Document:

KBS RIII Pre-Eff no.1 to PEA no.6 -Exhibit 10.41

Exhibit 10.41

FIRST AMENDMENT TO PURCHASE AGREEMENT FOR REAL PROPERTY 
AND ESCROW INSTRUCTIONS
THIS FIRST AMENDMENT TO PURCHASE AGREEMENT FOR REAL PROPERTY AND ESCROW INSTRUCTIONS (this “First Amendment”) is made as of the 10th day of April, 2012, by and between SLHNet Investments, L.C., a Utah limited liability company (“Seller”), and KBSIII 155 NORTH 400 WEST, LLC, a Delaware limited liability company (“Purchaser”), successor-in-interest to KBS CAPITAL ADVISORS LLC, a Delaware limited liability company (“Original Purchaser”).  In consideration of the mutual promises and covenants contained herein, the parties hereto agree as follows: 
RECITALS
A.    Seller and Original Purchaser are parties to that certain Purchase Agreement for Real Property and Escrow Instructions dated as of March 8, 2012 (the “Purchase Agreement”).  All initially-capitalized terms not otherwise defined herein shall have the meanings set forth in the Purchase Agreement unless the context clearly indicates otherwise.
B.    The Purchase Agreement was assigned to Purchaser pursuant to an Assignment and Assumption of Purchase Agreement dated April 9, 2012, by and between Original Purchaser, as assignor, and Purchaser, as assignee.
C.    Seller and Purchaser have agreed to modify the terms of the Purchase Agreement as set forth in this First Amendment.
NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intended to be legally bound, Seller and Purchaser agree as follows:
1.    Recitals.  The Recitals set forth above are hereby incorporated herein by reference as if the same were fully set forth herein.
2.    Exhibits.  Exhibits B (List of Personal Property), C (List of Leases) and E (List of Service Contracts) attached to the Purchase Agreement shall be, and hereby are, deleted therefrom, and Exhibits B (List of Personal Property), C (List of Leases) and E (List of Service Contracts) attached hereto shall be, and hereby are, substituted in their place, respectively.
3.    Generators.  Seller acknowledges and agrees that the Personal Property to be purchased by Purchaser in accordance with the terms and provisions of the Purchase Agreement shall include all generators located on the Property as of the Effective Date, including, without limitation, the generators listed in Exhibit B attached hereto.
4.    Assumption of Service Contracts.  In accordance with Section 3.3 of the Purchase Agreement, Purchaser hereby elects not to assume any of the Service Contracts, and all such Service Contracts shall be terminated by Seller at Closing.

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5.    Right of Way Contract.  Notwithstanding anything stated to the contrary in the Purchase Agreement, as a condition to the Closing and Purchaser’s obligation to consummate the transaction contemplated by the Purchase Agreement, on or prior to the Closing Date, Seller shall deliver to Purchaser an executed copy of the Right of Way Contract attached hereto as Exhibit D executed by Seller and the Utah Transit Authority.
6.    Improvement Work.  Notwithstanding anything stated to the contrary in the Purchase Agreement, as a condition to the Closing and Purchaser’s obligation to consummate the transaction contemplated by the Purchase Agreement, all improvement work for the Property disclosed by Utah’s State Construction Registry (including, without limitation, the work disclosed in Schedule 1 attached hereto) shall have been completed and paid for, and Seller covenants and agrees to deliver to Purchaser, no less than three (3) business days prior to the Closing Date, evidence reasonably satisfactory to Purchaser that all such improvement work have been completed and paid for (which evidence shall include the delivery of all invoices, receipts and lien waivers).  Seller further covenants and agrees to execute at Closing any documents, undertakings or agreements reasonably required by the Title Company in order for the Title Company to issue the Approved Title Policy free and clear of any exceptions for mechanics’ liens.
7.    Access Easement.  Notwithstanding anything stated to the contrary in the Purchase Agreement, as a condition to the Closing and Purchaser’s obligation to consummate the transaction contemplated by the Purchase Agreement, on or prior to the Closing Date, Seller shall deliver into Escrow for recording an access easement in a form reasonably acceptable to Purchaser (the “Access Easement”), granting the owner of the Property non-exclusive vehicular and pedestrian access over Seller’s property depicted on Schedule 2 attached to this First Amendment (“Servient Estate”), executed by Seller as the owner of the Property and the Servient Estate.  The Access Easement will provide that Seller will retain the right to dedicate the Servient Estate as a public street and that the Access Easement will terminate upon such dedication.
8.    Compliance with Subdivision Map Act.  Notwithstanding anything stated to the contrary in the Purchase Agreement, as a condition to the Closing and Purchaser’s obligation to consummate the transaction contemplated by the Purchase Agreement, the Land (or any parcel thereof), to be transferred to Purchaser in accordance with the terms and provisions of the Purchase Agreement shall constitute lawfully created parcels under all subdivision laws governing the Land (collectively, the “Subdivision Laws”) as to enable the Title Company to endorse the Approved Title Policy with an ALTA 26 endorsement (“Subdivision Endorsement”) at Closing.  Seller hereby covenants and agrees, to the extent necessary, to use commercially reasonable efforts, at its sole cost and expense, to obtain a certificate of compliance from the appropriate governing agency evidencing the Land’s (or any parcel thereof) compliance with the Subdivision Laws.  In the event the Land (or any parcel thereof) does not comply with the Subdivision Laws and/or the Title Company is unable to issue the Subdivision Endorsement, then Purchaser shall have the option, upon two (2) business days written notice to the Seller, to extend the Closing Date one or more times for a period not to exceed sixty (60) days in the aggregate in order to attempt to (with no obligation to do so) cause (a) the Land (or any parcel thereof) to comply with the Subdivision Laws, and/or (b) the Title Company to issue the Subdivision Endorsement.

