Document:

Bank of America Lease Agreement

 EXHIBIT 10.125 
  
 BANK OF AMERICA LEASE AGREEMENT FOR BANK OF AMERICA ORANGE COUNTY BUILDING 

 LEASE 
  
 Between 
  
 BANK OF AMERICA NT & SA 
  
 as Tenant 
  
 and 
  
 PREFCO XXI LIMITED PARTNERSHIP 
  
 as Landlord 
  
 Dated as of June 26, 1997 

 TABLE OF CONTENTS 
  

					
	 	 	 	  	Page

			
	 1.
	 	 DEFINITIONS
	  	1
			
	 2.
	 	 DEMISE; TITLE; CONDITION
	  	5
			
	 3.
	 	 TERM
	  	6
			
	 4.
	 	 RENT
	  	8
			
	 5.
	 	 USE
	  	9
			
	 6.
	 	 NET LEASE; NONTERMINABILITY
	  	9
			
	 7.
	 	 TAXES AND OTHER CHARGES; LAW AND AGREEMENTS
	  	10
			
	 8.
	 	 LIENS
	  	12
			
	 9.
	 	 INDEMNIFICATION; FEES AND EXPENSES
	  	13
			
	 10.
	 	 ENVIRONMENTAL MATTERS
	  	14
			
	 11.
	 	 MAINTENANCE AND REPAIR
	  	16
			
	 12.
	 	 ALTERATIONS, ADDITIONS AND CONSTRUCTION BY TENANT
	  	17
			
	 13.
	 	 CONDEMNATION AND CASUALTY
	  	21
			
	 14.
	 	 INSURANCE
	  	25
			
	 15.
	 	 FINANCIAL STATEMENTS
	  	27
			
	 16.
	 	 RIGHT OF FIRST REFUSAL
	  	28
			
	 17.
	 	 PURCHASE PROCEDURE
	  	29
			
	 18.
	 	 INVESTMENT CREDIT
	  	30
			
	 19.
	 	 QUIET ENJOYMENT
	  	30
			
	 20.
	 	 TERMINATION
	  	30
			
	 21.
	 	 SUBLETTING; ASSIGNMENT
	  	30

					
			
	 22.
	 	 ADVANCES BY LANDLORD
	  	33
			
	 23.
	 	 CONDITIONAL LIMITATIONS—EVENTS OF DEFAULT AND REMEDIES
	  	33
			
	 24.
	 	 NOTICES
	  	37
			
	 25.
	 	 ESTOPPEL CERTIFICATES
	  	38
			
	 26.
	 	 NO MERGER
	  	38
			
	 27.
	 	 SURRENDER; HOLDOVER
	  	38
			
	 28.
	 	 SEPARABILITY
	  	39
			
	 29.
	 	 BINDING EFFECT; MERGER, CONSOLIDATION AND DISPOSAL OF ASSETS
	  	39
			
	 30.
	 	 SHOWING
	  	40
			
	 31.
	 	 NATURE OF LANDLORD’S OBLIGATIONS
	  	40
			
	 32.
	 	 GRANTING OF EASEMENTS
	  	40
			
	 33.
	 	 RECORDING OF LEASE
	  	41
			
	 34.
	 	 RELATIONSHIP OF PARTIES
	  	41
			
	 35.
	 	 ACCESS TO LEASED PROPERTY
	  	41
			
	 36.
	 	 BROKER
	  	42
			
	 37.
	 	 TRUE LEASE
	  	42
			
	 38.
	 	 ARBITRATION OF DISPUTES
	  	42
			
	 39.
	 	 MISCELLANEOUS
	  	43
			
	 40.
	 	 REASONABLENESS
	  	44
			
	 41.
	 	 ERISA
	  	44

  

 LEASE 
  
 THIS LEASE, dated as of June 26, 1997, between PREFCO XXI LIMITED PARTNERSHIP (“Landlord”), a Connecticut limited partnership having an office
at c/o Pitney Bowes Credit Corporation 27 Waterview Drive, Shelton, Connecticut 06484 BANK OF AMERICA NT & SA, a national banking association (“Tenant”), having an address for purposes hereof at 600 Wilshire Boulevard, 2nd Floor, Los Angeles, California 90017. 
  

IN CONSIDERATION of the mutual covenants and agreements herein contained and intending to be legally bound, Landlord and Tenant covenant and agree as
follows: 
  
 1. DEFINITIONS: 
  
 As used in this Lease the following terms have the meanings set forth below:

  
 “Additional Improvements” shall have the meaning
given to that term in paragraph (a) of Article 12 hereof. 
  
 “Additional Rent” shall have the meaning given to that term in paragraph (e) of Article 4 hereof 
  
 “Alteration Cost Threshold” shall have the meaning given to that term in paragraph (a) of Article 12 hereof. 
  
 “Appraisal Procedure” shall mean the following procedure for
determining Fair Market Rental: The Tenant and the Landlord shall fail to choose an Appraiser within twenty (20) days after notice from either party of the necessity to select an Appraiser, then the Appraiser shall be selected by the American
Arbitration Association. Within fifteen (15) days following the appointment of the Appraiser, each party shall submit to the Appraiser its determination of the Fair Market Rental. The Appraiser shall within thirty (30) days determination of the Fair
Market Rental. The Appraiser shall within (30) days following the submission of such determinations render its decision by selecting the determination of Fair Market Rental submitted by either party which, in the judge of the Appraiser, most nearly
reflects the Fair Market Rental. It is expressly understood that the Appraiser shall have no power or authority to select any Fair Market Rental other than the Fair Market Rental submitted by the Landlord or the Tenant, and the decision of the
Appraiser shall be final and binding upon the parties hereto. The fees and expenses of the Appraiser shall be divided equally between the Tenant and the Landlord. The Appraisal Procedure shall commence at least three (3) months prior to, and shall
be completed by the time when the Tenant is required to provide Landlord with its notice of extension pursuant to Section 3(d)(1) hereof. 
  
 “Appraiser” shall mean an individual having not less than five years current experience appraising commercial properties of a nature and type
similar to that of the Leased Property in the geographic areas where licenses are required and who either (i) holds an MAI designation conferred by the American Institute of Real Estate Appraisers and is in good standing as an independent member
thereof, or (ii) holds the Senior Member designation conferred by the 
  

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 American Society of Appraisers and is in good standing as an independent member thereof, or any organizations succeeding
thereto of similarly recognized national standing. 
  
 “Bankruptcy Act” shall mean Title 11 of the United States Code and any other Federal insolvency or similar law, now or hereafter in effect. 
  

“Base Price Index” shall mean the CPI for May, 1997. 
  

“Basic Rent” shall mean the base rental payable hereunder for the lease of the Leased Property for the Initial Term, Landlord Extended Term
and any Extended Term, as applicable as provided on Schedule B annexed hereto. 
  
 “Business Day” shall mean any day except Saturdays, Sundays and the days observed by state chartered banks and national banks in the states of Connecticut, New York, Utah or California as public holidays.

  
 “casualty” shall have the meaning given to that term
in paragraph (a) of Article 13 hereof. 
  
 “CPI” shall
mean the Consumer Price Index Published by the Bureau of Labor Statistics of the United States Department of Labor for “All Urban Consumers” in the table entitled “Consumer Price Index: United States City Average”, or any
successor index thereto, All Items (1982-84=100) for the month in question. In the event that the CPI is converted to a different standard reference base or otherwise revised, the determination of the Alteration Cost Threshold to be made pursuant to
Article 12(a) hereof or pursuant to any other provisions of this Lease shall be made with the use of such conversion factor, formula or table for converting the CPI as may be published by the Bureau of Labor Statistics or, if not so published, then
with the use of such conversion factor, formula or table as may be published by Prentice-Hall, Inc. or any other nationally recognized publisher of similar statistical information, or if a conversion factor, formula or table is unavailable, Landlord
and Tenant shall agree on another method to adjust the CPI, or any successor thereto, to the figure that would have been arrived at had the manner of computing the CPI in effect on the date of this Lease not been altered. If Landlord and Tenant fail
to agree upon a conversion factor, formula, table or other method, the matter will be submitted for resolution by a nationally recognized firm of certified public accountants selected by Landlord and approved by Tenant, which approval shall not be
unreasonably withheld, at Tenant’s expense. 
  
 “Commencement Date” shall mean the date of this lease as first set forth above. 
  
 “condemnation” shall have the meaning given to that term in paragraph (a) of Article 13 hereof. 
  
 “Depository” shall have the meaning given to that term in paragraph
(d) of Article 13 hereof. 
  
 “Environmental Laws” shall
mean and include the Resource Conservation and Recovery Act, as amended by the Hazardous and Solid Waste Amendments of 1984, the Comprehensive Environmental Response, Compensation and Liability Act, as amended by the Superfund Amendments and
Reauthorization Act of 1986, the Hazardous Materials Transportation Act, the Toxic Substances Control Act, Clean Air Act, the Federal Insecticide, 
  

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 Fungicide and Rodenticide Act, the Clean Water Act and all other applicable federal, state and local environmental laws
and common laws, ordinances, rules, requirements, and regulations, as any of the foregoing may have been or may be from time to time amended, supplemented or supplanted, and any other federal, state or local laws, ordinances, rules, requirements and
regulations, now or hereafter existing relating to regulation or control of Hazardous Substances. 
  
 “Environmental Report” means, collectively, the reports relating to the presences and condition of any Hazardous Substances on the Leased
Property as described on Schedule E annexed hereto. 
  
 “Equipment” shall have the meaning given to that term in Article 2 hereof. 
  
 “Event of Default” shall have the meaning given that term in paragraph (a) of Article 23 hereof. 
  
 “Extended Term” shall have the meaning given to that term in Article 3 hereof. 
  
 “Fair Market Rental” shall mean the fair market rental value that would be obtained in an arm’s-length
transaction between an informed and willing lessee and as informed and willing lessor, in either case under no compulsion to lease, and neither of which is related to the Landlord or the or the Tenant, for the lease of the Leased Property on the
terms set forth, or referred to, in this Lease. Such fair market rental value shall be calculated as the value for the use of the Leased Property, to be lease in place on the Land, assuming, in the determination of such fair market rental value,
that the Leased Property has been maintained in accordance with the provisions of this Lease, and that the lessee is a tenant in possession of the Leased Property at the time of renewal which is renewing its net lease and would be contemplating
retention of the Leased Property with use and retention of all special features of the Leased Property attendant to the Tenant’s operations being considered in the rental rate. Fair Market Rental shall be determined prior to the commencement of
each Extended Term in accordance with the Appraisal Procedure and will remain constant throughout the applicable Extended Term. Fair Market Rental will be paid monthly in arrears with a level amount for each month within the applicable Extended
Term. 
  
 “Hazardous Substance” shall mean and include
any, each and all substances or materials regulated pursuant to any Environmental Laws, including, but not limited to, any such substance, emission or material now or hereafter defined as or deemed to be a regulated substance, hazardous substance,
toxic substance, pesticide, hazardous waste or any similar or like classification or categorization, there under, including, without limitation, petroleum and petroleum products, radioactive materials, and asbestos. 
  
 “Impositions” shall have the meaning given to that term in
paragraph (a) of Article 7 hereof. 
  
 “Improvements”
shall have the meaning given to that term in Article 2 hereof. 
  
 “Indemnitees” shall have the meaning given to that term in Article 6 hereof. 
  
 “Initial Term” shall have the meaning given to that term in Article 3 hereof. 
  
 “Installment Payment Date” shall have the meaning given to that term in paragraph (b) of Article 4 hereof.

  

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 “Institutional Investor” shall mean a corporate finance company, a securities company, a bank,
trust company or savings and loan association, an insurance company, a collective investment fund, endowment, foundation, educational institution, real estate investment trust or any person organized under the laws of the United States or any state
or political subdivision thereof which is generally recognized in the financing or real estate field as an institutional investor or which owns real properties which are net leased to major United States corporations, and which has a net worth of
not less than $50 million. 
  
 “Land” shall have the
meaning given to that term in Article 2 hereof. 
  
 “Landlord
Extended Term” shall mean the extension of the term of this Lease beginning on the expiration date of the Initial Term for one (1) additional term of three (3) years pursuant to Landlord’s option to extend as set forth in Article 3 hereof.

  
 “Landlord’s mortgagee” shall mean the holder of
a first mortgage or deed of trust given by Landlord which encumbers Landlord’s interest in the Leased Property, and the holders from time to time of the debt secured by such mortgage. 
  
 “Landlord’s Yield” means Landlord’s nominal after-tax
book yield and total after-tax cash flow per dollar of equity, on the basis of the same assumptions originally used by Landlord in computing Landlord’s Yield as of the Commencement Date. In the event that Landlord and Tenant are unable to agree
to the amount of any adjustment of Basic Rent necessary to preserve Landlord’s Yield hereunder, the matter will be submitted for resolution by a nationally recognized firm of certified public accountants selected by Landlord and reasonably
approved by Tenant. 
  
 “Leased Property” shall have the
meaning given to that term in Article 2 hereof. 
  
 “Material
Event of Default” shall mean those Events of Default set forth in paragraphs (a)(i), (iii), (iv), (v), (vi) and (vii) of Article 23 hereof. 
  
 “Net Award” shall mean the entire award, compensation, insurance proceeds or other payment if any, on account of any condemnation or casualty,
less any expenses (including, but not limited to, reasonable attorneys’ fees and expenses) actually incurred by Landlord in collecting such award, compensation, insurance proceeds or other payment and not paid (or reimbursed to Landlord) by
Tenant pursuant to Article 13 hereof. 
  
 “Overdue Interest
Rate” shall have the meaning given to that term in Article 22 hereof. 
  
 “Permitted Encumbrances” shall mean, with respect to the Leased Property: (a) rights reserved to or vested in any public authority by the terms of any right, power, franchise, grant, license, permit or
provision of law affecting the Leased Property, to (i) terminate such right, power, franchise, licensed or permit, provided that the exercise of such right would not materially impair the use of the Leased Property or materially and adversely affect
the value thereof, or (iii) purchase, condemn, appropriate or recapture, or designate a purchaser of the Leased Property or any portion thereof; (b) any liens there on for taxes, assessments, fees and other governmental and similar charges referred
to in Article 7 of this Lease, and any liens of mechanics, materialmen and laborers for work or services performed or material furnished in connection with the Leased Property, in case which are not due and payable, or which are not delinquent to
the extent that penalties for nonpayment may assessed, or the amount or validity of which are being contested as permitted by paragraph (g) of Article 7 hereof; (c) easements, rights-of-way, servitudes, restrictions 
  

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 and other minor defects, encumbrances and irregularities in the title to the Leased Property which do not materially
impair the use of the Leased Property or materially and adversely affect the value thereof; )d) rights reserved to or vested in any public authority to control or regulate or use the Leased Property, which rights do not materially impair the use of
the Leased Property or materially and adversely affect the value there of; (e) any mortgage affecting Landlord’s interest in the Leased Property and any assignment of this Lease as further security for the note or notes secured thereby or other
liens created by Landlord; and (f) all maters affecting title existing on the date of this Lease as set forth in Schedule D hereto. 
  
 “Property” shall have the meaning given to it in Article 2 hereof. 
  
 “Tenant’s Actual Knowledge” shall mean the actual knowledge of Mr. Conrad Anderson, Mr. Spiro Kailas,
Mr. Karl D. Kellogg and their respective successors, all of whom, the Tenant hereby represents and warrants, are the three individuals who in their respective capacities as employees of the Tenant are actively engaged in the
management of the Leased Property and are the three employees most intimately familiar with the condition and operation of the Leased Property. 
  
 “Tenant’s Equipment” shall have the meaning given to that term in Article 2 hereof. 
  
 “Tenant’s Loss” shall have the meaning given that term in
paragraph (a) of Article 13 hereof. 
  
 “Term of this
Lease” shall mean the Initial Term as the same may be extended by any Landlord Extended Term or Extended Term, as applicable. 
  
 “Termination Date” shall have the meaning given to that term in paragraph (c) of Article 13 hereof. 
  
 “Termination Value” shall have the meaning given to that term in
paragraph (c) of Article 13 hereof. 
  
 “Third Party
Offer” shall have the meaning given to that term in Article 16 hereof. 
  
 2. DEMISE; TITLE; CONDITION: 
  
 Landlord hereby demises, leases and rents to Tenant, and Tenant hereby leases, hires and rents from Landlord, upon and subject to the terms, covenants, conditions and limitations hereinafter set forth, for the Term of this Lease, those
certain parcels of land (the “Land”) described in Schedule A annexed hereto, together with all buildings, structures and improvements, (the “Improvements”) thereon and all easements and a appurtenances thereto, and all
other facilities, fixtures, machinery, apparatus, installations, equipment and other property (with the exception of computer systems, shelving, signs, surrounds, modular furniture, furniture, trade fixtures, machinery, two gas turbines and two
steam turbines (identified on Schedule A-1), equipment and other property of Tenant now or hereafter used or useful in connection with Tenant’s business, collectively, “Tenant’s Equipment”) used in connection with the maintenance
and operation of the Improvements (including, but not limited to, all heating, ventilating, air conditioning, plumbing, and electrical equipment, lighting and lighting equipment, elevators and escalators, security systems, utility lines, refuse
facilities, waste removal systems, generators, one gas turbine used for emergency back-up power (as identified on Schedule A-1), transformers, cooling towers, 
  

 5 

 maintenance depots, power plants, storage tanks, fire pumps, fire control, sprinkler and stand pipe systems, emergency
power and automatic transfer switches, air conditioning units, building and site controls, sewerage facilities, and all associated piping, wiring, conduits, feeders, tracks, pluming, and drainage facilities, but excluding tangible personal property
of negligible value used by Tenant in connection with the maintenance and operation of the Improvements such as janitorial supplies and cleaning equipment) now or hereafter located on the Land and used or procured for use in connection with the
Improvements (collectively the “Equipment”) (the Land, the Improvements and the Equipment are hereinafter referred to individually or collectively from time to time as the context requires as the “Leased Property”). 

 
 The Leased Property is demised and let in its present condition without
representation or warranty by Landlord, subject to (a) the rights of any parties in possession thereof, (b) the state of the title thereto existing at the time Landlord acquired title to the Leased Property, (c) any state of facts which an accurate
survey or physical inspection might show, (d) all applicable laws, rules, regulations ordinances and restrictions now in effect, and (e) any violations of such laws, rules, regulations, ordinances and restrictions which may exist at the commencement
of the Term of this Lease. Tenant has examined the Leased Property, and Landlord’s title thereto, and has found the same to be satisfactory. 
  
 This Lease as now existing and hereafter amended, supplemented or otherwise modified is and shall be prior and superior to all mortgages, deeds of trust
and security agreements which now or hereafter affect all or any portion of the Leased Property, and to all renewals, modifications, consolidations, replacements, and extensions thereof. This clause shall be self-operative and no further instrument
of superiority shall be required. Landlord agrees that it shall not make any additions, changes or modifications to the Leased Property during the term of the Lease. 
  
 Tenant acknowledges that Tenant is fully familiar with the physical condition of the Leased Property and that Landlord makes
no representation or warranty, express or implied, with respect to same or the location, use, description, design, merchantability, fitness for use for a particular purpose, condition or durability purpose, condition or durability hereof, or as to
quality of the material or workmanship therein, or as to Landlord’s title thereto or ownership thereof, or otherwise; and all risks incidental to the Leased Property shall be borne by Tenant to the extent of matters which arise during the Term
of this Lease. Landlord leases and Tenant accepts the Leased Property as it with all faults and in the event of any defect or deficiency of any nature in the Leased Property or any fixture or other item constituting a portion thereof, whether patent
or latent, neither Landlord nor Landlord’s mortgagee shall have any responsibility or liability with respect thereto. THE PROVISIONS OF THIS PARAGRAPH HAVE BEEN NEGOTIATED AND ARE INTENDED TO BE A COMPLETE EXCLUSION AND NEGATION BY LANDLORD OF,
AND LANDLORD DOES HEREBY DISCLAIM AMY AND ALL WARRANTIES BY LANDLORD, EXPRESS OR IMPLIED, WITH RESPECT TO THE LEASED PROPERTY OR ANY FIXTURE OR OTHER ITEM CONSTITUTING A PORTION THEREOF, WHETHER ARISING PURSUANT TO THE UNIFORM COMMERCIAL CODE OR ANY
OTHER LAW NOW OR HEREAFTER IN EFFECT OR OTHERWISE. 
  
 3. TERM; EXTENDED TERMS: 
  
 (a) Subject to the
provisions hereof, Tenant shall have and hold the Leased Property for an initial term which shall begin as of the date hereof and end on June 30, 2009 (the “Initial Term”). 
  

 6 

 (b) The Landlord shall have an option to extend the Term of this Lease beginning on June 30, 2009 for one
(1) additional term of three (3) years, by notice to the Tenant no later that June 30, 2007 (the “Landlord Extended Term”). Upon exercise by the landlord of its option to extend the Term of this Lease for the Landlord Extended Term, the
Tenant will be obligated to lease the Leased Property in accordance with the terms hereof for the Landlord Extended Term. 
  
 Tenant shall give Landlord a reminder notice (the “Reminder Notice”) of the date that the option to enter into the Landlord Extended Term
must be exercised no earlier than March 30, 2007; provided, however, that if Tenant fails to give such Reminder Notice by April 30, 2007, Landlord shall have until the date which is sixty (60) days after the date Landlord receives the
Remainder Notice to notify Tenant whether it elects to exercise the option for the Landlord Extended Term. 
  
 (c) The Tenant shall have options to extend the Term of this Lease for Two (2) consecutive periods of five (5) years each (individually an “Extended
Term” and collectively the “Extended Terms”), as hereinafter provided in paragraph (d). 
  
 (d) Provided that no Material Event of Default shall have occurred and be continuing at the time the Tenant delivers to the Landlord a notice of extension
and at the time the particular Extended Term is scheduled to begin, the Tenant shall have the right to extend this Lease for one or more Extended Term(s) upon and subject to the following provisions: 
  

	 	(1)	The Tenant may extend this Lease for up to two (2) successive Extended Terms of five (5) years each if the Tenant notifies the Landlord thereof no later that March 30, 2008 (if the
Landlord does not exercise its option in Section 3(b) or no later than twelve (12) months prior to the expiration of the then existing Extended Term, as the case may be. The Extended Term shall commence immediately upon the expiration of the Initial
Term, the Landlord Extended Term or the immediately preceding Extended Term as the case may be. If the Tenant does not extend this Lease in a timely manner for any particular Extended Term, the Tenant’s rights with respect to that and any later
Extended Term(s) shall expire and be of no further force or effect. 

  

	 	(2)	The Tenant’s exercise of any extension option must be made by a notice signed by the Tenant and delivered to the Landlord on or before the date set forth above.

  
 Each notice of election to extended given in
accordance with the provisions of this Article 3 shall, subject to the other provisions of this Article 3, automatically extend this Lease for the Landlord Extended Term or the Extended Term selected, without further writing, provided, however,
either party, upon request of the other, will execute and acknowledge, in form suitable for recording, and instrument confirming any such extension. Time shall be of the essence with respect to the giving of notice by Tenant to extend this Lease.
Tenant shall have no right to extend this Lease except as provided in this Article 3. 
  
 (e) The terms and conditions under which Tenant shall occupy the Leased Property during the Landlord Extended Term or any Extended Term shall be upon the same covenants, agreements, provisions, and conditions of this
Lease that are in effect on the date 
  

 7 

 immediately prior to the date the Landlord Extended Term or the Extended Term, as applicable, begins, except that the
Basic Rent payable hereunder during the Landlord Extended Term and each such Extended Term shall be equal to the Basic Rent set forth on Schedule B annexed hereto with respect to the Landlord Extended Term and each such Extended Term, subject
to reduction as expressly provided in Article 13 of this Lease. 
  
 4. RENT: 
  
 (a) Tenant shall pay
to Landlord all Basic Rent and (to the extent payable to Landlord) Additional Rent by wire transfer of federal funds or collected funds immediately available to Landlord on the dates when Basic Rent is due as provided in Section 4(b) hereof (and,
with respect to any Additional Rent payable to Landlord hereunder, when due as provided herein), at Landlord’s address set forth above, or at such other place in the continental United States as Landlord may from time to time designate by
written notice to Tenant. 
  
 (b) During the Initial Term and any
Landlord Extended Term or Extended Term, Tenant shall pay to Landlord the Basic Rent before 12:00 P.M. Eastern Time, on the last day of each month starting with the month of July, 1997 (the “Installment Payment Dates”). If such payment is
received after 12:00 P.M. Eastern time on any Installment Payment Date, such payment shall be deemed to be received by Landlord on the next succeeding Business Day. Tenant shall pay to Landlord per diem interest at the Overdue Interest Rate from the
date on which such payment was due to the date on which such payment is deemed to be received pursuant to this paragraph. Landlord agrees that it will use its best efforts to provide Tenant with notice of any such late payment of which Landlord has
actual knowledge, provided that Tenant will remain liable for payment of interest notwithstanding Landlord’s failure to notify Tenant hereunder. 
  
 (c) If any Installment Payment falls on a day which is not a Business Day, Basic Rent shall be due and payable on the next succeeding Business Day without
interest or penalty if paid on such Business Day. 
  
 (d) If
Tenant shall fail to make any payment of Additional Rent pursuant to Article 4 hereof or purchase price for the Leased Property pursuant to Articles 13 or 16 hereof or as liquidated damages pursuant to paragraph (c) of Article 23 hereof in the
amount and on the date provided for herein, Tenant shall be liable for interest on such late payment at the Overdue Interest Rate from the date such payment was due to and including the date such payment was received. Landlord agrees that it will
use its best efforts to provide Tenant with notice of any such late payment of which Landlord has actual knowledge, provided that Tenant will remain liable for payment of interest notwithstanding Landlord’s failure to notify Tenant hereunder.

  
 (e) All amounts which Tenant is required to pay or discharge
pursuant to this Lease in addition to Basic Rent (including any amount payable as the purchase price for the Leased Property pursuant to any provision hereof or as liquidated damages pursuant to paragraph (c) of Article 23) together with any
interest or penalty which may be added for late payment thereof or of Basic Rent, shall constitute additional rent hereunder (“Additional Rent”). In the event of any failure by Tenant to pay or discharge any such amount, Landlord shall
have all rights, powers and remedies provided for herein or by law or otherwise in the case of nonpayment of Basic Rent. Tenant may pay Additional Rent directly to the person entitled thereto. 
  

 8 

 5. USE: 
  
 Tenant may use the Leased Property for any lawful purposes, provided that any change in use from the present use shall not
(i) have any detrimental environmental effect on the Leased Property arising out of a violation or violations of Environmental Laws or result in any material increased risk of liability to Landlord, in Landlord’s reasonable judgment; (ii)
result in any loss or deferral of the tax consequences to Landlord anticipated to be available from this transaction; or (iii) result in any substantial modifications to the physical structure of the Leased Property reasonably expected to cost more
than the Alternation Cost Threshold unless approved by Landlord and Landlord’s mortgagee, which approval shall not be unreasonably withheld, conditioned or delayed so long as there is no adverse effect on the fair market value of the Leased
Property when compared to such fair market value immediately prior to such change in use. Notwithstanding anything to the contrary set forth in this Article 5, Landlord agrees that Tenant may at any time during the Term of this Lease use the Leased
Property for the purposes for which it as being used by Tenant at the commencement of the Term. 
  
 6. NET LEASE; NONTERMINABILITY: 
  
 (a) This Lease is a “net lease” and Tenant’s obligations arising or accruing during the Term of his Lease to pay all Basic Rent, Additional
Rent, and all other payments hereunder required to be made by Tenant shall be absolute and unconditional, and Tenant shall pay all Basic Rent, Additional Rent and all other payments hereunder required to be made by Tenant without notice, demand,
counterclaim, set-off, deduction, or defense, and without abatement, suspension, deferment, diminution or reduction, free from any charges, assessments, impositions, expenses or deductions of any and every kind or nature whatsoever. All costs,
expenses and obligations of every kind and nature whatsoever relating to the Leased Property and the appurtenances thereto and the use and occupancy thereof which may arise or become due and payable prior to or with respect to the Term of this Lease
(whether or not the same shall become payable during the Term of this Lease of thereafter) shall be paid by Tenant, and Landlord, Landlord’s mortgagee, and their respective employees, shareholders, officers, directors, members managers,
trustees, partners or principals, disclosed or undisclosed, and each of their respective employees, shareholders, officers, directors, members, managers, trustees, partners, invitees, agents, or principals, disclosed or undisclosed and all of their
respective successors and assigns (hereinafter collectively referred to as the “Indemnitees” and each individually as an “Indemnitee”), shall be indemnified and saved harmless by Tenant from and against the same other than by
reason of such Indemnittee’s willful misconduct or gross negligence. Tenant assumes the sole responsibility for the condition, use, operation, maintenance, underletting and management of the Leased Property, and Tenant shall indemnify, defend
and hold the Indemnitees harmless from and against any and all liability, costs, damages, losses and claims (including reasonable attorneys’ fees and expenses) actually incurred to the extent of matters which arise or accrue prior to or with
respect to the Term of this Lease (whether or not the same shall become payable during the Term of this Lease or thereafter), and the Indemnitees shall have no responsibility in respect thereof and shall have no liability for damage to the property
of Tenant or any subtenant of Tenant on any account of for any reason whatsoever other than by reason of such Indemnitee’s willful misconduct or gross negligence. Without limiting the generality of the foregoing, during the Term of this Lease
Tenant shall perform all of the obligations of the sublessor under any sublease affecting all or any part of the Leased Property which Tenant may hereafter enter into as sublessor. It is the purpose and intention of the parties to this Lease that
the Basic Rent due hereunder shall be absolutely net to the Landlord and that this Lease shall yield, net to the Landlord, the Basic Rent, Additional Rent and all other payments hereunder required to be made by Tenant as provided in this Lease.

  

 9 

 (b) Except as otherwise expressly provided in Articles 13(c) and 23(b)(ii) hereof, this Lease shall not
terminate, nor shall Tenant have any right to terminate this Lease or to be released or discharged from any obligations or liabilities hereunder for any reason, including, without limitation: (i) any damage to or destruction of the Leased Property;
(ii) any restriction, deprivation (including eviction) or prevention of, or any interference with any use or the occupancy of the Leased Property (whether due to any defect in or failure of Landlord’s title to the Leased Property or otherwise);
(iii) any condemnation, requisition or other taking or sale of the use, occupancy or title of or to the Leased Property; (iv) any action, omission or breach on the part of Landlord under this Lease or under any other agreement between Landlord and
Tenant; (v) the inadequacy or failure of the description of the Leased Property to demise and let to Tenant the Property intended to be leased hereby: (vi) Tenant’s acquisition of ownership of the Leased Property; (vii) the impossibility or
illegality of performance by Landlord or Tenant or both; (viii) any action of any court, administrative agency or other governmental authority; or (ix) any other cause, whether similar or dissimilar to the foregoing, any present or future law
notwithstanding. 
  
 (c) Tenant will remain obligated under this
Lease in accordance with its terms, and will not take any action to terminate (except in accordance with the provisions of subsection (c) of Article 13 hereof), rescind or avoid this Lease for any reason, notwithstanding any bankruptcy, insolvency,
reorganization, liquidation, dissolution or other proceeding affecting Landlord or any assignee of Landlord, or any action with respect to this Lease which may be taken by any receiver, trustee or liquidator or by any court. Tenant waives all rights
at any time conferred by statute or otherwise to quit, terminate or surrender this Lease or the Leased Property, or to any abatement or deferment of any amount payable by Tenant hereunder, or for damage, loss or expense suffered by Tenant on account
of any cause referred to in this Article 6 or otherwise. 
  
 7. TAXES AND OTHER CHARGES; LAW AND AGREEMENTS: 
  
 (a) Tenant shall pay and discharge, not later than the last day upon which the same may be paid without interest or penalty, any and all present or future taxes, assessments, levies, fees, water and sewer rents and
other governmental and similar charges, general and special, ordinary or extraordinary, and any interest, fines and penalties thereon or additions thereto (“Impositions”), which are levied or assessed and become due and payable with
respect to the Term of this Lease, whether or not the same become payable during the Term of this Lease, (including all Impositions for the year in which this Lease is executed which are now a lien but not yet due and payable) against (i) Landlord
and which relate to Landlord’s ownership of the Leased Property, the use and occupancy of the Lease Property or the transactions contemplated by this Lease, (ii) the Leased Property or the interest of Tenant or Landlord therein, (iii) Basic
Rent, Additional Rent or any other amount payable by Tenant hereunder, (iv) this Lease or the interest of Tenant or Landlord hereunder, (v) the use, occupancy, construction, repair or rebuilding of the Leased Property or any portion thereof, of (vi)
gross receipts from the Leased Property. Anything in the preceding sentence or in this Lease to the contrary notwithstanding, nothing in this Lease shall require payment by Tenant of any net income (including any capital gain), franchise, estate,
inheritance, or similar taxes of Landlord or Landlord’s mortgagee, unless such tax is in lieu of or a substitute for any other tax or assessment upon or with respect to the Leased Property, which, it such other tax or assessment were in effect,
would be payable by Tenant hereunder. Tenant shall furnish to Landlord, promptly, and in any event within thirty (30) days after demand by Landlord, proof of the payment of any such tax, assessment, levy, fee, rent or charge which is payable by
Tenant. Such taxes, assessments, levies, fees, water and sewer rents and other governmental charges shall be apportioned between Landlord and Tenant as of the date on which this Lease terminates or expires. 
  

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 If any tax or assessment levied or assessed against the Leased Property may legally be paid in installments, Tenant shall
have the option to pay such tax or assessment in installments and shall be liable only for the payment of those installments which are payable during the Term of this Lease or relate to the period prior to the termination of the Term of this Lease.

  
 (b) Tenant shall pay on an after tax basis all charges for
utility, communication and other services rendered or used on or about the Leased Property to the extent of such matters which arise or accrue during the Term of this Lease, whether or not payment therefore shall become due after the Term of this
Lease. 
  
 (c) If during the Term of this Lease any method of
taxation shall be such that in lieu of or in substitution for Impositions there shall be levied, assessed or imposed on the Landlord a capital levy or other tax (however designated) then the Tenant shall pay all such taxes, assessments, levies or
charges or the part thereof so measured or based, but only as if the Leased Property were the only property of the Landlord. 
  
 (d) The Tenant shall pay all such Impositions, or other service charges or other assessments payable by Tenant as provided hereunder directly to the
applicable authority, or if Tenant has defaulted in the payment thereof (subject to Section 7(g) hereof), which default continues for five (5) Business Days after notice from Landlord, Landlord may (but shall not be obligated to) pay the same, and
any penalties or interest which may have accrued thereon, and the Tenant shall reimburse the Landlord for the same within thirty (30) days after the Tenant receives notice thereof and supporting data reasonably acceptable to the Tenant, plus
interest on any amounts paid by the Landlord at the Overdue Interest Rate from the date paid through the date of repayment. 
  
