Document:

2nd Amendment to Agreement of Sale and Purchase

 Exhibit 10.3 
  
 SECOND AMENDMENT 
 TO AGREEMENT OF SALE AND PURCHASE 
  
 THIS SECOND AMENDMENT TO
AGREEMENT OF SALE AND PURCHASE (this “Agreement”) is made and entered into as of August 16, 2004, by and between WACHOVIA BANK, NATIONAL ASSOCIATION, a national banking association, having an address at 225 Water Street, 8th Floor,
Jacksonville, Florida 32202 (“Seller”), and FIRST STATES INVESTORS 3300, LLC, a Delaware limited liability company, having an address c/o First States Group, L.P., at 1725 The Fairway, Jenkintown, Pennsylvania 19046
(“Purchaser”). 
  
 BACKGROUND 

 
 A. Seller and Purchaser are parties to an Agreement of Sale and Purchase dated as of May
10, 2004, as amended by a First Amendment to Agreement of Sale and Purchase dated as of June 2, 2004 (said agreement, as amended, the “Purchase Agreement”). Capitalized terms used herein and not otherwise defined shall have the
meanings ascribed thereto in the Purchase Agreement. 
  
 B. Seller and Purchaser
wish to modify the Purchase Agreement in the manner hereinafter set forth. 
  
 NOW, THEREFORE, in consideration of the covenants and mutual promises contained herein and other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), Seller and Purchaser, intending to be legally
bound hereby, agree as follows: 
  
 1. Seller Affiliates.
Notwithstanding the terms of the Purchase Agreement, the respective affiliates of Seller identified on Exhibit A annexed hereto (each, a “Seller Affiliate”, and collectively, the Seller Affiliates”) own the
Properties set forth opposite their names on Exhibit A annexed hereto (each, an “Affiliate Property”, and collectively, the “Affiliate Properties”). At the Closing, Seller shall cause each Seller Affiliate to
deliver (and where appropriate, acknowledge) to Purchaser (or to Assignee, to the extent applicable) the following documents (collectively, the “Affiliate Closing Documents”) for each Affiliate Property owned by such Seller
Affiliate: (i) a Deed in the form contemplated by Section 9(a)(i) of the Purchase Agreement; (ii) Transfer Tax Documents; (iii) an Intangible Property Assignment; (iv) an Assignment and Assumptions of Leases; (v) the tenant notice letters
contemplated by Section 9(a)(v) of the Purchase Agreement; and (vi) with respect to the Property set forth on Exhibit A which is located in South Carolina, the affidavit of residence contemplated by Section 9(a)(xxiii) of the
Purchase Agreement. Seller shall also cause each Seller Affiliate to deliver to Purchaser and to Assignee (i) a FIRPTA Affidavit in the form contemplated by Section 9(a)(vii) of the Purchase Agreement and (ii) the evidence of the
authorization, execution and delivery of the Affiliate Closing Documents contemplated by Section 9(a)(x) of the Purchase Agreement, including the incumbency certificate mentioned therein. 

 2. Guaranty of Seller. 
  
 (a) Seller hereby absolutely and unconditionally guarantees the performance of the obligations of the Seller Affiliates
under the Affiliate Closing Documents (collectively, the “Guaranteed Obligations”), subject to any limitations that would be applicable had the Affiliate Closing Documents been executed by Seller. Seller shall be jointly and
severally liable for the Guaranteed Obligations with the applicable Seller Affiliate, and Purchaser (or Assignee, if applicable) shall not be required to proceed against the applicable Seller Affiliate before Purchaser (or Assignee, if applicable)
proceeds against Seller. Seller has received, or will receive, direct or indirect benefit from the making of this guaranty. 
  
