Document:

EX-10.2

 Exhibit 10.2 
 PURCHASE AND SALE AGREEMENT 
 THIS PURCHASE AND SALE AGREEMENT
(“Agreement”) is made as of this 13th day of May, 2013 (the “Effective Date”) by and between ECHO DILLSBURG, L.P., a Delaware limited partnership, (“Seller”), and WARREN COMMONS ASSOCIATES, LLC, a Virginia limited
liability company, or assigns (“Purchaser”). 
 WITNESSETH: 

WHEREAS, Seller owns land containing approximately 11.66 acres of land in Conewango Township, Warren County, Pennsylvania, as more fully
hereinafter described, and desires to sell same to Purchaser; and 
 WHEREAS, Purchaser desires to acquire such vacant land and
related assets; 
 NOW, THEREFORE, for and in consideration of the mutual covenants and agreements herein contained, the parties
agree as follows: 
 1. Property. Subject to the terms and conditions hereof, Seller agrees to sell to Purchaser, and
Purchaser agrees to purchase from Seller, the following described property: 
 A. All those certain tracts or parcels of land
located in Conewango Township, Warren County, Pennsylvania, consisting of approximately 11.66 acres of land as more particularly described on Exhibit “A” attached hereto and by this reference incorporated herein, together with any
improvements located thereon owned by Seller (the “Improvements”), and together with all appurtenances, rights, easements, rights of way, tenements and hereditaments incident thereto and all title and interest, if any, of Seller in and to
any land lying in the bed of any street, road or avenue, open, closed or proposed, in front of or adjoining said tracts of land (said tracts of land, the Improvements and all other rights described above being hereinafter collectively referred to as
the “Real Property”); and 
 B. To the extent of Seller’s interest therein, if any, and to the extent assignable,
all reciprocal easement agreements, operating agreements, development agreements, warranties, guarantees and bonds, certificates of occupancy, trade names, service marks, service contracts (to the extent assumed by Purchaser), governmental and
regulatory licenses and permits (including any permits relating to stormwater management), final working drawings, engineering plans, utilities lay-out plans, surveys, topographical plans and plans and specifications with respect to the development,
use or operation of the Real Property (the “Intangible Property”). 
 The Real Property and the Intangible Property
are hereinafter collectively referred to as the “Property”. 
 2. Purchase Price and Terms of Payment.

 A. The purchase price (“Purchase Price”) for the Property shall be Two Hundred Thousand and 00/100 DOLLARS
($200,000.00) and shall be paid on the Closing Date by Federal funds wire transfer, in United States dollars. 
 B. B. The
Purchase Price shall be payable in cash, or by wire transfer or other immediately available funds, to Seller on the Closing Date. 

  
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 3. Review Period; Inspection. 

A. At all times during the period commencing on the Effective Date and terminating on the date that is sixty (60) days thereafter
(the “Review Period”), Purchaser, its agents, employees, representatives and contractors, at Purchaser’s sole cost and expense, shall have the rights: 
 1. To enter upon the Real Property described in Exhibit “A” at all reasonable times, and after reasonable advance notice to Seller, to perform such tests, inspections and examinations of
the Real Property described in Exhibit “A” as Purchaser reasonably deems advisable, and to make investigations with regard to title to the Real Property, environmental matters, matters of survey, flood plain of the Real Property,
utilities availability, zoning and building code and other applicable governmental requirements with regard to the Real Property and the use thereof; provided that, prior to any such entry, Purchaser shall comply with all of the provisions of
Section 3 of this Agreement. With respect to the foregoing investigations, Purchaser, its agents, employees, representatives and contractors, may enter upon the Real Property described in Exhibit “A” and do all things necessary
in connection therewith, and provided they do not adversely affect any portion of the Property. Purchaser shall not, and shall cause its agents, consultants, contractors, subcontractors, and its or their respective agents, employees or
representatives agents, employees and representatives not to otherwise unreasonably disturb any of such parties while conducting its inspections, tests and studies. Purchaser shall indemnify, defend and hold Seller harmless from and against all
cost, loss, liability, damage and expense, including reasonable attorneys’ fees (including costs of enforcing this provision) arising out of any violation of this Section 3 and any other actions or omissions of Purchaser or any of its
contractors or subcontractors or any of its or their respective agents, employees or representatives, whether or not involving negligence or greater fault, relating to the activities upon the Real Property pursuant to the terms of this paragraph;
and 
 2. After reasonable advance notice to Seller, to investigate and review any and all books and records relating to the
Property service agreements, operating statements, warranties, guarantees or bonds, governmental or regulatory licenses and permits, plans and specifications and other items relating to the Property. Within five (5) days of the Effective Date
Seller shall forward to Purchaser true and complete copies of all the items set forth on Exhibit “B” to the extent that such items are in its possession or control. At all reasonable times as requested by Purchaser, Seller shall make
available to Purchaser, its counsel and accountants, all financial and operating data and other books and records pertaining to the Property under Seller’s control. 

  
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 B. Purchaser shall comply with the following in connection with each exercise of rights
pursuant to subsection A. above: 
 1. Each person and entity whom Purchaser shall propose to enter the Property shall be
competent and duly licensed to perform the investigation of the Property to be performed by such person or entity and shall otherwise be subject to the prior approval of Seller, which approval shall not be unreasonably withheld; 

2. Each person and entity who shall enter the Property shall first deliver to Seller evidence of public liability and property damage
insurance naming such person as insured and Seller as an additional insured, in an amount not less than One Million Dollars ($1,000,000); 
 3. No core sampling, drilling or other type of invasive testing shall be permitted unless (A) Seller shall have a received evidence of the need therefor based on a Phase I environmental assessment by
duly qualified personnel, indicating a need for such further testing, and (B) Seller shall have approved the location and extent of any such testing, which consent shall not be unreasonably withheld, delayed or conditioned; 

4. Purchaser shall comply, and shall cause each person and entity involved in any activity in connection with or as a result of
Purchaser’s investigation to comply, with all applicable laws, regulations, ordinances, orders and other legal requirements in connection with any activity undertaken with respect to the Property; 

5. It is understood that any approval given by Seller shall be solely for Seller’s own protection and shall not be construed to
waive or limit any obligation of Purchaser under this Agreement or otherwise; 
 C. Purchaser shall have the right during the
Review Period to determine that it is satisfied, in its sole and absolute discretion, with the results of any of the tests, inspections or investigations relating to the Property or the operation thereof, and that the Property is suitable in all
respects for Purchaser’s intended purposes or needs. In the event Purchaser does not, prior to the end of the Review Period, notify Seller in writing of the waiver of its right to terminate this Agreement pursuant to its review of the items as
set forth in this Section 3, this Agreement shall automatically terminate without requirement of further action on the part of Purchaser or Seller. In the event of any termination of this Agreement, Purchaser shall immediately return to Seller
any documents, plans, studies or other materials that were provided to Purchaser by Seller related to the Property and neither party shall have any further liability or obligations to the other hereunder; provided, however, that the obligations
contained in this Section 3 shall survive the termination of this Contract. 
 D. Purchaser shall purchase the Property in
its AS IS, WHERE IS condition with all faults of any kind or nature whatsoever, it being understood that, except for the warranties or representations of Seller expressly set forth in this Agreement that expressly survive the closing (and only for
the period of time expressly so surviving), Seller in no way represents or warrants, and specifically disclaims any responsibility or liability with respect to, (i) the condition or quality of the Property, (ii) the suitability of the
Property for Purchaser’s intended use or (iii) the presence of any other conditions that affect the Property, including without limitation the presence of hazardous substances or materials in violation of applicable environmental or other
laws. 
 E. The provisions of this Section 3 shall survive the termination of this Agreement and the closing of this
transaction and delivery of the Special Warranty Deed, and shall not merge therein or be extinguished thereby. 

  
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 4. Title. 
 A. Purchaser shall obtain a current ALTA owner’s title commitment for title insurance (the “Title Commitment”) issued by Chicago Title Insurance Company, together with true and complete
copies of all exceptions contained therein. Purchaser shall order, at its cost and expense, an ALTA Survey (the “Survey”). Upon the receipt of the Title Commitment and the Survey, Purchaser shall promptly review such information. In all
events, at least ten (10) days before the expiration of the Review Period, Purchaser shall furnish a copy thereof to Seller, together with a statement either that Purchaser approves title to the Property (including all Permitted Exceptions (as
hereinafter defined) or that identifies exceptions shown in the Title Commitment that Purchaser requests Seller to remove (“Purchaser’s Notice”). If Purchaser shall not timely give Purchaser’s Notice, Purchaser shall be deemed to
have found the title to the Property to be unacceptable and to have elected to terminate this Agreement. If Purchaser’s Notice shall request Seller to remove any exceptions shown in the Title Commitment, then within five (5) days after
receipt of Purchaser’s Notice, Seller shall give notice (“Seller’s Notice”) to Purchaser stating those exceptions, if any, so identified in Purchaser’s Notice that Seller is willing to undertake to satisfy; provided however
that, if Seller shall not timely give Seller’s Notice, then Seller shall be deemed to have elected not to undertake any efforts to remove any such exceptions. If, in Seller’s Notice, Seller shall have elected to undertake any efforts to
remove any such exceptions, Seller shall not have an obligation to remove the same and, by further notice to Purchaser, may discontinue such efforts at any time during the Review Period. Purchaser may terminate this Agreement if Seller provides such
notice of discontinuance of efforts during the Review Period. If Purchaser does not terminate this Agreement, then such matter shall be considered a Permitted Exception. If Seller shall have elected in Seller’s Notice (or shall be deemed to
have elected) not to undertake efforts to remove any exceptions identified in Purchaser’s Notice to be removed, then Purchaser, by further notice to Seller within five (5) days after the due date of Seller’s Notice shall either
terminate this Agreement or shall accept such exceptions as Permitted Exceptions. In the absence of any such further notice by Purchaser, Purchaser shall be deemed to have elected to terminate this Agreement. In the event that Chicago Title
Insurance Company adds new exceptions to its Title Commitment for matters that are of record as of the Effective Date but were omitted by the title company in the original Title Commitment after the above title process has been completed, the above
title process will be initiated again to address any such new exceptions to the Title Commitment. 
 B. Title to the Property
shall be good and marketable, free and clear of all mortgages, liens and encumbrances, and free and clear of all leases, security interests, restrictions, rights-of-way, easements and other matters, except for the Permitted Exceptions. For purposes
of this Agreement, “Permitted Exceptions” shall mean all title matters and exceptions to which Purchaser does not object pursuant to Section 4 A hereinabove and any other matters deemed to be Permitted Exceptions as provided in
Section 4 A hereinabove. 

  
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 5. Seller’s Representations and Warranties. Seller warrants and represents to
Purchaser as follows, which warranties and representations shall be deemed made on the Effective Date and shall be reaffirmed at Closing (subject to any change hereafter occurring with respect to the information referred to in subsections E. F., H.
I., or J.). 
 A. The title to the Property is, and at Closing will be, free and clear of all liens, encumbrances or leases,
except the Permitted Exceptions. It shall be a condition to Purchaser’s obligation to proceed to the Closing that title to the Property will be marketable and good of record and insurable at standard title insurance company rates of Chicago
Title Insurance Company, subject only to the Permitted Exceptions. 
 B. Seller is a validly existing Delaware limited
partnership in good standing and has the authority to enter into and perform its obligations under this Agreement. The person executing this Agreement on behalf of Seller has been authorized to do so. 

C. The execution and delivery of this Agreement do not, and the consummation of the transaction contemplated hereby will not in any
material respect, require any approval, consent, authorization or order of, or filing with, any private party or any governmental agency or body or violate any law, rule or regulation or any order, arbitration award, judgment or decree to which
Seller is a party or by which it or any of the Property is bound. 
 D. The Property is not subject to any option contract or
other sales contract, or to any leases or other occupancy agreements created by Seller. 
 E. Seller has no knowledge of, and
has received no notice from, any governmental authority requiring any work, repairs, construction, alterations or installations on or in connection with the Property, or asserting any violation of any federal, state, county or municipal laws,
ordinances, codes, orders, regulations or requirements affecting any portion of the Property, including, without limitation, any applicable environmental laws or regulations. There is no action, suit or proceeding pending or, to the knowledge of
Seller, threatened against or affecting Seller or the Property or any portion thereof or relating to or arising out of the ownership of the Property, in any court or before or by any federal, state, county or municipal department, commission, board,
bureau or agency or other governmental instrumentality. The Seller is not a debtor in any bankruptcy or other insolvency proceeding. 
 F. The Seller has not received from any governmental authority any written notice of, and the Seller presently has no knowledge of, pending or contemplated condemnation proceedings affecting the Property.

 G. At or before the Closing, Seller shall duly terminate any management or leasing contract or fee arrangement between Seller
and any other party for or in connection with the Real Property, all payments due thereunder will be paid in full by Seller at or prior to Closing, and Seller shall hold Purchaser harmless from any claims thereunder, unless Purchaser, at its sole
option, assumes any such agreement in writing. 

