Document:

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                                                                   EXHIBIT 10.69

                               PURCHASE AGREEMENT
                               (PHASE IV - LAND)

                                     BETWEEN

                             BNP LEASING CORPORATION

                                    ("BNPLC")

                                       AND

                             NETWORK APPLIANCE, INC.

                                     ("NAI")

                                 OCTOBER 2, 2000

                             (SUNNYVALE, CALIFORNIA)

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                                TABLE OF CONTENTS

<TABLE>
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<S>                                                                                        <C>
1.      NAI's Options and Obligations on the Designated Sale Date............................1
        (A)    Right to Purchase; Right and Obligation to Remarket...........................1
        (B)    Determinations Concerning Price...............................................3
        (C)    Designation of the Purchaser..................................................4
        (D)    Effect of the Purchase Option and NAI's Initial
               Remarketing Rights and Obligations on Subsequent Title
               Encumbrances..................................................................4
        (E)    Security for the Purchase Option and NAI's Initial
               Remarketing Rights and Obligations............................................5
        (F)    Delivery of Books and Records If BNPLC Retains the
               Property......................................................................5

2.      NAI's Rights and Options After the Designated Sale Date..............................5
        (A)    NAI's Extended Right to Remarket..............................................5
        (B)    Definition of Minimum Extended Remarketing Price..............................6
        (C)    BNPLC's Right to Sell.........................................................7
        (D)    NAI's Right to Excess Sales Proceeds..........................................7
        (E)    Permitted Transfers During NAI's Extended Remarketing
               Period........................................................................7

3.      Terms of Conveyance Upon Purchase....................................................8

4.      Survival and Termination of the Rights and Obligations of NAI and BNPLC..............8
        (A)    Status of this Agreement Generally............................................8
        (B)    Intentionally Deleted.........................................................9
        (C)    Intentionally Deleted.........................................................9
        (D)    Automatic Termination of NAI's Rights.........................................9
        (E)    Termination of NAI's Extended Remarketing Rights to
               Permit a Sale by BNPLC........................................................9
        (F)    Payment Only to BNPLC........................................................10
        (G)    Remedies Under the Other Operative Documents.................................10
        (H)    Occupancy by NAI Prior to Closing of a Sale..................................10

5.      Security for NAI's Obligations; Return of Funds.....................................10

6.      Certain Remedies Cumulative.........................................................11

7.      Attorneys' Fees and Legal Expenses..................................................11

8.      Estoppel Certificate................................................................11

9.      Successors and Assigns..............................................................11

10.     Amendment and Restatement...........................................................12
</TABLE>

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                             EXHIBITS AND SCHEDULES

Exhibit A      Legal Description

Exhibit B      Requirements Re: Form of Grant Deed and Ground Lease

Exhibit C      Bill of Sale and Assignment

Exhibit D      Acknowledgment and Disclaimer

Exhibit E      Secretary's Certificate

Exhibit F      Certificate Concerning Tax Withholding

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                               PURCHASE AGREEMENT
                                (PHASE IV - LAND)

       This PURCHASE AGREEMENT (PHASE IV - LAND) (this "Agreement"), by and
between BNP LEASING CORPORATION, a Delaware corporation ("BNPLC"), and NETWORK
APPLIANCE, INC., a California corporation ("NAI"), is made and dated as of
October 2, 2000, the Effective Date. ("Effective Date" and other capitalized
terms used and not otherwise defined in this Agreement are intended to have the
meanings assigned to them in the Common Definitions and Provisions Agreement
(Phase IV - Land) executed by BNPLC and NAI contemporaneously with this
Agreement. By this reference, the Common Definitions and Provisions Agreement
(Phase IV - Land) is incorporated into and made a part of this Agreement for all
purposes.)

                                    RECITALS

       NAI and BNPLC previously executed that Purchase Agreement (Phase IV Land)
dated as of December 20, 1000 (the "Prior Purchase Agreement"). NAI and BNPLC
have agreed to amend, restate and replace the Prior Purchase Agreement with this
Agreement as provided in Paragraph 10 below.

       Pursuant to the Existing Contract, which covers the Land described in
Exhibit A, BNPLC has acquired the Land and any appurtenances thereto from
Seller. Pursuant to the Lease Agreement (Phase IV - Land) executed by BNPLC and
NAI contemporaneously with this Agreement (the "Land Lease"), BNPLC is leasing
the Land to NAI. (All of BNPLC's interests, including those created by the
documents delivered at the closing under the Existing Contracts, in the Land and
in all other real and personal property from time to time covered by the Land
Lease and included within the "Property" as defined therein are hereinafter
collectively referred to as the "Property". The Property does not include the
Improvements, it being understood that the Other Purchase Agreement constitutes
a separate agreement providing for the possible sale of the Improvements and the
appurtenances thereto, and only the Improvements and the appurtenances thereto,
from BNPLC to NAI or a third party designated by NAI.)

       NAI and BNPLC have reached agreement upon the terms and conditions upon
which NAI will purchase or arrange for the purchase of the Property, and by this
Agreement they desire to evidence such agreement.

                                   AGREEMENTS

       1.     NAI'S OPTIONS AND OBLIGATIONS ON THE DESIGNATED SALE DATE.

              (A) Right to Purchase; Right and Obligation to Remarket. Whether
or not an Event of Default shall have occurred and be continuing or the Land
Lease shall have been terminated, but subject to Paragraph 4 below:

                     (1) NAI shall have the right (the "Purchase Option") to
       purchase or cause an Affiliate of NAI to purchase the Property and
       BNPLC's interest in Escrowed

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       Proceeds, if any, on the Designated Sale Date for a cash price equal to
       the Break Even Price (as defined below).

                     (2) If neither NAI nor an Affiliate of NAI purchases the
       Property and BNPLC's interest in any Escrowed Proceeds on the Designated
       Sale Date as provided in the preceding subparagraph 1.(A)(1), then NAI
       shall have the following rights and obligations (collectively, "NAI's
       Initial Remarketing Rights and Obligations"):

                            (a) First, NAI shall have the right (but not the
              obligation) to cause an Applicable Purchaser who is not an
              Affiliate of NAI to purchase the Property and BNPLC's interest in
              any Escrowed Proceeds on the Designated Sale Date for a cash
              purchase price (the "Third Party Price") determined as provided
              below. If, however, the Break Even Price exceeds the sum of any
              Third Party Price tendered or to be tendered to BNPLC by an
              Applicable Purchaser and any Supplemental Payment paid by NAI as
              described below, then BNPLC may affirmatively elect to decline
              such tender from the Applicable Purchaser and to keep the Property
              and any Escrowed Proceeds rather than sell to the Applicable
              Purchaser pursuant to this subparagraph (a "Voluntary Retention of
              the Property").

                            (b) Second, if the Third Party Price actually paid
              by an Applicable Purchaser to BNPLC on the Designated Sale Date
              exceeds the Break Even Price, NAI shall be entitled to such
              excess, subject, however, to BNPLC's right to offset against such
              excess any and all sums that are then due from NAI to BNPLC under
              the other Operative Documents.

                            (c) Third, if for any reason whatsoever (including a
              Voluntary Retention of the Property or a decision by NAI not to
              exercise its right to purchase or cause an Applicable Purchaser to
              purchase from BNPLC as described above) neither NAI nor an
              Applicable Purchaser pays a net cash price to BNPLC on the
              Designated Sale Date equal to or in excess of the Break Even Price
              in connection with a sale of the Property and BNPLC's interest in
              any Escrowed Proceeds pursuant to this Agreement, then NAI shall
              have the obligation to pay to BNPLC on the Designated Sale Date a
              supplemental payment (the "Supplemental Payment") equal to the
              lesser of (1) the amount by which the Break Even Price exceeds
              such net cash price (if any) actually received by BNPLC on the
              Designated Sale Date (such excess being hereinafter called a
              "Deficiency") or (2) the Maximum Remarketing Obligation. As used
              herein, the "Maximum Remarketing Obligation" means a dollar amount
              determined in accordance with the following provisions:

                                   1) The "Maximum Remarketing Obligation" will
                     equal the product of (i) Stipulated Loss Value on the
                     Designated Sale Date, times (ii) 100% minus the Residual
                     Risk Percentage, provided that both of the following
                     conditions are satisfied:

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              (x) NAI shall not have elected to accelerate the Designated Sale
       Date as provided in clause (2) of the definition of Designated Sale Date
       in the Common Definitions and Provisions Agreement (Phase IV - Land).

              (y) No Event of Default, other than an Issue 97-1
       Non-performance-related Subjective Event of Default, shall occur on or be
       continuing on the Designated Sale Date.

                                   2) If either of the conditions listed in
                     subparagraph 1) preceding are not satisfied, the "Maximum
                     Remarketing Obligation" will equal the Break Even Price.

If any Supplemental Payment or other amount payable to BNPLC pursuant to this
subparagraph 1.(A) is not actually paid to BNPLC on the Designated Sale Date,
NAI shall pay interest on the past due amount computed at the Default Rate from
the Designated Sale Date.

              (B) Determinations Concerning Price.

                     (1) Determination of the Break Even Price. As used herein,
       "Break Even Price" means an amount equal, on the Designated Sale Date, to
       Stipulated Loss Value, plus all out-of-pocket costs and expenses
       (including appraisal costs, withholding taxes (if any) not constituting
       Excluded Taxes, and Attorneys' Fees) incurred by BNPLC in connection with
       any sale of BNPLC's interests in the Property under this Agreement or in
       connection with collecting payments due hereunder, but less the aggregate
       amounts (if any) of Direct Payments to Participants and Deposit Taker
       Losses (other than Excluded Deposit Taker Losses).

                     (2) Determination of Third Party Price. The Third Party
       Price required of any Applicable Purchaser purchasing from BNPLC under
       subparagraph 1.(A)(2)(a) will be determined as follows:

                            (a) NAI may give a notice (a "REMARKETING NOTICE")
              to BNPLC and to each of the Participants no earlier than one
              hundred twenty days before the Designated Sale Date and no later
              than ninety days before the Designated Sale Date, specifying an
              amount as the Third Party Price that NAI believes in good faith to
              constitute reasonably equivalent value for the Property and any
              Escrowed Proceeds. Once given, a Remarketing Notice shall not be
              rescinded or modified without BNPLC's written consent.

                            (b) If BNPLC believes in good faith that the Third
              Party Price specified by NAI in a Remarketing Notice does not
              constitute reasonably equivalent value for the Property and any
              Escrowed Proceeds, BNPLC may at any time before sixty days prior
              to the Designated Sale Date respond to the Remarketing Notice with
              a notice back to NAI, objecting to the Third Party Price so
              specified by NAI. If BNPLC receives a Remarketing Notice, yet does
              not respond with an objection as provided in the preceding
              sentence, the Third Party Price suggested by NAI in the
              Remarketing Notice will be the Third Party Price for purposes of
              this Agreement. If, however, BNPLC does respond with an objection
              as provided in this subparagraph, and if NAI and BNPLC do not

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              otherwise agree in writing upon a Third Party Price, then the
              Third Party Price will be the lesser of (I) fair market value of
              the Property, plus the amount of any Escrowed Proceeds, as
              determined by a professional independent appraiser satisfactory to
              BNPLC, or (II) the Break Even Price.

                            (c) If for any reason, including an acceleration of
              the Designated Sale Date as provided in the definition thereof in
              the Common Definitions and Provisions Agreement (Phase IV - Land),
              NAI does not deliver a Remarketing Notice to BNPLC within the time
              period specified above, then the Third Party Price will be an
              amount determined in good faith by BNPLC as constituting
              reasonably equivalent value for the Property and any Escrowed
              Proceeds, but in no event more than the Break Even Price.

If any payment to BNPLC by an Applicable Purchaser hereunder is held to
constitute a preference or a voidable transfer under Applicable Law, or must for
any other reason be refunded by BNPLC to the Applicable Purchaser or to another
Person, and if such payment to BNPLC reduced or had the effect of reducing a
Supplemental Payment or increased or had the effect of increasing any excess
sale proceeds paid to NAI pursuant to subparagraph 1(A)(2)(b) or pursuant to
subparagraph 2.(D), then NAI shall pay to BNPLC upon demand an amount equal to
the reduction of the Supplemental Payment or to the increase of the excess sale
proceeds paid to NAI, as applicable, and this Agreement shall continue to be
effective or shall be reinstated as necessary to permit BNPLC to enforce its
right to collect such amount from NAI.

              (C) Designation of the Purchaser. To give BNPLC the opportunity
before the Designated Sale Date to prepare the deed and other documents that
BNPLC must tender pursuant to Paragraph 3 (collectively, the "SALE CLOSING
DOCUMENTS"), NAI must, by a notice to BNPLC given at least seven days prior to
the Designated Sale Date, specify irrevocably, unequivocally and with
particularity the party who will purchase the Property in order to satisfy the
obligations of NAI set forth in subparagraph 1(A). If for any reason NAI fails
to so specify a party who will in accordance with the terms and conditions set
forth herein purchase the Property (be it NAI itself, an Affiliate of NAI or
another Applicable Purchaser), BNPLC shall be entitled to postpone the tender of
the Sale Closing Documents until a date after the Designated Sale Date and not
more than twenty days after NAI finally does so specify a party, but such
postponement will not relieve or postpone the obligation of NAI to make a
Supplemental Payment on the Designated Sale Date as provided in Paragraph
1.(A)(2)(c).

              (D) Effect of the Purchase Option and NAI's Initial Remarketing
Rights and Obligations on Subsequent Title Encumbrances. Any conveyance of the
Property to NAI or any Applicable Purchaser pursuant to this Paragraph 1.(A)
shall cut off and terminate any interest in the Land or other Property claimed
by, through or under BNPLC, including any interest claimed by the Participants
and including any Liens Removable by BNPLC (such as, but not limited to, any
judgment liens established against the Property because of a judgment rendered
against BNPLC and any leasehold or other interests conveyed by BNPLC in the
ordinary course of BNPLC's business), but not including personal obligations of
NAI to BNPLC under the Land Lease or other Operative Documents (including
obligations arising under the indemnities therein). Anyone accepting or taking
any interest in the Property by or through BNPLC after the date of this
Agreement shall acquire such interest subject to the Purchase Option and NAI's

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Initial Remarketing Rights and Obligations. Further, NAI and any Applicable
Purchaser shall be entitled to pay any payment required by this Agreement for
the purchase of the Property directly to BNPLC notwithstanding any prior
conveyance or assignment by BNPLC, voluntary or otherwise, of any right or
interest in this Agreement or the Property, and neither NAI nor any Applicable
Purchaser shall be responsible for the proper distribution or application of any
such payments by BNPLC; and any such payment to BNPLC shall discharge the
obligation of NAI to cause such payment to all Persons claiming an interest in
such payment. Contemporaneously with the execution of this Agreement, the
parties shall record a memorandum of this Agreement for purposes of effecting
constructive notice to all Persons of NAI's rights under this Agreement,
including its rights under this subparagraph.

              (E) Security for the Purchase Option and NAI's Initial Remarketing
Rights and Obligations. To secure BNPLC's obligation to sell the Property
pursuant to Paragraph 1.(A) and to pay any damages to NAI caused by a breach of
such obligations, including any such breach caused by a rejection or termination
of this Agreement in any bankruptcy or insolvency proceeding instituted by or
against BNPLC, as debtor, BNPLC does hereby grant to NAI a lien and security
interest against all rights, title and interests of BNPLC from time to time in
and to the Land and other Property. NAI may enforce such lien and security
interest judicially after any such breach by BNPLC, but not otherwise.
Contemporaneously with the execution of this Agreement, NAI and BNPLC will
execute a memorandum of this Agreement which is in recordable form and which
specifically references the lien granted in this subparagraph, and NAI shall be
entitled to record such memorandum at any time prior to the Designated Sale
Date.

              (F) Delivery of Books and Records If BNPLC Retains the Property.
Unless NAI or its Affiliate or another Applicable Purchaser purchases the
Property pursuant to Paragraph 1.(A), promptly after the Designated Sale Date
NAI shall deliver to BNPLC copies of books and records of NAI which will be
necessary or useful to any future owner's or occupant's use of the Property in
the manner permitted by the Land Lease.

       2.     NAI'S RIGHTS AND OPTIONS AFTER THE DESIGNATED SALE DATE.

              (A) NAI's Extended Right to Remarket. During the two years
following the Designated Sale Date ("NAI'S EXTENDED REMARKETING PERIOD"), NAI
shall have the right ("NAI'S EXTENDED REMARKETING RIGHT") to cause an Applicable
Purchaser who is not an Affiliate of NAI to purchase the Property for a cash
purchase price not below the lesser of (I) the Minimum Extended Remarketing
Price (as defined below), or (II) if applicable, the Third Party Target Price
(as defined below) specified in any Third Party Sale Notice (as defined below)
given by BNPLC pursuant to subparagraph 2.(C)(2) within the ninety days prior to
the date (the "FINAL SALE DATE") upon which BNPLC receives such purchase price
from the Applicable Purchaser. NAI's Extended Remarketing Right shall, however,
be subject to all of the following conditions:

                     (1) The Property and BNPLC's interest in Escrowed Proceeds,
       if any, shall not have been sold on the Designated Sale Date as provided
       in Paragraph 1.

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                     (2) No Voluntary Retention of the Property shall have
       occurred as described in subparagraph 1.(A)(2)(a).

                     (3) NAI's Extended Remarketing Right shall not have been
       terminated pursuant to subparagraph 4.(D) below because of NAI's failure
       to make any Supplemental Payment required on the Designated Sale Date.

                     (4) NAI's Extended Remarketing Right shall not have been
       terminated by BNPLC pursuant to subparagraph 4.(E) below to facilitate
       BNPLC's sale of the Property to a third party in accordance with
       subparagraph 2.(C).

                     (5) At least thirty days prior to the Final Sale Date, NAI
       shall have notified BNPLC of (x) the date proposed by NAI as the Final
       Sale Date (which must be a Business Day), (y) the full legal name of the
       Applicable Purchaser and such other information as will be required to
       prepare the Sale Closing Documents, and (z) the amount of the purchase
       price that the Applicable Purchaser will pay (consistent with the minimum
       required pursuant to the other provisions of this subparagraph 2.(A)) for
       the Property.

              (B) Definition of Minimum Extended Remarketing Price. As used
herein, "MINIMUM EXTENDED REMARKETING PRICE" means an amount equal to the sum of
the following:

                     (1) the amount by which the Break Even Price computed on
       the Designated Sale Date exceeds any Supplemental Payment actually paid
       to BNPLC on the Designated Sale Date, together with interest on such
       excess computed at the Default Rate from the period commencing on the
       Designated Sale Date and ending on the Final Sale Date, plus

                     (2) all out-of-pocket costs and expenses (including
       withholding taxes [if any], other than Excluded Taxes, and Attorneys'
       Fees) incurred by BNPLC in connection with the sale to the Applicable
       Purchaser, to the extent not already included in the computation of Break
       Even Price, and plus

                     (3) the sum of all Impositions, insurance premiums and
       other Losses of every kind suffered or incurred by BNPLC or any other
       Interested Party with respect to the ownership, operation or maintenance
       of the Property on or after the Designated Sale Date (except to the
       extent already reimbursed by any lessee of the Property after the
       Designated Sale Date), together with interest on such Impositions,
       insurance premiums and other Losses computed at the Default Rate from the
       date paid or incurred to the Final Sale Date.

If, however, Losses described in the preceding clause (3) consist of claims
against BNPLC or another Interested Party that have not been liquidated prior to
the Final Sale Date (and, thus, such Losses have yet to be fixed in amount as of
the Final Sale Date), then NAI may elect to exclude any such Losses from the
computation of the Minimum Extended Remarketing Price by providing to BNPLC, for
the benefit of BNPLC and other Interested Parties, a written agreement to
indemnify and defend BNPLC and other Interested Parties against such Losses. To
be effective hereunder for purposes of reducing the Minimum Extended Remarketing
Price (and,

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thus, the Break Even Price), any such written indemnity must be fully executed
and delivered by NAI on or prior to the Final Sale Date, must include provisions
comparable to subparagraphs 5(c)(ii), (iii), (iv) and (v) of the Land Lease and
otherwise must be in form and substance satisfactory to BNPLC.

              (C) BNPLC's Right to Sell. After the Designated Sale Date, if the
Property has not already been sold by BNPLC pursuant to Paragraph 2 or this
Paragraph 2, BNPLC shall have the right to sell the Property or offer the
Property for sale to any third party on any terms believed to be appropriate by
BNPLC in its sole good faith business judgment; provided, however, that so long
as the conditions to NAI's Extended Remarketing Rights specified in subparagraph
2.(A) continue to be satisfied:

                     (1) BNPLC shall not sell the Property to an Affiliate of
       BNPLC on terms less favorable than those which BNPLC would require from a
       prospective purchaser not an Affiliate of BNPLC;

                     (2) If BNPLC receives or desires to make a written proposal
       (whether in the form of a "letter of intent" or other nonbinding
       expression of interest or in the form of a more definitive purchase and
       sale agreement) for a sale of the Property to a prospective purchaser (a
       "THIRD PARTY SALE PROPOSAL"), and if on the basis of such Third Party
       Sale Proposal BNPLC expects to enter into or to pursue negotiations for a
       definitive purchase and sale agreement with the prospective purchaser,
       then prior to executing any such definitive agreement, BNPLC shall submit
       the Third Party Sale Proposal to NAI with a notice (the "THIRD PARTY SALE
       NOTICE") explaining that (A) BNPLC is then prepared to accept a price not
       below an amount specified in such Third Party Sale Notice (the "THIRD
       PARTY TARGET Price") if BNPLC and the prospective purchaser reach
       agreement on other terms and conditions to be incorporated into a
       definitive purchase and sale agreement, and (B) NAI's Extended
       Remarketing Right may be terminated pursuant to subparagraph 4.(E) of
       this Agreement unless NAI causes an Applicable Purchaser to consummate a
       purchase of the Property pursuant to this Paragraph 2 within ninety days
       after the date of such Third Party Sale Notice.

              (D) NAI's Right to Excess Sales Proceeds. If the cash price
actually paid by any third party purchasing the Property from BNPLC during NAI's
Extended Remarketing Period, including any price paid by an Applicable Purchaser
purchasing from BNPLC pursuant to this Paragraph 2, exceeds the Minimum Extended
Remarketing Price, then NAI shall be entitled to the excess; provided, that
BNPLC may offset and retain from the excess any and all sums that are then due
and unpaid from NAI to BNPLC under any of the Operative Documents.

              (E) Permitted Transfers During NAI's Extended Remarketing Period.
Any "Permitted Transfer" described in clause (6) of the definition thereof in
the Common Definitions and Provisions Agreement (Phase IV - Land) to an
Affiliate of BNPLC or that covers BNPLC's entire interest in the Land will be
subject to NAI's Extended Remarketing Right if, at the time of the Permitted
Transfer, NAI's Extended Remarketing Right has not expired or been terminated as
provided herein. Any other Permitted Transfer described in clause (6) of the
definition thereof, however, will not be subject to NAI's Extended Remarketing
Right. Thus, for example, BNPLC's conveyance of a utility easement or space
lease more than thirty days after the

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Designated Sale Date to a Person not an Affiliate of BNPLC shall not be subject
to NAI's Extended Remarketing Right, though following the conveyance of the
lesser estate, NAI's Extended Remarketing Right may continue to apply to BNPLC's
remaining interest in the Land and any Personal Property.

       3. TERMS OF CONVEYANCE UPON PURCHASE. As necessary to consummate any sale
of the Property to NAI or an Applicable Purchaser pursuant to this Agreement,
BNPLC must, subject to any postponement permitted by subparagraph 1.(C),
promptly after the tender of the purchase price and any other payments to BNPLC
required pursuant to Paragraph 1 or Paragraph 2, as applicable, convey all of
BNPLC's right, title and interest in the Land and other Property to NAI or the
Applicable Purchaser, as the case may be, by BNPLC's execution, acknowledgment
(where appropriate) and delivery of the Sale Closing Documents. Such conveyance
by BNPLC will be subject only to the Permitted Encumbrances and any other
encumbrances that do not constitute Liens Removable by BNPLC. However, such
conveyance shall not include the rights of BNPLC or other Interested Parties
under the indemnities provided in the Operative Documents, including rights to
any payments then due from NAI under the indemnities or that may become due
thereafter because of any expense or liability incurred by BNPLC or another
Interested Party resulting in whole or in part from events or circumstances
occurring or alleged to have occurred before such conveyance. All costs, both
foreseen and unforeseen, of any purchase by NAI or an Applicable Purchaser
hereunder shall be the responsibility of the purchaser. The Sale Closing
Documents used to accomplish such conveyance shall consist of the following: (1)
a Corporation Grant Deed in the form attached as Exhibit B-1 or Exhibit B-2 or
Exhibit B-4, as required by Exhibit B, (2) if required by Exhibit B, a Ground
Lease in the form attached as Exhibit B-3, which NAI or the Applicable Purchase
must execute and return to BNPLC, (3) a Bill of Sale and Assignment in the form
attached as Exhibit C, (4) an Acknowledgment of Disclaimer of Representations
and Warranties, in the form attached as Exhibit D, which NAI or the Applicable
Purchaser must execute and return to BNPLC, (5) a Secretary's Certificate in the
form attached as Exhibit E, and (6) a certificate concerning tax withholding in
the form attached as Exhibit F. If for any reason BNPLC fails to tender the Sale
Closing Documents as required by this Paragraph 3, BNPLC may cure such refusal
at any time before thirty days after receipt of a demand for such cure from NAI.

       4.     SURVIVAL AND TERMINATION OF THE RIGHTS AND OBLIGATIONS OF NAI AND
              BNPLC.

              (A) Status of this Agreement Generally. Except as expressly
provided herein, this Agreement shall not terminate; nor shall NAI have any
right to terminate this Agreement; nor shall NAI be entitled to any reduction of
the Break Even Price, any Deficiency, the Maximum Remarketing Obligation, any
Supplemental Payment or the Minimum Extended Remarketing Price hereunder; nor
shall the obligations of NAI to BNPLC under Paragraph 1 be affected, by reason
of (i) any damage to or the destruction of all or any part of the Property from
whatever cause (though it is understood that NAI will receive any remaining
Escrowed Proceeds yet to be applied as provided in the Land Lease that may
result from such damage if NAI purchases the Property and the Escrowed Proceeds
as herein provided), (ii) the taking of or damage to the Property or any portion
thereof by eminent domain or otherwise for any reason (though it is understood
that NAI will receive any remaining Escrowed Proceeds yet to be applied as
provided in the Land Lease that may result from such taking or damage if NAI

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purchases the Property and the Escrowed Proceeds as herein provided), (iii) the
prohibition, limitation or restriction of NAI's use of all or any portion of the
Property or any interference with such use by governmental action or otherwise,
(iv) any eviction of NAI or any party claiming under NAI by paramount title or
otherwise, (v) NAI's prior acquisition or ownership of any interest in the
Property, (vi) any default on the part of BNPLC under this Agreement, the Land
Lease or any other agreement to which BNPLC is a party, or (vii) any other
cause, whether similar or dissimilar to the foregoing, any existing or future
law to the contrary notwithstanding. It is the intention of the parties hereto
that the obligations of NAI to make payment to BNPLC hereunder shall be separate
and independent covenants and agreements from BNPLC's obligations under this
Agreement or any other agreement between BNPLC and NAI; provided, however, that
nothing in this subparagraph shall excuse BNPLC from its obligation to tender
the Sale Closing Documents in substantially the form attached hereto as exhibits
when required by Paragraph 3. Further, nothing in this subparagraph shall be
construed as a waiver by NAI of any right NAI may have at law or in equity to
the following remedies, whether because of BNPLC's failure to remove a Lien
Removable by BNPLC or because of any other default by BNPLC under this
Agreement: (i) the recovery of monetary damages, (ii) injunctive relief in case
of the violation, or attempted or threatened violation, by BNPLC of any of the
express covenants, agreements, conditions or provisions of this Agreement which
are binding upon BNPLC, or (iii) a decree compelling performance by BNPLC of any
of the express covenants, agreements, conditions or provisions of this Agreement
which are binding upon BNPLC.

              (B) Intentionally Deleted.

              (C) Intentionally Deleted.

              (D) Automatic Termination of NAI's Rights. Without limiting
BNPLC's right to enforce NAI's obligation to pay any Supplemental Payment or
other amounts required by this Agreement, the rights of NAI (to be distinguished
from the obligations of NAI) included in NAI's Initial Remarketing Rights and
Obligations, the Purchase Option and NAI's Extended Remarketing Rights shall all
terminate automatically if NAI shall fail to pay the full amount of any
Supplemental Payment required by subparagraph 1.(A)(2)(c) on the Designated Sale
Date or if BNPLC shall elect a Voluntary Retention of the Property as provided
in subparagraph 1.(A)(2)(a). However, notwithstanding anything in this
subparagraph to the contrary, even after a failure to pay any required
Supplemental Payment on the Designated Sale Date, NAI may nonetheless tender to
BNPLC the full Break Even Price and all amounts then due under the Operative
Documents, together with interest on the total Break Even Price computed at the
Default Rate from the Designated Sale Date to the date of tender, on any
Business Day within thirty days after the Designated Sale Date, and if presented
with such a tender within thirty days after the Designated Sale Date, BNPLC must
accept it and promptly thereafter deliver any Escrowed Proceeds and the Sale
Closing Documents listed in Paragraph 3 to NAI.

              (E) Termination of NAI's Extended Remarketing Rights to Permit a
Sale by BNPLC. At any time more than ninety days after BNPLC has delivered a
Third Party Sale Notice to NAI as described in subparagraph 2.(C)(2), BNPLC may
terminate NAI's Extended Remarketing Rights contemporaneously with the
consummation of a sale of the Property by BNPLC to any third party (be it the
prospective purchaser named in the Third Party Sale Notice or another third
party) at a price equal to or in excess of the Third Party Target Price
specified in

                                       9
<PAGE>   13

the Third Party Sale Notice, so as to permit the sale of the Property
unencumbered by NAI's Extended Remarketing Rights.

              (F) Payment Only to BNPLC. All amounts payable under this
Agreement by NAI and, if applicable, by an Applicable Purchaser must be paid
directly to BNPLC, and no payment to any other party shall be effective for the
purposes of this Agreement. In addition to the payments required under
subparagraph 1.(A), on the Designated Sale Date NAI must pay all amounts then
due to BNPLC under the Land Lease or other Operative Documents.

              (G) Remedies Under the Other Operative Documents. No repossession
of or re-entering upon the Property or exercise of any other remedies available
to BNPLC under the Land Lease or other Operative Documents shall terminate NAI's
rights or obligations hereunder, all of which shall survive BNPLC's exercise of
remedies under the other Operative Documents. NAI acknowledges that the
consideration for this Agreement is separate and independent of the
consideration for the Land Lease and the Closing Certificate, and NAI's
obligations hereunder shall not be affected or impaired by any event or
circumstance that would excuse NAI from performance of its obligations under
such other Operative Documents.

              (H) Occupancy by NAI Prior to Closing of a Sale. Prior to the
closing of any sale of the Property to NAI or an Applicable Purchaser hereunder,
NAI's occupancy of the Land and its use of the Property shall continue to be
subject to the terms and conditions of the Land Lease, including the terms
setting forth NAI's obligation to pay rent, prior to any termination or
expiration of the Land Lease pursuant to its express terms and conditions.

       5. SECURITY FOR NAI'S OBLIGATIONS; RETURN OF FUNDS. NAI's obligations
under this Agreement are secured by the Pledge Agreement, reference to which is
hereby made for a description of the Collateral covered thereby and the rights
and remedies provided to BNPLC thereby. Although the collateral agent appointed
for BNPLC as provided in the Pledge Agreement shall be entitled to hold all
Collateral as security for the full and faithful performance by NAI of NAI's
covenants and obligations under this Agreement, the Collateral shall not be
considered an advance payment of the Break Even Price or any Supplemental
Payment or a measure of BNPLC's damages should NAI breach this Agreement. If NAI
does breach this Agreement and fails to cure the same within any time specified
herein for the cure, BNPLC may, from time to time, without prejudice to any
other remedy and without notice to NAI, require the collateral agent to
immediately apply the proceeds of any disposition of the Collateral (and any
cash included in the Collateral) to amounts then due hereunder from NAI. If by a
Permitted Transfer BNPLC conveys its interest in the Property before the
Designated Sale Date, BNPLC may also assign BNPLC's interest in the Collateral
to the transferee. BNPLC shall be entitled to return any Collateral not sold or
used to satisfy the obligations secured by the Pledge Agreement directly to NAI
notwithstanding any prior actual or attempted conveyance or assignment by NAI,
voluntary or otherwise, of any right to receive the same; neither BNPLC nor the
collateral agent named in the Pledge Agreement shall be responsible for the
proper distribution or application by NAI of any such Collateral returned to
NAI; and any such return of Collateral to NAI shall discharge any obligation of
BNPLC to deliver such Collateral to all Persons claiming an interest in the
Collateral. Further, BNPLC shall be entitled to deliver any Escrowed Proceeds it
holds on the Designated Sale Date directly to NAI or to any Applicable Purchaser
purchasing BNPLC's interest in the Property and the Escrowed Proceeds pursuant
to

                                       10
<PAGE>   14

this Agreement notwithstanding any prior actual or attempted conveyance or
assignment by NAI, voluntary or otherwise, of any right to receive the same;
BNPLC shall not be responsible for the proper distribution or application by NAI
or any Applicable Purchaser of any such Escrowed Proceeds paid over to NAI or
the Applicable Purchaser; and any such payment of Escrowed Proceeds to NAI or an
Applicable Purchaser shall discharge any obligation of BNPLC to deliver the same
to all Persons claiming an interest therein.

       6. CERTAIN REMEDIES CUMULATIVE. No right or remedy herein conferred upon
or reserved to BNPLC is intended to be exclusive of any other right or remedy
BNPLC has with respect to the Property, and each and every right and remedy
shall be cumulative and in addition to any other right or remedy given hereunder
or now or hereafter existing at law or in equity or by statute. In addition to
other remedies available under this Agreement, either party shall be entitled,
to the extent permitted by applicable law, to a decree compelling performance of
any of the other party's agreements hereunder.

       7. ATTORNEYS' FEES AND LEGAL EXPENSES. If either party to this Agreement
commences any legal action or other proceeding to enforce any of the terms of
this Agreement, or because of any breach by the other party or dispute
hereunder, the party prevailing in such action or proceeding shall be entitled
to recover from the other party all Attorneys' Fees incurred in connection
therewith, whether or not such controversy, claim or dispute is prosecuted to a
final judgment. Any such Attorneys' Fees incurred by either party in enforcing a
judgment in its favor under this Agreement shall be recoverable separately from
such judgment, and the obligation for such Attorneys' Fees is intended to be
severable from other provisions of this Agreement and not to be merged into any
such judgment.

       8. ESTOPPEL CERTIFICATE. Upon request by BNPLC, NAI shall execute,
acknowledge and deliver a written statement certifying that this Agreement is
unmodified and in full effect (or, if there have been modifications, that this
Agreement is in full effect as modified, and setting forth such modification)
and either stating that no default exists hereunder or specifying each such
default of which NAI has knowledge. Any such statement may be relied upon by any
Participant or prospective purchaser or assignee of BNPLC with respect to the
Property.

       9. SUCCESSORS AND ASSIGNS. The terms, provisions, covenants and
conditions hereof shall be binding upon NAI and BNPLC and their respective
permitted successors and assigns and shall inure to the benefit of NAI and BNPLC
and all permitted transferees, mortgagees, successors and assignees of NAI and
BNPLC with respect to the Property; provided, that (A) the rights of BNPLC
hereunder shall not pass to NAI or any Applicable Purchaser or any subsequent
owner claiming through NAI or an Applicable Purchaser, (B) BNPLC shall not
assign this Agreement or any rights hereunder except pursuant to a Permitted
Transfer, and (C) NAI shall not assign this Agreement or any rights hereunder
without the prior written consent of BNPLC.

                                       11
<PAGE>   15

       10. AMENDMENT AND RESTATEMENT. This Agreement amends, restates and
replaces the Prior Purchase Agreement referenced in the recitals at the
beginning of this Agreement.

                            [Signature pages follow.]

                                       12
<PAGE>   16

       IN WITNESS WHEREOF, NAI and BNPLC have caused this Purchase Agreement
(Phase IV - Land) to be executed as of October 2, 2000.

                                        "NAI"

                                        NETWORK APPLIANCE, INC.

                                        By:
                                           -------------------------------------
                                        Name:
                                             -----------------------------------
                                        Title:
                                              ----------------------------------

                                       13
<PAGE>   17

[Continuation of signature pages to Purchase Agreement (Phase IV - Land) dated
to be effective October 2, 2000.]

                                        "BNPLC"

                                        BNP LEASING CORPORATION

                                        By:
                                           -------------------------------------
                                            Lloyd G. Cox, Senior Vice President

                                       14
<PAGE>   18

                                    EXHIBIT A

                                LEGAL DESCRIPTION

The real property located in the City of Sunnyvale, County of Santa Clara, State
of California, described as follows:

TRACT 1:

All of Parcel 2, as shown upon that certain Map entitled, "Parcel Map lying
within the City of Sunnyvale, being a resubdivision of a portion of Parcel B, as
shown upon that certain Parcel Map recorded in Book 345 of Maps, at page 20,
Santa Clara County Records", which Map was filed for record in the Office of the
Recorder of the County of Santa Clara, State of California, on November 17,
1976, in Book 383 of Maps, at page 35.

