Document:

Fourth Amendment to Lease

 Exhibit 10.1 
 FOURTH AMENDMENT TO LEASE 
 This Fourth Amendment to Lease (the
"Agreement") is entered into as of February 15, 2011, by and between SKS HARBOR BAY ASSOCIATES, LLC, a Delaware limited liability company ("Landlord"), and CELERA CORPORATION, a Delaware corporation ("Tenant"), with respect to the
following facts and circumstances: 
 A. Landlord and Tenant are parties to that certain Lease dated September 22, 1998, as
amended by a First Amendment to Lease dated February 15, 1999, a Landlord Consent – Consent to Assignment of Lease and Sublease dated April 26, 2001, a Second Amendment to Lease dated April 12, 2002, a Third Amendment to
Lease dated April 27, 2005, and a Consent to Assignment dated on or about July, 2008 (collectively, the "Lease") of certain premises (the "Premises") commonly known as 1401 Harbor Bay Parkway, Alameda, California, and more particularly
described in the Lease. Capitalized terms used and not otherwise defined herein shall have the meanings given those terms in the Lease. 
 B. Landlord and Tenant desire to amend the Lease on the terms and conditions provided herein. 
 IT IS, THEREFORE, agreed as follows: 
 1. The Lease Term Expiration Date is hereby
changed to April 30, 2016 (the "Second New Expiration Date"). The period from May 1, 2011 (the "Second Extension Commencement Date") to the Second New Expiration Date is referred to herein as the "Second Extension Term." 

2. Commencing on the Second Extension Commencement Date, Tenant shall pay to Landlord monthly installments of Basic Annual Rent with
respect to the Premises in accordance with the following schedule on the first day of each month of the Second Extension Term: 
  

									
	 Period
	  	Basic Annual Rent	 	  	Monthly Installment
of Basic Annual Rent	 
	 05/01/2011 - 04/30/2012
	  	$	859,986.00	  	  	$	71,665.50	  
	 05/01/2012 - 04/30/2013
	  	$	885,785.58	  	  	$	73,815.47	  
	 05/01/2013 - 04/30/2014
	  	$	912,359.15	  	  	$	76,029.93	  
	 05/01/2014 - 04/30/2015
	  	$	939,729.92	  	  	$	78,310.83	  
	 05/01/2015 - 04/30/2016
	  	$	967,921.82	  	  	$	80,660.15	  

 3. Tenant is in
occupancy of the Premises and hereby accepts the Premises "AS IS", without any obligation on Landlord's part to alter or improve such space or provide Tenant with any improvement allowance, except Landlord shall provide the allowance as
provided in Section 11 of this Agreement and nothing contained herein shall reduce or modify Landlord's repair and maintenance obligations under the Lease. 
 4. From and after the Second Extension Commencement Date, the Basic Annual Rent shall not be subject to adjustment as provided in Section 6.1 of the Lease and the term "Rent Adjustment Date" is
deleted from the Lease. 

  
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 5. A "Permitted Assignment" as referenced in the Lease and in this Agreement shall mean an
assignment made in accordance with the terms of Section 25.3 of the Lease to an assignee that has a net worth that is equal to or greater than the net worth of Tenant immediately prior to that Permitted Assignment. A "Permitted Sublease" as
referenced in the Lease and in this Agreement shall mean any sublease (approved by Landlord if such approval is required under the Lease) to any person, corporation, partnership or other entity which acquires all or substantially all of the business
or assets of Tenant or to any person, corporation, partnership or other entity which controls, is controlled by or is under common control with Tenant. 
 6. Tenant shall have the right to extend the Lease for two (2) additional five (5) year periods following the Second Extension Term on the terms and conditions of Section 41 of the Lease as
amended by this Agreement. Section 41 of the Lease is hereby amended in its entirety to read as follows: 
 "41. Options
to Extend Lease. 
 41.1 First Extension Option. Tenant shall have the option to extend this Lease
(the "First Extension Option") for one additional term of five (5) years (the "First Extension Period"), upon the terms and conditions hereinafter set forth: 

(a) If the First Extension Option is exercised, then the Basic Annual Rent per annum for such First Extension Period (the
"First Option Rent") shall be equal to 95% of the Fair Market Rental Value (as defined hereinafter) for the Premises as of the commencement of the First Extension Option for such First Extension Period; provided, however, that the First Option Rent
shall in no event be less than the Basic Annual Rent scheduled to be paid during the year immediately prior to the commencement of the First Extension Period. 
 (b) The First Extension Option must be exercised by Tenant, if at all, only at the time and in the manner provided in this subsection 41.1(b). 

(i) If Tenant wishes to exercise the First Extension Option, Tenant must, on or before the date occurring six (6)
months before the expiration of the Second Extension Term (but not before the date that is nine (9) months before the expiration of the Second Extension Term), exercise the First Extension Option by delivering written notice (the "First
Exercise Notice") to Landlord. If Tenant timely and properly exercises its First Extension Option, the Lease Term shall be extended for the First Extension Period upon all of the terms and conditions set forth in the Lease, as amended, except that
the rent for the First Extension Period shall be as provided in subsection 41.1(a) and Tenant shall have no further options to extend the Lease Term except for the Second Extension Option. 

(ii) If Tenant fails to deliver a timely First Exercise Notice, Tenant shall be considered to have elected not to
exercise the First Extension Option. 

  
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 (c) It is understood and agreed that the First Extension Option hereby
granted is personal to Tenant and is not transferable except in connection with a Permitted Assignment. In the event of any assignment of the Lease (other than a Permitted Assignment) or subletting (other than a Permitted Sublease) of the Premises
or any part thereof, the First Extension Option shall automatically terminate and shall thereafter be null and void. 
 (d) Tenant's exercise of the First Extension Option shall, if Landlord so elects in its absolute discretion, be ineffective in the event that a Default by Tenant remains uncured at the time of delivery of
the First Exercise Notice or at the commencement of the First Extension Period. 
 41.2 Second Extension Option. Tenant
shall have the option to extend this Lease (the "Second Extension Option") for one additional term of five (5) years (the "Second Extension Period"), upon the terms and conditions hereinafter set forth: 

(a) If the Second Extension Option is exercised, then the Basic Annual Rent per annum for such Second Extension Period
(the "Second Option Rent") shall be equal to 95% of the Fair Market Rental Value for the Premises as of the commencement of the Second Extension Option for such Second Extension Period; provided, however, that the Second Option Rent shall in no
event be less than Basic Annual Rent scheduled to be paid during the year immediately prior to the commencement of the Second Extension Period. 
 (b) The Second Extension Option must be exercised by Tenant, if at all, only at the time and in the manner provided in this subsection 41.2(b). 

(i) If Tenant wishes to exercise the Second Extension Option, Tenant must, on or before the date occurring six (6)
months before the expiration of the First Extension Period (but not before the date that is nine (9) months before the expiration of the First Extension Period), exercise the Second Extension Option by delivering written notice (the "Second
Exercise Notice") to Landlord. If Tenant timely and properly exercises its Second Extension Option, the Lease Term shall be extended for the Second Extension Period upon all of the terms and conditions set forth in the Lease, as amended, except that
the rent for the Second Extension Period shall be as provided in subsection 41.2(a) and Tenant shall have no further options to extend the Lease Term. 
 (ii) If Tenant fails to deliver a timely Second Exercise Notice, Tenant shall be considered to have elected not to exercise the Second Extension Option. 

(c) It is understood and agreed that the Second Extension Option hereby granted is personal to Tenant and is not
transferable except in connection with a Permitted Assignment. In the event of any assignment of the Lease (other than a Permitted Assignment) or subletting (other than a Permitted Sublease) of the Premises or any part thereof, the Second Extension
Option shall automatically terminate and shall thereafter be null and void. 

  
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 (d) Tenant's exercise of the Second Extension Option shall, if Landlord so
elects in its absolute discretion, be ineffective in the event that a Default by Tenant remains uncured at the time of delivery of the Second Exercise Notice or at the commencement of the Second Extension Period. 

(e) The Second Extension Option shall terminate and shall thereafter be null and void in the event Tenant does not
exercise the First Extension Option or for any reason Tenant's exercise of the First Extension Option is ineffective. 
 41.3
Fair Market Rental Value. The provisions of this Section shall apply in any instance in which this Lease provides that the Fair Market Rental Value is to apply. 

(a) "Fair Market Rental Value" means the annual amount per square foot that a willing tenant would pay and a willing
landlord would accept in arm's length negotiations, without any additional inducements, for an extension of a lease of the applicable space on the applicable terms and conditions for the applicable period of time (other than Base Year, which shall
be the calendar year in which the first day of the applicable Extension Period falls). Fair Market Rental Value shall be determined by Landlord considering the most recent new direct leases (and market renewals and extensions, if applicable) in the
Building and in comparable buildings owned or managed by Landlord that are near the Building, and consideration shall be given to the most recent new direct leases (and market renewals and extensions, if applicable) in other comparable buildings in
the Harbor Bay area. 
 (b) In determining the rental rate of comparable space, the parties shall include all
escalations and take into consideration the following concessions: 
 (i) Rental abatement concessions, if any,
being granted to tenants in connection with the comparable space; 
 (ii) Tenant improvements or allowances
provided or to be provided for the comparable space, taking into account the value of the existing improvements in the Premises, based on the age, quality, and layout of the improvements. 

(c) If in determining the Fair Market Rental Value the parties determine that the economic terms of leases of comparable
space include a tenant improvement allowance, Landlord may, at Landlord's sole option, elect to do the following: 
 (i) Grant some or all of the value of the tenant improvement allowance as an allowance for the refurbishment of the Premises; and 

  
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 (ii) Reduce the Basic Annual Rent component of the Fair Market Rental Value
to be an effective rental rate that takes into consideration the total dollar value of that portion of the tenant improvement allowance that Landlord has elected not to grant to Tenant (in which case that portion of the tenant improvement allowance
evidenced in the effective rental rate shall not be granted to Tenant). 
 41.4 Resolving Disagreement Over Fair Market Rental
Value. The determination of Fair Market Rental Value shall be as provided this Section 41.4. 
 (a)
Negotiated Agreement. Landlord and Tenant shall diligently attempt in good faith to agree on the Fair Market Rental Value on or before the date that is one hundred twenty (120) days prior to the commencement of the applicable Extension
Option (the "Outside Agreement Date"). 
 (b) Parties' Separate Determinations. If Landlord and Tenant
fail to reach agreement on or before the Outside Agreement Date, Landlord and Tenant shall each make a separate determination of the Fair Market Rental Value and notify the other party of this determination within five (5) days after the
Outside Agreement Date. 
 (i) Two Determinations. If each party makes a timely determination of the Fair
Market Rental Value, those determinations shall be submitted to arbitration in accordance with subsection (c). 
 (ii) One Determination. If Landlord or Tenant fails to make a determination of the Fair Market Rental Value within the five-day period, that failure shall be conclusively considered to be that
party's approval of the Fair Market Rental Value submitted within the five-day period by the other party. 
 (c)
Arbitration. If both parties make timely individual determinations of the Fair Market Rental Value under subsection (b), the Fair Market Rental Value shall be determined by arbitration under this subsection (c). 

(i) Scope of Arbitration. The determination of the arbitrators shall be limited to the sole issue of whether
Landlord's or Tenant's submitted Fair Market Rental Value is the closest to the actual Fair Market Rental Value as determined by the arbitrators, taking into account the requirements of Section 41.3. 

(ii) Qualifications of Arbitrator(s). The arbitrators (i) shall be (A) a member of the American Institute
of Real Estate Appraisers with not less than 10 years of experience in the appraisal of improved office, R&D and office/laboratory real estate in the greater San Francisco Bay metropolitan area, or (B) a licensed commercial real
estate broker with not less than 15 years experience representing landlords and/or tenants in the leasing of high tech or life sciences space in the greater San Francisco Bay metropolitan area, (ii) devoting substantially all of their
time to professional appraisal or brokerage work, as applicable, at the time of appointment and (iii) be in all respects impartial and disinterested. 

  
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 (iii) Parties' Appointment of Arbitrators. Within fifteen (15)
days after the Outside Agreement Date, Landlord and Tenant shall each appoint one arbitrator and notify the other party of the arbitrator's name and business address. 

(iv) Appointment of Third Arbitrator. If each party timely appoints an arbitrator, the two (2) arbitrators
shall, within ten (10) days after the appointment of the second arbitrator, agree on and appoint a third arbitrator (who shall be qualified under the same criteria set forth above for qualification of the initial two (2) arbitrators) and
provide notice to Landlord and Tenant of the arbitrator's name and business address. 
 (v) Arbitrators'
Decision. Within thirty (30) days after the appointment of the third arbitrator, the three (3) arbitrators shall decide whether the parties will use Landlord's or Tenant's submitted Fair Market Rental Value and shall notify Landlord
and Tenant of their decision. The decision of the majority the three (3) arbitrators shall be binding on Landlord and Tenant. 
 (vi) If Only One Arbitrator is Appointed. If either Landlord or Tenant fails to appoint an arbitrator within fifteen (15) days after the Outside Agreement Date, the arbitrator timely appointed
by one of them shall reach a decision and notify Landlord and Tenant of that decision within thirty (30) days after the arbitrator's appointment. The arbitrator's decision shall be binding on Landlord and Tenant. 

(vii) If Only Two Arbitrators Are Appointed. If each party appoints an arbitrator in a timely manner, but the
two (2) arbitrators fail to agree on and appoint a third arbitrator within the required period, the arbitrators shall be dismissed without delay and the issue of Fair Market Rental Value shall be submitted to binding arbitration under the real
estate arbitration rules of JAMS, subject to the provisions of this section. 
 (viii) If No Arbitrator Is
Appointed. If Landlord and Tenant each fail to appoint an arbitrator in a timely manner, the matter to be decided shall be submitted without delay to binding arbitration under the real estate arbitration rules of JAMS subject the provisions of
this Section 41.4(c). 
 (ix) Cost of Arbitration. The cost of the arbitration shall be paid by the
losing party." 

  
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 7. The following new Sections 44, 45 and 46 are added to the Lease: 

"44. Tenant's Right of First Offer. 
 44.1 As used herein, "Offer Space" means space in the buildings known as 1301 Harbor Bay Parkway and 1431 Harbor Bay Parkway, Alameda, California, so long as they are owned by Landlord. Tenant shall have
a continuing right of first offer on any Available (as defined below) Offer Space during the Term. Landlord may from time to time give Tenant a written notice (the "Availability Notice") identifying the particular Offer Space (the "Specific Offer
Space") that is Available (as defined below). As used herein, "Available" means that the space (i) is not part of the Premises, (ii) is not then subject to a lease, (iii) is not then subject to any rights of a tenant to renew their
lease or expand their premises as set forth in their lease, and (iv) is not then subject to any negotiations between Landlord and an existing tenant of that space. Tenant's rights under this Section 44 shall terminate and be of no further
force or effect upon Tenant's delivery of notice of its exercise of its termination right under Section 45 of this Lease. 

44.2 Tenant may inform Landlord (the "Request Notice") not more than twice in any twelve (12) month period and not within
three (3) months after receipt of an Availability Notice that Tenant desires to lease additional space. Landlord shall, within ten (10) business days of receiving the properly given Request Notice, deliver to Tenant an Availability Notice
identifying Specific Offer Space that is Available. 
 44.3 The location and configuration of the Specific Offer Space shall be
determined by Landlord in its reasonable discretion; provided that Landlord shall have no obligations to designate Specific Offer Space that would result in any space not included in the Specific Offer Space being not Configured For Leasing (as
defined below). For purposes of this Lease, "Configured For Leasing" means the applicable space must have convenient access to the central corridor on the applicable floor and must have a size and configuration that complies with all applicable
building codes and other laws and is such that Landlord judges, in its reasonable discretion, that Landlord will be able to lease such space to a third party. The Availability Notice shall: 

(a) Describe the particular Specific Offer Space (including rentable area, usable area and location); 

(b) Include an attached floor plan identifying such space; 

(c) State the date (the "Specific Offer Space Delivery Date") the space will be available for delivery to Tenant; and

 (d) Specify the Basic Annual Rent for the Specific Offer Space. 

(e) Specify the increase in the security deposit that will apply to reflect the addition of the Specific Offer Space to
the Premises. 
 (f) If the Specific Offer Space Delivery Date is after the third (3rd) anniversary of the
Extension Commencement Date, specify the length of the term of the leasing of the Specific Offer Space that will be available (the "Specific Offer Space Term"). 

  
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 44.4 If Tenant wishes to exercise Tenant's rights set forth in this Article 44 with respect
to the Specific Offer Space, then within five (5) business days of delivery of the Availability Notice to Tenant, Tenant shall deliver irrevocable notice to Landlord (the "First Offer Exercise Notice") offering to lease the Specific Offer Space
on the terms and conditions as may be specified by Landlord in the Availability Notice. 
 44.5 In the event Tenant fails to
give a First Offer Exercise Notice in response to any Availability Notice, Tenant shall have no further rights to receive an Availability Notice for such Specific Offer Space and Tenant's rights under this Article 44 shall terminate with
respect to such Specific Offer Space and Landlord shall be free to lease the Specific Offer Space to anyone on any terms at any time during the Term, without any obligation to provide Tenant with any further right to lease that Specific Offer Space.

 44.6 If Tenant timely and validly gives the First Offer Exercise Notice, then beginning on the Specific Offer Space Delivery
Date and continuing (i) if the Specific Offer Space Delivery Date is on or before the third (3rd) anniversary of the Extension Commencement Date, for the balance of the Term (including any extensions), or (ii) if the Specific Offer
Space Delivery Date is after the third (3rd) anniversary of the Extension Commencement Date, for the Specific Offer Space Term: 
 (a) The Specific Offer Space shall be part of the Premises under this Lease (so that the term "Premises" in this Lease shall refer to the space in the Premises immediately before the Specific Offer Space
Delivery Date plus the Specific Offer Space). 
 (b) Tenant's Pro Rata Share of Operating Expenses shall be
adjusted to reflect the increased rentable area of the Premises. 
 (c) Basic Annual Rent for the Specific Offer
Space shall be as specified in the Availability Notice. 
 (d) Tenant's lease of the Specific Offer Space shall
be on the same terms and conditions as affect the original Premises from time to time, except as otherwise provided in this section. Tenant's obligation to pay Rent with respect to the Specific Offer Space shall begin on the Offer Space Delivery
Date. The Specific Offer Space shall be leased to Tenant in its "as-is" condition and Landlord shall not be required to construct improvements in, or contribute any tenant improvement allowance for, the Specific Offer Space. Tenant's construction of
any improvements in the Specific Offer Space shall comply with the terms of this Lease concerning alterations. 

(e) If requested by Landlord, Landlord and Tenant shall confirm in writing the addition of the Specific Offer Space to the
Premises on the terms and conditions set forth in this section, but Tenant's failure to execute or deliver such written confirmation shall not affect the enforceability of the First Offer Exercise Notice. 

  
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 44.7 Tenant's rights and Landlord's obligations under this Article 44
are expressly subject to and conditioned upon there not existing a Default by Tenant under this Lease, either at the time of delivery of the First Offer Exercise Notice or at the time the Specific Offer Space is to be added to the Premises.

 44.8 It is understood and agreed that Tenant's rights under this Article 41 are personal to Tenant and
not transferable except in connection with a Permitted Assignment. In the event of any assignment of the Lease (other than a Permitted Assignment) or subletting (other than a Permitted Sublease) of the Premises or any part thereof, this expansion
right shall automatically terminate and shall thereafter be null and void. 
 45. Right to Terminate. As used in this Lease, the term
"1401 Fourth Amendment" means the Fourth Amendment to Lease that adds this Section 45 to this Lease. Provided Tenant is not in Default beyond any applicable cure periods under any provision of this Lease at the time Tenant exercises its
termination right, Tenant shall have the one-time right to terminate this Lease effective as of April 30, 2014 (the "Early Termination Date") upon satisfaction of each of the conditions set forth in this Section 45. Tenant's right to
terminate the Lease under this Section 45 shall not apply to Tenant's lease of any Specific Offer Space. If Tenant wishes to exercise its right to terminate this Lease, Tenant must (a) deliver written notice to Landlord by no later than
November 30, 2013 (the "Termination Notice Date") of its election to terminate; and (b) pay to Landlord in good funds on or before the Termination Notice Date the Early Termination Fee (as defined below). If Tenant exercises its
termination right in accordance with the terms of this Section 45, (a) the Early Termination Date shall thereafter be deemed the effective termination date for all purposes under this Lease, (b) any rights of Tenant to expand the
Premises or extend the term of this Lease shall be of no further force or effect and (c) Tenant shall vacate the Premises prior to the Early Termination Date and shall comply with all terms of this Lease with respect to the condition of the
Premises as of the Expiration Date and the terms of surrender thereof. As used herein, the term "Early Termination Fee" means an amount equal to 40% of the sum of (a) $537,491.00 (the "Commission Amount"), plus (b) the amount of the Basic
Allowance (as defined in the 1401 Fourth Amendment) actually used by Tenant (whether for construction, rent credits or to pay this Early Termination Fee), plus (c) an amount equal to 4% of the Commission Amount and the Basic Allowance
actually used by Tenant. To the extent the Basic Allowance has not been disbursed under the 1401 Fourth Amendment, then Tenant may elect by notice to Landlord on or before the Termination Notice Date to apply the unfunded amount of the Basic
Allowance to payment of the Early Termination Fee under this Section 45. For example, if no portion of the Basic Allowance has been funded to reimburse Tenant for Tenant's Work Costs or applied to the payment of Basic Rent, the entire Basic
Allowance may be applied by Tenant to payment of the Early Termination Fee. To the extent Tenant elects to apply all or any portion of the Basic Allowance to payment of the Early Termination Fee, (i) Tenant shall have no further right to
receive such portion of the Basic Allowance applied against the Early Termination Fee or apply the portion of the Basic Allowance applied against the Early Termination Fee to payment of Basic Rent under the 1401 Fourth Amendment, (ii) the
amount of the remaining Basic Allowance shall be reduced by the amount of the Early Termination Fee that would have been payable with respect to that remaining portion had it been applied in full against the Early Termination Fee on the Termination
Notice Date (the amount of the remaining Basic Allowance after that reduction being referred to as the "Net Remaining Basic Allowance"), and (iii) Tenant may apply all or any portion of the Net Remaining Basic Allowance against subsequent Basic
Rent under the 1401 Fourth Amendment. 

  
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 46. Right to Expand. As used in this Lease, (a) the term "1311 Building" means
the building commonly known as 1311 Harbor Bay Parkway, Alameda, California 94502, and (b) the term "Existing 1311 Lease" means that certain Lease Agreement dated March 27, 2001, as amended by a First Amendment to Lease dated
April 12, 2002, a Second Amendment to Lease dated July 16, 2004, and a Third Amendment to Lease dated April 27, 2005, as further amended by the 1401 Fourth Amendment. Provided Tenant is not in Default beyond any applicable cure
periods under any provision of this Lease at the time Tenant exercises such option to expand, Tenant shall have the option to lease the 1311 Building by written notice to Landlord no later than March 15, 2011. If Tenant timely exercises its
right to lease the 1311 Building as set forth herein, then, within forty-five (45) days thereafter, Landlord and Tenant shall execute an amendment to the Existing 1311 Lease (the "Expansion Space Amendment"), which Expansion Space Amendment
shall be upon substantially the same terms and conditions as 1401 Fourth Amendment with the following modifications: 
 46.1 Defined terms used in the 1401 Fourth Amendment and not specifically defined in the 1401 Fourth Amendment shall be revised to conform to the corresponding defined terms in the 1311 Lease. For
example, references to "Basic Annual Rent" shall instead be references to "Base Rent." 
 46.2 The rent for the
1311 Building shall be as follows: 
  

									
	 Period
	  	Annual Base Rent	 	  	Monthly Base Rent	 
	 05/01/2011 - 04/30/2012
	  	$	499,410.00	  	  	$	41,617.50	  
	 05/01/2012 - 04/30/2013
	  	$	514,392.30	  	  	$	42,866.03	  
	 05/01/2013 - 04/30/2014
	  	$	529,824.07	  	  	$	44,152.01	  
	 05/01/2014 - 04/30/2015
	  	$	545,718.79	  	  	$	45,476.57	  
	 05/01/2015 - 04/30/2016
	  	$	562,090.35	  	  	$	46,840.86	  

 46.3
Articles 44 and 46, added to this Lease pursuant to Section 7 of the 1401 Fourth Amendment, shall not be included in the Expansion Space Amendment 
 46.4 The right to terminate contained in Article 45, added to this Lease pursuant to Section 7 of the 1401 Fourth Amendment, shall apply, except that the amount of the Early Termination Fee shall be
calculated based on the commissions and tenant improvement allowance applicable to the 1311 Building. 
 46.5
Sections 2, 8 and 20 of the 1401 Fourth Amendment shall not be included in the Expansion Space Amendment. 
 46.6
The sentence added to this Lease by Section 9 of the 1401 Fourth Amendment shall control over any inconsistent provisions of this Existing 1311 Lease. 

  
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 46.7 The amount of the Basic Allowance under Section 11 of the 1401 Fourth Amendment
applicable to the 1311 Building shall be $277,450.00 and the amount of the Restroom Allowance under Section 11 of the 1401 Fourth Amendment applicable to the 1311 Building shall be $80,000.00." 

8. Tenant shall have the right to building standard interior signage at the entrance to the Premises and in the Building lobby as well as
the right to building standard directory signage, subject to the limitations set forth below. Landlord hereby approves of Tenant’s existing monument signage (the "Monument Signage") on the Building monument sign identifying Tenant's name. Any
changes to the graphics, materials, color, design, lettering, size and specifications of Tenant's Monument Signage shall be subject to the approval of Landlord, HBBPA, EPCOA, and all applicable governmental authorities and shall conform to
Landlord's approved sign plan for the Building and the Project. At the expiration or earlier termination of this Lease or termination of Tenant's sign rights as provided below, Tenant shall, at Tenant's sole cost and expense, cause the Monument
Signage to be removed and the area of the monument sign affected by the Monument Signage to be restored to the condition existing prior to the installation of Tenant's Monument Signage. The right to Monument Signage is personal to Celera
Corporation, but may be assigned to an assignee of Tenant's entire interest in the Lease pursuant to a Permitted Assignment. 

9. The last sentence of Section 35.3 of the Lease is hereby amended in its entirety to read as follows: 

"Landlord agrees to use reasonable efforts to deliver to Tenant from any future mortgagee or beneficiary a written
subordination and non-disturbance agreement in recordable form reasonably acceptable to such mortgagee or beneficiary and Tenant providing that so long as Tenant performs all of the terms of this Lease, Tenant's possession under this Lease shall not
be disturbed and Tenant shall not be joined by the holder of any mortgage or deed of trust in any action or proceeding to foreclose thereunder, except where such is necessary for jurisdictional or procedural reasons. In the event that Tenant
proposes or attempts to negotiate material deviations from the lender's commercially reasonable form of subordination and non-disturbance agreement in a manner that is inconsistent with the terms and conditions of this Lease, Tenant shall pay all
costs incurred by Landlord in obtaining that subordination and non-disturbance agreement after the initial delivery of the lender's form of subordination and non-disturbance agreement to Tenant." 

10. Landlord's addresses are hereby changed to the following: 

			
	 Addresses for Notices:

		
		  	c/o The Prudential Insurance Company of America
		  	8 Campus Drive, 4th Floor
		  	Parsippany, New Jersey 07054
		  	Attention: Daniel McKeever
	
	 With a copy by the same method to:

		
		  	c/o The Prudential Insurance Company of America
		  	8 Campus Drive, 4th Floor
		  	Parsippany, New Jersey 07054
		  	Attention: Greg Shanklin, Esquire
	
	 With a copy by the same method to:

		
		  	c/o SKS Investments
		  	601 California Street, Suite 1310
		  	San Francisco, California 94108
		  	Attention: Pamela Izzo
	
	 Address for rental payments:

		
		  	SKS Harbor Bay Associates, LLC
		  	c/o CAC Real Estate Management Co., Inc.
		  	111 Sutter Street, Suite 350
		  	San Francisco, California 94104

 11.
Landlord and Tenant acknowledge that Tenant may desire to make certain alterations to the Premises in accordance with Article 17 of the Lease ("Tenant's Work"). As part of Tenant’s Work, Tenant shall renovate the restrooms in the Building
with new interior finishes and fixtures comparable to the recently remodeled bathrooms located upstairs in the 1311 Building. So long as no monetary Default shall be existing under the Lease (as amended by this Agreement) as of the date Tenant
requests reimbursement of the Allowance (as defined below), Landlord agrees to reimburse Tenant up to, and not to exceed the sum of $477,770.00 (the "Basic Allowance") plus $160,000.00 (the "Restroom Allowance"). (The Basic Allowance and the
Restroom Allowance are referred to herein collectively as, the "Allowance"). Landlord shall pay the Allowance to Tenant within thirty (30) days after delivery to Landlord of "Tenant's Completion Notice" (as defined below) according to the terms
and conditions of this Section 11. The Allowance shall be used to reimburse Tenant for hard and/or soft costs incurred in connection with Tenant's Work ("Tenant's Work Costs"); provided, however, in no event shall the Allowance be used to pay
for any of Tenant's furniture, trade fixtures, equipment or moving costs and in no event shall the Restroom Allowance be used for any purposes other than renovating the restrooms in the Building. Upon the completion of Tenant's Work, Tenant shall
submit to Landlord a written notice indicating that Tenant has completed the construction and performance of Tenant's Work in accordance with the provisions of Article 17 of the Lease, as amended by this Agreement, which notice shall be
accompanied by all of the following (collectively, "Tenant's Completion Notice"): (i) copies of paid invoices and a final, unconditional lien waiver from Tenant's general contractor covering all of Tenant's Work in a form that complies with
applicable laws, showing that full payment has been received for the construction of Tenant's Work; (ii) if applicable, certification from Tenant's architect that all of Tenant's Work has been completed substantially in accordance with the
plans and specifications therefor (approved by Landlord, to the extent Landlord's approval of such plans and specifications was required under Article 17 of the Lease, as amended by this Agreement) and all local governmental and
quasi-governmental authorities with jurisdiction; and (iii) a copy of the building permit for Tenant's Work, if applicable, signed by the appropriate building inspector, indicating that Tenant's Work has been finally approved. Any portion of
the Basic Allowance may be applied by Tenant to the payment of Basic Rent or to payment of the Early Termination Fee. Notwithstanding anything to the contrary contained in the Lease as amended, so long as Tenant has not requested that Landlord
supervise the Tenant's Work, Landlord shall not charge Tenant the five percent (5%) overhead fee provided in Section 17.9 of the Lease or any fee or other charge for the supervision and/or overhead associated with the Tenant’s Work.
Additionally, notwithstanding anything to the contrary contained in the Lease, as amended, so long as Tenant uses a general contractor designated by Landlord or Landlord has otherwise agreed in writing to waive the requirement for a lien and
completion bond in connection with Landlord's approval of a different general contractor, Tenant shall have no obligation to provide Landlord with a lien and completion bond in connection with Tenant’s Work. Landlord hereby approves Rossi as
Tenant's general contractor and agrees that a lien and completion bond will not be required if Tenant uses Rossi as its general contractor. Landlord further agrees that prior to Tenant selecting a general contractor, Tenant may inquire of Landlord
as to whether one or more proposed general contractors would be required to provide a lien and completion bond and Landlord agrees to promptly respond to that inquiry confirming to Tenant whether or not a particular general contractor will be
required to provide a lien and completion bond. 

  
 -11-

 12. Except as otherwise provided herein, all of the terms and conditions of the Lease shall
continue to apply during the Second Extension Term; provided, however, that there shall be no rent credit, and that there shall be no improvement allowance, Landlord construction obligations or other initial concessions with respect to the Second
Extension Term, except as provided in Section 11 of this Agreement. 
 13. Landlord hereby represents and warrants to
Tenant that it has dealt with no broker, finder or similar person in connection with this Agreement, and Tenant hereby represents and warrants to Landlord that it has dealt with no broker, finder or similar person in connection with this Agreement,
other than GVA Kidder Mathews ("Landlord's Broker") and Peninsula Land & Capital ("Tenant's Broker"). Landlord and Tenant shall each defend, indemnify and hold the other harmless with respect to all claims, causes of action, liabilities,
losses, costs and expenses (including without limitation attorneys' fees) arising from a breach of the foregoing representation and warranty. The commission with respect to this Agreement shall be paid to Landlord's Broker by Landlord pursuant to a
separate agreement. Landlord will cause Tenant’s Broker to be paid a commission pursuant to a separate agreement. 
 14. As
additional consideration for this Agreement, Tenant hereby certifies that: 
 (a) The Lease (as amended hereby)
is in full force and effect. 
 (b) Tenant is in possession of the Premises. 

(c) To Tenant's knowledge, there are no uncured defaults on the part of Landlord or Tenant under the Lease. 

  
 -12-

 (d) To Tenant's knowledge, all of Landlord's obligations with respect to
construction of tenant improvements in the Premises and payment of Tenant improvement allowances have been satisfied, except those provided for in Section 11 of this Agreement. 

(e) To Tenant's knowledge, there are no existing offsets or defenses which Tenant has against the enforcement of the Lease
(as amended hereby) by Landlord. 
 15. Except as specifically provided herein, the terms and conditions of the Lease as amended
hereby are confirmed and continue in full force and effect. This Agreement shall be binding on the heirs, administrators, successors and assigns (as the case may be) of the parties hereto. This Agreement and the attached exhibits, which are hereby
incorporated into and made a part of this Agreement, set forth the entire agreement between the parties with respect to the matters set forth herein. There have been no additional oral or written representations or agreements. Under no circumstances
shall Tenant be entitled to any Rent abatement, improvement allowance, leasehold improvements, or other work to the Premises, or any similar economic incentives that may have been provided to Tenant in connection with entering into the Lease, unless
specifically set forth in this Agreement. In the case of any inconsistency between the provisions of the Lease and this Agreement, the provisions of this Agreement shall govern and control. Landlord and Tenant shall not be bound by this Agreement
until both Landlord and Tenant have executed and delivered the same to the other. Time is of the essence of this Agreement and the provisions contained herein. 
 16. Effective as of the date hereof, all references to the "Lease" shall refer to the Lease, as amended by this Agreement. 
 17. As an inducement to Landlord to enter into this Lease Agreement, Tenant hereby represents and warrants that: Tenant is not named on any list issued by the Office of Foreign Assets Control of the
United States Department of the Treasury ("OFAC") pursuant to Executive Order 13224 or any similar list or any law, order, rule or regulation or any Executive Order of the President of the United States as a terrorist, "Specially Designated
National and Blocked Person" or other banned or blocked person (any such person, group, entity or nation being hereinafter referred to as a "Prohibited Person"). Tenant and Landlord covenant and agree to comply with all requirements of law relating
to money laundering, anti-terrorism, trade embargos and economic sanctions, now or hereafter in effect. 
 18. Tenant represents
and warrants to the best of its knowledge after due inquiry that at the time this Agreement is entered into, neither Tenant nor its affiliates (within the meaning of part V(c) of Department of Labor Prohibited Transaction Class Exemption 84-14
(“PTE 84-14”), as amended) has the authority to appoint or terminate The Prudential Insurance Company of America (“Prudential”) as an investment manager to any assets of Prudential's insurance company separate account Western
Conference of Teamsters ("WCOT"), nor the authority to negotiate the terms of any management agreement between Prudential and WCOT. 
 19. Landlord and Tenant hereby acknowledge and agree that it is not a purpose of the Lease or any of the transactions contemplated herein to exert influence in any manner over the reason or judgment of
any party with respect to the referral of patients or business of any nature whatsoever. Landlord and Tenant hereby agree that the terms of this Agreement have been negotiated and determined at arm's length, as such terms would be negotiated and
determined by unrelated parties and do not take into account the volume or value of referrals or business that may otherwise be generated between the parties for which payment may be made in whole or in part under Medicare, Medicaid or other Federal
health care programs. 

  
 -13-

 20. Landlord and Tenant hereby agree that the Existing 1311 Lease (as defined in
Article 46 of the Lease (as amended by this Agreement)) is hereby amended as follows: (a) the term of the Existing 1311 Lease is hereby extended for a period of six (6) months from May 1, 2011, through October 31, 2011 (the
"Short Term Extension"), (b) the monthly installment of Base Rent payable under the Existing 1311 Lease during the Short Term Extension shall be in the amount of $41,617.50, (c) Tenant shall have no rights to extend the term of the
Existing 1311 Lease other than as provided in Article 46 of the Lease (as amended by this Agreement), and (d) in the event Tenant exercises its right to expand as provided in Section 46 added to the Lease pursuant to Section 7 of
this Agreement, the extension of the term of the Existing 1311 Lease provided for in this Section 20 of this Agreement shall be of no further force or effect. 
 IN WITNESS WHEREOF, this Agreement was executed as of the date first above written. 
  

			
	Landlord:	 	
	
	 SKS HARBOR BAY ASSOCIATES, LLC,
 a Delaware limited liability company

  

			
	 By:
	 	 The Prudential Insurance Company
 of America, its Managing Member

  

			
	By:	 	 /s/ DANIEL McKEEVAN

	  	 	Daniel McKeevan, Vice President

  
 -14-

 
			
	 Tenant:
  
	 	
	 CELERA CORPORATION,

a Delaware corporation

  

			
	By:	 	 /s/ KATHY ORDOÑEZ

	  	 	Kathy Ordoñez, Chief Executive Officer

  
 -15-LOAN AGREEMENT

 Exhibit 10.1 

 
  

 
 LOAN AGREEMENT 

between 

BROADWAY 500 WEST MONROE FEE LLC, 
 as Borrower 
 and 

MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS LLC, 
 as Lender 
 Dated as of July 11, 2007 

 
  

 

 TABLE OF CONTENTS 

 

									
	 	  	 	  	 	  	Page	 
	
	 ARTICLE I
  

DEFINITIONS; PRINCIPLES OF CONSTRUCTION
	   
 
   

			
	 Section 1.1
	  	Definitions	  	 	8	  
	 Section 1.2
	  	Principles of Construction	  	 	34	  
	
	ARTICLE II	  
	
	GENERAL TERMS	  
			
	 Section 2.1
	  	Loan Commitment; Disbursement to Borrower	  	 	34	  
		  	2.1.1	  	Agreement to Lend and Borrow	  	 	34	  
		  	2.1.2	  	Single Disbursement to Borrower	  	 	34	  
		  	2.1.3	  	The Note, Security Instrument and Loan Documents	  	 	34	  
		  	2.1.4	  	Use of Proceeds	  	 	34	  
	 Section 2.2
	  	Interest; Loan Payments; Late Payment Charge	  	 	35	  
		  	2.2.1	  	Payments	  	 	35	  
		  	2.2.2	  	Interest Calculation	  	 	36	  
		  	2.2.3	  	Eurodollar Rate or Substitute Rate Unascertainable; Illegality; Increased Costs	  	 	36	  
		  	2.2.4	  	Intentionally Deleted	  	 	39	  
		  	2.2.5	  	Payment on Maturity Date	  	 	39	  
		  	2.2.6	  	Payments after Default	  	 	39	  
		  	2.2.7	  	Late Payment Charge	  	 	39	  
		  	2.2.8	  	Indemnified Taxes	  	 	40	  
		  	2.2.9	  	Treatment of Certain Refunds or Credits	  	 	41	  
		  	2.2.10	  	Usury Savings	  	 	41	  
	 Section 2.3
	  	Prepayments	  	 	42	  
		  	2.3.1	  	Voluntary Prepayments	  	 	42	  
		  	2.3.2	  	Mandatory Prepayments	  	 	43	  
		  	2.3.3	  	Prepayments After Default	  	 	43	  
		  	2.3.4	  	Making of Payments	  	 	43	  
		  	2.3.5	  	Application of Principal Prepayments	  	 	43	  
	 Section 2.4
	  	Interest Rate Cap Agreement	  	 	44	  
	 Section 2.5
	  	Release of Property	  	 	46	  
		  	2.5.1	  	Intentionally Deleted	  	 	46	  
		  	2.5.2	  	Release on Payment in Full	  	 	46	  

  
 -i-

									
	ARTICLE III	  
	
	INTENTIONALLY OMITTED	  
	
	ARTICLE IV	  
	
	REPRESENTATIONS AND WARRANTIES	  
			
	 Section 4.1
	  	Borrower Representations	  	 	47	  
		  	4.1.1	  	Organization	  	 	47	  
		  	4.1.2	  	Proceedings	  	 	47	  
		  	4.1.3	  	No Conflicts	  	 	47	  
		  	4.1.4	  	Litigation	  	 	47	  
		  	4.1.5	  	Agreements	  	 	48	  
		  	4.1.6	  	Solvency	  	 	48	  
		  	4.1.7	  	Full and Accurate Disclosure	  	 	48	  
		  	4.1.8	  	No Plan Assets	  	 	49	  
		  	4.1.9	  	Compliance	  	 	49	  
		  	4.1.10	  	Financial Information	  	 	49	  
		  	4.1.11	  	Condemnation	  	 	49	  
		  	4.1.12	  	Federal Reserve Regulations	  	 	49	  
		  	4.1.13	  	Utilities and Public Access	  	 	50	  
		  	4.1.14	  	Not a Foreign Person	  	 	50	  
		  	4.1.15	  	Separate Lots	  	 	50	  
		  	4.1.16	  	Assessments	  	 	50	  
		  	4.1.17	  	Enforceability	  	 	50	  
		  	4.1.18	  	No Prior Assignment	  	 	50	  
		  	4.1.19	  	Insurance	  	 	50	  
		  	4.1.20	  	Use of Property	  	 	50	  
		  	4.1.21	  	Certificate of Occupancy; Licenses	  	 	50	  
		  	4.1.22	  	Flood Zone	  	 	51	  
		  	4.1.23	  	Physical Condition	  	 	51	  
		  	4.1.24	  	Boundaries	  	 	51	  
		  	4.1.25	  	Leases	  	 	51	  
		  	4.1.26	  	Survey	  	 	52	  
		  	4.1.27	  	Loan to Value	  	 	52	  
		  	4.1.28	  	Filing and Recording Taxes	  	 	52	  
		  	4.1.29	  	[Intentionally Omitted]	  	 	53	  
		  	4.1.30	  	Management Agreement	  	 	53	  
		  	4.1.31	  	Illegal Activity	  	 	53	  
		  	4.1.32	  	No Change in Facts or Circumstances; Disclosure	  	 	53	  
		  	4.1.33	  	Investment Company Act	  	 	53	  
		  	4.1.34	  	Principal Place of Business; State of Organization	  	 	53	  
		  	4.1.35	  	Single Purpose Entity	  	 	54	  
		  	4.1.36	  	Business Purposes	  	 	58	  
		  	4.1.37	  	Taxes	  	 	58	  

  
 -ii-

									
		  	4.1.38	  	Forfeiture	  	 	58	  
		  	4.1.39	  	Environmental Representations and Warranties	  	 	58	  
		  	4.1.40	  	Taxpayer Identification Number	  	 	59	  
		  	4.1.41	  	OFAC	  	 	59	  
		  	4.1.42	  	Standard Form of Lease	  	 	59	  
		  	4.1.43	  	Accounts	  	 	59	  
		  	4.1.44	  	Embargoed Person	  	 	60	  
		  	4.1.45	  	Pre-Existing Liabilities. Borrower hereby represents with respect to Borrower that it:	  	 	61	  
	Section 4.2	  	Survival of Representations	  	 	61	  
	
	ARTICLE V	  
	
	BORROWER COVENANTS	  
			
	Section 5.1	  	Affirmative Covenants	  	 	62	  
		  	5.1.1	  	Existence; Compliance with Legal Requirements	  	 	62	  
		  	5.1.2	  	Taxes and Other Charges	  	 	63	  
		  	5.1.3	  	Litigation	  	 	63	  
		  	5.1.4	  	Access to the Property	  	 	63	  
		  	5.1.5	  	Notice of Default	  	 	63	  
		  	5.1.6	  	Cooperate in Legal Proceedings	  	 	64	  
		  	5.1.7	  	Award and Insurance Benefits	  	 	64	  
		  	5.1.8	  	Further Assurances	  	 	64	  
		  	5.1.9	  	Mortgage and Intangible Taxes	  	 	65	  
		  	5.1.10	  	Financial Reporting	  	 	65	  
		  	5.1.11	  	Business and Operations	  	 	69	  
		  	5.1.12	  	Costs of Enforcement	  	 	69	  
		  	5.1.13	  	Estoppel Statement	  	 	69	  
		  	5.1.14	  	Loan Proceeds	  	 	69	  
		  	5.1.15	  	Performance by Borrower	  	 	69	  
		  	5.1.16	  	Confirmation of Representations	  	 	70	  
		  	5 1.17	  	Leasing Matters	  	 	70	  
		  	5.1.18	  	Management Agreement	  	 	73	  
		  	5.1.19	  	Environmental Covenants	  	 	75	  
		  	5.1.20	  	Alterations	  	 	76	  
		  	5.1.21	  	OFAC	  	 	77	  
	Section 5.2	  	Negative Covenants	  	 	77	  
		  	5.2.1	  	Liens	  	 	77	  
		  	5.2.2	  	Dissolution	  	 	77	  
		  	5.2.3	  	Change in Business	  	 	77	  
		  	5.2.4	  	Debt Cancellation	  	 	78	  
		  	5.2.5	  	Zoning	  	 	78	  
		  	5.2.6	  	No Joint Assessment	  	 	78	  
		  	5.2.7	  	Name, Identity, Structure, or Principal Place of Business
	  	 	78	  
		  	5.2.8	  	ERISA	  	 	78	  

  
 -iii-

									
		  	5.2.9	  	Affiliate Transactions	  	 	79	  
		  	5.2.10	  	Transfers	  	 	79	  
		  	5.2.11	  	Permitted Transfer	  	 	81	  
	Section 5.3	  	Transfer Fee	  	 	82	  
	
	ARTICLE VI	  
	
	INSURANCE; CASUALTY; CONDEMNATION	  
			
	Section 6.1	  	Insurance	  	 	82	  
	Section 6.2	  	Casualty	  	 	87	  
	Section 6.3	  	Condemnation	  	 	87	  
	Section 6.4	  	Restoration	  	 	88	  
	
	ARTICLE VII	  
	
	RESERVE FUNDS	  
			
	Section 7.1	  	Required Repairs	  	 	93	  
	Section 7.2	  	Tax and Insurance Escrow Fund	  	 	93	  
	Section 7.3	  	Intentionally Deleted	  	 	95	  
	Section 7.4	  	Rollover Replacement Reserve	  	 	95	  
		  	7.4.1	  	Deposits into the Rollover/Replacement Reserve Account	  	 	95	  
		  	7.4.2	  	Disbursements from the Rollover/Replacement Reserve Account	  	 	95	  
	Section 7.5	  	Intentionally Omitted	  	 	99	  
	Section 7.6	  	Intentionally Omitted	  	 	99	  
	Section 7.7	  	Debt Service Shortfall Reserve Funds	  	 	99	  
		  	7.7.1	  	Deposits into the Debt Service Shortfall Reserve Fund	  	 	99	  
		  	7.7.2	  	Withdrawals from the Debt Service Shortfall Reserve Fund	  	 	99	  
	Section 7.8	  	Reserve Funds, Generally	  	 	99	  
	Section 7.9	  	Provisions Regarding Letters of Credit	  	 	100	  
		  	7.9.1	  	Letters of Credit Generally	  	 	100	  
		  	7.9.2	  	Event of Default	  	 	100	  
		  	7.9.3	  	Security for Debt	  	 	101	  
		  	7.9.4	  	Additional Rights of Lender	  	 	101	  
		  	7.9.5	  	Reduction of Letter of Credit	  	 	101	  
		  	7.9.6	  	Limitations on Guaranties and Letters of Credit	  	 	101	  
	
	ARTICLE VIII	  
	
	DEFAULTS	  
			
	Section 8.1	  	Event of Default	  	 	102	  
	Section 8.2	  	Remedies	  	 	105	  
	Section 8.3	  	Remedies Cumulative; Waivers	  	 	106	  

  
 -iv-

									
	ARTICLE IX	  
	
	SPECIAL PROVISIONS	  
			
	Section 9.1	  	Sale of Notes and Securitization	  	 	107	  
	Section 9.2	  	Securitization Indemnification	  	 	109	  
	Section 9.3	  	Servicer	  	 	111	  
	Section 9.4	  	Exculpation	  	 	111	  
	Section 9.5	  	Resizing	  	 	113	  
	Section 9.6	  	Replacement Guarantor	  	 	115	  
	Section 9.7	  	Syndication	  	 	115	  
		  	9.7.1	  	Syndication	  	 	115	  
		  	9.7.2	  	Sale of Loan, Co-Lenders, Participations and Servicing	  	 	115	  
	
	ARTICLE X	  
	
	MISCELLANEOUS	  
			
	Section 10.1	  	Survival	  	 	118	  
	Section 10.2	  	Lender’s Discretion	  	 	118	  
	Section 10.3	  	Governing Law	  	 	118	  
	Section 10.4	  	Modification, Waiver in Writing	  	 	119	  
	Section 10.5	  	Delay Not a Waiver	  	 	119	  
	Section 10.6	  	Notices	  	 	119	  
	Section 10.7	  	Trial by Jury	  	 	121	  
	Section 10.8	  	Headings	  	 	121	  
	Section 10.9	  	Severability	  	 	121	  
	Section 10.10	  	Preferences	  	 	121	  
	Section 10.11	  	Waiver of Notice	  	 	121	  
	Section 10.12	  	Remedies of Borrower	  	 	122	  
	Section 10.13	  	Expenses; Indemnity	  	 	122	  
	Section 10.14	  	Schedules and Exhibits Incorporated	  	 	123	  
	Section 10.15	  	Offsets, Counterclaims and Defenses	  	 	123	  
	Section 10.16	  	No Joint Venture or Partnership; No Third Party Beneficiaries	  	 	123	  
	Section 10.17	  	Publicity	  	 	123	  
	Section 10.18	  	Waiver of Marshalling of Assets	  	 	124	  
	Section 10.19	  	Waiver of Counterclaim	  	 	124	  
	Section 10.20	  	Conflict; Construction of Documents; Reliance	  	 	124	  
	Section 10.21	  	Brokers and Financial Advisors	  	 	124	  
	Section 10.22	  	Prior Agreements	  	 	125	  
	Section 10.23	  	Counterparts	  	 	125	  
		
	EXHIBITS AND SCHEDULES	  			
			
	SCHEDULE I	  	Rent Roll/Leases	  			
	SCHEDULE II	  	[Reserved]	  			
	SCHEDULE III	  	Required Repairs – Deadlines for Completion	  			

  
 -v-

			
	 SCHEDULE IV
	  	Organizational Chart of Borrower
	SCHEDULE V	  	Forms of Certificates for Financial Reporting
	SCHEDULE V-A	  	Form of Certificate with respect to Annual and Quarterly Financials
	SCHEDULE V-B	  	Form of Certificate with respect to Monthly Financials
	SCHEDULE VI	  	Litigation
	SCHEDULE VII	  	Intentionally Deleted
	SCHEDULE VIII	  	Intentionally Deleted
	SCHEDULE IX	  	Standard Form of Lease
	SCHEDULE X	  	Form of Draw Request
	SCHEDULE XI	  	Tenant Direction Letter
	SCHEDULE XII	  	[Reserved]
	SCHEDULE XIII	  	Intentionally Deleted
	SCHEDULE XIV	  	Form of Certificate for Replacements from the Rollover/Replacement Reserve Funds
	SCHEDULE XV	  	Form of Certificate with respect to disposition of Cash Security Deposit
	SCHEDULE XVI	  	Form of Certificate with respect to disposition of Letter of Credit Security Deposit
	SCHEDULE XVII	  	Form of Non-disturbance Agreement
	SCHEDULE XVIII	  	Form of Officer’s Certificate with respect to Leasing Expenses from the Rollover/Replacement Reserve Funds

  
 -vi-

 LOAN AGREEMENT 
 THIS LOAN AGREEMENT, dated as of July 11, 2007 (as amended, restated, replaced, supplemented or otherwise modified from time to time, this “Agreement”), between MORGAN STANLEY
MORTGAGE CAPITAL HOLDINGS LLC, a New York limited liability company, having an address at 1221 Avenue of the Americas, New York, New York 10020 (“Lender”) and BROADWAY 500 WEST MONROE FEE LLC, a Delaware limited liability
company, having its principal place of business at c/o Broadway Partners, 375 Park Avenue, Suite 2107, New York, New York 10152 (“Borrower”). 
 W I T N E S S E T H: 
 WHEREAS, Borrower desires to obtain the Loan (as hereinafter defined) from Lender; and 
 WHEREAS, Lender is willing to make the Loan to Borrower, subject to and in accordance with the terms of this Agreement and the other Loan Documents (as hereinafter defined); and 

NOW THEREFORE, in consideration of the making of the Loan by Lender and the covenants, agreements, representations and warranties set
forth in this Agreement, the parties hereto hereby covenant, agree, represent and warrant as follows: 
 ARTICLE I

 DEFINITIONS; PRINCIPLES OF CONSTRUCTION 
 Section 1.1 Definitions. For all purposes of this Agreement, except as otherwise expressly required or unless the context clearly indicates a contrary intent: 

“Acceptable Counterparty” means any Counterparty to the Interest Rate Cap Agreement that has and shall maintain,
until the expiration of the applicable Interest Rate Cap Agreement, a Minimum Counterparty Rating. 
 “Acceptable
Guarantor” means a Person which (A) owns a direct or indirect equity interest in Borrower and (B) is a creditworthy entity in Lender’s reasonable determination (including sufficient net worth and liquidity). 