 (e) In the event that the payment of any fine, penalty or similar charge in connection with any imposition or payment of Additional Rent which is the
responsibility of Tenant hereunder is deemed to constitute taxable income to Landlord for federal, state or local income tax purposes, and the payment of such fine, penalty or similar charge or payment of Additional Rent does not result in an
offsetting deduction to Landlord for federal, state or local income tax purposes, in the same amount and in the same taxable year as such taxable income is recognized, Tenant shall pay to Landlord upon demand an amount sufficient to hold Landlord
and any affiliate of Landlord harmless from all taxes actually required to be paid with respect to the receipt or accrual of such payment and such amount, including interest and penalties in connection therewith, and additions thereto, and after
taking into account any deductions to which Landlord and any affiliate of Landlord actually is entitled to and receives as a result of the payment of such fine, penalty or similar charge. 
  
 (f) Tenant shall at all times during the Term of this Lease, at Tenant’s own cost and expense, perform and comply with
all laws (Including Environmental Laws), statutes, treaties, rules, codes, orders, ordinances, regulations and requirements now or hereafter enacted or promulgated, of every government and municipality having jurisdiction over the Leased Property
and of any agency thereof, and any applicable judgments, decrees, injunctions, writs, orders or like actions of any court, arbitrator or administrative, judicial or quasi-judicial tribunal or agency of competent jurisdiction (collectively,
“Applicable Laws”) relating to the Leased Property, or the Improvements, or the facilities or equipment thereon or therein, or the streets, sidewalks, vaults, vault spaces curbs and gutters adjoining the Leased Property, or the
appurtenances to the Leased Property, or the franchises and privileges connected therewith, whether or not such Applicable Laws so involved shall necessitate structural changes, improvements, interference with use and enjoyment of the Leased
Property, replacements or repairs, extraordinary as well as ordinary, and 
  

 11 

 Tenant shall do perform and comply whether or not such Applicable Laws shall now exist or shall hereafter be enacted or
promulgated, and whether or not such Applicable Laws can be said to be within the present contemplation of the parties hereto. Tenant shall also observe and comply with the requirements of all permits relating to the Leased Property and all public
liability, fire and other policies of insurance at any time in force with respect to the Leased Property which are either (a) purchased by the Tenant, and with orders, rules and regulations published by the Board of Fire Underwriters. 
  
 (g) Tenant shall have the right to contest, by appropriate proceedings, any
tax, charge, levy, assessment, lien or other encumbrance, and/or any law, rule, code, order, ordinance, regulation or other governmental requirement affecting the Leased Property, and to postpone payment of or compliance with the same during the
pendency of such contest, provided that in the event of such postponement or payment or noncompliance: (i) Tenant shall not postpone the payment of any such tax, charge, levy, assessment, lien or other encumbrance for such length of time as shall
permit the Leased Property, or any lien thereon created by such item being contested, to be sold by federal, state, county or municipal authority for the non-payment thereof; (ii) Tenant shall not postpone compliance with any such law rule, code,
order, ordinance, regulation or other governmental requirement if Landlord will thereby be subject to civil liability or criminal prosecution, or if any municipal or other governmental authority shall commence a process according to carry out any
work to comply with the same or to foreclose or sell any lien affecting all or part of the Leased Property which shall have arisen by reason of such postponement or failure of compliance; and (iii) Tenant shall pay, in a timely fashion, all Basic
Rent and Additional Rent (other than any item of Additional Rent that Tenant is permitted to contest pursuant to this Lease, so long as Tenant satisfies all of the requirements of this Lease relating to such contest) which shall become due and
payable under this Lease. 
  
 (h) Tenant shall, at Tenant’s
sole cost and expense, promptly and fully perform each and every covenant, condition, promise and obligation of the owner of the Leased Property under each and every reciprocal easement agreement, declaration, restriction, easement agreement,
declaration, restriction, easement or other agreement now or hereafter in effect, whether recorded or unrecorded, affecting the Leased Property or any portion thereof, or the ownership, use, nonuse, occupancy, construction, repair, maintenance or
rebuilding thereof (except for any mortgage affecting Landlord’s interest in the Leased Property or other liens created by Landlord). 
  
 8. LIENS: 
  
 Tenant will promptly, but no later than thirty (30) days after the filing thereof, remove and discharge of record, by bond or otherwise, any charge, lien,
security interest or encumbrance upon the Leased Property, or any Basic Rent, or Additional Rent which arises for any reason, including all liens which arise out of the possession, use, occupancy, construction, repair or rebuilding of the Leased
Property or by reason of labor or materials furnished or claimed to have been furnished to Tenant for the Leased Property, but not including any Permitted Encumbrances or any mechanics liens created by Landlord. Nothing contained in this Lease shall
be construed as constituting the consent or request of Landlord, express or implied, by inference or otherwise, to or for the performance by any contractor, laborer, materialman, or vendor of any labor or services or for the furnishing of any
materials for any construction, alteration, addition, repair or demolition of or to the Leased Property or any part thereof. Notice is hereby given that Landlord will not be liable for any labor, services or materials furnished or to be furnished to
Tenant, or to anyone holding an interest in the Leased Property or any part thereof through or under Tenant, and that no mechanic’s or other liens for any such labor, services or materials shall attach to or affect the 
  

 12 

 interest of Landlord in and to the Leased Property. In the event of the failure of Tenant to discharge any charge, lien,
security interest or encumbrance as aforesaid, Landlord may, if not discharged by Tenant within three (3) Business Days after written notice to Tenant, discharge such items by payment or bond or both, and Tenant will repay to Landlord, upon demand,
any and all amounts paid by Landlord therefore, or by reason of any liability on such bond, and also any and all incidental expenses, including reasonable attorneys’ fees, actually incurred by Landlord in connection therewith. 
  
 9. INDEMNIFICATION; FEES AND EXPENSES: 
  
 (a) Tenant shall pay, and shall protect, defend, indemnify on an after-tax
basis and hold each Indemnitee harmless from and against all liabilities, losses, damages, costs, expenses (including reasonable attorneys’ fees and expenses) actually incurred, claims, demands or judgments of any nature arising from or in
connection with the following events to the extent such events arise or accrue prior to or with respect to the Term of this Lease (whether or not the same shall become payable during the Term of this Lease or thereafter): (i) the Leased Property,
including any injury-to, or the death of, any person or any damage to or loss of property, (ii) the ownership of the Leased Property by Landlord, (iii) the use, nonuse, occupancy, construction, repair or rebuilding of the Leased Property (or
adjoining property, to the extent that any loss or damage to adjoining property arises from or out of the Leased Property), (iv) the condition of the Leased Property, (v) this Lease, including violation by Tenant of any provision of this Lease, or
of any law, rule, regulation, ordinance or restriction, now or hereafter in effect and affecting the Leased Property, (vi) any lease or other agreement relating to the Leased Property now or hereafter in effect to which Tenant is a party or by which
Tenant is bound, (vii) any agreement of which Tenant now has actual or constructive notice and which is now in effect, affecting the Leased property or the ownership thereof by Landlord, or the use, nonuse, occupancy, construction, repair or
rebuilding of the Leased Property, and (viii) the incorrectness or breach of any representation or warranty of Tenant in this Lease or in the Agreement of Purchase and Sale, other than any injury, death, damage or loss arising out of such
Indemnitee’s willful misconduct or gross negligence or that of such Indemnitee’s employees, agents or contractors. 
  
 (b) Should any event occur for which any Indemnitee is entitled to indemnification pursuant to this Article 9 or other provisions of this Lease, such
Indemnitee shall provide prompt written notice to Tenant describing the nature of such claim (provided, however, that the failure by such Indemnitee to so notify Tenant or any other Indemnitee shall not limit or otherwise affect the
obligations and liabilities of Tenant hereunder provided that such failure does not prevent Tenant from so indemnifying such Indemnitee). Tenant may assume responsibility for any action to be taken to contest the claim, provided that Tenant will
notify the Indemnitees in writing of its intention to contest such claim within thirty (30) days after receipt of notice of the claim. Tenant, at its sole expense, may control all proceedings relating to such contest, provided that no Material Event
of Default is continuing and that Tenant has acknowledged its obligation to provide indemnification hereunder relating to the applicable claim. The Indemnitees will cooperate with Tenant in contesting such claim, provided that Tenant indemnifies and
holds harmless the Indemnitees for all reasonable costs and expenses (including, without limitation, reasonable attorney’s fees and expenses) relating to contesting such claim. Any counsel selected by Tenant hereunder shall be reasonably
acceptable to the Indemnitees, and the Indemnitees, at their option, shall have the right to contest such claim through separate counsel in the event any claims against or defenses of such Indemnitee are in conflict under the applicable standards of
professional conduct with those of Tenant, and Tenant shall be obligated to 
  

 13 

 pay for all reasonable costs and expenses (including without limitation reasonable attorneys’ fees and expenses)
actually incurred relating to any such separate contest of such claim. 
  
 10. ENVIRONMENTAL MATTERS 
  
 Tenant represents and warrants to Landlord and Landlord’s mortgagee that, except as disclosed in the Environmental Reports: 
  
 (i) to the best of Tenant’s Actual Knowledge, the Leased Property complies with all Environmental Laws 
  
 (ii) no notices, complaints or orders of violation or
non-compliance with or liability under Environmental Laws have been received by Tenant and, to the best of Tenant’s Actual Knowledge, no federal, state or local environmental investigation or proceeding is pending or threatened with regard to
the Leased Property or any use thereof or any alleged violation of or liability under Environmental Laws with regard to the Leased Property; 
  
 (iii) the Leased Property has not been used by Tenant or, to the best of Tenant’s Actual Knowledge, by any prior owner or any other
party to generate, manufacture, refine, produce, or process, or to store, handle, dispose, treat, transfer or transport any Hazardous Substances used in compliance with applicable Environmental Laws in connection with the maintenance and operation
of the Leased Property; 
  
 (iv) to the best of
Tenant’s Actual Knowledge, no underground storage tanks or surface impoundments have been installed at, under or in the Leased Property in violation of applicable Environmental Laws at, under or in the Leased Property which originated either on
or off the Leased Property; and 
  
 (v) to the
best of Tenant’s actual Knowledge, the Leased Property is free of Hazardous Substances and friable asbestos, the removal of which is required or the maintenance of which is prohibited or penalized by any Environmental Law. 
  
 Tenant covenants that during the Term of this Lease it (i) shall comply, and
cause the Leased Property to comply, with all Environmental Laws applicable to the Leased Property, (ii) shall prohibit the use of the Leased Property for the generation, manufacture, refinement, production, or processing of any Hazardous Substance
or for the storage, handling, transfer or transportation of any Hazardous Substance (other than in connection with the operation and maintenance of the Leased Property (including without limitation Tenant’s use of the turbines located on the
Leased Property) and in commercially reasonable quantities as a consumer thereof, subject to, in any event, compliance with Environmental Laws), (iii) shall not install or permit the installation on the Leased Property of any underground storage
tanks or surface impoundments and shall not permit there to exist any petroleum or other contamination at, on or under the Leased Property in violation of applicable Environmental Laws whether originating on or off the Leased Property (other than in
connection with the use, operation and maintenance of the Leased Property and then only in compliance with applicable Environmental Laws and all other applicable laws, 
  

 14 

 rules, orders, ordinances, regulations and requirements now or hereafter enacted or promulgated of every government and
municipality having jurisdiction over the Leased Property and of any agency thereof) or asbestos-containing materials and (iv) shall cause any alterations of the Leased Property to be done in a way so as to not expose, in violation of applicable
Environmental Laws, the persons working on or visiting the Leased Property to Hazardous Substances present upon the Leased Property which could reasonably be expected to cause an exposure in violation of applicable Environmental Laws to any person
working on or visiting the Leased Property in connection with any such alterations. 
  
 As soon as reasonably possible after obtaining knowledge thereof, Tenant shall give to Landlord notice of the occurrence of any of the following events: (i) the failure of the Leased Property to comply in any material
(defined below) manner with any Environmental Law in any manner whatsoever; (ii) the receipt by Tenant or any sublessee or assignee of Tenant of any notice, complaint or order of violation or non-compliance or liability of any nature whatsoever with
regard to the Leased Property or the use thereof with respect to Environmental Laws ; (iii) the receipt by Tenant or any sublessee or assignee of Tenant of any notice of a pending or threatened investigation that Tenant’s (or its
sublessees’ or assignees’) operations on the Leased Property are not in compliance with any Environmental Law; or (iv) the migration or release, or a threat of migration or release of any Hazardous Substance from the Leased Property to
other properties or to the Leased Property from other properties. Tenant shall have the right to contest and/or appeal, by appropriate proceedings, any notice, complaint, order or finding of violation or non-compliance with or liability under any
Environmental Laws affecting the Leased Property or any use thereof by Tenant or its sublessees or assignees, provided the same is not reasonably likely to subject Landlord or any Indemnitee to material civil liability or to any criminal liability
or prosecution or permit any municipal or other governmental authority to commence a process according to applicable law to carry out any work to comply with the same or to foreclose or sell any lien affecting all or any portion of the Leased
Property is in material violation of or subject to material liability under an Environmental Law, Tenant will promptly give Landlord written notice thereof. As used in the immediately preceding sentence, “material” shall mean any violation
of or liability under an Environmental Law (i) that may subject the Landlord to any fines or penalties; (ii) the remediation of which is estimated to cost more than Fifty Thousand Dollars ($50,000); or (iii) relating to which notice has been
received from, or given to, any governmental authority having jurisdiction over the Leased Property. 
  
 At any time that an Event of Default shall have occurred and be continuing, or a notice, complaint, or order or finding of violation or non-compliance
with or liability under Environmental Laws shall have been issued with respect to the Leased Property, or at any time (but no more than once) during the last twelve months of the Initial Term or any Landlord Extended Term or Extended Term, Landlord,
after not less than forty-eight (48) hours prior written notice to Tenant, may cause to be performed an environmental audit or risk assessment of the Leased Property, or any portion thereof, and the then uses thereof. Such an environmental audit or
assessment shall be performed by a reputable, regionally recognized environmental consultant selected by Landlord and shall include a review of the uses of the Leased Property and an assessment of the possibility of violation or non-compliance of
the same with Environmental Laws. Except in the case of an emergency, the environmental audit shall be conducted during normal business hours and the environmental consultant shall use its reasonable efforts not to unreasonably interfere with the
operations of Tenant. All reasonable costs and expenses actually incurred by Landlord in connection with such environmental audits or assessments shall be paid by Tenant within thirty (30) days after Tenant’s receipt of a reasonably detailed
invoice for such services. In the event of a dispute between Landlord and Tenant over the reasonableness of such costs or expenses the matter shall be submitted to arbitration pursuant to Article 38 hereof. Until the matter 
  

 15 

 is resolved in accordance with the preceding sentence. Tenant shall not be in default hereunder for failing to make such
payment. Following the arbitrator’s written determination of the reasonableness of such costs or expenses. Tenant shall be obligated to make such payment to Landlord within five (5) days of the date of the arbitrator’s determination.

  
 If at any time an event or condition shall have occurred and
be continuing which results in the Leased Property being in violation of or subject to liability under any Environmental Law, or a notice, complaint, or order or finding of violation or non-compliance with or liability under any Environmental Law
shall have been received by Tenant with respect to the Leased Property, Tenant shall, subject to Tenant’s right to contest and/or appeal set forth above, diligently perform all remedial work to the Leased Property at its own cost and expense
and in accordance with all requirements, including timeframes, imposed by any governmental authority having jurisdiction over the Leased Property, in order to bring the leased Property into full compliance with Environmental Laws and the
requirements of this Article 10 or to remove the source of such liability but in no event shall such remediation be completed later than the end of the Term of this Lease. 
  
 Tenant agrees to indemnify, defend and hold harmless the Indemnitees from and against any and all losses (including, without
limitation, diminution in value of the Property), liabilities (including, without limitation, strict liability), suits, obligations, fines, damages, judgments, penalties, claims, charges, costs and expenses (including, without limitation, reasonable
fees and disbursements of counsel and consultants actually incurred by such Indemnitees), which may be suffered or incurred by, or asserted against, an Indemnitee at any time and which arise directory or indirectly out of a violation prior to and
during the Term of this Lease of this Article 10 or arise directly or indirectly from the presence of Hazardous Substances on the Leased Property prior to or during the Term of this Lease and any matters arising under or relating to any
Environmental Law and relating to the Leased Property. 
  
 The
Warranties and obligations of Tenant, and the rights and remedies of Landlord under this Article 10, are in addition to and not in limitation of any other warranties, obligations, rights and remedies provided in this Lease or otherwise at law or in
equity and shall survive the termination of this Lease, either pursuant to the terms hereof or following an Event of Default. 
  
 11. MAINTENANCE AND REPAIR: 
  
 Tenant will, at its cost and expense, keep and maintain the Leased Property in good condition and repair), and in t least as good condition it was in on
the Commencement Date (subject to ordinary wear and tear) and to a standard not lower than other similar properties owned or leased by Tenant and, in any event, consistent with comparable properties in the metropolitan area where the Leased Property
is located, and will make all structural and non-structural, and ordinary and extraordinary changes, repairs and replacements which may be required to be made upon or in connection with the improvements to the Leased Property in order to keep the
same in such good repair and condition. Landlord shall not be obligated or required to maintain, alter, repair, rebuild or replace any Improvements on the Leased Property or to maintain the Leased Property, and Tenant expressly waives the right to
make repair at the expense of Landlord pursuant to any law at any time in effect. 
  

 16 

 12. ALTERATIONS, ADDITIONS AND CONSTRUCTION BY TENANT: 
  
 (a) Provided that no Material Event of Default has occurred and is
continuing, if Tenant complies with the requirements of this Article 12(a), Tenant may without the consent of Landlord, at its own cost and expense, (A) make additions or improvements to or alterations of the Improvements now or hereafter erected on
the Leased Property, including, without limitation, the construction of new buildings and improvements and the demolition of existing Improvements to replace them with new buildings and improvements (“Additional Improvements”) having an
estimated cost of less than Two Million Dollars ($2,000,000) (the Alteration Cost Threshold”) in any twelve (12) month period, (B) make any interior non-structural tenant improvements and (c) make the additions or improvements or alterations
listed in Schedule F annexed hereto which Tenant plans to complete within the first twelve (12) months of the Term of this Lease. For the purposes of clause (A) above commencing on and as of the first anniversary of the Commencement Date and on and
as of each anniversary of the Commencement Date thereafter, the Alteration Cost Threshold for the following twelve month period shall be calculated as the amount equal to the product derived by multiplying Two Million Dollars ($2,000,000) by one (l)
plus the percentage by which the CPI for May of such calendar year exceeds the base Price Index. In the event the information necessary to calculate clause (A) of the Alteration Cost Threshold shall not have been published in sufficient time to
permit such calculation to be made on or before the anniversary of the Commencement Date, the Alteration Cost Threshold shall be calculated by using the CPI for the latest month for which it has been published. After publication of the relevant
information, Landlord and Tenant shall make appropriate adjustment of the Alteration Cost Threshold. 
  
 In no event shall the Alteration Cost Threshold be reduced as a result of any decrease in the CPI. 
  
 Tenant may, subject to the terms and conditions contained in this Article 12,
at its own cost and expense, with the prior written consent of Landlord (which consent will not be unreasonably withheld, conditioned or delayed), make Additional Improvements with an estimated Cost in excess of the Alteration Cost Threshold.
Notwithstanding the foregoing, Tenant shall not make any Additional Improvements in violation of the terms of any restriction, easements, condition or covenant or other matter affecting title to the Leased Property. The making of all such Additional
Improvements shall be subject to the following conditions. 
  
 (i) Subject to paragraph (c) of this Article 12, title to any such Additional Improvements shall immediately vest in Landlord and shall be a part of the Leased Property and subject to the terms, covenants and
conditions of this Lease; 
  
 (ii) No Additional
Improvements shall be undertaken until Tenant shall have procured and paid for, so far as the same may be required from time to time, all permits and authorizations of all municipal and other governmental authorities having jurisdiction of the
Leased Property. Landlord shall, at Tenant’s expense, join in the application for any such permit or authorization and execute and deliver any document in connection therewith, whenever such joinder is necessary. 
  
 (iii) The making of the Additional Improvements shall be
expeditiously completed in good and workmanlike manner and in 
  

 17 

 compliance with all applicable laws, rules, regulations, ordinances and restrictions then
in effect; 
  
 (iv) The making of any Additional
Improvements with respect to the Leased Property involving changes estimated to have a cost (as defined in paragraph (d) of Article 12 hereof) in excess of the Alteration Cost Threshold shall be conducted under the supervision of an architect or
engineer employed or engaged and paid by Tenant and approved in writing by Landlord and Landlord’s mortgagee; which approval shall not be unreasonably withheld, conditioned or delayed; and neither shall be undertaken except in accordance with
detailed plans and specifications and cost estimates prepared by Tenant and approved by Landlord, which approval shall not be unreasonably withheld, conditioned or delayed; 
  
 (v) Any Additional Improvements shall, when completed, be of such a character as not to adversely affect the
fair market value of the Leased Property when compared to such fair market value immediately prior to the commencement of construction of such Additional Improvements, and prior to commencement of construction of the Additional Improvements, if the
cost thereof shall be in excess of the Alteration Cost Threshold, Tenant shall furnish Landlord with a certificate (which may be in letter form) confirming that said Additional Improvement is of such a character as not to adversely affect the fair
market value of the Leased Property when compared to such fair market value immediately prior to the commencement of construction of such Additional Improvements; if Landlord objects to such certificate within fifteen (15) days of Landlord’s
receipt thereof, an Appraiser reasonably accepted to Landlord and Tenant shall resolve the dispute by appraising, at Tenant’s cost and expense, the Leased Property in question both with and without such Additional Improvements. If Landlord
shall not object to such certificate within said fifteen (15) days, Landlord’s rights to object to such certificate shall be waived; 
  
 (vi) Subject to the Provisions of Article 8, the cost of any Additional Improvements shall be paid by Tenant when due so that the Leased
Property shall at all times be free of liens for labor and materials supplied or claimed to have been supplied to the Leased Property; 
  
 (vii) No Additional Improvements shall, when completed, be of such a character as to adversely affect the character of the then existing
Improvements erected upon the Leased Property as self-contained structural unit(s), capable of being operated independently of any other buildings or improvements. When completed, the Leased Property in question shall have a fair market value not
less than the fair market value of the Improvements located at such Property immediately prior to the commencement of construction of such Additional Improvements; 
  
 (viii) During the period when any demolition or construction in connection with any Additional Improvements
is underway, Tenant shall, subject to Tenant’s right to self-insure set forth in paragraph (g) of Article 14, maintain the following insurance: (A) completed value builders risk insurance for the Leased Property, including all building
materials thereon, covering loss or damage from fire, lightning, extended coverage perils, sprinkler, leakage, vandalism, malicious mischief and perils insured in an amount not less than the cost, as estimated by Tenant, of the construction of the
Additional Improvements and (B) workmen’s compensation insurance covering the full statutory liability as an employer of the contractor performing the work of making such Additional Improvements; 
  
 (ix) Upon completion of the making of the Additional
Improvements in accordance with paragraph (c) of this Article 12, if the cost thereof shall be in excess of the Alteration Cost Threshold (or at any time any financing of any Additional Improvements is provided by 
  

 18 

 Landlord’s mortgagee), Tenant shall furnish Landlord with (A) an endorsement to the
policy or policies of title insurance which shall have been issued to Landlord and Landlord’s mortgagee insuring their respective interests in the Leased Property confirming that there are no mechanics’ Liens or other encumbrances against
the Leased Property since the issuance date of Landlord’s policy (other than Permitted Encumbrances) and (B) all Certificates of Occupancy or other certificates required by applicable laws; 
  
 (x) In the case of any Additional Improvements constituting
or including construction of or a change in the exterior walls of a building, Tenant, upon completion of Additional Improvements, shall furnish Landlord with a survey showing the location of said Additional Improvements prepared by a licensed
surveyor and reasonably acceptable to Landlord, certified to Landlord, Landlord’s mortgagee and the title insurance company or companies issuing a policy or an endorsement pursuant to clause (ix) of paragraph (a) of this Article 12; and

  
 (xi) The making of Additional Improvements
shall not constitute income to Landlord or shall not result in some or all of the federal, state or municipal income tax deductions which Landlord would otherwise be permitted to report with respect to the Leased Property or this Lease being
deferred or denied or cause this Lease not to be a true Lease for federal income tax purposes. Landlord agrees that within fifteen (15) days of receipt of Tenant’s notice of the proposed Additional Improvements, Landlord shall notify Tenant as
to whether the Additional Improvement satisfies the terms of this subparagraph (xi) and Landlord’s failure to notify Tenant within such fifteen (15) day period shall be deemed to be Landlord’s notice of satisfaction with this requirement.

  
 For purposes of this Article 12, Landlord and/or
Landlord’s mortgagee, as the case may be, shall be deemed to have approved and/or consented to any request for approval or consent submitted to Landlord by Tenant pursuant to this Article 12 if Landlord or Landlord’s mortgagee, as the case
may be, has not disapproved any such request within (i) fifteen (15) Business Days of Tenant’s request therefor with request to Tenant’s initial notice of the proposed Additional Improvements and submission of plans and specifications and
(ii) ten (10) Business Days of Tenant’s request therefor with respect to any work change orders or alterations of plans and specifications of the Additional Improvement thereafter. 
  
 (b) Tenant may, at its own cost and expense, install or place upon or reinstall or replace upon and remove from the Leased
Property Tenant’s Equipment or the Equipment. Any such Tenant’s Equipment shall not become the property of Landlord (other than replacements of Equipment which is the property of Landlord, which replacement shall also be the; property of
Landlord). Replacements of Equipment which are property of the Landlord shall be of at least equal quality and similar utility to the replaced Equipment when the replaced items were new and the fair market value of the Leased Property as a whole
shall not be adversely affected by the replacement of equipment. Tenant shall repair any damage caused by removal of equipment from the Leased Property, at Tenant’s own cost and expense. 
  

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 (c) If the estimated costs and expenses for construction of Additional Improvements on any Property
exceed Five Hundred Thousand Dollars($500,000), Tenant may request Landlord to use commercially reasonable efforts to arrange for the financing of such Additional Improvements on terms and conditions which shall be satisfactory to Landlord and
Tenant. If Tenant makes any such request, Landlord and Tenant shall negotiate in good faith concerning the financing of such Additional Improvements and any amendment of this Lease appropriate in connection therewith, having due regard to then
existing economic, financial and market conditions and the terms and conditions of Tenant’s request. Tenant shall pay all costs and expenses associated with the arrangement of any such financing, provided that Tenant may request that such costs
and expenses be included as part of the cost of such Additional Improvements to be financed under this paragraph (c) of Article 12. The parties hereto recognize that such amendment to this Lease, including increases in Basic Rent adequate to
amortize fully any indebtedness actually incurred by Landlord and to provide a reasonable return (typical of similar transactions) to Landlord with respect to its additional equity contribution, if any, must be of such nature as to permit Landlord
to sell such notes or other debt obligations as may be necessary to accomplish such financing, and increases in the Termination Values set forth in Schedule C by amounts acceptable to Landlord and Tenant and sufficient to prepay in full such
financing will also be required. If any additional Improvements are financed with mortgage indebtedness, such financing must comply with all of the requirements of Landlord’s mortgagee. Landlord shall incur no liability by reason of
Landlord’s inability or failure to arrange for such financing or to agree with Tenant as to the terms thereof, and this Lease shall continue in full force and effect notwithstanding such failure. 
  
 In the event that Landlord shall be unable to secure such financing, Tenant
may make such Additional Improvements, and finance such Additional Improvements itself, subject to the terms and conditions of this Article 12 provided that any borrowings actually incurred by Tenant to financing such Additional Improvements may not
be secured by the Leased Property. In the case that Tenant arranges for financing (including, without limitation, refinancing any existing mortgage) to cover the costs of any Additional Improvements having a cost in excess of Five Hundred Thousand
Dollars ($500,000), then upon obtaining a commitment for such financing, Tenant shall notify Landlord in writing of the terms thereof. Tenant agrees to pay all reasonable attorneys’ fees and expenses which Landlord may actually incur in
connection with any such financing. 
  
 (d) For the purposes of
this Article 12, the term “cost” shall include (i) all costs and expenses actually incurred which are properly charged or chargeable, in accordance with generally accepted accounting principles, as capital expenditures in connection with
the making of the Additional Improvements, including, without limitation, reasonable attorneys’, architects’ and engineers’ fees, interest charges during construction and the fees and charges for the preparation of the plans and
specifications relating to such Additional Improvements, (ii) survey charges and title insurance premiums in connection with the issuance of endorsements, if any, to owner’s and mortgagee’s title insurance policies pursuant to the
provisions of clause (ix) and (x) of paragraph (a) of this Article 12, and (iii) reasonable accounting, printing, duplicating and other expenses actually incurred in connection with the financing referred to in paragraph (c) of this Article 12.

  
 (e) Notwithstanding anything herein to the contrary, no
Additional Improvements may be made of financed if doing so would result in some or all of federal, state or municipal income tax deductions which Landlord would otherwise be permitted to report with respect to the Leased Property or this Lease
being deferred or denied or cause this Lease not to be a true lease for federal income tax purposes. 
  

 20 

 (f) Tenant shall have the right to install signs on the Leased Property provided that such signs are in
compliance with all applicable codes laws and ordinances. 
  
 (g)
Landlord and Tenant acknowledge that Landlord will be entitled to claim depreciation and cost recovery deductions with respect to the Leased Property and any alternations, additions and replacements thereof owned by Landlord in accordance with this
Lease, and Tenant will be entitled to claim depreciation and cost recovery deductions with respect to Tenant’s Equipment and all leasehold improvements paid for by Tenant (other than with funds provided by Landlord) after the Commencement Date.

  
 13. CONDEMNATION AND CASUALTY 
  
 (a) Tenant hereby assigns to Landlord any award, compensation, insurance
proceeds or other payment (including any self insurance amounts) to which Tenant may become entitled by reason of its interest in the Leased Property, other than any award, compensation or insurance payment made for any inventory, machinery,
equipment or other personal property belonging to Tenant, including, without limitation, Tenant’s Equipment (hereinafter referred to as “Tenant’s Loss”) by reason of (i) damage to or destruction of the Leased Property by fire or
other taking or sale of the use, occupancy or title to the Leased Property or any portion thereof in by or on account of any actual or threatened eminent domain proceeding or other action by any governmental authority or other person having the
power of eminent domain (a “condemnation”). Tenant is hereby authorized and empowered, at its cost and expense, in the name and on behalf of Landlord, Tenant or otherwise, to appear in any such proceeding or other action, to negotiate,
accept and prosecute any claim for any award, compensation, insurance proceeds or other payment on account of any such casualty or condemnation, and to cause any such award, compensation, insurance proceeds or other payment to be paid to Landlord,
except that Tenant shall be entitled to submit a separate claim for Tenant’s Loss and receive and retain any award applicable thereto. All amounts so paid or payable to Landlord or Tenant shall be retained or paid over to the party entitled
thereto in accordance with the provisions of this Article 13. Tenant shall take all appropriate action in connection with each such claim, proceeding(s), and Tenant shall deliver all instruments reasonably requested by Landlord or Landlord’s
mortgagee to permit such participation, and shall pay all costs and expenses in connection therewith. 
  
 (b) If less than substantially all of the Leased Property shall be damaged or destroyed by casualty, or condemned, then Tenant shall give prompt written
notice thereof to Landlord, and this Lease shall continue in full force and effect and Tenant shall proceed at Tenant’s own cost and expense and in conformity with the requirements set forth in paragraph (a) of Article 12 hereof with reasonable
diligence and promptness to carry out any necessary demolition and to restore, repair, re place, and/or rebuild the Leased Property in order to restore the Leased Property, as nearly as practicable, to substantially the same condition, design and
construction as that which existed immediately prior to such casualty or condemnation or, if the Leased Property is restored to a different condition design or construction than that which existed immediately prior to such casualty or condemnation,
the Leased Property must be restored as nearly as practicable to the condition and fair market value which existed immediately prior to the condemnation or casualty. 
  
 Basic Rent shall not abate hereunder by reason of any such casualty or condemnation of the Leased Property, and Tenant shall
continue to perform and fulfill all of Tenant’s obligations, covenants and agreements hereunder notwithstanding such damage or destruction. 
  

 21 

 Landlord and Tenant shall agree on the maximum cost of such restoration, repair, replacement, or
rebuilding such agreement not to be unreasonably withheld or delayed, and such cost shall be paid first out of Tenant’s own funds to the extent such cost exceeds the Net Award, and then out of the Net Award. If Landlord and Tenant cannot agree
on the maximum cost of such restoration, repair, replacement or rebuilding, the issue shall be submitted to arbitration pursuant to Article 38 hereof. If the Net Award shall not exceed the Alteration Cost Threshold and provided that no Material
Event of Default has occurred and is continuing, then the Net Award shall be paid to Tenant (and to the extent the Net Award was previously assigned to Landlord, will be remitted by Landlord to Tenant) to be applied to the repair and rebuilding work
required by this paragraph (b). If the Net Award exceeds the Alteration Cost Threshold, the proceeds shall be disbursed in accordance with clauses (i)-(iv) of paragraph (d) of this Article 13. 
  
