Document:

Exhibit 10.50

 

AGREEMENT OF
PURCHASE AND SALE

 

between

 

Washington Commons
Phase II Limited Partnership, an Illinois limited partnership,

as SELLER,

 

and

 

Alliance
Commercial Partners, LLC,

 

a Colorado limited
liability company, as BUYER

 

Dated as of :  December 26, 2006

 

Washington Commons
Phase II

 

 

TABLE OF
CONTENTS

 

	
   

  	
   

  	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE I PURCHASE AND SALE OF PROPERTY

  	
   

  	
  1

  
	
   

  	
   

  	
   

  
	
  Section 1.1

  	
   

  	
  Sale

  	
   

  	
  1

  
	
  Section 1.2

  	
   

  	
  Purchase Price.

  	
   

  	
  2

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE II CONDITIONS

  	
   

  	
  3

  
	
   

  	
   

  	
   

  
	
  Section 2.1

  	
   

  	
  Buyer’s Conditions Precedent.

  	
   

  	
  3

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE III BUYER’S EXAMINATION

  	
   

  	
  4

  
	
   

  	
   

  	
   

  
	
  Section 3.1

  	
   

  	
  Representations and Warranties of Seller.

  	
   

  	
  4

  
	
  Section 3.2

  	
   

  	
  No Liability for Exception Matters.

  	
   

  	
  6

  
	
  Section 3.3

  	
   

  	
  Survival of Representations and Warranties of Sale.

  	
   

  	
  6

  
	
  Section 3.4

  	
   

  	
  Seller’s Knowledge.

  	
   

  	
  7

  
	
  Section 3.5

  	
   

  	
  Representations and Warranties of Buyer.

  	
   

  	
  7

  
	
  Section 3.6

  	
   

  	
  Buyer’s Independent Investigation.

  	
   

  	
  8

  
	
  Section 3.7

  	
   

  	
  Release.

  	
   

  	
  10

  
	
  Section 3.8

  	
   

  	
  Survival.

  	
   

  	
  10

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE IV TITLE

  	
   

  	
  10

  
	
   

  	
   

  	
   

  
	
  Section 4.1

  	
   

  	
  Conditions of Title.

  	
   

  	
  10

  
	
  Section 4.2

  	
   

  	
  Evidence of Title.

  	
   

  	
  12

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE V RISK OF LOSS AND INSURANCE PROCEEDS

  	
   

  	
  13

  
	
   

  	
   

  	
   

  
	
  Section 5.1

  	
   

  	
  Minor Loss.

  	
   

  	
  13

  
	
  Section 5.2

  	
   

  	
  Major Loss.

  	
   

  	
  13

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE VI BROKERS AND EXPENSES

  	
   

  	
  14

  
	
   

  	
   

  	
   

  
	
  Section 6.1

  	
   

  	
  Brokers.

  	
   

  	
  14

  
	
  Section 6.2

  	
   

  	
  Expenses.

  	
   

  	
  15

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE VII LEASES AND OTHER AGREEMENTS

  	
   

  	
  15

  
	
   

  	
   

  	
   

  
	
  Section 7.1

  	
   

  	
  Buyer’s Approval of New Leases and Agreements
  Affecting the Property.

  	
   

  	
  15

  
	
  Section 7.2

  	
   

  	
  Tenant Improvement Costs, Leasing Commissions and
  Concessions.

  	
   

  	
  15

  
	
  Section 7.3

  	
   

  	
  Tenant Notices.

  	
   

  	
  16

  
	
  Section 7.4

  	
   

  	
  Maintenance of Improvements and Operation of
  Property; Removal of Tangible Personal Property.

  	
   

  	
  16

  

 

i

 

	
   

  	
   

  	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 7.5

  	
   

  	
  New Management Contract.

  	
   

  	
  16

  
	
  Section 7.6

  	
   

  	
  Service Contracts.

  	
   

  	
  16

  
	
  Section 7.7

  	
   

  	
  Exit Corridor

  	
   

  	
  16

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE VIII CLOSING AND ESCROW

  	
   

  	
  17

  
	
   

  	
   

  	
   

  
	
  Section 8.1

  	
   

  	
  Intentionally Omitted.

  	
   

  	
  17

  
	
  Section 8.2

  	
   

  	
  Closing.

  	
   

  	
  17

  
	
  Section 8.3

  	
   

  	
  Deposit of Documents.

  	
   

  	
  17

  
	
  Section 8.4

  	
   

  	
  Estoppel Certificates.

  	
   

  	
  18

  
	
  Section 8.5

  	
   

  	
  Prorations.

  	
   

  	
  19

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE IX MISCELLANEOUS

  	
   

  	
  22

  
	
   

  	
   

  	
   

  
	
  Section 9.1

  	
   

  	
  Notices.

  	
   

  	
  22

  
	
  Section 9.2

  	
   

  	
  Entire Agreement.

  	
   

  	
  23

  
	
  Section 9.3

  	
   

  	
  Entry and Indemnity.

  	
   

  	
  23

  
	
  Section 9.4

  	
   

  	
  Time.

  	
   

  	
  24

  
	
  Section 9.5

  	
   

  	
  Attorneys’ Fees.

  	
   

  	
  24

  
	
  Section 9.6

  	
   

  	
  Assignment.

  	
   

  	
  24

  
	
  Section 9.7

  	
   

  	
  Counterparts.

  	
   

  	
  25

  
	
  Section 9.8

  	
   

  	
  Governing Law.

  	
   

  	
  25

  
	
  Section 9.9

  	
   

  	
  Confidentiality and Return of Documents.

  	
   

  	
  25

  
	
  Section 9.10

  	
   

  	
  Interpretation of Agreement.

  	
   

  	
  26

  
	
  Section 9.11

  	
   

  	
  Limited Liability.

  	
   

  	
  26

  
	
  Section 9.12

  	
   

  	
  Amendments.

  	
   

  	
  26

  
	
  Section 9.13

  	
   

  	
  No Recording.

  	
   

  	
  26

  
	
  Section 9.14

  	
   

  	
  Drafts Not an Offer to Enter into a Legally Binding
  Contract.

  	
   

  	
  26

  
	
  Section 9.15

  	
   

  	
  Intentionally Omitted.

  	
   

  	
  26

  
	
  Section 9.16

  	
   

  	
  No Partnership.

  	
   

  	
  26

  
	
  Section 9.17

  	
   

  	
  No Third Party Beneficiary.

  	
   

  	
  27

  
	
  Section 9.18

  	
   

  	
  Buyer’s Condition Precedent.

  	
   

  	
  27

  
	
  Section 9.19

  	
   

  	
  Limitation on Liability.

  	
   

  	
  27

  
	
  Section 9.20

  	
   

  	
  Illinois Bulk Sales.

  	
   

  	
  28

  
						

 

ii

 

	
   

  	
   

  	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 9.21

  	
   

  	
  Calculation of Time Periods.

  	
   

  	
  28

  

 

iii

Exhibits

 

Exhibit A                Real Property Description

 

Exhibit B                Strict Joint Order Escrow Trust
Instructions

 

Exhibit C                List of Tenant Leases

 

Exhibit D                Deed

 

Exhibit E                 Bill of Sale

 

Exhibit F                 Assignment of Leases

 

Exhibit G                Assignment of Warranties and Other Intangible
Property

 

Exhibit H                Estoppel Certificate

 

Schedules

 

Schedule 1.1(c)     Tangible Personal Property

 

Schedule 3.1          Disclosure Items

 

Schedule 4.1(b)     Objections

 

Schedule 7.7          Exit Corridor

 

 

AGREEMENT OF
PURCHASE AND SALE

 

This Agreement, dated as of December 26, 2006, is
between Washington Commons Phase II Limited Partnership, an Illinois limited
partnership (“Seller”), and the undersigned
buyer (“Buyer”).

 

ARTICLE I

PURCHASE AND SALE OF PROPERTY

 

Section 1.1            Sale.

 

Seller agrees to sell to Buyer, and Buyer agrees to
purchase from Seller, subject to the terms, covenants and conditions set forth
herein, all of Seller’s right, title and interest in and to the following
property (collectively, the “Property”):

 

(a)           Real Property.
That certain real property commonly known as “Washington Commons I” and located
at 600-700 Diehl Road, in the City of Naperville, State of Illinois, as more
particularly described in Exhibit A
attached hereto and made a part hereof (the “Land”),
together with (1) all improvements located thereon (the “Improvements”), (2) all rights, benefits,
privileges, easements, tenements, hereditaments, rights-of-way and other
appurtenances thereon or in any way appertaining thereto, including all mineral
rights, development rights, air and water rights, and (3) all strips and gores
and any land lying in the bed of any street, road or alley, open, proposed or
vacated, adjoining such Land (collectively, the “Real Property”);

 

(b)           Leases. All
of the landlord’s interest in and to all of the Leases (as defined in Section
2.1(b) below) of the Real Property, including Leases entered into after the
date of this Agreement as permitted by this Agreement;

 

(c)           Tangible
Personal Property. All of the equipment, machinery, furniture, furnishings,
supplies and other tangible personal property, if any, owned by Seller and now
or hereafter located on, and used exclusively in, the operation, ownership or
maintenance of the Real Property (collectively, the “Tangible Personal Property”), but specifically excluding from
the Tangible Personal Property (1) any items of personal property owned by
tenants of the Property, (2) any items of personal property in Seller’s
property management office, if any, located on the Real Property, (3) any items
of personal property owned by third parties and leased to Seller, and (4)
proprietary computer software, systems and equipment and related licenses used
in connection with the operation or management of the Property. A complete list
of the Tangible Personal Property is attached hereto as Schedule 1.1(c); and

 

(d)           Intangible
Personal Property. To the extent assignable at no cost to Seller, all
intangible personal property, if any, owned by Seller and related to the Real
Property and the Improvements, including, without limitation: Seller’s rights
to the name “Washington Commons,” any other trade names and trademarks
associated with the Real Property and the Improvements, any plans and
specifications and other architectural and engineering drawings for the
Improvements, any telephone number associated with the Improvements, any
warranties and other contract rights related to the Property (but only to the
extent Seller’s obligations thereunder

 

 

are expressly
assumed by Buyer pursuant to the Assignment of Intangible Property as defined
in Section 8.3(a)(4) below; and any governmental permits, approvals and
licenses (including any pending applications) (collectively, the “Intangible Personal Property”). If the
assignment of any Intangible Personal Property shall require Seller to incur an
out-of-pocket cost, Seller shall be obligated to assign such Intangible
Personal Property only if Buyer reimburses Seller for such cost at Closing.

 

Section 1.2            Purchase Price.

 

(a)           The purchase price
of the Property is Eight Million Five Hundred Fifty Six Thousand Five Hundred
and no/100 Dollars ($8,556,500.00) (the “Purchase
Price”).

 

(b)           The Purchase Price
shall be paid as follows:

 

(1)           On or before
December 28, 2006, Buyer shall deposit in escrow with the Chicago Title and
Trust Company (the “Title Company”) the amount of Two Hundred Seven Thousand
and no/100 Dollars ($207,000.00) (the “Deposit”)
in cash or other immediately available funds. The Deposit shall be held by the
Title Company pursuant to the terms of the Strict Joint Order Escrow Trust Instructions
in the form attached hereto as Exhibit B.

 

The Deposit shall be held in an interest bearing
account and all interest thereon, less investment fees, if any, shall be deemed
a part of the Deposit. If the sale of the Property as contemplated hereunder is
consummated, then the Deposit shall be paid to Seller at the Closing (as
hereinafter defined) and credited against the Purchase Price. IF THE SALE OF THE PROPERTY IS NOT CONSUMMATED DUE TO SELLER’S DEFAULT
HEREUNDER, THEN BUYER MAY ELECT, AS BUYER’S SOLE AND EXCLUSIVE REMEDY, EITHER
TO: (1) TERMINATE THIS AGREEMENT AND RECEIVE A REFUND OF THE DEPOSIT AND TO
RECOVER THE RECOVERY LIMIT (AS HEREINAFTER DEFINED), IN WHICH EVENT NEITHER
PARTY SHALL HAVE ANY FURTHER RIGHTS OR OBLIGATIONS HEREUNDER EXCEPT AS PROVIDED
IN SECTIONS 6.1, 9.3 AND 9.9 BELOW, OR (2) ENFORCE SPECIFIC PERFORMANCE OF THIS
AGREEMENT. BUYER SHALL NOT HAVE ANY OTHER RIGHTS OR REMEDIES HEREUNDER AS A
RESULT OF ANY DEFAULT BY SELLER PRIOR TO CLOSING, AND BUYER HEREBY WAIVES ANY
OTHER SUCH REMEDY AS A RESULT OF A DEFAULT HEREUNDER BY SELLER. IF THE SALE IS
NOT CONSUMMATED DUE TO ANY DEFAULT BY BUYER HEREUNDER, THEN SELLER SHALL RETAIN
THE DEPOSIT AS LIQUIDATED DAMAGES. SELLER HEREBY WAIVES ANY OTHER REMEDY,
INCLUDING ANY RIGHT TO RECOVER ANY OTHER DAMAGES FROM BUYER. THE PARTIES HAVE
AGREED THAT SELLER’S ACTUAL DAMAGES, IN THE EVENT OF A FAILURE TO CONSUMMATE
THIS SALE DUE TO BUYER’S DEFAULT PRIOR TO CLOSING, WOULD BE EXTREMELY DIFFICULT
OR IMPRACTICABLE TO DETERMINE. AFTER NEGOTIATION, THE PARTIES HAVE AGREED THAT,
CONSIDERING ALL THE CIRCUMSTANCES EXISTING ON THE DATE OF THIS AGREEMENT, THE
AMOUNT OF THE DEPOSIT IS A REASONABLE ESTIMATE OF THE DAMAGES THAT SELLER WOULD
INCUR IN SUCH EVENT. BY PLACING THEIR INITIALS BELOW, EACH PARTY SPECIFICALLY
CONFIRMS THE ACCURACY OF THE STATEMENTS MADE 

 

2

 

ABOVE AND THE FACT THAT EACH
PARTY WAS REPRESENTED BY COUNSEL WHO EXPLAINED, AT THE TIME THIS AGREEMENT WAS
MADE, THE CONSEQUENCES OF THIS LIQUIDATED DAMAGES PROVISION. THE FOREGOING IS
NOT INTENDED TO LIMIT BUYER’S OBLIGATIONS UNDER SECTIONS 6.1, 9.3 AND 9.9.

 

	
  INITIALS:

  	
   

  	
  SELLER
  [ILLEGIBLE]

  	
   

  	
  BUYER DR

  

 

IF THE SALE OF THE PROPERTY IS NOT CONSUMMATED AND
THE FAILURE TO CONSUMMATE IS NOT DUE TO EITHER SELLER’S DEFAULT OR BUYER’S
DEFAULT, THIS AGREEMENT SHALL BE DEEMED TERMINATED AND BUYER SHALL RECEIVE A
REFUND OF THE DEPOSIT, IN WHICH EVENT NEITHER PARTY SHALL HAVE ANY FURTHER
RIGHTS OR OBLIGATIONS HEREUNDER EXCEPT AS PROVIDED IN SECTIONS 6.1, 9.3 AND 9.9
BELOW.

 

(2)           The balance of the
Purchase Price, which is Eight Million Three Hundred Forty Nine Thousand Five
Hundred and no/100 Dollars ($8,349,500.00) (plus or minus the prorations
pursuant to Section 8.5 hereof) shall be paid to Seller in cash or other immediately
available funds at the consummation of the purchase and sale contemplated
hereunder (the “Closing”).

 

ARTICLE II

DUE DILIGENCE MATERIALS

 

Section 2.1            Due Diligence
Materials.

 

Subject to the provisions of Section 9.3 hereof,
Seller has provided Buyer and its consultants and other agents and
representatives with access to the Property to perform Buyer’s inspections and
review and determine the present condition of the Property. Seller has
delivered or made available to Buyer, copies of all documents, reports,
studies, surveys and other materials related to the Property in Seller’s
possession (the “Due Diligence Materials”), except
that the Due Diligence
Materials expressly excludes (i) any reports, presentations, summaries,
projections, budgets and the like prepared for any of Seller’s boards,
committees, partners, financiers or investors in connection with its
consideration of the acquisition of the Real Property, construction of the
Improvements, financing of the Property or sale of the Property, (ii) any
proposals, letters of intent, draft contracts or the like prepared by or for
other prospective purchasers of the Property or any part thereof, (iii) Seller’s
internal memoranda, attorney-client privileged materials, internal appraisals;
and (iv) any information which is the subject of a confidentiality agreement
between Seller and a third party (the items described in clauses (i), (ii)
(iii) and (iv) being collectively referred to as the “Confidential
Information”).

 

3

 

ARTICLE III

REPRESENTATIONS AND WARRANTIES

 

Section 3.1            Representations and
Warranties of Seller.

 

Subject to the disclosures contained in Schedule 3.1 attached hereto and
made a part hereof (the “Disclosure Items”),
Seller hereby makes the following representations and warranties with respect
to the Property.

 

(a)           Seller has not (i)
made a general assignment for the benefit of creditors, (ii) filed any
voluntary petition in bankruptcy or suffered the filing of any involuntary
petition by Seller’s creditors, (iii) suffered the appointment of a receiver to
take possession of all or any part of the Property or all, or substantially
all, of Seller’s assets, (iv) suffered the attachment or other judicial seizure
of all or any part of the Property or all, or substantially all, of Seller’s
assets, (v) admitted in writing its inability to pay its debts as they come
due, or (vi) made an offer of settlement, extension or composition to its
creditors generally.

 

(b)           Seller is not a “foreign
person” as defined in Section 1445 of the Internal Revenue Code of 1986, as
amended (the “Code”) and any
related regulations.

 

(c)           This Agreement (i)
has been, and all documents executed by Seller which are to be delivered to
Buyer at Closing will be, duly authorized, executed and delivered by Seller,
and (ii) does not and such other documents will not violate any provision of
any agreement or judicial order to which Seller is a party or to which Seller
or the Property is subject. This Agreement constitutes, and all documents
executed by Seller which are to be delivered to Buyer at Closing will
constitute, the valid and binding agreement of Seller, enforceable in
accordance with its terms, except as such enforceability is limited by
bankruptcy, insolvency and other similar laws affecting the enforcement of
creditors’ rights generally.

 

(d)           Seller has the
power and authority to enter into this Agreement and all documents executed by
Seller which are to be delivered to Buyer at Closing and to perform its
obligations hereunder and thereunder.

 

(e)           The only tenant
leases, guaranties thereof and any other occupancy agreements, and all
amendments and modifications thereof affecting the Property (collectively the “Leases”) in force for the Property are set
forth in a tenant list attached hereto as Exhibit
C and made a part hereof. Seller has not sent any written notice of
any default with respect to such Leases or by any tenant under such Leases,
which has not been cured. To the best of Seller’s knowledge, Seller has not
received any written notice of any default by Seller with respect to such
Leases which has not been cured. To the best of Seller’s knowledge, the copies
of the Leases that Seller has provided, or will provide, to Buyer are true,
correct and complete copies of such Leases.

 

(f)            Intentionally
Omitted.

 

(g)           To the best of
Seller’s knowledge, there is no litigation or governmental proceeding
(including, but not limited to any condemnation proceeding) or proceeding to
change 

 

4

 

the zoning
classification of the Property or to include the Property in any special
governmental district or to exclude the Property from any special governmental
district in which it is presently located) pending or threatened with respect
to the Property, or with respect to Seller which impairs Seller’s ability to
perform its obligations under this Agreement, except for any personal injury or
property damage action for which there is adequate insurance coverage. Seller
has not commenced any such litigation or governmental proceeding still pending.

 

(h)           To the best of
Seller’s knowledge, Seller has received no written notice from any governmental
authority (including, without limitation, regulatory authorities) or other
person or entity of any violation of any law applicable to the Property
(including, without limitation, any Environmental Law as defined in Section
3.6(a)(2) below) that has not been corrected.

 

(i)            To the best of
Seller’s knowledge, all of the Due Diligence Materials delivered or made
available by Seller to Buyer in connection with the Property are true and
complete copies of such items in Seller’s possession which are used by Seller
in the operation of the Property.

 

(j)            Seller has been
duly organized, validly exists, and is in good standing in the jurisdiction in
which it was formed, and, to the extent required by law, is qualified to do
business in the state in which the Real Property is located.

 

(k)           Neither Seller nor
any person holding a direct or indirect ownership interest in Seller is
described in, covered by or specially designated pursuant to, or affiliated
with any person described in, covered by or specially designated pursuant to,
any Anti-Terrorism Law or any list issued by any department or agency of the
United States of America in connection with any Anti-Terrorism Law. For
purposes hereof, Anti-Terrorism Law” shall mean Executive Order 13224, as
amended; the International Emergency Economic Powers Act, 50 U.S.C. Sections
1701-06 et seq.; the Iraqi Sanctions Act, Pub.L. 101-513, 104 Stat. 2047-55;
the United Nations Participation Act, 22 U.S.C. Section 287c; the Antiterrorism
and Effective Death Penalty Act; the International Security and Development
Cooperation Act, 22 U.S.C. Section 2349 aa-9; the Terrorism Sanctions
Regulations, 31 C.F.R. Part 595; the Terrorism List Governments Sanctions
Regulations, 31 C.F.R. Part 596; and the Foreign Terrorist Organizations
Sanctions Regulations, 31 C.F.R. Part 597.

 

(l)            Seller owns, or at
Closing will own, the interest in the Leases and Intangible Personal Property
to be assigned to Buyer at Closing free and clear of any claims to the Seller’s
ownership interest in said Leases and Intangible Personal Property.

 

Each of the representations and warranties of Seller
contained in this Section 3.1:  (1) shall
be true in all material respects as of the date of Closing, subject in each
case to (A) any Exception Matters (as defined below), (B) the Disclosure Items,
and (C) other matters expressly permitted in this Agreement or otherwise specifically
approved by Buyer in writing; and (2) shall survive the Closing as provided in
Section 3.3 below.

 

5

 

Section 3.2            No Liability for
Exception Matters.

 

As used herein, the term “Exception
Matter” shall refer to a matter which would make a representation or
warranty of Seller contained in this Agreement untrue or incorrect and which is
specifically disclosed to Buyer in writing identified as an Exception Matter or
is actually discovered by Buyer before the Closing, including, without
limitation, matters disclosed in any tenant estoppel certificate or from
interviews with tenants, property managers or any other person. If Buyer first
obtains knowledge of any material Exception Matter prior to Closing, Buyer’s
sole remedy shall be to terminate this Agreement on the basis thereof, by
written notice to Seller within five (5) business days following Buyer’s
discovery of such Exception Matter or the Closing, which ever occurs first, in
which event the Deposit shall be returned to Buyer, unless within five (5)
business days after receipt of such notice or the Closing, whichever first
occurs, Seller notifies Buyer in writing that it elects to cure or remedy such
Exception Matter. Seller shall be entitled to extend the Closing Date (as
defined in Section 8.2 below) for up to ten (10) business days in order to cure
or remedy any Exception Matter. Buyer’s failure to give notice within five (5)
business days after it has obtained knowledge of a material Exception Matter
shall be deemed a waiver by Buyer of such Exception Matter. Seller shall have
no obligation to cure or remedy any Exception Matter, unless Seller has
notified Buyer of Seller’s election to cure or remedy any Exception Matter
(except as specifically provided in Section 4.1(c) hereof). Subject to Buyer’s
right to terminate this Agreement as set forth above, if Seller elects not to
cure any Exception Matter, Seller shall have no liability whatsoever to Buyer
with respect to any Exception Matters, except that if Seller intentionally, or
with gross negligence, refused or failed to deliver, or make available to
Buyer, Due Diligence Material which would have disclosed an Exception Matter
or, if by reason of Seller’s act or omission after the date hereof, a warranty
or representation which is true as of the date hereof, becomes untrue, Buyer
shall have the right, if it terminates this Agreement, to recover from Seller
all of the reasonable, verifiable, third party out of pocket costs incurred by
Buyer in negotiating and entering into this Agreement and investigating the
Property, not to exceed $50,000 in the aggregate (the “Recovery
Limit”). Upon any termination of this Agreement, neither party shall
have any further rights or obligations hereunder, except as provided in this
Section 3.2 or in Sections 6.1, 9.3 and 9.9 below. If Buyer obtains actual
knowledge of any Exception Matter not disclosed by Seller to Buyer in writing
before the Closing, but nonetheless elects to proceed with the acquisition of
the Property, Seller shall have no liability with respect to such Exception
Matter, notwithstanding any contrary provision, covenant, representation or
warranty contained in this Agreement or in any Other Documents (as defined in
Section 9.19 below).

 

Section 3.3            Survival of
Representations and Warranties of Sale.

 

The representations and warranties of Seller contained
herein or in any Other Documents shall survive for a period of twelve (12)
months after the Closing. Any claim which Buyer may have at any time against
Seller for a breach of any such representation or warranty, whether such breach
is known or unknown, which is not specifically asserted by written notice to
Seller within such twelve (12) month period, shall not be valid or effective,
and Seller shall have no liability with respect thereto.

 

6

 

Section 3.4            Seller’s Knowledge.

 

For purposes of this Agreement and any document
delivered at Closing, whenever the phrase “to the best of Seller’s
knowledge” or the “knowledge” of
Seller or words of similar import are used, they shall be deemed to mean and
are limited to the current actual knowledge only of Paul O’Connor, at the times
indicated only, and not any implied, imputed or constructive knowledge of such
individual(s) or of Seller or any Seller Related Parties (as defined in Section
3.7 below), and without any independent investigation or inquiry having been
made or any implied duty to investigate, make any inquiries or review the Due
Diligence Materials. Seller represents and warrants to Buyer that Paul O’Connor
is Seller’s employee with primary responsibility for operations of the Property
and the person with the greatest knowledge of the matters stated in Seller’s
representations and warranties set forth in Section 3.1 above. Furthermore, it
is understood and agreed that such individual(s) shall have no personal
liability for the untruth or incorrectness of any representation or warranty of
Seller.

 

Section 3.5            Representations and
Warranties of Buyer.

 

Buyer represents and warrants to Seller as follows:

 

(a)           This Agreement and
all documents executed by Buyer which are to be delivered to Seller at Closing
do not and at the time of Closing will not violate any provision of any
agreement or judicial order to which Buyer is a party or to which Buyer is
subject.

 

(b)           Buyer has not (i)
made a general assignment for the benefit of creditors, (ii) filed any
voluntary petition in bankruptcy or suffered the filing of any involuntary
petition by Buyer’s creditors, (iii) suffered the appointment of a receiver to
take possession of all, or substantially all, of Buyer’s assets, (iv) suffered
the attachment or other judicial seizure of all, or substantially all, of Buyer’s
assets, (v) admitted in writing its inability to pay its debts as they come
due, or (vi) made an offer of settlement, extension or composition to its
creditors generally.

 

(c)           Buyer has been duly
organized, validly exists and is in good standing in the state in which it was
formed, and is qualified to do business in the state in which the Real Property
is located to the extent such qualification is required by the laws of such
state. This Agreement has been, and all documents executed by Buyer which are
to be delivered to Seller at Closing will be, duly authorized, executed and
delivered by Buyer. This Agreement constitutes, and all documents executed by
Buyer which are to be delivered to Seller at Closing will constitute, the valid
and binding agreement of Buyer, enforceable in accordance with its terms,
except as such enforceability is limited by bankruptcy, insolvency and other
similar laws affecting the enforcement of creditors’ rights generally.

 

(d)           Neither Buyer nor
any person holding a direct or indirect ownership interest in Buyer is
described in, covered by or specially designated pursuant to, or affiliated
with any person described in, covered by or specially designated pursuant to,
any Anti-Terrorism Law or any list issued by any department or agency of the
United States of America in connection with any Anti-Terrorism Law.

 

Each of the representations and warranties of Buyer
contained in this Section shall be deemed remade by Buyer as of the Closing and
shall survive the Closing. The representations 

 

7

 

and warranties of Buyer
contained in this Agreement shall survive for a period of twelve (12) months
after the Closing. Any claim which Seller may have at any time against Buyer
for a breach of any such representation or warranty, whether such breach is known
or unknown, which is not specifically asserted by written notice to Buyer
within such twelve (12) month period, shall not be valid or effective, and
Buyer shall have no liability to Seller with respect thereto.

 

Section 3.6            Buyer’s Independent
Investigation.

 

(a)           Buyer acknowledges
and agrees that it has been given a full opportunity to inspect and investigate
each and every aspect of the Property, either independently or through agents
of Buyer’s choosing, including, without limitation:

 

(1)           All matters
relating to title and survey, together with all governmental and other legal
requirements such as taxes, assessments, zoning, use permit requirements and
building codes.

 

(2)           The physical
condition and aspects of the Property, including, without limitation, the
interior, the exterior, the square footage within the improvements on the Real
Property and within each tenant space therein, the structure, seismic aspects
of the Property, the foundation, roof, paving, parking facilities, utilities,
and all other physical and functional aspects of the Property and including the
opportunity to examine the physical condition of the Property for the presence
or absence of Hazardous Materials, as defined below. For purposes of this
Agreement, “Hazardous Materials”
shall mean inflammable explosives, radioactive materials, asbestos,
asbestos–containing materials, polychlorinated biphenyls, lead, lead-based
paint, radon, under and/or above ground tanks, hazardous materials, hazardous
wastes, hazardous substances, oil, or related materials, which are listed or
regulated in the Comprehensive Environmental Response, Compensation and
Liability Act of 1980, as amended (42 U.S.C. Sections 6901, et seq.), the
Resources Conservation and Recovery Act of 1976 (42 U.S.C. Section 6901, et
seq.), the Clean Water Act (33 U.S.C. Section 1251, et seq.), the Safe Drinking
Water Act (14 U.S.C. Section 1401, et seq.), the Hazardous Materials
Transportation Act (49 U.S.C. Section 1801, et seq.), and the Toxic Substance
Control Act (15 U.S.C. Section 2601, et seq.) 
(collectively, “Environmental Laws”).

 

(3)           Any easements
and/or access rights affecting the Property.

 

(4)           The Leases,
including, without limitation, the ability of the tenants to pay the rent and
the economic viability of the tenants.

 

(5)           Intentionally
omitted.

 

(6)           All other matters
of material significance affecting the Property.

 

(b)           Except as expressly
stated herein, Seller makes no representation or warranty as to the truth,
accuracy or completeness of any materials, data or information delivered by
Seller to Buyer in connection with the transaction contemplated hereby. Buyer
acknowledges and agrees that all materials, data and information delivered by
Seller to Buyer in connection with the transaction contemplated hereby are provided
to Buyer as a convenience only and that any reliance on or use of such
materials, data or information by Buyer shall be at the sole risk of 

 

8

 

Buyer, except
as otherwise expressly stated herein. Without limiting the generality of the
foregoing provisions, Buyer acknowledges and agrees that (a) any environmental
or other report with respect to the Property which is delivered by Seller to
Buyer shall be for general informational purposes only, (b) Buyer shall not
have any right to rely on any such report delivered by Seller to Buyer, but
rather will rely on its own inspections and investigations of the Property and
any reports commissioned by Buyer with respect thereto, and (c) neither Seller,
any affiliate of Seller nor the person or entity which prepared any such report
delivered by Seller to Buyer shall have any liability to Buyer for any
inaccuracy in or omission from any such report.