“Account Collateral” shall mean: (i) the Accounts and the Lockbox Account, and all Cash, checks, drafts,
certificates and instruments, if any, from time to time deposited or held in the Accounts and the Lockbox Account from time to time, including, without limitation, all deposits or wire transfers made to the Accounts and the Lockbox Account;
(ii) any and all amounts invested in Permitted Investments; (iii) all interest, dividends, Cash, instruments, investment property and other property from time to time received, receivable or otherwise payable in respect of, or in exchange
for, any or all of the foregoing; and (iv) to the extent not 

 
covered by clauses (i) through (iii) above, all “proceeds” (as defined under the UCC as in effect in the State of New York) of any or all of the foregoing. 

“Accounts” shall have the meaning set forth in the Cash Management Agreement. 

“Accrual Period” shall mean, in connection with the calculation of interest accrued with respect to any specified
Payment Date, the period commencing on the fifteenth (15th) day of the prior calendar month and ending on the fourteenth (14th) day of the calendar month in which such Payment Date occurs; provided, however, the initial
Accrual Period shall be the period commencing on the Closing Date and ending on July 14, 2007. Each Accrual Period shall be a full month and shall not be shortened by reason of any payment of the Loan prior to the expiration of such Accrual
Period. 
 “Acquired Property” shall have the meaning set forth in Section 5.1.10(g)(i) hereof.

 “Acquired Property Statements” shall have the meaning set forth in Section 5.1.10(g)(i) hereof.

 “Act” shall have the meaning set forth in Section 4.1.35(hh) hereof. 

“Actual Required Payment” shall have the meaning specified in Section 2.3.1. 

“Affiliate” shall mean, as to any Person, any other Person that, directly or indirectly, owns more than forty
percent (40%) of, is in control of, is controlled by or is under common ownership or control with such Person or is a controlling director or controlling officer of such Person or of an Affiliate of such Person. Such term shall include
Guarantor unless otherwise specified or if the context may otherwise require. 
 “Affiliated Loans”
shall have the meaning set forth in 5.1.10(1) hereof. 
 “Affiliated Manager” shall mean any
property manager which is an Affiliate of, or in which Borrower, Principal, or Guarantor has, directly or indirectly, any legal, beneficial or economic interest. 
 “Agent Bank” shall mean KeyCorp Real Estate Capital Markets, Inc., and any successor Eligible Institution thereto. 

“Aggregate Debt Service” shall mean the aggregate Debt Service for the Loan and the Mezzanine Loan. 

“Agent” shall have the meaning set forth in Section 9.7.2(d) hereof. 

“ALTA” shall mean American Land Title Association or any successor thereto. 

“Alteration Security Threshold” shall have the meaning set forth in Section 5.1.20 hereof. 

  
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 “Alteration Threshold Amount” shall mean an amount equal to
$6,500,000 provided, however, that for so long as the Mezzanine Loan D is outstanding, the Alteration Threshold Amount shall equal $2,500,000.00. 
 “Annual Budget” shall mean the operating budget, including Borrower’s good faith estimate of all planned capital expenditures, for the Property prepared by Borrower for the
applicable calendar year or other period. 
 “Applicable Interest Rate” shall mean (A) from and
including the Closing Date through and including July 14, 2007, an interest rate per annum equal to 6.3437%; and (B) for the Accrual Period commencing on July 15, 2007 and for each successive Accrual Period through and including the
date on which the Debt is paid in full, an interest rate per annum equal to (I) the Eurodollar Rate or (II) the Substitute Rate plus the Substitute Spread, if the Loan is a Substitute rate Loan in accordance with the provisions of
Section 2.2.3 hereof. 
 “Applicable Laws” shall mean all existing and future federal, state and
local laws, orders, ordinances, governmental rules and regulations and court orders. 
 “Appraisal”
shall mean an appraisal prepared in accordance with the requirements of FIRREA, prepared by an independent third party appraiser holding an MAI designation, who is State licensed or State certified if required under the laws of the State where
the Property is located, who meets the requirements of FIRREA and who is otherwise satisfactory to Lender. 

“Approved Accountant” shall mean a “Big Four” accounting firm, The Schonbraun McCann Group LLP, Anchin,
Block & Anchin LLP or other independent certified public accountant reasonably acceptable to Lender. 

“Approved Annual Budget” shall have the meaning set forth in Section 5.1.10(d) hereof. 

“Approved Bank” shall mean (i) a bank or other financial institution with a long term debt obligation rating
of “A” or better by S&P and Fitch (if rated by Fitch) and “A2” or better by Moody’s (or a comparable long term debt obligation rating) as determined by the Rating Agencies and (ii) WestLB AG, provided that
(A) WestLB AG has and maintains as long as the applicable Letter of Credit is in effect a long term unsecured debt rating of not less than “A-” by S&P and Fitch (if rated by Fitch) and “A3” by Moody’s and
(B) Lender reasonably determines that delivery of a Letter of Credit by WestLB AG would not, in and of itself, result in a downgrade, qualification or withdrawal of the initial, or, if higher, then current ratings assigned to the Securities.

 “Assignment and Assumption” shall have the meaning set forth in Section 9.7.2(a). 

“Assignment of Interest Rate Cap” shall mean that certain Collateral Assignment of Interest Rate Cap Agreement to
be made by Borrower to Lender as required by this Agreement as security for the Loan, consented to by the Counterparty, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time. 

  
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 “Assignment of Leases” shall mean that certain first priority
Assignment of Leases and Rents, dated as of the date hereof, from Borrower, as assignor, to Lender, as assignee, assigning to Lender all of Borrower’s interest in and to the Leases and Rents of the Property as security for the Loan, as the same
may be amended, restated, replaced, supplemented or otherwise modified from time to time. 
 “Assignment of
Management Agreement” shall mean that certain Conditional Assignment of Management Agreement dated as of the date hereof, among Lender, Borrower and Manager, as the same may be amended, restated, replaced, supplemented or otherwise
modified from time to time. 
 “Award” shall mean any compensation paid by any Governmental Authority in
connection with a Condemnation in respect of all or any part of the Property. 
 “Bankruptcy Code” shall
mean Title 11 U.S.C. §101 et seq., and the regulations adopted and promulgated pursuant thereto (as the same may be amended from time to time). 
 “Basic Carrying Costs” shall mean the sum of the following costs associated with the Property for the relevant Fiscal Year or payment period: (i) Taxes and (ii) Insurance
Premiums. 
 “Borrower” shall have the meaning set forth in the introductory paragraph hereto, together
with its permitted successors and permitted assigns. 
 “Breakage Costs” shall have the meaning set
forth in Section 2.2.3(d) hereof. 
 “Business Day” shall mean any day other than a Saturday,
Sunday or any other day on which national banks in New York, New York are not open for business. 
 “Capital
Expenditures” shall mean, for any period, the amount expended for items capitalized under GAAP (or such other accounting basis reasonably acceptable to Lender). 
 “Cash” shall mean coin or currency of the United States of America or immediately available funds, including such funds delivered by wire transfer. 

“Cash Equivalents” shall mean any of the following, to the extent owned by a Person free and clear of all Liens:
(a) readily marketable direct obligations of the Government of the United States or any agency or instrumentality thereof or obligations unconditionally guaranteed by the full faith and credit of the Government of the United States,
(b) certificates of deposit of or time deposits with any federally insured commercial bank that is a member of the Federal Reserve System, which issues (or the parent of which issues) commercial paper rated as described in clause
(c) below, is organized under the laws of the United States or any State thereof and has combined capital and surplus of at least $1 billion (c) commercial paper issued by any corporation organized under the laws of any State of the United
States and rated at least “Prime-1” (or the then equivalent grade) by Moody’s or “A-1” (or the then equivalent grade) by S&P, or (d) a Letter of Credit. 

  
 -11-

 “Cash Management Agreement” shall mean that certain Cash Management
Agreement dated as of the date hereof among Lender, Borrower, Manager and Agent Bank, as the same may be amended, restated, supplemented or otherwise modified from time to time. 

“Casualty” shall have the meaning set forth in Section 6.2 hereof. 

“Casualty Consultant” shall have the meaning set forth in Section 6.4(b)(iii) hereof. 

“Casualty Retainage” shall have the meaning set forth in Section 6.4(b)(iv) hereof. 

“Closing Date” shall mean the date of the funding of the Loan. 

“Code” shall mean the Internal Revenue Code of 1986, as amended, as it may be further amended from time to time,
and any successor statutes thereto, and all applicable U.S. Department of Treasury regulations issued pursuant thereto in temporary or final form. 
 “Co-Lender” shall have the meaning set forth in Section 9.7.2(a) hereof. 
 “Co-Lending Agreement” shall mean the Co-Lending Agreement entered into between Lender, individually as a Co-Lender and as Agent and the other Co-Lenders in the event of a
Syndication, as the same may be further supplemented modified, amended or restated. 
 “Collateral”
shall mean the Property, the Accounts, the Lockbox Account, the Reserve Funds, the Guaranty, the Personal Property, the Rents, the Account Collateral, and all other real or personal property of Borrower or any Guarantor that is at any time
pledged, mortgaged or otherwise given as security to Lender for the payment of the Debt under the Security Instrument, this Agreement or any other Loan Document. 
 “Condemnation” shall mean a temporary or permanent taking by any Governmental Authority as the result or in lieu or in anticipation of the exercise of the right of condemnation or
eminent domain, of all or any part of the Property, or any interest therein or right accruing thereto, including any right of access thereto or any change of grade affecting the Property or any part thereof. 

“Condemnation Proceeds” shall have the meaning set forth in Section 6.4(b) hereof. 

“control” (and the correlative terms “controlled by” and “controlling”) shall mean the
possession, directly or indirectly, of the power to direct or cause the direction of management and policies of the business and affairs of the entity in question by reason of the ownership of beneficial interests, by contract or otherwise.

 “Counterparty” shall mean (a) the counterparty under the Interest Rate Cap Agreement that is the
issuer of the Interest Rate Cap Agreement or (b) a Person that guarantees such counterparty’s obligations under the Interest Rate Cap Agreement or otherwise provides to such counterparty credit support acceptable to Lender or, after a
Securitization, the Rating 

  
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 Agencies, provided, however, that such guarantor shall be deemed the “Counterparty” for so long as
the long-term credit rating issued by the Rating Agencies to such guarantor is better than the long-term credit rating of the actual counterparty under the Interest Rate Cap Agreement. 

“Creditors Rights Laws” shall mean with respect to any Person, any existing or future law of any jurisdiction,
domestic or foreign, relating to bankruptcy, insolvency, reorganization, conservatorship, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to its debts or debtors. 

“Debt” shall mean the outstanding principal amount set forth in, and evidenced by, this Agreement and the Note
together with all interest accrued and unpaid thereon (including, without limitation, any interest that would accrue on the outstanding principal amount of the Loan through and including the end of any applicable Accrual Period, even if such Accrual
Period extends beyond any applicable Payment Date or the Maturity Date) and all other sums due to Lender in respect of the Loan under the Note, this Agreement, the Security Instrument or any other Loan Document. 

“Debt Service” shall mean, with respect to any particular period of time, interest payments due under the Note
for such period. 
 “Debt Service Account” shall have the meaning set forth in the Cash Management
Agreement. 
 “Debt Service Shortfall Reserve Account” shall have the meaning set forth in the Cash
Management Agreement. 
 “Debt Service Shortfall Reserve Fund” shall have the meaning set forth in
Section 7.7.1 hereof. 
 “Default” shall mean the occurrence of any event hereunder or under any
other Loan Document which, but for the giving of notice or passage of time, or both, would constitute an Event of Default. 

“Default Rate” shall mean, with respect to the Loan, a rate per annum equal to the lesser of (a) the Maximum
Legal Rate, or (b) five percent (5%) above the Applicable Interest Rate. 
 “Deposit Account”
shall have the meaning set forth in the Cash Management Agreement. 
 “Disclosure Document” shall
have the meaning set forth in Section 9.2(a) hereof. 
 “Eligible Account” shall mean a separate
and identifiable account from all other funds held by the holding institution that is either (a) an account or accounts maintained with a federal or State chartered depository institution or trust company which complies with the definition of
Eligible Institution or (b) a segregated trust account or accounts maintained with a federal or State chartered depository institution or trust company acting in its fiduciary capacity which, in the case of a State chartered depository
institution or trust company, is subject to 

  
 -13-

 regulations substantially similar to 12 C.F.R. § 9.10(b), having in either case a combined capital and
surplus of at least $50,000,000 and subject to supervision or examination by federal and State authority. An Eligible Account will not be evidenced by a certificate of deposit, passbook or other instrument. 

“Eligible Institution” shall mean a depository institution or trust company, insured by the Federal Deposit
Insurance Corporation, (a) the short term unsecured debt obligations or commercial paper of which are rated at least A 1+ by S&P, P 1 by Moody’s and F 1+ by Fitch in the case of accounts in which funds are held for thirty
(30) days or less, or (b) the long term unsecured debt obligations of which are rated at least “AA” by Fitch and S&P and “Aa2” by Moody’s in the case of accounts in which funds are held for more than thirty
(30) days. 
 “Embargoed Person” shall have the meaning set forth in Section 4.1.44 hereof.

 “Environmental Indemnity” shall mean that certain Environmental Indemnity Agreement dated as of the
date hereof executed by Borrower and Guarantor in connection with the Loan for the benefit of Lender, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time. 

“Environmental Law” shall mean any federal, State and local laws, statutes, ordinances, rules, regulations,
standards, policies and other government directives or requirements, that, at any time, apply to Borrower and Guarantor or the Property and relate to Hazardous Materials, including, without limitation, the Comprehensive Environmental Response,
Compensation and Liability Act and the Resource Conservation and Recovery Act. 
 “Environmental Liens”
shall have the meaning set forth in Section 5.1.19(a) hereof. 
 “Environmental Report” shall
have the meaning set forth in Section 4.1.39 hereof. 
 “ERISA” shall mean the Employee Retirement
Income Security Act of 1974, as the same may be amended from time to time. 
 “Estimated Interest Payment”
shall have the meaning specified in Section 2.3.1. 
 “Eurodollar Rate” shall mean, with
respect to any Accrual Period, an interest rate per annum equal to the sum of (a) LIBOR applicable to the Accrual Period plus (b) the Eurodollar Spread per annum. 
 “Eurodollar Spread” shall mean 102.37 basis points (1.0237%).  
 “Event of Default” shall have the meaning set forth in Section 8.1 (a) hereof. 
 “Exchange Act” shall have the meaning set forth in Section 9.2(a) hereof.  
 “Exchange Act Filing” shall have the meaning set forth in Section 9.2(a) hereof. 

  
 -14-

 “Executive Order” shall have the meaning set forth in the definition
of Prohibited Person. 
 “Extended Maturity Date” shall have the meaning set forth in
Section 2.2.1(c) hereof. 
 “Extension Fee” shall mean one-fourth of one percent (0.25%) of the
then-outstanding principal amount of the Loan. 
 “Extension Maturity Date” Shall have the meaning set
forth in Section 2.2.1.  
 “Extension Option” shall have the meaning set forth in
Section 2.2.1.  
 “Extension Period” shall have the meaning set forth in
Section 2.2.1. 
 “FIRREA” means the Financial Institutions Reform, Recovery and Enforcement Act of
1989, as the same may be amended from time to time. 
 “Fiscal Year” shall mean each twelve
(12) month period commencing on January 1 and ending on December 31 during the term of the Loan. 

“Fitch” shall mean Fitch, Inc. 
 “Flood Insurance Act” shall have the meaning set forth in Section 6.1(a)(vii) hereof. 
 “Flood Insurance Policies” shall have the meaning set forth in Section 6.1(a)(vii) hereof. 
 “Force Majeure” shall mean the failure of Borrower to perform any obligation hereunder by reason of any act of God, enemy or hostile government action, terrorist attacks, civil
commotion, insurrection, sabotage, strikes or lockouts or any other reason primarily due to cause or causes beyond the reasonable control of Borrower or any Affiliate of Borrower. 

“GAAP” shall mean generally accepted accounting principles as of the date of the applicable financial report set
forth in the opinions and pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board (or agencies with similar functions
of comparable stature and authority within the accounting profession), or in such other statements by such entity as may be in general use by significant segments of the U.S. accounting profession. 

“Governmental Authority” shall mean any court, board, agency, commission, office, central bank or other authority
of any nature whatsoever for any governmental unit (federal, State, county, district, municipal, city, country or otherwise) or quasi-governmental unit whether now or hereafter in existence. 

  
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 “Gross Income from Operations” shall mean all income, determined on
an accrual basis and computed in accordance with GAAP (or such other accounting basis reasonably acceptable to Lender), derived from the ownership and operation of the Property from whatever source, including, but not limited to, the Rents (net of
rent concessions or credits), utility charges, escalations, forfeited security deposits, interest on credit accounts, service fees or charges, license fees, parking fees, other required pass-throughs, proceeds of business interruption insurance or
other loss of income insurance for the applicable period and interest on the Reserve Funds, sales, use and occupancy or other taxes on receipts required to be accounted for by Borrower to any Governmental Authority, non-recurring revenues as
reasonably determined by Lender, payments received by Borrower under the Interest Rate Cap Agreement, proceeds from the sale or refinancing of the Property, refunds and uncollectible accounts, sales of furniture, fixtures and equipment, Insurance
Proceeds (other than business interruption or other loss of income insurance), Awards, unforfeited security deposits, utility and other similar deposits, any extraordinary revenues, including without limitation, any Lease Termination Payments, and
any disbursements to Borrower from the Reserve Funds. Gross Income from Operations shall not be diminished as a result of the Security Instrument or the creation of any intervening estate or interest in the Property or any part thereof.
Notwithstanding the foregoing, Gross Income from Operations shall include Rents to be paid pursuant to a Lease executed before or during the applicable period for which Gross Income from Operations is being measured provided (i) the remaining
free rent period for such Lease does not exceed ninety (90) days and (ii) the applicable tenant under such Lease is occupying its space or is expected to take occupancy of its space within ninety (90) days of such calculation, such
Rents to be included in Gross Income from Operations as if the applicable tenant was paying Rent at the full monthly rate set forth in the applicable Lease from the effective date of such Lease or the commencement of the period for which Gross
Income from Operations is being measured, whichever later occurs. 
 “Guarantor” shall mean each of
(i) Broadway Partners Parallel Fund B III, L.P., (ii) Broadway Partners Real Estate Fund III, L.P. and (iii) Broadway Partners Parallel Fund P III, L.P., jointly and severally, and any other entity guaranteeing any payment or
performance obligation of Borrower, including, without limitation, any Replacement Guarantor. 

“Guaranty” shall mean that certain Guaranty of Recourse Obligations of Borrower, dated as of the date hereof,
from Guarantor to Lender. 
 “Hazardous Materials” shall mean petroleum and petroleum products and
compounds containing them, including gasoline, diesel fuel and oil; explosives; flammable materials; radioactive materials; polychlorinated biphenyls and compounds containing them; lead and lead-based paint; asbestos or asbestos-containing materials
in any form that is or could become friable; toxic mold; any substance the presence of which on the Property is prohibited by any federal, State or local authority; any substance that requires special handling; and any other material or substance
now or in the future defined as a “hazardous substance,” “hazardous material,” “hazardous waste,” “toxic substance,” “toxic pollutant,” “contaminant,” “pollutant” or other words
of similar import within the meaning of any Environmental Law. 
 “Immediate Family Member” shall mean a
parent, spouse, sibling, child or grandchild of a natural person. 

  
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 “Impositions” shall mean any present or future income, stamp or
other taxes, levies, imposts, duties, charges, fees, deductions or withholdings, now or hereafter imposed, levied, collected, withheld or assessed by any Governmental Authority. 

“Improvements” shall have the meaning set forth in Article 1 of the Security Instrument with respect to the
Property. 
 “Indebtedness” of a Person, at a particular date, means the sum (without duplication) at
such date of (a) all indebtedness of such Person (including, without limitation, amounts for borrowed money); (b) obligations evidenced by bonds, debentures, notes, or other similar instruments; (c) obligations for the deferred
purchase price of property or services (including trade obligations); (d) obligations under letters of credit; (e) all guaranties, endorsements (other than for collection or deposit in the ordinary course of business) and other contingent
obligations to purchase, to provide funds for payment, to supply funds, to invest in any Person or entity, or otherwise to assure a creditor against loss; (f) obligations secured by any Liens, whether or not the obligations have been assumed;
(g) all amounts required to be paid by such Person as a guaranteed payment to partners or a preferred or special dividend, including any mandatory redemption of shares or interests; (h) all obligations under leases that constitute capital
leases for which such Person is liable; and (i) all obligations of such Person under interest rate swaps, caps, floors, collars and other interest hedge agreements, in each case whether such Person is liable contingently or otherwise, as
obligor, guarantor or otherwise. 
 “Indemnified Parties” shall mean Lender, any person or entity in
whose name the encumbrance created by the Security Instrument is or will have been recorded, persons and entities who may hold or acquire or will have held a full or partial interest in the Loan (including, but not limited to, Investors or
prospective Investors in the Securities, as well as custodians, trustees and other fiduciaries who hold or have held a full or partial interest in the Loan for the benefit of third parties) as well as the respective directors, officers,
shareholders, partners, members, employees, agents, Affiliates, subsidiaries, participants, successors and assigns of any and all of the foregoing (including but not limited to any other Person who holds or acquires or will have held a participation
or other full or partial interest in the Loan or the Property, whether during the term of the Loan or as a part of or following a foreclosure of the Loan and including, but not limited to, any successors by merger, consolidation or acquisition of
all or a substantial portion of Lender’s assets and business). 
 “Indemnified Taxes” shall mean
Impositions, excluding, in the case of Lender or any Co-Lender (or any successor and/or assign of Lender or any Co-Lender), (a) Impositions imposed on or measured by its net income or franchise taxes on it by the jurisdiction (or any political
subdivision or taxing authority thereof) under the laws of which such Lender or such Co-Lender, as applicable, is incorporated or otherwise organized or in which its principal office is located or in which its applicable lending office is located,
(b) any branch profits taxes imposed by the United States or any similar tax imposed by any other jurisdiction in which such Lender or such Co-Lender, as applicable, is located, (c) any Impositions imposed, deducted or withheld by reason
of any present or former connection between such Lender or such Co-Lender, as applicable, and the jurisdiction imposing the Imposition (other than on account of the execution, delivery, performance, filing, recording, and enforcement of, and the
other activities contemplated in, this Agreement and the other Loan Documents, and such Lender’s or such 

  
 -17-

 
Co-Lender’s participation in the transactions contemplated by this Agreement and the other Loan Documents) and (d) any Impositions imposed, deducted or withheld with respect to amounts
payable to such Lender or such Co-Lender, as applicable, at the time such Lender or such Co-Lender, as applicable, becomes a party hereto or designates a new lending office, except to the extent that such Lender or such Co-Lender, as applicable, is
an assignee and its assignor was entitled at the time of such assignment to receive additional amounts from Borrower with respect to such Impositions pursuant to Section 2.2.8. 

“Indemnitor” shall mean each of (i) Broadway Partners Parallel Fund B III, L.P., (ii) Broadway Partners
Parallel Fund P III, L.P. and (iii) Broadway Partners Real Estate Fund III, L.P., jointly and severally. 

“Independent Manager” shall mean a natural Person who is not at the time of initial appointment, or at any time
while serving as a member of Borrower and has not been at any time during the preceding five (5) years: (a) a stockholder, director (with the exception of serving as the Independent Manager of Borrower), officer, employee, partner, member,
attorney or counsel of Borrower or any Affiliate of Borrower; (b) a creditor, customer, supplier or other Person who derives any of its purchases or revenues from its activities with Borrower or any Affiliate of Borrower; (c) a Person
controlling, controlled by or under common control with Borrower or any Affiliate of Borrower or any such stockholder, partner, member, creditor, customer, supplier or other Person; or (d) an Immediate Family Member of any such stockholder,
director, officer, employee, partner, manager, creditor, customer, supplier or other Person. 
 A natural Person who satisfies
the foregoing definition other than subparagraph (b) shall not be disqualified from serving as an Independent Manager of Borrower if such individual is an independent director or manager provided by a nationally-recognized company that provides
professional independent directors or managers and that also provides other corporate services in the ordinary course of its business to Borrower and/or its Affiliates or if such individual receives customary director’s fees for so serving,
subject to the limitation on fees set forth below. 
 A natural Person who otherwise satisfies the foregoing shall not be
disqualified from serving as an Independent Manager of Borrower if such individual is at the time of initial appointment, or at any time while serving as an Independent Manager of Borrower, an “Independent Manager” of a “Single
Purpose Entity” affiliated with Borrower (other than any entity that owns a direct or indirect equity interest in Borrower) if such natural Person is an independent director or manager provided by a nationally-recognized company that provides
professional independent directors or managers or such individual does not derive more than 5% of his or her annual income from serving as a director of Borrower or any Affiliate of Borrower. 

“Initial Rollover/Replacement Reserve Deposit” shall have the meaning set forth in Section 7.4.1 hereof.

 “Insolvency Opinion” shall mean, that certain bankruptcy non-consolidation opinion letter delivered
by counsel for Borrower in connection with the Loan and approved by Lender or the Rating Agencies, as the case may be. 

  
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 “Insurance Reserve Account” shall have the meaning set forth in the
Cash Management Agreement. 
 “Insurance Premiums” shall have the meaning set forth in
Section 6.1(b) hereof.  
 “Insurance Proceeds” shall have the meaning set forth in
Section 6.4(b) hereof. 
 “Interest Rate Cap Agreement” shall mean the Interest Rate Cap Agreement
(together with a confirmation from the Counterparty in the form attached hereto as Schedule XX, and the schedules relating thereto), between an Acceptable Counterparty and Borrower obtained by Borrower. The Interest Rate Cap Agreement shall
otherwise be written on the then current standard ISDA documentation with such changes thereto as are required by Lender, and shall provide for interest periods and calculations consistent with the payment terms of this Agreement, together with all
amendments, restatements, replacements, supplements and modifications thereto. After delivery of a Replacement Interest Rate Cap Agreement to Lender, the term “Interest Rate Cap Agreement” shall be deemed to mean such Replacement Interest
Rate Cap Agreement. 
 “Investment Grade” shall mean a rating of “BBB-” or its equivalent (or
higher) by Fitch and S&P and “Baa3” by Moody’s. 
 “Investor” shall have the meaning
set forth in Section 5.1.10(f) hereof. 
 “Lease Termination Payments” shall mean all payments made
to Borrower in connection with any termination, cancellation, surrender, sale or other disposition of any Lease; provided, however, the first $150,000 in payments (in the aggregate) made to Borrower in connection with any termination,
cancellation, surrender, sale or other disposition of any Lease after the date hereof shall not be considered Lease Termination Payments for purposes of this Agreement. 
 “Leases” shall have the meaning set forth in Article 1 of the Security Instrument. 
 “Leasing Approval Period” shall have the meaning set forth in Section 5.1.17(h) hereof. 
 “Leasing Expenses” shall mean the tenant improvements (including base building improvements required pursuant to a Lease) and leasing commission obligations incurred by Borrower in
connection with any new Major Leases that have been approved by Lender or, so long as such obligations are on market rates and terms, any other Leases or Renewal Leases entered into by Borrower in accordance with the terms hereof. 

“Legal Requirements” shall mean, with respect to the Property or Borrower, all federal, State, county, municipal
and other governmental statutes, laws, rules, orders, regulations, ordinances, judgments, decrees and injunctions of Governmental Authorities affecting the Property or any part thereof, or the zoning, construction, use, alteration, occupancy or
operation thereof, or any part thereof, whether now or hereafter enacted and in force, including, without limitation, the Americans with Disabilities Act of 1990, and all permits, licenses and authorizations and regulations relating thereto, and all
covenants, agreements and restrictions 

  
 -19-

 
contained in any instruments, either of record or known to Borrower, at any time in force affecting the Property or any part thereof, including, without limitation, any which may (a) require
repairs, modifications or alterations in or to the Property or any part thereof, or (b) in any way limit the use and enjoyment thereof. 
 “Lender” shall have the meaning set forth in the introductory paragraph hereto, together with its successors and assigns. 

“Letter of Credit” shall mean a transferable, irrevocable, unconditional, clean sight draft standby letter of
credit in form reasonably satisfactory to Lender issued by an Approved Bank. The Letter of Credit shall be payable upon presentation of a sight draft only to the order of Lender and a statement executed by an officer or authorized signatory or
Lender stating that it has the right to draw thereon at a New York City bank. The Letter of Credit shall have an initial expiration date of not less than one (1) year and shall be automatically renewed for successive twelve (12) month
periods (unless such Letter of Credit provides that the issuing bank may elect not to renew the Letter of Credit upon written notice to the beneficiary at least thirty (30) days prior to its expiration date) and shall provide for multiple
draws. The Letter of Credit shall be transferable by Lender and its successors and assigns at a New York City bank. 

“Liabilities” shall have the meaning set forth in Section 9.2(b) hereof. 

“LIBOR” shall mean, for the first Accrual Period 5.32% per annum. For each Accrual Period thereafter LIBOR
shall mean the rate (expressed as a percentage per annum and rounded upward, if necessary, to the next nearest 1/1000 of 1%) for deposits in U.S. dollars, for a one-month period, that appears on Telerate Page 3750 as of 11:00 a.m., London time, on
the related LIBOR Determination Date. If such rate does not appear on Telerate Page 3750 as of 11:00 a.m., London time, on such LIBOR Determination Date, LIBOR shall be the arithmetic mean of the offered rates (expressed as a percentage per annum)
for deposits in U.S. dollars for a one-month period that appear on the Reuters Screen Libor Page as of 11:00 a.m., London time, on such LIBOR Determination Date, if at least two such offered rates so appear. If fewer than two such offered rates
appear on the Reuters Screen Libor Page as of 11:00 a.m., London time, on such LIBOR Determination Date, Lender shall request the principal London Office of any four major reference banks in the London interbank market selected by Lender to provide
such bank’s offered quotation (expressed as a percentage per annum) to prime banks in the London interbank market for deposits in U.S. dollars for a one-month period as of 11:00 a.m., London time, on such LIBOR Determination Date for the then
outstanding principal amount of the Loan. If at least two such offered quotations are so provided, LIBOR shall be the arithmetic mean of such quotations. If fewer than two such quotations are so provided, Lender shall request any three major banks
in New York City selected by Lender to provide such bank’s rate (expressed as a percentage per annum) for loans in U.S. dollars to leading European banks for a one-month period as of approximately 11:00 a.m., New York City time on the
applicable LIBOR Determination Date for the then outstanding principal amount of the Loan. If at least two such rates are so provided, LIBOR shall be the arithmetic mean of such rates. LIBOR shall be determined by Lender or its agent and at
Borrower’s request, Lender shall provide Borrower with the basis for its determination. 

  
 -20-

 “LIBOR Business Day” shall mean any day other than a Saturday,
Sunday or any other day on which commercial banks in London, England or New York, New York are not open for business. 
 “LIBOR Determination Date” shall mean, with respect to each Accrual Period, the date that is two (2) LIBOR Business Days prior to the fifteenth (15th) day of the calendar month in which such Accrual Period
commences; provided, however, that Lender shall have the right to change the LIBOR Determination Date to any other day upon notice to Borrower (in which event such change shall then be deemed effective) and, if requested by Lender, Borrower shall
promptly execute an amendment to this Agreement to evidence such change. 
 “Licenses” shall have the
meaning set forth in Section 4.1.21 hereof. 
 “Lien” shall mean, with respect to the Property, any
mortgage, deed of trust, lien, pledge, hypothecation, assignment, security interest, or any other encumbrance, charge or transfer of, on or affecting Borrower, the Property, any portion thereof or any interest therein, including, without limitation,
any conditional sale or other title retention agreement, any financing lease having substantially the same economic effect as any of the foregoing, the filing of any financing statement, and mechanic’s, materialmen’s and other similar
liens and encumbrances. 
 “Lien Charges” shall mean charges for labor or materials or other charges
that can create liens on the Property. 
 “Liquid Assets” shall mean, with respect to any Person, the
available credit lines, undrawn and unencumbered capital commitments, and unencumbered cash or Cash Equivalents of such Person and its wholly owned subsidiaries. 
 “LLC Agreement” shall have the meaning set forth in Section 4.1.35(hh) hereof. 
 “Loan” shall mean the loan made by Lender to Borrower pursuant to this Agreement and the other Loan Documents. 

“Loan Documents” shall mean, collectively, this Agreement, the Note, the Security Instrument, the Assignment of
Leases, the Lockbox Agreement, the Cash Management Agreement, the Environmental Indemnity, the Assignment of Management Agreement, the Guaranty and all other documents executed and/or delivered in connection with the Loan, each as may be modified,
amended, supplemented and/or replaced from time to time. 
 “Lockbox Account” shall mean the
“Account” or “Accounts” as defined in the Lockbox Agreement. 
 “Lockbox Agreement”
shall mean that certain Deposit Account Control Agreement, dated as of the date hereof among Lender, Borrower and Lockbox Bank, as the same may be amended, restated, supplemented or otherwise modified from time to time. 

“Lockbox Bank” shall mean KeyBank, N. A., and any successor Eligible Institution thereto. 

  
 -21-

 “Losses” shall mean any and all claims, suits, liabilities
(including, without limitation, strict liabilities), actions, proceedings, obligations, debts, actual out-of-pocket damages (excluding consequential, punitive and/or special damages), actual out-of-pocket losses, actual out-of-pocket costs, actual
out-of-pocket expenses, fines, penalties, charges, fees, judgments, awards, amounts paid in settlement of whatever kind or nature (including but not limited to reasonable attorneys’ fees and other costs of defense), but excluding punitive and
unforeseeable damages. 
 “Major Lease” shall mean (i) any Lease which together with all other
Leases to the same tenant and to all Affiliates of such tenant, (1) provides for rental income representing ten percent (10%) or more of the total rental income for the Property, in the aggregate, or (2) covers at least one
(1) full floor, in the aggregate, (ii) any Lease with an Affiliate of Borrower other than for a management office of no more than 2500 square feet, and (iii) any instrument guaranteeing or providing credit support for any Major Lease.

 “Management Agreement” shall mean, with respect to the Property, the management agreement dated as of
the date hereof entered into by and between Borrower and Manager, pursuant to which the Manager is to provide management and other services with respect to the Property, or, if the context requires, the Replacement Management Agreement executed in
accordance with the terms and provisions of this Agreement. 
 “Manager” shall mean Broadway Real Estate
Services, LLC or, if the context requires, a Qualified Manager who is managing the Property in accordance with the terms and provisions of this Agreement. 
 “Material Adverse Effect” shall mean any event or condition that has a material adverse effect on (a) the value or possession of the Property taken as a whole (including the
Net Operating Income) or (b) the business, operations or financial condition of Borrower, including but not limited to the ability of Borrower to repay the principal and interest of the Loan as it becomes due. 

“Maturity Date” shall mean the Payment Date occurring in August, 2009, as such date may be extended pursuant to
the terms hereof, or such other date on which the final payment of the principal of the Note becomes due and payable as therein or herein provided, whether at such stated maturity date, by declaration of acceleration, or otherwise. 

“Maximum Legal Rate” shall mean the maximum nonusurious interest rate, if any, that at any time or from time to
time may be contracted for, taken, reserved, charged or received on the indebtedness evidenced by the Note and as provided for herein or in the other Loan Documents, under the laws of such State or States whose laws are held by any court of
competent jurisdiction to govern the interest rate provisions of the Loan. 
 “Member” shall mean
Broadway 500 West Monroe Mezz I LLC, a Delaware limited liability company. 
 “Member Cessation Event”
shall have the meaning specified in Section 4.1.35(hh). 

  
 -22-

 “Mezzanine A Loan Agreement” shall mean the Mezzanine A Loan
Agreement, dated as of the date hereof, between Mezzanine Lender A and Mezzanine Borrower A, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time. 

“Mezzanine B Loan Agreement” shall mean the Mezzanine B Loan Agreement, dated as of the date hereof, between
Mezzanine Lender B and Mezzanine Borrower B, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time. 
 “Mezzanine Borrower” shall mean, collectively, Mezzanine Borrower A, Mezzanine Borrower B, Mezzanine Borrower C and Mezzanine Borrower D. 

“Mezzanine Borrower A” shall mean Broadway 500 West Monroe Mezz I LLC, a Delaware limited liability company.

 “Mezzanine Borrower B” shall mean Broadway 500 West Monroe Mezz II LLC, a Delaware limited liability
company. 
 “Mezzanine Borrower C” shall mean, Broadway 500 West Monroe Mezz III LLC, a Delaware limited
liability company. 
 “Mezzanine Borrower D” shall mean Broadway 500 West Monroe Mezz IV LLC, a Delaware
limited liability company. 
 “Mezzanine C Loan Agreement” shall mean the Mezzanine C Loan Agreement,
dated as of the date hereof, between Mezzanine Lender C and Mezzanine Borrower C, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time. 

“Mezzanine D Loan Agreement” shall mean the Mezzanine D Loan Agreement, dated as of the date hereof, between
Mezzanine Lender D and Mezzanine Borrower D, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time. 
 “Mezzanine Lender” shall collectively refer to the Mezzanine Lender A, Mezzanine Lender B, Mezzanine Lender C and Mezzanine Lender D. 

“Mezzanine Lender A” shall mean Morgan Stanley Mortgage Capital Holdings LLC, the lender of the Mezzanine Loan A
to Mezzanine Borrower A, together with its successors and assigns. 
 “Mezzanine Lender B” shall mean
Morgan Stanley Mortgage Capital Holdings LLC, the lender of the Mezzanine Loan B to Mezzanine Borrower B, together with its successors and assigns. 

  
 -23-

 “Mezzanine Lender C” shall mean Morgan Stanley Mortgage Capital
Holdings LLC, the lender of the Mezzanine Loan C to Mezzanine Borrower C, together with its successors and assigns. 

“Mezzanine Lender D” shall mean Transwestern Mezzanine Realty Partners II, LLC, the lender of the Mezzanine Loan
D to Mezzanine Borrower D, together with its successors and assigns. 
 “Mezzanine Loan” shall mean,
collectively, Mezzanine Loan A, Mezzanine Loan B, Mezzanine Loan C and Mezzanine Loan D. 
 “Mezzanine Loan
A” shall mean the mezzanine loan made by Mezzanine Lender A to Mezzanine Borrower A. 
 “Mezzanine Loan
Agreement” shall mean, collectively, the Mezzanine A Loan Agreement, Mezzanine B Loan Agreement, Mezzanine C Loan Agreement and Mezzanine D Loan Agreement. 
 “Mezzanine Loan B” shall mean the mezzanine loan made by Mezzanine Lender B to Mezzanine Borrower B. 
 “Mezzanine Loan C” shall mean the mezzanine loan made by Mezzanine Lender C to Mezzanine Borrower C. 
 “Mezzanine Loan D” shall mean the mezzanine loan made by Mezzanine Lender D to Mezzanine Borrower D. 
 “Mezzanine Loan Documents” shall mean, collectively, the Mezzanine Note, the Mezzanine Loan Agreement and any and all other documents defined as “Loan Documents” in any
Mezzanine Loan Agreement. 
 “Mezzanine Note” shall mean, collectively, (a) that certain Mezzanine
A Promissory Note dated the date hereof, made by Mezzanine Borrower A and payable to Mezzanine Lender A in the principal amount of up to $65,600,000.00, (b) that certain Mezzanine B Promissory Note dated the date hereof, made by Mezzanine
Borrower B and payable to Mezzanine Lender B in the principal amount of $36,200,000.00, (c) that certain Mezzanine C Promissory Note dated the date hereof, made by Mezzanine Borrower C and payable to Mezzanine Lender C in the principal amount
of $40,200,000.00 and (d) that certain Mezzanine D Promissory Note dated the date hereof, made by Mezzanine Borrower D and payable to Mezzanine Lender D in the principal amount of $48,500,000.00, as each of the foregoing may be amended,
restated, extended, increased, consolidated, supplemented or severed from time to time. 
 “Minimum Counterparty
Rating” shall mean (a) either a short term credit rating from S&P (and if Fitch rates the entity, from Fitch) of at least “A-l” or a long term credit rating from S&P (and if Fitch rates the entity, from Fitch) of
at least “A+” and (b) either (i) a long term credit rating from Moody’s of at least “Aa3” or (ii) a long term credit rating from Moody’s of at least “Al” and a short term credit rating from
Moody’s of “P-l”. After a 

  
 -24-

 
Securitization of the Loan, only the ratings of those Rating Agencies rating the Securities shall apply. 
 “Minimum Replacement Disbursement Amount” shall mean $25,000. 
 “Monthly Debt Service Payment Amount” shall mean the amount of interest due and payable on each Payment Date pursuant to the Note and Section 2.2 hereof. 

“Monthly Insurance Premium Deposit” shall have the meaning set forth in Section 7.2(c) hereof. 

“Monthly Tax Deposit” shall have the meaning set forth in Section 7.2(b) hereof. 

“Moody’s” shall mean Moody’s Investors Service, Inc. 

“Morgan Stanley” shall have the meaning set forth in Section 9.2(b) hereof. 

“Morgan Stanley Group” shall have the meaning set forth in Section 9.2(b) hereof. 

“Net Cash Flow” for any period shall mean the amount obtained by subtracting Operating Expenses and Capital
Expenditures for such period from Gross Income from Operations for such period. 
 “Net Cash Flow Schedule”
shall have the meaning set forth in Section 5.1.10(b) hereof. 
 “Net Operating Income” means
the amount obtained by subtracting Operating Expenses from Gross Income from Operations. 
 “Net Proceeds”
shall have the meaning set forth in Section 6.4(b) hereof. 
 “Net Proceeds Deficiency” shall
have the meaning set forth in Section 6.4(b)(vi) hereof. 
 “Net Worth” of a Person means, as of
any date of determination, the excess of total assets of such Person over total liabilities of such Person (in each case on a consolidated basis), total assets and total liabilities each to be determined in accordance with GAAP (or such other
accounting basis reasonably acceptable to Lender). 
 “Note” shall mean that certain Promissory Note of
even date herewith in the principal amount of ONE HUNDRED FIFTY MILLION AND 00/100 DOLLARS ($150,000,000.00), made by Borrower in favor of Lender, as the same may be amended, restated, replaced, extended, renewed, supplemented, severed, split, or
otherwise modified from time to time. 
 “Obligations” shall mean Borrower’s obligation to pay the
Debt and perform its obligations under the Note, this Agreement and the other Loan Documents. 

  
 -25-

 “Officer’s Certificate” shall mean a certificate delivered to
Lender by Borrower which is signed by a Responsible Officer of Borrower. 
 “Operating Expenses” shall
mean the total of all expenditures, determined on an accrual basis and computed in accordance with GAAP (or such other accounting basis reasonably acceptable to Lender), of whatever kind relating to the operation, maintenance and management of the
Property that are incurred on a regular monthly or other periodic basis, including without limitation, utilities, ordinary repairs and maintenance, insurance premiums, license fees, property taxes and assessments, advertising expenses, management
fees, capital costs, tenant rollover expenses, computer processing charges, operational equipment or other lease payments as reasonably approved by Lender, and other similar costs, but excluding depreciation, Debt Service, Capital Expenditures and
contributions to the Reserve Funds and any “extraordinary expenses” under GAAP; provided, however such costs and expenses shall be subject to adjustment by Lender to normalize such costs and expenses. 

“Organizational Documents” shall mean (i) with respect to a corporation, such Person’s certificate of
incorporation and by laws, and any shareholder agreement, voting trusts or similar arrangements, if any, applicable to any of such Person’s authorized shares of capital stock, (ii) with respect to a partnership, such Person’s
certificate of limited partnership and partnership agreement, and voting trusts or similar arrangements, if any, applicable to any of its partnership interests, (iii) with respect to a limited liability company, such Person’s certificate
of formation and limited liability company agreement, and voting trusts or similar arrangements, if any, applicable to any of its limited liability company interests, and (iv) any and all agreements, if any, between any constituent member,
partner or shareholder of the Person in question applicable to such Person, including any contribution agreement or indemnification agreements. 
 “Other Charges” shall mean all maintenance charges, impositions other than Taxes, and any other charges, including, without limitation, vault charges and license fees for the use
of vaults, chutes and similar areas adjoining the Property, now or hereafter levied or assessed or imposed against the Property or any part thereof. 
 “Participant” shall have the meaning set forth in Section 9.7.2(i). 
 “Payment Date” shall mean August 9, 2007, and the ninth (9th) day of each calendar month thereafter during the term of the Loan or, if such day is not a Business Day, the
immediately preceding Business Day. 
 “Permitted Encumbrances” shall mean, collectively, (a) the
Liens and security interests created (or otherwise expressly permitted) by the Loan Documents, (b) all Liens, encumbrances and other matters disclosed in the Title Insurance Policy relating to the Property or any part thereof, (c) Liens,
if any, for Taxes imposed by any Governmental Authority not yet delinquent, (d) existing Leases and subsequent Leases entered into in accordance with the terms of the Loan Documents and (e) such other title and survey exceptions
(including, without limitation, Leases, special taxes and assessments, zoning and development restrictions, and historic or landmark restrictions) as Lender has approved or may approve in writing in Lender’s sole discretion. 

  
 -26-

 “Permitted Investments” shall have the meaning set forth in the Cash
Management Agreement 
 “Person” shall mean any individual, corporation, partnership, joint venture,
limited liability company, estate, trust, unincorporated association, any other entity, any federal, State, county or municipal government or any bureau, department or agency thereof and any fiduciary acting in such capacity on behalf of any of the
foregoing. 
 “Personal Property” shall have the meaning set forth in Article 1 of the Security
Instrument with respect to the Property. 
 “Physical Conditions Report” shall mean the report dated
June 27, 2007 prepared by EMG and delivered to Lender in connection with the Loan. 
 “Plan” shall
mean an employee benefit plan (as defined in section 3(3) of ERISA) subject to Title I of ERISA or a plan or other arrangement subject to section 4975 of the Code. 
 “Plan Assets” shall mean assets of a Plan within the meaning of 29 C.F.R. Section 2510.3-101, as modified by Section 3(42) of ERISA. 

“Policies” shall have the meaning set forth in Section 6.1(b) hereof. 

