Document:

Exhibit 10.13

MERS MIN: 8000101-0000003358-8

PROMISSORY
NOTE

	
  $24,000,000.00

  	
  August 28, 2006 

  New York, New York

  

 

FOR VALUE RECEIVED,  BALA POINTE OWNER LP, a Delaware limited partnership, as
maker, having its principal place of business at 111 Presidential Blvd., Bala
Cynwyd, Pennsylvania 19004 (“Borrower”), hereby unconditionally promises to pay
to the order of BEAR STEARNS COMMERCIAL MORTGAGE, INC.,
a New York corporation, as payee, having an address at 383 Madison Avenue, New
York, New York 10179 (“Lender”), or at such other place as the holder hereof
may from time to time designate in writing, the principal sum of TWENTY FOUR MILLION AND 00/100 DOLLARS ($24,000,000.00), in
lawful money of the United States of America with interest thereon to be
computed from the date of this Note at the Applicable Interest Rate (as
hereinafter defined):

ARTICLE 1:CERTAIN DEFINED TERMS

As used herein, the following terms shall have the
meanings set forth below:

(1)           “Applicable
Interest Rate” means during the Initial Term, the Initial Rate, and during the
Extended Term, the Extended Rate.

(2)           “Extended
Rate” means two hundred (200) basis points in excess of the greater of (i) the
Initial Rate, and (ii) the Ten (10) Year Treasury Yield, but in no event shall
the Extended Rate exceed five hundred (500) basis points in excess of the
Initial Rate. 

(3)           “Extended
Term” means the period from and including the Optional Prepayment Date through
and including the Maturity Date. 

(4)           “Ten
(10) Year Treasury Yield” means the yield, calculated by linear interpolation
(rounded to three decimal places), of the yields of United States Treasury
Constant Maturities with the terms (one longer and one shorter) most nearly
approximating those of U.S. Obligations having maturities as close as possible
to the tenth (10th)
anniversary of the Optional Prepayment Date, as determined by Lender on the
basis of Federal Reserve Statistical Release H.15-Selected Interest Rates under
the heading U.S. Governmental Security/Treasury Constant Maturities, or other
recognized source of financial market information selected by the Lender on the
last Business Day of the week immediately prior to the Optional Prepayment
Date. 

(5)           “Initial
Rate” means 5.891% per annum. 

(6)           “Initial
Rate Interest” means, with respect to any Monthly Payment Date (including any
Monthly Payment Date during the Extended Term), interest which has accrued on
the principal sum of this Note during the preceding calendar month at the
Initial Rate. 

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(7)           “Initial
Term” means the period from and after the date hereof through (but not
including) the Optional Prepayment Date. 

(8)           “Loan”
means the loan evidenced by this Note. 

(9)           “Loan
Documents” means this Note, the Security Instrument, and any other documents or
instruments which now or shall hereafter wholly or partially secure or
guarantee payment of this Note or which have otherwise been executed by
Borrower and/or any other person in connection with the Loan. 

(10)         “Maturity
Date” means August 31, 2036. 

(11)         “Monthly
Payment” means a payment of the interest accrued on the outstanding principal
balance at the Initial Interest Rate for the immediately preceding calendar
month. 

(12)         “Monthly
Payment Date” means the first day of each calendar month prior to the Maturity
Date commencing on (i) the first day of the next succeeding calendar month
after the date hereof if this Note is dated as of the first day of a month; or
(ii) the first day of the second succeeding calendar month after the date
hereof if this Note is dated as of a date other than the first day of a month. 

(13)         “Optional
Prepayment Date” means August 31, 2016. 

(14)         Intentionally
omitted. 

(15)         “Security
Instrument” means the Open End Mortgage and Security Agreement dated the date
hereof given by Borrower to Lender as security for the Debt (hereafter defined)
and other obligations covering the fee estate of Borrower in certain premises
located in Bala Cynwyd, Pennsylvania and other property, as more particularly
described therein (collectively, the “Property”).

(16)         “U.S.
Obligations” means obligations or securities not subject to prepayment, call or
early redemption which are direct obligations of, or obligations fully
guaranteed as to timely payment by, the United States of America or any agency
or instrumentality thereof, the obligations of which are backed by the full
faith and credit of the United States of America.

ARTICLE 2:PAYMENT TERMS

(a)           Unless
this Note is dated the first day of the month, a payment on the date hereof on
account of all interest that will accrue on the principal amount of this Note
from and after the date hereof through and including the last day of the
present month (the “Month-End Date”);

(b)           On each Monthly Payment Date,
Borrower shall pay the Monthly Payment with each Monthly Payment to be applied
to the payment of the Initial Rate Interest;

(c)           On each Monthly Payment Date following
the Optional Prepayment Date, in addition to the Monthly Payment, Borrower
shall pay to Lender any Excess Cash (as defined in the Cash Management Agreement)
for the calendar month preceding such Monthly Payment 

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Date.  Each such
payment of Excess Cash shall be applied (i) first, to the outstanding principal
balance of this Note until the principal amount of this Note has been paid in
full, and (ii) next, to the payment of the difference, if any, between (y) the
sum of (i) interest accrued and unpaid on the principal amount of this Note at
the Extended Rate and (ii) interest on such accrued and unpaid interest at the
Extended Rate, and (z) the Initial Rate Interest paid on such Monthly Payment
Date;

(d)           the balance of the principal sum and
all interest thereon shall be due and payable on the Maturity Date.

Interest on the principal
sum of this Note shall be calculated by multiplying the actual number of days
elapsed in the period for which interest is being calculated by a daily rate
based on a 360-day year.

ARTICLE 3:DEFAULT AND ACCELERATION

(a)           The whole of the
principal sum of this Note, (b) interest, default interest, late charges and
other sums, as provided in this Note, the Security Instrument or the Other
Security Documents (hereinafter defined), (c) all other monies agreed or
provided to be paid by Borrower in this Note, the Security Instrument or the
Other Security Documents, (d) all sums advanced pursuant to the Security
Instrument to protect and preserve the Property (defined below) and the lien
and the security interest created thereby, and (e) all sums advanced and costs
and expenses incurred by Lender in connection with the Debt (defined below) or
any part thereof, any renewal, extension, or change of or substitution for the
Debt or any part thereof, or the acquisition or perfection of the security
therefor, whether made or incurred at the request of Borrower or Lender (all
the sums referred to in (a) through (e) above shall collectively be referred to
as the “Debt”) shall without notice become immediately due and payable at the
option of Lender if any payment required in this Note is not paid within five
(5) days of the date the same is due or on the Maturity Date or on the
happening of any other default, after the expiration of any applicable notice
and grace periods, herein or under the terms of the Security Instrument or any
of the Other Security Documents (collectively, an “Event of Default”).

ARTICLE 4:DEFAULT INTEREST

Borrower does hereby agree that upon the occurrence of
an Event of Default, Lender shall be entitled to receive and Borrower shall pay
interest on the entire unpaid principal sum at a rate equal to the lesser of
(a) five percent (5%) plus the Applicable Interest Rate and (b) the maximum
interest rate which Borrower may by law pay (the “Default Rate”).  The Default Rate shall be computed from the
occurrence of the Event of Default until the earlier of the date upon which the
Event of Default is cured or the date upon which the Debt is paid in full.  Interest calculated at the Default Rate shall
be added to the Debt, and shall be deemed secured by the Security Instrument.  This clause, however, shall not be construed
as an agreement or privilege to extend the date of the payment of the Debt, nor
as a waiver of any other right or remedy accruing to Lender by reason of the
occurrence of any Event of Default.

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ARTICLE 5:PREPAYMENT

Borrower may, provided it has given Lender prior
written notice in accordance with the terms of this Note, prepay the unpaid
principal balance of this Note in whole, but not in part, by paying, together
with the amount to be prepaid, (a) interest accrued and unpaid on the portion
of the principal balance of this Note being prepaid to and including the date
of prepayment, (b) unless prepayment is tendered on the first day of a calendar
month, an amount equal to the interest that would have accrued on the amount
being prepaid after the date of prepayment through and including the last day
of the calendar month in which the prepayment occurs had the prepayment not
been made (which amount shall constitute additional consideration for the
prepayment), (c) all other sums then due under this Note, the Security Instrument
and the Other Security Documents, and, if the date on which prepayment is made
is before the Monthly Payment Date that is three (3) calendar months before the
Optional Prepayment Date, (d) a prepayment consideration (the “Prepayment
Consideration”) equal to the greater of (i) the Target Yield Maintenance Amount
(as defined below), and (ii) the excess, if any, of (A) the sum of the present
values of all then-scheduled payments of principal and interest under this Note
including, but not limited to, principal and interest on the Optional
Prepayment Date (with each such payment discounted to its present value at the
date of prepayment at the rate which, when compounded monthly, is equivalent to
the Prepayment Rate (hereinafter defined)), over (B) the principal amount of
this Note being prepaid.