 (c) If, at any time during the Term of this Lease, Tenant shall reasonably
determine that all or substantially all of the Leased Property has been destroyed by casualty, or all or substantially all of the Leased Property has been taken by condemnation, or after any substantial condemnation of the Leased Property if the
Leased Property is unsuitable for continued use in Tenant’s business, Tenant shall promptly notify Landlord of such event in writing within thirty (30) days of such condemnation or casualty. In such event Tenant may either (i) rebuild and/or
restore the Leased Property, at Tenant’s own cost and expense and in accordance with the requirements set forth in paragraphs (a) and (b) of Article 12 hereof and paragraph (d) of Article 13 hereof or (ii) give written notice to Landlord within
ninety (90) days after such condemnation or casualty of Tenant’s intention to terminate this Lease in conformity with the requirements set forth herein. Substantially all of the Leased Property shall be deemed to have been taken by condemnation
if the remaining portion shall not be of sufficient size or character to permit the operation by Tenant on an economically feasible basis of the business conducted thereon immediately prior to the condemnation, assuming that such remaining portion
had been repaired and restored to the fullest extent possible. Substantially all of the Leased Property shall be deemed to have been destroyed by casualty, if, as to any one occurrence, fifty percent (50%) or more of the total net rentable square
foot area within the Leased Property shall be damaged or destroyed and Tenant determines in its reasonable discretion that the Leased Property is no longer suitable for use in its business, Tenant’s notice to Landlord of Tenant’s intent to
terminate this Lease shall (i) contain a brief description of the relevant condemnation or casualty, (ii) specify such termination date, which shall be the Installment Payment Date first occurring at least 210 days and not more than 360 days after
such notice is given (the “Termination Date”), (iii) if such notice of termination shall be based on a reasonable determination by Tenant that after such casualty or condemnation the Leased Property is no longer suitable for use in
Tenant’s business as aforesaid, contain a certification by Tenant that Tenant has made such determination in good faith, and that, on or before such Termination Date, Tenant will discontinue the use of the Leased Property in Tenant’s
ordinary course of business, (iv) contain the irrevocable offer of Tenant to purchase Landlord’s interest in the Leased Property (and in the Net Award hereinafter referred to) on such Termination Date at the Termination Value (defined as the
amount corresponding to the applicable Termination Date on Schedule C annexed hereto); and (v) contain a commitment by Tenant to deposit with a Depository not later than one year after the date of the condemnation or casualty (but no later
that the Termination Date) as security for payment of the purchase price for the Leased Property the applicable Termination Value less the amount of any Net Award previously paid with respect to such casualty or condemnation and held by Landlord or
Landlord’s designee pursuant to paragraph (a) of this Article 13. If Landlord shall reject such offer to purchase by notice (counter-signed by Landlord’s mortgagee) given to Tenant not later than thirty (30) Business Days prior to such
Termination Date, then this Lease shall terminate on such Termination Date and the Net Award shall be paid and belong to Landlord, plus an amount equal to the deductible payable under the policy or policies of insurance, which shall be paid by
Tenant to Landlord. Unless Landlord shall reject such offer to 
  

 22 

 have accepted such offer, and on such Termination Date Landlord shall transfer, and Tenant shall purchase,
Landlord’s interest in the Leased Property (and in the Net Award) in accordance with the provisions of Article 17 hereof, and upon payment of the purchase piece, Tenant’s obligation to pay Basic Rent shall terminate on the Termination
Date. The additional amount, if any, deposited by Tenant pursuant to clause (v) of paragraph (c) of this Article 13 and not applied towards the purchase price of such Property shall be paid to Tenant on the Termination Date provided that there is no
Material Event of Default existing under this Lease. 
  
 If Tenant
shall not give notice of its intention to terminate this Lease in accordance with paragraph (c) of this Article 13 or shall not be entitled to give notice of its intention to terminate this Lease, then this Lease shall continue in full force and
effect. 
  
 (d) If the Net Award shall exceed the Alteration Cost
Threshold, or if a Material Event of Default has occurred and is continuing, then: 
  
 (i) the full amount of the Net Award shall be paid to a depository (the “Depository”) to be selected as hereinafter provided.
The Depository shall be Landlord’s mortgage if it is a bank or trust company which has an undivided capital and surplus of $200 million or more, and otherwise shall be a bank or trust company selected by Landlord and approved by Tenant (so long
as a Material Event of Default does not exist under this Lease) and by Landlord’s mortgagee, which approval shall not be unreasonably withheld or delayed, which has undivided capital and surplus of Two Hundred Million Dollars ($200,000,000) or
more. The Depository shall have no affirmative obligation to prosecute a determination of the amount of, or to effect the collection of, any insurance proceeds or condemnation award or awards, unless the Depository shall have been given an express
written undertaking to do so by Landlord and Tenant. Moneys received by the Depository pursuant to the provisions of this Lease shall not be mingled with the Depository’s own funds and shall be held by the Depository in trust, either separately
or with other trust funds, for uses and purposes provided in this Lease. The Depository shall place any moneys held by it into an interest bearing account; and the interest paid or received by the Depository on the moneys so held in trust shall be
added to the moneys so held in trust. The Depository shall not be liable or accountable for any action taken or suffered by the Depository or for any disbursement of moneys made by the Depository in good faith in reliance on advice of legal counsel.
In disbursing monies pursuant to clause (iii) of this paragraph (d), the Depository may rely conclusively on the information contained in any notice given to the Depository by Tenant in accordance with the provisions of said clause (iii), unless
Landlord shall notify the Depository in writing within five (5) days after the giving of any such notice that Landlord intends to dispute such information, in which case the disputed amount shall not be disbursed but shall continue to be held by the
Depository until such dispute shall have been resolved by agreement of the parties or by arbitration pursuant to Article 38 hereof; 
  
 (ii) Landlord and Tenant shall agree on the maximum cost of such rebuilding, restoration or repair, which agreement shall not be
unreasonably withheld or delayed, and such cost exceeds the Net Award, the aggregate reasonably expected amount of which funds 
  

 23 

 shall be deposited by Tenant with the Depository upon written request therefor of Landlord or
Landlord’s mortgagee. If Landlord and Tenant cannot agree on the maximum cost of such rebuilding, restoration or repair, such issue shall be submitted to arbitration in accordance with Article 38 hereof; 
  
 (iii) Provided that no Material Event of Default has
occurred and is continuing, from time to time, but not more often than once in any thirty (30) day period, Tenant may request reimbursement out of the Net Award for the actual costs and expenses incurred by Tenant in connection with such repair and
rebuilding. Such requests shall be made by written notice to the Depository, with a copy to Landlord, setting forth in reasonable detail all of such costs and expenses incurred by Tenant. If Landlord shall in good faith desire to dispute the
information contained in any notice given by Tenant pursuant to this clause (iii), Landlord shall so notify Tenant and the Depository in writing within five (5) Business Days after the giving of such notice, specifying the amount intended to be
disputed and the nature of the dispute. After such five (5) Business Day period has elapsed, if Landlord has not disputed the information contained in Tenant’s Notice, the Depository shall promptly disburse to Tenant out of the Net Award the
amount of such costs and expenses. If Landlord disputes the information contained in Tenant’s Notice, such dispute shall be resolved by agreement of the parties or by arbitration pursuant to Article 38 hereof, and any undisputed amount shall be
released to Tenant; and 
  
 (iv) Upon the
completion of such repair and rebuilding, any remaining Net Award shall be paid to and belong to Landlord. Landlord will utilize such remaining Net Award to prepay any mortgage indebtedness encumbering the Leased Property, and each payment of Basic
Rent payable during the remaining Term of this Lease to occur following the payment of such remaining Net Award to Landlord shall be reduced by an amount so as to preserve Landlord’s Yield with respect to its ownership of the Leased Property;
provided that in no event will Basic Rent be reduced to an amount which is less than the debt service payable to Landlord’s mortgagee. 
  
 (e) Notwithstanding any other provision to the contrary contained in this Article 13, in the event of a temporary condemnation, this Lease shall remain in
full force and effect and Tenant shall be entitled to the Net Award allocable to such temporary condemnation; except that such portion of the Net Award allocable to the time period after the expiration or termination of the Term of this Lease shall
be paid to Landlord. 
  
 (f) This Article 13 shall be
Tenant’s sole and exclusive remedy in the event of damage or destruction to the Leased Property or in the event of a taking or condemnation thereof, and Tenant, as a material inducement to Landlord entering into this Lease, irrevocably waives
and releases Tenant’s rights under California Civil Code Sections 1932(2) and 1933(4) and California Code of Civil Procedure Section 1265.130. 
  

 24 

 14. INSURANCE: 
  
 (a) Tenant shall, subject to paragraph (g) below, during the Term of this Lease, at its cost and expense, maintain valid and
enforceable insurance of the following character: 
  
 (i) “all risks” insurance coverage against losses by fire and lightning and other risks for the full insurable replacement value on a per occurrence basis of the Improvements and the Equipment and all building materials,
equipment, machinery, appliances and other property which constitute part of the Leased Property, with agreed amount endorsement or endorsements providing equivalent protection, including loss by windstorm, hail, explosion, earthquake, riot
(including riot attending a strike), civil commotion, aircraft, vehicles, smoke damage, and vandalism and malicious mischief, but excluding insurrections, rebellions, revolutions and civil wars, in amounts not less than the full insurable value of
all buildings and other improvements on the Leased Property. The term “full insurable value” as used herein means the actual replacement cost, including the costs of debris removal, but excluding the cost of constructing foundations,
footings and excavations. 
  
 (ii) Comprehensive
general public liability of Landlord and Tenant against claims for bodily injury, death or property damage, occurring on, in or about the Leased Property or as a result of the use of products or materials manufactured, processed, constructed or
sold, or services rendered, on the Leased Property, in the minimum amount of Five Million Dollars ($5,000,000) with respect to any one occurrence, accident or disaster or incidence of negligence. Coverage should include
“premises/operations”, “independent contractors”, and “blanket contractual” liabilities. If the insurance is provided on a claims made basis, the insured amount shall be Five Million Dollars ($5,000,000) per claim and
the coverage shall be the same as under the occurrence from. Any claims made policy shall provide that (A) coverage will be continuous, (B) the retroactive date of the preceding continuous occurrence coverage, (C) at each renewal of the claims made
coverage the retroactive date shall not be advanced, (D) if the retroactive date is advanced or coverage is cancelled for whatever reason, Tenant shall deliver to Landlord a certificate of insurance showing that Tenant has purchased the extended
reporting period or supplemental tail endorsement under the previous policy extending the period for an unlimited time, if reasonably available, during which a claim may first be made, and (E) the certificate of insurance shall show the retroactive
date. Without limiting the foregoing, Tenant shall, subject to paragraph (g) below, maintain all comprehensive general public liability insurance required to be maintained by the owner or occupant of the Leased Property under any contract, agreement
or recorded document affecting the Leased Property or any portion thereof or any appurtenances thereto. 
  
 (iii) Workers’ compensation insurance. Tenant shall comply with applicable workers’ compensation laws and shall maintain
workers’ compensation insurance if and to the extent necessary for such compliance. 
  

 25 

 (iv) Such other insurance, in such amounts and against such risks (including, without
limitation, flood insurance), as is customarily maintained by operators of similar properties. 
  
 (v) Excess Liability – single limit liability insurance in the amount of Five Million Dollars ($5,000,000) with respect to the risk
referred to in clause (ii) of this paragraph (a) of Article 14. 
  
 (vi) Such insurance as is required of Tenant as provided in clause (viii) of paragraph (a) of Article 12 hereof. 
  
 Such insurance shall be written by companies of recognized financial standing which are rated at least A by national rating organizations and have a claims paying ability
rating from Standard & Poor’s Corporation of AAA or a rating from Best’s of at least A:XII, and are legally qualified to issue such insurance, and are acceptable to Landlord and Landlord’s mortgagee, and shall name Tenant as the
insured party and Landlord and Landlord’s mortgagee, as additional insureds as their interests may appear in accordance with paragraph (c)(i) of this Article 14. Such “all risk” insurance may provide for such commercially reasonable
deductible amounts as are customarily provided for in insurance maintained by comparable operators of comparable buildings (but in no event in excess of One Million Dollars ($1,000,000) per occurrence as shall be adjusted (upwards only) each year by
any increase in the CPI from the Base Price Index). Tenant may, at its cost and expense, prosecute any claim against any insurer or contest any settlement proposed by any insurer, and Tenant may bring any such prosecution or contest during the Term
of this Lease in the name of Landlord, Tenant or both, and Landlord will join therein at Tenant’s request, provided that Tenant shall indemnity Landlord against any costs or expenses which Landlord may incur in connection with such prosecution
or contest. 
  
 (b) Provided that no Material Event of Default has
occurred and is continuing, insurance claims by reason of damage or destruction to any portion of the Leased Property shall be adjusted by Tenant, subject to the approval of Landlord if such claim exceeds the Alteration Cost Threshold, which
approval Landlord agrees not to unreasonably withhold, condition or delay. 
  
 (c) Every insurance policy maintained pursuant to clause (viii) of paragraph (a) of Article 12, or paragraph (a) of this Article 14 shall be reasonably satisfactory in form and substance to Landlord and
Landlord’s mortgagee, and shall: (i) name Landlord and Landlord’s mortgagee as additional insureds as their interests may appear; (ii) contain a standard first mortgage endorsement naming any first mortgagee of Landlord’s interest in
the Leased Property as loss payee; (iii) provide that the insurer waives all rights of subrogation against Landlord, any successor to Landlord’s interest in the Leased Property, and any mortgagee of Landlord’s interest in the Leased
Property; (iv) provide that 30 days (10 days for nonpayment of premiums) prior written notice of cancellation, medication, termination or lapse of coverage shall be given to Landlord and any mortgagee of Landlord’s interest in the Leased
Property and that such insurance, as to the interest of such mortgagee, shall not be invalidated by any foreclosure or any other proceedings relating to the Leased Property, nor by any change in the title ownership of the Leased Property, nor by
occupation of the Leased Property for purposes more hazardous that that which is generally associated with retail and/or light industrial businesses; and (v) be primary and without right or provision of contribution as to any other insurance carried
by Landlord or any other interested party; and (vi) in the event any insuring company is not domiciled within the United States of America, include a United States Service of Suit clause (providing any actions against the insurer 
  

 26 

 by the named insured or Landlord are conducted within the jurisdiction of the United States of America): 
  
 (d) Tenant shall deliver to Landlord upon the execution and delivery of this
Lease certificates of insurance (signed by an authorized insurance company representative), reasonably satisfactory to Landlord and any mortgagee of Landlord’s interest in the Leased Property evidencing all the insurance which is then required
to be maintained by Tenant, and Tenant shall, within thirty (30) days prior to the expiration of any such insurance, deliver certificates of insurance evidencing the renewal of such insurance (signed by an authorized insurance company
representative) evidencing the renewal of such insurance. 
  
 (e)
Tenant shall not obtain or carry separate insurance concurrent in form or contributing in the event of loss with that required in this Article 14 to be furnished by Tenant, unless Landlord and Landlord’s mortgagee is included therein as an
additional insured, with loss payable as in this Lease provided. Tenant shall immediately notify Landlord whenever any such separate insurance is obtained and shall deliver to Landlord and Landlord’s mortgagee the policy or policies or
certificates evidencing the same. 
  
 (f) Tenant shall comply with
all of the terms and conditions of each insurance policy maintained pursuant to the terms of this Lease. 
  
 (g) Provided no Material Event of Default has occurred and is continuing and the Tenant has a senior unsecured debt rating of at least “A” from
Standard & Poor’s Corporation and “A2” from Moody’s Investors Service, Inc., then, to the extent permitted by applicable law, the Tenant may elect to self-insure under any plan of partial or full self-insurance against any of
the risks described in this Article 14 (it being understood that any insurance which the Tenant may elect to maintain while self-insurance is permitted hereunder may be provided by any insurance company or companies authorized in the United States
of America). With respect to earthquake risk only, if Tenant does not meet the credit rating requirements set forth above, Tenant must either (i) maintain earthquake insurance in commercially reasonable amounts and with commercially reasonable
deductibles or (ii) provide Landlord with a letter of credit from a commercial bank rated not lower that “A+” by Standard & Poor’s Corporation and “A1” by Moody’s Investors Service, Inc. in an amount equal to the
full replacement cost of the Improvements, or other comparable collateral reasonably acceptable to Landlord in an amount no more than the full replacement cost of the Improvements. 
  
 15. FINANCIAL STATEMENTS: 
  
 Tenant shall furnish, or cause to be furnished, the following statements to Landlord: 
  
 (i) as soon as practicable and in any event within 120 days
after the end of each fiscal year, consolidated statements of earnings, and consolidated statements of cash flows, consolidated statements of stockholders equity, and consolidated balance sheets as of the end of each such year, setting forth in each
case in comparative form corresponding consolidated figures from the preceding year, all in the from as furnished by BankAmerica Corporation, a Delaware corporation, the parent corporation of Tenant, to the Securities and exchange Commission or
similar federal agency having regulatory jurisdiction over 
  

 27 

 BankAmerica Corporation, or, it no such jurisdiction exists, in reasonable detail and reasonably
satisfactory in scope to Landlord and certified to BankAmerica Corporation as to consolidated statements by independent certified public accountants of recognized national standing selected by BankAmerica Corporation whose certificate shall be based
upon an examination conducted in accordance with generally accepted auditing standards and the application of such tests as said accountants deem necessary in the circumstances. 
  
 (ii) with reasonable promptness, copies of all financial statements and reports which BankAmerica
Corporation shall send to its stockholders, and copies of each Form 10-K, Form 10-Q, Form80-K, proxy statement and, in the form having been deemed effective, registration statement (without exhibits) (other than preliminary proxy statements and Form
S-8 registration statements), or copies of any successor forms or statements substituted there for, which BankAmerica Corporation shall file with the Securities and Exchange Commission (“SEC”) or any governmental agency substituted to the
functions of the SEC. 
  
 16. RIGHT OF FIRST
REFUSAL: 
  
 If at any time during the Term of this Lease,
Landlord shall receive a bona fide offer (a “Third Party Offer”) from a third party (other than a purchaser making a bid or offer to purchase the Leased Property at any sale incidental to the exercise of any remedy provided for in any
mortgage on the Leased Property at any sale incidental to the exercise of any remedy provided for in any mortgage on the Leased Property), which offer may be in the form of a term sheet or letter of intent and need not be an executed purchase
contract, to acquire, purchase or otherwise obtain its interest in the Leased Property or any portion thereof containing terms and conditions satisfactory to Landlord, then Landlord, shall notify Tenant of such Third Party Offer, including the
identity of the offeror and a copy of the applicable term sheet or letter of intent or purchase contract. If at any time no Material Event of Default has occurred hereunder and is continuing, for a period of forty-five (45) days after Tenant’s
receipt of Landlord’s notice, Tenant shall have the exclusive right to accept Landlord’s offer to purchase Landlord’s interest in the Leased Property upon the terms and conditions set forth in the Third Party Offer, less the savings
resulting from the absence of brokerage commissions (if any). Tenant shall exercise such right of first refusal, if at all by delivering its written purchase offer to Landlord within forty-five (45) days after receipt of Landlord’s notice. Such
purchase shall occur on the next occurring Installment Payment Date that is at least forty-five (45) days after Landlord’s receipt of such notice. On the date of such purchase Landlord shall convey and assign to Tenant, or its designee,
Landlord’s interest in the Leased Property or portion thereof against payment of the sale price therefor, in accordance and upon compliance with the terms and conditions of the Third Party Offer, provided that such conveyance and assignment
shall be made subject to this Lease (including without limitation the provisions of this Article 16), and, notwithstanding any purchase of the Leased Property by Tenant pursuant to this Article 16, this Lease shall continue in full force and effect
with respect to the Leased Property as set forth in Article 26. If Tenant fails to accept Landlord’s offer within such forty-five (45) day period, than Landlord shall be free to sell the Leased Property at a price not less than the purchase
price and otherwise on the terms and conditions contained in the Third Party Offer for a period of twelve (12) months thereafter without offering the Leased Property to Tenant. If Landlord does not convey its interest in the Leased Property within
such twelve (12) month period or in the event of any material 
  

 28 

 change in the terms of the Third Party Offer (it being agreed and understood that any change in price would constitute a
material change), Tenant’s rights pursuant to this paragraph shall be reinstated. Any third party that purchases the Leased Property pursuant to this Article 16 shall take the Leased Property subject to the terms hereof (including without
limitation the provisions of this Article 16 shall take the Leased Property subject to the terms hereof (including without limitation the provisions of this Article 16), and such purchaser shall assume Landlord’s rights and obligations under
the Lease, and this Lease shall remain in full force and effect. Landlord shall cause any third party purchasing the Leased Property pursuant to this Article16 to execute and deliver to Tenant a document confirming such third party’s assumption
of Landlord’s rights and obligations under this Lease. 
  
 17. PURCHASE PROCEDURE 
  
 (a) In
the event of the purchase of Landlord’s interest in the Leased Property by Tenant pursuant to any provision of this Lease, the terms and conditions of this Article 17 shall apply. 
  
 (b) On the closing date fixed for the purchase of Landlord’s interesting the Leased Property: 
  
 (i) Tenant shall pay to Landlord, in lawful money of the
United States, at Landlord’s address hereinabove stated or at any other place in the United States which Landlord may designate, the purchase price; and 
  

(ii) Landlord shall execute and deliver to Tenant a grant deed, assignment and/or such other instrument or instruments as may be
appropriate, which shall transfer Landlord’s interest in the Leased Property or portion thereof being sold subject to, (A) Permitted Encumbrances (except free of the lien of any mortgage indebtedness incurred, other than with respect to a
purchase under Article 16), (B) all liens, encumbrances, charges, exceptions and restrictions attaching to the Leased Property after the Commencement Date which shall not have been created or caused by Landlord unless consented to by Tenant, and (C)
all applicable laws, rules, regulations, ordinances and governmental restrictions then in effect. In the case of a purchase of Landlord’s interest in the Leased Property by Tenant pursuant to paragraph (c) of Article 13 hereof, Landlord shall
also pay to Tenant the Net Award, if any. 
  
 (c) Tenant shall pay
all costs, charges and expenses of Landlord and Landlord’s mortgagee (other than any prepayment premiums or penalties imposed by any such mortgagee) incident to such transfer including, without limitation, all recording fees, reasonable
attorneys’ fees and expenses, transfer taxes, title insurance premiums and federal, state and local taxes, except for any net income taxes, except in the case of a purchase by Tenant pursuant to Article 16, in which case costs and expenses will
be allocated between Landlord and Tenant in the same manner as was provided for in the Third Party Offer. 
  

 29 

 (d) Tenant shall pay all Basic Rent and Additional Rent due and payable on the date Tenant purchases
Landlord’s interest in the Leased Property. 
  
 18. INVESTMENT CREDIT: 
  
 Landlord hereby elects under
the provisions of the Internal Revenue Code of 1986, as amended (the “Code”), to pass through to Tenant all investment tax credits which may be applied from time to time in respect of the Leased Property or any part thereof under Section
38 of the code (or under the corresponding section of any U.S. income tax law at any time in effect during the Term of this Lease). Landlord agrees, at Tenant’s expense, to execute timely all documents prepared by Tenant and delivered to
Landlord in advance and required by the Code and regulations issued thereunder to enable Tenant to obtain such investment tax credits. 
  
 19. QUIET ENJOYMENT: 
  
 Upon due performance of the covenants and agreements to be performed by Tenant under this Lease, Landlord covenants that Tenant shall and may at all times
peaceably and quietly have, hold and enjoy the Leased Property during the Term of this Lease, without interruption from the acts of Landlord. Notwithstanding the preceding sentence, Landlord, Landlord’s mortgagee, or their agents may enter into
and inspect the Leased Property at any reasonable time during normal business hours, upon the giving of reasonable notice, if they take precautions not to unreasonably inconvenience Tenant or any persons occupying the Leased Property in accordance
with this Lease and are accompanied by an employee or other representative of Tenant at all times during such entry and inspection, or at any time in the event of an emergency, it being agreed and understood that only a situation posing a
substantial risk of serious and imminent bodily injury or significant property damage shall be considered an emergency for purposed of this Article 19. Furthermore, Tenant may designate certain areas of the Leased Property as “Secured
Areas” should Tenant require such areas for the purpose of securing certain valuable or confidential information. Landlord may not enter such Secured Areas except in the case of emergency. 
  
 20. TERMINATION: 
  
 In the event of the termination of this Lease as herein provided, the
obligations and liabilities of Landlord and Tenant, as the case may be, actual or contingent, under this Lease which arose at or prior to such termination shall survive such termination. 
  
 21. SUBLETTING; ASSIGNMENT: 
  
 (a) Subject to subparagraphs (c), (d) and (e) hereof and Article 5 hereof, Tenant may sublet the Leased Property or any
portion or portions thereof, provided that (i) no Material Event of Default has occurred and is continuing and (ii) each sublease shall expressly be made subject and subordinate to the provisions of this Lease. All references in this Lease to a
sublease shall be deemed to include all license agreements and any other arrangements for occupancy or other use by any person or entity of all or any part of the Leased Property, and all references in this Lease to a subtenant shall include any
licensee, occupant or other user of all or any part of the Leased Property. 
  

 30 

 (b) Subject to subparagraphs (c), (d) and (e) hereof and Article 5 hereof, Tenant may assign its interest
under this Lease, provided that no Material Event of Default has occurred and is continuing and provided further that such assignment shall expressly be made subject to the terms of this Lease. 
  
 (c) The term of any subletting of the Leased Property or assignment of this
Lease shall not extend beyond the Term of this Lease then in effect. Any sublessee or assignee shall be permitted to use the Leased Property only for the purposes permitted under this Lease. 
  
 (d) Tenant shall not sublease the Leased Property or any portion thereof or
assign this Lease if the effect of such sublease or assignment would be to cause the Leased Property or any portion there of to be considered as used by a tax-exempt entity or other entity with the result that some or all of the federal, state or
municipal income tax deductions which Landlord otherwise would be permitted to report with respect to the Leased Property or the Lease would be deferred or denied, or cause this Lease not to be a true lease for federal income tax purposes. Landlord
agrees that within twenty (20) Business Days of the receipt of the receipt of any notice of proposed sublease or assignment from Tenant, Landlord will provide Tenant with notice on whether the requirements of this subparagraph (d) are satisfied, and
Landlord’s failure to notify Tenant within such period shall be deemed to be a notification by Landlord that such requirements are satisfied. 
  
 (e) No sublease or assignment shall affect or reduce any obligation of Tenant or right of Landlord hereunder, and all obligations of Tenant of a principal
and not of a guarantor or surety, as though no subletting or assignment had been made. 
  
 (f) Tenant shall, within thirty (30) days after the execution thereof, deliver to Landlord a conformed copy (with acknowledgments) of the following: (i) all lease assignments; (ii) any individual sublease (other than
to an affiliate of Tenant) of more than 50,000 net rentable square feet of the Leased Property; and (iii) all subleases (other than to affiliates of Tenant) if in the aggregate such subleases comprise more than 30% of the net rentable square feet of
the Leased Property. 
  
 (g) Neither this Lease nor the Term of
this Lease hereby demised shall be mortgaged or pledged by Tenant, nor shall Tenant mortgage, pledge or assign the interest of Tenant in and to any sublease of the Leased Property or any portion thereof or the rental payable thereunder. Any such
mortgage, assignment or pledge, and any sublease or assignment not permitted by this Article 21, shall be void. 
  
 (h) Landlord may assign, convey, or otherwise transfer its estate, right, title and interest hereunder or in the Leased Property or any part thereof, and
upon execution and delivery of any such assignment, conveyance or other transfer, Landlord shall be released from its obligations hereunder arising after the date of such conveyance or other transfer, if any, provided that in connection with any
such assignment, conveyance or transfer by Landlord, the transferee agrees to assume all of the obligations of Landlord, if any, under this lease. Any such assignment, conveyance or other transfer shall be subject to this Lease. In the event that
Landlord shall transfer part of its interest in the Leased Property subject to this Lease, then Tenant shall enter into such documentation as Landlord shall deem reasonably necessary to effectuate such transfer and to confirm the continued validity
and enforceability of this Lease. 
  

 31 

 Notwithstanding the forgoing, so long as the Lease remains in effect and no Material Event of Default is
continuing, Landlord shall not sell the Leased Property except upon compliance with the following conditions: 
  
 (i) the transferee shall be a single purpose entity which is not engaged in any business other than the ownership, financing and leasing
of the Leased Property. 
  
 (ii) the transferee
shall be controlled (within the meaning of Rule 405 under the Rules and Regulations of the Securities Act of 1933, as amended) by an Institutional Investor. 
  
 (iii) Landlord shall have given notice to Tenant of the identity of the proposed transferee not fewer than ten (10) Business Days prior to
entering into any binding agreement with the transferee relating to the transfer of the Leased Property. 
  
 (iv) the transferee shall not be a direct competitor of Tenant, meaning a bank, bank holding company, savings bank, savings and loan
association, or trust company, or a parent company or subsidiary of any of the foregoing, doing business in the same market as Tenant (a “Direct Competitor”). 
  
 In the event of a violation by Landlord of the above restrictions, Tenant may seek an injunction to prohibit any such sale,
and any sale in violation of this provision shall be void ab initio. 
  
 In the event that, upon receipt of Landlord’s notice set forth above, Tenant acting in good faith, reasonably believes that the proposed transferee is a Direct Competitor, Tenant will have the right, for a period
of ten (10) Business Days following receipt of such notice, to approve or disapprove such proposed transfer. In the event that Landlord intends to sell the Leased Property to a transferee which in Landlord’s judgment is not a Direct Competitor,
Landlord shall deliver a notice to Tenant requesting Tenant’s approval of such proposed transfer. Tenant shall within ten (10) Business Days from its receipt of such notice confirm in writing Tenant’s agreement that the proposed transferee
is not a Direct Competitor. If Tenant does not object to the proposed transfer or provide a written response to Landlord within either of the above ten (10) Business Day period, Tenant shall, subject to Tenant’s right of first refusal pursuant
to Article 16 of the Lease, be deemed to have approved such transfer and Tenant shall have waived its rights to object to such transfer or seek an injunction hereunder. In the event that Landlord and Tenant cannot reach agreement with respect to
whether the proposed transferee is a Direct Competitor of the Tenant, then the parties shall submit such issue to arbitration in accordance with the provisions of Article 38 hereof. Tenant’s rights hereunder shall be applicable to any proposed
transfer and any future transfer by any permitted successor or assign of Landlord. In the event that Landlord transfers (or attempts to transfer) its interest in the Leased Property in violation of this section, Tenant will be reimbursed on demand
by Landlord for its reasonable attorney’s fees and other out-of-pocket expenses incurred in the enforcement of its rights hereunder. 
  
 This paragraph (h) of Article 21 is not applicable to any transfer by Landlord to a mortgagee of the Leased Property, by foreclosure or otherwise.

  

 32 

 22. ADVANCES BY LANDLORD: 
  
 If Tenant shall fail to make or perform any payment or act required by this Lease within any applicable cure period, then
Landlord may at its option make such payment or perform such act for the account of Tenant, and Landlord shall not thereby be deemed to have waived any default or released Tenant from any obligation hereunder. All amounts so paid by Landlord and all
incidental costs and expenses (including reasonable attorney’s fees and expenses) actually incurred in connection with such payment or performance, together with interest at the annual rate equal to the greater of (i) twelve percent (12%) and
(ii) three percent (3%) above the prime rate as announced from time to time in New York City by Citibank, N.A. (or at the highest rate not prohibited by applicable law, whichever is less) (the “Overdue Interest Rate”) from an including the
date of the making of such payments or the incurring of such costs and expenses to and including the date of repayment, shall be paid by Tenant to Landlord on demand. 
  
 23. CONDITIONAL LIMITATIONS - EVENTS OF DEFAULT AND REMEDIES: 
  
 (a) Any of the following occurrences or acts shall constitute an “Event
of Default” under this Lease: 
  
 (i) if
Tenant shall default in making payment when due of any installment of Basic Rent or Additional Rent, and such default shall continue for five (5) Business Days after receipt of notice of such default; or 
  
 (ii) if Tenant shall default in the due performance of any
other covenant, agreement, obligation or condition on the part of Tenant to be performed hereunder, other than as set forth in clause (i) or clause (vii) of this paragraph (a), and if such default shall continue for thirty (30) days after written
notice from Landlord to Tenant specifying such default and demanding that the same be cured (or, in the case of a default which cannot be cured with the payment of money, or with due diligence be wholly cured within such thirty (30) day period, if
Tenant shall fail to commence to cure the same with said thirty (30) day period, or, having promptly so commenced to cure the same shall fail thereafter to prosecute the curing thereof in good faith and with all due diligence, it being intended that
the time within which to cure such a default shall be extended for such period as may be necessary to complete the curing of the same in good faith and with due diligence, provided that in no event shall such cure period extend beyond the earlier of
(i) two hundred seventy (270) days after written notice from Landlord (except with respect to the cure of environmental violation in accordance with the requirements of all governmental authorities) and (ii) the last day of the Term of this Lease);
or 
  
 (iii) if Tenant, or any corporation
succeeding to Tenant by merger, consolidation or acquisition of all or substantially all of its assets, shall file a petition in bankruptcy or for reorganization or for an arrangement pursuant to the Bankruptcy Act of under any similar federal or
state law now or hereafter in effect, or shall be adjudicated a bankrupt 
  

 33 

 or become insolvent or shall make an assignment for the benefit of its creditors, or shall be unable to
pay its debts generally as they become due, or shall be dissolved, or shall suspend payment of its obligations, or shall take any corporate action in furtherance of any of the foregoing; or 
  
 (iv) if a petition or answer shall be filed proposing the
adjudication of Tenant or any corporation succeeding to Tenant by merger, consolidation or acquisition of all or substantially all of its assets as a bankrupt or its reorganization pursuant to the Bankruptcy Act or any similar federal or state law,
now or hereafter in effect, and (A) Tenant or its successor corporation shall consent to the filing thereof, or (B) such petition or answer shall not be discharged, or denied within one hundred twenty (120) days after the filing thereof; or

  
 (v) if a receiver, trustee or liquidator (or
other similar official) shall be appointed for or take possession or charge of Tenant or any corporation succeeding to Tenant by merger, consolidation or acquisition of all or substantially all of its assets, or of all or substantially all of the
business or assets of Tenant or its successor corporation or of Tenant’s or its successor corporation’s estate or interest in the Leased Property, and shall not be discharged within ninety (90) days thereafter or if Tenant or its successor
corporation shall consent to or acquiesce in such appointment; or 
  
 (vi) if the estate or interest of Tenant in the Leased Property or any sublease thereof shall be levied upon or attached in any proceeding and such process shall not be vacated or discharged within ninety (90) days
after such levy or attachment, unless Tenant shall be contesting such levy or attachment in accordance with the requirements of paragraph (d) of Article 7 hereof: or 
  
 (vii) if Tenant fails to pay Landlord the purchase price of the Leased Property pursuant to Article 17
hereof or if Tenant fails to maintain insurance in accordance with Article 14 hereof or if Tenant is in breach of Article 29 hereof; or 
  
 (viii) if, as of the time when the same shall have been made, any representation or warranty of Tenant to Landlord or Landlord’s
mortgagee set forth in any notice, certificate, demand, request or other instrument delivered in connection with or pursuant to this Lease shall prove to be incorrect or misleading in any material respect which breach had a material adverse effect
on Landlord and for which Tenant failed to diligently commence to cure or, having diligently commenced to cure, which was not cured within two hundred seventy (270) days thereafter. 
  
 (b) This Lease and the Term of this Lease and estate hereby granted are subject to the limitation that whenever an Event of
Default shall have occurred, Landlord may, at Landlord’s option, elect to (i) re-enter the Leased Property, without notice, and remove all persons and property therefrom, either by summary proceedings or by any suitable action or proceeding at
law, or otherwise, without being liable to indictment, prosecution action or proceeding at law, or otherwise, without being liable to indictment, prosecution or damages therefor, and may have, hold 
  

 34 

 and enjoy the Leased Property, together with the appurtenances thereto and the improvements thereon; and/or (ii)
terminate this Lease at any time by giving ten (10) days notice in writing to Tenant, electing to terminate this Lease, and the Term of this Lease shall expire at the expiration of said last mentioned ten (10) days notice as fully and completely as
if said date were the date herein originally fixed for the expiration of the Term of this Lease hereby granted, and Tenant shall thererupon quit and peacefully surrender the Leased Property to Landlord, with all appurtenances thereto and all
improvements thereron, without any payment therefor by Landlord, and Landlord, upon the expiration of said last mentioned ten (10) days notice, or at any time thereafter, may re-enter the Leased Property as provided in the preceding clause (i).