“Principal” shall have the meaning set forth in Section 4.1.35 hereof, together with its successors and
assigns. Lender and Borrower agree that, based on Borrower’s organizational structure as of the date hereof, no Principal exists on the date hereof. 
 “Prohibited Person” shall mean any Person: 

(a) listed in the Annex to, or otherwise subject to the provisions of, the Executive Order No. 13224 on Terrorist
Financing, effective September 24, 2001, and relating to Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten to Commit, or Support Terrorism (the “Executive Order”); 

(b) that is owned or controlled by, or acting for or on behalf of, any person or entity that is listed to the Annex to, or
is otherwise an object of any of the restrictions, limitations or prohibitions set forth in the provisions of the Executive Order; 
 (c) with whom Lender is prohibited from dealing or otherwise engaging in any transaction by any terrorism or money laundering law, including the Executive Order; 

(d) who commits, threatens or conspires to commit or supports “terrorism” as defined in the Executive Order;

 (e) that is named as a “specially designated national and blocked person” on the most current list
published by the U.S. Treasury Department Office of Foreign Assets Control at its official website, http://www.treas.gov.ofac/tl lsdn.pdf or at any replacement website or other replacement official publication of such list; or 

  
 -27-

 (f) who is an Affiliate of or affiliated with a Person listed above.

 “Property” shall mean the real property, the Improvements thereon and all Personal Property owned
and/or leased by Borrower and encumbered by the Security Instrument, together with all rights pertaining to the Property and the Improvements, as more particularly described in Article 1 of the Security Instrument and referred to therein as the
“Property”. 
 “Provided Information” shall have the meaning set forth in
Section 9.1(a) hereof. 
 “Qualified Fund Transferee” shall mean either: 

(A) any Person that in Lender’s reasonable determination meets the criteria set forth in any of the following
clauses: 
 (i) a pension fund, pension trust or pension account that (a) has total real estate assets of at
least $2 Billion and (b) is managed by a Person who controls or manages at least $2 Billion of real estate equity assets; or 
 (ii) a pension fund advisor who (a) immediately prior to such transfer, controls at least $2 Billion (exclusive of the Property) of real estate equity assets and (b) is acting on behalf of one
or more pension funds that, in the aggregate, satisfy the requirements of clause (i) of this definition; or 

(iii) an insurance company which is subject to supervision by the insurance commissioner, or a similar official or agency,
of a state or territory of the United States (including the District of Columbia) (a) with a Net Worth, as of a date no more than six (6) months prior to the date of the transfer, of at least $800 Million and (b) who, immediately
prior to such transfer, controls real estate equity assets of at least $2 Billion (exclusive of the Property); or 
 (iv) a corporation organized under the banking laws of the United States or any state or territory of the United States (including the District of Columbia) (a) with a combined capital and surplus of
at least $800 Million and (b) who, immediately prior to such transfer, controls real estate equity assets of at least $2 Billion (exclusive of the Property); or 

(v) any Person who (a) owns or operates at least 15,000,000 square feet of gross leaseable area of commercial space,
of which not less than 5,000,000 square feet (excluding the Property) is “Class A” office space in major metropolitan areas, (b) has a Net Worth, as of a date no more than six (6) months prior to the date of such transfer, of at
least $800 Million and (c) immediately prior to such transfer, controls real estate equity assets of at least $2 Billion or non-real estate equity assets of $4 Billion; or 

(vi) any Person controlled directly or indirectly by Morgan Stanley Mortgage Capital Holdings LLC, or any Affiliate of
Morgan Stanley Mortgage Capital Holdings LLC; or 

  
 -28-

 (vii) any Person controlled directly or indirectly by Transwestern Mezzanine
Realty Partners, LLC, or any Affiliate of Transwestern Mezzanine Realty Partners, LLC. 
 or 

(B) any other Person (a) approved by Lender or, (b) if a Securitization shall have occurred, regarding which
Lender shall have received written confirmation by the Rating Agencies that the transfer to such Person will not, in and of itself, cause a downgrade, withdrawal or qualification of the ratings then assigned to the Securities. 

“Qualified Insurer” shall have the meaning set forth in Section 6.1(b) hereof. 

“Qualified Manager” shall mean either (1) Broadway Real Estate Services, LLC or any property manager which
is an Affiliate of Broadway Partners Fund Manager LLC, (2) Cushman & Wakefield, (3) CB Richard Ellis, or (4) a reputable and experienced professional management organization (a) which manages, together with its
Affiliates, seven (7) or more properties of a type, quality and size similar to the Property, totaling in the aggregate no less than 3,500,000 square feet of gross leaseable area of space (in each case of (2), (3) or (4), excluding the
Property) and (b) prior to whose employment as manager of the Property (i) prior to the occurrence of a Securitization, such employment shall have been approved by Lender, and (ii) after the occurrence of a Securitization, Lender
shall have received written confirmation from the Rating Agencies that the employment of such manager will not result in a downgrade, withdrawal or qualification of the initial, or if higher, then current ratings of the Securities. 

“Qualified Transferee” shall mean either: 

(A) any Person that in Lender’s reasonable determination meets the criteria set forth in any of the following
clauses: 
 (i) a pension fund, pension trust or pension account that (a) has total real estate assets of at
least $800 Million and (b) is managed by a Person who controls or manages at least $800 Million of real estate equity assets; or 
 (ii) a pension fund advisor who (a) immediately prior to such transfer, controls at least $800 Million of real estate equity assets and (b) is acting on behalf of one or more pension funds that,
in the aggregate, satisfy the requirements of clause (i) of this definition; or 
 (iii) an insurance
company which is subject to supervision by the insurance commissioner, or a similar official or agency, of a state or territory of the United States (including the District of Columbia) (a) with a Net Worth, as of a date no more than six
(6) months prior to the date of the transfer, of at least $400 Million and (b) who, immediately prior to such transfer, controls real estate equity assets of at least $800 Million; or 

(iv) a corporation organized under the banking laws of the United States or any state or territory of the United States
(including the District of 

  
 -29-

 
Columbia) (a) with a combined capital and surplus of at least $400 Million and (b) who, immediately prior to such transfer, controls real estate equity assets of at least $800 Million; or

 (v) any Person who (a) owns or operates at least 2,000,000 square feet (excluding the Property) of gross
leaseable area of “Class A” office space in major metropolitan areas, (b) has a Net Worth, as of a date no more than six (6) months prior to the date of such transfer, of at least $400 Million and (c) immediately prior to such
transfer, controls real estate equity assets of at least $800 Million. 
 or 

(B) any other Person (a) approved by Lender or, (b) if a Securitization shall have occurred, regarding which
Lender shall have received written confirmation by the Rating Agencies that the transfer to such Person will not, in and of itself, cause a downgrade, withdrawal or qualification of the ratings then assigned to the Securities. 

“Rating Agencies” shall mean each of S&P, Moody’s, and Fitch, and any other nationally recognized
statistical rating agency which has been approved by Lender. 
 “Register” shall have the meaning set
forth in Section 9.7.2(h) hereof. 
 “Registration Statement” shall have the meaning set forth in
Section 9.2(b) hereof. 
 “Regulation D” shall mean Regulation D of the Board of Governors of the
Federal Reserve System from time to time in effect, including any successor or other Regulation or official interpretation of said Board of Governors relating to reserve requirements applicable to member banks of the Federal Reserve System.

 “Release” of any Hazardous Materials shall mean any release, deposit, discharge, emission, leaking,
spilling, seeping, migrating, injecting, pumping, pouring, emptying, escaping, dumping, disposing or other movement of Hazardous Materials (other than for purposes of remediation of such Hazardous Materials) in violation of any Environmental Law.

 “REMIC Trust” shall mean a “real estate mortgage investment conduit” within the meaning of
Section 860D of the Code that holds the Note. 
 “Renewal Lease” shall have the meaning set forth
in Section 5.1.17(a) hereof.  
 “Rents” shall have the meaning set forth in Article 1 of
the Security Instrument.  
 “Replacement Guarantor” shall mean any Acceptable Guarantor.

 “Replacement Interest Rate Cap Agreement” means an interest rate cap agreement from an Acceptable
Counterparty in form and substance substantially similar to the Interest Rate Cap Agreement in all material respects. 

  
 -30-

 “Replacement Management Agreement” shall mean, collectively,
(a) either (i) a management agreement with a Qualified Manager substantially in the same form and substance as the Management Agreement, or (ii) a management agreement with a Qualified Manager, which management agreement shall be
reasonably acceptable to Lender in form and substance, provided, with respect to this subclause (ii), Lender, at its option after the occurrence of a Securitization, may require that Borrower obtain confirmation from the applicable Rating Agencies
that such management agreement will not result in a downgrade, withdrawal or qualification of the initial, or if higher, then current rating of the Securities or any class thereof; and (b) a conditional assignment of management agreement
substantially in the form of the Assignment of Management Agreement (or such other form acceptable to Lender), executed and delivered to Lender by Borrower and such Qualified Manager at Borrower’s expense. 

“Replacements” shall mean replacements and repairs required to be made to the Property during the calendar year.

 “Required Leasing Reserve Deposits” shall have the meaning set forth in Section 7.4.1 hereof.

 “Required Repairs” shall have the meaning set forth in Section 7.1.1. 

“Reserve Fund Deposits” shall mean the amounts to be deposited into the Reserve Funds for any given month.

 “Reserve Funds” shall mean the Tax and Insurance Escrow Fund, the Rollover/Replacement Reserve Fund,
the Debt Service Shortfall Reserve Fund or any other escrow or reserve fund established by the Loan Documents. 

“Resizing Mezzanine Borrower” shall have the meaning set forth in Section 9.5 hereof. 

“Resizing Mezzanine Loan” shall have the meaning set forth in Section 9.5 hereof. 

“Responsible Officer” means with respect to a Person, the chairman of the board, president, chief operating
officer, chief financial officer, treasurer, vice president-finance or other authorized representative of such Person. 

“Restoration” shall mean the repair and restoration of the Property after a Casualty or Condemnation as nearly as
possible to the condition the Property was in immediately prior to such Casualty or Condemnation, with such alterations as may be approved by Lender, which approval shall not be unreasonably withheld, conditioned or delayed. 

“Restoration Threshold Amount” shall mean an amount equal to $5,000,000. 

“Restricted Party” shall mean Borrower or any direct shareholder, partner, member (springing or otherwise) or non
member manager thereof, or any direct or indirect legal or beneficial owner of, Borrower or any non member manager or springing member thereof. 

  
 -31-

 Rollover/Replacement Reserve Account” shall have the meaning set forth in
the Cash Management Agreement. 
 Rollover/Replacement Reserve Fund” shall have the meaning set forth in
Section 7.4.1 hereof. 
 “S&P” shall mean Standard & Poor’s Ratings Services, a
division of McGraw Hill, Inc. 
 “Sale or Pledge” shall mean a voluntary or involuntary sale,
conveyance, transfer or pledge of a direct or indirect legal or beneficial interest (other than in connection with a Condemnation). 
 “Secondary Market Transaction” shall have the meaning set forth in Section 9.1 hereof. 
 “Securities” shall have the meaning set forth in Section 9.1 hereof.  
 “Securitization” shall have the meaning set forth in Section 9.1 hereof.  
 “Securities Act” shall have the meaning set forth in Section 9.2(a) hereof.  
 “Security Deposits” shall have the meaning set forth in Section 5.1.17(e) hereof. 
 “Security Instrument” shall mean that certain first priority Mortgage, Fixture Filing and Security Agreement dated as of the date hereof, executed and delivered by Borrower as
security for the Loan and encumbering the Property, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time. 
 “Servicer” shall have the meaning set forth in Section 9.3 hereof. 
 “Servicing Agreement” shall have the meaning set forth in Section 9.3 hereof. 
 “Severed Loan Documents” shall have the meaning set forth in Section 8.2(c) hereof. 
 “Spread Maintenance Premium” shall mean, with respect to any repayment of the outstanding principal amount of the Loan on or prior to the Permitted Prepayment Date, a payment to
Lender in an amount equal to the present value discounted at LIBOR on the most recent LIBOR Determination Date with respect to any period when the Loan bears interest at the a Eurodollar Rate (or, with respect to any period when the Loan is a
Substitute Rate Loan, discounted at an interest rate that Lender believes, in its judgment, would equal LIBOR on such LIBOR Determination Date if LIBOR was then available), of all future installments of interest which would have been due hereunder
through and including the last calendar day of the Accrual Period in which the Permitted Prepayment Date occurs, on the portion of the outstanding principal balance of the Loan being prepaid as if interest accrued on such portion of the principal
balance being prepaid at an interest rate per annum equal to the Eurodollar Spread. The Spread Maintenance Premium shall be calculated by Lender and shall be final absent manifest error. 

  
 -32-

 “Standard Statement” shall have the meaning set forth in
Section 5.1.10(g)(i) hereof. 
 “State” shall mean any State of the United States of America or the
District of Columbia. 
 “Substitute Rate” shall have the meaning set forth in Section 2.2.3(a).

 “Substitute Rate Loan” shall mean the Loan at any time in which the Applicable Interest Rate is
calculated at the Substitute Rate plus the Substitute Spread in accordance with the provisions of Article II hereof. 

“Substitute Spread” shall have the meaning set forth in Section 2.2.3(a).  

“Successor Borrower” shall have the meaning set forth in Section 2.4.2 hereof. 

“Survey” shall mean a survey of the Property prepared by a surveyor licensed in the State where the Property is
located and satisfactory to Lender and the company or companies issuing the Title Insurance Policies, and containing a certification of such surveyor satisfactory to Lender. 
 “Syndication” shall have the meaning set forth in Section 9.7.2(a). 
 “Tax Reserve Account” shall have the meaning set forth in the Cash Management Agreement. 
 “Tax and Insurance Escrow Fund” shall have the meaning set forth in Section 7.2(c) hereof. 
 “Taxes” shall mean all real estate and personal property taxes, assessments, water rates or sewer rents, now or hereafter levied or assessed or imposed against the Property or part
thereof, together with interest and penalties thereon. 
 “Telerate Page 3750” means the display
designated as “Reuters Screen LIBOR01 Page” (formerly Telerate page 3750), or such other page or display as may replace such page or display, or such other service as may be nominated by the British Bankers-Association as the information
vendor for the purposes of displaying British Bankers-Association Interest Settlement Rates for U.S. dollar deposits. 

“Terrorism Insurance Cap” shall mean $578,600. 

“Third Party Reports” shall have the meaning set forth in Section 4.1.32 hereof. 

“Title Insurance Policy” shall mean, with respect to the Property, an ALTA mortgagee title insurance policy in a
form acceptable to Lender (or, if the Property is located in a State which does not permit the issuance of such ALTA policy, such form as shall be permitted in such State and acceptable to Lender) issued with respect to the Property and insuring the
lien of the Security Instrument encumbering the Property. 

  
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 “Transfer” shall have the meaning set forth in
Section 5.2.10(a) hereof.  
 “Transferee” shall have the meaning set forth in
Section 5.2.1l(b) hereof.  
 “TRIA” shall have the meaning set forth in Section 6.1(b)
hereof 
 “UCC” or “Uniform Commercial Code” shall mean the Uniform Commercial
Code as in effect in the State in which the Property is located. 
 “Underwriter Group” shall have the
meaning set forth in Section 9.2(b) hereof. 
 Section 1.2 Principles of Construction. All references to
sections and schedules are to sections and schedules in or to this Agreement unless otherwise specified. All uses of the word “including” shall mean “including, without limitation” unless the context shall indicate otherwise.
Unless otherwise specified, the words “hereof,” “herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this
Agreement. Unless otherwise specified, all meanings attributed to defined terms herein shall be equally applicable to both the singular and plural forms of the terms so defined. 

ARTICLE II 

GENERAL TERMS 
 Section 2.1 Loan Commitment; Disbursement to Borrower. 
 2.1.1
Agreement to Lend and Borrow. Subject to and upon the terms and conditions set forth herein, Lender hereby agrees to make and Borrower hereby agrees to accept the Loan on the Closing Date. 

2.1.2 Single Disbursement to Borrower. Borrower may request and receive only one borrowing hereunder in respect of the Loan. Any
amount borrowed and repaid hereunder in respect of the Loan may not be reborrowed. 
 2.1.3 The Note, Security Instrument and
Loan Documents. The Loan shall be evidenced by the Note and secured by the Security Instrument, the Assignment of Leases and the other Loan Documents. 
 2.1.4 Use of Proceeds. Borrower shall use the proceeds of the Loan to (a) finance the Property, (b) pay all past due Basic Carrying Costs, if any, with respect to the Property,
(c) make deposits into the Reserve Funds on the Closing Date in the amounts provided herein or in the other Loan Documents, (d) pay costs and expenses incurred in connection with the financing of the Property, (e) pay costs and
expenses incurred in connection with the closing of the Loan, as approved by Lender, and/or (f) fund any working capital requirements of the Property. 

  
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 Section 2.2 Interest; Loan Payments; Late Payment Charge. 

2.2.1 Payments. 
 (a) Payments Generally. Interest on the outstanding principal balance of the Loan shall accrue from and including the Closing Date to and including the last day of the Accrual Period in which the
Maturity Date occurs at the Applicable Interest Rate (even if such period extends beyond the Maturity Date). The Monthly Debt Service Payment Amount shall be paid on each Payment Date commencing with the Payment Date occurring in August, 2007 and on
each subsequent Payment Date thereafter up to and including the Payment Date preceding the Maturity Date. Provided no Event of Default shall have occurred and be continuing, each such payment shall be applied to the payment of interest that has
accrued and will accrue during the Accrual Period in which the Payment Date occurs (calculated in accordance with Section 2.2.2 below). 
 (b) No Offsets, etc. All payments and other amounts due under the Note, this Agreement and the other Loan Documents shall be made without any setoff, defense or irrespective of, and without
deduction for, counterclaims. 
 (c) Extension of the Maturity Date. Borrower shall have the option to extend the term of
the Loan beyond the initial Maturity Date for three (3) successive terms (the “Extension Option”) of one (1) year each (each, an “Extension Period”) to (x) the Payment Date occurring in
August, 2010 if the first Extension Option is exercised, (y) the Payment Date occurring in August, 2011 if the second Extension Option is exercised and (z) the Payment Date occurring in August, 2012 if the last Extension Option is
exercised (each such date, the “Extended Maturity Date”) upon satisfaction of the following terms and conditions: 
 (i) no Event of Default shall have occurred and be continuing at the time an Extension Option is exercised and on the date that the applicable Extension Period is commenced; 

(ii) Borrower shall notify Lender of its irrevocable election to extend the Maturity Date as aforesaid not earlier than
sixty (60) days and no later than thirty (30) days prior to the Maturity Date; provided, however, that Borrower shall be permitted to revoke such notice at any time up to five (5) days before the Maturity Date
provided that Borrower pays to Lender all actual out-of-pocket costs incurred by Lender in connection with such notice, including, without limitation, any Breakage Costs; 

(iii) Borrower shall obtain and deliver to Lender prior to exercise of such Extension Option, one or more Replacement
Interest Rate Cap Agreements having a LIBOR strike price not greater than 6.25%, which Replacement Interest Rate Cap Agreements shall be effective commencing on the first day of such Extension Option and shall have a maturity date not earlier than
the then current Extended Maturity Date; 
 (iv) Borrower shall have paid to Lender the Extension Fee on or prior
to the commencement of each Extension Period; and 

  
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 (v) Borrower shall have paid to Lender funds for deposit into the
Rollover/Replacement Reserve Account to the extent necessary based on the then anticipated Leasing Expenses calculated at a rate of $1.25 per square foot with respect to Leasing Expenses (and such funds will be disbursed to Borrower in accordance
with Section 7.4 to be used solely for Leasing Expenses), and $0.25 per square foot with respect to Replacements (and such funds shall be disbursed to Borrower in accordance with Section 7.4 to be used solely for Replacements), during the
Extension Period for which an Extension Option is being exercised; and 
 (vi) Borrower shall have paid to Lender
funds for deposit into the Debt Service Shortfall Reserve Account in an amount equal to the projected shortfall in the Aggregate Debt Service payments during the Extension Period for which an Extension Option is being exercised, as determined by
Lender in its reasonable discretion and using a per annum interest rate (A) for the Loan, equal to the sum of (1) the actual LIBOR strike price set forth in the Replacement Interest Rate Cap Agreement required under subsection
(iii) above; provided, however, that such LIBOR strike price shall in no event be greater than 6.25%, plus (2) the Eurodollar Spread, (B) for Mezzanine Loan A, equal to the sum of (1) the actual LIBOR strike price
set forth in the Replacement Interest Rate Cap Agreement required under Section 2.2.1(c)(iii) of the Mezzanine A Loan Agreement, plus (2) the Eurodollar Spread (as defined in the Mezzanine A Loan Agreement), (C) for Mezzanine Loan B,
equal to the sum of the actual LIBOR strike price set forth in the Replacement Interest Rate Cap Agreement required under Section 2.2.1(c)(iii) of the Mezzanine B Loan Agreement, plus (2) the Eurodollar Spread (as defined in the Mezzanine
B Loan Agreement), and (D) for Mezzanine Loan C, equal to the sum of the actual LIBOR strike price set forth in the Replacement Interest Rate Cap Agreement required under Section 2.2.1(c)(iii) of the Mezzanine B Loan Agreement, plus
(2) the Eurodollar Spread (as defined in the Mezzanine C Loan Agreement). 
 (d) All references in this Agreement and in
the other Loan Documents to the Maturity Date shall mean the Extended Maturity Date in the event the applicable Extension Option is exercised. 
 (e) All payments and other amounts due under the Note, this Agreement and the other Loan Documents shall be made without any setoff, defense or irrespective of, and without deduction for, counterclaims.

 2.2.2 Interest Calculation. Interest on the outstanding principal balance of the Loan shall be calculated by
multiplying (a) the actual number of days elapsed in the Accrual Period for which the calculation is being made by (b) a daily rate equal to the Applicable Interest Rate divided by three hundred sixty (360) by (c) the outstanding
principal balance of the Loan. 
 2.2.3 Eurodollar Rate or Substitute Rate Unascertainable; Illegality; Increased Costs.

 (a) In the event that Lender shall have determined (which determination shall be conclusive and binding upon Borrower absent
manifest error) that by reason of circumstances affecting the interbank eurodollar market, adequate and reasonable means do not exist for 

  
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ascertaining LIBOR, then Lender shall, by notice to Borrower (“Lender’s Notice”), which notice shall set forth in reasonable detail such circumstances, establish the
Applicable Interest Rate at a spread (the “Substitute Spread”) above a published index used for other variable rate loans and chosen by Lender (the “Substitute Rate”) such that such Substitute Rate
shall yield to Lender a rate of return substantially the same as (but no less than) the rate of return Lender would have realized had the Applicable Interest Rate been the Eurodollar Rate, all as reasonably determined by Lender. If, pursuant to the
terms of this Agreement, the Loan has been converted to a Substitute Rate Loan and Lender shall determine (which determination shall be conclusive and binding upon Borrower absent manifest error) that the event(s) or circumstance(s) which resulted
in such conversion shall no longer be applicable, Lender shall give notice thereof to Borrower, and the Substitute Rate Loan shall automatically convert to a LIBOR Loan on the effective date set forth in such notice. Notwithstanding any provision of
this Agreement to the contrary, in no event shall Borrower have the right to elect to convert a LIBOR Loan to a Substitute Rate Loan. If any requirement of law or any change therein or in the interpretation or application thereof, shall hereafter
make it unlawful for Lender to make or maintain a LIBOR Loan as contemplated hereunder, (i) the obligation of Lender hereunder to make a LIBOR Loan shall be cancelled forthwith and (ii) Lender may give Borrower a Lender’s Notice,
establishing the Applicable Interest Rate at the Substitute Rate plus the Substitute Spread, in which case the Applicable Interest Rate shall be a rate equal to the Substitute Rate in effect from time to time plus the Substitute Spread. In the event
the condition necessitating the cancellation of Lender’s obligation to make a LIBOR Loan hereunder shall cease, Lender shall promptly notify Borrower of such cessation and the Loan shall resume its characteristics as a LIBOR Loan in accordance
with the terms herein from and after the first day of the Interest Period next following such cessation. Borrower hereby agrees promptly to pay Lender, upon demand, any additional amounts necessary to compensate Lender for any reasonable
out-of-pocket costs actually incurred by Lender in making any conversion in accordance with this Agreement, including, without limitation, any interest or fees payable by Lender to lenders of funds obtained by it in order to make or maintain the
LIBOR Loan hereunder. Lender’s notice of such costs, as certified to Borrower, shall be set forth in reasonable detail and Lender’s calculation shall be conclusive absent manifest error. 

(b) In the event that any change in any requirement of any Applicable Law or in the interpretation or application thereof, or compliance
in good faith by Lender or any Co-Lender with any request or directive hereafter issued from any Governmental Authority which is generally applicable to all lenders subject to such Governmental Authority’s jurisdiction: 

(i) shall hereafter impose, modify, increase or hold applicable any reserve, special deposit, compulsory loan or similar
requirement against assets held by, or deposits or other liabilities in or for the account of, advances or loans by, or other credit extended by, or any other acquisition of funds by, any office of Lender or any Co-Lender which is not otherwise
included in the determination of LIBOR hereunder; 
 (ii) shall, if the Loan is then bearing interest at the
Eurodollar Rate, hereafter have the effect of reducing the rate of return on Lender’s or any Co-Lender’s capital as a consequence of its obligations hereunder to a level below that which Lender or any Co-Lender could have achieved but for
such adoption, change or compliance (taking into 

  
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consideration Lender’s or any Co-Lender’s policies with respect to capital adequacy) by any amount deemed by Lender or any Co-Lender to be material; or 

(iii) shall, if the Loan is then bearing interest at the Eurodollar Rate, hereafter impose on Lender or any Co-Lender any
other condition, the result of which is to increase the cost to Lender or such Co-Lender of making, renewing or maintaining loans or extensions of credit or to reduce any amount receivable hereunder; 

then, in any such case, Borrower shall promptly pay Lender or such Co-Lender (within ten (10) Business Days of Lender’s or such
Co-Lender’s written demand therefor), any additional amounts necessary to compensate Lender or such Co-Lender for such additional cost or reduced amount receivable which Lender or such Co-Lender deems to be material in its reasonable
discretion. If Lender or any Co-Lender becomes entitled to claim any additional amounts pursuant to this Section 2.2.3(c), Lender and such Co-Lender shall provide Borrower with not less than ten (10) Business Days written notice specifying
in reasonable detail the event or circumstance by reason of which it has become so entitled and the additional amount required to fully compensate Lender and such Co-Lender for such additional cost or reduced amount. A certificate as to any
additional costs or amounts payable pursuant to the foregoing sentence submitted by Lender or such Co-Lender to Borrower shall be conclusive absent manifest error. Subject to Section 2.2.3(e) hereof, this provision shall survive payment of the
Note and the satisfaction of all other obligations of Borrower under the Note, this Agreement and the other Loan Documents. 

(c) Subject to Section 9.4 hereof, after the occurrence of a Syndication of all or any portion of the Loan Borrower agrees to
indemnify Lender and the Co-Lenders and to hold Lender and the Co-Lenders harmless from any actual, out-of-pocket loss or expense which Lender or any Co-Lender sustains or incurs as a consequence of (I) any default by Borrower in payment of the
principal of or interest on the Loan while bearing interest at the Eurodollar Rate, including, without limitation, any such loss or expense arising from interest or fees payable by Lender or any Co-Lenders to lenders of funds obtained by it in order
to maintain the Eurodollar Rate, (II) any prepayment (whether voluntary or mandatory) of the Loan on a day that (A) is not the Payment Date occurring on the last day of an Accrual Period with respect thereto or (B) is the Payment Date
occurring on the last day of an Accrual Period with respect thereto if Borrower did not give the prior written notice of such prepayment required pursuant to the terms of this Agreement, including, without limitation, such loss or expense arising
from interest or fees payable by Lender or any Co-Lender to lenders of funds obtained by it in order to maintain the Eurodollar Rate hereunder and (III) the conversion of the Applicable Interest Rate from the Eurodollar Rate to the Substitute Rate
with respect to any portion of the outstanding principal amount of the Loan then bearing interest at the Eurodollar Rate on a date other than the Payment Date immediately following the last day of an Accrual Period, including, without limitation,
such loss or expenses arising from interest or fees payable by Lender or any Co-Lender to lenders of funds obtained by it in order to maintain the Eurodollar Rate hereunder (the amounts referred to in clauses (I), (II) and (III) are herein referred
to collectively as the “Breakage Costs”). Subject to Section 2.2.3 hereof, this provision shall survive payment of the Note and the satisfaction of all other obligations of Borrower under this Agreement and the other
Loan Documents. Notwithstanding anything to the contrary contained in this Agreement, there shall be no 

  
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Breakage Costs applicable to any portion of the Loan after the occurrence of a Securitization (other than a Syndication) of the entire Loan. 

(d) Neither Lender nor the applicable Co-Lender shall be entitled to claim compensation pursuant to this Section 2.2.3 or
Section 2.2.8 for any increased cost or reduction in amounts received or receivable hereunder, or any reduced rate of return, which was incurred or which accrued more than the earlier of (i) ninety (90) days before the date Lender or
the applicable Co-Lender notified Borrower of the change in law or other circumstance on which such claim of compensation is based and delivered to Borrower a written statement setting forth in reasonable detail the basis for calculating the
additional amounts owed to Lender or the applicable Co-Lender under this Section 2.2.3 or Section 2.2.8, which statement shall be conclusive and binding upon all parties hereto absent manifest error or (ii) any earlier date (but not
earlier than the effective date of such change in law or circumstance) provided that Lender notified Borrower of such change in law or circumstance and delivered the written statement referenced in clause (i) within one ninety
(90) days after Lender received written notice of such change in law or circumstance. Each Lender or Co-Lender must use reasonable efforts to avoid or reduce or any other increased costs. 

(e) This Section shall not apply to increased costs with respect to Indemnified Taxes, which shall be governed solely by
Section 2.2.8. 
 2.2.4 Intentionally Deleted. 

2.2.5 Payment on Maturity Date. Borrower shall pay to Lender on the Maturity Date the outstanding principal balance of the Loan,
all accrued and unpaid interest and all other amounts due hereunder and under the Note, the Security Instrument and the other Loan Documents, including, without limitation, all interest that would accrue on the outstanding principal balance of the
Loan through and including the end of the Accrual Period in which the Maturity Date occurs (even if such Accrual Period extends beyond the Maturity Date). 
 2.2.6 Payments after Default. Upon the occurrence and during the continuance of an Event of Default, interest on the outstanding principal balance of the Loan and, to the extent permitted by
Applicable Law, overdue interest and other amounts due in respect of the Loan, shall accrue at the Default Rate, calculated from the date such payment was due without regard to any grace or cure periods contained herein. Interest at the Default Rate
shall be computed from the occurrence and continuance of an Event of Default until the actual receipt and collection of the Debt (or that portion thereof that is then due). To the extent permitted by Applicable Law, unpaid interest at the Default
Rate shall be added to the Debt, shall itself accrue interest at the same rate as the Loan and shall be secured by the Security Instrument. This paragraph 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. 

2.2.7 Late Payment Charge. If any Monthly Debt Service Payment Amount is not paid by Borrower on or prior to the date on which it
is due or any other sums due under the Loan Documents (other than the payment of the balance of the principal sum of the Note due on the Maturity Date) are not paid by Borrower within five (5) days of written demand therefor,

  
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Borrower shall pay to Lender upon demand an amount equal to the lesser of five percent (5%) of such unpaid sum or the maximum amount permitted by Applicable Law in order to defray the
expense incurred by Lender in handling and processing such delinquent payment and to compensate Lender for the loss of the use of such delinquent payment. Any such amount shall be secured by the Security Instrument and the other Loan Documents to
the extent permitted by Applicable Law. 
 2.2.8 Indemnified Taxes. All payments made by Borrower hereunder shall be made
free and clear of, and without reduction for or on account of, Indemnified Taxes. If any Indemnified Taxes are required by Applicable Law to be withheld from any amounts payable to Lender or any Co-Lender hereunder, the amounts so payable to Lender
or such Co-Lender shall be increased to the extent necessary to yield to Lender or such Co-Lender (after payment of all Indemnified Taxes and all taxes with respect to such increased amounts) interest or any such other amounts payable hereunder at
the rate or in the amounts specified hereunder and due at that time. Whenever any Indemnified Tax is payable pursuant to Applicable Law by Borrower, Borrower shall send to Lender or the applicable Co-Lender an original official receipt if available,
showing payment of such Indemnified Tax or other evidence of payment reasonably satisfactory to Lender or the applicable Co-Lender. Borrower hereby indemnifies Lender and each Co-Lender for any incremental taxes, interest or penalties that may
become payable by Lender or any Co-Lender which may result from any failure by Borrower to pay any such Indemnified Tax when due to the appropriate taxing authority or any failure by Borrower to remit to Lender or any Co-Lender the required receipts
or other required documentary evidence. Each Lender and each Co-Lender (and any successor and/or assign of such Lender or such Co-Lender, as applicable) shall deliver to Borrower on or prior to the date on which such Lender or such Co-Lender, as
applicable, becomes a party to this Agreement (i) two duly completed copies of United States Internal Revenue Service Form W-8BEN, W-8IMY (with all the requisite attachments) or Form W-8ECI or successor applicable form, as the case may be,
certifying in each case that such entity is entitled to receive payments under the Note, without deduction or withholding of any United States federal income taxes, (ii) two duly completed copies of an Internal Revenue Service Form W-9 or
successor applicable form, as the case may be, to establish an exemption from United States backup withholding tax, or (iii) in the case of a Lender or Co-Lender that is a foreign corporation claiming such an exemption under Section 881(c)
of the Code, a duly completed certificate to the effect that such Lender or Co-Lender is not (A) a “bank” within the meaning of section 881(c)(3)(A) of the Code, (B) a “10 percent shareholder” of such Borrower within
the meaning of section 881(c)(3)(B) of the Code, or (C) a “controlled foreign corporation” described in section 881(c)(3)(C) of the Code. Each entity required to deliver to Borrower a Form W-8BEN, W-8IMY or W-8ECI or Form W-9 pursuant
to the preceding sentence further undertakes to deliver to Borrower two further copies of Form W-8BEN, W-8IMY or Form W-8ECI or Form W-9, or successor applicable forms, as the case may be, on or before the date that any such form expires or becomes
obsolete or after the occurrence of any event requiring a change in the most recent form previously delivered by it to Borrower, or upon request by Borrower, certifying in the case of a Form W-8BEN or Form W-8ECI that such entity is entitled to
receive payments under the Note without deduction or withholding of any United States federal income taxes, unless in any such case an event (including, without limitation, any change in treaty, law or regulation) has occurred prior to the date on
which any such delivery would otherwise be required which renders all such forms inapplicable or which would prevent such entity from duly completing and delivering any such 

  
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form with respect to it, and such entity notifies Borrower; it being understood that in the case of any such event that prevents a Lender or Co-Lender from continuing to provide a Form W-8IMY
establishing an exemption from withholding by the Borrower, the Borrower shall not be required to increase amounts payable pursuant to this Section 2.2.8 by an amount greater than would have been required had such Lender or Co-Lender or an
affiliate thereof not been acting as an intermediary with respect to such amounts. Notwithstanding the foregoing, if such entity fails to provide a duly completed Form W-8BEN or Form W-8ECI or other applicable form and such entity is otherwise
entitled under Applicable Law to receive payments under the Note without deduction or withholding of any United States federal income taxes and, under Applicable Law, in order to avoid liability for Indemnified Taxes, Borrower is required to
withhold on payments made to such entity that has failed to provide the applicable form, Borrower shall be entitled to withhold the appropriate amount of Indemnified Taxes without grossing up such entity, provided that Borrower will make
commercially reasonable efforts to obtain the applicable certification. In such event, Borrower shall promptly provide to such entity evidence of payment of such Indemnified Taxes to the appropriate taxing authority and shall promptly forward to
such entity any official tax receipts or other documentation with respect to the payment of the Indemnified Taxes as may be issued by the taxing authority. 
 2.2.9 Treatment of Certain Refunds or Credits. If Lender or Co-Lender (or any successor and/or assign of such Lender or such Co-Lender, as applicable) determines, in its reasonable discretion, that
it has received a refund of any Indemnified Taxes as to which it has been indemnified by Borrower or with respect to which Borrower has paid additional amounts pursuant to Section 2.2.8, it shall pay to Borrower an amount equal to such refund
(but only to the extent of indemnity payments made, or additional amounts paid, by or on behalf of Borrower under Section 2.2.8 with respect to Indemnified Taxes giving rise to such recovery), net of all out-of-pocket expenses (including taxes)
of such Lender or such Co-Lender, as the case may be, and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund); provided that Borrower, upon the request of such Lender or such
Co-Lender, agrees to repay to such Lender or such Co-Lender, as the case may be, the amount paid over to Borrower (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event such Lender or such
Co-Lender is required to repay such refund to such Governmental Authority. This section shall not be construed to require such Lender or such Co-Lender to make any claim for refund of Taxes or make available its tax returns (or any other information
relating to its taxes which it deems confidential) to Borrower or any other Person. 
 2.2.10 Usury Savings. This
Agreement and the Note are subject to the express condition that at no time shall Borrower be obligated or required to pay interest on the principal balance of the Loan at a rate which could subject Lender to either civil or criminal liability as a
result of being in excess of the Maximum Legal Rate. If, by the terms of this Agreement or the other Loan Documents, Borrower is at any time required or obligated to pay interest on the principal balance due hereunder at a rate in excess of the
Maximum Legal Rate, the Applicable Interest Rate or the Default Rate, as the case may be, shall be deemed to be immediately reduced to the Maximum Legal Rate and all previous payments in excess of the Maximum Legal 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 sums due under the Loan, shall, to the extent permitted by Applicable
Law, be 

  
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amortized, prorated, allocated, and spread throughout the full stated term of the Loan until payment in full so that the rate or amount of interest on account of the Loan does not exceed the
Maximum Legal Rate of interest from time to time in effect and applicable to the Loan for so long as the Loan is outstanding. 

Section 2.3 Prepayments. 
 2.3.1 Voluntary Prepayments. Except as otherwise provided in this Section 2.3.1 and in Section 2.3.2, Borrower shall not have the right to prepay the Loan, in whole or in part, prior to
the Maturity Date. Borrower shall have no right to prepay the Loan, in whole or in part, prior to the Payment Date occurring in February 2008. On and after the Payment Date occurring in February 2008 Borrower may, upon at least ten (10) days
prior written notice to Lender, prepay the Loan in whole but not in part at anytime, provided however if such prepayment occurs prior to the Payment Date occurring in August, 2008 (the “Permitted Prepayment
Date”), Borrower shall also pay Lender the applicable Spread Maintenance Premium. On the Permitted Prepayment Date or on any date thereafter, Borrower may, at its option and upon at least ten (10) days prior written notice to
Lender, prepay the entire Debt without payment of the Spread Maintenance Premium. Borrower may revoke any notice of prepayment at any time prior to the date of such prepayment. Borrower shall promptly reimburse Lender for any reasonable
out-of-pocket costs and expenses associated with any such revocation. In addition, Borrower agrees that (a) in the event that a prepayment shall be made during the period commencing on the first calendar day immediately following a Payment Date
to, but not including, the LIBOR Determination Date in such calendar month, such payment shall be accompanied by a payment of interest on the amount of principal being prepaid that Lender determines would be payable by Borrower if such prepayment
had been made on or after such LIBOR Determination Date but prior to the succeeding Payment Date calculated using a per annum interest rate equal to 6.25% plus the Eurodollar Spread (such amount, the “Estimated Interest
Payment”). In the event that the Estimated Interest Payment paid by Borrower to Lender exceeds the amount that otherwise would have been payable by Borrower if the final interest payment amount was calculated based on the interest rate
determined on the applicable LIBOR Determination Date (the “Actual Required Payment”), Lender shall refund to Borrower an amount equal to the Estimated Interest Payment minus the Actual Required Payment. In the event
the Estimated Interest Payment paid by Borrower is less than the Actual Required Payment, Borrower shall, promptly upon demand by Lender, pay to Lender an amount equal to the Actual Required Payment minus the Estimated Interest Payment;
(b) if such prepayment is made on a Payment Date, then in connection with such prepayment Borrower shall pay to Lender, simultaneously with such prepayment, all interest on the principal balance of the Note then being prepaid which would have
accrued through the end of the Accrual Period then in effect notwithstanding that such Accrual Period extends beyond the date of such prepayment; and (c) subject to subsection (a) above, if such prepayment is made on a day other than a
Payment Date, then in connection with such prepayment Borrower shall pay to Lender, simultaneously with such prepayment, all interest on the principal balance of the Note then being prepaid which would have accrued through the end of the Accrual
Period then in effect notwithstanding that such Accrual Period extends beyond the date of such prepayment; provided, however, that if such date is a date on or after the LIBOR Determination Date in such calendar month and prior to the
first day of the Accrual Period that commences in such calendar month, Borrower shall also pay to Lender in connection with such prepayment all interest on the 

  
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principal balance of this Note then being prepaid which would have accrued through the end of the next succeeding Accrual Period. Any prepayment received by Lender on a date other than a Payment
Date shall be held by Lender as collateral security for the Loan and shall be applied to the Debt on the next Payment Date. 

2.3.2 Mandatory Prepayments. On each date on which Borrower actually receives any Net Proceeds, if Lender is not obligated, or
does not elect, to make such Net Proceeds available to Borrower for the Restoration of the Property pursuant to the terms of this Agreement, Borrower shall prepay the outstanding principal balance of the Note in an amount equal to one hundred
percent (100%) of such Net Proceeds together with (i) in the event that such Net Proceeds are received on or before a Payment Date, interest accruing on such amount calculated through and including the end of the Accrual Period in which
such Monthly Payment Date occurs, or (ii) in the event that such Net Proceeds are received on a date after a Payment Date, interest accruing on such amount calculated through and including the end of Interest Period in which the next Payment
Date occur. No Spread Maintenance Premium shall be due in connection with any prepayment made pursuant to this Section 2.3.2. 
 2.3.3 Prepayments After Default. If, following the occurrence and during the continuance of an Event of Default, payment of all or any part of the Debt is tendered by Borrower or otherwise
recovered by Lender, such tender or recovery shall be deemed a voluntary prepayment by Borrower in violation of the prohibition against prepayment set forth in Section 2.3.1 and Borrower shall pay, in addition to the Debt, (i) an amount
equal to the greater of (a) one percent (1%) of the outstanding principal amount of the Loan to be prepaid or satisfied, or (b) the Spread Maintenance Premium, (ii) all accrued and unpaid interest on the amount of principal being
prepaid (including, without limitation, (x) in the event that such prepayment is received on or before a Payment Date, interest accruing on such amount calculated through and including the end of the Accrual Period in which such Payment Date
occurs, or (b) in the event that such prepayment is received on a date after a Payment Date, interest accruing on such amount calculated through and including the end of Accrual Period in which the next Payment Date occurs), (iii) to the
extent applicable, Breakage Costs and (iv) other amounts payable under the Loan Documents. Notwithstanding anything contained herein to the contrary, the amounts set forth in clause (i) above shall not be payable if the related payment is
tendered on or after the Permitted Prepayment Date. 
 2.3.4 Making of Payments. Each payment by Borrower hereunder or
under the Note shall be made in funds settled through the New York Clearing House Interbank Payments System or other funds immediately available to Lender by 12:00 noon, New York City time, on or prior to the date such payment is due, to Lender by
deposit to such account as Lender may designate by written notice to Borrower. Whenever any payment hereunder or under the Note shall be stated to be due on a day which is not a Business Day, such payment shall be made on the Business Day
immediately preceding such day. 
 2.3.5 Application of Principal Prepayments. All prepayments received pursuant to this
Section 2.3 shall be applied to the payments of principal due under the Loan in the inverse order of maturity. 

  
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 Section 2.4 Interest Rate Cap Agreement. (a) Borrower shall purchase one or
more Interest Rate Cap Agreements (i) for a period to expire on the initial Maturity Date, (ii) in a notional amount not less than the outstanding principal balance of the Loan, (iii) having a LIBOR strike price not greater than 6.25%
and (iv) which otherwise comply with the requirements of this Section 2.4. Thereafter, Borrower shall purchase prior to each Extension Period, and shall maintain throughout the remaining term of the Loan, an Interest Rate Cap Agreement or
Interest Rate Cap Agreements, or replacements, increases or amendments thereto, in a notional amount not less than the then outstanding principal balance of the Loan, for a period beginning on the first day of the applicable Extension Period and
ending on the last calendar day of the Accrual Period in which the applicable Maturity Date occurs and otherwise complying with the requirements of this Section 2.4. Each Interest Rate Cap Agreement delivered after the initial Maturity Date
shall provide for a LIBOR strike price not greater than 6.25%. The Counterparty shall be obligated under the Interest Rate Cap Agreement to make monthly payments equal to the excess of one (1) month LIBOR over the applicable strike rate
required pursuant to this subsection (a) calculated on the notional amount. The notional amount of the Interest Rate Cap Agreement may be reduced from time to time in amounts equal to any prepayment of the principal of the Loan in accordance
with Section 2.3 hereof and Borrower may sell any such excess notional amount. 
 (b) Borrower shall collaterally assign to
Lender pursuant to a Collateral Assignment of Interest Rate Cap Agreement, all of its right, title and interest to receive any and all payments under the Interest Rate Cap Agreement (and any related guarantee, if any) and shall deliver to Lender an
executed counterpart of such Interest Rate Cap Agreement and notify the Counterparty of such collateral assignment (either in such Interest Rate Cap Agreement or by separate instrument). The Counterparty shall agree in writing to make all payments
it is required to make under the Interest Rate Cap Agreement directly to the Deposit Account where such payments shall be applied in accordance with the terms of Section 3.3 of the Cash Management Agreement. At such time as the Loan is repaid
in full, all of Lender’s right, title and interest in the Interest Rate Cap Agreement shall terminate and Lender shall promptly execute and deliver at Borrower’s sole cost and expense, such documents as may be required to evidence
Lender’s release of the Interest Rate Cap Agreement and to notify the Counterparty of such release. 
 (c) Borrower shall
comply with all of its obligations under the terms and provisions of the Interest Rate Cap Agreement. Borrower shall take all actions reasonably requested by Lender to enforce Lender’s rights under the Interest Rate Cap Agreement in the event
of a default by the Counterparty and shall not waive, amend or otherwise modify in any material respect any of its rights thereunder, without Lender’s consent, not to be unreasonably withheld. 

(d) In the event of any downgrade or withdrawal of the rating of such Counterparty by any Rating Agency below the Minimum Counterparty
Rating, Borrower shall replace the Interest Rate Cap Agreement not later than thirty (30) days following receipt of notice of such downgrade or withdrawal with an Interest Rate Cap Agreement from an Acceptable Counterparty having a Minimum
Counterparty Rating; provided, however, that if any Rating Agency withdraws or downgrades the credit rating of the Counterparty below the Minimum Counterparty Rating, Borrower shall not be required to replace the Counterparty under the
Interest Rate Cap Agreement provided that within thirty (30) days following notice to 

  
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Borrower of such downgrade or withdrawal (y) such Counterparty or an Affiliate thereof posts additional collateral acceptable to the Rating Agencies from time to time securing its
obligations under the Interest Rate Cap Agreement or (z) an Affiliate of such Counterparty with a Minimum Counterparty Rating delivers a guaranty acceptable to the Rating Agencies guaranteeing such Counterparty’s obligations under the
Interest Rate Cap Agreement; provided that, notwithstanding any such downgrade or withdrawal, unless and until the Counterparty transfers the Interest Rate Cap Agreement to a replacement Acceptable Counterparty pursuant to the foregoing
clause (z), the Counterparty will continue to perform its obligations under the Interest Rate Cap Agreement. Notwithstanding the foregoing, if S&P or Fitch withdraws or downgrades the long-term credit rating of such Counterparty below
“BBB-” or short term credit rating below “A-3”, or Moody’s withdraws or downgrades the credit rating of such Counterparty below “A2” (if the Counterparty has only a long term rating from Moody’s) or below
“A3” or “P-2” (if the Counterparty has both long term and short term ratings from Moody’s), Borrower shall replace the Interest Rate Cap Agreement not later than thirty (30) days following receipt of notice of such
downgrade or withdrawal with an Interest Rate Cap Agreement from an Approved Counterparty having a Minimum Counterparty Rating. Failure to satisfy any of the foregoing shall constitute an “Additional Termination Event” as defined by
Section 5(b)(v) of the ISDA Master Agreement, with the Counterparty as the “Affected Party.” 
 (e) In the event
that Borrower fails to purchase and deliver to Lender the Interest Rate Cap Agreement or any Replacement Interest Cap Agreement as and when required hereunder, Lender may purchase such Interest Rate Cap Agreement and the cost incurred by Lender in
purchasing such Interest Rate Cap Agreement shall be paid by Borrower to Lender with interest thereon at the Default Rate from the date such cost was incurred by Lender until such cost is paid by Borrower to Lender. 

(f) In connection with an Interest Rate Cap Agreement, Borrower shall obtain and deliver to Lender an opinion of counsel from counsel
(which may be in house counsel) for the Counterparty (upon which Lender and its successors and assigns may rely) which shall provide, in relevant part, that: 
 (1) the Counterparty is duly organized, validly existing, and in good standing under the laws of its jurisdiction of incorporation and has the organizational power and authority to execute and deliver,
and to perform its obligations under, the Interest Rate Cap Agreement; 
 (2) the execution and delivery of the
Interest Rate Cap Agreement by the Counterparty, and any other agreement which the Counterparty has executed and delivered pursuant thereto, and the performance of its obligations thereunder have been and remain duly authorized by all necessary
action and do not contravene any provision of its certificate of incorporation or by-laws (or equivalent Organizational Documents) or any law, regulation or contractual restriction binding on or affecting it or its property; 

(3) all consents, authorizations and approvals required for the execution and delivery by the Counterparty of the Interest
Rate Cap 

  
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Agreement, and any other agreement which the Counterparty has executed and delivered pursuant thereto, and the performance of its obligations thereunder have been obtained and remain in full
force and effect, all conditions thereof have been duly complied with, and no other action by, and no notice to or filing with any governmental authority or regulatory body is required for such execution, delivery or performance; and 

(4) the Interest Rate Cap Agreement, and any other agreement which the Counterparty has executed and delivered pursuant
thereto, has been duly executed and delivered by the Counterparty and constitutes the legal, valid and binding obligation of the Counterparty, enforceable against the Counterparty in accordance with its terms, subject to applicable bankruptcy,
insolvency and similar laws affecting creditors’ rights generally, and subject, as to enforceability, to general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law); or 

(5) be in form and scope reasonably acceptable to Lender and otherwise satisfy then current market standards the holder of
the Note customarily adheres with respect to Interest Rate Cap Agreement opinions. 
 Section 2.5 Release of
Property. Except as set forth in this Section 2.5, no repayment, or prepayment of all or any portion of the Loan shall cause, give rise to a right to require, or otherwise result in, the release of any Lien of the Security Instrument on the
Property. 
 2.5.1 Intentionally Deleted. 
 2.5.2 Release on Payment in Full. Lender shall, upon the written request and at the expense of Borrower, upon payment in full of all principal and interest due on the Loan (including by way of
prepayment pursuant to Section 2.3 hereof) and all other amounts due and payable under the Loan Documents in accordance with the terms and provisions of the Note and this Agreement, release the Lien of the Security Instrument on the Property
and the other Loan Documents if not thereto for released and remit any remaining Reserve Funds to Borrower. Any release or assignment delivered by Lender pursuant to this Section 2.5 shall be at Borrower’s sole cost and expense.

