chairman
      -------------------           ----------------------

                              LEASE PLAN NORTH AMERICA, INC.

                              By: /s/ E. Bruce Mumford
                                 -------------------------
                              Title: Vice President
                                    ----------------------

                                      36
<PAGE>

STATE OF Illinois )

COUNTY OF Cook    )

  Before me, the undersigned authority, a Notary Public within and for the State
and County aforesaid, personally appeared E. Bruce Mumford, with whom I am
personally acquainted (or proved to me on the basis of satisfactory evidence),
and who upon oath acknowledged himself to be the Vice President of LEASE PLAN
NORTH AMERICA, INC., the within-named bargainor, a corporation, and that he, as
such authorized signatory, executed the foregoing instrument (Lease) for the
purpose therein contained by signing the name of said corporation by the said
__________________ as such __________________.

  WITNESS my hand and official seal at office in chicago, Illinois this 20th
day of December, 1995.

                                    /s/ Mary E. Cioe
                                    ----------------------------
                                    Notary Public
My Commission Expires:

November 15, 1999                              [SEAL]

                                      37
<PAGE>

STATE OF TENNESSEE)

COUNTY OF SHELBY)

     Before me, the undersigned authority, a Notary Public within and for the
State and County aforesaid, personally appeared T. M. Seale, Jr., with whom I am
personally acquainted (or proved to me on the basis of satisfactory evidence),
and up upon his oath acknowledged himself to be the Chairman of THE INDUSTRIAL
DEVELOPMENT BOARD OF THE CITY OF MILLINGTON, TENNESSEE, the within-named
bargainor, a public not-for-profit corporation, and that he, as such Chairman,
executed the foregoing instrument (Lease) for the purpose therein contained by
signing the name of said corporation by the said T. M. Seale, Jr. as such
Chairman.

     WITNESS my hand and official seal at office, this 19/th/ day of December,
1995.

                                             /s/ Sheila Jordan (ILLEGIBLE)
                                             --------------------------------
                                             Notary Public

My Commission Expires:

My Commission Expire April __, ____
-----------------------------------

                                      38
<PAGE>

                                   EXHIBIT A
                               LEGAL DESCRIPTION

THAT PORTION OF THE INDUSTRIAL DEVELOPMENT BOARD OF THE CITY OF MILLINGTON,
TENNESSEE 109 ACRE TRACT WHICH LIES TO THE EAST OF MILLINGTON INDUSTRIAL
PARKWAY, SOUTH OF OLD MILLINGTON ROAD (40'R.O.W.) SOUTHWEST OF BILLY G. HALL AND
WIFE, EZELLE F. HALL (INSTRUMENT K6 3222) AND NORTH OF U.S. HIGHWAY 51, BEING
MORE PARTICULARLY DESCRIBED AS FOLLOWS:

BEGINNING AT A SET IRON PIN IN THE NORTHEASTERLY LINE OF MILLINGTON INDUSTRIAL
PARKWAY (88 FOOT R.O.W. AS CONSTRUCTED) 50.08 FEET NORTHWESTWARDLY FROM THE
TANGENT INTERSECTION OF THE ABOVE SAID NORTHEASTERLY LINE WITH THE NORTHWESTERLY
LINE OF U.S. HIGHWAY NO. 51 (100 FEET TO CENTERLINE); THENCE NORTH 46 DEGREES 26
MINUTES 58 SECONDS WEST ALONG THE ABOVE SAID NORTHEASTERLY LINE OF MILLINGTON
INDUSTRIAL PARKWAY 306.88 FEET TO A SET IRON PIN AT A POINT OF CURVE TO THE
RIGHT HAVING A RADIUS OF 1866.81 FEET; THENCE NORTHWESTWARDLY ALONG SAID CURVE
TO THE RIGHT (CONTINUING ALONG SAID NORTHEASTERLY LINE) AN ARC DISTANCE OF
695.18 FEET (CENTRAL ANGLE = 21 DEGREES 20 MINUTES 11 SECONDS - CHORD = NORTH 35
DEGREES 46 MINUTES 29 SECONDS WEST - 691.18 FEET) TO A SET IRON PIN; THENCE
NORTH 25 DEGREES 12 MINUTES 56 SECONDS WEST (CONTINUING ALONG SAID NORTHEASTERLY
LINE) 62.53 FEET TO A SET IRON PIN AT A POINT OF CURVE TO THE RIGHT HAVING A
RADIUS OF 50.00 FEET; THENCE NORTHEASTWARDLY ALONG SAID CURVE TO THE RIGHT AN
ARC DISTANCE OF 76.28 FEET (CENTRAL ANGLE - 87 DEGREES 24 MINUTES 21 SECONDS -
CHORD = NORTH 18 DEGREES 29 MINUTES 14 SECONDS EAST - 69.09 FEET) TO A SET IRON
PIN IN THE SOUTHERLY LINE OF OLD MILLINGTON ROAD (20 FEET TO CENTERLINE); THENCE
NORTH 62 DEGREES 11 MINUTES 25 SECONDS EAST ALONG THE SAID SOUTHERLY LINE OF OLD
MILLINGTON ROAD 921.31 FEET TO A SET IRON PIN AT A POINT OF CURVE TO THE LEFT
HAVING A RADIUS OF 2735.77 FEET; THENCE NORTHEASTWARDLY ALONG SAID CURVE TO THE
LEFT (CONTINUING ALONG SAID SOUTHERLY LINE) AN ARC DISTANCE OF 201.38 FEET
(CENTRAL ANGLE = 4 DEGREES 13 MINUTES 03 SECONDS - CHORD = NORTH 60 DEGREES 04
MINUTES 53 SECONDS EAST - 201.33 FEET) TO A SET IRON PIN; THENCE NORTH 57
DEGREES 58 MINUTES 21 SECONDS EAST (CONTINUING ALONG SAID SOUTHERLY LINE) 440.15
FEET TO A SET IRON PIN AT A POINT OF CURVE TO THE RIGHT HAVING A RADIUS OF
2866.87 FEET; THENCE NORTHEASTWARDLY ALONG SAID CURVE TO THE RIGHT (CONTINUING
ALONG SAID SOUTHERLY LINE) AN ARC DISTANCE OF 103.00 FEET (CENTRAL ANGLE = 02
DEGREES 03 MINUTES 31 SECONDS - CHORD = NORTH 59 DEGREES 00 MINUTES 06 SECONDS
EAST - 102.99 FEET) TO A SET IRON PIN IN THE SOUTH LINE OF THE BILLY K. HALL AND
WIFE, EZELLE F. HALL PROPERTY RECORDED IN INSTRUMENT NUMBER K6-3222 (S.C.R.O.);
THENCE SOUTH 80 DEGREES 50 MINUTES 30 SECONDS EAST ALONG THE SOUTHERLY LINE OF
SAID HALL PROPERTY 765.05 FEET TO A SET IRON PIN IN THE SAID NORTHWESTERLY LINE
OF U.S. HIGHWAY NO. 51; THENCE SOUTH 43 DEGREES 27 MINUTES 30 SECONDS WEST ALONG
SAID NORTHWESTERLY LINE 2186.87 FEET TO A SET IRON PIN AT A POINT OF CURVE TO
THE RIGHT HAVING A RADIUS OF 50.00 FEET; THENCE SOUTHWESTWARDLY-WESTWARDLY AND
NORTHWESTWARDLY ALONG SAID CURVE TO THE RIGHT AN ARC DISTANCE OF 78.62 FEET
(CENTRAL ANGLE = 90 DEGREES 05 MINUTES 32 SECONDS - CHORD - SOUTH 88 DEGREES 30
MINUTES 16 SECONDS WEST - 70.77 FEET) TO THE POINT OF BEGINNING.

<PAGE>

                                  SCHEDULE B
                                  ----------

                                 Encumbrances
                                 ------------

     Easement at Book 2725, Page 58 in said Register's Office.

     Easement at Book 3474, Page 65 in the Register's Office of Shelby County,
Tennessee.

     Easement at Instrument No. V6 5631 in said Register's Office.

     Easement at Instrument No. AX 8110 in said Register's Office.

     Restrictions contained in Special Warranty Deed at Instrument No. AU 5950
in said Register's Office.

     Restrictions contained in Special Warranty Deed at Instrument No. AW 4802
in said Register's Office.

     Easements, setbacks and restrictions at Plat Book 121, Page 12 in said
Register's Office.

     Easements, setbacks and restrictions at Plat Book 138, Page 41 in said
Register's Office.

                                      B-1<PAGE>

                                EXHIBIT 10.105

              AGREEMENT FOR THE PURCHASE AND SALE OF PROPERTY FOR

                              THE LUCENT BUILDING
<PAGE>

                          PURCHASE AND SALE AGREEMENT

                                      FOR

                                200 LUCENT LANE

                              CARY, NORTH CAROLINA

                            LUCENT TECHNOLOGIES INC.

                                     SELLER

                                       TO

                       WELLS OPERATING PARTNERSHIP, L.P.

                                     BUYER

                        DATE: as of September __, 2001

<PAGE>

                                    * * * *

     The mailing, delivery or negotiation of this Agreement by Seller or its
agent or attorney shall not be deemed an offer by Seller to enter into any
transaction or to enter into any other relationship, whether on the terms
contained herein or on any other terms. This Agreement shall not be binding upon
Seller, nor shall Seller have any obligations or liabilities or Buyer any rights
with respect thereto, or with respect to the Property, unless and until Seller
has executed and delivered this Agreement. Until such execution and delivery of
this Agreement, Seller may terminate all negotiation and discussion of the
subject matter hereof, without cause and for any reason, without recourse or
liability.