 

(c)           EXCEPT AS EXPRESSLY
SET FORTH IN SECTION 3.1 ABOVE AND ELSEWHERE IN THIS AGREEMENT AND THE
DOCUMENTS DELIVERED BY SELLER TO BUYER AT CLOSING, BUYER SPECIFICALLY
ACKNOWLEDGES AND AGREES THAT SELLER IS SELLING AND BUYER IS PURCHASING THE
PROPERTY ON AN “AS IS WITH ALL FAULTS” BASIS AND THAT BUYER IS NOT RELYING ON
ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND WHATSOEVER, EXPRESS OR IMPLIED,
FROM SELLER, ANY SELLER RELATED PARTIES, OR THEIR AGENTS OR BROKERS, OR ANY
OTHER PERSON ACTING OR PURPORTING TO ACT ON BEHALF OF SELLER, AS TO ANY MATTERS
CONCERNING THE PROPERTY, INCLUDING WITHOUT LIMITATION:  (i) the quality, nature, adequacy and
physical condition and aspects of the Property, including, but not limited to,
the structural elements, seismic aspects of the Property, foundation, roof,
appurtenances, access, landscaping, parking facilities and the electrical,
mechanical, HVAC, plumbing, sewage, and utility systems, facilities and
appliances, the square footage within the improvements on the Real Property and
within each tenant space therein, (ii) the quality, nature, adequacy, and
physical condition of soils, geology and any groundwater, (iii) the existence,
quality, nature, adequacy and physical condition of utilities serving the
Property, (iv) the development potential of the Property, and the Property’s
use, habitability, merchantability, or fitness, suitability, value or adequacy
of the Property for any particular purpose, (v) the zoning or other legal
status of the Property or any other public or private restrictions on use of
the Property, (vi) the compliance of the Property or its operation with any
applicable codes, laws, regulations, statutes, ordinances, covenants,
conditions and restrictions of any governmental or quasi-governmental entity or
of any other person or entity, (vii) the presence of Hazardous Materials on,
under or about the Property, (viii) the quality of any labor and materials used
in any improvements on the Real Property, (ix) the condition of title to the
Property, (x) the Leases, or other documents or agreements affecting the
Property, or any information contained in any rent roll furnished to Buyer for
the Property, (xi) the value, economics of the operation or income potential of
the Property, or (x) any other fact or condition which may affect the Property,
including without limitation, the physical condition, value, economics of
operation or income potential of the Property. In addition, Seller shall have
no legal obligation to apprise Buyer regarding any event or other matter
involving the Property which occurs after the Effective Date, unless and until
an event or other matter which would cause Seller to be unable to remake any of
its representations or warranties contained in this Agreement occurs. Notwithstanding
the foregoing, Seller agrees to deliver subsequent Due Diligence Materials (if any)
to Buyer as such Due Diligence Materials come into Seller’s possession.

 

9

 

Section 3.7            Release.

 

Without
limiting the above, and subject to the representations and warranties of Seller
contained in Section 3.1 hereof and elsewhere in this Agreement and the
documents delivered by Seller to Buyer at Closing. Buyer on behalf of itself
and its successors and assigns waives its right to recover from, and forever
releases and discharges, Seller, Seller’s affiliates, Seller’s investment
advisor, the partners, trustees, beneficiaries, shareholders, members,
managers, directors, officers, employees and agents and representatives of each
of them, and their respective heirs, successors, personal representatives and assigns
(collectively, the “Seller Related Parties”),
from any and all demands, claims, legal or administrative proceedings, losses,
liabilities, damages, penalties, fines, liens, judgments, costs or expenses
whatsoever (including, without limitation, court costs and attorneys’ fees and
disbursements), whether direct or indirect, known or unknown, foreseen or
unforeseen, that may arise on account of or in any way be connected with (i)
the physical condition of the Property including, without limitation, all
structural and seismic elements, all mechanical, electrical, plumbing, sewage,
heating, ventilating, air conditioning and other systems, the environmental
condition of the Property and the presence of Hazardous Materials on, under or
about the Property, or (ii) any law or regulation applicable to the Property,
including, without limitation, any Environmental Law and any other federal,
state or local law.

 

Section 3.8            Survival.

 

The provisions of this Article III shall survive the
Closing subject to the limitations and qualifications contained in such
provisions and in Sections 9.11 and 9.19 hereof.

 

ARTICLE IV

TITLE

 

Section 4.1            Conditions of Title.

 

(a)           Seller has
delivered to Buyer a preliminary title report or commitment (the “Title Report”) from the Title Company,
together with copies of all underlying documents relating to title exceptions
referred to therein. Seller has previously furnished to Buyer any existing
survey of the Property in Seller’s possession. Buyer has ordered a plat or
survey of the Property or an update thereto from a duly licensed surveyor (the “Survey”). Buyer shall provide Seller with a
copy of the Survey, which shall be certified to the Title Company and Buyer. Buyer
shall pay the entire cost of the Survey. If Closing does not occur, and Seller
is not in default hereunder, Buyer shall, if Seller so requests, assign,
without warranty or recourse, to Seller all contract rights Buyer has with the
surveyor and Seller shall reimburse Buyer for the cost of the Survey.

 

(b)           Buyer has heretofore
furnished Seller with a written statement of objections, if any, to the title
to the Property, including, without limitation, any objections to any matter
shown on the Survey (collectively, “Objections”)
as set forth in Schedule 4.1(b) hereof. In the event the Title Company amends
or updates the Title Report after the Title Review Date (each, a “Title Report Update”), Buyer shall furnish
Seller with a written statement of 

 

10

 

Objections to
any matter first raised in a Title Report Update within five (5) business days
after its receipt of such Title Report Update (each, a “Title Update Review Period”). Should Buyer
fail to notify Seller in writing of any Objections first disclosed in a Title
Report Update prior to the Title Update Review Period,  Buyer shall be deemed to have approved such
matters which shall be considered to be “Conditions
of Title” as defined in Section 4.1(e) below.

 

(c)           Seller shall have
the right, but not the obligation, except as provided below in this Section
4.1(c), to elect to cure any such matter by giving written notice to Buyer (“Seller’s Response”), within five (5)
business days after the date hereof (“Seller’s
Response Period”), and may extend the Closing Date for up to ten (10)
business days to allow such cure. If Seller does not give any Seller’s
Response, Seller shall be deemed to have elected not to cure any such matters. Notwithstanding
the foregoing, Seller shall in any event be obligated to cure all matters or
items (i) that are mortgage or deed of trust liens or security interests
against the Property, in each case granted by Seller or prior owners of the
Property (and not tenants of the Property or other third parties), (ii) real
estate tax liens, other than liens for taxes and assessments not yet
delinquent, (iii) that have been voluntarily placed or permitted against the
Property by Seller (and not tenants of the Property or other third parties)
after the date of this Agreement and (iv) that are mechanic’s, materialman’s or
similar liens (unless resulting from any act or omission of Buyer or any of its
agents, contractors, representatives or employees or any tenant of the
Property). Seller shall be entitled to apply the Purchase Price towards the
payment or satisfaction of such liens, and may cure any Objection by causing
the Title Company to insure against collection of the same out of the Property.
More specifically, Seller shall be required to obtain Title Company
endorsements against liens arising by reason of tenants’ acts or omissions, if
the Title Company will issue such endorsements based on Seller’s indemnity
without requirement of a monetary deposit. In the event Seller cannot obtain
such endorsements by Closing, Buyer may either (x) proceed to Closing, without
Seller’s failure to obtain such endorsements being a default by Seller under
this Agreement or (y) terminate this Agreement, in which event, the Deposit
shall be returned to Buyer and neither party shall have any further rights or
obligations hereunder, except as provided in Sections 4.1(d), 6.1, 9.3 and 9.9
below.

 

(d)           If (i) Seller
elects (or is deemed to have elected) not to cure any Objections raised in any
notice timely delivered by Buyer to Seller pursuant to Section 4.1(b), or if
(ii) Seller notifies Buyer that it elects to cure any such Objection but
then does not for any reason effect such cure on or before the Closing Date as
it may be extended hereunder, then Buyer, as its sole and exclusive remedy,
shall have the option of terminating this Agreement by delivering written
notice thereof to Seller within three (3) business days after (as applicable)
(A) its receipt of Seller’s Response stating that Seller will not cure any
such Objection or (B) the expiration of Seller’s Response Period if Seller
does not deliver a Seller’s Response or (C) Seller’s failure to cure by
the Closing Date (as it may be extended hereunder) any Objection which Seller
has previously elected to cure pursuant to a Seller’s Response. In the event of
such a termination, the Deposit shall be returned to Buyer, and neither party
shall have any further rights or obligations hereunder except as provided in
Sections 6.1, 9.3 and 9.9 below. In addition, in the event Buyer terminates
this Agreement pursuant to the events listed in clause (ii) or as set
forth in the last sentence of Section 4.1(c), Buyer shall have the right to
recover from Seller all of the reasonable, verifiable, third-party out of
pocket costs incurred by Buyer in negotiating and entering into this Agreement,
and investigating the Property, not to exceed the Recovery Limit in the
aggregate. If no such termination notice is timely received by Seller 

 

11

 

hereunder,
Buyer shall be deemed to have waived all such Objections in which event those
Objections shall become “Conditions of Title”
under Section 4.1(e). If the Closing is not consummated due to Buyer’s default
hereunder, Buyer shall be responsible for any title or escrow cancellation
charges.

 

(e)           At the Closing,
Seller shall convey title to the Property to Buyer by deed in the form of Exhibit D attached hereto (the “Deed”) subject to no exceptions other than:

 

(i)            Interests of tenants
in possession under the Leases;

 

(ii)           Specific matters
created by or with the written consent of Buyer;

 

(iii)          Non-delinquent liens for
real estate taxes and assessments; and

 

(iv)          Any exceptions disclosed
by the Title Report and any Title Report Update which is approved or deemed
approved by Buyer in accordance with this Article IV above.

 

All of the foregoing exceptions shall be referred to
collectively as the “Conditions of Title.”  Subject to the terms and conditions contained
elsewhere in this Agreement, by acceptance of the Deed and the Closing of the
purchase and sale of the Property, (x) Buyer agrees that it shall acquire the
Property subject to any obligations of the owner of the Property from and after
the Closing set forth in the Conditions of Title, and (y) Buyer agrees that
Seller shall have conclusively satisfied its obligations with respect to title
to the Property. The provisions of this Section shall survive the Closing.

 

Section 4.2            Evidence of Title.

 

Delivery of title in accordance with the foregoing
shall be evidenced by the willingness (as reasonably determined by Buyer) of
the Title Company to issue, at Closing, its Owner’s ALTA Policy of Title
Insurance in the amount of the Purchase Price showing title to the Real
Property vested in Buyer, subject to the Conditions of Title (the “Title Policy”). The Title Policy may contain the
endorsements set forth in Schedule 4.1(b) and issuance of such endorsements
shall be a condition to Buyer’s obligations hereunder. Buyer shall pay the
costs for all such endorsements. Seller shall have no obligation to provide any
endorsements (except endorsements procured by Seller to cure Objections Seller
is required or elects to cure hereunder) or any indemnity or agreement to the
Title Company or Buyer to support the issuance of the Title Policy except
indemnities and agreements customarily provided by sellers of commercial
properties in the Chicago metropolitan area, such as, without limitations, an
affidavit and/or indemnity as to the existing tenants of the Property and any
ongoing construction work at the Property and the absence of any claims or
basis for claims for any mechanic’s, materialman’s or similar liens.

 

12

 

ARTICLE V

RISK OF LOSS AND INSURANCE PROCEEDS

 

Section 5.1            Minor Loss.

 

Buyer shall be bound to purchase the Property for the
full Purchase Price as required by the terms hereof, without regard to the
occurrence or effect of any damage to the Property or destruction of any
improvements thereon or condemnation of any portion of the Property, provided
that:  (a) the cost to repair any such
damage or destruction does not exceed Three Hundred Forty-Five Thousand and
no/100 Dollars ($345,000.00) in the estimate of an architect or contractor
selected by Seller and reasonably acceptable to Buyer or in the case of a
condemnation, the diminution in the value of the remaining Property as a result
of a partial condemnation is not material (as hereinafter defined) and (b) upon
the Closing, there shall be a credit against the Purchase Price due hereunder
equal to the amount of any insurance proceeds or condemnation awards collected
by Seller as a result of any such damage or destruction or condemnation, plus
the amount of any insurance deductible, less any sums reasonably expended by Seller toward the collection of such
proceeds or awards or to protect the Property from further damage. In addition,
if any applicable laws or provisions of any Leases or other contractual
obligations of Seller require Seller to commence restoration or repair of the
Property prior to the Closing, Seller and Buyer shall negotiate reasonably and
in good faith and agree upon the procedure, plans and specifications,
contractor and construction contract, and schedule for the making of such
restoration or repair of the Property, in which event the sums thereafter
expended by Seller in making such restoration or repair of the Property shall
be deducted from the credit to Buyer against the Purchase Price at the Closing.
If the consent or approval of any lender then holding a mortgage that encumbers
the Property is required with respect to the plans and specifications,
contractor, construction contract and/or schedule for making such restoration
or repair of the Property, Seller shall be responsible for obtaining such
consent or approval. If Seller is not required by any applicable laws or
provisions of any Leases or other contractual obligations of Seller to commence
restoration or repair of the Property prior to the Closing, then Seller shall
not make any restoration or repair of the Property without Buyer’s prior
written consent, which Buyer may withhold in its sole and absolute discretion. If
the proceeds or awards have not been collected as of the Closing, then such
proceeds or awards shall be assigned to Buyer, except to the extent needed to
reimburse Seller for sums expended to collect such proceeds or awards or to
repair or restore the Property as set forth above and Seller shall retain the
rights to such proceeds and awards to such extent.

 

Section 5.2            Major Loss.

 

If the cost to repair the damage or destruction as
specified above equals or exceeds Three Hundred Forty-Five Thousand and no/100
Dollars ($345,000.00) in the estimate of an architect or contractor selected by
Seller and reasonably acceptable to Buyer or the diminution in the value of the
remaining Property as a result of a condemnation is material, then Buyer may,
at its option to be exercised within five (5) business days of Seller’s notice
of the occurrence of the damage or destruction or the commencement of
condemnation proceedings, either terminate this Agreement or consummate the
purchase for the full Purchase Price as required by the terms hereof. If Buyer
elects to terminate this Agreement by delivering written notice thereof to
Seller 

 

13

 

or fails to give Seller
notice within such five (5) business day period that Buyer will proceed with
the purchase, then this Agreement shall terminate, the Deposit shall be
returned to Buyer and neither party shall have any further rights or
obligations hereunder except as provided in Sections 6.1, 9.3 and 9.9 below. If
Buyer elects to proceed with the purchase, then upon the Closing, there shall
be a credit against the Purchase Price due hereunder equal to the amount of any
insurance proceeds or condemnation awards collected by Seller as a result of
any such damage or destruction or condemnation, plus the amount of any
insurance deductible, less any sums reasonably
expended by Seller toward the collection of such proceeds or awards or to
protect the Property from further damage. In addition, if any applicable laws
or provisions of any Leases or other contractual obligations of Seller require
Seller to commence restoration or repair of the Property prior to the Closing,
Seller and Buyer shall negotiate reasonably and in good faith and agree upon
the procedure, plans and specifications, contractor and construction contract,
and schedule for the making of such restoration or repair of the Property, in
which event the sums thereafter expended by Seller in making such restoration or
repair of the Property shall be deducted from the credit to Buyer against the
Purchase Price at the Closing. If the consent or approval of any lender then
holding a mortgage that encumbers the Property is required with respect to the
plans and specifications, contractor, construction contract and/or schedule for
making such restoration or repair of the Property, Seller shall be responsible
for obtaining such consent or approval. If Seller is not required by any
applicable laws or provisions of any Leases or other contractual obligations of
Seller to commence restoration or repair of the Property prior to the Closing,
then Seller shall not make any restoration or repair of the Property without
Buyer’s prior written consent, which Buyer may withhold in its sole and
absolute discretion. If the proceeds or awards have not been collected as of
the Closing, then such proceeds or awards shall be assigned to Buyer, except to
the extent needed to reimburse Seller for sums expended to collect such
proceeds or awards or to repair or restore the Property as set forth above and
Seller shall retain the rights to such proceeds and awards to such extent at
Closing. A condemnation shall be deemed material if any portion of any net
rentable area of the Property or any parking is taken, or the existing access
to the Property is materially and adversely affected, permanently, or for any
period longer than sixty (60) days, or if such condemnation shall entitle any
tenant under the Leases to terminate its lease.

 

ARTICLE VI

BROKERS AND EXPENSES

 

Section 6.1            Brokers.

 

Each party represents and warrants to the other that
it has not contracted with or engaged any broker or finder in connection with
this transaction except for CB Richard Ellis, Inc. (“Seller’s
Broker”), which has been engaged by Seller. At Closing, Seller shall
pay the commission due, if any, to Seller’s Broker, which shall be paid
pursuant to a separate agreement between Seller and Seller’s Broker. If any
other person brings a claim for a commission or finder’s fee based upon any
contract with or engagement by Buyer or Seller, then the party through whom
such person makes his claim shall defend the other party (the “Indemnified Party”) from such claim, and shall indemnify the
Indemnified Party and hold the Indemnified Party harmless from any and all
costs, damages, claims, liabilities or expenses (including without limitation,
court costs and reasonable attorneys’ fees and disbursements) incurred by the 

 

14

 

Indemnified Party in
defending against the claim. The provisions of this Section 6.1 shall survive
the Closing or, if the purchase and sale is not consummated, any termination of
this Agreement.

 

Section 6.2            Expenses.

 

Except as provided in Article IV above, and Sections
8.5(a)(vi) and 9.5 below, each party hereto shall pay its own expenses incurred
in connection with this Agreement and the transactions contemplated hereby.

 

ARTICLE VII

LEASES AND OTHER AGREEMENTS

 

Section 7.1            Buyer’s Approval of
New Leases and Agreements Affecting the Property.

 

Between the Effective Date and the Closing, Seller
shall continue to lease the Property in the same manner as before the making of
this Agreement, the same as though Seller were retaining the Property provided
that Seller shall not enter into any new Lease or other agreement affecting the
Property, or modify or terminate any existing Lease or other agreement
affecting the Property, which will be binding on the Property or Buyer after
Closing, except as required under any Lease and except for agreements which are
terminable on no more than sixty (60) days’ notice without payment of any
penalty or fee or other cost to Seller or Buyer, without first obtaining Buyer’s
approval of the proposed action, which Buyer may withhold in its sole
discretion. If Buyer fails to give Seller notice of its approval or disapproval
of any such proposed action requiring its approval under this Section 7.1
within three (3) business days after Buyer receives Seller’s notice of Seller’s
desire to take such action, then Buyer shall be deemed to have given its
approval. Any new Lease or other agreement or amendment shall be on Seller’s
standard forms for such documents.

 

Section 7.2            Tenant Improvement
Costs, Leasing Commissions and Concessions.

 

With respect to any new Lease or Lease modification
entered into by Seller between October 1, 2006 and the Closing Date, and with
respect to any renewal or extension of any Lease, whether through the exercise
of an option or otherwise, occurring between such date and the Closing Date,
the costs of all tenant improvement work required to be paid or provided by the
landlord, leasing commissions, grants of any free rent period or other
concessions to the tenant shall be prorated over the term of the lease, renewal
or extension. Seller’s share of such costs shall be based on the portion of the
lease term, renewal or extension, as the case may be, occurring prior to
Closing, which amount shall be a credit against the Purchase Price, and Buyer
shall be responsible for the remainder of such costs. Buyer shall reimburse
Seller for all such costs incurred by Seller to the extent Buyer is obligated
therefor pursuant to the provisions hereof. Pursuant to the Assignment of
Leases Buyer shall assume any then outstanding obligations with respect to such
tenant improvements, leasing commissions and concessions. Notwithstanding the
foregoing, the costs of leasing commissions, grants of any free rent period,
tenant improvements or other concessions to the tenants set forth in the
amendments to the 

 

15

 

Leases with Sunpak
Corporation and Werner Enterprises, Inc. dated 11/17/06 and 10/26/06,
respectively, and an amendment to the Lease with WKF&C Agency of Illinois,
Inc., in the process of being negotiated, shall be borne solely by Seller. The
provisions of this Section shall survive the Closing.

 

Section 7.3            Tenant Notices.

 

At the Closing, Seller shall furnish Buyer with a
signed notice to be given to each tenant of the Property. The notice shall
disclose that the Property has been sold to Buyer, that, after the Closing, all
rents should be paid to Buyer and that Buyer shall be responsible for the
entire tenant’s security deposit. The form of the notice shall be otherwise
reasonably acceptable to the parties.

 

Section 7.4            Maintenance of
Improvements and Operation of Property; Removal of Tangible Personal Property.

 

Seller agrees to keep its current property insurance
covering the Property in effect until the Closing, Seller shall maintain all Improvements
in their present condition (ordinary wear and tear and casualty excepted), and
shall operate and manage the Property in a manner consistent with Seller’s
practices in effect prior to the Effective Date, provided that Seller shall in
no event be obligated to make any capital expenditures, except for those that
are required to comply with any of the Leases or any applicable laws. Seller
shall not remove any Tangible Personal Property, except as may be required for
necessary repair or replacement, and replacement shall be of substantially
equal or better quality and quantity as the removed item of Tangible Personal
Property.

 

Section 7.5            Intentionally Omitted.

 

Section 7.6            Service Contracts.

 

All contracts pertaining to the operation of the
Property, including all management, leasing, service and maintenance agreements
and equipment leases in effect for the Property are hereinafter referred to as
the “Service Contracts”. Seller is not
assigning to Buyer, and Buyer is not assuming from Seller, any of the Service
Contracts, all of which Seller shall cancel effective as of the Closing.

 

Section 7.7            Exit Corridor

 

Seller has advised Buyer that the City of Naperville
requires that an exit corridor be installed between Suites 110, which is
currently leased by Sunjut and Suite 120, which is currently not leased, as
shown on Schedule 7.7 attached hereto and made a part hereof, in the event
Suite 120 is leased to a party other than Sunjut. Seller estimates that the
cost of completing the exit corridor is $50,000.00. If, by Closing, Suite 120
is leased by Sunjut, neither party shall have any rights or obligations
vis-à-vis the other with respect to the exit corridor. If by Closing, Suite 120
is leased to a party other than Sunjut, Seller shall give Buyer a $50,000
credit at Closing and Buyer shall be solely responsible for constructing the
exit corridor as required by the City of Naperville. If, by Closing, Suite 120
is not leased, Seller shall deposit $50,000 in escrow with the Title Company on
terms and conditions satisfactory to both Seller 

 

16

 

and Buyer. The terms of
the escrow shall provide that in the event (i) Suite 120 is leased by Sunjut,
the Title Company will return the $50,000 plus all earnings thereon, less all
Title Company fees in investing the $50,000 to Seller, or (ii) Suite 120 is
leased by a party other than Sunjut, the Title Company will pay the $50,000,
plus all earnings thereon less all Title Company fees in investing the $50,000,
to Buyer or (iii)  the City of Naperville
requires Buyer to construct the exit corridor, the Title Company will pay the
$50,000, plus all earnings thereon less all Title Company fees in investing the
$50,000, to Buyer.

 

ARTICLE VIII

CLOSING AND ESCROW

 

Section 8.1            Intentionally Omitted.

 

Section 8.2            Closing.

 

The Closing hereunder shall be held and delivery of
all items to be made at the Closing under the terms of this Agreement and
pursuant to escrow instructions using the Title Company’s usual form of deed
and money escrow, modified as necessary to conform to the terms of this
Agreement, at the offices of the Title Company or as otherwise mutually agreed
commencing at 11:00 a.m. local time on February 1, 2007, or such other date and
time as Buyer and Seller may mutually agree upon in writing (the “Closing Date”).

 

Section 8.3            Deposit of Documents.

 

(a)           At or before the
Closing, Seller shall deposit into escrow the following items:

 

(1)           the duly executed
and acknowledged Deed in the form attached hereto as Exhibit D conveying the Real Property to Buyer subject to the
Conditions of Title;

 

(2)           four (4) duly
executed counterparts of the Bill of Sale in the form attached hereto as Exhibit E (the “Bill of Sale”);

 

(3)           four (4) duly
executed counterparts of an Assignment and Assumption of Leases in the form
attached hereto as Exhibit F
pursuant to the terms of which Buyer shall assume all of Seller’s obligations
under the Leases from and after the Closing Date (the “Assignment of Leases”);

 

(4)           four (4) duly
executed counterparts of an Assignment of Intangible Property in the form
attached hereto as Exhibit G
pursuant to the terms of which Buyer shall assume all of Seller’s obligations
from and after the Closing Date under any documents and agreements evidencing
the Intangible Property (the “Assignment of
Intangible Property”); and

 

(5)           an affidavit
pursuant to Section 1445(b)(2) of the Code, and on which Buyer is entitled to
rely, that Seller is not a “foreign person” within the meaning of Section
1445(f)(3) of the Code.

 

17

 

(b)           At or before
Closing, Buyer shall deposit into escrow the following items:

 

(1)           immediately
available funds necessary to close this transaction, including, without
limitation, the Purchase Price (less the Deposit and interest thereon net of
investment fees, if any, and less the amount, if any, deposited in escrow
pursuant to the terms of Section 9.20) and funds sufficient to pay Buyer’s
closing costs and share of prorations hereunder;

 

(2)           four (4) duly executed
counterparts of the Bill of Sale; and

 

(3)           four (4) duly
executed counterparts of the Assignment of Leases; and

 

(4)           four (4) duly
executed counterparts of the Assignment of Intangible Property.

 

(c)           At least one (1)
business days prior to Closing, Seller and Buyer shall sign and deliver to the
Title Company a closing statement prepared by the Title Company, which may be
signed in facsimile or electronic mail counterparts. Seller and Buyer shall
each execute and deposit such transfer tax declarations and such other
instruments as are reasonably required by the Title Company or otherwise
required to close the escrow and consummate the acquisition of the Property in
accordance with the terms hereof. Seller and Buyer hereby designate Title
Company as the “Reporting Person”
for the transaction pursuant to Section 6045(e) of the Code and the regulations
promulgated thereunder and agree to execute such documentation as is reasonably
necessary to effectuate such designation.

 

(d)           On the Closing
Date, Seller shall deliver or make available at the Property to Buyer:
originals of the Leases to the extent in Seller’s possession, or copies of any
Leases not in Seller’s possession together with an affidavit from Seller as to
such copies being true and complete copies of the applicable Lease(s), copies
of the tenant correspondence files and originals of other Due Diligence
Materials only copies of which had been previously delivered to Buyer, and
originals of any other items which Seller was required to furnish Buyer copies
of or make available at the Property pursuant to Sections 2.1(b) or (e) above,
to the extent in Seller’s possession, including Seller’s general ledger, but
excluding other internal books or records which shall be retained by Seller. Seller
shall deliver possession of the Property to Buyer as required hereunder. Seller
shall deliver to Buyer or make available at the Property on the Closing Date
keys to the Property as are in Seller’s possession to the knowledge of Seller.

 

Section 8.4            Estoppel Certificates.

 

(a)           If in accordance
with Article II of this Agreement Buyer elects to proceed with the purchase of
the Property, then Seller shall use commercially reasonable efforts to obtain
estoppel certificates from each tenant of the Property substantially in the
form attached hereto as Exhibit H
or, if a tenant’s lease requires a different form, in the form required by the
tenant’s lease, or as otherwise provided in this paragraph below. It shall be a
condition to Buyer’s obligation to close the sale and purchase of the Property
that on or before the Closing, Buyer receives a signed estoppel certificate
substantially in such form from tenants occupying at least seventy-five percent
(75%) of the area of the Property and the Other Property as hereinafter 

 

18

 

defined
actually rented to tenants (the “Estoppel
Threshold”) which must include estoppel certificates from all
tenants of the Property and the Other Property who lease at least 10,000
sq. ft. in the Property or the Other Property. All estoppel certificates
shall be dated no more than forty-five (45) days prior to the Closing Date.

 

(b)           If Seller is unable
to obtain and deliver sufficient tenant estoppel certificates as required under
Section 8.4(a), or if the certificates received by Buyer contain material
information or omissions unacceptable to Buyer in its reasonable discretion and
Buyer objects thereto by written notice to Seller within two (2) business days
after receipt by Buyer of the objectionable estoppel, but in any event on or
before the Closing Date, then Seller will not be in default by reason thereof,
and Seller may elect to extend the Closing Date by up to ten (10) business days
in order to satisfy the requirement. A “knowledge” qualifier in paragraph 7 of
Exhibit H shall be acceptable to the Buyer. If Seller still cannot satisfy the
requirement at the end of such extended period, then Buyer may, by written
notice given to Seller before the Closing, elect to terminate this Agreement
and receive a refund of the Deposit or waive said condition. If Buyer so elects
to terminate this Agreement, neither party shall have any further rights or
obligations hereunder except as provided in Section 6.1 above and Sections 9.3
and 9.9 below. If no such notice is delivered by Buyer, Buyer shall be deemed
to have waived such condition.

 

Section 8.5            Prorations.

 

(a)             (i)           Rents, including, without limitation,
percentage rents, if any, and any additional charges and expenses payable by
tenants under Leases, all as and when actually collected; water, sewer and
utility charges; amounts payable under any agreements or documents that are
intended to remain in effect after the Closing; annual permits and/or
inspection fees (calculated on the basis of the period covered); and any other
expenses of the operation and maintenance of the Property (including, without
limitation, expenses prepaid by Seller and expenses already paid by Seller but
which are being amortized over time by Seller and with respect to which Seller
shall receive a credit at Closing in the amount of the prepaid or unamortized
portion thereof), shall all be prorated as of 12:01 a.m. on the date of Closing
(i.e., Buyer is entitled to the income and responsible for the expenses of the
day of Closing), on the basis of a 365-day year. Buyer shall pay or reimburse
Seller for the tenant improvement costs, leasing commissions, free rent and
other concessions, as provided in Section 7.2 and Seller shall credit Buyer for
the tenant improvements costs, leasing commissions, free rent and other
concessions, as provided in Section 7.2. Anything herein contained to the
contrary notwithstanding, there shall be no proration of real property taxes
for the years 2006 or 2007, payable in 2007 and 2008, respectively. Buyer shall
purchase the Property subject to the lien of such real property taxes, shall
pay such real property taxes when due with no recourse to Seller. In addition,
Buyer agrees not to invoice, or attempt to collect from, any tenant of the
Property who is a tenant under a Lease where Seller (rather than some prior
owner of the Property) is the landlord for 2006 real property taxes payable in
2007. 

 

19

 

Seller has furnished the tenants under the
Leases with the 2007 budget of expenses and the invoices submitted by Seller to
the tenants under the Leases for rent and other amounts due Seller on January
1, 2007 shall reflect the expense shown in the 2007 budget.

 

(ii)           All rents collected
after the Closing shall be applied and paid as provided in this Section 8.5(a).
If a tenant shall specifically designate a payment as being attributable to a
specific period of time or for a specific purpose, including, without
limitation, for operating expenses or real estate tax payments which were not
paid or were underpaid by such tenant or for reimbursement for work performed
by Seller on the tenant’s premises, such payment shall be so applied. If there
is no such designation, any payment received from a tenant after Closing shall
be deemed a payment of rent due after the Closing until the tenant is current
on rents and sums due under the applicable Lease on or after the Closing, and
then such payments shall be paid to Seller to the extent of any rent or other
sums owing to Seller for periods prior to Closing. Buyer shall use reasonable
efforts to collect such rents and other sums owing to Seller, but shall have no
obligation to threaten or pursue any eviction or collection proceedings against
any tenant. Seller retains the right to collect any such rents and other sums
(including payments due Seller on account of the reconciliation of 2006
expenses as provided in Section 8.5(a)(iii)) from tenants after Closing;
provided, however, that Seller shall have no right to cause any such tenant to
be evicted or to threaten any tenant with eviction or to exercise any other
landlord remedy against such tenant other than to sue for collection.