 (b) Seller hereby waives: (i) notice of acceptance hereof; (ii) grace, demand, presentment and protest with respect to the Guaranteed Obligations or to
any instrument, agreement or document evidencing or creating same; (iii) notice of grace, demand, presentment and protest; (iv) notice of non-payment or other defaults, of intention to accelerate and of acceleration of the Guaranteed Obligations;
and (v) any other notice regarding the Guaranteed Obligations. This is an absolute, unconditional, irrevocable and continuing guaranty of payment and performance and not of collection and is in no way conditioned upon any attempt to collect from the
applicable Seller Affiliate or upon any other event or contingency. Seller hereby expressly waives any right or claim to compel Purchaser (or Assignee, to the extent applicable) to proceed first against the applicable Seller Affiliate with respect
to any of the Guaranteed Obligations. The obligations of Seller hereunder shall not be reduced, impaired or in any way affected by receivership, insolvency, bankruptcy or other proceedings affecting a Seller Affiliate or its assets, even though
rendering all or any part of the Guaranteed Obligations void or unenforceable or uncollectible as against the Seller Affiliate. 
  
 (c) Notwithstanding the execution and delivery by the Seller Affiliates of the Affiliate Closing Documents, Seller shall remain obligated to perform those
obligations under the Purchase Agreement (other than the execution and delivery of the Affiliate Closing Documents) which pertain to the Affiliate Properties. 
  

(d) Nothing contained herein shall effect a waiver by Seller of any defense, claim, counterclaim or offset that may be available to the applicable
Seller Affiliate in connection with the Guaranteed Obligations and Seller shall have the right to assert any such defense, claim, counterclaim or offset in any claim or suit against Seller to the same extent as would the applicable Seller Affiliate
if such suit or claim were brought against the Seller Affiliate. 
  
 3. Ratification. The Purchase Agreement, as modified hereby, remains in full force and effect and is hereby ratified in all respects. 
  

 2 

			
	SELLER
	
	WACHOVIA BANK, NATIONAL ASSOCIATION
		
	By:	 	  

	 	 	Neil C. King, Senior Vice President/
	
	PURCHASER
	
	FIRST STATES INVESTORS 3300, LLC
		
	By:	 	  

	 	 	Glenn Blumenthal, Vice President

  

 3 

 EXHIBIT A 
  

			
	 SELLER AFFILIATE

	 	 PROPERTY

	Capital Finance Group	 	Norwalk Office, Norwalk, CT (PID 055923)
		
	Wachovia Corporation	 	 1) Pompano Beach Operation, Pompano Beach, FL (ND
 081273)
 2) Pompano Beach Money Center, Pompano Beach, FL (PID 081275)
 3) Vienna Tyson’s Corner, Vienna, VA (PID 506804)

		
	Industrial Valley Real Estate Company	 	Jenkintown Financial Center, Jenkintown, PA (PID 355334)
		
	Meridian Properties, Inc.	 	 1) Mt. Penn Building, Mt. Penn, PA (PID 036134)
 2)
Spring Ridge, Wyomissing, PA (PID 035592)

		
	Fifth and Market Corporation	 	Plaza, Philadelphia, PA (PID 035698)
		
	First National Properties, Inc.	 	 1) Bennettesville Main Financial Center, Bennettsville, SC
 (PID 506538)
 2) Columbia Browning Rd. Ops. Center/ Columbia
 Browning Road Annex, Columbia, SC (PID 506619/507744)

		
	Everen Capital Corporation	 	 1) Wheat Innsbrook Center I, Glen Allen, VA (PID 503578)
 2) Wheat Innsbrook Center II, Glen Allen, VA (PID 503580)

		
	1JL2004, LLC	 	Vanguard Center, Charlotte, NC (PID 507732)

  

 43rd Amendment to Agreement of Sale and Purchase

 Exhibit 10.4 
  
 THIRD AMENDMENT 
 TO AGREEMENT OF SALE AND PURCHASE 
  
 THIS THIRD AMENDMENT TO
AGREEMENT OF SALE AND PURCHASE (this “Agreement”) is made and entered into as of September 22, 2004, by and between WACHOVIA BANK, NATIONAL ASSOCIATION, a national banking association, having an address at 225 Water Street, 8th
Floor, Jacksonville, Florida 32202 (“Seller”), and FIRST STATES INVESTORS 3300, LLC, a Delaware limited liability company, having an address c/o First States Group, L.P., at 1725 The Fairway, Jenkintown, Pennsylvania 19046
(“Purchaser”). 
  