                                    * * * *
<PAGE>

                               TABLE OF CONTENTS
<TABLE>
<CAPTION>

                                                                                                                             Page
                                                                                                                             ----
<S>                                                                                                                          <C>
ARTICLE 1.  DEFINITIONS...................................................................................................    1
            -----------

ARTICLE 2.  TERMS OF SALE.................................................................................................    6
            -------------
     Section 2.1.  Purchase Price.........................................................................................    6
                   --------------
     Section 2.2.  Down Payment...........................................................................................    6
                   ------------
     Section 2.3.  Payment of Purchase Price..............................................................................    7
                   -------------------------
     Section 2.4.  Buyer's Right to Terminate.............................................................................    7
                   --------------------------

ARTICLE 3.  CLOSING.......................................................................................................    8
            -------
     Section 3.1.  Closing................................................................................................    8
                   -------
     Section 3.2.  Seller's Closing Obligations...........................................................................    8
                   ----------------------------
     Section 3.3.  Buyer's Closing Obligations............................................................................    9
                   ---------------------------

ARTICLE 4.  TITLE.........................................................................................................    9
            -----
     Section 4.1.  Title Commitment.......................................................................................    9
                   ----------------
     Section 4.2.  Seller's Right to Extend Closing.......................................................................   10
                   --------------------------------
     Section 4.3.  Limitation on Seller's Title Obligations...............................................................   10
                   ----------------------------------------
     Section 4.4.  Buyer's Right to Accept Title..........................................................................   10
                   -----------------------------
     Section 4.5.  Seller's Failure to Perform............................................................................   10
                   ---------------------------

ARTICLE 5.  SELLER'S RIGHT TO REMOVE FF&E.................................................................................   11
            -----------------------------
     Section 5.1.  Seller's Right to Remove FF&E..........................................................................   11
                   -----------------------------
     Section 5.2.  Sale to Buyer of Remaining FF&E........................................................................   12
                   -------------------------------
     Section 5.3.  Modular Office Furniture...............................................................................   12
                   ------------------------

ARTICLE 6.  BUYER'S RIGHTS OF ACCESS AND INFORMATION......................................................................   13
            ----------------------------------------
     Section 6.1.  Buyer's Access Prior to Closing........................................................................   13
                   -------------------------------
     Section 6.2.  Buyer's Access to Plans and Due Diligence Material.....................................................   14
                   --------------------------------------------------
     Section 6.3.  Buyer's Indemnity......................................................................................   15
                   -----------------
</TABLE>

                                      (i)
<PAGE>

<TABLE>
<CAPTION>
                                                                                                                        Page
                                                                                                                        ----
<S>                                                                                                                     <C>
     Section 6.4.  Buyer's Insurance..................................................................................   15
                   -----------------
     Section 6.6.  Environmental Reports..............................................................................   15
                   ---------------------
     Section 6.7.  Environmental Inspection...........................................................................   16
                   ------------------------
     Section 6.8.  Survival...........................................................................................   17
                   --------

ARTICLE 7.  REPRESENTATIONS AND WARRANTIES............................................................................   17
            ------------------------------
     Section 7.1.  Seller's Representations...........................................................................   17
                   ------------------------
     Section 7.2.  Property to be Sold "As Is"........................................................................   21
                   ---------------------------
     Section 7.3.  Buyer's Representations............................................................................   22
                   -----------------------
     Section 7.4.  Survival of Representations and Warranties and No Third Party Beneficiaries........................   22
                   ---------------------------------------------------------------------------

ARTICLE 8.  ADJUSTMENTS AND EXPENSES..................................................................................   23
            ------------------------
     Section 8.1.  Seller's Expenses..................................................................................   23
                   -----------------
     Section 8.5.  Tax Adjustment.....................................................................................   24
                   --------------

ARTICLE 9.  FIRE AND OTHER CASUALTY...................................................................................   25
            -----------------------
     Section 9.1.  Seller's Obligation to Insure......................................................................   25
                   -----------------------------
     Section 9.2.  Buyer's Elections Upon Casualty....................................................................   25
                   -------------------------------
     Section 9.3.  Buyer's Election to Repair.........................................................................   26
                   --------------------------
     Section 9.4.  Purchase Price Unaffected..........................................................................   26
                   -------------------------

ARTICLE 10.  CONDEMNATION.............................................................................................   26
             ------------
     Section 10.1.  Taking of Less than Substantial Part..............................................................   26
                    ------------------------------------
     Section 10.2.  Taking of Substantial Part........................................................................   27
                    --------------------------

ARTICLE 11.  BROKERS..................................................................................................   27
             -------
     Section 11.1.  Brokers...........................................................................................   27
                    -------

ARTICLE 12.  CONFIDENTIALITY AND USE OF NAME..........................................................................   28
             -------------------------------
     Section 12.1.  Confidentiality...................................................................................   28
                    ---------------
     Section 12.2.  Use of Lucent Name................................................................................   28
                    ------------------

</TABLE>

                                     (ii)
<PAGE>

<TABLE>
<CAPTION>
                                                                                                                        Page
                                                                                                                        ----
<S>                                                                                                                     <C>
     Section 12.3.  Press Release.....................................................................................   29
                    -------------
     Section 12.4.  Survival of Seller's and Buyer's Obligations......................................................   29
                    --------------------------------------------

ARTICLE 13.  ATTORNEYS' FEES..........................................................................................   29
             ---------------
     Section 13.1.  Attorneys' Fees...................................................................................   29
                    ---------------

ARTICLE 14.  RECORDATION AND ASSIGNMENT...............................................................................   29
             --------------------------
     Section 14.1.  Recordation and Assignment........................................................................   29
                    --------------------------

ARTICLE 15.  MERGER OF CONTRACT.......................................................................................   30
             ------------------
     Section 15.1.  Merger............................................................................................   30
                    ------

ARTICLE 16.  APPLICABLE LAW...........................................................................................   30
             --------------
     Section 16.1.  Applicable Law....................................................................................   30
                    --------------

ARTICLE 17.  [Intentionally Deleted]..................................................................................   30

ARTICLE 18.  EXCHANGE OF PROPERTIES...................................................................................   31
             ----------------------
     Section 18.1.  Exchange of Properties............................................................................   31
                    ----------------------

ARTICLE 19.  MISCELLANEOUS............................................................................................   32
             -------------
     Section 19.1.  Entire Agreement..................................................................................   32
                    ----------------
     Section 19.2.  All Amendments in Writing.........................................................................   32
                    -------------------------
     Section 19.4.  Counterparts......................................................................................   32
                    ------------
     Section 19.5.  Origination Of Document...........................................................................   32
                    -----------------------
     Section 20.1.  Notices...........................................................................................   33
                    -------
EXHIBIT A  The Land...................................................................................................   A-1

EXHIBIT B  Escrow Agreement...........................................................................................   B-1

EXHIBIT C  Permitted Exceptions.......................................................................................   C-1

EXHIBIT D  Certificate of Nonforeign Transfer.........................................................................   D-1

EXHIBIT E  Bill of Sale...............................................................................................   E-1

EXHIBIT F  Violations.................................................................................................   F-1

EXHIBIT G  Environmental Reports......................................................................................   G-1
</TABLE>

                                     (iii)
<PAGE>

<TABLE>
<CAPTION>
                                                                                                                         Page
                                                                                                                         ----
<S>                                                                                                                      <C>
EXHIBIT H  Assignment Agreement.......................................................................................   H-1

EXHIBIT I  Lucent Lease...............................................................................................   I-1

EXHIBIT J  Seller's Affirmation of Representations and Warranties.....................................................   J-1

EXHIBIT K  Contracts..................................................................................................   K-1

EXHIBIT L  Buyer's Affirmation of Representations and Warranties......................................................   L-1

EXHIBIT M  Declarant Estoppel.........................................................................................   M-1

EXHIBIT N  Waiver of Right of First Purchase and Approval of Recombination Plat.......................................   N-1

EXHIBIT O  Modular Office Furniture...................................................................................   O-1
</TABLE>

                                     (iv)
<PAGE>

                          PURCHASE AND SALE AGREEMENT
                          ---------------------------

          This Purchase and Sale Agreement (the "Agreement") is dated as of
September _____, 2001, by and between LUCENT TECHNOLOGIES INC., a Delaware
corporation, having its principal office at 600 Mountain Avenue, Murray Hill,
New Jersey 07962 ("Seller"), and WELLS OPERATING PARTNERSHIP, L.P., a Delaware
limited partnership, having an office at 6200 The Corners Parkway, Suite 250,
Atlanta, Georgia 30082 ("Buyer").

                                  WITNESSETH:
                                  ----------

          WHEREAS, Seller owns and desires to sell to Buyer (a) the real
property and improvements commonly known as 200 Lucent Lane located on an
existing subdivided parcel designated Lot 1-B-I on plat of survey entitled
"Subdivision Map:  LUCENT TECHNOLOGIES Lot 1-B Triangle Medical & Surgical
Associates, LLC dated 02-23-99 prepared by Sullivan Surveying (the "Plat")
recorded in Book of Maps 1999, Page 1059, Wake County, North Carolina Registry
(the "Building Parcel") and (b) the real property comprising an existing
subdivided parcel adjacent to the Building Parcel shown as Lot 1-B-II on the
Plat (the "Development Parcel"), and Buyer desires to purchase such property
from Seller, upon the terms and conditions herein contained.

          NOW, THEREFORE, the parties hereto agree as follows:

                            ARTICLE 1.  DEFINITIONS
                                        -----------

          (a)  As used in this Agreement, the following terms shall have the
meanings set forth below when capitalized:

          (i)  "Agreement" shall mean this Purchase and Sale Agreement.
                ---------

          (ii) "Building" shall mean all buildings and improvements situated on
                --------
the Building Parcel.

                                      -1-
<PAGE>

          (iii)  "Building Fixtures" shall mean the heating, air conditioning,
                  -----------------
compressed air, steam, ventilation, plumbing, substations and electrical wiring
systems, racking, elevators and all other systems and equipment located on the
Property, including spare parts and tools specifically designed and used
exclusively for the maintenance or operation of such systems and equipment.

          (iv)   "Business Day" shall mean any day other than a Saturday,
                  ------------
Sunday, or legal holiday in the State of North Carolina.