  
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 H. Seller has not received any notice from any insurance company or any board of fire
underwriters (or other body exercising similar functions) claiming any defects or deficiencies with respect to, or requesting the performance of any repairs, alterations or other work to, the Property. 

I. To Seller’s knowledge without investigation, except as may be set forth in any environmental assessment to be delivered to
Purchaser pursuant to Section 3 of this Agreement or as otherwise disclosed to Purchaser within five (5) days after the Effective Date, (i) the Real Property described in Exhibit “A” is not in violation of any
applicable environmental law, including without limitation the Resource Conservation and Recovery Act of 1976, as amended (42 U.S.C. Section 6901 et seq.) and the Comprehensive Environmental Response Compensation and Liability Act of 1980, as
amended (42 U.S.C. Section 9601 et seq.); (ii) no underground storage tanks, asbestos (either commercially processed or excavated raw materials), electrical transformers, fluorescent light fixtures with ballast, or other items or
equipment containing polychlorinated biphenyls (“PCBs”), or other material regulated by any applicable environmental law (“Hazardous Materials”) are present on the Real Property described in Exhibit “A” in
violation of any applicable environmental law; and (iii) Seller has not received any information from neighboring property owners indicating they have any concerns about existing environmental conditions which could affect the Property or
suggesting they might look to Seller for contribution to clean up or remediate such condition. In the event Purchaser shall discover such Hazardous Materials, toxic substances, tanks or other unsatisfactory (in Purchaser’s sole discretion)
environmental conditions on the Property at any time prior to Closing, as Purchaser’s sole remedy, Purchaser shall have the right to terminate this Agreement upon written notice thereof to Seller. Notwithstanding anything to the contrary
herein, the effect of the representations made in this subsection shall be deemed to be modified to the extent of any information to the contrary obtained by any inspections, tests or investigations made by Purchaser or any of its agents,
consultants, contractors, subcontractors, or any of its or their respective agents, employees or representatives agents, employees and representatives prior to the end of the Review Period. 

J. To Seller’s knowledge, no assessments or charges for any public improvements have been made against the Property which remain
unpaid and no improvements to the Property or any roads or facilities abutting the Property have been made or ordered for which a lien, assessment or charge can be filed or made. 

K. Deleted Intentionally. 
 L. Deleted Intentionally. 
 M. Deleted Intentionally. 

N. If, after Seller’s execution hereof, any event occurs or condition exists which renders any of the representations contained
herein materially untrue or misleading, Seller shall promptly notify Purchaser in writing. 
 O. All documents provided to
Purchaser, including without limitation the items provided pursuant to Section 3(A)(2), are the complete originals or, if not originals, are true, accurate, and complete copies thereof. 

  
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 6. Purchaser’s Representations and Warranties. Purchaser represents and
warrants to Seller as follows: 
 A. This Agreement is validly executed and delivered by Purchaser and the performance by
Purchaser hereunder does not violate (i) any agreement or contract to which Purchaser is a party or (ii) any judgment, order, injunction, decree, regulation or ruling of any court or other governmental authority to which Purchaser is
subject. 
 B. The execution of this Agreement by Purchaser has been properly authorized and is the binding obligation of
Purchaser. 
 7. Seller’s Covenants. Seller covenants and agrees as follows: 

A. Seller will not (i) mortgage, pledge or subject the Property or any part thereof to an unbonded lien or other encumbrance,
(ii) permit any mechanic’s or materialmen’s lien to attach against the Real Property, (iii) execute or cause or permit to be placed of record any document affecting title to any portion of the Real Property, and (iv) enter
into, or subject any portion of the Property to, any option contract, sales contract, or any other agreement, pursuant to which any party shall have any right to purchase any portion of the Property and (v) enter into any lease without first
receiving Purchaser’s prior written approval, which approval shall not be unreasonably withheld. 
 B. Seller will not sell
or otherwise dispose of or remove any fixtures, mechanical equipment or any other item included within the Property. 
 C.
Seller will not do any act which will materially adversely affect the warranties, guarantees, bonds and other items delivered to Purchaser as specified in Section 1D, without the prior written consent of Purchaser. 

D. Deleted Intentionally. 
 E. Deleted Intentionally. 
 F. Seller will pay or cause to be paid all debts,
taxes, fees, assessments, commissions, and other obligations for which it is responsible related to the use and ownership of the Property up to the date of Closing, except for those items for which proration is agreed upon in accordance with the
provisions of Section 10 hereof, including, but not limited to: all real estate, personal property and other taxes of every kind; all charges for consumption of utilities; and all commissions or broker’s fees. 

  
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 G. Between the date of this Agreement and the Closing Date, Seller agrees that it will:
(i) manage and operate the Property only in the ordinary and usual manner, maintain in full force and effect until the Closing Date its current insurance policies; (ii) deliver the Property, subject to the Permitted Exceptions, on the
Closing Date in substantially the same condition it is in on the date of this Agreement, (iii) give prompt written notice to Purchaser, by overnight delivery from a recognized national carrier and facsimile, of any fire or other casualty
affecting the Property after the date of this Agreement; (iv) deliver to Purchaser, promptly after receipt by Seller, copies of all notices of violation issued by governmental authorities with respect to the Property received by Seller after
the date of this Agreement. 
 H. Seller shall maintain such reserves following Closing that Seller, in its good faith judgment,
deems to be necessary in order to satisfy its obligations, representations, covenants and warranties which by their nature or as otherwise noted herein survive Closing. 
 I. Seller shall request duly executed originals of estoppel certificates, each dated not earlier than ninety (90) days prior to the Closing, from all parties subject to any Reciprocal Easement
Agreement, if any, in the form (“REA Estoppel”) by which the parties to the REA shall certify that the REA is in full force and effect, has not been assigned, modified or amended in any way other than as set forth in a recorded document,
and to the knowledge of the party giving the estoppel, the other party is not in material default under the applicable instrument and all amounts, if any owing under the applicable agreement have been paid in full. If all of the REA Estoppels have
not been delivered to Purchaser in the required form within the aforesaid time period, Purchaser may elect to terminate this Agreement. 
 J. Deleted Intentionally. 
 8. Conditions. 

A. In addition to Purchaser’s absolute right to terminate this Agreement for any reason at any time during the Review Period, the
obligation of Purchaser under this Agreement to purchase the Property from Seller is subject to the satisfaction of each of the following conditions on or prior to the Closing Date, any of which conditions may be waived in whole or in part by
Purchaser by written waiver at or prior to the Closing Date: 
 1. Title to the Real Property shall be good and marketable as
required herein, free and clear of all liens, encumbrances and exceptions other than the Permitted Exceptions and Chicago Title Insurance Company shall be prepared to issue an owner’s title insurance policy pursuant to the Title Commitment
insuring the title to the Real Property, subject only to the Permitted Exceptions, in the amount of the Purchase Price or such lesser amount as Purchaser, in its sole discretion, shall determine and with such endorsements which Chicago Title
Insurance Company, prior to the end of the Review Period, shall have committed to issue upon payment of the appropriate premium therefor and no material change thereto shall have occurred prior to Closing. Seller shall discharge all liens against
the Property at Closing other than the Mortgage which is to be assumed by Purchaser and other Permitted Exceptions. 

  
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 2. Seller shall have performed, observed and complied with all material covenants,
agreements and conditions required by this Agreement to be performed by, observed and complied with on its part either on or prior to the Closing Date. 
 3. All of Seller’s representations and warranties contained herein shall be true and correct in all material respects as of the Closing Date, and Seller will deliver to Purchaser at Closing a
certificate to that effect (or disclosing any representations or warranties which are no longer true and accurate); provided that it shall be a condition to Purchaser’s obligation to proceed to the Closing that there shall not be any material
change in such representations or warranties set forth in such certificate. 
 4. The physical condition of the Property and
the title for the Property shall not have materially changed since the conclusion of the Review Period. 
 5. Deleted
Intentionally. 
 In the event any of the foregoing conditions to the Closing are not satisfied or waived in writing by
Purchaser as of the Closing Date, then, Purchaser may either (i) extend the date for Closing until such conditions are satisfied (but only if (A) the unfulfilled conditions shall have occurred by reason of a default by Seller hereunder
that can reasonably be cured within thirty (30) days, and (B) such extended period for the Closing shall not exceed such thirty (30)-day period, and if such condition shall not be fulfilled as of the end of such thirty (30)-day period,
then Purchaser may terminate this Agreement; (ii) terminate this Agreement (provided, however, that termination shall not be Purchaser’s exclusive remedy to the extent other remedies are permitted by this Agreement) or (iii) waive in
writing the satisfaction of any such conditions, in which event this Agreement shall be read as if such conditions no longer existed; provided, however, that if such failure of condition also constitutes or is accompanied by a default by Seller
hereunder, Purchaser shall have all applicable rights and remedies as set forth in Section 13 hereof, and the indemnity contained in Section 3A hereof shall survive Closing. Notwithstanding that certain of Seller’s representations and
warranties may be limited to the extent of actual knowledge of the facts stated therein, it shall be a condition precedent to Purchaser’s obligation to go to Closing that the facts stated in all such representations and warranties shall be
correct in all material respects as of the time of Closing. 
 B. The obligations of Seller under this Agreement to sell the
Property to Purchaser are subject to the satisfaction of each of the following conditions, any of which conditions may be waived in whole or in part by Seller by written waiver at or prior to the Closing Date: 

1. Purchaser shall have performed, observed and complied with all material covenants, agreements and conditions required by this
Agreement to be performed by, observed and complied with on its part either on or prior to the Closing Date. 
 2. All of
Purchaser’s representations and warranties contained herein shall be true and correct in all material respects. 

  
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 C. It shall also be a condition to the respective obligations of Seller and Purchaser to
proceed to the Closing that, simultaneously with the Closing, the closing under that certain Purchase and Sale Agreement (the “Related Agreement”), of even date herewith, between ECHO Warren Associates, L.P. and WHLR-Warren Commons, LLC,
takes place, it being understood (a) that Purchaser shall not be entitled to rely on this condition if WHLR-Warren Commons, LLC shall be in material default under the Related Agreement, and (b) that Seller shall not be entitled to rely on
this condition if ECHO Warren Associates, L.P. shall be in material default under the Related Agreement. 
 If the Closing shall
not have occurred on or before the Closing Date other than solely by reason of Seller’s default hereunder, then, Seller may either (i) extend the date for Closing until such conditions are satisfied (but only if (A) the unfulfilled
conditions shall have occurred by reason of a default by Purchaser hereunder that can reasonably be cured within thirty (30) days and (B) such extended period for the Closing shall not exceed such thirty (30)-day period, and if such
condition shall not be fulfilled as of the end of such thirty (30)-day period, then Seller may terminate this Agreement by notice to Purchaser prior to the end of such thirty (30)-day period), or (ii) terminate this Agreement (provided,
however, that termination shall not be Seller’s exclusive remedy to the extent other remedies are permitted by this Agreement) or (iii) waive in writing the satisfaction of any such conditions, in which event this Agreement shall be read
as if such conditions no longer existed; provided, however that, if such failure of condition also constitutes or is accompanied by a default by Purchaser hereunder, Seller shall have all applicable rights and remedies as set forth in
Section 14 hereof, and the indemnity contained in Section 3A hereof shall survive Closing. Notwithstanding that certain of Purchaser’s representations and warranties may be limited to the extent of actual knowledge of the facts stated
therein, it shall be a condition precedent to Seller’s obligation to go to Closing that the facts stated in all such representations and warranties shall be correct in all material respects as of the time of Closing. 

9. Closing. 
 A. Unless this Agreement is terminated by Purchaser or Seller as herein provided, the closing hereunder (“Closing”) shall be conducted in escrow by Chicago Title Insurance Company on the date of
closing of the Related Contract. or such later date to which the date for Closing may have been extended as herein provided (the “Closing Date”). 
 B. At Closing, in addition to any other documents required to be delivered under the terms of this Agreement, Seller shall deliver or cause to be delivered to Purchaser the following, copies of which
forms, if available in the case of third party documents, shall be delivered to Purchaser five (5) days prior to Closing: 

1. A special warranty deed, duly executed and acknowledged by Seller and in proper form for recordation, fee simple title to the Real
Property subject only to the Permitted Exceptions. If requested by Purchaser, the deed shall also describe the Real Property by reference to the physical survey obtained by Purchaser. 

  
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 2. A valid bill of sale or assignment of lease, as the case may be, of all of the
Additional Property, duly executed and acknowledged by Seller. 
 3. Deleted Intentionally. 

4. Deleted Intentionally. 
 5. A valid assignment, duly executed and acknowledged by Seller, assigning to Purchaser all of Seller’s interest in and to the Intangible Property. 