The term “Prepayment Rate” means the bond equivalent
yield (in the secondary market) on the United States Treasury Security that as
of the Prepayment Rate Determination Date (hereinafter defined) has a remaining
term to maturity closest to, but not exceeding, the remaining term to the Optional
Prepayment Date, as most recently published in the “Treasury Bonds, Notes and
Bills” section in The Wall Street Journal as of the date of the related tender
of payment.  If more than one issue of
United States Treasury Securities has the remaining term to the Optional
Prepayment Date referred to above, the “Prepayment Rate” shall be the yield on
the United States Treasury Security most recently issued as of such date.  The term “Prepayment Rate Determination Date”
shall mean the date which is five (5) Business Days prior to the prepayment
date.  The rate so published shall
control absent manifest error.  As used
herein, “Business Day” shall mean any day other than Saturday, Sunday or any
other day on which banks are required or authorized to close in New York, New
York.  The term “Target Yield Maintenance
Amount” shall mean, prior to the date that is two (2) years subsequent to the
date of securitization of the Loan, two percent (2%) of the principal balance
of the Note being prepaid, on and/or after such date, one percent (1%) of the
principal balance of the Note being prepaid.

Lender shall notify Borrower of the amount and the
basis of determination of the required Prepayment Consideration.  If the publication of the Prepayment Rate in
The Wall Street Journal is discontinued, Lender shall determine the Prepayment
Rate on the basis of “Statistical Release H.15 (519), Selected Interest Rates,”
or any successor publication, published by the Board of Governors of the
Federal Reserve System, or on the basis of such other publication or
statistical guide as Lender may reasonably select.

Borrower’s right to prepay any portion of the
principal balance of this Note shall be subject to (i) Borrower’s submission of
a notice to Lender setting forth the amount to be prepaid and the projected
date of prepayment, which date shall be no less than thirty (30) or more than
sixty (60) days from the date of such notice, and (ii) Borrower’s actual
payment to Lender of the amount to be prepaid as set forth in such notice on
the projected date set forth in such notice or 

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any day following such
projected date occurring in the same calendar month as such projected date.  Lender agrees that Borrower may revoke its
prepayment notice, provided Borrower pays to Lender all of Lender’s (and any
servicer’s acting on Lender’s behalf) reasonable out of pocket costs and
expenses incurred in connection with the processing of such prepayment notice.

Following an Event of Default and acceleration of this
Note, if Borrower or anyone on Borrower’s behalf makes a tender of payment of
the amount necessary to satisfy the indebtedness evidenced by this Note and
secured by the Security Instrument at any time prior to foreclosure sale
(including, but not limited to, sale under power of sale under the Security
Instrument), or during any redemption period after foreclosure, (i) the tender
of payment shall constitute an evasion of Borrower’s obligation to pay any
Prepayment Consideration, if any, due under this Note and such payment shall,
therefore, to the maximum extent permitted by law, include a premium equal to
the Prepayment Consideration that would have been payable on the date of such
tender had this Note not been so accelerated, or (ii) if at the time of such
tender a prepayment of the principal amount of this Note would have been
prohibited under this Note had the principal amount of this Note not been so
accelerated, the tender of payment shall constitute an evasion of such prepayment
prohibition and shall, therefore, to the maximum extent permitted by law,
include an amount equal to the greater of (i) three percent (3%) of the then
principal amount of this Note and (ii) an amount equal to the excess of (A) the
sum of the present values of a series of payments payable at the times and in
the amounts equal to the payments of principal and interest (including, but not
limited to the principal and interest payable on the Optional Prepayment Date)
which would have been scheduled to be payable after the date of such tender
under this Note had this Note not been accelerated, with each such payment
discounted to its present value at the date of such tender at the rate which
when compounded monthly is equivalent to the Prepayment Rate, over (B) the then
principal amount of this Note.

Notwithstanding anything to the contrary herein,
provided no Event of Default exists under this Note, the Security Instrument or
the Other Security Documents, in the event of any prepayment of the Debt pursuant
to the terms of Sections 4.4 of the Security Instrument, no Prepayment
Consideration or premium shall be due in connection therewith, but Borrower
shall be responsible for all other amounts due under this Note, the Security
Instrument and the Other Security Documents.

ARTICLE 6:SECURITY

This Note is secured by the Security Instrument and
the Other Security Documents.  The term “Security
Instrument” as used in this Note shall mean the Open End Mortgage and Security
Agreement, between Lender and Borrower covering the fee simple estate of
Borrower in the Property and intended to be duly recorded in said County.  The term “Other Security Documents” as used
in this Note shall mean all and any of the documents other than this Note or
the Security Instrument now or hereafter executed by Borrower and/or others and
by or in favor of Lender, which wholly or partially secure or guarantee payment
of this Note.

All of the terms, covenants and conditions contained
in the Security Instrument and the Other Security Documents are hereby made
part of this Note to the same extent and with the same force as if they were
fully set forth herein.  All capitalized
terms not defined herein shall 

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have the meanings
ascribed to them in the Security Instrument and the Other Security Documents.

ARTICLE 7:SAVINGS CLAUSE

This Note is subject to the express condition that at
no time shall Borrower be obligated or required to pay interest on the
principal balance due hereunder at a rate which could subject Lender to either
civil or criminal liability as a result of being in excess of the maximum
interest rate which Borrower is permitted by applicable law to contract or
agree to pay.  If by the terms of this
Note, Borrower is at any time required or obligated to pay interest on the
principal balance due hereunder at a rate in excess of such maximum rate, the
Applicable Interest Rate or the Default Rate, as the case may be, shall be
deemed to be immediately reduced to such maximum rate and all previous payments
in excess of the maximum rate shall be deemed to have been payments in
reduction of principal and not on account of the interest due hereunder.  All sums paid or agreed to be paid to Lender
for the use, forbearance, or detention of the Debt, shall, to the extent
permitted by applicable law, be amortized, prorated, allocated, and spread
throughout the full stated term of the Note until payment in full so that the
rate or amount of interest on account of the Debt does not exceed the maximum
lawful rate of interest from time to time in effect and applicable to the Debt
for so long as the Debt is outstanding.

ARTICLE 8:LATE CHARGE

If any sum payable under this Note is not paid prior
to the fifth (5th) day after the date on which it is due, Borrower shall pay to
Lender upon demand an amount equal to the lesser of five percent (5%) of the
unpaid sum or the maximum amount permitted by applicable law to defray the
expenses incurred by Lender in handling and processing the delinquent payment
and to compensate Lender for the loss of the use of the delinquent payment and
the amount shall be secured by the Security Instrument and the Other Security
Documents.

ARTICLE 9:NO ORAL CHANGE

This Note may not be modified, amended, waived,
extended, changed, discharged or terminated orally or by any act or failure to
act on the part of Borrower or Lender, but only by an agreement in writing
signed by the party against whom enforcement of any modification, amendment,
waiver, extension, change, discharge or termination is sought.

ARTICLE 10:JOINT AND SEVERAL LIABILITY

If Borrower consists of more than one person or party,
the obligations and liabilities of each person or party shall be joint and
several.

ARTICLE 11:WAIVERS

Borrower and all others who may become liable for the
payment of all or any part of the Debt do hereby severally waive presentment
and demand for payment, notice of dishonor, protest and notice of protest and
non-payment and all other notices of any kind. 
No release of any security for the Debt or extension of time for payment
of this Note or any installment hereof, and no alteration, amendment or waiver
of any provision of this Note, the Security Instrument or 

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the Other Security
Documents made by agreement between Lender or any other person or party shall
release, modify, amend, waive, extend, change, discharge, terminate or affect
the liability of Borrower, and any other person or entity who may become liable
for the payment of all or any part of the Debt, under this Note, the Security
Instrument or the Other Security Documents. 
No notice to or demand on Borrower shall be deemed to be a waiver of the
obligation of Borrower or of the right of Lender to take further action without
further notice or demand as provided for in this Note, the Security Instrument
or the Other Security Documents.  If Borrower
is a partnership, the agreements herein contained shall remain in force and
applicable, notwithstanding any changes in the individuals comprising the
partnership.  If Borrower is a
corporation, the agreements contained herein shall remain in full force and
applicable notwithstanding any changes in the shareholders comprising, or the
officers and directors relating to, the corporation.  If Borrower is a limited liability company,
the agreements contained herein shall remain in full force and applicable
notwithstanding any changes in the members comprising, or the managers,
officers or agents relating to, the limited liability company.  The term “Borrower”, as used herein, shall
include any alternate or successor partnership, corporation, limited liability
company or other entity or person to the Borrower named herein, but any
predecessor partnership (and their partners), corporation, limited liability
company, other entity or person shall not thereby be released from any
liability.  Nothing in this Article 11
shall be construed as a consent to, or a waiver of, any prohibition or
restriction on transfers of interests in such partnership, corporation or
limited liability company which may be set forth in the Security Instrument or
any Other Security Document.

ARTICLE 12:TRANSFER

Lender may, at any time, sell, transfer or assign this
Note, the Security Instrument and the Other Security Documents, and any or all
servicing rights with respect thereto, or grant participations therein or issue
mortgage passthrough certificates or other securities evidencing a beneficial
interest in a rated or unrated public offering or private placement (the “Securities”).  Lender may forward to each purchaser,
transferee, assignee, servicer, participant, investor in such Securities or any
Rating Agency rating such Securities (collectively, the “Investor”) and each
prospective Investor, all documents and information which Lender now has or may
hereafter acquire relating to the Debt and to Borrower, any guarantor and the
Property, whether furnished by Borrower, any guarantor or otherwise, as Lender
determines necessary or desirable. 
Borrower and any guarantor agree, at no material cost to Borrower, to
cooperate with Lender in connection with any transfer made or any Securities
created pursuant to the Security Instrument, including, without limitation, the
delivery of an estoppel certificate in accordance therewith, and such other
documents as may be reasonably requested by Lender.  In connection therewith, Borrower shall not
be requested to attend any meetings.  Borrower
shall also furnish and Borrower and any guarantor consent to Lender furnishing
to such Investors or such prospective Investors any and all information
concerning the Property, the Leases, the financial condition of Borrower and
any guarantor as may be requested by Lender, any Investor or any prospective
Investor in connection with any sale, transfer or participation interest.  Lender may retain or assign responsibility
for servicing the Loan, including this Note, the Security Instrument and the
Other Security Documents, or may delegate some or all of such responsibility
and/or obligations to a servicer including, but not limited to, any subservicer
or master servicer.  Lender may make such
assignment or delegation on behalf of the Investors if this Note is sold or the
Security 

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Instrument the Other
Security Documents are assigned.  All
references to Lender herein shall refer to and include any such servicer to the
extent applicable.