          (v)    "Buyer's Broker" shall mean jointly Adevco Realty and First
                  --------------
Fidelity Investments Corporation.

          (vi)   "Buyer's Intended Use" shall mean any use permitted under
                  --------------------
zoning ordinances applicable to Regency Park, Cary, North Carolina and
consistent with the use of the Property as a first class commercial or corporate
park.

          (vii)  "Closing Date" shall mean September 26, 2001.
                  ------------

          (viii) "Date of this Agreement" shall be the date of execution by the
                  ----------------------
last to sign of the parties to this Agreement.

          (ix)   "Days" shall mean calendar days unless otherwise expressly set
                  ----
forth.

          (x)    "Down Payment" shall mean the Initial Down Payment and the
                  ------------
Subsequent Down Payment, which shall be an official bank  check payable to
Escrow Agent or a wire transfer of immediately available federal funds to Escrow
Agent.  The Down Payment shall be held by Escrow Agent in an interest bearing
account.  All interest on the Down Payment shall accrue to the benefit of Buyer
and shall be credited to the Purchase Price if title closes.  If the Down
Payment is forfeited, Seller retains the interest.

          (xi)   "Due Diligence Period" shall mean the period of Buyer's
                  --------------------
inspection of the Property ending September 18, 2001, at 6:00 p.m. Eastern
Standard Time.

          (xii)  "Escrow Agent" shall mean the authorized agent of the Title
                  ------------
Company in Raleigh, North Carolina.

          (xiii) "FF&E" shall mean all moveable, non-attached furniture
                  ----
[excluding the Modular Office Furniture (as hereinafter defined)], furnishings,
fixtures (excluding Building Fixtures),

                                      -2-
<PAGE>

fittings, trade fixtures, equipment, machinery, apparatus, appliances and other
articles of personal property owned by Seller and located at the Building as of
the Date of this Agreement and used in connection with the operation,
maintenance and management of the Building. FF&E expressly does not include
moveable, non-attached personal property of Seller used in connection with its
business such as personal computers, room partitions, bookcases, photocopiers,
telecommunications equipment, microwaves, refrigerators, televisions and
monitors, portable heating or air conditioning equipment, and office supplies
and furniture other than the Modular Office Furniture.

          (xiv)  "Hazardous Substances" shall mean those substances identified
                  --------------------
as "regulated substances", "toxic substances", "toxic wastes", "hazardous
substances", or "hazardous wastes", including petroleum and petroleum products,
under the Resource Conservation and Recovery Act or the Comprehensive
Environmental Response, Compensation, and Liability Act, or any applicable
state, county or local law or regulation.

          (xv)   "Indemnify" shall mean to defend, indemnify and save harmless
                  ---------
against all claims, liabilities, losses, damages, costs and expenses (including
reasonable attorney's fees, expert witness fees and other costs of defense).

          (xvi)  "Initial Down Payment" shall mean Two Hundred Fifty Thousand
                  --------------------
and No/100 Dollars ($250,000.00) to be paid to Escrow Agent.

          (xvii)  "Intangible Property" shall mean the following intangible
                   -------------------
property owned by Seller and now or hereafter located upon the Land and relating
to or used in connection with the Property: (i) the name of the Building, (ii)
logos associated with the Building, (iii) warranties and guaranties relating
solely to the Building and Building Fixtures, (iv) certificates of occupancy (or
the local equivalents), permits, licenses, approvals and authorizations related
solely to the Property, and (v) all plans and specifications relating to the
development of the Property including, without limitation, the plans and
specifications for the Building.  Notwithstanding the foregoing, Intangible
Property does not include any intangible property related to Seller's

                                      -3-
<PAGE>

products, services or business or any tradename, trademark, servicemark or logo
not specifically and solely related to the Building or the Property.

          (xviii)  "Land" shall mean, collectively, the Building Parcel and the
                    ----
Development Parcel as more particularly described on Exhibit A attached hereto.

          (xix)    "Listing Broker" shall mean CB Richard Ellis, Inc.
                    --------------

          (xx)     "Lucent and Affiliates" shall mean Lucent Technologies Inc.
                    ---------------------
and any company directly or indirectly controlled by it, and each current or
former officer, director and employee of any of the foregoing.

          (xxi)    "Lucent Lease" shall mean the triple net lease of the
                    ------------
Building Parcel to be entered into on the Closing Date by Buyer as landlord and
Seller as Tenant.

          (xxii)   "Maximum Amount" shall mean one-half of one percent (0.5%)
                    --------------
of the Purchase Price.

          (xxiii)  "Permitted Exceptions" shall mean the matters specified on
                    --------------------
Exhibit C attached hereto.

          (xxiv)   "Property" shall mean the Land; the Building; the Building
                    --------
Fixtures; the Intangible Property; all right, title and interest of Seller, if
any, in and to the land lying in the bed of any street or highway in front of or
adjoining the Land and to any unpaid award for any taking by condemnation, or
any damage to the Land by reason of a change of grade of any street or highway;
and the appurtenances and all the estate and rights of Seller in and to the Land
and Building.

          (xxv)    "Seller's Broker" shall mean CB Richard Ellis, Inc.
                    ---------------

          (xxvi)   "Seller's Knowledge" shall mean the actual knowledge of
                    ------------------
Michael Charles, Seller's manager responsible for the sale of the Property, and
Wade Murphy, Seller's employee responsible for the management and operation of
the Property, and, with respect to environmental matters only, Niki Farbotko,
Seller's regional environmental engineer for the Property.

                                      -4-
<PAGE>

          (xxvii)  "Subsequent Down Payment" shall mean Two Hundred Fifty
                    -----------------------
Thousand and No/100 Dollars ($250,000.00) to be paid to Escrow Agent.

          (xxviii) "Substantial Part" shall mean a part of the Property without
                    ----------------
which, in the reasonable opinion of Buyer, the remainder of the Property will
not be suitable for Buyer's intended use.

          (xxix)   "Survey" shall mean an ALTA "as built" survey to be obtained
                    ------
by Seller for Buyer, at Seller's expense.

          (xxx)    "Taking" shall mean any taking by condemnation or eminent
                    ------
domain (or a deed in lieu thereof) of all or a portion of the Property.

          (xxxi)   "Title Company" shall mean Fidelity National Title Insurance
                    -------------
Company of New York.

          (xxxii)  "Title Report" shall mean Binder No. 01R167839-S0 effective
                    ------------
August 2, 2001, issued by the Title Company or its authorized agent for an
Owner's ALTA Title Insurance Policy for the Property.

          (b)      In addition, the following terms, wherever used in this
Agreement, shall have the meanings set forth in the following Sections:

                   Term                          Section
                   ----                          -------
                   Casualty                        9.2
                   Closing                         3.1
                   Environmental Reports           6.6
                   Information                    12.1
                   Intermediary                   18.1(d)
                   Lucent Lease Default            5.3
                   Modular Office Furniture        5.1
                   Notices                        20.1
                   Offer                           2.5
                   Property Records                6.2

                                      -5-
<PAGE>

                   Purchase Price                  2.1
                   Repair                          9.2
                   Violations                      7.1(d)(i)

                           ARTICLE 2.  TERMS OF SALE
                                       -------------
     Section 2.1.  Purchase Price.
                   --------------

     Subject to the terms and conditions hereof, Seller hereby agrees to sell to
Buyer, and Buyer hereby agrees to purchase from Seller, the Property for
Seventeen Million Six Hundred Fifty Thousand and No/100 Dollars ($17,650,000.00)
(the "Purchase Price").

     Section 2.2.  Down Payment.
                   ------------

     Within two (2) Business Days after Buyer's receipt of a counterpart of this
Agreement as executed by Seller, Buyer shall pay the Initial Down Payment to
Escrow Agent and deliver to Seller the Escrow Agreement as executed by Buyer and
Escrow Agent, time being of the essence, failing which Seller may terminate this
Agreement upon written notice to Buyer. Unless this Agreement is terminated in
accordance with Section 2.4, Buyer shall pay the Subsequent Down Payment to
Escrow Agent on the date of or prior to the expiration of the Due Diligence
Period, time being of the essence. These payments shall be credited against the
Purchase Price specified in Section 2.1 or disbursed as provided in this
Agreement. In the event Buyer defaults in the performance of its obligations
under this Agreement, Seller shall be entitled to the full amount of any Down
Payment paid to Escrow Agent, plus any interest earned thereon, as liquidated
damages. Buyer and Seller expressly acknowledge that such liquidated damages are
reasonable and appropriate in the case of Buyer's default, since it would be
impracticable or extremely difficult to determine the exact amount of Seller's
damages. Upon receipt by Seller of the Down Payment, plus any such interest,
Seller expressly waives all other remedies against Buyer, including the right to
sue for specific performance, and all parties shall thereupon be released from
this Agreement. Nothing in this Section 2.2 shall limit or affect any rights to

                                      -6-
<PAGE>

indemnification which Seller may have against Buyer under any of the provisions
of this Agreement. Buyer and Seller shall execute on the date of their
respective executions of this Agreement the Escrow Agreement in the form
attached hereto as Exhibit B and made part hereof by this reference.

     Section 2.3.  Payment of Purchase Price.
                   -------------------------

     The Purchase Price, minus the Down Payment and interest earned thereon
specified in Section 2.2, plus or minus prorations and adjustments, shall be
paid to Seller at the Closing by the wire transfer of federal funds to a bank
account to be designated by Seller in writing at or prior to the Closing or if
no such designation is given, by certified check of Buyer, or bank cashier's
check, payable directly to Seller to be delivered at Closing.