TRACT 2:

Together with an easement for vehicles parking over the following described
property:

A 7-foot strip of land for parking easement purposes over a portion of Parcel A,
as said Parcel A is shown on that certain Parcel Map filed for record on
November 10, 1974 in Book 292 of Maps, at page 41, records of said County, and
being more particularly described as follows:

Commencing at the Northeast corner of said Parcel A; thence North 75
degrees 8'27" West 500.00 feet along the Northeasterly line of said Parcel A;
thence South 14 degrees 51'33" West 7.00 feet; thence parallel to Northeasterly
line of said Parcel A, South 75 degrees 08'27" East 500.00 feet to the Southeast
line of said Parcel A, North 14 degrees 51'33" East 7.00 feet to the point of
beginning.

APN:  110-32-002
ARB:  110-3-65.02

TRACT 3:

Parcel 1, as shown on that certain Parcel Map which filed for record in the
office of the recorder of the County of Santa Clara, State of California on July
7, 1994, in Book 657 of Parcel Maps, Page 9.

APN:  110-32-6
ARB:  110-3-x65

TRACT 4:

Parcel 2, as shown on that certain Parcel Map which filed for record in the
office of the recorder of the County of Santa Clara, State of California on July
7, 1994, in Book 657 of Parcel Maps, Page 9.

APN:  110-32-7
ARB:  110-3-x65

                               EXHIBIT A - PAGE 1
<PAGE>   19

TRACT 5:

Parcel 2, as shown on that certain parcel Map which filed for record in the
office of the recorder of the County of Santa Clara, State of California on
October 7, 1998, in Book 708 of Parcel Maps, Pages 51 and 52.

APN:  110-32-12
ARB:  110-03-65.11

                               EXHIBIT A - PAGE 2
<PAGE>   20

                                    EXHIBIT B

              REQUIREMENTS RE: FORM OF GRANT DEED AND GROUND LEASE

The form of deed to be used to convey BNPLC's interest in the Land to NAI or an
Applicable Purchaser will depend upon whether BNPLC's interest in the
Improvements has been or is being conveyed at the same time to the same party.

If BNPLC's interests in both the Land and the Improvements are to be conveyed to
NAI or an Applicable Purchaser at the same time, because a sale under this
Purchase Agreement and a sale under the Other Purchase Agreement (covering the
Improvements) are being consummated at the same time and to the same party, then
the one deed in form attached as Exhibit B-1 will be used to convey both.

If, however, a sale of BNPLC's interest in the Improvements pursuant to the
Other Purchase Agreement has not been consummated before, and is not being
consummated contemporaneously with the sale of BNPLC's interest in the Land
under this Agreement, then BNPLC's interest in the Land will be conveyed by a
deed in the from attached as Exhibit B-2, and BNPLC and the grantee under such
deed shall, as a condition to BNPLC's obligation to deliver the deed, execute
and deliver a Ground Lease covering the Land in the form attached hereto as
Exhibit B-3.

Finally, BNPLC's interest in the Land will be conveyed by a deed in the from
attached as Exhibit B-4 if BNPLC's interest in the Improvements has been sold
pursuant to the Other Purchase Agreement before a sale of BNPLC's interest in
the Land under this Agreement, or if BNPLC's interest in the Improvements is
being sold contemporaneously with a sale of BNPLC's interest in the Land, but
the purchaser of the Improvements is not the same as the purchaser of the Land.

                               EXHIBIT B - PAGE 1
<PAGE>   21

                                   EXHIBIT B-1

                             CORPORATION GRANT DEED

RECORDING REQUESTED BY
AND WHEN RECORDED MAIL TO:

NAME:                 [NAI or the Applicable Purchaser]
ADDRESS:
                      ----------------------------------------
ATTN:
                      ----------------------------------------
CITY:
                      ----------------------------------------
STATE:
                      ----------------------------------------
Zip:
                      ----------------------------------------

MAIL TAX STATEMENTS TO:

NAME:                 [NAI or the Applicable Purchaser]
ADDRESS:
                      ----------------------------------------
ATTN:
                      ----------------------------------------
CITY:
                      ----------------------------------------
STATE:
                      ----------------------------------------
Zip:
                      ----------------------------------------

                             CORPORATION GRANT DEED
                        (COVERING LAND AND IMPROVEMENTS)

FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, BNP
LEASING CORPORATION, a Delaware corporation ("Grantor"), hereby grants to [NAI
or the Applicable Purchaser] ("Grantee") all of Grantor's interest in the land
situated in Sunnyvale, California, described on Annex A attached hereto and
hereby made a part hereof and all improvements on such land, together with the
any other right, title and interest of Grantor in and to any easements,
rights-of-way, privileges and other rights appurtenant to such land or the
improvements thereon; provided, however, that this grant is subject to the
encumbrances described on Annex B (the "Permitted Encumbrances"). Grantee hereby
assumes the obligations

                              EXHIBIT B-1 - PAGE 1
<PAGE>   22

(including any personal obligations) of Grantor, if any, created by or under,
and agrees to be bound by the terms and conditions of, the Permitted
Encumbrances to the extent that the same concern or apply to the land or
improvements conveyed by this deed.

                                   BNP LEASING CORPORATION

Date:  As of                        By:
              ----------------             -------------------------------------
                                           Its:

                                    Attest:
                                           -------------------------------------
                                           Its:
                                    [NAI or Applicable Purchaser]

Date:  As of                        By:
              ----------------             -------------------------------------
                                           Its:

                                    Attest:
                                           -------------------------------------
                                           Its:

STATE OF  ____________________       )
                                     )           SS
COUNTY OF ____________________       )

       On ___________________ before me, ________, personally appeared ________
and ___________, personally known to me (or proved to me on the basis of
satisfactory evidence) to be the persons whose names are subscribed to the
within instrument and acknowledged to me that they executed the same in their
authorized capacities, and that by their signatures on the instrument the
person, or the entity upon behalf of which the persons acted, executed the
instrument.

       WITNESS my hand and official seal.

Signature
         ---------------------------------------

                               EXHIBIT B-1 PAGE 2
<PAGE>   23

STATE OF  ____________________       )
                                     )           SS
COUNTY OF ____________________       )

       On ___________________ before me, ____________personally appeared
____________, and ____________, personally known to me (or proved to me on the
basis of satisfactory evidence) to be the persons whose names are subscribed to
the within instrument and acknowledged to me that they executed the same in
their authorized capacities, and that by their signatures on the instrument the
person, or the entity upon behalf of which the persons acted, executed the
instrument.

       WITNESS my hand and official seal.

Signature
         ---------------------------------------

                              EXHIBIT B-1 - PAGE 3
<PAGE>   24

                                     ANNEX A

                                LEGAL DESCRIPTION

[DRAFTING NOTE: TO THE EXTENT THAT THE "LAND" COVERED BY THE LAND LEASE CHANGES
FROM TIME TO TIME BECAUSE OF ADJUSTMENTS FOR WHICH NAI REQUESTS BNPLC'S CONSENT
OR APPROVAL, SO TOO WILL THE DESCRIPTION OF THE LAND BELOW CHANGE. ANY SUCH
CHANGES WILL BE INCORPORATED INTO THE DESCRIPTION BELOW AND THIS "DRAFTING NOTE"
WILL BE DELETED BEFORE THE DEED TO WHICH THIS DESCRIPTION IS ATTACHED IS
ACTUALLY EXECUTED AND DELIVERED.]

The real property located in the City of Sunnyvale, County of Santa Clara, State
of California, described as follows:

TRACT 1:

All of Parcel 2, as shown upon that certain Map entitled, "Parcel Map lying
within the City of Sunnyvale, being a resubdivision of a portion of Parcel B, as
shown upon that certain Parcel Map recorded in Book 345 of Maps, at page 20,
Santa Clara County Records", which Map was filed for record in the Office of the
Recorder of the County of Santa Clara, State of California, on November 17,
1976, in Book 383 of Maps, at page 35.

TRACT 2:

Together with an easement for vehicles parking over the following described
property:

A 7-foot strip of land for parking easement purposes over a portion of Parcel A,
as said Parcel A is shown on that certain Parcel Map filed for record on
November 10, 1974 in Book 292 of Maps, at page 41, records of said County, and
being more particularly described as follows:

Commencing at the Northeast corner of said Parcel A; thence North 75
degrees 8'27" West 500.00 feet along the Northeasterly line of said Parcel A;
thence South 14 degrees 51'33" West 7.00 feet; thence parallel to Northeasterly
line of said Parcel A, South 75 degrees 08'27" East 500.00 feet to the Southeast
line of said Parcel A, North 14 degrees 51'33" East 7.00 feet to the point of
beginning.

APN:  110-32-002
ARB:  110-3-65.02

TRACT 3:

Parcel 1, as shown on that certain Parcel Map which filed for record in the
office of the recorder of the County of Santa Clara, State of California on July
7, 1994, in Book 657 of Parcel Maps, Page 9.

APN:  110-32-6
ARB:  110-3-x65

                              EXHIBIT B-1 - PAGE 4
<PAGE>   25

TRACT 4:

Parcel 2, as shown on that certain Parcel Map which filed for record in the
office of the recorder of the County of Santa Clara, State of California on July
7, 1994, in Book 657 of Parcel Maps, Page 9.

APN:  110-32-7
ARB:  110-3-x65

TRACT 5:

Parcel 2, as shown on that certain parcel Map which filed for record in the
office of the recorder of the County of Santa Clara, State of California on
October 7, 1998, in Book 708 of Parcel Maps, Pages 51 and 52.

APN:  110-32-12
ARB:  110-03-65.11

                              EXHIBIT B-1 - PAGE 5
<PAGE>   26

                                     ANNEX B

                             PERMITTED ENCUMBRANCES

[DRAFTING NOTE: TO THE EXTENT THAT ENCUMBRANCES (OTHER THAN "LIENS REMOVABLE BY
BNPLC") ARE IDENTIFIED IN ADDITION TO THOSE DESCRIBED BELOW, SUCH ADDITIONAL
ENCUMBRANCES WILL BE ADDED TO THE LIST BELOW AND THIS "DRAFTING NOTE" WILL BE
DELETED BEFORE THIS DEED IS ACTUALLY EXECUTED AND DELIVERED BY BNPLC. SUCH
ADDITIONAL ENCUMBRANCES WOULD INCLUDE ANY NEW ENCUMBRANCES APPROVED BY BNPLC AS
"PERMITTED ENCUMBRANCES" UNDER THE LAND LEASE OR THE OTHER LEASE AGREEMENT FROM
TIME TO TIME OR BECAUSE OF NAI'S REQUEST FOR BNPLC'S CONSENT OR APPROVAL TO AN
ADJUSTMENT.]

       This conveyance is subject to all encumbrances not constituting a "Lien
Removable by BNPLC" (as defined in the Common Definitions and Provisions
Agreement (Phase IV - Land) incorporated by reference into the Lease Agreement
(Phase IV - Land) referenced in the last item of the list below), including the
following matters to the extent the same are still valid and in force:

TRACT 1 and 2:

1.     TAXES for the fiscal year 2000-2001, a lien not yet due or payable.

2.     THE LIEN of supplemental taxes, if any, assessed pursuant to Chapter 3.5
       commencing with Section 75 of the California Revenue and Taxation Code,
       resulting from changes of ownership or completion of construction on or
       after the date hereof.

3.     LIMITATIONS, covenants, conditions, restrictions, reservations,
       exceptions or terms, but deleting any covenant, condition or restriction
       indicating a preference, limitation or discrimination based on race,
       color, religion, sex, handicap, familial status, or national origin to
       the extent such covenants, conditions or restrictions violate 42 USC
       3604(c), contained in the document recorded December 23, 1971 in Book
       9640, page 443, Official Records.

       Assignments and Assumption, executed by Moffett Park Associates, a
       partnership to Prudential Insurance Company of America, recorded February
       8, 1977 in Book C583, page 685, Official Records.

4.     AGREEMENT on the terms and conditions contained therein,

       For        : Waiver of Construction Credits
       Between    : Moffett Park Associates
       And        : None Shown
       Recorded   : September 28, 1976 in Book C307, page 346, Official Records.

                               EXHIBIT B-1 - PAGE 6
<PAGE>   27

5.     EASEMENT for the purposes stated herein and incidents thereto

       Purpose    : Construction, reconstruction, operation, repair,
                  maintenance, replacement, relocation and enlargement of
                  Public Utilities
       Granted to : The City of Sunnyvale, a municipal corporation
       Recorded   : November 16, 1976 in Book C414, page 105, Official Records
       Affects    : as follows:

       Being a portion of Parcel B as shown on that certain Parcel Map recorded
       August 28, 1974 in Book of Maps, at page 20, Santa Clara County Records;
       a strip of land 10 feet in width, measured at right angles lying
       Northerly and Easterly of and contiguous to the following described line;
       beginning at the intersection of the Westerly line of Crossman Road, 90
       feet in width, with the Northerly line of Parcel A as shown on said Map;
       thence North 75 degrees 7' 58" West along said Northerly line of Parcel A
       450.13 feet; thence leaving said Northerly line, North 30 degrees 7' 48"
       West 210.69 feet; thence North 75 degrees 8' 27" West 391.04 feet to a
       point on the Easterly line of the proposed Geneva Drive, 60 feet wide,
       said point being the terminus of said easement.

6.     ANY RIGHTS, interests, or claims adverse to those of the vestee herein
       which may exist or arise by reason of the following facts shown on a
       survey plat entitled ALTA/ACSM Land Title Survey for: Network Appliance,
       1345 Crossman Avenue, dated September 20, 2000, prepared by Kier &
       Wright, Job No. 97208-16.

TRACT 3:

1.     TAXES for the fiscal year 2000-2001, a lien not yet due or payable.

2.     THE LIEN of supplemental taxes, if any, assessed pursuant to Chapter 3.5
       commencing with Section 75 of the California Revenue and Taxation Code,
       resulting from changes of ownership or completion of construction on or
       after the date hereof.

3.     EASEMENT for the purposes stated herein and incidents thereto

       Purpose      : Slope Easement
       In favor of  : City of Sunnyvale
       Recorded     : October 9, 1964 in Book 6695, page 430, Official Records
       Affects      : Easterly 18 feet, as shown on a survey plat entitled
                    ALTA/ACSM Land Title Survey for: Network Appliance, 1345
                    Crossman Avenue, dated September 20, 2000, prepared by
                    Kier & Wright, Job No. 97208-16.

4.     EASEMENT for the purposes stated herein and incidents thereto

       Purpose      : Public utilities easement
       In favor of  : City of Sunnyvale
       Recorded     : October 9, 1964 in Book 6695, page 450, Official Records
       Affects      : Easterly 7 feet, as shown on a survey plat entitled
                    ALTA/ACSM Land Title Survey for: Network Appliance, 1345
                    Crossman

                              EXHIBIT B-1 - PAGE 7
<PAGE>   28

                    Avenue, dated September 20, 2000, prepared by Kier & Wright,
                    Job No. 97208-16.

5.     Covenants, Conditions and Restrictions in the Declaration of Protective
       Covenants - Moffett Industrial Park No. 2) recorded December 23, 1971 in
       Book 9640, page 443, Official Records; which provide that a violation
       thereof shall not defeat or render invalid the lien of any Mortgage or
       Deed of Trust made in good faith and for value. Said Covenants,
       Conditions and Restrictions do not provide for reversion of title in the
       event of a breach thereof. Restrictions, if any, based upon race, color,
       religion, sex, handicap, familial status, or national origin are deleted,
       unless and only to the extent that said covenant (a) is exempt under
       Chapter 42, Section 3607, of the United States Code, or (b) related to
       handicap but does not discriminate against handicapped persons.

       ASSIGNMENT AND ASSUMPTION of the rights, powers, duties, obligations, and
       reservations of Moffett Park Associates, in favor of The Prudential
       Insurance Company of America, recorded February 8, 1977 in Book C583,
       page 685, Official Records.

6.     EASEMENT for the purposes stated herein and incidents thereto

       Purpose     : Public utilities
       Granted to  : City of Sunnyvale
       Recorded    : November 16, 1976 in Book C414, page 105, Official Records
       Affects     : Southerly 10 feet, as shown on a survey plat entitled
                   ALTA/ACSM Land Title Survey for: Network Appliance, 1345
                   Crossman Avenue, dated September 20, 2000, prepared by Kier &
                   Wright, Job No. 97208-16.

7.     LIMITATIONS, covenants, restrictions, reservations, exceptions or terms,
       but deleting any covenant, condition or restriction indicating a
       preference, limitation or discrimination based on race, color, religion,
       sex, handicap, familial status, or national origin to the extent such
       covenants, conditions or restrictions violate 42 USC 3604(c), contained
       in the document recorded February 5, 1980 in Book F122, page 460,
       Official Records.

8.     ANY RIGHTS, interests, or claims adverse to those of the vestee herein
       which may exist or arise by reason of the following facts shown on a
       survey plat entitled ALTA/ACSM Land Title Survey for: Network Appliance,
       1345 Crossman Avenue, dated September 20, 2000, prepared by Kier &
       Wright, Job No. 97208-16.

              (a) The fact that a chain link fence extends across the southerly
       boundary of said land.

TRACT 4:

1.     TAXES for the fiscal year 2000-2001, a lien not yet due or payable.

2.     THE LIEN of supplemental taxes, if any, assessed pursuant to Chapter 3.5
       commencing with Section 75 of the California Revenue and Taxation Code,
       resulting from changes of ownership or completion of construction on or
       after the date hereof.

                               EXHIBIT B-1 - PAGE 8
<PAGE>   29

3.     EASEMENT for the purposes stated herein and incidents thereto

       Purpose      : Slope Easement
       In favor of  : City of Sunnyvale
       Recorded     : November 16, 1976 in Book C414, page 90, Official Records
       Affects      : Westerly 5 feet, as shown on a survey plat entitled
                    ALTA/ACSM Land Title Survey for: Network Appliance, 1345
                    Crossman Avenue, dated September 20, 2000, prepared by Kier
                    & Wright, Job No. 97208-16.

4.     EASEMENT recorded on that certain Map for the purposes stated herein and
       incidents thereto

       Purpose   : Public utilities easement
       Recorded  : July 7, 1994 in Book 657 of Maps, page 9, Official Records
       Affects   : Westerly 10 feet, as shown on a survey plat entitled
                 ALTA/ACSM Land Title Survey for: Network Appliance, 1345
                 Crossman Avenue, dated September 20, 2000, prepared by Kier
                 & Wright, Job No. 97208-16

5.     Covenants, Conditions and Restrictions in the Declaration of Protective
       Covenants - Moffett Industrial Park No. 2) recorded December 23, 1971 in
       Book 9640, page 443, Official Records; which provide that a violation
       thereof shall not defeat or render invalid the lien of any Mortgage or
       Deed of Trust made in good faith and for value. Said Covenants,
       Conditions and Restrictions do not provide for reversion of title in the
       event of a breach thereof. Restrictions, if any, based upon race, color,
       religion, sex, handicap, familial status, or national origin are deleted,
       unless and only to the extent that said covenant (a) is exempt under
       Chapter 42, Section 3607, of the United States Code, or (b) related to
       handicap but does not discriminate against handicapped persons.

       ASSIGNMENT AND ASSUMPTION of the rights, powers, duties, obligations, and
       reservations of Moffett Park Associates, in favor of The Prudential
       Insurance Company of America, recorded February 8, 1977 in Book C583,
       page 685, Official Records.

6.     LIMITATIONS, covenants, restrictions, reservations, exceptions or terms,
       but deleting any covenant, condition or restriction indicating a
       preference, limitation or discrimination based on race, color, religion,
       sex, handicap, familial status, or national origin to the extent such
       covenants, conditions or restrictions violate 42 USC 3604(c), contained
       in the document recorded February 5, 1980 in Book F122, page 460,
       Official Records.

TRACT 5:

1.     TAXES for the fiscal year 2000-2001, a lien not yet due or payable.

2.     THE LIEN of supplemental taxes, if any, assessed pursuant to Chapter 3.5
       commencing with Section 75 of the California Revenue and Taxation Code,
       resulting from changes of ownership or completion of construction on or
       after the date hereof.

                              EXHIBIT B-1 PAGE - 9
<PAGE>   30

3.     EASEMENT for the purposes stated herein and incidents thereto

       Purpose      : Slope Easement
       In favor of  : City of Sunnyvale
       Recorded     : October 9, 1964 in Book 6695, page 430, Official Records
       Affects      : The Northeasterly and Easterly 18 feet, as shown on a
                    survey plat entitled ALTA/ACSM Land Title Survey for:
                    Network Appliance, 1345 Crossman Avenue, dated September 20,
                    2000, prepared by Kier & Wright, Job No. 97208-16

4.     EASEMENT for the purposes stated herein and incidents thereto

       Purpose      : Public utilities easement
       In favor of  : City of Sunnyvale
       Recorded     : October 9, 1964 in Book 6695, page 450, Official Records
       Affects      : The Northeasterly and Easterly 7 feet, as shown on a
                    survey plat entitled ALTA/ACSM Land Title Survey for:
                    Network Appliance, 1345 Crossman Avenue, dated September 20,
                    2000, prepared by Kier & Wright, Job No. 97208-16

5.     EASEMENT for the purposes stated herein and incidents thereto

       Purpose   : Sidewalk and sign easement
       Recorded  : July 7, 1994, in Book 657 of Maps, page 9, Official Records
       Affects   : The Northerly 2 feet, as shown on a survey plat entitled
                 ALTA/ACSM Land Title Survey for: Network Appliance, 1345
                 Crossman Avenue, dated September 20, 2000, prepared by Kier &
                 Wright, Job No. 97208-16

6.     LIMITATIONS, covenants, restrictions, reservations, exceptions or terms,
       but deleting any covenant, condition or restriction indicating a
       preference, limitation or discrimination based on race, color, religion,
       sex, handicap, familial status, or national origin to the extent such
       covenants, conditions or restrictions violate 42 USC 3604(c), contained
       in the document recorded February 5, 1980 in Book F122, page 460,
       Official Records.

7.     EASEMENT for the purposes stated herein and incidents thereto

       Purpose   : Public utilities easement
       Recorded  : October 7, 1998, in Book 708 of Maps, pages 51-52, Official
                 Records
       Affects   : The Northerly 15 feet, as shown on a survey plat entitled
                 ALTA/ACSM Land Title Survey for: Network Appliance, 1345
                 Crossman Avenue, dated September 20, 2000, prepared by Kier &
                 Wright, Job No. 97208-16

                              EXHIBIT B-1 - PAGE 10
<PAGE>   31

                                   EXHIBIT B-2

                             CORPORATION GRANT DEED

RECORDING REQUESTED BY
AND WHEN RECORDED MAIL TO:

NAME:                 [NAI or the Applicable Purchaser]
ADDRESS:
                      ----------------------------------------
ATTN:
                      ----------------------------------------
CITY:
                      ----------------------------------------
STATE:
                      ----------------------------------------
Zip:
                      ----------------------------------------

MAIL TAX STATEMENTS TO:

NAME:                 [NAI or the Applicable Purchaser]
ADDRESS:
                      ----------------------------------------
ATTN:
                      ----------------------------------------
CITY:
                      ----------------------------------------
STATE:
                      ----------------------------------------
Zip:
                      ----------------------------------------

                             CORPORATION GRANT DEED
                        (COVERING LAND AND IMPROVEMENTS)

FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, BNP
LEASING CORPORATION, a Delaware corporation ("Grantor"), hereby grants to [NAI
or the Applicable Purchaser] ("Grantee") all of Grantor's interest in the land
situated in Sunnyvale, California, described on Annex A attached hereto and
hereby made a part hereof (the "Land"), together with the any other right, title
and interest of Grantor in and to any easements, rights-of-way, privileges and
other rights appurtenant to the Land; provided, however, that this grant is
subject to the encumbrances described on Annex B (the "Permitted Encumbrances")
and any reservations or qualifications set forth below. Grantee hereby assumes
the obligations (including any personal obligations) of Grantor, if any, created
by or under, and agrees to be bound by the terms and conditions of, the
Permitted Encumbrances to the extent that the same concern or apply to the Land.

Although this deed conveys Grantor's interest in the Land itself, this deed does
not convey any interest in any buildings or other improvements on the Land
(collectively, "Improvements") or any rights or easements appurtenant to
Improvements. Grantor retains and reserves all right, title and interest of
Grantor in and to Improvements and any rights and easements appurtenant to
Improvements, together with a leasehold estate in and to the Land and any rights
and easements appurtenant to the Land, which leasehold estate will permit the
construction, maintenance and

                              EXHIBIT B-2 - PAGE 1
<PAGE>   32

use of Improvements by Grantor and Grantor's successors and assigns on and
subject to the terms and conditions set forth in the Ground Lease dated of even
date herewith, executed by Grantee, as lessor, and Grantor, as lessee. Reference
is made to such Ground Lease, all the terms and conditions of which are
incorporated into this deed as if set forth herein.

                                   BNP LEASING CORPORATION
Date:  As of                        By:
             ----------------                -----------------------------------
                                             Its:
                                    Attest:
                                             -----------------------------------
                                             Its:
                                    [NAI or Applicable Purchaser]

Date:  As of                        By:
             ----------------                -----------------------------------
                                             Its:

                                    Attest:
                                             -----------------------------------
                                             Its:

STATE OF  ____________________       )
                                     )           SS
COUNTY OF ____________________       )

       On ___________________ before me, ________, personally appeared ________
and ___________, personally known to me (or proved to me on the basis of
satisfactory evidence) to be the persons whose names are subscribed to the
within instrument and acknowledged to me that they executed the same in their
authorized capacities, and that by their signatures on the instrument the
person, or the entity upon behalf of which the persons acted, executed the
instrument.

       WITNESS my hand and official seal.

Signature
         -----------------------------------

                              EXHIBIT B-2 - PAGE 2
<PAGE>   33

STATE OF  ____________________       )
                                     )           SS
COUNTY OF ____________________       )

       On ___________________ before me, ________, personally appeared ________
and ___________, personally known to me (or proved to me on the basis of
satisfactory evidence) to be the persons whose names are subscribed to the
within instrument and acknowledged to me that they executed the same in their
authorized capacities, and that by their signatures on the instrument the
person, or the entity upon behalf of which the persons acted, executed the
instrument.

       WITNESS my hand and official seal.

Signature
         -----------------------------------

                              EXHIBIT B-2 - PAGE 3
<PAGE>   34

                                     ANNEX A

                                LEGAL DESCRIPTION

[DRAFTING NOTE: TO THE EXTENT THAT THE "LAND" COVERED BY THE LAND LEASE CHANGES
FROM TIME TO TIME BECAUSE OF ADJUSTMENTS FOR WHICH NAI REQUESTS BNPLC'S CONSENT
OR APPROVAL, SO TOO WILL THE DESCRIPTION OF THE LAND BELOW CHANGE. ANY SUCH
CHANGES WILL BE INCORPORATED INTO THE DESCRIPTION BELOW AND THIS "DRAFTING NOTE"
WILL BE DELETED BEFORE THE DEED TO WHICH THIS DESCRIPTION IS ATTACHED IS
ACTUALLY EXECUTED AND DELIVERED.]

The real property located in the City of Sunnyvale, County of Santa Clara, State
of California, described as follows:

TRACT 1:

All of Parcel 2, as shown upon that certain Map entitled, "Parcel Map lying
within the City of Sunnyvale, being a resubdivision of a portion of Parcel B, as
shown upon that certain Parcel Map recorded in Book 345 of Maps, at page 20,
Santa Clara County Records", which Map was filed for record in the Office of the
Recorder of the County of Santa Clara, State of California, on November 17,
1976, in Book 383 of Maps, at page 35.

TRACT 2:

Together with an easement for vehicles parking over the following described
property:

A 7-foot strip of land for parking easement purposes over a portion of Parcel A,
as said Parcel A is shown on that certain Parcel Map filed for record on
November 10, 1974 in Book 292 of Maps, at page 41, records of said County, and
being more particularly described as follows:

Commencing at the Northeast corner of said Parcel A; thence North 75
degrees 8'27" West 500.00 feet along the Northeasterly line of said Parcel A;
thence South 14 degrees 51'33" West 7.00 feet; thence parallel to Northeasterly
line of said Parcel A, South 75 degrees 08'27" East 500.00 feet to the Southeast
line of said Parcel A, North 14 degrees 51'33" East 7.00 feet to the point of
beginning.

APN:  110-32-002
ARB:  110-3-65.02

TRACT 3:

Parcel 1, as shown on that certain Parcel Map which filed for record in the
office of the recorder of the County of Santa Clara, State of California on July
7, 1994, in Book 657 of Parcel Maps, Page 9.

APN:  110-32-6
ARB:  110-3-x65

                              EXHIBIT B-2 - PAGE 4
<PAGE>   35

TRACT 4:

Parcel 2, as shown on that certain Parcel Map which filed for record in the
office of the recorder of the County of Santa Clara, State of California on July
7, 1994, in Book 657 of Parcel Maps, Page 9.

APN:  110-32-7
ARB:  110-3-x65

TRACT 5:

Parcel 2, as shown on that certain parcel Map which filed for record in the
office of the recorder of the County of Santa Clara, State of California on
October 7, 1998, in Book 708 of Parcel Maps, Pages 51 and 52.

APN:  110-32-12
ARB:  110-03-65.11

                              EXHIBIT B-2 - PAGE 5
<PAGE>   36

                                     ANNEX B

                             PERMITTED ENCUMBRANCES

[DRAFTING NOTE: TO THE EXTENT THAT ENCUMBRANCES (OTHER THAN "LIENS REMOVABLE BY
BNPLC") ARE IDENTIFIED IN ADDITION TO THOSE DESCRIBED BELOW, SUCH ADDITIONAL
ENCUMBRANCES WILL BE ADDED TO THE LIST BELOW AND THIS "DRAFTING NOTE" WILL BE
DELETED BEFORE THIS DEED IS ACTUALLY EXECUTED AND DELIVERED BY BNPLC. SUCH
ADDITIONAL ENCUMBRANCES WOULD INCLUDE ANY NEW ENCUMBRANCES APPROVED BY BNPLC AS
"PERMITTED ENCUMBRANCES" UNDER THE LAND LEASE OR THE OTHER LEASE AGREEMENT FROM
TIME TO TIME OR BECAUSE OF NAI'S REQUEST FOR BNPLC'S CONSENT OR APPROVAL TO AN
ADJUSTMENT.]

       This conveyance is subject to all encumbrances not constituting a "Lien
Removable by BNPLC" (as defined in the Common Definitions and Provisions
Agreement (Phase IV - Land) incorporated by reference into the Lease Agreement
(Phase IV - Land) referenced in the last item of the list below), including the
following matters to the extent the same are still valid and in force:

TRACT 1 and 2:

1.     TAXES for the fiscal year 2000-2001, a lien not yet due or payable.

2.     THE LIEN of supplemental taxes, if any, assessed pursuant to Chapter 3.5
       commencing with Section 75 of the California Revenue and Taxation Code,
       resulting from changes of ownership or completion of construction on or
       after the date hereof.

3.     LIMITATIONS, covenants, conditions, restrictions, reservations,
       exceptions or terms, but deleting any covenant, condition or restriction
       indicating a preference, limitation or discrimination based on race,
       color, religion, sex, handicap, familial status, or national origin to
       the extent such covenants, conditions or restrictions violate 42 USC
       3604(c), contained in the document recorded December 23, 1971 in Book
       9640, page 443, Official Records.

       Assignments and Assumption, executed by Moffett Park Associates, a
       partnership to Prudential Insurance Company of America, recorded February
       8, 1977 in Book C583, page 685, Official Records.

4.     AGREEMENT on the terms and conditions contained therein,

       For       : Waiver of Construction Credits
       Between   : Moffett Park Associates
       And       : None Shown
       Recorded  : September 28, 1976 in Book C307, page 346, Official Records.

5.     EASEMENT for the purposes stated herein and incidents thereto

                              EXHIBIT B-2 - PAGE 6
<PAGE>   37

       Purpose     : Construction, reconstruction, operation, repair,
                   maintenance, replacement, relocation and enlargement of
                   Public Utilities
       Granted to  : The City of Sunnyvale, a municipal corporation
       Recorded    : November 16, 1976 in Book C414, page 105, Official Records
       Affects     : as follows:

       Being a portion of Parcel B as shown on that certain Parcel Map recorded
       August 28, 1974 in Book of Maps, at page 20, Santa Clara County Records;
       a strip of land 10 feet in width, measured at right angles lying
       Northerly and Easterly of and contiguous to the following described line;
       beginning at the intersection of the Westerly line of Crossman Road, 90
       feet in width, with the Northerly line of Parcel A as shown on said Map;
       thence North 75 degrees 7' 58" West along said Northerly line of Parcel A
       450.13 feet; thence leaving said Northerly line, North 30 degrees 7' 48"
       West 210.69 feet; thence North 75 degrees 8' 27" West 391.04 feet to a
       point on the Easterly line of the proposed Geneva Drive, 60 feet wide,
       said point being the terminus of said easement.

6.     ANY RIGHTS, interests, or claims adverse to those of the vestee herein
       which may exist or arise by reason of the following facts shown on a
       survey plat entitled ALTA/ACSM Land Title Survey for: Network Appliance,
       1345 Crossman Avenue, dated September 20, 2000, prepared by Kier &
       Wright, Job No. 97208-16.

TRACT 3:

1.     TAXES for the fiscal year 2000-2001, a lien not yet due or payable.

2.     THE LIEN of supplemental taxes, if any, assessed pursuant to Chapter 3.5
       commencing with Section 75 of the California Revenue and Taxation Code,
       resulting from changes of ownership or completion of construction on or
       after the date hereof.

3      EASEMENT for the purposes stated herein and incidents thereto

       Purpose      : Slope Easement
       In favor of  : City of Sunnyvale
       Recorded     : October 9, 1964 in Book 6695, page 430, Official Records
       Affects      : Easterly 18 feet, as shown on a survey plat entitled
                    ALTA/ACSM Land Title Survey for: Network Appliance, 1345
                    Crossman Avenue, dated September 20, 2000, prepared by Kier
                    & Wright, Job No. 97208-16.

4.     EASEMENT for the purposes stated herein and incidents thereto

       Purpose      : Public utilities easement
       In favor of  : City of Sunnyvale
       Recorded     : October 9, 1964 in Book 6695, page 450, Official Records
       Affects      : Easterly 7 feet, as shown on a survey plat entitled
                    ALTA/ACSM Land Title Survey for: Network Appliance, 1345
                    Crossman Avenue, dated September 20, 2000, prepared by Kier
                    & Wright,

                              EXHIBIT B-2 - PAGE 7
<PAGE>   38

                    Job No. 97208-16.

5.     Covenants, Conditions and Restrictions in the Declaration of Protective
       Covenants - Moffett Industrial Park No. 2) recorded December 23, 1971 in
       Book 9640, page 443, Official Records; which provide that a violation
       thereof shall not defeat or render invalid the lien of any Mortgage or
       Deed of Trust made in good faith and for value. Said Covenants,
       Conditions and Restrictions do not provide for reversion of title in the
       event of a breach thereof. Restrictions, if any, based upon race, color,
       religion, sex, handicap, familial status, or national origin are deleted,
       unless and only to the extent that said covenant (a) is exempt under
       Chapter 42, Section 3607, of the United States Code, or (b) related to
       handicap but does not discriminate against handicapped persons.

       ASSIGNMENT AND ASSUMPTION of the rights, powers, duties, obligations, and
       reservations of Moffett Park Associates, in favor of The Prudential
       Insurance Company of America, recorded February 8, 1977 in Book C583,
       page 685, Official Records.

6.     EASEMENT for the purposes stated herein and incidents thereto

       Purpose      : Public utilities
       In favor of  : City of Sunnyvale
       Recorded     : November 16, 1976 in Book C414, page 105, Official Records
       Affects      : Southerly 10 feet, as shown on a survey plat entitled
                    ALTA/ACSM Land Title Survey for: Network Appliance, 1345
                    Crossman Avenue, dated September 20, 2000, prepared by Kier
                    & Wright, Job No. 97208-16.

7.     LIMITATIONS, covenants, restrictions, reservations, exceptions or terms,
       but deleting any covenant, condition or restriction indicating a
       preference, limitation or discrimination based on race, color, religion,
       sex, handicap, familial status, or national origin to the extent such
       covenants, conditions or restrictions violate 42 USC 3604(c), contained
       in the document recorded February 5, 1980 in Book F122, page 460,
       Official Records.

8.     ANY RIGHTS, interests, or claims adverse to those of the vestee herein
       which may exist or arise by reason of the following facts shown on a
       survey plat entitled ALTA/ACSM Land Title Survey for: Network Appliance,
       1345 Crossman Avenue, dated September 20, 2000, prepared by Kier &
       Wright, Job No. 97208-16.