  
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 ARTICLE III 
 INTENTIONALLY OMITTED 
 ARTICLE IV 

REPRESENTATIONS AND WARRANTIES 
 Section 4.1 Borrower Representations. Borrower represents and warrants as of the Closing Date that: 
 4.1.1 Organization. Borrower is duly organized and is validly existing and in good standing in the jurisdiction in which it is organized, with requisite power and authority to own the Property and
to transact the businesses in which it is now engaged. Borrower is duly qualified to do business and is in good standing in each jurisdiction where it is required to be so qualified in connection with the Property, businesses and operations.
Borrower possesses all rights, licenses, permits and authorizations, governmental or otherwise, necessary to entitle it to own the Property and to transact the businesses in which it is now engaged. The organizational chart of Borrower attached
hereto as Schedule IV is true, correct and complete as of the Closing Date. 
 4.1.2 Proceedings. Borrower has taken all
necessary action to authorize the execution, delivery and performance of this Agreement and the other Loan Documents. This Agreement and the other Loan Documents have been duly executed and delivered by or on behalf of Borrower and constitute legal,
valid and binding obligations of Borrower enforceable against Borrower in accordance with their respective terms, subject only to applicable bankruptcy, insolvency and similar laws affecting rights of creditors generally, and subject, as to
enforceability, to general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law). 
 4.1.3 No Conflicts. The execution, delivery and performance of this Agreement and the other Loan Documents by Borrower will not conflict with or result in a breach of any of the terms or provisions
of, or constitute a default under, or result in the creation or imposition of any Lien, charge or encumbrance (other than pursuant to the Loan Documents) upon any of the property or assets of Borrower pursuant to the terms of any indenture,
mortgage, deed of trust, loan agreement, partnership agreement, management agreement, or other agreement or instrument to which Borrower is a party or by which any of Borrower’s property or assets is subject, nor will such action result in any
violation of the provisions of any statute or any order, rule or regulation of any court or governmental agency or body having jurisdiction over Borrower or the Property or any of Borrower’s other assets, or any license or other approval
required to operate the Property, and any consent, approval, authorization, order, registration or qualification of or with any Governmental Authority required for the execution, delivery and performance by Borrower of this Agreement or any other
Loan Documents have been obtained and is in full force and effect. 
 4.1.4 Litigation. Except as disclosed on Schedule
VI attached hereto, there are no actions, suits or proceedings at law or in equity by or before any Governmental Authority or 

  
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other agency now pending or to Borrower’s knowledge, threatened against or affecting Borrower or the Property, which actions, suits or proceedings, if determined against Borrower or the
Property, are reasonably likely to have a Material Adverse Effect. 
 4.1.5 Agreements. Borrower is not a party to any
agreement or instrument or subject to any restriction which is reasonably likely to have a Material Adverse Effect. To Borrower’s knowledge, Borrower is not in default in any material respect in the performance, observance or fulfillment of any
of the obligations, covenants or conditions contained in any agreement or instrument to which it is a party or by which Borrower or the Property is bound. To Borrower’s knowledge, Borrower has no material financial obligation under any
indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which Borrower is a party or by which Borrower or the Property is otherwise bound, other than (a) obligations incurred in the ordinary course of the
operation of the Property and (b) obligations under the Loan Documents. 
 4.1.6 Solvency. Borrower (a) has not
entered into the transaction or executed the Note, this Agreement or any other Loan Documents with the actual intent to hinder, delay or defraud any creditor and (b) has received reasonably equivalent value in exchange for its obligations under
the Loan Documents. Giving effect to the Loan, the fair saleable value of Borrower’s assets exceeds and will, immediately following the making of the Loan, exceed Borrower’s total liabilities, including, without limitation, subordinated,
unliquidated, disputed and contingent liabilities. The fair saleable value of Borrower’s assets is and will, immediately following the making of the Loan, be greater than Borrower’s probable liabilities, including the maximum amount of its
contingent liabilities on its debts as such debts become absolute and matured. Borrower’s assets do not and, immediately following the making of the Loan will not, constitute unreasonably small capital to carry out its business as conducted or
as proposed to be conducted. Borrower does not intend to incur debt and liabilities (including contingent liabilities and other commitments) beyond its ability to pay such debt and liabilities as they mature (taking into account the timing and
amounts of Cash to be received by Borrower and the amounts to be payable on or in respect of obligations of Borrower). No petition under the Bankruptcy Code or similar state bankruptcy or insolvency law has been filed against Borrower or to
Borrower’s knowledge any constituent Person in the last seven (7) years, and neither Borrower nor to Borrower’s knowledge, any constituent Person in the last seven (7) years has ever made an assignment for the benefit of
creditors or taken advantage of any insolvency act for the benefit of debtors. Neither Borrower nor to its knowledge any of its constituent Persons are contemplating either the filing of a petition by it under the Bankruptcy Code or similar state
bankruptcy or insolvency laws or the liquidation of all or a major portion of Borrower’s assets or property, and Borrower has no knowledge of any Person contemplating the filing of any such petition against it or such constituent Persons.

 4.1.7 Full and Accurate Disclosure. To the best of Borrower’s knowledge, no statement of fact made by Borrower in
this Agreement or in any of the other Loan Documents contains any untrue statement of a material fact or omits to state any material fact necessary to make statements contained herein or therein not misleading. There is no fact presently known to
Borrower which has not been disclosed to Lender which has a Material Adverse Effect, or is reasonably likely to have a Material Adverse Effect. 

  
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 4.1.8 No Plan Assets. As of the date hereof and during the term of the Loan, Borrower
is not and will not be a Plan, and none of the assets of Borrower constitute or will constitute “Plan Assets” of one or more Plans. In addition, (a) Borrower is not a “governmental plan” within the meaning of
Section 3(32) of ERISA and (b) transactions by or with Borrower are not subject to State statutes regulating investment of, and fiduciary obligations with respect to, governmental plans that are similar to the provisions of
Section 406 of ERISA or Section 4975 of the Code, which prohibit or otherwise restrict the transactions contemplated by this Agreement. 
 4.1.9 Compliance. Except as expressly disclosed to Lender in writing, to the best of Borrower’s knowledge, Borrower and the Property and the use thereof, comply in all material respects with
all applicable Legal Requirements, including, without limitation, all Environmental Laws, building and zoning ordinances and codes. Except as previously disclosed to Lender in writing, to Borrower’s knowledge, Borrower is not in default or
violation of any order, writ, injunction, decree or demand of any Governmental Authority. To the best of Borrower’s knowledge, there has not been committed by Borrower or, any other Person in occupancy of or involved with the operation or use
of the Property any act or omission affording the federal government or any other Governmental Authority the right of forfeiture as against the Property or any part thereof or any monies paid in performance of Borrower’s obligations under any
of the Loan Documents. 
 4.1.10 Financial Information. To the best of Borrower’s knowledge, all financial data,
including, without limitation, the statements of cash flow and income and operating expense, that have been delivered to Lender by or on behalf of Borrower in respect of Borrower and the Property (i) are true, complete and correct in all
material respects, (ii) accurately represent the financial condition of Borrower and the Property as of the date of such reports, and (iii) have been prepared in accordance with GAAP (or such other accounting basis reasonably acceptable to
Lender) throughout the periods covered, except as disclosed therein. Except for Permitted Encumbrances, to the best of Borrower’s knowledge, Borrower does not have any contingent liabilities, liabilities for taxes, unusual forward or long term
commitments or unrealized or anticipated losses from any unfavorable commitments that are known to Borrower and are reasonably likely to have a Material Adverse Effect on the Property or the operation thereof as an office building, except as
referred to or reflected in said financial statements. Since the date of such financial statements, there has been no material adverse change in the financial condition, operations or business of Borrower from that set forth in said financial
statements. 
 4.1.11 Condemnation. No Condemnation or other similar proceeding has been commenced or, to the best of
Borrower’s knowledge, is threatened in writing or contemplated with respect to all or any portion of the Property or for the relocation of roadways providing access to the Property. 

4.1.12 Federal Reserve Regulations. No part of the proceeds of the Loan will be used for the purpose of purchasing or acquiring
any “margin stock” within the meaning of Regulation U of the Board of Governors of the Federal Reserve System or for any other purpose which would be inconsistent with such Regulation U or any other Regulations of such Board of Governors,
or for any purposes prohibited by Legal Requirements or by the terms and conditions of this Agreement or the other Loan Documents. 

  
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 4.1.13 Utilities and Public Access. Except as disclosed in the Survey or the Title
Insurance Policy, to Borrower’s knowledge the Property has rights of access to public ways and is served by public water, sewer, sanitary sewer and storm drain facilities adequate to service the Property for its intended use. To Borrower’s
knowledge, except as disclosed in the Survey or in the Title Insurance Policy, all public utilities necessary or convenient to the full use and enjoyment of the Property are located either in the public right of way abutting the Property (which are
connected so as to serve the Property without passing over other property) or in recorded easements serving the Property and such easements are set forth in and insured by the Title Insurance Policy. Except as disclosed in the Survey or in the Title
Insurance Policy, to Borrower’s knowledge, all roads necessary for the use of the Property for its current purpose have been completed, are physically open and are dedicated to public use and have been accepted by all Governmental Authorities.

 4.1.14 Not a Foreign Person. Borrower is not a “foreign person” within the meaning of §1445(f)(3) of
the Code. 
 4.1.15 Separate Lots. The Property is comprised of one (1) or more parcels which constitute a separate
tax lot or lots and does not constitute a portion of any other tax lot not a part of the Property. 
 4.1.16 Assessments.
To the best of Borrower’s knowledge and except as expressly set forth in the Title Insurance Policy, there are no pending or proposed special or other assessments for public improvements or otherwise affecting the Property, nor are there any
contemplated improvements to the Property that may result in such special or other assessments. 
 4.1.17 Enforceability.
The Loan Documents are not subject to any right of rescission, set off, counterclaim or defense by Borrower, including the defense of usury, and Borrower has not asserted any right of rescission, set off, counterclaim or defense with respect
thereto. 
 4.1.18 No Prior Assignment. To the best of Borrower’s knowledge and except as will be released on the
Closing Date, there are no prior assignments of the landlord’s interest in the Leases or landlord’s interest in any portion of the Rents due and payable or to become due and payable which are presently outstanding. 

4.1.19 Insurance. Borrower has obtained and has delivered to Lender certified copies of all insurance policies reflecting the
insurance coverages, amounts and other requirements set forth in this Agreement. To Borrower’s knowledge, no Person, including Borrower, has done, by act or omission, anything which would impair the coverage of any such policy. 

4.1.20 Use of Property. The Property is used primarily as an office building with a parking garage and ancillary retail uses and
other appurtenant and related uses. 
 4.1.21 Certificate of Occupancy; Licenses. To the best of Borrower’s
knowledge, all certifications, permits, licenses and approvals, including without limitation, certificates of completion and occupancy permits required for the legal use, occupancy and operation of the Property by Borrower primarily as an office
building (collectively, the 

  
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“Licenses”), have been obtained and are in full force and effect and are not subject to revocation, suspension or forfeiture. Borrower shall keep and maintain all Licenses
necessary for the operation of the Property primarily as an office building. The use being made of the Property is in conformity with the certificate of occupancy issued for the Property. 

4.1.22 Flood Zone. Except as expressly set forth in the Survey, none of the Improvements on the Property are located in an area as
identified by the Federal Emergency Management Agency as an area having special flood hazards and, if so located, the flood insurance required pursuant to Section 6.1(a)(vii) is in full force and effect. 

4.1.23 Physical Condition. To the best of Borrower’s knowledge and except as otherwise expressly disclosed in that certain
Physical Conditions Report, the other Third Party Reports or otherwise disclosed to Lender in writing, the Property, including, without limitation, all buildings, improvements, parking facilities, sidewalks, storm drainage systems, roofs, plumbing
systems, HVAC systems, fire protection systems, electrical systems, equipment, elevators, exterior sidings and doors, landscaping, irrigation systems and all structural components, are in good condition, order and repair in all material respects; to
Borrower’s knowledge, there exists no structural or other material defects or damages in the Property, whether latent or otherwise, and Borrower has not received written notice from any insurance company or bonding company of any defects or
inadequacies in the Property, or any part thereof, which would adversely affect the insurability of the same or cause the imposition of extraordinary premiums or charges thereon or of any termination or threatened termination of any policy of
insurance or bond. To Borrower’s knowledge, except as disclosed in the Physical Conditions Report or otherwise disclosed to Lender in writing, the Property is free from damage covered by fire or other casualty. To Borrower’s knowledge, all
liquid and solid waste disposal, septic and sewer systems located on the Property are in a good and safe condition and repair and in compliance with all Legal Requirements. 
 4.1.24 Boundaries. Except as shown on the Survey or in the Title Insurance Policy, to Borrower’s knowledge, all of the Improvements which were included in determining the appraised value of
the Property lie wholly within the boundaries and building restriction lines of the Property, and no improvements on adjoining properties encroach upon the Property, and no easements or other encumbrances upon the Property encroach upon any of the
Improvements. 
 4.1.25 Leases. To the best of Borrower’s knowledge, the Property is not subject to any Leases other
than the Leases described in Schedule I attached hereto and made a part hereof. Borrower is the owner and lessor of landlord’s interest in the Leases. To the best of Borrower’s knowledge, no Person has any possessory interest in the
Property or right to occupy the same except under and pursuant to the provisions of the Leases. To the best of Borrower’s knowledge and except as otherwise disclosed to Lender on Schedule I attached hereto or in any tenant estoppel certificate
delivered to Lender, the current Leases are in full force and effect and, there are no material defaults by Borrower or, any tenant under any Lease, and, there are no conditions that, with the passage of time or the giving of notice, or both, would
constitute material defaults under any Lease. To the best of Borrower’s knowledge and except as otherwise disclosed to Lender on Schedule I attached hereto or in any tenant estoppel certificate delivered to Lender, no Rent has been paid more
than one (1) month in advance of its due date. To the best of Borrower’s knowledge and except as otherwise disclosed to Lender on Schedule I 

  
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attached hereto or in any tenant estoppel certificate delivered to Lender, there are no offsets or defenses to the payment of any portion of the Rents. To the best of Borrower’s knowledge
and except as otherwise disclosed to Lender on Schedule I attached hereto or in any tenant estoppel certificate delivered to Lender, all work to be performed by Borrower as of the date of this Agreement under each Lease has been performed as
required and has been accepted by the applicable tenant, and any payments, free rent, partial rent, rebate of rent or other payments, credits, allowances or abatements required to be given by Borrower to any tenant has already been received by such
tenant. To the best of Borrower’s knowledge and except as provided in the Loan Documents or as otherwise disclosed to Lender on Schedule I attached hereto or in any tenant estoppel certificate delivered to Lender, there has been no prior sale,
transfer or assignment, hypothecation or pledge of any Lease or of the Rents received therein which is still in effect. To the best of Borrower’s knowledge and except as otherwise disclosed to Lender on Schedule I attached hereto or in any
tenant estoppel certificate delivered to Lender, no tenant under any Lease has sublet all or any portion of the premises demised thereby, no such tenant holds its leased premises under sublease, nor does anyone except such tenant and its employees
occupy such leased premises. To the best of Borrower’s knowledge and except as otherwise disclosed to Lender on Schedule I attached hereto or in any estoppel certificate delivered to Lender, no tenant under any Lease has a right or option
pursuant to such Lease or otherwise to purchase all or any part of the leased premises or the building of which the leased premises are a part. To the best of Borrower’s knowledge and except as otherwise disclosed to Lender on Schedule I
attached hereto or in any tenant estoppel certificate delivered to Lender or in the Leases, no tenant under any Lease has any right or option for additional space in the Improvements. To the best of Borrower’s knowledge, no Hazardous Materials
have been disposed, stored or treated by any tenant under any Lease on or about the leased premises nor does Borrower have any knowledge of any tenant’s intention to use its leased premises for any activity which, directly or indirectly,
involves the use, generation, treatment, storage, disposal or transportation of any Hazardous Materials, except those that are both (i) in compliance with current Environmental Laws and with permits issued pursuant thereto (if such permits are
required), and (ii) either (A) in amounts not in excess of that necessary to operate, clean, repair and maintain the Property or each tenant’s respective business at the Property as set forth in their respective Leases, (B) held
by a tenant for sale to the public in its ordinary course of business, or (C) fully disclosed to and approved by Lender in writing pursuant to the Environmental Report. 
 (b) Attached hereto as Schedule I is a rent roll of the Property which is true, correct and complete in all material respects. 
 4.1.26 Survey. To the best of Borrower’s knowledge, the Survey delivered to Lender in connection with this Agreement does not fail to reflect any material matter affecting the Property or the
title thereto. 
 4.1.27 Loan to Value. Based on the Appraisal delivered to Lender on the Closing Date, the maximum
principal amount of the Loan does not exceed one hundred twenty-five percent (125%) of the fair market value of the Property. 
 4.1.28 Filing and Recording Taxes. All material transfer taxes, deed stamps, intangible taxes or other amounts in the nature of transfer taxes required to be paid by any Person under applicable
Legal Requirements currently in effect in connection with the transfer of the 

  
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Property to Borrower (in connection with the merger transaction on or about the date hereof) have been paid or will be paid at or prior to the filing or recordation of the Security Instrument or
any other Loan Document. All mortgage, mortgage recording, stamp, intangible or other similar tax required to be paid by any Person under applicable Legal Requirements currently in effect in connection with the execution, delivery, recordation,
filing, registration, perfection or enforcement of any of the Loan Documents, including, without limitation, the Security Instrument, have been paid or will be paid at or prior to the filing or recordation of the Security Instrument or any other
Loan Document. 
 4.1.29 [Intentionally Omitted]. 

4.1.30 Management Agreement. The Management Agreement is in full force and effect and there is no default thereunder by any party
thereto and no event has occurred that, with the passage of time and/or the giving of notice would constitute a default thereunder. 
 4.1.31 Illegal Activity. No portion of the Property has been or will be purchased with proceeds of any illegal activity and to the best of Borrower’s knowledge, there are no illegal activities
or activities relating to any controlled substances at the Property. 
 4.1.32 No Change in Facts or Circumstances;
Disclosure. To the best of Borrower’s knowledge, all information submitted by Borrower to Lender and in all financial statements, rent rolls, reports, certificates and other documents submitted in connection with the Loan (other than the
Environmental Report, the Physical Conditions Report, the Appraisal and other reports prepared by third parties (the “Third Party Reports”)) by or on behalf of Borrower or in satisfaction of the terms thereof and all
statements of fact made by Borrower in this Agreement or in any other Loan Document, are to the best of Borrower’s knowledge accurate, complete and correct in all material respects. To the best of Borrower’s knowledge, there has been no
material adverse change in any condition, fact, circumstance or event that would make any such information inaccurate, incomplete or otherwise misleading in any material respect or that otherwise are reasonably likely to have a Material Adverse
Effect. Borrower acknowledges that it has received and reviewed copies of the Third Party Reports delivered to Lender in connection with the closing of the Loan and has no knowledge of any condition, fact, circumstance or event that would render any
Third Party Report inaccurate, incomplete or otherwise misleading in any material respect. 
 4.1.33 Investment Company
Act. Borrower is not (a) an “investment company” or a company “controlled” by an “investment company,” within the meaning of the Investment Company Act of 1940, as amended; (b) a “holding
company” or a “subsidiary company” of a “holding company” or an “affiliate” of either a “holding company” or a “subsidiary company” within the meaning of the Public Utility Holding Company Act
of 1935, as amended; or (c) subject to any other federal or State law or regulation which purports to restrict or regulate its ability to borrow money. 
 4.1.34 Principal Place of Business; State of Organization. Borrower’s principal place of business as of the date hereof is the address set forth in the introductory paragraph of this
Agreement. Borrower is organized under the laws of the State of Delaware and its organizational identification number is 4324142. 

  
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 4.1.35 Single Purpose Entity. Borrower represents and warrants that (i) Borrower
has, since its formation, not owned any property and has existed solely in preparation for entering into the transaction; and (ii) Borrower has since its formation complied with the provisions of this Section 4.1.35. Borrower represents,
warrants, covenants and agrees that until the Loan has been paid in full (x) it shall, and that its Organizational Documents shall provide that it shall, and (y) the general partner(s) of Borrower, if Borrower is a partnership or the
managing member(s) of Borrower, if Borrower is a limited liability company with multiple economic members (in each case, if any, a “Principal”) has and shall, and that the Organizational Documents of such general partner(s)
or managing member(s) shall provide that it shall: 
 (a) with respect to Borrower, not own any asset or property other than
(i) the Property, and (ii) incidental Personal Property necessary for the ownership and operation of the Property, and with respect to Principal, not acquire or own any material asset other than its interest in Borrower; 

(b) with respect to Borrower, not engage in any business, directly or indirectly, other than the ownership and management of the Property
and with respect to Principal, not engage in any business or activity other than the ownership of its interest in Borrower and activities incidental thereto; 
 (c) notwithstanding anything to the contrary in this Agreement or in any other documents governing the formation, management or operation of the Borrower, for so long as the Obligations are outstanding,
neither the Member nor the Borrower shall amend, alter, change or repeal the “Special Purpose Provisions” as set forth in, and as defined in, Borrower’s Operating Agreement without the consent of Lender, nor amend, modify or otherwise
change the Organizational Documents of Borrower or Principal, as the case may be, without the prior consent of Lender in any manner that (i) violates the single purpose covenants set forth in Section 4.1.35 hereof, or (ii) amends,
modifies or otherwise changes any provision thereof that by its terms cannot be modified at any time when the Loan is outstanding or by its terms cannot be modified without Lender’s consent, or, after the Securitization of the Loan unless
Borrower has received (x) confirmation from each of the applicable Rating Agencies that such action would not result in the disqualification, withdrawal or downgrade of any Securities rating and (y) approval of such actions by Lender or
its assigns; 
 (d) except for capital contributions or capital distributions permitted under the terms and conditions of the
LLC Agreement and properly reflected on the books and records of Borrower, maintain relationships comparable to an arm’s-length transaction with its Affiliates and enter into transactions with its Affiliates only on a commercially reasonable
basis and on terms similar to those of an arm’s-length transaction with an unaffiliated thirty party; 
 (e) with respect
to Borrower, not incur, create or assume any indebtedness, secured (subordinate or pari passu) or unsecured, direct or indirect, absolute or contingent (including guaranteeing any obligation), other than (i) the indebtedness contemplated
by the Loan Documents, (ii) unsecured trade payables and operational debt not evidenced by a note and (iii) indebtedness incurred in the financing of equipment and other personal property used on the Property; provided that any
indebtedness incurred pursuant to subclauses (ii) and (iii) shall be 

  
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(x) not more than sixty (60) days past due, (y) incurred in the ordinary course of the business of operating the Property, and (z) does not exceed, in the aggregate, four percent
(4%) of the outstanding principal balance of the Note, and with respect to Principal, not incur any debt secured or unsecured, direct or contingent (including guaranteeing any obligations); 

(f) not make any loans or advances to any Person nor acquire debt obligations or securities of any Person; 

(g) remain solvent and pay its debts and liabilities (including, as applicable, shared personnel and overhead expenses) from its assets,
to the extent that cash flow from the Property is sufficient for such purpose, provided that this clause (g) shall not be construed to require Borrower’s member to make equity contributions to Borrower; 

(h) pay its own liabilities and expenses only out of its own funds and not the funds of any other Person; 

(i) comply with and observe in all material respects the laws of the state of its formation as they relate to its organizational
functions and responsibilities and other organizational formalities in order to maintain its separate existence; 
 (j) maintain
all of its books, records and bank accounts separate from those of any other Person; 
 (k) prepare separate financial
statements, showing its assets and liabilities separate and apart from those of any other Person, and not have its assets listed on the financial statement of any other Person; provided, however. Borrower’s or Principal’s
assets, as the case may be, may be included in a consolidated financial statement with its Affiliates provided that (i) appropriate notations shall be made on such consolidated financial statement to indicate the separateness of Borrower
or Principal, as the case may be, from such Affiliates and to indicate that none of any such Affiliate’s assets and credit are available to satisfy the debts and other obligations of Borrower or Principal, as the case may be and (ii) such
assets shall also be listed on Borrower’s own separate balance sheet; 
 (l) file its own tax returns, if any, as may be
required under Applicable Law, to the extent not treated as a “disregarded entity”, and pay any taxes so required to be paid under applicable law; 
 (m) maintain its books, records, resolutions and agreements as official records; 

(n) be, and at all times hold itself out to the public and all other Persons as a legal entity separate and distinct from any other
entity (including any Affiliate or any constituent party of Borrower or Principal, as the case may be); 
 (o) conduct its
business in its own name (or trade name) and correct any known misunderstanding regarding its separate identity and not identify itself as a department or division of any other Person; 

(p) not identify itself or any of its Affiliates as a division or part of the other; 

  
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 (q) use separate stationery, invoices and checks bearing its own name; 

(r) maintain adequate capital for the normal obligations reasonably foreseeable in a business of its size and character and in light of
its contemplated business operations, to the extent that cash flow from the Property is sufficient for such purpose, provided that this clause (r) shall not be construed to require Borrower’s member to make equity contributions to
Borrower; 
 (s) not commingle its funds and other assets with assets of any Affiliate or constituent party or any other Person
and hold all of its assets in its own name; 
 (t) maintain its assets in such a manner that it will not be materially costly or
difficult to segregate, ascertain or identify its individual asset or assets, as the case may be, from those of any other Person; 
 (u) except for the pledge of assets to Lender in connection with the Loan, (i) not pledge its assets for the benefit of any other Person, (ii) not guarantee or become obligated for the debts of
any other Person, and (iii) not hold itself out to be responsible for or have its credit or assets available to satisfy the debts or obligations of any other Person; 
 (v) not permit any constituent party independent access to its bank accounts; 

(w) maintain a sufficient number of employees, if any, in light of its contemplated business operations and pay the salaries of such
employees, if any, only from its own funds; 
 (x) not form, acquire or hold an interest in any subsidiary or own any equity
interest in any other entity; 
 (y) allocate fairly and reasonably any overhead expenses that are shared with any Affiliate,
including paying for office space and services that are performed by any employee of any Affiliate on behalf of Borrower or Principal, as the case maybe; 
 (z) to the fullest extent permitted by law, not seek or effect or engage in or cause any constituent party to seek or effect or engage in the liquidation, dissolution, winding up, consolidation or merger,
in whole or in part, or the sale of substantially all of the assets of Borrower or Principal; 
 (aa) with respect to Principal
or, if Borrower is a single member limited liability company that complies with the requirements of Section 4.1.35(hh) below, Borrower, at all times while the Loan is outstanding, have at least two (2) Independent Managers; 

(bb) not fund the operations of any of its Affiliates or pay their expenses; 

(cc) keep careful records of all transactions by and between Borrower or Principal, as the case may be, and its Affiliates and all such
transactions shall be completely and accurately documented and payables shall be accurately and timely recorded; 

  
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 (dd) notwithstanding any other provision of this Agreement or any provision of law that so
empowers Borrower, the Member or any other Person, obtain, from and after the date hereof, the prior unanimous written consent of all other general partners/managing members/directors (including all Independent Managers) to (i) file or consent
to the filing of any bankruptcy, insolvency or reorganization case or proceeding involving Borrower or Principal, as the case may be; institute any proceedings under any applicable insolvency law or otherwise seek any relief for Borrower or
Principal, as the case may be, under any laws relating to the relief from debts or protection of debtors generally; (ii) seek or consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator, custodian or any similar
official for Borrower or Principal, as the case may be, or a substantial portion of its properties; (iii) make any assignment for the benefit of Borrower’s or Principal’s creditors, as the case may be; or (iv) take any action in
furtherance of the foregoing, provided, however, that no such consent shall be granted unless there are at least two (2) Independent Managers then serving in such capacity (it being understood and agreed that, except in connection
with the foregoing actions listed in this clause (dd), the approval/consent of the Independent Manager shall not be required in connection with any other actions taken by Borrower); 

(ee) if Borrower or Principal is a corporation, fail to consider the interests of its creditors in connection with all corporate actions
to the extent permitted by Applicable Law; 
 (ff) violate or cause to be violated the assumptions made with respect to Borrower
and Principal in the Insolvency Opinion; 
 (gg) permit its board of directors or managers to take any action which, under the
terms of any certificate of incorporation, by-laws, voting trust agreement with respect to any common stock or other applicable Organizational Documents, requires the unanimous vote of one hundred percent (100%) of the members of the board
without the vote of both Independent Managers; and 
 (hh) upon the occurrence of any event that causes the Member to cease to
be a member of the Borrower (other than (i) upon an assignment by the Member of all of its limited liability Borrower interest in the Borrower and the admission of the transferee pursuant to the terms of the Loan Documents and the limited
liability company agreement of the Borrower (the “LLC Agreement”), or (ii) the resignation of the Member and the admission of an additional member of the Borrower pursuant to the terms of the Loan Documents and the LLC
Agreement) (a “Member Cessation Event”), each person acting as an Independent Manager pursuant to the terms of the LLC Agreement shall, without any action of any Person and simultaneously with the Member Cessation Event,
automatically be admitted to the Borrower as a “Special Member” of Borrower (“Special Member”) and shall continue Borrower without dissolution. If, however, at the time of a Member Cessation Event, Independent
Manager 1 (as defined in the LLC Agreement) has died or is otherwise no longer able to step into the role of Special Member, then in such event, Independent Manager 2 (as defined in the LLC Agreement) shall, concurrently with the Member Cessation
Event, and without any action of any Person and simultaneously with the Member Cessation Event, automatically be admitted to the Borrower as Special Member and shall continue the Borrower without dissolution. It is the intent of these provisions
that the Borrower never have more than one Special Member at any particular point in time. No Special Member may resign from the Borrower or transfer its rights as Special Member unless a 

  
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successor Special Member has been admitted to the Borrower as Special Member by executing a counterpart to this Agreement. The Special Member shall automatically cease to be a member of the
Borrower upon the admission to the Borrower of a substitute Member. The Special Member shall be a member of the Borrower that has no interest in the profits, losses and capital of the Borrower and has no right to receive any distributions of
Borrower assets. Pursuant to Section 18-301 of the Delaware Limited Liability Company Act (the “Act”), a Special Member shall not be required to make any capital contributions to the Borrower and shall not receive a limited
liability Borrower interest in the Borrower. A Special Member, in its capacity as Special Member, may not bind the Borrower. Except as required by any mandatory provision of the Act, a Special Member, in its capacity as Special Member, shall have no
right to vote on, approve or otherwise consent to any action by, or matter relating to, the Borrower, including, without limitation, the merger, consolidation or conversion of the Borrower. In order to implement the admission to the Borrower of the
Special Member, each of Independent Manager 1 and Independent Manager 2 shall execute a counterpart to this Agreement. Prior to its admission to the Borrower as Special Member, each person acting as Independent Manager shall not be a member of the
Borrower. 
 Notwithstanding anything to the contrary contained in this Section 4.1.35, no provisions contained in this
Section 4.1.35 shall be deemed to create an obligation on the part of Borrower, any member in Borrower, or any member, officer, director, employee or Affiliate of any of the forgoing to make loans, equity infusions or capital contributions to
Borrower. 
 4.1.36 Business Purposes. The Loan is solely for the business purpose of Borrower, and is not for personal,
family, household, or agricultural purposes. 
 4.1.37 Taxes. To the extent required, Borrower has filed all federal,
State, county, municipal, and city income and other material tax returns required to have been filed by it and has paid all material amounts of taxes and related liabilities which have become due pursuant to such returns or pursuant to any
assessments received by it. Borrower knows of no basis for any additional assessment in respect of any such taxes and related liabilities for prior years. 
 4.1.38 Forfeiture. Neither Borrower nor, to the best of Borrower’s knowledge, any other Person in occupancy of or involved with the operation or use of the Property has committed any act or
omission affording the federal government or any State or local government the right of forfeiture as against the Property or any part thereof or any monies paid in performance of Borrower’s obligations under the Note, this Agreement or the
other Loan Documents. Borrower hereby covenants and agrees not to commit, permit or suffer to exist any act or omission affording such right of forfeiture. 
 4.1.39 Environmental Representations and Warranties. Borrower represents and warrants, to the best of its knowledge, except as disclosed in the written report resulting from the environmental site
assessments of the Property delivered to Lender prior to the Closing Date (the “Environmental Report”) that: (a) there are no Hazardous Materials or underground storage tanks in, on, or under the Property, except those
that are both (i) in compliance with current Environmental Laws and with permits issued pursuant thereto (if such permits are required), and (ii) either (A) in amounts not in excess of that necessary to operate, clean, repair and
maintain 

  
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the Property or each tenant’s respective business at the Property as set forth in their respective Leases, or (B) held by a tenant for sale to the public in its ordinary course of
business, (b) there are no past, present or threatened Releases of Hazardous Materials in violation of any Environmental Law and which would require remediation by a Governmental Authority in, on, under or from the Property; (c) there is
no threat of any Release of Hazardous Materials migrating to the Property in violation of any Environmental Law; (d) there is no past or present material non-compliance with current Environmental Laws, or with permits issued pursuant thereto,
which has not been corrected, in connection with the Property; (e) Borrower does not know of, and has not received, any written or oral notice or other communication from any Person (including but not limited to a Governmental Authority)
relating to Hazardous Materials in, on, under or from the Property; and (f) Borrower has truthfully and fully provided to Lender, in writing, any and all information relating to environmental conditions in, on, under or from the Property known
to Borrower or contained in Borrower’s files and records, including but not limited to any reports relating to Hazardous Materials in, on, under or migrating to or from the Property and/or to the environmental condition of the Property.

 4.1.40 Taxpayer Identification Number. Borrower’s United States taxpayer identification number is 20-8720730.

 4.1.41 OFAC. Borrower represents and warrants that neither Borrower, Guarantor, or any of their respective Affiliates
is, to the best of its knowledge and after review of the Annex to the Executive Order and any amendments or additions thereto, a Prohibited Person, and Borrower, Guarantor, and their respective Affiliates are in full compliance with all applicable
orders, rules, regulations and recommendations of The Office of Foreign Assets Control of the U.S. Department of the Treasury. 

4.1.42 Standard Form of Lease. Attached hereto as Schedule IX is the standard form of Lease for the Property approved by Lender.

 4.1.43 Accounts. (a) The Lockbox Agreement and the Cash Management Agreement create valid and continuing security
interests (as defined in the UCC) in the Lockbox Account and the Accounts, respectively, in favor of Lender, which security interests are prior to all other Liens and are enforceable as such against creditors of and purchasers from Borrower;

 (b) Borrower and Lender agree that the Lockbox Account into which funds are deposited is and shall be maintained (i) as
a “deposit account” (as such term is defined in Section 9-102(a)(29) of the UCC), (ii) in such a manner that Lender shall have control (within the meaning of Section 9-104(a)(2) of the UCC) over such Account and
(iii) such that neither Borrower nor Manager shall have any right of withdrawal from the Lockbox Account and no Account Collateral shall be released to Borrower or Manager from the Lockbox Account except in accordance with this Agreement.
Without limiting Borrower’s obligations under the immediately preceding sentence, Borrower shall only establish and maintain the Lockbox Account with a financial institution that has executed an agreement substantially in the form of the
Lockbox Account Agreement, or in such other form reasonably acceptable to Lender. 
 (c) Borrower and Lender agree that each
Account other than the Lockbox Account described in Section 4.1.43(b) above is and shall be maintained (i) as a “securities 

  
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account” (as such term is defined in Section 8-501(a) of the UCC), (ii) in such a manner that Lender shall have control (within the meaning of Section 8-106(d)(2) of the
UCC) over each such Account, (iii) such that neither Borrower nor Manager shall have any right of withdrawal from such Accounts and, except as provided herein, no Account Collateral shall be released to Borrower from such Accounts, (iv) in
such a manner that the Agent Bank shall agree to treat all property credited to each such Account as “financial assets” and (v) such that all securities or other property underlying any financial assets credited to such Accounts shall
be registered in the name of Agent Bank, indorsed to Agent Bank or in blank or credited to another securities account maintained in the name of Agent Bank and in no case will any financial asset credited to any such Accounts be registered in the
name of Borrower, payable to the order of Borrower or specially indorsed to Borrower except to the extent the foregoing have been specially indorsed to Agent Bank or in blank. 
 (d) Borrower owns and has good and marketable title to the Lockbox Account and each other Account free and clear of any Lien or claim of any Person other than Lender and the right of Lockbox Bank and
Agent Bank to be paid ordinary fees and expenses, which may be satisfied by setoff against the Lockbox Account and/or the other Accounts in accordance with each separate agreement with each bank, respectively; 

(e) Other than the security interest granted to Lender pursuant to the Lockbox Agreement and the Cash Management Agreement, Borrower has
not pledged, assigned, or sold, granted a security interest in, or otherwise conveyed the Lockbox Account or any other Account; and 
 (f) None of the Lockbox Account nor any other Accounts is in the name of any Person other than Borrower or Lender. Borrower has not consented to the bank maintaining the Lockbox Account or the other
Accounts to comply with instructions of any Person other than Lender. 
 4.1.44 Embargoed Person. As of the date hereof
and at all times throughout the term of the Loan, including after giving effect to any Transfers permitted pursuant to the Loan Documents, to the best of Borrower’s knowledge and after due inquiry and investigation, (a) none of the funds
or other assets of Borrower, Principal and Guarantor constitute property of, or are beneficially owned, directly or indirectly, by any person, entity or government subject to trade restrictions under U.S. law, including but not limited to, the
International Emergency Economic Powers Act, 50 U.S.C. §§ 1701 et seq., The Trading with the Enemy Act, 50 U.S.C. App. 1 et seq., and any Executive Orders or regulations promulgated thereunder with the result that the investment in
Borrower, Principal or Guarantor, as applicable (whether directly or indirectly), is prohibited by law or the Loan made by Lender is in violation of law (“Embargoed Person”); (b) no Embargoed Person has any interest of
any nature whatsoever in Borrower, Principal or Guarantor, as applicable, with the result that the investment in Borrower, Principal or Guarantor, as applicable (whether directly or indirectly), is prohibited by law or the Loan is in violation of
law; and (c) none of the funds of Borrower, Principal or Guarantor, as applicable, have been derived from any unlawful activity with the result that the investment in Borrower, Principal or Guarantor, as applicable (whether directly or
indirectly), is prohibited by law or the Loan is in violation of law. 

  
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 4.1.45 Pre-Existing Liabilities. Borrower hereby represents with respect to Borrower
that it: 
 (a) is and always has been duly formed, validly existing, and in good standing in the state of its incorporation and
in all other jurisdictions where it is qualified to do business; 
 (b) has no judgments or liens of any nature against it
except for tax liens not yet due; 
 (c) is in compliance with all laws, regulations, and orders applicable to it and, except as
otherwise disclosed in this Agreement, has received all permits necessary for it to operate; 
 (d) is not involved in any
dispute with any taxing authority; 
 (e) has paid all taxes which it owes; 

(f) has never owned any real property other than the Property and personal property necessary or incidental to its ownership or operation
of the Property and has never engaged in any business other than the ownership and operation of the Property; 
 (g) is not now,
nor has ever been, party to any lawsuit, arbitration, summons, or legal proceeding that is still pending or that resulted in a judgment against it that has not been paid in full; 

(h) has provided Lender with complete financial statements that reflect a fair and accurate view of the entity’s financial
condition; 
 (i) has obtained a current Phase I environmental site assessment (ESA) for the Property prepared consistent with
ASTM Practice E 1527 and the ESA has not identified any recognized environmental conditions that require further investigation or remediation; and 
 (j) has no material contingent or actual obligations not related to the Property; 

Section 4.2 Survival of Representations. Borrower agrees that, except, to the extent otherwise provided, all of the
representations and warranties of Borrower set forth in Section 4.1 and elsewhere in this Agreement and in the other Loan Documents shall survive for so long as any amount remains owing to Lender under this Agreement or any of the other Loan
Documents by Borrower. All representations, warranties, covenants and agreements made in this Agreement or in the other Loan Documents shall be deemed to have been relied upon by Lender notwithstanding any investigation heretofore or hereafter made
by Lender or on its behalf. 

  
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 ARTICLE V 
 BORROWER COVENANTS 
 Section 5.1 Affirmative Covenants. From
the Closing Date and until payment and performance in full of all obligations of Borrower under the Loan Documents or the earlier release of the Lien of the Security Instrument encumbering the Property (and all related obligations) in accordance
with the terms of this Agreement and the other Loan Documents, Borrower hereby covenants and agrees with Lender that: 
 5.1.1
Existence; Compliance with Legal Requirements. (a) Borrower shall do or cause to be done all things necessary to preserve, renew and keep in full force and effect its existence, rights, licenses, permits and franchises, and comply, in
all material respects, with all Legal Requirements applicable to it and the Property. There shall never be committed by Borrower, nor shall Borrower permit, through the exercise of commercially reasonable efforts, any other Person in occupancy of or
involved with the operation or use of the Property, any act or omission affording the federal government or any State or local government the right of forfeiture against the Property or any part thereof or any monies paid in performance of
Borrower’s obligations under any of the Loan Documents. Borrower hereby covenants and agrees not to commit, permit or suffer to exist any act or omission affording such right of forfeiture. Borrower shall at all times maintain, preserve and
protect all franchises and trade names and preserve all the remainder of its property used or useful in the conduct of its business and shall keep the Property in good working order and repair, and from time to time make, or cause to be made, all
reasonably necessary repairs, renewals, replacements, betterments and improvements thereto, all as more fully provided in this Agreement. Borrower shall keep the Property insured at all times by financially sound and reputable insurers, to such
extent and against such risks, and maintain liability and such other insurance, as is more fully provided in this Agreement. Borrower shall operate the portions of the Property that are the subject of any O&M Program in accordance with the terms
and provisions thereof in all material respects. 
 (b) After prior written notice to Lender, Borrower, at its own expense, may
contest by appropriate legal proceeding promptly initiated and conducted in good faith and with due diligence, the validity of any Legal Requirement, the applicability of any Legal Requirement to Borrower or the Property or any alleged violation of
any Legal Requirement, provided that: (i) intentionally deleted; (ii) such proceeding shall be permitted under and be conducted in accordance with the provisions of any instrument to which Borrower is subject and shall not
constitute a default thereunder and such proceeding shall be conducted in accordance with all Applicable Laws; (iii) neither the Property nor any part thereof or interest therein will be in danger of being sold, forfeited, terminated, cancelled
or lost; (iv) Borrower shall promptly upon final determination thereof comply with any such Legal Requirement determined to be valid or applicable or cure any violation of any Legal Requirement; (v) such proceeding shall suspend the
enforcement of the contested Legal Requirement against Borrower or the Property; and (vi) Borrower shall furnish such security as may be required in the proceeding, or as may be reasonably requested by Lender, to insure compliance with such
Legal Requirement, together with all interest and penalties payable in connection therewith. Lender may apply any such security or part thereof, as necessary to cause compliance with such Legal Requirement at any time when, in the judgment of
Lender, the validity, applicability or violation of such Legal 

  
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Requirement is finally established or the Property (or any part thereof or interest therein) shall be in danger of being sold, forfeited, terminated, cancelled or lost. 

5.1.2 Taxes and Other Charges. Subject to the terms and provisions of this Section 5.1.2 and to the extent required by
Applicable Law, Borrower shall pay all Taxes and Other Charges now or hereafter levied or assessed or imposed against the Property or any part thereof as the same become due and payable. Borrower shall furnish to Lender receipts, or other evidence
for the payment of the Taxes and the Other Charges prior to the date the same shall become delinquent (provided, however, that Borrower is not required to furnish such receipts for payment of Taxes in the event that such Taxes have
been paid by Lender pursuant to Section 7.2 hereof). Borrower shall not suffer and shall promptly cause to be paid and discharged any Lien or charge whatsoever which may be or become a Lien or charge against the Property, other than the Lien of
the Security Instrument or the Permitted Encumbrances, and shall promptly pay for all utility services provided to the Property. After prior written notice to Lender, Borrower, at its own expense, may contest by appropriate legal proceeding,
promptly initiated and conducted in good faith and with due diligence, the amount or validity or application in whole or in part of any Taxes or Other Charges, provided that (i) intentionally deleted; (ii) such proceeding shall be
permitted under and be conducted in accordance with the provisions of any other instrument to which Borrower is subject and shall not constitute a default thereunder and such proceeding shall be conducted in accordance with all Applicable Laws;
(iii) neither the Property nor any part thereof or interest therein will be in danger of being sold, forfeited, terminated, cancelled or lost; (iv) Borrower shall promptly upon final determination thereof pay the amount of any such Taxes
or Other Charges, together with all costs, interest and penalties which may be payable in connection therewith; (v) such proceeding shall suspend the collection of such contested Taxes or Other Charges from the Property; and (vi) Borrower
shall furnish such security as may be required in the proceeding, or as may be reasonably requested by Lender, to insure the payment of any such Taxes or Other Charges, together with all interest and penalties thereon. Lender may apply such security
or part thereof held by Lender at any time when, in the judgment of Lender, the validity or applicability of such Taxes or Other Charges is established or the Property (or part thereof or interest therein) shall be in danger of being sold,
forfeited, terminated, cancelled or lost or there shall be any danger of the Lien of the Security Instrument being primed by any related Lien. 
 5.1.3 Litigation. Borrower shall give prompt written notice to Lender of any litigation or governmental proceedings pending or threatened against Borrower of which Borrower has received written
notice of and which is reasonably likely to have a Material Adverse Effect. 
 5.1.4 Access to the Property. Borrower
shall permit agents, representatives and employees of Lender to inspect the Property or any part thereof at reasonable hours upon reasonable advance notice, subject to the rights of tenants under their respective Leases. 

5.1.5 Notice of Default. Borrower shall promptly advise Lender of the occurrence of any event that is reasonably likely to have a
Material Adverse Effect, or of the occurrence of any Default or Event of Default of which Borrower has knowledge, or of the occurrence of any default by Borrower under any reciprocal easement agreement affecting the Property of which Borrower has
knowledge. 

  
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 5.1.6 Cooperate in Legal Proceedings. Borrower shall cooperate fully with Lender with
respect to any proceedings before any court, board or other Governmental Authority which may in any way materially and adversely affect the rights of Lender hereunder or any rights obtained by Lender under any of the other Loan Documents and, in
connection therewith, permit Lender, at its election, to participate in any such proceedings. 
 5.1.7 Award and Insurance
Benefits. Borrower shall cooperate with Lender in obtaining for Lender the benefits of any Awards or Insurance Proceeds lawfully or equitably payable in connection with the Property, and Lender shall be reimbursed for any reasonable
out-of-pocket expenses actually incurred in connection therewith (including reasonable attorneys’ fees and disbursements, and the payment by Borrower of the expense of an appraisal on behalf of Lender in case of Casualty or Condemnation
affecting the Property or any part thereof) out of such Award or Insurance Proceeds. 
 5.1.8 Further Assurances.
Borrower shall, at Borrower’s sole but reasonable cost and expense: 
 (a) furnish to Lender all instruments, documents,
boundary surveys, footing or foundation surveys, certificates, plans and specifications, appraisals, title and other insurance reports and agreements, and each and every other document, certificate, agreement and instrument required to be furnished
by Borrower pursuant to the terms of the Loan Documents or reasonably requested by Lender in connection therewith; provided, however, that any such further assurances do not increase Borrower’s liabilities and obligations, or
decrease any of Borrower’s rights, hereunder or under any of the other Loan Documents; 
 (b) execute and deliver to Lender
such documents, instruments, certificates, assignments and other writings, and do such other acts necessary or desirable, to evidence, preserve and/or protect the collateral at any time securing or intended to secure the obligations of Borrower
under the Loan Documents, as Lender may reasonably require including, without limitation, the authorization of Lender to file and/or the filing by Borrower of UCC financing statements, provided, however, that any such further
assurances do not increase Borrower’s liabilities and obligations, or decrease any of Borrower’s rights, hereunder or under any of the other Loan Documents. Without limitation to the foregoing, Borrower hereby authorizes Lender to execute
or file in the name of Borrower or without the signature of Borrower to the extent Lender may lawfully do so, and to file in the appropriate filing or recording offices, one or more financing statements or other instruments, to evidence more
effectively the security interest of Lender in the Property. Borrower grants to Lender an irrevocable power of attorney coupled with an interest for the purpose of exercising and perfecting any and all rights and remedies available to Lender
pursuant to this Section 5.1.8(b); and 
 (c) do and execute all and such further lawful and reasonable acts, conveyances
and assurances for the better and more effective carrying out of the intents and purposes of this Agreement and the other Loan Documents, as Lender shall reasonably require from time to time, provided, however, that any such further
assurances do not increase Borrower’s liabilities and obligations, or decrease any of Borrower’s rights, hereunder or under any of the other Loan Documents. 

  
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 5.1.9 Mortgage and Intangible Taxes. Borrower shall pay all State, county and
municipal recording, mortgage, intangible, and all other taxes imposed upon the execution, recordation or filing of the Security Instrument and/or upon the execution and delivery of the Note. 

