Document:

EX-10.26

 Exhibit 10.26 

SECURITY AGREEMENT 

SECURITY AGREEMENT dated as of October 10, 2013, (as it may be amended, restated, supplemented or otherwise modified from time to time)
among EXAGEN DIAGNOSTICS, INC., a Delaware corporation (“Borrower”; collectively with each entity that becomes a “Grantor” hereunder as contemplated by Section 5.12, the
“Grantors” and each, a “Grantor”), CAPITAL ROYALTY PARTNERS II L.P, CAPITAL ROYALTY PARTNERS II – PARALLEL FUND “A” L.P., and PARALLEL INVESTMENT OPPORTUNITIES PARTNERS II L.P.
(together, the “Secured Parties” and each, a “Secured Party”) and CAPITAL ROYALTY PARTNERS II L.P., as Control Agent for the Secured Parties (the “Control Agent”). 

The Secured Parties have agreed to provide term loans to Borrower as provided in the Loan Agreement (as defined below). 

Each Grantor (other than Borrower) shall guarantee the obligations of Borrower to the Secured Parties under the Loan Agreement. 

To induce the Secured Parties to extend credit under the Loan Agreement, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, each Grantor has agreed to grant a security interest in the Collateral (as defined below) of such Grantor as security for the Secured Obligations (as defined below). 

Accordingly, the parties hereto agree as follows: 

Section 1. Definitions, Etc. 

1.01 Certain Uniform Commercial Code Terms. As used herein, the terms “Accession”,
“Account”, “As-Extracted Collateral”, “Chattel Paper”, “Commodity Account”, “Commodity Contract”, “Deposit
Account”, “Document”, “Electronic Chattel Paper”, “Equipment”, “Fixture”, “General Intangible”,
“Goods”, “Instrument”, “Inventory”, “Investment Property”, “Letter-of-Credit Right”, “Proceeds” and
“Promissory Note” have the respective meanings set forth in Article 9 of the NYUCC, and the terms “Certificated Security”, “Entitlement Holder”, “Financial
Asset”, “Securities Account”, “Security”, “Security Entitlement” and “Uncertificated Security” have the respective meanings set forth in
Article 8 of the NYUCC. 
 1.02 Additional Definitions. In addition, as used herein: 

“Collateral” has the meaning assigned to such term in Section 3.01. 

“Control Agent” has the meaning assigned to such term in Section 5.13. 

“Controlled Foreign Corporation” means a “controlled foreign corporation” as defined in the Code. 

  
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 “Copyrights” means all copyrights, copyright registrations and
applications for copyright registrations, including all renewals and extensions thereof, all rights to recover for past, present or future infringements thereof and all other rights whatsoever accruing thereunder or pertaining thereto. 

“Excluded Asset” means: 

(a) any Trademark that would be rendered invalid, abandoned, void or unenforceable by reason of its being included as part of the Collateral;
and 
 (b) to the extent any property is excluded from the Collateral solely by operation of Section 3.02, such property. 

“Initial Pledged Shares” means the Shares of each Issuer beneficially owned by any Grantor on the date hereof and
identified in Annex 2. 
 “Issuers” means, collectively, (a) the respective Persons identified on
Annex 2 under the caption “Issuer”, (b) any other Person that shall at any time be a Subsidiary of any Grantor, and (c) the issuer of any equity securities hereafter owned by any Grantor. 

“Joinder” has the meaning specified in Section 5.12. 

“Loan Agreement” means that certain Term Loan Agreement, dated as of the date hereof, among Borrower, the Subsidiary
Guarantors and the Secured Parties, as such agreement is amended, supplemented, restated, extended, renewed, or replaced from time to time. 

“Motor Vehicles’’ means motor vehicles, tractors, trailers and other like property, if the title thereto is
governed by a certificate of title or ownership. 
 “NYUCC” means the Uniform Commercial Code as in effect from time
to time in the State of New York. 
 “Patents” means all patents and patent applications, including the inventions
and improvements described and claimed therein together with the reissues, divisions, continuations, renewals, extensions and continuations in part thereof, all income, royalties, damages and payments now or hereafter due and/or payable with respect
thereto, all damages and payments for past or future infringements thereof and rights to sue therefor, and all rights corresponding thereto throughout the world. 

“Pledged Property” means the Deposit Accounts, the Pledged Shares, the Securities Accounts, the Commodity Accounts and
all or any part of any other present or future interests of any Grantors in Investment Property, including all of the present or future Security Entitlements of such Grantor as Entitlement Holders in respect of such Security Entitlements, all of the
present or future Commodity Contracts of such Grantor as commodity customers in respect of such Commodity Contracts, all credit balances relating to such property, all other rights and benefits accruing to or arising in connection with such
property, and all Proceeds of such property. 

  
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 “Pledged Shares” means, collectively, (i) the Initial Pledged Shares
and (ii) all other Shares of any Issuer now or hereafter owned by any Grantor, together in each case with (a) all certificates representing the same, (b) all shares, securities, moneys or other property representing a dividend on or a
distribution or return of capital on or in respect of the Pledged Shares, or resulting from a split-up, revision, reclassification or other like change of the Pledged Shares or otherwise received in exchange therefor, and any warrants, rights or
options issued to the holders of, or otherwise in respect of, the Pledged Shares, and (c) without prejudice to any provision of any of the Loan Documents prohibiting any merger or consolidation by an Issuer, all Shares of any successor entity
of any such merger or consolidation. 
 “Secured Obligations” means, with respect to each Grantor, the Obligations
of such Grantor. 
 “Secured Parties” means each of the Persons listed on the signature pages hereto as
“Secured Party” and their successors and assigns as Lenders under the Loan Agreement. 
 “Secured Parties
Representative” has the meaning specified in Section 4.05. 
 “Shares” means shares of
capital stock of a corporation, limited liability company interests, partnership interests and other ownership or equity interests of any class in any Person. 

“Trademarks” means all trade names, trademarks and service marks, logos, trademark and service mark registrations, and
applications for trademark and service mark registrations, including all renewals of trademark and service mark registrations, all rights to recover for all past, present and future infringements thereof and all rights to sue therefor, and all
rights corresponding thereto throughout the world, and in each case, the goodwill of the business connected with the use of, and symbolized by, each such trade name, trademark and service mark. 

1.03 Other Defined Terms. All other capitalized terms used and not defined herein have the meanings ascribed to them in the Loan
Agreement. References to agreements (including this Agreement) or other contractual obligations shall, unless otherwise specified, be deemed to refer to such agreements or contractual obligations as amended, supplemented, restated, amended and
restated or otherwise modified from time to time to the extent not prohibited herein. 
 Section 2. Representations and Warranties. Each Grantor
represents and warrants to the Secured Parties that: 
 2.01 Title. 

(a) Such Grantor is the sole beneficial owner of its Collateral and no lien exists upon such Collateral (and no right or option to acquire the
same exists in favor of any other Person) other than (a) the security interest created or provided for herein and (b) Permitted Liens. 

(b) Subject to Permitted Liens, the security interest created or provided for herein constitutes a valid first priority, and to the extent the
security interest in the Collateral may 

  
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be perfected in any manner described in clauses (i) through (iv) below, perfected lien on such Collateral subject, for the following Collateral, to the occurrence of the following:
(i) in the case of Collateral in which a security interest may be perfected by filing a financing statement under the UCC, the filing of a UCC financing statement naming such Grantor as debtor, the Secured Parties as secured parties, and
listing all personal property as Collateral (which has been delivered to the Control Agent in completed and duly authorized form), (ii) with respect to any Deposit Account, Securities Account or Commodity Account, the execution of agreements
among such Grantor, the applicable financial institution and the Control Agent, effective to grant “control” (as defined in the UCC) over such Deposit Account, Securities Account or Commodity Account to the Control Agent, (iii) with
respect to any Intellectual Property that does not qualify under clause (i) above, the filing of this Security Agreement or a short-form security agreement properly evidencing this Security Agreement with the applicable Intellectual Property
office of the applicable government for such Intellectual Property, and (iv) in the case of all certificated Shares, the delivery thereof to the Control Agent properly endorsed for transfer to the Control Agent or in blank. 

2.02 Names, Etc. The full and correct legal name, type of organization, jurisdiction of organization, organizational ID number (if
applicable) and mailing address of such Grantor as of the date hereof are correctly set forth in Annex 1. Annex 1 correctly specifies the place of business of such Grantor or, if such Grantor has more than one place of business, the
location of the chief executive office of such Grantor. 
 2.03 Changes in Circumstances. Such Grantor has not (a) within the
period of four months prior to the date hereof, changed its location (as defined in Section 9-307 of the NYUCC), or (b) except as specified in Annex 1, heretofore changed its name. 

2.04 Pledged Shares. 

(a) The Initial Pledged Shares constitute (a) 100% of the issued and outstanding Shares of each Issuer (other than a Controlled Foreign
Corporation) beneficially owned by such Grantor on the date hereof (other than any Shares held in a Securities Account referred to in Annex 7), whether or not registered in the name of such Grantor and (b) in the case of each Issuer that
is a Controlled Foreign Corporation, (i) 65% of the issued and outstanding shares of voting stock of such Issuer and (ii) 100% of all other issued and outstanding shares of capital stock of whatever class of such Issuer beneficially owned
by such Grantor on the date hereof, in each case whether or not registered in the name of such Grantor. Annex 2 correctly identifies, as at the date hereof, the respective Issuers of the Initial Pledged Shares and (in the case of any
corporate Issuer) the respective class and par value of such Shares and the respective number of such Shares (and registered owner thereof) represented by each such certificate. 

(b) The Initial Pledged Shares are, and all other Pledged Shares that in the future will constitute Collateral will be, (i) duly
authorized, validly existing, fully paid and nonassessable (in the case of any Shares issued by a corporation) and (ii) duly issued and outstanding (in the case of any equity interest in any other entity), and none of such Pledged Shares are or
will be subject to any contractual restriction, or any restriction under the charter, bylaws, partnership agreement or other organizational instrument of the respective Issuer thereof, prohibiting the transfer of such Pledged Shares (except for any
such restriction contained herein 

  
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or in the Loan Documents, Permitted Restrictive Agreements or as otherwise permitted in the Loan Documents). 

2.05 Promissory Notes. Annex 3 sets forth a complete and correct list of all Promissory Notes (other than any held in a Securities
Account referred to in Annex 7) held by such Grantor on the date hereof. 
 2.06 Intellectual Property. Annexes 4, 5 and 6,
respectively, set forth a complete and correct list of all (a) applied for or registered Copyrights, (b) applied for or registered Patents, including the jurisdiction and patent number, and (c) applied for or registered Trademarks,
including the jurisdiction, trademark application or registration number and the application or registration date, and trade names, owned or exclusively licensed by such Grantor on the date hereof (or, in the case of any supplement to said Annexes
4, 5 and 6, effecting a pledge thereof, as of the date of such supplement). 
 2.07 Deposit Accounts, Securities Accounts and Commodity
Accounts. Annex 7 sets forth a complete and correct list of all Deposit Accounts, Securities Accounts and Commodity Accounts of such Grantor on the date hereof. 

2.08 Commercial Tort Claims. Annex 8 sets forth a complete and correct list of all commercial tort claims of such Grantor in
existence on the date hereof. 
 2.09 Each of Annexes 1, 2, 3, 4, 5, 6, 7, and
8 shall be updated by Borrower prior to each Borrowing Date to insure the continued accuracy of such Annexes as of such Borrowing Date, by Borrower providing to the Lenders, in writing (including by electronic means), a revised version of
such Annex in accordance with the provisions of Section 12.02 of the Loan Agreement. Each such updated Annex shall be effective immediately upon the receipt thereof by the Lenders. 

Section 3. Collateral. 
 3.01
Granting Clause. As collateral security for the payment in full when due (whether at stated maturity, by acceleration or otherwise) of the Secured Obligations, each Grantor hereby pledges and grants to the Secured Parties, as hereinafter
provided a security interest in all of such Grantor’s right, title and interest in, to and under all of its property, in each case whether tangible or intangible, wherever located, and whether now owned by such Grantor or hereafter acquired and
whether now existing or hereafter coming into existence, including without limitation all of the following but excluding all Excluded Assets (collectively, “Collateral”): 

(a) all Accounts: 
 (b) all
As-Extracted Collateral; 
 (c) all Chattel Paper; 

(d) all Deposit Accounts; 

  
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 (e) all Documents; 

(f) all Equipment; 
 (g) all
Fixtures; 
 (h) all General Intangibles; 

(i) all Goods not covered by the other clauses of this Section 3; 

(j) the Pledged Shares; 
 (k)
all Instruments, including all Promissory Notes; 
 (l) all Intellectual Property; 

(m) all Inventory; 
 (n) all
Investment Property not covered by other clauses of this Section 3, including all Securities, all Securities Accounts and all Security Entitlements with respect thereto and Financial Assets carried therein, and all Commodity Accounts and
Commodity Contracts; 
 (o) all Letter-of-Credit Rights; 

(p) all commercial tort claims, as defined in Section 9-102(a)(13) of the NYUCC, arising out of the events described in
Annex 8; 
 (q) all other tangible and intangible personal property whatsoever of such Grantor; and 

(r) all Proceeds of any of the Collateral, all Accessions to and substitutions and replacements for, any of the Collateral, and all offspring,
rents, profits and products of any of the Collateral, and, to the extent related to any Collateral, all books, correspondence, credit files, records, invoices and other papers (including all tapes, cards, computer runs and other papers and documents
in the possession or under the control of such Grantor or any computer bureau or service company from time to time acting for such Grantor); 
 provided,
however, that, nothing set forth in this Section 3.01 or any other provision of this Agreement or any other Loan Document shall at any time constitute the grant of a security interest in, or a Lien on, any Excluded Asset. 

3.02 Controlled Foreign Corporations; Certain Leases and Licenses. Notwithstanding anything herein to the contrary, in no event shall
the Collateral include, and each Grantor shall not be deemed to have granted a security interest in, any of such Grantor’s right, title or interest in: 

(a) any of the outstanding voting capital stock or other ownership interests of a Controlled Foreign Corporation in excess of 65% of the
voting power of all classes of capital stock or other ownership interests of such Controlled Foreign Corporation entitled to vote; 

  
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 provided that (i) immediately upon the amendment of the Code to allow the pledge of a greater percentage of
the voting power of capital stock or other ownership interests in a Controlled Foreign Corporation without adverse tax consequences, the Collateral shall include, and each Grantor shall be deemed to have granted a security interest in, such greater
percentage of capital stock or other ownership interests of each Controlled Foreign Corporation in which it has any interest and (ii) if no adverse tax consequences to the applicable Grantor shall arise or exist in connection with the pledge of
any Controlled Foreign Corporation, the Collateral shall include, and the applicable Grantor shall be deemed to have granted a security interest in, all of the capital stock or other ownership interests of such Controlled Foreign Corporation held by
such Grantor; or 
 (b) any lease, license, contract or agreement to which any Grantor is a party, in each case, if and only if, and solely
to the extent that, (A) the grant of a security interest therein shall constitute or result in a breach, termination or default or invalidity thereunder or thereof (other than to the extent that any such term would be rendered ineffective
pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the UCC of any relevant jurisdiction or any other applicable law or principles of equity) and (B) such lease, license, contract or agreement (1) is an “off the shelf” license
of intellectual property that is not material to the operation of the business of the applicable Grantor or which can be replaced without a material expenditure, or (2) is executed by the applicable Grantor after the date hereof (provided that
the applicable Grantor, prior to entering into or obtaining such lease, license, contract or agreement, used commercially reasonable efforts to permit the collateral assignment thereof but was unsuccessful in obtaining such permission); provided
that immediately upon the time at which the consequences described in the foregoing clause (A) shall no longer exist, the Collateral shall include, and the applicable Grantor shall be deemed to have granted a security interest in, all of such
Grantor’s right, title and interest in such lease, license, contract or agreement. 
 Section 4. Further Assurances; Remedies. In
furtherance of the grant of the security interest pursuant to Section 3, the Grantors hereby jointly and severally agree with the Secured Parties as follows: 

4.01 Delivery and Other Perfection. Subject to Permitted Liens, each Grantor shall promptly from time to time give, execute, deliver,
file, record, authorize or obtain all such financing statements, continuation statements, notices, instruments, documents, agreements or consents or other papers as may be necessary or desirable in the judgment of the Majority Lenders to create,
preserve, perfect, maintain the perfection of or validate the security interest granted pursuant hereto or to enable the Secured Parties to exercise and enforce their rights hereunder with respect to such security interest, and without limiting the
foregoing, shall: 
 (a) if any of the Pledged Shares, Investment Property or Financial Assets constituting part of the Collateral are
received by the Grantor, forthwith (x) deliver to the Control Agent the certificates or instruments representing or evidencing the same, duly endorsed in blank or accompanied by such instruments of assignment and transfer in such form and
substance as the Control Agent may request, all of which thereafter shall be held by the Control Agent, pursuant to the terms of this Agreement, as part of the Collateral and (y) take such other action as the Control Agent may deem necessary or
appropriate to duly record or otherwise perfect the security interest created hereunder in such Collateral; 

  
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 (b) promptly from time to time deliver to the Control Agent any and all Instruments constituting
part of the Collateral, endorsed and/or accompanied by such instruments of assignment and transfer in such form and substance as the Control Agent may request; provided that (other than in the case of the Promissory Notes described in Annex
3) until the occurrence of an Event of Default that has not been waived in writing by the Majority Lenders in accordance with the Loan Agreement, such Grantor may retain for collection in the ordinary course any Instruments received by such
Grantor in the ordinary course of business and the Control Agent shall, promptly upon request of such Grantor, make appropriate arrangements for making any Instrument delivered by such Grantor available to such Grantor for purposes of presentation,
collection or renewal (any such arrangement to be effected, to the extent requested by the Control Agent, against trust receipt or like document); 

(c) (i) enter into such control agreements as required and within such time period as set forth in Section 6.01(h)(ii)(E) of the
Loan Agreement, and (ii) promptly from time to time thereafter, enter into such control agreements in favor of the Secured Parties, each in form and substance acceptable to the Majority Lenders, as may be required to perfect the security
interest created hereby in any and all Deposit Accounts, Investment Property, Electronic Chattel Paper and Letter-of-Credit Rights acquired by the Grantors after the date hereof, and will promptly furnish to the Control Agent true copies thereof;

 (d) promptly from time to time upon the request of the Majority Lenders, (i) execute and deliver such short-form security agreements
as the Majority Lenders may deem necessary or desirable to protect the interests of the Secured Parties in respect of that portion of the Collateral consisting of Intellectual Property, and (ii) take such other action as the Majority Lenders
may deem necessary or appropriate to duly record or otherwise perfect the security interest created hereunder in that portion of the Collateral consisting of Intellectual Property located in a country outside the United States; 

(e) promptly upon request of the Majority Lenders, cause the Secured Parties to be listed as the lienholder on any certificate of title or
ownership covering any Motor Vehicle (other than Motor Vehicles constituting Inventory) and within 120 days of such request deliver evidence of the same to the Control Agent; 

(f) keep full and accurate books and records relating to the Collateral, and stamp or otherwise mark such books and records in such manner as
the Majority Lenders may require in order to reflect the security interests granted by this Agreement; 
 (g) permit representatives of the
Secured Parties upon reasonable notice, at any time during normal business hours to inspect and make abstracts from its books and records pertaining to the Collateral, and permit representatives of the Secured Parties to be present at such
Grantor’s place of business to receive copies of communications and remittances relating to the Collateral, and forward copies of any notices or communications received by such Grantor with respect to the Collateral, all in such manner as the
Majority Lenders may require; and 
 (h) (i) enter into and deliver to the Secured Parties such Landlord Consent as required and within such
time period as set forth in the Loan Agreement, (ii) promptly from time to time upon the request of the Majority Lenders, use commercially reasonable efforts to, subject 

  
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to the receipt of any necessary landlord consents, execute and deliver such real property security documents and collateral access agreements with respect to real Property owned or leased (as
tenant) by such Grantor in the United States, and (iii) cause to be recorded in the appropriate real property records such documents delivered pursuant to this Section 4.01(h) as the Control Agent may deem necessary or appropriate.

 4.02 Other Financing Statements or Control. Except as otherwise permitted under the Loan Documents and except for Permitted Liens,
no Grantor shall (a) file or suffer to be on file, or authorize or permit to be filed or to be on file, in any jurisdiction, any financing statement or like instrument with respect to any of the Collateral in which the Secured Parties are not
named as the sole secured parties, or (b) cause or permit any Person other than the Control Agent or the Secured Parties to have “control” (as defined in Section 9-104, 9-105, 9-106 or 9-107 of the NYUCC) of any Deposit Account,
Securities Account, Commodity Account, Electronic Chattel Paper, Investment Property or Letter-of-Credit Right constituting part of the Collateral. 

4.03 Preservation of Rights. The Secured Parties shall not be required to take steps necessary to preserve any rights against prior
parties to any of the Collateral. 
 4.04 Special Provisions Relating to Certain Collateral. 

(a) Pledged Shares. 

(i) Subject to Permitted Liens, the Grantors will cause the Pledged Shares to constitute at all times (1) 100% of the total number of
Shares of each Issuer (other than a Controlled Foreign Corporation) then outstanding owned by the Grantors and (2) in the case of any Issuer that is a Controlled Foreign Corporation, 65% of the total number of shares of voting stock of such
Issuer and 100% of the total number of shares of all other classes of capital stock of such Issuer then issued and outstanding owned by the Grantors. 

(ii) Until the occurrence of an Event of Default that has not been waived in writing by the Majority Lenders in accordance with the terms of
the Loan Agreement, the Grantors shall have the right to exercise all voting, consensual and other powers of ownership pertaining to the Pledged Shares for all purposes not inconsistent with the terms of this Agreement, the other Loan Documents or
any other instrument or agreement referred to herein or therein, provided that the Grantors jointly and severally agree that they will not vote the Pledged Shares in any manner that is inconsistent with the terms of this Agreement, the other Loan
Documents or any such other instrument or agreement; and the Control Agent or the Secured Parties shall execute and deliver to the Grantors or cause to be executed and delivered to the Grantors all such proxies, powers of attorney, dividend and
other orders, and all such instruments, without recourse, as the Grantors may reasonably request for the purpose of enabling the Grantors to exercise the rights and powers that it is entitled to exercise pursuant to this
Section 4.04(a)(ii). 
 (iii) Until the occurrence of an Event of Default that has not been waived in writing by the Majority
Lenders in accordance with the Loan Agreement, the Grantors shall be entitled to receive and retain any dividends, distributions or proceeds on the Pledged Shares paid in cash out of earned surplus. 

  
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 (iv) After the occurrence of an Event of Default that has not been waived in writing by the
Majority Lenders in accordance with the Loan Agreement, whether or not the Secured Parties or any of them exercises any available right to declare any Secured Obligations due and payable or seeks or pursues any other relief or remedy available to
them under applicable law or under this Agreement, the other Loan Documents or any other agreement relating to such Secured Obligation, all dividends and other distributions on the Pledged Shares shall be paid directly to the Secured Parties
Representative for distribution to the Secured Parties and retained by them as part of the Collateral, subject to the terms of this Agreement, and, if the Secured Parties Representative shall so request in writing, the Grantors jointly and severally
agree to execute and deliver to the Secured Parties Representative appropriate additional dividend, distribution and other orders and documents to that end, provided that if such Event of Default is waived in writing by the Majority Lenders in
accordance with the Loan Agreement, any such dividend or distribution theretofore paid to the Secured Parties Representative shall, upon request of the Grantors (except to the extent theretofore applied to the Secured Obligations), be returned by
the Secured Parties Representative to the Grantors. 
 (b) Intellectual Property. 

(i) For the purpose of enabling the Secured Parties to exercise rights and remedies under Section 4.05 at such time as the
Secured Parties shall be lawfully entitled to exercise such rights and remedies, and for no other purpose, each Grantor hereby grants to the Secured Parties Representative, to the extent assignable, an irrevocable, non-exclusive license (exercisable
without payment of royalty or other compensation to such Grantor) to use and the right to assign, license or sublicense any of the Intellectual Property now owned or hereafter acquired by such Grantor, wherever the same may be located, including in
such license reasonable access to all media in which any of the licensed items may be recorded or stored and to all computer programs used for the compilation or printout thereof. 

(ii) Notwithstanding anything contained herein to the contrary, but subject to any provision of the Loan Documents that limits the rights of
any Grantor to dispose of its property, until the occurrence of an Event of Default that has not been waived in writing by the Majority Lenders in accordance with the Loan Agreement, the Grantors will be permitted to exploit, use, enjoy, protect,
defend, enforce, license, sublicense, assign, sell, dispose of or take other actions with respect to the Intellectual Property in the ordinary course of business of the Grantors. In furtherance of the foregoing, until the occurrence of an Event of
Default that has not been waived in writing by the Majority Lenders in accordance with the terms of the Loan Agreement, the Secured Parties or the Secured Parties Representative shall from time to time, upon the request of the respective Grantor,
execute and deliver any instruments, certificates or other documents, in the form so requested, that the Grantors shall have certified are appropriate in its judgment to allow it to take any action permitted above (including relinquishment of the
license provided pursuant to Section 4.04(b)(i) as to any specific Intellectual Property). Further, upon the payment in full of all of the Secured Obligations (other than inchoate indemnity or reimbursement obligations or other
obligations which, by their terms, survive termination of the Loan Agreement or Warrant Obligations) or earlier expiration of this Agreement or release of the Collateral, the Secured Parties Representative shall grant back to the Grantors the
license granted pursuant to clause (i) immediately above. The exercise of rights and remedies under Section 4.05 by the Secured Parties shall not terminate the rights of the holders of any licenses,

  
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covenants not to sue, or sublicenses theretofore granted by the Grantors in accordance with the first sentence of this Section 4.04(b)(ii). 

(c) Chattel Paper. The Grantors will (i) deliver to the Control Agent each original of each item of Chattel Paper at any time
constituting part of the Collateral, and (ii) cause each such original and each copy thereof to bear a conspicuous legend, in form and substance satisfactory to the Control Agent, indicating that such Chattel Paper is subject to the security
interest granted hereby and that purchase of such Chattel Paper by a Person other than the Control Agent without the consent of the Control Agent would violate the rights of the Secured Parties. 