              (a) The fact that a chain link fence extends across the southerly
       boundary of said land.

TRACT 4:

1.     TAXES for the fiscal year 2000-2001, a lien not yet due or payable.

2.     THE LIEN of supplemental taxes, if any, assessed pursuant to Chapter 3.5
       commencing with Section 75 of the California Revenue and Taxation Code,
       resulting from changes of ownership or completion of construction on or
       after the date hereof.

                              EXHIBIT B-2 - PAGE 8
<PAGE>   39

3.     EASEMENT for the purposes stated herein and incidents thereto

       Purpose      : Slope Easement
       In favor of  : City of Sunnyvale
       Recorded     : November 16, 1976 in Book C414, page 90, Official Records
       Affects      : Westerly 5 feet, as shown on a survey plat entitled
                    ALTA/ACSM Land Title Survey for: Network Appliance, 1345
                    Crossman Avenue, dated September 20, 2000, prepared by Kier
                    & Wright, Job No. 97208-16.

4.     EASEMENT recorded on that certain Map for the purposes stated herein and
       incidents thereto

       Purpose   : Public utilities easement
       Recorded  : July 7, 1994 in Book 657 of Maps, page 9, Official Records
       Affects   : Westerly 10 feet, as shown on a survey plat entitled
                 ALTA/ACSM Land Title Survey for: Network Appliance, 1345
                 Crossman Avenue, dated September 20, 2000, prepared by Kier &
                 Wright, Job No. 97208-16.

5.     Covenants, Conditions and Restrictions in the Declaration of Protective
       Covenants - Moffett Industrial Park No. 2) recorded December 23, 1971 in
       Book 9640, page 443, Official Records; which provide that a violation
       thereof shall not defeat or render invalid the lien of any Mortgage or
       Deed of Trust made in good faith and for value. Said Covenants,
       Conditions and Restrictions do not provide for reversion of title in the
       event of a breach thereof. Restrictions, if any, based upon race, color,
       religion, sex, handicap, familial status, or national origin are deleted,
       unless and only to the extent that said covenant (a) is exempt under
       Chapter 42, Section 3607, of the United States Code, or (b) related to
       handicap but does not discriminate against handicapped persons.

       ASSIGNMENT AND ASSUMPTION of the rights, powers, duties, obligations, and
       reservations of Moffett Park Associates, in favor of The Prudential
       Insurance Company of America, recorded February 8, 1977 in Book C583,
       page 685, Official Records.

6.     LIMITATIONS, covenants, restrictions, reservations, exceptions or terms,
       but deleting any covenant, condition or restriction indicating a
       preference, limitation or discrimination based on race, color, religion,
       sex, handicap, familial status, or national origin to the extent such
       covenants, conditions or restrictions violate 42 USC 3604(c), contained
       in the document recorded February 5, 1980 in Book F122, page 460,
       Official Records.

TRACT 5:

1.     TAXES for the fiscal year 2000-2001, a lien not yet due or payable.

2.     THE LIEN of supplemental taxes, if any, assessed pursuant to Chapter 3.5
       commencing with Section 75 of the California Revenue and Taxation Code,
       resulting from changes of ownership or completion of construction on or
       after the date hereof.

                              EXHIBIT B-2 - PAGE 9
<PAGE>   40

3.     EASEMENT for the purposes stated herein and incidents thereto

       Purpose      : Slope Easement
       In favor of  : City of Sunnyvale
       Recorded     : October 9, 1964 in Book 6695, page 430, Official Records
       Affects      : The Northeasterly and Easterly 7 feet, as shown on a
                    survey plat entitled ALTA/ACSM Land Title Survey for:
                    Network Appliance, 1345 Crossman Avenue, dated September 20,
                    2000, prepared by Kier & Wright, Job No. 97208-16.

4.     EASEMENT for the purposes stated herein and incidents thereto

       Purpose      : Public utilities easement
       In favor of  : City of Sunnyvale
       Recorded     : October 9, 1964 in Book 6695, page 430, Official Records
       Affects      : The Northeasterly and Easterly 7 feet, as shown on a
                    survey plat entitled ALTA/ACSM Land Title Survey for:
                    Network Appliance, 1345 Crossman Avenue, dated September 20,
                    2000, prepared by Kier & Wright, Job No. 97208-16.

5.     EASEMENT for the purposes stated herein and incidents thereto

       Purpose   : Sidewalk and sign easement
       Recorded  : July 7, 1994 in Book 657 of Maps, page 9, Official Records
       Affects   : The Northerly 2 feet, as shown on a survey plat entitled
                 ALTA/ACSM Land Title Survey for: Network Appliance, 1345
                 Crossman Avenue, dated September 20, 2000, prepared by Kier &
                 Wright, Job No. 97208-16.

6.     LIMITATIONS, covenants, restrictions, reservations, exceptions or terms,
       but deleting any covenant, condition or restriction indicating a
       preference, limitation or discrimination based on race, color, religion,
       sex, handicap, familial status, or national origin to the extent such
       covenants, conditions or restrictions violate 42 USC 3604(c), contained
       in the document recorded February 5, 1980 in Book F122, page 460,
       Official Records.

7.     EASEMENT for the purposes stated herein and incidents thereto

       Purpose   : Public utilities easement
       Recorded  : October 7, 1998 in Book 708 of Maps, pages 51-52, Official
                 Records
       Affects   : The Northerly 15 feet, as shown on a survey plat entitled
                 ALTA/ACSM Land Title Survey for: Network Appliance, 1345
                 Crossman Avenue, dated September 20, 2000, prepared by Kier &
                 Wright, Job No. 97208-16.

                             EXHIBIT B-2 - PAGE 10
<PAGE>   41

                                   EXHIBIT B-3

                                  GROUND LEASE

       This GROUND LEASE (this "GROUND LEASE"), by and between BNP LEASING
CORPORATION, a Delaware corporation ("BNPLC"), whose address is 12201 Merit
Drive, Suite 860,Dallas, Texas 75251, and [NAI or the Applicable Purchaser], a
___________ ("LESSOR"), whose address is ____________________. as of
____________, ____ (the "GL EFFECTIVE DATE").

                                    RECITALS

       This Ground Lease is being executed pursuant to a Purchase Agreement
(Phase IV - Land) dated as of October ___, 2000 (the "PURCHASE AGREEMENT"),
between BNP Leasing Corporation and Network Appliance, Inc., covering the land
described in Annex 1 attached hereto (the "LAND"). Incorporated by reference
into the Purchase Agreement is a Common Definitions and Provisions Agreement
(Phase IV - Land) dated as of the effective date of the Purchase Agreement (the
"CDPA"), between BNP Leasing Corporation and Network Appliance, Inc. The CDPA is
hereby incorporated into and made a part of this Ground Lease for all purposes.
Capitalized terms defined in the CDPA and used but not otherwise defined herein
are intended in this Ground Lease to have the respective meanings ascribed to
them in the CDPA. The provisions in Article II of the CDPA are intended to apply
to this Ground Lease as if set forth herein and as if this Ground Lease were one
of the "Operative Documents" as defined therein.

       Lessor and BNPLC have reached agreement as to the terms and conditions
upon which Lessor is willing to lease the Land described in Annex 1 to BNPLC for
a term of approximately just less that 35 years, and by this Ground Lease Lessor
and BNPLC desire to evidence such agreement.

                                GRANTING CLAUSES

       NOW, THEREFORE, in consideration of the rent to be paid and the covenants
and agreements to be performed by BNPLC, as hereinafter set forth, Lessor does
hereby LEASE, DEMISE and LET unto BNPLC for the term hereinafter set forth the
Land, together with:

              1.     all easements and rights-of-way now owned or hereafter
                     acquired by Lessor for use in connection with the Land or
                     as a means of access thereto; and

              2.     all right, title and interest of Lessor, now owned or
                     hereafter acquired, in and to (A) any land lying within the
                     right-of-way of any street, open or proposed, adjoining the
                     Land, (B) any and all sidewalks and alleys adjacent to the
                     Land and (C) any strips and gores between the Land and any
                     abutting land not owned by Lessor.

The Land and all of the property described in the preceding clauses (1) and (2)
are hereinafter referred to collectively as the "REAL PROPERTY".

                              EXHIBIT B-3 - PAGE 1
<PAGE>   42

       To the extent, but only to the extent, that assignable rights or
interests in, to or under the following have been or will be acquired by Lessor
as the owner of any interest in the Real Property, Lessor also hereby grants and
assigns to BNPLC for the term of this Ground Lease (and thereafter, if BNPLC
purchases the Real Property from Lessor pursuant to the Repurchase Option
described in Paragraph 12) the right to use and enjoy (and, in the case of
contract rights, to enforce) such rights or interests of Lessor:

                     (a)    the Permitted Encumbrances; and

                     (b) any general intangibles, permits, licenses, franchises,
       certificates, and other rights and privileges related to the Real
       Property that BNPLC (rather than Lessor) would have acquired if BNPLC had
       itself acquired the fee estate in the Real Property (excluding, however,
       any rights and privileges of Lessor under this Ground Lease, any rights
       or privileges of Lessor under the Purchase Agreement or other Operative
       Documents, and [without limiting Lessor's obligations under subparagraphs
       4.(B), 6.(B) or 6.(C)] any rights and privileges of Lessor under the
       Development Documents described in Annex 3).

Such rights and interests of Lessor, whether now existing or hereafter arising,
are hereinafter collectively called the "GL PERSONAL PROPERTY". The Real
Property and the GL Personal Property are hereinafter sometimes collectively
called the "GL PROPERTY."

       Provided, however, the leasehold estate conveyed hereby and BNPLC's
rights hereunder are expressly made subject and subordinate to the Permitted
Encumbrances, including those listed on Annex 2. FURTHER, IF AND SO LONG AS THE
OTHER LEASE AGREEMENT AND THE OTHER PURCHASE AGREEMENT (BOTH AS DEFINED IN THE
CDPA) REMAIN IN FORCE, THE RIGHTS AND OBLIGATIONS OF LESSOR AND BNPLC HEREUNDER
SHALL BE SUBJECT TO ANY CONTRARY PROVISIONS THEREIN. ACCORDINGLY, BNPLC'S RIGHTS
UNDER PARAGRAPH 7 BELOW SHALL BE SUBJECT TO THE PROVISIONS GOVERNING INSURANCE
AND CONDEMNATION IN THE OTHER LEASE AGREEMENT, IF AND SO LONG AS THE OTHER LEASE
AGREEMENT REMAINS IN FORCE.

                          GENERAL TERMS AND CONDITIONS

       The GL Property is leased by Lessor to BNPLC and is accepted and is to be
used and possessed by BNPLC upon and subject to the following terms and
conditions:

       1. GROUND LEASE TERM AND EARLY TERMINATION BY BNPLC. The term of this
Ground Lease (the "GROUND LEASE TERM") shall commence on and include the GL
Effective Date and end on last Business Day prior to the thirty-fifth
anniversary of the GL Effective Date. However, subject to the prior approval of
any Leasehold Mortgagee, BNPLC shall have the right to terminate this Ground
Lease by giving a notice to Lessor stating that BNPLC unequivocally elects to
terminate effective as of a date specified in such notice, which may be any date
more than thirty days after the notice and after the expiration or termination
of the Lease pursuant to its terms.

                              EXHIBIT B-3 - PAGE 2
<PAGE>   43

       2. NO OTHER GROUND LEASE TERMINATION. Except as expressly provided
herein, this Ground Lease shall not terminate, nor shall Lessor have any right
to terminate this Ground Lease, nor shall the obligations of Lessor under this
Ground Lease be excused, for any reason whatsoever, including any of the
following: (i) any damage to or the destruction of all or any part of the GL
Property from whatever cause, (ii) the taking of the GL Property or any portion
thereof by eminent domain or otherwise for any reason, (iii) any default on the
part of BNPLC under this Ground Lease or under any other agreement to which
Lessor and BNPLC are parties, or (iv) any other cause whether similar or
dissimilar to the foregoing, any existing or future law to the contrary
notwithstanding. It is the intention of the parties hereto that the obligations
of Lessor hereunder shall be separate and independent of the covenants and
agreements of BNPLC. However, nothing in this Paragraph shall be construed as a
waiver by Lessor of any right Lessor may have at law or in equity to recover
monetary damages for any default under this Ground Lease by BNPLC.

       3. GROUND LEASE RENT. On each anniversary of the GL Effective Date, BNPLC
shall make a payment to Lessor of rent for the then preceding year ("GROUND
LEASE RENT"), in currency that at the time of payment is legal tender for public
and private debts in the United States of America. Each such payment of Ground
Lease Rent shall equal the Fair Rental Value, determined as provided in Annex 4.

       4. USE OF GL PROPERTY.

              (A) Permitted Uses and Construction of Improvements. Subject to
the Permitted Encumbrances and the terms hereof, BNPLC may use and occupy the GL
Property for any purpose permitted by Applicable Laws and may construct,
maintain and use any Improvements on the Land which are permitted by Applicable
Laws.

              (B) Cooperation by Lessor and its Affiliates.

              (1) After the expiration or any earlier termination of the Lease,
       if a use of the GL Property by BNPLC or any new Improvements or any
       removal or modification of Improvements proposed by BNPLC would violate
       any Permitted Encumbrance, Development Document or Applicable Law unless
       Lessor or any of its Affiliates, as an owner of adjacent property or
       otherwise, gave its consent or approval thereto or agreed to join in a
       modification of a Permitted Encumbrance or Development Document, then
       Lessor shall give and cause its Affiliates to give such consent or
       approval or join in such modification.

              (2) To the extent, if any, that any Permitted Encumbrance,
       Development Document or Applicable Law requires the consent or approval
       of Lessor or any of its Affiliates or of the City of South San Francisco
       or any other Person to an assignment of this Ground Lease or a transfer
       of any interest in the GL Property by BNPLC or its successors or assigns,
       Lessor will without charge give and cause its Affiliates to give such
       consent or approval and will cooperate in any way reasonably requested by
       BNPLC to assist BNPLC to obtain such consent or approval from the City or
       any other Person; provided, however, the assignment or transfer is not
       then prohibited by the Lease.

                              EXHIBIT B-3 - PAGE 3
<PAGE>   44

              (3) Lessor's obligations under this subparagraph 4.(B) shall be
       binding upon any successor or assign of Lessor with respect to the Land
       and other properties encumbered by the Permitted Encumbrances or subject
       to the Development Documents, and such obligations shall survive any sale
       of Lessor's interest in the GL Property to BNPLC because of BNPLC's
       exercise of the Repurchase Option (as defined in Paragraph 12).

              (C) Title to Improvements. Any and all Improvements of whatever
nature at any time constructed, placed or maintained upon any part of the Land
shall be and remain the property of BNPLC and BNPLC's sublessee's, assignees,
licensees and concessionaires, as their interests may appear; provided, any such
Improvements which remain on the Land when this Ground Lease expires or is
terminated shall become and thereupon be the property of Lessor, free and clear
of any Liens Removable by BNPLC. It is the intention of Lessor and BNPLC that
severance of fee title to the Land and the Improvements shall not change the
character of the Improvements as real property. BNPLC may at any time after
Lessor ceases to have possession of the GL Property as tenant under the Lease
and prior to the expiration or termination of this Ground Lease remove all or
any Improvements from the Land without the consent of Lessor and without any
obligation to Lessor or its Affiliates to provide compensation or to construct
other Improvements on or about the Land.

       5. ASSIGNMENT AND SUBLETTING; PASS THROUGH OF BNPLC'S LIABILITY INSURANCE
AND INDEMNITY RIGHTS. BNPLC may sublet or assign this Ground Lease without the
consent of Lessor or any of its Affiliates, subject only to limitations set
forth in the Lease for the benefit of Lessor so long as those limitations remain
in force.

       To the extent that BNPLC may from time to time after the expiration or
earlier termination of the Other Lease Agreement require any subtenant to agree
to maintain liability insurance against claims of third parties and agree to
make BNPLC an additional or named insured under such insurance, BNPLC shall also
require the subtenant to agree to make Lessor an additional or named insured.
However, BNPLC shall have no liability to Lessor for a breach by the subtenant
of any such agreements, and to the extent that BNPLC's rights as an additional
or named insured are subject to exceptions or limitations concerning BNPLC's own
acts or omissions or the acts or omissions of anyone other than the subtenant,
so too may Lessor's rights as an additional or named insured be subject to
exceptions or limitations concerning Lessor's own acts or omissions or the acts
or omissions of anyone other than the subtenant.

       To the extent that BNPLC may itself from time to time after the
expiration or earlier termination of the Other Lease Agreement maintain
liability insurance against claims of third parties which may arise because of
any occurrence on or alleged to have occurred on or about the GL Property, BNPLC
shall cause Lessor to be an additional or named insured under such insurance,
provided Lessor pays or reimburses BNPLC for any additional insurance premium
required to have Lessor made an insured.

       To the extent that BNPLC may from time to time after the expiration or
earlier termination of the Other Lease Agreement require any subtenant to agree
to indemnify BNPLC against Environmental Losses or other Losses concerning the
GL Property, BNPLC shall also require the subtenant to agree to indemnify
Lessor. However, BNPLC shall have no liability to

                              EXHIBIT B-3 - PAGE 4
<PAGE>   45

Lessor for a breach by the subtenant of any such agreement, and to the extent
that BNPLC's rights as an indemnitee of the subtenant are subject to exceptions
or limitations concerning BNPLC's own acts or omissions or the acts or omissions
of anyone other than the subtenant, so too may Lessor's rights as an indemnitee
be subject to exceptions or limitations concerning Lessor's own acts or
omissions or the acts or omissions of anyone other than the subtenant.

       6. REPRESENTATIONS, WARRANTIES AND COVENANTS OF LESSOR CONCERNING THE
PROPERTY. Lessor represents, warrants and covenants as follows:

              (A) Title to the Property. This Ground Lease shall vest in BNPLC
good and marketable title to a leasehold estate in the Land, subject only to the
terms and conditions hereof, the Permitted Encumbrances, the Development
Documents and any Liens Removable by BNPLC. Lessor shall not, without the prior
consent of BNPLC, create, place or authorize, or through any act or failure to
act, acquiesce in the placing of, any deed of trust, mortgage or other Lien,
whether statutory, constitutional or contractual against or covering the GL
Property or any part thereof (other than Permitted Encumbrances and Liens
Removable by BNPLC), regardless of whether the same are expressly or otherwise
subordinate to the Operative Documents or BNPLC's interest in the Property.

              (B) Modification of Permitted Encumbrances and Development
Documents. Without the prior consent of BNPLC, Lessor shall not enter into,
initiate, approve or consent to any modification of any Permitted Encumbrance or
Development Document that would create or expand or purport to create or expand
obligations or restrictions which would encumber the GL Property or any
improvements constructed thereon.

              (C) Performance and Preservation of the Development Documents and
Permitted Encumbrances for the Benefit of BNPLC. Not only during the term of the
Other Lease Agreement, but thereafter throughout the term of this Ground Lease,
Lessor shall comply with and perform the obligations imposed by the Permitted
Encumbrances and the Development Documents upon Lessor or upon any owner of the
Land, and shall do whatever is required to preserve the rights and benefits
conferred or intended to be conferred by the Permitted Encumbrances and the
Development Documents, as necessary to facilitate the construction of the
Construction Project on the Land as contemplated in the Other Lease Agreement
and the use of the Improvements included in the Construction Project by BNPLC
and its successors, assigns and subtenants under this Ground Lease after the
expiration or any earlier termination of the Other Lease Agreement. Further, if
Lessor or any Affiliate of Lessor now or hereafter owns, acquires or leases land
(other than the Land) that is the subject of a Permitted Encumbrance or
Development Document, then Lessor shall, and shall cause its Affiliate to,
assume liability for and indemnify BNPLC and other Interested Parties and defend
and hold them harmless from and against all Losses (including Losses caused by
any decline in the value of the Property or of the Improvements) that they would
not have incurred or suffered but for (i) a termination of such Permitted
Encumbrance or Development Document, to which Lessor or its Affiliate agreed, or
which resulted from a breach thereof by Lessor or its Affiliate, or (ii) a
refusal of Lessor or its Affiliate to agree to any waiver or modification
requested by BNPLC of restrictions upon the Property or the transfer thereof
imposed by such Permitted Encumbrance or Development Document, or (iii) anything
done, authorized or suffered by Lessor or its Affiliate in violation of such
Permitted Encumbrance or Development Document. Lessor's obligations under this

                              EXHIBIT B-3 - PAGE 5
<PAGE>   46

subparagraph 6.(C) shall be binding upon any successor or assign of Lessor or
its Affiliates with respect to their interest in properties subject to the
Development Documents and Permitted Encumbrances.

       7. INSURANCE AND CONDEMNATION.

              (A) Entitlement to Insurance and Condemnation Proceeds. All
insurance and condemnation proceeds payable with respect to any damage to or
taking of the GL Property shall be payable to and become the property of BNPLC;
provided, however, Lessor shall be entitled to receive condemnation proceeds
awarded for the value of Lessor's remainder interest in the Land exclusive of
the Improvements. BNPLC is authorized to take all action necessary on behalf of
both BNPLC and Lessor (as lessor under this Ground Lease) to collect insurance
and condemnation proceeds.

              (B) Collection of Insurance Proceeds. In the event any of the GL
Property is destroyed or damaged by fire, explosion, windstorm, hail or by any
other casualty against which insurance shall have been required hereunder, (i)
BNPLC may make proof of loss, (ii) each insurance company concerned is hereby
authorized and directed to make payment for such loss directly to BNPLC for
application as required by subparagraph 7.(A), and (iii) BNPLC's consent must be
obtained for any settlement, adjustment or compromise of any claims for loss,
damage or destruction under any policy or policies of insurance.

              (C) Collection of Condemnation Proceeds. All proceeds of
condemnation awards or proceeds of sale in lieu of condemnation with respect to
the GL Property and all judgments, decrees and awards for injury or damage to
the GL Property shall be paid to BNPLC and applied as provided in subparagraph
7.(A) above. BNPLC is hereby authorized, in the name of Lessor, to execute and
deliver valid acquittances for, and to appeal from, any such judgment, decree or
award concerning condemnation of any of the GL Property. BNPLC shall not be, in
any event or circumstances, liable or responsible for failure to collect, or to
exercise diligence in the collection of, any such proceeds, judgments, decrees
or awards.

       8. LEASEHOLD MORTGAGES.

              (A) By Leasehold Mortgage BNPLC may encumber BNPLC's leasehold
estate in the GL Property created by this Ground Lease, as well as BNPLC's
rights and interests in buildings, fixtures, equipment and Improvements situated
on the Land and rents, issues, profits, revenues and other income to be derived
by BNPLC therefrom.

              (B) Any Leasehold Mortgagee or other party, including any
corporation formed by a Leasehold Mortgagee, may become the legal owner of the
leasehold estate created by this Ground Lease, and of the Improvements,
equipment, fixtures and other property assigned as additional security pursuant
to a Leasehold Mortgage, by foreclosure of a Leasehold Mortgage or as a result
of the assignment or conveyance in lieu of foreclosure. Further, any such
Leasehold Mortgagee or other party may itself, after becoming the legal owner
and holder of the leasehold estate created by this Ground Lease, or of any
Improvements, equipment, fixtures and other property assigned as additional
security pursuant to a Leasehold Mortgage, convey or pledge the same without the
consent of Lessor.

                              EXHIBIT B-3 - PAGE 6
<PAGE>   47

              (C) Lessor shall serve notice of any default by BNPLC hereunder
upon any Leasehold Mortgagee. No notice of a default by BNPLC shall be deemed
effective until it is so served. Any Leasehold Mortgagee shall have the right to
correct or cure any such default within the same period of time after receipt of
such notice as is given to BNPLC under this Ground Lease to correct or cure
defaults, plus an additional period of thirty days thereafter. Lessor will
accept performance by any Leasehold Mortgagee of any covenant, condition or
agreement on BNPLC's part to be performed hereunder with the same force and
effect as though performed by BNPLC.

              (D) If this Ground Lease should terminate by reason of a
disaffirmance or rejection of this Ground Lease by BNPLC or any receiver,
liquidator or trustee for the property of BNPLC, or by any governmental
authority which had taken possession of the business or property of BNPLC by
reason of the insolvency or alleged insolvency of BNPLC, then:

              (1) Lessor shall give notice thereof to each Leasehold Mortgagee;
       and upon request of any Leasehold Mortgagee made within sixty days after
       Lessor has given such notice, Lessor shall enter into a new ground lease
       of the GL Property with such Leasehold Mortgagee for the remainder of the
       Ground Lease Term, at the same Ground Lease Rent and on the same terms
       and conditions as contained in this Ground Lease.

              (2) The estate of the Leasehold Mortgagee, as lessee under the new
       lease, shall have priority equal to the estate of BNPLC hereunder. That
       is, there shall be no charge, lien or burden upon the GL Property prior
       to or superior to the estate granted by such new lease which was not
       prior to or superior to the estate of BNPLC under this Ground Lease as of
       the date immediately preceding the termination of this Ground Lease.

              (3) Notwithstanding the foregoing, if Lessor shall receive
       requests to enter into a new ground lease from more than one Leasehold
       Mortgagee, Lessor shall be required to enter into only one new ground
       lease, and the new ground lease shall be to the requesting Leasehold
       Mortgagee who holds the highest priority lien or interest in BNPLC's
       leasehold estate in the Land. If the liens or security interests of two
       or more such requesting Leasehold Mortgagees which shared the highest
       priority just prior to the termination of this Ground Lease, the new
       ground lease shall name all such Leasehold Mortgagees as co-tenants
       thereunder.

              (E) If BNPLC has agreed with any Leasehold Mortgagee that such
Leasehold Mortgagee's consent will be required to any modification or early
termination of this Ground Lease by BNPLC, and if Lessor has been notified of
such agreement, such consent will be required.

              (F) No Leasehold Mortgagee will assume any liability under this
Ground Lease either by virtue of its Leasehold Mortgage or by any subsequent
receipt or collection of rents or profits generated from the GL Property, unless
and until the Leasehold Mortgagee acquires BNPLC's leasehold estate in the GL
Property at foreclosure or by deed in lieu of foreclosure.

                              EXHIBIT B-3 - PAGE 7
<PAGE>   48

              (G) Although the foregoing provisions concerning Leasehold
Mortgages and Leasehold Mortgagees will be self operative, Lessor agrees to
include, in addition to the items specified in Paragraph 11, confirmation of the
foregoing in any statement provided to a Leasehold Mortgagee or prospective
Leasehold Mortgagee pursuant to Paragraph 11.

       9. EVENTS OF DEFAULT.

              (A) Definition of Ground Lease Default. Each of the following
events shall be deemed to be a "Ground Lease Default" by BNPLC under this Ground
Lease:

              (1) BNPLC shall fail to pay when due any installment of Ground
       Lease Rent due hereunder and such failure shall continue for sixty days
       after BNPLC receives notice thereof.

              (2) BNPLC shall fail to comply with any term, provision or
       covenant of this Ground Lease (other than as described in the other
       clauses of this subparagraph 9.(A)), and shall not cure such failure
       prior to the earlier of (A) ninety days after notice thereof is sent to
       BNPLC, or (B) the date any writ or order is issued for the levy or sale
       of any property owned by Lessor or its Affiliates (including the GL
       Property) because of such failure or any criminal action is instituted
       against BNPLC or any of its directors, officers or employees because of
       such failure; provided, however, that so long as no such writ or order is
       issued and no such criminal actions is instituted, if such failure is
       susceptible of cure but cannot with reasonable diligence be cured within
       such ninety day period, and if BNPLC shall promptly have commenced to
       cure the same and shall thereafter prosecute the curing thereof with
       reasonable diligence, the period within which such failure may be cured
       shall be extended for such further period as shall be necessary for the
       curing thereof with reasonable diligence.

              (B) Remedy. Upon the occurrence of a Ground Lease Default which is
not cured within any applicable period expressly permitted by subparagraph
9.(A), Lessor's sole and exclusive remedies shall be to sue BNPLC for the
collection of any amount due under this Ground Lease, to sue for the specific
enforcement of BNPLC's obligations hereunder, or to enjoin the continuation of
the Ground Lease Default; provided, however, no limitation of Lessor's remedies
contained herein will prevent Lessor from recovering any reasonable costs Lessor
may incur to mitigate its damages by curing a Ground Lease Default that BNPLC
has failed to cure itself (so long as the cure by Lessor is pursued in a lawful
manner and the costs Lessor seeks to recover do not exceed the actual damages to
be mitigated). Lessor may not terminate this Ground Lease or BNPLC's right to
possession under this Ground Lease. Any judgment which Lessor may obtain against
BNPLC for amounts due under this Ground Lease may be collected only through
resort of a judgement lien against BNPLC's interest in the GL Property and any
Improvements. BNPLC shall have no personal liability for the payment amounts due
under this or for the performance of any obligations of BNPLC under this Ground
Lease.

       10. QUIET ENJOYMENT. Neither Lessor nor any third party lawfully claiming
any right or interest in the GL Property shall during the Ground Lease Term
disturb BNPLC's peaceable and quiet enjoyment of the GL Property; however, such
enjoyment shall be subject to

                              EXHIBIT B-3 - PAGE 8
<PAGE>   49

the terms, provisions, covenants, agreements and conditions of this Ground Lease
and the Permitted Encumbrances, to which this Ground Lease is subject and
subordinate as herein above set forth.

       11. ESTOPPEL CERTIFICATE. Lessor shall from time to time, within ten days
after receipt of request by BNPLC, deliver a statement in writing certifying:

              (A) that this Ground Lease is unmodified and in full force and
effect (or if modified that this Ground Lease as so modified is in full force
and effect);

              (B) that to the knowledge of Lessor BNPLC has not previously
assigned or hypothecated its rights or interests under this Ground Lease, except
as is described in such statement with as much specificity as Lessor is able to
provide;

              (C) the term of this Ground Lease and the Ground Lease Rent then
in effect and any additional charges;

              (D) that BNPLC is not in default under any provision of this
Ground Lease (or if in default, the nature thereof in detail) and a statement as
to any outstanding obligations on the part of Lessor or BNPLC; and

              (E) such other matters as are reasonably requested by BNPLC.

Lessor's failure to deliver such statement within such time shall be conclusive
upon BNPLC (i) that this Ground Lease is in full force and effect, without
modification except as may be represented by BNPLC, (ii) that there are no
uncured defaults in BNPLC's performance hereunder.

       12. OPTION TO REPURCHASE. Subject to the terms and conditions set forth
in Annex 5, BNPLC (and any assignee of BNPLC's entire interest in the GL
Property, but not any subtenant or assignee of a lesser interest) shall have the
option (the "REPURCHASE OPTION") to purchase Lessor's interest in the GL
Property. To secure BNPLC's right to recover any damages caused by a breach of
the Repurchase Option or other provisions of this Ground Lease by Lessor,
including any such breach caused by a rejection or termination of this Ground
Lease in any bankruptcy or insolvency proceeding instituted by or against
Lessor, as debtor, Lessor does hereby grant to BNPLC a lien and security
interest against the Land and against all rights, title and interests of Lessor
from time to time in and to the GL Property.

                          [The signature pages follow.]

                              EXHIBIT B-3 - PAGE 9
<PAGE>   50

       IN WITNESS WHEREOF, this Ground Lease is hereby executed in multiple
originals as of the date first written above.

                                        "Lessor"

                                        [NAI or the Applicable Purchaser].

                                        By:
                                           -------------------------------------
                                        Name:
                                             -----------------------------------

                                        Title:
                                              ----------------------------------

                             EXHIBIT B-3 - PAGE 10
<PAGE>   51

[Continuation of signature pages to GROUND LEASE dated as of ___________, ____]

                                        "BNPLC"

                                        BNP LEASING CORPORATION

                                        By:
                                           -------------------------------------
                                        Name:
                                             -----------------------------------

                                        Title:
                                              ----------------------------------

                             EXHIBIT B-3 - PAGE 11
<PAGE>   52

STATE OF  ____________________       )
                                     )
COUNTY OF ____________________       )

       On ___________________ before me, ________, personally appeared ________
and ___________, personally known to me (or proved to me on the basis of
satisfactory evidence) to be the persons whose names are subscribed to the
within instrument and acknowledged to me that they executed the same in their
authorized capacities, and that by their signatures on the instrument the
person, or the entity upon behalf of which the persons acted, executed the
instrument.

                                        WITNESS my hand and official seal.

                                        Signature
                                                 -------------------------------

                             EXHIBIT B-3 - PAGE 12
<PAGE>   53

STATE OF  ____________________       )
                                     )
COUNTY OF ____________________       )

       On ___________________ before me, ________, personally appeared ________
and ___________, personally known to me (or proved to me on the basis of
satisfactory evidence) to be the persons whose names are subscribed to the
within instrument and acknowledged to me that they executed the same in their
authorized capacities, and that by their signatures on the instrument the
person, or the entity upon behalf of which the persons acted, executed the
instrument.

                                        WITNESS my hand and official seal.

                                        Signature
                                                 -------------------------------

                             EXHIBIT B-3 - PAGE 13
<PAGE>   54

                                     ANNEX 1

                                LEGAL DESCRIPTION

[DRAFTING NOTE: TO THE EXTENT THAT THE "LAND" COVERED BY THE LAND LEASE CHANGES
FROM TIME TO TIME BECAUSE OF ADJUSTMENTS FOR WHICH NAI REQUESTS BNPLC'S CONSENT
OR APPROVAL, SO TOO WILL THE DESCRIPTION OF THE LAND BELOW CHANGE. ANY SUCH
CHANGES WILL BE INCORPORATED INTO THE DESCRIPTION BELOW AND THIS "DRAFTING NOTE"
WILL BE DELETED BEFORE THE DEED TO WHICH THIS DESCRIPTION IS ATTACHED IS
ACTUALLY EXECUTED AND DELIVERED.]

All that certain real property situate in the City of Sunnyvale, State of
California, described as follows:

TRACT 1:

All of Parcel 2, as shown upon that certain Map entitled, "Parcel Map lying
within the City of Sunnyvale, being a resubdivision of a portion of Parcel B, as
shown upon that certain Parcel Map recorded in Book 345 of Maps, at page 20,
Santa Clara County Records", which Map was filed for record in the Office of the
Recorder of the County of Santa Clara, State of California, on November 17,
1976, in Book 383 of Maps, at page 35.

TRACT 2:

Together with an easement for vehicles parking over the following described
property:

A 7-foot strip of land for parking easement purposes over a portion of Parcel A,
as said Parcel A is shown on that certain Parcel Map filed for record on
November 10, 1974 in Book 292 of Maps, at page 41, records of said County, and
being more particularly described as follows:

Commencing at the Northeast corner of said Parcel A; thence North
75 degrees 8'27" West 500.00 feet along the Northeasterly line of said Parcel A;
thence South 14 degrees 51'33" West 7.00 feet; thence parallel to Northeasterly
line of said Parcel A, South 75 degrees 08'27" East 500.00 feet to the Southeast
line of said Parcel A, North 14 degrees 51'33" East 7.00 feet to the point of
beginning.

APN:  110-32-002
ARB:  110-3-65.02

TRACT 3:

Parcel 1, as shown on that certain Parcel Map which filed for record in the
office of the recorder of the County of Santa Clara, State of California on July
7, 1994, in Book 657 of Parcel Maps, Page 9.

APN:  110-32-6
ARB:  110-3-x65

                             EXHIBIT B-3 - PAGE 14
<PAGE>   55

TRACT 4:

Parcel 2, as shown on that certain Parcel Map which filed for record in the
office of the recorder of the County of Santa Clara, State of California on July
7, 1994, in Book 657 of Parcel Maps, Page 9.

APN:  110-32-7
ARB:  110-3-x65

TRACT 5:

Parcel 2, as shown on that certain parcel Map which filed for record in the
office of the recorder of the County of Santa Clara, State of California on
October 7, 1998, in Book 708 of Parcel Maps, Pages 51 and 52.

APN:  110-32-12
ARB:  110-03-65.11

                             EXHIBIT B-3 - PAGE 15
<PAGE>   56

                                     ANNEX 2

                             PERMITTED ENCUMBRANCES

The leasehold and other interests in the Land hereby conveyed by Lessor are
conveyed subject to the following matters to the extent the same are still valid
and in force:

[THE SAME LIST OF PERMITTED ENCUMBRANCES ATTACHED TO THE GRANT DEED FROM BNPLC
TO NAI OR THE APPLICABLE PURCHASER SHALL BE INSERTED HERE.]

                             EXHIBIT B-3 - PAGE 16
<PAGE>   57

                                     ANNEX 3

                          LIST OF DEVELOPMENT DOCUMENTS

NONE

                             EXHIBIT B-3 - PAGE 17
<PAGE>   58

                                     ANNEX 4

                       DETERMINATION OF FAIR RENTAL VALUE

       Each annual payment of Ground Lease Rent will equal the Fair Rental
Value, computed as of the most recent Rental Determination Date when such
payment becomes due. As used in this Annex:

              "FAIR RENTAL VALUE" means (and all appraisers and other persons
       involved in the determination of the Fair Rental Value will be so
       advised) the annual rent, as determined in accordance with this Annex,
       that would be agreed upon between a willing tenant, under no compulsion
       to lease, and a willing landlord, under no compulsion to lease, for
       unimproved land comparable in size and location to the Land, exclusive of
       any Improvements but assuming that there is no higher and better use for
       such land than as a site for improvements of comparable size and utility
       to the Improvements, at the time a determination is required under
       hereunder and taking into consideration the condition of the Land, the
       encumbrances affecting the title to the Land and all applicable zoning,
       land use approvals and other governmental permits relating to the Land at
       the time of such determination; and

              "RENTAL DETERMINATION DATE" means the GL Effective Date and each
       fifth anniversary of the GL Effective Date.