     Section 2.4.  Buyer's Right to Terminate.
                   --------------------------

     During the Due Diligence Period, Buyer shall seek to satisfy itself as to
the physical and environmental condition of the Property and its suitability for
Buyer's Intended Use, as determined by Buyer in its sole discretion. If Buyer is
satisfied with its investigation of the Property, Buyer shall advise Seller in
writing prior to the end of the Due Diligence Period that the condition of the
Property is satisfactory and shall simultaneously forward the Subsequent Down
Payment to Escrow Agent on the date of or prior to the expiration of the Due
Diligence Period, time being of the essence. If Buyer does not give the notice
and pay the Subsequent Down Payment on the date of or prior to the expiration of
the Due Diligence Period, this Agreement shall be automatically terminated
without further obligation of any party hereto and Escrow Agent shall
immediately return to Buyer, with any interest earned thereon, any portion of
the Down Payment held by Escrow Agent. Within ten (10) Business Days after
termination of this Agreement pursuant to this section, Buyer shall, without
cost to Seller, deliver to Seller (without representation as to accuracy or
completeness) copies of any engineering data, surveys, title work, environmental
or soil reports, zoning or land use documents, and other third party studies or
reports in Buyer's possession relating to the Property, but excluding any
information or materials relating to market or investment analysis.

                                      -7-
<PAGE>

                              ARTICLE 3.  CLOSING
                                          -------
     Section 3.1.  Closing.
                   -------

     Consummation of the purchase and sale contemplated by this Agreement (the
"Closing") shall take place on the Closing Date at 10:00 a.m. at the office of
Seller's counsel, Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan, L.L.P.,
2500 First Union Capitol Center, Raleigh, North Carolina 27601, or at such other
place as Seller and Buyer may mutually agree in writing. TIME IS OF THE ESSENCE
with respect to the Closing Date. At Buyer's option, Seller agrees to cooperate
with Buyer to effect an escrow closing through delivery of documents, in
advance, to the Title Company, thereby obviating the need for representatives of
Seller and Buyer to actually attend the Closing.

     Section 3.2.  Seller's Closing Obligations.
                   ----------------------------

         At the Closing, and as a condition to the payment of the Purchase
Price, Seller shall deliver or cause to be delivered the following:

     (a) a special warranty deed in the customary and proper form for recording,
duly executed and acknowledged, so as to convey the real estate portion of the
Property (including Building Fixtures) to Buyer, subject only to the Permitted
Exceptions;

     (b) such affidavits of title and other customary documents and
instruments as the Title Company may reasonably require in accordance with
customary practice with respect to mechanic's liens and parties in possession
affecting the Property, other than Seller under the Lucent Lease, and a duly
executed affidavit that Seller is not a "foreign corporation" as defined in the
Internal Revenue Code in the form attached hereto as Exhibit D;

     (c) a bill of sale transferring such FF&E as may remain on the Property to
Buyer in the form attached hereto as Exhibit E;

     (d) the Lucent Lease substantially in the form of Exhibit I, duly executed
by Seller;

     (e) Seller's affirmation of representations and warranties, as referred to
in Section 7.4, in the form attached hereto as Exhibit J;

                                      -8-
<PAGE>

     (f)  the Declarant Estoppel in the form attached hereto as Exhibit M;

     (g)  the Waiver of Right of First Purchase and Approval of Recombination
Plat in the form attached hereto as Exhibit N; and

     (h)  any other documents reasonably necessary for the consummation of the
transaction contemplated by this Agreement.

     Section 3.3.  Buyer's Closing Obligations.
                   ---------------------------

     At the Closing, as a condition to the delivery of the deed and the other
documents to be delivered by Seller hereunder, Buyer shall deliver or cause to
be delivered to Seller the following:

     (a)  the balance of the Purchase Price as set forth in Section 2.3;

     (b)  Buyer's affirmation of representations and warranties, as referred to
in Section 7.4, in the form attached hereto as Exhibit L;

     (c)  the Lucent Lease substantially in the form of Exhibit I, duly executed
by Buyer; and

     (d)  any other documents reasonably necessary for the consummation of the
transaction contemplated by this Agreement.

                               ARTICLE 4.  TITLE
                                           -----
     Section 4.1.  Title Commitment.
                   ----------------

     Seller has furnished to Buyer the Title Report. Within ten (10) Business
Days after receipt of the Title Report, Buyer shall advise Seller in writing if
any matter disclosed by the Title Report renders title unmarketable or impairs
or restricts the use and occupancy of the Property for Buyer's Intended Use;
provided, however, the Permitted Exceptions shall not be deemed to impair or
restrict the Buyer's Intended Use of the Property. Buyer shall have an
additional ten (10) Business Days after receipt of the Survey to advise Seller
if any matter disclosed on the Survey, and not contained in the Title Report,
renders title unmarketable or

                                      -9-
<PAGE>

impairs or restricts the use and occupancy of the Property for Buyer's Intended
Use. Buyer's failure to give such notices shall constitute an irrevocable waiver
of all such matters disclosed by the Title Report and the Survey and any
exceptions not objected to shall be deemed to be Permitted Exceptions; provided,
however, the foregoing shall not bar the right of Buyer to object to any matters
of title or survey that appear after the effective date of the Title Report or
the date of the Survey.

     Section 4.2.  Seller's Right to Extend Closing.
                   --------------------------------

     In the event of any objection by Buyer under Section 4.1, Seller shall, at
its option, be entitled to an adjournment of the Closing, if necessary, for a
period not to exceed thirty (30) Days to enable Seller to attempt to remove any
claimed defect, lien, encumbrance or objection.

     Section 4.3.  Limitation on Seller's Title Obligations.
                   ----------------------------------------

     Seller shall not be required or obligated to (i) commence any litigation or
(ii) to incur any costs or expenses in excess of the Maximum Amount to cure or
remove any defect, lien, encumbrance or objection, except that Seller shall be
obligated to cure, remove or provide for the satisfaction of any defect, lien,
encumbrance or objection which arises from Seller's actions after the Date of
this Agreement and Seller shall be obligated to cure, remove or provide for the
satisfaction of any contractual liens such as mortgages or deeds of trust,
mechanic's and materialmen's liens, and judgment liens and tax liens.

     Section 4.4.  Buyer's Right to Accept Title.
                   -----------------------------

     If Seller advises Buyer that Seller is unable to remove any defect, lien,
encumbrance or objection (other than matters Seller is obligated to cure
pursuant to Section 4.3), Buyer may nevertheless elect to accept such title as
Seller may be able to convey, and Buyer shall not be entitled to any abatement,
reduction of or any credit or allowance against the Purchase Price by reason
thereof, and Seller shall have no further liability with respect thereof.

     Section 4.5.  Seller's Failure to Perform.
                   ---------------------------

     If Seller fails to convey the Property to Buyer in accordance with the
terms, conditions and provisions herein contained and such failure is not
excused by Buyer's failure to perform its

                                     -10-
<PAGE>

obligations under this Agreement, Buyer shall have the right as its sole and
exclusive alternate remedies (i) to terminate this Agreement and receive a
refund of the entire Down Payment with interest and to receive from Seller an
amount equal to the actual documented and reasonable out-of-pocket expenses of
third parties incurred by Buyer in connection with its investigation of the
Property and the preparation and negotiation of this Agreement, the Lucent Lease
and any closing documents, such as attorneys' fees, appraisal fees, inspection
fees, and environmental consultant fees, not to exceed $100,000.00, Lucent
having no liability to Buyer for any costs attributable to Buyer's officers or
employees such as home office overhead or their costs and expenses in connection
with investigation of the Property and the preparation and negotiation of this
Agreement; or (ii) to institute an action for specific performance, and in a
successful action therefor to recover its reasonable attorneys' fees and costs
incurred directly in connection with such action, or (iii) in the event that an
action for specific performance is not available to Buyer due to the willful act
of Seller (for example, the conveyance of title to the Property or the
conveyance of an interest in the Property in violation of the terms of this
Agreement which is not removed by Seller at Closing and which materially,
adversely affects the Property), and only in such event, Buyer may pursue all
rights and remedies against Seller for such default by Seller; provided,
however, in no event shall Buyer be entitled to seek, claim or recover any
consequential or punitive damages from Seller.

                   ARTICLE 5.  SELLER'S RIGHT TO REMOVE FF&E
                               -----------------------------

     Section 5.1.  Seller's Right to Remove FF&E.
                   -----------------------------

     Seller, at its election, may either remove from the Property, or leave on
the Property, on or prior to the Closing Date, all FF&E on the Property as of
the Date of this Agreement except the modular office furniture attached to the
floors and ceilings of the Building and associated chairs and more particularly
described on Exhibit O attached hereto (the "Modular Office Furniture"), which
must remain in the Building. Seller may remove, at its option, any FF&E

                                     -11-
<PAGE>

placed on the Property after the Date of this Agreement except any additions to
or replacements of the Modular Office Furniture. Seller shall use reasonable
care in removing any FF&E and shall repair any damage or destruction done to the
Property by such removal, but shall otherwise have no obligation in connection
with such removal.

     Section 5.2.  Sale to Buyer of Remaining FF&E.
                   -------------------------------

     All FF&E remaining on the Property on the Closing Date but excluding
Seller's trade fixtures such as movable, non-attached personal property of
Seller used in connection with its business such as personal computers, room
partitions, bookcases, photocopiers, telecommunications equipment, microwaves,
refrigerators, televisions and monitors, portable heating or air conditioning
equipment, and office supplies and furniture other than the Modular Office
Furniture, is included in the Purchase Price. THE FF&E SOLD UNDER THIS AGREEMENT
IS SOLD AS USED OR SURPLUS MATERIAL AND IS SOLD "AS IS, WHERE IS" WITH ALL
FAULTS, LATENT AND PATENT. SELLER MAKES NO WARRANTIES, EXPRESS OR IMPLIED,
INCLUDING ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR
WARRANTY AGAINST PATENT, TRADEMARK, OR COPYRIGHT INFRINGEMENT.