ARTICLE 13:WAIVER OF TRIAL BY JURY

BORROWER AND LENDER EACH HEREBY WAIVE, TO THE
FULLEST EXTENT PERMITTED BY LAW, THE RIGHT TO TRIAL BY JURY IN ANY ACTION,
PROCEEDING OR COUNTERCLAIM, WHETHER IN CONTRACT, TORT OR OTHERWISE, RELATING
DIRECTLY OR INDIRECTLY TO THE LOAN EVIDENCED BY THIS NOTE, THE APPLICATION FOR
THE LOAN EVIDENCED BY THIS NOTE, THIS NOTE, THE SECURITY INSTRUMENT OR THE
OTHER SECURITY DOCUMENTS OR ANY ACTS OR OMISSIONS OF LENDER, ITS OFFICERS,
EMPLOYEES, DIRECTORS OR AGENTS IN CONNECTION THEREWITH.

ARTICLE 14:EXCULPATION

Except as otherwise provided herein, in the Security
Instrument or in the Other Security Documents, Lender shall not enforce the
liability and obligation of Borrower, to perform and observe the obligations
contained in this Note, the Security Instrument or the Other Security Documents
by any action or proceeding wherein a money judgment shall be sought against
Borrower or any partner or member of Borrower, except that Lender may bring a
foreclosure action, an action for specific performance or any other appropriate
action or proceeding to enable Lender to enforce and realize upon this Note,
the Security Instrument, the Other Security Documents, and the interests in the
Property; and any other collateral given to Lender pursuant to the Security
Instrument and the Other Security Documents; provided, however, that, except as
specifically provided herein, any judgment in any such action or proceeding
shall be enforceable against Borrower or any general partner or member of
Borrower only to the extent of Borrower’s interest in the Property and in any
other collateral given to Lender, and Lender, by accepting this Note, the
Security Instrument and the Other Security Documents, agrees that it shall not
sue for, seek or demand any deficiency judgment against Borrower or any general
partner or member of Borrower, in any such action or proceeding, under or by
reason of or in connection with this Note, the Security Instrument or the Other
Security Documents.  The provisions of
this paragraph shall not, however, (i) constitute a waiver, release or
impairment of any obligation evidenced or secured by the Security Instrument or
the Other Security Documents; (ii) impair the right of Lender to name Borrower
as a party defendant in any action or suit for foreclosure and sale under the Security
Instrument; (iii) affect the validity or enforceability of any guaranty made in
connection with this Note, the Security Instrument or the Other Security
Documents; (iv) impair the right of Lender to obtain the appointment of a
receiver; (v) impair the enforcement of any assignment; or (vi) constitute a
waiver of the right of Lender to enforce the liability and obligation of
Borrower or any general partner of Borrower, by money judgment or otherwise, to
the extent of any loss, damage, cost, expense, liability, claim or other
obligation incurred by Lender (including attorneys’ fees and costs reasonably
incurred) arising out of or in connection with the following;

(1)           fraud or intentional
misrepresentation by Borrower in connection with this Note, the Security
Instrument or the Other Security Documents;

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(2)           the willful
misconduct of Borrower;

(3)           material physical
waste of the Property;

(4)           the breach of
provisions in this Note, the Security Instrument or the Other Security
Documents concerning Environmental Laws and Hazardous Substances and any
indemnification of Lender with respect thereto in any document;

(5)           the removal or
disposal of any portion of the Property after default under this Note, the
Security Instrument or the Other Security Documents;

(6)           the misappropriation
or conversion by Borrower of (i) any insurance proceeds paid by reason of any
loss, damage or destruction to the Property, (ii) any awards or other amounts
received in connection with the condemnation of all or a portion of the Property,
or (iii) any Rents following default under this Note, the Security Instrument
or the Other Security Documents;

(7)           failure to pay Taxes
(provided that the liability of Borrower shall be only for amounts in excess of
the amount held by Lender in escrow for the payment of Taxes), assessments,
charges for labor or materials or other charges that can create liens on any
portion of the Property; and

(8)           any security
deposits collected with respect to the Property which are not delivered to
Lender upon a foreclosure of the Property or action in lieu thereof, except to
the extent any such security deposits were applied in accordance with the terms
and conditions of any of the Leases prior to the occurrence of the Event of
Default that gave rise to such foreclosure or action in lieu thereof.

Notwithstanding anything to the contrary in this Note,
the Security Instrument or the Other Security Documents (i) the Debt shall be
fully recourse to Borrower; and (ii) Lender shall not be deemed to have waived
any right which Lender may have under Section 506(a), 506(b), 1111(b) or any
other provisions of the U.S. Bankruptcy Code to file a claim for the full
amount of the Debt or to require that all collateral shall continue to secure
all of the Debt owing to Lender in accordance with this Note, the Security
Instrument or the Other Security Documents, in the event that:  (A) the first full Monthly Payment is not
paid when due; (B) Borrower fails to permit on-site inspections of the
Property, fails to provide financial information, or fails to comply with the
terms of Section 4.3 of the Security Instrument; (C) Borrower fails to obtain
Lender’s prior written consent to any subordinate financing or other voluntary
lien encumbering the Property; (D) Borrower fails to obtain Lender’s prior
written consent to any assignment, transfer, or conveyance of the Property or
any interest therein as required by the Security Instrument.

ARTICLE 15:AUTHORITY

Borrower (and the undersigned representative of
Borrower, if any) represents that Borrower has full power, authority and legal
right to execute and deliver this Note, the Security Instrument and the Other
Security Documents and that this Note, the Security Instrument and the Other
Security Documents constitute valid and binding obligations of Borrower.

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ARTICLE 16:APPLICABLE LAW

This Note shall be deemed to be a contract entered
into pursuant to the laws of the Commonwealth of Pennsylvania and shall in all
respects be governed, construed, applied and enforced in accordance with the
laws of the Commonwealth of Pennsylvania.

ARTICLE 17:INTENTIONALLY OMITTED

 

ARTICLE 18:COUNSEL FEES

In the event that it should become necessary to employ
counsel to collect the Debt or to protect or foreclose the security therefor,
Borrower also agrees to pay all reasonable fees and expenses of Lender,
including, without limitation, reasonable attorney’s fees for the services of
such counsel whether or not suit be brought.

ARTICLE 19:NOTICES

All notices or other written communications to
Borrower or Lender hereunder shall be deemed to have been properly given (i)
upon delivery, if delivered in person with receipt acknowledged by the
recipient thereof, (ii) one (1) Business Day (defined below) after having been
deposited for overnight delivery with any reputable overnight courier service,
or (iii) three (3) Business Days after having been deposited in any post office
or mail depository regularly maintained by the U.S. Postal Service and sent by
registered or certified mail, postage prepaid, return receipt requested,
addressed to Borrower or Lender at their addresses set forth in the Security
Instrument or addressed as such party may from time to time designate by
written notice to the other parties. 
Either party by notice to the other may designate additional or different
addresses for subsequent notices or communications.

ARTICLE 20:MISCELLANEOUS

(1)           Wherever pursuant to
this Note (i) Lender exercises any right given to it to approve or disapprove,
(ii) any arrangement or term is to be satisfactory to Lender, or (iii) any
other decision or determination is to be made by Lender, the decision of Lender
to approve or disapprove, all decisions that arrangements or terms are
satisfactory or not satisfactory and all other decisions and determinations
made by Lender, shall be in the sole and absolute discretion of Lender and
shall be final and conclusive, except as may be otherwise expressly and
specifically provided herein.

(2)           Wherever pursuant to
this Note it is provided that Borrower pay any costs and expenses, such costs
and expenses shall include, but not be limited to, reasonable legal fees and
disbursements of Lender.

(3)           Whenever used, the
singular number shall include the plural, the plural number shall include the
singular, and the words “Lender” and “Borrower” shall include their respective
successors, assigns, heirs, executors and administrators.

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IN WITNESS WHEREOF, Borrower has duly executed this
Note as of the day and year first above written.

	
  

  	
  BORROWER

  
	
   

  	
   

  
	
   

  	
  BALA POINTE OWNER LP, a Delaware
  limited

  partnership

  
	
   

  	
   

  
	
   

  	
  By:

  	
  BALA POINTE GP, LLC, a Delaware limited 

  liability company, its general partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
   

  

 

 

ACKNOWLEDGMENT

(to be attached)

 12Exhibit
10.14

MANAGEMENT AND LEASING AGREEMENT

This
MANAGEMENT AND LEASING AGREEMENT (“Agreement”)
is effective as of the 28th day of August, 2006, and is made by and between
BALA POINTE OWNER LP (“Owner”),
and AMERIMAR BALA POINTE MANAGEMENT CO., INC. (“Agent”).