       If Lessor and BNPLC have not agreed upon Fair Rental Value as of any
Rental Determination Date within one hundred eighty days after the such date,
then Fair Rental Value will be determined as follows:

              (a) Lessor and BNPLC shall each appoint a real estate appraiser
       who is familiar with rental values for properties in the vicinity of the
       Land and who has not previously acted for either party. Each party will
       make the appointment no later than ten days after receipt of notice from
       the other party that the appraisal process described in this Annex has
       been invoked. The agreement of the two appraisers as to Fair Rental Value
       will be binding upon Lessor and BNPLC. If the two appraisers cannot agree
       upon the Fair Rental Value within ten days following their appointment,
       they shall within another ten days agree upon a third real estate
       appraiser. Immediately thereafter, each of the first two appraisers will
       submit his best estimate of the appropriate Fair Rental Value (together
       with a written report supporting such estimate) to the third appraiser
       and the third appraiser will choose between the two estimates. The
       estimate of Fair Rental Value chosen by the third appraiser as the
       closest to the prevailing annual fair rental value will be binding upon
       Lessor and BNPLC. Notification in writing of this estimate shall be made
       to Lessor and BNPLC within fifteen days following the selection of the
       third appraiser.

              (b) If appraisers must be selected under the procedure set out
       above and either BNPLC or Lessor fails to appoint an appraiser or fails
       to notify the other party of such appointment within fifteen days after
       receipt of notice that the prescribed time for appointing the appraisers
       has passed, then the other party's appraiser will determine the

                             EXHIBIT B-3 - PAGE 18
<PAGE>   59

       Fair Rental Value. All appraisers selected for the appraisal process set
       out in this Annex will be disinterested, reputable, qualified real estate
       appraisers with the designation of MAI or equivalent and with at least 5
       years experience in appraising properties comparable to the Land.

              (c) If a third appraiser must be chosen under the procedure set
       out above, he or she will be chosen on the basis of objectivity and
       competence, not on the basis of his relationship with the other
       appraisers or the parties to this Ground Lease, and the first two
       appraisers will be so advised. Although the first two appraisers will be
       instructed to attempt in good faith to agree upon the third appraiser, if
       for any reason they cannot agree within the prescribed time, either
       Lessor and BNPLC may require the first two appraisers to immediately
       submit its top choice for the third appraiser to the then highest ranking
       officer of the California Bar Association who will agree to help and who
       has no attorney/client or other significant relationship to either Lessor
       or BNPLC. Such officer will have complete discretion to select the most
       objective and competent third appraiser from between the choices of each
       of the first two appraisers, and will do so within twenty days after such
       choices are submitted to him.

              (d) Either Lessor or BNPLC may notify the appraiser selected by
       the other party to demand the submission of an estimate of Fair Rental
       Value or a choice of a third appraiser as required under the procedure
       described above; and if the submission of such an estimate or choice is
       required but the other party's appraiser fails to comply with the demand
       within fifteen days after receipt of such notice, then the Fair Rental
       Value or choice of the third appraiser, as the case may be, selected by
       the other appraiser (i.e., the notifying party's appraiser) will be
       binding upon Lessor and BNPLC.

              (e) Lessor and BNPLC shall each bear the expense of the appraiser
       appointed by it, and the expense of the third appraiser and of any
       officer of the California Bar Association who participates in the
       appraisal process described above will be shared equally by Lessor and
       BNPLC.

                             EXHIBIT B-3 - PAGE 19
<PAGE>   60

                                     ANNEX 5

                                REPURCHASE OPTION

       Subject to the terms of this Annex, BNPLC shall have an option (the
"OPTION") to buy Lessor's fee interest in the GL Property at any time during the
term of this Ground Lease for a purchase price (the "OPTION PRICE") to Lessor
equal to the fair market value of the GL Property, determined as described in
the next paragraph.

       For the purposes of this Annex, "fair market value" of the GL Property
means (and all appraisers and other persons involved in the determination of the
Option Price will be so advised) the price that would be agreed upon between a
willing buyer, under no compulsion to buy, and a willing seller, under no
compulsion to sell, for the Land, exclusive of any Improvements as if the Land
were unimproved, but assuming that there is no higher and better use for the
Land than as a site for the construction of improvements of comparable size and
utility to the Improvements, at the time of BNPLC's exercise of the Option and
taking into consideration the encumbrances affecting the title to the Land and
all applicable zoning, land use approvals and other governmental permits
relating to the Land at the time of the exercise of the Option.

       If BNPLC exercises the Option, which BNPLC may do by notifying Lessor
that BNPLC has elected to buy Lessor's interest in the GL Property as provided
herein, then:

              (a) To the extent, if any, required as a condition imposed by law
       to the conveyance of the fee interest in the GL Property to BNPLC, Lessor
       shall promptly at its expense do whatever is necessary to obtain
       approvals of a new Parcel Map or lot line adjustments.

              (b) Upon BNPLC's tender of the Option Price to Lessor, Lessor will
       convey to BNPLC by general warranty deed and assignment, subject only to
       the Permitted Encumbrances, good and marketable title to the fee estate
       in the Land, to Lessor's interest in all other GL Property and, to the
       extent still in force, to Lessor's Extended Remarketing Rights under the
       Purchase Agreement.

              (c) BNPLC's obligation to close the purchase shall be subject to
       the following terms and conditions, all of which are for the benefit of
       BNPLC: (1) BNPLC shall have been furnished with evidence satisfactory to
       BNPLC that Lessor can convey title as required by the preceding
       subparagraph; (2) nothing shall have occurred or been discovered after
       BNPLC exercised the Option that could significantly and adversely affect
       title to the GL Property or BNPLC's use thereof, (3) all of the
       representations of Lessor in this Ground Lease shall continue to be true
       as if made effective on the date of the closing and, with respect to any
       such representations which may be limited to the knowledge of Lessor or
       any of Lessor's representatives, would continue to be true on the date of
       the closing if all relevant facts and circumstances were known to Lessor
       and such representatives, (4) BNPLC shall find the Option Price
       acceptable after it is determined as provided in this Annex, and (5)
       BNPLC shall have been tendered the deed and other

                             EXHIBIT B-3 - PAGE 20
<PAGE>   61

       documents which are described in this Annex as documents to be delivered
       to BNPLC at the closing of BNPLC's purchase.

              (d) Closing of the purchase will be scheduled on the first
       Business Day following thirty days after the Option Price is established
       in accordance with the terms and conditions of this Annex and after any
       approvals described in subparagraph (a) above are obtained, and prior to
       closing BNPLC's occupancy of the GL Property shall continue to be subject
       to the terms and conditions of this Ground Lease, including the terms
       setting forth BNPLC's obligation to pay rent. Closing shall take place at
       the offices of any title insurance company reasonably selected by BNPLC
       to insure title under the title insurance policy described below.

              (e) Any transfer taxes or notices or registrations required by law
       in connection with the sale contemplated by this Annex will be the
       responsibility of Lessor.

              (f) Lessor will deliver a certificate of nonforeign status to
       BNPLC at closing as needed to comply with the provisions of the Foreign
       Investors Real Property Tax Act (FIRPTA) or any comparable federal, state
       or local law in effect at the time.

              (g) Lessor will also pay for and deliver to BNPLC at the closing
       an owner's title insurance policy in the full amount of the Option Price,
       issued by a title insurance company designated by BNPLC (or written
       confirmation from the title company that it is then prepared to issue
       such a policy), and subject only to standard printed exceptions which the
       title insurance company refuses to delete or modify in a manner
       acceptable to BNPLC and to Permitted Encumbrances.

              (h) Lessor shall also deliver at the closing all other documents
       or things reasonably required to be delivered to BNPLC or by the title
       insurance company to evidence Lessor's ability to transfer the GL
       Property to BNPLC.

       If Lessor and BNPLC do not otherwise agree upon the amount of the Option
Price within twenty days after BNPLC exercises the Option, the Option Price
shall be determined in accordance with the following procedure:

                     (1) Lessor and BNPLC shall each appoint a real estate
              appraiser who is familiar with properties in the vicinity of the
              Land and who has not previously acted for either party. Each party
              will make the appointment no later than ten days after receipt of
              notice from the other party that the appraisal process described
              in this Annex has been invoked. The agreement of the two
              appraisers as to the Option Price will be binding upon Lessor and
              BNPLC. If the two appraisers cannot agree upon the Option Price
              within ten days following their appointment, they shall within
              another ten days agree upon a third real estate appraiser.
              Immediately thereafter, each of the first two appraisers will
              submit his best estimate of the appropriate Option Price (together
              with a written report supporting such estimate) to the third
              appraiser and the third appraiser will choose between the two
              estimates. The estimate of Option Price chosen by the third
              appraiser as the closest to the prevailing fair market value will
              be binding upon

                             EXHIBIT B-3 - PAGE 21
<PAGE>   62

              Lessor and BNPLC. Notification in writing of the Option Price
              shall be made to Lessor and BNPLC within fifteen days following
              the selection of the third appraiser.

                     (2) If appraisers must be selected under the procedure set
              out above and either BNPLC or Lessor fails to appoint an appraiser
              or fails to notify the other party of such appointment within
              fifteen days after receipt of notice that the prescribed time for
              appointing the appraisers has passed, then the other party's
              appraiser will determine the Option Price. All appraisers selected
              for the appraisal process set out in this Annex will be
              disinterested, reputable, qualified real estate appraisers with
              the designation of MAI or equivalent and with at least 5 years
              experience in appraising properties comparable to the Land.

                     (3) If a third appraiser must be chosen under the procedure
              set out above, he will be chosen on the basis of objectivity and
              competence, not on the basis of his relationship with the other
              appraisers or the parties to this Ground Lease, and the first two
              appraisers will be so advised. Although the first two appraisers
              will be instructed to attempt in good faith to agree upon the
              third appraiser, if for any reason they cannot agree within the
              prescribed time, either Lessor and BNPLC may require the first two
              appraisers to immediately submit its top choice for the third
              appraiser to the then highest ranking officer of the California
              Bar Association who will agree to help and who has no
              attorney/client or other significant relationship to either Lessor
              or BNPLC. Such officer will have complete discretion to select the
              most objective and competent third appraiser from between the
              choices of each of the first two appraisers, and will do so within
              ten days after such choices are submitted to him.

                     (4) Either Lessor or BNPLC may notify the appraiser
              selected by the other party to demand the submission of an
              estimate of Option Price or a choice of a third appraiser as
              required under the procedure described above; and if the
              submission of such an estimate or choice is required but the other
              party's appraiser fails to comply with the demand within fifteen
              days after receipt of such notice, then the Option Price or choice
              of the third appraiser, as the case may be, selected by the other
              appraiser (i.e., the notifying party's appraiser) will be binding
              upon Lessor and BNPLC.

                     (5) Lessor and BNPLC shall each bear the expense of the
              appraiser appointed by it, and the expense of the third appraiser
              and of any officer of the California Bar Association who
              participates in the appraisal process described above will be
              shared equally by Lessor and BNPLC.

                             EXHIBIT B-3 - PAGE 22
<PAGE>   63

                                    EXHIBIT C

                           BILL OF SALE AND ASSIGNMENT

       Reference is made to: (1) that certain Purchase Agreement (Phase IV Land)
between BNP Leasing Corporation ("ASSIGNOR") and Network Appliance, Inc., dated
as of October 2, 2000, (the "PURCHASE AGREEMENT") and (2) that certain Lease
Agreement (Phase IV - Land) between Assignor, as landlord, and Network
Appliance, Inc., as tenant, dated as of October 2, 2000 (the "LAND LEASE").
(Capitalized terms used and not otherwise defined in this document are intended
to have the meanings assigned to them in the Common Definitions and Provisions
Agreement (Phase IV - Land) incorporated by reference into both the Purchase
Agreement and Land Lease.)

       As contemplated by the Purchase Agreement, Assignor hereby sells,
transfers and assigns unto [NAI OR THE APPLICABLE PURCHASER, AS THE CASE MAY
BE], a _____________ ("ASSIGNEE"), all of Assignor's right, title and interest
in and to the following property, if any, to the extent such property is
assignable:

       (a) the Land Lease;

       (b) any pending or future award made because of any condemnation
affecting the Property or because of any conveyance to be made in lieu thereof,
and any unpaid award for damage to the Property and any unpaid proceeds of
insurance or claim or cause of action for damage, loss or injury to the
Property; and

       (c) all other property included within the definition of "Property" as
set forth in the Purchase Agreement.

Provided, however, excluded from this conveyance and reserved to Assignor are
any rights or privileges of Assignor under the following ("EXCLUDED RIGHTS"):
(1) the indemnities set forth in the Land Lease, whether such rights are
presently known or unknown, including rights of the Assignor to be indemnified
against environmental claims of third parties as provided in the Land Lease
which may not presently be known, (2) provisions in the Land Lease that
establish the right of Assignor to recover any accrued unpaid rent under the
Land Lease which may be outstanding as of the date hereof, (3) agreements
between Assignor and "BNPLC's Parent" or any "Participant," both as defined in
the Land Lease, or any modification or extension thereof, or (4) any other
instrument being delivered to Assignor contemporaneously herewith pursuant to
the Purchase Agreement. To the extent that this conveyance does include any
rights to receive future payments under the Land Lease, such rights ("INCLUDED
RIGHTS") shall be subordinate to Assignor's Excluded Rights, and Assignee hereby
waives any rights to enforce Included Rights until such time as Assignor has
received all payments to which it remains entitled by reason of Excluded Rights.
If any amount shall be paid to Assignee on account of any Included Rights at any
time before Assignor has received all payments to which it is entitled because
of Excluded Rights, such amount shall be held in trust by Assignee for the
benefit of Assignor, shall be segregated from the other funds of Assignee and
shall forthwith be paid over to Assignor to be held by Assignor as collateral
for, or then or at any time thereafter applied in whole or in part by

                               EXHIBIT C - PAGE 1
<PAGE>   64

Assignor against, the payments due to Assignor because of Excluded Rights,
whether matured or unmatured, in such order as Assignor shall elect.

       Assignor does for itself and its successors covenant and agree to warrant
and defend the title to the property assigned herein against the just and lawful
claims and demands of any person claiming under or through a Lien Removable by
BNPLC, but not otherwise.

       Assignee hereby assumes and agrees to keep, perform and fulfill
Assignor's obligations, if any, relating to any permits or contracts, under
which Assignor has rights being assigned herein.

       IN WITNESS WHEREOF, the parties have executed this instrument as of
_______________, _____.

                                  ASSIGNOR:

                                  BNP LEASING CORPORATION a Delaware corporation

                                  By:
                                     ------------------------------------------
                                  Its:
                                      -----------------------------------------

                                  ASSIGNEE:

                                  [NAI or the Applicable Purchaser], a

                                  ------------------

                                  By:
                                     ------------------------------------------
                                  Its:
                                      -----------------------------------------

                               EXHIBIT C - PAGE 2
<PAGE>   65

STATE OF  ____________________       )
                                     )           SS
COUNTY OF ____________________       )

       On ___________________ before me, ________, personally appeared ________
and ___________, personally known to me (or proved to me on the basis of
satisfactory evidence) to be the persons whose names are subscribed to the
within instrument and acknowledged to me that they executed the same in their
authorized capacities, and that by their signatures on the instrument the
person, or the entity upon behalf of which the persons acted, executed the
instrument.

       WITNESS my hand and official seal.

Signature
         -----------------------------------

STATE OF  ____________________       )
                                     )           SS
COUNTY OF ____________________       )

       On ___________________ before me, ________, personally appeared ________
and ___________, personally known to me (or proved to me on the basis of
satisfactory evidence) to be the persons whose names are subscribed to the
within instrument and acknowledged to me that they executed the same in their
authorized capacities, and that by their signatures on the instrument the
person, or the entity upon behalf of which the persons acted, executed the
instrument.

       WITNESS my hand and official seal.

Signature
         -----------------------------------

                               EXHIBIT C - PAGE 3
<PAGE>   66

                                     ANNEX A

                                LEGAL DESCRIPTION

[DRAFTING NOTE: TO THE EXTENT THAT THE "LAND" COVERED BY THE LAND LEASE CHANGES
FROM TIME TO TIME BECAUSE OF ADJUSTMENTS FOR WHICH NAI REQUESTS BNPLC'S CONSENT
OR APPROVAL, SO TOO WILL THE DESCRIPTION OF THE LAND BELOW CHANGE. ANY SUCH
CHANGES WILL BE INCORPORATED INTO THE DESCRIPTION BELOW AND THIS "DRAFTING NOTE"
WILL BE DELETED BEFORE THE DOCUMENT TO WHICH THIS DESCRIPTION IS ATTACHED IS
ACTUALLY EXECUTED AND DELIVERED.]

The real property located in the City of Sunnyvale, County of Santa Clara, State
of California, described as follows:

TRACT 1:

All of Parcel 2, as shown upon that certain Map entitled, "Parcel Map lying
within the City of Sunnyvale, being a resubdivision of a portion of Parcel B, as
shown upon that certain Parcel Map recorded in Book 345 of Maps, at page 20,
Santa Clara County Records", which Map was filed for record in the Office of the
Recorder of the County of Santa Clara, State of California, on November 17,
1976, in Book 383 of Maps, at page 35.

TRACT 2:

Together with an easement for vehicles parking over the following described
property:

A 7-foot strip of land for parking easement purposes over a portion of Parcel A,
as said Parcel A is shown on that certain Parcel Map filed for record on
November 10, 1974 in Book 292 of Maps, at page 41, records of said County, and
being more particularly described as follows:

Commencing at the Northeast corner of said Parcel A; thence North
75 degrees 8'27" West 500.00 feet along the Northeasterly line of said Parcel A;
thence South 14 degrees 51'33" West 7.00 feet; thence parallel to Northeasterly
line of said Parcel A, South 75 degrees 08'27" East 500.00 feet to the Southeast
line of said Parcel A, North 14 degrees 51'33" East 7.00 feet to the point of
beginning.

APN:  110-32-002
ARB:  110-3-65.02

TRACT 3:

Parcel 1, as shown on that certain Parcel Map which filed for record in the
office of the recorder of the County of Santa Clara, State of California on July
7, 1994, in Book 657 of Parcel Maps, Page 9.

APN:  110-32-6
ARB:  110-3-x65

                               EXHIBIT C - PAGE 4
<PAGE>   67

TRACT 4:

Parcel 2, as shown on that certain Parcel Map which filed for record in the
office of the recorder of the County of Santa Clara, State of California on July
7, 1994, in Book 657 of Parcel Maps, Page 9.

APN:  110-32-7
ARB:  110-3-x65

TRACT 5:

Parcel 2, as shown on that certain parcel Map which filed for record in the
office of the recorder of the County of Santa Clara, State of California on
October 7, 1998, in Book 708 of Parcel Maps, Pages 51 and 52.

APN:  110-32-12
ARB:  110-03-65.11

                               EXHIBIT C - PAGE 5
<PAGE>   68

                                    EXHIBIT D

         ACKNOWLEDGMENT OF DISCLAIMER OF REPRESENTATIONS AND WARRANTIES

       THIS ACKNOWLEDGMENT OF DISCLAIMER OF REPRESENTATIONS AND WARRANTIES (this
"CERTIFICATE") is made as of ___________________, ____, by [NAI or the
Applicable Purchaser, as the case may be], a ___________________ ("GRANTEE").

       Contemporaneously with the execution of this Certificate, BNP Leasing
Corporation, a Delaware corporation ("BNPLC"), is executing and delivering to
Grantee (1) a corporate grant deed and (2) a Bill of Sale and Assignment (the
foregoing documents and any other documents to be executed in connection
therewith are herein called the "Conveyancing Documents" and any of the
properties, rights or other matters assigned, transferred or conveyed pursuant
thereto are herein collectively called the "Subject Property").

       NOTWITHSTANDING ANY PROVISION CONTAINED IN THE CONVEYANCING DOCUMENTS TO
THE CONTRARY, GRANTEE ACKNOWLEDGES THAT BNPLC MAKES NO REPRESENTATIONS OR
WARRANTIES OF ANY NATURE OR KIND, WHETHER STATUTORY, EXPRESS OR IMPLIED, WITH
RESPECT TO ENVIRONMENTAL MATTERS OR THE PHYSICAL CONDITION OF THE SUBJECT
PROPERTY, AND GRANTEE, BY ACCEPTANCE OF THE CONVEYANCING DOCUMENTS, ACCEPTS THE
SUBJECT PROPERTY "AS IS," "WHERE IS," "WITH ALL FAULTS" AND WITHOUT ANY SUCH
REPRESENTATION OR WARRANTY BY GRANTOR AS TO ENVIRONMENTAL MATTERS, THE PHYSICAL
CONDITION OF THE SUBJECT PROPERTY, COMPLIANCE WITH SUBDIVISION OR PLATTING
REQUIREMENTS OR CONSTRUCTION OF ANY IMPROVEMENTS. Without limiting the
generality of the foregoing, Grantee hereby further acknowledges and agrees that
warranties of merchantability and fitness for a particular purpose are excluded
from the transaction contemplated by the Conveyancing Documents, as are any
warranties arising from a course of dealing or usage of trade. Grantee hereby
assumes all risk and liability (and agrees that BNPLC shall not be liable for
any special, direct, indirect, consequential, or other damages) resulting or
arising from or relating to the ownership, use, condition, location,
maintenance, repair, or operation of the Subject Property, except for damages
proximately caused by (and attributed by any applicable principles of
comparative fault to) the Established Misconduct of BNPLC. As used in the
preceding sentence, "ESTABLISHED MISCONDUCT" is intended to have, and be limited
to, the meaning given to it in the Common Definitions and Provisions Agreement
(Phase IV - Land) incorporated by reference into the Purchase Agreement (Phase
IV-Land) between BNPLC and Network Appliance, Inc. dated October 2, 2000,
pursuant to which Purchase Agreement BNPLC is delivering the Conveyancing
Documents.

       The provisions of this Certificate shall be binding on Grantee, its
successors and assigns and any other party claiming through Grantee. Grantee
hereby acknowledges that BNPLC is entitled to rely and is relying on this
Certificate.

                               EXHIBIT D - PAGE 1
<PAGE>   69

       EXECUTED as of ________________, ____.

                                        [NAI or the Applicable Purchaser]

                                        By:
                                           -------------------------------------
                                        Name:
                                             -----------------------------------
                                        Title
                                             -----------------------------------

                               EXHIBIT D - PAGE 2
<PAGE>   70

                                    EXHIBIT E

                             SECRETARY'S CERTIFICATE

       The undersigned, [Secretary or Assistant Secretary] of BNP Leasing
Corporation, a Delaware corporation (the "Corporation"), hereby certifies as
follows:

       1. That he is the duly, elected, qualified and acting Secretary [or
Assistant Secretary] of the Corporation and has custody of the corporate
records, minutes and corporate seal.

       2. That the following named persons have been properly designated,
elected and assigned to the office in the Corporation as indicated below; that
such persons hold such office at this time and that the specimen signature
appearing beside the name of such officer is his or her true and correct
signature.

[THE FOLLOWING BLANKS MUST BE COMPLETED WITH THE NAMES AND SIGNATURES OF THE
OFFICERS WHO WILL BE SIGNING THE DEED AND OTHER SALE CLOSING DOCUMENTS ON BEHALF
OF THE CORPORATION.]

Name                     Title                      Signature
----                     -----                      ---------

-----------------------  -------------------------  ----------------------------

-----------------------  -------------------------  ----------------------------

       3. That the resolutions attached hereto and made a part hereof were duly
adopted by the Board of Directors of the Corporation in accordance with the
Corporation's Articles of Incorporation and Bylaws. Such resolutions have not
been amended, modified or rescinded and remain in full force and effect.

       IN WITNESS WHEREOF, I have hereunto signed my name and affixed the seal
of the Corporation on this ___, day of ___________________, __________.

                                       -----------------------------------------
                                        [signature and title]

                               EXHIBIT E - PAGE 1
<PAGE>   71

                            CORPORATE RESOLUTIONS OF
                             BNP LEASING CORPORATION

       WHEREAS, pursuant to that certain Purchase Agreement (Phase IV - Land)
(herein called the "Purchase Agreement") dated as of October 2, 2000, by and
between BNP Leasing Corporation (the "Corporation") and [NAI OR THE APPLICABLE
PURCHASER AS THE CASE MAY BE] ("Purchaser"), the Corporation agreed to sell and
Purchaser agreed to purchase or cause the Applicable Purchaser (as defined in
the Purchase Agreement) to purchase the Corporation's interest in the property
(the "Property") located in Sunnyvale, California more particularly described
therein.

       NOW THEREFORE, BE IT RESOLVED, that the Board of Directors of the
Corporation, in its best business judgment, deems it in the best interest of the
Corporation and its shareholders that the Corporation convey the Property to
Purchaser or the Applicable Purchaser pursuant to and in accordance with the
terms of the Purchase Agreement.

       RESOLVED FURTHER, that the proper officers of the Corporation, and each
of them, are hereby authorized and directed in the name and on behalf of the
Corporation to cause the Corporation to fulfill its obligations under the
Purchase Agreement.

       RESOLVED FURTHER, that the proper officers of the Corporation, and each
of them, are hereby authorized and directed to take or cause to be taken any and
all actions and to prepare or cause to be prepared and to execute and deliver
any and all deeds and other documents, instruments and agreements that shall be
necessary, advisable or appropriate, in such officer's sole and absolute
discretion, to carry out the intent and to accomplish the purposes of the
foregoing resolutions.

                               EXHIBIT E - PAGE 2
<PAGE>   72

                                    EXHIBIT F

                                FIRPTA STATEMENT

       Section 1445 of the Internal Revenue Code of 1986, as amended, provides
that a transferee of a U.S. real property interest must withhold tax if the
transferor is a foreign person. Sections 18805, 18815 and 26131 of the
California Revenue and Taxation Code, as amended, provide that a transferee of a
California real property interest must withhold income tax if the transferor is
a nonresident seller.

       To inform [NAI OR THE APPLICABLE PURCHASER] (the "Transferee") that
withholding of tax is not required upon the disposition of a California real
property interest by transferor, BNP Leasing Corporation (the "Seller"), the
undersigned hereby certifies the following on behalf of the Seller:

       1. The Seller is not a foreign corporation, foreign partnership, foreign
trust, or foreign estate (as those terms are defined in the Internal Revenue
Code and Income Tax Regulations);

       2. The United States employer identification number for the Seller is
_____________________;

       3. The office address of the Seller is ______________
_________________________ _________________.

       4. The Seller is qualified to do business in California.

       The Seller understands that this certification may be disclosed to the
Internal Revenue Service and/or to the California Franchise Tax Board by the
Transferee and that any false statement contained herein could be punished by
fine, imprisonment, or both.

       The Seller understands that the Transferee is relying on this affidavit
in determining whether withholding is required upon said transfer.

       Under penalties of perjury I declare that I have examined this
certification and to the best of my knowledge and belief it is true, correct and
complete, and I further declare that I have authority to sign this document on
behalf of the Seller.

       Dated: ___________, ____.

                                    By:
                                       -----------------------------------------
                                      Name:
                                           -------------------------------------
                                      Title:
                                            ------------------------------------

                               EXHIBIT F - PAGE 1<PAGE>   1
                                                                   EXHIBIT 10.70

                                PLEDGE AGREEMENT
                                (PHASE IV - LAND)

                                      AMONG

                             BNP LEASING CORPORATION

                                    ("BNPLC")

                                       AND

                              BNP PARIBAS, AS AGENT

                                    ("AGENT")

                             NETWORK APPLIANCE, INC.

                                     ("NAI")

                                       AND

                        PARTICIPANTS AS DESCRIBED HEREIN

                                 OCTOBER 2, 2000

<PAGE>   2
                                TABLE OF CONTENTS

<TABLE>
<S>                                                                                                            <C>
ARTICLE I DEFINITIONS AND INTERPRETATION.....................................................................     2
         Section 1.1 Capitalized Terms Used But Not Defined in This Agreement................................     2
         Section 1.2 Definitions.............................................................................     2
         Section 1.3 Attachments.............................................................................     7
         Section 1.4 Amendment of Defined Instruments........................................................     8
         Section 1.5 References and Titles...................................................................     8

ARTICLE II SECURITY INTEREST.................................................................................     8
         Section 2.1 Pledge and Grant of Security Interest...................................................     8
         Section 2.2 Return of Collateral After the Secured Obligations are Satisfied in Full................     9

ARTICLE III DESIGNATION OF MINIMUM COLLATERAL PERCENTAGE AND INITIAL DEPOSIT TAKER...........................     9
         Section 3.1 Minimum Collateral Percentage...........................................................     9
         Section 3.2 Initial Deposit Taker...................................................................     9

ARTICLE IV PROVISIONS CONCERNING DEPOSIT TAKERS..............................................................     9
         Section 4.1 Qualification of Deposit Takers Generally...............................................     9
         Section 4.2 Additional Requirement Prior to the Base Rent Commencement Date (All Buildings).........    10
         Section 4.3 Replacement of Participants Proposed by NAI.............................................    10
         Section 4.4 Mandatory Substitutions for Unaffiliated Deposit Takers and Disqualified
                       Deposit Takers........................................................................    11
         Section 4.5 Voluntary Substitution of Deposit Takers................................................    11
         Section 4.6 Delivery of Notice of Security Interest by NAI and Agent................................    11
         Section 4.7 Constructive Possession of Collateral...................................................    12
         Section 4.8 Attempted Setoff by Deposit Takers......................................................    12
         Section 4.9 Deposit Taker Losses....................................................................    13
         Section 4.10 Losses Resulting from Failure of Deposit Taker to Comply with this Agreement...........    13
         Section 4.11 Losses Resulting from Failure of an Unaffiliated Deposit Taker to Comply with
                        this Agreement.......................................................................    13

ARTICLE V DELIVERY AND MAINTENANCE OF CASH COLLATERAL........................................................    13
         Section 5.1 Delivery of Funds by NAI................................................................    13
         Section 5.2 Transition Account......................................................................    14
         Section 5.3 Allocation of Cash Collateral Among Deposit Takers......................................    14
         Section 5.4 Issuance and Redemption of Certificates of Deposit......................................    14
         Section 5.5 Status of the Accounts Under the Reserve Requirement Regulations........................    15
         Section 5.6 Acknowledgment by NAI that Requirements of this Agreement are Commercially
                       Reasonable............................................................................    15
</TABLE>

                                       i

<PAGE>   3

<TABLE>
<S>                                                                                                            <C>
ARTICLE VI WITHDRAWAL OF CASH COLLATERAL.....................................................................    15
         Section 6.1 Withdrawal of Collateral Prior to the Designated Sale Date..............................    16
         Section 6.2 Withdrawal and Application of Cash Collateral to Reduce or Satisfy the Secured
                       Obligations to the Participants.......................................................    16
         Section 6.3 Withdrawal and Application of Cash Collateral to Reduce or Satisfy the Secured
                       Obligations to BNPLC..................................................................    17
         Section 6.4 Withdrawal of Cash Collateral From Accounts Maintained by Disqualified Deposit
                       Takers................................................................................    17

ARTICLE VII REPRESENTATIONS AND COVENANTS OF NAI.............................................................    17
         Section 7.1 Representations of NAI..................................................................    17
         Section 7.2 Covenants of NAI........................................................................    18

ARTICLE VIII AUTHORIZED ACTION BY AGENT......................................................................    19
         Section 8.1 Power of Attorney.......................................................................    19

ARTICLE IX DEFAULT AND REMEDIES..............................................................................    20
         Section 9.1 Remedies................................................................................    20

ARTICLE X OTHER RECOURSE.....................................................................................    20
         Section 10.1 Recovery Not Limited...................................................................    20

ARTICLE XI PROVISIONS CONCERNING AGENT.......................................................................    21
         Section 11.1 Appointment and Authority..............................................................    21
         Section 11.2 Exculpation, Agent's Reliance, Etc.....................................................    21
         Section 11.3 Participant's Credit Decisions.........................................................    22
         Section 11.4 Indemnity..............................................................................    22
         Section 11.5 Agent's Rights as Participant and Deposit Taker........................................    23
         Section 11.6 Investments............................................................................    23
         Section 11.7 Benefit of Article XI..................................................................    23
         Section 11.8 Resignation............................................................................    23

ARTICLE XII MISCELLANEOUS....................................................................................    24
         Section 12.1 Provisions Incorporated From Other Operative Documents.................................    24
         Section 12.2 Cumulative Rights, etc.................................................................    24
         Section 12.3 Survival of Agreements.................................................................    24
         Section 12.4 Other Liable Party.....................................................................    24
         Section 12.5 Termination............................................................................    24
         Section 12.6 Amendment and Restatement..............................................................    24
</TABLE>

<TABLE>
<S>        <C>
Attachment 1.........................................................................Form of Certificate of Deposit

Attachment 2.......................................................Supplement to Pledge Agreement (Phase IV - Land)

Attachment 3....................................................................Form of Notice of Security Interest

Attachment 4.............................Alternate Form of Notice of Security Interest (Unaffiliated Deposit Taker)
</TABLE>

                                       ii
<PAGE>   4

<TABLE>
<S>        <C>
Attachment 5...............................................................................Examples of Calculations

Attachment 6.........................................Notice of NAI's Requirement to Withdraw Excess Cash Collateral

Attachment 7.........................................Notice of NAI's Requirement of Direct Payments to Participants

Attachment 8................................................Notice of NAI's Requirement of Direct Payments to BNPLC

Attachment 9.......Notice of NAI's Requirement of a Withdrawal of Cash Collateral from a Disqualified Deposit Taker

Schedule   1.............................................................Financial Covenants and Negative Covenants
</TABLE>

                                      iii
<PAGE>   5
                                PLEDGE AGREEMENT
                                (PHASE IV - LAND)

        This PLEDGE AGREEMENT (PHASE IV - LAND) (this "AGREEMENT") is made as of
October 2, 2000 (the "EFFECTIVE DATE"), by NETWORK APPLIANCE, INC., a California
corporation ("NAI"); BNP LEASING CORPORATION, a Delaware corporation ("BNPLC");
BNP PARIBAS ("BNPLC'S PARENT"), as a "PARTICIPANT"; and BNP PARIBAS, acting in
its capacity as agent for BNPLC and the Participants (in such capacity,
"AGENT"), is made and dated as of the Effective Date.

                                    RECITALS

        A. NAI and BNPLC are parties to: (i) a Common Definitions and Provisions
Agreement (Phase IV - Land) dated as of the Effective Date (the "COMMON
DEFINITIONS AND PROVISIONS AGREEMENT (PHASE IV - Land)"); and (ii) a Purchase
Agreement (Phase IV - Land) dated as of the Effective Date (the "PURCHASE
AGREEMENT"), pursuant to which NAI has agreed to make a "SUPPLEMENTAL PAYMENT"
or "ISSUE 97-10 PREPAYMENT" (both as defined in the Common Definitions and
Provisions Agreement (Phase IV - Land), in consideration of the rights granted
to NAI by the Purchase Agreement.

        B. NAI, BNPLC, and BNPLC's Parent previously executed a Pledge Agreement
(Phase IV - Land) dated as of December 20, 1999 (the "Prior Pledge Agreement"),
to which The Bank of Nova Scotia, Comerica Bank-California, FBTC Leasing Corp.,
The Industrial Bank of Japan, KeyBank National Association, and Wells Fargo
Bank, N.A. (collectively, the "NON-BNP PARTICIPANTS") were made a party pursuant
to various Supplements to Pledge Agreement dated February 22, 2000. Concurrently
herewith, the Non-BNP Participants have agreed to terminate and release their
interests in the Prior Participation Agreement and all Operative Documents
executed in connection therewith. NAI, BNPLC, and BNPLC's Parent have agreed to
amend, restate and replace the Prior Pledge Agreement with this Agreement as
provided in Section 12.6 below.

        C. Pursuant to a Participation Agreement dated the date hereof (the
"PARTICIPATION AGREEMENT"), BNPLC's Parent has agreed with BNPLC to participate
in the risks and rewards to BNPLC of the Purchase Agreement and other Operative
Documents (as defined in the Common Definitions and Provisions Agreement (Phase
IV - Land), and the parties to this Agreement anticipate that other financial
institutions may become parties to the Participation Agreement as Participants,
agreeing to participate in the risks and rewards to BNPLC of the Purchase
Agreement and other Operative Documents.

        D. NAI may from time to time deliver cash collateral for its obligations
to BNPLC under the Purchase Agreement and for BNPLC's corresponding obligations
to Participants under the Participation Agreement. This Agreement sets forth the
terms and conditions governing such cash collateral.