4.05 Remedies. 
 (a)
Rights and Remedies Generally upon Event of Default. Upon the occurrence of an Event of Default that has not been waived in writing by the Majority Lenders in accordance with the terms of the Loan Agreement, the Secured Parties shall have all
of the rights and remedies with respect to the Collateral of a secured party under the NYUCC (whether or not the Uniform Commercial Code is in effect in the jurisdiction where the rights and remedies are asserted) and such additional rights and
remedies to which a secured party is entitled under the laws in effect in any jurisdiction where any rights and remedies hereunder may be asserted, including the right, to the fullest extent permitted by law, to exercise all voting, consensual and
other powers of ownership pertaining to the Collateral as if the Secured Parties were the sole and absolute owner thereof (and each Grantor agrees to take all such action as may be appropriate to give effect to such right). Upon the occurrence of an
Event of Default that has not been waived in writing by the Majority Lenders in accordance with the terms of the Loan Agreement, the Majority Lenders shall appoint one of the Secured Parties to act as a representative of all the Secured Parties
(such Person, the “Secured Parties Representative”) to exercise, on behalf of all the Secured Parties, such rights and remedies of the Secured Parties described above; and without limiting the foregoing: 

(i) the Secured Parties Representative may, in its name or in the name of any Grantor or otherwise, demand, sue for, collect or receive any
money or other property at any time payable or receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so; 

(ii) the Secured Parties Representative may make any reasonable compromise or settlement deemed desirable with respect to any of the
Collateral and may extend the time of payment, arrange for payment in installments, or otherwise modify the terms of, any of the Collateral; 

(iii) the Secured Parties Representative may require the Grantors to notify (and each Grantor hereby authorizes the Secured Parties
Representative to so notify) each account debtor in respect of any Account, Chattel Paper or General Intangible, and each obligor on any Instrument, constituting part of the Collateral that such Collateral has been assigned to the Secured Parties
hereunder, and to instruct that any payments due or to become due in respect of such Collateral shall be made directly to the Secured Parties Representative or as it may direct (and if any such payments, or any other Proceeds of Collateral, are
received by any Grantor they 

  
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shall be held in trust by such Grantor for the benefit of the Secured Parties and as promptly as possible remitted or delivered to the Secured Parties Representative for application as provided
herein); 
 (iv) the Secured Parties Representative may require the Grantors to assemble the Collateral at such place or places, convenient
to the Secured Parties and the Grantors, as the Secured Parties Representative may direct; 
 (v) the Secured Parties Representative may
require the Grantors to cause the Pledged Shares to be transferred of record into the name of the Secured Parties Representative or its nominee (and the Secured Parties Representative agrees that if any of such Pledged Shares is transferred into its
name or the name of its nominee, the Secured Parties Representative will thereafter promptly give to the respective Grantor copies of any notices and communications received by them with respect to such Pledged Shares); and 

(vi) the Secured Parties Representative may sell, lease, assign or otherwise dispose of all or any part of the Collateral, at such place or
places as the Secured Parties Representative deems best, and for cash or for credit or for future delivery (without thereby assuming any credit risk), at public or private sale, without demand of performance or notice of intention to effect any such
disposition or of the time or place thereof (except such notice as is required by applicable statute and cannot be waived), and the Secured Parties Representative or anyone else may be the purchaser, lessee, assignee or recipient of any or all of
the Collateral so disposed of at any public sale (or, to the extent permitted by law, at any private sale) and thereafter hold the same absolutely, free from any claim or right of whatsoever kind, including any right or equity of redemption
(statutory or otherwise), of the Grantors, any such demand, notice and right or equity being hereby expressly waived and released. In the event of any sale, assignment, or other disposition of any of the Collateral consisting of Trademarks, the
goodwill connected with and symbolized by the Trademarks subject to such disposition shall be included. The Secured Parties Representative may, without notice or publication, adjourn any public or private sale or cause the same to be adjourned from
time to time by announcement at the time and place fixed for the sale, and such sale may be made at any time or place to which the sale may be so adjourned. 

(vii) The Proceeds of each collection, sale or other disposition under this Section 4.05, including by virtue of the exercise of
any license granted to the Secured Parties Representative in Section 4.04(b), shall be applied in accordance with Section 4.09. 

(b) Certain Securities Act Limitations. The Grantors recognize that, by reason of certain prohibitions contained in the Securities Act
of 1933, as amended, and applicable state securities laws, the Secured Parties Representative may be compelled, with respect to any sale of all or any part of the Collateral, to limit purchasers to those who will agree, among other things, to
acquire the Collateral for their own account, for investment and not with a view to the distribution or resale thereof. The Grantors acknowledge that any such private sales may be at prices and on terms less favorable to the Secured Parties
Representative than those obtainable through a public sale without such restrictions, and, notwithstanding such circumstances, agree that any such private sale shall be deemed to have been made in a commercially reasonable manner and that the
Secured Parties Representative shall have no 

  
 12 

 
obligation to engage in public sales and no obligation to delay the sale of any Collateral for the period of time necessary to permit the issuer thereof to register it for public sale. 

(c) Notice. The Grantors agree that to the extent the Secured Parties Representative is required by applicable law to give reasonable
prior notice of any sale or other disposition of any Collateral, ten business days’ notice shall be deemed to constitute reasonable prior notice. 

4.06 Deficiency. If the proceeds of sale, collection or other realization of or upon the Collateral pursuant to
Section 4.05 are insufficient to cover the costs and expenses of such realization and the indefeasible payment in full in cash of the Secured Obligations (other than inchoate indemnity or reimbursement obligations or Warrant
Obligations), the Grantors shall remain liable for any deficiency. 
 4.07 Locations; Names, Etc. No Grantor shall (i) change
its location (as defined in Section 9-307 of the NYUCC), (ii) change its name from the name shown as its current legal name on Annex 1, or (iii) agree to or authorize any modification of the terms of any item of Collateral that
would result in a change thereof from one Uniform Commercial Code category to another such category (such as from a General Intangible to Investment Property), if the effect thereof would be to result in a loss of perfection of, or diminution of
priority for, the security interests created hereunder in such item of Collateral, or the loss of control (within the meaning of Section 9-104, 9-105, 9-106 or 9-107 of the NYUCC) over such item of Collateral, unless in each case 30 days’
prior written notice has been provided to the Control Agent and such change is not otherwise restricted by the terms of any Loan Document. 

4.08 Private Sale. The Secured Parties shall incur no liability as a result of the sale of the Collateral, or any part thereof, at any
private sale pursuant to Section 4.05 conducted in a commercially reasonable manner. Each Grantor hereby waives any claims against the Secured Parties or any of them arising by reason of the fact that the price at which the Collateral
may have been sold at such a private sale was less than the price that might have been obtained at a public sale or was less than the aggregate amount of the Secured Obligations, even if the Secured Parties Representative accepts the first offer
received and does not offer the Collateral to more than one offeree. 
 4.09 Application of Proceeds. Except as otherwise herein
expressly provided and except as provided below in this Section 4.09, the Proceeds of any collection, sale or other realization of all or any part of the Collateral pursuant hereto, and any other cash at the time held by the Secured
Parties Representative under this Section 4, shall be applied by the Secured Parties Representative: 
 First, to the payment of
the costs and expenses of such collection, sale or other realization, including reasonable out of pocket costs and expenses of the Secured Parties and the fees and expenses of their agents and counsel, and all expenses incurred and advances made by
the Secured Parties in connection therewith; 

  
 13 

 Next, to the indefeasible payment in full of the Secured Obligations (other than inchoate
indemnity or reimbursement obligations or Warrant Obligations) in such order as the Secured Parties in their sole discretion determine; and 

Finally, to the payment to the respective Grantor, or its successors or assigns, or as a court of competent jurisdiction may direct, of any
surplus then remaining. 
 4.10 Attorney in Fact. Without limiting any rights or powers granted by this Agreement to the Secured
Parties, upon the occurrence of an Event of Default that has not been waived in writing by the Majority Lenders in accordance with the Loan Agreement, the Secured Parties Representative (and any of the Secured Parties Representative’s officers
or employees or agents appointed by the Secured Parties Representative) is hereby appointed the attorney in fact of each Grantor for the purpose of carrying out the provisions of this Section 4 and taking any action and executing any
instruments that the Secured Parties Representative may deem necessary or advisable to accomplish the purposes hereof, which appointment as attorney in fact is irrevocable and coupled with an interest. Without limiting the generality of the
foregoing, so long as the Secured Parties Representative shall be entitled under this Section 4 to make collections in respect of the Collateral, the Secured Parties Representative shall have the right and power to receive, endorse and
collect all checks made payable to the order of any Grantor representing any dividend, payment or other distribution in respect of the Collateral or any part thereof and to give full discharge for the same. 

4.11 Perfection and Recordation. Each Grantor authorizes the Secured Parties to file Uniform Commercial Code financing statements
describing the Collateral as “all assets” or “all personal property and fixtures” of such Grantor (provided that no such description shall be deemed to modify the description of Collateral set forth in Section 3).

 4.12 Termination. When all Secured Obligations shall have been indefeasibly paid in full in cash (other than inchoate indemnity or
reimbursment obligations or the Warrant Obligations), this Agreement automatically shall terminate, and each Secured Party shall, upon request of Grantors, cause to be assigned, transferred and delivered, against receipt but without any recourse,
warranty or representation whatsoever, any remaining Collateral and money received in respect thereof, to or on the order of the respective Grantor and to be released and canceled all licenses and rights referred to in Section 4.04(b),
in each case, at Grantors’ sole expense. Each Secured Party shall also, at the expense of such Grantor, execute and deliver to such Grantor upon such termination such Uniform Commercial Code termination statements, certificates for terminating
the liens on the Motor Vehicles and such other documentation as shall be reasonably requested by the respective Grantor to effect the termination and release of the liens on the Collateral as required by this Section 4.12, in each case,
at Grantors’ sole expense. 
 4.13 Further Assurances. Each Grantor agrees that, from time to time upon the written request of
the Majority Lenders, such Grantor will execute and deliver such further documents and do such other acts and things as the Majority Lenders may request in order fully to effect the purposes of this Agreement. The Secured Parties shall release any
lien covering any asset that has been disposed of in accordance with the provisions of the Loan Documents. 
 Section 5. Miscellaneous. 

  
 14 

 5.01 Notices. All notices, requests, consents and demands hereunder shall be delivered in
accordance with Section 12.02 of the Loan Agreement. 
 5.02 No Waiver. No failure on the part of any Secured Party to
exercise, and no course of dealing with respect to, and no delay in exercising, any right, power or remedy hereunder shall operate as a waiver thereof; nor shall any single or partial exercise by any Secured Party of any right, power or remedy
hereunder preclude any other or further exercise thereof or the exercise of any other right, power or remedy. The remedies herein are cumulative and are not exclusive of any remedies provided by law. 

5.03 Amendments, Etc. The terms of this Agreement may be waived, altered or amended only by an instrument in writing duly executed by
each Grantor and the Majority Lenders. 
 5.04 Expenses. 

(a) The Grantors shall pay or reimburse the Control Agent or the Secured Parties for costs and expenses in accordance with
Section 12.03 of the Loan Agreement. 
 (b) The Grantors shall hereby indemnify the Secured Parties, their Affiliates, and their
respective directors, officers, employees, attorneys, agents, advisors and controlling parties in accordance with Section 12.03(b) of the Loan Agreement. 

5.05 Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the respective successors and assigns of
each Grantor, the Control Agent, the Secured Parties Representative, and the Secured Parties (provided that no Grantor shall assign or transfer its rights or obligations hereunder without the prior written consent of the Secured Parties in
accordance with the Loan Agreement. 
 5.06 Counterparts. This Agreement may be executed in any number of counterparts, all of which
taken together shall constitute one and the same instrument and any of the parties hereto may execute this Agreement by signing any such counterpart. 

5.07 Governing Law; Submission to Jurisdiction; Etc. 

(a) Governing Law. This Agreement shall be construed in accordance with and governed by the law of the State of New York, without
regard to principles of conflicts of laws that would result in the application of the laws of any other jurisdiction; provided that Section 5-1401 of the New York General Obligations Law shall apply. 

(b) Submission to Jurisdiction. Each Grantor agrees that any suit, action or proceeding with respect to this Agreement or any other
Loan Document to which it is a party or any judgment entered by any court in respect thereof may be brought initially in the federal or state courts in Houston, Texas or in the courts of its own corporate domicile and irrevocably submits to the
non-exclusive jurisdiction of each such court for the purpose of any such suit, action, proceeding or judgment. This Section 5.07(b) is for the benefit of the Lenders only and, as a result, no Lender shall be prevented from taking
proceedings in any other courts with 

  
 15 

 
jurisdiction. To the extent allowed by applicable Laws, the Secured Parties may take concurrent proceedings in any number of jurisdictions. 

(c) Waiver of Venue. Each Grantor irrevocably waives to the fullest extent permitted by law any objection that it may now or hereafter
have to the laying of the venue of any suit, action or proceeding arising out of or relating to this Agreement and hereby further irrevocably waives to the fullest extent permitted by law any claim that any such suit, action or proceeding brought in
any such court has been brought in an inconvenient forum. A final judgment (in respect of which time for all appeals has elapsed) in any such suit, action or proceeding shall be conclusive and may be enforced in any court to the jurisdiction of
which such Grantor is or may be subject, by suit upon judgment. 
 (d) Service of Process. Each party to this Agreement irrevocably
consents to service of process in the manner provided for notices in Section 5.01. Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 

5.08 WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO
A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO
REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES
HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 5.08. 

5.09 Captions. The captions and section headings appearing herein are included solely for convenience of reference and are not intended
to affect the interpretation of any provision of this Agreement. 
 5.10 Agents and Attorneys in Fact. The Secured Parties may employ
agents and attorneys in fact in connection herewith and shall not be responsible for the negligence or misconduct of any such agents or attorneys in fact selected by it in good faith. 

5.11 Severability. If any provision hereof is invalid and unenforceable in any jurisdiction, then, to the fullest extent permitted by
law, (a) the other provisions hereof shall remain in full force and effect in such jurisdiction and shall be liberally construed in favor of the Secured Parties in order to carry out the intentions of the parties hereto as nearly as may be
possible and (b) the invalidity or unenforceability of any provision hereof in any jurisdiction shall not affect the validity or enforceability of such provision in any other jurisdiction. 

5.12 Additional Grantors. Additional Persons may from time to time after the date of this Agreement become Grantors under this
Agreement by executing and delivering to the 

  
 16 

 
Control Agent a supplemental agreement (together with all schedules thereto, a “Joinder”) to this Agreement, in substantially the form attached hereto as
Exhibit A. Accordingly, upon the execution and delivery of any such Joinder by any such Person, such Person shall automatically and immediately, and without any further action on the part of any Person, become a “Grantor” under
and for all purposes of this Agreement, and each of the Annexes hereto shall be supplemented in the manner specified in such Joinder. In addition, upon the execution and delivery of any such Joinder, the new Grantor makes the representations and
warranties set forth in Section 2. 
 5.13 Limited Agency for Perfection. 

(a) The Secured Parties each hereby appoint Capital Royalty Partners II L.P. as their collateral agent (in such capacity, together with any
successor in such capacity appointed by Capital Royalty Partners II L.P. and consented to by the Majority Lenders (such consent not to be unreasonably withheld or delayed), the “Control Agent”) for the limited purpose of
acting as the agent on behalf of the Secured Parties with respect to the Pledged Property for purposes of the perfecting of the Liens of the Secured Parties on the Pledged Property. The Control Agent accepts such appointment and agrees to hold or to
have control of, as applicable, the Pledged Property for the benefit of itself and the other Secured Parties and any permitted assignee of any thereof solely for the purpose of perfecting the security interest granted to such parties in such Pledged
Property, subject to the terms and conditions of this Section 5.13. All Secured Parties hereby agree that Capital Royalty Partners II L.P. shall have the sole and exclusive right and authority to give instructions to, and otherwise
direct, the Grantors in respect of the Pledged Property and no other Secured Party will hinder, delay or interfere with the exercise of such rights by the Control Agent in any respect. The Grantors hereby agree to pay, reimburse, indemnify and hold
harmless the Control Agent for any claims or losses related to its acting in such role except to the extent due to the gross negligence or willful misconduct of the Control Agent. Except as specifically prescribed herein, the Control Agent shall
have no obligation whatsoever to the other Secured Parties including any obligation to assure that the Pledged Property is genuine or owned by a Grantor or to preserve rights or benefits of any Person except as expressly set forth in this
Section 5.13. In acting on behalf of the other Secured Parties, the duties or responsibilities of the Control Agent under this Section 5.13 shall be limited solely to physically holding the Pledged Property delivered to the
Control Agent by the Grantors and entering into control agreements for the benefit of the Secured Parties for purposes of perfecting the Lien held by the other Secured Parties. 

(b) The Control Agent shall not have by reason of any document including this Agreement a fiduciary relationship in respect of any other
Secured Party. 
 (c) The Control Agent may perform any of its duties under this Agreement by or through their respective officers,
directors, agents, employees, affiliates or other designees. 
 [SIGNATURE PAGES FOLLOW] 

  
 17 

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

					
	GRANTOR:
	
	EXAGEN DIAGNOSTICS, INC., as Grantor
		
	By	 	

		 	  

		 	Name:	 	Fortunato Ron Rocca
		 	Title:	 	Chief Executive Officer

  
 [Signature Page to
Security Agreement] 
 S-1 

									
	SECURED PARTIES:
	
	CAPITAL ROYALTY PARTNERS II L.P., as Secured Party and Control Agent
		 	By CAPITAL ROYALTY PARTNERS II GP L.P., its General Partner
		 		 	By CAPITAL ROYALTY PARTNERS II GP LLC, its General Partner
				
		 		 	By	 	

		 		 		 	  

		 		 		 	Name:	 	Charles Tate
		 		 		 	Title:	 	Sole Member
	
	CAPITAL ROYALTY PARTNERS II – PARALLEL FUND “A” L.P., as Secured Party
		 	By CAPITAL ROYALTY PARTNERS II - PARALLEL FUND “A” GP L.P., its General Partner
		 		 	By CAPITAL ROYALTY PARTNERS II - PARALLEL FUND “A” GP LLC, its General Partner
				
		 		 	By	 	

		 		 		 	  

		 		 		 	Name:	 	Charles Tate
		 		 		 	Title:	 	Sole Member
	
	PARALLEL INVESTMENT OPPORTUNITIES PARTNERS II L.P., as Secured Party
		 	By PARALLEL INVESTMENT OPPORTUNITIES PARTNERS II GP L.P., its General Partner
		 		 	By PARALLEL INVESTMENT OPPORTUNITIES PARTNERS II GP LLC, its General Partner
				
		 		 	By	 	

		 		 		 	  

		 		 		 	Name:	 	Charles Tate
		 		 		 	Title:	 	Sole Member

  
 [Signature Page to
Security Agreement] 
 S-2 

 EXHIBIT A 

to Security Agreement 
 FORM
OF JOINDER AGREEMENT 
 JOINDER AGREEMENT dated as of
[                    ] by [NAME OF ADDITIONAL GRANTOR], a
[                    ] corporation (the “Additional Grantor”), in favor of CAPITAL ROYALTY PARTNERS II L.P., CAPITAL ROYALTY
PARTNERS II – PARALLEL FUND “A” L.P., and PARALLEL INVESTMENT OPPORTUNITIES PARTNERS II L.P. (together, the “Secured Parties” and each, a “Secured Party”) and CAPITAL ROYALTY PARTNERS II
L.P., as Control Agent (the “Control Agent”) under the Loan Agreement referred to below. 
 A. Reference is made to
(i) the Term Loan Agreement (as amended, supplemented, restated, extended, renewed or replaced from time to time, the “Loan Agreement”), dated as of
[            ], 2013, among EXAGEN DIAGNOSTICS, INC., a Delaware corporation (“Borrower”), the other Grantors party thereto and the Secured Parties, and
(ii) the Security Agreement (as amended, supplemented, restated, extended, renewed or replaced from time to time, the “Security Agreement”; capitalized terms used herein by not defined shall have the meaning ascribed to
such terms therein) dated as of [            ], 2013 granted by the Grantors party thereto in favor of the Secured Parties. 

B. Section 5.12 of the Security Agreement provides that additional Persons may from time to time after the date of the Security
Agreement become Grantors under the Security Agreement by executing and delivering to the Secured Parties a supplemental agreement to the Security Agreement in the form of this Joinder. 

C. To induce the Secured Parties to maintain the term loans pursuant to the Loan Agreement, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Additional Grantor has agreed to execute and deliver (i) a Guarantee Assumption Agreement under the Loan Agreement, and (ii) this Joinder to the Secured Parties. 

The Additional Grantor hereby agrees to become a “Grantor” for all purposes of the Security Agreement (and hereby supplements each
of the Annexes to the Security Agreement in the manner specified in Appendix A hereto). Without limitation, as collateral security for the payment in full when due (whether at stated maturity, by acceleration or otherwise) of the Secured
Obligations (other than inchoate indemnity or reimbursement obligations or Warrant Obligations), the Additional Grantor hereby pledges and grants to the Secured Parties as provided in Section 3 of the Security Agreement a security
interest in all of the Additional Grantor’s right, title and interest in, to and under the Collateral of the Additional Grantor, in each case whether tangible or intangible, wherever located, and whether now owned by the Additional Grantor or
hereafter acquired and whether now existing or hereafter coming into existence. In addition, the Additional Grantor hereby makes the representations and warranties set forth in Section 2 of the Security Agreement, with respect to itself
and its obligations under this Agreement, as if each reference in such Sections to the Loan Documents included reference to this Agreement. 

  
 Exhibit A-1 

 [SIGNATURE PAGES FOLLOW] 

  
 Exhibit A-2 

 IN WITNESS WHEREOF, the Additional Grantor has caused this Joinder Agreement to be duly executed
and delivered as of the day and year first above written. 
  

			
	[INSERT NAME OF ADDITIONAL GRANTOR], as Grantor
		
	By	 	  

		 	Name:
		 	Title:

  

									
	CAPITAL ROYALTY PARTNERS II L.P., as Secured Party and Control Agent
		 	By CAPITAL ROYALTY PARTNERS II GP L.P., its General Partner
		 		 	By CAPITAL ROYALTY PARTNERS II GP LLC, its General Partner
				
		 		 	By	 	  

		 		 		 	Name:	 	Charles Tate
		 		 		 	Title:	 	Sole Member
	
	CAPITAL ROYALTY PARTNERS II – PARALLEL FUND “A” L.P., as Secured Party
		 	By CAPITAL ROYALTY PARTNERS II - PARALLEL FUND “A” GP L.P., its General Partner
		 		 	By CAPITAL ROYALTY PARTNERS II – PARALLEL FUND “A” GP LLC, its General Partner
				
		 		 	By	 	  

		 		 		 	Name:	 	Charles Tate
		 		 		 	Title:	 	Sole Member
	
	PARALLEL INVESTMENT OPPORTUNITIES PARTNERS II L.P., as Secured Party
		 	By PARALLEL INVESTMENT OPPORTUNITIES PARTNERS II GP L.P., its General Partner
		 		 	By PARALLEL INVESTMENT OPPORTUNITIES PARTNERS II GP LLC, its General Partner
				
		 		 	By	 	  

		 		 		 	Name:	 	Charles Tate
		 		 		 	Title:	 	Sole Member

  
 Exhibit A-3Exhibit 10.1

PURCHASE AND SALE AGREEMENT

This PURCHASE AND
SALE AGREEMENT (the "Agreement") is made and entered into as of the 16th day of September, 2014 (the "Effective
Date"), by and among INLAND REAL ESTATE INCOME TRUST, INC., a Maryland corporation ("Buyer"), and the
entities set forth on Exhibit A attached hereto and incorporated herein (each, a "Seller" and collectively,
“Sellers”).

RECITALS

1.Each Seller is the
owner of that certain property more particularly described on Exhibit A and Exhibit A-1 attached hereto and incorporated
herein (each, a "Property" and collectively, the "Properties"); further defined to include (for
each Property) items 1-7 on attached Exhibit A.

 

2.Sellers desire
to sell to Buyer, and Buyer desires to purchase from Sellers, the Properties, in three separate closings and upon the terms and
subject to the conditions of this Agreement.

AGREEMENT

NOW, THEREFORE,
in consideration of the mutual covenants herein contained, Sellers and Buyer agree as follows:

ARTICLE
I

Definitions and Rules of Construction

Section
1.1.        Definitions.
For purposes of this Agreement, the following terms shall have the following meanings:

"Acquired
Properties" means, with respect to any Closing, the Properties owned by the Sellers to be acquired at such Closing.

"Action"
means any legal action, government investigation, or similar proceeding, including suits, arbitrations and mediations.

"Aggregate
Net Purchase Price" shall have the meaning set forth in Section 2.2(a).

"Agreement"
shall have the meaning set forth in the preamble.

"Applicable
Laws" means all common law, statutes, ordinances, rules, regulations and Orders of any Governmental Entity applicable
to the Properties or the Sellers.

"Assignment
of Leases" shall have the meaning set forth in Section 3.2(a)(iii).

    	1

    	 

    

 

"Assumed
Financing" means those certain loans encumbering the Properties identified on Exhibit A, which Buyer intends to
assume in connection with a Closing, and any other loans encumbering the Properties which Buyer intends to assume following notice
to Sellers pursuant to Section 2.4.

"Authorization"
means any authorization, approval, consent, certificate, license, permit or franchise of or from any Governmental Entity or pursuant
to any Applicable Law.

"Bay Park
Closing" shall have the meaning set forth in Section 3.1(e).

"Bay Park
Opt-Out Expiration Date" shall have the meaning set forth in Section 3.1(e).

"Bay Park
Property" means the Property identified as "Village at Bay Park" on Exhibit A.

"Bay Park
Purchase Price" shall mean the amount of $19,700,045.

"Bay Park
Seller" means the Seller of the Village at Bay Park Property.

"Bay Park
Seller's Opt-Out Notice" shall have the meaning set forth in Section 3.1(e).

"Business
Day" means a day other than a Saturday, Sunday or national holiday on which commercial banks in Indianapolis, Indiana
are authorized or required by law to close.

"Buyer"
shall have the meaning set forth in the preamble.

"Buyer Ancillary
Documents" shall have the meaning set forth in Section 4.3(b).

"Buyer Closing
Documents" shall have the meaning set forth in Section 3.2(b).

"Buyer's
Bay Park Notice" shall have the meaning set forth in Section 3.1(e).

"Buyer's
Expenses" means, except as provided otherwise in this Agreement, Buyer's attorneys' fees, all loan assumption costs, all
prepayment and defeasance costs for loans not assumed, all costs of endorsements to any owner’s policies of title insurance
and the premium for any lender’s policies of title insurance or endorsements thereto, Buyer's due diligence costs, including
the costs of any Surveys, environmental reports, appraisals, or any other due diligence items and one-half of all escrow
and closing costs charged by the Escrow Agent.

"Buyer's
Representatives" shall have the meaning set forth in Section 5.2.

"Buyer's
Title Notice" has the meaning set forth in Section 9.2.

"Casualty"
shall have the meaning set forth in Section 9.6.

    	2

    	 

    

 

"CERCLA"
shall have the meaning set forth in Section 8(b).

"Closing"
or "Closings" means, as applicable in the particular context, either (a) individually, the First Closing, the
Second Closing or the Bay Park Closing, or (b) collectively, the First Closing, the Second Closing and the Bay Park Closing.

"Closing
Survey Certificate" shall have the meaning set forth in Section 3.2(a)(xi).

"Contracts"
shall have the meaning set forth in Exhibit A.

"Disclosure
Notice" shall have the meaning set forth in Section 4.6.

"Disclosures"
shall have the meaning set forth in Section 8(a).

"Earnest
Money" shall have the meaning set forth in Section 2.3.

"Effective
Date" shall have the meaning set forth in the preamble.