 BACKGROUND 

 
 A. Seller and Purchaser are parties to an Agreement of Sale and Purchase dated as of May
10, 2004 (the “Original Purchase Agreement”), as amended by a First Amendment to Agreement of Sale and Purchase dated as of June 2, 2004 (the “First Amendment”), as further amended by Second Amendment to Agreement
of Sale and Purchase (the “Second Amendment”). The Original Purchase Agreement, as amended by the First Amendment and the Second Amendment, is herein referred to as the Purchase Agreement. Capitalized terms used herein and not
otherwise defined shall have the meanings ascribed thereto in the Purchase Agreement. 
  
 B. Seller and Purchaser wish further to modify the Purchase Agreement in the manner hereinafter set forth. 
  
 C. Simultaneously with the execution and delivery hereof, Seller and Purchaser are proceeding to the Closing under the Purchase Agreement. 
  
 NOW, THEREFORE, in consideration of the covenants and mutual promises contained herein and
other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), Seller and Purchaser, intending to be legally bound hereby, agree as follows: 
  

	1.	Defined Terms. Capitalized terms used herein and not otherwise defined shall have the meanings ascribed thereto in the Purchase Agreement. 

  

	2.	Property Information Schedule. The Property Information Schedule is hereby modified as follows: 

  

	 	(a)	The PID Number and “Popular Name” set forth with respect to the Property presently identified as “Bristol Office”, Bristol, PA are hereby deleted and replaced
with “353360/353447” and “Bristol Office and Annex Buildings”, respectively. 

  

	 	(b)	The PID Number and “Popular Name” set forth with respect to the Property presently identified as “York Square”, York, PA are hereby deleted and replaced with
“035692/035652” and “York Square and Weiser Buildings”, respectively. 

  

	3.	Second Amendment. The Second Amendment is hereby modified by deleting Exhibit A annexed thereto and replacing the same with Exhibit A annexed hereto.

	4.	Purchase Price. The Allocated Purchase Prices for the Properties equal the amounts set forth on Exhibit B annexed hereto. 

  

	5.	Bristol Contract. Pursuant to an Agreement of Sale dated May 7, 2004 (the “Bristol Contract”) between Seller, as seller, and William J. Salerno, as purchaser
(“Salerno”), Seller agreed, subject to the provisions contained therein, to sell and convey to Salerno all of its right, title and interest in and to a portion of the Property identified on the Property Information Schedule (as
amended hereby) as “Bristol Office and Annex Buildings”, Bristol, PA. Simultaneously with the execution and delivery hereof, Seller shall assign to Purchaser all of its right, title and interest in and to the Bristol Contract (including
Seller’s interest in and to the deposit made by Salerno thereunder), and Purchaser shall assume all of Seller’s obligations under the Bristol Contract, pursuant to an instrument of assignment and assumption of sale agreement and otherwise
in accordance with the terms and conditions set forth in such instrument. 

  

	6.	Closing Adjustments/Expenses 

  

	 	(a)	Pursuant to Section 12(b)(i) of the Purchase Agreement, the parties agreed that any Rents received by either party following the Closing which are the property of the other party
shall be paid to such other party within five (5) Business Days following receipt thereof. Seller and Purchaser hereby agree that, in lieu of observing such provision, the parties shall reconcile Rents received after Closing, in the manner
stipulated by the Purchase Agreement, on or before November 30, 2004. Rents belonging to the other party received after such reconciliation shall be paid to the other party within five (5) Business Days following receipt thereof. The provisions of
this Section 6(a) shall survive Closing. 