     Section 5.3.  Modular Office Furniture.
                   ------------------------

     Notwithstanding anything in this Agreement to the contrary, Buyer agrees
that the Modular Office Furniture in the Building on the Closing Date shall
remain the personal property of Seller and Seller shall be entitled to all
benefits of ownership, including the right to depreciate its investment in such
personal property. If Seller does not renew the Lucent Lease at the end of the
base term or any renewal term or upon the default (beyond any applicable grace
or cure period) of Seller as tenant under the Lucent Lease (a "Lucent Lease
Default"), title to the Modular Office Furniture shall automatically pass to
Buyer free and clear of any lien or security interest; provided, however, Buyer
agrees that, in the event of a Lucent Lease Default, Buyer

                                     -12-
<PAGE>

shall not remove the Modular Office Furniture from the Building or deny Seller
the right to use the Modular Office Furniture unless and until one of the
following has occurred: (i) Seller's right to possession to the Building has
been terminated pursuant to entry of an order of ejectment entered in Wake
County, North Carolina after a Lucent Lease Default, or (ii) Seller has vacated
the Building following a Lucent Lease Default, or (iii) Seller has otherwise
been adjudicated to be in default under the Lucent Lease by a court of competent
jurisdiction.

     If Buyer is entitled to the Modular Office Furniture as described above, at
Buyer's request, Seller shall execute and deliver to Buyer a bill of sale for
the Modular Office Furniture and shall, as necessary, cause any such lien or
security interest to be released.  Seller shall not grant any lien or security
interest with respect to the Modular Office Furniture.  The Modular Office
Furniture shall be subject to ordinary wear and tear, and Seller shall not be
obligated to replace any of the Modular Office Furniture due to ordinary wear
and tear.

             ARTICLE 6.  BUYER'S RIGHTS OF ACCESS AND INFORMATION
                          ---------------------------------------

     Section 6.1.  Buyer's Access Prior to Closing.
                   -------------------------------

     Subject to Seller's reasonable requirements for security and the protection
of its confidential information, Buyer and its representatives, lenders,
consultants and contractors shall be permitted access to the Property upon prior
telephonic and email notice to Wade Murphy at (336) 279-3052 and
wademurphy@lucent.com with additional telephonic and email notice to George Hill
---------------------
at (919) 463-4150 and gshill@lucent.com during normal business hours or at other
                      -----------------
mutually convenient times prior to Closing in order to inspect the same, prepare
a survey, take measurements and conduct tests, provided Seller gives its prior
written approval of any tests involving coring or drilling into the Building or
parking areas, sidewalks, or plazas, which approval Seller shall not
unreasonably withhold, condition or delay.  During such access, the foregoing
personnel shall not cause any interference with the operation of Seller  or
damage to

                                     -13-
<PAGE>

the Property which will not be repaired by Buyer pursuant to Section 6.7 below.
If such access to the Property requires entry into the Building then used by
Seller, Seller may require that persons having access be accompanied by
representatives of Seller while inside the Building.

     Section 6.2.  Buyer's Access to Plans and Due Diligence Material.
                   --------------------------------------------------

     Prior to the Date of this Agreement, Seller has delivered to Buyer
offering materials about the Property, an existing environmental site assessment
of the Property, a previously approved site plan, existing surveys of the
Property, and the existing owner's title insurance policy and copies of the
title exceptions noted therein (the "Due  Diligence Material").  Seller has also
delivered to Buyer a proposed recombination plat of the Property to be recorded
before the Closing Date changing the location of the property line between the
Development Parcel and the Building Parcel.  To the extent not previously
furnished with the Due Diligence Material, Seller, at its option, shall deliver
to Buyer or permit Buyer to make, at Buyer's expense, photocopies or other
reproductions of plans and specifications, for the Building and Building systems
(including any "as built" drawings), maintenance records, licenses, permits,
reports, certificates and such other items relating to the construction and
operation of the Property, if any, as may be in the possession of Seller at the
Property or readily available to Seller  ("Property Records") and be reasonably
reproducible by mechanical means.  To the extent the Property Records are not
reasonably reproducible by mechanical means, Seller shall make nonreproducible
items available for inspection by Buyer or Buyer's employees, representatives or
consultants at Seller's office at the Property or such other location that
Seller shall reasonably designate.  Seller makes no representation and assumes
no liability for the accuracy, availability or completeness of the Due Diligence
Material or the Property Records and Buyer assumes all risk in connection with
the use thereof, and, with the exception of alterations of the Due Diligence
Material or the Property Records by Seller or the knowing and intentional
withholding of information or documents respecting the accuracy, availability or
completeness of the Due Diligence Material or the Property Records or in the
event of any fraudulent use of the Due Diligence Material or the

                                     -14-
<PAGE>

Property Records by Seller in connection with the purchase and sale contemplated
by this Agreement, releases Lucent and Affiliates from any liability in
connection with the use of the Due Diligence Material and the Property Records
by Buyer or by any other person. If for any reason not attributable to Seller
the Closing does not occur, Buyer shall promptly return to Seller any
photocopies or reproductions of the Due Diligence Material or the Property
Records Buyer has obtained without retaining any copies thereof. The provisions
of this Section 6.2 shall expressly survive for a period of two (2) years after
the Closing or any cancellation or termination of this Agreement.

     Section 6.3.  Buyer's Indemnity.
                   -----------------

     The rights granted under this Article 6 shall be at Buyer's sole risk.
Buyer shall Indemnify Lucent and Affiliates against injury, including death, to
any person, or damage or loss of any kind to property, including the Property
and other property of Seller, that may occur as a result of Buyer's exercise of
any of the rights granted under this Article 6.

     Section 6.4.  Buyer's Insurance.
                   -----------------

     Buyer shall keep in force public liability insurance in good and solvent
insurance companies in limits of at least $1,000,000/$5,000,000 for bodily
injury and $1,000,000 for property damage, covering its liability hereunder.
Lucent and Affiliates shall be named as additional insureds under such insurance
and certificates of such insurance shall be delivered to Seller prior to such
entry. Such certificates shall provide that they may not be cancelled or
modified unless Seller is given at least ten (10) Days prior written notice.
Buyer may maintain such coverage under its national blanket coverage.

     Section 6.5.  [Intentionally Deleted]

     Section 6.6.  Environmental Reports.
                   ---------------------

     Seller has previously delivered to Buyer a copy of those environmental
reports pertaining to the Property listed on Exhibit G (the "Environmental
Reports"). The Environmental Reports shall be subject to the confidentiality
obligations of Section 13.1 whether or not so marked. Seller makes no
representation or warranty and assumes no liability for the accuracy or

                                     -15-
<PAGE>

completeness of the Environmental Reports or any of the matters contained in
such reports, and Buyer assumes all risk in connection with the use thereof and,
with the exception of alterations of the Environmental Reports by Seller or the
knowing and intentional withholding of information or documents respecting the
accuracy, availability or completeness of the Environmental Reports or in the
event of any fraudulent use of the Environmental Reports by Seller in connection
with the purchase and sale contemplated by this Agreement, releases Lucent and
Affiliates from any liability in connection with the use of the Environmental
Reports by Buyer or any other person. If for any reason the Closing does not
occur, Buyer shall promptly return to Seller all copies of the Environmental
Reports without retaining any copies thereof. The provisions of this Section 6.6
shall expressly survive for a period of two (2) years after the Closing or any
termination or cancellation of this Agreement.

          Section 6.7.  Environmental Inspection.
                        ------------------------

          After the Date of this Agreement, Buyer may, at its sole cost and
expense, make, upon prior telephonic and email notice to Seller's
representative, Niki Farbotko at (404) 573-6196 and nhoffman@lucent.com with
                                                    -------------------
telephonic and email notice to George Hill at (919) 463-4150 and

gshill@lucent.com, such environmental inspections and tests of the Property as
-----------------
Buyer chooses, provided Seller gives its prior written approval of any tests
involving coring or drilling into the Building or parking areas, sidewalks or
plazas and of any plan for disturbing any material surface area of the Land in
connection with Buyer's environmental due diligence, which approval Seller shall
not unreasonably withhold, condition or delay, and that Buyer repairs any damage
to the Property occasioned by such inspections and tests and restores the
Property to substantially the condition that existed prior to such inspections
and tests.  If Buyer's inspection of the Property during the Due Diligence
Period reveals any Hazardous Substances the assessment and remediation of which
is required under applicable law, Buyer shall promptly advise Seller of same.
Notwithstanding any termination of this Agreement pursuant to the provisions
hereof, Buyer shall, within ten (10) Days after receipt, promptly provide Seller
with one legible copy of each report produced with respect to such inspections
and tests.

                                     -16-
<PAGE>

     Section 6.8.  Survival.
                   --------
     The provisions of this Article 6 shall survive for a period of two (2)
years after the Closing or any termination or cancellation of this Agreement.

                  ARTICLE 7.  REPRESENTATIONS AND WARRANTIES
                              ------------------------------
     Section 7.1.  Seller's Representations.
                   ------------------------
     Seller represents and warrants the following are true and correct as of the
Date of this Agreement and shall be true and correct at the Closing:

     (a)  Seller is a corporation duly organized, validly existing and in good
standing under the laws of the State of Delaware, is qualified to do business in
the state where the Property is located and has all necessary power, corporate
and otherwise, to execute and deliver this Agreement, to perform all obligations
hereunder, and that this Agreement and any other documents delivered in
connection therewith have been duly authorized by all requisite action on its
part, and that this Agreement is valid and legally binding on Seller.

     (b)  There is no litigation or proceeding pending or, to Seller's
Knowledge, threatened, which would interfere with Seller's ability to comply
with any of its obligations under this Agreement.

