Document:

SEVENTH
AMENDMENT TO

    SECOND AMENDED AND RESTATED AGREEMENT OF
LIMITED PARTNERSHIP OF

    LEPERCQ CORPORATE INCOME FUND II
L.P.

    

    This
SEVENTH AMENDMENT TO SECOND
AMENDED AND RESTATED AGREEMENT OF LIMITED
PARTNERSHIP OF
LEPERCQ
CORPORATE INCOME FUND II L.P. (this “Amendment”) is made
as of April 24, 2009 and effective as of March 26, 2009 by and among the
entities and individuals signatory hereto.

     

    A.           Lepercq Corporate Income Fund II
L.P., a Delaware limited partnership (the “Partnership”) is
governed by that certain Second Amended and Restated Agreement of Limited
Partnership, dated effective as of August 27, 1998, as amended by that certain
First Amendment thereto effective as of June 19, 2003, by Second Amendment
thereto effective as of June 30, 2003, by Third Amendment thereto effective as
of December 8, 2004, Fourth Amendment thereto effective as of January 3, 2005,
Fifth Amendment thereto effective as of July 23, 2006, and Sixth Amendment
thereto effective as of December 20, 2006 (the “Agreement”).  Unless
otherwise defined, all capitalized terms used herein shall have such meaning
ascribed such terms in the Agreement.

     

    B.           Lex
GP-1 Trust, a Delaware statutory trust, is the General Partner of the
Partnership.

     

    C.           Pursuant
to Section 14.1.B.2 of the Agreement, the General Partner has the power, without
the consent of any other Partner, to amend the Agreement as may be required to
cure an ambiguity, correct or supplement any provision in the Agreement not
inconsistent with law or with other provisions.

     

    NOW, THEREFORE, the
undersigned, being desirous of effectuating the foregoing and amending the
Agreement accordingly, hereby enter into this Amendment, and amend the Agreement
and any supplement to the Agreement entered into prior to the date hereof, as
follows:

     

    1.           Amendment to Article
1.

     

    A.              The
defined term “Redemption Factor” is hereby deleted in its entirety and replaced
with the following:

     

    “Redemption Factor”
means 1.0, provided that in the event that LXP (i) declares or pays a dividend
on its outstanding REIT Shares in REIT Shares or makes a distribution to all
holders of its outstanding REIT Shares in REIT Shares, (ii) subdivides its
outstanding REIT Shares, or (iii) combines its outstanding REIT Shares into a
smaller number of REIT Shares, the Redemption Factor shall be adjusted by
multiplying the Redemption Factor in effect immediately before such event by a
fraction, the numerator of which shall be the number of REIT Shares issued and
outstanding on the record date for such dividend, distribution, subdivision or
combination (assuming for such purposes that such dividend, distribution,
subdivision or combination has occurred as of such time), and the denominator of
which shall be the actual number of REIT Shares (determined without the above
assumption) issued and outstanding on the record date for such dividend
distribution, subdivision or combination.  Any adjustment to the
Redemption Factor (x) with respect to clause (i) of the immediately preceding
sentence, shall become effective immediately after the effective date of such
event retroactive to the day after the record date, if any, for such event, and
(y) with respect to clauses (ii) or (iii) of the immediately preceding sentence,
shall become effective immediately after the effective date of such event
retroactive to the record date, if any, for such event.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    B.              The
following defined terms shall be added in alphabetical order to Article
1:

     

    “REIT Dividend Limited
Partners” means the Special Limited Partners, the Scannell Limited
Partners, and the Duke Limited Partners.

     

    “REIT Limited Partner
Units” shall mean those Partnership Units issued to REIT Dividend Limited
Partners pursuant to Section 4.1 and 4.2.

     

    “REIT Dividend Limited
Partner Unit Distribution Amounts” means such amounts of distributions
for each REIT Dividend Limited Partner Unit that is equal to (x) the amount of
cash distributions made in respect of one REIT Share outstanding on any given
date multiplied by (y) the Redemption Factor on the applicable record date, such
amount of REIT Dividend Limited Partner Unit Distribution Amounts being adjusted
from time to time in accordance with the Redemption Factor.

     

    2.           Amendment to Section
5.1.  Section 5.1 of the Agreement is hereby deleted in its
entirety and replaced with the following:

     

    A.              General.  The
General Partner shall distribute quarterly an amount equal to 100% of the
Operating Cash Flow generated by  the Partnership during such quarter
to the Partners, who are Partners on the Partnership Record Date with respect to
such quarter in accordance with their respective Percentage Interests on such
Partnership Record Date; provided, that in no event may
a Partner receive a distribution of Operating Cash Flow with respect to a
Partnership Unit if such Partner is entitled to receive a distribution out of
such Operating Cash Flow with respect to a REIT Share for which such Partnership
Unit has been redeemed or exchanged.