 

(iii)          Reconciliation of
insurance charges and other expenses (including taxes) owed by tenants under
Leases for 2006 shall be prepared by Seller in accordance with the requirements
set forth in the Leases. Seller agrees to promptly pay what is due tenants by
reason of such reconciliation and shall be entitled to all amounts due from
tenants on account of such reconciliation for 2006. Reconciliation of insurance
charges and other expenses owed by tenants under Leases for 2007 shall be
prepared by Buyer in accordance with the requirements set forth in the Leases. Buyer
agrees to promptly pay what is due tenants by reason of such reconciliation and
shall be entitled to all amounts due from tenants on account of such
reconciliation for 2007. There shall be no such reconciliation between Seller
and Buyer with respect to 2007 expenses and Buyer shall be solely responsible
to tenants on account of reconciliation of 2007 expenses and shall be solely
entitled to any payments owed by tenants on account thereof.

 

(iv)          The amount of any cash
security deposits held by Seller under Leases shall be credited against the
Purchase Price (and Seller shall be entitled to retain such cash security
deposits). Seller shall cause all necessary documents (as reasonably determined
by Buyer) and fees necessary to transfer 

 

20

 

security deposits held in the form of letters
of credit to be deposited by Seller in escrow on or before the date of Closing,
to be delivered to Buyer upon Closing. Seller agrees to co-operate with Buyer
post-Closing to effectuate the transfer of security deposits held in the form
of letters of credit. Seller shall receive credits at Closing for the amount of
any assignable utility or other deposits with respect to the Property. Buyer
shall cause all utilities to be transferred into Buyer’s name and account at
the time of Closing.

 

(v)           Seller and Buyer hereby
agree that if any of the aforesaid prorations and credits cannot be calculated
accurately on the Closing Date or in the case of rents or other charges payable
by tenants, such amount have not been collected, then the same shall be
calculated as soon as reasonably practicable after the Closing Date or the date
such amounts have been collected, and either party owing the other party a sum
of money based on such subsequent proration(s) or credits shall pay said sum to
the other party within thirty (30) days thereafter. Any amounts not paid within
such thirty (30) day period shall bear interest from the date actually received
by the payor until paid at the greater of (i) the rate of ten percent (10%) per
annum or (ii) the prime rate (or base rate) reported from time to time in the “Money
Rates” column or section of The Wall Street Journal as being the base
rate on corporate loans at larger United States money center commercial banks
plus two (2) percent. Upon request of either party, the parties shall provide a
detailed and accurate written statement signed by such party confirming the
payments received by such party from tenants from and after Closing and to the
manner in which such payments were applied, and shall make their books and
records available for inspection by the other party during ordinary business
hours upon reasonable advance notice.

 

(vi)          Seller agrees to pay (i)
1⁄2 the Title Company’s escrow and/or closing fees (including 1⁄2 of the so-called
New York Style Closing Fee), (ii) the cost of the Title Report in the amount of
the Purchase Price, including the cost of Extended Coverage over all five
general exceptions and including the cost of any endorsements procured by
Seller to cure any Objections which Seller is obligated or permitted (and
elects to) cure hereunder, (iii) state and county transfer taxes and (iv) all
recording fees and other costs as provided herein with respect to clearing
Seller’s title. Buyer agrees to pay (i) 1⁄2 the Title Company’s escrow and/or
closing fees (including 1⁄2 of the so-called New York Style Closing Fee, (ii) the
cost of title insurance beyond the costs to be paid by the Seller, including
the cost of any endorsements to the required by Buyer other than extended
coverage, (iii) all recording fees and taxes with respect to the Deed, (iv) all
costs of Buyer’s physical inspections of the Property (environmental,
engineering and so forth) and other due diligence activities, (v) all municipal
transfer taxes, payable in connection with this transaction, and (vi) all costs
of Survey. Except as otherwise specifically provided for in this Agreement, 

 

21

 

each party is responsible for its own
attorneys’ and other professional fees. All other closing costs shall be
allocated in accordance with the prevailing local custom.

 

(b)           The parties will
execute and deliver any required transfer or other similar tax declarations to
the appropriate governmental entity at Closing.

 

(c)           The provisions of
this Section 8.5 shall survive the Closing.

 

ARTICLE IX

MISCELLANEOUS

 

Section 9.1            Notices.

 

Any notices required or permitted to be given
hereunder shall be given in writing and shall be delivered (a) in person, (b)
by certified mail, postage prepaid, return receipt requested, (c) by facsimile
transmission with written evidence confirming transmission, (d) by electronic
mail, or (e) by a commercial overnight courier that guarantees next day
delivery and provides a receipt, and such notices shall be addressed as
follows:

 

	
   

  	
  To Buyer:

  	
  Alliance Commercial Partners, LLC

  165 South Union Boulevard, Suite 510

  Lakewood, CO  80228

  Attention:  Mr. Douglas McCormick

  Fax No.:  (303) 986-7990

  E-Mail Address:  dougm@alliancecp.com

  
	
   

  	
   

  	
   

  
	
   

  	
  with a copy to:

  	
  Holme Roberts & Owen LLP

  1700 Lincoln Street

  Suite 4100

  Denver, CO  80203-4541

  Attention:  Mr. Bruce L. Likoff

  Fax No.:  (303) 866-0345

  E-Mail Address: 
  bruce.likoff@hro.com

  
	
   

  	
   

  	
   

  
	
   

  	
  To Seller:

  	
  Washington Commons Phase II Limited Partnership

  c/o Hamilton Partners

  1901 Butterfield Road

  Suite 270

  Downers Grove, IL 60515

  Attention:  Mr. Gary Mori

  Fax No.:  (630) 719-5570

  E-Mail Address: 
  gmori@hamiltonpartners.com

  

 

22

 

	
   

  	
  with a copy to:

  	
  Seyfarth Shaw LLP

  131 South Dearborn Street, Suite 2400

  Chicago, IL  60603

  Attention:  Mr. Michael D. Miselman

  Fax No.:  (312) 460-7635

  E-Mail Address:  mmiselman@seyfarth.com

  

 

or to such other address as either party may from time
to time specify in writing to the other party. Any notice shall be effective
only upon receipt or the date of written evidence that acceptance of delivery
has been refused.

 

Section 9.2            Entire Agreement.

 

This Agreement, together with the Exhibits and
schedules hereto, contains all representations, warranties and covenants made
by Buyer and Seller and constitutes the entire understanding between the
parties hereto with respect to the subject matter hereof. Any prior
correspondence, memoranda or agreements are replaced in total by this Agreement
together with the Exhibits and schedules hereto.

 

Section 9.3            Entry and Indemnity.

 

In connection with any entry by Buyer, or its agents,
employees or contractors onto the Property, Buyer shall give Seller reasonable
advance notice of such entry and shall conduct such entry and any inspections
in connection therewith (a) during normal business hours, (b) using all
commercially reasonable steps in order to minimize interference with Seller’s
business and the business of Seller’s tenants, and (c) in compliance with all
applicable laws. Without limiting the foregoing, prior to any entry to perform
any on-site testing, including but not limited to any borings, drillings or
samplings, Buyer shall give Seller written notice thereof, including the
identity of the company or persons who will perform such testing and the
proposed scope and methodology of the testing. Seller shall approve or
disapprove, in Seller’s sole but reasonable, discretion, the proposed testing
within three (3) business days after receipt of such notice. If Seller fails to
respond within such three (3) business day period, Seller shall be deemed to
have disapproved the proposed testing. If Buyer or its agents, employees or
contractors take any sample from the Property in connection with any such
approved testing, Buyer shall provide to Seller a portion of such sample being
tested to allow Seller, if it so chooses, to perform its own testing. Buyer
shall permit Seller or its representative to be present to observe any testing
or other inspection or due diligence review performed on or at the Property,
provided that Buyer shall not be required to postpone any testing or other
inspection or due diligence review if Seller is unable or unwilling to provide
a representative to be present. If Buyer terminates this Agreement, except due
to Seller’s default under this Agreement, Buyer shall, upon the request of
Seller, promptly deliver to Seller copies of any reports relating to any
testing or other inspection of the Property performed by Buyer or its agents,
representatives, employees, contractors or consultants. Notwithstanding
anything to the contrary contained herein, Buyer shall not contact any
governmental authority or any tenant without allowing Seller, at Seller’s
election, to have a representative participate in any telephone or other
contact made by Buyer to a governmental authority or tenant and to be present
at any meeting by Buyer with a governmental authority or 

 

23

 

tenant, provided that,
Buyer shall not be required to postpone any such contact if Seller is unable or
unwilling to provide a representative. Buyer shall maintain, and shall assure
that its contractors maintain, public liability and property damage insurance
in a coverage amount not less than Two Million Dollars ($2,000,000.00), insuring
against liability of Buyer and its agents, employees or contractors, arising
out of any entry or inspections of the Property pursuant to the provisions
hereof, and Buyer shall provide Seller with evidence of such insurance coverage
upon request by Seller. Buyer shall indemnify and hold Seller harmless from and
against any costs, damages, liabilities, losses, expenses, liens or claims
(including, without limitation, court costs and reasonable attorneys’ fees and
disbursements) arising out of or relating to any entry on the Property by
Buyer, its agents, employees or contractors in the course of performing the
inspections, testings or inquiries provided for in this Agreement, including,
without limitation, any release of Hazardous Materials or any damage to the
Property; provided that Buyer shall not be liable to Seller solely as a result
of the discovery by Buyer of a pre-existing condition on the Property to the
extent the activities of Buyer, its agents, representatives, employees,
contractors or consultants do not exacerbate the condition. The provisions of
this Section 9.3 shall be in addition to any access or indemnity agreement
previously executed by Buyer in connection with the Property; provided that in
the event of any inconsistency between this Section 9.3 and such other
agreement, the provisions of this Section 9.3 shall govern. The foregoing
indemnity shall survive for a period of twelve (12) months beyond the Closing,
or, if the sale is not consummated, for a period of twelve (12) months beyond the
termination of this Agreement. Any claim for such indemnity that Seller may
have at any time, which is not specifically asserted by written notice to Buyer
within such twelve (12) month period, shall not be valid or effective, and
Buyer shall have no liability to Seller with respect thereto. Buyer’s right of
entry, as provided in this Section 9.3, shall continue up through the date of
Closing.

 

Section 9.4            Time.

 

Time is of the essence in the performance of each of
the parties’ respective obligations contained herein.

 

Section 9.5            Attorneys’ Fees.

 

If either party hereto fails to perform any of its
obligations under this Agreement or if any dispute arises between the parties
hereto concerning the meaning or interpretation of any provision of this
Agreement, whether prior to or after Closing, or if any party defaults in
payment of its post-Closing obligations under this Agreement, and either party
shall commence litigation in connection therewith, then the defaulting party or
the party not prevailing in such dispute, as the case may be, shall pay any and
all costs and expenses incurred by the other party on account of such default
and/or in enforcing or establishing its rights hereunder, including, without
limitation, court costs and reasonable attorneys’ fees and disbursements.

 

Section 9.6            Assignment.

 

Buyer’s rights and obligations hereunder shall not be
assignable without the prior written consent of Seller in Seller’s sole
discretion. Notwithstanding the foregoing, Buyer shall have the right, without
the necessity of obtaining Seller’s consent but with prior written notice to
Seller, to assign its right, title and interest in and to this Agreement to a
separate account, or an entity 

 

24

 

owned by a separate
account, of Buyer, or an entity controlling, controlled by or under common with
the Buyer, at any time before the Closing Date. Buyer shall in no event be
released from any of its obligations or liabilities hereunder in connection
with any assignment. Seller shall not assign or otherwise transfer its interest
under this Agreement and any such assignment or transfer shall be null and void
and shall not confer any rights upon the purported assignee or transferee.

 

Section 9.7            Counterparts.

 

This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which taken
together shall constitute one and the same instrument.

 

Section 9.8            Governing Law.

 

This Agreement shall be governed by and construed in
accordance with the laws of the State in which the Real Property is located.

 

Section 9.9            Confidentiality and
Return of Documents.

 

Buyer and Seller shall each maintain as confidential
this Agreement, the terms hereof and the transactions contemplated hereby. Buyer
shall maintain as confidential the Due Diligence Materials and any reports or
studies prepared for Buyer about the Property, and shall not disclose such
information to any third party. Except as may be required by law, Buyer will
not divulge any such information to other persons or entities including,
without limitation, appraisers, real estate brokers, or competitors of Seller. Notwithstanding
the foregoing, Buyer shall have the right to disclose information with respect
to the Property to its officers, directors, employees, attorneys, accountants,
environmental auditors, engineers, potential lenders, and permitted assignees
under this Agreement and other consultants to the extent necessary for Buyer to
evaluate its acquisition of the Property provided that Seller inform all such
persons that such information is confidential and such persons have agreed to
do so. Buyer shall be liable to Seller for any damages Seller may suffer by
reason of the failure of any such person to keep such information confidential.
If Buyer acquires the Property from Seller, either party shall have the right,
subsequent to the Closing of such acquisition, to publicize the transaction
(other than the parties to, or the specific economics of, the transaction) in
whatever manner it deems appropriate; provided that any press release or other
public disclosure regarding this Agreement or the transactions contemplated
herein, and the wording of same, must be approved in advance by the other
parties. The provisions of this Section shall survive any termination of this
Agreement, but shall terminate at Closing if Closing occurs, except with
respect to the issuance of any press release or other public disclosure
describing the transactions contemplated herein. In the event the transaction
contemplated by this Agreement does not close as provided herein, upon the
request of Seller, Buyer shall promptly return to Seller all Due Diligence
Materials provided to Buyer by Seller and, if such termination is not due to
Seller’s default under this Agreement, copies of any reports concerning the
physical condition of the Property obtained by Buyer (but the delivery of any
such reports by Buyer shall not be an assignment of any rights of Buyer with
respect to such reports or the making of any representation or warranty by
Buyer concerning such reports).

 

25

 

Section 9.10         Interpretation of
Agreement.

 

The article, section and other headings of this
Agreement are for convenience of reference only and shall not be construed to
affect the meaning of any provision contained herein. Where the context so
requires, the use of the singular shall include the plural and vice versa and
the use of the masculine shall include the feminine and the neuter. The term “person” shall include any individual, partnership, joint
venture, corporation, trust, unincorporated association, any other entity and
any government or any department or agency thereof, whether acting in an
individual, fiduciary or other capacity.

 

Section 9.11         Limited Liability.

 

The obligations of Seller under this Agreement and
under all of the Other Documents are intended to be binding only on the
property of Seller and shall not be personally binding upon, nor shall any
resort be had to, the private properties of any Seller Related Parties.

 

Section 9.12         Amendments.

 

This Agreement may be amended or modified only by a
written instrument signed by Buyer and Seller.

 

Section 9.13         No Recording.

 

Neither this Agreement or any memorandum or short form
thereof may be recorded by Buyer, except that this Agreement may be recorded as
may be necessary in connection with the enforcement of Buyer’s rights under
this Agreement due to Seller’s default under this Agreement.

 

Section 9.14         Drafts Not an Offer to
Enter into a Legally Binding Contract.

 

The parties hereto agree that the submission of a
draft of this Agreement by one party to another is not intended by either party
to be an offer to enter into a legally binding contract with respect to the
purchase and sale of the Property. The parties shall be legally bound with
respect to the purchase and sale of the Property pursuant to the terms of this
Agreement only if and when the parties have been able to negotiate all of the
terms and provisions of this Agreement in a manner acceptable to each of the
parties in their respective sole discretion, and both Seller and Buyer have
fully executed and delivered to each other a counterpart of this Agreement (or
a copy by facsimile transmission) (the “Effective Date”).

 

Section 9.15         Intentionally Omitted.

 

Section 9.16         No Partnership.

 

The relationship of the parties hereto is solely that
of Seller and Buyer with respect to the Property and no joint venture or other
partnership exists between the parties hereto. Neither party has any fiduciary
relationship hereunder to the other.

 

26

 

Section 9.17         No Third Party
Beneficiary.

 

The provisions of this Agreement are not intended to
benefit any third parties.

 

Section 9.18         Buyer’s Condition Precedent.

 

This Agreement shall not be binding or enforceable
against either of the parties hereto unless, concurrently with the execution of
this Agreement Buyer has entered into a contract or contracts satisfactory to
it for the purchase of real estate adjoining the Real Property located at
750-900 Diehl Road and 450-550 Diehl Road, Naperville, Illinois (the “Other Property”), owned by NewTower Trust Company, a
Maryland chartered trust company, formerly known as Riggs National Bank of
Washington D.C., as Trustee of the NewTower Trust Company Multi-Employer
Property Trust, a collective investment fund operating under 12 C.F.R. Section
9.18 and Washington Commons Phase III Limited Partnership, an Illinois limited
partnership, respectively (whether one or more contracts, the “Other Contract”). Buyer shall not be required to consummate
the transactions contemplated by this Agreement, and Buyer may terminate this
Agreement by written notice to Seller, unless Buyer has also consummated the
transactions contemplated by the Other Contract. Provided, however, that Buyer
shall be required to consummate the transactions contemplated by this Agreement
if the reason the transactions contemplated by the Other Contract do not close
is Buyer’s default under the Other Contract. A default by the sellers under the
Other Contract shall not be a default by Seller herein and a default by Buyer
under the Other Contract shall not be a default by Buyer herein. If Buyer
terminates this Agreement pursuant to this Section 9.18, the Deposit shall be
returned promptly to Buyer, and neither party shall have any further rights or
obligations hereunder except as provided in Sections 6.1, 9.3 and 9.9 above.

 

Section 9.19         Limitation on Liability.

 

Notwithstanding anything to the contrary contained
herein, after the Closing: (a) the maximum aggregate liability of Seller, and
the maximum aggregate amount which may be awarded to and collected by Buyer
(including, without limitation, for any breach of any representation, warranty
and/or covenant by Seller) under this Agreement or any documents executed
pursuant hereto or in connection herewith, including, without limitation, the
Deed, the Bill of Sale, the Assignment of Leases and Assignment of Warranties
and other Intangible Property (collectively, the “Other
Documents”, shall under no circumstances whatsoever exceed Five
Hundred Thousand Dollars ($500,000.00); 
and (b) no claim by Buyer alleging a breach by Seller of any
representation, warranty and/or covenant of Seller contained herein or in any
of the Other Documents may be made, and Seller shall not be liable for any
judgment in any action based upon any such claim, unless and until such claim,
either alone or together with any other claims by Buyer alleging a breach by
Seller of any such representation, warranty and/or covenant is for an aggregate
amount in excess of Twenty-Five Thousand Dollars ($25,000) (the “Floor Amount”), in which event Seller’s liability respecting
any final judgment concerning such claim or claims shall be for the entire amount
thereof, subject to the limitation set forth in clause (a) above; provided,
however, that if any such final judgment is for an amount that is less than or
equal to the Floor Amount, then Seller shall have no liability with respect
thereto.

 

27

 

Section 9.20         Illinois Bulk Sales.

 

At or prior to the Closing, Seller shall deliver to
Buyer evidence reasonably acceptable to Buyer that the sale of the Property to
Buyer hereunder is not subject to, and does not subject Buyer to liability
under 35 ILCS 5/902(d) or 35 ILCS 120/5j (herein collectively referred to as
the “Act”) and that no more than forty (40)
days prior to the Closing, Seller shall have notified the Illinois Department
of Revenue (herein referred to as the “Department”) of
the intended sale and provided the Department with all other information
required under the Act, including, without limitation, a copy of this
Agreement, and required by the Department to make a determination of how much
the Seller owes to the Department as provided in the Act, if anything. Seller
shall promptly provided Buyer with a copy of such notice to the Department and
with copies of all additional correspondence to and from the Department related
thereto. . Seller agrees that Buyer may, at the Closing, deduct and withhold
from the proceeds that are due Seller the amount necessary to comply with the
withholding requirements imposed by the Act as estimated or determined by the
Illinois Department of Revenue. Buyer shall deposit the amount so withheld in a
separate escrow at Seller’s expense with the Title Company, with such escrow to
contain terms and conditions complying with the Act and mutually satisfactory
to Seller and Buyer. Buyer’s FEIN is 06-1761767.

 

Section 9.21         Calculation of Time
Periods.

 

Unless otherwise specified, in computing any period of
time described herein, the day of the act or event, after which the designated
period of time begins to run, is not to be included and the last day of the
period so computed is to be included, unless such last day is a Saturday,
Sunday or legal holiday, in which event the period shall run until the end of
the next day which is neither a Saturday, Sunday, nor legal holiday (i.e., a
day on which federally chartered banks are not open for business in Chicago,
Illinois). The last day of any period of time described herein shall be deemed
to end at 5 p.m. Chicago, Illinois time on the last day of such period of time.
All days other than Saturdays, Sundays and legal holidays in which federally
chartered banks are closed in Chicago, Illinois are business days hereunder.

 

28

 

The parties hereto have executed this Agreement as of
the date set forth in the first paragraph of this Agreement.

 

	
   

  	
  Seller:

  	
  Washington Commons Phase II Limited 

  Partnership, an Illinois limited partnership

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  HP-900 Diehl Road Limited 

  Partnership, an Illinois limited 

  partnership, its sole general partner

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Hamilton Partners Office 

  Division #1, Inc., an Illinois 

  corporation, its sole general 

  partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Hamilton Partners 

  Office Division #1, Inc., an 

  Illinois corporation, its sole 

  general partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Shigeru Mori

  	
   

  
	
   

  	
   

  	
  Shigeru Mori, 

  Vice-President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Buyer:

  	
  Alliance Commercial Partners, LLC

  
	
   

  	
  a Colorado limited liability company

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ David E. Ramsay

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Its:

  	
  Member

  	
   

  
									

 

29

 

LIST OF EXHIBITS
AND SCHEDULES

 

Exhibits

 

Exhibit A        Real Property Description

 

Exhibit B        Strict Joint Order Escrow Trust Instructions

 

Exhibit C        List of Tenant Leases

 

Exhibit D        Deed

 

Exhibit E         Bill of Sale

 

Exhibit F         Assignment of Leases

 

Exhibit G        Assignment of Warranties and Other Intangible
Property

 

Exhibit H        Estoppel Certificate

 

Schedules

 

Schedule
1.1(c)     Tangible
Personal Property

 

Schedule 3.1          Disclosure Items

 

Schedule
4.1(b)     Objections

 

Schedule 7.7          Exit Corridor

 

 

Exhibit A

 

REAL PROPERTY DESCRIPTION

 

Lot 2 in Washington Commons
Phase I, a Planned Unit Development, being a Subdivision of part of the South 1⁄2
of Section 6, Township 38 North, Range 10, East of the Third Principal
Meridian, according to the Plat thereof recorded April 3, 1987 as Document
R87-46471, in DuPage County, Illinois.

 

A-1

 

Exhibit B

 

STRICT JOINT ORDER ESCROW TRUST INSTRUCTIONS

 

CHICAGO TITLE AND
TRUST COMPANY

 

	
   

  	
  Refer to:

  	
  Amanda Ray

  
	
   

  	
   

  	
   

  
	
   

  	
  Phone no:

  	
  312-223-2710

  
	
   

  	
   

  	
   

  
	
   

  	
  Fax no

  	
  312-223-4952

  

 

STRICT JOINT ORDER
ESCROW TRUST INSTRUCTIONS

 

	
  COMMITMENT NO.:  880004080

  	
  Date:   December 26, 2006

  

 

ESCROW NO.:                            

 

To:          Chicago
Title and Trust Company, Escrow Trustee:

 

Customer
Identification:

 

	
  Seller:

  	
   

  	
  Washington Commons
  Phase II Limited Partnership, an Illinois limited partnership

  
	
   

  	
   

  	
   

  
	
  Purchaser:

  	
   

  	
  Alliance Commercial
  Partners, LLC

  
	
   

  	
   

  	
   

  
	
  Property

  	
   

  	
   

  
	
  Address:

  	
   

  	
  600-700 Diehl Road,
  Naperville, Illinois

  
	
   

  	
   

  	
   

  
	
  Proposed disbursement date:

  	
   

  	
  February 1, 2007

  
					

 

Deposits:

 

Wire transfer in the amount of $207,000.00
representing earnest money deposit for the purchase of the above-referenced
property.

 

Delivery
of Deposits:

 

The above-referenced escrow trust deposits (“deposits”)
are (or will be) deposited with the escrow trustee, to be delivered by it only
upon the receipt of a joint order of the undersigned or their respective legal
representatives or assigns.

 

B-1

 

In no case shall the above mentioned deposits be
surrendered except upon the receipt of an order signed by the parties hereto,
their respective legal representatives or assigns, or in obedience to the court
order described below.

 

If either Seller or Purchaser refuses to sign a joint
order to Chicago Title and Trust Company, then, upon demand of either Seller or
Purchaser, Chicago Title and Trust Company promptly shall interplead all
deposits presently held by it with a court having jurisdiction.

 

Billing
Instructions:

 

Escrow trust fee will be billed:  1⁄2 to Seller and 1⁄2 to Purchaser; investment
fees are to be billed all to Purchaser. An annual maintenance fee, as
determined by the then current rate schedule, will commence February 1, 2008 if
Chicago Title and Trust Company retains any deposits as of that date.

 

PLEASE NOTE: 
The escrow trust fee for these joint order escrow instructions is due
and payable within 30 days from the projected disbursement date (which may be
amended by joint written direction of the parties hereto). In the event no
projected disbursement date is ascertainable, said escrow trust fee is to be
billed at acceptance and is due and payable within 30 days from the billing
date. Chicago Title and Trust Company hereby waives the escrow trust fee for
these joint order escrow trust instructions in the event the funds on deposit
herein are transferred to or disbursed in connection with sale escrow trust
instructions or an agency closing transaction established at Chicago Title and
Trust Company.

 

Investment:

 

Deposits made pursuant to these instructions may be
invested on behalf of any party or parties hereto, provided, that any direction
to escrow trustee for such investment shall be expressed in writing and contain
the consent of all other parties to this escrow, and also provided that you are
in receipt of the taxpayer’s identification number and investment forms as
required. Escrow trustee will, upon request, furnish information concerning its
procedures and fee schedules for investment.

 

Except as to deposits of funds for which escrow
trustee has received express written direction concerning investment or other
handling, the parties hereto agree that the escrow trustee shall be under no
duty to invest or reinvest any deposits at any time held by it hereunder; and,
further that escrow trustee may commingle such deposits with other deposits or
with its own funds in the manner provided for the administration of funds under
Section 2-8 of the Corporate Fiduciary Act (205 ILCS 620/2-8) and may use
any part or all such funds for its own benefit without obligation of any party
for interest or earning derived thereby, if any. Provided, however, nothing
herein shall diminish escrow trustee’s obligation to apply the full amount of
the deposits in accordance with the terms of these escrow trust instructions.

 

In the event the escrow trustee is requested to invest
deposits hereunder. Chicago Title and Trust Company is not to be held
responsible for any loss of principal or interest which may accrue as a result
of making the investments or redeeming said investment for the purposes of the
escrow trust instructions.

 

B-2

 

Compliance
With Court Order:

 

The undersigned authorize and direct the escrow
trustee to disregard any and all notices, warnings or demands given or made by
the undersigned (other than jointly) or by any other person. The said
undersigned also hereby authorize and direct the escrow trustee to accept,
comply with, and obey any and all writs, orders, judgments or decrees entered
or issued by any court with or without jurisdiction; and in case the said
escrow trustee obeys or complies with any such writ, order, judgment or decree
of any court, it shall not be liable to any of the parties hereto or any other
person, by reason of such compliance, notwithstanding any such writ, order,
judgment or decree be entered without jurisdiction or be subsequently reversed,
modified, annulled, set aside or vacated. In case the escrow trustee is made a
party defendant to any suit or proceedings regarding this escrow trust, the
undersigned, for themselves, their heirs, personal representatives, successors,
and assigns, jointly and severally, agree to pay to said escrow trustee, upon
written demand, all costs, attorney’s fees, and expenses incurred with respect
thereto. The escrow trustee shall have a lien on the deposit(s) herein for any
and all such costs, fees and expenses. If said costs, fees and expenses are not
paid, then the escrow trustee shall have the right to reimburse itself out of
said deposit(s).

 

Execution:

 

These escrow trust instructions are governed by and
are to be construed under the laws of the State of Illinois. The escrow trust
instructions, amendment or supplemental instructions hereto, may be executed in
counterparts, each of which shall be deemed an original and all such
counterparts together shall constitute one and the same instrument.

 

	
  For Seller:

  	
   

  	
  For Purchaser:

  
	
   

  	
   

  	
   

  
	
  Firm/Name:

  	
  Seyfarth Shaw LLP

  	
   

  	
  Name:

  	
  Holme Roberts & Owen LLP

  
	
  Attn:

  	
  Michael D. Miselman

  	
   

  	
  Attn:

  	
  Bruce L. Likoff

  
	
  Address:

  	
  131 S. Dearborn Street

  	
   

  	
  Address:

  	
  1700 Lincoln Street

  
	
   

  	
  Suite 2400

  	
   

  	
   

  	
  Suite 4100

  
	
  City/State:

  	
  Chicago, IL 60603-5577

  	
   

  	
  City/State:

  	
  Denver, CO 80203-4541

  
	
  Phone No.:

  	
  (312) 460-5635

  	
   

  	
  Phone No.:

  	
  (303) 866-0345

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Signature:

  	
   

  	
   

  	
  Signature:

  	
   

  	
   

  

 

B-3

 

Accepted: 
Chicago Title and Trust Company as Escrow Trustee

 

 

	
  By:

  	
   

  	
   

  
	
  Date:

  	
   

  	
   

  

 

B-4

 

Exhibit C

 

LIST OF TENANT
LEASES

 

	
  Tenant Name

  	
   

  	
  Lease /
  Amendment

  	
   

  	
  Lease
  Execution Date

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Added Value, Inc. 

  700 E. Diehl, Suite 150

  	
   

  	
  Lease

  	
   

  	
  8/15/2006

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Americall, Inc. 

  	
   

  	
  Lease

  	
   

  	
  9/17/1997

  
	
  550 E. Diehl, Suite 100

  	
   

  	
  1st Amendment

  	
   

  	
  12/31/2004

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  American General 

  Financial Services of 

  Illinois, Inc. 

  650 E. Diehl, Suite 115

  	
   

  	
  Lease

  	
   

  	
  5/11/2004

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Civil Engineering Services, Inc. 

  	
   

  	
  Lease

  	
   

  	
  8/1/2003

  
	
  700 E. Diehl, Suite 180

  	
   

  	
  1st Amendment

  	
   

  	
  7/7/2005

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  CMA-CGM 

  700 E. Diehl, Suite 120

  	
   

  	
  Lease

  	
   

  	
  10/27/2003

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Cressman, Esser, Inc. 

  	
   

  	
  Lease

  	
   

  	
  8/27/1992

  
	
  700 E. Diehl, Suite 140

  	
   

  	
  1st Amendment

  	
   

  	
  2/29/1996

  
	
   

  	
   

  	
  2nd Amendment

  	
   

  	
  4/19/2001

  
	
   

  	
   

  	
  3rd Amendment

  	
   

  	
  none

  
	
   

  	
   

  	
  4th Amendment

  	
   

  	
  2/6/2006

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Digi International, Inc. 

  600 E. Diehl, Suite 150

  	
   

  	
  Lease

  	
   

  	
  9/1/2004

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  DKM Consultants, Inc. 

  	
   

  	
  Lease

  	
   

  	
  3/15/2004

  
	
  700 E. Diehl, Suite 110

  	
   

  	
  1st Amendment

  	
   

  	
  3/1/2006

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Homewerks 

  	
   

  	
  Lease

  	
   

  	
  4/17/1998

  
	
  700 E. Diehl, Suite 130

  	
   

  	
  1st Amendment

  	
   

  	
  2/1/2003

  
	
   

  	
   

  	
  2nd Amendment

  	
   

  	
  5/10/2006

  

 

C-1

 

	
  Tenant Name

  	
   

  	
  Lease /
  Amendment

  	
   

  	
  Lease
  Execution Date

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Legacy.com, Inc. 

  	
   

  	
  Lease

  	
   

  	
  12/12/2002

  
	
  650 E. Diehl, Suite 107

  	
   

  	
  1st Amendment

  	
   

  	
  12/31/2005

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Monument Capital LLC 

  700 E. Diehl, Suite 151

  	
   

  	
  Lease

  	
   

  	
  11/8/2006

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Nestle USA, Inc. 