W I  T
N  E  S  S  E  T  H

WHEREAS,
Owner is wholly-owned, directly and indirectly by Div Cap Amerimar Bala Pointe
1 General Partnership, a Delaware general partnership (“Div Cap
Amerimar”);

WHEREAS,
Div Cap Amerimar is governed by and pursuant to the terms of that certain
Partnership Agreement dated as of August 
28th, 2006 (as amended from time to time, the “Master
Agreement”);

WHEREAS,
Owner is the owner of that certain real property and improvements thereon located at 111 Presidential Boulevard, Bala Cynwyd,
Lower Merion Township, County of Montgomery
and Commonwealth of Pennsylvania, (which real property is more particularly
described on Exhibit “A” attached hereto and made a part hereof and is
hereinafter referred to as the “Property”);
and

WHEREAS,
Owner has engaged Agent to operate, lease and manage the Property on behalf of
Owner and Agent has agreed to operate, lease and manage the Property on the
terms set forth herein.

NOW,
THEREFORE, in consideration of the mutual covenants and agreements set forth
herein, and for Ten Dollars ($10.00) and other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the parties hereto
agree as follows:

ARTICLE I

APPOINTMENT AND AUTHORITY OF THE
AGENT

1.1           Owner appoints Agent, effective the
date hereof, as the manager and leasing agent for the Property, and authorizes
Agent, subject to the approval rights of Owner herein set forth, to exercise
such power with respect to the Property as may be necessary for the performance
of Agent’s obligations as the manager of the Property in accordance with this
Agreement and Agent accepts such appointment on the terms and conditions herein
set forth and agrees to perform all of the leasing, management and operational
services provided herein.

1.2           Owner and Agent acknowledge that
Agent is an independent contractor for all

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services
required to be performed under this Agreement. 
Any and all persons who furnish services under this Agreement, whether
or not employed by Agent prior to the effective date hereof, are exclusively
employees, subcontractors and/or non-affiliated third parties employed by Agent
and are not employees of Owner.  All
liabilities that may arise as a result of Agent’s status as an employer shall
be borne exclusively by Agent including without limitation, liability relating
to documents to be filed with respect to the Federal Insurance Contribution Act
and the Federal Unemployment Tax Act or any similar federal or state
legislation.

ARTICLE II

AGENT’S SERVICES

2.1           Agent
will render and supervise the control and performance of all services as are
customarily provided by operators of office buildings in the geographic area
where the Property is located.  Agent
will operate the Property in a manner consistent with operating practices for
office buildings of a comparable class and standing in the geographic area
where the Property is located subject to the terms of this Agreement.

2.2           Agent shall have the following duties
and obligations as Agent without limiting any other provisions of this
Agreement including Owner’s prior approval where required:

2.2.1        To
supervise, direct, and control the management and operation of the
Property.  Agent will keep Owner advised
as to all major policy matters affecting the Property and shall make no major
policy change not reflected in the Approved Budget (hereinafter defined)
without the prior written approval of Owner.

2.2.2        Subject to the provisions of the
Master Agreement and the Approved Business Plan 
(as hereinafter defined), to the extent applicable, and to the extent,
and only to the extent, provided for or contemplated in an Approved Budget, to negotiate and to
enter into, without the prior written consent of Owner, contracts for elevator
maintenance, fire protection and mechanical and HVAC maintenance services,
electricity, gas, fuel, water, telephone, trash or rubbish hauling, janitorial
services, window cleaning and such other maintenance services for the Property
as Agent shall deem necessary or advisable.  
Agent shall deal at arm’s length with all third parties and act in Owner’s
interest at all times.  Copies of
such contracts shall be delivered to Owner by Agent promptly following
execution thereof.  Unless such
requirements are waived in writing by Owner, all contracts shall comply with
the following: (i) be terminable by Owner on thirty (30) days or less notice;
(ii) require the vendor to maintain appropriate insurance and provide
indemnification to Owner where appropriate; (iii) have a stated term of not
more than one (1) year; (iv) not be recordable or recorded by Agent; and (v)
must be in Owner’s name. Agent shall not enter into any contract with an
affiliate of Agent without the approval of Owner, which approval shall not be
unreasonably withheld provided that any such contract is entered into in the
ordinary course of business and on terms which are no less favorable to Owner
than would be obtained in a comparable arm’s length transaction with an
unrelated third party.

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2.2.3        To make all necessary or appropriate
repairs to the Property, in accordance with the standards for similar office
buildings, including but not limited to, all repairs, cleaning, painting,
decoration and alterations (including electrical, plumbing, carpentry, masonry)
reasonably necessary or desirable for the maintenance and repair of all
portions of the Property which are intended for the use of or are used by
tenants and invitees from time to time, to the extent provided in the Approved
Budget.  The Approved Budget constitutes
an authorization for Agent to expend money for capital improvements or repairs
for the Property in accordance with such Approved Budget (excluding tenant
improvements pursuant to approved Leases). 
With respect to the purchase of major capital improvements or unbudgeted
projects, Agent shall obtain written approval of Owner prior to incurring these
expenses, and Owner may arrange to purchase and install the same itself or may
authorize Agent to do so subject to prescribed supervision and specification
requirements and conditions.  The plans
and specifications for any major capital improvements, repairs or non-budgeted
projects shall be submitted to Owner and, with respect to capital improvements,
repairs and/or non-budgeted projects in excess of the variances permitted under
Section 6.4.2 of the Master Agreement, the same shall be subject to Owner’s
prior written approval.

2.2.4        To supervise, direct and control the
leasing, licensing and letting of office space, and other spaces at the
Property.

(a)           Agent
shall use commercially reasonable efforts to lease all vacant space at the
Property and shall represent Owner in lease negotiations with all existing and
new tenants at the Property (hereinafter referred to as the “Tenants”). 
Agent may hire an exclusive leasing agent to represent the Property
subject to Owner’s prior approval.  Agent
and Owner agree that Binswanger is an approved leasing agent as of the date
hereof.  Without limiting the generality
of the foregoing, and subject to the terms of this Agreement, Agent shall use
commercially reasonable efforts (and, in connection herewith, shall have the
authority to expend funds and incur costs with respect thereto, so long as the
same are contemplated or provided for in the Approved Budget) to solicit,
negotiate, approve and execute as “agent for Owner” leases for any and all
vacant space at the Property provided that: (i) the terms of such lease are in
accordance with leasing guidelines specified in the Approved Budget and
Approved Business Plan then in effect and (ii) such lease is on a lease form
approved in writing by Owner. 
Notwithstanding the foregoing, Owner reserves the right, in its sole
discretion, to modify the leasing guidelines set forth in the Approved Business
Plan from time to time by providing written notice thereof to Agent. Any leases
that are outside of the authority delegated to Agent hereunder must be approved
in writing by Owner.

(b)           It
is understood and agreed by Owner and Agent that all expenses incurred by Agent
in the marketing, promotion and leasing of the Property which have been
approved in writing by Owner or which are permitted to be incurred by Agent
pursuant to this Agreement shall be paid by Owner.

(c)           The
prior written approval of Owner is required prior to Agent

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undertaking any of
the following: (i) terminating or bringing an action seeking the termination of
any space lease (or series of related space leases for one Tenant) at the
Property; (ii) terminating any tenancy or instituting and prosecuting any
action to remove a Tenant and to recover possession of any portion of the
Property occupied by any Tenant; (iii) instituting and prosecuting any action
for the recovery of any rents (it being acknowledged and agreed that this
clause (iii) shall not be construed so as to prohibit Agent from sending out
notices of nonpayment to tenants); (iv) settling, compromising and/or releasing
such actions or suits; (v) entering into, renewing or amending a lease
requiring Owner’s approval or consent pursuant to Section 2.2.4(a) above, (vi)
conveying or otherwise transferring, pledging or encumbering the Property;
(vii) retaining attorneys on behalf of Owner; (viii) entering into a lease
buyout or settlement, including recapturing space that is vacant but where the
Tenant is honoring its rental obligations; (ix) making any material changes in
Owner’s standard lease form; (x) pledging the credit of Owner; or (xi)
borrowing money or executing any promissory note or other obligation or
mortgage, deed of trust, security agreement or other encumbrance on behalf of
Owner.

(d)           on
or before the date which is twenty (20) days after the expiration or
termination of this Agreement, Agent shall furnish to Owner a written list of
prospects, if any, with whom Agent has had negotiations with respect to the
leasing of the Property in the past three (3) months (i.e., within such
period the prospect has submitted to Owner or Agent a written proposal
specifically with regard to space at the Property or Owner or Agent (on behalf
of Owner) has made a proposal to such prospect).  If within ninety (90) days after the
expiration or termination of this Agreement, a Lease is executed, or a contract
to lease is entered into, with such a prospect, the Owner shall recognize Agent
as the broker for any such transaction and shall pay to Agent the commission according
to the terms and conditions of the in Section 3.1.4.

2.2.5        To
cause to be purchased all inventories, provisions, operating equipment,
supplies and other consumable items used at the Property.