  
 (c) In case of any such re-entry, termination and/or
dispossession by summary proceedings as provided in the immediately preceding paragraph, (i) the Basic Rent and Additional Rent shall become due thereupon and be paid up to the time of such re-entry, dispossession and/or termination, together with
such expenses, including reasonable attorneys’ fees and expenses, as Landlord shall incur in connection with such re-entry, termination and/or dispossession by summary proceedings or otherwise; (ii) Landlord may in good faith relet the Leased
Property or any part or parts thereof, either in the name of Landlord or otherwise, for a term or terms which may, at Landlord’s option, be equal to or less than or exceed the period which would otherwise have constituted the balance of the
Term of this Lease; (iii) Tenant shall also pay to Landlord all other actual damages and expenses which Landlord shall have sustained by reason of the breach of any provision of this Lease, including, without limitation, legal expenses, reasonable
attorneys’ fees, brokerage commissions and expenses incurred in altering, repairing and putting the Leased Property and any buildings and improvements thereon in good order and condition and in preparing the same for reletting, which expenses
shall be paid by Tenant as they are incurred by Landlord; (iv) Tenant shall also pay to Landlord the amount by which the Basic Rent reserved in this Lease exceeds the net amount, if any, of the rents collected on account of the leases of the Leased
Property for each month of the period which would otherwise have constituted the Term of this Lease (excluding unexercised extension options other than the Landlord Extension Term), which amounts shall be paid in monthly installments by Tenant on
the respective Installment Payment Dates specified therefor, and any suit brought to collect said amounts for any month or months shall not prejudice in any way the rights of Landlord to collect the deficiency in any subsequent month by a similar
action or proceeding; and/or (v) at the option of Landlord exercised at any time, Landlord forthwith shall be entitled to recover from Tenant as liquidated damages, in addition to any other proper claims but in lieu of and not in addition to any
amount which would thereafter have become payable under the preceding clause (iv), whichever of the following sums Landlord shall elect: 
  
 (A) an amount equal to the Basic Rent and Additional Rent reserved in this Lease and/or covenanted to be paid for the remainder of the
Term of this Lease (excluding unexercised extension periods other that the Landlord Extension Term), discounted at the rate of six and on-half percent (6 1/2%) per year to present worth; provided that, if Tenant shall so request, Landlord shall at the time of such payment assign and convey the Leased Property to Tenant, without further consideration, in
accordance with the terms and provisions of Article 17 hereof; or 
  
 (B) the Termination Values as set forth in Schedule C hereto, provided that, if Tenant shall so request, Landlord shall at the time of such payment assign and convey the Leased Property to Tenant, without
further consideration, in accordance with the terms and provisions of Article 17 hereof. 
  

 35 

 Landlord, at Landlord’s option, may make such alterations and/or decorations in the Leased Property as Landlord, in
Landlord’s sole judgment, considers advisable and necessary for the purpose of reletting the Leased Property; and the making of such alterations and/or decorations shall not operate or be construed to release Tenant from liability hereunder as
aforesaid. 
  
 (d) No receipt of moneys by Landlord from Tenant
after a termination of this Lease by Landlord shall reinstate, continue or extend the Term of this Lease or affect any notice theretofore given to Tenant, or operate as a waiver of the right of Landlord to enforce the payment of rent than due or
thereafter falling due, it being agreed that after the commencement of suit for possession of the Leased Property, or after final order or judgment for the possession of the Leased Property, Landlord may demand, receive and collect any moneys due or
thereafter falling due without in any manner affecting such suit, order or judgment, all such moneys collected being deemed payments on account of the use and occupation of the Leased Property or, at the election of Landlord, on account of
Tenant’s liability hereunder. Landlord shall have, receive and enjoy as Landlord’s sole and absolute property, without right or duty to account therefor to Tenant, any and all sums collected by Landlord as rent or otherwise upon reletting
the Leased Property after Landlord shall resume possession thereof as hereinbefore provided, including, without limitation upon the generality of the foregoing, any amounts by which the sum or sums so collected shall exceed the continuing liability
of Tenant hereunder. 
  
 (e) The word “re-enter”, as
used in this Lease, is not and shall not be restricted to its technical legal meaning, but is used in the broadest sense. No such taking of possession of the Leased Property by Landlord shall constitute an election to terminate the Term of this
Lease unless notice of such intention be given to Tenant or unless such termination be decreed by a court having jurisdiction. 
  
 (f) If an action shall be brought for the enforcement of any provision of this Lease, in which it shall be determined that an Event of Default has
occurred, Tenant shall pay to Landlord all costs and other expenses which may become payable as a result thereof, including reasonable attorney’s fees and expenses. If Landlord shall, without fault on its part, be made a party to any litigation
commenced against Tenant, Tenant shall pay all costs and reasonable attorneys’ fees and expensed. If Landlord shall, without fault on its part, be made a party to any litigation commenced against Tenant, Tenant shall pay all costs and
reasonable attorneys’ fees actually incurred or paid by Landlord in connection with such litigation. 
  
 (g) No right or remedy herein conferred upon or reserved to Landlord is intended to be exclusive of any other right or remedy, and every right and remedy
shall be cumulative and in addition to any other legal or equitable right or remedy given hereunder, or at any time existing. The failure of Landlord to insist upon the strict performance of any provision or to exercise any option, right, power or
remedy contained in this Lease shall not be construed as a waiver or a relinquishment thereof for the future. Receipt by Landlord of any Basic Rent or Additional Rent payable hereunder with knowledge of the breach of any provision contained in this
Lease shall not constitute a waiver of such breach (other than the prior failure to pay such Basic Rent or Additional Rent) and no waiver by Landlord of any provision of this Lease shall be deemed to have been made unless made under signature of an
officer of Landlord. 
  

 36 

 24. NOTICES: 
  
 All notices and other instruments given or delivered pursuant to this Lease shall be in writing and shall be deemed to have
been given (i) when delivered by hand, (ii) on the earlier of receipt and five (5) Business Days after being sent by first class registered or certified mail, postage prepaid, returned receipt requested, (iii) when sent by telegram or cable or (iv)
on the earlier of receipt and two (2) days after being sent by a nationally recognized overnight courier. Copies of notices must be sent to all of the parties listed below. Landlord and Tenant shall each have the right to specify, from time to time,
as its address for purposes of this Lease, any address and any addressee, in the continental United States, upon giving fifteen (15) days’ written notice thereof to the other party. The addresses of Landlord and Tenant for purposes of this
Lease, until notice has been given as above provided, shall be as follows: 
  

			
	 Landlord:
	  	PREFCO XXI Limited Partnership
	 	  	c/o Pitney Bowes Credit Corporation
	 	  	27 Waterview Drive
	 	  	Shelton, Connecticut 06484
	 	  	Attention: Vice President – Credit/Operations
	 	  	FAX: (203) 922-4083
	 	  	PHONE: (203) 922-4073
		
	 With a copy to:                
	  	Kelly Drye & Warren LLP
	 	  	101 Park Avenue
	 	  	New York, New York 10178
	 	  	Attention: John A. Garraty, Jr., Esq.
	 	  	FAX: (212) 808-7898
	 	  	PHONE: (212) 808-7653
		
	 Tenant:
	  	Bank of America NT & SA
	 	  	Corporate Real Estate
	 	  	600 Wilshire Blvd., 2nd Floor
	 	  	Los Angeles, California 90017
	 	  	Attention: Mr. Darl D. Kellogg and Mr. Steven T. Ohigashi
	 	  	FAX: (213) 228-2304
	 	  	PHONE: (213) 228-3366 and (213) 228-2680
		
	 	  	Bank of America NT & SA
	 	  	Legal Department
	 	  	555 South Flower Street, Suite 800
	 	  	Los Angeles, California 90071
	 	  	Attention: John A Clark, Esq.
	 	  	FAX: (213) 228-5344
	 	  	PHONE: (213) 228-5030
		
	 	  	Koll
	 	  	Attn: Lease Administration
	 	  	101 North First Avenue
	 	  	Phoenix, AZ 85003
		
	 	  	Koll
	 	  	Attn: Office of the Building
	 	  	275 So. Valencia
	 	  	Brea, CA 92821

  

 37 

			
	 With a copy to:                
	  	Pillsbury Madison & Sutro LLP
	 	  	725 South Figueroa Street
	 	  	Los Angeles, California 90017-2513
	 	  	Attention: John J. Duffy, Esq.
	 	  	FAX: (213) 629-1033
	 	  	PHONE: (213) 488-7415

  
 25.
ESTOPPEL CERTIFICATES: 
  
 Each party hereto agrees that at any
time and from time to time during the Term of this Lease, it will promptly, but in no event later than fifteen (15) days after request by the other party hereto, execute, acknowledge and deliver to such requesting party or to any prospective
purchaser, assignee or mortgagee or third party designated by such requesting party, a certificate stating (a) that this Lease is unmodified and in force and effect (or if there have been modifications, that this Lease is in force and effect as
modified, and identifying the modifications, that this Lease is in force and effect as modified, and identifying the modifications, that this Lease is in force and effect as modified, and identifying the modification agreements); (b) the date to
which rent has been paid; (c) whether or not there is any existing default by Tenant in the payment of Basic Rent or any other sum of money hereunder, and whether or not there is any other existing default by either party hereto with respect to
which a notice of default has been served, and, if there is any such default, specifying the nature and extent thereof; (d) whether or not there are any setoffs, defenses or counterclaims against enforcement of the obligations to be performed
hereunder existing in favor of the party executing such certificate; and (e) any other information relating to this Lease reasonably requested by the requesting party. 
  
 26. NO MERGER: 
  
 There shall be no merger of this Lease or of any leasehold or subleasehold estate hereby or thereby created with the fee or any other estate or interest
or ownership interest in the Leased Property or any part thereof by reason of the fact that the same person, firm, corporation or other entity may acquire or own or hold, directly or indirectly, (a) this Lease or any leasehold or subleasehold estate
created hereby or thereby or any interest in this Lease or in any such leasehold or subleasehold estate and (b) the fee estate or other estate or interest or ownership interest in the Leased Property or any part thereof, and this Lease shall not be
terminated for any cause except as expressly provided herein. 
  
 27. SURRENDER; HOLDOVER 
  
 (a)
Upon the expiration or earlier termination of the Term of this Lease, Tenant shall surrender the Leased Property to Landlord in the same condition and suitable for the same use in which the Leased Property was originally received from Landlord
except as repaired, rebuilt or altered (including without limitation the alterations listed on Schedule F) as required or permitted by this Lease and except for ordinary wear and tear. Tenant shall remove from the Leased Property on or prior to such
expiration or earlier termination all property owned or leased 
  

 38 

 by Tenant from any third party except that agreed upon by Landlord and Tenant in writing, which agreement, if any shall
be entered into at least thirty (30) days prior to the expiration or earlier termination of the Term of this Lease, and shall repair any damage caused by such removal. Property not so removed within three (3) Business Days after notice from Landlord
shall become the property of Landlord, which may cause such property to be removed from the Leased Property and disposed of, but the cost of any such removal and disposition and of repairing any damage caused by such removal shall be borne by
Tenant. 
  
 (b) Except for surrender upon the expiration or
earlier termination of the Term of this Lease, no surrender to Landlord of this Lease or of the Leased Property shall be valid or effective unless agreed to and accepted in writing by Landlord. 
  
 (c) If the Tenant shall continue to occupy the Leased Property after the
expiration or earlier termination of this Lease, then Tenant shall be deemed to be a holdover tenant, the tenancy of which shall be from month to month upon the same provisions and conditions set forth in this Lease, except that Basic Rent for the
holdover period shall be an amount equal to one hundred thirty (130%) percent of the Basic Rent in effect immediately prior to the holdover period. The foregoing shall not constitute a waiver of the Landlord’s right or re-entry or any other
right granted under this Lease and shall not derogate from any of Tenant’s obligations hereunder in respect of the surrender of the Leased Property or otherwise. 
  
 28. SEPARABILITY: 
  

Each provision contained in this Lease shall be separate and independent and the breach of any such provision by Landlord shall not discharge or
relieve Tenant from its obligation to perform each obligation of this Lease to be performed by Tenant. If any provision of this Lease or the application thereof to any person or circumstance shall to any extent be invalid and unenforceable, the
remainder of this Lease, or the application of such provision to persons or circumstances other than those as to which it is invalid or unenforceable, shall not be affected thereby, and each provision of this Lease shall be valid and shall be
enforceable to the extent permitted by law. 
  
 29. BINDING EFFECT; MERGER, CONSOLIDATION AND DISPOSAL OF ASSETS: 
  
 (a) All provisions contained in this Lease shall be binding upon, inure to the benefit of and be enforceable by the respective successors and permitted assigns and sublessees of Landlord, Tenant and Landlord’s
mortgagee to the same extent as if each such successor or assign or sublessee were named as a party hereto. 
  
 (b) Without the prior written consent of Landlord, Tenant will not, directly or indirectly, consolidate with or merge into any corporation, association,
partnership or other business organization to consolidate with or merge into it, or sell or otherwise transfer all or substantially all of its properties and assets, or acquire all or substantially all of the assets of any corporation, association,
partnership or other business organization or individual, unless (i) the Tenant shall be the entity surviving such consolidation, merger or other action, or the surviving entity or transferee shall enter into an assumption of this Lease and the
other agreements contemplated by this transaction in form and substance reasonably satisfactory to Landlord; (ii) immediately prior to such action, no Event of Default shall have occurred and be continuing; (iii) immediately after 
  

 39 

 giving affect to such action, no default or Event of Default shall exist under this Lease as a consequence of such
action; (iv) the surviving entity (whether or not Tenant) or transferee and its subsidiaries shall be in compliance with all bank regulatory requirements with respect to capital; and (v) the surviving entity or transferee shall be a corporation duly
organized, validly existing and in good standing under the laws of the United States of America, any state or the District of Columbia. 
  
 30. SHOWING: 
  
 During the one year period preceding the date on which the Term of this Lease shall terminate or fully expire, Landlord may show the Leased Property to
prospective tenants or purchasers at such reasonable times during normal business hours as Landlord may select upon reasonable prior notice to Tenant, if they take precautions not to unreasonably inconvenience Tenant or any persons occupying the
Leased Property in accordance with this Lease and are accompanied by an employee or other representative of Tenant at all times during such entry. Tenant may designate certain areas of the Leased Property as “Secured Areas” should Tenant
require such areas for the purpose of securing certain valuable property or confidential information. Landlord may not enter such Secured Areas” should Tenant require such areas for the purpose of securing certain valuable property or
confidential information. Landlord nay not enter such Secured Areas except in the case of emergency, as set forth in Article 19 hereof. 
  
 31. NATURE OF LANDLORD’S OBLIGATIONS: 
  
 Anything in this Lease to the contrary notwithstanding, no recourse or relief shall be had under any rule of law or equity, statute or constitution or by
any enforcement of any assessments or penalties, or otherwise or based on or in respect of this Lease (whether by breach of Landlord or any predecessor or successor corporation (or other entity) of Landlord), or its employees, shareholders,
officers, directors, members, managers, trustees, partners or principals, disclosed or undisclosed, or any of their respective employees, shareholders, officers directors, members managers, trustees, partners or principals, disclosed or undisclosed,
or any of their respective successors and assigns, it being expressly understood that any obligations of Landlord under or relating to this Lease are solely obligations payable out of Landlord’s equity interest in the Leased Property and are
compensable solely therefrom (subject and subordinate to the rights of Landlord’s mortgagee under the related mortgage and without in any manner affecting or limiting Tenant’s obligations under this Lease). It is expressly understood that
all such liability is and is being expressly waived and released as a condition of and as condition for the execution of this Lease, and Tenant expressly waives and releases all such liability as a condition of, and as consideration for, the
execution of this Lease. 
  
 32. GRANTING OF
EASEMENTS: 
  
 If no Material Event of Default hereunder has
occurred and is continuing, Landlord will join with Tenant, from time to time at the request of Tenant (and at Tenant’s sole cost and expense), with respect to their interest in the Leased Property to any person legally empowered to take such
interest under the power of eminent domain, (ii) grant, in the ordinary course of business, easements, licenses, rights of way and other rights and privileges in the nature of easements, (iii) 
  

 40 

 release, in the ordinary course of business, existing easements and appurtenances which benefit the Leased Property, (iv)
dedicate or transfer unimproved portions of the Leased Property for road, highway or other public purposes, (v) execute petitions to have the Leased Property annexed to any municipal corporation or utility district, (vi) execute amendments to any
covenants and restrictions affecting the Leased Property and (vii) execute and deliver any instrument, in form and substance reasonably acceptable to Landlord and Landlord’s mortgagee, necessary or appropriate to make or confirm such grants or
releases to any person, with or without consideration, but only if Landlord shall have received (x) a certificate of an authorized officer of Tenant stating that such grant or release was granted in the ordinary course of Tenant’s business,
does not materially interfere with and is not detrimental to the conduct of business on the Leased Property and does not materially impair the usefulness of the Leased Property or materially impair the fair market value of the Leased Property or
materially impair Landlord’s or Landlord’s mortgagee’s interest in the Leased Property, (y) a certificate stating the consideration, if any being paid for said sale, grant easement, license, release, right of way, petition, amendment
or other such instruments described in this Article 33, is in the opinion of Tenant fair and adequate; and (z) a duly authorized and binding undertaking of Tenant, in form and substance reasonably satisfactory to Landlord and Landlord’s
mortgagee, to remain obligated under this Lease and under any instrument executed by Tenant consenting to the assignment of Landlord’s interest in this Lease as security for indebtedness, as though such easement, license, right-of-way or other
right or privilege has not been granted or released, and to perform all obligations of the grantor or party effecting the release under such instrument of grant or release during the Term of this Lease. 
  
 33. RECORDING OF LEASE: 
  
 Landlord and Tenant will execute, acknowledge, deliver and cause to be
recorded or filed in the manner and place required by any present or future law a memorandum of this Lease or, if required by law, this Lease, and all other instruments, including, without limitation, financing statements, continuation statements,
releases and instruments or similar character, which shall be reasonably requested by Landlord or Tenant as being necessary or appropriate in order to protect their respective interests in the Leased Property or to publish notice of or to create,
maintain and protect or terminate or release the lien and security interest intended to be created by any mortgage upon, and the interest of Landlord’s mortgagee in, the Leased Property. If either Landlord or Tenant shall fail to comply with
this paragraph, Tenant or Landlord, as the case may be, shall be and is hereby irrevocably appointed the agent and attorney-in-fact of Landlord or Tenant, as the case may be, to comply therewith, but this sentence shall not prevent any default in
the observance of this Article 33 by the Tenant from constituting an Event of Default hereunder. 
  
 34. RELATIONSHIP OF PARTIES. 
  
 Nothing contained in this Lease shall be construed in any manner to create any relationship between the Landlord and the Tenant other than the
relationship of landlord and tenant. Without limitation, the Landlord and the Tenant are independent parties and shall not be considered partners or co-venturers for any purpose on account of this Lease. 
  
 35. ACCESS TO LEASED PROPERTY. 
  
 The Tenant will permit the Landlord, any Landlord’s mortgagee and their
duly authorized representatives to enter upon the Leased Property and to inspect the same at any and all 
  

 41 

 reasonable times during normal business hours, upon reasonable advance notice if they take precautions not to
unreasonably inconvenience Tenant or any persons occupying the Leased Property in accordance with this Lease and are accompanied by an employee or other representative of Tenant at all times during such entry and inspection, and at any time in the
case of emergency (as such is described in Article 19) without the giving of notice, and for purposes reasonably related to the rights of the Landlord, and any Landlord’s mortgagee under this Lease. Tenant may designate certain areas of the
Leased Property as “Secured Areas” should Tenant require such areas for the purpose of securing certain valuable property or confidential information. Landlord may not enter such Secured Areas except in the case of emergency, as set forth
in Articles 10 and 19 hereof. 
  
 36. BROKER.

  
 The Tenant and the Landlord each represents to the other that
it has dealt with no brokers in connection with this Lease and the transactions contemplated hereby, other than Wells Hill Partners, Ltd. Any fees any commissions payable to Wells Hill Partners, Ltd. shall be paid by Tenant. 
  
 37. TRUE LEASE. 
  
 This Lease is intended as, and shall constitute, an agreement of lease, and
nothing herein shall be construed as conveying to the Tenant any right, title or interest in or to the Leased Property nor to any remainder or reversionary estates in the Lease Property except, in each instance, as a lessee. 
  
 38. ARBRITATION OF DISPUTES: 
  
 DISPUTE RESOLUTION: NOTICE: BY INITIALLING IN THE SPACE BELOW, YOU ARE
AGREEING TO HAVE ANY DISPUTE ARISING OUT OF THE MATTERS INCLUDED IN THE DISPUTE RESOLUTION PROVISION DECIDED BY NEUTRAL ARBITRATION AS PROVIDED BY CALIFORNIA LAW AND YOU ARE GIVING UP ANY RIGHTS YOU MIGHT POSSESS TO HAVE THE DISPUTE LITIGATED IN A
COURT BY JURY TRIAL. BY INITIALLING IN THE SPACE BELOW YOU ARE GIVING UP YOUR JUDICIAL RIGHTS TO DISCOVERY AND APPEAL UNLESS SUCH RIGHTS ARE SPECIFICALLY INCLUDED IN THE DISPUTE RESOLUTION PROVISION. IF YOU REFUSE TO SUBMIT TO ARBITRATION AFTER
AGREEING TO THIS PROVISION, YOU MAY BE COMPELLED TO ARBITRATE UNDER THE AUTHORITY OF THE CALIFORNIA CODE OF CIVIL PROCEDURE. YOUR AGREEMENT TO THIS ARBITRATION IS VOLUNTARY. 
  
 WE HAVE READ AND UNDERSTAND THE FOREGOING AND AGREE TO SUBMIT DISPUTES ARISING OUT OF THE MATTERS INCLUDED IN THE DISPUTE
RESOLUTION PROVISION TO NEWTRAL ARBITRATION. 
  

			
	
	 	

	 INITIALS
	 	 INITIALS

  

 42 

 ANY CONTROVERSY OR CLAIM ARISING OUT OF OR RELATING TO THIS LEASE OR ANY AGREEMENTS OR INSTRUMENTS
RELATING HERETO OR DELIVERED IN CONNECTION HEREWITH, INCLUDING, BUT NOT LIMITED TO, A CLAIM BASED ON OR ARISING FROM AN ALLEGED TORT WILL, AT THE REQUEST OF ANY PARTY BE DETERMINED BY ARBITRATION IN ACCORDANCE WITH THE FEDERAL ARBITRATION ACT (9
U.S.C.SECTION 1 ET. SEQ.), SUBJECT TO THE TERMS OF THIS PROVISION, UNDER THE AUSPICES AND RULES OF THE AMERICAN ARBITRATION ASSOCIATION (“AAA”). THE AAAWILL BE INSTRUCTED BY EITHER OR BOTH PARTIES TO PREPARE A LIST OF THREE JUDGES WHO HAVE
RETIRED FROM THE SUPERIOR COURT OF THE STATE OF CALIFORNIA, A HIGHER CALIFORNIA COURT OR ANY FEDERAL COURT. WITHIN 10 DAYS OF RECEIPT OF THE LIST, EACH PARTY MAY STRIKE ONE NAME FROM THE LIST. THE ARBITRATION WILL BE CONDUCTED IN SAN FRANSISCO, LOS
ANGELES OR SAN DIEGO, WHICH EVER IS THE CLOSEST SITY TO THE NEXUS OF THE DISPUTE. ANY CONTROVERSY IN INTERPRETATION OR ENFORCEMENT OF THIS PROVISION OR WHETHER A DISPUTE IS ARBITRABLE, WILL BE DETERMINED BY THE ARBRITRATORS. JUDGEMENT UPON THE AWARD
RENDERED BY THE ARBITRATORS(S) MAY BE ENTERED IN ANY COURT HAVING JURISDICTION. THE INSTITUTIN AND MAINTENANCE OF AN ACTION FOR JUDICIAL RELIEF OR IN PURSUIT OF AN ANCILLARY REMEDY, DOES NOT CONSTITUTE A WAIVER OF THE RIGHT OF ANY PARTY, INCLUDING
THE PLAINTIFF, TO SUBMIT THE CONTROVERSY OR CLAIM TO ARBITRATION. THE ARBITRATION SHALL FOLLOW SUBSTANTIVE CALIFORNIA LAW IN MAKING HIS DECISION, RENDER HIS DECISION IN WRITING AND STATE THE BASIS THEREFOR, AND PERMIT REASONABLE DISCOVERY IN
ACCORDANCE WITH THE CALIFORNIA CODE OF CIVIL PROCEDURE. THE ARBITRATOR IN HIS DISCRETION MAY AWARD LEGAL FEES AND COSTS TO THE PREVAILING PARTY. 
  
 39. MISCELLANEOUS: 
  
 No term or provision hereof may be amended, changed, waived, discharged or terminated orally, but only by an instrument signed by the party against whom
enforcement thereof is sought. No failure, delay, forbearance or indulgence on the part of any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof, or as an acquiescence in any breach, nor shall any single
or partial exercise of any right, power or remedy hereunder preclude any other or further exercise thereof or the exercise of any other right, power or privilege. Any provision of this Lease which is prohibited or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or
render unenforceable such provision in any other jurisdiction. This Lease and the rights and obligations in respect hereof shall be governed by, and construed and interpreted in accordance with, the laws of the State of New York, except where the
laws of the State of California require such State’s own law to apply and except provisions of this Lease regarding the exercise of remedies, which shall be governed by the laws of the State of California. All headings 
  

 43 

 are for reference only and shall not be considered as part of this Lease. This Lease nay be executed in any number of
counterparts, each of which shall be an original, and such counterparts together shall constitute but one and the same instrument. 
  
 40. REASONABLENESS: 
  
 Except as otherwise provided herein and except for matters which (i) could have an adverse effect on the structural integrity of the Improvements, (ii)
could have as adverse effect on the mechanical, electrical life safety, pluming, sprinkler and HVAC systems, or (iii) could have an adverse effect on the exterior appearance of the Leased Property, whereupon in each such case Landlord’s duty is
to act in good faith and in compliance with the Lease, any time the consent of Landlord or Tenant is required, such consent shall not be unreasonably withheld, conditioned or delayed. Whenever this Lease grants Landlord or Tenant the right to take
action, exercise discretion, establish rules and regulations or make allocations or other determinations, Landlord and Tenant shall act reasonably and in good faith and take no action which might result in the frustration of the reasonable
expectations of a sophisticated tenant or landlord concerning the benefits to be enjoyed under this Lease. 
  
 41. ERISA 
  
 (1) Tenant represents and warrants to Landlord that, as of the date of the Lease and throughout the term of the Lease, 
  
 (a) the assets of the Tenant do not constitute “plan
assets” within the meaning of 29 C.R.F. § 2510.3-101 because one or more of the following circumstances is true: 
  
 (i) Equity interests in the parent company of Tenant are publicly offered securities within the meaning of 29 C.R.F. §
2510.3-101(b)(2); 
  
 (ii) Less than 25 percent
of all equity interests in Tenant are held by “benefit plan investors” within the meaning of 29 C.F.R. § 2510.3-101(f)(2); or 
  
 (iii) Tenant qualifies as an “operating company”, “venture capital operating company” or a “real estate
operating company” within the meaning of 29 C.F.R. § 2510.3(c), (d) or (e). 
  
 (b) As of the date of the Lease and throughout the term of the Lease: (i) Tenant will not be a “governmental plan” within the
meaning of § 3(32) of the Employee Retirement Income Security Act of 1974 (“ERISA”); and (ii) transactions by Tenant (or by Tenant’s direct or indirect owners, subsidiaries or affiliates) in connection with the Lease or the
Leased Property will not be subject to state statutes regulating investments of and fiduciary obligations with respect to governmental plans 
  
 (2) Tenant shall deliver to Landlord certifications or evidence from time to time during the term of the Lease, as requested by Landlord in its sole
discretion, that Tenant’s representations and warranties pursuant to this Article 41 remain true. 
  

 44 

 (3) Tenant shall indemnify Landlord and defend and hold Landlord harmless from and against all loss,
costs, damage and expense (including, without limitation, reasonable attorney’s fees and costs incurred in the investigation. Defense and settlement of claims and losses incurred in correcting any prohibited transaction and in obtaining any
individual prohibited transaction exemption under ERISA that may be required, in Landlord’s sole discretion) that Landlord may incur, directly or indirectly, as a result of a default under Sections 1 or 2 above. This indemnity shall survive any
termination, satisfaction or foreclosure of the Lease. 
  
 (4) (a)
Anything in Article 21 (Subletting; Assignment) or elsewhere in the Lease to the contrary notwithstanding, no sale, encumbrance, assignment or transfer of any direct or indirect interests in the Tenant or in the Premises (including, without
limitation a subleasehold interest) shall be permitted which would negate Tenant’s representations in this Article 14 or cause the Lease (or any exercise of Landlord’s rights under the Lease) to constitute a violation of any provision of
ERISA or any State Investment Statutes, as determined in Landlord’s sole discretion. 
  
 (b) Anything in the Lease to the contrary notwithstanding, upon consummation of a sale, assignment or transfer o9f any direct or indirect interest in the Tenant or in the Premises (Including, without limitation, a
subleasehold interest), Tenant shall obtain to Landlord that this Section will be true after the transfer. 
  
 -See signature Pages Attached Hereto and Made a Part Hereof- 
  

 45 

 -Signature Page to Lease- 
  
 IN WITNESS WHEREOF, Landlord and Tenant hereto have each caused This Lease to be duly executed under seal and delivered in
their respective names and behalfs, all by authority duly given, as of the day and year first above written. 
  

							
	 PREFCO XXI LIMITED PARTNERSHIP

		
	 By:
	 	 PREFCO XXI INC., general partner

		
	 By:
	 	 /s/    Michael J. Leyh

	 Name:
	 	 Michael J. Leyh

	 Title:
	 	 Vice President

  

 46 

 -Signature Page to Lease- 
  
 IN WITNESS WHEREOF, Landlord and Tenant hereto have each caused This Lease to be duly executed under seal and delivered in
their respective names and behalfs, all by authority duly given, as of the day and year first above written. 
  

							
	 BANK OF AMERICA NT & SA

		
	 By:
	 	 /s/    Jack L. Meyers

	 Name:
	 	 Jack L. Meyers

	 Title:
	 	 Vice Chairman

  

 47 

 -Signature Page to Lease- 
  
 IN WITNESS WHEREOF, Landlord and Tenant hereto have each caused This Lease to be duly executed under seal and delivered in
their respective names and behalfs, all by authority duly given, as of the day and year first above written. 
  

							
	 BANK OF AMERICA NT & SA

		
	 By:
	 	 /s/    Thomas E. Rotticci

	 Name:
	 	 Thomas E. Rotticci

	 Title:
	 	 Executive Vice President

  

 48 

 -Signature Page to Lease- 
  
 IN WITNESS WHEREOF, Landlord and Tenant hereto have each caused This Lease to be duly executed under seal and delivered in
their respective names and behalfs, all by authority duly given, as of the day and year first above written. 
  