"Effective
Time" shall have the meaning set forth in Section 3.1(b).

"Escrow"
shall have the meaning set forth in Section 3.1(b).

"Escrow
Agent" means Chicago Title Insurance Company, 10 South LaSalle Street, Suite 3100, Chicago, Illinois 60603, attention:
Nancy Castro, Vice President (phone: 312-223-2709) (facsimile: 312-223-3409).

"FATF"
shall have the meaning set forth in Section 4.1(i).

"First Closing"
shall have the meaning set forth in Section 3.1(c).

"First Closing
Sellers" means the Sellers of the Properties that will be included in the First Closing.

"First Closing
Purchase Price" shall have the meaning set forth in Section 3.1(a).

"General
Assignment" shall have the meaning set forth in Section 3.2(a)(iv).

"Governmental
Entity" means any government, governmental entity, department, commission, board, agency or instrumentality, and any court,
tribunal, or judicial or arbitral body, whether, federal, state or local.

    	3

    	 

    

 

"Hazardous
or Toxic Materials" means any substance or material which is (i) designated, defined, classified or regulated as a hazardous
substance, hazardous material, hazardous waste, pollutant or contaminant under any Applicable Laws, as currently in effect as of
the date of this Agreement, (ii) petroleum hydrocarbon, including crude oil or any fraction thereof and all petroleum products
or materials and substances containing petroleum or other hydrocarbons, (iii) PCBs, (iv) lead, (v) friable asbestos, (vi) flammable
explosives, (vii) infectious materials or (viii) radioactive materials.

"Impositions"
shall have the meaning set forth in Section 3.4(a)(ii).

"Indemnified
Parties" shall have the meaning set forth in Section 5.2(d).

"Information"
shall have the meaning set forth in Section 11.11.

"Intangible
Property" shall have the meaning set forth in Exhibit A.

“Kite Estoppel”
shall have the meaning set forth in Section 6.1(g).

"Knowledge
Individuals" shall have the meaning set forth in Section 4.2.

"Knowledge
of Seller" has the meaning set forth in Section 4.2.

"Leases"
shall have the meaning set forth in Exhibit A.

"Leasing
Costs" shall have the meaning set forth in Section 3.2(b)(vii).

"Liens"
means mortgages or deeds of trust, adverse claims, judgment liens, mechanic's or materialmen's liens, liens evidencing delinquent
taxes or assessments, security interests, pledges and other liens of similar nature.

"Losses"
shall have the meaning set forth in Section 5.2(d).

“Major
Tenant” shall have the meaning set forth in Section 6.1(f).

"Merger
Date" shall mean July 1, 2014.

"OFAC"
shall have the meaning set forth in Section 4.1(i).

"Order"
means any award, injunction, judgment, decree, order, ruling, subpoena or verdict or other decision issued, promulgated or entered
by or with any Governmental Entity of competent jurisdiction.

“Permitted
Exceptions” shall have the meaning set forth in Section 6.1(c).

    	4

    	 

    

 

"Person"
means any individual or entity (including partnerships, corporations, limited liability companies, trusts and Governmental Entities).

"Personal
Property" shall have the meaning set forth in Exhibit A.

“Preapproved
Leases” shall have the meaning set forth in Section 3.4(b)(vii).

"Property"
shall have the meaning set forth in the Recitals.

"Properties"
shall have the meaning set forth in the Recitals.

"Purchase
Price" shall mean the amount of $318,130,576 in gross and, with respect to an individual Property, the amount indicated
on Exhibit A for that Property. For purposes of clarity, Buyer and Sellers agree that the total amount of the Purchase Price
shall not include the Bay Park Purchase Price.

"Purchase
Right" shall have the meaning set forth in Section 6.1(e).

"Real Estate"
shall have the meaning set forth in Exhibit A.

"Reimbursable
Amounts" shall have the meaning set forth in Section 9.6.

“Rent Roll”
shall have the meaning set forth in Section 3.4(b)(vii).

"Second
Closing" has the meaning set forth in Section 3.1(d).

"Second
Closing Sellers" means the Sellers of the Properties which will be included in the Second Closing.

"Second
Closing Purchase Price" means the sum of the individual Purchase Prices for each Property included in the Second Closing.

"Seller"
shall have the meaning set forth in the preamble.

"Seller
Closing Documents" shall have the meaning set forth in Section 3.2(a).

"Seller's
Negative Title Notice" has the meaning set forth in Section 9.3.

"Sellers'
Expenses" means, except as provided otherwise in this Agreement, Sellers’ attorneys' fees, the title insurance premiums
for the owner’s policies of title insurance, any search and exam fees for the title commitments, substitution costs for replacing
the Property labeled “Whispering Ridge” on Exhibit A with respect to the loan in connection with Whispering
Ridge, any Transfer Taxes (provided that Buyer shall work with Sellers to minimize such Transfer Taxes), and one-half of
all escrow and closing costs charged by the Escrow Agent.

"Sellers"
shall have the meaning set forth in the preamble.

    	5

    	 

    

 

"Sellers
and/or their Affiliates" shall have the meaning set forth in Section 8(b).

"Survival
Period" shall have the meaning set forth in Section 4.5.

"Taking"
shall have the meaning set forth in Section 9.5.

"Title Commitments"
shall have the meaning set forth in Section 9.1.

"Title Company"
shall mean the Escrow Agent.

"Transfer
Taxes" means sales, use, transfer, real property transfer, recording, documentary, stamp, registration, stock, deed or
other transfer taxes and fees payable in connection with the transactions contemplated by this Agreement.

"Trued-Up
Additional Rents" shall have the meaning set forth in Section 3.2(b)(ix).

"USA Patriot
Act" has the meaning set forth in Section 4.1(i).

"Unpermitted
Exceptions" has the meaning set forth in Section 9.2.

“Vacant
Space” shall have the meaning set forth in Section 3.4(b)(vii).

Section
1.2.        Rules of
Construction.

(a)            
Elements of this Agreement; Schedules. When a reference is made in this Agreement to a Recital, an Article, a Section,
an Appendix, an Exhibit or a Schedule, such reference is to a Recital, Article or Section of, or a Schedule, Appendix or Exhibit
to, this Agreement, unless otherwise indicated. All Schedules, Appendices and Exhibits attached to this Agreement and referred
to herein are incorporated in and made a part of this Agreement as if set forth in full herein. Any capitalized terms used in any
Schedule, Appendix or Exhibit but not otherwise defined therein shall have the meaning given to such term in this Agreement.

(b)           
Meaning of "Include" and Variations Thereof. Whenever the words "include," "includes"
or "including" are used in this Agreement, they shall be understood to be followed by the words "without limitation."

(c)            
Use of Pronouns. Pronouns, including "he," "she" and "it," when used in reference to
any person, shall be deemed applicable to entities or individuals, male or female, as appropriate in any given case.

(d)           
Headings. Article, Section and other headings contained in this Agreement are for reference purposes only and are
not intended to describe, interpret, define or limit the scope, extent or intent of any provision of this Agreement.

(e)            
Obligations of Good Faith and Commercial Reasonableness. The parties shall perform their obligations hereunder in
good faith and, except to the extent that a party is expressly authorized to act otherwise (such as a provision authorizing a party
to make a decision in its sole discretion), the parties shall act in a commercially reasonable manner.

    	6

    	 

    

ARTICLE
II

Purchase and Sale of the Properties

Section
2.1.        Purchase
and Sale. Upon the terms and subject to the conditions of this Agreement, each Seller shall sell, assign, transfer, convey
and deliver to Buyer, and Buyer shall purchase from each Seller, all right, title and interest in, to and under the Properties,
in three (3) individual Closings, as follows:

(a)            
effective as of the Effective Time for the First Closing, the Properties of the First Closing Sellers;

(b)           
effective as of the Effective Time for the Second Closing, the Properties of the Second Closing Sellers; and

(c)            
effective as of the Effective Time for the Bay Park Closing, the Bay Park Property.

Section
2.2.        Purchase
Price.

(a)            
Aggregate Net Purchase Price. Upon the terms and subject to the conditions of this Agreement, the aggregate net
purchase price to be paid by Buyer to Sellers for the Properties shall be (x) the sum of (i) the First Closing Purchase Price,
(ii) the Second Closing Purchase Price and (iii) the Bay Park Purchase Price, minus (y) the amount of the then-principal balance
of the aggregate Assumed Financing, together with accrued and unpaid interest thereon, actually assumed by Buyer at a Closing (the
"Aggregate Net Purchase Price"). The relevant portion of the Aggregate Net Purchase Price shall be paid at each
individual Closing as set forth in Sections 2.2(b), (c), (d) and (e).

(b)           
First Closing. At the First Closing, Buyer shall deliver to the Escrow Agent an amount in cash by wire transfer equal
to the First Closing Purchase Price, net of the then-current principal balance of any applicable Assumed Financing, together with
any accrued and unpaid interest thereon, actually assumed.

(c)            
Second Closing. At the Second Closing, Buyer shall deliver to the Escrow Agent an amount in cash by wire transfer
equal to the Second Closing Purchase Price, net of the then-current principal balance of any applicable Assumed Financing, together
with any accrued and unpaid interest thereon, actually assumed.

(d)           
Bay Park Closing. At the Bay Park Closing, Buyer shall deliver to the Escrow Agent an amount equal to the Bay Park
Purchase Price, net of the then-current principal balance of any applicable Assumed Financing, together with any accrued and unpaid
interest thereon, actually assumed.

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(e)            
General. Each of the First Closing Purchase Price, the Second Closing Purchase Price and the Bay Park Purchase Price,
is subject to off-sets, credits and pro-rations as set forth in this Agreement.

Section
2.3.        Earnest Money.
Within three (3) business days after the Effective Date, Buyer shall deliver to Seller an earnest money deposit of Five Hundred
Thousand and No/100 Dollars ($500,000.00) (the “Earnest Money”). The Earnest Money shall be non-refundable (except
in the instance of a default by Sellers under this Agreement and Sellers’ failure to cure such default) and will be distributed
to Sellers upon any termination of this Agreement as independent consideration for Sellers’ performance under this Agreement.
At the First Closing, one half of the Earnest Money shall be applicable to the First Closing Purchase Price as a credit and shall
then be deemed nonrefundable under any circumstances, and at the Second Closing, the other half of the Earnest Money shall be applicable
to the Second Closing Purchase Price as a credit.

Section
2.4.        Assumed Financing.
Sellers and Buyer acknowledge that, at the applicable Closing, Buyer will assume the loans encumbering the Properties identified
on Exhibit A as “Eastside Junction” and “Harvest Square”. Buyer shall have the right to also assume
the loans encumbering any other Property, so long as (i) Buyer gives Sellers written notice of Buyer’s intention to assume
a particular loan no later than thirty (30) days after the Effective Date, and (ii) the loan assumption process does not materially
delay the applicable Closing for the Property for which the loan is being assumed.

ARTICLE
III

The ClosingS

Section
3.1.        Property
Selection; Closings; Effective Time.

(a)            
Properties 1-9 (described upon Exhibit A) will be included in the First Closing. The sum of the individual Purchase
Prices for each of the Properties sold at the First Closing shall be considered the “First Closing Purchase Price”.
The remaining Properties (other than the Bay Park Property) shall be included in the Second Closing.

(b)           
Each individual Closing of the purchase and sale of the Properties shall take place in an escrow facilitated by the Escrow
Agent (each, an "Escrow"). Each individual Closing shall take place pursuant to separate written escrow closing
instructions consistent with this Agreement, customarily used in similar transactions, and mutually agreeable to Buyer and Escrow
Agent, and separately, Sellers and the Escrow Agent and signed by them or their respective counsel in advance of the date of the
Closing. The purchase and sale of the Properties shall be effective as of 12:01 a.m. on the date of each Closing (the "Effective
Time").

(c)            
The first closing of the purchase and sale of the Properties shall occur on December 15, 2014 (such date hereinafter referred
to as the "First Closing").

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(d)           
The second closing for the purchase and sale of the Properties shall occur on March 16, 2015, or on a sooner date in the
sole discretion of Sellers with at least twenty (20) days’ written notice to Buyer (such date hereinafter referred to as
the "Second Closing").

(e)            
The third closing for the purchase and sale of the Bay Park Property shall occur on June 15, 2015 (such date hereinafter
referred to as the "Bay Park Closing"). Notwithstanding the foregoing, Buyer shall have the right to either (i)
opt out of the Bay Park Closing for any reason or for no reason at all, or (ii) irrevocably commit to purchasing the Bay Park Property
by providing the Bay Park Seller and Escrow Agent with written notice ("Buyer's Bay Park Notice") of Buyer's decision
to either opt out of the Bay Park Closing or irrevocably commit to purchasing the Bay Park Property by 5:00 p.m., Indianapolis,
Indiana local time on June 8, 2015 (the "Bay Park Opt-Out Expiration Date"). The Bay Park Seller may elect to
withdraw the Bay Park Property from the Bay Park Closing for any reason or for no reason at all by providing Buyer and Escrow Agent
with written notice (the "Bay Park Seller's Opt-Out Notice") of the Bay Park Seller's decision to opt out of the
Bay Park Closing, provided that the Bay Park Seller delivers the Bay Park Seller's Opt-Out Notice to Buyer and Escrow Agent before
the earlier of (i) the date the Bay Park Seller receives Buyer's Bay Park Notice, or (ii) the Bay Park Opt-Out Expiration Date.

(f)            
The Escrow Agent will close each Escrow on the date of each individual Closing if all of the closing conditions set forth
in Article VI have been satisfied (or any unsatisfied closing condition has been waived in writing by the party who is the
direct beneficiary of the waived condition).

Section
3.2.        Transactions
to be Effected. At each individual Closing:

(a)            
The applicable Seller shall execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, to the
Escrow Agent (collectively, the “Seller Closing Documents”):

(i)             
a limited or special warranty deed in a form reasonably acceptable to Sellers and Buyer, subject to the
Permitted Exceptions;

(ii)           
a bill of sale in a form of Exhibit B attached hereto;

(iii)         
an assignment and assumption agreement as to the Leases, in the form of Exhibit
C attached hereto (the “Assignment of Leases”);

(iv)         
an assignment and assumption agreement as to the Contracts and Intangible Property,
in the form of Exhibit D attached hereto (the “General Assignment”);

(v)           
a certificate stating such Seller’s U.S. taxpayer identification number and that Seller is not a foreign person within
the meaning of Section 1445 of the Internal Revenue Code;

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(vi)         
a notice, which Buyer may send to each of the tenants of an Acquired Property informing the tenants of the sale of the Property
and directing that all rent and other sums payable under such tenant's lease or sublease is to be paid as set forth in the notice;

(vii)       
a vendor’s certificate in form acceptable to Seller and sufficient for the Title Company to delete the standard "non-survey"
exceptions from each owner's policy of title insurance; such evidence of such Seller’s power and authority; and such other
documents and agreements as the Title Company may reasonably require in order to issue each owner’s policy of title insurance;

(viii)     
a closing statement;

(ix)         
all keys, access codes or combinations applicable to the Property;

(x)           
a rent roll for each Acquired Property certified as of the applicable Closing as true and correct to Seller’s knowledge
prepared by Seller;

(xi)         
a certificate (the "Closing Survey Certificate") stating that, since the Merger Date, Seller has not modified
the boundaries of the Property or materially modified the exterior of any buildings on the Property, or to the extent that such
modifications have been made, a disclosure statement regarding the same;

(xii)       
any additional documents Title Company may reasonably require for the proper consummation of the transactions contemplated
by this Agreement or that may be usual and customary in closing similar transactions in the state in which such Property is located
(including, as applicable, (i) all transfer declarations, (ii) such forms, if any, as may be required to provide for withholding
from Sellers net proceeds of sale as required to comply with taxation requirements of each jurisdiction in which a Property is
located, and (iii) a bulk sales stop order (or like documentation) issued by the Department of Revenue of each state);

(xiii)     
as applicable to such Closing, the documentation required to be executed and delivered in connection with the assumption
by Buyer of any Assumed Financing;

(xiv)      
a certificate reaffirming as of the applicable Closing the representations and warranties of such Seller set forth in this
Agreement, subject to any disclosures or modifications; and

(xv)        
such other documents and certificates as Buyer or its counsel may reasonably request at no material cost or liability to
Sellers to consummate the transactions contemplated by this Agreement.

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(b)           
Buyer shall execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, to the Escrow Agent (collectively,
the “Buyer Closing Documents”):

(i)             
a certificate reaffirming as of the applicable Closing the representations and warranties of Buyer set forth in this Agreement,
subject to any disclosures or modifications;

(ii)           
a counterpart to each Assignment of Leases;

(iii)         
a counterpart to each General Assignment;

(iv)         
a closing statement;

(v)           
any additional documents Title Company may reasonably require for the proper consummation of the transactions contemplated
by this Agreement or that may be usual and customary in closing similar transactions in the state in which such Property is located;

(vi)         
as applicable to such Closing, the documentation required to be executed and delivered in connection with the assumption
by Buyer of any Assumed Financing; and

(vii)       
 such other documents and certificates as Sellers or their counsel may reasonably request at no material cost or liability
to Buyer to consummate the transactions contemplated by this Agreement.

(c)            
Buyer and Sellers shall execute, acknowledge and deliver, or cause to be executed, acknowledged and delivered, to the Escrow
Agent such documents as the Title Company may reasonably require to establish the authority of Buyer and Sellers, respectively,
to complete the Closing.

Section
3.3.        Closing Costs.
At each individual Closing, Buyer shall pay the Buyer's Expenses and Seller shall pay the Sellers' Expenses.

Section
3.4.        Credits and
Prorations.

(a)            
The following items shall be apportioned with respect to each Property, on a Property-by-Property basis, as of 11:59 p.m.
on the day immediately preceding the date of the First Closing, the Second Closing or the Bay Park Closing, as applicable, on the
basis of the actual number of days of the month which shall have elapsed as of the applicable Closing date and based upon the actual
number of days in the month and a 365-day year and shall be set forth on a proration schedule prepared by Sellers and submitted
to Buyer for its review and approval at least five (5) Business Days prior to the applicable Closing:

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(i)             
scheduled rents from and including the date of Closing through the end of the month in which Closing occurs, (the term “rents”
as used in this Agreement includes all payments due and payable by tenants under the Leases, including, without limitation, fixed
rents, additional rents, percentage rents, escalation payments, and payments on account of real estate taxes, common area maintenance
and other operating expenses), subject to the provisions of Sections 3.4(b)(viii) and 3.4(b)(ix) below;

(ii)           
all taxes, assessments and other impositions (including ad valorem and other real estate taxes, personal property taxes,
water rates and sewer rents) assessed, imposed or charged upon or with respect to each Property or any component thereof (collectively,
“Impositions”), in accordance with the provisions of Sections 3.4(b)(ii) below;

(iii)         
all amounts payable under the Contracts;

(iv)         
gas, electricity and other utility charges (if any) for which each Seller is liable, such charges to be apportioned at Closing
on the basis of the most recent meter reading occurring prior to Closing or, if unmetered, on the basis of a current bill for each
such utility;

(v)           
permit, license and inspection fees, if any, on the basis of the calendar year for which levied;

(vi)         
fuel, if any, at the cost per gallon most recently charged to each Seller, based on the supplier’s measurements thereof,
plus sales tax thereon, which measurements shall be given by Sellers to Buyer as close to the applicable closing date as is reasonably
practicable, and which, absent manifest error, shall be conclusive and binding on Sellers and Buyer;

(vii)       
deposits on account with any utility company servicing a Property to the extent transferred to Buyer shall not be apportioned,
but Sellers shall receive a credit in the full amount thereof, including accrued interest, if any; and

(viii)     
any other operating expenses or other items pertaining to a Property which are customarily prorated between a Buyer and
a seller of a similar property in the area in which such Property is located.

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(b)           
Notwithstanding anything contained in the foregoing provisions:

(i)             
At each Closing, (A) the First Closing Sellers, the Second Closing Sellers or the Bay Park Seller, as applicable, shall,
at such Sellers’ option, either deliver to Buyer any security deposits reflected in the Leases and not previously applied
before the Merger Date or thereafter up through the applicable Closing, or credit to the account of Buyer the amount of such security
deposits, and (B) Buyer shall credit to the account of such Sellers all refundable cash or other deposits posted with utility companies
serving a Property (solely in the event Buyer receives an acknowledgement of transfer of such deposits from the utility service
provider), or, at Sellers’ option, such Sellers shall be entitled to receive and retain such refundable cash and deposits.

(ii)           
Impositions shall be apportioned on the basis of the fiscal year for which the same are assessed, imposed, charged or became
a lien, and otherwise in accordance with the provisions of this subsection; in all events, Impositions for which a bill or invoice
has been issued attributable to any period prior to a Closing shall be fully-paid and satisfied as of the individual Closing and
any and all accrued but not billed or invoiced Impositions attributable to any period prior to a Closing shall be credited to Buyer
at an individual Closing with Seller responsible for payment or credit to Buyer of all Impositions for each day of the Properties’
ownership by Sellers without regard to billing period. If, as of the applicable Closing, the Impositions for a Property for the
fiscal year in which the applicable Closing date occurs have not been finally determined, then (i) the apportionment made at the
applicable Closing shall be upon the basis of the most recent rates thereof determined at the maximum discount rate allowed in
the applicable jurisdiction, and (ii) promptly after the Impositions for such Property are finally determined, such apportionment
shall be recomputed. Refunds of Impositions received by either a Seller or Buyer after the Closing shall be attributed to the fiscal
year to which they relate, and the following provisions shall apply: (i) any such refund of Impositions attributed to any fiscal
year ending prior to the applicable Closing shall belong to the applicable Seller (and if received by Buyer shall be paid to the
applicable Seller when received), subject to the rights of tenants under Leases; and (ii) any such refund of Impositions received
by the applicable Seller or Buyer attributed to the fiscal year in which the applicable Closing occurs (less reasonable attorneys’
fees and other expenses incurred in obtaining such refund), shall be apportioned between the applicable Seller and Buyer, when
received, as hereinabove provided based upon the period of ownership, subject to the rights of tenants under Leases. To the extent
that any tenant pays its Imposition obligations directly to the taxing authority, the portion of such Impositions attributable
to such tenant shall not be prorated hereunder and Buyer shall not receive a credit at the applicable Closing with respect thereto.

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(iii)         
Charges referred to in Section 3.4(a) hereof that are payable by any tenant under a Lease directly to a third party
shall not be apportioned hereunder, and Buyer shall accept title subject to any of such charges unpaid and Buyer shall look solely
to the tenant responsible therefor for the payment of the same. If a Seller shall have paid any of such charges on behalf of any
tenant, and shall not have been reimbursed therefor by the time of the applicable Closing, Buyer shall bill the tenant for the
amount due and remit same to Seller promptly upon receipt.

(iv)         
Sellers shall receive the entire advantage (prorated for its period of ownership) of any discounts for the prepayment by
it of any taxes, water rates or sewer charges.

(v)           
As to gas, electricity and other utility charges referred to in Section 3.4(a)(iv) hereof, Sellers shall use
reasonable efforts to obtain readings of meters measuring utility consumption at the Properties (other than utilities which are
the responsibility of tenants under Leases in effect as of the applicable Closing date) for all periods through (and including)
the date preceding the applicable Closing date. Sellers shall pay, and be responsible, for all bills rendered on the basis of such
readings. If such readings are not obtained for any metered utility, then, at the applicable Closing, apportionment shall be made
on the basis of the most recent period for which such readings are available. Upon the taking of subsequent actual readings, there
shall be a recalculation of the applicable utility charges, and Sellers or Buyer, as the case may be, shall promptly remit to the
other party hereto any amounts to which such party shall be entitled by reason of such recalculation (with Sellers being obligated
to pay all such utility charges pertaining to the period through the day prior to the applicable Closing date, and Buyer being
obligated to pay all such utility charges pertaining to the period thereafter). Unmetered water charges or sewer charges shall
be apportioned on the basis of the charges therefor for the same period during the previous calendar year, but applying the current
rate thereto. As to any utility charges or sewer charges payable by tenants, Buyer shall close title and accept the delivery of
the deeds for the Properties subject to such unpaid charges and any lien resulting therefrom, without credit against the Aggregate
Net Purchase Price or any claim or right of action against Sellers. All non-transferable utilities will be terminated by Sellers
at or prior to the applicable Closing.

(vi)         
Seller shall pay to the applicable governmental authority the amount of any and all sales or similar taxes payable in connection
with the Personal Property related to such Seller’s Property and Seller shall execute and deliver any tax returns required
of it in connection therewith, said obligations of Seller to survive Closing.

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(vii)       
Sellers shall be responsible for all Leasing Costs (as hereinafter defined) that are payable by reason of (a) the execution
of the Leases for tenants listed in Exhibit H attached hereto and incorporated herein (“Preapproved Leases”),
(b) the execution of a Lease which occurs prior to the applicable Closing date for a new tenant which replaces or backfills a space
or spaces occupied by any of the tenants listed on the rent roll attached hereto and incorporated herein as Exhibit F (the
“Rent Roll”), and (c) the exercise by a tenant listed on the Rent Roll of any renewal, extension, or other option
expressly set forth in such tenant’s Lease, which exercise occurs prior to the applicable Closing date. Subject to Buyer’s
approval set forth in Section 5.1(a) (whether actually given or deemed given pursuant to Section 5.1(a)), Buyer shall
be responsible for all Leasing Costs that will result in an increase to net operating income, such as but not limited to (x) the
execution of any Leases for space marked as “VACANT” on the Rent Roll (a “Vacant Space”), and (y)
any new lease or amendment to an existing Lease with a tenant referenced in the Rent Roll that increases the amount of space or
the rent, or both, provided that the Leasing Costs for item (y) shall be equitably prorated between Buyer and Sellers attributable
to the increase in net operating income as mutually agreed upon by the parties at the time of the approval of such transaction
by Buyer. At Closing, Seller shall credit Buyer against the Purchase Price for any Leasing Costs that are such Seller’s responsibility
pursuant to this Section 3.4(b)(vii) and which remain unpaid as of the Closing date. Furthermore, to the extent that a Seller
has paid any Leasing Costs that are Buyer’s responsibility pursuant to this Section 3.4(b)(vii), the Purchase Price
for such Property shall be increased at the applicable Closing by the amount paid. For purposes hereof, “Leasing Costs”
shall mean, with respect to a particular Lease, all capital costs, expenses incurred for capital improvements, equipment, painting,
decorating, partitioning and other items to satisfy the construction obligations of the landlord under such Lease (including any
expenses incurred for architectural or engineering services in respect of the foregoing), “tenant allowances” in lieu
of or as reimbursements for the foregoing items, payments made for purposes of satisfying or terminating the obligations of the
tenant under such Lease to the landlord under another lease (i.e., lease buyout costs), relocation costs, temporary leasing costs,
leasing commissions, brokerage commissions, legal, design and other professional fees and costs, in each case, to the extent the
landlord is responsible for the payment of such cost or expense under the relevant Lease or any other agreement relating to such
Lease.