6. To the extent they are in Seller’s possession or control, originals of all licenses, permits, authorizations and approvals
required by law and issued by all governmental authorities having jurisdiction over the Real Property and copies of all certificates issued by the local board of fire underwriters (or other body exercising similar functions). 

7. To the extent they are in Seller’s possession or control, a complete set of the final working drawings, engineering plans,
utilities lay-out plans, topographical plans, all tenant improvement plans and the like used in the construction of the Improvements. 
 8. Such affidavits (limited to factual matters known to Seller except in the case of statements needed for mechanic’s lien coverage) as Chicago Title Insurance Company shall reasonably require
in order to issue policies of title insurance free of any exceptions for unfiled mechanics, materialmen’s or similar liens and parties in possession (other than the rights of other parties under the Permitted Exceptions). 

9. A certificate of non-foreign status as required by Section 1445 of the Internal Revenue Code. 

10. All keys, codes, or other security devices in Seller’s possession or control used in connection with the operation of the
Property. 
 11. Seller’s certificate pursuant to Section 8A.3 with respect to its representations and warranties.

 12. An indemnity by Seller in favor of Purchaser for all liabilities, losses , costs and expenses that Purchaser may incur
by reason of any tortious act or omission by Seller occurring prior to the Closing; provided that the foregoing shall be limited by the other provisions of this Agreement, including without limitation Section 3 and other provisions of this
Agreement relating to survival. 
 C. At Closing, in addition to any other documents required to be delivered under the terms of
this Agreement, Purchaser shall (i) execute and deliver (a) deleted, (b) the coal notice and certificate of residence in the deed, (c) an approved settlement statement; and (ii) deliver cash, wire transfer or other
immediately available funds payable to Seller in the amount of the funds at Closing, as specified in Sections 2. 

  
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 10. Adjustments. 

The following shall be adjusted between Seller and Purchaser and shall be prorated on a per diem basis as of the Closing Date, except as
noted below: 
 A. Deleted Intentionally. 
 B. Real estate taxes (on the basis of the actual fiscal years for which such taxes are assessed), personal property taxes, and assessments on the Property shall be apportioned pro rata between Seller and
Purchaser, with Seller responsible for the same to and including the day prior to the Closing Date and Purchaser responsible for the same from and after the Closing Date. Purchaser shall receive a credit in an amount equal to any taxes and
assessments unpaid as of the Closing Date and for which Seller is responsible hereunder. Seller shall receive a credit in an amount equal to any taxes and assessments which have been paid by Seller applicable to periods on or after the Closing Date.

 C. Deleted Intentionally. 
 D. Seller shall pay the cost of deed preparation. Seller and Purchaser shall each pay one half the amount of all transfer and recording taxes on the deed conveying the Real Property and any fees charged
by Chicago Title Insurance Company to act as settlement agent. Purchaser shall pay all charges of Chicago Title Insurance Company, including any abstracting costs, for issuance of the title commitment and owner’s title policy to Purchaser, the
cost of the Survey, the cost of any endorsement to the policy of title insurance. 
 E. All utilities, operating expenses and
other apportionable income and expenses paid or payable by Seller shall be apportioned pro rata on a per diem basis as of 12:01 A.M. on the date of Closing. Seller shall use its best efforts to cause any and all public utilities serving the Property
to issue final bills to Seller on the basis of readings made as of Closing and all such bills shall be paid by Seller. 
 F.
Deleted Intentionally. 
 G. With the exception of any adjustments to be made following the Closing Date, (a) if a net
amount is owed by Seller to Purchaser pursuant to this Section 10, such amount shall be credited against the Purchase Price, and (b) if a net amount is owed by Purchaser to Seller pursuant to this Section 10, such amount shall be paid
to Seller without an increase in the Purchase Price. 
 11. Possession. Possession of the Property shall be delivered as
of the Closing Date, subject only to the Permitted Exceptions. 
 12. Condemnation. In the event that any eminent domain
proceeding (including a temporary taking) affecting the Real Property or any part thereof is commenced or threatened 

  
 12 

 
by a governmental body having the power of eminent domain (a “Condemnation”), Seller shall immediately give Purchaser written notice thereof, and in the event, in Purchaser’s sole
discretion, such Condemnation has no material adverse effect on the Property, Purchaser shall receive the award resulting from the Condemnation, (or if not then received, the right to the same shall be assigned to Purchaser), and this transaction
shall be closed in the same manner as if no such Condemnation or other taking shall have occurred. However, if any such Condemnation has, or will have, in Purchaser’s sole discretion, a material adverse effect on the Property, Purchaser may
terminate this Agreement, in which event neither party shall have any further liability or obligations to the other hereunder; provided, however, that the indemnity contained in Subsection 3A hereof shall survive. 

13. Seller’s Default. In the event Seller shall be in breach or violation of, or shall fail or refuse to perform its
obligations under this Agreement, then Purchaser, as Purchaser’s sole remedy for such default, shall be entitled to seek an action for specific performance of this Agreement with no right to damages. 

14. Purchaser’s Default; Liquidated Damages. In the event Purchaser shall be in breach or violation of, or shall fail or
refuse to perform its obligations under this Agreement, the sum of $25.00 is hereby agreed to be adequate liquidated damages for Purchaser’s default hereunder, and Seller shall have no other rights or remedies, provided that the foregoing shall
not limit any damages or other remedies of Seller in the case of a default by Purchaser under any of the provisions of Section 3 of this Agreement. The parties acknowledge that the foregoing sum represents a reasonable effort to ascertain the
damages to Seller in the event of such a Purchaser default, which damages are difficult or impossible to quantify. 
 15.
Broker’s Commission. Seller shall be solely responsible for, and shall pay in cash at Closing, and only if Closing shall occur, a real estate commission to Dietz Commercial (the “Broker”) but only pursuant to the terms of any
separate written agreement to which Seller is a party. Seller represents and warrants to Purchaser, and Purchaser represents and warrants to Seller, that, except as provided in the preceding sentence, no commissions are due and owing any real estate
broker or salesperson (other than the Broker) in connection with this transaction arising out of its actions. Seller and Purchaser hereby each agree to indemnify, defend and hold the other harmless from and against any claim for any real estate
commission or similar fee arising out of its actions concerning the purchase and sale of the Property as contemplated by this Agreement. Seller acknowledges that Purchaser has disclosed that certain of its principals are licensed real estate agents
in the Commonwealth of Virginia. 
 16. Insurance; Risk of Loss. At all times until the Closing has been consummated,
Seller shall maintain in full force and effect casualty and liability insurance on or with respect to the Property, it being understood and agreed that all risk of loss with respect to the Property shall remain with Seller through Closing. In the
event that prior to the Closing Date, the Improvements on the Property are damaged, destroyed, or rendered unusable, in whole or in part, by fire, Condemnation, or other cause (“Casualty”), then the Purchaser may terminate this Agreement
by notice to the Seller within ten (10) days of Purchaser’s receipt of Seller’s notice of such damage or proceeding, in which case neither party shall have any further obligation or liability to the other by virtue of this Agreement,
except as otherwise expressly provided herein. 

  
 13 

 17. Survival of Covenants. All covenants, representations and warranties made by
Seller and Purchaser herein or in any other documents or instruments delivered pursuant hereto or in connection herewith shall survive the Closing for a period of three (3) years after Closing, but only as to those specific matters reasonably
detailed in appropriate legal proceedings against Seller filed on or before three (3) years after Closing; provided that Seller’s representation and warranty set forth in Section 5 (I) of this Agreement shall survive only as to
those specific matters reasonably detailed in appropriate legal proceedings against Seller filed on or before one (1) year after the Closing. Any recovery by reason of a breach of this Section or any other representation or warranty of Seller,
whether herein or in any document delivered in connection herewith shall be limited, in the aggregate, to an amount equal to the Purchase Price. 
 18. Assignment. Purchaser’s rights under this Agreement shall be assignable by Purchaser, without further consent of Seller, to an entity affiliated with or controlled by Purchaser or any of
Purchaser’s principals. In any such event, Purchaser shall be solely responsible for, and shall pay at or before the Closing, any additional transfer taxes payable as a result of any such assignment. 

19. Notices. All notices, requests or other communications permitted or required under this Agreement shall be in writing and
shall be communicated by personal delivery, by nationally recognized overnight delivery service (such as Federal Express), by certified mail, return receipt requested, or by facsimile transmission to the parties hereto at the addresses shown below,
or at such other address as any of them may designate by notice to each of the others. Notice given by facsimile shall be effective as of the successful transmission of the facsimile (as evidenced by a successful transmission report generated by the
sender’s facsimile equipment), but only if notice is sent the same day by another method permitted by this Section 19. 
  

			
	Seller:	  	ECHO Dillsburg , L.P.
		  	c/o ECHO Real Estate Services Company
		  	Attn: Managing Partner
		  	701 Alpha Drive
		  	Pittsburgh, PA 15238
		  	412.968.1664 telephone
		  	412.967.6141 fax
		
	Copies to:	  	ECHO Real Estate Services Company
		  	Attn: Legal Department
		  	701 Alpha Drive
		  	Pittsburgh, PA 15238
		  	412.968.1664 telephone
		  	412.967.6141 fax

  
 14 

			
		  	Joseph J. Barnes
		  	Barnes Dulac Watkins
		  	Two Gateway Center, 17 East
		  	603 Stanwix Street
		  	Pittsburgh, Pennsylvania 15222
		  	412.434.5856 telephone
		  	412.434.5554 fax
		
	Purchaser:	  	Warren Commons Associates, LLC
		  	Attn: Jon S. Wheeler and Rob Seidel
		  	Suite 200
		  	2529 Virginia Beach Boulevard
		  	Virginia Beach, Virginia 23452
		  	757.627.9088 telephone
		  	757.627.9081 fax
		
	Copy to:	  	Stuart A. Pleasants, attorney at law
		  	Suite 101
		  	2529 Virginia Beach Boulevard
		  	Virginia Beach, Virginia 23452
		  	757.275.7634 telephone
		  	757.627.9081 fax

 20. Intentionally Deleted. 

21. Like Kind Exchange Under Section 1031 of the Internal Revenue Code. The parties acknowledge that Seller or Purchaser may
wish to enter into a like kind exchange (either simultaneous or deferred) with respect to the Property (the “Exchange”) pursuant to the applicable provisions of Section 1031 of the Internal Revenue Code of 1986, as amended.
Notwithstanding anything to the contrary contained in this Agreement, Seller or Purchaser shall have the right to assign its interest under this Agreement without the other party’s consent for the sole purpose of enabling the assigning party to
effectuate the Exchange, including execution of any necessary acknowledgment documents; provided, however, that notwithstanding any such assignment, the assigning party shall not be released from any of its liabilities, obligations or indemnities
under this Agreement. The other party shall cooperate in all reasonable respects with the assigning party to effectuate such Exchange; provided, however, that: 
 A. Closing shall not be extended or delayed by reason of such Exchange; 
 B. The
non-assigning party shall not be required to incur any additional cost, expense or liability, contingent or otherwise, as a result of such Exchange, and the assigning party shall forthwith, on demand, reimburse the non-assigning party for any
additional cost, expense or liability, including attorney’s fees incurred by the non-assigning party as a result of the Exchange in reviewing documents; and 
 C. The assigning party’s ability to consummate the Exchange shall not be a condition to the obligations of assigning party under this Agreement, and the non-assigning party does not warrant and shall
not be responsible for any of the tax consequences to assigning party with respect to the transactions contemplated hereunder. 

  
 15 

 22. Miscellaneous. 

A. This Agreement shall be governed by, construed and enforced under the laws of the State of Pennsylvania, without regard to its
conflicts of laws provisions. 
 B. This Agreement sets forth the entire agreement and understanding between the parties with
respect to the transactions contemplated hereby and supersedes all prior agreements, arrangements and understandings which led to the subject matter hereof. 
 C. All the terms, covenants, representations, warranties and conditions of this Agreement shall be binding upon, and inure to the benefit of and be enforceable by, the parties hereto and their respective
heirs, personal representatives, executors, successors and permissible assigns. 
 D. Failure of any party at any time or times
to require performance of any provisions hereof shall in no manner affect the right at a later time to enforce the provision. No waiver by either party of any condition, or the breach of any term, covenant, representation or warranty contained in
this Agreement, whether by conduct or otherwise, in any one of more instances, shall be deemed a further or continuing waiver of condition or covenant, representation or warranty contained in this Agreement. 

E. Any amendment or modification of this Agreement shall be made in writing executed by the party sought to be charged thereby.

 F. Wherever used herein, the singular shall include the plural, the plural shall include the singular and the use of any
gender shall include all other genders. If Seller consists of more than one individual or entity, all individuals and entities comprising Seller shall be jointly and severally liable under this Agreement. In this Agreement, whenever general words or
terms are followed by the word “including” (or other forms of the word “include”) and words of particular and specific meaning, shall be deemed to include the words “including without limitation,” and the general words
shall be construed in their widest extent, and shall not be limited to persons or things of the same general kind or class as those specifically mentioned in the words of particular and specific meaning. 