							
	 BANK OF AMERICA NT & SA

		
	 By:
	 	 /s/    Spiro G. Kailas

	 Name:
	 	 Spiro G. Kailas

	 Title:
	 	 Vice President

  

 49Purchase and Sale Agreement

 EXHIBIT 10.126 
  
 PURCHASE AND SALE AGREEMENT FOR 1901 MARKET STREET PHILADELPHIA BUILDING 

 PURCHASE AND SALE AGREEMENT 
  
 Property Name: 1901 Market Street 
 Location: Philadelphia, Pennsylvania 
  
 Effective Date: December 17, 2003 

 TABLE OF CONTENTS 
  

					
	ARTICLE 1 - CERTAIN DEFINITIONS	  	2
		
	ARTICLE 2 - SALE	  	10
		
	ARTICLE 3 - PURCHASE PRICE	  	11
	 3.1
	  	 Earnest Money Deposit
	  	11
	 	  	 3.1.1 Payment of Deposit
	  	11
	 	  	 3.1.2 Applicable Terms; Failure to Make Deposit
	  	11
	 3.2
	  	 Cash at Closing
	  	11
		
	 ARTICLE 4 TITLE MATTERS
	  	11
	 4.1
	  	 Title to Real Property
	  	11
	 4.2
	  	 Title Defects
	  	11
	 	  	 4.2.1 Buyer’s Objections to Title; Seller’s Obligations and Rights
	  	11
	 	  	 4.2.2 Discharge of Title Exceptions
	  	13
	 	  	 4.2.3 No New Exceptions
	  	13
	 4.3
	  	 Title Insurance
	  	13
		
	 ARTICLE 5 BUYER’S DUE DILIGENCE/CONDITION OF THE PROPERTY
	  	13
	 5.1
	  	 Buyer’s Due Diligence
	  	13
	 	  	 5.1.1 Access to Property
	  	13
	 	  	 5.1.2 Limit on Government Contacts
	  	14
	 5.2
	  	 As-Is, Where-Is, With All Faults Sale
	  	14
	 5.3
	  	 Termination of Agreement During Due Diligence Period
	  	15
	 5.4
	  	 Release.
	  	16
		
	 ARTICLE 6 ADJUSTMENTS AND PRORATIONS
	  	17
	 6.1
	  	 Lease Rentals and Other Revenues
	  	17
	 	  	 6.1.1 Rents
	  	17
	 	  	 6.1.2 Other Revenues
	  	17
	 6.2
	  	 Lease Expenses
	  	17
	 6.3
	  	 [Reserved]
	  	17
	 6.4
	  	 [Reserved]
	  	17
	 6.5
	  	 Closing Costs
	  	17
	 6.6
	  	 [Reserved]
	  	18
	 6.7
	  	 Apportionment Credit
	  	18
	 6.8
	  	 Delayed Adjustment; Delivery of Operating and Other Statements
	  	18
		
	 ARTICLE 7 CLOSING
	  	19
	 7.1
	  	 Closing Date
	  	19
	 7.2
	  	 Title Transfer and Payment of Purchase Price
	  	19
	 7.3
	  	 Seller’s Closing Deliveries
	  	19
	 	  	 (a) Assignment.
	  	19
	 	  	 (b) Updated Balance Sheet.
	  	20
	 	  	 (c) Notice to Tenants
	  	20
	 	  	 (d) Non-Foreign Status Affidavit
	  	20

					
	 	  	 (e) Evidence of Authority
	  	20
	 	  	 (f) Closing Statement
	  	20
	 	  	 (g) Legal Opinion
	  	20
	 	  	 (h) Other Documents
	  	20
	 	  	 (i) Tax Returns
	  	20
	 	  	 (j) Keys and Original Documents
	  	20
	 	  	 (k) Estoppel Letter
	  	20
	 7.4
	  	 Buyer Closing Deliveries
	  	21
	 	  	 (a) Net Purchase Price
	  	21
	 	  	 (d) Evidence of Authority
	  	21
	 	  	 (e) Closing Statement
	  	21
	 	  	 (f) Other Documents
	  	22
	 	  	 (g) Tax Returns
	  	22
		
	 ARTICLE 8 CONDITIONS TO CLOSING
	  	22
	 8.1
	  	 Conditions to Seller’s Obligations
	  	22
	 	  	 (a) Prudential Note
	  	22
	 	  	 (b) Representations True
	  	22
	 	  	 (c) Buyer’s Financial Condition
	  	22
	 	  	 (d) Buyer’s Deliveries Complete
	  	22
	 8.2
	  	 Conditions to Buyer’s Obligations
	  	23
	 	  	 (a) Representations of Seller True
	  	23
	 	  	 (b) Title Conditions Satisfied
	  	23
	 	  	 (c) Seller’s Deliveries Complete
	  	23
	 	  	 (d) Prudential Representations True
	  	23
	 	  	 (e) Prudential Conveyance of LLC Interests
	  	23
	 	  	 (f) Financial Condition
	  	23
	 	  	 (g) Prudential Note Satisfied
	  	23
	 8.3
	  	 Waiver of Failure of Conditions Precedent
	  	24
	 8.4
	  	 Approvals not a Condition to Buyer’s Performance
	  	24
		
	 ARTICLE 9 REPRESENTATIONS AND WARRANTIES
	  	24
	 9.1
	  	 Buyer’s Representations
	  	24
	 	  	 9.1.1 Buyer’s Authorization
	  	24
	 	  	 9.1.2 Buyer’s Financial Condition
	  	25
	 	  	 9.1.3 Investment Intent
	  	25
	 9.2
	  	 Seller’s Representations
	  	25
	 	  	 9.2.1 Seller’s Authorization
	  	25
	 	  	 9.2.2 Seller’s Representations with respect to the Property
	  	25
	 	  	 9.2.3 Representations of Seller and Prudential with respect to the Option and the LLC Interests
	  	26
	 	  	 9.2.4 Representations of Seller and Prudential With Respect to 1901 Market.
	  	27
	 	  	 9.2.5 Designated Employees
	  	31
	 9.3
	  	 Representations of Prudential
	  	32
	 	  	 9.3.1 Prudential’s Authorization
	  	32

  

 - ii - 

					
	 	  	 9.3.2 Prudential’s Financial Condition
	  	32
	 9.4
	  	 General Provisions
	  	32
	 	  	 9.4.1 No Representations as to Leases
	  	32
	 	  	 9.4.2 Seller’s Property Warranties Deemed Modified
	  	32
	 	  	 9.4.3 Notice of Breach; Seller’s Right to Cure
	  	32
	 	  	 9.4.4 Survival; Limitation on Seller’s Liability
	  	33
	 	  	 9.4.5 Seller’s and Prudential’s Indemnification Obligations
	  	34
	 	  	 9.4.6 Claims.
	  	35
	 	  	 9.4.7 Survival.
	  	36
		
	 ARTICLE 10 COVENANTS
	  	36
	 10.1
	  	 Buyer’s Covenants
	  	36
	 	  	 10.1.1 Confidentiality
	  	36
	 	  	 10.1.2 Buyer’s Indemnity
	  	36
	 	  	 10.1.2 Change in Name
	  	37
	 10.2
	  	 Seller’s Covenants
	  	37
	 	  	 10.2.1 Service Contracts
	  	37
	 	  	 10.2.2 Rents
	  	37
	 	  	 10.2.3 Further Encumbrances
	  	37
	 	  	 10.2.4 Ordinary Course of Business
	  	37
	 	  	 10.2.7 Employees
	  	38
	 	  	 10.2.8 No Action
	  	38
	 	  	 10.2.9 Cooperation with Buyers, Auditors and Security Requirements
	  	38
	 10.3
	  	 Mutual Covenants
	  	39
	 	  	 10.3.1 Publicity
	  	39
	 	  	 10.3.2 Brokers
	  	39
	 	  	 10.3.3 Tax Protests, Tax Refunds and Credits
	  	39
	 	  	 10.3.4 Preservation of Records
	  	41
	 10.4
	  	 Survival
	  	41
		
	 ARTICLE 11 FAILURE OF CONDITIONS
	  	41
	 11.1
	  	 To Seller’s Obligations
	  	41
	 11.2
	  	 To Buyer’s Obligations
	  	42
	 11.3
	  	 Termination of the Brea Purchase Agreement
	  	43
		
	ARTICLE 12 CONDEMNATION/CASUALTY	  	43
	 12.1
	  	 Right to Terminate
	  	43
	 12.2
	  	 Allocation of Proceeds and Awards
	  	43
	 12.3
	  	 Waiver.
	  	44
		
	 ARTICLE 13 ESCROW
	  	44
	 13.1
	  	 Deposit
	  	44
	 13.2
	  	 Delivery
	  	44
	 13.3
	  	 Failure of Closing
	  	44
	 13.4
	  	 Stakeholder
	  	44
	 13.5
	  	 Taxes
	  	45

  

 - iii - 

					
	 13.6
	  	 Execution by Escrow Agent
	  	45
		
	 ARTICLE 14 LEASE EXPENSES
	  	45
	 14.1
	  	 New Leases; Lease Modifications
	  	45
	 14.2
	  	 Lease Enforcement
	  	45
	 14.3
	  	 Lease Expenses
	  	46
		
	 ARTICLE 15 MISCELLANEOUS
	  	46
	 15.1
	  	 Buyer’s Assignment
	  	46
	 15.2
	  	 Designation Agreement
	  	46
	 15.3
	  	 Survival/Merger
	  	47
	 15.4
	  	 Integration/Waiver
	  	47
	 15.5
	  	 Governing Law
	  	47
	 15.6
	  	 Captions Not Binding; Exhibits
	  	47
	 15.7
	  	 Binding Effect
	  	47
	 15.8
	  	 Severability
	  	47
	 15.9
	  	 Notices
	  	47
	 15.10
	  	 Counterparts
	  	49
	 15.11
	  	 No Recordation
	  	49
	 15.12
	  	 Additional Agreements; Further Assurances
	  	49
	 15.13
	  	 Construction
	  	49
	 15.14
	  	 Consent of Prudential
	  	49
	 15.15
	  	 Maximum Aggregate Liability
	  	50
	 15.16
	  	 Time of The Essence
	  	50
	 15.17
	  	 Waiver of Jury Trial
	  	50
	 15.18
	  	 Facsimile Signatures
	  	50

  

 - iv - 

 EXHIBITS 
  

			
	A.	 	Legal Description
		
	B.	 	List of Contracts
		
	C.	 	[Reserved]
		
	D.	 	Assignment and Assumption Agreement
		
	E.	 	Vendor’s Title Affidavit
		
	F.	 	Form of Auditor Letter
		
	G.	 	Form of Seller’s Legal Opinion
		
	H.	 	Form of Notice to Tenants
		
	I.	 	Form of Seller’s Non-Foreign Certificate
		
	J.	 	Certificate of Assistant Secretary
		
	K.	 	Form of Closing Statement Agreement
		
	L.	 	[Reserved]
		
	M.	 	Form of Tenant Estoppel Letter
		
	N.	 	[Reserved]
		
	O.	 	Litigation Notices, Contract Defaults, Governmental Violations
		
	P.	 	List Of Tenants
		
	Q.	 	Taxes and Judgments

  
  

 - v - 

 PURCHASE AND SALE AGREEMENT 
  
 THIS PURCHASE AND SALE AGREEMENT (this “Agreement”) is made as of December 17, 2003, by and between PIC
REALTY CORPORATION, a Delaware corporation (“PIC” or “Seller”), THE PRUDENTIAL INSURANCE COMPANY OF AMERICA, a New Jersey corporation (“Prudential”), WELLS 1901 MARKET BUSINESS TRUST, a Delaware
business trust (“Buyer”), and PRU 1901 MARKET LLC, a Delaware limited liability company (the “Company”). 
  
 W I T N E S S E T H: 
  
 WHEREAS, the Company is the owner in fee simple of that certain parcel or tract of land (the “Land”) located at 1901 Market Street in
Philadelphia, Pennsylvania (the Land is more particularly described in Exhibit A attached hereto) and the existing 48 story office building and underground garage located thereon (the “Building”). 
  
 WHEREAS, the Company was originally formed with Prudential as its sole member
owning all of the legal and beneficial interests in the Company; 
  
 WHEREAS, PIC is a wholly-owned subsidiary of Prudential; 
  
 WHEREAS, intending to make a capital contribution of the beneficial interests in the Company to PIC, Prudential and PIC simultaneously entered into (i) a capitalization agreement (the “Capitalization Agreement”) and (ii) an option
agreement (the “Option Agreement”), each dated August 31, 2003 pursuant to which Prudential granted to PIC an option to acquire all or a portion of the legal title to the membership interests in the Company (the “LLC Interests”)
for ten dollars ($10.00) (the “Option”). 
  
 WHEREAS,
Seller and Wells Brea I, L.P. (“Wells Brea”), a Delaware limited partnership, have as of the Effective Date hereof, entered into the Brea Purchase Agreement with respect to the sale of real property owned by Seller in Brea, Orange County,
California, the closing of which is conditioned on the simultaneous closing of the acquisition of the Option and LLC Interests as contemplated herein, and Prudential and Buyer have, as of the Effective Date hereof, entered into that certain
agreement with respect to the acquisition of the legal title to the LLC Interests pursuant to the exercise of the Option (the “Option Exercise Agreement”). 
  
 Subject to the terms and conditions hereof, Buyer desires to purchase from Seller, and Seller desires to sell to Buyer, all
of Seller’s legal and beneficial interest, in and rights to the Option, the Option Agreement and the LLC Interests. 
  
 In consideration of the mutual covenants and agreements set forth herein, and intending to be legally bound hereby, the parties hereto do hereby agree as
follows: 

 ARTICLE 1 - CERTAIN DEFINITIONS 
  
 As used herein, the following terms shall have the following meanings: 
  
 “Brea Purchase Agreement” shall mean that certain
Purchase and Sale Agreement between Seller, as seller, and Wells Brea, as buyer, dated the date hereof. 
  
 “Building” shall be as described in the Recitals. 
  
 “Business Day” shall mean any day other than a Saturday, Sunday, or any federal or state of
Pennsylvania holiday. If any period expires on a day which is not a Business Day or any event or condition is required by the terms of this Agreement to occur or be fulfilled on a day which is not a Business Day, such period shall expire or such
event or condition shall occur or be fulfilled, as the case may be, on the next succeeding Business Day. 
  
 “Buyer’s Reports” shall mean the results of any examinations, inspections, investigations, tests, studies, analyses,
appraisals, evaluations and/or investigations prepared by or for or otherwise obtained by Buyer or Buyer’s Representatives in connection with Buyer’s Due Diligence. 
  
 “Buyer’s Representatives” shall mean Buyer, any direct or indirect owner of any beneficial
interest in Buyer, and any officers, directors, employees, agents, representatives, accountants, professional consultants, financial advisors and attorneys of Buyer or any such direct or indirect owner of any beneficial interest in Buyer and any
rating agencies or potential lenders. 
  
 “Closing” shall mean the closing of the Transaction. 
  
 “Closing Date” shall mean the fifth calendar day after the date upon which the latest of the following occurs: (i) the Seller has delivered to the Buyer the estoppel certificate from the
Required Tenant in the form required by Section 7.3(k) hereof; (ii) the expiration of the Due Diligence Period; and (iii) Buyer’s receipt of the updated Survey required by Section 4.2.1(a) hereof; provided, however, the
Closing Date shall be extended to the date upon which the closing shall occur under the Brea Purchase Agreement. Notwithstanding the preceding, in no event shall the Closing Date be later than December 31, 2003, as the same may be extended pursuant
to the express terms of this Agreement. 
  
 “Closing
Tax Year” shall mean the Tax Year in which the Closing Date occurs. 
  
 “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time, or any corresponding federal tax stature enacted after the date of this Agreement. A reference to a specific
section (§) of the Code refers not only to such specific section but also to any corresponding provision of any federal tax statute enacted after the date of this Agreement, as such specific section or corresponding provision is in effect on
the date of application of the provisions of this Agreement containing such reference. 
  

 - 2 - 

 “Confidential Materials” shall mean any books, computer software, records or
files (whether in a printed or electronic format) that consist of or contain any of the following: appraisals; budgets; strategic plans for the Property; internal analyses; information regarding the marketing of the Property for sale; submissions
relating to obtaining internal authorization for the sale of the Property by Seller or any direct or indirect owner of any beneficial interest in Seller; attorney and accountant work product; attorney-client privileged documents; internal
correspondence of Seller, any direct or indirect owner of any beneficial interest in Seller, or any of their respective affiliates and correspondence between or among such parties; or other information in the possession or control of Seller, or any
direct or indirect owner of any beneficial interest in Seller or the Company which such party has reasonably designated as proprietary, privileged or confidential. 
  
 “Contracts” shall mean, to the extent the Company is a party thereto, all service, supply,
maintenance, utility and commission agreements, all equipment leases, and all other contracts, subcontracts and agreements relating to the Real Property and the Personal Property (including all contracts, subcontracts and agreements relating to the
construction of any unfinished tenant improvements but excluding all Leases), all of which are described in Exhibit B attached hereto and incorporated herein by this reference, together with any additional contracts, subcontracts and
agreements entered into in accordance with the terms of Subsection 10.2.1 hereof and as the same may be modified or terminated in accordance with the terms of Subsection 10.2.1. 
  
 “Deemed to know” (or words of similar import) shall
have the following meaning: (a) Buyer shall be “deemed to know” of the existence of a fact or circumstance to the extent that such fact or circumstance is disclosed by this Agreement, the Documents, any estoppel certificate executed by any
tenant of the Property and delivered to Buyer or any Buyer’s Representatives, or any studies, tests, reports, or analyses prepared by or for or otherwise obtained by Buyer or Buyer’s Representatives; and (b) Buyer shall be “deemed to
know” that a representation or warranty is untrue, inaccurate or incorrect to the extent that this Agreement, the Documents, any estoppel certificate executed by any tenant of the Property and delivered to Buyer or any Buyer’s
Representatives, or any studies, tests, reports or analyses prepared by or for or otherwise obtained by Buyer or Buyer’s Representatives contains information which is inconsistent with such representation or warranty. 
  
 “Deposit” shall mean the sum of Two Million and
No/100 Dollars ($2,000,000.00), to the extent the same is deposited by Buyer in accordance with the terms of Subsection 3.1.1 hereof, together with any interest earned thereon.  
  
 “Designated Employees” shall mean Peter L. Ruggiero
and Allen J. Green. 
  
 “Documents” shall
mean the documents and instruments applicable to the Property or any portion thereof that Seller or any of the other Seller Parties deliver or make available to Buyer or Buyer’ Representatives prior to Closing or which are otherwise obtained by
Buyer or Buyer’s Representatives prior to Closing, including, but not limited to, the Title Commitment, the Survey, the Title Documents, and the Property Documents. 
  

 - 3 - 

 “Due Diligence” shall mean examinations, inspections, investigations, tests,
studies, analyses, appraisals, evaluations and/or investigations with respect to the Property, the Documents, and other information and documents regarding the Property, including, without limitation, examination and review of title matters,
applicable land use and zoning Laws and other Laws applicable to the Property, the physical condition of the Property, and the economic status of the Property. 
  

“Due Diligence Period” shall mean the period commencing prior to the execution of this Agreement and expiring on November 28,
2003. 
  
 “Effective Date” shall mean the
date on which Buyer and Seller have executed this Agreement and Seller has delivered a fully executed counterpart of this Agreement to Buyer. 
  
 “Employee Benefit Arrangement” shall mean (i) any employment, severance or similar contract or arrangement whether or not written,
(ii) any plan, policy, fund, program or contract or arrangement (formal or informal, oral or written, legally binding or not) providing for compensation, bonus, collective bargaining, profit-sharing, stock option stock purchase or other stock
related rights or other forms of incentive or deferred compensation, vacation benefits, insurance coverage (including any self-insured arrangements) health or medical benefits, disability benefits, fringe benefits, workers’ compensation,
supplemental unemployment benefits, severance benefits and post-employment or retirement benefits (including compensation, pension, health, medical or life insurance or other benefits), (iii) any “group health plan” as defined in Section
5000(b)(1) of the Code, (iv) any “employee benefit plans” (as defined in Section 3(3) of ERISA), or (v) any “employee pension plans” (as defined in Section 3(2) of ERISA), and, subject to Title IV of ERISA or Section 412 of the
Code, maintained by Prudential or Seller or any subsidiary thereof or any trade or business (whether or not incorporated) which is under the control, or which is treated as a single employer, with any Person under Section 414(b), (c), (m) or (o) of
the Code. 
  
 “ERISA” shall mean the
Employee Retirement Income Security Act of 1974, as amended. 
  
 “Escrow Agent” shall mean the Title Company, whose mailing address is Two Penn Center Plaza, Suite 1910, 1500 J.F. Kennedy Boulevard, Philadelphia, PA 19102, in its capacity as escrow agent. 
  
 “Governmental Authority” shall mean any federal,
state or local court, tribunal, governmental department, agency, board or commission, regulatory authority, or other governmental body, subdivision or instrumentality. 
  
 “IBC Lease” shall mean that certain lease dated as of November 16, 1998, between Required Tenant, as
tenant, and the Company, as landlord. 
  
 “Indebtedness” of any person shall mean, at any time and without duplication, (i) all obligations of such Person for borrowed money or for the deferred purchase price of property or services (including,
without limitation, all obligations, contingent or otherwise, of such Person in 
  

 - 4 - 

 connection with letter of credit facilities and acceptance facilities), (ii) all obligations of such Person evidenced by
bonds, notes, debentures, debt securities, book-entry or other similar instruments, (iii) all obligations of such Person created or arising under any conditional sale or lease or other title retention agreement with respect to property acquired by
such Person (even though the rights and remedies of the seller or lender under such agreement in the event of default are limited to repossession or sale of such property), (iv) all capitalized lease obligations of such Person (exclusive of
capitalized lease obligations relating to furniture, fixtures and equipment used in the operation of the Property) and (v) all obligations of another Person of a type referred to in the preceding clauses (i) through (iv) as to which such
first-mentioned Person has agreed to act as surety indemnitor, endorser, guarantor or other obligor. 
  
 “Land” shall be as described in the Recitals. 
  
 “Laws” shall mean all municipal, county, state or federal statutes, codes, ordinances, laws, rules
or regulations. 
  
 “Leases” shall mean
all Seller’s interest in the leases for tenants of the Real Property on the Closing Date (including, without limitation, the IBC Lease and all New Leases) and all guaranties of such leases, if any. 
  
 “Liabilities” shall mean, collectively, any and all
losses, costs, damages, claims, liabilities, expenses, demands or obligations of any kind or nature whatsoever. 
  
 “Liens” shall mean any and all mortgages, pledges, claims, liens, security interests, options, warrants, purchase rights, selling
restrictions, charges, charging orders, imperfections of title, rights of way, easements, and encumbrances of any kind. 
  
 “LLC Agreement” shall mean the Limited Liability Company Operating Agreement for 1901 Market LLC dated as of November 6, 1998, as
amended by that certain amendment dated as of August 25, 2003. 
  
 “Major Casualty/Condemnation” shall mean: 
  

	 	(a)	with respect to any condemnation or eminent domain proceedings that occurs after the date hereof, the portion of the Property that is the subject of such proceedings has a value in
excess of One Hundred Thousand and no/100 Dollars ($100,000.00), as reasonably determined by Seller; and 

  

	 	(b)	with respect to any casualty that occurs after the date hereof, either (i) the casualty is an uninsured casualty and Seller, in its sole and absolute discretion, does not elect to
cause the damage to be repaired or restored or give Buyer a credit at Closing for such repair or restoration, or (ii) the portion of the Property that is damaged or destroyed has a cost of repair that is in excess of One Hundred Thousand and no/100
Dollars ($100,000.00), as reasonably determined by Seller. 

  

 - 5 - 

 “Net Purchase Price” shall mean an amount equal to the Purchase Price less all
amounts outstanding under the Prudential Note as of the Closing Date. 
  
 “New Leases” shall mean, collectively, any lease for space at the Property entered into between the date of this Agreement and the Closing Date. 
  
 “Option Exercise Agreement” shall be as described in the Recitals. 
  
 “Other Property Rights” shall mean, collectively, the
Company’s interest (if any) in and to (if any) all of the following: (a) to the extent that the same are in effect as of the Closing Date, any licenses, permits and other written authorizations necessary for the use, operation or ownership of
the Real Property, (b) the Company’s interest in all plans, specifications, licenses and permits relating to the ownership or use or operation of the real estate and improvements, and (c) any guaranties and warranties and other
intangible property of the Company in effect with respect to any portion of the Real Property or the Personal Property as of the Closing Date. 
  
 “Owner’s Title Policy” shall mean an ALTA Owner’s Form of title insurance policy (or such other comparable form of title
insurance policy as is available in the jurisdiction in which the Real Property is located) in accordance with the Title Commitment, in the amount of the Purchase Price. 
  
 “Permitted Exceptions” shall mean and include all of the following, subject to the rights of Buyer
to object to matters of title and survey pursuant to Article 4 hereof and the right of Buyer to terminate this Agreement pursuant to Article 5 hereof: (a) applicable zoning and building ordinances and land use regulations, (b) all liens,
encumbrances, covenants, conditions, restrictions, easements and other matters of record, except to the extent that the same are caused or created by Seller or the Company in violation of the terms of Subsection 4.2.3, (c) such exceptions to
title as are listed on Schedule B of the Title Commitment, (d) such state of facts as may be disclosed in an accurate survey of the Real Property, (e) the lien of taxes and assessments not yet due and payable, (f) any exceptions caused by Buyer or
any Buyer’s Representative, (g) the rights of the tenants under the Leases, and (h) any matters deemed to constitute additional Permitted Exceptions under Subsection 4.2.1 hereof. 
  
 “Person” shall mean any natural person, corporation,
limited partnership, limited liability company, limited liablity partnership, general partnership, joint stock company, joint venture, real estate investment trust, association, company, trust, bank, trust company, and trust, vehicle trust, business
trust or other organization irrespective of whether it is a legal entity, or any government or agency or political subdivision thereof. 
  
 “Personal Property” shall mean all tangible personal property owned by the Company (excluding any computer software which either
(a) is licensed to the Company, or (b) the Company deems proprietary), located on the Real Property and used in the ownership, operation and maintenance of the Real Property and all non-confidential books, records and files (excluding any
appraisals, budgets, strategic plans for the Real Property, internal analyses, information regarding the marketing of the Property for sale, submissions relating to Seller’s obtaining of corporate authorization, attorney and accountant work
product, attorney-client 
  

 - 6 - 

 privileged documents, or other information in the possession or control of Seller, or any of the Seller Parties if any,
which Seller reasonably designated as proprietary) relating to the Real Property. 
  
 “PIC” shall mean PIC Realty Corporation, a Delaware corporation, the Seller as described herein. 
  
 “Property” shall mean, collectively, (a) the Real Property, (b) the Personal Property, (c) the
Company’s interest as landlord in all Leases; (d) the Contracts, and (e) the Other Property Rights. 
  
 “Property Documents” shall mean, collectively, (a) the Leases, (b) the Contracts, and (c) any other documents or instruments which
constitute, evidence or create any portion of the Property. 
  
 “Prudential” shall mean The Prudential Insurance Company of America, a New Jersey corporation 
  
 “Prudential Note” shall mean that certain Term Note dated November 18, 1998 in the original principal amount of $160,000,000 by
the Company in favor of Prudential, as amended on May 23, 2000. 
  
 “Purchase Price” shall mean the sum of One Hundred Seventy-Four Million and No/100 Dollars ($174,000,000.00). 
  
 “Real Property” shall mean the Land and the Building, and all fixtures and improvements thereon owned by the Company as of the
Closing Date, and all right, title and interest, if any, that the Company may have in and to all rights, privileges and appurtenances pertaining thereto including all of the Company’s right, title and interest, if any, in and to all
rights-of-way, open or proposed streets, alleys, easements, strips or gores of land adjacent thereto; provided, however, that in the event of any condemnation or casualty that occurs after the date hereof, the term “Real Property” shall
not include any of the foregoing that is destroyed or taken as a result of any such condemnation proceeding. 
  
 “Reimbursable Lease Expenses” shall mean, collectively, any and all costs, expenses and fees paid by the Company prior to Closing
or costs, expenses and fees incurred by the Company (which, if not stipulated as to amount in the applicable lease document, shall be reasonable) prior to Closing arising out of or in connection with (a) any extensions, renewals or expansions under
any Lease exercised or granted between the date of this Agreement and the Closing Date, and (b) to the extent approved by Buyer, in writing or by deemed approval as set forth in Section 14.1, any New Lease. Reimbursable Lease Expenses shall
include, without limitation, (i) brokerage commissions and fees to effect any such leasing transaction, (ii) expenses incurred for repairs, improvements, equipment, painting, decorating, partitioning and other items to satisfy the tenant’s
requirements with regard to such leasing transaction, (iii) legal fees for services in connection with the preparation of documents and other services rendered in connection with the effectuation of the leasing transaction, (iv) if there are any
rent 
  

 - 7 - 

 concessions covering any period that the tenant has the right to be in possession of the demised space, the rents that
would have accrued during the period of such concession prior to the Closing Date as if such concession were amortized over (A) with respect to any extension or renewal, the term of such extension or renewal, (B) with respect to any expansion, that
portion of the term remaining under the subject Lease after the date of any expansion, or (C) with respect to any New Lease, the entire initial term of any such New Lease, and (v) expenses incurred for the purpose of satisfying or terminating the
obligations of a tenant under a New Lease to the landlord under another lease (whether or not such other lease covers space in the Property). 
  
 “Remove” with respect to any exception to title shall mean that Seller or the Company causes the Title Company to remove or
affirmatively insure over the same as an exception to the Owner’s Title Policy for the benefit of Buyer, without any additional cost to Buyer, whether such removal or insurance is made available in consideration of payment, bonding, indemnity
of Seller or otherwise; provided, however, that Seller shall not be permitted to Remove any Title Objection (other than liens evidencing monetary encumbrances) by “insuring over” such Title Objection without the consent of Buyer,
which consent shall not be unreasonably withheld or delayed. 
  
 “Rents” shall mean all base rents, percentage rents, additional rent and any tax and operating expense reimbursements and escalations due from the tenants of the Property under the Leases. 
  
 “Required Removal Exceptions” shall mean,
collectively, any Title Objections to the extent (and only to the extent) that the same (a) have not been caused by Buyer or any Buyer’s Representatives, and (b) are either: 
  

	 	(i)	liens evidencing monetary encumbrances (other than liens for non-delinquent general real estate taxes or assessments or related to the Prudential Note) (“Monetary
Liens”) which can be Removed by payment of liquidated amounts but only if such Monetary Liens have been created by written instrument signed by the Company or assumed by written instrument signed by the Company or which arise from written
agreements signed by the Company, and provided that because PIC is the Seller (and may become subject to judgments unrelated to the Property), in no event shall Seller be required to Remove any such Monetary Lien which is not related to the
operation of the Property by any method other than indemnity of Seller in favor of the Title Company (for example, unrelated items would include a judgment against PIC in connection with its other operations; whereas a mechanic’s lien for work
on the Property pursuant to a contract entered into by the Company would be related to Property operations), or 

  

	 	(ii)	liens or encumbrances (including, but not limited to, Monetary Liens) created by Seller or the Company after the date of this Agreement in violation of Subsection 4.2.3.

  
 “Required Tenant” shall
mean Independence Blue Cross. 
  

 - 8 - 

 “Seller-Allocated Amounts” shall mean, collectively: 
  

	 	(a)	with respect to any condemnation or eminent domain proceedings with respect to any portion of the Property that occurs after the date hereof, (i) the costs, expenses and fees,
including reasonable attorneys’ fees, expenses and disbursements, incurred by Seller or any Seller Party in connection with obtaining payment of any award or proceeds in connection with any such condemnation or eminent domain proceedings, and
(ii) any portion of any such award or proceeds that is allocable to loss of use of the Property prior to Closing; and 

  

	 	(b)	with respect to any casualty to any portion of the Property that occurs after the date hereof, (i) the costs, expenses and fees, including reasonable attorneys’ fees, expenses
and disbursements, incurred by Seller or any Seller Party in connection with the negotiation and/or settlement of any casualty claim with an insurer with respect to the Property, (ii) the proceeds of any rental loss, business interruption or similar
insurance that are allocable to the period prior to the Closing Date, and (iii) the reasonable and actual costs incurred by Seller in stabilizing the Property following a casualty. 

  
 “Seller” shall mean PIC Realty Corporation, a
Delaware corporation (the “Seller” as defined above). 
  
 “Seller Parties” shall mean and include, collectively, (a) Seller; (b) its counsel; (c) Seller’s Broker; (d) the Company’s property manager, if any, (e) any direct owner of any beneficial interest in
Seller, (f) any officer, director, employee, or agent of Seller, its counsel, Seller’s Broker, the Company’s property manager, if any, or any direct owner of any beneficial interest in Seller; (g) the Company and (h) any other entity or
individual affiliated or related in any way to any of the foregoing. 
  
 “Seller’s Broker” shall mean Eastdil Realty Company, L.L.C. 
  
 “Seller’s Knowledge” or words of similar import shall refer only to the actual knowledge of the Designated Employees and
shall not be construed to refer to the knowledge of any other Seller Party, or to impose or have imposed upon the Designated Employees any duty to investigate the matters to which such knowledge, or the absence thereof, pertains, including, but not
limited to, the contents of the files, documents and materials made available to or disclosed to Buyer or the contents of files maintained by the Designated Employees. There shall be no personal liability on the part of the Designated Employees
arising out of any of the Seller’s Warranties. 
  
 “Seller’s Entity Warranties” shall mean Seller’s and Prudential’s warranties and representations contained in Sections 9.2.3 and 9.2.4. 
  
 “Seller’s Property Warranties” shall mean
Seller’s representations and warranties set forth in Sections 9.2.1 and 9.2.2. 
  

 - 9 - 

 “Seller’s Warranties” shall mean, collectively, Seller’s Entity
Warranties and Seller’s Property Warranties. 
  
 “Survey” shall mean the ALTA/ACSM survey of the Property by Barton & Martin Engineers dated October 30, 1998, which shall be updated in accordance with Article 4 hereof. 
  
 “Taxes” shall mean all taxes, charges, fees, levies
or other assessments, including, without limitation, all net income, gross income, gross receipts, sales, use, service, service use, ad valorem, transfer, franchise, profits, license, lease, withholding, social security, payroll, employment, excise,
estimated, severance, stamp, recording, occupation, personal property, gift, windfall profits or other taxes, customs, duties, fees, assessments or charges of any kind whatsoever, whether computed on a separate consolidated, unitary, combined or
other basis, together with any interest, fines, penalties, additions to tax or other additional amounts imposed thereon or with respect thereto imposed by any taxing authority (domestic or foreign). 
  
 “Tax Return” shall mean all federal, state, local and
foreign income, franchise, sales and other returns, reports or related documents required to be filed with respect to Taxes. 
  
 “Tax Year” shall mean the year period commencing on January 1 of each calendar year and ending on December 31 of each calendar
year. 
  
 “Title Commitment” shall mean
that certain commitment to issue an Owner’s Policy of Title Insurance with respect to the Property to be issued by the Title Company. 
  
 “Title Company” shall mean First American Title Insurance Company. 
  
 “Title Documents” shall mean all recorded documents referred to on Schedule B of the Title
Commitment as exceptions to coverage. 
  
 “Title
Objections” shall mean any exceptions to title to which Buyer is entitled and timely objects in accordance with the terms of Subsection 4.2.1(a). 
  
 “Transaction” shall mean the transactions contemplated by this Agreement. 
  
 “Treasury Regulations” shall mean the proposed
temporary and final regulations of the United States Department of Treasury promulgated under the Code. 
  
 “Wells” shall mean Wells Operating Partnership, L.P., a Delaware limited partnership. 
  
 “Wells Brea” shall mean Wells Brea I, L.P., a
Delaware limited partnership. 
  
 ARTICLE 2 - SALE

  
 Seller agrees to sell, transfer and assign and Buyer
agrees to purchase, accept and assume, subject to the terms and conditions set forth in this Agreement and the Exhibits attached hereto, all of Seller’s right, title and interest in and to the Option, the Option Agreement, and the beneficial
interests in the LLC Interests. 
  

 - 10 - 

 ARTICLE 3 - PURCHASE PRICE 
  
 In consideration of the sale of the Option, the Option Agreement and Seller’s beneficial interests in the LLC Interests
to Buyer, Buyer shall pay to Seller an amount equal to the Net Purchase Price, as prorated and adjusted as set forth in Article 6, Section 7.2, or as otherwise provided under this Agreement and shall cause the Company to satisfy, in
full, the Prudential Note immediately after the Closing. 
  
 3.1 Earnest Money Deposit. 
  
 3.1.1 Payment of Deposit. Provided Closing has not sooner occurred, upon expiration of the Due Diligence Period, Buyer shall make the Deposit in immediately available funds. 
  
 3.1.2 Applicable Terms; Failure to Make
Deposit. Except as expressly otherwise set forth herein, the Deposit shall be applied against the Net Purchase Price on the Closing Date and shall otherwise be held and delivered by Escrow Agent in accordance with the provisions of
Article 13. Notwithstanding any provision in this Agreement to the contrary, if Buyer fails to timely make the Deposit as provided herein, at Seller’s option, Buyer shall be deemed to have elected to terminate this Agreement and, if
Seller elects such option, the parties shall have no further rights or obligations hereunder except for obligations which expressly survive the termination of this Agreement. 
  
 3.2 Cash at Closing. On the Closing Date, Buyer shall (a) pay to Seller an amount equal to the balance of the
Net Purchase Price in immediately available funds by wire transfer as more particularly set forth in Section 7.2, as prorated and adjusted as set forth in Article 6, Section 7.2, or as otherwise provided under this Agreement,
and (b) cause the Escrow Agent to simultaneously pay the Deposit to Seller in immediately available funds by wire transfer as more particularly set forth in Section 7.2. 
  
 ARTICLE 4 - TITLE MATTERS 
  
 4.1 Title to Real Property. Seller and Buyer acknowledge that Seller has previously provided Buyer with the Title Commitment. 
  