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9.    Tax Parcel Number.  Notwithstanding anything stated to the contrary in the Purchase Agreement, as a condition to the Closing and Purchaser’s obligation to consummate the transaction contemplated by the Purchase Agreement, Parcel 2 of the Land shall be taxed as a separate tax parcel, which tax parcel number shall include no other property other than Parcel 2 of the Land.  Seller hereby covenants and agrees, at its sole cost and expense, to use commercially reasonable efforts to cause Parcel 2 of the Land to be taxed as a separate tax parcel prior to the Close of Escrow.
10.    CCI Communication Renewal.  Seller shall use commercially reasonable efforts to obtain and deliver to Purchaser on or prior to the Closing Date a signed copy of CCI Communications’ lease renewal on lease terms reasonably acceptable to Purchaser, including, without limitation, the following lease terms:  lease premises covering 6,600 sf, $20.45 psf FSG starting base rental rate, 3% annual escalations, 2012 base year stop, 36 month term, no free rent, no tenant improvement allowances and no unpaid leasing costs.  However, such a lease renewal shall not be a condition to the Closing and Purchaser’s obligation to consummate the transaction contemplated by the Purchase Agreement.
11.    Freedom Fast Track, LLC.  Notwithstanding anything stated to the contrary in the Purchase Agreement, as a condition to the Closing and Purchaser’s obligation to consummate the transaction contemplated by the Purchase Agreement, the tenant Freedom Fast Tract, LLC shall be in lawful possession of the premises under its lease, and the Approved Estoppel delivered to Purchaser for Freedom Fast Tract, LLC shall confirm the foregoing.
12.    Special Assessments.  Notwithstanding anything stated to the contrary in the Purchase Agreement, as a condition to the Closing and Purchaser’s obligation to consummate the transaction contemplated by the Purchase Agreement, the special assessments levied by Salt Lake City for Extension No. 109014 (SAA ID: 927) (“Special Assessments”), in the total amount of $1,105,542.30 (together with any applicable interest and any other amounts required to cause such Special Assessments to be paid in full), shall be paid by Seller at Closing, and through escrow with Escrow Holder, by wire transfer to Salt Lake City.  
13.    Credits for Leasing Costs.  In addition to any amounts to be credited to Purchaser for Pre-Closing Leasing Costs under Section 8.4.6 of the Purchase Agreement, Seller acknowledges and agrees that Purchaser shall be entitled to a credit at Closing towards the Purchase Price for unpaid leasing costs in the amounts (to the extent not paid prior to Closing), and for the tenants, set forth in Exhibit A attached hereto and made a part hereof.  Purchaser shall be obligated to pay all unpaid leasing costs for which Purchaser receives a credit pursuant to this Section 13.  The provisions of this Section 13 shall not limit or impair Purchaser’s right to receive a credit for any other leasing costs covered by the provisions of the Purchase Agreement.
14.    3-14 Audit Documents.  Seller acknowledges and agrees that Seller shall continue to be obligated until the Closing to provide to Purchaser (a) the Buyer’s 3-14 Audit Documents referenced in Section 3.2.2(c) of the Purchase Agreement, and (b) the answers to such questions, in written form, relating to the Property which are set forth in Schedule “1” attached to the Purchase Agreement.