G. The captions and Section headings contained herein are for convenience only and shall not be used in construing or enforcing any of
the provisions of this Agreement. 
 H. This Agreement may be executed, by facsimile or email, in two (2) or more
counterparts, each of which shall be deemed an original hereof, but all of which, together, shall constitute a single agreement. If executed by facsimile, the parties to this Agreement may rely on a facsimile copy as an original. 

  
 16 

 I. Time is of the essence with respect to every provision of this Agreement. 

J. If the expiration of any time period measured in days occurs on a Saturday, Sunday or legal holiday, such expiration shall
automatically be extended to the next day which is not a Saturday, Sunday or legal holiday. 
 SIGNATURES FOLLOW: 

  
 17 

							
	WARREN COMMONS ASSOCIATES, LLC
	
	 /s/ Jon S. Wheeler

	By Jon S. Wheeler, its Manager
	
	ECHO Dillsburg, L.P., a Delaware limited partnership
	By:	 	 ECHO Developers Fund I Managing Partner, L.P.,
 a Delaware limited partnership, its General Partner

		 	By:	 	ECHO Developers, LLC, a Pennsylvania limited liability company, its General Partner
				
		 		 	By:	 	 /s/ Thomas A. Karet

		 		 		 	Thomas A. Karet
		 		 		 	its Managing Partner

  
 18EX-10.1

 PURCHASE AND SALE AGREEMENT 

BETWEEN 

BROOK RUN ASSOCIATES, LLC 
 AS SELLER, 
 AND 

WHEELER REIT, L.P., 
 AS BUYER 
 DATE: AS OF MAY 10, 2013 

 PURCHASE AND SALE AGREEMENT 

THIS PURCHASE AND SALE AGREEMENT (this “Agreement”) is made as of the 10 day of May, 2013 (the “Effective
Date”) by and between BROOK RUN ASSOCIATES, LLC, a Virginia limited liability company (the “Seller”), and WHEELER REIT, L.P., a Virginia limited partnership (or its assignee pursuant to
Section 9.1) (the “Buyer”). 
 ARTICLE 1 

PURCHASE AND SALE 
 Section 1.1. Agreement of Purchase and Sale. Subject to the terms and conditions hereinafter set forth, on the Closing Date (as defined in Section 4.1), the Seller agrees to contribute,
assign and convey to Buyer, and Buyer agrees to acquire and accept from the Seller, the following: 
 (a) any and all right,
title and interest in and to the property having an address of 5615 Brook Road, Richmond, Virginia (the “Land”), which Land is more particularly described in Exhibit A attached hereto and incorporated herein by this
reference, together with all of the Seller’s right, title and interest in and to the buildings located thereon (the “Building”) and any other improvements and fixtures (together with the Building, the
“Improvements”) located thereon and all rights, privileges and appurtenances pertaining thereto including all right, title and interest in and to all rights-of-way and easements and strips and gores of land adjacent thereto (herein
collectively, the “Real Property”); 
 (b) any and all right, title and interest in and to all tangible
personal property and equipment located on the Real Property (the “Personal Property”); 
 (c) any and all
right, title and interest in and to the following: 
 (i) any and all leases, licenses and occupancy agreements in which Seller
is the landlord or licensor (as the same may have been amended, restated, supplemented, altered or otherwise modified from time to time), covering all or any portion of the Real Property and any lease guarantees (the “Leases”) all
of which Leases are listed and described on Schedule 1, as supplemented as set forth below, in each case to the extent they are in effect on the Closing Date (as defined in Section 4.1). Any Leases entered into after the Effective Date
in accordance with Section 5.2(b) hereof shall be deemed for purposes of this Agreement to constitute Leases, and the defined term Leases as used herein shall be deemed to have been revised to include and incorporate any such Leases;

 (ii) all rents and other sums due under such Leases (the “Rents”); and 

(iii) any and all security deposits or letters of credit held by or on behalf of Seller under the Leases (the “Security
Deposits”). 

  
 S-1

 (d) any and all of the Seller’s right, title and interest in and to the following (to
the extent they are in effect on the Closing Date): 
 (i) all service contracts and agreements (collectively, the
“Contracts”) relating to the upkeep, repair, maintenance, leasing, management and operation of the Real Property or the Personal Property, to the extent Buyer has agreed to assume one or more of the Contracts pursuant to
Section 3.2 hereof. Any Contracts entered into after the Effective Date in accordance with Section 5.2(c) hereof shall be deemed for purposes of this Agreement to constitute Contracts, and the defined term Contracts as used herein shall be
deemed to have been revised to include and incorporate any such Contracts; 
 (ii) all warranties and guaranties (express or
implied) issued to, and held in the name of, Seller in connection with the Real Property or the Personal Property (the “Warranties”); and 
 (iii) all permits, licenses, approvals and authorizations issued by any governmental authority in favor of Seller in connection with the Real Property (the property described in this Section 1.1(e)
being sometimes herein referred to collectively as the “Intangibles”). 
 The term “Property”
shall mean the Real Property, the Personal Property, the Leases, Rents, Security Deposits, and the Intangibles. 

Section 1.2. Consideration. The Seller is to sell, and Buyer is to acquire and accept, the Property for the sum of Nineteen
Million One Hundred Ninety Six Thousand Eight Hundred Fifty and 00/100 Dollars ($19,196,850.00) (the “Sale Price”). The Sale Price shall be subject to the credits, prorations and adjustments described under Section 4.4 hereof;
including Buyer’s assumption of the outstanding balance of the Existing Indebtedness (defined below), as more particularly described below. 
 Section 1.3. Method of Payment. The Sale Price shall be payable by Buyer (a) in the amount of the principal balance of the indebtedness more particularly described in Section 5.1(v)
(the “Existing Indebtedness”) at the time of Closing by Buyer’s assumption thereof, and (b) the balance in cash subject to the adjustments pursuant to Section 4.4 below and the amounts to be paid by Seller pursuant to
Section 4.5 below. 
 Section 1.4. Independent Contract Consideration. Buyer has as of the date hereof
delivered to the Seller the amount of TEN AND NO/100 DOLLARS ($10.00), the receipt and sufficiency of which is hereby acknowledged by the Seller (the “Independent Contract Consideration”), which amount the Seller and Buyer agree has
been bargained for as consideration for the Seller’s execution and delivery of this Agreement and Buyer’s right to inspect the Property pursuant to ARTICLE III. The Independent Contract Consideration is in addition to and independent of
any other consideration or payment provided for in this Agreement and is non-refundable in all events. 

  
 S-2

 ARTICLE 2 
 TITLE AND SURVEY 
 Section 2.1. Title, Survey and Zoning
Objections. 
 (a) On or prior to the Effective Date, Buyer shall request the Buyer’s title company (the “Title
Company”) to issue its title insurance commitment for the Real Property, along with all requested endorsements (which may require the issuance of a zoning compliance letter) (the “Title Commitment”) and may engage a
licensed surveyor to prepare an ATLA/ACSM survey of the Real Property (the “Surveys”). No later than 5:00 p.m. Virginia Beach, Virginia local time on the date sixty (60) days after the Effective Date (the “Approval
Date”) (with the period from the Effective Date to the Approval Date referred to herein as the “Due Diligence Period”), Buyer shall have the right to notify the Seller in writing of its objection to any matters disclosed by
the Title Commitment or the Survey or any other matters of record (collectively, the “Title Objections”). Upon receipt of any such timely written notice of Title Objections from the Buyer, the Seller may, but shall not be obligated
to, cure the Title Objections on or before the Closing Date. The Seller shall notify Buyer in writing within three (3) days of receiving the Title Objections as to its decision to either cure or not cure the Title Objections. Notwithstanding
the foregoing, in the event that the Title Objection is a monetary lien, charge or encumbrance voluntarily placed against the Property by Seller which is able to be removed by the payment of a certain sum, or a judgment or mechanics’ lien
caused by the acts of Seller, then Seller shall be required to cure the Title Objection by paying the certain sum or the sum required to remove the judgment or mechanics’ lien on or prior to the Closing Date (“Monetary Liens”).
In the event Buyer fails to deliver a notice of any Title Objections by the end of the Due Diligence Period, Buyer shall be conclusively deemed to have waived and accepted any and all matter which are of record as of the effective date of the Title
Commitment, including exceptions listed in the Title Commitment and matters that would be disclosed by a physical survey (other than the Monetary Liens). If the Seller fails to respond to Buyer’s written notice of any Title Objections with the
3-day time frame described above, the Seller shall be conclusively deemed to have elected to cure or satisfy the Title Objections. 
 (i) If the Seller elects by notice not to cure any Title Objection, then the Buyer’s sole right and remedy shall be, on the terms and conditions set forth below, either: (x) to elect not to
purchase the Property, in which event this Agreement shall be terminated; or (y) to complete the transactions contemplated hereby in accordance with this Agreement subject to such Title Objection without reduction in or abatement of the Sale
Price. 
 (ii) The Buyer shall exercise its options pursuant to clause (x) of Sections 2.1(a)(i) above by written notice
given to and received by the Seller within five (5) business days after the receipt by Buyer of Seller’s notice that the Seller will not cure the Title Objections. If the Buyer shall fail to send a written notice to the Seller exercising
the Buyer’s option set forth under clause (x) of Sections 2.1(a)(i) and/or (ii) within the applicable period, then the Buyer shall conclusively be deemed to have exercised the option set forth in clause (y) of
Section 2.1(a)(i). 
 Section 2.2. Permitted Exceptions. For purposes of this Agreement, the term
“Permitted Exceptions” shall mean all title exceptions and survey matters pertaining to the 

  
 S-3

 
Property which: (i) are of record as of the date of the Title Commitment and/or Survey (other than Monetary Liens) and are not the subject of a Title Objection made by Buyer pursuant to this
ARTICLE 2, or (ii) constitute Title Objections made by Buyer which Seller has elected not to cure (or have caused the Title Company to endorse or insure over), and which Buyer has elected (or is deemed to have elected) to accept pursuant to
this ARTICLE II, or (iii) are otherwise expressly stated in this Agreement as being Permitted Exceptions. 

Section 2.3. Conveyance of Title to Property. At Closing, Seller shall convey and transfer to Buyer, and Buyer shall accept,
fee simple title to the Property (subject only to the Permitted Exceptions) by execution and delivery of the Deed (as defined in Section 4.2(a)) from Seller to Buyer. 
 ARTICLE 3 
 DUE DILIGENCE INVESTIGATION; ACCESS 

Section 3.1. Delivery of Due Diligence Documents. Seller agrees to deliver to Buyer, without charge to Buyer, copies of the
documents set forth on Exhibit K, to the extent in possession of the Seller or reasonably available to the Seller at no additional expense to the Seller (collectively the “Due Diligence Documents”). In addition to the
foregoing, (1) Buyer shall have the right to interview tenants on the Property upon the giving of notice thereof to the Seller who shall have an opportunity to be present, and (2) Seller hereby agrees to promptly deliver or make available
to Buyer any other documents relating to the Property reasonably requested by Buyer 
 Section 3.2. Review and Approval
of Contracts. On or before the Closing Date, Buyer shall notify Seller in writing as to which of the Contracts, if any, Buyer elects to assume at Closing except that Buyer shall in all events assume the obligations of Seller to pay any and all
real estate commissions to Wheeler Real Estate, LLC pursuant to the Leases, accruing from and after the Closing Date with respect to any renewal term exercised by any Tenant on or after the Effective Date. Unless such notice is given by Buyer, Buyer
shall at and as of the Closing not assume such Contracts. Those Contracts not assumed by Buyer shall be terminated by the Seller as of the Closing Date. 
 Section 3.3. Access. Seller agrees to provide Buyer access to the Property following the Effective Date for the purpose of performing, at Buyer’s sole cost and expense, studies,
appraisals, physical inspections, investigations and any tests on the Property deemed necessary by Buyer (the “Tests”) provided that such Tests shall be conducted in a manner so as to not disturb or unreasonably interfere with the
current use of the Property. Upon completion of such Tests, Buyer agrees at its sole cost to restore the Property to substantially the condition it was in immediately prior to such Tests. Buyer shall indemnify, defend (with counsel reasonably
satisfactory to the Seller), protect, and hold the Seller harmless from and against any and all liability, loss, cost, damage, or expense (including, without limitation, reasonable, actual attorney’s fees and costs) which Seller may sustain or
incur by reason of or in connection with any Tests made by Buyer or Buyer’s agents or contractors relating to or in connection with the Property, or entries by Buyer or its agents or contractors onto the Property. Buyer shall maintain
comprehensive general liability insurance in an amount not less than Two Million Dollars ($2,000,000.00) per occurrence, which insurance shall name the Seller as an additional insured, and Buyer shall maintain such insurance through Closing.