 4.2 Title Defects. 
  
 4.2.1 Buyer’s Objections to Title; Seller’s
Obligations and Rights. 
  
 (a) Prior to
the end of the Due Diligence Period, Buyer shall have the right to object in writing to any title matters that appear on the Title Commitment, the Survey, and any supplemental title reports or updates to the Title Commitment (whether or not

  

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 such matters constitute Permitted Exceptions). In addition, after the expiration of the Due Diligence
Period, Buyer shall have the right to object in writing to any title matters that first appear on the update to the Survey heretofore ordered by Buyer and to any title matters which are not Permitted Exceptions and which affect the Company’s
title to the Real Property that may appear on any supplemental title reports or updates to the Title Commitment issued after the expiration of the Due Diligence Period so long as such objection is made by Buyer within five (5) Business Days after
Buyer becomes aware of the same (but, in any event, prior to the Closing Date). Unless Buyer is entitled to and timely objects to such title matters, all such title matters shall be deemed to constitute additional Permitted Exceptions. 

 
 (b) If this Agreement is not terminated by Buyer in
accordance with the provisions hereof, Seller or the Company shall, at Closing, Remove or cause to be Removed any Title Objections to the extent (and only to the extent) that the same constitute Required Removal Exceptions. In addition, Seller may
elect (but shall not be obligated) to Remove or cause to be Removed any other Title Objections. To the extent that the same do not constitute Required Removal Exceptions, Seller shall promptly notify Buyer in writing after receipt of Buyer’s
notice of Title Objections (but, in any event, prior to the Closing Date) whether Seller elects to Remove the same (and the failure to provide such notice within five (5) Business Days after the date of Buyer’s notice of Title Objections shall
be deemed to constitute an election of Seller not to effect any such cure). If Seller elects not to Remove one or more Title Objections, then, within five (5) Business Days after Seller’s election (but, in any event, prior to the Closing Date),
Buyer may elect in writing to either (i) terminate this Agreement, in which event the Deposit shall be paid to Buyer and, thereafter, the parties shall have no further rights or obligations hereunder except for obligations which expressly survive
the termination of this Agreement, or (ii) waive such Title Objections and proceed to Closing. Failure of Buyer to respond in writing within such period shall be deemed an election by Buyer to waive such Title Objections and proceed to Closing. Any
such Title Objection so waived (or deemed waived) by Buyer shall be deemed to constitute a Permitted Exception and the Closing shall occur as herein provided without any reduction of or credit against the Purchase Price. 
  
 (c) If Seller is unable to Remove any Title Objection that
it has previously elected to Remove prior to the Closing, Buyer may at Closing elect to either (a) terminate this Agreement, in which event the Deposit shall be paid to Buyer and, thereafter, the parties shall have no further rights or obligations
hereunder except for obligations which expressly survive the termination of this Agreement, or (b) waive such Title Objection and the Closing shall occur as herein provided without any reduction of or credit against the Purchase Price. 

 
 (d) Seller shall be entitled to a reasonable adjournment
of the Closing (not to exceed ten (10) days) for the purpose of the Removal of any Required Removal Exceptions or other Title Objections. 
  

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 4.2.2 Discharge of Title Exceptions. If on the Closing Date there are any
Required Removal Exceptions or any other Title Objections which Seller has elected in writing to pay and discharge, Seller may use any portion of the Purchase Price to satisfy the same, provided Seller shall cause the Title Company to Remove
the same. 
  
 4.2.3 No New
Exceptions. Except as may be required under the terms of the IBC Lease, from and after the date hereof, no Seller Party shall execute any deed, easement, restriction, covenant or other matter affecting title to the Property unless Buyer has
received a copy thereof and has approved the same in writing, provided, however, that Seller shall promptly furnish Buyer with a copy of (and Buyer shall not have the right to approve) any deed, easement, restriction, covenant or other such
matter which is required to be executed by the Company under the IBC Lease. If Buyer fails to object in writing to any other such proposed instrument within five (5) Business Days after receipt of the aforementioned notice, Buyer shall be deemed to
have approved the proposed instrument. Buyer’s consent shall not be unreasonably withheld or delayed with respect to any such instrument that is proposed prior to the end of the Due Diligence Period. Buyer, in its sole and absolute discretion,
shall be entitled to grant or withhold its consent with respect to any such instrument that is proposed between the end of the Due Diligence Period and the Closing. 
  
 4.3 Title Insurance. At Closing, the Title Company shall issue the Owner’s Title Policy to the
Company, insuring that title to the Real Property is vested in the Company subject only to the Permitted Exceptions. Buyer shall be entitled to request that the Title Company provide such endorsements (or amendments) to the Owner’s Title Policy
as Buyer may reasonably require, provided that (a) other than the Non-Imputation Endorsement, such endorsements (or amendments) shall be at no cost to, and shall impose no additional liability on, Seller, or any Seller Party, (b) other than
the Non-Imputation Endorsement, Buyer’s obligations under this Agreement shall not be conditioned upon Buyer’s ability to obtain such endorsements and, if Buyer is unable to obtain such endorsements, other than the Non-Imputation
Endorsement, Buyer shall nevertheless be obligated to proceed to close the Transaction without reduction of or set off against the Purchase Price, and (c) the Closing shall not be delayed as a result of Buyer’s request. 
  
 ARTICLE 5 - BUYER’S DUE DILIGENCE/CONDITION OF THE PROPERTY

  
 5.1 Buyer’s Due Diligence.  

 
 5.1.1 Access to Property. Subject to the
terms of the IBC Lease, between the date hereof and the Closing Date Seller shall allow Buyer and Buyer’s Representatives access to the Property upon reasonable prior notice at reasonable times provided (a) such access does not interfere
with the operation of the Property or the rights of tenants; (b) Buyer shall not interfere with or, without the prior written consent of Seller, which consent shall not be unreasonably withheld, contact any tenant; and (c) Seller or its designated
representative shall have the right to pre-approve and be present during any physical testing of the Property. In addition, Seller will make or cause to be made available to Buyer for copying, at Buyer’s sole cost and expense, the property
files of 
  

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 Seller and the Company (other than those files containing confidential, proprietary or privileged
materials). Buyer shall deliver promptly to Seller copies of all Buyer’s Reports, excluding any such reports from Buyer’s attorneys or which are otherwise confidential, proprietary or privileged (it being agreed that any title report,
survey, environmental report or engineering report prepared by a third party is not to be excluded). Buyer shall immediately return the Property to the condition existing prior to any tests and inspections. Prior to such time as Buyer or any of
Buyer’s Representatives enter the Property, Buyer shall (i) obtain policies of general liability insurance which insure Buyer and Buyer’s Representatives with liability insurance limits of not less than $1,000,000 combined single limit for
personal injury and property damage and name Seller, the Company and the Company’s property manager, if any, as additional insureds and which are with such insurance companies, provide such coverages and carry such other limits as Seller shall
reasonably require, and (ii) provide Seller with certificates of insurance evidencing that Buyer has obtained the aforementioned policies of insurance. 
  
 5.1.2 Limit on Government Contacts. Notwithstanding any provision in this Agreement to the contrary, except in connection
with the preparation of a so-called “Phase I” environmental report with respect to the Property, Buyer shall not contact any governmental official or representative regarding hazardous materials on or the environmental condition of
the Property without Seller’s prior written consent thereto, which consent shall not be unreasonably withheld or delayed. In addition, if Seller’s consent is obtained by Buyer, Seller shall be entitled to receive at least three (3)
Business Days prior written notice of the intended contact (in order to confirm issues proposed by the Buyer to be addressed in the intended contact) and to have a representative present when Buyer has any such contact with any governmental official
or representative. 
  
 5.2 As-Is, Where-Is, With All Faults
Sale. Buyer acknowledges and agrees as follows: 
  
 (a) During the Due Diligence Period, Buyer has conducted and shall continue to conduct, or has waived its right to conduct, such Due Diligence as Buyer has deemed or shall deem necessary or appropriate. 
  
 (b) On the Closing Date, the Property, which is being
indirectly transferred to Buyer through a transfer of the Option and LLC Interests, is being transferred to Buyer (and Buyer shall accept possession of such Property), “AS IS, WHERE IS, WITH ALL FAULTS”, with no right of setoff or
reduction in the Purchase Price. 
  
 (c) Except
for Seller’s Warranties, none of the Seller Parties have or shall be deemed to have made any verbal or written representations, warranties, promises or guarantees (whether express, implied, statutory or otherwise) to Buyer with respect to the
Property, any matter set forth, contained or addressed in the Documents (including, but not limited to, the accuracy and completeness thereof) or the results of Buyer’s Due Diligence. Buyer specifically acknowledges that, except for
Seller’s Warranties, Buyer is not relying on (and Seller and each of the other Seller Parties does hereby disclaim and renounce) any representations or warranties of any kind or nature whatsoever, whether 
  

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 oral or written, express, implied, statutory or otherwise, from Seller or any other Seller Parties, as
to: (1) the operation of the Property or the income potential, uses, or the merchantability, habitability or fitness of any portion of the Property for a particular purpose; (2) the physical condition of the Property or the condition or safety of
the Property or any component thereof, including, but not limited to, plumbing, sewer, heating, ventilating and electrical systems, roofing, air conditioning, foundations, soils and geology, including Hazardous Materials, lot size, or suitability of
the Property or any component thereof for a particular purpose; (3) the presence or absence, location or scope of any Hazardous Materials in, at, about or under the Property; (4) whether the appliances, if any, plumbing or utilities are in working
order; (5) the habitability or suitability for occupancy of any structure and the quality of its construction; (6) whether the improvements are structurally sound, in good condition, or in compliance with applicable Laws; (7) the accuracy of any
statements, calculations or conditions stated or set forth in Seller’s books and records concerning the Property or set forth in any of Seller’s offering materials with respect to the Property (Buyer having had the opportunity to inspect
the Property and all such books and records); (8) the dimensions of the Property or the accuracy of any floor plans, square footage, lease abstracts, sketches, or revenue or expense projections related to the Property; (9) the operating performance,
the income and expenses of the Property or the economic status of the Property; (10) the ability of Buyer to obtain any and all necessary governmental approvals or permits for Buyer’s intended use and development of the Property; and (11) the
leasing status of the Property or the intentions of any parties with respect to the negotiation and/or execution of any lease for any portion of the Property. 
  

(d) Buyer shall independently confirm to its satisfaction all information that it considers material to its purchase of the Property or
the Transaction. 
  
 In addition, Buyer expressly understands and acknowledges
that it is possible that unknown Liabilities may exist with respect to the Property and that Buyer explicitly took that possibility into account in determining and agreeing to the Purchase Price, and that a portion of such consideration, having been
bargained for between parties with the knowledge of the possibility of such unknown Liabilities shall be given in exchange for a full accord and satisfaction and discharge of all such Liabilities. Notwithstanding the foregoing, such acknowledgment
is not intended to, and shall not be construed to, (i) effect any assumption of liability as to matters which are not expressly assumed by Buyer in the documents executed by the parties in connection with the Transaction, or (ii) affect or impair
any rights or remedies that Buyer may have against Seller as a result of a breach of any of Seller’s Warranties, including without limitation Buyer’s right to indemnification as set forth in Section 9.4.5. 
  
 5.3 Termination of Agreement During Due Diligence
Period. If Buyer, in its sole and absolute discretion, is not satisfied with the results of its Due Diligence during the Due Diligence Period, Buyer may terminate this Agreement by written notice to Seller at any time prior to 5:00
p.m. Eastern Time on the last day of the Due Diligence Period, and, in the event of such termination, neither Seller nor Buyer shall have any liability hereunder except for those obligations which expressly survive the termination of this Agreement
and Buyer shall be entitled to the return of the Deposit. In the event Buyer fails to terminate this Agreement prior to 
  

 - 15 - 

 5:00 p.m. Eastern Time on the last day of the Due Diligence Period, Buyer shall be deemed to have waived its rights to
terminate this Agreement in accordance with this Article 5. If after the expiration of the Due Diligence Period Buyer conducts further Due Diligence, Buyer acknowledges and agrees that Buyer shall have no further right to terminate this
Agreement with respect to such further Due Diligence or otherwise in accordance with this Article 5 after the expiration of the Due Diligence Period). 
  
 5.4 Release. 
  
 (a) Buyer, for itself and its successors and assigns, hereby releases Seller from, and waives all claims and liability against Seller for or attributable
to (1) any Liabilities relating to the release of or the presence, discovery or removal of any Hazardous Materials in, at, about or under the Property, or for, connected with or arising out of any and all claims or causes of action based upon,
without limitation, (A) the Comprehensive Environmental Response, Compensation and Liability Act (codified in various sections of 26 U.S.C., 33 U.S.C., 42 U.S.C. and 42 U.S.C. Section 9601 et seq.) (“CERCLA”); (B) the
Resource Conservation And Recovery Act (42 U.S.C. Section 6901 et seq.); (C) the Hazardous Materials Transportation Act (49 U.S.C. Section 1801 et seq.); (D) the Toxic Substances Control Act (15 U.S.C. Section 2061 et seq.); (E)
the Clean Water Act (33 U.S.C. Section 1251 et seq.); (F) the Clean Air Act (42 U.S.C. Section 7401 et seq.); (G) the Safe Drinking Water Act (21 U.S.C. Section 349, 42 U.S.C. Section 201 and Section 300 et seq.); (H) the
National Environmental Policy Act (42 U.S.C. Section 4321 et seq.); (I) the Superfund Amendments and Reauthorization Act Of 1986 (codified in various sections of 10 U.S.C., 29 U.S.C., 33 U.S.C. and 42 U.S.C.); (J) Title III of the Superfund
Amendment and Reauthorization Act (40 U.S.C. Section 1101 et seq.); (K) the Uranium Mill Tailings Radiation Control Act (42 U.S.C. Section 7901 et seq.); (L) the Occupational Safety & Health Act (29 U.S.C. Section 655 et
seq.); (M) the Federal Insecticide, Fungicide and Rodenticide Act (7 U.S.C. Section 136 et seq.); (N) the Noise Control Act (42 U.S.C. Section 4901 et seq.); (O) the Emergency Planning and Community Right to Know Act (42 U.S.C.
Section 1100 et seq.) and any other federal or state based statutory, common law or regulatory causes of action for environmental contamination at, in or under the Real Property, and (2) all Liabilities with respect to the structural,
physical or environmental condition of the Property; provided, however, that such release and waiver shall be inapplicable to any Liabilities (x) for breach of Seller’s Warranties to the extent Seller’s Warranties survive Closing,
(y) for which Seller and Prudential provide indemnification pursuant to Section 9.4.5 of this Agreement, or (z) for which Seller, Prudential or the Company shall have acted with willful misconduct, gross negligence or a knowing violation of
the Law at any time Seller or Prudential owned an interest, directly or indirectly, in the Company or the Property. 
  
 (b) For purposes of this Agreement, the term “Hazardous Material” shall mean any substance, chemical, waste or material that is or
becomes regulated by any federal, state or local governmental authority because of its toxicity, infectiousness, radioactivity, explosiveness, ignitability, corrosiveness or reactivity, including, without limitation, asbestos or any substance
containing more than 0.1 percent asbestos, the group of compounds known as polychlorinated biphenyls, flammable explosives, oil, petroleum or any refined petroleum product. 
  
 (c) The provisions of this Section 5.4 shall survive the Closing. 
  

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 ARTICLE 6 - ADJUSTMENTS AND PRORATIONS 
  
 The following adjustments and prorations shall be made at Closing: 
  
 6.1 Lease Rentals and Other Revenues. 
  
 6.1.1 Rents. All collected Rents shall be
prorated between Seller and Buyer as of the day prior to the Closing Date. Seller shall be entitled to all Rents attributable to any period to but not including the Closing Date. Buyer shall be entitled to all Rents attributable to any period on and
after the Closing Date. Buyer and Seller acknowledge that the “Basic Rent” payable under the IBC Lease is payable in arrears on the last day of each month. Accordingly, in the event the installment of such Basic Rent for the month
in which the Closing occurs has not been collected as of the Closing Date, such Basic Rent shall not be prorated at the time of Closing. After Closing, Buyer shall make a good faith effort to collect (or cause the Company to collect) such Basic Rent
and shall tender (or cause the Company to tender) Seller’s pro rata share of same upon receipt thereof (which obligation shall survive the Closing and not be merged therein). 
  
 6.1.2 Other Revenues. Revenues from Property operations that are actually collected shall be
prorated between Buyer and Seller as of 12:01 a.m. on the Closing Date. Seller shall be entitled to all such revenues attributable to any period to but not including the Closing Date and Buyer shall be entitled to all such revenues attributable to
any period on and after the Closing Date. After Closing, Buyer shall cause the Company to make a good faith effort to collect any such revenues not collected as of the Closing Date on Seller’s behalf and to tender the same to Seller upon
receipt (which obligation shall survive the Closing and not be merged therein). Except as set forth below, Buyer shall not have an exclusive right to collect such revenues and Seller hereby retains its rights to pursue claims against any parties for
sums due with respect to periods prior to the Closing Date; provided, however, that Seller (i) shall be required to notify Buyer in writing of its intention to commence or pursue any such legal proceedings; (ii) shall only be permitted to
commence or pursue any legal proceedings after the date which is six (6) months after Closing; and (iii) shall not be permitted to commence or pursue any legal proceedings against any party seeking termination of the underlying contract (but only
collection of the past due amounts as an unsecured creditor of such party). The terms of the immediately preceding sentence shall survive the Closing and not be merged therein. 
  
 6.2 Lease Expenses. At Closing, Buyer shall reimburse Seller for the Reimbursable Lease Expenses to the extent
required by the terms of Article 14. 
  
 6.3 [Reserved].

  
 6.4 [Reserved]. 
  
 6.5 Closing Costs. Buyer shall pay the following costs and
expenses associated with the following: (a) all costs of Buyer’s Due Diligence, including fees due its consultants and attorneys, (b) all lenders’ fees related to any financing to be obtained by Buyer, (c) one-half of 
  

 - 17 - 

 all escrow or closing charges, (d) the cost of the update of the Survey, (e) all premiums and charges of the Title
Company for the Commitment and the Owner’s Title Policy (including endorsements, other than the Non-Imputation Endorsement); and (f) one-half all transfer taxes, sales taxes, documentary stamp taxes and similar charges, if any, applicable to
the transfer of the Option and/or the LLC Interests to Buyer, less $250,000. Seller shall pay the following costs and expenses associated with the Transaction: (i) the commission due Seller’s Broker, (ii) all fees due its attorneys, (iii) all
recording and filing charges if any, in connection with the instrument by which Seller conveys the Option and/or the LLC Interests, (iv) one-half of all escrow or closing charges, (v) one-half all transfer taxes, sales taxes, documentary stamp taxes
and similar charges, if any, applicable to the transfer of the Option and/or the LLC Interests to Buyer (based on the “computed value” of the Property for purposes of the transfer taxes), plus $250,000, (vi) the cost of obtaining a
Non-Imputation Endorsement to the Owner’s Title Policy, and (vii) all costs incurred in connection with causing the Title Company to Remove any Required Removal Exceptions or to Remove any other Title Objections to the extent Seller
specifically agrees in writing, at or prior to Closing, to cause Removal of such matter, it being understood for purposes of this sentence that nothing in this Agreement or any prior understanding or agreement of the parties shall be construed to
obligate Seller to so Remove or agree to Remove any such matter other than any Required Removal Exceptions. The obligations of the parties under this Section 6.5 shall survive the Closing (and not be merged therein) or any earlier termination
of this Agreement. 
  
 6.6 [Reserved]. 
  
 6.7 Apportionment Credit. In the event the apportionments to be
made at the Closing result in a credit balance (a) to Buyer, such sum shall be paid at the Closing by giving Buyer a credit against the Net Purchase Price in the amount of such credit balance, or (b) to Seller, Buyer shall pay the amount thereof to
Seller at the Closing by wire transfer of immediately available funds to the account or accounts to be designated by Seller for the payment of the Net Purchase Price. 
  
 6.8 Delayed Adjustment; Delivery of Operating and Other Statements. If at any time following the Closing Date,
the amount of an item listed in any section of this Article 6 shall prove to be incorrect (whether as a result of an error in calculation or a lack of complete and accurate information as of the Closing), the party in whose favor the error
was made shall promptly pay to the other party the sum necessary to correct such error upon receipt of proof of such error, provided that such proof is delivered to the party from whom payment is requested on or before one (1) year after
Closing (such period being referred to herein as the “Post Closing Adjustment Period”). In order to enable Seller to determine whether any such delayed adjustment is necessary, Buyer shall provide to Seller, on written request,
current operating and financial statements (or such excerpts thereof sufficient to provide the information necessary for the determination of such adjustments) for the Property no later than the date one (1) month prior to the expiration of the
Post-Closing Adjustment Period. The provisions of this Section 6.8 shall survive the Closing and not be merged therein. 
  

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 ARTICLE 7 - CLOSING 
  
 Buyer and Seller hereby agree that the Transaction shall be consummated as follows: 
  
 7.1 Closing Date. Subject to Seller’s right to extend the
Closing as provided in this Agreement, Closing shall occur on the Closing Date. The parties shall conduct an escrow-style closing through the Title Company (or such other party selected by Buyer and Seller) so that it will not be necessary for any
party to attend the Closing (Buyer and Seller shall have pre-Closings to finalize and sign all documents not later than the day prior to Closing, and deliver such items to the escrow agent). Seller and Buyer acknowledge that the Closing of the
Transaction shall occur simultaneously with the closing under the Brea Purchase Agreement and the closing under the Option Exercise Agreement. Time is of the essence with respect to the Closing. 
  
 7.2 Title Transfer and Payment of Purchase Price. Provided all
conditions precedent to Seller’s obligations hereunder have been satisfied, Seller agrees to convey the Option, the Option Agreement and all its interests in the Company to Buyer, free and clear of all Liens, upon confirmation of receipt of the
Net Purchase Price by the Escrow Agent as set forth below. Provided all conditions precedent to Buyer’s obligations hereunder have been satisfied, and subject to a concurrent closing under the Option Exercise Agreement, Buyer agrees to pay the
Net Purchase Price by timely delivering the same to the Escrow Agent no later than 12:00 noon Eastern Time on the Closing Date and causing the Escrow Agent to deposit the same in Seller’s designated account by 2:00 p.m. Eastern Time on the
Closing Date. In addition, provided that all conditions to Buyer’s obligations hereunder have been satisfied and Buyer fails to deliver to the Escrow Agent the Net Purchase Price no later than 12:00 noon Eastern Time on the Closing Date,
then for each full or partial day after 2:00 p.m. Eastern Time on the Closing Date that Seller has not received in its account the Net Purchase Price, Buyer shall pay to Seller at Closing (and as a condition thereto) the greater of (a) an amount
equal to one (1) day’s interest on the unpaid funds at the rate per annum equal to the “prime rate” as such rate is reported in the “Money Rates” section of THE WALL STREET
JOURNAL, as published and distributed in New York, New York, in effect from time to time, and (b) an amount equal to the per diem proration for one (1) day. Further, provided that all conditions to Seller’s
obligations hereunder have been satisfied and Seller fails to deliver to the Escrow Agent the Seller’s closing deliverables specified herein no later than 12:00 noon Eastern Time on the Closing Date, then for each full or partial day after 2:00
p.m. Eastern Time on the Closing Date that Buyer has not received the Option and the LLC Interests, Seller shall pay to Buyer at Closing (and as a condition thereto) the greater of (a) an amount equal to one (1) day’s interest on the unpaid
funds at the rate per annum equal to the “prime rate” as such rate is reported in the “Money Rates” section of THE WALL STREET JOURNAL, as published and
distributed in New York, New York, in effect from time to time, and (b) an amount equal to the per diem proration for one (1) day. 
  
 7.3 Seller’s Closing Deliveries. At the Closing, Seller shall deliver or cause to be delivered the following: 
  
 (a) Assignment. Assignment and Assumption of
Option Agreement and Beneficial Interests in the form attached hereto as Exhibit D (the “Assignment”). 
  

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 (b) Updated Balance Sheet. A balance sheet for the Company dated as of the
Closing Date (the “Closing Balance Sheet”). 
  
 (c) Notice to Tenants. A single form letter in the form of Exhibit H attached hereto and incorporated herein by this reference, executed by Seller, duplicate copies of which shall be sent
by Buyer after Closing to each tenant under the Leases. 
  
 (d) Non-Foreign Status Affidavit. A non-foreign status affidavit in the form of Exhibit I attached hereto and incorporated herein by this reference, as required by Section 1445 of the
Internal Revenue Code, executed by Seller. 
  
 (e) Evidence of Authority. A certificate of an Assistant Secretary of Seller with respect to the authority to act on behalf of Seller of the individual executing on behalf of Seller all documents contemplated by this
Agreement, in the form of Exhibit J attached hereto and incorporated herein by this reference. 
  
 (f) Closing Statement. A Closing Statement Agreement and escrow direction letter in the form of Exhibit K
attached hereto and incorporated herein by this reference. 
  
 (g) Title Affidavit. A Vendor’s Title Affidavit from the Company in the form of Exhibit E attached hereto and incorporated herein by this reference, executed by the Company.

  
 (h) Legal Opinion. An opinion
letter of counsel to Seller and Prudential, in the form of Exhibit G attached hereto and incorporated herein by this reference, addressed to Buyer dated the Closing Date and executed by such law firm. 
  
 (i) Other Documents. Such other documents as
may be reasonably required by the Title Company or as may be agreed upon by Seller and Buyer to consummate the Transaction. 
  
 (j) Tax Returns. If applicable, duly completed and signed real estate transfer tax or sales tax returns. 
  
 (k) Keys and Original Documents. Keys to all
locks on the Real Property in Seller’s possession and originals or, if originals are not available, copies, of all of the Property Documents, to the extent not previously delivered to Buyer. 
  
 (l) Estoppel Letter. To the extent in
Seller’s possession, but in any event as a condition precedent to Buyer’s obligation to close the Transaction, an executed estoppel certificate from the Required Tenant, which (i) shall be dated no earlier than November 16, 2003, and (ii)
shall be substantially in the form of Exhibit M attached hereto and incorporated herein by this reference; provided, however, that if Required Tenant is required or permitted under the terms of the IBC Lease to provide less
information or to 
  

 - 20 - 

 otherwise make different statements in a certification of such nature than are set forth on Exhibit
M attached hereto, then Buyer shall accept any modifications made to such estoppel certificate to the extent that such changes are consistent with the minimum requirements set forth in the IBC Lease. 
  
 (m) Seller’s Certificate. A certificate
of an officer of Seller certifying that all representations and warranties contained in Section 9.2.2 of this Agreement are true and correct as of the Closing Date in all material respects, that all representations and warranties contained in
Sections 9.2.3 and 9.2.4 of this Agreement are true and correct as of the Closing Date, and that Seller has performed, complied and fulfilled all of the covenants, agreements, obligations and conditions required by this Agreement to be
performed, complied or fulfilled by Seller on or prior to the Closing Date. 
  
 (n) Prudential’s Certificate. A certificate of an officer of Prudential certifying that all representations and warranties contained in Section 9.3 of this Agreement are true and correct as
of the Closing Date. 
  
 The items to be delivered by Seller in accordance with
the terms of this Section 7.3 shall be delivered to Escrow Agent no later than 5:00 p.m. Eastern Time on the last Business Day prior to the Closing Date or by overnight delivery for early AM delivery on the Closing Date, except that the items
in the paragraph entitled “Keys and Original Documents” and any tenant estoppel certificates shall be delivered by Seller outside of escrow on the Closing Date. 
  
 7.4 Buyer Closing Deliveries. At the Closing, Buyer shall deliver or cause to be delivered the following:

  
 (a) Net Purchase Price. The Net
Purchase Price, as adjusted for apportionments and other adjustments required under this Agreement, plus any other amounts required to be paid by Buyer at Closing. 
  
 (b) [Reserved.] 
  
 (c) Assignment. The Assignment executed and acknowledged by Buyer. 
  
 (d) Evidence of Authority. Documentation to
establish to Seller’s reasonable satisfaction the due authorization of Buyer’s acquisition of the Option, Option Agreement, and the LLC Interests and Buyer’s execution of this Agreement and the documents required to be delivered by
Buyer pursuant to this Agreement and the consummation of the Transaction. 
  
 (e) Closing Statement. A Closing Statement Agreement and escrow direction letter in the form of Exhibit K attached hereto and incorporated herein by this reference. 
  

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 (f) Other Documents. Such other documents as may be reasonably required by
the Title Company or may be agreed upon by Seller and Buyer to consummate the Transaction. 
  
 (g) Tax Returns. If applicable, duly completed and signed real estate transfer tax or sales tax returns. 
  
 (h) Buyer’s Certificate. A certificate of
an officer of Buyer certifying that all representations and warranties contained in Section 9.1 of this Agreement are true and correct in all material respects as of the Closing Date, and that Buyer has performed, complied and fulfilled all of the
covenants, agreements, obligations and conditions required by this Agreement to be performed, complied or fulfilled by Buyer on or prior to the Closing Date. 
  
 The Net Purchase Price shall be paid in accordance with the terms of Section 7.2 hereof and the items to be delivered by Buyer in accordance with the terms of
Subsections (b) and following of this Section 7.4 shall be delivered to Escrow Agent no later than 5:00 p.m. Eastern Time on the last Business Day prior to the Closing Date or by overnight delivery for early AM delivery on the Closing
Date. 
  
 ARTICLE 8 - CONDITIONS TO CLOSING 
  
 8.1 Conditions to Seller’s Obligations. Seller’s
obligation to close the Transaction is conditioned on all of the following, any or all of which may be waived by Seller by an express written waiver, at its sole option: 
  
 (a) Prudential Note. Consent to the Transaction shall have been received from Prudential as
required pursuant to the Prudential Note and Seller shall be satisfied that the Buyer shall cause the Company to satisfy the Prudential Note in full immediately after the Closing. 
  
 (b) Representations True. All representations and warranties made by Buyer in this Agreement
shall be true and correct in all material respects on and as of the Closing Date, as if made on and as of such date except to the extent they expressly relate to an earlier date. 
  
 (c) Buyer’s Financial Condition. No petition has been filed by or against Buyer under the
Federal Bankruptcy Code or any similar state or federal Law, whether now or hereafter existing. 
  
 (d) Buyer’s Deliveries Complete. Buyer shall have delivered the funds required hereunder and all of the documents to be
executed by Buyer set forth in Section 7.4 and shall have performed all other covenants, undertakings and obligations, and complied with all conditions required by this Agreement, to be performed or complied with by Buyer at or prior to the
Closing. 
  

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 8.2 Conditions to Buyer’s Obligations. Buyer’s obligation to close the
Transaction is conditioned on all of the following, any or all of which may be expressly waived by Buyer in writing, at its sole option: 
  
 (a) Representations of Seller True. (i) All representations and warranties made by Seller in Section 9.2.1 and Section 9.2.2
of this Agreement, as the same may be amended as provided in Section 9.4, shall be true and correct in all material respects on and as of the Closing Date, as if made on and as of such date except to the extent that they expressly relate to
an earlier date; and (ii) all representations and warranties made by Seller and Prudential in Sections 9.2.3 and 9.2.4 of this Agreement shall be true and correct on and as of the Closing Date, as if made on and as of such date except
to the extent that they expressly relate to an earlier date; 
  
 (b) Title Conditions Satisfied. At the time of the Closing, title to the Property shall be as provided in Article 4 of this Agreement; 
  
 (c) Seller’s Deliveries Complete. Seller
shall have delivered all of the documents and other items required pursuant to Section 7.3 and shall have performed all other covenants, undertakings and obligations, and complied with all conditions required by this Agreement, to be
performed or complied with by Seller at or prior to the Closing; and 
  
 (d) Prudential Representations True. All representations and warranties made by Prudential in Section 9.3 of this Agreement and in the Option Exercise Agreement shall be true and correct in all
material respects on and as of the Closing Date, as if made and as of such date except to the extent that they expressly relate to an earlier date; 
  
 (e) Prudential Conveyance of LLC Interests. The simultaneous transfer of legal title to the LCC Interests from Prudential to
Buyer free and clear of all Liens, pursuant to an assignment instrument from Prudential in form reasonably acceptable to Buyer, and release of the Option Exercise Agreement from Escrow; 
  
 (f) Financial Condition. No petition has been filed by or against Seller, the Company or
Prudential under the Federal Bankruptcy Code or any similar state or federal Law, whether now or hereafter existing; 
  
 (g) Prudential Note. Consent to the Transaction shall have been received from Prudential as required pursuant to the
Prudential Note; 
  
 (h) Brea Closing.
The consummation of the purchase and sale of the real property under the Brea Purchase Agreement shall have occurred; and 
  
 (i) Closing Balance Sheet. The Closing Balance Sheet has been delivered and is acceptable to Buyer (which shall be deemed
acceptable provided that the assets include all of the Property and there are no liabilities other than the Prudential Note and Capital Stock and Franchise Taxes accrued but not yet payable). 
  

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 8.3 Waiver of Failure of Conditions Precedent. At any time or times on or before the date
specified for the satisfaction of any condition, Seller or Buyer may elect in writing to waive the benefit of any such condition set forth in Section 8.1 or Section 8.2, respectively. By closing the Transaction, Seller and Buyer shall
be conclusively deemed to have waived the benefit of any remaining unfulfilled conditions set forth in Section 8.1 and Section 8.2, respectively. In the event any of the conditions set forth in Section 8.1 or Section 8.2
are neither waived nor fulfilled, Seller or Buyer (as appropriate) may exercise such rights and remedies, if any, that such party may have pursuant to the terms of Article 11 hereof. 
  
 8.4 Approvals not a Condition to Buyer’s Performance.
Subject to Buyer’s right to terminate this Agreement prior to the expiration of the Due Diligence Period in accordance with the terms of Article 5 hereof, Buyer acknowledges and agrees that its obligation to perform under this Agreement
is not contingent upon Buyer’s ability to obtain any (a) governmental or quasi-governmental approval of changes or modifications in use or zoning, or (b) modification of any existing land use restriction, or (c) consents to assignments of any
service contracts, management agreements or other agreements which Buyer requests, or (d) endorsements to the Owner’s Title Policy (other than the Non-Imputation Endorsement). 
  
 ARTICLE 9 - REPRESENTATIONS AND WARRANTIES 
  
 9.1 Buyer’s Representations. Buyer represents and warrants to, and covenants with, Seller as follows:

  
 9.1.1 Buyer’s
Authorization. Buyer (and as used in this Section 9.1.1, the term Buyer includes any general partners or managing members of Buyer) (a) is duly organized (or formed), validly existing and in good standing under the Laws of its State
of organization and, as and to the extent required by Laws for this Transaction, the State in which the Property is located, (b) is authorized to consummate the Transaction and fulfill all of its obligations hereunder and under all documents
contemplated hereunder to be executed by Buyer, and (c) has all necessary power to execute and deliver this Agreement and all documents contemplated hereunder to be executed by Buyer, and to perform all of its obligations hereunder and
thereunder. This Agreement and all documents contemplated hereunder to be executed by Buyer have been duly authorized by all requisite partnership, corporate or other required action on the part of Buyer and are the valid and legally binding
obligation of Buyer, enforceable in accordance with their respective terms. Neither the execution and delivery of this Agreement and all documents contemplated hereunder to be executed by Buyer, nor the performance of the obligations of Buyer
hereunder or thereunder will result in the violation of any Law or any provision of the organizational documents of Buyer or will conflict with any order or decree of any court or governmental instrumentality of any nature by which Buyer is bound.