  

	 	(b)	Pursuant to Section 12 of the Purchase Agreement, the parties agreed that Seller and Purchaser would at Closing apportion the following amounts prepaid or payable by Seller: (i)
amounts for all Utilities for which tenants under Leases are not responsible, (ii) fees for licenses and permits assigned to Purchaser and (iii) charges and payments under Service Contracts assigned to Purchaser. Seller and Purchaser hereby agree
that, in lieu of apportioning such amounts at Closing, Seller shall pay all such amounts for the month or other fiscal period in which the Closing occurs. On or before November 30, 2004, Purchaser shall remit to Seller the portion thereof for which
Purchaser is responsible, as determined in accordance with the provisions of Section 12 of the Purchase Agreement. The provisions of this Section 6(b) shall survive Closing. 

  

	 	(c)	Pursuant to Section 12(d)(ii)(x) of the Purchase Agreement, the parties agreed that Seller would remit to Purchaser at Closing, for each Property containing Leased Premises, fixed
rent and the Operating Expense Estimate Payment due for the balance of the month in which the Closing occurs. Purchaser hereby acknowledges that, in addition to such payment, Seller has remitted to Purchaser on the date hereof fixed rent and the
Operating Expense Estimate Payment for the month succeeding the current month. Consequently, Seller is hereby relieved of any obligation to pay such amounts under the Lease Agreements for the Properties containing Leased Premises.

	 	(d)	Pursuant to Section 12(d)(ii)(y) of the Purchase Agreement (and Section 2.3(a)(1) of the form of Lease Agreement annexed thereto), the parties agreed that Seller would remit to
Purchaser at Closing, for each Property containing Leased Premises, the Real Estate Tax Estimate Payment for such Property. Seller and Purchaser hereby agree that Seller shall not remit such amount to Purchaser at Closing. Instead, Seller shall
remit such amount to Purchaser on or before November 30, 2004. The provisions of this Section 6(d) shall survive Closing. 

  

	7.	Capital Work. 

  

	 	(a)	Purchaser acknowledges that, for purposes of calculating the Allocated Purchase Prices for the Properties, the definition of Capital Work was expanded to include certain work which
otherwise would not have been considered Capital Work under the Purchase Agreement. 

  

	 	(b)	Pursuant to the Purchase Agreement, if any Capital Work for a Property containing Leased Premises remained incomplete at Closing, Seller would at Closing (i) assign to Purchaser all
contracts for the performance of the incomplete Capital Work and (ii) provide Purchaser with the Estimated Capital Work Completion Amount (i.e., Seller’s reasonable estimate of the cost required to complete the same). Notwithstanding the
foregoing, the parties hereby agree that, to the extent any Capital Work constitutes improvements to premises demised to Seller under the Lease Agreements (as opposed to improvements affecting the structural elements of the Buildings, building
systems or premises other than those demised to Seller under the Lease Agreements), Seller shall not assign the contracts therefor to Purchaser at Closing. Consequently, the cost to complete the same has not been included in the calculation of the
Estimated Capital Work Completion Amount. 

  

	8.	Option Property. The term “OP Outside Date” as used in Section 28(A)(g) of the Purchase Agreement is hereby modified to mean the date which is two (2) years
after the Closing Date. The provisions of Section 28(A)(g) of the Purchase Agreement shall survive Closing. 

  

	9.	Removed Properties. Seller hereby terminates the Agreement as to the Properties set forth on Exhibit C annexed hereto. Consequently, such Properties constitute
“Removed Properties” under the Purchase Agreement. Seller has credited the Allocated Deposits and Due Diligence Costs for such Properties against the balance of the Purchase Price due at Closing. 

  

	10.	Assignment of Purchase Agreement. Pursuant to the Contract Assignment and Assumption contemplated by Section 29(d) of the Purchase Agreement, Purchaser assigned to Assignee
the right to acquire, inter alia, the Property identified on the Property Information Schedule as “Reflections One”, 400 South Australian Avenue, West Palm Beach, FL. Simultaneously with the execution and delivery hereof, Assignee
shall reassign to Purchaser the right to acquire such Property pursuant to an instrument of assignment and assumption of purchase agreement. 