     

    
      
         

      

      
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    B.              REIT Dividend Limited
Partners.  For purposes of this Section 5.1, each REIT Dividend
Limited Partner shall be entitled to receive distributions with respect to each
Partnership Unit equal to the REIT Dividend Limited Partner Unit Distribution
Amount.

     

    C.              Phoenix Limited
Partner.  Notwithstanding Section 5.1.A, the Phoenix Limited
Partner shall receive a share of Operating Cash Flow equal to a cash
distribution of $0.29 per Partnership Unit per quarter ($1.16 per Partnership
Unit per annum), provided, that if LXP
reduces its dividend below $1.16 then the distribution to which such Phoenix
Limited Partner is entitled shall be reduced by the percentage reduction in the
LXP divided, and provided, further, that if LXP
increases its dividend above $1.16 then the distribution to which such Phoenix
Limited Partner is entitled shall be increased by the percentage increase in the
LXP dividend.

     

    D.              Warren Limited
Partners.  Notwithstanding Section 5.1.A, the Warren Limited
Partners shall receive a share of Operating Cash Flow equal to a cash
distribution of $0.29 per Partnership Unit per quarter ($1.16 per Partnership
Unit per annum), provided, that if LXP
reduces its dividend below $1.16 then the distribution to which such Warren
Limited Partner is entitled shall be reduced by the percentage reduction in the
LXP divided, and provided, further, that if LXP
increases its dividend above $1.16 then the distribution to which such Warren
Limited Partner is entitled shall be increased by the percentage increase in the
LXP dividend.

     

    3.      Amendment to Section
6.1(c).  Section 6.1(c) of the Agreement is hereby deleted in
its entirety and replaced with the following:

     

    For
purposes of Reg Section 1.752-3(a)(3), the Partners agree that Nonrecourse
Liabilities of the Partnership in excess of the sum of the amount of Partnership
Minimum Gain and the total amount of Nonrecourse Built In Gain shall be
allocated first to account for any income or gain to be allocated to the Phoenix
Limited Partners and the Warrant Limited Partners pursuant to Sections 2B and 2D
of Exhibit C and then among the Partners in accordance with their respective
Percentage Interests, or as is otherwise permissible in accordance with
Regulation Section 1.752-3(a)(3).

     

    4.      Miscellaneous.  Except as amended hereby,
the Agreement shall remain unchanged and in full force and
effect.

     

    

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    IN
WITNESS WHEREOF, the parties hereto have executed this Amendment on behalf of
the Partnership in accordance with the provisions of Section 14.1 of the
Agreement as of the date first written above.

     

    
      
        
          
            
              	 	GENERAL
      PARTNER:	 
	 	 	 
	 	LEX
      GP-1 TRUST	 
	 	 	 	 
	
                       

                    	
                      By:
      

                    	/s/ T.
      Wilson Eglin	 
	 	 	T.
      Wilson Eglin	 
	 	 	President	 

            

          

        

      

    

     

    

    Consented to by a Majority of the
Special Limited Partners:

    

    THE
LCP GROUP L.P.

    

    By: Third
Lero Corp., its general partner

     

    
      
        
          
            
              
                
                  	 	 	 	 	 	 
	By:	
                          /s/
      E. Robert Roskind

                        	 	 	
                           

                        	 
	E.
      Robert Roskind	 	 	
                           

                        	 
	President	 	 	
                           

                        	 

                

              

            

          

        

      

    

     

    
      
         

      

      
        1-1SIXTH
AMENDMENT TO

    AMENDED AND RESTATED AGREEMENT OF
LIMITED PARTNERSHIP OF

    NET 3 ACQUISITION
L.P.

    

    This
SIXTH AMENDMENT TO AMENDED AND
RESTATED AGREEMENT OF LIMITED
PARTNERSHIP OF
NET 3
ACQUISITION L.P. (this “Amendment”) is made
as of April 24, 2009 and effective as of March 26, 2009 by and among the
entities and individuals signatory hereto.

     

    A.           Net 3 Acquisition L.P., a
Delaware limited partnership (the “Partnership”), is
governed by that certain Amended and Restated Agreement of Limited Partnership,
dated effective as of November 28, 2001, as amended by that certain First
Amendment effective as of November 28, 2001, that certain Second Amendment
effective as of June 19, 2003, that certain Third Amendment effective as of June
30, 2003, that certain Fourth Amendment effective as of December 8, 2004, and
that certain Fifth Amendment effective as of January 3, 2005 (the “Agreement”).  Unless
otherwise defined, all capitalized terms used herein shall have such meaning
ascribed such terms in the Agreement.