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(viii)     
Unpaid and delinquent rent or other charges collected by a Seller or Buyer after the date of each applicable Closing shall
be delivered as follows: (a) if, after a Closing a Seller collects any unpaid or delinquent rent for a Property, such Seller shall,
within fifteen (15) days after the receipt thereof, deliver to Buyer any such rent which Buyer is entitled to hereunder relating
to the date of the applicable Closing and any period thereafter, and (b) if Buyer collects any unpaid or delinquent rent from a
Property, Buyer shall, within fifteen (15) days after the receipt thereof, deliver to Seller any such rent which the applicable
Seller is entitled to hereunder relating to the period prior to the date of the applicable Closing. Any rents collected by a Seller
or Buyer after the applicable Closing from any tenant who owes rents for periods prior to the applicable Closing shall be applied
as follows: (i) first, to the extent that the payment of rents is specifically earmarked by a tenant for a particular month, then
in payment of rents owed by such tenant for that particular month; (ii) second, in payment of rents owed by such tenant for the
month in which the applicable Closing date occurs, (iii) third, in payment of rents owed by such tenant for all periods after the
month in which the applicable Closing date occurs, (iv) fourth, in payment of rents then owed by such tenant for any period prior
to the month in which the applicable Closing date occurs. Each such amount, less any costs of collection (including reasonable
attorney fees) reasonably allocable thereto, shall be adjusted and prorated as provided above, and the party who receives such
amount shall promptly pay over to the other party the portion thereof to which it is so entitled. Buyer will make a good faith
effort after the applicable Closing to bill for and collect all rents in the usual course of Buyer’s operation of the Property,
but Buyer shall not be obligated to institute any lawsuit or other collection procedures to collect delinquent rents.

(ix)         
If there are any rents or other charges under the Leases which, although relating to a period prior to the applicable Closing,
do not become due and payable until after the applicable Closing or are paid prior to the applicable Closing but are subject to
adjustment after the applicable Closing (such as year-end common area expense reimbursements, percentage rent, operating expense
and real estate taxes and the like), then any rents or charges of such type received by Buyer or its agents or Sellers or their
agents subsequent to the applicable Closing shall, to the extent applicable to a period extending prior to and after the Closing,
be prorated between Sellers and Buyer when received by a Seller or Buyer, as applicable, in accordance with a Seller's or Buyer's
period of ownership. Without limiting the generality of the foregoing, to the extent that any portion of the rent or other charges
(collectively, “Trued-Up Additional Rents”) payable under the Leases is required to be paid by the tenants thereunder
in monthly or other installments on account of estimated amounts for any calendar year (or, if applicable, any other applicable
accounting period), and at the end of such calendar year (or other applicable accounting period, as the case may be), such estimated
amounts are to be recalculated based upon the actual expenses, taxes

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and other relevant
factors for that calendar year or other applicable accounting period, with the appropriate adjustments being made with such tenants,
then the Trued-Up Additional Rents shall initially be prorated between Sellers and Buyer at the applicable Closing based on such
estimated payments actually paid by such tenants; provided, however that under no circumstance whatsoever shall Buyer be obligated
to provide a credit to Sellers (at Closing or otherwise) for delinquent charges outstanding as of the applicable Closing date.
At the time(s) of final calculation and collection from (or refund to) each tenant of the amounts in reconciliation of actual Trued-Up
Additional Rents for a period for which estimated amounts paid by such tenant have been prorated as described above, there shall
be a re-proration between the applicable Seller and Buyer. If, with respect to any such tenant, the recalculated Trued-Up Additional
Rents exceed the estimated amount paid by such tenant, upon collection from the tenant, (i) the entire excess shall be paid by
Buyer to the applicable Seller, if the accounting period for which such recalculation was made expired prior to the applicable
Closing and (ii) such excess shall be apportioned between the applicable Seller and Buyer as of the applicable Closing date, if
the applicable Closing occurred during the accounting period for which such recalculation was made, with Buyer paying to the applicable
Seller the portion of such excess which such Seller is so entitled to receive. If, with respect to any such tenant, the recalculated
Trued-Up Additional Rents are less than the estimated amount paid by such tenant, (1) the entire shortfall (to the extent received
by a Seller) shall be paid by such Seller to Buyer (or, at such Seller’s option, directly to the tenant in question), if
the accounting period for which such recalculation was made expired prior to the applicable Closing and (2) such shortfall shall
be apportioned between the applicable Seller and Buyer as of the applicable Closing date, if the applicable Closing occurred during
the accounting period for which such recalculation was made, with the applicable Seller paying to Buyer (or, at such Seller’s
option, directly to the tenant in question) the portion of such shortfall so allocable to such Seller (to the extent received by
such Seller). Buyer and Sellers shall make their books and records (including, without limitation, any gross sales reports and
other back-up documentation necessary to calculate percentage rent and other income and expenses) available to each other to the
extent necessary in order to carry out the intent of the forgoing provisions and shall cooperate with each other in connection
therewith.

(c)            
If a post-closing true-up is necessary, Buyer shall work diligently with Seller to finalize the prorations as soon as possible,
but in no event later than one-hundred and eighty (180) days after the close of the applicable calendar year (or other applicable
accounting period). Buyer shall be responsible for billing and collecting, if necessary, any amounts owed by tenants as a result
of the true-up. Any discrepancy resulting from any errors or omissions in computing the foregoing apportionments, at the applicable
Closing or upon any re-computation, shall be promptly corrected, so long as notice of same is given to the other party in writing
within twelve (12) months of the applicable closing date.

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ARTICLE
IV

Representations and Warranties

Section
4.1.        Representations
and Warranties of Seller. Except for any fact, information or condition disclosed to Buyer or otherwise known by Buyer prior
to each individual Closing, each Seller, individually (but not jointly or severally with other Sellers) with respect only to itself
and its Property, represents and warrants to Buyer as follows (provided however that after the Property owned by a Seller has been
sold and conveyed to Buyer, Seller shall not be required, at any subsequent Closing, to make or reaffirm any representation or
warranty regarding such Seller or the Property that was owned by such Seller):

(a)            
Organization, Standing and Power. Seller is duly organized, validly existing and, to the extent applicable, in good
standing as a limited liability company under the laws in which it was organized, and, except to the extent that would not reasonably
be expected to have a material adverse effect on Seller, is duly qualified in all jurisdictions in which the nature of its business
or the ownership, lease or operation of its assets makes such qualification necessary. Seller has the requisite limited liability
company power and authority to own its respective Property and to carry on its business.

(b)           
Authority. Seller has all requisite limited liability company power and authority to execute and deliver each agreement,
instrument or document to be executed and delivered by Seller pursuant hereto or in connection herewith, to perform its obligations
hereunder and thereunder and to consummate the transactions contemplated hereby and thereby.

(c)            
Compliance with Applicable Laws. Since the Merger Date, Seller has not received any written notice of any asserted
violation of any Applicable Law or pending investigation or review by any Governmental Entity with respect to Seller or any of
its Properties or any written notice that any such investigation or review is contemplated.

(d)           
Litigation; Decrees. Except as disclosed on Exhibit E, to the Knowledge of Seller, since the Merger Date,
no Actions have been initiated or threatened in writing that would materially affect Seller or Seller’s Property or the transactions
contemplated hereby or that would prevent or materially hinder the performance by Seller of its obligations under this Agreement
or the completion of the transactions contemplated hereby.

(e)            
Leases. Except for the tenants listed on the rent roll attached hereto and incorporated herein as Exhibit F,
there are no other tenants that have leases or occupancy agreements to which Seller is a party affecting each Property of Seller.
Seller has heretofore delivered or made available to Buyer a true and correct copy of each Lease (including all amendments thereto)
that is in such Seller’s possession or reasonable control.

(f)            
Contracts. Attached hereto as Exhibit G is a list of all Contracts itemized by Property, which, to Seller’s
knowledge, were in effect as of the Merger Date. Since the Merger Date, Seller has not modified or amended any Contracts or entered
into any new Contracts.

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(g)           
Bankruptcy. Seller has not (i) made a general assignment for the benefit of creditors, (ii) filed any voluntary petition
in bankruptcy or suffered the filing of an involuntary petition by creditors, (iii) suffered the appointment of a receiver to take
possession of all, or substantially all, of its assets, (iv) suffered the attachment or other judicial seizure of all, or substantially
all, of its assets, (v) admitted in writing an inability to pay debts as they come due, or (vi) made an offer of settlement, extension
or compromises to creditors generally under applicable loan documents.

(h)           
Non-Foreign. Seller is not a "foreign person" as that term is defined in Section 1445 of the Internal Revenue
Code of 1986, as amended and the regulations promulgated pursuant thereto.

(i)             
OFAC. Seller is not a person or entity that and shall not be a person or entity that: (i) is acting, directly or
indirectly, on behalf of terrorists or terrorist organizations, including those persons or entities that are included on any of
the applicable lists issued by the U.S. Office of Foreign Assets Control (“OFAC”); (ii) resides or has a place
of business in a country or territory named on any of such lists or which is designated as a Non-Cooperative Jurisdiction by the
Financial Action Task Force on Money Laundering (“FATF”); (iii) is a “Foreign Shell Bank” within
the meaning of the USA Patriot Act; or (iv) resides in or is organized under the laws of a jurisdiction designated by the U.S.
Secretary of the Treasury under Sections 311 or 312 of the USA Patriot Act as warranting special measures due to money laundering
concerns.

(j)             
Environmental Matters. Since the Merger Date, Seller has not received any written notice of any Hazardous or Toxic
Materials having been deposited or otherwise placed upon any Property in violation of any Applicable Law.

Section
4.2.         Knowledge
of Seller. When used in this Agreement, the term “Knowledge of Seller” shall mean and be limited to the
actual (and not imputed, implied or constructive) current knowledge, without duty of inquiry of Thomas K. McGowan and Mark S. Jenkins
(the “Knowledge Individuals”). Notwithstanding anything to the contrary set forth in this Agreement, the Knowledge
Individuals shall have no personal liability whatsoever with respect to any matters set forth in this Agreement or any of a Seller’s
representations and/or warranties herein being or becoming untrue, inaccurate or incomplete.

Section
4.3.        Representations
and Warranties of Buyer. Buyer hereby represents and warrants to Sellers as follows:

(a)            
Organization, Standing and Power. Buyer is duly organized, validly existing and in good standing as a corporation
under the laws in which it was organized as a corporation.

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(b)           
Authority. Buyer has all requisite power and authority to execute and deliver this Agreement and each other agreement,
instrument or document to be executed and delivered by Buyer pursuant hereto or in connection herewith (collectively, the "Buyer
Ancillary Documents"), to perform its obligations hereunder and thereunder and to consummate the transactions contemplated
hereby and thereby. The execution and delivery of this Agreement and the Buyer Ancillary Documents, the performance of this Agreement
and the Buyer Ancillary Documents, and the consummation of the transactions contemplated hereby and thereby by Buyer, have been
duly authorized (or will be duly authorized prior to each Closing) by all necessary corporate action on the part of Buyer and no
other proceeding on the part of Buyer is necessary to authorize this Agreement or the Buyer Ancillary Documents or to consummate
the transactions contemplated hereby and thereby. This Agreement has been duly executed and delivered by Buyer and constitutes
the valid and binding obligation of Buyer, enforceable against Buyer in accordance with its terms except as enforcement thereof
may be limited by bankruptcy, insolvency, moratorium, reorganization or other similar laws affecting creditors' rights generally.
Upon the execution and delivery by Buyer of the Buyer Ancillary Documents, the Buyer Ancillary Documents will constitute the valid
and binding obligations of Buyer, enforceable against Buyer in accordance with its terms except as enforcement thereof may be limited
by bankruptcy, insolvency, moratorium, reorganization or other similar laws affecting creditors' rights generally.

(c)            
Consents. The execution and delivery of this Agreement and the Buyer Ancillary Documents by Buyer do not, and the
consummation of the transactions contemplated hereby and thereby and the compliance with the terms hereof and thereof will not,
(i) violate any Applicable Laws, (ii) conflict with, or cause a breach or default under, any contract to which Buyer is a party
or by which Buyer or any of its property is bound, or (iii) require any consent, approval, order or authorization of, or the registration,
declaration or filing with, any Governmental Entity or any other Person, other than the lender of the Assumed Financing.

(d)           
Patriot Act. Buyer is not a person or entity that and shall not be a person or entity that: (i) is acting, directly
or indirectly, on behalf of terrorists or terrorist organizations, including those persons or entities that are included on any
of the applicable lists issued by OFAC; (ii) resides or has a place of business in a country or territory named on any of such
lists or which is designated as a Non-Cooperative Jurisdiction by FATF; (iii) is a “Foreign Shell Bank” within the
meaning of the USA Patriot Act; or (iv) resides in or is organized under the laws of a jurisdiction designated by the U.S. Secretary
of the Treasury under Sections 311 or 312 of the USA Patriot Act as warranting special measures due to money laundering concerns.

(e)            
Environmental Matters. Since the Merger Date, Buyer has not received any written notice of any Hazardous or Toxic
Materials having been deposited or otherwise placed upon any Property in violation of any Applicable Law.

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Section
4.4.         Brokerage
Commissions. Each Seller and Buyer represent that no brokers have been used in connection with the transactions contemplated
under this Agreement. Sellers and Buyer shall each indemnify and hold the other harmless
from and against any and all claims of all brokers and finders claiming by, through or under the indemnifying party and in any
way related to the sale and purchase of each Property, this Agreement or otherwise, including, without limitation, attorneys’
fees and expenses incurred by the indemnified party in connection with such claim. This
Section 4.4 shall survive the termination of this Agreement.

Section
4.5.        Survival
of Representations and Warranties. The representations and warranties set forth in this Article IV, shall be deemed
to be remade as of the applicable Closing and shall survive the applicable Closing and the delivery of the deed in connection therewith
for a period of one hundred eighty (180) days from the applicable Closing date (the “Survival Period”). Notice
of any claim as to a breach of any representation or warranty must be made to Seller (or to Buyer, as applicable) prior to the
expiration of such Survival Period. Provided notice is sent within such Survival Period, the party making the claim shall have
until the later of (x) thirty (30) days after the non-claiming party provides written notice of its denial of the claim, or (y)
thirty (30) days after the expiration of the Survival Period to commence an action with respect to the claim. If an action is not
commenced within the applicable 30-day period above, the claiming party will be deemed to have waived its right to assert such
claim.

Section
4.6.        Modifications
of Representations and Warranties. If at any time prior to a Closing, either Buyer or a Seller becomes aware of information
that causes a representation and warranty contained in Section 4.1 or Section 4.3 to become untrue in any material
respect, said party shall promptly disclose said information in writing to the other party hereto (a “Disclosure Notice”).
If the Closing occurs, such representations and warranties shall be deemed qualified and amended as set forth in the Disclosure
Notice (and, in such event, Sellers shall no longer have any liability hereunder with respect to that portion of the representation,
warranty or certification superseded herein).

Section
4.7.        Limitation
on Liability. Buyer agrees that its sole remedies with respect to any untruth or inaccuracy of Sellers’ representations
and warranties in the aggregate that are discovered after a Closing are set forth in this Section 4.7. Buyer’s failure
to (i) deliver written notice to a Seller asserting a claim by Buyer, on or before the expiration of the Survival Period, and (ii)
file suit in a court of competent jurisdiction with respect thereto in accordance with the time periods set forth in Section
4.5 above, shall be deemed a waiver and release of all claims for losses resulting from any breach of Sellers’ representations
and warranties that were first discovered by Buyer after the applicable Closing. This Section 4.7 shall survive the Closings,
if the Closings shall occur, and shall survive termination of this Agreement, if this Agreement is terminated.

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ARTICLE
V

Covenants

Section
5.1.        Operation
of the Property. During the period from the Effective Date and continuing until the First Closing, the Second Closing or the
Bay Park Closing, as applicable, each Seller shall own, manage and operate its Property in a manner consistent with past practices.
Specifically, each Seller hereby covenants and agrees to the following:

(a)            
No Seller shall enter into any amendment to or modification of any Lease, or any new contracts, easements or other material
agreements affecting such Seller’s Property or its operation (or any modifications, renewals, supplements, terminations,
extensions, side letters or other agreements relating to any contracts, easements or agreements, unless such modifications, renewals,
extensions or other agreements are pursuant to a right set forth in such contract, easement or agreement), other than contracts
or other agreements entered into in the ordinary course of business and which are cancelable by such Seller without penalty within
thirty (30) days after giving notice thereof, in any manner unless such Seller obtains Buyer’s prior written consent, which
consent may not be unreasonably withheld, conditioned or delayed. If Buyer does not respond to Seller’s written or emailed
consent request within five (5) business days of receipt of Seller’s request, Buyer shall be deemed to have consented to
the subject of the consent request, so long as such notice contains the following text written in this manner: NOTICE, THIS
IS AN OFFICIAL NOTICE PURSUANT TO THAT CERTAIN AGREEMENT DATED SEPTEMBER 16, 2014. THE RECIPIENT OF THIS NOTICE HAS 5-BUSINESS
DAYS TO RESPOND, OTHERWISE THE REQUEST BEING MADE WILL BE DEEMED APPROVED. Buyer hereby acknowledges that it has approved in
advance the Preapproved Leases, and Buyer shall have no right to object to such Preapproved Leases.

(b)           
Notwithstanding Section 5.1(a) of this Agreement, each Seller shall have the unilateral right, in such Seller’s
sole but reasonable discretion, in an emergency situation to enter into any contract or agreement necessary to protect such Seller’s
Property and/or the persons thereon.

(c)            
Each Seller shall maintain and operate its Property in its ordinary course of business and shall not sell, further pledge,
or otherwise transfer or dispose of all or any part of any its Property (except for such items of Personal Property as become obsolete
or are disposed of in the ordinary course of business). Notwithstanding the foregoing, Buyer acknowledges that during the term
of this Agreement until the date that Buyer provides Buyer's Bay Park Notice on a timely basis to the Bay Park Seller and Escrow
Agent indicating that Buyer irrevocably commits to purchasing the Bay Park Property, the Bay Park Seller shall have the right to
offer for sale and negotiate to sell the Bay Park Property to other prospective purchasers and to contract to sell the same and
consummate such sale to another purchaser, all without the consent of Buyer, provided that Bay Park Seller delivers to Buyer and
Escrow Agent the Bay Park Seller's Opt-Out Notice prior to the closing on such sale. No Seller shall make any material alterations
affecting the footprints of any of the buildings on its Property without the prior written consent of Buyer, not to be unreasonably
withheld, conditioned or delayed; provided that the addition or deletion of signage, building awnings or other building attachments
shall not be considered "material".

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(d)           
Each Seller shall keep, observe and perform its obligations as landlord under the Leases affecting its Property in the ordinary
course of business.

(e)            
Each Seller shall maintain in full force and effect its current or equivalent property insurance on its Property and shall
give Buyer prompt written notice of any fire or other casualty or any other notice regarding condemnation, eminent domain or any
other taking affecting its Property after the Effective Date.

Section
5.2.        Access

(a)            
Upon two (2) business days’ written or emailed notice to Sellers, Buyer and
its agents, contractors, consultants (including surveyors and environmental engineers), licensees and representatives (collectively,
“Buyer’s Representatives”) shall have reasonable access to each Property during normal business hours,
accompanied by a representative of Seller unless waived by Seller, for the purpose of viewing the Properties, but Buyer shall not
have the right to make inspections or tests, such period having expired upon the Effective Date. 

(b)           
In conducting any reviews of a Property, Buyer shall (and shall cause Buyer’s
Representatives to): (i) not unreasonably disturb the tenants at a Property or interfere with their use of a Property pursuant
to their respective Leases; (ii) not unreasonably interfere with the operation and maintenance of the Property; (iii) not damage
any part of a Property or any personal property owned or held by any tenant or any third party; (iv) not injure or otherwise cause
bodily harm to Sellers, their property managers, or their respective agents, guests, invitees, licensees, contractors, agents,
or employees, or any tenants or their guests or invitees; (v) comply with all applicable laws; (vi) promptly pay when due the costs
of all inspections, tests, investigations, and studies done with regard to a Property; (vii) not permit any liens to attach to
a Property or any portion thereof by reason of the exercise of its rights hereunder; (viii) promptly and diligently repair any
damage to a Property; and (ix) not reveal or disclose prior to the Closing any information obtained concerning a Property or any
document provided by Sellers or obtained by Buyer to anyone except as may be otherwise required by law or which is a matter of
public record. 

(c)            
Buyer may conduct a Phase I environmental site assessment of each Property, provided that any access to the Property required
by the Phase I environmental site assessment shall be governed by this Section 5.2. Under no circumstances shall Buyer be
permitted to perform any intrusive inspection or test (e.g., boring, drilling or core sampling), including, without limitation,
a Phase II environmental site assessment or any test required in connection with a Phase II environmental site assessment or geotechnical
analysis (and any invasive inspections in connection therewith) without Seller’s prior written consent, which may be withheld
in its sole discretion. Buyer hereby acknowledges that the receipt of a Phase I environmental site assessment for any Property
shall not be a condition to Buyer’s obligation to purchase such Property.

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(d)           
Buyer for and on behalf of itself and Buyer’s Representatives shall and hereby
does indemnify, defend, release, discharge and forever hold harmless Sellers and their officers, members, managers, directors,
employees, partners, brokers, agents, shareholders, and any person, firm, corporation, trust, partnership, limited liability company
or other entity claiming by through or under Sellers (collectively, “Indemnified Parties”) from and against
any and all actions, claims, demands, liabilities, liens, losses, costs (including court costs), damages, awards and expenses (including
reasonable attorney’s fees) (collectively, “Losses”) as a result of any injury to or death of persons,
damage to property or liens recorded against a Property, to the extent caused by (i) Buyer’s access or entry onto a Property;
(ii) the use of or access to a Property by Buyer and Buyer’s Representatives in connection with this Agreement; or (iii)
the breach by Buyer (or by any other person for whom Buyer has responsibility hereunder) of the confidentiality provisions of Section
11.11 hereof. Sellers’ and the Indemnified Parties’ right to indemnity from Buyer shall in no way be limited to
the amount recoverable under any insurance maintained by Buyer as required in this Agreement. The provisions of this Section
5.2(d) shall survive termination of this Agreement for a period of one hundred eighty (180) days from the Effective Date. 

ARTICLE
VI

Conditions Precedent

Section
6.1.        Conditions
to Obligations of Buyer. The obligations of Buyer to purchase the Properties from Seller at each (unless otherwise noted) individual
Closing are subject to the satisfaction or waiver by Buyer prior to or at each individual Closing of the following conditions (collectively,
the “Buyer Conditions Precedent”):

(a)            
Representations and Warranties. The representations and warranties of each applicable Seller set forth in this Agreement
shall be true and correct in all material respects as of the date of this Agreement and as of the applicable Closing as though
made on and as of such Closing, and Buyer shall have received a certificate signed by each Seller to such effect.

(b)           
Performance of Obligations of Seller. Sellers shall have complied in all material respects with all obligations,
conditions and covenants required to be performed by them under this Agreement at or prior to such Closing, including, without
limitation, the delivery of Seller’s Closing Documents.

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(c)            
Owner's Title Policy. The Title Company shall have agreed to issue owner’s policies of title insurance (or
an equivalent signed pro forma title policy or marked-up title commitments) with respect to the Acquired Properties, that shall
include (i) any items listed on title commitments obtained by Sellers in connection with the acquisition of the Properties on the
Merger Date (or, with respect to the Property owned by KRG Branson IV, LLC, a Delaware limited liability company, any items listed
on the owner’s policy of title insurance with an effective date of June 27, 2014, insuring title in the name of Inland Diversified
Branson Hills IV, L.L.C. a Delaware limited liability company), (ii) any memoranda or other documents relating to Leases and the
rights of the tenants under all Leases, (iii) any exceptions relating to Assumed Financing, (iv) all
rights-of-way, easements, covenants, conditions, restrictions and other matters of record, (v) all
real estate taxes and assessments due and payable after the date of each individual Closing, (vi) zoning and other governmental
restrictions and regulations, (vii) all matters that would be disclosed by an accurate survey of each individual Property
and (viii) any other documents that do not affect the marketability of title as determined by Buyer in its commercially reasonable
judgment (collectively, the “Permitted Exceptions”). Each Seller will
endeavor to work with Buyer and the Title Company to craft the wording of such Seller's Closing Survey Certificate to assist the
Title Company in deleting or partially deleting the blanket standard survey exception from the Buyer's title policy, but any deletion
of the survey exception shall not be a condition of Buyer's obligation to close.

(d)           
Assumed Financing. If a Property encumbered by an Assumed Financing is to be acquired at the Closing and Buyer intends
to assume the loan (as noted on Exhibit A or as chosen by Buyer pursuant to Section 2.4), the lender(s) of such Assumed
Financing shall have consented to Buyer's acquisition of the Property and the assumption of the underlying loan on written terms
that are acceptable to Buyer in its commercially reasonable judgment, which written approval must include at least the following:
(i) confirmation in regard to all of the loan documents as being in full force and effect and that Seller acknowledges that Seller
has no defenses or offsets to any of its obligations thereunder and that the lender has performed all of its obligations to the
date of assumption; (ii) the consent by the lender to the assumption of the loan by Buyer, (iii) the then-principal balance of
the loan and the accrued and unpaid interest due and payable as of the date of Closing, (iv) that Seller (as borrower) is not currently
in default under the terms of the loan, (v) that the lender approval does not impose a greater burden upon Buyer than as currently
provided under the existing loan documents. If, for any reason, the lender will not consent to any assumption, Buyer shall still
be obligated to close on the Property encumbered by the Assumed Financing, the Buyer will not get a credit for such assumption,
and the indebtedness will be paid off at Closing from the proceeds of the purchase and sale of the Property.

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(e)            
Rights of First Refusal. All tenants under Leases which grant such tenants a right of first refusal, right of first
offer, or other purchase option (such right of first refusal, right of first offer, or other purchase option hereinafter referred
to as a “Purchase Right”) that would be triggered by the transactions contemplated under this Agreement have
either delivered on or before the Closing of the Property in which such tenant is located a waiver of its Purchase Right or, after
having received notice of this Agreement, have allowed the period during which such tenant was entitled to exercise its Purchase
Right to pass without exercising such right. If a tenant exercises a Purchase Right with respect to the Property in which such
tenant is located, such Property shall not be included in the transactions contemplated hereunder, the Purchase Price shall be
reduced accordingly and all remaining Properties shall be conveyed at their respective Closings.