  

	11.	Immediate Sale Properties. Exhibit D-1 to the Purchase Agreement (Right of First Offer Properties: Immediate Sale) is hereby supplemented by adding the following
Property thereto: Reflections Two, 450 S. Australian Avenue, West Palm Beach, FL. 

	12.	Agreement Governs. In the event of any inconsistency between the terms of this Agreement and the terms of the Purchase Agreement, the provisions of this Agreement shall
govern. 

  

	13.	Ratification. The Purchase Agreement, as modified hereby, remains in full force and effect and is hereby ratified in all respects. 

  

	14.	Execution in Counterparts. This Agreement may be executed in counterparts, each of which shall constitute an original but all of which, when taken together, shall constitute
but one and the same agreement. 

  

					
	SELLER
	
	WACHOVIA BANK, NATIONAL ASSOCIATION
		
	By:	 	  

	Name:	 	 
	Title:	 	 
	
	PURCHASER
	
	FIRST STATES INVESTORS 3300, LLC
		
	By:	 	  

	 	 	Glenn Blumenthal, Vice President

 EXHIBIT A 
  

			
	 SELLER AFFILIATE

	  	 PROPERTY

	The Capital Finance Group, Inc.	  	Norwalk Office, Norwalk, CT (PID 055923)
		
	Wachovia Corporation	  	 1) Pompano Beach Operations Pompano Beach, FL (PID 081273)
 2) Pompano Beach Money Center, Pompano Beach, FL (PID 081275)
 3) Vienna Tyson’s Corner, Vienna, VA (PID 506804)
 4) Portion of Cape Canaveral, Cape Canaveral, FL (PID 081105)
 5) Reflections
One, West Palm Beach, FL (PID 507766)
 6) Portion of WVOC - Four Story Operations, Roanoke, VA (PID 410201)
 7) Portion of Center Square, Jacksonville, FL (PID 081065)
 8) Portion of
Center Square Parking, Jacksonville, FL (PID 081870)
 9) Portion of Market Street Office, Harrisonburg, PA (PID 410222).

		
	Industrial Valley Real Estate Company	  	Jenkintown Financial Center, Jenkintown, PA (PID 355334)
		
	Meridian Properties, Inc.	  	 1) Mt. Penn Building, Mt. Penn, PA (PID 036134)
 2)
Spring Ridge, Wyomissing, PA (PID 035592)

		
	Fifth and Market Corporation	  	Plaza, Philadelphia, PA (PID 035698)
		
	First National Properties, Inc.	  	 1) Portion of Bennettsville Main Financial Center, Bennettsville, SC (PID 506538)
 2) Portion of Charleston 16 Broad, Charleston, SC (PID 506558)

		
	Everen Capital Corporation	  	 1) Wheat Innsbrook Center I, Glen Allen, VA (PID 503578)
 2) Wheat Innsbrook Center II, Glen Allen, VA (PID 503580)

		
	First Penco Realty, Inc.	  	Portion of Independence Hall, Philadelphia, PA (PID 035278)
		
	IJL2004, LLC	  	Vanguard Center, Charlotte, NC (PID 507732)
		
	ICSB Office Premises Corp.	  	New Paltz Office, New Paltz, NY (PID 317134)

 EXHIBIT B 
  
 (Allocated Purchase Prices) 

 EXHIBIT C 
  
 (Removed Properties) 
  

					
	 PID

	  	 POPULAR NAME

	  	 ADDRESS

	081065/081870	  	Center Square and Parking	  	100 N. Hogan St., Jacksonville, FL
			
	506278	  	Winston-Salem Patterson & Third Parking Lot	  	Patterson & Third, Winston-Salem, NC
			
	090073	  	Griffin Main	  	100 S. Hill St., Griffin, GA

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