<PAGE>   6
                                    AGREEMENT

        NOW, THEREFORE, in consideration of the above recitals and for other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

                    ARTICLE I DEFINITIONS AND INTERPRETATION

        Section 1.1 Capitalized Terms Used But Not Defined in This Agreement.
All capitalized terms used in this Agreement which are defined in Article I of
the Common Definitions and Provisions Agreement (Phase IV - Land) and not
otherwise defined herein shall have the same meanings herein as set forth in the
Common Definitions and Provisions Agreement (Phase IV - Land). All terms used in
this Agreement which are defined in the UCC and not otherwise defined herein
shall have the same meanings herein as set forth therein, except where the
context otherwise requires.

        Section 1.2 Definitions. When used in this Agreement, the following
terms shall have the following respective meanings:

               "ACCOUNT" shall mean any deposit account maintained by a Deposit
        Taker into which Cash Collateral may be deposited at any time, excluding
        the Transition Account.

               "ACCOUNT OFFICE" shall mean, with respect to any Account
        maintained by any Deposit Taker, the office of such Deposit Taker in
        California or New York at which such Account is maintained as specified
        in the applicable Deposit Taker's Acknowledgment and Agreement.

               "AGENT" shall have the meaning given to that term in the
        introductory paragraph hereof.

               "BNPLC" shall have the meaning given to that term in the
        introductory paragraph hereof.

               "BNPLC'S CORRESPONDING OBLIGATIONS TO PARTICIPANTS" shall mean
        BNPLC's obligations under the Participation Agreement to pay
        Participants their respective Percentages of (or amounts equal to their
        respective Percentages of) sums "actually received by BNPLC" (as defined
        in the Participation Agreement) in satisfaction of NAI's Purchase
        Agreement Obligations; provided, however, any modification of the
        Participation Agreement executed after the date hereof without NAI's
        written consent shall not be considered for purposes of determining
        BNPLC's Corresponding Obligations to Participants under this Agreement.

               "CASH COLLATERAL" shall mean (i) all money of NAI which NAI has
        delivered to Agent for deposit with a Deposit Taker pursuant to this
        Agreement, and (ii) any additional money delivered to Agent as
        Collateral pursuant to Section 4.9.

               "CERTIFICATE OF DEPOSIT" shall mean a certificate of deposit
        issued by a Deposit Taker as required by Section 5.4 below to evidence
        an Account into which Cash

                                       2
<PAGE>   7
        Collateral has been deposited pursuant to this Agreement. Each
        Certificate of Deposit shall be issued in an amount equal to the Value
        of the Account which it evidences and shall otherwise be in the form set
        forth as ATTACHMENT 1.

               "COLLATERAL" shall have the meaning given to that term in Section
        2.1 hereof.

               "COLLATERAL IMBALANCE" shall mean on any date prior to the
        Designated Sale Date that the Value (without duplication) of Accounts
        maintained by and Certificates of Deposit issued by the Deposit Taker
        for any Participant (other than a Disqualified Deposit Taker) does not
        equal such Participant's Percentage, multiplied by the lesser of (1) the
        Minimum Collateral Value in effect on such date, or (2) the aggregate
        Value of all Collateral subject to this Agreement on such date. For
        purposes of determining whether a Collateral Imbalance exists, the Value
        of any Accounts maintained by a bank that is acting as Deposit Taker for
        two or more Participants will be deemed to be held for them in
        proportion to their respective Percentages, and the Value of any
        Accounts maintained by a bank as Deposit Taker for both a Participant
        and BNPLC (as in the case of BNPLC's Parent acting as Deposit Taker for
        itself, as a Participant, and for BNPLC) will be deemed to be held for
        the Participant only to the extent necessary to prevent or mitigate a
        Collateral Imbalance and otherwise for BNPLC.

               "COLLATERAL PERCENTAGE" shall mean one hundred percent (100%).

               "DEFAULT" means any Event of Default and any default, event or
        condition which would, with the giving of any requisite notices and the
        passage of any requisite periods of time, constitute an Event of
        Default.

               "DEPOSIT TAKER" for BNPLC shall mean BNPLC's Parent and for each
        Participant shall mean the Participant itself; provided, that each of
        BNPLC and the Participants, for itself only, may from time to time
        designate another Deposit Taker as provided in Sections 3.2, 4.2, 4.4
        and 4.5 below.

               "DEPOSIT TAKER LOSSES" shall mean the Value of any Cash
        Collateral delivered to a Deposit Taker, but that the Deposit Taker will
        not (because of the insolvency of the Deposit Taker, offsets by the
        Deposit Taker in violation of the Deposit Taker's Acknowledgment and
        Agreement, or otherwise) return to NAI or return to Agent for
        disposition or application as provided herein or as required by
        applicable law.

               "DEPOSIT TAKER'S ACKNOWLEDGMENT AND AGREEMENT" shall have the
        meaning given to that term in subSection 4.1.2 hereof.

               "DISQUALIFIED DEPOSIT TAKER" shall mean any Deposit Taker with
        whom Agent may decline to deposit Collateral pursuant to Section 4.1.

               "EVENT OF DEFAULT" shall mean the occurrence of any of the
        following:

                                       3
<PAGE>   8
               (a) the failure by NAI to pay all or any part of NAI's Purchase
        Agreement Obligations when due, after giving effect to any applicable
        notice and grace periods expressly provided for in the Purchase
        Agreement;

               (b) the failure by NAI to provide funds as and when required by
        Section 5.1 of this Agreement, if within seven Business Days after such
        failure commences NAI does not (1) cure such failure by delivering the
        funds required by Section 5.1, and (2) pay to BNPLC as additional Rent
        under the Land Lease an amount equal to interest at the Default Rate on
        such funds for the period from which they were first due to the date of
        receipt by Agent;

               (c) the failure of the pledge or security interest contemplated
        herein in the Transition Account or any Account, Certificate of Deposit
        or Cash Collateral to be a Qualified Pledge (regardless of the
        characterization of the Transition Account or any Accounts, Certificates
        of Deposit or Cash Collateral as deposit accounts, instruments or
        general intangibles under the UCC), if within five Business Days after
        NAI becomes aware of such failure, NAI does not (1) notify Agent, BNPLC
        and the Participants of such failure, and (2) cure such failure, and (3)
        to the extent required by Section 7.2.9, pay to BNPLC any additional
        Base Rent that has accrued under the Land Lease because of (or that
        would have accrued if BNPLC had been aware of) such failure, together
        with interest at the Default Rate on any such additional Base Rent;

               (d) the failure of any representation herein by NAI to be true
        (other than a failure described in another clause of this definition of
        Event of Default), if such failure is not cured within thirty days after
        NAI receives written notice thereof from Agent;

               (e) the failure of any representation made by NAI in subSection
        7.1.1 to be true, if within fifteen (15) days after NAI becomes aware of
        such failure, NAI does not (1) notify Agent, BNPLC and the Participants
        of such failure, and (2) cure such failure, and (3) pay to BNPLC any
        additional Base Rent that has accrued under the Land Lease because of
        (or that would have accrued if BNPLC had been aware of) such failure,
        and (4) pay to BNPLC interest at the Default Rate on any such additional
        Base Rent;

               (f) the failure by NAI timely and properly to observe, keep or
        perform any covenant, agreement, warranty or condition herein required
        to be observed, kept or performed (other than a failure described in
        another clause of this definition of Event of Default), if such failure
        is not cured within thirty days after NAI receives written notice
        thereof from Agent; and

               (g) the failure by BNPLC to pay when due on or after the
        Designated Sale Date any of BNPLC's Corresponding Obligations to
        Participants, after giving effect to any applicable notice and grace
        periods expressly provided for in the Participation Agreement.

Notwithstanding the foregoing, if ever the aggregate Value of Cash Collateral
held by Agent and the Deposit Takers EXCEEDS the Minimum Collateral Value then
in effect, a failure of the pledge or security interest contemplated herein in
SUCH EXCESS Cash Collateral to be a valid, perfected,

                                       4
<PAGE>   9
first priority pledge or security interest shall not constitute an Event of
Default under this Agreement. Accordingly, to provide a cure as required to
avoid an Event of Default under clauses (c) or (e) of this definition, NAI could
deliver additional Cash Collateral - the pledge of which or security interest in
which created by this Agreement is a Qualified Pledge - sufficient in amount to
cause the aggregate Value of the Cash Collateral then held by Agent and the
Deposit Takers subject to a Qualified Pledge hereunder to equal or exceed the
Minimum Collateral Value.

               "EXCLUDED DEPOSIT TAKER LOSSES" shall mean the Value of any Cash
        Collateral delivered to an Unaffiliated Deposit Taker, but that the
        Unaffiliated Deposit Taker will not (because of the insolvency of the
        Unaffiliated Deposit Taker, offsets by the Unaffiliated Deposit Taker in
        violation of its Deposit Taker's Acknowledgment and Agreement, or
        otherwise) return to NAI or return to Agent for disposition or
        application as provided herein or as required by applicable law.

               "INITIALLY QUALIFIED DEPOSIT TAKER" means (1) BNP Paribas, acting
        through any branch, office or agency that can lawfully maintain an
        Account as a Deposit Taker hereunder, (2) The Bank of New York, acting
        through any branch, office or agency that can lawfully maintain an
        Account as a Deposit Taker hereunder, and (3) any of the fifty largest
        (measured by total assets) U.S. banks, or one of the one hundred largest
        (measured by total assets) banks in the world, with debt ratings of at
        least (i) A- (in the case of long term debt) and A-1 (in the case of
        short term debt) or the equivalent thereof by Standard and Poor's
        Corporation, and (ii) A3 (in the case of long term debt) and P-2 (in the
        case of short term debt) or the equivalent thereof by Moody's Investor
        Service, Inc. The parties believe it improbable that the ratings systems
        used by Standard and Poor's Corporation and by Moody's Investor Service,
        Inc. will be discontinued or changed, but if such ratings systems are
        discontinued or changed, NAI shall be entitled to select and use a
        comparable ratings systems as a substitute for the S&P Rating or the
        Moody Rating, as the case may be, for purposes of determining the status
        of any bank as an Initially Qualified Deposit Taker.

               "LIEN" shall mean, with respect to any property or assets, any
        right or interest therein of a creditor to secure indebtedness of any
        kind which is owed to him or any other arrangement with such creditor
        which provides for the payment of such indebtedness out of such property
        or assets or which allows him to have such indebtedness satisfied out of
        such property or assets prior to the general creditors of any owner
        thereof, including any lien, mortgage, security interest, pledge,
        deposit, production payment, rights of a vendor under any title
        retention or conditional sale agreement or lease substantially
        equivalent thereto, tax lien, mechanic's or materialman's lien, or any
        other charge or encumbrance for security purposes, whether arising by
        law or agreement or otherwise, but excluding any right of setoff which
        arises without agreement in the ordinary course of business. "Lien" also
        means any filed financing statement, any registration with an issuer of
        uncertificated securities, or any other arrangement which would serve to
        perfect a Lien described in the preceding sentence, regardless of
        whether such financing statement is filed, such registration is made, or
        such arrangement is undertaken before or after such Lien exists.

                                       5
<PAGE>   10
               "MATERIAL LEASE DEFAULT" shall mean any of the following:

               (1) any "Event of Default" under and as defined in the Land
        Lease, including any such Event of Default consisting of a failure of
        NAI to comply with the requirements of Exhibit I attached to the Land
        Lease; and

               (2)(a) any failure of NAI to make any payment required by and
        when first due under the Land Lease, regardless of whether any period
        provided in the Land Lease for the cure of such failure by NAI shall
        have expired, and (b) any other default, event or condition which would,
        with the giving of any requisite notices and the passage of any
        requisite periods of time, constitute an "Event of Default" under and as
        defined in the Land Lease, if such other default, event or failure
        involves a material noncompliance with Applicable Law. (For purposes of
        this definition, "material" noncompliance with Applicable Law will
        include any noncompliance, the correction of which has been requested by
        a governmental authority, or because of which a threat of action against
        the Property or BNPLC has been asserted by a governmental authority.)

               "MINIMUM COLLATERAL VALUE" shall mean (1) as of the Designated
        Sale Date or any prior date, an amount equal to the Collateral
        Percentage multiplied by the Stipulated Loss Value determined as of that
        date in accordance with the Land Lease; and (2) as of any date after the
        Designated Sale Date, an amount equal to the Break Even Price plus any
        unpaid interest accrued on past due amounts payable pursuant to
        Paragraph 1(a) of the Purchase Agreement.

               "NAI" shall have the meaning given to that term in the
        introductory paragraph hereof.

               "NAI'S PURCHASE AGREEMENT OBLIGATIONS" shall mean all of NAI's
        obligations under the Purchase Agreement, including (i) NAI's obligation
        to pay any Supplemental Payment as required under subparagraph 1(A) of
        the Purchase Agreement, (ii) NAI's obligation to pay any Issue 97-10
        Prepayment as required by subparagraph 4(C) of the Purchase Agreement,
        and (iii) any damages incurred by BNPLC because of (A) NAI's breach of
        the Purchase Agreement or (B) the rejection by NAI of the Purchase
        Agreement in any bankruptcy or insolvency proceeding.

               "NOTICE OF SECURITY INTEREST" shall have the meaning given to
        that term in subSection 4.1.1 hereof.

               "OTHER LIABLE PARTY" shall mean any Person, other than NAI, who
        may now or may at any time hereafter be primarily or secondarily liable
        for any of the Secured Obligations or who may now or may at any time
        hereafter have granted to Agent a pledge of or security interest in any
        of the Collateral.

               "PARTICIPANTS" shall mean BNPLC's Parent and any other financial
        institutions which may hereafter become parties to (i) this Agreement by
        completing, executing and delivering to NAI and Agent a Supplement, and
        (ii) the Participation Agreement.

                                       6
<PAGE>   11
               "PARTICIPATION AGREEMENT" shall have the meaning given to such
        term in Recital B hereof.

               "PERCENTAGE" shall mean with respect to each Participant and the
        Deposit Taker for such Participant, such Participant's "Percentage"
        under and as defined in the Participation Agreement for purposes of
        computing such Participant's right thereunder to receive payments of (or
        amounts equal to a percentage of) any sales proceeds or Supplemental
        Payment received by BNPLC under the Purchase Agreement. Percentages may
        be adjusted from time to time as provided in the Participation Agreement
        or as provided in supplements thereto executed as provided in the
        Participation Agreement.

               "QUALIFIED PLEDGE" means a pledge or security interest that
        constitutes a valid, perfected, first priority pledge or security
        interest.

               "SECURED OBLIGATIONS" shall mean and include both NAI's Purchase
        Agreement Obligations and BNPLC's Corresponding Obligations to
        Participants.

               "SUPPLEMENT" shall mean a supplement to this Agreement in the
        form of ATTACHMENT 2.

               "TRANSACTION DOCUMENTS" shall mean, collectively, this Agreement,
        the Land Lease, the Purchase Agreement and the Participation Agreement.

               "TRANSITION ACCOUNT" shall have the meaning given it in Section
        5.2.

               "UCC" shall mean the Uniform Commercial Code as in effect in the
        State of California from time to time, and the Uniform Commercial Code
        as in effect in any other jurisdiction which governs the perfection or
        non-perfection of the pledge of and security interests in the Collateral
        created by this Agreement.

               "UNAFFILIATED DEPOSIT TAKER" means (1) the bank designated as
        provided in Section 3.2 to act as the initial Deposit Taker for BNPLC
        and the Participants, or (2) any other Deposit Taker designated as
        provided in Article IV prior to the Base Rent Commencement Date (All
        Buildings) (and thus having to meet the requirements of Section 4.2).

               "VALUE" shall mean with respect to any Account, Certificate of
        Deposit or Cash Collateral on any date, a dollar value determined as
        follows (without duplication):

                        (a) cash shall be valued at its face amount on such
                date;

                        (b) an Account shall be valued at the principal balance
                thereof on such date; and

                        (c) a Certificate of Deposit shall be valued at the face
                amount thereof.

        Section 1.3 Attachments. All attachments to this Agreement are a part
hereof for all purposes.

                                       7
<PAGE>   12
        Section 1.4 Amendment of Defined Instruments. Unless the context
otherwise requires or unless otherwise provided herein, references in this
Agreement to a particular agreement, instrument or document (including
references to the Land Lease, Purchase Agreement and Participation Agreement)
also refer to and include all valid renewals, extensions, amendments,
modifications, supplements or restatements of any such agreement, instrument or
document; provided that nothing contained in this Section shall be construed to
authorize any Person to execute or enter into any such renewal, extension,
amendment, modification, supplement or restatement.

        Section 1.5 References and Titles. All references in this Agreement to
Attachments, Articles, Sections, subsections, and other subdivisions refer to
the Attachments, Articles, Sections, subsections and other subdivisions of this
Agreement unless expressly provided otherwise. Titles appearing at the beginning
of any subdivision are for convenience only and do not constitute any part of
any such subdivision and shall be disregarded in construing the language
contained in this Agreement. The words "this Agreement", "herein", "hereof",
"hereby", "hereunder" and words of similar import refer to this Agreement as a
whole and not to any particular subdivision unless expressly so limited. The
phrases "this Article," "this Section" and "this subsection" and similar phrases
refer only to the Articles, Sections or subsections hereof in which the phrase
occurs. The word "or" is not exclusive, and the word "including" (in all of its
forms) means "including without limitation". Pronouns in masculine, feminine and
neuter gender shall be construed to include any other gender, and words in the
singular form shall be construed to include the plural and vice versa unless the
context otherwise requires.

                          ARTICLE II SECURITY INTEREST

        Section 2.1 Pledge and Grant of Security Interest. As security for the
Secured Obligations, NAI hereby pledges and assigns to Agent (for the ratable
benefit of BNPLC and the Participants) and grants to Agent (for the ratable
benefit of BNPLC and the Participants) a continuing security interest and lien
in and against all right, title and interest of NAI in and to the following
property, whether now owned or hereafter acquired by NAI (collectively and
severally, the "COLLATERAL"):

               (a) All Cash Collateral, all Accounts, the Transition Account and
        all Certificates of Deposit issued from time to time and general
        intangibles arising therefrom or relating thereto (however, "general
        intangibles" as used in this clause shall not include any general
        intangibles not related to Cash Collateral, Accounts, the Transition
        Account or Certificates of Deposit issued from time to time, and thus
        will not include, without limitation, any intellectual property of NAI);
        and all documents, instruments and agreements evidencing the same; and
        all extensions, renewals, modifications and replacements of the
        foregoing; and any interest or other amounts payable in connection
        therewith; and

               (b) All proceeds of the foregoing (including whatever is
        receivable or received when Collateral or proceeds is invested, sold,
        collected, exchanged, returned, substituted or otherwise disposed of,
        whether such disposition is voluntary or involuntary, including rights
        to payment and return premiums and insurance proceeds

                                       8
<PAGE>   13
        under insurance with respect to any Collateral, and all rights to
        payment with respect to any cause of action affecting or relating to the
        Collateral).

The pledge, assignment and grant of a security interest made by NAI hereunder is
for security of the Secured Obligations only; the parties to this Agreement do
not intend that NAI's delivery of the Collateral to Agent as herein provided
will constitute an advance payment of any Secured Obligations or liquidated
damages, nor do the parties intend that the Collateral increase the dollar
amount of the Secured Obligations.

        Section 2.2 Return of Collateral After the Secured Obligations are
Satisfied in Full. If any proceeds of Collateral remain after all Secured
Obligations have been paid in full, Agent will deliver or direct the Deposit
Takers to deliver such proceeds to NAI or other Persons entitled thereto by law.

                  ARTICLE III DESIGNATION OF MINIMUM COLLATERAL
                      PERCENTAGE AND INITIAL DEPOSIT TAKER

        Section 3.1 Minimum Collateral Percentage. At all times the Collateral
Percentage shall be one hundred percent (100%).

        Section 3.2 Initial Deposit Taker. NAI has requested that BNPLC and the
Participants each designate The Bank of New York as its initial Deposit Taker,
and BNPLC and the Participants have agreed to do so with the understanding of
all parties that such Deposit Taker is an Unaffiliated Deposit Taker for
purposes of this Agreement. Contemporaneously with the execution of this
Agreement, such Deposit Taker is receiving a Notice of Security Agreement and
responding with a Deposit Taker's Acknowledgment and Agreement, as contemplated
in subsections 4.1.1 and 4.1.2 below.

                 ARTICLE IV PROVISIONS CONCERNING DEPOSIT TAKERS

        Section 4.1 Qualification of Deposit Takers Generally. Agent may decline
to deposit or maintain Collateral hereunder with any Person designated as a
Deposit Taker, if such Person has failed to satisfy or no longer satisfies the
following requirements:

               4.1.1 Such Person must have received from Agent and NAI a
        completed, executed Notice of Security Interest (a "NOTICE OF SECURITY
        INTEREST"), either in the form of ATTACHMENT 3 or in the form of
        ATTACHMENT 4 as described in Section 4.6, which specifically identifies
        any and all Accounts in which such Person shall hold Cash Collateral
        delivered to it pursuant to this Agreement and which designates Account
        Offices with respect to all such Accounts in New York or California.

               4.1.2 Such Person must have executed the Acknowledgment and
        Agreement at the end of such Notice of Security Interest (the "DEPOSIT
        TAKER'S ACKNOWLEDGMENT AND AGREEMENT") and returned the same to Agent.
        Further, such Person must have complied with the Deposit Taker's
        Acknowledgment and Agreement, and the representations set forth therein
        with respect to such Person must continue to be true and correct.

                                       9
<PAGE>   14

               4.1.3 Such Person must be a commercial bank, organized under the
        laws of the United States of America or a state thereof or under the
        laws of another country which is doing business in the United States of
        America; must be authorized to maintain deposit accounts for others
        through Account Offices in New York or California (as specified in the
        Deposit Taker's Acknowledgment and Agreement); and must be an Affiliate
        of BNPLC or the Participant for whom such Person will act as Deposit
        Taker or must have a combined capital, surplus and undivided profits of
        at least $500,000,000.

               4.1.4 Such Person must have complied with the provisions in this
        Agreement applicable to Deposit Takers, including the provisions of
        Section 5.4 concerning the issuance and redemption of Certificates of
        Deposit.

        Section 4.2 Additional Requirement Prior to the Base Rent Commencement
Date (All Buildings). Prior to the Base Rent Commencement Date (All Buildings),
no Deposit Taker may be an Affiliate of BNPLC. However, on or after the Base
Rent Commencement Date (All Buildings): (1) BNPLC and BNPLC's Parent may each
designate BNPLC's Parent as its Deposit Taker pursuant to Section 4.5; (2) any
other Participant may designate itself as its Deposit Taker pursuant to Section
4.5, provided that the other Participant is not itself a Disqualified Deposit
Taker; and (3) pursuant to Section 4.6, Agent and NAI must promptly upon request
execute and deliver any properly completed Notice of Security Interest requested
by BNPLC or the applicable Participant to facilitate the designations
contemplated in this sentence.

        Section 4.3 Replacement of Participants Proposed by NAI. So long as no
Event of Default has occurred and is continuing, BNPLC shall not unreasonably
withhold its approval for a substitution under the Participation Agreement of a
new Participant proposed by NAI for any Participant, the Deposit Taker for whom
would no longer meet the requirements for an Initially Qualified Deposit Taker;
provided, however, that (A) the proposed substitution can be accomplished
without a release or breach by BNPLC of its rights and obligations under the
Participation Agreement; (B) the new Participant will agree (by executing a
Supplement and a supplement to the Participation Agreement as contemplated
therein and by other agreements as may be reasonably required by BNPLC and NAI)
to become a party to the Participation Agreement and to this Agreement, to
designate an Initially Qualified Deposit Taker as the Deposit Taker for it under
this Agreement and to accept a Percentage under the Participation Agreement
equal to the Percentage of the Participant to be replaced; (C) the new
Participant (or NAI) will provide the funds to pay the termination fee required
by Section 6.4 of the Participation Agreement to accomplish the substitution;
(D) NAI (or the new Participant) agrees in writing to indemnify and defend BNPLC
for any and all Losses incurred by BNPLC in connection with or because of the
substitution, including the cost of preparing supplements to the Participation
Agreement and this Agreement and including any cost of defending and paying any
claim asserted by the Participant to be replaced because of the substitution
(but not including any liability of BNPLC to such Participant for damages caused
by BNPLC's bad faith or gross negligence in the performance of BNPLC's
obligations under the Participation Agreement prior to the substitution); (E)
the new Participant shall be a reputable financial institution having a net
worth of no less than seven and one half percent (7.5%) of total assets and
total assets of no less than $10,000,000,000.00 (all according to then recent
audited financial statements); and (F) in no event will BNPLC be required to
approve a substitution pursuant to this Section 4.3 which will replace a
Participant that is an Affiliate of BNPLC. BNPLC shall attempt in good faith to
assist

                                       10
<PAGE>   15
(and cause BNPLC's Parent to attempt in good faith to assist) NAI in identifying
a new Participant that NAI may propose to substitute for an existing Participant
pursuant to this Section, as NAI may reasonably request from time to time.
However, in no event shall BNPLC itself, or any of its Affiliates, be required
to take the Percentage of any Participant to be replaced.

        Section 4.4 Mandatory Substitutions for Unaffiliated Deposit Takers and
Disqualified Deposit Takers.

               4.4.1 As of the Base Rent Commencement Date (All Buildings), the
        party for whom each Unaffiliated Deposit Taker is acting (i.e., BNPLC or
        the applicable Participant) shall designate a substitute Deposit Taker
        who is not an Unaffiliated Deposit Taker and cause the substitute to
        satisfy the requirements set forth in Section 4.1. (The substitutions
        required by this subSection will result in a transfer of Collateral from
        interest bearing accounts maintained with Unaffiliated Deposit Takers to
        non-interest bearing Accounts maintained with Deposit Takers that are
        not Unaffiliated Deposit Takers.)

               4.4.2 If, after the Base Rent Commencement Date (All Buildings),
        any Deposit Taker shall cease to satisfy the requirements set forth in
        Section 4.1, the party for whom such Disqualified Deposit Taker has been
        designated as Deposit Taker (i.e., BNPLC or the applicable Participant)
        shall promptly (1) provide notice thereof to Agent and NAI, and (2)
        designate a substitute Deposit Taker and cause the substitute to satisfy
        the requirements set forth in Section 4.1.

               4.4.3 Pending the designation of a substitute Deposit Taker when
        required by this Section 4.4 and the satisfaction by it of the
        requirements set forth in Section 4.1, Agent may withdraw Collateral
        held by the Deposit Taker to be replaced and deposit such Collateral
        with other Deposit Takers, subject to Section 5.3 below. If at any time
        no Deposit Takers have been designated that meet the requirements of
        Section 4.1 and, if applicable, Section 4.2, then Agent shall itself
        select one or more Deposit Takers for BNPLC and the Participants meeting
        such requirements.

        Section 4.5 Voluntary Substitution of Deposit Takers. With the written
approval of Agent, which approval will not be unreasonably withheld, BNPLC or
any Participant may at any time designate for itself a new Deposit Taker (in
replacement of any prior Deposit Taker acting for it hereunder); provided, the
Person so designated has satisfied the requirements set forth in Section 4.1;
and, provided further, unless the designation of a new Deposit Taker is required
by Section 4.4 to replace a Disqualified Deposit Taker, at the time of the
replacement such Person must be an Initially Qualified Deposit Taker.

        Section 4.6 Delivery of Notice of Security Interest by NAI and Agent. To
the extent required for the designation of a new Deposit Taker by BNPLC or any
Participant pursuant to Section 4.5, or to permit the substitution or
replacement of a Deposit Taker for BNPLC or any Participant as provided in
Sections 4.4 and 4.5, NAI and Agent shall promptly execute and deliver any
properly completed Notice of Security Interest requested by BNPLC or the
applicable Participant. The form of Notice of Security Agreement attached as
ATTACHMENT 3 shall be used for any Deposit Taker other than an Unaffiliated
Deposit Taker.

                                       11
<PAGE>   16
The form of Notice of Security Agreement attached as ATTACHMENT 4 shall be used
for any Unaffiliated Deposit Taker.

        In the case of any Notice of Security Agreement to be used for an
Unaffiliated Deposit Taker, the form attached as ATTACHMENT 4 shall be completed
by the insertion (as suggested by the clause in brackets at the end of the
Acknowledgment and Agreement which is part of such form) of a description of how
interest will be calculated on Collateral held by such Unaffiliated Deposit
Taker from time to time. The Notice and Agreement used for the initial Deposit
Taker (designated as provided in Section 3.2) confirms that such Deposit Taker
will pay interest at a rate, initially, equal to 6.1%. NAI acknowledges,
however, that such Notice and Agreement also gives the initial Deposit Taker the
right to adjust such rate from time to time, and neither BNPLC nor Agent nor any
Participant has assured NAI of any minimum rate of interest or of any method of
calculating interest on Collateral held from time to time by any other
Unaffiliated Deposit Taker. Any party (be it BNPLC or any Participant or Agent)
designating another Unaffiliated Deposit Taker to act as a replacement of the
initial Deposit Taker, as provided in other provisions of this Agreement, will
attempt in good faith to persuade the replacement to pay interest on Collateral
at a reasonable rate for time deposits, but no such party shall have any
liability hereunder, nor shall NAI have any defense hereunder or under the other
Operative Documents, because of the refusal of the replacement to pay a rate of
interest satisfactory to NAI.

        Section 4.7 Constructive Possession of Collateral. The possession by a
Deposit Taker of any deposit accounts, money, instruments, chattel paper or
other property constituting Collateral or evidencing Collateral shall be deemed
to be possession by Agent or a person designated by Agent, for purposes of
perfecting the security interest granted to Agent hereunder pursuant to the UCC
or other Applicable Law; and notifications to a Deposit Taker by other Persons
holding any such property, and Acknowledgments, receipts or confirmations from
any such Persons delivered to a Deposit Taker, shall be deemed notifications to,
or Acknowledgments, receipts or confirmations from, financial intermediaries,
bailees or agents (as applicable) of such Deposit Taker for the benefit of Agent
for the purposes of perfecting such security interests under Applicable Law.

        Section 4.8 Attempted Setoff by Deposit Takers. By delivery of a Deposit
Taker's Acknowledgment and Agreement, each Deposit Taker shall be required to
agree not to setoff or attempt a setoff, WITHOUT IN EACH CASE FIRST OBTAINING
THE PRIOR WRITTEN AUTHORIZATION OF AGENT, Secured Obligations owed to it against
any Collateral held by it from time to time. Further, by delivery of a Deposit
Taker's Acknowledgment and Agreement, each Deposit Taker shall be required to
agree not to setoff or attempt a setoff, WITHOUT IN EACH CASE FIRST OBTAINING
THE PRIOR WRITTEN AUTHORIZATION OF BOTH NAI AND AGENT, obligations owed to it
other than Secured Obligations against any Collateral held by it from time to
time. Any Deposit Taker for BNPLC or a Participant shall not be permitted by
BNPLC or the applicable Participant, as the case may be, to violate such
agreements. However, NAI acknowledges and agrees (without limiting its right to
recover damages from a Deposit Taker that violates such agreements) that Agent
shall not be responsible for, or be deemed to have taken any action against NAI
because of, any Deposit Taker's violation of such agreements; and, neither BNPLC
nor any Participant shall be responsible for, or be deemed to have taken any
action against NAI because of, any violation of such agreements by a Deposit
Taker for another party.

                                       12
<PAGE>   17
        Section 4.9 Deposit Taker Losses. Agent shall not be responsible for any
Deposit Taker Losses (including Excluded Deposit Taker Losses). However, Deposit
Taker Losses with respect to a Deposit Taker for a particular Participant (other
than Excluded Deposit Taker Losses) shall reduce the amount of BNPLC's
Corresponding Obligations to Participants which are payable to such Participant
as provided in Section 2.2 of the Participation Agreement. Further, when Deposit
Taker Losses with respect to a Deposit Taker for a particular Participant (other
than Excluded Deposit Taker Losses) are incurred in excess of the payments of
Secured Obligations that such Participant would then have been entitled to
receive under the Participation Agreement but for such Deposit Taker Losses,
such Participant must immediately pay the excess to Agent as additional
Collateral hereunder, failing which NAI may recover any damages suffered by it
because of the Deposit Taker Losses from such Deposit Taker or such Participant.

        Section 4.10 Losses Resulting from Failure of Deposit Taker to Comply
with this Agreement. Except as provided in the next Section, any Participant,
the Deposit Taker for whom has failed to comply with the requirements of this
Agreement or any Notices of Security Interest and any Deposit Taker's
Acknowledgments and Agreements (the "RESPONSIBLE PARTICIPANT") must defend,
indemnify, and hold harmless BNPLC, Agent and the other Participants from and
against any Losses resulting from such failure. Without limiting the foregoing,
if the failure of a Deposit Taker for a Responsible Participant to comply
strictly with the terms of this Agreement (including, without limitation, the
provisions of Section 5.4 concerning the issuance and redemption of Certificates
of Deposit and the requirement that any cash deposits be held in a deposit
account located in either New York or California) causes, in whole or in part,
the security interest of Agent in the Collateral held by such Deposit Taker to
be unperfected, then any and all Losses suffered as a result of such
nonperfection shall, except as provided in the next Section, be borne solely by
the Responsible Participant and shall not be shared by BNPLC, Agent or the other
Participants.

        Section 4.11 Losses Resulting from Failure of an Unaffiliated Deposit
Taker to Comply with this Agreement. Neither Agent, nor BNPLC nor any
Participant shall be responsible to NAI or any other party hereto for Excluded
Deposit Taker Losses or for any Losses resulting from the acts or omissions of
any Unaffiliated Deposit Taker, including Losses caused by a failure of an
Unaffiliated Deposit Taker to comply with the terms of this Agreement.

              ARTICLE V DELIVERY AND MAINTENANCE OF CASH COLLATERAL

        Section 5.1 Delivery of Funds by NAI. On each Base Rent Date, NAI must
deliver to Agent, subject to the pledge and security interest created hereby,
funds as Cash Collateral then needed (if any) to cause the Value of the
Collateral to be no less than the Minimum Collateral Value. Each delivery of
funds required by the preceding sentence must be received by Agent no later than
12:00 noon (San Francisco time) on the date it is required; if received after
12:00 noon it will be considered for purposes of this Agreement and the other
Operative Documents as received on the next following Business Day. At least
five Business Days prior to any Base Rent Date upon which it is expected that
NAI will be required to deliver additional funds pursuant to this Section, NAI
shall notify BNPLC, Agent and each of the Participants thereof and of the amount
NAI expects to deliver to Agent as Cash Collateral on the applicable Base Rent
Date. In addition to required deliveries of Cash Collateral as provided in the
foregoing provisions, NAI may on any date (whether or not a Base Rent Date)
deliver additional Cash Collateral to Agent

                                       13
<PAGE>   18
as necessary to prevent any Default from becoming an Event of Default. Upon
receipt of any funds delivered to it by NAI as Cash Collateral, Agent shall
immediately deposit the same with the Deposit Takers in accordance with the
requirements of Sections 5.3 and 5.4 below.

        Section 5.2 Transition Account. Pending deposit in the Accounts or other
application as provided herein, all Cash Collateral received by Agent shall be
credited to and held by Agent in an account (the "TRANSITION ACCOUNT") styled
"NAI Collateral Account, held for the benefit of BNP Leasing Corporation and the
Participants," separate and apart from all other property and funds of NAI or
other Persons, and no other property or funds shall be deposited in the
Transition Account. The books and records of Agent shall reflect that the
Transition Account and all Cash Collateral on deposit therein are owned by NAI,
subject to a pledge and security interest in favor of Agent for the benefit of
BNPLC and Participants.

        Section 5.3 Allocation of Cash Collateral Among Deposit Takers. Funds
received by Agent from NAI as Cash Collateral will be allocated for deposit
among the Deposit Takers as follows:

        first, to the extent possible the funds will be allocated as
        required to rectify and prevent any Collateral Imbalance; and

        second, the funds will be allocated to the Deposit Taker for BNPLC,
        unless the Deposit Taker for BNPLC has become a Disqualified Deposit
        Taker, in which case the funds will be allocated to other Deposit Takers
        who are not Disqualified Deposit Takers as Agent deems appropriate.

Further, if for any reason a Collateral Imbalance is determined by Agent to
exist, Agent shall, as required to rectify or mitigate the Collateral Imbalance,
promptly reallocate Collateral among Deposit Takers by withdrawing Cash
Collateral from some Accounts and redepositing it in other Accounts. (If any
party to this Agreement believes that the Value of the Accounts held by a
particular Deposit Taker causes a Collateral Imbalance to exist, that party will
promptly notify BNPLC, NAI and Agent.) Subject to the foregoing, and provided
that Agent does not thereby create or exacerbate a Collateral Imbalance, Agent
may withdraw and redeposit Cash Collateral in order to reallocate the same among
Deposit Takers from time to time as Agent deems appropriate. For purposes of
illustration only, examples of the allocations required by this Section are set
forth in ATTACHMENT 5.