5.1.10 Financial Reporting. (a) Borrower will keep and maintain or will cause to be kept and maintained on a Fiscal Year
basis, in accordance with GAAP (or such other accounting basis reasonably acceptable to Lender), proper and accurate books, records and accounts reflecting all of the financial affairs of Borrower and all items of income and expense in connection
with the operation on an individual basis of the Property. Lender shall have the right from time to time at all times during normal business hours upon reasonable notice to Borrower to examine such books, records and accounts at the office of
Borrower or any other Person maintaining such books, records and accounts and to make such copies or extracts thereof as Lender shall desire. Following the occurrence and during the continuance of an Event of Default, Borrower shall pay any
reasonable out of pocket costs and expenses actually incurred by Lender to examine Borrower’s accounting records with respect to the Property, as Lender shall determine to be necessary or appropriate in the protection of Lender’s interest.

 (b) Borrower will furnish to Lender quarterly and annually, within sixty (60) days following the end of each of the
first, second and third fiscal quarters and one hundred twenty (120) days following the end of each Fiscal Year (as applicable), a complete copy of Borrower’s quarterly or annual (as applicable) financial statements audited (only with
respect to such annual financial statements) by an Approved Accountant in accordance with GAAP (or such other accounting basis reasonably acceptable to Lender) covering the Property for such quarter or Fiscal Year (as applicable) and containing
statements of profit and loss for Borrower and the Property and a balance sheet for Borrower. Such statements shall set forth the financial condition and the results of operations for the Property for such quarter or Fiscal Year (as applicable), and
shall include, but not be limited to, amounts representing annual Net Cash Flow, Net Operating Income, Gross Income from Operations and Operating Expenses. Borrower’s annual financial statements shall be accompanied by (i) a comparison of
the budgeted income and expenses and the actual income and expenses for the prior Fiscal Year, (ii) an Officer’s Certificate in the form attached hereto as Schedule V-A stating that to the best of Borrower’s or Principal’s
knowledge (x) each such annual financial statement presents fairly the financial condition and the results of operations of Borrower and the Property being reported upon and has been prepared in accordance with GAAP (or such other accounting
basis as is reasonably acceptable to Lender), and (y) as of the date thereof whether there exists an Event of Default under the Loan Documents executed and delivered by, or applicable to, Borrower, and if such Event of Default exists, the
nature thereof, the period of time it has existed and the action then being taken to remedy the same, (iii) with respect to annual financial statements, an unqualified opinion of an Approved Accountant, (iv) a current rent roll for the
Property, (v) a breakdown showing the year in which each Lease then in effect expires and the percentage of total floor area of the Improvements and the percentage of base rent with respect to which Leases shall expire in each such year, each
such percentage to be expressed on both a per year and cumulative basis, (vi) a schedule audited by such Approved Accountant reconciling Net Operating Income to Net Cash Flow (the “Net Cash Flow Schedule”), which shall
itemize all adjustments made to Net Operating Income to arrive at Net Cash Flow deemed material by such Approved Accountant, and (vii) any written notice received from a tenant under a Major Lease alleging a default by

  
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landlord. Together with Borrower’s quarterly financial statements, Borrower shall furnish to Lender an Officer’s Certificate certifying, to Borrower’s knowledge, as of the date
thereof whether there exists an Event of Default under the Loan Documents executed and delivered by, or applicable to, Borrower, and if such Event of Default exists, the nature thereof, the period of time it has existed and the action then being
taken to remedy the same. 
 (c) Borrower will furnish, or cause to be furnished, to Lender on or before forty-five
(45) days after the end of each calendar month the following items, accompanied by an Officer’s Certificate in the form attached hereto as Schedule V-B stating that such items are true, correct, accurate, and complete and fairly present
the financial condition and results of the operations of Borrower and the Property (subject to normal year-end adjustments): (i) a rent roll for the subject month; and (ii) a Net Cash Flow Schedule. 

(d) Intentionally Omitted. 
 (e) For each calendar year during the term of the Loan, Borrower shall submit to Lender an Annual Budget not later than ten (10) Business Days prior to the commencement of such calendar year for
informational purposes only. 
 (f) Any reports, statements or other information required to be delivered under this Agreement
shall be delivered in any one (but not all) of the following formats: (i) in paper form, (ii) on a diskette, or (iii) if requested by Lender and within the capabilities of Borrower’s data systems without change or modification
thereto, in electronic form and prepared using a Microsoft Word for Windows or WordPerfect for Windows files (which files may be prepared using a spreadsheet program and saved as word processing files). 

(g) Borrower agrees that Lender may forward to each purchaser, transferee, assignee, servicer, participant or investor in all or any
portion of the Loan or any Securities (collectively, the “Investor”) or any Rating Agency rating such participations and/or Securities and each prospective Investor, and any organization maintaining databases on the
underwriting and performance of commercial mortgage loans, 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 irrevocably waives any and all rights it may have under any Applicable Laws to prohibit such disclosure, including but not limited to any right of privacy. 

(h) If requested by Lender, Borrower shall provide Lender, promptly upon request or within the time periods set forth in this subsection
(h), with the following financial statements if, at the time a Disclosure Document is being prepared for a Securitization, it is expected that the principal amount of the Loan together with any Affiliated Loans at the time of Securitization may, or
if the principal amount of the Loan together with any Affiliated Loans at any time during which the Loan and any Affiliated Loans are included in a Securitization does, equal or exceed 20% of the aggregate principal amount of all mortgage loans
included or expected to be included, as applicable, in the Securitization: 
 (i) A balance sheet with respect to
the Property for the two most recent Fiscal Years, meeting the requirements of Section 210.3 01 of Regulation S-X of the Securities 

  
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Act and statements of income and statements of cash flows with respect to the Property for the three most recent Fiscal Years, meeting the requirements of Section 210.3 02 of Regulation S-X,
and, to the extent that such balance sheet is more than 135 days old as of the date of the document in which such financial statements are included, interim financial statements of the Property meeting the requirements of Section 210.3 01 and
210.3 02 of Regulation S-X (all of such financial statements, collectively, the “Standard Statements”); provided, however, that with respect to a Property (other than properties that are hotels, nursing homes,
or other properties that would be deemed to constitute a business and not real estate under Regulation S-X or other legal requirements) that has been acquired by Borrower from an unaffiliated third party (such Property, “Acquired
Property”), as to which the other conditions set forth in Section 210.3 14 of Regulation S-X for provision of financial statements in accordance with such Section have been met, in lieu of the Standard Statements otherwise required
by this section, Borrower shall instead provide the financial statements required by such Section 210.3 14 of Regulation S-X (“Acquired Property Statements”). 

(ii) Not later than 30 days after the end of each fiscal quarter following the date hereof, a balance sheet of the
Property as of the end of such fiscal quarter, meeting the requirements of Section 210.3 01 of Regulation S-X, and statements of income and statements of cash flows of the Property for the period commencing following the last day of the most
recent Fiscal Year and ending on the date of such balance sheet and for the corresponding period of the most recent Fiscal Year, meeting the requirements of Section 210.3 02 of Regulation S-X (provided, that if for such corresponding
period of the most recent Fiscal Year Acquired Property Statements were permitted to be provided hereunder pursuant to subsection (i) above, Borrower shall instead provide Acquired Property Statements for such corresponding period). 

(iii) Not later than 75 days after the end of each Fiscal Year following the date hereof, a balance sheet of the Property
as of the end of such Fiscal Year, meeting the requirements of Section 210.3 01 of Regulation S-X, and statements of income and statements of cash flows of the Property for such Fiscal Year, meeting the requirements of Section 210.3 02 of
Regulation S-X. 
 (iv) Within ten business days after notice from Lender in connection with the Securitization
of this Loan, such additional financial statements, such that, as of the date (each an “Offering Document Date”) of each Disclosure Document, Borrower shall have provided Lender with all financial statements as described in
subsection (g)(i) above; provided that the Fiscal Year and interim periods for which such financial statements shall be provided shall be determined as of such Offering Document Date. 

(i) If requested by Lender, Borrower shall provide Lender, promptly upon request (but in no event later than the time periods set forth
in Section 5.1.10(g) hereof), with summaries of the financial statements referred to in Section 5.1.10(g) hereof if, at the time a Disclosure Document is being prepared for a Securitization, it is expected that the principal amount of the
Loan and any Affiliated Loans at the time of Securitization may, or if the principal amount of the Loan and any Affiliated Loans at any time during which the Loan and any Affiliated Loans are included in a Securitization does, equal or exceed 10%
(but is less than 

  
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20%) of the aggregate principal amount of all mortgage loans included or expected to be included, as applicable, in a Securitization. Such summaries shall meet the requirements for
“summarized financial information,” as defined in Section 210.1 02(bb) of Regulation S-X, or such other requirements as may be determined to be necessary or appropriate by Lender. 

(j) All financial statements provided by Borrower hereunder pursuant to Sections 5.1.10(g) and (h) hereof shall be prepared in
accordance with GAAP, and shall meet the requirements of Regulation S-K, Regulation S-X, as applicable, Regulation AB and other applicable legal requirements. All financial statements referred to in Subsections 5.1.10(g)(i) and 5.1.10(g)(iii) above
shall be audited by an Approved Accountant in accordance with Regulation S-K, Regulation S-X, as applicable, Regulation AB and all other applicable legal requirements, shall be accompanied by the manually executed report of the Approved Accountant
thereon, which report shall meet the requirements of Regulation S-K, Regulation S-X, as applicable, Regulation AB and all other applicable legal requirements, and shall be further accompanied by a manually executed written consent of the Approved
Accountant, in form and substance acceptable to Lender, to the inclusion of such financial statements in any Disclosure Document and any Exchange Act Filing and to the use of the name of such Approved Accountant and the reference to such Approved
Accountant as “experts” in any Disclosure Document and Exchange Act Filing, all of which shall be provided at the same time as the related financial statements are required to be provided. All financial statements (audited or unaudited)
provided by Borrower under this Section 5.1.10 shall be certified by the chief financial officer or administrative member of Borrower, which certification shall state that such financial statements meet the requirements set forth in the first
sentence of this Section 5.1.10(i). 
 (k) If requested by Lender, Borrower shall provide Lender, promptly upon request,
with any other or additional financial statements, or financial, statistical or operating information, as Lender shall determine to be required pursuant to Regulation S-K, Regulation S-X, as applicable, Regulation AB or any amendment, modification
or replacement thereto or other legal requirements in connection with any Disclosure Document or any Exchange Act filing in connection with or relating to a Securitization or as shall otherwise be reasonably requested by Lender. 

(1) In the event Lender determines, in connection with a Securitization, that the financial statements required in order to comply with
Regulation S-K, Regulation S-X, as applicable, Regulation AB or other legal requirements are other than as provided herein, then notwithstanding the provisions of Section 5.1.10(g), (h) and (i) hereof, Lender may request, and Borrower
shall promptly provide, such combination of Acquired Property Statement and/or Standard Statements or such other financial statements as Lender determines to be necessary or appropriate for such compliance. 

(m) The term “Affiliated Loans” shall mean a loan made by Lender to a parent, subsidiary or such other entity
affiliated with Borrower or any Guarantor. 
 (n) If requested by Lender and to the extent not otherwise included in information
provided to Lender pursuant to the other subsections of this Section 5.1.10, Borrower shall provide Lender, promptly upon request, a list of tenants (including all affiliates of such tenants) that in the aggregate (i) occupy 10% or more
(but less than 20%) of the total floor 

  
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area of the improvements or represent 10% or more (but less than 20%) of the aggregate base rent, and (ii) occupy 20% or more of the total floor area of the improvements or represent 20% or
more of the aggregate base rent. 
 5.1.11 Business and Operations. Borrower will continue to engage in the businesses
presently conducted by it as and to the extent the same are necessary for the ownership, maintenance, management and operation of the Property. Borrower will remain in good standing under the laws of each jurisdiction to the extent required for the
ownership, maintenance, management and operation of the Property. 
 5.1.12 Costs of Enforcement. In the event
(a) that the Security Instrument encumbering the Property is foreclosed in whole or in part or that the Security Instrument is put into the hands of an attorney for collection, suit, action or foreclosure, (b) of the foreclosure of any
mortgage prior to or subsequent to the Security Instrument encumbering the Property in which proceeding Lender is made a party, or (c) of the bankruptcy, insolvency, rehabilitation or other similar proceeding in respect of Borrower or any of
its constituent Persons or an assignment by Borrower or any of its constituent Persons for the benefit of its creditors, Borrower, its successors or assigns, shall be chargeable with and agrees to pay all costs of collection and defense, including
reasonable attorneys’ fees and costs, incurred by Lender or Borrower in connection therewith and in connection with any appellate proceeding or post judgment action involved therein, together with all required service or use taxes. 

5.1.13 Estoppel Statement. (a) After written request by Lender, Borrower shall within ten (10) Business Days furnish
Lender with a statement, duly acknowledged and certified, setting forth to Borrower’s knowledge (i) the amount of the original principal amount of the Note, (ii) the unpaid principal amount of the Note, (iii) the Applicable Interest
Rate of the Note, (iv) the date installments of interest and/or principal were last paid, (v) any offsets or defenses to the payment of the Debt, and (vi) that the Note, this Agreement, the Security Instrument and the other Loan
Documents are valid, legal and binding obligations (subject to bankruptcy, insolvency, moratorium and other similar laws affecting the rights of creditors generally and subject to limitations on the availability of equitable remedies) and have not
been modified or if modified, giving particulars of such modification. 
 (b) Borrower shall use commercially reasonable efforts
to deliver to Lender, promptly following Lender’s written request, tenant estoppel certificates from the applicable commercial tenant leasing space at the Property in the same form previously accepted by Lender or in form and substance
reasonably satisfactory to Lender (but in each case, subject to the requirements set forth in the applicable Leases), provided that after the Closing Date and provided an Event of Default does not exist, Lender shall have the right to request
such estoppels from a particular tenant not more than once in any calendar year (or twice if a Securitization occurs during such calendar year). 
 5.1.14 Loan Proceeds. Borrower shall use the proceeds of the Loan received by it on the Closing Date only for the purposes set forth in Section 2.1.4. 

5.1.15 Performance by Borrower. Borrower shall in a timely manner observe, perform and fulfill each and every covenant, term and
provision of each Loan Document 

  
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 executed and delivered by, or applicable to, Borrower, and shall not enter into or otherwise suffer or
permit any amendment, waiver, supplement, termination or other modification of any Loan Document executed and delivered by, or applicable to, Borrower without the prior written consent of Lender. 

5.1.16 Confirmation of Representations. Borrower shall deliver, in connection with any Securitization, (a) one or more
Officer’s Certificates certifying as to the accuracy of all representations made by Borrower in the Loan Documents as of the date of the closing of such Securitization in all relevant jurisdictions, and (b) certificates of the relevant
Governmental Authorities in all relevant jurisdictions indicating the good standing and qualification of Borrower and Principal as of the date of the closing of such Securitization. 

5.1.17 Leasing Matters. (a) With respect to the Property, Borrower may enter into a proposed Lease (including the renewal or
extension of an existing Lease (a “Renewal Lease”)) without the prior written consent of Lender, provided such proposed Lease or Renewal Lease (i) provides for rental rates and terms comparable to existing local market
rates and terms (taking into account the type and quality of the tenant) as of the date such Lease is executed by Borrower (unless, in the case of a Renewal Lease, the rent payable during such renewal, or a formula or other method to compute such
rent, is provided for in the original Lease), (ii) is an arms-length transaction with a bona fide, independent third party tenant, (iii) does not, in Borrower’s commercially reasonable judgment, have a Material Adverse Effect,
(iv) is subject and subordinate to the Security Instrument and the lessee thereunder agrees to attorn to Lender, (v) is written on the standard form of lease approved by Lender (other than a Renewal Lease, which shall be in the form of the
existing lease being renewed or extended and may include commercially reasonable modifications that do not alter in any material adverse respect the provisions relating to subordination and attornment or other form reasonably acceptable to Lender,
or, with respect to any proposed Lease, factual information with respect to the tenant and other commercially reasonable modifications as reasonably determined by Borrower, provided that in no event shall such modifications alter in any
material adverse respect the standard lease provisions relating to subordination and attornment), and (vi) is not a Major Lease. All proposed Leases which do not satisfy the requirements set forth in this Section 5.1.17(a) shall be subject
to the prior approval of Lender, which approval shall not be unreasonably withheld, conditioned or delayed; provided, however, that any “month-to-month” license or similar agreement that is terminable on written notice of
thirty (30) days or less shall not be considered a Lease for purposes of this Section 5.1.17 and shall not be subject to the prior approval of Lender so long as such license or similar agreement does not constitute a Major Lease. At
Lender’s request, Borrower shall promptly deliver to Lender copies of all Leases which are entered into pursuant to this Subsection together with Borrower’s certification that it has satisfied all of the conditions of this
Section 5.1.17. 
 (b) Borrower (i) shall observe and perform all the material obligations imposed upon the lessor
under the Leases and shall not do or permit to be done anything to impair the value of any of the Leases as security for the Debt; (ii) shall promptly send copies to Lender of all notices of default or other material matters which Borrower
shall send or receive with respect to the Leases; (iii) shall enforce all of the material terms, covenants and conditions contained in the Leases upon the part of the tenant thereunder to be observed or performed (except for termination of a
Major Lease which shall require Lender’s prior written approval, 

  
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which approval shall not be unreasonably withheld, conditioned or delayed); (iv) shall not collect any of the Rents more than one (1) month in advance (except Security Deposits shall
not be deemed Rents collected in advance); (v) shall, immediately upon receipt, deposit all Lease Termination Payments into the Rollover/Replacement Reserve Account; (vi) shall not execute any other assignment of the lessor’s interest
in any of the Leases or the Rents; and (vii) shall not (except as permitted in clause (c) below) consent to any assignment of any Leases or any subletting of the lesser of (x) the entire premises covered by a Major Lease or
(y) one (1) full floor, without the prior written consent of Lender (which consent shall not be unreasonably withheld, conditioned or delayed). 
 (c) Borrower may, without the consent of Lender, amend, modify or waive the provisions of any Lease or terminate, reduce rents under, accept a surrender of space under, or shorten the term of, any Lease
(including any guaranty, letter of credit or other credit support with respect thereto) or consent to any assignment or subletting thereof, provided that such Lease is not a Major Lease (or, with respect to the subletting of the premises
covered by a Major Lease, such subletting is not of the entire premises covered by such Major Lease) and that such action (taking into account, in the case of a termination, reduction in rent, surrender of space or shortening of term, the planned
alternative use of the affected space) does not in Borrower’s commercially reasonable judgment have a Material Adverse Effect, and provided that such Lease, as amended, modified or waived, or assigned or sublet, is otherwise in
compliance with the requirements of this Agreement and any lease subordination agreement binding upon Lender with respect to such Lease. A termination of a Lease (other than a Major Lease) with a tenant who is in default beyond applicable notice and
grace periods shall not be considered an action which has a Material Adverse Effect. Any amendment, modification, waiver, termination, rent reduction, space surrender or term shortening or assignment or subletting which does not satisfy the
requirements set forth in this Subsection shall be subject to the prior written approval of Lender and its counsel, at Borrower’s reasonable expense, which approval shall not be unreasonably withheld, conditioned or delayed. At Lender’s
request, Borrower shall promptly deliver to Lender copies of all Leases, amendments, modifications and waivers which are entered into pursuant to this Section 5.1.17(c). 
 (d) Notwithstanding anything contained herein to the contrary, with respect to the Property, Borrower shall not, without the prior written consent of Lender, which consent shall not be unreasonably
withheld, conditioned or delayed, enter into, renew, extend, amend, modify, waive any provisions of, terminate, reduce rents under, accept a surrender of space under, or shorten the term of, any Major Lease or any instrument guaranteeing or
providing credit support for any Major Lease, provided that no consent shall be required in connection with the exercise of a renewal or extension option of a Major Lease which is in all material respects on the same terms on which the tenant
thereunder has the right to renew such Major Lease. 
 (e) Borrower shall hold any and all monies representing security deposits
under the Leases, including any letters of credit delivered as security for a tenant’s obligation under a Lease (collectively, the “Security Deposits”), in accordance with Applicable Law and the terms of the respective
Lease, and shall only release the Security Deposits in order to return a tenant’s Security Deposit to such tenant if such tenant is entitled to the return of the Security Deposit under the terms of the Lease. All right, title and interest of
Borrower in and to all Security Deposits are hereby assigned to Lender as security for the Debt, subject to the rights of 

  
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the tenants under the related Leases. The following shall apply with respect to any Security Deposit equal to or greater than $300,000 for any Lease entered into by Borrower after the Closing
Date: 
 (i) Subject to any applicable restrictions contained in Leases in effect as of the date hereof, all cash
Security Deposits shall be deposited into the Deposit Account or another Eligible Account that is under the sole control of Lender. Within five (5) Business Days of Borrower’s written direction to Lender, Lender shall (1) deliver such
Security Deposit to Borrower for repayment to the related tenant (to the extent the tenant is entitled to a refund of the Security Deposit under the terms of its Lease), or (2) so long as no Event of Default shall exist, deposit such Security
Deposit into the Rollover/Replacement Reserve Account. Each such direction from Borrower, in order to be effective, shall be accompanied by an Officer’s Certificate in the form attached hereto as Schedule XV certifying that the requested action
is required (in the case of a refund) or authorized (in the case of a transfer to the Rollover/Replacement Reserve Fund); 
 (ii) In the case of a Security Deposit that is delivered in the form of a letter of credit in an amount equal to or greater than $300,000, the following provisions shall apply: Borrower shall, at its sole
cost and expense, enforce the tenant’s obligations under the related Lease to cause the beneficiary of each such letter of credit (including any renewal, amendment, supplement or replacement thereof) to be Lender or Servicer (as designated by
Lender) and shall deliver all original letters of credit to Lender within three (3) Business Days of Borrower’s receipt thereof. Within five (5) Business Days of Borrower’s written direction to Lender to draw upon any such letter
of credit, Lender shall draw upon such letter of credit in accordance with the terms thereof. Each such written direction from Borrower, in order to be effective, shall be accompanied by an Officer’s Certificate in the form attached hereto as
Schedule XVI certifying that the letter of credit may be drawn upon pursuant to the terms of the related Lease. If Borrower is entitled under the terms of the related Lease to retain the proceeds of such draw, Lender shall deposit the proceeds
derived from such draw into the Rollover/Replacement Reserve Account. Notwithstanding anything contained herein to the contrary, if Lender shall in good faith determine that the conditions for drawing upon any such letter of credit may not have been
satisfied, Lender may decline to draw upon any such letter of credit, provided that, if Lender shall make such determination and no Event of Default or Default shall exist, Borrower may, at its expense, require Lender to re-assign the
beneficiary’s interest in such letter of credit to Borrower, in which case the following apply: (1) if Borrower shall draw upon such letter of credit within thirty (30) days of such re-assignment, Borrower shall deposit the proceeds
thereof into the Deposit Account, and such proceeds shall remain on deposit in the Deposit Account until such time as Lender is reasonably satisfied that the related draw was permitted (at which time such proceeds shall be applied in accordance with
the preceding sentence) and (2) if Borrower shall not draw upon such letter of credit within thirty (30) days of such re-assignment, Borrower shall, at its expense, immediately cause Lender to become the beneficiary under such letter of
credit. Subject to the rights of Tenants under Leases, Lender may take such actions as it determines to be reasonably necessary to preserve any such letter of credit or the proceeds thereof for the benefit of Borrower or Lender,

  
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including making any draws thereon in the event of any prospective non-renewal thereof or if any draws are otherwise permitted under such letter of credit or the related Lease. 

(f) Lender shall, within ten (10) Business Days following written notice from Borrower execute and deliver non-disturbance
agreements, in the form attached hereto as Schedule XVII (subject to commercially reasonable negotiations), with (i) the tenant under any Major Lease that is approved by Lender in accordance with this Section 5.1.17, (ii) any
nationally recognized tenant under any other Lease entered into in accordance with this Section 5.1.17 and approved by Lender in accordance with this Section 5.1.17 or (iii) any other tenants to the extent approved by Lender, which
approval shall not be unreasonably withheld or delayed, under any other Lease entered into in accordance with this Section 5.1.17 and approved by Lender in accordance with this Section 5.1.17. 

(g) Intentionally deleted. 
 (h) Notwithstanding the provisions above, to the extent, if any, that Lender’s prior written approval is required pursuant to this Section 5.1.17, such request for approval shall be deemed
approved if Lender shall have failed to notify Borrower of its approval or disapproval within ten (10) Business Days following Lender’s receipt of Borrower’s written request together with (if applicable) a copy of the proposed Lease,
Renewal Lease, modification or other instrument requiring approval (and, if a Lease or a restatement of an existing Lease, a blacklined copy thereof showing changes to Borrower’s standard form) and any information or documentation which Lender
may request in accordance with the next sentence (such ten (10) Business Day period, the “Leasing Approval Period”). Upon Lender’s request, Borrower shall be required to provide Lender with such material information
and documentation as may be reasonably required by Lender, in its reasonable discretion, including without limitation, lease comparables and other market information as reasonably required by Lender to reach a decision. In order to be effective for
the purposes of triggering the time periods set forth above for Lender to respond, all requests by Borrower for approval pursuant to this Section 5.1.17(h) must contain the following in bold, capital letters in the request and on the envelope
or wrapper enclosing such request: “THIS IS A REQUEST FOR APPROVAL PURSUANT TO SECTION 5.1.17(h) OF THE LOAN AGREEMENT BETWEEN LENDER AND BORROWER. FAILURE BY LENDER TO RESPOND WITHIN TIME PERIODS REFERENCED IN SAID SECTION 5.1.17(h) MAY
RESULT IN APPROVAL OF THE MATTERS REFERRED TO HEREIN.” 
 5.1.18 Management Agreement. (a) The Improvements
on the Property are operated under the terms and conditions of the Management Agreement. In no event shall the management fees under the Management Agreement exceed four percent (4%) of the Gross Income from Operations derived from the
Property. Borrower shall (i) diligently perform and observe all of the material terms, covenants and conditions of the Management Agreement, on the part of Borrower to be performed and observed to the end that all things shall be done which are
necessary to keep unimpaired the rights of Borrower under the Management Agreement and (ii) promptly notify Lender of the giving of any notice by Manager to Borrower of any default by Borrower in the performance or observance of any of the
terms, covenants or conditions of the Management Agreement on the part of Borrower to be performed and observed and deliver to Lender a true copy of each such notice. Borrower shall not surrender the Management

  
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Agreement, consent to the assignment by Manager of its interest under the Management Agreement, or terminate or cancel the Management Agreement, or modify, change, supplement, alter or amend the
Management Agreement, in any material respect, either orally or in writing; provided, however, that Borrower shall have the right to terminate the Management Agreement without Lender’s prior written consent upon satisfaction of
the following conditions: (i) Borrower delivers to Lender written notice of its intention to terminate the Management Agreement at least five (5) days prior to such termination; (ii) Borrower replaces Manager within thirty
(30) days of the termination of the Management Agreement with a Qualified Manager pursuant to a Management Agreement; (iii) such Qualified Manager delivers to Lender an Assignment of Management Agreement substantially in the form of the
Assignment of Management Agreement delivered to Lender by Manager on the date hereof; and (iv) if such replacement manager is an affiliate of Borrower, delivers to Lender an updated Insolvency Opinion acceptable to Lender. Borrower hereby
assigns to Lender as further security for the payment of the Debt and for the performance and observance of the terms, covenants and conditions of this Agreement, all the rights, privileges and prerogatives of Borrower to surrender the Management
Agreement, or to terminate, cancel, modify, change, supplement, alter or amend the Management Agreement, in any respect, and any such surrender of the Management Agreement, or termination, cancellation, material modification, change, supplement,
alteration or amendment of the Management Agreement, without the prior consent of Lender shall be void and of no force and effect. If Borrower shall default in the performance or observance of any material term, covenant or condition of the
Management Agreement on the part of Borrower to be performed or observed beyond applicable notice and cure periods provided therein, then, without limiting the generality of the other provisions of this Agreement, and without waiving or releasing
Borrower from any of its obligations hereunder, Lender shall have the right, but shall be under no obligation, to pay any sums and to perform any act or take any action as may be appropriate to cause all the terms, covenants and conditions of the
Management Agreement on the part of Borrower to be performed or observed to be promptly performed or observed on behalf of Borrower, to the end that the rights of Borrower in, to and under the Management Agreement shall be kept unimpaired and free
from default. Lender and any Person designated by Lender shall have, and are hereby granted, the right to enter upon the Property at any time and from time to time upon reasonable prior written notice to Borrower and at reasonable hours for the
purpose of taking any such action; provided, however, that Lender shall not take such action unless an Event of Default has occurred and is continuing. If Manager shall deliver to Lender a copy of any notice sent to Borrower of default
under the Management Agreement beyond applicable notice and cure periods provided therein, such notice shall constitute full protection to Lender for any action taken or omitted to be taken by Lender in good faith, in reliance thereon;
provided, however, that if the Manager is not then an Affiliated Manager and Lender shall within five (5) days of its receipt of Manager’s notice receive from Borrower a written notice disputing Manager’s notice and
stating the basis of such dispute and that it will attempt to resolve its dispute with Manager, then Lender shall refrain from taking any action described in the immediately preceding sentence until the earlier of to occur of (x) the date that
is thirty (30) days after Lender’s receipt of Manager’s notice of such default, and (y) the date that is five (5) Business Days prior to the date on which Manager could, under the Management Agreement, terminate the
Management Agreement, assuming that the facts stated in Manager’s notice were true. Borrower shall not, and shall not permit Manager to, sub-contract any or all of its management responsibilities under the Management Agreement to a third party
without the prior 

  
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written consent of Lender, which will not be unreasonably withheld. Borrower shall, from time to time (but not more frequently than once annually), use commercially reasonable efforts to obtain
from Manager such certificates of estoppel with respect to compliance by Borrower with the terms of the Management Agreement as may be requested by Lender. Borrower shall exercise each individual option, if any, to extend or renew the term of the
Management Agreement upon demand by Lender made at any time within one (1) year of the last day upon which any such option may be exercised, and Borrower hereby expressly authorizes and appoints Lender its attorney-in-fact to exercise any such
option in the name of and upon behalf of Borrower, which power of attorney shall be irrevocable and shall be deemed to be coupled with an interest. Such power of attorney shall not be exercisable by Lender unless an Event of Default has occurred and
is continuing. Any sums expended by Lender pursuant to this paragraph (i) shall bear interest at the Default Rate from the date such cost is incurred to the date of payment to Lender, (ii) shall be deemed to constitute a portion of the
Debt, (iii) shall be secured by the lien of the Security Instrument and the other Loan Documents and (iv) shall be immediately due and payable upon demand by Lender therefor. 

(b) Without limitation of the foregoing, Borrower, upon the request of Lender, shall terminate the Management Agreement and replace
Manager, without penalty or fee, if at any time during the Loan: (a) an Event of Default has occurred and is then continuing, (b) there exists a material default by Manager under the Management Agreement, beyond any applicable cure and
grace periods, (c) the Manager shall become insolvent or a debtor in any bankruptcy or insolvency proceeding or (d) if at any time Manager has engaged in gross negligence, fraud or willful misconduct. Within thirty (30) days after
Manager is removed, a Qualified Manager shall assume management of the Property pursuant to a Replacement Management Agreement. 

5.1.19 Environmental Covenants. (a) Borrower covenants and agrees that so long as the Loan is outstanding: (i) all uses
and operations on or of the Property, whether by Borrower or any other Person (if within Borrower’s control, or Borrower shall use its commercially reasonable efforts if such Person is not within Borrower’s control), shall be in compliance
in all material respects with all Environmental Laws and permits issued pursuant thereto; (ii) there shall be no Releases of Hazardous Materials in, on, under or from any of the Property in violation of any Environmental Law whether by Borrower
or any other Person (if within Borrower’s control, or Borrower shall use its commercially reasonable efforts if such Person is not within Borrower’s control); (iii) there shall be no Hazardous Materials in, on, or under the Property,
except those that are both (A) in compliance in all material respects with all Environmental Laws and with permits issued pursuant thereto, if and to the extent required, and (B) (1) in amounts not in excess of that necessary to
operate the Property or (2) fully disclosed to and approved by Lender in writing; (iv) Borrower shall keep the Property free and clear of all liens and other encumbrances imposed pursuant to any Environmental Law, whether due to any act or
omission of Borrower or any other Person (if within Borrower’s control, or Borrower shall use its best efforts to keep the Property free of any such liens if the acts or omissions are of any Person that is not within Borrower’s control)
(the “Environmental Liens”); (v) Borrower shall, at its sole cost and expense, fully and expeditiously cooperate in all activities pursuant to paragraph (b) below, including but not limited to providing all relevant
information and making knowledgeable persons available for interviews; (vi) Borrower shall, at its sole cost and expense, perform any environmental site assessment or other investigation of environmental conditions in connection with the
Property, pursuant to any reasonable written request of Lender, upon 

  
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Lender’s reasonable belief that the Property is not in material compliance with all Environmental Laws non-compliance of which shall have a Material Adverse Effect, and share with Lender the
reports and other results thereof, and Lender and other Indemnified Parties shall be entitled to rely on such reports and other results thereof; (vii) Borrower shall, at its sole cost and expense, comply with all reasonable written requests of
Lender to (A) reasonably effectuate remediation of any Hazardous Materials in, on, under or from the Property to the extent required by any Environmental Law; and (B) comply with any Environmental Law; (viii) Borrower shall use its
commercially reasonable efforts to prevent any tenant or other user of any of the Property from violating any Environmental Law; and (ix) Borrower shall immediately notify Lender in writing after it has become aware of (A) any presence or
Release of Hazardous Materials in, on, under, from or migrating towards the Property in violation of any Environmental Law; (B) any non compliance with any Environmental Laws related in any way to the Property; (C) any actual or potential
Environmental Lien; (D) any required or proposed remediation of environmental conditions relating to any of the Property; and (E) any written notice or other communication of which Borrower becomes aware from any source whatsoever
(including but not limited to a Governmental Authority) relating in any way to Hazardous Materials in, on, under, from or to the Property. 
 (b) Upon Lender’s reasonable belief that the Property is not in compliance with all Environmental Laws in any material respect, Lender and any other Person designated by Lender, including but not
limited to any representative of a Governmental Authority, and any environmental consultant, and any receiver appointed by any court of competent jurisdiction, shall have the right (subject to the rights of tenants under any Leases), but not the
obligation, to enter upon the Property upon reasonable prior notice at all reasonable times to assess any and all aspects of the environmental condition of the Property and its use, including but not limited to conducting any environmental
assessment or audit (the scope of which shall be determined in Lender’s reasonable discretion) and taking samples of soil, groundwater or other water, air, or building materials, and conducting other invasive testing. Borrower shall reasonably
cooperate with and provide access to Lender and any such Person designated by Lender. Lender and such Persons shall use commercially reasonable efforts not to interfere with the activities of tenants and users of the Property. 

5.1.20 Alterations. Borrower shall not be required to obtain Lender’s prior written consent to any alterations to any
Improvements except (i) as otherwise provided in this Agreement, (ii) with respect to alterations that may have a Material Adverse Effect, or (iii) which, in the aggregate, cost in excess of the Alteration Threshold Amount. If the
total unpaid amounts with respect to alterations to the Improvements at the Property (other than such amounts to be paid or reimbursed by tenants under the Leases) shall at any time exceed (x) the Alteration Threshold Amount or (y) at
anytime that the Mezzanine D Loan is outstanding, $1,000,000 (the amounts set forth in subsections (x) and (y) are referred to as the “Alteration Security Threshold”), Borrower shall promptly deliver to Lender as
security for the payment of such amounts and as additional security for Borrower’ obligations under the Loan Documents any of the following: (A) Cash, (B) Governmental Securities, (C) other securities having a rating acceptable
to lender and that the applicable Rating Agencies have confirmed in writing will not, in and of itself, result in a downgrade, withdrawal or qualification of the initial, or, if higher, then current ratings assigned in connection with any
Securitization, (D) completion bond issued by a financial institution having a rating by S&P of no less than A-1+ if the term of such bond is no 

  
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longer than three (3) months or, if such term is in excess of three (3) months, issued by a financial institution having a rating that is acceptable to Lender and that the applicable
Rating Agencies have confirmed in writing will not, in and of itself, result in a downgrade, withdrawal or qualification of the initial, or, if higher, then current ratings assigned in connection with any Securitization, (E) a Letter of Credit
or (F) provided that there shall have been no material adverse change in the financial condition of Guarantor since the date hereof, a guaranty of payment and performance made by Guarantor, in all respects reasonably acceptable to Lender (any
such guaranty shall constitute a Loan Document). Such security shall be in an amount equal to the excess of the total unpaid amounts with respect to alterations to the Improvements on the Property (other than such amounts to be paid or reimbursed by
tenants under the Leases) over the Alteration Security Threshold and applied from time to time at the option Lender to pay for such alterations or to terminate any of the alterations and restore the Property to the extent necessary to prevent any
Material Adverse Effect. 
 5.1.21 OFAC. At all times throughout the term of the Loan, Borrower, Guarantor and their
respective Affiliates shall be in full compliance with all applicable orders, rules, regulations and recommendations of The Office of Foreign Assets Control of the U.S. Department of the Treasury. 

Section 5.2 Negative Covenants. From the Closing Date until payment and performance in full of all obligations of Borrower
under the Loan Documents or the earlier release of the Lien of the Security Instrument encumbering the Property in accordance with the terms of this Agreement and the other Loan Documents, Borrower covenants and agrees with Lender that it will not
do, directly or indirectly, any of the following: 
 5.2.1 Liens. Borrower shall not create, incur, assume or suffer to
exist any Lien on any portion of the Property or permit any such action to be taken, except for Permitted Encumbrances and Liens and Other Charges that are being contested in accordance with Section 5.1.2 hereof. 

5.2.2 Dissolution. Borrower shall not (a) engage in any dissolution, liquidation or consolidation or merger with or into any
other business entity, (b) transfer, lease or sell, in one transaction or any combination of transactions, the assets or all or substantially all of the Property or assets of Borrower except to the extent expressly permitted by the Loan
Documents, (c) except as expressly permitted under the Loan Documents materially modify, materially amend, materially waive or terminate its Organizational Documents or its qualification and good standing in any jurisdiction or (d) cause
the Principal to (i) dissolve, wind up or liquidate or take any action, or omit to take an action, as a result of which the Principal would be dissolved, wound up or liquidated in whole or in part, or (ii) except as expressly permitted
under the Loan Documents materially amend, materially modify, materially waive or terminate the certificate of incorporation or bylaws or similar Organizational Documents of the Principal, in each case, without obtaining the prior written consent of
Lender. 
 5.2.3 Change in Business. Borrower shall not enter into any line of business other than the ownership,
acquisition, development, operation, leasing and management of the Property (including providing services in connection therewith), or make any material change in 

  
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the scope or nature of its business objectives, purposes or operations or undertake or participate in activities other than the continuance of its present business. 

5.2.4 Debt Cancellation. Borrower shall not cancel or otherwise forgive or release any material claim or debt (other than
termination of Leases in accordance herewith) owed to Borrower by any Person, except for adequate consideration and in the ordinary course of Borrower’s business. 
 5.2.5 Zoning. Borrower shall not initiate or consent to any zoning reclassification of any portion of the Property or seek any variance under any existing zoning ordinance or use or permit the use
of any portion of the Property in any manner that could result in such use becoming a non-conforming use under any zoning ordinance or any other Applicable Law, without the prior written consent of Lender. 

5.2.6 No Joint Assessment. Borrower shall not suffer, permit or initiate the joint assessment of the Property with (a) any
other real property constituting a tax lot separate from the Property, or (b) any portion of the Property which may be deemed to constitute personal property, or any other procedure whereby the Lien of any taxes which may be levied against such
personal property shall be assessed or levied or charged to the Property. 
 5.2.7 Name, Identity, Structure, or Principal
Place of Business. Borrower shall not change its name, identity (including its trade name or names), or principal place of business set forth in the introductory paragraph of this Agreement, without, in each case, first giving Lender thirty
(30) days prior written notice. Except as expressly permitted in this Agreement, Borrower shall not change its corporate, partnership or other structure, or the place of its organization as set forth in Section 4.1.34, without, in each
case, the consent of Lender. Upon Lender’s request, Borrower shall execute and deliver additional financing statements, security agreements and other instruments which may be necessary to effectively evidence or perfect Lender’s security
interest in the Property as a result of such change of principal place of business or place of organization. 
 5.2.8
ERISA. (a) During the term of the Loan or during any obligation or right hereunder, Borrower shall not be a Plan and none of the assets of Borrower shall constitute Plan Assets. 

(b) Borrower further covenants and agrees to deliver to Lender a certificate (in form reasonably satisfactory to Lender) not more
frequently than annually during the term of the Loan, within thirty days following a written request by Lender that (A) Borrower is not an “employee benefit plan” as defined in Section 3(3) of ERISA, which is subject to Title I
of ERISA, and that the assets of Borrower do not constitute Plan Assets of one or more such plans for purposes of Title I of ERISA; (B) Borrower is not a “governmental plan” within the meaning of Section 3(32) of ERISA;
(C) Borrower is not subject to State statutes regulating investments and fiduciary obligations with respect to governmental plans that are substantially similar to the provisions of Section 406 of ERISA or Section 4975 of the Code,
which prohibit or otherwise restrict the transactions contemplated by this Agreement; and (D) one or more of the following circumstances is true: 

  
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 (i) Equity interests in Borrower are publicly offered securities, within the
meaning of 29 C.F.R. §2510.3-101(b)(2); 
 (ii) None or less than twenty five percent (25%) of each
outstanding class of equity interests in Borrower are held by “benefit plan investors” within the meaning of 29 C.F.R. §2510.3-101(f)(2), as modified by Section 3(42) of ERISA; or 

(iii) Borrower or a direct or indirect parent entity by which Borrower is wholly owned qualifies as an “operating
company” or a “real estate operating company” within the meaning of 29 C.F.R. §2510.3 101(c) or (e). 

5.2.9 Affiliate Transactions. Borrower shall not enter into, or be a party to, any transaction with an Affiliate of Borrower,
Principal or any of the partners of Borrower or Principal except in the ordinary course of business and on terms which are fully disclosed to Lender in advance and are no less favorable to Borrower or such Affiliate than would be obtained in a
comparable arm’s length transaction with an unrelated third party. Notwithstanding anything contained hereunder, Lender approves the Management Agreement and the manager thereunder. 

5.2.10 Transfers. (a) Borrower shall not sell, convey, mortgage, grant, bargain, encumber, pledge, assign, grant options with
respect to, or otherwise transfer or dispose of (directly or indirectly, voluntarily or involuntarily, by operation of law or otherwise, and whether or not for consideration or of record) the Property or any part thereof or any legal or beneficial
interest therein (other than in connection with a Condemnation) or permit a Sale or Pledge of an interest in any Restricted Party (collectively, a “Transfer”), other than pursuant to Sections 5.2.10(c) and 5.2.11 hereof and
Leases of space in the Improvements to tenants in accordance with the provisions of Section 5.1.17 hereof and other than in connection with the creation of, and enforcement of the remedies available under, the Mezzanine Loan, without
(i) the prior written consent of Lender and (ii) if a Securitization has occurred, delivery to Lender of written confirmation from the Rating Agencies that the Transfer will not result in the downgrade, withdrawal or qualification of the
then current ratings assigned to any Securities or the proposed rating of any Securities. 
 (b) A Transfer shall include, but
not be limited to: (i) an installment sales agreement wherein Borrower agrees to sell the Property or any part thereof for a price to be paid in installments; (ii) an agreement by Borrower leasing all or a substantial part of the Property
for other than actual occupancy by a space tenant thereunder or a sale, assignment or other transfer of, or the grant of a security interest in, Borrower’s right, title and interest in and to any Leases or any Rents; (iii) if a Restricted
Party is a corporation, any merger, consolidation or Sale or Pledge of such corporation’s stock or the creation or issuance of new stock; (iv) if a Restricted Party is a limited or general partnership or joint venture, any merger or
consolidation or the change, removal, resignation or addition of a general partner or the Sale or Pledge of the partnership interest of any general partner or any profits or proceeds relating to such partnership interest, or the Sale or Pledge of
limited partnership interests or any profits or proceeds relating to such limited partnership interests or the creation or issuance of new limited partnership interests; (v) if a Restricted Party is a limited liability company, any merger or
consolidation or the change, removal, resignation or addition of a managing member or non member manager (or if no 

  
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managing member, any member) or the Sale or Pledge of the membership interest of a managing member (or if no managing member, any member) or any profits or proceeds relating to such membership
interest, or the Sale or Pledge of non managing membership interests or the creation or issuance of new non managing membership interests; (vi) if a Restricted Party is a trust or nominee trust, any merger, consolidation or the Sale or Pledge
of the legal or beneficial interest in a Restricted Party or the creation or issuance of new legal or beneficial interests; or (vii) the removal or the resignation of the managing agent (including, without limitation, an Affiliated Manager)
other than in accordance with Section 5.1.18 hereof. 
 (c) Notwithstanding the provisions of Sections 5.2.10(a) and
(b) (but subject to the requirements of subsection (d)), the following transfers/pledges shall not be deemed to be a Transfer (and shall not require the consent or confirmation of Lender or any Rating Agency): (i) a transfer by devise or
descent or by operation of law upon the death of a member, partner or shareholder of a Restricted Party (other than a direct transfer of interests in Borrower or, if a Mezzanine Loan is outstanding, any borrower under the Mezzanine Loan) or of a
Restricted Party itself; (ii) the Sale or Pledge, in one or a series of transactions, of the direct or indirect stock, partnership, membership or other equity interests (as applicable) in a Restricted Party (other than a direct transfer of
interests in Borrower or, if a Mezzanine Loan is outstanding, the borrower under the applicable Mezzanine Loan); provided, however, that such transfers shall not result in a violation of the terms and provisions of
Section 5.2.10(d) hereof, and Borrower will endeavor to deliver to Lender written notice within thirty (30) days following any such transfer contemplated by this Section 5.2.10(c), provided further, however, Borrower
shall not be required to provide notice to Lender of the transfer of the direct or indirect interests in Broadway Partners Parallel Fund B III, L.P., Broadway Partners Parallel Fund P III, L.P. or Broadway Partners Real Estate Fund III, L.P.
(including a transfer by the limited partners in such funds); or (iii) a transfer of the stock or membership or partnership interest in a Restricted Party (other than a direct transfer of interests in Borrower or, if a Mezzanine Loan is
outstanding, the borrower under the applicable Mezzanine Loan) by a member, partner or shareholder of a Restricted Party or a Restricted Party itself to an Immediate Family Member of such member, partner or shareholder, or to a trust for the benefit
of an Immediate Family Member of such member, partner or shareholder. 
 (d) Notwithstanding anything to the contrary contained
in this Section 5.2.10, at all times, either (i) Guarantor must own not less than 10% of the direct or indirect interests in Borrower and control Borrower and Guarantor must be directly or indirectly controlled by Broadway Partners Fund GP
III, LLC or (ii) Borrower must be controlled directly or indirectly by a Qualified Fund Transferee. 
 (e) Lender shall not
be required to demonstrate any actual impairment of its security or any increased risk of default hereunder in order to declare the Debt immediately due and payable upon a Transfer in violation of this Section 5.2.10. This provision shall apply
to every Transfer regardless of whether voluntary or not (other than in connection with a Condemnation), or whether or not Lender has consented to any previous Transfer. Notwithstanding anything to the contrary contained in this Section 5.2.10,
(a) no transfer (whether or not such transfer shall constitute a Transfer) shall be made, to the best of Borrower’s knowledge and after review of the Annex to the Executive Order and any amendments or additions thereto, to any Prohibited
Person and (b) in the event any transfer (whether or not such 

  
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transfer shall constitute a Transfer) results in any Person owning in excess of forty-nine percent (49%) of the ownership interest in Borrower or Principal (directly or indirectly), Borrower
shall, prior to such transfer, deliver an updated Insolvency Opinion to Lender, which opinion shall be in form, scope and substance acceptable in all respects to Lender and the Rating Agencies. 

(f) Notwithstanding anything to the contrary set forth herein, the pledge and foreclosure (or assignment in lieu thereof) of the
Collateral (as defined in each Mezzanine Loan Agreement) in accordance with the applicable Mezzanine Loan Documents shall not constitute a Default or Event of Default under this Agreement. 

5.2.11 Permitted Transfer. Notwithstanding anything to the contrary contained in Section 5.2.10 of this Agreement, Lender
shall not unreasonably withhold, condition or delay its consent to a one-time sale, assignment, or other transfer of the Property provided that (1) Lender receives at least thirty (30) days prior written notice of such transfer,
(2) no Event of Default has occurred and is continuing under this Agreement, the Security Instrument, the Note or the other Loan Documents, and (3) the following conditions have, in the reasonable determination of Lender, been satisfied:

 (a) Borrower or Transferee shall pay any and all costs incurred in connection with the transfer (including, without
limitation, Lender’s reasonable counsel fees and disbursements and all recording fees, title insurance premiums and mortgage and intangible taxes); 
 (b) The proposed transferee (the “Transferee”) shall comply with all of the requirements of Section 4.1.35 hereof; 

(c) Transferee shall assume all of the obligations of Borrower under the Note, the Security Instrument, this Agreement and the other Loan
Documents, and a Replacement Guarantor shall assume all of the obligations of Guarantor under the Guaranty and the Environmental Indemnity, in a manner satisfactory to Lender in all respects, including, without limitation, by entering into an
assumption agreement in form and substance satisfactory to Lender and delivering such legal opinions as Lender may reasonably require; 
 (d) The Property shall be managed by a Qualified Manager following such transfer; 

(e) If a Securitization has occurred, and unless Transferee is wholly-owned and controlled by a Qualified Transferee or a Qualified Fund
Transferee, Transferee shall deliver to Lender written confirmation from the Rating Agency rating any Securities that the transfer and the assumption by Transferee shall not result in a downgrade, withdrawal or qualification of the ratings then
assigned to the Securities; 
 (f) Transferee shall deliver an endorsement to the existing title policy insuring the Security
Instrument as modified by the assumption agreement, as a valid first lien on the Property and naming the Transferee as owner of the fee estate of the Property, which endorsement shall insure that as of the recording of the assumption agreement, the
Property shall not be subject to any additional exceptions or liens other than those contained in the Title Policy; 

  
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 (g) If the Mezzanine Loan is outstanding, all conditions precedent to such transfer set
forth in the Mezzanine Loan Documents shall have been complied with; and 
 (h) Transferee shall deliver to Lender an opinion of
counsel from an independent law firm with respect to the substantive non-consolidation of Transferee and its constituent entities (partners, members or shareholders), which law firm and which opinion shall be satisfactory in all respects to
(i) Lender, if a Securitization has not occurred, or (ii) Lender and the Rating Agencies, if a Securitization has occurred. 
 A consent by Lender with respect to a transfer of the Property in its entirety to, and the related assumption of the Loan by, a Transferee pursuant to this Section 5.2.11 shall not be construed to be
a waiver of the right of Lender to consent to any subsequent transfer of the Property. Except as otherwise specifically set forth herein, immediately upon a transfer of the Property to Transferee and the satisfaction of all of the above
requirements, the named Borrower herein and any then existing Guarantor shall be released from all liability under the Loan Documents accruing after such transfer and which are not the result of any act or omission of Borrower, Guarantor and/or any
of its Affiliates. Notwithstanding anything contained herein to the contrary, Guarantor shall not be released from its liability under the Guaranty in connection with any such transfer unless a Replacement Guarantor shall assume all liability of
Guarantor thereunder in a manner acceptable to Lender. 
 Section 5.3 Transfer Fee. Borrower and Transferee shall
pay in connection with each Transfer of the Property requiring Lender’s approval (i) a transfer fee equal to the lesser of (x) 0.125% of the outstanding principal balance of the Loan and (y) $100,000, which amount shall be
subject to change based upon a resizing of the Loan in accordance with Section 9.5; and (ii) all of Lender’s reasonable expenses incurred in connection with such Transfer, at the time of each such Transfer. 