(f)            
Tenancies. Solely with respect to the Second Closing (or any accelerated portion of the Second Closing) and the Bay
Park Closing, that as of the date of such Closing, no tenant occupying at least 18,000 square feet of floor area at a Property
(such tenant hereafter referred to as a “Major Tenant”) shall be the subject of a bankruptcy proceeding. In
the event of such a bankruptcy proceeding, then the applicable Seller may choose to either (i) negotiate with Buyer on or before
the scheduled Closing date a lower Purchase Price for the Property at which the Major Tenant is located, or (ii) remove the Property
at which the Major Tenant is located from the applicable Closing, and the Purchase Price shall be reduced accordingly

(g)           
Estoppels. Sellers and Buyer hereby acknowledge that Sellers will not obtain, and Buyer’s obligation to close
shall not be conditioned upon receipt of, estoppel certificates for tenants occupying the Properties that are included in the First
Closing. With respect to the Second Closing and the Bay Park Closing, Seller shall endeavor to obtain and deliver to Buyer no later
than two (2) business days prior to the applicable Closing estoppel certificates from all Major Tenants (the “Tenant Estoppel
Certificates”). Sellers’ failure to obtain the Tenant Estoppel Certificates described in the preceding sentence
by the applicable Closing shall not be a default under this Agreement. Buyer’s receipt of Tenant Estoppel Certificates that
are executed by Major Tenants and that do not indicate a material tenant default that arose after the Merger Date or material and
substantiated landlord default that arose after the Merger Date shall be deemed satisfactory to Buyer and shall satisfy this condition
to closing. As used herein, the phrase “material tenant default” shall mean a delinquency in the payment of two (2)
or more months’ base rent and additional rent, or another default by tenant, the cost of which would be equal to or greater
than the amount of two (2) or more months’ base rent and additional rent. Furthermore, as used herein, the phrase “material
and substantiated landlord default” shall mean a default as to which there is substantiated evidence of landlord’s
default. If a Tenant Estoppel Certificate alleges a material tenant default that arose after the Merger Date, then the applicable
Seller may choose to either (i) negotiate a lower Purchase Price for the Property with Buyer on or before the scheduled Closing
date, or (ii) remove the Property at which the tenant is located from the applicable Closing, and the Purchase Price shall be reduced
accordingly. If a Tenant Estoppel Certificate alleges a material and substantiated landlord default based on events that

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occurred after the
Merger Date, then the applicable Seller may choose to either (x) cure the material and substantiated landlord default (and may
extend the date of the applicable Closing for up to thirty (30) days to effectuate such a cure), or (y) post a cash deposit or
letter of credit with Buyer in an amount reasonably approved by Buyer to cover the cost of curing the material and substantiated
landlord default, and, regardless of whether the applicable Seller chooses the action pursuant to the foregoing clause (x) or clause
(y), the parties shall proceed to Closing. If Seller does not choose either action contemplated under the foregoing clause (x)
or clause (y), then Seller may remove the Property at which the tenant is located from the applicable Closing, and the Purchase
Price shall be reduced accordingly. With respect to any Major Tenants for which Sellers are unable to obtain a Tenant Estoppel
Certificate by the applicable Closing, the applicable Seller can elect to deliver at the applicable Closing an estoppel certificate
(a “Kite Estoppel”) executed by Kite Realty Group, L.P., a Delaware limited partnership (“Kite”),
to Kite’s knowledge, with respect to the applicable Major Tenant Lease in a form reasonably acceptable to Buyer as evidenced
by other Tenant Estoppel Certificates accepted by Buyer under this Agreement. A Kite Estoppel shall be a substitute for a Tenant
Estoppel Certificate with respect to any Major Tenants for which Sellers have not obtained a Tenant Estoppel Certificate. If Buyer
or Sellers obtain a Tenant Estoppel Certificate from a Major Tenant after a Kite Estoppel has been provided to Buyer, the Kite
Estoppel shall be deemed retracted and Buyer may only rely on the substituted Tenant Estoppel Certificate.

(h)           
Bay Park Closing. With respect to the Bay Park Closing, neither Buyer nor the Bay Park Seller shall have delivered
notice by the Bay Park Opt-Out Expiration Date to the other party and Escrow Agent that it is opting out of the purchase and sale
of the Bay Park Property.

(i)             
Sellers acknowledge and agree that the Buyer Conditions Precedent are solely for the benefit of Buyer, and not Sellers.
Upon the failure of any one or more of Buyer Conditions Precedent, Buyer shall have the right to either (i) waive the applicable
Buyer Conditions Precedent not satisfied and proceed to Closing, or (ii) by written notice to Sellers and Escrow Agent, terminate
this agreement and receive the prompt repayment of the Earnest Money, whereupon neither party shall thereafter have any liability
each to the other. If Buyer does not provide written notice to terminate pursuant to the foregoing clause (ii) by the applicable
Closing date, then Buyer shall be deemed to have waived the applicable Buyer Condition(s) Precedent and shall proceed to Closing.

Section
6.2.        Conditions
to the Obligations of Seller. The obligations of Sellers to sell the Properties at each individual Closing are subject to the
satisfaction or waiver by Sellers on or prior to the Closing of each of the following conditions:

(a)            
Representations and Warranties. The representations and warranties of Buyer set forth in this Agreement shall be
true and correct in all material respects as of the date of this Agreement and as of the Closing as though made on and as of such
Closing, and Sellers shall have received a certificate signed by an authorized officer of Buyer to such effect.

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(b)           
Performance of Obligations of Buyer. Buyer shall have complied in all material respects (or with respect to any obligation,
condition or covenant qualified by materiality, in all respects) with all obligations, conditions and covenants required to be
performed by it under this Agreement at or prior to the Closing, including, without limitation, the delivery of Buyer’s Closing
Documents.

(c)            
No Default. Buyer is not in default hereunder beyond any applicable notice and cure period.

(d)           
Assumed Financings. If a Property encumbered by an Assumed Financing is to be acquired at the Closing and Buyer intends
to assume the loan (as noted on Exhibit A or as chosen by Buyer pursuant to Section 2.4), the lender(s) of such Assumed
Financing shall have consented to Buyer's acquisition of the Property in accordance with the terms of Section 6.1(d), above.

(e)            
Other Indebtedness. Any and all other indebtedness of a Seller encumbering a Property to be acquired at such Closing
shall have been paid in full by Seller at Closing from its net proceeds of sale, or, with respect to the Property identified as
"Whispering Ridge" on Exhibit A, Seller shall, at its expense, be able to substitute another property for Whispering
Ridge with respect to the indebtedness partially secured by Whispering Ridge, and such Property and such Seller shall have been
released from the indebtedness. In addition, if any portion thereof is to be paid at the time of Closing, such prepayment shall
be able to paid without requiring payment of any breakage fees as a result of payment at a time other than the end of an interest
rate period.

(f)            
Rights of First Refusal. All tenants under Leases which grant such tenants a Purchase Right that would be triggered
by the transactions contemplated under this Agreement have either delivered on or before the Closing of the Property in which such
tenant is located a waiver of its Purchase Right or, after having received notice of this Agreement, have allowed the period during
which such tenant was entitled to exercise its Purchase Right to pass without exercising such right. If a tenant exercises a Purchase
Right with respect to the Property in which such tenant is located, such Property shall not be included in the transactions contemplated
hereunder, the Purchase Price shall be reduced accordingly, and all remaining Properties shall be conveyed at their respective
Closings.

(g)           
Entire Portfolio. This Agreement is for the purchase and sale of all of the Properties. Except for the Properties
that may be excluded due to the exercise by a tenant pursuant to such tenant's Purchase Right or for the Bay Park Property that
may be excluded due to Buyer's timely delivery of Buyer's Bay Park Notice indicating that Buyer will opt out of the Bay Park Closing
or for the Properties that may be excluded under Sections 9.4, 9.5 or 9.6, Buyer cannot exclude or select out one or some of the
Properties from this Agreement.

(h)           
Bay Park Closing. With respect to the Bay Park Closing, neither Buyer nor the Bay Park Seller shall have delivered
notice by the Bay Park Opt-Out Expiration Date to the other party that it is opting out of the purchase and sale of the Bay Park
Property.

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ARTICLE
VII

[RESERVED]

This section
has been intentionally omitted.

ARTICLE
VIII

AS-IS

(a)            
ACKNOWLEDGING THE PRIOR USE OF THE PROPERTIES AND BUYER’S KNOWLEDGE OF AND
OPPORTUNITY TO INSPECT THE PROPERTIES, EXCEPT AS OTHERWISE PROVIDED IN THIS AGREEMENT AND THE SELLER CLOSING DOCUMENTS (INCLUDING
THE EXPRESS REPRESENTATIONS AND WARRANTIES CONTAINED HEREIN), BUYER AGREES TO TAKE THE PROPERTIES “AS IS”, “WHERE
IS”, WITH ALL FAULTS AND CONDITIONS THEREON. EXCEPT AS OTHERWISE PROVIDED IN THIS AGREEMENT AND THE SELLER CLOSING DOCUMENTS
(INCLUDING THE EXPRESS REPRESENTATIONS AND WARRANTIES CONTAINED HEREIN), ANY INFORMATION, REPORTS, STATEMENTS, DOCUMENTS OR RECORDS
(“DISCLOSURES”) PROVIDED OR MADE TO BUYER OR ITS CONSTITUENTS BY SELLERS, THEIR AGENTS OR EMPLOYEES CONCERNING THE
CONDITION (INCLUDING, BUT NOT LIMITED TO, THE ENVIRONMENTAL CONDITION) OF THE PROPERTIES SHALL NOT BE REPRESENTATIONS OR WARRANTIES,
UNLESS SPECIFICALLY SET FORTH IN THIS AGREEMENT OR THE SELLER CLOSING DOCUMENTS. BUYER SHALL NOT RELY ON DISCLOSURES (OTHER THAN
THOSE EXPRESSLY PROVIDED IN THIS AGREEMENT OR THE SELLER CLOSING DOCUMENTS), BUT RATHER, BUYER SHALL RELY ONLY ON ITS OWN INSPECTIONS
OF THE PROPERTIES. BUYER ACKNOWLEDGES THAT THE AGGREGATE NET PURCHASE PRICE REFLECTS AND TAKES INTO ACCOUNT THAT THE PROPERTIES
ARE BEING SOLD “AS IS”.

(b)           
BUYER ACKNOWLEDGES AND AGREES THAT EXCEPT AS SPECIFICALLY SET FORTH IN THIS AGREEMENT AND THE SELLER CLOSING
DOCUMENTS (INCLUDING THE EXPRESS REPRESENTATIONS AND WARRANTIES CONTAINED HEREIN), SELLERS HAVE NOT MADE, DO NOT MAKE AND SPECIFICALLY
DISCLAIM ANY REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS, AGREEMENTS OR GUARANTIES OF ANY KIND OR CHARACTER WHATSOEVER, WHETHER
EXPRESS OR IMPLIED, ORAL OR WRITTEN, PAST, PRESENT OR FUTURE, OF, AS TO, CONCERNING OR WITH RESPECT TO (A) THE NATURE, QUALITY
OR CONDITION OF THE PROPERTIES, INCLUDING, WITHOUT LIMITATION, THE WATER, SOIL AND GEOLOGY, (B) THE INCOME TO BE DERIVED FROM THE
PROPERTIES, (C) THE SUITABILITY OF THE PROPERTIES FOR ANY AND ALL ACTIVITIES AND USES WHICH BUYER MAY CONDUCT THEREON, (D) THE
COMPLIANCE OF OR BY THE PROPERTIES OR THEIR OPERATION WITH ANY LAWS, RULES, ORDINANCES OR REGULATIONS OF ANY APPLICABLE GOVERNMENTAL
AUTHORITY OR BODY, (E) THE HABITABILITY, MERCHANTABILITY OR FITNESS FOR A PARTICULAR 

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PURPOSE OF THE
PROPERTIES, OR (F) ANY OTHER MATTER WITH RESPECT TO THE PROPERTIES, AND SPECIFICALLY DISCLAIM ANY REPRESENTATIONS REGARDING TERMITES
OR WASTES, AS DEFINED BY THE U.S. ENVIRONMENTAL PROTECTION AGENCY REGULATIONS AT 40 C.F.R., OR ANY HAZARDOUS SUBSTANCE, AS DEFINED
BY THE COMPREHENSIVE ENVIRONMENTAL RESPONSE COMPENSATION AND LIABILITY ACT OF 1980 (“CERCLA”), AS AMENDED, AND REGULATIONS
PROMULGATED THEREUNDER. BUYER, ITS SUCCESSORS AND ASSIGNS, HEREBY WAIVE, RELEASE AND AGREE NOT TO MAKE ANY CLAIM OR BRING ANY COST
RECOVERY ACTION OR CLAIM FOR CONTRIBUTION OR OTHER ACTION OR CLAIM AGAINST SELLERS OR THEIR AFFILIATES, DIRECTORS, OFFICERS, EMPLOYEES,
AGENTS, ATTORNEYS, OR ASSIGNS (COLLECTIVELY, OR INDIVIDUALLY AS THE CONTEXT REQUIRES, “SELLERS AND/OR THEIR AFFILIATES”)
BASED ON (I) ANY FEDERAL, STATE, OR LOCAL ENVIRONMENTAL OR HEALTH AND SAFETY LAW OR REGULATION, INCLUDING CERCLA OR ANY STATE EQUIVALENT,
OR ANY SIMILAR LAW NOW EXISTING OR HEREAFTER ENACTED, (II) ANY DISCHARGE, DISPOSAL, RELEASE, OR ESCAPE OF ANY CHEMICAL, OR ANY
MATERIAL WHATSOEVER, ON, AT, TO, OR FROM THE PROPERTIES; OR (III) ANY ENVIRONMENTAL CONDITIONS WHATSOEVER ON, UNDER, OR IN THE
VICINITY OF THE PROPERTIES.

(c)            
BUYER HAS CONDUCTED PRIOR TO THE EFFECTIVE DATE SUCH INVESTIGATIONS OF THE PROPERTIES, INCLUDING, BUT NOT LIMITED TO,
THE PHYSICAL AND ENVIRONMENTAL CONDITIONS THEREOF, AS BUYER DEEMS NECESSARY OR DESIRABLE TO SATISFY ITSELF AS TO THE CONDITION
OF THE PROPERTIES AND THE EXISTENCE OR NONEXISTENCE OR CURATIVE ACTION TO BE TAKEN WITH RESPECT TO ANY HAZARDOUS OR TOXIC SUBSTANCES
ON OR DISCHARGED FROM THE PROPERTIES, AND, EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT (INCLUDING THE EXPRESS REPRESENTATIONS
AND WARRANTIES CONTAINED HEREIN), THE SELLER CLOSING DOCUMENTS AND ANY OTHER DELIVERIES
OR DOCUMENTS PROVIDED TO OR KNOWN TO BUYER, WILL RELY SOLELY UPON SAME AND NOT UPON ANY INFORMATION PROVIDED BY OR ON BEHALF OF
SELLERS OR THEIR AGENTS OR EMPLOYEES WITH RESPECT THERETO. UPON CLOSING, BUYER SHALL ASSUME THE RISK THAT ADVERSE MATTERS, INCLUDING
BUT NOT LIMITED TO, CONSTRUCTION DEFECTS AND ADVERSE PHYSICAL AND ENVIRONMENTAL CONDITIONS, MAY NOT HAVE BEEN REVEALED BY BUYER’S
INVESTIGATIONS, AND BUYER, UPON CLOSING, SHALL BE DEEMED TO HAVE WAIVED, RELINQUISHED AND RELEASED SELLERS AND/OR THEIR AFFILIATES
FROM AND AGAINST ANY AND ALL CLAIMS, DEMANDS, CAUSES OF ACTION (INCLUDING CAUSES OF ACTION IN TORT), LOSSES, DAMAGES, LIABILITIES,
COSTS AND EXPENSES (INCLUDING 

    	30

    	 

    

 

REASONABLE ATTORNEYS’
FEES) OF ANY AND EVERY KIND OR CHARACTER, KNOWN OR UNKNOWN, WHICH BUYER MIGHT HAVE ASSERTED OR ALLEGED AGAINST SELLERS AND/OR
THEIR AFFILIATES AT ANY TIME BY REASON OF OR ARISING OUT OF ANY LATENT OR PATENT CONSTRUCTION DEFECTS OR PHYSICAL CONDITIONS, VIOLATIONS
OF ANY APPLICABLE LAWS AND ANY AND ALL OTHER ACTS, OMISSIONS, EVENTS, CIRCUMSTANCES OR MATTERS REGARDING THE PROPERTIES.

(d)           
BUYER, WITH BUYER’S COUNSEL, HAS FULLY REVIEWED THE DISCLAIMERS AND WAIVERS SET FORTH IN THIS AGREEMENT, INCLUDING,
WITHOUT LIMITATION, IN THIS ARTICLE VIII, AND UNDERSTANDS THEIR SIGNIFICANCE AND EFFECT. BUYER ACKNOWLEDGES AND AGREES THAT
THE DISCLAIMERS AND OTHER AGREEMENTS SET FORTH IN THIS AGREEMENT, INCLUDING, WITHOUT LIMITATION, IN THIS ARTICLE VIII, ARE
AN INTEGRAL PART OF THIS AGREEMENT, AND THAT SELLERS WOULD NOT HAVE AGREED TO SELL THE PROPERTIES TO BUYER FOR THE AGGREGATE NET
PURCHASE PRICE WITHOUT THE DISCLAIMERS AND OTHER AGREEMENTS SET FORTH IN THIS AGREEMENT, INCLUDING, WITHOUT LIMITATION, IN THIS
ARTICLE VIII. THE TERMS AND CONDITIONS OF THIS ARTICLE VIII WILL EXPRESSLY SURVIVE THE CLOSING OR
ANY TERMINATION OF THIS AGREEMENT AND WILL NOT MERGE WITH THE PROVISIONS OF DOCUMENTS TO BE DELIVERED AT ANY CLOSING.

(e)            
No constituent member in, manager or agent of Sellers, nor any advisor, trustee, director,
officer, employee, beneficiary, shareholder, participant, representative or agent of any corporation or trust that is or becomes
a constituent member in Sellers (including, but not limited to, Kite Realty Group, L.P. and Kite Realty Group Trust), shall have
any personal liability, directly or indirectly, under or in connection with this Agreement or any agreement or document made, delivered
or entered into under or pursuant to the provisions of this Agreement or any amendment or amendments to any of the foregoing made
at any time or times, heretofore or hereafter, and Buyer and its successors and assigns and, without limitation, all other persons
and entities, shall look solely to Sellers’ estate and interest in the Properties (and all profits, awards, income and other
proceeds therefrom) for satisfaction of any liability of Sellers with respect to this Agreement and all documents, agreements,
understandings, and arrangements relating to the transactions contemplated under this Agreement, and, except as provided herein,
Buyer, on behalf of itself and its successors and assigns, hereby waives any and all such personal liability. The provisions of
this Section 8(e) shall survive termination of this Agreement.

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ARTICLE
IX

Title; risk of loss

Section
9.1.        Title Commitment.
Sellers have ordered current title commitments for the Properties from the Title Company (the "Title Commitments")
and shall deliver the Title Commitments to Buyer no later than thirty (30) days after the Effective Date. Additionally, promptly
after the Effective Date, Sellers will deliver to Buyer a copy of the most recent survey of each Property that Sellers have in
their possession. Buyer, at Buyer’s sole cost and expense, may order an update to the surveys (the “Surveys”)

Section
9.2.        Title Review
Period. Within ten (10) days after receipt of the Title Commitments, Buyer shall deliver a notice to Seller ("Buyer's
Title Notice") of those title exceptions which are not approved by Buyer (collectively, "Unpermitted Exceptions").
Buyer hereby agrees that (i) any items listed on title commitments obtained by Sellers in connection with the acquisition of the
Properties on the Merger Date (or, with respect to the Property owned by KRG Branson IV, LLC, a Delaware limited liability company,
any items listed on the owner’s policy of title insurance with an effective date of June 27, 2014, insuring title in the
name of Inland Diversified Branson Hills IV, L.L.C. a Delaware limited liability company), (ii) any memoranda or other documents
relating to Leases, (iii) any exceptions relating to Assumed Financing, (iv) all easements, restrictions, or other matters of record
in favor of utilities or governmental entities, and (v) all matters that are Permitted Exceptions, shall not be considered Unpermitted
Exceptions. If Buyer fails to timely deliver a Buyer's Title Notice, then Buyer shall be deemed to have accepted the condition
of title as reflected on the Title Commitments.

Section
9.3.        Title Remedy
Period. If Sellers are unable or unwilling to remove, insure over or bond over the Unpermitted Exceptions, then Sellers shall
so notify Buyer ("Sellers’ Negative Title Notice") within ten (10) days after receipt of Buyer's Title Notice.
If Sellers are willing to address the Unpermitted Exceptions, Sellers shall have fifteen (15) days after receipt of Buyer's Title
Notice to either (a) have the Unpermitted Exceptions removed from the title commitment, or (b) obtain a commitment from the Title
Company to (subject to Buyer’s commercially reasonable approval) "insure over" or to obtain a bond, at Sellers’
cost, to insure over or bond against the financial impact of the Unpermitted Exceptions.

Section
9.4.        Buyer's Right
to Terminate. Upon receipt of Sellers’ Negative Title Notice, Buyer can either waive the Unpermitted Exceptions and proceed
to the Closing or, upon written notice to Seller and Escrow Agent within three (3) days after receipt of Seller's Negative Title
Notice, terminate this Agreement as to that Property by written notice to Sellers and Escrow Agent, in which event the Earnest
Money shall be immediately refunded to Buyer.

Section
9.5.        Condemnation.
If prior to Closing all or any part of any Property is taken or threatened to be taken by condemnation, eminent domain or other
governmental acquisition provisions, then the following procedures shall apply:

    	32

    	 

    

 

		(i)	If the governmental taking at the Property does not permit a Major Tenant to terminate its Lease
under the terms of its Lease, or such Major Tenant has waived its termination right, Buyer shall close and take the Property as
diminished by such events with no reduction in the Purchase Price, and Seller shall assign the right to all condemnation proceeds
due with respect to such taking to Buyer, as well as the proceeds and benefits under any rent loss or business interruption policies
attributable to the period following the Closing.

 

		(ii)	If any Lease for a Major Tenant is terminable on account of the governmental taking and such Major
Tenant does properly terminate its Lease as a result of the governmental taking, then Buyer, at its sole option, may elect either
to (x) remove the Property occupied by such Major Tenant from the applicable Closing and the Purchase Price shall be reduced accordingly;
or (y) accept an assignment of the applicable Seller's rights to all condemnation proceeds (less such sums, if any, as shall have
been actually and reasonably expended by Seller in connection with the condemnation, including, but not limited to, reasonably
attorneys’ fees) with respect thereto with no reduction in the Purchase Price, it being understood and agreed that, in such
event, Sellers shall cooperate with Buyer in the settlement of the condemnation claim. In the event of a Closing on such Property,
the proceeds and benefits under any rent loss or business interruption policies paid to Seller but attributable to the period following
the Closing and deductibles shall likewise, to the extent the same are assignable, be transferred and paid over to Buyer upon receipt
by Seller. Buyer hereby acknowledges that, in the event that Buyer exercises the foregoing clause (x) with respect to the Property
affected by such governmental taking, Buyer shall remain obligated to purchase the remaining Properties. In the event that the
period by which a Major Tenant must exercise its termination rights for a governmental taking under its Lease extends past the
scheduled Closing date for the Property at which the Major Tenant is located, the Closing date for such Property shall be extended
to be five (5) business days after such termination period expires.

 

    	33

    	 

    

 

Section
9.6.        Casualty.
If any portion of the improvements at a Property shall be damaged or destroyed by fire or any other casualty and either (i) no
Major Tenant is entitled to terminate its Lease under the terms of its Lease as a result of such casualty, or (ii) a Major Tenant
has waived its termination right, then this Agreement shall remain in full force and effect, and at the Closing (x) Buyer shall
be entitled to any and all insurance proceeds, monies and claims received by and/or accrued to the applicable Seller on account
of such casualty (less such sums, if any, as shall have been actually and reasonably expended by such Seller in connection with
the repair or restoration of such casualty or the prosecution of such claim (the "Reimbursable Amounts")) and
(y) Buyer shall receive a credit against the applicable Purchase Price equal to the amount of the deductible under the applicable
Seller's property insurance, less the Reimbursable Amounts to the extent such Seller has not recovered such Reimbursable Amounts
under clause (x) above. If any portion of the improvements at a Property shall be damaged or destroyed by fire or any other casualty,
and a Major Tenant is entitled to terminate its Lease as a result of such fire or casualty and does properly terminate its Lease
as a result of such fire or casualty, then Buyer shall have the option to (A) remove the Property occupied by such Major Tenant
from the applicable Closing and the Purchase Price shall be reduced accordingly, or (B) proceed to Closing with respect to the
affected Property, at which time Buyer shall be entitled to any and all insurance proceeds, monies and claims received by and/or
accrued to the applicable Seller on account of such casualty (less the Reimbursable Amounts), and (C) Buyer shall receive a credit
against the applicable Purchase Price equal to the amount of the deductible under the applicable Seller's property insurance, less
the Reimbursable Amounts to the extent such Seller has not recovered such Reimbursable Amounts under clause (x) above. Buyer hereby
acknowledges that, in the event that Buyer exercises the foregoing clause (A) with respect to the Property affected by such fire
or casualty, Buyer shall remain obligated to purchase the remaining Properties. In the event that the period by which a Major Tenant
must exercise its termination rights for a casualty under its Lease extends past the scheduled Closing date for the Property at
which the Major Tenant is located, the Closing date for such Property shall be extended to be five (5) business days after such
termination period expires.

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ARTICLE
X

DEFAULT.

Section
10.1.     Seller
Default. Notwithstanding anything to the contrary contained in this Agreement, if Sellers
fail to perform any of their obligations or agreements contained herein in accordance with the terms of this Agreement and fail
to cure such default within five (5) business days following written notice thereof from Buyer, then, as Buyer’s sole and
exclusive remedy hereunder, Buyer shall, if all conditions precedent described in Section 6.2 have been satisfied or waived
by Sellers, have the right to enforce specific performance of this Agreement, provided that in order to exercise specific performance
as a remedy, Buyer must exercise such right of specific performance by filing suit within thirty (30) days after delivery of Buyer’s
notice of Seller’s default.

Section
10.2.     Buyer Default. Notwithstanding
anything to the contrary contained in this Agreement, if Buyer fails to perform any of its
obligations or agreements contained herein in accordance with the terms of this Agreement and fails to cure such default within
five (5) business days following written notice thereof from Sellers, then, as Sellers’ sole and exclusive remedy hereunder,
Sellers shall, if all conditions precedent described in Section 6.1 have been satisfied or waived by Buyer, have the right
to enforce specific performance of this Agreement, provided that in order to exercise specific performance as a remedy, Sellers
must exercise such right of specific performance by filing suit within thirty (30) days after delivery of Sellers’ notice
of Buyer’s default. 

Section
10.3.     This section has been intentionally
omitted.

    	35

    	 

    

 

ARTICLE
XI

General Provisions

Section
11.1.     Notices. All notices and
other communications hereunder shall be in writing (including wire, telex, telecopy or similar writing) and shall be sent, delivered
or mailed, addressed, or telecopied (i.e., facsimile), email transmission of a notice is not permitted:

	if to Buyer:	
        Inland Real Estate Income Trust, Inc.

        2901 Butterfield Road

        Oak Brook, Illinois 60523

        Attn: G. Joseph Cosenza, Vice Chairman

        Fax: (630) 218-4735

         

	with a copy to:	
        The Inland Real Estate
        Group, Inc.