  

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 9.1.2 Buyer’s Financial Condition. No petition has been filed by or
against Buyer under the Federal Bankruptcy Code or any similar state or federal Law. 
  
 9.1.3 Investment Intent. Buyer acknowledges that the Option and LLC Interests have been offered and will be sold to Buyer
pursuant to an exemption from registration under the Securities Act and all applicable state securities laws. Buyer is an “accredited investor” within the meaning of Regulation D promulgated under the Securities Act and is purchasing the
Option and the LLC Interests for investment purposes and has no present intent to distribute, resell, pledge or otherwise dispose of the Option (other than the exercise thereof) and the LLC Interests. Buyer has had the opportunity to review such
documents and to ask such questions of Seller as Buyer has deemed pertinent to its decision to purchase the Option and the LLC Interests. Buyer is fully capable of assessing the risks associated with ownership of the LLC Interests.

  
 9.2 Seller’s Representations. Seller
represents and warrants to Buyer as follows: 
  
 9.2.1 Seller’s Authorization. Seller (and as used in this Section 9.2.1, the term Seller includes any general partners or managing members of Seller) (a) is duly organized (or formed), validly existing and in good
standing under the Laws of its State of organization and as and to the extent required by law the State in which the Property is located, (b) is authorized to consummate the Transaction and fulfill all of its obligations hereunder and under all
documents contemplated hereunder to be executed by Seller, and (c) has all necessary power to execute and deliver this Agreement and all documents contemplated hereunder to be executed by Seller, and to perform all of its obligations
hereunder and thereunder. This Agreement and all documents contemplated hereunder to be executed by Seller have been duly authorized by all requisite partnership, corporate or other required action on the part of Seller and are the valid and legally
binding obligation of Seller, enforceable in accordance with their respective terms. Neither the execution and delivery of this Agreement and all documents contemplated hereunder to be executed by Seller, nor the performance of the
obligations of Seller hereunder or thereunder will result in the violation of any Law or any provision of the organizational documents of Seller or will conflict with any order or decree of any court or governmental instrumentality of any nature by
which Seller is bound. 
  
 9.2.2
Seller’s Representations with respect to the Property. To Seller’s Knowledge: 
  
 (a) Except as listed in Exhibit O attached hereto and incorporated herein by this reference, neither Seller nor the Company
has received any written notice of any current or pending litigation (including, but not limited to, suits, legal proceedings, legal actions, which shall include, but not be limited to, condemnation actions and eminent domain proceedings) against
Seller or the Company with respect to the Property or against the Property which would, if determined adversely, adversely affect the Property. 
  

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 (b) As of the date of this Agreement, neither Seller nor the Company has entered into any
service, supply, maintenance, repair, employment, management, broker, commission, warranty, guaranty or utility contracts, subcontracts or agreements which will be binding upon Buyer or the Company after the Closing other than the Contracts listed
in Exhibit B attached hereto. The Company is not in default of any Contract to which it is a party. 
  
 (c) Except for defaults cured on or before the date hereof, neither Seller nor the Company has received any written notice of default
under the terms of any of the Contracts except as listed in Exhibit O attached hereto. 
  
 (d) As of the date of this Agreement, the only tenants of the Property are the tenants listed in Exhibit P attached hereto
and incorporated herein by this reference. 
  
 (e) Except for violations cured or remedied on or before the date hereof and except as listed in Exhibit O attached hereto, as of the date of this Agreement, neither Seller nor the Company has received any written notice from
any governmental authority with respect to the violation of, or with respect to any existing or pending investigation or inquiry or any remedial actions under, any applicable law, statute, ordinance, rule, regulation or order pertaining to health or
the environment or regulating use of the Property which has not been cured by Seller. 
  
 (f) As of the date of this Agreement, except as set forth on Exhibit O attached hereto and except for defaults cured on or
before the date hereof, neither Seller nor the Company has (i) received any written notice from any tenant of the Property asserting or alleging that the Company is in default under such tenant’s Lease, nor (ii) sent to any tenant of the
Property any written notice alleging or asserting that such tenant is in default under such tenant’s Lease. 
  
 (g) [Reserved]  
  
 (h) There are no employment, collective bargaining, or similar agreements or arrangements between Seller and any of its employees or
others which will be binding on Buyer. 
  
 9.2.3 Representations of Seller and Prudential with respect to the Option and the LLC Interests. Seller and Prudential hereby jointly and severally represent and warrant to Buyer as follows: 
  
 (a) Ownership of the Option. Seller has good and
marketable title to the Option, the Option Agreement, and all equitable beneficial right, title and interest in and to the LLC Interests, free and clear of any Liens, restrictions and claims of every kind and nature whatsoever, and such good title
to the Option, Option Agreement and equitable beneficial right, title, and interest to the LLC Interests shall be transferred to Buyer hereunder free and clear of all Liens, restrictions and claims of every kind and nature whatsoever. 
  

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 (b) LLC Agreement. The LLC Agreement is legal, valid and binding, enforceable in
accordance with its terms, and is in full force and effect and has not been amended, supplemented or otherwise modified. Seller has delivered to Buyer a true and complete copy of the LLC Agreement. 
  
 (c) Option Agreement. The Option Agreement is legal,
valid and binding, enforceable in accordance with its terms, and is in full force and effect and has not been amended, supplemented or otherwise modified. Seller has delivered to Buyer a true and complete copy of the Option Agreement. 
  
 (d) Capitalization Agreement. The Capitalization
Agreement is legal, valid and binding, enforceable in accordance with its terms, and is in full force and effect and has not been amended, supplemented or otherwise modified. Seller has delivered to Buyer a true and complete copy of the
Capitalization Agreement. 
  
 (e) No Voting
Agreement. Seller is not party to any voting trust, proxy or other voting agreement with respect to the Option, the Option Agreement or the LLC Interests. 
  

9.2.4 Representations of Seller and Prudential With Respect to the Company. Seller and Prudential hereby jointly and
severally represent and warrant to Buyer as follows: 
  
 (a) Authorization and Good Standing. The Company is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization and has all requisite power and authority to own and operate its
properties and to carry on the business conducted by it as now conducted. The Company is duly qualified or licensed and in good standing to do business as a foreign entity in each jurisdiction in which such qualification is required. 
  
 (b) Consents and Approvals; No Violations. No filing
with, and no permit, authorization, consent or approval of, any Governmental Authority or any other Person other than Prudential (which consent of Prudential is set forth below in this Agreement) is required to be obtained by the Company for
Seller’s execution and delivery of this Agreement or any Closing Document and the consummation of the transactions contemplated by this Agreement. Neither the execution and delivery of this Agreement and the Closing Documents by Seller nor the
consummation by Seller of the transactions contemplated hereby nor compliance by Seller with any of the provisions hereof will (i) conflict with or result in any breach of any provision of the organizational documents of the Company; (ii) result in
a violation or breach of, or constitute (with or without due notice or lapse of time or both) a default (or give rise to any right of termination, cancellation or acceleration) under, any of the terms, conditions or provisions of 
  

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 any indenture, license, Contract, or other instrument or obligation to which the Company is a party or by
which the Company or its properties or assets may be bound; (iii) violate or conflict with any order, judgment, writ, injunction, decree, statute, rule or regulation applicable to the Company or its properties or assets, or (iv) result in the
creation of any Lien upon the Company or any assets of the Company. 
  
 (c) Ownership of the Company. No one other than Seller and Prudential owns any legal or beneficial interests in the Company, and subject only to the Option and the Option Agreement, the LLC Interests are owned
free and clear of all Liens (including any restrictions on the right to vote, assign or otherwise transfer such legal and beneficial ownership of the LLC Interests). Such LLC Interests represent all the member or ownership interests in the Company,
and other than the Option and the Option Agreement, there are no rights, options, convertible or exchangeable instruments or interests or commitments, agreements, arrangements or undertakings of any kind to which Seller or the Company is a party or
by which Seller or the Company is bound obligating Seller or the Company to issue, deliver, sell or create, or cause to be issued, delivered, sold or created, any present or future legal or beneficial interests in the Company or obligating the
Company or Seller to issue, grant, extend or enter into any such right, option, convertible or exchangeable instrument or interest or commitment, agreement, arrangement or undertaking. 
  
 (d) Tax Matters. (i) The Company has complied with all Laws relating to the payment and withholding
of Taxes and has withheld and paid over to the proper Governmental Authorities all amounts required to be so withheld and paid over under applicable Laws. (ii) The Company has been at all times throughout its existence, and as of the Closing Date
will be, classified for federal income tax purposes under Treasury Regulation Section 301.7701-3(b) as a single member limited liability company disregarded as an entity separate from its owner and pursuant to any corresponding provision of state
and local income tax Laws (including, without limitation, the Philadelphia business privilege tax but excluding the Pennsylvania Capital Stock and Franchise Tax). The Company is not and has never been a member of an “affiliated group”
(within the meaning of Section 1504(a) of the Code) filing a consolidated federal income Tax Return or a member of any consolidated, unitary, combined or similar group pursuant to corresponding state, local or foreign law. The Company has no
liability for Taxes of any Person under Treasury Regulation Section 1.1502-6 (and corresponding provisions of state, local or foreign law). (iii) Except as set forth on Exhibit Q, the Company has timely filed all Tax Returns that it
was required to file. All such Tax Returns were correct and complete in all material respects and all Taxes (whether or not shown on any Tax Return) owed by the Company have been paid. The Company is not the beneficiary of any extension of time
within which to file any such Tax Return. No agreement, waiver or other document or arrangement extending or having the effect of extending the period for assessment or collection of Taxes (including, but not limited to, any applicable statute of
limitation), has 
  

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 been executed or filed with the Internal Revenue Service or any other taxing authority by or on behalf of
the Company and no power of attorney with respect to any Tax matter of the Company is currently in force. No claim is pending or threatened by any Governmental Authority in any jurisdiction where the Company does not file Tax Returns that it is or
may be subject to taxation by that jurisdiction. (iv) Except as set forth on Exhibit Q, there are no audits, assessments, levies, administrative proceedings, disputes or claims concerning any liability for Taxes of the Company that
have been claimed, raised or to the Seller’s knowledge threatened by any Governmental Authority. Except as set forth on Exhibit Q, Seller has delivered to Buyer correct and complete copies of all federal, state and local income
(including, without limitation, Philadelphia business privilege) and other Tax Returns of the Company. Except as set forth on Exhibit Q, there have been no income tax examination reports or statements of deficiencies assessed against
or with respect to the Company, by any Governmental Authority. The Company has not made any payments, is not obligated to make any payments, and is not a party to any agreement that under certain circumstances could obligate it to make any payments,
that will not be deductible under Section 280G of the Code. The Company is not a party to, is not bound by and does not have any obligation under any tax sharing arrangement, tax indemnification agreement or similar contract or arrangement.

  
 (e) Indebtedness. The Company is not a
party to any line of credit, loan agreement or other financing arrangement or Indebtedness of any nature, whether with banks, financial institutions or other Persons, other than as evidenced by the Prudential Note. Except for the Prudential Note,
the Company does not have any Indebtedness outstanding nor has it given any guaranty, indemnity, comfort letter or other assurance of payment or security of any nature for, or otherwise agreed to or may become directly or contingently liable for,
any obligation of any other Person. 
  
 (f)
Financial Statements. Seller has delivered to Buyer the financial statements of the Company for the years ended December 31, 2001 and 2002 (the “Company Financial Statements”) and the nine month period ended September 30,
2003. The Company Financial Statements are true, complete and correct and prepared in conformity with the practices consistently applied by the Company and fairly present the financial condition of the Company as of the date thereof. The Company has
no liabilities (whether absolute, accrued, fixed, contingent, matured, unmatured, determined, determinable or otherwise) which were not reflected or reserved against in the Company Financial Statements, except for liabilities arising under or
resulting from this Agreement. 
  
 (g)
Employees. The Company does not currently have and has never had any employees (whether on a full-time, part-time, or temporary basis). The Company is not a party to, nor has it ever maintained, sponsored, participated in, administered,
contributed to, been required to contribute to, or been a party to or otherwise responsible for, any Employee Benefit Arrangement. There are no 
  

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 complaints, charges or claims against the Company pending or threatened which could be brought or filed
with any Governmental Authority, arbitrator or court based on, arising out of, in connection with or otherwise relating to the employment or termination of employment by the Company of any individual. The Company does not have any liability, actual
or contingent, either individually or on a joint and several basis, arising under ERISA. No Person serving as a manager, officer, director or any other similar capacity of the Company is entitled to any form of compensation or benefit from the
Company. 
  
 (h) Bankruptcy. Seller and
the Company are each solvent, and no petition in bankruptcy or any petition or answer seeking any assignment for the benefit of creditors, the appointment of a receiver or trustee, liquidation, dissolution or similar relief under the United States
Bankruptcy Code or any similar state law has been filed by or against the Company or Seller. Neither Seller nor the Company has made any general assignment of its property for the benefit of its creditors. No proceeding has been instituted for the
dissolution or liquidation of Seller or the Company. 
  
 (i) Title to Assets. (i) The Company has good and marketable title to all of the Personal Property and the Real Property free and clear of all Liens (provided however, with respect to title to the Real Property Seller and
Prudential represent and warrant only that, except for the Permitted Exceptions, the Company has not granted or created or consented to the creation of any Lien upon the title to the Real Property, other than the mortgage securing the Prudential
Note, which shall be satisfied at Closing), and (ii) the Property constitutes all assets necessary for the conduct of the business of the Company in accordance with past practice. 
  
 (j) Other Activities. The Company (i) has not engaged since its formation, and does not engage in,
any other business or activity other than the ownership of its interest in the Property; (ii) does not hold, directly or indirectly any ownership interests (legal or equitable) in any real or personal property other than its interest in the
Property; and (iii) is not a shareholder partner, member or owner of an interest in any other Person. 
  
 (k) Liabilities. Except as disclosed to Buyer in this Agreement including on the Company Financial Statements and the Closing
Balance Sheet, the Company has no liabilities, including, without limitation, any contingent liabilities, other than those arising under the Leases, the Prudential Note and all documents executed in connection therewith and those arising solely by
reason of acquisition and ownership of the Property such as covenants, conditions and restrictions which burden the Property. 
  
 (l) Litigation. Neither Seller nor the Company has been served with any litigation or administrative proceeding with respect to the
Company or the Property, and there is no pending or threatened litigation, arbitration, mediation or 
  

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 administrative proceedings against the Company or the Property. Except as disclosed on Exhibit
Q, neither Seller nor the Company is a party or subject to the provisions of any order, writ, injunction, judgment or decree of any court or other governmental entity with respect to the Company or the Property, and there is no action, suit
or proceeding with respect to the Company or the Property initiated by Seller or the Company currently pending. 
  
 (m) No Other Agreements. Other than the Leases, the Contracts, and the Permitted Exceptions, the Company has not entered into or
assumed any other leases, service contracts, management agreements, or other contracts or agreements, oral or written, that grant to any Person whomsoever any right, title, interest or benefit in or to all or any part of the Property, any rights to
acquire all or any part of the Property or any rights relating to the use, operation, management, maintenance, or repair of all or any part of the Property. The Leases and the Contracts are in full force and effect and there has been no material
amendment, termination or waiver of any right of the Company under any such agreement which will be binding on the Company after the Closing. 
  
 (n) Ordinary Course of the Business. The Company has operated its business in the ordinary course, and since the acquisition of the
Property by the Company the books, accounts and records of the Company have been maintained in the usual, regular and ordinary manner on a consistent basis. 
  
 (o) Permits and Licenses. There has been no material amendment, termination or waiver of any right of the Company under any
governmental license, permit or authorization issued to the Company, and the governmental licenses, permits and authorizations of the Company, if any, are in full force and effect, provided that this representation shall not be deemed given
with respect to any of the foregoing as they may relate to the Property and for which the Required Tenant has responsibility. 
  
 (p) Absence of Certain Payments. None of the Company, or any officer, manager, agent or other Person acting on behalf of the
Company, has directly or indirectly, made contributions, gifts, or payments relating to any political activity or solicitation of business which was prohibited by law or, on behalf of the Company, made any direct or indirect unlawful payment to any
governmental official or employee or established or maintained any unlawful or unreported funds. None of the Company, or any officer, manager, agent or other Person acting on behalf of the Company, has accepted or received any unlawful contribution,
payment, gift, entertainment or expenditure. 
  
 9.2.5 Designated Employees. The Designated Employees include those individuals who have been primarily responsible for the asset management of the Property on behalf of Seller for the two (2) year period immediately prior to
the date hereof (or, if shorter, the period of ownership thereof) and who are currently employed by Seller. 
  

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 9.3 Representations of Prudential. 
  
 9.3.1 Prudential’s Authorization.
Prudential (a) is duly organized, validly existing and in good standing under the Laws of its State of organization and, as and to the extent required by Laws for this Transaction, the State in which the Property is located, (b) is authorized to
consummate the Transaction and fulfill all of its obligations hereunder and under all documents contemplated hereunder to be executed by Prudential, and (c) has all necessary power to execute and deliver this Agreement and all documents contemplated
hereunder to be executed by Prudential, and to perform all of its obligations hereunder and thereunder. This Agreement and all documents contemplated hereunder to be executed by Prudential have been duly authorized by all requisite corporate
action on the part of Prudential and are the valid and legally binding obligation of Prudential, enforceable in accordance with their respective terms. Neither the execution and delivery of this Agreement and all documents contemplated
hereunder to be executed by Prudential, nor the performance of the obligations of Prudential hereunder or thereunder will result in the violation of any Law or any provision of the organizational documents of Prudential or will conflict with any
order or decree of any court or governmental instrumentality of any nature by which Prudential is bound. 
  
 9.3.2 Prudential’s Financial Condition. No petition has been filed by or against Prudential under the Federal
Bankruptcy Code or any similar state or federal Law. 
  
 9.4
General Provisions. 
  
 9.4.1 No
Representation As to Leases. Seller does not represent or warrant that any particular lease or leases will be in force or effect on the Closing Date or that the tenants will have performed their obligations thereunder. 
  
 9.4.2 Seller’s Property Warranties Deemed
Modified. To the extent that Buyer knows or is deemed to know prior to the expiration of the Due Diligence Period that Seller’s Property Warranties are inaccurate, untrue or incorrect in any way, such Seller’s Property Warranties
shall be deemed modified to reflect Buyer’s knowledge or deemed knowledge, as the case may be. 
  
 9.4.3 Notice of Breach; Seller’s Right to Cure. If after the expiration of the Due Diligence Period but prior to the
Closing, Buyer or any Buyer’s Representative obtains actual knowledge that any of Seller’s Warranties are untrue, inaccurate or incorrect in any material respect, Buyer shall give Seller written notice thereof within five (5) Business Days
of obtaining such knowledge (but, in any event, prior to the Closing). If at or prior to the Closing, Seller obtains actual knowledge that any of Seller’s Warranties are untrue, inaccurate or incorrect in any material respect, Seller shall give
Buyer written notice thereof within five (5) Business Days of obtaining such knowledge (but, in any event, prior to the Closing). In either such event, Seller shall have the right to cure such misrepresentation or breach and shall be entitled to a
reasonable adjournment of the Closing (not to exceed ten (10) days) for the purpose of such cure. If Seller is 
  

 - 32 - 

 unable to so cure any misrepresentation or breach, then Buyer, as its sole remedy for any and all such
materially untrue, inaccurate or incorrect representations or warranties, shall elect either (a) to waive such misrepresentations or breaches of representations and warranties and consummate the Transaction without any reduction of or credit against
the Purchase Price, or (b) to terminate this Agreement by written notice given to Seller on the Closing Date, in which event this Agreement shall be terminated, the Deposit shall be returned to Buyer and, thereafter, neither party shall have any
further rights or obligations hereunder except as provided in any section hereof that by its terms expressly provides that it survives any termination of this Agreement. If any of Seller’s Warranties are untrue, inaccurate or incorrect but are
not, in the aggregate, untrue, inaccurate or incorrect in any material respect, Buyer shall be deemed to waive such misrepresentation or breach of warranty, and Buyer shall be required to consummate the Transaction without any reduction of or credit
against the Purchase Price. The untruth, inaccuracy or incorrectness of Seller’s Property Warranties shall be deemed material only if Buyer’s aggregate damages resulting from the untruth, inaccuracy or incorrectness of Seller’s
Property Warranties are reasonably estimated to exceed $50,000.00. The untruth, inaccuracy or incorrectness of any of Seller’s Entity Warranties or any of Prudential’s Warranties shall be deemed material. 
  
 9.4.4 Survival; Limitation on Seller’s
Liability. Except for the statements in the FIRPTA Affidavit to be delivered at Closing (as to which the parties executing such documents shall be and remain liable in accordance with the terms thereof), the Seller’s Property Warranties
shall survive the Closing and not be merged therein for a period of twelve (12) months and Seller shall only be liable to Buyer hereunder for a breach of Seller’s Property Warranties made herein or in any of the documents executed by Seller at
the Closing with respect to which a claim is made by Buyer against Seller on or before twelve (12) months after the date of the Closing. Seller’s Entity Warranties and Prudential’s Warranties shall survive the Closing and not be merged
therein for the period of the applicable statute of limitations, provided that the warranties in Sections 9.2.3(a) and 9.2.4(c) hereof shall survive indefinitely, and Seller and Prudential shall only be liable to Buyer hereunder
for a breach of Seller’s Entity Warranties, other than Sections 9.2.3(a) or 9.2.4(c), made herein or in any of the documents executed by Seller at the Closing with respect to which a claim is made by Buyer against Seller or
Prudential on or before the expiration of the applicable statute of limitations after the date of the Closing. Anything in this Agreement to the contrary notwithstanding, the maximum aggregate liability of Seller for breaches of Seller’s
Warranties shall be limited to the extent set forth in Section 15.15 hereof. Notwithstanding the foregoing, however, if the Closing occurs, Buyer hereby expressly waives, relinquishes and releases any right or remedy available to it at law,
in equity, under this Agreement or otherwise to make a claim against Seller for Liabilities that Buyer may incur, or to rescind this Agreement and the Transaction, as the result of any of Seller’s Warranties being untrue, inaccurate or
incorrect if (a) Buyer actually knew (or, in the case of Seller’s Property Warranties, actually knew or is deemed to know) that such representation or warranty was untrue, inaccurate or incorrect at the time of the Closing, or (b) Buyer’s
damages as a result of such representations or warranties being untrue, inaccurate or incorrect are reasonably estimated to aggregate less than $50,000.00, provided that such $50,000 threshold shall 
  

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 exclude damages from breaches of Seller’s Entity Warranties, for which Buyer is entitled to recover
without regard to any threshold. Notwithstanding anything in this Agreement to the contrary Seller shall not be liable for any punitive or consequential damages. 
  
 9.4.5 Seller’s and Prudential’s Indemnification Obligations. 
  
 (a) Subject to the other provisions of this Article
9, from and after the Closing, Seller and Prudential jointly and severally shall indemnify and hold harmless Buyer and its affiliates and its and their respective officers, directors, direct or indirect owners, partners and agents (the
“Buyer Indemnified Parties”), from and against any Liabilities (including, without limitation, reasonable attorneys’ fees and litigation costs), as incurred, including those incurred indirectly through the ownership of the
Company and those incurred directly by the Company, to the extent they relate to, arise out of or are the result of (i) the breach or inaccuracy in any of Seller’s Entity Warranties or breach by Seller of any of its covenants set forth in
Section 10.2 herein, (ii) any personal or bodily injury or death or property damage (other than damage to the Property itself) occurring prior to the Closing at the Property, or (iii) any other third party claims against any Buyer Indemnified
Party or the Company based on any act or omission or other event occurring prior to the Closing, for which Buyer would not have been liable or incurred or suffered loss, directly or indirectly, if Buyer had only purchased the Property and not the
LLC Interests in the Company. In connection with the foregoing, Buyer acknowledges and agrees that its right to assert any claim for Liabilities for breach of Seller’s Entity Warranties pursuant to this Section 9.4.5(a) is limited to the
survival period for the applicable representation and warranty, as provided in Section 9.4.4. 
  
 (b) Seller and Prudential jointly and severally shall indemnify and hold harmless the Buyer Indemnified Parties and the Company from and
against any and all Taxes that are imposed on or borne by any Buyer Indemnified Party or the Company (directly or indirectly) as well as all costs (including, without limitation, reasonable attorneys’ fees and litigation costs) suffered or
incurred by any Buyer Indemnified Party or the Company in investigation, defense, litigation or settlement of any claim for Taxes attributable to the Company, or Seller’s or Prudential’s direct or indirect interest in the Company, for all
periods ending on or prior to the Closing Date and for any period beginning before and ending after the Closing Date, for the portion of such period ending on the Closing Date, including without limitation, arising from any matter listed on
Exhibit Q or as a result of the entering into of the Option Agreement and grant of the Option and rights to cash flow and distributions or other transfers of rights or interests of the Company to Seller. 
  
 (c) Seller and Prudential jointly and severally shall
indemnify and hold harmless the Buyer Indemnified Parties and the Company from and against any and all transfer and similar Taxes that are imposed on or borne by any Buyer Indemnified Party or the Company (directly or indirectly) as well as all
costs (including, without limitation, reasonable attorneys’ fees and litigation costs) suffered or incurred by any Buyer Indemnified Party or the Company in investigation, defense, litigation or settlement of any claim for such transfer or
similar Taxes arising out of or from the 
  

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 Buyer’s acquisition of the Option, the Option Agreement and the legal and beneficial title to the
LLC Interests, and the exercise of the Option not provided for as Buyer’s responsibility on the Closing Statement Agreement. 
  
 (d) Prudential acknowledges and agrees that the Buyer would not enter into this Agreement without Prudential becoming a party hereto for
purposes of this Article 9 and that as the parent of the Seller it will derive substantial indirect benefits from this Agreement. 
  
 (e) Seller and Prudential jointly and severally agree to pay the Buyer Indemnified Parties’ and the Company’s costs (including,
without limitation, reasonable attorneys’ fees and litigation costs) in any action or proceeding to enforce the provisions of this Section 9.4.5, provided that such parties are successful in any action with respect to the
applicability of this Section 9.4.5. 
  
 (f) The
Company shall use good faith efforts to pursue insurance coverage provided under the IBC Lease that may be available to it as an additional named insured with respect to any liabilities for which indemnification may be available under Section
9.4.5(a)(ii), provided however that the Seller’s and Prudential’s indemnification obligations hereunder shall not be contingent or conditioned on such efforts by the Company, the provision of such insurance or the collection of any
insurance proceeds. Seller’s and Prudential’s indemnification obligations with respect to matters indemnified under Section 9.4.5(a)(ii) and (iii) shall be net of any insurance amounts actually received by the Company from insurance
coverage provided by the Required Tenant under the IBC Lease. 
  
 9.4.6 Claims. (a) If a Buyer Indemnified Party intends to seek indemnification against a third party claim pursuant to this Article 9, such Buyer Indemnified Party shall promptly notify Seller or
Prudential, in writing, of such claim describing such claim in reasonable detail, provided, that the failure to provide such notice shall not affect the obligations of the Seller and Prudential hereunder unless and only to the extent they are
actually prejudiced thereby. Seller or Prudential shall have thirty (30) days after receipt of such notice to decide whether it will undertake, conduct and control, through counsel of its own choosing and at its own expense, the settlement or
defense thereof, and if it so decides, the Buyer Indemnified Party shall cooperate with it in connection therewith, provided, that the Buyer Indemnified Party may participate in such settlement or defense through counsel chosen by it, and
provided further, that the reasonable fees and expenses of such counsel shall be borne by the Seller and Prudential. The Seller (and Prudential) shall have the right to settle or compromise any action which it determines to undertake, conduct
and control as aforesaid, provided, that it first obtain the consent of the Buyer Indemnified Party(ies) which consent shall not be unreasonably withheld, delayed or conditioned. As long as the Seller or Prudential is contesting any such
claim in good faith, the Buyer Indemnified Party shall not pay or settle any such claim without the consent of the Seller or Prudential (which consent shall not be unreasonably withheld or delayed). 
  

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 (b) The Seller Indemnified Party, Prudential and the Buyer Indemnified Party shall
cooperate fully in all aspects of any investigation, defense, pretrial activities, trial, compromise, settlement or discharge of any claim in respect of which indemnity is sought pursuant to this Article 9, including, but not limited to, by
providing the other party with reasonable access to employees and officers (including as witnesses) and other information. 
  
 9.4.7 Survival. The provisions of Sections 9.4.3 through this Section 9.4.7 shall survive the Closing.

  
 ARTICLE 10 - COVENANTS 
  
 10.1 Buyer’s Covenants. Buyer hereby covenants as follows:

  
 10.1.1 Confidentiality. Buyer
acknowledges that any information heretofore or hereafter furnished to Buyer with respect to the Property has been and will be so furnished on the condition that Buyer maintain the confidentiality thereof. Accordingly, and subject to the exceptions
set forth below (including as set forth in Section 10.3.1), Buyer shall hold, and shall cause Buyer’s Representatives to hold, in strict confidence, and Buyer shall not disclose, and shall prohibit Buyer’s Representatives from
disclosing, to any other person without the prior written consent of Seller until the Closing shall have been consummated, (a) the terms of the Agreement, (b) any of the information in respect of the Property delivered to or for the benefit of Buyer
whether by any Buyer’s Representatives or by Seller or any of the Seller Parties, including, but not limited to, any information heretofore or hereafter obtained by Buyer or any Buyer’s Representatives in connection with its Due Diligence,
and (c) the identity of Seller, and, if applicable, the identity of any direct or indirect owner of any beneficial interest in Seller. In the event the Closing does not occur or this Agreement is terminated, Buyer, upon written request of Seller,
shall promptly return to Seller all copies of documents containing any of such information provided by Seller or any of its agents, representatives or employees without retaining any copy thereof or extract therefrom. Notwithstanding anything to the
contrary hereinabove set forth, Buyer may disclose such information (a) on a need-to-know basis to its employees, members of professional firms serving it or potential lenders, (b) as any governmental agency may require in order to comply with
applicable Laws, and (c) to the extent that such information is a matter of public record. The provisions of this Subsection 10.1.1 shall survive any termination of this Agreement. 
  
 10.1.2 Buyer’s Indemnity. Buyer hereby
agrees to indemnify, defend, and hold Seller and each of the other Seller Parties free and harmless from and against any and all Liabilities (including reasonable attorneys’ fees, expenses and disbursements) to the extent caused by the acts or
omissions of Buyer or any of Buyer’s Representatives arising out of or resulting from (a) the breach of the terms of Subsection 10.1.1 or (b) the entry on the Real Property and/or the conduct of any Due Diligence by Buyer or any of
Buyer’s Representatives at any time prior to the Closing; provided, however, that Buyer’s obligations under this clause (b) shall not apply to the mere discovery of an pre-existing environmental or physical condition at the
Property. The foregoing indemnity shall survive the Closing (and not be merged therein) or any earlier termination of this Agreement. 
  

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 10.1.3 Change in Name. No later than five (5) days after the Closing Date
Buyer shall file amendments to the Company’s Certificate of Formation and Application for Registration with the Delaware Secretary of State and the Secretary of the Commonwealth of Pennsylvania, respectively, to omit the word “Pru”
from the name of the Company. 
  
 10.2 Seller’s
Covenants. Seller hereby covenants as follows: 
  
 10.2.1 Service Contracts. 
  
 Subject to the terms of the IBC Lease, without Buyer’s prior consent, which consent shall not be unreasonably withheld or delayed, between the date hereof and the Closing Date Seller shall not permit the Company to extend, renew,
replace or modify any Contract or enter into any new service contract or agreement unless such Contract, service contract or agreement (as so extended, renewed, replaced or modified) can be terminated by the owner of the Property without penalty on
not more than thirty (30) days’ notice. Seller shall provide Buyer not less than three (3) Business Days’ prior written notice to provide its consent to any such contract, extension, renewal, replacement or modification. If Buyer fails to
object in writing to any such proposed action within three (3) Business Days after receipt of the aforementioned notice, Buyer shall be deemed to have approved the proposed action. Buyer’s consent shall not be unreasonably withheld or delayed
with respect to any such transaction that is proposed prior to the end of the Due Diligence Period. Buyer, in its sole and absolute discretion, shall be entitled to grant or withhold its consent with respect to any such transaction that is proposed
between the end of the Due Diligence Period and the Closing. This Section 10.2.1 shall in no way limit the rights the Required Tenant may have under the IBC Lease, and the exercise of any such rights shall not be deemed to be a violation by Seller
of the provisions of this Section. 
  
 10.2.2
Rents. Neither Seller nor the the Company shall accept any payment of rent under the IBC Lease more than thirty (30) days in advance of the due date. 
  
 10.2.3 Further Encumbrances. Except with Buyer’s prior written consent, neither Seller
nor the Company shall grant or otherwise create or consent to the creation of any easement, restriction, lien, assessment or encumbrance respecting the Property or any of the LLC Interests. 
  
 10.2.4 Ordinary Course of Business. Seller
shall cause the Company to carry on its business and operate the Property in the ordinary course of business consistent with past practice and shall use its commercially reasonable efforts to preserve intact the Company and its business
relationships, and Seller shall not permit the Company to undertake any business activity other than the ownership of the Property or enter into any other contracts or agreements or assume or incur any additional obligation or 
  

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 indebtedness, and Seller shall cause the Company to perform and discharge all of the duties and
obligations and comply with the covenants and agreements of the landlord or lessor under the IBC Lease and any other lease at the Property in the manner and within the time limits required thereunder. In addition, from the date hereof until Closing,
Seller shall not permit the Company or any of its managers, representatives or agents to: 
  
 (i) issue or agree to issue any additional membership or supporting interests or securities, rights or options exercisable or convertible
into membership interests; 
  
 (ii) merge or
consolidate with any other Person or acquire any assets outside of the normal operation of the Property; 
  
 (iii) sell, lease, license or otherwise dispose of any assets or property; 
  
 (iv) fail to continue to properly maintain, insure, and protect the Property consistent with past practice
and in accordance with the Leases; 
  
 (v) cancel
any debts owed to the Company or waive any claims or rights of the Company; 
  
 (vi) agree or commit to do any of the foregoing. 
  
 10.2.5 Employees. Seller shall not allow the Company to: (i) enter into any agreement with any person, labor union, or
association regarding the employment of persons for the Company, (ii) institute or adopt any Employee Benefit Arrangement, (iii) hire any persons as employees or independent contractors, or (iv) enter into any agreement or Employee Benefit
Arrangement with any person serving as an officer, manager, director, member or in any other similar capacity of the Company. 
  