ARTICLE VI 

INSURANCE; CASUALTY; CONDEMNATION 
 Section 6.1 Insurance. (a) Borrower shall obtain and maintain, or cause to be maintained, Policies for Borrower and the Property providing at least the following coverages: 

(i) comprehensive all risk insurance without an exclusion for wind peril on the Improvements and the Personal Property, in
each case (A) in an amount equal to 100% of the “Full Replacement Cost,” which for purposes of this Agreement shall mean actual replacement value (exclusive of costs of excavations, foundations, underground utilities and
footings) with a waiver of depreciation, (B) containing an agreed amount endorsement with respect to the Improvements and Personal Property waiving all coinsurance provisions; (C) providing for no deductible in excess of $100,000 (unless
such insurance is provided by a blanket umbrella policy approved by Lender in writing in which case the deductible shall not exceed $100,000); and (D) providing coverage for contingent liability from Operation of Building Laws, Demolition Costs
and Increased Cost of Construction Endorsements together with an “Ordinance or Law Coverage” or “Enforcement” endorsement if any of the Improvements or the use of the Property shall

  
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at any time constitute legal non-conforming structures or uses. The above coverage shall include an endorsement requiring the insurer to pay the Full Replacement Cost notwithstanding the fact
that the Property shall constitute a non-conforming use or structure. The Full Replacement Cost shall be redetermined from time to time (but not more frequently than once in any twenty-four (24) calendar months) at the request of Lender by an
appraiser or contractor designated and paid by Borrower and approved by Lender, or by an engineer or appraiser in the regular employ of the insurer. After the first appraisal, additional appraisals may be based on construction cost indices
customarily employed in the trade. No omission on the part of Lender to request any such ascertainment shall relieve Borrower of any of its obligations under this Subsection; 

(ii) commercial general liability insurance against claims for personal injury, bodily injury, death or property damage
occurring upon, in or about the Property, such insurance (A) to be on the so called “occurrence” form with a combined single limit of not less than $1,000,000 per occurrence and $2,000,000 general aggregate; (B) to continue at
not less than the aforesaid limit until required to be changed by Lender in writing by reason of changed economic conditions making such protection inadequate; and (C) to cover at least the following hazards: (1) premises and operations;
(2) products and completed operations on an “if any” basis; (3) independent contractors; (4) blanket contractual liability for all written and oral contracts; and (5) contractual liability covering the indemnities
contained in Article 10 of the Security Instrument to the extent the same is available; 
 (iii) business
interruption/loss of rents insurance (A) with loss payable to Lender; (B) covering all risks required to be covered by the insurance provided for in Section 6.1(a)(i); (C) containing an extended period of indemnity endorsement
which provides that after the physical loss to the Improvements and Personal Property has been repaired, the continued loss of income will be insured until such income either returns to the same level it was at prior to the loss, or the expiration
of eighteen (18) months from the date that the Property is repaired or replaced and operations are resumed, whichever first occurs, and notwithstanding that the policy may expire prior to the end of such period; and (D) in an amount equal
to one hundred percent (100%) of the projected gross income from the Property (on an actual loss sustained basis) for a period of eighteen (18) months. The amount of such business interruption/loss of rents insurance shall be determined
prior to the Closing Date and at least once each year thereafter based on the greater of (x) Borrower’s reasonable estimate of the gross income (but excluding any extraordinary and non-recurring revenues) from the Property for the
succeeding eighteen (18) month period and (y) the highest gross income received during the term of the Note for any full calendar year prior to the date the amount of such insurance is being determined. All insurance proceeds payable to
Lender pursuant to this Section 6.1(a)(iii) shall be held by Lender and shall be applied to the obligations secured hereunder from time to time due and payable hereunder and under the Note and this Agreement; provided, however,
that nothing herein contained shall be deemed to relieve Borrower of its obligations to pay the obligations secured hereunder on the respective dates of payment provided for in the Note and this Agreement except to the extent such amounts are
actually paid out of the proceeds of such business interruption/loss of rents insurance; 

  
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 (iv) at all times during which structural construction, repairs or
alterations are being made with respect to the Improvements (A) owner’s contingent or protective liability insurance covering claims not covered by or under the terms or provisions of the insurance provided for in Section 6.1(c)(ii);
and (B) the insurance provided for in Section 6.1(a)(i) shall be written in a so called builder’s risk completed value form covering 100% of the total costs of construction, with no exclusion for wind or terrorism (1) on a non
reporting basis, (2) against all risks insured against pursuant to Section 6.1(a)(i), (3) shall include permission to occupy the Property, and (4) shall contain an agreed amount endorsement waiving co insurance provisions;

 (v) to the extent Borrower has any employees, workers’ compensation, subject to the statutory limits of
the State in which the Property is located, and employer’s liability insurance with a limit of at least $2,000,000.00 per accident and per disease per employee, and $2,000,000.00 for disease aggregate in respect of any work or operations on or
about the Property, or in connection with the Property or its operation (if applicable); 
 (vi) comprehensive
boiler and machinery insurance, if applicable, in amounts as shall be reasonably required by Lender on terms consistent with the commercial property insurance policy required under Section 6.1(c)(i); 

(vii) if any portion of the Improvements is at any time located in an area identified by the Secretary of Housing and
Urban Development or any successor thereto as an area having special flood hazards pursuant to the National Flood Insurance Act of 1968, the Flood Disaster Protection Act of 1973 or the National Flood Insurance Reform Act of 1994, as each may be
amended, or any successor law (the “Flood Insurance Acts”), flood hazard insurance of the following types and in the following amounts (A) coverage under Policies issued pursuant to the Flood Insurance Acts (the
“Flood Insurance Policies”) in an amount equal to the maximum limit of coverage available for the Property under the Flood Insurance Acts, subject only to customary deductibles under such Policies and (B) coverage under
supplemental private Policies in an amount not less than the amount of the Loan as each may be amended or such greater amount as Lender shall reasonably require; 

(viii) earthquake, sinkhole and mine subsidence insurance, if such insurance is then regularly required by prudent
institutional mortgage lenders for properties similar in size, location and quality as the Property, in amounts, form and substance reasonably satisfactory to Lender, provided that the insurance pursuant to this Section 6.1(a)(viii)
hereof shall be on terms consistent with the all risk insurance policy required under Section 6.1(a)(i) hereof; 
 (ix) umbrella liability insurance in an amount not less than One Hundred Million and 00/100 Dollars ($100,000,000) per occurrence on terms consistent with the commercial general liability insurance policy
required under Section 6.1(a) hereof; 

  
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 (x) motor vehicle coverage for all owned and non owned vehicles, including
rented and leased vehicles containing minimum limits per occurrence, including umbrella coverage of One Million and No/100 Dollars ($1,000,000); 
 (xi) parking garage liability coverage containing minimum limits per occurrence, including umbrella coverage of One Million and No/100 Dollars ($1,000,000); 

(xii) insurance against employee dishonesty in an amount not less than one (1) month of gross revenue from the
Property and with a deductible not greater than One Hundred Thousand and No/100 Dollars ($100,000); 
 (xiii)
so-called “dramshop” insurance of other liability insurance required in connections with the sale of alcoholic beverages; 
 (xiv) if “acts of terrorism” or other similar acts or events or “fire following” are hereafter excluded from Borrower’s comprehensive all risk insurance policy or policies
required under Sections 6.1(a)(i) and 6.1(a)(iii) above, Borrower shall obtain an endorsement to such policy or policies, or a separate policy from an insurance provider which maintains at least an investment grade rating from S&P (that is,
“BBB-”) and, if they are rating the Securities and if they rate the insurer from Fitch (that is, “BBB-”) and from Moody’s (that is, “Baa3”), insuring against all such excluded acts or events and “fire
following”, to the extent such policy or endorsement is available, in an amount determined by Lender in its sole discretion (but in no event more than an amount equal to the sum of 100% of the “Full Replacement Cost” and eighteen
(18) months business interruption insurance), provided, however, Borrower shall not be required to pay annual premiums in excess of the Terrorism Insurance Cap for the coverage required under this Section 6.1(a)(xiv) for the Property, it
being agreed that the endorsement or policy shall be in form and substance reasonably satisfactory to Lender. Notwithstanding the foregoing, for so long as TRIA is in effect (including any extensions or if another federal governmental program is in
effect which provides substantially similar protections as TRIA), Lender shall accept terrorism insurance which covers against “covered acts” as defined by TRIA (or such other program) as full compliance with this Section 6.1(a)(xiv)
as it relates to the risks that are required to be covered; and 
 (xv) such other insurance and in such amounts
as Lender from time to time may reasonably request against such other insurable hazards which at the time are commonly insured against for property similar to the Property located in or around the region in which the Property is located. 

(b) All insurance provided for in Section 6.1(a) hereof shall be obtained under valid and enforceable policies (the
“Policies” or in the singular, the “Policy”), in such forms and, from time to time after the date hereof, in such amounts as may be satisfactory to Lender, issued by financially sound and responsible
insurance companies authorized to do business in the State in which the Property is located and approved by Lender. The insurance companies must have a claims paying ability/financial strength rating of “A-/A2” (or its equivalent) or
better by at least two (2) Rating Agencies (one of which will be S&P if they are rating the Securities and one of 

  
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which shall be Moody’s if they are rating the Securities), or if only one Rating Agency is rating the Securities, then only by such Rating Agency (each such insurer shall be referred to
below as a “Qualified Insurer”), provided that if any insurance required is provided by a syndicate of insurers, the insurers with respect to such insurance shall be acceptable if there are five (5) or more
insurers, 60% of the insurance providers must carry a minimum financial strength rating from S&P of “A-” or better with no insurer rated less than “BBB”. Not less than fifteen (15) days prior to the expiration dates of
the Policies theretofore furnished to Lender pursuant to Section 6.1 (a), Borrower shall deliver either (i) certified copies of the Policies marked “premium paid” or accompanied by evidence satisfactory to Lender of payment of
the premiums due thereunder (the “Insurance Premiums”), or (ii) Acord certificates evidencing the effectiveness of the required Policies and payment of Insurance Premiums, provided, however, that Borrower
shall provide certified copies of the Policies to Lender promptly upon Borrower’s receipt thereof and in any event within ninety (90) days of the effective date of such Policies. 

(c) Borrower shall not obtain (i) any umbrella or blanket liability or casualty Policy unless, in each case, such Policy is approved
in advance in writing by Lender and Lender’s interest is included therein as provided in this Agreement and such Policy is issued by a Qualified Insurer, or (ii) separate insurance concurrent in form or contributing in the event of loss
with that required in Section 6.1 (a) to be furnished by, or which may be reasonably required to be furnished by, Borrower. In the event Borrower obtains separate insurance or an umbrella or a blanket policy, Borrower shall notify Lender
of the same and shall cause certified copies of each Policy to be delivered as required in Section 6.1 (a). Any blanket insurance Policy shall specifically allocate to the Property the amount of coverage from time to time required hereunder and
shall otherwise provide the same protection as would a separate Policy insuring only the Property in compliance with the provisions of Section 6.1 (a). Notwithstanding Lender’s approval of any umbrella or blanket liability or casualty
Policy hereunder, Lender reserves the right, in its sole discretion, to require Borrower to obtain a separate Policy in compliance with this Section 6.1. 
 (d) All Policies provided for or contemplated by Section 6.1 (a) hereof, except for the Policy referenced in Section 6.1(a)(v), shall name Lender and Borrower as the insured or additional
insured, as their respective interests may appear, and in the case of property damage, boiler and machinery, and flood insurance, shall contain a so called New York standard non- contributing mortgagee clause in favor of Lender providing that the
loss thereunder shall be payable to Lender. 
 (e) All Policies provided for in Section 6.1 (a) hereof shall contain
clauses or endorsements to the effect that: 
 (i) no act or negligence of Borrower, or anyone acting for
Borrower, or failure to comply with the provisions of any Policy which might otherwise result in a forfeiture of the insurance or any part thereof, shall in any way affect the validity or enforceability of the insurance insofar as Lender is
concerned; 
 (ii) the Policy shall not be materially changed (other than to increase the coverage provided
thereby) or cancelled without at least 30 days’ written notice to Lender and any other party named therein as an insured or additional insured; 

  
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 (iii) each Policy shall provide that the issuers thereof shall give written
notice to Lender if the Policy has not been renewed thirty (30) days prior to its expiration; and 
 (iv)
Lender shall not be liable for any Insurance Premiums thereon or subject to any assessments thereunder. 
 (f) If at any time
Lender is not in receipt of written evidence that all insurance required hereunder is in full force and effect, Lender shall have the right, without notice to Borrower to take such action as Lender deems necessary to protect its interest in the
Property, including, without limitation, the obtaining of such insurance coverage as Lender in its sole discretion deems appropriate, and all expenses incurred by Lender in connection with such action or in obtaining such insurance and keeping it in
effect shall be paid by Borrower to Lender upon demand and until paid shall be secured by the Security Instrument and shall bear interest at the Default Rate. 
 (g) In the event of a foreclosure of the Security Instrument, or other transfer of title to the Property in extinguishment in whole or in part of the Debt all right, title and interest of Borrower in and
to the Policies then in force and all proceeds payable thereunder allocable to the Property shall thereupon vest in the purchaser at such foreclosure or Lender or other transferee in the event of such other transfer of title. 

(h) Upon the written request of Lender, Borrower shall furnish to Lender, on or before thirty (30) days after the close of each of
Borrower’s Fiscal Years, a statement certified by Borrower or a duly authorized officer of Borrower of the amounts of insurance maintained in compliance herewith, of the risks covered by such insurance and of the insurance company or companies
which carry such insurance and, if requested by Lender, verification of the adequacy of such insurance by an independent insurance broker or appraiser acceptable to Lender. 
 Section 6.2 Casualty. If the Property shall be damaged or destroyed, in whole or in part, by fire or other casualty (a “Casualty”), Borrower shall give prompt notice of
such damage to Lender and shall, provided the Net Proceeds are made available by Lender for such Restoration pursuant to Section 6.4 hereof, promptly commence and diligently prosecute the completion of the Restoration of the Property as nearly
as possible to the condition the Property was in immediately prior to such Casualty, with such alterations as may be reasonably approved by Lender and otherwise in accordance with Section 6.4. Borrower shall pay all costs of such Restoration
whether or not such costs are covered by insurance. Lender may, but shall not be obligated to make proof of loss if not made promptly by Borrower. 
 Section 6.3 Condemnation. Borrower shall promptly give Lender notice of the actual or threatened commencement of any proceeding for the Condemnation of all or any part of the Property of which
Borrower has received written notice of and shall deliver to Lender copies of any and all papers served in connection with such proceedings. Lender may participate in any such proceedings during the continuance of an Event of Default or where such
proceedings involve an Award in excess of $500,000, and Borrower shall from time to time deliver to Lender all instruments requested by it to permit such participation. Borrower shall, at its expense, diligently prosecute any such proceedings, and
shall consult with Lender, its attorneys and experts, and cooperate with them in the carrying on or defense of any such proceedings during 

  
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the continuance of an Event of Default or where such proceedings involve an Award in excess of $500,000. Notwithstanding any taking by any public or quasi public authority through Condemnation or
otherwise (including, but not limited to, any transfer made in lieu of or in anticipation of the exercise of such taking), Borrower shall continue to pay the Debt at the time and in the manner provided for its payment in the Note and in this
Agreement and the Debt shall not be reduced until any Award shall have been actually received and applied by Lender, after the deduction of expenses of collection, to the reduction or discharge of the Debt. Lender shall not be limited to the
interest paid on the Award by the condemning authority but shall be entitled to receive out of the Award interest at the rate or rates provided herein or in the Note. If the Property or any portion thereof is taken by a condemning authority,
Borrower shall, provided that the Net Proceeds are made available by Lender to Borrower pursuant to Section 6.4 hereof, promptly commence and diligently prosecute the Restoration of the Property and otherwise comply with the provisions
of Section 6.4. If the Property is sold, through foreclosure or otherwise, prior to the receipt by Lender of the Award, Lender shall have the right, whether or not a deficiency judgment on the Note shall have been sought, recovered or denied,
to receive the Award, or a portion thereof sufficient to pay the Debt. 
 Section 6.4 Restoration. The following
provisions shall apply in connection with the Restoration of the Property: 
 (a) If the Net Proceeds shall be less than the
Restoration Threshold Amount and the costs of completing the Restoration shall be less than the Restoration Threshold Amount, the Net Proceeds will be disbursed by Lender to Borrower upon receipt, provided that all of the conditions set forth
in Section 6.4(b)(i) are met and Borrower delivers to Lender a written undertaking to expeditiously commence and to satisfactorily complete with due diligence the Restoration in accordance with the terms of this Agreement. 

(b) If the Net Proceeds are equal to or greater than the Restoration Threshold Amount or the costs of completing the Restoration is equal
to or greater than the Restoration Threshold Amount, Lender shall make the Net Proceeds available for the Restoration in accordance with the provisions of this Section 6.4. The term “Net Proceeds” shall mean:
(i) the net amount of all insurance proceeds received by Lender pursuant to Section 6.1(a)(i), (iv), (vi), (vii), (viii) and (with respect to casualty insurance only) (x) as a result of such damage or destruction, after deduction
of its reasonable costs and expenses (including, but not limited to, reasonable counsel fees), if any, in collecting same (“Insurance Proceeds”), or (ii) the net amount of the Award, after deduction of its reasonable
costs and expenses (including, but not limited to, reasonable counsel fees), if any, in collecting same (“Condemnation Proceeds”), whichever the case may be. 

(i) The Net Proceeds shall be made available to Borrower for Restoration provided that each of the following
conditions are met: 
 (A) no Event of Default shall have occurred and be continuing; 

(B) (1) in the event the Net Proceeds are Insurance Proceeds, less than forty percent (40%) of the total floor area
of the Improvements on the Property has been damaged, destroyed or rendered unusable as a result of such Casualty or 

  
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(2) in the event the Net Proceeds are Condemnation Proceeds, less than ten percent (10%) of the land constituting the Property is taken, and such land is located along the perimeter or
periphery of the Property, and no portion of the Improvements is located on such land; 
 (C) Leases demising in
the aggregate a percentage amount equal to or greater than seventy percent (70%) of the total rentable space in the Property which has been demised under executed and delivered Leases in effect as of the date of the occurrence of such Casualty
or Condemnation, whichever the case may be, shall remain in full force and effect during and after the completion of the Restoration, notwithstanding the occurrence of any such Casualty or Condemnation, whichever the case may be, and Borrower
furnishes to Lender evidence satisfactory to Lender that all tenants under Major Leases shall continue to operate their respective space at the Property after the completion of the Restoration; 

(D) Subject to Force Majeure, Borrower shall commence the Restoration as soon as reasonably practicable (but in no event
later than ninety (90) days after such Casualty or Condemnation, whichever the case may be, occurs) and shall diligently pursue the same to satisfactory completion in compliance with all Applicable Laws including, without limitation, all
applicable Environmental Laws; 
 (E) Lender shall be reasonably satisfied that any operating deficits, including
all scheduled payments of principal and interest under the Note, which will be incurred with respect to the Property as a result of the occurrence of any such Casualty or Condemnation, whichever the case may be, will be covered out of (1) the
Net Proceeds, (2) the insurance coverage referred to in Section 6.1(a)(iii), if applicable, (3) by other funds of Borrower or (4) such other collateral reasonably acceptable to Lender delivered by Borrower to Lender to secure the
obligation of Borrower to pay such operating deficits provided that in no event shall Lender be obligated to accept such collateral if any REMIC Trust formed pursuant to a Securitization will fail to maintain its status as a “real estate
mortgage investment conduit” within the meaning of Section 860D of the Code as a result of such collateral being delivered to Lender; 
 (F) Lender shall be satisfied that the Restoration will be substantially completed on or before the earliest to occur of (1) six (6) months prior to the Maturity Date, (2) twelve
(12) months after the occurrence of such Casualty or Condemnation, (3) the earliest date required for such completion under the terms of any Leases which are required in accordance with the provisions of this Section 6.4(b) to remain
in effect subsequent to the occurrence of such Casualty or Condemnation and the completion of the Restoration, (4) such time as may be required under Applicable Law in order to repair and restore the Property to the substantially the same
condition it was in immediately prior to such Casualty or Condemnation or (5) the expiration of the insurance coverage referred to in Section 6.1(a)(iii); provided, however, that the requirements set forth in this

  
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subsection (F) shall be subject to Force Majeure but in no event shall Lender be obligated to make any Net Proceeds available if Lender is not satisfied that the Restoration will be
substantially completed on or before the Maturity Date notwithstanding the occurrence of any Force Majeure; 

(G) the Property and the use thereof after the Restoration will be in compliance with and permitted under all Applicable
Laws; 
 (H) Lender shall be satisfied that the Gross Income from Operations of the Property for the succeeding
twelve (12) month period following the completion of the Restoration will be restored to a level sufficient to cover all carrying costs and operating expenses of the Property for such twelve (12) month period, including, without
limitation, debt service on the Note at a coverage ratio (after deducting all required reserves as required by Lender from net operating income) of at least equal to or greater than the lesser of (i) 1.25x and (2) the coverage ratio that
existed prior to the related Casualty or Condemnation, which coverage ratio shall be determined by Lender in its sole discretion on the basis of the Applicable Interest Rate; 

(I) any operating deficits which will be incurred with respect to the Property as a result of the occurrence of any such
fire or other casualty will be covered out of (1) the Net Proceeds, (2) the insurance coverage referred to in Section 6.1(a)(iii), or (3) by other funds of Borrower; 

(J) such Casualty or Condemnation, as applicable, does not result in the total loss of access to the Property or the
related Improvements; 
 (K) Borrower shall deliver, or cause to be delivered, to Lender a signed detailed budget
approved in writing by Borrower’s architect or engineer stating the entire cost of completing the Restoration, which budget shall be acceptable to Lender; 
 (L) the Net Proceeds together with any Cash or Cash Equivalent deposited by Borrower with Lender are sufficient in Lender’s discretion to cover the cost of the Restoration; and 

(M) the Management Agreement in effect as of the date of the occurrence of such Casualty or Condemnation, whichever the
case may be, shall (1) remain in full force and effect during the Restoration and shall not otherwise terminate as a result of the Casualty or Condemnation or the Restoration or (2) if terminated, shall have been replaced with a
Replacement Management Agreement with a Qualified Manager, prior to the opening or reopening of the Property or any portion thereof for business with the public. 

(ii) The Net Proceeds shall be held by Lender in an interest bearing account and, until disbursed in accordance with the
provisions of this Section 6.4(b), shall constitute additional security for the Debt and other obligations under the Loan Documents. The Net Proceeds shall be promptly disbursed by Lender to, or as directed

  
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by, Borrower from time to time during the course of the Restoration, upon receipt of evidence satisfactory to Lender that (A) all materials installed and work and labor performed (except to
the extent that they are to be paid for out of the requested disbursement) in connection with the Restoration have been paid for in full, and (B) there exist no notices of pendency, stop orders, mechanic’s or materialman’s liens or
notices of intention to file same, or any other Liens or encumbrances of any nature whatsoever on the Property which have not either been fully bonded to the satisfaction of Lender and discharged of record or in the alternative fully insured to the
satisfaction of Lender by the title company issuing the Title Insurance Policy. 
 (iii) In the event the total
cost of Restoration is $500,000.00 or more, all plans and specifications required in connection with the Restoration, shall be subject to prior review and acceptance in all respects by Lender and by an independent consulting engineer selected by
Lender (the “Casualty Consultant”). Lender shall have the use of the plans and specifications and all permits, licenses and approvals required or obtained in connection with the Restoration. The identity of the contractors,
subcontractors and materialmen engaged in the Restoration as well as the contracts under which they have been engaged, shall be subject to prior review and acceptance by Lender and the Casualty Consultant. All costs and expenses incurred by Lender
in connection with making the Net Proceeds available for the Restoration including, without limitation, reasonable counsel fees and disbursements and the Casualty Consultant’s fees, shall be paid by Borrower. 

(iv) In no event shall Lender be obligated to make disbursements of the Net Proceeds in excess of an amount equal to the
costs actually incurred from time to time for work in place as part of the Restoration, as certified by the Casualty Consultant, minus the Casualty Retainage. The term “Casualty Retainage” shall mean an amount equal to ten
percent (10%), of the costs actually incurred for work in place as part of the Restoration, as certified by the Casualty Consultant, until the Restoration has been completed. The Casualty Retainage shall in no event, and notwithstanding anything to
the contrary set forth above in this Section 6.4(b), be less than the amount actually held back by Borrower from contractors, subcontractors and materialmen engaged in the Restoration. The Casualty Retainage shall not be released until the
Casualty Consultant certifies to Lender that the Restoration has been completed in accordance with the provisions of this Section 6.4(b) and that all approvals necessary for the re occupancy and use of the Property have been obtained from all
appropriate Governmental Authorities, and Lender receives evidence satisfactory to Lender that the costs of the Restoration have been paid in full or will be paid in full out of the Casualty Retainage; provided, however, that Lender
will release the portion of the Casualty Retainage being held with respect to any contractor, subcontractor or materialman engaged in the Restoration as of the date upon which the Casualty Consultant certifies to Lender that the contractor,
subcontractor or materialman has satisfactorily completed all work and has supplied all materials in accordance with the provisions of the contractor’s, subcontractor’s or materialman’s contract, the contractor, subcontractor or
materialman delivers the lien waivers and evidence of payment in full of all sums due to the contractor, subcontractor or materialman as may be reasonably requested by Lender or by the title company issuing the Title Insurance Policy for the
Property, and Lender receives an endorsement to such 

  
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Title Insurance Policy insuring the continued priority of the Lien of the Security Instrument and evidence of payment of any premium payable for such endorsement. If required by Lender, the
release of any such portion of the Casualty Retainage shall be approved by the surety company, if any, which has issued a payment or performance bond with respect to the contractor, subcontractor or materialman. 

(v) Lender shall not be obligated to make disbursements of the Net Proceeds more frequently than once every calendar
month. 
 (vi) If at any time the Net Proceeds or the undisbursed balance thereof shall not, in the reasonable
opinion of Lender in consultation with the Casualty Consultant, if any, be sufficient to pay in full the balance of the costs which are estimated by the Casualty Consultant to be incurred in connection with the completion of the Restoration,
Borrower shall deposit the deficiency (the “Net Proceeds Deficiency”) with Lender before any further disbursement of the Net Proceeds shall be made. The Net Proceeds Deficiency deposited with Lender shall be held by Lender
and shall be disbursed for costs actually incurred in connection with the Restoration on the same conditions applicable to the disbursement of the Net Proceeds, and until so disbursed pursuant to this Section 6.4(b) shall constitute additional
security for the Debt and other obligations under the Loan Documents. 
 (vii) The excess, if any, of the Net
Proceeds and the remaining balance, if any, of the Net Proceeds Deficiency deposited with Lender after the Casualty Consultant certifies to Lender that the Restoration has been completed in accordance with the provisions of this Section 6.4(b),
and the receipt by Lender of evidence satisfactory to Lender that all costs incurred in connection with the Restoration have been paid in full, shall be remitted by Lender to Borrower, provided no Event of Default shall have occurred and shall be
continuing under the Note, this Agreement or any of the other Loan Documents; provided, however, the amount of such excess returned to Borrower in the case of a Condemnation shall not exceed the amount of Net Proceeds Deficiency deposited by
Borrower with the balance being applied to the Debt in the manner provided for in subsection 6.4(c). 
 (c) All Net Proceeds not
required (i) to be made available for the Restoration in accordance with either Section 6.4(a) or (b) (due to the fact that Borrower has not satisfied one or more of the provisions of such Sections) or (ii) to be returned to
Borrower as excess Net Proceeds pursuant to Section 6.4(b)(vii) may be retained and applied by Lender toward the payment of the Debt whether or not then due and payable in such order, priority and proportions as Lender in its sole discretion
shall deem proper, or, at the discretion of Lender, the same may be paid, either in whole or in part, to Borrower for such purposes as Lender shall approve, in its discretion. If Lender shall receive and retain Net Proceeds, the Lien of the Security
Instrument shall be reduced only by the amount thereof received and retained by Lender and actually applied by Lender in reduction of the Debt. 
 (d) Notwithstanding the last sentence of Section 6.1(a)(iii) and provided no Event of Default exists hereunder, proceeds received by Lender on account of the business interruption insurance specified
in Subsection 6.1(a)(iii) above with respect to any Casualty shall 

  
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be deposited by Lender directly into the Deposit Account but (a) only to the extent it reflects a replacement for (i) lost Rents that would have been due under Leases existing on the
date of such Casualty, and/or (ii) lost Rents under Leases that had not yet been executed and delivered at the time of such Casualty which Borrower has proven to the insurance company would have been due under such Leases (and then only to the
extent such proceeds disbursed by the insurance company reflect a replacement for such past due Rents) and (b) only to the extent necessary to fully make the disbursements required by Section 3.3(a)(i) through (vii) of the Cash
Management Agreement for the period that such business interruption insurance proceeds relate to. Notwithstanding the foregoing and provided no Event of Default exists, in the event Lender receives any business interruption insurance proceeds that
relate to any period prior to Lender’s receipt of such proceeds, Lender shall use such business interruption insurance proceeds to reimburse Borrower for deposits required by Section 3.3(a)(i) through (vi) of the Cash
Management Agreement during such period and which deposits or payments were actually paid by Borrower during such period. 

ARTICLE VII 
 RESERVE FUNDS 
 Section 7.1 Required Repairs. Borrower shall
perform the repairs at the Property, as more particularly set forth on Schedule III hereto (such repairs hereinafter referred to as “Required Repairs”). Borrower shall complete the Required Repairs on or before the required
deadline for each repair as set forth on Schedule III provided that, if any such Required Repair cannot be completed by such date due to the occurrence of events beyond Borrower’s control, then Borrower shall have such longer period of
time as is required to complete such Required Repair, so long as Borrower is at all times diligently pursuing completion of same. It shall be an Event of Default under this Agreement if Borrower does not complete the Required Repairs at the Property
by the required deadline for each repair as set forth on Schedule III. 
 Section 7.2 Tax and Insurance Escrow Fund.
(a) On the Closing Date, Borrower shall deposit with Lender an amount equal to $3,894,388,59 to be deposited into the Tax Reserve Account and (subject to Section 7.8(b)) to be used solely for the payment of Taxes. 

(b) Borrower shall pay to Lender on the Payment Date occurring in August, 2007 and on each Payment Date thereafter one-twelfth of the
Taxes (the “Monthly Tax Deposit”) that Lender reasonably estimates will be payable during the next ensuing twelve (12) months in order to accumulate with Lender sufficient funds to pay all such Taxes at least thirty
(30) days prior to their respective due dates. 
 (c) Borrower shall pay to Lender on the Payment Date occurring in August
2007 and on each Payment Date thereafter one-twelfth of the Insurance Premiums (the “Monthly Insurance Premium Deposit”) (subject to Section 7.8(b)) to be used solely for the payment of Insurance Premiums that Lender
estimates will be payable for the renewal of the coverage afforded by the Policies upon the expiration thereof in order to accumulate with Lender sufficient funds to pay all such Insurance Premiums at least thirty (30) days prior to the

  
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expiration of the Policies (said amounts in (a), (b) and (c) hereof hereinafter called the “Tax and Insurance Escrow Fund”). 

(d) The Tax and Insurance Escrow Fund and the payments of interest or principal or both, payable pursuant to the Note and this Agreement,
shall be added together and shall be paid as an aggregate sum by Borrower to Lender. Lender will apply the Tax and Insurance Escrow Fund to payments of Taxes and Insurance Premiums required to be made by Borrower pursuant to Sections 5.1.2 and 6.1
hereof, hi making any payment relating to the Tax and Insurance Escrow Fund, Lender may do so according to any bill, statement or estimate procured from the appropriate public office (with respect to Taxes) or insurer or agent (with respect to
Insurance Premiums), without inquiry into the accuracy of such bill, statement or estimate or into the validity of any tax, assessment, sale, forfeiture, tax lien or title or claim thereof. If the amount of the Tax and Insurance Escrow Fund shall
exceed the amounts due for Taxes and Insurance Premiums pursuant to Sections 5.1.2 and 6.1 hereof, Lender shall return any excess to Borrower or credit such excess against future payments to be made to the Tax and Insurance Escrow Fund. In
allocating such excess, Lender may deal with the Person shown on the records of Lender to be the owner of the Property. Any amount remaining in the Tax and Insurance Escrow Fund after the Debt has been paid in full shall be returned to Borrower. If
at any time Lender reasonably determines that the Tax and Insurance Escrow Fund is not or will not be sufficient to pay Taxes and Insurance Premiums by the dates set forth in (a) and (b) above, Lender shall notify Borrower of such
determination and Borrower shall increase its monthly payments to Lender by the amount that Lender estimates is sufficient to make up the deficiency at least thirty (30) days prior to delinquency of the Taxes and/or thirty (30) days prior
to expiration of the Policies, as the case may be. 
 (e) (i) Notwithstanding the foregoing, in the event that (A) Borrower
delivers to Lender, evidence reasonably satisfactory to Lender, that (1) the liability or casualty Policy maintained by Borrower covering the Property constitutes an approved blanket or umbrella Policy pursuant to Section 6.1(c) that
provides for the payment of Insurance Premiums on an annual basis and (2) the Insurance Premiums for such approved blanket or umbrella Policy have been paid in full, Lender shall disburse to Borrower all amounts held in the Tax and Insurance
Escrow Fund for the payment of Insurance Premiums; or (B) Borrower delivers to Lender, evidence satisfactory to Lender in all respects, that (1) the liability or casualty Policy maintained by Borrower covering the Properties constitutes an
approved blanket or umbrella Policy pursuant to Section 6.1(c) that provides for the payment of Insurance Premiums on a monthly basis and (2) the first monthly installment of the Insurance Premiums for such approved blanket or umbrella
Policy has been paid in full, Lender shall disburse to Borrower all amounts held in the Tax and Insurance Escrow Fund for the payment of Insurance Premiums (less an amount equal to one monthly installment of the Insurance Premiums due and payable
with respect to such approved blanket or umbrella Policy). 
 (ii) Notwithstanding the foregoing, Borrower’s
obligation to make any deposits into the Tax and Insurance Escrow Fund with respect to Insurance Premiums pursuant to Section 7.2(c) above shall be waived if Borrower delivers to Lender a Letter of Credit in the face amount of amounts required
to be on deposit with Lender from time to time in the Tax and Insurance Escrow Fund for Insurance Premiums. 

  
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 (f) Notwithstanding the foregoing, Borrower’s obligation to make any deposits of into
the Tax and Insurance Escrow Fund with respect to Taxes pursuant to Sections 7.2(a) and (b) above shall be waived if Borrower delivers to Lender a Letter of Credit in the face amount of amounts required to be on deposit in the Tax and Insurance
Escrow Fund with Lender from time to time for Taxes. 
 Section 7.3 Intentionally Deleted. 

Section 7.4 Rollover/Replacement Reserve. 
 7.4.1 Deposits into the Rollover/Replacement Reserve Account. On the Closing Date, Borrower shall deposit with Lender an amount equal to $1,549,120.00 to be deposited in the Rollover/Replacement
Reserve Account (the “Initial Rollover/Replacement Reserve Deposit”) to be used solely for Replacements. In addition, Borrower shall deposit with Lender (i) upon the exercise of each Extension Option the amount, if any,
required pursuant to Section 2.2.1(c)(v) (which, to the extent applicable, shall be used for Leasing Expenses and Replacements), and (ii) all Lease Termination Payments. The Initial Rollover/Replacement Reserve Deposit, all Lease
Termination Payments and all other deposits required to be made in accordance with this Section 7.4.1 (collectively, the “Required Leasing Reserve Deposits”) shall be held by Lender in the Rollover/Replacement Reserve
Account. Amounts deposited into the Rollover/Replacement Reserve Account in accordance with this Section 7.4.1 shall be referred to herein as the “Rollover/Replacement Reserve Fund.” Notwithstanding anything to the
contrary contained herein, Borrower’s obligation to make any deposits into the Rollover/Replacement Reserve Fund above shall be waived if Borrower delivers to Lender a Letter of Credit in the face amount of amounts required to be on deposit
with Lender from time to time for the Rollover/Replacement Reserve Fund. 
 7.4.2 Disbursements from the Rollover/Replacement
Reserve Account. (a) With respect to disbursements from the Rollover/Replacement Reserve Fund for Leasing Expenses incurred by Borrower, Lender shall make disbursements from the Rollover/Replacement Reserve Fund from time to time upon
satisfaction by Borrower of each of the following conditions: 
 (i) With respect to all Leasing Expenses, Lender
shall make disbursements as requested by Borrower on a monthly basis in increments of no less than $5,000.00 upon delivery by Borrower to Lender of a draw request in form attached hereto as Schedule X accompanied by, if such disbursement relates to
tenant improvement or leasing commission obligations, copies of paid or to be paid invoices for the amounts requested , an Officer’s Certificate in the form attached hereto as Schedule XVIII designating the particular Lease for which such
disbursement is sought and certifying that the requested Leasing Expenses have been incurred by Borrower and, if required by Lender, lien waivers and releases from all parties furnishing more than $50,000 worth of materials and/or services in
connection with the requested payment (provided, however, that receipt of such lien waivers shall be a condition to the requested disbursement only if the aggregate amount of all such required lien waivers not received by Lender (including those in
connection with all prior disbursements under this Section 7.4) equals or exceeds $250,000). 

  
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 (ii) With respect to all Leasing Expenses, at Lender’s option, Lender
may reasonably require an inspection of the Property at Borrower’s expense prior to making a disbursement in order to verify completion of improvements for which payment or reimbursement is sought. 

(b) (i) With respect to disbursements from the Rollover/Replacement Reserve Fund for Replacements incurred by Borrower, in no event
shall the total amount of disbursements from Rollover/Replacement Reserve Account with respect to Replacements be less than the Minimum Replacement Disbursement Amount. Lender shall make disbursements from the Rollover/Replacement Reserve Account
for Replacements from time to time upon satisfaction by Borrower of each of the following conditions: (A) Borrower shall submit a written request for payment to Lender at least fifteen (15) days prior to the date on which Borrower requests
such payment be made and specifies the Replacements to be paid, (B) on the date such request is received by Lender and on the date such payment is to be made, no Event of Default shall exist and remain uncured, (C) Lender shall have
received an Officers’ Certificate in the form attached hereto as Schedule XIV (1) stating that all Replacements at the Property to be funded by the requested disbursement have been or will be completed in good and workmanlike manner and,
to the best of Borrower’s knowledge, in accordance with all Legal Requirements and Environmental Laws, such certificate to be accompanied by a copy of any license, permit or other approval by any Governmental Authority if required to commence
and/or complete the Replacements, (2) identifying each Person that supplied or will supply materials or labor in connection with the Replacements performed or to be performed at the Property with respect to the payments or reimbursement to be
funded by the requested disbursement, and (3) stating that each such Person has been or will be paid in full (for all sums then due and payable) upon such disbursement, such Officers’ Certificate to be accompanied by lien waivers or, to
the extent final payment has not been made to a Person, other evidence reasonably satisfactory to Lender that all sums due and payable will be paid, (D) at Lender’s option and if the cost of such Replacements exceeds $250,000, a title
search for the Property indicating that the Property is free from all Liens, claims and other encumbrances not previously approved by Lender and (E) Lender shall have received such other evidence as Lender shall reasonably request that the
Replacements at the Property to be funded by the requested disbursement have been or will be completed and has been or will be paid for upon such disbursement to Borrower. Lender shall not be required to make disbursements from the
Rollover/Replacement Reserve Account with respect to Replacements at the Property unless such requested disbursement is in an amount greater than $5,000 (or a lesser amount if the total amount in the Rollover/Replacement Reserve Account is less than
$5,000, in which case only one disbursement of the amount remaining in the account shall be made). Lender shall not be obligated to make disbursements from the Rollover/Replacement Reserve Account with respect to Replacements at the Property in
excess of the amount deposited by Borrower. Lender shall not be obligated to make disbursements from the Rollover/Replacement Reserve Account to reimburse Borrower for the costs of routine maintenance to the Property. 

(ii) (A) Borrower shall make Replacements when required in order to keep the Property in condition and repair
consistent with similar office buildings in the same market segment in the metropolitan area in which the Property is located, and to keep the Property or any portion thereof from deteriorating. Borrower shall complete all

  
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Replacements in a good and workmanlike manner as soon as practicable following the commencement of making each such Replacement. 

(B) Lender reserves the right, at its option, to approve all contracts or work orders (which approval shall not be
unreasonably withheld, conditioned or delayed) with materialmen, mechanics, suppliers, subcontractors, contractors or other parties providing labor or materials in connection with the Replacements costing, in the aggregate, in excess of
(1) $500,000 or (2) for so long as the Mezzanine Loan D is outstanding, $250,000. Upon Lender’s request, Borrower shall assign any contract or subcontract to Lender. Any approval required of Lender pursuant to this
Section 7.4.2(b) shall be deemed to have been given if Lender shall have failed to notify Borrower of its approval or disapproval within ten (10) Business Days following Lender’s receipt of Borrower’s written request together
with a true, accurate and complete copy of the contract work order in question. In connection with its review of a contract or work order, Lender may request to receive any and all material information and documentation relating thereto reasonably
required by Lender to reach a decision. In order to be effective for the purpose of triggering the ten (10) Business Day time period set forth above, all requests by Borrower for approval pursuant to this Section 7.4.2(b)(ii)(B) must
contain the following in bold, capital letters in the request and on the envelope or wrapper enclosing such request: “THIS IS A REQUEST FOR APPROVAL PURSUANT TO SECTION 7.4.2(b)(ii)(B) OF THE LOAN AGREEMENT AMONG LENDER AND BORROWER. FAILURE
BY LENDER TO RESPOND TO THIS REQUEST WITHIN TEN (10) BUSINESS DAYS OF THE DATE HEREOF SHALL RESULT IN THE APPROVAL OF THE MATTERS REFERRED TO HEREIN.” 

(C) In the event Lender determines in its reasonable discretion that any Replacement is not being performed in a
workmanlike or timely manner or that any Replacement has not been completed in a workmanlike or timely manner, Lender shall have the option without providing any prior notice to Borrower to withhold disbursement for such unsatisfactory Replacement
and, subject to the cure periods set forth in Section 8.1(a)(xxi) hereof, to proceed under existing contracts or to contract with third parties to complete such Replacement and to apply the Rollover/Replacement Reserve Fund toward the labor and
materials necessary to complete such Replacement and to exercise any and all other remedies available to Lender upon an Event of Default hereunder. 
 (D) In order to facilitate Lender’s completion or making of the Replacements pursuant to Section 7.4.2(b)(ii)(C) above, Borrower grants Lender the right to enter onto the Property and perform
any and all work and labor necessary to complete or make the Replacements and/or employ watchmen to protect the Property from damage provided, however, that Lender shall not exercise such right unless an Event of Default has occurred
and is then continuing. All sums so expended by Lender, to the extent not from the Rollover/Replacement Reserve Fund, shall be deemed to have been advanced under the Loan to Borrower and secured by the Security Instrument. For this

  
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purpose Borrower constitutes and appoints Lender its true and lawful attorney in fact with full power of substitution to complete or undertake the Replacements in the name of Borrower. Such power
of attorney shall be deemed to be a power coupled with an interest and cannot be revoked. Borrower empowers said attorney in fact as follows: (1) to use any funds in the Rollover/Replacement Reserve Account for the purpose of making or
completing the Replacements; (2) to make such additions, changes and corrections to the Replacements as shall be necessary or desirable to complete the Replacements; (3) to employ such contractors, subcontractors, agents, architects and
inspectors as shall be required for such purposes; (4) to pay, settle or compromise all existing bills and claims which are or may become Liens against the Property, or as may be necessary or desirable for the completion of the Replacements, or
for clearance of title; (5) to execute all applications and certificates in the name of Borrower which may be required by any of the contract documents; (6) to prosecute and defend all actions or proceedings in connection with the Property
or the rehabilitation and repair of the Property; and (7) to do any and every act which Borrower might do in its own behalf to fulfill the terms of this Agreement. Notwithstanding the foregoing, Lender shall not exercise such power of attorney
unless an Event of Default exists. 
 (E) Nothing in this Section 7.4.2 shall: (1) make Lender responsible
for making or completing the Replacements; (2) require Lender to expend funds in addition to the Rollover/Replacement Reserve Fund to make or complete any Replacement; (3) obligate Lender to proceed with the Replacements; or
(4) obligate Lender to demand from Borrower additional sums to make or complete any Replacement. 
 (F) The
Replacements and all materials, equipment, fixtures, or any other item comprising a part of any Replacement shall be constructed, installed or completed, as applicable, free and clear of all mechanic’s, materialmen’s or other Liens,
subject to Borrower’s right to contest such Liens as set forth in Section 8.1(a)(xiii) hereof. 
 (G)
In addition to any insurance required under the Loan Documents, Borrower shall provide or cause to be provided workmen’s compensation insurance, builder’s risk, and public liability insurance and other insurance to the extent required
under Applicable Law in connection with a particular Replacement. All such policies shall be in form and amount reasonably satisfactory to Lender. All such policies which can be endorsed with standard mortgagee clauses making loss payable to Lender
or its assigns shall be so endorsed. Upon request, certified copies of such policies or certificates evidencing the effectiveness of such policies and the payment of premiums thereunder shall be delivered to Lender. 

(iii) (A) It shall be an Event of Default under this Agreement if Borrower fails to comply with any provision of this
Section 7.4 and such failure is not cured within sixty (60) days after notice from Lender, subject to extension as is reasonably necessary 

  
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for Borrower to exercise due diligence to cure or due to Force Majeure. Upon the occurrence and continuance of an Event of Default, Lender may use the Rollover/Replacement Reserve Fund (or any
portion thereof) for any purpose, including but not limited to completion of the Replacements as provided in Sections 7.4.2(b)(ii)(C) and (D), or for any other repair or replacement to the Property or toward payment of the Debt in such order,
proportion and priority as Lender may determine in its sole discretion. Lender’s right to withdraw and apply the Rollover/Replacement Reserve Funds shall be in addition to all other rights and remedies provided to Lender under this Agreement
and the other Loan Documents. 
 (B) Nothing in this Agreement shall obligate Lender to apply all or any portion
of the Rollover/Replacement Reserve Fund on account of an Event of Default to payment of the Debt or in any specific order or priority. 
 (c) The insufficiency of any balance in the Rollover/Replacement Reserve Account shall not relieve Borrower from its obligation to fulfill all preservation and maintenance covenants in the Loan Documents.

 Section 7.5 Intentionally Omitted. 
 Section 7.6 Intentionally Omitted. 
 Section 7.7 Debt Service
Shortfall Reserve Funds. 
 7.7.1 Deposits into the Debt Service Shortfall Reserve Fund. On the Closing Date,
Borrower shall deposit with Lender an amount equal to $4,900,000.00 to be deposited in the Debt Service Shortfall Reserve Account (the “Debt Service Shortfall Reserve Fund”). Notwithstanding anything to the contrary contained
in this Section 7.7.1, Borrower’s obligation to make any deposits into the Debt Service Shortfall Reserve Fund shall be waived (and if Debt Service Shortfall Reserve Funds are on deposit, Borrower shall be entitled to withdraw the amounts
deposited therein) if Borrower delivers to Lender a Letter of Credit in the face amount of the amount required to be on deposit with Lender in the Debt Service Shortfall Reserve Fund. 

7.7.2 Withdrawals from the Debt Service Shortfall Reserve Fund. Lender shall make disbursements from the Debt Service Shortfall
Reserve Fund from time to time as follows: If, on any Payment Date, the amounts on deposit in the Debt Service Shortfall Reserve Account are not sufficient to pay the amounts payable on any Payment Date pursuant to Section 3.3(a)(iii) and
(vi) of the Cash Management Agreement, then Lender shall, and is hereby irrevocably authorized by Borrower to pay such shortfall (or so much thereof as may be paid from amounts on deposit in the Debt Service Shortfall Reserve Account if the
amount on deposit in the Debt Service Shortfall Reserve Account is less than the amount necessary to pay such shortfall). Except in connection with the exercise of any Extension Option, Borrower shall not have an obligation to replenish amounts on
deposit in the Debt Service Shortfall Reserve Account. 
 Section 7.8 Reserve Funds, Generally. (a) Borrower
grants to Lender a first priority perfected security interest in each of the Reserve Funds and the related Accounts and any and all monies now or hereafter deposited in each Reserve Fund and related Account as

  
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additional security for payment of the Debt. Until expended or applied in accordance herewith, the Reserve Funds and the related Accounts shall constitute additional security for the Debt.