        2901 Butterfield Road

        Oak Brook, Illinois 60523

        Attn: Robert H. Baum, General
        Counsel

        Fax: (630) 218-4900
        and (630) 571-2360

	if to Seller to:	
        Kite Realty Group, L.P.

        30 South Meridian, Suite
        1100

        Indianapolis, Indiana 46204

        Attn: Daniel R. Sink, Executive
        Vice President

        and Chief Financial Officer

        Fax: (317) 577-0001

        Email: dsink@kiterealty.com

         

	with a copy to:	
        Phillip L. Bayt

        Ice Miller LLP

        One American Square, Suite
        2900

        Indianapolis, Indiana 46282

        Fax: (317) 592-4608

        Email: Phillip.Bayt@icemiller.com

         

	with a copy to:	
        April Sparks Pyatt

        Ice Miller LLP

        One American Square, Suite
        2900

        Indianapolis, Indiana 46282

        Fax: (317) 592-4837

        Email: April.Pyatt@icemiller.com

	 	 

 

    	36

    	 

    

 

Each such notice, request or other communication
shall be given (a) by hand delivery, (b) by nationally recognized overnight service or (c) by facsimile, receipt confirmed by recipient.
Each such notice, request or communication shall be effective (i) if delivered by hand or by nationally recognized courier service,
when delivered at the address specified in this Section 11.1 (or in accordance with the latest unrevoked direction from
such party) and (ii) if given by facsimile, when such facsimile is transmitted to the facsimile, as the case may be, specified
in this Section 11.1 (or in accordance with the latest unrevoked direction from such party), if confirmation is received
from the recipient of the notice.

Section
11.2.     Severability. If any provision
of this Agreement, or the application thereof to any Person, place or circumstances, shall be held by a court of competent jurisdiction
to be invalid, unenforceable, or void, the remainder of this Agreement and such provisions as applied to other persons, places,
and circumstances shall remain in full force and effect; provided, however, that in the event that the terms and conditions of
this Agreement are materially altered as a result of this paragraph, the parties will renegotiate the terms and conditions of this
Agreement to resolve any inequities.

Section
11.3.     Counterparts. This Agreement
may be executed in one or more counterparts, all of which shall be considered one and the same agreement and shall become effective
when one or more counterparts have been signed by each of the parties and delivered to the other parties, it being understood that
all parties need not sign the same counterpart.

Section
11.4.     Entire Agreement; No Third-Party
Beneficiaries. This Agreement (a) constitutes the entire agreement and supersedes all prior agreements and understandings,
both written and oral, among the parties with respect to the subject matter hereof, and (b) is not intended to confer upon any
Person other than the parties hereto any rights or remedies hereunder.

Section
11.5.     Governing Law. This Agreement
shall be governed by and construed in accordance with the laws of the State of Indiana regardless of the laws that might otherwise
govern under applicable principles of conflicts of law.

Section
11.6.     Assignment. Except for
an assignment by Buyer to an Affiliate, Buyer may not assign this Agreement or its or their rights under this Agreement without
disclosing all of the terms and conditions of the proposed assignment to the other party and without the advance written approval
of the other party, which approval may be withheld in such other party's sole and absolute discretion. No assignment shall relieve
the Buyer of its obligations under this Agreement.

Section
11.7.     Time of Performance. If
any date set forth in this Agreement for the performance of any obligation by Buyer and/or Sellers or for the delivery of any instrument
or notice should be on a day other than a Business Day, compliance with such obligation or delivery shall be deemed acceptable
on the first Business Day following such day. Time is of the essence in this Agreement.

    	37

    	 

    

 

Section
11.8.     Amendments and Waivers.
This Agreement may not be amended except by an instrument in writing signed by all parties hereto. By an instrument in writing
Sellers, on the one hand, or Buyer, on the other hand, may waive compliance by the other party with any term or provision of this
Agreement that such other party was or is obligated to comply with or perform.

Section
11.9.     Attorneys' Fees.  In
the event legal action is instituted by any party to enforce the terms of this Agreement or which arises out of the execution of
this Agreement, the prevailing party in such legal action will be entitled to receive from the other party the prevailing party's
reasonable attorneys' fees and court costs incurred, including the costs of appeal, as may be determined and awarded by the court
in which the action is brought. The term "prevailing party" shall include, but not be limited to, a party who obtains
legal counsel or brings an action against the other by reason of the other's breach or default and obtains substantially the relief
sought whether by compromise, settlement or judgment.

Section
11.10.  Radon Gas. Radon is a naturally occurring
radioactive gas that, when it has accumulated in a building in sufficient quantities, may present health risks to persons who are
exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional
information regarding radon and radon testing may be obtained from your county health department.

Section
11.11.  Confidentiality.
Buyer will maintain in confidence all due diligence information, whether in written or oral form, without regard to whether
marked "confidential" (collectively, “Information”), received from Sellers and will neither disclose
any such Information to any third person or entity nor make use of any such Information for any purpose other than the purpose
described herein without the prior written consent of Sellers. Buyer will restrict access to such Information to only those persons
who, in the reasonable business judgment of Buyer, “need to know” for the purpose of evaluating or effecting the transactions
contemplated by this Agreement, and who are instructed to keep such information confidential, such as Buyer’s officers, directors,
employees, attorneys, accountants, engineers, surveyors, consultants, financiers, partners, investors, potential lessees and bankers
and such other third parties whose assistance is required in connection with the consummation of this transaction. Buyer will advise
all persons to whom it provides Information that they are bound by this Section 11.11. Notwithstanding the foregoing, Buyer
will have no confidentiality, non-disclosure and non-use obligation with respect to any Information which: is already known to
the public prior to the Effective Date; becomes known to the public through authorized publication or otherwise through no breach
of this Agreement by Buyer; can be established by Buyer by documentary evidence to have been in the legitimate and lawful possession
of Buyer at the time revealed by Sellers to Buyer; is lawfully received by Buyer without restriction from a third party subsequent
to the Effective Date, which third party did not obtain such Information through improper means; or is developed by Buyer independently
and without benefit of the Information received pursuant to this Agreement. All materials and documents containing Information
provided by Sellers to Buyer will remain the property of Sellers until Closing occurs. The disclosure or transmission of Information
to Buyer does not constitute the grant to Buyer of a license of any type. In the event of termination of this Agreement or otherwise
at Sellers’ request prior to Closing or termination of this Agreement, all Information will immediately either

    	38

    	 

    

 

be destroyed by Buyer or
returned to Sellers, as Sellers may direct, together with all copies and summaries thereof. If Closing does not occur, all Information
stored in electronic media will be destroyed, to the extent possible. Buyer will thereafter certify in writing to Sellers that
all Information has either been returned to Sellers or destroyed. Buyer’s obligations hereunder with respect to the Information
(if Closing does not occur) will continue until the earlier of two (2) years from the Effective Date or at such time as any such
Information becomes generally available to the public, except that Buyer's obligations hereunder with respect to trade secrets
and financial information shall continue indefinitely until such time as any such trade secrets or financial information becomes
generally available to the public. In the event that Buyer is requested or required (by oral questions, interrogatories, requests
for information or documents, subpoena, civil investigative demand or other process) to disclose any Information, Buyer agrees
that it will provide Sellers with prompt written notice of any such request or requirement, to the extent that notice is possible
under the circumstances, so that prior to such disclosure Sellers may seek to obtain an appropriate protective order or waive compliance
with the provisions of this letter of intent. Absent same, Buyer will only disclose the Information which it is legally required
to disclose, based on advice of Buyer’s counsel. Upon full execution of this Agreement and again after any Closing occurs
or fails to occur, the parties may either make a joint press release, or each party may make an individual press release that is
mutually and reasonably agreed to by the other party; provided, that if the parties fail to agree on the contents of a joint press
release or separate press releases, each party may nevertheless make its own individual press release, provided the other party
shall be given a reasonable opportunity to make, on the date of such individual press release, its own individual press release,
and copies of each such individual press release shall be delivered to the other party prior to being made.  Notwithstanding
anything herein to the contrary, it is acknowledged that Sellers and Buyer are, or each is an affiliate of, a publicly traded company
or a public company; consequently, Seller and Buyer shall have the right to disclose by filing with the Securities and Exchange
Commission or through any other channel any information regarding the transaction contemplated by this Agreement required by law
or as determined to be necessary or appropriate by Seller, Buyer or their respective attorneys related to public disclosure regarding
Sellers and Buyer or their respective affiliates.  The terms of this Section 11.11 shall supersede the terms of
that certain letter of intent entered into by the parties dated August 21, 2014, to the extent such confidentiality agreements
relate or refer, directly or indirectly, to the transactions contemplated by this Agreement.

    	39

    	 

    

 

Section
11.12.  Like-Kind
Exchange. Sellers and Buyer acknowledge and agree that the purchase and sale of any Property may be part of a tax-free exchange
under Section 1031 of the Internal Revenue Code for any Seller or Buyer. Each party hereby agrees to take all reasonable steps
necessary before, on or after the applicable Closing date, to facilitate such exchange if requested by the other party at the sole
cost of the exchanging party; provided, that the party making such accommodation shall not be required to acquire any substitute
property or incur any cost, expense or other obligation in connection with such exchange, and provided, further, that the applicable
Closing date shall not be delayed, impaired or complicated thereby. If either party wishes to make such an election, it must do
so on or prior to the fifth (5th) business day prior to the applicable Closing date. The cooperating party shall not
be required to take title to or convey any real or personal property other than the applicable Property, and the cooperating party
shall only be required to execute the standard facilitator documents customarily utilized by qualified intermediaries (e.g. assignment
of purchase agreement forms).

[The signature page
follows.]

 

 

    	40

    	 

    

IN WITNESS WHEREOF,
Buyer and Sellers have caused this Agreement to be signed as of the Effective Date.

	 	SELLERS:
	 	 	 
	 	
        KRG BRANSON HILLS, LLC, a
        Delaware

        limited liability company

	 	 	 
	 	By:	/s/ Thomas K. McGowan
	 	 	
        Thomas K. McGowan, President
        and

        Chief Operating Officer

	 	 	 
	 	 	 
	 	
        KRG BRANSON HILLS K-II, LLC,
        a

        Delaware limited liability
        company

	 	 	 
	 	By:	/s/ Thomas K. McGowan
	 	 	
        Thomas K. McGowan, President
        and

        Chief Operating Officer

	 	 	 
	 	 	 
	 	
        KRG BRANSON HILLS T-III,
        LLC, a

        Delaware limited liability
        company

	 	 	 
	 	By:	/s/ Thomas K. McGowan
	 	 	Thomas K. McGowan, President and
	 	 	Chief Operating Officer
	 	 	 
	 	 	 
	 	
        KRG BRANSON HILLS IV, LLC,
        a

        Delaware limited liability
        company

	 	 	 
	 	By:	/s/ Thomas K. McGowan
	 	 	
        Thomas K. McGowan, President
        and

        Chief Operating Officer

	 	 	 
	 	 	 
	 	
        KRG ATHENS EASTSIDE, LLC,
        a

        Delaware limited liability
        company

	 	 	 
	 	By:	
        /s/
        Thomas K. McGowan

	 	 	
        Thomas K. McGowan, President
        and

        Chief Operating Officer

	 	 	 

 

    	 

    	 

    

	 	
        KRG HARVEST SQUARE, LLC,
        a

        Delaware limited liability
        company

	 	 	 
	 	By:	/s/ Thomas K. McGowan
	 	 	
        Thomas K. McGowan, President
        and

        Chief Operating Officer

	 	 	 
	 	 	 
	 	
        KRG OCEAN ISLE BEACH LANDING,

        LLC, a Delaware limited liability
        company

	 	 	 
	 	By:	/s/ Thomas K. McGowan
	 	 	
        Thomas K. McGowan, President
        and

        Chief Operating Officer

	 	 	 
	 	 	 
	 	
        KRG PLEASANT PRAIRIE RIDGE,
        LLC,

        a Delaware limited liability
        company

	 	 	 
	 	By:	/s/ Thomas K. McGowan
	 	 	Thomas K. McGowan, President and
	 	 	Chief Operating Officer
	 	 	 
	 	 	 
	 	
        KRG STEVENS POINT PINECREST,

        LLC, a Delaware limited liability
        company

	 	 	 
	 	By:	/s/ Thomas K. McGowan
	 	 	
        Thomas K. McGowan, President
        and

        Chief Operating Officer

	 	 	 
	 	 	 
	 	
        KRG NEENAH FOX POINT, LLC,
        a

        Delaware limited liability
        company

	 	 	 
	 	By:	/s/ Thomas K. McGowan
	 	 	
        Thomas K. McGowan, President
        and

        Chief Operating Officer

	 	 	 
	 	 	 
	 	
        KRG CONYERS HERITAGE, LLC,
        a

        Delaware limited liability
        company

	 	 	 
	 	By:	/s/ Thomas K. McGowan
	 	 	
        Thomas K. McGowan, President
        and

        Chief Operating Officer

	 	 	 
	

    	

    	 

    

	 	 	 
	 	
        KRG LAKE ST. LOUIS HAWK RIDGE,

        LLC, a Delaware limited liability
        company

	 	 	 
	 	By:	/s/ Thomas K. McGowan
	 	 	
        Thomas K. McGowan, President
        and

        Chief Operating Officer

	 	 	 
	 	 	 
	 	
        KRG PRATTVILLE LEGENDS, LLC,
        a

        Delaware limited liability
        company

	 	 	 
	 	By:	/s/ Thomas K. McGowan
	 	 	
        Thomas K. McGowan, President
        and

        Chief Operating Officer

	 	 	 
	 	 	 
	 	
        KRG HOT SPRINGS FAIRGROUNDS,

        LLC, a Delaware limited liability
        company

	 	 	 
	 	By:	/s/ Thomas K. McGowan
	 	 	Thomas K. McGowan, President and
	 	 	Chief Operating Officer
	 	 	 
	 	 	 
	 	
        KRG SHREVEPORT REGAL COURT,

        LLC, a Delaware limited liability
        company

	 	 	 
	 	By:	/s/ Thomas K. McGowan
	 	 	
        Thomas K. McGowan, President
        and

        Chief Operating Officer

	 	 	 
	 	 	 
	 	
        KRG JACKSONVILLE RICHLANDS,

        LLC, a Delaware limited liability
        company

	 	 	 
	 	By:	/s/ Thomas K. McGowan
	 	 	
        Thomas K. McGowan, President
        and

        Chief Operating Officer

	 	 	 
	 	 	 
	 	
        KRG OMAHA WHISPERING RIDGE,

        LLC, a Delaware limited liability
        company

	 	 	 
	 	By:	/s/ Thomas K. McGowan
	 	 	
        Thomas K. McGowan, President
        and

        Chief Operating Officer

	 	 	 
	 	
        KRG ASHWAUBENON BAY PARK,

        LLC, a Delaware limited liability
        company

	 	 	 
	 	By:	/s/ Thomas K. McGowan
	 	 	
        Thomas K. McGowan, President
        and

        Chief Operating Officer

 

    	 

    	 

    

 

	 	BUYER:
	 	 	 
	 	
        INLAND REAL ESTATE INCOME

        TRUST, INC., a Maryland corporation

	 	 	 
	 	By:	/s/ G. Joseph Cosenza
	 	 	G. Joseph Cosenza, Authorized Person

 

 

    	 

    	 

    

Exhibit
A

Properties

	Seller	Property and Location	Purchase Price	
        Assumption

         

	1.      KRG Branson Hills, LLC, a Delaware limited liability company; KRG Branson Hills K-II, LLC, a Delaware limited liability company; KRG Branson Hills IV, LLC, a Delaware limited liability company	The Shoppes at Branson Hills, Branson, MO	$42,803,030	No Assumption
	2.      KRG Branson Hills, LLC, a Delaware limited liability company; KRG Branson Hills T-III, LLC, a Delaware limited liability company	Branson Hills Plaza, Branson, MO	$9,667,000	No Assumption
	3.      KRG Athens Eastside, LLC, a Delaware limited liability company	Eastside Junction, Athens, AL	$12,277,570	Assumption
	4.      KRG Harvest Square, LLC, a Delaware limited liability company	Harvest Square, 5850 Highway 53, Harvest, AL  35749	$13,017,818	Assumption
	5.      KRG Ocean Isle Beach Landing, LLC, a Delaware limited liability company	
        Landing at Ocean Isle
        Beach, Ocean Isle, NC

         
	$10,894,597	No Assumption
	6.      KRG Pleasant Prairie Ridge, LLC, a Delaware limited liability company	Shoppes at Prairie Ridge, 9777 76th Street, Pleasant Prairie, WI 53158	$32,527,273	No Assumption

    	 

    	 

    

 

	7.      KRG Stevens Point Pinecrest, LLC, a Delaware limited liability company	Copps Grocery Store, 1500 Pinecrest Avenue, Stevens Point, WI 54481	$15,544,261	No Assumption
	8.      KRG Neenah Fox Point, LLC, a Delaware limited liability company	Fox Point, 828 Fox Point Plaza, Neenah, WI 54946	$17,312,015	No Assumption
	9.      KRG Conyers Heritage, LLC, a Delaware limited liability company	Walgreens – Heritage Square, 1877 Georgia Highway 20, Conyers, GA 30094	$9,010,529	No Assumption
	10.   KRG Lake St. Louis Hawk Ridge, LLC, a Delaware limited liability company	The Shoppes at Hawk Ridge, Lake St. Louis, MO	$12,721,273	No Assumption
	11.   KRG Prattville Legends, LLC, a Delaware limited liability company	Prattville Town Center, 2760 Legends Parkway, Prattville, AL 36067	$33,328,788	No Assumption
	12.   KRG Hot Springs Fairgrounds, LLC, a Delaware limited liability company	Fairgrounds Crossing, 1412 Higdon Ferry Road, Hot Springs, AR 71913	$29,196,970	No Assumption
	13.   KRG Shreveport Regal Court, LLC, a Delaware limited liability company	Regal Court, 7451 Youree Drive, Shreveport, LA 71105	$50,363,636	No Assumption
	14.   KRG Jacksonville Richlands, LLC, a Delaware limited liability company	Walgreens Plaza, 3069-85 Richlands Highway, Jacksonville, FL 28540	$13,662,883	No Assumption
	15.   KRG Omaha Whispering Ridge, LLC, a Delaware limited liability company	Whispering Ridge, 17021 Evans Plaza, Omaha, NE 68116	$15,802,933	No Assumption
	16.   KRG Ashwaubenon Bay Park, LLC, a Delaware limited liability company	Village at Bay Park, 760-820 Willard Drive, Ashwaubenon, WI 54304	$19,700,045	No Assumption

 

    	 

    	 

    

 

Each Property shall
include all of the following items (1) through (7) described below:

1.The certain
parcel(s) of land being described on Exhibit A-1 attached hereto, together with )
all buildings and improvements owned by each Seller located on, in, under, or upon such land and any and all of such Seller’s
rights, easements, licenses and privileges presently thereon or appertaining to the land or improvements (collectively, the “Real
Estate”);

2.All of the
applicable Seller's right, title and interest in and to the equipment (excluding computer hardware and software) and other personal
property situated on the Real Estate, owned by such Seller and used in the operation of the Real Estate (the "Personal
Property");

3.All of the
applicable Seller’s right, title and interest in and to the leases related to each
Property (collectively, the “Leases”) and any security deposits paid by tenants or subtenants under the Leases;

4.All of the
applicable Seller’s right, title and interest in and to all union, maintenance, service, brokerage, advertising and other
like contracts and agreements affecting the ownership and operation of such Property (the “Contracts”);

5.To the extent
assignable or transferable, all of the applicable Seller’s right, title, and interest
in and to all intangible property (the “Intangible Property”), if any, pertaining to the Real Estate or the
Personal Property or the use thereof, including without limitation, the names of the shopping centers located on the Real Estate,
warranties and guarantees, permits, certificates of occupancy, licenses, approvals, governmental authorizations, transferable utility
contracts, and any plans and specifications; 

6.All easements,
if any, benefiting the Real Estate; and

7.All rights
and appurtenances pertaining to the foregoing, including any right, title, and interest of each Seller in and to adjacent streets,
alleys or rights-of-way.

    	 

    	 

    

 

 

Exhibit A-1

Legal Description
of Real Estate

The Shoppes at Branson Hills/Branson Hills Plaza

 

TRACT
1:

Lot 6, of The Shoppes at
Branson Hills, a subdivision as per the recorded plat thereof, Plat Book/Slide I, Pages 235-240, Taney County, Missouri.

Lot 4A, of the Administrative
Replat Lot 4, The Shoppes at Branson Hills, a subdivision as per the recorded plat thereof, Plat Book/Slide J Pages 723-724, Taney
County, Missouri.

Outlots 1, 2, 4 and 7 of
The Shoppes at Branson Hills, a subdivision as per the recorded plat thereof, Plat Book/Slide I, Pages 235-240, Taney County, Missouri.

Outlots 6A, of the Replat of
Outlots 5 and 6 of the The Shoppes at Branson Hills, a subdivision as per the recorded plat thereof, Plat Book/Slide J, Page 722,
Taney County, Missouri.

TRACT
2:

Lot 3, Branson Hills Plaza,
a subdivision as per the recorded plat thereof, Plat Book Slide H, pages 286287, Taney County, Missouri.

Lot 5A, Replat of Lots 4 &
5 of Branson Hills Plaza and Lot 6A of Amended Plat of Lots 6 and 7A of Branson Hills Plaza, a subdivision as per the recorded
plat thereof, Plat Book Slide J, pages 375-376, Taney County, Missouri.

Lot 6B, Replat of Lots 4 &
5 of Branson Hills Plaza and Lot 6A of Amended Plat of Lots 6 and 7A of Branson Hills Plaza, a subdivision as per the recorded
plat thereof, Plat Book Slide J, pages 375-376, Taney County, Missouri.

Lot 7B, in Amended of Lots 6
and 7A, Branson Hills Plaza, a subdivision as per the recorded plat thereof, Plat Book Slide I, pages 789, Taney County, Missouri.

Lot 8A, Replat of Lots 7 and
8 Branson Hills Plaza, a subdivision as per the recorded plat thereof, Plat Book Slide I, pages 285, Taney County, Missouri.

The Shoppes at Branson
Hills (Lot 4B)

Lot 4B, in the Administrative
Replat of Lot 4, The Shoppes at Branson Hills, a subdivision as per the recorded plat thereof, Plat Book/Slide J, Pages 723-724,
Taney County, Missouri.

    	 

    	 

    

 

The Shoppes at Branson Hills (Kohl’s Parcel)

 

Lot 5 of The Shoppes at Branson
Hills, a subdivision as per recorded plat thereof, Plat Book/Slide I, Pages 235- 240, Taney County, Missouri.

 

Branson Hills Plaza (TJ Maxx Parcel)

 

Lot 2, Branson Hills Plaza,
a subdivision as per the recorded plat thereof, Plat Book Slide H, pages 286287, Taney County, Missouri.

 

Shoppes at Prairie Ridge

 

PARCEL I:

Lot 1 of Certified Survey
Map No. 2603, recorded on November 9, 2007, as Document No. 1539382, being a redivision of Lot 1 and Lot 2 of Certified Survey
Map No. 2602, being a part of the Northwest 1/4 of Section 8, Town 1 North, Range 22 East, in the Village of Pleasant Prairie,
County of Kenosha, State of Wisconsin.

PARCEL II:

Lot 3 of Certified Survey
Map No. 2603, recorded on November 9, 2007, as Document No. 1539382, being a redivision of Lot 1 and Lot 2 of Certified Survey
Map No. 2602, being a part of the Northwest 1/4 of Section 8, Town 1 North, Range 22 East, in the Village of Pleasant Prairie,
County of Kenosha, State of Wisconsin.

PARCEL III:

Lot 4 of Certified Survey
Map No. 2603, recorded on November 9, 2007, as Document No. 1539382, being a redivision of Lot 1 and Lot 2 of Certified Survey
Map No. 2602, being a part of the Northwest 1/4 of Section 8, Town 1 North, Range 22 East, in the Village of Pleasant Prairie,
County of Kenosha, State of Wisconsin.

 

Prattville Town Center

 

Tracts 1, 2, 3 and 4, as shown
on the Prattcenter Plat No.1, as said Plat is recorded in the Office of the Judge of Probate of Elmore County, Alabama, in Plat
Book 16, at Pages 21 and 22.

 

Landing at Ocean Isle Beach

 

Lying and being situate in Brunswick
County, North Carolina, and being more particularly described as follows:

 

BEING
ALL of Lot 7 as shown on that plat entitled "Final Plat of The Landing at Ocean Isle Beach, Lots 1 to 10" as recorded
in Map Book 52, Page 79, in the Brunswick County Public Registry.

    	 

    	 

    

 

Eastside
Junction

 

Lot
3-A according to the Final Plat of Replat of Lot 3 of East Side Junction Plat Book "H", Page 104 recorded in the Office
of the Judge of Probate of Limestone County, Alabama in Plat Book H at Page 130.

 

Harvest
Square

 

Lot #5A and Lot #5A.l, according
to the Map and Plat of Harvest Square Subdivision, as said Map and Plat appear of record in the Office of the Judge of Probate
of Madison County, Alabama, as Document No. 20090601000361050.

 

The
Shoppes at Hawk Ridge

 

Lots 1 thru 4 inclusive of LAKE
ST. LOUIS PLAT 272, being a Resubdivision of Outlot C-1 of Lake St. Louis Plat 266, a Re-subdivision of Block C of The Shoppes
at Hawk Ridge, a Subdivision in St. Charles County, Missouri, as per plat thereof recorded in Plat Book 46, Page 331.

 

Fairgrounds Crossing

 

Lot 1, 2 and 7 of Fairgrounds Crossing
Commercial Subdivision, according to Plat recorded in Book 14 at Page 125 of the Plat Records of Garland County, Arkansas.

 

Copps Grocery Store

 

Lot 1 in Certified Survey Map
No. 10205-45-85, as recorded in Volume 45 of Survey Maps, Page 85, as Document No. 765887, being a part of Copps Addition and part
of Lot 1 of Certified Survey Map No. 288-1-288, Part of Parcel Lettered "B", all of Parcel Lettered "C", and
part of Parcel Lettered "D", Certified Survey Map No. 437-2-97, all of Lot 1 of Certified Survey Map No. 933-3-291, and
part of Parcel Lettered "B", all of Parcel Lettered "C", and part of Parcel Lettered "D", Certified
Survey Map No. 1452-5-210, all of Lot 2, and part of Lot 3 of Certified Survey Map No. 6752-24-275, and all of Lot 1 of Certified
Survey Map No. 7247-26-177, located in the Southeast 1/4 of the Northeast 1/4 of Section 33, Town 24 North, Range 8 East, in the
City of Stevens Point, County of Portage, State of Wisconsin.