     (c)  Other than the Permitted Exceptions, there are no contracts which
cannot be terminated on thirty (30) Days notice or less or leases affecting the
Property which would be binding on Buyer or "run with the land" at Closing.
Seller shall not enter into any service, maintenance or management contract or
other agreement with respect to the Property which would be binding on Buyer or
"run with the Land" at Closing unless such contract or agreement can be
terminated at or before Closing or unless Buyer has approved such contract or
agreement.  To the extent any Contract relates to the Development Parcel, Seller
agrees to cancel, on or prior to the date of Closing, any of the Contracts
specified by Buyer in a written notice to Seller given prior to the date of
Closing.  To Seller's Knowledge, all Contracts relating to the Development

                                     -17-
<PAGE>

Parcel are assignable by Seller to Buyer and no Contract prohibits such
assignment or provides for any right, claim or cause of action against Buyer or
the Property as a result solely of such assignment. Seller has cancelled or will
cancel, effective as of the Closing, any agreement in the nature of a management
agreement relating to the Property or any service contract between Seller and
any party affiliated with or related to Seller. To the extent any of the
Contracts relate to services for the Building and/or the Building Parcel and
Seller desires for such Contracts to remain in place as the responsibility of
Seller under the Lucent Lease, Seller may keep such Contracts in place provided
that such Contracts do not impose any obligation upon Buyer, as the owner of the
Property.

     (d)  (i)  Any written notice of violations (other than written notice
of violations arising from the acts or omissions of Buyer or Buyer's employees,
agents, contractors, or representatives, which shall be Buyer's sole
responsibility) of any law, code, ordinance, regulation, rule, requirement,
order or restriction, issued by any municipal, county, state or federal
department or authority having jurisdiction over the Property ("Violations")
received by Seller prior to the Date of this Agreement shall be removed or
complied with by Seller.  Seller shall give Buyer notice of the receipt of
Violations promptly upon Seller's receipt thereof.  To Seller's Knowledge,
Exhibit F sets forth a true, correct and complete list of all Violations
received by Seller as of the Date of this Agreement.

          (ii) Seller shall use reasonable efforts to remove any Violations
specified in Section 7.1(d)(i) prior to Closing.  If any Violation occurs after
the Date of this Agreement due to the fault of Seller and the same is not cured
or removed by Seller at or prior to Closing then, if (a) the violation does not
consist of any violation of any environmental law and does not consist of the
presence, release or storage of Hazardous Materials on the Property, (b) the
cost of cure or removal is less than $50,000, (c) Seller gives assurances
reasonably acceptable to Buyer that removal or cure of such Violation can be
completed within one hundred eighty (180) Days after Closing, and (d) Seller
deposits with Buyer funds in an amount reasonably estimated by Buyer to pay the
cost of removal or cure (collectively, a "Curable Violation"), Buyer shall
accept such

                                     -18-
<PAGE>

Curable Violation and consummate the Closing in which event Seller shall be
obligated to use commercially reasonable efforts to cure the Curable Violation,
at its sole cost and expense, within such 180 day period after Closing. If
Seller shall fail to cure the Curable Violation as aforesaid, Buyer shall have
all rights and remedies at law or in equity, including the right of specific
performance. In the event of any other Violation which is due to the fault of
Seller, the same shall constitute a default by Seller hereunder in which event
Buyer shall have the remedies set forth in Section 4.5 (i) hereof. If such
Violation is not due to the fault of Seller and Seller has used reasonable
efforts to cure or remove it prior to Closing, then Buyer may, as its sole
alternate remedies, elect to accept title to the Property subject to the
Violation or elect to terminate this Agreement and to receive a refund of the
Down Payment. Buyer, and not Seller, shall be solely responsible for any
Violation involving the Property arising from the acts or omissions of Buyer or
Buyer's employees, agents, contractors, or representatives. Notwithstanding any
other provision of this Agreement to the contrary, the provisions of this
subparagraph d(ii) shall expressly survive for a period of two (2) years after
the Closing.

     (e)  There are no leases or real property licenses involving any of the
Property.

     (f)  Except as disclosed on Exhibit K (the "Contracts"), there are no other
agreements, licenses or contracts involving the Property. Seller has not
received any notice of termination or uncured notice of default under any of the
Contracts and, to Seller's Knowledge, there is no existing default under the
Contracts by any party thereto.

     (g)  There are no outstanding special assessments, or to Seller's
Knowledge, pending special assessments against the Property. The Property has
not been classified under any designation authorized by law to obtain a special
low ad valorem tax rate or to receive a reduction, abatement or deferment of ad
valorem taxes which will result in additional, "catch-up" or "roll-back" taxes
in the future in order to recover the amounts reduced, abated or deferred.

     (h)  Seller has not received any written notice that any condemnation or
other taking by eminent domain of any of the Property or any portion thereof or
access thereto has been

                                     -19-
<PAGE>

instituted and, to Seller's Knowledge, there are no pending or threatened
condemnation or eminent domain proceedings.

     (i)  Within three (3) Days after the Date of this Agreement, Seller shall
provide Buyer with complete and accurate copies of all warranties and guarantees
which are known by Seller to relate to the Property and which are in the
possession or control of Seller.  Seller has not received written notice of
Seller's violation of any of such warranties or guarantees.

     (j)  To Seller's Knowledge, Seller has obtained all licenses, permits and
approvals required to be obtained from all applicable governmental authorities
in order to construct and occupy the Building and operate the current business
on the Property.

     (k)  To Seller's Knowledge, there are no structural or other defects,
latent or otherwise, in the Building. To Seller's Knowledge, the electrical,
plumbing, HVAC, water, elevator, roofing, storm drainage and sanitary sewer
systems servicing the Building and the Property are in good condition and
working order. To Seller's Knowledge, the Building was constructed and installed
in accordance with the requirements and conditions of all governmental permits
applicable thereto and any private restrictive covenants affecting the Property.

     (l)  There are no employment, collective bargaining, or similar agreements
or arrangements between Seller and any of its employees or other parties which
will be binding on Buyer.

     (m)  Seller represents and warrants to Buyer that, to Seller's Knowledge,
except as disclosed in the Environmental Reports:  (i) no Hazardous Substances,
nor any other pollutants, toxic materials, or contaminants have been or shall
prior to Closing be discharged, disbursed, released, stored, treated, generated,
disposed of, or allowed to escape on the Property, except that Seller's use on
the Building Parcel of cleaning supplies, copying fluids, other office and
maintenance supplies and other substances normally and customarily used by, and
in amounts customarily used by, tenants occupying space for office and
administrative purposes similar to the Building shall not be a breach of this
representation and warranty, (ii) no asbestos or asbestos containing materials
have been installed, used, incorporated into, or disposed of on the Property,

                                     -20-
<PAGE>

(iii) no polychlorinated biphenyls are located on or in the Property, in the
form of electrical transformers, fluorescent light fixtures with ballasts,
cooling oils, or any other device or form, (iv) no underground storage tanks are
located on the Property or were located on the Property and subsequently removed
or filled, (v) no investigation, administrative order, consent order and
agreement, litigation, or settlement with respect to Hazardous Substances is
threatened or in existence with respect to the Property, and (vi) the Land has
not previously been used as a landfill, cemetery, or as a dump for garbage or
refuse.

     Seller makes no warranty or representation with regard to the presence or
absence of wetlands on the Property or with respect to Buyer's ability to
develop the Development Parcel for a particular use or size, type of
construction or density.

     Section 7.2.  Property to be Sold "As Is".
                   ---------------------------
          (a)  Buyer has not been induced by and has not relied upon any
representations, warranties or statements, whether express or implied, made by
Seller or any agent, employee, attorney or other representative of Seller or by
any broker or any other person representing or purporting to represent Seller,
which are not expressly set forth in this Agreement, whether or not any such
representations, warranties or statements were made in writing or orally,
including, without limitation, the following:  (i) the condition of the
Property, including without limitation the FF&E, or its compliance with laws,
ordinances or governmental regulations, or its suitability for Buyer's Intended
Use; (ii) zoning, building code, subdivision and environmental regulations which
may be applicable to the Property or any part thereof, or the impact, if any, of
such requirements on Buyer's Intended Use, expressly including Buyer's intention
to develop the Development Parcel; (iii) the assignability of licenses or
contractual or other rights or permits now held by Seller in regard to the
Property or any part thereof, if any; or (iv) any other matter or thing
affecting the Property or any part thereof, and it is hereby agreed by Buyer
that, except as expressly set forth herein, the Property is to be sold "AS IS"
as of the Date of this Agreement, subject to reasonable wear and tear occurring
after the Date of this Agreement until Closing and that Buyer has had an
opportunity to inspect the Property

                                     -21-
<PAGE>

     Section 7.3.  Buyer's Representations.
                   -----------------------

     Buyer represents and warrants the following are true and correct on the
Date of this Agreement and shall be true and correct at the Closing.

     (a)  Buyer has all necessary power to execute and deliver this Agreement,
to perform all obligations hereunder, and that this Agreement and any other
documents delivered in connection herewith is valid and legally binding on
Buyer.

     (b)  There is no litigation or proceeding pending which would interfere
with Buyer's ability to comply with any of its obligations under this Agreement.

     (c)  Buyer has been duly formed, organized or created under the laws of its
jurisdiction of formation, organization or creation and is in good standing or
existence under the laws of such jurisdiction and, if necessary, has qualified
to transact business in the State of North Carolina.

     (d)  Buyer expressly acknowledges that its ability to obtain capital or
financing is not a condition precedent to its obligation to close its purchase
of the Property in accordance with the terms of this Agreement.

     Section 7.4.  Survival of Representations and Warranties and No Third Party
                   -------------------------------------------------------------
                    Beneficiaries.
                    -------------

     The representations and warranties in Section 7.1 and 7.3 shall survive for
one (1) year after the Closing [except for clause 7.1(d)(ii), which shall
survive without limitation in the event of a Curable Violation as to which
Seller is obligated to cure following the Closing] and are personal to the
parties to this Agreement; none of such representations and warranties, nor any
other provisions of this Agreement, shall confer any rights or remedies on any
third parties, nor discharge any obligations of any third parties nor give any
third party any right of subrogation over or action against any party to this
Agreement.