     

    B.           Lex
GP-1 Trust, a Delaware statutory trust, is the General Partner of the
Partnership.

     

    C.           Pursuant
to Section 14.1.B.2 of the Agreement, the General Partner has the power, without
the consent of any other Partner, to amend the Agreement as may be required to
cure an ambiguity, correct or supplement any provision in the Agreement not
inconsistent with law or with other provisions.

     

    NOW, THEREFORE, the
undersigned, being desirous of effectuating the foregoing and amending the
Agreement accordingly, hereby enter into this Amendment, and amend the Agreement
and any supplement to the Agreement entered into prior to the date hereof, as
follows:

     

    1.           Amendment to Article
1.  The defined term “Redemption Factor” and “Special Limited
Partner Unit Distribution Amounts” are hereby deleted in their entirety and
replaced with the following:

     

    “Redemption Factor”
means 1.0, provided that in the event that LXP (i) declares or pays a dividend
on its outstanding REIT Shares in REIT Shares or makes a distribution to all
holders of its outstanding REIT Shares in REIT Shares, (ii) subdivides its
outstanding REIT Shares, or (iii) combines its outstanding REIT Shares into a
smaller number of REIT Shares, the Redemption Factor shall be adjusted by
multiplying the Redemption Factor in effect immediately before such event by a
fraction, the numerator of which shall be the number of REIT Shares issued and
outstanding on the record date for such dividend, distribution, subdivision or
combination (assuming for such purposes that such dividend, distribution,
subdivision or combination has occurred as of such time), and the denominator of
which shall be the actual number of REIT Shares (determined without the above
assumption) issued and outstanding on the record date for such dividend
distribution, subdivision or combination.  Any adjustment to the
Redemption Factor (i) with respect to clause (i) of the immediately preceding
sentence, shall become effective immediately after the effective date of such
event retroactive to the day after the record date, if any, for such event, and
(ii) with respect to clauses (ii) or (iii) of the immediately preceding
sentence, shall become effective immediately after the effective date of such
event retroactive to the record date, if any, for such event.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    “Special Limited Partner Unit
Distribution Amounts” means such amounts of distributions for each
Special Limited Partner Unit that is equal to (x) the amount of cash
distributions made in respect of one REIT Share outstanding on any given date
multiplied by (y) the Redemption Factor on the applicable record date, such
amount of Special Limited Partner Unit Distribution Amounts being adjusted from
time to time in accordance with the Redemption Factor.

     

    2.      Amendment to Section
6.1(c).  Section 6.1(c) of the Agreement is hereby deleted in
its entirety and replaced with the following:

     

    For
purposes of Reg Section 1.752-3(a)(3), the Partners agree that Nonrecourse
Liabilities of the Partnership in excess of the sum of the amount of Partnership
Minimum Gain and the total amount of Nonrecourse Built In Gain shall be
allocated first to account for any income or gain to be allocated to the Special
Limited Partners pursuant to Sections 2B and 2D of Exhibit C and then among the
Partners in accordance with their respective Percentage Interests, or as is
otherwise permissible in accordance with Regulation Section
1.752-3(a)(3).

     

    3.      Miscellaneous.  Except as amended hereby,
the Agreement shall remain unchanged and in full force and
effect.

     

    

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    IN
WITNESS WHEREOF, the parties hereto have executed this Amendment on behalf of
the Partnership in accordance with the provisions of Section 14.1 of the
Agreement as of the date first written above.

     

    
      
        
          
            
              	 	GENERAL
      PARTNER:	 
	 	 	 
	 	LEX
      GP-1 TRUST	 
	 	 	 	 
	
                       

                    	
                      By:
      

                    	/s/ T.
      Wilson Eglin	 
	 	 	T.
      Wilson Eglin	 
	 	 	President	 

            

          

        

      

    

     

    

    Consented to by a Majority of the
Special Limited Partners:

    

    THE
LCP GROUP L.P.

    

    By: Third
Lero Corp., its general partner

     

    
      
        
          
            
              
                
                  	 	 	 	 	 	 
	By:	
                          /s/E.
      Robert Roskind

                        	 	 	
                           

                        	 
	E.
      Robert Roskind	 	 	
                           

                        	 
	President	 	 	
                           

                        	 

                

              

            

          

        

      

    
      
         

      

      
        1-1

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