  	
   

  	
  Lease

  	
   

  	
  3/10/1992

  
	
  650 E. Diehl, Suite 100

  	
   

  	
  1st Amendment

  	
   

  	
  7/9/1997

  
	
   

  	
   

  	
  2nd Amendment

  	
   

  	
  6/5/2000

  
	
   

  	
   

  	
  3rd Amendment

  	
   

  	
  7/29/2003

  
	
   

  	
   

  	
  4th Amendment

  	
   

  	
  8/24/2006

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Steven B. Levy, Ltd. 

  	
   

  	
  Lease

  	
   

  	
  6/1/2003

  
	
  650 E. Diehl, Suite 121

  	
   

  	
  1st Amendment

  	
   

  	
  2/10/2005

  
	
   

  	
   

  	
  Storage Lease

  	
   

  	
  6/3/2005

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Sunpak Corporation d/b/a 

  	
   

  	
  Lease

  	
   

  	
  7/15/2005

  
	
  Sunjut USA 

  600 E. Diehl, Suite 110

  	
   

  	
  1st Amendment

  	
   

  	
  11/17/2006

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Trimarco, Shoults and 

  Radencich, LLC 

  650 E. Diehl, Suite 101

  	
   

  	
  Lease

  	
   

  	
  10/6/2004

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Werner Enterprises, Inc. 

  	
   

  	
  Lease

  	
   

  	
  10/1/2004

  
	
  600 E. Diehl, Suite 140

  	
   

  	
  1st Amendment

  	
   

  	
  10/26/2006

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  WKF&C Agency of 

  	
   

  	
  Lease

  	
   

  	
  12/18/2000

  
	
  Illinois, Inc. 

  	
   

  	
  1st Amendment

  	
   

  	
  10/31/2003

  
	
  700 E. Diehl, Suite 105

  	
   

  	
  Storage Lease

  	
   

  	
  1/24/2005

  

 

C-2

 

	
  Tenant Name

  	
   

  	
  Lease /
  Amendment

  	
   

  	
  Lease
  Execution Date

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Worknet, Inc. 

  	
   

  	
  Lease

  	
   

  	
  5/26/1999

  
	
  600 E. Diehl, Suite 100

  	
   

  	
  1st Amendment

  	
   

  	
  11/24/2003

  
	
   

  	
   

  	
  2nd Amendment

  	
   

  	
  4/15/2005

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Money Tree 

  700 E. Diehl, Suite 151

  	
   

  	
  Lease

  	
   

  	
  11/18/06

  

 

C-3

 

Exhibit D

 

DEED

 

This Instrument Prepared By:

 

Michael D. Miselman

Seyfarth Shaw LLP

131 S. Dearborn St. 

Suite 2400

Chicago, Illinois  60603

 

Upon Recordation Return To:

 

 

 

DEED

 

THIS DEED is made as of the      th
day of January, 2007 by Washington Commons Phase II Limited Partnership, an
Illinois limited partnership, Grantor to                       ,
Grantee.

 

WITNESSETH, that the Grantor, in consideration of the
sum of Ten and No/100s ($10.00) Dollars and other good and valuable
consideration in hand paid, receipt and sufficiency whereof is hereby acknowledged,
and in pursuance of the power and authority vested in the Grantor as said
Trustee and of every other power and authority the Grantor hereunto enabling,
does hereby GRANT, BARGAIN, SELL AND CONVEY unto the Grantee, in fee simple,
the described real estate, situated in the County of DuPage and the State of
Illinois described on Exhibit A attached hereto and made a part hereof subject
to general real estate taxes not yet due and payable and the conditions of
title set forth in Exhibit B attached hereto and made a part hereof, together
with the tenements, hereditaments and appurtenances thereunto belonging or in
any wise appertaining.

 

TO HAVE AND TO HOLD, the real estate, together with
all and singular the tenements, hereditaments and appurtenances thereto in any
wise belonging, subject to the conditions of title, unto Grantee, its
successors, heirs, legal representatives, administrators, and assigns, FOREVER;
and the Grantor hereby does bind itself, its successors, and assigns to WARRANT
AND FOREVER DEFEND all and singular the real estate, together with all and
singular the tenements, hereditaments and appurtenances thereto in any wise
belonging, unto Grantee, its successors, legal representatives, and assigns,
forever, against every person whomsoever, lawfully claiming or to claim the
same, or any part thereof, by, through or under Grantor, but not otherwise,
subject to the conditions of title set forth in Exhibit B attached hereto and
made a part hereof.

 

[Signature
page follows]

 

D-1

 

IN WITNESS WHEREOF, the Grantor, as Trustee as
aforesaid, has hereunto set its hand and seal the day and year first above
written.

 

	
   

  	
  Washington Commons Phase II Limited 

  Partnership, an Illinois limited partnership 

  
	
   

  	
   

  
	
   

  	
  By:

  	
  HP-900 Diehl Road Limited 

  Partnership, an Illinois limited 

  partnership, its sole general partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Hamilton Partners Office 

  Division #1, Inc., an Illinois 

  corporation, its sole general 

  partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Hamilton Partners 

  Office Division #1, Inc., an 

  Illinois corporation, its sole 

  general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Shigeru Mori,

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Vice-President

  	
   

  

 

D-2

 

	
  STATE OF ILLINOIS

  	
  )

  	
   

  
	
   

  	
  )

  	
  SS

  
	
  COUNTY OF COOK

  	
  )

  	
   

  

 

I, the undersigned, a Notary Public in and for said
County, in the State aforesaid, DO HEREBY CERTIFY that Shigeru Mori,
Vice-President of Hamilton Partners Office Division #1, Inc., an Illinois
corporation and sole general partner of HP-900 Diehl Road Limited Partnership,
an Illinois limited partnership and sole general partner of Washington Commons
Phase II Limited Partnership, an Illinois general partnership, personally known
to me to be the same person whose name is subscribed to the foregoing
instrument, appeared before me this day in person, and acknowledged that he
signed, sealed and delivered the said instrument as his free and voluntary act
on behalf of said corporation, for the uses and purposes therein set forth.

 

GIVEN under my hand and official seal, this        
day of January, 2007

 

	
   

  	
   

  
	
   

  	
  Notary Public

  

 

D-3

 

EXHIBIT A TO DEED

 

Lot 2 in Washington Commons Phase I, a
Planned Unit Development, being a Subdivision of part of the South 1⁄2 of Section
6, Township 38 North, Range 10, East of the Third Principal Meridian, according
to the Plat thereof recorded April 3, 1987 as Document R87-46471, in DuPage
County, Illinois.

 

Permanent Real Estate Index
Number:  08-06-404-008

 

Address of Real Estate:  550-750 Diehl Road, Naperville, Illinois
60563

 

D-4

 

EXHIBIT B TO DEED

 

[Insert list of Conditions to Title]

 

D-5

 

Exhibit E

 

BILL OF SALE

 

This Bill of Sale (the “Bill of Sale”)
is made and entered into               ,
20    , by and between                     (“Assignor”), and                   (“Assignee”).

 

In consideration of the sum of Ten Dollars ($10) and
other good and valuable consideration paid by Assignee to Assignor, the receipt
and sufficiency of which are hereby acknowledged, Assignor does hereby assign,
transfer, convey and deliver to Assignee, its successors and assigns, all items
of Tangible Personal Property (as defined in the Agreement referred to below)
and more particularly described on Exhibit A
attached hereto and made a part hereof for all purposes, including, without
limitation, the Tangible Personal Property identified in Exhibit B,
if any, attached hereto and made a part hereof for all purposes (the “Personal Property”).

 

Assignee acknowledges and agrees that, except as
expressly provided in, and subject to the limitations contained in, that
certain Agreement of Purchase and Sale dated                  ,
20    , by and between Assignor and Assignee (the “Agreement”), Assignor has not made, does not make and
specifically disclaims any representations, warranties, promises, covenants,
agreements or guaranties of any kind or character whatsoever, whether express
or implied, oral or written, past, present or future, of, as to, concerning or
with respect to (a) the nature, quality or conditions of the personal property,
(b) the income to be derived from the personal property, (c) the suitability of
the personal property for any and all activities and uses which Assignee may
conduct thereon, (d) the compliance of or by the personal property or its
operation with any laws, rules, ordinances or regulations of any applicable
governmental authority or body, (e) the quality, habitability, merchantability
or fitness for a particular purpose of any of the personal property, or (f) any
other matter with respect to the personal property. Assignee further
acknowledges and agrees that, having been given the opportunity to inspect the
personal property, Assignee is relying solely on its own investigation of the
personal property and not on any information provided or to be provided by
Assignor, except as specifically provided in the Agreement. Assignee further
acknowledges and agrees that any information provided or to be provided with
respect to the personal property was obtained from a variety of sources and
that Assignor has not made any independent investigation or verification of
such information. Assignee further acknowledges and agrees that the sale of the
personal property as provided for herein is made on an “as is, where is”
condition and basis “with all faults,” except as specifically provided in, and
subject to the limitations contained in, the Agreement.

 

The obligations of Assignor are intended to be binding
only on the property of Assignor and shall not be personally binding upon, nor
shall any resort be had to, the private properties of any Seller Related
Parties (as defined in the Agreement).

 

IN WITNESS WHEREOF, Assignor and Assignee have caused
this Bill of Sale to be executed on the date and year first above written.

 

E-1

 

	
   

  	
  Assignor:

  	
  Washington Commons Phase II Limited 

  Partnership, an Illinois limited partnership 

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  HP-900 Diehl Road Limited 

  Partnership, an Illinois limited 

  partnership, its sole general partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Hamilton Partners Office 

  Division #1, Inc., an Illinois 

  corporation, its sole general 

  partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  Hamilton Partners 

  Office Division #1, Inc., an 

  Illinois corporation, its sole 

  general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Shigeru Mori,

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Vice-President

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Assignee:

  	
   

  	
   

  
	
   

  	
   

  	
  a

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
   

  	
   

  
										

 

E-2

 

Exhibit F

 

ASSIGNMENT OF
LEASES

 

This Assignment of Leases (this “Assignment”)
is made and entered into                               ,
20    , by and between                                                                       
(“Assignor”),                                                                    
                                                                                                          
(“Assignee”).

 

For good and valuable consideration paid by Assignee
to Assignor, the receipt and sufficiency of which are hereby acknowledged, Assignor
does hereby assign, transfer, set over and deliver unto Assignee all of
Assignor’s right, title, and interest in and to those certain leases listed on Exhibit A attached hereto and made
a part hereof for all purposes except for Seller’s right to collect delinquent
rent and other delinquent sums owing under such Leases for the period prior to
the date hereof in accordance with the Agreement (as defined below), together
with all guarantees of such leases and all security deposits (whether in the
form of cash, letters of credit or any other form) (such leases, guarantees and
security deposits all hereinafter referred to as the “Leases”).

 

ASSIGNEE ACKNOWLEDGES AND AGREES, BY ITS ACCEPTANCE
HEREOF, THAT, EXCEPT AS EXPRESSLY PROVIDED IN, AND SUBJECT TO THE LIMITATIONS
CONTAINED IN, THAT CERTAIN AGREEMENT OF PURCHASE AND SALE, DATED AS OF                                 ,
20    , BY AND BETWEEN ASSIGNOR AND ASSIGNEE (THE “AGREEMENT”), THE ASSIGNED ITEMS ARE CONVEYED “AS IS, WHERE
IS” AND IN THEIR PRESENT CONDITION WITH ALL FAULTS, AND THAT ASSIGNOR HAS NOT
MADE, DOES NOT MAKE AND SPECIFICALLY DISCLAIMS ANY REPRESENTATIONS, WARRANTIES,
PROMISES, COVENANTS, AGREEMENTS OR GUARANTIES OF ANY KIND OR CHARACTER
WHATSOEVER, WHETHER EXPRESS OR IMPLIED, ORAL OR WRITTEN, PAST, PRESENT OR
FUTURE, OF, AS TO, CONCERNING OR WITH RESPECT TO THE NATURE, QUALITY OR
CONDITION OF THE ASSIGNED ITEMS, THE INCOME TO BE DERIVED THEREFROM, OR THE
ENFORCEABILITY, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF THE
ASSIGNED ITEMS.

 

Except as otherwise expressly provided in Article VII
of the Agreement, by accepting this Assignment and by its execution hereof,
Assignee assumes the payment and performance of, and agrees to pay, perform and
discharge, all the debts, duties and obligations to be paid, performed or
discharged from and after the Closing Date (as defined in the Agreement) by the
“landlord” or the “lessor” under the terms, covenants and conditions of the
Leases, including, without limitation, brokerage commissions and compliance
with the terms of the Leases relating to tenant improvements and security
deposits. Assignee agrees to indemnify, hold harmless and defend Assignor from
and against any and all claims, losses, liabilities, damages, costs and
expenses (including, without limitation, court costs and reasonable attorneys’
fees and disbursements) resulting by reason of the failure of Assignee to
(i) pay, perform or discharge any of the debts, duties or obligations
assumed or agreed to be assumed by Assignee hereunder arising out of or
relating to, directly or indirectly, in whole or in part, the Leases, from and
after the Closing Date or (ii) pay, perform or discharge any of its
obligations under the Agreement relative to the Leases or payment of real
property taxes. Except as otherwise expressly provided in Article VII and
subject to the provisions of Sections 3.2 and 9.19 of the Agreement (which
provisions are not modified in any way by the following indemnity), Assignor
agrees to protect,

 

F-1

 

indemnify, defend and
hold Assignee harmless from and against all claims, losses, damages, costs,
expenses, obligations and liabilities (including, without limitation, court
costs and reasonable attorneys’ fees and disbursements) (collectively, “Claims”) arising out of or relating to, directly or
indirectly, in whole or in part, (i) the Leases prior to the Closing Date or
(ii) Assignor’s failure to pay, perform or discharge any of its obligations
under the Agreement relative to the Leases or payment of real property taxes;
provided, however, that the foregoing indemnity shall not apply to any Claims
relating in any way to the physical, environmental or other condition of the
Property (as defined in the Agreement) or the compliance or non-compliance of
the Property with any legal requirements; and provided further that the
foregoing indemnity shall apply solely to Claims first raised after the Closing
Date and shall survive only for a period of twelve (12) months after the
Closing Date. Any such Claim which Assignee may have at any time against
Assignor, whether known or unknown, which is not specifically asserted by
written notice to Assignor within such twelve (12) month period shall not be
valid or effective, and neither Assignor nor any Seller Related Parties (as
defined in the Agreement) shall have any liability with respect thereto.

 

The obligations of Assignor are intended to be binding
only on the property of Assignor and shall not be personally binding upon, nor
shall any resort be had to, the private properties of any Seller Related
Parties.

 

All of the covenants, terms and conditions set forth
herein shall be binding upon and shall inure to the benefit of the parties
hereto and their respective successors and assigns.

 

IN WITNESS WHEREOF, Assignor and Assignee have caused
this Assignment to be executed on the day and year first above written.

 

	
  Assignor:

  	
   

  	
  Washington Commons Phase II Limited

  
	
   

  	
   

  	
  Partnership, an Illinois limited partnership

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  HP-900 Diehl Road Limited

  
	
   

  	
   

  	
   

  	
  Partnership, an Illinois limited

  
	
   

  	
   

  	
   

  	
  partnership, its sole general partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Hamilton Partners Office

  
	
   

  	
   

  	
   

  	
   

  	
  Division #1, Inc., an Illinois

  
	
   

  	
   

  	
   

  	
   

  	
  corporation, its sole general

  
	
   

  	
   

  	
   

  	
   

  	
  partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  Hamilton Partners

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Office Division #1,

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Inc., an Illinois corporation, its sole

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Shigeru Mori,

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Vice-President

  

 

F-2

 

	
  Assignee:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  a

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
   

  	
   

  
						

 

F-3

 

Exhibit G

 

ASSIGNMENT OF 

WARRANTIES AND OTHER INTANGIBLE PROPERTY

 

This Assignment of Warranties and Other Intangible
Property (this “Assignment”) is made and entered
into                              ,
2007, by and between                                                           
(“Assignor”),                                                                                
                                                                                                  
(“Assignee”).

 

For good and valuable consideration paid by Assignee
to Assignor, the receipt and sufficiency of which are hereby acknowledged,
Assignor does hereby assign, transfer, set over and deliver unto Assignee all
of Assignor’s right, title, and interest in and to the following (collectively,
the “Assigned Items”): (i) those certain
warranties held by Assignor (the “Warranties”)
listed on Exhibit A, if any, attached hereto and
made a part hereof for all purposes, and (ii) all zoning, use, occupancy and
operating permits, and other permits, licenses, approvals and certificates,
maps, plans, specifications, and all other Intangible Personal Property (as
defined in the Agreement) owned by Assignor and used in the use or operation of
the Real Property and Personal Property (each as defined in the Agreement),
including, without limitation, any right of Assignor to use the name
“Washington Commons” and any other trade name owned by Assignor now used
exclusively in connection with the Real Property and any utility contracts or
other agreements or rights relating to the use and operation of the Real
Property and Personal Property (collectively, the “Other
Intangible Property”).

 

ASSIGNEE ACKNOWLEDGES AND
AGREES, BY ITS ACCEPTANCE HEREOF, THAT, EXCEPT AS EXPRESSLY PROVIDED IN, AND
SUBJECT TO THE LIMITATIONS CONTAINED IN, THAT CERTAIN AGREEMENT OF PURCHASE AND
SALE, DATED AS OF                        ,
20    , BY AND BETWEEN ASSIGNOR AND ASSIGNEE (THE “AGREEMENT”), THE ASSIGNED ITEMS ARE CONVEYED “AS IS, WHERE
IS” AND IN THEIR PRESENT CONDITION WITH ALL FAULTS, AND THAT ASSIGNOR HAS NOT
MADE, DOES NOT MAKE AND SPECIFICALLY DISCLAIMS ANY REPRESENTATIONS, WARRANTIES,
PROMISES, COVENANTS, AGREEMENTS OR GUARANTIES OF ANY KIND OR CHARACTER
WHATSOEVER, WHETHER EXPRESS OR IMPLIED, ORAL OR WRITTEN, PAST, PRESENT OR
FUTURE, OF, AS TO, CONCERNING OR WITH RESPECT TO THE NATURE, QUALITY OR
CONDITION OF THE ASSIGNED ITEMS, THE INCOME TO BE DERIVED THEREFROM, OR THE
ENFORCEABILITY, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF THE
ASSIGNED ITEMS.

 

Except as otherwise expressly provided in Article VII
of the Agreement, by accepting this Assignment and by its execution hereof,
Assignee assumes the payment and performance of, and agrees to pay, perform and
discharge, all the debts, duties and obligations to be paid, performed or
discharged from and after the Closing Date (as defined in the Agreement) by the
owner under the Warranties and/or the Other Intangible Property. Assignee
agrees to indemnify, hold harmless and defend Assignor from and against any and
all claims, losses, liabilities, damages, costs and expenses (including,
without limitation, court costs and reasonable attorneys’ fees and
disbursements) resulting by reason of the failure of Assignee to pay, perform or
discharge any of the debts, duties or obligations assumed or agreed to be
assumed by Assignee hereunder arising out of or relating to, directly or
indirectly, in whole or in part, the Assigned Items, from and after the Closing
Date. Except as otherwise expressly provided in Article VII

 

G-1

 

and subject to the
provisions of Sections 3.2 and 9.19 of the Agreement (which provisions are not
modified in any way by the following indemnity), Assignor agrees to protect,
indemnify, defend and hold Assignee harmless from and against all claims,
losses, damages, costs, expenses, obligations and liabilities (including,
without limitation, court costs and reasonable attorneys’ fees and
disbursements) (collectively, “Claims”)
arising out of or relating to, directly or indirectly, in whole or in part, the
Service Contracts (as defined in the Agreement); provided, however, that the
foregoing indemnity shall not apply to any Claims relating in any way to the
physical, environmental or other condition of the Property (as defined in the
Agreement) or the compliance or non-compliance of the Property with any legal
requirements; and provided further that the foregoing indemnity shall apply
solely to Claims first raised after the Closing Date and shall survive only for
a period of twelve (12) months after the Closing Date. Any such Claim which
Assignee may have at any time against Assignor, whether known or unknown, which
is not specifically asserted by written notice to Assignor within such twelve
(12) month period shall not be valid or effective, and neither Assignor nor any
Seller Related Parties (as defined in the Agreement) shall have any liability
with respect thereto.

 

The obligations of Assignor are intended to be binding
only on the property of Assignor and shall not be personally binding upon, nor
shall any resort be had to, the private properties of any Seller Related
Parties.

 

All of the covenants, terms and conditions set forth
herein shall be binding upon and shall inure to the benefit of the parties
hereto and their respective successors and assigns.

 

IN WITNESS WHEREOF, Assignor and Assignee have caused
this Assignment to be executed on the day and year first above written.

 

	
  Assignor:

  	
   

  	
  Washington Commons Phase II Limited

  
	
   

  	
   

  	
  Partnership, an Illinois limited partnership

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  HP-900 Diehl Road Limited

  
	
   

  	
   

  	
   

  	
  Partnership, an Illinois limited

  
	
   

  	
   

  	
   

  	
  partnership, its sole general partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Hamilton Partners Office

  
	
   

  	
   

  	
   

  	
   

  	
  Division #1, Inc., an Illinois

  
	
   

  	
   

  	
   

  	
   

  	
  corporation, its sole general

  
	
   

  	
   

  	
   

  	
   

  	
  partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  Hamilton Partners

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Office Division #1, Inc., an 

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Illinois corporation, its sole

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Shigeru Mori,

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Vice-President

  

 

G-2

 

	
  Assignee:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  a

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
   

  	
   

  
						

 

G-3

 

Exhibit H

 

TENANT ESTOPPEL

 

The undersigned (“Tenant”) hereby
certifies to                                     
(“Seller”) and to                                        
(“Buyer”) and to                                       
(“Lender”) in connection with Buyer’s
proposed purchase of that certain           
building located at                                                                 ,
                                   
(the “Building”) that:

 

1.             Tenant is the lessee of certain space (the
“Premises”) in the Building, containing
approximately                   
square feet and known as Suite No.         ,
under a lease dated                     ,
              
(the “Lease”) entered into between Tenant and
                                                      ,
as lessor (“Lessor”).

 

2.             The Lease is presently in full force and
effect and Tenant is not in default thereunder.

 

3.             The Lease, in the form of Exhibit A attached hereto,
constitutes the entire agreement between the Lessor and Tenant and there has
been no amendment, written or oral, to the Lease except as included in Exhibit A. Tenant neither expects
nor has been promised any inducement, concession or consideration for entering
into the Lease, except as stated therein, and there are no side agreements or
understandings between Lessor and Tenant.

 

4.             Tenant has accepted the Premises and is
paying rent under the Lease.

 

5.             The term of the Lease commenced on                               ,
       , and will end on                           ,
with         options to extend of successive
periods of            
years each. The monthly rental for lease year           
-           is                                                            
Dollars ($                    ).
Except as expressly set forth in the Lease, Tenant has no cancellation rights
under the Lease. Tenant has no purchase options under the Lease with respect to
the Premises.

 

6.             Tenant is required to pay its pro rata
share of operating expenses of the Building and its pro rata share of the
Building’s real property taxes and insurance costs. Tenant’s pro-rata share of
operating expenses, real property taxes and insurance costs is           %.
The amount payable by Tenant on account of operating expenses, real property
taxes and insurance costs is calculated pursuant to the Lease without reference
to any base year or base amount (however identified).

 

7.             As of the date of this certificate, Lessor
is not in default under the Lease, nor has any event or circumstance occurred
or failed to occur that, with the passage of time or the giving of notice, or
both, would constitute a default under the Lease by Lessor.

 

8.             The amount of the security deposit paid
under the terms of the Lease is                                                        
Dollars ($                    ).
No rent under the Lease has been paid more than one month in advance, and no
other sums have been deposited with Lessor. There is no unexpired free rental,
construction, improvement or refurbishment allowance or other allowance,
rebates or other rent concession due to Tenant under the Lease.

 

H-1

 

9.             The undersigned has not entered into any
sublease, assignment or any other agreement transferring any of its interest in
the Lease or the Premises except as follows:                                                                    .

 

10.           Lessor has completed all improvements and
alterations to the Premises or the Building required to be performed or
furnished by Lessor according to the Lease. All sums required to be paid by
Lessor to or for the benefit of Tenant pursuant to the Lease for any construction,
improvement or refurbishment allowance or other allowance have been paid in
full.

 

11.           There are no offsets, defenses, claims,
counterclaims or credits against Lessor or against Lessor’s enforcement of
Tenant’s obligations under the Lease, including, without limitation, the
payment of rent. Lessor has not agreed to assume the obligations of Tenant
under any other lease in connection with Tenant entering into the Lease.

 

12.           Tenant is not insolvent and has not (i) made
a general assignment for the benefit of creditors, (ii) filed any voluntary
petition in bankruptcy or suffered the filing of any involuntary petition by
Tenant’s creditors, (iii) suffered the appointment of a receiver to take
possession of all or any part of the Premises or all, or substantially all, of
Seller’s assets, (iv) suffered the attachment or other judicial seizure of all
or any part of the Premises or all, or substantially all, of Tenant’s assets,
(v) admitted in writing its inability to pay its debts as they come due, or
(vi) made an offer of settlement, extension or composition to its creditors
generally.

 

13.           All exhibits attached hereto are by this
reference incorporated fully herein. The terms “this certificate” shall be
considered to include all such exhibits. The undersigned makes this statement
for the Buyer’s, Seller’s and Lender’s benefit and protection with the
understanding that Buyer (and any assignee of Buyer’s right to purchase the
Premises) and Lender intend to rely upon this statement in connection with
Buyer’s or its assignee’s intended purchase (and Lender’s financing of the
purchase) of the above described Premises from Seller. This certificate may not
be changed, waived or discharged orally, but only by an agreement in writing
signed by Tenant, Buyer, Seller and Lender.

 

	
  EXECUTED:                             
  , 20   .

  	
   

  	
  TENANT:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
   

  	
   

  

 

H-2

 

Schedule 1.1(c)

 

TANGIBLE PERSONAL PROPERTY

 

	
  1.

  	
  1 ea.
  cordless circular saw

  
	
  2.

  	
  1 ea.
  Rubbermaid cart

  
	
  3.

  	
  1 ea. tap
  and dye set

  
	
  4.

  	
  1 ea. 8
  piece hole saw kit

  
	
  5.

  	
  1 ea. 25
  foot ext. ladder

  
	
  6.

  	
  1 ea.
  pneumatic calibration kit

  
	
  7.

  	
  1 ea. plow
  shovel

  
	
  8.

  	
  3 ea. 6 foot
  ladders

  
	
  9.

  	
  1 ea. salt
  spreader

  
	
  10.

  	
  1 ea. dremil
  tool

  
	
  11.

  	
  1 ea. 30
  gal. water heater (new)

  
	
  12.

  	
  1 ea. metal
  storage cabinet

  

 

 

Schedule 3.1

 

DISCLOSURE ITEMS

 

None.

 

 

Schedule 4,1(b)1

 

Objections

 

 

	
  

  	
   

  	
  Holme Roberts & Owen LLP

              Attorneys at Law

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  DENVER

  	
   

  	
  December
  15, 2006

  
	
   

  	
   

  	
   

  
	
  BOULDER

  	
   

  	
  Via Facsimile (630) 719-5570

  
	
   

  	
   

  	
   

  
	
  COLORADO
  SPRINGS

  	
   

  	
  Washington
  Commons Phase II Limited Partnership

  c/o
  Hamilton Partners

  1901
  Butterfield Road 

  Suite
  270

  Downers
  Grove, IL 60515

  Attention:
  Mr. Gary Mori

  
	
   

  	
   

  	
   

  
	
  LONDON

  	
   

  	
  Via Facsimile (312)
  460-7635

  
	
   

  	
   

  	
   

  
	
  LOS
  ANGELES

  	
   

  	
  Seyfarth
  Shaw LLP

  131
  South Dearborn Street, Suite 2400

  Chicago,
  IL 60603

  Attention:
  Mr. Michael D. Miselman

  
	
   

  	
   

  	
   

  
	
  MUNICH

  	
   

  	
  Re:       Title
  and Survey Objections for Draft Agreement of Purchase and Sale between
  Washington Commons Phase II Limited Partnership (“Seller”) and Alliance
  Commercial Partners, LLC, a Colorado limited liability company (“Buyer”) (the
  “Agreement”) for the property known as Lot 2. Washington Commons-Phase 1,
  Naperville, Illinois (the “Property”).

  
	
   

  	
   

  	
   

  
	
  SALT
  LAKE CITY

  	
   

  	
  Gentlemen:

  
	
   

  	
   

  	
   

  
	
  SAN
  FRANCISCO

  	
   

  	
  On
  behalf of Buyer, we have reviewed Title Commitment No. 880004080 dated effective
  as of October 24, 2006 (the “Title Commitment”) prepared by Chicago Title
  Insurance Company (the “Title Company”) and that certain ALTA/ASCM survey
  prepared by Cowhey, Gudmonson, Leder, LTD., Job No. 3642 dated November 28,
  2006. (the “Survey”).

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  We
  are aware that the Agreement is still in negotiations, but in the interest of
  moving due diligence items forward while negotiations are underway, we are sending
  you our objections to the Title Commitment and the Survey for your internal
  discussions and consideration.

  
	
   

  	
   

  	
   

  

 

1700 Lincoln Street, Suite
4100 Denver, Colorado 80203-4541 tel 303.861.7000 fax 303.866.0200

 

 

The Title Commitment

1.     Seller shall satisfy any
requirements directed to it listed under the Requirements Section of the Title
Commitment, including, but not limited to, the reconveyance of the lien
evidenced by the Deeds of Trust and related documents listed in Items 5 through
7 of Schedule B of the Title Commitment.

 

2.     Buyer requires an extended coverage ALTA Owner’s
Policy of Title Insurance (the
“Policy”).

3.     Buyer requires that general notes listed as items 10, 20, 23, 26, 28
and 29 under Schedule B be deleted from the
Policy.

4.     With regard to Item 9 under Schedule B of the Commitment,
Purchaser requires Seller to provide a certified rent roll for the tenants on the property to
Title Company and will request that the Title Company revise said Item 18 accordingly
based upon receipt of said rent
roll.

5.     Buyer objects to Item 16 under Schedule B of the
Commitment, which takes exception to an ordinance dated 1986 approving the plat
for Washington Commons. Buyer requests a certificate from the Seller that
states that there are no outstanding obligations, financial or otherwise, as to
the Property, pursuant to this Ordinance.

6.     Buyer objects to Item 21 tinder Schedule B of the
Commitment, which takes exception to a First Amendment to the Installment
Agreement for the System Development Charges for Washington Commons Phase II. Buyer requests an
estoppel from the Seller that states that there are no defaults under this
agreement and no outstanding obligations, financial or otherwise, as to the
Property under this Declaration.

7.      Buyer objects to Item 24 under Schedule B of the
Commitment, which takes exception to an encroachment of a sidewalk shown on a
survey dated 1996. This survey no longer accurately reflects the Property, and
Buyer will require that the Title Company delete this exception from the
Policy.

 

8.     Buyer objects to Item 25 under Schedule B of tile Commitment, which takes
exception to the Declaration of Easements, Restrictions and

 

2

 

Covenants
dated March 6, 2000. Buyer requests an estoppel from the Association that states
that there are no defaults under this agreement and no outstanding obligations
as to the Property under this Declaration. In addition, Buyer will request that
the Title Company add this document to the legal description as an insured
parcel.

 

9.     Buyer objects to Item 27 under Schedule B of
the Commitment which takes exception to any lien or right to lien for Olsson
Roofing Company-Buyer will require the Title Company to move this to the
requirements section and will require that any lien thereunder be paid and
released at closing.