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15.    Property Approval Notice.  The execution and delivery of this First Amendment shall have the same effect as Purchaser’s delivery to Seller of the “Feasibility Notice” prior to expiration of the “Feasibility Period” in accordance with the provisions of Section 3.2.4 of the Purchase Agreement.  Also, Purchaser’s concurrent delivery to Seller of a title commitment pursuant to the provisions of Section 3.1.5 of the Purchase Agreement shall be considered delivered to Seller prior to the expiration of the Feasibility Period.
16.    Effectiveness of Agreement.  Except as modified by this First Amendment, all the terms of the Purchase Agreement shall remain unchanged and in full force and effect.
17.    Counterparts.  This First Amendment may be executed in counterparts, and all counterparts together shall be construed as one document.
18.    Telecopied Signatures.  A counterpart of this First Amendment that is signed by one party to this First Amendment and telecopied or emailed to the other party to this First Amendment or its counsel (i) shall have the same effect as an original signed counterpart of this First Amendment, and (ii) shall be conclusive proof, admissible in judicial proceedings, of such party’s execution of this First Amendment.
19.    Successors and Assigns.  All of the terms and conditions of this First Amendment shall apply to benefit and bind the successors and assigns of the respective parties.
IN WITNESS WHEREOF, Seller and Purchaser have entered into this First Amendment to Purchase and Sale Agreement and Escrow Instructions as of the date first above stated.
[SIGNATURES ON NEXT TWO PAGES]

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“SELLER”
SLHNET INVESTMENTS, L.C.,
a Utah limited liability company

By:    SLH PARTNERSHIP, LLC, 
a Utah limited liability company, 
its Manager

By:     /s/ John W. Williams 
John W. Williams, 
Manager

“PURCHASER”
KBSIII 155 NORTH 400 WEST, LLC,
a Delaware limited liability company

By:    KBSIII REIT ACQUISITION V, LLC, 
a Delaware limited liability company, 
its sole member

By:    KBS REIT PROPERTIES III, LLC, 
a Delaware limited liability company, 
its sole member

By:    KBS LIMITED PARTNERSHIP III, 
a Delaware limited partnership, 
its sole member

By:    KBS REAL ESTATE INVESTMENT TRUST III, INC., 
a Maryland corporation, 
its general partner

By:    /s/ Charles J. Schreiber, Jr. 
Charles J. Schreiber, Jr., 
Chief Executive Officer

EXHIBIT A

Leasing Costs

	
			
	1.
	  Jviation:      
	outstanding TI of $3,506.88

	2.
	 Freedom Fast Track:
	outstanding LC of $17,687.52

	3.
	   SuperValue: 
	outstanding TI of $151,668.00

	 
	 
	 

	 
	 
	 

	 
	 
	 

	 
	 
	 

	 
	 
	 

	 
	 
	 

	 
	 
	 

A-1

EXHIBIT B

List of Personal Property

Specialized server room computer support equipment in Suite 125 owned by Seller
Security PC, monitor and router
Video surveillance system
Cabinetry, fixtures and appliances – UAMPS TI’s
Appliances – Agency Fusion TI’s
Cabinetry and fixtures – ChAIR TI’s
Cabinets – Smart Bomb TI’s
Cabinetry, fixtures and appliances – WECC TI’s
Generator nos. 1 2, and 3 manufactured by Onan, rated at 400-kW, 208/3-phase, diesel engine driven
Generator no. 4 was manufactured by Spectrum, rated at 135-kW, 208/3-phase, diesel engine driven
Generator no. 5 was manufactured by Cummins, rated at 400-kW, 208/3-phase, diesel engine driven

 

B-1

EXHIBIT C

List of Leases

	
			