        Section 5.4 Issuance and Redemption of Certificates of Deposit. Upon the
receipt of any deposit of Cash Collateral from Agent, each Deposit Taker shall
issue or cause to be issued a Certificate of Deposit evidencing the Account into
which such deposit is made and deliver such Certificate of Deposit to (or upon
the written direction of) Agent for the benefit of BNPLC and the Participants.
Each Certificate of Deposit shall be issued in an amount equal to the Value of
the Account which it evidences and shall otherwise be in the form indicated in
ATTACHMENT 1 to this Agreement. When Cash Collateral is deposited into an
Account that is already evidenced by an outstanding Certificate of Deposit held
by Agent, and when any Unaffiliated Deposit Taker is expected to add interest to
the principal balance of an Account that is already evidenced by an outstanding
Certificate of Deposit held by Agent, Agent will surrender the outstanding
Certificate of Deposit to the Deposit Taker that issued it and will direct

                                       14
<PAGE>   19
in writing that Deposit Taker to issue or cause the issue of a new Certificate
of Deposit in exchange, evidencing the total amount of Cash Collateral then in
the Account after the deposit or the addition of the interest. A Deposit Taker
that has issued or caused to be issued a Certificate of Deposit may require the
surrender of the Certificate of Deposit as a condition to a withdrawal from the
Account evidenced thereby, including any withdrawal required or permitted by
this Agreement. Upon surrender of a Certificate of Deposit in connection with a
withdrawal of less than all of the Cash Collateral in the Account evidenced
thereby, the applicable Deposit Taker will concurrently issue or cause to be
issued as directed in writing by the Agent a new Certificate of Deposit to
Agent, evidencing the balance of the Cash Collateral remaining on deposit in the
Account after the withdrawal. Notwithstanding the foregoing, if any Certificate
of Deposit held by Agent shall be destroyed, lost or stolen, the Deposit Taker
that issued the Certificate, upon the written request of Agent, shall issue or
cause to be issued a new Certificate of Deposit to Agent in lieu of and in
substitution for the Certificate of Deposit so destroyed, lost or stolen.
However, as applicant for the substitute Certificate of Deposit, Agent must
indemnify (at no cost to NAI) the applicable Deposit Taker against any liability
on the Certificate of Deposit destroyed, lost or stolen, and Agent shall furnish
to the Deposit Taker an affidavit of an officer of Agent setting forth the fact
of destruction, loss or theft and confirming the status of Agent as holder of
the Certificate of Deposit immediately prior to the destruction, loss or theft.
If any Certificate of Deposit held by Agent shall become mutilated, the Deposit
Taker that issued or caused to be issued the Certificate, upon the written
request of Agent, shall issue or cause to be issued a new Certificate of Deposit
to Agent in exchange and substitution for the mutilated Certificate of Deposit.
Agent shall hold all Certificates of Deposit for the benefit of BNPLC and the
Participants, subject to the pledge and security interest created hereby.

        Section 5.5 Status of the Accounts Under the Reserve Requirement
Regulations. Deposit Takers shall be permitted to structure the Accounts as
nonpersonal time deposits under 12 C.F.R., Part II, Chapter 204 (commonly known
as "Regulation D"). Accordingly, each Deposit Taker may require at least seven
days advance notice of any withdrawal or transfer of funds from Accounts it
maintains and may limit the number of withdrawals or transfers from such
Accounts to no more than six in any calendar month, notwithstanding anything to
the contrary herein or in any deposit agreement that NAI and any Deposit Taker
may enter into with respect to any Account. As necessary to satisfy the seven
days notice requirement with respect to withdrawals by Agent when required by
NAI pursuant to the provisions below, Agent shall notify Deposit Takers promptly
after receipt of any notice from NAI described in subSection 6.1.2 or 6.2.1 or
in Section 6.3.

        Section 5.6 Acknowledgment by NAI that Requirements of this Agreement
are Commercially Reasonable. NAI acknowledges and agrees that the requirements
set forth herein concerning receipt, deposit, withdrawal, allocation,
application and distribution of Cash Collateral by Agent, including the
requirements and time periods set forth in the next Article, are commercially
reasonable.

                    ARTICLE VI WITHDRAWAL OF CASH COLLATERAL

        NAI may not withdraw Cash Collateral, except as follows:

                                       15
<PAGE>   20
        Section 6.1 Withdrawal of Collateral Prior to the Designated Sale Date.
NAI may require Agent to present Certificates of Deposit for payment and
withdraw Cash Collateral from Accounts on any date prior to the Designated Sale
Date and to deliver such Cash Collateral to NAI (which delivery shall be free
and clear of all liens and security interests hereunder); provided, however,
that in each case:

               6.1.1 Such withdrawal and delivery of the Cash Collateral to NAI
        will not cause the Value of the remaining Collateral to be less than the
        Minimum Collateral Value.

               6.1.2 by a notice in the form of ATTACHMENT 6, NAI must give
        Agent, BNPLC and the Participants notice of the required withdrawal at
        least ten days prior to the date upon which the withdrawal is to occur.

               6.1.3 No Default or Event of Default shall have occurred and be
        continuing at the time NAI gives the notice required by the preceding
        subSection or on the date upon which the withdrawal is required.

               6.1.4 NAI must pay to Agent any and all costs incurred by Agent
        in connection with the withdrawal.

               6.1.5 Agent shall determine the Accounts from which to make any
        withdrawal required by NAI pursuant to this Section as necessary to
        prevent or mitigate any Collateral Imbalance.

        Section 6.2 Withdrawal and Application of Cash Collateral to Reduce or
Satisfy the Secured Obligations to the Participants. To reduce the "Break Even
Price" or "Supplemental Payment" required under (and as defined in) the Purchase
Agreement (and, thus, to reduce the Secured Obligations), NAI may require Agent
to withdraw Cash Collateral then held by or for Agent pursuant to this Agreement
on the Designated Sale Date and to deliver the same on the Designated Sale Date
or on any date thereafter prior to an Event of Default (which delivery shall be
free and clear of all liens and security interests hereunder) directly to the
Participants in proportion to their respective rights to payment of BNPLC's
Corresponding Obligations to Participants and for application thereto or the
reduction thereof pursuant to Section 2.6 of the Participation Agreement;
provided, that:

               6.2.1 by a notice in the form of ATTACHMENT 7, NAI must have
        notified Agent, BNPLC and each of the Participants of the required
        withdrawal and payment to Participants at least ten days prior to the
        date upon which it is to occur;

               6.2.2 the required withdrawal shall be made as determined by
        Agent, first, from the Accounts maintained by the Deposit Takers for the
        Participants, and then (to the extent necessary) from the Accounts
        maintained by the Deposit Taker for BNPLC; and

               6.2.3 in any event, no withdrawals or payments directly to
        Participants shall be required by this Section 6.2 (or permitted over
        the objection of BNPLC) in excess of those required to satisfy BNPLC's
        Corresponding Obligations to Participants or to reduce such obligations
        to zero under the Participation Agreement.

                                       16
<PAGE>   21
        Section 6.3 Withdrawal and Application of Cash Collateral to Reduce or
Satisfy the Secured Obligations to BNPLC. To satisfy NAI's Purchase Agreement
Obligations, NAI may require Agent to withdraw any Cash Collateral held by the
Deposit Taker for BNPLC pursuant to this Agreement on the Designated Sale Date
and to deliver the same on the Designated Sale Date or on any date thereafter
prior to an Event of Default (which delivery shall be free and clear of all
liens and security interests hereunder) directly to BNPLC as a payment on behalf
of NAI of amounts due under the Purchase Agreement; provided, that by a notice
in the form of ATTACHMENT 8, NAI must have notified Agent and BNPLC of the
required withdrawal and payment to BNPLC at least ten days prior to the date
upon which it is to occur.

        Section 6.4 Withdrawal of Cash Collateral From Accounts Maintained by
Disqualified Deposit Takers. NAI may from time to time prior to the Designated
Sale Date (regardless of the existence of any Default or Event of Default)
require Agent to withdraw any or all Cash Collateral from any Account maintained
by a Disqualified Deposit Taker and deposit it, still subject to the pledge and
grant of security interest hereunder, with other Deposit Takers who are not
Disqualified Deposit Takers (in accordance with the requirements of Sections 5.3
and 5.4) on any date prior to the Designated Sale Date; provided, that by a
notice in the form of ATTACHMENT 9, NAI must have notified Agent, BNPLC and each
of the Participants of the required withdrawal at least ten days prior to the
date upon which it is to occur.

                ARTICLE VII REPRESENTATIONS AND COVENANTS OF NAI

        Section 7.1 Representations of NAI. NAI represents to BNPLC, Agent and
the Participants as follows:

               7.1.1 NAI is the legal and beneficial owner of the Collateral
        (or, in the case of after-acquired Collateral, at the time NAI acquires
        rights in the Collateral, will be the legal and beneficial owner
        thereof). No other Person has (or, in the case of after-acquired
        Collateral, at the time NAI acquires rights therein, will have) any
        right, title, claim or interest (by way of Lien, purchase option or
        otherwise) in, against or to the Collateral, except for rights created
        hereunder.

               7.1.2 Agent has (or in the case of after-acquired Collateral, at
        the time NAI acquires rights therein, will have) a valid, first
        priority, perfected pledge of and security interest in the Collateral,
        regardless of the characterization of the Collateral as deposit
        accounts, instruments or general intangibles under the UCC, but assuming
        that the representations of each Deposit Taker in its Deposit Taker's
        Acknowledgment and Agreement are true.

               7.1.3 NAI has delivered to Agent, together with all necessary
        stock powers, endorsements, assignments and other necessary instruments
        of transfer, the originals of all documents, instruments and agreements
        evidencing Accounts, Certificates of Deposit or Cash Collateral.

               7.1.4 NAI's chief executive office is located at the address of
        NAI set forth in Article II of the Common Definitions and Provisions
        Agreement (Phase IV - Land) or at

                                       17
<PAGE>   22
        another address in California specified in a notice that NAI has given
        to Agent as required by Section 7.2.4.

               7.1.5 To the knowledge of NAI, neither the ownership or the
        intended use of the Collateral by NAI, nor the pledge of Accounts or the
        grant of the security interest by NAI to Agent herein, nor the exercise
        by Agent of its rights or remedies hereunder, will (i) violate any
        provision of (a) Applicable Law, (b) the articles or certificate of
        incorporation, charter or bylaws of NAI, or (c) any agreement, judgment,
        license, order or permit applicable to or binding upon NAI, or (ii)
        result in or require the creation of any Lien, charge or encumbrance
        upon any assets or properties of NAI except as expressly contemplated in
        this Agreement. Except as expressly contemplated in this Agreement, to
        the knowledge of NAI no consent, approval, authorization or order of,
        and no notice to or filing with any court, governmental authority or
        third party is required in connection with the pledge or grant by NAI of
        the security interest contemplated herein or the exercise by Agent of
        its rights and remedies hereunder.

        Section 7.2 Covenants of NAI. NAI hereby agrees as follows:

               7.2.1 NAI, at NAI's expense, shall promptly procure, execute and
        deliver to Agent all documents, instruments and agreements and perform
        all acts which are necessary, or which Agent may reasonably request, to
        establish, maintain, preserve, protect and perfect the Collateral, the
        pledge thereof to Agent or the security interest granted to Agent
        therein and the first priority of such pledge or security interest or to
        enable Agent to exercise and enforce its rights and remedies hereunder
        with respect to any Collateral. Without limiting the generality of the
        preceding sentence, NAI shall (A) procure, execute and deliver to Agent
        all stock powers, endorsements, assignments, financing statements and
        other instruments of transfer requested by Agent, (B) deliver to Agent
        promptly upon receipt all originals of Collateral consisting of
        instruments, documents and chattel paper, (C) cause the security
        interest of Agent in any Collateral consisting of securities to be
        recorded or registered in the books of any financial intermediary or
        clearing corporation requested by Agent, and (D) reimburse Agent upon
        request for any legal opinion Agent may elect to obtain from a
        nationally recognized commercial law firm authorized to practice in New
        York concerning the enforceability, first priority and perfection of
        Agent's security interest in any Collateral maintained in New York, if
        BNPLC or any Participant should at any time elect to use a Deposit Taker
        that will maintain one or more Accounts in New York.

               7.2.2 NAI shall not use or consent to any use of any Collateral
        in violation of any provision of the this Agreement or any other
        Transaction Document or any Applicable Law.

               7.2.3 NAI shall pay promptly when due all taxes and other
        governmental charges, all Liens and all other charges now or hereafter
        imposed upon, relating to or affecting any Collateral.

                                       18
<PAGE>   23
               7.2.4 Without thirty days' prior written notice to Agent, NAI
        shall not change NAI's name or place of business (or, if NAI has more
        than one place of business, its chief executive office).

               7.2.5 NAI shall appear in and defend, on behalf of Agent, any
        action or proceeding which may affect NAI's title to or Agent's interest
        in the Collateral.

               7.2.6 Subject to the express rights of NAI under Article VI, NAI
        shall not surrender or lose possession of (other than to Agent or a
        Deposit Taker pursuant hereto), sell, encumber, lease, rent, option, or
        otherwise dispose of or transfer any Collateral or right or interest
        therein, and NAI shall keep the Collateral free of all Liens.

               7.2.7 NAI will not take any action which would in any manner
        impair the value or enforceability of Agent's pledge of or security
        interest in any Collateral, nor will NAI fail to take any action which
        is required to prevent (and which NAI knows is required to prevent) an
        impairment of the value or enforceability of Agent's pledge of or
        security interest in any Collateral.

               7.2.8 NAI shall pay (and shall indemnify and hold harmless Agent
        from and against) all Losses incurred by Agent in connection with or
        because of (A) the interest acquired by Agent in any Collateral pursuant
        to this Agreement, or (B) the negotiation or administration of this
        Agreement, whether such Losses are incurred at the time of execution of
        this Agreement or at any time in the future. Costs and expenses included
        in such Losses may include, without limitation, all filing and recording
        fees, taxes, UCC search fees and Attorneys' Fees incurred by Agent with
        respect to the Collateral.

               7.2.9 Without limiting the foregoing, within five Business Days
        after NAI becomes aware of any failure of the pledge or security
        interest contemplated herein in the Transition Account or any Account,
        Certificate of Deposit or Cash Collateral to be a valid, perfected,
        first priority pledge or security interest (regardless of the
        characterization of the Transition Account or any Accounts, Certificates
        of Deposit or Cash Collateral as deposit accounts, instruments or
        general intangibles under the UCC), NAI shall notify Agent, BNPLC and
        the Participants of such failure. In addition, if the failure would not
        exist but for NAI's delivery of Cash Collateral to Agent subject to
        prior Liens or other claims by one or more third parties, or but for the
        grant by NAI itself of any Lien or other interest in the Collateral to
        one or more third parties, then, in addition to any other remedies
        available to BNPLC or Agent under the circumstances, NAI must pay to
        BNPLC any additional Base Rent that has accrued under the Land Lease
        because of (or that would have accrued if BNPLC had been aware of) the
        failure, together with interest at the Default Rate on any such
        additional Base Rent.

                     ARTICLE VIII AUTHORIZED ACTION BY AGENT

        Section 8.1 Power of Attorney. NAI hereby irrevocably appoints Agent as
NAI's attorney-in-fact for the purpose of authorizing Agent to perform (but
Agent shall not be obligated to and shall incur no liability to NAI or any third
party for failure to perform) any act which NAI is obligated by this Agreement
to perform, and to exercise, consistent with the other provisions

                                       19
<PAGE>   24
of this Agreement, such rights and powers as NAI might exercise with respect to
the Collateral during any period in which a Default or Event of Default has
occurred and is continuing, including the right to (a) collect by legal
proceedings or otherwise and endorse, receive and receipt for all dividends,
interest, payments, proceeds and other sums and property now or hereafter
payable on or on account of the Collateral; (b) enter into any extension,
reorganization, deposit, merger, consolidation or other agreement pertaining to,
or deposit, surrender, accept, hold or apply other property in exchange for the
Collateral; (c) insure, process, preserve and enforce the Collateral; (d) make
any compromise or settlement, and take any action it deems advisable, with
respect to the Collateral; (e) pay any indebtedness of NAI relating to the
Collateral; and (f) execute UCC financing statements and other documents,
instruments and agreements required hereunder. NAI agrees that such care as
Agent gives to the safekeeping of its own property of like kind shall constitute
reasonable care of the Collateral when in Agent's possession; provided, however,
that Agent shall not be obligated to NAI to give any notice or take any action
to preserve rights against any other Person in connection with the Secured
Obligations or with respect to the Collateral.

                         ARTICLE IX DEFAULT AND REMEDIES

        Section 9.1 Remedies. In addition to all other rights and remedies
granted to Agent, BNPLC or the Participants by this Agreement, the Land Lease,
the Purchase Agreement, the Participation Agreement, the UCC and other
Applicable Laws, Agent may, upon the occurrence and during the continuance of
any Event of Default, exercise any one or more of the following rights and
remedies, all of which will be in furtherance of its rights as a secured party
under the UCC:

               (a) Agent may collect, receive, appropriate or realize upon the
        Collateral or otherwise foreclose or enforce the pledge of or security
        interests in any or all Collateral in any manner permitted by Applicable
        Law or in this Agreement; and

               (b) Agent may notify any or all Deposit Takers to pay all or any
        portion of the Collateral held by such Deposit Taker(s) directly to
        Agent.

Agent shall distribute the proceeds of all Collateral received by Agent after
the occurrence of an Event of Default to BNPLC and the Participants for
application to the Secured Obligations. If any proceeds of Collateral remain
after all Secured Obligations have been paid in full, Agent will deliver or
direct the Deposit Takers to deliver such proceeds to NAI or other Persons
entitled thereto. In any case where notice of any sale or disposition of any
Collateral is required, NAI hereby agrees that seven (7) Business Days notice of
such sale or disposition is reasonable.

                            ARTICLE X OTHER RECOURSE

        Section 10.1 Recovery Not Limited. To the fullest extent permitted by
applicable law, NAI waives any right to require that Agent, BNPLC or the
Participants proceed against any other Person, exhaust any Collateral or other
security for the Secured Obligations, or to have any Other Liable Party joined
with NAI in any suit arising out of the Secured Obligations or this Agreement,
or pursue any other remedy in their power. NAI waives any and all notice of
acceptance of this Agreement. NAI further waives notice of the creation,
modification,

                                       20
<PAGE>   25
rearrangement, renewal or extension for any period of any of the Secured
Obligations of any Other Liable Party from time to time and any defense arising
by reason of any disability or other defense of any Other Liable Party or by
reason of the cessation from any cause whatsoever of the liability of any Other
Liable Party. Until all of the Secured Obligations shall have been paid in full,
NAI shall have no right to subrogation, reimbursement, contribution or indemnity
against any Other Liable Party and NAI waives the right to enforce any remedy
which Agent, BNPLC or any Participant has or may hereafter have against any
Other Liable Party, and waives any benefit of and any right to participate in
any other security whatsoever now or hereafter held by Agent, BNPLC or any
Participant. NAI authorizes Agent, BNPLC and the Participants, without notice or
demand and without any reservation of rights against NAI and without affecting
NAI's liability hereunder or on the Secured Obligations, from time to time to
(a) take or hold any other property of any type from any other Person as
security for the Secured Obligations, and exchange, enforce, waive and release
any or all of such other property, (b) after any Event of Default, apply or
require the application of the Collateral (in accordance with this Agreement) or
such other property in any order they may determine and to direct the order or
manner of sale thereof as they may determine, (c) renew, extend for any period,
accelerate, modify, compromise, settle or release any of the obligations of any
Other Liable Party with respect to any or all of the Secured Obligations or
other security for the Secured Obligations, and (d) release or substitute any
Other Liable Party.

                     ARTICLE XI PROVISIONS CONCERNING AGENT

        In the event of any conflict between the following and other provisions
in this Agreement, the following will control:

        Section 11.1 Appointment and Authority. BNPLC and each Participant
hereby irrevocably authorizes Agent, and Agent hereby undertakes, to take all
actions and to exercise such powers under this Agreement as are specifically
delegated to Agent by the terms hereof, together with all other powers
reasonably incidental thereto. The relationship of Agent to the Participants is
only that of one commercial bank acting as collateral agent for others, and
nothing herein shall be construed to constitute Agent a trustee or other
fiduciary for any Participant or anyone claiming through or under a Participant
nor to impose on Agent duties and obligations other than those expressly
provided for in this Agreement. With respect to any matters not expressly
provided for in this Agreement and any matters which this Agreement places
within the discretion of Agent, Agent shall not be required to exercise any
discretion or take any action, and it may request instructions from BNPLC and
Participants with respect to any such matter, in which case it shall be required
to act or to refrain from acting (and shall be fully protected and free from
liability to all Participants in so acting or refraining from acting) upon the
instructions of the Majority, as defined in the Participation Agreement,
including itself as a Participant and BNPLC; provided, however, that Agent shall
not be required to take any action which exposes it to a risk of personal
liability that it considers unreasonable or which is contrary to this Agreement
or the other documents referenced herein or to Applicable Law.

        Section 11.2 Exculpation, Agent's Reliance, Etc. Neither Agent nor any
of its directors, officers, agents, attorneys, or employees shall be liable for
any action taken or omitted to be taken by any of them under or in connection
with this Agreement, INCLUDING THEIR NEGLIGENCE OF ANY KIND, EXCEPT THAT EACH
SHALL BE LIABLE FOR ITS OWN GROSS

                                       21
<PAGE>   26
NEGLIGENCE OR WILLFUL MISCONDUCT. Without limiting the generality of the
foregoing, Agent (1) may treat the rights of any Participant under its
Participation Agreement as continuing until Agent receives written notice of the
assignment or transfer of those rights in accordance with such Participation
Agreement, signed by such Participant and in form satisfactory to Agent; (2) may
consult with legal counsel (including counsel for NAI), independent public
accountants and other experts selected by it and shall not be liable for any
action taken or omitted to be taken in good faith by it in accordance with the
advice of such counsel, accountants or experts, unless the action taken or
omitted constitutes misconduct; (3) makes no warranty or representation and
shall not be responsible for any statements, warranties or representations made
in or in connection with this Agreement or the other documents referenced
herein; (4) shall not have any duty to ascertain or to inquire as to the
performance or observance of any of the terms, covenants or conditions of the
Transaction Documents on the part of any party thereto, or to inspect the
property (including the books and records) of any party thereto; (5) shall not
be responsible to any Participant for the due execution, legality, validity,
enforceability, genuineness, sufficiency or value of any Transaction Document or
any instrument or document furnished in connection therewith; (6) may rely upon
the representations and warranties of NAI, Participants and Deposit Takers in
exercising its powers hereunder; and (7) shall incur no liability under or in
respect of the Transaction Documents by acting upon any notice, consent,
certificate or other instrument or writing (including any telecopy, telegram,
cable or telex) believed by it to be genuine and signed or sent by the proper
Person or Persons.

        Section 11.3 Participant's Credit Decisions. Each Participant
acknowledges that it has, independently and without reliance upon Agent or any
other Participant, made its own analysis of NAI and the transactions
contemplated hereby and its own independent decision to enter into the
Transaction Documents to which it is a party. Each Participant also acknowledges
that it will, independently and without reliance upon Agent or any other
Participant and based on such documents and information as it shall deem
appropriate at the time, continue to make its own credit decisions in taking or
not taking action under the Transaction Documents.

        Section 11.4 Indemnity. Each Participant agrees to indemnify Agent (to
the extent not reimbursed by NAI within ten days after demand) from and against
such Participant's Percentage of any and all Losses of any kind or nature
whatsoever which to any extent (in whole or in part) may be imposed on, incurred
by, or asserted against Agent growing out of, resulting from or in any other way
associated with any of the Collateral, the Transaction Documents and the
transactions and events (including the enforcement thereof) at any time
associated therewith or contemplated therein. THE FOREGOING INDEMNIFICATION
SHALL APPLY WHETHER OR NOT SUCH LOSSES ARE IN ANY WAY OR TO ANY EXTENT OWED, IN
WHOLE OR IN PART, UNDER ANY CLAIM OR THEORY OF STRICT LIABILITY, OR ARE CAUSED,
IN WHOLE OR IN PART, BY ANY NEGLIGENT ACT OR OMISSION OF ANY KIND BY AGENT,
PROVIDED ONLY THAT NO PARTICIPANT SHALL BE OBLIGATED UNDER THIS SECTION TO
INDEMNIFY AGENT FOR THAT PORTION, IF ANY, OF ANY LOSS WHICH IS PROXIMATELY
CAUSED BY AGENT'S OWN INDIVIDUAL GROSS NEGLIGENCE OR WILLFUL MISCONDUCT, AS
DETERMINED IN A FINAL JUDGMENT RENDERED AGAINST AGENT. Cumulative of the
foregoing, each Participant agrees to reimburse Agent promptly upon demand for
such Participant's Percentage share of any costs and expenses to be paid to
Agent by NAI hereunder to the extent that Agent is not timely reimbursed by NAI
as provided in

                                       22
<PAGE>   27
subSection 7.2.8. As used in this Section the term "Agent" shall refer not only
to the Person designated as such in the introductory paragraph of this
Agreement, but also to each director, officer, agent, attorney, employee,
representative and Affiliate of such Person.

        Section 11.5 Agent's Rights as Participant and Deposit Taker. In its
capacity as a Participant, BNP Paribas shall have the same rights and
obligations as any Participant and may exercise such rights as though it were
not Agent. In its capacity as a Deposit Taker, BNP Paribas shall have the same
rights and obligations as any Deposit Taker and may exercise such rights as
though it were not Agent. BNP Paribas and any of its Affiliates may accept
deposits from, lend money to, act as Trustee under indentures of, and generally
engage in any kind of business with NAI or its Affiliates, all as if BNP Paribas
were not designated as the Agent hereunder and without any duty to account
therefor to any other Participant.

        Section 11.6 Investments. Whenever Agent in good faith determines that
it is uncertain about how to distribute any funds which it has received
hereunder, or whenever Agent in good faith determines that there is any dispute
among BNPLC and Participants about how such funds should be distributed, Agent
may choose to defer distribution of the funds which are the subject of such
uncertainty or dispute. If Agent in good faith believes that the uncertainty or
dispute will not be promptly resolved, or if Agent is otherwise required to
invest funds pending distribution, Agent shall invest such funds pending
distribution, all interest on any such investment shall be distributed upon the
distribution of such investment and in the same proportion and to the same
Persons as such investment. All moneys received by Agent for distribution to
BNPLC or Participants shall be held by Agent pending such distribution solely as
Agent hereunder, and Agent shall have no equitable title to any portion thereof.

        Section 11.7 Benefit of Article XI. The provisions of this Article
(other than the following Section 11.8) are intended solely for the benefit of
Agent, BNPLC and Participants, and NAI shall not be entitled to rely on any such
provision or assert any such provision in a claim or defense against Agent,
BNPLC or any Participant. Agent, BNPLC and Participants may waive or amend such
provisions as they desire without any notice to or consent of NAI.

        Section 11.8 Resignation. Agent may resign at any time by giving written
notice thereof to BNPLC, Participants and NAI. Upon any such resignation the
Majority (as defined in the Participation Agreement) shall have the right to
appoint a successor Agent, subject to NAI's consent, such consent not to be
unreasonably withheld. A successor must be appointed for any retiring Agent, and
such Agent's resignation shall become effective when such successor accepts such
appointment. If, within thirty days after the date of the retiring Agent's
resignation, no successor Agent has been appointed and has accepted such
appointment, then the retiring Agent may appoint a successor Agent, which shall
be a commercial bank organized or licensed to conduct a banking or trust
business under the laws of the United States of America or of any state thereof.
Upon the acceptance of any appointment as Agent hereunder by a successor Agent,
the retiring Agent shall be discharged from its duties and obligations under
this Agreement. After any retiring Agent's resignation hereunder, the provisions
of this Section 11.8 shall continue to inure to its benefit as to any actions
taken or omitted to be taken by it while it was Agent.

                                       23
<PAGE>   28
                            ARTICLE XII MISCELLANEOUS

        Section 12.1 Provisions Incorporated From Other Operative Documents.
Reference is made to the Common Definitions and Provisions Agreement (Phase IV -
Land), to the Purchase Agreement and to the Participation Agreement for a
statement of the terms thereof. Without limiting the generality of the
foregoing, the provisions of Article II of the Common Definitions and Provisions
Agreement (Phase IV - Land) are incorporated into this Agreement for all
purposes as if set forth in this Article.

        Section 12.2 Cumulative Rights, etc. Except as herein expressly provided
to the contrary, the rights, powers and remedies of Agent, BNPLC and the
Participants under this Agreement shall be in addition to all rights, powers and
remedies given to them by virtue of any Applicable Law, any other Transaction
Document or any other agreement, all of which rights, powers, and remedies shall
be cumulative and may be exercised successively or concurrently without
impairing their respective rights hereunder. NAI waives any right to require
Agent, BNPLC or any Participant to proceed against any Person or to exhaust any
Collateral or to pursue any remedy in Agent's, BNPLC's or such Participant's
power.

        Section 12.3 Survival of Agreements. All representations and warranties
of NAI herein, and all covenants and agreements herein shall survive the
execution and delivery of this Agreement, the execution and delivery of any
other Transaction Documents and the creation of the Secured Obligations and
continue until terminated or released as provided herein.

        Section 12.4 Other Liable Party. Neither this Agreement nor the exercise
by Agent or the failure of Agent to exercise any right, power or remedy
conferred herein or by law shall be construed as relieving any Other Liable
Party from liability on the Secured Obligations or any deficiency thereon. This
Agreement shall continue irrespective of the fact that the liability of any
Other Liable Party may have ceased or irrespective of the validity or
enforceability of any other agreement evidencing or securing the Secured
Obligations to which NAI or any Other Liable Party may be a party, and
notwithstanding the reorganization, death, incapacity or bankruptcy of any Other
Liable Party, or any other event or proceeding affecting any Other Liable Party.

        Section 12.5 Termination. Following the Designated Sale Date, upon
satisfaction in full of all Secured Obligations and upon written request for the
termination hereof delivered by NAI to Agent, (i) this Agreement and the pledge
and security interest created hereby shall terminate and all rights to the
Collateral shall revert to NAI and (ii) Agent will, upon NAI's request and at
NAI's expense execute and deliver to NAI such documents as NAI shall reasonably
request to evidence such termination and release.

        Section 12.6 Amendment and Restatement. This Agreement amends, restates
and replaces the Prior Pledge Agreement referenced in the recitals at the
beginning of this Agreement.

                          [The signature pages follow.]

                                       24
<PAGE>   29
        IN WITNESS WHEREOF, NAI, BNPLC, Agent and the Participants whose
signatures appear below have caused this Pledge Agreement (Phase IV - Land) to
be executed as of October 2, 2000.

                                          "NAI"

                                          NETWORK APPLIANCE, INC.

                                          By:
                                                 -------------------------------
                                          Name:
                                                 -------------------------------
                                          Title:
                                                 -------------------------------

<PAGE>   30
[Continuation of signature pages to Pledge Agreement (Phase IV - Land)
dated to be effective as of October 2, 2000]

                                          "BNPLC"

                                          BNP LEASING CORPORATION

                                          By:
                                                 -------------------------------
                                                 Lloyd G. Cox,
                                                 Senior Vice President

<PAGE>   31
[Continuation of signature pages to Pledge Agreement (Phase IV - Land) dated to
be effective as of October 2, 2000]

                                          "AGENT"

                                          BNP PARIBAS

                                          By:
                                                 -------------------------------
                                          Name:
                                                 -------------------------------
                                          Title:
                                                 -------------------------------

                                          "PARTICIPANT"

                                          BNP PARIBAS

                                          By:
                                                 -------------------------------
                                          Name:
                                                 -------------------------------
                                          Title:
                                                 -------------------------------

<PAGE>   32
                                  ATTACHMENT 1
                               TO PLEDGE AGREEMENT

        The form of Certificate of Deposit used to evidence any Account
maintained with a Deposit Taker that is not an Unaffiliated Deposit Taker will
be as set forth in Annex 1 attached to and made a part of the ATTACHMENT 1. The
form of Certificate of Deposit used to evidence any Account maintained with an
Unaffiliated Deposit Taker will be as set forth in Annex 2 attached to and made
a part of the ATTACHMENT 1.

        As the Annexes attached to this ATTACHMENT indicate, Accounts maintained
with Unaffiliated Deposit Takers (before the Base Rent Commencement Date (All
Buildings) are expected to earn interest, whereas Accounts maintained by Deposit
Takers (after the Base Rent Commencement Date (All Buildings) are expected to be
non-interest bearing. (See subparagraph 3(b) of the Land Lease where the impact
of non-interest bearing Accounts on Base Rent accruing thereunder is explained.)

                               Attachment 1 Page 1
<PAGE>   33
                                     ANNEX 1
                       TO ATTACHMENT 1 TO PLEDGE AGREEMENT

                             CERTIFICATE OF DEPOSIT

                                 (No. _________)

                               [_________, _____]

[NAME OF THE ISSUING
DEPOSIT TAKER AND THE
ADDRESS OF ITS APPLICABLE
ACCOUNT OFFICE]

PAYABLE TO
THE ORDER OF:    BNP Paribas, as Agent under the Pledge Agreement (Phase IV
                 - Land) dated as of October 2, 2000, among Network Appliance,
                 Inc., BNP Leasing Corporation, BNP Paribas and any other
                 financial institutions which are from time to time Participants
                 under such Pledge Agreement (Phase IV - Land) and BNP Paribas,
                 acting in its capacity as agent for BNPLC and the Participants

                                                                         Dollars
--------------------------------------------------------------------------------
in current funds, without interest, seven days after presentment of this
certificate properly endorsed

    The bank issuing this certificate acknowledges and certifies that on the
date indicated above the payee deposited the dollar amount indicated above, and
that such amount shall be payable as provided above.

                                              ----------------------------------
                                              Authorized Signature

                               Attachment 1 Page 2
<PAGE>   34
                                     ANNEX 2
                       TO ATTACHMENT 1 TO PLEDGE AGREEMENT

                             CERTIFICATE OF DEPOSIT

                                 (No. _________)

                               [_________, _____]

[NAME OF THE ISSUING
DEPOSIT TAKER AND THE
ADDRESS OF ITS APPLICABLE
ACCOUNT OFFICE]

PAYABLE TO
THE ORDER OF:    BNP Paribas, as Agent under the Pledge Agreement (Phase IV -
                 Land) dated as of October 2, 2000, among Network Appliance,
                 Inc., BNP Leasing Corporation, BNP Paribas and any other
                 financial institutions which are from time to time Participants
                 under such Pledge Agreement (Phase IV - Land) and BNP Paribas,
                 acting in its capacity as agent for BNPLC and the Participants

                                                                         Dollars
--------------------------------------------------------------------------------
in current funds, with interest as provided below, upon the first business day
that is at least seven days after presentment of this certificate properly
endorsed.

Interest will accrue on the deposit evidenced by this certificate from the date
first written above to the first business day of the first calendar month after
the date first written above at the rate of _____ percent (___%) per annum.

The bank issuing this certificate acknowledges and certifies that on the date
indicated above the payee deposited the dollar amount indicated above, and that
such amount shall be payable as provided above.

                                             -----------------------------------
                                             Authorized Signature

                               Attachment 1 Page 3
<PAGE>   35

                                  ATTACHMENT 2
                               TO PLEDGE AGREEMENT

                         SUPPLEMENT TO PLEDGE AGREEMENT

                               [__________, ____]

BNP Paribas

--------------------

--------------------

--------------------

Network Appliance, Inc.

--------------------

--------------------

--------------------

        1. Reference is made to the Pledge Agreement (Phase IV - Land) (the
"PLEDGE AGREEMENT") dated as of October 2, 2000 among Network Appliance, Inc.
("NAI"), BNP Leasing Corporation ("BNPLC"), BNP Paribas and any other financial
institutions which are from time to time Participants under such Pledge
Agreement (collectively, the "PARTICIPANTS") and BNP Paribas, acting in its
capacity as agent for BNPLC and the Participants (in such capacity, "AGENT").
Unless otherwise defined herein, all capitalized terms used in this Supplement
have the respective meanings given to those terms in the Pledge Agreement.

        2. The undersigned hereby certifies to Agent and NAI that the
undersigned has become a party to the Participation Agreement by executing a
supplement as provided therein and that its Percentage thereunder is ______%.

        3. The undersigned, by executing and delivering this Supplement to NAI
and Agent, hereby agrees to become a party to the Pledge Agreement and agrees to
be bound by all of the terms thereof applicable to Participants. The Deposit
Taker for the undersigned shall be _________________, until such time as another
Deposit Taker for the undersigned shall be designated in accordance with
Sections 4.4 or 4.5 of the Pledge Agreement. The undersigned certifies to Agent
and NAI that such Deposit Taker is an Initially Qualified Deposit Taker and
satisfies the requirements for a Deposit Taker set forth in Section 4.1 of the
Pledge Agreement.

        IN WITNESS WHEREOF, the undersigned has executed this Supplement as of
the day and year indicated above.