 

Fox Point

 

Parcels A & B:

 

A PARCEL OF LAND BEING PART OF THE
NORTHWEST 1/4 OF THE SOUTHWEST 1/4 OF SECTION 28, TOWNSHIP 20 NORTH, RANGE 17 EAST, CITY OF NEENAH, WINNEBAGO COUNTY, WISCONSIN,
BOUNDED AND DESCRIBED AS FOLLOWS:

    	 

    	 

    

 

COMMENCING
AT THE WEST 1/4 CORNER OF SECTION 28; THENCE S01°27'04"E, 1179.76 FEET ALONG THE WEST LINE OF THE SOUTHWEST 1/4 OF SECTION
28; THENCE N88°27'03"E, 104.10 FEET TO A POINT ON THE EAST RIGHT OF WAY LINE OF GREEN BAY ROAD AND THE POINT OF BEGINNING;
THENCE N01°11'09"W, 177.72 FEET ALONG SAID EAST RIGHT OF WAY LINE;THENCE N29°38'54"E, 13.47 FEET; THENCE N48°25'42"E,
11.00 FEET; THENCE N61°14'51"E, 15.00 FEET; THENCE N11°14'49"E, 37.62 FEET; THENCE N88°33'34"E,
173.61 FEET; THENCE N01°11'09"W, 280.83 FEET; THENCE N70°21'13"W, 29.60 FEET; THENCE N02°00'37"E, 85.58
FEET; THENCE N89°05'04"E, 150.00 FEET; THENCE N00°54'56"W, 141.48 FEET; THENCE N34°18'40"W, 41.82 FEET
TO A POINT ON THE SOUTH RIGHT OF WAY LINE OF WINNECONNE AVENUE (S.T.H. "114"); THENCE N88°18'45"E, 38.64 FEET;
THENCE N61°49'30"E, 43.00 FEET; THENCE N21°02'58"E, 18.00 FEET; THENCE N36°43'13"E, 13.50 FEET; THENCE
N51°55'53"E, 13.50 FEET; THENCE N61°19'47"E, 20.50 FEET; THENCE N66°19'23"E, 21.00 FEET; THENCE N69°05'14"E,
31.00 FEET; THENCE N08°54'58"W, 7.78 FEET; THENCE NORTHEASTERLY, 41.63 FEET ALONG THE ARC OF A 1526.10 FOOT RADIUS CURVE
TO THE RIGHT, HAVING A CHORD WHICH BEARS N81°52'08"E AND IS 41.63 FEET IN LENGTH; THENCE S02°30'26"W, 278.58
FEET; THENCE N80°25'21"E, 365.22 FEET TO THE BEGINNING POINT OF A MEANDER LINE OF THE WESTERLY SHORE OF THE NEENAH SLOUGH,
SAID POINT BEARS S80°25'21"W A DISTANCE OF 42 FEET MORE OR LESS FROM SAID SHORE; THENCE S11°31'35"W, 676.69 FEET
ALONG SAID MEANDER LINE TO THE TERMINATION POINT OF SAID MEANDER LINE, SAID POINT BEARS S88°26'46"W A DISTANCE OF 131
FEET MORE OF LESS FROM SAID SHORE; THENCE S88°26'46"W, 719.59 FEET TO THE POINT OF BEGINNING.

 

THE ABOVE DESCRIBED PARCEL INCLUDES
ALL THAT LAND LYING BETWEEN THE ABOVE DESCRIBED MEANDER LINE AND THE WESTERLY SHORE OF SAID NEENAH SLOUGH BOUNDED BY THE EXTENSION
OF THE RESPECTIVE LOT LINES OF THE ABOVE DESCRIBED PARCEL TO SAID WESTERLY SHORE.

 

Parcel C-1:

 

That part of the Northwest 1/4 of the
Southwest 1/4 of Section 28, Township 20 North, Range 17 East, in the Sixth Ward, City of Neenah, Winnebago County, Wisconsin,
lying West of a line described as follows, viz:

 

Commencing on the West line of said
Section at a point 752.6 feet South of the intersection of said West line with the centerline of State Trunk Highway No. 114; thence
East, at right angles to the West line of said Section, 103.3 feet to the East line of a highway, commonly known as Green Bay Road,
the place of

beginning; thence East, at right angles
to the West line of said Section, 180 feet; thence South, parallel with the East line of said Green Bay Road, 70 feet; thence West,
at right angles to the West line of said Section, 180 feet to the East line of said Green Bay Road; thence North, along the East
line of said Green Bay Road, 70 feet, to the place of beginning.

    	 

    	 

    

 

Parcel C-2:

 

That part of Lot Four (4), of Certified
Survey Map No. 1088, as recorded in the Office of the Register of Deeds for Winnebago County on January 13, 1984 at 10:00 AM, in
Volume 1 of Certified Survey Maps, Page 1088, as Document No. 584988, being a part of the West 1/2 of the Southwest 1/4 of Section
28, Township 20 North, Range 17 East, in the Sixth Ward, City of Neenah, Winnebago County, Wisconsin, lying West of a line described
as follows, viz:

 

Commencing
at the Northeast (most Easterly) corner of said Lot 4; thence South 89 degrees 40' 45" West, along the North line of said
Lot 4, 300.00 feet; thence South 70.0 feet, to the point of beginning of said line, thence continuing South to the Southerly line
of said Lot 4, and the point of termination of said line.

 

Parcel D:

 

That part of the Northwest Quarter (NW
1/4) of the Southwest Quarter (SW 1/4) of Section Twenty-eight (28), Township Twenty (20) North, Range Seventeen (17) East, in
the Sixth Ward, City of Neenah, Winnebago County, Wisconsin, described as follows, viz:

 

Commencing at the West Quarter corner
of said Section; thence South, along the West line of said Section, 429 feet, to the center line of Winneconne Avenue; thence North
69 degrees 9' East, along the center line of said Avenue, 400 feet; thence North 78 degrees 54' East, along the center line of
said Avenue, 264 feet, to the Northwesterly corner of tract of land heretofore conveyed to Sara Napuck by Deed recorded in Volume
952 on Page 575, the place of beginning; thence South 3 degrees 2' West, 326.67 feet thence Easterly, along the Southerly line
of tract of land heretofore conveyed to Sarah Napuck by Deed recorded in Volume 792 on Page 153, to the center line of a Slough;
thence Northerly, along the center line of said Slough, to the center line of said Avenue; thence Westerly, along the center line
of said Avenue, to the place of beginning, excepting therefrom that portion thereof included within the limits of Winneconne Avenue,
as now located.

 

Regal Court

 

A tract of land situated in
fractional Section 37, Township 17 North, Range 13 West, Caddo Parish, Louisiana, and being part of that land designated as Lot
1 of Hart's Island in a Judgment Recognizing and Sending in Possess ion to Carroll W. Feist and Malcolm Feist, dated January 27,
1969 recorded in Conveyance Book 1210, Page 651 in the Official Records of Caddo Parish, Louisiana, and as shown on a map or Hart's
Island recorded in Conveyance Book 14, Page 195 in said records and being more particularity described as follows:

COMMENCING at 1/2, inch iron
rod (set) at the intersection of the east right of way line of State Highway No. 1 (Youree Drive) and with the south right of way
of Regal Drive, (previously called Lowe's Blvd.)As shown on the Plat of Kings Red River Subdivision, recorded in Book 4050 on Page
49 in said Official Records;

    	 

    	 

    

 

THENCE North 64 degrees 32
minutes 39 seconds East with the south right of way line of Regal Drive, at a distance of 124.62 feet pass a 1/2
inch iron rod (set) for corner, same being the intersection of said south right of way with the south right line of Regal Drive,
continuing a total distance of 133.97 feet to a 1/2 inch iron rod (set) for corner in said right of way line
and being the beginning of a curve to the left;

THENCE continuing with said
right of way line and along said curve to the left, having a Delta of 43 degrees 42 minutes 09 seconds, a Radius of 298.50 feet,
a Chord which bears North 42 degrees 41 min 35 seconds East-222.20 feet and an Arc Length of 227.68 feet to a 1/2
inch iron rod (set) for corner at the end of said curve;

THENCE
North 20 degrees 50 minutes 30 seconds East continuing with said right of way line, a distance of 136.58 feet to a 1/2
inch iron rod (set) for corner and being the beginning of a curve to the right;

THENCE continuing with said
proposed right of way line and a long said curve to the right having a Delta of 57 degrees 41 minutes 33 seconds, a Radius of 197.50
feet, a Chord which bears North 49 degrees 41 minutes 17 seconds East-190.57 feet and an Arc Length of 198.87 feet to a 1/2
inch iron rod (set) for corner at the end of said curve;

THENCE
North 78 degrees 32 minutes 03 seconds East continuing with said proposed right of way line, a distance of 625 .77 feet to a 1/2
inch iron rod (set) for corner and being the beginning of a curve to the left;

THENCE continuing with said
proposed right of way line and along said curve to the left having a Delta of 32 degrees 25 minutes 14 seconds a Radius of 175.55
feet, a Chord which bears North 62 degrees 19 minutes 26 seconds East-98.02 feet and an Arc Length of 99.34 feet to a 1/2
inch iron rod (set) for corner In same;

THENCE across the above referenced Lot 1 of Hart's
Island as follows:

South 25
degrees 21 minutes 57 seconds East a distance of 760.3 8 feet to a 1/2 inch iron rod (set) for corner,

South 21 degrees 59 minutes
54 seconds West a distance of 1154.00 feet to a 1/2 inch iron rod (set) for corner in the north high bank
of Sand Beach Bayou;

THENCE with the east and north high bank of said
Sand Beach Bayou as follows:

South 85 degrees 19 minutes 56 seconds West a
distance of 128.15 feet,

South 85 degrees 39 minutes 01 seconds West a distance
of 163.11 feet,

South 86 degrees 02 minutes 26 seconds West a distance of
149.91 feet and,

North 86 degrees 18 minutes 16 seconds West a distance
of 63.49 feet to a 1/2 inch iron rod (set) in east right of way line of the aforementioned State Highway
No. 1 (Youree Drive);

THENCE North 25 degrees 27
minutes 21 seconds West with the east right of way line of State Highway No. 1 (Youree Drive), a distance of 78.6 1 feet to a 1/2
inch iron rod (set) for an angle corner in said right of way line;

    	 

    	 

    

 

THENCE North 31 degrees 10
minutes 21 seconds West continuing with the said east right of way line, a distance of 100.50 feet to a 1/2
inch iron rod (set) for an angle corner in said right of way line.

THENCE North 25 degrees 27
minutes 21 seconds West continuing with the said east right of way line, a distance of 1093.56 feet to the PLACE OF BEGTNNING.

Less and Except Lot 10A, Regal Crossing Unit
2 per plat thereof recorded at Book 6000, Page 54. Registry No. 2152463, Caddo Parish, Louisiana Records.

NOW KNOWN AS:

LOTS 1, 2, 3, 4, 4-A, 5, 6,
11 AND 12, REGAL CROSS ING Being a Subdivision of Part of Fractional Section 37, Township 17 North, Range 13 West, Caddo Parish,
Louisiana, 13 Lots -39.499 Acres, a subdivision in the City of Shreveport, Caddo Parish, Louisiana, as per that plat recorded in
Book 5050, Pages 191- 192 under Registry No. 2097143 of the Records of Caddo Parish, Louisiana.

AND

LOTS 7 A, 8A and 9A REGAL
CROSSING UNIT 2 [Being a Resubdivision of Lots 7-10 of Regal Crossing as recorded in Book 5050, Pages 191-192 of the Conveyance
Records of Caddo Parish, Louisiana, Being located in Fractional Section 37, Township 17 North Range 13 West Caddo Parish, Louisiana,
Area 4.820 Acres], a subdivision in the City of Shreveport, Caddo Parish, Louisiana, as per that plat recorded in Book 6000, Page
54 under Registry No. 2152463 of the Records of Caddo Parish, Louisiana.

 

Village at Bay Park

 

Part
of Private Claims 19 and 30, West side of Fox River, being all of Lot 1, Volume 49 Certified Survey Maps, Page 1, Map No 7199 and
all of Lot 1, Volume 40 Certified Survey Maps, Page 317, Map No. 6140 and part of vacated Holmgren Way as described in Document
No. 2130409, Brown County Records, all in the Village of Ashwaubenon, County of Brown, State of Wisconsin, bounded and described
as follows: Commencing at the Brown County Certified Land Corner 30E/F-13/14(b), said corner being on the Southerly line of Private
Claim 30, West side of Fox River; thence along the Southerly line of Private Claim 30 South 64° 04' 11" East, 623.24 feet;
thence North 30° 04' 39" East, 34.97 feet to a point on the Northerly line of Willard Drive, said point being the point
of beginning; thence North 30° 04' 39" East, 835.53 feet to a point at the Northeasterly corner of Lot 3, Volume 15 Certified
Survey Maps, Page 325, Map No. 3015 and the Southerly line of Cormier Road; thence South 63° 58' 49" East, 703.67 feet
along the Southerly line of Cormier Road; thence Southeasterly 19.19 feet along a curve to the right whose radius is 12.00 feet,
and whose chord bearing is South 19° 04' 41" East, 17.21 feet, to a point on the Westerly line of Holmgren Way; thence
along the Westerly line of Holmgren Way South 26° 09' 44" West, 26.88 feet; thence continuing along the Westerly line
of Holmgren Way 436.68 feet on a curve to the left whose radius is 640.00 feet, and whose chord bearing is South 06° 39' 06"
West 428.25 feet; thence continuing along the Westerly line of Holmgren Way South 13° 06' 12" East, 60.93 feet; thence
continuing along the Westerly line of Holmgren Way 318.36 feet on a curve to the right whose radius is 560.00 feet, and whose 

    	 

    	 

    

 

chord
bearing is South 03° 19' 50" West, 314.09 feet; thence South 54° 45' 59" West, 59.54 feet to a point on the Northerly
line of Willard Drive; thence continuing on the Northerly line of Willard Drive North 64° 06' 39" West, 234.97 feet to
a point on the centerline of vacated Holmgren Way; thence along the centerline of vacated Holmgren Way North 26° 09' 44"
East, 240.00 feet; thence North 63° 58' 45" West, 219.85 feet to the Northeasterly corner of Lot 1 of Volume 35 Certified
Survey Maps, Page 262, Map No. 5416; thence South 26° 12' 04" West along the Easterly line of Lot 1 Volume 35 Certified
Survey Maps, Page 262, Map No. 5416, 240.15 feet to the Southeasterly corner of Lot 1 of Volume 35 Certified Survey Maps, Page
262, Map No. 5416 and the Northerly line of Willard Drive; thence along the Northerly line of Willard Drive North 64° 01' 23"
West, 592.93 feet to the point of beginning. EXCEPTING THEREFROM those portions conveyed for road purposes as described in Document
No. 2217221, corrected by Affidavit of Correction recorded as Document No. 2225865, and Document No. 217222 corrected by Affidavit
of Correction recorded as Document No. 2225866, and Document No. 2217223.

 

Whispering Ridge

 

PARCEL 1:

Lot Two (2) and Outlot A, Whispering Ridge Replat Seven,
a subdivision, Douglas County, Nebraska. PARCEL 2:

Outlot E, Whispering Ridge, a subdivision, Douglas
County, Nebraska.

 

Heritage Square

 

Tract 1:

All that tract or parcel of
land lying and being in Land Lot 243 of the 10th District, City of Conyers, Rockdale County, Georgia, and being more particularly
described as follows:

Commencing at a concrete monument
found at me nor1heasterly comer of the mitered right-of/way intersection of me existing westerly right-of-way of Georgia Highway
138/20 (also known as McDonough Highway, having a variable width right-of-way) and the existing nor1hem right-of-way of Georgia
Highway 138 (also known as Stockbridge Highway, having a variable 'width right-of-way); 1hence North 02 degrees 20 minutes 31 seconds
West a distance of 175.85 feet to a 5/8" rebar set, said 5/8" rebar set being the TRUE POINT OF BEGINNING. Thence leaving
said right-of-way South 89 degrees 59 minutes 30 seconds West a distance of 15&.48 feet to a PK nail set; hence North 57 degrees
33 minutes 59 seconds West a distance of 184.16 feet to a 3/4" open top pipe found; thence North 00 degrees 07 minutes 59
seconds East a distance of 184.72 feet to a 5/8" rebar set; thence North 89 degrees 07 minutes 49 seconds East a distance
313.68 feet to a PK nail set on me westerly right-of-way of Georgia Highway 138/20 (also known as McDonough Highway); 1hence along
said right-of-way the following courses and distances: South 00 degrees 51 minutes 55 seconds West a distance of 130.92 feet to
a concrete monument found; South 00 degrees 00 minutes 46 seconds East a distance of 113.08 feet to a 5/8" rebar set; South
02 degrees 19 minutes 29 seconds East a distance of 44.28 feet to a 5/8" rebar set, said 5/8" rebar set being the TRUE
POINT OF BEGINNING.

    	 

    	 

    

 

Tract 2:

All that tract or parcel of
land lying and being in Land Lot 243 of the 10th District, City of Conyers, Rockdale County, Georgia, and being more particularly
described as follows:

Beginning
at a concrete monument found at the nor1heasterly comer of the mitered right-of-way intersection of the existing westerly right-of-way
of Georgia Highway 138/20 (also known as McDonough Highway, having a variable width right-of-way) and the existing northern right-of
way of Georgia Highway 13-8 (also known as Stockbridge Highway, having a variable width right-of-way); thence along said proposed
right-of-way of Georgia Highway 138 the following courses and distances: South 87 degrees 07 minutes 38 seconds West a distance
of 1833 feet to a 5/8" rebar set; South 45 degrees 05 minutes 31 seconds West a distance of 5 1.83 feet to a 5/8" rebar
set; Nor1h 90 degrees 00 minutes 00 seconds West a distance of 182.79 feet to a 5/8" rebar set; North 87 degrees 43 minutes
13 seconds West a distance of36.31 feet to a PK nail set; North 90 degrees 00 minutes 00 seconds West a distance of 90.93 feet
to a 5/8" rebar set; thence leaving said right-of-way North 00 degrees 11 minutes 25 seconds West a distance of 311.01 feet
to a 5/8" rebar set; thence South 89 degrees 22 minutes 15 seconds East a distance of 44.95 feet to a 3/4" open top pipe
found; thence South 57 degrees 33 minutes ,59 seconds East a distance of 184.16 feet to a PK nail set; thence North 89 degrees
59 minutes 30 seconds East a distance of 158.48 feet to a 5/8" rebar set on the western right-of-way of Georgia Highway 138/20
(also known as McDonough Highway); thence along said right-of-way South 02 degrees 20 minutes 31 seconds East a distance of 175.85
feet to a concrete monument found on the existing right-of way of Georgia Highway 138/20, said concrete monument found being the
TRUE POINT OF BEGINING.

Walgreens Plaza

LEGAL DESCRIPTION – TRACT ONE

Lying in Jacksonville Township,
Onslow County, North Carolina, and being more particularly described as follows:

Beginning at an existing magnail;
said magnail being located S 57°16'04" E 761.92 feet from North Carolina Geodectic Survey Marker "Rita 1985"
(said marker having Nad 83/1986 grid coordinates, N=369,539.0870 feet, E=2,457,655.2618 feet); said marker "Rita 1985"
being further located S 57°04'56" E 3,560.2931 feet from North Carolina Geodectic Survey Marker "Hinson 1985"
(said marker having Nad 83/1986 coordinates N=371,473.8765 feet, E=2,454,666.5703 feet) (said markers having a combined factor
of 0.99991027).

    	 

    	 

    

 

Thence from said point of beginning
so located running N 56°16'23" E 21.00 feet to an existing magnail; thence N 33°43'37" W 70.21 feet to an existing
magnail; thence N 46°18'16" E 32.26 feet to a point; thence continuing N 46°18'16" E 20.08 feet to a point; thence
continuing N 46°18'16" E 127.88 feet to an existing magnail; thence N 20°17'44" E 28.96 feet to an existing magnail;
thence N 69°42'16" W 18.25 feet to an existing magnail; thence N 20°17'44" E 46.50 feet to an existing iron stake
in the right-of-way line of US HWY 258/NC HWY 24; thence with said right-of-way line S 69°42'16" E 15.05 feet to an existing
iron pipe; thence continuing with said right-of-way line S 65°53'55" E 87.85 feet to an existing iron pipe; thence continuing
with said right-of-way line S 65°53'55" E 143.06 feet to an existing right-of-way monument; thence S 20°41'14"
E 84.39 feet to an existing right-of-way monument; said right-of-way monument being located in the right-of-way line of NC HWY53;
thence with said right-of-way line S 46°18'16" W 85.52 feet to an existing iron pipe; thence S 46°18'16" W 184.81
feet to a point; thence S46°18'16" W 20.07 feet to a point; thence S 46°18'16" W 65.90 feet to an existing iron
pipe; thence leaving said right-of-way line and running N 43°41'44" W 61.74 feet to an existing magnail; thence N 33°43'37"
W 53.21 feet to an existing magnail; thence N 33°43'37" W 37.12 feet to a point; thence N 33°43'37" W 15.03 feet
to a point; thence N 33°43'37 W 24.85 feet to the point and place of beginning.

Containing 2.047 acres more
or less excluding road right-of-way, and being Tract 1 depicted on the map entitle "Recombination Map for Record Survey for
Walgreen Co.," dated January 2, 2009, recorded in Book 57, Page 109, SL M-943, in the Onslow County, NC, Register of Deeds
Office.

LEGAL DESCRIPTION –
TRACT TWO

Lying in Jacksonville Township,
Onslow County, North Carolina, and being more particularly described as follows:

Beginning at an existing iron
pipe; said existing iron pipe being located S 50°42'36" E 322.45 feet from North Carolina Geodectic Survey Marker "Rita
1985" (said marker having Nad 83/1986 Grid Coordinates, N=369,539.0870 feet, E=2,457,655.2618 feet); said Marker "Rita
1985" being further located S 57°04'56" E 3,560.2931 feet from North Carolina Geodectic Survey Marker "Hinson
1985" (said marker having Nad 83/1986 Coordinates N=371,473.8765 feet, E-2,454,666.5703 feet) (said markers having a combined
factor of 0.99991027).

    	 

    	 

    

 

Thence from said point of beginning
so located running N 79°02'09" E 86.84 feet to an existing PK Nail; thence N 73°06'36" E 44.67 feet to a point;
thence N 56°19'59" E 75.06 feet to a point; thence N 33°43'47" W 99.54 feet to an existing iron stake; said stake
being located on the right-of-way line of US HWY 258/NC HWY 24; thence running with and along said right-of-way line S 88°23'45"
E 40.98 feet to an existing magnail; thence continuing along said right-of-way line S 78°50'19" E 50.92 feet to a point;
thence S 78°50'19" E 18.61 feet to a point; thence S 78°50'19" E 133.96 feet to an existing magnail; thence S
69°42'16" E 87.98 feet to an existing magnail; thence S 69°42'16" E 53.72 feet to an existing iron stake; thence
leaving said right-of-way line and running S 20°17'44" W 31.50 feet to an existing magnail; thence S 69°42'16"
E 18.25 feet to an existing magnail; thence S 20°17'44" W 28.96 feet to an existing magnail; thence S 46°18'16"
W 127.88 feet to a point; thence S 46°18'16" W 20.08 feet to a point; thence S 46°18'16" W 32.26 feet to an existing
magnail; thence S 33°43'37" E 70.21 feet; thence S 56°16'23" W 21.00 to an existing magnail; thence S 33°43'37"E
24.85 feet to a point; thence S 33°43'37" E 15.03 feet to a point; thence S 33°43'37" E 37.12 feet to an existing
magnail; thence S 56°16'23" W 205.83 feet to an existing iron stake; thence N 34°13'38" W 116.09 feet to an existing
iron stake; thence N 55°46'22" E 48.00 feet to an existing iron stake; thence N 34°13'38" W 286.86 feet to an
existing iron stake; thence S 75°59'17" W 51.15 feet to an existing iron stake; thence N 34°13'38" W 45.96 feet
to the point and place of beginning.

Containing 3.033 acres more
or less excluding road right-of-way, and being Tract 2 depicted on the map entitled "Recombination Map for Record Survey for
Walgreen Co." dated January 2, 2009, recorded in Book 57, Page 109, SL M-943, in the Onslow County, NC, Register of Deeds
Office.

LEGAL DESCRIPTION –
TRACT THREE

Lying in Jacksonville Township,
Onslow County, North Carolina, and being more particularly described as follows:

Beginning at an existing iron
stake; said existing iron stake being located S 40°57'07" E 781.16 feet from North Carolina Geodectic Survey Marker "Rita
1985" (said marker having Nad 83/1986 Grid Coordinates, N=369,539.0870 feet; E=2,457,655.2618 feet) said marker "Rita
1985" being further located S 57°04'56" E 3,560.2931 feet from North Carolina Geodectic Survey Marker "Hinson
1985" (said marker having Nad 83/1986 coordinates N=371,473.8765 feet; E=2,454,666.5703 feet) (said markers having a combined
factor of 0.9991027).

Thence form said point of beginning
so located running N 56°16'23" E 205.83 feet to an existing magnail; thence S 33°43'37" E 53.21 feet to an existing
magnail; thence S 43°41'44" E 61.74 feet to an existing iron stake; said existing iron stake being located on the right-of-way
line of NC HWY 53; thence running with said right-of-way line S 46°18'16 W 184.98 feet to an existing magnail; thence N 88°39'46
W 40.61 feet to an existing magnail; said magnail being located on the right-of-way line of NCSR 1135; thence running with said
right-of-way line N 34°13'38" W 122.71 feet to the point and place of beginning; containing 0.627 acres more or less excluding
road right-of-way, and being Tract 3 depicted on the map entitled "Recombination Map for Record Survey for Walgreen Co."
dated January 2, 2009, recorded in Book 57, Page 109, SL M-943, in the Onslow County, NC, Register of Deeds Office.

    	 

    	 

    

 

LEGAL DESCRIPTION –
TRACT FOUR

Lying in Jacksonville Township,
Onslow County, North Carolina, and being more particularly described as follows:

Beginning at an existing iron
stake; said existing iron stake being located S 48°40'21" E 366.75 feet from North Carolina Geodectic Survey Marker "Rita
1985" (said marker having Nad 83/1986 Grid Coordinates, N=369,539.0870 feet, E=2,457,655.2618 feet); said marker "Rita
1985" being further located S 57°04'56" E 3,560.2931 feet from North Carolina Geodectic Survey Marker "Hinson
1985" (said marker having Nad 83/1986 Coordinates N=371,473.8765 feet, E=2,454,666.5703 feet) (said markers having a combined
factor of 0.99991027).

Thence from said point of beginning
so located running N 75°59'15" E 51.15 feet to an existing iron stake; thence S 34°13'38" E 286.86 feet to an
existing iron stake; thence S 55°46'22" W 48.00 feet to an existing iron stake; said existing iron stake being located
on the right-of-way line of NCSR 1135; thence running with said right-of-way line N 34°13'38" W 304.54 feet to the point
of beginning.

Containing 0.325 acres more
or less excluding road right-of-way, and being Tract 4 depicted on the map entitled "Recombination Map for Record Survey for
Walgreen Co." dated January 2, 2009, recorded in Book 57, Page 109, SL M-943, in the Onslow County, NC, Register of Deeds
Office.