	Tenant
	Document
	Date

	Accelas dba Agency Fusion
	Lease
	5/24/2011

	ASP Realty, Inc
	Lease
	11/15/1995

	 
	1st Amendment
	2/6/1996

	 
	2nd Amendment
	12/5/1996

	 
	3rd Amendment
	8/19/1997

	 
	4th Amendment
	2/11/1999

	 
	5th Amendment
	6/9/1999

	 
	6th Amendment
	1/25/2000

	 
	7th Amendment
	2/28/2005

	 
	8th Amendment
	12/30/2005

	 
	9th Amendment
	7/31/2010

	 
	10th Amendment
	11/14/2011

	CCI Network Services, LLC
	Lease
	12/31/2003

	 
	1st Amendment
	6/12/2006

	 
	2nd Amendment
	4/17/2009

	ChAIR Entertainment Group, LLC
	Lease
	Undated; Lease commenced 10/1/10

	Digitaria Interactive, Inc.
	Lease
	Undated; Lease commenced 11/10/11

	Eat Sleep Play, Inc.
	Lease
	Undated; Lease commenced 6/1/07

	 
	1st Amendment
	3/12/2008

	 
	2nd Amendment
	8/21/2009

	Freedom Fast Track, LLC
	Lease
	1/26/2012

	Grant Thornton LLP
	Lease
	10/10/2007

	 
	1st Amendment
	Undated; Extension commenced 8/1/10

	Internet Pipeline, Inc.
	Lease
	6/13/2011

	Jacobs Engineering Group Inc.
	Lease
	11/30/2005

	 
	Assignment & Assumption
	4/15/2009

	 
	1st Amendment
	5/18/2010

	Jviation, Inc.
	Lease
	2/22/2012

	Sharifi & Baron, LLC
	Lease
	12/22/2010

C-1

	
			
	 
	1st Amendment
	12/9/2011

	Smart Bomb Interactive, Inc.
	Lease
	9/29/2004

	 
	1st Amendment
	12/12/2007

	 
	2nd Amendment
	6/28/2010

	Utah Associated Municipal Power Systems
	Lease
	8/17/2010

	 
	 First Amendment
	3/19/2012

	Western Electricity Coordinating Council
	Lease
	12/15/2009

	Wisan, Smith, Racker & Prescott, LLP
	Lease
	3/25/2011

C-2

EXHIBIT D

Right of Way Contract

(Attached)

D-1

EXHIBIT E

List of Service Contracts

	
				
	Contractor
	Service
	Date
	Term

	Jani King
	Janitorial
	4/26/1995
	Month to Month

	Mountain Alarm Corporation
	Fire and Smoke Alarm
	4/18/1996
	Month to Month

	Thyssenkrupp Elevators (Dover)
	Elevator Maintenance
	3/18/1997
	Five Year

	Holbrook Service
	Small A/C Units for Servers
	11/17/2011
	Yearly

E-1

SCHEDULE 1

Improvement Work

(Attached)

E-1

SCHEDULE 2

Servient Estate

(Attached)

F-1PROMISSORY NOTE

$2,500,000Oklahoma
City, Oklahoma

April 17,
2012

FOR VALUE RECEIVED,
the undersigned, OSAGE EXPLORATION & DEVELOPMENT, INC., a Delaware corporation, (the “Borrower”), promises to pay
to the order of BOOTHBAY ROYALTY CO., an Oklahoma corporation (the “Lender”), at 6608 North Western Avenue, Oklahoma
City, OK 73116, or at such other place as may be designated in writing by Lender, the principal sum of TWO MILLION FIVE HUNDRED
THOUSAND DOLLARS ($2,500,000), or so much as may be disbursed hereunder together with interest thereon at the rate of eighteen
percent (18%) per annum.

This Note shall
be payable interest only commencing on April 30, 2012, and continuing on the last day of each month thereafter until April
17, 2014, when this Note shall be fully due and payable together with all accrued interest .

Advances and payments
hereunder may, at the option of the Lender, be recorded on this Note and shall be prima facie evidence of such advances, payments
and unpaid balance of this Note.

Eighteen months
after the date of this Note, Borrower may make prepayments of the principal of this Note. Prepayments shall be in the minimum amount
of $250,000 of principal together with all accrued interest.

Any sum not paid
on or before its due date will bear interest at the rate of twenty-four percent (24%) per annum. During the existence of any such
default, the Lender may apply payments received on any amount due hereunder or under the terms of any instrument now or hereafter
evidencing or securing this Note as the Lender may determine.

If a payment is
more than ten (10) days late, Borrower will be charged five percent (5%) of the unpaid portion of the payment or Twenty-five and
00/100 Dollars ($25.00), whichever is greater. This late charge shall be paid promptly but only once for each late payment.

The Borrower agrees
that if, and as often as, this Note is placed in the hands of an attorney for collection or to defend or enforce any of the Lender’s
rights hereunder or under any instrument securing payment of this Note, the Borrower will pay to the Lender its reasonable attorney’s
fees and all court costs and other expenses incurred in connection therewith, whether or not an action shall be instituted to enforce
this Note.

This Note is to
be construed according to the laws of the State of Oklahoma. This Note is given for an actual loan of money for business purposes
and not for personal, residential or agricultural purposes.