                                     -22-
<PAGE>

                     ARTICLE 8.  ADJUSTMENTS AND EXPENSES
                                 ------------------------
     Section 8.1.  Seller's Expenses.
                   -----------------

     Seller shall pay at or prior to Closing the cost of the Title Report, the
Survey, all state, county and municipal real property transfer taxes and
documentary stamps incident to this sale, the first month's triple net rent
under the Lucent Lease prorated in accordance with the terms of the Lucent
Lease, one-half of all escrow fees, its attorneys' fees and the commission owed
the Listing Broker.   Seller's obligations under Section 8.1 shall survive the
expiration or termination of this Agreement.

     Section 8.2.  Buyer's Expenses.
                   ----------------

     Buyer shall pay at or prior to Closing the cost of the premium for the
title insurance policy for the Property, all document recordation fees, all
costs associated with Buyer's Due Diligence, one-half of all escrow fees, its
attorneys' and consultants' fees and the commission owed the Buyer's Broker.
Buyer's obligations under Section 8.2 shall survive the expiration or
termination of this Agreement.

     Section 8.3  Closing Adjustments.
                  -------------------

     The following are to be apportioned as of midnight of the Day immediately
prior to the Closing if and only to the extent that the same relate to the
Development Parcel, as Seller and Buyer acknowledge and agree that all such
obligations which relate to the Building Parcel are and shall remain the
responsibility of Seller, as tenant under the Lucent Lease, and proration
thereof is therefore waived:

     (a)  Taxes on the basis of the fiscal year for which assessed but prorated
on a calendar year basis;

                                     -23-
<PAGE>

     (b)  Water meter charges and sewer rents, and any other applicable public
utility charges on the basis of the fiscal year for which assessed or in
accordance with the amounts fixed with respect thereto by meter reading made as
of the Closing Date, as the case may be; and

     (c)  Property association dues and assessments, if applicable.

     Prepaid amounts under the Contracts which relate to the Building Parcel for
periods after the Closing Date shall not be prorated and shall be the
responsibility of Seller.

     Section 8.4.  Assessments.
                   -----------

     If, at Closing, the Property or any part thereof shall be affected by any
special assessments that are or may become payable in installments, then for the
purposes of this Agreement, if and to the extent that the same relate to the
Development Parcel, Seller shall be required to pay only those installments that
are due and payable on or prior to the Closing, and assessments during the year
of Closing shall be prorated between Buyer and Seller. Assessments coming due
after the Closing Date relating to the Development Parcel shall be paid by
Buyer. All assessments relating to the Building Parcel shall be paid by Seller.

     Section 8.5.  Tax Adjustment.
                   --------------
     (a)  If the Closing shall occur before a tax rate is fixed, the
apportionment of taxes shall be based upon the tax rate for the next preceding
year applied to the latest assessed valuation, and Buyer and Seller, at the
request of either party, agree to reapportion said taxes as soon thereafter as
the tax rate is fixed.

     (b)  Seller shall be entitled to the benefits of any refunds for any tax
years prior to Closing, and shall pay all expenses for any administrative or
judicial proceedings brought at any time to secure such refunds.  Buyer shall
execute all necessary documents and consents reasonably required by Seller in
any such proceedings without cost or expense to Seller.

     (c)  Any refund and associated expenses relating to the tax year during
which Closing occurs shall be apportioned between Buyer and Seller based upon
the Closing Date.  Unless otherwise agreed between Buyer and Seller, if Buyer
owns the Property for fifty percent (50%) or

                                     -24-
<PAGE>

more of the tax year Buyer shall control any proceedings brought to secure such
tax refund. In all other cases, Seller shall control such proceedings.

     (d)  The provisions of this Section 8.5 shall expressly survive for a
period of two (2) years after the Closing.

                      ARTICLE 9.  FIRE AND OTHER CASUALTY
                                  -----------------------

     Section 9.1.  Seller's Obligation to Insure.
                   -----------------------------

     From the Date of this Agreement until Closing, Seller shall maintain fire
and extended coverage insurance upon the Property in an amount not less than the
full replacement value of the Building and business interruption insurance for a
period of twelve (12) months and shall give a certificate of insurance to Buyer
before the end of the Due Diligence Period evidencing such coverages.

     Section 9.2.  Buyer's Elections Upon Casualty.
                   -------------------------------

     In the event of any damage to the Property by reason of fire or other
casualty occurring prior to the Closing (a "Casualty"), Seller shall give Buyer
immediate notice thereof.  If the cost of repairing the Building necessitated by
the Casualty exceeds One Million Dollars ($1,000,000.00), then by written notice
given within thirty (30) days after notice of the Casualty is received, either
party may elect to terminate this Agreement, in which event the Down Payment
shall be refunded to Buyer.  In the event that neither Seller nor Buyer elect to
terminate the Agreement as provided above, Buyer shall close upon the Property
and cause the Building to be repaired, in which event the terms of the Lucent
Lease shall control with respect to restoration, except as set forth in 9.3
below.  The date of Closing shall be extended, as necessary, in order to give
Buyer a thirty (30) day period in which to make its election.  If the cost of
repairing the Building necessitated by the Casualty is One Million Dollars
($1,000,000.00) or less, Buyer shall not have the right to terminate this
Agreement, and Buyer shall cause the Building to be repaired,

                                     -25-
<PAGE>

in which event the terms of the Lucent Lease shall control with respect to
restoration, except as set forth in 9.3 below.

     Section 9.3.  Buyer's Election to Repair.
                   --------------------------

     If Buyer elects to repair the Building or if the Buyer is required to cause
the Building to be repaired pursuant to the last sentence of Section 9.2, Buyer
shall be obligated to complete the repair only to the extent the insurance
proceeds received from Seller's insurance company, plus Seller's deductible, are
adequate to cover the cost of such repair.  Seller shall pay to Buyer all
proceeds of its insurance for the purpose of the repair, together with the
amount of Seller's deductible (which deductible shall be credited to Buyer at
Closing).   If the funds made available to Buyer for repair as provided above
are not sufficient to repair the Building to its condition before the Casualty,
Seller shall be obligated to make available to Buyer sufficient funds to pay the
difference between the cost of such repair and insurance proceeds plus Seller's
deductible.  Further, rent shall not abate under the Lucent Lease during any
such restoration period.  The provisions of this Section 9.3 shall expressly
survive the Closing without limitation in the event of a Casualty and shall
supercede and override any contrary provisions of the Lucent Lease.

     Section 9.4.  Purchase Price Unaffected.
                   -------------------------

     Notwithstanding the occurrence of any Casualty and regardless of the extent
thereof, if Buyer elects to repair the Building, the sale contemplated by this
Agreement shall be consummated at the Closing without abatement of the Purchase
Price.

     Section 9.5.  The provisions of this Article 9 shall expressly survive the
Closing in the event a Casualty occurs and the purchase and sale is consummated
as contemplated herein.

                           ARTICLE 10.  CONDEMNATION
                                        ------------

     Section 10.1.  Taking of Less than Substantial Part.
                    ------------------------------------

     If, prior to the Closing, a Taking which does not involve any Substantial
Part of the Building or the Property shall occur or be threatened, the Closing
shall take place without any abatement of the Purchase Price, and neither party
shall have any right to terminate its

                                     -26-
<PAGE>

obligations hereunder by reason thereof. At the Closing, Seller shall assign to
Buyer all Seller's rights to awards in respect to such Taking. Seller agrees
that it will not settle or compromise any such award without the written consent
of Buyer, which shall not be unreasonably withheld, conditioned or delayed.

     Section 10.2.  Taking of Substantial Part.
                    --------------------------

     If, prior to the Closing, a Taking of any Substantial Part of the Building
or the Property shall occur or be threatened, Buyer may terminate this Agreement
by notice to Seller given not later than thirty (30) Days after the date on
which Seller notifies Buyer of such Taking or threatened Taking.  Further, if
the Taking affects a Substantial Part of the Building Parcel and Seller's
ability to continue to operate for business would be materially and adversely
affected thereby, Seller may elect to terminate this Agreement.  If either party
so elects to terminate this Agreement, Seller shall return the Down Payment to
Buyer, with interest earned thereon, and neither party shall have any further
liability to the other, except as expressly reserved in this Agreement.  If
neither party elects to terminate this Agreement as permitted above, the Closing
shall take place on the terms specified in Section 10.1.

                             ARTICLE 11.  BROKERS
                                          -------
     Section 11.1.  Brokers.
                    -------

     Buyer and Seller each represents to the other that no broker or similar
party has been involved in bringing about or negotiating this transaction except
Buyer's Broker and the Listing Broker.  Seller agrees to pay a commission to the
Listing Broker in accordance with its separate written agreement with the
Listing Broker, and Buyer agrees to pay any commission due Buyer's Broker.
Buyer agrees to Indemnify Lucent and Affiliates for matters arising out of the
breach of the foregoing representation by Buyer, and from any claim by any
person, other than the Listing Broker, that they have dealt with Buyer in
connection with this transaction.  Seller agrees to Indemnify Buyer for matters
arising out of the breach of the foregoing representation by Seller

                                     -27-
<PAGE>

and from any claim by any person, other than Buyer's Broker, that they have
dealt with Seller in connection with this transaction. The provisions of this
Section 11.1 shall survive the Closing or any termination or cancellation of
this Agreement.

                 ARTICLE 12.  CONFIDENTIALITY AND USE OF NAME
                              -------------------------------

     Section 12.1.  Confidentiality.
                    ---------------

     Any specifications, drawings, sketches, diagrams, computer or other
apparatus programs, manuals, technical, business or tenant information or
Property Records or data, including methods and concepts set forth or utilized
therein ("Information"), if any, which either party may furnish hereunder or in
contemplation hereof shall be held in confidence by the other party and shall
not be published or otherwise disclosed (except to such party's attorneys,
accountants, consultants, employees, investors, lenders, partners, shareholders
and tenants, who shall be instructed as to the confidential nature of the
Information) without Buyer's and Seller's written permission except as
hereinafter provided.  Unless such Information was previously known to either
party free of any obligation to accept it in confidence or has been or is
subsequently made public by Buyer or Seller to a third party, it shall be kept
in confidence by both parties and may be used solely in connection with the
transaction contemplated hereunder (including disclosure as permitted in the
preceding sentence) and may not be used for other purposes except upon such
terms as may be agreed upon in writing between Buyer and Seller.