 10.2.6 No Action. Neither Seller nor the Company will knowingly take, or agree or commit to take, any action that would make
any representation or warranty of Seller hereunder inaccurate in any respect at or prior to the Closing Date. 
  
 10.2.7 Cooperation with Buyers, Auditors and SEC Requirements. Seller or Prudential shall provide to Buyer (at Buyer’s
expense) copies of, or shall provide Buyer access to, such factual information as may be reasonably requested by Buyer, and in the possession or control of Seller, Prudential, or its property manager (if any) or accountants, to enable Buyer (and/or
Wells Operating Partnership, L.P.) to file its or their Form 8-K, if, as and when such filing may be required by the Securities and Exchange Commission (“SEC”). At Buyer’s sole cost and expense, Seller or Prudential shall allow
Buyer’s auditor (Ernst & Young LLP or any successor auditor selected by Buyer) to conduct an audit of the income statements of the Property for 2001, 2002 and 2003 (to the date of Closing), and shall cooperate (at no cost to Seller or
Prudential) with Buyer’s auditor in the conduct of such audit. In addition, Seller (and Prudential) agree to provide to Buyer’s auditor a letter of representation in the form attached hereto as Exhibit F and by this reference
made a part hereof (the “Representation Letter”), and, if requested by such auditor, historical financial statements for the Property, including income and 
  

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 balance sheet data for the Property, whether required before or after Closing. Without limiting the
foregoing, (i) Buyer or its designated independent or other auditor may audit Seller’s or Prudential’s operating statements of the Property at Buyer’s expense; and Seller and Prudential shall provide such documentation as Buyer or its
auditor may reasonably request in order to complete such audit, and (ii) Seller and Prudential shall furnish to Buyer such financial and other information with respect to the Company and the Property as may be reasonably required by Buyer to make
any required filings with the SEC or other governmental authority; provided, however, that the foregoing obligations shall be limited to providing such information or documentation as may be in the possession of, or reasonably obtainable by,
Seller, its property manager or accountants, or Prudential, at no cost to Seller or Prudential, and in the format that Seller or Prudential (or its property manager or accountants) have maintained such information. 
  
 10.3 Mutual Covenants. 
  
 10.3.1 Publicity. Seller and Buyer each hereby
covenant and agree that (a) prior to the Closing neither Seller nor Buyer shall issue any Release (as hereinafter defined) with respect to the Transaction without the prior consent of the other, except to the extent required by applicable Law, and
(b) after the Closing, any Release issued by either Seller or Buyer shall be subject to the review and approval of both parties (which approval shall not be unreasonably withheld or delayed), except to the extent required by applicable Law.
If either Seller or Buyer is required by applicable Law to issue a Release, such party shall use reasonable efforts prior to the issuance of such Release to deliver a copy of the proposed Release to the other party for its review. As used herein,
the term “Release” shall mean any press release or tombstone or other advertisement or public statement with respect to the Transaction or this Agreement. 
  
 10.3.2 Brokers. Seller and Buyer expressly acknowledge that Seller’s Broker has acted as
the exclusive broker with respect to the Transaction and with respect to this Agreement. Seller shall pay any brokerage commission due to Seller’s Broker in accordance with the separate agreement between Seller and Seller’s Broker. Seller
agrees to hold Buyer harmless and indemnify Buyer from and against any and all Liabilities (including reasonable attorneys’ fees, expenses and disbursements) suffered or incurred by Buyer as a result of any claims by Seller’s Broker or any
other party claiming to have represented Seller as broker in connection with the Transaction. Buyer agrees to hold Seller harmless and indemnify Seller from and against any and all Liabilities (including reasonable attorneys’ fees, expenses and
disbursements) suffered or incurred by Seller as a result of any claims by any party (other than Seller’s Broker) claiming to have represented Buyer as broker in connection with the Transaction. 
  
 10.3.3 Tax Protests, Tax Refunds and Credits.
Subject to the rights of the Required Tenant under the IBC Lease, Seller shall have the right to continue and to control the progress of and to make all decisions with respect to the contest of (including the submission and pursuit of any refund
claims) any Taxes due and payable during the Closing Tax Year and all prior Tax Years, provided that the Company and Buyer are held harmless and fully indemnified with respect thereto pursuant to the procedure set forth in 
  

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 Section 9.4.6. Subject to the rights of the Required Tenant under the IBC Lease, Buyer shall have
the right to control the progress of and to make all decisions with respect to the contest of Taxes due and payable during all Tax Years subsequent to the Closing Tax Year. Seller shall prepare and file in a timely manner all appropriate Tax Returns
of the Company, if any, and other information for the period beginning prior to the Closing Date and ending on or after the Closing Date in the same manner as such Tax Returns and other information heretofore have been prepared, except for changes
required by changes in applicable Law or changes in fact and shall pay the portion of such Taxes shown on such Tax Returns which relate to the period beginning prior to the Closing Date and ending on and through the Closing Date. Buyer shall pay the
portion of such Taxes shown on such Tax Returns which relate to the period after the Closing Date. Taxes for such tax periods that begin before and end after the Closing Date shall be apportioned between Buyer and Seller on the basis of an
“interim closing of the books.” In the case of Taxes other than Taxes based upon or related to income, such Taxes for the period prior to the Closing shall be deemed to be the amount of such Taxes multiplied by a fraction the numerator of
which is the number of days in the period ending on the Closing Date and the denominator of which is the number of days in the tax period. Seller shall pay to Buyer its proportionate share of such Taxes no later than three (3) days prior to the due
date and Buyer shall cause the Company to pay all of such Taxes to the relevant taxing authority. Buyer shall cooperate with Seller in the preparation and filing of such Tax Returns and Seller shall provide a copy thereof along with the work papers
related thereto to the Buyer for its comment and approval at least thirty (30) days prior to the filing thereof. To the extent any items are not covered by past practices, such Tax Returns shall be prepared in accordance with reasonable tax
accounting practices selected by Buyer. 
  
 The
Seller and Buyer shall reasonably cooperate, and shall cause their respective Affiliates, officers, employees, members, agents, auditors and representatives reasonably to cooperate, in preparing and filing all Tax Returns (including amended returns
and claims for refund), including maintaining and making available to each other all records necessary in connection with Taxes and in resolving all disputes and audits with respect to all taxable periods relating to Taxes. After the date hereof,
the Seller and Buyer shall provide each other and their respective agents and representatives timely access and reasonable assistance and cooperation during normal business hours in making tax information relating to the Company and copies thereof
relating to taxable periods of the Company available to each other and their respective agents and representatives, including access for the timely filing of short period returns. Seller and Buyer agree that each of them shall preserve and keep all
pertinent books of account, papers and records relating to the Company held by Buyer or Seller either until the statute of limitations to which they relate has expired by lapse of time (but not more than seven (7) years) or by the terms of an
agreement for extension of time or until such date as the parties hereto shall have otherwise agreed and ending on or before the date hereof. 
  
 Any refunds and credits of Taxes of the Company with respect to (i) any taxable period ending on or before the Closing Date shall be for the account of
Seller and shall be paid to Seller within five business days after the Buyer receives such refund or utilizes such 
  

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 credit, and (ii) any taxable period beginning after the Closing Date shall be for the account of the
Buyer, and if received or utilized by the Seller or any of their Affiliates shall be paid by the Seller to the Buyer within five business days after the Seller or any of its Affiliates receives such refund or utilizes such credit and (iii) except as
provided in the next sentence, any period which includes (but does not begin or end) on the Closing Date (the “Straddle Period”) shall be apportioned between the Seller and the Buyer on the basis of an “interim closing of the
books.” In the case of a refund or credit attributable to any Taxes that are imposed on a periodic basis and are attributable to the Straddle Period, other than Taxes based upon or related to income, the refund or credit of such Taxes of the
Company for the period prior to the Closing shall be deemed to be the amount of such refund or credit for the Straddle Period multiplied by a fraction the numerator of which is the number of days in the Straddle Period ending on the Closing Date and
the denominator of which is the number of days in the Straddle Period. 
  
 10.3.4 Preservation of Records. Seller and Buyer agree that each of them shall preserve and keep the records held by it relating to the business of the Company for a period of three years after the
Closing Date, and shall make such records available to the other party as may be reasonably required, at reasonable times and upon reasonable notice. 
  
 10.4 Survival. The provisions of Section 10.2.2 through 10.2.7 and Section 10.3 shall survive the Closing (and not be merged
therein) or earlier termination of this Agreement. 
  
 ARTICLE
11 – FAILURE OF CONDITIONS 
  
 11.1 To
Seller’s Obligations. If, on or before the Closing Date, (i) Buyer is in default of any of its obligations hereunder, or (ii) any of Buyer’s representations or warranties are untrue in any material respect, or (iii) the Closing
otherwise fails to occur by reason of Buyer’s failure or refusal to perform its obligations hereunder in a prompt and timely manner, and such circumstance in (i), (ii) or (iii) continues for five (5) days after written notice from Seller to
Buyer, which written notice shall detail such default, untruth or failure, as applicable, then Seller may elect to (a) terminate this Agreement by written notice to Buyer; or (b) waive the condition and proceed to close the Transaction. If this
Agreement is so terminated, then Seller shall be entitled to the Deposit as liquidated damages, and thereafter neither party to this Agreement shall have any further rights or obligations hereunder other than any arising under any section herein
which expressly provides that it survives the termination of this Agreement. 
  
 If, on or before the Closing Date, (i) Wells Brea is in default of any of its obligations under the Brea Purchase Agreement, or (ii) any of Wells Brea’s representations or warranties set forth in the Brea
Purchase Agreement are untrue in any material respect, or (iii) the Closing under the Brea Purchase Agreement otherwise fails to occur by reason of Wells Brea’s failure or refusal to perform its obligations thereunder in a prompt and timely
manner, and such circumstance in (i), (ii) or (iii) continues for five (5) days after written notice from Seller to Wells Brea, which written notice shall detail such default, untruth or failure, as applicable, then Seller may elect to (a) terminate
this Agreement by written notice to Buyer; provided that Seller concurrently terminates the Brea Purchase Agreement; or (b) waive the condition and proceed to 
  

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 close the Transaction. If this Agreement is so terminated, then Seller shall be entitled to the Deposit as liquidated
damages, and thereafter neither party to this Agreement shall have any further rights or obligations hereunder other than any arising under any provision herein which expressly provides that it survives the termination of this Agreement. 

 
 11.2 To Buyer’s Obligations. If, at the Closing, (i)
Seller is in default of any of its obligations hereunder, or (ii) any of Seller’s representations or warranties are untrue in any material respect, or (iii) the Closing otherwise fails to occur by reason of Seller’s failure or refusal to
perform its obligations hereunder in a prompt and timely manner, or (iv) Prudential is in default of any of its obligations under the Option Exercise Agreement or (v) any of Prudential’s representations or warranties set forth in the Option
Exercise Agreement and such circumstance in (i), (ii), (iii), (iv) or (v) continues for five (5) days after written notice from Buyer to Seller, which written notice shall detail such default, untruth or failure, as applicable, Buyer shall have the
right, to elect, as its sole and exclusive remedy, to (a) terminate this Agreement by written notice to Seller promptly after which the Deposit shall be returned to Buyer, or (b) waive the condition and proceed to close the Transaction, or (c) seek
specific performance of this Agreement by Seller. As a condition precedent to Buyer exercising any right it may have to bring an action for specific performance hereunder, Buyer must commence such an action within ninety (90) days after the
occurrence of Seller’s default. Buyer agrees that its failure to timely commence such an action for specific performance within such ninety (90) day period shall be deemed a waiver by it of its right to commence an action for specific
performance as well as a waiver by it of any right it may have to file or record a notice of lis pendens or notice of pendency of action or similar notice against any portion of the Property. 
  
 If, at the Closing, (i) Seller is in default of any of its obligations under
the Brea Purchase Agreement, or (ii) any of Seller’s representations or warranties set forth in the Brea Purchase Agreement are untrue in any material respect, or (iii) the Closing under the Brea Purchase Agreement otherwise fails to occur by
reason of Seller’s failure or refusal to perform its obligations thereunder in a prompt and timely manner, or (iv) Prudential is in default of any of its obligations under the Option Exercise Agreement, or (v) any of Prudential’s
representations or warranties set forth in the Option Exercise Agreement are untrue in any material respect, and such circumstance in (i), (ii), (iii), (iv) or (v) continues for five (5) days after written notice from Buyer to Seller, which written
notice shall detail such default, untruth or failure, as applicable, Buyer shall have the right, to elect, as its sole and exclusive remedy, to (a) terminate this Agreement by written notice to Seller, provided that in the case of the
circumstances described in clauses (i), (ii) or (iii) above, Buyer concurrently terminates the Brea Purchase Agreement, promptly after which the Deposit shall be returned to Buyer, or (b) waive the condition and proceed to close the Transaction, or
(c) seek specific performance of this Agreement by Seller. As a condition precedent to Buyer exercising any right it may have to bring an action for specific performance hereunder, Buyer must commence such an action within ninety (90) days after the
occurrence of Seller’s default. Buyer agrees that its failure to timely commence such an action for specific performance within such ninety (90) day period shall be deemed a waiver by it of its right to commence an action for specific
performance as well as a waiver by it of any right it may have to file or record a notice of lis pendens or notice of pendency of action or similar notice against any portion of the Property. 
  

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 11.3 Termination of the Brea Purchase Agreement. If the Brea Purchase Agreement is
terminated by either Wells Brea or Seller (except in the case of a termination resulting from Seller’s default under the Brea Purchase Agreement or from exercise by Bank of America, N.A. of its right of first refusal to purchase the property
described in the Brea Purchase Agreement), Seller may elect to terminate this Agreement by providing Buyer with written notice of such election to terminate, promptly after which the Deposit shall be returned to Buyer. If the Brea Purchase Agreement
is terminated by either Wells Brea or Seller (except in the case of a termination resulting from Wells Brea’s default under the Brea Purchase Agreement), Buyer may elect to terminate this Agreement by providing Seller with written notice of
such election to terminate, promptly after which the Deposit shall be returned to Buyer. 
  
 ARTICLE 12 – CONDEMNATION/CASUALTY 
  
 12.1 Right to Terminate. If, after the date hereof, (a) any portion of the Property is taken by condemnation or eminent domain (or is the subject of a pending taking which has not yet been consummated),
or (b) any portion of the Property is damaged or destroyed (excluding routine wear and tear), Seller shall notify Buyer in writing of such fact promptly after obtaining knowledge thereof. If the Property is the subject of a Major
Casualty/Condemnation that occurs after the date hereof, Buyer shall have the right to terminate this Agreement by giving written notice to Seller no later than ten (10) Business Days after the giving of Seller’s notice, and the Closing Date
shall be extended, if necessary, to provide sufficient time for Buyer to make such election. The failure by Buyer to so elect in writing to terminate this Agreement within such ten (10) Business Day period shall be deemed an election not to
terminate this Agreement. If this Agreement is terminated pursuant to this Section 12.1, the Deposit shall be returned to Buyer and, thereafter, this Agreement shall terminate and neither party to this Agreement shall have any further rights
or obligations hereunder other than any arising under any section herein which expressly provides that it shall survive the termination of this Agreement. 
  
 12.2 Allocation of Proceeds and Awards. If a condemnation or casualty occurs after the date hereof and this Agreement is not terminated as
permitted pursuant to the terms of Section 12.1, then this Agreement shall remain in full force and effect, Buyer shall acquire the Option upon the terms and conditions set forth herein and at the Closing, subject to the terms of the IBC
Lease: 
  
 (a) if the awards or proceeds, as the
case may be, have been paid to the Company prior to Closing, such award or proceeds on account of such condemnation or casualty shall remain as property of the Company less an amount equal to the Seller-Allocated Amounts which may be
distributed to Seller; and 
  
 (b) to the extent
that such award or proceeds have not been paid to the Company prior to Closing, if a casualty has occurred and such casualty is an insured casualty, Buyer shall receive a credit at Closing equal to the Company’s deductible with respect to such
casualty, less an amount equal to the Seller-Allocated Amounts, provided, however, that within three (3) Business Days after receipt of such awards or proceeds, Buyer shall pay to Seller an amount equal to the Seller-Allocated Amounts not
previously paid to Seller. 
  

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 12.3 Waiver. The provisions of this Article 12 supersede the provisions of any
applicable statutory or decisional law with respect to the subject matter of this Article 12. 
  
 ARTICLE 13 – ESCROW 
  
 The Deposit and any other sums (including, without limitation, any interest earned thereon) which the parties agree shall be held in escrow (herein collectively called the “Escrow Deposits”) and any
other documents to be held in escrow (the “Escrow Documents”), shall be held by the Escrow Agent, in trust, and disposed of only in accordance with the following provisions: 
  
 13.1 Deposit. The Escrow Agent shall invest the Escrow Deposits
in government insured interest-bearing instruments reasonably satisfactory to both Buyer and Seller, shall not commingle the Escrow Deposits with any funds of the Escrow Agent or others, and shall promptly provide Buyer and Seller with confirmation
of the investments made. 
  
 13.2 Delivery. If the
Closing occurs, the Escrow Agent shall deliver the Escrow Deposits to, or upon the instructions of, Seller on the Closing Date. The Escrow Agent shall deliver the Escrow Documents in accordance with the instructions received by Buyer and Seller on
the Closing Date. 
  
 13.3 Failure of Closing. If
for any reason the Closing does not occur, the Escrow Agent shall deliver the Escrow Deposits to Seller or Buyer only upon receipt of a written demand therefor from such party, subject to the following provisions of this Section 13.3. If for
any reason the Closing does not occur and either party makes a written demand upon the Escrow Agent for payment of the Escrow Deposits, the Escrow Agent shall give written notice to the other party of such demand. If the Escrow Agent does not
receive a written objection from the other party to the proposed payment within ten (10) days after the giving of such notice, the Escrow Agent is hereby authorized to make such payment. If the Escrow Agent does receive such written objection within
such period, the Escrow Agent shall continue to hold such amount until otherwise directed by written instructions signed by Seller and Buyer or a final judgment of a court. 
  
 13.4 Stakeholder. The parties acknowledge that the Escrow Agent is acting solely as a stakeholder at their
request and for their convenience, that the Escrow Agent shall not be deemed to be the agent of either of the parties, and that the Escrow Agent shall not be liable to either of the parties for any action or omission on its part taken or made in
good faith, and not in disregard of this Agreement, but shall be liable for its negligent acts and for any Liabilities (including reasonable attorneys’ fees, expenses and disbursements) incurred by Seller or Buyer resulting from the Escrow
Agent’s mistake of law respecting the Escrow Agent’s scope or nature of its duties. Seller and Buyer shall jointly and severally indemnify and hold the Escrow Agent harmless from and against all Liabilities (including reasonable
attorneys’ fees, expenses and disbursements) incurred in connection with the performance of the Escrow Agent’s duties hereunder, except with respect to actions or omissions taken or made by the Escrow Agent in bad faith, in disregard of
this Agreement or involving negligence on the part of the Escrow Agent. 
  

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 13.5 Taxes. Buyer shall pay any income taxes on any interest earned on the Escrow Deposits.
Buyer represents and warrants to the Escrow Agent that its taxpayer identification number is 20-0484575. 
  
 13.6 Execution By Escrow Agent. The Escrow Agent has executed this Agreement in the place indicated on the signature page hereof in order to
confirm that the Escrow Agent has received and shall hold the Escrow Deposits, in escrow, and shall disburse the Escrow Deposits pursuant to the provisions of this Article 13. 
  
 ARTICLE 14 – LEASE EXPENSES 
  
 14.1 New Leases; Lease Modifications. After the date of this Agreement, except as may be permitted by the
terms of this Section 14.1, Seller shall not, without Buyer’s prior written consent permit the Company to, (a) enter into a New Lease; (b) modify or amend any Lease (except pursuant to the exercise by a tenant of a renewal, extension or
expansion option or other right contained in such tenant’s lease); or (c) consent to any assignment or sublease in connection with any Lease. Seller shall furnish Buyer with a written notice of the proposed action which shall contain
information regarding the proposed action that is reasonably necessary to enable Buyer to make informed decisions with respect to the advisability of the proposed action. If Buyer fails to object in writing to any such proposed action within five
(5) Business Days after receipt of the aforementioned information, Buyer shall be deemed to have approved the proposed action. Buyer’s consent shall not be unreasonably withheld or delayed with respect to any such transaction that is proposed
prior to the end of the Due Diligence Period. Buyer, in its sole and absolute discretion, shall be entitled to grant or withhold its consent with respect to any such transaction that is proposed between the end of the Due Diligence Period and the
Closing. Notwithstanding the foregoing, if any Lease requires that the landlord’s consent be given under the applicable circumstances, then Buyer shall be deemed ipso facto to have approved such action; and if any Lease requires that the
landlord’s consent not be unreasonably withheld under the applicable circumstances or is otherwise subject to certain limits or conditions, then Buyer shall be deemed to be subject to the same limits and conditions in connection with
Buyer’s consent. Any notice from Buyer rejecting the proposed action shall include a description of the reasons for Buyer’s rejection. Seller shall deliver to Buyer a true and complete copy of each such New Lease, renewal or extension
agreement, modification, or amendment, as the case may be, promptly after the execution and delivery thereof. 
  
 14.2 Lease Enforcement. The Company shall have the right, but not the obligation (except to the extent that the Company’s failure to
act shall constitute a waiver of such rights or remedies), to enforce the rights and remedies of the landlord under any Lease, by summary proceedings or otherwise (including, without limitation, the right to remove any tenant), and to apply all or
any portion of any security deposits then held by the Company toward any loss or damage incurred by the Company by reason of any defaults by tenants, and the exercise of any such rights or remedies shall not affect the obligations of Buyer under
this Agreement in any manner or entitle Buyer to a reduction in, or credit or allowance against, the Purchase Price or give rise to any other claim on the part of Buyer. 
  

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 14.3 Lease Expenses. At Closing, Buyer shall reimburse Seller for any and all Reimbursable
Lease Expenses to the extent that the same have been paid by the Company prior to Closing. In addition, at Closing, Buyer shall assume the Company’s obligations to pay, when due (whether on a stated due date or accelerated) any Reimbursable
Lease Expenses unpaid as of the Closing, and Buyer hereby agrees to indemnify and hold Seller harmless from and against any and all Liabilities (including reasonable attorneys’ fees, expenses and disbursements) with respect to such Reimbursable
Lease Expenses which remain unpaid for any reason at the time of Closing, which obligations of Buyer shall survive the Closing and shall not be merged therein. Each party shall make available to the other all records, bills, vouchers and other data
in such party’s control verifying Reimbursable Lease Expenses and the payment thereof. 
  
 ARTICLE 15 – MISCELLANEOUS 
  
 15.1 Buyer’s Assignment. Buyer shall not assign this Agreement or its rights hereunder to any individual or entity without the prior written consent of Seller, which consent Seller may grant or withhold in its sole
discretion, and any such assignment shall be null and void ab initio, provided, however, Buyer may assign its rights under this Agreement to an affiliate without the consent of Seller, to Wells Real Estate Investment Trust, Inc.
(“Wells Trust”) or Wells Capital, Inc., or any entity controlled by or under common control with Buyer, Wells Trust or Wells Capital, Inc. In the event of any permitted assignment by Buyer, any assignee shall assume any and all
obligations and liabilities of Buyer under this Agreement but, notwithstanding such assumption, Buyer shall continue to be liable hereunder. 
  
 15.2 Designation Agreement. Section 6045(e) of the United States Internal Revenue Code and the regulations promulgated thereunder (herein
collectively called the “Reporting Requirements”) require an information return to be made to the United States Internal Revenue Service, and a statement to be furnished to Seller, in connection with the Transaction. Escrow Agent
shall be the “Reporting Person” as hereinafter provided; Escrow Agent is either (i) the person responsible for closing the transaction (as described in the Reporting Requirements) or (ii) the disbursing title or escrow company that is most
significant in terms of gross proceeds disbursed in connection with the transaction (as described in the Reporting Requirements). Accordingly: 
  
 (a) Escrow Agent is hereby designated as the “Reporting Person” (as defined in the Reporting Requirements) for the
Transaction. Escrow Agent shall perform all duties that are required by the Reporting Requirements to be performed by the Reporting Person for the Transaction. 
  

(b) Seller and Buyer shall furnish to Escrow Agent, in a timely manner, any information requested by Escrow Agent and necessary for
Escrow Agent to perform its duties as Reporting Person for the Transaction. 
  
 (c) Escrow Agent hereby requests Seller to furnish to Escrow Agent Seller’s correct taxpayer identification number. Seller acknowledges that any failure by Seller to provide Escrow Agent with Seller’s
correct taxpayer identification number may subject Seller to civil or criminal penalties imposed by law. Accordingly, Seller hereby certifies to Escrow Agent, under penalties of perjury that Seller’s correct taxpayer identification number is
22-1856768. 
  

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 (d) Each of the parties hereto shall retain this Agreement for a period of four (4) years
following the calendar year during which Closing occurs. 
  
 15.3 Survival/Merger. Except for the provisions of this Agreement which are explicitly stated to survive the Closing, (a) none of the terms of this Agreement shall survive the Closing, and (b) the delivery of the Assignment
and any other documents and instruments by Seller and the acceptance thereof by Buyer shall effect a merger, and be deemed the full performance and discharge of every obligation on the part of Buyer and Seller to be performed hereunder. 

 
 15.4 Integration; Waiver. This Agreement, together with the
Exhibits hereto, embodies and constitutes the entire understanding between the parties with respect to the Transaction and all prior agreements, understandings, representations and statements, oral or written, are merged into this Agreement. Neither
this Agreement nor any provision hereof may be waived, modified, amended, discharged or terminated except by an instrument signed by the party against whom the enforcement of such waiver, modification, amendment, discharge or termination is sought,
and then only to the extent set forth in such instrument. No waiver by either party hereto of any failure or refusal by the other party to comply with its obligations hereunder shall be deemed a waiver of any other or subsequent failure or refusal
to so comply. 
  
 15.5 Governing Law. This Agreement
shall be governed by, and construed in accordance with, the law of the State in which the Property is located. 
  
 15.6 Captions Not Binding; Exhibits. The captions in this Agreement are inserted for reference only and in no way define, describe or limit
the scope or intent of this Agreement or of any of the provisions hereof. All Exhibits attached hereto shall be incorporated by reference as if set out herein in full. 
  
 15.7 Binding Effect. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto
and their respective successors and permitted assigns. 
  
 15.8
Severability. If any term or provision of this Agreement or the application thereof to any persons or circumstances shall, to any extent, be invalid or unenforceable, the remainder of this Agreement or the application of such term or
provision to persons or circumstances other than those as to which it is held invalid or unenforceable shall not be affected thereby, and each term and provision of this Agreement shall be valid and enforced to the fullest extent permitted by law.

  
 15.9 Notices. Any notice, request, demand,
consent, approval and other communications under this Agreement shall be in writing, and shall be deemed duly given or made at the time and on the date when received by facsimile (provided that the sender of such communication shall orally
confirm receipt thereof by the appropriate parties and send a copy of such communication to the appropriate parties within one (1) Business Day of such facsimile) or 
  

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 when personally delivered as shown on a receipt therefor (which shall include delivery by a nationally recognized
overnight delivery service), to the address for each party set forth below. Any party, by written notice to the other in the manner herein provided, may designate an address different from that set forth below. 
  

			
	If to Buyer:	  	 Wells 1901 Market Business Trust
 c/o Wells Capital, Inc.
 6200 The Corners Parkway, Suite 250
 Norcross, GA 30092
 Attention: Jeff
Gilder
 Telephone No.: 770.243.8445
 Telecopy No.: 770.243.8510

		
	 with a copy to:
	  	 Troutman Sanders, LLP
 600 Peachtree Street NE, Suite 5200
 Atlanta, GA 30308-2216
 Attention: John W. Moore
 Telephone
No.: 404.885.3188
 Telecopy No.: 404.962.6638

		
	If to Seller:	  	 PIC REALTY CORPORATION
 Arbor Circle South, 8 Campus Drive
 Parsippany, New Jersey 07054
 Attention: Allen J. Green
 Telephone
No.: 973.734.1414
 Telecopy No.: 973.734.1472

		
	 with a copy to:
	  	 PIC REALTY CORPORATION
 PAMG-RE Law Department
 c/o PAMG-RE Law Department
 Arbor Circle South, 8 Campus Drive
 Parsippany, New Jersey 07054
 Attention: Law Department (Gregory J. Radke)
 Telephone No.: 973.734.1420
 Telecopy
No.: 973.683.1788

		
	 with a copy to:
	  	 McCarter & English, LLP
 Four Gateway Center
 100 Mulberry Street
 Newark, New Jersey 07102
 Attention:
Susan M. Mello
 Telephone No.: 973.639.6959
 Telecopy No.: 973.624.7070

  

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	If to Prudential:	  	 The Prudential Insurance Company of America
 213 Washington Street, 8th Floor
 Newark, NJ 07102
 Attention: Alan
Fu
 Telephone No.: 973.367.1941
 Telecopy No.: 973.802.8180

		
	 with a copy to:
	  	 McCarter & English, LLP
 Four Gateway Center
 100 Mulberry Street
 Newark, New Jersey 07102
 Attention:
Susan M. Mello
 Telephone No.: 973.639.6959
 Telecopy No.: 973.624.7070

  
 15.10
Counterparts. This Agreement may be executed in counterparts, each of which shall be an original and all of which counterparts taken together shall constitute one and the same agreement. 
  
 15.11 No Recordation. Seller and Buyer each agrees that neither
this Agreement nor any memorandum or notice hereof shall be recorded and Buyer agrees (a) not to file any notice of pendency or other instrument (other than a judgment) against the Property or any portion thereof in connection herewith and (b) to
indemnify Seller against all Liabilities (including reasonable attorneys’ fees, expenses and disbursements) incurred by Seller by reason of the filing by Buyer of such notice of pendency or other instrument. Notwithstanding the foregoing, if
the same is permitted pursuant to applicable Laws, Buyer shall be entitled to record a notice of lis pendens if Buyer is entitled to seek (and is actually seeking) specific performance of this Agreement by Seller in accordance with the terms of
Section 11.2 hereof. 
  
 15.12 Additional Agreements;
Further Assurances. Subject to the terms and conditions herein provided, each of the parties hereto shall execute and deliver such documents as the other party shall reasonably request in order to consummate and make effective the
Transaction; provided, however, that the execution and delivery of such documents by such party shall not result in any additional liability or cost to such party. 
  
 15.13 Construction. The parties acknowledge that each party and its counsel have reviewed and revised this
Agreement and that the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Agreement or any amendment hereof or Exhibit hereto. 

 
 15.14 Consent of Prudential. As holder of legal title to the
LLC Interests, Prudential hereby consents to the transactions contemplated by this Agreement. 
  

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 15.15 Maximum Aggregate Liability. Notwithstanding any provision to the contrary contained
in this Agreement or any documents executed by Seller pursuant hereto or in connection herewith, but subject to this Section 15.15, the maximum aggregate liability of Seller and the Seller Parties, and the maximum aggregate amount which may
be awarded to and collected by Buyer, in connection with the Transaction, the Property, under this Agreement and under any and all documents executed pursuant hereto or in connection herewith (including, without limitation, in connection with the
breach of any of Seller’s Property Warranties for which a claim is timely made by Buyer) shall not exceed Three Million and no/100 Dollars ($3,000,000.00). Notwithstanding the foregoing, the foregoing limitation on liability shall not apply
with respect to a breach of any of Seller’s Entity Warranties or with respect to matters for which Buyer is entitled to indemnification under Section 9.4.5. The provisions of this section shall survive the Closing (and not be merged
therein) or any earlier termination of this Agreement. 
  
 15.16 Time of The Essence. Time is of the essence with respect to this Agreement. 
  
 15.17 Waiver of Jury Trial. EACH PARTY HEREBY WAIVES TRIAL BY JURY IN ANY PROCEEDINGS BROUGHT BY THE OTHER PARTY IN CONNECTION WITH ANY
MATTER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE TRANSACTION, THIS AGREEMENT, THE PROPERTY OR THE RELATIONSHIP OF BUYER AND SELLER HEREUNDER. THE PROVISIONS OF THIS SECTION SHALL SURVIVE THE CLOSING (AND NOT BE MERGED THEREIN) OR ANY EARLIER
TERMINATION OF THIS AGREEMENT. 
  
 15.18 Facsimile
Signatures. Signatures to this Agreement transmitted by telecopy shall be valid and effective to bind the party so signing. Each party agrees to promptly deliver an execution original to this Agreement with its actual signature to the other
party, but a failure to do so shall not affect the enforceability of this Agreement, it being expressly agreed that each party to this Agreement shall be bound by its own telecopied signature and shall accept the telecopied signature of the other
party to this Agreement. 
  
 [Remainder of this page intentionally
left blank.] 
  

 - 50 - 

 IN WITNESS WHEREOF, each party hereto has caused this Agreement to be duly executed on its behalf
on the day and year first above written. 
  

					
	SELLER:	 	 PIC REALTY CORPORATION,
 a Delaware corporation

			
	 	 	By:	  	 /s/    Peter L. Ruggiero

	 	 	 	  	 Name: Peter L. Ruggiero
 Title: Vice President

		
	PRUDENTIAL:	 	 THE PRUDENTIAL INSURANCE COMPANY
 OF AMERICA, a New Jersey corporation

			
	 	 	By:	  	 /s/    Peter L. Ruggiero

	 	 	 	  	 Name: Peter L. Ruggiero
 Title: Vice President

		
	BUYER:	 	 WELLS 1901 MARKET BUSINESS TRUST,
 a Delaware business trust

			
	 	 	By:	  	 /s/    Douglas P. Williams

	 	 	 	  	 Name: Douglas P. Williams
 Title: Trustee

		
	The Company	 	 PRU 1901 MARKET LLC, a Delaware limited
 liability company

			
	 	 	 By:
	  	 The Prudential Insurance Company of
 America, a New Jersey corporation

			
	 	 	By:	  	 /s/    Peter L. Ruggiero

	 	 	 	  	 Name: Peter L. Ruggiero
 Title: Vice President

  
  

 - 51 - 

 The undersigned has executed this Agreement solely to confirm its agreement to (i) hold the Escrow
Deposits in escrow in accordance with the provisions hereof and (ii) comply with the provisions of Article 13 and Section 15.2. 
  
 Deborah S. Goldman, Underwriting Counsel 
 First American Title Insurance Company 
 Two Penn Center Plaza, Suite 1910 
 Philadelphia, Pa. 19102 
 (215)
568-9524 
 dgoldman@firstam.com 
  

			
	
	 ESCROW AGENT:
  
 FIRST AMERICAN TITLE INSURANCE COMPANY

		
	By:	 	 /s/    Deborah S. Goldman

	 	 	

	 	 	  
 Name: Deborah S.
Goldman

	 	 	  
 Title:

		
	 Date:
	 	 December 18, 2003

  
  

 - 52 -

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