  
 S-4

 ARTICLE 4 
 CLOSING; CLOSING ADJUSTMENTS AND COSTS; CONDITIONS 

Section 4.1. Time and Place. Subject to Section 4.6, Section 4.7 and Section 5.4, the consummation of the
transactions contemplated hereby (the “Closing”) shall be held at the offices of Buyer’s counsel on a date determined by Buyer, on the later of (a) one hundred twenty (120) days after the Effective Date or
(b) forty-five (45) days after the Lender gives its initial or conditional approval of Buyer’s assumption of the Existing Indebtedness (the “Closing Date”). At the Closing, the Seller and Buyer shall perform the
obligations set forth in, respectively, Section 4.2 and Section 4.3, the performance of which obligations shall be concurrent conditions. 
 Section 4.2. Seller’s Obligations at Closing. At or prior to Closing, the Seller shall execute (or cause the execution of) and deliver the following to Buyer (the “Seller’s
Closing Documents”): 
 (i) a duly executed special warranty deed conveying fee simple title to the Property (the
“Deed”) in the form attached hereto and made a part hereof as Exhibit B; 
 (ii) a duly executed bill
of sale with respect to the Personal Property located on the Property (the “Bill of Sale”) in the form attached hereto and made a part hereof as Exhibit C; 

(iii) a duly executed Assignment and Assumption of Leases (the “Assignment and Assumption of Leases”) in the form
attached hereto and made a part hereof as Exhibit D; 
 (iv) a duly executed Assignment and Assumption of Contracts (the
“Assignment and Assumption of Contracts”) in the form attached hereto and made a part hereof as Exhibit E; 
 (v) a duly executed Assignment and Assumption of Warranties and Guaranties (the “Assignment and Assumption of Warranties and Guaranties”) in the form attached hereto and made a part
hereof as Exhibit F; 
 (vi) a duly executed Assignment and Assumption of Licenses and Permits (the “Assignment
of Licenses and Permits”) in the form attached hereto and made a part hereof as Exhibit G; 
 (vii) notices
(the “Tenant Notices”) in the form attached hereto and made a part hereof as Exhibit H sent or to be sent by the Buyer to each tenant under each of the Leases on or after the Closing Date; 

(viii) a tenant estoppel certificate executed by the Tenant under each of the Leases (as defined below) in substantially the same form
attached hereto and made a part hereof as Exhibit J; 

  
 S-5

 (ix) the original Leases, Contracts, Warranties and documented or certificated Intangibles
(including, without limitation, all certificates of occupancy) relating to the Property, which shall be assigned by the Seller and assumed by Buyer hereunder, (to the extent originals are available and, if not, certified copies thereof), together
with such leasing and property files and records related to the Property. To the extent reasonably necessary, Buyer shall make the original Leases, Contracts, Warranties and documented or certificated Intangibles available to the Seller for a period
of twelve (12) months after the Closing Date for the Seller’s review and/or copying during the Buyer’s normal business hours; 
 (x) possession of the Property and keys to all locks on the Property; 
 (xi) a
certificate regarding Seller’s non-foreign status for purposes of Section 1445 of the Code in the form attached hereto and made a part hereof as Exhibit I duly executed by each Seller; 

(xii) a resolution (or other documentation) evidencing the authority of Seller to consummate the transactions contemplated herein and
the authority of the signatory to this Agreement and the Related Documents to enter into this Agreement and the Related Documents; 
 (xiii) such additional documents as Title Company shall reasonably require to consummate the transactions contemplated in this Agreement (including, but not limited to, organizational documents of the
Seller, a certificate of good standing of the Seller, a standard form owner’s affidavit, and a gap indemnity agreement but excluding any document required by the Title Company for the purpose of eliminating any Permitted Exception as an
exception to the title policy to be issued by the Title Company; 
 (xiv) a certificate, dated as of the Closing Date and duly
executed by the Seller, certifying: (i) that all of the representations and warranties of the Seller set forth in this Agreement, as modified pursuant to Section 5.4, are true and accurate in all material respects as of the Closing Date;
and (ii) the manner in which the information set forth in the various Schedules attached to this Agreement has changed as of the Closing Date, if applicable; and 
 (xv) such documents as may be reasonably required by the Lender in issuing its approval of Buyer’s assumption of the Existing Indebtedness. 

Section 4.3. Buyer’s Obligations at Closing. At the Closing, Buyer shall: 

(a) pay to the Seller the amount of the Base Cash Amount and the Adjusted Cash Amount in the manner set forth in Section 1.3, plus
any other fees, costs, expenses and amounts set forth as Buyer’s obligations in Section 4.4 and Section 4.5; 

(b) join Seller in the execution of the Assignment and Assumption of Leases; 

(c) join Seller in the execution of the Assignment and Assumption of Contracts; 

  
 S-6

 (d) join Seller in the execution of the Assignment and Assumption of Warranties and
Guaranties; 
 (e) join Seller in the execution of the Assignment of Licenses and Permits; 

(f) deliver to the Seller such evidence as the Title Company may reasonably require as to the authority of the person or persons
executing documents on behalf of Buyer; 
 (g) deliver certificates in the names of the Electing Members to the Seller
representing the OP Units; and 
 (h) deliver such additional documents as shall be reasonably required by the Title Company to
consummate the transaction contemplated by this Agreement. 
 (i) deliver such documents as may be reasonably required by the
Lender in issuing its approval of Buyer’s assumption of the Existing Indebtedness. 
 Section 4.4. Credits and
Prorations. The following adjustments to the Sale Price paid hereunder shall be made between the Seller and Buyer and shall be prorated (as applicable) on a per diem basis as of 12:01 a.m. on the Closing Date: 

(a) Rent. All rent (excluding tenant reimbursements for Operating Expenses (as defined in Section 4.4(b)) and other collected
income (and any applicable state or local tax on rent) under Leases in effect on the Closing Date shall be prorated as of the Closing. Buyer shall be credited with any rent and other income collected by Seller but applicable to any period of time
after Closing. Any rent received by Seller after the Closing with respect to time periods after the Closing shall be delivered to Buyer within three (3) days of Seller’s receipt thereof. After the Closing, Buyer shall apply rent and other
income from tenants that are collected after the Closing first to the obligations then owing to Buyer for its period of ownership and to those reasonable attorney fees incurred by Buyer in collecting said amount, remitting the balance, if any, to
the Seller if any amounts are still owed to such Seller by the tenant or tenants for the period of time prior to the Closing Date. 
 (b) Operating Expenses. The Seller, as landlord under the Leases, is currently collecting from tenants under the Leases additional rent to cover taxes, insurance, utilities (to the extent not paid
directly by tenants), common area maintenance and other operating costs and expenses (collectively, “Operating Expenses”) in connection with the ownership, operation, maintenance and management of the Real Property. The Seller and
Buyer shall each receive a debit or credit, as the case may be, for the difference between the tenants’ current account balances for Operating Expenses and amount of Operating Expenses reimbursable to the Seller. The parties shall reasonably
estimate Operating Expenses for the Seller’s period of ownership if final bills are not available. Those Operating Expenses being paid directly by tenant shall not be prorated. Operating Expenses that are not payable by tenants either directly
or reimbursable under the Leases shall be prorated between the Seller and Buyer on an accrual basis. 
 (c) Taxes and
Assessments. Real estate taxes and assessments imposed by governmental authority that are not yet due and payable and that are not reimbursable by tenants under the Leases as Operating Expenses shall be prorated as of the Closing based upon the
most 

  
 S-7

 
recent ascertainable assessed values and tax rates. The Seller shall receive a credit for any taxes and assessments paid by the Seller and applicable to any period after the Closing. All refunds
or tax savings relating to real estate taxes shall inure to the benefit of the Seller if such refunds or tax savings relate to any period for which the Seller owned the Property. Buyer shall have no obligation to pursue any such refunds or savings.
Buyer shall remit to the Seller any such refund or tax savings relating to such period immediately upon Buyer’s receipt, after deducting any amounts due to tenants under the Leases. Any additional taxes relating to the year of Closing or prior
years arising out of a change in the use of the Property by Buyer or the change in ownership contemplated by this Agreement shall be assumed by Buyer effective as of Closing and paid by Buyer when due and payable, and Buyer shall indemnify the
Seller from and against any and all such taxes, which indemnification obligation shall survive the Closing. 
 (d) Final
Adjustment After Closing. If final prorations cannot be made at Closing for any item being prorated under this Section 4.4, then Buyer and the Seller agree to allocate such items on an accrual basis as soon as the necessary invoices or
bills are available for purposes of a final computation of prorations and applicable reconciliation with tenants have been completed, with a final adjustment of prorations to be made no later than sixty (60) days after the Closing Date. Income
and expenses shall be received and paid by the parties on an accrual basis with respect to their period of ownership. Payments in connection with the final adjustment shall be due in cash within thirty (30) days of written notice of such final
adjustment amount. Each party shall have reasonable access to, and the right to inspect and audit the other party’s supporting documentation to confirm the final prorations; provided at least five (5) business days advance notice is given
by the auditing party to the audited party. To the extent that water consumption or other utility charges may constitute a lien against the Real Property, the Seller agrees that an appropriate amount with respect to accrued but unpaid charges for
water consumption or other utility charges may be held in escrow by the Title Company in connection with its issuance of a title insurance policy to Buyer. 
 (e) Leasing Commissions and Cost of Tenant Finish. Except as otherwise expressly set forth herein, any Tenant Inducement Costs (as hereafter defined) and Leasing Commissions (as hereafter defined)
(collectively, “Tenant Payment Obligations”) paid or incurred by Seller prior to the Effective Date shall remain the Seller’s obligation and shall be paid by Seller at or prior to Closing. Any Tenant Payment Obligations paid or
incurred by Seller after the Effective Date and prior to Closing shall be Buyer’s obligation, provided Buyer approved such corresponding leases to the extent required under Section 5.3(b) hereof. If any Tenant Payment Obligations for which
the Seller is responsible are not due and payable until after the Closing Date, then, at Closing, Buyer shall assume the Tenant Payment Obligations and receive a credit against the Sale Price in the amount of such Tenant Payment Obligations. For
purposes hereof the term “Tenant Inducement Costs” shall mean any out-of-pocket payments required under a lease to be paid by the landlord thereunder (including the cost of work to be performed by or on behalf of the landlord) to or
for the benefit of the tenant thereunder, which is in the nature of a tenant inducement or concession, including, without limitation, tenant improvement costs, and other work allowances, lease buyout costs, free rental periods, legal fees and
expenses and moving allowances; and the term “Leasing Commissions” shall mean any leasing commission payable to any third party broker or affiliate of Seller in connection with a lease for the existing term of any lease in effect on
the Effective Date. 

  
 S-8

 (f) Tenant Deposits. All tenant security deposits received by Seller or owing from
tenants under the Leases (and interest thereon if required by law or contract to be earned thereon) and not theretofore applied to tenant obligations under the Leases shall be transferred or credited to Buyer at Closing or placed in escrow if
required by law. As of the Closing, Buyer shall assume Seller’s obligations related to tenant security deposits. To the extent that any such tenant security deposit to be so transferred is in the form of a letter of credit and as such is not
transferable as of the Closing Date, the Seller and Buyer shall cooperate with each other and take all steps necessary prior to Closing (or, if necessary, as soon as possible immediately following Closing) to transfer such letter(s) of credit to
Buyer or to obtain replacement letter(s) of credit with respect thereto in favor of Buyer. Until any such letter of credit shall be transferred or replaced, the Seller shall hold the same for the benefit of Buyer and shall draw upon the same and
deliver the proceeds to Buyer or return the same to the applicable tenant, in each case upon Buyer’s written request provided that circumstances exist which authorize the landlord to draw upon the letter of credit under the applicable Lease.

 (g) Utilities; Utility Deposits. Buyer shall take all steps necessary to effectuate the transfer of all utilities
(other than those paid directly by tenants) to its name as of the Closing Date, and where necessary, post deposits with the utility companies. The Seller shall ensure that all utility meters (other than those paid directly by tenants) are read as of
the Closing Date. The Seller shall be entitled to recover any and all deposits held by any utility company as of the Closing Date. Any utility deposits not recovered by the Seller shall be transferred to and assumed by Buyer and the Seller shall
receive an equal credit for the same at Closing. To the extent that utility meters cannot be read as of the Closing Date, then a proration estimation shall be made based on the most recently available readings, with adjustments to be made after the
Closing in accordance with Section 4.4(d). 
 (h) Insurance. The fire, hazard, and other insurance policies relating
to the Property shall be cancelled by Seller as of the Closing Date and shall not, under any circumstances, be assigned to Buyer. All unearned premiums for fire and any additional hazard insurance premium or other insurance policy premiums with
respect to the Property shall be retained by Seller. 
 (i) Existing Indebtedness. Buyer shall receive a credit against
the Sale Price in an amount equal to the sum of the outstanding principal balance of the Existing Indebtedness as of the Closing Date plus any and all accrued, unpaid interest, late fees and other fees and charges payable at Closing in connection
with the Existing Indebtedness (excluding any “Lender’s Fees” as defined in Section 5.7 below) or otherwise arising in connection with the Existing Indebtedness; provided, however, that such credit shall be reduced by the amount
of any monetary escrows and/or reserves held by the Lender which are to be transferred to Buyer (and not released to the Seller) in connection with its assumption of the Existing Indebtedness. 