2.2.6        To
hire (in conformity with all equal employment laws), supervise, pay and
discharge sufficient qualified on and off site personnel as may be necessary
for Agent to perform all of its obligations hereunder in accordance with  all of the requirements and standards set forth
herein.  All such personnel shall be the
employees and agents of Agent, and not the employees or agents of Owner, for all
purposes, including, without limitation, federal and state taxes, withholding
taxes and worker’s compensation insurance.  All
costs and expenses relating to such personnel shall be paid or reimbursed by
Owner in accordance with Section 3.2.5 hereof. 
Agent, and not Owner, shall be liable to such employees and supervisory
employees for their wages and benefits, and shall be liable for the withholding
and payment of all taxes, including social security taxes, and for the payment
of all Workers’ Compensation premiums, unemployment insurance contributions,
costs of benefits to which employees are entitled under any collective
bargaining agreement and all other costs related to Agent’s status as an
employer.  Subject to the right of
Owner to direct and control Agent with regard to employees with respect to the
hours worked, the shifts worked, the performance of their duties, hiring,
firing and compensation (including any payment of amounts in excess of union
scale), all matters pertaining to the

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employment, contracting, supervision, compensation,
promotion and discharge of employees and independent contractors shall be the
responsibility of Agent. Agent shall use due care and diligence in the
selection of personnel it hires in connection with the Property, and Owner
reserves the right to approve such employees selected by Agent. Agent shall
minimize duplication of services among its employees and avoid overtime
whenever possible.  To the extent such
payments exceed the provisions therefor in the Approved Budget, Agent shall
immediately notify the Owner and seek to obtain Owner’s approval of same. Agent
shall provide to Owner for approval annually as a part of the Proposed Budget and
Proposed Business Plan (as each term is hereinafter defined), a schedule of
those employees to be utilized for the Property and the percentage of such
employees’ time utilized for the Property (the “Schedule
of Employees”).  Agent
shall comply with all applicable laws and regulations pertaining to worker’s
compensation, social security, unemployment insurance, hours of labor, wages,
working conditions, and other employer-employee-related subjects.  Agent represents it is and will continue to
be an equal opportunity employer.  For a period of six
months from the termination of this Agreement, without the prior written
consent of Agent, Owner shall be restricted from hiring the employees of Agent
or independent third party contractors of Agent, provided that such independent
third party contractors are exclusively working for Agent or affiliates of
Agent.  In the event that this
restriction is violated, Owner’s sole liability to Agent shall be to pay to
Agent a sum of $10,000.00 for each such employee or exclusive independent
contractor hired.  Agent shall not take
any action which shall cause Owner any labor or employment related
liability.  Agent shall not enter into
any employment agreement, collective bargaining agreement, or other agreement
which may subject Owner to any employment related liability to any labor union
or any employee benefit plan without the prior written consent of Owner.  Any employees of Agent who handle or are
responsible for funds belonging to Owner shall be covered by crime insurance
and the cost of such insurance shall be borne solely by Owner.

2.2.7        To
cause the Property to comply with all governmental laws, rules, regulations,
ordinances or like provisions and all contracts or other agreements, in each
case with respect to the Property, provided, however, the foregoing shall not
allow Agent to expend any Extraordinary Expenses in connection therewith.  Agent shall obtain and keep in full force and
effect all necessary licenses and permits, as may be required for the operation
of the Property.  Agent shall have no
liability for any such non-compliance except for any intentional action or
failure to act, in either case in bad faith, or gross negligence or willful
misconduct.

2.2.8        To
advertise and promote the leasing of the Property.

2.2.9        To
cause the Property to be maintained in good condition and repair.

2.2.10      To make
recommendations respecting replacement and/or additions, replacements or
renewals to the Property.

2.2.11      To make
recommendations respecting capital expenditures relating to additions,
replacements or renewals to the Property.

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2.2.12      To
supervise and control the activities of tenants.

2.2.13      To keep
full and adequate books of the account and other records as are necessary to
reflect the results of operation of the Property.

2.2.14      To
deliver to Owner the financial reports and statements required pursuant to
Article V of this Agreement.

2.2.15      To
cause to be paid all levies, taxes, assessments, liens, licenses and permit
fees and other charges with respect to the operation of the Property.

2.2.16      To
maintain and place adequate insurance as specified by Owner.

2.2.17      To deposit, not later than three (3) days
after receipt, all rentals and other sums collected from tenants and any and
all other income derived from the operation of the Property into an interest
bearing trust account solely for the deposit of monies belonging to Owner and
not for deposit of funds of Agent or others and in a bank account designated by
Owner (the “Operating Account”), or as
otherwise required in connection pursuant to the documents evidencing or
securing any financing obtained by Owner with respect to the Property (the “Loan Documents”).  The Operating Account may consist of two
separate accounts: an interest bearing account for deposits (the “Deposit Account”) and an
non-interest bearing account for disbursements (the “Disbursement
Account”), provided that Agent shall maintain all  funds in the Deposit Account until it is
necessary to transfer such funds to the Disbursement Account for disbursement
pursuant to the approved disbursement schedule. 
Agent shall send to Owner as often as required a disbursement schedule
for Owner’s approval.  No disbursements
shall be made from the Operating Account unless and until Owner has approved in
writing the disbursement schedule for the month in question (such approval may
be pursuant to an Approved Budget).  Both
Owner and Agent shall have power of withdrawal from the Operating Account.  The Operating Account may also be used by
Agent in making the expenditures and disbursements contemplated hereunder,
including but not limited to payment of Agent’s personnel or other contractors
described herein and payment of the Management Fee, subject to the Approved
Budget.  On or before the fifteenth
(15th) day of each month, all excess funds remaining in the Operating Account,
less a reasonable amount for working capital, shall be paid to Owner by bank
wire transfer in accordance with written instructions provided by Owner.  Owner may, from time to time, at Owner’s expense,
require the Agent to change the applicable depository banks, alter or modify
the depository arrangements, or to otherwise comply with Owner’s lender’s
requirements and Agent shall comply with the cash management procedures and
requirements of Owner’s lender.  Agent
shall be permitted to write checks withdrawing funds from the Operating Account
four (4) times per month subject to Owner’s lender’s requirements.  Agent shall comply with all applicable
laws with respect to all security deposits, including, without limitation, the
giving of any and all notices.  The
security deposits shall at all times be deemed to be the property of Owner,
subject to all applicable laws with respect to such security deposits and the terms
of tenant leases. Agent

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shall maintain detailed records of all security deposits deposited and
such records will be open for inspection by Owner during normal business hours
upon reasonable advance notice.  Unless
provided to the contrary in the applicable lease agreement, any interest generated
from the security deposits shall be Owner’s property and transferred to Owner
in accordance with Owner’s instructions. Agent shall not withdraw any sums from
such account in excess of amounts
required to comply with tenant leases with regard to refunding security
deposits unless so instructed by Owner in writing.  Notwithstanding anything herein to the
contrary, Agent shall comply with all cash management procedures and
requirements pursuant to the Loan Documents.

2.2.18      To bill
and collect all rents (including escalation billings resulting from increases
in expenses or taxes or pursuant to any other rent escalation provision) and
other charges, in accordance with all tenant leases, which may become due at
any time from any tenant or from others for services provided in connection
with or for the use of the Property or any portion thereof.  Agent shall collect and identify any income
due to Owner from miscellaneous services provided to tenants or the public.  All monies so collected shall be deposited in
the Operating Account (as defined in Section 2.2.17).

2.2.19      To
timely pay, upon receipt, from the Operating Account any and all bills for real
estate taxes, water and sewer charges, use and occupancy taxes, and other like
charges which are or which may become liens against the Property, to keep Owner
informed of any change in the amount of real or personal property assessments
or taxes relating to the Property and upon request, to consult with Owner
regarding the contesting of either the validity or the amount thereof; and
forward to Owner’s attention, all official receipts evidencing the payment of
the foregoing charges.

2.2.20      To
institute and prosecute, after notice to Owner and with Owner’s consent, all
legal actions or proceedings necessary or appropriate for the collection of
rent or other income from tenants of the Property, the dispossessing of
occupants from the Property, enforcing rights of Owner against suppliers,
contractors and vendors with respect to the Property, and, generally, all legal
actions necessary or appropriate in connection with the Property.

2.2.21      To
notify Owner of any lawsuit or threat thereof involving, or any material fire
or other damage to, or any personal injury or property damage with respect to,
the Property, or of any violation under governmental laws, rules, regulations,
ordinances, or like provisions, with respect to the Property or this Agreement,
or of any breach of any contract or other agreement with respect to the
Property, in each case of which Agent receives actual notice.

2.2.22      To
take, without the prior consent of Owner in the event of an emergency, in Agent’s
reasonable judgment, such immediate action as is necessary or appropriate to
preserve or protect the Property or occupants or other persons or to continue
necessary services for the Property.

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2.2.23      To
engage contractors for work at the Property required hereunder and, at the
discretion of Agent, perform construction management services for all major
capital expenditures in accordance with the terms hereof, the Approved Budget
and/or the Business Plan.

2.3           Agent shall keep records with respect
to the management and operation of the Property, and shall retain those records
during the term of this Agreement and for a reasonable period thereafter (but
in no event less than three (3) years) and deliver copies of them to Owner at
Owner’s request. Owner, Owner’s lenders and Owner’s agents and representatives
shall have the right to inspect such records upon prior notice and during
regular business hours so long as such inspection does not unreasonably
interfere with the operation of the Property in any material respect.