 

10.   Buyer will
require the following endorsements be included as part of the Policy:

 

a.             ALTA Form 8.1;

b.             ALTA Form 9.2;

c.             Zoning Endorsement;

d.             Deletion of Arbitration and Creditors Rights;

e.             “Same as” survey endorsement; and

f.              Access Endorsement.

 

Please
call with any questions. Upon execution of the Agreement, we will send a formal
title objection letter to Seller, the Title Company and the Surveyor.

	
  Sincerely,

  	
   

  
	
   

  	
   

  
	
  /s/
  Jennifer E. Lathrop

  	
   

  
	
  Jennifer
  E. Lathrop

  	
   

  
	
  Paralegal

  	
   

  

 

cc:           David Ramsay
(via facsimile)

Bruce L. Likoff, Esq. (via e-mail)

Dawn MacKinnon, Esq. (via
e-mail)

 

3

 

Schedule 7.7

 

EXIT CORRIDORExhibit 10.51

 

AGREEMENT OF
PURCHASE AND SALE

 

between

 

Washington Commons
Phase III Limited Partnership, an Illinois limited partnership,

as SELLER,

 

and

 

Alliance
Commercial Partners, LLC,

 

a Colorado limited
liability company, as BUYER

 

Dated as of:   December 26, 2006

 

Washington Commons
Phase III

 

 

TABLE OF
CONTENTS

 

	
   

  	
   

  	
   

  	
   

  	
  Page

  
	
  ARTICLE I PURCHASE AND SALE OF PROPERTY

  	
   

  	
  1

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  1.1

  	
   

  	
  Sale.

  	
   

  	
  1

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  1.2

  	
   

  	
  Purchase Price.

  	
   

  	
  2

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE II CONDITIONS

  	
   

  	
  3

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section 2.1

  	
   

  	
  Buyer’s Conditions Precedent.

  	
   

  	
  3

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE III BUYER’S EXAMINATION

  	
   

  	
  4

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  3.1

  	
   

  	
  Representations and Warranties of
  Seller.

  	
   

  	
  4

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  3.2

  	
   

  	
  No Liability for Exception Matters.

  	
   

  	
  6

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  3.3

  	
   

  	
  Survival of Representations and
  Warranties of Sale.

  	
   

  	
  6

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  3.4

  	
   

  	
  Seller’s Knowledge.

  	
   

  	
  7

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  3.5

  	
   

  	
  Representations and Warranties of
  Buyer.

  	
   

  	
  7

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  3.6

  	
   

  	
  Buyer’s Independent Investigation.

  	
   

  	
  8

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  3.7

  	
   

  	
  Release.

  	
   

  	
  10

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  3.8

  	
   

  	
  Survival.

  	
   

  	
  10

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE IV TITLE

  	
   

  	
  10

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  4.1

  	
   

  	
  Conditions of Title.

  	
   

  	
  10

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  4.2

  	
   

  	
  Evidence of Title.

  	
   

  	
  12

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE V RISK OF LOSS AND INSURANCE PROCEEDS

  	
   

  	
  13

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  5.1

  	
   

  	
  Minor Loss.

  	
   

  	
  13

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  5.2

  	
   

  	
  Major Loss.

  	
   

  	
  13

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE VI BROKERS AND EXPENSES

  	
   

  	
  14

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  6.1

  	
   

  	
  Brokers.

  	
   

  	
  14

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  6.2

  	
   

  	
  Expenses.

  	
   

  	
  15

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE VII LEASES AND OTHER AGREEMENTS

  	
   

  	
  15

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  7.1

  	
   

  	
  Buyer’s Approval of New Leases and
  Agreements Affecting the Property.

  	
   

  	
  15

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  7.2

  	
   

  	
  Tenant Improvement Costs, Leasing
  Commissions and Concessions.

  	
   

  	
  15

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  7.3

  	
   

  	
  Tenant Notices.

  	
   

  	
  16

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  7.4

  	
   

  	
  Maintenance of Improvements and
  Operation of Property; Removal of Tangible Personal Property.

  	
   

  	
  16

  

 

i

 

	
  Section
  7.5

  	
   

  	
  New Management Contract.

  	
   

  	
  16

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  7.6

  	
   

  	
  Service Contracts.

  	
   

  	
  16

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  7.7

  	
   

  	
  Certain Repairs

  	
   

  	
  16

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE VIII CLOSING AND ESCROW

  	
   

  	
  16

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  8.1

  	
   

  	
  Intentionally Omitted.

  	
   

  	
  16

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  8.2

  	
   

  	
  Closing.

  	
   

  	
  16

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  8.3

  	
   

  	
  Deposit of Documents.

  	
   

  	
  17

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  8.4

  	
   

  	
  Estoppel Certificates.

  	
   

  	
  18

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  8.5

  	
   

  	
  Prorations.

  	
   

  	
  19

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE IX MISCELLANEOUS

  	
   

  	
  21

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  9.1

  	
   

  	
  Notices.

  	
   

  	
  21

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  9.2

  	
   

  	
  Entire Agreement.

  	
   

  	
  22

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  9.3

  	
   

  	
  Entry and Indemnity.

  	
   

  	
  23

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  9.4

  	
   

  	
  Time.

  	
   

  	
  24

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  9.5

  	
   

  	
  Attorneys’ Fees.

  	
   

  	
  24

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  9.6

  	
   

  	
  Assignment.

  	
   

  	
  24

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  9.7

  	
   

  	
  Counterparts.

  	
   

  	
  24

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  9.8

  	
   

  	
  Governing Law.

  	
   

  	
  24

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  9.9

  	
   

  	
  Confidentiality and Return of
  Documents.

  	
   

  	
  24

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  9.10

  	
   

  	
  Interpretation of Agreement.

  	
   

  	
  25

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  9.11

  	
   

  	
  Limited Liability.

  	
   

  	
  25

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  9.12

  	
   

  	
  Amendments.

  	
   

  	
  25

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  9.13

  	
   

  	
  No Recording.

  	
   

  	
  26

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  9.14

  	
   

  	
  Drafts Not an Offer to Enter into a
  Legally Binding Contract.

  	
   

  	
  26

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  9.15

  	
   

  	
  Intentionally Omitted.

  	
   

  	
  26

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  9.16

  	
   

  	
  No Partnership.

  	
   

  	
  26

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  9.17

  	
   

  	
  No Third Party Beneficiary.

  	
   

  	
  26

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  9.18

  	
   

  	
  Buyer’s Condition Precedent.

  	
   

  	
  26

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  9.19

  	
   

  	
  Limitation on Liability.

  	
   

  	
  27

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Section
  9.20

  	
   

  	
  Illinois Bulk Sales.

  	
   

  	
  27

  

 

ii

 

	
  Section
  9.21

  	
   

  	
  Calculation of Time Periods.

  	
   

  	
  27

  

 

iii

 

Exhibits

 

	
  Exhibit A

  	
   

  	
  Real
  Property Description

  
	
   

  	
   

  	
   

  
	
  Exhibit B

  	
   

  	
  Strict Joint
  Order Escrow Trust Instructions

  
	
   

  	
   

  	
   

  
	
  Exhibit C

  	
   

  	
  List of
  Tenant Leases

  
	
   

  	
   

  	
   

  
	
  Exhibit D

  	
   

  	
  Deed

  
	
   

  	
   

  	
   

  
	
  Exhibit E

  	
   

  	
  Bill of Sale

  
	
   

  	
   

  	
   

  
	
  Exhibit F

  	
   

  	
  Assignment
  of Leases

  
	
   

  	
   

  	
   

  
	
  Exhibit G

  	
   

  	
  Assignment
  of Warranties and Other Intangible Property

  
	
   

  	
   

  	
   

  
	
  Exhibit H

  	
   

  	
  Estoppel
  Certificate

  

 

Schedules

 

	
  Schedule
  1.1(c)

  	
   

  	
  Tangible
  Personal Property

  
	
   

  	
   

  	
   

  
	
  Schedule 3.1

  	
   

  	
  Disclosure
  Items

  
	
   

  	
   

  	
   

  
	
  Schedule
  4.1(b)

  	
   

  	
  Objections

  
	
   

  	
   

  	
   

  
	
  Schedule 7.7

  	
   

  	
  Repair Work

  

 

 

AGREEMENT OF
PURCHASE AND SALE

 

This Agreement, dated as of December 26, 2006, is
between Washington Commons Phase III Limited Partnership, an Illinois limited
partnership (“Seller”), and the undersigned
buyer (“Buyer”).

 

ARTICLE I

PURCHASE AND SALE OF PROPERTY

 

Section 1.1            Sale.

 

Seller agrees to sell to Buyer, and Buyer agrees to
purchase from Seller, subject to the terms, covenants and conditions set forth
herein, all of Seller’s right, title and interest in and to the following
property (collectively, the “Property”):

 

(a)           Real Property.  That certain real property commonly known as “Washington
Commons I” and located at 450-550 Diehl Road, in the City of Naperville, State
of Illinois, as more particularly described in Exhibit A attached hereto and made a part hereof (the “Land”), together with (1) all improvements
located thereon (the “Improvements”),
(2) all rights, benefits, privileges, easements, tenements, hereditaments,
rights-of-way and other appurtenances thereon or in any way appertaining
thereto, including all mineral rights, development rights, air and water
rights, and (3) all strips and gores and any land lying in the bed of any
street, road or alley, open, proposed or vacated, adjoining such Land
(collectively, the “Real Property”);

 

(b)           Leases.  All of the landlord’s interest in and to all
of the Leases (as defined in Section 2.1(b) below) of the Real Property,
including Leases entered into after the date of this Agreement as permitted by
this Agreement;

 

(c)           Tangible
Personal Property.  All of the
equipment, machinery, furniture, furnishings, supplies and other tangible
personal property, if any, owned by Seller and now or hereafter located on, and
used exclusively in, the operation, ownership or maintenance of the Real
Property (collectively, the “Tangible
Personal Property”), but specifically excluding from the Tangible
Personal Property (1) any items of personal property owned by tenants of the
Property, (2) any items of personal property in Seller’s property management
office, if any, located on the Real Property, (3) any items of personal
property owned by third parties and leased to Seller, and (4) proprietary
computer software, systems and equipment and related licenses used in
connection with the operation or management of the Property.  A complete list of the Tangible Personal Property
is attached hereto as Schedule 1.1(c); and

 

(d)           Intangible
Personal Property.  To the extent
assignable at no cost to Seller, all intangible personal property, if any,
owned by Seller and related to the Real Property and the Improvements,
including, without limitation: Seller’s rights to the name “Washington Commons,”
any other trade names and trademarks associated with the Real Property and the
Improvements, any plans and specifications and other architectural and
engineering drawings for the Improvements, any telephone number associated with
the Improvements and any warranties; and other contract rights related to the
Property (but only to the extent Seller’s obligations

 

 

thereunder are
expressly assumed by Buyer pursuant to the Assignment of Intangible Property as
defined in Section 8.3(a)(4) below); and any governmental permits, approvals
and licenses (including any pending applications) (collectively, the “Intangible Personal Property”).  If the assignment of any Intangible Personal
Property shall require Seller to incur an out-of-pocket cost, Seller shall be
obligated to assign such Intangible Personal Property only if Buyer reimburses
Seller for such cost at Closing.

 

Section 1.2            Purchase Price.

 

(a)           The purchase price
of the Property is Six Million Three Hundred Ninety Three Thousand Five Hundred
and no/100 Dollars ($6,393,500.00) (the “Purchase
Price”).

 

(b)           The Purchase Price
shall be paid as follows:

 

(1)           On or before
December 28, 2006, Buyer shall deposit in escrow with Chicago Title and Trust
Company (the “Title Company”) the amount of One Hundred Fifty-Three Thousand
and no/100 Dollars ($153,000.00) (the “Deposit”)
in cash or other immediately available funds. 
The Deposit shall be held by the Title Company pursuant to the terms of
the Strict Joint Order Escrow Trust Instructions in the form attached hereto as
Exhibit B.

 

The Deposit shall be held in an interest bearing
account and all interest thereon, less investment fees, if any, shall be deemed
a part of the Deposit.  If the sale of
the Property as contemplated hereunder is consummated, then the Deposit shall
be paid to Seller at the Closing (as hereinafter defined) and credited against
the Purchase Price.  IF THE SALE
OF THE PROPERTY IS NOT CONSUMMATED DUE TO SELLER’S DEFAULT HEREUNDER, THEN
BUYER MAY ELECT, AS BUYER’S SOLE AND EXCLUSIVE REMEDY, EITHER TO: (1) TERMINATE
THIS AGREEMENT AND RECEIVE A REFUND OF THE DEPOSIT AND TO RECOVER THE RECOVERY
LIMIT (AS HEREINAFTER DEFINED), IN WHICH EVENT NEITHER PARTY SHALL HAVE ANY
FURTHER RIGHTS OR OBLIGATIONS HEREUNDER EXCEPT AS PROVIDED IN SECTIONS 6.1, 9.3
AND 9.9 BELOW, OR (2) ENFORCE SPECIFIC PERFORMANCE OF THIS AGREEMENT.  BUYER SHALL NOT HAVE ANY OTHER RIGHTS OR
REMEDIES HEREUNDER AS A RESULT OF ANY DEFAULT BY SELLER PRIOR TO CLOSING, AND BUYER
HEREBY WAIVES ANY OTHER SUCH REMEDY AS A RESULT OF A DEFAULT HEREUNDER BY
SELLER.  IF THE SALE IS NOT CONSUMMATED
DUE TO ANY DEFAULT BY BUYER HEREUNDER, THEN SELLER SHALL RETAIN THE DEPOSIT AS
LIQUIDATED DAMAGES.  SELLER HEREBY WAIVES
ANY OTHER REMEDY, INCLUDING ANY RIGHT TO RECOVER ANY OTHER DAMAGES FROM
BUYER.  THE PARTIES HAVE AGREED THAT
SELLER’S ACTUAL DAMAGES, IN THE EVENT OF A FAILURE TO CONSUMMATE THIS SALE DUE
TO BUYER’S DEFAULT PRIOR TO CLOSING, WOULD BE EXTREMELY DIFFICULT OR
IMPRACTICABLE TO DETERMINE.  AFTER
NEGOTIATION, THE PARTIES HAVE AGREED THAT, CONSIDERING ALL THE CIRCUMSTANCES
EXISTING ON THE DATE OF THIS AGREEMENT, THE AMOUNT OF THE DEPOSIT IS A
REASONABLE ESTIMATE OF THE DAMAGES THAT SELLER WOULD INCUR IN SUCH EVENT.  BY PLACING THEIR INITIALS BELOW, EACH PARTY
SPECIFICALLY CONFIRMS THE ACCURACY OF THE STATEMENTS MADE

 

2

 

ABOVE AND THE FACT THAT EACH
PARTY WAS REPRESENTED BY COUNSEL WHO EXPLAINED, AT THE TIME THIS AGREEMENT WAS
MADE, THE CONSEQUENCES OF THIS LIQUIDATED DAMAGES PROVISION.  THE FOREGOING IS NOT INTENDED TO LIMIT BUYER’S
OBLIGATIONS UNDER SECTIONS 6.1, 9.3 AND 9.9.

 

	
  INITIALS:

  	
   

  	
  SELLER

  	
  [ILLEGIBLE]

  	
   

  	
   

  	
  BUYER

  	
  DR

  

 

IF THE SALE OF THE PROPERTY IS NOT CONSUMMATED AND
THE FAILURE TO CONSUMMATE IS NOT DUE TO EITHER SELLER’S DEFAULT OR BUYER’S
DEFAULT, THIS AGREEMENT SHALL BE DEEMED TERMINATED AND BUYER SHALL RECEIVE A
REFUND OF THE DEPOSIT, IN WHICH EVENT NEITHER PARTY SHALL HAVE ANY FURTHER
RIGHTS OR OBLIGATIONS HEREUNDER EXCEPT AS PROVIDED IN SECTIONS 6.1, 9.3 AND 9.9
BELOW.

 

(2)           The balance of the
Purchase Price, which is Six Million Two Hundred Forty Thousand Five Hundred
and no/100 Dollars ($6,240,500.00) (plus or minus the prorations pursuant to
Section 8.5 hereof) shall be paid to Seller in cash or other immediately
available funds at the consummation of the purchase and sale contemplated
hereunder (the “Closing”).

 

ARTICLE II

DUE DILIGENCE MATERIALS

 

Section 2.1            Due Diligence
Materials. 

 

Subject to the provisions of Section 9.3 hereof,
Seller has provided Buyer and its consultants and other agents and
representatives with access to the Property to perform Buyer’s inspections and
review and determine the present condition of the Property.  Seller has delivered or made available to
Buyer, copies of all documents, reports, studies, surveys and other materials
related to the Property in Seller’s possession (the “Due
Diligence Materials”), except that the Due Diligence Materials expressly
excludes(i) any reports, presentations, summaries, projections, budgets and the
like prepared for any of Seller’s boards, committees, partners, financiers or
investors in connection with its consideration of the acquisition of the Real
Property, construction of the Improvements, financing of the Property or sale
of the Property, (ii) any proposals, letters of intent, draft contracts or the
like prepared by or for other prospective purchasers of the Property or any
part thereof, (iii) Seller’s internal memoranda, attorney-client privileged
materials, internal appraisals; and (iv) any information which is the subject
of a confidentiality agreement between Seller and a third party (the items
described in clauses (i), (ii) (iii) and (iv) being collectively referred to as
the “Confidential Information”). 

 

3

 

ARTICLE III

REPRESENTATIONS AND WARRANTIES

 

Section 3.1            Representations and
Warranties of Seller.

 

Subject to the disclosures contained in Schedule 3.1 attached hereto and
made a part hereof (the “Disclosure Items”),
Seller hereby makes the following representations and warranties with respect
to the Property.

 

(a)           Seller has not (i)
made a general assignment for the benefit of creditors, (ii) filed any
voluntary petition in bankruptcy or suffered the filing of any involuntary
petition by Seller’s creditors, (iii) suffered the appointment of a receiver to
take possession of all or any part of the Property or all, or substantially
all, of Seller’s assets, (iv) suffered the attachment or other judicial seizure
of all or any part of the Property or all, or substantially all, of Seller’s
assets, (v) admitted in writing its inability to pay its debts as they come
due, or (vi) made an offer of settlement, extension or composition to its
creditors generally.

 

(b)           Seller is not a “foreign
person” as defined in Section 1445 of the Internal Revenue Code of 1986, as
amended (the “Code”) and any
related regulations.

 

(c)           This Agreement (i)
has been, and all documents executed by Seller which are to be delivered to Buyer
at Closing will be, duly authorized, executed and delivered by Seller, and (ii)
does not and such other documents will not violate any provision of any
agreement or judicial order to which Seller is a party or to which Seller or
the Property is subject.  This Agreement
constitutes, and all documents executed by Seller which are to be delivered to
Buyer at Closing will constitute, the valid and binding agreement of Seller,
enforceable in accordance with its terms, except as such enforceability is
limited by bankruptcy, insolvency and other similar laws affecting the
enforcement of creditors’ rights generally.

 

(d)           Seller has the
power and authority to enter into this Agreement and all documents executed by
Seller which are to be delivered to Buyer at Closing and to perform its
obligations hereunder and thereunder.

 

(e)           The only tenant
leases, guaranties thereof and any other occupancy agreements and all
amendments and modifications thereof affecting the Property (collectively, the “Leases”) in force for the Property are set
forth in a tenant list attached hereto as Exhibit
C and made a part hereof. 
Seller has not sent any written notice of any default with respect to
such Leases or by any tenant under such Leases, which has not been cured.  To the best of Seller’s knowledge, Seller has
not received any written notice of any default by Seller with respect to such
Leases which has not been cured.  To the
best of Seller’s knowledge, the copies of the Leases that Seller has provided,
or will provide, to Buyer are true, correct and complete copies of such Leases.

 

(f)            Intentionally
Omitted. 

 

(g)           To the best of
Seller’s knowledge, there is no litigation or governmental proceeding
(including, but not limited to any condemnation proceeding) or proceeding to
change

 

4

 

the zoning
classification of the Property or to include the Property in any special
governmental district or to exclude the Property from any special governmental
district in which it is presently located) pending or threatened with respect
to the Property, or with respect to Seller which impairs Seller’s ability to
perform its obligations under this Agreement, except for any personal injury or
property damage action for which there is adequate insurance coverage.  Seller has not commenced any such litigation
or governmental proceeding still pending.

 

(h)           To the best of
Seller’s knowledge, Seller has received no written notice from any governmental
authority (including, without limitation, regulatory authorities) or other
person or entity of any violation of any law applicable to the Property
(including, without limitation, any Environmental Law as defined in Section
3.6(a)(2) below) that has not been corrected.

 

(i)            To the best of
Seller’s knowledge, all of the Due Diligence Materials delivered or made
available by Seller to Buyer in connection with the Property are true and
complete copies of such items in Seller’s possession which are used by Seller
in the operation of the Property.

 

(j)            Seller has been
duly organized, validly exists, and is in good standing in the jurisdiction in
which it was formed, and, to the extent required by law, is qualified to do
business in the state in which the Real Property is located. 

 

(k)           Neither Seller nor
any person holding a direct or indirect ownership interest in Seller is
described in, covered by or specially designated pursuant to, or affiliated
with any person described in, covered by or specially designated pursuant to,
any Anti-Terrorism Law or any list issued by any department or agency of the
United States of America in connection with any Anti-Terrorism Law.  For purposes hereof, Anti-Terrorism Law”
shall mean Executive Order 13224, as amended; the International Emergency
Economic Powers Act, 50 U.S.C. Sections 1701-06 et seq.; the Iraqi Sanctions
Act, Pub.L. 101-513, 104 Stat. 2047-55; the United Nations Participation Act,
22 U.S.C. Section 287c; the Antiterrorism and Effective Death Penalty Act; the
International Security and Development Cooperation Act, 22 U.S.C. Section 2349
aa-9; the Terrorism Sanctions Regulations, 31 C.F.R. Part 595; the Terrorism
List Governments Sanctions Regulations, 31 C.F.R. Part 596; and the Foreign
Terrorist Organizations Sanctions Regulations, 31 C.F.R. Part 597.

 

(l)            Seller owns, or at
Closing will own, the interest in the Leases and Intangible Personal Property
to be assigned to Buyer at Closing free and clear of any claims to the Seller’s
ownership interest in said Leases and Intangible Personal Property.  

 

Each of the representations and warranties of Seller
contained in this Section 3.1:  (1) shall
be true in all material respects as of the date of Closing, subject in each
case to (A) any Exception Matters (as defined below), (B) the Disclosure Items,
and (C) other matters expressly permitted in this Agreement or otherwise
specifically approved by Buyer in writing; and (2) shall survive the Closing as
provided in Section 3.3 below.

 

5

 

Section 3.2            No Liability for
Exception Matters.

 

As used herein, the term “Exception
Matter” shall refer to a matter which would make a representation or
warranty of Seller contained in this Agreement untrue or incorrect and which is
specifically disclosed to Buyer in writing identified as an Exception Matter or
is actually discovered by Buyer before the Closing, including, without
limitation, matters disclosed in any tenant estoppel certificate or from
interviews with tenants, property managers or any other person.  If Buyer first obtains knowledge of any
material Exception Matter prior to Closing, Buyer’s sole remedy shall be to
terminate this Agreement on the basis thereof, by written notice to Seller
within five (5) business days following Buyer’s discovery of such Exception
Matter or the Closing, which ever occurs first, in which event the Deposit
shall be returned to Buyer, unless within five (5) business days after receipt
of such notice or the Closing, whichever first occurs, Seller notifies Buyer in
writing that it elects to cure or remedy such Exception Matter. Seller shall be
entitled to extend the Closing Date (as defined in Section 8.2 below) for up to
ten (10) business days in order to cure or remedy any Exception Matter.  Buyer’s failure to give notice within five
(5) business days after it has obtained knowledge of a material Exception
Matter shall be deemed a waiver by Buyer of such Exception Matter.  Seller shall have no obligation to cure or
remedy any Exception Matter, unless Seller has notified Buyer of Seller’s
election to cure or remedy any Exception Matter (except as specifically
provided in Section 4.1(c) hereof). 
Subject to Buyer’s right to terminate this Agreement as set forth above,
if Seller elects not to cure any Exception Matter, Seller shall have no
liability whatsoever to Buyer with respect to any Exception Matters, except
that if Seller intentionally, or with gross negligence, refused or failed to
deliver, or make available to Buyer, Due Diligence Material which would have
disclosed an Exception Matter or, if by reason of Seller’s act or omission
after the date hereof, a warranty or representation which is true as of the
date hereof, becomes untrue, Buyer shall have the right, if it terminates this
Agreement, to recover from Seller all of the reasonable, verifiable, third
party out of pocket costs incurred by Buyer in negotiating and entering into
this Agreement and investigating the Property, not to exceed $50,000 in the
aggregate (the “Recovery Limit”).  Upon any termination of this Agreement,
neither party shall have any further rights or obligations hereunder, except as
provided in this Section 3.2 or in Sections 6.1, 9.3 and 9.9 below.  If Buyer obtains actual knowledge of any
Exception Matter not disclosed by Seller to Buyer in writing before the
Closing, but nonetheless elects to proceed with the acquisition of the
Property, Seller shall have no liability with respect to such Exception Matter,
notwithstanding any contrary provision, covenant, representation or warranty
contained in this Agreement or in any Other Documents (as defined in Section
9.19 below).

 

Section 3.3            Survival of
Representations and Warranties of Sale.

 

The representations and warranties of Seller contained
herein or in any Other Documents shall survive for a period of twelve (12)
months after the Closing.  Any claim
which Buyer may have at any time against Seller for a breach of any such
representation or warranty, whether such breach is known or unknown, which is
not specifically asserted by written notice to Seller within such twelve (12)
month period, shall not be valid or effective, and Seller shall have no
liability with respect thereto.

 

6

 

Section 3.4            Seller’s Knowledge.

 

For purposes of this Agreement and any document
delivered at Closing, whenever the phrase “to the best of Seller’s
knowledge” or the “knowledge” of
Seller or words of similar import are used, they shall be deemed to mean and
are limited to the current actual knowledge only of Paul O’Connor, at the times
indicated only, and not any implied, imputed or constructive knowledge of such
individual(s) or of Seller or any Seller Related Parties (as defined in Section
3.7 below), and without any independent investigation or inquiry having been
made or any implied duty to investigate, make any inquiries or review the Due
Diligence Materials.  Seller represents
and warrants to Buyer that Paul O’Connor is Seller’s employee with primary
responsibility for operations of the Property and the person with the greatest
knowledge of the matters stated in Seller’s representations and warranties set
forth in Section 3.1 above.  Furthermore,
it is understood and agreed that such individual(s) shall have no personal
liability for the untruth or incorrectness of any representation or warranty of
Seller.

 

Section 3.5            Representations and
Warranties of Buyer.

 

Buyer represents and warrants to Seller as follows:

 

(a)           This Agreement and
all documents executed by Buyer which are to be delivered to Seller at Closing
do not and at the time of Closing will not violate any provision of any
agreement or judicial order to which Buyer is a party or to which Buyer is
subject.

 

(b)           Buyer has not (i)
made a general assignment for the benefit of creditors, (ii) filed any
voluntary petition in bankruptcy or suffered the filing of any involuntary
petition by Buyer’s creditors, (iii) suffered the appointment of a receiver to
take possession of all, or substantially all, of Buyer’s assets, (iv) suffered
the attachment or other judicial seizure of all, or substantially all, of Buyer’s
assets, (v) admitted in writing its inability to pay its debts as they come
due, or (vi) made an offer of settlement, extension or composition to its
creditors generally.

 

(c)           Buyer has been duly
organized, validly exists and is in good standing in the state in which it was
formed, and is qualified to do business in the state in which the Real Property
is located to the extent such qualification is required by the laws of such
state.  This Agreement has been, and all
documents executed by Buyer which are to be delivered to Seller at Closing will
be, duly authorized, executed and delivered by Buyer.  This Agreement constitutes, and all documents
executed by Buyer which are to be delivered to Seller at Closing will constitute,
the valid and binding agreement of Buyer, enforceable in accordance with its
terms, except as such enforceability is limited by bankruptcy, insolvency and
other similar laws affecting the enforcement of creditors’ rights generally.

 

(d)           Neither Buyer nor
any person holding a direct or indirect ownership interest in Buyer is
described in, covered by or specially designated pursuant to, or affiliated
with any person described in, covered by or specially designated pursuant to,
any Anti-Terrorism Law or any list issued by any department or agency of the
United States of America in connection with any Anti-Terrorism Law. 

 

Each of the representations and warranties of Buyer
contained in this Section shall be deemed remade by Buyer as of the Closing and
shall survive the Closing.  The
representations

 

7

 

and warranties of Buyer
contained in this Agreement shall survive for a period of twelve (12) months
after the Closing.  Any claim which
Seller may have at any time against Buyer for a breach of any such
representation or warranty, whether such breach is known or unknown, which is
not specifically asserted by written notice to Buyer within such twelve (12)
month period, shall not be valid or effective, and Buyer shall have no
liability to Seller with respect thereto.

 

Section 3.6            Buyer’s Independent
Investigation.

 

(a)           Buyer acknowledges
and agrees that it has been given a full opportunity to inspect and investigate
each and every aspect of the Property, either independently or through agents
of Buyer’s choosing, including, without limitation:

 

(1)           All matters
relating to title and survey, together with all governmental and other legal
requirements such as taxes, assessments, zoning, use permit requirements and
building codes.

 

(2)           The physical
condition and aspects of the Property, including, without limitation, the
interior, the exterior, the square footage within the improvements on the Real
Property and within each tenant space therein, the structure, seismic aspects
of the Property, the foundation, roof, paving, parking facilities, utilities,
and all other physical and functional aspects of the Property and including the
opportunity to examine the physical condition of the Property for the presence
or absence of Hazardous Materials, as defined below.  For purposes of this Agreement, “Hazardous Materials” shall mean inflammable
explosives, radioactive materials, asbestos, asbestos–containing materials,
polychlorinated biphenyls, lead, lead-based paint, radon, under and/or above
ground tanks, hazardous materials, hazardous wastes, hazardous substances, oil,
or related materials, which are listed or regulated in the Comprehensive
Environmental Response, Compensation and Liability Act of 1980, as amended (42
U.S.C. Sections 6901, et seq.), the Resources Conservation and Recovery Act of
1976 (42 U.S.C. Section 6901, et seq.), the Clean Water Act (33 U.S.C. Section
1251, et seq.), the Safe Drinking Water Act (14 U.S.C. Section 1401, et seq.),
the Hazardous Materials Transportation Act (49 U.S.C. Section 1801, et seq.),
and the Toxic Substance Control Act (15 U.S.C. Section 2601, et seq.)  (collectively, “Environmental Laws”).

 

(3)           Any easements
and/or access rights affecting the Property.

 

(4)           The Leases,
including, without limitation, the ability of the tenants to pay the rent and
the economic viability of the tenants.

 

(5)           Intentionally
Omitted. 

 

(6)           All other matters
of material significance affecting the Property.

 

(b)           Except as expressly
stated herein, Seller makes no representation or warranty as to the truth,
accuracy or completeness of any materials, data or information delivered by
Seller to Buyer in connection with the transaction contemplated hereby.  Buyer acknowledges and agrees that all
materials, data and information delivered by Seller to Buyer in connection with
the transaction contemplated hereby are provided to Buyer as a convenience only
and that any reliance on or use of such materials, data or information by Buyer
shall be at the sole risk of

 

8

 

Buyer, except
as otherwise expressly stated herein. 
Without limiting the generality of the foregoing provisions, Buyer
acknowledges and agrees that (a) any environmental or other report with respect
to the Property which is delivered by Seller to Buyer shall be for general
informational purposes only, (b) Buyer shall not have any right to rely on any
such report delivered by Seller to Buyer, but rather will rely on its own
inspections and investigations of the Property and any reports commissioned by
Buyer with respect thereto, and (c) neither Seller, any affiliate of Seller nor
the person or entity which prepared any such report delivered by Seller to
Buyer shall have any liability to Buyer for any inaccuracy in or omission from
any such report.