 

    	 

    	 

    

 

Exhibit B

Form of Bill of
Sale

BILL
OF SALE

 

[NAME
OF SITE, CITY, STATE]

 

For good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, [SELLER], a [state] limited liability company ("Seller"),
does hereby sell, transfer and assign to [PURCHASER], a [state] limited liability company ("Purchaser"),
without representation, warranty or recourse, all of Seller’s right, title and interest in and to the equipment (excluding
computer hardware and software) and other personal property situated on the real estate located in _________, __________, and more
particularly described in Exhibit A attached hereto and incorporated herein (the “Real Estate”), owned
by Seller and used in the operation of the Real Estate (the “Personal Property”).

 

TO HAVE AND TO HOLD,
the Personal Property unto Purchaser, its successors and assigns.

The Personal Property transferred
pursuant to this Bill of Sale is conveyed AS-IS WHERE-IS WITHOUT ANY REPRESENTATION OF ANY KIND OR NATURE WHATSOEVER, INCLUDING
BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT.

 

This Bill of Sale is delivered
pursuant to that certain Purchase and Sale Agreement, dated as of _________, 2014, by and between Seller and Purchaser, and is
subject to all of the terms and conditions thereof, including without limitation Article VIII thereof.

 

[SIGNATURE
PAGE FOLLOWS]

    	

    	 

    

 

IN
WITNESS WHEREOF, Seller has executed this Bill of Sale as of the day and year first above written.

 

	 	SELLER:
	 	 	 
	 	
        [SELLER],

        a [state]
        limited liability company

	 	 	 
	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 

 

    	 

    	 

    

 

Exhibit C

Form of Assignment
of Leases

ASSIGNMENT
AND ASSUMPTION

OF
LEASES AND SECURITY DEPOSITS

 

[NAME
OF SITE, CITY, STATE]

 

THIS ASSIGNMENT AND ASSUMPTION
OF LEASES AND SECURITY DEPOSITS (“Assignment”) is entered into as of the ___ day of ______, 2014, by and between
[SELLER], a [state] limited liability company (“Assignor”), and [PURCHASER], a [state] limited liability company
(“Assignee”). Reference is hereby made to that certain Purchase and Sale Agreement, dated ___, 2014, between
Assignor and Assignee (the “Agreement”). Capitalized terms used herein but not defined herein shall have the
meaning ascribed to them in the Agreement.

 

1.Property. The “Property”
means the real property located in [city, state], commonly known as [name of site], and more particularly described in Exhibit
A attached hereto and incorporated herein.

 

2.Leases. The “Leases”
means those leases, tenancies, rental agreements and occupancy agreements affecting the Property, and more particularly described
in Exhibit B attached to this Assignment.

 

3.Security Deposits. “Security
Deposits” means those certain refundable security deposits held by or for Assignor on account of tenants under the Leases
as such deposits and with respect to which Assignee received a credit at the closing of the transaction with respect to which this
Assignment has been executed and delivered.

 

4.Assignment. For good and valuable
consideration received by Assignor, the receipt and sufficiency of which are hereby acknowledged, Assignor hereby grants, transfers
and assigns to Assignee the entire right, title and interest of Assignor in and to the Leases and the Security Deposits, and all
of Assignor's right, title and interest in and to all of the Actions (as such term is defined in the Agreement) listed on Exhibit
E relating to the Property (subject to any modifications of or supplements to Exhibit E based upon any disclosures provided
to Buyer by Seller since the date of the Agreement), but reserving unto Assignor all uncollected rent attributable to the period
prior to the date hereof pursuant to Section 3.4(b)(viii) of the Agreement.

    	 

    	 

    

 

5.Assumption. Assignee hereby
assumes the covenants, agreements and obligations of Assignor as landlord or lessor under the Leases as of the date of this Assignment,
and assumes the obligations under the Actions listed on Exhibit E to the Agreement relating to the Property (subject to
any modifications of or supplements to Exhibit E based upon any disclosures provided to Buyer by Seller since the date of
the Agreement). Assignee further assumes all liability of Assignor for the proper refund or return of the Security Deposits if,
when and as required by the Leases. Including but not limited to those events any obligations of items disclosed on disclosure
schedule.

 

6.Attorneys’ Fees. If
any action, suit, arbitration or other proceeding is instituted by any party to this Assignment for the purpose of interpreting
any of the terms hereof or to prevent or remedy a default hereunder by any other party, the prevailing party shall be reimbursed
by the non-prevailing party for all of such prevailing party’s reasonable attorneys’ fees incurred in each and
every such action, suit, arbitration or other proceeding, including any and all appeals or petitions therefrom. As used in this
paragraph, attorneys’ fees shall be deemed to mean the reasonable, actual costs of any legal services actually performed
in connection with the matters involved, calculated on the basis of the usual fee charged by the attorney and any paralegals and
legal staff performing such service.

 

7.Successors and Assigns. This
Assignment shall be binding upon and inure to the benefit of Assignor and Assignee and their respective successors and assigns.

 

8.Limited Liability. By accepting
this Assignment, but subject to Section 8(e) of the Agreement, Assignee agrees that it will look only to the proceeds of
the Property for the performance or liability for nonperformance of any and all obligations of Assignor hereunder, it being expressly
understood and agreed that no constituent member, manager or partner in or agent of Assignor,
nor any advisor, trustee, director, officer, employee, beneficiary, shareholder, participant, representative or agent of any corporation
or trust that is or becomes a constituent member in Assignor shall have any personal liability, directly or indirectly, under or
in connection with this Assignment, or any amendment or amendments hereto made at any time or times, heretofore or hereafter, and
Assignee and its successors and assigns and, without limitation, all other persons and entities, shall look solely to the proceeds
of the Property for the payment of any claim or for any performance, and Assignee, on behalf of itself and its successors and assigns,
hereby waives any and all such personal liability. This Section 8 is subject to, and not in limitation of, the limitations
on liability provided in Section 8(e) of the Agreement.

 

9.Counterparts. This Assignment
may be signed in any number of counterparts each of which shall be deemed to be an original and all of which taken together shall
constitute one and the same instrument.

[Signature Page Follows]

    	 

    	 

    

 

IN WITNESS WHEREOF, Assignor
and Assignee have executed and delivered this Assignment the day and year first above written.

 

 

	 	ASSIGNOR:
	 	 	 
	 	
        [SELLER],

        a [state]
        limited liability company

	 	 	 
	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 

 

 

	 	ASSIGNEE:
	 	 	 
	 	
        [PURCHASER],

        a [state]
        limited liability company

	 	 	 
	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 

 

    	 

    	 

    

 

Exhibit D

Form of General
Assignment

GENERAL
ASSIGNMENT AND ASSUMPTION AGREEMENT

THIS
GENERAL ASSIGNMENT AND ASSUMPTION AGREEMENT (this “Assignment”) is entered into as of the ___ day of ______,
2014, by and between [SELLER], a [state] limited liability company (“Assignor”), and [PURCHASER], a [state]
limited liability company (“Assignee”). Reference is hereby made to that certain Purchase and Sale Agreement,
dated ___, 2014, between Assignor and Assignee (the “Agreement”). Capitalized terms used herein but not defined
herein shall have the meaning ascribed to them in the Agreement.

 

1.              
Property. The “Property” means the real property located in [city, state], commonly known as [name
of site], and more particularly described in Exhibit A attached hereto and incorporated herein.

2.Assigned
Contracts. “Assigned Contracts” means those maintenance, supply, service and other agreements relating to
the Property that are described in Exhibit B attached to this Assignment.

3.Intangible
Property. The “Intangible Property” shall have the same definition ascribed to it in the Agreement.

4.Warranties
and Permits. “Warranties and Permits” shall mean, to the extent assignable, all of Seller’s right
title and interest in all warranties and permits applicable to the Property or any improvement or personal property located thereon.

5.Assignment.
For good and valuable consideration received by Assignor, the receipt and sufficiency of which are hereby acknowledged, Assignor
hereby grants, transfers and assigns to Assignee the entire right, title and interest of Assignor in and to the Assigned Contracts,
Intangible Property and Warranties and Permits.

6.Assumption.
Assignee hereby assumes the covenants, agreements and obligations of Assignor as landlord or lessor under the Assigned Contracts,
Intangible Property and Warranties and Permits as of the date of this Assignment. Assignee hereby assumes the covenants, agreements
and obligations of Assignor under the Assigned Contracts which are applicable to the period and required to be performed from and
after the date of this Assignment, but not otherwise. Assignor shall remain liable for all covenants, agreements and obligations
under the Assigned Contracts and all other contracts related to the Property for the period commencing July 1, 2014 and ending
on the date of this Assignment. Assignor and/or Assignee may introduce a copy of this Agreement in any dispute, litigation or other
proceeding involving a third party and any of the Assigned Contracts or other such contracts and, in such event, this Agreement
shall be deemed to be conclusive proof of the parties’ respective liabilities under and with respect to the Assigned Contracts
and such other contracts.

    	 

    	 

    

 

7.Attorneys’
Fees. If any action, suit, arbitration or other proceeding is instituted by any party to this Assignment for the purpose of
interpreting any of the terms hereof or to prevent or remedy a default hereunder by any other party, the prevailing party shall
be reimbursed by the non-prevailing party for all of such prevailing party’s reasonable attorneys’ fees incurred in
each and every such action, suit, arbitration or other proceeding, including any and all appeals or petitions therefrom. As used
in this paragraph, attorneys’ fees shall be deemed to mean the reasonable, actual costs of any legal services actually performed
in connection with the matters involved, calculated on the basis of the usual fee charged by the attorney and any paralegals and
legal staff performing such service.

8.Successors
and Assigns. This Assignment shall be binding upon and inure to the benefit of Assignor and Assignee and their respective successors
and assigns.

9.Limited
Liability. By accepting this Assignment, but subject to Section 8(e) of the Agreement, Assignee agrees that it
will look only to the proceeds of the Property for the performance or liability for nonperformance of any and all obligations of
Assignor hereunder, it being expressly understood and agreed that no constituent member, manager or partner in or agent of Assignor,
nor any advisor, trustee, director, officer, employee, beneficiary, shareholder, participant, representative or agent of any corporation
or trust that is or becomes a constituent member in Assignor shall have any personal liability, directly or indirectly, under or
in connection with this Assignment, or any amendment or amendments hereto made at any time or times, heretofore or hereafter, and
Assignee and its successors and assigns and, without limitation, all other persons and entities, shall look solely to the proceeds
of the Property for the payment of any claim or for any performance, and Assignee, on behalf of itself and its successors and assigns,
hereby waives any and all such personal liability. This Section 9 is subject to, and not in limitation of, the limitations
on liability provided in Section 3(e) of the Agreement.

10.Counterparts.
This Assignment may be signed in any number of counterparts each of which shall be deemed to be an original and all of which taken
together shall constitute one and the same instrument.

[Signature Page Follows]

    	 

    	 

    

IN
WITNESS WHEREOF, Assignor and Assignee have executed and delivered this Assignment the day and year first above written.

 

 

 

	 	ASSIGNOR:
	 	 	 
	 	
        [SELLER],

        a [state]
        limited liability company

	 	 	 
	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 

 

 

	 	ASSIGNEE:
	 	 	 
	 	
        [PURCHASER],

        a [state]
        limited liability company

	 	 	 
	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 

 

 

    	 

    	 

    

 

Exhibit E

 

Schedule of Litigation

 

		1.	Shoppes at Prairie Ridge – bankruptcy of Dots tenant (initiated prior to Merger Date).

 

		2.	Shoppes at Prairie Ridge – eviction of Tazino's tenant (initiated prior to Merger Date).

 

		3.	The Shoppes at Branson Hills – dispute with Peachtree Frozen Yogurt tenant regarding past due amounts (initiated prior
to Merger Date).

 

		4.	Prattville Town Center – dispute with Le's Enterprises, Inc./Cosmo Nails (initiated prior to Merger Date).

 

		5.	Heritage Square – dispute with All Vacuums tenant regarding collection of rental amounts (initiated prior to Merger Date).

 

		6.	Regal Court – dispute with Dick's Sporting Goods regarding the repair or replacement of certain storefront materials.

 

		7.	Hawk Ridge – potential dispute with prior owner of the Hawk Ridge Property regarding the lease with the UPS Store tenant.

    	 

    	 

    

 

Exhibit F

 

Rent Roll

 

[to be attached.]

    	 

    	 

    

 

Exhibit G

 

Contracts

 

The Shoppes at Branson Hills and Branson Hills Plaza

 

	Service Agreement, dated as of May 9, 2012, by and between North American Property Maintenance, Inc., and
Inland Diversified Branson Hills, LLC, for landscaping services.
	Service Agreement, commencing as of November 1, 2013, by and between North American Property Maintenance
and Inland Diversified Real Estate Services LLC, as agent for Inland Diversified Branson Hills, LLC, for snow removal services.
	Alarm Services Agreement, dated as of April 1, 2012, by and between Branson Security Services and Inland
Diversified Real Estate Services LLC.
	Service Agreement, dated as of May 9, 2012, by and between North American Property Maintenance, Inc., and
Inland Diversified Branson Hills, LLC, for porter/sweeper services, as amended by that certain Amendment to Service Agreement,
dated as of February 6, 2013, by and between North American Property Maintenance, Inc., and Inland Diversified Branson Hills, LLC.
	Service Agreement, dated as of September 12, 2013, by and between Precision Waste Solutions, LLC, and Inland
Diversified Real Estate Services LLC, as agent for Inland Diversified Branson Hills, LLC.

 

Eastside Junction

 

	Service Agreement, commencing as of May 1, 2012, by and between Athens Turf Management, Inc, and Inland Diversified
Athens Eastside, LLC, as amended by that certain Amendment to Service Agreement, dated as of April 11, 2013, by and between Athens
Turf Management and Inland Diversified Athens Eastside, LLC.
	Service Agreement, dated as of April 26, 2012, by and between Grayson Bailey Landscaping and Inland Diversified
Athens Eastside, LLC, as amended by that certain Amendment to Service Agreement, dated as of March 14, 2013, by and between Grayson
Bailey Landscaping and Inland Diversified Athens Eastside, LLC.
	Service Agreement, dated as of October 24, 2013, by and between Grounds Control of Huntsville, Inc., and
Inland Diversified Real Estate Services LLC, as agent for Inland Diversified Athens Eastside, LLC.
	Service Agreement, dated as of September 20, 2013, by and between Central Fire Protection, Inc., and Inland
Diversified Real Estate Services LLC, as agent for Inland Diversified Athens Eastside, LLC.

    	 

    	 

    

 

	Service Agreement, dated as of April 20, 2012, by and between BHT Grease Trap Services and Inland Diversified
Athens Eastside, LLC, as amended by that certain Amendment to Service Agreement, dated as of April 11, 2013, by and between BHT
Grease Trap Services and Inland Diversified Athens Eastside, LLC.
	Service Agreement, dated as of April 17, 2012, by and between Power Vac Services and Inland Diversified Athens
Eastside, LLC.
	Service Agreement, commencing as of May 1, 2012, by and between Fish Window Cleaning and Inland Diversified
Athens Eastside, LLC, as amended by that certain Amendment to Service Agreement, dated as of April 11, 2013, by and between Fish
Window Cleaning and Inland Diversified Athens Eastside, LLC.
	Service Agreement, commencing as of June 1, 2012, by and between Holt’s Pest Control and Inland Diversified
Athens Eastside, LLC, as amended by that certain Amendment to Service Agreement, dated as of April 11, 2013, by and between Holt’s
Pest Control Services and Inland Diversified Athens Eastside, LLC.

 

Harvest Square

 

	Service Agreement, dated as of January 2013, by and between Appalachia Landscaping and Inland Diversified
Harvest Square, L.L.C.
	Service Agreement, dated as of October 24, 2013, by and between Grounds Control of Huntsville, Inc., and
Inland Diversified Real Estate Services LLC, as agent for Inland Diversified Harvest Square, LLC.
	Service Agreement, dated as of September 20, 2013, by and between Central Fire Protection, Inc., and Inland
Diversified Real Estate Services, LLC, as agent for Inland Diversified Harvest Square, LLC.
	Service Agreement, dated as of February 9, 2012, by and between Metro Clean and Green and Inland Diversified
Harvest Square, LLC, as amended by that certain Amendment to Service Agreement, dated as of April 11, 2013.
	Outdoor Container License Agreement, dated as of January 31, 2012, by and between Precision Waste Solutions,
L.L.C., and Inland Diversified Real Estate Services, LLC.

 

Landing at Ocean Isle Beach

 

	Service Agreement, dated as of January 24, 2014, by and between Green Up Inc., and Inland Diversified Real
Estate Services LLC, as agent for Inland Diversified Ocean Isle Beach Landing, LLC.
	Monitoring Service Agreement, dated as of June 25, 2013, by and between SimplexGrinnell and Inland Diversified
Real Estate Services LLC.
	Service Agreement, commencing as of April 1, 2013, by and between Southco Commercial Property Maintenance
and Inland Diversified Ocean Isle Beach Landing, LLC, for vacant unit window cleaning services.
	Service Agreement, dated as of March 1, 2013, by and between Southco Commercial Property Maintenance and
Inland Diversified Ocean isle Beach Landing, LLC, for parking lot sweeping and additional services.

    	 

    	 

    

 

Shoppes at Prairie Ridge

 

	Service Agreement, dated as of April 3, 2012, by and between The Bristol Group and Inland Diversified Pleasant
Prairie Ridge, L.L.C.
	Service Agreement, commencing as of October 15, 2012, by and between The Bristol Group and Inland Diversified
Pleasant Prairie Ridge, L.L.C.
	Service Agreement, dated as of December 9, 2011, by and between Waste Management of Illinois, Inc., and Inland
Diversified Pleasant Prairie Ridge, LLC.
	Service Agreement, dated as of January 3, 2012, by and between Waste Management of Illinois, Inc., and Inland
Diversified Pleasant Prairie Ridge, LLC.

 

Copps Grocery Store

 

None.

 

Fox Point

 

	Service Agreement, dated as of April 3, 2012, by and between David J. Frank Landscape Contracting, Inc.,
and Inland Diversified Neenah Fox Point, L.L.C.
	Service Agreement, dated as of April 9, 2013, by and between Reliable Sweep Inc., and Inland Diversified
Neenah Fox Point, LLC.
	Service Agreement, dated as of November 29, 2011, by and between Waste Management of Illinois, Inc., and
Inland Diversified Neenah Fox Point, L.L.C.

 

Heritage Square

 

	Service Agreement, dated as of December 6, 2012, by and between Davis Brothers Landscaping and Inland Diversified
Conyers Heritage, LLC, for landscaping services.
	Service Agreement, dated as of October 24, 2013, by and between Davis Brothers Landscaping and Inland Diversified
Real Estate Services LLC, as agent for Inland Diversified Conyers Heritage, LLC, for snow removal services.
	Service Agreement, dated as of June 16, 2012, by and between Atlanta Sweeping Services and Inland Diversified
Conyers Heritage, LLC.
	Service Agreement, dated as of June 26, 2012, by and between Flexible Pest Services, LLC, and Inland Diversified
Conyers Heritage, LLC.

    	 

    	 

    

 

The Shoppes at Hawk Ridge

 

	Service Agreement, dated as of November 19, 2013, by and between Pro Lawns, Inc., and Inland Diversified
Real Estate Services LLC, as agent for Inland Diversified Lake St. Louis Hawk Ridge, LLC, for landscaping services.
	Service Agreement, dated as of October 22, 2013, by and between Pro Lawns, Inc., and Inland Diversified Real
Estate Services LLC, as agent for Inland Diversified Lake St. Louis Hawk Ridge, LLC, for snow removal services.
	Service Agreement, dated as of March 12, 2013, by and between Katsam, LLC, and Inland Diversified Lake St.
Louis Hawk Ridge, LLC.
	Customer Service Agreement, dated as of April 5, 2012, by and between Allied Services, LLC d/b/a Allied Waste
Services of Bridgeton and Inland Diversified Lake St. Louis Hawk Ridge, LLC.

 

Prattville Town Center

 

	Service Agreement, commencing as of February 1, 2013, by and between American Sweeping and Inland Diversified
Prattville Legends, L.L.C.
	Service Agreement, dated as of October 24, 2013, by and between American Sweeping, Inc., and Inland Diversified
Real Estate Services LLC, as agent for Inland Diversified Prattville Legends, LLC.
	Service Agreement, dated as of January 31, 2013, by and between Arrow Pest Control and Inland Diversified
Prattville Legends, L.L.C.
	Service Agreement, dated as of November 1, 2013, by and between Central Alabama Landcare, LLC, and Inland
Diversified Real Estate Services LLC, as agent for Inland Diversified Prattville Legends, LLC.
	Service Agreement, dated as of September 20, 2013, by and between Central Fire Protection, Inc., and Inland
Diversified Real Estate Services LLC, as agent for Inland Diversified Prattville Legends, LLC.
	Service Agreement, dated as of September 25, 2013, by and between Crosby Electric Company, Inc., and Inland
Diversified Real Estate Services LLC, as agent for Inland Diversified Prattville Legends, LLC.
	Service Agreement, dated as of March 6, 2014, by and between Peaches ‘n Clean Commercial Services and
Inland Diversified Real Estate Services LLC, as agent for Inland Diversified Prattville Legends, LLC, as amended by that certain
Amendment to Service Agreement, dated as of April 1, 2014, by and between Peaches ‘n Clean Commercial Services and Inland
Diversified Prattville Legends, LLC.
	Service Agreement, dated as of June 26, 2014, by and between Southeastern Striping, LLC, and Inland Diversified
Prattville Legends, LLC.
	Service Agreement, dated as of April 28, 2014, by and between Southeastern Striping, L.L.C., and Inland Diversified
Real Estate Services LLC, as agent for Inland Diversified Prattville Legends, LLC.

    	 

    	 

    

 

	Service Agreement, dated as of October 10, 2013, by and between Property Management Source, LLC, and Inland
Diversified Real Estate Services LLC, as agent for Inland Diversified Prattville Legends, LLC.
	Time and Materials Service Agreement, dated as of August 6, 2012, by and between Sylvania Lighting Services
and Inland Diversified Real Estate Services, LLC.
	Service Agreement, dated as of November 2012, by and between Waste Away Group Inc. d/b/a Waste Management
of South Alabama, and Inland Diversified Prattville Legends, LLC.

 

Fairgrounds Crossing

 

	Service Agreement, dated as of June 9, 2012, by and between Navigator Property Maintenance and Inland Diversified
Hot Springs Fairgrounds, LLC, for landscaping services.
	Service Agreement, dated as of October 24, 2013, by and between Navigator Property Maintenance and Inland
Diversified Real Estate Services LLC, and Inland Diversified Hot Springs Fairgrounds, LLC, for snow removal services.
	Monitoring Proposal/Agreement, dated as of October 17, 2011, by and between Dunk Fire & Security and
Inland Diversified Hot Springs Fairgrounds, LLC.
	Service Agreement, dated as of May 14, 2012, by and between Brooks Grease Service, Inc., and Inland Diversified
Hot Springs Fairgrounds, LLC.
	Service Agreement, commencing as of September 1, 2012, by and between Navigator Property Maintenance and
Inland Diversified Hot Springs Fairgrounds, LLC, for porter/sweeper services.

 

Regal Court

 

	Service Agreement, dated as of July 9, 2013, by and between Lawnmasters of Shreveport, LLC, and Inland Diversified
Real Estate Services LLC, as agent for Inland Diversified Shreveport Regal Court, LLC.
	Monitoring Information & Agreement, dated as of May 26, 2010, by and between Inland Diversified Real
Estate Services Inc., and AAA Safety, Inc., as amended by that certain Amendment to Service Agreement, dated as of November 5,
2013, by and between AAA Safety, Inc., and Inland Diversified Regal Court, LLC.
	Service Agreement, dated as of October 3, 2013, by and between Fire Tech Systems, Inc., and Inland Diversified
Real Estate Services LLC, as agent for Inland Diversified Shreveport Regal Court, LLC.

    	 

    	 

    

 

	Service Agreement, dated as of March 11, 2012, by and between True Line Pavement Striping & Stencils,
and Inland Diversified Real Estate Services, L.L.C., as agent for Inland Diversified Shreveport Regal Court, L.L.C., as amended
by that certain Amendment to Service Agreement, dated as of March 11, 2012, by and between True Line Pavement Striping & Stencils,
and Inland Diversified Shreveport Regal Court, L.L.C.
	Service Agreement, dated as of February 28, 2013, by and between Law’s Sweeping, LLC, and Inland Diversified
Shreveport Regal Court, LLC.
	Service Agreement, dated as of April 30, 2013, by and between Precision Waste, and Inland Diversified Shreveport
Regal Court, L.L.C.
	Orkin Pest Control Commercial Services Agreement, dated as of February 8, 2011, by and between Orkin Pest
Control and Inland Diversified Real Estate Services.

 

Walgreen’s Plaza

 

	Service Agreement, dated as of December 31, 2012, by and between Butler Trieu, Inc., and Inland Diversified
Real Estate Services LLC, as agent for Inland Diversified Jacksonville Richlands, LLC, for landscaping services.
	Service Agreement, dated as of December 31, 2012, by and between Butler Trieu, Inc., and Inland Diversified
Real Estate Services LLC, as agent for Inland Diversified Jacksonville Richlands, LLC, for sweeping and porter services.
	Service Agreement, dated as of December 31, 2012, by and between Butler Trieu, Inc., and Inland Diversified
Real Estate Services LLC, as agent for Inland Diversified Jacksonville Richlands, LLC, for pressure washing services.

 

Whispering Ridge

 

	Service Agreement, dated as of October 3, 2013, by and between Lawn Land & Beyond, LLC, and Inland Diversified
Real Estate Services LLC, as agent for Inland Diversified Omaha Whispering Ridge, LLC.
	Service Agreement, dated as of January 3, 2013, by and between Amerilawn of Nebraska and Inland Diversified
Omaha Whispering Ridge, L.L.C.

    	 

    	 

    

 

Village at Bay Park

 

	Service Agreement, dated as of April 3, 2012, by and between David J. Frank Landscape Contracting, Inc.,
and Inland Diversified Ashwaubenon Bay Park, L.L.C.
	Service Agreement, dated as of October 31, 2013, by and between 1st Choice Landscaping and Inland
Diversified Real Estate Services LLC, as agent for AIG Baker Bay Park, LLC.
	Monitoring Service Agreements for Building A, Building B, Building C, Building D and Building E, dated as
of March 14, 2011, by and between SimplexGrinnell and Inland Diversified Ashwaubenon Bay Park, L.L.C.
	Service Agreement, commencing as of June 1, 2012, by and between Reliable Sweep, Inc., and Inland Diversified
Ashwaubenon Bay Park, L.L.C.
	Service Agreement, dated as of March 1, 2011, by and between Waste Management and Inland Diversified Ashwaubenon
Bay Park, L.L.C.

 

    	 

    	 

    

 

Exhibit H

 

Preapproved Leases

 

	Property	Tenant
	Regal Court	Party City
	Regal Court	Carter’s
	Regal Court	Bunt Cakes
	Prattville Town Center	Kirkland’s
	Walgreen’s Plaza	ER Care
	Shoppes at Prairie Ridge	Barre & Co.

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