Payment of this
Note is secured by a First Mortgage (with Power of Sale), Security Agreement and Financing Statement (“Mortgage”),
and other collateral documents of even date covering real and personal property located in Logan County, Oklahoma. The Borrower
agrees that this Note may, at the Lender’s option, be enforced without first resorting to or exhausting any collateral securing
payment hereof and without first having recourse against any of the property covered by the Mortgage any other instrument securing
payment hereof, through foreclosure proceedings or otherwise. In the event the Lender elects to enforce this Note without first
resorting to or exhausting any such collateral security, the Borrower waives any right to set off, statutory or otherwise, of the
value of any such collateral security.

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The entire principal
sum of this Note and the accrued interest hereon, shall become and be immediately due and payable, at the option of Lender, without
notice:

1.                 
In the event of default in the payment of any amount due hereunder; or

2.                 
On the failure of Borrower to comply with any of the provisions, obligations or conditions of this Note, the Mortgage, or
any instrument securing the debt evidenced hereby; or

3.                 
If, by an order of a court of competent jurisdiction, a receiver, liquidator or trustee of the Maker, or of any property
of the Borrower, shall be appointed and shall not have been discharged in sixty (60) days; or

4.                 
If the Borrower shall file a petition in voluntary bankruptcy under any provision of any bankruptcy law, or shall consent
to the filing of any bankruptcy petition against it under any such law.

The failure of
the Lender to exercise any of the remedies or options set forth in this Note, or in any instrument securing payment hereof, upon
the occurrence of one or more events of default shall not constitute a waiver of the right to exercise the same or any other remedy
at any subsequent time in respect to the same or any other event of default. The acceptance by the Lender of any payment which
is less than the total of all amounts due and payable at the time of such payment shall not constitute a waiver of the right to
exercise any of the foregoing remedies or options at that time or any subsequent time, or nullify any prior exercise of such remedy
or option, without the express written consent of the Lender.

For purposes of
computing interest under this Note, payments of all or any portion of the principal sum owing under this Note will not be deemed
to have been made until such principal payments are received by the Lender in collected funds.

    	Page2

    	 	

    
 

The Borrower hereby
irrevocably: (i) submits and consents, and waives any objection to personal jurisdiction in the State of Oklahoma for the enforcement
of this Note, and (ii) waives any and all personal rights under the law of any state to object to jurisdiction for the purposes
of litigation to enforce this Note. The Borrower further consents to the venue of any state or federal court sitting in Oklahoma
County, Oklahoma in any action arising under this Note. Nothing contained herein, however, shall prevent the Lender from bringing
any action or exercising any rights against any security or against the Borrower personally, or against any property of the Borrower,
within any other state.

All agreements
between the Borrower and the Lender are expressly limited so that in no event whatsoever, whether by reason of disbursement of
the proceeds hereof or otherwise, shall the amount of interest or finance charge (as defined by the laws of the State of Oklahoma)
paid or agreed to be paid by the Borrower to the Lender hereof exceed the highest lawful contractual rate of interest or the maximum
finance charge permissible under the law which a court of competent jurisdiction, by final nonappealable order, determines to be
applicable hereto. If fulfillment of any agreement between the Borrower and the Lender, at the time the performance of such agreement
becomes due, involves exceeding such highest lawful contractual rate or such maximum permissible finance charge, then the obligation
to fulfill the same shall be reduced so that such obligation does not exceed such highest lawful contractual rate or maximum permissible
finance charge. If by any circumstance the Lender shall ever receive as interest or finance charge an amount which would exceed
the amount allowed by applicable law, the amount which may be deemed excessive shall be deemed applied to the principal of the
indebtedness evidenced hereby and not to interest. All interest and finance charges paid or agreed to be paid to the Lender shall
be prorated, allocated and spread throughout the full period of this Note.

The makers, endorsers,
sureties, guarantors and all persons who may become liable for all or any part of this obligation severally waive presentment for
payment, protest and notice of nonpayment. Said parties consent to any extension of time (whether one or more) of payment hereof,
release of all or any part of the security for the payment hereof and the release of any party liable for payment of this obligation.
Any such extension of time or release may be made at any time and from time to time without notice to any such party and without
discharging said party’s liability hereunder. Such parties further severally waive the right to trial by jury in any and
every action or proceeding of any kind or nature under or by reason of or relating in any way to this Note or any of the matters
referred to herein.

    	Page3

    	 	

    
 

IN WITNESS WHEREOF,
the Borrower has executed this instrument as of the date first above written.

OSAGE EXPLORATION
& DEVELOPMENT, INC.

By:

Kim Bradford

Chairman, President,
Chief Executive Office

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