 

(c)           EXCEPT AS EXPRESSLY
SET FORTH IN SECTION 3.1 ABOVE AND ELSEWHERE IN THIS AGREEMENT AND THE
DOCUMENTS DELIVERED BY SELLER TO BUYER AT CLOSING, BUYER SPECIFICALLY
ACKNOWLEDGES AND AGREES THAT SELLER IS SELLING AND BUYER IS PURCHASING THE
PROPERTY ON AN “AS IS WITH ALL FAULTS” BASIS AND THAT BUYER IS NOT RELYING ON
ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND WHATSOEVER, EXPRESS OR IMPLIED,
FROM SELLER, ANY SELLER RELATED PARTIES, OR THEIR AGENTS OR BROKERS, OR ANY
OTHER PERSON ACTING OR PURPORTING TO ACT ON BEHALF OF SELLER, AS TO ANY MATTERS
CONCERNING THE PROPERTY, INCLUDING WITHOUT LIMITATION:  (i) the quality, nature, adequacy and
physical condition and aspects of the Property, including, but not limited to,
the structural elements, seismic aspects of the Property, foundation, roof,
appurtenances, access, landscaping, parking facilities and the electrical,
mechanical, HVAC, plumbing, sewage, and utility systems, facilities and
appliances, the square footage within the improvements on the Real Property and
within each tenant space therein, (ii) the quality, nature, adequacy, and
physical condition of soils, geology and any groundwater, (iii) the existence,
quality, nature, adequacy and physical condition of utilities serving the
Property, (iv) the development potential of the Property, and the Property’s
use, habitability, merchantability, or fitness, suitability, value or adequacy
of the Property for any particular purpose, (v) the zoning or other legal
status of the Property or any other public or private restrictions on use of
the Property, (vi) the compliance of the Property or its operation with any
applicable codes, laws, regulations, statutes, ordinances, covenants,
conditions and restrictions of any governmental or quasi-governmental entity or
of any other person or entity, (vii) the presence of Hazardous Materials on,
under or about the Property, (viii) the quality of any labor and materials used
in any improvements on the Real Property, (ix) the condition of title to the
Property, (x) the Leases or other documents or agreements affecting the
Property, or any information contained in any rent roll furnished to Buyer for
the Property, (xi) the value, economics of the operation or income potential of
the Property, or (x) any other fact or condition which may affect the Property,
including without limitation, the physical condition, value, economics of
operation or income potential of the Property. 
In addition, Seller shall have no legal obligation to apprise Buyer regarding
any event or other matter involving the Property which occurs after the
Effective Date, unless and until an event or other matter which would cause
Seller to be unable to remake any of its representations or warranties
contained in this Agreement occurs. 
Notwithstanding the foregoing, Seller agrees to deliver subsequent Due
Diligence Materials (if any) to Buyer as such Due Diligence Materials come into
Seller’s possession.

 

9

 

Section 3.7            Release.

 

Without
limiting the above, and subject to the representations and warranties of Seller
contained in Section 3.1 hereof and elsewhere in this Agreement and the
documents delivered by Seller to Buyer at Closing.  Buyer on behalf of itself and its successors
and assigns waives its right to recover from, and forever releases and
discharges, Seller, Seller’s affiliates, Seller’s investment advisor, the
partners, trustees, beneficiaries, shareholders, members, managers, directors,
officers, employees and agents and representatives of each of them, and their
respective heirs, successors, personal representatives and assigns
(collectively, the “Seller Related Parties”),
from any and all demands, claims, legal or administrative proceedings, losses,
liabilities, damages, penalties, fines, liens, judgments, costs or expenses
whatsoever (including, without limitation, court costs and attorneys’ fees and
disbursements), whether direct or indirect, known or unknown, foreseen or
unforeseen, that may arise on account of or in any way be connected with (i)
the physical condition of the Property including, without limitation, all
structural and seismic elements, all mechanical, electrical, plumbing, sewage,
heating, ventilating, air conditioning and other systems, the environmental
condition of the Property and the presence of Hazardous Materials on, under or
about the Property, or (ii) any law or regulation applicable to the Property,
including, without limitation, any Environmental Law and any other federal,
state or local law.

 

Section 3.8            Survival.

 

The provisions of this Article III shall survive the
Closing subject to the limitations and qualifications contained in such
provisions and in Sections 9.11 and 9.19 hereof.

 

ARTICLE IV

TITLE

 

Section 4.1            Conditions of Title.

 

(a)           Seller has
delivered to Buyer a preliminary title report or commitment (the “Title Report”) from the Title Company,
together with copies of all underlying documents relating to title exceptions
referred to therein.  Seller has
previously furnished to Buyer any existing survey of the Property in Seller’s
possession.  Buyer has ordered a plat or
survey of the Property or an update thereto from a duly licensed surveyor (the “Survey”). 
Buyer shall provide Seller with a copy of the Survey, which shall be
certified to the Title Company and Buyer. 
Buyer shall pay the entire cost of the Survey.  If Closing does not occur, and Seller is not
in default hereunder, Buyer shall, if Seller so requests, assign, without
warranty or recourse, to Seller all contract rights Buyer has with the surveyor
and Seller shall reimburse Buyer for the cost of the Survey.  

 

(b)           Buyer has
heretofore furnished Seller with a written statement of objections, if any, to
the title to the Property, including, without limitation, any objections to any
matter shown on the Survey (collectively, “Objections”)
as set forth in Schedule 4.1(b) hereof. 
In the event the Title Company amends or updates the Title Report after
the Title Review Date (each, a “Title Report
Update”), Buyer shall furnish Seller with a written statement of

 

10

 

Objections to
any matter first raised in a Title Report Update within five (5) business days
after its receipt of such Title Report Update (each, a “Title Update Review Period”).  Should Buyer fail to notify Seller in writing
of any Objections first disclosed in a Title Report Update prior to the Title
Update Review Period, Buyer shall be deemed to have approved such matters which
shall be considered to be “Conditions of
Title” as defined in Section 4.1(e) below.

 

(c)           Seller shall have
the right, but not the obligation, except as provided below in this Section
4.1(c), to elect to cure any such matter by giving written notice to Buyer (“Seller’s Response”), within five (5)
business days after the date hereof (“Seller’s
Response Period”), and may extend the Closing Date for up to ten
(10) business days to allow such cure. 
If Seller does not give any Seller’s Response, Seller shall be deemed to
have elected not to cure any such matters. 
Notwithstanding the foregoing, Seller shall in any event be obligated to
cure all matters or items (i) that are mortgage or deed of trust liens or
security interests against the Property, in each case granted by Seller or
prior owners of the Property (and not tenants of the Property or other third
parties), (ii) real estate tax liens, other than liens for taxes and
assessments not yet delinquent, (iii) that have been voluntarily placed or
permitted against the Property by Seller (and not tenants of the Property or
other third parties) after the date of this Agreement and (iv) that are
mechanic’s, materialman’s or similar liens (unless resulting from any act or
omission of Buyer or any of its agents, contractors, representatives or
employees or any tenant of the Property). 
Seller shall be entitled to apply the Purchase Price towards the payment
or satisfaction of such liens, and may cure any Objection by causing the Title
Company to insure against collection of the same out of the Property.  More specifically, Seller shall be required
to obtain Title Company endorsements against liens arising by reason of tenants’
acts or omissions, if the Title Company will issue such endorsements based on
Seller’s indemnity without requirement of a monetary deposit.  In the event Seller cannot obtain such
endorsements by Closing, Buyer may either (x) proceed to Closing, without
Seller’s failure to obtain such endorsements being a default by Seller under
this Agreement or (y) terminate this Agreement, in which event, the Deposit
shall be returned to Buyer and neither party shall have any further rights or
obligations hereunder, except as provided in Sections 4.1(d), 6.1, 9.3 and 9.9
below.  

 

(d)           If (i) Seller
elects (or is deemed to have elected) not to cure any Objections raised in any
notice timely delivered by Buyer to Seller pursuant to Section 4.1(b), or if
(ii) Seller notifies Buyer that it elects to cure any such Objection but
then does not for any reason effect such cure on or before the Closing Date as
it may be extended hereunder, then Buyer, as its sole and exclusive remedy,
shall have the option of terminating this Agreement by delivering written
notice thereof to Seller within three (3) business days after (as applicable)
(A) its receipt of Seller’s Response stating that Seller will not cure any
such Objection or (B) the expiration of Seller’s Response Period if Seller
does not deliver a Seller’s Response or (C) Seller’s failure to cure by
the Closing Date (as it may be extended hereunder) any Objection which Seller
has previously elected to cure pursuant to a Seller’s Response.  In the event of such a termination, the
Deposit shall be returned to Buyer, and neither party shall have any further
rights or obligations hereunder except as provided in Sections 6.1, 9.3 and 9.9
below.  In addition, in the event Buyer
terminates this Agreement pursuant to the events listed in clause (ii) or
as set forth in the last sentence of Section 4.1(c), Buyer shall have the right
to recover from Seller all of the reasonable, verifiable, third-party out of pocket
costs incurred by Buyer in negotiating and entering into this Agreement, and
investigating the Property, not to exceed the Recovery Limit in the
aggregate.  If no such termination notice
is timely received by Seller

 

11

 

hereunder,
Buyer shall be deemed to have waived all such Objections in which event those
Objections shall become “Conditions of Title”
under Section 4.1(e).  If the Closing is
not consummated due to Buyer’s default hereunder, Buyer shall be responsible
for any title or escrow cancellation charges.

 

(e)           At the Closing,
Seller shall convey title to the Property to Buyer by deed in the form of Exhibit D attached hereto (the “Deed”) subject to no exceptions other than:

 

(i)            Interests of tenants
in possession under the Leases;

 

(ii)           Specific matters
created by or with the written consent of Buyer;

 

(iii)          Non-delinquent liens for
real estate taxes and assessments; and

 

(iv)          Any exceptions disclosed
by the Title Report and any Title Report Update which is approved or deemed
approved by Buyer in accordance with this Article IV above.

 

All of the foregoing exceptions shall be referred to
collectively as the “Conditions of Title.”  Subject to the terms and conditions contained
elsewhere in this Agreement, by acceptance of the Deed and the Closing of the
purchase and sale of the Property, (x) Buyer agrees that it shall acquire the
Property subject to any obligations of the owner of the Property from and after
the Closing set forth in the Conditions of Title, and (y) Buyer agrees that
Seller shall have conclusively satisfied its obligations with respect to title
to the Property.  The provisions of this
Section shall survive the Closing.

 

Section 4.2            Evidence of Title.

 

Delivery of title in accordance with the foregoing
shall be evidenced by the willingness (as reasonably determined by Buyer) of
the Title Company to issue, at Closing, its Owner’s ALTA Policy of Title
Insurance in the amount of the Purchase Price showing title to the Real
Property vested in Buyer, subject to the Conditions of Title (the “Title Policy”).  The
Title Policy may contain the endorsements set forth in Schedule 4.1(b) and
issuance of such endorsements shall be a condition to Buyer’s obligations
hereunder.  Buyer shall pay the costs for
all such endorsements.  Seller shall have
no obligation to provide any endorsements (except endorsements procured by
Seller to cure Objections Seller is required or elects to cure hereunder) or
any indemnity or agreement to the Title Company or Buyer to support the
issuance of the Title Policy except indemnities and agreements customarily
provided by sellers of commercial properties in the Chicago metropolitan area,
such as, without limitations, an affidavit and/or indemnity as to the existing
tenants of the Property and any ongoing construction work at the Property and
the absence of any claims or basis for claims for any mechanic’s, materialman’s
or similar liens.

 

12

 

ARTICLE V

RISK OF LOSS AND INSURANCE PROCEEDS

 

Section 5.1            Minor Loss.

 

Buyer shall be bound to purchase the Property for the
full Purchase Price as required by the terms hereof, without regard to the
occurrence or effect of any damage to the Property or destruction of any
improvements thereon or condemnation of any portion of the Property, provided
that:  (a) the cost to repair any such
damage or destruction does not exceed Two Hundred Fifty-Five Thousand and
no/100 Dollars ($255,000.00) in the estimate of an architect or contractor
selected by Seller and reasonably acceptable to Buyer or in the case of a
condemnation, the diminution in the value of the remaining Property as a result
of a partial condemnation is not material (as hereinafter defined) and (b) upon
the Closing, there shall be a credit against the Purchase Price due hereunder
equal to the amount of any insurance proceeds or condemnation awards collected
by Seller as a result of any such damage or destruction or condemnation, plus
the amount of any insurance deductible, less any sums reasonably expended by Seller toward the collection of such
proceeds or awards or to protect the Property from further damage. In addition,
if any applicable laws or provisions of any Leases or other contractual
obligations of Seller require Seller to commence restoration or repair of the
Property prior to the Closing, Seller and Buyer shall negotiate reasonably and
in good faith and agree upon the procedure, plans and specifications,
contractor and construction contract, and schedule for the making of such restoration
or repair of the Property, in which event the sums thereafter expended by
Seller in making such restoration or repair of the Property shall be deducted
from the credit to Buyer against the Purchase Price at the Closing.  If the consent or approval of any lender then
holding a mortgage that encumbers the Property is required with respect to the
plans and specifications, contractor, construction contract and/or schedule for
making such restoration or repair of the Property, Seller shall be responsible
for obtaining such consent or approval. 
If Seller is not required by any applicable laws or provisions of any
Leases or other contractual obligations of Seller to commence restoration or
repair of the Property prior to the Closing, then Seller shall not make any
restoration or repair of the Property without Buyer’s prior written consent,
which Buyer may withhold in its sole and absolute discretion.  If the proceeds or awards have not been
collected as of the Closing, then such proceeds or awards shall be assigned to
Buyer, except to the extent needed to reimburse Seller for sums expended to
collect such proceeds or awards or to repair or restore the Property as set
forth above and Seller shall retain the rights to such proceeds and awards to
such extent.

 

Section 5.2            Major Loss.

 

If the cost to repair the damage or destruction as
specified above equals or exceeds Two Hundred Fifty-Five Thousand and no/100
Dollars ($255,000.00) in the estimate of an architect or contractor selected by
Seller and reasonably acceptable to Buyer or the diminution in the value of the
remaining Property as a result of a condemnation is material, then Buyer may,
at its option to be exercised within five (5) business days of Seller’s notice
of the occurrence of the damage or destruction or the commencement of
condemnation proceedings, either terminate this Agreement or consummate the
purchase for the full Purchase Price as required by the terms hereof.  If Buyer elects to terminate this Agreement
by delivering written notice thereof to Seller

 

13

 

or fails to give Seller
notice within such five (5) business day period that Buyer will proceed with
the purchase, then this Agreement shall terminate, the Deposit shall be
returned to Buyer and neither party shall have any further rights or
obligations hereunder except as provided in Sections 6.1, 9.3 and 9.9
below.  If Buyer elects to proceed with
the purchase, then upon the Closing, there shall be a credit against the
Purchase Price due hereunder equal to the amount of any insurance proceeds or
condemnation awards collected by Seller as a result of any such damage or
destruction or condemnation, plus the amount of any insurance deductible, less
any sums reasonably expended by
Seller toward the collection of such proceeds or awards or to protect the
Property from further damage.  In
addition, if any applicable laws or provisions of any Leases or other
contractual obligations of Seller require Seller to commence restoration or
repair of the Property prior to the Closing, Seller and Buyer shall negotiate
reasonably and in good faith and agree upon the procedure, plans and
specifications, contractor and construction contract, and schedule for the
making of such restoration or repair of the Property, in which event the sums
thereafter expended by Seller in making such restoration or repair of the
Property shall be deducted from the credit to Buyer against the Purchase Price
at the Closing.  If the consent or approval
of any lender then holding a mortgage that encumbers the Property is required
with respect to the plans and specifications, contractor, construction contract
and/or schedule for making such restoration or repair of the Property, Seller
shall be responsible for obtaining such consent or approval.  If Seller is not required by any applicable
laws or provisions of any Leases or other contractual obligations of Seller to
commence restoration or repair of the Property prior to the Closing, then
Seller shall not make any restoration or repair of the Property without Buyer’s
prior written consent, which Buyer may withhold in its sole and absolute
discretion.  If the proceeds or awards
have not been collected as of the Closing, then such proceeds or awards shall
be assigned to Buyer, except to the extent needed to reimburse Seller for sums
expended to collect such proceeds or awards or to repair or restore the
Property as set forth above and Seller shall retain the rights to such proceeds
and awards to such extent at Closing.  A
condemnation shall be deemed material if any portion of any net rentable area
of the Property or any parking is taken, or the existing access to the Property
is materially and adversely affected, permanently, or for any period longer
than sixty (60) days, or if such condemnation shall entitle any tenant under
the Leases to terminate its lease.

 

ARTICLE VI

BROKERS AND EXPENSES

 

Section 6.1            Brokers.

 

Each party represents and warrants to the other that
it has not contracted with or engaged any broker or finder in connection with
this transaction except for CB Richard Ellis, Inc. (“Seller’s
Broker”), which has been engaged by Seller.  At Closing, Seller shall pay the commission
due, if any, to Seller’s Broker, which shall be paid pursuant to a separate
agreement between Seller and Seller’s Broker. 
If any other person brings a claim for a commission or finder’s fee
based upon any contract with or engagement by Buyer or Seller, then the party
through whom such person makes his claim shall defend the other party (the “Indemnified Party”) from such claim, and shall indemnify the
Indemnified Party and hold the Indemnified Party harmless from any and all
costs, damages, claims, liabilities or expenses (including without limitation,
court costs and reasonable attorneys’ fees and disbursements) incurred by the

 

14

 

Indemnified Party in
defending against the claim.  The
provisions of this Section 6.1 shall survive the Closing or, if the purchase
and sale is not consummated, any termination of this Agreement.

 

Section 6.2            Expenses.

 

Except as provided in Article IV above, and Sections
8.5(a)(vi) and 9.5 below, each party hereto shall pay its own expenses incurred
in connection with this Agreement and the transactions contemplated hereby.

 

ARTICLE VII

LEASES AND OTHER AGREEMENTS

 

Section 7.1            Buyer’s Approval of
New Leases and Agreements Affecting the Property.

 

Between the Effective Date and the Closing, Seller
shall continue to lease the Property in the same manner as before the making of
this Agreement, the same as though Seller were retaining the Property provided
that Seller shall not enter into any new Lease or other agreement affecting the
Property, or modify or terminate any existing Lease or other agreement
affecting the Property, which will be binding on the Property or Buyer after
Closing, except as required under any Lease and except for agreements which are
terminable on no more than sixty (60) days’ notice without payment of any
penalty or fee or other cost to Seller or Buyer, without first obtaining Buyer’s
approval of the proposed action, which Buyer may withhold in its sole
discretion.  If Buyer fails to give
Seller notice of its approval or disapproval of any such proposed action
requiring its approval under this Section 7.1 within three (3) business days
after Buyer receives Seller’s notice of Seller’s desire to take such action,
then Buyer shall be deemed to have given its approval.  Any new Lease or other agreement or amendment
shall be on Seller’s standard forms for such documents.  

 

Section 7.2            Tenant Improvement
Costs, Leasing Commissions and Concessions.

 

With respect to any new Lease or Lease modification
entered into by Seller between October 1, 2006 and the Closing Date, and with
respect to any renewal or extension of any Lease, whether through the exercise
of an option or otherwise, occurring between such date and the Closing Date,
the costs of all tenant improvement work required to be paid or provided by the
landlord, leasing commissions, grants of any free rent period or other
concessions to the tenant shall be prorated over the term of the lease, renewal
or extension.  Seller’s share of such
costs shall be based on the portion of the lease term, renewal or extension, as
the case may be, occurring prior to Closing, which amount shall be a credit
against the Purchase Price, and Buyer shall be responsible for the remainder of
such costs.  Buyer shall reimburse Seller
for all such costs incurred by Seller to the extent Buyer is obligated therefor
pursuant to the provisions hereof. 
Pursuant to the Assignment of Leases Buyer shall assume any then
outstanding obligations with respect to such tenant improvements, leasing
commissions and concessions.  The
provisions of this Section shall survive the Closing.

 

15

 

Section 7.3            Tenant Notices.

 

At the Closing, Seller shall furnish Buyer with a
signed notice to be given to each tenant of the Property.  The notice shall disclose that the Property
has been sold to Buyer, that, after the Closing, all rents should be paid to
Buyer and that Buyer shall be responsible for the entire tenant’s security
deposit.  The form of the notice shall be
otherwise reasonably acceptable to the parties.

 

Section 7.4            Maintenance of
Improvements and Operation of Property; Removal of Tangible Personal Property.

 

Seller agrees to keep its current property insurance
covering the Property in effect until the Closing, Seller shall maintain all
Improvements in their present condition (ordinary wear and tear and casualty
excepted), and shall operate and manage the Property in a manner consistent
with Seller’s practices in effect prior to the Effective Date, provided that
Seller shall in no event be obligated to make any capital expenditures, except
for those that are required to comply with any of the Leases or any applicable
laws.  Seller shall not remove any
Tangible Personal Property, except as may be required for necessary repair or
replacement, and replacement shall be of substantially equal or better quality
and quantity as the removed item of Tangible Personal Property.

 

Section 7.5            Intentionally Omitted.

 

Section 7.6            Service Contracts.

 

All contracts pertaining to the operation of the
Property, including all management, leasing, service and maintenance agreements
and equipment leases in effect for the Property are hereinafter referred to as
the “Service Contracts”. Seller is not
assigning to Buyer, and Buyer is not assuming from Seller, any of the Service
Contracts, all of which Seller shall cancel effective as of the Closing. 

 

Section 7.7            Certain Repairs

 

Seller agrees to complete the repair work described in
Schedule 7.7 attached hereto and made a part hereof, at its expense, in a good
and workmanlike manner and in accordance with all laws on or prior to Closing.
Seller agrees to assign all assignable warranties with respect to such work to
Buyer at Closing.

 

ARTICLE VIII

CLOSING AND ESCROW

 

Section 8.1            Intentionally Omitted.

 

Section 8.2            Closing.

 

The Closing hereunder shall be held and delivery of
all items to be made at the Closing under the terms of this Agreement and
pursuant to escrow instructions using the Title Company’s

 

16

 

usual form of deed and
money escrow, modified as necessary to conform to the terms of this Agreement,
at the offices of the Title Company or as otherwise mutually agreed commencing
at 11:00 a.m. local time on February 1, 2007, or such other date and time as
Buyer and Seller may mutually agree upon in writing (the “Closing Date”).

 

Section 8.3            Deposit of Documents.

 

(a)           At or before the
Closing, Seller shall deposit into escrow the following items:

 

(1)           the duly executed
and acknowledged Deed in the form attached hereto as Exhibit D conveying the Real Property to Buyer subject to the
Conditions of Title;

 

(2)           four (4) duly
executed counterparts of the Bill of Sale in the form attached hereto as Exhibit E (the “Bill of Sale”);

 

(3)           four (4) duly
executed counterparts of an Assignment and Assumption of Leases in the form
attached hereto as Exhibit F
pursuant to the terms of which Buyer shall assume all of Seller’s obligations
under the Leases from and after the Closing Date (the “Assignment of Leases”);

 

(4)           four (4) duly
executed counterparts of an Assignment of Intangible Property in the form
attached hereto as Exhibit G
pursuant to the terms of which Buyer shall assume all of Seller’s obligations
from and after the Closing Date under any documents and agreements evidencing
the Intangible Property (the “Assignment of
Intangible Property”); and

 

(5)           an affidavit
pursuant to Section 1445(b)(2) of the Code, and on which Buyer is entitled to
rely, that Seller is not a “foreign person” within the meaning of Section
1445(f)(3) of the Code.

 

(b)           At or before
Closing, Buyer shall deposit into escrow the following items:

 

(1)           immediately
available funds necessary to close this transaction, including, without
limitation, the Purchase Price (less the Deposit and interest thereon net of
investment fees, if any, and less the amount, if any, deposited in escrow
pursuant to the terms of Section 9.20) and funds sufficient to pay Buyer’s
closing costs and share of prorations hereunder;

 

(2)           four (4) duly
executed counterparts of the Bill of Sale; and

 

(3)           four (4) duly
executed counterparts of the Assignment of Leases; and

 

(4)           four (4) duly
executed counterparts of the Assignment of Intangible Property.

 

(c)           At least one (1)
business days prior to Closing, Seller and Buyer shall sign and deliver to the
Title Company a closing statement prepared by the Title Company, which may

 

17

 

be signed in
facsimile or electronic mail counterparts. 
Seller and Buyer shall each execute and deposit such transfer tax
declarations and such other instruments as are reasonably required by the Title
Company or otherwise required to close the escrow and consummate the
acquisition of the Property in accordance with the terms hereof.  Seller and Buyer hereby designate Title
Company as the “Reporting Person”
for the transaction pursuant to Section 6045(e) of the Code and the regulations
promulgated thereunder and agree to execute such documentation as is reasonably
necessary to effectuate such designation.

 

(d)           On the Closing
Date, Seller shall deliver or make available at the Property to Buyer:
originals of the Leases to the extent in Seller’s possession, or copies of any
Leases not in Seller’s possession together with an affidavit from Seller as to
such copies being true and complete copies of the applicable Lease(s), copies
of the tenant correspondence files and originals of other Due Diligence
Materials only copies of which had been previously delivered to Buyer, and
originals of any other items which Seller was required to furnish Buyer copies
of or make available at the Property pursuant to Sections 2.1(b) or (e) above,
to the extent in Seller’s possession, including Seller’s general ledger but
excluding other internal books or records which shall be retained by
Seller.  Seller shall deliver possession
of the Property to Buyer as required hereunder. 
Seller shall deliver to Buyer or make available at the Property on the
Closing Date keys to the Property as are in Seller’s possession to the
knowledge of Seller.

 

Section 8.4            Estoppel Certificates.

 

(a)           If in accordance
with Article II of this Agreement Buyer elects to proceed with the purchase of
the Property, then Seller shall use commercially reasonable efforts to obtain
estoppel certificates from each tenant of the Property substantially in the
form attached hereto as Exhibit H
or, if a tenant’s lease requires a different form, in the form required by the
tenant’s lease, or as otherwise provided in this paragraph below.  It shall be a condition to Buyer’s obligation
to close the sale and purchase of the Property that on or before the Closing,
Buyer receives a signed estoppel certificate substantially in such form from
tenants occupying at least seventy-five percent (75%) of the area of the
Property and the Other Property as hereinafter defined actually rented to
tenants (the “Estoppel Threshold”)
which must include estoppel certificates from all tenants of the Property and
the Other Property who lease at least 10,000 sq. ft. in the Property or
the Other Property.  All estoppel
certificates shall be dated no more than forty-five (45) days prior to the
Closing Date.

 

(b)           If Seller is unable
to obtain and deliver sufficient tenant estoppel certificates as required under
Section 8.4(a), or if the certificates received by Buyer contain material
information or omissions unacceptable to Buyer in its reasonable discretion and
Buyer objects thereto by written notice to Seller within two (2) business days
after receipt by Buyer of the objectionable estoppel, but in any event on or
before the Closing Date, then Seller will not be in default by reason thereof,
and Seller may elect to extend the Closing Date by up to ten (10) business days
in order to satisfy the requirement. A “knowledge” qualifier in paragraph 7 of
Exhibit H shall be acceptable to the Buyer. 
If Seller still cannot satisfy the requirement at the end of such
extended period, then Buyer may, by written notice given to Seller before the
Closing, elect to terminate this Agreement and receive a refund of the Deposit
or waive said condition.  If Buyer so elects
to terminate this Agreement, neither party shall have any further rights or
obligations hereunder except as provided in Section 6.1 above and Sections 9.3
and 9.9

 

18

 

below.  If no such notice is delivered by Buyer,
Buyer shall be deemed to have waived such condition.

 

Section 8.5            Prorations.

 

(a)           (i)            Rents, including, without limitation,
percentage rents, if any, and any additional charges and expenses payable by
tenants under Leases, all as and when actually collected; water, sewer and utility
charges; amounts payable under any agreements or documents that are intended to
remain in effect after the Closing; annual permits and/or inspection fees
(calculated on the basis of the period covered); and any other expenses of the
operation and maintenance of the Property (including, without limitation,
expenses prepaid by Seller and expenses already paid by Seller but which are
being amortized over time by Seller and with respect to which Seller shall
receive a credit at Closing in the amount of the prepaid or unamortized portion
thereof), shall all be prorated as of 12:01 a.m. on the date of Closing (i.e.,
Buyer is entitled to the income and responsible for the expenses of the day of
Closing), on the basis of a 365-day year. 
Buyer shall pay or reimburse Seller for the tenant improvement costs,
leasing commissions, free rent and other concessions, as provided in Section
7.2 and Seller shall credit Buyer for the tenant improvements costs, leasing
commissions, free rent and other concessions, as provided in Section 7.2.  Anything herein contained to the contrary
notwithstanding, there shall be no proration of real property taxes for the
years 2006 or 2007, payable in 2007 and 2008, respectively.  Buyer shall purchase the Property subject to
the lien of such real property taxes, shall pay such real property taxes when
due with no recourse to Seller.  In
addition, Buyer agrees not to invoice, or attempt to collect from, any tenant
of the Property who is a tenant under a Lease where Seller (rather than some
prior owner of the Property) is the landlord for 2006 real property taxes
payable in 2007.  Seller has furnished
the tenants under the Leases with the 2007 budget of expenses and the invoices
submitted by Seller to the tenants under the Leases for rent and other amounts
due Seller on January 1, 2007 shall reflect the expense shown in the 2007
budget.

 

(ii)           All rents collected
after the Closing shall be applied and paid as provided in this Section
8.5(a).  If a tenant shall specifically
designate a payment as being attributable to a specific period of time or for a
specific purpose, including, without limitation, for operating expenses or real
estate tax payments which were not paid or were underpaid by such tenant or for
reimbursement for work performed by Seller on the tenant’s premises, such
payment shall be so applied.  If there is
no such designation, any payment received from a tenant after Closing shall be
deemed a payment of rent due after the Closing until the tenant is current on rents
and sums due under the applicable Lease on or after the Closing, and then such
payments shall be paid to Seller to the extent of any rent or other sums owing
to Seller for periods prior to Closing. 
Buyer shall use reasonable

 

19

 

efforts to collect such rents and other sums
owing to Seller, but shall have no obligation to threaten or pursue any
eviction or collection proceedings against any tenant.  Seller retains the right to collect any such
rents and other sums (including payments due Seller on account of the
reconciliation of 2006 expenses as provided in Section 8.5(a)(iii)) from
tenants after Closing; provided, however, that Seller shall have no right to
cause any such tenant to be evicted or to threaten any tenant with eviction or
to exercise any other landlord remedy against such tenant other than to sue for
collection.

 

(iii)          Reconciliation of
insurance charges and other expenses (including taxes) owed by tenants under
Leases for 2006 shall be prepared by Seller in accordance with the requirements
set forth in the Leases.  Seller agrees
to promptly pay what is due tenants by reason of such reconciliation and shall
be entitled to all amounts due from tenants on account of such reconciliation
for 2006. Reconciliation of insurance charges and other expenses owed by
tenants under Leases for 2007 shall be prepared by Buyer in accordance with the
requirements set forth in the Leases. 
Buyer agrees to promptly pay what is due tenants by reason of such
reconciliation and shall be entitled to all amounts due from tenants on account
of such reconciliation for 2007.  There
shall be no such reconciliation between Seller and Buyer with respect to 2007
expenses and Buyer shall be solely responsible to tenants on account of
reconciliation of 2007 expenses and shall be solely entitled to any payments
owed by tenants on account thereof.