                                         [                                     ]
                                         ---------------------------------------

                                         By:
                                             -----------------------------------
                                             Name:
                                                    ----------------------------
                                             Title:
                                                    ----------------------------

                                  Attachment 2
<PAGE>   36

                                  ATTACHMENT 3
                               TO PLEDGE AGREEMENT

                           NOTICE OF SECURITY INTEREST

                                [_________, 20__]

[Name of Deposit Taker]
[Address of Deposit Taker]

        1. Reference is made to the Pledge Agreement (Phase IV - Land) (the
"PLEDGE AGREEMENT") dated as of October 2, 2000 among Network Appliance, Inc.
("NAI"), BNP Leasing Corporation ("BNPLC"), BNP Paribas and any other financial
institutions which are from time to time Participants under such Pledge
Agreement (collectively, the "PARTICIPANTS") and BNP Paribas, acting in its
capacity as agent for BNPLC and the Participants (in such capacity, "AGENT").
Unless otherwise defined herein, all capitalized terms used in this Notice have
the respective meanings given to those terms in the Pledge Agreement.

        2. NAI has informed Agent that NAI has established with the addressee of
this Notice ("DEPOSIT TAKER") the following non-interest bearing Account in the
name of Agent to be maintained at the following Account Office:

<TABLE>
<CAPTION>
          Account                    Account                 Account
           Type                      Office                  Number
      ------------                 ------------            ------------
<S>                                <C>                     <C>
      Time Deposit
                                   ------------            ------------

                                   ------------            ------------
</TABLE>

NAI has further informed Agent that NAI intends to maintain Cash Collateral in
such Account, and that to evidence such Account and the amount of Cash
Collateral held therein from time to time, NAI has authorized Deposit Taker to
issue Certificates of Deposit payable to the order of Agent as provided in the
Pledge Agreement.

        3. NAI and Agent hereby notify Deposit Taker that, pursuant to the
Pledge Agreement, NAI has granted to Agent, for the ratable benefit of BNPLC and
the Participants as security for the Secured Obligations, a pledge of and
security interest in all Accounts and other Collateral maintained by NAI with
Deposit Taker, including the Account described in Section 2 above.

        4. In furtherance of such grant, NAI and Agent hereby authorize and
direct Deposit Taker to:

                (a) hold all Collateral for Agent and as Agent's bailee,
        separate and apart from all other property and funds of NAI and all
        other Persons and to permit no other funds to be deposited or credited
        to the Account described above;

                               Attachment 3 Page 1
<PAGE>   37
                (b) make a notation in its books and records of the interest of
        Agent in the Collateral and that the Account described above and all
        deposits therein or sums credited thereto are subject to a pledge and
        security interest in favor of Agent;

                (c) issue and redeem Certificates of Deposit evidencing such
        Account, as directed by Agent pursuant to the Pledge Agreement,
        including Sections 5.4 and 5.5 of the Pledge Agreement which provide as
        follows:

                      Section 5.4 Issuance and Redemption of Certificates of
               Deposit. Upon the receipt of any deposit of Cash Collateral from
               Agent, each Deposit Taker shall issue or cause to be issued a
               Certificate of Deposit evidencing the Account into which such
               deposit is made and deliver such Certificate of Deposit to (or
               upon the written direction of) Agent for the benefit of BNPLC and
               the Participants. Each Certificate of Deposit shall be issued in
               an amount equal to the Value of the Account which it evidences
               and shall otherwise be in the form set forth as [Annex 1 to this
               Notice of Security Interest]. When Cash Collateral is deposited
               into an Account that is already evidenced by an outstanding
               Certificate of Deposit held by Agent, and when any Unaffiliated
               Deposit Taker is expected to add interest to the principal
               balance of an Account that is already evidenced by an outstanding
               Certificate of Deposit held by Agent, Agent will surrender the
               outstanding Certificate of Deposit to the Deposit Taker that
               issued it and will direct in writing that Deposit Taker to issue
               or cause the issue of a new Certificate of Deposit in exchange,
               evidencing the total amount of Cash Collateral then in the
               Account after the deposit or the addition of the interest. A
               Deposit Taker that has issued or caused to be issued a
               Certificate of Deposit may require the surrender of the
               Certificate of Deposit as a condition to a withdrawal from the
               Account evidenced thereby, including any withdrawal required or
               permitted by this Agreement. Upon surrender of a Certificate of
               Deposit in connection with a withdrawal of less than all of the
               Cash Collateral in the Account evidenced thereby, the applicable
               Deposit Taker will concurrently issue or cause to be issued as
               directed in writing by the Agent a new Certificate of Deposit to
               Agent, evidencing the balance of the Cash Collateral remaining on
               deposit in the Account after the withdrawal. Notwithstanding the
               foregoing, if any Certificate of Deposit held by Agent shall be
               destroyed, lost or stolen, the Deposit Taker that issued the
               Certificate, upon the written request of Agent, shall issue or
               cause to be issued a new Certificate of Deposit to Agent in lieu
               of and in substitution for the Certificate of Deposit so
               destroyed, lost or stolen. However, as applicant for the
               substitute Certificate of Deposit, Agent must indemnify (at no
               cost to NAI) the applicable Deposit Taker against any liability
               on the Certificate of Deposit destroyed, lost or stolen, and
               Agent shall furnish to the Deposit Taker an affidavit of an
               officer of Agent setting forth the fact of destruction, loss or
               theft and confirming the status of Agent as holder of the
               Certificate of Deposit immediately prior to the destruction, loss
               or theft. If any Certificate of Deposit held by Agent shall
               become mutilated, the Deposit Taker that issued or caused to be
               issued the Certificate, upon the written request of Agent, shall
               issue or cause to be issued a new Certificate of Deposit to Agent
               in exchange and substitution for the mutilated Certificate of
               Deposit. Agent shall hold all Certificates of Deposit for the
               benefit of BNPLC and the Participants, subject to the pledge and
               security interest created hereby.

                      Section 5.5 Status of the Accounts Under the Reserve
               Requirement Regulations. Deposit Takers shall be permitted to
               structure the Accounts as nonpersonal time deposits under 12
               C.F.R., Part II, Chapter 204 (commonly known as "Regulation D").
               Accordingly, each Deposit Taker may require at least seven days
               advance notice of any withdrawal or transfer of funds from
               Accounts it maintains and may limit the number of withdrawals or
               transfers from such Accounts to no more than six in any calendar
               month, notwithstanding anything to the contrary herein or in any
               deposit agreement that NAI and any Deposit Taker may enter into
               with respect to any Account....;

                               Attachment 3 Page 2
<PAGE>   38
               (d) take such other steps as Agent may reasonably request to
        record, maintain, validate and perfect its pledge of and security
        interest in the Collateral; and

               (e) upon receipt of notice from Agent that an Event of Default
        has occurred, transfer and deliver to Agent or its nominee, together
        with all necessary endorsements, all or such portion of the Collateral
        held by Deposit Taker as Agent shall direct; provided, however, that in
        connection therewith Deposit Taker may require compliance by Agent with
        the provisions in Sections 5.4 and 5.5 of the Pledge Agreement for
        redemption of any outstanding Certificate of Deposit which evidences the
        Account.

        5. NAI and Agent agree that (a) the possession by Deposit Taker of all
money, instruments, chattel paper and other property constituting Collateral
shall be deemed to be possession by Agent or a person designated by Agent, for
purposes of perfecting the security interest granted to Agent under the Pledge
Agreement pursuant to Section 9305, 8313 or 8213 of the UCC (as the case may
be), and (b) notifications by Deposit Taker to other Persons holding any such
property, and acknowledgments, receipts or confirmations from such Persons
delivered to Deposit Taker, shall be deemed notifications to, or
acknowledgments, receipts or confirmations from, financial intermediaries,
bailees or agents (as applicable) of Deposit Taker for the benefit of Agent for
the purposes of perfecting such security interests under applicable law.

        6. As contemplated by the Pledge Agreement, please acknowledge Deposit
Taker's receipt of, and consent to, this notice and confirm the representations
and agreements set forth in the Acknowledgment and Agreement attached hereto by
executing the same and returning this letter to Agent. For your files, a copy of
this letter is enclosed which you may retain. The authorizations and directions
set forth herein may not be revoked or modified without the written consent of
Agent.

                                          "AGENT"

                                          BNP Paribas

                                          By:
                                                 -------------------------------
                                          Name:
                                                 -------------------------------
                                          Title:
                                                 -------------------------------

                                          "NAI"

                                          Network Appliance, Inc.

                                          By:
                                                 -------------------------------
                                          Name:
                                                 -------------------------------
                                          Title:
                                                 -------------------------------

                               Attachment 3 Page 3
<PAGE>   39
                          ACKNOWLEDGMENT AND AGREEMENT
                                OF DEPOSIT TAKER

        Deposit Taker hereby acknowledges receipt of, and consents to, the above
notice, acknowledges that it will hold the Collateral for Agent and as Agent's
bailee, agrees to comply with the authorizations and directions set forth above
and represents to and agrees with NAI and Agent as follows:

                (a) Deposit Taker is a commercial bank, organized under the laws
        of the United States of America or a state thereof or under the laws of
        another country which is doing business in the United States of America.
        Deposit Taker is authorized to maintain deposit accounts for others
        through the Account Office specified in the above notice, and Deposit
        Taker will not move the accounts described in the above notice to other
        offices without the prior written authorization of Agent and NAI.

                (b) Deposit Taker has a combined capital, surplus and undivided
        profits of at least $500,000,000.

                (c) The information set forth above regarding the Account
        established by NAI with Deposit Taker is accurate. Such Account is
        currently open and Deposit Taker has no prior notice of any other
        pledge, security interest, Lien, adverse claim or interest in such
        Account.

                (d) Deposit Taker shall promptly notify NAI and Agent if the
        representations made by Deposit Taker above cease to be true and
        correct.

                (e) Deposit Taker shall not (i) allow the withdrawal of funds
        from such Account by any Person other than Agent, or (ii) WITHOUT IN
        EACH CASE FIRST OBTAINING THE PRIOR WRITTEN AUTHORIZATION OF AGENT,
        setoff or attempt to setoff any amount (including Secured Obligations
        owed to Deposit Taker, if any) against any Collateral held from time to
        time by Deposit Taker.

                                          [                                    ]
                                          --------------------------------------

                                          By:
                                              ----------------------------------
                                              Name:
                                                     ---------------------------
                                              Title:
                                                     ---------------------------

                                          [Date]

                               Attachment 3 Page 4
<PAGE>   40
                                     ANNEX 1
                         TO NOTICE OF SECURITY INTEREST

                             CERTIFICATE OF DEPOSIT

                                 (No. _________)

                                [_________, 20__]

[NAME OF THE ISSUING
DEPOSIT TAKER AND THE
ADDRESS OF ITS APPLICABLE
ACCOUNT OFFICE]

PAYABLE TO
THE ORDER OF: BNP PARIBAS, as Agent under the Pledge Agreement (Phase IV - Land)
              dated as of October 2, 2000, among Network Appliance, Inc., BNP
              Leasing Corporation, BNP Paribas and any other financial
              institutions which are from time to time Participants under such
              Pledge Agreement (Phase IV - Land), and BNP Paribas, acting in its
              capacity as agent for BNPLC and the Participants

                                                                         Dollars
--------------------------------------------------------------------------------
in current funds, without interest, seven days after presentment of this
certificate properly endorsed

    The bank issuing this certificate acknowledges and certifies that on the
date indicated above the payee deposited the dollar amount indicated above, and
that such amount shall be payable as provided above.

                                          --------------------------------------
                                          Authorized Signature

                               Attachment 3 Page 5
<PAGE>   41
                                  ATTACHMENT 4
                               TO PLEDGE AGREEMENT

                           NOTICE OF SECURITY INTEREST

                                [_________, 20__]

[Name of Deposit Taker]
[Address of Deposit Taker]

        1. Reference is made to the Pledge Agreement (Phase IV - Land) (the
"PLEDGE AGREEMENT") dated as of October 2, 2000 among Network Appliance, Inc.
("NAI"), BNP Leasing Corporation ("BNPLC"), BNP Paribas and any other financial
institutions which are from time to time Participants under such Pledge
Agreement (collectively, the "PARTICIPANTS") and BNP Paribas, acting in its
capacity as agent for BNPLC and the Participants (in such capacity, "AGENT").
Unless otherwise defined herein, all capitalized terms used in this Notice have
the respective meanings given to those terms in the Pledge Agreement.

        2. NAI has informed Agent that NAI has established with the addressee of
this Notice ("DEPOSIT TAKER") the following Account in the name of Agent to be
maintained at the following Account Office:

<TABLE>
<CAPTION>
          Account                    Account                 Account
           Type                      Office                  Number
      ------------                 ------------            ------------
<S>                                <C>                     <C>
      Time Deposit                  New York
                                                           ------------

                                   ------------            ------------
</TABLE>

NAI has further informed Agent that NAI intends to maintain Cash Collateral in
such Account, and that to evidence such Account and the amount of Cash
Collateral held therein from time to time, NAI has authorized Deposit Taker to
issue Certificates of Deposit payable to the order of Agent as provided in the
Pledge Agreement.

        3. NAI and Agent hereby notify Deposit Taker that, pursuant to the
Pledge Agreement, NAI has granted to Agent, for the ratable benefit of BNPLC and
the Participants as security for the Secured Obligations, a pledge of and
security interest in all Accounts and other Collateral maintained by NAI with
Deposit Taker, including the Account described in Section 2 above.

        4. In furtherance of such grant, NAI and Agent hereby authorize and
direct Deposit Taker to:

               (a) hold all Collateral for Agent and as Agent's bailee, separate
        and apart from all other property and funds of NAI and all other Persons
        and to permit no other funds to be deposited or credited to the Account
        described above;

                               Attachment 4 Page 1

<PAGE>   42
               (b) make a notation in its books and records of the interest of
        Agent in the Collateral and that the Account described above and all
        deposits therein or sums credited thereto are subject to a pledge and
        security interest in favor of Agent;

               (c) cause Certificates of Deposit evidencing such Account to be
        issued and redeemed, as directed by Agent in writing pursuant to this
        Notice and in accordance with Sections 5.4 and 5.5 of the Pledge
        Agreement, which provide as follows:

                      Section 5.4 Issuance and Redemption of Certificates of
               Deposit. Upon the receipt of any deposit of Cash Collateral from
               Agent, each Deposit Taker shall issue or cause to be issued a
               Certificate of Deposit evidencing the Account into which such
               deposit is made and deliver such Certificate of Deposit to (or
               upon the written direction of) Agent for the benefit of BNPLC and
               the Participants. Each Certificate of Deposit shall be issued in
               an amount equal to the Value of the Account which it evidences
               and shall otherwise be in the form set forth as [Annex 1 to this
               Notice of Security Interest]. When Cash Collateral is deposited
               into an Account that is already evidenced by an outstanding
               Certificate of Deposit held by Agent, and when any Unaffiliated
               Deposit Taker is expected to add interest to the principal
               balance of an Account that is already evidenced by an outstanding
               Certificate of Deposit held by Agent, Agent will surrender the
               outstanding Certificate of Deposit to the Deposit Taker that
               issued it and will direct in writing that Deposit Taker to issue
               or cause the issue of a new Certificate of Deposit in exchange,
               evidencing the total amount of Cash Collateral then in the
               Account after the deposit or the addition of the interest. A
               Deposit Taker that has issued or caused to be issued a
               Certificate of Deposit may require the surrender of the
               Certificate of Deposit as a condition to a withdrawal from the
               Account evidenced thereby, including any withdrawal required or
               permitted by this Agreement. Upon surrender of a Certificate of
               Deposit in connection with a withdrawal of less than all of the
               Cash Collateral in the Account evidenced thereby, the applicable
               Deposit Taker will concurrently issue or cause to be issued as
               directed in writing by the Agent a new Certificate of Deposit to
               Agent, evidencing the balance of the Cash Collateral remaining on
               deposit in the Account after the withdrawal. Notwithstanding the
               foregoing, if any Certificate of Deposit held by Agent shall be
               destroyed, lost or stolen, the Deposit Taker that issued the
               Certificate, upon the written request of Agent, shall issue or
               cause to be issued a new Certificate of Deposit to Agent in lieu
               of and in substitution for the Certificate of Deposit so
               destroyed, lost or stolen. However, as applicant for the
               substitute Certificate of Deposit, Agent must indemnify (at no
               cost to NAI) the applicable Deposit Taker against any liability
               on the Certificate of Deposit destroyed, lost or stolen, and
               Agent shall furnish to the Deposit Taker an affidavit of an
               officer of Agent setting forth the fact of destruction, loss or
               theft and confirming the status of Agent as holder of the
               Certificate of Deposit immediately prior to the destruction, loss
               or theft. If any Certificate of Deposit held by Agent shall
               become mutilated, the Deposit Taker that issued or caused to be
               issued the Certificate, upon the written request of Agent, shall
               issue or cause to be issued a new Certificate of Deposit to Agent
               in exchange and substitution for the mutilated Certificate of
               Deposit. Agent shall hold all Certificates of Deposit for the
               benefit of BNPLC and the Participants, subject to the pledge and
               security interest created hereby.

                      Section 5.5 Status of the Accounts Under the Reserve
               Requirement Regulations. Deposit Takers shall be permitted to
               structure the Accounts as nonpersonal time deposits under 12
               C.F.R., Part II, Chapter 204 (commonly known as "Regulation D").
               Accordingly, each Deposit Taker may require at least seven days
               advance notice of any withdrawal or transfer of funds from
               Accounts it maintains and may limit the number of withdrawals or
               transfers from such Accounts to no more than six in any calendar
               month, notwithstanding anything to the contrary herein or in any
               deposit agreement that NAI and any Deposit Taker may enter into
               with respect to any Account....;

                               Attachment 4 Page 2

<PAGE>   43
               (d) take such other steps, at the cost and expense of the Agent
        or NAI, as Agent may reasonably request to maintain, validate and
        perfect its pledge of and security interest in the Collateral; and

               (e) upon receipt of written notice from Agent that an Event of
        Default has occurred, transfer and deliver to Agent or its nominee,
        together with all necessary endorsements, all or such portion of the
        Collateral held by Deposit Taker as Agent shall direct; provided,
        however, that in connection therewith Agent shall comply with the
        provisions in Sections 5.4 and 5.5 of the Pledge Agreement for
        redemption of any outstanding Certificate of Deposit which evidences the
        Account.

        5. NAI and Agent agree that (a) the possession by Deposit Taker of all
money, instruments, chattel paper and other property constituting Collateral
shall be deemed to be possession by Agent or a person designated by Agent, for
purposes of perfecting the security interest granted to Agent under the Pledge
Agreement pursuant to Section 9305, 8313 or 8213 of the UCC (as the case may
be), and (b) notifications by Deposit Taker to other Persons holding any such
property, and acknowledgments, receipts or confirmations from such Persons
delivered to Deposit Taker, shall be deemed notifications to, or
acknowledgments, receipts or confirmations from, financial intermediaries,
bailees or agents (as applicable) of Deposit Taker for the benefit of Agent for
the purposes of perfecting such security interests under applicable law.

        6. Concerning the Deposit Taker, Agent and NAI agree as follows:

               (a) Compensation

                      (i) Contemporaneously with the time of execution of this
               Notice, NAI or Agent is executing a separate fee schedule or
               agreement submitted by Deposit Taker, describing the fees NAI or
               Agent, as applicable, will pay to Deposit Taker for maintaining
               the Account as described herein.

                      (ii) Agent and NAI, jointly and severally, shall be liable
               for and shall reimburse and indemnify Deposit Taker and hold
               Deposit Taker harmless from and against any and all claims,
               losses, liabilities, costs, damages or expenses (including
               reasonable attorneys' fees and expenses) (collectively, "Losses)
               arising from or in connection with or related to this Notice or
               being Deposit Taker hereunder (including but not limited to
               Losses incurred by Deposit Taker in connection with its
               successful defense, in whole or in part, of any claim of gross
               negligence or willful misconduct on its part), provided, however,
               that nothing contained herein shall require Deposit Taker to be
               indemnified for Losses caused by its gross negligence or willful
               misconduct.

               (b) Certain Rights of the Deposit Taker

                      (i) The duties, responsibilities and obligations of
               Deposit Taker shall be limited to those expressly set forth
               herein and no duties, responsibilities or obligations shall be
               inferred or implied. Deposit Taker shall not be subject to, nor
               required to comply with, any other agreement between or among any
               or all of the

                              Attachment 4 Page 3
<PAGE>   44
               other parties hereto or to which any such party is a party, even
               though reference thereto may be made herein, or to comply with
               any direction or instruction (other than those contained herein
               or delivered in accordance with this Notice) from any party any
               entity acting on its behalf. Deposit Taker shall not be required
               to, and shall not, expend or risk any of its own funds or
               otherwise incur any financial liability in the performance of any
               of its duties hereunder.

                      (ii) If at any time Deposit Taker is served with any
               judicial or administrative order, judgment, decree, writ or other
               form of judicial or administrative process which in any way
               affects the Account (including but not limited to orders of
               attachment or garnishment or other forms of levies or injunctions
               or stays relating to the transfer of Account), Deposit Taker is
               authorized to comply therewith as it or its legal counsel of its
               own choosing deems necessary; and if Deposit Taker complies with
               any such judicial or administrative order, judgment, decree, writ
               or other form of judicial or administrative process, Deposit
               Taker shall not be liable to any of the parties hereto or to any
               other person or entity even though such order, judgment, decree,
               writ or process may be subsequently modified or vacated or
               otherwise determined to have been without legal force or effect.

                      (iii) Deposit Taker shall not be liable for any action
               taken or omitted or for any loss or injury resulting from its
               actions or its performance or lack of performance of its duties
               hereunder in the absence of gross negligence or willful
               misconduct on its part. In no event shall Deposit Taker be liable
               (x) for acting in accordance with or relying upon any
               instruction, notice, demand, certificate or document from Agent
               or any officer of Agent acting or purporting to act on behalf of
               Agent, (y) for any consequential, punitive or special damages,
               (z) for the acts or omissions of its nominees, correspondents,
               designees, subagents or subcustodians.

                      (iv) Deposit Taker may consult with legal counsel as to
               any matter relating to this Notice, and Deposit Taker shall not
               incur any liability in acting in good faith in accordance with
               any advice from such counsel. All reasonable fees charged by such
               counsel in connection with any such consultation shall be subject
               to reimbursement by Agent and NAI pursuant to subparagraph
               6(a)(ii) above.

                      (v) Deposit Taker shall not incur any liability for not
               performing any act or fulfilling any duty, obligation or
               responsibility hereunder by reason of any occurrence beyond the
               control of Deposit Taker (including but not limited to any act or
               provision of any present or future law or regulation or
               governmental authority, any act of God or war, or the
               unavailability of the Federal Reserve Bank wire or telex or other
               wire or communication facility).

                      (vi) Deposit Taker shall not be responsible in any respect
               for the form, execution, validity, value or genuineness of
               documents or securities deposited hereunder, or for any
               description therein, or for the identity, authority or rights of
               persons executing or delivering or purporting to execute or
               deliver any such document, security or endorsement.

                               Attachment 4 Page 4
<PAGE>   45

                      (vii) In the event of any ambiguity or uncertainty
               hereunder or in any notice, instruction or other communication
               received by Deposit Taker hereunder, Deposit Taker may, in its
               sole discretion, refrain from taking any action other than retain
               possession of the Account, unless Deposit Taker receives written
               instructions, signed by Agent, which eliminates such ambiguity or
               uncertainty.

               (c) Notices and Payment Instructions.

                      (i) Notices, instructions or other communications shall be
               in writing and shall be sent to the addresses set forth below by
               any of the following means: (A) personal service, with proof of
               delivery retained; (B) telecopy (if confirmed in writing sent by
               United States first class mail, return receipt requested); or (C)
               registered or certified first class mail, return receipt
               requested. Any party may change its address set forth below by
               notice given to the other parties in the manner described in this
               subparagraph.

                            Address of Agent:

                            BNP Paribas, San Francisco
                            180 Montgomery Street
                            San Francisco, California 94104
                            Attention: Gavin Holles
                            Telecopy: (415) 296-8954

                            And for any type of funding notices, with a copy to:

                            BNP Paribas, San Francisco
                            180 Montgomery Street
                            San Francisco, California 94104
                            Attention: Paggie Wong/Tom Kunz
                            Telecopy: (415) 956-4230

                            Address of NAI:

                            Network Appliance, Inc.
                            Attn: Leslie Paulides
                            2770 San Thomas Expressway
                            Santa Clara, CA 95051
                            Telecopy: (408) 367-3452

                            Address of Deposit Taker

                            The Bank of New York
                            Insurance Trust & Escrow - 21W
                            Attention: Sharon Young
                            101 Barclay Street
                            New York, New York 10286
                            Telecopy : (212) 815-7181

                               Attachment 4 Page 5
<PAGE>   46
                      (ii) Notices to Deposit Taker shall be deemed to be given
               when actually received by Deposit Taker's Corporate Trust
               Department. Deposit Taker is authorized to comply with and rely
               upon any notices, instructions or other communications believed
               by it to have been sent or given by the Agent or by a person or
               persons authorized by the Agent. Whenever under the terms hereof
               the time for giving a notice or performing an act falls upon a
               Saturday, Sunday, or banking holiday, such time shall be extended
               to the next day on which Deposit Taker is open for business.

                      (iii) All funds to be deposited into the Account shall be
               paid in immediately available funds by wire transfer to:

                             -----------------------------------

                             -----------------------------------

                             -----------------------------------

                             -----------------------------------

        or in such other manner as Deposit Taker may designate in a
        notice to Agent and NAI.

                      (iv) All funds to paid from the Account by Deposit Taker
               to Agent shall be paid in immediately available funds by wire
               transfer to:

                              Federal Reserve Bank of New York
                              ABA  026007689 BNP Paribas
                              /BNP/ BNP San Francisco
                              /AC/ 14334000176
                              /Ref/ NAI Collateral Withdrawal

               (d)    Resignation and Removal

                      (i) Agent may remove Deposit Taker at any time by giving
               to NAI and to Deposit Taker thirty (30) calendar days' prior
               notice in writing signed by Agent. Deposit Taker may resign at
               any time by giving to Agent and NAI fifteen (15) calendar days'
               prior written notice thereof.

                      (ii) Upon the effective date of any removal or resignation
               of Deposit Taker, Agent must surrender any outstanding
               Certificate of Deposit that evidences the Account to Deposit
               Taker, whereupon Deposit Taker shall deliver the funds then held
               by it in the Account to Agent in accordance with payment
               instructions herein. Although Agent may be required by the Pledge
               Agreement to promptly distribute such funds to one or more
               successor Deposit Takers, Deposit Taker shall have no liability
               or responsibility whatsoever for the proper distribution of
               application by Agent of any such funds paid to Agent by Deposit
               Taker or for the designation or appointment of any successor
               Deposit Takers.

                      (iii) Upon delivery of the funds deposited in the Account
               to Agent as provided in the preceding subparagraph, Deposit Taker
               shall have no further duties, responsibilities or obligations
               hereunder.

                              Attachment 4 Page 6
<PAGE>   47

        7. NAI and Agent further agree with Deposit Taker as follows:

               (a) Governing Law. This Notice shall be interpreted, construed,
        enforced and administered in accordance with the internal substantive
        laws (and not the choice of law rules) of the State of New York. Each of
        the parties hereto (i.e., Agent, NAI and Deposit Taker) hereby submits
        to the personal jurisdiction of and each agrees that all proceedings
        relating hereto shall be brought in courts located within the City and
        State of New York or elsewhere in the United States as Deposit Taker may
        select. Each of the parties hereto also hereby waives the right to trial
        by jury and to assert counterclaims in any such proceedings. To the
        extent that in any jurisdiction any party hereto may be entitled to
        claim, for itself or its assets, immunity from suit, execution,
        attachment (whether before or after judgment) or other legal process,
        each hereby irrevocably agrees not to claim, and hereby waives, such
        immunity. Each party hereto also waives personal service of process and
        consents to service of process by certified or registered mail, return
        receipt requested, directed to it at the address last specified for
        notices hereunder, and such service shall be deemed completed ten (10)
        calendar days after the same is so mailed.

               (b) Amendment. Except as otherwise permitted herein, this Notice
        may be modified only by a written amendment signed by all the parties
        hereto, and no waiver of any provision hereof shall be effective unless
        expressed in a writing signed by the party to be charged.

               (c) Waiver. The rights and remedies conferred by this Notice upon
        the parties hereto shall be cumulative, and the exercise or waiver of
        any such right or remedy shall not preclude or inhibit the exercise of
        any additional rights or remedies. The waiver of any right or remedy
        hereunder shall not preclude the subsequent exercise of such right or
        remedy.

               (d) Representations and Warranties. Each party hereto hereby
        represents and warrants (a) that this Notice been duly authorized,
        executed and delivered on its behalf and constitutes its legal, valid
        and binding obligation and (b) that the execution, delivery and
        performance of the terms of this Notice by such party do not and will
        not violate any applicable law or regulation.

               (e) Unenforceability. The invalidity, illegality or
        unenforceability of any provision of this Notice shall in no way affect
        the validity, legality or enforceability of any other provision; and if
        any provision is held to be enforceable as a matter of law, the other
        provisions shall not be affected thereby and shall remain in full force
        and effect.

               (f) Entire Agreement. As between NAI and Agent, on the one hand,
        and Deposit Taker, on the other, this Notice (including the
        Acknowledgment and Agreement of Deposit Taker attached hereto and made a
        part hereof) shall constitute the entire agreement of the parties with
        respect to the subject matter hereof and supersedes all prior oral or
        written agreements in regard thereto. As between NAI and Agent, however,
        nothing contained in this Notice will be construed to impair the rights
        of Agent under the Pledge Agreement.

                              Attachment 4 Page 7
<PAGE>   48
               (g) Termination. This Notice shall terminate upon the
        distribution of all property from the Account as provided herein.

               (h) Counterparts. This Notice may be executed by each of the
        parties hereto in any number of counterparts, each of which counterpart,
        when so executed and delivered, shall be deemed to be an original and
        all such counterparts shall together constitute one and the same
        agreement.

               (i) Taxes. The Deposit Taker does not have any interest in the
        property deposited in the Account hereunder but is serving as the bailee
        of Agent only and having only possession thereof. Pursuant to
        subparagraph 6(a)(ii) above, Deposit Taker shall be entitled to be
        reimbursed and indemnified upon request for any transfer taxes or other
        taxes relating to the Accounts incurred in connection herewith. Any
        payments of income from the Account shall be subject to withholding
        regulations then in force with respect to United States taxes. The other
        parties hereto will provide the Deposit Taker with appropriate W-9 forms
        for tax I.D., number certifications, or W-8 forms for non-resident alien
        certifications. It is understood that the Deposit Taker shall be
        responsible for income reporting only with respect to income earned on
        the Account and is not responsible for any other reporting.

               (j) Survival. The provisions of paragraphs 6(a) and 7(i) shall
        survive the termination of this Notice or the resignation or removal of
        the Deposit Taker.

                              Attachment 4 Page 8
<PAGE>   49
               8. As contemplated by the Pledge Agreement, please acknowledge
        Deposit Taker's receipt of, and consent to, this notice and confirm the
        representations and agreements set forth in the Acknowledgment and
        Agreement attached hereto by executing the same and returning this
        letter to Agent. For your files, a copy of this letter is enclosed which
        you may retain. The authorizations and directions set forth herein may
        not be revoked or modified without the written consent of Agent.

                                          "AGENT"

                                          BNP Paribas

                                          By:
                                                 -------------------------------
                                          Name:
                                                 -------------------------------
                                          Title:
                                                 -------------------------------

                                          "NAI"

                                          Network Appliance, Inc.

                                          By:
                                                 -------------------------------
                                          Name:
                                                 -------------------------------
                                          Title:
                                                 -------------------------------

                              Attachment 4 Page 9
<PAGE>   50
                          ACKNOWLEDGMENT AND AGREEMENT
                                OF DEPOSIT TAKER

        Deposit Taker hereby acknowledges receipt of, and consents to, the above
notice, acknowledges that it will hold the Collateral for Agent and as Agent's
bailee, agrees to comply with the authorizations and directions set forth above
and represents to and agrees with NAI and Agent as follows:

        (a) Deposit Taker is a commercial bank, organized under the laws of the
United States of America or a state thereof or under the laws of another country
which is doing business in the United States of America. Deposit Taker is
authorized to maintain deposit accounts for others through the Account Office
specified in the above notice, and Deposit Taker will not move the accounts
described in the above notice to other offices without the prior written
authorization of Agent and NAI.

        (b) Deposit Taker has a combined capital, surplus and undivided profits
of at least $500,000,000.

        (c) The information set forth above regarding the Account established by
NAI with Deposit Taker is accurate. Such Account is currently open and Deposit
Taker has no prior notice of any other pledge, security interest, Lien, adverse
claim or interest in such Account.

        (d) Deposit Taker shall promptly notify NAI and Agent if the
representations made by Deposit Taker above cease to be true and correct.

        (e) Deposit Taker shall not (i) allow the withdrawal of funds from such
Account by any Person other than Agent, or (ii) WITHOUT IN EACH CASE FIRST
OBTAINING THE PRIOR WRITTEN AUTHORIZATION OF AGENT, setoff or attempt to setoff
any amount (including Secured Obligations owed to Deposit Taker, if any) against
any Collateral held from time to time by Deposit Taker.

        Deposit Taker further agrees that the Account described in the foregoing
Notice of Security Agreement will bear interest at the rate or rates specified
by Deposit Taker in the Certificates of Deposit it from time to time issues or
cause to be issued to evidence such Account. The rate or rates specified by
Deposit Taker in the Certificates of Deposit issued by it will be established as
follows:

[DESCRIBE HOW RATES FOR CD'S WILL BE ESTABLISHED. THESE WILL BE THE RATES USED
TO "FILL IN THE BLANK" FOR THE INTEREST RATE PROVISION OF EACH CERTIFICATE OF
DEPOSIT.]

                              Attachment 4 Page 10
<PAGE>   51
        All accrued unpaid interest earned on the Account will be added to the
principal balance of the Account on the first Business Day of each calendar
month. If for any reason Agent shall withdraw or be paid all principal in the
Account on a day other than the first Business Day of any calendar month, then
any accrued, unpaid interest on the Account to the date of such withdrawal or
payment will also be paid to Agent by Deposit Taker on the date of such
withdrawal or payment.

                                          [                                    ]
                                          --------------------------------------

                                          By:
                                              ----------------------------------
                                              Name:
                                                     ---------------------------
                                              Title:
                                                     ---------------------------

                                          [Date]

                              Attachment 4 Page 11
<PAGE>   52
                                     ANNEX 1
                         TO NOTICE OF SECURITY INTEREST

                             CERTIFICATE OF DEPOSIT

                                 (No. _________)

                                [_________, 20__]

[NAME OF THE ISSUING
DEPOSIT TAKER AND THE
ADDRESS OF ITS APPLICABLE
ACCOUNT OFFICE]

PAYABLE TO
THE ORDER OF: BNP PARIBAS, as Agent under the Pledge Agreement (Phase IV - Land)
               dated as of October 2, 2000, among Network Appliance, Inc., BNP
               Leasing Corporation, BNP Paribas and any other financial
               institutions which are from time to time Participants under such
               Pledge Agreement (Phase IV - Land), and BNP Paribas, acting in
               its capacity as agent for BNPLC and the Participants

                                                                         Dollars
--------------------------------------------------------------------------------
in current funds, with interest as provided below, upon the first business day
that is at least seven days after presentment of this certificate properly
endorsed.

Interest will accrue on the deposit evidenced by this certificate from the date
first written above to the first business day of the first calendar month after
the date first written above at the rate of _____ percent (___%) per annum.

The bank issuing this certificate acknowledges and certifies that on the date
indicated above the payee deposited the dollar amount indicated above, and that
such amount shall be payable as provided above.

                                             -----------------------------------
                                             Authorized Signature

                              Attachment 4 Page 12
<PAGE>   53
                                  ATTACHMENT 5
                               TO PLEDGE AGREEMENT

                        EXAMPLES OF CALCULATIONS REQUIRED
                         TO AVOID A COLLATERAL IMBALANCE

        The examples below are provided to illustrate the calculations required
for allocations of Cash Collateral in a manner that will avoid a Collateral
Imbalance. The examples are not intended to reflect actual numbers under this
Agreement or actual Percentages of BNPLC or any of the Participants; nor are the
examples intended to provide a formula for the allocations that would be
appropriate in every case.

                                  EXAMPLE NO. 1

Assumptions:

1.      Two Participants ("Participant A" and "Participant B") are parties to
        the Participation Agreement with BNPLC. Participant A's Percentage is
        50% and Participant B's Percentage is 45%, leaving BNPLC with a
        Percentage of 5%.

2.      On the Base Rent Commencement Date (All Buildings), Funding Advances
        (including those to cover Carrying Costs under the Land Lease) totaled
        $12,000,000, resulting in a Stipulated Loss Value of $12,000,000,
        allocable as follows:

<TABLE>
<S>     <C>                                                         <C>
A.      BNPLC's Parent (providing BNPLC's share) (5%).............   $   600,000
B.      Participant A (50%).......................................     6,000,000
C.      Participant B (45%).......................................     5,400,000

        TOTAL.....................................................   $12,000,000
</TABLE>

3.      The Minimum Collateral Value on the Base Rent Commencement Date
        (All Buildings) was $12,000,000 (reflecting a Collateral
        Percentage of 100% times Stipulated Loss Value).