The provisions of this Section 4.4 shall survive Closing. 
 Section 4.5. Transaction Taxes and Closing Costs. 
 (a) The Seller
shall pay for the following fees, costs and expenses: 
 (i) the fees of any counsel representing the Seller in connection with
this transaction; 

  
 S-9

 (ii) the Virginia grantor’s tax; 

(iii) the cost or fee for the insurance or endorsement over any Title Objection cured by Seller by such insurance or endorsement
pursuant to Section 2.1(a) hereof; 
 (iv) one-half of any escrow charges incurred hereunder; and 

(v) all other closing costs incurred by Seller on Seller’s behalf in connection with this transaction. 

(b) Buyer shall pay the following fees, costs and expenses: 
 (i) the fees of any counsel representing Buyer in connection with this transaction; 
 (ii) the recordation tax; 
 (iii) the recording fees for the Deed; 

(iv) (A) the cost of the premium for an ALTA owner’s/lender’s title insurance policy for the Property and (B) any other
fees or premiums for extended coverage or any endorsements requested by Buyer (excluding, however, any cost or fee for the insurance or endorsement over any Title Objection cured by Seller by such insurance or endorsement pursuant to
Section 2.1(a)); 
 (v) all costs and expenses incurred in connection with the preparation of the Surveys requested by
Buyer; 
 (vi) one-half of any escrow charges incurred hereunder; and 

(vii) all other closing costs incurred by Buyer on Buyer’s behalf in connection with this transaction. 

(viii) all assumption or other fees charged by the Lender in connection with Buyer’s assumption of the Existing Indebtedness.

 Section 4.6. Conditions Precedent to Obligation of Buyer. The obligation of Buyer to consummate the transaction
hereunder shall be subject to the fulfillment on or before the Closing Date of all of the conditions set forth in this Section 4.6, any or all of which may be waived by Buyer, in writing, in its sole discretion. In the event any of the
conditions set forth in this Section 4.6 are not satisfied on or before Closing and Buyer does not waive such condition, as provided in the previous sentence, then this Agreement shall terminate and no party shall have any further obligations
to the other parties. In the event that the failure of a condition is due to a default by Seller, then the provisions of Section 6.2 shall apply. 

  
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 (a) The Seller shall have delivered to Buyer all of the items required to be delivered to
Buyer pursuant to the terms of this Agreement, including but not limited to, those provided for in Section 4.2; 
 (b) The
representations and warranties of the Seller contained in this Agreement (as the same may be modified from time to time as set forth in Section 5.4) shall have been true and correct in all material respects as of the Effective Date and shall be
true and correct in all material respects as of the Closing Date; 
 (c) The Seller shall have performed and observed, in all
material respects, all covenants and agreements of this Agreement to be performed and observed by the Seller as of the Closing Date; 
 (d) Title to the Property shall be in a condition as contemplated by Sections 2.3, 2.4 and 5.1(e) hereof; 
 (e) The physical condition of the Real Property shall be substantially the same on the Closing Date as on the Effective Date, except for changes thereto which result from or are attributable to:
(i) reasonable or normal wear and tear, (ii) the exercise by Seller or Buyer of any of their respective rights or obligations under this Agreement, (iii) any acts done, suffered or caused by Buyer or any affiliate, contractor,
officer, director, member, manager, employee, agent, representative, successor or assign thereof, (iv) any matter covered or addressed under Article 7, (v) any work, remodeling, alterations, improvements or repairs which is/are required to
be done or furnished pursuant to the terms of any Lease and/or which is/are done in response to or as a result of an emergency situation with respect to the Property, (vi) any work required to be done under or pursuant to, or in any way related
or incidental, to any Contract, and/or (vii) any work, remodeling, alterations, improvements or repairs to which Buyer has consented in writing, which consent may not be unreasonably withheld or delayed; and 

(f) Buyer’s general partner, Wheeler Real Estate Investment Trust, Inc., shall have successfully obtained adequate financing.

 Section 4.7. Conditions Precedent to Obligation of the Seller. The obligation of the Seller to consummate the
transaction hereunder shall be subject to the fulfillment on or before the Closing Date of all of the following conditions, any or all of which may be waived by Seller in its sole discretion: 

(a) The Seller shall have received the Sale Price as adjusted as provided herein; 

(b) Buyer shall have delivered to the Seller all of the items required to be delivered to the Seller pursuant to the terms of this
Agreement, including but not limited to, those provided for in Section 4.3; 
 (c) All of the representations and
warranties of Buyer contained in this Agreement shall have been true and correct in all material respects as of the Effective Date and shall be true and correct as of the Closing Date; and 

  
 S-11

 (d) Buyer shall have performed and observed, in all material respects, all covenants and
agreements of this Agreement to be performed and observed by Buyer as of the Closing Date. 
 ARTICLE 5 

REPRESENTATIONS, WARRANTIES AND COVENANTS 
 Section 5.1. Representations and Warranties of Seller and Guarantor. Seller hereby makes the following representations and warranties to Buyer as of the Effective Date, each of which
representations and warranties is subject to the exceptions thereto (if any) set forth on Schedule 2 attached hereto and made a part hereof (as the same may be revised and/or updated from time to time pursuant to Section 5.4 the
“Seller’s Disclosure Schedule”), and the other terms and provisions of this Agreement: 
 (a)
Organization and Authority. Seller has been duly organized and is in good standing under the laws of the state of its formation and the state in which the Real Property is located. Seller has the full right and authority to enter into this
Agreement and to transfer all of the Property and to consummate or cause to be consummated the transactions contemplated by this Agreement. The persons signing this Agreement on behalf of Seller are authorized to do so. 

(b) Noncontravention. Neither the entry into nor the performance of, or compliance with, this Agreement by Seller has resulted, or
will result, in any violation of, or default under, or result in the acceleration of, any obligation under any existing organizational documents or agreements, mortgage, indenture, lien agreement, note, contract, permit, judgment, decree, order,
restrictive covenant, statute, rule, or regulation applicable to the Seller (excluding the Loan Documents). 
 (c) Agreement
Binding. This Agreement constitutes a legal, valid and binding obligation of Seller enforceable against Seller in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or
other laws affecting creditors’ rights and by general principles of equity (whether applied in a proceeding at law or in equity). All Related Documents executed by the Seller at the Closing will be duly authorized, executed, and delivered by
the Seller, are or at the Closing will be legal, valid, and binding obligations of the Seller, are sufficient to convey title, and do not violate any provisions of any agreement to which Seller is a party or to which it is subject (excluding the
Loan Documents). The term “Related Documents” shall mean any document or instrument executed and/or delivered by Seller or Buyer in connection with or pursuant to the Closing of the transaction contemplated by this Agreement including,
without limitation, the Deed, Bill of Sale, Assignment and Assumption of Leases, Assignment and Assumption of Contracts, Assignment and Assumption of Guaranties and Warranties, Assignment and Assumption of Licenses and Permits and the FIRPTA
Certificate. 
 (d) Consents. Each consent, approval, authorization, order, license, certificate, permit, registration,
designation, or filing by or with any governmental agency or body necessary for the execution, delivery, and performance of this Agreement or the transactions contemplated hereby by the Seller have been obtained or will be obtained on or before the
Closing Date. 

  
 S-12

 (e) Ownership. Seller represents and warrants to Buyer (i) that no
understanding, agreement (either express or implied), or reasonable expectancy of agreement with respect to the sale, lease or other transfer of the Property exists between Seller and any third party other than those leases provided to Buyer
pursuant to Section 3.1 hereof, and (ii) that each Seller is in no way restricted from negotiating and entering into an agreement with Buyer and selling the Property to Buyer. 

(f) Leases. There are no Leases at the Real Property other than those described on Schedule 2 attached hereto. The Seller
has heretofore delivered to Buyer true and complete copies of all of the material documents which comprise the Leases (and any material amendments thereto). There are no other understandings, oral or written, between Seller or any of the tenants
with respect to the Leases. Seller is not aware of any default under any of the Leases and has not received nor delivered a written notice declaring a default by landlord or tenant under any of the Leases (which has not otherwise been cured). There
are no agreements with respect to any leased space allowing the tenant any concession, reduction or abatement of rent, or allowing the payment of any rent other than in cash except as set forth in the Leases; the security deposits thereunder have
not been pledged or assigned by the landlord to any third party other than in connection with indebtedness to be paid off at Closing or assumed by Buyer; no rentals or other payments for periods in excess of one month have been received under any
lease except as reflected on the rent roll delivered to Buyer; and there are no tenant leases or any other document or instrument which give any tenant the right to purchase the Property or any part thereof. 

(g) Tenant Inducement Costs and Leasing Commissions. Except as set forth on Schedule 2 of the Disclosure Schedule, Seller
is not obligated to pay any Tenant Payment Obligations with respect to any of the Leases. 
 (h) Contracts. Seller has
heretofore delivered to Buyer true and complete copies of all of the material documents which comprise the Contracts (and any material amendments thereto). There are no other understandings, oral or written, between Seller and any of the other
parties to the Contracts with respect to the Contracts. Seller is not aware of any default under any of the Contracts and has not received nor delivered a written notice declaring a default under any of the Contracts (which has not otherwise been
cured). 
 (i) Oral Agreements. No oral agreement has been entered into with any person or entity relating to or
connected with the ownership, construction, use, operation, maintenance or condition of the Property which would be binding upon Buyer at or subsequent to the Closing. 
 (j) Environmental. To the best of the Seller’s actual knowledge, information and belief, (i) the Real Property is not presently being used, or has ever been used, for the storage or
disposal of any hazardous or toxic waste or as a dump site for hazardous or toxic waste, (ii) the Real Property has not been affected by the presence of, and there is not present, oil, hazardous waste, toxic substances or other pollutants or
materials that could be a detriment to the Real Property or in violation of any local, state or federal law or regulation, (iii) there is no soil condition adversely affecting the Real Property and the Real Property is not in an area identified
by any agency or department of the federal, state or local government as containing endangered 

  
 S-13

 
species, (iv) there are no state of facts which could cause any portion of the Real Property to be designated as containing any endangered species, and (v) there are no underground
storage tanks on or under the Real Property, nor have underground storage tanks been removed from the Real Property. 
 (k)
No Pending Actions. Seller has not received any written notice of: (i) any pending (and to Seller’s knowledge there is no threatened) action, suit, arbitration, unsatisfied order or judgment relating to the Real Property; or
(ii) any government investigation or proceeding pending against Seller or the Real Property; or (iii) any pending (or to Seller’s knowledge, threatened) condemnation, taking or eminent domain proceedings against the Real Property.

 (l) Certificates of Occupancy and Use. To Seller’s knowledge, all required certificates of occupancy for the Real
Property or any portion thereof have been issued and are in full force and effect. To Seller’s knowledge, the use being made of the Real Property complies with all such certificates of occupancy. 

(m) No Violations. Seller has not received written notice of any material violations of any laws enacted by any federal, state,
local or other governmental agency or regulatory body with respect to the Real Property which remain uncured and could materially and adversely affect the use and operation or the value of the Real Property or materially and adversely interfere with
the consummation of the transaction contemplated by this Agreement. 
 (n) Insurance. Seller has not received any written
notice from any insurance company which has issued a policy with respect to the Property requesting performance of any structural or other major repairs or alterations to any of the Property which has not been complied with. Seller has not received
from any insurance company presently insuring the Property any notice of cancellation of any policy or of a material increase in the current premium of any policy. The Seller agrees to keep present coverages in full force and effect, and to pay the
premiums thereon, until the date of Closing. 
 (o) Bankruptcy. Seller has not made a general assignment for the benefit
of creditors, filed any voluntary petition in bankruptcy or suffered the filing of an involuntary petition by its creditors, suffered the appointment of a receiver to take possession of substantially all of its assets, suffered the attachment or
other judicial seizure of substantially all of its assets, admitted its inability to pay its debts as they come due, or made an offer of settlement, extension or composition to its creditors generally. 

(p) Commitments. The Seller has not made, and prior to Closing hereunder shall not make, any commitments to any government
authority or agency, utility company, or to any other organization, group or person relating to the Real Property that would impose on Buyer or the Real Property (or any future owner thereof) the obligation to make on or after the Closing any
contributions of money, dedication of land or grants of easements, rights-of-way or other things, or to construct, install or maintain any improvements, public or private, on or off the Real Property. 