     Section 12.2.  Use of Lucent Name.
                    ------------------

     Buyer acknowledges that Seller's name and logo, as well as the name "Bell
Laboratories" and its logo, constitute Seller's intellectual property. Buyer
will not use such names or logos in a manner that will violate Seller's
intellectual property rights. Buyer may not use the names "Lucent" and "Bell
Laboratories", except in Buyer's materials that identify Seller as the occupant
of the Building on the Property and Buyer may give general information about
Seller which is public knowledge (for example, information contained in Seller's
annual report) but no such

                                     -28-
<PAGE>

materials shall imply an endorsement or sponsorship by Seller or an affiliation
between Seller and Buyer.

     Section 12.3.  Press Release.
                    -------------
     Prior to the Closing, Buyer shall not make any public announcement or press
release concerning this transaction.

     Section 12.4.  Survival of Seller's and Buyer's Obligations.
                    --------------------------------------------

     Seller's and Buyer's obligations under this Article 12 shall survive the
Closing or any termination or cancellation of this Agreement.

                         ARTICLE 13.  ATTORNEYS' FEES
                                      ---------------
     Section 13.1.  Attorneys' Fees.
                    ---------------

     The prevailing party to any action or proceeding between Buyer and Seller
with respect to the interpretation of or breach of this Agreement or the
transaction contemplated hereunder shall be entitled to have and recover all
reasonable costs, expenses, and attorneys' fees, expert witness fees and other
costs of defense incurred in connection therewith.  The provisions of this
Section 13.1 shall expressly survive the Closing or any termination or
cancellation of this Agreement.

                    ARTICLE 14.  RECORDATION AND ASSIGNMENT
                                 --------------------------

     Section 14.1.  Recordation and Assignment.
                    --------------------------

     This Agreement shall not be recorded.  This Agreement is personal to Buyer
and shall not be assigned by Buyer except to an affiliate of Buyer or an
affiliate of Wells Capital, Inc. without the consent of Seller, which consent
shall not be  unreasonably withheld.  No assignment by Buyer of its rights and
obligations under this Agreement shall release Buyer from its obligations
hereunder.

                                     -29-
<PAGE>

                        ARTICLE 15.  MERGER OF CONTRACT
                                     ------------------

     Section 15.1.  Merger.
                    ------

     The acceptance of a deed by Buyer shall be deemed to be a full performance
and discharge of every agreement and obligation on the part of Seller to be
performed pursuant to the provisions of this Agreement, except those in the
Lucent Lease and those, which are herein specifically stated to survive the
Closing or any termination or cancellation of this Agreement.

                          ARTICLE 16.  APPLICABLE LAW
                                       --------------

     Section 16.1.  Applicable Law.
                    --------------

     This Agreement shall be governed by the laws of the state where the
Property is located.  Buyer and Seller consent to be subject to the jurisdiction
of the courts of such State.

                     ARTICLE 17.  [Intentionally Deleted]

                                     -30-
<PAGE>

                      ARTICLE 18.  EXCHANGE OF PROPERTIES
                                   ----------------------

     Section 18.1.  Exchange of Properties.
                    ----------------------

     (a)  Notwithstanding any terms in the Agreement to the contrary, Seller
shall have the right to exchange the Property to qualify as a tax-deferred
exchange under the provisions of Section 1031 of the Internal Revenue Code of
1986, as amended (the "Code"), and the Treasury Regulations thereunder.

     (b)  Buyer agrees to cooperate with Seller with respect to any tax-deferred
exchange pursuant to the provisions of Section 1031 of the Code and the Treasury
Regulations thereunder, provided that (i) Buyer incurs no additional cost or
expense attributable to the exchange, including reasonable attorneys' fees, deed
excise taxes and recording fees; (ii) Seller agrees to indemnify and hold Buyer
harmless from and against all liability arising out of its cooperation in
effecting the exchange as requested by Seller; and (c) Buyer shall have no
personal liability with respect to the deferred exchange and shall not be
required to purchase any replacement property (the "Replacement Property").

     (c)  Seller and Buyer acknowledge that Buyer shall not be deemed Seller's
agent in connection with said exchange. Seller and Buyer further acknowledge
that all agreements in connection with performing the Exchange shall be prepared
at Seller's expense by Seller's counsel.

     (d)  Seller shall have the right to transfer its interests under the
Agreement to a qualified intermediary (the "Intermediary") in accordance with
the provisions of Section 1031 of the Code and the Treasury Regulations
thereunder, and, as a result of that transfer, the Intermediary will acquire an
equitable interest in the title to the Property.  At the request of Seller,
Buyer agrees, within five (5) days after request, to enter into an Assignment
Agreement in the form attached as Exhibit H.

                                     -31-
<PAGE>

                          ARTICLE 19.  MISCELLANEOUS
                                       -------------
     Section 19.1.  Entire Agreement.
                    ----------------

     This Agreement constitutes the entire agreement between the parties with
respect to the subject matter hereof and supersedes all prior written or oral
understandings of the parties, all of which are merged herein.

     Section 19.2.  All Amendments in Writing.
                    -------------------------

     This Agreement may not be modified or changed in any respect except in the
event of a written amendment executed by both parties.

     Section 19.3.  Invalidity.
                    ----------

     If any of the terms or conditions of this Agreement are determined to be
invalid, void or illegal, such determination shall in no way affect or
invalidate any of the other provisions of this Agreement.

     Section 19.4.  Counterparts.
                    -------------

     This Agreement may be signed in counterparts and each such counterpart
shall be deemed to be an original.  Any signature, witness's signature, or both,
appearing on a counterpart of this Agreement shall be deemed to appear on all
other counterparts of this Agreement.  This Agreement shall only be and become
effective upon its unconditional delivery by and between the parties hereto.

     Section 19.5.  Origination Of Document
                    -----------------------

     This Agreement has been negotiated by Seller and Buyer, and this Agreement,
together with all of the terms and provisions hereof, shall not be deemed to
have been prepared by either Seller or Buyer, but by both equally.

                                     -32-
<PAGE>

                             ARTICLE 20.  NOTICES
                                          -------

     Section 20.1.  Notices.
                    -------

     Except as otherwise specified herein, all notices, demands, requests,
consents, approvals and other communications (collectively, "Notices") required
or permitted to be given hereunder must be in writing, and must be given or made
by personal delivery, overnight delivery service or by mailing the same by
certified, registered or express mail, or express delivery service, postage
prepaid, return receipt requested, addressed to the party to be so notified, as
follows:

If to Seller:         LUCENT TECHNOLOGIES INC.
                      475 South Street
                      Morristown, New Jersey  07962
                      Attn: District Manager, U.S. Transactions
                      Telecopy Number: 973-606-3078
with a copy
to:                   LUCENT TECHNOLOGIES INC.
                      475 South Street
                      Morristown, New Jersey  07962
                      Attn: Corporate Counsel, Real Estate
                      Telecopy Number: 973-606-3336

                      LUCENT TECHNOLOGIES INC.
                      2400 SW 145/th/ Avenue, Room IS021
                      Miramar, Florida  33027
                      Attn: Transaction Manager
                      Telecopy Number: 954-885-3855

If to Buyer:          WELLS OPERATING PARTNERSHIP, L.P.
                      6200 The Corners Parkway
                      Suite 250
                      Atlanta, Georgia 30082
                      Attn: Mr. Michael Berndt
                      Telecopy Number: 770-200-8199

with a copy
to:                   Maureen Theresa Callahan, Esq.
                      Troutman Sanders LLP
                      600 Peachtree Street, NE
                      Suite 5200
                      Atlanta, Georgia 30308-2216
                      Telecopy Number: 404-962-6520.

                                     -33-
<PAGE>

     Any Notice shall be deemed given on receipt or three (3) Business Days
after the mailing thereof, whichever occurs first. Either party may change the
addresses for Notices to such party by mailing a Notice.  Notices may be given
by the attorneys for the parties.

     IN WITNESS WHEREOF, Seller and Buyer have executed this Agreement as of the
date first above written.

                                  SELLER:

WITNESS:                          LUCENT TECHNOLOGIES INC.,
                                  a Delaware corporation

__________________________        By: /s/ Timothy Webb
                                     -------------------------------------------
                                  Name:  Timothy Webb
                                  Title: Director, Asset Management
                                  Date of Execution: September __, 2001

                                  BUYER:
WITNESS:
                                  WELLS OPERATING PARTNERSHIP, L.P.,
                                  a Delaware limited partnership

/s/ Brent E. Jenkins              By:  Wells Real Estate Investment Trust, Inc.,
--------------------------             a Maryland corporation, general partner
Brent E. Jenkins
Senior Manager, Global Real            By:    /s/ Douglas P. Williams
Estate Transactions                       -----------------------------------
                                       Name:  Douglas P. Williams
                                            ---------------------------------
                                       Title: Executive Vice President
                                             --------------------------------

                               Date of Execution: September 19, 2001

                                     -34-
<PAGE>

                                   EXHIBIT A
                                   ---------

                                   The Land
                                   --------

     Those certain lots of land in Cary, Wake County, North Carolina known as
Lot-B-I and Lot-1-B-II as shown plat of survey entitled "Subdivision Map:
LUCENT TECHNOLOGIES Lot 1-B Triangle Medical & Surgical Associates, LLC dated
02-23-99 prepared by Sullivan Surveying recorded in Book of Maps 1999, Page
1059, Wake County, North Carolina Registry.

     The above description shall be revised at or before Closing in accordance
with a recombination plat changing the property line between the above lots to
be recorded at or before Closing.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00030-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00030-of-00352.parquet"}]]