 

(iv)          The amount of any cash
security deposits held by Seller under Leases shall be credited against the
Purchase Price (and Seller shall be entitled to retain such cash security
deposits).  Seller shall cause all
necessary documents (as reasonably determined by Buyer) and fees necessary to
transfer security deposits held in the form of letters of credit to be deposited
by Seller in escrow on or before the date of Closing, to be delivered to Buyer
upon Closing.  Seller agrees to
co-operate with Buyer post-Closing to effectuate the transfer of security
deposits held in the form of letters of credit. 
Seller shall receive credits at Closing for the amount of any assignable
utility or other deposits with respect to the Property.  Buyer shall cause all utilities to be
transferred into Buyer’s name and account at the time of Closing.

 

(v)           Seller and Buyer hereby
agree that if any of the aforesaid prorations and credits cannot be calculated
accurately on the Closing Date or in the case of rents or other charges payable
by tenants, such amount have not been collected, then the same shall be
calculated as soon as reasonably practicable after the Closing Date or the date
such amounts have been collected, and either party owing the other party a sum
of money based on such subsequent proration(s) or credits shall pay said sum to
the other party within thirty (30) days thereafter.  Any amounts not paid within such

 

20

 

thirty (30) day period shall bear interest
from the date actually received by the payor until paid at the greater of (i)
the rate of ten percent (10%) per annum or (ii) the prime rate (or base rate)
reported from time to time in the “Money Rates” column or section of The
Wall Street Journal as being the base rate on corporate loans at larger
United States money center commercial banks plus two (2) percent.  Upon request of either party, the parties
shall provide a detailed and accurate written statement signed by such party
confirming the payments received by such party from tenants from and after
Closing and to the manner in which such payments were applied, and shall make
their books and records available for inspection by the other party during
ordinary business hours upon reasonable advance notice.

 

(vi)          Seller agrees to pay (i)
1⁄2 the Title Company’s escrow and/or closing fees (including 1⁄2 of the so-called
New York Style Closing Fee), (ii) the cost of the Title Report in the amount of
the Purchase Price, including the cost of Extended Coverage over all five
general exceptions and including the cost of any endorsements procured by
Seller to cure any Objections which Seller is obligated or permitted (and elects
to) cure hereunder, (iii) state and county transfer taxes and (iv) all
recording fees and other costs as provided herein with respect to clearing
Seller’s title. Buyer agrees to pay (i) 1⁄2 the Title Company’s escrow and/or
closing fees (including 1⁄2 of the so-called New York Style Closing Fee, (ii) the
cost of title insurance beyond the costs to be paid by the Seller, including
the cost of any endorsements to the required by Buyer other than extended
coverage, (iii) all recording fees and taxes with respect to the Deed, (iv) all
costs of Buyer’s physical inspections of the Property (environmental,
engineering and so forth) and other due diligence activities, (v) all municipal
transfer taxes, payable in connection with this transaction, and (vi) all costs
of Survey.   Except as otherwise
specifically provided for in this Agreement, each party is responsible for its
own attorneys’ and other professional fees. 
All other closing costs shall be allocated in accordance with the
prevailing local custom.

 

(b)           The parties will
execute and deliver any required transfer or other similar tax declarations to
the appropriate governmental entity at Closing. 

 

(c)           The provisions of
this Section 8.5 shall survive the Closing.

 

ARTICLE IX

MISCELLANEOUS

 

Section 9.1            Notices.

 

Any notices required or permitted to be given
hereunder shall be given in writing and shall be delivered (a) in person, (b)
by certified mail, postage prepaid, return receipt requested,

 

21

 

(c) by facsimile transmission
with written evidence confirming transmission, (d) by electronic mail, or (e)
by a commercial overnight courier that guarantees next day delivery and
provides a receipt, and such notices shall be addressed as follows:

 

	
  To Buyer:

  	
   

  	
  Alliance Commercial Partners, LLC

  165 South Union Boulevard, Suite 510

  Lakewood, CO 80228

  Attention: Mr. Douglas McCormick

  Fax No.: (303) 986-7990

  E-Mail Address: dougm@alliancecp.com

  
	
   

  	
   

  	
   

  
	
  with a copy to:

  	
   

  	
  Holme Roberts & Owen LLP

  1700 Lincoln Street

  Suite 4100

  Denver, CO 80203-4541

  Attention: Mr. Bruce L. Likoff

  Fax No.: (303) 866-0345

  E-Mail Address: bruce.likoff@hro.com

  
	
   

  	
   

  	
   

  
	
  To Seller:

  	
   

  	
  Washington Commons Phase III Limited Partnership

  c/o Hamilton Partners

  1901 Butterfield Road

  Suite 270

  Downers Grove, IL 60515

  Attention: Mr. Gary Mori

  Fax No.: (630) 719-5570

  E-Mail Address: gmori@hamiltonpartners.com

  
	
   

  	
   

  	
   

  
	
  with a copy to:

  	
   

  	
  Seyfarth Shaw LLP

  131 South Dearborn Street, Suite 2400

  Chicago, IL 60603

  Attention: Mr. Michael D. Miselman

  Fax No.: (312) 460-7635

  E-Mail Address: mmiselman@seyfarth.com

  

 

or to such other address as either party may from time
to time specify in writing to the other party. 
Any notice shall be effective only upon receipt or the date of written
evidence that acceptance of delivery has been refused.

 

Section 9.2            Entire Agreement.

 

This Agreement, together with the Exhibits and
schedules hereto, contains all representations, warranties and covenants made
by Buyer and Seller and constitutes the entire understanding between the
parties hereto with respect to the subject matter hereof.  Any prior correspondence, memoranda or
agreements are replaced in total by this Agreement together with the Exhibits
and schedules hereto.

 

22

 

Section 9.3            Entry and Indemnity.

 

In connection with any entry by Buyer, or its agents,
employees or contractors onto the Property, Buyer shall give Seller reasonable
advance notice of such entry and shall conduct such entry and any inspections
in connection therewith (a) during normal business hours, (b) using all
commercially reasonable steps in order to minimize interference with Seller’s
business and the business of Seller’s tenants, and (c) in compliance with all
applicable laws.  Without limiting the
foregoing, prior to any entry to perform any on-site testing, including but not
limited to any borings, drillings or samplings, Buyer shall give Seller written
notice thereof, including the identity of the company or persons who will
perform such testing and the proposed scope and methodology of the
testing.  Seller shall approve or
disapprove, in Seller’s sole but reasonable, discretion, the proposed testing
within three (3) business days after receipt of such notice.  If Seller fails to respond within such three
(3) business day period, Seller shall be deemed to have disapproved the
proposed testing.  If Buyer or its
agents, employees or contractors take any sample from the Property in
connection with any such approved testing, Buyer shall provide to Seller a
portion of such sample being tested to allow Seller, if it so chooses, to
perform its own testing.  Buyer shall
permit Seller or its representative to be present to observe any testing or
other inspection or due diligence review performed on or at the Property,
provided that Buyer shall not be required to postpone any testing or other
inspection or due diligence review if Seller is unable or unwilling to provide
a representative to be present.  If Buyer
terminates this Agreement, except due to Seller’s default under this Agreement,
Buyer shall, upon the request of Seller, promptly deliver to Seller copies of
any reports relating to any testing or other inspection of the Property
performed by Buyer or its agents, representatives, employees, contractors or
consultants.  Notwithstanding anything to
the contrary contained herein, Buyer shall not contact any governmental
authority or any tenant without allowing Seller, at Seller’s election, to have
a representative participate in any telephone or other contact made by Buyer to
a governmental authority or tenant and to be present at any meeting by Buyer
with a governmental authority or tenant, provided that, Buyer shall not be
required to postpone any such contact if Seller is unable or unwilling to
provide a representative.  Buyer shall
maintain, and shall assure that its contractors maintain, public liability and
property damage insurance in a coverage amount not less than Two Million
Dollars ($2,000,000.00), insuring against liability of Buyer and its agents,
employees or contractors, arising out of any entry or inspections of the
Property pursuant to the provisions hereof, and Buyer shall provide Seller with
evidence of such insurance coverage upon request by Seller.  Buyer shall indemnify and hold Seller
harmless from and against any costs, damages, liabilities, losses, expenses,
liens or claims (including, without limitation, court costs and reasonable
attorneys’ fees and disbursements) arising out of or relating to any entry on
the Property by Buyer, its agents, employees or contractors in the course of
performing the inspections, testings or inquiries provided for in this
Agreement, including, without limitation, any release of Hazardous Materials or
any damage to the Property; provided that Buyer shall not be liable to Seller
solely as a result of the discovery by Buyer of a pre-existing condition on the
Property to the extent the activities of Buyer, its agents, representatives,
employees, contractors or consultants do not exacerbate the condition.  The provisions of this Section 9.3 shall be
in addition to any access or indemnity agreement previously executed by Buyer
in connection with the Property; provided that in the event of any
inconsistency between this Section 9.3 and such other agreement, the provisions
of this Section 9.3 shall govern.  The
foregoing indemnity shall survive for a period of twelve (12) months beyond the
Closing, or, if the sale is not consummated, for a period of twelve (12) months
beyond the termination of this Agreement.

 

23

 

Any claim for such
indemnity that Seller may have at any time, which is not specifically asserted
by written notice to Buyer within such twelve (12) month period, shall not be
valid or effective, and Buyer shall have no liability to Seller with respect
thereto.  Buyer’s right of entry, as
provided in this Section 9.3, shall continue up through the date of Closing.

 

Section 9.4            Time.

 

Time is of the essence in the performance of each of
the parties’ respective obligations contained herein.

 

Section 9.5            Attorneys’ Fees.

 

If either party hereto fails to perform any of its
obligations under this Agreement or if any dispute arises between the parties
hereto concerning the meaning or interpretation of any provision of this
Agreement, whether prior to or after Closing, or if any party defaults in
payment of its post-Closing obligations under this Agreement, and either party
shall commence litigation in connection therewith, then the defaulting party or
the party not prevailing in such dispute, as the case may be, shall pay any and
all costs and expenses incurred by the other party on account of such default
and/or in enforcing or establishing its rights hereunder, including, without
limitation, court costs and reasonable attorneys’ fees and disbursements.

 

Section 9.6            Assignment.

 

Buyer’s rights and obligations hereunder shall not be
assignable without the prior written consent of Seller in Seller’s sole
discretion.  Notwithstanding the
foregoing, Buyer shall have the right, without the necessity of obtaining
Seller’s consent but with prior written notice to Seller, to assign its right,
title and interest in and to this Agreement to a separate account, or an entity
owned by a separate account, of Buyer, or an entity controlling, controlled by
or under common with the Buyer, at any time before the Closing Date.  Buyer shall in no event be released from any
of its obligations or liabilities hereunder in connection with any
assignment.  Seller shall not assign or
otherwise transfer its interest under this Agreement and any such assignment or
transfer shall be null and void and shall not confer any rights upon the
purported assignee or transferee.

 

Section 9.7            Counterparts.

 

This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which taken
together shall constitute one and the same instrument.

 

Section 9.8            Governing Law.

 

This Agreement shall be governed by and construed in
accordance with the laws of the State in which the Real Property is located.

 

Section 9.9            Confidentiality and
Return of Documents.

 

Buyer and Seller shall each maintain as confidential
this Agreement, the terms hereof and the transactions contemplated hereby.  Buyer shall maintain as confidential the Due
Diligence Materials and any reports or studies prepared for Buyer about the
Property, and shall not disclose

 

24

 

such information to any
third party.  Except as may be required
by law, Buyer will not divulge any such information to other persons or
entities including, without limitation, appraisers, real estate brokers, or
competitors of Seller.  Notwithstanding
the foregoing, Buyer shall have the right to disclose information with respect
to the Property to its officers, directors, employees, attorneys, accountants,
environmental auditors, engineers, potential lenders, and permitted assignees
under this Agreement and other consultants to the extent necessary for Buyer to
evaluate its acquisition of the Property provided that Seller inform all such
persons that such information is confidential and such persons have agreed to
do so.  Buyer shall be liable to Seller
for any damages Seller may suffer by reason of the failure of any such person
to keep such information confidential. 
If Buyer acquires the Property from Seller, either party shall have the
right, subsequent to the Closing of such acquisition, to publicize the
transaction (other than the parties to, or the specific economics of, the
transaction) in whatever manner it deems appropriate; provided that any press
release or other public disclosure regarding this Agreement or the transactions
contemplated herein, and the wording of same, must be approved in advance by
the other parties.  The provisions of
this Section shall survive any termination of this Agreement, but shall
terminate at Closing if Closing occurs, except with respect to the issuance of
any press release or other public disclosure describing the transactions
contemplated herein.  In the event the
transaction contemplated by this Agreement does not close as provided herein,
upon the request of Seller, Buyer shall promptly return to Seller all Due
Diligence Materials provided to Buyer by Seller and, if such termination is not
due to Seller’s default under this Agreement, copies of any reports concerning
the physical condition of the Property obtained by Buyer (but the delivery of
any such reports by Buyer shall not be an assignment of any rights of Buyer
with respect to such reports or the making of any representation or warranty by
Buyer concerning such reports).

 

Section 9.10         Interpretation of
Agreement.

 

The article, section and other headings of this
Agreement are for convenience of reference only and shall not be construed to
affect the meaning of any provision contained herein.  Where the context so requires, the use of the
singular shall include the plural and vice versa and the use of the masculine
shall include the feminine and the neuter. 
The term “person” shall include any
individual, partnership, joint venture, corporation, trust, unincorporated
association, any other entity and any government or any department or agency
thereof, whether acting in an individual, fiduciary or other capacity.

 

Section 9.11         Limited Liability.

 

The obligations of Seller under this Agreement and
under all of the Other Documents are intended to be binding only on the
property of Seller and shall not be personally binding upon, nor shall any
resort be had to, the private properties of any Seller Related Parties.

 

Section 9.12         Amendments.

 

This Agreement may be amended or modified only by a
written instrument signed by Buyer and Seller.

 

25

 

Section 9.13         No Recording.

 

Neither this Agreement or any memorandum or short form
thereof may be recorded by Buyer, except that this Agreement may be recorded as
may be necessary in connection with the enforcement of Buyer’s rights under
this Agreement due to Seller’s default under this Agreement.

 

Section 9.14         Drafts Not an Offer to
Enter into a Legally Binding Contract.

 

The parties hereto agree that the submission of a
draft of this Agreement by one party to another is not intended by either party
to be an offer to enter into a legally binding contract with respect to the
purchase and sale of the Property.  The
parties shall be legally bound with respect to the purchase and sale of the
Property pursuant to the terms of this Agreement only if and when the parties
have been able to negotiate all of the terms and provisions of this Agreement
in a manner acceptable to each of the parties in their respective sole
discretion, and both Seller and Buyer have fully executed and delivered to each
other a counterpart of this Agreement (or a copy by facsimile transmission)
(the “Effective Date”).

 

Section 9.15         Intentionally Omitted.

 

Section 9.16         No Partnership.

 

The relationship of the parties hereto is solely that
of Seller and Buyer with respect to the Property and no joint venture or other
partnership exists between the parties hereto. 
Neither party has any fiduciary relationship hereunder to the other.

 

Section 9.17         No Third Party
Beneficiary.

 

The provisions of this Agreement are not intended to
benefit any third parties.

 

Section 9.18         Buyer’s Condition
Precedent.

 

This Agreement shall not be binding or enforceable against
either of the parties hereto unless, concurrently with the execution of this
Agreement Buyer has entered into a contract or contracts satisfactory to it for
the purchase of real estate adjoining the Real Property located at 750-900
Diehl Road and 600-700 Diehl Road, Naperville, Illinois (the “Other Property”), owned by NewTower Trust Company, a
Maryland chartered trust company, formerly known as Riggs National Bank of
Washington D.C., as Trustee of the NewTower Trust Company Multi-Employer
Property Trust, a collective investment fund operating under 12 C.F.R. Section
9.18 and Washington Commons Phase II Limited Partnership, an Illinois limited
partnership, respectively (whether one or more contracts, the “Other Contract”). Buyer shall not be required to consummate
the transactions contemplated by this Agreement, and Buyer may terminate this
Agreement by written notice to Seller, unless Buyer has also consummated the
transactions contemplated by the Other Contract.  Provided, however, that Buyer shall be
required to consummate the transactions contemplated by this Agreement if the
reason the transactions contemplated by the Other Contract do not close is
Buyer’s default under the Other Contract. 
A default by the sellers under the Other Contract shall not be a default
by Seller herein and a default by Buyer under the Other Contract shall not be a
default by Buyer herein.  If Buyer

 

26

 

terminates this Agreement
pursuant to this Section 9.18, the Deposit shall be returned promptly to Buyer,
and neither party shall have any further rights or obligations hereunder except
as provided in Sections 6.1, 9.3 and 9.9 above.

 

Section 9.19         Limitation on Liability.

 

Notwithstanding anything to the contrary contained
herein, after the Closing: (a) the maximum aggregate liability of Seller, and
the maximum aggregate amount which may be awarded to and collected by Buyer
(including, without limitation, for any breach of any representation, warranty
and/or covenant by Seller) under this Agreement or any documents executed
pursuant hereto or in connection herewith, including, without limitation, the
Deed, the Bill of Sale, the Assignment of Leases and Assignment of Warranties
and other Intangible Property (collectively, the “Other
Documents”, shall under no circumstances whatsoever exceed Five
Hundred Thousand Dollars ($500,000.00); 
and (b) no claim by Buyer alleging a breach by Seller of any
representation, warranty and/or covenant of Seller contained herein or in any
of the Other Documents may be made, and Seller shall not be liable for any
judgment in any action based upon any such claim, unless and until such claim,
either alone or together with any other claims by Buyer alleging a breach by
Seller of any such representation, warranty and/or covenant is for an aggregate
amount in excess of Twenty-Five Thousand Dollars ($25,000) (the “Floor Amount”), in which event Seller’s liability respecting
any final judgment concerning such claim or claims shall be for the entire
amount thereof, subject to the limitation set forth in clause (a) above;
provided, however, that if any such final judgment is for an amount that is
less than or equal to the Floor Amount, then Seller shall have no liability
with respect thereto.

 

Section 9.20         Illinois Bulk Sales.

 

At lease five (5) days prior to the Closing, Seller
shall deliver to Buyer evidence reasonably acceptable to Buyer that the sale of
the Property to Buyer hereunder is not subject to, and does not subject Buyer
to liability under 35 ILCS 5/902(d) or 35 ILCS 120/5j (herein collectively
referred to as the “Act”) and that
no more than forty (40) days prior to the Closing, Seller shall have notified
the Illinois Department of Revenue (herein referred to as the “Department”) of the intended sale and provided the
Department with all other information required under the Act, including,
without limitation, a copy of this Agreement, and required by the Department to
make a determination of how much the Seller owes to the Department as provided
in the Act, if anything. Seller shall promptly provided Buyer with a copy of
such notice to the Department and with copies of all additional correspondence
to and from the Department related thereto. . 
Seller agrees that Buyer may, at the Closing, deduct and withhold from
the proceeds that are due Seller the amount necessary to comply with the
withholding requirements imposed by the Act as estimated or determined by the
Illinois Department of Revenue.  Buyer
shall deposit the amount so withheld in a separate escrow at Seller’s expense
with the Title Company, with such escrow to contain terms and conditions
complying with the Act and mutually satisfactory to Seller and Buyer. Buyer’s
FEIN is 06-1761767.

 

Section 9.21         Calculation of Time
Periods.

 

Unless otherwise specified, in computing any period of
time described herein, the day of the act or event, after which the designated
period of time begins to run, is not to be included and

 

27

 

the last day of the
period so computed is to be included, unless such last day is a Saturday,
Sunday or legal holiday, in which event the period shall run until the end of
the next day which is neither a Saturday, Sunday, nor legal holiday (i.e., a
day on which federally chartered banks are not open for business in Chicago,
Illinois).  The last day of any period of
time described herein shall be deemed to end at 5 p.m. Chicago, Illinois time
on the last day of such period of time. 
All days other than Saturdays, Sundays and legal holidays in which
federally chartered banks are closed in Chicago, Illinois are business days
hereunder.

 

28

 

The parties hereto have executed this Agreement as of
the date set forth in the first paragraph of this Agreement.

 

	
   

  	
  Seller:

  	
   

  	
  Washington Commons Phase III Limited

  
	
   

  	
   

  	
   

  	
  Partnership, an Illinois limited partnership

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  HP-900 Diehl Road Limited

  
	
   

  	
   

  	
   

  	
   

  	
  Partnership, an Illinois limited

  
	
   

  	
   

  	
   

  	
   

  	
  partnership, its sole general

  
	
   

  	
   

  	
   

  	
   

  	
  partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  Hamilton Partners Office

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Division #1, Inc., an Illinois

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  corporation, its sole general

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  Hamilton Partners

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Office Division #1, Inc., an

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Illinois corporation, its sole

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Shigeru Mori,

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Vice-President

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Buyer:

  	
   

  	
  Alliance Commercial Partners, LLC

  
	
   

  	
   

  	
   

  	
  a Colorado limited liability company

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ David E. Ramsay

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Its:

  	
  Member

  	
   

  
											

 

29

 

LIST OF EXHIBITS
AND SCHEDULES

 

Exhibits

 

	
  Exhibit A

  	
  Real
  Property Description

  
	
   

  	
   

  
	
  Exhibit B

  	
  Strict Joint
  Order Escrow Trust Instructions

  
	
   

  	
   

  
	
  Exhibit C

  	
  List of
  Tenant Leases

  
	
   

  	
   

  
	
  Exhibit D

  	
  Deed

  
	
   

  	
   

  
	
  Exhibit E

  	
  Bill of Sale

  
	
   

  	
   

  
	
  Exhibit F

  	
  Assignment
  of Leases

  
	
   

  	
   

  
	
  Exhibit G

  	
  Assignment
  of Warranties and Other Intangible Property

  
	
   

  	
   

  
	
  Exhibit H

  	
  Estoppel
  Certificate

  

 

Schedules

 

	
  Schedule
  1.1(c)

  	
  Tangible
  Personal Property

  
	
   

  	
   

  
	
  Schedule 3.1

  	
  Disclosure
  Items

  
	
   

  	
   

  
	
  Schedule
  4.1(b)

  	
  Objections

  
	
   

  	
   

  
	
  Schedule 7.7

  	
  Repair Work

  

 

Exhibit A

 

REAL PROPERTY
DESCRIPTION

 

Lot 3 in Washington Commons Phase I, a Planned Unit Development, being
a Subdivision of part of the South 1⁄2 of Section 6, Township 38 North, Range 10,
East of the Third Principal Meridian, according to the Plat thereof recorded
April 3, 1987 as Document R87-46471, in DuPage County, Illinois.

 

A-1

 

Exhibit B

 

STRICT JOINT ORDER ESCROW TRUST INSTRUCTIONS

 

CHICAGO TITLE AND
TRUST COMPANY

 

	
   

  	
   

  	
  Refer to:

  	
   

  	
  Amanda Ray

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Phone no:

  	
   

  	
  312-223-2710

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Fax no

  	
   

  	
  312-223-4952

  

 

STRICT JOINT ORDER
ESCROW TRUST INSTRUCTIONS

 

	
  COMMITMENT NO.: 880004081

  	
   

  	
  Date:

  	
   

  	
  December 26, 2006

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  ESCROW NO.:

  	
   

  	
   

  	
   

  	
   

  

 

To:          Chicago
Title and Trust Company, Escrow Trustee:

 

Customer
Identification:

 

	
  Seller:

  	
   

  	
  Washington Commons
  Phase III Limited Partnership, an Illinois limited partnership

  
	
   

  	
   

  	
   

  
	
  Purchaser:

  	
   

  	
  Alliance Commercial
  Partners, LLC

  
	
   

  	
   

  	
   

  
	
  Property Address:

  	
   

  	
  450-550 Diehl Road,
  Naperville, Illinois

  
	
   

  	
   

  	
   

  
	
  Proposed disbursement
  date:

  	
   

  	
  February 1, 2007

  

 

Deposits:

 

Wire transfer in the amount of $153,000.00
representing earnest money deposit for the purchase of the above-referenced
property.

 

Delivery
of Deposits:

 

The above-referenced escrow trust deposits (“deposits”)
are (or will be) deposited with the escrow trustee, to be delivered by it only
upon the receipt of a joint order of the undersigned or their respective legal
representatives or assigns.

 

B-1

 

In no case shall the above mentioned deposits be
surrendered except upon the receipt of an order signed by the parties hereto,
their respective legal representatives or assigns, or in obedience to the court
order described below.

 

If either Seller or Purchaser refuses to sign a joint
order to Chicago Title and Trust Company, then, upon demand of either Seller or
Purchaser, Chicago Title and Trust Company promptly shall interplead all
deposits presently held by it with a court having jurisdiction.

 

Billing
Instructions:

 

Escrow trust fee will be billed:  1⁄2 to Seller and 1⁄2 to Purchaser; investment
fees are to be billed all to Purchaser. 
An annual maintenance fee, as determined by the then current rate
schedule, will commence February 1, 2008 if Chicago Title and Trust Company
retains any deposits as of that date.

 

PLEASE NOTE: 
The escrow trust fee for these joint order escrow instructions is due
and payable within 30 days from the projected disbursement date (which may be
amended by joint written direction of the parties hereto).  In the event no projected disbursement date
is ascertainable, said escrow trust fee is to be billed at acceptance and is
due and payable within 30 days from the billing date.  Chicago Title and Trust Company hereby waives
the escrow trust fee for these joint order escrow trust instructions in the
event the funds on deposit herein are transferred to or disbursed in connection
with sale escrow trust instructions or an agency closing transaction
established at Chicago Title and Trust Company.

 

Investment:

 

Deposits made pursuant to these instructions may be
invested on behalf of any party or parties hereto, provided, that any direction
to escrow trustee for such investment shall be expressed in writing and contain
the consent of all other parties to this escrow, and also provided that you are
in receipt of the taxpayer’s identification number and investment forms as
required.  Escrow trustee will, upon
request, furnish information concerning its procedures and fee schedules for
investment.

 

Except as to deposits of funds for which escrow
trustee has received express written direction concerning investment or other
handling, the parties hereto agree that the escrow trustee shall be under no
duty to invest or reinvest any deposits at any time held by it hereunder; and,
further that escrow trustee may commingle such deposits with other deposits or
with its own funds in the manner provided for the administration of funds under
Section 2-8 of the Corporate Fiduciary Act (205 ILCS 620/2-8) and may use
any part or all such funds for its own benefit without obligation of any party
for interest or earning derived thereby, if any.  Provided, however, nothing herein shall
diminish escrow trustee’s obligation to apply the full amount of the deposits
in accordance with the terms of these escrow trust instructions.

 

In the event the escrow trustee is requested to invest
deposits hereunder.  Chicago Title and
Trust Company is not to be held responsible for any loss of principal or
interest which may accrue as a result of making the investments or redeeming
said investment for the purposes of the escrow trust instructions.

 

B-2

 

Compliance
With Court Order:

 

The undersigned authorize and direct the escrow
trustee to disregard any and all notices, warnings or demands given or made by
the undersigned (other than jointly) or by any other person.  The said undersigned also hereby authorize
and direct the escrow trustee to accept, comply with, and obey any and all
writs, orders, judgments or decrees entered or issued by any court with or
without jurisdiction; and in case the said escrow trustee obeys or complies
with any such writ, order, judgment or decree of any court, it shall not be
liable to any of the parties hereto or any other person, by reason of such compliance,
notwithstanding any such writ, order, judgment or decree be entered without
jurisdiction or be subsequently reversed, modified, annulled, set aside or
vacated.  In case the escrow trustee is
made a party defendant to any suit or proceedings regarding this escrow trust,
the undersigned, for themselves, their heirs, personal representatives,
successors, and assigns, jointly and severally, agree to pay to said escrow
trustee, upon written demand, all costs, attorney’s fees, and expenses incurred
with respect thereto.  The escrow trustee
shall have a lien on the deposit(s) herein for any and all such costs, fees and
expenses.  If said costs, fees and
expenses are not paid, then the escrow trustee shall have the right to
reimburse itself out of said deposit(s).

 

Execution:

 

These escrow trust instructions are governed by and
are to be construed under the laws of the State of Illinois.  The escrow trust instructions, amendment or
supplemental instructions hereto, may be executed in counterparts, each of which
shall be deemed an original and all such counterparts together shall constitute
one and the same instrument.

 

	
  For Seller:

  	
   

  	
  For Purchaser:

  
	
   

  	
   

  	
   

  
	
  Firm/Name:

  	
  Seyfarth Shaw LLP

  	
   

  	
  Name:

  	
  Holme Roberts & Owen LLP

  
	
  Attn:

  	
  Michael D. Miselman

  	
   

  	
  Attn:

  	
  Bruce L. Likoff

  
	
  Address:

  	
  131 S. Dearborn Street

  	
   

  	
  Address:

  	
  1700 Lincoln Street

  
	
   

  	
  Suite 2400

  	
   

  	
   

  	
  Suite 4100

  
	
  City/State:

  	
  Chicago, IL 60603-5577

  	
   

  	
  City/State:

  	
  Denver, CO 80203-4541

  
	
  Phone No.:

  	
  (312) 460-5635

  	
   

  	
  Phone No.:

  	
  (303) 866-0345

  
	
  

  Signature:

  	
   

  	
   

  	
  

  Signature:

  	
   

  
						

 

B-3

 

Accepted: 
Chicago Title and Trust Company as Escrow Trustee

	
  By:

  	
   

  	
   

  
	
  Date:

  	
   

  	
   

  

 

B-4

 

Exhibit C

Washington Commons Phase III

Schedule of Leases and Amendments

 

	
  Tenant Name

  	
   

  	
  Lease /
  Amendment

  	
   

  	
  Lease
  Execution Date

  
	
  Dyslexia Institute of Greater Chicagoland, Inc. 500
  E. Diehl, Suite 120 

  	
   

  	
  Lease

  	
   

  	
  6/29/2005

  
	
   

  	
  1st Amendment

  	
   

  	
  7/28/2005

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Toyota Motor Sales USA 450 E. Diehl 

  	
   

  	
  Lease

  	
   

  	
  3/3/1999

  
	
   

  	
  1st Amendment

  	
   

  	
  12/17/2003

  
	
   

  	
  2nd Amendment

  	
   

  	
  9/21/2005

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NextiraOne, LLC 500 E. Diehl, Suite 100 

  	
   

  	
  Lease

  	
   

  	
  4/9/1999

  
	
   

  	
  1st Amendment

  	
   

  	
  9/16/2004

  
	
   

  	
  Assignment to U.A.C.

  	
   

  	
  6/13/2005

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  NYK Logistics (America), Inc.

  500 E. Diehl, Suite 110

  	
   

  	
  Lease

  	
   

  	
  2/1/2006

  

 

C-1

 

Exhibit D

 

DEED

 

This Instrument Prepared By:

 

Michael  D.
Miselman

Seyfarth Shaw LLP

131 S. Dearborn St. 

Suite 2400

Chicago, Illinois  60603

 

Upon Recordation Return To:

 

                                              

                                              

                                              

 

DEED

 

THIS DEED is made as of the     th
day of January, 2007 by Washington Commons Phase III Limited Partnership, an
Illinois limited partnership, Grantor to                                     ,
Grantee.

 

WITNESSETH, that the Grantor, in consideration of the
sum of Ten and No/100s ($10.00) Dollars and other good and valuable
consideration in hand paid, receipt and sufficiency whereof is hereby
acknowledged, and in pursuance of the power and authority vested in the Grantor
as said Trustee and of every other power and authority the Grantor hereunto
enabling, does hereby GRANT, BARGAIN, SELL AND CONVEY unto the Grantee, in fee
simple, the described real estate, situated in the County of DuPage and the
State of Illinois described on Exhibit A attached hereto and made a part hereof
subject to general real estate taxes not yet due and payable and the conditions
of title set forth in Exhibit B attached hereto and made a part hereof,
together with the tenements, hereditaments and appurtenances thereunto
belonging or in any wise appertaining.