  
 S-14

 (q) No Termination of Utilities. Seller has not received any written notice of the
termination or impairment of the furnishing of services to the Property or any component thereof of water, sewer, gas (if any), electric, telephone, drainage and other such utility services. 

(r) Employees. The Seller has not entered into any management contracts, employment contracts or labor union contracts and has not
established any retirement, health insurance, vacation, pension, profit sharing or other benefit plans relating to the operation or maintenance of the Real Property (or any component thereof) for which Buyer shall have any liability or obligation.
Neither Seller nor any of its management agents has any employees at the Property (or any component thereof), other than at-will employees who shall remain the responsibility of Seller or its management agent and as to whom Buyer shall have no
liability or obligation whatsoever. As of the Closing Date, there shall be no employees working at the Property (or any component thereof). Seller shall have paid or caused to be paid to all employees of such Seller or its management agent all
salary and any other payments which shall be payable on account of each such employee for such period through Closing Date. 

(s) Non-Foreign Status. No Seller is a “foreign person” as defined in the Federal Foreign Investment in Real Property
Tax Act of 1980. 
 (t) Tax Matters. All Returns required to be filed by or on behalf of the Seller on or before the
Closing Date with respect to the Property have been duly filed on a timely basis, (ii) such Returns are true, complete and correct in all material respects, (iii) all Taxes which were shown to be due on such Returns or on subsequent
assessments with respect thereto have been paid in full on a timely basis, and (iv) no other Taxes are payable by the Seller with respect to items or periods covered by such Returns (whether or not shown on or reportable on such Returns) or
with respect to any period prior to the Closing Date. There are no liens for Taxes (other than for Taxes not yet due and payable) upon the Property. None of the Property consists of securities, stock (including warrants or stock rights) or debt
instruments issued by any person. None of the Leases provides for rent payments that are based on profits or net income of the tenant thereunder of any other person. None of the Leases provides for the rental of personal property that represents
more than 15% of the value of the total real property and personal property leased to such tenant under such Lease. For purposes hereof, (i) “Returns” shall mean all reports, estimates, declarations of estimated tax, information
statements and returns relating to, or required to be filed in connection with, any Taxes, including information returns or reports with respect to backup withholding and other payments to third parties; and (ii) “Taxes” shall mean
“Taxes” shall mean all taxes and other governmental fees, charges or assessments, however denominated, whether due and payable or not yet due and payable, including any interest, penalties or other additions to tax, whether due and
payable or not yet due and payable in respect thereof, imposed by any governmental entity. 
 (u) Completeness and
Accuracy. To the Seller’s knowledge, the documents delivered by the Seller to Buyer pursuant to Section 3.1 are (i) the material documents in the possession of the Seller or their respective representatives and agents relating to
the Property and used by the Seller in its operation of the Property and (ii) are true, accurate and complete. 
 (v)
Existing Indebtedness. All of the documents or agreements relating to the Existing Indebtedness (i.e., the “Loan Documents,” and the funds disbursed thereunder, the 

  
 S-15

 
“Loan”), have been delivered by Seller to Buyer. There are no amendments or modifications (written, oral, by course of conduct or otherwise) to the Loan Documents other than as
delivered to Buyer. 
 The Loan was originated by CICB Inc. The current holder of the Existing Indebtedness is referred to
herein as the “Lender”. The original principal amount of the Loan to the Seller under the Loan Documents was $18,000,000. The current amount of principal outstanding under the Loan Documents as of the Effective Date is
$16,652,972.48. All payments required to be made under the Loan Documents to date have been made and will be made as of the Closing Date. There are no other fees, expenses or other amounts due to the Lender as of the date hereof (other than transfer
or assumption fees which may be imposed after the date of execution of this Agreement in connection with the transfer of the Existing Indebtedness to Buyer and which shall be payable by Buyer in accordance with Section 4.5(b) hereof).

 Neither the Seller nor, to the best of Seller’s knowledge, the Lender is in default under the Loan Documents. There are
no other obligations of Seller to the Lender except as set forth in writing in the Loan Documents. No controversy, claim, dispute or disagreement exists between the parties to the Loan Documents. No event has occurred which, with the giving of
notice or the passage of time, or both, would constitute a default under any of the Loan Documents which has not been cured. The Loan Documents are in full force and effect. 
 The Loan Documents shall not be further extended, modified or amended prior to Closing. There is no pending or, to Seller’s knowledge, threatened, litigation, proceeding or investigation relating to
the Loan Documents. 
 Section 5.2. Covenants of Seller. The Seller hereby covenants with Buyer as follows:

 (a) From the Effective Date hereof until the Closing or earlier termination of this Agreement, the Seller shall use
commercially reasonable best efforts to operate and maintain the Property in a manner generally consistent with the manner in which Seller has operated and maintained the Property prior to the date hereof; 

(b) Except as provided below, a copy of any amendment, renewal or expansion of any existing Lease or any new lease (collectively, the
“New Leases” and individually “New Lease”) which Seller wishes to execute between the Effective Date and the Closing Date will be submitted to Buyer. Buyer shall have the right to approve (in its sole and absolute
discretion) any such New Lease which Seller desires to enter into between the Approval Date and the Closing Date. With respect to any such New Lease which Buyer has the right to approve, Buyer shall notify the Seller in writing within five
(5) business days (“New Lease Approval Period”) after its receipt thereof (and any additional information reasonably requested by Buyer from Seller relating to any of the New Leases) of either its approval or disapproval
thereof. In the event Buyer notifies Seller in writing within the New Lease Approval Period that Buyer does not approve any such New Lease, then Seller shall not enter into such New Lease. In the event Buyer fails to notify Seller in writing of its
approval or disapproval within the New Lease Approval Period, Buyer shall be deemed to have approved any such New Lease. At Closing, unless otherwise provided herein, all Tenant Payment Obligations related to the New Leases (collectively, the
“New Lease Costs”) shall be (A) reimbursed to the Seller by Buyer to 

  
 S-16

 
the extent such New Lease Costs are incurred and paid by Seller, and (B) assumed by Buyer in writing to the extent the Seller’s obligations for such New Lease Costs have not been
satisfied. At Closing, all unpaid Tenant Payment Obligations incurred in connection with the Leases (other than the New Lease Costs) which have accrued prior to Closing shall be handled in accordance with the terms of Section 4.4(e) hereof.
Notwithstanding the foregoing, nothing contained in this paragraph or elsewhere in this Agreement shall prohibit Seller from doing any of the following: (i) entering into month-to-month leases with existing tenants of the Property, or
(ii) complying with any of the obligations of the landlord under the Leases. 
 (c) Except as provided below, a copy of any
amendment or renewal of any Contract or any new Contract (collectively, the New Contracts” and individually “New Contract”) which Seller wishes to execute between the Effective Date and the Closing Date will be submitted
to Buyer. Buyer shall have the right to approve any such New Contract which such Seller desires to enter into between the Approval Date and the Closing Date. With respect to any such New Contract which Buyer has the right to approve, Buyer shall
notify the Seller in writing within five (5) business days (“New Contract Approval Period”) after its receipt thereof (and any additional information reasonably requested by Buyer from Seller relating to any of the New
Contracts) of either its approval or disapproval thereof. In the event Buyer notifies Seller in writing within the New Contract Approval Period that Buyer does not approve any such New Contract, then Seller shall not enter into such New Contract. In
the event Buyer fails to notify Seller in writing of its approval or disapproval within the New Contract Approval Period, Buyer shall be deemed not to have approved any such New Contract. Notwithstanding the foregoing, nothing contained in this
Section 5.2(c) or elsewhere this Agreement shall prohibit Seller from entering into any Contract which either expires on or before the Closing Date or is terminable upon no more than thirty (30) days written notice from Seller to the other
party to such Contract. 
 (d) From the Effective Date hereof until the Closing Date or earlier termination of this Agreement,
the Seller shall not modify or change the zoning classifications of the Real Property without Buyer’s consent, which consent shall not be unreasonably withheld or delayed. 

(e) From the Effective Date hereof until the Closing Date or earlier termination of this Agreement, the Seller shall use commercially
reasonable best efforts to obtain a tenant estoppel certificate from each of the tenants under the Leases in substantially the same form attached hereto and made a part hereof as Exhibit J. 

Section 5.3. Survival of Seller’s Representations and Warranties. The Seller agrees to indemnify, defend and hold Buyer
harmless against all losses, damages, suits, actions obligations, expenses, reasonable attorney’s fees, costs claims or liabilities (collectively, the “Claims”) (i) arising out of a breach of any representation or warranty of the
Seller contained in this Agreement and (ii) for any Claims relating to the Property that arise prior to Closing. Buyer’s sole remedies with respect to the breach of any representation or warranty contained in this Agreement discovered by
or disclosed to Buyer prior to Closing shall be those specified in Section 6.1. The Seller’s indemnity obligation relating to a breach of any representation or warranty under this Agreement shall survive for a period of twelve
(12) months from the Closing Date (the “Indemnification Period”); provided, however, that (i) in no event shall the Seller be liable for any claim or claims made by Buyer for a breach of any representation or warranty under this
Agreement unless the aggregate thereof is equal to or greater than $25,000.00 (the “Floor”), and (ii) the Seller’s liability for such claims shall not exceed $500,000.00 (the “Cap”). 

  
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 Section 5.4. Changed Circumstances. The Seller shall have the right to revise
the Seller Disclosure Schedule from time to time prior to the Closing Date to reflect any changes that occur after the Effective Date (collectively, “Changed Circumstances”) by delivering a revised Seller Disclosure Schedule to
Buyer at any time prior to Closing; provided, that Seller shall not have the right to revise the Seller Disclosure Schedule to reflect or incorporate any Changed Circumstances which Seller causes by willfully and intentionally breaching its
representations, warranties or covenants under this Agreement. Buyer shall have the right to review the revised Seller Disclosure Schedule for a period of seven (7) business days after its receipt thereof (and of such additional reasonable
information which is necessary to evaluate the matters added to the Seller Disclosure Schedule, provided that Buyer has requested such additional information no later than five (5) business days after its receipt of the revised Seller
Disclosure Schedule). If the Seller delivers a revised Seller Disclosure Schedule on a day that is less than seven (7) business days prior to the Closing Date, the Closing Date shall be extended for an additional number of days sufficient to
allow Buyer to utilize the full seven (7) business day-period allotted above. If both (i) prior to the expiration of such seven (7) business day period, Buyer delivers notice (“Changed Circumstance Objection Notice”)
to the Seller that Buyer objects to the Changed Circumstance(s) set forth in the revised Seller Disclosure Schedule, and (ii) such Changed Circumstance(s) would result in a material adverse effect on Buyer’s proposed use and operation of
the Property, as determined in Buyer’s sole discretion, then Buyer shall, as its sole and exclusive remedy, have the right to terminate this Agreement, in which event this Agreement shall terminate and no party hereto shall thereafter have any
further rights against, or obligations or liabilities to, the other by reason of this Agreement. In the event that Buyer fails for any reason to deliver a Changed Circumstance Objection Notice within such seven (7) business day period, or such
Changed Circumstance(s) do not result in a material adverse effect on Buyer’s proposed use and operation of the Property, as determined in Buyer’s sole discretion, then the Buyer shall conclusively be deemed to have accepted such Changed
Circumstance(s), such Changed Circumstance shall be deemed to constitute part of the Seller Disclosure Schedule, and Schedule 6 attached hereto shall be deemed to have been revised to include and incorporate such Changed Circumstance(s).