 (b) Upon the occurrence and during the continuance of an Event of Default, Lender shall have no obligation to disburse any
Reserve Funds, and Lender may, in addition to any and all other rights and remedies available to Lender, apply any sums then present in any or all of the Reserve Funds to the payment of the Debt in any order in its sole discretion. Lender shall have
no obligation to advance funds from any particular Account in excess of the amount on deposit in such Account. 
 (c) The
Reserve Funds shall not constitute trust funds and may be commingled with other monies held by Lender. 
 (d) The Reserve Funds
may be invested in Permitted Investments in accordance with, and to the extent permitted by, the Cash Management Agreement, and all earnings or interest on a Reserve Fund shall be added to and become a part of such Reserve Fund and shall be
disbursed in the same manner as other monies deposited in such Reserve Fund. 
 (e) Borrower shall not, without obtaining the
prior written consent of Lender, further pledge, assign or grant any security interest in any Reserve Fund or related Account or the monies deposited therein or permit any lien or encumbrance to attach thereto, or any levy to be made thereon, or any
UCC-1 Financing Statements, except those naming Lender as the secured party, to be filed with respect thereto or any right of the depositary bank or securities intermediary to be paid ordinary fees and charges for such Account, for which there may
be a set-off right. 
 (f) Borrower shall indemnify Lender and hold Lender harmless from and against any and all Losses arising
from or in any way connected with the Reserve Funds or the related Accounts or the performance of the obligations for which the Reserve Funds or the related Accounts were established, except to the extent arising from the gross negligence or willful
misconduct of Lender, its agents or employees. Borrower shall assign to Lender all rights and claims Borrower may have against all Persons supplying labor, materials or other services which are to be paid from or secured by the Reserve Funds or the
related Accounts; provided, however, that Lender may not pursue any such right or claim unless an Event of Default has occurred and remains uncured. 
 Section 7.9 Provisions Regarding Letters of Credit. 
 7.9.1 Letters
of Credit Generally. Borrower shall give Lender no less than thirty (30) days notice of Borrower’s election to deliver a Letter of Credit pursuant to this Article VII. Borrower shall pay to Lender all of Lender’s reasonable
out-of-pocket costs and expenses in connection therewith. Borrower shall not be entitled to draw from any such Letter of Credit. 
 7.9.2 Event of Default. An Event of Default shall occur if Borrower shall have any reimbursement or similar obligation with respect to a Letter of Credit, or if Borrower shall fail to
(i) replace or extend any Letter of Credit prior to the expiration thereof or (ii) replace any outstanding Letter of Credit within thirty (30) days of Lender’s notice that such Letter of Credit fails to meet the requirements set
forth in the definition of Letter of Credit. Lender shall not be 

  
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required to exercise its rights under Section 7.9.3 below in order to prevent any such Event of Default from occurring and shall not be liable for any losses due to the insolvency of the
issuer of the Letter of Credit as a result of any failure or delay by Lender in the exercise of such rights, but if Lender draws on the Letter of Credit and the issuer honors such draw and no Event of Default shall exist, Lender shall deposit the
proceeds of such draw into the Reserve Fund with respect to which such Letter of Credit was originally established. 
 7.9.3
Security for Debt. Each Letter of Credit delivered under this Agreement shall be additional security for the payment of the Debt. Upon the occurrence of an Event of Default, Lender shall have the right, at its option, to draw on any Letter of
Credit and to apply all or any part thereof to the payment of the items for which such Letter of Credit was established or to apply each such Letter of Credit to payment of the Debt in such order, proportion or priority as Lender may determine or to
hold such proceeds as security for the Debt. 
 7.9.4 Additional Rights of Lender. In addition to any other right Lender
may have to draw upon a Letter of Credit pursuant to the terms and conditions of this Agreement, Lender shall have the additional rights to draw in full any Letter of Credit: (a) with respect to any evergreen Letter of Credit, if Lender has
received a notice from the issuing bank that the Letter of Credit will not be renewed and a substitute Letter of Credit is not provided at least thirty (30) days prior to the date on which the outstanding Letter of Credit is scheduled to
expire; (b) with respect to any Letter of Credit with a stated expiration date, if Lender has not received a notice from the issuing bank that it has renewed the Letter of Credit at least thirty (30) days prior to the date on which such
Letter of Credit is scheduled to expire or a substitute Letter of Credit is not provided at least thirty (30) days prior to the date on which the outstanding Letter of Credit is scheduled to expire; or (c) if Lender has received notice
that the bank issuing the Letter of Credit shall cease to be an Eligible Institution and Borrower has not, within thirty (30) days after notice thereof, obtained a new Letter of Credit with an Eligible Institution. 

7.9.5 Reduction of Letter of Credit. In the event that, after the delivery of a Letter of Credit in accordance with the provisions
of this Article VII, Borrower shall incur and pay for from its own funds and not from the Reserve Funds, funds in the Lockbox Account, or other funds sourced from, or otherwise derivative of, the Property, such items that would be eligible for a
disbursement from the applicable Reserve Fund, Borrower may, in lieu of receiving such disbursement, reduce the amount of such Letter of Credit by a corresponding amount. Lender agrees to execute such agreements or amendments reasonably requested by
Borrower in order to appropriately reduce the amount of such Letter of Credit. Borrower shall not be permitted to reduce the Letter of Credit more than one (1) time in any month. 

7.9.6 Limitations on Guaranties and Letters of Credit. Notwithstanding anything to the contrary contained in the foregoing, the
aggregate amount of any Letters of Credit in lieu of Reserve Funds delivered in accordance with the provisions of this Article VII and any guaranties delivered in accordance with the provisions of Section 5.1.20 shall not exceed ten percent
(10%) of the principal amount of the Loan. To the extent that the aggregate amount of deposits that Borrower is obligated to make into the Reserve Funds hereunder exceeds ten percent (10%), Borrower shall deposit such excess amount with Lender
for deposit into the applicable Reserve Fund. 

  
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 ARTICLE VIII 
 DEFAULTS 
 Section 8.1 Event of Default. (a) Each of the
following events shall constitute an event of default hereunder (an “Event of Default”): 

(i) (A) if any payment of principal or interest due pursuant to the Note or the payment due on the Maturity Date is
not paid on or prior to the date when due, and (B) any other portion of the Debt is not paid on or within four (4) business days after the same is due; 

(ii) if any of the Taxes or any Other Charges are not paid on or before the date when the same are due and payable (except
to the extent sums sufficient to pay such Taxes or any Other Charges have been deposited with Lender in accordance with the terms hereof); 
 (iii) if the Policies are not kept in full force and effect and if certified copies of the Policies, or Acord certificates evidencing the procurement of and payment for the Policies, are not delivered to
Lender within five (5) Business Days of Lender’s request; 
 (iv) if Borrower transfers or encumbers
any portion of the Property in violation of the provisions of Section 5.2.10 hereof or Article 7 of the Security Instrument; 
 (v) if any representation or warranty made by Borrower, or any Guarantor herein or in any other Loan Document, or in any report, certificate, financial statement or other instrument, agreement or document
prepared by or on behalf of Borrower, or any Guarantor and furnished to Lender shall have been false or misleading in any material adverse respect, when taken as a whole, as of the date the representation or warranty was made provided,
however, that to the extent that the Person on whose behalf such representation or warranty was made had no actual or constructive knowledge of the falsehood or misleading nature of such representation or warranty when made, and that such
falsehood or misleading nature was undiscoverable through commercially reasonable diligence, then such false or misleading representation or warranty shall constitute an Event of Default only if Borrower or such Person fails to make true and
accurate such representation or warranty (by modifying or correcting the condition underlying such representation or warranty) within ten (10) days after Borrower’s or such Person’s discovery of such underlying condition; 

(vi) if Borrower, Principal, any Guarantor or any other guarantor under any guaranty issued in connection with the Loan
shall make an assignment for the benefit of creditors, unless, in the case of any Guarantor, any Replacement Guarantor has been substituted for such Guarantor in accordance with the terms and provisions of Section 9.6 hereof; 

(vii) if a receiver, liquidator or trustee shall be appointed for Borrower, Principal, any Guarantor or any other
guarantor under any guarantee issued in connection with the Loan or if Borrower, Principal, any Guarantor or such other guarantor shall be 

  
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adjudicated a bankrupt or insolvent, or if any petition for bankruptcy, reorganization or arrangement pursuant to the Bankruptcy Code, or any similar federal or State law, shall be filed by or
against, consented to, or acquiesced in by, Borrower, Principal, any Guarantor or such other guarantor, or if any proceeding for the dissolution or liquidation of Borrower, Principal, any Guarantor or such other guarantor shall be instituted;
provided, however, if such appointment, adjudication, petition or proceeding was involuntary and not consented to by Borrower, Principal, any Guarantor or such other guarantor, upon the same not being discharged, stayed or dismissed or
bonded pending appeal within ninety (90) days, unless, in the case of any Guarantor, any Replacement Guarantor has been substituted for such Guarantor in accordance with the terms and provisions of Section 9.6 hereof; 

(viii) if Borrower attempts to assign its rights under this Agreement or any of the other Loan Documents or any interest
herein or therein in contravention of the Loan Documents; 
 (ix) if Borrower materially breaches any of its
respective negative covenants contained in Section 5.2; 
 (x) if Borrower violates or does not comply with
any provisions of Section 5.1.17 hereof and Borrower fails to remedy such breach within ten (10) Business Days after notice of such breach from Lender; 

(xi) if a default has occurred and continues beyond any applicable cure period under the Management Agreement (or any
Replacement Management Agreement) if such default permits Manager thereunder to terminate or cancel the Management Agreement (or any Replacement Management Agreement); 

(xii) if Borrower or Principal violates or does not comply with any of the provisions of Section 4.1.35 hereof;

 (xiii) if the Property becomes subject to any mechanic’s, materialman’s or other Lien other than a
Lien for local real estate taxes and assessments not then due and payable and the Lien shall remain undischarged of record (by payment, bonding or otherwise) for a period of sixty (60) days, provided, however, after prior written
notice to Lender, Borrower, at its own expense, may contest by appropriate legal proceedings, promptly initiated and conducted in good faith and with due diligence, the amount or validity, in whole or in part, of any mechanic’s liens,
provided that (i) no other Event of Default has occurred and is continuing under the Note, this Agreement or any of the other Loan Documents, (ii) such proceeding shall suspend the collection of the mechanic’s or
materialman’s liens from Borrower and from the Property or Borrower shall have paid all of the mechanic’s or materialman’s liens under protest, (iii) such proceeding shall be permitted under and be conducted in accordance with
the provisions of any other instrument to which Borrower is subject and shall not constitute a default thereunder, (iv) neither the Property nor any part thereof or interest therein will be in danger of being sold, forfeited, terminated,
cancelled or lost, and (v) Borrower shall have deposited with Lender adequate reserves or security for the payment of the mechanic’s or materialman’s 

  
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liens, together with all interest and penalties thereon as determined by Lender in its reasonable discretion; 

(xiv) if any federal tax Lien or state or local income tax Lien is filed against Borrower, Principal, any Guarantor or the
Property and same is not discharged of record within sixty (60) days after same is filed, unless, in the case of any Guarantor, any Replacement Guarantor has been substituted for such Guarantor in accordance with the terms and provisions of
Section 9.6 hereof; 
 (xv) (A) Borrower fails to provide Lender with the written certificate as
provided in (and within the time period required by) Section 5.2.8 hereof and such failure continues for ten (10) days after written notice thereof from Lender, (B) Borrower is a Plan or its assets constitute Plan Assets, or
(C) Borrower consummates a transaction which would cause the Security Instrument or Lender’s exercise of its rights under the Security Instrument, the Note, this Agreement or the other Loan Documents to constitute a nonexempt prohibited
transaction under ERIS A or result in a violation of a State statute regulating investment of, and fiduciary obligations with respect to, governmental plans that is substantially similar to Section 406 of ERISA or Section 4975 of the Code,
which prohibits or otherwise restricts the transactions contemplated by this Agreement, subjecting Lender to liability for a violation of ERISA, the Code or such State statute; 

(xvi) if Borrower shall fail to deliver to Lender, within ten (10) Business Days after request by Lender, the
estoppel certificates required pursuant to the terms of Section 5.1.13(a) hereof (which request by Lender shall be sent after the expiration of any applicable notice and grace periods contained in Section 5.1.13); 

(xvii) if any default occurs under any guaranty or indemnity executed in connection herewith (including, without
limitation, the Guaranty and the Environmental Indemnity) and such default continues after the expiration of applicable grace periods, if any, unless, in the case of any Guarantor, any Replacement Guarantor has been substituted for such Guarantor in
accordance with the terms and provisions of Section 9.6 hereof; 
 (xviii) Intentionally Omitted.

 (xix) Intentionally Omitted. 

(xx) with respect to any term, covenant or provision set forth herein which specifically contains a notice requirement or
grace period, if Borrower shall be in default under such term, covenant or condition after the giving of such notice or the expiration of such grace period; 
 (xxi) if any of the assumptions contained in the Insolvency Opinion, or in any other “non-consolidation” opinion delivered to Lender in connection with the Loan (it being understood that this
provision shall not apply to any “non-consolidation” opinion delivered to Lender in connection with the origination of the Loan following a transfer under Section 5.2.11), or in any other “non-consolidation” opinion
delivered subsequent to the closing of the Loan, is or shall become untrue in any material respect; 

  
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 (xxii) Intentionally Omitted; 

(xxiii) if Borrower shall continue to be in Default under any of the other terms, covenants or conditions of this
Agreement not specified in subsections (i) to (xxii) above or (xxiv) below, for ten (10) days after notice to Borrower from Lender, in the case of any Default which can be cured by the payment of a sum of money, or for thirty
(30) days after notice from Lender in the case of any other Default; provided, however, that if such non monetary Default is susceptible of cure but cannot reasonably be cured within such thirty (30) day period and
provided further that Borrower shall have commenced to cure such Default within such thirty (30) day period and thereafter diligently and expeditiously proceeds to cure the same, such thirty (30) day period shall be extended
for such time as is reasonably necessary for Borrower in the exercise of due diligence to cure such Default, such additional period not to exceed ninety (90) days; or 

(xxiv) if there shall be default under the Security Instrument or any of the other Loan Documents beyond any applicable
notice and cure periods contained in such documents, whether as to Borrower or the Property, or if any other such event shall occur or condition shall exist, if the effect of such event or condition is to accelerate the maturity of any portion of
the Debt or to permit Lender to accelerate the maturity of all or any portion of the Debt. 
 (b) Upon the occurrence and during
the continuance of an Event of Default (other than an Event of Default described in clauses (vi) or (vii) above) and at any time thereafter, in addition to any other rights or remedies available to it pursuant to this Agreement and the
other Loan Documents or at law or in equity, Lender may take such action, without notice or demand, that Lender deems advisable to protect and enforce its rights against Borrower and in and to the Property, including, without limitation, declaring
the Debt to be immediately due and payable, and Lender may enforce or avail itself of any or all rights or remedies provided in the Loan Documents against Borrower and any part of the Property, including, without limitation, all rights or remedies
available at law or in equity; and upon any Event of Default described in clauses (vi) or (vii) above, the Debt and all other obligations of Borrower hereunder and under the other Loan Documents shall immediately and automatically become
due and payable, without notice or demand, and Borrower hereby expressly waives any such notice or demand, anything contained herein or in any other Loan Document to the contrary notwithstanding. 

Section 8.2 Remedies. (a) Upon the occurrence and during the continuance of an Event of Default, all or any one or more
of the rights, powers, privileges and other remedies available to Lender against Borrower under this Agreement or any of the other Loan Documents executed and delivered by, or applicable to, Borrower or at law or in equity may be exercised by Lender
at any time and from time to time, whether or not all or any of the Debt shall be declared due and payable, and whether or not Lender shall have commenced any foreclosure proceeding or other action for the enforcement of its rights and remedies
under any of the Loan Documents with respect to all or any part of the Property or any other Collateral. Any such actions taken by Lender shall be cumulative and concurrent and may be pursued independently, singly, successively, together or
otherwise, at such time and in such order as Lender may determine in its sole discretion, to the fullest extent permitted by Applicable Law, without impairing or 

  
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otherwise affecting the other rights and remedies of Lender permitted by Applicable Law, equity or contract or as set forth herein or in the other Loan Documents. Without limiting the generality
of the foregoing, Borrower agrees that if an Event of Default is continuing (i) Lender is not subject to any “one action” or “election of remedies” law or rule, and (ii) all Liens and other rights, remedies or
privileges provided to Lender shall remain in full force and effect until Lender has exhausted all of its remedies against the Property and the other Collateral and the Security Instrument has been foreclosed, sold and/or otherwise realized upon in
satisfaction of the Debt or the Debt has been paid in full. 
 (b) With respect to Borrower and the Property, nothing contained
herein or in any other Loan Document shall be construed as requiring Lender to resort to any Collateral for the satisfaction of any of the Debt in preference or priority to any other Collateral, and Lender may seek satisfaction out of the Property
or any other Collateral or any part thereof, in its absolute discretion in respect of the Debt. In addition, Lender shall have the right from time to time to partially foreclose the Security Instrument in any manner and for any amounts secured by
the Security Instrument then due and payable as determined by Lender in its sole discretion including, without limitation, the following circumstances: (i) in the event Borrower defaults beyond any applicable grace period in the payment of one
or more scheduled payments of principal and interest, Lender may foreclose the Security Instrument to recover such delinquent payments, or (ii) in the event Lender elects to accelerate less than the entire outstanding principal balance of the
Loan, Lender may foreclose the Security Instrument to recover so much of the principal balance of the Loan as Lender may accelerate and such other sums secured by the Security Instrument as Lender may elect. Notwithstanding one or more partial
foreclosures, the Property shall remain subject to the Security Instrument to secure payment of sums secured by the Security Instrument and not previously recovered. 
 (c) Lender shall have the right, from time to time, to sever the Note and the other Loan Documents into one or more separate notes, deeds of trust, mortgages and other security documents (the
“Severed Loan Documents”) in such denominations as Lender shall determine in its sole discretion for purposes of evidencing and enforcing its rights and remedies provided hereunder. Borrower shall execute and deliver to
Lender from time to time, promptly after the request of Lender, a severance agreement and such other documents as Lender shall request in order to effect the severance described in the preceding sentence, all in form and substance reasonably
satisfactory to Lender. Borrower hereby absolutely and irrevocably appoints Lender as its true and lawful attorney, coupled with an interest, in its name and stead to make and execute all documents necessary or desirable to effect the aforesaid
severance, Borrower ratifying all that its said attorney shall do by virtue thereof; provided, however, Lender shall not make or execute any such documents under such power until three (3) days after notice has been given to
Borrower by Lender of Lender’s intent to exercise its rights under such power. The Severed Loan Documents shall not contain any representations, warranties or covenants not contained in the Loan Documents and any such representations and
warranties contained in the Severed Loan Documents will be given by Borrower only as of the Closing Date. 
 Section 8.3
Remedies Cumulative; Waivers. The rights, powers and remedies of Lender under this Agreement shall be cumulative and not exclusive of any other right, power or remedy which Lender may have against Borrower pursuant to this Agreement or the
other Loan Documents, or existing at law or in equity or otherwise. Lender’s rights, powers and 

  
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remedies may be pursued singularly, concurrently or otherwise, at such time and in such order as Lender may determine in Lender’s sole discretion. No delay or omission to exercise any
remedy, right or power accruing upon an Event of Default shall impair any such remedy, right or power or shall be construed as a waiver thereof, but any such remedy, right or power may be exercised from time to time and as often as may be deemed
expedient. A waiver of one or more Defaults or Events of Default with respect to Borrower shall not be construed to be a waiver of any subsequent Default or Event of Default by Borrower or to impair any remedy, right or power consequent thereon.

 ARTICLE IX 
 SPECIAL PROVISIONS 
 Section 9.1 Sale of Notes and
Securitization. Lender may, at any time, sell, transfer or assign the Note, this Agreement, the Security Instrument and the other Loan Documents, and any or all servicing rights with respect thereto, or grant participations therein or issue
mortgage pass-through certificates or other securities (the “Securities”) evidencing a beneficial interest in a rated or unrated public offering or private placement (a “Securitization”) (such sales,
participations and/or Securitizations, collectively, a “Secondary Market Transaction”). Notwithstanding the foregoing, Lender shall endeavor, but shall have no obligation, to provide Borrower with ten (10) days prior
notice of any Secondary Market Transaction for which Provided Information is, or is expected to be, requested and provide Borrower with the type of Secondary Market Transaction that is occurring, or is expected to occur. At the request of the holder
of the Note and, to the extent not already required to be provided by Borrower under this Agreement, Borrower shall, at such noteholder’s expense to the extent and as set forth in Section 9(g) hereof, use reasonable efforts to provide
information in the possession or control of Borrower and not in possession of Lender or which may reasonably be required to satisfy the market standards to which the holder of the Note customarily adheres or which may be reasonably required in the
marketplace or by the Rating Agencies in connection with a Securitization or the sale of the Note or the participations or Securities, including, without limitation, to: 
 (a) (i) provide such financial and other information with respect to the Property, Borrower, Manager and Guarantor, including but not limited to updated financial and operating statements currently
created during the ordinary course of business, (ii) provide budgets relating to the Property and (iii) to perform or permit or cause to be performed or permitted such site inspection, appraisals, market studies, environmental reviews and
reports (Phase I’s and, if appropriate, Phase II’s), engineering reports and other due diligence investigations of the Property, as may be reasonably requested by the holder of the Note or the Rating Agencies or as may be necessary or
appropriate in connection with the Securitization (the “Provided Information”), together, if customary, with appropriate verification and/or consents of the Provided Information through letters of auditors or opinions of
counsel of independent attorneys reasonably acceptable to Lender and acceptable to the Rating Agencies; 
 (b) if required by
the Rating Agencies, deliver (i) a revised Insolvency Opinion, (ii) revised opinions of counsel as to due execution and enforceability with respect to the Property, Borrower, Guarantor, Principal and their respective Affiliates and the
Loan 

  
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Documents, and (iii) revised Organizational Documents for Borrower, Guarantor, Principal and their respective Affiliates (including, without limitation, such revisions as are necessary to
comply with the provisions of Section 4.1.35 hereof), which counsel, opinions and Organizational Documents shall be reasonably satisfactory to Lender and satisfactory to the Rating Agencies; 

(c) if required by the Rating Agencies, request such additional tenant estoppel letters, subordination agreements or other agreements
from parties to agreements that affect the Property, which estoppel letters, subordination agreements or other agreements shall be reasonably satisfactory to Lender and satisfactory to the Rating Agencies; 

(d) execute such amendments to the Loan Documents and Organizational Documents as may be requested by the holder of the Note or the
Rating Agencies or otherwise to effect the Securitization; provided, however, that Borrower shall not be required to modify or amend any Loan Document if such modification or amendment would (except for modifications and amendments
required to be made pursuant to Section 9.1(e) below) (i) change the interest rate, the stated maturity or the amortization of principal set forth in the Note, (ii) modify or amend any other material economic term of the Loan or
(iii) otherwise increase the obligations or liabilities or decrease the rights of Borrower pursuant to the Loan Documents; 

(e) if Lender elects, in its sole discretion, prior to or upon a Securitization, to split the Loan into two or more parts, or the Note
into multiple component notes or tranches which may have different interest rates, amortization payments, principal amounts and maturities, Borrower agrees to cooperate with Lender in connection with the foregoing and to execute the required
modifications and amendments to the Note, this Agreement and the Loan Documents and to provide opinions necessary to effectuate the same. Such Notes or components may be assigned different interest rates, so long as the initial weighted average of
such interest rates does not exceed the Applicable Interest Rate and the monthly debt service payments do not exceed the Monthly Debt Service Payment Amount; provided, however, that Borrower shall not be required to modify or amend any
Loan Document if such modification or amendment would (except for modifications and amendments described in this Section 9.1(e)) (i) change the interest rate, the stated maturity or the amortization of principal set forth in the Note,
(ii) modify or amend any other material economic term of the Loan or (iii) otherwise increase the obligations or liabilities or decrease the rights of Borrower pursuant to the Loan Documents; and 

(f) make such representations and warranties as of the closing date of the Securitization with respect to the Property, Borrower, and the
Loan Documents as are customarily provided in securitization transactions and as may be reasonably requested by the holder of the Note or the Rating Agencies and consistent with the facts covered by such representations and warranties as they exist
on the date thereof, including the representations and warranties made in the Loan Documents. 
 (g) Lender shall pay for any
third-party costs and expenses incurred by Borrower in connection with Borrower’s complying with the requests made under this Section 9.1, other than Borrower’s legal fees and expenses. Except as otherwise provided in this Article IX,
in no event shall Borrower be obligated to pay for any costs and expenses incurred by Lender or by Borrower, other than Borrower’s legal fees, in connection with a Securitization 

  
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other than any costs and expenses incurred by Lender due to Borrower’s failure to perform or comply with Borrower’s agreements and covenants contained in this Agreement and the other
Loan Documents relating to documents, instruments or other items required to be delivered or produced by Borrower. 

Section 9.2 Securitization Indemnification. (a) Borrower understands that certain of the Provided Information may be
included in disclosure documents in connection with the Securitization, including, without limitation, a prospectus supplement, private placement memorandum, offering circular or other offering document (each a “Disclosure
Document”) and may also be included in filings (an “Exchange Act Filing”) with the Securities and Exchange Commission pursuant to the Securities Act of 1933, as amended (the “Securities
Act”), or the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), or provided or made available to Investors or prospective Investors in the Securities, the Rating Agencies, and service
providers relating to the Securitization. In the event that the Disclosure Document is required to be revised prior to the sale of all Securities, Borrower will cooperate with the holder of the Note in updating the Disclosure Document by providing
all current information necessary to keep the Disclosure Document accurate and complete in all material respects. 
 (b)
Borrower agrees to provide in connection with each of (i) a preliminary and a private placement memorandum or (ii) a preliminary and final prospectus or prospectus supplement, as applicable, or (iii) collateral and structured term
sheets or similar materials, an indemnification certificate (A) certifying that Borrower has carefully examined the relevant portions of such memorandum or prospectus or term sheets, as applicable, which relate to Borrower and its Affiliates or
the Property, including without limitation, the sections entitled “Special Considerations,” “Description of the Mortgages,” “Description of the Mortgage Loans and Mortgaged Property,” and “The Borrower” and
such sections (and any other sections reasonably requested) do not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they
were made, not misleading, (B) indemnifying Lender (and for purposes of this Section 9.2, Lender hereunder shall include its officers and directors), the Affiliate of Morgan Stanley Mortgage Capital Holdings LLC (“Morgan
Stanley”) that has filed the registration statement relating to the Securitization (the “Registration Statement”), each of its directors, each of its officers who have signed the Registration Statement and each
Person who controls the Affiliate within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act (collectively, the “Morgan Stanley Group”), and Morgan Stanley, each of its directors and
each Person who controls Morgan Stanley within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act (collectively, the “Underwriter Group”) for any Losses, claims, damages or
liabilities (collectively, the “Liabilities”) to which Lender, the Morgan Stanley Group or the Underwriter Group may become subject insofar as the Liabilities arise out of or are based upon any untrue statement or alleged
untrue statement of any material fact contained in such sections described in clause (A) above, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated in such sections or
necessary in order to make the statements in such sections or in light of the circumstances under which they were made, not misleading and (C) agreeing to reimburse Lender, the Morgan Stanley Group and the Underwriter Group for any legal or
other expenses reasonably incurred by Lender the Morgan Stanley Group and the Underwriter Group in connection with investigating or defending the Liabilities; provided, however, that Borrower will be liable in any such case

  
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under clauses (B) or (C) above only to the extent that any such Liability arises out of or is based upon any such untrue statement or omission made therein in reliance upon and in
conformity with information furnished to Lender by or on behalf of Borrower in connection with the preparation of the memorandum or prospectus or in connection with the underwriting of the debt, including, without limitation, financial statements of
Borrower, operating statements, rent rolls, environmental site assessment reports and property condition reports with respect to the Property. This indemnification will be in addition to any liability which Borrower may otherwise have. Moreover, the
indemnification provided for in Clauses (B) and (C) above shall be effective whether or not an indemnification certificate described in (A) above is provided and shall be applicable based on information previously provided by Borrower
or its Affiliates if Borrower does not provide the indemnification certificate; provided, however. Borrower shall not be liable in any such case to the extent that any such Liabilities relate solely to errors or omissions contained in
documents prepared by a Person other than Borrower, Principal, Guarantor or any of their Affiliates, unless Borrower knew or should have known about such error or omission. 
 (c) In connection with filings under the Exchange Act, Borrower agrees to indemnify (i) Lender, the Morgan Stanley Group and the Underwriter Group for Liabilities to which Lender, the Morgan Stanley
Group or the Underwriter Group may become subject insofar as the Liabilities arise out of or are based upon the omission or actual omission to state in the Provided Information a material fact required to be stated in the Provided Information in
order to make the statements in the Provided Information, in light of the circumstances under which they were made not misleading and (ii) reimburse Lender, the Morgan Stanley Group or the Underwriter Group for any legal or other expenses
reasonably incurred by Lender, the Morgan Stanley Group or the Underwriter Group in connection with defending or investigating the Liabilities. 
 (d) Promptly after receipt by an indemnified party under this Section 9.2 of notice of the commencement of any action, such indemnified party will, if a claim in respect thereof is to be made against
the indemnifying party under this Section 9.2, notify the indemnifying party in writing of the commencement thereof, but the omission to so notify the indemnifying party will not relieve the indemnifying party from any liability which the
indemnifying party may have to any indemnified party hereunder except to the extent that failure to notify causes prejudice to the indemnifying party. In the event that any action is brought against any indemnified party, and it notifies the
indemnifying party of the commencement thereof, the indemnifying party will be entitled, jointly with any other indemnifying party, to participate therein and, to the extent that it (or they) may elect by written notice delivered to the indemnified
party promptly after receiving the aforesaid notice from such indemnified party, to assume the defense thereof with counsel satisfactory to such indemnified party. After notice from the indemnifying party to such indemnified party under this
Section 9.2 the indemnifying party shall not be responsible for any legal or other expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation; provided,
however, if the defendants in any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there are any legal defenses available to it and/or other indemnified
parties that are different from or additional to those available to the indemnifying party, the indemnified party or parties shall have the right to select separate counsel to assert such legal defenses and to

  
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otherwise participate in the defense of such action on behalf of such indemnified party or parties. The indemnifying party shall not be liable for the expenses of more than one such separate
counsel (in addition to indemnifying party’s own attorneys) regardless of the number of indemnified parties. 
 (e) In
order to provide for just and equitable contribution in circumstances in which the indemnifications provided for in Section 9.2(b) or (c) is or are for any reason held to be unenforceable by an indemnified party in respect of any Liability
(or action in respect thereof) referred to therein which would otherwise be indemnifiable under Section 9.2(b) or (c), the indemnifying party shall contribute to the amount paid or payable by the indemnified party as a result of such Liability
(or action in respect thereof); provided, however, that no Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty
of such fraudulent misrepresentation. In determining the amount of contribution to which the respective parties are entitled, the following factors shall be considered: (i) Morgan Stanley’s and Borrower’s relative knowledge and access
to information concerning the matter with respect to which claim was asserted; (ii) the opportunity to correct and prevent any statement or omission; and (iii) any other equitable considerations appropriate in the circumstances. Lender and
Borrower hereby agree that it would not be equitable if the amount of such contribution were determined solely by pro rata or per capita allocation. 
 (f) The liabilities and obligations of both Borrower and Lender under this Section 9.2 shall survive the termination of this Agreement and the satisfaction and discharge of the Debt. 

Section 9.3 Servicer. At the option of Lender, the Loan may be serviced by a servicer/trustee (the
“Servicer”) selected by Lender, and Lender may delegate all or any portion of its responsibilities under this Agreement and the other Loan Documents to the Servicer pursuant to a servicing agreement (the “Servicing
Agreement”) between Lender and Servicer. Borrower shall not be responsible for any set-up fees or any regular monthly servicing fee due to the Servicer under the Servicing Agreement. 

Section 9.4 Exculpation. (a) Except as otherwise provided herein, in the Security Instrument or in the other Loan
Documents, Lender shall not enforce the liability and obligation of Borrower to perform and observe the obligations contained in this Agreement, the Note, the Security Instrument or the other Loan Documents (other than the Environmental Indemnity
and the Guaranty) by any action or proceeding wherein a money judgment shall be sought against Borrower, except that Lender may bring a foreclosure action, action for specific performance or other appropriate action or proceeding to enable Lender to
enforce and realize upon this Agreement, the Note, the Security Instrument, the other Loan Documents, and the interest in the Property, the Rents and any other collateral given to Lender created by this Agreement, the Note, the Security Instrument
and the other Loan Documents; provided, however, that any judgment in any such action or proceeding shall be enforceable against Borrower only to the extent of Borrower’s interest in the Property, in the Rents and in any other
collateral given to Lender. Lender, by accepting this Agreement, the Note and the Security Instrument, agrees that it shall not, except as otherwise provided in the Security Instrument, sue for, seek or demand any deficiency judgment against
Borrower in any such action or proceeding, 

  
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under or by reason of or under or in connection with this Agreement, the Note, the other Loan Documents or the Security Instrument. The provisions of this Section shall not, however,
(i) constitute a waiver, release or impairment of any obligation evidenced or secured by this Agreement, the Note, the other Loan Documents or the Security Instrument; (ii) impair the right of Lender to name Borrower as a party defendant
in any action or suit for judicial foreclosure and sale under the Security Instrument; (iii) affect the validity or enforceability of any indemnity (including, without limitation, the Environmental Indemnity), guaranty (including, without
limitation, the Guaranty), master lease or similar instrument made in connection with this Agreement, the Note, the Security Instrument, or the other Loan Documents; (iv) impair the right of Lender to obtain the appointment of a receiver;
(v) impair the enforcement of the Assignment of Leases and Rents executed in connection herewith; (vi) impair the right of Lender to enforce the provisions of Sections 9.9 and 10.2 of the Security Instrument (to the extent of
Borrower’s interest in the Property) or Sections 4.1.8, 4.1.28, 5.1.9 and 5.2.8 hereof (to the extent of Borrower’s interest in the Property); or (vii) impair the right of Lender to obtain a deficiency judgment or other judgment on
the Note against Borrower if necessary to obtain any Insurance Proceeds or Awards to which Lender would otherwise be entitled under the Security Instrument; provided however, Lender shall only enforce such judgment to the extent of the
Insurance Proceeds and/or Awards. 
 (b) Notwithstanding the provisions of this Section 9.4 to the contrary, Borrower shall
be personally liable to Lender for the Losses it incurs due to: (i) fraud or intentional misrepresentation by Borrower or its Affiliates in connection with the execution and the delivery of this Agreement, the Note, the Security Instrument or
the other Loan Documents; (ii) Borrower’s misappropriation of Rents received by Borrower during the continuance of an Event of Default; (iii) Borrower’s misappropriation of Security Deposits or Rents collected more than thirty
(30) days in advance; (iv) Borrower’s misappropriation of insurance proceeds or condemnation awards; (v) Borrower’s failure to pay Taxes, Other Charges or Lien Charges (except to the extent that sums sufficient to pay such
amounts have been deposited in escrow or reserved pursuant to the terms of Section 7.2 hereof and except to the extent that such failure to pay such Taxes, Other Charges or Lien Charges is due solely to the failure of the Property to generate
Gross Income from Operations sufficient to pay such Taxes, Other Charges or Lien Charges when due); (vi) Borrower’s failure to return or to reimburse Lender for all material Personal Property taken from the Property by or on behalf of
Borrower and not replaced with Personal Property of the same utility and of the same or greater value (provided the replacement shall not be required if such Personal Property is no longer required for the operation of the Property); (vii) any
act of intentional physical waste or arson by Borrower, or Principal, or any Affiliate thereof or by Guarantor; (viii) any Event of Default under Article 7 of the Security Instrument or any material Event of Default under Sections 4.1.35 (but
excluding Sections 4.1.35(g) and (r) hereof), or in the event of Principal’s material default under Section 4.1.35 (but excluding Sections 4.1.35(g) and (r)) of this Agreement; or (ix) the breach or inaccuracy of any
representation or warranty contained in, or Borrower’s failure to comply with the provisions of, Sections 4.1.39 or 5.1.19 hereof; and (ix) Borrower’s indemnification of Lender set forth in Section 9.2 hereof. 

(c) Notwithstanding the foregoing, the agreement of Lender not to pursue recourse liability as set forth in Subsection (a) above
SHALL BECOME NULL AND VOID and shall be of no further force and effect (i) in the event of the existence of an Event of Default 

  
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under Section 5.2.10 hereof or in the event of an Event of Default under Section 5.2.1 of this Agreement arising out of a voluntary Lien, (ii) Borrower fails to obtain
Lender’s prior consent to any subordinate financing or other voluntary Lien encumbering the Property, (iii) Borrower files a voluntary petition under the Bankruptcy code or any other Federal or state bankruptcy or insolvency law;
(iv) an Affiliate, officer, director, or representative which controls, directly or indirectly, Borrower files, or joins in the filing of, an involuntary petition against Borrower under the Bankruptcy Code or any other Federal or state
bankruptcy or insolvency law, or solicits or causes to be solicited petitioning creditors for any involuntary petition against Borrower from any Person; (v) Borrower files an answer consenting to or otherwise acquiescing in or joining in any
involuntary petition filed against it, by any other Person under the Bankruptcy Code or any other Federal or state bankruptcy or insolvency law, or solicits or causes to be solicited petitioning creditors for any involuntary petition from any
Person; (vi) any Affiliate, officer, director, or representative which controls Borrower consents to or acquiesces in or joins in an application for the appointment of a custodian, receiver, trustee, or examiner for Borrower or any portion of
the Property; or (vii) Borrower makes an assignment for the benefit of creditors, or admits, in writing or in any legal proceeding, its insolvency or inability to pay its debts as they become due. 

(d) Nothing herein shall be deemed to be a waiver of any right which Lender may have under Section 506(a), 506(b), 1111 (b) or
any other provision of the U.S. Bankruptcy Code to file a claim for the full amount of the indebtedness secured by the Security Instrument or to require that all collateral shall continue to secure all of the indebtedness owing to Lender in
accordance with this Agreement, the Note, the Security Instrument and the other Loan Documents. 
 (e) Notwithstanding anything
to the contrary contained in this Agreement the Note, the Security Instrument, or the other Loan Documents, no direct or indirect, parent, shareholder, partner, members, principal, affiliate, employee, officer, director, agent or representative of
Borrower (excluding the Guarantor and Indemnitors in their respective capacities as guarantors/indemnitors under the Loan but including the direct or indirect shareholders, partners, members, principals, affiliates, employees, officers, directors,
agents or representatives of the Guarantor and Indemnitors) (each a “Related Party”) shall have any personal liability for, nor be joined as a party to any action (except as required by any Legal Requirement) with respect to
(i) the payment of any sum of money which is or may be payable hereunder or under the Security Instrument or the other Loan Documents, including, but not limited to, the repayment of the Debt, or (ii) the performance or discharge of any
covenants, obligations or undertakings of Borrower or any Related Party with respect thereto. In addition to the foregoing, anything in the Note, the Security Instrument, this Agreement or the other Loan Documents to the contrary notwithstanding, in
no event will the assets of any Related Party (including any distributions made by Borrower or the Guarantor to their direct or indirect members, partners or shareholders) be available to satisfy any obligation of Borrower in respect of the Debt or
other obligations secured by the Property. 
 Section 9.5 Resizing. Borrower further agrees that if, in connection
with the Securitization or Syndication, it is determined by the Rating Agencies or Lender that a portion of the Securitization would not receive an “investment grade” rating unless the principal amount of the Loan were to be decreased and,
as a result, the principal amount of the Loan is decreased, 

  
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then, at Lender’s sole cost and expense, (i) Borrower shall take all actions as are reasonably necessary to effect the “resizing” of the Mezzanine Loan and the Loan, including
creating one or more additional mezzanine loans secured by the direct or indirect ownership interests in Borrower (collectively, “Resizing Mezzanine Loan”), (ii) Borrower shall exercise commercially reasonable efforts to
cause the Mezzanine Borrower to comply with its agreements to effect a “resizing”, and (iii) Lender shall on the date of the “resizing” of the Loan lend to Mezzanine Borrower or the holder or holders of the direct or
indirect ownership interests of Mezzanine Borrower (collectively, “Resizing Mezzanine Borrower”) such additional amount equal to the amount of the principal reduction of the Loan provided that Borrower and Mezzanine
Borrower execute and deliver any and all reasonably necessary amendments or modifications to the Loan Documents and the Mezzanine Loan Documents and Resizing Mezzanine Borrower executes and delivers any and all reasonably necessary documents to
evidence such Resizing Mezzanine Loans, which documents shall be on substantially the same forms as the Mezzanine Loan Documents with such changes or modifications thereto as the parties may reasonably agree upon. In addition, Borrower and Lender
agree that if, in connection with the Securitization, it is determined by the Rating Agencies or Lender that, if the principal amount of the Mezzanine Loan was decreased and, as a result the principal amount of the Loan was increased, more
“investment grade” rated securities could be issued, then (i) each of them shall take all actions provided for in the documentation for the Loan as are reasonably necessary to effect the “resizing” of the Loan and the
Mezzanine Loan, (ii) Borrower shall exercise commercially reasonable efforts to cause the Mezzanine Borrower to comply with its agreements to effect a “resizing” and (iii) Lender shall on the date of the “resizing” of
the Loan lend to the Borrower (by way of a reallocation of the principal amount of the Loan and the Mezzanine Loan) an additional amount equal to the amount of principal reduction of the Mezzanine Loan, provided that Borrower and Mezzanine
Borrower execute and deliver any and all reasonably necessary modifications to the Loan Documents and Mezzanine Loan Documents, which modifications will be substantially on the same forms as similar transactions between Lender and Affiliates of
Broadway Partners. In connection with the foregoing, Borrower agrees, at Lender’s sole cost and expense other than Borrower’s attorneys’ fees with respect to Lender’s exercise of its rights under this Section 9.5, to execute
and deliver such documents and other agreements reasonably required by Mezzanine Lender and/or Lender to “re-size” the Loan and the Mezzanine Loan, including, without limitation, an amendment to this Agreement, the Note, the Security
Instrument and the other Loan Documents, amendments to, or replacements of, the Interest Rate Cap Agreement modifying the notional amounts to reflect the “re-sized” loan, and, if the principal amount of the Loan is increased an endorsement
to the Title Policy reflecting an increase in the insured amount thereunder, provided, however, that Borrower shall not be required to execute and deliver any documents or agreements which would (i) change the weighted average
interest rate on the then outstanding principal balances of the Note and the Mezzanine Note immediately prior to such resizing, the stated maturity or the amortization of principal set forth in the Note, (ii) modify or amend any other material
or economic term of the Loan in a manner that has a material adverse effect on Borrower, or (iii) materially increase Borrower’s obligations and liabilities under the Loan Documents or materially decrease the rights of Borrower under the
Loan Documents. All costs and expenses incurred by Borrower and Lender in connection with compliance with this Section 9.5 shall be paid by Lender other than Borrower’s legal fees and expenses which shall be paid by Borrower. 

  
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 Section 9.6 Replacement Guarantor. Upon the occurrence of any of the events set
forth in Sections 8.1(a)(vi), (vii), (xiv) or (xvii) hereof, Borrower may cause the applicable Guarantor to be substituted or replaced by a Replacement Guarantor prior to the time that the occurrence of any of the foregoing events becomes
an Event of Default or if the occurrence of any of the foregoing events is an immediate Event of Default, within ten (10) days following such occurrence. Borrower (a) shall deliver or cause to be delivered to Lender, (i) financial
statements or other information reasonably required by Lender with respect to such proposed Replacement Guarantor and (ii) such legal opinions as Lender may reasonably require, including but not limited to an Insolvency Opinion and
(b) shall cause such proposed Replacement Guarantor to assume all of the obligations of the applicable Guarantor under the Guaranty and Environmental Indemnity, in a manner reasonably satisfactory to Lender, including, without limitation, by
entering into an assumption agreement in form and substance satisfactory to Lender. 
 Section 9.7 Syndication.

 9.7.1 Syndication. The provisions of this Section 9.7 shall only apply in the event that the Loan is syndicated
in accordance with the provisions of this Section 9.7 set forth below. 
 9.7.2 Sale of Loan, Co-Lenders, Participations
and Servicing. (a) Lender and any Co-Lender may, at their option, without Borrower’s consent (but with notice to Borrower, which Lender or such Co-Lender shall endeavor (with no obligation to do so) to give to Borrower prior to such
sale), sell with novation all or any part of their right, title and interest in, and to, and under the Loan (the “Syndication”), to one or more additional lenders (each a “Co-Lender”). Each additional
Co-Lender shall enter into an assignment and assumption agreement (the “Assignment and Assumption”) assigning a portion of Lender’s or Co-Lender’s rights and obligations under the Loan, and pursuant to which the
additional Co-Lender accepts such assignment and assumes the assigned obligations. From and after the effective date specified in the Assignment and Assumption (i) each Co-Lender shall be a party hereto and to each Loan Document to the extent
of the applicable percentage or percentages set forth in the Assignment and Assumption and, except as specified otherwise herein, shall succeed to the rights and obligations of Lender and the Co-Lenders hereunder and thereunder in respect of the
Loan, and (ii) Lender, as lender and each Co-Lender, as applicable, shall, to the extent such rights and obligations have been assigned by it pursuant to such Assignment and Assumption, relinquish its rights and be released from its obligations
hereunder and under the Loan Documents. 
 (b) The liabilities of Lender and each of the Co-Lenders shall be several and not
joint, and Lender’s and each Co-Lender’s obligations to Borrower under this Agreement shall be reduced by the amount of each such Assignment and Assumption. Neither Lender nor any Co-Lender shall be responsible for the obligations of any
other Co-Lender. Lender and each Co-Lender shall be liable to Borrower only for their respective proportionate shares of the Loan. If for any reason any of the Co-Lenders shall fail or refuse to abide by their obligations under this Agreement,
Lender and the other Co-Lenders shall not be relieved of their obligations, if any, hereunder; notwithstanding the foregoing, Lender and the Co-Lenders shall have the right, 

  
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but not the obligation, at their sole option, to make the defaulting Co-Lender’s pro rata share of such advance pursuant to the Co-Lending Agreement. 

(c) Borrower agrees that it shall, in connection with any sale of all or any portion of the Loan, whether in whole or to an additional
Co-Lender or Participant, within ten (10) Business Days after requested by Agent, furnish Agent with the certificates required under Sections 5.1.10 and 5.1.13 hereof and such other information as reasonably requested by any additional
Co-Lender or Participant in performing its due diligence in connection with its purchase of an interest in the Loan. Lender shall pay for any third party costs and expenses incurred by Borrower in connection with Borrower’s complying with the
requests made under this Section 9.7 other than Borrower’s legal fees and expenses. 
 (d) Lender (or an Affiliate of
Lender) shall act as administrative agent for itself and the Co-Lenders (together with any successor administrative agent, the “Agent”) pursuant to this Section 9.7. Borrower acknowledges that Lender, as Agent, shall
have the sole and exclusive authority to execute and perform this Agreement and each Loan Document on behalf of itself, as Lender and as agent for itself and the Co-Lenders subject to the terms of the Co-Lending Agreement. Lender acknowledges that
Lender, as Agent, shall retain the exclusive right to grant approvals and give consents with respect to the operating budgets required to be delivered hereunder and with respect to matters concerning the establishment and administration of the
Lockbox Account and the other Reserve Funds. Except as otherwise provided herein, Borrower shall have no obligation to recognize or deal directly with any Co-Lender, and no Co-Lender shall have any right to deal directly with Borrower with respect
to the rights, benefits and obligations of Borrower under this Agreement, the Loan Documents or any one or more documents or instruments in respect thereof. Borrower may rely conclusively on the actions of Lender as Agent to bind Lender and the
Co-Lenders, notwithstanding that the particular action in question may, pursuant to this Agreement or the Co-Lending Agreement be subject to the consent or direction of some or all of the Co-Lenders. Lender may resign as Agent of the Co-Lenders, in
its sole discretion or if required to by the Co-Lenders in accordance with the term of the Co-Lending Agreement, in each case without the consent of Borrower. Upon any such resignation, a successor Agent shall be determined pursuant to the terms of
the Co-Lending Agreement. The term Agent shall mean any successor Agent. 
 (e) Notwithstanding any provision to the contrary in
this Agreement, the Agent shall not have any duties or responsibilities except those expressly set forth herein (and in the Co-Lending Agreement) and no covenants, functions, responsibilities, duties, obligations or liabilities of Agent shall be
implied by or inferred from this Agreement, the Co-Lending Agreement, or any other Loan Document, or otherwise exist against Agent. 
 (f) Except to the extent its obligations hereunder and its interest in the Loan have been assigned pursuant to one or more Assignments and Assumption, Lender, as Agent, shall have the same rights and
powers under this Agreement as any other Co-Lender and may exercise the same as though it were not Agent, respectively. The term “Co-Lender” or “Co-Lenders” shall, unless otherwise expressly indicated,
include Lender in its individual capacity. Lender and the other Co-Lenders and their respective Affiliates may accept deposits from, lend money to, act as trustee under indentures of, and generally engage in any kind of business with, Borrower, or
any Affiliate of Borrower and any Person who may do business with 

  
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or own securities of Borrower or any Affiliate of Borrower, all as if they were not serving in such capacities hereunder and without any duty to account therefor to each other. 