 

TO HAVE AND TO HOLD, the real estate, together with
all and singular the tenements, hereditaments and appurtenances thereto in any
wise belonging, subject to the conditions of title, unto Grantee, its
successors, heirs, legal representatives, administrators, and assigns, FOREVER;
and the Grantor hereby does bind itself, its successors, and assigns to WARRANT
AND FOREVER DEFEND all and singular the real estate, together with all and
singular the tenements, hereditaments and appurtenances thereto in any wise
belonging, unto Grantee, its successors, legal representatives, and assigns,
forever, against every person whomsoever, lawfully claiming or to claim the
same, or any part thereof, by, through or under Grantor, but not otherwise,
subject to the conditions of title set forth in Exhibit B attached hereto and
made a part hereof.

 

[Signature
page follows]

 

D-1

 

IN WITNESS WHEREOF, the Grantor, as Trustee as
aforesaid, has hereunto set its hand and seal the day and year first above
written.

 

	
   

  	
  Washington Commons Phase III Limited Partnership, an Illinois limited
  partnership

  
	
   

  	
   

  
	
   

  	
  By:

  	
  HP-900 Diehl Road Limited

  Partnership, an Illinois limited

  partnership, its sole general partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Hamilton Partners Office

  Division #1, Inc., an Illinois

  corporation, its solegeneral

  partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Hamilton Partners

  Office Division #1, Inc., an

  Illinois corporation, its sole

  general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
     Shigeru Mori,

     Vice-President

  

 

D-2

 

	
  STATE OF ILLINOIS

  	
  )

  	
   

  
	
   

  	
  )

  	
  SS

  
	
  COUNTY OF COOK

  	
  )

  	
   

  

 

I, the undersigned, a Notary Public in and for said
County, in the State aforesaid, DO HEREBY CERTIFY that Shigeru Mori,
Vice-President of Hamilton Partners Office Division #1, Inc., an Illinois
corporation and sole general partner of HP-900 Diehl Road Limited Partnership,
an Illinois limited partnership and sole general partner of Washington Commons
Phase III Limited Partnership, an Illinois general partnership, personally
known to me to be the same person whose name is subscribed to the foregoing
instrument, appeared before me this day in person, and acknowledged that he
signed, sealed and delivered the said instrument as his free and voluntary act
on behalf of said corporation, for the uses and purposes therein set forth.

 

GIVEN under my hand and official seal, this              
day of January, 2007

 

	
   

  	
   

  
	
   

  	
  Notary Public

  

 

D-3

 

EXHIBIT A TO DEED

 

Lot 3 in Washington Commons Phase I, a
Planned Unit Development, being a Subdivision of part of the South 1⁄2 of Section
6, Township 38 North, Range 10, East of the Third Principal Meridian, according
to the Plat thereof recorded April 3, 1987 as Document R87-46471, in DuPage
County, Illinois. 

 

Permanent Real Estate Index
Number:  08-06-404-007

 

Address of Real Estate:  450-550 Diehl Road, Naperville, Illinois
60563

 

D-4

 

EXHIBIT B TO DEED

 

[Insert list of Conditions to Title]

 

D-5

 

Exhibit E

 

BILL OF SALE

 

This Bill of Sale (the “Bill of Sale”)
is made and entered into                 ,
20   , by and between                                       
(“Assignor”), and                                    
(“Assignee”).

 

In consideration of the sum of Ten Dollars ($10) and
other good and valuable consideration paid by Assignee to Assignor, the receipt
and sufficiency of which are hereby acknowledged, Assignor does hereby assign,
transfer, convey and deliver to Assignee, its successors and assigns, all items
of Tangible Personal Property (as defined in the Agreement referred to below) and
more particularly described on Exhibit A
attached hereto and made a part hereof for all purposes, including, without
limitation, the Tangible Personal Property identified in Exhibit B,
if any, attached hereto and made a part hereof for all purposes (the “Personal Property”).

 

Assignee acknowledges and agrees that, except as
expressly provided in, and subject to the limitations contained in, that
certain Agreement of Purchase and Sale dated                              ,
20   , by and between Assignor and Assignee (the “Agreement”), Assignor has not made, does not make and
specifically disclaims any representations, warranties, promises, covenants,
agreements or guaranties of any kind or character whatsoever, whether express
or implied, oral or written, past, present or future, of, as to, concerning or
with respect to (a) the nature, quality or conditions of the personal property,
(b) the income to be derived from the personal property, (c) the suitability of
the personal property for any and all activities and uses which Assignee may
conduct thereon, (d) the compliance of or by the personal property or its
operation with any laws, rules, ordinances or regulations of any applicable
governmental authority or body, (e) the quality, habitability, merchantability
or fitness for a particular purpose of any of the personal property, or (f) any
other matter with respect to the personal property.  Assignee further acknowledges and agrees
that, having been given the opportunity to inspect the personal property,
Assignee is relying solely on its own investigation of the personal property
and not on any information provided or to be provided by Assignor, except as
specifically provided in the Agreement. 
Assignee further acknowledges and agrees that any information provided
or to be provided with respect to the personal property was obtained from a
variety of sources and that Assignor has not made any independent investigation
or verification of such information. 
Assignee further acknowledges and agrees that the sale of the personal
property as provided for herein is made on an “as is, where is” condition and
basis “with all faults,” except as specifically provided in, and subject to the
limitations contained in, the Agreement.

 

The obligations of Assignor are intended to be binding
only on the property of Assignor and shall not be personally binding upon, nor
shall any resort be had to, the private properties of any Seller Related
Parties (as defined in the Agreement).

 

IN WITNESS WHEREOF, Assignor and Assignee have caused
this Bill of Sale to be executed on the date and year first above written.

 

E-1

 

	
   

  	
  Assignor:

  	
  Washington Commons Phase III Limited Partnership, an Illinois limited
  partnership 

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  HP-900 Diehl Road Limited

  Partnership, an Illinois limited

  partnership, its sole general partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  Hamilton Partners Office

  Division #1, Inc., an Illinois

  corporation, its sole general

  partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Hamilton Partners

  Office Division #1, Inc., an

  Illinois corporation, its sole

  general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
    Shigeru Mori,

    Vice-President

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Assignee:

  	
   

  
	
   

  	
   

  	
  a

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Its:

  	
   

  
									

 

E-2

 

Exhibit F

 

ASSIGNMENT OF
LEASES

 

This Assignment of Leases (this “Assignment”)
is made and entered into                           ,
20    , by and between                                    
(“Assignor”),                                                                                          
(“Assignee”).

 

For good and valuable consideration paid by Assignee
to Assignor, the receipt and sufficiency of which are hereby acknowledged,
Assignor does hereby assign, transfer, set over and deliver unto Assignee all
of Assignor’s right, title, and interest in and to those certain leases listed
on Exhibit A attached hereto and made
a part hereof for all purposes except for Seller’s right to collect delinquent
rent and other delinquent sums owing under such Leases for the period prior to
the date hereof in accordance with the Agreement (as defined below), together
with all guarantees of such leases and all security deposits (whether in the
form of cash, letters of credit or any other form) (such leases, guarantees and
security deposits all hereinafter referred to as the “Leases”).

 

ASSIGNEE ACKNOWLEDGES AND AGREES, BY ITS ACCEPTANCE
HEREOF, THAT, EXCEPT AS EXPRESSLY PROVIDED IN, AND SUBJECT TO THE LIMITATIONS
CONTAINED IN, THAT CERTAIN AGREEMENT OF PURCHASE AND SALE, DATED AS OF                            ,
20  , BY AND BETWEEN ASSIGNOR AND ASSIGNEE (THE “AGREEMENT”),
THE ASSIGNED ITEMS ARE CONVEYED “AS IS, WHERE IS” AND IN THEIR PRESENT
CONDITION WITH ALL FAULTS, AND THAT ASSIGNOR HAS NOT MADE, DOES NOT MAKE AND
SPECIFICALLY DISCLAIMS ANY REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS,
AGREEMENTS OR GUARANTIES OF ANY KIND OR CHARACTER WHATSOEVER, WHETHER EXPRESS
OR IMPLIED, ORAL OR WRITTEN, PAST, PRESENT OR FUTURE, OF, AS TO, CONCERNING OR
WITH RESPECT TO THE NATURE, QUALITY OR CONDITION OF THE ASSIGNED ITEMS, THE
INCOME TO BE DERIVED THEREFROM, OR THE ENFORCEABILITY, MERCHANTABILITY OR
FITNESS FOR ANY PARTICULAR PURPOSE OF THE ASSIGNED ITEMS.

 

Except as otherwise expressly provided in Article VII
of the Agreement, by accepting this Assignment and by its execution hereof, Assignee
assumes the payment and performance of, and agrees to pay, perform and
discharge, all the debts, duties and obligations to be paid, performed or
discharged from and after the Closing Date (as defined in the Agreement) by the
“landlord” or the “lessor” under the terms, covenants and conditions of the
Leases, including, without limitation, brokerage commissions and compliance
with the terms of the Leases relating to tenant improvements and security
deposits.  Assignee agrees to indemnify,
hold harmless and defend Assignor from and against any and all claims, losses,
liabilities, damages, costs and expenses (including, without limitation, court
costs and reasonable attorneys’ fees and disbursements) resulting by reason of
the failure of Assignee to (i) pay, perform or discharge any of the debts,
duties or obligations assumed or agreed to be assumed by Assignee hereunder
arising out of or relating to, directly or indirectly, in whole or in part, the
Leases, from and after the Closing Date or (ii) pay, perform or discharge
any of its obligations under the Agreement relative to the Leases or payment of
real property taxes.  Except as otherwise
expressly provided in Article VII and subject to the provisions of Sections 3.2
and 9.19 of the Agreement (which provisions are not modified in any way by the
following indemnity), Assignor agrees to protect,

 

F-1

 

indemnify, defend and
hold Assignee harmless from and against all claims, losses, damages, costs,
expenses, obligations and liabilities (including, without limitation, court
costs and reasonable attorneys’ fees and disbursements) (collectively, “Claims”) arising out of or relating to, directly or
indirectly, in whole or in part, (i) the Leases prior to the Closing Date or
(ii) Assignor’s failure to pay, perform or discharge any of its obligations
under the Agreement relative to the Leases or payment of real property taxes;
provided, however, that the foregoing indemnity shall not apply to any Claims
relating in any way to the physical, environmental or other condition of the
Property (as defined in the Agreement) or the compliance or non-compliance of
the Property with any legal requirements; and provided further that the
foregoing indemnity shall apply solely to Claims first raised after the Closing
Date and shall survive only for a period of twelve (12) months after the
Closing Date.  Any such Claim which
Assignee may have at any time against Assignor, whether known or unknown, which
is not specifically asserted by written notice to Assignor within such twelve
(12) month period shall not be valid or effective, and neither Assignor nor any
Seller Related Parties (as defined in the Agreement) shall have any liability
with respect thereto.

 

The obligations of Assignor are intended to be binding
only on the property of Assignor and shall not be personally binding upon, nor
shall any resort be had to, the private properties of any Seller Related
Parties.

 

All of the covenants, terms and conditions set forth
herein shall be binding upon and shall inure to the benefit of the parties
hereto and their respective successors and assigns.

 

IN WITNESS WHEREOF, Assignor and Assignee have caused
this Assignment to be executed on the day and year first above written.

 

	
   

  	
  Assignor:

  	
  Washington Commons Phase III Limited

  Partnership, an Illinois limited partnership 

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  HP-900 Diehl Road Limited

  Partnership, an Illinois limited

  partnership, its sole general partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Hamilton Partners Office

  Division #1, Inc., an Illinois

  corporation, its sole general

  partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  Hamilton Partners

  Office Division #1, Inc., an

  Illinois corporation, its sole

  general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
     Shigeru Mori,

     Vice-President

  

 

F-2

 

	
   

  	
  Assignee:

  	
   

  
	
   

  	
   

  	
  a

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
   

  
					

 

F-3

 

Exhibit G

 

ASSIGNMENT OF 

WARRANTIES AND OTHER INTANGIBLE PROPERTY

 

This Assignment of Warranties and Other Intangible
Property (this “Assignment”) is made and entered
into                           ,
2007, by and between                                                     
(“Assignor”),                                                                                                    
(“Assignee”).

 

For good and valuable consideration paid by Assignee
to Assignor, the receipt and sufficiency of which are hereby acknowledged,
Assignor does hereby assign, transfer, set over and deliver unto Assignee all
of Assignor’s right, title, and interest in and to the following (collectively,
the “Assigned Items”): (i) those certain
warranties held by Assignor (the “Warranties”)
listed on Exhibit A, if any, attached hereto and
made a part hereof for all purposes, and (ii) all zoning, use, occupancy and
operating permits, and other permits, licenses, approvals and certificates,
maps, plans, specifications, and all other Intangible Personal Property (as
defined in the Agreement) owned by Assignor and used in the use or operation of
the Real Property and Personal Property (each as defined in the Agreement),
including, without limitation, any right of Assignor to use the name “Washington
Commons” and any other trade name owned by Assignor now used exclusively in
connection with the Real Property and any utility contracts or other agreements
or rights relating to the use and operation of the Real Property and Personal
Property (collectively, the “Other Intangible Property”).

 

ASSIGNEE ACKNOWLEDGES AND
AGREES, BY ITS ACCEPTANCE HEREOF, THAT, EXCEPT AS EXPRESSLY PROVIDED IN, AND
SUBJECT TO THE LIMITATIONS CONTAINED IN, THAT CERTAIN AGREEMENT OF PURCHASE AND
SALE, DATED AS OF                              ,
20   , BY AND BETWEEN ASSIGNOR AND ASSIGNEE (THE “AGREEMENT”), THE ASSIGNED ITEMS ARE CONVEYED “AS IS, WHERE
IS” AND IN THEIR PRESENT CONDITION WITH ALL FAULTS, AND THAT ASSIGNOR HAS NOT
MADE, DOES NOT MAKE AND SPECIFICALLY DISCLAIMS ANY REPRESENTATIONS, WARRANTIES,
PROMISES, COVENANTS, AGREEMENTS OR GUARANTIES OF ANY KIND OR CHARACTER
WHATSOEVER, WHETHER EXPRESS OR IMPLIED, ORAL OR WRITTEN, PAST, PRESENT OR
FUTURE, OF, AS TO, CONCERNING OR WITH RESPECT TO THE NATURE, QUALITY OR
CONDITION OF THE ASSIGNED ITEMS, THE INCOME TO BE DERIVED THEREFROM, OR THE
ENFORCEABILITY, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF THE
ASSIGNED ITEMS.

 

Except as otherwise expressly provided in Article VII
of the Agreement, by accepting this Assignment and by its execution hereof,
Assignee assumes the payment and performance of, and agrees to pay, perform and
discharge, all the debts, duties and obligations to be paid, performed or
discharged from and after the Closing Date (as defined in the Agreement) by the
owner under the Warranties and/or the Other Intangible Property.  Assignee agrees to indemnify, hold harmless
and defend Assignor from and against any and all claims, losses, liabilities,
damages, costs and expenses (including, without limitation, court costs and
reasonable attorneys’ fees and disbursements) resulting by reason of the
failure of Assignee to pay, perform or discharge any of the debts, duties or
obligations assumed or agreed to be assumed by Assignee hereunder arising out
of or relating to, directly or indirectly, in whole or in part, the Assigned
Items, from and after the Closing Date. 
Except as otherwise expressly provided in Article VII

 

G-1

 

and subject to the
provisions of Sections 3.2 and 9.19 of the Agreement (which provisions are not
modified in any way by the following indemnity), Assignor agrees to protect,
indemnify, defend and hold Assignee harmless from and against all claims,
losses, damages, costs, expenses, obligations and liabilities (including,
without limitation, court costs and reasonable attorneys’ fees and
disbursements) (collectively, “Claims”) arising
out of or relating to, directly or indirectly, in whole or in part, the Service
Contracts (as defined in the Agreement); provided, however, that the foregoing
indemnity shall not apply to any Claims relating in any way to the physical,
environmental or other condition of the Property (as defined in the Agreement)
or the compliance or non-compliance of the Property with any legal
requirements; and provided further that the foregoing indemnity shall apply
solely to Claims first raised after the Closing Date and shall survive only for
a period of twelve (12) months after the Closing Date.  Any such Claim which Assignee may have at any
time against Assignor, whether known or unknown, which is not specifically
asserted by written notice to Assignor within such twelve (12) month period
shall not be valid or effective, and neither Assignor nor any Seller Related
Parties (as defined in the Agreement) shall have any liability with respect
thereto.

 

The obligations of Assignor are intended to be binding
only on the property of Assignor and shall not be personally binding upon, nor
shall any resort be had to, the private properties of any Seller Related
Parties.

 

All of the covenants, terms and conditions set forth
herein shall be binding upon and shall inure to the benefit of the parties
hereto and their respective successors and assigns.

 

IN WITNESS WHEREOF, Assignor and Assignee have caused
this Assignment to be executed on the day and year first above written.

	
   

  	
  Assignor:

  	
  Washington Commons Phase III Limited

  Partnership, an Illinois limited partnership

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  HP-900 Diehl Road Limited

  Partnership, an Illinois limited

  partnership, its sole general partner

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  Hamilton Partners Office

  Division #1, Inc., an Illinois

  corporation, its sole general

  partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  Hamilton Partners

  Office Division #1, Inc., an

  Illinois corporation, its sole

  general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
     Shigeru Mori,

     Vice-President

  

 

G-2

 

	
   

  	
  Assignee:

  	
   

  
	
   

  	
   

  	
  a

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Its:

  	
   

  
						

 

G-3

 

Exhibit H

 

TENANT ESTOPPEL

 

The undersigned (“Tenant”) hereby
certifies to                                  
(“Seller”) and to                                  
(“Buyer”) and to                                  
(“Lender”) in connection with Buyer’s
proposed purchase of that certain            
building located at                                                            ,
                                                
(the “Building”) that:

 

1.             Tenant
is the lessee of certain space (the “Premises”) in
the Building, containing approximately                     
square feet and known as Suite No.       , under
a lease dated                     ,
             (the “Lease”) entered into between Tenant and                                                       ,
as lessor (“Lessor”).

 

2.             The
Lease is presently in full force and effect and Tenant is not in default
thereunder.

 

3.             The
Lease, in the form of Exhibit A
attached hereto, constitutes the entire agreement between the Lessor and Tenant
and there has been no amendment, written or oral, to the Lease except as
included in Exhibit A.  Tenant neither expects nor has been promised
any inducement, concession or consideration for entering into the Lease, except
as stated therein, and there are no side agreements or understandings between
Lessor and Tenant.

 

4.             Tenant
has accepted the Premises and is paying rent under the Lease.

 

5.             The
term of the Lease commenced on                            ,
      , and will end on                       ,
with        options to extend of successive
periods of            
years each.  The monthly rental for lease
year             -            
is                                                      
Dollars ($                ).  Except as expressly set forth in the Lease,
Tenant has no cancellation rights under the Lease.  Tenant has no purchase options under the
Lease with respect to the Premises.  

 

6.             Tenant
is required to pay its pro rata share of operating expenses of the Building and
its pro rata share of the Building’s real property taxes and insurance
costs.  Tenant’s pro-rata share of
operating expenses, real property taxes and insurance costs is          %.  The amount payable by Tenant on account of operating
expenses, real property taxes and insurance costs is calculated pursuant to the
Lease without reference to any base year or base amount (however identified).

 

7.             As
of the date of this certificate, Lessor is not in default under the Lease, nor
has any event or circumstance occurred or failed to occur that, with the
passage of time or the giving of notice, or both, would constitute a default
under the Lease by Lessor.

 

8.             The
amount of the security deposit paid under the terms of the Lease is                                                        
Dollars ($                 ).  No rent under the Lease has been paid more
than one month in advance, and no other sums have been deposited with
Lessor.  There is no unexpired free
rental, construction, improvement or refurbishment allowance or other
allowance, rebates or other rent concession due to Tenant under the Lease.

 

H-1

 

9.             The
undersigned has not entered into any sublease, assignment or any other agreement
transferring any of its interest in the Lease or the Premises except as
follows:                                                                         .

 

10.           Lessor has completed all improvements and
alterations to the Premises or the Building required to be performed or
furnished by Lessor according to the Lease. 
All sums required to be paid by Lessor to or for the benefit of Tenant
pursuant to the Lease for any construction, improvement or refurbishment allowance
or other allowance have been paid in full.

 

11.           There are no offsets, defenses, claims,
counterclaims or credits against Lessor or against Lessor’s enforcement of
Tenant’s obligations under the Lease, including, without limitation, the
payment of rent.  Lessor has not agreed
to assume the obligations of Tenant under any other lease in connection with
Tenant entering into the Lease.

 

12.           Tenant is not insolvent and has not (i) made
a general assignment for the benefit of creditors, (ii) filed any voluntary
petition in bankruptcy or suffered the filing of any involuntary petition by
Tenant’s creditors, (iii) suffered the appointment of a receiver to take
possession of all or any part of the Premises or all, or substantially all, of
Seller’s assets, (iv) suffered the attachment or other judicial seizure of all
or any part of the Premises or all, or substantially all, of Tenant’s assets,
(v) admitted in writing its inability to pay its debts as they come due, or
(vi) made an offer of settlement, extension or composition to its creditors
generally.

 

13.           All exhibits attached hereto are by this
reference incorporated fully herein.  The
terms “this certificate” shall be considered to include all such exhibits.  The undersigned makes this statement for the
Buyer’s, Seller’s and Lender’s benefit and protection with the understanding
that Buyer (and any assignee of Buyer’s right to purchase the Premises) and
Lender intend to rely upon this statement in connection with Buyer’s or its
assignee’s intended purchase (and Lender’s financing of the purchase) of the
above described Premises from Seller. 
This certificate may not be changed, waived or discharged orally, but
only by an agreement in writing signed by Tenant, Buyer, Seller and Lender.

 

	
  EXECUTED:                     
  , 20  .

  	
  TENANT:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Its:

  	
   

  

 

H-2

 

Schedule 1.1(c)

 

TANGIBLE PERSONAL PROPERTY

 

1.             1 ea. 6 foot ladders

2.             1 ea. 12 foot ladder

3.             1 ea. 2 foot level

4.             9 ea. Honeywell
programmable thermostats

5.             9 ea. Honeywell
subases

6.             1 ea. 71/4 circular
saw

7.             1 ea. 4 inch angle
grinder

8.             1 ea. electric snow
broom

9.             1 ea. electric metal
shears

10.           1 ea. Metal storage
cabinet

 

 

Schedule 3.1

 

DISCLOSURE ITEMS

 

None.

 

 

Schedule 4.1(b)

 

EXCEPTIONS

 

 

 

	
  

  	
   

  	
  Holme Roberts & Owen LLP

  Attorneys at Law

  	
   

  
	
   

  	
   

  	
   

  
	
  DENVER

  	
   

  	
  December
  15, 2006

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Via Facsimile (630) 719-5570

  
	
   

  	
   

  	
   

  
	
  BOULDER

  	
   

  	
  Washington
  Commons Phase III Limited Partnership

  c/o Hamilton Partners

  1901 Butterfield Road

  Suite 270

  Downers Grove, IL 60515

  
	
  COLORADO
  SPRINGS

  	
   

  	
  Attention:
  Mr. Gary Mori

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Via Facsimile (312)
  460-7635

  
	
   

  	
   

  	
   

  
	
  LONDON

  	
   

  	
  Seyfarth
  Shaw LLP

  131 South Dearborn Street, Suite 2400

  Chicago, IL 60603

  Attention: Mr. Michael D. Miselman

  
	
   

  	
   

  	
   

  
	
  LOS
  ANGELES

  

  

  MUNICH

  	
   

  	
  Re:          Title and Survey Objections for
  Draft Agreement of Purchase and Sale between Washington Commons Phase III
  Limited Partnership (“Seller”) and Alliance Commercial Partners, LLC, a
  Colorado limited liability company (“Buyer”) (the “Agreement”) for the
  property known as Lot 3. Washington Commons-Phase I, Naperville, Illinois
  (the “Property”).

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Gentlemen:

  
	
   

  	
   

  	
   

  
	
  SALT
  LAKE CITY

  

  

  	
   

  	
  On
  behalf of Buyer, we have reviewed Title Commitment No. 880004081 dated
  effective as of October 24, 2006 (the “Title Commitment”) prepared by Chicago
  Title Insurance Company (the “Title Company”) and that certain ALTA/ASCM
  survey prepared by Cowbey, Gudmonson, Leder, LTD., Job No. 3642 dated
  November 28, 2006. (the “Survey”).

  
	
   

  	
   

  	
   

  
	
  SAN
  FRANCISCO

  	
   

  	
  We
  are aware that the Agreement is still in negotiations, but in the interest of
  moving due diligence items forward while negotiations are underway, we are
  sending you our objections to the Title Commitment and the Survey for your
  internal discussions and consideration.

  

 

1700 Lincoln Street, Suite
4100 Denver, Colorado 80203-4541 tel 303.861.7000 fax 303.866.0200

 

 

The Title Commitment

1.                 Seller shall satisfy
any requirements directed to it listed under the Requirements Section of the Title Commitment,
including, but not limited to, the reconveyance of the lien evidenced by the
Deeds of Trust and related documents listed in Items 5 through 7 and the Mechanic’s
Liens listed as Items 9 and 10 of Schedule B of the Title Commitment.

2.     Buyer requires an extended coverage ALTA Owner’s
Policy of Title Insurance (the
“Policy”).

3.     Buyer requires that general notes listed as items 11, 13, 14, 15, 17,
21, 32 under Schedule B be deleted from the
Policy.

4.     With regard to Item 12 under Schedule B of the
Commitment, Purchaser requires Seller to provide a certified rent roll for the
tenants on
the property to Title Company and will request that the Title Company revise
said Item 12 accordingly based upon receipt of said rent roll.

5.                 Buyer objects to Item 16
under Schedule B of the Commitment, which takes exception to an ordinance dated
1986 approving the plat for
Washington Commons. Buyer requests a certificate from the Seller that states
that there are no outstanding obligations, financial or otherwise, as to the Property, pursuant to this
Ordinance.

6.      Buyer objects to Item 19 under Schedule B of the Commitment,
which makes
exception to as Pre-Annexation Agreement dated July 1984. The term of this
agreement expired in March of 1999 and Buyer requires that this exception be
deleted from the Policy.

7.      Buyer objects to Item 20 under Schedule B of the
Commitment, which takes exception to a Declaration of Easements, Restrictions
and Covenants recorded October 1988 for ingress, egress, retention and detention ponds, storm
sewer pipe easements, sanitary sewer easements and assessments Fees.  This Declaration was abrogated by the Declaration of
Easements described in Item 34 of the Commitment, and therefore is no longer
in effect. Buyer will require that the title company delete this exception from the Policy.

 

2

 

8.     Buyer objects to Item 28 under Schedule B of the Commitment, which
takes exception to a First Amendment to the Installment Agreement for the
System Development Charges for Washington Commons Phase II. This Agreement only
affects Lot 2, Washington Commons, and therefore Buyer will require that the
Title Company delete this exception from the Policy.

9.     Buyer objects to Item 29 under Schedule B of the Commitment, which
takes exception to a Alternative Payment Agreement for Non-Residential
Electrical System Infrastructure Availability Charge, Buyer requests an
estoppel from the Seller that states that there are no defaults under this
agreement and no outstanding obligations, financial or otherwise, as to the
Property under this Agreement.

10.   Buyer objects to Item 24 under Schedule B of the Commitment, which
takes exception to an encroachment of a sidewalk shown on a survey dated 1996.
This survey no longer accurately reflects the Property, and Buyer will require
that the Title Company delete this exception from the Policy.

11.   Buyer objects to Item 30 under Schedule B of the Commitment, which
takes exception to the Declaration of Easements, Restrictions and Covenants
dated March 6, 2000. Buyer requests an estoppel from the Association that
states that there are no defaults under this agreement and no outstanding
obligations as to the Property under this Declaration. In addition, Buyer will
request that the Title Company add this document to the legal description as an
insured parcel.

12.   Buyer will require the following endorsements be included as part of
the Policy;

a.             ALTA Form 8.1;

b.             ALTA Form 9.2;

c.             Zoning Endorsement;

d.             Deletion of Arbitration and Creditor’s
Rights;

e.             “Same as” survey endorsement; and

f.              Access Endorsement.

 

3

 

Please
call with any questions. Upon execution of the Agreement, we will send a formal
title objection letter to Seller, the Title Company and the Surveyor.

	
  Sincerely,

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/
  Jennifer E. Lathrop

  	
   

  
	
  Jennifer
  E. Lathrop

  	
   

  
	
  Paralegal

  	
   

  

 

cc:           David
Ramsay (via facsimile)

Bruce L. Likoff, Esq. (via e-mail)

Dawn MacKinnon, Esq. (via e-mail)

 

4

 

Schedule 7.7

 

REPAIR WORK

 

 

CONNOR ELECTRIC

 

	
  ELECTRICAL PROPOSAL 

  	
  DATE : 11/30/06

  

 

	
  Proposal Submitted To

  	
   

  	
  Work To
  Be Performed At

  
	
  Company Name

  	
   

  	
  HAMILTON PARTNERS

  	
   

  	
  Name

  	
   

  	
  LEXUS

  
	
  Street

  	
   

  	
  1901 BUTTERFIELD RD.S/270

  	
   

  	
  Street

  	
   

  	
  450 E. DIEHL RD.

  
	
  City, St., Zip

  	
   

  	
  DOWNERS GROVE, IL 60515

  	
   

  	
  City, St, Zip

  	
   

  	
  LISLE,IL 60532

  
	
  Attention

  	
   

  	
  BETH SIMMONS

  	
   

  	
  Date of Plans

  	
   

  	
   

  
	
  Phone

  	
   

  	
  630-963-0700

  	
   

  	
  Architect

  	
   

  	
   

  

 

We hereby propose to furnish
the materials and perform the labor necessary for the completion of:

 

CIRCUIT TRACE AND LABEL ALL
DEVICES IN ORIGINAL LEXUS TENANT FINISH OUT ON OVERTIME.

 

All material as guaranteed to be as specified, and the above work to be
performed in accordance with the drawings and specifications submitted for
above work and completed in a substantial workmanlike manner for the sum of:

 

	
  TWO THOUSAND FIVE HUNDRED DOLLARS

  	
   

  	
  $ 2500.00

  
	
   

  	
   

  	
   

  
	
  with payments to be made as follows:

  	
   

  	
  30

  	
   

  	
  Days after invoice

  
					

 

	
  Any alteration or deviation from above
  specifications involving extra costs, will be executed only upon written
  orders, and will become an extra charge over and above the estimate. All
  agreements contingent upon strikes, accidents or delays beyond our control. Owner
  to carry fire, tornado and other necessary insurance upon above work.
  Workmen’s Compensation and Public Liability Insurance on above work to be
  taken out by  

  Connor Electric

  	
   

  	
  Respectfully Submitted:

  	
   

  	
  Connor Electric

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Per:

  	
   

  	
  Jack Sussmann

  
	
   

  	
  Note

  	
   

  	
  This proposal may be withdrawn by us if not accepted within days 45

  
	
  ACCEPTANCE OF PROPOSAL

  
	
   

  
	
  The above prices, specifications and conditions are satisfactory and
  are hereby accepted. You are authorized to do the work as specified. Payment
  will be made as outlined above.

  
	
   

  
	
   

  	
   

  	
  Signature:

  	
   /s/ [ILLEGIBLE]

  
	
   

  	
   

  	
   

  	
   

  
	
  Date:

  	
   

  	
   

  	
  Signature:

  	
   

  
									

 

P.O. BOX 806 WEST DUNDEE, IL 60118
847-931-3652 FX 847-931-3654

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00117-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00117-of-00352.parquet"}]]