 Section 5.5. Representations, Warranties and Covenants of Buyer. Buyer hereby makes the following representations
and warranties to Seller as of the Effective Date and as of the Closing Date: 
 (a) Organization and Authority of Buyer.
Buyer has been duly organized and is in good standing under the laws of the State of Virginia. Buyer has the full right and authority to enter into this Agreement, to purchase all of the Property and to consummate or cause to be consummated the
transaction contemplated by this Agreement. This Agreement and all Related Documents executed by Buyer at the Closing will be duly authorized, executed, and delivered by Buyer, are, or at the Closing will be legal, valid, and binding obligations of
Buyer, and do not violate any provisions of any agreement to which Buyer is a party or to which it is subject. 
 (b)
Agreement Binding. This Agreement constitutes a legal, valid and binding obligation of Buyer enforceable against Buyer in accordance with the terms hereof, 

  
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except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights and by general principles of equity (whether
applied in a proceeding at law or in equity). 
 (c) Pending Actions. To Buyer’s knowledge, there is no action,
suit, arbitration, unsatisfied order or judgment, government investigation or proceeding pending against Buyer which, if adversely determined, could individually or in the aggregate materially interfere with the consummation of the transaction
contemplated by this Agreement. 
 Section 5.6. Survival of Buyer’s Representations, Warranties and Covenants.
The covenants of Buyer set forth in Section 5.5 shall survive any Closing hereunder. 
 Section 5.7. Assumption of
Existing Indebtedness. Commencing on the Effective Date, Buyer and Seller shall work actively and in good faith with the holders of the Existing Indebtedness, or the loan servicer, to ensure that the Buyer will be able to timely and
satisfactorily assume the Existing Indebtedness at Closing. Buyer shall be responsible for the payment of all assumption and transfer fees (including attorney’s fees of holder’s counsel) which may be imposed by the holder of the Existing
Indebtedness as a condition of approving the assumption thereof (the “Lender’s Fees”). In the event that Lender has not given its initial or conditional approval of Buyer’s assumption of the Existing Indebtedness on or
before one hundred eighty (180) days after the Effective Date, Buyer and Seller shall each have the independent right to terminate this Agreement by written notice to the other given at any time prior to the issuance of such approval by the
Lender. 
 ARTICLE 6 
 DEFAULT 
 Section 6.1. Default by Buyer. In the event of
any default by Buyer under this Agreement that is not cured within five (5) days after Buyer’s receipt of notice thereof (but in no event later than the Closing Date), the Seller shall be entitled, as its sole and exclusive remedy, to
terminate this Agreement and receive the reimbursement from the Buyer for all of Seller’s documented out-of-pocket expenses incurred by Seller in connection with this Agreement and its contribution of the Property not to exceed, in the
aggregate, the sum of $75,000.00, which receipt shall operate to terminate this Agreement and release the Buyer from any and all liability hereunder except for the indemnification obligations set forth in Section 3.4 hereof and any unpaid
Lender’s Fees. 
 Section 6.2. Default by Seller. In the event of any default by Seller under this Agreement
that is not cured within five (5) days after Seller’s receipt of notice thereof (but in no event later than the Closing Date), Buyer shall be entitled, as its sole and exclusive remedy, to either (i) receive the reimbursement from the
Seller for all of Buyer’s documented out-of-pocket expenses incurred by Buyer in connection with this Agreement and its purchase of the Property (including without limitation, Lender’s Fees) not to exceed, in the aggregate, the sum of
$75,000.00, which receipt shall operate to terminate this Agreement and release the Seller from any and all liability hereunder, or (ii) enforce specific performance. 

  
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 ARTICLE 7 
 RISK OF LOSS 
 Section 7.1. Casualty. Subject to the
provisions of this Section 7.1, Seller shall bear the risk of any damage to the Property between the Effective Date and the Closing Date. From the Effective Date to the Closing Date, Seller shall keep and maintain all insurance policies
necessary for the operation of the Property. If the Property is damaged by fire, storm, flood, or any other casualty between the Effective Date and Closing Date, the Seller and Buyer shall obtain an estimate of the cost of repairing the damage from
an established contractor selected by the Seller and reasonably approved by Buyer. 
 (a) If the estimated cost to repair such
damage is less than $250,000, then the Closing shall be held in accordance with the terms of this Agreement and the Seller shall assign its rights to any and all insurance proceeds to Buyer or, if the insurance proceeds have been received by Seller,
credit the Sale Price the amount of such proceeds. If the estimated cost to repair such damage is equal to or more than $250,000, then either Buyer or the Seller may elect to terminate this Agreement upon written notice to the other given within
five (5) business days after receipt of notice of the estimated cost of repair. If this Agreement is terminated by Buyer or Seller within such five (5) business day period, neither Seller nor Buyer shall have any further rights, claims or
obligations against one another arising out of this Agreement except those arising under Section 3.4. If this Agreement is not so terminated, then the Closing shall be held in accordance with the terms of this Agreement and the Seller shall
assign its right to all insurance proceeds to Buyer or repair the damage at Seller’s sole cost and expense. 
 (b) All
repairs to be performed by Seller pursuant to this Section 7.1 shall be done in a good and workmanlike manner consistent with the original construction of the Property. 
 Section 7.2. Condemnation. 
 (a) If prior to the Closing any part of
the Property is condemned or taken pursuant to any governmental or other power of eminent domain, or if written notice of taking or condemnation is issued with respect to any portion of the Property, or if proceedings are instituted or threatened in
writing to be instituted by any governmental or other authority having the power of eminent domain with respect to any portion of the Property (any such event, a “Taking”), the Seller shall immediately notify Buyer as soon as Seller
receives written notice of any such Taking. If the Taking is of all of the Real Property, or of a portion of the Real Property which would materially and adversely affect the Property or the use or value thereof or access thereto, then either the
Seller or Buyer shall have the right, to be exercised within five (5) business days after receiving such notification, to terminate this Agreement effective upon written notice to the other party. 

(b) If this Agreement is terminated within such five (5) business day period, neither Seller nor Buyer shall have any further
rights, claims or obligations against one another arising out of this Agreement. 

  
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 (c) If neither Seller nor Buyer has right to terminate or, if they have such right, they do
not elect to terminate within the five (5) business day period, then Buyer shall accept the Property net of the portion taken by the Taking. In such event, if the condemnation award in respect of the Taking is paid to Seller prior to the
Closing, the Purchase Price shall be reduced by an amount equal to the proceeds of the award received by, or on behalf of, Seller. If the award has not been paid to the Seller as of the Closing Date, then the Seller shall assign to Buyer, without
recourse, at the Closing, by documents reasonably satisfactory to Buyer, all rights of Seller to the award, in which case there shall be no adjustment in the Purchase Price. 
 ARTICLE 8 
 COMMISSIONS 

Section 8.1. Brokerage Commissions. With respect to the transaction contemplated by this Agreement, Seller and Buyer each
represent to the other that no broker, licensed or otherwise brought about this transaction. Each party hereto agrees that if any other person or entity makes a claim for brokerage commissions or finders fees related to the sale of the Property by
Seller to Buyer, and such claim is made by, through or on account of any acts or alleged acts of said party or its representatives, said party will protect, indemnify, defend and hold the other party free and harmless from and against any and all
loss, liability, cost, damage and expense (including reasonable attorneys’ fees) in connection therewith. The provisions of this Section 8.1 shall survive the Closing or any termination of this Agreement. 

ARTICLE 9 

MISCELLANEOUS 
 Section 9.1. Assignment. Subject to the provisions of this Section 9.1, the terms and provisions of this Agreement are to apply to and bind the permitted successors and assigns of the
parties hereto. Buyer may not assign its rights under this Agreement without first obtaining Seller’s written approval, which approval may not be unreasonably withheld, conditioned or delayed if such transfer is to a wholly-owned affiliate
entity; provided, however, the Buyer shall have the right to assign this Agreement to a wholly-owned subsidiary of Buyer without the prior written consent of Seller. An assignment by Buyer of its rights under this Agreement shall not relieve Buyer
of any liability hereunder nor shall it relieve the assignee of the obligation to deliver the OP Units to the Electing Members at Closing. 
 Section 9.2. Notices. Any notice pursuant to this Agreement shall be given in writing by (a) personal delivery, (b) reputable overnight delivery service with proof of delivery, or
(c) legible facsimile transmission, sent to the intended addressee at the address set forth below, or to such other address or to the attention of such other person as the addressee shall have designated by written notice sent in accordance
herewith, and shall be deemed to have been given upon receipt or refusal to accept delivery, or, in the case of facsimile transmission, as of the date of the facsimile transmission (if such is received by 5:00 p.m. local time of the recipient)
provided that an original of such facsimile is also sent to the intended addressee by means described in clauses (a), or (b) above. Unless changed in accordance with the preceding sentence, the addresses for notices given pursuant to this
Agreement shall be as follows: 
  

			
	If to Seller:	  	If to Buyer:
		
	Riversedge North	  	Riversedge North
	2529 Virginia Beach Boulevard	  	2529 Virginia Beach Boulevard
	Virginia Beach, VA 23452	  	Virginia Beach, VA 23452

  
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 Section 9.3. Modifications. This Agreement cannot be changed orally, and no
executory agreement shall be effective to waive, change, modify or discharge it in whole or in part unless such executory agreement is in writing and is signed by the parties against whom enforcement of any waiver, change, modification or discharge
is sought. 
 Section 9.4. Entire Agreement. This Agreement, including the exhibits and schedules hereto, contains
the entire agreement between the parties hereto pertaining to the subject matter hereof and fully supersedes all prior written or oral agreements and understandings between the parties pertaining to such subject matter. 

Section 9.5. Further Assurances. Each party agrees that it will execute and deliver such other documents and take such other
action, whether prior or subsequent to the Closing, as may be reasonably requested by the other party to consummate the transaction contemplated by this Agreement. 
 Section 9.6. Counterparts. This Agreement may be executed in counterparts, all such executed counterparts shall constitute the same agreement, and the signature of any party to any counterpart
shall be deemed a signature to, and may be appended to, any other counterpart. 
 Section 9.7. Severability. If any
provision of this Agreement is determined by a court of competent jurisdiction to be invalid or unenforceable, the remainder of this Agreement shall nonetheless remain in full force and effect; provided that the invalidity or unenforceability of
such provision does not materially adversely affect the benefits accruing to any party hereunder. 
 Section 9.8.
Applicable Law. This Agreement and the Related Documents shall be governed by and construed in accordance with the internal laws of the Commonwealth of Virginia without regard to conflicts of law principles. The parties hereto agree that the
provisions of this Section 9.8 shall survive the Closing or any termination of this Agreement. 
 Section 9.9. No
Third-Party Beneficiary. The provisions of this Agreement and of the documents to be executed and delivered on the Closing Date are and will be for the benefit of the Seller and Buyer only and, subject to the provisions of Section 9.1, are
not for the benefit of any third party, and accordingly, no third party shall have the right to enforce the provisions of this Agreement or of the documents to be executed and delivered on the Closing Date. 

Section 9.10. Captions. The section headings appearing in this Agreement are for convenience of reference only and are not
intended, to any extent and for any purpose, to limit or define the text of any section or any subsection hereof. 

Section 9.11. Construction. The parties acknowledge that the parties and their counsel have reviewed and revised this
Agreement and that any normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Agreement or any exhibits or amendments hereto. 

  
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 Section 9.12. Internal Revenue Service Reporting Requirement. Each party shall
execute, acknowledge and deliver to the other party such instruments, and take such other actions, as such other party may reasonably request in order to comply with Section 6045(e) of the Internal Revenue Code of 1986, as amended, or any
successor provision or any regulations promulgated pursuant thereto (the “Code”), insofar as the same requires reporting of information in respect of real estate transactions. The provisions of this Section 9.12 shall survive the
delivery of the deed hereunder. 
 Section 9.13. Confidentiality. Each party agrees that, except as otherwise set
forth in this Agreement or required by law or legal process, it shall: (i) keep the contents of this Agreement and any information related to the transaction contemplated hereby confidential (except that Buyer and the Seller may disclose such
data and information to their respective employees, lenders, consultants, accountants and attorneys, provided that such persons agree to treat such data and information confidentially); and (ii) refrain from generating or participating in any
publicity statement, press release or other public notice regarding this transaction without the prior written consent of the other party unless required under applicable law or by legal process; provided, however, that Buyer and the Seller may at
or following the Closing publicly announce the sale of the Property and the identity of the new owner thereof. The provisions of this Section 9.14 shall survive the Closing. 

Section 9.14. Disclosure of Information. The Seller acknowledges that the general partner of Buyer is a publicly traded real
estate investment trust. The Seller acknowledges that the rules and regulations promulgated by the United States Securities and Exchange Commission (the “SEC”) may require Buyer to disclose certain basic information concerning this
Agreement and the transactions contemplated herein in documents to be filed with the SEC. The parties agree that Buyer shall be permitted to make such disclosures and that such disclosures shall not constitute a breach or a violation of
Section 9.14 or any other confidentiality or non-disclosure agreement executed by the parties prior to the Effective Date. Such confidentiality or non-disclosure agreement, if any, shall be amended and modified to the extent provided in this
Section. 
 Section 9.16. Joint and Several Liability. The liability of Seller hereunder shall be joint and several
hereunder. Unless otherwise expressly set forth herein, all actions to be taken by Seller and all documents to be executed by Seller shall be done so by each Seller. 

  
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 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the
Effective Date. 
  

																	
	SELLER:	 		 	BUYER:	 	
			
	BROOK RUN ASSOCIATES, LLC, a Virginia limited liability company	 		 	WHEELER REIT, L.P., a Virginia limited partnership, Managing Member
					
	By:	 	BRA MANAGEMENT, LLC, a Virginia limited liability company, its Managing Member	 		 	By:	 	WHEELER REAL ESTATE INVESTMENT TRUST, INC., a Maryland corporation, general partner
								
		 	By:	 	BROOK RUN MANAGEMENT CORPORATION, a Virginia corporation, its Managing Member	 		 		 	By:	 	 /s/ Jon S. Wheeler
 Jon S. Wheeler, Chairman and CEO
	 	(SEAL)
									
		 		 	By:	 	 /s/ Jon S. Wheeler
	 		 		 		 		 	
		 		 		 	Jon S. Wheeler, President	 		 		 		 		 	

  
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