2.4           Budget Approval.

2.4.1        Agent
shall be responsible for preparing and submitting to Owner for its approval a
proposed annual operating and capital expenditure budget for the Property (as
proposed, the “Proposed Budget”, and, as
approved by Owner, the “Approved Budget”),
which, among other things, will set forth the expenditures authorized and to be
paid for by Agent with respect to the leasing, management and operation of the
Property.  In addition, Agent shall be
responsible for preparing and submitting to Owner for its
approval a proposed overall and annual strategic and comprehensive business
plan for the Property (as proposed, the “Proposed Business
Plan”, and, as approved by Owner, the “Approved  Business Plan”).  The Approved Budget shall be in substantially
the form attached hereto as Exhibit B (the “Initial
Approved Budget”) and the Approved Business Plan shall be in
substantially the form attached hereto as Exhibit C (the “Initial Approved Business Plan”).  Agent will be responsible, subject to
appropriate funds being made available by Owner, for
acting in accordance with the Approved Budget and Approved Business Plan.  In addition, as events arise that come to
Agent’s knowledge that invalidate aspects of the Approved Budget and/or
Approved Business Plan, Agent and Owner shall work together to formulate
reasonable adjustments thereto in a commercially reasonable time and
manner.  The period from the Effective
Date of this Agreement through December 31, 2006 shall be deemed to be the “Initial Operating Year”.  Each subsequent Approved Budget and Approved
Business Plan shall cover a period which shall begin January 1 and shall end
December 31 and which is referred to in this Agreement as an “Operating Year.”

2.4.2        Owner
approves the Initial Approved Budget which Initial Approved Budget shall be
effective until the expiration of the Initial Operating Year. Proposed Budgets
and Proposed Business Plans for subsequent Operating Years shall be submitted
to Owner no later than November 15th of each Operating Year in accordance with
Section 6.13 of the Master Agreement. 
Owner’s approval of each Proposed Budget and Proposed Business Plan
shall be evidenced in writing.

2.4.3        Except
as otherwise specifically provided in this

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Agreement, Agent shall incur costs and expenses (excluding costs and
expenses for which Owner will be reimbursed by Tenants) in connection with the
operation and maintenance of the Property during any Operating Year only in
accordance with the Approved Budget and Approved Business Plan for such
Operating Year.  Except as expressly set
forth in Section 2.2.3 hereof and Section 6.4.2 of the Master Agreement,
Agent shall secure Owner’s prior written approval for any expenditure that will
result in an excess greater than the variations permitted under Section 6.4.2
of the Master Agreement (each permitted variation, a “Permitted
Variance”).  To the extent reasonably practical and as
soon as reasonably possible, prior to taking any action or expending any funds
pursuant to Section 6.4.2 of the Master Agreement, Agent shall provide Owner
with written notice of its intention to act in accordance therewith (together
with Agent’s best estimate of the costs to be incurred or the funds to be
expended in connection therewith and the variation, if any, of the applicable
line item in the Approved Budget) prior to the taking of such action or
expending such funds and, in the event such prior written notice is not
practical, Agent shall as soon as possible thereafter give Owner prompt written
notice of any such action or the expenditure of any funds pursuant to the
emergency authorization set forth in Section 6.4.2 of the Master Agreement.  In addition, Agent shall comply with the
provisions of Section 2.2.3 hereof with respect to major capital
improvements.

2.4.4                If any Operating Year shall
commence before Owner shall have approved a Proposed Budget for such Operating
Year, the previous Operating Year’s Approved Budget, adjusted as provided in
Section 6.13.3 of the Master Agreement (“Budget  Adjustments”),
shall become the applicable budget for that Operating Year (the “Interim  Budget”) until such time as Owner
approves a Proposed Budget.  As used in
this Agreement with respect to expenditures made or to be made by Agent, the
phrases “included in and incurred in connection with the Approved Budget and
Approved Business Plan”, “provided for or contemplated in the Approved Budget
and Approved Business Plan” and words or phrases of similar import shall be
deemed to mean “in accordance with the Approved Budget and Approved Business
Plan or Interim Budget, as then applicable, plus any Permitted Variance in
connection therewith”.

2.5           Agent shall execute on behalf of
Owner, with Owner’s consent, to be given or withheld in Owner’s sole
discretion, any other document, consent or agreement reasonably required for
the orderly management and operation of the Property.  Agent shall have no liability or obligation
to advance or use any of its own funds to make any payments or to fulfill any
obligation which may be required of Agent or Owner hereunder.

2.6           In
discharging its duties and responsibilities under this Agreement, except as
otherwise specifically provided in this Agreement, Agent shall at all times act
in accordance with the Approved Budget and Approved Business Plan.  Except as otherwise specifically provided in
this Agreement, Agent shall have no authority to take any action, expend any
sum, make any decision, or incur any obligation on the behalf of Owner (i) with
respect to any Major Decision (as defined in the Master Agreement), unless such
Major Decision has been expressly approved by the Owner as provided in the
Master Agreement, or (ii) which is inconsistent with or varies from the
Approved Budget and/or the Approved Business Plan. Without limiting the

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generality of the foregoing, the entering into or consummating any
transaction or arrangement with any affiliate of Agent, or any other
transaction involving an actual or potential conflict of interest, shall,
except as otherwise expressly provided herein or in the Master Agreement,
require the approval of the Owner, which approval shall not be unreasonably
withheld provided that any such transaction or arrangement is entered into in
the ordinary course of business and on terms which are no less favorable to
Owner or such affiliate than would be obtained in a comparable arm’s length
transaction or arrangement with an unrelated third party.

ARTICLE III

COMPENSATION

3.1           As
compensation for performing the management services described herein, and only
for so long as this Agreement is in effect and has not been terminated, Owner
shall:

3.1.1        Pay
Agent, as hereinafter provided, an annual fee (the “Management
Fee”), during the term of this Agreement, equal to three (3%)
percent per annum of “Revenues” (as defined below) received by Owner during
each calendar year, or portion thereof. 
The Management Fee shall be paid, in arrears, to Agent in estimated
monthly installments on or before the fifteenth (15th) day of each calendar
month based upon the Revenues received by Owner during the preceding calendar
month.  Within thirty (30) days after the
calculation by Owner, which shall be based upon the annual audit for Owner by,
at Owner’s election, a certified public accountant or the Chief Financial
Officer of Amerimar Enterprises, Inc., of the Revenues for the calendar year,
Owner shall remit to Agent or Agent shall remit to Owner, without interest, any
deficit or excess, as the case may be, in the annual fee over the sum of all
monthly installments previously paid.

3.1.2        The
term “Revenues” shall mean rent actually
collected from tenants of the Property, including base or minimum rent,
escalation charges for taxes, insurance and common area maintenance expenses;
provided, however, there shall be excluded from Revenues amounts received for
remodeling and tenant change costs, security deposits and interest on any such
accounts and reimbursements by tenants except as set forth above.  Revenues shall exclude (i) proceeds from any
refinancing or sale of the Property, (ii) condemnation awards or insurance
proceeds (unless such insurance proceeds compensate for lost rent or other
Revenues), (iii) proceeds from the sale of used equipment or furnishings not in
the ordinary course, provided that the proceeds from such sale are used to
replace the equipment and furnishings in question, (iv) income derived from
interest on investments, (v) discounts and dividends on insurance policies; (vi)
rents paid more than thirty (30) days in advance of the due date until the
month in which payments are to apply as rent income; (vii) security deposits,
unless forfeited; (viii) money collected for capital items which are paid for
by tenants to the extent Agent receives a fee therefor; (ix) abatement of taxes
or proceeds of any sales and/or litigation; (x) sales tax, (xi) any taxes on
rent paid by tenants; (xii) any amounts attributable to repayment of loans by
Owner to any tenant, for which there is a specified loan amortization schedule;
and (xiii)

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all amounts from any source which are properly attributable or
allocable in accordance with generally accepted accounting principles to
periods when this Agreement was not in effect.

3.1.3        In
addition to the fees payable to Agent in Section 3.1.1 hereof, Owner agrees to
pay Agent construction management fees on building improvements or repairs
equal to five (5%) percent of the costs of construction and/or improvement, to
be paid concurrently with payments of the cost of such construction and/or
improvement.

3.1.4        In
addition to the fees payable to Agent in Sections 3.1.1 and 3.1.3 hereof, Owner
agrees to pay Agent commercial leasing commissions as compensation for
procuring new commercial tenants and renewing existing commercial office
leases.  The standard commercial leasing
commission payable to Agent for new commercial office leases and expansions is
equal to one percent (1%) of the Lease Value (as defined below).  The standard commercial leasing commission shall
be payable to the Agent for new commercial office leases and expansions
procured with or without the assistance of any outside broker or brokers.  Agent may hire an exclusive leasing
agent to represent the Property subject to Owner’s prior approval.  Agent and Owner agree that Binswanger is an
approved leasing agent as of the date hereof.  The Agent
shall be entitled to be paid a commission for renewals or extensions of
existing commercial office leases procured with or without the assistance of
any outside broker(s) equal to the greater of (a) one-half of one percent
(0.5%) of the Lease Value, and (b) two percent (2%) of the Lease Value less the
amount paid to any tenant broker entitled to share in such commission.  The payment of commercial leasing commissions
to outside brokers for new leases or for renewals, extensions, or expansions of
existing commercial office leases shall be negotiated on a case-by-case
basis.  Commercial leasing commissions
for new leases and expansions are generally paid as follows: fifty percent
(50%) upon lease execution and fifty percent (50%) upon the rent commencement
date under the lease (other than any rent payable upon execution), provided
that if such lease grants the tenant a right to terminate the lease prior to
the rent commencement date, the commissions for new leases and expansions shall
be paid fifty percent (50%) upon the expiration or waiver of such termination
right (provided that tenant has not terminated its lease) and fifty percent
(50%) upon the rent commencement date under the lease (other than any rent
payable upon execution and provided that tenant has not terminated its
lease).  Leasing commission for renewals
and extensions are generally paid one hundred (100%) percent upon full
execution of the lease amendment. “Lease Value”
shall mean the aggregate base rent payable over the term of the lease, not
including any free rent periods or extension terms, provided that extension
terms or renewal options shall be included once such extension options have
been exercised.