(g) If required by any Co-Lender, Borrower hereby agrees to execute supplemental notes in the principal amount of such Co-Lender’s
pro rata share of the Loan substantially in the form of the Note, provided any such supplemental note does not represent any new indebtedness and a copy of the existing Note is returned to Borrower with a notation reflecting that such
supplemental note has been issued, and such supplemental note shall (i) be payable to order of such Co-Lender, (ii) be dated as of the Closing Date, and (iii) mature on the Maturity Date. Such supplemental note shall provide that it
evidences a portion of the existing indebtedness hereunder and under the Note and not any new or additional indebtedness of Borrower. The term “Note” as used in this Agreement and in all the other Loan Documents shall include all such
supplemental notes. Such supplemental notes shall not increase any obligations or liabilities, or decrease any rights, of Borrower under the Loan Documents. 
 (h) Lender, as Agent, shall maintain at its domestic lending office or at such other location as Lender, as Agent, shall designate in writing to each Co-Lender and Borrower a copy of each Assignment and
Assumption delivered to and accepted by it and a register for the recordation of the names and addresses of the Co-Lenders, the amount of each Co-Lender’s proportionate share of the Loan and the name and address of each Co-Lender’s agent
for service of process (the “Register”). The entries in the Register shall be conclusive and binding for all purposes, absent manifest error, and Borrower, Lender, as Agent, and the Co-Lenders may treat each Person whose name
is recorded in the Register as a Co-Lender hereunder for all purposes of this Agreement. The Register shall be available for inspection and copying by Borrower or any Co-Lender during normal business hours upon reasonable prior notice to the Agent.
A Co-Lender may change its address and its agent for service of process upon written notice to Lender, as Agent, which notice shall only be effective upon actual receipt by Lender, as Agent, which receipt will be acknowledged by Lender, as Agent,
upon request. 
 (i) Notwithstanding anything herein to the contrary, any financial institution or other entity may be sold a
participation interest in the Loan by Lender or any Co-Lender without Borrower’s consent (such financial institution or entity, a “Participant”) (x) if such sale is without novation and (y) if the other
conditions set forth in this paragraph are met. No Participant shall be considered a Co-Lender hereunder or under the Note or the Loan Documents. No Participant shall have any rights under this Agreement, the Note or any of the Loan Documents and
the Participant’s rights in respect of such participation shall be solely against Lender or Co-Lender, as the case may be, as set forth in the participation agreement executed by and between Lender or Co-Lender, as the case may be, and such
Participant. No participation shall relieve Lender or Co-Lender, as the case may be, from its obligations hereunder or under the Note or the Loan Documents and Lender or Co-Lender, as the case may be, shall remain solely responsible for the
performance of its obligations hereunder. A Participant shall not be entitled to receive any greater payment under Sections 2.2.3 and 2.2.8 than the Lender or Co-Lender, as applicable, would have been entitled to receive with respect to the
participation interest sold to such Participant, unless the sale of the participation interest to such Participant is made with Borrower’s prior written consent. A Participant would not be entitled to the benefits of Section 2.2.8 unless
Borrower is notified of the participation interest sold to such Participant 

  
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and such Participant agrees, for the benefit of Borrower, to comply with Section 2.2.8 as though it were a Lender or a Co-Lender. 

(j) Notwithstanding any other provision set forth in this Agreement, Lender or any Co-Lender may at any time create a security interest
in all or any portion of its rights under this Agreement (including, without limitation, amounts owing to it in favor of any Federal Reserve Bank in accordance with Regulation A of the Board of Governors of the Federal Reserve System),
provided that no such security interest or the exercise by the secured party of any of its rights thereunder shall release Lender or Co-Lender from its funding obligations hereunder. 

ARTICLE X 

MISCELLANEOUS 
 Section 10.1 Survival. This Agreement and all covenants, agreements, representations and warranties made herein and in the certificates delivered pursuant hereto shall survive the making by
Lender of the Loan and the execution and delivery to Lender of the Note, and shall continue in full force and effect so long as all or any of the Debt is outstanding and unpaid unless a longer period is expressly set forth herein or in the other
Loan Documents. Whenever in this Agreement any of the parties hereto is referred to, such reference shall be deemed to include the successors and assigns of such party. All covenants, promises and agreements in this Agreement, by or on behalf of
Borrower, shall inure to the benefit of the successors and assigns of Lender. 
 Section 10.2 Lender’s
Discretion. Whenever pursuant to this Agreement, Lender exercises any right given to it to approve or disapprove, or any arrangement or term is to be satisfactory to Lender, the decision of Lender to approve or disapprove or to decide whether
arrangements or terms are satisfactory or not satisfactory shall (except as is otherwise specifically herein provided) be in the sole discretion of Lender and shall be final and conclusive. 

Section 10.3 Governing Law. (a) THIS AGREEMENT SHALL BE DEEMED TO BE A CONTRACT ENTERED INTO PURSUANT TO THE LAWS OF THE
STATE OF NEW YORK AND SHALL IN ALL RESPECTS BE GOVERNED, CONSTRUED, APPLIED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS), PROVIDED HOWEVER, THAT WITH RESPECT TO
THE CREATION, PERFECTION, PRIORITY AND ENFORCEMENT OF THE LIENS AND SECURITY INTERESTS CREATED BY THIS AGREEMENT, THE SECURITY INSTRUMENT AND THE OTHER LOAN DOCUMENTS, AND THE DETERMINATION OF DEFICIENCY JUDGMENTS, THE LAWS OF THE STATE WHERE THE
PROPERTY IS LOCATED SHALL APPLY EXCEPT AS OTHERWISE PROVIDED IN THE APPLICABLE UNIFORM COMMERCIAL CODE. 
 (b) WITH RESPECT TO
ANY CLAIM OR ACTION ARISING HEREUNDER OR UNDER THIS AGREEMENT, THE NOTE, OR THE OTHER LOAN DOCUMENTS, BORROWER (A) IRREVOCABLY SUBMITS TO THE NONEXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK AND THE UNITED

  
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STATES DISTRICT COURT LOCATED IN THE BOROUGH OF MANHATTAN IN NEW YORK, NEW YORK, AND APPELLATE COURTS FROM ANY THEREOF, AND (B) IRREVOCABLY WAIVES ANY OBJECTION WHICH IT MAY HAVE AT ANY TIME
TO THE LAYING ON VENUE OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE NOTE OR THE OTHER LOAN DOCUMENTS BROUGHT IN ANY SUCH COURT, IRREVOCABLY WAIVES ANY CLAIM THAT ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN
ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. NOTHING IN THIS AGREEMENT, THE NOTE OR THE OTHER LOAN DOCUMENTS INSTRUMENT WILL BE DEEMED TO PRECLUDE LENDER FROM BRINGING AN ACTION OR PROCEEDING WITH RESPECT HERETO IN ANY OTHER
JURISDICTION. 
 Section 10.4 Modification, Waiver in Writing. No modification, amendment, extension, discharge,
termination or waiver of any provision of this Agreement, the Note, or of any other Loan Document, nor consent to any departure by Borrower therefrom, shall in any event be effective unless the same shall be in a writing signed by the party against
whom enforcement is sought, and then such waiver or consent shall be effective only in the specific instance, and for the purpose, for which given. Except as otherwise expressly provided herein, no notice to, or demand on Borrower, shall entitle
Borrower to any other or future notice or demand in the same, similar or other circumstances. 
 Section 10.5 Delay Not
a Waiver. Neither any failure nor any delay on the part of Lender in insisting upon strict performance of any term, condition, covenant or agreement, or exercising any right, power, remedy or privilege hereunder, or under the Note or under any
other Loan Document, or any other instrument given as security therefor, shall operate as or constitute a waiver thereof, nor shall a single or partial exercise thereof preclude any other future exercise, or the exercise of any other right, power,
remedy or privilege. In particular, and not by way of limitation, by accepting payment after the due date of any amount payable under this Agreement, the Note or any other Loan Document, Lender shall not be deemed to have waived any right either to
require prompt payment when due of all other amounts due under this Agreement, the Note or the other Loan Documents, or to declare a default for failure to effect prompt payment of any such other amount. 

Section 10.6 Notices. All notices or other written communications hereunder shall be deemed to have been properly given
(i) upon delivery, if delivered in person or by facsimile transmission with receipt acknowledged by the recipient thereof and confirmed by telephone by sender, (ii) one (1) Business Day 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 as follows: 

  
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 If to Borrower: 
 Addressed to Borrower 
 c/o Broadway Partners 

375 Park Avenue, Suite 2107 
 New York, New York 10152 
 Attention:       Jason P.
Semmel, Esq. (Fax No. (212) 658-9379) and 
     Alan Rubenstein ((Fax No. (646) 224-8145),

     by separate notice to each 
 With a copy to: 
 Seyfarth Shaw LLP 

1270 Avenue of the Americas 
 New York, New York 10020 
 Attention:       Stephen
Epstein, Esq. 
 Facsimile:      (212) 218-5526 

After July 30, 2007: 
 620 Eighth Avenue 
 New York, New York 10018 

And a copy to: 

Broadway Real Estate Services, LLC 
 One Penn Plaza, Suite 3915 
 New York, New York 10119 

Attention:       Renee Regensberg 
 Facsimile:      (646) 514-7470 
 If to Lender:

 Morgan Stanley Mortgage Capital Holdings, LLC 
 1221 Avenue of the Americas 
 New York, New York 10020 

Attention:       James Flaum & Kevin Swartz 

Facsimile:      (212) 507-4139/4146 

With a copy to: 

Cadwalader Wickersham & Taft LLP 
 One World Financial Center 
 New York, New York 10281 

Attention:       John M. Zizzo, Esq. 

Facsimile:      (212) 504-6666 

  
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 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.

 Section 10.7 Trial by Jury. BORROWER AND LENDER HEREBY AGREE NOT TO ELECT A TRIAL BY JURY OF ANY ISSUE TRIABLE OF
RIGHT BY JURY, AND WAIVE ANY RIGHT TO TRIAL BY JURY FULLY TO THE EXTENT THAT ANY SUCH RIGHT SHALL NOW OR HEREAFTER EXIST WITH REGARD TO THE LOAN DOCUMENTS, OR ANY CLAIM, COUNTERCLAIM OR OTHER ACTION ARISING IN CONNECTION THEREWITH. THIS WAIVER OF
RIGHT TO TRIAL BY JURY IS GIVEN KNOWINGLY AND VOLUNTARILY BY BORROWER AND LENDER, AND IS INTENDED TO ENCOMPASS INDIVIDUALLY EACH INSTANCE AND EACH ISSUE AS TO WHICH THE RIGHT TO A TRIAL BY JURY WOULD OTHERWISE ACCRUE. LENDER AND BORROWER ARE HEREBY
AUTHORIZED TO FILE A COPY OF THIS PARAGRAPH IN ANY PROCEEDING AS CONCLUSIVE EVIDENCE OF THIS WAIVER BY BORROWER. 

Section 10.8 Headings. The Article and/or Section headings and the Table of Contents in this Agreement are included herein
for convenience of reference only and shall not constitute a part of this Agreement for any other purpose. 
 Section 10.9
Severability. Wherever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under Applicable Law, but if any provision of this Agreement shall be prohibited by or invalid under Applicable
Law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement. 

Section 10.10 Preferences. In the event any payment by Borrower to Lender is deemed, or would be deemed, usurious, Lender
shall have the continuing and exclusive right to apply or reverse and reapply any and all payments by Borrower to any portion of the obligations of Borrower hereunder. To the extent Borrower makes a payment or payments to Lender, which payment or
proceeds or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid to a trustee, receiver or any other party under any bankruptcy law, State or federal law, common law or
equitable cause, then, to the extent of such payment or proceeds received, the obligations hereunder or part thereof intended to be satisfied shall be revived and continue in full force and effect, as if such payment or proceeds had not been
received by Lender. 
 Section 10.11 Waiver of Notice. Borrower shall not be entitled to any notices of any nature
whatsoever from Lender except with respect to matters for which this Agreement or the other Loan Documents specifically and expressly provide for the giving of notice by Lender to Borrower and except with respect to matters for which Borrower is
not, pursuant to applicable Legal Requirements, permitted to waive the giving of notice. Borrower hereby expressly waives the right to receive any notice from Lender with respect to any matter for which this Agreement or the other Loan Documents do
not specifically and expressly provide for the giving of notice by Lender to Borrower. 

  
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 Section 10.12 Remedies of Borrower. In the event that a claim or adjudication is
made that Lender or its agents have acted unreasonably or unreasonably delayed acting in any case where by law or under this Agreement or the other Loan Documents, Lender or such agent, as the case may be, has an obligation to act reasonably or
promptly, Borrower agrees that neither Lender nor its agents shall be liable for any monetary damages, and Borrower’s sole remedies shall be limited to commencing an action seeking injunctive relief or declaratory judgment. The parties hereto
agree that any action or proceeding to determine whether Lender has acted reasonably shall be determined by an action seeking declaratory judgment. 
 Section 10.13 Expenses; Indemnity. (a) Borrower covenants and agrees to pay or, if Borrower fails to pay, to reimburse, Lender within five (5) days of receipt of written notice from
Lender for all reasonable out of pocket costs and expenses (including reasonable attorneys’ fees and disbursements) actually incurred by Lender in connection with (i) the preparation, negotiation, execution and delivery of this Agreement
and the other Loan Documents and the consummation of the transactions contemplated hereby and thereby and all the costs of furnishing all opinions by counsel for Borrower as more particularly set forth in the closing statement prepared in connection
with the closing of the Loan; (ii) Borrower’s ongoing performance of and compliance with Borrower’s respective agreements and covenants contained in this Agreement and the other Loan Documents on its part to be performed or complied
with after the Closing Date; (iii) intentionally deleted; (iv) the negotiation, preparation, execution, delivery and administration of any consents, amendments, waivers or other modifications to this Agreement and the other Loan Documents
and any other documents or matters requested by Borrower; (v) securing Borrower’s compliance with any requests made pursuant to the provisions of this Agreement; (vi) the filing and recording fees and expenses, title insurance and
reasonable fees and expenses of counsel incurred in creating and perfecting the Liens in favor of Lender pursuant to this Agreement and the other Loan Documents; (vii) enforcing or preserving any rights, in response to third party claims or the
prosecuting or defending of any action or proceeding or other litigation, in each case against, under or affecting Borrower, this Agreement, the other Loan Documents, the Property or any other security given for the Loan; and (viii) enforcing
any obligations of or collecting any payments due from Borrower under this Agreement, the other Loan Documents or in connection with any refinancing or restructuring of the credit arrangements provided under this Agreement in the nature of a
“work out” or of any insolvency or bankruptcy proceedings; provided, however, that Borrower shall not be liable for the payment of any such costs and expenses to the extent the same arise by reason of the gross negligence,
illegal acts, fraud or willful misconduct of Lender. Any cost and expenses due and payable to Lender may be paid from any amounts in the Lockbox Account. 
 (b) Intentionally deleted. 
 (c) Borrower shall, at its sole cost and expense,
protect, defend, indemnify, release and hold harmless Lender and the Indemnified Parties from and against any and all Losses (including, without limitation, reasonable attorneys’ fees and costs incurred in the investigation, defense, and
settlement of Losses incurred in correcting any prohibited transaction or in the sale of a prohibited loan, and in obtaining any individual prohibited transaction exemption under ERISA, the Code, any state statute or other similar law that may be
required, in Lender’s sole discretion) that Lender may incur, directly or indirectly, as a result of a default under Sections 4.1.8 or 5.2.8 hereof. 

  
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 (d) Borrower covenants and agrees to pay for or, if Borrower fails to pay, to reimburse
Lender for any reasonable out of pocket fees and expenses actually incurred by any Rating Agency in connection with any consent, approval, waiver or confirmation obtained from such Rating Agency pursuant to the terms and conditions of this Agreement
or any other Loan Document after a Securitization has occurred, and Lender shall be entitled to require payment of such fees and expenses as a condition precedent to the obtaining of any such consent, approval, waiver or confirmation. 

Section 10.14 Schedules and Exhibits Incorporated. The Schedules and Exhibits annexed hereto are hereby incorporated herein
as a part of this Agreement with the same effect as if set forth in the body hereof. 
 Section 10.15 Offsets,
Counterclaims and Defenses. Any assignee of Lender’s interest in and to this Agreement, the Note and the other Loan Documents shall take the same free and clear of all offsets, counterclaims or defenses which are unrelated to such documents
which Borrower may otherwise have against any assignor of such documents, and no such unrelated counterclaim or defense shall be interposed or asserted by Borrower in any action or proceeding brought by any such assignee upon such documents and any
such right to interpose or assert any such unrelated offset, counterclaim or defense in any such action or proceeding is hereby expressly waived by Borrower. 
 Section 10.16 No Joint Venture or Partnership; No Third Party Beneficiaries. (a) Borrower and Lender intend that the relationships created hereunder and under the other Loan Documents be
solely that of borrower and lender. Nothing herein or therein is intended to create a joint venture, partnership, tenancy in common, or joint tenancy relationship between Borrower and Lender nor to grant Lender any interest in the Property other
than that of mortgagee, beneficiary or lender. 
 (b) This Agreement and the other Loan Documents are solely for the benefit of
Lender and Borrower and nothing contained in this Agreement or the other Loan Documents shall be deemed to confer upon anyone other than Lender and Borrower any right to insist upon or to enforce the performance or observance of any of the
obligations contained herein or therein. All conditions to the obligations of Lender to make the Loan hereunder are imposed solely and exclusively for the benefit of Lender and no other Person shall have standing to require satisfaction of such
conditions in accordance with their terms or be entitled to assume that Lender will refuse to make the Loan in the absence of strict compliance with any or all thereof and no other Person shall under any circumstances be deemed to be a beneficiary
of such conditions, any or all of which may be freely waived in whole or in part by Lender if, in Lender’s sole discretion, Lender deems it advisable or desirable to do so. 

Section 10.17 Publicity. All news releases, publicity or advertising by Borrower or their Affiliates through any media
intended to reach the general public which refers to the Loan Documents or the financing evidenced by the Loan Documents, to Lender, Morgan Stanley, or any of their Affiliates shall be subject to the prior written approval of Lender, which shall not
be unreasonably withheld. Notwithstanding the foregoing, disclosure required by any federal or State securities laws, rules or regulations, as determined by Borrower’s counsel, shall not be subject to the prior written approval of Lender.

  
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 Section 10.18 Waiver of Marshalling of Assets. To the fullest extent permitted
by Applicable Law, Borrower, for itself and its successors and assigns, waives all rights to a marshalling of the assets of Borrower, Borrower’s partners and others with interests in Borrower, and of the Property, or to a sale in inverse order
of alienation in the event of foreclosure of all or part of the Security Instrument, and agrees not to assert any right under any laws pertaining to the marshalling of assets, the sale in inverse order of alienation, homestead exemption, the
administration of estates of decedents, or any other matters whatsoever to defeat, reduce or affect the right of Lender under the Loan Documents to a sale of the Property for the collection of the Debt without any prior or different resort for
collection or of the right of Lender to the payment of the Debt out of the net proceeds of the Property in preference to every other claimant whatsoever. 
 Section 10.19 Waiver of Counterclaim. Borrower hereby waives the right to assert a counterclaim, other than a compulsory counterclaim, in any action or proceeding brought against it by Lender
or its agents. 
 Section 10.20 Conflict; Construction of Documents; Reliance. In the event of any conflict between
the provisions of this Agreement and any of the other Loan Documents, the provisions of this Agreement shall control. The parties hereto acknowledge that they were represented by competent counsel in connection with the negotiation, drafting and
execution of the Loan Documents and that such Loan Documents shall not be subject to the principle of construing their meaning against the party which drafted same. Borrower acknowledges that, with respect to the Loan, Borrower shall rely solely on
its own judgment and advisors in entering into the Loan without relying in any manner on any statements, representations or recommendations of Lender or any parent, subsidiary or Affiliate of Lender. Lender shall not be subject to any limitation
whatsoever in the exercise of any rights or remedies available to it under any of the Loan Documents or any other agreements or instruments which govern the Loan by virtue of the ownership by it or any parent, subsidiary or Affiliate of Lender of
any equity interest any of them may acquire in Borrower, and Borrower hereby irrevocably waives the right to raise any defense or take any action on the basis of the foregoing with respect to Lender’s exercise of any such rights or remedies.
Borrower acknowledges that Lender engages in the business of real estate financings and other real estate transactions and investments which may be viewed as adverse to or competitive with the business of Borrower or its Affiliates. 

Section 10.21 Brokers and Financial Advisors. Borrower hereby represents that it has dealt with no financial advisors,
brokers, underwriters, placement agents, agents or finders other than Eastdil Secured L.L.C. (“Eastdil”) in connection with the transactions contemplated by this Agreement. Borrower hereby agrees to indemnify, defend and hold Lender
harmless from and against any and all claims, liabilities, costs and expenses of any kind (including Lender’s attorneys’ fees and expenses) in any way relating to or arising from a claim by any Person (including, without limitation,
Eastdil) that such Person acted on behalf of Borrower or Lender in connection with the transactions contemplated herein. Lender hereby represents that it has dealt with no financial advisors, brokers, underwriters, placement agents, agents or
finders in connection with the transactions contemplated by this Agreement. Borrower shall be liable to pay all fees and commissions owed to Eastdil in connection with the Loan. The provisions of this Section 10.21 shall survive the expiration
and termination of this Agreement and the payment of the Debt. 

  
 -124-

 Section 10.22 Prior Agreements. This Agreement and the other Loan Documents
contain the entire agreement of the parties hereto and thereto in respect of the transactions contemplated hereby and thereby, and all prior agreements among or between such parties, whether oral or written, between Borrower and/or its Affiliates
and Lender are superseded by the terms of this Agreement and the other Loan Documents. 
 Section 10.23
Counterparts. Duplicate counterparts of any of the Loan Documents, other than the Note, may be executed and together will constitute a single instrument. 
 [NO FURTHER TEXT ON THIS PAGE] 

  
 -125-

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by
their duly authorized representatives, all as of the day and year first above written. 
  

					
	BORROWER:
	
	BROADWAY 500 WEST MONROE FEE LLC,
a Delaware limited liability company
		
	BY:	 	/s/ Illegible
		 	Name:	 	
		 	Title:	 	

 
					
	LENDER:
	
	MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS LLC, a New York limited liability company
		
	By:	 	/s/ Jonathan L. Frey
		 	Name:	 	Jonathan L. Frey
		 	Title:	 	Vice President

 SCHEDULE I 
 Rent Roll / Leases 
 (see attached) 

  
 SCH. I-1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 SCHEDULE II 
 [Reserved] 
 (Attached) 

  
 SCH. II-1

 SCHEDULE III 
 Required Repairs 

  
 SCH. III-l

 SCHEDULE IV 
 Organizational Chart of Borrower 
 (see attached) 

  
 SCH. IV-1

 500 West Monroe Ownership Structure Chart 

(Draft June 20, 2007)  

 

 

 Dated as of June 19, 2007 

Broadway Partners Value-Added Fund III 
 Structure Chart 

 

 

 SCHEDULE V 
 Forms of Certificates for Financial Reporting 

  
 SCH. V-l

 SCHEDULE V-A 
 Form of Certificate with respect to Annual and Quarterly Financials 

  
 SCH. V-A-l

 [Mortgage] 
 SCHEDULE V-A 
 CERTIFICATE WITH RESPECT TO ANNUAL AND QUARTERLY FINANCIALS

 This Certificate with Respect to Annual or Quarterly Financials (this “Certificate”) dated
                     , 20     is given to Morgan Stanley Mortgage Capital Holdings LLC (together with its successors
and assigns, “Lender”) by Broadway 500 West Monroe Fee LLC (“Borrower”) in connection with that certain Loan Agreement between Lender and Borrower dated July 11, 2007 (the “Loan Agreement”). The capitalized terms
not defined in this Certificate shall have the definitions ascribed to them in the Loan Agreement. 
 Borrower hereby certifies to Lender as
follows: 
  

	1.	To the best of Borrower’s knowledge: 

 (a) The attached financial statement presents fairly the financial condition and the results of operations of Borrower and the Property being reported upon and has been prepared in accordance with
[GAAP/another accounting basis]. 
 (b) as of the date hereof [select one of the following options]: 

             there exists no Event of Default under the Loan Documents
executed and delivered by, or applicable to, Borrower, 

             there exists an Event of Default under the Loan Documents
executed and delivered by, or applicable to, Borrower, described as follows: [Describe the nature of the Event of Default, the period of time it has existed and the action being taken as of the date hereof to remedy same.] 

 

					
	BORROWER:
	
	BROADWAY 500 WEST MONROE FEE LLC,
	    a Delaware limited liability company
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	Authorized Signatory

 SCHEDULE V-B 
 Form of Certificate with respect to Monthly Financials 

  
 SCH. V-B-l

 SCHEDULE V-B 
 CERTIFICATE WITH RESPECT TO MONTHLY FINANCIALS 
 This Certificate with Respect to
Monthly Financials (this “Certificate”) dated                    , 20     is given to Morgan Stanley
Mortgage Capital Holdings LLC (together with its successors and assigns, “Lender”) by Broadway 500 West Monroe Fee LLC (“Borrower”) in connection with that certain Loan Agreement between Lender and Borrower dated July 11,
2007 (the “Loan Agreement”). The capitalized terms not defined in this Certificate shall have the definitions ascribed to them in the Loan Agreement. 
 Borrower hereby certifies to Lender that the information contained in (a) the rent roll attached hereto as Exhibit V-B-l and (b) to the best of Borrower’s knowledge, the Net Cash Flow
Schedule attached hereto as Exhibit V-B-2 is true, correct, accurate and complete and that the attached Net Cash Flow Schedule fairly presents the financial condition and results of the operations of Borrower and the Property (subject to normal
year-end adjustments). 
  

					
	BORROWER:
	
	BROADWAY 500 WEST MONROE FEE LLC,
	    a Delaware limited liability company
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	Authorized Signatory

 SCHEDULE VI 
 Litigation 

  
 SCH. VI-1

 SCHEDULE VII 
 Intentionally Deleted 

  
 SCH. VII-1

 SCHEDULE VIII 
 Intentionally Deleted 

  
 SCH. VIII-1

 SCHEDULE IX 
 Standard Form of Lease 
 (Attached) 

  
 SCH. IX-1

 SCHEDULE X 
 Form of Draw Request 

  
 SCH. X-l

 [Mortgage] 
 SCHEDULE X 
 DRAW REQUEST 
 The undersigned, pursuant to that certain Loan Agreement dated July 11, 2007 between Morgan Stanley Mortgage Capital Holdings LLC (together with its successors and assigns, “Lender”) and
Broadway 500 West Monroe Fee LLC (“Borrower”) (the “Loan Agreement”) hereby requests a disbursement in the amount of $             from the Rollover/Replacement
Reserve Fund. 
 The capitalized terms not defined herein shall have the definitions ascribed to them in the Loan Agreement.

 Date:
                    , 20     

 

					
	BORROWER:
	
	BROADWAY 500 WEST MONROE FEE LLC,
	     a Delaware limited liability company
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	Authorized Signatory

 [Mortgage] 
 OFFICER’S CERTIFICATE 
 WITH RESPECT TO LEASING EXPENSES 

FROM THE ROLLOVER/REPLACEMENT RESERVE FUND 
 (to be attached) 

 SCHEDULE XI 
 Tenant Direction Letter 

                    
    , 2007 

                         
                    CERTIFIED MAIL, 

                         
                    RETURN RECEIPT REQUESTED 

                         
            
  

	 	Re:	[                           
 ] 

	 	    	[                           
     ] 

 Dear Tenant: 
 This letter shall constitute notice to you that the undersigned has granted a security interest in the captioned lease and all rents, additional rent and all other monetary obligations to landlord
thereunder (collectively, “Rent”) in favor of Morgan Stanley Mortgage Capital Holdings LLC, as lender (“Lender”), to secure certain of the undersigned’s obligations to Lender. The undersigned
hereby irrevocably instructs and authorizes you to disregard any and all previous notices sent to you in connection with instructions for the payment of Rent and hereafter to deliver all Rent to the following address: 

[                      
      ] 
 Lockbox Account 

[                      
      ] 

[                      
      ] 
 or by wire transfer to: 

Key Bank 
 ABA
No.: [                            ] 

Account No.:
[                            ] 

Account Name:
[                            ] 

These payment instructions cannot be withdrawn or modified without the prior written consent of Lender or its agent
(“Servicer”), or pursuant to a joint written instruction from Borrower and Lender or Servicer. Until you receive written instructions from Lender or Servicer, continue to send all rent payments due under the Lease to
[                            ]. All rent payments must be delivered to
[                            ] no later than the day on which such amounts are due under the Lease.

 If you have any questions concerning this letter, please contact Bill Culkin of Borrower at (212) 319-7100 x18 or
                     of Lender at (    )
             or              of Servicer
at                    . 
 We appreciate your cooperation in this matter. We look forward to working with you in the operation of this Property. 

  
 SCH XI-1

 [SEE SIGNATURES ON THE FOLLOWING PAGES] 

  
 SCH XI-2

 
					
	Very truly yours,
	
	BROADWAY 500 WEST MONROE FEE LLC,
	    a Delaware limited liability company
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	

  
 SCH XI-3

 SCHEDULE XII 
 [Reserved] 

  
 SCH. XII-1

 SCHEDULE XIII 
 Intentionally Deleted 

  
 SCH. XIII-1

 SCHEDULE XIV 
 Form of Certificate for Required Repair 
 or 

for Replacements from the Rollover/Replacement Reserve Funds 

  
 SCH. IV-1

 [Mortgage] 
 SCHEDULE XIV 
 CERTIFICATE FOR REPAIRS OR FOR REPLACEMENTS FROM THE 

ROLLOVER/REPLACEMENT RESERVE FUNDS 
 This Certificate for Repairs or for Replacements from the Rollover/Replacement Reserve Funds (this “Certificate”)
dated                    , 20     is given to Morgan Stanley Mortgage Capital Holdings LLC (together with its
successors and assigns, “Lender”) by Broadway 500 West Monroe Fee LLC (“Borrower”) in connection with that certain Loan Agreement between Lender and Borrower dated July 11, 2007 (the “Loan Agreement”). The
capitalized terms not defined in this Certificate shall have the definitions ascribed to them in the Loan Agreement. 
 Borrower hereby
certifies to Lender that: 
 1. All Replacements at the Property to be funded by the disbursement requested the date hereof in the amount of
$             have been or will be completed in good and workmanlike manner and, to the best of Borrower’s knowledge, in accordance with all Legal Requirements and Environmental
Laws. This Certificate is accompanied by a copy of any license, permit or other approval by any Governmental Authority, if required, to commence and/or complete the Replacements 
 2. Exhibit XIV-A attached hereto identifies each Person that supplied or will supply materials or labor in connection with the Replacements performed or to be performed at the Property with respect to the
payments or reimbursement to be funded by the requested disbursement, and each such Person has been or will be paid in full (for all sums due and payable) upon such disbursement. 
 3. This Certificate is accompanied by lien waivers or, to the extent final payment has not been made to a Person, other evidence that all sums due and payable will be paid. 

 

					
	BORROWER:
	
	BROADWAY 500 WEST MONROE FEE LLC,
	    a Delaware limited liability company
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	Authorized Signatory

 Exhibit XIV-A 

  
 2 

 SCHEDULE XV 
 Form of Certificate with Respect to Disposition of Cash Security Deposit 

  
 SCH. IV-2

 [Mortgage] 
 SCHEDULE XV 
 CERTIFICATE WITH RESPECT TO DISPOSITION OF CASH SECURITY DEPOSIT

 This Certificate with Respect to Disposition of Cash Security Deposit (this “Certificate”)
dated                    , 20     is given to Morgan Stanley Mortgage Capital Holdings LLC (together with its
successors and assigns, “Lender”) by Broadway 500 West Monroe Fee LLC (“Borrower”) in connection with that certain Loan Agreement between Lender and Borrower dated July 11, 2007 (the “Loan Agreement”). The
capitalized terms not defined herein shall have the definitions ascribed to them in the Loan Agreement. 
 Borrower hereby
certifies to Lender that Borrower is herewith delivering to Lender the following (the “Cash Security”) with respect to the terms of the Lease Agreement between
                                    , as Landlord, and
                            , as Tenant (“Tenant”),
dated                                : 

[Recite check endorsed to the order of Lender or, if cash, state Cash] in the amount of
$            . 
 Attached hereto is a written direction with respect to the
Cash Security. The action requested pursuant to such written direction is [if a refund to Tenant] required or [if a transfer to the Rollover/Replacement Fund] authorized, as the case may be. 

 

					
	BORROWER:
	
	BROADWAY 500 WEST MONROE FEE LLC,
	    a Delaware limited liability company
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	Authorized Signatory

 Direction to Deliver Cash Security 
 Pursuant to that certain Loan Agreement between Lender and the undersigned dated July 11, 2007 (the “Loan Agreement”), the undersigned hereby directs Lender to take the following action:

 [Deposit the Cash Security to the Rollover/Replacement/Reserve Fund] 
 [Cause there to be issued a check in the amount of the Cash Security to the order of [Tenant] and deliver same to the undersigned for forwarding to [Tenant]. 

Date:
                                 

 

					
	BROADWAY 500 WEST MONROE FEE LLC,
	    a Delaware limited liability company
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	Authorized Signatory

  
 2 

 SCHEDULE XVI 
 Form of Certificate with Respect to Disposition of Letter of Credit Security Deposit 

  
 SCH. IV-3

 [Mortgage] 
 SCHEDULE XVI 
 CERTIFICATE WITH RESPECT TO DISPOSITION OF LETTER OF CREDIT SECURITY
DEPOSIT 
 This Certificate with Respect to Disposition of Letter of Credit Security Deposit (this “Certificate”)
dated                     , 20     is given to Morgan Stanley Mortgage Capital Holdings LLC (together with its
successors and assigns, “Lender”) by Broadway 500 West Monroe Fee LLC (“Borrower”) in connection with that certain Loan Agreement between Lender and Borrower dated July 11, 2007 (the “Loan Agreement”). The
capitalized terms not defined herein shall have the definitions ascribed to them in the Loan Agreement. 
 Borrower hereby
certifies to Lender that Letter of Credit number         , dated                     , issued
by                              for the account of
                    , may be drawn upon pursuant to the terms of the Lease Agreement between
                                        ,
as Landlord, and                                 , as Tenant, dated
                                    , in accordance with the
written direction dated                     , a copy of which written direction is attached hereto. 

 

					
	BORROWER:
	
	 BROADWAY 500 WEST MONROE FEE LLC,
     a Delaware limited liability company

		
	By:	 	 
		 	Name:	 	
		 	Title:	 	Authorized Signatory

 Direction to Draw Upon Letter of Credit 

Pursuant to that certain Loan Agreement between Lender and the undersigned dated July 11, 2007 (the “Loan Agreement”), the undersigned
hereby directs Lender to draw $             under Letter of Credit number         , dated
                    , issued by
                                 for the account of
                        , and to deposit the proceeds of such draw into the Rollover/Replacement Reserve Account.

 Date:
                                 

 

					
	 BROADWAY 500 WEST MONROE FEE LLC,
     a Delaware limited liability company

		
	By:	 	 
		 	Name:	 	
		 	Title:	 	Authorized Signatory

  
 2 

 SCHEDULE XVII 
 Form of Form of Non-disturbance Agreement 
  

 
 (Lender)

 - and - 
  

 
 (Tenant)

  
  

SUBORDINATION, NON-DISTURBANCE 
 AND ATTORNMENT AGREEMENT 
  

 
 Dated: 

Location: 
 Section: 

Block: 
 Lot: 

County: 
 PREPARED BY AND UPON 

RECORDATION RETURN TO: 
 Cadwalader,
Wickersham & Taft LLP 
 One World Financial Center 
 New York, New York 10281 
 Attention: John M. Zizzo, Esq. 

File No.: 
 Title No.: 

  
 SCH. IV-4

 SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT AGREEMENT 

THIS SUBORDINATION, NON-DISTURBANCE AND ATTORNMENT AGREEMENT (this “Agreement”) is made as of the
         day of                     , 20     by and between
[LENDER], having an address at [LENDER’S ADDRESS] (“Lender”) and
                                         
                       , having an address at
                                         
                                         
   (“Tenant”). 
 RECITALS: 

A. Lender has made a loan in the approximate amount of $            
to Landlord (defined below), which Loan is given pursuant to the terms and conditions of that certain Loan Agreement dated
                    , 20    , between Lender and Landlord (the “Loan Agreement”). The Loan
is evidenced by a certain Promissory Note dated                     , 20    , given by Landlord to Lender (the
“Note”) and secured by a certain [Mortgage] [Deed of Trust] and Security Agreement dated                     ,
20    , given by Landlord to Lender (the “Mortgage”), which encumbers the fee estate of Landlord in certain premises described in Exhibit A attached hereto (the “Property”);

 B. Tenant occupies a portion of the Property under and pursuant to the provisions of a certain lease dated
                    ,          , between
                    , as landlord (“Landlord”) and Tenant, as tenant (the “Lease”); and

 C. Tenant has agreed to subordinate the Lease to the Mortgage and to the lien thereof and Lender has agreed to grant
non-disturbance to Tenant under the Lease on the terms and conditions hereinafter set forth. 
 AGREEMENT: 

For good and valuable consideration, Tenant and Lender agree as follows: 

1. Subordination. Tenant agrees that the Lease and all of the terms, covenants and provisions thereof and all rights, remedies and
options of Tenant thereunder are and shall at all times continue to be subject and subordinate in all respects to the Mortgage and to the lien thereof and all terms, covenants and conditions set forth in the Mortgage and the Loan Agreement including
without limitation all renewals, increases, modifications, spreaders, consolidations, replacements and extensions thereof and to all sums secured thereby with the same force and effect as if the Mortgage and Loan Agreement had been executed,
delivered and (in the case of the Mortgage) recorded prior to the execution and delivery of the Lease. 
 2.
Non-Disturbance. Lender agrees that if any action or proceeding is commenced by Lender for the foreclosure of the Mortgage or the sale of the Property, Tenant shall not be named as a party therein unless such joinder shall be required by law,
provided, however, such joinder shall not result in the termination of the Lease or disturb the Tenant’s possession or use of the premises demised thereunder, and the sale of the Property in any such action or proceeding shall be made subject
to all rights of Tenant under the Lease except as set forth in Section 3 below, provided that at the time of the commencement of any such action or 

  
 SCH. IV-5

 
proceeding or at the time of any such sale or exercise of any such other rights the following conditions (the “Conditions”) exist: (a) the term of the Lease shall have
commenced pursuant to the provisions thereof, (b) Tenant shall be in possession of the premises demised under the Lease, (c) the Lease shall be in full force and effect and (d) Tenant shall not be in default under any of the terms,
covenants or conditions of the Lease or of this Agreement on Tenant’s part to be observed or performed beyond the expiration of any applicable notice or grace periods. 
 3. Attornment. Lender and Tenant agree that upon the conveyance of the Property by reason of the foreclosure of the Mortgage or the acceptance of a deed or assignment in lieu of foreclosure or
otherwise, the Lease shall not be terminated or affected thereby (at the option of the transferee of the Property (the “Transferee”) if the Conditions above have not been met at the time of such transfer) but shall continue
in full force and effect as a direct lease between the Transferee and Tenant upon all of the terms, covenants and conditions set forth in the Lease and in that event, Tenant agrees to attorn to the Transferee and the Transferee shall accept such
attornment, and the Transferee shall not be (a) obligated to complete any construction work required to be done by Landlord pursuant to the provisions of the Lease or to reimburse Tenant for any construction work done by Tenant, (b) liable
(i) for Landlord’s failure to perform any of its obligations under the Lease which have accrued prior to the date on which the Transferee shall become the owner of the Property, or (ii) for any act or omission of Landlord, whether
prior to or after such foreclosure or sale, (c) required to make any repairs to the Property or to the premises demised under the Lease required as a result of fire, or other casualty or by reason of condemnation unless the Transferee shall be
obligated under the Lease to make such repairs and shall have received sufficient casualty insurance proceeds or condemnation awards to finance the completion of such repairs, (d) required to make any capital improvements to the Property or to
the premises demised under the Lease which Landlord may have agreed to make, but had not completed, or to perform or provide any services not related to possession or quiet enjoyment of the premises demised under the Lease, (e) subject to any
offsets, defenses, abatements or counterclaims which shall have accrued to Tenant against Landlord prior to the date upon which the Transferee shall become the owner of the Property, (f) liable for the return of rental security deposits, if
any, paid by Tenant to Landlord in accordance with the Lease unless such sums are actually received by the Transferee, (g) bound by any payment of rents, additional rents or other sums which Tenant may have paid more than one (1) month in
advance to any prior Landlord unless (i) such sums are actually received by the Transferee or (ii) such prepayment shall have been expressly approved of by the Transferee, (h) bound to make any payment to Tenant which was required
under the Lease, or otherwise, to be made prior to the time the Transferee succeeded to Landlord’s interest, (i) bound by any agreement amending, modifying or terminating the Lease made without the Lender’s prior written consent prior
to the time the Transferee succeeded to Landlord’s interest or (j) bound by any assignment of the Lease or sublease of the Property, or any portion thereof, made prior to the time the Transferee succeeded to Landlord’s interest other
than if pursuant to the provisions of the Lease. 
 4. Notice to Tenant. After notice is given to Tenant by Lender that
the Landlord is in default under the Note and the Mortgage and that the rentals under the Lease should be paid to Lender pursuant to the terms of the assignment of leases and rents executed and delivered by Landlord to Lender in connection
therewith, Tenant shall thereafter pay to Lender or as directed by the Lender, all rentals and all other monies due or to become due to 

  
 SCH. IV-6

 
Landlord under the Lease and Landlord hereby expressly authorizes Tenant to make such payments to Lender and hereby releases and discharges Tenant from any liability to Landlord on account of any
such payments. 
 5. Lender’s Consent. Tenant shall not, without obtaining the prior written consent of Lender,
(a) enter into any agreement amending, modifying or terminating the Lease, (b) prepay any of the rents, additional rents or other sums due under the Lease for more than one (1) month in advance of the due dates thereof,
(c) voluntarily surrender the premises demised under the Lease or terminate the Lease without cause or shorten the term thereof, or (d) assign the Lease or sublet the premises demised under the Lease or any part thereof other than pursuant
to the provisions of the Lease; and any such amendment, modification, termination, prepayment, voluntary surrender, assignment or subletting, without Lender’s prior consent, shall not be binding upon Lender. 

6. Lender to Receive Notices. Tenant shall provide Lender with copies of all written notices sent to Landlord pursuant to the
Lease simultaneously with the transmission of such notices to the Landlord. Tenant shall notify Lender of any default by Landlord under the Lease which would entitle Tenant to cancel the Lease or to an abatement of the rents, additional rents or
other sums payable thereunder, and agrees that, notwithstanding any provisions of the Lease to the contrary, no notice of cancellation thereof or of such an abatement shall be effective unless Lender shall have received notice of default giving rise
to such cancellation or abatement and shall have failed within sixty (60) days after receipt of such notice to cure such default, or if such default cannot be cured within sixty (60) days, shall have failed within sixty (60) days
after receipt of such notice to commence and thereafter diligently pursue any action necessary to cure such default. 
 7.
Notices. All notices or other written communications hereunder shall be deemed to have been properly given (i) upon delivery, if delivered in person or by facsimile transmission with receipt acknowledged by the recipient thereof and
confirmed by telephone by sender, (ii) one (1) Business Day (hereinafter defined) 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 as follows: 

 

			
	If to Tenant:	  	_________________________________________
		  	_________________________________________
		  	_________________________________________
		  	Attention: _________________________________
		  	Facsimile No. ______________________________
		
	If to Lender:	  	[Lender’s Notice]

  
 SCH. IV-7

			
	With a copy to:	  	Cadwalader, Wickersham & Taft LLP
		  	One World Financial Center
		  	New York, New York 10281
		  	Attention: John M. Zizzo, Esq.
		  	Facsimile No. (212) 504-6666

 or addressed as such party
may from time to time designate by written notice to the other parties. For purposes of this Section, the term “Business Day” shall mean a day on which commercial banks are not authorized or required by law to close in New York, New York.

 Either Party by notice to the other may designate additional or different addresses for subsequent notices or communications. 

8. Joint and Several Liability. If Tenant consists of more than one person, the obligations and liabilities of each such person
hereunder shall be joint and several. This Agreement shall be binding upon and inure to the benefit of Lender and Tenant and their respective successors and assigns. 
 9. Definitions. The term “Lender” as used herein shall include the successors and assigns of Lender and any person, party or entity which shall become the owner of the Property by reason
of a foreclosure of the Mortgage or the acceptance of a deed or assignment in lieu of foreclosure or otherwise. The term “Landlord” as used herein shall mean and include the present landlord under the Lease and such landlord’s
predecessors and successors in interest under the Lease, but shall not mean or include Lender. The term “Property” as used herein shall mean the Property, the improvements now or hereafter located thereon and the estates therein encumbered
by the Mortgage. 
 10. No Oral Modifications. This Agreement may not be modified in any manner or terminated except by
an instrument in writing executed by the parties hereto. 
 11. Governing Law. This Agreement shall be deemed to be a
contract entered into pursuant to the laws of the State where the Property is located and shall in all respects be governed, construed, applied and enforced in accordance with the laws of the State where the Property is located. 

12. Inapplicable Provisions. If any term, covenant or condition of this Agreement is held to be invalid, illegal or unenforceable
in any respect, this Agreement shall be construed without such provision. 
 13. Duplicate Originals; Counterparts. This
Agreement may be executed in any number of duplicate originals and each duplicate original shall be deemed to be an original. This Agreement may be executed in several counterparts, each of which counterparts shall be deemed an original instrument
and all of which together shall constitute a single Agreement. The failure of any party hereto to execute this Agreement, or any counterpart hereof, shall not relieve the other signatories from their obligations hereunder. 

  
 SCH. IV-8

 14. Number and Gender. Whenever the context may require, any pronouns used herein
shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns and pronouns shall include the plural and vice versa. 
 15. Transfer of Loan. Lender may sell, transfer and deliver the Note and assign the Mortgage, this Agreement and the other documents executed in connection therewith to one or more investors in the
secondary mortgage market (“Investors”). In connection with such sale, Lender may retain or assign responsibility for servicing the loan, including the Note, the Mortgage, this Agreement and the other documents executed in
connection therewith, 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, on behalf of the Investors. All references to Lender herein shall refer to
and include any such servicer to the extent applicable. 
 16. Further Acts. Tenant will, at the cost of Tenant, and
without expense to Lender, do, execute, acknowledge and deliver all and every such further acts and assurances as Lender shall, from time to time, require, for the better assuring and confirming unto Lender the property and rights hereby intended
now or hereafter so to be, or for carrying out the intention or facilitating the performance of the terms of this Agreement or for filing, registering or recording this Agreement, or for complying with all applicable laws. 

17. Limitations on Lender’s Liability. Tenant acknowledges that Lender is obligated only to Landlord to make the Loan upon
the terms and subject to the conditions set forth in the Loan Agreement. In no event shall Lender or any purchaser of the Property at foreclosure sale or any grantee of the Property named in a deed-in-lieu of foreclosure, nor any heir, legal
representative, successor, or assignee of Lender or any such purchaser or grantee (collectively the Lender, such purchaser, grantee, heir, legal representative, successor or assignee, the “Subsequent Landlord”) have any
personal liability for the obligations of Landlord under the Lease and should the Subsequent Landlord succeed to the interests of the Landlord under the Lease, Tenant shall look only to the estate and property of any such Subsequent Landlord in the
Property for the satisfaction of Tenant’s remedies for the collection of a judgment (or other judicial process) requiring the payment of money in the event of any default by any Subsequent Landlord as landlord under the Lease, and no other
property or assets of any Subsequent Landlord shall be subject to levy, execution or other enforcement procedure for the satisfaction of Tenant’s remedies under or with respect to the Lease; provided, however, that the Tenant may exercise any
other right or remedy provided thereby or by law in the event of any failure by Subsequent Landlord to perform any such material obligation. 

  
 SCH. IV-9

 IN WITNESS WHEREOF, Lender and Tenant have duly executed this Agreement as of the date first
above written. 
  

			
	 LENDER:
  

[Lender]

		
	By:	 	 
		 	 Name:

Title:

  

	
	TENANT:
	
	__________________________________
	a ___________________________

  

			
	
		
	By:	 	 
		 	 Name:

Title:

 The undersigned
accepts and agrees to 
 the provisions of Section 4 hereof: 

 

	
	LANDLORD:
	
	_________________________, a
	____________________________________________

  

			
		
	By:	 	 
		 	 Name:

Title:

  
 SCH. IV-10

 ACKNOWLEDGMENTS 

[INSERT STATE SPECIFIC ACKNOWLEDGMENT] 

  
 SCH.IV-11

 EXHIBIT A 

LEGAL DESCRIPTION 

  
 SCH. XIV-1

 SCHEDULE XVIII 
 Form of Officer’s Certificate with respect to Leasing Expenses from the Rollover/Replacement 
 Reserve Funds 

  
 SCH. XIV-2

 SCHEDULE XIX 
 [Reserved] 

  
 SCH. XIV-3

 [Mortgage] 
 SCHEDULE XVIII 
 OFFICER’S CERTIFICATE WITH RESPECT TO LEASING EXPENSES FROM
THE 
 ROLLOVER/REPLACEMENT RESERVE FUND 
 This Officer’s Certificate with respect to Leasing Expenses from the Rollover/Replacement Reserve Funds (this “Certificate”) dated
                    , 20     is given to Morgan Stanley Mortgage Capital Holdings LLC (together with its successors
and assigns, “Lender”) by Broadway 500 West Monroe Fee LLC (“Borrower”) in connection with that certain Loan Agreement between Lender and Borrower dated July 11, 2007 (the “Loan Agreement”). The capitalized terms
not defined in this Certificate shall have the definitions ascribed to them in the Loan Agreement. 
 1. Borrower designates the following lease
as the lease (“Lease”) with respect to which this certificate relates: Lease dated                      between
                                     as landlord and
                                     as tenant (as amended).

 2. A disbursement in the amount of $
                     from the Rollover/Replacement Reserve Fund is hereby requested. 
 3. Borrower certifies that the aforesaid Leasing Expenses have been incurred by Borrower. 
  

			
	BORROWER:
	
	 BROADWAY 500 WEST MONROE FEE LLC,
       a Delaware limited liability company

		
	By:	 	 
		 	Name:
		 	Title: Authorized Signatory

 [If disbursement
relates to tenant improvement or leasing commission obligations, attach copies of paid or to be paid invoices.]

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