4.      On the Base Rent Commencement Date (All Buildings), NAI had delivered to
        Agent Cash Collateral of $12,000,000, equal to the Minimum Collateral
        Value, as required by Section 5.1 of this Agreement.

Allocation of Cash Collateral Required: To avoid a Collateral Imbalance under
these assumptions, Agent would be required to allocate the $12,000,000 to the
Deposit Takers for BNPLC and the Participants as follows:

<TABLE>
<S>      <C>                                                                        <C>
A.       BNPLC's Deposit Taker (5% of Minimum Collateral Value)..................   $   600,000
B.       Participant A's Deposit Taker (50% of Minimum Collateral Value).........   $ 6,000,000
C.       Participant B's  Deposit Taker (45% of Minimum Collateral Value)........   $ 5,400,000

         TOTAL...................................................................   $12,000,000
</TABLE>

                               Attachment 5 Page 1
<PAGE>   54
                                  EXAMPLE NO. 2

Assumptions:  Assume the same facts as in Example No. 1, and in
addition assume that:

1.      Effective as of the first Base Rent Date, a new Participant approved by
        NAI ("Participant C") became a party to this Agreement and the
        Participation Agreement, taking a Percentage of 20%. Simultaneously,
        Participant A and Participant B entered into supplements to the
        Participation Agreement which reduced their Percentages to 40% and 35%,
        respectively.

Allocation of Cash Collateral Required: To avoid a Collateral Imbalance under
these assumptions, Agent would be required to allocate the Cash Collateral as
required to leave the Deposit Takers for BNPLC and the Participants with the
following amounts:

<TABLE>
<S>     <C>                                                                        <C>
A.      BNPLC's Deposit Taker (5% of Minimum Collateral Value)..................   $   600,000
B.      Participant A's Deposit Taker (40% of Minimum Collateral Value).........   $ 4,800,000
C.      Participant B's Deposit Taker (35% of Minimum Collateral Value).........   $ 4,200,000
D.      Participant C's  Deposit Taker (20% of Minimum Collateral Value)........   $ 2,400,000
                                                                                   -----------
        TOTAL...................................................................   $12,000,000
</TABLE>

                              Attachment 5 Page 2
<PAGE>   55
                                  ATTACHMENT 6
                               TO PLEDGE AGREEMENT
                         NOTICE OF NAI'S REQUIREMENT TO
                         WITHDRAW EXCESS CASH COLLATERAL

                                [________, ____]

BNP Paribas
[address of BNP]

        Re:    Pledge Agreement (Phase IV - Land) dated as of October 2, 2000
               among Network Appliance, Inc., BNP Leasing Corporation, BNP
               Paribas and any other financial institutions which are from time
               to time Participants under such Pledge Agreement (Phase IV -
               Land) and BNP Paribas, acting in its capacity as agent for BNPLC
               and the Participants

Gentlemen:

        Capitalized terms used in this letter are intended to have the meanings
assigned to them in the Pledge Agreement (Phase IV - Land) referenced above (the
"PLEDGE AGREEMENT"). This letter constitutes notice to you, as Agent under the
Pledge Agreement, that pursuant to Section 6.1 of the Pledge Agreement, NAI
requires you to withdraw from the Accounts and return to NAI the following
amount:

               ____________________________ Dollars ($__________)

on the following date:

                                __________, ____

        To assure you that NAI has satisfied the conditions to its right to
require such withdrawal, and to induce you to comply with this notice, NAI
certifies to you that:

        1. Your withdrawal and delivery of the amount specified above to NAI
will not cause the Value of the remaining Collateral to be less than the Minimum
Collateral Value. After giving effect to such withdrawal, the Collateral
remaining in the Accounts maintained by the Deposit Takers will be:

               ____________________________ Dollars ($__________)

and the Minimum Collateral Value on the date specified above will equal:

               ____________________________ Dollars ($__________)

Such Minimum Collateral Value equals the Collateral Percentage of:

                               Attachment 6 Page 1
<PAGE>   56
                           __________ percent (___%),

times the Stipulated Loss Value of:

               ____________________________ Dollars ($__________).

        2. NAI is giving this notice to you, BNPLC and the Participants at least
ten days prior to the Base Rent Date specified above.

        3. No Default or Event of Default has occurred and is continuing as of
the date of this notice, and NAI does not anticipate that any Default or Event
of Default will have occurred and be continuing on the date upon which the
withdrawal is required.

        4. NAI agrees that you may determine the Accounts from which to make any
withdrawal required by NAI pursuant to this Section as necessary to prevent or
mitigate any Collateral Imbalance.

NOTE: YOU SHALL BE ENTITLED TO DISREGARD THIS NOTICE IF THE STATEMENTS ABOVE ARE
NOT CORRECT OR IF THE DATE FOR WITHDRAWAL SPECIFIED ABOVE IS LESS THAN TEN DAYS
AFTER YOUR RECEIPT OF THIS NOTICE. HOWEVER, WE ASK THAT YOU NOTIFY NAI
IMMEDIATELY IF FOR ANY REASON YOU BELIEVE THIS NOTICE IS DEFECTIVE.

        Please remember that the express terms of Certificates of Deposit issued
pursuant to the Pledge Agreement require presentment of the Certificates of
Deposit seven days before Cash Collateral is to be withdrawn from the Accounts
they evidence. Accordingly, you must present Certificates of Deposit to Deposit
Takers seven days prior to the withdrawal of Cash Collateral required by this
notice. For your convenience, we have attached a letter as Annex 1 to this
notice that you might execute and send to Deposit Takers to advise them of your
intent to withdraw and of your presentment of Certificates of Deposit as
required in connection therewith. The attached letter also sets forth the
amounts NAI believes you must withdraw from each Account to avoid a Collateral
Imbalance.

                                          Network Appliance, Inc.

                                          By:
                                                --------------------------------
                                          Name:
                                                --------------------------------
                                          Title:
                                                --------------------------------

[cc BNPLC and all Participants]

                              Attachment 6 Page 2
<PAGE>   57
                                     ANNEX 1
                        TO NAI'S NOTICE OF REQUIREMENT TO
                         WITHDRAW CASH EXCESS COLLATERAL

                                [________, ____]

Deposit Takers on the
Attached Distribution List

        Re:    Pledge Agreement (Phase IV - Land) dated as of October 2, 2000
               among Network Appliance, Inc., BNP Leasing Corporation, BNP
               Paribas and any other financial institutions which are from time
               to time Participants under such Pledge Agreement (Phase IV -
               Land) and BNP Paribas, acting in its capacity as agent for BNPLC
               and the Participants

Gentlemen:

        Capitalized terms used in this letter are intended to have the meanings
assigned to them in the Pledge Agreement (Phase IV - Land) referenced above (the
"PLEDGE AGREEMENT"). This letter constitutes notice from the undersigned, as
Agent under the Pledge Agreement, that pursuant to Section 6.1 of the Pledge
Agreement, NAI requires Agent to withdraw from the Accounts and return to NAI
the amounts listed below on the following date:

                                __________, ____

        Accordingly, on such date, the undersigned intends to withdraw the
following amounts from the following Accounts, and with this letter the
undersigned is presenting Certificates of Deposit as required in connection with
such withdrawal:

<TABLE>
<CAPTION>
Deposit Taker                          Account No.                   Amount
-------------                          -----------                   ------
<S>                              <C>                           <C>
1.                                                             $
  -----------------------       -------------------------      -----------------
2.                                                             $
  -----------------------       -------------------------      -----------------
3.                                                             $
  -----------------------       -------------------------      -----------------
4.                                                             $
  -----------------------       -------------------------      -----------------
                                TOTAL WITHDRAWALS:             $
                                                               -----------------
</TABLE>

                                          BNP Paribas, AS AGENT

                                          By:
                                                --------------------------------
                                          Name:
                                                --------------------------------
                                          Title:
                                                --------------------------------

[cc BNPLC and NAI]

                               Attachment 6 Page 3
<PAGE>   58
                                  ATTACHMENT 7
                               TO PLEDGE AGREEMENT

                         NOTICE OF NAI'S REQUIREMENT OF
                         DIRECT PAYMENTS TO PARTICIPANTS

                               [_________, _____]

BNP Paribas
[address of BNP]

        Re:    Pledge Agreement (Phase IV - Land) dated as of October 2, 2000
               among Network Appliance, Inc., BNP Leasing Corporation, BNP
               Paribas and any other financial institutions which are from time
               to time Participants under such Pledge Agreement (Phase IV -
               Land) and BNP Paribas, acting in its capacity as agent for BNPLC
               and the Participants

Gentlemen:

        Capitalized terms used in this letter are intended to have the meanings
assigned to them in the Pledge Agreement (Phase IV - Land) referenced above (the
"PLEDGE AGREEMENT"). This letter constitutes notice to you, as Agent under the
Pledge Agreement, that pursuant to Section 6.2 of the Pledge Agreement, NAI
requires you to withdraw from the Accounts and pay directly to the Participants
(in proportion to their respective Percentages) the following amount:

               ____________________________ Dollars ($__________)

on the following date (which, NAI acknowledges, must be the Designated Sale Date
or a date thereafter prior to an Event of Default):

                                __________, ____

        The amount specified above equals the following percentage (equal to the
aggregate of all Participant's Percentages):

                           __________ percent (___%),

times the total of all Cash Collateral presently pledged under the
Pledge Agreement:

               ____________________________ Dollars ($__________).

        To assure you that NAI has satisfied the conditions to its right to
require such withdrawal, and to induce you to comply with this notice, NAI
certifies to you that NAI is giving this notice to you, BNPLC and the
Participants at least ten days prior to the date of required withdrawal and
payment specified above.

                               Attachment 7 Page 1
<PAGE>   59

        Please remember that the express terms of Certificates of Deposit issued
pursuant to the Pledge Agreement require presentment of the Certificates of
Deposit seven days before Cash Collateral is to be withdrawn from the Accounts
they evidence. Accordingly, you must present Certificates of Deposit to Deposit
Takers seven days prior to the withdrawal of Cash Collateral required by this
notice. For your convenience, we have attached a letter as Annex 1 to this
notice that you might execute and send to Deposit Takers to advise them of your
intent to withdraw and of your presentment of Certificates of Deposit as
required in connection therewith. The attached letter also sets forth the
amounts NAI believes you must withdraw from each Account to comply with
subSection 6.2.2 of the Pledge Agreement.

                                          Network Appliance, Inc.

                                          By:
                                                --------------------------------
                                          Name:
                                                --------------------------------
                                          Title:
                                                --------------------------------

[cc BNPLC and all Participants]

                              Attachment 7 Page 2
<PAGE>   60
                                     ANNEX 1
                        TO NAI'S NOTICE OF REQUIREMENT TO
                          WITHDRAW CASH COLLATERAL FOR
                         DIRECT PAYMENTS TO PARTICIPANTS

                               [_________, _____]

Deposit Takers on the
Attached Distribution List

        Re:    Pledge Agreement (Phase IV - Land) dated as of October 2, 2000
               among Network Appliance, Inc., BNP Leasing Corporation, BNP
               Paribas and any other financial institutions which are from time
               to time Participants under such Pledge Agreement (Phase IV -
               Land) and BNP Paribas, acting in its capacity as agent for BNPLC
               and the Participants

Gentlemen:

        Capitalized terms used in this letter are intended to have the meanings
assigned to them in the Pledge Agreement (Phase IV - Land) referenced above (the
"Pledge Agreement"). This letter constitutes notice from the undersigned, as
Agent under the Pledge Agreement, that pursuant to Section 6.2 of the Pledge
Agreement, NAI requires Agent to withdraw from the Accounts and pay to the
Participants (in proportion to their respective Percentages) the amounts listed
below on the following date:

                                __________, ____

        Accordingly, on such date, the undersigned intends to withdraw the
following amounts from the following Accounts, and with this letter the
undersigned is presenting Certificates of Deposit as required in connection with
such withdrawal:

<TABLE>
<CAPTION>
Deposit Taker                          Account No.                   Amount
-------------                          -----------                   ------
<S>                              <C>                           <C>
1.                                                             $
  -----------------------       -------------------------      -----------------
2.                                                             $
  -----------------------       -------------------------      -----------------
3.                                                             $
  -----------------------       -------------------------      -----------------
4.                                                             $
  -----------------------       -------------------------      -----------------
                                TOTAL WITHDRAWALS:             $
                                                               -----------------
</TABLE>

                                          BNP Paribas, AS AGENT

                                          By:
                                                --------------------------------
                                          Name:
                                                --------------------------------
                                          Title:
                                                --------------------------------
[cc BNPLC and NAI]

                              Attachment 7 Page 3
<PAGE>   61
                                  ATTACHMENT 8
                               TO PLEDGE AGREEMENT

                         NOTICE OF NAI'S REQUIREMENT OF
                             DIRECT PAYMENT TO BNPLC

                               [_________, _____]

BNP Paribas
[address of BNP]

        Re:    Pledge Agreement (Phase IV - Land) dated as of October 2, 2000
               among Network Appliance, Inc., BNP Leasing Corporation, BNP
               Paribas and any other financial institutions which are from time
               to time Participants under such Pledge Agreement (Phase IV -
               Land) and BNP Paribas, acting in its capacity as agent for BNPLC
               and the Participants

Gentlemen:

        Capitalized terms used in this letter are intended to have the meanings
assigned to them in the Pledge Agreement (Phase IV - Land) referenced above (the
"PLEDGE AGREEMENT"). This letter constitutes notice to you, as Agent under the
Pledge Agreement, that pursuant to Section 6.3 of the Pledge Agreement, NAI
requires you to withdraw from the Account maintained by the Deposit Taker for
BNPLC and pay directly to BNPLC on behalf of NAI as a payment required by the
Purchase Agreement the following amount:

               ____________________________ Dollars ($__________)

on the following date (which, NAI acknowledges, must be the Designated Sale Date
or a date thereafter prior to an Event of Default):

                            __________, ____

        To assure you that NAI has satisfied the conditions to its right to
require such withdrawal, and to induce you to comply with this notice, NAI
certifies to you that NAI is giving this notice to you and BNPLC at least ten
days prior to the date of required withdrawal and payment specified above.

        Please remember that the express terms of Certificates of Deposit issued
pursuant to the Pledge Agreement require presentment of the Certificates of
Deposit seven days before Cash Collateral is to be withdrawn from the Accounts
they evidence. Accordingly, you must present Certificates of Deposit to the
Deposit Taker for BNPLC seven days prior to the withdrawal of Cash Collateral
required by this notice. For your convenience, we have attached a letter as
Annex 1 to this notice that you might execute and send to the Deposit Taker for
BNPLC to advise it of your intent to withdraw and of your presentment of
Certificates of Deposit as

                              Attachment 8 Page 1
<PAGE>   62
required in connection therewith. The attached letter also sets forth the amount
NAI believes you must withdraw to comply with Section 6.3 of the Pledge
Agreement.

                                          Network Appliance, Inc.

                                          By:
                                                --------------------------------
                                          Name:
                                                --------------------------------
                                          Title:
                                                --------------------------------

[cc BNPLC]

                              Attachment 8 Page 2
<PAGE>   63
                                     ANNEX 1
                        TO NAI'S NOTICE OF REQUIREMENT OF
                             DIRECT PAYMENT TO BNPLC

                               [_________, _____]

[Name of the Deposit Taker for BNPLC]
[Address of such Deposit Taker]

        Re:    Pledge Agreement (Phase IV - Land) dated as of October 2, 2000
               among Network Appliance, Inc., BNP Leasing Corporation, BNP
               Paribas and any other financial institutions which are from time
               to time Participants under such Pledge Agreement (Phase IV -
               Land) and BNP Paribas, acting in its capacity as agent for BNPLC
               and the Participants

Gentlemen:

        Capitalized terms used in this letter are intended to have the meanings
assigned to them in the Pledge Agreement (Phase IV - Land) referenced above (the
"Pledge Agreement"). This letter constitutes notice from the undersigned, as
Agent under the Pledge Agreement, that pursuant to Section 6.3 of the Pledge
Agreement, NAI requires Agent to withdraw from the Account maintained by you, as
Deposit Taker for BNPLC, the sum of:

           ____________________________ Dollars ($__________)

and pay the same to BNPLC as a payment required by the Purchase
Agreement on the following date:

                                __________, ____

        Accordingly, on such date, the undersigned intends to withdraw such
amount from the following Account maintained by you as Deposit Taker for BNPLC,
and with this letter the undersigned is presenting Certificate(s) of Deposit as
required in connection with such withdrawal.

                                          BNP PARIBAS, AS AGENT

                                          By:
                                                --------------------------------
                                          Name:
                                                --------------------------------
                                          Title:
                                                --------------------------------

[cc BNPLC and NAI]

                              Attachment 8 Page 3
<PAGE>   64
                                  ATTACHMENT 9
                               TO PLEDGE AGREEMENT

                   NOTICE OF NAI'S REQUIREMENT OF A WITHDRAWAL
                             OF CASH COLLATERAL FROM
                          A DISQUALIFIED DEPOSIT TAKER

                               [_________, _____]

BNP Paribas
[address of BNP]

        Re:    Pledge Agreement (Phase IV - Land) dated as of October 2, 2000
               among Network Appliance, Inc., BNP Leasing Corporation, BNP
               Paribas and any other financial institutions which are from time
               to time Participants under such Pledge Agreement (Phase IV -
               Land) and BNP Paribas, acting in its capacity as agent for BNPLC
               and the Participants

Gentlemen:

        Capitalized terms used in this letter are intended to have the meanings
assigned to them in the Pledge Agreement (Phase IV - Land) referenced above (the
"PLEDGE AGREEMENT"). This letter constitutes notice to you, as Agent under the
Pledge Agreement, that pursuant to Section 6.4 of the Pledge Agreement, NAI
requires you to withdraw from the following Account maintained by the following
Deposit Taker:

<TABLE>
<CAPTION>
               Deposit Taker                             Account No.
               -------------                             -----------
<S>   <C>                                          <C>
      ----------------------------------           ------------------------

      ----------------------------------           ------------------------
</TABLE>

Cash Collateral in the following amount:

               ____________________________ Dollars ($__________)

and to deposit such Cash Collateral with other Deposit Takers who are not
Disqualified Deposit Takers no later than ten days after the date upon which you
receive this notice.

        To assure you that NAI has the right to require such withdrawal, and to
induce you to comply with this notice, NAI certifies to you that the Deposit
Taker specified above has become a Disqualified Deposit Taker because it no
longer satisfies the requirements listed in Section 4.1 of the Pledge Agreement.
Specifically, such Deposit Taker no longer satisfies the following requirements:

[NAI MUST INSERT HERE A DESCRIPTION OF WHICH REQUIREMENTS THE DEPOSIT TAKER NO
LONGER SATISFIES AND HOW NAI HAS DETERMINED THAT THE REQUIREMENTS ARE NO LONGER
SATISFIED, ALL IN SUFFICIENT DETAIL TO PERMIT THE PARTICIPANT FOR WHOM SUCH
DEPOSIT TAKER

                              Attachment 9 Page 1
<PAGE>   65
HAS BEEN MAINTAINING AN ACCOUNT TO RESPOND IF IT BELIEVES THAT NAI IS IN ERROR.]

        Please remember that the express terms of Certificates of Deposit issued
pursuant to the Pledge Agreement require presentment of the Certificates of
Deposit seven days before Cash Collateral is to be withdrawn from the Accounts
they evidence. Accordingly, you must present Certificates of Deposit to the
Deposit Taker specified above seven days prior to the withdrawal of Cash
Collateral required by this notice. For your convenience, we have attached a
letter as Annex 1 to this notice that you might execute and send to such Deposit
Taker to advise it of your intent to withdraw and of your presentment of
Certificates of Deposit as required in connection therewith. The attached letter
also sets forth the amount NAI believes you must withdraw to comply with Section
6.4 of the Pledge Agreement.

                                          Network Appliance, Inc.

                                          By:
                                                --------------------------------
                                          Name:
                                                --------------------------------
                                          Title:
                                                --------------------------------

[cc BNPLC]

                              Attachment 9 Page 2
<PAGE>   66
                                     ANNEX 1
                 TO NAI'S NOTICE OF REQUIREMENT OF A WITHDRAWAL
                             OF CASH COLLATERAL FROM
                          A DISQUALIFIED DEPOSIT TAKER

                               [_________, _____]

[Name of the Deposit Taker for BNPLC]
[Address of such Deposit Taker]

        Re:    Pledge Agreement (Phase IV - Land) dated as of October 2, 2000
               among Network Appliance, Inc., BNP Leasing Corporation, BNP
               Paribas and any other financial institutions which are from time
               to time Participants under such Pledge Agreement (Phase IV -
               Land) and BNP Paribas, acting in its capacity as agent for BNPLC
               and the Participants

Gentlemen:

        Capitalized terms used in this letter are intended to have the meanings
assigned to them in the Pledge Agreement (Phase IV - Land) referenced above (the
"PLEDGE AGREEMENT"). This letter constitutes notice from the undersigned, as
Agent under the Pledge Agreement, that pursuant to Section 6.4 of the Pledge
Agreement, NAI has advised Agent that you are a Disqualified Deposit Taker, and
NAI requires Agent to withdraw from the Account maintained by you, as a Deposit
Taker under the Pledge Agreement, the sum of:

               ____________________________ Dollars ($__________)

no later than the following date:

                                __________, ____

        Accordingly, on such date, the undersigned intends to withdraw such
amount from the Account maintained by you as Deposit Taker (Account No.
__________), and with this letter the undersigned is presenting Certificate(s)
of Deposit as required in connection with such withdrawal.

                                          BNP PARIBAS, AS AGENT

                                          Name:
                                                 -------------------------------
                                          Title:
                                                 -------------------------------

[cc BNPLC and NAI]

                              Attachment 9 Page 3
<PAGE>   67
                                   Schedule 1

                   Financial Covenants and Negative Covenants

        This Schedule 1 is attached to and made a part of (a) the Lease
Agreement (Phase IV - Land) (the "LAND LEASE") dated to be effective as of
October 2, 2000 (the "Effective Date"), between BNP Leasing Corporation, a
Delaware corporation ("BNPLC") and Network Appliance, Inc., a California
corporation ("NAI"), (b) the Lease Agreement (Phase IV - Land) (the "LAND LEASE"
and, together with the Land Lease, the "Leases") dated to be effective as of the
Effective Date, between BNPLC and NAI, (c) the Pledge Agreement (Phase IV -
Land) (the "PLEDGE AGREEMENT (LAND)") dated to be effective as of the Effective
Date, among BNPLC, NAI, and BNP Paribas, as a Participant and as agent for any
financial institutions that become Participants thereunder from time to time,
and (d) the Pledge Agreement (Phase IV - Land) (collectively with the Pledge
Agreement (Land), the "PLEDGE AGREEMENTS") dated to be effective as of the
Effective Date, among BNPLC, NAI, and BNP Paribas, as a Participant and as agent
for any financial institutions that become Participants thereunder from time to
time.

                             PART I - DEFINED TERMS

        In this Schedule 1, capitalized terms used but not defined herein shall
have the meaning assigned to them in the Leases or the Common Definitions and
Provisions Agreements referenced in the Leases; and the following capitalized
terms shall have the following meanings:

        "ADJUSTED NET INCOME" means, for any fiscal period of NAI, the aggregate
        net income earned (or net losses incurred) during such period by NAI and
        its Subsidiaries (determined on a consolidated basis), plus any
        Permitted Non-Cash Charges deducted in determining such net income (or
        net loss).

        "ADJUSTED EBIT" means, for any accounting period, net income (or net
        loss) of NAI and its Subsidiaries (determined on a consolidated basis),
        plus the amounts (if any) which, in the determination of net income (or
        net loss) for such period, have been deducted for (a) interest expense,
        (b) income tax expense (c) rent expense under leases of property, and
        (d) Permitted Non-Cash Charges.

        "CONSOLIDATED TANGIBLE NET WORTH" means the excess of (1) the total
        assets, other than Intangible Assets, of NAI and its Subsidiaries
        (determined on a consolidated basis) over (2) the total liabilities of
        NAI and its Subsidiaries (determined on a consolidated basis).

        "DEBT" as used in this Exhibit shall have the meaning assigned to it in
        the Common Definitions and Provisions Agreements, where "Debt" of any
        Person is defined to mean (without duplication of any item): (a)
        indebtedness of such Person for borrowed money; (b) indebtedness of such
        Person for the deferred purchase price of property or services (except
        trade payables and accrued expenses constituting current liabilities in
        the ordinary course of business); (c) the face amount of any outstanding
        letters of credit issued for the account of such Person; (d) obligations
        of such Person arising under acceptance facilities; (e) guaranties,
        endorsements (other than for collection in the ordinary course of
        business) and other contingent obligations of such Person to purchase,
        to provide funds for payment, to provide funds to invest in any Person,
        or otherwise to

                               Schedule 1 Page 1
<PAGE>   68

        assure a creditor against loss; (f) obligations of others secured by any
        Lien on property of such Person; (g) obligations of such Person as
        lessee under Capital Leases; and (h) the obligations of such Person,
        contingent or otherwise, under any lease of property or related
        documents (including a separate purchase agreement) which provide that
        such Person or any of its Affiliates must purchase or cause another
        Person to purchase any interest in the leased property and thereby
        guarantee a minimum residual value of the leased property to the lessor.
        For purposes of this definition, the amount of the obligations described
        in clause (h) of the preceding sentence with respect to any lease
        classified according to GAAP as an "operating lease," shall equal the
        sum of (1) the present value of rentals and other minimum lease payments
        required in connection with such lease [calculated in accordance with
        SFAS 13 and other GAAP relevant to the determination of the whether such
        lease must be accounted for as an operating lease or capital lease],
        plus (2) the fair value of the property covered by the lease; provided,
        however, that such amount shall not exceed the price, as of the date a
        determination of Debt is required hereunder, for which the lessee can
        purchase the leased property pursuant to any valid ongoing purchase
        option if, upon such a purchase, the lessee shall be excused from paying
        rentals or other minimum lease payments that would otherwise accrue
        after the purchase.

        "FIXED CHARGES" means, for any accounting period, the sum (without
        duplication of any item) of the following charges or costs incurred or
        paid by NAI and its Subsidiaries (determined on a consolidated basis):
        (a) gross interest expense, plus (b) amortization of principal or debt
        discount in respect of all Debt during such period, plus (c) rent
        payable under all leases of property during such period, plus (d) taxes
        payable during such period.

        "INTANGIBLE ASSETS" means assets of NAI and its Subsidiaries (determined
        on a consolidated basis) that are properly classified as "intangible
        assets" in accordance with GAAP and, in any event, shall include
        goodwill, patents, trade names, trademarks, copyrights, franchises,
        experimental expense, organization expense, unamortized debt discount
        and expense, and deferred charges (other than prepaid insurance, prepaid
        taxes and current deferred taxes to the extent any such prepaid or
        deferred items are classified on the balance sheet of NAI and its
        consolidated Subsidiaries as current assets in accordance with GAAP and
        with the concurrence of NAI's independent public accountants).

        "PERMITTED NON-CASH CHARGES" means the amounts (if any) which, in the
        determination of net income (or net loss) for any relevant fiscal
        period, have been deducted by NAI or its Subsidiaries for non-cash
        charges made to write down goodwill or research and development costs in
        connection with acquisitions permitted by this Schedule 1.

        "QUICK RATIO" means the ratio of:

                      (A) the sum (without duplication of any item) of the
               following assets of NAI and its Subsidiaries (determined on a
               consolidated basis): Collateral delivered and pledged under the
               Pledge Agreements in accordance with the requirements thereof (if
               any); plus unencumbered cash; plus unencumbered short term cash
               investments; plus other unencumbered marketable securities which
               are

                               Schedule 1 Page 2
<PAGE>   69

               classified as short term investments in accordance with GAAP;
               plus unencumbered accounts receivable, computed net of reserves
               for uncollectible amounts as determined in accordance with GAAP,
               to

                      (B) the sum (without duplication of any item) of (1) all
               liabilities of NAI and its Subsidiaries (determined on a
               consolidated basis) treated as current liabilities in accordance
               with GAAP, plus (2) other obligations included in total Debt of
               NAI and its Subsidiaries (determined on a consolidated basis),
               the payment of which is due on demand or will become due within
               one year after the date on which the applicable determination of
               Quick Ratio is required hereunder.

        "ROLLING FOUR QUARTER PERIOD" means a period of four consecutive fiscal
        quarters of NAI, the last of which quarters ends after December 31,
        1999.

                PART II - FINANCIAL COVENANTS FOR LEASE AGREEMENT

NAI covenants that it shall not at any time suffer or permit:

1.      Minimum Unencumbered Cash and Cash Equivalents. The sum (without
        duplication of any item) of the unrestricted cash, Collateral delivered
        and pledged under the Pledge Agreements in accordance with the
        requirements thereof (if any), unencumbered short term cash investments
        and unencumbered marketable securities classified as short term
        investments according to GAAP of NAI and its Subsidiaries (determined on
        a consolidated basis) to be less than total Debt of NAI and its
        Subsidiaries (determined on a consolidated basis).

2.      Minimum Tangible Net Worth. Consolidated Tangible Net Worth to be less
        than the sum of: (a) ninety percent of the Consolidated Tangible Net
        Worth as of October 30, 1998; plus (b) seventy-five percent of NAI's net
        income (computed without deduction for net losses in any fiscal quarter)
        earned in each fiscal quarter since October 30, 1998; plus (c)
        one-hundred percent of the net proceeds of sales of stock in NAI or its
        Subsidiaries (other than sales to NAI or its Subsidiaries) after October
        30, 1998; less (d) Permitted Non-Cash Charges for any period after
        October 30, 1998.

3.      Minimum Quick Ratio. The Quick Ratio to be less than 1.50 to 1.00.

4.      Minimum Fixed Charge Coverage. The ratio of (a) Adjusted EBIT for any
        Rolling Four Quarter Period to (b) Fixed Charges for the same Rolling
        Four Quarter Period, to be less than 1.50 to 1.00.

5.      Minimum Profitability. Adjusted Net Income to be less than $1.00 in more
        than one fiscal quarter of any Rolling Four Quarter Period.

6.      Maximum Leverage Ratio. The ratio of (a) total Debt of NAI and its
        Subsidiaries (determined on a consolidated basis) at the end of any
        Rolling Four Quarter Period to (b) the Adjusted EBIT for the same Four
        Quarter Rolling Period, to exceed 3.00 to 1.00.

                               Schedule 1 Page 3
<PAGE>   70
                           PART III - OTHER COVENANTS

Without limiting NAI's obligations under the other provisions of the Operative
Documents, during the Term, NAI shall not, without the prior written consent of
BNPLC in each case:

        A. Liens. Create, incur, assume or suffer to exist, or permit any of its
Consolidated Subsidiaries to create, incur, assume or suffer to exist, any Lien,
upon or with respect to any of its properties, now owned or hereafter acquired,
provided that the following shall be permitted except to the extent that they
would encumber any interest in the Property in violation of other provisions of
the Operative Documents:

                1. Liens for taxes or assessments or other government charges or
        levies if not yet due and payable or if they are being contested in good
        faith by appropriate proceedings and for which appropriate reserves are
        maintained;

                2. Liens imposed by law, such as mechanic's, materialmen's,
        landlord's, warehousemen's and carrier's Liens, and other similar Liens,
        securing obligations incurred in the ordinary course of business which
        are not past due for more than thirty (30) days, or which are being
        contested in good faith by appropriate proceedings and for which
        appropriate reserves have been established;

                3. Liens under workmen's compensation, unemployment insurance,
        social security or similar laws (other than ERISA);

                4. Liens, deposits or pledges to secure the performance of bids,
        tenders, contracts (other than contracts for the payment of money),
        leases, public or statutory obligations, surety, stay, appeal,
        indemnity, performance or other similar bonds, or other similar
        obligations arising in the ordinary course of business;

                5. judgment and other similar Liens against assets other than
        the Property or any part thereof in an aggregate amount not in excess of
        $3,000,000 arising in connection with court proceedings; provided that
        the execution or other enforcement of such Liens is effectively stayed
        and the claims secured thereby are being actively contested in good
        faith by appropriate proceedings;

                6. easements, rights-of-way, restrictions and other similar
        encumbrances which, in the aggregate, do not materially interfere with
        the occupation, use and enjoyment by NAI or any such Consolidated
        Subsidiary of the property or assets encumbered thereby in the normal
        course of its business or materially impair the value of the property
        subject thereto;

                7. Liens securing obligations of such a Consolidated Subsidiary
        to NAI or to another such Consolidated Subsidiary;

                8. Liens not otherwise permitted by this subparagraph A (and not
        encumbering the Property or any Collateral) incurred in connection with
        the incurrence of additional Debt or asserted to secure Unfunded Benefit
        Liabilities, provided that (a) the sum of the aggregate principal amount
        of all outstanding obligations secured by Liens

                               Schedule 1 Page 4
<PAGE>   71
        incurred pursuant to this clause shall not at any time exceed five
        percent (5%) of Consolidated Tangible Net Worth at such time; and (b)
        such Liens do not constitute Liens against NAI's interest in any
        material Subsidiary or blanket Liens against all or substantially all of
        the inventory, receivables, general intangibles or equipment of NAI or
        of any material Subsidiary of NAI (for purposes of this clause, a
        "material Subsidiary" means any subsidiary whose assets represent a
        substantial part of the total assets of NAI and its Subsidiaries,
        determined on a consolidated basis in accordance with GAAP); and

               9. Liens incurred in connection with any renewals, extensions or
        refundings of any Debt secured by Liens described in the preceding
        clauses of this subparagraph A, provided that there is no increase in
        the aggregate principal amount of Debt secured thereby from that which
        was outstanding as of the date of such renewal, extension or refunding
        and no additional property is encumbered.

        B. Transactions with Affiliates. Enter into or permit any Subsidiary of
NAI to enter into any material transactions (including, without limitation, the
purchase, sale or exchange of property or the rendering of any service) with any
Affiliates of NAI except on terms (1) that would not cause or result in a
Default by NAI under the financial covenants set forth in Part II of this
Schedule, and (2) that are no less favorable to NAI or the relevant Subsidiary
than those that would have been obtained in a comparable transaction on an arm's
length basis from an unrelated Person.

        C. Compliance. Fail to preserve and maintain all licenses, permits,
governmental approvals, rights, privileges and franchises necessary for the
conduct of its business; or fail to comply with the provisions of all documents
pursuant to which NAI is organized and/or which govern NAI's continued existence
and with the requirements of all laws, rules, regulations and orders of a
governmental agency applicable to NAI and/or its business.

        D. Insurance. Fail to maintain and keep in force insurance of the types
and in amounts customarily carried in lines of business similar to that of NAI,
including but not limited to fire, extended coverage, public liability, flood,
property damage and workers' compensation, with all such insurance carried with
companies and in amounts satisfactory to BNPLC, or fail to deliver to BNPLC from
time to time at BNPLC's request schedules setting forth all insurance then in
effect.

        E. Facilities. fail to keep all properties useful or necessary to NAI's
business in good repair and condition, or to from time to time make necessary
repairs, renewals and replacements thereto so that such properties shall be
fully and efficiently preserved and maintained.

        F. Taxes and Other Liabilities. Fail to pay and discharge when due any
and all indebtedness, obligations, assessments and taxes, both real or personal,
including without limitation federal and state income taxes and state and local
property taxes and assessments, except (a) such as NAI may in good faith contest
or as to which a bona fide dispute may arise, and (b) for which NAI has made
provisions, to BNPLC's satisfaction, for eventual payment thereof in the event
that NAI is obligated to make such payment.

                               Schedule 1 Page 5
<PAGE>   72
        G. Capital Expenditures. Make any additional investment in fixed assets
in any fiscal year in excess of an aggregate of twenty percent (20%) of NAI's
total assets as of the end of the prior fiscal year.

        H. Merger, Consolidation, Transfer of Assets. Merge into or consolidate
with any other entity (unless NAI is the surviving entity and remains in
compliance of all provisions of the Operative Documents); or make any
substantial change in the nature of NAI's business as conducted as of the date
hereof; or sell, lease, transfer or otherwise dispose of all or a substantial or
material portion of NAI's assets except in the ordinary course of its business.

        I. Loans, Advances, Investments. Make any loans or advances to or
investments in any person or entity, except (a) any of the foregoing existing as
of, and disclosed to BNPLC prior to, the date hereof, (b) loans to employees for
travel advances, relocation loans and other loans in the ordinary course of
business, (c) investments in accordance with NAI's investment policy, as in
effect from time to time, (d) existing investments in subsidiaries and joint
ventures which have been disclosed to BNPLC in writing prior to the date hereof,
and new investments in subsidiaries and joint ventures in amounts up to an
aggregated of $10,000,000.00, (e) loans to employees, officers, directors to
finance or refinance the purchase of equity securities of NAI.

        J. Dividends, Distributions. Declare or pay any dividend or distribution
either in cash, stock or any other property on NAI's stock now or hereafter
outstanding, nor redeem, retire, repurchase or otherwise acquire any shares of
any class of NAI's stock now or hereafter outstanding.

                               Schedule 1 Page 6

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