3.2           To
the extent provided in an Approved Budget, in addition to the fee payable to
Agent in Section 3.1 hereof, Owner agrees, within ten (10) days after
presentation of an invoice from Agent:

3.2.1        To pay
or reimburse Agent for all reasonable third party accounting, legal,
engineering, and out-of-pocket expenses approved by Owner.

 11

 

3.2.2        To pay
or reimburse Agent for reasonable and customary costs and expenses consistent
with the Approved Budget in place incurred related to the operation,
management, leasing and licensing of the Property including, without
limitation, training and educational expenses, travel and entertainment
expenses, telephone charges, advertising agency, insurance, public relations
fees and overnight courier service charges.

3.2.3        To
provide, at Owner’s expense, an adequately furnished office and all necessary
utilities related thereto, within the Property to serve as Agent’s on-site
office.

3.2.4        To
reimburse Agent for the cost of Agent’s on-site computer/word processing
software, services and equipment used in the performance of Agent’s obligations
under this Agreement.

3.2.5        To pay
or reimburse Agent for all costs and expenses (including salaries, wages,
severance payments, pension, unemployment, workmen’s compensation or medical
equipment insurance and other fringe benefits, payroll and similar taxes)
relating to all personnel to the extent such personnel are performing property
level functions, regardless of whether such personnel is located on site or at
Agent’s corporate offices.

Reimbursements
and payments due by Owner to Agent pursuant to this Section 3.2 may be
reimbursed from the Operating Account, subject to the provisions of the Loan
Documents.

3.3           Reimbursements and payments due by
Owner to Agent pursuant to this Article III for obligations accrued prior to
termination of this Agreement shall survive the termination of this Agreement.

3.4           The following expenses or costs
incurred by or on behalf of Agent in connection with the services to be
performed by Agent under this Agreement shall be at the sole cost and expense
of the Agent, and shall not be reimbursed by Owner:

3.4.1        Costs
(including salaries, wages, severance payments, pension, unemployment, workmen’s
compensation or medical equipment insurance and other fringe benefits, payroll
and similar taxes) of Gerald M. Marshall, Jon A. Cummins and Stephen J. Gleason
and other employee related costs for employees of Agent that perform work
unrelated to the Property for the percentage of time such employees perform
work unrelated to the Property.

3.4.2        General
administrative and reporting services provided by the Agent’s home office or
other offices other than at the Property or except if approved by Owner in an
Approved Budget.

3.4.3        Any
other central office overhead or general administrative expenses of Agent
except if approved by Owner in an Approved Budget.

 12
 

 

3.4.4        Cost of forms, papers, ledgers, and
other supplies and equipment used in Agent’s office at any location off the
Property except if approved by Owner in an Approved Budget.

3.4.5        Cost of electronic data processing
equipment, or any pro rata charge thereon, if located at Agent’s office off the
Property except if approved by Owner in an Approved Budget.

3.4.6        Costs attributable to losses arising
from negligence, fraud or willful misconduct or breach of this Agreement on the
part of Agent, Agent’s associates, Agent’s employees or Agent’s affiliates.

3.5           Owner shall be required to approve
expenses or costs in any Proposed Budget to the extent such expenses or costs
are included in the Initial Approved Budget.

ARTICLE IV

TERM

4.1           This Agreement shall terminate on
August 31, 2016, unless earlier terminated or renewed as provided in this
Agreement.

4.2           Upon
expiration of the initial or any subsequent term of the Agreement, the term of
this Agreement shall be automatically extended from year to year, unless either
Agent or Owner gives notice of termination to the other of them no later than
thirty (30) days prior to the commencement of the next succeeding annual
renewal period or unless earlier terminated or renewed as provided in this
Article IV.

4.3           Owner may, at all times during the
term of this Agreement and any extension thereof, terminate this Agreement
immediately in the event that (i) Agent has, in Owner’s opinion, mismanaged the
Property or has been negligent in the management, operation, maintenance or
servicing thereof or has otherwise defaulted in the performance of its
obligations or breached its fiduciary obligation hereunder, and such breach or
default has not been cured to the satisfaction of Owner within fifteen (15)
days after receipt of notice from Owner of such breach or default unless such
default is susceptible of cure and of a nature which cannot be remedied within
such fifteen (15) day period, in which event Agent shall promptly commence and
thereafter diligently and continuously proceed to remedy such default until
completion but in no event later than ninety (90) days in the aggregate after
such breach; or (ii) a receiver, liquidator or trustee of Agent shall be
appointed by court order, or a petition to liquidate or reorganize Agent shall
be filed against Agent under any bankruptcy, reorganization or insolvency law,
and such order or petition is not vacated or dismissed within sixty (60) days,
or Agent shall file a petition in bankruptcy or request reorganization under
any provision of the bankruptcy, reorganization or insolvency laws, or if Agent
is adjudicated a bankrupt; (iii) there is damage or destruction to the Property
and Owner

 13
 

 

decides
not to rebuild or restore the Property or there is a taking by condemnation or
similar proceedings, of a substantial portion of the Property; (iv) the
Property or all of the direct or indirect ownership interests in Owner shall
have been disposed of or sold; (v) Amerimar shall no longer own any direct or
indirect interest in Owner; (vi) a default occurs under the Loan Documents that
permits Owner’s lender to terminate this Agreement; or (vi) an Amerimar Event
of Default (as defined in the Master Agreement) occurs under the Master
Agreement.  Any such termination shall be
effective upon Agent’s receipt of Owner’s notice of termination, or thereafter
upon such other date as specified by Owner in such written notice.

4.4           If either Owner or Agent shall fail
or refuse to perform or comply with any of its obligations hereunder, then the
non-defaulting party may give written notice thereof to the defaulting
party.  The defaulting party shall have
five (5) days after receipt of such notice therefore to remedy any monetary
default and fifteen (15) days after receipt of notice therefore to remedy any
non-monetary default, unless such default is susceptible of cure and of a
nature which cannot be remedied within such fifteen (15) day period, in which
event the defaulting party shall promptly commence and thereafter diligently
and continuously proceed to remedy such default until completion.  If the defaulting party does not so remedy
the default within the applicable time period, without limitation of any other
right or remedy of the non-defaulting party at law or in equity, this Agreement
may be terminated at the option of the non-defaulting party, by written notice
to the defaulting party.

4.5           Upon the expiration of the term of
this Agreement or any earlier termination, as herein provided, Agent shall
forthwith (a) surrender and deliver up to Owner possession of space occupied by
Agent in the Property and all deposits and income, including deposits, and
other monies of Owner on hand and in any bank account, subject to deduction for
sums then due and payable to, or which have accrued but are not yet due and
payable to, Agent under this Agreement, (b) deliver to Owner, as received, any
monies of Owner with respect to the Property received by Agent after such
termination, (c) deliver to Owner all materials and supplies, keys, contracts
and documents, and such other accounting papers and records in possession or
within control of Agent pertaining to this Agreement and/or the Property as
Owner shall request, (d) assign any right Agent may have in and to any existing
contracts relating to the operation and maintenance of the Property as Owner
shall require (e) deliver to Owner or Owner’s duly appointed agent, all
records, contracts, receipts for deposits and unpaid bills with respect to the
Property and (f) otherwise cooperate with Owner and any successor agent,
manager and/or owner of the Property in connection with the transition of the
operation and management of the Property.

ARTICLE V

FINANCIAL REPORTING; RIGHT TO
AUDIT

5.1           Agent
shall maintain at the Property, and retain for three (3) years after the
termination of this Agreement or at the headquarter offices of Agent, separate
and segregated records reflecting the results of the operation of the Property
in accordance with Article 10 of the Master Agreement.  Such books and records shall be the property
of Owner.  Agent shall make such

 14
 

 

books
and records available for review by Owner, its accountants, attorneys and
agents, as well as the members of Owner during normal business hours upon
reasonable advance notice.  Agent
acknowledges that an indirect owner of Owner is a REIT within the meaning of
Sections 856-860 of the Code, and Agent agrees and acknowledges that it will
maintain all records, books and accounts in a commercially reasonable manner as
directed by Owner so as to enable Owner and its affiliates to effect compliance
with all requirements imposed upon REITs under the Code and any other
applicable laws (the “REIT Requirements”);
provided, however, that Agent shall not
have any liability to Owner or any other person if for any reason, other than
by reason of Agent’s gross negligence or willful misconduct, such indirect
owner of Owner at any time fails to qualify as a REIT or is in violation of any
REIT Requirements, and provided further
that Agent shall not have any liability to Owner or any other person to the extent
that Owner approved of, or caused Agent to take, any action causing such
indirect owner of Owner to fail to qualify as a REIT or to violate any REIT
Requirements.

5.2           Agent
shall prepare, or cause to be prepared on behalf of Owner with respect to the
Property the reports required under Section 10.8 of the Master Agreement.  To the extent not included in the reports
required under the Master Agreement, on or before the tenth (10th) day of each
calendar month during the term of this Agreement, Agent shall deliver to Owner
a monthly report (the “Monthly Report”)
which shall include unaudited income and expense statements of the Property for
the previous month, a capital expenditure report for such month (showing
building improvements, tenant improvements and leasing commissions), a written
report setting forth leasing activities conducted during the previous month
rent rolls, cash flow statements for the Property (including sufficient detail
to verify the Management Fee and other fees hereunder), statements of unpaid
bills resulting from insufficient gross income and charges after payment out of
the Operating Account in accordance with Section 3.2 hereof, an accounts
receivable aging summary and status of collection activities, tenant and vendor
insurance certification status report and market lease information. The monthly
report submitted each January and July shall also include an analysis of the
then-current marketing plan for the Property, comparing actual activity for the
previous six (6) months to budgeted activity and expectations and a market
report for the Property submarket.

5.3           Owner
reserves the right for Owner’s employees, or other appointed by Owner, to
conduct examinations, upon advance notification, and during normal business
hours, of the books and records maintained for Owner by Agent no matter where
such books and records are located. 
Owner also reserves the right to perform any and all additional audits
relating to Agent’s activities either at the Property or any office of
Agent.  Should Owner’s employees or
appointees discover deficiencies in either internal control or errors in
recordkeeping, Agent shall correct such deficiencies and errors within five (5)
days of its discovery.  Agent shall
inform Owner in writing, or the action taken to correct any audit
discrepancies.

5.4           Owner
specifically reserves the right for Owner and each of its members to enter upon
the Property at any and all times during the Term for any purpose during normal
business hours.

 15
 

 

ARTICLE VI

INDEMNIFICATION

6.1           Agent hereby indemnifies and agrees
to hold harmless Owner, and at Owner’s option, to defend Owner with counsel
reasonably approved by Owner, from and against any and all claims (civil or
criminal), demands, actions, suits, obligations, liabilities, losses, damages,
judgments, costs, expenses and fees (including costs of investigation,
interest, penalties and reasonable attorney’s fees) which may be paid by Owner
to independent third parties arising out of the gross negligence or willful
misconduct of Agent or Agent’s employees, or any independent contractor engaged
by Agent, including, without limitation, any breach of the provisions of this
Agreement, or any intentional act or omission of Agent outside the scope of
Agent’s authority as provided herein. 
This indemnity shall survive any expiration or termination of this
Agreement.

6.2           Owner shall protect, defend,
indemnify and hold harmless Agent from and against any and all loss, cost,
damage, liability and expense (including court costs and reasonable attorneys’
fees) arising out of the performance by Agent of its obligations and duties
hereunder in accordance with the terms hereof; provided, however, that  Owner does not hereby agree, and shall not be
obligated to, so indemnify Agent from any such loss, cost damage, liability or
expense arising out of any act or omission of Agent or any of its agents,
officers, employees or representatives, which act or omission is negligent,
tortuous, in breach of this Agreement or outside the scope of Agent’s authority
as provided herein.

ARTICLE VII

MISCELLANEOUS

7.1           Owner agrees that any and all
liability insurance which it at any time carries insuring its activities with
respect to the Property shall include Agent as an additional insured at no cost
to Agent.

7.1.1  At all
times during the term of this Agreement, Owner shall maintain in force and
effect insurance coverage and comply with any and all insurance requirements
imposed by Owner’s lender pursuant to the Loan Documents.

7.1.2  Agent shall
carry Workers’ Compensation Insurance as required by statute, including
Employers’ Liability with limits not less than Five Hundred Thousand ($500,000)
per occurrence, for all of Agent’s employees having any connection with the
work performed in connection with this Agreement provided that the costs of
such insurance shall be reimbursed by Owner to the extent such employees are
utilized for the Property.

7.2           This Agreement shall not be deemed or
construed to create a partnership, joint venture or other association to carry
on, as co-owners, a business for profit between Owner and Agent.

 16
 

 

7.3           This Agreement shall be binding upon
and inure to the benefit of the parties hereto and their respective successors
and assigns; provided that, Agent shall not be permitted to assign this Agreement
without the prior written consent of Owner.

7.4           The exercise of one or more of the
provisions hereof shall not preclude the exercise of any other provision
hereof.

7.5           This Agreement constitutes the entire
Agreement between the parties hereto relative to the subject matter
hereof.  Any prior negotiations,
correspondence or understandings relative to the subject matter hereof shall be
deemed to be merged in this Agreement. 
This Agreement may not be amended or modified except in writing executed
by all of the parties hereto.

7.6           This Agreement shall be governed by
and construed in accordance with the laws of the Commonwealth of Pennsylvania.

7.7           All notices and other communications
provided for in this Agreement shall be in writing and may be delivered by hand,
sent by overnight delivery service or (except in the event of a mail strike)
sent by registered or certified United States Mail, postage prepaid, and
addressed as follows:

	
  If to Owner, to:

  	
   

  	
  Bala Pointe Owner LP

  	
   

  	
   

  
	
   

  	
   

  	
  c/o Dividend
  Capital Total Realty Trust

  	
   

  	
   

  
	
   

  	
   

  	
  7 Times Square

  	
   

  	
   

  
	
   

  	
   

  	
  New York, New
  York 10036

  	
   

  	
   

  
	
   

  	
   

  	
  Attn: Marc J.
  Warren

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  With a copy to:

  	
   

  	
  Solomon and Weinberg LLP

  	
   

  	
   

  
	
   

  	
   

  	
  900 Third
  Avenue, 29th Floor

  	
   

  	
   

  
	
   

  	
   

  	
  New York, New
  York 10022

  	
   

  	
   

  
	
   

  	
   

  	
  Attention:
  Joseph D. D’Angelo, Esq.

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  If to Agent, to:

  	
   

  	
  AMERIMAR BALA POINTE MANAGEMENT CO., INC.

  
	
   

  	
   

  	
  c/o Amerimar
  Enterprises, Inc.

  	
   

  	
   

  
	
   

  	
   

  	
  Suite 1900

  	
   

  	
   

  
	
   

  	
   

  	
  210 West
  Rittenhouse Square

  	
   

  	
   

  
	
   

  	
   

  	
  Philadelphia, PA
  19103

  	
   

  	
   

  
	
   

  	
   

  	
  Attention:
  Stephen J. Gleason

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  With a copy to:

  	
   

  	
  KURTZ & REVNESS, P.C.

  	
   

  	
   

  
	
   

  	
   

  	
  1265 Drummers
  Lane

  	
   

  	
   

  
							

 

 17
 

 

 

	
  

  	
   

  	
  Suite 209

  	
   

  	
   

  
	
   

  	
   

  	
  Wayne, PA 19087

  	
   

  	
   

  
	
   

  	
   

  	
  Attention:
  Stuart B. Kurtz, Esquire

  	
   

  	
   

  

 

or to
such other address as either party shall hereafter designate by notice to the
other as herein provided.  All notices,
demands and requests shall be deemed to have been given when delivered on the
fifth (5th) business day after the date of mailing in the manner and addressed
aforesaid.

7.8           Owner and its general partners,
agents, servants and representatives may, upon prior notice and during regular
business hours, enter the Property or any part thereof, for the purpose of
inspecting, surveying, measuring or preserving the Property or for any other
purpose, so long as such inspection does not interfere with the operation of
the Property in any respect.

7.9           The liability of the Agent under this
Agreement shall be limited to the assets of the Agent and no partner,
shareholder, officer, director or principal of Agent, whether disclosed or
undisclosed, shall have any personal liability under this Agreement.

7.10         The liability of Owner under this
Agreement shall be limited to the Property and neither Owner nor any partner or
principal of Owner, whether disclosed or undisclosed, shall have any personal
liability under this Agreement.

7.11         Agent shall not be required to devote
its full time and attention to the performance of its obligations under this
Agreement.  Agent shall devote to the
performance of its obligations under this Agreement such portion of its time as
may be reasonably necessary to accomplish the obligations of Agent set forth
herein.

7.12         Each of Owner and Agent shall have the
right to engage in any other activity for its own benefit or advantage,
including, without limitation, any competitive real estate venture.  Nothing contained herein shall preclude,
prevent or be a limitation upon either Owner or Agent being engaged in other
real estate or other ventures, whether acting for itself or for others, or as a
partner in a partnership or a stockholder in a corporation, or otherwise.

7.13         Agent shall not place any signs on the
Property without Owner’s prior written consent, which may be withheld in Owner’s
sole discretion.  Any signs placed on the
Property by Agent shall, upon Owner’s request, be removed by Agent, at Agent’s
expense, upon termination or expiration of this Agreement.

 18
 

 

IN WITNESS WHEREOF, the parties hereto
have duly executed this Agreement as of the day and year first above written.

 

	
  OWNER:

  	
   

  	
  AGENT:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  BALA POINTE
  OWNER L.P.

  	
   

  	
  AMERIMAR BALA POINTE

  	
   

  	
   

  
	
  By: Bala Pointe
  GP, LLC,

  	
   

  	
  MANAGEMENT CO., INC.

  	
   

  	
   

  
	
  its general partner

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
  By:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Print Name:

  	
   

  	
   

  	
   

  	
  Print Name:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  	
   

  	
  Title:

  	
   

  	
   

  	
   

  
												

 

 19
 

 

EXHIBIT “A”

LEGAL DESCRIPTION

 20

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